Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 11, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-33411 | |
Entity Registrant Name | NEW PEOPLES BANKSHARES, INC. | |
Entity Central Index Key | 0001163389 | |
Entity Tax Identification Number | 31-1804543 | |
Entity Incorporation, State or Country Code | VA | |
Entity Address, Address Line One | 67 Commerce Drive | |
Entity Address, City or Town | Honaker | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 24260 | |
City area code | 276 | |
Local Phone Number | 873-7000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 23,922,086 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans including fees | $ 6,960 | $ 7,114 | $ 13,881 | $ 14,212 |
Interest-earning deposits with banks | 22 | 13 | 41 | 175 |
Investments | 334 | 272 | 581 | 569 |
Dividends on equity securities (restricted) | 32 | 37 | 64 | 74 |
Total Interest and Dividend Income | 7,348 | 7,436 | 14,567 | 15,031 |
INTEREST EXPENSE | ||||
Deposits | 575 | 1,131 | 1,258 | 2,393 |
Borrowed funds | 122 | 165 | 245 | 356 |
Total Interest Expense | 697 | 1,296 | 1,503 | 2,749 |
NET INTEREST INCOME | 6,651 | 6,140 | 13,064 | 12,282 |
PROVISION FOR LOAN LOSSES | 186 | 550 | 372 | 1,550 |
NET INTEREST INCOME AFTER | ||||
PROVISION FOR LOAN LOSSES | 6,465 | 5,590 | 12,692 | 10,732 |
NONINTEREST INCOME | ||||
Service charges and fees | 841 | 528 | 1,673 | 1,379 |
Card processing and interchange | 1,072 | 835 | 1,936 | 1,588 |
Insurance and investment fees | 275 | 109 | 501 | 241 |
Other noninterest income | 190 | 156 | 397 | 585 |
Total Noninterest Income | 2,378 | 1,628 | 4,507 | 3,797 |
NONINTEREST EXPENSES | ||||
Salaries and employee benefits | 3,099 | 3,818 | 6,178 | 7,319 |
Occupancy and equipment expense | 1,184 | 1,150 | 2,360 | 2,263 |
Data processing and telecommunications | 653 | 657 | 1,226 | 1,277 |
Other operating expenses | 1,788 | 1,567 | 3,309 | 3,584 |
Total Noninterest Expenses | 6,724 | 7,192 | 13,073 | 14,443 |
INCOME BEFORE INCOME TAXES | 2,119 | 30 | 4,126 | 86 |
INCOME TAX EXPENSE | 456 | 1 | 878 | 11 |
NET INCOME | $ 1,663 | $ 29 | $ 3,248 | $ 75 |
Income Per Share | ||||
Basic and diluted | $ 0.07 | $ 0 | $ 0.14 | $ 0 |
Average Weighted Shares of Common Stock | ||||
Basic and diluted | 23,922,086 | 23,922,086 | 23,922,086 | 23,922,086 |
Federal funds sold | $ 0 | $ 1 | ||
Net gain on sales of available-for-sale securities | $ 0 | $ 4 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
NET INCOME | $ 1,663 | $ 29 | $ 3,248 | $ 75 |
Investment securities activity | ||||
Unrealized (losses) gains arising during the period | (58) | 244 | (584) | 1,011 |
Reclassification adjustment for net gains Included in net income | (4) | |||
Other comprehensive (loss) gain on investment securities | (58) | 244 | (584) | 1,007 |
Related tax benefit (expense) | 12 | (51) | 123 | (211) |
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME | (46) | 193 | (461) | 796 |
TOTAL COMPREHENSIVE INCOME | $ 1,617 | $ 222 | $ 2,787 | $ 871 |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 16,878 | $ 16,023 |
Interest-bearing deposits with banks | 52,647 | 76,105 |
Federal funds sold | 132 | 222 |
Total Cash and Cash Equivalents | 69,657 | 92,350 |
Investment securities available-for-sale | 96,031 | 48,406 |
Loans held for sale | 0 | 389 |
Loans receivable | 591,914 | 575,566 |
Allowance for loan losses | (6,696) | (7,191) |
Net loans | 585,218 | 568,375 |
Bank premises and equipment, net | 22,946 | 22,174 |
Other real estate owned | 2,269 | 3,334 |
Accrued interest receivable | 2,259 | 2,392 |
Deferred taxes, net | 2,373 | 3,126 |
Right-of-use assets – operating leases | 5,248 | 5,439 |
Other assets | 11,587 | 10,317 |
Total Assets | 797,588 | 756,302 |
Deposits: | ||
Noninterest bearing | 255,267 | 223,725 |
Interest-bearing | 456,100 | 444,287 |
Total Deposits | 711,367 | 668,012 |
Borrowed funds | 16,496 | 21,496 |
Lease liabilities – operating leases | 5,248 | 5,439 |
Accrued interest payable | 309 | 436 |
Accrued expenses and other liabilities | 3,204 | 2,742 |
Total Liabilities | 736,624 | 698,125 |
STOCKHOLDERS’ EQUITY | ||
Common stock - $2.00 par value; 50,000,000 shares authorized; 23,922,086 shares issued and outstanding at June 30, 2021 and December 31, 2020 | 47,844 | 47,844 |
Additional paid-in-capital | 14,570 | 14,570 |
Retained deficit | (1,731) | (4,979) |
Accumulated other comprehensive income | 281 | 742 |
Total Stockholders’ Equity | 60,964 | 58,177 |
Total Liabilities and Stockholders’ Equity | $ 797,588 | $ 756,302 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 2 | $ 2 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 23,922,086 | 23,922,086 |
Common Stock, Shares, Outstanding | 23,922,086 | 23,922,086 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 47,844 | $ 14,570 | $ (7,869) | $ 57 | $ 54,602 |
Beginning balance, Shares at Dec. 31, 2019 | 23,922 | ||||
Net income | 46 | 46 | |||
Other comprehensive loss, net of tax | 603 | 603 | |||
Ending balance, value at Mar. 31, 2020 | $ 47,844 | 14,570 | (7,823) | 660 | 55,251 |
End balance, Shares at Mar. 31, 2020 | 23,922 | ||||
Beginning balance, value at Dec. 31, 2019 | $ 47,844 | 14,570 | (7,869) | 57 | 54,602 |
Beginning balance, Shares at Dec. 31, 2019 | 23,922 | ||||
Net income | 75 | ||||
Other comprehensive loss, net of tax | 796 | ||||
Ending balance, value at Jun. 30, 2020 | $ 47,844 | 14,570 | (7,794) | 853 | 55,473 |
End balance, Shares at Jun. 30, 2020 | 23,922 | ||||
Beginning balance, value at Mar. 31, 2020 | $ 47,844 | 14,570 | (7,823) | 660 | 55,251 |
Beginning balance, Shares at Mar. 31, 2020 | 23,922 | ||||
Net income | 29 | 29 | |||
Other comprehensive loss, net of tax | 193 | 193 | |||
Ending balance, value at Jun. 30, 2020 | $ 47,844 | 14,570 | (7,794) | 853 | 55,473 |
End balance, Shares at Jun. 30, 2020 | 23,922 | ||||
Beginning balance, value at Dec. 31, 2020 | $ 47,844 | 14,570 | (4,979) | 742 | 58,177 |
Beginning balance, Shares at Dec. 31, 2020 | 23,922 | ||||
Net income | 1,585 | 1,585 | |||
Other comprehensive loss, net of tax | (415) | (415) | |||
Ending balance, value at Mar. 31, 2021 | $ 47,844 | 14,570 | (3,394) | 327 | 59,347 |
End balance, Shares at Mar. 31, 2021 | 23,922 | ||||
Beginning balance, value at Dec. 31, 2020 | $ 47,844 | 14,570 | (4,979) | 742 | 58,177 |
Beginning balance, Shares at Dec. 31, 2020 | 23,922 | ||||
Net income | 3,248 | ||||
Other comprehensive loss, net of tax | (461) | ||||
Ending balance, value at Jun. 30, 2021 | $ 47,844 | 14,570 | (1,731) | 281 | 60,964 |
End balance, Shares at Jun. 30, 2021 | 23,922 | ||||
Beginning balance, value at Mar. 31, 2021 | $ 47,844 | 14,570 | (3,394) | 327 | 59,347 |
Beginning balance, Shares at Mar. 31, 2021 | 23,922 | ||||
Net income | 1,663 | 1,663 | |||
Other comprehensive loss, net of tax | (46) | (46) | |||
Ending balance, value at Jun. 30, 2021 | $ 47,844 | $ 14,570 | $ (1,731) | $ 281 | $ 60,964 |
End balance, Shares at Jun. 30, 2021 | 23,922 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 3,248 | $ 75 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 1,109 | 1,093 |
Provision for loan losses | 372 | 1,550 |
Income on bank owned life insurance | (20) | (38) |
Net gain on sale of securities available-for-sale | (4) | |
Gain on sale of mortgage loans | (80) | (103) |
Loss on sale or disposal of premises and equipment | 40 | 19 |
Loss (gain) on sale of other real estate owned | 16 | (58) |
Loans originated for sale | (4,856) | (6,654) |
Proceeds from sales of loans originated for sale | 5,325 | 6,759 |
Adjustment of carrying value of other real estate owned | 28 | 132 |
Adjustment of carrying value of repossessed assets | 0 | 33 |
Net amortization/accretion of bond premiums/discounts | 199 | 213 |
Deferred tax expense | 876 | 11 |
Net change in: | ||
Accrued interest receivable | 133 | (882) |
Other assets | (1,835) | (463) |
Accrued interest payable | (127) | (90) |
Accrued expenses and other liabilities | 511 | 768 |
Net Cash Provided by Operating Activities | 4,939 | 2,361 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net increase in loans | (17,728) | (25,189) |
Purchase of securities available-for-sale | (55,853) | |
Proceeds from sale of investment securities available-for-sale | 1,025 | |
Proceeds from repayments and maturities of securities available-for-sale | 7,445 | 4,896 |
Net (redemption) purchase of equity securities (restricted) | 585 | (22) |
Payments for the purchase of premises and equipment | (1,921) | (1,393) |
Proceeds from sale of premises and equipment | 0 | 1 |
Proceeds from sales of other real estate owned | 1,485 | 138 |
Net Cash Used in Investing Activities | (65,987) | (20,544) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in short term borrowings | (5,000) | 0 |
Net change in noninterest bearing deposits | 31,542 | 52,811 |
Net change in interest bearing deposits | 11,813 | (5,884) |
Net Cash Provided by Financing Activities | 38,355 | 46,927 |
Net (decrease) increase in cash and cash equivalents | (22,693) | 28,744 |
Cash and Cash Equivalents, Beginning of the Period | 92,350 | 50,147 |
Cash and Cash Equivalents, End of the Period | 69,657 | 78,891 |
Supplemental Disclosure of Cash Paid During the Period for: | ||
Interest | 1,630 | 2,839 |
Taxes | 0 | 0 |
Supplemental Disclosure of Non-cash Transactions: | ||
Other real estate acquired in settlement of foreclosed loans | 513 | 252 |
Loans made to finance sale of other real estate owned | 0 | 428 |
Change in unrealized gains on securities available for sale | $ (584) | $ 1,007 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NOTE 1 NATURE OF OPERATIONS Nature of Operations – |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These consolidated financial statements conform to U. S. generally accepted accounting principles (GAAP) and to general industry practices. In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the Company’s financial position at June 30, 2021 and December 31, 2020, and the results of operations for the three and six month periods ended June 30, 2021 and 2020. The Notes included herein should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period. The consolidated financial statements include New Peoples, the Bank, NPB Insurance Services, Inc., and NPB Web Services, Inc. (hereinafter, collectively referred to as the Company, we, us or our). All significant intercompany balances and transactions have been eliminated. In accordance with Accounting Standards Codification (ASC) 942, Financial Services – Depository and Lending, NPB Capital Trust I and 2 are not included in the consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The determination of the adequacy of the allowance for loan losses and the determination of the deferred tax asset and related valuation allowance are based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. |
INCOME PER SHARE
INCOME PER SHARE | 6 Months Ended |
Jun. 30, 2021 | |
Income Per Share | |
INCOME PER SHARE | NOTE 3 INCOME PER SHARE Basic income per share computations are based on the weighted average number of shares outstanding during each period. Dilutive earnings per share reflect the additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued relate to outstanding common stock warrants and are determined by the Treasury Method. For the three-month and six-month periods ended June 30, 2021 and 2020, there were no potential common shares. Basic and diluted net income per common share calculations follows: Schedule Basic and diluted net income per common share (Dollars in Thousands, Except Share and Per Share Data) For the three months For the six months 2021 2020 2021 2020 Net income $ 1,663 $ 29 $ 3,248 $ 75 Weighted average shares outstanding 23,922,086 23,922,086 23,922,086 23,922,086 Weighted average dilutive shares outstanding 23,922,086 23,922,086 23,922,086 23,922,086 Basic and diluted income per share $ 0.07 $ 0.00 $ 0.14 $ 0.00 |
CAPITAL
CAPITAL | 6 Months Ended |
Jun. 30, 2021 | |
CAPITAL | NOTE 4 CAPITAL Capital Requirements and Ratios The Company meets eligibility criteria of a small bank holding company in accordance with the Federal Reserve’s Small Bank Holding Company Policy Statement issued in February 2015 and, therefore, is not obligated to report consolidated regulatory capital. The Bank is subject to various capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and, possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital to risk-weighted assets, Tier 1 capital to average assets, and Common Equity Tier 1 capital to risk-weighted assets. As of June 30, 2021, the Bank meets all capital adequacy requirements to which it is subject. The Bank’s actual capital amounts and ratios are presented in the following table as of June 30, 2021 and December 31, 2020, respectively. Schedule Bank’s actual capital amounts and ratios Actual Minimum Capital Requirement Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars are in thousands) Amount Ratio Amount Ratio Amount Ratio June 30, 2021: Total Capital to Risk Weighted Assets $ 80,710 16.08 % $ 40,165 8.0 % $ 50,207 10.0 % Tier 1 Capital to Risk Weighted Assets 74,429 14.82 % 30,124 6.0 % 40,165 8.0 % Tier 1 Capital to Average Assets 74,429 9.19 % 32,386 4.0 % 40,483 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 74,429 14.82 % 22,593 4.5 % 32,634 6.5 % December 31, 2020: Total Capital to Risk Weighted Assets $ 77,133 16.41 % $ 37,603 8.0 % $ 47,028 10.0 % Tier 1 Capital to Risk Weighted Assets 71,241 15.16 % 28,202 6.0 % 37,603 8.0 % Tier 1 Capital to Average Assets 71,241 9.49 % 30,036 4.0 % 37,545 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 71,241 15.16 % 21,152 4.5 % 30,552 6.5 % Accordingly, as of June 30, 2021, and December 31, 2020, the Bank was well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since such dates that management believes have changed the Bank’s category. The Bank is also subject to the rules implementing the Basel III capital framework and certain related provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The final rules require the Bank to comply with the following minimum capital ratios: (i) a Common Equity Tier 1 capital to risk-weighted assets ratio of at least 4.5%, plus a 2.5% capital conservation buffer (effectively resulting in a minimum Common Equity Tier 1 capital to risk-weighted assets ratio of 7%), (ii) a ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer (effectively resulting in a minimum Tier 1 capital ratio of 8.5%), (iii) a ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer (effectively resulting in a minimum total capital ratio of 10.5%), and (iv) a leverage ratio of 4%, calculated as the ratio of Tier 1 capital to average assets. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a Common Equity Tier 1 capital to risk-weighted assets ratio above the minimum but below the conservation buffer face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall. All ratios shown in the table above exceed the minimum requirements. The Bank’s capital conservation buffer as of June 30, 2021, was 8.08%. |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 6 Months Ended |
Jun. 30, 2021 | |
Investment securities activity | |
INVESTMENT SECURITIES | NOTE 5 INVESTMENT SECURITIES The amortized cost and estimated fair value of available-for-sale (AFS) securities as of June 30, 2021 and December 31, 2020 is as follows: Schedule of estimated fair value of available-for-sale (AFS) securities Gross Gross Approximate Amortized Unrealized Unrealized Fair (Dollars are in thousands) Cost Gains Losses Value June 30, 2021 U.S. Government Agencies $ 13,712 $ 299 $ 57 $ 13,954 Taxable municipals 20,305 247 56 20,496 Corporate bonds 4,037 147 - 4,184 Mortgage-backed securities 57,622 311 536 57,397 Total Securities AFS $ 95,676 $ 1,004 $ 649 $ 96,031 December 31, 2020 U.S. Government Agencies $ 13,852 $ 322 $ 67 $ 14,107 Taxable municipals 5,157 188 - 5,345 Corporate bonds 5,893 186 31 6,048 Mortgage-backed securities 22,565 388 47 22,906 Total Securities AFS $ 47,467 $ 1,084 $ 145 $ 48,406 The following table details unrealized losses and related fair values in the AFS portfolio. This information is aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2021 and December 31, 2020. Schedule of unrealized loss position Less than 12 Months 12 Months or More Total (Dollars are in thousands) Fair Value Unrealized Fair Unrealized Fair Unrealized June 30, 2021 U.S. Government Agencies $ 966 $ 18 $ 3,080 $ 39 $ 4,046 $ 57 Taxable municipals 4,532 56 - - 4,532 56 Corporate bonds 500 - - - 500 - Mortgage-backed securities 42,857 533 158 3 43,015 536 Total Securities AFS $ 48,855 $ 607 $ 3,238 $ 42 $ 52,093 $ 649 December 31, 2020 U.S. Government Agencies $ 1,479 $ 12 $ 3,829 $ 55 $ 5,308 $ 67 Taxable municipals - - - - - - Corporate bonds 1,219 31 - - 1,219 31 Mortgage-backed securities 7,517 44 218 3 7,735 47 Total Securities AFS $ 10,215 $ 87 $ 4,047 $ 58 $ 14,262 $ 145 At June 30, 2021, there were 70 securities in a loss position, of which 24 have been in a loss position for twelve months or more. Management believes that all unrealized losses have resulted from temporary changes in the interest rates and current market conditions and are not a result of credit deterioration. Management does not intend to sell, and it is not likely that the Bank will be required to sell any of the securities referenced in the table above before recovery of their amortized cost. Investment securities with a carrying value of $ 7.3 6.8 The following table summarizes sales of AFS debt securities for the six months-ended June 30, Schedule summarizes sales of AFS debt securities (Dollars are in thousands) 2021 2020 Proceeds $ - $ 1,025 Gains - 7 Losses - (3 ) Tax benefit - (1 ) The amortized cost and fair value of investment securities at June 30, 2021, by contractual maturity, are shown in the following schedule. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Schedule amortized cost and fair value of investment securities Weighted (Dollars are in thousands) Amortized Fair Average Securities Available-for-Sale Cost Value Yield Due in one year or less $ 2,521 $ 2,555 1.89 % Due after one year through five years 4,622 4,772 3.82 % Due after five years through ten years 9,461 9,642 2.05 % Due after ten years 79,072 79,062 1.68 % Total $ 95,676 $ 96,031 1.82 % The Bank, as a member of the Federal Reserve Bank and the Federal Home Loan Bank of Atlanta (FHLB), is required to hold stock in each. The Bank also owns stock in CBB Financial Corp., which is a correspondent of the Bank. These equity securities, which are included in Other Assets on the consolidated balance sheet, are restricted from trading and are recorded at a cost of $ 2.0 2.6 |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
LOANS | NOTE 6 LOANS There were no 389 Loans receivable outstanding as of June 30, 2021, and December 31, 2020, are summarized as follows: Schedule of Loans receivable on nonaccrual status (Dollars are in thousands) June 30, December 31, Real estate secured: Commercial $ 197,054 $ 179,381 Construction and land development 27,447 25,031 Residential 1-4 family 215,228 222,980 Multifamily 22,244 16,569 Farmland 19,687 18,368 Total real estate loans 481,660 462,329 Commercial 85,171 86,010 Agriculture 3,922 4,450 Consumer installment loans 19,312 20,632 All other loans 1,849 2,145 Total loans $ 591,914 $ 575,566 Included in commercial loans at June 30, 2021 and December 31, 2020 were $32.7 million and $34.8 million of Paycheck Protection Program (PPP) loans, respectively, that are guaranteed by the Small Business Administration (SBA). Fees paid by SBA for round 1 PPP loans ranged from 1% to 5% of the amount borrowed, with 5% paid on loans up to $350 thousand, 3% on loans between $350 thousand and $2 million, and 1% on loans over $2 million. For round 2 PPP loans the fee structure was modified to the lesser of 50%, or $2.5 thousand for loans up to $50 thousand, 5% on loans ranging from $50 thousand to $350 thousand; 3% on loans between $350 thousand and $2 million and 1% on loans over $2 million. Included in total loans above are net deferred fees of $1.2 million and $456 thousand, including unearned PPP loans fees, at June 30, 2021 and December 31, 2020, respectively. Income from net deferred fees is recognized as income over the lives of the respective loans as a yield adjustment. If loans repay prior to scheduled maturities any unamortized fee or cost is recognized at that time. Loans receivable on nonaccrual status as of June 30, 2021, and December 31, 2020, are summarized as follows: Schedule Of Summary Loans receivable on nonaccrual status (Dollars are in thousands) June 30, December 31, Real estate secured: Commercial $ 853 $ 2,225 Construction and land development 52 57 Residential 1-4 family 2,893 2,700 Farmland 85 101 Total real estate loans 3,883 5,083 Commercial - 453 Consumer installment loans and other loans 9 12 Total loans receivable on nonaccrual status $ 3,892 $ 5,548 Total interest income not recognized on nonaccrual loans for the six months ended June 30, 2021, and June 30, 2020, was $ 264 287 The following tables presents information concerning the Company’s investment in loans considered impaired as of June 30, 2021, and December 31, 2020: Summary of impaired loans As of June 30, 2021 (Dollars are in thousands) Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 142 $ 180 $ - Construction and land development 81 360 - Residential 1-4 family 1,923 2,222 - Multifamily - - - Farmland 559 740 - Commercial - - - Agriculture - - - Consumer installment loans 3 3 - All other loans - - - With an allowance recorded: Real estate secured: Commercial 704 742 181 Construction and land development - - - Residential 1-4 family 226 255 40 Multifamily - - - Farmland - - - Commercial 29 37 4 Agriculture - - - Consumer installment loans - - - All other loans - - - Total $ 3,667 $ 4,539 $ 225 As of December 31, 2020 (Dollars are in thousands) Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 385 $ 386 $ - Construction and land development 99 376 - Residential 1-4 family 1,662 1,898 - Multifamily - - - Farmland 391 560 - Commercial - - - Agriculture - - - Consumer installment loans 5 6 - All other loans - - - With an allowance recorded: Real estate secured: Commercial 1,566 1,678 574 Construction and land development - - - Residential 1-4 family 337 365 72 Multifamily - - - Farmland 208 220 2 Commercial 429 437 404 Agriculture - - - Consumer installment loans - - - All other loans - - - Total $ 5,082 $ 5,926 $ 1,052 The following tables present information concerning the Company’s average impaired loans and interest recognized on those impaired loans, for the periods indicated: Six Months Ended June 30, 2021 June 30, 2020 (Dollars are in thousands) Average Interest Average Interest Real estate secured: Commercial $ 341 $ - $ 2,344 $ 1 Construction and land development 89 9 81 9 Residential 1-4 family 1,828 29 1,674 31 Multifamily - - - - Farmland 508 18 650 10 Commercial - - 98 1 Agriculture - - - - Consumer installment loans 4 - 2 - All other loans - - - - With an allowance recorded: Real estate secured: Commercial 1,235 3 455 - Construction and land development - - - - Residential 1-4 family 288 - 62 - Multifamily - - - - Farmland 69 - 214 4 Commercial 163 1 202 1 Agriculture - - - - Consumer installment loans - - - - All other loans - - - - Total $ 4,525 $ 60 $ 5,782 $ 57 Three Months Ended June 30, 2021 June 30, 2020 (Dollars are in thousands) Average Interest Average Interest Real estate secured: Commercial $ 319 $ - $ 2,308 $ - Construction and land development 85 5 86 5 Residential 1-4 family 1,912 15 1,880 18 Multifamily - - - - Farmland 567 9 587 - Commercial - - 84 - Agriculture - - - - Consumer installment loans 3 - 4 - All other loans - - - - With an allowance recorded: Real estate secured: Commercial 1,070 - 502 - Construction and land development - - - - Residential 1-4 family 264 - 66 - Multifamily - - - - Farmland - - 214 2 Commercial 30 - 160 1 Agriculture - - - - Consumer installment loans - - - - All other loans - - - - Total $ 4,250 $ 29 $ 5,891 $ 26 An age analysis of past due loans receivable as of June 30, 2021, and December 31, 2020, is below. At June 30, 2021 and December 31, 2020, no loans over 90 days past due were accruing. Summary age analysis of past due loans receivable As of June 30, 2021 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 1,720 $ - $ 383 $ 2,103 $ 194,951 $ 197,054 Construction and land development 40 - - 40 27,407 27,447 Residential 1-4 family 2,123 724 402 3,249 211,979 215,228 Multifamily - - - - 22,244 22,244 Farmland - - - - 19,687 19,687 Total real estate loans 3,883 724 785 5,392 476,268 481,660 Commercial 123 24 - 147 85,024 85,171 Agriculture - - - - 3,922 3,922 Consumer installment loans 50 17 1 68 19,244 19,312 All other loans - - - - 1,849 1,849 Total loans $ 4,056 $ 765 $ 786 $ 5,607 $ 586,307 $ 591,914 As of December 31, 2020 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 969 $ - $ - $ 969 $ 178,412 $ 179,381 Construction and land development 64 - - 64 24,967 25,031 Residential 1-4 family 5,717 615 690 7,022 215,958 222,980 Multifamily - - - - 16,569 16,569 Farmland 57 - - 57 18,311 18,368 Total real estate loans 6,807 615 690 8,112 454,217 462,329 Commercial 214 - - 214 85,796 86,010 Agriculture 7 1 - 8 4,442 4,450 Consumer installment Loans 214 22 - 236 20,396 20,632 All other loans - - - - 2,145 2,145 Total loans $ 7,242 $ 638 $ 690 $ 8,570 $ 566,996 $ 575,566 The Company categorizes loans receivable into risk categories based on relevant information about the ability of 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 receivable as to credit risk. The Company uses the following definitions for risk ratings: Pass Special Mention Substandard A substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt; they are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful Loans classified doubtful have all the weaknesses inherent in loans classified as substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. Based on the most recent analysis performed, the risk categories of loans receivable as of June 30, 2021, and December 31, 2020, was as follows: Schedule of summary of category of loans receivable As of June 30, 2021 (Dollars are in thousands) Pass Special Mention Substandard Doubtful Total Real estate secured: Commercial $ 186,824 $ 9,377 $ 853 $ - $ 197,054 Construction and land development 27,281 114 52 - 27,447 Residential 1-4 family 211,779 556 2,893 - 215,228 Multifamily 22,016 228 - - 22,244 Farmland 18,888 714 85 - 19,687 Total real estate loans 466,788 10,989 3,883 - 481,660 Commercial 83,362 1,809 - - 85,171 Agriculture 3,742 180 - - 3,922 Consumer installment loans 19,294 8 10 - 19,312 All other loans 1,849 - - - 1,849 Total $ 575,035 $ 12,986 $ 3,893 $ - $ 591,914 As of December 31, 2020 (Dollars are in thousands) Pass Special Mention Substandard Doubtful Total Real estate secured: Commercial $ 171,212 $ 6,112 $ 2,057 $ - $ 179,381 Construction and land development 23,168 1,806 57 - 25,031 Residential 1-4 family 218,947 1,304 2,729 - 222,980 Multifamily 16,337 232 - - 16,569 Farmland 17,019 1,249 100 - 18,368 Total real estate loans 446,683 10,703 4,943 - 462,329 Commercial 81,846 3,711 453 - 86,010 Agriculture 4,255 195 - - 4,450 Consumer installment loans 20,615 5 12 - 20,632 All other loans 2,145 - - - 2,145 Total $ 555,544 $ 14,614 $ 5,408 $ - $ 575,566 |
ALLOWANCE FOR LOAN LOSSES
ALLOWANCE FOR LOAN LOSSES | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
ALLOWANCE FOR LOAN LOSSES | NOTE 7 ALLOWANCE FOR LOAN LOSSES In determining the amount of our allowance for loan losses, we rely on an analysis of our loan portfolio, our experience and our evaluation of general economic conditions. If our assumptions prove to be incorrect, our current allowance may not be sufficient to cover future loan losses and we may experience significant increases to our provision. Due to the underlying SBA guarantee provided for PPP loans, these accounts were not included in either the portfolio segment or impairment calculations at June 30, 2021 and December 31, 2020. Additionally, due to uncertainties presented by the ongoing pandemic and the resulting economic uncertainty, internal and external qualitative factors were revised accordingly. This revision included reviewing our internal scoring related to loan modifications and extensions, and external factors, specifically, unemployment and other economic factors. The following table presents activity in the allowance for loan losses for the six- and three-month periods ending June 30, 2021 and 2020, respectively. Additionally, the allocation of the allowance by recorded portfolio segment and impairment method is presented as of June 30, 2021, and December 31, 2020, respectively. Summary of activity in the allowance for loan losses Real estate secured (Dollars are in thousands) Six months ended June 30, 2021 Commercial Construction and Land Development Residential 1-4 family Multifamily Farmland Commercial Agriculture Consumer and All Other Unallocated Total Beginning balance $ 2,281 $ 233 $ 1,951 $ 151 $ 97 $ 2,275 $ 40 $ 163 $ - $ 7,191 Charge-offs (915 ) - (10 ) - - (92 ) - (28 ) - (1,045 ) Recoveries 2 - 17 - - 131 1 27 - 178 Provision 783 (78 ) 88 9 40 (398 ) (13 ) (59 ) - 372 Ending balance $ 2,151 $ 155 $ 2,046 $ 160 $ 137 $ 1,916 $ 28 $ 103 $ - $ 6,696 Three months ended June 30, 2021 Beginning balance $ 2,461 $ 186 $ 2,283 $ 165 $ 156 $ 1,885 $ 33 $ 124 $ - $ 7,293 Charge-offs (915 ) - (4 ) - - - - (15 ) - (934 ) Recoveries - - 9 - - 131 1 10 - 151 Provision 605 (31 ) (242 ) (5 ) (19 ) (100 ) (6 ) (16 ) - 186 Ending balance $ 2,151 $ 155 $ 2,046 $ 160 $ 137 $ 1,916 $ 28 $ 103 $ - $ 6,696 Allowance for loan losses at June 30, 2021 Individually evluated for impairment $ 181 $ - $ 40 $ - $ - $ 4 $ - $ - $ - $ 225 Collectively evaluated for impairment 1,970 155 2,006 160 137 1,912 28 103 - 6,471 Total $ 2,151 $ 155 $ 2,046 $ 160 $ 137 $ 1,916 $ 28 $ 103 $ - $ 6,696 Loans at June 30, 2021 Individually evluated for impairment $ 846 $ 81 $ 2,149 $ — $ 559 $ 29 $ — $ 3 $ — $ 3,667 Collectively evaluated for impairment 196,208 27,366 213,079 22,244 19,128 85,142 3,922 21,158 — 588,247 Total $ 197,054 $ 27,447 $ 215,228 $ 22,244 $ 19,687 $ 85,171 $ 3,922 $ 21,161 $ — $ 591,914 Real estate secured (Dollars are in thousands) Commercial Construction and Land Development Residential 1-4 family Multifamily Farmland Commercial Agriculture Consumer and All Other Unallocated Total Allowance for loan losses at December 31, 2020 Individually evluated for impairment $ 574 $ - $ 72 $ - $ 2 $ 404 $ - $ - $ - $ 1,052 Collectively evaluated for impairment 1,707 233 1,879 151 95 1,871 40 163 - 6,139 Total $ 2,281 $ 233 $ 1,951 $ 151 $ 97 $ 2,275 $ 40 $ 163 $ - $ 7,191 Loans at December 31, 2020 Individually evluated for impairment $ 1,951 $ 99 $ 1,999 $ - $ 599 $ 429 $ - $ 5 $ - $ 5,082 Collectively evaluated for impairment 177,430 24,932 220,981 16,569 17,769 85,581 4,450 22,772 - 570,484 Total $ 179,381 $ 25,031 $ 222,980 $ 16,569 $ 18,368 $ 86,010 $ 4,450 $ 22,777 $ - $ 575,566 Real estate secured (Dollars are in thousands) Commercial Construction and Land Development Residential 1-4 family Multifamily Farmland Commercial Agriculture Consumer and All Other Unallocated Total Six months ended June 30, 2020 Beginning balance $ 1,248 $ 158 $ 1,736 $ 104 $ 109 $ 1,789 $ 27 $ 195 $ 2 $ 5,368 Charge-offs (22 ) - - - (42 ) (324 ) (15 ) (46 ) - (449 ) Recoveries 2 - 17 - 33 31 1 22 - 106 Provision 826 11 286 41 21 321 36 10 (2 ) 1,550 Ending balance $ 2,054 $ 169 $ 2,039 $ 145 $ 121 $ 1,817 $ 49 $ 181 $ - $ 6,575 Three months ended June 30, 2020 Beginning balance $ 1,680 $ 214 $ 2,077 $ 132 $ 146 $ 1,856 $ 39 $ 193 $ - $ 6,337 Charge-offs - - - - - (311 ) (15 ) (13 ) - (339 ) Recoveries - - 9 - - 2 - 16 - 27 Provision 374 (45 ) (47 ) 13 (25 ) 270 25 (15 ) - 550 Ending balance $ 2,054 $ 169 $ 2,039 $ 145 $ 121 $ 1,817 $ 49 $ 181 $ - $ 6,575 Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. |
TROUBLED DEBT RESTRUCTURINGS
TROUBLED DEBT RESTRUCTURINGS | 6 Months Ended |
Jun. 30, 2021 | |
Troubled Debt Restructurings | |
TROUBLED DEBT RESTRUCTURINGS | NOTE 8 TROUBLED DEBT RESTRUCTURINGS There were $3.0 million in loans that were classified as troubled debt restructurings (TDRs) at June 30, 2021 and $4.0 million at December 31, 2020. All loans considered to be TDRs are individually evaluated for impairment as part of the allowance for loan losses calculation. No loans modified during the six months ended June 30, 2021. During the six months ended June 30, 2020, the Company modified 31 loans for which the modification was considered to be a TDR The following table presents information related to loans modified as TDRs during the six and three months ended June 30, 2021 and 2020. Schedule of loans modified as TDRs For the six months ended For the six months ended Troubled Debt Restructurings (Dollars are in thousands) # of Loans Pre-Mod. Recorded Investment Post-Mod. # of Pre-Mod. Post-Mod. Real estate secured: Commercial - $ - $ - 3 $ 190 $ 190 Construction and land Development - - - - - - Residential 1-4 family - - - 26 1,204 1,204 Multifamily - - - - - - Farmland - - - - - - Total real estate loans - - - 29 1,394 1,394 Commercial Agriculture - - - - - - Consumer installment loans - - - 2 7 7 All other loans - - - - - - Total - $ - $ - 31 $ 1,401 $ 1,401 For the three months ended June 30, 2021 For the three months ended June 30, 2020 Troubled Debt Restructurings (Dollars are in thousands) # of Loans Pre-Mod. Recorded Investment Post-Mod. Recorded Investment # of Loans Pre-Mod. Recorded Investment Post-Mod. Recorded Investment Real estate secured: Commercial - $ - $ - 3 $ 190 $ 190 Construction and land Development - - - - - - Residential 1-4 family - - - 26 1,204 1,204 Multifamily - - - - - - Farmland - - - - - - Total real estate loans - - - 29 1,394 1,394 Commercial Agriculture - - - - - - Consumer installment loans - - - 2 7 7 All other loans - - - - - - Total - $ - $ - 31 $ 1,401 $ 1,401 During the three months ended June 30, 2021, the Company had no loans modified for which the modification would be considered to be a TDR. No modified loans were considered to be TDRs during the first three months of 2021. During the three months ended June 30, 2020, the Company modified 31 loans for which the modification was considered to be a TDR. The payment terms of these loans were modified to defer payments for 90 days or more at a time when the loans did not qualify for forbearance treatment due to either delinquency or prior modification. No modified loans were considered to be TDRs during the first three months of 2020. During the three months ended June 30, 2021, two loans to the same borrower, previously modified as TDRs, totaling $1.1 million defaulted, resulting in charge-offs totaling $835 thousand. No loans previously modified as TDRs defaulted during the first three months of 2021. Generally, a TDR is considered to be in default once it becomes 90 days or more past due following a modification. During the three months ended June 30, 2020, no loans previously modified as TDRs defaulted. One loan previously modified as a TDR, with a balance of $ 663 In determining the allowance for loan losses, management considers TDRs and subsequent defaults in these restructurings in its estimate. The Company evaluates all TDRs for possible further impairment. As a result, the allowance may be increased, adjustments may be made in the allocation of the allowance, or charge-offs may be taken to further write down the carrying value of the loan. |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 6 Months Ended |
Jun. 30, 2021 | |
Real Estate [Abstract] | |
OTHER REAL ESTATE OWNED | NOTE 9 OTHER REAL ESTATE OWNED The following table summarizes the activity in other real estate owned for the six months ended June 30, 2021, and the year ended December 31, 2020: Schedule Of other real estate owned (Dollars are in thousands) June 30, 2021 December 31, 2020 Balance, beginning of period $ 3,334 $ 3,393 Additions 513 1,128 Proceeds from sales (1,485 ) (687 ) Loans made to finance sales - (428 ) Adjustment of carrying value (28 ) (132 ) (Losses) gains from sales (65 ) 60 Balance, end of period $ 2,269 $ 3,334 |
FAIR VALUES
FAIR VALUES | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUES | NOTE 10 FAIR VALUES The financial reporting standard, “Fair Value Measurements and Disclosures” provides a framework for measuring fair value under generally accepted accounting principles and requires disclosures about the fair value of assets and liabilities recognized in the balance sheet in periods subsequent to initial recognition, whether the measurements are made on a recurring basis (for example, available-for-sale investment securities) or on a nonrecurring basis (for example, impaired loans and other real estate acquired through foreclosure). Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair Value Measurements and Disclosures also establish fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. Level 1: Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an exchange market, as well as U. S. Treasury, other U. S. Government and agency mortgage-backed debt securities that are highly liquid and are actively traded in over-the-counter markets. Level 2: Significant observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes certain derivative contracts and impaired loans. Level 3: Significant unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. For example, this category generally includes certain private equity investments, retained residual interests in securitizations, residential mortgage servicing rights, and highly structured or long-term derivative contracts. Investment Securities Available for Sale Loans - Foreclosed Assets – Assets and liabilities measured at fair value are as follows as of June 30, 2021 (for purpose of this table the impaired loans are shown net of the related allowance): Schedule Assets and liabilities measured at fair value June 30, 2021 Quoted market price in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (On a recurring basis) Available for sale investments U.S. Government Agencies $ - $ 13,954 $ - Taxable municipals - 20,496 - Corporate bonds - 4,184 - Mortgage-backed securities - 57,397 - (On a non-recurring basis) Other real estate owned - - 2,269 Impaired loans - - 3,442 Total $ - $ 96,031 $ 5,711 Assets and liabilities measured at fair value are as follows as of December 31, 2020 (for purpose of this table the impaired loans are shown net of the related allowance): December 31, 2020 Quoted market price in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (On a recurring basis) Available for sale investments U.S. Government Agencies $ - $ 14,107 $ - Taxable municipals - 5,345 - Corporate bonds - 6,048 - Mortgage-backed securities - 22,906 - (On a non-recurring basis) Other real estate owned - - 3,334 Impaired loans - - 4,030 Total $ - $ 48,406 $ 7,364 For Level 3 assets measured at fair value on a recurring or non-recurring basis as of June 30, 2021 and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Schedule of significant unobservable inputs Level 3 assets (Dollars in thousands) Fair Value at June 30, 2021 Fair Value at December 31, 2020 Valuation Technique Significant Unobservable Inputs General Range of Significant Unobservable Input Values Impaired Loans $ 3,442 $ 4,030 Appraised Value/Discounted Cash Flows/Market Value of Note Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0 18 Other Real Estate Owned $ 2,269 $ 3,334 Appraised Value/Comparable Sales/Other Estimates from Independent Sources Discounts to reflect current market conditions and estimated costs to sell 0 18 Fair Value of Financial Instruments Fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practical to estimate the value is based upon the characteristics of the instruments and relevant market information. Financial instruments include cash, evidence of ownership in an entity, or contracts that convey or impose on an entity that contractual right or obligation to either receive or deliver cash for another financial instrument. The following summary presents the methodologies and assumptions used to estimate the fair value of the Company’s financial instruments presented below. The information used to determine fair value is highly subjective and judgmental in nature and, therefore, the results may not be precise. Subjective factors include, among other things, estimates of cash flows, risk characteristics, credit quality, and interest rates, all of which are subject to change. Since the fair value is estimated as of the balance sheet date, the amounts that will actually be realized or paid upon settlement or maturity on these various instruments could be significantly different. The carrying amount and fair value of the Company’s financial instruments that are not required to be measured or reported at fair value on a recurring basis as of June 30, 2021, and December 31, 2020, are as follows: Schedule fair value financial instruments Fair Value Measurements (Dollars are in thousands) Carrying Amount Fair Value Quoted market price in active markets Significant other observable inputs Significant unobservable inputs June 30, 2021 Financial Instruments – Assets Net Loans $ 585,218 $ 580,931 $ - $ 577,489 $ 3,442 Financial Instruments – Liabilities Time Deposits 212,436 215,240 - 215,240 - Borrowed funds 16,496 14,358 - 14,358 - December 31, 2020 Financial Instruments – Assets Net Loans $ 568,375 $ 564,664 $ - $ 560,634 $ 4,030 Financial Instruments – Liabilities Time Deposits 234,449 237,768 - 237,768 - Borrowed funds 21,496 16,788 - 16,788 - Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions can significantly affect the estimates. Estimated fair values have been determined by the Company using historical data, as generally provided in the Company’s regulatory reports, and an estimation methodology suitable for each category of financial instruments. The Company’s fair value estimates, methods and assumptions are set forth below for the Company’s other financial instruments. The carrying values of cash and due from banks, federal funds sold, interest-bearing deposits, deposits with no stated maturities, trust preferred securities and accrued interest approximates fair value and are excluded from the table above. In accordance with our adoption of Accounting Standards Update (ASU) 2016-01 in 2018, the methods utilized to measure the fair value of financial instruments at June 30, 2021 and December 31, 2020, represent an approximation of exit price; however, an actual exit price may differ. |
LEASING ACTIVITIES
LEASING ACTIVITIES | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
LEASING ACTIVITIES | NOTE 11 LEASING ACTIVITIES As of June 30, 2021, the Bank leases five branch office sites resulting from sale leaseback transactions entered into in 2017 and 2019. The lease agreements have maturity dates ranging from May 2032 to September 2034. It is assumed that there are currently no circumstances in which the leases would be terminated prior to expiration. The weighted average remaining life of the lease terms at June 30, 2021 was 11.39 The discount rate used in determining the lease liability for each individual lease was the FHLB fixed advance rate which corresponded to the lease term for each transaction. This methodology is expected to be used for any other subsequent lease agreements. The weighted average discount rate for the leases at June 30, 2021 was 3.16 For the six months ended June 30, 2021 and 2020, operating lease expenses were $ 275 286 The Company’s other operating leases were evaluated and determined to be immaterial to the financial statements. At June 30, 2021, future minimum rental commitments under the non-cancellable operating leases discussed above are as follows (dollars are in thousands): Schedule Of non-cancellable operating lease 2021 $ 255 2022 530 2023 544 2024 546 2025 550 Thereafter 3,978 Total lease payments 6,403 Less imputed interest 1,155 Total $ 5,248 |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 6 Months Ended |
Jun. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE FROM CONTRACTS WITH CUSTOMERS | NOTE 12 REVENUE FROM CONTRACTS WITH CUSTOMERS All our revenue from contracts with customers as defined in ASC 606 is recognized within Noninterest income. The following table presents Noninterest income by revenue stream for the three and six months ended June 30, 2021 and 2020. Schedule of Redeemable Noncontrolling Interest For the three months ended For the six months ended June 30, June 30, (Dollars in thousands) 2021 2020 2021 2020 Service charges and fees $ 841 $ 528 $ 1,673 $ 1,379 Card Processing and interchange income 1,072 835 1,936 1,588 Net gain on sale of securities available-for- sale (1) - - - 4 Insurance and investment fees 275 109 501 241 Other noninterest income 190 156 397 585 Total Noninterest Income $ 2,378 $ 1,628 $ 4,507 $ 3,797 (1) Not within the scope of ASU 2014-09 |
NONINTEREST EXPENSES
NONINTEREST EXPENSES | 6 Months Ended |
Jun. 30, 2021 | |
Noninterest Expenses | |
NONINTEREST EXPENSES | NOTE 13 NONINTEREST EXPENSES Other operating expenses, included as part of noninterest expenses, consisted of the following for the periods presented: Schedule of noninterest expenses For the three months ended June 30, For the six months ended June 30, (Dollars are in thousands) 2021 2020 2021 2020 Advertising $ 73 $ 59 $ 108 $ 124 ATM network expense 403 364 745 756 Legal, accounting and professional fees 303 256 588 490 Consulting fees 93 38 148 361 Loan related expenses 143 80 250 187 Printing and supplies 24 30 60 67 FDIC insurance premiums 67 101 137 194 Other real estate owned expenses, net 41 133 138 196 Other operating expenses 641 506 1,135 1,209 Total other operating expenses $ 1,788 $ 1,567 $ 3,309 $ 3,584 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14 SUBSEQUENT EVENTS Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. There were no subsequent events requiring recognition or disclosure. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING DEVELOPMENTS | NOTE 15 RECENT ACCOUNTING DEVELOPMENTS The following is a summary of recent authoritative announcements: In June 2016, per ASU No. 2016-13, ‘Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,’ the Financial Accounting Standards Board (the FASB) issued guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. Subsequently, per ASU No. 2019-10, implementation for the Company is delayed until reporting periods beginning after December 15, 2022. Early adoption is permitted for all organizations for periods beginning after December 15, 2018. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. In May 2019, the FASB issued targeted transition relief for entities which irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the amendments to the transition guidance for ASU 2016-13 will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Subsequently, per ASU No. 2019-10, implementation for the Company is delayed until reporting periods beginning after December 15, 2021. The Company is currently in the process of evaluating the impact of adoption of this guidance on its financial statements. In November 2019, the FASB released ASU 2019-10, ‘Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842),’ in which the FASB shared a new philosophy to extend and simplify how effective dates for certain major Updates would be staggered between larger public companies (bucket one) and all other entities (bucket two). A major Update would first be effective for bucket-one entities. For bucket-two entities, including the Company, it is anticipated that the FASB will consider requiring an effective date staggered at least two years after bucket one for major Updates. Generally, it is expected that early application would continue to be allowed for all entities. The Company is considered a bucket-two entity due to its eligibility to be a smaller reporting company, per the Securities and Exchange Commission (the SEC). This Update applies to ASU 2016-13, as discussed above, ASU 2017-12, which does not apply to the Company, and ASU 2016-02, which the Company has already early-adopted. In December 2019, the FASB released ASU 2019-12, ‘Income Taxes (Topic 740),’ which simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, improve consistent application, and simplify GAAP for other areas of Topic 740. The amendments in this Update are effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company does not expect these amendments to have a material effect on its financial statements. In January 2020, the FASB released ASU 2020-01, ‘Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815),’ which clarify certain interactions between the guidance to account for certain equity securities under Topic 321, 323 and 815, and improve current GAAP by reducing diversity in practice and increasing comparability of accounting. The amendments in this Update are effective for the Company for fiscal years beginning after December 31, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In March 2020, the FASB released ASU 2020-03, ‘Codification Improvements to Financial Instruments,’ as part of its ongoing project for improving the Codification or correcting its unintended application. This Update is being issued to increase stakeholder awareness of these amendments. These amendments affect Fair Value Option Disclosures, Applicability of Portfolio Exception in Topic 820 to Nonfinancial Items, Disclosures for Depository and Lending Institutions, Cross-Reference to Line-of-Credit or Revolving-Debt Arrangements Guidance in Subtopic 470-50, Cross-Reference to Net Asset Value Practical Expedient in Subtopic 820-10, Interaction of Topic 842 and Topic 326, and Interaction of Topic 326 and Subtopic 860-20. The amendments in this update are effective immediately. The Company does not expect these amendments to have a material effect on its financial statements. In March 2020, the FASB released ASU 2020-04, ‘Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting,’ which provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform. The amendments in this Update are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference the London Interbank Offering Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. The amendments in the Update are effective for the Company as of March 12, 2020 through December 31, 2022. The Company is currently in the process of evaluating the impact of adoption of this guidance, but does not expect this amendment to have a material impact on its financial statements. In August 2020, the FASB released ASU 2020-06, ‘Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity,’ which reduces the number of accounting models for convertible debt instruments and convertible preferred stock. The Board concluded that eliminating certain accounting models simplifies the accounting for convertible instruments, reduces complexity for preparers and practitioners, and improves the decision usefulness and relevance of the information provided to financial statement users. The amendments in this Update are effective for the Company for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company does not expect these amendments to have a material effect on its financial statements. In January 2021, the FASB released ASU 2021-01, ‘Reference Rate Reform (Topic 848),’ which clarifies that certain optional expedients and exceptions in topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition related to reference rate reform. The amendments in this Update are effective immediately for all entities. An entity may elect to apply the amendments in the Update on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final Update, up to the date that financial statements are available to be issued. The Company does not expect this amendment to have a material effect on its financial statements. In July 2021, the FASB released ASU 2021-05, ‘Lessors – Certain Leases with Variable Lease Payments (Topic 842),’ amends the lease classification requirements for lessors to align them with practice under Topic 840. The amendments in this Update amend Topic 842 and are effective for the Company for fiscal years beginning after December 15, 2021, and for interim periods within fiscal years beginning after December 13, 2022. The Company may elect either (1) to retrospectively apply the amendments to leases that commenced or were modified on or after the adoption of Update 2016-02 or (2) prospectively to leases that commence or are modified on or after the date that the Company first applies the amendments. The Company does not expect this amendment to have a material effect on its financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
INCOME PER SHARE (Tables)
INCOME PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Income Per Share | |
Schedule Basic and diluted net income per common share | Schedule Basic and diluted net income per common share (Dollars in Thousands, Except Share and Per Share Data) For the three months For the six months 2021 2020 2021 2020 Net income $ 1,663 $ 29 $ 3,248 $ 75 Weighted average shares outstanding 23,922,086 23,922,086 23,922,086 23,922,086 Weighted average dilutive shares outstanding 23,922,086 23,922,086 23,922,086 23,922,086 Basic and diluted income per share $ 0.07 $ 0.00 $ 0.14 $ 0.00 |
CAPITAL (Tables)
CAPITAL (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Schedule Bank’s actual capital amounts and ratios | Schedule Bank’s actual capital amounts and ratios Actual Minimum Capital Requirement Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars are in thousands) Amount Ratio Amount Ratio Amount Ratio June 30, 2021: Total Capital to Risk Weighted Assets $ 80,710 16.08 % $ 40,165 8.0 % $ 50,207 10.0 % Tier 1 Capital to Risk Weighted Assets 74,429 14.82 % 30,124 6.0 % 40,165 8.0 % Tier 1 Capital to Average Assets 74,429 9.19 % 32,386 4.0 % 40,483 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 74,429 14.82 % 22,593 4.5 % 32,634 6.5 % December 31, 2020: Total Capital to Risk Weighted Assets $ 77,133 16.41 % $ 37,603 8.0 % $ 47,028 10.0 % Tier 1 Capital to Risk Weighted Assets 71,241 15.16 % 28,202 6.0 % 37,603 8.0 % Tier 1 Capital to Average Assets 71,241 9.49 % 30,036 4.0 % 37,545 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 71,241 15.16 % 21,152 4.5 % 30,552 6.5 % |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Investment securities activity | |
Schedule of estimated fair value of available-for-sale (AFS) securities | Schedule of estimated fair value of available-for-sale (AFS) securities Gross Gross Approximate Amortized Unrealized Unrealized Fair (Dollars are in thousands) Cost Gains Losses Value June 30, 2021 U.S. Government Agencies $ 13,712 $ 299 $ 57 $ 13,954 Taxable municipals 20,305 247 56 20,496 Corporate bonds 4,037 147 - 4,184 Mortgage-backed securities 57,622 311 536 57,397 Total Securities AFS $ 95,676 $ 1,004 $ 649 $ 96,031 December 31, 2020 U.S. Government Agencies $ 13,852 $ 322 $ 67 $ 14,107 Taxable municipals 5,157 188 - 5,345 Corporate bonds 5,893 186 31 6,048 Mortgage-backed securities 22,565 388 47 22,906 Total Securities AFS $ 47,467 $ 1,084 $ 145 $ 48,406 |
Schedule of unrealized loss position | Schedule of unrealized loss position Less than 12 Months 12 Months or More Total (Dollars are in thousands) Fair Value Unrealized Fair Unrealized Fair Unrealized June 30, 2021 U.S. Government Agencies $ 966 $ 18 $ 3,080 $ 39 $ 4,046 $ 57 Taxable municipals 4,532 56 - - 4,532 56 Corporate bonds 500 - - - 500 - Mortgage-backed securities 42,857 533 158 3 43,015 536 Total Securities AFS $ 48,855 $ 607 $ 3,238 $ 42 $ 52,093 $ 649 December 31, 2020 U.S. Government Agencies $ 1,479 $ 12 $ 3,829 $ 55 $ 5,308 $ 67 Taxable municipals - - - - - - Corporate bonds 1,219 31 - - 1,219 31 Mortgage-backed securities 7,517 44 218 3 7,735 47 Total Securities AFS $ 10,215 $ 87 $ 4,047 $ 58 $ 14,262 $ 145 |
Schedule summarizes sales of AFS debt securities | Schedule summarizes sales of AFS debt securities (Dollars are in thousands) 2021 2020 Proceeds $ - $ 1,025 Gains - 7 Losses - (3 ) Tax benefit - (1 ) |
Schedule amortized cost and fair value of investment securities | Schedule amortized cost and fair value of investment securities Weighted (Dollars are in thousands) Amortized Fair Average Securities Available-for-Sale Cost Value Yield Due in one year or less $ 2,521 $ 2,555 1.89 % Due after one year through five years 4,622 4,772 3.82 % Due after five years through ten years 9,461 9,642 2.05 % Due after ten years 79,072 79,062 1.68 % Total $ 95,676 $ 96,031 1.82 % |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
Schedule of Loans receivable on nonaccrual status | Schedule of Loans receivable on nonaccrual status (Dollars are in thousands) June 30, December 31, Real estate secured: Commercial $ 197,054 $ 179,381 Construction and land development 27,447 25,031 Residential 1-4 family 215,228 222,980 Multifamily 22,244 16,569 Farmland 19,687 18,368 Total real estate loans 481,660 462,329 Commercial 85,171 86,010 Agriculture 3,922 4,450 Consumer installment loans 19,312 20,632 All other loans 1,849 2,145 Total loans $ 591,914 $ 575,566 |
Schedule Of Summary Loans receivable on nonaccrual status | Schedule Of Summary Loans receivable on nonaccrual status (Dollars are in thousands) June 30, December 31, Real estate secured: Commercial $ 853 $ 2,225 Construction and land development 52 57 Residential 1-4 family 2,893 2,700 Farmland 85 101 Total real estate loans 3,883 5,083 Commercial - 453 Consumer installment loans and other loans 9 12 Total loans receivable on nonaccrual status $ 3,892 $ 5,548 |
Summary of impaired loans | Summary of impaired loans As of June 30, 2021 (Dollars are in thousands) Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 142 $ 180 $ - Construction and land development 81 360 - Residential 1-4 family 1,923 2,222 - Multifamily - - - Farmland 559 740 - Commercial - - - Agriculture - - - Consumer installment loans 3 3 - All other loans - - - With an allowance recorded: Real estate secured: Commercial 704 742 181 Construction and land development - - - Residential 1-4 family 226 255 40 Multifamily - - - Farmland - - - Commercial 29 37 4 Agriculture - - - Consumer installment loans - - - All other loans - - - Total $ 3,667 $ 4,539 $ 225 As of December 31, 2020 (Dollars are in thousands) Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 385 $ 386 $ - Construction and land development 99 376 - Residential 1-4 family 1,662 1,898 - Multifamily - - - Farmland 391 560 - Commercial - - - Agriculture - - - Consumer installment loans 5 6 - All other loans - - - With an allowance recorded: Real estate secured: Commercial 1,566 1,678 574 Construction and land development - - - Residential 1-4 family 337 365 72 Multifamily - - - Farmland 208 220 2 Commercial 429 437 404 Agriculture - - - Consumer installment loans - - - All other loans - - - Total $ 5,082 $ 5,926 $ 1,052 The following tables present information concerning the Company’s average impaired loans and interest recognized on those impaired loans, for the periods indicated: Six Months Ended June 30, 2021 June 30, 2020 (Dollars are in thousands) Average Interest Average Interest Real estate secured: Commercial $ 341 $ - $ 2,344 $ 1 Construction and land development 89 9 81 9 Residential 1-4 family 1,828 29 1,674 31 Multifamily - - - - Farmland 508 18 650 10 Commercial - - 98 1 Agriculture - - - - Consumer installment loans 4 - 2 - All other loans - - - - With an allowance recorded: Real estate secured: Commercial 1,235 3 455 - Construction and land development - - - - Residential 1-4 family 288 - 62 - Multifamily - - - - Farmland 69 - 214 4 Commercial 163 1 202 1 Agriculture - - - - Consumer installment loans - - - - All other loans - - - - Total $ 4,525 $ 60 $ 5,782 $ 57 Three Months Ended June 30, 2021 June 30, 2020 (Dollars are in thousands) Average Interest Average Interest Real estate secured: Commercial $ 319 $ - $ 2,308 $ - Construction and land development 85 5 86 5 Residential 1-4 family 1,912 15 1,880 18 Multifamily - - - - Farmland 567 9 587 - Commercial - - 84 - Agriculture - - - - Consumer installment loans 3 - 4 - All other loans - - - - With an allowance recorded: Real estate secured: Commercial 1,070 - 502 - Construction and land development - - - - Residential 1-4 family 264 - 66 - Multifamily - - - - Farmland - - 214 2 Commercial 30 - 160 1 Agriculture - - - - Consumer installment loans - - - - All other loans - - - - Total $ 4,250 $ 29 $ 5,891 $ 26 |
Summary age analysis of past due loans receivable | Summary age analysis of past due loans receivable As of June 30, 2021 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 1,720 $ - $ 383 $ 2,103 $ 194,951 $ 197,054 Construction and land development 40 - - 40 27,407 27,447 Residential 1-4 family 2,123 724 402 3,249 211,979 215,228 Multifamily - - - - 22,244 22,244 Farmland - - - - 19,687 19,687 Total real estate loans 3,883 724 785 5,392 476,268 481,660 Commercial 123 24 - 147 85,024 85,171 Agriculture - - - - 3,922 3,922 Consumer installment loans 50 17 1 68 19,244 19,312 All other loans - - - - 1,849 1,849 Total loans $ 4,056 $ 765 $ 786 $ 5,607 $ 586,307 $ 591,914 As of December 31, 2020 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 969 $ - $ - $ 969 $ 178,412 $ 179,381 Construction and land development 64 - - 64 24,967 25,031 Residential 1-4 family 5,717 615 690 7,022 215,958 222,980 Multifamily - - - - 16,569 16,569 Farmland 57 - - 57 18,311 18,368 Total real estate loans 6,807 615 690 8,112 454,217 462,329 Commercial 214 - - 214 85,796 86,010 Agriculture 7 1 - 8 4,442 4,450 Consumer installment Loans 214 22 - 236 20,396 20,632 All other loans - - - - 2,145 2,145 Total loans $ 7,242 $ 638 $ 690 $ 8,570 $ 566,996 $ 575,566 |
Schedule of summary of category of loans receivable | Schedule of summary of category of loans receivable As of June 30, 2021 (Dollars are in thousands) Pass Special Mention Substandard Doubtful Total Real estate secured: Commercial $ 186,824 $ 9,377 $ 853 $ - $ 197,054 Construction and land development 27,281 114 52 - 27,447 Residential 1-4 family 211,779 556 2,893 - 215,228 Multifamily 22,016 228 - - 22,244 Farmland 18,888 714 85 - 19,687 Total real estate loans 466,788 10,989 3,883 - 481,660 Commercial 83,362 1,809 - - 85,171 Agriculture 3,742 180 - - 3,922 Consumer installment loans 19,294 8 10 - 19,312 All other loans 1,849 - - - 1,849 Total $ 575,035 $ 12,986 $ 3,893 $ - $ 591,914 As of December 31, 2020 (Dollars are in thousands) Pass Special Mention Substandard Doubtful Total Real estate secured: Commercial $ 171,212 $ 6,112 $ 2,057 $ - $ 179,381 Construction and land development 23,168 1,806 57 - 25,031 Residential 1-4 family 218,947 1,304 2,729 - 222,980 Multifamily 16,337 232 - - 16,569 Farmland 17,019 1,249 100 - 18,368 Total real estate loans 446,683 10,703 4,943 - 462,329 Commercial 81,846 3,711 453 - 86,010 Agriculture 4,255 195 - - 4,450 Consumer installment loans 20,615 5 12 - 20,632 All other loans 2,145 - - - 2,145 Total $ 555,544 $ 14,614 $ 5,408 $ - $ 575,566 |
ALLOWANCE FOR LOAN LOSSES (Tabl
ALLOWANCE FOR LOAN LOSSES (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
Summary of activity in the allowance for loan losses | Summary of activity in the allowance for loan losses Real estate secured (Dollars are in thousands) Six months ended June 30, 2021 Commercial Construction and Land Development Residential 1-4 family Multifamily Farmland Commercial Agriculture Consumer and All Other Unallocated Total Beginning balance $ 2,281 $ 233 $ 1,951 $ 151 $ 97 $ 2,275 $ 40 $ 163 $ - $ 7,191 Charge-offs (915 ) - (10 ) - - (92 ) - (28 ) - (1,045 ) Recoveries 2 - 17 - - 131 1 27 - 178 Provision 783 (78 ) 88 9 40 (398 ) (13 ) (59 ) - 372 Ending balance $ 2,151 $ 155 $ 2,046 $ 160 $ 137 $ 1,916 $ 28 $ 103 $ - $ 6,696 Three months ended June 30, 2021 Beginning balance $ 2,461 $ 186 $ 2,283 $ 165 $ 156 $ 1,885 $ 33 $ 124 $ - $ 7,293 Charge-offs (915 ) - (4 ) - - - - (15 ) - (934 ) Recoveries - - 9 - - 131 1 10 - 151 Provision 605 (31 ) (242 ) (5 ) (19 ) (100 ) (6 ) (16 ) - 186 Ending balance $ 2,151 $ 155 $ 2,046 $ 160 $ 137 $ 1,916 $ 28 $ 103 $ - $ 6,696 Allowance for loan losses at June 30, 2021 Individually evluated for impairment $ 181 $ - $ 40 $ - $ - $ 4 $ - $ - $ - $ 225 Collectively evaluated for impairment 1,970 155 2,006 160 137 1,912 28 103 - 6,471 Total $ 2,151 $ 155 $ 2,046 $ 160 $ 137 $ 1,916 $ 28 $ 103 $ - $ 6,696 Loans at June 30, 2021 Individually evluated for impairment $ 846 $ 81 $ 2,149 $ — $ 559 $ 29 $ — $ 3 $ — $ 3,667 Collectively evaluated for impairment 196,208 27,366 213,079 22,244 19,128 85,142 3,922 21,158 — 588,247 Total $ 197,054 $ 27,447 $ 215,228 $ 22,244 $ 19,687 $ 85,171 $ 3,922 $ 21,161 $ — $ 591,914 |
TROUBLED DEBT RESTRUCTURINGS (T
TROUBLED DEBT RESTRUCTURINGS (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Troubled Debt Restructurings | |
Schedule of loans modified as TDRs | Schedule of loans modified as TDRs For the six months ended For the six months ended Troubled Debt Restructurings (Dollars are in thousands) # of Loans Pre-Mod. Recorded Investment Post-Mod. # of Pre-Mod. Post-Mod. Real estate secured: Commercial - $ - $ - 3 $ 190 $ 190 Construction and land Development - - - - - - Residential 1-4 family - - - 26 1,204 1,204 Multifamily - - - - - - Farmland - - - - - - Total real estate loans - - - 29 1,394 1,394 Commercial Agriculture - - - - - - Consumer installment loans - - - 2 7 7 All other loans - - - - - - Total - $ - $ - 31 $ 1,401 $ 1,401 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Real Estate [Abstract] | |
Schedule Of other real estate owned | Schedule Of other real estate owned (Dollars are in thousands) June 30, 2021 December 31, 2020 Balance, beginning of period $ 3,334 $ 3,393 Additions 513 1,128 Proceeds from sales (1,485 ) (687 ) Loans made to finance sales - (428 ) Adjustment of carrying value (28 ) (132 ) (Losses) gains from sales (65 ) 60 Balance, end of period $ 2,269 $ 3,334 |
FAIR VALUES (Tables)
FAIR VALUES (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule Assets and liabilities measured at fair value | Schedule Assets and liabilities measured at fair value June 30, 2021 Quoted market price in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (On a recurring basis) Available for sale investments U.S. Government Agencies $ - $ 13,954 $ - Taxable municipals - 20,496 - Corporate bonds - 4,184 - Mortgage-backed securities - 57,397 - (On a non-recurring basis) Other real estate owned - - 2,269 Impaired loans - - 3,442 Total $ - $ 96,031 $ 5,711 Assets and liabilities measured at fair value are as follows as of December 31, 2020 (for purpose of this table the impaired loans are shown net of the related allowance): December 31, 2020 Quoted market price in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) (On a recurring basis) Available for sale investments U.S. Government Agencies $ - $ 14,107 $ - Taxable municipals - 5,345 - Corporate bonds - 6,048 - Mortgage-backed securities - 22,906 - (On a non-recurring basis) Other real estate owned - - 3,334 Impaired loans - - 4,030 Total $ - $ 48,406 $ 7,364 |
Schedule of significant unobservable inputs Level 3 assets | Schedule of significant unobservable inputs Level 3 assets (Dollars in thousands) Fair Value at June 30, 2021 Fair Value at December 31, 2020 Valuation Technique Significant Unobservable Inputs General Range of Significant Unobservable Input Values Impaired Loans $ 3,442 $ 4,030 Appraised Value/Discounted Cash Flows/Market Value of Note Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0 18 Other Real Estate Owned $ 2,269 $ 3,334 Appraised Value/Comparable Sales/Other Estimates from Independent Sources Discounts to reflect current market conditions and estimated costs to sell 0 18 |
Schedule fair value financial instruments | Schedule fair value financial instruments Fair Value Measurements (Dollars are in thousands) Carrying Amount Fair Value Quoted market price in active markets Significant other observable inputs Significant unobservable inputs June 30, 2021 Financial Instruments – Assets Net Loans $ 585,218 $ 580,931 $ - $ 577,489 $ 3,442 Financial Instruments – Liabilities Time Deposits 212,436 215,240 - 215,240 - Borrowed funds 16,496 14,358 - 14,358 - December 31, 2020 Financial Instruments – Assets Net Loans $ 568,375 $ 564,664 $ - $ 560,634 $ 4,030 Financial Instruments – Liabilities Time Deposits 234,449 237,768 - 237,768 - Borrowed funds 21,496 16,788 - 16,788 - |
LEASING ACTIVITIES (Tables)
LEASING ACTIVITIES (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Schedule Of non-cancellable operating lease | Schedule Of non-cancellable operating lease 2021 $ 255 2022 530 2023 544 2024 546 2025 550 Thereafter 3,978 Total lease payments 6,403 Less imputed interest 1,155 Total $ 5,248 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Redeemable Noncontrolling Interest | Schedule of Redeemable Noncontrolling Interest For the three months ended For the six months ended June 30, June 30, (Dollars in thousands) 2021 2020 2021 2020 Service charges and fees $ 841 $ 528 $ 1,673 $ 1,379 Card Processing and interchange income 1,072 835 1,936 1,588 Net gain on sale of securities available-for- sale (1) - - - 4 Insurance and investment fees 275 109 501 241 Other noninterest income 190 156 397 585 Total Noninterest Income $ 2,378 $ 1,628 $ 4,507 $ 3,797 |
NONINTEREST EXPENSES (Tables)
NONINTEREST EXPENSES (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Noninterest Expenses | |
Schedule of noninterest expenses | Schedule of noninterest expenses For the three months ended June 30, For the six months ended June 30, (Dollars are in thousands) 2021 2020 2021 2020 Advertising $ 73 $ 59 $ 108 $ 124 ATM network expense 403 364 745 756 Legal, accounting and professional fees 303 256 588 490 Consulting fees 93 38 148 361 Loan related expenses 143 80 250 187 Printing and supplies 24 30 60 67 FDIC insurance premiums 67 101 137 194 Other real estate owned expenses, net 41 133 138 196 Other operating expenses 641 506 1,135 1,209 Total other operating expenses $ 1,788 $ 1,567 $ 3,309 $ 3,584 |
INCOME PER SHARE (Details)
INCOME PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Per Share | ||||||
Net income | $ 1,663 | $ 1,585 | $ 29 | $ 46 | $ 3,248 | $ 75 |
Weighted average shares outstanding | 23,922,086 | 23,922,086 | 23,922,086 | 23,922,086 | ||
Weighted average dilutive shares outstanding | 23,922,086 | 23,922,086 | 23,922,086 | 23,922,086 | ||
Basic and diluted income per share | $ 0.07 | $ 0 | $ 0.14 | $ 0 |
CAPITAL (Details)
CAPITAL (Details) $ in Thousands | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Total Capital to Risk Weighted Assets, Actual, Amount | $ 80,710 | $ 77,133 |
Total Capital to Risk Weighted Assets, Actual, Ratio | 0.1608 | 0.1641 |
Total Capital to Risk Weighted Assets, Minimum Capital Requirement, Amount | $ 40,165 | $ 37,603 |
Total Capital to Risk Weighted Assets, Minimum Capital Requirement, Ratio | 0.080 | 0.080 |
Total Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 50,207 | $ 47,028 |
Total Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 0.100 | 0.100 |
Tier 1 Capital Risk Weighted Assets, Actual, Amount | $ 74,429 | $ 71,241 |
Tier 1 Capital Risk Weighted Assets, Actual, Ratio | 0.1482 | 0.1516 |
Tier 1 Capital Risk Weighted Assets, Minimum Capital Requirement, Amount | $ 30,124 | $ 28,202 |
Tier 1 Capital Risk Weighted Assets, Minimum Capital Requirement, Ratio | 0.060 | 0.060 |
Tier 1 Capital Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 40,165 | $ 37,603 |
Tier 1 Capital Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 0.080 | 0.080 |
Tier 1 Capital to Average Assets, Actual, Amount | $ 74,429 | $ 71,241 |
Tier 1 Capital to Average Assets, Actual, Ratio | 0.0919 | 0.0949 |
Tier 1 Capital to Average Assets, Minimum Capital Requirement, Amount | $ 32,386 | $ 30,036 |
Tier 1 Capital to Average Assets, Minimum Capital Requirement, Ratio | 0.040 | 0.040 |
Tier 1 Capital to Average Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 40,483 | $ 37,545 |
Tier 1 Capital to Average Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 0.050 | 0.050 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Actual, Amount | $ 74,429 | $ 71,241 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Actual, Ratio | 0.1482 | 0.1516 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum Capital Requirement, Amount | $ 22,593 | $ 21,152 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum Capital Requirement, Ratio | 0.045 | 0.045 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 32,634 | $ 30,552 |
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 0.065 | 0.065 |
INVESTMENT SECURITIES (Details)
INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | $ 95,676 | $ 47,467 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 1,004 | 1,084 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 649 | 145 |
Available-for-sale Securities | 96,031 | 48,406 |
US Government Agencies Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 13,712 | 13,852 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 299 | 322 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 57 | 67 |
Available-for-sale Securities | 13,954 | 14,107 |
Taxable Municipal Notes [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 20,305 | 5,157 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 247 | 188 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 56 | |
Available-for-sale Securities | 20,496 | 5,345 |
Corporate Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 4,037 | 5,893 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 147 | 186 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 31 | |
Available-for-sale Securities | 4,184 | 6,048 |
Collateralized Mortgage Backed Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 57,622 | 22,565 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 311 | 388 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 536 | 47 |
Available-for-sale Securities | $ 57,397 | $ 22,906 |
INVESTMENT SECURITIES (Details
INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 48,855 | $ 10,215 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 607 | 87 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,238 | 4,047 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 42 | 58 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 52,093 | 14,262 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 649 | 145 |
US Government Agencies Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 966 | 1,479 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 18 | 12 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,080 | 3,829 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 39 | 55 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,046 | 5,308 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 57 | 67 |
Taxable Municipal Notes [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,532 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 56 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 4,532 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 56 | |
Corporate Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 500 | 1,219 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 31 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 500 | 1,219 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 31 | |
Collateralized Mortgage Backed Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 42,857 | 7,517 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 533 | 44 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 158 | 218 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 43,015 | 7,735 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 536 | $ 47 |
INVESTMENT SECURITIES (Detail_2
INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Investment securities activity | ||
Proceeds | $ 1,025 | |
Gains | 7 | |
Losses | (3) | |
Tax benefit | $ (1) |
INVESTMENT SECURITIES (Detail_3
INVESTMENT SECURITIES (Details 3) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Investment securities activity | ||
Due in one year or less, amortized cost | $ 2,521 | |
Due in one year or less, fair value | $ 2,555 | |
Weighted Average Yield One | 1.89% | |
Due after one year through five years, amortized cost | $ 4,622 | |
Due after one year through five years, fair value | $ 4,772 | |
Weighted Average Yield Two | 3.82% | |
Due after five years through ten years, amortized cost | $ 9,461 | |
Due after five years through ten years, fair value | $ 9,642 | |
Weighted Average Yield Three | 2.05% | |
Due after ten years, amortized cost | $ 79,072 | |
Due after ten years, fair value | $ 79,062 | |
Weighted Average Yield Four | 1.68% | |
Amortized cost, total | $ 95,676 | $ 47,467 |
Approximate fair value | $ 96,031 | $ 48,406 |
Weighted Average Yield Total | 1.82% |
INVESTMENT SECURITIES (Detail_4
INVESTMENT SECURITIES (Details Narrative) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Investment securities activity | ||
Investment securities | $ 7,300 | $ 6,800 |
Restricted from trading amount | $ 2,000 | $ 2,600 |
LOANS (Details)
LOANS (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | $ 591,914 | $ 575,566 |
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 481,660 | 462,329 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 85,171 | 86,010 |
Commercial Real Estate [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 197,054 | 179,381 |
Commercial Borrower [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 85,171 | 86,010 |
Commercial Borrower [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 27,447 | 25,031 |
Residential Real Estate [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 215,228 | 222,980 |
Multifamily [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 22,244 | 16,569 |
Farmland [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 19,687 | 18,368 |
Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 3,922 | 4,450 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | 19,312 | 20,632 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans and leases | $ 1,849 | $ 2,145 |
LOANS (Details 1)
LOANS (Details 1) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | $ 3,883 | $ 5,083 |
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | 3,892 | 5,548 |
Commercial Borrower [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | 9 | 12 |
Commercial Borrower [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | 853 | 2,225 |
Real Estate Investment [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | 52 | 57 |
Residential Real Estate [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | 2,893 | 2,700 |
Farmland [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | 85 | 101 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Nonaccrual | $ 453 |
LOANS (Details 2)
LOANS (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 3,667 | $ 3,667 | $ 5,082 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 4,539 | 4,539 | 5,926 | ||
Impaired Financing Receivable, Related Allowance | 225 | 225 | 1,052 | ||
Average Recorded Investment | 4,250 | $ 5,891 | 4,525 | $ 5,782 | |
Interest Income Recognized | 29 | 26 | 60 | 57 | |
Commercial Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | 84 | 98 | |||
Interest Income Recognized | 1 | ||||
Commercial Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 29 | 29 | 429 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 37 | 37 | 437 | ||
Impaired Financing Receivable, Related Allowance | 4 | 4 | 404 | ||
Average Recorded Investment | 30 | 160 | 163 | 202 | |
Interest Income Recognized | 1 | 1 | 1 | ||
Commercial Real Estate [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 142 | 142 | 385 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 180 | 180 | 386 | ||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | 319 | 2,308 | 341 | 2,344 | |
Interest Income Recognized | 1 | ||||
Commercial Real Estate [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 704 | 704 | 1,566 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 742 | 742 | 1,678 | ||
Impaired Financing Receivable, Related Allowance | 181 | 181 | 574 | ||
Average Recorded Investment | 1,070 | 502 | 1,235 | 455 | |
Interest Income Recognized | 3 | ||||
Real Estate Investment [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 81 | 81 | 99 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 360 | 360 | 376 | ||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | 85 | 86 | 89 | 81 | |
Interest Income Recognized | 5 | 5 | 9 | 9 | |
Real Estate Investment [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Residential Real Estate [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 1,923 | 1,923 | 1,662 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 2,222 | 2,222 | 1,898 | ||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | 1,912 | 1,880 | 1,828 | 1,674 | |
Interest Income Recognized | 15 | 18 | 29 | 31 | |
Residential Real Estate [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 226 | 226 | 337 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 255 | 255 | 365 | ||
Impaired Financing Receivable, Related Allowance | 40 | 40 | 72 | ||
Average Recorded Investment | 264 | 66 | 288 | 62 | |
Interest Income Recognized | |||||
Multifamily [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Multifamily [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Farmland [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 559 | 559 | 391 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 740 | 740 | 560 | ||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | 567 | 587 | 508 | 650 | |
Interest Income Recognized | 9 | 18 | 10 | ||
Farmland [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 208 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | 220 | ||||
Impaired Financing Receivable, Related Allowance | 2 | ||||
Average Recorded Investment | 214 | 69 | 214 | ||
Interest Income Recognized | 2 | 4 | |||
Agriculture [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Agriculture [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
Consumer Loan [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 3 | 3 | 5 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 3 | 3 | 6 | ||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | 3 | 4 | 4 | 2 | |
Interest Income Recognized | |||||
Consumer Loan [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
All Other Loans [Member] | Impaired Financing Receivables With No Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized | |||||
All Other Loans [Member] | Impaired Financing Receivables With Related Allowance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Average Recorded Investment | |||||
Interest Income Recognized |
LOANS (Details 3)
LOANS (Details 3) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | $ 4,056 | $ 7,242 |
Loans 60-89 Days Past Due | 765 | 638 |
Loans 90 or More Days Past Due | 786 | 690 |
Total Past Due Loans | 5,607 | 8,570 |
Current Loans | 586,307 | 566,996 |
Loans and Leases Receivable, Net of Deferred Income | 591,914 | 575,566 |
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 3,883 | 6,807 |
Loans 60-89 Days Past Due | 724 | 615 |
Loans 90 or More Days Past Due | 785 | 690 |
Total Past Due Loans | 5,392 | 8,112 |
Current Loans | 476,268 | 454,217 |
Loans and Leases Receivable, Net of Deferred Income | 481,660 | 462,329 |
Commercial Borrower [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 123 | 214 |
Loans 60-89 Days Past Due | 24 | |
Loans 90 or More Days Past Due | ||
Total Past Due Loans | 147 | 214 |
Current Loans | 85,024 | 85,796 |
Loans and Leases Receivable, Net of Deferred Income | 85,171 | 86,010 |
Commercial Borrower [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 1,720 | 969 |
Loans 60-89 Days Past Due | ||
Loans 90 or More Days Past Due | 383 | |
Total Past Due Loans | 2,103 | 969 |
Current Loans | 194,951 | 178,412 |
Loans and Leases Receivable, Net of Deferred Income | 27,447 | 25,031 |
Commercial Borrower [Member] | Real Estate Investment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Net of Deferred Income | 197,054 | 179,381 |
Real Estate Investment [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 40 | 64 |
Loans 60-89 Days Past Due | ||
Loans 90 or More Days Past Due | ||
Total Past Due Loans | 40 | 64 |
Current Loans | 27,407 | 24,967 |
Loans and Leases Receivable, Net of Deferred Income | 27,447 | 25,031 |
Residential Real Estate [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 2,123 | 5,717 |
Loans 60-89 Days Past Due | 724 | 615 |
Loans 90 or More Days Past Due | 402 | 690 |
Total Past Due Loans | 3,249 | 7,022 |
Current Loans | 211,979 | 215,958 |
Loans and Leases Receivable, Net of Deferred Income | 215,228 | 222,980 |
Multifamily [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | ||
Loans 60-89 Days Past Due | ||
Loans 90 or More Days Past Due | ||
Total Past Due Loans | ||
Current Loans | 22,244 | 16,569 |
Loans and Leases Receivable, Net of Deferred Income | 22,244 | 16,569 |
Farmland [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 57 | |
Loans 60-89 Days Past Due | ||
Loans 90 or More Days Past Due | ||
Total Past Due Loans | 57 | |
Current Loans | 19,687 | 18,311 |
Loans and Leases Receivable, Net of Deferred Income | 19,687 | 18,368 |
Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 7 | |
Loans 60-89 Days Past Due | 1 | |
Loans 90 or More Days Past Due | ||
Total Past Due Loans | 8 | |
Current Loans | 3,922 | 4,442 |
Loans and Leases Receivable, Net of Deferred Income | 3,922 | 4,450 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | 50 | 214 |
Loans 60-89 Days Past Due | 17 | 22 |
Loans 90 or More Days Past Due | 1 | |
Total Past Due Loans | 68 | 236 |
Current Loans | 19,244 | 20,396 |
Loans and Leases Receivable, Net of Deferred Income | 19,312 | 20,632 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans 30-59 Days Past Due | ||
Loans 60-89 Days Past Due | ||
Loans 90 or More Days Past Due | ||
Total Past Due Loans | ||
Current Loans | 1,849 | 2,145 |
Loans and Leases Receivable, Net of Deferred Income | $ 1,849 | $ 2,145 |
LOANS (Details 4)
LOANS (Details 4) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 591,914 | $ 575,566 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 575,035 | 555,544 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 12,986 | 14,614 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 3,893 | 5,408 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 481,660 | 462,329 |
Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 466,788 | 446,683 |
Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 10,989 | 10,703 |
Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 3,883 | 4,943 |
Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 85,171 | 86,010 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 83,362 | 81,846 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,809 | 3,711 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 453 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Commercial Portfolio Segment [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 197,054 | 179,381 |
Commercial Portfolio Segment [Member] | Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 186,824 | 171,212 |
Commercial Portfolio Segment [Member] | Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 9,377 | 6,112 |
Commercial Portfolio Segment [Member] | Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 853 | 2,057 |
Commercial Portfolio Segment [Member] | Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Real Estate Investment [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 27,447 | 25,031 |
Real Estate Investment [Member] | Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 27,281 | 23,168 |
Real Estate Investment [Member] | Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 114 | 1,806 |
Real Estate Investment [Member] | Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 52 | 57 |
Real Estate Investment [Member] | Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Residential Real Estate [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 215,228 | 222,980 |
Residential Real Estate [Member] | Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 211,779 | 218,947 |
Residential Real Estate [Member] | Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 556 | 1,304 |
Residential Real Estate [Member] | Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 2,893 | 2,729 |
Residential Real Estate [Member] | Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Multifamily [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 22,244 | 16,569 |
Multifamily [Member] | Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 22,016 | 16,337 |
Multifamily [Member] | Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 228 | 232 |
Multifamily [Member] | Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Multifamily [Member] | Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Farmland [Member] | Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 19,687 | 18,368 |
Farmland [Member] | Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 18,888 | 17,019 |
Farmland [Member] | Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 714 | 1,249 |
Farmland [Member] | Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 85 | 100 |
Farmland [Member] | Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 3,922 | 4,450 |
Agriculture [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 3,742 | 4,255 |
Agriculture [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 180 | 195 |
Agriculture [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Agriculture [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 19,312 | 20,632 |
Consumer Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 19,294 | 20,615 |
Consumer Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 8 | 5 |
Consumer Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 10 | 12 |
Consumer Loan [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,849 | 2,145 |
Other Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,849 | 2,145 |
Other Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Other Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | ||
Other Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable |
ALLOWANCE FOR LOAN LOSSES (Deta
ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 7,293 | $ 6,337 | $ 7,191 | $ 5,368 | |
Charge-offs | (934) | (339) | (1,045) | (449) | |
Recoveries | 151 | 27 | 178 | 106 | |
Provision | 186 | 550 | 372 | 1,550 | |
Ending balance | 6,696 | 6,575 | 6,696 | 6,575 | |
Individually evluated for impairment | 225 | 225 | $ 1,052 | ||
Collectively evaluated for impairment | 6,471 | 6,471 | 6,139 | ||
Total | 6,696 | 6,696 | 7,191 | ||
Individually evluated for impairment | 3,667 | 3,667 | 5,082 | ||
Collectively evaluated for impairment | 588,247 | 588,247 | 570,484 | ||
Loans receivable | 591,914 | 591,914 | 575,566 | ||
Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 481,660 | 481,660 | 462,329 | ||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 1,885 | 1,856 | 2,275 | 1,789 | |
Charge-offs | (311) | (92) | (324) | ||
Recoveries | 131 | 2 | 131 | 31 | |
Provision | (100) | 270 | (398) | 321 | |
Ending balance | 1,916 | 1,817 | 1,916 | 1,817 | |
Individually evluated for impairment | 4 | 4 | 404 | ||
Collectively evaluated for impairment | 1,912 | 1,912 | 1,871 | ||
Total | 1,916 | 1,916 | 2,275 | ||
Individually evluated for impairment | 29 | 29 | 429 | ||
Collectively evaluated for impairment | 85,142 | 85,142 | 85,581 | ||
Loans receivable | 85,171 | 85,171 | 86,010 | ||
Commercial Real Estate [Member] | Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 2,461 | 1,680 | 2,281 | 1,248 | |
Charge-offs | (915) | (915) | (22) | ||
Recoveries | 2 | 2 | |||
Provision | 605 | 374 | 783 | 826 | |
Ending balance | 2,151 | 2,054 | 2,151 | 2,054 | |
Individually evluated for impairment | 181 | 181 | 574 | ||
Collectively evaluated for impairment | 1,970 | 1,970 | 1,707 | ||
Total | 2,151 | 2,151 | 2,281 | ||
Individually evluated for impairment | 846 | 846 | 1,951 | ||
Collectively evaluated for impairment | 196,208 | 196,208 | 177,430 | ||
Loans receivable | 197,054 | 197,054 | 179,381 | ||
Real Estate Investment [Member] | Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 186 | 214 | 233 | 158 | |
Charge-offs | |||||
Recoveries | |||||
Provision | (31) | (45) | (78) | 11 | |
Ending balance | 155 | 169 | 155 | 169 | |
Individually evluated for impairment | |||||
Collectively evaluated for impairment | 155 | 155 | 233 | ||
Total | 155 | 155 | 233 | ||
Individually evluated for impairment | 81 | 81 | 99 | ||
Collectively evaluated for impairment | 27,366 | 27,366 | 24,932 | ||
Loans receivable | 27,447 | 27,447 | 25,031 | ||
Residential Real Estate [Member] | Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 2,283 | 2,077 | 1,951 | 1,736 | |
Charge-offs | (4) | (10) | |||
Recoveries | 9 | 9 | 17 | 17 | |
Provision | (242) | (47) | 88 | 286 | |
Ending balance | 2,046 | 2,039 | 2,046 | 2,039 | |
Individually evluated for impairment | 40 | 40 | 72 | ||
Collectively evaluated for impairment | 2,006 | 2,006 | 1,879 | ||
Total | 2,046 | 2,046 | 1,951 | ||
Individually evluated for impairment | 2,149 | 2,149 | 1,999 | ||
Collectively evaluated for impairment | 213,079 | 213,079 | 220,981 | ||
Loans receivable | 215,228 | 215,228 | 222,980 | ||
Multifamily [Member] | Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 165 | 132 | 151 | 104 | |
Charge-offs | |||||
Recoveries | |||||
Provision | (5) | 13 | 9 | 41 | |
Ending balance | 160 | 145 | 160 | 145 | |
Individually evluated for impairment | |||||
Collectively evaluated for impairment | 160 | 160 | 151 | ||
Total | 160 | 160 | 151 | ||
Individually evluated for impairment | |||||
Collectively evaluated for impairment | 22,244 | 22,244 | 16,569 | ||
Loans receivable | 22,244 | 22,244 | 16,569 | ||
Farmland [Member] | Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 156 | 146 | 97 | 109 | |
Charge-offs | (42) | ||||
Recoveries | 33 | ||||
Provision | (19) | (25) | 40 | 21 | |
Ending balance | 137 | 121 | 137 | 121 | |
Individually evluated for impairment | 2 | ||||
Collectively evaluated for impairment | 137 | 137 | 95 | ||
Total | 137 | 137 | 97 | ||
Individually evluated for impairment | 559 | 559 | 599 | ||
Collectively evaluated for impairment | 19,128 | 19,128 | 17,769 | ||
Loans receivable | 19,687 | 19,687 | 18,368 | ||
Agriculture [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 33 | 39 | 40 | 27 | |
Charge-offs | (15) | (15) | |||
Recoveries | 1 | 1 | 1 | ||
Provision | (6) | 25 | (13) | 36 | |
Ending balance | 28 | 49 | 28 | 49 | |
Individually evluated for impairment | |||||
Collectively evaluated for impairment | 28 | 28 | 40 | ||
Total | 28 | 28 | 40 | ||
Individually evluated for impairment | |||||
Collectively evaluated for impairment | 3,922 | 3,922 | 4,450 | ||
Loans receivable | 3,922 | 3,922 | 4,450 | ||
Consumer And All Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 124 | 193 | 163 | 195 | |
Charge-offs | (15) | (13) | (28) | (46) | |
Recoveries | 10 | 16 | 27 | 22 | |
Provision | (16) | (15) | (59) | 10 | |
Ending balance | 103 | 181 | 103 | 181 | |
Individually evluated for impairment | |||||
Collectively evaluated for impairment | 103 | 103 | 163 | ||
Total | 103 | 103 | 163 | ||
Individually evluated for impairment | 3 | 3 | 5 | ||
Collectively evaluated for impairment | 21,158 | 21,158 | 22,772 | ||
Loans receivable | 21,161 | 21,161 | 22,777 | ||
Unallocated Financing Receivables [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 2 | ||||
Charge-offs | |||||
Recoveries | |||||
Provision | (2) | ||||
Ending balance | |||||
Individually evluated for impairment | |||||
Collectively evaluated for impairment | |||||
Total | |||||
Individually evluated for impairment | |||||
Collectively evaluated for impairment | |||||
Loans receivable |
LOANS (Details Narrative)
LOANS (Details Narrative) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Receivables [Abstract] | |||
Mortgage loans | $ 0 | $ 389 | |
Loans description | Included in commercial loans at June 30, 2021 and December 31, 2020 were $32.7 million and $34.8 million of Paycheck Protection Program (PPP) loans, respectively, that are guaranteed by the Small Business Administration (SBA). Fees paid by SBA for round 1 PPP loans ranged from 1% to 5% of the amount borrowed, with 5% paid on loans up to $350 thousand, 3% on loans between $350 thousand and $2 million, and 1% on loans over $2 million. For round 2 PPP loans the fee structure was modified to the lesser of 50%, or $2.5 thousand for loans up to $50 thousand, 5% on loans ranging from $50 thousand to $350 thousand; 3% on loans between $350 thousand and $2 million and 1% on loans over $2 million. Included in total loans above are net deferred fees of $1.2 million and $456 thousand, including unearned PPP loans fees, at June 30, 2021 and December 31, 2020, respectively. Income from net deferred fees is recognized as income over the lives of the respective loans as a yield adjustment. If loans repay prior to scheduled maturities any unamortized fee or cost is recognized at that time. | ||
Interest income | $ 264 | $ 287 |
TROUBLED DEBT RESTRUCTURINGS (D
TROUBLED DEBT RESTRUCTURINGS (Details) Decimal in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021USD ($)Decimal | Jun. 30, 2020USD ($)Decimal | Jun. 30, 2021USD ($)Decimal | Jun. 30, 2020USD ($)Decimal | |
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | 31 | 31 | ||
Pre-Mod. Recorded Investment | $ 1,401 | $ 1,401 | ||
Post-Mod. Recorded Investment | $ 1,401 | $ 1,401 | ||
Agriculture [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | ||||
Pre-Mod. Recorded Investment | ||||
Post-Mod. Recorded Investment | ||||
Consumer Loan [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | 2 | 2 | ||
Pre-Mod. Recorded Investment | $ 7 | $ 7 | ||
Post-Mod. Recorded Investment | $ 7 | $ 7 | ||
Other Loans [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | ||||
Pre-Mod. Recorded Investment | ||||
Post-Mod. Recorded Investment | ||||
Real Estate [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | 29 | 29 | ||
Pre-Mod. Recorded Investment | $ 1,394 | $ 1,394 | ||
Post-Mod. Recorded Investment | $ 1,394 | $ 1,394 | ||
Real Estate [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | 3 | 3 | ||
Pre-Mod. Recorded Investment | $ 190 | $ 190 | ||
Post-Mod. Recorded Investment | $ 190 | $ 190 | ||
Real Estate [Member] | Real Estate Investment [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | ||||
Pre-Mod. Recorded Investment | ||||
Post-Mod. Recorded Investment | ||||
Real Estate [Member] | Residential Real Estate [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | 26 | 26 | ||
Pre-Mod. Recorded Investment | $ 1,204 | $ 1,204 | ||
Post-Mod. Recorded Investment | $ 1,204 | $ 1,204 | ||
Real Estate [Member] | Multifamily [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | ||||
Pre-Mod. Recorded Investment | ||||
Post-Mod. Recorded Investment | ||||
Real Estate [Member] | Farmland [Member] | ||||
Financing Receivable, Credit Ratio [Line Items] | ||||
# of Loans | Decimal | ||||
Pre-Mod. Recorded Investment | ||||
Post-Mod. Recorded Investment |
TROUBLED DEBT RESTRUCTURINGS _2
TROUBLED DEBT RESTRUCTURINGS (Details Narrative) $ in Thousands | 3 Months Ended |
Jun. 30, 2021USD ($) | |
Troubled Debt Restructurings | |
Loans | $ 663 |
OTHER REAL ESTATE OWNED (Detail
OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Real Estate [Abstract] | ||
Balance, end of period | $ 3,334 | $ 3,393 |
Additions | 513 | 1,128 |
Proceeds from sales | (1,485) | (687) |
Loans made to finance sales | (428) | |
Adjustment of carrying value | (28) | (132) |
Losses gains from sales | (65) | 60 |
Balance, end of period | $ 2,269 | $ 3,334 |
FAIR VALUES (Details)
FAIR VALUES (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | ||
Impaired loans | ||
Total | ||
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 1 [Member] | Taxable Municipals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 1 [Member] | Corporate Bond Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | ||
Impaired loans | ||
Total | 96,031 | 48,406 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | 13,954 | 14,107 |
Fair Value, Inputs, Level 2 [Member] | Taxable Municipals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | 20,496 | 5,345 |
Fair Value, Inputs, Level 2 [Member] | Corporate Bond Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | 4,184 | 6,048 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | 57,397 | 22,906 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 2,269 | 3,334 |
Impaired loans | 3,442 | 4,030 |
Total | 5,711 | 7,364 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 3 [Member] | Taxable Municipals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 3 [Member] | Corporate Bond Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments | ||
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale investments |
FAIR VALUES (Details 1)
FAIR VALUES (Details 1) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 3,442 | $ 4,030 |
Valuation Technique | Appraised Value/Discounted Cash Flows/Market Value of Note | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
General Range of Significant Unobservable Input Parcentage | 0.00% | |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
General Range of Significant Unobservable Input Parcentage | 18.00% | |
Other Real Estate Owned [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 2,269 | $ 3,334 |
Valuation Technique | Appraised Value/Comparable Sales/Other Estimates from Independent Sources | |
Other Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
General Range of Significant Unobservable Input Parcentage | 0.00% | |
Other Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
General Range of Significant Unobservable Input Parcentage | 18.00% |
FAIR VALUES (Details 3)
FAIR VALUES (Details 3) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net Loans | $ 585,218 | $ 568,375 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net Loans | ||
Time deposits | ||
Borrowed funds | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net Loans | 577,489 | 560,634 |
Time deposits | 215,240 | 237,768 |
Borrowed funds | 14,358 | 16,788 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net Loans | 3,442 | 4,030 |
Time deposits | ||
Borrowed funds | ||
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net Loans | 585,218 | 568,375 |
Time deposits | 212,436 | 234,449 |
Borrowed funds | 16,496 | 21,496 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net Loans | 580,931 | 564,664 |
Time deposits | 215,240 | 237,768 |
Borrowed funds | $ 14,358 | $ 16,788 |
LEASING ACTIVITIES (Details)
LEASING ACTIVITIES (Details) $ in Thousands | Jun. 30, 2021USD ($) |
Leases [Abstract] | |
Operating Leases, Future Minimum Payments, Next Rolling Twelve Months | $ 255 |
2022 | 530 |
2023 | 544 |
2024 | 546 |
2025 | 550 |
Thereafter | 3,978 |
Total | 6,403 |
Less imputed interest | 1,155 |
Total | $ 5,248 |
LEASING ACTIVITIES (Details Nar
LEASING ACTIVITIES (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Leases [Abstract] | ||
Weighted average remaining life | 11 years 4 months 20 days | |
Weighted average discount rate | $ 0.0316 | |
Operating lease expenses | $ 275 | $ 286 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Revenue from Contract with Customer [Abstract] | |||||
Service charges and fees | $ 841 | $ 528 | $ 1,673 | $ 1,379 | |
Card Processing and interchange income | 1,072 | 835 | 1,936 | 1,588 | |
[custom:SaleAndLeasebackTransactionGainLosNet] | [1] | 4 | |||
Insurance and investment fees | 275 | 109 | 501 | 241 | |
Other noninterest income | 190 | 156 | 397 | 585 | |
Total Noninterest Income | $ 2,378 | $ 1,628 | $ 4,507 | $ 3,797 | |
[1] | Not within the scope of ASU 2014-09 |
NONINTEREST EXPENSES (Details)
NONINTEREST EXPENSES (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Noninterest Expenses | ||||
Advertising | $ 73 | $ 59 | $ 108 | $ 124 |
ATM network expense | 403 | 364 | 745 | 756 |
Legal, accounting and professional fees | 303 | 256 | 588 | 490 |
Consulting fees | 93 | 38 | 148 | 361 |
Loan related expenses | 143 | 80 | 250 | 187 |
Printing and supplies | 24 | 30 | 60 | 67 |
FDIC insurance premiums | 67 | 101 | 137 | 194 |
Other real estate owned expenses, net | 41 | 133 | 138 | 196 |
Other operating expenses | 641 | 506 | 1,135 | 1,209 |
Total other operating expenses | $ 1,788 | $ 1,567 | $ 3,309 | $ 3,584 |