Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. Loans and Allowance for Loan Losses March 31, December 31, (Dollars in thousands) 2016 2015 One-to-four family residential real estate $ 132,321 $ 131,930 Construction and land 15,268 15,043 Commercial real estate 118,481 118,983 Commercial loans 59,391 61,300 Agriculture loans 73,158 71,030 Municipal loans 7,736 7,635 Consumer loans 19,544 19,895 Total gross loans 425,899 425,816 Net deferred loan costs and loans in process (151) 29 Allowance for loan losses (5,869) (5,922) Loans, net $ 419,879 $ 419,923 Three months ended March 31, 2016 One-to-four family residential Construction Commercial Commercial Agriculture Municipal Consumer (Dollars in thousands) real estate and land real estate loans loans loans loans Total Allowance for loan losses: Balance at January 1, 2016 $ 925 $ 77 $ 1,740 $ 1,530 $ 1,428 $ 23 $ 199 $ 5,922 Charge-offs - - - - - - (137) (137) Recoveries 2 - - 19 - - 13 34 Provision for loan losses (63) 5 91 (165) 55 1 126 50 Balance at March 31, 2016 864 82 1,831 1,384 1,483 24 201 5,869 Three months ended March 31, 2015 One-to-four family residential Construction Commercial Commercial Agriculture Municipal Consumer (Dollars in thousands) real estate and land real estate loans loans loans loans Total Allowance for loan losses: Balance at January 1, 2015 $ 755 $ 762 $ 1,832 $ 836 $ 915 $ 51 $ 169 $ 5,320 Charge-offs - - - - - (88) (55) (143) Recoveries 2 1,715 - 2 - 9 1,728 Provision for loan losses 629 (2,374) (232) 677 189 62 49 (1,000) Balance at March 31, 2015 1,386 103 1,600 1,515 1,104 25 172 5,905 As of March 31, 2016 One-to-four family residential Construction Commercial Commercial Agriculture Municipal Consumer (Dollars in thousands) real estate and land real estate loans loans loans loans Total Allowance for loan losses: Individually evaluated for loss 32 - - 35 - - 8 75 Collectively evaluated for loss 832 82 1,831 1,349 1,483 24 193 5,794 Total 864 82 1,831 1,384 1,483 24 201 5,869 Loan balances: Individually evaluated for loss 1,285 2,119 2,427 645 184 591 34 7,285 Collectively evaluated for loss 131,036 13,149 116,054 58,746 72,974 7,145 19,510 418,614 Total $ 132,321 $ 15,268 $ 118,481 $ 59,391 $ 73,158 $ 7,736 $ 19,544 $ 425,899 As of December 31, 2015 One-to-four family residential Construction Commercial Commercial Agriculture Municipal Consumer (Dollars in thousands) real estate and land real estate loans loans loans loans Total Allowance for loan losses: Individually evaluated for loss 78 - - - - - 10 88 Collectively evaluated for loss 847 77 1,740 1,530 1,428 23 189 5,834 Total 925 77 1,740 1,530 1,428 23 199 5,922 Loan balances: Individually evaluated for loss 752 2,220 2,429 620 189 591 36 6,837 Collectively evaluated for loss 131,178 12,823 116,554 60,680 70,841 7,044 19,859 418,979 Total $ 131,930 $ 15,043 $ 118,983 $ 61,300 $ 71,030 $ 7,635 $ 19,895 $ 425,816 The Company recorded net loan charge-offs of $ 103,000 1.6 1.7 4.3 2.4 The Company’s impaired loans increased from $ 6.8 7.3 (Dollars in thousands) As of March 31, 2016 Impaired Impaired Year-to- Unpaid loans loans with Related Year-to- date interest contractual Impaired without an an allowance date average income principal loan balance allowance allowance recorded loan balance recognized One-to-four family residential real estate $ 1,285 $ 1,285 $ 315 $ 970 $ 32 $ 1,293 $ - Construction and land 3,854 2,119 2,119 - - 2,182 19 Commercial real estate 2,427 2,427 2,427 - - 2,428 127 Commercial loans 645 645 571 74 35 649 - Agriculture loans 184 184 184 - - 184 - Municipal loans 591 591 591 - - 591 5 Consumer loans 34 34 17 17 8 36 - Total impaired loans $ 9,020 $ 7,285 $ 6,224 $ 1,061 $ 75 $ 7,363 $ 151 (Dollars in thousands) As of December 31, 2015 Impaired Impaired Year-to- Unpaid loans loans with Related Year-to- date interest contractual Impaired without an an allowance date average income principal loan balance allowance allowance recorded loan balance recognized One-to-four family residential real estate $ 752 $ 752 $ 408 $ 344 $ 78 $ 1,041 $ - Construction and land 3,955 2,220 2,220 - - 2,389 88 Commercial real estate 2,429 2,429 2,429 - - 2,484 175 Commercial loans 637 620 620 - - 634 3 Agriculture loans 189 189 189 - - 188 3 Municipal loans 591 591 591 - - 631 19 Consumer loans 36 36 10 26 10 41 - Total impaired loans $ 8,589 $ 6,837 $ 6,467 $ 370 $ 88 $ 7,408 $ 288 The Company’s key credit quality indicator is a loan’s performance status, defined as accruing or non-accruing. Performing loans are considered to have a lower risk of loss. Non-accrual loans are those which the Company believes have a higher risk of loss. The accrual of interest on non-performing loans is discontinued at the time the loan is ninety days delinquent, unless the credit is well secured and in process of collection. Loans are placed on non-accrual or are charged off at an earlier date if collection of principal or interest is considered doubtful. There were no loans ninety days delinquent and accruing interest at March 31, 2016 or December 31, 2015. (Dollars in thousands) As of March 31, 2016 30-59 days 60-89 days 90 days or delinquent delinquent more Total past Total past and and delinquent due loans Non-accrual due and non- Total loans accruing accruing and accruing accruing loans accrual loans not past due One-to-four family residential real estate 43 42 - 85 $ 1,282 $ 1,367 $ 130,954 Construction and land - - - - 610 610 14,658 Commercial real estate 717 - - 717 47 764 117,717 Commercial loans 45 18 - 63 615 678 58,713 Agriculture loans 54 - - 54 139 193 72,965 Municipal loans - - - - - - 7,736 Consumer loans 37 1 - 38 34 72 19,472 Total $ 896 $ 61 $ - $ 957 $ 2,727 $ 3,684 $ 422,215 Percent of gross loans 0.21 % 0.01 % 0.00 % 0.22 % 0.64 % 0.86 % 99.14 % (Dollars in thousands) As of December 31, 2015 30-59 days 60-89 days 90 days or delinquent delinquent more Total past Total past and and delinquent due loans Non-accrual due and non- Total loans accruing accruing and accruing accruing loans accrual loans not past due One-to-four family residential real estate $ 70 $ 712 $ - $ 782 $ 749 $ 1,531 $ 130,399 Construction and land 4 - - 4 614 618 14,425 Commercial real estate 240 - - 240 47 287 118,696 Commercial loans 90 40 - 130 583 713 60,587 Agriculture loans 174 5 - 179 139 318 70,712 Municipal loans - - - - - - 7,635 Consumer loans 65 2 - 67 36 103 19,792 Total $ 643 $ 759 $ - $ 1,402 $ 2,168 $ 3,570 $ 422,246 Percent of gross loans 0.15 % 0.18 % 0.00 % 0.33 % 0.51 % 0.84 % 99.16 % Under the original terms of the Company’s non-accrual loans, interest earned on such loans for the three months ended March 31, 2016 and 2015 would have increased interest income by $ 33,000 120,000 The Company also categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis. Nonclassified loans generally include those loans that are expected to be repaid in accordance with contractual loan terms. Classified loans are those that are assigned a special mention, substandard or doubtful risk rating using the following definitions: Special Mention: Loans are currently protected by the current net worth and paying capacity of the obligor or of the collateral pledged but potentially weak. These loans constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of substandard. The credit risk may be relatively minor, yet constitutes an unwarranted risk in light of the circumstances surrounding a specific asset. Substandard: Loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged. Loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. As of March 31, 2016 As of December 31, 2015 (Dollars in thousands) Nonclassified Classified Nonclassified Classified One-to-four family residential real estate $ 130,480 $ 1,841 $ 130,575 $ 1,355 Construction and land 14,658 610 14,429 614 Commercial real estate 110,484 7,997 111,016 7,967 Commercial loans 57,126 2,265 58,862 2,438 Agriculture loans 70,357 2,801 68,186 2,844 Municipal loans 7,736 - 7,635 - Consumer loans 19,491 53 19,839 56 Total $ 410,332 $ 15,567 $ 410,542 $ 15,274 At March 31, 2016, the Company had ten loan relationships consisting of twelve outstanding loans that were classified as TDRs. No loan modifications were classified as TDRs during the three month period ended March 31, 2016. During the first three months of 2015, the Company classified a $ 44,000 78,000 The Company evaluates each TDR individually and returns the loan to accrual status when a payment history is established after the restructuring and future payments are reasonably assured. There were no loans modified as TDRs for which there was a payment default within 12 months of modification as of March 31, 2016 and 2015. At March 31, 2016, there was a commitment of $ 84,000 As of March 31, 2016 As of December 31, 2015 Number of Non-accrual Accruing Number of Non-accrual Accruing loans balance balance loans balance balance One-to-four family residential real estate 1 $ - $ 3 2 $ 55 $ 3 Construction and land 4 596 1,509 4 600 1,606 Commercial real estate 3 - 2,380 3 - 2,382 Commercial loans 1 - 30 1 - 37 Agriculture 1 - 45 2 - 50 Municipal loans 2 - 591 2 - 591 Total troubled debt restructurings 12 $ 596 $ 4,558 14 $ 655 $ 4,669 |