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Loans (Tables)
 3 Months Ended
Mar. 31, 2020
Loan Balances

Loan balances were as follows:

 

 

 

March 31, 2020

 

 

December 31, 2019

 

Commercial & Agriculture

 

$

201,860

 

 

$

203,110

 

Commercial Real Estate- Owner Occupied

 

 

255,633

 

 

 

245,606

 

Commercial Real Estate- Non-Owner Occupied

 

 

616,192

 

 

 

592,222

 

Residential Real Estate

 

 

458,478

 

 

 

463,032

 

Real Estate Construction

 

 

163,807

 

 

 

155,825

 

Farm Real Estate

 

 

32,152

 

 

 

34,114

 

Consumer and Other

 

 

15,003

 

 

 

15,061

 

Total loans

 

 

1,743,125

 

 

 

1,708,970

 

Allowance for loan losses

 

 

(16,948

)

 

 

(14,767

)

Net loans

 

$

1,726,177

 

 

$

1,694,203

 
Schedule of Loan Modifications

There were no loans modified as TDRs during the period ended March 31, 2020. Loan modifications that are considered TDRs completed during the period ended March 31, 2019 were as follows:

 

 

 

For the Three-Month Period Ended

 

 

 

March 31, 2019

 

 

 

Number of

Contracts

 

 

Pre-

Modification

Outstanding

Recorded

Investment

 

 

Post-

Modification

Outstanding

Recorded

Investment

 

Commercial & Agriculture

 

 

—

 

 

$

—

 

 

$

—

 

Commercial Real Estate—Owner Occupied

 

 

—

 

 

 

—

 

 

 

—

 

Commercial Real Estate—Non-Owner Occupied

 

 

1

 

 

 

382

 

 

 

382

 

Residential Real Estate

 

 

—

 

 

 

—

 

 

 

—

 

Real Estate Construction

 

 

—

 

 

 

—

 

 

 

—

 

Farm Real Estate

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and Other

 

 

—

 

 

 

—

 

 

 

—

 

Total Loan Modifications

 

 

1

 

 

$

382

 

 

$

382

 

 

As of May 5, 2020, we had modified 653 loans aggregating $357,549 from customers impacted by the COVID-19 pandemic.  These modifications consist primarily of deferral of principal and interest payments.  Of these modifications, $357,549, or 100%, were performing in accordance with their terms.  Details with respect to actual loan modifications are as follows:

 

 

 

Number of

 

 

 

 

 

 

Weighted

Average

 

Type of Loan

 

Loans

 

 

Balance

 

 

Interest Rate

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

Commercial & Agriculture

 

 

215

 

 

$

49,944

 

 

 

4.74

%

Commercial Real Estate:

 

 

 

 

 

 

 

 

 

 

 

 

Owner Occupied

 

 

163

 

 

 

78,983

 

 

 

4.84

%

Non-Owner Occupied

 

 

114

 

 

 

183,935

 

 

 

4.36

%

Residential Real Estate

 

 

119

 

 

 

19,860

 

 

 

4.51

%

Real Estate Construction

 

 

15

 

 

 

23,898

 

 

 

4.46

%

Farm Real Estate

 

 

6

 

 

 

578

 

 

 

5.18

%

Consumer and Other

 

 

21

 

 

 

351

 

 

 

4.56

%

Total

 

 

653

 

 

$

357,549

 

 

 

4.54

%

 
CARESAct [Member]  
Schedule of Loan Modifications Details with respect to actual loan modifications are as follows:

 

 

Number of

 

 

 

 

 

 

Weighted

Average

 

Type of Loan

 

Loans

 

 

Balance

 

 

Interest Rate

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

Commercial & Agriculture

 

 

26

 

 

$

5,449

 

 

 

4.65

%

Commercial Real Estate:

 

 

 

 

 

 

 

 

 

 

 

 

Owner Occupied

 

 

25

 

 

 

10,077

 

 

 

4.82

%

Non-Owner Occupied

 

 

12

 

 

 

24,122

 

 

 

4.86

%

Residential Real Estate

 

 

2

 

 

 

184

 

 

 

4.91

%

Farm Real Estate

 

 

1

 

 

 

89

 

 

 

5.00

%

Total

 

 

66

 

 

$

39,921

 

 

 

4.82

%