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Loans (Tables)

12 Months Ended

Dec. 31, 2020

Loans at December 31 are summarized below:

	(In Thousands)
Loans:	2020			2019
Consumer Real Estate	$	175,588		$	165,349
Agricultural Real Estate		189,159			199,105
Agricultural		94,358			111,820
Commercial Real Estate		588,825			551,309
Commercial and Industrial		189,246			135,631
Consumer		52,540			49,237
Other		15,757			8,314
	$	1,305,473		$	1,220,765
Less: Net deferred loan fees and costs		(2,483	)		(1,766	)
		1,302,990			1,218,999
Less: Allowance for loan losses		(13,672	)		(7,228	)
Loans - Net	$	1,289,318		$	1,211,771

Contractual Maturity Schedule by Major Category of Loans Excluding Fair Value Adjustments

The following is a maturity schedule by major category of loans excluding fair value adjustments at December 31, 2020:

	(In Thousands)
			After One
	Within		Year Within		After
	One Year		Five Years		Five Years		Total
Consumer Real Estate	$	5,810	$	31,538	$	138,295	$	175,643
Agricultural Real Estate		5,612		4,045		180,123		189,780
Agricultural		53,083		27,835		13,443		94,361
Commercial Real Estate		21,532		307,834		259,571		588,937
Commercial and Industrial		61,416		109,373		18,642		189,431
Consumer		1,520		38,099		12,900		52,519
Other		2,223		134		13,397		15,754
	$	151,196	$	518,858	$	636,371	$	1,306,425

Distribution of Fixed Rate Loans and Variable Rate Loans by Major Loan Category

The distribution of fixed rate loans and variable rate loans by major loan category is as follows as of December 31, 2020:

	(In Thousands)
	Fixed		Variable
	Rate		Rate
Consumer Real Estate	$	128,948	$	46,640
Agricultural Real Estate		102,993		86,166
Agricultural		81,089		13,269
Commercial Real Estate		456,997		131,828
Commercial and Industrial		163,688		25,558
Consumer		48,558		3,982
Other		15,705		52

Contractual Aging of Recorded Investment in Past Due Loans by Portfolio Classification of Loans

The following table represents the contractual aging of the recorded investment in past due loans by portfolio classification of loans as of December 31, 2020 and 2019, net of deferred loan fees and costs:

December 31, 2020	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Financing Receivables		Recorded Investment > 90 Days and Accruing
Consumer Real Estate	$	269	$	191	$	1,032	$	1,492	$	173,824	$	175,316	$	-
Agricultural Real Estate		-		-		88		88		188,738		188,826		-
Agricultural		-		-		176		176		94,314		94,490		-
Commercial Real Estate		-		-		185		185		587,469		587,654		-
Commercial and Industrial		-		750		983		1,733		202,310		204,043		-
Consumer		53		-		-		53		52,608		52,661		-
Total	$	322	$	941	$	2,464	$	3,727	$	1,299,263	$	1,302,990	$	-

December 31, 2019	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Financing Receivables		Recorded Investment > 90 Days and Accruing
Consumer Real Estate	$	355	$	70	$	-	$	425	$	164,266	$	164,691	$	-
Agricultural Real Estate		-		107		-		107		198,752		198,859		-
Agricultural		78		7		-		85		111,864		111,949		-
Commercial Real Estate		-		-		-		-		550,082		550,082		-
Commercial and Industrial		201		267		-		468		143,541		144,009		-
Consumer		54		-		-		54		49,355		49,409		-
Total	$	688	$	451	$	-	$	1,139	$	1,217,860	$	1,218,999	$	-

Recorded Investment in Nonaccrual Loans by Portfolio Class of Loans

The following table presents the recorded investment in nonaccrual loans by portfolio class of loans as of December 31, 2020 and December 31, 2019:

	(In Thousands)
	2020		2019
Consumer Real Estate	$	1,546	$	1,209
Agricultural Real Estate		5,575		88
Agriculture		307		1,769
Commercial Real Estate		665		37
Commercial and Industrial		1,296		288
Consumer		15		9
Total	$	9,404	$	3,400

Risk Category of Loans by Portfolio Class

The following table represents the risk category of loans by portfolio class, net of deferred fees, based on the most recent analysis performed as of the time periods shown of December 31, 2020 and December 31, 2019.

	(In Thousands)
	Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Other
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
1-2	$	11,960	$	14,655	$	5,093	$	4,093	$	11,001	$	7,860	$	38,486	$	3,844	$	-	$	-
3		38,306		33,951		23,779		36,913		165,201		131,780		26,515		19,790		4,651		3,168
4		112,465		116,834		63,480		65,414		396,076		401,404		114,108		103,527		11,106		5,146
5		7,478		14,836		1,577		2,300		4,010		3,699		3,266		2,465		-		-
6		18,617		18,583		561		3,229		11,366		5,339		4,796		4,983		-		-
7		-		-		-		-		-		-		1,115		1,086		-		-
8		-		-		-		-		-		-		-		-		-		-
Total	$	188,826	$	198,859	$	94,490	$	111,949	$	587,654	$	550,082	$	188,286	$	135,695	$	15,757	$	8,314

Recorded Investment for Consumer Loans, Credit Quality based on Status of Loan and Payment Activity

The following tables present the recorded investment in those classes based on payment activity and assigned risk grading as of December 31, 2020 and December 31, 2019.

	(In Thousands)
	Consumer Real Estate
	2020		2019
Grade
Pass	$	171,667	$	160,930
Special mention (5)		1,284		415
Substandard (6)		2,365		3,346
Doubtful (7)		-		-
Total	$	175,316	$	164,691

	(In Thousands)
	Consumer - Credit Card				Consumer - Other
	2020		2019		2020		2019
Performing	$	3,660	$	4,076	$	48,855	$	44,831
Nonperforming		10		15		136		487
Total	$	3,670	$	4,091	$	48,991	$	45,318

Schedule of Impaired Loans

Information about impaired loans as of and for the years ended December 31, 2020 and 2019 are as follows:

	(In Thousands)
	2020		2019
Impaired loans without a valuation allowance	$	5,172	$	2,420
Impaired loans with a valuation allowance		9,360		641
Total impaired loans	$	14,532	$	3,061
Valuation allowance related to impaired loans	$	1,657	$	197
Total non-accrual loans	$	9,404	$	3,400
Total loans past-due ninety days or more and still accruing	$	-	$	-

	(In Thousands)
	2020		2019		2018
Average investment in impaired loans	$	10,234	$	2,649	$	1,958
Interest income recognized on impaired loans	$	269	$	118	$	69
Interest income recognized on a cash basis on impaired loans	$	135	$	9	$	17

Impaired Loans Classified as Troubled Debt Restructured

The following table represents the years ended December 31, 2020 and 2019.

December 31, 2020							December 31, 2019
			(In thousands)							(In thousands)
Troubled Debt Restructurings	Number of Contracts Modified in the Last 12 Months		Pre- Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Troubled Debt Restructurings	Number of Contracts Modified in the Last 12 Months		Pre- Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Consumer Real Estate		-	$	-	$	-	Consumer Real Estate		1	$	74	$	74
Agricultural Real Estate		2		5,380		5,380	Agricultural Real Estate		-		-		-
Agricultural		1		164		164	Agricultural		-		-		-
Commercial Real Estate		2		981		981	Commercial Real Estate		-		-		-
Commercial and Industrial		1		50		50	Commercial and Industrial		4		812		812

Loans Individually Evaluated for Impairment by Portfolio Class of Loans

The following tables present loans individually evaluated for impairment by portfolio class of loans as of December 31, 2020 and 2019:

	(In Thousands)
2020	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized Cash Basis
With no related allowance recorded:
Consumer Real Estate	$	799	$	799	$	-	$	738	$	22	$	10
Agricultural Real Estate		1,546		1,549		-		729		18		12
Agricultural		291		291		-		392		3		3
Commercial Real Estate		185		185		-		195		13		-
Commercial and Industrial		2,328		2,328		-		1,222		26		5
Consumer		23		23		-		16		-		-
With a specific allowance recorded:
Consumer Real Estate		202		202		31		126		-		3
Agricultural Real Estate		5,210		5,210		600		3,175		6		102
Agricultural		176		176		116		188		-		-
Commercial Real Estate		2,765		2,765		20		2,524		128		-
Commercial and Industrial		1,007		1,007		890		916		52		-
Consumer		-		-		-		11		1		-
Totals:
Consumer Real Estate	$	1,001	$	1,001	$	31	$	864	$	22	$	13
Agricultural Real Estate	$	6,756	$	6,759	$	600	$	3,904	$	24	$	114
Agricultural	$	467	$	467	$	116	$	580	$	3	$	3
Commercial Real Estate	$	2,950	$	2,950	$	20	$	2,719	$	141	$	-
Commercial and Industrial	$	3,335	$	3,335	$	890	$	2,138	$	78	$	5
Consumer	$	23	$	23	$	-	$	27	$	1	$	-

	(In Thousands)
2019	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized Cash Basis
With no related allowance recorded:
Consumer Real Estate	$	648	$	648	$	-	$	626	$	32	$	9
Agricultural Real Estate		-		-		-		204		-		-
Agricultural		491		491		-		124		-		-
Commercial Real Estate		299		299		-		238		19		-
Commercial and Industrial		982		982		-		637		66		-
Consumer		-		-		-		-		-		-
With a specific allowance recorded:
Consumer Real Estate		181		184		30		211		-		-
Agricultural Real Estate		-		-		-		22		1		-
Agricultural		200		200		21		29		-		-
Commercial Real Estate		-		-		-		-		-		-
Commercial and Industrial		227		377		142		555		-		-
Consumer		33		33		4		3		-		-
Totals:
Consumer Real Estate	$	829	$	832	$	30	$	837	$	32	$	9
Agricultural Real Estate	$	-	$	-	$	-	$	226	$	1	$	-
Agricultural	$	691	$	691	$	21	$	153	$	-	$	-
Commercial Real Estate	$	299	$	299	$	-	$	238	$	19	$	-
Commercial and Industrial	$	1,209	$	1,359	$	142	$	1,192	$	66	$	-
Consumer	$	33	$	33	$	4	$	3	$	-	$	-

Summary of Activities in Allowance for Credit Losses

The following is an analysis of the allowance for credit losses for the years ended December 31:

	(In Thousands)
	2020			2019			2018
Allowance for Loan Losses
Balance at beginning of year	$	7,228		$	6,775		$	6,868
Provision for loan loss		6,981			1,138			324
Loans charged off		(720	)		(841	)		(580	)
Recoveries		183			156			163
Balance at ending of year	$	13,672		$	7,228		$	6,775
Allowance for Unfunded Loan Commitments & Letters of Credit	$	641		$	479		$	274
Total Allowance for Credit Losses	$	14,313		$	7,707		$	7,049

Analysis of Allowance for Credit Losses

Additional analysis related to the allowance for credit losses as of December 31, 2020 and 2019 is as follows:

	(In Thousands)
2020	Consumer Real Estate			Agricultural Real Estate		Agricultural		Commercial Real Estate			Commercial and Industrial			Consumer			Unfunded Loan Commitment & Letters of Credit		Unallocated		Total
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance	$	311		$	314	$	691	$	3,634		$	1,727		$	551		$	479	$	-	$	7,707
Charge Offs		(35	)		-		-		(8	)		(297	)		(380	)		-		-		(720	)
Recoveries		9			-		-		10			24			140			-		-		183
Provision		348			644		10		3,779			1,892			295			-		13		6,981
Other Non-interest expense related to unfunded		-			-		-		-			-			-			162		-		162
Ending Balance	$	633		$	958	$	701	$	7,415		$	3,346		$	606		$	641	$	13	$	14,313
Ending balance: individually evaluated for impairment	$	31		$	600	$	116	$	20		$	890		$	-		$	-	$	-	$	1,657
Ending balance: collectively evaluated for impairment	$	602		$	358	$	585	$	7,395		$	2,456		$	606		$	641	$	13	$	12,656
Ending balance: loans acquired with deteriorated credit quality	$	-		$	-	$	-	$	-		$	-		$	-		$	-	$	-	$	-
FINANCING RECEIVABLES:
Ending balance	$	175,316		$	188,826	$	94,490	$	587,654		$	204,043		$	52,661		$	-	$	-	$	1,302,990
Ending balance: individually evaluated for impairment	$	1,001		$	6,756	$	467	$	2,950		$	3,335		$	23		$	-	$	-	$	14,532
Ending balance: collectively evaluated for impairment	$	174,273		$	182,070	$	94,023	$	584,704		$	200,602		$	52,638		$	-	$	-	$	1,288,310
Ending balance: loans acquired with deteriorated credit quality	$	42		$	-	$	-	$	-		$	106		$	-		$	-	$	-	$	148

	(In Thousands)
2019	Consumer Real Estate			Agricultural Real Estate		Agricultural			Commercial Real Estate		Commercial and Industrial			Consumer			Unfunded Loan Commitment & Letters of Credit		Unallocated			Total
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance	$	247		$	250	$	768		$	3,217	$	1,305		$	484		$	274	$	504		$	7,049
Charge Offs		(98	)		-		(37	)		-		(215	)		(491	)		-		-			(841	)
Recoveries		-			-		3			11		22			120			-		-			156
Provision (Credit)		162			64		(43	)		406		615			438			-		(504	)		1,138
Other Non-interest expense related to unfunded		-			-		-			-		-			-			205		-			205
Ending Balance	$	311		$	314	$	691		$	3,634	$	1,727		$	551		$	479	$	-		$	7,707
Ending balance: individually evaluated for impairment	$	30		$	-	$	21		$	-	$	142		$	4		$	-	$	-		$	197
Ending balance: collectively evaluated for impairment	$	281		$	314	$	670		$	3,634	$	1,585		$	547		$	479	$	-		$	7,510
Ending balance: loans acquired with deteriorated credit quality	$	-		$	-	$	-		$	-	$	-		$	-		$	-	$	-		$	-
FINANCING RECEIVABLES:
Ending balance	$	164,691		$	198,859	$	111,949		$	550,082	$	144,009		$	49,409		$	-	$	-		$	1,218,999
Ending balance: individually evaluated for impairment	$	829		$	-	$	691		$	299	$	1,209		$	33		$	-	$	-		$	3,061
Ending balance: collectively evaluated for impairment	$	163,816		$	198,859	$	111,258		$	549,783	$	142,694		$	49,376		$	-	$	-		$	1,215,786
Ending balance: loans acquired with deteriorated credit quality	$	46		$	-	$	-		$	-	$	106		$	-		$	-	$	-		$	152