Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2021 | May 06, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-33003 | |
Entity Registrant Name | CITIZENS COMMUNITY BANCORP, INC. | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 20-5120010 | |
Entity Address, Address Line One | 2174 EastRidge Center | |
Entity Address, City or Town | Eau Claire | |
Entity Address, State or Province | WI | |
Entity Address, Postal Zip Code | 54701 | |
City Area Code | 715 | |
Local Phone Number | 836-9994 | |
Title of 12(b) Security | Common Stock, $.01 par value per share | |
Trading Symbol | CZWI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 10,888,553 | |
Entity Central Index Key | 0001367859 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 196,039 | $ 119,440 |
Other interest bearing deposits | 2,016 | 3,752 |
Securities available for sale “AFS” | 185,160 | 144,233 |
Securities held to maturity "HTM" | 57,419 | 43,551 |
Equity securities with readily determinable fair value | 297 | 200 |
Other investments | 15,069 | 14,948 |
Loans receivable | 1,192,126 | 1,237,581 |
Allowance for loan losses | (16,860) | (17,043) |
Loans receivable, net | 1,175,266 | 1,220,538 |
Loans held for sale | 2,267 | 3,075 |
Mortgage servicing rights, net | 3,999 | 3,252 |
Office properties and equipment, net | 21,081 | 21,165 |
Accrued interest receivable | 5,464 | 5,652 |
Intangible assets | 5,095 | 5,494 |
Goodwill | 31,498 | 31,498 |
Foreclosed and repossessed assets, net | 85 | 197 |
Bank owned life insurance ("BOLI") | 23,837 | 23,684 |
Other assets | 7,702 | 8,416 |
TOTAL ASSETS | 1,732,294 | 1,649,095 |
Liabilities: | ||
Deposits | 1,380,202 | 1,295,256 |
Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) advances | 115,481 | 123,498 |
Other borrowings | 58,354 | 58,328 |
Other liabilities | 17,595 | 11,449 |
Total liabilities | 1,571,632 | 1,488,531 |
Stockholders’ Equity: | ||
Common stock—$0.01 par value, authorized 30,000,000; 10,893,872 and 11,056,349 shares issued and outstanding, respectively | 109 | 111 |
Additional paid-in capital | 125,005 | 126,704 |
Retained earnings | 35,783 | 32,809 |
Unearned deferred compensation | (1,239) | (550) |
Accumulated other comprehensive income | 1,004 | 1,490 |
Total stockholders’ equity | 160,662 | 160,564 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,732,294 | $ 1,649,095 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (USD per share) | $ 0.01 | $ 0.01 |
Common stock authorized (shares) | 30,000,000 | 30,000,000 |
Common stock issued (shares) | 10,893,872 | 11,056,349 |
Common stock outstanding (shares) | 10,893,872 | 11,056,349 |
Consolidated Statements of Oper
Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest and dividend income: | ||
Interest and fees on loans | $ 14,517 | $ 15,459 |
Interest on investments | 1,103 | 1,449 |
Total interest and dividend income | 15,620 | 16,908 |
Interest expense: | ||
Interest on deposits | 1,714 | 3,180 |
Interest on FHLB and FRB borrowed funds | 411 | 508 |
Interest on other borrowed funds | 731 | 549 |
Total interest expense | 2,856 | 4,237 |
Net interest income before provision for loan losses | 12,764 | 12,671 |
Provision for loan losses | 0 | 2,000 |
Net interest income after provision for loan losses | 12,764 | 10,671 |
Non-interest income: | ||
Service charges on deposit accounts | 398 | 560 |
Interchange income | 530 | 464 |
Loan servicing income | 893 | 685 |
Gain on sale of loans | 1,595 | 780 |
Loan fees and service charges | 278 | 477 |
Insurance commission income | 0 | 279 |
Net gains on investment securities | 235 | 73 |
Other | 247 | 285 |
Total non-interest income | 4,176 | 3,603 |
Non-interest expense: | ||
Compensation and related benefits | 5,596 | 5,435 |
Occupancy | 1,316 | 1,374 |
Data processing | 1,342 | 1,192 |
Amortization of intangible assets | 399 | 412 |
Mortgage servicing rights expense, net | (450) | 736 |
Advertising, marketing and public relations | 163 | 239 |
FDIC premium assessment | 165 | 68 |
Professional services | 521 | 604 |
Gain on repossessed assets, net | (117) | (68) |
Other | 554 | 739 |
Total non-interest expense | 9,489 | 10,731 |
Income before provision for income tax | 7,451 | 3,543 |
Provision for income taxes | 1,945 | 937 |
Net income attributable to common stockholders | $ 5,506 | $ 2,606 |
Per share information: | ||
Basic earnings (USD per share) | $ 0.50 | $ 0.23 |
Diluted earnings (USD per share) | 0.50 | 0.23 |
Cash dividends paid (USD per share) | $ 0.23 | $ 0.21 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | ||
Net income attributable to common stockholders | $ 5,506 | $ 2,606 |
Securities available for sale | ||
Net unrealized losses arising during period | (486) | (1,191) |
Reclassification adjustment for net gains included in net income, net of tax | 0 | 53 |
Other comprehensive loss | (486) | (1,138) |
Comprehensive income | $ 5,020 | $ 1,468 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Retained Earnings | Unearned Deferred Compensation | Accumulated Other Comprehensive Income (loss) |
Balance at beginning of period (shares) at Dec. 31, 2019 | 11,266,954 | |||||
Balance at beginning of period at Dec. 31, 2019 | $ 150,553 | $ 113 | $ 128,856 | $ 22,517 | $ (462) | $ (471) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 2,606 | 2,606 | ||||
Other comprehensive loss, net of tax | (1,138) | (1,138) | ||||
Surrender of restricted shares of common stock (shares) | (1,746) | |||||
Surrender of restricted shares of common stock | (21) | (21) | ||||
Restricted cmmon stock awarded under the equity incentive plan (shares) | 41,507 | |||||
Restricted common stock awarded under the equity incentive plan | 0 | 669 | (669) | |||
Common stock fractional share audit adjustment (shares) | (40) | |||||
Common stock repurchased (shares) | (155,666) | |||||
Common stock repurchased | (1,838) | $ (1) | (1,776) | (61) | ||
Stock option expense | 4 | 4 | ||||
Amortization of restricted stock | 139 | 139 | ||||
Cash dividends | (2,372) | (2,372) | ||||
Balance at end of period (shares) at Mar. 31, 2020 | 11,151,009 | |||||
Balance at end of period at Mar. 31, 2020 | 147,933 | $ 112 | 127,732 | 22,690 | (992) | (1,609) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 3,069 | 3,069 | ||||
Other comprehensive loss, net of tax | 1,628 | 1,628 | ||||
Surrender of restricted shares of common stock (shares) | (314) | |||||
Surrender of restricted shares of common stock | (2) | (2) | ||||
Stock option expense | 4 | 4 | ||||
Amortization of restricted stock | 158 | 158 | ||||
Balance at end of period (shares) at Jun. 30, 2020 | 11,150,695 | |||||
Balance at end of period at Jun. 30, 2020 | 152,790 | $ 112 | 127,734 | 25,759 | (834) | 19 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 3,480 | 3,480 | ||||
Other comprehensive loss, net of tax | 885 | 885 | ||||
Surrender of restricted shares of common stock (shares) | (50) | |||||
Surrender of restricted shares of common stock | 0 | |||||
Restricted cmmon stock awarded under the equity incentive plan (shares) | 4,000 | |||||
Restricted common stock awarded under the equity incentive plan | 0 | 41 | (41) | |||
Stock option expense | 3 | 3 | ||||
Amortization of restricted stock | 165 | 165 | ||||
Balance at end of period (shares) at Sep. 30, 2020 | 11,154,645 | |||||
Balance at end of period at Sep. 30, 2020 | 157,323 | $ 112 | 127,778 | 29,239 | (710) | 904 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 3,570 | 3,570 | ||||
Other comprehensive loss, net of tax | 586 | 586 | ||||
Unrealized performance-based restricted common stock awards | 0 | (92) | 92 | |||
Surrender of restricted shares of common stock (shares) | (531) | |||||
Surrender of restricted shares of common stock | (4) | (4) | ||||
Common stock repurchased (shares) | (97,765) | |||||
Common stock repurchased | (982) | $ (1) | (981) | |||
Stock option expense | 3 | 3 | ||||
Amortization of restricted stock | 68 | 68 | ||||
Balance at end of period (shares) at Dec. 31, 2020 | 11,056,349 | |||||
Balance at end of period at Dec. 31, 2020 | 160,564 | $ 111 | 126,704 | 32,809 | (550) | 1,490 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net Income | 5,506 | 5,506 | ||||
Other comprehensive loss, net of tax | (486) | (486) | ||||
Forfeiture of unvested shares (shares) | (1,500) | |||||
Forfeiture of unvested shares | 0 | (16) | 16 | |||
Surrender of restricted shares of common stock (shares) | (895) | |||||
Surrender of restricted shares of common stock | (10) | (10) | ||||
Restricted cmmon stock awarded under the equity incentive plan (shares) | 64,399 | |||||
Restricted common stock awarded under the equity incentive plan | 0 | 876 | (876) | |||
Common stock repurchased - canceled/retired (shares) | (224,481) | |||||
Common stock repurchased - canceled/retired | (2,575) | $ (2) | (2,552) | (21) | ||
Stock option expense | 3 | 3 | ||||
Amortization of restricted stock | 171 | 171 | ||||
Cash dividends | (2,511) | (2,511) | ||||
Balance at end of period (shares) at Mar. 31, 2021 | 10,893,872 | |||||
Balance at end of period at Mar. 31, 2021 | $ 160,662 | $ 109 | $ 125,005 | $ 35,783 | $ (1,239) | $ 1,004 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends declared (USD per share) | $ 0.23 | $ 0.21 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||||
Net income attributable to common stockholders | $ 5,506 | $ 3,570 | $ 3,069 | $ 2,606 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Premium amortization, net of discount accretion on investment securities | 23 | 111 | |||
Depreciation expense | 530 | 463 | |||
Provision for loan losses | 0 | 2,000 | |||
Net realized (gain) loss on equity securities | (235) | 83 | |||
Net realized gain on debt securities | 0 | (156) | |||
Increase in MSR assets resulting from transfers of financial assets | (297) | (182) | |||
Mortgage servicing rights expense, net | (450) | 736 | |||
Amortization of intangible assets | 399 | 412 | |||
Amortization of restricted stock | 171 | 139 | |||
Net stock based compensation expense | 3 | 4 | |||
Loss on sale of office properties and equipment | 6 | 0 | |||
Deferred income taxes | 765 | (150) | |||
Increase in cash surrender value of life insurance | (153) | (142) | |||
Net gain from disposals of foreclosed and repossessed assets | (117) | (68) | |||
Gain on sale of loans held for sale, net | (1,595) | (780) | |||
Net change in loans held for sale | 2,403 | 3,392 | |||
Decrease in accrued interest receivable and other assets | 322 | 1,131 | |||
Increase (decrease) in other liabilities | 6,248 | (340) | |||
Total adjustments | 8,023 | 6,653 | |||
Net cash provided by operating activities | 13,529 | 9,259 | |||
Cash flows from investing activities: | |||||
Net decrease in other interest-bearing deposits | 1,736 | 738 | |||
Purchase of available for sale securities | (50,956) | (9,985) | |||
Purchase of held to maturity securities | (16,530) | (8,063) | |||
Proceeds from principal payments and sale of available for sale securities | 9,368 | 25,149 | |||
Proceeds from principal payments and maturities of held to maturity securities | 2,629 | 142 | |||
Net purchases (sales) of other investments | 17 | 6 | |||
Proceeds from sales of foreclosed and repossessed assets | 312 | 997 | |||
Net decrease (increase) in loans | 45,189 | (4,957) | |||
Net capital expenditures | (462) | (423) | |||
Proceeds from disposal of office properties and equipment | 10 | 0 | |||
Net cash (used in) provided by investing activities | (8,687) | 3,604 | |||
Cash flows from financing activities: | |||||
Net decrease in short-term Federal Home Loan Bank advances | 0 | (64,994) | |||
Long-term Federal Home Loan Bank advances | 0 | 57,500 | |||
Federal Home Loan Bank advance termination payments | (8,119) | 0 | |||
Amortization of debt issuance costs | 26 | 16 | |||
Net increase (decrease) in deposits | 84,946 | (15,647) | |||
Repurchase shares of common stock | (2,575) | (1,838) | |||
Surrender of restricted shares of common stock | (10) | (21) | |||
Cash dividends paid | (2,511) | (2,372) | |||
Net cash provided by (used in) financing activities | 71,757 | (27,356) | |||
Net increase (decrease) in cash and cash equivalents | 76,599 | (14,493) | |||
Cash and cash equivalents at beginning of period | 119,440 | $ 41,347 | 55,840 | $ 55,840 | |
Cash and cash equivalents at end of period | 196,039 | $ 119,440 | 41,347 | $ 119,440 | |
Cash paid during the period for: | |||||
Interest on deposits | 1,658 | 3,238 | |||
Interest on borrowings | 1,391 | 1,029 | |||
Income taxes | 0 | 0 | |||
Supplemental noncash disclosure: | |||||
Transfers from loans receivable to other real estate owned ("OREO") | $ 45 | $ 879 |
NATURE OF BUSINESS AND SUMMARY
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements of Citizens Community Federal N.A. (the “Bank”) included herein have been included by its parent company, Citizens Community Bancorp, Inc. (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. As used in this quarterly report, the terms “we”, “us”, “our”, and “Citizens Community Bancorp, Inc.” mean the Company and its wholly owned subsidiary, the Bank, unless the context indicates other meaning. The Bank is a national banking association (a “National Bank”) and operates under the title of Citizens Community Federal National Association (“Citizens Community Federal N.A.” or “Bank” or “CCFBank”). The Company is a bank holding company, supervised by the Federal Reserve Bank of Minneapolis (the “FRB”), and operates under the title of Citizens Community Bancorp, Inc. Wells Insurance Agency (“WIA”) was a wholly owned subsidiary of the Bank, providing insurance products to the Bank’s customers and was sold on June 30, 2020. F&M Investment Corp. of Tomah was a wholly owned subsidiary of the Bank that was formerly utilized by F. & M. Bancorp. of Tomah, Inc. (“F & M”) to manage its municipal bond portfolio, and was dissolved in February 2020. The U.S. Office of the Comptroller of the Currency (the “OCC”), is the primary federal regulator for the Bank. The consolidated income of the Company is principally derived from the income of the Bank, the Company’s wholly owned subsidiary, serving customers in Wisconsin and Minnesota through 25 branch locations. Its primary markets include the Chippewa Valley Region in Wisconsin, the Mankato and Twin Cities markets in Minnesota, and various rural communities around these areas. The Bank offers traditional community banking services to businesses, agricultural operators and consumers, including one-to-four family residential mortgages. The Bank is subject to competition from other financial institutions and non-financial institutions providing financial products. Additionally, the Bank is subject to the regulations of certain regulatory agencies and undergoes periodic examination by those regulatory agencies. In preparing these consolidated financial statements, we evaluated the events and transactions that occurred subsequent to the March 31, 2021 balance sheet date and through the date the financial statements were available to be issued for items that should potentially be recognized or disclosed in these consolidated financial statements. The accompanying consolidated interim financial statements are unaudited. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Unless otherwise stated herein, and except for shares and per share amounts, all amounts are in thousands. Principles of Consolidation – The accompanying consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany accounts and transactions have been eliminated. Use of Estimates –Preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, fair value of financial instruments, the allowance for loan losses, mortgage servicing rights, foreclosed and repossessed assets, valuation of intangible assets arising from acquisitions, useful lives for depreciation and amortization, valuation of goodwill and long-lived assets, stock based compensation, deferred tax assets, uncertain income tax positions and contingencies. Management does not anticipate any material changes to estimates made herein in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: those items described under the caption “Risk Factors” in Item 1A of the annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 8, 2021; the matters described in “Risk Factors” in Item 1A of this Form 10-Q; external market factors such as market interest rates and unemployment rates; changes to operating policies and procedures and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period. Investment Securities; Held to Maturity and Available for Sale – Management determines the appropriate classification of investment securities at the time of purchase and reevaluates such designation as of the date of each balance sheet. Securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Held to maturity securities are stated at amortized cost. Investment securities not classified as held to maturity are classified as available for sale. Available for sale securities are stated at fair value, with unrealized holding gains and losses being reported in other comprehensive income (loss), net of tax. Unrealized losses deemed other-than-temporary due to credit issues are reported in the Company’s net income in the period in which the losses arise. Interest income includes amortization of purchase premium or accretion of purchase discount. Amortization of premiums and accretion of discounts are recognized in interest income using the interest method over the estimated lives of the securities. The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuer is assessed. Significant inputs used to measure the amount of other-than-temporary impairment related to credit loss include, but are not limited to: the Company’s intent and ability to sell the debt security prior to recovery, that it is more likely than not that the Company will not sell the security prior to recovery, default and delinquency rates of the underlying collateral, remaining credit support, and historical loss severities. Adjustments to market value of available for sale securities that are considered temporary are recorded in other comprehensive income or loss as separate components of stockholders’ equity, net of tax. If the unrealized loss of a security is identified as other-than-temporary based on information available, such as the decline in the creditworthiness of the issuer, external market ratings, or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if credit loss exists. If there is a credit loss, it will be recorded in the Company’s consolidated statement of operations. Non-credit components of the unrealized losses on available for sale securities will continue to be recognized in other comprehensive income (loss), net of tax. Equity securities with readily determinable fair value - The Company is required to maintain an investment in Federal Agricultural Mortgage Corporation (“Farmer Mac”) equity securities. Farmer Mac equity securities are carried at their fair market value, which is readily determinable. Changes in fair value are recognized as net gains (losses) on investment securities in the consolidated Statement of Operations. Other Investments - As a member of the Federal Reserve Bank (“FRB”) System and the Federal Home Loan Bank (“FHLB”) System, the Bank is required to maintain an investment in the capital stock of these entities. These securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other exchange traded equity securities. As no ready market exists for these stocks, and they have no quoted market value, these investments are carried at cost and periodically evaluated for impairment based on the ultimate recovery of par value. Cash dividends are reported as other income in the consolidated statement of operations. Also included in other investments is stock of our correspondent bank, Bankers’ Bank, without readily determinable fair value. This stock is carried at cost plus or minus changes resulting from observable price changes in orderly transactions for this stock, less other-than-temporary impairment charges, if any. Management’s evaluation for impairment of these other investments, includes consideration of the financial condition and other available relevant information of the issuer. Based on management’s quarterly evaluation, no impairment has been recorded on these securities. Other investments totaling $15,069 at March 31, 2021 consisted of $8,041 of FHLB stock, $5,181 of Federal Reserve Bank stock and $1,847 of Bankers’ Bank stock. Other investments totaling $14,948 at December 31, 2020 consisted of $8,103 of FHLB stock and $5,170 of Federal Reserve Bank stock and $1,675 of Bankers’ Bank stock. Loans – Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of: deferred loan fees and costs, accretable yield on acquired loans and non-accretable discount on purchased credit impaired (PCI) loans. Interest income is accrued on the unpaid principal balance of these loans. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the interest method with no prepayment assumptions. Late charge fees are recognized into income when collected. Interest income on commercial, mortgage and consumer loans is discontinued according to the following schedules: • Commercial/agricultural real estate loans past due 90 days or more; • Commercial and industrial/agricultural operating loans past due 90 days or more; • Closed end consumer installment loans past due 120 days or more; and • Residential mortgage loans and open ended consumer installment loans past due 180 days or more. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual status or charged off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash basis or cost recovery method until qualifying for return to accrual status. Loans are returned to accrual status when payments are made that bring the loan account current with the contractual term of the loan and a six month payment history has been established. Interest on accruing troubled debt restructured (“TDR”), less than 90 days delinquent, is recognized as income as it accrues, based on the revised terms of the loan over an established period of continued payment. Residential mortgage loans and open ended consumer installment loans are charged off to estimated net realizable value less estimated selling costs at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 180 days or more. Closed ended consumer installment loans are charged off to net realizable value at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 120 days or more. Commercial/agricultural real estate, commercial and industrial and agricultural operating loans are charged off to net realizable value at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 90 days or more. Allowance for Loan Losses – The allowance for loan losses (“ALL”) is a valuation allowance for probable and inherent credit losses in our loan portfolio. Loan losses are charged against the ALL when management believes that the collectability of a loan balance is unlikely. Subsequent recoveries, if any, are credited to the ALL. Management estimates the required ALL balance taking into account the following factors: past loan loss experience; the nature, volume and composition of our loan portfolio; known and inherent risks in our portfolio; information about specific borrowers’ ability to repay; estimated collateral values; current economic conditions; and other relevant factors determined by management. The ALL consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for certain qualitative factors. The entire ALL balance is available for any loan that, in management’s judgment, should be charged off. A loan is impaired when full payment under the loan terms is not expected. Impaired loans consist of all TDRs, as well as individual loans not considered a TDR, that are either (1) rated substandard or worse, (2) on nonaccrual status or (3) PCI loans which are impaired at the time of acquisition. Substandard loans, as defined by the OCC, our primary banking regulator, are loans that are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. All TDRs are individually evaluated for impairment. See Note 3, “Loans, Allowance for Loan Losses and Impaired Loans” for more information on what we consider to be a TDR. For TDR’s or substandard loans deemed to be impaired, a specific ALL allocation may be established so that the loan is reported, net, at the lower of (a) its outstanding principal balance; (b) the present value of the loan’s estimated future cash flows using the loan’s existing rate; or (c) at the fair value of any loan collateral, less estimated disposal costs, if repayment is expected solely from the underlying collateral of the loan. For TDRs less than 90+ days past due, and certain substandard loans that are less than 90+ days delinquent, the likelihood of the loan migrating to over 90 days past due is also taken into account when determining the specific ALL allocation for these particular loans. Large groups of smaller balance homogeneous loans, such as non-TDR commercial, consumer and residential real estate loans, are collectively evaluated for ALL purposes, and accordingly, are not separately identified for ALL disclosures. Acquired Loans— Loans acquired in connection with acquisitions are recorded at their acquisition-date fair value with no carryover of related allowance for loan losses. Any allowance for loan loss on these pools reflect only losses incurred after the acquisition (meaning the present value of all cash flows expected at acquisition that no longer are expected to be received). Determining the fair value of the acquired loans involves estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. Management considers a number of factors in evaluating the acquisition-date fair value including: the remaining life of the acquired loans, delinquency status, estimated prepayments, payment options and other loan features, internal risk grade, estimated value of the underlying collateral and interest rate environment. Acquired loans that met the criteria for nonaccrual of interest prior to the acquisition may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of the expected cash flows on such loans and if we expect to fully collect the new carrying value of the loans. As such, we may no longer consider the loan to be nonaccrual or nonperforming and may accrue interest on these loans, including the impact of any accretable yield. Loans acquired with deteriorated credit quality are accounted for in accordance with Accounting Standards Codification (“ASC”) 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (ASC 310-30) if, at acquisition, the loans have evidence of credit quality deterioration since origination and it is probable that all contractually required payments will not be collected. At acquisition, the Company considers several factors as indicators that an acquired loan has evidence of deterioration in credit quality. These factors include, but are not limited to: loans 90 days or more past due, loans with an internal risk grade of substandard or below, loans classified as non-accrual by the acquired institution, and loans that have been previously modified in a troubled debt restructuring. Under the ASC 310-30 model, the excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield and is the interest component of expected cash flow. The accretable discount is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion method). If the timing or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition is used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which the Company does not expect to collect. Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable discount to be subsequently recognized in interest income on a prospective basis over the loan’s remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, Nonrefundable Fees and Other Costs (ASC 310-20), whereby the premium or discount derived from the fair market value adjustment, on a loan-by-loan or pooled basis, is recognized into interest income on a level yield basis over the remaining expected life of the loan or pool. For all acquired loans, the outstanding loan balances less any related accretable discount and/or non-accretable difference is referred to as the loans’ carrying amount. Loans Held for Sale — Loans held for sale are those loans the Company has the intent to sell in the foreseeable future. They are carried at the lower of aggregate cost or fair value. Gains and losses on sales of loans are recognized at settlement dates, and are determined by the difference between the sales proceeds and the carrying value of the loans after allocating costs to servicing rights retained. Such gains and losses are included in non-interest income in the consolidated statements of operations. All sales are made without recourse. Interest rate lock commitments on mortgage loans to be funded and sold are valued at fair value, and are included in other assets or liabilities, if material. Transfers of financial assets— Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the entity, (2) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets, and (3) the entity does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. Mortgage Servicing Rights— Mortgage servicing rights (“MSR”) assets result as the Company sells loans to investors in the secondary market and retains the rights to service mortgage loans sold to others. MSR assets are initially measured at fair value; assessed for impairment at least annually; carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value. MSR assets are amortized in proportion to and over the period of estimated net servicing income, with the amortization recorded in non-interest expense in the consolidated statement of operations. The valuation of MSRs and related amortization, included in mortgage servicing rights expense in the consolidated statements of operations, thereon are based on numerous factors, assumptions and judgments, such as those for: changes in the mix of loans, interest rates, prepayment speeds, and default rates. Changes in these factors, assumptions and judgments may have a material effect on the valuation and amortization of MSRs. Although management believes that the assumptions used to evaluate the MSRs for impairment are reasonable, future adjustment may be necessary if future economic conditions differ substantially from the economic assumptions used to determine the value of MSRs. Servicing fee income, which is reported on the consolidated statements of operations in non-interest income as Loan servicing fee income, is recorded for fees earned for servicing loans. The fee are based on a contractual percentage of outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Goodwill and other intangible assets— The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, “Intangibles - Goodwill and Other.” The Company records the excess of the cost of acquired entities over the fair value of identifiable tangible and intangible assets acquired, less liabilities assumed, as goodwill. On a periodic basis, management assesses whether events or changes in circumstances indicate that the carrying amounts of the intangible assets may be impaired. Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. A reporting unit is defined as any distinct, separately identifiable component of the Company’s one operating segment for which complete, discrete financial information is available and reviewed regularly by the segment’s management. The Company has one reporting unit as of March 31, 2021 which is related to its banking activities. The impairment testing process is conducted by assigning net assets and goodwill to the Company’s reporting unit. An initial qualitative evaluation is made to assess the likelihood of impairment and determine whether further quantitative testing to calculate the fair value is necessary. When the qualitative evaluation indicates that impairment is more likely than not, quantitative testing is required whereby the fair value of the Company’s reporting unit is calculated and compared to the recorded book value, “step one.” If the calculated fair value of the Company’s reporting unit exceeds its carrying value, goodwill is not considered impaired and “step two” is not considered necessary. If the carrying value of the company’s reporting unit exceeds its calculated fair value, the impairment test continues (“step two”) by comparing the carrying value of the Company’s reporting unit’s goodwill to the implied fair value of goodwill. An impairment charge is recognized if the carrying value of goodwill exceeds the implied fair value of goodwill. The Company has performed the required goodwill impairment test and has determined that goodwill was not impaired as of December 31, 2020. The Company performed a goodwill impairment analysis as of March 31, 2021 and determined that goodwill was not impaired. Foreclosed and Repossessed Assets, net – Assets acquired through foreclosure or repossession are initially recorded at fair value, less estimated costs to sell, which establishes a new cost basis. If the fair value declines subsequent to foreclosure or repossession, a write-down is recorded through expense. Costs incurred after acquisition are expensed and are included in non-interest expense, other in the consolidated statements of operations. Leases - We determine if an arrangement is a lease at inception. All of our existing leases have been determined to be operating leases under ASC 842. Right-of-use (“ROU”) assets are included in other assets in our consolidated balance sheets. Operating lease liabilities are included in other liabilities in our consolidated balance sheets. Lease expense is included in non-interest expense, occupancy in the consolidated statements of operations. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date, based on the present value of lease payments over the lease term. As none of our existing leases provide an implicit rate, we use our incremental borrowing rate, based on information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease, when it is reasonably certain that we will exercise that option. Lease expense is recognized based on the total contractually required lease payments, over the term of the lease, on a straight-line basis. Debt and equity issuance costs— Debt issuance costs, which consist primarily of fees paid to note lenders, are deferred and included in other borrowings in the consolidated balance sheet. Debt issuance costs are amortized over the contractual term of the corresponding debt, as a component of interest expense on other borrowed funds in the consolidated statement of operations. Specific costs associated with the issuance of shares of the Company’s common or preferred stock are netted against proceeds and recorded in stockholders’ equity, as additional paid in capital, on the consolidated balance sheet, in the period of the share issuance. Advertising, Marketing and Public Relations Expense— The Company expenses all advertising, marketing and public relations costs as they are incurred. Income Taxes – The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes.” Under this guidance, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates that will apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company regularly reviews the carrying amount of its net deferred tax assets to determine if the establishment of a valuation allowance is necessary. If based on the available evidence, it is more likely than not that all or a portion of the Company’s net deferred tax assets will not be realized in future periods, a deferred tax valuation allowance would be established. Consideration is given to various positive and negative factors that could affect the realization of the deferred tax assets. In evaluating this available evidence, management considers, among other things, historical performance, expectations of future earnings, the ability to carry back losses to recoup taxes previously paid, the length of statutory carry forward periods, any experience with utilization of operating loss and tax credit carry forwards not expiring, tax planning strategies and timing of reversals of temporary differences. Significant judgment is required in assessing future earnings trends and the timing of reversals of temporary differences. Accordingly, the Company’s evaluation is based on current tax laws as well as management’s expectations of future performance. Revenue Recognition - The Company recognizes revenue in the consolidated statements of operations as it is earned and when collectability is reasonably assured. The primary source of revenue is interest income from interest earning assets, which is recognized on the accrual basis of accounting using the effective interest method. The recognition of revenues from interest earning assets is based upon formulas from underlying loan agreements, securities contracts or other similar contracts. Non-interest income is recognized on the accrual basis of accounting as services are provided or as transactions occur. Non-interest income includes fees from deposit accounts, ATM and debit card fees, mortgage banking activities, and other miscellaneous services and transactions. Commission revenue is recognized as of the effective date of the insurance policy or the date the customer is billed, whichever is later. The Company also receives contingent commissions from insurance companies which are based on the overall profitability of their relationship based primarily on the loss experience of the insurance placed by the Company. Contingent commissions from insurance companies are recognized when determinable. Commission revenue is included in other non-interest income in the consolidated statement of operations. Earnings Per Share – Basic earnings per common share is net income or loss divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable during the period, consisting of stock options outstanding under the Company’s stock incentive plans that have an exercise price that is less than the Company’s stock price on the reporting date. Loss Contingencies— Loss contingencies, including claims and legal actions arising in the normal course of business, are recorded as liabilities when the likelihood of loss is probable and an amount of loss can be reasonably estimated. Other Comprehensive Income — Accumulated and other comprehensive income or loss is comprised of the unrealized and realized gains and losses on securities available for sale and pension liability adjustments, net of tax, and is shown on the accompanying consolidated statements of other comprehensive income. Operating Segments— While our executive officers monitor the revenue streams of the various banking products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment. Reclassifications – Certain items previously reported were reclassified for consistency with the current presentation. Recent Accounting Pronouncements— The Financial Accounting Standards Board (FASB) issues Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). This section provides a summary description of recent ASUs that have potentially significant implications (elected or required) within the consolidated financial statements, or that management expects may have a significant impact on financial statements issued in the near future. Recent Accounting Pronouncements—Adopted ASU 2018-13, Fair Value Measurement (Topic 820)— The ASU modifies disclosure requirements on fair value measurements. This ASU removes requirements to disclose, (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and (2) the poli |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 3 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
INVESTMENT SECURITIES | INVESTMENT SECURITIES The amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale and held to maturity as of March 31, 2021 and December 31, 2020, respectively, were as follows: Available for sale securities Amortized Gross Gross Estimated March 31, 2021 U.S. government agency obligations $ 31,474 $ 303 $ 65 $ 31,712 Obligations of states and political subdivisions 140 — — 140 Mortgage-backed securities 71,448 1,009 401 72,056 Corporate debt securities 27,752 446 285 27,913 Corporate asset-based securities 35,664 159 114 35,709 Trust preferred securities 17,298 342 10 17,630 Total available for sale securities $ 183,776 $ 2,259 $ 875 $ 185,160 December 31, 2020 U.S. government agency obligations $ 33,048 $ 387 $ 70 $ 33,365 Obligations of states and political subdivisions 140 — — 140 Mortgage-backed securities 39,454 1,537 — 40,991 Corporate debt securities 17,199 372 109 17,462 Corporate asset-based securities 36,039 104 316 35,827 Trust preferred securities 16,297 189 38 16,448 Total available for sale securities $ 142,177 $ 2,589 $ 533 $ 144,233 Held to maturity securities Amortized Gross Gross Estimated March 31, 2021 U.S. government agency obligations $ 3,500 $ — $ 17 $ 3,483 Obligations of states and political subdivisions 4,600 2 9 4,593 Mortgage-backed securities 49,319 200 1,809 47,710 Total held to maturity securities $ 57,419 $ 202 $ 1,835 $ 55,786 December 31, 2020 Obligations of states and political subdivisions $ 600 $ 2 $ — $ 602 Mortgage-backed securities 42,951 265 34 43,182 Total held to maturity securities $ 43,551 $ 267 $ 34 $ 43,784 As of March 31, 2021, the Bank has pledged U.S. Government Agency securities with a carrying value of $548 and mortgage-backed securities with a carrying value of $2,655 as collateral against specific municipal deposits. At March 31, 2021, the Bank has pledged mortgage-backed securities with a carrying value of $1,121 as collateral against a borrowing line of credit with the Federal Reserve Bank. However, as of March 31, 2021, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of March 31, 2021, the Bank also has mortgage-backed securities with a carrying value of $402 pledged as collateral to the Federal Home Loan Bank of Des Moines. At December 31, 2020, the Bank has pledged certain of its mortgage-backed securities with a carrying value of $1,209 as collateral to secure a line of credit with the Federal Reserve Bank. As of December 31, 2020, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of December 31, 2020, the Bank has pledged certain of its U.S. Government Agency securities with a carrying value of $576 and mortgage-backed securities with a carrying value of $3,028 as collateral against specific municipal deposits. As of December 31, 2020, the Bank also has mortgage-backed securities with a carrying value of $468 pledged as collateral to the Federal Home Loan Bank of Des Moines. For the three month period ended March 31, 2020 gross sales of available for sale securities were $10,841. There were no sales of available for sale securities for the three month period ended March 31, 2021. Gross gains on sale of available for sale securities for the three months ended March 31, 2020 were $157. Gross losses on sale of available for sale securities for the three months ended March 31, 2020 were $1. The estimated fair value of securities at March 31, 2021 and December 31, 2020, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities on mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Expected maturities may differ from contractual maturities on certain agency and municipal securities due to the call feature. March 31, 2021 December 31, 2020 Available for sale securities Amortized Estimated Amortized Estimated Due in one year or less $ 140 $ 140 $ — $ — Due after one year through five years 4,949 5,207 3,833 4,095 Due after five years through ten years 47,962 48,488 44,405 44,880 Due after ten years 59,277 59,269 54,485 54,267 Total securities with contractual maturities $ 112,328 $ 113,104 $ 102,723 $ 103,242 Mortgage backed securities 71,448 72,056 39,454 40,991 Total available for sale securities $ 183,776 $ 185,160 $ 142,177 $ 144,233 March 31, 2021 December 31, 2020 Held to maturity securities Amortized Estimated Amortized Estimated Due in one year or less $ — $ — $ — $ — Due after one year through five years 4,300 4,300 200 200 Due after five years through ten years 3,800 3,776 400 402 Total securities with contractual maturities 8,100 8,076 600 602 Mortgage backed securities 49,319 47,710 42,951 43,182 Total held to maturity securities $ 57,419 $ 55,786 $ 43,551 $ 43,784 Securities with unrealized losses at March 31, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: Less than 12 Months 12 Months or More Total Available for sale securities Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2021 U.S. government agency obligations $ — $ — $ 13,088 $ 65 $ 13,088 $ 65 Mortgage backed securities 39,035 401 — — 39,035 401 Corporate debt securities 9,335 203 1,418 82 10,753 285 Corporate asset-based securities 5,947 19 11,829 95 17,776 114 Trust preferred securities 945 10 — — 945 10 Total $ 55,262 $ 633 $ 26,335 $ 242 $ 81,597 $ 875 December 31, 2020 U.S. government agency obligations $ 7,654 $ 17 $ 6,834 $ 53 $ 14,488 $ 70 Corporate debt securities 3,447 27 1,418 82 4,865 109 Corporate asset-based securities — — 24,310 316 24,310 316 Trust preferred securities 5,612 38 — — 5,612 38 Total $ 16,713 $ 82 $ 32,562 $ 451 $ 49,275 $ 533 Less than 12 Months 12 Months or More Total Held to maturity securities Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2021 U.S. government agency obligations $ 3,483 $ 17 $ — $ — $ 3,483 $ 17 Obligations of states and political subdivisions 500 9 — — 500 9 Mortgage-backed securities 42,342 1,809 — — 42,342 1,809 Total $ 46,325 $ 1,835 $ — $ — $ 46,325 $ 1,835 December 31, 2020 Mortgage-backed securities $ 16,538 $ 34 $ — $ — $ 16,538 $ 34 Total $ 16,538 $ 34 $ — $ — $ 16,538 $ 34 The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuer is assessed. Significant inputs used to measure the amount of other-than-temporary impairment related to credit loss include, but are not limited to; the Company’s intent and ability to sell the debt security prior to recovery, that it is more likely than not that the Company will not sell the security prior to recovery, default and delinquency rates of the underlying collateral, remaining credit support, and historical loss severities. Adjustments to market value of available for sale securities that are considered temporary are recorded as separate components of shareholders’ equity, net of tax. If the unrealized loss of a security is identified as other-than-temporary based on information available, such as the decline in the creditworthiness of the issuer, external market ratings, or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if credit loss exists. If there is a credit loss, it will be recorded in the Company’s consolidated statement of operations. Non-credit components of the unrealized losses on available for sale securities will continue to be recognized in other comprehensive income (loss), net of tax. Unrealized losses reflected in the preceding tables have not been included in results of operations because the unrealized loss was not deemed other-than-temporary. Management has determined that more likely than not, the Company neither intends to sell, nor will it be required to sell each debt security before its anticipated recovery, and therefore recovery of cost will occur. |
LOANS, ALLOWANCE FOR LOAN LOSSE
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS | LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS Portfolio Segments: Commercial and agricultural real estate loans are underwritten after evaluating and understanding the borrower's ability to operate profitably and prudently expand its business. Management examines current and projected cash flows to determine the ability of the borrower to repay its obligations as agreed. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The level of owner-occupied property versus non-owner-occupied property are tracked and monitored on a regular basis. Agricultural real estate loans are primarily comprised of loans for the purchase of farmland. Loan-to-value ratios on loans secured by farmland generally do not exceed 75%. Commercial and industrial (“C&I”) loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. These cash flows, however, may not be as expected and the value of collateral securing the loans may fluctuate. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. Agricultural operating loans are generally comprised of term loans to fund the purchase of equipment, livestock and seasonal operating lines. Operating lines are typically written for one year and secured by the crop and other farm assets or other business assets, as considered necessary. Agricultural loans carry significant credit risks as they may involve larger balances concentrated with single borrowers or groups of related borrowers. In addition, repayment of such loans depends on the successful operation or management of the farm property securing the loan or for which an operating loan is utilized. Farming operations may be affected by adverse weather conditions such as drought, hail or floods that can severely limit crop yields. SBA PPP loan balances are 100% guaranteed under the Small Business Association’s Paycheck Protection Program and may be forgiven in full, depending on use of funds and eligibility. These SBA-backed loans helped businesses keep their workforce employed during the COVID-19 crisis. Eligible borrowers, who qualify for full loan forgiveness during the eight to twenty four week period following loan disbursement, can apply for forgiveness, once all proceeds for which the borrower requested forgiveness has been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. Residential mortgage loans are collateralized by primary and secondary positions on real estate and are underwritten primarily based on borrower’s documented income, credit scores, and collateral values. Under consumer home equity loan guidelines, the borrower will be approved for a loan based on a percentage of their home’s appraised value less the balance owed on the existing first mortgage. Credit risk is minimized within the residential mortgage portfolio due to relatively small loan account balances spread across many individual borrowers. Management evaluates trends in past due loans and current economic factors such as the housing price index on a regular basis. Consumer installment loans are comprised of originated indirect paper loans secured primarily by boats and recreational vehicles and other consumer loans secured primarily by automobiles and other personal assets. The Bank ceased new originations of indirect paper loans in early fiscal 2017. Consumer loan underwriting terms often depend on the collateral type, debt to income ratio and the borrower’s creditworthiness as evidenced by their credit score. In the event of a consumer installment loan default, collateral value alone may not provide an adequate source of repayment of the outstanding loan balance. This shortage is a result of the greater likelihood of damage, loss and depreciation for consumer based collateral. Credit Quality/Risk Ratings: Management utilizes a numeric risk rating system to identify and quantify the Bank’s risk of loss within its loan portfolio. Ratings are initially assigned prior to funding the loan, and may be changed at any time as circumstances warrant. Ratings range from the highest to lowest quality based on factors that include measurements of ability to pay, collateral type and value, borrower stability and management experience. The Bank’s loan portfolio ratings are presented below in accordance with the risk rating framework that has been commonly adopted by the federal banking agencies. The definitions of the various risk rating categories are as follows: 1 through 4 - Pass. A “Pass” loan means that the condition of the borrower and the performance of the loan is satisfactory or better. 5 - Watch. A “Watch” loan has clearly identifiable developing weaknesses that deserve additional attention from management. Weaknesses that are not corrected or mitigated, may jeopardize the ability of the borrower to repay the loan in the future. 6 - Special Mention. A “Special Mention” loan has one or more potential weakness that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position in the future. 7 - Substandard. A “Substandard” loan is inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Assets 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 Bank will sustain some loss if the deficiencies are not corrected. 8 - Doubtful. A “Doubtful” loan has all the weaknesses inherent in a Substandard loan with 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. 9 - Loss. Loans classified as “Loss” are considered uncollectible, and their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, and a partial recovery may occur in the future. Below is a summary of originated and acquired loans by type and risk rating as of March 31, 2021: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 363,758 $ 764 $ 1,081 $ — $ — $ 365,603 Agricultural real estate 36,439 522 1,179 — — 38,140 Multi-family real estate 111,199 304 — — — 111,503 Construction and land development 80,458 — 3,478 — — 83,936 C&I/Agricultural operating: Commercial and industrial 72,355 317 4,021 — — 76,693 Agricultural operating 20,003 1,045 101 — — 21,149 Residential mortgage: Residential mortgage 78,764 — 3,521 — — 82,285 Purchased HELOC loans 5,057 — 234 — — 5,291 Consumer installment: Originated indirect paper 23,024 — 162 — — 23,186 Other consumer 10,906 — 45 — — 10,951 Originated loans before SBA PPP loans 801,963 2,952 13,822 — — 818,737 SBA PPP loans 118,931 — — — — 118,931 Total originated loans $ 920,894 $ 2,952 $ 13,822 $ — $ — $ 937,668 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 135,059 $ 10,494 $ 4,033 $ — $ — $ 149,586 Agricultural real estate 27,041 — 5,386 — — 32,427 Multi-family real estate 7,485 — — — — 7,485 Construction and land development 6,553 204 39 — — 6,796 C&I/Agricultural operating: Commercial and industrial 18,865 9 366 — — 19,240 Agricultural operating 6,754 — 347 — — 7,101 Residential mortgage: Residential mortgage 37,982 — 2,064 — — 40,046 Consumer installment: Other consumer 906 — 7 — — 913 Total acquired loans $ 240,645 $ 10,707 $ 12,242 $ — $ — $ 263,594 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 498,817 $ 11,258 $ 5,114 $ — $ — $ 515,189 Agricultural real estate 63,480 522 6,565 — — 70,567 Multi-family real estate 118,684 304 — — — 118,988 Construction and land development 87,011 204 3,517 — — 90,732 Commercial/Agricultural non-real estate: Commercial and industrial 91,220 326 4,387 — — 95,933 Agricultural operating 26,757 1,045 448 — — 28,250 Residential mortgage: Residential mortgage 116,746 — 5,585 — — 122,331 Purchased HELOC loans 5,057 — 234 — — 5,291 Consumer installment: Originated indirect paper 23,024 — 162 — — 23,186 Other Consumer 11,812 — 52 — — 11,864 Gross loans before SBA PPP Loans 1,042,608 13,659 26,064 — — 1,082,331 SBA PPP loans 118,931 — — — — $ 118,931 Gross loans $ 1,161,539 $ 13,659 $ 26,064 $ — $ — $ 1,201,262 Less: Unearned net deferred fees and costs and loans in process (4,487) Unamortized discount on acquired loans (4,649) Allowance for loan losses (16,860) Loans receivable, net $ 1,175,266 Below is a summary of originated and acquired loans by type and risk rating as of December 31, 2020: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 349,482 $ 543 $ 1,088 $ — $ — $ 351,113 Agricultural real estate 30,041 446 1,254 — — 31,741 Multi-family real estate 112,423 308 — — — 112,731 Construction and land development 87,763 — 3,478 — — 91,241 C&I/Agricultural operating: Commercial and industrial 91,474 20 3,796 — — 95,290 Agricultural operating 22,462 934 1,061 — — 24,457 Residential mortgage: Residential mortgage 82,097 7 4,179 — — 86,283 Purchased HELOC loans 5,959 — 301 — — 6,260 Consumer installment: Originated indirect paper 25,616 — 235 — — 25,851 Other Consumer 11,986 — 70 — — 12,056 Originated loans before SBA PPP loans 819,303 2,258 15,462 — — 837,023 SBA PPP loans 123,702 — — — — 123,702 Total originated loans $ 943,005 $ 2,258 $ 15,462 $ — $ — $ 960,725 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 148,303 $ 4,274 $ 3,985 $ — $ — $ 156,562 Agricultural real estate 31,147 — 5,907 — — 37,054 Multi-family real estate 9,273 — 148 — — 9,421 Construction and land development 7,237 — 39 — — 7,276 C&I/Agricultural operating: Commercial and industrial 20,918 9 336 — — 21,263 Agricultural operating 7,838 — 490 — — 8,328 Residential mortgage: Residential mortgage 42,805 131 2,167 — — 45,103 Consumer installment: Other Consumer 1,150 — 7 — — 1,157 Total acquired loans $ 268,671 $ 4,414 $ 13,079 $ — $ — $ 286,164 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 497,785 $ 4,817 $ 5,073 $ — $ — 507,675 Agricultural real estate 61,188 446 7,161 — — 68,795 Multi-family real estate 121,696 308 148 — — 122,152 Construction and land development 95,000 — 3,517 — — 98,517 C&I/Agricultural operating: Commercial and industrial 112,392 29 4,132 — — 116,553 Agricultural operating 30,300 934 1,551 — — 32,785 Residential mortgage: Residential mortgage 124,902 138 6,346 — — 131,386 Purchased HELOC loans 5,959 — 301 — — 6,260 Consumer installment: Originated indirect paper 25,616 — 235 — — 25,851 Other Consumer 13,136 — 77 — — 13,213 Gross loans before SBA PPP loans 1,087,974 6,672 28,541 — — 1,123,187 SBA PPP loans 123,702 — — — — 123,702 Gross loans $ 1,211,676 $ 6,672 $ 28,541 $ — $ — $ 1,246,889 Less: Unearned net deferred fees and costs and loans in process (4,245) Unamortized discount on acquired loans (5,063) Allowance for loan losses (17,043) Loans receivable, net $ 1,220,538 The following table summarizes SBA PPP loans by round at March 31, 2021 and December 31, 2020 and includes additional round 2 activity in April 2021: (Dollars in Millions) Balance Net Deferred Fee Income SBA PPP Loans - Round 1 $ 124 $ 3.0 SBA PPP Loans - Round 2 — — Total SBA PPP Loans, December 31, 2020 124 3.0 SBA PPP Loans - Round 1 $ 72 $ 1.3 SBA PPP Loans - Round 2 47 1.7 Total SBA PPP Loans, March 31, 2021 119 3.0 Net deferred fees collected after March 31, 2021 from Q1 SBA PPP loan originations — 0.9 119 3.9 SBA PPP Pipeline Round 2, April 2021 8 0.8 March 31, 2021 plus SBA PPP Pipeline - Round 2, April 2021 $ 127 $ 4.7 Allowance for Loan Losses - The ALL represents management’s estimate of probable and inherent credit losses in the Bank’s loan portfolio. Estimating the amount of the ALL requires the exercise of significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, and consideration of other qualitative factors such as current economic trends and conditions, all of which may be susceptible to significant change. There are many factors affecting the ALL; some are quantitative, while others require qualitative judgment. The process for determining the ALL (which management believes adequately considers potential factors which result in probable credit losses), includes subjective elements and, therefore, may be susceptible to significant change. To the extent actual outcomes differ from management estimates, additional provision for loan losses could be required that could adversely affect the Company’s earnings or financial position in future periods. Allocations of the ALL may be made for specific loans but the entire ALL is available for any loan that, in management’s judgment, should be charged-off or for which an actual loss is realized. As an integral part of their examination process, various regulatory agencies also review the Bank’s ALL. Such agencies may require that changes in the ALL be recognized when such regulators’ credit evaluations differ from those of our management based on information available to the regulators at the time of their examinations. Changes in the ALL by loan type for the periods presented below were as follows: Commercial/Agriculture Real Estate C&I/Agricultural operating Residential Mortgage Consumer Installment Unallocated Total Three months ended March 31, 2021 Allowance for Loan Losses: Beginning balance, January 1, 2021 $ 10,271 $ 2,112 $ 1,041 $ 489 $ 906 $ 14,819 Charge-offs — — — (25) — (25) Recoveries 5 8 7 10 — 30 Provision 833 (487) (107) (24) (11) 204 Total Allowance on originated loans 11,109 1,633 941 450 895 15,028 Purchased credit impaired loans — — — — — — Other acquired loans: Beginning balance, January 1, 2021 1,684 141 335 64 — 2,224 Charge-offs (200) — — — — (200) Recoveries — 7 1 4 — 12 Provision (183) (54) 52 (19) — (204) Total Allowance on other acquired loans 1,301 94 388 49 — 1,832 Total Allowance on acquired loans 1,301 94 388 49 — 1,832 Ending balance, March 31, 2021 $ 12,410 $ 1,727 $ 1,329 $ 499 $ 895 $ 16,860 Allowance for Loan Losses at March 31, 2021: Amount of allowance for loan losses arising from loans individually evaluated for impairment $ 1,094 $ 10 $ 157 $ — $ — $ 1,261 Amount of allowance for loan losses arising from loans collectively evaluated for impairment $ 11,316 $ 1,717 $ 1,172 $ 499 $ 895 $ 15,599 Loans Receivable as of March 31, 2021 — Ending balance of originated loans $ 599,182 $ 216,773 $ 87,576 $ 34,137 $ — $ 937,668 Ending balance of purchased credit-impaired loans 14,856 1,367 1,218 — — 17,441 Ending balance of other acquired loans 181,438 24,974 38,828 913 — 246,153 Ending balance of loans $ 795,476 $ 243,114 $ 127,622 $ 35,050 $ — $ 1,201,262 Ending balance: individually evaluated for impairment $ 24,948 $ 6,197 $ 8,843 $ 255 $ — $ 40,243 Ending balance: collectively evaluated for impairment $ 770,528 $ 236,917 $ 118,779 $ 34,795 $ — $ 1,161,019 Commercial/Agriculture Real Estate C&I/Agricultural operating Residential Mortgage Consumer Installment Unallocated Total Three months ended March 31, 2020 Allowance for Loan Losses: Beginning balance, January 1, 2020 $ 6,205 $ 1,643 $ 879 $ 467 $ 357 $ 9,551 Charge-offs — (307) — (49) — (356) Recoveries — — 5 20 — 25 Provision 1,072 323 40 92 103 1,630 Total Allowance on originated loans $ 7,277 $ 1,659 $ 924 $ 530 $ 460 $ 10,850 Purchased credit impaired loans — — — — — — Other acquired loans Beginning balance, January 1, 2020 526 27 163 53 — 769 Charge-offs — (135) (27) (2) — (164) Recoveries — — 8 2 — 10 Provision 139 268 (29) (8) — 370 Total Allowance on other acquired loans 665 160 115 45 — 985 Total Allowance on acquired loans 665 160 115 45 — 985 Ending balance, March 31, 2020 $ 7,942 $ 1,819 $ 1,039 $ 575 $ 460 $ 11,835 Allowance for Loan Losses at March 31, 2020: Amount of allowance for loan losses arising from loans individually evaluated for impairment $ 733 $ 92 $ 181 $ 27 $ — $ 1,033 Amount of allowance for loan losses arising from loans collectively evaluated for impairment $ 7,209 $ 1,727 $ 858 $ 548 $ 460 $ 10,802 Loans Receivable as of March 31, 2020: Ending balance of originated loans $ 519,958 $ 107,949 $ 110,455 $ 51,494 $ — $ 789,856 Ending balance of purchased credit-impaired loans 25,452 3,845 1,934 — — 31,231 Ending balance of other acquired loans 257,059 48,152 61,023 2,104 — 368,338 Ending balance of loans $ 802,469 $ 159,946 $ 173,412 $ 53,598 $ — $ 1,189,425 Ending balance: individually evaluated for impairment $ 36,470 $ 8,759 $ 10,226 $ 496 $ — $ 55,951 Ending balance: collectively evaluated for impairment $ 765,999 $ 151,187 $ 163,186 $ 53,102 $ — $ 1,133,474 Commercial/Agriculture Real Estate C&I/Agricultural operating Residential Mortgage Consumer Installment Unallocated Total Allowance for Loan Losses at December 31, 2020: Amount of allowance for loan losses arising from loans individually evaluated for impairment $ 698 $ 190 $ 226 $ 1 $ — $ 1,115 Amount of allowance for loan losses arising from loans collectively evaluated for impairment $ 11,257 $ 2,063 $ 1,150 $ 552 $ 906 $ 15,928 Loans Receivable as of December 31, 2020: Ending balance of originated loans $ 586,826 $ 243,449 $ 92,543 $ 37,907 $ — $ 960,725 Ending balance of purchased credit-impaired loans 15,100 1,534 1,312 — — 17,946 Ending balance of other acquired loans 195,213 28,057 43,791 1,157 — 268,218 Ending balance of loans $ 797,139 797139000 $ 273,040 $ 137,646 $ 39,064 $ — $ 1,246,889 Ending balance: individually evaluated for impairment $ 26,303 $ 7,115 $ 9,621 $ 358 $ — $ 43,397 Ending balance: collectively evaluated for impairment $ 770,836 $ 265,925 $ 128,025 $ 38,706 $ — $ 1,203,492 Loans receivable by loan type as of the end of the periods shown below were as follows: Commercial/Agriculture Real Estate Loans C&I/Agricultural Operating Residential Mortgage Consumer Installment Totals March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Performing loans Performing TDR loans $ 4,472 $ 4,695 $ 4,042 $ 3,836 $ 3,195 $ 3,142 $ 43 $ 49 $ 11,752 $ 11,722 Performing loans other 785,733 786,533 237,917 266,975 121,746 131,470 34,899 38,856 1,180,295 1,223,834 Total performing loans 790,205 791,228 241,959 270,811 124,941 134,612 34,942 38,905 1,192,047 1,235,556 Nonperforming loans (1) Nonperforming TDR loans 4,184 4,691 758 1,287 742 777 6 — 5,690 6,755 Nonperforming loans other 1,087 1,220 397 942 1,939 2,257 102 159 3,525 4,578 Total nonperforming loans 5,271 5,911 1,155 2,229 2,681 3,034 108 159 9,215 11,333 Total loans $ 795,476 $ 797,139 $ 243,114 $ 273,040 $ 127,622 $ 137,646 $ 35,050 $ 39,064 $ 1,201,262 $ 1,246,889 (1) Nonperforming loans are either 90+ days past due or nonaccrual. As of March 31, 2021, the Company had $209,511 in unused commitments, compared to $247,324 in unused commitments as of December 31, 2020. An aging analysis of the Company’s commercial/agricultural real estate, C&I, agricultural operating, residential mortgage, consumer installment and purchased third party loans as of March 31, 2021 and December 31, 2020, respectively, was as follows: 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Greater Than 89 Days Past Due and Accruing Total Nonaccrual Loans Total Past Due Accruing and Nonaccrual Loans Current Total March 31, 2021 Commercial/Agricultural real estate: Commercial real estate $ 1,788 $ 1,430 $ — $ 3,218 $ 760 $ 3,978 $ 511,211 $ 515,189 Agricultural real estate 361 — — 361 4,511 4,872 65,695 70,567 Multi-family real estate — — — — — — 118,988 118,988 Construction and land development — 204 — 204 — 204 90,528 90,732 C&I/Agricultural operating: Commercial and industrial 592 145 — 737 391 1,128 94,805 95,933 C&I SBA PPP loans — — — — — — 118,931 118,931 Agricultural operating 2,506 379 — 2,885 764 3,649 24,601 28,250 Residential mortgage: Residential mortgage 1,974 246 514 2,734 1,933 4,667 117,664 122,331 Purchased HELOC loans — — — — 234 234 5,057 5,291 Consumer installment: Originated indirect paper 20 33 — 53 64 117 23,069 23,186 Other Consumer 40 1 22 63 22 85 11,779 11,864 Total $ 7,281 $ 2,438 $ 536 $ 10,255 $ 8,679 $ 18,934 $ 1,182,328 $ 1,201,262 December 31, 2020 Commercial/Agricultural real estate: Commercial real estate $ 9,568 $ 467 $ — $ 10,035 $ 679 $ 10,714 $ 496,961 $ 507,675 Agricultural real estate 411 48 — 459 5,084 5,543 63,252 68,795 Multi-family real estate 308 — — 308 148 456 121,696 122,152 Construction and land development 3,898 — — 3,898 — 3,898 94,619 98,517 C&I/Agricultural operating: Commercial and industrial 436 491 — 927 357 1,284 115,269 116,553 SBA PPP loans — — — — — — 123,702 123,702 Agricultural operating 1,499 200 — 1,699 1,872 3,571 29,214 32,785 Residential mortgage: Residential mortgage 2,238 372 516 3,126 2,217 5,343 126,043 131,386 Purchased HELOC loans 338 94 67 499 234 733 5,527 6,260 Consumer installment: Originated indirect paper 90 37 — 127 133 260 25,591 25,851 Other Consumer 100 14 3 117 23 140 13,073 13,213 Total $ 18,886 $ 1,723 $ 586 $ 21,195 $ 10,747 $ 31,942 $ 1,214,947 $ 1,246,889 At March 31, 2021, the Company has identified impaired loans of $40,243, consisting of $17,442 TDR loans, the carrying amount of purchased credit impaired loans of $16,475 and $6,326 of substandard non-TDR loans. The $40,243 total of impaired loans includes $11,752 of performing TDR loans. At December 31, 2020, the Company has identified impaired loans of $43,397, consisting of $18,477 TDR loans, the carrying amount of purchased credit impaired loans of $16,859 and $8,061 of substandard non-TDR loans. The $43,397 total of impaired loans includes $11,752 of performing TDR loans. A loan is identified as impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due according to the contractual terms of the loan agreement. Performing TDRs consist of loans that have been modified and are performing in accordance with the modified terms for a sufficient length of time, generally six months, or loans that were modified on a proactive basis. A summary of the Company’s impaired loans as of March 31, 2021, December 31, 2020 and March 31, 2020 was as follows: Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2021 With No Related Allowance Recorded: Commercial/agriculture real estate $ 19,714 $ 19,714 $ — $ 21,864 $ 239 C&I/Agricultural operating 6,118 6,118 — 6,226 70 Residential mortgage 8,191 8,191 — 8,367 80 Consumer installment 255 255 — 306 3 Total $ 34,278 $ 34,278 $ — $ 36,763 $ 392 With An Allowance Recorded: Commercial/agriculture real estate $ 5,234 $ 5,234 $ 1,094 $ 3,762 $ 62 C&I/Agricultural operating 79 79 10 430 — Residential mortgage 652 652 157 866 8 Consumer installment — — — 1 — Total $ 5,965 $ 5,965 $ 1,261 $ 5,059 $ 70 March 31, 2021 Totals: Commercial/agriculture real estate $ 24,948 $ 24,948 $ 1,094 $ 25,626 $ 301 C&I/Agricultural operating 6,197 6,197 10 6,656 70 Residential mortgage 8,843 8,843 157 9,233 88 Consumer installment 255 255 — 307 3 Total $ 40,243 $ 40,243 $ 1,261 $ 41,822 $ 462 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2020 With No Related Allowance Recorded: Commercial/agriculture real estate $ 24,013 $ 24,013 $ — $ 32,264 $ 1,894 C&I/Agricultural operating 6,334 6,334 — 7,906 284 Residential mortgage 8,542 8,542 — 8,619 450 Consumer installment 356 356 — 368 30 Total $ 39,245 $ 39,245 $ — $ 49,157 $ 2,658 With An Allowance Recorded: Commercial/agriculture real estate $ 2,290 $ 2,290 $ 698 $ 2,217 $ 100 C&I/Agricultural operating 781 781 190 636 22 Residential mortgage 1,079 1,079 226 1,255 54 Consumer installment 2 2 1 35 1 Total $ 4,152 $ 4,152 $ 1,115 $ 4,143 $ 177 December 31, 2020 Totals Commercial/agriculture real estate $ 26,303 $ 26,303 $ 698 $ 34,481 $ 1,994 C&I/Agricultural operating 7,115 7,115 190 8,542 306 Residential mortgage 9,621 9,621 226 9,874 504 Consumer installment 358 358 1 403 31 Total $ 43,397 $ 43,397 $ 1,115 $ 53,300 $ 2,835 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2020 With No Related Allowance Recorded: Commercial/agriculture real estate $ 33,959 $ 33,959 $ — $ 37,237 $ 563 C&I/Agricultural operating 8,343 8,343 — 8,910 119 Residential mortgage 7,966 7,966 — 8,330 116 Consumer installment 397 397 — 388 8 Total $ 50,665 $ 50,665 $ — $ 54,865 $ 806 With An Allowance Recorded: Commercial/agriculture real estate $ 2,511 $ 2,511 $ 733 $ 2,327 $ 6 C&I/Agricultural operating 416 416 92 453 5 Residential mortgage 2,260 2,260 181 1,846 30 Consumer installment 99 99 27 83 1 Total $ 5,286 $ 5,286 $ 1,033 $ 4,709 $ 42 March 31, 2020 Totals: Commercial/agriculture real estate $ 36,470 $ 36,470 $ 733 $ 39,564 $ 569 C&I/Agricultural operating 8,759 8,759 92 9,363 124 Residential mortgage 10,226 10,226 181 10,176 146 Consumer installment 496 496 27 471 9 Total $ 55,951 $ 55,951 $ 1,033 $ 59,574 $ 848 Troubled Debt Restructuring – A TDR includes a loan modification where a borrower is experiencing financial difficulty, and the Bank grants a concession to that borrower that the Bank would not otherwise consider, except for the borrower’s financial difficulties. Concessions may include: extension of the loan’s term, renewals of existing balloon loans, reductions in interest rates and consolidating existing Bank loans at modified terms. A TDR may be either on accrual or nonaccrual status based upon the performance of the borrower and management’s assessment of collectability. If a TDR is placed on nonaccrual status, it remains there until a sufficient period of performance under the restructured terms has occurred at which time it is returned to accrual status. There was one delinquent accruing TDR greater than 60 days past due with a recorded investment of $17 at March 31, 2021, compared to one such loans with a recorded investment of $20 at December 31, 2020. Following is a summary of TDR loans by accrual status as of March 31, 2021 and December 31, 2020. March 31, 2021 December 31, 2020 Troubled debt restructure loans: Accrual status $ 11,752 $ 11,742 Non-accrual status 5,690 6,735 Total $ 17,442 $ 18,477 There were no loan commitments meeting our TDR criteria as of March 31, 2021 and December 31, 2020. There were unused lines of credit totaling $42 and $15 meeting our TDR criteria as of March 31, 2021 and December 31, 2020, respectively. The following provides detail, including specific reserve and reasons for modification, related to loans identified as TDRs during the three months ended March 31, 2021 and March 31, 2020: Number of Contracts Maturity Extension Modified Payment Modified Under- writing Other Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve Three months ended March 31, 2021 TDRs: Commercial/agriculture real estate 2 $ 38 $ 81 $ — $ — $ 119 $ 119 $ — C&I/Agricultural operating 1 — — 240 — 240 240 — Residential mortgage 2 66 — 14 — 80 80 — Consumer installment 1 6 — — — 6 6 — Totals 6 $ 110 $ 81 $ 254 $ — $ 445 $ 445 $ — Number of Contracts Maturity Extension Modified Payment Modified Under- writing Other Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve Three months ended March 31, 2020 TDRs: Commercial/agriculture real estate 3 $ 248 $ — $ 17 $ — $ 265 $ 265 $ — C&I/Agricultural operating — — — — — — — — Residential mortgage 1 — — 85 — 85 85 — Consumer installment 2 3 — 4 — 7 7 — Totals 6 $ 251 $ — $ 106 $ — $ 357 $ 357 $ — A summary of loans by loan segment modified in a troubled debt restructuring as of March 31, 2021 and March 31, 2020, was as follows: March 31, 2021 March 31, 2020 Number of Recorded Number of Recorded Troubled debt restructurings: Commercial/agriculture real estate 30 $ 8,656 28 $ 6,415 C&I/Agricultural operating 14 4,800 14 2,065 Residential mortgage 52 3,937 42 3,539 Consumer installment 9 49 8 69 Total troubled debt restructurings 105 $ 17,442 92 $ 12,088 The following table provides the number of loans modified in a TDR during the previous twelve months which subsequently defaulted during the three months ended March 31, 2021 and March 31, 2020, as well as the recorded investment in these restructured loans as of March 31, 2021 and March 31, 2020: March 31, 2021 March 31, 2020 Number of Recorded Number of Recorded Troubled debt restructurings: Commercial/agriculture real estate — $ — 5 $ 1,892 C&I/Agricultural operating — — — — Residential mortgage 1 19 — — Consumer installment — — — — Total troubled debt restructurings 1 $ 19 5 $ 1,892 All acquired loans were initially recorded at fair value at the acquisition date. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: March 31, 2021 December 31, 2020 Accountable for under ASC 310-30 (Purchased Credit Impaired “PCI” loans) Outstanding balance $ 17,441 $ 17,946 Carrying amount $ 16,475 $ 16,859 Accountable for under ASC 310-20 (non-PCI loans) Outstanding balance $ 246,153 $ 268,218 Carrying amount $ 242,470 $ 264,242 Total acquired loans Outstanding balance $ 263,594 $ 286,164 Carrying amount $ 258,945 $ 281,101 The following table provides changes in accretable yield for all acquired loans from prior acquisitions with deteriorated credit quality: March 31, 2021 March 31, 2020 Balance at beginning of period $ 3,976 $ 3,201 Acquisitions — — Reduction due to unexpected early payoffs (90) — Reclass from non-accretable difference 63 669 Accretion (266) (233) Balance at end of period $ 3,683 $ 3,637 The following table provides changes in non-accretable yield for all acquired loans from prior acquisitions with deteriorated credit quality: March 31, 2021 December 31, 2020 Balance at beginning of period $ 1,087 $ 6,290 Additions to non-accretable difference for acquired purchased credit impaired loans — — Non-accretable difference realized as interest from payoffs of purchased credit impaired loans (58) (1,693) Transfers from non-accretable difference to accretable discount (63) (2,754) Non-accretable difference used to reduce loan principal balance — (505) Non-accretable difference transferred to OREO due to loan foreclosure — (251) Balance at end of period $ 966 $ 1,087 |
MORTGAGE SERVICING RIGHTS
MORTGAGE SERVICING RIGHTS | 3 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
MORTGAGE SERVICING RIGHTS | MORTGAGE SERVICING RIGHTS Mortgage servicing rights-- Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid balances of these loans as of March 31, 2021 and December 31, 2020 were $551,622 and $553,655, respectively, and consisted of one to four family residential real estate loans. These loans are serviced primarily for the Federal Home Loan Mortgage Corporation, Federal Home Loan Bank and the Federal National Mortgage Association. The current period valuation allowance is included as amortization of mortgage servicing rights in non-interest expense on the consolidated statement of operations. Custodial escrow balances maintained in connection with the foregoing loan servicing, and included in deposits were $4,979 and $2,890, at March 31, 2021 and December 31, 2020, respectively. Mortgage servicing rights activity for the three month period ended March 31, 2021 and twelve months ended December 31, 2020 were as follows: As of and for the Three Months Ended As of and for the Twelve Months Ended Mortgage servicing rights: March 31, 2021 December 31, 2020 Mortgage servicing rights, beginning of period $ 5,266 $ 4,541 Increase in mortgage servicing rights resulting from transfers of financial assets 297 2,020 Amortization during the period (439) (1,295) 5,124 5,266 Valuation allowance: Valuation allowance, beginning of period (2,014) (259) Additions — (1,755) Recoveries 889 — Valuation allowance, end of period (1,125) (2,014) Mortgage servicing rights, net $ 3,999 $ 3,252 Fair value of mortgage servicing rights; end of period $ 4,005 $ 3,285 Residential mortgage loans serviced for others $ 551,622 $ 553,655 Net book value of mortgage servicing rights to loans serviced for others 0.73 % 0.59 % Servicing fees totaled $352 and $339 for the three months ended March, 31 2021 and March 31, 2020, respectively. Late fees and ancillary fees related to loan servicing are not material. To estimate the fair value of the MSR asset, a valuation model is applied at the loan level to calculate the present value of the expected future cash flows. The valuation model incorporates various assumptions that would impact market participants’ estimations of future servicing income. Central to the valuation model is the discount rate. Fair value at March 31, 2021 was determined using discount rates ranging from 9% to 12%. Fair value at December 31, 2020 was determined using discount rates ranging from 9% to 12%. Other assumptions utilized in the valuation model include, but are not limited to, prepayment speed, servicing costs, delinquencies, costs of advances, foreclosure costs, ancillary income, and income earned on float and escrow. |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
LEASES | LEASES We have operating leases for our corporate offices (1) and bank branch offices (5). Our leases have remaining lease terms ranging from approximately 2 to 7.08 years, some of which include options to extend the leases for up to 5 additional years. As of March 31, 2021, we have no additional lease commitments that have not yet commenced. The Company also leases a portion of some of its facilities and receives rental income from such lease agreements, all of which are considered operating leases. Three Months Ended March 31, 2021 March 31, 2020 The components of total lease cost were as follows: Operating lease cost $ 139 $ 161 Variable lease cost 7 2 Total lease cost $ 146 $ 163 The components of total lease income were as follows: Operating lease income $ 7 $ 3 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 138 $ 159 March 31, 2021 December 31, 2020 Supplemental balance sheet information related to leases was as follows: Operating lease right-of-use assets $ 2,539 $ 2,657 Operating lease liabilities $ 2,606 $ 2,762 Weighted average remaining lease term in years; operating leases 6.18 6.32 Weighted average discount rate; operating leases 2.7 % 2.7 % Cash obligations and receipts under lease contracts are as follows: Fiscal years ending December 31, Payments Receipts 2021 $ 415 $ 25 2022 558 34 2023 505 27 2024 419 2025 403 Thereafter 826 Total 3,126 $ 86 Less: effects of discounting (520) Lease liability recognized $ 2,606 |
LEASES | LEASES We have operating leases for our corporate offices (1) and bank branch offices (5). Our leases have remaining lease terms ranging from approximately 2 to 7.08 years, some of which include options to extend the leases for up to 5 additional years. As of March 31, 2021, we have no additional lease commitments that have not yet commenced. The Company also leases a portion of some of its facilities and receives rental income from such lease agreements, all of which are considered operating leases. Three Months Ended March 31, 2021 March 31, 2020 The components of total lease cost were as follows: Operating lease cost $ 139 $ 161 Variable lease cost 7 2 Total lease cost $ 146 $ 163 The components of total lease income were as follows: Operating lease income $ 7 $ 3 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 138 $ 159 March 31, 2021 December 31, 2020 Supplemental balance sheet information related to leases was as follows: Operating lease right-of-use assets $ 2,539 $ 2,657 Operating lease liabilities $ 2,606 $ 2,762 Weighted average remaining lease term in years; operating leases 6.18 6.32 Weighted average discount rate; operating leases 2.7 % 2.7 % Cash obligations and receipts under lease contracts are as follows: Fiscal years ending December 31, Payments Receipts 2021 $ 415 $ 25 2022 558 34 2023 505 27 2024 419 2025 403 Thereafter 826 Total 3,126 $ 86 Less: effects of discounting (520) Lease liability recognized $ 2,606 |
DEPOSITS
DEPOSITS | 3 Months Ended |
Mar. 31, 2021 | |
Deposits [Abstract] | |
DEPOSITS | DEPOSITS The following is a summary of deposits by type at March 31, 2021 and December 31, 2020, respectively: March 31, 2021 December 31, 2020 Non-interest bearing demand deposits $ 257,042 $ 238,348 Interest bearing demand deposits 352,302 301,764 Savings accounts 222,448 196,348 Money market accounts 258,942 245,549 Certificate accounts 289,468 313,247 Total deposits $ 1,380,202 $ 1,295,256 Brokered deposits included above: $ 2,516 $ 2,516 At March 31, 2021, the scheduled maturities of time deposits were as follows: March 31, 2022 $ 217,364 March 31, 2023 61,638 March 31, 2024 6,975 March 31, 2025 2,814 March 31, 2026 677 After March 31, 2026 — Total $ 289,468 |
FEDERAL HOME LOAN BANK AND FEDE
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES AND OTHER BORROWINGS | 3 Months Ended |
Mar. 31, 2021 | |
Federal Home Loan Banks [Abstract] | |
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES AND OTHER BORROWINGS | FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES AND OTHER BORROWINGS A summary of Federal Home Loan Bank advances and other borrowings at March 31, 2021 and December 31, 2020 is as follows: March 31, 2021 December 31, 2020 Stated Maturity Amount Range of Stated Rates Amount Range of Stated Rates Federal Home Loan Bank advances (1), (2), (3), (4) 2021 $ 4,000 — % — % $ 8,000 — % 2.16 % 2022 11,000 2.45 % 2.45 % 15,000 2.34 % 2.45 % 2023 20,000 1.43 % 1.44 % 20,000 1.43 % 1.44 % 2024 20,530 — % 1.45 % 20,530 — % 1.45 % 2025 5,000 1.45 % 1.45 % 5,000 1.45 % 1.45 % 2029 42,500 1.00 % 1.13 % 42,500 1.00 % 1.13 % 2030 12,500 0.52 % 0.86 % 12,500 0.52 % 0.86 % Subtotal 115,530 123,530 Unamortized discount on acquired notes (49) (32) Federal Home Loan Bank advances, net $ 115,481 $ 123,498 Senior Notes (5) 2031 $ 28,856 3.50 % 3.50 % $ 28,856 3.25 % 3.50 % Subordinated Notes (6) 2027 $ 15,000 6.75 % 6.75 % $ 15,000 6.75 % 6.75 % 2030 15,000 6.00 % 6.00 % 15,000 6.00 % 6.00 % $ 30,000 $ 30,000 Unamortized debt issuance costs $ (502) $ (528) Total other borrowings $ 58,354 $ 58,328 Totals $ 173,835 $ 181,826 (1) The FHLB advances bear fixed rates, require interest-only monthly payments, and are collateralized by a blanket lien on pre-qualifying first mortgages, home equity lines, multi-family loans and certain other loans which had a pledged balance of $720,008 and $723,862 at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021, the Bank’s available and unused portion under the FHLB borrowing arrangement was approximately $122,791 compared to $118,391 as of December 31, 2020. (2) Maximum month-end borrowed amounts outstanding under this borrowing agreement were $123,530 and $162,530, during the three months ended March 31, 2021 and the twelve months ended December 31, 2020, respectively. (3) The weighted-average interest rates on FHLB borrowings maturing within twelve months as of March 31, 2021 and December 31, 2020 were 1.80% and 0.50%, respectively. (4) FHLB term notes totaling $55,000, with various maturity dates in 2029 and 2030, can be called or replaced by the FHLB on a quarterly basis, beginning approximately three months after the initial advance. (5) Senior notes, entered into by the Company in June 2019 consist of the following: (a) A term note, which was subsequently refinanced in October 2020, requiring quarterly interest-only payments through June 2022, and quarterly principal and interest payments thereafter. Interest is variable, based on US Prime rate with a floor rate of 3.25%. (b) A $5,000 line of credit, maturing in August 2021, that remains undrawn upon. (6) Subordinated notes resulted from the following: (a) The Company’s private sale in August 2017, which bears a fixed interest rate of 6.75% for five years. In August 2022, they convert to a three-month LIBOR plus 4.90% rate, and the interest rate will reset quarterly thereafter. Interest-only payments are due quarterly. (b) The Company’s Subordinated Note Purchase Agreement entered into with certain purchasers in August 2020, which bears a fixed interest rate of 6.00% for five years. In September 2025, the fixed interest rate will be reset quarterly to equal the three-month term Secured Overnight Financing Rate plus 591 basis points. Interest-only payments are due semi-annually each year during the fixed interest period and quarterly during the floating interest period. Federal Home Loan Bank Letters of Credit The Bank has an irrevocable Standby Letter of Credit Master Reimbursement Agreement with the Federal Home Loan Bank. This irrevocable standby letter of credit (“LOC”) is supported by loan collateral as an alternative to directly pledging investment securities on behalf of a municipal customer as collateral for their interest bearing deposit balances. These balances were $179,725 and $179,400 at March 31, 2021 and December 31, 2020, respectively. Federal Reserve Bank Paycheck Protection Program Liquidity Facility (“FRB PPPLF”) Program The Bank has originated Small Business Association’s Paycheck Protection Program (“SBA PPP”) loans and has complied with the requirements to pledge these loans to the FRB PPPLF program which provides 100% funding for SBA PPP loans upon request. At March 31, 2021 the Bank had $118,931 of borrowing capacity under the Federal Reserve SBA PPP facility, which the Federal Reserve established in 2020. The Bank has no outstanding loan balances under this facility at March 31, 2021 and December 31, 2020. Maximum month-end borrowed amounts outstanding under this agreement were $0 and $25,136, during the three months ended March 31, 2021 and the twelve months ended December 31, 2020, respectively. |
CAPITAL MATTERS
CAPITAL MATTERS | 3 Months Ended |
Mar. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
CAPITAL MATTERS | CAPITAL MATTERS Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. Although these terms are not used to represent overall financial condition, if adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At March 31, 2021, the Bank was categorized as “Well Capitalized”, under Prompt Corrective Action Provisions. The Bank’s Tier 1 (leverage) and risk-based capital ratios at March 31, 2021 and December 31, 2020, respectively, are presented below: Actual For Capital Adequacy To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio As of March 31, 2021 Total capital (to risk weighted assets) $ 174,424 15.5 % $ 89,877 > = 8.0 % $ 112,347 > = 10.0 % Tier 1 capital (to risk weighted assets) 160,344 14.3 % $ 67,408 > = 6.0 % 89,877 > = 8.0 % Common equity tier 1 capital (to risk weighted assets) 160,344 14.3 % $ 50,556 > = 4.5 % 73,025 > = 6.5 % Tier 1 leverage ratio (to adjusted total assets) 160,344 9.8 % 65,595 > = 4.0 % 81,993 > = 5.0 % As of December 31, 2020 Total capital (to risk weighted assets) $ 171,702 14.7 % $ 93,381 > = 8.0 % $ 116,726 > = 10.0 % Tier 1 capital (to risk weighted assets) 157,081 13.5 % 70,035 > = 6.0 % 93,381 > = 8.0 % Common equity tier 1 capital (to risk weighted assets) 157,081 13.5 % 52,527 > = 4.5 % 75,872 > = 6.5 % Tier 1 leverage ratio (to adjusted total assets) 157,081 9.9 % 63,718 > = 4.0 % 79,647 > = 5.0 % The Company’s Tier 1 (leverage) and risk-based capital ratios at March 31, 2021 and December 31, 2020, respectively, are presented below: Actual For Capital Adequacy Amount Ratio Amount Ratio As of March 31, 2021 Total capital (to risk weighted assets) $ 167,145 14.9 % 89,877 > = 8.0 % Tier 1 capital (to risk weighted assets) 123,065 11.0 % 67,408 > = 6.0 % Common equity tier 1 capital (to risk weighted assets) 123,065 11.0 % 50,556 > = 4.5 % Tier 1 leverage ratio (to adjusted total assets) 123,065 7.5 % 65,595 > = 4.0 % As of December 31, 2020 Total capital (to risk weighted assets) $ 166,703 14.3 % $ 93,381 > = 8.0 % Tier 1 capital (to risk weighted assets) 122,082 10.5 % 70,035 > = 6.0 % Common equity tier 1 capital (to risk weighted assets) 122,082 10.5 % 52,527 > = 4.5 % Tier 1 leverage ratio (to adjusted total assets) 122,082 7.7 % 63,718 > = 4.0 % |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 3 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION On March 27, 2018, the stockholders of Citizens Community Bancorp, Inc. approved the 2018 Equity Incentive Plan. The aggregate number of shares of common stock reserved and available for issuance under the 2018 Equity Incentive Plan is 350,000 shares. As of March 31, 2021, 163,974 restricted shares had been granted under this plan. As of March 31, 2021, no stock options had been granted under this plan. In February 2008, the Company’s stockholders approved the Company’s 2008 Equity Incentive Plan for a term of 10 years. Due to the plan’s expiration, no new awards can be granted under this plan. As of March 31, 2021,there are 3,619 remaining unvested restricted shares and 71,700 unexercised options. Restricted shares granted under the 2008 Equity Incentive Plan were awarded at no cost to the employee and vest pro rata over a two five five Net compensation expense related to restricted stock awards from these plans was $171 for the three months ended March 31, 2021, compared to $139 for the three months ended March 31, 2020. Restricted Common Stock Award March 31, 2021 December 31, 2020 Number of Shares Weighted Number of Shares Weighted Restricted Shares Unvested and outstanding at beginning of year 57,242 $ 12.23 43,457 $ 12.76 Granted 64,399 10.78 45,507 11.79 Vested (11,413) 12.40 (31,722) 12.32 Forfeited (1,500) 10.78 — — Unvested and outstanding at end of year 108,728 $ 11.37 57,242 $ 12.23 The Company accounts for stock-based employee compensation related to the Company’s 2008 Equity Incentive Plan and 2018 Equity Incentive Plan using the fair-value-based method. Accordingly, management records compensation expense based on the value of the award as measured on the grant date and then the Company recognizes that cost over the vesting period for the award. The compensation cost recognized for stock-based employee compensation related to these plans for the three month period ended March 31, 2021 was $3. The compensation cost recognized for stock-based employee compensation related to these plans for the three month period ended March 31, 2020 was $4. Common Stock Option Awards Option Shares Weighted Weighted Aggregate March, 31, 2021 Outstanding at beginning of year 72,300 $ 11.05 Exercised — — Forfeited or expired (600) 13.76 Outstanding at end of year 71,700 $ 11.02 5.23 Exercisable at end of year 57,100 $ 10.69 5.06 $ 98 Fully vested and expected to vest 71,700 $ 11.02 5.23 $ 99 December 31, 2020 Outstanding at beginning of year 78,100 $ 11.18 Exercised — — Forfeited or expired (5,800) 11.95 Outstanding at end of year 72,300 $ 11.05 5.49 Exercisable at end of year 54,100 $ 10.82 5.37 $ 4 Fully vested and expected to vest 72,300 $ 11.05 5.49 $ — Information related to the 2008 Equity Incentive Plan for the respective periods follows: Three months ended March 31, 2021 Twelve months ended December 31, 2020 Intrinsic value of options exercised $ — $ — Cash received from options exercised $ — $ — Tax benefit realized from options exercised $ — $ — |
FAIR VALUE ACCOUNTING
FAIR VALUE ACCOUNTING | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE ACCOUNTING | FAIR VALUE ACCOUNTING ASC Topic 820-10, “ Fair Value Measurements and Disclosures ” establishes a 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 topic describes three levels of inputs that may be used to measure fair value: Level 1- Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date. Level 2- Significant other 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. Level 3- Significant unobservable inputs that reflect the Company’s assumptions about the factors that market participants would use in pricing an asset or liability. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input within the valuation hierarchy that is significant to the fair value measurement. The fair value of securities available for sale is determined by obtaining market price quotes from independent third parties wherever such quotes are available (Level 1 inputs); or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). Where such quotes are not available, we utilize independent third party valuation analysis to support our own estimates and judgments in determining fair value (Level 3 inputs). Assets Measured on a Recurring Basis The following tables present the financial instruments measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020: Fair Quoted Prices in Significant Significant March 31, 2021 Investment securities: U.S. government agency obligations $ 31,712 $ — $ 31,712 $ — Obligations of states and political subdivisions 140 — 140 — Mortgage-backed securities 72,056 — 72,056 — Corporate debt securities 27,913 — 27,913 — Corporate asset-backed securities 35,709 — 35,709 — Trust preferred securities 17,630 — 17,630 — Total $ 185,160 $ — $ 185,160 $ — December 31, 2020 Investment securities: U.S. government agency obligations $ 33,365 $ — $ 33,365 $ — Obligations of states and political subdivisions 140 — 140 — Mortgage-backed securities 40,991 — 40,991 — Corporate debt securities 17,462 — 17,462 — Corporate asset backed securities 35,827 — 35,827 — Trust preferred securities 16,448 — 16,448 — Total $ 144,233 $ — $ 144,233 $ — Assets Measured on Nonrecurring Basis The following tables present the financial instruments measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020: Carrying Value Quoted Prices in Significant Significant March 31, 2021 Foreclosed and repossessed assets, net $ 85 $ — $ — $ 85 Impaired loans with allocated allowances 4,704 — — 4,704 Mortgage servicing rights 3,999 — — 4,005 Total $ 8,788 $ — $ — $ 8,794 December 31, 2020 Foreclosed and repossessed assets, net $ 197 $ — $ — $ 197 Impaired loans with allocated allowances 3,037 — — 3,037 Mortgage servicing rights 3,252 — — 3,285 Total $ 6,486 $ — $ — $ 6,519 The fair value of impaired loans referenced above was determined by obtaining independent third party appraisals and/or internally developed collateral valuations to support the Company’s estimates and judgments in determining the fair value of the underlying collateral supporting impaired loans. The fair value of foreclosed and repossessed assets was determined by obtaining market price valuations from independent third parties wherever such quotes were available for other collateral owned. The Company utilized independent third party appraisals to support the Company’s estimates and judgments in determining fair value for other real estate owned. The fair value of mortgage servicing rights was estimated using discounted cash flows based on current market rates and other factors. The following table represents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine their fair value at March 31, 2021. Fair Valuation Techniques (1) Significant Unobservable Inputs (2) Range March 31, 2021 Foreclosed and repossessed assets, net $ 85 Appraisal value Estimated costs to sell 10% - 15% Impaired loans with allocated allowances $ 4,704 Appraisal value Estimated costs to sell 10% - 15% Mortgage servicing rights $ 4,005 Discounted cash flows Discounted rates 9% - 12% December 31, 2020 Foreclosed and repossessed assets, net $ 197 Appraisal value Estimated costs to sell 10% - 15% Impaired loans with allocated allowances $ 3,037 Appraisal value Estimated costs to sell 10% - 15% Mortgage servicing rights $ 3,285 Discounted cash flows Discounted rates 9% - 12% (1) Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various level 3 inputs which are not observable. (2) The fair value basis of impaired loans and real estate owned may be adjusted to reflect management estimates of disposal costs including, but not limited to, real estate brokerage commissions, legal fees, and delinquent property taxes. The table below represents what we would receive to sell an asset or what we would have to pay to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying amount and estimated fair value of the Company’s financial instruments as of the dates indicated below were as follows: March 31, 2021 December 31, 2020 Valuation Method Used Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents (Level I) $ 196,039 $ 196,039 $ 119,440 $ 119,440 Other interest-bearing deposits (Level II) 2,016 2,062 3,752 3,818 Securities available for sale “AFS” (Level II) 185,160 185,160 144,233 144,233 Securities held to maturity “HTM” (Level II) 57,419 55,786 43,551 43,784 Equity securities with readily determinable fair value (Level I) 297 297 200 200 Other investments (Level II) 15,069 15,069 14,948 14,948 Loans receivable, net (Level III) 1,175,266 1,198,049 1,220,538 1,239,692 Loans held for sale (Level II) 2,267 2,267 3,075 3,075 Mortgage servicing rights (Level III) 3,999 4,005 3,252 3,285 Accrued interest receivable (Level 1) 5,464 5,464 5,652 5,652 Financial liabilities: Deposits (Level III) $ 1,380,202 $ 1,360,333 $ 1,295,256 $ 1,292,104 FHLB advances (Level II) 115,481 118,996 123,498 128,282 Other borrowings (Level I) 58,354 58,354 58,328 58,328 Accrued interest payable (Level I) 603 603 796 796 |
OTHER COMPREHENSIVE INCOME (LOS
OTHER COMPREHENSIVE INCOME (LOSS) | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME (LOSS) | OTHER COMPREHENSIVE INCOME (LOSS) The following tables show the tax effects allocated to each component of other comprehensive loss for the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 March 31, 2020 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Unrealized gains on securities: Net unrealized losses arising during the period $ (672) $ 186 $ (486) $ (1,643) $ 452 $ (1,191) Reclassification adjustment for gains included in net income — — — 73 (20) 53 Other comprehensive loss $ (672) $ 186 $ (486) $ (1,570) $ 432 $ (1,138) The changes in the accumulated balances for each component of other comprehensive income (loss), net of tax for the twelve months ended December 31, 2020 and the three months ended March 31, 2021 were as follows: Unrealized Other Accumulated Beginning Balance, January 1, 2020 $ (649) $ (471) Current year-to-date other comprehensive income 2,705 1,961 Ending balance, December 31, 2020 $ 2,056 $ 1,490 Current year-to-date other comprehensive loss (672) (486) Ending balance, March 31, 2021 $ 1,384 $ 1,004 Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2021 were as follows: Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Income (Loss) Components Three months ended March 31, 2021 (1) Affected Line Item on the Statement of Operations Unrealized gains and losses Sale of securities $ — Net gains on investment securities Tax Effect — Provision for income taxes Total reclassifications for the period $ — Net gain attributable to common shareholders (1) Amounts in parentheses indicate decreases to income/loss. Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2020 were as follows: Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Income (Loss) Components Three months ended March 31, 2020 (1) Affected Line Item on the Statement of Operations Unrealized gains and losses Sale of securities $ 73 Net gains on investment securities Tax Effect (20) Provision for income taxes Total reclassifications for the period $ 53 Net gain attributable to common shareholders (1) Amounts in parentheses indicate decreases to profit/loss. |
NATURE OF BUSINESS AND SUMMAR_2
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation – The accompanying consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany accounts and transactions have been eliminated. |
Use of Estimates | Use of Estimates –Preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, fair value of financial instruments, the allowance for loan losses, mortgage servicing rights, foreclosed and repossessed assets, valuation of intangible assets arising from acquisitions, useful lives for depreciation and amortization, valuation of goodwill and long-lived assets, stock based compensation, deferred tax assets, uncertain income tax positions and contingencies. Management does not anticipate any material changes to estimates made herein in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: those items described under the caption “Risk Factors” in Item 1A of the annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 8, 2021; the matters described in “Risk Factors” in Item 1A of this Form 10-Q; external market factors such as market interest rates and unemployment rates; changes to operating policies and procedures and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period. |
Investment Securities; Held to Maturity and Available for Sale | Investment Securities; Held to Maturity and Available for Sale – Management determines the appropriate classification of investment securities at the time of purchase and reevaluates such designation as of the date of each balance sheet. Securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Held to maturity securities are stated at amortized cost. Investment securities not classified as held to maturity are classified as available for sale. Available for sale securities are stated at fair value, with unrealized holding gains and losses being reported in other comprehensive income (loss), net of tax. Unrealized losses deemed other-than-temporary due to credit issues are reported in the Company’s net income in the period in which the losses arise. Interest income includes amortization of purchase premium or accretion of purchase discount. Amortization of premiums and accretion of discounts are recognized in interest income using the interest method over the estimated lives of the securities. The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuer is assessed. Significant inputs used to measure the amount of other-than-temporary impairment related to credit loss include, but are not limited to: the Company’s intent and ability to sell the debt security prior to recovery, that it is more likely than not that the Company will not sell the security prior to recovery, default and delinquency rates of the underlying collateral, remaining credit support, and historical loss severities. Adjustments to market value of available for sale securities that are considered temporary are recorded in other comprehensive income or loss as separate components of stockholders’ equity, net of tax. If the unrealized loss of a security is identified as other-than-temporary based on information available, such as the decline in the creditworthiness of the issuer, external market ratings, or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if credit loss exists. If there is a credit loss, it will be recorded in the Company’s consolidated statement of operations. Non-credit components of the unrealized losses on available for sale securities will continue to be recognized in other comprehensive income (loss), net of tax. |
Equity securities with readily determinable fair value | Equity securities with readily determinable fair value - The Company is required to maintain an investment in Federal Agricultural Mortgage Corporation (“Farmer Mac”) equity securities. Farmer Mac equity securities are carried at their fair market value, which is readily determinable. Changes in fair value are recognized as net gains (losses) on investment securities in the consolidated Statement of Operations. |
Other Investments | Other Investments - As a member of the Federal Reserve Bank (“FRB”) System and the Federal Home Loan Bank (“FHLB”) System, the Bank is required to maintain an investment in the capital stock of these entities. These securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other exchange traded equity securities. As no ready market exists for these stocks, and they have no quoted market value, these investments are carried at cost and periodically evaluated for impairment based on the ultimate recovery of par value. Cash dividends are reported as other income in the consolidated statement of operations. Also included in other investments is stock of our correspondent bank, Bankers’ Bank, without readily determinable fair value. This stock is carried at cost plus or minus changes resulting from observable price changes in orderly transactions for this stock, less other-than-temporary impairment charges, if any. |
Loans | Loans – Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of: deferred loan fees and costs, accretable yield on acquired loans and non-accretable discount on purchased credit impaired (PCI) loans. Interest income is accrued on the unpaid principal balance of these loans. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the interest method with no prepayment assumptions. Late charge fees are recognized into income when collected. Interest income on commercial, mortgage and consumer loans is discontinued according to the following schedules: • Commercial/agricultural real estate loans past due 90 days or more; • Commercial and industrial/agricultural operating loans past due 90 days or more; • Closed end consumer installment loans past due 120 days or more; and • Residential mortgage loans and open ended consumer installment loans past due 180 days or more. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual status or charged off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash basis or cost recovery method until qualifying for return to accrual status. Loans are returned to accrual status when payments are made that bring the loan account current with the contractual term of the loan and a six month payment history has been established. Interest on accruing troubled debt restructured (“TDR”), less than 90 days delinquent, is recognized as income as it accrues, based on the revised terms of the loan over an established period of continued payment. Residential mortgage loans and open ended consumer installment loans are charged off to estimated net realizable value less estimated selling costs at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 180 days or more. Closed ended consumer installment loans are charged off to net realizable value at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 120 days or more. Commercial/agricultural real estate, commercial and industrial and agricultural operating loans are charged off to net realizable value at the earlier of when (a) the loan is deemed by management to be uncollectible, or (b) the loan becomes past due 90 days or more. |
Allowance for Loan Losses | Allowance for Loan Losses – The allowance for loan losses (“ALL”) is a valuation allowance for probable and inherent credit losses in our loan portfolio. Loan losses are charged against the ALL when management believes that the collectability of a loan balance is unlikely. Subsequent recoveries, if any, are credited to the ALL. Management estimates the required ALL balance taking into account the following factors: past loan loss experience; the nature, volume and composition of our loan portfolio; known and inherent risks in our portfolio; information about specific borrowers’ ability to repay; estimated collateral values; current economic conditions; and other relevant factors determined by management. The ALL consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for certain qualitative factors. The entire ALL balance is available for any loan that, in management’s judgment, should be charged off. A loan is impaired when full payment under the loan terms is not expected. Impaired loans consist of all TDRs, as well as individual loans not considered a TDR, that are either (1) rated substandard or worse, (2) on nonaccrual status or (3) PCI loans which are impaired at the time of acquisition. Substandard loans, as defined by the OCC, our primary banking regulator, are loans that are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. All TDRs are individually evaluated for impairment. See Note 3, “Loans, Allowance for Loan Losses and Impaired Loans” for more information on what we consider to be a TDR. For TDR’s or substandard loans deemed to be impaired, a specific ALL allocation may be established so that the loan is reported, net, at the lower of (a) its outstanding principal balance; (b) the present value of the loan’s estimated future cash flows using the loan’s existing rate; or (c) at the fair value of any loan collateral, less estimated disposal costs, if repayment is expected solely from the underlying collateral of the loan. For TDRs less than 90+ days past due, and certain substandard loans that are less than 90+ days delinquent, the likelihood of the loan migrating to over 90 days past due is also taken into account when determining the specific ALL allocation for these particular loans. Large groups of smaller balance homogeneous loans, such as non-TDR commercial, consumer and residential real estate loans, are collectively evaluated for ALL purposes, and accordingly, are not separately identified for ALL disclosures. |
Acquired Loans | Acquired Loans— Loans acquired in connection with acquisitions are recorded at their acquisition-date fair value with no carryover of related allowance for loan losses. Any allowance for loan loss on these pools reflect only losses incurred after the acquisition (meaning the present value of all cash flows expected at acquisition that no longer are expected to be received). Determining the fair value of the acquired loans involves estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. Management considers a number of factors in evaluating the acquisition-date fair value including: the remaining life of the acquired loans, delinquency status, estimated prepayments, payment options and other loan features, internal risk grade, estimated value of the underlying collateral and interest rate environment. Acquired loans that met the criteria for nonaccrual of interest prior to the acquisition may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of the expected cash flows on such loans and if we expect to fully collect the new carrying value of the loans. As such, we may no longer consider the loan to be nonaccrual or nonperforming and may accrue interest on these loans, including the impact of any accretable yield. Loans acquired with deteriorated credit quality are accounted for in accordance with Accounting Standards Codification (“ASC”) 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (ASC 310-30) if, at acquisition, the loans have evidence of credit quality deterioration since origination and it is probable that all contractually required payments will not be collected. At acquisition, the Company considers several factors as indicators that an acquired loan has evidence of deterioration in credit quality. These factors include, but are not limited to: loans 90 days or more past due, loans with an internal risk grade of substandard or below, loans classified as non-accrual by the acquired institution, and loans that have been previously modified in a troubled debt restructuring. Under the ASC 310-30 model, the excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield and is the interest component of expected cash flow. The accretable discount is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonably estimated (the accretion method). If the timing or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition is used. The difference between the loan’s total scheduled principal and interest payments over all cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which the Company does not expect to collect. Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable discount to be subsequently recognized in interest income on a prospective basis over the loan’s remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, Nonrefundable Fees and Other Costs (ASC 310-20), whereby the premium or discount derived from the fair market value adjustment, on a loan-by-loan or pooled basis, is recognized into interest income on a level yield basis over the remaining expected life of the loan or pool. For all acquired loans, the outstanding loan balances less any related accretable discount and/or non-accretable difference is referred to as the loans’ carrying amount. |
Loans Held for Sale | Loans Held for Sale — Loans held for sale are those loans the Company has the intent to sell in the foreseeable future. They are carried at the lower of aggregate cost or fair value. Gains and losses on sales of loans are recognized at settlement dates, and are determined by the difference between the sales proceeds and the carrying value of the loans after allocating costs to servicing rights retained. Such gains and losses are included in non-interest income in the consolidated statements of operations. All sales are made without recourse. Interest rate lock commitments on mortgage loans to be funded and sold are valued at fair value, and are included in other assets or liabilities, if material. |
Transfers of financial assets | Transfers of financial assets— Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the entity, (2) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets, and (3) the entity does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. |
Mortgage Servicing Rights | Mortgage Servicing Rights— Mortgage servicing rights (“MSR”) assets result as the Company sells loans to investors in the secondary market and retains the rights to service mortgage loans sold to others. MSR assets are initially measured at fair value; assessed for impairment at least annually; carried at the lower of the initial capitalized amount, net of accumulated amortization, or estimated fair value. MSR assets are amortized in proportion to and over the period of estimated net servicing income, with the amortization recorded in non-interest expense in the consolidated statement of operations. The valuation of MSRs and related amortization, included in mortgage servicing rights expense in the consolidated statements of operations, thereon are based on numerous factors, assumptions and judgments, such as those for: changes in the mix of loans, interest rates, prepayment speeds, and default rates. Changes in these factors, assumptions and judgments may have a material effect on the valuation and amortization of MSRs. Although management believes that the assumptions used to evaluate the MSRs for impairment are reasonable, future adjustment may be necessary if future economic conditions differ substantially from the economic assumptions used to determine the value of MSRs. |
Goodwill and other intangible assets | Goodwill and other intangible assets— The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, “Intangibles - Goodwill and Other.” The Company records the excess of the cost of acquired entities over the fair value of identifiable tangible and intangible assets acquired, less liabilities assumed, as goodwill. On a periodic basis, management assesses whether events or changes in circumstances indicate that the carrying amounts of the intangible assets |
Foreclosed and Repossessed Assets, net | Foreclosed and Repossessed Assets, net – Assets acquired through foreclosure or repossession are initially recorded at fair value, less estimated costs to sell, which establishes a new cost basis. If the fair value declines subsequent to foreclosure or repossession, a write-down is recorded through expense. Costs incurred after acquisition are expensed and are included in non-interest expense, other in the consolidated statements of operations. |
Leases | Leases - We determine if an arrangement is a lease at inception. All of our existing leases have been determined to be operating leases under ASC 842. Right-of-use (“ROU”) assets are included in other assets in our consolidated balance sheets. Operating lease liabilities are included in other liabilities in our consolidated balance sheets. Lease expense is included in non-interest expense, occupancy in the consolidated statements of operations. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date, based on the present value of lease payments over the lease term. As none of our existing leases provide an implicit rate, we use our incremental borrowing rate, based on information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease, when it is reasonably certain that we will exercise that option. Lease expense is recognized based on the total contractually required lease payments, over the term of the lease, on a straight-line basis. |
Debt and equity issuance cost | Debt and equity issuance costs—Debt issuance costs, which consist primarily of fees paid to note lenders, are deferred and included in other borrowings in the consolidated balance sheet. Debt issuance costs are amortized over the contractual term of the corresponding debt, as a component of interest expense on other borrowed funds in the consolidated statement of operations. Specific costs associated with the issuance of shares of the Company’s common or preferred stock are netted against proceeds and recorded in stockholders’ equity, as additional paid in capital, on the consolidated balance sheet, in the period of the share issuance. |
Advertising, Marketing and Public Relations Expense | Advertising, Marketing and Public Relations Expense—The Company expenses all advertising, marketing and public relations costs as they are incurred. |
Income Taxes | Income Taxes – The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes.” Under this guidance, deferred taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates that will apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company regularly reviews the carrying amount of its net deferred tax assets to determine if the establishment of a valuation allowance is necessary. If based on the available evidence, it is more likely than not that all or a portion of the Company’s net deferred tax assets will not be realized in future periods, a deferred tax valuation allowance would be established. Consideration is given to various positive and negative factors that could affect the realization of the deferred tax assets. In evaluating this available evidence, management considers, among other things, historical performance, expectations of future earnings, the ability to carry back losses to recoup taxes previously paid, the length of statutory carry forward periods, |
Revenue Recognition | Revenue Recognition - The Company recognizes revenue in the consolidated statements of operations as it is earned and when collectability is reasonably assured. The primary source of revenue is interest income from interest earning assets, which is recognized on the accrual basis of accounting using the effective interest method. The recognition of revenues from interest earning assets is based upon formulas from underlying loan agreements, securities contracts or other similar contracts. Non-interest income is recognized on the accrual basis of accounting as services are provided or as transactions occur. Non-interest income includes fees from deposit accounts, ATM and debit card fees, mortgage banking activities, and other miscellaneous services and transactions. Commission revenue is recognized as of the effective date of the insurance policy or the date the customer is billed, whichever is later. The Company also receives contingent commissions from insurance companies which are based on the overall profitability of their relationship based primarily on the loss experience of the insurance placed by the Company. Contingent commissions from insurance companies are recognized when determinable. Commission revenue is included in other non-interest income in the consolidated statement of operations. |
Earnings Per Share | Earnings Per Share – Basic earnings per common share is net income or loss divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable during the period, consisting of stock options outstanding under the Company’s stock incentive plans that have an exercise price that is less than the Company’s stock price on the reporting date. |
Loss Contingencies | Loss Contingencies— Loss contingencies, including claims and legal actions arising in the normal course of business, are recorded as liabilities when the likelihood of loss is probable and an amount of loss can be reasonably estimated. |
Other Comprehensive Income | Other Comprehensive Income — Accumulated and other comprehensive income or loss is comprised of the unrealized and realized gains and losses on securities available for sale and pension liability adjustments, net of tax, and is shown on the accompanying consolidated statements of other comprehensive income. |
Operating Segments | Operating Segments— While our executive officers monitor the revenue streams of the various banking products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment. |
Reclassifications | Reclassifications – Certain items previously reported were reclassified for consistency with the current presentation. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements— The Financial Accounting Standards Board (FASB) issues Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). This section provides a summary description of recent ASUs that have potentially significant implications (elected or required) within the consolidated financial statements, or that management expects may have a significant impact on financial statements issued in the near future. Recent Accounting Pronouncements—Adopted ASU 2018-13, Fair Value Measurement (Topic 820)— The ASU modifies disclosure requirements on fair value measurements. This ASU removes requirements to disclose, (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and (2) the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. ASU 2018-13 clarifies that, disclosure regarding measurement uncertainty, is intended to communicate information about the uncertainty in measurement, as of the reporting date. ASU 2018-13 adds certain disclosure requirements, including (1) disclosure of changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements, and (2) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company adopted this ASU, in the first quarter of 2020. The amendments on (1) changes in unrealized gains and losses, (2) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and (3) the narrative description of measurement uncertainty, are being applied prospectively. All other amendments have been applied retrospectively for all periods presented. Adoption of this ASU had no material impact on its consolidated financial position or results of operations. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)— The ASU was issued to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement), by providing guidance for determining when the arrangement includes a software license. The amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract, with similar costs to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments. This guidance became effective for the Company beginning in the first quarter of 2020. Adoption of this ASU had no material impact on its consolidated financial statements. ASU 2020-04 and ASU 2021-01, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting-- These ASUs provide optional and temporary relief, in the form of optional expedients and exceptions, for applying GAAP to modifications of contacts, hedging relationships and other transactions affected by reference rate (e.g. LIBOR) reforms. ASU 2020-04 and ASU 2021-01 are effective for the Company immediately and through December 31, 2022. The Company utilizes LIBOR, among other indexes, as a reference rate for underwriting variable rate loans. Reference rate reform has not had, nor does the Company expect it to have, a material effect on the Company’s consolidated balance sheet, operations or cash flows. Recently Issued, But Not Yet Effective Accounting Pronouncements ASU 2016-13; Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments-- The ASU changes accounting for credit losses on loans receivable and debt securities from an incurred loss methodology to an expected credit loss methodology. Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Accordingly, ASU 2016-13 requires the use of forward-looking information to form credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, though the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, ASU 2016-13 amends the accounting for credit losses on debt securities and purchased financial assets with credit deterioration. In November, 2019, the FASB issued ASU-2019-10, which delayed the effective date for ASU 2016-13 for smaller reporting companies, resulting in ASU 2016-13 becoming effective in the first quarter of 2023 for the Company. Earlier adoption is permitted; however, the Company does not currently plan to adopt the ASU early. Management is assessing alternative loss estimation methodologies and the Company’s data and system needs in order to evaluate the impact that adoption of this standard will have on the Company’s financial condition and results of operations. The Company anticipates recording the effect of implementing this ASU through a cumulative-effect adjustment through retained earnings as of the beginning of the reporting period in which the ASU is effective, which will be January 1, 2023. |
Fair Value Measurement | ASC Topic 820-10, “ Fair Value Measurements and Disclosures ” establishes a 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 topic describes three levels of inputs that may be used to measure fair value: Level 1- Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date. Level 2- Significant other 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. Level 3- Significant unobservable inputs that reflect the Company’s assumptions about the factors that market participants would use in pricing an asset or liability. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input within the valuation hierarchy that is significant to the fair value measurement. |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | The amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale and held to maturity as of March 31, 2021 and December 31, 2020, respectively, were as follows: Available for sale securities Amortized Gross Gross Estimated March 31, 2021 U.S. government agency obligations $ 31,474 $ 303 $ 65 $ 31,712 Obligations of states and political subdivisions 140 — — 140 Mortgage-backed securities 71,448 1,009 401 72,056 Corporate debt securities 27,752 446 285 27,913 Corporate asset-based securities 35,664 159 114 35,709 Trust preferred securities 17,298 342 10 17,630 Total available for sale securities $ 183,776 $ 2,259 $ 875 $ 185,160 December 31, 2020 U.S. government agency obligations $ 33,048 $ 387 $ 70 $ 33,365 Obligations of states and political subdivisions 140 — — 140 Mortgage-backed securities 39,454 1,537 — 40,991 Corporate debt securities 17,199 372 109 17,462 Corporate asset-based securities 36,039 104 316 35,827 Trust preferred securities 16,297 189 38 16,448 Total available for sale securities $ 142,177 $ 2,589 $ 533 $ 144,233 |
Schedule of Held-to-Maturity Securities | Held to maturity securities Amortized Gross Gross Estimated March 31, 2021 U.S. government agency obligations $ 3,500 $ — $ 17 $ 3,483 Obligations of states and political subdivisions 4,600 2 9 4,593 Mortgage-backed securities 49,319 200 1,809 47,710 Total held to maturity securities $ 57,419 $ 202 $ 1,835 $ 55,786 December 31, 2020 Obligations of states and political subdivisions $ 600 $ 2 $ — $ 602 Mortgage-backed securities 42,951 265 34 43,182 Total held to maturity securities $ 43,551 $ 267 $ 34 $ 43,784 |
Schedule of Maturity of Securities | The estimated fair value of securities at March 31, 2021 and December 31, 2020, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities on mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Expected maturities may differ from contractual maturities on certain agency and municipal securities due to the call feature. March 31, 2021 December 31, 2020 Available for sale securities Amortized Estimated Amortized Estimated Due in one year or less $ 140 $ 140 $ — $ — Due after one year through five years 4,949 5,207 3,833 4,095 Due after five years through ten years 47,962 48,488 44,405 44,880 Due after ten years 59,277 59,269 54,485 54,267 Total securities with contractual maturities $ 112,328 $ 113,104 $ 102,723 $ 103,242 Mortgage backed securities 71,448 72,056 39,454 40,991 Total available for sale securities $ 183,776 $ 185,160 $ 142,177 $ 144,233 March 31, 2021 December 31, 2020 Held to maturity securities Amortized Estimated Amortized Estimated Due in one year or less $ — $ — $ — $ — Due after one year through five years 4,300 4,300 200 200 Due after five years through ten years 3,800 3,776 400 402 Total securities with contractual maturities 8,100 8,076 600 602 Mortgage backed securities 49,319 47,710 42,951 43,182 Total held to maturity securities $ 57,419 $ 55,786 $ 43,551 $ 43,784 |
Schedule of Available-for-Sale Securities with Unrealized Losses | Securities with unrealized losses at March 31, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: Less than 12 Months 12 Months or More Total Available for sale securities Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2021 U.S. government agency obligations $ — $ — $ 13,088 $ 65 $ 13,088 $ 65 Mortgage backed securities 39,035 401 — — 39,035 401 Corporate debt securities 9,335 203 1,418 82 10,753 285 Corporate asset-based securities 5,947 19 11,829 95 17,776 114 Trust preferred securities 945 10 — — 945 10 Total $ 55,262 $ 633 $ 26,335 $ 242 $ 81,597 $ 875 December 31, 2020 U.S. government agency obligations $ 7,654 $ 17 $ 6,834 $ 53 $ 14,488 $ 70 Corporate debt securities 3,447 27 1,418 82 4,865 109 Corporate asset-based securities — — 24,310 316 24,310 316 Trust preferred securities 5,612 38 — — 5,612 38 Total $ 16,713 $ 82 $ 32,562 $ 451 $ 49,275 $ 533 |
Schedule of Held-to-Maturity Securities with Unrealized Losses | Less than 12 Months 12 Months or More Total Held to maturity securities Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2021 U.S. government agency obligations $ 3,483 $ 17 $ — $ — $ 3,483 $ 17 Obligations of states and political subdivisions 500 9 — — 500 9 Mortgage-backed securities 42,342 1,809 — — 42,342 1,809 Total $ 46,325 $ 1,835 $ — $ — $ 46,325 $ 1,835 December 31, 2020 Mortgage-backed securities $ 16,538 $ 34 $ — $ — $ 16,538 $ 34 Total $ 16,538 $ 34 $ — $ — $ 16,538 $ 34 |
LOANS, ALLOWANCE FOR LOAN LOS_2
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Loans by Risk Rating | Below is a summary of originated and acquired loans by type and risk rating as of March 31, 2021: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 363,758 $ 764 $ 1,081 $ — $ — $ 365,603 Agricultural real estate 36,439 522 1,179 — — 38,140 Multi-family real estate 111,199 304 — — — 111,503 Construction and land development 80,458 — 3,478 — — 83,936 C&I/Agricultural operating: Commercial and industrial 72,355 317 4,021 — — 76,693 Agricultural operating 20,003 1,045 101 — — 21,149 Residential mortgage: Residential mortgage 78,764 — 3,521 — — 82,285 Purchased HELOC loans 5,057 — 234 — — 5,291 Consumer installment: Originated indirect paper 23,024 — 162 — — 23,186 Other consumer 10,906 — 45 — — 10,951 Originated loans before SBA PPP loans 801,963 2,952 13,822 — — 818,737 SBA PPP loans 118,931 — — — — 118,931 Total originated loans $ 920,894 $ 2,952 $ 13,822 $ — $ — $ 937,668 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 135,059 $ 10,494 $ 4,033 $ — $ — $ 149,586 Agricultural real estate 27,041 — 5,386 — — 32,427 Multi-family real estate 7,485 — — — — 7,485 Construction and land development 6,553 204 39 — — 6,796 C&I/Agricultural operating: Commercial and industrial 18,865 9 366 — — 19,240 Agricultural operating 6,754 — 347 — — 7,101 Residential mortgage: Residential mortgage 37,982 — 2,064 — — 40,046 Consumer installment: Other consumer 906 — 7 — — 913 Total acquired loans $ 240,645 $ 10,707 $ 12,242 $ — $ — $ 263,594 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 498,817 $ 11,258 $ 5,114 $ — $ — $ 515,189 Agricultural real estate 63,480 522 6,565 — — 70,567 Multi-family real estate 118,684 304 — — — 118,988 Construction and land development 87,011 204 3,517 — — 90,732 Commercial/Agricultural non-real estate: Commercial and industrial 91,220 326 4,387 — — 95,933 Agricultural operating 26,757 1,045 448 — — 28,250 Residential mortgage: Residential mortgage 116,746 — 5,585 — — 122,331 Purchased HELOC loans 5,057 — 234 — — 5,291 Consumer installment: Originated indirect paper 23,024 — 162 — — 23,186 Other Consumer 11,812 — 52 — — 11,864 Gross loans before SBA PPP Loans 1,042,608 13,659 26,064 — — 1,082,331 SBA PPP loans 118,931 — — — — $ 118,931 Gross loans $ 1,161,539 $ 13,659 $ 26,064 $ — $ — $ 1,201,262 Less: Unearned net deferred fees and costs and loans in process (4,487) Unamortized discount on acquired loans (4,649) Allowance for loan losses (16,860) Loans receivable, net $ 1,175,266 Below is a summary of originated and acquired loans by type and risk rating as of December 31, 2020: 1 to 5 6 7 8 9 TOTAL Originated Loans: Commercial/Agricultural real estate: Commercial real estate $ 349,482 $ 543 $ 1,088 $ — $ — $ 351,113 Agricultural real estate 30,041 446 1,254 — — 31,741 Multi-family real estate 112,423 308 — — — 112,731 Construction and land development 87,763 — 3,478 — — 91,241 C&I/Agricultural operating: Commercial and industrial 91,474 20 3,796 — — 95,290 Agricultural operating 22,462 934 1,061 — — 24,457 Residential mortgage: Residential mortgage 82,097 7 4,179 — — 86,283 Purchased HELOC loans 5,959 — 301 — — 6,260 Consumer installment: Originated indirect paper 25,616 — 235 — — 25,851 Other Consumer 11,986 — 70 — — 12,056 Originated loans before SBA PPP loans 819,303 2,258 15,462 — — 837,023 SBA PPP loans 123,702 — — — — 123,702 Total originated loans $ 943,005 $ 2,258 $ 15,462 $ — $ — $ 960,725 Acquired Loans: Commercial/Agricultural real estate: Commercial real estate $ 148,303 $ 4,274 $ 3,985 $ — $ — $ 156,562 Agricultural real estate 31,147 — 5,907 — — 37,054 Multi-family real estate 9,273 — 148 — — 9,421 Construction and land development 7,237 — 39 — — 7,276 C&I/Agricultural operating: Commercial and industrial 20,918 9 336 — — 21,263 Agricultural operating 7,838 — 490 — — 8,328 Residential mortgage: Residential mortgage 42,805 131 2,167 — — 45,103 Consumer installment: Other Consumer 1,150 — 7 — — 1,157 Total acquired loans $ 268,671 $ 4,414 $ 13,079 $ — $ — $ 286,164 Total Loans: Commercial/Agricultural real estate: Commercial real estate $ 497,785 $ 4,817 $ 5,073 $ — $ — 507,675 Agricultural real estate 61,188 446 7,161 — — 68,795 Multi-family real estate 121,696 308 148 — — 122,152 Construction and land development 95,000 — 3,517 — — 98,517 C&I/Agricultural operating: Commercial and industrial 112,392 29 4,132 — — 116,553 Agricultural operating 30,300 934 1,551 — — 32,785 Residential mortgage: Residential mortgage 124,902 138 6,346 — — 131,386 Purchased HELOC loans 5,959 — 301 — — 6,260 Consumer installment: Originated indirect paper 25,616 — 235 — — 25,851 Other Consumer 13,136 — 77 — — 13,213 Gross loans before SBA PPP loans 1,087,974 6,672 28,541 — — 1,123,187 SBA PPP loans 123,702 — — — — 123,702 Gross loans $ 1,211,676 $ 6,672 $ 28,541 $ — $ — $ 1,246,889 Less: Unearned net deferred fees and costs and loans in process (4,245) Unamortized discount on acquired loans (5,063) Allowance for loan losses (17,043) Loans receivable, net $ 1,220,538 |
Schedule of SBA PPP Loans by Round Activity | The following table summarizes SBA PPP loans by round at March 31, 2021 and December 31, 2020 and includes additional round 2 activity in April 2021: (Dollars in Millions) Balance Net Deferred Fee Income SBA PPP Loans - Round 1 $ 124 $ 3.0 SBA PPP Loans - Round 2 — — Total SBA PPP Loans, December 31, 2020 124 3.0 SBA PPP Loans - Round 1 $ 72 $ 1.3 SBA PPP Loans - Round 2 47 1.7 Total SBA PPP Loans, March 31, 2021 119 3.0 Net deferred fees collected after March 31, 2021 from Q1 SBA PPP loan originations — 0.9 119 3.9 SBA PPP Pipeline Round 2, April 2021 8 0.8 March 31, 2021 plus SBA PPP Pipeline - Round 2, April 2021 $ 127 $ 4.7 |
Schedule of Changes of Impaired Loans and Non-Impaired Loans | Changes in the ALL by loan type for the periods presented below were as follows: Commercial/Agriculture Real Estate C&I/Agricultural operating Residential Mortgage Consumer Installment Unallocated Total Three months ended March 31, 2021 Allowance for Loan Losses: Beginning balance, January 1, 2021 $ 10,271 $ 2,112 $ 1,041 $ 489 $ 906 $ 14,819 Charge-offs — — — (25) — (25) Recoveries 5 8 7 10 — 30 Provision 833 (487) (107) (24) (11) 204 Total Allowance on originated loans 11,109 1,633 941 450 895 15,028 Purchased credit impaired loans — — — — — — Other acquired loans: Beginning balance, January 1, 2021 1,684 141 335 64 — 2,224 Charge-offs (200) — — — — (200) Recoveries — 7 1 4 — 12 Provision (183) (54) 52 (19) — (204) Total Allowance on other acquired loans 1,301 94 388 49 — 1,832 Total Allowance on acquired loans 1,301 94 388 49 — 1,832 Ending balance, March 31, 2021 $ 12,410 $ 1,727 $ 1,329 $ 499 $ 895 $ 16,860 Allowance for Loan Losses at March 31, 2021: Amount of allowance for loan losses arising from loans individually evaluated for impairment $ 1,094 $ 10 $ 157 $ — $ — $ 1,261 Amount of allowance for loan losses arising from loans collectively evaluated for impairment $ 11,316 $ 1,717 $ 1,172 $ 499 $ 895 $ 15,599 Loans Receivable as of March 31, 2021 — Ending balance of originated loans $ 599,182 $ 216,773 $ 87,576 $ 34,137 $ — $ 937,668 Ending balance of purchased credit-impaired loans 14,856 1,367 1,218 — — 17,441 Ending balance of other acquired loans 181,438 24,974 38,828 913 — 246,153 Ending balance of loans $ 795,476 $ 243,114 $ 127,622 $ 35,050 $ — $ 1,201,262 Ending balance: individually evaluated for impairment $ 24,948 $ 6,197 $ 8,843 $ 255 $ — $ 40,243 Ending balance: collectively evaluated for impairment $ 770,528 $ 236,917 $ 118,779 $ 34,795 $ — $ 1,161,019 Commercial/Agriculture Real Estate C&I/Agricultural operating Residential Mortgage Consumer Installment Unallocated Total Three months ended March 31, 2020 Allowance for Loan Losses: Beginning balance, January 1, 2020 $ 6,205 $ 1,643 $ 879 $ 467 $ 357 $ 9,551 Charge-offs — (307) — (49) — (356) Recoveries — — 5 20 — 25 Provision 1,072 323 40 92 103 1,630 Total Allowance on originated loans $ 7,277 $ 1,659 $ 924 $ 530 $ 460 $ 10,850 Purchased credit impaired loans — — — — — — Other acquired loans Beginning balance, January 1, 2020 526 27 163 53 — 769 Charge-offs — (135) (27) (2) — (164) Recoveries — — 8 2 — 10 Provision 139 268 (29) (8) — 370 Total Allowance on other acquired loans 665 160 115 45 — 985 Total Allowance on acquired loans 665 160 115 45 — 985 Ending balance, March 31, 2020 $ 7,942 $ 1,819 $ 1,039 $ 575 $ 460 $ 11,835 Allowance for Loan Losses at March 31, 2020: Amount of allowance for loan losses arising from loans individually evaluated for impairment $ 733 $ 92 $ 181 $ 27 $ — $ 1,033 Amount of allowance for loan losses arising from loans collectively evaluated for impairment $ 7,209 $ 1,727 $ 858 $ 548 $ 460 $ 10,802 Loans Receivable as of March 31, 2020: Ending balance of originated loans $ 519,958 $ 107,949 $ 110,455 $ 51,494 $ — $ 789,856 Ending balance of purchased credit-impaired loans 25,452 3,845 1,934 — — 31,231 Ending balance of other acquired loans 257,059 48,152 61,023 2,104 — 368,338 Ending balance of loans $ 802,469 $ 159,946 $ 173,412 $ 53,598 $ — $ 1,189,425 Ending balance: individually evaluated for impairment $ 36,470 $ 8,759 $ 10,226 $ 496 $ — $ 55,951 Ending balance: collectively evaluated for impairment $ 765,999 $ 151,187 $ 163,186 $ 53,102 $ — $ 1,133,474 Commercial/Agriculture Real Estate C&I/Agricultural operating Residential Mortgage Consumer Installment Unallocated Total Allowance for Loan Losses at December 31, 2020: Amount of allowance for loan losses arising from loans individually evaluated for impairment $ 698 $ 190 $ 226 $ 1 $ — $ 1,115 Amount of allowance for loan losses arising from loans collectively evaluated for impairment $ 11,257 $ 2,063 $ 1,150 $ 552 $ 906 $ 15,928 Loans Receivable as of December 31, 2020: Ending balance of originated loans $ 586,826 $ 243,449 $ 92,543 $ 37,907 $ — $ 960,725 Ending balance of purchased credit-impaired loans 15,100 1,534 1,312 — — 17,946 Ending balance of other acquired loans 195,213 28,057 43,791 1,157 — 268,218 Ending balance of loans $ 797,139 797139000 $ 273,040 $ 137,646 $ 39,064 $ — $ 1,246,889 Ending balance: individually evaluated for impairment $ 26,303 $ 7,115 $ 9,621 $ 358 $ — $ 43,397 Ending balance: collectively evaluated for impairment $ 770,836 $ 265,925 $ 128,025 $ 38,706 $ — $ 1,203,492 |
Schedule of Loans Receivable | Loans receivable by loan type as of the end of the periods shown below were as follows: Commercial/Agriculture Real Estate Loans C&I/Agricultural Operating Residential Mortgage Consumer Installment Totals March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Performing loans Performing TDR loans $ 4,472 $ 4,695 $ 4,042 $ 3,836 $ 3,195 $ 3,142 $ 43 $ 49 $ 11,752 $ 11,722 Performing loans other 785,733 786,533 237,917 266,975 121,746 131,470 34,899 38,856 1,180,295 1,223,834 Total performing loans 790,205 791,228 241,959 270,811 124,941 134,612 34,942 38,905 1,192,047 1,235,556 Nonperforming loans (1) Nonperforming TDR loans 4,184 4,691 758 1,287 742 777 6 — 5,690 6,755 Nonperforming loans other 1,087 1,220 397 942 1,939 2,257 102 159 3,525 4,578 Total nonperforming loans 5,271 5,911 1,155 2,229 2,681 3,034 108 159 9,215 11,333 Total loans $ 795,476 $ 797,139 $ 243,114 $ 273,040 $ 127,622 $ 137,646 $ 35,050 $ 39,064 $ 1,201,262 $ 1,246,889 (1) Nonperforming loans are either 90+ days past due or nonaccrual. |
Schedule of Aging Analysis of the Bank Real Estate and Consumer Loans | An aging analysis of the Company’s commercial/agricultural real estate, C&I, agricultural operating, residential mortgage, consumer installment and purchased third party loans as of March 31, 2021 and December 31, 2020, respectively, was as follows: 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Greater Than 89 Days Past Due and Accruing Total Nonaccrual Loans Total Past Due Accruing and Nonaccrual Loans Current Total March 31, 2021 Commercial/Agricultural real estate: Commercial real estate $ 1,788 $ 1,430 $ — $ 3,218 $ 760 $ 3,978 $ 511,211 $ 515,189 Agricultural real estate 361 — — 361 4,511 4,872 65,695 70,567 Multi-family real estate — — — — — — 118,988 118,988 Construction and land development — 204 — 204 — 204 90,528 90,732 C&I/Agricultural operating: Commercial and industrial 592 145 — 737 391 1,128 94,805 95,933 C&I SBA PPP loans — — — — — — 118,931 118,931 Agricultural operating 2,506 379 — 2,885 764 3,649 24,601 28,250 Residential mortgage: Residential mortgage 1,974 246 514 2,734 1,933 4,667 117,664 122,331 Purchased HELOC loans — — — — 234 234 5,057 5,291 Consumer installment: Originated indirect paper 20 33 — 53 64 117 23,069 23,186 Other Consumer 40 1 22 63 22 85 11,779 11,864 Total $ 7,281 $ 2,438 $ 536 $ 10,255 $ 8,679 $ 18,934 $ 1,182,328 $ 1,201,262 December 31, 2020 Commercial/Agricultural real estate: Commercial real estate $ 9,568 $ 467 $ — $ 10,035 $ 679 $ 10,714 $ 496,961 $ 507,675 Agricultural real estate 411 48 — 459 5,084 5,543 63,252 68,795 Multi-family real estate 308 — — 308 148 456 121,696 122,152 Construction and land development 3,898 — — 3,898 — 3,898 94,619 98,517 C&I/Agricultural operating: Commercial and industrial 436 491 — 927 357 1,284 115,269 116,553 SBA PPP loans — — — — — — 123,702 123,702 Agricultural operating 1,499 200 — 1,699 1,872 3,571 29,214 32,785 Residential mortgage: Residential mortgage 2,238 372 516 3,126 2,217 5,343 126,043 131,386 Purchased HELOC loans 338 94 67 499 234 733 5,527 6,260 Consumer installment: Originated indirect paper 90 37 — 127 133 260 25,591 25,851 Other Consumer 100 14 3 117 23 140 13,073 13,213 Total $ 18,886 $ 1,723 $ 586 $ 21,195 $ 10,747 $ 31,942 $ 1,214,947 $ 1,246,889 |
Schedule of Bank Impaired Loans | A summary of the Company’s impaired loans as of March 31, 2021, December 31, 2020 and March 31, 2020 was as follows: Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2021 With No Related Allowance Recorded: Commercial/agriculture real estate $ 19,714 $ 19,714 $ — $ 21,864 $ 239 C&I/Agricultural operating 6,118 6,118 — 6,226 70 Residential mortgage 8,191 8,191 — 8,367 80 Consumer installment 255 255 — 306 3 Total $ 34,278 $ 34,278 $ — $ 36,763 $ 392 With An Allowance Recorded: Commercial/agriculture real estate $ 5,234 $ 5,234 $ 1,094 $ 3,762 $ 62 C&I/Agricultural operating 79 79 10 430 — Residential mortgage 652 652 157 866 8 Consumer installment — — — 1 — Total $ 5,965 $ 5,965 $ 1,261 $ 5,059 $ 70 March 31, 2021 Totals: Commercial/agriculture real estate $ 24,948 $ 24,948 $ 1,094 $ 25,626 $ 301 C&I/Agricultural operating 6,197 6,197 10 6,656 70 Residential mortgage 8,843 8,843 157 9,233 88 Consumer installment 255 255 — 307 3 Total $ 40,243 $ 40,243 $ 1,261 $ 41,822 $ 462 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2020 With No Related Allowance Recorded: Commercial/agriculture real estate $ 24,013 $ 24,013 $ — $ 32,264 $ 1,894 C&I/Agricultural operating 6,334 6,334 — 7,906 284 Residential mortgage 8,542 8,542 — 8,619 450 Consumer installment 356 356 — 368 30 Total $ 39,245 $ 39,245 $ — $ 49,157 $ 2,658 With An Allowance Recorded: Commercial/agriculture real estate $ 2,290 $ 2,290 $ 698 $ 2,217 $ 100 C&I/Agricultural operating 781 781 190 636 22 Residential mortgage 1,079 1,079 226 1,255 54 Consumer installment 2 2 1 35 1 Total $ 4,152 $ 4,152 $ 1,115 $ 4,143 $ 177 December 31, 2020 Totals Commercial/agriculture real estate $ 26,303 $ 26,303 $ 698 $ 34,481 $ 1,994 C&I/Agricultural operating 7,115 7,115 190 8,542 306 Residential mortgage 9,621 9,621 226 9,874 504 Consumer installment 358 358 1 403 31 Total $ 43,397 $ 43,397 $ 1,115 $ 53,300 $ 2,835 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized March 31, 2020 With No Related Allowance Recorded: Commercial/agriculture real estate $ 33,959 $ 33,959 $ — $ 37,237 $ 563 C&I/Agricultural operating 8,343 8,343 — 8,910 119 Residential mortgage 7,966 7,966 — 8,330 116 Consumer installment 397 397 — 388 8 Total $ 50,665 $ 50,665 $ — $ 54,865 $ 806 With An Allowance Recorded: Commercial/agriculture real estate $ 2,511 $ 2,511 $ 733 $ 2,327 $ 6 C&I/Agricultural operating 416 416 92 453 5 Residential mortgage 2,260 2,260 181 1,846 30 Consumer installment 99 99 27 83 1 Total $ 5,286 $ 5,286 $ 1,033 $ 4,709 $ 42 March 31, 2020 Totals: Commercial/agriculture real estate $ 36,470 $ 36,470 $ 733 $ 39,564 $ 569 C&I/Agricultural operating 8,759 8,759 92 9,363 124 Residential mortgage 10,226 10,226 181 10,176 146 Consumer installment 496 496 27 471 9 Total $ 55,951 $ 55,951 $ 1,033 $ 59,574 $ 848 |
Schedule of Troubled Debt Restructuring | Following is a summary of TDR loans by accrual status as of March 31, 2021 and December 31, 2020. March 31, 2021 December 31, 2020 Troubled debt restructure loans: Accrual status $ 11,752 $ 11,742 Non-accrual status 5,690 6,735 Total $ 17,442 $ 18,477 The following provides detail, including specific reserve and reasons for modification, related to loans identified as TDRs during the three months ended March 31, 2021 and March 31, 2020: Number of Contracts Maturity Extension Modified Payment Modified Under- writing Other Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve Three months ended March 31, 2021 TDRs: Commercial/agriculture real estate 2 $ 38 $ 81 $ — $ — $ 119 $ 119 $ — C&I/Agricultural operating 1 — — 240 — 240 240 — Residential mortgage 2 66 — 14 — 80 80 — Consumer installment 1 6 — — — 6 6 — Totals 6 $ 110 $ 81 $ 254 $ — $ 445 $ 445 $ — Number of Contracts Maturity Extension Modified Payment Modified Under- writing Other Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve Three months ended March 31, 2020 TDRs: Commercial/agriculture real estate 3 $ 248 $ — $ 17 $ — $ 265 $ 265 $ — C&I/Agricultural operating — — — — — — — — Residential mortgage 1 — — 85 — 85 85 — Consumer installment 2 3 — 4 — 7 7 — Totals 6 $ 251 $ — $ 106 $ — $ 357 $ 357 $ — A summary of loans by loan segment modified in a troubled debt restructuring as of March 31, 2021 and March 31, 2020, was as follows: March 31, 2021 March 31, 2020 Number of Recorded Number of Recorded Troubled debt restructurings: Commercial/agriculture real estate 30 $ 8,656 28 $ 6,415 C&I/Agricultural operating 14 4,800 14 2,065 Residential mortgage 52 3,937 42 3,539 Consumer installment 9 49 8 69 Total troubled debt restructurings 105 $ 17,442 92 $ 12,088 The following table provides the number of loans modified in a TDR during the previous twelve months which subsequently defaulted during the three months ended March 31, 2021 and March 31, 2020, as well as the recorded investment in these restructured loans as of March 31, 2021 and March 31, 2020: March 31, 2021 March 31, 2020 Number of Recorded Number of Recorded Troubled debt restructurings: Commercial/agriculture real estate — $ — 5 $ 1,892 C&I/Agricultural operating — — — — Residential mortgage 1 19 — — Consumer installment — — — — Total troubled debt restructurings 1 $ 19 5 $ 1,892 |
Schedule of Acquired Loans | The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: March 31, 2021 December 31, 2020 Accountable for under ASC 310-30 (Purchased Credit Impaired “PCI” loans) Outstanding balance $ 17,441 $ 17,946 Carrying amount $ 16,475 $ 16,859 Accountable for under ASC 310-20 (non-PCI loans) Outstanding balance $ 246,153 $ 268,218 Carrying amount $ 242,470 $ 264,242 Total acquired loans Outstanding balance $ 263,594 $ 286,164 Carrying amount $ 258,945 $ 281,101 |
Schedule of Accretable Yield | The following table provides changes in accretable yield for all acquired loans from prior acquisitions with deteriorated credit quality: March 31, 2021 March 31, 2020 Balance at beginning of period $ 3,976 $ 3,201 Acquisitions — — Reduction due to unexpected early payoffs (90) — Reclass from non-accretable difference 63 669 Accretion (266) (233) Balance at end of period $ 3,683 $ 3,637 |
Schedule of Non-Accretable Yield | The following table provides changes in non-accretable yield for all acquired loans from prior acquisitions with deteriorated credit quality: March 31, 2021 December 31, 2020 Balance at beginning of period $ 1,087 $ 6,290 Additions to non-accretable difference for acquired purchased credit impaired loans — — Non-accretable difference realized as interest from payoffs of purchased credit impaired loans (58) (1,693) Transfers from non-accretable difference to accretable discount (63) (2,754) Non-accretable difference used to reduce loan principal balance — (505) Non-accretable difference transferred to OREO due to loan foreclosure — (251) Balance at end of period $ 966 $ 1,087 |
MORTGAGE SERVICING RIGHTS (Tabl
MORTGAGE SERVICING RIGHTS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Mortgage Servicing Rights Activity | Mortgage servicing rights activity for the three month period ended March 31, 2021 and twelve months ended December 31, 2020 were as follows: As of and for the Three Months Ended As of and for the Twelve Months Ended Mortgage servicing rights: March 31, 2021 December 31, 2020 Mortgage servicing rights, beginning of period $ 5,266 $ 4,541 Increase in mortgage servicing rights resulting from transfers of financial assets 297 2,020 Amortization during the period (439) (1,295) 5,124 5,266 Valuation allowance: Valuation allowance, beginning of period (2,014) (259) Additions — (1,755) Recoveries 889 — Valuation allowance, end of period (1,125) (2,014) Mortgage servicing rights, net $ 3,999 $ 3,252 Fair value of mortgage servicing rights; end of period $ 4,005 $ 3,285 Residential mortgage loans serviced for others $ 551,622 $ 553,655 Net book value of mortgage servicing rights to loans serviced for others 0.73 % 0.59 % |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Schedule of Components of Lease Expense | Three Months Ended March 31, 2021 March 31, 2020 The components of total lease cost were as follows: Operating lease cost $ 139 $ 161 Variable lease cost 7 2 Total lease cost $ 146 $ 163 The components of total lease income were as follows: Operating lease income $ 7 $ 3 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 138 $ 159 March 31, 2021 December 31, 2020 Supplemental balance sheet information related to leases was as follows: Operating lease right-of-use assets $ 2,539 $ 2,657 Operating lease liabilities $ 2,606 $ 2,762 Weighted average remaining lease term in years; operating leases 6.18 6.32 Weighted average discount rate; operating leases 2.7 % 2.7 % |
Schedule of Maturities of Operating Lease Liabilities | Cash obligations and receipts under lease contracts are as follows: Fiscal years ending December 31, Payments Receipts 2021 $ 415 $ 25 2022 558 34 2023 505 27 2024 419 2025 403 Thereafter 826 Total 3,126 $ 86 Less: effects of discounting (520) Lease liability recognized $ 2,606 |
DEPOSITS (Tables)
DEPOSITS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Deposits [Abstract] | |
Schedule of Deposits by Type | The following is a summary of deposits by type at March 31, 2021 and December 31, 2020, respectively: March 31, 2021 December 31, 2020 Non-interest bearing demand deposits $ 257,042 $ 238,348 Interest bearing demand deposits 352,302 301,764 Savings accounts 222,448 196,348 Money market accounts 258,942 245,549 Certificate accounts 289,468 313,247 Total deposits $ 1,380,202 $ 1,295,256 Brokered deposits included above: $ 2,516 $ 2,516 |
Schedule of Maturities of Time Deposits | At March 31, 2021, the scheduled maturities of time deposits were as follows: March 31, 2022 $ 217,364 March 31, 2023 61,638 March 31, 2024 6,975 March 31, 2025 2,814 March 31, 2026 677 After March 31, 2026 — Total $ 289,468 |
FEDERAL HOME LOAN BANK AND FE_2
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES AND OTHER BORROWINGS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Federal Home Loan Banks [Abstract] | |
Schedule of Federal Home Loan Bank Advances | A summary of Federal Home Loan Bank advances and other borrowings at March 31, 2021 and December 31, 2020 is as follows: March 31, 2021 December 31, 2020 Stated Maturity Amount Range of Stated Rates Amount Range of Stated Rates Federal Home Loan Bank advances (1), (2), (3), (4) 2021 $ 4,000 — % — % $ 8,000 — % 2.16 % 2022 11,000 2.45 % 2.45 % 15,000 2.34 % 2.45 % 2023 20,000 1.43 % 1.44 % 20,000 1.43 % 1.44 % 2024 20,530 — % 1.45 % 20,530 — % 1.45 % 2025 5,000 1.45 % 1.45 % 5,000 1.45 % 1.45 % 2029 42,500 1.00 % 1.13 % 42,500 1.00 % 1.13 % 2030 12,500 0.52 % 0.86 % 12,500 0.52 % 0.86 % Subtotal 115,530 123,530 Unamortized discount on acquired notes (49) (32) Federal Home Loan Bank advances, net $ 115,481 $ 123,498 Senior Notes (5) 2031 $ 28,856 3.50 % 3.50 % $ 28,856 3.25 % 3.50 % Subordinated Notes (6) 2027 $ 15,000 6.75 % 6.75 % $ 15,000 6.75 % 6.75 % 2030 15,000 6.00 % 6.00 % 15,000 6.00 % 6.00 % $ 30,000 $ 30,000 Unamortized debt issuance costs $ (502) $ (528) Total other borrowings $ 58,354 $ 58,328 Totals $ 173,835 $ 181,826 (1) The FHLB advances bear fixed rates, require interest-only monthly payments, and are collateralized by a blanket lien on pre-qualifying first mortgages, home equity lines, multi-family loans and certain other loans which had a pledged balance of $720,008 and $723,862 at March 31, 2021 and December 31, 2020, respectively. At March 31, 2021, the Bank’s available and unused portion under the FHLB borrowing arrangement was approximately $122,791 compared to $118,391 as of December 31, 2020. (2) Maximum month-end borrowed amounts outstanding under this borrowing agreement were $123,530 and $162,530, during the three months ended March 31, 2021 and the twelve months ended December 31, 2020, respectively. (3) The weighted-average interest rates on FHLB borrowings maturing within twelve months as of March 31, 2021 and December 31, 2020 were 1.80% and 0.50%, respectively. (4) FHLB term notes totaling $55,000, with various maturity dates in 2029 and 2030, can be called or replaced by the FHLB on a quarterly basis, beginning approximately three months after the initial advance. (5) Senior notes, entered into by the Company in June 2019 consist of the following: (a) A term note, which was subsequently refinanced in October 2020, requiring quarterly interest-only payments through June 2022, and quarterly principal and interest payments thereafter. Interest is variable, based on US Prime rate with a floor rate of 3.25%. (b) A $5,000 line of credit, maturing in August 2021, that remains undrawn upon. (6) Subordinated notes resulted from the following: (a) The Company’s private sale in August 2017, which bears a fixed interest rate of 6.75% for five years. In August 2022, they convert to a three-month LIBOR plus 4.90% rate, and the interest rate will reset quarterly thereafter. Interest-only payments are due quarterly. (b) The Company’s Subordinated Note Purchase Agreement entered into with certain purchasers in August 2020, which bears a fixed interest rate of 6.00% for five years. In September 2025, the fixed interest rate will be reset quarterly to equal the three-month term Secured Overnight Financing Rate plus 591 basis points. Interest-only payments are due semi-annually each year during the fixed interest period and quarterly during the floating interest period. |
CAPITAL MATTERS (Tables)
CAPITAL MATTERS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Bank’s Tier 1 (Leverage) and Risk-Based Capital Ratios | The Bank’s Tier 1 (leverage) and risk-based capital ratios at March 31, 2021 and December 31, 2020, respectively, are presented below: Actual For Capital Adequacy To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio As of March 31, 2021 Total capital (to risk weighted assets) $ 174,424 15.5 % $ 89,877 > = 8.0 % $ 112,347 > = 10.0 % Tier 1 capital (to risk weighted assets) 160,344 14.3 % $ 67,408 > = 6.0 % 89,877 > = 8.0 % Common equity tier 1 capital (to risk weighted assets) 160,344 14.3 % $ 50,556 > = 4.5 % 73,025 > = 6.5 % Tier 1 leverage ratio (to adjusted total assets) 160,344 9.8 % 65,595 > = 4.0 % 81,993 > = 5.0 % As of December 31, 2020 Total capital (to risk weighted assets) $ 171,702 14.7 % $ 93,381 > = 8.0 % $ 116,726 > = 10.0 % Tier 1 capital (to risk weighted assets) 157,081 13.5 % 70,035 > = 6.0 % 93,381 > = 8.0 % Common equity tier 1 capital (to risk weighted assets) 157,081 13.5 % 52,527 > = 4.5 % 75,872 > = 6.5 % Tier 1 leverage ratio (to adjusted total assets) 157,081 9.9 % 63,718 > = 4.0 % 79,647 > = 5.0 % The Company’s Tier 1 (leverage) and risk-based capital ratios at March 31, 2021 and December 31, 2020, respectively, are presented below: Actual For Capital Adequacy Amount Ratio Amount Ratio As of March 31, 2021 Total capital (to risk weighted assets) $ 167,145 14.9 % 89,877 > = 8.0 % Tier 1 capital (to risk weighted assets) 123,065 11.0 % 67,408 > = 6.0 % Common equity tier 1 capital (to risk weighted assets) 123,065 11.0 % 50,556 > = 4.5 % Tier 1 leverage ratio (to adjusted total assets) 123,065 7.5 % 65,595 > = 4.0 % As of December 31, 2020 Total capital (to risk weighted assets) $ 166,703 14.3 % $ 93,381 > = 8.0 % Tier 1 capital (to risk weighted assets) 122,082 10.5 % 70,035 > = 6.0 % Common equity tier 1 capital (to risk weighted assets) 122,082 10.5 % 52,527 > = 4.5 % Tier 1 leverage ratio (to adjusted total assets) 122,082 7.7 % 63,718 > = 4.0 % |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Restricted Stock Awards | March 31, 2021 December 31, 2020 Number of Shares Weighted Number of Shares Weighted Restricted Shares Unvested and outstanding at beginning of year 57,242 $ 12.23 43,457 $ 12.76 Granted 64,399 10.78 45,507 11.79 Vested (11,413) 12.40 (31,722) 12.32 Forfeited (1,500) 10.78 — — Unvested and outstanding at end of year 108,728 $ 11.37 57,242 $ 12.23 |
Schedule of Stock Option Activity | Option Shares Weighted Weighted Aggregate March, 31, 2021 Outstanding at beginning of year 72,300 $ 11.05 Exercised — — Forfeited or expired (600) 13.76 Outstanding at end of year 71,700 $ 11.02 5.23 Exercisable at end of year 57,100 $ 10.69 5.06 $ 98 Fully vested and expected to vest 71,700 $ 11.02 5.23 $ 99 December 31, 2020 Outstanding at beginning of year 78,100 $ 11.18 Exercised — — Forfeited or expired (5,800) 11.95 Outstanding at end of year 72,300 $ 11.05 5.49 Exercisable at end of year 54,100 $ 10.82 5.37 $ 4 Fully vested and expected to vest 72,300 $ 11.05 5.49 $ — |
Schedule of Information related to Stock Option Plan | Information related to the 2008 Equity Incentive Plan for the respective periods follows: Three months ended March 31, 2021 Twelve months ended December 31, 2020 Intrinsic value of options exercised $ — $ — Cash received from options exercised $ — $ — Tax benefit realized from options exercised $ — $ — |
FAIR VALUE ACCOUNTING (Tables)
FAIR VALUE ACCOUNTING (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets Measured on Recurring Basis | The following tables present the financial instruments measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020: Fair Quoted Prices in Significant Significant March 31, 2021 Investment securities: U.S. government agency obligations $ 31,712 $ — $ 31,712 $ — Obligations of states and political subdivisions 140 — 140 — Mortgage-backed securities 72,056 — 72,056 — Corporate debt securities 27,913 — 27,913 — Corporate asset-backed securities 35,709 — 35,709 — Trust preferred securities 17,630 — 17,630 — Total $ 185,160 $ — $ 185,160 $ — December 31, 2020 Investment securities: U.S. government agency obligations $ 33,365 $ — $ 33,365 $ — Obligations of states and political subdivisions 140 — 140 — Mortgage-backed securities 40,991 — 40,991 — Corporate debt securities 17,462 — 17,462 — Corporate asset backed securities 35,827 — 35,827 — Trust preferred securities 16,448 — 16,448 — Total $ 144,233 $ — $ 144,233 $ — |
Schedule of Assets Measured on Nonrecurring Basis | The following tables present the financial instruments measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020: Carrying Value Quoted Prices in Significant Significant March 31, 2021 Foreclosed and repossessed assets, net $ 85 $ — $ — $ 85 Impaired loans with allocated allowances 4,704 — — 4,704 Mortgage servicing rights 3,999 — — 4,005 Total $ 8,788 $ — $ — $ 8,794 December 31, 2020 Foreclosed and repossessed assets, net $ 197 $ — $ — $ 197 Impaired loans with allocated allowances 3,037 — — 3,037 Mortgage servicing rights 3,252 — — 3,285 Total $ 6,486 $ — $ — $ 6,519 |
Schedule of Fair Value of Assets | The following table represents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine their fair value at March 31, 2021. Fair Valuation Techniques (1) Significant Unobservable Inputs (2) Range March 31, 2021 Foreclosed and repossessed assets, net $ 85 Appraisal value Estimated costs to sell 10% - 15% Impaired loans with allocated allowances $ 4,704 Appraisal value Estimated costs to sell 10% - 15% Mortgage servicing rights $ 4,005 Discounted cash flows Discounted rates 9% - 12% December 31, 2020 Foreclosed and repossessed assets, net $ 197 Appraisal value Estimated costs to sell 10% - 15% Impaired loans with allocated allowances $ 3,037 Appraisal value Estimated costs to sell 10% - 15% Mortgage servicing rights $ 3,285 Discounted cash flows Discounted rates 9% - 12% (1) Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various level 3 inputs which are not observable. (2) The fair value basis of impaired loans and real estate owned may be adjusted to reflect management estimates of disposal costs including, but not limited to, real estate brokerage commissions, legal fees, and delinquent property taxes. |
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments | The carrying amount and estimated fair value of the Company’s financial instruments as of the dates indicated below were as follows: March 31, 2021 December 31, 2020 Valuation Method Used Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents (Level I) $ 196,039 $ 196,039 $ 119,440 $ 119,440 Other interest-bearing deposits (Level II) 2,016 2,062 3,752 3,818 Securities available for sale “AFS” (Level II) 185,160 185,160 144,233 144,233 Securities held to maturity “HTM” (Level II) 57,419 55,786 43,551 43,784 Equity securities with readily determinable fair value (Level I) 297 297 200 200 Other investments (Level II) 15,069 15,069 14,948 14,948 Loans receivable, net (Level III) 1,175,266 1,198,049 1,220,538 1,239,692 Loans held for sale (Level II) 2,267 2,267 3,075 3,075 Mortgage servicing rights (Level III) 3,999 4,005 3,252 3,285 Accrued interest receivable (Level 1) 5,464 5,464 5,652 5,652 Financial liabilities: Deposits (Level III) $ 1,380,202 $ 1,360,333 $ 1,295,256 $ 1,292,104 FHLB advances (Level II) 115,481 118,996 123,498 128,282 Other borrowings (Level I) 58,354 58,354 58,328 58,328 Accrued interest payable (Level I) 603 603 796 796 |
OTHER COMPREHENSIVE INCOME (L_2
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Schedule of Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) | The following tables show the tax effects allocated to each component of other comprehensive loss for the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 March 31, 2020 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Unrealized gains on securities: Net unrealized losses arising during the period $ (672) $ 186 $ (486) $ (1,643) $ 452 $ (1,191) Reclassification adjustment for gains included in net income — — — 73 (20) 53 Other comprehensive loss $ (672) $ 186 $ (486) $ (1,570) $ 432 $ (1,138) |
Schedule of Changes in Accumulated Balances for Each Component of Other Comprehensive Income (Loss) | The changes in the accumulated balances for each component of other comprehensive income (loss), net of tax for the twelve months ended December 31, 2020 and the three months ended March 31, 2021 were as follows: Unrealized Other Accumulated Beginning Balance, January 1, 2020 $ (649) $ (471) Current year-to-date other comprehensive income 2,705 1,961 Ending balance, December 31, 2020 $ 2,056 $ 1,490 Current year-to-date other comprehensive loss (672) (486) Ending balance, March 31, 2021 $ 1,384 $ 1,004 |
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss) | Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2021 were as follows: Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Income (Loss) Components Three months ended March 31, 2021 (1) Affected Line Item on the Statement of Operations Unrealized gains and losses Sale of securities $ — Net gains on investment securities Tax Effect — Provision for income taxes Total reclassifications for the period $ — Net gain attributable to common shareholders (1) Amounts in parentheses indicate decreases to income/loss. Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2020 were as follows: Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Income (Loss) Components Three months ended March 31, 2020 (1) Affected Line Item on the Statement of Operations Unrealized gains and losses Sale of securities $ 73 Net gains on investment securities Tax Effect (20) Provision for income taxes Total reclassifications for the period $ 53 Net gain attributable to common shareholders (1) Amounts in parentheses indicate decreases to profit/loss. |
NATURE OF BUSINESS AND SUMMAR_3
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2021USD ($) | Mar. 31, 2021USD ($)branch | Mar. 31, 2021USD ($)operating_segment | Mar. 31, 2021USD ($)reporting_unit | Mar. 31, 2021USD ($)segment | Dec. 31, 2020USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other investments | $ 15,069 | $ 15,069 | $ 15,069 | $ 15,069 | $ 15,069 | $ 14,948 |
Loans charged off past due more than days | 180 days | |||||
Closed end loan charged off past due more than days | 120 days | |||||
Number of operating segments | 1 | 1 | ||||
Number of reporting units | reporting_unit | 1 | |||||
FHLB | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other investments | $ 8,041 | 8,041 | $ 8,041 | $ 8,041 | $ 8,041 | 8,103 |
Federal Reserve Bank | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other investments | 5,181 | 5,181 | 5,181 | 5,181 | 5,181 | 5,170 |
Bankers Bank Stock | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Other investments | $ 1,847 | $ 1,847 | $ 1,847 | $ 1,847 | $ 1,847 | $ 1,675 |
Commercial Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Interest income discontinued over delinquent days | 90 days | |||||
Closed End Consumer Loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Interest income discontinued over delinquent days | 120 days | |||||
Real Estate and Open Ended Consumer Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Interest income discontinued over delinquent days | 180 days | |||||
Wisconsin and Minnesota | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of branch locations | branch | 25 |
INVESTMENT SECURITIES - Availab
INVESTMENT SECURITIES - Available-for-Sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | $ 183,776 | $ 142,177 |
Gross Unrealized Gains | 2,259 | 2,589 |
Gross Unrealized Losses | 875 | 533 |
Estimated Fair Value | 185,160 | 144,233 |
U.S. government agency obligations | ||
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | 31,474 | 33,048 |
Gross Unrealized Gains | 303 | 387 |
Gross Unrealized Losses | 65 | 70 |
Estimated Fair Value | 31,712 | 33,365 |
Obligations of states and political subdivisions | ||
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | 140 | 140 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 140 | 140 |
Mortgage-backed securities | ||
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | 71,448 | 39,454 |
Gross Unrealized Gains | 1,009 | 1,537 |
Gross Unrealized Losses | 401 | 0 |
Estimated Fair Value | 72,056 | 40,991 |
Corporate debt securities | ||
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | 27,752 | 17,199 |
Gross Unrealized Gains | 446 | 372 |
Gross Unrealized Losses | 285 | 109 |
Estimated Fair Value | 27,913 | 17,462 |
Corporate asset-based securities | ||
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | 35,664 | 36,039 |
Gross Unrealized Gains | 159 | 104 |
Gross Unrealized Losses | 114 | 316 |
Estimated Fair Value | 35,709 | 35,827 |
Trust preferred securities | ||
Summary of amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale | ||
Amortized Cost | 17,298 | 16,297 |
Gross Unrealized Gains | 342 | 189 |
Gross Unrealized Losses | 10 | 38 |
Estimated Fair Value | $ 17,630 | $ 16,448 |
INVESTMENT SECURITIES - Held-to
INVESTMENT SECURITIES - Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 57,419 | $ 43,551 |
Gross Unrealized Gains | 202 | 267 |
Gross Unrealized Losses | 1,835 | 34 |
Estimated Fair Value | 55,786 | 43,784 |
U.S. government agency obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 3,500 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 17 | |
Estimated Fair Value | 3,483 | |
Obligations of states and political subdivisions | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 4,600 | 600 |
Gross Unrealized Gains | 2 | 2 |
Gross Unrealized Losses | 9 | 0 |
Estimated Fair Value | 4,593 | 602 |
Mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 49,319 | 42,951 |
Gross Unrealized Gains | 200 | 265 |
Gross Unrealized Losses | 1,809 | 34 |
Estimated Fair Value | $ 47,710 | $ 43,182 |
INVESTMENT SECURITIES - Narrati
INVESTMENT SECURITIES - Narrative (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Debt Securities, Available-for-sale [Line Items] | |||
Gross sales of available-for-sale securities | $ 0 | $ 10,841,000 | |
Gross gains on sale of available-for-sale securities | 157,000 | ||
Gross losses on sale of available-for-sale securities | $ 1,000 | ||
Federal Reserve Bank | |||
Debt Securities, Available-for-sale [Line Items] | |||
Borrowings outstanding under line of credit facility | 0 | $ 0 | |
U.S. government agency obligations | Asset Pledged as Collateral | Specific Municipal Deposits | |||
Debt Securities, Available-for-sale [Line Items] | |||
Securities pledged as collateral | 548,000 | 576,000 | |
Mortgage-backed securities | MPF Credit Enhancement Fee | |||
Debt Securities, Available-for-sale [Line Items] | |||
Securities pledged as collateral | 402,000 | 468,000 | |
Mortgage-backed securities | Asset Pledged as Collateral | Specific Municipal Deposits | |||
Debt Securities, Available-for-sale [Line Items] | |||
Securities pledged as collateral | 2,655,000 | 3,028,000 | |
Mortgage-backed securities | Asset Pledged as Collateral | Federal Reserve Bank | |||
Debt Securities, Available-for-sale [Line Items] | |||
Securities pledged as collateral | $ 1,121,000 | $ 1,209,000 |
INVESTMENT SECURITIES - Maturit
INVESTMENT SECURITIES - Maturity of Available-for-Sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 140 | $ 0 |
Due after one year through five years | 4,949 | 3,833 |
Due after five years through ten years | 47,962 | 44,405 |
Due after ten years | 59,277 | 54,485 |
Total securities with contractual maturities | 112,328 | 102,723 |
Amortized Cost | 183,776 | 142,177 |
Estimated Fair Value | ||
Due in one year or less | 140 | 0 |
Due after one year through five years | 5,207 | 4,095 |
Due after five years through ten years | 48,488 | 44,880 |
Due after ten years | 59,269 | 54,267 |
Total securities with contractual maturities | 113,104 | 103,242 |
Total available for sale securities | 185,160 | 144,233 |
Mortgage backed securities | ||
Amortized Cost | ||
Mortgage backed securities | 71,448 | 39,454 |
Estimated Fair Value | ||
Mortgage backed securities | $ 72,056 | $ 40,991 |
INVESTMENT SECURITIES - Matur_2
INVESTMENT SECURITIES - Maturity of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 0 | $ 0 |
Due after one year through five years | 4,300 | 200 |
Due after five years through ten years | 3,800 | 400 |
Total securities with contractual maturities | 8,100 | 600 |
Mortgage backed securities | 49,319 | 42,951 |
Total held to maturity securities | 57,419 | 43,551 |
Estimated Fair Value | ||
Due in one year or less | 0 | 0 |
Due after one year through five years | 4,300 | 200 |
Due after five years through ten years | 3,776 | 402 |
Total securities with contractual maturities | 8,076 | 602 |
Mortgage backed securities | 47,710 | 43,182 |
Total held to maturity securities | $ 55,786 | $ 43,784 |
INVESTMENT SECURITIES - Investm
INVESTMENT SECURITIES - Investment Category of Available-for-Sale Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value | ||
Less than 12 Months | $ 55,262 | $ 16,713 |
12 Months or More | 26,335 | 32,562 |
Total | 81,597 | 49,275 |
Unrealized Loss | ||
Less than 12 Months | 633 | 82 |
12 Months or More | 242 | 451 |
Total | 875 | 533 |
U.S. government agency obligations | ||
Fair Value | ||
Less than 12 Months | 0 | 7,654 |
12 Months or More | 13,088 | 6,834 |
Total | 13,088 | 14,488 |
Unrealized Loss | ||
Less than 12 Months | 0 | 17 |
12 Months or More | 65 | 53 |
Total | 65 | 70 |
Mortgage-backed securities | ||
Fair Value | ||
Less than 12 Months | 39,035 | |
12 Months or More | 0 | |
Total | 39,035 | |
Unrealized Loss | ||
Less than 12 Months | 401 | |
12 Months or More | 0 | |
Total | 401 | |
Corporate debt securities | ||
Fair Value | ||
Less than 12 Months | 9,335 | 3,447 |
12 Months or More | 1,418 | 1,418 |
Total | 10,753 | 4,865 |
Unrealized Loss | ||
Less than 12 Months | 203 | 27 |
12 Months or More | 82 | 82 |
Total | 285 | 109 |
Corporate asset-based securities | ||
Fair Value | ||
Less than 12 Months | 5,947 | 0 |
12 Months or More | 11,829 | 24,310 |
Total | 17,776 | 24,310 |
Unrealized Loss | ||
Less than 12 Months | 19 | 0 |
12 Months or More | 95 | 316 |
Total | 114 | 316 |
Trust preferred securities | ||
Fair Value | ||
Less than 12 Months | 945 | 5,612 |
12 Months or More | 0 | 0 |
Total | 945 | 5,612 |
Unrealized Loss | ||
Less than 12 Months | 10 | 38 |
12 Months or More | 0 | 0 |
Total | $ 10 | $ 38 |
INVESTMENT SECURITIES - Inves_2
INVESTMENT SECURITIES - Investment Category of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value | ||
Less than 12 Months | $ 46,325 | $ 16,538 |
12 Months or More | 0 | 0 |
Total | 46,325 | 16,538 |
Unrealized Loss | ||
Less than 12 Months | 1,835 | 34 |
12 Months or More | 0 | 0 |
Total | 1,835 | 34 |
U.S. government agency obligations | ||
Fair Value | ||
Less than 12 Months | 3,483 | |
12 Months or More | 0 | |
Total | 3,483 | |
Unrealized Loss | ||
Less than 12 Months | 17 | |
12 Months or More | 0 | |
Total | 17 | |
Obligations of states and political subdivisions | ||
Fair Value | ||
Less than 12 Months | 500 | |
12 Months or More | 0 | |
Total | 500 | |
Unrealized Loss | ||
Less than 12 Months | 9 | |
12 Months or More | 0 | |
Total | 9 | |
Mortgage-backed securities | ||
Fair Value | ||
Less than 12 Months | 42,342 | 16,538 |
12 Months or More | 0 | 0 |
Total | 42,342 | 16,538 |
Unrealized Loss | ||
Less than 12 Months | 1,809 | 34 |
12 Months or More | 0 | 0 |
Total | $ 1,809 | $ 34 |
LOANS, ALLOWANCE FOR LOAN LOS_3
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Narrative (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021USD ($)contractTDR | Mar. 31, 2020USD ($)contract | Jun. 30, 2020TDR | Dec. 31, 2020USD ($)TDR | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Unused commitments | $ 209,511 | $ 247,324 | ||
Impaired financing receivable, recorded investment | 40,243 | $ 55,951 | 43,397 | |
Recorded Investment | $ 17,442 | $ 18,477 | ||
Number of delinquent TDR | TDR | 1 | 1 | ||
Recorded investment in delinquent TDR | $ 17 | $ 20 | ||
Number of Contracts | 6 | 6 | 0 | |
Outstanding balance | $ 42 | 15 | ||
TDR Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 17,442 | 18,477 | ||
Substandard non-TDR loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 6,326 | 8,061 | ||
Acquired Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 16,475 | 16,859 | ||
Originated Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | $ 17,442 | $ 12,088 | ||
Number of Contracts | contract | 105 | 92 | ||
Originated Loans | Performing loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | $ 11,752 | 11,752 | ||
Commercial/agriculture real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Impaired financing receivable, recorded investment | $ 24,948 | $ 36,470 | $ 26,303 | |
Number of Contracts | contract | 2 | 3 | ||
Commercial/agriculture real estate | Originated Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | $ 8,656 | $ 6,415 | ||
Number of Contracts | contract | 30 | 28 | ||
Commercial/agriculture real estate | Agricultural real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan-to-value ratio (as a percent) | 75.00% |
LOANS, ALLOWANCE FOR LOAN LOS_4
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Originated and Acquired Loans by Type and Risk (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | $ 1,201,262 | $ 1,246,889 | $ 1,189,425 | |
Unearned net deferred fees and costs and loans in process | (4,487) | (4,245) | ||
Unamortized discount on acquired loans | (4,649) | (5,063) | ||
Allowance for loan losses | (16,860) | (17,043) | (11,835) | |
Loans receivable, net | 1,175,266 | 1,220,538 | ||
1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,161,539 | 1,211,676 | ||
6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 13,659 | 6,672 | ||
7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 26,064 | 28,541 | ||
8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
SBA PPP loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,931 | 123,702 | ||
SBA PPP loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,931 | 123,702 | ||
SBA PPP loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
SBA PPP loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
SBA PPP loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
SBA PPP loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 937,668 | 960,725 | 789,856 | |
Allowance for loan losses | (15,028) | (14,819) | (10,850) | $ (9,551) |
Originated Loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 920,894 | 943,005 | ||
Originated Loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 2,952 | 2,258 | ||
Originated Loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 13,822 | 15,462 | ||
Originated Loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated Loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated Loans | SBA PPP loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,931 | 123,702 | ||
Originated Loans | SBA PPP loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,931 | 123,702 | ||
Originated Loans | SBA PPP loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated Loans | SBA PPP loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated Loans | SBA PPP loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated Loans | SBA PPP loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated loans before SBA PPP loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 818,737 | 837,023 | ||
Originated loans before SBA PPP loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 801,963 | 819,303 | ||
Originated loans before SBA PPP loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 2,952 | 2,258 | ||
Originated loans before SBA PPP loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 13,822 | 15,462 | ||
Originated loans before SBA PPP loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Originated loans before SBA PPP loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Acquired Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 263,594 | 286,164 | ||
Allowance for loan losses | (1,832) | (985) | ||
Acquired Loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 240,645 | 268,671 | ||
Acquired Loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 10,707 | 4,414 | ||
Acquired Loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 12,242 | 13,079 | ||
Acquired Loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Acquired Loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Gross loans before SBA PPP Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,082,331 | 1,123,187 | ||
Gross loans before SBA PPP Loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,042,608 | 1,087,974 | ||
Gross loans before SBA PPP Loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 13,659 | 6,672 | ||
Gross loans before SBA PPP Loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 26,064 | 28,541 | ||
Gross loans before SBA PPP Loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Gross loans before SBA PPP Loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Purchased credit impaired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 17,441 | 17,946 | 31,231 | |
Allowance for loan losses | 0 | 0 | ||
Other acquired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 246,153 | 268,218 | 368,338 | |
Allowance for loan losses | (1,832) | (2,224) | (769) | |
Commercial/agriculture real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 795,476 | 797,139 | 802,469 | |
Allowance for loan losses | (12,410) | (7,942) | ||
Commercial/agriculture real estate | Commercial real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 515,189 | 507,675 | ||
Commercial/agriculture real estate | Commercial real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 498,817 | 497,785 | ||
Commercial/agriculture real estate | Commercial real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 11,258 | 4,817 | ||
Commercial/agriculture real estate | Commercial real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,114 | 5,073 | ||
Commercial/agriculture real estate | Commercial real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Commercial real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Agricultural real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 70,567 | 68,795 | ||
Commercial/agriculture real estate | Agricultural real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 63,480 | 61,188 | ||
Commercial/agriculture real estate | Agricultural real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 522 | 446 | ||
Commercial/agriculture real estate | Agricultural real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 6,565 | 7,161 | ||
Commercial/agriculture real estate | Agricultural real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Agricultural real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Multi-family real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,988 | 122,152 | ||
Commercial/agriculture real estate | Multi-family real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,684 | 121,696 | ||
Commercial/agriculture real estate | Multi-family real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 304 | 308 | ||
Commercial/agriculture real estate | Multi-family real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 148 | ||
Commercial/agriculture real estate | Multi-family real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Multi-family real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Construction and land development | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 90,732 | 98,517 | ||
Commercial/agriculture real estate | Construction and land development | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 87,011 | 95,000 | ||
Commercial/agriculture real estate | Construction and land development | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 204 | 0 | ||
Commercial/agriculture real estate | Construction and land development | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 3,517 | 3,517 | ||
Commercial/agriculture real estate | Construction and land development | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Construction and land development | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 599,182 | 586,826 | 519,958 | |
Allowance for loan losses | (11,109) | (10,271) | (7,277) | (6,205) |
Commercial/agriculture real estate | Originated Loans | Commercial real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 365,603 | 351,113 | ||
Commercial/agriculture real estate | Originated Loans | Commercial real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 363,758 | 349,482 | ||
Commercial/agriculture real estate | Originated Loans | Commercial real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 764 | 543 | ||
Commercial/agriculture real estate | Originated Loans | Commercial real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,081 | 1,088 | ||
Commercial/agriculture real estate | Originated Loans | Commercial real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Commercial real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Agricultural real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 38,140 | 31,741 | ||
Commercial/agriculture real estate | Originated Loans | Agricultural real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 36,439 | 30,041 | ||
Commercial/agriculture real estate | Originated Loans | Agricultural real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 522 | 446 | ||
Commercial/agriculture real estate | Originated Loans | Agricultural real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,179 | 1,254 | ||
Commercial/agriculture real estate | Originated Loans | Agricultural real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Agricultural real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Multi-family real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 111,503 | 112,731 | ||
Commercial/agriculture real estate | Originated Loans | Multi-family real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 111,199 | 112,423 | ||
Commercial/agriculture real estate | Originated Loans | Multi-family real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 304 | 308 | ||
Commercial/agriculture real estate | Originated Loans | Multi-family real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Multi-family real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Multi-family real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Construction and land development | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 83,936 | 91,241 | ||
Commercial/agriculture real estate | Originated Loans | Construction and land development | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 80,458 | 87,763 | ||
Commercial/agriculture real estate | Originated Loans | Construction and land development | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Construction and land development | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 3,478 | 3,478 | ||
Commercial/agriculture real estate | Originated Loans | Construction and land development | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Originated Loans | Construction and land development | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Allowance for loan losses | (1,301) | (665) | ||
Commercial/agriculture real estate | Acquired Loans | Commercial real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 149,586 | 156,562 | ||
Commercial/agriculture real estate | Acquired Loans | Commercial real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 135,059 | 148,303 | ||
Commercial/agriculture real estate | Acquired Loans | Commercial real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 10,494 | 4,274 | ||
Commercial/agriculture real estate | Acquired Loans | Commercial real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 4,033 | 3,985 | ||
Commercial/agriculture real estate | Acquired Loans | Commercial real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Commercial real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Agricultural real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 32,427 | 37,054 | ||
Commercial/agriculture real estate | Acquired Loans | Agricultural real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 27,041 | 31,147 | ||
Commercial/agriculture real estate | Acquired Loans | Agricultural real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Agricultural real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,386 | 5,907 | ||
Commercial/agriculture real estate | Acquired Loans | Agricultural real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Agricultural real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Multi-family real estate | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 7,485 | 9,421 | ||
Commercial/agriculture real estate | Acquired Loans | Multi-family real estate | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 7,485 | 9,273 | ||
Commercial/agriculture real estate | Acquired Loans | Multi-family real estate | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Multi-family real estate | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 148 | ||
Commercial/agriculture real estate | Acquired Loans | Multi-family real estate | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Multi-family real estate | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Construction and land development | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 6,796 | 7,276 | ||
Commercial/agriculture real estate | Acquired Loans | Construction and land development | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 6,553 | 7,237 | ||
Commercial/agriculture real estate | Acquired Loans | Construction and land development | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 204 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Construction and land development | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 39 | 39 | ||
Commercial/agriculture real estate | Acquired Loans | Construction and land development | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Acquired Loans | Construction and land development | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Commercial/agriculture real estate | Purchased credit impaired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 14,856 | 15,100 | 25,452 | |
Allowance for loan losses | 0 | 0 | ||
Commercial/agriculture real estate | Other acquired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 181,438 | 195,213 | 257,059 | |
Allowance for loan losses | (1,301) | (1,684) | (526) | |
C&I/Agricultural operating | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 243,114 | 273,040 | 159,946 | |
Allowance for loan losses | (1,727) | (1,819) | ||
C&I/Agricultural operating | Commercial and industrial | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 95,933 | 116,553 | ||
C&I/Agricultural operating | Commercial and industrial | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 91,220 | 112,392 | ||
C&I/Agricultural operating | Commercial and industrial | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 326 | 29 | ||
C&I/Agricultural operating | Commercial and industrial | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 4,387 | 4,132 | ||
C&I/Agricultural operating | Commercial and industrial | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Commercial and industrial | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Agricultural operating | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 28,250 | 32,785 | ||
C&I/Agricultural operating | Agricultural operating | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 26,757 | 30,300 | ||
C&I/Agricultural operating | Agricultural operating | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,045 | 934 | ||
C&I/Agricultural operating | Agricultural operating | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 448 | 1,551 | ||
C&I/Agricultural operating | Agricultural operating | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Agricultural operating | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | SBA PPP loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 118,931 | 123,702 | ||
C&I/Agricultural operating | Originated Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 216,773 | 243,449 | 107,949 | |
Allowance for loan losses | (1,633) | (2,112) | (1,659) | (1,643) |
C&I/Agricultural operating | Originated Loans | Commercial and industrial | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 76,693 | 95,290 | ||
C&I/Agricultural operating | Originated Loans | Commercial and industrial | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 72,355 | 91,474 | ||
C&I/Agricultural operating | Originated Loans | Commercial and industrial | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 317 | 20 | ||
C&I/Agricultural operating | Originated Loans | Commercial and industrial | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 4,021 | 3,796 | ||
C&I/Agricultural operating | Originated Loans | Commercial and industrial | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Originated Loans | Commercial and industrial | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Originated Loans | Agricultural operating | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 21,149 | 24,457 | ||
C&I/Agricultural operating | Originated Loans | Agricultural operating | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 20,003 | 22,462 | ||
C&I/Agricultural operating | Originated Loans | Agricultural operating | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,045 | 934 | ||
C&I/Agricultural operating | Originated Loans | Agricultural operating | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 101 | 1,061 | ||
C&I/Agricultural operating | Originated Loans | Agricultural operating | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Originated Loans | Agricultural operating | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Acquired Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Allowance for loan losses | (94) | (160) | ||
C&I/Agricultural operating | Acquired Loans | Commercial and industrial | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 19,240 | 21,263 | ||
C&I/Agricultural operating | Acquired Loans | Commercial and industrial | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 18,865 | 20,918 | ||
C&I/Agricultural operating | Acquired Loans | Commercial and industrial | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 9 | 9 | ||
C&I/Agricultural operating | Acquired Loans | Commercial and industrial | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 366 | 336 | ||
C&I/Agricultural operating | Acquired Loans | Commercial and industrial | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Acquired Loans | Commercial and industrial | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Acquired Loans | Agricultural operating | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 7,101 | 8,328 | ||
C&I/Agricultural operating | Acquired Loans | Agricultural operating | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 6,754 | 7,838 | ||
C&I/Agricultural operating | Acquired Loans | Agricultural operating | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Acquired Loans | Agricultural operating | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 347 | 490 | ||
C&I/Agricultural operating | Acquired Loans | Agricultural operating | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Acquired Loans | Agricultural operating | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
C&I/Agricultural operating | Purchased credit impaired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,367 | 1,534 | 3,845 | |
Allowance for loan losses | 0 | 0 | ||
C&I/Agricultural operating | Other acquired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 24,974 | 28,057 | 48,152 | |
Allowance for loan losses | (94) | (141) | (27) | |
Residential mortgage | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 127,622 | 137,646 | 173,412 | |
Allowance for loan losses | (1,329) | (1,039) | ||
Residential mortgage | Residential mortgage | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 122,331 | 131,386 | ||
Residential mortgage | Residential mortgage | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 116,746 | 124,902 | ||
Residential mortgage | Residential mortgage | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 138 | ||
Residential mortgage | Residential mortgage | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,585 | 6,346 | ||
Residential mortgage | Residential mortgage | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Residential mortgage | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Purchased HELOC loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,291 | 6,260 | ||
Residential mortgage | Purchased HELOC loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,057 | 5,959 | ||
Residential mortgage | Purchased HELOC loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Purchased HELOC loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 234 | 301 | ||
Residential mortgage | Purchased HELOC loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Purchased HELOC loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Originated Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 87,576 | 92,543 | 110,455 | |
Allowance for loan losses | (941) | (1,041) | (924) | (879) |
Residential mortgage | Originated Loans | Residential mortgage | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 82,285 | 86,283 | ||
Residential mortgage | Originated Loans | Residential mortgage | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 78,764 | 82,097 | ||
Residential mortgage | Originated Loans | Residential mortgage | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 7 | ||
Residential mortgage | Originated Loans | Residential mortgage | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 3,521 | 4,179 | ||
Residential mortgage | Originated Loans | Residential mortgage | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Originated Loans | Residential mortgage | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Originated Loans | Purchased HELOC loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,291 | 6,260 | ||
Residential mortgage | Originated Loans | Purchased HELOC loans | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 5,057 | 5,959 | ||
Residential mortgage | Originated Loans | Purchased HELOC loans | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Originated Loans | Purchased HELOC loans | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 234 | 301 | ||
Residential mortgage | Originated Loans | Purchased HELOC loans | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Originated Loans | Purchased HELOC loans | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Acquired Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Allowance for loan losses | (388) | (115) | ||
Residential mortgage | Acquired Loans | Residential mortgage | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 40,046 | 45,103 | ||
Residential mortgage | Acquired Loans | Residential mortgage | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 37,982 | 42,805 | ||
Residential mortgage | Acquired Loans | Residential mortgage | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 131 | ||
Residential mortgage | Acquired Loans | Residential mortgage | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 2,064 | 2,167 | ||
Residential mortgage | Acquired Loans | Residential mortgage | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Acquired Loans | Residential mortgage | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Residential mortgage | Purchased credit impaired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 1,218 | 1,312 | 1,934 | |
Allowance for loan losses | 0 | 0 | ||
Residential mortgage | Other acquired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 38,828 | 43,791 | 61,023 | |
Allowance for loan losses | (388) | (335) | (163) | |
Consumer installment | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 35,050 | 39,064 | 53,598 | |
Allowance for loan losses | (499) | (575) | ||
Consumer installment | Originated indirect paper | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 23,186 | 25,851 | ||
Consumer installment | Originated indirect paper | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 23,024 | 25,616 | ||
Consumer installment | Originated indirect paper | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated indirect paper | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 162 | 235 | ||
Consumer installment | Originated indirect paper | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated indirect paper | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Other consumer | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 11,864 | 13,213 | ||
Consumer installment | Other consumer | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 11,812 | 13,136 | ||
Consumer installment | Other consumer | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Other consumer | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 52 | 77 | ||
Consumer installment | Other consumer | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Other consumer | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 34,137 | 37,907 | 51,494 | |
Allowance for loan losses | (450) | (489) | (530) | (467) |
Consumer installment | Originated Loans | Originated indirect paper | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 23,186 | 25,851 | ||
Consumer installment | Originated Loans | Originated indirect paper | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 23,024 | 25,616 | ||
Consumer installment | Originated Loans | Originated indirect paper | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated Loans | Originated indirect paper | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 162 | 235 | ||
Consumer installment | Originated Loans | Originated indirect paper | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated Loans | Originated indirect paper | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated Loans | Other consumer | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 10,951 | 12,056 | ||
Consumer installment | Originated Loans | Other consumer | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 10,906 | 11,986 | ||
Consumer installment | Originated Loans | Other consumer | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated Loans | Other consumer | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 45 | 70 | ||
Consumer installment | Originated Loans | Other consumer | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Originated Loans | Other consumer | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Acquired Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Allowance for loan losses | (49) | (45) | ||
Consumer installment | Acquired Loans | Other consumer | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 913 | 1,157 | ||
Consumer installment | Acquired Loans | Other consumer | 1 to 5 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 906 | 1,150 | ||
Consumer installment | Acquired Loans | Other consumer | 6 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Acquired Loans | Other consumer | 7 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 7 | 7 | ||
Consumer installment | Acquired Loans | Other consumer | 8 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Acquired Loans | Other consumer | 9 | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | ||
Consumer installment | Purchased credit impaired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | 0 | |
Allowance for loan losses | 0 | 0 | ||
Consumer installment | Other acquired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 913 | 1,157 | 2,104 | |
Allowance for loan losses | (49) | (64) | (53) | |
Unallocated | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | 0 | |
Allowance for loan losses | (895) | (460) | ||
Unallocated | Originated Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | 0 | |
Allowance for loan losses | (895) | (906) | (460) | (357) |
Unallocated | Acquired Loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Allowance for loan losses | 0 | 0 | ||
Unallocated | Purchased credit impaired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | 0 | |
Allowance for loan losses | 0 | 0 | ||
Unallocated | Other acquired loans | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Gross loans | 0 | 0 | $ 0 | |
Allowance for loan losses | $ 0 | $ 0 | $ 0 |
LOANS, ALLOWANCE FOR LOAN LOS_5
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - SBA PPP Loans by Round (Details) - USD ($) $ in Thousands | Apr. 30, 2021 | Apr. 01, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Gross loans | $ 1,201,262 | $ 1,246,889 | $ 1,189,425 | ||
SBA PPP loans | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Gross loans | 118,931 | 123,702 | |||
Net Deferred Fee Income | 3,000 | 3,000 | |||
SBA PPP loans | Subsequent Event | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Gross loans | $ 127,000 | $ 119,000 | |||
Net Deferred Fee Income | 4,700 | 3,900 | |||
SBA PPP loans | SBA PPP Loans - Round 1 | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Gross loans | 72,000 | 124,000 | |||
Net Deferred Fee Income | 1,300 | 3,000 | |||
SBA PPP loans | SBA PPP Loans - Round 1 | Subsequent Event | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Net Deferred Fee Income | $ 900 | ||||
SBA PPP loans | SBA PPP Loans - Round 2 | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Gross loans | 47,000 | 0 | |||
Net Deferred Fee Income | $ 1,700 | $ 0 | |||
SBA PPP loans | SBA PPP Loans - Round 2 | Subsequent Event | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Gross loans | 8,000 | ||||
Net Deferred Fee Income | $ 800 |
LOANS, ALLOWANCE FOR LOAN LOS_6
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Changes in the ALL by Loan Type (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Allowance for Loan Losses: | |||
Beginning balance | $ 17,043 | ||
Provision | 0 | $ 2,000 | |
Ending balance | 16,860 | 11,835 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Amount of allowance for loan losses arising from loans individually evaluated for impairment | 1,261 | 1,033 | $ 1,115 |
Amount of allowance for loan losses arising from loans collectively evaluated for impairment | 15,599 | 10,802 | 15,928 |
Loans Receivable: | |||
Total Loans | 1,201,262 | 1,189,425 | 1,246,889 |
Ending balance: individually evaluated for impairment | 40,243 | 55,951 | 43,397 |
Ending balance: collectively evaluated for impairment | 1,161,019 | 1,133,474 | 1,203,492 |
Originated Loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 14,819 | 9,551 | |
Charge-offs | (25) | (356) | |
Recoveries | 30 | 25 | |
Provision | 204 | 1,630 | |
Ending balance | 15,028 | 10,850 | |
Loans Receivable: | |||
Total Loans | 937,668 | 789,856 | 960,725 |
Purchased credit impaired loans | |||
Allowance for Loan Losses: | |||
Ending balance | 0 | 0 | |
Loans Receivable: | |||
Total Loans | 17,441 | 31,231 | 17,946 |
Other acquired loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 2,224 | 769 | |
Charge-offs | (200) | (164) | |
Recoveries | 12 | 10 | |
Provision | (204) | 370 | |
Ending balance | 1,832 | ||
Loans Receivable: | |||
Total Loans | 246,153 | 368,338 | 268,218 |
Acquired Loans | |||
Allowance for Loan Losses: | |||
Ending balance | 1,832 | 985 | |
Loans Receivable: | |||
Total Loans | 263,594 | 286,164 | |
Commercial/agriculture real estate | |||
Allowance for Loan Losses: | |||
Ending balance | 12,410 | 7,942 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Amount of allowance for loan losses arising from loans individually evaluated for impairment | 1,094 | 733 | 698 |
Amount of allowance for loan losses arising from loans collectively evaluated for impairment | 11,316 | 7,209 | 11,257 |
Loans Receivable: | |||
Total Loans | 795,476 | 802,469 | 797,139 |
Ending balance: individually evaluated for impairment | 24,948 | 36,470 | 26,303 |
Ending balance: collectively evaluated for impairment | 770,528 | 765,999 | 770,836 |
Commercial/agriculture real estate | Originated Loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 10,271 | 6,205 | |
Charge-offs | 0 | 0 | |
Recoveries | 5 | 0 | |
Provision | 833 | 1,072 | |
Ending balance | 11,109 | 7,277 | |
Loans Receivable: | |||
Total Loans | 599,182 | 519,958 | 586,826 |
Commercial/agriculture real estate | Purchased credit impaired loans | |||
Allowance for Loan Losses: | |||
Ending balance | 0 | 0 | |
Loans Receivable: | |||
Total Loans | 14,856 | 25,452 | 15,100 |
Commercial/agriculture real estate | Other acquired loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 1,684 | 526 | |
Charge-offs | (200) | 0 | |
Recoveries | 0 | 0 | |
Provision | (183) | 139 | |
Ending balance | 1,301 | ||
Loans Receivable: | |||
Total Loans | 181,438 | 257,059 | 195,213 |
Commercial/agriculture real estate | Acquired Loans | |||
Allowance for Loan Losses: | |||
Ending balance | 1,301 | 665 | |
C&I/Agricultural operating | |||
Allowance for Loan Losses: | |||
Ending balance | 1,727 | 1,819 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Amount of allowance for loan losses arising from loans individually evaluated for impairment | 10 | 92 | 190 |
Amount of allowance for loan losses arising from loans collectively evaluated for impairment | 1,717 | 1,727 | 2,063 |
Loans Receivable: | |||
Total Loans | 243,114 | 159,946 | 273,040 |
Ending balance: individually evaluated for impairment | 6,197 | 8,759 | 7,115 |
Ending balance: collectively evaluated for impairment | 236,917 | 151,187 | 265,925 |
C&I/Agricultural operating | Originated Loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 2,112 | 1,643 | |
Charge-offs | 0 | (307) | |
Recoveries | 8 | 0 | |
Provision | (487) | 323 | |
Ending balance | 1,633 | 1,659 | |
Loans Receivable: | |||
Total Loans | 216,773 | 107,949 | 243,449 |
C&I/Agricultural operating | Purchased credit impaired loans | |||
Allowance for Loan Losses: | |||
Ending balance | 0 | 0 | |
Loans Receivable: | |||
Total Loans | 1,367 | 3,845 | 1,534 |
C&I/Agricultural operating | Other acquired loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 141 | 27 | |
Charge-offs | 0 | (135) | |
Recoveries | 7 | 0 | |
Provision | (54) | 268 | |
Ending balance | 94 | ||
Loans Receivable: | |||
Total Loans | 24,974 | 48,152 | 28,057 |
C&I/Agricultural operating | Acquired Loans | |||
Allowance for Loan Losses: | |||
Ending balance | 94 | 160 | |
Residential mortgage | |||
Allowance for Loan Losses: | |||
Ending balance | 1,329 | 1,039 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Amount of allowance for loan losses arising from loans individually evaluated for impairment | 157 | 181 | 226 |
Amount of allowance for loan losses arising from loans collectively evaluated for impairment | 1,172 | 858 | 1,150 |
Loans Receivable: | |||
Total Loans | 127,622 | 173,412 | 137,646 |
Ending balance: individually evaluated for impairment | 8,843 | 10,226 | 9,621 |
Ending balance: collectively evaluated for impairment | 118,779 | 163,186 | 128,025 |
Residential mortgage | Originated Loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 1,041 | 879 | |
Charge-offs | 0 | 0 | |
Recoveries | 7 | 5 | |
Provision | (107) | 40 | |
Ending balance | 941 | 924 | |
Loans Receivable: | |||
Total Loans | 87,576 | 110,455 | 92,543 |
Residential mortgage | Purchased credit impaired loans | |||
Allowance for Loan Losses: | |||
Ending balance | 0 | 0 | |
Loans Receivable: | |||
Total Loans | 1,218 | 1,934 | 1,312 |
Residential mortgage | Other acquired loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 335 | 163 | |
Charge-offs | 0 | (27) | |
Recoveries | 1 | 8 | |
Provision | 52 | (29) | |
Ending balance | 388 | ||
Loans Receivable: | |||
Total Loans | 38,828 | 61,023 | 43,791 |
Residential mortgage | Acquired Loans | |||
Allowance for Loan Losses: | |||
Ending balance | 388 | 115 | |
Consumer installment | |||
Allowance for Loan Losses: | |||
Ending balance | 499 | 575 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Amount of allowance for loan losses arising from loans individually evaluated for impairment | 0 | 27 | 1 |
Amount of allowance for loan losses arising from loans collectively evaluated for impairment | 499 | 548 | 552 |
Loans Receivable: | |||
Total Loans | 35,050 | 53,598 | 39,064 |
Ending balance: individually evaluated for impairment | 255 | 496 | 358 |
Ending balance: collectively evaluated for impairment | 34,795 | 53,102 | 38,706 |
Consumer installment | Originated Loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 489 | 467 | |
Charge-offs | (25) | (49) | |
Recoveries | 10 | 20 | |
Provision | (24) | 92 | |
Ending balance | 450 | 530 | |
Loans Receivable: | |||
Total Loans | 34,137 | 51,494 | 37,907 |
Consumer installment | Purchased credit impaired loans | |||
Allowance for Loan Losses: | |||
Ending balance | 0 | 0 | |
Loans Receivable: | |||
Total Loans | 0 | 0 | 0 |
Consumer installment | Other acquired loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 64 | 53 | |
Charge-offs | 0 | (2) | |
Recoveries | 4 | 2 | |
Provision | (19) | (8) | |
Ending balance | 49 | ||
Loans Receivable: | |||
Total Loans | 913 | 2,104 | 1,157 |
Consumer installment | Acquired Loans | |||
Allowance for Loan Losses: | |||
Ending balance | 49 | 45 | |
Unallocated | |||
Allowance for Loan Losses: | |||
Ending balance | 895 | 460 | |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Amount of allowance for loan losses arising from loans individually evaluated for impairment | 0 | 0 | 0 |
Amount of allowance for loan losses arising from loans collectively evaluated for impairment | 895 | 460 | 906 |
Loans Receivable: | |||
Total Loans | 0 | 0 | 0 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 0 | 0 | 0 |
Unallocated | Originated Loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 906 | 357 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision | (11) | 103 | |
Ending balance | 895 | 460 | |
Loans Receivable: | |||
Total Loans | 0 | 0 | 0 |
Unallocated | Purchased credit impaired loans | |||
Allowance for Loan Losses: | |||
Ending balance | 0 | 0 | |
Loans Receivable: | |||
Total Loans | 0 | 0 | 0 |
Unallocated | Other acquired loans | |||
Allowance for Loan Losses: | |||
Beginning balance | 0 | 0 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision | 0 | 0 | |
Ending balance | 0 | ||
Loans Receivable: | |||
Total Loans | 0 | 0 | $ 0 |
Unallocated | Acquired Loans | |||
Allowance for Loan Losses: | |||
Ending balance | $ 0 | $ 0 |
LOANS, ALLOWANCE FOR LOAN LOS_7
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Loans Receivable by Loan Type (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Loans receivable | |||
Total Loans | $ 1,201,262 | $ 1,246,889 | $ 1,189,425 |
Performing loans | |||
Loans receivable | |||
TDR loans | 11,752 | 11,722 | |
Loans other | 1,180,295 | 1,223,834 | |
Total Loans | 1,192,047 | 1,235,556 | |
Nonperforming loans | |||
Loans receivable | |||
TDR loans | 5,690 | 6,755 | |
Loans other | 3,525 | 4,578 | |
Total Loans | 9,215 | 11,333 | |
Commercial/agriculture real estate | |||
Loans receivable | |||
Total Loans | 795,476 | 797,139 | 802,469 |
Commercial/agriculture real estate | Performing loans | |||
Loans receivable | |||
TDR loans | 4,472 | 4,695 | |
Loans other | 785,733 | 786,533 | |
Total Loans | 790,205 | 791,228 | |
Commercial/agriculture real estate | Nonperforming loans | |||
Loans receivable | |||
TDR loans | 4,184 | 4,691 | |
Loans other | 1,087 | 1,220 | |
Total Loans | 5,271 | 5,911 | |
C&I/Agricultural operating | |||
Loans receivable | |||
Total Loans | 243,114 | 273,040 | 159,946 |
C&I/Agricultural operating | Performing loans | |||
Loans receivable | |||
TDR loans | 4,042 | 3,836 | |
Loans other | 237,917 | 266,975 | |
Total Loans | 241,959 | 270,811 | |
C&I/Agricultural operating | Nonperforming loans | |||
Loans receivable | |||
TDR loans | 758 | 1,287 | |
Loans other | 397 | 942 | |
Total Loans | 1,155 | 2,229 | |
Residential mortgage | |||
Loans receivable | |||
Total Loans | 127,622 | 137,646 | 173,412 |
Residential mortgage | Performing loans | |||
Loans receivable | |||
TDR loans | 3,195 | 3,142 | |
Loans other | 121,746 | 131,470 | |
Total Loans | 124,941 | 134,612 | |
Residential mortgage | Nonperforming loans | |||
Loans receivable | |||
TDR loans | 742 | 777 | |
Loans other | 1,939 | 2,257 | |
Total Loans | 2,681 | 3,034 | |
Consumer installment | |||
Loans receivable | |||
Total Loans | 35,050 | 39,064 | $ 53,598 |
Consumer installment | Performing loans | |||
Loans receivable | |||
TDR loans | 43 | 49 | |
Loans other | 34,899 | 38,856 | |
Total Loans | 34,942 | 38,905 | |
Consumer installment | Nonperforming loans | |||
Loans receivable | |||
TDR loans | 6 | 0 | |
Loans other | 102 | 159 | |
Total Loans | $ 108 | $ 159 |
LOANS, ALLOWANCE FOR LOAN LOS_8
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Aging Analysis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | $ 10,255 | $ 21,195 | |
Nonaccrual Loans | 8,679 | 10,747 | |
Total Past Due Accruing and Nonaccrual Loans | 18,934 | 31,942 | |
Current | 1,182,328 | 1,214,947 | |
Total Loans | 1,201,262 | 1,246,889 | $ 1,189,425 |
SBA PPP loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Loans | 118,931 | 123,702 | |
30-59 Days Past Due | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 7,281 | 18,886 | |
60-89 Days Past Due | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 2,438 | 1,723 | |
Greater Than 89 Days | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 536 | 586 | |
Commercial/agriculture real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Loans | 795,476 | 797,139 | 802,469 |
Commercial/agriculture real estate | Commercial real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 3,218 | 10,035 | |
Nonaccrual Loans | 760 | 679 | |
Total Past Due Accruing and Nonaccrual Loans | 3,978 | 10,714 | |
Current | 511,211 | 496,961 | |
Total Loans | 515,189 | 507,675 | |
Commercial/agriculture real estate | Agricultural real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 361 | 459 | |
Nonaccrual Loans | 4,511 | 5,084 | |
Total Past Due Accruing and Nonaccrual Loans | 4,872 | 5,543 | |
Current | 65,695 | 63,252 | |
Total Loans | 70,567 | 68,795 | |
Commercial/agriculture real estate | Multi-family real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 308 | |
Nonaccrual Loans | 0 | 148 | |
Total Past Due Accruing and Nonaccrual Loans | 0 | 456 | |
Current | 118,988 | 121,696 | |
Total Loans | 118,988 | 122,152 | |
Commercial/agriculture real estate | Construction and land development | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 204 | 3,898 | |
Nonaccrual Loans | 0 | 0 | |
Total Past Due Accruing and Nonaccrual Loans | 204 | 3,898 | |
Current | 90,528 | 94,619 | |
Total Loans | 90,732 | 98,517 | |
Commercial/agriculture real estate | 30-59 Days Past Due | Commercial real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 1,788 | 9,568 | |
Commercial/agriculture real estate | 30-59 Days Past Due | Agricultural real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 361 | 411 | |
Commercial/agriculture real estate | 30-59 Days Past Due | Multi-family real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 308 | |
Commercial/agriculture real estate | 30-59 Days Past Due | Construction and land development | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 3,898 | |
Commercial/agriculture real estate | 60-89 Days Past Due | Commercial real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 1,430 | 467 | |
Commercial/agriculture real estate | 60-89 Days Past Due | Agricultural real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 48 | |
Commercial/agriculture real estate | 60-89 Days Past Due | Multi-family real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Commercial/agriculture real estate | 60-89 Days Past Due | Construction and land development | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 204 | 0 | |
Commercial/agriculture real estate | Greater Than 89 Days | Commercial real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Commercial/agriculture real estate | Greater Than 89 Days | Agricultural real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Commercial/agriculture real estate | Greater Than 89 Days | Multi-family real estate | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Commercial/agriculture real estate | Greater Than 89 Days | Construction and land development | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
C&I/Agricultural operating | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Loans | 243,114 | 273,040 | 159,946 |
C&I/Agricultural operating | Commercial and industrial | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 737 | 927 | |
Nonaccrual Loans | 391 | 357 | |
Total Past Due Accruing and Nonaccrual Loans | 1,128 | 1,284 | |
Current | 94,805 | 115,269 | |
Total Loans | 95,933 | 116,553 | |
C&I/Agricultural operating | SBA PPP loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Nonaccrual Loans | 0 | 0 | |
Total Past Due Accruing and Nonaccrual Loans | 0 | 0 | |
Current | 118,931 | 123,702 | |
Total Loans | 118,931 | 123,702 | |
C&I/Agricultural operating | Agricultural operating | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 2,885 | 1,699 | |
Nonaccrual Loans | 764 | 1,872 | |
Total Past Due Accruing and Nonaccrual Loans | 3,649 | 3,571 | |
Current | 24,601 | 29,214 | |
Total Loans | 28,250 | 32,785 | |
C&I/Agricultural operating | 30-59 Days Past Due | Commercial and industrial | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 592 | 436 | |
C&I/Agricultural operating | 30-59 Days Past Due | SBA PPP loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
C&I/Agricultural operating | 30-59 Days Past Due | Agricultural operating | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 2,506 | 1,499 | |
C&I/Agricultural operating | 60-89 Days Past Due | Commercial and industrial | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 145 | 491 | |
C&I/Agricultural operating | 60-89 Days Past Due | SBA PPP loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
C&I/Agricultural operating | 60-89 Days Past Due | Agricultural operating | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 379 | 200 | |
C&I/Agricultural operating | Greater Than 89 Days | Commercial and industrial | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
C&I/Agricultural operating | Greater Than 89 Days | SBA PPP loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
C&I/Agricultural operating | Greater Than 89 Days | Agricultural operating | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Residential mortgage | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Loans | 127,622 | 137,646 | 173,412 |
Residential mortgage | Residential mortgage | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 2,734 | 3,126 | |
Nonaccrual Loans | 1,933 | 2,217 | |
Total Past Due Accruing and Nonaccrual Loans | 4,667 | 5,343 | |
Current | 117,664 | 126,043 | |
Total Loans | 122,331 | 131,386 | |
Residential mortgage | Purchased HELOC loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 499 | |
Nonaccrual Loans | 234 | 234 | |
Total Past Due Accruing and Nonaccrual Loans | 234 | 733 | |
Current | 5,057 | 5,527 | |
Total Loans | 5,291 | 6,260 | |
Residential mortgage | 30-59 Days Past Due | Residential mortgage | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 1,974 | 2,238 | |
Residential mortgage | 30-59 Days Past Due | Purchased HELOC loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 338 | |
Residential mortgage | 60-89 Days Past Due | Residential mortgage | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 246 | 372 | |
Residential mortgage | 60-89 Days Past Due | Purchased HELOC loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 94 | |
Residential mortgage | Greater Than 89 Days | Residential mortgage | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 514 | 516 | |
Residential mortgage | Greater Than 89 Days | Purchased HELOC loans | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 67 | |
Consumer installment | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Loans | 35,050 | 39,064 | $ 53,598 |
Consumer installment | Originated indirect paper | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 53 | 127 | |
Nonaccrual Loans | 64 | 133 | |
Total Past Due Accruing and Nonaccrual Loans | 117 | 260 | |
Current | 23,069 | 25,591 | |
Total Loans | 23,186 | 25,851 | |
Consumer installment | Other Consumer | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 63 | 117 | |
Nonaccrual Loans | 22 | 23 | |
Total Past Due Accruing and Nonaccrual Loans | 85 | 140 | |
Current | 11,779 | 13,073 | |
Total Loans | 11,864 | 13,213 | |
Consumer installment | 30-59 Days Past Due | Originated indirect paper | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 20 | 90 | |
Consumer installment | 30-59 Days Past Due | Other Consumer | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 40 | 100 | |
Consumer installment | 60-89 Days Past Due | Originated indirect paper | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 33 | 37 | |
Consumer installment | 60-89 Days Past Due | Other Consumer | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 1 | 14 | |
Consumer installment | Greater Than 89 Days | Originated indirect paper | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | 0 | 0 | |
Consumer installment | Greater Than 89 Days | Other Consumer | |||
Aging analysis of the Bank's real estate and consumer loans | |||
Total Past Due and Accruing | $ 22 | $ 3 |
LOANS, ALLOWANCE FOR LOAN LOS_9
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Bank impaired loans | |||
With no related allowance recorded, Recorded investment | $ 34,278 | $ 50,665 | $ 39,245 |
With an allowance recorded, Recorded investment | 5,965 | 5,286 | 4,152 |
Recorded investment, Total | 40,243 | 55,951 | 43,397 |
With no related allowance recorded, unpaid principal balance | 34,278 | 50,665 | 39,245 |
With an allowance recorded, unpaid principal balance | 5,965 | 5,286 | 4,152 |
Unpaid principal balance, Total | 40,243 | 55,951 | 43,397 |
With an allowance recorded, Related allowance | 1,261 | 1,033 | 1,115 |
With no related allowance recorded, Average recorded investment | 36,763 | 54,865 | 49,157 |
With an allowance recorded, Average recorded investment | 5,059 | 4,709 | 4,143 |
Average recorded investment, Total | 41,822 | 59,574 | 53,300 |
With no related allowance recorded, Interest income recognized | 392 | 806 | 2,658 |
With an allowance recorded, Interest income recognized | 70 | 42 | 177 |
Interest income recognized, Total | 462 | 848 | 2,835 |
Commercial/agriculture real estate | |||
Bank impaired loans | |||
With no related allowance recorded, Recorded investment | 19,714 | 33,959 | 24,013 |
With an allowance recorded, Recorded investment | 5,234 | 2,511 | 2,290 |
Recorded investment, Total | 24,948 | 36,470 | 26,303 |
With no related allowance recorded, unpaid principal balance | 19,714 | 33,959 | 24,013 |
With an allowance recorded, unpaid principal balance | 5,234 | 2,511 | 2,290 |
Unpaid principal balance, Total | 24,948 | 36,470 | 26,303 |
With an allowance recorded, Related allowance | 1,094 | 733 | 698 |
With no related allowance recorded, Average recorded investment | 21,864 | 37,237 | 32,264 |
With an allowance recorded, Average recorded investment | 3,762 | 2,327 | 2,217 |
Average recorded investment, Total | 25,626 | 39,564 | 34,481 |
With no related allowance recorded, Interest income recognized | 239 | 563 | 1,894 |
With an allowance recorded, Interest income recognized | 62 | 6 | 100 |
Interest income recognized, Total | 301 | 569 | 1,994 |
C&I/Agricultural operating | |||
Bank impaired loans | |||
With no related allowance recorded, Recorded investment | 6,118 | 8,343 | 6,334 |
With an allowance recorded, Recorded investment | 79 | 416 | 781 |
Recorded investment, Total | 6,197 | 8,759 | 7,115 |
With no related allowance recorded, unpaid principal balance | 6,118 | 8,343 | 6,334 |
With an allowance recorded, unpaid principal balance | 79 | 416 | 781 |
Unpaid principal balance, Total | 6,197 | 8,759 | 7,115 |
With an allowance recorded, Related allowance | 10 | 92 | 190 |
With no related allowance recorded, Average recorded investment | 6,226 | 8,910 | 7,906 |
With an allowance recorded, Average recorded investment | 430 | 453 | 636 |
Average recorded investment, Total | 6,656 | 9,363 | 8,542 |
With no related allowance recorded, Interest income recognized | 70 | 119 | 284 |
With an allowance recorded, Interest income recognized | 0 | 5 | 22 |
Interest income recognized, Total | 70 | 124 | 306 |
Residential mortgage | |||
Bank impaired loans | |||
With no related allowance recorded, Recorded investment | 8,191 | 7,966 | 8,542 |
With an allowance recorded, Recorded investment | 652 | 2,260 | 1,079 |
Recorded investment, Total | 8,843 | 10,226 | 9,621 |
With no related allowance recorded, unpaid principal balance | 8,191 | 7,966 | 8,542 |
With an allowance recorded, unpaid principal balance | 652 | 2,260 | 1,079 |
Unpaid principal balance, Total | 8,843 | 10,226 | 9,621 |
With an allowance recorded, Related allowance | 157 | 181 | 226 |
With no related allowance recorded, Average recorded investment | 8,367 | 8,330 | 8,619 |
With an allowance recorded, Average recorded investment | 866 | 1,846 | 1,255 |
Average recorded investment, Total | 9,233 | 10,176 | 9,874 |
With no related allowance recorded, Interest income recognized | 80 | 116 | 450 |
With an allowance recorded, Interest income recognized | 8 | 30 | 54 |
Interest income recognized, Total | 88 | 146 | 504 |
Consumer installment | |||
Bank impaired loans | |||
With no related allowance recorded, Recorded investment | 255 | 397 | 356 |
With an allowance recorded, Recorded investment | 0 | 99 | 2 |
Recorded investment, Total | 255 | 496 | 358 |
With no related allowance recorded, unpaid principal balance | 255 | 397 | 356 |
With an allowance recorded, unpaid principal balance | 0 | 99 | 2 |
Unpaid principal balance, Total | 255 | 496 | 358 |
With an allowance recorded, Related allowance | 0 | 27 | 1 |
With no related allowance recorded, Average recorded investment | 306 | 388 | 368 |
With an allowance recorded, Average recorded investment | 1 | 83 | 35 |
Average recorded investment, Total | 307 | 471 | 403 |
With no related allowance recorded, Interest income recognized | 3 | 8 | 30 |
With an allowance recorded, Interest income recognized | 0 | 1 | 1 |
Interest income recognized, Total | $ 3 | $ 9 | $ 31 |
LOANS, ALLOWANCE FOR LOAN LO_10
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - TDR Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Receivables [Abstract] | ||
Accrual status | $ 11,752 | $ 11,742 |
Non-accrual status | 5,690 | 6,735 |
Total | $ 17,442 | $ 18,477 |
LOANS, ALLOWANCE FOR LOAN LO_11
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - TDR Loan Modifications (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2021USD ($)contract | Mar. 31, 2020USD ($)contract | Jun. 30, 2020TDR | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Number of Contracts | 6 | 6 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 445 | $ 357 | |
Post-Modification Outstanding Recorded Investment | 445 | 357 | |
Specific Reserve | 0 | 0 | |
Maturity Extension | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 110 | 251 | |
Modified Payment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 81 | 0 | |
Modified Underwriting | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 254 | 106 | |
Other | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | $ 0 | $ 0 | |
Commercial/agriculture real estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Number of Contracts | contract | 2 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 119 | $ 265 | |
Post-Modification Outstanding Recorded Investment | 119 | 265 | |
Specific Reserve | 0 | 0 | |
Commercial/agriculture real estate | Maturity Extension | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 38 | 248 | |
Commercial/agriculture real estate | Modified Payment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 81 | 0 | |
Commercial/agriculture real estate | Modified Underwriting | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 0 | 17 | |
Commercial/agriculture real estate | Other | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | $ 0 | $ 0 | |
C&I/Agricultural operating | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Number of Contracts | contract | 1 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 240 | $ 0 | |
Post-Modification Outstanding Recorded Investment | 240 | 0 | |
Specific Reserve | 0 | 0 | |
C&I/Agricultural operating | Maturity Extension | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 0 | 0 | |
C&I/Agricultural operating | Modified Payment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 0 | 0 | |
C&I/Agricultural operating | Modified Underwriting | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 240 | 0 | |
C&I/Agricultural operating | Other | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | $ 0 | $ 0 | |
Residential mortgage | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Number of Contracts | contract | 2 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 80 | $ 85 | |
Post-Modification Outstanding Recorded Investment | 80 | 85 | |
Specific Reserve | 0 | 0 | |
Residential mortgage | Maturity Extension | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 66 | 0 | |
Residential mortgage | Modified Payment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 0 | 0 | |
Residential mortgage | Modified Underwriting | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 14 | 85 | |
Residential mortgage | Other | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | $ 0 | $ 0 | |
Consumer installment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Number of Contracts | contract | 1 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 6 | $ 7 | |
Post-Modification Outstanding Recorded Investment | 6 | 7 | |
Specific Reserve | 0 | 0 | |
Consumer installment | Maturity Extension | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 6 | 3 | |
Consumer installment | Modified Payment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 0 | 0 | |
Consumer installment | Modified Underwriting | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | 0 | 4 | |
Consumer installment | Other | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Modifications | $ 0 | $ 0 |
LOANS, ALLOWANCE FOR LOAN LO_12
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Loans by Loan Segment (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2021USD ($)contract | Mar. 31, 2020USD ($)contract | Jun. 30, 2020TDR | Dec. 31, 2020USD ($) | |
Troubled Debt Restructuring | ||||
Number of Modifications | 6 | 6 | 0 | |
Recorded Investment | $ | $ 17,442 | $ 18,477 | ||
Commercial/agriculture real estate | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 2 | 3 | ||
C&I/Agricultural operating | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 1 | 0 | ||
Residential mortgage | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 2 | 1 | ||
Consumer installment | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 1 | 2 | ||
Originated Loans | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 105 | 92 | ||
Recorded Investment | $ | $ 17,442 | $ 12,088 | ||
Originated Loans | Commercial/agriculture real estate | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 30 | 28 | ||
Recorded Investment | $ | $ 8,656 | $ 6,415 | ||
Originated Loans | C&I/Agricultural operating | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 14 | 14 | ||
Recorded Investment | $ | $ 4,800 | $ 2,065 | ||
Originated Loans | Residential mortgage | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 52 | 42 | ||
Recorded Investment | $ | $ 3,937 | $ 3,539 | ||
Originated Loans | Consumer installment | ||||
Troubled Debt Restructuring | ||||
Number of Modifications | 9 | 8 | ||
Recorded Investment | $ | $ 49 | $ 69 |
LOANS, ALLOWANCE FOR LOAN LO_13
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Troubled Debt Restructurings (Details) - contract | Mar. 31, 2021 | Mar. 31, 2020 |
Considered in Default at Period End: | ||
Number of Modifications | 1 | 5 |
Recorded Investment | 19,000 | 1,892,000 |
Commercial/agriculture real estate | ||
Considered in Default at Period End: | ||
Number of Modifications | 0 | 5 |
Recorded Investment | 0 | 1,892,000 |
C&I/Agricultural operating | ||
Considered in Default at Period End: | ||
Number of Modifications | 0 | 0 |
Recorded Investment | 0 | 0 |
Residential mortgage | ||
Considered in Default at Period End: | ||
Number of Modifications | 1 | 0 |
Recorded Investment | 19,000 | 0 |
Consumer installment | ||
Considered in Default at Period End: | ||
Number of Modifications | 0 | 0 |
Recorded Investment | 0 | 0 |
LOANS, ALLOWANCE FOR LOAN LO_14
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Acquired Loans Outstanding Balance and the Carrying Amount (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | $ 1,192,126 | $ 1,237,581 |
Carrying amount | 1,175,266 | 1,220,538 |
Purchased credit impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 17,441 | 17,946 |
Carrying amount | 16,475 | 16,859 |
Non-PCI Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 246,153 | 268,218 |
Carrying amount | 242,470 | 264,242 |
Acquired Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 263,594 | 286,164 |
Carrying amount | $ 258,945 | $ 281,101 |
LOANS, ALLOWANCE FOR LOAN LO_15
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Accretable Yield (Details) - Acquired Loans - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at beginning of period | $ 3,976 | $ 3,201 |
Acquisitions | 0 | 0 |
Reduction due to unexpected early payoffs | (90) | 0 |
Reclass from non-accretable difference | 63 | 669 |
Accretion | (266) | (233) |
Balance at end of period | $ 3,683 | $ 3,637 |
LOANS, ALLOWANCE FOR LOAN LO_16
LOANS, ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS - Non-Accretable Yield (Details) - Acquired Loans - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Non-Accretable Yield Movement Schedule [Roll Forward] | ||
Balance at beginning of period | $ 1,087 | $ 6,290 |
Additions to non-accretable difference for acquired purchased credit impaired loans | 0 | 0 |
Non-accretable difference realized as interest from payoffs of purchased credit impaired loans | (58) | (1,693) |
Transfers from non-accretable difference to accretable discount | (63) | (2,754) |
Non-accretable difference used to reduce loan principal balance | 0 | (505) |
Non-accretable difference transferred to OREO due to loan foreclosure | 0 | (251) |
Balance at end of period | $ 966 | $ 1,087 |
MORTGAGE SERVICING RIGHTS - Nar
MORTGAGE SERVICING RIGHTS - Narrative (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |||
Deposits | $ 1,380,202 | $ 1,295,256 | |
Servicing fees | $ 352 | $ 339 | |
Discounted rates | Minimum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Servicing asset, measurement input | 0.09 | 0.09 | |
Discounted rates | Maximum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Servicing asset, measurement input | 0.12 | 0.12 | |
Core Deposits | |||
Finite-Lived Intangible Assets [Line Items] | |||
Deposits | $ 4,979 | $ 2,890 | |
Mortgage servicing rights | |||
Finite-Lived Intangible Assets [Line Items] | |||
Residential mortgage loans serviced for others | $ 551,622 | $ 553,655 |
MORTGAGE SERVICING RIGHTS - Ser
MORTGAGE SERVICING RIGHTS - Servicing Asset at Amortized Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||
Beginning of period | $ 3,252 | ||
Increase in mortgage servicing rights resulting from transfers of financial assets | (297) | $ (182) | |
End of period | 3,999 | $ 3,252 | |
Mortgage servicing rights | |||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||
Beginning of period | 5,266 | 4,541 | 4,541 |
Increase in mortgage servicing rights resulting from transfers of financial assets | 297 | 2,020 | |
Amortization during the period | (439) | (1,295) | |
End of period | 5,124 | 5,266 | |
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward] | |||
Valuation allowance, beginning of period | (2,014) | $ (259) | (259) |
Additions | 0 | (1,755) | |
Recoveries | 889 | 0 | |
Balance at beginning of period | (1,125) | (2,014) | |
Mortgage servicing rights, net | 3,999 | 3,252 | |
Fair value of mortgage servicing rights; end of period | 4,005 | 3,285 | |
Residential mortgage loans serviced for others | $ 551,622 | $ 553,655 | |
Net book value of MSR asset to loans serviced for others (as a percent) | 0.73% | 0.59% |
LEASES - Narrative (Details)
LEASES - Narrative (Details) | Mar. 31, 2021lease |
Lessee, Lease, Description [Line Items] | |
Operating lease renewal term | 5 years |
Minimum | |
Lessee, Lease, Description [Line Items] | |
Remaining lease term | 2 years |
Maximum | |
Lessee, Lease, Description [Line Items] | |
Remaining lease term | 7 years 29 days |
Corporate Offices | |
Lessee, Lease, Description [Line Items] | |
Number of properties subject to operating leases (in leases) | 1 |
Bank Branch | |
Lessee, Lease, Description [Line Items] | |
Number of properties subject to operating leases (in leases) | 5 |
LEASES - Operating Leases (Deta
LEASES - Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
The components of total lease cost were as follows: | |||
Operating lease cost | $ 139 | $ 161 | |
Variable lease cost | 7 | 2 | |
Total lease cost | 146 | 163 | |
The components of total lease income were as follows: | |||
Operating lease income | 7 | 3 | |
Cash paid for amounts included in the measurement of lease liabilities: | |||
Operating cash flows from operating leases | 138 | $ 159 | |
Supplemental balance sheet information related to leases was as follows: | |||
Operating lease right-of-use assets | 2,539 | $ 2,657 | |
Operating lease liabilities | $ 2,606 | $ 2,762 | |
Weighted average remaining lease term in years; operating leases | 6 years 2 months 4 days | 6 years 3 months 25 days | |
Weighted average discount rate; operating leases (as a percent) | 2.70% | 2.70% |
LEASES - Maturities of Operatin
LEASES - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Payments | ||
2021 | $ 415 | |
2022 | 558 | |
2023 | 505 | |
2024 | 419 | |
2025 | 403 | |
Thereafter | 826 | |
Total | 3,126 | |
Less: effects of discounting | (520) | |
Lease liability recognized | 2,606 | $ 2,762 |
Receipts | ||
2021 | 25 | |
2022 | 34 | |
2023 | 27 | |
Total | $ 86 |
DEPOSITS - Deposits by Type (De
DEPOSITS - Deposits by Type (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Non-interest bearing demand deposits | $ 257,042 | $ 238,348 |
Interest bearing demand deposits | 352,302 | 301,764 |
Savings accounts | 222,448 | 196,348 |
Money market accounts | 258,942 | 245,549 |
Certificate accounts | 289,468 | 313,247 |
Total deposits | 1,380,202 | 1,295,256 |
Brokered deposits included above: | $ 2,516 | $ 2,516 |
DEPOSITS - Maturities of Time D
DEPOSITS - Maturities of Time Deposits (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Deposits [Abstract] | |
March 31, 2022 | $ 217,364 |
March 31, 2023 | 61,638 |
March 31, 2024 | 6,975 |
March 31, 2025 | 2,814 |
March 31, 2026 | 677 |
After March 31, 2026 | 0 |
Total | $ 289,468 |
DEPOSITS - Narrative (Details)
DEPOSITS - Narrative (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Time deposits at or above FDIC insurance limit | $ 42,992 | $ 46,660 |
FEDERAL HOME LOAN BANK AND FE_3
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES AND OTHER BORROWINGS - Summary (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2025 | Aug. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2020 | |
Summary of Federal Home Loan Bank advances | ||||
Federal Home Loan Bank advances, net | $ 115,481,000 | $ 123,498,000 | ||
Long-term debt, gross | 173,835,000 | 181,826,000 | ||
Letters of credit outstanding, amount | 179,725,000 | 179,400,000 | ||
Banks available and unused portion of borrowing agreement | 122,791,000 | 118,391,000 | ||
Maximum month-end amounts outstanding | 123,530,000 | 162,530,000 | ||
Senior Notes - Variable Rate due June 2031 | Revolving Credit Facility | ||||
Summary of Federal Home Loan Bank advances | ||||
Maximum borrowing capacity | 5,000,000 | |||
FHLB | ||||
Summary of Federal Home Loan Bank advances | ||||
FHLB advances, maturity 2021 | 4,000,000 | 8,000,000 | ||
FHLB advances, maturity 2022 | 11,000,000 | 15,000,000 | ||
FHLB advances, maturity 2023 | 20,000,000 | 20,000,000 | ||
FHLB advances, maturity 2024 | 20,530,000 | 20,530,000 | ||
FHLB advances, maturity 2025 | 5,000,000 | 5,000,000 | ||
FHLB advances, maturity 2029 | 42,500,000 | 42,500,000 | ||
FHLB advances, maturity 2030 | 12,500,000 | 12,500,000 | ||
FHLB advances, maturities summary | 115,530,000 | 123,530,000 | ||
Less: unamortized debt issuance costs | (49,000) | (32,000) | ||
Federal Home Loan Bank advances, net | 115,481,000 | 123,498,000 | ||
Letters of credit outstanding, amount | $ 720,008,000 | $ 723,862,000 | ||
Weighted-average interest rate (as a percent) | 1.80% | 0.50% | ||
FHLB | Minimum | ||||
Summary of Federal Home Loan Bank advances | ||||
Range of stated rates, 2020 (as a percent) | 0.00% | 0.00% | ||
Range of stated rates, 2021 (as a percent) | 2.45% | 2.34% | ||
Range of stated rates, 2022 (as a percent) | 1.43% | 1.43% | ||
Range of stated rates, 2023 (as a percent) | 0.00% | 0.00% | ||
Range of stated rates, 2024 (as a percent) | 1.45% | 1.45% | ||
Range of stated rates, 2029 (as a percent) | 1.00% | 1.00% | ||
Range of stated rates, 2030 (as a percent) | 0.52% | 0.52% | ||
FHLB | Maximum | ||||
Summary of Federal Home Loan Bank advances | ||||
Range of stated rates, 2020 (as a percent) | 0.00% | 2.16% | ||
Range of stated rates, 2021 (as a percent) | 2.45% | 2.45% | ||
Range of stated rates, 2022 (as a percent) | 1.44% | 1.44% | ||
Range of stated rates, 2023 (as a percent) | 1.45% | 1.45% | ||
Range of stated rates, 2024 (as a percent) | 1.45% | 1.45% | ||
Range of stated rates, 2029 (as a percent) | 1.13% | 1.13% | ||
Range of stated rates, 2030 (as a percent) | 0.86% | 0.86% | ||
Senior Notes | ||||
Summary of Federal Home Loan Bank advances | ||||
Less: unamortized debt issuance costs | $ (502,000) | $ (528,000) | ||
Long-term debt, gross | 58,354,000 | 58,328,000 | ||
Senior Notes | Senior Notes | ||||
Summary of Federal Home Loan Bank advances | ||||
Long-term debt, gross | $ 28,856,000 | $ 28,856,000 | ||
Senior Notes | Senior Notes | Minimum | ||||
Summary of Federal Home Loan Bank advances | ||||
Stated interest rate (as a percent) | 3.50% | 3.25% | ||
Senior Notes | Senior Notes | Maximum | ||||
Summary of Federal Home Loan Bank advances | ||||
Stated interest rate (as a percent) | 3.50% | 3.50% | ||
Subordinated Notes | ||||
Summary of Federal Home Loan Bank advances | ||||
Long-term debt, gross | $ 30,000,000 | $ 30,000,000 | ||
Subordinated Notes | Subordinated Notes due 2027 | ||||
Summary of Federal Home Loan Bank advances | ||||
Long-term debt, gross | $ 15,000,000 | $ 15,000,000 | ||
Stated interest rate (as a percent) | 6.75% | |||
Debt instrument, term | 5 years | |||
Subordinated Notes | Subordinated Notes due 2027 | LIBOR | Forecast | ||||
Summary of Federal Home Loan Bank advances | ||||
Basis spread on variable rate (as a percent) | 4.90% | |||
Subordinated Notes | Subordinated Notes due 2027 | Minimum | ||||
Summary of Federal Home Loan Bank advances | ||||
Stated interest rate (as a percent) | 6.75% | 6.75% | ||
Subordinated Notes | Subordinated Notes due 2027 | Maximum | ||||
Summary of Federal Home Loan Bank advances | ||||
Stated interest rate (as a percent) | 6.75% | 6.75% | ||
Subordinated Notes | Subordinated Notes due 2030 | ||||
Summary of Federal Home Loan Bank advances | ||||
Long-term debt, gross | $ 15,000,000 | $ 15,000,000 | ||
Stated interest rate (as a percent) | 6.00% | |||
Debt instrument, term | 5 years | |||
Subordinated Notes | Subordinated Notes due 2030 | Secured Overnight Financing Rate (SOFR) | Forecast | ||||
Summary of Federal Home Loan Bank advances | ||||
Basis spread on variable rate (as a percent) | 5.91% | |||
Subordinated Notes | Subordinated Notes due 2030 | Minimum | ||||
Summary of Federal Home Loan Bank advances | ||||
Stated interest rate (as a percent) | 6.00% | 6.00% | ||
Subordinated Notes | Subordinated Notes due 2030 | Maximum | ||||
Summary of Federal Home Loan Bank advances | ||||
Stated interest rate (as a percent) | 6.00% | 6.00% | ||
Federal Home Loan Bank Advances | ||||
Summary of Federal Home Loan Bank advances | ||||
FHLB, advances | $ 55,000,000 |
FEDERAL HOME LOAN BANK AND FE_4
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES AND OTHER BORROWINGS - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | |||
Letters of credit outstanding, amount | $ 179,725,000 | $ 179,400,000 | |
Line of Credit | Federal Reserve Bank Paycheck Protection Program Liquidity Facility | |||
Debt Instrument [Line Items] | |||
Remaining borrowing capacity | 118,931,000 | ||
Outstanding balances of debt instrument | 0 | $ 0 | |
Maximum month-end outstanding amount | $ 0 | $ 25,136,000 |
CAPITAL MATTERS - Summary (Deta
CAPITAL MATTERS - Summary (Details) $ in Thousands | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk weighted assets), Actual, Amount | $ 174,424 | $ 171,702 |
Total capital (to risk weighted assets), Actual, Ratio | 0.155 | 0.147 |
Total capital (to risk weighted assets), For Capital Adequacy Purposes, Amount | $ 89,877 | $ 93,381 |
Total capital (to risk weighted assets), For Capital Adequacy Purposes, Ratio | 0.080 | 0.080 |
Total capital (to risk weighted assets), To Be Well Capitalized, Amount | $ 112,347 | $ 116,726 |
Total capital (to risk weighted assets), To Be Well Capitalized, Ratio | 0.100 | 0.100 |
Tier 1 capital (to risk weighted assets), Actual, Amount | $ 160,344 | $ 157,081 |
Tier 1 capital (to risk weighted assets), Actual, Ratio | 0.143 | 0.135 |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes, Amount | $ 67,408 | $ 70,035 |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes, Ratio | 0.060 | 0.060 |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized, Amount | $ 89,877 | $ 93,381 |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized, Ratio | 0.080 | 0.080 |
Common equity tier 1 (to risk weighted assets), Actual, Amount | $ 160,344 | $ 157,081 |
Common equity tier 1 (to risk weighted assets), Actual, Ratio | 14.30% | 13.50% |
Common equity tier 1 (to risk weighted assets), For Capital Adequacy Purposes, Amount | $ 50,556 | $ 52,527 |
Common equity tier 1 (to risk weighted assets), For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Common equity tier 1 (to risk weighted assets), To Be Well Capitalized, Amount | $ 73,025 | $ 75,872 |
Common equity tier 1 (to risk weighted assets), To Be Well Capitalized, Ratio | 6.50% | 6.50% |
Tier 1 leverage ratio (to adjusted total assets), Actual, Amount | $ 160,344 | $ 157,081 |
Tier 1 leverage ratio (to adjusted total assets), Actual, Ratio | 0.098 | 0.099 |
Tier 1 leverage ratio (to adjusted total assets), For Capital Adequacy Purposes, Amount | $ 65,595 | $ 63,718 |
Tier 1 leverage ratio (to adjusted total assets), For Capital Adequacy Purposes, Ratio | 0.040 | 0.040 |
Tier 1 leverage ratio (to adjusted total assets), To Be Well Capitalized, Amount | $ 81,993 | $ 79,647 |
Tier 1 leverage ratio (to adjusted total assets), To Be Well Capitalized, Ratio | 0.050 | 0.050 |
Citizens Community Bancorp, Inc. | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk weighted assets), Actual, Amount | $ 167,145 | $ 166,703 |
Total capital (to risk weighted assets), Actual, Ratio | 0.149 | 0.143 |
Total capital (to risk weighted assets), For Capital Adequacy Purposes, Amount | $ 89,877 | $ 93,381 |
Total capital (to risk weighted assets), For Capital Adequacy Purposes, Ratio | 0.080 | 0.080 |
Tier 1 capital (to risk weighted assets), Actual, Amount | $ 123,065 | $ 122,082 |
Tier 1 capital (to risk weighted assets), Actual, Ratio | 0.110 | 0.105 |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes, Amount | $ 67,408 | $ 70,035 |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes, Ratio | 0.060 | 0.060 |
Common equity tier 1 (to risk weighted assets), Actual, Amount | $ 123,065 | $ 122,082 |
Common equity tier 1 (to risk weighted assets), Actual, Ratio | 11.00% | 10.50% |
Common equity tier 1 (to risk weighted assets), For Capital Adequacy Purposes, Amount | $ 50,556 | $ 52,527 |
Common equity tier 1 (to risk weighted assets), For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Tier 1 leverage ratio (to adjusted total assets), Actual, Amount | $ 123,065 | $ 122,082 |
Tier 1 leverage ratio (to adjusted total assets), Actual, Ratio | 0.075 | 0.077 |
Tier 1 leverage ratio (to adjusted total assets), For Capital Adequacy Purposes, Amount | $ 65,595 | $ 63,718 |
Tier 1 leverage ratio (to adjusted total assets), For Capital Adequacy Purposes, Ratio | 0.040 | 0.040 |
STOCK-BASED COMPENSATION - Narr
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 27, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options outstanding (shares) | 71,700 | 72,300 | 78,100 | ||
2008 Equity Incentive Plan and 2018 Equity Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense related to awards | $ 3 | $ 4 | |||
2008 Equity Incentive Plan and 2018 Equity Incentive Plan | Restricted stock awards | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Compensation expense related to awards | $ 171 | $ 139 | |||
2018 Equity Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock reserved and available for issuance (shares) | 350,000 | ||||
2018 Equity Incentive Plan | Restricted stock awards | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Non-option instruments outstanding (shares) | 163,974 | ||||
2018 Equity Incentive Plan | Employee Stock Option | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options outstanding (shares) | 0 | ||||
2008 Equity Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Term of Equity Incentive Plan | 10 years | ||||
Options granted (shares) | 71,700 | ||||
Expiry period of unexercised incentive stock options | 10 years | ||||
2008 Equity Incentive Plan | Restricted stock awards | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Non-option instruments granted (shares) | 3,619 | ||||
2008 Equity Incentive Plan | Restricted stock awards | Minimum | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of shares, in years | 2 years | ||||
2008 Equity Incentive Plan | Restricted stock awards | Maximum | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of shares, in years | 5 years | ||||
2008 Equity Incentive Plan | Employee Stock Option | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of shares, in years | 5 years |
STOCK-BASED COMPENSATION - Rest
STOCK-BASED COMPENSATION - Restricted Stock Award (Details) - Restricted stock awards - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Number of Shares | ||
Unvested and outstanding at beginning of year (shares) | 57,242 | 43,457 |
Granted (shares) | 64,399 | 45,507 |
Vested (shares) | (11,413) | (31,722) |
Forfeited (shares) | (1,500) | 0 |
Unvested and outstanding at end of year (shares) | 108,728 | 57,242 |
Weighted Average Grant Price | ||
Unvested and outstanding at beginning of year (USD per share) | $ 12.23 | $ 12.76 |
Granted (USD per share) | 10.78 | 11.79 |
Vested (USD per share) | 12.40 | 12.32 |
Forfeited (USD per share) | 10.78 | 0 |
Unvested and outstanding at end of year (USD per share) | $ 11.37 | $ 12.23 |
STOCK-BASED COMPENSATION - Comm
STOCK-BASED COMPENSATION - Common Stock Options Awards (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Option Shares | ||
Outstanding at beginning of period (shares) | 72,300 | 78,100 |
Exercised (shares) | 0 | 0 |
Forfeited or expired (shares) | (600) | (5,800) |
Outstanding at end of period (shares) | 71,700 | 72,300 |
Exercisable at end of period (shares) | 57,100 | 54,100 |
Fully vested and expected to vest (shares) | 71,700 | 72,300 |
Weighted Average Exercise Price | ||
Outstanding at beginning of period (USD per share) | $ 11.05 | $ 11.18 |
Exercised (USD per share) | 0 | 0 |
Forfeited or expired (USD per share) | 13.76 | 11.95 |
Outstanding at end of period (USD per share) | 11.02 | 11.05 |
Weighted Average Exercise Price, Exercisable at end of year (USD per share) | 10.69 | 10.82 |
Weighted Average Exercise Price, Fully vested and expected to vest (USD per share) | $ 11.02 | $ 11.05 |
Weighted Average Remaining Contractual Term, Outstanding at end of period | 5 years 2 months 23 days | 5 years 5 months 26 days |
Weighted Average Remaining Contractual Term, Exercisable at end of period | 5 years 21 days | 5 years 4 months 13 days |
Weighted Average Remaining Contractual Term, Fully vested and expected to vest | 5 years 2 months 23 days | 5 years 5 months 26 days |
Aggregate intrinsic value, exercisable at end of period | $ 98 | $ 4 |
Aggregate intrinsic value, fully vested and expected to vest at end of period | $ 99 | $ 0 |
STOCK-BASED COMPENSATION - 2004
STOCK-BASED COMPENSATION - 2004 Stock Option and Incentive Plan and 2008 Equity Incentive Plan Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | ||
Intrinsic value of options exercised | $ 0 | $ 0 |
Cash received from options exercised | 0 | 0 |
Tax benefit realized from options exercised | $ 0 | $ 0 |
FAIR VALUE ACCOUNTING - Assets
FAIR VALUE ACCOUNTING - Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets Measured on a Recurring Basis | ||
Total available for sale securities | $ 185,160 | $ 144,233 |
U.S. government agency obligations | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 31,712 | 33,365 |
Obligations of states and political subdivisions | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 140 | 140 |
Mortgage-backed securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 72,056 | 40,991 |
Corporate debt securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 27,913 | 17,462 |
Trust preferred securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 17,630 | 16,448 |
Fair Value, Measurements, Recurring | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 185,160 | 144,233 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 185,160 | 144,233 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. government agency obligations | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 31,712 | 33,365 |
Fair Value, Measurements, Recurring | U.S. government agency obligations | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. government agency obligations | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 31,712 | 33,365 |
Fair Value, Measurements, Recurring | U.S. government agency obligations | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 140 | 140 |
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 140 | 140 |
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Mortgage-backed securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 72,056 | 40,991 |
Fair Value, Measurements, Recurring | Mortgage-backed securities | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Mortgage-backed securities | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 72,056 | 40,991 |
Fair Value, Measurements, Recurring | Mortgage-backed securities | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate debt securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 27,913 | 17,462 |
Fair Value, Measurements, Recurring | Corporate debt securities | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate debt securities | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 27,913 | 17,462 |
Fair Value, Measurements, Recurring | Corporate debt securities | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate asset-backed securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 35,709 | 35,827 |
Fair Value, Measurements, Recurring | Corporate asset-backed securities | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate asset-backed securities | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 35,709 | 35,827 |
Fair Value, Measurements, Recurring | Corporate asset-backed securities | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Trust preferred securities | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 17,630 | 16,448 |
Fair Value, Measurements, Recurring | Trust preferred securities | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Trust preferred securities | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | 17,630 | 16,448 |
Fair Value, Measurements, Recurring | Trust preferred securities | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Recurring Basis | ||
Total available for sale securities | $ 0 | $ 0 |
FAIR VALUE ACCOUNTING - Asset_2
FAIR VALUE ACCOUNTING - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets Measured on a Nonrecurring Basis | ||
Total | $ 8,788 | $ 6,486 |
Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 8,794 | 6,519 |
Foreclosed and repossessed assets, net | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 85 | 197 |
Foreclosed and repossessed assets, net | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Foreclosed and repossessed assets, net | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Foreclosed and repossessed assets, net | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 85 | 197 |
Impaired loans with allocated allowances | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 4,704 | 3,037 |
Impaired loans with allocated allowances | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Impaired loans with allocated allowances | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Impaired loans with allocated allowances | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 4,704 | 3,037 |
Mortgage servicing rights | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 3,999 | 3,252 |
Mortgage servicing rights | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Mortgage servicing rights | Significant Other Observable Inputs (Level 2) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | 0 | 0 |
Mortgage servicing rights | Significant Unobservable Inputs (Level 3) | ||
Assets Measured on a Nonrecurring Basis | ||
Total | $ 4,005 | $ 3,285 |
FAIR VALUE ACCOUNTING - Level 3
FAIR VALUE ACCOUNTING - Level 3 Fair Value Inputs (Details) $ in Thousands | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Discounted rates | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Servicing asset, measurement input | 0.09 | 0.09 |
Discounted rates | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Servicing asset, measurement input | 0.12 | 0.12 |
Fair Value, Inputs, Level 3 | Foreclosed and repossessed assets, net | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of loans receivable | $ 85 | $ 197 |
Fair Value, Inputs, Level 3 | Foreclosed and repossessed assets, net | Estimated costs to sell | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed and repossessed assets, impaired loans, measurement input | 0.10 | 0.10 |
Fair Value, Inputs, Level 3 | Foreclosed and repossessed assets, net | Estimated costs to sell | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed and repossessed assets, impaired loans, measurement input | 0.15 | 0.15 |
Fair Value, Inputs, Level 3 | Impaired loans with allocated allowances | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of loans receivable | $ 4,704 | $ 3,037 |
Fair Value, Inputs, Level 3 | Impaired loans with allocated allowances | Estimated costs to sell | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed and repossessed assets, impaired loans, measurement input | 0.10 | 0.10 |
Fair Value, Inputs, Level 3 | Impaired loans with allocated allowances | Estimated costs to sell | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed and repossessed assets, impaired loans, measurement input | 0.15 | 0.15 |
Fair Value, Inputs, Level 3 | Mortgage servicing rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of mortgage servicing rights; end of period | $ 4,005 | $ 3,285 |
Fair Value, Inputs, Level 3 | Mortgage servicing rights | Discounted rates | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Servicing asset, measurement input | 0.09 | 0.09 |
Fair Value, Inputs, Level 3 | Mortgage servicing rights | Discounted rates | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Servicing asset, measurement input | 0.12 | 0.12 |
FAIR VALUE ACCOUNTING - Carryin
FAIR VALUE ACCOUNTING - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financial assets: | ||
Securities available for sale “AFS” | $ 185,160 | $ 144,233 |
Securities held to maturity “HTM” | 55,786 | 43,784 |
Equity securities with readily determinable fair value | 297 | 200 |
Carrying Amount | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Financial assets: | ||
Cash and cash equivalents | 196,039 | 119,440 |
Equity securities with readily determinable fair value | 297 | 200 |
Accrued interest receivable | 5,464 | 5,652 |
Financial liabilities: | ||
Other borrowings | 58,354 | 58,328 |
Accrued interest payable | 603 | 796 |
Carrying Amount | Significant Other Observable Inputs (Level 2) | ||
Financial assets: | ||
Other interest-bearing deposits | 2,016 | 3,752 |
Securities available for sale “AFS” | 185,160 | 144,233 |
Securities held to maturity “HTM” | 57,419 | 43,551 |
Other investments | 15,069 | 14,948 |
Loans held for sale | 2,267 | 3,075 |
Financial liabilities: | ||
FHLB advances | 115,481 | 123,498 |
Carrying Amount | Significant Unobservable Inputs (Level 3) | ||
Financial assets: | ||
Loans receivable, net | 1,175,266 | 1,220,538 |
Mortgage servicing rights | 3,999 | 3,252 |
Financial liabilities: | ||
Deposits | 1,380,202 | 1,295,256 |
Estimated Fair Value | Quoted Prices in Active Markets for Identical Instruments (Level 1) | ||
Financial assets: | ||
Cash and cash equivalents | 196,039 | 119,440 |
Equity securities with readily determinable fair value | 297 | 200 |
Accrued interest receivable | 5,464 | 5,652 |
Financial liabilities: | ||
Other borrowings | 58,354 | 58,328 |
Accrued interest payable | 603 | 796 |
Estimated Fair Value | Significant Other Observable Inputs (Level 2) | ||
Financial assets: | ||
Other interest-bearing deposits | 2,062 | 3,818 |
Securities available for sale “AFS” | 185,160 | 144,233 |
Securities held to maturity “HTM” | 55,786 | 43,784 |
Other investments | 15,069 | 14,948 |
Loans held for sale | 2,267 | 3,075 |
Financial liabilities: | ||
FHLB advances | 118,996 | 128,282 |
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | ||
Financial assets: | ||
Loans receivable, net | 1,198,049 | 1,239,692 |
Mortgage servicing rights | 4,005 | 3,285 |
Financial liabilities: | ||
Deposits | $ 1,360,333 | $ 1,292,104 |
OTHER COMPREHENSIVE INCOME (L_3
OTHER COMPREHENSIVE INCOME (LOSS) - Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Before-Tax Amount | |||
Other comprehensive loss | $ (672) | $ (1,570) | |
Tax Expense | |||
Other comprehensive income (loss) | 186 | 432 | |
Net-of-Tax Amount | |||
Other comprehensive loss | (486) | (1,138) | $ 1,961 |
Unrealized Gains (Losses) on Securities | |||
Before-Tax Amount | |||
Net unrealized losses arising during the period | (672) | (1,643) | |
Reclassification adjustment for gains included in net income | 0 | 73 | |
Tax Expense | |||
Net unrealized losses arising during the period | 186 | 452 | |
Reclassification adjustment for gains included in net income | 0 | (20) | |
Net-of-Tax Amount | |||
Net unrealized losses arising during the period | (486) | (1,191) | |
Reclassification adjustment for gains included in net income | $ 0 | $ 53 |
OTHER COMPREHENSIVE INCOME (L_4
OTHER COMPREHENSIVE INCOME (LOSS) - Changes in the Accumulated Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Changes in the accumulated balances for each component of other comprehensive income | |||
Balance at beginning of period | $ 160,564 | $ 150,553 | $ 150,553 |
Current year-to-date other comprehensive income | (486) | (1,138) | 1,961 |
Balance at end of period | 160,662 | 147,933 | 160,564 |
Unrealized Gains (Losses) on Securities | |||
Changes in the accumulated balances for each component of other comprehensive income | |||
Balance at beginning of period | 2,056 | (649) | (649) |
Current year-to-date other comprehensive income | (672) | 2,705 | |
Balance at end of period | 1,384 | 2,056 | |
Other Accumulated Comprehensive Income (Loss), net of tax | |||
Changes in the accumulated balances for each component of other comprehensive income | |||
Balance at beginning of period | 1,490 | (471) | (471) |
Balance at end of period | $ 1,004 | $ (1,609) | $ 1,490 |
OTHER COMPREHENSIVE INCOME (L_5
OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Tax Effect | $ (1,945) | $ (937) | |||
Net income attributable to common stockholders | 5,506 | $ 3,570 | $ 3,480 | $ 3,069 | 2,606 |
Unrealized Gains (Losses) on Securities | Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Sale of securities | 0 | 73 | |||
Tax Effect | 0 | (20) | |||
Net income attributable to common stockholders | $ 0 | $ 53 |