Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | May 01, 2023 | |
Document Information Line Items | ||
Entity Registrant Name | ENB Financial Corp | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 5,642,823 | |
Amendment Flag | false | |
Entity Central Index Key | 0001437479 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Address, State or Province | PA | |
Entity File Number | 000-53297 | |
Entity Tax Identification Number | 51-0661129 | |
Entity Address, Address Line One | 31 E. Main St | |
Entity Address, City or Town | Ephrata | |
Entity Incorporation, State or Country Code | PA | |
Entity Address, Postal Zip Code | 17522-0457 | |
City Area Code | (717) | |
Local Phone Number | 733-4181 | |
Entity Information, Former Legal or Registered Name | Not Applicable | |
Entity Interactive Data Current | Yes |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
ASSETS | |||
Cash and due from banks | $ 27,271 | $ 28,935 | $ 21,123 |
Interest-bearing deposits in other banks | 19,179 | 8,637 | 58,031 |
Total cash and cash equivalents | 46,450 | 37,572 | 79,154 |
Securities available for sale (at fair value, net of allowance for credit losses of $0) | 494,683 | 529,142 | 589,493 |
Equity securities (at fair value) | 9,014 | 9,118 | 8,994 |
Loans held for sale | 875 | 5,927 | 2,223 |
Loans (net of unearned income) | 1,256,599 | 1,191,117 | 950,571 |
Less: Allowance for credit losses | 16,054 | 14,151 | 12,979 |
Net loans | 1,240,545 | 1,176,966 | 937,592 |
Premises and equipment | 25,350 | 25,333 | 24,385 |
Regulatory stock | 7,318 | 6,670 | 5,406 |
Bank owned life insurance | 34,992 | 34,805 | 35,574 |
Other assets | 29,624 | 33,183 | 22,327 |
Total assets | 1,888,851 | 1,858,716 | 1,705,148 |
Liabilities: | |||
Noninterest-bearing | 642,136 | 672,342 | 675,519 |
Interest-bearing | 1,007,472 | 966,616 | 842,438 |
Total deposits | 1,649,608 | 1,638,958 | 1,517,957 |
Short-term borrowings | 5,000 | 16,000 | |
Long-term debt | 78,639 | 58,039 | 44,206 |
Subordinated debt | 39,436 | 39,396 | 19,700 |
Other liabilities | 10,169 | 8,988 | 7,246 |
Total liabilities | 1,782,852 | 1,761,381 | 1,589,109 |
Stockholders' equity: | |||
Common stock, par value $0.10 Shares: Authorized 24,000,000 Issued 5,739,114 and Outstanding 5,646,154 as of 3/31/23, 5,635,533 as of 12/31/22, and 5,595,152 as of 3/31/22 | 574 | 574 | 574 |
Capital surplus | 4,341 | 4,437 | 4,544 |
Retained earnings | 143,542 | 142,677 | 134,098 |
Accumulated other comprehensive loss, net of tax | (40,633) | (48,292) | (20,298) |
Less: Treasury stock cost on 92,961 shares as of 3/31/23, 103,581 as of 12/31/22, and 143,962 as of 3/31/22 | (1,825) | (2,061) | (2,879) |
Total stockholders' equity | 105,999 | 97,335 | 116,039 |
Total liabilities and stockholders' equity | $ 1,888,851 | $ 1,858,716 | $ 1,705,148 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Statement of Financial Position [Abstract] | |||
Securities available for sale at fair value, net of credit losses (in Dollars) | $ 0 | $ 0 | $ 0 |
Common stock, par value (in Dollars per share) | $ 0.1 | $ 0.1 | $ 0.1 |
Common stock, shares authorized | 24,000,000 | 24,000,000 | 24,000,000 |
Common stock, shares issued | 5,739,114 | 5,739,114 | 5,739,114 |
Common stock, shares outstanding | 5,646,154 | 5,635,533 | 5,595,152 |
Less: Treasury stock shares | 92,961 | 103,581 | 143,962 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest and dividend income: | ||
Interest and fees on loans | $ 13,697 | $ 8,815 |
Interest on securities available for sale | ||
Taxable | 3,042 | 1,429 |
Tax-exempt | 789 | 1,029 |
Interest on deposits at other banks | 34 | 37 |
Dividend income | 255 | 94 |
Total interest and dividend income | 17,817 | 11,404 |
Interest expense: | ||
Interest on deposits | 2,844 | 252 |
Interest on borrowings | 1,169 | 431 |
Total interest expense | 4,013 | 683 |
Net interest income | 13,804 | 10,721 |
Provision for credit losses | 1,257 | 100 |
Net interest income after provision for credit losses | 12,547 | 10,621 |
Other income: | ||
Trust and investment services income | 785 | 671 |
Service fees | 900 | 588 |
Commissions | 895 | 869 |
(Losses) gains on the sale of debt securities, net | (410) | 139 |
Losses on equity securities, net | (196) | (8) |
Gains on sale of mortgages | 122 | 735 |
Earnings on bank-owned life insurance | 226 | 190 |
Other income | 332 | 492 |
Total other income | 2,654 | 3,676 |
Operating expenses: | ||
Salaries and employee benefits | 7,455 | 6,512 |
Occupancy | 736 | 718 |
Equipment | 344 | 265 |
Advertising & marketing | 274 | 279 |
Computer software & data processing | 1,782 | 1,138 |
Shares tax | 300 | 351 |
Professional services | 663 | 630 |
Other expense | 810 | 715 |
Total operating expenses | 12,364 | 10,608 |
Income before income taxes | 2,837 | 3,689 |
Provision for federal income taxes | 396 | 498 |
Net income | $ 2,441 | $ 3,191 |
Earnings per share of common stock (in Dollars per share) | $ 0.43 | $ 0.57 |
Cash dividends paid per share (in Dollars per share) | $ 0.17 | $ 0.17 |
Weighted average shares outstanding (in Shares) | 5,631,499 | 5,584,603 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Financial Position [Abstract] | ||
Net income | $ 2,441 | $ 3,191 |
Securities available for sale not other-than-temporarily impaired: | ||
Unrealized gains (losses) arising during the period | 9,284 | (29,909) |
Income tax effect | (1,949) | 6,280 |
Total | 7,335 | (23,629) |
Losses (gains) recognized in earnings | 410 | (139) |
Income tax effect | (86) | 29 |
Total | 324 | (110) |
Other comprehensive income (loss), net of tax | 7,659 | (23,739) |
Comprehensive Income/(Loss) | $ 10,100 | $ (20,548) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total |
Balances at Dec. 31, 2021 | $ 574 | $ 4,520 | $ 131,856 | $ 3,441 | $ (3,103) | $ 137,288 |
Net income | 3,191 | 3,191 | ||||
Other comprehensive income (loss) net of tax | (23,739) | (23,739) | ||||
Treasury stock issued | 24 | 224 | 248 | |||
Cash dividends paid | (949) | (949) | ||||
Balances at Mar. 31, 2022 | 574 | 4,544 | 134,098 | (20,298) | (2,879) | 116,039 |
Balances at Dec. 31, 2022 | 574 | 4,437 | 142,677 | (48,292) | (2,061) | 97,335 |
Cumulative effect of adoption of ASU 2016-13 | (619) | (619) | ||||
Net income | 2,441 | 2,441 | ||||
Other comprehensive income (loss) net of tax | 7,659 | 7,659 | ||||
Stock-based compensation expense | 14 | 14 | ||||
Treasury stock purchased | (147) | (147) | ||||
Treasury stock issued | (110) | 383 | 273 | |||
Cash dividends paid | (957) | (957) | ||||
Balances at Mar. 31, 2023 | $ 574 | $ 4,341 | $ 143,542 | $ (40,633) | $ (1,825) | $ 105,999 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parentheticals) - shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||
Treasury stock issued, shares | 19,523 | 11,196 |
Cash dividends paid, per share | 0.17 | 0.17 |
Treasury stock purchased, shares | 8,903 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 2,441 | $ 3,191 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization of securities premiums and discounts and loan fees | 1,196 | 1,196 |
Decrease (increase) in interest receivable | 91 | (542) |
Decrease in interest payable | 830 | 189 |
Provision for credit losses | 1,257 | 100 |
Losses (gains) on the sale of debt securities, net | 410 | (139) |
Losses on equity securities, net | 196 | 8 |
Gains on sale of mortgages | (122) | (735) |
Loans originated for sale | (4,252) | (14,483) |
Proceeds from sales of loans | 9,426 | 16,189 |
Earnings on bank-owned life insurance | (226) | (190) |
Depreciation of premises and equipment and amortization of software | 467 | 388 |
Deferred income tax | (244) | |
Amortization of deferred fees on subordinated debt | 40 | 20 |
Stock-based compensation expense | 14 | |
Other assets and other liabilities, net | 292 | 2,968 |
Net cash provided by operating activities | 11,816 | 8,160 |
Cash flows from investing activities: | ||
Proceeds from maturities, calls, and repayments | 14,544 | 13,344 |
Proceeds from sales | 28,116 | 8,575 |
Purchases | (84,513) | |
Equity securities | ||
Proceeds from sales | 150 | |
Purchases | (92) | (170) |
Purchase of regulatory bank stock | (885) | (128) |
Redemptions of regulatory bank stock | 237 | 102 |
Proceeds from bank-owned life insurance | 2,083 | |
Net increase in loans | (65,567) | (29,629) |
Purchases of premises and equipment, net | (395) | (229) |
Purchase of computer software | (398) | |
Net cash used for investing activities | (22,357) | (92,498) |
Cash flows from financing activities: | ||
Net (decrease) increase in demand, NOW, and savings accounts | (14,622) | 5,536 |
Net increase in time deposits | 25,272 | 208 |
Net decrease in short-term borrowings | (11,000) | |
Proceeds from long-term debt | 20,600 | |
Dividends paid | (957) | (949) |
Proceeds from sale of treasury stock | 273 | 248 |
Treasury stock purchased | (147) | |
Net cash provided by financing activities | 19,419 | 5,043 |
Increase (decrease) in cash and cash equivalents | 8,878 | (79,295) |
Cash and cash equivalents at beginning of period | 37,572 | 158,449 |
Cash and cash equivalents at end of period | 46,450 | 79,154 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 3,183 | 494 |
Income taxes paid | 450 | |
Supplemental disclosure of non-cash investing and financing activities: | ||
Fair value adjustments for securities available for sale | 9,696 | (30,048) |
Recognition of lease operating right-of-use assets | 1,647 | |
Recognition of operating lease liabilities | $ 1,647 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and to general practices within the banking industry. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all significant adjustments considered necessary for fair presentation have been included. Certain items previously reported have been reclassified to conform to the current period’s reporting format. Such reclassifications did not affect net income or stockholders’ equity. ENB Financial Corp (“the Corporation”) is the bank holding company for its wholly-owned subsidiary Ephrata National Bank (the “Bank”). Ephrata National Bank has one wholly-owned subsidiary, ENB Insurance, LLC that is consolidated into its financial statements. This Form 10-Q, for the first quarter of 2023, is reporting on the results of operations and financial condition of ENB Financial Corp on a consolidated basis. Operating results for the three months ended March 31, 2023, are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. For further information, refer to the consolidated financial statements and footnotes thereto included in ENB Financial Corp’s Annual Report on Form 10-K for the year ended December 31, 2022. Accounting Pronouncements Adopted in 2023 In June 2016, the FASB issued ASU No. 2016-13, " Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" The Corporation adopted this guidance, and subsequent related updates, using the modified retrospective approach for all financial assets measured at amortized cost, including loans, available-for-sale debt securities and unfunded commitments. On January 1, 2023, the Corporation recorded a cumulative effect decrease to retained earnings of $619,000, net of tax, of which $537,000 related to loans, $82,000 related to unfunded commitments, and $0 related to available-for-sale securities. The Corporation has elected to exclude accrued interest receivable from the measurement of its allowance for credit losses (ACL). When a loan is placed on nonaccrual status, any outstanding accrued interest is reversed against interest income. The Corporation adopted the provisions of ASC 326 related to presenting other-than-temporary impairment on available-for-sale debt securities prior to January 1, 2023, using the prospective transition approach, though no such charges had been recorded on the securities held by the Corporation as of the date of adoption. In connection with the adoption of ASU 2016-13, the Corporation made changes to the loan portfolio segments to align with the methodology applied in determining the allowance under CECL. Refer to Note 5 Loans and Allowance for Credit Losses for further discussion of these portfolio segments. The new segmentation consists of: Agriculture, Business Loans, Consumer Loans, Home Equity, Non-Owner Occupied Commercial Real Estate, and Residential Real Estate. The impact of the change from the incurred loss model to the current expected credit loss model and the reclassification of loans for the identification of new portfolio loan segments under CECL is detailed below (in thousands). January 1, 2023 Pre-adoption Adoption Impact As Reported Assets $ $ $ ACL on debt securities available for sale — — — ACL on loans Commercial Real Estate 6,074 (6,074 ) — Consumer Real Estate 5,442 (5,442 ) — Commercial and Industrial 2,151 (2,151 ) — Consumer 67 183 250 Agriculture — 3,537 3,537 Business Loans — 3,382 3,382 Home Equity — 2,129 2,129 Non-Owner Occupied CRE — 875 875 Residential Real Estate — 4,658 4,658 Unallocated 417 (417 ) — 14,151 680 14,831 Liabilities ACL for unfunded commitments 1,017 103 1,120 $ 15,168 $ 783 $ 15,951 Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designation as of each balance sheet date. Investment securities classified as available for sale are those securities that the Corporation intends to hold for an indefinite period of time but not necessarily to maturity. Securities available for sale are carried at fair value. Any decision to sell a security classified as available for sale would be based on various factors, including significant movements in interest rates, changes in the maturity mix of the Corporation’s assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Unrealized gains or losses are reported as increases or decreases in other comprehensive income (loss), net of the deferred tax effect. Realized gains or losses, determined on the basis of the cost of the specific securities sold, are included in earnings. Premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The Corporation classifies all of its securities as available for sale. Equity securities are measured at fair value with changes in fair value recognized in net income. Allowance for Credit Losses – Available for Sale Securities The Corporation measures expected credit losses on available-for-sale debt securities when the Corporation does not intend to sell, or when it is not more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Corporation considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this evaluation indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, equal to the amount that the fair value is less than the amortized cost basis. Economic forecast data is utilized to calculate the present value of expected cash flows. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income (loss). The allowance for credit losses on available-for-sale debt securities is included within investment securities available-for-sale on the consolidated balance sheet. Changes in the allowance for credit losses are recorded within the provision for credit losses on the consolidated statement of income. Losses are charged against the allowance when the Corporation believes the collectability of an available-for-sale security is in jeopardy or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on available-for-sale debt securities totaled $3,700,000 at March 31, 2023, and is included within on the consolidated balance sheet. This amount is excluded from the estimate of expected credit losses. Available-for-sale debt securities are typically classified as nonaccrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When available-for-sale debt securities are placed on nonaccrual status, unpaid interest credited to income is reversed. Loans Receivable Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of an allowance for credit losses and any deferred fees or costs. Accrued interest receivable totaled $2,764,000 at March 31, 2023, and was reported in Other Assets on the Consolidated Balance Sheets and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Corporation is amortizing these amounts over the contractual life of the loan. Premiums and discounts on purchased loans are amortized as adjustments to interest income using the effective yield method. The loans receivable portfolio is segmented into Agriculture, Business Loans, Consumer Loans, Home Equity, Non-Owner Occupied Commercial Real Estate (CRE), and Residential Real Estate. For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for credit losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income on a cash basis, according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months), and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. Allowance for Credit Losses - Loans The allowance for credit losses (ACL) is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. The ACL is an estimate of expected credit losses, measured over the contractual life of a loan, that considers historical loss experience, current conditions, and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans. The ACL is measured on a collective (pool) basis when similar risk characteristics exist. The Corporation measures the ACL using the following methods. Historical credit loss experience is the basis for the estimation of expected credit losses. The Corporation applies historical loss rates to pools of loans with similar risk characteristics. After consideration of the historic loss calculation, management applies qualitative adjustments to reflect the current conditions and reasonable and supportable forecasts not already reflected in the historical loss information at the balance sheet date. Reasonable and supportable forecast adjustment is based on the unemployment forecast, BBB Rated Corporate Bond Spread, GDP Growth, Retail Sales, Asset Prices, and Management Judgement. The reasonable and supportable period is the life of the loan as credit loss models used produce reasonable estimates of losses over the life of the loan. The qualitative adjustments for current conditions are based upon changes in lending policies and procedures, loan portfolio trends, lending management experience, asset quality, loan review, underlying collateral, credit concentrations, and external factors. These modified historical loss rates are multiplied by the outstanding principal balance of each loan to calculate a required reserve. The Corporation has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on nonaccrual status, any outstanding accrued interest is reversed against interest income. The ACL for individual loans begins with the use of normal credit review procedures to identify whether a loan no longer shares similar risk characteristics with other pooled loans and therefore should be individually assessed. Commercial loans are evaluated if they meet the following criteria: 1) when it is determined that foreclosure is probable, 2) substandard, doubtful and nonperforming loans when repayment is expected to be provided substantially through the operation or sale of the collateral, 3) when it is determined by management that a loan does not share similar risk characteristics with other loans. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Corporation. The allowance for credit losses on off-balance sheet credit exposures is adjusted through credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | 2. Revenue from Contracts with Customers The Corporation records revenue from contracts with customers in accordance with Accounting Standards Topic 606, Revenue from Contracts with Customers (Topic 606). The Corporation’s primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not within the scope of Topic 606. The Corporation has evaluated the nature of its contracts with customers and determined that further disaggregation of revenue from contracts with customers into more granular categories beyond what is presented in the Consolidated Statements of Income was not necessary. The Corporation generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 that significantly affects the determination of the amount and timing of revenue from contracts with customers. |
Securities Available for Sale
Securities Available for Sale | 3 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | 3. Securities Available for Sale The amortized cost, gross unrealized gains and losses, approximate fair value, and allowance for credit losses of investment securities held at March 31, 2023, are as follows: Gross Gross Allowance (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized for Credit Fair Cost Gains Losses Losses Value $ $ $ $ $ March 31, 2023 U.S. treasuries 35,756 — (2,562 ) — 33,194 U.S. government agencies 26,404 — (2,406 ) — 23,998 U.S. agency mortgage-backed securities 48,494 — (4,107 ) — 44,387 U.S. agency collateralized mortgage obligations 25,955 — (2,343 ) — 23,612 Non-agency MBS/CMO 52,594 — (3,829 ) — 48,765 Asset-backed securities 72,441 18 (2,341 ) — 70,118 Corporate bonds 70,541 — (6,545 ) — 63,996 Obligations of states and political subdivisions 213,933 1 (27,321 ) — 186,613 Total securities available for sale 546,118 19 (51,454 ) — 494,683 The amortized cost, gross unrealized gains and losses, and approximate fair value of investment securities held at December 31, 2022, are as follows: Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ December 31, 2022 U.S. Treasuries 35,737 — (3,080 ) 32,657 U.S. government agencies 27,605 — (2,818 ) 24,787 U.S. agency mortgage-backed securities 49,939 — (4,632 ) 45,307 U.S. agency collateralized mortgage obligations 30,193 — (2,703 ) 27,490 Non-agency MBS/CMO 53,900 — (3,650 ) 50,250 Asset-backed securities 76,110 16 (2,892 ) 73,234 Corporate bonds 76,685 10 (7,064 ) 69,631 Obligations of states and political subdivisions 240,102 10 (34,326 ) 205,786 Total securities available for sale 590,271 36 (61,165 ) 529,142 The amortized cost and fair value of securities available for sale at March 31, 2023, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to certain call or prepayment provisions. CONTRACTUAL MATURITY OF DEBT SECURITIES (DOLLARS IN THOUSANDS) Amortized Cost Fair Value $ $ Due in one year or less 13,005 12,797 Due after one year through five years 112,909 103,936 Due after five years through ten years 73,851 64,415 Due after ten years 346,353 313,535 Total debt securities 546,118 494,683 Securities available for sale with a par value of $147,218,000 and $116,179,000 at March 31, 2023, and December 31, 2022, respectively, were pledged or restricted for public funds, borrowings, or other purposes as required by law. The fair value of these pledged securities was $137,441,000 at March 31, 2023, and $107,071,000 at December 31, 2022. Proceeds from active sales of securities available for sale, along with the associated gross realized gains and gross realized losses, are shown below. Realized gains and losses are computed on the basis of specific identification. PROCEEDS FROM SALES OF SECURITIES AVAILABLE FOR SALE (DOLLARS IN THOUSANDS) Three Months Ended March 31, 2023 2022 $ $ Proceeds from sales 28,116 8,575 Gross realized gains 4 139 Gross realized losses (414 ) — Information pertaining to securities with gross unrealized losses at March 31, 2023, for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: TEMPORARY IMPAIRMENTS OF SECURITIES (DOLLARS IN THOUSANDS) Less than 12 months More than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses $ $ $ $ $ $ As of March 31, 2023 U.S. Treasuries — — 33,194 (2,562 ) 33,194 (2,562 ) U.S. government agencies — — 23,998 (2,406 ) 23,998 (2,406 ) U.S. agency mortgage-backed securities 1,312 (82 ) 43,075 (4,025 ) 44,387 (4,107 ) U.S. agency collateralized mortgage obligations 650 (19 ) 22,962 (2,324 ) 23,612 (2,343 ) Non-Agency MBS/CMO 33,907 (2,165 ) 14,858 (1,664 ) 48,765 (3,829 ) Asset-backed securities 10,247 (242 ) 58,201 (2,099 ) 68,448 (2,341 ) Corporate bonds 12,320 (432 ) 51,676 (6,113 ) 63,996 (6,545 ) Obligations of states & political subdivisions 1,025 (26 ) 185,019 (27,295 ) 186,044 (27,321 ) Total temporarily impaired securities 59,461 (2,966 ) 432,983 (48,488 ) 492,444 (51,454 ) Information pertaining to securities with gross unrealized losses at December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: TEMPORARY IMPAIRMENTS OF SECURITIES (DOLLARS IN THOUSANDS) Less than 12 months More than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses $ $ $ $ $ $ As of December 31, 2022 U.S. Treasuries 19,721 (1,169 ) 12,936 (1,911 ) 32,657 (3,080 ) U.S. government agencies 1,953 (52 ) 21,634 (2,766 ) 23,587 (2,818 ) U.S. agency mortgage-backed securities 24,667 (1,653 ) 20,640 (2,979 ) 45,307 (4,632 ) U.S. agency collateralized mortgage obligations 9,984 (500 ) 17,453 (2,203 ) 27,437 (2,703 ) Non-Agency MBS/CMO 50,250 (3,650 ) — — 50,250 (3,650 ) Asset-backed securities 29,283 (1,028 ) 42,032 (1,864 ) 71,315 (2,892 ) Corporate bonds 15,197 (1,230 ) 43,417 (5,834 ) 58,614 (7,064 ) Obligations of states & political subdivisions 103,200 (10,949 ) 100,575 (23,377 ) 203,775 (34,326 ) Total temporarily impaired securities 254,255 (20,231 ) 258,687 (40,934 ) 512,942 (61,165 ) In the debt security portfolio there were 337 positions carrying unrealized losses as of March 31, 2023. Management evaluates all of the Corporation’s securities for expected credit losses. No securities in the portfolio required an allowance for credit losses to be recorded in the first three months of 2023 and no impairment was recorded in the first three months of 2022. Unrealized losses on the Corporation’s available-for-sale debt securities have not been recognized into income because the bonds are of high credit quality, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is solely due to changes in interest rates and other market conditions. The issuers continue to make timely principal and interest payments on the bonds. The fair value is expected to recover as the bonds approach maturity. |
Equity Securities
Equity Securities | 3 Months Ended |
Mar. 31, 2023 | |
Stockholders' Equity Note [Abstract] | |
Equity Securities | 4. Equity Securities The following table summarizes the amortized cost, gross unrealized gains and losses, and fair value of equity securities held at March 31, 2023 and December 31, 2022. Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ March 31, 2023 CRA-qualified mutual funds 7,419 — — 7,419 Bank stocks 1,703 60 (168 ) 1,595 Total equity securities 9,122 60 (168 ) 9,014 Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ December 31, 2022 CRA-qualified mutual funds 7,345 — — 7,345 Bank stocks 1,685 162 (74 ) 1,773 Total equity securities 9,030 162 (74 ) 9,118 The following table presents the net gains and losses on the Corporation’s equity investments recognized in earnings during the three months ended March 31, 2023 and 2022, and the portion of unrealized gains and losses for the period that relates to equity investments held as of March 31, 2023 and 2022. NET GAINS AND LOSSES ON EQUITY INVESTMENTS RECOGNIZED IN EARNINGS (DOLLARS IN THOUSANDS) Three Months Ended March 31, 2023 2022 $ $ Net losses recognized in equity securities during the period (196 ) (8 ) Less: Net gains realized on the sale of equity securities during the period — 51 Unrealized losses recognized in equity securities held at reporting date (196 ) (59 ) |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses | 5. Loans and Allowance for Credit Losses The following table presents the Corporation’s loan portfolio by category of loans as of March 31, 2023 (in thousands): March 31, 2023 $ Agriculture 240,006 Business Loans 353,537 Consumer 6,061 Home Equity 100,743 Non-Owner Occupied Commercial Real Estate 119,412 Residential Real Estate (a) 434,215 Gross loans prior to deferred costs 1,253,974 Deferred loan costs, net 2,625 Allowance for credit losses (16,054 ) Total net loans (b) 1,240,545 (a) Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $295,917,000 as of March 31, 2023. (b) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to the adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The following table presents the Corporation’s loan portfolio, prior to the adoption of ASC 326, by category of loans and the impact of the change from the adoption of the standard (in thousands): Post Adoption December 31, Adoption January, 1 2022 Impact 2023 $ $ $ Agriculture — 238,734 238,734 Business Loans — 336,340 336,340 Home Equity — 98,854 98,854 Non-Owner Occupied CRE — 111,333 111,333 Residential Real Estate (a) — 397,260 397,260 Commercial real estate Commercial mortgages 210,823 (210,823 ) — Agriculture mortgages 221,167 (221,167 ) — Construction 86,793 (86,793 ) — Total commercial real estate 518,783 (518,783 ) — Consumer real estate (a) 1-4 family residential mortgages 410,301 (410,301 ) — Home equity loans 11,937 (11,937 ) — Home equity lines of credit 98,349 (98,349 ) — Total consumer real estate 520,587 (520,587 ) — Commercial and industrial Commercial and industrial 87,528 (87,528 ) — Tax-free loans 28,664 (28,664 ) — Agriculture loans 27,122 (27,122 ) — Total commercial and industrial 143,314 (143,314 ) — Consumer 5,769 163 5,932 Gross loans prior to deferred fees 1,188,453 — 1,188,453 Deferred loan costs, net 2,664 Allowance for credit losses (14,151 ) Total net loans 1,176,966 (a) Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $298,375,000 as of December 31, 2022. Age Analysis of Past-Due Loans Receivable The performance and credit quality of the loan portfolio is monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past-due status as of March 31, 2023 (in thousands): March 31, 2023 31-60 61-90 Greater Than Days Days 90 Days Total Total Current Past Due Past Due Past Due Past Due Loans Agriculture $ 239,264 $ 473 $ — $ 269 $ 742 $ 240,006 Business Loans 353,325 58 — 154 212 353,537 Consumer 5,994 31 1 35 67 6,061 Home Equity 100,566 154 23 — 177 100,743 Non-Owner Occupied CRE 119,412 — — — — 119,412 Residential Real Estate 433,737 341 — 137 478 434,215 Total (a) $ 1,252,298 $ 1,057 $ 24 $ 595 $ 1,676 $ 1,253,974 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The following table presents the classes of the loan portfolio summarized by the past-due status as of December 31, 2022 (in thousands): December 31, 2022 Loans Greater Receivable > 30-59 Days 60-89 Days than 90 Total Past Total Loans 90 Days and Past Due Past Due Days Due Current Receivable Accruing $ $ $ $ $ $ $ Commercial real estate Commercial mortgages — — 554 554 210,269 210,823 — Agriculture mortgages — — 2,787 2,787 218,380 221,167 — Construction — — — — 86,793 86,793 — Consumer real estate 1-4 family residential mortgages 905 — 447 1,352 408,949 410,301 139 Home equity loans 17 — 339 356 11,581 11,937 — Home equity lines of credit 165 16 — 181 98,168 98,349 — Commercial and industrial Commercial and industrial — — 190 190 87,338 87,528 — Tax-free loans — — — — 28,664 28,664 — Agriculture loans — — — — 27,122 27,122 — Consumer 9 5 30 44 5,725 5,769 30 Total 1,096 21 4,347 5,464 1,182,989 1,188,453 169 Nonperforming Loans The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of March 31, 2023, (in thousands): Nonaccrual Nonaccrual Loans Past with no with Total Due Over 90 Days Total ACL ACL Nonaccrual Still Accruing Nonperforming Agriculture $ 1,005 $ — $ 1,005 $ 269 $ 1,274 Business Loans 2,509 — 2,509 — 2,509 Consumer Loans — — — 35 35 Home Equity — — — — — Non-Owner Occupied CRE — — — — — Residential Real Esate — — — 137 137 Total (a) $ 3,514 $ — $ 3,514 $ 441 $ 3,955 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The following table presents nonaccrual loans by classes of the loan portfolio as of December 31, 2022 (in thousands): Nonaccrual Loans December 31, 2022 $ Commercial real estate Commercial mortgages 554 Agriculture mortgages 2,787 Construction — Consumer real estate 1-4 family residential mortgages 308 Home equity loans 339 Home equity lines of credit — Commercial and industrial Commercial and industrial 190 Tax-free loans — Agriculture loans — Consumer — Total 4,178 Credit Quality Indicators The Corporation grades commercial credits differently than consumer credits. The following tables represent all of the Corporation’s commercial credit exposures by internally assigned grades as of March 31, 2023 and December 31, 2022. The grading analysis estimates the capability of the borrower to repay the contractual obligations under the loan agreements as scheduled. The Corporation's internal commercial credit risk grading system is based on experiences with similarly graded loans. The Corporation's internally assigned grades for commercial credits are as follows: ● Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. ● Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem, if not corrected. ● Substandard – loans that have a well-defined weakness based on objective evidence and characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. ● Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. ● Loss – loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. Based on the most recent analysis performed, the following table presents the recorded investment by internal risk rating system for Commercial Credit exposure as of March 31, 2023 (in thousands): Revolving Revolving Term Loans Amortized Costs Basis by Origination Year Loans Loans Amortized Converted March 31, 2023 2023 2022 2021 2020 2019 Prior Cost Basis to Term Total Agriculture Risk Rating Pass $ 9,568 $ 45,812 $ 52,338 $ 21,590 $ 16,144 $ 65,217 $ 23,566 $ — $ 234,235 Special Mention — 74 505 — 199 1,246 76 — 2,100 Substandard — — — 763 288 2,585 35 — 3,671 Doubtful — — — — — — — — — Total $ 9,568 $ 45,886 $ 52,843 $ 22,353 $ 16,631 $ 69,048 $ 23,677 $ — $ 240,006 Agriculture Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Business Loans Risk Rating Pass $ 18,194 $ 104,502 $ 72,834 $ 40,876 $ 17,883 $ 54,141 $ 37,884 $ — $ 346,314 Special Mention — — — — — — — — — Substandard 3,036 1,622 — 317 — 1,308 940 — 7,223 Doubtful — — — — — — — — — Total $ 21,230 $ 106,124 $ 72,834 $ 41,193 $ 17,883 $ 55,449 $ 38,824 $ — $ 353,537 Business Loans Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Non-Owner Occupied CRE Risk Rating Pass $ 7,587 $ 42,243 $ 26,412 $ 13,336 $ 8,062 $ 13,887 $ 4,605 $ — $ 116,132 Special Mention — 548 — — — — — — 548 Substandard — — — — 2,413 319 — — 2,732 Doubtful — — — — — — — — — Total $ 7,587 $ 42,791 $ 26,412 $ 13,336 $ 10,475 $ 14,206 $ 4,605 $ — $ 119,412 Non-Owner Occupied CRE Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total Risk Rating Pass $ 35,349 $ 192,557 $ 151,584 $ 75,802 $ 42,089 $ 133,245 $ 66,055 $ — $ 696,681 Special Mention — 622 505 — 199 1,246 76 — 2,648 Substandard 3,036 1,622 — 1,080 2,701 4,212 975 — 13,626 Doubtful — — — — — — — — — Total (a) $ 38,385 $ 194,801 $ 152,089 $ 76,882 $ 44,989 $ 138,703 $ 67,106 $ — $ 712,955 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The following table presents the recorded investment in loans by internal risk rating system for Commercial Credit Exposure as of December 31, 2022 in accordance with ASC 310 (in thousands): December 31, 2022 Commercial Agriculture Construction Commercial Tax-free Agriculture Total $ $ $ $ $ $ $ Grade: Pass 209,534 214,905 83,240 85,977 28,664 26,749 649,069 Special Mention — 1,966 3,553 893 — 132 6,544 Substandard 1,289 4,296 — 658 — 241 6,484 Doubtful — — — — — — — Loss — — — — — — — Total 210,823 221,167 86,793 87,528 28,664 27,122 662,097 For consumer loans, the Corporation evaluates credit quality based on whether the loan is considered performing or non-performing. Non-performing loans consist of those loans greater than 90 days delinquent and nonaccrual loans. The following table presents the balances of consumer loans by classes of the loan portfolio based on payment performance as of March 31, 2023 (in thousands): Revolving Revolving Term Loans Amortized Costs Basis by Origination Year Loans Loans Amortized Converted March 31, 2023 2023 2022 2021 2020 2019 Prior Cost Basis to Term Total Consumer Payment Performance Performing $ 1,670 $ 1,756 $ 747 $ 336 $ 82 $ 8 $ 1,427 $ — $ 6,026 Nonperforming — 7 21 — — 7 — — 35 Total $ 1,670 $ 1,763 $ 768 $ 336 $ 82 $ 15 $ 1,427 $ — $ 6,061 Consumer Current period gross charge-offs $ — $ — $ — $ — $ 1 $ — $ — $ — $ 1 Home equity Payment Performance Performing $ — $ 20,660 $ 1,151 $ 659 $ 618 $ 2,393 $ 72,563 $ 2,699 $ 100,743 Nonperforming — — — — — — — — — Total $ — $ 20,660 $ 1,151 $ 659 $ 618 $ 2,393 $ 72,563 $ 2,699 $ 100,743 Home equity Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Real Estate Payment Performance Performing $ 30,002 $ 161,355 $ 111,396 $ 46,244 $ 34,016 $ 51,065 $ — $ — $ 434,078 Nonperforming — — — — — 137 — — 137 Total $ 30,002 $ 161,355 $ 111,396 $ 46,244 $ 34,016 $ 51,202 $ — $ — $ 434,215 Residential Real Estate Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total Payment Performance Performing $ 34,373 $ 183,771 $ 113,294 $ 47,239 $ 34,716 $ 53,466 $ 73,990 $ — $ 540,849 Nonperforming — 7 21 — — 144 — — 172 Total (a) $ 34,373 $ 183,778 $ 113,315 $ 47,239 $ 34,716 $ 53,610 $ 73,990 $ — $ 541,021 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The following table presents the balances of consumer loans by classes of the loan portfolio based on payment performance as of December 31, 2022 in accordance with ASC 310 (in thousands): December 31, 2022 1-4 Family Home Equity Home Equity Consumer Total Payment performance: $ $ $ $ $ Performing 409,854 11,598 98,349 5,739 525,539 Non-performing 447 339 — 30 816 Total 410,301 11,937 98,349 5,769 526,355 As of December 31, 2022, all of the Corporation’s commercial loans on nonaccrual status were also considered impaired. Information with respect to impaired loans for the three months ended March 31, 2022, in accordance with ASC 310 is as follows: Three Months Ended March 31 2022 $ Average recorded balance of impaired loans 2,878 Interest income recognized on impaired loans 8 The following tables summarize information regarding impaired loans by loan portfolio class as of December 31, 2022, in accordance with ASC 310: IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) December 31, 2022 Recorded Unpaid Related $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 1,201 1,271 — Agriculture mortgages 3,229 3,348 — Construction — — — Total commercial real estate 4,430 4,619 — Commercial and industrial Commercial and industrial 190 199 — Tax-free loans — — — Agriculture loans — — — Total commercial and industrial 190 199 — Total with no related allowance 4,620 4,818 — With an allowance recorded: Commercial real estate Commercial mortgages — — — Agriculture mortgages — — — Construction — — — Total commercial real estate — — — Commercial and industrial Commercial and industrial — — — Tax-free loans — — — Agriculture loans — — — Total commercial and industrial — — — Total with a related allowance — — — Total by loan class: Commercial real estate Commercial mortgages 1,201 1,271 — Agriculture mortgages 3,229 3,348 — Construction — — — Total commercial real estate 4,430 4,619 — Commercial and industrial Commercial and industrial 190 199 — Tax-free loans — — — Agriculture loans — — — Total commercial and industrial 190 199 — Total 4,620 4,818 — Allowance for Credit Losses The following table presents the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2023 (in thousands): Impact of Beginning adopting Provisions Ending Balance ASC 326 Charge-offs Recoveries (Reductions) Balance Allowance for credit losses: Commercial Real Estate $ 6,074 $ (6,074 ) $ — $ — $ — $ — Consumer Real Estate 5,442 (5,442 ) — — — — Commerical & Industrial 2,151 (2,151 ) — — — — Consumer 67 (67 ) — — — — Agriculture — 3,537 — 63 (9 ) 3,591 Business Loans — 3,382 — 13 78 3,473 Consumer Loans — 250 (1 ) — 21 270 Home Equity — 2,129 — — 189 2,318 Non-Owner Occupied CRE — 875 — — 67 942 Residential Real Estate — 4,658 — 1 801 5,460 Unallocated 417 (417 ) — — — — Total (a) $ 14,151 $ 680 $ (1 ) $ 77 $ 1,147 $ 16,054 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. During the three months ended March 31, 2023, management charged off $1,000 in loans while recovering $77,000 and added $1,147,000 to the provision for credit losses related to loans and added $110,000 to the provision for off-balance sheet credit exposure for a combined provision of $1,257,000. The ACL is maintained at a level determined to be adequate to absorb estimated expected credit losses within the loan portfolio over the contractual life of an instrument that considers our historical loss experience, current conditions, and forecasts of future economic conditions as of the balance sheet date. The Corporation develops and documents a systematic ACL methodology based on the following portfolio segments: Agriculture, Business Loans, Consumer Loans, Home Equity, Non-Owner Occupied CRE, and Residential Real Estate. The following are key risks within each portfolio segment: Agriculture – Business Loans Consumer - Home Equity – Non-Owner Occupied CRE - Residential Real Estate The following table details activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2022: ALLOWANCE FOR CREDIT LOSSES (DOLLARS IN THOUSANDS) Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Beginning balance - December 31, 2021 6,263 3,834 2,112 87 635 12,931 Charge-offs (65 ) — — (1 ) — (66 ) Recoveries — 3 10 1 — 14 Provision (90 ) 41 193 (16 ) (28 ) 100 Balance - March 31, 2022 6,108 3,878 2,315 71 607 12,979 During the three months ended March 31, 2022, management charged off $66,000 in loans while recovering $14,000 and added $100,000 to the provision. During the three months ended March 31, 2022, net provision expense was recorded for the commercial real estate sector as well as the consumer sector with credit provisions recorded for the consumer real estate and commercial and industrial sectors. The higher provision in the commercial real estate sector was due to growth in this portfolio of loans since December 31, 2021, as well as an increase in the qualitative factor related to the trends in the nature and volume of this sector. There were minimal charge-offs and recoveries recorded during the three months ended March 31, 2022, so the provision expense was primarily related to an increase in loan balances as well as slightly higher unallocated portion of the allowance. The following table presents the balance in the allowance for credit losses and the recorded investment in loans receivable by portfolio segment based on impairment method as of March 31, 2023: ALLOWANCE FOR CREDIT LOSSES AND RECORDED INVESTMENT IN LOANS RECEIVABLE (DOLLARS IN THOUSANDS) As of March 31, 2023: Agriculture Business Consumer Home Non- Residential Total $ $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated — — — — — — — Ending balance: collectively evaluated 3,591 3,473 270 2,318 942 5,460 16,054 Loans receivable: Ending balance 240,006 353,537 6,061 100,743 119,412 434,215 1,253,974 Ending balance: individually evaluated 2,591 1,351 — — — — 3,942 Ending balance: collectively evaluated 237,415 352,186 6,061 100,743 119,412 434,215 1,250,032 The following table presents the balance in the allowance for credit losses and the recorded investment in loans receivable by portfolio segment based on impairment method as of December 31, 2022: ALLOWANCE FOR CREDIT LOSSES AND RECORDED INVESTMENT IN LOANS RECEIVABLE (DOLLARS IN THOUSANDS) As of December 31, 2022: Commercial Real Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated for impairment — — — — — — Ending balance: collectively evaluated for impairment 6,074 5,442 2,151 67 417 14,151 Loans receivable: Ending balance 518,783 520,587 143,314 5,769 1,188,453 Ending balance: individually evaluated for impairment 4,430 — 190 — 4,620 Ending balance: collectively evaluated for impairment 514,353 520,587 143,124 5,769 1,183,833 |
Fair Value Presentation
Fair Value Presentation | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Presentation | 6. Fair Value Presentation U.S. generally accepted accounting principles establish a hierarchal disclosure framework associated with the level of observable pricing utilized in measuring assets and liabilities at fair value. The three broad levels defined by the hierarchy are as follows: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no observable pricing as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. The following tables provide the fair market value for assets required to be measured and reported at fair value on a recurring basis on the Consolidated Balance Sheets as of March 31, 2023, and December 31, 2022, by level within the fair value hierarchy. As required by U.S. generally accepted accounting principles, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) March 31, 2023 Level I Level II Level III Total $ $ $ $ U.S. treasuries 33,194 — — 33,194 U.S. government agencies — 23,998 — 23,998 U.S. agency mortgage-backed securities — 44,387 — 44,387 U.S. agency collateralized mortgage obligations — 23,612 — 23,612 Non-agency MBS/CMO — 48,765 — 48,765 Asset-backed securities — 70,118 — 70,118 Corporate bonds — 63,996 — 63,996 Obligations of states & political subdivisions — 186,613 — 186,613 Equity securities 9,014 — — 9,014 Total securities 42,208 461,489 — 503,697 On March 31, 2023, the Corporation held no securities valued using level III inputs. All of the Corporation’s debt instruments were valued using level II inputs, where quoted prices are available and observable, but not necessarily quotes on identical securities traded in active markets on a daily basis. The Corporation’s U.S. Treasury bonds, CRA fund investments, and bank stocks are fair valued utilizing level I inputs because the funds have their own quoted prices in an active market. As of March 31, 2023, the CRA fund investments had a $7,419,000 book and fair market value and the bank stock portfolio had a book value of $1,703,000, and fair market value of $1,595,000. Financial instruments are considered level III when their values are determined using pricing models, discounted cash flow methodologies, or similar techniques, and at least one significant model assumption or input is unobservable. In addition to these unobservable inputs, the valuation models for level III financial instruments typically also rely on a number of inputs that are readily observable either directly or indirectly. Level III financial instruments also include those for which the determination of fair value requires significant management judgment or estimation. ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) December 31, 2022 Level I Level II Level III Total $ $ $ $ U.S. Treasuries 32,657 — 32,657 U.S. government agencies — 24,787 — 24,787 U.S. agency mortgage-backed securities — 45,307 — 45,307 U.S. agency collateralized mortgage obligations — 27,490 — 27,490 Non-agency MBS/CMO — 50,250 — 50,250 Asset-backed securities — 73,234 — 73,234 Corporate bonds — 69,631 — 69,631 Obligations of states & political subdivisions — 205,786 — 205,786 Equity securities 9,118 — — 9,118 Total securities 41,775 496,485 — 538,260 On December 31, 2022, the Corporation held no securities valued using level III inputs. All of the Corporation’s debt instruments were valued using level II inputs, where quoted prices are available and observable but not necessarily quotes on identical securities traded in active markets on a daily basis. The Corporation’s U.S. Treasury bonds, CRA fund investments, and bank stocks are fair valued utilizing level I inputs because the funds have their own quoted prices in an active market. As of December 31, 2022, the CRA fund investments had a $7,345,000 book and market value and the bank stocks had a book value of $1,685,000 and a market value of $1,773,000. The following tables provide the fair value for each class of assets required to be measured and reported at fair value on a nonrecurring basis on the Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022, by level within the fair value hierarchy: ASSETS MEASURED ON A NONRECURRING BASIS ( Dollars in Thousands March 31, 2023 Level I Level II Level III Total $ $ $ $ Assets: Individually analyzed loans $ — $ — $ 3,942 $ 3,942 Total $ — $ — $ 3,942 $ 3,942 December 31, 2022 Level I Level II Level III Total $ $ $ $ Assets: Impaired Loans $ — $ — $ 4,620 $ 4,620 Total $ — $ — $ 4,620 $ 4,620 The Corporation had a total of $3,942,000 of individually analyzed loans as of March 31, 2023, and $4,620,000 of impaired loans as of December 31, 2022. The value of individually analyzed loans is generally determined through independent appraisals of the underlying collateral. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized level III inputs to determine fair value: QUANTITATIVE INFORMATION ABOUT LEVEL III FAIR VALUE MEASUREMENTS (DOLLARS IN THOUSANDS) March 31, 2023 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Individually analyzed loans 3,942 Appraisal of collateral (1) Appraisal adjustments (2) -20% (-20%) Liquidation expenses (2) -10% (-10%) December 31, 2022 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Impaired loans 4,620 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -20% (-20%) Liquidation expenses (2) 0% to -10% (-10%) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments The following table provides the carrying amount for each class of assets and liabilities and the fair value for certain financial instruments that are not required to be measured or reported at fair value on the Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022: FINANCIAL INSTRUMENTS NOT REQUIRED TO BE MEASURED OR REPORTED AT FAIR VALUE (DOLLARS IN THOUSANDS) March 31, 2023 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 46,450 46,450 46,450 — — Regulatory stock 7,318 7,318 7,318 — — Loans held for sale 875 875 875 — — Loans, net of allowance 1,240,545 1,191,004 — — 1,191,004 Mortgage servicing assets 2,010 2,831 — — 2,831 Accrued interest receivable 6,464 6,464 6,464 — — Bank owned life insurance 34,992 34,992 34,992 — — Financial Liabilities: Demand deposits 642,136 642,136 642,136 — — Interest-bearing demand deposits 206,668 206,668 206,668 — — NOW accounts 121,684 121,684 121,684 — — Money market deposit accounts 168,991 168,991 168,991 — — Savings accounts 351,027 351,027 351,027 — — Time deposits 159,102 155,728 — — 155,728 Total deposits 1,649,608 1,646,234 1,490,506 — 155,728 Short-term borrowings 5,000 4,967 — — 4,967 Long-term debt 78,639 78,120 — — 78,120 Subordinated debt 39,436 35,564 — — 35,564 Accrued interest payable 1,427 1,427 1,427 — — FINANCIAL INSTRUMENTS NOT REQUIRED TO BE MEASURED OR REPORTED AT FAIR VALUE (DOLLARS IN THOUSANDS) December 31, 2022 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 37,572 37,572 37,572 — — Regulatory stock 6,670 6,670 6,670 — — Loans held for sale 5,927 5,927 5,927 — — Loans, net of allowance 1,176,966 1,112,400 — — 1,112,400 Mortgage servicing assets 2,030 2,894 — — 2,894 Accrued interest receivable 6,555 6,555 6,555 — — Bank owned life insurance 34,805 34,805 34,805 — — Financial Liabilities: Demand deposits 672,342 672,342 672,342 — — Interest-bearing demand deposits 164,208 164,208 164,208 — — NOW accounts 139,846 139,846 139,846 — — Money market deposit accounts 163,836 163,836 163,836 — — Savings accounts 364,897 364,897 364,897 — — Time deposits 133,829 129,422 — — 129,422 Total deposits 1,638,958 1,634,551 1,505,129 — 129,422 Short-term debt 16,000 15,721 — — 15,721 Long-term debt 58,039 56,431 — — 56,431 Subordinated debt 39,396 35,975 — — 35,975 Accrued interest payable 597 597 597 — — |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingent Liabilities | 7. Commitments and Contingent Liabilities In order to meet the financing needs of its customers in the normal course of business, the Corporation makes various commitments that are not reflected in the accompanying consolidated financial statements. These commitments include firm commitments to extend credit, unused lines of credit, and open letters of credit. As of March 31, 2023, firm loan commitments were $105.0 million, unused lines of credit were $474.6 million, and open letters of credit were $11.1 million. The total of these commitments was $590.7 million, which represents the Corporation’s exposure to credit loss in the event of nonperformance by its customers with respect to these financial instruments. The actual credit losses that may arise from these commitments are expected to compare favorably with the Corporation’s loan loss experience on its loan portfolio taken as a whole. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for balance sheet financial instruments. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | 8. Accumulated Other Comprehensive Income (Loss) The activity in accumulated other comprehensive income (loss) for the three months ended March 31, 2023 and 2022 is as follows: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (1) (2) (DOLLARS IN THOUSANDS) Unrealized Gains (Losses) on Securities Available-for-Sale $ Balance at December 31, 2022 (48,292 ) Other comprehensive income before reclassifications 7,335 Amount reclassified from accumulated other comprehensive loss 324 Period change 7,659 Balance at March 31, 2023 (40,633 ) Balance at December 31, 2021 3,441 Other comprehensive loss before reclassifications (23,629 ) Amount reclassified from accumulated other comprehensive loss (110 ) Period change (23,739 ) Balance at March 31, 2022 (20,298 ) (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a Federal income tax rate of 21%. (2) Amounts in parentheses indicate debits. DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) COMPONENTS (1) (DOLLARS IN THOUSANDS) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Three Months Ended March 31, 2023 2022 Affected Line Item in the $ $ Consolidated Statements of Income Securities available-for-sale: Net securities (losses) gains,reclassified into earnings (410 ) 139 Gains on the sale of debt securities, net Related income tax (benefit) expense 86 (29 ) Provision for federal income taxes Net effect on accumulated other comprehensive income (loss) for the period (324 ) 110 (1) Amounts in parentheses indicate debits. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Recently Issued Accounting Standards | 9. Recently Issued Accounting Standards In March 2023, the FASB issued ASU No. 2023-02, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)”. The ASU allows entities to elect the proportional amortization method, on a tax-credit-program-by-tax-credit-program basis, for all equity investments in tax credit programs meeting the eligibility criteria in Accounting Standards Codification (ASC) 323-740-25-1. While the ASU does not significantly alter the existing eligibility criteria, it does provide clarifications to address existing interpretive issues. It also prescribes specific information reporting entities must disclose about tax credit investments each period. This ASU is effective for reporting periods beginning after December 15, 2023, for public business entities, or January 1, 2024 for the Corporation. The Corporation does not expect the adoption of this ASU to have a material impact on the Corporation's financial statements . |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and to general practices within the banking industry. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all significant adjustments considered necessary for fair presentation have been included. Certain items previously reported have been reclassified to conform to the current period’s reporting format. Such reclassifications did not affect net income or stockholders’ equity. ENB Financial Corp (“the Corporation”) is the bank holding company for its wholly-owned subsidiary Ephrata National Bank (the “Bank”). Ephrata National Bank has one wholly-owned subsidiary, ENB Insurance, LLC that is consolidated into its financial statements. This Form 10-Q, for the first quarter of 2023, is reporting on the results of operations and financial condition of ENB Financial Corp on a consolidated basis. Operating results for the three months ended March 31, 2023, are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. For further information, refer to the consolidated financial statements and footnotes thereto included in ENB Financial Corp’s Annual Report on Form 10-K for the year ended December 31, 2022. |
Accounting Pronouncements Adopted in 2023 | Accounting Pronouncements Adopted in 2023 In June 2016, the FASB issued ASU No. 2016-13, " Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" The Corporation adopted this guidance, and subsequent related updates, using the modified retrospective approach for all financial assets measured at amortized cost, including loans, available-for-sale debt securities and unfunded commitments. On January 1, 2023, the Corporation recorded a cumulative effect decrease to retained earnings of $619,000, net of tax, of which $537,000 related to loans, $82,000 related to unfunded commitments, and $0 related to available-for-sale securities. The Corporation has elected to exclude accrued interest receivable from the measurement of its allowance for credit losses (ACL). When a loan is placed on nonaccrual status, any outstanding accrued interest is reversed against interest income. The Corporation adopted the provisions of ASC 326 related to presenting other-than-temporary impairment on available-for-sale debt securities prior to January 1, 2023, using the prospective transition approach, though no such charges had been recorded on the securities held by the Corporation as of the date of adoption. In connection with the adoption of ASU 2016-13, the Corporation made changes to the loan portfolio segments to align with the methodology applied in determining the allowance under CECL. Refer to Note 5 Loans and Allowance for Credit Losses for further discussion of these portfolio segments. The new segmentation consists of: Agriculture, Business Loans, Consumer Loans, Home Equity, Non-Owner Occupied Commercial Real Estate, and Residential Real Estate. The impact of the change from the incurred loss model to the current expected credit loss model and the reclassification of loans for the identification of new portfolio loan segments under CECL is detailed below (in thousands). January 1, 2023 Pre-adoption Adoption Impact As Reported Assets $ $ $ ACL on debt securities available for sale — — — ACL on loans Commercial Real Estate 6,074 (6,074 ) — Consumer Real Estate 5,442 (5,442 ) — Commercial and Industrial 2,151 (2,151 ) — Consumer 67 183 250 Agriculture — 3,537 3,537 Business Loans — 3,382 3,382 Home Equity — 2,129 2,129 Non-Owner Occupied CRE — 875 875 Residential Real Estate — 4,658 4,658 Unallocated 417 (417 ) — 14,151 680 14,831 Liabilities ACL for unfunded commitments 1,017 103 1,120 $ 15,168 $ 783 $ 15,951 |
Investment Securities | Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designation as of each balance sheet date. Investment securities classified as available for sale are those securities that the Corporation intends to hold for an indefinite period of time but not necessarily to maturity. Securities available for sale are carried at fair value. Any decision to sell a security classified as available for sale would be based on various factors, including significant movements in interest rates, changes in the maturity mix of the Corporation’s assets and liabilities, liquidity needs, regulatory capital considerations, and other similar factors. Unrealized gains or losses are reported as increases or decreases in other comprehensive income (loss), net of the deferred tax effect. Realized gains or losses, determined on the basis of the cost of the specific securities sold, are included in earnings. Premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The Corporation classifies all of its securities as available for sale. Equity securities are measured at fair value with changes in fair value recognized in net income. |
Allowance for Credit Losses – Available for Sale Securities | Allowance for Credit Losses – Available for Sale Securities The Corporation measures expected credit losses on available-for-sale debt securities when the Corporation does not intend to sell, or when it is not more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For available-for-sale debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Corporation considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this evaluation indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, equal to the amount that the fair value is less than the amortized cost basis. Economic forecast data is utilized to calculate the present value of expected cash flows. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income (loss). The allowance for credit losses on available-for-sale debt securities is included within investment securities available-for-sale on the consolidated balance sheet. Changes in the allowance for credit losses are recorded within the provision for credit losses on the consolidated statement of income. Losses are charged against the allowance when the Corporation believes the collectability of an available-for-sale security is in jeopardy or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on available-for-sale debt securities totaled $3,700,000 at March 31, 2023, and is included within on the consolidated balance sheet. This amount is excluded from the estimate of expected credit losses. Available-for-sale debt securities are typically classified as nonaccrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When available-for-sale debt securities are placed on nonaccrual status, unpaid interest credited to income is reversed. |
Loans Receivable | Loans Receivable Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of an allowance for credit losses and any deferred fees or costs. Accrued interest receivable totaled $2,764,000 at March 31, 2023, and was reported in Other Assets on the Consolidated Balance Sheets and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Corporation is amortizing these amounts over the contractual life of the loan. Premiums and discounts on purchased loans are amortized as adjustments to interest income using the effective yield method. The loans receivable portfolio is segmented into Agriculture, Business Loans, Consumer Loans, Home Equity, Non-Owner Occupied Commercial Real Estate (CRE), and Residential Real Estate. For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for credit losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income on a cash basis, according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months), and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. |
Allowance for Credit Losses - Loans | Allowance for Credit Losses - Loans The allowance for credit losses (ACL) is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. The ACL is an estimate of expected credit losses, measured over the contractual life of a loan, that considers historical loss experience, current conditions, and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans. The ACL is measured on a collective (pool) basis when similar risk characteristics exist. The Corporation measures the ACL using the following methods. Historical credit loss experience is the basis for the estimation of expected credit losses. The Corporation applies historical loss rates to pools of loans with similar risk characteristics. After consideration of the historic loss calculation, management applies qualitative adjustments to reflect the current conditions and reasonable and supportable forecasts not already reflected in the historical loss information at the balance sheet date. Reasonable and supportable forecast adjustment is based on the unemployment forecast, BBB Rated Corporate Bond Spread, GDP Growth, Retail Sales, Asset Prices, and Management Judgement. The reasonable and supportable period is the life of the loan as credit loss models used produce reasonable estimates of losses over the life of the loan. The qualitative adjustments for current conditions are based upon changes in lending policies and procedures, loan portfolio trends, lending management experience, asset quality, loan review, underlying collateral, credit concentrations, and external factors. These modified historical loss rates are multiplied by the outstanding principal balance of each loan to calculate a required reserve. The Corporation has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on nonaccrual status, any outstanding accrued interest is reversed against interest income. |
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures | Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Corporation. The allowance for credit losses on off-balance sheet credit exposures is adjusted through credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Schedule of current expected credit loss model and reclassification | January 1, 2023 Pre-adoption Adoption Impact As Reported Assets $ $ $ ACL on debt securities available for sale — — — ACL on loans Commercial Real Estate 6,074 (6,074 ) — Consumer Real Estate 5,442 (5,442 ) — Commercial and Industrial 2,151 (2,151 ) — Consumer 67 183 250 Agriculture — 3,537 3,537 Business Loans — 3,382 3,382 Home Equity — 2,129 2,129 Non-Owner Occupied CRE — 875 875 Residential Real Estate — 4,658 4,658 Unallocated 417 (417 ) — 14,151 680 14,831 Liabilities ACL for unfunded commitments 1,017 103 1,120 $ 15,168 $ 783 $ 15,951 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of amortized cost and fair value of securities | Gross Gross Allowance (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized for Credit Fair Cost Gains Losses Losses Value $ $ $ $ $ March 31, 2023 U.S. treasuries 35,756 — (2,562 ) — 33,194 U.S. government agencies 26,404 — (2,406 ) — 23,998 U.S. agency mortgage-backed securities 48,494 — (4,107 ) — 44,387 U.S. agency collateralized mortgage obligations 25,955 — (2,343 ) — 23,612 Non-agency MBS/CMO 52,594 — (3,829 ) — 48,765 Asset-backed securities 72,441 18 (2,341 ) — 70,118 Corporate bonds 70,541 — (6,545 ) — 63,996 Obligations of states and political subdivisions 213,933 1 (27,321 ) — 186,613 Total securities available for sale 546,118 19 (51,454 ) — 494,683 Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ December 31, 2022 U.S. Treasuries 35,737 — (3,080 ) 32,657 U.S. government agencies 27,605 — (2,818 ) 24,787 U.S. agency mortgage-backed securities 49,939 — (4,632 ) 45,307 U.S. agency collateralized mortgage obligations 30,193 — (2,703 ) 27,490 Non-agency MBS/CMO 53,900 — (3,650 ) 50,250 Asset-backed securities 76,110 16 (2,892 ) 73,234 Corporate bonds 76,685 10 (7,064 ) 69,631 Obligations of states and political subdivisions 240,102 10 (34,326 ) 205,786 Total securities available for sale 590,271 36 (61,165 ) 529,142 |
Schedule of contractual maturity of debt securities | CONTRACTUAL MATURITY OF DEBT SECURITIES (DOLLARS IN THOUSANDS) Amortized Cost Fair Value $ $ Due in one year or less 13,005 12,797 Due after one year through five years 112,909 103,936 Due after five years through ten years 73,851 64,415 Due after ten years 346,353 313,535 Total debt securities 546,118 494,683 |
Schedule of proceeds from sales of securities available for sale | Three Months Ended March 31, 2023 2022 $ $ Proceeds from sales 28,116 8,575 Gross realized gains 4 139 Gross realized losses (414 ) — |
Schedule of temporary impairments of securities | Less than 12 months More than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses $ $ $ $ $ $ As of March 31, 2023 U.S. Treasuries — — 33,194 (2,562 ) 33,194 (2,562 ) U.S. government agencies — — 23,998 (2,406 ) 23,998 (2,406 ) U.S. agency mortgage-backed securities 1,312 (82 ) 43,075 (4,025 ) 44,387 (4,107 ) U.S. agency collateralized mortgage obligations 650 (19 ) 22,962 (2,324 ) 23,612 (2,343 ) Non-Agency MBS/CMO 33,907 (2,165 ) 14,858 (1,664 ) 48,765 (3,829 ) Asset-backed securities 10,247 (242 ) 58,201 (2,099 ) 68,448 (2,341 ) Corporate bonds 12,320 (432 ) 51,676 (6,113 ) 63,996 (6,545 ) Obligations of states & political subdivisions 1,025 (26 ) 185,019 (27,295 ) 186,044 (27,321 ) Total temporarily impaired securities 59,461 (2,966 ) 432,983 (48,488 ) 492,444 (51,454 ) Less than 12 months More than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses $ $ $ $ $ $ As of December 31, 2022 U.S. Treasuries 19,721 (1,169 ) 12,936 (1,911 ) 32,657 (3,080 ) U.S. government agencies 1,953 (52 ) 21,634 (2,766 ) 23,587 (2,818 ) U.S. agency mortgage-backed securities 24,667 (1,653 ) 20,640 (2,979 ) 45,307 (4,632 ) U.S. agency collateralized mortgage obligations 9,984 (500 ) 17,453 (2,203 ) 27,437 (2,703 ) Non-Agency MBS/CMO 50,250 (3,650 ) — — 50,250 (3,650 ) Asset-backed securities 29,283 (1,028 ) 42,032 (1,864 ) 71,315 (2,892 ) Corporate bonds 15,197 (1,230 ) 43,417 (5,834 ) 58,614 (7,064 ) Obligations of states & political subdivisions 103,200 (10,949 ) 100,575 (23,377 ) 203,775 (34,326 ) Total temporarily impaired securities 254,255 (20,231 ) 258,687 (40,934 ) 512,942 (61,165 ) |
Equity Securities (Tables)
Equity Securities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Stockholders' Equity Note [Abstract] | |
Schedule of amortized cost, gross unrealized gains and losses, and fair value of equity securities | Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ March 31, 2023 CRA-qualified mutual funds 7,419 — — 7,419 Bank stocks 1,703 60 (168 ) 1,595 Total equity securities 9,122 60 (168 ) 9,014 Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ December 31, 2022 CRA-qualified mutual funds 7,345 — — 7,345 Bank stocks 1,685 162 (74 ) 1,773 Total equity securities 9,030 162 (74 ) 9,118 |
Schedule of net gains and losses on equity investments recognized in earnings | Three Months Ended March 31, 2023 2022 $ $ Net losses recognized in equity securities during the period (196 ) (8 ) Less: Net gains realized on the sale of equity securities during the period — 51 Unrealized losses recognized in equity securities held at reporting date (196 ) (59 ) |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
Schedule of corporation’s loan portfolio by category of loans | March 31, 2023 $ Agriculture 240,006 Business Loans 353,537 Consumer 6,061 Home Equity 100,743 Non-Owner Occupied Commercial Real Estate 119,412 Residential Real Estate (a) 434,215 Gross loans prior to deferred costs 1,253,974 Deferred loan costs, net 2,625 Allowance for credit losses (16,054 ) Total net loans (b) 1,240,545 (a) Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $295,917,000 as of March 31, 2023. (b) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to the adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Schedule of category of loans and impact of the change from the adoption of the standard | Post Adoption December 31, Adoption January, 1 2022 Impact 2023 $ $ $ Agriculture — 238,734 238,734 Business Loans — 336,340 336,340 Home Equity — 98,854 98,854 Non-Owner Occupied CRE — 111,333 111,333 Residential Real Estate (a) — 397,260 397,260 Commercial real estate Commercial mortgages 210,823 (210,823 ) — Agriculture mortgages 221,167 (221,167 ) — Construction 86,793 (86,793 ) — Total commercial real estate 518,783 (518,783 ) — Consumer real estate (a) 1-4 family residential mortgages 410,301 (410,301 ) — Home equity loans 11,937 (11,937 ) — Home equity lines of credit 98,349 (98,349 ) — Total consumer real estate 520,587 (520,587 ) — Commercial and industrial Commercial and industrial 87,528 (87,528 ) — Tax-free loans 28,664 (28,664 ) — Agriculture loans 27,122 (27,122 ) — Total commercial and industrial 143,314 (143,314 ) — Consumer 5,769 163 5,932 Gross loans prior to deferred fees 1,188,453 — 1,188,453 Deferred loan costs, net 2,664 Allowance for credit losses (14,151 ) Total net loans 1,176,966 (a) Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $298,375,000 as of December 31, 2022. |
Schedule of classes of the loan portfolio summarized by the past-due status | March 31, 2023 31-60 61-90 Greater Than Days Days 90 Days Total Total Current Past Due Past Due Past Due Past Due Loans Agriculture $ 239,264 $ 473 $ — $ 269 $ 742 $ 240,006 Business Loans 353,325 58 — 154 212 353,537 Consumer 5,994 31 1 35 67 6,061 Home Equity 100,566 154 23 — 177 100,743 Non-Owner Occupied CRE 119,412 — — — — 119,412 Residential Real Estate 433,737 341 — 137 478 434,215 Total (a) $ 1,252,298 $ 1,057 $ 24 $ 595 $ 1,676 $ 1,253,974 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. December 31, 2022 Loans Greater Receivable > 30-59 Days 60-89 Days than 90 Total Past Total Loans 90 Days and Past Due Past Due Days Due Current Receivable Accruing $ $ $ $ $ $ $ Commercial real estate Commercial mortgages — — 554 554 210,269 210,823 — Agriculture mortgages — — 2,787 2,787 218,380 221,167 — Construction — — — — 86,793 86,793 — Consumer real estate 1-4 family residential mortgages 905 — 447 1,352 408,949 410,301 139 Home equity loans 17 — 339 356 11,581 11,937 — Home equity lines of credit 165 16 — 181 98,168 98,349 — Commercial and industrial Commercial and industrial — — 190 190 87,338 87,528 — Tax-free loans — — — — 28,664 28,664 — Agriculture loans — — — — 27,122 27,122 — Consumer 9 5 30 44 5,725 5,769 30 Total 1,096 21 4,347 5,464 1,182,989 1,188,453 169 |
Schedule of amortized cost basis of loans on nonaccrual status and loans past due | Nonaccrual Nonaccrual Loans Past with no with Total Due Over 90 Days Total ACL ACL Nonaccrual Still Accruing Nonperforming Agriculture $ 1,005 $ — $ 1,005 $ 269 $ 1,274 Business Loans 2,509 — 2,509 — 2,509 Consumer Loans — — — 35 35 Home Equity — — — — — Non-Owner Occupied CRE — — — — — Residential Real Esate — — — 137 137 Total (a) $ 3,514 $ — $ 3,514 $ 441 $ 3,955 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Schedule of nonperforming loans | December 31, 2022 $ Commercial real estate Commercial mortgages 554 Agriculture mortgages 2,787 Construction — Consumer real estate 1-4 family residential mortgages 308 Home equity loans 339 Home equity lines of credit — Commercial and industrial Commercial and industrial 190 Tax-free loans — Agriculture loans — Consumer — Total 4,178 |
Schedule of recorded investment by internal risk rating system for commercial credit exposure | Revolving Revolving Term Loans Amortized Costs Basis by Origination Year Loans Loans Amortized Converted March 31, 2023 2023 2022 2021 2020 2019 Prior Cost Basis to Term Total Agriculture Risk Rating Pass $ 9,568 $ 45,812 $ 52,338 $ 21,590 $ 16,144 $ 65,217 $ 23,566 $ — $ 234,235 Special Mention — 74 505 — 199 1,246 76 — 2,100 Substandard — — — 763 288 2,585 35 — 3,671 Doubtful — — — — — — — — — Total $ 9,568 $ 45,886 $ 52,843 $ 22,353 $ 16,631 $ 69,048 $ 23,677 $ — $ 240,006 Agriculture Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Business Loans Risk Rating Pass $ 18,194 $ 104,502 $ 72,834 $ 40,876 $ 17,883 $ 54,141 $ 37,884 $ — $ 346,314 Special Mention — — — — — — — — — Substandard 3,036 1,622 — 317 — 1,308 940 — 7,223 Doubtful — — — — — — — — — Total $ 21,230 $ 106,124 $ 72,834 $ 41,193 $ 17,883 $ 55,449 $ 38,824 $ — $ 353,537 Business Loans Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Non-Owner Occupied CRE Risk Rating Pass $ 7,587 $ 42,243 $ 26,412 $ 13,336 $ 8,062 $ 13,887 $ 4,605 $ — $ 116,132 Special Mention — 548 — — — — — — 548 Substandard — — — — 2,413 319 — — 2,732 Doubtful — — — — — — — — — Total $ 7,587 $ 42,791 $ 26,412 $ 13,336 $ 10,475 $ 14,206 $ 4,605 $ — $ 119,412 Non-Owner Occupied CRE Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total Risk Rating Pass $ 35,349 $ 192,557 $ 151,584 $ 75,802 $ 42,089 $ 133,245 $ 66,055 $ — $ 696,681 Special Mention — 622 505 — 199 1,246 76 — 2,648 Substandard 3,036 1,622 — 1,080 2,701 4,212 975 — 13,626 Doubtful — — — — — — — — — Total (a) $ 38,385 $ 194,801 $ 152,089 $ 76,882 $ 44,989 $ 138,703 $ 67,106 $ — $ 712,955 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Revolving Revolving Term Loans Amortized Costs Basis by Origination Year Loans Loans Amortized Converted March 31, 2023 2023 2022 2021 2020 2019 Prior Cost Basis to Term Total Consumer Payment Performance Performing $ 1,670 $ 1,756 $ 747 $ 336 $ 82 $ 8 $ 1,427 $ — $ 6,026 Nonperforming — 7 21 — — 7 — — 35 Total $ 1,670 $ 1,763 $ 768 $ 336 $ 82 $ 15 $ 1,427 $ — $ 6,061 Consumer Current period gross charge-offs $ — $ — $ — $ — $ 1 $ — $ — $ — $ 1 Home equity Payment Performance Performing $ — $ 20,660 $ 1,151 $ 659 $ 618 $ 2,393 $ 72,563 $ 2,699 $ 100,743 Nonperforming — — — — — — — — — Total $ — $ 20,660 $ 1,151 $ 659 $ 618 $ 2,393 $ 72,563 $ 2,699 $ 100,743 Home equity Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Real Estate Payment Performance Performing $ 30,002 $ 161,355 $ 111,396 $ 46,244 $ 34,016 $ 51,065 $ — $ — $ 434,078 Nonperforming — — — — — 137 — — 137 Total $ 30,002 $ 161,355 $ 111,396 $ 46,244 $ 34,016 $ 51,202 $ — $ — $ 434,215 Residential Real Estate Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total Payment Performance Performing $ 34,373 $ 183,771 $ 113,294 $ 47,239 $ 34,716 $ 53,466 $ 73,990 $ — $ 540,849 Nonperforming — 7 21 — — 144 — — 172 Total (a) $ 34,373 $ 183,778 $ 113,315 $ 47,239 $ 34,716 $ 53,610 $ 73,990 $ — $ 541,021 |
Schedule of credit risk profile by internally assigned grade | December 31, 2022 Commercial Agriculture Construction Commercial Tax-free Agriculture Total $ $ $ $ $ $ $ Grade: Pass 209,534 214,905 83,240 85,977 28,664 26,749 649,069 Special Mention — 1,966 3,553 893 — 132 6,544 Substandard 1,289 4,296 — 658 — 241 6,484 Doubtful — — — — — — — Loss — — — — — — — Total 210,823 221,167 86,793 87,528 28,664 27,122 662,097 |
Schedule of credit risk profile by payment performance | December 31, 2022 1-4 Family Home Equity Home Equity Consumer Total Payment performance: $ $ $ $ $ Performing 409,854 11,598 98,349 5,739 525,539 Non-performing 447 339 — 30 816 Total 410,301 11,937 98,349 5,769 526,355 |
Schedule of impaired loans | Three Months Ended March 31 2022 $ Average recorded balance of impaired loans 2,878 Interest income recognized on impaired loans 8 |
Schedule of impaired loan analysis | IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) December 31, 2022 Recorded Unpaid Related $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 1,201 1,271 — Agriculture mortgages 3,229 3,348 — Construction — — — Total commercial real estate 4,430 4,619 — Commercial and industrial Commercial and industrial 190 199 — Tax-free loans — — — Agriculture loans — — — Total commercial and industrial 190 199 — Total with no related allowance 4,620 4,818 — With an allowance recorded: Commercial real estate Commercial mortgages — — — Agriculture mortgages — — — Construction — — — Total commercial real estate — — — Commercial and industrial Commercial and industrial — — — Tax-free loans — — — Agriculture loans — — — Total commercial and industrial — — — Total with a related allowance — — — Total by loan class: Commercial real estate Commercial mortgages 1,201 1,271 — Agriculture mortgages 3,229 3,348 — Construction — — — Total commercial real estate 4,430 4,619 — Commercial and industrial Commercial and industrial 190 199 — Tax-free loans — — — Agriculture loans — — — Total commercial and industrial 190 199 — Total 4,620 4,818 — |
Schedule of allowance for credit losses by portfolio segment | Impact of Beginning adopting Provisions Ending Balance ASC 326 Charge-offs Recoveries (Reductions) Balance Allowance for credit losses: Commercial Real Estate $ 6,074 $ (6,074 ) $ — $ — $ — $ — Consumer Real Estate 5,442 (5,442 ) — — — — Commerical & Industrial 2,151 (2,151 ) — — — — Consumer 67 (67 ) — — — — Agriculture — 3,537 — 63 (9 ) 3,591 Business Loans — 3,382 — 13 78 3,473 Consumer Loans — 250 (1 ) — 21 270 Home Equity — 2,129 — — 189 2,318 Non-Owner Occupied CRE — 875 — — 67 942 Residential Real Estate — 4,658 — 1 801 5,460 Unallocated 417 (417 ) — — — — Total (a) $ 14,151 $ 680 $ (1 ) $ 77 $ 1,147 $ 16,054 (a) Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Schedule of allowance for credit losses | Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Beginning balance - December 31, 2021 6,263 3,834 2,112 87 635 12,931 Charge-offs (65 ) — — (1 ) — (66 ) Recoveries — 3 10 1 — 14 Provision (90 ) 41 193 (16 ) (28 ) 100 Balance - March 31, 2022 6,108 3,878 2,315 71 607 12,979 |
Schedule of allowance for credit losses and recorded investment in loans receivable | As of March 31, 2023: Agriculture Business Consumer Home Non- Residential Total $ $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated — — — — — — — Ending balance: collectively evaluated 3,591 3,473 270 2,318 942 5,460 16,054 Loans receivable: Ending balance 240,006 353,537 6,061 100,743 119,412 434,215 1,253,974 Ending balance: individually evaluated 2,591 1,351 — — — — 3,942 Ending balance: collectively evaluated 237,415 352,186 6,061 100,743 119,412 434,215 1,250,032 As of December 31, 2022: Commercial Real Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated for impairment — — — — — — Ending balance: collectively evaluated for impairment 6,074 5,442 2,151 67 417 14,151 Loans receivable: Ending balance 518,783 520,587 143,314 5,769 1,188,453 Ending balance: individually evaluated for impairment 4,430 — 190 — 4,620 Ending balance: collectively evaluated for impairment 514,353 520,587 143,124 5,769 1,183,833 |
Fair Value Presentation (Tables
Fair Value Presentation (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets measured on a recurring basis | ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) March 31, 2023 Level I Level II Level III Total $ $ $ $ U.S. treasuries 33,194 — — 33,194 U.S. government agencies — 23,998 — 23,998 U.S. agency mortgage-backed securities — 44,387 — 44,387 U.S. agency collateralized mortgage obligations — 23,612 — 23,612 Non-agency MBS/CMO — 48,765 — 48,765 Asset-backed securities — 70,118 — 70,118 Corporate bonds — 63,996 — 63,996 Obligations of states & political subdivisions — 186,613 — 186,613 Equity securities 9,014 — — 9,014 Total securities 42,208 461,489 — 503,697 ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) December 31, 2022 Level I Level II Level III Total $ $ $ $ U.S. Treasuries 32,657 — 32,657 U.S. government agencies — 24,787 — 24,787 U.S. agency mortgage-backed securities — 45,307 — 45,307 U.S. agency collateralized mortgage obligations — 27,490 — 27,490 Non-agency MBS/CMO — 50,250 — 50,250 Asset-backed securities — 73,234 — 73,234 Corporate bonds — 69,631 — 69,631 Obligations of states & political subdivisions — 205,786 — 205,786 Equity securities 9,118 — — 9,118 Total securities 41,775 496,485 — 538,260 |
Schedule of assets measured on a nonrecurring basis | March 31, 2023 Level I Level II Level III Total $ $ $ $ Assets: Individually analyzed loans $ — $ — $ 3,942 $ 3,942 Total $ — $ — $ 3,942 $ 3,942 December 31, 2022 Level I Level II Level III Total $ $ $ $ Assets: Impaired Loans $ — $ — $ 4,620 $ 4,620 Total $ — $ — $ 4,620 $ 4,620 |
Schedule of Level III fair value measurements | March 31, 2023 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Individually analyzed loans 3,942 Appraisal of collateral (1) Appraisal adjustments (2) -20% (-20%) Liquidation expenses (2) -10% (-10%) December 31, 2022 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Impaired loans 4,620 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -20% (-20%) Liquidation expenses (2) 0% to -10% (-10%) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments |
Schedule of financial instruments not required to be measured or reported at fair value | March 31, 2023 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 46,450 46,450 46,450 — — Regulatory stock 7,318 7,318 7,318 — — Loans held for sale 875 875 875 — — Loans, net of allowance 1,240,545 1,191,004 — — 1,191,004 Mortgage servicing assets 2,010 2,831 — — 2,831 Accrued interest receivable 6,464 6,464 6,464 — — Bank owned life insurance 34,992 34,992 34,992 — — Financial Liabilities: Demand deposits 642,136 642,136 642,136 — — Interest-bearing demand deposits 206,668 206,668 206,668 — — NOW accounts 121,684 121,684 121,684 — — Money market deposit accounts 168,991 168,991 168,991 — — Savings accounts 351,027 351,027 351,027 — — Time deposits 159,102 155,728 — — 155,728 Total deposits 1,649,608 1,646,234 1,490,506 — 155,728 Short-term borrowings 5,000 4,967 — — 4,967 Long-term debt 78,639 78,120 — — 78,120 Subordinated debt 39,436 35,564 — — 35,564 Accrued interest payable 1,427 1,427 1,427 — — December 31, 2022 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 37,572 37,572 37,572 — — Regulatory stock 6,670 6,670 6,670 — — Loans held for sale 5,927 5,927 5,927 — — Loans, net of allowance 1,176,966 1,112,400 — — 1,112,400 Mortgage servicing assets 2,030 2,894 — — 2,894 Accrued interest receivable 6,555 6,555 6,555 — — Bank owned life insurance 34,805 34,805 34,805 — — Financial Liabilities: Demand deposits 672,342 672,342 672,342 — — Interest-bearing demand deposits 164,208 164,208 164,208 — — NOW accounts 139,846 139,846 139,846 — — Money market deposit accounts 163,836 163,836 163,836 — — Savings accounts 364,897 364,897 364,897 — — Time deposits 133,829 129,422 — — 129,422 Total deposits 1,638,958 1,634,551 1,505,129 — 129,422 Short-term debt 16,000 15,721 — — 15,721 Long-term debt 58,039 56,431 — — 56,431 Subordinated debt 39,396 35,975 — — 35,975 Accrued interest payable 597 597 597 — — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Schedule of accumulated other comprehensive income (loss) | Unrealized Gains (Losses) on Securities Available-for-Sale $ Balance at December 31, 2022 (48,292 ) Other comprehensive income before reclassifications 7,335 Amount reclassified from accumulated other comprehensive loss 324 Period change 7,659 Balance at March 31, 2023 (40,633 ) Balance at December 31, 2021 3,441 Other comprehensive loss before reclassifications (23,629 ) Amount reclassified from accumulated other comprehensive loss (110 ) Period change (23,739 ) Balance at March 31, 2022 (20,298 ) (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a Federal income tax rate of 21%. (2) Amounts in parentheses indicate debits. |
Schedule of accumulated other comprehensive income (loss) components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Three Months Ended March 31, 2023 2022 Affected Line Item in the $ $ Consolidated Statements of Income Securities available-for-sale: Net securities (losses) gains,reclassified into earnings (410 ) 139 Gains on the sale of debt securities, net Related income tax (benefit) expense 86 (29 ) Provision for federal income taxes Net effect on accumulated other comprehensive income (loss) for the period (324 ) 110 (1) Amounts in parentheses indicate debits. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 3 Months Ended | ||
Jan. 01, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Accounting Policies [Abstract] | |||
Retained earnings | $ 619,000 | ||
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | 537,000 | ||
Other Commitment | 82,000 | ||
Available-for-sale securities | $ 0 | ||
Debt Securities, Available-for-Sale, Accrued Interest Writeoff | $ 3,700,000 | ||
Financing Receivable, Accrued Interest, Threshold Period, Writeoff | 90 years | ||
Accrued interest receivable | $ 2,764,000 | ||
Allowance for off-balance sheet extensions of credit | $ 1,232,000 | $ 1,017,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of current expected credit loss model and reclassification $ in Thousands | Jan. 01, 2023 USD ($) |
Pre-adoption [Member] | |
Assets | |
Assets | $ 14,151 |
Liabilities | |
Total | 15,168 |
Pre-adoption [Member] | Home Equity [Member] | |
Assets | |
Assets | |
Adoption Impact [Member] | |
Assets | |
Assets | 680 |
Liabilities | |
Total | 783 |
Adoption Impact [Member] | Home Equity [Member] | |
Assets | |
Assets | 2,129 |
As Reported [Member] | |
Assets | |
Assets | 14,831 |
Liabilities | |
Total | 15,951 |
As Reported [Member] | Home Equity [Member] | |
Assets | |
Assets | 2,129 |
Residential Real Estate [Member] | Pre-adoption [Member] | |
Assets | |
Assets | |
Residential Real Estate [Member] | Adoption Impact [Member] | |
Assets | |
Assets | 4,658 |
Residential Real Estate [Member] | As Reported [Member] | |
Assets | |
Assets | 4,658 |
ACL on Debt Securities Available for Sale [Member] | Pre-adoption [Member] | |
Assets | |
Assets | |
ACL on Debt Securities Available for Sale [Member] | Adoption Impact [Member] | |
Assets | |
Assets | |
ACL on Debt Securities Available for Sale [Member] | As Reported [Member] | |
Assets | |
Assets | |
Commercial Real Estate [Member] | Pre-adoption [Member] | |
Assets | |
Assets | 6,074 |
Commercial Real Estate [Member] | Adoption Impact [Member] | |
Assets | |
Assets | (6,074) |
Commercial Real Estate [Member] | As Reported [Member] | |
Assets | |
Assets | |
Consumer Real Estate [Member] | Pre-adoption [Member] | |
Assets | |
Assets | 5,442 |
Consumer Real Estate [Member] | Adoption Impact [Member] | |
Assets | |
Assets | (5,442) |
Consumer Real Estate [Member] | As Reported [Member] | |
Assets | |
Assets | |
Commercial and Industrial [Member] | Pre-adoption [Member] | |
Assets | |
Assets | 2,151 |
Commercial and Industrial [Member] | Adoption Impact [Member] | |
Assets | |
Assets | (2,151) |
Commercial and Industrial [Member] | As Reported [Member] | |
Assets | |
Assets | |
Consumer [Member] | Pre-adoption [Member] | |
Assets | |
Assets | 67 |
Consumer [Member] | Adoption Impact [Member] | |
Assets | |
Assets | 183 |
Consumer [Member] | As Reported [Member] | |
Assets | |
Assets | 250 |
Agriculture [Member] | Pre-adoption [Member] | |
Assets | |
Assets | |
Agriculture [Member] | Adoption Impact [Member] | |
Assets | |
Assets | 3,537 |
Agriculture [Member] | As Reported [Member] | |
Assets | |
Assets | 3,537 |
Business Loans [Member] | Pre-adoption [Member] | |
Assets | |
Assets | |
Business Loans [Member] | Adoption Impact [Member] | |
Assets | |
Assets | 3,382 |
Business Loans [Member] | As Reported [Member] | |
Assets | |
Assets | 3,382 |
Non-Owner Occupied CRE [Member] | Pre-adoption [Member] | |
Assets | |
Assets | |
Non-Owner Occupied CRE [Member] | Adoption Impact [Member] | |
Assets | |
Assets | 875 |
Non-Owner Occupied CRE [Member] | As Reported [Member] | |
Assets | |
Assets | 875 |
Unallocated [Member] | Pre-adoption [Member] | |
Assets | |
Assets | 417 |
Unallocated [Member] | Adoption Impact [Member] | |
Assets | |
Assets | (417) |
Unallocated [Member] | As Reported [Member] | |
Assets | |
Assets | |
ACL for Unfunded Commitments [Member] | Pre-adoption [Member] | |
Liabilities | |
Liabilities | 1,017 |
ACL for Unfunded Commitments [Member] | Adoption Impact [Member] | |
Liabilities | |
Liabilities | 103 |
ACL for Unfunded Commitments [Member] | As Reported [Member] | |
Liabilities | |
Liabilities | $ 1,120 |
Securities Available for Sale_2
Securities Available for Sale (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Investments, Debt and Equity Securities [Abstract] | ||
Available for sale debt securities | $ 147,218,000 | $ 116,179,000 |
Pledged securities | $ 137,441,000 | $ 107,071,000 |
Securities Available for Sale_3
Securities Available for Sale (Details) - Schedule of amortized cost and fair value of securities - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | $ 546,118 | $ 590,271 |
Gross Unrealized Gains | 19 | 36 |
Gross Unrealized Losses | (51,454) | (61,165) |
Allowance for Credit Losses | ||
Fair Value | 494,683 | 529,142 |
U.S. Treasuries [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 35,756 | 35,737 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (2,562) | (3,080) |
Allowance for Credit Losses | ||
Fair Value | 33,194 | 32,657 |
U.S. Government Agencies [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 26,404 | 27,605 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (2,406) | (2,818) |
Allowance for Credit Losses | ||
Fair Value | 23,998 | 24,787 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 48,494 | 49,939 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (4,107) | (4,632) |
Allowance for Credit Losses | ||
Fair Value | 44,387 | 45,307 |
U.S. Agency Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 25,955 | 30,193 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (2,343) | (2,703) |
Allowance for Credit Losses | ||
Fair Value | 23,612 | 27,490 |
Non-Agency MBS/CMO [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 52,594 | 53,900 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (3,829) | (3,650) |
Allowance for Credit Losses | ||
Fair Value | 48,765 | 50,250 |
Asset-Backed Securities [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 72,441 | 76,110 |
Gross Unrealized Gains | 18 | 16 |
Gross Unrealized Losses | (2,341) | (2,892) |
Allowance for Credit Losses | ||
Fair Value | 70,118 | 73,234 |
Corporate Bonds [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 70,541 | 76,685 |
Gross Unrealized Gains | 10 | |
Gross Unrealized Losses | (6,545) | (7,064) |
Allowance for Credit Losses | ||
Fair Value | 63,996 | 69,631 |
Obligations of States and Political Subdivisions [Member] | ||
Debt Securities, Available-for-Sale [Line Items] | ||
Amortized Cost | 213,933 | 240,102 |
Gross Unrealized Gains | 1 | 10 |
Gross Unrealized Losses | (27,321) | (34,326) |
Allowance for Credit Losses | ||
Fair Value | $ 186,613 | $ 205,786 |
Securities Available for Sale_4
Securities Available for Sale (Details) - Schedule of contractual maturity of debt securities $ in Thousands | Dec. 31, 2023 USD ($) |
Schedule of Contractual Maturity of Debt Securities [Abstract] | |
Due in one year or less, Amortized Cost | $ 13,005 |
Due in one year or less, Fair Value | 12,797 |
Due after one year through five years, Amortized Cost | 112,909 |
Due after one year through five years, Fair Value | 103,936 |
Due after five years through ten years, Amortized Cost | 73,851 |
Due after five years through ten years, Fair Value | 64,415 |
Due after ten years, Amortized Cost | 346,353 |
Due after ten years, Fair Value | 313,535 |
Total debt securities, Amortized Cost | 546,118 |
Total debt securities, Fair Value | $ 494,683 |
Securities Available for Sale_5
Securities Available for Sale (Details) - Schedule of proceeds from sales of securities available for sale - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Proceeds From Sales of Securities Available For Sale [Abstract] | ||
Proceeds from sales | $ 28,116 | $ 8,575 |
Gross realized gains | 4 | 139 |
Gross realized losses | $ (414) |
Securities Available for Sale_6
Securities Available for Sale (Details) - Schedule of temporary impairments of securities - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | $ 59,461 | $ 254,255 |
Less than 12 months, Gross Unrealized Losses | (2,966) | (20,231) |
More than 12 months, Fair Value | 432,983 | 258,687 |
More than 12 months, Gross Unrealized Losses | (48,488) | (40,934) |
Total, Fair Value | 492,444 | 512,942 |
Total, Gross Unrealized Losses | (51,454) | (61,165) |
U.S. Treasuries [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 19,721 | |
Less than 12 months, Gross Unrealized Losses | (1,169) | |
More than 12 months, Fair Value | 33,194 | 12,936 |
More than 12 months, Gross Unrealized Losses | (2,562) | (1,911) |
Total, Fair Value | 33,194 | 32,657 |
Total, Gross Unrealized Losses | (2,562) | (3,080) |
U.S. Government Agencies [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 1,953 | |
Less than 12 months, Gross Unrealized Losses | (52) | |
More than 12 months, Fair Value | 23,998 | 21,634 |
More than 12 months, Gross Unrealized Losses | (2,406) | (2,766) |
Total, Fair Value | 23,998 | 23,587 |
Total, Gross Unrealized Losses | (2,406) | (2,818) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 1,312 | 24,667 |
Less than 12 months, Gross Unrealized Losses | (82) | (1,653) |
More than 12 months, Fair Value | 43,075 | 20,640 |
More than 12 months, Gross Unrealized Losses | (4,025) | (2,979) |
Total, Fair Value | 44,387 | 45,307 |
Total, Gross Unrealized Losses | (4,107) | (4,632) |
U.S. Agency Collateralized Mortgage Obligations [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 650 | 9,984 |
Less than 12 months, Gross Unrealized Losses | (19) | (500) |
More than 12 months, Fair Value | 22,962 | 17,453 |
More than 12 months, Gross Unrealized Losses | (2,324) | (2,203) |
Total, Fair Value | 23,612 | 27,437 |
Total, Gross Unrealized Losses | (2,343) | (2,703) |
Non-Agency MBS/CMO [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 33,907 | 50,250 |
Less than 12 months, Gross Unrealized Losses | (2,165) | (3,650) |
More than 12 months, Fair Value | 14,858 | |
More than 12 months, Gross Unrealized Losses | (1,664) | |
Total, Fair Value | 48,765 | 50,250 |
Total, Gross Unrealized Losses | (3,829) | (3,650) |
Asset-backed Securities [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 10,247 | 29,283 |
Less than 12 months, Gross Unrealized Losses | (242) | (1,028) |
More than 12 months, Fair Value | 58,201 | 42,032 |
More than 12 months, Gross Unrealized Losses | (2,099) | (1,864) |
Total, Fair Value | 68,448 | 71,315 |
Total, Gross Unrealized Losses | (2,341) | (2,892) |
Corporate Bonds [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 12,320 | 15,197 |
Less than 12 months, Gross Unrealized Losses | (432) | (1,230) |
More than 12 months, Fair Value | 51,676 | 43,417 |
More than 12 months, Gross Unrealized Losses | (6,113) | (5,834) |
Total, Fair Value | 63,996 | 58,614 |
Total, Gross Unrealized Losses | (6,545) | (7,064) |
Obligations of States and Political Subdivisions [Member] | ||
Securities Available for Sale (Details) - Schedule of temporary impairments of securities [Line Items] | ||
Less than 12 months, Fair Value | 1,025 | 103,200 |
Less than 12 months, Gross Unrealized Losses | (26) | (10,949) |
More than 12 months, Fair Value | 185,019 | 100,575 |
More than 12 months, Gross Unrealized Losses | (27,295) | (23,377) |
Total, Fair Value | 186,044 | 203,775 |
Total, Gross Unrealized Losses | $ (27,321) | $ (34,326) |
Equity Securities (Details) - S
Equity Securities (Details) - Schedule of amortized cost, gross unrealized gains and losses, and fair value of equity securities - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
CRA-Qualified Mutual Funds [Member] | ||
Equity Securities (Details) - Schedule of amortized cost, gross unrealized gains and losses, and fair value of equity securities [Line Items] | ||
Amortized Cost | $ 7,419 | $ 7,345 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | ||
Fair Value | 7,419 | 7,345 |
Bank Stocks [Member] | ||
Equity Securities (Details) - Schedule of amortized cost, gross unrealized gains and losses, and fair value of equity securities [Line Items] | ||
Amortized Cost | 1,703 | 1,685 |
Gross Unrealized Gains | 60 | 162 |
Gross Unrealized Losses | (168) | (74) |
Fair Value | 1,595 | 1,773 |
Equity Securities [Member] | ||
Equity Securities (Details) - Schedule of amortized cost, gross unrealized gains and losses, and fair value of equity securities [Line Items] | ||
Amortized Cost | 9,122 | 9,030 |
Gross Unrealized Gains | 60 | 162 |
Gross Unrealized Losses | (168) | (74) |
Fair Value | $ 9,014 | $ 9,118 |
Equity Securities (Details) -_2
Equity Securities (Details) - Schedule of net gains and losses on equity investments recognized in earnings - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings [Abstract] | ||
Net losses recognized in equity securities during the period | $ (196) | $ (8) |
Less: Net gains realized on the sale of equity securities during the period | 51 | |
Unrealized losses recognized in equity securities held at reporting date | $ (196) | $ (59) |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Loans and Allowance for Credit Losses (Details) [Line Items] | |||
Charge-offs | $ 1,000 | $ 66,000 | |
Recoveries of loan losses | 77,000 | 14,000 | |
Provision for on balance sheet exposure | 1,147,000 | ||
Provision for off-balance sheet credit | 110,000 | ||
Provision for on balance sheet exposure | 1,257,000 | $ 100,000 | |
Loans Serviced for Others [Member] | |||
Loans and Allowance for Credit Losses (Details) [Line Items] | |||
Real estate loans serviced for others | $ 295,917,000 | $ 298,375,000 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses (Details) - Schedule of corporation’s loan portfolio by category of loans $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 USD ($) | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | $ 1,253,974 | |
Deferred loan costs, net | 2,625 | |
Allowance for credit losses | (16,054) | |
Total net loans | 1,240,545 | [1] |
Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | 240,006 | |
Business Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | 353,537 | |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | 6,061 | |
Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | 100,743 | |
Non-Owner Occupied Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | 119,412 | |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans prior to deferred fees | $ 434,215 | [2] |
[1]Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of thep ortfolio segments related to the adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.[2]Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $295,917,000 as of March 31, 2023. |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard - USD ($) $ in Thousands | Jan. 01, 2023 | Dec. 31, 2022 | |
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | $ 1,188,453 | $ 1,188,453 | |
Deferred loan costs, net | 2,664 | ||
Allowance for credit losses | (14,151) | ||
Total net loans | 1,176,966 | ||
Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | |||
Deferred loan costs, net | |||
Allowance for credit losses | |||
Total net loans | |||
Agriculture [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 238,734 | ||
Agriculture [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 238,734 | ||
Business Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 336,340 | ||
Business Loans [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 336,340 | ||
Home Equity [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 98,854 | ||
Home Equity [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 98,854 | ||
Non-Owner Occupied CRE [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 111,333 | ||
Non-Owner Occupied CRE [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 111,333 | ||
Residential Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | 397,260 | |
Residential Real Estate [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | 397,260 | |
Commercial Mortgages [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 210,823 | ||
Commercial Mortgages [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (210,823) | ||
Agriculture Mortgages [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 221,167 | ||
Agriculture Mortgages [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (221,167) | ||
Construction [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 86,793 | ||
Construction [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (86,793) | ||
Commercial Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 518,783 | ||
Commercial Real Estate [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (518,783) | ||
1-4 Family Residential Mortgages | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | 410,301 | |
1-4 Family Residential Mortgages | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | (410,301) | |
Home Equity Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | 11,937 | |
Home Equity Loans [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | (11,937) | |
Home Equity Lines of Credit [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | 98,349 | |
Home Equity Lines of Credit [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | (98,349) | |
Consumer Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | 520,587 | |
Consumer Real Estate [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | [1] | (520,587) | |
Commercial and Industrial [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 87,528 | ||
Commercial and Industrial [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (87,528) | ||
Tax-free Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 28,664 | ||
Tax-free Loans [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (28,664) | ||
Agriculture Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 27,122 | ||
Agriculture Loans [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (27,122) | ||
Commercial and Industrial [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | 143,314 | ||
Commercial and Industrial [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | (143,314) | ||
Consumer [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | $ 5,932 | 5,769 | |
Consumer [Member] | Adoption Impact [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of category of loans and impact of the change from the adoption of the standard [Line Items] | |||
Gross loans prior to deferred fees | $ 163 | ||
[1]Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $298,375,000 as of December 31, 2022. |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2021 | |
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | $ 1,182,989 | ||
Total Past Due | 5,464 | ||
Total Loans | 1,188,453 | ||
Loans Receivable 90 Days and Accruing | 169 | ||
30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 1,096 | ||
60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 21 | ||
Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 4,347 | ||
Agriculture [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | $ 239,264 | ||
Total Past Due | 742 | ||
Total Loans | 240,006 | ||
Agriculture [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 473 | ||
Agriculture [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Agriculture [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 269 | ||
Business Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 353,325 | ||
Total Past Due | 212 | ||
Total Loans | 353,537 | ||
Business Loans [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 58 | ||
Business Loans [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Business Loans [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 154 | ||
Consumer [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 5,994 | ||
Total Past Due | 67 | ||
Total Loans | 6,061 | ||
Consumer [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 31 | ||
Consumer [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 1 | ||
Consumer [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 35 | ||
Home Equity [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 100,566 | ||
Total Past Due | 177 | ||
Total Loans | 100,743 | ||
Home Equity [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 154 | ||
Home Equity [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 23 | ||
Home Equity [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Non- Owner Occupied CRE [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 119,412 | ||
Total Past Due | |||
Total Loans | 119,412 | ||
Non- Owner Occupied CRE [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Non- Owner Occupied CRE [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Non- Owner Occupied CRE [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Residential Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 433,737 | ||
Total Past Due | 478 | ||
Total Loans | 434,215 | ||
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 341 | ||
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Residential Real Estate [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 137 | ||
Age Analysis of Past-Due Loans Receivable [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | [1] | 1,252,298 | |
Total Past Due | [1] | 1,676 | |
Total Loans | [1] | 1,253,974 | |
Age Analysis of Past-Due Loans Receivable [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | [1] | 1,057 | |
Age Analysis of Past-Due Loans Receivable [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | [1] | 24 | |
Age Analysis of Past-Due Loans Receivable [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | [1] | $ 595 | |
Commercial Mortgages [Member] | Commercial Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 210,269 | ||
Total Past Due | 554 | ||
Total Loans | 210,823 | ||
Loans Receivable 90 Days and Accruing | |||
Commercial Mortgages [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Commercial Mortgages [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Commercial Mortgages [Member] | Commercial Real Estate [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 554 | ||
Agriculture Mortgages [Member] | Commercial Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 218,380 | ||
Total Past Due | 2,787 | ||
Total Loans | 221,167 | ||
Loans Receivable 90 Days and Accruing | |||
Agriculture Mortgages [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Agriculture Mortgages [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Agriculture Mortgages [Member] | Commercial Real Estate [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 2,787 | ||
Construction [Member] | Commercial Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 86,793 | ||
Total Past Due | |||
Total Loans | 86,793 | ||
Loans Receivable 90 Days and Accruing | |||
Construction [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Construction [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Construction [Member] | Commercial Real Estate [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
1-4 Family Residential Mortgages [Member] | Consumer Portfolio Segment [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 408,949 | ||
Total Past Due | 1,352 | ||
Total Loans | 410,301 | ||
Loans Receivable 90 Days and Accruing | 139 | ||
1-4 Family Residential Mortgages [Member] | Consumer Portfolio Segment [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 905 | ||
1-4 Family Residential Mortgages [Member] | Consumer Portfolio Segment [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
1-4 Family Residential Mortgages [Member] | Consumer Portfolio Segment [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 447 | ||
Home Equity Loans [Member] | Consumer Portfolio Segment [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 11,581 | ||
Total Past Due | 356 | ||
Total Loans | 11,937 | ||
Loans Receivable 90 Days and Accruing | |||
Home Equity Loans [Member] | Consumer Portfolio Segment [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 17 | ||
Home Equity Loans [Member] | Consumer Portfolio Segment [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Home Equity Loans [Member] | Consumer Portfolio Segment [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 339 | ||
Home Equity Lines of Credit [Member] | Consumer Portfolio Segment [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 98,168 | ||
Total Past Due | 181 | ||
Total Loans | 98,349 | ||
Loans Receivable 90 Days and Accruing | |||
Home Equity Lines of Credit [Member] | Consumer Portfolio Segment [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 165 | ||
Home Equity Lines of Credit [Member] | Consumer Portfolio Segment [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 16 | ||
Home Equity Lines of Credit [Member] | Consumer Portfolio Segment [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Commercial and Industrials [Member] | Commercial and Industrial [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 87,338 | ||
Total Past Due | 190 | ||
Total Loans | 87,528 | ||
Loans Receivable 90 Days and Accruing | |||
Commercial and Industrials [Member] | Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Commercial and Industrials [Member] | Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Commercial and Industrials [Member] | Commercial and Industrial [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 190 | ||
Tax-free loans [Member] | Commercial and Industrial [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 28,664 | ||
Total Past Due | |||
Total Loans | 28,664 | ||
Loans Receivable 90 Days and Accruing | |||
Tax-free loans [Member] | Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Tax-free loans [Member] | Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Tax-free loans [Member] | Commercial and Industrial [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Agriculture loans [Member] | Commercial and Industrial [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 27,122 | ||
Total Past Due | |||
Total Loans | 27,122 | ||
Loans Receivable 90 Days and Accruing | |||
Agriculture loans [Member] | Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Agriculture loans [Member] | Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Agriculture loans [Member] | Commercial and Industrial [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | |||
Consumer [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Current | 5,725 | ||
Total Past Due | 44 | ||
Total Loans | 5,769 | ||
Loans Receivable 90 Days and Accruing | 30 | ||
Consumer [Member] | 30-59 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 9 | ||
Consumer [Member] | 60-89 Days Past Due [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | 5 | ||
Consumer [Member] | Greater than 90 Days [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of classes of the loan portfolio summarized by the past-due status [Line Items] | |||
Total Past Due | $ 30 | ||
[1]Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due $ in Thousands | Mar. 31, 2023 USD ($) | |
Nonaccrual with no ACL [Member] | Agriculture [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | $ 1,005 | |
Nonaccrual with no ACL [Member] | Business Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 2,509 | |
Nonaccrual with no ACL [Member] | Consumer Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual with no ACL [Member] | Home Equity Loan [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual with no ACL [Member] | Non- Owner Occupied CRE [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual with no ACL [Member] | Residential Real Estate [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual with no ACL [Member] | Total amortized cost [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 3,514 | [1] |
Nonaccrual With ACL [Member] | Agriculture [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual With ACL [Member] | Business Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual With ACL [Member] | Consumer Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual With ACL [Member] | Home Equity Loan [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual With ACL [Member] | Non- Owner Occupied CRE [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual With ACL [Member] | Residential Real Estate [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Nonaccrual With ACL [Member] | Total amortized cost [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | [1] | |
Total Nonaccrual [Member] | Agriculture [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 1,005 | |
Total Nonaccrual [Member] | Business Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 2,509 | |
Total Nonaccrual [Member] | Consumer Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Total Nonaccrual [Member] | Home Equity Loan [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Total Nonaccrual [Member] | Non- Owner Occupied CRE [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Total Nonaccrual [Member] | Residential Real Estate [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Total Nonaccrual [Member] | Total amortized cost [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 3,514 | [1] |
Loans Past DueOver 90 Days Still Accruing [Member] | Agriculture [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 269 | |
Loans Past DueOver 90 Days Still Accruing [Member] | Business Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Loans Past DueOver 90 Days Still Accruing [Member] | Consumer Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 35 | |
Loans Past DueOver 90 Days Still Accruing [Member] | Home Equity Loan [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Loans Past DueOver 90 Days Still Accruing [Member] | Non- Owner Occupied CRE [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Loans Past DueOver 90 Days Still Accruing [Member] | Residential Real Estate [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 137 | |
Loans Past DueOver 90 Days Still Accruing [Member] | Total amortized cost [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 441 | [1] |
Total Nonperforming [Member] | Agriculture [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 1,274 | |
Total Nonperforming [Member] | Business Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 2,509 | |
Total Nonperforming [Member] | Consumer Loans [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 35 | |
Total Nonperforming [Member] | Home Equity Loan [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Total Nonperforming [Member] | Non- Owner Occupied CRE [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | ||
Total Nonperforming [Member] | Residential Real Estate [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | 137 | |
Total Nonperforming [Member] | Total amortized cost [Member] | ||
Loans and Allowance for Credit Losses (Details) - Schedule of amortized cost basis of loans on nonaccrual status and loans past due [Line Items] | ||
amortized cost | $ 3,955 | [1] |
[1]Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses (Details) - Schedule of nonperforming loans $ in Thousands | Dec. 31, 2022 USD ($) |
Commercial real estate | |
Total | $ 4,178 |
Commercial mortgages [Member] | |
Commercial real estate | |
Total | 554 |
Agriculture mortgages [Member] | |
Commercial real estate | |
Total | 2,787 |
Construction [Member] | |
Commercial real estate | |
Total | |
1-4 Family Residential Mortgages [Member] | |
Commercial real estate | |
Total | 308 |
Home Equity Loan [Member] | |
Commercial real estate | |
Total | 339 |
Home Equity Line of Credit [Member] | |
Commercial real estate | |
Total | |
Commercial and Industrial Sector [Member] | |
Commercial real estate | |
Total | 190 |
Tax-free loans [Member] | |
Commercial real estate | |
Total | |
Agriculture loans [Member] | |
Commercial real estate | |
Total | |
Consumer Loan [Member] | |
Commercial real estate | |
Total |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses (Details) - Schedule of recorded investment by internal risk rating system for commercial credit exposure $ in Thousands | Mar. 31, 2023 USD ($) | |
Pass [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | $ 35,349 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 192,557 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 151,584 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 75,802 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 42,089 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 133,245 | |
Revolving Loans Amortized Cost Basis | 66,055 | |
Total | 696,681 | |
Special Mention [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 622 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 505 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | 199 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 1,246 | |
Revolving Loans Amortized Cost Basis | 76 | |
Revolving Loans Converted to Term | ||
Total | 2,648 | |
Substandard [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 3,036 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 1,622 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 1,080 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 2,701 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 4,212 | |
Revolving Loans Amortized Cost Basis | 975 | |
Revolving Loans Converted to Term | ||
Total | 13,626 | |
Doubtful [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 34,373 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 183,771 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 113,294 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 47,239 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 34,716 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 53,466 | |
Revolving Loans Amortized Cost Basis | 73,990 | |
Revolving Loans Converted to Term | ||
Total | 540,849 | |
Non-performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 7 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 21 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | 144 | |
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 172 | |
Home Equity [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Agriculture [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 9,568 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 45,886 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 52,843 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 22,353 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 16,631 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 69,048 | |
Revolving Loans Amortized Cost Basis | 23,677 | |
Total | 240,006 | |
Agriculture [Member] | Pass [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 9,568 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 45,812 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 52,338 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 21,590 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 16,144 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 65,217 | |
Revolving Loans Amortized Cost Basis | 23,566 | |
Revolving Loans Converted to Term | ||
Total | 234,235 | |
Agriculture [Member] | Special Mention [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 74 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 505 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | 199 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 1,246 | |
Revolving Loans Amortized Cost Basis | 76 | |
Revolving Loans Converted to Term | ||
Total | 2,100 | |
Agriculture [Member] | Substandard [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | 763 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 288 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 2,585 | |
Revolving Loans Amortized Cost Basis | 35 | |
Revolving Loans Converted to Term | ||
Total | 3,671 | |
Agriculture [Member] | Doubtful [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Agriculture [Member] | Current period gross charge-offs [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Business Loans [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 21,230 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 106,124 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 72,834 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 41,193 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 17,883 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 55,449 | |
Revolving Loans Amortized Cost Basis | 38,824 | |
Total | 353,537 | |
Business Loans [Member] | Pass [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 18,194 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 104,502 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 72,834 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 40,876 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 17,883 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 54,141 | |
Revolving Loans Amortized Cost Basis | 37,884 | |
Total | 346,314 | |
Business Loans [Member] | Special Mention [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Business Loans [Member] | Substandard [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 3,036 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 1,622 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 317 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 1,308 | |
Revolving Loans Amortized Cost Basis | 940 | |
Total | 7,223 | |
Business Loans [Member] | Doubtful [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Business Loans [Member] | Current period gross charge-offs [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Non- Owner Occupied CRE [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 7,587 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 42,791 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 26,412 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 13,336 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 10,475 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 14,206 | |
Revolving Loans Amortized Cost Basis | 4,605 | |
Total | 119,412 | |
Non- Owner Occupied CRE [Member] | Pass [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 7,587 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 42,243 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 26,412 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 13,336 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 8,062 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 13,887 | |
Revolving Loans Amortized Cost Basis | 4,605 | |
Revolving Loans Converted to Term | ||
Total | 116,132 | |
Non- Owner Occupied CRE [Member] | Special Mention [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 548 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 548 | |
Non- Owner Occupied CRE [Member] | Substandard [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | 2,413 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 319 | |
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 2,732 | |
Non- Owner Occupied CRE [Member] | Doubtful [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Non- Owner Occupied CRE [Member] | Current period gross charge-offs [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Consumer [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 1,670 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 1,763 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 768 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 336 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 82 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 15 | |
Revolving Loans Amortized Cost Basis | 1,427 | |
Total | 6,061 | |
Consumer [Member] | Current period gross charge-offs [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | 1 | |
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 1 | |
Consumer [Member] | Performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 1,670 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 1,756 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 747 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 336 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 82 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 8 | |
Revolving Loans Amortized Cost Basis | 1,427 | |
Revolving Loans Converted to Term | ||
Total | 6,026 | |
Consumer [Member] | Non-performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 7 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 21 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | 7 | |
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 35 | |
Home Equity [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 20,660 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 1,151 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 659 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 618 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 2,393 | |
Revolving Loans Amortized Cost Basis | 72,563 | |
Revolving Loans Converted to Term | 2,699 | |
Total | 100,743 | |
Home Equity [Member] | Current period gross charge-offs [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Home Equity [Member] | Performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | 20,660 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 1,151 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 659 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 618 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 2,393 | |
Revolving Loans Amortized Cost Basis | 72,563 | |
Revolving Loans Converted to Term | 2,699 | |
Total | 100,743 | |
Residential Real Estate [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 30,002 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 161,355 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 111,396 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 46,244 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 34,016 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 51,202 | |
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 434,215 | |
Residential Real Estate [Member] | Current period gross charge-offs [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | ||
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | ||
Residential Real Estate [Member] | Performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 30,002 | |
Term Loans Amortized Costs Basis by Origination Year 2022 | 161,355 | |
Term Loans Amortized Costs Basis by Origination Year 2021 | 111,396 | |
Term Loans Amortized Costs Basis by Origination Year 2020 | 46,244 | |
Term Loans Amortized Costs Basis by Origination Year 2019 | 34,016 | |
Term Loans Amortized Costs Basis by Origination Year Prior | 51,065 | |
Total | 434,078 | |
Residential Real Estate [Member] | Non-performing [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | ||
Term Loans Amortized Costs Basis by Origination Year 2022 | ||
Term Loans Amortized Costs Basis by Origination Year 2021 | ||
Term Loans Amortized Costs Basis by Origination Year 2020 | ||
Term Loans Amortized Costs Basis by Origination Year 2019 | ||
Term Loans Amortized Costs Basis by Origination Year Prior | 137 | |
Revolving Loans Amortized Cost Basis | ||
Revolving Loans Converted to Term | ||
Total | 137 | |
Commercial credit exposure [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 38,385 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2022 | 194,801 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2021 | 152,089 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2020 | 76,882 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2019 | 44,989 | [1] |
Term Loans Amortized Costs Basis by Origination Year Prior | 138,703 | [1] |
Revolving Loans Amortized Cost Basis | 67,106 | [1] |
Revolving Loans Converted to Term | [1] | |
Total | 712,955 | [1] |
Payment Performance [Member] | ||
Risk Rating | ||
Term Loans Amortized Costs Basis by Origination Year 2023 | 34,373 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2022 | 183,778 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2021 | 113,315 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2020 | 47,239 | [1] |
Term Loans Amortized Costs Basis by Origination Year 2019 | 34,716 | [1] |
Term Loans Amortized Costs Basis by Origination Year Prior | 53,610 | [1] |
Revolving Loans Amortized Cost Basis | 73,990 | [1] |
Revolving Loans Converted to Term | [1] | |
Total | $ 541,021 | [1] |
[1]Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses (Details) - Schedule of credit risk profile by internally assigned grade $ in Thousands | Dec. 31, 2022 USD ($) |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | $ 662,097 |
Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 649,069 |
Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 6,544 |
Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 6,484 |
Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Agriculture Mortgages [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 221,167 |
Agriculture Mortgages [Member] | Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 214,905 |
Agriculture Mortgages [Member] | Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 1,966 |
Agriculture Mortgages [Member] | Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 4,296 |
Agriculture Mortgages [Member] | Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Agriculture Mortgages [Member] | Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Construction [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 86,793 |
Construction [Member] | Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 83,240 |
Construction [Member] | Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 3,553 |
Construction [Member] | Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Construction [Member] | Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Commercial and Industrial [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 87,528 |
Commercial and Industrial [Member] | Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 85,977 |
Commercial and Industrial [Member] | Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 893 |
Commercial and Industrial [Member] | Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 658 |
Commercial and Industrial [Member] | Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Commercial and Industrial [Member] | Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Tax-free Loans [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 28,664 |
Tax-free Loans [Member] | Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 28,664 |
Tax-free Loans [Member] | Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Tax-free Loans [Member] | Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Tax-free Loans [Member] | Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Tax-free Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Agriculture Loans [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 27,122 |
Agriculture Loans [Member] | Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 26,749 |
Agriculture Loans [Member] | Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 132 |
Agriculture Loans [Member] | Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 241 |
Agriculture Loans [Member] | Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Agriculture Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Commercial Mortgages [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 210,823 |
Commercial Mortgages [Member] | Pass [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 209,534 |
Commercial Mortgages [Member] | Special Mention [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Commercial Mortgages [Member] | Substandard [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 1,289 |
Commercial Mortgages [Member] | Doubtful [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | |
Commercial Mortgages [Member] | Unlikely to be Collected Financing Receivable [Member] | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses (Details) - Schedule of credit risk profile by payment performance $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Financing Receivable, Past Due [Line Items] | |
Total | $ 526,355 |
Performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 525,539 |
Non-performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 816 |
1-4 Family Residential Mortgages [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 410,301 |
1-4 Family Residential Mortgages [Member] | Performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 409,854 |
1-4 Family Residential Mortgages [Member] | Non-performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 447 |
Home Equity Loans [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 11,937 |
Home Equity Loans [Member] | Performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 11,598 |
Home Equity Loans [Member] | Non-performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 339 |
Home Equity Lines of Credit [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 98,349 |
Home Equity Lines of Credit [Member] | Performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 98,349 |
Home Equity Lines of Credit [Member] | Non-performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | |
Consumer [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 5,769 |
Consumer [Member] | Performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | 5,739 |
Consumer [Member] | Non-performing [Member] | |
Financing Receivable, Past Due [Line Items] | |
Total | $ 30 |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses (Details) - Schedule of impaired loans $ in Thousands | 3 Months Ended |
Mar. 31, 2022 USD ($) | |
Schedule Of Impaired Loans Abstract | |
Average recorded balance of impaired loans | $ 2,878 |
Interest income recognized on impaired loans | $ 8 |
Loans and Allowance for Cred_13
Loans and Allowance for Credit Losses (Details) - Schedule of impaired loan analysis $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | $ 4,620 |
With no related allowance recorded, Unpaid Principal Balance | 4,818 |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | 4,620 |
Total by loan class, Unpaid Principal Balance | 4,818 |
Total by loan class, Related Allowance | |
Commercial Real Estate [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | 4,430 |
With no related allowance recorded, Unpaid Principal Balance | 4,619 |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | 4,430 |
Total by loan class, Unpaid Principal Balance | 4,619 |
Total by loan class, Related Allowance | |
Commercial Real Estate [Member] | Commercial Mortgages [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | 1,201 |
With no related allowance recorded, Unpaid Principal Balance | 1,271 |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | 1,201 |
Total by loan class, Unpaid Principal Balance | 1,271 |
Total by loan class, Related Allowance | |
Commercial Real Estate [Member] | Agriculture Mortgages [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | 3,229 |
With no related allowance recorded, Unpaid Principal Balance | 3,348 |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | 3,229 |
Total by loan class, Unpaid Principal Balance | 3,348 |
Total by loan class, Related Allowance | |
Commercial Real Estate [Member] | Construction [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | |
With no related allowance recorded, Unpaid Principal Balance | |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | |
Total by loan class, Unpaid Principal Balance | |
Total by loan class, Related Allowance | |
Commercial and Industrial [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | 190 |
With no related allowance recorded, Unpaid Principal Balance | 199 |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | 190 |
Total by loan class, Unpaid Principal Balance | 199 |
Total by loan class, Related Allowance | |
Commercial and Industrial [Member] | Commercial and Industrial [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | 190 |
With no related allowance recorded, Unpaid Principal Balance | 199 |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | 190 |
Total by loan class, Unpaid Principal Balance | 199 |
Total by loan class, Related Allowance | |
Commercial and Industrial [Member] | Tax-free Loans [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | |
With no related allowance recorded, Unpaid Principal Balance | |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | |
Total by loan class, Unpaid Principal Balance | |
Total by loan class, Related Allowance | |
Commercial and Industrial [Member] | Agriculture Loans [Member] | |
Commercial real estate | |
With no related allowance recorded, Recorded Investment | |
With no related allowance recorded, Unpaid Principal Balance | |
With no related allowance recorded, Related Allowance | |
Commercial real estate | |
With an allowance recorded, Recorded Investment | |
With an allowance recorded, Unpaid Principal Balance | |
With an allowance recorded, Related Allowance | |
Commercial real estate | |
Total by loan class, Recorded Investment | |
Total by loan class, Unpaid Principal Balance | |
Total by loan class, Related Allowance |
Loans and Allowance for Cred_14
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | ||
Commercial Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | $ 6,074 | ||
Impact of adopting ASC 326 | (6,074) | ||
Charge-offs | |||
Recoveries | |||
Provisions (Reductions) | |||
Ending Balance | |||
Consumer Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | 5,442 | ||
Impact of adopting ASC 326 | (5,442) | ||
Charge-offs | |||
Recoveries | |||
Provisions (Reductions) | |||
Ending Balance | |||
Commercial and Industrial [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | 2,151 | ||
Impact of adopting ASC 326 | (2,151) | ||
Charge-offs | |||
Recoveries | 10 | ||
Provisions (Reductions) | 193 | ||
Ending Balance | |||
Consumer [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | 67 | ||
Impact of adopting ASC 326 | (67) | ||
Charge-offs | 1 | ||
Recoveries | 1 | ||
Provisions (Reductions) | (16) | ||
Ending Balance | |||
Agriculture [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | |||
Impact of adopting ASC 326 | 3,537 | ||
Charge-offs | |||
Recoveries | 63 | ||
Provisions (Reductions) | (9) | ||
Ending Balance | 3,591 | ||
Business Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | |||
Impact of adopting ASC 326 | 3,382 | ||
Charge-offs | |||
Recoveries | 13 | ||
Provisions (Reductions) | 78 | ||
Ending Balance | 3,473 | ||
Consumer Loans [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | |||
Impact of adopting ASC 326 | 250 | ||
Charge-offs | (1) | ||
Recoveries | |||
Provisions (Reductions) | 21 | ||
Ending Balance | 270 | ||
Home Equity [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | |||
Impact of adopting ASC 326 | 2,129 | ||
Charge-offs | |||
Recoveries | |||
Provisions (Reductions) | 189 | ||
Ending Balance | 2,318 | ||
Non-Owner Occupied CRE [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | |||
Impact of adopting ASC 326 | 875 | ||
Charge-offs | |||
Recoveries | |||
Provisions (Reductions) | 67 | ||
Ending Balance | 942 | ||
Residential Real Estate [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | |||
Impact of adopting ASC 326 | 4,658 | ||
Charge-offs | |||
Recoveries | 1 | ||
Provisions (Reductions) | 801 | ||
Ending Balance | 5,460 | ||
Unallocated [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | 417 | ||
Impact of adopting ASC 326 | (417) | ||
Charge-offs | |||
Recoveries | |||
Provisions (Reductions) | $ (28) | ||
Ending Balance | |||
Allowance for credit losses [Member] | |||
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses by portfolio segment [Line Items] | |||
Beginning balance | [1] | 14,151 | |
Impact of adopting ASC 326 | [1] | 680 | |
Charge-offs | [1] | (1) | |
Recoveries | [1] | 77 | |
Provisions (Reductions) | [1] | 1,147 | |
Ending Balance | [1] | $ 16,054 | |
[1]Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Loans and Allowance for Cred_15
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended |
Mar. 31, 2023 | Mar. 31, 2022 | |
Allowance for credit losses: | ||
Beginning balance | $ 12,931 | |
Charge-offs | (66) | |
Recoveries | 14 | |
Provision | 100 | |
Ending balance | 12,979 | |
Consumer Real Estate [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 3,834 | |
Charge-offs | ||
Recoveries | 3 | |
Provision | 41 | |
Ending balance | 3,878 | |
Commercial and Industrial [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 2,112 | |
Charge-offs | ||
Recoveries | 10 | |
Provision | 193 | |
Ending balance | 2,315 | |
Consumer [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 87 | |
Charge-offs | (1) | |
Recoveries | 1 | |
Provision | (16) | |
Ending balance | 71 | |
Unallocated [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 635 | |
Charge-offs | ||
Recoveries | ||
Provision | (28) | |
Ending balance | 607 | |
Commercial Real Estate [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 6,263 | |
Charge-offs | (65) | |
Recoveries | ||
Provision | (90) | |
Ending balance | $ 6,108 |
Loans and Allowance for Cred_16
Loans and Allowance for Credit Losses (Details) - Schedule of allowance for credit losses and recorded investment in loans receivable - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 16,054 | 14,151 |
Loans receivable: | ||
Loans receivable, Ending balance | 1,253,974 | 1,188,453 |
Loans receivable, Ending balance: individually evaluated | 3,942 | 4,620 |
Loans receivable, Ending balance: collectively evaluated | 1,250,032 | 1,183,833 |
Agriculture [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 3,591 | |
Loans receivable: | ||
Loans receivable, Ending balance | 240,006 | |
Loans receivable, Ending balance: individually evaluated | 2,591 | |
Loans receivable, Ending balance: collectively evaluated | 237,415 | |
Business Loans [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 3,473 | |
Loans receivable: | ||
Loans receivable, Ending balance | 353,537 | |
Loans receivable, Ending balance: individually evaluated | 1,351 | |
Loans receivable, Ending balance: collectively evaluated | 352,186 | |
Consumer Loans [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 270 | |
Loans receivable: | ||
Loans receivable, Ending balance | 6,061 | |
Loans receivable, Ending balance: collectively evaluated | 6,061 | |
Home Equity [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 2,318 | |
Loans receivable: | ||
Loans receivable, Ending balance | 100,743 | |
Loans receivable, Ending balance: individually evaluated | ||
Loans receivable, Ending balance: collectively evaluated | 100,743 | |
Non- Owner Occupied CRE [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 942 | |
Loans receivable: | ||
Loans receivable, Ending balance | 119,412 | |
Loans receivable, Ending balance: individually evaluated | ||
Loans receivable, Ending balance: collectively evaluated | 119,412 | |
Residential Real Estate [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 5,460 | |
Loans receivable: | ||
Loans receivable, Ending balance | 434,215 | |
Loans receivable, Ending balance: individually evaluated | ||
Loans receivable, Ending balance: collectively evaluated | $ 434,215 | |
Consumer Real Estate [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 5,442 | |
Loans receivable: | ||
Loans receivable, Ending balance | 520,587 | |
Loans receivable, Ending balance: individually evaluated | ||
Loans receivable, Ending balance: collectively evaluated | 520,587 | |
Commercial and Industrial [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 2,151 | |
Loans receivable: | ||
Loans receivable, Ending balance | 143,314 | |
Loans receivable, Ending balance: individually evaluated | 190 | |
Loans receivable, Ending balance: collectively evaluated | 143,124 | |
Consumer [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 67 | |
Loans receivable: | ||
Loans receivable, Ending balance | 5,769 | |
Loans receivable, Ending balance: individually evaluated | ||
Loans receivable, Ending balance: collectively evaluated | 5,769 | |
Unallocated [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 417 | |
Commercial Real Estate [Member] | ||
Allowance for credit losses: | ||
Allowance for credit losses, Ending balance: individually evaluated | ||
Allowance for credit losses, Ending balance: collectively evaluated | 6,074 | |
Loans receivable: | ||
Loans receivable, Ending balance | 518,783 | |
Loans receivable, Ending balance: individually evaluated | 4,430 | |
Loans receivable, Ending balance: collectively evaluated | $ 514,353 |
Fair Value Presentation (Detail
Fair Value Presentation (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Fair Value Presentation (Details) [Line Items] | ||
Impaired loans | $ 3,942,000 | $ 4,620,000 |
CRA Investment Fund [Member] | ||
Fair Value Presentation (Details) [Line Items] | ||
Marketable equity securities, book value | 7,419,000 | 7,345,000 |
Regulatory Bank Stock [Member] | ||
Fair Value Presentation (Details) [Line Items] | ||
Marketable equity securities, book value | 1,703,000 | 1,685,000 |
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Regulatory Bank Stock [Member] | ||
Fair Value Presentation (Details) [Line Items] | ||
Marketable equity securities, book value | $ 1,595,000 | $ 1,773,000 |
Fair Value Presentation (Deta_2
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | $ 503,697 | $ 538,260 |
U.S. Treasuries [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 33,194 | 32,657 |
U.S. Government Agencies [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 23,998 | 24,787 |
U.S. Agency Mortgage-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 44,387 | 45,307 |
U.S. Agency Collateralized Mortgage Obligations [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 23,612 | 27,490 |
Non-Agency MBS/CMO [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 48,765 | 50,250 |
Asset-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 70,118 | 73,234 |
Corporate Bonds [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 63,996 | 69,631 |
Obligations of states & political subdivisions [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 186,613 | 205,786 |
Equity Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 9,014 | 9,118 |
Level I [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 42,208 | 41,775 |
Level I [Member] | U.S. Treasuries [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 33,194 | 32,657 |
Level I [Member] | U.S. Government Agencies [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | U.S. Agency Mortgage-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | Non-Agency MBS/CMO [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | Asset-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | Corporate Bonds [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | Obligations of states & political subdivisions [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level I [Member] | Equity Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 9,014 | 9,118 |
Level II [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 461,489 | 496,485 |
Level II [Member] | U.S. Treasuries [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level II [Member] | U.S. Government Agencies [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 23,998 | 24,787 |
Level II [Member] | U.S. Agency Mortgage-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 44,387 | 45,307 |
Level II [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 23,612 | 27,490 |
Level II [Member] | Non-Agency MBS/CMO [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 48,765 | 50,250 |
Level II [Member] | Asset-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 70,118 | 73,234 |
Level II [Member] | Corporate Bonds [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 63,996 | 69,631 |
Level II [Member] | Obligations of states & political subdivisions [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | 186,613 | 205,786 |
Level II [Member] | Equity Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | U.S. Treasuries [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | U.S. Government Agencies [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | U.S. Agency Mortgage-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | Non-Agency MBS/CMO [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | Asset-Backed Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | Corporate Bonds [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | Obligations of states & political subdivisions [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) | ||
Level III [Member] | Equity Securities [Member] | Fair Value Measured on a Recurring Basis [Member] | ||
Fair Value Presentation (Details) - Schedule of assets measured on a recurring basis [Line Items] | ||
Securities available for sale (at fair value) |
Fair Value Presentation (Deta_3
Fair Value Presentation (Details) - Schedule of assets measured on a nonrecurring basis - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Assets: | ||
Individually analyzed loans | $ 3,942 | |
Impaired Loans | $ 4,620 | |
Total | 3,942 | 4,620 |
Level I [Member] | ||
Assets: | ||
Individually analyzed loans | ||
Impaired Loans | ||
Total | ||
Level II [Member] | ||
Assets: | ||
Individually analyzed loans | ||
Impaired Loans | ||
Total | ||
Level III [Member] | ||
Assets: | ||
Individually analyzed loans | 3,942 | |
Impaired Loans | 4,620 | |
Total | $ 3,942 | $ 4,620 |
Fair Value Presentation (Deta_4
Fair Value Presentation (Details) - Schedule of Level III fair value measurements - Impaired Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Total Fair Value, non-recurring (in Dollars) | $ 3,942 | $ 4,620 | |
Valuation Techniques | [1] | Appraisal of collateral | Appraisal of collateral |
Minimum [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Unobservable inputs - Appraisal adjustments | [2] | 20% | 0% |
Unobservable inputs - Liquidation expenses | [2] | 10% | 0% |
Weighted Average [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Unobservable inputs - Appraisal adjustments | [2] | 20% | 20% |
Unobservable inputs - Liquidation expenses | [2] | 10% | 10% |
Maximum [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Unobservable inputs - Appraisal adjustments | [2] | 20% | |
Unobservable inputs - Liquidation expenses | [2] | 10% | |
[1]Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable.[2]Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments |
Fair Value Presentation (Deta_5
Fair Value Presentation (Details) - Schedule of financial instruments not required to be measured or reported at fair value - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Financial Assets: | |||
Cash and cash equivalents | $ 46,450 | $ 37,572 | $ 79,154 |
Regulatory stock | 7,318 | 6,670 | 5,406 |
Bank owned life insurance | 34,992 | 34,805 | 35,574 |
Financial Liabilities: | |||
Demand deposits | 642,136 | 672,342 | 675,519 |
Total deposits | 1,649,608 | 1,638,958 | 1,517,957 |
Short-term debt | 5,000 | 16,000 | |
Subordinated debt | 39,436 | 39,396 | $ 19,700 |
Carrying Amount [Member] | |||
Financial Assets: | |||
Cash and cash equivalents | 46,450 | 37,572 | |
Regulatory stock | 7,318 | 6,670 | |
Loans held for sale | 875 | 5,927 | |
Loans, net of allowance | 1,240,545 | 1,176,966 | |
Mortgage servicing assets | 2,010 | 2,030 | |
Accrued interest receivable | 6,464 | 6,555 | |
Bank owned life insurance | 34,992 | 34,805 | |
Financial Liabilities: | |||
Demand deposits | 642,136 | 672,342 | |
Interest-bearing demand deposits | 206,668 | 164,208 | |
NOW accounts | 121,684 | 139,846 | |
Money market deposit accounts | 168,991 | 163,836 | |
Savings accounts | 351,027 | 364,897 | |
Time deposits | 159,102 | 133,829 | |
Total deposits | 1,649,608 | 1,638,958 | |
Short-term debt | 16,000 | ||
Short-term borrowings | 5,000 | ||
Long-term debt | 78,639 | 58,039 | |
Subordinated debt | 39,436 | 39,396 | |
Accrued interest payable | 1,427 | 597 | |
Fair Value [Member] | |||
Financial Assets: | |||
Cash and cash equivalents | 46,450 | 37,572 | |
Regulatory stock | 7,318 | 6,670 | |
Loans held for sale | 875 | 5,927 | |
Loans, net of allowance | 1,191,004 | 1,112,400 | |
Mortgage servicing assets | 2,831 | 2,894 | |
Accrued interest receivable | 6,464 | 6,555 | |
Bank owned life insurance | 34,992 | 34,805 | |
Financial Liabilities: | |||
Demand deposits | 642,136 | 672,342 | |
Interest-bearing demand deposits | 206,668 | 164,208 | |
NOW accounts | 121,684 | 139,846 | |
Money market deposit accounts | 168,991 | 163,836 | |
Savings accounts | 351,027 | 364,897 | |
Time deposits | 155,728 | 129,422 | |
Total deposits | 1,646,234 | 1,634,551 | |
Short-term debt | 15,721 | ||
Short-term borrowings | 4,967 | ||
Long-term debt | 78,120 | 56,431 | |
Subordinated debt | 35,564 | 35,975 | |
Accrued interest payable | 1,427 | 597 | |
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | |||
Financial Assets: | |||
Cash and cash equivalents | 46,450 | 37,572 | |
Regulatory stock | 7,318 | 6,670 | |
Loans held for sale | 875 | 5,927 | |
Loans, net of allowance | |||
Mortgage servicing assets | |||
Accrued interest receivable | 6,464 | 6,555 | |
Bank owned life insurance | 34,992 | 34,805 | |
Financial Liabilities: | |||
Demand deposits | 642,136 | 672,342 | |
Interest-bearing demand deposits | 206,668 | 164,208 | |
NOW accounts | 121,684 | 139,846 | |
Money market deposit accounts | 168,991 | 163,836 | |
Savings accounts | 351,027 | 364,897 | |
Time deposits | |||
Total deposits | 1,490,506 | 1,505,129 | |
Short-term borrowings | |||
Long-term debt | |||
Subordinated debt | |||
Accrued interest payable | 1,427 | 597 | |
Significant Other Observable Inputs (Level II) [Member] | |||
Financial Assets: | |||
Cash and cash equivalents | |||
Regulatory stock | |||
Loans held for sale | |||
Loans, net of allowance | |||
Mortgage servicing assets | |||
Accrued interest receivable | |||
Bank owned life insurance | |||
Financial Liabilities: | |||
Demand deposits | |||
Interest-bearing demand deposits | |||
NOW accounts | |||
Money market deposit accounts | |||
Savings accounts | |||
Time deposits | |||
Total deposits | |||
Short-term borrowings | |||
Long-term debt | |||
Subordinated debt | |||
Accrued interest payable | |||
Significant Unobservable Inputs (Level III) [Member] | |||
Financial Assets: | |||
Cash and cash equivalents | |||
Regulatory stock | |||
Loans held for sale | |||
Loans, net of allowance | 1,191,004 | 1,112,400 | |
Mortgage servicing assets | 2,831 | 2,894 | |
Accrued interest receivable | |||
Bank owned life insurance | |||
Financial Liabilities: | |||
Demand deposits | |||
Interest-bearing demand deposits | |||
NOW accounts | |||
Money market deposit accounts | |||
Savings accounts | |||
Time deposits | 155,728 | 129,422 | |
Total deposits | 155,728 | 129,422 | |
Short-term debt | 15,721 | ||
Short-term borrowings | 4,967 | ||
Long-term debt | 78,120 | 56,431 | |
Subordinated debt | 35,564 | $ 35,975 | |
Accrued interest payable |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Details) $ in Millions | Mar. 31, 2023 USD ($) |
Commitments and Contingent Liabilities (Details) [Line Items] | |
Commitment to extend credit | $ 590.7 |
Commitments to Extend Credit [Member] | |
Commitments and Contingent Liabilities (Details) [Line Items] | |
Commitment to extend credit | 105 |
Line of Credit [Member] | |
Commitments and Contingent Liabilities (Details) [Line Items] | |
Commitment to extend credit | 474.6 |
Letter of Credit [Member] | |
Commitments and Contingent Liabilities (Details) [Line Items] | |
Commitment to extend credit | $ 11.1 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Details) | 3 Months Ended |
Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Federal income tax rate percentage | 21% |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of accumulated other comprehensive income (loss) - Unrealized Gains/(Losses) on Securities Available-for-Sale [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of accumulated other comprehensive income (loss) [Line Items] | |||
Beginning Balance | [1],[2] | $ (48,292) | $ 3,441 |
Period change | [1],[2] | 7,659 | (23,739) |
Ending Balance | [1],[2] | (40,633) | (20,298) |
Other comprehensive income before reclassifications | [1],[2] | 7,335 | (23,629) |
Amount reclassified from accumulated other comprehensive loss | [1],[2] | $ 324 | $ (110) |
[1]All amounts are net of tax. Related income tax expense or benefit is calculated using a Federal income tax rate of 21%.[2]Amounts in parentheses indicate debits. |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of accumulated other comprehensive income (loss) components - Securities available-for-sale [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Securities available-for-sale: | |||
Net securities gains reclassified into earnings description | [1] | Gains on the sale of debt securities, net | |
Related income tax (benefit) expense description | [1] | Provision for federal income taxes | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Securities available-for-sale: | |||
Net securities (losses) gains,reclassified into earnings | [1] | $ (410) | $ 139 |
Related income tax (benefit) expense | [1] | 86 | (29) |
Net effect on accumulated other comprehensive income (loss) for the period | [1] | $ (324) | $ 110 |
[1]Amounts in parentheses indicate debits. |