Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 30, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001035976 | |
Entity Registrant Name | FNCB BANCORP, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-38408 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-2900790 | |
Entity Address, Address Line One | 102 E. Drinker St. | |
Entity Address, City or Town | Dunmore | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 18512 | |
City Area Code | 570 | |
Local Phone Number | 346-7667 | |
Title of 12(b) Security | Common stock, $1.25 par value | |
Trading Symbol | FNCB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,243,589 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 26,121 | $ 22,861 |
Interest-bearing deposits in other banks | 78,895 | 11,704 |
Total cash and cash equivalents | 105,016 | 34,565 |
Available-for-sale debt securities, at fair value | 321,399 | 272,839 |
Equity securities, at fair value | 2,719 | 920 |
Restricted stock, at cost | 1,791 | 3,804 |
Loans held for sale | 662 | 1,061 |
Loans, net of allowance for loan and lease losses of $12,269 and $8,950 | 947,960 | 819,529 |
Bank premises and equipment, net | 17,413 | 17,518 |
Accrued interest receivable | 4,693 | 3,234 |
Bank-owned life insurance | 31,596 | 31,230 |
Other real estate owned | 58 | 289 |
Net deferred tax assets | 1,799 | 6,278 |
Other assets | 8,085 | 12,274 |
Total assets | 1,443,191 | 1,203,541 |
Liabilities | ||
Demand (non-interest-bearing) | 274,110 | 179,465 |
Interest-bearing | 998,128 | 822,244 |
Total deposits | 1,272,238 | 1,001,709 |
Borrowed funds: | ||
Federal Home Loan Bank of Pittsburgh advances | 0 | 46,909 |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 10,310 | 57,219 |
Accrued interest payable | 139 | 258 |
Other liabilities | 10,458 | 10,748 |
Total liabilities | 1,293,145 | 1,069,934 |
Shareholders' equity | ||
Preferred shares ($1.25 par) Authorized: 20,000,000 shares at September 30, 2020 and December 31, 2019 Issued and outstanding: 0 shares at September 30, 2020 and December 31, 2019 | 0 | 0 |
Common shares ($1.25 par) Authorized: 50,000,000 shares at September 30, 2020 and December 31, 2019 Issued and outstanding: 20,243,589 shares at September 30, 2020 and 20,171,408 shares at December 31, 2019 | 25,304 | 25,214 |
Additional paid-in capital | 81,500 | 81,130 |
Retained earnings | 31,044 | 24,207 |
Accumulated other comprehensive income | 12,198 | 3,056 |
Total shareholders' equity | 150,046 | 133,607 |
Total liabilities and shareholders’ equity | $ 1,443,191 | $ 1,203,541 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans, allowance for loan and lease losses | $ 12,269 | $ 8,950 |
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) | 20,243,589 | 20,171,408 |
Common shares, outstanding (in shares) | 20,243,589 | 20,171,408 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest and fees on loans | $ 9,078 | $ 9,488 | $ 27,277 | $ 28,313 |
Interest and dividends on securities: | ||||
U.S. government agencies | 494 | 924 | 1,833 | 2,723 |
State and political subdivisions, tax free | 463 | 37 | 908 | 112 |
State and political subdivisions, taxable | 741 | 713 | 2,241 | 2,545 |
Other securities | 525 | 314 | 1,352 | 729 |
Total interest and dividends on securities | 2,223 | 1,988 | 6,334 | 6,109 |
Interest on interest-bearing deposits in other banks | 1 | 30 | 25 | 155 |
Total interest income | 11,302 | 11,506 | 33,636 | 34,577 |
Interest expense | ||||
Interest on deposits | 1,291 | 1,901 | 4,327 | 6,283 |
Interest on borrowed funds: | ||||
Federal Reserve Bank Discount Window advances | 18 | 0 | 32 | 0 |
Federal Home Loan Bank of Pittsburgh advances | 95 | 448 | 474 | 988 |
Junior subordinated debentures | 52 | 106 | 200 | 331 |
Subordinated debentures | 0 | 0 | 0 | 24 |
Total interest on borrowed funds | 165 | 554 | 706 | 1,343 |
Total interest expense | 1,456 | 2,455 | 5,033 | 7,626 |
Net interest income before provision for loan and lease losses | 9,846 | 9,051 | 28,603 | 26,951 |
Provision for loan and lease losses | 74 | 637 | 2,056 | 830 |
Net interest income after provision for loan and lease losses | 9,772 | 8,414 | 26,547 | 26,121 |
Non-interest income | ||||
Deposit service charges | 844 | 797 | 2,377 | 2,203 |
Net gain on the sale of available-for-sale debt securities | 433 | 379 | 1,504 | 702 |
Net gain on equity securities | 846 | 5 | 864 | 31 |
Net gain on the sale of mortgage loans held for sale | 186 | 69 | 465 | 198 |
Net gain on the sale of other real estate owned | 0 | 11 | 0 | 20 |
Loan-related fees | 119 | 80 | 200 | 231 |
Income from bank-owned life insurance | 118 | 134 | 366 | 394 |
Loan referral fees | 76 | 54 | 338 | 74 |
Merchant services revenue | 154 | 142 | 401 | 391 |
Other | 194 | 160 | 650 | 680 |
Total non-interest income | 2,970 | 1,831 | 7,165 | 4,924 |
Non-interest expense | ||||
Salaries and employee benefits | 3,835 | 3,911 | 11,262 | 11,634 |
Occupancy expense | 500 | 460 | 1,520 | 1,454 |
Equipment expense | 381 | 332 | 1,112 | 968 |
Advertising expense | 175 | 228 | 495 | 579 |
Data processing expense | 754 | 742 | 2,188 | 2,312 |
Regulatory assessments | 123 | 21 | 256 | 265 |
Bank shares tax | 263 | 205 | 878 | 760 |
Expense of other real estate owned | 65 | 62 | 155 | 127 |
Professional fees | 279 | 189 | 660 | 724 |
Insurance expense | 126 | 128 | 373 | 374 |
Directors Fees | 239 | 236 | 416 | 405 |
Other operating expenses | 1,103 | 815 | 2,157 | 2,274 |
Total non-interest expense | 7,843 | 7,329 | 21,472 | 21,876 |
Income before income tax expense | 4,899 | 2,916 | 12,240 | 9,169 |
Income tax expense | 792 | 513 | 2,049 | 1,582 |
Net income | $ 4,107 | $ 2,403 | $ 10,191 | $ 7,587 |
Earnings per share | ||||
Basic (in dollars per share) | $ 0.20 | $ 0.12 | $ 0.50 | $ 0.39 |
Diluted (in dollars per share) | 0.20 | 0.12 | 0.50 | 0.39 |
Cash dividends declared per common share (in dollars per share) | $ 0.055 | $ 0.050 | $ 0.165 | $ 0.150 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||||
Basic (in shares) | 20,235,384 | 20,168,529 | 20,199,933 | 19,678,031 |
Diluted (in shares) | 20,235,384 | 20,172,282 | 20,201,289 | 19,683,522 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income | $ 4,107 | $ 2,403 | $ 10,191 | $ 7,587 |
Other comprehensive income: | ||||
Unrealized gains on available-for-sale debt securities | 2,215 | 1,964 | 13,209 | 12,227 |
Taxes | (465) | (412) | (2,774) | (2,567) |
Net of tax amount | 1,750 | 1,552 | 10,435 | 9,660 |
Reclassification adjustment for gains included in net income | (433) | (379) | (1,504) | (702) |
Taxes | 91 | 79 | 316 | 147 |
Net of tax amount | (342) | (300) | (1,188) | (555) |
Derivative adjustments | 14 | 0 | (133) | 0 |
Taxes | (3) | 0 | 28 | 0 |
Net of tax amount | 11 | 0 | (105) | 0 |
Total other comprehensive income | 1,419 | 1,252 | 9,142 | 9,105 |
Comprehensive income | $ 5,526 | $ 3,655 | $ 19,333 | $ 16,692 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - 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, 2018 | 16,821,371 | ||||
Balances at Dec. 31, 2018 | $ 21,026 | $ 63,547 | $ 17,186 | $ (4,540) | $ 97,219 |
Net income for the period | 0 | 0 | 7,587 | 0 | 7,587 |
Cash dividends | 0 | 0 | (3,021) | 0 | (3,021) |
Restricted stock awards | $ 0 | 196 | 0 | 0 | 196 |
Common shares issued under long-term incentive compensation plan (in shares) | 57,118 | ||||
Common shares issued under long-term incentive compensation plan | $ 71 | 79 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 5,453 | 5,453 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 7 | 35 | (19) | 0 | $ 23 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 9,105 | 9,105 |
Common shares issued for capital raise, net (in shares) | 3,285,550 | ||||
Common shares issued for capital raise, net | $ 4,107 | 17,201 | 0 | 0 | 21,308 |
Balances (in shares) at Sep. 30, 2019 | 20,169,492 | ||||
Balances at Sep. 30, 2019 | $ 25,211 | 81,058 | 21,733 | 4,565 | 132,567 |
Balances (in shares) at Jun. 30, 2019 | 20,148,017 | ||||
Balances at Jun. 30, 2019 | $ 25,184 | 80,864 | 20,345 | 3,313 | 129,706 |
Net income for the period | 0 | 0 | 2,403 | 0 | 2,403 |
Cash dividends | 0 | 0 | (1,008) | 0 | (1,008) |
Restricted stock awards | $ 0 | 56 | 0 | 0 | 56 |
Common shares issued under long-term incentive compensation plan (in shares) | 19,560 | ||||
Common shares issued under long-term incentive compensation plan | $ 24 | 126 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 1,915 | 1,907 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 3 | 12 | (7) | 0 | $ 8 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 1,252 | 1,252 |
Balances (in shares) at Sep. 30, 2019 | 20,169,492 | ||||
Balances at Sep. 30, 2019 | $ 25,211 | 81,058 | 21,733 | 4,565 | 132,567 |
Balances (in shares) at Dec. 31, 2019 | 20,171,408 | ||||
Balances at Dec. 31, 2019 | $ 25,214 | 81,130 | 24,207 | 3,056 | 133,607 |
Net income for the period | 0 | 0 | 10,191 | 0 | 10,191 |
Cash dividends | 0 | 0 | (3,334) | 0 | (3,334) |
Restricted stock awards | $ 0 | 259 | 0 | 0 | 259 |
Common shares issued under long-term incentive compensation plan (in shares) | 63,970 | ||||
Common shares issued under long-term incentive compensation plan | $ 80 | 70 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 8,211 | 8,211 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 10 | 41 | (20) | 0 | $ 31 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 9,142 | 9,142 |
Balances (in shares) at Sep. 30, 2020 | 20,243,589 | ||||
Balances at Sep. 30, 2020 | $ 25,304 | 81,500 | 31,044 | 12,198 | 150,046 |
Balances (in shares) at Jun. 30, 2020 | 20,208,607 | ||||
Balances at Jun. 30, 2020 | $ 25,260 | 81,261 | 28,057 | 10,779 | 145,357 |
Net income for the period | 0 | 0 | 4,107 | 0 | 4,107 |
Cash dividends | 0 | 0 | (1,113) | 0 | (1,113) |
Restricted stock awards | $ 0 | 116 | 0 | 0 | 116 |
Common shares issued under long-term incentive compensation plan (in shares) | 32,187 | ||||
Common shares issued under long-term incentive compensation plan | $ 40 | 110 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 2,795 | 2,795 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 4 | 13 | (7) | 0 | $ 10 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 1,419 | 1,419 |
Balances (in shares) at Sep. 30, 2020 | 20,243,589 | ||||
Balances at Sep. 30, 2020 | $ 25,304 | $ 81,500 | $ 31,044 | $ 12,198 | $ 150,046 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Cash dividends declared, per share (in dollars per share) | $ 0.055 | $ 0.050 | $ 0.165 | $ 0.150 |
Other comprehensive income , tax | $ 377 | $ 333 | $ 2,430 | $ 2,420 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 10,191 | $ 7,587 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 615 | 613 |
Equity in trust | (6) | (10) |
Depreciation and amortization | 1,668 | 2,294 |
Valuation adjustment for loan servicing rights | 23 | 6 |
Stock-based compensation expense | 409 | 346 |
Provision for loan and lease losses | 2,056 | 830 |
Valuation adjustment for off-balance sheet commitments | 26 | 245 |
Net gain on the sale of available-for-sale debt securities | (1,504) | (702) |
Net gain on equity securities | (864) | (31) |
Net gain on the sale of mortgage loans held for sale | (465) | (198) |
Net gain on the sale of other real estate owned | 0 | (20) |
Valuation adjustment of other real estate owned | 27 | 14 |
Loss on disposition of bank premises and equipment | 0 | 4 |
Gain on bank-owned life insurance settlement | 0 | (114) |
Income from bank-owned life insurance | (366) | (394) |
Proceeds from the sale of mortgage loans held for sale | 10,962 | 7,271 |
Funds used to originate mortgage loans held for sale | (10,098) | (7,393) |
Decrease in net deferred tax assets | 2,049 | 1,582 |
(Increase) decrease in accrued interest receivable | (1,459) | 576 |
Decrease (increase) in prepaid expenses and other assets | 2,449 | (2,506) |
(Decrease) increase in accrued interest payable | (119) | 63 |
Decrease in accrued expenses and other liabilities | (465) | (491) |
Total adjustments | 4,938 | 1,985 |
Net cash provided by operating activities | 15,129 | 9,572 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale debt securities | 14,410 | 6,454 |
Proceeds from the sale of available-for-sale debt securities | 62,805 | 102,345 |
Proceeds from the sale/transfer of equity securities | 1,223 | 0 |
Purchases of available-for-sale debt securities | (113,181) | (55,819) |
Purchases of equity securities | (500) | 0 |
Redemption (purchase) of the stock in Federal Home Loan Bank of Pittsburgh | 2,013 | (1,071) |
Net increase in loans to customers | (130,853) | (29) |
Proceeds from the sale of other real estate owned | 204 | 769 |
Proceeds received from bank-owned life insurance | 0 | 419 |
Purchases of bank premises and equipment | (1,116) | (3,879) |
Net cash (used in) provided by investing activities | (164,995) | 49,189 |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 270,529 | (131,569) |
(Repayment of) proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | (14,100) | 8,300 |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 20,000 | 62,713 |
Repayment of Federal Home Loan Bank of Pittsburgh advances - term | (52,809) | (10,485) |
Principal reduction on subordinated debentures | 0 | (5,000) |
Proceeds from issuance of common shares, net of discount | 31 | 21,331 |
Cash dividends paid | (3,334) | (3,021) |
Net cash provided by (used in) financing activities | 220,317 | (57,731) |
Net increase in cash and cash equivalents | 70,451 | 1,030 |
Cash and cash equivalents at beginning of period | 34,565 | 36,481 |
Cash and cash equivalents at end of period | 105,016 | 37,511 |
Supplemental cash flow information | ||
Interest | 5,152 | 7,563 |
Other transactions: | ||
Investor loans transferred to OREO | 0 | 256 |
Lease liabilities arising from obtaining right-of-use assets | 16 | 78 |
Equity securities without a readily determinable fair value reclassified to equity securities | $ 1,658 | $ 0 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. The consolidated financial statements of FNCB are comprised of the accounts of FNCB Bancorp, Inc., and its wholly owned subsidiary, FNCB Bank (the “Bank”), as well as the Bank’s wholly owned subsidiaries (collectively, “FNCB”). The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not not three and nine months ended September 30, 2020, may 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. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in FNCB’s audited financial statements, included in the Annual Report filed on Form 10 December 31, 2019 . Risks and Uncertainties Related to COVID- 19 In March 2020, 2019 19" 19 The federal government has taken several actions designed to mitigate the impact of the economic disruption. Specifically, on March 27, 2020, $2.0 19, 19 Business Continuity, Processes and Controls As a financial institution, FNCB is considered essential and has remained open for business and is operating under its pandemic preparedness plan. To ensure the financial needs of its customers are addressed in a safe and consistent manner, the Bank's offices are open for regular business, with administrative, lending and community branch offices adhering to federal, state, and local governmental guidelines and social distancing mandates. However, in order to limit the spread of COVID- 19 September 30, 2020, not nine September 30, 2020 19 . not not Financial Position and Results of Operations Bank regulators have issued guidance and are encouraging banks to work prudently with, and provide short-term payment accommodations to, borrowers affected by COVID- 19. 4013 19 not not 30 December 31, 2019 March 1, 2020, 19 60 December 31, 2020. 4013 19 not six may At September 30, 2020 19 Lending Operations and Credit Risk As previously mentioned, FNCB is working with its lending customers that are facing unemployment, temporary furloughs and closures, by offering a payment deferral program. Generally, FNCB has provided either a short-term interest-only period or full payment deferral depending on the specific need of the borrower. As of September 30, 2020 , 4013 not The CARES Act includes a Paycheck Protection Program ("PPP"), a program administered by the Small Business Administration ("SBA") designed to aid small- and medium-sized businesses through federally guaranteed loans distributed through banks. These loans were originally intended to guarantee eight June 5, 2020, eight 24 September 30, 2020 August 8, 2020, no September 30, 2020, September 30, 2020, not Additionally, the Federal Reserve Bank established the Main Street Lending Program to support lending to small and mid-sized businesses and not 19 five $600 three 19 $250 $300 three 95.0%, 5.0%, 5 two one one three 300 not $250 $10 three September 30, 2020 two 5.0% third As the fallout of the COVID- 19 may may third March 31, 2020 19 19 |
Note 2 - New Authoritative Acco
Note 2 - New Authoritative Accounting Guidance | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 2. New Authoritative Accounting Guidance 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. 2016 13 not 1 2 3 4 may Refer to Note 2 2019 10 |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3. 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 September 30, 2020 December 31, 2019 : September 30, 2020 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 $ 181,118 $ 10,946 $ 101 $ 191,963 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 50,897 3,616 19 54,494 Collateralized mortgage obligations - commercial 2,012 186 - 2,198 Mortgage-backed securities 10,488 635 - 11,123 Private collateralized mortgage obligations 32,541 264 76 32,729 Corporate debt securities 18,800 265 65 19,000 Asset-backed securities 9,970 13 91 9,892 Negotiable certificates of deposit - - - - Total available-for-sale debt securities $ 305,826 $ 15,925 $ 352 $ 321,399 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 Except for securities of U.S. government and government-sponsored agencies, there were no securities of any individual issuer that exceeded 10.0% September 30, 2020 December 31, 2019 At September 30, 2020 December 31, 2019 The following table presents the maturity information of FNCB’s available-for-sale debt securities at September 30, 2020 . may not not September 30, 2020 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 4,510 $ 4,573 After one year through five years 56,534 60,632 After five years through ten years 42,620 44,604 After ten years 96,254 101,154 Asset-backed securities 9,970 9,892 Collateralized mortgage obligations 85,450 89,421 Mortgage-backed securities 10,488 11,123 Total available-for-sale debt securities $ 305,826 $ 321,399 The following table presents the gross proceeds received and gross realized gains and losses on sales of available-for-sale debt securities for the three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Available-for-sale debt securities: Gross proceeds received on sales $ 10,917 $ 41,073 $ 62,805 $ 102,345 Gross realized gains 474 383 1,650 732 Gross realized losses (41 ) (4 ) (146 ) (30 ) The following tables present the number, fair value and gross unrealized losses of available-for-sale debt securities with unrealized losses at September 30, 2020 December 31, 2019, September 30, 2020 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 13 $ 10,851 $ 101 - $ - $ - 13 $ 10,851 $ 101 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 1 1,999 19 - - - 1 1,999 19 Collateralized mortgage obligations - commercial - - - - - - - - - Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 7,496 76 - - - 4 7,496 76 Corporate debt securities 4 4,935 65 - - - 4 4,935 65 Asset-backed securities 6 5,606 91 - - - 6 5,606 91 Negotiable certificates of deposit - - - - - - - - - Total available-for-sale debt securities 28 $ 30,887 $ 352 - $ - $ - 28 $ 30,887 $ 352 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 available-for-sale debt securities 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 Management evaluates individual securities in an unrealized loss position quarterly for other than temporary impairment (“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 28 September 30, 2020 , September 30, 2020 19 no may September 30, 2020 . not not not September 30, 2020 . Equity Securities and Equity Securities without Readily Determinable Fair Values At December 31, 2019, 2017 1933, not not $1.7 December 31, 2019. On December 18, 2019, July 1, 2020. July 1, 2020 On September 15, 2020, FNCB’s considers its investments in common and preferred shares of the bank holding companies discussed above to be equity securities with a readily determinable fair values and therefore reports these securities at fair value on the consolidated statements of financial condition with unrealized gains and losses recognized in non-interest income in the consolidated statements of income. At September 30, 2020, three nine September 30, 2020. September 30, 2020, three nine September 30, 2020. Also included in equity securities at September 30, 2020 December 31, 2019, 1 4 September 30, 2020 December 31, 2019. three September 30, 2020 nine September 30, 2020. The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the three nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Net gains (losses) recognized on equity securities $ 846 $ 5 $ 864 $ 31 Less: net gains (losses) recognized on equity securities sold or transferred 1,133 - 1,133 - Unrealized gains (losses) on equity securities held $ (287 ) $ 5 $ (269 ) $ 31 Restricted Securities The following table presents FNCB's investment in restricted stock at September 30, 2020 December 31, 2019 September 30, December 31, (in thousands) 2020 2019 Stock in Federal Home Loan Bank of Pittsburgh $ 1,781 $ 3,794 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 1,791 $ 3,804 Management noted no September 30, 2020 December 31, 2019 . |
Note 4 - Loans
Note 4 - Loans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. The following table summarizes loans receivable, net, by category at September 30, 2020 December 31, 2019 : September 30, December 31, (in thousands) 2020 2019 Residential real estate $ 174,020 $ 170,723 Commercial real estate 296,281 278,379 Construction, land acquisition and development 50,934 47,484 Commercial and industrial 285,693 147,623 Consumer 110,636 138,239 State and political subdivisions 45,738 43,908 Total loans, gross 963,302 826,356 Unearned income (118 ) (69 ) Net deferred loan (fees) costs (2,955 ) 2,192 Allowance for loan and lease losses (12,269 ) (8,950 ) Loans, net $ 947,960 $ 819,529 Included in commercial and industrial loans at September 30, 2020 September 30, 2020 100.0% may no September 30, 2020 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 9 FNCB originates 1 4 three nine September 30, 2020 , the principal balance of 1-4 three nine September 30, 2019 1 4 three nine September 30, 2020 , 2019. September 30, 2020 December 31, 2019 , 1 4 There were no three nine September 30, 2020 2019 September 30, 2020 December 31, 2019 . FNCB does not There were no nine September 30, 2020 . 2, 2019 10 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 19 September 30, 2020 may may may The following table summarizes activity in the ALLL by loan category for the three nine September 30, 2020 2019 Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total Three months ended September 30, 2020 Allowance for loan losses: Beginning balance, July 1, 2020 $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Charge-offs - (280 ) - (81 ) (221 ) - - (582 ) Recoveries 3 845 - 726 179 - - 1,753 Provisions (credits) 193 307 53 (634 ) 2 40 113 74 Ending balance, September 30, 2020 $ 1,547 $ 4,814 $ 413 $ 2,354 $ 1,649 $ 377 $ 1,115 $ 12,269 Three months ended September 30, 2019 Allowance for loan losses: Beginning balance, July 1, 2019 $ 1,152 $ 3,429 $ 178 $ 2,071 $ 1,839 $ 211 $ 65 $ 8,945 Charge-offs - - - (216 ) (201 ) - - (417 ) Recoveries 1 - 1 58 90 - - 150 Provisions (credits) 5 422 47 78 68 5 12 637 Ending balance, September 30, 2019 $ 1,158 $ 3,851 $ 226 $ 1,991 $ 1,796 $ 216 $ 77 $ 9,315 Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Charge-offs - (336 ) - (208 ) (683 ) - - (1,227 ) Recoveries 42 846 - 1,210 392 - - 2,490 Provisions (credits) 358 1,106 142 (645 ) 282 124 689 2,056 Ending balance, September 30, 2020 $ 1,547 $ 4,814 $ 413 $ 2,354 $ 1,649 $ 377 $ 1,115 $ 12,269 Nine months ended September 30, 2019 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 ) (976 ) (973 ) - - (1,994 ) Recoveries 7 14 82 265 592 - - 960 Provisions (credits) 3 730 (26 ) 150 126 (201 ) 48 830 Ending balance, September 30, 2019 $ 1,158 $ 3,851 $ 226 $ 1,991 $ 1,796 $ 216 $ 77 $ 9,315 The following table presents, by loan category, the allocation of the ALLL and the related loan balance disaggregated based on the impairment methodology at September 30, 2020 December 31, 2019 : Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total September 30, 2020 Allowance for loan losses: Individually evaluated for impairment $ 12 $ 367 $ - $ 29 $ 1 $ - $ - $ 409 Collectively evaluated for impairment 1,535 4,447 413 2,325 1,648 377 1,115 11,860 Total $ 1,547 $ 4,814 $ 413 $ 2,354 $ 1,649 $ 377 $ 1,115 $ 12,269 Loans receivable: Individually evaluated for impairment $ 2,202 $ 9,064 $ 71 $ 943 $ 275 $ - $ - $ 12,555 Collectively evaluated for impairment 171,818 287,217 50,863 284,750 110,361 45,738 - 950,747 Total $ 174,020 $ 296,281 $ 50,934 $ 285,693 $ 110,636 $ 45,738 $ - $ 963,302 December 31, 2019 Allowance for loan losses: Individually evaluated for impairment $ 9 $ 221 $ - $ 242 $ 1 $ - $ - $ 473 Collectively evaluated for impairment 1,138 2,977 271 1,755 1,657 253 426 8,477 Total $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 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 $ 170,723 $ 278,379 $ 47,484 $ 147,623 $ 138,239 $ 43,908 $ - $ 826,356 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 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. Minimal Risk 2. Above Average Credit Quality 3. Average Risk 4. Acceptable Risk 5. Pass - Watch 6. Special Mention 7. Substandard - Accruing 8. Substandard - Non-Accrual 9. Doubtful 10. Loss 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, commercial and municipal indirect auto loans are monitored on a pool basis due to their homogeneous nature. Loans that are delinquent 90 days or more are placed on non-accrual status unless collection of the loan is in process and reasonably assured. FNCB utilizes accruing versus non-accrual status as the credit quality indicator for these loan pools. The following tables present the recorded investment in loans receivable by loan category and credit quality indicator at September 30, 2020 December 31, 2019 : Credit Quality Indicators September 30, 2020 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 32,391 $ 250 $ 251 $ - $ - $ 32,892 $ 140,211 $ 917 $ 141,128 $ 174,020 Commercial real estate 280,114 2,370 13,797 - - 296,281 - - - 296,281 Construction, land acquisition and development 47,696 - - - - 47,696 3,238 - 3,238 50,934 Commercial and industrial 280,802 462 1,159 - - 282,423 3,270 - 3,270 285,693 Consumer 3,855 - - - - 3,855 106,186 595 106,781 110,636 State and political subdivisions 45,726 - - - - 45,726 12 - 12 45,738 Total $ 690,584 $ 3,082 $ 15,207 $ - $ - $ 708,873 $ 252,917 $ 1,512 $ 254,429 $ 963,302 Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) 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 $ - $ - $ 546,961 $ 277,413 $ 1,982 $ 279,395 $ 826,356 Loans classified as substandard were $15.2 million at September 30, 2020 December 31, 2019, one three June 30, 2020 three September 30, 2020. 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 $6.2 million and $9.1 million at September 30, 2020 December 31, 2019 , six no may may 90 no 90 September 30, 2020 December 31, 2019 . The following tables present the delinquency status of past due and non-accrual loans at September 30, 2020 December 31, 2019 : September 30, 2020 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 $ 172,491 $ 388 $ 12 $ - $ 172,891 Commercial real estate 292,459 - - - 292,459 Construction, land acquisition and development 50,934 - - - 50,934 Commercial and industrial 285,058 5 1 - 285,064 Consumer 108,836 934 270 - 110,040 State and political subdivisions 45,738 - - - 45,738 Total performing (accruing) loans 955,516 1,327 283 - 957,126 Non-accrual loans: Residential real estate 459 34 - 636 1,129 Commercial real estate 1,535 - - 2,287 3,822 Construction, land acquisition and development - - - - - Commercial and industrial 599 - - 30 629 Consumer 345 59 93 99 596 State and political subdivisions - - - - - Total non-accrual loans 2,938 93 93 3,052 6,176 Total loans receivable $ 958,454 $ 1,420 $ 376 $ 3,052 $ 963,302 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 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, September 30, 2020 December 31, 2019 . $100 not not 450. $100 450 September 30, 2020 December 31, 2019 , respectively. September 30, 2020 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 885 $ 973 $ - Commercial real estate 2,597 4,115 - Construction, land acquisition and development 71 71 - Commercial and industrial 513 527 - Consumer 108 115 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 4,174 5,801 - With a related allowance recorded: Residential real estate 1,317 1,317 12 Commercial real estate 6,467 7,498 367 Construction, land acquisition and development - - - Commercial and industrial 430 648 29 Consumer 167 167 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 8,381 9,630 409 Total impaired loans: Residential real estate 2,202 2,290 12 Commercial real estate 9,064 11,613 367 Construction, land acquisition and development 71 71 - Commercial and industrial 943 1,175 29 Consumer 275 282 1 State and political subdivisions - - - Total impaired loans $ 12,555 $ 15,431 $ 409 December 31, 2019 Unpaid Recorded 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 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 The following table presents the average balance and interest income by loan category recognized on impaired loans for the three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Average Interest Average Interest Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Balance Income (1) Balance Income (1) Residential real estate $ 2,196 $ 16 $ 2,193 $ 21 $ 2,375 $ 56 $ 1,970 $ 62 Commercial real estate 9,273 59 9,012 73 10,525 197 9,290 226 Construction, land acquisition and development 72 2 78 1 73 4 80 4 Commercial and industrial 1,000 4 861 - 1,083 10 1,082 1 Consumer 276 2 198 2 250 5 259 9 State and political subdivisions - - - - - - - - Total impaired loans $ 12,817 $ 83 $ 12,342 $ 97 $ 14,306 $ 272 $ 12,681 $ 302 ( 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 $77 thousand and $282 thousand, respectively, for the three nine September 30, 2020 three nine September 30, 2019 Troubled Debt Restructured Loans TDRs were $7.8 million and $9.1 million at September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 not September 30, 2020 The modification of the terms of loans classified as TDRs may one There were no three September 30, 2020. nine September 30, 2020 three one three During the three September 30, 2019, $261 nine September 30, 2019, During the three nine September 30, 2020, no 12 90 no 12 three September 30, 2019. nine September 30, 2019, 12 one $103 Modifications Related to COVID- 19 In late March 2020, 19. 4013 19 December 31, 2019 not September 30, 2020. three 19 860 second September 30, 2020, The following table presents information about COVID- 19 September 30, 2020 As of September 30, 2020 Total Loans Modified Total Number of Loans Still Under Deferral (in thousands) Number of Loans Recorded Investment % of Loan Category Number of Loans Recorded Investment % of Loan Category COVID-19 related loan modifications: Residential real estate 201 $ 18,951 10.89 % 2 $ 54 0.03 % Commercial real estate 159 113,245 38.22 % 7 7,860 2.65 % Construction, land acquisition and development 12 11,340 22.26 % - - - Commercial and industrial 101 22,748 7.96 % - - - Consumer 387 7,283 6.58 % 7 107 0.10 % State and political subdivision - - - - - - Total 860 $ 173,567 18.02 % 16 8,021 0.83 % Residential Real Estate Loan Foreclosures There were no three nine September 30, 2020 September 30, 2020 There were two September 30, 2019 one three nine September 30, 2019 nine September 30, 2019, September 30, 2019 |
Note 5 - Deposits
Note 5 - Deposits | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 5 The following table presents deposits by major category at September 30, 2020 December 31, 2019 : September 30, December 31, (in thousands) 2020 2019 Demand (non-interest bearing) $ 274,110 $ 179,465 Interest-bearing: Interest-bearing demand 693,031 534,677 Savings 107,868 94,530 Time ($250,000 and over) 40,334 48,425 Other time 156,895 144,612 Total interest-bearing 998,128 822,244 Total deposits $ 1,272,238 $ 1,001,709 Total deposits were $1.272 billion at September 30, 2020 December 31, 2019 $250,000 September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 19 |
Note 6 - Borrowings
Note 6 - Borrowings | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 6 . Borrowings FNCB has an agreement with the Federal Home Loan Bank (“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. In addition to pledging loans, FNCB is required to purchase FHLB of Pittsburgh stock based upon the amount of credit extended. Loans that were pledged to collateralize borrowings under this agreement were $499.6 million at September 30, 2020 December 31, 2019 September 30, 2020 September 30, 2020 September 30, 2020 Advances through the Federal Reserve Bank Discount Window generally include short-term advances which are fully collateralized by certain pledged loans in the amount of $36.2 million under the Federal Reserve Bank’s Borrower-in-Custody (“BIC”) program. There were no advances under the BIC program outstanding at September 30, 2020 December 31, 2019 September 30, 2020 At September 30, 2020 April 9, 2020 September 30, 2020, June 30, 2020, three September 30, 2020. September 30, 2020 September 30, December 31, (in thousands) 2020 2019 Federal Reserve Discount Window advances $ - $ - FHLB of Pittsburgh advances: Overnight advances - 14,100 Term advances - 32,809 Subtotal FHLB of Pittsburgh advances - 46,909 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 10,310 $ 57,219 |
Note 7 - Derivative and Hedging
Note 7 - Derivative and Hedging Transactions/Subsequent Event | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 7. Risk Management Objective of Using Derivatives FNCB is exposed to certain risks arising from both its business operations and economic conditions. It principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. FNCB manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, FNCB enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Derivative financial instruments are used to manage differences in the amount, timing, and duration of known or expected cash receipts and its known or expected cash payments principally related to FNCB's borrowings. Cash Flow Hedges of Interest Rate Risk FNCB’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, FNCB primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for FNCB making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During 2020, For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on FNCB’s variable-rate debt. During 2020, Non-designated Hedges Derivatives not not third not September 30, 2020, not October 1, 2020, two Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of FNCB’s derivative financial instruments and the classification on the consolidated statements of financial condition at September 30, 2020 December 31, 2019 Derivative Assets Derivative Liabilities September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 (in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate products $ - Other assets $ - Other assets $ - $ 30,000 Other liabilities $ 139 Other liabilities $ - Total derivatives designated as hedging instruments - - 139 - Cash and other collateral (1) - - - - Net derivative amounts $ - $ - $ 139 $ - ( 1 not Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income The table below presents the effect of fair value and cash flow hedge accounting on Accumulated Other Comprehensive Income as of September 30, 2020 not Three Months Ended September 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ 5 $ 5 $ - Interest expense $ (10 ) $ (10 ) $ - Total $ 5 $ 5 $ - $ (10 ) $ (10 ) $ - Nine Months Ended September 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ (107 ) $ (107 ) $ - Interest expense $ 25 $ 25 $ - Total $ (107 ) $ (107 ) $ - $ 25 $ 25 $ - Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income There were no nine September 30, 2019 three nine September 30, 2020 Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 (in thousands) Interest Expense Interest Expense Total amounts of income and expense line items presented in the cash flow statement of financial performance in which the effects of fair value or hedges are recorded $ (10 ) $ 25 The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 Interest contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income $ (10 ) $ 25 Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring $ - $ - Amount of gain or (loss) reclassified from accumulated OCI into income - included component $ (10 ) $ 25 Amount of gain or (loss) reclassified from accumulated OCI into income - excluded component $ - $ - Credit-risk-related Contingent Features FNCB has agreements with each of its derivative counterparties that contain a provision where if FNCB defaults or is capable of being declared in default on any of its indebtedness, then it could also be declared in default on its derivative obligations. FNCB has agreements with certain of its derivative counterparties that contain a provision where if it fails to maintain its status as a well-capitalized institution, then it could be required to post additional collateral. As of September 30, 2020 September 30, 2020 not September 30, 2020 . |
Note 8 - Income Taxes
Note 8 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8. 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% for the three nine September 30, 2020 2019 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,029 21.00 % $ 612 21.00 % $ 2,570 21.00 % $ 1,925 21.00 % Add (deduct): Tax effects of tax free interest income (179 ) (3.65 )% (75 ) (2.57 )% (450 ) (3.68 )% (259 ) (2.82 )% Non-deductible interest expense 5 0.10 % 4 0.13 % 14 0.11 % 11 0.12 % Bank-owned life insurance (25 ) (0.51 )% (28 ) (0.96 )% (77 ) (0.63 )% (83 ) (0.91 )% Other items, net (38 ) (0.77 )% - 0.00 % (8 ) (0.06 )% (12 ) (0.13 )% Income tax provision $ 792 16.17 % $ 513 17.60 % $ 2,049 16.74 % $ 1,582 17.26 % FNCB's deferred tax assets, net of deferred tax liabilities, were $1.8 million at September 30, 2020 December 31, 2019 September 30, 2020 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 not not not Management performed an evaluation of FNCB’s deferred tax assets at September 30, 2020 not September 30, 2020 December 31, 2019 . |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 9. 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 three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 93,573 $ 78,752 $ 77,896 $ 64,634 Additions, new loans and advances 17,424 41,499 48,120 70,592 Repayments (7,504 ) (25,484 ) (22,523 ) (40,459 ) Balance, end of period $ 103,493 $ 94,767 $ 103,493 $ 94,767 At September 30, 2020 not Deposits from directors, executive officers and their related parties held by the Bank at September 30, 2020 December 31, 2019 nine September 30, 2020 2019 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 three nine September 30, 2020 2019. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10 . Commitments and Contingencies 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 our 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 borrowing 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 September 30, 2020 one nine September 30, 2020 nine September 30, 2019, three The following table summarizes the components of FNCB's operating lease expense for the three nine September 30, 2020 2019 (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost - bank branches $ 81 $ 86 $ 258 $ 257 Operating lease cost - automobiles and equipment 11 8 31 16 Short-term lease cost - office space 5 9 23 33 Short-term lease cost - automobiles and equipment - 1 - 6 Variable lease cost - - - - Total lease cost $ 97 $ 104 $ 312 $ 312 The following table summarizes the maturity of remaining operating lease liabilities as of September 30, 2020 (in thousands) September 30, 2020 2020 $ 86 2021 361 2022 331 2023 323 2024 287 2025 and thereafter 2,813 Total lease payments 4,201 Less: imputed interest 931 Present value of operating lease liabilities $ 3,270 The following table presents other information related to our operating leases: (dollars in thousands) September 30, 2020 Weighted-average remaining lease term 13.86 years Weighted-average discount rate 3.47 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 306 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 11 - Stock Compensation Pl
Note 11 - Stock Compensation Plans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 11 . Stock Compensation Plans FNCB has a Long-Term Incentive Compensation Plan (“LTIP”) for directors, executives and key employees. The LTIP authorizes up to 1,200,000 shares of common stock for issuance and provides the Board of Directors with the authority to offer several different types of long-term incentives, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares. During the nine September 30, 2020 2019 September 30, 2020 , nine September 30, 2020 2019 September 30, 2020 2019 On July 1, 2020, ten July 1, 2020. The following table summarizes the activity related to FNCB’s unvested restricted stock awards during the three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Restricted Grant Date (dollars in thousands) Shares Fair Value Shares Fair Value Shares Fair Value Shares Fair Value Unvested restricted stock awards: Total outstanding, beginning of period 169,632 $ 7.04 134,047 $ 7.75 128,150 $ 7.76 114,702 $ 7.50 Awards granted - - - - 75,924 6.07 57,684 7.64 Forfeitures (2,753 ) 7.08 (5,897 ) 7.61 (5,412 ) 6.67 (6,678 ) 7.61 Vestings (6,637 ) 6.44 - - (38,420 ) 7.48 (37,558 ) 6.80 Total outstanding, end of period 160,242 $ 7.06 128,150 $ 7.76 160,242 $ 7.06 128,150 $ 7.76 |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 12 . Regulatory Matters On January 28, 2019, February 8, 2019 first 2019, 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 three nine September 30, 2020 three nine September 30, 2019 three nine September 30, 2020 2019 d three nine September 30, 2020 2019 2019. September 30, 2020 October 28 , 2020, fourth 2020 December 15 , 2020 December 1, 2020. In 2018, $1 $3 September 30, 2020 December 31, 2019 2.500% 2020 2019. September 30, 2020 December 31, 2019 Current quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the tables 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 September 30, 2020 December 31, 2019 : 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 September 30, 2020 Total capital (to risk-weighted assets) $ 152,467 16.09 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 140,608 14.84 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 140,608 14.84 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 140,608 10.17 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 947,544 Total average assets 1,382,109 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 % 4.00 % 5.00 % Total risk-weighted assets 903,172 Total average assets 1,194,789 |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 13 . Fair Value Measurements 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 three ● Level 1 ● Level 2 not ● Level 3 not A description of the valuation methodologies used for assets recorded at fair value is set forth below. 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 September 30, 2020 twelve eight twelve September 30, 2020 not not third 3 third Equity Securities The estimated fair values of equity securities are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 Derivative Contracts FNCB's derivative liabilities are reported at fair value utilizing Level 2 may Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present the financial assets and liabilities that were measured at fair value on a recurring basis at September 30, 2020 December 31, 2019 , Fair Value Measurements at September 30, 2020 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Available-for-sale debt securities: Obligations of state and political subdivisions $ 191,963 $ - $ 191,963 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 54,494 - 54,494 - Collateralized mortgage obligations - commercial 2,198 - 2,198 - Mortgage-backed securities 11,123 - 11,123 - Private collateralized mortgage obligations 32,729 - 32,729 - Corporate debt securities 19,000 - 5,043 13,957 Asset-backed securities 9,892 - 9,892 - Negotiable certificates of deposit - - - - Subtotal available-for-sale debt securities 321,399 - 307,442 13,957 Equity securities, at fair value 2,719 2,719 - - Total $ 324,118 $ 2,719 $ 307,442 $ 13,957 Financial liabilities: Derivative liabilities $ 139 $ - $ 139 $ - Total $ 139 $ - $ 139 $ - Fair Value Measurements at December 31, 2019 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Financial assets: 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 - Subtotal available-for-sale debt securities 272,839 - 267,689 5,150 Equity securities, at fair value 920 920 - - Total $ 273,759 $ 920 $ 267,689 $ 5,150 There were no nine September 30, 2020 2019 The following table presents a reconciliation and statement of operations classifications of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3 nine September 30, 2020 2019 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities For the Nine Months Ended September 30, (in thousands) 2020 2019 Balance at January 1, $ 5,150 $ 3,929 Additions 8,800 1,000 Payments Received - - Sales - - Total gains or losses (realized/unrealized): Included in earnings - - Included in other comprehensive income 7 132 Balance at September 30, $ 13,957 $ 5,061 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 September 30, 2020 December 31, 2019 , 3 September 30, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 7,506 $ 127 $ 7,379 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 5,049 282 4,767 Discounted cash flows Discount rate 2.30% 8.75% Other real estate owned 85 27 58 Appraisal of collateral Selling cost 10.0 % 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 cost 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 cost 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 using an exit price notion at September 30, 2020 December 31, 2019 . not not not may Fair Value September 30, 2020 December 31, 2019 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 105,016 $ 105,016 $ 34,565 $ 34,565 Available-for-sale debt securities See previous table 321,399 321,399 272,839 272,839 Equity securities, at fair value Level 1 2,719 2,719 920 920 Restricted stock Level 2 1,791 1,791 3,804 3,804 Loans held for sale Level 2 662 662 1,061 1,061 Loans, net Level 3 947,960 952,169 819,529 810,074 Accrued interest receivable Level 2 4,693 4,693 3,234 3,234 Servicing rights Level 3 330 595 356 790 Financial liabilities Deposits Level 2 1,272,238 1,272,696 1,001,709 1,001,829 Borrowed funds Level 2 10,310 10,310 57,219 57,234 Accrued interest payable Level 2 139 139 258 258 Derivative liabilities Level 2 139 139 - - |
Note 14 - Earnings Per Share
Note 14 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 14 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. For the three nine September 30, 2020 2019 The following table presents the calculation of both basic and diluted earnings per share of common stock for the three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share data) 2020 2019 2020 2019 Net income $ 4,107 $ 2,403 $ 10,191 $ 7,587 Basic weighted-average number of common shares outstanding 20,235,384 20,168,529 20,199,933 19,678,031 Plus: Common share equivalents - 3,753 1,356 5,491 Diluted weighted-average number of common shares outstanding 20,235,384 20,172,282 20,201,289 19,683,522 Income per common share: Basic $ 0.20 $ 0.12 $ 0.50 $ 0.39 Diluted $ 0.20 $ 0.12 $ 0.50 $ 0.39 |
Note 15 - Other Comprehensive I
Note 15 - Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 15 . The following table summarizes the reclassifications out of accumulated other comprehensive income for the three and nine months ended September 30, 2020 and 2019, For the Three Months Ended September 30, 2020 For the Nine Months Ended September 30, 2020 (in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (433 ) Net gain on the sale of available-for-sale debt securities $ (1,504 ) Net gain on the sale of available-for-sale debt securities Taxes 91 Income taxes 316 Income taxes Net of tax amount $ (342 ) $ (1,188 ) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 (in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (379 ) Net gain on the sale of available-for-sale debt securities $ (702 ) Net gain on the sale of available-for-sale debt securities Taxes 79 Income taxes 147 Income taxes Net of tax amount $ (300 ) $ (555 ) The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax for the three nine September 30, 2020 2019 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 10,779 $ 3,313 $ 3,056 $ (4,540 ) Other comprehensive income before reclassifications 1,761 1,552 10,330 9,660 Amount reclassified from accumulated other comprehensive income (342 ) (300 ) (1,188 ) (555 ) Net other comprehensive income during the period 1,419 1,252 9,142 9,105 Balance, end of period $ 12,198 $ 4,565 $ 12,198 $ 4,565 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2020 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 $ 181,118 $ 10,946 $ 101 $ 191,963 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 50,897 3,616 19 54,494 Collateralized mortgage obligations - commercial 2,012 186 - 2,198 Mortgage-backed securities 10,488 635 - 11,123 Private collateralized mortgage obligations 32,541 264 76 32,729 Corporate debt securities 18,800 265 65 19,000 Asset-backed securities 9,970 13 91 9,892 Negotiable certificates of deposit - - - - Total available-for-sale debt securities $ 305,826 $ 15,925 $ 352 $ 321,399 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 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2020 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 4,510 $ 4,573 After one year through five years 56,534 60,632 After five years through ten years 42,620 44,604 After ten years 96,254 101,154 Asset-backed securities 9,970 9,892 Collateralized mortgage obligations 85,450 89,421 Mortgage-backed securities 10,488 11,123 Total available-for-sale debt securities $ 305,826 $ 321,399 |
Gain (Loss) on Securities [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Available-for-sale debt securities: Gross proceeds received on sales $ 10,917 $ 41,073 $ 62,805 $ 102,345 Gross realized gains 474 383 1,650 732 Gross realized losses (41 ) (4 ) (146 ) (30 ) Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Net gains (losses) recognized on equity securities $ 846 $ 5 $ 864 $ 31 Less: net gains (losses) recognized on equity securities sold or transferred 1,133 - 1,133 - Unrealized gains (losses) on equity securities held $ (287 ) $ 5 $ (269 ) $ 31 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2020 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 13 $ 10,851 $ 101 - $ - $ - 13 $ 10,851 $ 101 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 1 1,999 19 - - - 1 1,999 19 Collateralized mortgage obligations - commercial - - - - - - - - - Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 7,496 76 - - - 4 7,496 76 Corporate debt securities 4 4,935 65 - - - 4 4,935 65 Asset-backed securities 6 5,606 91 - - - 6 5,606 91 Negotiable certificates of deposit - - - - - - - - - Total available-for-sale debt securities 28 $ 30,887 $ 352 - $ - $ - 28 $ 30,887 $ 352 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 available-for-sale debt securities 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 |
Investment [Table Text Block] | September 30, December 31, (in thousands) 2020 2019 Stock in Federal Home Loan Bank of Pittsburgh $ 1,781 $ 3,794 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 1,791 $ 3,804 |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, (in thousands) 2020 2019 Residential real estate $ 174,020 $ 170,723 Commercial real estate 296,281 278,379 Construction, land acquisition and development 50,934 47,484 Commercial and industrial 285,693 147,623 Consumer 110,636 138,239 State and political subdivisions 45,738 43,908 Total loans, gross 963,302 826,356 Unearned income (118 ) (69 ) Net deferred loan (fees) costs (2,955 ) 2,192 Allowance for loan and lease losses (12,269 ) (8,950 ) Loans, net $ 947,960 $ 819,529 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total Three months ended September 30, 2020 Allowance for loan losses: Beginning balance, July 1, 2020 $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Charge-offs - (280 ) - (81 ) (221 ) - - (582 ) Recoveries 3 845 - 726 179 - - 1,753 Provisions (credits) 193 307 53 (634 ) 2 40 113 74 Ending balance, September 30, 2020 $ 1,547 $ 4,814 $ 413 $ 2,354 $ 1,649 $ 377 $ 1,115 $ 12,269 Three months ended September 30, 2019 Allowance for loan losses: Beginning balance, July 1, 2019 $ 1,152 $ 3,429 $ 178 $ 2,071 $ 1,839 $ 211 $ 65 $ 8,945 Charge-offs - - - (216 ) (201 ) - - (417 ) Recoveries 1 - 1 58 90 - - 150 Provisions (credits) 5 422 47 78 68 5 12 637 Ending balance, September 30, 2019 $ 1,158 $ 3,851 $ 226 $ 1,991 $ 1,796 $ 216 $ 77 $ 9,315 Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Charge-offs - (336 ) - (208 ) (683 ) - - (1,227 ) Recoveries 42 846 - 1,210 392 - - 2,490 Provisions (credits) 358 1,106 142 (645 ) 282 124 689 2,056 Ending balance, September 30, 2020 $ 1,547 $ 4,814 $ 413 $ 2,354 $ 1,649 $ 377 $ 1,115 $ 12,269 Nine months ended September 30, 2019 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 ) (976 ) (973 ) - - (1,994 ) Recoveries 7 14 82 265 592 - - 960 Provisions (credits) 3 730 (26 ) 150 126 (201 ) 48 830 Ending balance, September 30, 2019 $ 1,158 $ 3,851 $ 226 $ 1,991 $ 1,796 $ 216 $ 77 $ 9,315 Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total September 30, 2020 Allowance for loan losses: Individually evaluated for impairment $ 12 $ 367 $ - $ 29 $ 1 $ - $ - $ 409 Collectively evaluated for impairment 1,535 4,447 413 2,325 1,648 377 1,115 11,860 Total $ 1,547 $ 4,814 $ 413 $ 2,354 $ 1,649 $ 377 $ 1,115 $ 12,269 Loans receivable: Individually evaluated for impairment $ 2,202 $ 9,064 $ 71 $ 943 $ 275 $ - $ - $ 12,555 Collectively evaluated for impairment 171,818 287,217 50,863 284,750 110,361 45,738 - 950,747 Total $ 174,020 $ 296,281 $ 50,934 $ 285,693 $ 110,636 $ 45,738 $ - $ 963,302 December 31, 2019 Allowance for loan losses: Individually evaluated for impairment $ 9 $ 221 $ - $ 242 $ 1 $ - $ - $ 473 Collectively evaluated for impairment 1,138 2,977 271 1,755 1,657 253 426 8,477 Total $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 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 $ 170,723 $ 278,379 $ 47,484 $ 147,623 $ 138,239 $ 43,908 $ - $ 826,356 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators September 30, 2020 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 32,391 $ 250 $ 251 $ - $ - $ 32,892 $ 140,211 $ 917 $ 141,128 $ 174,020 Commercial real estate 280,114 2,370 13,797 - - 296,281 - - - 296,281 Construction, land acquisition and development 47,696 - - - - 47,696 3,238 - 3,238 50,934 Commercial and industrial 280,802 462 1,159 - - 282,423 3,270 - 3,270 285,693 Consumer 3,855 - - - - 3,855 106,186 595 106,781 110,636 State and political subdivisions 45,726 - - - - 45,726 12 - 12 45,738 Total $ 690,584 $ 3,082 $ 15,207 $ - $ - $ 708,873 $ 252,917 $ 1,512 $ 254,429 $ 963,302 Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) 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 $ - $ - $ 546,961 $ 277,413 $ 1,982 $ 279,395 $ 826,356 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2020 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 $ 172,491 $ 388 $ 12 $ - $ 172,891 Commercial real estate 292,459 - - - 292,459 Construction, land acquisition and development 50,934 - - - 50,934 Commercial and industrial 285,058 5 1 - 285,064 Consumer 108,836 934 270 - 110,040 State and political subdivisions 45,738 - - - 45,738 Total performing (accruing) loans 955,516 1,327 283 - 957,126 Non-accrual loans: Residential real estate 459 34 - 636 1,129 Commercial real estate 1,535 - - 2,287 3,822 Construction, land acquisition and development - - - - - Commercial and industrial 599 - - 30 629 Consumer 345 59 93 99 596 State and political subdivisions - - - - - Total non-accrual loans 2,938 93 93 3,052 6,176 Total loans receivable $ 958,454 $ 1,420 $ 376 $ 3,052 $ 963,302 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 |
Impaired Financing Receivables [Table Text Block] | September 30, 2020 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 885 $ 973 $ - Commercial real estate 2,597 4,115 - Construction, land acquisition and development 71 71 - Commercial and industrial 513 527 - Consumer 108 115 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 4,174 5,801 - With a related allowance recorded: Residential real estate 1,317 1,317 12 Commercial real estate 6,467 7,498 367 Construction, land acquisition and development - - - Commercial and industrial 430 648 29 Consumer 167 167 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 8,381 9,630 409 Total impaired loans: Residential real estate 2,202 2,290 12 Commercial real estate 9,064 11,613 367 Construction, land acquisition and development 71 71 - Commercial and industrial 943 1,175 29 Consumer 275 282 1 State and political subdivisions - - - Total impaired loans $ 12,555 $ 15,431 $ 409 December 31, 2019 Unpaid Recorded 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 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 |
Schedule of Average Balance and Interest Income on Impaired Loans [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Average Interest Average Interest Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Balance Income (1) Balance Income (1) Residential real estate $ 2,196 $ 16 $ 2,193 $ 21 $ 2,375 $ 56 $ 1,970 $ 62 Commercial real estate 9,273 59 9,012 73 10,525 197 9,290 226 Construction, land acquisition and development 72 2 78 1 73 4 80 4 Commercial and industrial 1,000 4 861 - 1,083 10 1,082 1 Consumer 276 2 198 2 250 5 259 9 State and political subdivisions - - - - - - - - Total impaired loans $ 12,817 $ 83 $ 12,342 $ 97 $ 14,306 $ 272 $ 12,681 $ 302 |
Loan Modifications Related to COVID-19 [Table Text Block] | As of September 30, 2020 Total Loans Modified Total Number of Loans Still Under Deferral (in thousands) Number of Loans Recorded Investment % of Loan Category Number of Loans Recorded Investment % of Loan Category COVID-19 related loan modifications: Residential real estate 201 $ 18,951 10.89 % 2 $ 54 0.03 % Commercial real estate 159 113,245 38.22 % 7 7,860 2.65 % Construction, land acquisition and development 12 11,340 22.26 % - - - Commercial and industrial 101 22,748 7.96 % - - - Consumer 387 7,283 6.58 % 7 107 0.10 % State and political subdivision - - - - - - Total 860 $ 173,567 18.02 % 16 8,021 0.83 % |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | September 30, December 31, (in thousands) 2020 2019 Demand (non-interest bearing) $ 274,110 $ 179,465 Interest-bearing: Interest-bearing demand 693,031 534,677 Savings 107,868 94,530 Time ($250,000 and over) 40,334 48,425 Other time 156,895 144,612 Total interest-bearing 998,128 822,244 Total deposits $ 1,272,238 $ 1,001,709 |
Note 6 - Borrowings (Tables)
Note 6 - Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, December 31, (in thousands) 2020 2019 Federal Reserve Discount Window advances $ - $ - FHLB of Pittsburgh advances: Overnight advances - 14,100 Term advances - 32,809 Subtotal FHLB of Pittsburgh advances - 46,909 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 10,310 $ 57,219 |
Note 7 - Derivative and Hedgi_2
Note 7 - Derivative and Hedging Transactions/Subsequent Event (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Derivative Assets Derivative Liabilities September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 (in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate products $ - Other assets $ - Other assets $ - $ 30,000 Other liabilities $ 139 Other liabilities $ - Total derivatives designated as hedging instruments - - 139 - Cash and other collateral (1) - - - - Net derivative amounts $ - $ - $ 139 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended September 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ 5 $ 5 $ - Interest expense $ (10 ) $ (10 ) $ - Total $ 5 $ 5 $ - $ (10 ) $ (10 ) $ - Nine Months Ended September 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ (107 ) $ (107 ) $ - Interest expense $ 25 $ 25 $ - Total $ (107 ) $ (107 ) $ - $ 25 $ 25 $ - |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 (in thousands) Interest Expense Interest Expense Total amounts of income and expense line items presented in the cash flow statement of financial performance in which the effects of fair value or hedges are recorded $ (10 ) $ 25 The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 Interest contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income $ (10 ) $ 25 Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring $ - $ - Amount of gain or (loss) reclassified from accumulated OCI into income - included component $ (10 ) $ 25 Amount of gain or (loss) reclassified from accumulated OCI into income - excluded component $ - $ - |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,029 21.00 % $ 612 21.00 % $ 2,570 21.00 % $ 1,925 21.00 % Add (deduct): Tax effects of tax free interest income (179 ) (3.65 )% (75 ) (2.57 )% (450 ) (3.68 )% (259 ) (2.82 )% Non-deductible interest expense 5 0.10 % 4 0.13 % 14 0.11 % 11 0.12 % Bank-owned life insurance (25 ) (0.51 )% (28 ) (0.96 )% (77 ) (0.63 )% (83 ) (0.91 )% Other items, net (38 ) (0.77 )% - 0.00 % (8 ) (0.06 )% (12 ) (0.13 )% Income tax provision $ 792 16.17 % $ 513 17.60 % $ 2,049 16.74 % $ 1,582 17.26 % |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 93,573 $ 78,752 $ 77,896 $ 64,634 Additions, new loans and advances 17,424 41,499 48,120 70,592 Repayments (7,504 ) (25,484 ) (22,523 ) (40,459 ) Balance, end of period $ 103,493 $ 94,767 $ 103,493 $ 94,767 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost - bank branches $ 81 $ 86 $ 258 $ 257 Operating lease cost - automobiles and equipment 11 8 31 16 Short-term lease cost - office space 5 9 23 33 Short-term lease cost - automobiles and equipment - 1 - 6 Variable lease cost - - - - Total lease cost $ 97 $ 104 $ 312 $ 312 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) September 30, 2020 2020 $ 86 2021 361 2022 331 2023 323 2024 287 2025 and thereafter 2,813 Total lease payments 4,201 Less: imputed interest 931 Present value of operating lease liabilities $ 3,270 |
Lease, Other Information Related to Operating Leases [Table Text Block] | (dollars in thousands) September 30, 2020 Weighted-average remaining lease term 13.86 years Weighted-average discount rate 3.47 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 306 |
Note 11 - Stock Compensation _2
Note 11 - Stock Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Restricted Grant Date (dollars in thousands) Shares Fair Value Shares Fair Value Shares Fair Value Shares Fair Value Unvested restricted stock awards: Total outstanding, beginning of period 169,632 $ 7.04 134,047 $ 7.75 128,150 $ 7.76 114,702 $ 7.50 Awards granted - - - - 75,924 6.07 57,684 7.64 Forfeitures (2,753 ) 7.08 (5,897 ) 7.61 (5,412 ) 6.67 (6,678 ) 7.61 Vestings (6,637 ) 6.44 - - (38,420 ) 7.48 (37,558 ) 6.80 Total outstanding, end of period 160,242 $ 7.06 128,150 $ 7.76 160,242 $ 7.06 128,150 $ 7.76 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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 September 30, 2020 Total capital (to risk-weighted assets) $ 152,467 16.09 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 140,608 14.84 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 140,608 14.84 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 140,608 10.17 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 947,544 Total average assets 1,382,109 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 % 4.00 % 5.00 % Total risk-weighted assets 903,172 Total average assets 1,194,789 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2020 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Available-for-sale debt securities: Obligations of state and political subdivisions $ 191,963 $ - $ 191,963 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 54,494 - 54,494 - Collateralized mortgage obligations - commercial 2,198 - 2,198 - Mortgage-backed securities 11,123 - 11,123 - Private collateralized mortgage obligations 32,729 - 32,729 - Corporate debt securities 19,000 - 5,043 13,957 Asset-backed securities 9,892 - 9,892 - Negotiable certificates of deposit - - - - Subtotal available-for-sale debt securities 321,399 - 307,442 13,957 Equity securities, at fair value 2,719 2,719 - - Total $ 324,118 $ 2,719 $ 307,442 $ 13,957 Financial liabilities: Derivative liabilities $ 139 $ - $ 139 $ - Total $ 139 $ - $ 139 $ - Fair Value Measurements at December 31, 2019 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Financial assets: 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 - Subtotal available-for-sale debt securities 272,839 - 267,689 5,150 Equity securities, at fair value 920 920 - - Total $ 273,759 $ 920 $ 267,689 $ 5,150 |
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 Nine Months Ended September 30, (in thousands) 2020 2019 Balance at January 1, $ 5,150 $ 3,929 Additions 8,800 1,000 Payments Received - - Sales - - Total gains or losses (realized/unrealized): Included in earnings - - Included in other comprehensive income 7 132 Balance at September 30, $ 13,957 $ 5,061 |
Fair Value Measurements, Nonrecurring [Table Text Block] | September 30, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 7,506 $ 127 $ 7,379 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 5,049 282 4,767 Discounted cash flows Discount rate 2.30% 8.75% Other real estate owned 85 27 58 Appraisal of collateral Selling cost 10.0 % 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 cost 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 cost 10.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value September 30, 2020 December 31, 2019 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 105,016 $ 105,016 $ 34,565 $ 34,565 Available-for-sale debt securities See previous table 321,399 321,399 272,839 272,839 Equity securities, at fair value Level 1 2,719 2,719 920 920 Restricted stock Level 2 1,791 1,791 3,804 3,804 Loans held for sale Level 2 662 662 1,061 1,061 Loans, net Level 3 947,960 952,169 819,529 810,074 Accrued interest receivable Level 2 4,693 4,693 3,234 3,234 Servicing rights Level 3 330 595 356 790 Financial liabilities Deposits Level 2 1,272,238 1,272,696 1,001,709 1,001,829 Borrowed funds Level 2 10,310 10,310 57,219 57,234 Accrued interest payable Level 2 139 139 258 258 Derivative liabilities Level 2 139 139 - - |
Note 14 - Earnings Per Share (T
Note 14 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share data) 2020 2019 2020 2019 Net income $ 4,107 $ 2,403 $ 10,191 $ 7,587 Basic weighted-average number of common shares outstanding 20,235,384 20,168,529 20,199,933 19,678,031 Plus: Common share equivalents - 3,753 1,356 5,491 Diluted weighted-average number of common shares outstanding 20,235,384 20,172,282 20,201,289 19,683,522 Income per common share: Basic $ 0.20 $ 0.12 $ 0.50 $ 0.39 Diluted $ 0.20 $ 0.12 $ 0.50 $ 0.39 |
Note 15 - Other Comprehensive_2
Note 15 - Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Three Months Ended September 30, 2020 For the Nine Months Ended September 30, 2020 (in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (433 ) Net gain on the sale of available-for-sale debt securities $ (1,504 ) Net gain on the sale of available-for-sale debt securities Taxes 91 Income taxes 316 Income taxes Net of tax amount $ (342 ) $ (1,188 ) For the Three Months Ended September 30, 2019 For the Nine Months Ended September 30, 2019 (in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (379 ) Net gain on the sale of available-for-sale debt securities $ (702 ) Net gain on the sale of available-for-sale debt securities Taxes 79 Income taxes 147 Income taxes Net of tax amount $ (300 ) $ (555 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 10,779 $ 3,313 $ 3,056 $ (4,540 ) Other comprehensive income before reclassifications 1,761 1,552 10,330 9,660 Amount reclassified from accumulated other comprehensive income (342 ) (300 ) (1,188 ) (555 ) Net other comprehensive income during the period 1,419 1,252 9,142 9,105 Balance, end of period $ 12,198 $ 4,565 $ 12,198 $ 4,565 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | 3 Months Ended |
Sep. 30, 2020USD ($) | |
Financing Receivable, Number of Customers With Payment Deferrals | 860 |
Financing Receivable, Deferred Payments, Principal Balance of Loans Modified for Customers | $ 173,600,000 |
Number of PPP Loans Approved | 1,002 |
Amount of PPP Loans Approved | $ 118,600,000 |
Number of PPP Loans Submitted to SBA for Forgiveness Approval | 84 |
Amount of PPP Loans Submitted to SBA for Forgiveness Approval | $ 31,100,000 |
Loans Supported By Federal Reserve Bank [Member] | |
Financing Receivable, Main Street Priority Loan Facility, Loans Originated | 53,000,000 |
Financing Receivable, before Allowance for Credit Loss, Total | $ 2,700,000 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) $ / shares in Units, $ in Thousands | Sep. 15, 2020USD ($)$ / sharesshares | Jul. 01, 2020USD ($)$ / sharesshares | Sep. 30, 2020USD ($)shares | Sep. 30, 2020USD ($)shares | Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2019USD ($) |
Number of Non-government Securities of Any Individual Issuer Exceeding 10 Percent of Shareholders' Equity | 0 | 0 | 0 | |||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 259,800 | $ 259,800 | $ 235,000 | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 28 | 28 | 21 | |||
Other than Temporary Impairment Losses, Investments, Total | $ 0 | |||||
Share Price (in dollars per share) | $ / shares | $ 8.25 | |||||
Equity Securities, FV-NI | $ 2,719 | 2,719 | $ 920 | |||
Federal Home Loan Bank of Pittsburgh [Member] | ||||||
Impairment on Federal Home Loan Bank Stock | 0 | 0 | 0 | |||
Mutual Fund [Member] | ||||||
Equity Securities, FV-NI, Cost | 1,000 | 1,000 | ||||
Equity Securities, FV-NI | 936 | 936 | 920 | |||
Equity Securities, FV-NI, Unrealized Loss | $ 2 | |||||
Equity Securities, FV-NI, Unrealized Gain | $ 16 | |||||
Merger Agreement [Member] | ||||||
Equity Securities Without Readily Determinable Fair Value, Cash Received Due to Investee Merger | $ 1,200 | |||||
Business Combination, Number of Shares For Which Cash Received (in shares) | shares | 74,113 | |||||
Business Combination, Shares Converted into the Surviving Company's Common Stock (in shares) | shares | 122,178 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | $ 1,100 | |||||
Other Assets [Member] | ||||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 1,700 | |||||
US States and Political Subdivisions Debt Securities [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 13 | 13 | 10 | |||
Asset-backed Securities [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 6 | 6 | 2 | |||
Corporate Debt Securities [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | 4 | 0 | |||
Collateralized Mortgage Obligations [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | 4 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 1 | 1 | ||||
Equity Security Without Readily Determinable Fair Value [Member] | ||||||
Equity Securities without Readily Determinable Fair Value, Shares (in shares) | shares | 201,000 | 201,000 | ||||
Payments to Acquire Other Investments | $ 1,700 | |||||
Equity Securities Without Readily Determinable Fair Value, Cash Received Due to Investee Merger | $ 1,600 | |||||
Equity Securities Without Readily Determinable Fair Value, Shares Received Due to Investee Merger (in shares) | shares | 78,822 | |||||
Equity Securities Without Readily Determinable Fair Value, Shares Received Due to Investee Merger, Fair Value Per Share (in dollars per share) | $ / shares | $ 19.90 | |||||
Preferred Stock [Member] | ||||||
Equity Securities, FV-NI, Number of Shares Purchased (in shares) | shares | 20,000 | |||||
Equity Securities, FV-NI, Price Per Share (in dollars per share) | $ / shares | $ 25 | |||||
Equity Securities, FV-NI, Cost | $ 500 | |||||
Equity Securities, FV-NI, Dividend Rate | 7.50% | |||||
Equity Securities, FV-NI | $ 503 | $ 503 | ||||
Equity Securities, FV-NI, Unrealized Gain | 3 | 3 | ||||
Common Stock [Member] | ||||||
Equity Securities, FV-NI | 1,300 | 1,300 | ||||
Equity Securities, FV-NI, Unrealized Loss | $ 288 | $ 288 |
Note 3 - Securities - Available
Note 3 - Securities - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities, amortized cost | $ 305,826 | $ 268,971 |
Available-for-sale debt securities, gross unrealized holding gains | 15,925 | 4,374 |
Available-for-sale debt securities, gross unrealized holding losses | 352 | 506 |
Available-for-sale debt securities, at fair value | 321,399 | 272,839 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 181,118 | 115,428 |
Available-for-sale debt securities, gross unrealized holding gains | 10,946 | 2,694 |
Available-for-sale debt securities, gross unrealized holding losses | 101 | 359 |
Available-for-sale debt securities, at fair value | 191,963 | 117,763 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 50,897 | 79,606 |
Available-for-sale debt securities, gross unrealized holding gains | 3,616 | 780 |
Available-for-sale debt securities, gross unrealized holding losses | 19 | 92 |
Available-for-sale debt securities, at fair value | 54,494 | 80,294 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 2,012 | 17,414 |
Available-for-sale debt securities, gross unrealized holding gains | 186 | 320 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 11 |
Available-for-sale debt securities, at fair value | 2,198 | 17,723 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 10,488 | 18,142 |
Available-for-sale debt securities, gross unrealized holding gains | 635 | 343 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 0 |
Available-for-sale debt securities, at fair value | 11,123 | 18,485 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, amortized cost | 32,541 | 25,069 |
Available-for-sale debt securities, gross unrealized holding gains | 264 | 49 |
Available-for-sale debt securities, gross unrealized holding losses | 76 | 43 |
Available-for-sale debt securities, at fair value | 32,729 | 25,075 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 18,800 | 7,000 |
Available-for-sale debt securities, gross unrealized holding gains | 265 | 182 |
Available-for-sale debt securities, gross unrealized holding losses | 65 | 0 |
Available-for-sale debt securities, at fair value | 19,000 | 7,182 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 9,970 | 5,618 |
Available-for-sale debt securities, gross unrealized holding gains | 13 | 4 |
Available-for-sale debt securities, gross unrealized holding losses | 91 | 1 |
Available-for-sale debt securities, at fair value | 9,892 | 5,621 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, amortized cost | 0 | 694 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 2 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 0 |
Available-for-sale debt securities, at fair value | $ 0 | $ 696 |
Note 3 - Securities - Availab_2
Note 3 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
One year or less, amortized cost | $ 4,510 | |
One year or less, fair value | 4,573 | |
After one year through five years, amortized cost | 56,534 | |
After one year through five years, fair value | 60,632 | |
After five years through ten years, amortized cost | 42,620 | |
After five years through ten years, fair value | 44,604 | |
After ten years, amortized cost | 96,254 | |
After ten years, fair value | 101,154 | |
Available-for-sale debt securities, amortized cost | 305,826 | $ 268,971 |
Available-for-sale debt securities, at fair value | 321,399 | 272,839 |
Asset-backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 9,970 | |
Securities without a single maturity, fair value | 9,892 | |
Available-for-sale debt securities, amortized cost | 9,970 | 5,618 |
Available-for-sale debt securities, at fair value | 9,892 | 5,621 |
Collateralized Mortgage Obligations [Member] | ||
Securities without a single maturity, amortized cost | 85,450 | |
Securities without a single maturity, fair value | 89,421 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 10,488 | |
Securities without a single maturity, fair value | 11,123 | |
Available-for-sale debt securities, amortized cost | 10,488 | 18,142 |
Available-for-sale debt securities, at fair value | $ 11,123 | $ 18,485 |
Note 3 - Securities - Gross Pro
Note 3 - Securities - Gross Proceeds Received and Realized Gain (Loss) on Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Gross proceeds received on sales | $ 10,917 | $ 41,073 | $ 62,805 | $ 102,345 |
Gross realized gains | 474 | 383 | 1,650 | 732 |
Gross realized losses | (41) | (4) | (146) | (30) |
Net gains (losses) recognized on equity securities | 846 | 5 | 864 | 31 |
Less: net gains (losses) recognized on equity securities sold or transferred | 1,133 | 0 | 1,133 | 0 |
Unrealized gains (losses) on equity securities held | $ (287) | $ 5 | $ (269) | $ 31 |
Note 3 - Securities - Availab_3
Note 3 - Securities - Available-for-sale Debt Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Less than 12 months, number of securities | 28 | 21 |
Less than 12 months, fair value | $ 30,887 | $ 61,748 |
Less than 12 months, gross unrealized losses | $ 352 | $ 506 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 28 | 21 |
Total, fair value | $ 30,887 | $ 61,748 |
Total, gross unrealized losses | $ 352 | $ 506 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, number of securities | 13 | 10 |
Less than 12 months, fair value | $ 10,851 | $ 19,436 |
Less than 12 months, gross unrealized losses | $ 101 | $ 359 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 13 | 10 |
Total, fair value | $ 10,851 | $ 19,436 |
Total, gross unrealized losses | $ 101 | $ 359 |
Residential Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 1 | 4 |
Less than 12 months, fair value | $ 1,999 | $ 19,934 |
Less than 12 months, gross unrealized losses | $ 19 | $ 92 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 1 | 4 |
Total, fair value | $ 1,999 | $ 19,934 |
Total, gross unrealized losses | $ 19 | $ 92 |
Commercial Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 0 | 1 |
Less than 12 months, fair value | $ 0 | $ 2,500 |
Less than 12 months, gross unrealized losses | $ 0 | $ 11 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 0 | 1 |
Total, fair value | $ 0 | $ 2,500 |
Total, gross unrealized losses | $ 0 | $ 11 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Less than 12 months, number of securities | 4 | 4 |
Less than 12 months, fair value | $ 7,496 | $ 18,990 |
Less than 12 months, gross unrealized losses | $ 76 | $ 43 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 4 | 4 |
Total, fair value | $ 7,496 | $ 18,990 |
Total, gross unrealized losses | $ 76 | $ 43 |
Corporate Debt Securities [Member] | ||
Less than 12 months, number of securities | 4 | 0 |
Less than 12 months, fair value | $ 4,935 | $ 0 |
Less than 12 months, gross unrealized losses | $ 65 | $ 0 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 4 | 0 |
Total, fair value | $ 4,935 | $ 0 |
Total, gross unrealized losses | $ 65 | $ 0 |
Asset-backed Securities [Member] | ||
Less than 12 months, number of securities | 6 | 2 |
Less than 12 months, fair value | $ 5,606 | $ 888 |
Less than 12 months, gross unrealized losses | $ 91 | $ 1 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 6 | 2 |
Total, fair value | $ 5,606 | $ 888 |
Total, gross unrealized losses | $ 91 | $ 1 |
Negotiable Certificates of Deposit [Member] | ||
Less than 12 months, number of securities | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
Note 3 - Securities - Restricte
Note 3 - Securities - Restricted Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Stock in Atlantic Community Banker's Bank | $ 10 | $ 10 |
Restricted stock, at cost | 1,791 | 3,804 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Stock in Federal Home Loan Bank of Pittsburgh | $ 1,781 | $ 3,794 |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Oct. 31, 2020 | Dec. 31, 2019USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 963,302 | $ 963,302 | $ 826,356 | |||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | (2,955) | (2,955) | 2,192 | |||
Loans and Leases Receivable, Allowance, Ending Balance | 12,269 | 12,269 | 8,950 | |||
Gain (Loss) on Sales of Loans, Net, Total | 186 | $ 69 | 465 | $ 198 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 662 | $ 662 | 1,061 | |||
Loans Still Classified as Non-accrual Status, Period of Past Due (Day) | 90 days | |||||
Financing Receivable, Nonaccrual | 6,200 | $ 6,200 | 9,100 | |||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 0 | 0 | |||
Evaluated Individually for Impairment, Non-accrued Loans Other Than TDRs, Threshold | 100 | 100 | 100 | |||
Financing Receivable, Collectively Evaluated for Impairment | 950,747 | 950,747 | 810,570 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 77 | $ 90 | 282 | 267 | ||
Financing Receivable, Troubled Debt Restructuring | 7,800 | 7,800 | 9,100 | |||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | |||
Financing Receivable, Number of Payment Deferrals | 916 | 916 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 860 | 860 | ||||
Financing Receivable, Deferred Payments, Loans Modified | $ 173,567 | $ 173,567 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans with Second Deferral | 71 | 71 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Loans with Second Deferral | $ 21,400 | $ 21,400 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 16 | 16 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 8,021 | $ 8,021 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.83% | 0.83% | ||||
Number of Real Estate Properties in OREO | 0 | 0 | ||||
Real Estate Investment Property, Foreclosed | $ 0 | $ 0 | ||||
Subsequent Event [Member] | ||||||
Financing Receivable, Number of Payment Deferrals | 18 | |||||
Troubled Debt Restructuring [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | 125 | 125 | 97 | |||
Nonaccrual Loans [Member] | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 800 | 800 | 1,000 | |||
Performing Financial Instruments [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 7,200 | 7,200 | 7,700 | |||
Nonperforming Financial Instruments [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 600 | 600 | 1,400 | |||
Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 15,200 | 15,200 | 12,400 | |||
Loans and Leases Receivable, Period Increase (Decrease) | 2,800 | |||||
One- to Four-family Mortgages [Member] | ||||||
Recorded Investment of Mortgage Loans Sold | 4,600 | $ 2,900 | 10,500 | 7,100 | ||
Gain (Loss) on Sales of Loans, Net, Total | 186 | 69 | 465 | 198 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 700 | 700 | 1,100 | |||
Small Business Administration [Member] | ||||||
Loans Sold During Period, Principal Balance | 0 | $ 0 | 0 | $ 0 | ||
Loans Serviced for Others, Unpaid Principal Balance | 101,900 | 101,900 | 106,000 | |||
Commercial and Industrial [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 285,693 | 285,693 | 147,623 | |||
Financing Receivable, Collectively Evaluated for Impairment | $ 284,750 | $ 284,750 | 146,459 | |||
Financing Receivable, Modifications, Number of Contracts | 3 | |||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 196 | |||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 196 | |||||
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 101 | 101 | ||||
Financing Receivable, Deferred Payments, Loans Modified | $ 22,748 | $ 22,748 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 0 | 0 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 0 | $ 0 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.00% | 0.00% | ||||
Commercial and Industrial [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 118,600 | $ 118,600 | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 3,900 | 3,900 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 296,281 | $ 296,281 | 278,379 | |||
Number of Loans Downgraded to Special Mention | 1 | |||||
Loans Downgraded to Special Mention, Recorded Investment | $ 5,100 | $ 5,100 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 159 | 159 | ||||
Financing Receivable, Deferred Payments, Loans Modified | $ 113,245 | $ 113,245 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 7 | 7 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 7,860 | $ 7,860 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 2.65% | 2.65% | ||||
Residential Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 174,020 | $ 174,020 | 170,723 | |||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 88 | $ 24 | ||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 88 | $ 24 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 201 | 201 | ||||
Financing Receivable, Deferred Payments, Loans Modified | $ 18,951 | $ 18,951 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 2 | 2 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 54 | $ 54 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.03% | 0.03% | ||||
Number of Real Estate Properties in OREO | 2 | 2 | ||||
Real Estate Investment Property, Net, Total | $ 256 | $ 256 | ||||
Residential Portfolio Segment [Member] | Investor-owned Real Estate Loan [Member] | ||||||
Real Estate Investment Property, Foreclosed | $ 204 | $ 204 | ||||
Number of Real Estate Properties, Foreclosed | 1 | 1 | ||||
Residential Portfolio Segment [Member] | Forbearance Agreements [Member] | ||||||
Financing Receivable, Modifications, Number of Contracts | 3 | 3 | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 250 | $ 250 | ||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 261 | $ 261 | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 110,636 | $ 110,636 | 138,239 | |||
Financing Receivable, Collectively Evaluated for Impairment | $ 110,361 | $ 110,361 | $ 138,044 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 103 | |||||
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 387 | 387 | ||||
Financing Receivable, Deferred Payments, Loans Modified | $ 7,283 | $ 7,283 | ||||
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 7 | 7 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 107 | $ 107 | ||||
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.10% | 0.10% | ||||
Real Estate Investment Property, Foreclosed | $ 154 | |||||
Number of Real Estate Properties, Foreclosed | 2 |
Note 4 - Loans - Loans Receivab
Note 4 - Loans - Loans Receivable, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans, gross | $ 963,302 | $ 826,356 |
Unearned income | (118) | (69) |
Net deferred loan (fees) costs | (2,955) | 2,192 |
Allowance for loan and lease losses | (12,269) | (8,950) |
Loans, net | 947,960 | 819,529 |
Residential Portfolio Segment [Member] | ||
Loans, gross | 174,020 | 170,723 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, gross | 296,281 | 278,379 |
Construction, Land Acquisition and Development [Member] | ||
Loans, gross | 50,934 | 47,484 |
Commercial and Industrial [Member] | ||
Loans, gross | 285,693 | 147,623 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 110,636 | 138,239 |
State and Political Subdivisions [Member] | ||
Loans, gross | $ 45,738 | $ 43,908 |
Note 4 - Loans - Activity in th
Note 4 - Loans - Activity in the Allowance for Loan Losses, by Loan Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2019 | |
Balance | $ 11,024 | $ 8,945 | $ 8,950 | $ 9,519 | ||
Charge-offs | (582) | (417) | (1,227) | (1,994) | ||
Recoveries | 1,753 | 150 | 2,490 | 960 | ||
Provision for loan and lease losses | 74 | 637 | 2,056 | 830 | ||
Balance | 12,269 | 9,315 | 12,269 | 9,315 | ||
Individually evaluated for impairment | $ 409 | $ 473 | ||||
Collectively evaluated for impairment | 11,860 | 8,477 | ||||
Total | 12,269 | 9,315 | 8,950 | 9,519 | 12,269 | 8,950 |
Individually evaluated for impairment | 12,555 | 15,786 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 950,747 | 810,570 | ||||
Total | 963,302 | 826,356 | ||||
Residential Portfolio Segment [Member] | ||||||
Total | 174,020 | 170,723 | ||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Balance | 1,351 | 1,152 | 1,147 | 1,175 | ||
Charge-offs | 0 | 0 | 0 | (27) | ||
Recoveries | 3 | 1 | 42 | 7 | ||
Provision for loan and lease losses | 193 | 5 | 358 | 3 | ||
Balance | 1,547 | 1,158 | 1,547 | 1,158 | ||
Individually evaluated for impairment | 12 | 9 | ||||
Collectively evaluated for impairment | 1,535 | 1,138 | ||||
Total | 1,547 | 1,158 | 1,147 | 1,175 | 1,547 | 1,147 |
Individually evaluated for impairment | 2,202 | 2,711 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 171,818 | 168,012 | ||||
Total | 174,020 | 170,723 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Total | 296,281 | 278,379 | ||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Balance | 3,942 | 3,429 | 3,198 | 3,107 | ||
Charge-offs | (280) | 0 | (336) | 0 | ||
Recoveries | 845 | 0 | 846 | 14 | ||
Provision for loan and lease losses | 307 | 422 | 1,106 | 730 | ||
Balance | 4,814 | 3,851 | 4,814 | 3,851 | ||
Individually evaluated for impairment | 367 | 221 | ||||
Collectively evaluated for impairment | 4,447 | 2,977 | ||||
Total | 4,814 | 3,851 | 3,198 | 3,107 | 4,814 | 3,198 |
Individually evaluated for impairment | 9,064 | 11,640 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 287,217 | 266,739 | ||||
Total | 296,281 | 278,379 | ||||
Construction, Land Acquisition and Development [Member] | ||||||
Total | 50,934 | 47,484 | ||||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||||
Balance | 360 | 178 | 271 | 188 | ||
Charge-offs | 0 | 0 | 0 | (18) | ||
Recoveries | 0 | 1 | 0 | 82 | ||
Provision for loan and lease losses | 53 | 47 | 142 | (26) | ||
Balance | 413 | 226 | 413 | 226 | ||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 413 | 271 | ||||
Total | 413 | 226 | 271 | 188 | 413 | 271 |
Individually evaluated for impairment | 71 | 76 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 50,863 | 47,408 | ||||
Total | 50,934 | 47,484 | ||||
Commercial and Industrial [Member] | ||||||
Balance | 2,343 | 2,071 | 1,997 | 2,552 | ||
Charge-offs | (81) | (216) | (208) | (976) | ||
Recoveries | 726 | 58 | 1,210 | 265 | ||
Provision for loan and lease losses | (634) | 78 | (645) | 150 | ||
Balance | 2,354 | 1,991 | 2,354 | 1,991 | ||
Individually evaluated for impairment | 29 | 242 | ||||
Collectively evaluated for impairment | 2,325 | 1,755 | ||||
Total | 2,354 | 1,991 | 1,997 | 2,552 | 2,354 | 1,997 |
Individually evaluated for impairment | 943 | 1,164 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 284,750 | 146,459 | ||||
Total | 285,693 | 147,623 | ||||
Consumer Portfolio Segment [Member] | ||||||
Balance | 1,689 | 1,839 | 1,658 | 2,051 | ||
Charge-offs | (221) | (201) | (683) | (973) | ||
Recoveries | 179 | 90 | 392 | 592 | ||
Provision for loan and lease losses | 2 | 68 | 282 | 126 | ||
Balance | 1,649 | 1,796 | 1,649 | 1,796 | ||
Individually evaluated for impairment | 1 | 1 | ||||
Collectively evaluated for impairment | 1,648 | 1,657 | ||||
Total | 1,649 | 1,796 | 1,658 | 2,051 | 1,649 | 1,658 |
Individually evaluated for impairment | 275 | 195 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 110,361 | 138,044 | ||||
Total | 110,636 | 138,239 | ||||
State and Political Subdivisions [Member] | ||||||
Balance | 337 | 211 | 253 | 417 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision for loan and lease losses | 40 | 5 | 124 | (201) | ||
Balance | 377 | 216 | 377 | 216 | ||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 377 | 253 | ||||
Total | 377 | 216 | 253 | 417 | 377 | 253 |
Individually evaluated for impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 45,738 | 43,908 | ||||
Total | 45,738 | 43,908 | ||||
Unallocated Financing Receivables [Member] | ||||||
Balance | 1,002 | 65 | 426 | 29 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision for loan and lease losses | 113 | 12 | 689 | 48 | ||
Balance | 1,115 | 77 | 1,115 | 77 | ||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 1,115 | 426 | ||||
Total | $ 1,115 | $ 77 | $ 426 | $ 29 | 1,115 | 426 |
Individually evaluated for impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | ||||
Total | $ 0 | $ 0 |
Note 4 - Loans - Loans by Credi
Note 4 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans | $ 963,302 | $ 826,356 |
Commercial Loans [Member] | ||
Loans | 708,873 | 546,961 |
Accruing Loans [Member] | ||
Loans | 252,917 | 277,413 |
Nonaccrual Loans [Member] | ||
Loans | 1,512 | 1,982 |
Subtotal, Other Loans [Member] | ||
Loans | 254,429 | 279,395 |
Pass [Member] | Commercial Loans [Member] | ||
Loans | 690,584 | 532,300 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 3,082 | 2,271 |
Substandard [Member] | ||
Loans | 15,200 | 12,400 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans | 15,207 | 12,390 |
Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans | 174,020 | 170,723 |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 32,892 | 32,703 |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 140,211 | 136,709 |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 917 | 1,311 |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 141,128 | 138,020 |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 32,391 | 32,219 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 250 | 177 |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 251 | 307 |
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 | 296,281 | 278,379 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 296,281 | 278,379 |
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 | 280,114 | 266,112 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 2,370 | 1,668 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 13,797 | 10,599 |
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 | 50,934 | 47,484 |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | ||
Loans | 47,696 | 46,361 |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | ||
Loans | 3,238 | 1,123 |
Construction, Land Acquisition and Development [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Subtotal, Other Loans [Member] | ||
Loans | 3,238 | 1,123 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 47,696 | 46,361 |
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 | 0 |
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 | 285,693 | 147,623 |
Commercial and Industrial [Member] | Commercial Loans [Member] | ||
Loans | 282,423 | 142,499 |
Commercial and Industrial [Member] | Accruing Loans [Member] | ||
Loans | 3,270 | 5,124 |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | ||
Loans | 3,270 | 5,124 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 280,802 | 140,589 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 462 | 426 |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 1,159 | 1,484 |
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 | 110,636 | 138,239 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 3,855 | 3,111 |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 106,186 | 134,457 |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 595 | 671 |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 106,781 | 135,128 |
Consumer Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 3,855 | 3,111 |
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 | 45,738 | 43,908 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | ||
Loans | 45,726 | 43,908 |
State and Political Subdivisions [Member] | Accruing Loans [Member] | ||
Loans | 12 | 0 |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | ||
Loans | 12 | 0 |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 45,726 | 43,908 |
State and Political Subdivisions [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | $ 0 | $ 0 |
Note 4 - Loans - Performing and
Note 4 - Loans - Performing and Non-performing Loan Delinquency Status (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Loans past due | $ 963,302 | $ 826,356 |
Performing Financial Instruments [Member] | ||
Loans past due | 957,126 | 817,272 |
Nonperforming Financial Instruments [Member] | ||
Loans past due | 6,176 | 9,084 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 172,891 | 169,149 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,129 | 1,574 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 292,459 | 272,742 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 50,934 | 47,484 |
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 | 285,064 | 146,421 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 629 | 1,202 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 110,040 | 137,568 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 596 | 671 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 45,738 | 43,908 |
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 | 3,822 | 5,637 |
Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans past due | 958,454 | 818,841 |
Financial Asset, 1 to 29 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 955,516 | 814,312 |
Financial Asset, 1 to 29 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 2,938 | 4,529 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 172,491 | 168,754 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 459 | 873 |
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 | 292,459 | 272,561 |
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 | 50,934 | 47,484 |
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 | 285,058 | 146,221 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 599 | 943 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 108,836 | 135,384 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 345 | 193 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 45,738 | 43,908 |
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 | 1,535 | 2,520 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 1,420 | 3,107 |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 1,327 | 2,104 |
Financial Asset, 30 to 59 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 93 | 1,003 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 388 | 134 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 34 | 17 |
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 | 0 | 75 |
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 | 5 | 200 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 934 | 1,695 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 59 | 93 |
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 | 0 | 893 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 376 | 1,670 |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 283 | 856 |
Financial Asset, 60 to 89 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 93 | 814 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 12 | 261 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 228 |
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 | 0 | 106 |
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 | 1 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 114 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 270 | 489 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 93 | 38 |
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 | 0 | 434 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 3,052 | 2,738 |
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 | 3,052 | 2,738 |
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 | 636 | 456 |
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 | 30 | 145 |
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 | 99 | 347 |
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 | $ 2,287 | $ 1,790 |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Recorded investment, with no allowance recorded | $ 4,174 | $ 6,457 |
Unpaid principal balance, with no allowance recorded | 5,801 | 8,262 |
Recorded investment, with a related allowance recorded | 8,381 | 9,329 |
Unpaid principal balance, with a related allowance recorded | 9,630 | 10,050 |
Related Allowance | 409 | 473 |
Recorded Investment | 12,555 | 15,786 |
Unpaid principal balance | 15,431 | 18,312 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 885 | 1,217 |
Unpaid principal balance, with no allowance recorded | 973 | 1,303 |
Recorded investment, with a related allowance recorded | 1,317 | 1,494 |
Unpaid principal balance, with a related allowance recorded | 1,317 | 1,494 |
Related Allowance | 12 | 9 |
Recorded Investment | 2,202 | 2,711 |
Unpaid principal balance | 2,290 | 2,797 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 2,597 | 4,548 |
Unpaid principal balance, with no allowance recorded | 4,115 | 6,007 |
Recorded investment, with a related allowance recorded | 6,467 | 7,092 |
Unpaid principal balance, with a related allowance recorded | 7,498 | 7,811 |
Related Allowance | 367 | 221 |
Recorded Investment | 9,064 | 11,640 |
Unpaid principal balance | 11,613 | 13,818 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 71 | 76 |
Unpaid principal balance, with no allowance recorded | 71 | 76 |
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 | 71 | 76 |
Unpaid principal balance | 71 | 76 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 513 | 593 |
Unpaid principal balance, with no allowance recorded | 527 | 850 |
Recorded investment, with a related allowance recorded | 430 | 571 |
Unpaid principal balance, with a related allowance recorded | 648 | 573 |
Related Allowance | 29 | 242 |
Recorded Investment | 943 | 1,164 |
Unpaid principal balance | 1,175 | 1,423 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance recorded | 108 | 23 |
Unpaid principal balance, with no allowance recorded | 115 | 26 |
Recorded investment, with a related allowance recorded | 167 | 172 |
Unpaid principal balance, with a related allowance recorded | 167 | 172 |
Related Allowance | 1 | 1 |
Recorded Investment | 275 | 195 |
Unpaid principal balance | 282 | 198 |
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 4 - Loans - Average Balanc
Note 4 - Loans - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Average balance | $ 12,817 | $ 12,342 | $ 14,306 | $ 12,681 | |
Interest income | [1] | 83 | 97 | 272 | 302 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 2,196 | 2,193 | 2,375 | 1,970 | |
Interest income | [1] | 16 | 21 | 56 | 62 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 9,273 | 9,012 | 10,525 | 9,290 | |
Interest income | [1] | 59 | 73 | 197 | 226 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Average balance | 72 | 78 | 73 | 80 | |
Interest income | [1] | 2 | 1 | 4 | 4 |
Commercial and Industrial [Member] | |||||
Average balance | 1,000 | 861 | 1,083 | 1,082 | |
Interest income | [1] | 4 | 0 | 10 | 1 |
Consumer Portfolio Segment [Member] | |||||
Average balance | 276 | 198 | 250 | 259 | |
Interest income | [1] | 2 | 2 | 5 | 9 |
State and Political Subdivisions [Member] | |||||
Average balance | 0 | 0 | 0 | 0 | |
Interest income | [1] | $ 0 | $ 0 | $ 0 | $ 0 |
[1] | Interest income represents income recognized on performing TDRs. |
Note 4 - Loans - Loan Modificat
Note 4 - Loans - Loan Modifications Related to COVID-19 (Details) $ in Thousands | Sep. 30, 2020USD ($) |
Total Loans Modified, Number of Loans | 860 |
Total Loans Modified, Recorded Investment | $ 173,567 |
Total Loans Modified, Percentage of Loan Category | 18.02% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 16 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 8,021 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.83% |
Residential Portfolio Segment [Member] | |
Total Loans Modified, Number of Loans | 201 |
Total Loans Modified, Recorded Investment | $ 18,951 |
Total Loans Modified, Percentage of Loan Category | 10.89% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 2 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 54 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.03% |
Commercial Real Estate Portfolio Segment [Member] | |
Total Loans Modified, Number of Loans | 159 |
Total Loans Modified, Recorded Investment | $ 113,245 |
Total Loans Modified, Percentage of Loan Category | 38.22% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 7 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 7,860 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 2.65% |
Construction, Land Acquisition and Development [Member] | |
Total Loans Modified, Number of Loans | 12 |
Total Loans Modified, Recorded Investment | $ 11,340 |
Total Loans Modified, Percentage of Loan Category | 22.26% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.00% |
Commercial and Industrial [Member] | |
Total Loans Modified, Number of Loans | 101 |
Total Loans Modified, Recorded Investment | $ 22,748 |
Total Loans Modified, Percentage of Loan Category | 7.96% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.00% |
Consumer Portfolio Segment [Member] | |
Total Loans Modified, Number of Loans | 387 |
Total Loans Modified, Recorded Investment | $ 7,283 |
Total Loans Modified, Percentage of Loan Category | 6.58% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 7 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 107 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.10% |
State and Political Subdivisions [Member] | |
Total Loans Modified, Number of Loans | 0 |
Total Loans Modified, Recorded Investment | $ 0 |
Total Loans Modified, Percentage of Loan Category | 0.00% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.00% |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Deposits, Total | $ 1,272,238 | $ 1,001,709 |
Noninterest-bearing Deposit Liabilities, Total | 274,110 | 179,465 |
Increase (Decrease) in Non-interest-bearing Demand Deposits | 94,600 | |
Interest-bearing Deposit Liabilities, Total | 998,128 | $ 822,244 |
Increase (Decrease) in Interest-bearing Deposits | $ 175,900 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Demand (non-interest-bearing) | $ 274,110 | $ 179,465 |
Interest-bearing demand | 693,031 | 534,677 |
Savings | 107,868 | 94,530 |
Time ($250,000 and over) | 40,334 | 48,425 |
Other time | 156,895 | 144,612 |
Total interest-bearing | 998,128 | 822,244 |
Total deposits | $ 1,272,238 | $ 1,001,709 |
Note 6 - Borrowings (Details Te
Note 6 - Borrowings (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Advances from Federal Home Loan Banks, Total | $ 0 | $ 46,909 |
Long-term Debt, Total | 10,310 | 57,219 |
Federal Reserve Bank Advances [Member] | ||
Loans Pledged as Collateral | 36,200 | |
Short-term Debt, Total | 0 | 0 |
Line of Credit Facility, Maximum Borrowing Capacity | 17,300 | |
Borrower-in-custody Program [Member] | Federal Reserve Bank Advances [Member] | ||
Short-term Debt, Total | 0 | 0 |
Paycheck Protection Program Liquidity Facility [Member] | ||
Advances From Federal Discount Window | $ 0 | |
Debt Instrument, Interest Rate, Stated Percentage | 0.35% | |
Long-term Debt, Total | $ 118,600 | |
Federal Reserve Bank Borrowing, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 36,200 | |
Federal Reserve Bank Borrowing, Advances, General Debt Obligations, Amount of Available, Unused Funds | 82,400 | |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 499,600 | $ 475,300 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 350,900 | |
Letters of Credit Outstanding, Amount | 75,000 | |
Federal Home Loan Bank of Pittsburgh [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Advances from Federal Home Loan Banks, Total | $ 0 |
Note 6 - Borrowings - Component
Note 6 - Borrowings - Components of Borrowed Funds (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Long-term Debt, Total | $ 10,310 | $ 57,219 |
Total borrowed funds | 10,310 | 57,219 |
Junior Subordinated Debt [Member] | ||
Long-term Debt, Total | 10,310 | 10,310 |
Federal Reserve Bank Advances [Member] | ||
Short-term Debt, Total | 0 | 0 |
Federal Home Loan Bank Advances [Member] | ||
Short-term Debt, Total | 0 | 46,909 |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Short-term Debt, Total | 0 | 14,100 |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Term [Member] | ||
Short-term Debt, Total | $ 0 | $ 32,809 |
Note 7 - Derivative and Hedgi_3
Note 7 - Derivative and Hedging Transactions/Subsequent Event (Details Textual) - USD ($) $ in Thousands | Oct. 01, 2020 | Sep. 30, 2020 | Dec. 31, 2020 |
Derivative Liability, Total | $ 139 | ||
Termination Fee Related to Derivative Agreement | 139 | ||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative, Notional Amount | $ 0 | ||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Subsequent Event [Member] | |||
Derivative, Notional Amount | $ 2,800 | ||
Derivative, Forward Term Before Start (Year) | 2 years | ||
Interest Rate Swap [Member] | Interest Expense [Member] | Forecast [Member] | |||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 4 |
Note 7 - Derivative and Hedgi_4
Note 7 - Derivative and Hedging Transactions/Subsequent Event - Fair Values of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Derivative assets, Cash and other collateral | [1] | $ 0 | $ 0 |
Derivative liabilities, Cash and other collateral | [1] | 0 | 0 |
Net derivative asset amounts | 0 | 0 | |
Net derivative liability amounts | 139 | 0 | |
Designated as Hedging Instrument [Member] | |||
Derivative assets | 0 | 0 | |
Derivative liabilities | 139 | 0 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative assets | 0 | 0 | |
Interest rate products | 30,000 | ||
Derivative liabilities | $ 139 | $ 0 | |
[1] | Other collateral represents the amount that cannot be used to offset FNCB's derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consists of securities and is exchanged under bilateral collateral and master netting agreements that allow FNCB to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above. |
Note 7 - Derivative and Hedgi_5
Note 7 - Derivative and Hedging Transactions/Subsequent Event - Effect of Hedge Accounting on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Amount of Gain or (Loss) Recognized in OCI on Derivative | $ 5 | $ (107) |
Amount of Gain or (Loss) Recognized in OCI Included Component | 5 | (107) |
Amount of Gain or (Loss) Recognized in OCI Excluded Component | 0 | 0 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | (10) | 25 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component | (10) | 25 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | 0 | 0 |
Interest Rate Swap [Member] | Interest Expense [Member] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivative | 5 | (107) |
Amount of Gain or (Loss) Recognized in OCI Included Component | 5 | (107) |
Amount of Gain or (Loss) Recognized in OCI Excluded Component | 0 | 0 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | (10) | 25 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component | (10) | 25 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | $ 0 | $ 0 |
Note 7 - Derivative and Hedgi_6
Note 7 - Derivative and Hedging Transactions/Subsequent Event - Effect of Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | $ 10 | $ (25) |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | 0 | 0 |
Interest Rate Contract [Member] | Interest Expense [Member] | ||
Total amounts of income and expense line items presented in the cash flow statement of financial performance in which the effects of fair value or hedges are recorded | (10) | 25 |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | (10) | 25 |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into income - included component | (10) | 25 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | $ 0 | $ 0 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 21.00% | |
Net Deferred Tax Assets (Liabilities) | $ 1,800 | $ 1,800 | $ 6,300 | ||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 2,300 | 2,300 | |||
Operating Loss Carryforwards, Total | 20,700 | 20,700 | |||
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 0 | $ 0 |
Note 8 - Income Taxes - Effecti
Note 8 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Provision at statutory tax rates | $ 1,029 | $ 612 | $ 2,570 | $ 1,925 |
Provision at statutory tax rates, percentage | 21.00% | 21.00% | 21.00% | 21.00% |
Tax effects of tax free interest income | $ (179) | $ (75) | $ (450) | $ (259) |
Tax effects of tax free interest income, percentage | (3.65%) | (2.57%) | (3.68%) | (2.82%) |
Non-deductible interest expense | $ 5 | $ 4 | $ 14 | $ 11 |
Non-deductible interest expense, percentage | 0.10% | 0.13% | 0.11% | 0.12% |
Bank-owned life insurance | $ (25) | $ (28) | $ (77) | $ (83) |
Bank-owned life insurance, percentage | (0.51%) | (0.96%) | (0.63%) | (0.91%) |
Other items, net | $ (38) | $ 0 | $ (8) | $ (12) |
Other items, net, percentage | (0.77%) | 0.00% | (0.06%) | (0.13%) |
Income tax provision | $ 792 | $ 513 | $ 2,049 | $ 1,582 |
Income tax provision, percentage | 16.17% | 17.60% | 16.74% | 17.26% |
Note 9 - Related Party Transa_3
Note 9 - Related Party Transactions (Details Textual) - Directors, Executive Officers and Their Related Parties [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Related Party Deposit Liabilities | $ 142,500 | $ 142,500 | $ 84,100 | ||
Related Party Transactions, Interest Paid on Deposits | 417 | $ 366 | |||
Related Party Transaction, Expenses from Transactions with Related Party | 588 | $ 621 | 1,300 | $ 1,600 | |
Nonperforming Financial Instruments [Member] | |||||
Due from Related Parties, Total | $ 0 | $ 0 |
Note 9 - Related Party Transa_4
Note 9 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balance, beginning of period | $ 93,573 | $ 78,752 | $ 77,896 | $ 64,634 |
Additions, new loans and advances | 17,424 | 41,499 | 48,120 | 70,592 |
Repayments | (7,504) | (25,484) | (22,523) | (40,459) |
Balance, end of period | $ 103,493 | $ 94,767 | $ 103,493 | $ 94,767 |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2020 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 78 | |
Automobile Lease [Member] | ||
Operating Lease, Right-of-Use Asset | $ 18 | |
Operating Lease, Liability, Total | 16 | |
Other Assets [Member] | ||
Operating Lease, Right-of-Use Asset | 3,000 | |
Operating Lease, Liability, Total | $ 3,300 |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingencies - Lease Expense and Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Variable lease cost | $ 0 | $ 0 | $ 0 | $ 0 |
Total lease cost | 97 | 104 | 312 | 312 |
Occupancy, Net [Member] | ||||
Operating lease cost | 81 | 86 | 258 | 257 |
Short-term lease cost | 5 | 9 | 23 | 33 |
Equipment Expense [Member] | ||||
Operating lease cost | 11 | 8 | 31 | 16 |
Short-term lease cost | $ 0 | $ 1 | $ 0 | $ 6 |
Note 10 - Commitments and Con_5
Note 10 - Commitments and Contingencies - Maturity of Remaining Operating Lease Liabilities (Details) $ in Thousands | Sep. 30, 2020USD ($) |
2020 | $ 86 |
2021 | 361 |
2022 | 331 |
2023 | 323 |
2024 | 287 |
2025 and thereafter | 2,813 |
Total lease payments | 4,201 |
Less: imputed interest | 931 |
Other Liabilities [Member] | |
Present value of operating lease liabilities | $ 3,270 |
Note 10 - Commitments and Con_6
Note 10 - Commitments and Contingencies - Other Information Related to Operating Leases (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Weighted-average remaining lease term (Year) | 13 years 10 months 9 days |
Weighted-average discount rate | 3.47% |
Operating cash flows from operating leases | $ 306 |
Note 11 - Stock Compensation _3
Note 11 - Stock Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 01, 2020 | Sep. 30, 2020 | Sep. 30, 2019 |
Non-employee Director [Member] | |||
Stock Issued During Period, Shares, Share-based Compensation, Per Recipient (in shares) | 2,555 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 5.87 | ||
Directors Fee | $ 150 | ||
Ten Non-employee Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 25,550 | ||
Long-Term Incentive Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 75,924 | 57,684 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 756,060 | ||
Share-based Payment Arrangement, Expense | $ 259 | $ 196 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 975 | $ 869 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 7 months 6 days |
Note 11 - Stock Compensation _4
Note 11 - Stock Compensation Plans - Stock Compensation Plans (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Total outstanding, beginning of period (in shares) | 169,632 | 134,047 | 128,150 | 114,702 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 7.04 | $ 7.75 | $ 7.76 | $ 7.50 |
Awards granted (in shares) | 0 | 0 | 75,924 | 57,684 |
Awards granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 6.07 | $ 7.64 |
Forfeitures (in shares) | (2,753) | (5,897) | (5,412) | (6,678) |
Forfeitures, weighted average grant date fair value (in dollars per share) | $ 7.08 | $ 7.61 | $ 6.67 | $ 7.61 |
Vestings (in shares) | (6,637) | 0 | (38,420) | (37,558) |
Vestings, weighted average grant date fair value (in dollars per share) | $ 6.44 | $ 0 | $ 7.48 | $ 6.80 |
Total outstanding, end of period (in shares) | 160,242 | 128,150 | 160,242 | 128,150 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 7.06 | $ 7.76 | $ 7.06 | $ 7.76 |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 28, 2020 | Feb. 08, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Stock Issued During Period, Shares, New Issues (in shares) | 3,285,550 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 7 | ||||||
Shares Issued, Underwriting Discount Per Share (in dollars per share) | $ 0.35 | ||||||
Proceeds from Issuance of Common Stock | $ 21,300 | $ 31 | $ 21,331 | ||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.055 | $ 0.05 | $ 0.165 | $ 0.15 | |||
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares) | 2,795 | 1,907 | 8,211 | 5,453 | |||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.055 | $ 0.050 | $ 0.165 | $ 0.150 | |||
Subsequent Event [Member] | |||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.055 | ||||||
Dividends Payable, Date to be Paid | Dec. 15, 2020 | ||||||
Dividends Payable, Date of Record | Dec. 1, 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 (in shares) | 428,550 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Risk-based Capital and Related Ratios (Details) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Total capital (to risk-weighted assets), Amount | $ 152,467 | $ 133,406 |
Total capital (to risk-weighted assets), Ratio | 0.1609 | 0.1477 |
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 0.0800 | 0.0800 |
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 0.1050 | 0.1050 |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 0.1000 | 0.1000 |
Tier I capital (to risk-weighted assets), Amount | $ 140,608 | $ 123,753 |
Tier I capital (to risk-weighted assets), Ratio | 0.1484 | 0.1370 |
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 0.0600 | 0.0600 |
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 0.0850 | 0.0850 |
Tier I capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 0.0800 | 0.0800 |
Tier I common equity (to risk-weighted assets), Amount | $ 140,608 | $ 123,753 |
Tier I common equity (to risk-weighted assets), Ratio | 0.1484 | 0.1370 |
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes | 0.0450 | 0.0450 |
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 0.0700 | 0.0700 |
Tier I common equity (to risk-weighted assets), To be well capitalized under prompt corrective action | 0.0650 | 0.0650 |
Tier I capital (to average assets), Amount | $ 140,608 | $ 123,753 |
Tier I capital (to average assets), Ratio | 0.1017 | 0.1036 |
Tier I capital (to average assets), Minimum required for capital adequacy purposes | 0.0400 | 0.0400 |
Tier I capital (to average assets), Minimum required for capital adequacy purposes with conservation buffer | 0.0400 | 0.0400 |
Tier I capital (to average assets), To be well capitalized under prompt corrective action | 0.0500 | 0.0500 |
Total risk-weighted assets, Amount | $ 947,544 | $ 903,172 |
Total average assets, Amount | $ 1,382,109 | $ 1,194,789 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 305,826 | $ 268,971 |
Debt Securities, Available-for-sale, Total | 321,399 | 272,839 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 18,800 | 7,000 |
Debt Securities, Available-for-sale, Total | $ 19,000 | $ 7,182 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.0486 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.0586 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities, at fair value | $ 321,399 | $ 272,839 |
Equity securities, at fair value | 2,719 | 920 |
Derivative liabilities | 139 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 191,963 | 117,763 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 11,123 | 18,485 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 32,729 | 25,075 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 19,000 | 7,182 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 9,892 | 5,621 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 696 |
Fair Value, Recurring [Member] | ||
Available-for-sale debt securities, at fair value | 321,399 | 272,839 |
Equity securities, at fair value | 2,719 | 920 |
Total | 324,118 | 273,759 |
Derivative liabilities | 139 | |
Total | 139 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Equity securities, at fair value | 2,719 | 920 |
Total | 2,719 | 920 |
Derivative liabilities | 0 | |
Total | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 307,442 | 267,689 |
Equity securities, at fair value | 0 | 0 |
Total | 307,442 | 267,689 |
Derivative liabilities | 139 | |
Total | 139 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 13,957 | 5,150 |
Equity securities, at fair value | 0 | 0 |
Total | 13,957 | 5,150 |
Derivative liabilities | 0 | |
Total | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 191,963 | 117,763 |
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 | 0 | 0 |
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 | 191,963 | 117,763 |
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 | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | ||
Available-for-sale debt securities, at fair value | 54,494 | 80,294 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 54,494 | 80,294 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | ||
Available-for-sale debt securities, at fair value | 2,198 | 17,723 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 2,198 | 17,723 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 11,123 | 18,485 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 11,123 | 18,485 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 32,729 | 25,075 |
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 | 0 | 0 |
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 | 32,729 | 25,075 |
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 | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 19,000 | 7,182 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 5,043 | 2,032 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 13,957 | 5,150 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 9,892 | 5,621 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 9,892 | 5,621 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 696 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 696 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | $ 0 | $ 0 |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Changes in Fair Value Assets (Details) - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Balance | $ 5,150 | $ 3,929 |
Additions | 8,800 | 1,000 |
Payments Received | 0 | 0 |
Sales | 0 | 0 |
Included in earnings | 0 | 0 |
Included in other comprehensive income | 7 | 132 |
Balance | $ 13,957 | $ 5,061 |
Note 13 - Fair Value Measurem_6
Note 13 - Fair Value Measurements - Assets Measured At Fair Value on a Non-recurring Basis and Quantitative Information (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Recorded Investment | $ 12,555 | $ 15,786 |
Related Allowance | 409 | 473 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||
Related Allowance | 27 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded Investment | 7,506 | 7,721 |
Related Allowance | 127 | 376 |
Fair Value | $ 7,379 | $ 7,345 |
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 | $ 85 | $ 289 |
Related Allowance | 0 | |
Fair Value | $ 58 | $ 289 |
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 | $ 5,049 | $ 8,065 |
Related Allowance | 282 | 97 |
Fair Value | $ 4,767 | $ 7,968 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Minimum [Member] | ||
Discount Rate | 2.30% | 3.99% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Maximum [Member] | ||
Discount Rate | 8.75% | 7.49% |
Note 13 - Fair Value Measurem_7
Note 13 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities | $ 321,399 | $ 272,839 |
Equity securities, at fair value | 2,719 | 920 |
Derivative liabilities | 139 | |
Reported Value Measurement [Member] | ||
Available-for-sale debt securities | 321,399 | 272,839 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 105,016 | 34,565 |
Equity securities, at fair value | 2,719 | 920 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 1,791 | 3,804 |
Loans held for sale | 662 | 1,061 |
Accrued interest receivable | 4,693 | 3,234 |
Deposits | 1,272,238 | 1,001,709 |
Borrowed funds | 10,310 | 57,219 |
Accrued interest payable | 139 | 258 |
Derivative liabilities | 139 | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 947,960 | 819,529 |
Servicing rights | 330 | 356 |
Estimate of Fair Value Measurement [Member] | ||
Available-for-sale debt securities | 321,399 | 272,839 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 105,016 | 34,565 |
Equity securities, at fair value | 2,719 | 920 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 1,791 | 3,804 |
Loans held for sale | 662 | 1,061 |
Accrued interest receivable | 4,693 | 3,234 |
Deposits | 1,272,696 | 1,001,829 |
Borrowed funds | 10,310 | 57,234 |
Accrued interest payable | 139 | 258 |
Derivative liabilities | 139 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 952,169 | 810,074 |
Servicing rights | $ 595 | $ 790 |
Note 14 - Earnings Per Share -
Note 14 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income | $ 4,107 | $ 2,403 | $ 10,191 | $ 7,587 |
Basic weighted-average number of common shares outstanding (in shares) | 20,235,384 | 20,168,529 | 20,199,933 | 19,678,031 |
Plus: Common share equivalents (in shares) | 0 | 3,753 | 1,356 | 5,491 |
Diluted weighted-average number of common shares outstanding (in shares) | 20,235,384 | 20,172,282 | 20,201,289 | 19,683,522 |
Basic (in dollars per share) | $ 0.20 | $ 0.12 | $ 0.50 | $ 0.39 |
Diluted (in dollars per share) | $ 0.20 | $ 0.12 | $ 0.50 | $ 0.39 |
Note 15 - Other Comprehensive_3
Note 15 - Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Reclassification adjustment for gains included in net income | $ (433) | $ (379) | $ (1,504) | $ (702) |
Income tax expense | 792 | 513 | 2,049 | 1,582 |
Net of tax amount | 342 | 300 | 1,188 | 555 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification adjustment for gains included in net income | (433) | (379) | (1,504) | (702) |
Income tax expense | 91 | 79 | 316 | 147 |
Net of tax amount | $ (342) | $ (300) | $ (1,188) | $ (555) |
Note 15 - Other Comprehensive_4
Note 15 - Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balances | $ 145,357 | $ 129,706 | $ 133,607 | $ 97,219 |
Total other comprehensive income | 1,419 | 1,252 | 9,142 | 9,105 |
Balances | 150,046 | 132,567 | 150,046 | 132,567 |
AOCI Attributable to Parent [Member] | ||||
Balances | 10,779 | 3,313 | 3,056 | (4,540) |
Other comprehensive income before reclassifications | 1,761 | 1,552 | 10,330 | 9,660 |
Amount reclassified from accumulated other comprehensive income | (342) | (300) | (1,188) | (555) |
Total other comprehensive income | 1,419 | 1,252 | 9,142 | 9,105 |
Balances | $ 12,198 | $ 4,565 | $ 12,198 | $ 4,565 |