Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 09, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | FNCB BANCORP, INC. | ||
Entity Central Index Key | 0001035976 | ||
Trading Symbol | fncb | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 20,173,308 | ||
Entity Public Float | $ 131,946,706 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 22,861 | $ 26,673 |
Interest-bearing deposits in other banks | 11,704 | 9,808 |
Total cash and cash equivalents | 34,565 | 36,481 |
Available-for-sale debt securities, at fair value | 272,839 | 296,032 |
Equity securities, at fair value | 920 | 891 |
Restricted stock, at cost | 3,804 | 3,123 |
Loans held for sale | 1,061 | 820 |
Loans, net of allowance for loan and lease losses of $8,950 and $9,519 | 819,529 | 829,581 |
Bank premises and equipment, net | 17,518 | 14,425 |
Accrued interest receivable | 3,234 | 3,614 |
Bank-owned life insurance | 31,230 | 31,015 |
Other real estate owned | 289 | 919 |
Net deferred tax assets | 6,278 | 10,693 |
Other assets | 12,274 | 10,138 |
Total assets | 1,203,541 | 1,237,732 |
Liabilities | ||
Demand (non-interest-bearing) | 179,465 | 156,600 |
Interest-bearing | 822,244 | 939,029 |
Total deposits | 1,001,709 | 1,095,629 |
Federal Home Loan Bank of Pittsburgh advances | 46,909 | 18,930 |
Subordinated debentures | 5,000 | |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 57,219 | 34,240 |
Accrued interest payable | 258 | 338 |
Other liabilities | 10,748 | 10,306 |
Total liabilities | 1,069,934 | 1,140,513 |
Shareholders' equity | ||
Preferred stock ($1.25 par) Authorized: 20,000,000 shares at December 31, 2019 and December 31, 2018 Issued and outstanding: 0 shares at December 31, 2019 and December 31, 2018 | ||
Common stock ($1.25 par) Authorized: 50,000,000 shares at December 31, 2019 and December 31, 2018 Issued and outstanding: 20,171,408 shares at December 31, 2019 and 16,821,371 shares at December 31, 2018 | 25,214 | 21,026 |
Additional paid-in capital | 81,130 | 63,547 |
Retained earnings | 24,207 | 17,186 |
Accumulated other comprehensive income (loss) | 3,056 | (4,540) |
Total shareholders' equity | 133,607 | 97,219 |
Total liabilities and shareholders’ equity | $ 1,203,541 | $ 1,237,732 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans, allowance for loan and lease losses | $ 8,950 | $ 9,519 |
Preferred shares, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Preferred shares, authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred shares, issued (in shares) | 0 | 0 |
Preferred shares, outstanding (in shares) | 0 | 0 |
Common shares, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Common shares, authorized (in shares) | 50,000,000 | 50,000,000 |
Common shares, issued (in shares) | 20,171,408 | 16,821,371 |
Common shares, outstanding (in shares) | 20,171,408 | 16,821,371 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Interest income | ||
Interest and fees on loans | $ 37,818 | $ 36,381 |
Interest and dividends on securities: | ||
U.S. government agencies | 3,545 | 3,565 |
State and political subdivisions, tax-free | 149 | 133 |
State and political subdivisions, taxable | 3,263 | 4,105 |
Other securities | 1,093 | 813 |
Total interest and dividends on securities | 8,050 | 8,616 |
Interest on interest-bearing deposits in other banks | 188 | 88 |
Total interest income | 46,056 | 45,085 |
Interest expense | ||
Interest on deposits | 8,101 | 5,925 |
Federal Home Loan Bank of Pittsburgh advances | 1,241 | 2,025 |
Subordinated debentures | 24 | 228 |
Junior subordinated debentures | 430 | 400 |
Total interest on borrowed funds | 1,695 | 2,653 |
Total interest expense | 9,796 | 8,578 |
Net interest income before provision for loan and lease losses | 36,260 | 36,507 |
Provision for loan and lease losses | 797 | 2,550 |
Net interest income after provision for loan and lease losses | 35,463 | 33,957 |
Non-interest income | ||
Deposit service charges | 3,035 | 2,885 |
Net gain (loss) on the sale of available-for-sale securities | 1,227 | (4) |
Net gain (loss) on equity securities | 29 | (27) |
Net gain on the sale of mortgage loans held for sale | 253 | 210 |
Net gain on the sale of SBA guaranteed loans | 322 | |
Net gain on the sale of other real estate owned | 20 | 31 |
Loan-related fees | 378 | 390 |
Income from bank-owned life insurance | 520 | 555 |
Insurance recovery | 6,027 | |
Loan referral fees | 703 | |
Other | 1,455 | 1,401 |
Total non-interest income | 7,620 | 11,790 |
Non-interest expense | ||
Salaries and employee benefits | 15,518 | 14,780 |
Occupancy expense | 1,948 | 2,191 |
Equipment expense | 1,319 | 1,254 |
Advertising expense | 738 | 699 |
Data processing expense | 3,113 | 2,799 |
Regulatory assessments | 306 | 861 |
Bank shares tax | 566 | 636 |
Professional fees | 1,056 | 1,028 |
Other losses | 156 | 598 |
Other operating expenses | 4,962 | 4,481 |
Total non-interest expense | 29,682 | 29,327 |
Income before income tax expense | 13,401 | 16,420 |
Income tax expense | 2,326 | 3,071 |
Net income | $ 11,075 | $ 13,349 |
Earnings per share | ||
Basic (in dollars per share) | $ 0.56 | $ 0.79 |
Diluted (in dollars per share) | 0.56 | 0.79 |
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.17 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||
Basic (in shares) | 19,802,095 | 16,799,004 |
Diluted (in shares) | 19,807,592 | 16,820,753 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 11,075 | $ 13,349 |
Other comprehensive income (loss): | ||
Unrealized gains (losses) on available-for-sale debt securities | 10,842 | (3,624) |
Taxes | (2,277) | 761 |
Net of tax amount | 8,565 | (2,863) |
Reclassification adjustment for net (gains) losses included in net income | (1,227) | 4 |
Taxes | 258 | (1) |
Net of tax amount | (969) | 3 |
Total other comprehensive income (loss) | 7,596 | (2,860) |
Comprehensive income | $ 18,671 | $ 10,489 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2017 | 16,757,963 | ||||
Balance at Dec. 31, 2017 | $ 20,947 | $ 63,210 | $ 6,779 | $ (1,745) | $ 89,191 |
Net income for the year | 13,349 | 13,349 | |||
Cash dividends | (2,857) | (2,857) | |||
Reclassification of unrealized loss on equity securities | (65) | 65 | |||
Restricted stock awards | 279 | 279 | |||
Common shares issued under long-term incentive compensation plan (in shares) | 46,358 | ||||
Common shares issued under long-term incentive compensation plan | $ 58 | (58) | |||
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 17,050 | 17,050 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 21 | 116 | (20) | $ 117 | |
Other comprehensive income (loss), net of tax | (2,860) | (2,860) | |||
Balances (in shares) at Dec. 31, 2018 | 16,821,371 | ||||
Balance at Dec. 31, 2018 | $ 21,026 | 63,547 | 17,186 | (4,540) | 97,219 |
Net income for the year | 11,075 | 11,075 | |||
Cash dividends | (4,030) | (4,030) | |||
Reclassification of unrealized loss on equity securities | |||||
Restricted stock awards | 255 | 255 | |||
Common shares issued under long-term incentive compensation plan (in shares) | 57,118 | ||||
Common shares issued under long-term incentive compensation plan | $ 71 | 79 | $ 150 | ||
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 7,369 | 7,369 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 10 | 48 | (24) | $ 34 | |
Other comprehensive income (loss), net of tax | 7,596 | 7,596 | |||
Common shares issued for capital raise, net (in shares) | 3,285,550 | ||||
Common shares issued for capital raise, net | $ 4,107 | 17,201 | 21,308 | ||
Balances (in shares) at Dec. 31, 2019 | 20,171,408 | ||||
Balance at Dec. 31, 2019 | $ 25,214 | $ 81,130 | $ 24,207 | $ 3,056 | $ 133,607 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash dividends declared, per share (in dollars per share) | $ 0.20 | $ 0.17 |
Other comprehensive income (loss), tax | $ 2,019 | $ 760 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 11,075 | $ 13,349 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 746 | 824 |
Equity in trust | (13) | (12) |
Depreciation and amortization | 2,987 | 2,968 |
Valuation adjustment for loan servicing rights | 2 | |
Stock-based compensation expense | 405 | 279 |
Provision for loan and lease losses | 797 | 2,550 |
Valuation adjustment for off-balance sheet commitments | 448 | (127) |
Net (gain) loss on the sale of available-for-sale debt securities | (1,227) | 4 |
Net (gain) loss on equity securities | (29) | 27 |
Net gain on the sale of mortgage loans held for sale | (253) | (210) |
Net gain on the sale of SBA guaranteed loans | (322) | |
Net gain on the sale of other real estate owned | (20) | (31) |
Valuation adjustment of other real estate owned | 85 | 102 |
Loss on the disposition of bank premises and equipment | 35 | 328 |
Gain on bank-owned life insurance settlement | (114) | |
Income from bank-owned life insurance | (520) | (555) |
Proceeds from the sale of mortgage loans held for sale | 9,900 | 9,819 |
Funds used to originate mortgage loans held for sale | (9,887) | (9,334) |
Decrease in net deferred tax assets | 2,396 | 5,835 |
Decrease (increase) in accrued interest receivable | 380 | (380) |
Increase in prepaid expenses and other assets | (2,107) | (2,347) |
(Decrease) increase in accrued interest payable | (80) | 97 |
Decrease in director indemnification liability | (2,553) | |
(Decrease) increase in accrued expenses and other liabilities | (354) | 2,839 |
Total adjustments | 3,577 | 9,801 |
Net cash provided by operating activities | 14,652 | 23,150 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale debt securities | 11,051 | 6,676 |
Proceeds from the sale of available-for-sale debt securities | 128,233 | 4,559 |
Purchases of available-for-sale debt securities | (105,995) | (22,256) |
Purchase of the stock in Federal Home Loan Bank of Pittsburgh | (681) | (360) |
Net decrease (increase) in loans to customers | 7,737 | (77,924) |
Proceeds from the sale of SBA guaranteed loans | 6,032 | |
Proceeds from the sale of other real estate owned | 821 | 470 |
Proceeds received from bank-owned life insurance settlement | 419 | |
Proceeds received from sale of bank premises and equipment | 16 | |
Purchases of bank premises and equipment | (4,540) | (6,015) |
Net cash provided by (used in) investing activities | 37,061 | (88,818) |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (93,920) | 93,181 |
Net proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | 7,500 | 6,600 |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 70,000 | 73,929 |
Repayment of Federal Home Loan Bank of Pittsburgh advances - term | (49,521) | (106,567) |
Principal reduction on subordinated debentures | (5,000) | |
Proceeds from issuance of common shares, net of discount | 21,342 | 117 |
Cash dividends paid | (4,030) | (2,857) |
Net cash (used in) provided by financing activities | (53,629) | 64,403 |
Net decrease in cash and cash equivalents | (1,916) | (1,265) |
Cash and cash equivalents at beginning of year | 36,481 | 37,746 |
Cash and cash equivalents at end of year | 34,565 | 36,481 |
Supplemental cash flow information | ||
Interest | 9,876 | 8,481 |
Income taxes | 23 | |
Other transactions: | ||
Lease liabilities arising from obtaining right-of-use assets | 92 | |
Bank premises and equipment transferred to other real estate owned | 291 | |
Loans transferred to other real estate owned and repossessed assets | 146 | |
Investor loans transferred to other real estate owned | $ 256 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. FNCB Bancorp, Inc. is a registered bank holding company under the Bank Holding Company Act of 1956 1997. ’s wholly owned subsidiaries FNCB Realty Company, Inc., FNCB Realty Company I, LLC, and FNCB Realty Company II, LLC. Unless the context otherwise requires, the term “FNCB” is used to refer to FNCB Bancorp, Inc., and its subsidiaries. In certain circumstances, however, the term “FNCB” refers to FNCB Bancorp, Inc., itself. The Bank provides customary retail and commercial banking services to individuals, businesses and local governments and municipalities through its 17 full-service branch locations within its primary market area, Northeastern Pennsylvania and its limited purpose office (“LPO”) based in Allentown, Lehigh County, Pennsylvania. FNCB Realty Company, Inc., FNCB Realty Company I, LLC, and FNCB Realty Company II, LLC were formed to hold real estate and/or operate businesses acquired in exchange for debt settlement or foreclosure. In December 2006, 810 10, not not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. Basis of Presentation The consolidated financial statements of FNCB are comprised of the accounts of FNCB Bancorp, Inc., and its wholly-owned subsidiary, FNCB Bank, as well as the Bank’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”), Regulation S- X not The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to change in the near term are the allowance for loan and lease losses (“ALLL”), securities’ valuation and impairment evaluation, the valuation of other real estate owned (“OREO”), and income taxes. Cash Equivalents For purposes of reporting cash flows, cash equivalents include cash on hand and amounts due from banks. Securities Debt Securities FNCB classifies its investments in debt securities as either held-to-maturity or available-for-sale at the time of purchase. Debt securities that are classified as held-to-maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities that are classified as available-for-sale are carried at fair value with unrealized holding gains and losses recognized as a component of shareholders’ equity in accumulated other comprehensive income (loss), net of tax. Amortization of premiums and accretion of discounts is recognized over the life of the related security as an adjustment to yield using the interest method. Realized gains and losses on sales of debt securities are based on amortized cost using the specific identification method on the trade date. All of FNCB's debt securities were classified as available-for-sale at December 31, 2019 2018. Equity Securities with Readily Determinable Fair Value FNCB's equity securities consist entirely of a mutual fund investment comprised of 1 4 Fair values for debt securities and equity securities with readily determinable fair values are based upon quoted market prices, where available. If quoted market prices are not Restricted Securities Investments in restricted securities have limited marketability, are carried at cost and are evaluated for impairment based on FNCB’s determination of the ultimate recoverability of the par value of the stock. FNCB’s investment in restricted securities, comprised of stock in the Federal Home Loan Bank of Pittsburgh and Atlantic Community Bankers Bank. Equity Securities without Readily Determinable Fair Value Equity securities without readily determinable fair values consist entirely of FNCB's investment in the common stock of a privately-held bank holding company. Equity securities without readily determinable fair values are carried at cost and included in other assets in the consolidated statements of financial condition. On a quarterly basis, management performs a qualitative assessment to determine if the investment is impaired. If the qualitative assessment indicates impairment, the investment is written down to its fair value, with the charge for impairment included in net income. Evaluation for Other Thank Temporary Impairment On a quarterly basis, management evaluates all securities in an unrealized loss position for other than temporary impairment (“OTTI”). An individual security is considered impaired when its current fair value is less than its amortized cost basis. As part of its evaluation, management considers the following factors, among other things, in determining whether the security’s impairment is other than temporary: ● the length of time and extent of the impairment; ● the causes of the decline in fair value, such as credit deterioration, interest rate fluctuations, or market volatility; ● adverse industry or geographic conditions; ● historical implied volatility; ● payment structure of the security and whether FNCB expects to receive all contractual cash flows; ● failure of the issuer to make contractual interest or principal payments in the past; and ● changes in the security’s rating. Based on current authoritative guidance, when a held-to-maturity or available-for-sale security is assessed for first not one not two not Loans and Loan Origination Fees and Costs Loans 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 balance, net of unamortized deferred loan fees and costs, any unearned income and partial charge-offs. Loans receivable are presented net of the allowance for loan and lease losses in the consolidated statements of financial condition. Interest income on all loans is recognized using the effective interest method. Nonrefundable loan origination fees, as well as certain direct loan origination costs, are deferred and the net amount amortized over the contractual life of the related loan as an adjustment to yield using the effective interest method. Amortization of deferred loan fees or costs is discontinued when a loan is placed on non-accrual status. Loans are placed on non-accrual status when a loan is specifically determined to be impaired or when management believes that the collection of interest or principal is doubtful. This generally occurs when a default of interest or principal has existed for 90 90 first six no In accordance with federal regulations, prior to making, extending, renewing or advancing additional funds in excess of $ 400 third may Troubled Debt Restructurings FNCB considers a loan to be a troubled debt restructuring (“TDR”) when it grants a concession to the borrower for legal or economic reasons related to the borrower’s financial difficulties that it would not six Loan Impairment A loan is considered impaired when it is probable that FNCB will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the note and loan agreement. For purposes of the analysis, all TDRs, loan relationships with an aggregate outstanding balance greater than $100 not may Generally, all loans with balances of $100 not $100 Impaired loans, or portions thereof, are charged-off upon determination that all or a portion of the loan balance is uncollectible and exceeds the fair value of the collateral. A loan is considered uncollectible when the borrower is delinquent with respect to principal or interest repayment and it is unlikely that the borrower will have the ability to pay the debt in a timely manner, collateral value is insufficient to cover the outstanding indebtedness and the guarantors (if applicable) do not Allowance for Loan and Lease Losses Management evaluates the credit quality of FNCB’s loan portfolio on an ongoing basis and performs a formal review of the adequacy of the ALLL on a quarterly basis. The ALLL is established through a provision for loan losses charged to earnings and is maintained at a level that management considers adequate to absorb estimated probable losses inherent in the loan portfolio as of the evaluation date. Loans, or portions of loans, determined by management to be uncollectible are charged off against the ALLL, while recoveries of amounts previously charged off are credited to the ALLL. Determining the amount of the ALLL is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, qualitative factors, and consideration of current economic trends and conditions, all of which may may FNCB's allowance methodology consists primarily of two $100 may unallocated component may not When establishing the ALLL, management categorizes loans into the following loan segments that are based generally on the nature of the collateral and basis of repayment. The risk characteristics of FNCB’s loan segments are as follows: Construction, Land Acquisition and Development Loans one four not 65%. 85% Commercial Real Estate Loans not not 25 85%. Commercial and Industrial Loans - may State and Political Subdivision Loans Residential Real Estate Loans 1 4 first 80% 80% may Consumer Loans 90% 15 Off-Balance-Sheet Credit-Related Financial Instruments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments include commitments to extend credit, unused portions of lines of credit, including revolving HELOCs, and letters of credit. FNCB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument is represented by the contractual notional amount of these instruments. FNCB uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In order to provide for probable losses inherent in these instruments, FNCB records a reserve for unfunded commitments, included in other liabilities on the consolidated statements of financial condition, with the offsetting expense recorded in other operating expenses in the consolidated statements of income. Mortgage Banking Activities, Loan Sales and Servicing Mortgage loans originated and held for sale are carried at the lower of aggregate cost or fair value determined on an individual loan basis. Net unrealized losses are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold and include the value assigned to the rights to service the loan. FNCB may Servicing rights are recorded at fair value upon sale of the loan and reported in other assets on the consolidated statements of financial condition. Servicing rights are amortized in proportion to and over the period during which estimated servicing income will be received. Fair value is based on market prices for comparable servicing contracts, when available, or alternately, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing rights are evaluated for impairment at each reporting date based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranche. If management later determines that all or a portion of the impairment no may Other Real Estate Owned OREO consists of property acquired by foreclosure, abandonment or conveyance of deed in-lieu of foreclosure of a loan, and bank premises that are no no may Bank Premises and Equipment Land is stated at cost. Bank premises, equipment and leasehold improvements are stated at cost less accumulated depreciation. Costs for routine maintenance and repairs are expensed as incurred, while significant expenditures for improvements are capitalized. Depreciation expense is computed generally using the straight-line method over the following ranges of estimated useful lives, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Buildings and improvements (years) 5 to 40 Furniture, fixtures and equipment (years) 3 to 20 Leasehold improvements (years) 3 to 35 Long-lived Assets Intangible assets and bank premises and equipment are reviewed by management at least annually for potential impairment and whenever events or circumstances indicate that carrying amounts may not Income Taxes FNCB recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than- not not FNCB files a consolidated Federal income tax return. Under tax sharing agreements, each subsidiary provides for and settles income taxes with FNCB as if it would have filed on a separate return basis. Interest and penalties, if any, as a result of a taxing authority examination are recognized within non-interest expense. FNCB is not no 2016. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than- not not not 50% no x December 31, 2019 2018. Earnings per Share Earnings per share is calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per share reflect additional shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may Stock-Based Compensation FNCB is required to measure and record compensation expense for stock-based payments based on the instrument’s fair value on the date of the grant. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model. The fair value of shares of restricted stock awarded under the Long Term Incentive Compensation Plan (“LTIP”) is determined using an average of the high and low prices for FNCB’s common stock for the 10 Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) represents the cash surrender value of life insurance policies on certain current and former directors and officers of FNCB. FNCB purchased the insurance as a tax-deferred investment and future source of funding for liabilities, including the payment of employee benefits such as health care. BOLI is carried in the consolidated statements of financial condition at its cash surrender value. Increases in the cash value of the policies, as well as proceeds received, are recorded in non-interest income. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $113 $111 December 31, 2019 2018, Fair Value Measurement FNCB uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale debt securities are recorded at fair value on a recurring basis. Additionally, from time to time, FNCB may Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not Accounting standards define fair value, establish a framework for measuring fair value, establish a three The three ● Level 1 ● Level 2 not ● Level 3 not Revenue Recognition On January 1, 2018, 2014 09, 606 606 340 40 2014 09 not no ● Deposit service charges - include general service fees for monthly account maintenance, account analysis fees, non-sufficient funds fees, wire transfer fees and other deposit account related fees. Revenue is recognized when FNCB’s performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for service charges on deposit accounts is received immediately or in the following month through a direct charge to customers’ accounts. Also included in deposit service charges is income from ATM surcharges and debit card services income. ATM surcharges are generated when an FNCB cardholder uses a an ATM that is not ● Net gains on the sale of other real estate owned - FNCB records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When FNCB finances the sale of OREO to the buyer, FNCB assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, FNCB adjusts the transaction prices and related gain (loss) on sale if a significant financing component is present. ● Loan referral fees represent fees FNCB receives from a third not no ● Other income third third no Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the statement of financial condition, such items, along with net income, are components of comprehensive income. New Authoritative Accounting Guidance Accounting Standards Update ("ASU") 2016 02, 842 12 2016 02 2016 02 December 15, 2018 January 1, 2019 applied the standard by recording a cumulative effect adjustment at that date. may 2016 02 $3.2 $3.7 12, 8, 10 ASU 2017 08, 310 not 2017 08 December 15, 2018 January 1, 2019 not Accounting Guidance to be Adopted in Future Periods ASU 2016 13, 326 2016 13 not not June 17, 2016, 2016 13 not 2016 13, 2016 13 1934, December 15, 2019, may December 15, 2018, November 15, 2019, 2019 10, 326 815 842 not 2019 10 not December 15, 2022. January 1, 2023. CECL 2016 13 not 1 2 3 4 may ASU 2018 13 820 820, 8: 820 2018 13 December 15, 2019 January 1, 2020 not ASU 2018 15 350 40 2018 15 350 40 2018 15 December 15, 2019 December 15, 2019, January 1, 2020 not ASU 2019 12 740 740. 740 2019 12 not 2019 12 December 15, 2020 December 15, 2021, December 15, 2022, January 1, 2022 not ASU 2020 01 321 323 815 321 321; 321 2020 01 December 15, 2020 December 15, 2021 January 1, 2022 not |
Note 3 - Restricted Cash Balanc
Note 3 - Restricted Cash Balances | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 3. FNCB is required to maintain average reserve balances as established by the Federal Reserve Bank. The required reserve balance was $ 1.6 December 31, 2019 2018. In addition, FNCB maintains compensating balances at correspondent banks, most of which are not December 31, 2019 and 2018, $1.2 $2.8 |
Note 4 - Securities
Note 4 - Securities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4. Debt Securities The following tables present the amortized cost, gross unrealized gains and losses, and the fair value of FNCB ’s available-for-sale debt securities at December 31, 2019 2018: December 31, 2019 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 115,428 $ 2,694 $ 359 $ 117,763 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 79,606 780 92 80,294 Collateralized mortgage obligations - commercial 17,414 320 11 17,723 Mortgage-backed securities 18,142 343 - 18,485 Private collateralized mortgage obligations 25,069 49 43 25,075 Corporate debt securities 7,000 182 - 7,182 Asset-backed securities 5,618 4 1 5,621 Negotiable certificates of deposit 694 2 - 696 Total available-for-sale debt securities $ 268,971 $ 4,374 $ 506 $ 272,839 December 31, 2018 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 154,268 $ 214 $ 2,295 $ 152,187 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 35,147 6 946 34,207 Collateralized mortgage obligations - commercial 76,038 - 2,398 73,640 Mortgage-backed securities 24,165 47 278 23,934 Private collateralized mortgage obligations 2,908 7 2 2,913 Corporate debt securities 5,000 14 78 4,936 Asset-backed securities 1,825 - 23 1,802 Negotiable certificates of deposit 2,428 - 15 2,413 Total available-for-sale debt securities $ 301,779 $ 288 $ 6,035 $ 296,032 Except for securities of U.S. government and government-sponsored agencies, there were no 10.0% December 31, 2019 2018. The following table presents the maturity information of FNCB’s available-for-sale debt securities at December 31, 2019. may not not December 31, 2019 Available-for-Sale Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 2,195 $ 2,201 After one year through five years 49,724 50,936 After five years through ten years 51,056 52,525 After ten years 20,147 19,979 Asset-backed securities 5,618 5,621 Collateralized mortgage obligations 122,089 123,092 Mortgage-backed securities 18,142 18,485 Total $ 268,971 $ 272,839 The following table presents the gross proceeds received and gross realized gains and losses on sales of available-for-sale debt securities for the years ended December 31, 2019 and 2018 . Year Ended December 31, (in thousands) 2019 2018 Available-for-sale debt securities: Gross proceeds received on sales $ 128,233 $ 4,559 Gross realized gains 1,257 - Gross realized losses (30 ) (4 ) The following tables present the number of, fair value and gross unrealized losses of available-for-sale debt securities with unrealized losses at December 31, 2019 and 2018, December 31, 2019 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 10 $ 19,436 $ 359 - $ - $ - 10 $ 19,436 $ 359 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 4 19,934 92 - - - 4 19,934 92 Collateralized mortgage obligations - commercial 1 2,500 11 - - - 1 2,500 11 Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 18,990 43 - - - 4 18,990 43 Corporate debt securities - - - - - - - - - Asset-backed securities 2 888 1 - - - 2 888 1 Negotiable certificates of deposit - - - - - - - - - Total 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 December 31, 2018 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 3 $ 7,154 $ 205 109 $ 112,563 $ 2,090 112 $ 119,717 $ 2,295 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential - - - 14 31,414 946 14 31,414 946 Collateralized mortgage obligations - commercial - - - 25 73,640 2,398 25 73,640 2,398 Mortgage-backed securities 1 52 - 6 10,294 278 7 10,346 278 Private collateralized mortgage obligations 1 950 2 - - - 1 950 2 Corporate debt securities 2 2,922 78 - - - 2 2,922 78 Asset-backed securities 1 369 2 1 1,433 21 2 1,802 23 Negotiable certificates of deposit 3 740 3 7 1,673 12 10 2,413 15 Total 11 $ 12,187 $ 290 162 $ 231,017 $ 5,745 173 $ 243,204 $ 6,035 Management evaluates individual securities in an unrealized loss position quarterly for OTTI. As part of its evaluation, management considers, among other things, the length of time a security ’s fair value is less than its amortized cost, the severity of decline, any credit deterioration of the issuer, whether or not not There were 21 securities in an unrealized loss position at December 31, 2019, 10 5 4 2 December 31, 2019 no may December 31, 2019. not not not December 31, 2019. Equity Securities FNCB’s investment in equity securities consists entirely of a mutual fund investment comprised of 1 4 December 31, 2019 2018, $1.0 $80 $109 $920 $891 December 31, 2019 2018. 2016 01, 825 10 January 1, 2018. one $65 The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the years ended December 31, 2019 2018. Year Ended December 31, (in thousands) 2019 2018 Net gain (loss) recognized on equity securities $ 29 $ (27 ) Less: net gains (losses) recognized on equity securities sold - - Unrealized gain (loss) recognized on equity securities held $ 29 $ (27 ) Restricted Securities The following table presents FNCB's investment in restricted securities at December 31, 2019 2018 December 31, (in thousands) 2019 2018 Stock in Federal Home Loan Bank of Pittsburgh $ 3,794 $ 3,113 Stock in Atlantic Community Bankers Bank 10 10 Total restricted securities, at cost $ 3,804 $ 3,123 Management noted no December 31, 2019 2018. Equity Securities without Readily Determinable Fair Values FNCB owns 201,000 2017 $8.25 $1.7 1933, not not not $1.7 December 31, 2019 2018. On December 18, 2019, third 2020, 0.6212 $16.50 25% 75% no December 31, 2019. |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5. The following table summarizes loans receivable, net, by category at December 31, 2019 and 2018: December 31, (in thousands) 2019 2018 Residential real estate $ 170,723 $ 164,833 Commercial real estate 278,379 262,778 Construction, land acquisition and development 47,484 20,813 Commercial and industrial 147,623 150,962 Consumer 138,239 176,784 State and political subdivisions 43,908 59,037 Total loans, gross 826,356 835,207 Unearned income (69 ) (70 ) Net deferred loan costs 2,192 3,963 Allowance for loan and lease losses (8,950 ) (9,519 ) Loans, net $ 819,529 $ 829,581 FNCB has granted loans, letters of credit and lines of credit to certain of its executive officers and directors as well as to certain of their related parties. For more information about related party transactions, refer to Note 11, For information about credit concentrations within FNCB ’s loan portfolio, refer to Note 12, FNCB originates 1 4 December 31, 2019 2018 1 4 $9.6 $253 2019 $210 2018. December 31, 2019 December 31, 2018, $1.1 $820 1 4 For the year ended December 31, 2018, $5.7 $322 2018. no 31, 2019. $106.0 $108.4 December 31, 2019 2018, FNCB does not FNCB provides for loan losses based on the consistent application of its documented ALLL methodology. Loan losses are charged to the ALLL and recoveries are credited to it. Additions to the ALLL are provided by charges against income based on various factors which, in management ’s judgment, deserve current recognition of estimated probable losses. Loan losses are charged-off in the period the loans, or portions thereof, are deemed uncollectible. Generally, FNCB will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated recoverable amount based on its methodology detailed below. Management regularly reviews the loan portfolio and makes adjustments for loan losses in order to maintain the ALLL in accordance with GAAP. The ALLL consists primarily of the following two ( 1 Specific allo wances are established for impaired loans, which FNCB defines as all loan relationships with an aggregate outstanding balance greater than $100 - accrual, loans rated doubtful or loss, and all TDRs. The amount of impairment provided for as an allowance is represented by the deficiency, if any, between the carrying value of the loan and either (a) the present value of expected future cash flows discounted at the loan’s effective interest rate, (b) the loan’s observable market price, or (c) the fair value of the underlying collateral, less estimated costs to sell, for collateral dependent loans. Impaired loans that have no not ( 2 General allowances are established for loan losses on a portfolio basis for loans that do not As part of its evaluation, management considers qualitative and environmental factors, including, but not ● changes in national, local, and business economic conditions and developments, including the condition of various market segments; ● changes in the nature and volume of the loa n portfolio; ● changes in lending policies and procedures, including underwriting standards, collection, charge-off and recovery practices and results; ● changes in the experience, ability and depth of lending management and staff; ● changes in the quality of the loan review system and the degree of oversight by the Board of Directors; ● changes in the trend of the volume and severity of past due and classified loans, including trends in the volume of non-accrual loans, TDRs and other loan modifications; ● the e xistence and effect of any concentrations of credit and changes in the level of such concentrations; ● the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the current loan portf olio; and ● analysis of customers ’ credit quality, including knowledge of their operating environment and financial condition. Management evaluates the credit quality of the loan portfolio on an ongoing basis, and performs a formal review of the adequacy of the ALLL on a quarterly basis. This evaluation is inherently subjective, as it requires material estimates that may may ’s operating results or financial condition. While management uses the best information available to make its evaluations, future adjustments to the ALLL may may The following tables present, by loan category, the activity in the ALLL and the allocation of the ALLL and related loan balance disaggregated based on impairment methodology at December 31, 2019 2018 Allowance for Loan and Lease Losses by Loan Category December 31, 2019 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2019 $ 1,175 $ 3,107 $ 188 $ 2,552 $ 2,051 $ 417 $ 29 $ 9,519 Charge-offs (27 ) - (18 ) (1,258 ) (1,311 ) - - (2,614 ) Recoveries 9 32 82 364 761 - - 1,248 Provisions (credits) (10 ) 59 19 339 157 (164 ) 397 797 Ending balance, December 31, 2019 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Specific reserve $ 9 $ 221 $ - $ 242 $ 1 $ - $ - $ 473 General reserve $ 1,138 $ 2,977 $ 271 $ 1,755 $ 1,657 $ 253 $ 426 $ 8,477 Loans receivable: Individually evaluated for impairment $ 2,711 $ 11,640 $ 76 $ 1,164 $ 195 $ - $ - $ 15,786 Collectively evaluated for impairment 168,012 266,739 47,408 146,459 138,044 43,908 - 810,570 Total loans, gross at December 31, 2019 $ 170,723 $ 278,379 $ 47,484 $ 147,623 $ 138,239 $ 43,908 $ - $ 826,356 Allowance for Loan and Lease Losses by Loan Category December 31, 2018 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2018 $ 1,236 $ 3,499 $ 209 $ 2,340 $ 1,395 $ 355 $ - $ 9,034 Charge-offs (63 ) (1,845 ) - (97 ) (1,134 ) - - (3,139 ) Recoveries 135 42 30 291 576 - - 1,074 Provisions (credits) (133 ) 1,411 (51 ) 18 1,214 62 29 2,550 Ending balance, December 31, 2018 $ 1,175 $ 3,107 $ 188 $ 2,552 $ 2,051 $ 417 $ 29 $ 9,519 Specific reserve $ 14 $ 41 $ - $ 600 $ 2 $ - $ - $ 657 General reserve $ 1,161 $ 3,066 $ 188 $ 1,952 $ 2,049 $ 417 $ 29 $ 8,862 Loans receivable: Individually evaluated for impairment $ 1,847 $ 9,408 $ 82 $ 697 $ 383 $ - $ - $ 12,417 Collectively evaluated for impairment 162,986 253,370 20,731 150,265 176,401 59,037 - 822,790 Total loans, gross at December 31, 2018 $ 164,833 $ 262,778 $ 20,813 $ 150,962 $ 176,784 $ 59,037 $ - $ 835,207 Credit Quality Indicators – Commercial Loans Management continuously monitors and evaluates the credit quality of FNCB ’s commercial loans by regularly reviewing certain credit quality indicators. Management utilizes credit risk ratings as the key credit quality indicator for evaluating the credit quality of FNCB’s loan receivables. FNCB ’s commercial loan classification and credit grading processes are part of the lending, underwriting, and credit administration functions to ensure an ongoing assessment of credit quality. FNCB maintains a formal, written loan classification and credit grading system that includes a discussion of the factors used to assign appropriate classifications of credit grades to loans. The risk grade groupings provide a mechanism to identify risk within the loan portfolio and provide management and the board of directors with periodic reports by risk category. The process also identifies groups of loans that warrant the special attention of management. Accurate and timely loan classification and credit grading is a critical component of loan portfolio management. Loan officers are required to review their loan portfolio risk ratings regularly for accuracy. In addition, the credit risk ratings play an important role in the loan review function, as well as the establishment and evaluation of the provision for loan and lease losses and the ALLL. The loan review function uses the same risk rating system in the loan review process. Quarterly, FNCB engages an independent third ’s and management’s assessment. FNCB ’s loan rating system assigns a degree of risk to commercial loans based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. Management analyzes these non-homogeneous loans individually by grading the loans as to credit risk and probability of collection for each type of loan. Commercial and industrial loans include commercial indirect auto loans which are not not 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. This analysis is performed on a quarterly basis using the following definitions for risk ratings: Pass – Assets rated 1 5 no not Special Mention – Assets classified as special mention do not not Substandard – Assets classified as substandard have well defined weaknesses based on objective evidence, and are characterized by the distinct possibility that FNCB will sustain some loss if the deficiencies are not Doubtful – Assets classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that such weaknesses make collection or liquidation in full highly questionable and improbable based on current circumstances. Loss – Assets classified as loss are those considered uncollectible and of such little value that their continuance as assets is not Credit Quality Indicators – Other Loans Certain residential real estate loans, consumer loans, and commercial indirect auto loans are monitored on a pool basis due to their homogeneous nature. Loans that are delinquent 90 The following tables present the recorded investment in loans receivable by loan category and credit qualit y indicator at December 31, 2019 2018: Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 32,219 $ 177 $ 307 $ - $ - $ 32,703 $ 136,709 $ 1,311 $ 138,020 $ 170,723 Commercial real estate 266,112 1,668 10,599 - - 278,379 - - - 278,379 Construction, land acquisition and development 46,361 - - - - 46,361 1,123 - 1,123 47,484 Commercial and industrial 140,589 426 1,484 - - 142,499 5,124 - 5,124 147,623 Consumer 3,111 - - - - 3,111 134,457 671 135,128 138,239 State and political subdivisions 43,908 - - - - 43,908 - - - 43,908 Total $ 532,300 $ 2,271 $ 12,390 $ - $ - $ 546,960 $ 277,413 $ 1,982 $ 279,395 $ 826,356 Credit Quality Indicators December 31, 2018 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 33,573 $ 291 $ 154 $ - $ - $ 34,018 $ 130,132 $ 683 $ 130,815 $ 164,833 Commercial real estate 250,674 1,858 10,246 - - 262,778 - - - 262,778 Construction, land acquisition and development 17,704 - 757 - - 18,461 2,352 - 2,352 20,813 Commercial and industrial 137,888 4,193 2,448 - - 144,529 6,421 12 6,433 150,962 Consumer 2,024 - - - - 2,024 174,373 387 174,760 176,784 State and political subdivisions 57,345 1,665 27 - - 59,037 - - - 59,037 Total $ 499,208 $ 8,007 $ 13,632 $ - $ - $ 520,847 $ 313,278 $ 1,082 $ 314,360 $ 835,207 Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers. The recorded investment in these non-accrual loans was $9.1 million December 31, 2019 $4.7 December 31, 2018 90 six no may may 90 no 90 December 31, 2019 2018. The following tables present the delinquency status of past due and non-accrual loans at December 31, 2019 2018: December 31, 2019 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 168,754 $ 134 $ 261 $ - $ 169,149 Commercial real estate 272,561 75 106 - 272,742 Construction, land acquisition and development 47,484 - - - 47,484 Commercial and industrial 146,221 200 - - 146,421 Consumer 135,384 1,695 489 - 137,568 State and political subdivisions 43,908 - - - 43,908 Total performing (accruing) loans 814,312 2,104 856 - 817,272 Non-accrual loans: Residential real estate 873 17 228 456 1,574 Commercial real estate 2,520 893 434 1,790 5,637 Construction, land acquisition and development - - - - - Commercial and industrial 943 - 114 145 1,202 Consumer 193 93 38 347 671 State and political subdivisions - - - - - Total non-accrual loans 4,529 1,003 814 2,738 9,084 Total loans receivable $ 818,841 $ 3,107 $ 1,670 $ 2,738 $ 826,356 December 31, 2018 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 163,690 $ 319 $ 136 $ - $ 164,145 Commercial real estate 259,904 - - - 259,904 Construction, land acquisition and development 20,813 - - - 20,813 Commercial and industrial 150,108 87 20 - 150,215 Consumer 173,890 2,221 286 - 176,397 State and political subdivisions 59,037 - - - 59,037 Total performing (accruing) loans 827,442 2,627 442 - 830,511 Non-accrual loans: Residential real estate 443 - 136 109 688 Commercial real estate 1,061 - - 1,813 2,874 Construction, land acquisition and development - - - - - Commercial and industrial 677 50 - 20 747 Consumer 91 61 74 161 387 State and political subdivisions - - - - - Total non-accrual loans 2,272 111 210 2,103 4,696 Total loans receivable $ 829,714 $ 2,738 $ 652 $ 2,103 $ 835,207 The following tables present a distribution of the recorded investment, unpaid principal balance and the related allowance for FNCB’s impaired loans, which have been analyzed for impairment under ASC 310, December 31, 2019 2018. $100 not not 450. $100 450 $1.0 $0.7 December 31, 2019 2018, respectively. December 31, 2019 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 1,217 $ 1,303 $ - Commercial real estate 4,548 6,007 - Construction, land acquisition and development 76 76 - Commercial and industrial 593 850 - Consumer 23 26 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 6,457 8,262 - With a related allowance recorded: Residential real estate 1,494 1,494 9 Commercial real estate 7,092 7,811 221 Construction, land acquisition and development - - - Commercial and industrial 571 573 242 Consumer 172 172 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,329 10,050 473 Total of impaired loans: Residential real estate 2,711 2,797 9 Commercial real estate 11,640 13,818 221 Construction, land acquisition and development 76 76 - Commercial and industrial 1,164 1,423 242 Consumer 195 198 1 State and political subdivisions - - - Total impaired loans $ 15,786 $ 18,312 $ 473 December 31, 2018 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 313 $ 375 $ - Commercial real estate 7,149 8,795 - Construction, land acquisition and development 82 82 - Commercial and industrial - - - Consumer 26 28 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 7,570 9,280 - With a related allowance recorded: Residential real estate 1,534 1,534 14 Commercial real estate 2,259 2,259 41 Construction, land acquisition and development - - - Commercial and industrial 697 697 600 Consumer 357 357 2 State and political subdivisions - - - Total impaired loans with a related allowance recorded 4,847 4,847 657 Total of impaired loans: Residential real estate 1,847 1,909 14 Commercial real estate 9,408 11,054 41 Construction, land acquisition and development 82 82 - Commercial and industrial 697 697 600 Consumer 383 385 2 State and political subdivisions - - - Total impaired loans $ 12,417 $ 14,127 $ 657 The following table presents the average balance of, and interest income recognized on, impaired loans summarized by loan category for the years ended December 31, 2019 2018 Year Ended December 31, 2019 2018 Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Residential real estate $ 2,157 $ 84 $ 1,827 $ 83 Commercial real estate 10,092 297 8,580 311 Construction, land acquisition and development 79 5 83 5 Commercial and industrial 1,207 1 759 1 Consumer 243 11 388 17 State and political subdivisions - - - - Total impaired loans $ 13,778 $ 398 $ 11,637 $ 417 ( 1 The additional interest income that would have been earned on non-accrual and restructured loans had these loans performed in accordance with their original terms approximated $0.4 $0.2 December 31, 2019 and 2018, respectively. Troubled Debt Restructured Loans TDRs at December 31, 2019 and 2018 $9.1 $9.2 $7.7 $1.4 , December 31, 2019 $8.5 $0.7 December 31, 2018. $97 $651 December 31, 2019 2018, not December 31, 2019 2018. The modification of the terms of loans classified as TDRs may one There were no December 31, 2018. December 31, 2019 : Year Ended December 31, 2019 Pre-Modification Outstanding Recorded Investment by Type of Modification (in thousands) Number of Contracts Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Post-Modification Outstanding Recorded Investment Loan category: Residential real estate 4 $ 24 $ - $ 42 $ 208 $ 274 $ 289 Commercial real estate 2 432 178 - - 610 644 Construction, land acquisition and development - - - - - - - Commercial and industrial 4 933 - - - 933 932 Consumer - - - - - - - State and political subdivisions - - - - - - - Total modifications 10 $ 1,389 $ 178 $ 42 $ 208 $ 1,817 $ 1,865 There were no 12 December 31, 2019 2018. Residential Real Estate Loan Foreclosures There was one $154 December 31, 2019. two $256 December 31, 2019. One 2019. $204 December 31, 2019. There were two in the process of foreclosure at December 31, 2018. There was no one no December 31, 2018, and there was one residential real estate property with a carrying value of $45 |
Note 6 - Bank Premises and Equi
Note 6 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6. The following table summarizes bank premises and equipment at December 31, 2019 and 2018: December 31, (in thousands) 2019 2018 Land $ 3,537 $ 3,383 Buildings and improvements 12,798 10,865 Furniture, fixtures and equipment 11,551 10,178 Leasehold improvements 3,578 3,601 Total 31,464 28,027 Accumulated depreciation (13,946 ) (13,602 ) Net $ 17,518 $ 14,425 Depreciation and amortization expense of premises and equipment amounted to $ 1.4 December 31, 2019 and 2018 On September 27, 2018, 360 $550 not six December 14, 2018 second 2019. On November 5, 2018, 102 100 second 2019, $2.0 |
Note 7 - Deposits
Note 7 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 7. The following table summarizes deposits by major category at December 31, 2019 2018: December 31, (in thousands) 2019 2018 Demand (non-interest bearing) $ 179,465 $ 156,600 Interest-bearing: Interest-bearing demand 534,677 557,803 Savings 94,530 92,078 Time ($250,000 and over) 48,425 56,659 Other time 144,612 232,489 Total interest-bearing 822,244 939,029 Total deposits $ 1,001,709 $ 1,095,629 The aggregate amount of deposits reclassified as loans was $62 thousand at December 31, 2019 $36 December 31, 2018. 2019 2018, no The following table summarizes scheduled maturities of time deposits, including certificates of deposit and individual retirement accounts, at December 31, 2019 : $250,000 Other (in thousands) and Over Time Deposits Total 2020 41,009 93,903 134,912 2021 6,126 38,823 44,949 2022 1,290 5,547 6,837 2023 - 2,687 2,687 2024 3,652 3,652 2025 and thereafter - - - Total $ 48,425 $ 144,612 $ 193,037 Investment securities with a carrying value of $235.0 million and $286.4 December 31, 2019 2018, $60.0 $47.5 December 31, 2019 2018, |
Note 8 - Borrowed Funds
Note 8 - Borrowed Funds | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8. Short-term borrowings available to FNCB include overnight FHLB of Pittsburgh advances, federal funds lines of credit 30 ’s maximum borrowing capacity under federal funds lines of credit and the Federal Reserve Discount Window was $40.0 $11.4 December 31, 2019. $22.9 December 31, 2019. FNCB has an agreement with the FHLB of Pittsburgh which allows for borrowings, either overnight or term, up to a maximum borrowing capacity based on a percentage of qualifying loans pledged under a blanket pledge agreement. Loans of $475.3 million and $492.3 December 31, 2019 2018, $333.3 December 31, 2019, $32.8 nine two $14.1 $60.0 outstanding As of and for the Year Ended December 31, 2019 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ 14,100 $ 14,971 $ 59,825 2.58 % 1.80 % FHLB of Pittsburgh advances - term 32,809 37,831 65,171 2.26 % 1.86 % Federal funds - 8 - - - Federal reserve discount window advances - - - - - Subordinated debentures - 520 5,000 4.50 % - % Junior subordinated debentures 10,310 10,310 10,310 4.17 % 3.56 % As of and for the Year Ended December 31, 2018 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ 6,600 $ 45,066 $ 103,250 2.05 % 2.65 % FHLB of Pittsburgh advances - term 12,330 59,197 101,661 1.86 % 1.77 % Federal funds - - - - - Federal reserve discount window advances - - - - - Subordinated debentures 5,000 5,000 5,000 4.50 % 4.50 % Junior subordinated debentures 10,310 10,310 10,310 3.88 % 4.46 % On December 14, 2006, $10.0 7.02%, December 15, 2036. 100.0% Issuing Trust. The proceeds from the issue were invested in $10.3 7.02% 1.67% 3 4.17 2019 3.88 2018 twenty December 15, 2011. $10.3 December 31, 2019 2018 December 31, 2019 2018. December 31, 2019 2018, $16 $19 On September 1, 2009, $25.0 September 1, 2019 ( July 1, 2015, 9% first third June 30, 2015, 9.00% 4.50% July 1, 2015 June 30, 2015, 44% $11.0 June 30, 2015, $14.0 16% $4.0 September 1, 2017; ( 20% $5.0 September 1, 2018; 20% $5.0 September 1, 2019, October 28, 2016, $4.0 $4.0 September 1, 2017, December 1, 2016. On July 27, 2017, $5.0 $5.0 September 1, 2018, September 1, 2017. $5.0 December 31, 2018. $19 December 31, 2018 31, 2018, 30, 2019, $5.0 $5.0 1, 2019, 1, 2018 7, 2019, 8, 2019. The following table presents maturities of borrowed funds and the weighted-average rate by contractual maturity date at December 31, 2019: December 31, 2019 Weighted Average (in thousands) Amount Interest Rate 2020 $ 21,387 1.73 % 2021 25,522 1.93 % 2022 - - 2023 - - 2024 - - 2025 and thereafter 10,310 3.56 % Total $ 57,219 2.15 % |
Note 9 - Benefit Plans
Note 9 - Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 9. The Bank has a defined contribution profit sharing plan (“Profit Sharing Plan”) which includes the provision under section 401 “401 ’s contribution to the plan is determined at management’s discretion at the end of each year and funded. The 401 may no 2019 2018 401 $305 2019 $298 2018. The Bank has an unfunded non-qualified deferred compensation plan covering all eligible Bank officers and directors as defined by the plan. This plan permits eligible participants to elect to defer a portion of their compensation. Elective deferred compensation and accrued earnings, included in other liabilities in the accompanying consolidated statements of financial condition, aggregated $2.0 December 31, 2019 and $3.2 December 31, 2018. The Bank has a Supplemental Executive Retirement Plan (“SERP”) for a select group of management or highly compensated employees within the meaning of Sections 201 2 301 3 401 1 1974. $173 2019 $108 2018 $6 57 December 31, 2019 $557 December 31, 2018. |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 10. The following table summarizes the current and deferred amounts of the provision for income tax expense (benefit) for each of the two December 31, 2019 2018 For the Year Ended December 31, (in thousands) 2019 2018 Current $ - $ (2,764 ) Deferred 2,326 5,835 Income tax expense $ 2,326 $ 3,071 The following table presents a reconciliation between the effective income tax expense and the income tax expense that would have been provided at the federal statutory tax rate of 21.0% December 31, 2019 December 31, 2018 For the Year Ended December 31, (in thousands) 2019 2018 Provision at statutory tax rates $ 2,814 $ 3,448 Add (deduct): Tax effects of non-taxable income (344 ) (378 ) Non-deductible interest expense 19 15 Bank-owned life insurance (109 ) (117 ) Other items, net (54 ) 103 Income tax expense $ 2,326 $ 3,071 The following table summarizes the components of the net deferred tax asset at December 31, 2019 and 2018: December 31, (in thousands) 2019 2018 Allowance for loan and lease losses $ 2,027 $ 2,052 Deferred compensation 592 817 Unrealized holding losses on securities available-for-sale - 1,207 Lease liability 729 - Other real estate owned valuation 33 125 Deferred intangible assets 166 300 Employee benefits 192 102 Accrued rent expense - 72 Accrued vacation 42 36 Deferred income - 51 Depreciation 10 51 Net operating loss carryover 4,348 6,291 Gross deferred tax assets 8,139 11,104 Deferred loan origination costs (143 ) (192 ) Unrealized holding gains on securities available-for-sale (812 ) - Right of use asset (660 ) - Deferred income (22 ) - Accrued interest (224 ) (219 ) Gross deferred tax liabilities (1,861 ) (411 ) Net deferred tax assets $ 6,278 $ 10,693 At December 31, 2019 $20.7 2035 not $4.3 31, 2019. Management evaluates the carrying amount of its deferred tax assets on a quarterly basis, or more frequently if necessary, in accordance with guidance set forth in ASC Topic 740 not not In evaluating available evidence, management considers, among other factors, historical financial performance, expectation of future earnings, the ability to carry back losses to recoup taxes previously paid, length of statutory carry forward periods, experience with operating loss and tax credit carry forwards not not not December 31, 2019, |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 11. In conducting its business, FNCB has engaged in, and intends to continue to engage in, banking and financial transactions with directors, executive officers and their related parties. FNCB has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans, advances under lines of credit, net of any participations sold, as well as repayments during the years ended December 31, 2019 2018: For the Year Ended December 31, (in thousands) 2019 2018 Balance January 1, $ 64,634 $ 55,576 Additions, new loans and advances 93,871 87,015 Repayments (80,609 ) (77,957 ) Balance December 31, $ 77,896 $ 64,634 At December 31, 2019, no not Deposits from directors, executive officers and their related parties held by the Bank at December 31, 2019 and 2018 $84.1 $115.5 $484 2019 $348 thousand in 2018. In the course of its operations, FNCB acquires goods and services from, and transacts business with, various companies of related parties, which include, but are not 2.4 $2.5 2019 2018 On February 8, 2019, $5.0 September 1, 2019, $3.1 no December 31, 2019. $3.1 December 31, 2018. $24 $141 December 31, 2019 2018, $12 December 31, 2018. |
Note 12 - Commitments, Continge
Note 12 - Commitments, Contingencies and Concentrations | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 12. Leases FNCB is obligated under operating leases for certain bank branches, office space, automobiles and equipment. Operating lease right of use ("ROU") assets represent FNCB's right to use an underlying asset during the lease term and operating liabilities represent its obligation to make lease payments under the lease agreement. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents FNCB's incremental borrowings rate at the commencement date. ROU assets are included in other assets and operating lease liabilities are included in other liabilities in the consolidated statements of financial condition. As of December 31, 2019 $3.1 $3.5 The following table summarizes the components of FNCB's operating lease expense for the year ended December 31, 2019. $418 2019. (in thousands) For the Year Ended December 31, 2019 Operating lease cost - bank branches $ 343 Operating lease cost - automobiles and equipment 31 Short-term lease cost - office space 42 Short-term lease cost - automobiles and equipment 2 Variable lease cost - Total lease cost $ 418 The following table summarizes the maturity of remaining operating lease liabilities as of December 31, 2019: (in thousands) December 31, 2019 2020 $ 387 2021 353 2022 331 2023 323 2024 287 2025 and thereafter 2,813 Total lease payments 4,494 Less: imputed interest 1,023 Present value of operating lease liabilities $ 3,471 The following table presents other information related to FNCB's operating leases: (dollars in thousands) December 31, 2019 Weighted-average remaining lease term 14.3 years Weighted-average discount rate 3.45 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 385 The following table presents the minimum future obligations under non-cancelable leases in effect at December 31, 2018: Minimum Future Lease Payments December 31, 2018 (in thousands) Facilities Vehicles & Equipment Total 2019 $ 385 $ 13 $ 398 2021 313 1 314 2022 287 - 287 2023 265 - 265 2024 223 - 223 2025 and thereafter 820 - 820 Total $ 2,293 $ 14 $ 2,307 Total rental expense under leases amounted to $492 2018. Financial Instruments with off-balance sheet commitments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit that involve varying degrees of credit, interest rate or liquidity risk in excess of the amount recognized in the balance sheet. FNCB ’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. Financial instruments whose contract amounts represent credit risk at December 31, 2019 and 2018 December 31, (in thousands) 2019 2018 Commitments to extend credit $ 275,891 $ 181,322 Standby letters of credit 15,081 15,121 In order to provide for probable losses inherent in these instruments, FNCB recorded reserves for unfunded commitments of $703 $255 December 31, 2019 2018, Commitments to extend credit are agreements to lend to customers in accordance with contractual provisions. These commitments usually are for specific periods or contain termination clauses and may not Letters of credit and financial guarantees are agreements whereby FNCB guarantees the performance of a customer to a third may ’s evaluation of the creditworthiness of each customer. The credit exposure assumed in issuing letters of credit is essentially equal to that in other lending activities. Federal Home Loan Bank — Mortgage Partnership Finance (“MPF”) Program Under a secondary market loan servicing program with the FHLB, FNCB, in exchange for a monthly fee, provides a credit enhancement guarantee to the FHLB for foreclosure losses in excess of a defined First Loss Account (“FLA”) balance, up to specified amounts. At December 31, 2019, $21.5 first December 31, 2019, $902 $64 . no December 31, 2019 2018. Concentrations of Credit Risk Cash Concentrations: The Bank maintains cash balances at several correspondent banks. FNCB engages in a primary correspondent banking relationship with Compass Bank. At December 31, 2019 2018, $1.1 $2.7 no $250 December 31, 2019 2018 . Loan Concentrations: FNCB attempts to limit its exposure to concentrations of credit risk by diversifying its loan portfolio and closely monitoring any concentrations of credit risk. The commercial real estate and construction, land acquisition and development portfolios comprise $325.6 million, or 39.4 December 31, 2019. Northeastern Pennsylvania a $24.3 2.9 December 31, 2019. FNCB considers an industry concentration within the loan portfolio to exist if the aggregate loan balance outstanding for that industry exceeds 25.0% ’s loan portfolio by industry at December 31, 2019 2018: December 31, 2019 December 31, 2018 % of % of (in thousands) Amount Gross Loans Amount Gross Loans Retail space/shopping centers $ 43,865 5.31 % $ 48,021 5.75 % 1-4 family residential investment properties 38,122 4.61 % 38,756 4.64 % Physicians 26,739 * 3.24 % 25,379 3.04 % * Not Litigation FNCB has been subject to tax audits, and is also a party to routine litigation involving various aspects of its business, such as employment practice claims, workers compensation claims, claims to enforce liens, condemnation proceedings on properties in which FNCB holds security interests, claims involving the making and servicing of real property loans and other issues incident to its business, none |
Note 13 - Stock Compensation Pl
Note 13 - Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 13. FNCB had an Employee Stock Incentive Plan (the “Stock Incentive Plan”), under which options were granted to key officers and other employees of FNCB. The Stock Incentive Plan expired on August 30, 2010. no 5, 2019, 19,200 December 31, 2019 and 2018 The following table summarizes the changes in the status of FNCB ’s Stock Incentive Plan: For the Years Ended December 31, 2019 2018 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Stock options outstanding at the beginning of the year 19,200 $ 10.81 19,200 $ 10.81 Granted - - - - Exercised - - - - Forfeited (19,200 ) $ 10.81 - - Stock options outstanding at the end of the year - $ - 19,200 $ 10.81 Options exercisable at year end - $ - 19,200 $ 10.81 Weighted average fair value of options granted during the year $ - $ - Stock-based compensation expense $ - $ - At December 31, 2018 no no FNCB has a Long-Term Incentive Compensation Plan (“LTIP”) for directors, executive officers and key employees. The LTIP authorizes up to 1,200,000 granted awards, comprised solely of shares of restricted stock, to executives and certain key employees under the terms of the LTIP of 57,684 2019 57,829 2018. The following table summarizes the activity related to FNCB ’s unvested restricted stock awards during the years ended December 31, 2019 and 2018. For the Years Ended December 31, 2019 2018 Weighted- Weighted- Average Average Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Unvested restricted stock awards at January 1, 114,702 $ 7.50 106,129 $ 6.23 Awards granted 57,684 7.64 57,829 8.54 Forfeitures (6,678 ) 7.61 (2,898 ) 7.25 Vestings (37,558 ) 6.80 (46,358 ) 5.93 Unvested restricted stock awards at December 31, 128,150 $ 7.76 114,702 $ 7.50 For the years ended December 31, 2019 and 2018 255 2019 $279 2018. December 31, 2019 and 2018 $809 $675 3.7 On July 1, 2019, 1,956 ten 19,560 $7.67 $150 December 31, 2019. At December 31, 2019, 869,726 |
Note 14 - Regulatory Matters &
Note 14 - Regulatory Matters & Subsequent Event | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 14. On January 28, 2019, February 8, 2019, 3,285,550 428,550 $7.00 $0.35 $21.3 first 2019, $17.8 FNCB’s ability to pay dividends to its shareholders is largely dependent on the Bank’s ability to pay dividends to FNCB. Bank regulations limit the amount of dividends that may 2019 2018 0.20 $0.17 31, 2019 2018 7,369 17,050 December 31, 2019 2018, December 31, 2019, January 22, 2020, $0.055 March 16, 2020 March 2, 2020 2018, $1 $3 December 31, 2019, Basel III Transitional rules became effective for FNCB Bank on January 1, 2015 January 1, 2019. ● a total capital ratio of 8.00% ● a Tier I risk-based capital ratio of 6.00% 4.00% ● a new common equity Tier I risk-based capital ratio of 4.50%; ● a Tier I capital to average assets (“Tier I leverage ratio”) of 4.00% The Bank is required to maintain a "capital conservation buffer," composed entirely of common equity Tier I capital, in addition to minimum risk-based capital ratios, in order to avoid limitations on capital distributions (including dividend payments and certain discretionary bonus payments to executive officers). The required capital conservation buffer was 2.500 % 2019 1.875% 2018. no January 1, 2015 four 40% January 1, 2015; ii.) 60% January 1, 2016; 20% November 21, 2017, January 1, 2018. Management believes December 31, 2019. Additionally, ● a total risk-based capital ratio of 10.00% ● a Tier I risk-based capital ratio of 8.00% 6.00% ● a new common equity Tier I risk-based capital ratio of 6.50%; ● a Tier I leverage ratio of 5.00%. Current quantitative measures established by regulation to ensure capital adequacy require FNCB Bank to maintain minimum amounts and ratios (set forth in the table below) of Total capital, Tier I capital, and Tier I common equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). The following tables present summary information regarding the Bank’s risk-based capital and related ratios at December 31, 2019 2018: FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2019 Total capital (to risk-weighted assets) $ 133,406 14.77 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 123,753 13.70 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 123,753 13.70 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 123,753 10.36 % 4.00 % 4.000 % 5.00 % Total risk-weighted assets 903,172 Total average assets 1,194,789 FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2018 Total capital (to risk-weighted assets) $ 112,128 12.17 % 8.00 % 9.875 % 10.00 % Tier I capital (to risk-weighted assets) 102,354 11.11 % 6.00 % 7.875 % 8.00 % Tier I common equity (to risk-weighted assets) 102,354 11.11 % 4.50 % 6.375 % 6.50 % Tier I capital (to average assets) 102,354 8.27 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 921,126 Total average assets 1,238,347 |
Note 15 - Fair Value Measuremen
Note 15 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 15. In determining fair value, FNCB uses various valuation approaches, including market, income and cost approaches. Accounting standards establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability, which are developed based on market data obtained from sources independent of FNCB. Unobservable inputs reflect FNCB ’s knowledge about the assumptions the market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 3 A financial asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is broken down into three ● Level 1 valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets; ● Level 2 r instruments traded in markets that are not ● Level 3 ologies including discounted cash flow models and similar techniques that use significant assumptions not A description of the valuation methodologies used for assets recorded at fair value, and for estimating fair value of financial instruments not Available-for-Sale Debt Securities The estimated fair values for FNCB’s investments in obligations of U.S. government agencies, obligations of state and political subdivisions, government-sponsored agency CMOs and mortgage-backed securities, private collateralized mortgage obligations, asset-backed securities and negotiable certificates of deposit are obtained by FNCB from a nationally-recognized pricing service. This pricing service develops estimated fair values by analyzing like securities and applying available market information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing (Level 2 may 2 2 not not 2 For those securities for which the inputs used by an independent pricing service were derived from unobservable market information, FNCB evaluated the appropriateness and quality of each price. Management reviewed the volume and level of activity for all classes of securities and attempted to identify transactions which may not may 3 third At December 31, 2019, six $7.0 $7.2 four six December 31, 2019 not not third 3 5.13 5.63 third Equity Securities The estimated fair values of equity securities are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 Assets Measured at Fair Value on a Recurring Basis The following tables present the financial assets that are measured at fair value on a recurring basis at December 31, 2019 2018, Fair Value Measurements at December 31, 2019 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale debt securities: Obligations of state and political subdivisions $ 117,763 $ - $ 117,763 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 80,294 - 80,294 - Collateralized mortgage obligations - commercial 17,723 - 17,723 - Mortgage-backed securities 18,485 - 18,485 - Private collateralized mortgage obligations 25,075 - 25,075 - Corporate debt securities 7,182 - 2,032 5,150 Asset-backed securities 5,621 - 5,621 - Negotiable certificates of deposit 696 - 696 - Total available-for-sale debt securities $ 272,839 $ - $ 267,689 $ 5,150 Equity Securities $ 920 $ 920 $ - $ - Fair Value Measurements at December 31, 2018 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale debt securities: Obligations of state and political subdivisions $ 152,187 $ - $ 152,187 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 34,207 - 34,207 - Collateralized mortgage obligations - commercial 73,640 - 73,640 - Mortgage-backed securities 23,934 - 23,934 - Private collateralized mortgage obligations 2,913 - 2,913 - Corporate debt securities 4,936 - 1,007 3,929 Asset-backed securities 1,802 - 1,802 - Negotiable certificates of deposit 2,413 - 2,413 - Total available-for-sale debt securities $ 296,032 $ - $ 292,103 $ 3,929 Equity Securities $ 891 $ 891 $ - $ - There were no December 31, 2019 and 2018. The following table presents a reconciliation and statement of operations classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3 December 31, 2019 2018. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities For the Year Ended December 31, (in thousands) 2019 2018 Balance at January 1, $ 3,929 $ 4,058 Additions 1,000 - Payments received - - Sales - - Total gains or losses (realized/unrealized): Included in earnings - - Included in other comprehensive income 221 (129 ) Balance at December 31, $ 5,150 $ 3,929 Assets Measured at Fair Value on a Non-Recurring Basis The following tables present assets and liabilities measured at fair value on a non-recurring basis at December 31, 2019 and 2018, 3 December 31, 2019 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 7,721 $ 376 $ 7,345 Appraisal of collateral Selling costs 10.0% Impaired loans - other 8,065 97 7,968 Discounted cash flows Discount rate 3.99% - 7.49 % Other real estate owned 289 - 289 Appraisal of collateral Selling costs 10.0% December 31, 2018 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 8,020 $ 606 $ 7,414 Appraisal of collateral Selling costs 10.0% Impaired loans - other 4,397 51 4,346 Discounted cash flows Discount rate 3.70% - 7.50% Other real estate owned 919 - 919 Appraisal of collateral Selling costs 10.0% The fair value of collateral-dependent impaired loans is determined through independent appraisals or other reasonable offers, which generally include various Level 3 not may not OREO properties are recorded at fair value less the estimated cost to sell at the date of FNCB ’s acquisition of the property. Subsequent to acquisition of the property, the balance may may The following table summarizes the estimated fair values of FNCB ’s financial instruments at December 31, 2019 2018. not not not may Fair Value December 31, 2019 December 31, 2018 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 34,565 $ 34,565 $ 36,481 $ 36,481 Available-for-sale debt securities See previous table 272,839 272,839 296,032 296,032 Equity securities Level 1 920 920 891 891 Restricted stock Level 2 3,804 3,804 3,123 3,123 Loans held for sale Level 2 1,061 1,061 820 820 Loans, net Level 3 819,529 810,074 829,581 816,234 Accrued interest receivable Level 2 3,234 3,234 3,614 3,614 Equity securities without readily determinable fair values Level 3 1,658 1,658 1,658 1,658 Servicing rights Level 3 356 790 350 878 Financial liabilities Deposits Level 2 1,001,709 1,001,829 1,095,629 1,093,797 Borrowed funds Level 2 57,219 57,234 34,240 34,108 Accrued interest payable Level 2 258 258 338 338 |
Note 16 - Earnings Per Share
Note 16 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 16. For FNCB, the numerator of both the basic and diluted earnings per share of common stock is net income available to common shareholders. The weighted average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common share equivalents utilizing the treasury stock method. Common share equivalents are outstanding stock options to purchase FNCB’s shares of common stock and unvested restricted stock. The following table presents the calculation of both basic and diluted earnings per share of common stock for the years ended December 31, 2019 and 2018 For the Year Ended December 31, (in thousands, except share data) 2019 2018 Net income $ 11,075 $ 13,349 Basic weighted-average number of common stock outstanding 19,802,095 16,799,004 Plus: common share equivalents 5,497 21,749 Diluted weighted-average number of common stock outstanding 19,807,592 16,820,753 Income per share of common stock: Basic $ 0.56 $ 0.79 Diluted $ 0.56 $ 0.79 For each of the years ended December 31, 2019 2018 December 31, 2018, 19,200 5, 2019, |
Note 17 - Other Comprehensive I
Note 17 - Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 17. The following tables summarize the reclassifications out of accumulated other comprehensive (loss) income for the years ended December 31, 2019 and 2018. For the year Ended December 31, 2019 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (1,227 ) Net gain (loss) on the sale of available-for-sale securities Taxes 258 Income taxes Net of tax amount $ (969 ) For the year Ended December 31, 2018 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net losses reclassified into net income $ 4 Net gain (loss) on the sale of available-for-sale securities Taxes (1 ) Income taxes Net of tax amount $ 3 The following table summarizes the changes in accumulated other comprehensive (loss) income, net of tax, for the years ended December 31, 2019 2018 For the Year Ended December 31, (in thousands) 2019 2018 Balance, January 1, $ (4,540 ) $ (1,745 ) Other comprehensive income (loss) before reclassifications 8,565 (2,863 ) Amounts reclassified from accumulated other comprehensive income (loss) (969 ) 3 Net other comprehensive income (loss) during the period 7,596 (2,860 ) Reclassification of net loss on equity securities upon adoption of ASU 2016-01 - 65 Balance, December 31, $ 3,056 $ (4,540 ) |
Note 18 - Condensed Financial I
Note 18 - Condensed Financial Information - Parent Company Only | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 18. — PARENT COMPANY ONLY The following tables present condensed parent company only financial information: Condensed Statements of Financial Condition December 31, (in thousands) 2019 2018 Assets: Cash $ 10,343 $ 5,976 Investment in statutory trust 418 405 Investment in subsidiary (equity method) 131,194 104,134 Other assets 2,019 2,081 Total assets $ 143,974 $ 112,596 Liabilities and Shareholders’ Equity: Subordinated debentures $ - $ 5,000 Junior subordinated debentures 10,310 10,310 Accrued interest payable 16 38 Other liabilities 41 29 Total liabilities 10,367 15,377 Shareholders’ equity 133,607 97,219 Total liabilities and shareholders’ equity $ 143,974 $ 112,596 Condensed Statements of Income For the Year Ended December 31, (in thousands) 2019 2018 Income: Dividends from subsidiaries $ 10,000 $ 12,180 Interest on interest-bearing deposits in other banks 77 3 Income from trust 13 12 Total income 10,090 12,195 Expense: Interest on subordinated notes 24 228 Interest on junior subordinated debt 430 400 Other operating expenses 275 353 Other losses - 32 Total expenses 729 1,013 Income before income taxes 9,361 11,182 Provision for income taxes - - Income before equity in undistributed net income of subsidiary 9,361 11,182 Equity in undistributed net income of subsidiary 1,714 2,167 Net income $ 11,075 $ 13,349 Condensed Statements of Cash Flows For the Year Ended December 31, (in thousands) 2019 2018 Cash flows from operating activities: Net income $ 11,075 $ 13,349 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiary (1,714 ) (2,167 ) Equity in trust (13 ) (12 ) (Decrease) increase in accrued interest payable (22 ) 3 Decrease in other assets 467 65 Decrease in director indemnification liability - (2,553 ) Increase (decrease) in other liabilities 12 (30 ) Net cash provided by operating activities 9,805 8,655 Cash flows from investing activities: Investment in Subsidiary (17,750 ) - Net cash used in investing activities (17,750 ) - Cash flows from financing activities: Principal reduction on subordinated debentures (5,000 ) - Proceeds from issuance of common shares 21,342 117 Cash dividends paid (4,030 ) (2,857 ) Net cash provided by (used in) financing activities 12,312 (2,740 ) Net increase in cash 4,367 5,915 Cash at beginning of year 5,976 61 Cash at end of year $ 10,343 $ 5,976 |
Note 19 - Selected Quarterly Fi
Note 19 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 19. 2019 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 11,609 $ 11,462 $ 11,506 $ 11,479 Interest expense 2,663 2,508 2,455 2,170 Net interest income 8,946 8,954 9,051 9,309 (Credit) provision for loan and lease losses (154 ) 347 637 (33 ) Net interest income after (credit) provision for loan and lease losses 9,100 8,607 8,414 9,342 Non-interest income 1,515 1,578 1,831 2,696 Non-interest expense 7,425 7,122 7,329 7,806 Income before income taxes 3,190 3,063 2,916 4,232 Income tax expense 555 514 513 744 Net income $ 2,635 $ 2,549 $ 2,403 $ 3,488 Earnings per share: Basic $ 0.14 $ 0.13 $ 0.12 $ 0.17 Diluted $ 0.14 $ 0.13 $ 0.12 $ 0.17 2018 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 10,440 $ 11,234 $ 11,693 $ 11,718 Interest expense 1,562 1,997 2,438 2,581 Net interest income 8,878 9,237 9,255 9,137 Provision (credit) for loan and lease losses 720 880 1,149 (199 ) Net interest income after provision (credit) for loan and lease losses 8,158 8,357 8,106 9,336 Non-interest income 1,519 1,529 1,320 7,422 Non-interest expense 7,232 6,966 7,188 7,941 Income before income taxes 2,445 2,920 2,238 8,817 Income tax expense 426 508 388 1,749 Net income $ 2,019 $ 2,412 $ 1,850 $ 7,068 Earnings per share: Basic $ 0.12 $ 0.14 $ 0.11 $ 0.42 Diluted $ 0.12 $ 0.14 $ 0.11 $ 0.42 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements of FNCB are comprised of the accounts of FNCB Bancorp, Inc., and its wholly-owned subsidiary, FNCB Bank, as well as the Bank’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”), Regulation S- X not The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to change in the near term are the allowance for loan and lease losses (“ALLL”), securities’ valuation and impairment evaluation, the valuation of other real estate owned (“OREO”), and income taxes. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents For purposes of reporting cash flows, cash equivalents include cash on hand and amounts due from banks. |
Marketable Securities, Policy [Policy Text Block] | Securities Debt Securities FNCB classifies its investments in debt securities as either held-to-maturity or available-for-sale at the time of purchase. Debt securities that are classified as held-to-maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities that are classified as available-for-sale are carried at fair value with unrealized holding gains and losses recognized as a component of shareholders’ equity in accumulated other comprehensive income (loss), net of tax. Amortization of premiums and accretion of discounts is recognized over the life of the related security as an adjustment to yield using the interest method. Realized gains and losses on sales of debt securities are based on amortized cost using the specific identification method on the trade date. All of FNCB's debt securities were classified as available-for-sale at December 31, 2019 2018. Equity Securities with Readily Determinable Fair Value FNCB's equity securities consist entirely of a mutual fund investment comprised of 1 4 Fair values for debt securities and equity securities with readily determinable fair values are based upon quoted market prices, where available. If quoted market prices are not Restricted Securities Investments in restricted securities have limited marketability, are carried at cost and are evaluated for impairment based on FNCB’s determination of the ultimate recoverability of the par value of the stock. FNCB’s investment in restricted securities, comprised of stock in the Federal Home Loan Bank of Pittsburgh and Atlantic Community Bankers Bank. Equity Securities without Readily Determinable Fair Value Equity securities without readily determinable fair values consist entirely of FNCB's investment in the common stock of a privately-held bank holding company. Equity securities without readily determinable fair values are carried at cost and included in other assets in the consolidated statements of financial condition. On a quarterly basis, management performs a qualitative assessment to determine if the investment is impaired. If the qualitative assessment indicates impairment, the investment is written down to its fair value, with the charge for impairment included in net income. Evaluation for Other Thank Temporary Impairment On a quarterly basis, management evaluates all securities in an unrealized loss position for other than temporary impairment (“OTTI”). An individual security is considered impaired when its current fair value is less than its amortized cost basis. As part of its evaluation, management considers the following factors, among other things, in determining whether the security’s impairment is other than temporary: ● the length of time and extent of the impairment; ● the causes of the decline in fair value, such as credit deterioration, interest rate fluctuations, or market volatility; ● adverse industry or geographic conditions; ● historical implied volatility; ● payment structure of the security and whether FNCB expects to receive all contractual cash flows; ● failure of the issuer to make contractual interest or principal payments in the past; and ● changes in the security’s rating. Based on current authoritative guidance, when a held-to-maturity or available-for-sale security is assessed for first not one not two not |
Financing Receivable [Policy Text Block] | Loans and Loan Origination Fees and Costs Loans 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 balance, net of unamortized deferred loan fees and costs, any unearned income and partial charge-offs. Loans receivable are presented net of the allowance for loan and lease losses in the consolidated statements of financial condition. Interest income on all loans is recognized using the effective interest method. Nonrefundable loan origination fees, as well as certain direct loan origination costs, are deferred and the net amount amortized over the contractual life of the related loan as an adjustment to yield using the effective interest method. Amortization of deferred loan fees or costs is discontinued when a loan is placed on non-accrual status. Loans are placed on non-accrual status when a loan is specifically determined to be impaired or when management believes that the collection of interest or principal is doubtful. This generally occurs when a default of interest or principal has existed for 90 90 first six no In accordance with federal regulations, prior to making, extending, renewing or advancing additional funds in excess of $ 400 third may |
Troubled Debt Restructuring [Policy Text Block] | Troubled Debt Restructurings FNCB considers a loan to be a troubled debt restructuring (“TDR”) when it grants a concession to the borrower for legal or economic reasons related to the borrower’s financial difficulties that it would not six |
Impaired Financing Receivable, Policy [Policy Text Block] | Loan Impairment A loan is considered impaired when it is probable that FNCB will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the note and loan agreement. For purposes of the analysis, all TDRs, loan relationships with an aggregate outstanding balance greater than $100 not may Generally, all loans with balances of $100 not $100 Impaired loans, or portions thereof, are charged-off upon determination that all or a portion of the loan balance is uncollectible and exceeds the fair value of the collateral. A loan is considered uncollectible when the borrower is delinquent with respect to principal or interest repayment and it is unlikely that the borrower will have the ability to pay the debt in a timely manner, collateral value is insufficient to cover the outstanding indebtedness and the guarantors (if applicable) do not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan and Lease Losses Management evaluates the credit quality of FNCB’s loan portfolio on an ongoing basis and performs a formal review of the adequacy of the ALLL on a quarterly basis. The ALLL is established through a provision for loan losses charged to earnings and is maintained at a level that management considers adequate to absorb estimated probable losses inherent in the loan portfolio as of the evaluation date. Loans, or portions of loans, determined by management to be uncollectible are charged off against the ALLL, while recoveries of amounts previously charged off are credited to the ALLL. Determining the amount of the ALLL is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, qualitative factors, and consideration of current economic trends and conditions, all of which may may FNCB's allowance methodology consists primarily of two $100 may unallocated component may not When establishing the ALLL, management categorizes loans into the following loan segments that are based generally on the nature of the collateral and basis of repayment. The risk characteristics of FNCB’s loan segments are as follows: Construction, Land Acquisition and Development Loans one four not 65%. 85% Commercial Real Estate Loans not not 25 85%. Commercial and Industrial Loans - may State and Political Subdivision Loans Residential Real Estate Loans 1 4 first 80% 80% may Consumer Loans 90% 15 |
Liability for Off-balance-sheet Credit Related Financial Instruments, Policy [Policy Text Block] | Off-Balance-Sheet Credit-Related Financial Instruments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments include commitments to extend credit, unused portions of lines of credit, including revolving HELOCs, and letters of credit. FNCB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument is represented by the contractual notional amount of these instruments. FNCB uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In order to provide for probable losses inherent in these instruments, FNCB records a reserve for unfunded commitments, included in other liabilities on the consolidated statements of financial condition, with the offsetting expense recorded in other operating expenses in the consolidated statements of income. |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities, Loan Sales and Servicing Mortgage loans originated and held for sale are carried at the lower of aggregate cost or fair value determined on an individual loan basis. Net unrealized losses are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold and include the value assigned to the rights to service the loan. FNCB may Servicing rights are recorded at fair value upon sale of the loan and reported in other assets on the consolidated statements of financial condition. Servicing rights are amortized in proportion to and over the period during which estimated servicing income will be received. Fair value is based on market prices for comparable servicing contracts, when available, or alternately, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing rights are evaluated for impairment at each reporting date based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranche. If management later determines that all or a portion of the impairment no may |
Other Real Estate Owned, Policy [Policy Text Block] | Other Real Estate Owned OREO consists of property acquired by foreclosure, abandonment or conveyance of deed in-lieu of foreclosure of a loan, and bank premises that are no no may |
Property, Plant and Equipment, Policy [Policy Text Block] | Bank Premises and Equipment Land is stated at cost. Bank premises, equipment and leasehold improvements are stated at cost less accumulated depreciation. Costs for routine maintenance and repairs are expensed as incurred, while significant expenditures for improvements are capitalized. Depreciation expense is computed generally using the straight-line method over the following ranges of estimated useful lives, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Buildings and improvements (years) 5 to 40 Furniture, fixtures and equipment (years) 3 to 20 Leasehold improvements (years) 3 to 35 |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-lived Assets Intangible assets and bank premises and equipment are reviewed by management at least annually for potential impairment and whenever events or circumstances indicate that carrying amounts may not |
Income Tax, Policy [Policy Text Block] | Income Taxes FNCB recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than- not not FNCB files a consolidated Federal income tax return. Under tax sharing agreements, each subsidiary provides for and settles income taxes with FNCB as if it would have filed on a separate return basis. Interest and penalties, if any, as a result of a taxing authority examination are recognized within non-interest expense. FNCB is not no 2016. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than- not not not 50% no x December 31, 2019 2018. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Earnings per share is calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per share reflect additional shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation FNCB is required to measure and record compensation expense for stock-based payments based on the instrument’s fair value on the date of the grant. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model. The fair value of shares of restricted stock awarded under the Long Term Incentive Compensation Plan (“LTIP”) is determined using an average of the high and low prices for FNCB’s common stock for the 10 |
Bank Owned Life Insurance, Policy [Policy Text Block] | Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) represents the cash surrender value of life insurance policies on certain current and former directors and officers of FNCB. FNCB purchased the insurance as a tax-deferred investment and future source of funding for liabilities, including the payment of employee benefits such as health care. BOLI is carried in the consolidated statements of financial condition at its cash surrender value. Increases in the cash value of the policies, as well as proceeds received, are recorded in non-interest income. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $113 $111 December 31, 2019 2018, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurement FNCB uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale debt securities are recorded at fair value on a recurring basis. Additionally, from time to time, FNCB may Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not Accounting standards define fair value, establish a framework for measuring fair value, establish a three The three ● Level 1 ● Level 2 not ● Level 3 not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition On January 1, 2018, 2014 09, 606 606 340 40 2014 09 not no ● Deposit service charges - include general service fees for monthly account maintenance, account analysis fees, non-sufficient funds fees, wire transfer fees and other deposit account related fees. Revenue is recognized when FNCB’s performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for service charges on deposit accounts is received immediately or in the following month through a direct charge to customers’ accounts. Also included in deposit service charges is income from ATM surcharges and debit card services income. ATM surcharges are generated when an FNCB cardholder uses a an ATM that is not ● Net gains on the sale of other real estate owned - FNCB records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When FNCB finances the sale of OREO to the buyer, FNCB assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, FNCB adjusts the transaction prices and related gain (loss) on sale if a significant financing component is present. ● Loan referral fees represent fees FNCB receives from a third not no ● Other income third third no |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the statement of financial condition, such items, along with net income, are components of comprehensive income. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Authoritative Accounting Guidance Accounting Standards Update ("ASU") 2016 02, 842 12 2016 02 2016 02 December 15, 2018 January 1, 2019 applied the standard by recording a cumulative effect adjustment at that date. may 2016 02 $3.2 $3.7 12, 8, 10 ASU 2017 08, 310 not 2017 08 December 15, 2018 January 1, 2019 not Accounting Guidance to be Adopted in Future Periods ASU 2016 13, 326 2016 13 not not June 17, 2016, 2016 13 not 2016 13, 2016 13 1934, December 15, 2019, may December 15, 2018, November 15, 2019, 2019 10, 326 815 842 not 2019 10 not December 15, 2022. January 1, 2023. CECL 2016 13 not 1 2 3 4 may ASU 2018 13 820 820, 8: 820 2018 13 December 15, 2019 January 1, 2020 not ASU 2018 15 350 40 2018 15 350 40 2018 15 December 15, 2019 December 15, 2019, January 1, 2020 not ASU 2019 12 740 740. 740 2019 12 not 2019 12 December 15, 2020 December 15, 2021, December 15, 2022, January 1, 2022 not ASU 2020 01 321 323 815 321 321; 321 2020 01 December 15, 2020 December 15, 2021 January 1, 2022 not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment Useful Life [Table Text Block] | Buildings and improvements (years) 5 to 40 Furniture, fixtures and equipment (years) 3 to 20 Leasehold improvements (years) 3 to 35 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2019 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 115,428 $ 2,694 $ 359 $ 117,763 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 79,606 780 92 80,294 Collateralized mortgage obligations - commercial 17,414 320 11 17,723 Mortgage-backed securities 18,142 343 - 18,485 Private collateralized mortgage obligations 25,069 49 43 25,075 Corporate debt securities 7,000 182 - 7,182 Asset-backed securities 5,618 4 1 5,621 Negotiable certificates of deposit 694 2 - 696 Total available-for-sale debt securities $ 268,971 $ 4,374 $ 506 $ 272,839 December 31, 2018 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 154,268 $ 214 $ 2,295 $ 152,187 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 35,147 6 946 34,207 Collateralized mortgage obligations - commercial 76,038 - 2,398 73,640 Mortgage-backed securities 24,165 47 278 23,934 Private collateralized mortgage obligations 2,908 7 2 2,913 Corporate debt securities 5,000 14 78 4,936 Asset-backed securities 1,825 - 23 1,802 Negotiable certificates of deposit 2,428 - 15 2,413 Total available-for-sale debt securities $ 301,779 $ 288 $ 6,035 $ 296,032 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2019 Available-for-Sale Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 2,195 $ 2,201 After one year through five years 49,724 50,936 After five years through ten years 51,056 52,525 After ten years 20,147 19,979 Asset-backed securities 5,618 5,621 Collateralized mortgage obligations 122,089 123,092 Mortgage-backed securities 18,142 18,485 Total $ 268,971 $ 272,839 |
Gain (Loss) on Securities [Table Text Block] | Year Ended December 31, (in thousands) 2019 2018 Available-for-sale debt securities: Gross proceeds received on sales $ 128,233 $ 4,559 Gross realized gains 1,257 - Gross realized losses (30 ) (4 ) Year Ended December 31, (in thousands) 2019 2018 Net gain (loss) recognized on equity securities $ 29 $ (27 ) Less: net gains (losses) recognized on equity securities sold - - Unrealized gain (loss) recognized on equity securities held $ 29 $ (27 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2019 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 10 $ 19,436 $ 359 - $ - $ - 10 $ 19,436 $ 359 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 4 19,934 92 - - - 4 19,934 92 Collateralized mortgage obligations - commercial 1 2,500 11 - - - 1 2,500 11 Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 18,990 43 - - - 4 18,990 43 Corporate debt securities - - - - - - - - - Asset-backed securities 2 888 1 - - - 2 888 1 Negotiable certificates of deposit - - - - - - - - - Total 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 December 31, 2018 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 3 $ 7,154 $ 205 109 $ 112,563 $ 2,090 112 $ 119,717 $ 2,295 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential - - - 14 31,414 946 14 31,414 946 Collateralized mortgage obligations - commercial - - - 25 73,640 2,398 25 73,640 2,398 Mortgage-backed securities 1 52 - 6 10,294 278 7 10,346 278 Private collateralized mortgage obligations 1 950 2 - - - 1 950 2 Corporate debt securities 2 2,922 78 - - - 2 2,922 78 Asset-backed securities 1 369 2 1 1,433 21 2 1,802 23 Negotiable certificates of deposit 3 740 3 7 1,673 12 10 2,413 15 Total 11 $ 12,187 $ 290 162 $ 231,017 $ 5,745 173 $ 243,204 $ 6,035 |
Investment [Table Text Block] | December 31, (in thousands) 2019 2018 Stock in Federal Home Loan Bank of Pittsburgh $ 3,794 $ 3,113 Stock in Atlantic Community Bankers Bank 10 10 Total restricted securities, at cost $ 3,804 $ 3,123 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, (in thousands) 2019 2018 Residential real estate $ 170,723 $ 164,833 Commercial real estate 278,379 262,778 Construction, land acquisition and development 47,484 20,813 Commercial and industrial 147,623 150,962 Consumer 138,239 176,784 State and political subdivisions 43,908 59,037 Total loans, gross 826,356 835,207 Unearned income (69 ) (70 ) Net deferred loan costs 2,192 3,963 Allowance for loan and lease losses (8,950 ) (9,519 ) Loans, net $ 819,529 $ 829,581 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for Loan and Lease Losses by Loan Category December 31, 2019 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2019 $ 1,175 $ 3,107 $ 188 $ 2,552 $ 2,051 $ 417 $ 29 $ 9,519 Charge-offs (27 ) - (18 ) (1,258 ) (1,311 ) - - (2,614 ) Recoveries 9 32 82 364 761 - - 1,248 Provisions (credits) (10 ) 59 19 339 157 (164 ) 397 797 Ending balance, December 31, 2019 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Specific reserve $ 9 $ 221 $ - $ 242 $ 1 $ - $ - $ 473 General reserve $ 1,138 $ 2,977 $ 271 $ 1,755 $ 1,657 $ 253 $ 426 $ 8,477 Loans receivable: Individually evaluated for impairment $ 2,711 $ 11,640 $ 76 $ 1,164 $ 195 $ - $ - $ 15,786 Collectively evaluated for impairment 168,012 266,739 47,408 146,459 138,044 43,908 - 810,570 Total loans, gross at December 31, 2019 $ 170,723 $ 278,379 $ 47,484 $ 147,623 $ 138,239 $ 43,908 $ - $ 826,356 Allowance for Loan and Lease Losses by Loan Category December 31, 2018 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2018 $ 1,236 $ 3,499 $ 209 $ 2,340 $ 1,395 $ 355 $ - $ 9,034 Charge-offs (63 ) (1,845 ) - (97 ) (1,134 ) - - (3,139 ) Recoveries 135 42 30 291 576 - - 1,074 Provisions (credits) (133 ) 1,411 (51 ) 18 1,214 62 29 2,550 Ending balance, December 31, 2018 $ 1,175 $ 3,107 $ 188 $ 2,552 $ 2,051 $ 417 $ 29 $ 9,519 Specific reserve $ 14 $ 41 $ - $ 600 $ 2 $ - $ - $ 657 General reserve $ 1,161 $ 3,066 $ 188 $ 1,952 $ 2,049 $ 417 $ 29 $ 8,862 Loans receivable: Individually evaluated for impairment $ 1,847 $ 9,408 $ 82 $ 697 $ 383 $ - $ - $ 12,417 Collectively evaluated for impairment 162,986 253,370 20,731 150,265 176,401 59,037 - 822,790 Total loans, gross at December 31, 2018 $ 164,833 $ 262,778 $ 20,813 $ 150,962 $ 176,784 $ 59,037 $ - $ 835,207 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 32,219 $ 177 $ 307 $ - $ - $ 32,703 $ 136,709 $ 1,311 $ 138,020 $ 170,723 Commercial real estate 266,112 1,668 10,599 - - 278,379 - - - 278,379 Construction, land acquisition and development 46,361 - - - - 46,361 1,123 - 1,123 47,484 Commercial and industrial 140,589 426 1,484 - - 142,499 5,124 - 5,124 147,623 Consumer 3,111 - - - - 3,111 134,457 671 135,128 138,239 State and political subdivisions 43,908 - - - - 43,908 - - - 43,908 Total $ 532,300 $ 2,271 $ 12,390 $ - $ - $ 546,960 $ 277,413 $ 1,982 $ 279,395 $ 826,356 Credit Quality Indicators December 31, 2018 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 33,573 $ 291 $ 154 $ - $ - $ 34,018 $ 130,132 $ 683 $ 130,815 $ 164,833 Commercial real estate 250,674 1,858 10,246 - - 262,778 - - - 262,778 Construction, land acquisition and development 17,704 - 757 - - 18,461 2,352 - 2,352 20,813 Commercial and industrial 137,888 4,193 2,448 - - 144,529 6,421 12 6,433 150,962 Consumer 2,024 - - - - 2,024 174,373 387 174,760 176,784 State and political subdivisions 57,345 1,665 27 - - 59,037 - - - 59,037 Total $ 499,208 $ 8,007 $ 13,632 $ - $ - $ 520,847 $ 313,278 $ 1,082 $ 314,360 $ 835,207 |
Financing Receivable, Past Due [Table Text Block] | December 31, 2019 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 168,754 $ 134 $ 261 $ - $ 169,149 Commercial real estate 272,561 75 106 - 272,742 Construction, land acquisition and development 47,484 - - - 47,484 Commercial and industrial 146,221 200 - - 146,421 Consumer 135,384 1,695 489 - 137,568 State and political subdivisions 43,908 - - - 43,908 Total performing (accruing) loans 814,312 2,104 856 - 817,272 Non-accrual loans: Residential real estate 873 17 228 456 1,574 Commercial real estate 2,520 893 434 1,790 5,637 Construction, land acquisition and development - - - - - Commercial and industrial 943 - 114 145 1,202 Consumer 193 93 38 347 671 State and political subdivisions - - - - - Total non-accrual loans 4,529 1,003 814 2,738 9,084 Total loans receivable $ 818,841 $ 3,107 $ 1,670 $ 2,738 $ 826,356 December 31, 2018 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 163,690 $ 319 $ 136 $ - $ 164,145 Commercial real estate 259,904 - - - 259,904 Construction, land acquisition and development 20,813 - - - 20,813 Commercial and industrial 150,108 87 20 - 150,215 Consumer 173,890 2,221 286 - 176,397 State and political subdivisions 59,037 - - - 59,037 Total performing (accruing) loans 827,442 2,627 442 - 830,511 Non-accrual loans: Residential real estate 443 - 136 109 688 Commercial real estate 1,061 - - 1,813 2,874 Construction, land acquisition and development - - - - - Commercial and industrial 677 50 - 20 747 Consumer 91 61 74 161 387 State and political subdivisions - - - - - Total non-accrual loans 2,272 111 210 2,103 4,696 Total loans receivable $ 829,714 $ 2,738 $ 652 $ 2,103 $ 835,207 |
Impaired Financing Receivables [Table Text Block] | December 31, 2019 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 1,217 $ 1,303 $ - Commercial real estate 4,548 6,007 - Construction, land acquisition and development 76 76 - Commercial and industrial 593 850 - Consumer 23 26 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 6,457 8,262 - With a related allowance recorded: Residential real estate 1,494 1,494 9 Commercial real estate 7,092 7,811 221 Construction, land acquisition and development - - - Commercial and industrial 571 573 242 Consumer 172 172 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,329 10,050 473 Total of impaired loans: Residential real estate 2,711 2,797 9 Commercial real estate 11,640 13,818 221 Construction, land acquisition and development 76 76 - Commercial and industrial 1,164 1,423 242 Consumer 195 198 1 State and political subdivisions - - - Total impaired loans $ 15,786 $ 18,312 $ 473 December 31, 2018 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 313 $ 375 $ - Commercial real estate 7,149 8,795 - Construction, land acquisition and development 82 82 - Commercial and industrial - - - Consumer 26 28 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 7,570 9,280 - With a related allowance recorded: Residential real estate 1,534 1,534 14 Commercial real estate 2,259 2,259 41 Construction, land acquisition and development - - - Commercial and industrial 697 697 600 Consumer 357 357 2 State and political subdivisions - - - Total impaired loans with a related allowance recorded 4,847 4,847 657 Total of impaired loans: Residential real estate 1,847 1,909 14 Commercial real estate 9,408 11,054 41 Construction, land acquisition and development 82 82 - Commercial and industrial 697 697 600 Consumer 383 385 2 State and political subdivisions - - - Total impaired loans $ 12,417 $ 14,127 $ 657 |
Schedule of Average Balance and Interest Income on Impaired Loans [Table Text Block] | Year Ended December 31, 2019 2018 Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Residential real estate $ 2,157 $ 84 $ 1,827 $ 83 Commercial real estate 10,092 297 8,580 311 Construction, land acquisition and development 79 5 83 5 Commercial and industrial 1,207 1 759 1 Consumer 243 11 388 17 State and political subdivisions - - - - Total impaired loans $ 13,778 $ 398 $ 11,637 $ 417 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Year Ended December 31, 2019 Pre-Modification Outstanding Recorded Investment by Type of Modification (in thousands) Number of Contracts Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Post-Modification Outstanding Recorded Investment Loan category: Residential real estate 4 $ 24 $ - $ 42 $ 208 $ 274 $ 289 Commercial real estate 2 432 178 - - 610 644 Construction, land acquisition and development - - - - - - - Commercial and industrial 4 933 - - - 933 932 Consumer - - - - - - - State and political subdivisions - - - - - - - Total modifications 10 $ 1,389 $ 178 $ 42 $ 208 $ 1,817 $ 1,865 |
Note 6 - Bank Premises and Eq_2
Note 6 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Property Plant and Equipment Components [Table Text Block] | December 31, (in thousands) 2019 2018 Land $ 3,537 $ 3,383 Buildings and improvements 12,798 10,865 Furniture, fixtures and equipment 11,551 10,178 Leasehold improvements 3,578 3,601 Total 31,464 28,027 Accumulated depreciation (13,946 ) (13,602 ) Net $ 17,518 $ 14,425 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, (in thousands) 2019 2018 Demand (non-interest bearing) $ 179,465 $ 156,600 Interest-bearing: Interest-bearing demand 534,677 557,803 Savings 94,530 92,078 Time ($250,000 and over) 48,425 56,659 Other time 144,612 232,489 Total interest-bearing 822,244 939,029 Total deposits $ 1,001,709 $ 1,095,629 |
Schedule of Maturities of Time Deposits [Table Text Block] | $250,000 Other (in thousands) and Over Time Deposits Total 2020 41,009 93,903 134,912 2021 6,126 38,823 44,949 2022 1,290 5,547 6,837 2023 - 2,687 2,687 2024 3,652 3,652 2025 and thereafter - - - Total $ 48,425 $ 144,612 $ 193,037 |
Note 8 - Borrowed Funds (Tables
Note 8 - Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of and for the Year Ended December 31, 2019 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ 14,100 $ 14,971 $ 59,825 2.58 % 1.80 % FHLB of Pittsburgh advances - term 32,809 37,831 65,171 2.26 % 1.86 % Federal funds - 8 - - - Federal reserve discount window advances - - - - - Subordinated debentures - 520 5,000 4.50 % - % Junior subordinated debentures 10,310 10,310 10,310 4.17 % 3.56 % As of and for the Year Ended December 31, 2018 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ 6,600 $ 45,066 $ 103,250 2.05 % 2.65 % FHLB of Pittsburgh advances - term 12,330 59,197 101,661 1.86 % 1.77 % Federal funds - - - - - Federal reserve discount window advances - - - - - Subordinated debentures 5,000 5,000 5,000 4.50 % 4.50 % Junior subordinated debentures 10,310 10,310 10,310 3.88 % 4.46 % |
Schedule of Maturities of Long-term Debt [Table Text Block] | December 31, 2019 Weighted Average (in thousands) Amount Interest Rate 2020 $ 21,387 1.73 % 2021 25,522 1.93 % 2022 - - 2023 - - 2024 - - 2025 and thereafter 10,310 3.56 % Total $ 57,219 2.15 % |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Year Ended December 31, (in thousands) 2019 2018 Current $ - $ (2,764 ) Deferred 2,326 5,835 Income tax expense $ 2,326 $ 3,071 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Year Ended December 31, (in thousands) 2019 2018 Provision at statutory tax rates $ 2,814 $ 3,448 Add (deduct): Tax effects of non-taxable income (344 ) (378 ) Non-deductible interest expense 19 15 Bank-owned life insurance (109 ) (117 ) Other items, net (54 ) 103 Income tax expense $ 2,326 $ 3,071 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (in thousands) 2019 2018 Allowance for loan and lease losses $ 2,027 $ 2,052 Deferred compensation 592 817 Unrealized holding losses on securities available-for-sale - 1,207 Lease liability 729 - Other real estate owned valuation 33 125 Deferred intangible assets 166 300 Employee benefits 192 102 Accrued rent expense - 72 Accrued vacation 42 36 Deferred income - 51 Depreciation 10 51 Net operating loss carryover 4,348 6,291 Gross deferred tax assets 8,139 11,104 Deferred loan origination costs (143 ) (192 ) Unrealized holding gains on securities available-for-sale (812 ) - Right of use asset (660 ) - Deferred income (22 ) - Accrued interest (224 ) (219 ) Gross deferred tax liabilities (1,861 ) (411 ) Net deferred tax assets $ 6,278 $ 10,693 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | For the Year Ended December 31, (in thousands) 2019 2018 Balance January 1, $ 64,634 $ 55,576 Additions, new loans and advances 93,871 87,015 Repayments (80,609 ) (77,957 ) Balance December 31, $ 77,896 $ 64,634 |
Note 12 - Commitments, Contin_2
Note 12 - Commitments, Contingencies and Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | (in thousands) For the Year Ended December 31, 2019 Operating lease cost - bank branches $ 343 Operating lease cost - automobiles and equipment 31 Short-term lease cost - office space 42 Short-term lease cost - automobiles and equipment 2 Variable lease cost - Total lease cost $ 418 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) December 31, 2019 2020 $ 387 2021 353 2022 331 2023 323 2024 287 2025 and thereafter 2,813 Total lease payments 4,494 Less: imputed interest 1,023 Present value of operating lease liabilities $ 3,471 |
Lease, Other Information Related to Operating Leases [Table Text Block] | (dollars in thousands) December 31, 2019 Weighted-average remaining lease term 14.3 years Weighted-average discount rate 3.45 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 385 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum Future Lease Payments December 31, 2018 (in thousands) Facilities Vehicles & Equipment Total 2019 $ 385 $ 13 $ 398 2021 313 1 314 2022 287 - 287 2023 265 - 265 2024 223 - 223 2025 and thereafter 820 - 820 Total $ 2,293 $ 14 $ 2,307 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | December 31, (in thousands) 2019 2018 Commitments to extend credit $ 275,891 $ 181,322 Standby letters of credit 15,081 15,121 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | December 31, 2019 December 31, 2018 % of % of (in thousands) Amount Gross Loans Amount Gross Loans Retail space/shopping centers $ 43,865 5.31 % $ 48,021 5.75 % 1-4 family residential investment properties 38,122 4.61 % 38,756 4.64 % Physicians 26,739 * 3.24 % 25,379 3.04 % |
Note 13 - Stock Compensation _2
Note 13 - Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Stock Options Roll Forward [Table Text Block] | For the Years Ended December 31, 2019 2018 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Stock options outstanding at the beginning of the year 19,200 $ 10.81 19,200 $ 10.81 Granted - - - - Exercised - - - - Forfeited (19,200 ) $ 10.81 - - Stock options outstanding at the end of the year - $ - 19,200 $ 10.81 Options exercisable at year end - $ - 19,200 $ 10.81 Weighted average fair value of options granted during the year $ - $ - Stock-based compensation expense $ - $ - |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | For the Years Ended December 31, 2019 2018 Weighted- Weighted- Average Average Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Unvested restricted stock awards at January 1, 114,702 $ 7.50 106,129 $ 6.23 Awards granted 57,684 7.64 57,829 8.54 Forfeitures (6,678 ) 7.61 (2,898 ) 7.25 Vestings (37,558 ) 6.80 (46,358 ) 5.93 Unvested restricted stock awards at December 31, 128,150 $ 7.76 114,702 $ 7.50 |
Note 14 - Regulatory Matters _2
Note 14 - Regulatory Matters & Subsequent Event (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2019 Total capital (to risk-weighted assets) $ 133,406 14.77 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 123,753 13.70 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 123,753 13.70 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 123,753 10.36 % 4.00 % 4.000 % 5.00 % Total risk-weighted assets 903,172 Total average assets 1,194,789 FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2018 Total capital (to risk-weighted assets) $ 112,128 12.17 % 8.00 % 9.875 % 10.00 % Tier I capital (to risk-weighted assets) 102,354 11.11 % 6.00 % 7.875 % 8.00 % Tier I common equity (to risk-weighted assets) 102,354 11.11 % 4.50 % 6.375 % 6.50 % Tier I capital (to average assets) 102,354 8.27 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 921,126 Total average assets 1,238,347 |
Note 15 - Fair Value Measurem_2
Note 15 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2019 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale debt securities: Obligations of state and political subdivisions $ 117,763 $ - $ 117,763 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 80,294 - 80,294 - Collateralized mortgage obligations - commercial 17,723 - 17,723 - Mortgage-backed securities 18,485 - 18,485 - Private collateralized mortgage obligations 25,075 - 25,075 - Corporate debt securities 7,182 - 2,032 5,150 Asset-backed securities 5,621 - 5,621 - Negotiable certificates of deposit 696 - 696 - Total available-for-sale debt securities $ 272,839 $ - $ 267,689 $ 5,150 Equity Securities $ 920 $ 920 $ - $ - Fair Value Measurements at December 31, 2018 Quoted Prices Significant Significant in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale debt securities: Obligations of state and political subdivisions $ 152,187 $ - $ 152,187 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 34,207 - 34,207 - Collateralized mortgage obligations - commercial 73,640 - 73,640 - Mortgage-backed securities 23,934 - 23,934 - Private collateralized mortgage obligations 2,913 - 2,913 - Corporate debt securities 4,936 - 1,007 3,929 Asset-backed securities 1,802 - 1,802 - Negotiable certificates of deposit 2,413 - 2,413 - Total available-for-sale debt securities $ 296,032 $ - $ 292,103 $ 3,929 Equity Securities $ 891 $ 891 $ - $ - |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities For the Year Ended December 31, (in thousands) 2019 2018 Balance at January 1, $ 3,929 $ 4,058 Additions 1,000 - Payments received - - Sales - - Total gains or losses (realized/unrealized): Included in earnings - - Included in other comprehensive income 221 (129 ) Balance at December 31, $ 5,150 $ 3,929 |
Fair Value Measurements, Nonrecurring [Table Text Block] | December 31, 2019 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 7,721 $ 376 $ 7,345 Appraisal of collateral Selling costs 10.0% Impaired loans - other 8,065 97 7,968 Discounted cash flows Discount rate 3.99% - 7.49 % Other real estate owned 289 - 289 Appraisal of collateral Selling costs 10.0% December 31, 2018 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 8,020 $ 606 $ 7,414 Appraisal of collateral Selling costs 10.0% Impaired loans - other 4,397 51 4,346 Discounted cash flows Discount rate 3.70% - 7.50% Other real estate owned 919 - 919 Appraisal of collateral Selling costs 10.0% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value December 31, 2019 December 31, 2018 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 34,565 $ 34,565 $ 36,481 $ 36,481 Available-for-sale debt securities See previous table 272,839 272,839 296,032 296,032 Equity securities Level 1 920 920 891 891 Restricted stock Level 2 3,804 3,804 3,123 3,123 Loans held for sale Level 2 1,061 1,061 820 820 Loans, net Level 3 819,529 810,074 829,581 816,234 Accrued interest receivable Level 2 3,234 3,234 3,614 3,614 Equity securities without readily determinable fair values Level 3 1,658 1,658 1,658 1,658 Servicing rights Level 3 356 790 350 878 Financial liabilities Deposits Level 2 1,001,709 1,001,829 1,095,629 1,093,797 Borrowed funds Level 2 57,219 57,234 34,240 34,108 Accrued interest payable Level 2 258 258 338 338 |
Note 16 - Earnings Per Share (T
Note 16 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Year Ended December 31, (in thousands, except share data) 2019 2018 Net income $ 11,075 $ 13,349 Basic weighted-average number of common stock outstanding 19,802,095 16,799,004 Plus: common share equivalents 5,497 21,749 Diluted weighted-average number of common stock outstanding 19,807,592 16,820,753 Income per share of common stock: Basic $ 0.56 $ 0.79 Diluted $ 0.56 $ 0.79 |
Note 17 - Other Comprehensive_2
Note 17 - Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the year Ended December 31, 2019 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (1,227 ) Net gain (loss) on the sale of available-for-sale securities Taxes 258 Income taxes Net of tax amount $ (969 ) For the year Ended December 31, 2018 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net losses reclassified into net income $ 4 Net gain (loss) on the sale of available-for-sale securities Taxes (1 ) Income taxes Net of tax amount $ 3 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | For the Year Ended December 31, (in thousands) 2019 2018 Balance, January 1, $ (4,540 ) $ (1,745 ) Other comprehensive income (loss) before reclassifications 8,565 (2,863 ) Amounts reclassified from accumulated other comprehensive income (loss) (969 ) 3 Net other comprehensive income (loss) during the period 7,596 (2,860 ) Reclassification of net loss on equity securities upon adoption of ASU 2016-01 - 65 Balance, December 31, $ 3,056 $ (4,540 ) |
Note 18 - Condensed Financial_2
Note 18 - Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, (in thousands) 2019 2018 Assets: Cash $ 10,343 $ 5,976 Investment in statutory trust 418 405 Investment in subsidiary (equity method) 131,194 104,134 Other assets 2,019 2,081 Total assets $ 143,974 $ 112,596 Liabilities and Shareholders’ Equity: Subordinated debentures $ - $ 5,000 Junior subordinated debentures 10,310 10,310 Accrued interest payable 16 38 Other liabilities 41 29 Total liabilities 10,367 15,377 Shareholders’ equity 133,607 97,219 Total liabilities and shareholders’ equity $ 143,974 $ 112,596 |
Condensed Income Statement [Table Text Block] | For the Year Ended December 31, (in thousands) 2019 2018 Income: Dividends from subsidiaries $ 10,000 $ 12,180 Interest on interest-bearing deposits in other banks 77 3 Income from trust 13 12 Total income 10,090 12,195 Expense: Interest on subordinated notes 24 228 Interest on junior subordinated debt 430 400 Other operating expenses 275 353 Other losses - 32 Total expenses 729 1,013 Income before income taxes 9,361 11,182 Provision for income taxes - - Income before equity in undistributed net income of subsidiary 9,361 11,182 Equity in undistributed net income of subsidiary 1,714 2,167 Net income $ 11,075 $ 13,349 |
Condensed Cash Flow Statement [Table Text Block] | For the Year Ended December 31, (in thousands) 2019 2018 Cash flows from operating activities: Net income $ 11,075 $ 13,349 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiary (1,714 ) (2,167 ) Equity in trust (13 ) (12 ) (Decrease) increase in accrued interest payable (22 ) 3 Decrease in other assets 467 65 Decrease in director indemnification liability - (2,553 ) Increase (decrease) in other liabilities 12 (30 ) Net cash provided by operating activities 9,805 8,655 Cash flows from investing activities: Investment in Subsidiary (17,750 ) - Net cash used in investing activities (17,750 ) - Cash flows from financing activities: Principal reduction on subordinated debentures (5,000 ) - Proceeds from issuance of common shares 21,342 117 Cash dividends paid (4,030 ) (2,857 ) Net cash provided by (used in) financing activities 12,312 (2,740 ) Net increase in cash 4,367 5,915 Cash at beginning of year 5,976 61 Cash at end of year $ 10,343 $ 5,976 |
Note 19 - Selected Quarterly _2
Note 19 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2019 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 11,609 $ 11,462 $ 11,506 $ 11,479 Interest expense 2,663 2,508 2,455 2,170 Net interest income 8,946 8,954 9,051 9,309 (Credit) provision for loan and lease losses (154 ) 347 637 (33 ) Net interest income after (credit) provision for loan and lease losses 9,100 8,607 8,414 9,342 Non-interest income 1,515 1,578 1,831 2,696 Non-interest expense 7,425 7,122 7,329 7,806 Income before income taxes 3,190 3,063 2,916 4,232 Income tax expense 555 514 513 744 Net income $ 2,635 $ 2,549 $ 2,403 $ 3,488 Earnings per share: Basic $ 0.14 $ 0.13 $ 0.12 $ 0.17 Diluted $ 0.14 $ 0.13 $ 0.12 $ 0.17 2018 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 10,440 $ 11,234 $ 11,693 $ 11,718 Interest expense 1,562 1,997 2,438 2,581 Net interest income 8,878 9,237 9,255 9,137 Provision (credit) for loan and lease losses 720 880 1,149 (199 ) Net interest income after provision (credit) for loan and lease losses 8,158 8,357 8,106 9,336 Non-interest income 1,519 1,529 1,320 7,422 Non-interest expense 7,232 6,966 7,188 7,941 Income before income taxes 2,445 2,920 2,238 8,817 Income tax expense 426 508 388 1,749 Net income $ 2,019 $ 2,412 $ 1,850 $ 7,068 Earnings per share: Basic $ 0.12 $ 0.14 $ 0.11 $ 0.42 Diluted $ 0.12 $ 0.14 $ 0.11 $ 0.42 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Loans Still Classified as Non-accrual Status, Period of Past Due | 90 days | ||
Financing Receivable Performance Period Under Loan Terms for Reclassification from Non-accrual Status | 180 days | ||
Outstanding Loans Balances That Are Considered to Be Within Homogeneous Pools and Not Individually Evaluated for Impairment, Maximum | $ 100 | ||
Minimum Balance of Impaired Loan Relationships That Are Individually Evaluated for Impairment | 100 | ||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 3,200 | ||
Operating Lease, Liability, Total | $ 3,700 | ||
Other Liabilities [Member] | |||
Operating Lease, Liability, Total | 3,471 | ||
Other Liabilities [Member] | Guaranteed Minimum Death Benefit [Member] | |||
Net Amount at Risk by Product and Guarantee, Net Amount at Risk | $ 113 | $ 111 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Building and Building Improvements [Member] | Minimum [Member] | |
Buildings and improvements (Year) | 5 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Buildings and improvements (Year) | 40 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Buildings and improvements (Year) | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Buildings and improvements (Year) | 20 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Buildings and improvements (Year) | 3 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Buildings and improvements (Year) | 35 years |
Note 3 - Restricted Cash Bala_2
Note 3 - Restricted Cash Balances (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Average Reserves Maintained with Federal Reserve Bank | $ 1.6 | $ 1.6 |
Compensating Balances Maintained at Correspondent Banks | $ 1.2 | $ 2.8 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ / shares in Units, $ in Thousands | Jan. 01, 2018USD ($) | Sep. 30, 2020$ / sharesshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($)$ / shares |
Number of Non-government Securities of Any Individual Issuer Exceeding 10 Percent of Shareholders' Equity | 0 | 0 | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 21 | 173 | |||
Other than Temporary Impairment Losses, Investments, Total | $ 0 | ||||
Equity Securities, FV-NI | 920 | $ 891 | |||
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings | |||||
Share Price | $ / shares | $ 8.25 | ||||
Forecast [Member] | Merger Agreement [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Per Share | shares | 0.6212 | ||||
Business Acquisition, Share Price | $ / shares | $ 16.50 | ||||
Business Combination, Consideration Transferred, Cash, Percent | 25.00% | ||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Percent | 75.00% | ||||
Other Assets [Member] | |||||
Equity Securities without Readily Determinable Fair Value, Amount | 1,700 | 1,700 | |||
Federal Home Loan Bank of Pittsburgh [Member] | |||||
Impairment on Federal Home Loan Bank Stock | 0 | 0 | |||
Retained Earnings [Member] | |||||
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings | (65) | ||||
Retained Earnings [Member] | Accounting Standards Update 2016-01 [Member] | |||||
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings | $ (65) | ||||
Mutual Fund [Member] | |||||
Equity Securities, FV-NI, Cost | 1,000 | ||||
Equity Securities, FV-NI, Accumulated Unrealized Loss | 80 | 109 | |||
Equity Securities, FV-NI | $ 920 | $ 891 | |||
US States and Political Subdivisions Debt Securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 10 | 112 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 5 | ||||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | 1 | |||
Asset-backed Securities [Member] | |||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 2 | 2 | |||
Equity Security Without Readily Determinable Fair Value [Member] | |||||
Equity Securities without Readily Determinable Fair Value, Shares | shares | 201,000 | ||||
Payments to Acquire Other Investments | $ 1,700 |
Note 4 - Securities - Available
Note 4 - Securities - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities, amortized cost | $ 268,971 | $ 301,779 |
Available-for-sale debt securities, gross unrealized holding gains | 4,374 | 288 |
Available-for-sale debt securities, gross unrealized holding losses | 506 | 6,035 |
Available-for-sale debt securities, at fair value | 272,839 | 296,032 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 115,428 | 154,268 |
Available-for-sale debt securities, gross unrealized holding gains | 2,694 | 214 |
Available-for-sale debt securities, gross unrealized holding losses | 359 | 2,295 |
Available-for-sale debt securities, at fair value | 117,763 | 152,187 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 79,606 | 35,147 |
Available-for-sale debt securities, gross unrealized holding gains | 780 | 6 |
Available-for-sale debt securities, gross unrealized holding losses | 92 | 946 |
Available-for-sale debt securities, at fair value | 80,294 | 34,207 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 17,414 | 76,038 |
Available-for-sale debt securities, gross unrealized holding gains | 320 | |
Available-for-sale debt securities, gross unrealized holding losses | 11 | 2,398 |
Available-for-sale debt securities, at fair value | 17,723 | 73,640 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 18,142 | 24,165 |
Available-for-sale debt securities, gross unrealized holding gains | 343 | 47 |
Available-for-sale debt securities, gross unrealized holding losses | 278 | |
Available-for-sale debt securities, at fair value | 18,485 | 23,934 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, amortized cost | 25,069 | 2,908 |
Available-for-sale debt securities, gross unrealized holding gains | 49 | 7 |
Available-for-sale debt securities, gross unrealized holding losses | 43 | 2 |
Available-for-sale debt securities, at fair value | 25,075 | 2,913 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 7,000 | 5,000 |
Available-for-sale debt securities, gross unrealized holding gains | 182 | 14 |
Available-for-sale debt securities, gross unrealized holding losses | 78 | |
Available-for-sale debt securities, at fair value | 7,182 | 4,936 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 5,618 | 1,825 |
Available-for-sale debt securities, gross unrealized holding gains | 4 | |
Available-for-sale debt securities, gross unrealized holding losses | 1 | 23 |
Available-for-sale debt securities, at fair value | 5,621 | 1,802 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, amortized cost | 694 | 2,428 |
Available-for-sale debt securities, gross unrealized holding gains | 2 | 0 |
Available-for-sale debt securities, gross unrealized holding losses | 15 | |
Available-for-sale debt securities, at fair value | $ 696 | $ 2,413 |
Note 4 - Securities - Availab_2
Note 4 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
One year or less, amortized cost | $ 2,195 | |
One year or less, fair value | 2,201 | |
After one year through five years, amortized cost | 49,724 | |
After one year through five years, fair value | 50,936 | |
After five years through ten years, amortized cost | 51,056 | |
After five years through ten years, fair value | 52,525 | |
After ten years, amortized cost | 20,147 | |
After ten years, fair value | 19,979 | |
Total, amortized cost | 268,971 | $ 301,779 |
Available-for-sale debt securities | 272,839 | 296,032 |
Asset-backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 5,618 | |
Securities without a single maturity, fair value | 5,621 | |
Total, amortized cost | 5,618 | 1,825 |
Available-for-sale debt securities | 5,621 | 1,802 |
Collateralized Mortgage Obligations [Member] | ||
Securities without a single maturity, amortized cost | 122,089 | |
Securities without a single maturity, fair value | 123,092 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 18,142 | |
Securities without a single maturity, fair value | 18,485 | |
Total, amortized cost | 18,142 | 24,165 |
Available-for-sale debt securities | $ 18,485 | $ 23,934 |
Note 4 - Securities - Gross Pro
Note 4 - Securities - Gross Proceeds Received and Realized Gain (Loss) on Sale of Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Gross proceeds received on sales | $ 128,233 | $ 4,559 |
Gross realized gains | 1,257 | |
Gross realized losses | (30) | (4) |
Net gain (loss) on equity securities | 29 | (27) |
Less: net gains (losses) recognized on equity securities sold | ||
Unrealized gain (loss) recognized on equity securities held | $ 29 | $ (27) |
Note 4 - Securities - Availab_3
Note 4 - Securities - Available-for-sale Debt Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Less than 12 months, number of securities | 21 | 11 |
Less than 12 months, fair value | $ 61,748 | $ 12,187 |
Less than 12 months, gross unrealized losses | $ 506 | $ 290 |
12 months or longer, number of securities | 162 | |
12 months or longer, fair value | $ 231,017 | |
12 months or longer, gross unrealized losses | $ 5,745 | |
Total, number of securities | 21 | 173 |
Total, fair value | $ 61,748 | $ 243,204 |
Total, gross unrealized losses | $ 506 | $ 6,035 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, number of securities | 10 | 3 |
Less than 12 months, fair value | $ 19,436 | $ 7,154 |
Less than 12 months, gross unrealized losses | $ 359 | $ 205 |
12 months or longer, number of securities | 109 | |
12 months or longer, fair value | $ 112,563 | |
12 months or longer, gross unrealized losses | $ 2,090 | |
Total, number of securities | 10 | 112 |
Total, fair value | $ 19,436 | $ 119,717 |
Total, gross unrealized losses | $ 359 | $ 2,295 |
Residential Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 4 | |
Less than 12 months, fair value | $ 19,934 | |
Less than 12 months, gross unrealized losses | $ 92 | |
12 months or longer, number of securities | 14 | |
12 months or longer, fair value | $ 31,414 | |
12 months or longer, gross unrealized losses | $ 946 | |
Total, number of securities | 4 | 14 |
Total, fair value | $ 19,934 | $ 31,414 |
Total, gross unrealized losses | $ 92 | $ 946 |
Commercial Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 1 | |
Less than 12 months, fair value | $ 2,500 | |
Less than 12 months, gross unrealized losses | $ 11 | |
12 months or longer, number of securities | 25 | |
12 months or longer, fair value | $ 73,640 | |
12 months or longer, gross unrealized losses | $ 2,398 | |
Total, number of securities | 1 | 25 |
Total, fair value | $ 2,500 | $ 73,640 |
Total, gross unrealized losses | $ 11 | $ 2,398 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 1 | |
Less than 12 months, fair value | $ 52 | |
Less than 12 months, gross unrealized losses | ||
12 months or longer, number of securities | 6 | |
12 months or longer, fair value | $ 10,294 | |
12 months or longer, gross unrealized losses | $ 278 | |
Total, number of securities | 7 | |
Total, fair value | $ 10,346 | |
Total, gross unrealized losses | $ 278 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Less than 12 months, number of securities | 4 | 1 |
Less than 12 months, fair value | $ 18,990 | $ 950 |
Less than 12 months, gross unrealized losses | $ 43 | $ 2 |
12 months or longer, number of securities | ||
12 months or longer, fair value | ||
12 months or longer, gross unrealized losses | ||
Total, number of securities | 4 | 1 |
Total, fair value | $ 18,990 | $ 950 |
Total, gross unrealized losses | $ 43 | $ 2 |
Corporate Debt Securities [Member] | ||
Less than 12 months, number of securities | 2 | |
Less than 12 months, fair value | $ 2,922 | |
Less than 12 months, gross unrealized losses | $ 78 | |
12 months or longer, number of securities | 0 | |
12 months or longer, fair value | $ 0 | |
12 months or longer, gross unrealized losses | $ 0 | |
Total, number of securities | 2 | |
Total, fair value | $ 2,922 | |
Total, gross unrealized losses | $ 78 | |
Asset-backed Securities [Member] | ||
Less than 12 months, number of securities | 2 | 1 |
Less than 12 months, fair value | $ 888 | $ 369 |
Less than 12 months, gross unrealized losses | $ 1 | $ 2 |
12 months or longer, number of securities | 1 | |
12 months or longer, fair value | $ 1,433 | |
12 months or longer, gross unrealized losses | $ 21 | |
Total, number of securities | 2 | 2 |
Total, fair value | $ 888 | $ 1,802 |
Total, gross unrealized losses | $ 1 | $ 23 |
Negotiable Certificates of Deposit [Member] | ||
Less than 12 months, number of securities | 3 | |
Less than 12 months, fair value | $ 740 | |
Less than 12 months, gross unrealized losses | $ 3 | |
12 months or longer, number of securities | 7 | |
12 months or longer, fair value | $ 1,673 | |
12 months or longer, gross unrealized losses | $ 12 | |
Total, number of securities | 10 | |
Total, fair value | $ 2,413 | |
Total, gross unrealized losses | $ 15 |
Note 4 - Securities - Restricte
Note 4 - Securities - Restricted Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Stock in Atlantic Community Bankers Bank | $ 10 | $ 10 |
Restricted stock, at cost | 3,804 | 3,123 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Stock in Federal Home Loan Bank of Pittsburgh | $ 3,794 | $ 3,113 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Gain (Loss) on Sales of Loans, Net, Total | $ 253 | $ 210 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ 1,061 | 820 |
Loans Still Classified as Non-accrual Status, Period of Past Due | 90 days | |
Financing Receivable, Nonaccrual | $ 9,100 | 4,700 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 0 |
Evaluated Individually for Impairment, Non-accrued Loans Other Than TDRs, Threshold | 100 | |
Financing Receivable, Collectively Evaluated for Impairment | 810,570 | 822,790 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 400 | 200 |
Financing Receivable, Troubled Debt Restructuring | 9,100 | 9,200 |
Loans and Leases Receivable, Allowance, Ending Balance | 8,950 | 9,519 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | 10 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 4 | |
Number of Real Estate Properties in Process of Foreclosure | 1 | |
Real Estate Investment Property in Process of Foreclosure | $ 154 | |
Real Estate Investment Property, Foreclosed | $ 0 | |
Real Estate Investment Property, Net, Total | $ 204 | $ 45 |
Number of Real Estate Properties in OREO | 1 | 1 |
Residential Portfolio Segment [Member] | Investor-owned Real Estate Loan [Member] | ||
Number of Real Estate Properties, Foreclosed | 2 | |
Real Estate Investment Property, Foreclosed | $ 256 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Collectively Evaluated for Impairment | $ 138,044 | $ 176,401 |
Financing Receivable, Modifications, Number of Contracts | ||
Mortgage Loans in Process of Foreclosure, Number | 2 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 0 | |
Troubled Debt Restructuring [Member] | ||
Loans and Leases Receivable, Allowance, Ending Balance | $ 97 | 651 |
Nonaccrual Loans [Member] | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,000 | 700 |
Performing Financial Instruments [Member] | ||
Financing Receivable, Troubled Debt Restructuring | 7,700 | 8,500 |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Troubled Debt Restructuring | 1,400 | 700 |
Small Business Administration [Member] | ||
Gain (Loss) on Sales of Loans, Net, Total | 322 | |
Loans Sold During Period, Principal Balance | 0 | 5,700 |
Loans Serviced for Others, Unpaid Principal Balance | 106,000 | 108,400 |
One- to Four-family Mortgages [Member] | ||
Recorded Investment of Mortgage Loans Sold | 9,600 | |
Gain (Loss) on Sales of Loans, Net, Total | 253 | 210 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | $ 1,100 | $ 820 |
Note 5 - Loans - Loans Receivab
Note 5 - Loans - Loans Receivable, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans, gross | $ 826,356 | $ 835,207 |
Unearned income | (69) | (70) |
Net deferred loan costs | 2,192 | 3,963 |
Allowance for loan and lease losses | (8,950) | (9,519) |
Loans, net | 819,529 | 829,581 |
Residential Portfolio Segment [Member] | ||
Loans, gross | 170,723 | 164,833 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, gross | 278,379 | 262,778 |
Construction, Land Acquisition and Development [Member] | ||
Loans, gross | 47,484 | 20,813 |
Commercial and Industrial [Member] | ||
Loans, gross | 147,623 | 150,962 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 138,239 | 176,784 |
State and Political Subdivisions [Member] | ||
Loans, gross | $ 43,908 | $ 59,037 |
Note 5 - Loans - Activity in th
Note 5 - Loans - Activity in the Allowance for Loan Losses, by Loan Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 9,519 | $ 9,034 | $ 9,519 | $ 9,034 | ||||||
Charge-offs | (2,614) | (3,139) | ||||||||
Recoveries | 1,248 | 1,074 | ||||||||
Provision for loan and lease losses | $ (33) | $ 637 | $ 347 | (154) | $ (199) | $ 1,149 | $ 880 | 720 | 797 | 2,550 |
Balance | 8,950 | 9,519 | 8,950 | 9,519 | ||||||
Specific reserve | 473 | 657 | 473 | 657 | ||||||
General reserve | 8,477 | 8,862 | 8,477 | 8,862 | ||||||
Individually evaluated for impairment | 15,786 | 12,417 | 15,786 | 12,417 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 810,570 | 822,790 | 810,570 | 822,790 | ||||||
Total loans, gross | 826,356 | 835,207 | 826,356 | 835,207 | ||||||
Residential Portfolio Segment [Member] | ||||||||||
Total loans, gross | 170,723 | 164,833 | 170,723 | 164,833 | ||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||||||
Balance | 1,175 | 1,236 | 1,175 | 1,236 | ||||||
Charge-offs | (27) | (63) | ||||||||
Recoveries | 9 | 135 | ||||||||
Provision for loan and lease losses | (10) | (133) | ||||||||
Balance | 1,147 | 1,175 | 1,147 | 1,175 | ||||||
Specific reserve | 9 | 14 | 9 | 14 | ||||||
General reserve | 1,138 | 1,161 | 1,138 | 1,161 | ||||||
Individually evaluated for impairment | 2,711 | 1,847 | 2,711 | 1,847 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 168,012 | 162,986 | 168,012 | 162,986 | ||||||
Total loans, gross | 170,723 | 164,833 | 170,723 | 164,833 | ||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Total loans, gross | 278,379 | 262,778 | 278,379 | 262,778 | ||||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||||||
Balance | 3,107 | 3,499 | 3,107 | 3,499 | ||||||
Charge-offs | (1,845) | |||||||||
Recoveries | 32 | 42 | ||||||||
Provision for loan and lease losses | 59 | 1,411 | ||||||||
Balance | 3,198 | 3,107 | 3,198 | 3,107 | ||||||
Specific reserve | 221 | 41 | 221 | 41 | ||||||
General reserve | 2,977 | 3,066 | 2,977 | 3,066 | ||||||
Individually evaluated for impairment | 11,640 | 9,408 | 11,640 | 9,408 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 266,739 | 253,370 | 266,739 | 253,370 | ||||||
Total loans, gross | 278,379 | 262,778 | 278,379 | 262,778 | ||||||
Construction, Land Acquisition and Development [Member] | ||||||||||
Total loans, gross | 47,484 | 20,813 | 47,484 | 20,813 | ||||||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||||||||
Balance | 188 | 209 | 188 | 209 | ||||||
Charge-offs | (18) | |||||||||
Recoveries | 82 | 30 | ||||||||
Provision for loan and lease losses | 19 | (51) | ||||||||
Balance | 271 | 188 | 271 | 188 | ||||||
Specific reserve | ||||||||||
General reserve | 271 | 188 | 271 | 188 | ||||||
Individually evaluated for impairment | 76 | 82 | 76 | 82 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 47,408 | 20,731 | 47,408 | 20,731 | ||||||
Total loans, gross | 47,484 | 20,813 | 47,484 | 20,813 | ||||||
Commercial and Industrial [Member] | ||||||||||
Balance | 2,552 | 2,340 | 2,552 | 2,340 | ||||||
Charge-offs | (1,258) | (97) | ||||||||
Recoveries | 364 | 291 | ||||||||
Provision for loan and lease losses | 339 | 18 | ||||||||
Balance | 1,997 | 2,552 | 1,997 | 2,552 | ||||||
Specific reserve | 242 | 600 | 242 | 600 | ||||||
General reserve | 1,755 | 1,952 | 1,755 | 1,952 | ||||||
Individually evaluated for impairment | 1,164 | 697 | 1,164 | 697 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 146,459 | 150,265 | 146,459 | 150,265 | ||||||
Total loans, gross | 147,623 | 150,962 | 147,623 | 150,962 | ||||||
Consumer Portfolio Segment [Member] | ||||||||||
Balance | 2,051 | 1,395 | 2,051 | 1,395 | ||||||
Charge-offs | (1,311) | (1,134) | ||||||||
Recoveries | 761 | 576 | ||||||||
Provision for loan and lease losses | 157 | 1,214 | ||||||||
Balance | 1,658 | 2,051 | 1,658 | 2,051 | ||||||
Specific reserve | 1 | 2 | 1 | 2 | ||||||
General reserve | 1,657 | 2,049 | 1,657 | 2,049 | ||||||
Individually evaluated for impairment | 195 | 383 | 195 | 383 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 138,044 | 176,401 | 138,044 | 176,401 | ||||||
Total loans, gross | 138,239 | 176,784 | 138,239 | 176,784 | ||||||
State and Political Subdivisions [Member] | ||||||||||
Balance | 417 | 355 | 417 | 355 | ||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Provision for loan and lease losses | (164) | 62 | ||||||||
Balance | 253 | 417 | 253 | 417 | ||||||
Specific reserve | ||||||||||
General reserve | 253 | 417 | 253 | 417 | ||||||
Individually evaluated for impairment | ||||||||||
Financing Receivable, Collectively Evaluated for Impairment | 43,908 | 59,037 | 43,908 | 59,037 | ||||||
Total loans, gross | 43,908 | 59,037 | 43,908 | 59,037 | ||||||
Unallocated Financing Receivables [Member] | ||||||||||
Balance | $ 29 | 29 | ||||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Provision for loan and lease losses | 397 | 29 | ||||||||
Balance | 426 | 29 | 426 | 29 | ||||||
Specific reserve | ||||||||||
General reserve | 426 | 29 | 426 | 29 | ||||||
Individually evaluated for impairment | ||||||||||
Financing Receivable, Collectively Evaluated for Impairment | ||||||||||
Total loans, gross |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans | $ 826,356 | $ 835,207 |
Commercial Loans [Member] | ||
Loans | 546,960 | 520,847 |
Accruing Loans [Member] | ||
Loans | 277,413 | 313,278 |
Nonaccrual Loans [Member] | ||
Loans | 1,982 | 1,082 |
Subtotal, Other Loans [Member] | ||
Loans | 279,395 | 314,360 |
Pass [Member] | Commercial Loans [Member] | ||
Loans | 532,300 | 499,208 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 2,271 | 8,007 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans | 12,390 | 13,632 |
Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | |
Residential Portfolio Segment [Member] | ||
Loans | 170,723 | 164,833 |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 32,703 | 34,018 |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 136,709 | 130,132 |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 1,311 | 683 |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 138,020 | 130,815 |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 32,219 | 33,573 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 177 | 291 |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 307 | 154 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 278,379 | 262,778 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 278,379 | 262,778 |
Commercial Real Estate Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 266,112 | 250,674 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 1,668 | 1,858 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 10,599 | 10,246 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | ||
Loans | 47,484 | 20,813 |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | ||
Loans | 46,361 | 18,461 |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | ||
Loans | 1,123 | 2,352 |
Construction, Land Acquisition and Development [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Subtotal, Other Loans [Member] | ||
Loans | 1,123 | 2,352 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 46,361 | 17,704 |
Construction, Land Acquisition and Development [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 0 | 757 |
Construction, Land Acquisition and Development [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | ||
Loans | 147,623 | 150,962 |
Commercial and Industrial [Member] | Commercial Loans [Member] | ||
Loans | 142,499 | 144,529 |
Commercial and Industrial [Member] | Accruing Loans [Member] | ||
Loans | 5,124 | 6,421 |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 12 |
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | ||
Loans | 5,124 | 6,433 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 140,589 | 137,888 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 426 | 4,193 |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 1,484 | 2,448 |
Commercial and Industrial [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 138,239 | 176,784 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 3,111 | 2,024 |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 134,457 | 174,373 |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 671 | 387 |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 135,128 | 174,760 |
Consumer Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 3,111 | 2,024 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | ||
Loans | 43,908 | 59,037 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | ||
Loans | 43,908 | 59,037 |
State and Political Subdivisions [Member] | Accruing Loans [Member] | ||
Loans | 0 | |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | ||
Loans | 0 | |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 43,908 | 57,345 |
State and Political Subdivisions [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 1,665 | |
State and Political Subdivisions [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 27 | |
State and Political Subdivisions [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | |
State and Political Subdivisions [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | $ 0 |
Note 5 - Loans - Performing and
Note 5 - Loans - Performing and Non-performing Loan Delinquency Status (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans past due | $ 826,356 | $ 835,207 |
Performing Financial Instruments [Member] | ||
Loans past due | 817,272 | 830,511 |
Nonperforming Financial Instruments [Member] | ||
Loans past due | 9,084 | 4,696 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 169,149 | 164,145 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,574 | 688 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 272,742 | 259,904 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 47,484 | 20,813 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 146,421 | 150,215 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,202 | 747 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 137,568 | 176,397 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 671 | 387 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 43,908 | 59,037 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 5,637 | 2,874 |
Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans past due | 818,841 | 829,714 |
Financial Asset, 1 to 29 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 814,312 | 827,442 |
Financial Asset, 1 to 29 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 4,529 | 2,272 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 168,754 | 163,690 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 873 | 443 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 272,561 | 259,904 |
Financial Asset, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 47,484 | 20,813 |
Financial Asset, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 146,221 | 150,108 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 943 | 677 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 135,384 | 173,890 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 193 | 91 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 43,908 | 59,037 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 2,520 | 1,061 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 3,107 | 2,738 |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 2,104 | 2,627 |
Financial Asset, 30 to 59 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,003 | 111 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 134 | 319 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 17 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 75 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 200 | 87 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 50 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 1,695 | 2,221 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 93 | 61 |
Financial Asset, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 893 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 1,670 | 652 |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 856 | 442 |
Financial Asset, 60 to 89 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 814 | 210 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 261 | 136 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 228 | 136 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 106 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 20 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 114 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 489 | 286 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 38 | 74 |
Financial Asset, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 434 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 2,738 | 2,103 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 2,738 | 2,103 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 456 | 109 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 145 | 20 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 347 | 161 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | $ 1,790 | $ 1,813 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Recorded investment, with no allowance recorded | $ 6,457 | $ 7,570 |
Unpaid principal balance, with no allowance recorded | 8,262 | 9,280 |
Recorded investment, with a related allowance recorded | 9,329 | 4,847 |
Unpaid principal balance, with a related allowance recorded | 10,050 | 4,847 |
Related allowance | 473 | 657 |
Recorded investment | 15,786 | 12,417 |
Unpaid principal balance | 18,312 | 14,127 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 1,217 | 313 |
Unpaid principal balance, with no allowance recorded | 1,303 | 375 |
Recorded investment, with a related allowance recorded | 1,494 | 1,534 |
Unpaid principal balance, with a related allowance recorded | 1,494 | 1,534 |
Related allowance | 9 | 14 |
Recorded investment | 2,711 | 1,847 |
Unpaid principal balance | 2,797 | 1,909 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 4,548 | 7,149 |
Unpaid principal balance, with no allowance recorded | 6,007 | 8,795 |
Recorded investment, with a related allowance recorded | 7,092 | 2,259 |
Unpaid principal balance, with a related allowance recorded | 7,811 | 2,259 |
Related allowance | 221 | 41 |
Recorded investment | 11,640 | 9,408 |
Unpaid principal balance | 13,818 | 11,054 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 76 | 82 |
Unpaid principal balance, with no allowance recorded | 76 | 82 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 76 | 82 |
Unpaid principal balance | 76 | 82 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 593 | 0 |
Unpaid principal balance, with no allowance recorded | 850 | 0 |
Recorded investment, with a related allowance recorded | 571 | 697 |
Unpaid principal balance, with a related allowance recorded | 573 | 697 |
Related allowance | 242 | 600 |
Recorded investment | 1,164 | 697 |
Unpaid principal balance | 1,423 | 697 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance recorded | 23 | 26 |
Unpaid principal balance, with no allowance recorded | 26 | 28 |
Recorded investment, with a related allowance recorded | 172 | 357 |
Unpaid principal balance, with a related allowance recorded | 172 | 357 |
Related allowance | 1 | 2 |
Recorded investment | 195 | 383 |
Unpaid principal balance | 198 | 385 |
State and Political Subdivisions [Member] | ||
Recorded investment, with no allowance recorded | 0 | 0 |
Unpaid principal balance, with no allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | $ 0 | $ 0 |
Note 5 - Loans - Average Balanc
Note 5 - Loans - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Average Balance | $ 13,778 | $ 11,637 | |
Interest Income | [1] | 398 | 417 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Average Balance | 2,157 | 1,827 | |
Interest Income | [1] | 84 | 83 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Average Balance | 10,092 | 8,580 | |
Interest Income | [1] | 297 | 311 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||
Average Balance | 79 | 83 | |
Interest Income | [1] | 5 | 5 |
Commercial and Industrial [Member] | |||
Average Balance | 1,207 | 759 | |
Interest Income | [1] | 1 | 1 |
Consumer Portfolio Segment [Member] | |||
Average Balance | 243 | 388 | |
Interest Income | [1] | 11 | 17 |
State and Political Subdivisions [Member] | |||
Average Balance | 0 | 0 | |
Interest Income | [1] | $ 0 | $ 0 |
[1] | Interest income represents income recognized on performing TDRs. |
Note 5 - Loans - Loans Modified
Note 5 - Loans - Loans Modified as TDRs (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018 | |
Number of contracts | 10 | 0 |
Pre-modification outstanding recorded investment | $ 1,817 | |
Post-modification outstanding recorded investment | 1,865 | |
Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 1,389 | |
Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 178 | |
Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 42 | |
Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 208 | |
Residential Portfolio Segment [Member] | ||
Number of contracts | 4 | |
Pre-modification outstanding recorded investment | $ 274 | |
Post-modification outstanding recorded investment | 289 | |
Residential Portfolio Segment [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 24 | |
Residential Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Residential Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 42 | |
Residential Portfolio Segment [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 208 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of contracts | 2 | |
Pre-modification outstanding recorded investment | $ 610 | |
Post-modification outstanding recorded investment | 644 | |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 432 | |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 178 | |
Commercial Real Estate Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Commercial Real Estate Portfolio Segment [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | ||
Construction, Land Acquisition and Development [Member] | ||
Number of contracts | ||
Pre-modification outstanding recorded investment | ||
Post-modification outstanding recorded investment | ||
Construction, Land Acquisition and Development [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | ||
Construction, Land Acquisition and Development [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Construction, Land Acquisition and Development [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Construction, Land Acquisition and Development [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | ||
Commercial and Industrial [Member] | ||
Number of contracts | 4 | |
Pre-modification outstanding recorded investment | $ 933 | |
Post-modification outstanding recorded investment | 932 | |
Commercial and Industrial [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 933 | |
Commercial and Industrial [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Commercial and Industrial [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Commercial and Industrial [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | ||
Consumer Portfolio Segment [Member] | ||
Number of contracts | ||
Pre-modification outstanding recorded investment | ||
Post-modification outstanding recorded investment | ||
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | ||
Consumer Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Consumer Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
Consumer Portfolio Segment [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | ||
State and Political Subdivisions [Member] | ||
Number of contracts | ||
Pre-modification outstanding recorded investment | ||
Post-modification outstanding recorded investment | ||
State and Political Subdivisions [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | ||
State and Political Subdivisions [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
State and Political Subdivisions [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | ||
State and Political Subdivisions [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment |
Note 6 - Bank Premises and Eq_3
Note 6 - Bank Premises and Equipment (Details Textual) - USD ($) $ in Thousands | Nov. 05, 2018 | Sep. 27, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
Depreciation, Total | $ 1,400 | $ 1,400 | ||
Payments to Acquire Real Estate, Total | $ 550 | |||
Relocation, Expected Cost | $ 2,000 |
Note 6 - Bank Premises and Eq_4
Note 6 - Bank Premises and Equipment - Property, Plant, and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, plant, and equipment, gross | $ 31,464 | $ 28,027 |
Accumulated depreciation | (13,946) | (13,602) |
Net | 17,518 | 14,425 |
Land [Member] | ||
Property, plant, and equipment, gross | 3,537 | 3,383 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | 12,798 | 10,865 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | 11,551 | 10,178 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 3,578 | $ 3,601 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deposit Liabilities Reclassified as Loans Receivable | $ 62 | $ 36 |
Deposit Liabilities Received on Terms Other than Normal Business | 0 | 0 |
Investment Securities Pledged as Collateral for Municipal Deposits | 235,000 | 286,400 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Letters of Credit Outstanding, Amount | $ 60,000 | $ 47,500 |
Note 7 - Deposits - Summary of
Note 7 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Demand (non-interest-bearing) | $ 179,465 | $ 156,600 |
Interest-bearing demand | 534,677 | 557,803 |
Savings | 94,530 | 92,078 |
Time ($250,000 and over) | 48,425 | 56,659 |
Other time | 144,612 | 232,489 |
Total interest-bearing | 822,244 | 939,029 |
Total deposits | $ 1,001,709 | $ 1,095,629 |
Note 7 - Deposits - Summary o_2
Note 7 - Deposits - Summary of Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 134,912 |
2021 | 44,949 |
2022 | 6,837 |
2023 | 2,687 |
2024 | 3,652 |
2025 and thereafter | |
Total | 193,037 |
Time Deposits $250,000 and Over [Member] | |
2020 | 41,009 |
2021 | 6,126 |
2022 | 1,290 |
2023 | |
2024 | |
2025 and thereafter | |
Total | 48,425 |
Time Deposits Less Than $250,000 [Member] | |
2020 | 93,903 |
2021 | 38,823 |
2022 | 5,547 |
2023 | 2,687 |
2024 | 3,652 |
2025 and thereafter | |
Total | $ 144,612 |
Note 8 - Borrowed Funds (Detail
Note 8 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Feb. 08, 2019 | Sep. 01, 2017 | Oct. 28, 2016 | Jun. 30, 2015 | Dec. 14, 2006 | Dec. 31, 2019 | Dec. 31, 2018 | Jul. 01, 2015 | Sep. 01, 2009 |
Advances from Federal Home Loan Banks, Total | $ 46,909 | $ 18,930 | |||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 10,310 | 10,310 | |||||||
Interest Payable | 258 | 338 | |||||||
Repayments of Subordinated Debt, Total | $ 5,000 | $ 5,000 | $ 4,000 | $ 11,000 | 5,000 | ||||
Subordinated Debt, Ending Balance | $ 14,000 | $ 5,000 | |||||||
Debentures [Member] | |||||||||
Debt Instrument, Interest Rate During Period | 4.17% | 3.88% | |||||||
Interest Payable | $ 16 | $ 19 | |||||||
Notes [Member] | |||||||||
Interest Payable | 19 | ||||||||
Federal Home Loan Bank Advances [Member] | Minimum [Member] | |||||||||
Debt Instrument, Term | 270 days | ||||||||
Federal Home Loan Bank Advances [Member] | Maximum [Member] | |||||||||
Debt Instrument, Term | 2 years | ||||||||
Trust Preferred Securities [Member] | First National Community Statutory Trust 1 [Member] | |||||||||
Proceeds from Issuance of Trust Preferred Securities | $ 10,000 | ||||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 7.02% | ||||||||
Junior Subordinated Debt [Member] | First National Community Statutory Trust 1 [Member] | |||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | $ 10,300 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.02% | ||||||||
Junior Subordinated Debt [Member] | First National Community Statutory Trust 1 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.67% | ||||||||
Subordinated Debt [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 4.50% | |||||||
Percent of Principal Amount Outstanding, Prepayment | 44.00% | ||||||||
Subordinated Debt [Member] | First Payment [Member] | |||||||||
Percent of Principal Amount Outstanding to Be Repaid | 16.00% | ||||||||
Debt Instrument Principal Amount Payable | $ 4,000 | ||||||||
Subordinated Debt [Member] | Second Payment [Member] | |||||||||
Percent of Principal Amount Outstanding to Be Repaid | 20.00% | ||||||||
Debt Instrument Principal Amount Payable | $ 5,000 | ||||||||
Subordinated Debt [Member] | Third Payment [Member] | |||||||||
Percent of Principal Amount Outstanding to Be Repaid | 20.00% | ||||||||
Debt Instrument Principal Amount Payable | $ 5,000 | ||||||||
Subordinated Debt [Member] | Maximum [Member] | |||||||||
Debt Instrument, Face Amount | $ 25,000 | ||||||||
Federal Home Loan Bank of Pittsburgh [Member] | |||||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 475,300 | 492,300 | |||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 333,300 | ||||||||
Advances from Federal Home Loan Banks, Total | 32,800 | ||||||||
Letters of Credit Outstanding, Amount | 60,000 | $ 47,500 | |||||||
Federal Home Loan Bank of Pittsburgh [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | |||||||||
Advances from Federal Home Loan Banks, Total | 14,100 | ||||||||
Federal Funds Purchased [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 40,000 | ||||||||
Federal Reserve Bank Advances [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 11,400 | ||||||||
Loans Pledged as Collateral | $ 22,900 |
Note 8 - Borrowed Funds - Compo
Note 8 - Borrowed Funds - Components of Borrowed Funds (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Long-term borrowed funds, ending balance | $ 57,219 | $ 34,240 |
Subordinated Debt [Member] | ||
Long-term borrowed funds, ending balance | 5,000 | |
Long-term borrowed funds, average balance | 520 | 5,000 |
Long-term borrowed funds, maximum month-end balance | $ 5,000 | $ 5,000 |
Long-term borrowed funds, weighted average rate for the year | 4.50% | 4.50% |
Total, weighted average interest rate | 4.50% | |
Junior Subordinated Debt [Member] | ||
Long-term borrowed funds, ending balance | $ 10,310 | $ 10,310 |
Long-term borrowed funds, average balance | 10,310 | 10,310 |
Long-term borrowed funds, maximum month-end balance | $ 10,310 | $ 10,310 |
Long-term borrowed funds, weighted average rate for the year | 4.17% | 3.88% |
Total, weighted average interest rate | 3.56% | 4.46% |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Short-term borrowed funds, ending balance | $ 14,100 | $ 6,600 |
Short-term borrowed funds, average balance | 14,971 | 45,066 |
Short-term borrowed funds, maximum month-end balance | $ 59,825 | $ 103,250 |
Short-term borrowed funds, weighted average rate for the year | 2.58% | 2.05% |
Short-term borrowed funds, weighted average rate at year end | 1.80% | 2.65% |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Term [Member] | ||
Short-term borrowed funds, ending balance | $ 32,809 | $ 12,330 |
Short-term borrowed funds, average balance | 37,831 | 59,197 |
Short-term borrowed funds, maximum month-end balance | $ 65,171 | $ 101,661 |
Short-term borrowed funds, weighted average rate for the year | 2.26% | 1.86% |
Short-term borrowed funds, weighted average rate at year end | 1.86% | 1.77% |
Federal Funds Purchased [Member] | ||
Short-term borrowed funds, ending balance | ||
Short-term borrowed funds, average balance | 8 | |
Short-term borrowed funds, maximum month-end balance | ||
Short-term borrowed funds, weighted average rate for the year | ||
Short-term borrowed funds, weighted average rate at year end | ||
Federal Reserve Bank Advances [Member] | ||
Short-term borrowed funds, ending balance | ||
Short-term borrowed funds, average balance | ||
Short-term borrowed funds, maximum month-end balance | ||
Short-term borrowed funds, weighted average rate for the year | ||
Short-term borrowed funds, weighted average rate at year end |
Note 8 - Borrowed Funds - Borro
Note 8 - Borrowed Funds - Borrowed Funds by Maturity Date (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Total borrowed funds | $ 57,219 | $ 34,240 |
Borrowed Funds [Member] | ||
2020, amount | $ 21,387 | |
2020, weighted average interest rate | 1.73% | |
2021, amount | $ 25,522 | |
2021, weighted average interest rate | 1.93% | |
2022, amount | ||
2022, weighted average interest rate | ||
2023, amount | ||
2023, weighted average interest rate | ||
2024, amount | ||
2024, weighted average interest rate | ||
2025 and thereafter, amount | $ 10,310 | |
2025 and thereafter, weighted average interest rate | 3.56% | |
Total borrowed funds | $ 57,219 | |
Total, weighted average interest rate | 2.15% |
Note 9 - Benefit Plans (Details
Note 9 - Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Compensation Liability, Current and Noncurrent, Total | $ 2,000 | $ 3,200 |
Profit Sharing Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 0 | 0 |
Pension Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 305 | 298 |
Supplemental Executive Retirement Plan [Member] | ||
Retirement Plan, Annual, Accrued Unfunded Contributions | 173 | 108 |
Liability, Other Retirement Benefits | $ 657 | $ 557 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Operating Loss Carryforwards, Total | $ 20,700 | |
Deferred Tax Assets, Operating Loss Carryforwards, Total | $ 4,348 | $ 6,291 |
Note 10 - Income Taxes - Compon
Note 10 - Income Taxes - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current | $ (2,764) | |||||||||
Deferred | 2,326 | 5,835 | ||||||||
Income tax expense | $ 744 | $ 513 | $ 514 | $ 555 | $ 1,749 | $ 388 | $ 508 | $ 426 | $ 2,326 | $ 3,071 |
Note 10 - Income Taxes - Effect
Note 10 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Provision at statutory tax rates | $ 2,814 | $ 3,448 | ||||||||
Tax effects of non-taxable income | (344) | (378) | ||||||||
Non-deductible interest expense | 19 | 15 | ||||||||
Bank-owned life insurance | (109) | (117) | ||||||||
Other items, net | (54) | 103 | ||||||||
Income tax expense | $ 744 | $ 513 | $ 514 | $ 555 | $ 1,749 | $ 388 | $ 508 | $ 426 | $ 2,326 | $ 3,071 |
Note 10 - Income Taxes - Net De
Note 10 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for loan and lease losses | $ 2,027 | $ 2,052 |
Deferred compensation | 592 | 817 |
Unrealized holding losses on securities available-for-sale | 1,207 | |
Lease liability | 729 | |
Other real estate owned valuation | 33 | 125 |
Deferred intangible assets | 166 | 300 |
Employee benefits | 192 | 102 |
Accrued rent expense | 72 | |
Accrued vacation | 42 | 36 |
Deferred income | 51 | |
Depreciation | 10 | 51 |
Net operating loss carryover | 4,348 | 6,291 |
Gross deferred tax assets | 8,139 | 11,104 |
Deferred loan origination costs | (143) | (192) |
Unrealized holding gains on securities available-for-sale | (812) | |
Right of use asset | (660) | |
Deferred income | (22) | |
Accrued interest | (224) | (219) |
Gross deferred tax liabilities | (1,861) | (411) |
Net deferred tax assets | $ 6,278 | $ 10,693 |
Note 11 - Related Party Trans_3
Note 11 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Feb. 08, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Related Party Transactions Interest Accrued and Unpaid | $ 12 | ||
Directors, Executive Officers and Their Related Parties [Member] | |||
Related Party Deposit Liabilities | $ 84,100 | 115,500 | |
Related Party Transactions, Interest Paid on Deposits | 484 | 348 | |
Related Party Transaction, Expenses from Transactions with Related Party | 2,400 | 2,500 | |
Related Party Transaction, Subordinated Debt, Accelerated Partial Principal Repayment | $ 5,000 | ||
Related Party Transaction, Interest Paid | $ 3,100 | ||
Due to Related Parties, Total | 0 | ||
Related Party Transactions, Subordinated Debt | 3,100 | ||
Interest Expense, Related Party | 24 | $ 141 | |
Directors, Executive Officers and Their Related Parties [Member] | Nonperforming Financial Instruments [Member] | |||
Due from Related Parties, Total | $ 0 |
Note 11 - Related Party Trans_4
Note 11 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 64,634 | $ 55,576 |
Additions, new loans and advances | 93,871 | 87,015 |
Repayments | (80,609) | (77,957) |
Balance | $ 77,896 | $ 64,634 |
Note 12 - Commitments, Contin_3
Note 12 - Commitments, Contingencies and Concentrations (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Leases, Rent Expense, Net, Total | $ 418 | $ 492 |
Reserves for Unfunded Commitments | 703 | 255 |
Payments Serviced for Federal Home Loan Bank | 21,500 | |
Maximum Obligation for Guarantees to Federal Home Loan Bank if Aggregate Foreclosure Losses on Pool of Loans Exceeds Specified Amount | 902 | |
Maximum Amount of Aggregate Foreclosure Losses on Entire Pool of Loans | 64 | |
Cash and Due from Banks, Total | 22,861 | 26,673 |
Loans and Leases Receivable, Gross, Total | 826,356 | 835,207 |
Commercial Real Estate, Construction Land Acquisition, and Development Loans Portfolio [Member] | Financing Receivable [Member] | Credit Concentration Risk [Member] | ||
Loans and Leases Receivable, Gross, Total | $ 325,600 | |
Loans and Leases Receivable as Percentage of Aggregate Gross Loans and Leases Receivable | 39.40% | |
Commercial Real Estate, Construction Land Acquisition, and Development Loans Portfolio [Member] | Financing Receivable [Member] | Geographic Concentration Risk [Member] | ||
Loans and Leases Receivable, Gross, Total | $ 24,300 | |
Loans and Leases Receivable as Percentage of Aggregate Gross Loans and Leases Receivable | 2.90% | |
Compass Bank [Member] | ||
Cash and Due from Banks, Total | $ 1,100 | $ 2,700 |
Other Assets [Member] | ||
Operating Lease, Right-of-Use Asset | 3,100 | |
Other Liabilities [Member] | ||
Operating Lease, Liability, Total | $ 3,471 |
Note 12 - Commitments, Contin_4
Note 12 - Commitments, Contingencies and Concentrations - Lease Expense and Information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Variable lease cost | |
Total lease cost | 418 |
Occupancy, Net [Member] | |
Operating lease cost | 343 |
Short-term lease cost | 42 |
Equipment Expense [Member] | |
Operating lease cost | 31 |
Short-term lease cost | $ 2 |
Note 12 - Commitments, Contin_5
Note 12 - Commitments, Contingencies and Concentrations - Maturity of Remaining Operating Lease Liabilities (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 387 |
2021 | 353 |
2022 | 331 |
2023 | 323 |
2024 | 287 |
2025 and thereafter | 2,813 |
Total lease payments | 4,494 |
Less: imputed interest | 1,023 |
Other Liabilities [Member] | |
Present value of operating lease liabilities | $ 3,471 |
Note 12 - Commitments, Contin_6
Note 12 - Commitments, Contingencies and Concentrations - Other Information Related to Operating Leases (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Weighted-average remaining lease term (Year) | 14 years 109 days |
Weighted-average discount rate | 3.45% |
Operating cash flows from operating leases | $ 385 |
Note 12 - Commitments, Contin_7
Note 12 - Commitments, Contingencies and Concentrations - Minimum Future Lease Obligations (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 398 |
2021 | 314 |
2022 | 287 |
2023 | 265 |
2024 | 223 |
2025 and thereafter | 820 |
Total | 2,307 |
Facilities [Member] | |
2019 | 385 |
2021 | 313 |
2022 | 287 |
2023 | 265 |
2024 | 223 |
2025 and thereafter | 820 |
Total | 2,293 |
Equipment [Member] | |
2019 | 13 |
2021 | 1 |
2022 | 0 |
2023 | |
2024 | |
2025 and thereafter | 0 |
Total | $ 14 |
Note 12 - Commitments, Contin_8
Note 12 - Commitments, Contingencies and Concentrations - Fair Value of Off-balance Sheet Risks (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Commitments to Extend Credit [Member] | ||
Off-balance sheet risks, fair value | $ 275,891 | $ 181,322 |
Standby Letters of Credit [Member] | ||
Off-balance sheet risks, fair value | $ 15,081 | $ 15,121 |
Note 12 - Commitments, Contin_9
Note 12 - Commitments, Contingencies and Concentrations - Summary of Loan Concentration Risk (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans, gross | $ 826,356 | $ 835,207 |
Credit Concentration Risk [Member] | Retail Space/Shopping Centers [Member] | ||
Loans, gross | $ 43,865 | $ 48,021 |
Loans and Leases receivable, Percentage of Gross Loans | 5.31% | 5.75% |
Credit Concentration Risk [Member] | The 1-4 Family Residential Investment Properties [Member] | ||
Loans, gross | $ 38,122 | $ 38,756 |
Loans and Leases receivable, Percentage of Gross Loans | 4.61% | 4.64% |
Credit Concentration Risk [Member] | Physicians [Member] | ||
Loans, gross | $ 26,739 | $ 25,379 |
Loans and Leases receivable, Percentage of Gross Loans | 3.24% | 3.04% |
Note 13 - Stock Compensation _3
Note 13 - Stock Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 01, 2019 | Jan. 05, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Feb. 08, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total | 19,200 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | ||||
Shares Issued, Price Per Share | $ 7 | ||||
Long-Term Incentive Compensation Plan [Member] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 809 | $ 675 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,200,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 57,684 | 57,829 | |||
Share-based Payment Arrangement, Expense | $ 255 | $ 279 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years 255 days | ||||
Directors Fee | $ 150 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 869,726 | ||||
Long-Term Incentive Compensation Plan [Member] | Ten Directors [Member] | |||||
Stock Issued During Period, Shares, Share-based Compensation, Per Recipient | 1,956 | ||||
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture | 19,560 | ||||
Shares Issued, Price Per Share | $ 7.67 | ||||
Share-based Payment Arrangement, Option [Member] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 |
Note 13 - Stock Compensation _4
Note 13 - Stock Compensation Plans - Stock Option Plans (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Stock options outstanding, Shares (in shares) | 19,200 | 19,200 |
Stock options outstanding, Weighted average exercise price (in dollars per share) | $ 10.81 | $ 10.81 |
Granted, Shares (in shares) | ||
Granted, Weighted average exercise price (in dollars per share) | ||
Exercised, Shares (in shares) | ||
Exercised, Weighted average exercise price (in dollars per share) | ||
Forfeited, Shares (in shares) | (19,200) | |
Forfeited, Weighted average exercise price (in dollars per share) | $ 10.81 | |
Stock options outstanding, Shares (in shares) | 19,200 | |
Stock options outstanding, Weighted average exercise price (in dollars per share) | $ 10.81 | |
Options exercisable at year end, Shares (in shares) | 19,200 | |
Options exercisable at year end, Weighted average exercise price (in dollars per share) | $ 10.81 |
Note 13 - Stock Compensation _5
Note 13 - Stock Compensation Plans - Stock Compensation Plans (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Unvested restricted stock awards at January 1, (in shares) | 114,702 | |
Unvested restricted stock awards at January 1, Weighted average grant date fair value (in dollars per share) | $ 7.50 | |
Unvested restricted stock awards at December 31, (in shares) | 128,150 | 114,702 |
Unvested restricted stock awards at December 31, Weighted average grant date fair value (in dollars per share) | $ 7.76 | $ 7.50 |
Restricted Stock [Member] | ||
Unvested restricted stock awards at January 1, (in shares) | 114,702 | 106,129 |
Unvested restricted stock awards at January 1, Weighted average grant date fair value (in dollars per share) | $ 7.50 | $ 6.23 |
Awards granted (in shares) | 57,684 | 57,829 |
Awards granted, Weighted average grant date fair value (in dollars per share) | $ 7.64 | $ 8.54 |
Forfeitures (in shares) | (6,678) | (2,898) |
Forfeitures, Weighted average grant date fair value (in dollars per share) | $ 7.61 | $ 7.25 |
Vestings (in shares) | (37,558) | (46,358) |
Vestings, Weighted average grant date fair value (in dollars per share) | $ 6.80 | $ 5.93 |
Unvested restricted stock awards at December 31, (in shares) | 114,702 | |
Unvested restricted stock awards at December 31, Weighted average grant date fair value (in dollars per share) | $ 7.50 |
Note 14 - Regulatory Matters _3
Note 14 - Regulatory Matters & Subsequent Event (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 22, 2020 | Feb. 08, 2019 | Jan. 01, 2015 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2014 |
Stock Issued During Period, Shares, New Issues | 3,285,550 | ||||||
Shares Issued, Price Per Share | $ 7 | ||||||
Shares Issued, Underwriting Discount Per Share | $ 0.35 | ||||||
Proceeds from Issuance of Common Stock | $ 21,300 | $ 21,342 | $ 117 | ||||
Common Stock, Dividends, Per Share, Declared | $ 0.20 | $ 0.17 | |||||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 7,369 | 17,050 | |||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | ||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% | 6.00% | 4.00% | |||
Common Equity Tier One Capital Required for Capital Adequacy to Risk-weighted Assets | 4.50% | 4.50% | 4.50% | ||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | 4.00% | ||||
Capital Conservation Buffer | 2.50% | 1.875% | |||||
Common Equity Tier One Capital Conservation Buffer Implementation of Deductions and Other Adjustments to Common Equity Tier One Capital Phase in Percentage Year | 40.00% | ||||||
Common Equity Tier One Capital Conservation Buffer Implementation of Deductions and Other Adjustments to Common Equity Tier One Capital Phase in Percentage Year 2 | 60.00% | ||||||
Common Equity Tier One Capital Conservation Buffer Implementation of Deductions and Other Adjustments to Common Equity Tier One Capital Phase in Percentage After Year Two | 20.00% | ||||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% | 10.00% | ||||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | 6.00% | |||
Common Equity Tier One Capital Required to Be Well Capitalized to Risk-weighted Assets | 6.50% | 6.50% | 6.50% | ||||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | 5.00% | ||||
Subsequent Event [Member] | |||||||
Common Stock, Dividends, Per Share, Declared | $ 0.055 | ||||||
Dividends Payable, Date to be Paid | Mar. 16, 2020 | ||||||
Dividends Payable, Date of Record | Mar. 2, 2020 | ||||||
FNCB Bank [Member] | |||||||
Payments for Capital Investment in Wholly Owned Subsidiary | $ 17,800 | ||||||
Over-Allotment Option [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 428,550 |
Note 14 - Regulatory Matters _4
Note 14 - Regulatory Matters & Subsequent Event - Risk-based Capital and Related Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2015 | Dec. 31, 2014 |
Total capital (to risk-weighted assets), Amount | $ 133,406 | $ 112,128 | ||
Total capital (to risk-weighted assets), Ratio | 14.77% | 12.17% | ||
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 8.00% | 8.00% | 8.00% | |
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 10.50% | 9.875% | ||
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 10.00% | 10.00% | 10.00% | |
Tier I capital (to risk-weighted assets), Amount | $ 123,753 | $ 102,354 | ||
Tier I capital (to risk-weighted assets), Ratio | 13.70% | 11.11% | ||
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 6.00% | 6.00% | 6.00% | 4.00% |
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 8.50% | 7.875% | ||
Tier I capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 8.00% | 8.00% | 8.00% | 6.00% |
Tier I common equity (to risk-weighted assets), Amount | $ 123,753 | $ 102,354 | ||
Tier I common equity (to risk-weighted assets), Ratio | 13.70% | 11.11% | ||
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes | 4.50% | 4.50% | 4.50% | |
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 7.00% | 6.375% | ||
Tier I common equity (to risk-weighted assets), To be well capitalized under prompt corrective action | 6.50% | 6.50% | 6.50% | |
Tier I capital (to average assets), Amount | $ 123,753 | $ 102,354 | ||
Tier I capital (to average assets), Ratio | 10.36% | 8.27% | ||
Tier I capital (to average assets), Minimum required for capital adequacy purposes | 4.00% | 4.00% | 4.00% | |
Tier I capital (to average assets), Minimum required for capital adequacy purposes with conservation buffer | 4.00% | 4.00% | ||
Tier I capital (to average assets), To be well capitalized under prompt corrective action | 5.00% | 5.00% | 5.00% | |
Total risk-weighted assets, Amount | $ 903,172 | $ 921,126 | ||
Total average assets, Amount | $ 1,194,789 | $ 1,238,347 |
Note 15 - Fair Value Measurem_3
Note 15 - Fair Value Measurements (Details Textual) $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 268,971 | $ 301,779 |
Debt Securities, Available-for-sale, Total | 272,839 | 296,032 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 7,000 | 5,000 |
Debt Securities, Available-for-sale, Total | $ 7,182 | $ 4,936 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 5.13 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 5.63 |
Note 15 - Fair Value Measurem_4
Note 15 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale debt securities, at fair value | $ 272,839 | $ 296,032 |
Equity securities | 920 | 891 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 117,763 | 152,187 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 18,485 | 23,934 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 25,075 | 2,913 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 7,182 | 4,936 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 5,621 | 1,802 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 696 | 2,413 |
Fair Value, Recurring [Member] | ||
Available-for-sale debt securities, at fair value | 272,839 | 296,032 |
Equity securities | 920 | 891 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Equity securities | 920 | 891 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 267,689 | 292,103 |
Equity securities | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 5,150 | 3,929 |
Equity securities | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 117,763 | 152,187 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 117,763 | 152,187 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Residential Mortgage [Member] | ||
Available-for-sale debt securities, at fair value | 80,294 | 34,207 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 80,294 | 34,207 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Commercial Loan [Member] | ||
Available-for-sale debt securities, at fair value | 17,723 | 73,640 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 17,723 | 73,640 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 18,485 | 23,934 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 18,485 | 23,934 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 25,075 | 2,913 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 25,075 | 2,913 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 7,182 | 4,936 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 2,032 | 1,007 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 5,150 | 3,929 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 5,621 | 1,802 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 5,621 | 1,802 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 696 | 2,413 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | ||
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 696 | 2,413 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value |
Note 15 - Fair Value Measurem_5
Note 15 - Fair Value Measurements - Changes in Fair Value Assets (Details) - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 3,929 | $ 4,058 |
Additions | 1,000 | |
Payments received | ||
Sales | ||
Included in earnings | ||
Included in other comprehensive income | 221 | (129) |
Balance | $ 5,150 | $ 3,929 |
Note 15 - Fair Value Measurem_6
Note 15 - Fair Value Measurements - Assets Measured At Fair Value on a Non-recurring Basis and Quantitative Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Recorded investment | $ 15,786 | $ 12,417 |
Related allowance | 473 | 657 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded investment | 7,721 | 8,020 |
Related allowance | 376 | 606 |
Fair Value | $ 7,345 | $ 7,414 |
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | ||
Recorded investment | $ 289 | $ 919 |
Related allowance | ||
Fair Value | $ 289 | $ 919 |
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | ||
Recorded investment | $ 8,065 | $ 4,397 |
Related allowance | 97 | 51 |
Fair Value | $ 7,968 | $ 4,346 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Minimum [Member] | ||
Selling Cost | 3.99% | 3.70% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Maximum [Member] | ||
Selling Cost | 7.49% | 7.50% |
Note 15 - Fair Value Measurem_7
Note 15 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets | ||
Available-for-sale debt securities | $ 272,839 | $ 296,032 |
Equity securities | 920 | 891 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Available-for-sale debt securities | 272,839 | 296,032 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and short term investments | 34,565 | 36,481 |
Equity securities | 920 | 891 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Restricted stock | 3,804 | 3,123 |
Loans held for sale | 1,061 | 820 |
Accrued interest receivable | 3,234 | 3,614 |
Financial liabilities | ||
Deposits | 1,001,709 | 1,095,629 |
Borrowed funds | 57,219 | 34,240 |
Accrued interest payable | 258 | 338 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Loans, net | 819,529 | 829,581 |
Equity securities without readily determinable fair values | 1,658 | 1,658 |
Servicing rights | 356 | 350 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets | ||
Available-for-sale debt securities | 272,839 | 296,032 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and short term investments | 34,565 | 36,481 |
Equity securities | 920 | 891 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Restricted stock | 3,804 | 3,123 |
Loans held for sale | 1,061 | 820 |
Accrued interest receivable | 3,234 | 3,614 |
Financial liabilities | ||
Deposits | 1,001,829 | 1,093,797 |
Borrowed funds | 57,234 | 34,108 |
Accrued interest payable | 258 | 338 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Loans, net | 810,074 | 816,234 |
Equity securities without readily determinable fair values | 1,658 | 1,658 |
Servicing rights | $ 790 | $ 878 |
Note 16 - Earnings Per Share (D
Note 16 - Earnings Per Share (Details Textual) | 12 Months Ended |
Dec. 31, 2018shares | |
Share-based Payment Arrangement, Option [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 19,200 |
Note 16 - Earnings Per Share -
Note 16 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 11,075 | $ 13,349 | ||||||||
Basic (in shares) | 19,802,095 | 16,799,004 | ||||||||
Plus: common share equivalents (in shares) | 5,497 | 21,749 | ||||||||
Diluted weighted-average number of common stock outstanding (in shares) | 19,807,592 | 16,820,753 | ||||||||
Basic (in dollars per share) | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.42 | $ 0.11 | $ 0.14 | $ 0.12 | $ 0.56 | $ 0.79 |
Diluted (in dollars per share) | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.42 | $ 0.11 | $ 0.14 | $ 0.12 | $ 0.56 | $ 0.79 |
Note 17 - Other Comprehensive_3
Note 17 - Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reclassification adjustment for net (gains) losses included in net income | $ (1,227) | $ 4 | ||||||||
Income tax expense | $ 744 | $ 513 | $ 514 | $ 555 | $ 1,749 | $ 388 | $ 508 | $ 426 | 2,326 | 3,071 |
Net of tax amount | 969 | (3) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||
Reclassification adjustment for net (gains) losses included in net income | (1,227) | 4 | ||||||||
Income tax expense | 258 | (1) | ||||||||
Net of tax amount | $ (969) | $ 3 |
Note 17 - Other Comprehensive_4
Note 17 - Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 97,219 | $ 89,191 |
Total other comprehensive income (loss) | 7,596 | (2,860) |
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings | ||
Balance | 133,607 | 97,219 |
AOCI Attributable to Parent [Member] | ||
Balance | (4,540) | (1,745) |
Other comprehensive income (loss) before reclassifications | 8,565 | (2,863) |
Amounts reclassified from accumulated other comprehensive income (loss) | (969) | 3 |
Total other comprehensive income (loss) | 7,596 | (2,860) |
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings | 65 | |
Balance | $ 3,056 | $ (4,540) |
Note 18 - Condensed Financial_3
Note 18 - Condensed Financial Information - Parent Company Only - Condensed Statements of Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2015 |
Other assets | $ 12,274 | $ 10,138 | ||
Total assets | 1,203,541 | 1,237,732 | ||
Subordinated Debt, Ending Balance | 5,000 | $ 14,000 | ||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 10,310 | 10,310 | ||
Accrued interest payable | 258 | 338 | ||
Other liabilities | 10,748 | 10,306 | ||
Total liabilities | 1,069,934 | 1,140,513 | ||
Shareholders’ equity | 133,607 | 97,219 | $ 89,191 | |
Total liabilities and shareholders’ equity | 1,203,541 | 1,237,732 | ||
Parent Company [Member] | ||||
Cash | 10,343 | 5,976 | ||
Investment in statutory trust | 418 | 405 | ||
Investment in subsidiary (equity method) | 131,194 | 104,134 | ||
Other assets | 2,019 | 2,081 | ||
Total assets | 143,974 | 112,596 | ||
Subordinated Debt, Ending Balance | 5,000 | |||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 10,310 | 10,310 | ||
Accrued interest payable | 16 | 38 | ||
Other liabilities | 41 | 29 | ||
Total liabilities | 10,367 | 15,377 | ||
Shareholders’ equity | 133,607 | 97,219 | ||
Total liabilities and shareholders’ equity | $ 143,974 | $ 112,596 |
Note 18 - Condensed Financial_4
Note 18 - Condensed Financial Information - Parent Company Only - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest on interest-bearing deposits in other banks | $ 188 | $ 88 | ||||||||
Income from trust | 13 | 12 | ||||||||
Subordinated debentures | 24 | 228 | ||||||||
Junior subordinated debentures | 430 | 400 | ||||||||
Other operating expenses | 4,962 | 4,481 | ||||||||
Other losses | 156 | 598 | ||||||||
Total expenses | $ 7,806 | $ 7,329 | $ 7,122 | $ 7,425 | $ 7,941 | $ 7,188 | $ 6,966 | $ 7,232 | 29,682 | 29,327 |
Income before income taxes | 4,232 | 2,916 | 3,063 | 3,190 | 8,817 | 2,238 | 2,920 | 2,445 | 13,401 | 16,420 |
Income tax expense | 744 | 513 | 514 | 555 | 1,749 | 388 | 508 | 426 | 2,326 | 3,071 |
Income before equity in undistributed net income of subsidiary | 11,075 | 13,349 | ||||||||
Net income | $ 3,488 | $ 2,403 | $ 2,549 | $ 2,635 | $ 7,068 | $ 1,850 | $ 2,412 | $ 2,019 | ||
Parent Company [Member] | ||||||||||
Dividends from subsidiaries | 10,000 | 12,180 | ||||||||
Interest on interest-bearing deposits in other banks | 77 | 3 | ||||||||
Income from trust | 13 | 12 | ||||||||
Total income | 10,090 | 12,195 | ||||||||
Subordinated debentures | 24 | 228 | ||||||||
Junior subordinated debentures | 430 | 400 | ||||||||
Other operating expenses | 275 | 353 | ||||||||
Other losses | 32 | |||||||||
Total expenses | 729 | 1,013 | ||||||||
Income before income taxes | 9,361 | 11,182 | ||||||||
Income tax expense | ||||||||||
Income before equity in undistributed net income of subsidiary | 9,361 | 11,182 | ||||||||
Equity in undistributed net income of subsidiary | 1,714 | 2,167 | ||||||||
Net income | $ 11,075 | $ 13,349 |
Note 18 - Condensed Financial_5
Note 18 - Condensed Financial Information - Parent Company Only - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | Feb. 08, 2019 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
Net income | $ 3,488 | $ 2,403 | $ 2,549 | $ 2,635 | $ 7,068 | $ 1,850 | $ 2,412 | $ 2,019 | |||
Equity in trust | $ (13) | $ (12) | |||||||||
(Decrease) increase in accrued interest payable | (80) | 97 | |||||||||
Increase in prepaid expenses and other assets | (2,107) | (2,347) | |||||||||
Decrease in director indemnification liability | (2,553) | ||||||||||
Net cash provided by operating activities | 14,652 | 23,150 | |||||||||
Net cash provided by (used in) investing activities | 37,061 | (88,818) | |||||||||
Proceeds from issuance of common shares, net of discount | $ 21,300 | 21,342 | 117 | ||||||||
Cash dividends paid | (4,030) | (2,857) | |||||||||
Net cash provided by (used in) financing activities | (53,629) | 64,403 | |||||||||
Net increase in cash | (1,916) | (1,265) | |||||||||
Cash and cash equivalents at beginning of year | 36,481 | 37,746 | 36,481 | 37,746 | |||||||
Cash and cash equivalents at end of year | 34,565 | 36,481 | 34,565 | 36,481 | |||||||
Parent Company [Member] | |||||||||||
Net income | 11,075 | 13,349 | |||||||||
Equity in undistributed income of subsidiary | (1,714) | (2,167) | |||||||||
Equity in trust | (13) | (12) | |||||||||
(Decrease) increase in accrued interest payable | (22) | 3 | |||||||||
Increase in prepaid expenses and other assets | 467 | 65 | |||||||||
Decrease in director indemnification liability | (2,553) | ||||||||||
Increase (decrease) in other liabilities | 12 | (30) | |||||||||
Net cash provided by operating activities | 9,805 | 8,655 | |||||||||
Investment in Subsidiary | (17,750) | ||||||||||
Net cash provided by (used in) investing activities | (17,750) | ||||||||||
Principal reduction on subordinated debentures | (5,000) | ||||||||||
Proceeds from issuance of common shares, net of discount | 21,342 | 117 | |||||||||
Cash dividends paid | (4,030) | (2,857) | |||||||||
Net cash provided by (used in) financing activities | 12,312 | (2,740) | |||||||||
Net increase in cash | 4,367 | 5,915 | |||||||||
Cash and cash equivalents at beginning of year | $ 5,976 | $ 61 | 5,976 | 61 | |||||||
Cash and cash equivalents at end of year | $ 10,343 | $ 5,976 | $ 10,343 | $ 5,976 |
Note 19 - Selected Quarterly _3
Note 19 - Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest income | $ 11,479 | $ 11,506 | $ 11,462 | $ 11,609 | $ 11,718 | $ 11,693 | $ 11,234 | $ 10,440 | $ 46,056 | $ 45,085 |
Interest expense | 2,170 | 2,455 | 2,508 | 2,663 | 2,581 | 2,438 | 1,997 | 1,562 | 9,796 | 8,578 |
Net interest income | 9,309 | 9,051 | 8,954 | 8,946 | 9,137 | 9,255 | 9,237 | 8,878 | 36,260 | 36,507 |
Provision for loan and lease losses | (33) | 637 | 347 | (154) | (199) | 1,149 | 880 | 720 | 797 | 2,550 |
Net interest income after (credit) provision for loan and lease losses | 9,342 | 8,414 | 8,607 | 9,100 | 9,336 | 8,106 | 8,357 | 8,158 | 35,463 | 33,957 |
Non-interest income | 2,696 | 1,831 | 1,578 | 1,515 | 7,422 | 1,320 | 1,529 | 1,519 | 7,620 | 11,790 |
Non-interest expense | 7,806 | 7,329 | 7,122 | 7,425 | 7,941 | 7,188 | 6,966 | 7,232 | 29,682 | 29,327 |
Income before income taxes | 4,232 | 2,916 | 3,063 | 3,190 | 8,817 | 2,238 | 2,920 | 2,445 | 13,401 | 16,420 |
Income tax expense | 744 | 513 | 514 | 555 | 1,749 | 388 | 508 | 426 | $ 2,326 | $ 3,071 |
Net income | $ 3,488 | $ 2,403 | $ 2,549 | $ 2,635 | $ 7,068 | $ 1,850 | $ 2,412 | $ 2,019 | ||
Basic (in dollars per share) | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.42 | $ 0.11 | $ 0.14 | $ 0.12 | $ 0.56 | $ 0.79 |
Diluted (in dollars per share) | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.42 | $ 0.11 | $ 0.14 | $ 0.12 | $ 0.56 | $ 0.79 |