Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 29, 2021 | |
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 | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
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, $1.25 par value | |
Trading Symbol | FNCB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 19,985,837 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and due from banks | $ 24,612 | $ 24,822 |
Interest-bearing deposits in other banks | 149,581 | 130,989 |
Total cash and cash equivalents | 174,193 | 155,811 |
Available-for-sale debt securities, at fair value | 470,323 | 350,035 |
Equity securities, at fair value | 4,777 | 3,026 |
Restricted stock, at cost | 1,826 | 1,745 |
Loans held for sale | 491 | 2,107 |
Loans and leases, net of allowance for loan and lease losses of $12,018 at September 30, 2021 and $11,950, at December 31, 2020 | 946,390 | 889,152 |
Bank premises and equipment, net | 17,269 | 17,579 |
Accrued interest receivable | 4,593 | 4,286 |
Bank-owned life insurance | 33,355 | 31,712 |
Other assets | 12,674 | 10,226 |
Total assets | 1,665,891 | 1,465,679 |
Liabilities | ||
Demand (non-interest-bearing) | 321,952 | 271,499 |
Interest-bearing | 1,160,114 | 1,015,949 |
Total deposits | 1,482,066 | 1,287,448 |
Borrowed funds | 10,310 | 10,310 |
Accrued interest payable | 56 | 108 |
Other liabilities | 11,509 | 11,953 |
Total liabilities | 1,503,941 | 1,309,819 |
Shareholders' equity | ||
Preferred shares ($1.25 par) Authorized: 20,000,000 shares at September 30, 2021 and December 31, 2020 Issued and outstanding: 0 shares at September 30, 2021 and December 31, 2020 | 0 | 0 |
Common shares ($1.25 par) Authorized: 50,000,000 shares at September 30, 2021 and December 31, 2020 Issued and outstanding: 19,985,837 shares at September 30, 2021 and 20,245,649 shares at December 31, 2020 | 24,982 | 25,307 |
Additional paid-in capital | 80,000 | 81,587 |
Retained earnings | 48,541 | 35,080 |
Accumulated other comprehensive income | 8,427 | 13,886 |
Total shareholders' equity | 161,950 | 155,860 |
Total liabilities and shareholders’ equity | $ 1,665,891 | $ 1,465,679 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans, allowance for loan and lease losses | $ 12,018 | $ 11,950 |
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) | 19,985,837 | 20,245,649 |
Common shares, outstanding (in shares) | 19,985,837 | 20,245,649 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest income | ||||
Interest and fees on loans and leases | $ 10,696 | $ 9,078 | $ 30,724 | $ 27,277 |
Interest and dividends on securities: | ||||
Taxable | 2,070 | 1,698 | 5,956 | 5,242 |
Tax-exempt | 517 | 463 | 1,519 | 908 |
Dividends | 55 | 62 | 176 | 184 |
Total interest and dividends on securities | 2,642 | 2,223 | 7,651 | 6,334 |
Interest on interest-bearing deposits in other banks | 31 | 1 | 35 | 25 |
Total interest income | 13,369 | 11,302 | 38,410 | 33,636 |
Interest expense | ||||
Interest on deposits | 582 | 1,291 | 2,098 | 4,327 |
Interest on borrowed funds: | ||||
Federal Reserve Bank Discount Window advances | 0 | 18 | 0 | 32 |
Federal Home Loan Bank of Pittsburgh advances | 0 | 95 | 0 | 474 |
Junior subordinated debentures | 47 | 52 | 143 | 200 |
Total interest on borrowed funds | 47 | 165 | 143 | 706 |
Total interest expense | 629 | 1,456 | 2,241 | 5,033 |
Net interest income before (credit) provision for loan and lease losses | 12,740 | 9,846 | 36,169 | 28,603 |
(Credit) provision for loan and lease losses | (513) | 74 | (172) | 2,056 |
Net interest income after (credit) provision for loan and lease losses | 13,253 | 9,772 | 36,341 | 26,547 |
Non-interest income | ||||
Deposit service charges | 1,009 | 844 | 2,839 | 2,377 |
Net gain on the sale of available-for-sale debt securities | 0 | 433 | 213 | 1,504 |
Net gain on equity securities | 156 | 846 | 556 | 864 |
Net gain on the sale of mortgage loans held for sale | 41 | 186 | 312 | 465 |
Loan-related fees | 77 | 119 | 314 | 200 |
Income from bank-owned life insurance | 139 | 118 | 402 | 366 |
Bank-owned life insurance settlement | 0 | 0 | 426 | 0 |
Loan referral fees | 38 | 76 | 54 | 338 |
Merchant services revenue | 159 | 154 | 453 | 401 |
Other | 223 | 194 | 756 | 650 |
Total non-interest income | 1,842 | 2,970 | 6,325 | 7,165 |
Non-interest expense | ||||
Salaries and employee benefits | 4,022 | 3,835 | 11,796 | 11,262 |
Occupancy expense | 450 | 500 | 1,490 | 1,520 |
Equipment expense | 319 | 381 | 1,005 | 1,112 |
Advertising expense | 160 | 175 | 491 | 495 |
Data processing expense | 961 | 754 | 2,665 | 2,188 |
Regulatory assessments | 160 | 123 | 460 | 256 |
Bank shares tax | 352 | 263 | 1,009 | 878 |
Professional fees | 153 | 279 | 524 | 660 |
Insurance expense | 137 | 126 | 425 | 373 |
Directors fees | 230 | 239 | 401 | 416 |
Other operating expenses | 556 | 1,168 | 1,631 | 2,312 |
Total non-interest expense | 7,500 | 7,843 | 21,897 | 21,472 |
Income before income tax expense | 7,595 | 4,899 | 20,769 | 12,240 |
Income tax expense | 1,244 | 792 | 3,356 | 2,049 |
Net income | $ 6,351 | $ 4,107 | $ 17,413 | $ 10,191 |
Earnings per share | ||||
Basic (in dollars per share) | $ 0.31 | $ 0.20 | $ 0.86 | $ 0.50 |
Diluted (in dollars per share) | 0.31 | 0.20 | 0.86 | 0.50 |
Cash dividends declared per common share (in dollars per share) | $ 0.075 | $ 0.055 | $ 0.195 | $ 0.165 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||||
Basic (in shares) | 19,997,021 | 20,235,384 | 20,152,934 | 20,199,933 |
Diluted (in shares) | 20,009,387 | 20,235,384 | 20,164,331 | 20,201,289 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 6,351 | $ 4,107 | $ 17,413 | $ 10,191 |
Other comprehensive (loss) income: | ||||
Unrealized (losses) gains on available-for-sale debt securities | (3,521) | 2,215 | (6,895) | 13,209 |
Taxes | 739 | (465) | 1,448 | (2,774) |
Net of tax amount | (2,782) | 1,750 | (5,447) | 10,435 |
Reclassification adjustment for gains included in net income | 0 | (433) | (213) | (1,504) |
Taxes | 0 | 91 | 45 | 316 |
Net of tax amount | 0 | (342) | (168) | (1,188) |
Derivative adjustments | 15 | 14 | 198 | (133) |
Taxes | (3) | (3) | (42) | 28 |
Net of tax amount | 12 | 11 | 156 | (105) |
Total other comprehensive (loss) income | (2,770) | 1,419 | (5,459) | 9,142 |
Comprehensive income | $ 3,581 | $ 5,526 | $ 11,954 | $ 19,333 |
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, 2019 | 20,171,408 | ||||
Balances at Dec. 31, 2019 | $ 25,214 | $ 81,130 | $ 24,207 | $ 3,056 | $ 133,607 |
Net income | 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 | 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 |
Balances (in shares) at Dec. 31, 2020 | 20,245,649 | ||||
Balances at Dec. 31, 2020 | $ 25,307 | 81,587 | 35,080 | 13,886 | 155,860 |
Net income | 0 | 0 | 17,413 | 0 | 17,413 |
Cash dividends | 0 | 0 | (3,928) | 0 | (3,928) |
Restricted stock awards | $ 0 | 277 | 0 | 0 | 277 |
Common shares issued under long-term incentive compensation plan (in shares) | 62,796 | ||||
Common shares issued under long-term incentive compensation plan | $ 78 | 72 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 8,151 | 8,151 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 10 | 48 | (24) | 0 | $ 34 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | (5,459) | $ (5,459) |
Repurchase of common shares (in shares) | (330,759) | (330,759) | |||
Repurchase of common shares | $ (413) | (1,984) | 0 | 0 | $ (2,397) |
Balances (in shares) at Sep. 30, 2021 | 19,985,837 | ||||
Balances at Sep. 30, 2021 | $ 24,982 | 80,000 | 48,541 | 8,427 | 161,950 |
Balances (in shares) at Jun. 30, 2021 | 20,102,602 | ||||
Balances at Jun. 30, 2021 | $ 25,128 | 80,591 | 43,698 | 11,197 | 160,614 |
Net income | 0 | 0 | 6,351 | 0 | 6,351 |
Cash dividends | 0 | 0 | (1,499) | 0 | (1,499) |
Restricted stock awards | $ 0 | 99 | 0 | 0 | 99 |
Common shares issued under long-term incentive compensation plan (in shares) | 18,558 | ||||
Common shares issued under long-term incentive compensation plan | $ 23 | 127 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 1,906 | 1,906 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 2 | 12 | (9) | 0 | $ 5 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | (2,770) | (2,770) |
Repurchase of common shares (in shares) | (137,229) | ||||
Repurchase of common shares | $ (171) | (829) | 0 | 0 | (1,000) |
Balances (in shares) at Sep. 30, 2021 | 19,985,837 | ||||
Balances at Sep. 30, 2021 | $ 24,982 | $ 80,000 | $ 48,541 | $ 8,427 | $ 161,950 |
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, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Cash dividends declared, per share (in dollars per share) | $ 0.075 | $ 0.055 | $ 0.195 | $ 0.165 |
Other comprehensive income , tax | $ 736 | $ 377 | $ 1,451 | $ 2,430 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 17,413 | $ 10,191 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 1,445 | 615 |
Equity in trust | (4) | (6) |
Depreciation of bank premises and equipment | 1,169 | 1,221 |
Amortization of loan origination (fees) costs | (3,880) | 447 |
Valuation adjustment for loan servicing rights | (16) | 23 |
Stock-based compensation expense | 427 | 409 |
(Credit) provision for loan and lease losses | (172) | 2,056 |
Valuation adjustment for other real estate owned | (36) | 27 |
Valuation adjustment for off-balance sheet commitments | (213) | 26 |
Net gain on the sale of available-for-sale debt securities | (213) | (1,504) |
Net gain on equity securities | (556) | (864) |
Net gain on the sale of mortgage loans held for sale | (312) | (465) |
Bank-owned life insurance settlement | (426) | 0 |
Income from bank-owned life insurance | (402) | (366) |
Proceeds from the sale of mortgage loans held for sale | 7,352 | 10,962 |
Funds used to originate mortgage loans held for sale | (5,424) | (10,098) |
Decrease in net deferred tax assets | 391 | 2,049 |
Increase in accrued interest receivable | (307) | (1,459) |
(Increase) decrease in other assets | (1,247) | 2,449 |
Decrease in accrued interest payable | (52) | (119) |
Decrease in other liabilities | (265) | (465) |
Total adjustments | (2,741) | 4,938 |
Net cash provided by operating activities | 14,672 | 15,129 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale debt securities | 26,969 | 14,410 |
Proceeds from the sale of available-for-sale debt securities | 2,981 | 62,805 |
Proceeds from the sale/transfer of equity securities | 0 | 1,223 |
Purchases of available-for-sale debt securities | (158,578) | (113,181) |
Purchases of equity securities | (1,195) | (500) |
(Purchase) redemption of restricted stock | (81) | 2,013 |
Net increase in loans and leases to customers | (53,217) | (130,853) |
Proceeds from the sale of other real estate owned | 178 | 204 |
Proceeds from bank-owned life insurance settlement | 1,685 | 0 |
Purchase of bank-owned life insurance | (2,500) | 0 |
Purchases of bank premises and equipment | (859) | (1,116) |
Net cash used in investing activities | (184,617) | (164,995) |
Cash flows from financing activities: | ||
Net increase in deposits | 194,618 | 270,529 |
Repayments of Federal Home Loan Bank of Pittsburgh advances - overnight | 0 | (14,100) |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 0 | 20,000 |
Repayment of Federal Home loan Bank of Pittsburgh advances - term | 0 | (52,809) |
Repurchase of common shares | (2,397) | 0 |
Proceeds from issuance of common shares, net of discount | 34 | 31 |
Cash dividends paid | (3,928) | (3,334) |
Net cash provided by financing activities | 188,327 | 220,317 |
Net increase in cash and cash equivalents | 18,382 | 70,451 |
Cash and cash equivalents at beginning of period | 155,811 | 34,565 |
Cash and cash equivalents at end of period | 174,193 | 105,016 |
Supplemental cash flow information | ||
Interest | 2,293 | 5,152 |
Taxes | 3,180 | 0 |
Other transactions: | ||
Loans transferred to OREO | 138 | 0 |
Available-for-sale debt securities purchased, not settled | 0 | 0 |
Equity securities without a readily determinable fair value reclassified to equity securities | 0 | 1,658 |
Lease liabilities arising from obtaining right-of-use assets | $ 42 | $ 16 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
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 nine September 30, 2021 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, 2020 |
Note 2 - New Authoritative Acco
Note 2 - New Authoritative Accounting Guidance | 9 Months Ended |
Sep. 30, 2021 | |
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, four 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 10 December 31, 2020 ( "2020 |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2021 | |
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, 2021 December 31, 2020 September 30, 2021 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: U.S. Treasury securities $ 20,073 $ - $ 174 $ 19,899 Obligations of state and political subdivisions 206,549 9,783 559 215,773 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 105,571 1,635 1,075 106,131 Collateralized mortgage obligations - commercial 3,694 124 28 3,790 Mortgage-backed securities 22,418 390 109 22,699 Private collateralized mortgage obligations 61,317 180 449 61,048 Corporate debt securities 29,300 876 83 30,093 Asset-backed securities 10,076 75 7 10,144 Negotiable certificates of deposit 744 2 - 746 Total available-for-sale debt securities $ 459,742 $ 13,065 $ 2,484 $ 470,323 December 31, 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 $ 192,851 $ 13,012 $ 35 $ 205,828 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 54,091 2,940 59 56,972 Collateralized mortgage obligations - commercial 3,721 183 - 3,904 Mortgage-backed securities 12,452 588 14 13,026 Private collateralized mortgage obligations 37,926 352 79 38,199 Corporate debt securities 23,800 790 10 24,580 Asset-backed securities 7,505 46 25 7,526 Total available-for-sale debt securities $ 332,346 $ 17,911 $ 222 $ 350,035 Except for securities of U.S. government and government-sponsored agencies, there were no 10.0% September 30, 2021 December 31, 2020 Securities with carrying amounts of $367.3 million at September 30, 2021 December 31, 2020 The following table presents the maturity information of FNCB’s available-for-sale debt securities at September 30, 2021 may not not September 30, 2021 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 1,420 $ 1,440 After one year through five years 67,207 71,198 After five years through ten years 72,051 73,413 After ten years 115,988 120,460 Mortgage-backed securities 22,418 22,699 Collateralized mortgage obligations 170,582 170,969 Asset-backed securities 10,076 10,144 Total available-for-sale debt securities $ 459,742 $ 470,323 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, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Available-for-sale debt securities: Gross proceeds received on sales $ - $ 10,917 $ 2,981 $ 62,805 Gross realized gains - 474 213 1,650 Gross realized losses - (41 ) - (146 ) The following tables present the number, fair value and gross unrealized losses of available-for-sale debt securities with unrealized losses at September 30, 2021 December 31, 2020 September 30, 2021 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 U.S. Treasury securities 9 $ 19,899 $ 174 - $ - $ - 9 $ 19,899 $ 174 Obligations of state and political subdivisions 35 29,413 559 - - - 35 29,413 559 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 19 60,209 1,024 1 1,627 51 20 61,836 1,075 Collateralized mortgage obligations - commercial 1 1,657 28 - - - 1 1,657 28 Mortgage-backed securities 4 11,900 109 - - - 4 11,900 109 Private collateralized mortgage obligations 14 27,636 411 2 4,233 38 16 31,869 449 Corporate debt securities 8 7,417 83 - - - 8 7,417 83 Asset-backed securities 2 1,185 4 2 1,404 3 4 2,589 7 Negotiable certificates of deposit (1) 1 248 - - - - 1 248 - Total available-for-sale debt securities 93 $ 159,564 $ 2,392 5 $ 7,264 $ 92 98 $ 166,828 $ 2,484 (1) Unrealized loss is less than $1 thousand. December 31, 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 6 $ 4,541 $ 35 - $ - $ - 6 $ 4,541 $ 35 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 7,019 59 - - - 2 7,019 59 Collateralized mortgage obligations - commercial - - - - - - - - - Mortgage-backed securities 1 2,103 14 - - - 1 2,103 14 Private collateralized mortgage obligations 3 7,857 42 1 2,256 37 4 10,113 79 Corporate debt securities 2 1,739 10 - - - 2 1,739 10 Asset-backed securities 2 746 13 1 1,591 12 3 2,337 25 Total available-for-sale debt securities 16 $ 24,005 $ 173 2 $ 3,847 $ 49 18 $ 27,852 $ 222 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 management intends to sell the security, and whether it is more likely than not Management performed a review of all securities in an unrealized loss position as of September 30, 2021 no may September 30, 2021 not not not September 30, 2021 Equity Securities Included in equity securities with readily determinable fair values at September 30, 2021 December 31, 2020 1 4 September 30, 2021 December 31, 2020. The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Net gains recognized on equity securities $ 156 $ 846 $ 556 $ 864 Less: net gains recognized on equity securities sold or transferred - 611 - 611 Unrealized gains on equity securities held $ 156 $ 235 $ 556 $ 253 Equity Securities without Readily Determinable Fair Values At September 30, 2021 December 31, 2020, March 30, 2021. not third September 30, 2021 December 31, 2020 not no September 30, 2021 December 31, 2020 Restricted Securities The following table presents FNCB's investment in restricted stock at September 30, 2021 December 31, 2020 no September 30, 2021 December 31, 2020 September 30, December 31, (in thousands) 2021 2020 Stock in Federal Home Loan Bank of Pittsburgh $ 1,816 $ 1,735 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 1,826 $ 1,745 |
Note 4 - Loans and Leases
Note 4 - Loans and Leases | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. The following table summarizes loans and leases receivable, net, by major category at September 30, 2021 December 31, 2020 September 30, December 31, (in thousands) 2021 2020 Residential real estate $ 224,307 $ 196,328 Commercial real estate 341,594 273,903 Construction, land acquisition and development 50,095 59,785 Commercial and industrial 209,809 238,435 Consumer 79,136 85,881 State and political subdivisions 56,060 49,009 Total loans and leases, gross 961,001 903,341 Unearned income (939 ) (110 ) Net deferred loan fees (1,654 ) (2,129 ) Allowance for loan and lease losses (12,018 ) (11,950 ) Loans and leases, net $ 946,390 $ 889,152 Included in commercial and industrial loans and leases at September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020, 100.0% may September 30, 2021 December 31, 2020. During the third 1st September 30, 2021, 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 6, FNCB originates 1 4 three nine September 30, 2021, 1 4 three nine September 30, 2020, three nine September 30, 2021 2020. September 30, 2021 December 31, 2020 1 4 The unpaid principal balance of loans serviced for others, which includes residential mortgages and SBA-guaranteed loans, was $81.0 million at September 30, 2021 December 31, 2020 There were no nine September 30, 2021 2, 2020 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 at the end of each quarter. This evaluation is inherently subjective, as it requires material estimates that may may 19 may may The following table summarizes activity in the ALLL by major category for the three nine September 30, 2021 2020 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, 2021 Allowance for loan and lease losses: Beginning balance, July, 1 2021 $ 1,858 $ 4,648 $ 493 $ 2,483 $ 1,177 $ 509 $ 1,117 $ 12,285 Charge-offs (8 ) - - (178 ) (69 ) - - (255 ) Recoveries - 392 13 10 86 - - 501 Provisions (credits) 141 (532 ) (38 ) 61 (74 ) (47 ) (24 ) (513 ) Ending balance, September 30, 2021 $ 1,991 $ 4,508 $ 468 $ 2,376 $ 1,120 $ 462 $ 1,093 $ 12,018 Three months ended September 30, 2020 Allowance for loan and lease 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 Nine months ended September 30, 2021 Allowance for loan and lease losses: Beginning balance, January 1, 2021 $ 1,715 $ 4,268 $ 538 $ 2,619 $ 1,319 $ 405 $ 1,086 $ 11,950 Charge-offs (14 ) - - (208 ) (530 ) - - (752 ) Recoveries 16 438 13 42 483 - - 992 Provisions (credits) 274 (198 ) (83 ) (77 ) (152 ) 57 7 (172 ) Ending balance, September 30, 2021 $ 1,991 $ 4,508 $ 468 $ 2,376 $ 1,120 $ 462 $ 1,093 $ 12,018 Nine months ended September 30, 2020 Allowance for loan and lease 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 The following table presents, by major category, the allocation of the ALLL and the related loan balance disaggregated based on the impairment methodology at September 30, 2021 December 31, 2020 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, 2021 Allowance for loan and lease losses: Individually evaluated for impairment $ 12 $ 15 $ - $ 9 $ - $ - $ - $ 36 Collectively evaluated for impairment 1,979 4,493 468 2,367 1,120 462 1,093 11,982 Total $ 1,991 $ 4,508 $ 468 $ 2,376 $ 1,120 $ 462 $ 1,093 $ 12,018 Loans and leases receivable: Individually evaluated for impairment $ 1,951 $ 8,042 $ - $ 581 $ - $ - $ - $ 10,574 Collectively evaluated for impairment 222,356 333,552 50,095 209,228 79,136 56,060 - 950,427 Total $ 224,307 $ 341,594 $ 50,095 $ 209,809 $ 79,136 $ 56,060 $ - $ 961,001 December 31, 2020 Allowance for loan and lease losses: Individually evaluated for impairment $ 13 $ 46 $ - $ 357 $ - $ - $ - $ 416 Collectively evaluated for impairment 1,702 4,222 538 2,262 1,319 405 1,086 11,534 Total $ 1,715 $ 4,268 $ 538 $ 2,619 $ 1,319 $ 405 $ 1,086 $ 11,950 Loans receivable: Individually evaluated for impairment $ 2,321 $ 8,448 $ 69 $ 897 $ - $ - $ - $ 11,735 Collectively evaluated for impairment 194,007 265,455 59,716 237,538 85,881 49,009 - 891,606 Total $ 196,328 $ 273,903 $ 59,785 $ 238,435 $ 85,881 $ 49,009 $ - $ 903,341 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 and leases receivable by major category and credit quality indicator at September 30, 2021 December 31, 2020 Credit Quality Indicators September 30, 2021 Commercial Loans and Leases Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 41,181 $ 460 $ 79 $ - $ - $ 41,720 $ 181,916 $ 671 $ 182,587 $ 224,307 Commercial real estate 325,588 3,450 12,556 - - 341,594 - - - 341,594 Construction, land acquisition and development 43,786 - - - - 43,786 6,309 - 6,309 50,095 Commercial and industrial 205,215 819 1,388 - - 207,422 2,387 - 2,387 209,809 Consumer - - - - - - 78,909 227 79,136 79,136 State and political subdivisions 56,053 - - - - 56,053 7 - 7 56,060 Total $ 671,823 $ 4,729 $ 14,023 $ - $ - $ 690,575 $ 269,528 $ 898 $ 270,426 $ 961,001 Credit Quality Indicators December 31, 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 $ 35,839 $ 494 $ 209 $ - $ - $ 36,542 $ 158,896 $ 890 $ 159,786 $ 196,328 Commercial real estate 256,390 4,349 13,164 - - 273,903 - - - 273,903 Construction, land acquisition and development 55,697 - - - - 55,697 4,088 - 4,088 59,785 Commercial and industrial 233,370 961 1,104 - - 235,435 3,000 - 3,000 238,435 Consumer - - - - - - 85,374 507 85,881 85,881 State and political subdivisions 48,998 - - - - 48,998 11 - 11 49,009 Total $ 630,294 $ 5,804 $ 14,477 $ - $ - $ 650,575 $ 251,369 $ 1,397 $ 252,766 $ 903,341 Included in loans and leases 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 $4.5 million and $5.6 million at September 30, 2021 December 31, 2020 six no may may 90 90 September 30, 2021 December 31, 2020 The following tables present the delinquency status of past due and non-accrual loans and leases at September 30, 2021 December 31, 2020 September 30, 2021 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 and leases: Residential real estate $ 223,483 $ 74 $ - $ - $ 223,557 Commercial real estate 338,615 - - - 338,615 Construction, land acquisition and development 50,095 - - - 50,095 Commercial and industrial 208,976 311 3 - 209,290 Consumer 77,904 878 127 - 78,909 State and political subdivisions 56,060 - - - 56,060 Total performing (accruing) loans and leases 955,133 1,263 130 - 956,526 Non-accrual loans: Residential real estate 88 10 236 416 750 Commercial real estate 1,407 - - 1,572 2,979 Construction, land acquisition and development - - - - - Commercial and industrial 519 - - - 519 Consumer 169 53 2 3 227 State and political subdivisions - - - - - Total non-accrual loans 2,183 63 238 1,991 4,475 Total loans and leases receivable $ 957,316 $ 1,326 $ 368 $ 1,991 $ 961,001 December 31, 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 $ 194,820 $ 251 $ 159 $ - $ 195,230 Commercial real estate 270,059 606 - - 270,665 Construction, land acquisition and development 59,785 - - - 59,785 Commercial and industrial 237,262 419 16 - 237,697 Consumer 83,486 1,485 403 - 85,374 State and political subdivisions 49,009 - - - 49,009 Total performing (accruing) loans 894,421 2,761 578 - 897,760 Non-accrual loans: Residential real estate 642 39 - 417 1,098 Commercial real estate 1,484 - - 1,754 3,238 Construction, land acquisition and development - - - - - Commercial and industrial 614 - 124 - 738 Consumer 114 132 96 165 507 State and political subdivisions - - - - - Total non-accrual loans 2,854 171 220 2,336 5,581 Total loans receivable $ 897,275 $ 2,932 $ 798 $ 2,336 $ 903,341 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, 2021 December 31, 2020 not not 450. $100 450 September 30, 2021 December 31, 2020 September 30, 2021 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 597 $ 663 $ - Commercial real estate 2,734 4,427 - Construction, land acquisition and development - - - Commercial and industrial 328 358 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,659 5,448 - With a related allowance recorded: Residential real estate 1,354 1,354 12 Commercial real estate 5,308 5,309 15 Construction, land acquisition and development - - - Commercial and industrial 253 470 9 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 6,915 7,133 36 Total impaired loans: Residential real estate 1,951 2,017 12 Commercial real estate 8,042 9,736 15 Construction, land acquisition and development - - - Commercial and industrial 581 828 9 Consumer - - - State and political subdivisions - - - Total impaired loans $ 10,574 $ 12,581 $ 36 December 31, 2020 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 859 $ 957 $ - Commercial real estate 2,729 5,311 - Construction, land acquisition and development 69 69 - Commercial and industrial 5 5 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,662 6,342 - With a related allowance recorded: Residential real estate 1,462 1,462 13 Commercial real estate 5,719 5,719 46 Construction, land acquisition and development - - - Commercial and industrial 892 1,130 357 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 8,073 8,311 416 Total impaired loans: Residential real estate 2,321 2,419 13 Commercial real estate 8,448 11,030 46 Construction, land acquisition and development 69 69 - Commercial and industrial 897 1,135 357 Consumer - - - State and political subdivisions - - - Total impaired loans $ 11,735 $ 14,653 $ 416 The following table presents the average balance and interest income by loan category recognized on impaired loans for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 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 $ 1,957 $ 18 $ 2,196 $ 16 $ 2,047 $ 54 $ 2,375 $ 56 Commercial real estate 7,914 56 9,273 59 8,127 169 10,525 197 Construction, land acquisition and development - - 72 2 45 2 73 4 Commercial and industrial 600 1 1,000 4 796 5 1,083 10 Consumer - - 276 2 - - 250 5 State and political subdivisions - - - - - - - - Total impaired loans $ 10,471 $ 75 $ 12,817 $ 83 $ 11,015 $ 230 $ 14,306 $ 272 ( 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 $52 thousand and $167 thousand for the three nine September 30, 2021 three nine September 30, 2020, Troubled Debt Restructured Loans TDRs were $6.9 million and $7.7 million at September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 not September 30, 2021 The modification of the terms of loans classified as TDRs may one There were no loans modified as TDRs during the three nine September 30, 2021. three September 30, 2020. nine September 30, 2020 three one 12 90 three nine September 30, 2021 2020. Residential Real Estate Loan Foreclosures During the nine September 30, 2021, third 2021. nine September 30, 2021. September 30, 2021. September 30, 2021. There were no residential real estate properties foreclosed upon during the three nine September 30, 2020 September 30, 2020. |
Note 5 - Income Taxes
Note 5 - Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 5. 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, 2021 2020 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,594 21.00 % $ 1,029 21.00 % $ 4,361 21.00 % $ 2,570 21.00 % Add (deduct): Tax effects of tax free interest income (178 ) (2.34 )% (179 ) (3.65 )% (542 ) (2.61 )% (450 ) (3.68 )% Non-deductible interest expense 11 0.14 % 5 0.10 % 34 0.16 % 14 0.11 % Bank-owned life insurance (29 ) (0.38 )% (25 ) (0.51 )% (174 ) (0.84 )% (77 ) (0.63 )% Gains on equity securities (33 ) (0.43 )% - - (117 ) (0.56 )% - - Other items, net (121 ) (1.61 )% (38 ) (0.77 )% (206 ) (0.99 )% (8 ) (0.06 )% Income tax provision $ 1,244 16.38 % $ 792 16.17 % $ 3,356 16.16 % $ 2,049 16.74 % 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 September 30, 2021 September 30, 2021 December 31, 2020 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 6. 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, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance, beginning of period $ 100,500 $ 93,573 $ 98,935 $ 77,896 Additions, new loans and advances 63,471 17,424 113,150 48,120 Repayments (70,593 ) (7,504 ) (95,050 ) (22,523 ) Other (1) - - (23,657 ) - Balance, end of period $ 93,378 $ 103,493 $ 93,378 $ 103,493 (1) Other represents loans to related parties that ceased being related parties during the year At September 30, 2021 not Deposits from directors, executive officers and their related parties held by the Bank at September 30, 2021 December 31, 2020 nine September 30, 2021 2020 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, 2021 2020. |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 7 . 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 FNCB's 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, 2021 three nine September 30, 2021 Operating lease expense associated with bank branches and office space is included in occupancy expense, while operating lease expenses associated with automobiles and office equipment are included in equipment expense in the consolidated statements of income. Total rental expense under leases amounted to $287 thousand and $312 thousand, respectively, at September 30, 2021 2020. The following table summarizes the maturity of remaining operating lease liabilities as of September 30, 2021 (in thousands) September 30, 2021 2021 $ 93 2022 397 2023 366 2024 330 2025 335 2026 and thereafter 2,742 Total lease payments 4,263 Less: imputed interest 851 Present value of operating lease liabilities $ 3,412 The following table presents other information related to our operating leases: (dollars in thousands) September 30, 2021 Weighted-average remaining lease term (in years) 12.8 Weighted-average discount rate 3.30 % 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 8 - Stock Compensation Pla
Note 8 - Stock Compensation Plans | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 8 . 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, 2021 2020 September 30, 2021 nine September 30, 2021 2020 September 30, 2021 2020 On July 1, 2021, nine July 1, 2021. The following table summarizes the activity related to FNCB’s unvested restricted stock awards during the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 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 174,297 $ 7.37 169,632 $ 7.04 159,913 $ 7.07 128,150 $ 7.76 Awards granted - - - - 66,065 7.98 75,924 6.07 Forfeitures - - (2,753 ) 7.08 (7,443 ) 7.38 (5,412 ) 6.67 Vestings - - (6,637 ) 6.44 (44,238 ) 7.20 (38,420 ) 7.48 Total outstanding, end of period 174,297 $ 7.37 160,242 $ 7.06 174,297 $ 7.37 160,242 $ 7.06 |
Note 9 - Regulatory Matters_Sub
Note 9 - Regulatory Matters/Subsequent Event | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 9 . Regulatory Matters/Subsequent Event 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, 2021 three nine September 30, 2020. three nine September 30, 2021 2020 three nine September 30, 2021, 2020. September 30, 2021 October 27, 2021, fourth 2021 December 15, 2021 December 1, 2021 On January 27, 2021, may no February 3, 2021 December 31, 2021, 10b5 1 not may no September 30, 2021, The holding company is considered a small bank holding company and is exempt from risk-based capital and leverage rules, including Basel III. FNCB and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on FNCB’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, FNCB and the Bank must meet specific capital guidelines that involve quantitative measures of FNCB's and the Bank's assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. FNCB's and the Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Management believes, as of September 30, 2021 December 31, 2020 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, 2021 December 31, 2020 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, 2021 Total capital (to risk-weighted assets) $ 167,309 15.91 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 154,891 14.73 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 154,891 14.73 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 154,891 9.80 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 1,051,709 Total average assets 1,580,457 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, 2020 Total capital (to risk-weighted assets) $ 149,173 15.79 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 137,356 14.54 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 137,356 14.54 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 137,356 9.57 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 944,546 Total average assets 1,434,776 |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10 . 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 Treasury securities, 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, 2021 September 30, 2021, 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, 2021 December 31, 2020 Fair Value Measurements at September 30, 2021 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: U.S. Treasury securities $ 19,899 $ - $ 19,899 $ - Obligations of state and political subdivisions 215,773 - 215,773 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 106,131 - 106,131 - Collateralized mortgage obligations - commercial 3,790 - 3,790 - Mortgage-backed securities 22,699 - 22,699 - Private collateralized mortgage obligations 61,048 - 61,048 - Corporate debt securities 30,093 - 18,314 11,779 Asset-backed securities 10,144 - 10,144 - Negotiable certificates of deposit 746 - 746 - Subtotal available-for-sale debt securities 470,323 - 458,544 11,779 Equity securities, at fair value 4,777 4,777 - - Derivative assets 212 - 212 - Total $ 475,312 $ 4,777 $ 458,756 $ 11,779 Financial liabilities: Derivative liabilities $ 127 $ - $ 127 $ - Total $ 127 $ - $ 127 $ - Fair Value Measurements at December 31, 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 $ 205,828 $ - $ 205,828 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 56,972 - 56,972 - Collateralized mortgage obligations - commercial 3,904 - 3,904 - Mortgage-backed securities 13,026 - 13,026 - Private collateralized mortgage obligations 38,199 - 38,199 - Corporate debt securities 24,580 - 8,156 16,424 Asset-backed securities 7,526 - 7,526 - Subtotal available-for-sale debt securities 350,035 - 333,612 16,424 Equity securities, at fair value 3,026 3,026 - - Derivative assets 23 - 23 Total $ 353,084 $ 3,026 $ 333,635 $ 16,424 Financial liabilities: Derivative liabilities $ 143 $ - $ 143 $ - Total $ 143 $ - $ 143 $ - During the nine September 30, 2021, 3 2. not third four first three 2021, four three September 30, 2021. eight 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 three nine September 30, 2021 2020 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities Corporate Debt Securities For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance at January 1, $ 16,609 $ 11,713 $ 16,424 $ 5,150 Additions - - 4,000 8,800 Redemptions (1,000 ) - (1,000 ) - Transfer to Level 2 (3,603 ) - (7,550 ) - Sales - - - - Total gains or losses (realized/unrealized): Included in earnings - - - - Included in other comprehensive income (227 ) 2,244 (95 ) 7 Balance at September 30, $ 11,779 $ 13,957 $ 11,779 $ 13,957 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, 2021 December 31, 2020 3 September 30, 2021 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 4,547 $ 12 $ 4,535 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 6,027 24 6,003 Discounted cash flows Discount rate 3.00% 8.75% Other real estate owned 58 4 54 Appraisal of collateral Selling cost 10.0 % December 31, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 4,244 $ 218 $ 4,026 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 7,491 198 7,293 Discounted cash flows Discount rate 3.00% - 8.75% Other real estate owned 58 - 58 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, 2021 December 31, 2020 not not not may Fair Value September 30, 2021 December 31, 2020 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 174,193 $ 174,193 $ 155,811 $ 155,811 Available-for-sale debt securities See table on page 21 470,323 470,323 350,035 350,035 Equity securities Level 1 4,777 4,777 3,026 3,026 Restricted stock Level 2 1,826 1,826 1,745 1,745 Loans held for sale Level 2 491 491 2,107 2,107 Loans, net Level 3 946,390 951,049 889,152 891,880 Accrued interest receivable Level 2 4,593 4,593 4,286 4,286 Equity securities without readily determinable fair values Level 3 500 500 500 500 Servicing rights Level 3 285 546 324 479 Derivative assets Level 2 212 212 23 23 Financial liabilities Deposits Level 2 1,482,066 1,482,243 1,287,448 1,288,567 Borrowed funds Level 2 10,310 10,310 10,310 10,310 Accrued interest payable Level 2 56 56 108 108 Derivative liabilities Level 2 127 127 135 143 |
Note 11 - Earnings Per Share
Note 11 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11. 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, 2021 2020 The following table presents the calculation of both basic and diluted earnings per share of common stock for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share data) 2021 2020 2021 2020 Net income $ 6,351 $ 4,107 $ 17,413 $ 10,191 Basic weighted-average number of common shares outstanding 19,997,021 20,235,384 20,152,934 20,199,933 Plus: Common share equivalents 12,366 - 11,397 1,356 Diluted weighted-average number of common shares outstanding 20,009,387 20,235,384 20,164,331 20,201,289 Income per common share: Basic $ 0.31 $ 0.20 $ 0.86 $ 0.50 Diluted $ 0.31 $ 0.20 $ 0.86 $ 0.50 |
Note 12 - Other Comprehensive I
Note 12 - Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 12 . The following table summarizes the reclassifications out of accumulated other comprehensive income for the three nine September 30, 2021 2020 For the Three Months Ended September 30, 2021 For the Nine Months Ended September 30, 2021 (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 $ - Net gain on the sale of available-for-sale debt securities $ (213 ) Net gain on the sale of available-for-sale debt securities Taxes - Income taxes 45 Income taxes Net of tax amount $ - $ (168 ) 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 ) The following table summarizes the changes in accumulated other comprehensive income, net of tax for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance, beginning of period $ 11,197 $ 10,779 $ 13,886 $ 3,056 Other comprehensive (loss) income before reclassifications (2,770 ) 1,761 (5,291 ) 10,330 Amount reclassified from accumulated other comprehensive income - (342 ) (168 ) (1,188 ) Net other comprehensive (loss) income during the period (2,770 ) 1,419 (5,459 ) 9,142 Balance, end of period $ 8,427 $ 12,198 $ 8,427 $ 12,198 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2021 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: U.S. Treasury securities $ 20,073 $ - $ 174 $ 19,899 Obligations of state and political subdivisions 206,549 9,783 559 215,773 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 105,571 1,635 1,075 106,131 Collateralized mortgage obligations - commercial 3,694 124 28 3,790 Mortgage-backed securities 22,418 390 109 22,699 Private collateralized mortgage obligations 61,317 180 449 61,048 Corporate debt securities 29,300 876 83 30,093 Asset-backed securities 10,076 75 7 10,144 Negotiable certificates of deposit 744 2 - 746 Total available-for-sale debt securities $ 459,742 $ 13,065 $ 2,484 $ 470,323 December 31, 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 $ 192,851 $ 13,012 $ 35 $ 205,828 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 54,091 2,940 59 56,972 Collateralized mortgage obligations - commercial 3,721 183 - 3,904 Mortgage-backed securities 12,452 588 14 13,026 Private collateralized mortgage obligations 37,926 352 79 38,199 Corporate debt securities 23,800 790 10 24,580 Asset-backed securities 7,505 46 25 7,526 Total available-for-sale debt securities $ 332,346 $ 17,911 $ 222 $ 350,035 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2021 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 1,420 $ 1,440 After one year through five years 67,207 71,198 After five years through ten years 72,051 73,413 After ten years 115,988 120,460 Mortgage-backed securities 22,418 22,699 Collateralized mortgage obligations 170,582 170,969 Asset-backed securities 10,076 10,144 Total available-for-sale debt securities $ 459,742 $ 470,323 |
Gain (Loss) on Securities [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Available-for-sale debt securities: Gross proceeds received on sales $ - $ 10,917 $ 2,981 $ 62,805 Gross realized gains - 474 213 1,650 Gross realized losses - (41 ) - (146 ) Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Net gains recognized on equity securities $ 156 $ 846 $ 556 $ 864 Less: net gains recognized on equity securities sold or transferred - 611 - 611 Unrealized gains on equity securities held $ 156 $ 235 $ 556 $ 253 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2021 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 U.S. Treasury securities 9 $ 19,899 $ 174 - $ - $ - 9 $ 19,899 $ 174 Obligations of state and political subdivisions 35 29,413 559 - - - 35 29,413 559 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 19 60,209 1,024 1 1,627 51 20 61,836 1,075 Collateralized mortgage obligations - commercial 1 1,657 28 - - - 1 1,657 28 Mortgage-backed securities 4 11,900 109 - - - 4 11,900 109 Private collateralized mortgage obligations 14 27,636 411 2 4,233 38 16 31,869 449 Corporate debt securities 8 7,417 83 - - - 8 7,417 83 Asset-backed securities 2 1,185 4 2 1,404 3 4 2,589 7 Negotiable certificates of deposit (1) 1 248 - - - - 1 248 - Total available-for-sale debt securities 93 $ 159,564 $ 2,392 5 $ 7,264 $ 92 98 $ 166,828 $ 2,484 (1) Unrealized loss is less than $1 thousand. December 31, 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 6 $ 4,541 $ 35 - $ - $ - 6 $ 4,541 $ 35 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 7,019 59 - - - 2 7,019 59 Collateralized mortgage obligations - commercial - - - - - - - - - Mortgage-backed securities 1 2,103 14 - - - 1 2,103 14 Private collateralized mortgage obligations 3 7,857 42 1 2,256 37 4 10,113 79 Corporate debt securities 2 1,739 10 - - - 2 1,739 10 Asset-backed securities 2 746 13 1 1,591 12 3 2,337 25 Total available-for-sale debt securities 16 $ 24,005 $ 173 2 $ 3,847 $ 49 18 $ 27,852 $ 222 |
Investment [Table Text Block] | September 30, December 31, (in thousands) 2021 2020 Stock in Federal Home Loan Bank of Pittsburgh $ 1,816 $ 1,735 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 1,826 $ 1,745 |
Note 4 - Loans and Leases (Tabl
Note 4 - Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, (in thousands) 2021 2020 Residential real estate $ 224,307 $ 196,328 Commercial real estate 341,594 273,903 Construction, land acquisition and development 50,095 59,785 Commercial and industrial 209,809 238,435 Consumer 79,136 85,881 State and political subdivisions 56,060 49,009 Total loans and leases, gross 961,001 903,341 Unearned income (939 ) (110 ) Net deferred loan fees (1,654 ) (2,129 ) Allowance for loan and lease losses (12,018 ) (11,950 ) Loans and leases, net $ 946,390 $ 889,152 |
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, 2021 Allowance for loan and lease losses: Beginning balance, July, 1 2021 $ 1,858 $ 4,648 $ 493 $ 2,483 $ 1,177 $ 509 $ 1,117 $ 12,285 Charge-offs (8 ) - - (178 ) (69 ) - - (255 ) Recoveries - 392 13 10 86 - - 501 Provisions (credits) 141 (532 ) (38 ) 61 (74 ) (47 ) (24 ) (513 ) Ending balance, September 30, 2021 $ 1,991 $ 4,508 $ 468 $ 2,376 $ 1,120 $ 462 $ 1,093 $ 12,018 Three months ended September 30, 2020 Allowance for loan and lease 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 Nine months ended September 30, 2021 Allowance for loan and lease losses: Beginning balance, January 1, 2021 $ 1,715 $ 4,268 $ 538 $ 2,619 $ 1,319 $ 405 $ 1,086 $ 11,950 Charge-offs (14 ) - - (208 ) (530 ) - - (752 ) Recoveries 16 438 13 42 483 - - 992 Provisions (credits) 274 (198 ) (83 ) (77 ) (152 ) 57 7 (172 ) Ending balance, September 30, 2021 $ 1,991 $ 4,508 $ 468 $ 2,376 $ 1,120 $ 462 $ 1,093 $ 12,018 Nine months ended September 30, 2020 Allowance for loan and lease 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 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, 2021 Allowance for loan and lease losses: Individually evaluated for impairment $ 12 $ 15 $ - $ 9 $ - $ - $ - $ 36 Collectively evaluated for impairment 1,979 4,493 468 2,367 1,120 462 1,093 11,982 Total $ 1,991 $ 4,508 $ 468 $ 2,376 $ 1,120 $ 462 $ 1,093 $ 12,018 Loans and leases receivable: Individually evaluated for impairment $ 1,951 $ 8,042 $ - $ 581 $ - $ - $ - $ 10,574 Collectively evaluated for impairment 222,356 333,552 50,095 209,228 79,136 56,060 - 950,427 Total $ 224,307 $ 341,594 $ 50,095 $ 209,809 $ 79,136 $ 56,060 $ - $ 961,001 December 31, 2020 Allowance for loan and lease losses: Individually evaluated for impairment $ 13 $ 46 $ - $ 357 $ - $ - $ - $ 416 Collectively evaluated for impairment 1,702 4,222 538 2,262 1,319 405 1,086 11,534 Total $ 1,715 $ 4,268 $ 538 $ 2,619 $ 1,319 $ 405 $ 1,086 $ 11,950 Loans receivable: Individually evaluated for impairment $ 2,321 $ 8,448 $ 69 $ 897 $ - $ - $ - $ 11,735 Collectively evaluated for impairment 194,007 265,455 59,716 237,538 85,881 49,009 - 891,606 Total $ 196,328 $ 273,903 $ 59,785 $ 238,435 $ 85,881 $ 49,009 $ - $ 903,341 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators September 30, 2021 Commercial Loans and Leases Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 41,181 $ 460 $ 79 $ - $ - $ 41,720 $ 181,916 $ 671 $ 182,587 $ 224,307 Commercial real estate 325,588 3,450 12,556 - - 341,594 - - - 341,594 Construction, land acquisition and development 43,786 - - - - 43,786 6,309 - 6,309 50,095 Commercial and industrial 205,215 819 1,388 - - 207,422 2,387 - 2,387 209,809 Consumer - - - - - - 78,909 227 79,136 79,136 State and political subdivisions 56,053 - - - - 56,053 7 - 7 56,060 Total $ 671,823 $ 4,729 $ 14,023 $ - $ - $ 690,575 $ 269,528 $ 898 $ 270,426 $ 961,001 Credit Quality Indicators December 31, 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 $ 35,839 $ 494 $ 209 $ - $ - $ 36,542 $ 158,896 $ 890 $ 159,786 $ 196,328 Commercial real estate 256,390 4,349 13,164 - - 273,903 - - - 273,903 Construction, land acquisition and development 55,697 - - - - 55,697 4,088 - 4,088 59,785 Commercial and industrial 233,370 961 1,104 - - 235,435 3,000 - 3,000 238,435 Consumer - - - - - - 85,374 507 85,881 85,881 State and political subdivisions 48,998 - - - - 48,998 11 - 11 49,009 Total $ 630,294 $ 5,804 $ 14,477 $ - $ - $ 650,575 $ 251,369 $ 1,397 $ 252,766 $ 903,341 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2021 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 and leases: Residential real estate $ 223,483 $ 74 $ - $ - $ 223,557 Commercial real estate 338,615 - - - 338,615 Construction, land acquisition and development 50,095 - - - 50,095 Commercial and industrial 208,976 311 3 - 209,290 Consumer 77,904 878 127 - 78,909 State and political subdivisions 56,060 - - - 56,060 Total performing (accruing) loans and leases 955,133 1,263 130 - 956,526 Non-accrual loans: Residential real estate 88 10 236 416 750 Commercial real estate 1,407 - - 1,572 2,979 Construction, land acquisition and development - - - - - Commercial and industrial 519 - - - 519 Consumer 169 53 2 3 227 State and political subdivisions - - - - - Total non-accrual loans 2,183 63 238 1,991 4,475 Total loans and leases receivable $ 957,316 $ 1,326 $ 368 $ 1,991 $ 961,001 December 31, 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 $ 194,820 $ 251 $ 159 $ - $ 195,230 Commercial real estate 270,059 606 - - 270,665 Construction, land acquisition and development 59,785 - - - 59,785 Commercial and industrial 237,262 419 16 - 237,697 Consumer 83,486 1,485 403 - 85,374 State and political subdivisions 49,009 - - - 49,009 Total performing (accruing) loans 894,421 2,761 578 - 897,760 Non-accrual loans: Residential real estate 642 39 - 417 1,098 Commercial real estate 1,484 - - 1,754 3,238 Construction, land acquisition and development - - - - - Commercial and industrial 614 - 124 - 738 Consumer 114 132 96 165 507 State and political subdivisions - - - - - Total non-accrual loans 2,854 171 220 2,336 5,581 Total loans receivable $ 897,275 $ 2,932 $ 798 $ 2,336 $ 903,341 |
Impaired Financing Receivables [Table Text Block] | September 30, 2021 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 597 $ 663 $ - Commercial real estate 2,734 4,427 - Construction, land acquisition and development - - - Commercial and industrial 328 358 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,659 5,448 - With a related allowance recorded: Residential real estate 1,354 1,354 12 Commercial real estate 5,308 5,309 15 Construction, land acquisition and development - - - Commercial and industrial 253 470 9 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 6,915 7,133 36 Total impaired loans: Residential real estate 1,951 2,017 12 Commercial real estate 8,042 9,736 15 Construction, land acquisition and development - - - Commercial and industrial 581 828 9 Consumer - - - State and political subdivisions - - - Total impaired loans $ 10,574 $ 12,581 $ 36 December 31, 2020 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 859 $ 957 $ - Commercial real estate 2,729 5,311 - Construction, land acquisition and development 69 69 - Commercial and industrial 5 5 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,662 6,342 - With a related allowance recorded: Residential real estate 1,462 1,462 13 Commercial real estate 5,719 5,719 46 Construction, land acquisition and development - - - Commercial and industrial 892 1,130 357 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 8,073 8,311 416 Total impaired loans: Residential real estate 2,321 2,419 13 Commercial real estate 8,448 11,030 46 Construction, land acquisition and development 69 69 - Commercial and industrial 897 1,135 357 Consumer - - - State and political subdivisions - - - Total impaired loans $ 11,735 $ 14,653 $ 416 |
Schedule of Average Balance and Interest Income on Impaired Loans [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 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 $ 1,957 $ 18 $ 2,196 $ 16 $ 2,047 $ 54 $ 2,375 $ 56 Commercial real estate 7,914 56 9,273 59 8,127 169 10,525 197 Construction, land acquisition and development - - 72 2 45 2 73 4 Commercial and industrial 600 1 1,000 4 796 5 1,083 10 Consumer - - 276 2 - - 250 5 State and political subdivisions - - - - - - - - Total impaired loans $ 10,471 $ 75 $ 12,817 $ 83 $ 11,015 $ 230 $ 14,306 $ 272 |
Note 5 - Income Taxes (Tables)
Note 5 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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, 2021 2020 2021 2020 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,594 21.00 % $ 1,029 21.00 % $ 4,361 21.00 % $ 2,570 21.00 % Add (deduct): Tax effects of tax free interest income (178 ) (2.34 )% (179 ) (3.65 )% (542 ) (2.61 )% (450 ) (3.68 )% Non-deductible interest expense 11 0.14 % 5 0.10 % 34 0.16 % 14 0.11 % Bank-owned life insurance (29 ) (0.38 )% (25 ) (0.51 )% (174 ) (0.84 )% (77 ) (0.63 )% Gains on equity securities (33 ) (0.43 )% - - (117 ) (0.56 )% - - Other items, net (121 ) (1.61 )% (38 ) (0.77 )% (206 ) (0.99 )% (8 ) (0.06 )% Income tax provision $ 1,244 16.38 % $ 792 16.17 % $ 3,356 16.16 % $ 2,049 16.74 % |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance, beginning of period $ 100,500 $ 93,573 $ 98,935 $ 77,896 Additions, new loans and advances 63,471 17,424 113,150 48,120 Repayments (70,593 ) (7,504 ) (95,050 ) (22,523 ) Other (1) - - (23,657 ) - Balance, end of period $ 93,378 $ 103,493 $ 93,378 $ 103,493 (1) Other represents loans to related parties that ceased being related parties during the year |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) September 30, 2021 2021 $ 93 2022 397 2023 366 2024 330 2025 335 2026 and thereafter 2,742 Total lease payments 4,263 Less: imputed interest 851 Present value of operating lease liabilities $ 3,412 |
Lease, Other Information Related to Operating Leases [Table Text Block] | (dollars in thousands) September 30, 2021 Weighted-average remaining lease term (in years) 12.8 Weighted-average discount rate 3.30 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 306 |
Note 8 - Stock Compensation P_2
Note 8 - Stock Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 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 174,297 $ 7.37 169,632 $ 7.04 159,913 $ 7.07 128,150 $ 7.76 Awards granted - - - - 66,065 7.98 75,924 6.07 Forfeitures - - (2,753 ) 7.08 (7,443 ) 7.38 (5,412 ) 6.67 Vestings - - (6,637 ) 6.44 (44,238 ) 7.20 (38,420 ) 7.48 Total outstanding, end of period 174,297 $ 7.37 160,242 $ 7.06 174,297 $ 7.37 160,242 $ 7.06 |
Note 9 - Regulatory Matters_S_2
Note 9 - Regulatory Matters/Subsequent Event (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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, 2021 Total capital (to risk-weighted assets) $ 167,309 15.91 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 154,891 14.73 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 154,891 14.73 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 154,891 9.80 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 1,051,709 Total average assets 1,580,457 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, 2020 Total capital (to risk-weighted assets) $ 149,173 15.79 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 137,356 14.54 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 137,356 14.54 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 137,356 9.57 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 944,546 Total average assets 1,434,776 |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2021 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: U.S. Treasury securities $ 19,899 $ - $ 19,899 $ - Obligations of state and political subdivisions 215,773 - 215,773 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 106,131 - 106,131 - Collateralized mortgage obligations - commercial 3,790 - 3,790 - Mortgage-backed securities 22,699 - 22,699 - Private collateralized mortgage obligations 61,048 - 61,048 - Corporate debt securities 30,093 - 18,314 11,779 Asset-backed securities 10,144 - 10,144 - Negotiable certificates of deposit 746 - 746 - Subtotal available-for-sale debt securities 470,323 - 458,544 11,779 Equity securities, at fair value 4,777 4,777 - - Derivative assets 212 - 212 - Total $ 475,312 $ 4,777 $ 458,756 $ 11,779 Financial liabilities: Derivative liabilities $ 127 $ - $ 127 $ - Total $ 127 $ - $ 127 $ - Fair Value Measurements at December 31, 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 $ 205,828 $ - $ 205,828 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 56,972 - 56,972 - Collateralized mortgage obligations - commercial 3,904 - 3,904 - Mortgage-backed securities 13,026 - 13,026 - Private collateralized mortgage obligations 38,199 - 38,199 - Corporate debt securities 24,580 - 8,156 16,424 Asset-backed securities 7,526 - 7,526 - Subtotal available-for-sale debt securities 350,035 - 333,612 16,424 Equity securities, at fair value 3,026 3,026 - - Derivative assets 23 - 23 Total $ 353,084 $ 3,026 $ 333,635 $ 16,424 Financial liabilities: Derivative liabilities $ 143 $ - $ 143 $ - Total $ 143 $ - $ 143 $ - |
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 Corporate Debt Securities For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance at January 1, $ 16,609 $ 11,713 $ 16,424 $ 5,150 Additions - - 4,000 8,800 Redemptions (1,000 ) - (1,000 ) - Transfer to Level 2 (3,603 ) - (7,550 ) - Sales - - - - Total gains or losses (realized/unrealized): Included in earnings - - - - Included in other comprehensive income (227 ) 2,244 (95 ) 7 Balance at September 30, $ 11,779 $ 13,957 $ 11,779 $ 13,957 |
Fair Value Measurements, Nonrecurring [Table Text Block] | September 30, 2021 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 4,547 $ 12 $ 4,535 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 6,027 24 6,003 Discounted cash flows Discount rate 3.00% 8.75% Other real estate owned 58 4 54 Appraisal of collateral Selling cost 10.0 % December 31, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 4,244 $ 218 $ 4,026 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 7,491 198 7,293 Discounted cash flows Discount rate 3.00% - 8.75% Other real estate owned 58 - 58 Appraisal of collateral Selling cost 10.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value September 30, 2021 December 31, 2020 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 174,193 $ 174,193 $ 155,811 $ 155,811 Available-for-sale debt securities See table on page 21 470,323 470,323 350,035 350,035 Equity securities Level 1 4,777 4,777 3,026 3,026 Restricted stock Level 2 1,826 1,826 1,745 1,745 Loans held for sale Level 2 491 491 2,107 2,107 Loans, net Level 3 946,390 951,049 889,152 891,880 Accrued interest receivable Level 2 4,593 4,593 4,286 4,286 Equity securities without readily determinable fair values Level 3 500 500 500 500 Servicing rights Level 3 285 546 324 479 Derivative assets Level 2 212 212 23 23 Financial liabilities Deposits Level 2 1,482,066 1,482,243 1,287,448 1,288,567 Borrowed funds Level 2 10,310 10,310 10,310 10,310 Accrued interest payable Level 2 56 56 108 108 Derivative liabilities Level 2 127 127 135 143 |
Note 11 - Earnings Per Share (T
Note 11 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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) 2021 2020 2021 2020 Net income $ 6,351 $ 4,107 $ 17,413 $ 10,191 Basic weighted-average number of common shares outstanding 19,997,021 20,235,384 20,152,934 20,199,933 Plus: Common share equivalents 12,366 - 11,397 1,356 Diluted weighted-average number of common shares outstanding 20,009,387 20,235,384 20,164,331 20,201,289 Income per common share: Basic $ 0.31 $ 0.20 $ 0.86 $ 0.50 Diluted $ 0.31 $ 0.20 $ 0.86 $ 0.50 |
Note 12 - Other Comprehensive_2
Note 12 - Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Three Months Ended September 30, 2021 For the Nine Months Ended September 30, 2021 (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 $ - Net gain on the sale of available-for-sale debt securities $ (213 ) Net gain on the sale of available-for-sale debt securities Taxes - Income taxes 45 Income taxes Net of tax amount $ - $ (168 ) 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 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance, beginning of period $ 11,197 $ 10,779 $ 13,886 $ 3,056 Other comprehensive (loss) income before reclassifications (2,770 ) 1,761 (5,291 ) 10,330 Amount reclassified from accumulated other comprehensive income - (342 ) (168 ) (1,188 ) Net other comprehensive (loss) income during the period (2,770 ) 1,419 (5,459 ) 9,142 Balance, end of period $ 8,427 $ 12,198 $ 8,427 $ 12,198 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Number of Non-government Securities of Any Individual Issuer Exceeding 10 Percent of Shareholders' Equity | 0 | 0 |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 367,300 | $ 279,700 |
Equity Securities, FV-NI, Current | 4,777 | 3,026 |
Common Stock [Member] | ||
Equity Securities, FV-NI, Cost | 3,700 | 2,500 |
Equity Securities, FV-NI, Current | $ 4,800 | 3,000 |
Preferred Stock of Privately-held Bank Holding Company [Member] | ||
Equity Securities without Readily Determinable Fair Value, Dividend Rate | 8.25% | |
Preferred Stock of Privately-held Bank Holding Company [Member] | Other Assets [Member] | ||
Equity Securities without Readily Determinable Fair Value, Amount | $ 500 | $ 500 |
Note 3 - Securities - Available
Note 3 - Securities - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale debt securities, amortized cost | $ 459,742 | $ 332,346 |
Available-for-sale debt securities, gross unrealized holding gains | 13,065 | 17,911 |
Available-for-sale debt securities, gross unrealized holding losses | 2,484 | 222 |
Available-for-sale debt securities, at fair value | 470,323 | 350,035 |
US Treasury Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 20,073 | |
Available-for-sale debt securities, gross unrealized holding gains | 0 | |
Available-for-sale debt securities, gross unrealized holding losses | 174 | |
Available-for-sale debt securities, at fair value | 19,899 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 206,549 | 192,851 |
Available-for-sale debt securities, gross unrealized holding gains | 9,783 | 13,012 |
Available-for-sale debt securities, gross unrealized holding losses | 559 | 35 |
Available-for-sale debt securities, at fair value | 215,773 | 205,828 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 105,571 | 54,091 |
Available-for-sale debt securities, gross unrealized holding gains | 1,635 | 2,940 |
Available-for-sale debt securities, gross unrealized holding losses | 1,075 | 59 |
Available-for-sale debt securities, at fair value | 106,131 | 56,972 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 3,694 | 3,721 |
Available-for-sale debt securities, gross unrealized holding gains | 124 | 183 |
Available-for-sale debt securities, gross unrealized holding losses | 28 | 0 |
Available-for-sale debt securities, at fair value | 3,790 | 3,904 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 22,418 | 12,452 |
Available-for-sale debt securities, gross unrealized holding gains | 390 | 588 |
Available-for-sale debt securities, gross unrealized holding losses | 109 | 14 |
Available-for-sale debt securities, at fair value | 22,699 | 13,026 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, amortized cost | 61,317 | 37,926 |
Available-for-sale debt securities, gross unrealized holding gains | 180 | 352 |
Available-for-sale debt securities, gross unrealized holding losses | 449 | 79 |
Available-for-sale debt securities, at fair value | 61,048 | 38,199 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 29,300 | 23,800 |
Available-for-sale debt securities, gross unrealized holding gains | 876 | 790 |
Available-for-sale debt securities, gross unrealized holding losses | 83 | 10 |
Available-for-sale debt securities, at fair value | 30,093 | 24,580 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 10,076 | 7,505 |
Available-for-sale debt securities, gross unrealized holding gains | 75 | 46 |
Available-for-sale debt securities, gross unrealized holding losses | 7 | 25 |
Available-for-sale debt securities, at fair value | 10,144 | $ 7,526 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, amortized cost | 744 | |
Available-for-sale debt securities, gross unrealized holding gains | 2 | |
Available-for-sale debt securities, gross unrealized holding losses | 0 | |
Available-for-sale debt securities, at fair value | $ 746 |
Note 3 - Securities - Availab_2
Note 3 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
One year or less, amortized cost | $ 1,420 | |
One year or less, fair value | 1,440 | |
After one year through five years, amortized cost | 67,207 | |
After one year through five years, fair value | 71,198 | |
After five years through ten years, amortized cost | 72,051 | |
After five years through ten years, fair value | 73,413 | |
After ten years, amortized cost | 115,988 | |
After ten years, fair value | 120,460 | |
Available-for-sale debt securities, amortized cost | 459,742 | $ 332,346 |
Available-for-sale debt securities, at fair value | 470,323 | 350,035 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 22,418 | |
Securities without a single maturity, fair value | 22,699 | |
Available-for-sale debt securities, amortized cost | 22,418 | 12,452 |
Available-for-sale debt securities, at fair value | 22,699 | 13,026 |
Collateralized Mortgage Obligations [Member] | ||
Securities without a single maturity, amortized cost | 170,582 | |
Securities without a single maturity, fair value | 170,969 | |
Asset-backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 10,076 | |
Securities without a single maturity, fair value | 10,144 | |
Available-for-sale debt securities, amortized cost | 10,076 | 7,505 |
Available-for-sale debt securities, at fair value | $ 10,144 | $ 7,526 |
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, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Gross proceeds received on sales | $ 0 | $ 10,917 | $ 2,981 | $ 62,805 |
Gross realized gains | 0 | 474 | 213 | 1,650 |
Gross realized losses | 0 | (41) | 0 | (146) |
Net gains recognized on equity securities | 156 | 846 | 556 | 864 |
Less: net gains recognized on equity securities sold or transferred | 0 | 611 | 0 | 611 |
Unrealized gains on equity securities held | $ 156 | $ 235 | $ 556 | $ 253 |
Note 3 - Securities - Availab_3
Note 3 - Securities - Available-for-sale Debt Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Less than 12 months, number of securities | 93 | 16 | |
Less than 12 months, fair value | $ 159,564 | $ 24,005 | |
Less than 12 months, gross unrealized losses | $ 2,392 | $ 173 | |
12 months or longer, number of securities | 5 | 2 | |
12 months or longer, fair value | $ 7,264 | $ 3,847 | |
12 months or longer, gross unrealized losses | $ 92 | $ 49 | |
Total, number of securities | 98 | 18 | |
Total, fair value | $ 166,828 | $ 27,852 | |
Total, gross unrealized losses | $ 2,484 | $ 222 | |
US Treasury Securities [Member] | |||
Less than 12 months, number of securities | 9 | ||
Less than 12 months, fair value | $ 19,899 | ||
Less than 12 months, gross unrealized losses | $ 174 | ||
12 months or longer, number of securities | 0 | ||
12 months or longer, fair value | $ 0 | ||
12 months or longer, gross unrealized losses | $ 0 | ||
Total, number of securities | 9 | ||
Total, fair value | $ 19,899 | ||
Total, gross unrealized losses | $ 174 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Less than 12 months, number of securities | 35 | 6 | |
Less than 12 months, fair value | $ 29,413 | $ 4,541 | |
Less than 12 months, gross unrealized losses | $ 559 | $ 35 | |
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 | 35 | 6 | |
Total, fair value | $ 29,413 | $ 4,541 | |
Total, gross unrealized losses | $ 559 | $ 35 | |
Residential Mortgage Backed Securities [Member] | |||
Less than 12 months, number of securities | 19 | 2 | |
Less than 12 months, fair value | $ 60,209 | $ 7,019 | |
Less than 12 months, gross unrealized losses | $ 1,024 | $ 59 | |
12 months or longer, number of securities | 1 | 0 | |
12 months or longer, fair value | $ 1,627 | $ 0 | |
12 months or longer, gross unrealized losses | $ 51 | $ 0 | |
Total, number of securities | 20 | 2 | |
Total, fair value | $ 61,836 | $ 7,019 | |
Total, gross unrealized losses | $ 1,075 | $ 59 | |
Commercial Mortgage Backed Securities [Member] | |||
Less than 12 months, number of securities | 1 | 0 | |
Less than 12 months, fair value | $ 1,657 | $ 0 | |
Less than 12 months, gross unrealized losses | $ 28 | $ 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 | 1 | 0 | |
Total, fair value | $ 1,657 | $ 0 | |
Total, gross unrealized losses | $ 28 | $ 0 | |
Collateralized Mortgage Backed Securities [Member] | |||
Less than 12 months, number of securities | 4 | 1 | |
Less than 12 months, fair value | $ 11,900 | $ 2,103 | |
Less than 12 months, gross unrealized losses | $ 109 | $ 14 | |
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 | 1 | |
Total, fair value | $ 11,900 | $ 2,103 | |
Total, gross unrealized losses | $ 109 | $ 14 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Less than 12 months, number of securities | 14 | 3 | |
Less than 12 months, fair value | $ 27,636 | $ 7,857 | |
Less than 12 months, gross unrealized losses | $ 411 | $ 42 | |
12 months or longer, number of securities | 2 | 1 | |
12 months or longer, fair value | $ 4,233 | $ 2,256 | |
12 months or longer, gross unrealized losses | $ 38 | $ 37 | |
Total, number of securities | 16 | 4 | |
Total, fair value | $ 31,869 | $ 10,113 | |
Total, gross unrealized losses | $ 449 | $ 79 | |
Corporate Debt Securities [Member] | |||
Less than 12 months, number of securities | 8 | 2 | |
Less than 12 months, fair value | $ 7,417 | $ 1,739 | |
Less than 12 months, gross unrealized losses | $ 83 | $ 10 | |
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 | 8 | 2 | |
Total, fair value | $ 7,417 | $ 1,739 | |
Total, gross unrealized losses | $ 83 | $ 10 | |
Asset-backed Securities [Member] | |||
Less than 12 months, number of securities | 2 | 2 | |
Less than 12 months, fair value | $ 1,185 | $ 746 | |
Less than 12 months, gross unrealized losses | $ 4 | $ 13 | |
12 months or longer, number of securities | 2 | 1 | |
12 months or longer, fair value | $ 1,404 | $ 1,591 | |
12 months or longer, gross unrealized losses | $ 3 | $ 12 | |
Total, number of securities | 4 | 3 | |
Total, fair value | $ 2,589 | $ 2,337 | |
Total, gross unrealized losses | $ 7 | $ 25 | |
Negotiable Certificates of Deposit [Member] | |||
Less than 12 months, number of securities | [1] | 1 | |
Less than 12 months, fair value | [1] | $ 248 | |
Less than 12 months, gross unrealized losses | [1] | $ 0 | |
12 months or longer, number of securities | [1] | 0 | |
12 months or longer, fair value | [1] | $ 0 | |
12 months or longer, gross unrealized losses | [1] | $ 0 | |
Total, number of securities | [1] | 1 | |
Total, fair value | [1] | $ 248 | |
Total, gross unrealized losses | [1] | $ 0 | |
[1] | Unrealized loss is less than $1 thousand. |
Note 3 - Securities - Restricte
Note 3 - Securities - Restricted Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Stock in Atlantic Community Banker's Bank | $ 10 | $ 10 |
Restricted stock, at cost | 1,826 | 1,745 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Stock in Federal Home Loan Bank of Pittsburgh | $ 1,816 | $ 1,735 |
Note 4 - Loans and Leases (Deta
Note 4 - Loans and Leases (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 961,001 | $ 961,001 | $ 903,341 | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | (1,654) | (1,654) | (2,129) | ||
Loans and Leases Receivable, Allowance, Ending Balance | 12,018 | 12,018 | 11,950 | ||
Loans and Leases Receivable, Net Amount, Total | 946,390 | 946,390 | 889,152 | ||
Gain (Loss) on Sales of Loans, Net, Total | 41 | $ 186 | 312 | $ 465 | |
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 491 | $ 491 | 2,107 | ||
Loans Still Classified as Non-accrual Status, Period of Past Due (Day) | 90 days | ||||
Financing Receivable, Nonaccrual | 4,500 | $ 4,500 | 5,600 | ||
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 | |||
Financing Receivable, Collectively Evaluated for Impairment | 950,427 | 950,427 | 891,606 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 52 | $ 77 | 167 | $ 282 | |
Financing Receivable, Troubled Debt Restructuring | 6,900 | 6,900 | 7,700 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |
Real Estate Owned, Transfer to Real Estate Owned | $ 138 | $ 0 | |||
Number of Real Estate Properties, Foreclosed | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring [Member] | |||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 26 | $ 26 | 197 | ||
Nonaccrual Loans [Member] | |||||
Financing Receivable, Collectively Evaluated for Impairment | 600 | 600 | 1,400 | ||
Performing Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | 6,700 | 6,700 | 7,000 | ||
Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | 200 | 200 | 700 | ||
One- to Four-family Mortgages [Member] | |||||
Recorded Investment of Mortgage Loans Sold | 1,100 | $ 4,600 | 7,000 | $ 10,500 | |
Gain (Loss) on Sales of Loans, Net, Total | 41 | $ 186 | 312 | $ 465 | |
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 500 | 500 | 2,100 | ||
Small Business Administration [Member] | |||||
Loans Serviced for Others, Unpaid Principal Balance | 81,000 | 81,000 | 96,500 | ||
Commercial and Industrial [Member] | |||||
Loans and Leases Receivable, Gross, Total | 209,809 | 209,809 | 238,435 | ||
Financing Receivable, Collectively Evaluated for Impairment | 209,228 | 209,228 | 237,538 | ||
Financing Receivable, Modifications, Number of Contracts | 3 | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 196 | ||||
Commercial and Industrial [Member] | Commercial Equipment Financing [Member] | |||||
Loans and Leases Receivable, Net Amount, Total | 1,700 | 1,700 | |||
Commercial and Industrial [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||||
Loans and Leases Receivable, Gross, Total | 49,400 | 49,400 | 78,600 | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 2,000 | 2,000 | 2,600 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | 0 | 0 | ||
Residential Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Gross, Total | 224,307 | 224,307 | $ 196,328 | ||
Financing Receivable, Modifications, Number of Contracts | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 88 | ||||
Real Estate Investment Property, Foreclosed | 138 | ||||
Selling Price of Property Under Agreement of Sale | $ 205 | 205 | |||
Real Estate Owned, Transfer to Real Estate Owned | $ 178 | ||||
Number of Real Estate Properties in OREO | 1 | 1 | |||
Mortgage Loans in Process of Foreclosure, Amount | $ 68 | $ 68 | |||
Residential Portfolio Segment [Member] | Noninterest Income [Member] | |||||
Fair Value Adjustment of Foreclosed Asset Held for Sale | $ 40 |
Note 4 - Loans - Loans Receivab
Note 4 - Loans - Loans Receivable, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans, gross | $ 961,001 | $ 903,341 |
Unearned income | (939) | (110) |
Net deferred loan fees | (1,654) | (2,129) |
Allowance for loan and lease losses | (12,018) | (11,950) |
Loans and leases, net | 946,390 | 889,152 |
Residential Portfolio Segment [Member] | ||
Loans, gross | 224,307 | 196,328 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, gross | 341,594 | 273,903 |
Construction, Land Acquisition and Development [Member] | ||
Loans, gross | 50,095 | 59,785 |
Commercial and Industrial [Member] | ||
Loans, gross | 209,809 | 238,435 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 79,136 | 85,881 |
State and Political Subdivisions [Member] | ||
Loans, gross | $ 56,060 | $ 49,009 |
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, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Balance | $ 12,285 | $ 11,024 | $ 11,950 | $ 8,950 | |
Charge-offs | (255) | (582) | (752) | (1,227) | |
Recoveries | 501 | 1,753 | 992 | 2,490 | |
(Credit) provision for loan and lease losses | (513) | 74 | (172) | 2,056 | |
Balance | 12,018 | 12,269 | 12,018 | 12,269 | |
Individually evaluated for impairment, allowance | 36 | 36 | $ 416 | ||
Collectively evaluated for impairment, allowance | 11,982 | 11,982 | 11,534 | ||
Total, allowance | 12,018 | 12,269 | 12,018 | 12,269 | 11,950 |
Individually evaluated for impairment | 10,574 | 10,574 | 11,735 | ||
Financing Receivable, Collectively Evaluated for Impairment | 950,427 | 950,427 | 891,606 | ||
Total | 961,001 | 961,001 | 903,341 | ||
Residential Portfolio Segment [Member] | |||||
Total | 224,307 | 224,307 | 196,328 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance | 1,858 | 1,351 | 1,715 | 1,147 | |
Charge-offs | (8) | 0 | (14) | 0 | |
Recoveries | 0 | 3 | 16 | 42 | |
(Credit) provision for loan and lease losses | 141 | 193 | 274 | 358 | |
Balance | 1,991 | 1,547 | 1,991 | 1,547 | |
Individually evaluated for impairment, allowance | 12 | 12 | 13 | ||
Collectively evaluated for impairment, allowance | 1,979 | 1,979 | 1,702 | ||
Total, allowance | 1,991 | 1,547 | 1,991 | 1,547 | 1,715 |
Individually evaluated for impairment | 1,951 | 1,951 | 2,321 | ||
Financing Receivable, Collectively Evaluated for Impairment | 222,356 | 222,356 | 194,007 | ||
Total | 224,307 | 224,307 | 196,328 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Total | 341,594 | 341,594 | 273,903 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance | 4,648 | 3,942 | 4,268 | 3,198 | |
Charge-offs | 0 | (280) | 0 | (336) | |
Recoveries | 392 | 845 | 438 | 846 | |
(Credit) provision for loan and lease losses | (532) | 307 | (198) | 1,106 | |
Balance | 4,508 | 4,814 | 4,508 | 4,814 | |
Individually evaluated for impairment, allowance | 15 | 15 | 46 | ||
Collectively evaluated for impairment, allowance | 4,493 | 4,493 | 4,222 | ||
Total, allowance | 4,508 | 4,814 | 4,508 | 4,814 | 4,268 |
Individually evaluated for impairment | 8,042 | 8,042 | 8,448 | ||
Financing Receivable, Collectively Evaluated for Impairment | 333,552 | 333,552 | 265,455 | ||
Total | 341,594 | 341,594 | 273,903 | ||
Construction, Land Acquisition and Development [Member] | |||||
Total | 50,095 | 50,095 | 59,785 | ||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Balance | 493 | 360 | 538 | 271 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 13 | 0 | 13 | 0 | |
(Credit) provision for loan and lease losses | (38) | 53 | (83) | 142 | |
Balance | 468 | 413 | 468 | 413 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 468 | 468 | 538 | ||
Total, allowance | 468 | 413 | 468 | 413 | 538 |
Individually evaluated for impairment | 0 | 0 | 69 | ||
Financing Receivable, Collectively Evaluated for Impairment | 50,095 | 50,095 | 59,716 | ||
Total | 50,095 | 50,095 | 59,785 | ||
Commercial and Industrial [Member] | |||||
Balance | 2,483 | 2,343 | 2,619 | 1,997 | |
Charge-offs | (178) | (81) | (208) | (208) | |
Recoveries | 10 | 726 | 42 | 1,210 | |
(Credit) provision for loan and lease losses | 61 | (634) | (77) | (645) | |
Balance | 2,376 | 2,354 | 2,376 | 2,354 | |
Individually evaluated for impairment, allowance | 9 | 9 | 357 | ||
Collectively evaluated for impairment, allowance | 2,367 | 2,367 | 2,262 | ||
Total, allowance | 2,376 | 2,354 | 2,376 | 2,354 | 2,619 |
Individually evaluated for impairment | 581 | 581 | 897 | ||
Financing Receivable, Collectively Evaluated for Impairment | 209,228 | 209,228 | 237,538 | ||
Total | 209,809 | 209,809 | 238,435 | ||
Consumer Portfolio Segment [Member] | |||||
Balance | 1,177 | 1,689 | 1,319 | 1,658 | |
Charge-offs | (69) | (221) | (530) | (683) | |
Recoveries | 86 | 179 | 483 | 392 | |
(Credit) provision for loan and lease losses | (74) | 2 | (152) | 282 | |
Balance | 1,120 | 1,649 | 1,120 | 1,649 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 1,120 | 1,120 | 1,319 | ||
Total, allowance | 1,120 | 1,649 | 1,120 | 1,649 | 1,319 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 79,136 | 79,136 | 85,881 | ||
Total | 79,136 | 79,136 | 85,881 | ||
State and Political Subdivisions [Member] | |||||
Balance | 509 | 337 | 405 | 253 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
(Credit) provision for loan and lease losses | (47) | 40 | 57 | 124 | |
Balance | 462 | 377 | 462 | 377 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 462 | 462 | 405 | ||
Total, allowance | 462 | 377 | 462 | 377 | 405 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 56,060 | 56,060 | 49,009 | ||
Total | 56,060 | 56,060 | 49,009 | ||
Unallocated Financing Receivables [Member] | |||||
Balance | 1,117 | 1,002 | 1,086 | 426 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
(Credit) provision for loan and lease losses | (24) | 113 | 7 | 689 | |
Balance | 1,093 | 1,115 | 1,093 | 1,115 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 1,093 | 1,093 | 1,086 | ||
Total, allowance | 1,093 | $ 1,115 | 1,093 | $ 1,115 | 1,086 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | 0 | ||
Total | $ 0 | $ 0 | $ 0 |
Note 4 - Loans - Loans by Credi
Note 4 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans | $ 961,001 | $ 903,341 |
Commercial Loans [Member] | ||
Loans | 690,575 | 650,575 |
Accruing Loans [Member] | ||
Loans | 269,528 | 251,369 |
Nonaccrual Loans [Member] | ||
Loans | 898 | 1,397 |
Subtotal, Other Loans [Member] | ||
Loans | 270,426 | 252,766 |
Pass [Member] | Commercial Loans [Member] | ||
Loans | 671,823 | 630,294 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 4,729 | 5,804 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans | 14,023 | 14,477 |
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 | 224,307 | 196,328 |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 41,720 | 36,542 |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 181,916 | 158,896 |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 671 | 890 |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 182,587 | 159,786 |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 41,181 | 35,839 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 460 | 494 |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 79 | 209 |
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 | 341,594 | 273,903 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 341,594 | 273,903 |
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 | 325,588 | 256,390 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 3,450 | 4,349 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 12,556 | 13,164 |
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 | 50,095 | 59,785 |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | ||
Loans | 43,786 | 55,697 |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | ||
Loans | 6,309 | 4,088 |
Construction, Land Acquisition and Development [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Subtotal, Other Loans [Member] | ||
Loans | 6,309 | 4,088 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 43,786 | 55,697 |
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 | 209,809 | 238,435 |
Commercial and Industrial [Member] | Commercial Loans [Member] | ||
Loans | 207,422 | 235,435 |
Commercial and Industrial [Member] | Accruing Loans [Member] | ||
Loans | 2,387 | 3,000 |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | ||
Loans | 2,387 | 3,000 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 205,215 | 233,370 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 819 | 961 |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 1,388 | 1,104 |
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 | 79,136 | 85,881 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 78,909 | 85,374 |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 227 | 507 |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 79,136 | 85,881 |
Consumer Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
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 | 56,060 | 49,009 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | ||
Loans | 56,053 | 48,998 |
State and Political Subdivisions [Member] | Accruing Loans [Member] | ||
Loans | 7 | 11 |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | ||
Loans | 7 | 11 |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 56,053 | 48,998 |
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, 2021 | Dec. 31, 2020 |
Loans | $ 961,001 | $ 903,341 |
Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 957,316 | 897,275 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,326 | 2,932 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 368 | 798 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,991 | 2,336 |
Financial Asset, Past Due [Member] | ||
Loans | 961,001 | 903,341 |
Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 955,133 | 894,421 |
Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,263 | 2,761 |
Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 130 | 578 |
Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 956,526 | 897,760 |
Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 2,183 | 2,854 |
Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 63 | 171 |
Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 238 | 220 |
Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,991 | 2,336 |
Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 4,475 | 5,581 |
Residential Portfolio Segment [Member] | ||
Loans | 224,307 | 196,328 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 224,307 | 196,328 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 223,483 | 194,820 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 74 | 251 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 159 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 223,557 | 195,230 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 88 | 642 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 10 | 39 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 236 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 416 | 417 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 750 | 1,098 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 341,594 | 273,903 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 341,594 | 273,903 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 338,615 | 270,059 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 606 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 338,615 | 270,665 |
Construction, Land Acquisition and Development [Member] | ||
Loans | 50,095 | 59,785 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Loans | 50,095 | 59,785 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 50,095 | 59,785 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 50,095 | 59,785 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | ||
Loans | 209,809 | 238,435 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 208,976 | 237,262 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 311 | 419 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 3 | 16 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 209,290 | 237,697 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 519 | 614 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 124 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 519 | 738 |
Consumer Portfolio Segment [Member] | ||
Loans | 79,136 | 85,881 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 77,904 | 83,486 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 878 | 1,485 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 127 | 403 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 78,909 | 85,374 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 169 | 114 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 53 | 132 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 2 | 96 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 3 | 165 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 227 | 507 |
State and Political Subdivisions [Member] | ||
Loans | 56,060 | 49,009 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 56,060 | 49,009 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 56,060 | 49,009 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 1,407 | 1,484 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,572 | 1,754 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | Financial Asset, Past Due [Member] | ||
Loans | $ 2,979 | $ 3,238 |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Recorded investment, with no allowance recorded | $ 3,659 | $ 3,662 |
Unpaid principal balance, with no allowance recorded | 5,448 | 6,342 |
Recorded investment, with a related allowance recorded | 6,915 | 8,073 |
Unpaid principal balance, with a related allowance recorded | 7,133 | 8,311 |
Related Allowance | 36 | 416 |
Recorded Investment | 10,574 | 11,735 |
Unpaid principal balance | 12,581 | 14,653 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 597 | 859 |
Unpaid principal balance, with no allowance recorded | 663 | 957 |
Recorded investment, with a related allowance recorded | 1,354 | 1,462 |
Unpaid principal balance, with a related allowance recorded | 1,354 | 1,462 |
Related Allowance | 12 | 13 |
Recorded Investment | 1,951 | 2,321 |
Unpaid principal balance | 2,017 | 2,419 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 2,734 | 2,729 |
Unpaid principal balance, with no allowance recorded | 4,427 | 5,311 |
Recorded investment, with a related allowance recorded | 5,308 | 5,719 |
Unpaid principal balance, with a related allowance recorded | 5,309 | 5,719 |
Related Allowance | 15 | 46 |
Recorded Investment | 8,042 | 8,448 |
Unpaid principal balance | 9,736 | 11,030 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 0 | 69 |
Unpaid principal balance, with no allowance recorded | 0 | 69 |
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 | 69 |
Unpaid principal balance | 0 | 69 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 328 | 5 |
Unpaid principal balance, with no allowance recorded | 358 | 5 |
Recorded investment, with a related allowance recorded | 253 | 892 |
Unpaid principal balance, with a related allowance recorded | 470 | 1,130 |
Related Allowance | 9 | 357 |
Recorded Investment | 581 | 897 |
Unpaid principal balance | 828 | 1,135 |
Consumer Portfolio Segment [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 |
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, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Average balance | $ 10,471 | $ 12,817 | $ 11,015 | $ 14,306 | |
Interest income | [1] | 75 | 83 | 230 | 272 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 1,957 | 2,196 | 2,047 | 2,375 | |
Interest income | [1] | 18 | 16 | 54 | 56 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 7,914 | 9,273 | 8,127 | 10,525 | |
Interest income | [1] | 56 | 59 | 169 | 197 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Average balance | 0 | 72 | 45 | 73 | |
Interest income | [1] | 0 | 2 | 2 | 4 |
Commercial and Industrial [Member] | |||||
Average balance | 600 | 1,000 | 796 | 1,083 | |
Interest income | [1] | 1 | 4 | 5 | 10 |
Consumer Portfolio Segment [Member] | |||||
Average balance | 0 | 276 | 0 | 250 | |
Interest income | [1] | 0 | 2 | 0 | 5 |
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 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 21.00% | |
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 0 | $ 0 |
Note 5 - Income Taxes - Effecti
Note 5 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Provision at statutory tax rates | $ 1,594 | $ 1,029 | $ 4,361 | $ 2,570 |
Provision at statutory tax rates, percentage | 21.00% | 21.00% | 21.00% | 21.00% |
Tax effects of tax free interest income | $ (178) | $ (179) | $ (542) | $ (450) |
Tax effects of tax free interest income, percentage | (2.34%) | (3.65%) | (2.61%) | (3.68%) |
Non-deductible interest expense | $ 11 | $ 5 | $ 34 | $ 14 |
Non-deductible interest expense, percentage | 0.14% | 0.10% | 0.16% | 0.11% |
Bank-owned life insurance | $ (29) | $ (25) | $ (174) | $ (77) |
Bank-owned life insurance, percentage | (0.38%) | (0.51%) | (0.84%) | (0.63%) |
Gains on equity securities | $ (33) | $ 0 | $ (117) | $ 0 |
Gains on equity securities, percentage | (0.43%) | 0.00% | (0.56%) | 0.00% |
Other items, net | $ (121) | $ (38) | $ (206) | $ (8) |
Other items, net, percentage | (1.61%) | (0.77%) | (0.99%) | (0.06%) |
Income tax provision | $ 1,244 | $ 792 | $ 3,356 | $ 2,049 |
Income tax provision, percentage | 16.38% | 16.17% | 16.16% | 16.74% |
Note 6 - Related Party Transa_3
Note 6 - Related Party Transactions (Details Textual) - Directors, Executive Officers and Their Related Parties [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Related Party Deposit Liabilities | $ 152,800 | $ 152,800 | $ 146,200 | ||
Related Party Transactions, Interest Paid on Deposits | 243 | $ 417 | |||
Related Party Transaction, Expenses from Transactions with Related Party | 834 | $ 588 | 1,500 | $ 1,300 | |
Nonperforming Financial Instruments [Member] | |||||
Due from Related Parties, Total | $ 0 | $ 0 |
Note 6 - Related Party Transa_4
Note 6 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Balance, beginning of period | $ 100,500 | $ 93,573 | $ 98,935 | $ 77,896 | |
Additions, new loans and advances | 63,471 | 17,424 | 113,150 | 48,120 | |
Repayments | (70,593) | (7,504) | (95,050) | (22,523) | |
Other | [1] | 0 | 0 | (23,657) | 0 |
Balance, end of period | $ 93,378 | $ 103,493 | $ 93,378 | $ 103,493 | |
[1] | Other represents loans to related parties that ceased being related parties during the year |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Lease, Expense | $ 287 | $ 312 |
Automobile Lease [Member] | ||
Operating Lease, Right-of-Use Asset | 46 | |
Operating Lease, Liability, Total | 42 | |
Other Assets [Member] | ||
Operating Lease, Right-of-Use Asset | 3,100 | |
Other Liabilities [Member] | ||
Operating Lease, Liability, Total | $ 3,412 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Maturity of Remaining Operating Lease Liabilities (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2021 | $ 93 |
2022 | 397 |
2023 | 366 |
2024 | 330 |
2025 | 335 |
2026 and thereafter | 2,742 |
Total lease payments | 4,263 |
Less: imputed interest | 851 |
Other Liabilities [Member] | |
Present value of operating lease liabilities | $ 3,412 |
Note 7 - Commitments and Cont_5
Note 7 - Commitments and Contingencies - Other Information Related to Operating Leases (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Weighted-average remaining lease term (in years) (Year) | 12 years 9 months 18 days |
Weighted-average discount rate | 3.30% |
Operating cash flows from operating leases | $ 306 |
Note 8 - Stock Compensation P_3
Note 8 - Stock Compensation Plans (Details Textual) - Long-Term Incentive Compensation Plan [Member] - USD ($) $ / shares in Units, $ in Thousands | Jul. 01, 2021 | Sep. 30, 2021 | Sep. 30, 2020 |
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) | 66,065 | 75,924 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 679,207 | ||
Share-based Payment Arrangement, Expense | $ 277 | $ 259 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,100 | $ 1,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 6 months 21 days | ||
Share-based Payment Arrangement, Nonemployee [Member] | Each of Bank's Nine Non-employee Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,062 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 7.28 | ||
Share-based Payment Arrangement, Nonemployee [Member] | Bank's Nine Non-employee Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 18,558 | ||
Share-based Payment Arrangement, Expense | $ 150 |
Note 8 - Stock Compensation P_4
Note 8 - Stock Compensation Plans - Stock Compensation Plans (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Total outstanding, beginning of period (in shares) | 174,297 | 169,632 | 159,913 | 128,150 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 7.37 | $ 7.04 | $ 7.07 | $ 7.76 |
Awards granted (in shares) | 0 | 0 | 66,065 | 75,924 |
Awards granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 7.98 | $ 6.07 |
Forfeitures (in shares) | 0 | (2,753) | (7,443) | (5,412) |
Forfeitures, weighted average grant date fair value (in dollars per share) | $ 0 | $ 7.08 | $ 7.38 | $ 6.67 |
Vestings (in shares) | 0 | (6,637) | (44,238) | (38,420) |
Vestings, weighted average grant date fair value (in dollars per share) | $ 0 | $ 6.44 | $ 7.20 | $ 7.48 |
Total outstanding, end of period (in shares) | 174,297 | 160,242 | 174,297 | 160,242 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 7.37 | $ 7.06 | $ 7.37 | $ 7.06 |
Note 9 - Regulatory Matters_S_3
Note 9 - Regulatory Matters/Subsequent Event (Details Textual) - $ / shares | Oct. 27, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jan. 27, 2021 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.075 | $ 0.055 | $ 0.195 | $ 0.165 | ||
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares) | 1,906 | 2,795 | 8,151 | 8,211 | ||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 975,000 | |||||
Stock Repurchased and Retired During Period, Shares (in shares) | 330,759 | |||||
Stock Repurchased and Retired During Period, Weighted Average Cost Per Share (in dollars per share) | $ 7.21 | |||||
Subsequent Event [Member] | ||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.075 | |||||
Dividends Payable, Date to be Paid | Dec. 15, 2021 | |||||
Dividends Payable, Date of Record | Dec. 1, 2021 |
Note 9 - Regulatory Matters_S_4
Note 9 - Regulatory Matters/Subsequent Event - Risk-based Capital and Related Ratios (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Total capital (to risk-weighted assets), Amount | $ 167,309 | $ 149,173 |
Total capital (to risk-weighted assets), Ratio | 0.1591 | 0.1579 |
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 | $ 154,891 | $ 137,356 |
Tier I capital (to risk-weighted assets), Ratio | 0.1473 | 0.1454 |
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 | $ 154,891 | $ 137,356 |
Tier I common equity (to risk-weighted assets), Ratio | 0.1473 | 0.1454 |
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 | $ 154,891 | $ 137,356 |
Tier I capital (to average assets), Ratio | 0.0980 | 0.0957 |
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 | $ 1,051,709 | $ 944,546 |
Total average assets, Amount | $ 1,580,457 | $ 1,434,776 |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurements (Details Textual) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 459,742 | $ 332,346 |
Debt Securities, Available-for-sale, Total | $ 470,323 | 350,035 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Number of Securities | 26 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 29,300 | 23,800 |
Debt Securities, Available-for-sale, Total | $ 30,093 | $ 24,580 |
Debt Securities, Available-for-sale, Level 3 to Level 2 Transfers | 8 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.0333 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.0433 | |
Inactive Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Number of Securities | 7 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 11,300 | |
Debt Securities, Available-for-sale, Total | $ 11,800 |
Note 10 - Fair Value Measurem_4
Note 10 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale debt securities, at fair value | $ 470,323 | $ 350,035 |
Equity securities, at fair value | 4,777 | 3,026 |
US Treasury Securities [Member] | ||
Available-for-sale debt securities, at fair value | 19,899 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 215,773 | 205,828 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 22,699 | 13,026 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 61,048 | 38,199 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 30,093 | 24,580 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 10,144 | 7,526 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 746 | |
Fair Value, Recurring [Member] | ||
Available-for-sale debt securities, at fair value | 470,323 | 350,035 |
Equity securities, at fair value | 4,777 | 3,026 |
Derivative assets | 212 | 23 |
Financial assets | 475,312 | 353,084 |
Derivative liabilities | 127 | 143 |
Financial liabilities | 127 | 143 |
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 | 4,777 | 3,026 |
Derivative assets | 0 | 0 |
Financial assets | 4,777 | 3,026 |
Derivative liabilities | 0 | 0 |
Financial liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 458,544 | 333,612 |
Equity securities, at fair value | 0 | 0 |
Derivative assets | 212 | 23 |
Financial assets | 458,756 | 333,635 |
Derivative liabilities | 127 | 143 |
Financial liabilities | 127 | 143 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 11,779 | 16,424 |
Equity securities, at fair value | 0 | 0 |
Derivative assets | 0 | |
Financial assets | 11,779 | 16,424 |
Derivative liabilities | 0 | 0 |
Financial liabilities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available-for-sale debt securities, at fair value | 19,899 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 19,899 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 215,773 | 205,828 |
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 | 215,773 | 205,828 |
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 | 106,131 | 56,972 |
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 | 106,131 | 56,972 |
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 | 3,790 | 3,904 |
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 | 3,790 | 3,904 |
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 | 22,699 | 13,026 |
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 | 22,699 | 13,026 |
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 | 61,048 | 38,199 |
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 | 61,048 | 38,199 |
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 | 30,093 | 24,580 |
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 | 18,314 | 8,156 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 11,779 | 16,424 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 10,144 | 7,526 |
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 | 10,144 | 7,526 |
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 | 746 | |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 746 | |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | $ 0 |
Note 10 - Fair Value Measurem_5
Note 10 - Fair Value Measurements - Changes in Fair Value Assets (Details) - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 16,609 | $ 11,713 | $ 16,424 | $ 5,150 |
Additions | 0 | 0 | 4,000 | 8,800 |
Redemptions | (1,000) | 0 | (1,000) | 0 |
Transfer to Level 2 | (3,603) | 0 | (7,550) | 0 |
Sales | 0 | 0 | 0 | 0 |
Included in earnings | 0 | 0 | 0 | 0 |
Included in other comprehensive income | (227) | 2,244 | (95) | 7 |
Balance | $ 11,779 | $ 13,957 | $ 11,779 | $ 13,957 |
Note 10 - Fair Value Measurem_6
Note 10 - 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, 2021 | Dec. 31, 2020 | |
Recorded Investment | $ 10,574 | $ 11,735 |
Related Allowance | 36 | 416 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | ||
Other real estate owned, recorded investment | 58 | 58 |
Other real estate owned, allowance | 4 | 0 |
Other real estate owned, fair value | 54 | 58 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded Investment | 4,547 | 4,244 |
Related Allowance | 12 | 218 |
Fair Value | $ 4,535 | $ 4,026 |
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] | ||
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 | $ 6,027 | $ 7,491 |
Related Allowance | 24 | 198 |
Fair Value | $ 6,003 | $ 7,293 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Minimum [Member] | ||
Discount Rate | 3.00% | 3.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Maximum [Member] | ||
Discount Rate | 8.75% | 8.75% |
Note 10 - Fair Value Measurem_7
Note 10 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale debt securities | $ 470,323 | $ 350,035 |
Equity securities, at fair value | 4,777 | 3,026 |
Reported Value Measurement [Member] | ||
Available-for-sale debt securities | 470,323 | 350,035 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 174,193 | 155,811 |
Equity securities, at fair value | 4,777 | 3,026 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 1,826 | 1,745 |
Loans held for sale | 491 | 2,107 |
Accrued interest receivable | 4,593 | 4,286 |
Derivative assets | 212 | 23 |
Deposits | 1,482,066 | 1,287,448 |
Borrowed funds | 10,310 | 10,310 |
Accrued interest payable | 56 | 108 |
Derivative liabilities | 127 | 135 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 946,390 | 889,152 |
Equity securities without readily determinable fair values | 500 | 500 |
Servicing rights | 285 | 324 |
Estimate of Fair Value Measurement [Member] | ||
Available-for-sale debt securities | 470,323 | 350,035 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 174,193 | 155,811 |
Equity securities, at fair value | 4,777 | 3,026 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 1,826 | 1,745 |
Loans held for sale | 491 | 2,107 |
Accrued interest receivable | 4,593 | 4,286 |
Derivative assets | 212 | 23 |
Deposits | 1,482,243 | 1,288,567 |
Borrowed funds | 10,310 | 10,310 |
Accrued interest payable | 56 | 108 |
Derivative liabilities | 127 | 143 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 951,049 | 891,880 |
Equity securities without readily determinable fair values | 500 | 500 |
Servicing rights | $ 546 | $ 479 |
Note 11 - Earnings Per Share -
Note 11 - 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, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 6,351 | $ 4,107 | $ 17,413 | $ 10,191 |
Basic weighted-average number of common shares outstanding (in shares) | 19,997,021 | 20,235,384 | 20,152,934 | 20,199,933 |
Plus: Common share equivalents (in shares) | 12,366 | 0 | 11,397 | 1,356 |
Diluted weighted-average number of common shares outstanding (in shares) | 20,009,387 | 20,235,384 | 20,164,331 | 20,201,289 |
Basic (in dollars per share) | $ 0.31 | $ 0.20 | $ 0.86 | $ 0.50 |
Diluted (in dollars per share) | $ 0.31 | $ 0.20 | $ 0.86 | $ 0.50 |
Note 12 - Other Comprehensive_3
Note 12 - Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reclassification adjustment for gains included in net income | $ 0 | $ (433) | $ (213) | $ (1,504) |
Income tax expense | 1,244 | 792 | 3,356 | 2,049 |
Net of tax amount | 0 | 342 | 168 | 1,188 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification adjustment for gains included in net income | 0 | (433) | (213) | (1,504) |
Income tax expense | 0 | 91 | 45 | 316 |
Net of tax amount | $ 0 | $ (342) | $ (168) | $ (1,188) |
Note 12 - Other Comprehensive_4
Note 12 - Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balances | $ 160,614 | $ 145,357 | $ 155,860 | $ 133,607 |
Total other comprehensive (loss) income | (2,770) | 1,419 | (5,459) | 9,142 |
Balances | 161,950 | 150,046 | 161,950 | 150,046 |
AOCI Attributable to Parent [Member] | ||||
Balances | 11,197 | 10,779 | 13,886 | 3,056 |
Other comprehensive (loss) income before reclassifications | (2,770) | 1,761 | (5,291) | 10,330 |
Amount reclassified from accumulated other comprehensive income | 0 | (342) | (168) | (1,188) |
Total other comprehensive (loss) income | (2,770) | 1,419 | (5,459) | 9,142 |
Balances | $ 8,427 | $ 12,198 | $ 8,427 | $ 12,198 |