Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 29, 2022 | |
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 | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
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, $1.25 par value | |
Trading Symbol | FNCB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 19,687,950 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 23,355 | $ 16,651 |
Interest-bearing deposits in other banks | 4,037 | 82,369 |
Total cash and cash equivalents | 27,392 | 99,020 |
Available-for-sale debt securities | 495,604 | 522,566 |
Equity securities, at fair value | 5,307 | 4,922 |
Restricted stock, at cost | 5,787 | 1,911 |
Loans held for sale | 667 | 0 |
Loans and leases, net of allowance for loan and lease losses of $13,381 and $12,416 | 1,075,367 | 967,023 |
Bank premises and equipment, net | 15,619 | 16,082 |
Accrued interest receivable | 5,103 | 4,643 |
Bank-owned life insurance | 36,836 | 33,494 |
Other assets | 25,403 | 14,662 |
Total assets | 1,693,085 | 1,664,323 |
Liabilities | ||
Demand (non-interest-bearing) | 317,725 | 320,089 |
Interest-bearing | 1,109,219 | 1,134,939 |
Total deposits | 1,426,944 | 1,455,028 |
Borrowed funds: | ||
Federal Home Loan Bank of Pittsburgh advances | 118,050 | 20,000 |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 128,360 | 30,310 |
Accrued interest payable | 85 | 49 |
Other liabilities | 12,184 | 16,479 |
Total liabilities | 1,567,573 | 1,501,866 |
Shareholders' equity | ||
Preferred shares ($1.25 par), Authorized: 20,000,000 shares at June 30, 2022 and December 31, 2021, Issued and outstanding: 0 shares at June 30, 2022 and December 31, 2021 | 0 | 0 |
Common shares ($1.25 par), Authorized: 50,000,000 shares at June 30, 2022 and December 31, 2021 Issued and outstanding: 19,675,557 shares at June 30, 2022 and 19,989,875 shares at December 31, 2021 | 24,594 | 24,987 |
Additional paid-in capital | 77,233 | 80,128 |
Retained earnings | 58,085 | 50,990 |
Accumulated other comprehensive (loss) income | (34,400) | 6,352 |
Total shareholders' equity | 125,512 | 162,457 |
Total liabilities and shareholders’ equity | $ 1,693,085 | $ 1,664,323 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans, allowance for loan and lease losses | $ 13,381 | $ 12,416 |
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) | 19,675,557 | 19,989,875 |
Common shares, outstanding (in shares) | 19,675,557 | 19,989,875 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Interest income | ||||
Interest and fees on loans and leases | $ 11,100 | $ 10,242 | $ 21,202 | $ 20,028 |
Interest and dividends on securities: | ||||
Taxable | 2,402 | 1,980 | 4,792 | 3,886 |
Tax-exempt | 658 | 516 | 1,270 | 1,002 |
Dividends | 112 | 59 | 190 | 121 |
Total interest and dividends on securities | 3,172 | 2,555 | 6,252 | 5,009 |
Interest on interest-bearing deposits in other banks | 8 | 1 | 15 | 4 |
Total interest income | 14,280 | 12,798 | 27,469 | 25,041 |
Interest expense | ||||
Interest on deposits | 346 | 718 | 670 | 1,516 |
Interest on borrowed funds: | ||||
Federal Home Loan Bank of Pittsburgh advances | 242 | 0 | 273 | 0 |
Junior subordinated debentures | 70 | 48 | 121 | 96 |
Total interest on borrowed funds | 312 | 48 | 394 | 96 |
Total interest expense | 658 | 766 | 1,064 | 1,612 |
Net interest income before provision for loan and lease losses | 13,622 | 12,032 | 26,405 | 23,429 |
Provision for loan and lease losses | 62 | 155 | 821 | 341 |
Net interest income after provision for loan and lease losses | 13,560 | 11,877 | 25,584 | 23,088 |
Non-interest income | ||||
Deposit service charges | 1,065 | 956 | 2,115 | 1,830 |
Net (loss) gain on the sale of available-for-sale debt securities | (35) | 0 | (35) | 213 |
Net (loss) gain on equity securities | (82) | 36 | (207) | 400 |
Net gain on the sale of mortgage loans held for sale | 32 | 47 | 32 | 271 |
Loan-related fees | 50 | 104 | 107 | 237 |
Income from bank-owned life insurance | 197 | 142 | 342 | 263 |
Bank-owned life insurance settlement | 0 | 4 | 0 | 426 |
Merchant services revenue | 172 | 156 | 371 | 294 |
Other | 258 | 264 | 722 | 549 |
Total non-interest income | 1,657 | 1,709 | 3,447 | 4,483 |
Non-interest expense | ||||
Salaries and employee benefits | 4,519 | 4,038 | 9,177 | 7,774 |
Occupancy expense | 447 | 431 | 995 | 1,040 |
Equipment expense | 316 | 333 | 640 | 686 |
Advertising expense | 227 | 214 | 359 | 331 |
Data processing expense | 1,009 | 885 | 2,072 | 1,704 |
Regulatory assessments | 196 | 112 | 421 | 300 |
Insurance expense | 155 | 143 | 310 | 288 |
Bank shares tax | 375 | 342 | 716 | 657 |
Professional fees | 213 | 112 | 540 | 371 |
Other operating expenses | 775 | 616 | 1,546 | 1,246 |
Total non-interest expense | 8,232 | 7,226 | 16,776 | 14,397 |
Income before income tax expense | 6,985 | 6,360 | 12,255 | 13,174 |
Income tax expense | 1,247 | 1,131 | 2,164 | 2,112 |
Net income | $ 5,738 | $ 5,229 | $ 10,091 | $ 11,062 |
Earnings per share | ||||
Basic (in dollars per share) | $ 0.29 | $ 0.26 | $ 0.51 | $ 0.55 |
Diluted (in dollars per share) | 0.29 | 0.26 | 0.51 | 0.55 |
Cash dividends declared per common share (in dollars per share) | $ 0.075 | $ 0.060 | $ 0.150 | $ 0.120 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||||
Basic (in shares) | 19,677,109 | 20,222,216 | 19,805,485 | 20,232,183 |
Diluted (in shares) | 19,694,125 | 20,232,694 | 19,832,405 | 20,243,094 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 5,738 | $ 5,229 | $ 10,091 | $ 11,062 |
Other comprehensive loss: | ||||
Unrealized (losses) gains on available-for-sale debt securities | (21,325) | 3,692 | (52,286) | (3,375) |
Taxes | 4,478 | (775) | 10,980 | 709 |
Net of tax amount | (16,847) | 2,917 | (41,306) | (2,666) |
Reclassification adjustment for losses (gains) included in net income | 35 | 0 | 35 | (213) |
Taxes | (7) | 0 | (7) | 45 |
Net of tax amount | 28 | 0 | 28 | (168) |
Derivative adjustments | 139 | (24) | 666 | 184 |
Taxes | (29) | 5 | (140) | (39) |
Net of tax amount | 110 | (19) | 526 | 145 |
Total other comprehensive (loss) income | (16,709) | 2,898 | (40,752) | (2,689) |
Comprehensive (loss) income | $ (10,971) | $ 8,127 | $ (30,661) | $ 8,373 |
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, 2020 | 20,245,649 | ||||
Balances at Dec. 31, 2020 | $ 25,307 | $ 81,587 | $ 35,080 | $ 13,886 | $ 155,860 |
Net income | 0 | 0 | 11,062 | 0 | 11,062 |
Cash dividends | 0 | 0 | (2,429) | 0 | (2,429) |
Restricted stock awards | $ 0 | 178 | 0 | 0 | 178 |
Repurchase of common shares (in shares) | (193,530) | ||||
Repurchase of common shares | $ (242) | (1,155) | 0 | 0 | (1,397) |
Common shares issued under long-term incentive compensation plan (in shares) | 44,238 | ||||
Common shares issued under long-term incentive compensation plan | $ 55 | (55) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 6,245 | 6,245 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 8 | 36 | (15) | 0 | $ 29 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 0 | (2,689) | (2,689) |
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 |
Balances (in shares) at Mar. 31, 2021 | 20,240,668 | ||||
Balances at Mar. 31, 2021 | $ 25,300 | 81,640 | 39,691 | 8,299 | 154,930 |
Net income | 0 | 0 | 5,229 | 0 | 5,229 |
Cash dividends | 0 | 0 | (1,214) | 0 | (1,214) |
Restricted stock awards | $ 0 | 98 | 0 | 0 | 98 |
Repurchase of common shares (in shares) | (185,342) | ||||
Repurchase of common shares | $ (231) | (1,109) | 0 | 0 | (1,340) |
Common shares issued under long-term incentive compensation plan (in shares) | 44,238 | ||||
Common shares issued under long-term incentive compensation plan | $ 55 | (55) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 3,038 | 3,038 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 4 | 17 | (8) | 0 | $ 13 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 0 | 2,898 | 2,898 |
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 |
Balances (in shares) at Dec. 31, 2021 | 19,989,875 | ||||
Balances at Dec. 31, 2021 | $ 24,987 | 80,128 | 50,990 | 6,352 | 162,457 |
Net income | 0 | 0 | 10,091 | 0 | 10,091 |
Cash dividends | 0 | 0 | (2,976) | 0 | (2,976) |
Restricted stock awards | $ 0 | 222 | 0 | 0 | 222 |
Repurchase of common shares (in shares) | (371,376) | ||||
Repurchase of common shares | $ (464) | (3,066) | 0 | 0 | (3,530) |
Common shares issued under long-term incentive compensation plan (in shares) | 54,689 | ||||
Common shares issued under long-term incentive compensation plan | $ 68 | (68) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 2,369 | 2,369 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 3 | 17 | (20) | 0 | $ 0 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 0 | (40,752) | (40,752) |
Balances (in shares) at Jun. 30, 2022 | 19,675,557 | ||||
Balances at Jun. 30, 2022 | $ 24,594 | 77,233 | 58,085 | (34,400) | 125,512 |
Balances (in shares) at Mar. 31, 2022 | 19,683,671 | ||||
Balances at Mar. 31, 2022 | $ 24,604 | 77,642 | 53,834 | (17,691) | 138,389 |
Net income | 0 | 0 | 5,738 | 0 | 5,738 |
Cash dividends | 0 | 0 | (1,477) | 0 | (1,477) |
Restricted stock awards | $ 0 | 122 | 0 | 0 | 122 |
Repurchase of common shares (in shares) | (63,862) | ||||
Repurchase of common shares | $ (80) | (470) | 0 | 0 | (550) |
Common shares issued under long-term incentive compensation plan (in shares) | 54,689 | ||||
Common shares issued under long-term incentive compensation plan | $ 68 | (68) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 1,059 | 1,059 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 2 | 7 | (10) | 0 | $ (1) |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 0 | (16,709) | (16,709) |
Balances (in shares) at Jun. 30, 2022 | 19,675,557 | ||||
Balances at Jun. 30, 2022 | $ 24,594 | $ 77,233 | $ 58,085 | $ (34,400) | $ 125,512 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cash dividends declared, per share (in dollars per share) | $ 0.075 | $ 0.060 | $ 0.150 | $ 0.120 |
Other comprehensive income (loss) , tax | $ 4,422 | $ 770 | $ 10,833 | $ 715 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 10,091 | $ 11,062 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 1,559 | 883 |
Equity in trust | (4) | (3) |
Depreciation of bank premises and equipment | 778 | 778 |
Amortization of loan origination fees | (736) | (2,476) |
Valuation adjustment for loan servicing rights | (3) | (7) |
Stock-based compensation expense | 222 | 178 |
Provision for loan and lease losses | 821 | 341 |
Valuation adjustment for other real estate owned | 0 | (40) |
Valuation adjustment for off-balance sheet commitments | 123 | (128) |
Net loss (gain) on the sale of available-for-sale debt securities | 35 | (213) |
Net loss (gain) on equity securities | 207 | (400) |
Net gain on the sale of mortgage loans held for sale | (32) | (271) |
Net gain on the sale of other real estate owned | (3) | 0 |
Bank-owned life insurance settlement | 0 | (426) |
Income from bank-owned life insurance | (342) | (263) |
Proceeds from the sale of mortgage loans held for sale | 2,686 | 6,162 |
Funds used to originate mortgage loans held for sale | (3,321) | (4,426) |
Decrease in net deferred tax assets | 0 | 392 |
Increase in accrued interest receivable | (460) | (199) |
Decrease in other assets | 500 | 189 |
Increase (decrease) in accrued interest payable | 36 | (21) |
Decrease in other liabilities | (4,893) | (757) |
Total adjustments | (2,827) | (707) |
Net cash provided by operating activities | 7,264 | 10,355 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale debt securities | 23,259 | 14,086 |
Proceeds from the sale of available-for-sale debt securities | 2,372 | 2,981 |
Purchases of available-for-sale debt securities | (52,514) | (99,589) |
Purchases of equity securities | (592) | (877) |
(Purchase) redemption of restricted stock | (3,876) | 646 |
Net increase in loans and leases to customers | (108,381) | (73,030) |
Proceeds from the sale of other real estate owned | 695 | 0 |
Proceeds from bank-owned life insurance settlement | 0 | 1,685 |
Purchase of bank-owned life insurance | (3,000) | (2,500) |
Purchases of bank premises and equipment | (315) | (559) |
Net cash used in investing activities | (142,352) | (157,157) |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (28,084) | 50,730 |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | 118,050 | 0 |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 10,000 | 0 |
Repayment of Federal Home loan Bank of Pittsburgh advances - term | (30,000) | 0 |
Repurchase of common shares | (3,530) | (1,397) |
Proceeds from issuance of common shares, net of discount | 0 | 29 |
Cash dividends paid | (2,976) | (2,429) |
Net cash provided by financing activities | 63,460 | 46,933 |
Net decrease in cash and cash equivalents | (71,628) | (99,869) |
Cash and cash equivalents at beginning of period | 99,020 | 155,811 |
Cash and cash equivalents at end of period | 27,392 | 55,942 |
Supplemental cash flow information | ||
Interest | 1,028 | 1,633 |
Taxes | 2,200 | 2,180 |
Other transactions: | ||
Loans transferred to OREO | 0 | 138 |
Available-for-sale debt securities purchased, not settled | 0 | 4,508 |
Lease liabilities arising from obtaining right-of-use assets | $ 0 | $ 42 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. The consolidated financial statements of FNCB Bancorp, Inc. are comprised of the accounts of FNCB Bancorp, Inc., a registered bank holding company under the Bank Holding Company Act of 1956, 10 10 01 X. not not three six June 30, 2022 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 and income taxes. FNCB has evaluated events and transactions occurring subsequent to June 30, 2022, 10, 11, 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, 2021 |
Note 2 - New Authoritative Acco
Note 2 - New Authoritative Accounting Guidance | 6 Months Ended |
Jun. 30, 2022 | |
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 June 30, 2022, third third December 31, 2022. may ASU 2022 02, 326 326 20. 326 20 50 6, December 15, 2022, No. 2016 13, No. 2022 02 may 2022 02 January 1, 2023 may Refer to Note 2 10 December 31, 2021 ( "2021 |
Note 3 - Securities
Note 3 - Securities | 6 Months Ended |
Jun. 30, 2022 | |
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 June 30, 2022 December 31, 2021 June 30, 2022 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: U.S. treasuries $ 37,518 $ - $ 3,486 $ 34,032 Obligations of state and political subdivisions 258,501 168 22,801 235,868 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 98,066 - 8,327 89,739 Collateralized mortgage obligations - commercial 3,667 - 208 3,459 Mortgage-backed securities 23,011 23 1,783 21,251 Private collateralized mortgage obligations 73,005 - 5,909 67,096 Corporate debt securities 32,919 16 1,782 31,153 Asset-backed securities 12,659 - 330 12,329 Negotiable certificates of deposit 744 - 67 677 Total available-for-sale debt securities $ 540,090 $ 207 $ 44,693 $ 495,604 December 31, 2021 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: U.S. treasuries $ 36,751 $ 1 $ 397 $ 36,355 Obligations of state and political subdivisions 235,489 9,651 768 244,372 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 101,321 1,158 1,769 100,710 Collateralized mortgage obligations - commercial 3,685 87 45 3,727 Mortgage-backed securities 25,467 263 224 25,506 Private collateralized mortgage obligations 68,137 60 1,032 67,165 Corporate debt securities 31,300 940 177 32,063 Asset-backed securities 11,907 42 17 11,932 Negotiable certificates of deposit 744 - 8 736 Total available-for-sale debt securities $ 514,801 $ 12,202 $ 4,437 $ 522,566 Except for securities of U.S. government and government-sponsored agencies, there were no securities of any individual issuer that exceeded 10.0% June 30, 2022 December 31, 2021 The following table presents the maturity information of FNCB’s available-for-sale debt securities at June 30, 2022 may not not June 30, 2022 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 6,249 $ 6,242 After one year through five years 109,293 105,854 After five years through ten years 78,066 69,398 After ten years 136,074 120,236 Mortgage-backed securities 23,011 21,251 Collateralized mortgage obligations 174,738 160,294 Asset-backed securities 12,659 12,329 Total available-for-sale debt securities $ 540,090 $ 495,604 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 six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Available-for-sale debt securities: Gross proceeds received on sales $ 2,372 $ - $ 2,372 $ 2,981 Gross realized gains - - - 213 Gross realized losses (35 ) - (35 ) - The following tables present the number, fair value and gross unrealized losses of available-for-sale debt securities with unrealized losses at June 30, 2022 December 31, 2021 June 30, 2022 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. treasuries 18 $ 34,032 $ 3,486 - $ - $ - 18 $ 34,032 $ 3,486 Obligations of state and political subdivisions 208 218,673 22,130 5 2,553 671 213 221,226 22,801 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 28 52,424 3,737 14 37,315 4,590 42 89,739 8,327 Collateralized mortgage obligations - commercial 2 1,975 31 1 1,484 177 3 3,459 208 Mortgage-backed securities 6 10,677 1,350 2 3,594 433 8 14,271 1,783 Private collateralized mortgage obligations 42 59,935 5,374 5 7,161 535 47 67,096 5,909 Corporate debt securities 22 25,729 1,640 3 2,858 142 25 28,587 1,782 Asset-backed securities 8 10,772 280 2 1,557 50 10 12,329 330 Negotiable certificates of deposit 3 677 67 - - - 3 677 67 Total available-for-sale debt securities 337 $ 414,894 $ 38,095 32 $ 56,522 $ 6,598 369 $ 471,416 $ 44,693 December 31, 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. treasuries 16 $ 35,394 $ 397 - $ - $ - 16 $ 35,394 $ 397 Obligations of state and political subdivisions 41 36,107 702 2 1,257 66 43 37,364 768 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 20 58,848 1,530 2 5,713 239 22 64,561 1,769 Collateralized mortgage obligations - commercial 1 1,632 45 - - - 1 1,632 45 Mortgage-backed securities 6 14,585 204 1 1,596 20 7 16,181 224 Private collateralized mortgage obligations 22 44,425 897 3 6,213 135 25 50,638 1,032 Corporate debt securities 9 7,643 107 2 2,180 70 11 9,823 177 Asset-backed securities 4 3,810 14 2 1,293 3 6 5,103 17 Negotiable certificates of deposit 3 736 8 - - - 3 736 8 Total available-for-sale debt securities 122 $ 203,180 $ 3,904 12 $ 18,252 $ 533 134 $ 221,432 $ 4,437 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 June 30, 2022 no may June 30, 2022 not not not June 30, 2022 Equity Securities Included in equity securities with readily determinable fair values at June 30, 2022 December 31, 2021 1 4 The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the three six June 30, 2022 2021. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Net (losses) gains recognized on equity securities $ (82 ) $ 36 $ (207 ) $ 400 Less: net gains recognized on equity securities sold/acquired - - - - Unrealized (losses) gains on equity securities $ (82 ) $ 36 $ (207 ) $ 400 Equity Securities without Readily Determinable Fair Values At June 30, 2022 December 31, 2021, not third June 30, 2022 December 31, 2021, not no June 30, 2022 December 31, 2021 Restricted Stock The following table presents FNCB's investment in restricted stock at June 30, 2022 December 31, 2021 no June 30, 2022 December 31, 2021 June 30, December 31, (in thousands) 2022 2021 Stock in Federal Home Loan Bank of Pittsburgh $ 5,777 $ 1,901 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 5,787 $ 1,911 |
Note 4 - Loans and Leases
Note 4 - Loans and Leases | 6 Months Ended |
Jun. 30, 2022 | |
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 June 30, 2022 December 31, 2021 June 30, December 31, (in thousands) 2022 2021 Residential real estate $ 250,480 $ 234,113 Commercial real estate 368,423 366,009 Construction, land acquisition and development 62,495 41,646 Commercial and industrial 230,089 193,086 Consumer 98,905 85,522 State and political subdivisions 77,644 61,071 Total loans and leases, gross 1,088,036 981,447 Unearned income (719 ) (1,442 ) Net deferred loan origination fees (costs) 1,431 (566 ) Allowance for loan and lease losses (13,381 ) (12,416 ) Loans and leases, net $ 1,075,367 $ 967,023 Included in commercial and industrial loans and leases at June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021, 100.0% may June 30, 2022 December 31, 2021. In 2021, June 30, 2022 December 31, 2021. June 30, 2022 December 31, 2021. June 30, 2022 December 31, 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 8, FNCB originates 1 4 three six June 30, 2022, 1 4 three six June 30, 2021, three six June 30, 2022 2021. June 30, 2022 1 4 no 1 4 December 31, 2021. The unpaid principal balance of loans serviced for others, which includes residential mortgages and SBA-guaranteed loans, was $75.4 million at June 30, 2022 December 31, 2021 There were no three six June 30, 2022. 2, 2021 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 six June 30, 2022 2021 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 June 30, 2022 Allowance for loan and lease losses: Beginning balance, April 1, 2022 $ 2,196 $ 4,424 $ 538 $ 3,092 $ 1,259 $ 491 $ 1,129 $ 13,129 Charge-offs - - - (13 ) (290 ) - - (303 ) Recoveries - 224 - 7 262 - - 493 Provisions (credits) 12 (566 ) 208 218 76 114 - 62 Ending balance, June 30, 2022 $ 2,208 $ 4,082 $ 746 $ 3,304 $ 1,307 $ 605 $ 1,129 $ 13,381 Three months ended June 30, 2021 Allowance for loan and lease losses: Beginning balance, April 1, 2021 $ 1,732 $ 4,521 $ 516 $ 2,603 $ 1,219 $ 387 $ 1,098 $ 12,076 Charge-offs (6 ) - - (11 ) (119 ) - - (136 ) Recoveries 13 - - 7 170 - - 190 Provisions (credits) 119 127 (23 ) (116 ) (93 ) 122 19 155 Ending balance, June 30, 2021 $ 1,858 $ 4,648 $ 493 $ 2,483 $ 1,177 $ 509 $ 1,117 $ 12,285 Six months ended June 30, 2022 Allowance for loan and lease losses: Beginning balance, January 1, 2022 $ 2,081 $ 4,530 $ 392 $ 2,670 $ 1,159 $ 455 $ 1,129 $ 12,416 Charge-offs (3 ) - - (32 ) (363 ) - - (398 ) Recoveries - 224 - 11 307 - - 542 Provisions (credits) 130 (672 ) 354 655 204 150 - 821 Ending balance, June 30, 2022 $ 2,208 $ 4,082 $ 746 $ 3,304 $ 1,307 $ 605 $ 1,129 $ 13,381 Six months ended June 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 (6 ) - - (30 ) (461 ) - - (497 ) Recoveries 16 46 - 32 397 - - 491 Provisions (credits) 133 334 (45 ) (138 ) (78 ) 104 31 341 Ending balance, June 30, 2021 $ 1,858 $ 4,648 $ 493 $ 2,483 $ 1,177 $ 509 $ 1,117 $ 12,285 The following table presents, by major category, the allocation of the ALLL and the related loan balance disaggregated based on the impairment methodology at June 30, 2022 December 31, 2021 Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total June 30, 2022 Allowance for loan and lease losses: Individually evaluated for impairment $ 12 $ 5 $ - $ 6 $ - $ - $ - $ 23 Collectively evaluated for impairment 2,196 4,077 746 3,298 1,307 605 1,129 13,358 Total $ 2,208 $ 4,082 $ 746 $ 3,304 $ 1,307 $ 605 $ 1,129 $ 13,381 Loans and leases receivable: Individually evaluated for impairment $ 1,749 $ 6,449 $ - $ 411 $ - $ - $ - $ 8,609 Collectively evaluated for impairment 248,731 361,974 62,495 229,678 98,905 77,644 - 1,079,427 Total $ 250,480 $ 368,423 $ 62,495 $ 230,089 $ 98,905 $ 77,644 $ - $ 1,088,036 December 31, 2021 Allowance for loan and lease losses: Individually evaluated for impairment $ 9 $ 6 $ - $ 11 $ - $ - $ - $ 26 Collectively evaluated for impairment 2,072 4,524 392 2,659 1,159 455 1,129 12,390 Total $ 2,081 $ 4,530 $ 392 $ 2,670 $ 1,159 $ 455 $ 1,129 $ 12,416 Loans and leases receivable: Individually evaluated for impairment $ 1,681 $ 7,530 $ - $ 762 $ - $ - $ - $ 9,973 Collectively evaluated for impairment 232,432 358,479 41,646 192,324 85,522 61,071 - 971,474 Total $ 234,113 $ 366,009 $ 41,646 $ 193,086 $ 85,522 $ 61,071 $ - $ 981,447 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 June 30, 2022 December 31, 2021 Credit Quality Indicators June 30, 2022 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 $ 42,833 $ 480 $ 72 $ - $ - $ 43,385 $ 206,295 $ 800 $ 207,095 $ 250,480 Commercial real estate 359,498 6,831 2,094 - - 368,423 - - - 368,423 Construction, land acquisition and development 57,340 1,655 - - - 58,995 3,500 - 3,500 62,495 Commercial and industrial 218,098 9,022 874 - - 227,994 2,095 - 2,095 230,089 Consumer - - - - - - 98,719 186 98,905 98,905 State and political subdivisions 77,642 - - - - 77,642 2 - 2 77,644 Total $ 755,411 $ 17,988 $ 3,040 $ - $ - $ 776,439 $ 310,611 $ 986 $ 311,597 $ 1,088,036 Credit Quality Indicators December 31, 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 $ 42,028 $ 530 $ 77 $ - $ - $ 42,635 $ 190,919 $ 559 $ 191,478 $ 234,113 Commercial real estate 350,904 8,232 6,873 - - 366,009 - - - 366,009 Construction, land acquisition and development 34,869 - - - - 34,869 6,777 - 6,777 41,646 Commercial and industrial 187,554 1,877 1,343 - - 190,774 2,312 - 2,312 193,086 Consumer - - - - - - 85,291 231 85,522 85,522 State and political subdivisions 61,066 - - - - 61,066 5 - 5 61,071 Total $ 676,421 $ 10,639 $ 8,293 $ - $ - $ 695,353 $ 285,304 $ 790 $ 286,094 $ 981,447 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 $2.8 million and $3.9 million at June 30, 2022 December 31, 2021, six no may may 90 90 June 30, 2022 December 31, 2021 The following tables present the delinquency status of past due and non-accrual loans and leases at June 30, 2022 December 31, 2021 June 30, 2022 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 $ 249,580 $ 6 $ 22 $ - $ 249,608 Commercial real estate 366,727 42 112 - 366,881 Construction, land acquisition and development 62,495 - - - 62,495 Commercial and industrial 229,885 39 1 - 229,925 Consumer 97,430 1,119 156 14 98,719 State and political subdivisions 77,644 - - - 77,644 Total performing (accruing) loans and leases 1,083,761 1,206 291 14 1,085,272 Non-accrual loans and leases: Residential real estate 47 91 91 642 871 Commercial real estate 215 - - 1,327 1,542 Construction, land acquisition and development - - - - - Commercial and industrial 164 - - - 164 Consumer 65 54 40 28 187 State and political subdivisions - - - - - Total non-accrual loans and leases 491 145 131 1,997 2,764 Total loans and leases receivable $ 1,084,252 $ 1,351 $ 422 $ 2,011 $ 1,088,036 December 31, 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 $ 233,054 $ 406 $ 17 $ - $ 233,477 Commercial real estate 363,394 116 - - 363,510 Construction, land acquisition and development 41,646 - - - 41,646 Commercial and industrial 192,584 4 1 - 192,589 Consumer 84,333 754 204 - 85,291 State and political subdivisions 61,071 - - - 61,071 Total performing (accruing) loans and leases 976,082 1,280 222 - 977,584 Non-accrual loans and leases: Residential real estate 67 27 87 455 636 Commercial real estate 1,172 - - 1,327 2,499 Construction, land acquisition and development - - - - - Commercial and industrial 497 - - - 497 Consumer 117 85 15 14 231 State and political subdivisions - - - - - Total non-accrual loans and leases 1,853 112 102 1,796 3,863 Total loans and leases receivable $ 977,935 $ 1,392 $ 324 $ 1,796 $ 981,447 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, June 30, 2022 December 31, 2021 not not 450. $100 450 June 30, 2022 December 31, 2021. June 30, 2022 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 587 $ 660 $ - Commercial real estate 1,542 1,787 - Construction, land acquisition and development - - - Commercial and industrial 228 228 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 2,357 2,675 - With a related allowance recorded: Residential real estate 1,162 1,162 12 Commercial real estate 4,907 4,907 5 Construction, land acquisition and development - - - Commercial and industrial 183 401 6 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 6,252 6,470 23 Total impaired loans: Residential real estate 1,749 1,822 12 Commercial real estate 6,449 6,694 5 Construction, land acquisition and development - - - Commercial and industrial 411 629 6 Consumer - - - State and political subdivisions - - - Total impaired loans $ 8,609 $ 9,145 $ 23 December 31, 2021 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 395 $ 463 $ - Commercial real estate 2,499 4,230 - Construction, land acquisition and development - - - Commercial and industrial 314 347 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,208 5,040 - With a related allowance recorded: Residential real estate 1,286 1,285 9 Commercial real estate 5,031 5,031 6 Construction, land acquisition and development - - - Commercial and industrial 448 666 11 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 6,765 6,982 26 Total impaired loans: Residential real estate 1,681 1,748 9 Commercial real estate 7,530 9,261 6 Construction, land acquisition and development - - - Commercial and industrial 762 1,013 11 Consumer - - - State and political subdivisions - - - Total impaired loans $ 9,973 $ 12,022 $ 26 The following table presents the average balance and interest income by loan category recognized on impaired loans for the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 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 $ 1,757 $ 15 $ 2,094 $ 17 $ 1,740 $ 30 $ 2,092 $ 35 Commercial real estate 6,472 58 8,183 56 6,961 112 8,233 113 Construction, land acquisition and development - - 66 1 - - 67 2 Commercial and industrial 417 6 929 2 576 10 895 4 Consumer - - - - - - - - State and political subdivisions - - - - - - - - Total impaired loans $ 8,646 $ 79 $ 11,272 $ 76 $ 9,277 $ 152 $ 11,287 $ 154 ( 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 $43 thousand and $86 thousand for the three six June 30, 2022, three six June 30, 2021, Troubled Debt Restructured Loans TDRs were $6.5 million and $6.9 million at June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 not June 30, 2022 The modification of the terms of loans classified as TDRs may one There were no loans modified as TDRs during the three six June 30, 2022 2021. 12 three six June 30, 2022 2021. Residential Real Estate Loan Foreclosures There were three residential real estate properties with an aggregate recorded investment of $230 thousand that were in the process of foreclosure at June 30, 2022. no June 30, 2022. During the three six June 30, 2021, third 2021. three six June 30, 2021. June 30, 2021. |
Note 5 - Deposits
Note 5 - Deposits | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 5. The following table presents deposits by major category at June 30, 2022 December 31, 2021: June 30, December 31, (in thousands) 2022 2021 Demand (non-interest bearing) $ 317,725 $ 320,089 Interest-bearing: Interest-bearing demand 796,458 857,849 Savings 145,168 134,224 Time ($250,000 and over) 25,630 26,531 Other time 141,963 116,335 Total interest-bearing 1,109,219 1,134,939 Total deposits $ 1,426,944 $ 1,455,028 Total deposits were $1.427 billion at June 30, 2022 December 31, 2021. June 30, 2022 December 31, 2021. June 30, 2022 December 31, 2021. |
Note 6 - Borrowings
Note 6 - Borrowings | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 6. FNCB has an agreement with the FHLB of Pittsburgh which allows for borrowings, either overnight or term, up to a maximum borrowing capacity based on a percentage of qualifying loans pledged under a blanket pledge agreement. In addition to pledging loans, FNCB is required to purchase FHLB of Pittsburgh stock based upon the amount of credit extended. Loans that were pledged to collateralize borrowings under this agreement were $478.7 million at June 30, 2022 December 31, 2021. June 30, 2022. June 30, 2022 December 31, 2021. Advances through the Federal Reserve Bank Discount Window generally include short-term advances which are fully collateralized by certain pledged loans of $26.6 million under the Federal Reserve Bank's Borrower-in-Custody ("BIC") program. There were no advances under the BIC program outstanding at June 30, 2022 December 31, 2021. June 30, 2022. The following table presents borrowings, by type, outstanding, at June 30, 2022 December 31, 2021. June 30, December 31, (in thousands) 2022 2021 FHLB of Pittsburgh - overnight $ 118,050 $ - FHLB of Pittsburgh - term - 20,000 Subtotal FHLB of Pittsburgh advances 118,050 20,000 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 128,360 $ 30,310 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 7. 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 six June 30, 2022 2021 For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,467 21.00 % $ 1,336 21.00 % $ 2,574 21.00 % $ 2,767 21.00 % Add (deduct) tax effects of: Tax-free interest income (213 ) (3.04 )% (181 ) (2.85 )% (414 ) (3.38 )% (364 ) (2.76 )% Non-deductible interest expense 12 0.17 % 12 0.19 % 23 0.19 % 23 0.17 % Bank-owned life insurance (41 ) (0.59 )% (31 ) (0.49 )% (72 ) (0.59 )% (145 ) (1.10 )% Unrealized losses (gains) on equity securities 17 0.24 % (8 ) (0.12 )% 43 0.35 % (84 ) (0.64 )% Other items, net 5 0.07 % 3 0.05 % 10 0.09 % (85 ) (0.64 )% Income tax provision $ 1,247 17.85 % $ 1,131 17.78 % $ 2,164 17.66 % $ 2,112 16.03 % 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 June 30, 2022 December 31, 2021. June 30, 2022 December 31, 2021, June 30, 2022 June 30, 2022 December 31, 2021 |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 8. 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 six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Balance, beginning of period $ 76,790 $ 102,498 $ 71,437 $ 98,935 Additions, new loans and advances 14,044 41,469 29,406 49,679 Repayments (8,090 ) (19,810 ) (18,099 ) (24,457 ) Other (1) - (23,657 ) - (23,657 ) Balance, end of period $ 82,744 $ 100,500 $ 82,744 $ 100,500 (1) Other represents loans to related parties that ceased being related parties during the year At June 30, 2022 not Deposits from directors, executive officers and their related parties held by the Bank at June 30, 2022 December 31, 2021 six June 30, 2022 2021 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 2021, three six June 30, 2022 2021. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 9 . 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 June 30, 2022 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. Rental expense incurred for the three six June 30, 2022 2021 The following table summarizes the maturity of remaining operating lease liabilities as of June 30, 2022 (in thousands) June 30, 2022 2022 $ 181 2023 368 2024 323 2025 328 2026 329 2027 and thereafter 2,271 Total lease payments 3,800 Less: imputed interest 709 Present value of operating lease liabilities $ 3,091 The following table presents other information related to our operating leases: (dollars in thousands) June 30, 2022 June 30, 2021 Weighted-average remaining lease term (in years) 11.89 12.90 Weighted-average discount rate 3.27 % 3.31 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 217 $ 215 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 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 10 . 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 six June 30, 2022 2021 June 30, 2022 six June 30, 2022 2021 June 30, 2022 2021 Subsequent to June 30, 2022, July 1, 2022, nine July 1, 2022. The following table summarizes the activity related to FNCB’s unvested restricted stock awards during the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 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 244,775 $ 8.03 225,978 $ 7.34 174,297 $ 7.37 159,913 $ 7.07 Awards granted - - - - 71,860 9.64 66,065 7.98 Forfeitures (1,727 ) 8.70 (7,443 ) 7.38 (3,109 ) 8.05 (7,443 ) 7.38 Shares vested (54,689 ) 7.38 (44,238 ) 7.20 (54,689 ) 7.38 (44,238 ) 7.20 Total outstanding, end of period 188,359 $ 8.22 174,297 $ 7.37 188,359 $ 8.22 174,297 $ 7.37 |
Note 11 - Regulatory Matters_Su
Note 11 - Regulatory Matters/Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 11 . Regulatory Matters 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 six June 30, 2022 three six June 30, 2021. three six June 30, 2022 2021 three six June 30, 2022, 2021. June 30, 2022 July 27, 2022 third 2022 September 15, 2022 September 1, 2022 . On January 26, 2022, may March 4, 2022 December 31, 2022, 10b5 1 not may no June 30, 2022, 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 June 30, 2022 December 31, 2021 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 June 30, 2022 December 31, 2021 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 June 30, 2022 Total capital (to risk-weighted assets) $ 173,466 13.90 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 159,380 12.77 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 159,380 12.77 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 159,380 9.32 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 1,248,030 Total average assets 1,709,602 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, 2021 Total capital (to risk-weighted assets) $ 161,957 14.64 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 148,958 13.46 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 148,958 13.46 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 148,958 8.92 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 1,106,636 Total average assets 1,669,932 |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 12 . 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 June 30, 2022 June 30, 2022, not third June 30, 2022. 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 June 30, 2022 December 31, 2021 Fair Value Measurements at June 30, 2022 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. treasuries $ 34,032 $ - $ 34,032 $ - Obligations of state and political subdivisions 235,868 - 235,868 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 89,739 - 89,739 - Collateralized mortgage obligations - commercial 3,459 - 3,459 - Mortgage-backed securities 21,251 - 21,251 - Private collateralized mortgage obligations 67,096 - 67,096 - Corporate debt securities 31,153 - 23,123 8,030 Asset-backed securities 12,329 - 12,329 - Negotiable certificates of deposit 677 - 677 - Subtotal available-for-sale debt securities 495,604 - 487,574 8,030 Equity securities, at fair value 5,307 5,307 - - Derivative assets 1,540 - 1,540 - Total financial assets $ 502,451 $ 5,307 $ 489,114 $ 8,030 Financial liabilities: Derivative liabilities $ 571 $ - $ 571 $ - Total financial liabilities $ 571 $ - $ 571 $ - Fair Value Measurements at December 31, 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. treasuries $ 36,355 $ - $ 36,355 $ - Obligations of state and political subdivisions 244,372 - 244,372 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 100,710 - 100,710 - Collateralized mortgage obligations - commercial 3,727 - 3,727 - Mortgage-backed securities 25,506 - 25,506 - Private collateralized mortgage obligations 67,165 - 67,165 - Corporate debt securities 32,063 - 19,718 12,345 Asset-backed securities 11,932 - 11,932 - Negotiable certificates of deposit 736 - 736 - Subtotal available-for-sale debt securities 522,566 - 510,221 12,345 Equity securities, at fair value 4,922 4,922 - - Derivative assets 363 - 363 Total financial assets $ 527,851 $ 4,922 $ 510,584 $ 12,345 Financial liabilities: Derivative liabilities $ 99 $ - $ 99 $ - Total financial liabilities $ 99 $ - $ 99 $ - There were securities transferred between hierarchy levels during the three June 30, 2022 2021. 3 2 six June 30, 2022. six June 30, 2021, 3 2. not third 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 six June 30, 2022 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities Corporate Debt Securities For the Three Months Ended June 30, For the Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Balance, beginning of period $ 11,265 $ 14,334 $ 12,345 $ 16,424 Additions - 2,250 - 4,000 Redemptions (2,066 ) - (2,066 ) - Transfer to Level 2 - - (756 ) (3,947 ) Sales - - - - Total gains or losses (realized/unrealized): Included in earnings - - - - Included in other comprehensive (loss) income (1,169 ) 25 (1,493 ) 132 Balance at June 30, $ 8,030 $ 16,609 $ 8,030 $ 16,609 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 June 30, 2022 December 31, 2021 3 June 30, 2022 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 2,116 $ - $ 2,116 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 6,493 23 6,470 Discounted cash flows Discount rate 3.00% 8.75% Other real estate owned 228 - 228 Appraisal of collateral/Sales contract Selling cost 1.0 % December 31, 2021 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 3,208 $ - $ 3,208 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 6,765 26 6,739 Discounted cash flows Discount rate 3.00% - 8.75% Other real estate owned 920 - 920 Appraisal of collateral/Sales contract Selling cost 1.0 % 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 June 30, 2022 December 31, 2021 not not not may Fair Value June 30, 2022 December 31, 2021 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and cash equivalents Level 1 $ 27,392 $ 27,392 $ 99,020 $ 99,020 Available-for-sale debt securities See previous table 495,604 495,604 522,566 522,566 Equity securities Level 1 5,307 5,307 4,922 4,922 Restricted stock Level 2 5,787 5,787 1,911 1,911 Loans held for sale Level 2 667 667 - - Loans and leases, net Level 3 1,075,367 1,068,295 967,023 967,087 Accrued interest receivable Level 2 5,103 5,103 4,643 4,643 Servicing rights Level 3 241 578 268 526 Derivative assets Level 2 1,512 1,540 371 363 Financial liabilities: Deposits Level 2 1,426,944 1,424,479 1,455,028 1,454,812 Borrowed funds Level 2 128,360 128,273 30,310 30,310 Accrued interest payable Level 2 85 85 49 49 Derivative liabilities Level 2 571 571 96 99 |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 13. 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 six June 30, 2022 2021 The following table presents the calculation of both basic and diluted earnings per share of common stock for the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share data) 2022 2021 2022 2021 Net income $ 5,738 $ 5,229 $ 10,091 $ 11,062 Basic weighted-average number of common shares outstanding 19,677,109 20,222,216 19,805,485 20,232,183 Plus: Common share equivalents 17,016 10,478 26,920 10,911 Diluted weighted-average number of common shares outstanding 19,694,125 20,232,694 19,832,405 20,243,094 Income per common share: Basic $ 0.29 $ 0.26 $ 0.51 $ 0.55 Diluted $ 0.29 $ 0.26 $ 0.51 $ 0.55 |
Note 14 - Other Comprehensive I
Note 14 - Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 14 . The following table summarizes the reclassifications out of accumulated other comprehensive income for the three six June 30, 2022 2021 For the Three Months Ended June 30, 2022 For the Six Months Ended June 30, 2022 (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 losses reclassified into net income $ 35 Net loss on the sale of available-for-sale debt securities $ 35 Net loss on the sale of available-for-sale debt securities Taxes (7 ) Income taxes (7 ) Income taxes Net of tax amount $ 28 $ 28 For the Three Months Ended June 30, 2021 For the Six Months Ended June 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 ) The following table summarizes the changes in accumulated other comprehensive (loss) income, net of tax for the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Balance, beginning of period $ (17,691 ) $ 8,299 $ 6,352 $ 13,886 Other comprehensive (loss) income before reclassifications (16,737 ) 2,898 (40,780 ) (2,521 ) Amount reclassified from accumulated other comprehensive income 28 - 28 (168 ) Net other comprehensive (loss) income during the period (16,709 ) 2,898 (40,752 ) (2,689 ) Balance, end of period $ (34,400 ) $ 11,197 $ (34,400 ) $ 11,197 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | June 30, 2022 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: U.S. treasuries $ 37,518 $ - $ 3,486 $ 34,032 Obligations of state and political subdivisions 258,501 168 22,801 235,868 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 98,066 - 8,327 89,739 Collateralized mortgage obligations - commercial 3,667 - 208 3,459 Mortgage-backed securities 23,011 23 1,783 21,251 Private collateralized mortgage obligations 73,005 - 5,909 67,096 Corporate debt securities 32,919 16 1,782 31,153 Asset-backed securities 12,659 - 330 12,329 Negotiable certificates of deposit 744 - 67 677 Total available-for-sale debt securities $ 540,090 $ 207 $ 44,693 $ 495,604 December 31, 2021 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: U.S. treasuries $ 36,751 $ 1 $ 397 $ 36,355 Obligations of state and political subdivisions 235,489 9,651 768 244,372 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 101,321 1,158 1,769 100,710 Collateralized mortgage obligations - commercial 3,685 87 45 3,727 Mortgage-backed securities 25,467 263 224 25,506 Private collateralized mortgage obligations 68,137 60 1,032 67,165 Corporate debt securities 31,300 940 177 32,063 Asset-backed securities 11,907 42 17 11,932 Negotiable certificates of deposit 744 - 8 736 Total available-for-sale debt securities $ 514,801 $ 12,202 $ 4,437 $ 522,566 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2022 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 6,249 $ 6,242 After one year through five years 109,293 105,854 After five years through ten years 78,066 69,398 After ten years 136,074 120,236 Mortgage-backed securities 23,011 21,251 Collateralized mortgage obligations 174,738 160,294 Asset-backed securities 12,659 12,329 Total available-for-sale debt securities $ 540,090 $ 495,604 |
Gain (Loss) on Securities [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Available-for-sale debt securities: Gross proceeds received on sales $ 2,372 $ - $ 2,372 $ 2,981 Gross realized gains - - - 213 Gross realized losses (35 ) - (35 ) - Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Net (losses) gains recognized on equity securities $ (82 ) $ 36 $ (207 ) $ 400 Less: net gains recognized on equity securities sold/acquired - - - - Unrealized (losses) gains on equity securities $ (82 ) $ 36 $ (207 ) $ 400 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2022 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. treasuries 18 $ 34,032 $ 3,486 - $ - $ - 18 $ 34,032 $ 3,486 Obligations of state and political subdivisions 208 218,673 22,130 5 2,553 671 213 221,226 22,801 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 28 52,424 3,737 14 37,315 4,590 42 89,739 8,327 Collateralized mortgage obligations - commercial 2 1,975 31 1 1,484 177 3 3,459 208 Mortgage-backed securities 6 10,677 1,350 2 3,594 433 8 14,271 1,783 Private collateralized mortgage obligations 42 59,935 5,374 5 7,161 535 47 67,096 5,909 Corporate debt securities 22 25,729 1,640 3 2,858 142 25 28,587 1,782 Asset-backed securities 8 10,772 280 2 1,557 50 10 12,329 330 Negotiable certificates of deposit 3 677 67 - - - 3 677 67 Total available-for-sale debt securities 337 $ 414,894 $ 38,095 32 $ 56,522 $ 6,598 369 $ 471,416 $ 44,693 December 31, 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. treasuries 16 $ 35,394 $ 397 - $ - $ - 16 $ 35,394 $ 397 Obligations of state and political subdivisions 41 36,107 702 2 1,257 66 43 37,364 768 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 20 58,848 1,530 2 5,713 239 22 64,561 1,769 Collateralized mortgage obligations - commercial 1 1,632 45 - - - 1 1,632 45 Mortgage-backed securities 6 14,585 204 1 1,596 20 7 16,181 224 Private collateralized mortgage obligations 22 44,425 897 3 6,213 135 25 50,638 1,032 Corporate debt securities 9 7,643 107 2 2,180 70 11 9,823 177 Asset-backed securities 4 3,810 14 2 1,293 3 6 5,103 17 Negotiable certificates of deposit 3 736 8 - - - 3 736 8 Total available-for-sale debt securities 122 $ 203,180 $ 3,904 12 $ 18,252 $ 533 134 $ 221,432 $ 4,437 |
Investment [Table Text Block] | June 30, December 31, (in thousands) 2022 2021 Stock in Federal Home Loan Bank of Pittsburgh $ 5,777 $ 1,901 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 5,787 $ 1,911 |
Note 4 - Loans and Leases (Tabl
Note 4 - Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, (in thousands) 2022 2021 Residential real estate $ 250,480 $ 234,113 Commercial real estate 368,423 366,009 Construction, land acquisition and development 62,495 41,646 Commercial and industrial 230,089 193,086 Consumer 98,905 85,522 State and political subdivisions 77,644 61,071 Total loans and leases, gross 1,088,036 981,447 Unearned income (719 ) (1,442 ) Net deferred loan origination fees (costs) 1,431 (566 ) Allowance for loan and lease losses (13,381 ) (12,416 ) Loans and leases, net $ 1,075,367 $ 967,023 |
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 June 30, 2022 Allowance for loan and lease losses: Beginning balance, April 1, 2022 $ 2,196 $ 4,424 $ 538 $ 3,092 $ 1,259 $ 491 $ 1,129 $ 13,129 Charge-offs - - - (13 ) (290 ) - - (303 ) Recoveries - 224 - 7 262 - - 493 Provisions (credits) 12 (566 ) 208 218 76 114 - 62 Ending balance, June 30, 2022 $ 2,208 $ 4,082 $ 746 $ 3,304 $ 1,307 $ 605 $ 1,129 $ 13,381 Three months ended June 30, 2021 Allowance for loan and lease losses: Beginning balance, April 1, 2021 $ 1,732 $ 4,521 $ 516 $ 2,603 $ 1,219 $ 387 $ 1,098 $ 12,076 Charge-offs (6 ) - - (11 ) (119 ) - - (136 ) Recoveries 13 - - 7 170 - - 190 Provisions (credits) 119 127 (23 ) (116 ) (93 ) 122 19 155 Ending balance, June 30, 2021 $ 1,858 $ 4,648 $ 493 $ 2,483 $ 1,177 $ 509 $ 1,117 $ 12,285 Six months ended June 30, 2022 Allowance for loan and lease losses: Beginning balance, January 1, 2022 $ 2,081 $ 4,530 $ 392 $ 2,670 $ 1,159 $ 455 $ 1,129 $ 12,416 Charge-offs (3 ) - - (32 ) (363 ) - - (398 ) Recoveries - 224 - 11 307 - - 542 Provisions (credits) 130 (672 ) 354 655 204 150 - 821 Ending balance, June 30, 2022 $ 2,208 $ 4,082 $ 746 $ 3,304 $ 1,307 $ 605 $ 1,129 $ 13,381 Six months ended June 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 (6 ) - - (30 ) (461 ) - - (497 ) Recoveries 16 46 - 32 397 - - 491 Provisions (credits) 133 334 (45 ) (138 ) (78 ) 104 31 341 Ending balance, June 30, 2021 $ 1,858 $ 4,648 $ 493 $ 2,483 $ 1,177 $ 509 $ 1,117 $ 12,285 Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total June 30, 2022 Allowance for loan and lease losses: Individually evaluated for impairment $ 12 $ 5 $ - $ 6 $ - $ - $ - $ 23 Collectively evaluated for impairment 2,196 4,077 746 3,298 1,307 605 1,129 13,358 Total $ 2,208 $ 4,082 $ 746 $ 3,304 $ 1,307 $ 605 $ 1,129 $ 13,381 Loans and leases receivable: Individually evaluated for impairment $ 1,749 $ 6,449 $ - $ 411 $ - $ - $ - $ 8,609 Collectively evaluated for impairment 248,731 361,974 62,495 229,678 98,905 77,644 - 1,079,427 Total $ 250,480 $ 368,423 $ 62,495 $ 230,089 $ 98,905 $ 77,644 $ - $ 1,088,036 December 31, 2021 Allowance for loan and lease losses: Individually evaluated for impairment $ 9 $ 6 $ - $ 11 $ - $ - $ - $ 26 Collectively evaluated for impairment 2,072 4,524 392 2,659 1,159 455 1,129 12,390 Total $ 2,081 $ 4,530 $ 392 $ 2,670 $ 1,159 $ 455 $ 1,129 $ 12,416 Loans and leases receivable: Individually evaluated for impairment $ 1,681 $ 7,530 $ - $ 762 $ - $ - $ - $ 9,973 Collectively evaluated for impairment 232,432 358,479 41,646 192,324 85,522 61,071 - 971,474 Total $ 234,113 $ 366,009 $ 41,646 $ 193,086 $ 85,522 $ 61,071 $ - $ 981,447 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators June 30, 2022 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 $ 42,833 $ 480 $ 72 $ - $ - $ 43,385 $ 206,295 $ 800 $ 207,095 $ 250,480 Commercial real estate 359,498 6,831 2,094 - - 368,423 - - - 368,423 Construction, land acquisition and development 57,340 1,655 - - - 58,995 3,500 - 3,500 62,495 Commercial and industrial 218,098 9,022 874 - - 227,994 2,095 - 2,095 230,089 Consumer - - - - - - 98,719 186 98,905 98,905 State and political subdivisions 77,642 - - - - 77,642 2 - 2 77,644 Total $ 755,411 $ 17,988 $ 3,040 $ - $ - $ 776,439 $ 310,611 $ 986 $ 311,597 $ 1,088,036 Credit Quality Indicators December 31, 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 $ 42,028 $ 530 $ 77 $ - $ - $ 42,635 $ 190,919 $ 559 $ 191,478 $ 234,113 Commercial real estate 350,904 8,232 6,873 - - 366,009 - - - 366,009 Construction, land acquisition and development 34,869 - - - - 34,869 6,777 - 6,777 41,646 Commercial and industrial 187,554 1,877 1,343 - - 190,774 2,312 - 2,312 193,086 Consumer - - - - - - 85,291 231 85,522 85,522 State and political subdivisions 61,066 - - - - 61,066 5 - 5 61,071 Total $ 676,421 $ 10,639 $ 8,293 $ - $ - $ 695,353 $ 285,304 $ 790 $ 286,094 $ 981,447 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2022 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 $ 249,580 $ 6 $ 22 $ - $ 249,608 Commercial real estate 366,727 42 112 - 366,881 Construction, land acquisition and development 62,495 - - - 62,495 Commercial and industrial 229,885 39 1 - 229,925 Consumer 97,430 1,119 156 14 98,719 State and political subdivisions 77,644 - - - 77,644 Total performing (accruing) loans and leases 1,083,761 1,206 291 14 1,085,272 Non-accrual loans and leases: Residential real estate 47 91 91 642 871 Commercial real estate 215 - - 1,327 1,542 Construction, land acquisition and development - - - - - Commercial and industrial 164 - - - 164 Consumer 65 54 40 28 187 State and political subdivisions - - - - - Total non-accrual loans and leases 491 145 131 1,997 2,764 Total loans and leases receivable $ 1,084,252 $ 1,351 $ 422 $ 2,011 $ 1,088,036 December 31, 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 $ 233,054 $ 406 $ 17 $ - $ 233,477 Commercial real estate 363,394 116 - - 363,510 Construction, land acquisition and development 41,646 - - - 41,646 Commercial and industrial 192,584 4 1 - 192,589 Consumer 84,333 754 204 - 85,291 State and political subdivisions 61,071 - - - 61,071 Total performing (accruing) loans and leases 976,082 1,280 222 - 977,584 Non-accrual loans and leases: Residential real estate 67 27 87 455 636 Commercial real estate 1,172 - - 1,327 2,499 Construction, land acquisition and development - - - - - Commercial and industrial 497 - - - 497 Consumer 117 85 15 14 231 State and political subdivisions - - - - - Total non-accrual loans and leases 1,853 112 102 1,796 3,863 Total loans and leases receivable $ 977,935 $ 1,392 $ 324 $ 1,796 $ 981,447 |
Impaired Financing Receivables [Table Text Block] | June 30, 2022 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 587 $ 660 $ - Commercial real estate 1,542 1,787 - Construction, land acquisition and development - - - Commercial and industrial 228 228 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 2,357 2,675 - With a related allowance recorded: Residential real estate 1,162 1,162 12 Commercial real estate 4,907 4,907 5 Construction, land acquisition and development - - - Commercial and industrial 183 401 6 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 6,252 6,470 23 Total impaired loans: Residential real estate 1,749 1,822 12 Commercial real estate 6,449 6,694 5 Construction, land acquisition and development - - - Commercial and industrial 411 629 6 Consumer - - - State and political subdivisions - - - Total impaired loans $ 8,609 $ 9,145 $ 23 December 31, 2021 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 395 $ 463 $ - Commercial real estate 2,499 4,230 - Construction, land acquisition and development - - - Commercial and industrial 314 347 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,208 5,040 - With a related allowance recorded: Residential real estate 1,286 1,285 9 Commercial real estate 5,031 5,031 6 Construction, land acquisition and development - - - Commercial and industrial 448 666 11 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 6,765 6,982 26 Total impaired loans: Residential real estate 1,681 1,748 9 Commercial real estate 7,530 9,261 6 Construction, land acquisition and development - - - Commercial and industrial 762 1,013 11 Consumer - - - State and political subdivisions - - - Total impaired loans $ 9,973 $ 12,022 $ 26 |
Schedule of Average Balance and Interest Income on Impaired Loans [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 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 $ 1,757 $ 15 $ 2,094 $ 17 $ 1,740 $ 30 $ 2,092 $ 35 Commercial real estate 6,472 58 8,183 56 6,961 112 8,233 113 Construction, land acquisition and development - - 66 1 - - 67 2 Commercial and industrial 417 6 929 2 576 10 895 4 Consumer - - - - - - - - State and political subdivisions - - - - - - - - Total impaired loans $ 8,646 $ 79 $ 11,272 $ 76 $ 9,277 $ 152 $ 11,287 $ 154 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | June 30, December 31, (in thousands) 2022 2021 Demand (non-interest bearing) $ 317,725 $ 320,089 Interest-bearing: Interest-bearing demand 796,458 857,849 Savings 145,168 134,224 Time ($250,000 and over) 25,630 26,531 Other time 141,963 116,335 Total interest-bearing 1,109,219 1,134,939 Total deposits $ 1,426,944 $ 1,455,028 |
Note 6 - Borrowings (Tables)
Note 6 - Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, December 31, (in thousands) 2022 2021 FHLB of Pittsburgh - overnight $ 118,050 $ - FHLB of Pittsburgh - term - 20,000 Subtotal FHLB of Pittsburgh advances 118,050 20,000 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 128,360 $ 30,310 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,467 21.00 % $ 1,336 21.00 % $ 2,574 21.00 % $ 2,767 21.00 % Add (deduct) tax effects of: Tax-free interest income (213 ) (3.04 )% (181 ) (2.85 )% (414 ) (3.38 )% (364 ) (2.76 )% Non-deductible interest expense 12 0.17 % 12 0.19 % 23 0.19 % 23 0.17 % Bank-owned life insurance (41 ) (0.59 )% (31 ) (0.49 )% (72 ) (0.59 )% (145 ) (1.10 )% Unrealized losses (gains) on equity securities 17 0.24 % (8 ) (0.12 )% 43 0.35 % (84 ) (0.64 )% Other items, net 5 0.07 % 3 0.05 % 10 0.09 % (85 ) (0.64 )% Income tax provision $ 1,247 17.85 % $ 1,131 17.78 % $ 2,164 17.66 % $ 2,112 16.03 % |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Balance, beginning of period $ 76,790 $ 102,498 $ 71,437 $ 98,935 Additions, new loans and advances 14,044 41,469 29,406 49,679 Repayments (8,090 ) (19,810 ) (18,099 ) (24,457 ) Other (1) - (23,657 ) - (23,657 ) Balance, end of period $ 82,744 $ 100,500 $ 82,744 $ 100,500 (1) Other represents loans to related parties that ceased being related parties during the year |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) June 30, 2022 2022 $ 181 2023 368 2024 323 2025 328 2026 329 2027 and thereafter 2,271 Total lease payments 3,800 Less: imputed interest 709 Present value of operating lease liabilities $ 3,091 |
Lease, Other Information Related to Operating Leases [Table Text Block] | (dollars in thousands) June 30, 2022 June 30, 2021 Weighted-average remaining lease term (in years) 11.89 12.90 Weighted-average discount rate 3.27 % 3.31 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 217 $ 215 |
Note 10 - Stock Compensation _2
Note 10 - Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 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 244,775 $ 8.03 225,978 $ 7.34 174,297 $ 7.37 159,913 $ 7.07 Awards granted - - - - 71,860 9.64 66,065 7.98 Forfeitures (1,727 ) 8.70 (7,443 ) 7.38 (3,109 ) 8.05 (7,443 ) 7.38 Shares vested (54,689 ) 7.38 (44,238 ) 7.20 (54,689 ) 7.38 (44,238 ) 7.20 Total outstanding, end of period 188,359 $ 8.22 174,297 $ 7.37 188,359 $ 8.22 174,297 $ 7.37 |
Note 11 - Regulatory Matters__2
Note 11 - Regulatory Matters/Subsequent Events (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 June 30, 2022 Total capital (to risk-weighted assets) $ 173,466 13.90 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 159,380 12.77 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 159,380 12.77 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 159,380 9.32 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 1,248,030 Total average assets 1,709,602 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, 2021 Total capital (to risk-weighted assets) $ 161,957 14.64 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 148,958 13.46 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 148,958 13.46 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 148,958 8.92 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 1,106,636 Total average assets 1,669,932 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2022 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. treasuries $ 34,032 $ - $ 34,032 $ - Obligations of state and political subdivisions 235,868 - 235,868 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 89,739 - 89,739 - Collateralized mortgage obligations - commercial 3,459 - 3,459 - Mortgage-backed securities 21,251 - 21,251 - Private collateralized mortgage obligations 67,096 - 67,096 - Corporate debt securities 31,153 - 23,123 8,030 Asset-backed securities 12,329 - 12,329 - Negotiable certificates of deposit 677 - 677 - Subtotal available-for-sale debt securities 495,604 - 487,574 8,030 Equity securities, at fair value 5,307 5,307 - - Derivative assets 1,540 - 1,540 - Total financial assets $ 502,451 $ 5,307 $ 489,114 $ 8,030 Financial liabilities: Derivative liabilities $ 571 $ - $ 571 $ - Total financial liabilities $ 571 $ - $ 571 $ - Fair Value Measurements at December 31, 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. treasuries $ 36,355 $ - $ 36,355 $ - Obligations of state and political subdivisions 244,372 - 244,372 - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 100,710 - 100,710 - Collateralized mortgage obligations - commercial 3,727 - 3,727 - Mortgage-backed securities 25,506 - 25,506 - Private collateralized mortgage obligations 67,165 - 67,165 - Corporate debt securities 32,063 - 19,718 12,345 Asset-backed securities 11,932 - 11,932 - Negotiable certificates of deposit 736 - 736 - Subtotal available-for-sale debt securities 522,566 - 510,221 12,345 Equity securities, at fair value 4,922 4,922 - - Derivative assets 363 - 363 Total financial assets $ 527,851 $ 4,922 $ 510,584 $ 12,345 Financial liabilities: Derivative liabilities $ 99 $ - $ 99 $ - Total financial liabilities $ 99 $ - $ 99 $ - |
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 June 30, For the Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Balance, beginning of period $ 11,265 $ 14,334 $ 12,345 $ 16,424 Additions - 2,250 - 4,000 Redemptions (2,066 ) - (2,066 ) - Transfer to Level 2 - - (756 ) (3,947 ) Sales - - - - Total gains or losses (realized/unrealized): Included in earnings - - - - Included in other comprehensive (loss) income (1,169 ) 25 (1,493 ) 132 Balance at June 30, $ 8,030 $ 16,609 $ 8,030 $ 16,609 |
Fair Value Measurements, Nonrecurring [Table Text Block] | June 30, 2022 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 2,116 $ - $ 2,116 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 6,493 23 6,470 Discounted cash flows Discount rate 3.00% 8.75% Other real estate owned 228 - 228 Appraisal of collateral/Sales contract Selling cost 1.0 % December 31, 2021 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 3,208 $ - $ 3,208 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 6,765 26 6,739 Discounted cash flows Discount rate 3.00% - 8.75% Other real estate owned 920 - 920 Appraisal of collateral/Sales contract Selling cost 1.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value June 30, 2022 December 31, 2021 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and cash equivalents Level 1 $ 27,392 $ 27,392 $ 99,020 $ 99,020 Available-for-sale debt securities See previous table 495,604 495,604 522,566 522,566 Equity securities Level 1 5,307 5,307 4,922 4,922 Restricted stock Level 2 5,787 5,787 1,911 1,911 Loans held for sale Level 2 667 667 - - Loans and leases, net Level 3 1,075,367 1,068,295 967,023 967,087 Accrued interest receivable Level 2 5,103 5,103 4,643 4,643 Servicing rights Level 3 241 578 268 526 Derivative assets Level 2 1,512 1,540 371 363 Financial liabilities: Deposits Level 2 1,426,944 1,424,479 1,455,028 1,454,812 Borrowed funds Level 2 128,360 128,273 30,310 30,310 Accrued interest payable Level 2 85 85 49 49 Derivative liabilities Level 2 571 571 96 99 |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share data) 2022 2021 2022 2021 Net income $ 5,738 $ 5,229 $ 10,091 $ 11,062 Basic weighted-average number of common shares outstanding 19,677,109 20,222,216 19,805,485 20,232,183 Plus: Common share equivalents 17,016 10,478 26,920 10,911 Diluted weighted-average number of common shares outstanding 19,694,125 20,232,694 19,832,405 20,243,094 Income per common share: Basic $ 0.29 $ 0.26 $ 0.51 $ 0.55 Diluted $ 0.29 $ 0.26 $ 0.51 $ 0.55 |
Note 14 - Other Comprehensive_2
Note 14 - Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Three Months Ended June 30, 2022 For the Six Months Ended June 30, 2022 (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 losses reclassified into net income $ 35 Net loss on the sale of available-for-sale debt securities $ 35 Net loss on the sale of available-for-sale debt securities Taxes (7 ) Income taxes (7 ) Income taxes Net of tax amount $ 28 $ 28 For the Three Months Ended June 30, 2021 For the Six Months Ended June 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 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Balance, beginning of period $ (17,691 ) $ 8,299 $ 6,352 $ 13,886 Other comprehensive (loss) income before reclassifications (16,737 ) 2,898 (40,780 ) (2,521 ) Amount reclassified from accumulated other comprehensive income 28 - 28 (168 ) Net other comprehensive (loss) income during the period (16,709 ) 2,898 (40,752 ) (2,689 ) Balance, end of period $ (34,400 ) $ 11,197 $ (34,400 ) $ 11,197 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) $ in Millions | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Number of Non-government Securities of Any Individual Issuer Exceeding 10 Percent of Shareholders' Equity | 0 | 0 |
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 | $ 0.5 | $ 0.5 |
Note 3 - Securities - Available
Note 3 - Securities - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Available-for-sale debt securities, amortized cost | $ 540,090 | $ 514,801 |
Available-for-sale debt securities, gross unrealized holding gains | 207 | 12,202 |
Available-for-sale debt securities, gross unrealized holding losses | 44,693 | 4,437 |
Available-for-sale debt securities | 495,604 | 522,566 |
US Treasury Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 37,518 | 36,751 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 1 |
Available-for-sale debt securities, gross unrealized holding losses | 3,486 | 397 |
Available-for-sale debt securities | 34,032 | 36,355 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 258,501 | 235,489 |
Available-for-sale debt securities, gross unrealized holding gains | 168 | 9,651 |
Available-for-sale debt securities, gross unrealized holding losses | 22,801 | 768 |
Available-for-sale debt securities | 235,868 | 244,372 |
Residential Mortgage-Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 98,066 | 101,321 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 1,158 |
Available-for-sale debt securities, gross unrealized holding losses | 8,327 | 1,769 |
Available-for-sale debt securities | 89,739 | 100,710 |
Commercial Mortgage-Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 3,667 | 3,685 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 87 |
Available-for-sale debt securities, gross unrealized holding losses | 208 | 45 |
Available-for-sale debt securities | 3,459 | 3,727 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 23,011 | 25,467 |
Available-for-sale debt securities, gross unrealized holding gains | 23 | 263 |
Available-for-sale debt securities, gross unrealized holding losses | 1,783 | 224 |
Available-for-sale debt securities | 21,251 | 25,506 |
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, amortized cost | 73,005 | 68,137 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 60 |
Available-for-sale debt securities, gross unrealized holding losses | 5,909 | 1,032 |
Available-for-sale debt securities | 67,096 | 67,165 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 32,919 | 31,300 |
Available-for-sale debt securities, gross unrealized holding gains | 16 | 940 |
Available-for-sale debt securities, gross unrealized holding losses | 1,782 | 177 |
Available-for-sale debt securities | 31,153 | 32,063 |
Asset-Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 12,659 | 11,907 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 42 |
Available-for-sale debt securities, gross unrealized holding losses | 330 | 17 |
Available-for-sale debt securities | 12,329 | 11,932 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, amortized cost | 744 | 744 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 0 |
Available-for-sale debt securities, gross unrealized holding losses | 67 | 8 |
Available-for-sale debt securities | $ 677 | $ 736 |
Note 3 - Securities - Availab_2
Note 3 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
One year or less, amortized cost | $ 6,249 | |
One year or less, fair value | 6,242 | |
After one year through five years, amortized cost | 109,293 | |
After one year through five years, fair value | 105,854 | |
After five years through ten years, amortized cost | 78,066 | |
After five years through ten years, fair value | 69,398 | |
After ten years, amortized cost | 136,074 | |
After ten years, fair value | 120,236 | |
Available-for-sale debt securities, amortized cost | 540,090 | $ 514,801 |
Available-for-sale debt securities | 495,604 | 522,566 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 23,011 | |
Securities without a single maturity, fair value | 21,251 | |
Available-for-sale debt securities, amortized cost | 23,011 | 25,467 |
Available-for-sale debt securities | 21,251 | 25,506 |
Collateralized Mortgage Obligations [Member] | ||
Securities without a single maturity, amortized cost | 174,738 | |
Securities without a single maturity, fair value | 160,294 | |
Asset-Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 12,659 | |
Securities without a single maturity, fair value | 12,329 | |
Available-for-sale debt securities, amortized cost | 12,659 | 11,907 |
Available-for-sale debt securities | $ 12,329 | $ 11,932 |
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 | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Proceeds from the sale of available-for-sale debt securities | $ 2,372 | $ 0 | $ 2,372 | $ 2,981 |
Gross realized gains | 0 | 0 | 0 | 213 |
Gross realized losses | (35) | 0 | (35) | 0 |
Net (losses) gains recognized on equity securities | (82) | 36 | (207) | 400 |
Less: net gains recognized on equity securities sold/acquired | 0 | 0 | 0 | 0 |
Unrealized (losses) gains on equity securities | $ (82) | $ 36 | $ (207) | $ 400 |
Note 3 - Securities - Availab_3
Note 3 - Securities - Available-for-sale Debt Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Less than 12 months, number of securities | 337 | 122 |
Less than 12 months, fair value | $ 414,894 | $ 203,180 |
Less than 12 months, gross unrealized losses | $ 38,095 | $ 3,904 |
12 months or longer, number of securities | 32 | 12 |
12 months or longer, fair value | $ 56,522 | $ 18,252 |
12 months or longer, gross unrealized losses | $ 6,598 | $ 533 |
Total, number of securities | 369 | 134 |
Total, fair value | $ 471,416 | $ 221,432 |
Total, gross unrealized losses | $ 44,693 | $ 4,437 |
US Treasury Securities [Member] | ||
Less than 12 months, number of securities | 18 | 16 |
Less than 12 months, fair value | $ 34,032 | $ 35,394 |
Less than 12 months, gross unrealized losses | $ 3,486 | $ 397 |
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 | 18 | 16 |
Total, fair value | $ 34,032 | $ 35,394 |
Total, gross unrealized losses | $ 3,486 | $ 397 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, number of securities | 208 | 41 |
Less than 12 months, fair value | $ 218,673 | $ 36,107 |
Less than 12 months, gross unrealized losses | $ 22,130 | $ 702 |
12 months or longer, number of securities | 5 | 2 |
12 months or longer, fair value | $ 2,553 | $ 1,257 |
12 months or longer, gross unrealized losses | $ 671 | $ 66 |
Total, number of securities | 213 | 43 |
Total, fair value | $ 221,226 | $ 37,364 |
Total, gross unrealized losses | $ 22,801 | $ 768 |
Residential Mortgage-Backed Securities [Member] | ||
Less than 12 months, number of securities | 28 | 20 |
Less than 12 months, fair value | $ 52,424 | $ 58,848 |
Less than 12 months, gross unrealized losses | $ 3,737 | $ 1,530 |
12 months or longer, number of securities | 14 | 2 |
12 months or longer, fair value | $ 37,315 | $ 5,713 |
12 months or longer, gross unrealized losses | $ 4,590 | $ 239 |
Total, number of securities | 42 | 22 |
Total, fair value | $ 89,739 | $ 64,561 |
Total, gross unrealized losses | $ 8,327 | $ 1,769 |
Commercial Mortgage-Backed Securities [Member] | ||
Less than 12 months, number of securities | 2 | 1 |
Less than 12 months, fair value | $ 1,975 | $ 1,632 |
Less than 12 months, gross unrealized losses | $ 31 | $ 45 |
12 months or longer, number of securities | 1 | 0 |
12 months or longer, fair value | $ 1,484 | $ 0 |
12 months or longer, gross unrealized losses | $ 177 | $ 0 |
Total, number of securities | 3 | 1 |
Total, fair value | $ 3,459 | $ 1,632 |
Total, gross unrealized losses | $ 208 | $ 45 |
Collateralized Mortgage-Backed Securities [Member] | ||
Less than 12 months, number of securities | 6 | 6 |
Less than 12 months, fair value | $ 10,677 | $ 14,585 |
Less than 12 months, gross unrealized losses | $ 1,350 | $ 204 |
12 months or longer, number of securities | 2 | 1 |
12 months or longer, fair value | $ 3,594 | $ 1,596 |
12 months or longer, gross unrealized losses | $ 433 | $ 20 |
Total, number of securities | 8 | 7 |
Total, fair value | $ 14,271 | $ 16,181 |
Total, gross unrealized losses | $ 1,783 | $ 224 |
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Less than 12 months, number of securities | 42 | 22 |
Less than 12 months, fair value | $ 59,935 | $ 44,425 |
Less than 12 months, gross unrealized losses | $ 5,374 | $ 897 |
12 months or longer, number of securities | 5 | 3 |
12 months or longer, fair value | $ 7,161 | $ 6,213 |
12 months or longer, gross unrealized losses | $ 535 | $ 135 |
Total, number of securities | 47 | 25 |
Total, fair value | $ 67,096 | $ 50,638 |
Total, gross unrealized losses | $ 5,909 | $ 1,032 |
Corporate Debt Securities [Member] | ||
Less than 12 months, number of securities | 22 | 9 |
Less than 12 months, fair value | $ 25,729 | $ 7,643 |
Less than 12 months, gross unrealized losses | $ 1,640 | $ 107 |
12 months or longer, number of securities | 3 | 2 |
12 months or longer, fair value | $ 2,858 | $ 2,180 |
12 months or longer, gross unrealized losses | $ 142 | $ 70 |
Total, number of securities | 25 | 11 |
Total, fair value | $ 28,587 | $ 9,823 |
Total, gross unrealized losses | $ 1,782 | $ 177 |
Asset-Backed Securities [Member] | ||
Less than 12 months, number of securities | 8 | 4 |
Less than 12 months, fair value | $ 10,772 | $ 3,810 |
Less than 12 months, gross unrealized losses | $ 280 | $ 14 |
12 months or longer, number of securities | 2 | 2 |
12 months or longer, fair value | $ 1,557 | $ 1,293 |
12 months or longer, gross unrealized losses | $ 50 | $ 3 |
Total, number of securities | 10 | 6 |
Total, fair value | $ 12,329 | $ 5,103 |
Total, gross unrealized losses | $ 330 | $ 17 |
Negotiable Certificates of Deposit [Member] | ||
Less than 12 months, number of securities | 3 | 3 |
Less than 12 months, fair value | $ 677 | $ 736 |
Less than 12 months, gross unrealized losses | $ 67 | $ 8 |
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 | 3 | 3 |
Total, fair value | $ 677 | $ 736 |
Total, gross unrealized losses | $ 67 | $ 8 |
Note 3 - Securities - Restricte
Note 3 - Securities - Restricted Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Stock in Atlantic Community Banker's Bank | $ 10 | $ 10 |
Restricted stock, at cost | 5,787 | 1,911 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Stock in Federal Home Loan Bank of Pittsburgh | $ 5,777 | $ 1,901 |
Note 4 - Loans and Leases (Deta
Note 4 - Loans and Leases (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | |
Loans and Leases Receivable, Gross | $ 1,088,036 | $ 1,088,036 | $ 981,447 | |||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 1,431 | 1,431 | (566) | |||
Loans and Leases Receivable, Allowance, Ending Balance | 13,381 | 13,381 | 12,416 | |||
Gain (Loss) on Sales of Loans, Net, Total | 32 | $ 47 | 32 | $ 271 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 667 | $ 667 | 0 | |||
Loans Still Classified as Non-accrual Status, Period of Past Due (Day) | 90 days | |||||
Financing Receivable, Nonaccrual | 2,800 | $ 2,800 | 3,900 | |||
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 | 1,079,427 | 1,079,427 | 971,474 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 43 | $ 55 | 86 | $ 115 | ||
Financing Receivable, Troubled Debt Restructuring | 6,500 | 6,500 | 6,900 | |||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Number of Real Estate Properties, Foreclosed | 0 | |||||
Real Estate Owned, Transfer to Real Estate Owned | $ 0 | $ 138 | ||||
Troubled Debt Restructuring [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 23 | 23 | 26 | |||
Nonaccrual Loans [Member] | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 600 | 600 | 600 | |||
Performing Financial Instruments [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 6,300 | 6,300 | 6,700 | |||
Nonperforming Financial Instruments [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 200 | 200 | 200 | |||
One- to Four-family Mortgages [Member] | ||||||
Recorded Investment of Mortgage Loans Sold | 2,200 | $ 1,600 | 2,700 | 5,900 | ||
Gain (Loss) on Sales of Loans, Net, Total | 32 | $ 47 | 32 | $ 271 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 667 | 667 | ||||
Small Business Administration [Member] | ||||||
Loans Serviced for Others, Unpaid Principal Balance | 75,400 | 75,400 | 77,200 | |||
Commercial and Industrial [Member] | ||||||
Loans and Leases Receivable, Gross | 230,089 | 230,089 | 193,086 | |||
Financing Receivable, Collectively Evaluated for Impairment | 229,678 | 229,678 | 192,324 | |||
Commercial and Industrial [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||||
Loans and Leases Receivable, Gross | 1,700 | 1,700 | 21,900 | |||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 79 | 79 | 1,000 | |||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | 0 | 0 | |||
Simple Loans [Member] | Commercial Equipment Financing [Member] | ||||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 42,400 | 42,400 | 7,900 | |||
Municipal Leases [Member] | Commercial Equipment Financing [Member] | ||||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,600 | 3,600 | 2,400 | |||
Direct Finance Leases [Member] | Commercial Equipment Financing [Member] | ||||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 400 | 400 | 0 | |||
Residential Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross | $ 250,480 | $ 250,480 | $ 234,113 | |||
Number of Real Estate Properties in OREO | 3 | 1 | 3 | 1 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 230 | $ 94 | $ 230 | $ 94 | ||
Real Estate Investment Property, Foreclosed | 138 | 138 | ||||
Selling Price of Property Under Agreement of Sale | $ 205 | |||||
Real Estate Owned, Transfer to Real Estate Owned | 178 | 178 | ||||
Residential Portfolio Segment [Member] | Noninterest Income [Member] | ||||||
Fair Value Adjustment of Foreclosed Asset Held for Sale | $ 40 | $ 40 |
Note 4 - Loans and Leases - Loa
Note 4 - Loans and Leases - Loans Receivable, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans, gross | $ 1,088,036 | $ 981,447 |
Unearned income | (719) | (1,442) |
Net deferred loan origination fees (costs) | 1,431 | (566) |
Allowance for loan and lease losses | (13,381) | (12,416) |
Loans and leases, net | 1,075,367 | 967,023 |
Residential Portfolio Segment [Member] | ||
Loans, gross | 250,480 | 234,113 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, gross | 368,423 | 366,009 |
Construction, Land Acquisition and Development [Member] | ||
Loans, gross | 62,495 | 41,646 |
Commercial and Industrial [Member] | ||
Loans, gross | 230,089 | 193,086 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 98,905 | 85,522 |
State and Political Subdivisions [Member] | ||
Loans, gross | $ 77,644 | $ 61,071 |
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 | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Balance | $ 13,129 | $ 12,076 | $ 12,416 | $ 11,950 | |
Charge-offs | (303) | (136) | (398) | (497) | |
Recoveries | 493 | 190 | 542 | 491 | |
Provision for loan and lease losses | 62 | 155 | 821 | 341 | |
Balance | 13,381 | 12,285 | 13,381 | 12,285 | |
Individually evaluated for impairment, allowance | 23 | 23 | $ 26 | ||
Collectively evaluated for impairment, allowance | 13,358 | 13,358 | 12,390 | ||
Total, allowance | 13,381 | 12,285 | 13,381 | 12,285 | 12,416 |
Individually evaluated for impairment | 8,609 | 8,609 | 9,973 | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,079,427 | 1,079,427 | 971,474 | ||
Total | 1,088,036 | 1,088,036 | 981,447 | ||
Residential Portfolio Segment [Member] | |||||
Total | 250,480 | 250,480 | 234,113 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance | 2,196 | 1,732 | 2,081 | 1,715 | |
Charge-offs | 0 | (6) | (3) | (6) | |
Recoveries | 0 | 13 | 0 | 16 | |
Provision for loan and lease losses | 12 | 119 | 130 | 133 | |
Balance | 2,208 | 1,858 | 2,208 | 1,858 | |
Individually evaluated for impairment, allowance | 12 | 12 | 9 | ||
Collectively evaluated for impairment, allowance | 2,196 | 2,196 | 2,072 | ||
Total, allowance | 2,208 | 1,858 | 2,208 | 1,858 | 2,081 |
Individually evaluated for impairment | 1,749 | 1,749 | 1,681 | ||
Financing Receivable, Collectively Evaluated for Impairment | 248,731 | 248,731 | 232,432 | ||
Total | 250,480 | 250,480 | 234,113 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Total | 368,423 | 368,423 | 366,009 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance | 4,424 | 4,521 | 4,530 | 4,268 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 224 | 0 | 224 | 46 | |
Provision for loan and lease losses | (566) | 127 | (672) | 334 | |
Balance | 4,082 | 4,648 | 4,082 | 4,648 | |
Individually evaluated for impairment, allowance | 5 | 5 | 6 | ||
Collectively evaluated for impairment, allowance | 4,077 | 4,077 | 4,524 | ||
Total, allowance | 4,082 | 4,648 | 4,082 | 4,648 | 4,530 |
Individually evaluated for impairment | 6,449 | 6,449 | 7,530 | ||
Financing Receivable, Collectively Evaluated for Impairment | 361,974 | 361,974 | 358,479 | ||
Total | 368,423 | 368,423 | 366,009 | ||
Construction, Land Acquisition and Development [Member] | |||||
Total | 62,495 | 62,495 | 41,646 | ||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Balance | 538 | 516 | 392 | 538 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan and lease losses | 208 | (23) | 354 | (45) | |
Balance | 746 | 493 | 746 | 493 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 746 | 746 | 392 | ||
Total, allowance | 746 | 493 | 746 | 493 | 392 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 62,495 | 62,495 | 41,646 | ||
Total | 62,495 | 62,495 | 41,646 | ||
Commercial and Industrial [Member] | |||||
Balance | 3,092 | 2,603 | 2,670 | 2,619 | |
Charge-offs | (13) | (11) | (32) | (30) | |
Recoveries | 7 | 7 | 11 | 32 | |
Provision for loan and lease losses | 218 | (116) | 655 | (138) | |
Balance | 3,304 | 2,483 | 3,304 | 2,483 | |
Individually evaluated for impairment, allowance | 6 | 6 | 11 | ||
Collectively evaluated for impairment, allowance | 3,298 | 3,298 | 2,659 | ||
Total, allowance | 3,304 | 2,483 | 3,304 | 2,483 | 2,670 |
Individually evaluated for impairment | 411 | 411 | 762 | ||
Financing Receivable, Collectively Evaluated for Impairment | 229,678 | 229,678 | 192,324 | ||
Total | 230,089 | 230,089 | 193,086 | ||
Consumer Portfolio Segment [Member] | |||||
Balance | 1,259 | 1,219 | 1,159 | 1,319 | |
Charge-offs | (290) | (119) | (363) | (461) | |
Recoveries | 262 | 170 | 307 | 397 | |
Provision for loan and lease losses | 76 | (93) | 204 | (78) | |
Balance | 1,307 | 1,177 | 1,307 | 1,177 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 1,307 | 1,307 | 1,159 | ||
Total, allowance | 1,307 | 1,177 | 1,307 | 1,177 | 1,159 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 98,905 | 98,905 | 85,522 | ||
Total | 98,905 | 98,905 | 85,522 | ||
State and Political Subdivisions [Member] | |||||
Balance | 491 | 387 | 455 | 405 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan and lease losses | 114 | 122 | 150 | 104 | |
Balance | 605 | 509 | 605 | 509 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 605 | 605 | 455 | ||
Total, allowance | 605 | 509 | 605 | 509 | 455 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 77,644 | 77,644 | 61,071 | ||
Total | 77,644 | 77,644 | 61,071 | ||
Unallocated Financing Receivables [Member] | |||||
Balance | 1,129 | 1,098 | 1,129 | 1,086 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for loan and lease losses | 0 | 19 | 0 | 31 | |
Balance | 1,129 | 1,117 | 1,129 | 1,117 | |
Individually evaluated for impairment, allowance | 0 | 0 | 0 | ||
Collectively evaluated for impairment, allowance | 1,129 | 1,129 | 1,129 | ||
Total, allowance | 1,129 | $ 1,117 | 1,129 | $ 1,117 | 1,129 |
Individually evaluated for impairment | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | 0 | ||
Total | $ 0 | $ 0 | $ 0 |
Note 4 - Loans and Leases - L_2
Note 4 - Loans and Leases - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans | $ 1,088,036 | $ 981,447 |
Commercial Loans [Member] | ||
Loans | 776,439 | 695,353 |
Accruing Loans [Member] | ||
Loans | 310,611 | 285,304 |
Nonaccrual Loans [Member] | ||
Loans | 986 | 790 |
Subtotal, Other Loans [Member] | ||
Loans | 311,597 | 286,094 |
Pass [Member] | Commercial Loans [Member] | ||
Loans | 755,411 | 676,421 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 17,988 | 10,639 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans | 3,040 | 8,293 |
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 | 250,480 | 234,113 |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 43,385 | 42,635 |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 206,295 | 190,919 |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 800 | 559 |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 207,095 | 191,478 |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 42,833 | 42,028 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 480 | 530 |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 72 | 77 |
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 | 368,423 | 366,009 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 368,423 | 366,009 |
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 | 359,498 | 350,904 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 6,831 | 8,232 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 2,094 | 6,873 |
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 | 62,495 | 41,646 |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | ||
Loans | 58,995 | 34,869 |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | ||
Loans | 3,500 | 6,777 |
Construction, Land Acquisition and Development [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Subtotal, Other Loans [Member] | ||
Loans | 3,500 | 6,777 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 57,340 | 34,869 |
Construction, Land Acquisition and Development [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 1,655 | 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 | 230,089 | 193,086 |
Commercial and Industrial [Member] | Commercial Loans [Member] | ||
Loans | 227,994 | 190,774 |
Commercial and Industrial [Member] | Accruing Loans [Member] | ||
Loans | 2,095 | 2,312 |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | ||
Loans | 2,095 | 2,312 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 218,098 | 187,554 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 9,022 | 1,877 |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 874 | 1,343 |
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 | 98,905 | 85,522 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 98,719 | 85,291 |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 186 | 231 |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 98,905 | 85,522 |
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 | 77,644 | 61,071 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | ||
Loans | 77,642 | 61,066 |
State and Political Subdivisions [Member] | Accruing Loans [Member] | ||
Loans | 2 | 5 |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | ||
Loans | 2 | 5 |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 77,642 | 61,066 |
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 and Leases - Per
Note 4 - Loans and Leases - Performing and Non-performing Loan Delinquency Status (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Loans | $ 1,088,036 | $ 981,447 |
Residential Portfolio Segment [Member] | ||
Loans | 250,480 | 234,113 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 250,480 | 234,113 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 368,423 | 366,009 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 368,423 | 366,009 |
Construction, Land Acquisition and Development [Member] | ||
Loans | 62,495 | 41,646 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Loans | 62,495 | 41,646 |
Commercial and Industrial [Member] | ||
Loans | 230,089 | 193,086 |
Consumer Portfolio Segment [Member] | ||
Loans | 98,905 | 85,522 |
State and Political Subdivisions [Member] | ||
Loans | 77,644 | 61,071 |
Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans | 1,084,252 | 977,935 |
Financial Asset, 1 to 29 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans | 1,083,761 | 976,082 |
Financial Asset, 1 to 29 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 491 | 1,853 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 249,580 | 233,054 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 47 | 67 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 366,727 | 363,394 |
Financial Asset, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 62,495 | 41,646 |
Financial Asset, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans | 229,885 | 192,584 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 164 | 497 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 97,430 | 84,333 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 65 | 117 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans | 77,644 | 61,071 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 215 | 1,172 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,351 | 1,392 |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans | 1,206 | 1,280 |
Financial Asset, 30 to 59 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 145 | 112 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 6 | 406 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 91 | 27 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 42 | 116 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans | 39 | 4 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 1,119 | 754 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 54 | 85 |
Financial Asset, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 422 | 324 |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans | 291 | 222 |
Financial Asset, 60 to 89 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 131 | 102 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 22 | 17 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 91 | 87 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 112 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans | 1 | 1 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 156 | 204 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 40 | 15 |
Financial Asset, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 2,011 | 1,796 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans | 14 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 1,997 | 1,796 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 642 | 455 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 14 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 28 | 14 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 1,327 | 1,327 |
Financial Asset, Past Due [Member] | ||
Loans | 1,088,036 | 981,447 |
Financial Asset, Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans | 1,085,272 | 977,584 |
Financial Asset, Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,764 | 3,863 |
Financial Asset, Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 249,608 | 233,477 |
Financial Asset, Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 871 | 636 |
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 366,881 | 363,510 |
Financial Asset, Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 62,495 | 41,646 |
Financial Asset, Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans | 229,925 | 192,589 |
Financial Asset, Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 164 | 497 |
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 98,719 | 85,291 |
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 187 | 231 |
Financial Asset, Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans | 77,644 | 61,071 |
Financial Asset, Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 0 | 0 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | $ 1,542 | $ 2,499 |
Note 4 - Loans and Leases - Imp
Note 4 - Loans and Leases - Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Recorded investment, with no allowance recorded | $ 2,357 | $ 3,208 |
Unpaid principal balance, with no allowance recorded | 2,675 | 5,040 |
Recorded investment, with a related allowance recorded | 6,252 | 6,765 |
Unpaid principal balance, with a related allowance recorded | 6,470 | 6,982 |
Related Allowance | 23 | 26 |
Recorded Investment | 8,609 | 9,973 |
Unpaid principal balance | 9,145 | 12,022 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 587 | 395 |
Unpaid principal balance, with no allowance recorded | 660 | 463 |
Recorded investment, with a related allowance recorded | 1,162 | 1,286 |
Unpaid principal balance, with a related allowance recorded | 1,162 | 1,285 |
Related Allowance | 12 | 9 |
Recorded Investment | 1,749 | 1,681 |
Unpaid principal balance | 1,822 | 1,748 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 1,542 | 2,499 |
Unpaid principal balance, with no allowance recorded | 1,787 | 4,230 |
Recorded investment, with a related allowance recorded | 4,907 | 5,031 |
Unpaid principal balance, with a related allowance recorded | 4,907 | 5,031 |
Related Allowance | 5 | 6 |
Recorded Investment | 6,449 | 7,530 |
Unpaid principal balance | 6,694 | 9,261 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [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 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 228 | 314 |
Unpaid principal balance, with no allowance recorded | 228 | 347 |
Recorded investment, with a related allowance recorded | 183 | 448 |
Unpaid principal balance, with a related allowance recorded | 401 | 666 |
Related Allowance | 6 | 11 |
Recorded Investment | 411 | 762 |
Unpaid principal balance | 629 | 1,013 |
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 | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Average balance | $ 8,646 | $ 11,272 | $ 9,277 | $ 11,287 | |
Interest income | [1] | 79 | 76 | 152 | 154 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 1,757 | 2,094 | 1,740 | 2,092 | |
Interest income | [1] | 15 | 17 | 30 | 35 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 6,472 | 8,183 | 6,961 | 8,233 | |
Interest income | [1] | 58 | 56 | 112 | 113 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Average balance | 0 | 66 | 0 | 67 | |
Interest income | [1] | 0 | 1 | 0 | 2 |
Commercial and Industrial [Member] | |||||
Average balance | 417 | 929 | 576 | 895 | |
Interest income | [1] | 6 | 2 | 10 | 4 |
Consumer Portfolio Segment [Member] | |||||
Average balance | 0 | 0 | 0 | 0 | |
Interest income | [1] | 0 | 0 | 0 | 0 |
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 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Deposits, Total | $ 1,426,944 | $ 1,455,028 |
Interest-Bearing Deposit Liabilities, Total | 1,109,219 | 1,134,939 |
Noninterest-Bearing Deposit Liabilities, Total | $ 317,725 | $ 320,089 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Demand (non-interest-bearing) | $ 317,725 | $ 320,089 |
Interest-bearing demand | 796,458 | 857,849 |
Savings | 145,168 | 134,224 |
Time ($250,000 and over) | 25,630 | 26,531 |
Other time | 141,963 | 116,335 |
Total interest-bearing | 1,109,219 | 1,134,939 |
Total deposits | $ 1,426,944 | $ 1,455,028 |
Note 6 - Borrowings (Details Te
Note 6 - Borrowings (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Advance from Federal Home Loan Bank, Total | $ 118,050 | $ 20,000 |
Federal Reserve Bank Advances [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 20,200 | |
Borrower-in-custody Program [Member] | Federal Reserve Bank Advances [Member] | ||
Short-Term Debt, Total | 0 | 0 |
Borrower-in-custody Program [Member] | Federal Reserve Bank Advances [Member] | Asset Pledged as Collateral [Member] | ||
Short-Term Debt, Total | 26,600 | |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 478,700 | 478,300 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 392,100 | |
Federal Home Loan Bank of Pittsburgh [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Advance from Federal Home Loan Bank, Total | $ 118,000 | |
Federal Home Loan Bank of Pittsburgh [Member] | FHLB of Pittsburgh Advances - Term [Member] | ||
Advance from Federal Home Loan Bank, Total | $ 20,000 |
Note 6 - Borrowings - Component
Note 6 - Borrowings - Components of Borrowed Funds (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Long-term borrowed funds, ending balance | $ 128,360 | $ 30,310 |
Total borrowed funds | 128,360 | 30,310 |
Junior Subordinated Debt [Member] | ||
Long-term borrowed funds, ending balance | 10,310 | 10,310 |
Federal Home Loan Bank Advances [Member] | ||
Short-term borrowed funds, ending balance | 118,050 | 20,000 |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Short-term borrowed funds, ending balance | 118,050 | 0 |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Term [Member] | ||
Short-term borrowed funds, ending balance | $ 0 | $ 20,000 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% | |
Deferred Tax Assets, Net, Total | $ 12,600 | $ 12,600 | $ 1,800 | ||
Deferred Tax Asset, Debt Securities, Available-for-Sale, Unrealized Loss | 9,300 | 9,300 | |||
Deferred Tax Liabilities, Unrealized Holding Gain (Loss) on Available for Sale Securities | 1,600 | ||||
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 0 | $ 0 |
Note 7 - Income Taxes - Effecti
Note 7 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Provision at statutory tax rates | $ 1,467 | $ 1,336 | $ 2,574 | $ 2,767 |
Provision at statutory tax rates, percentage | 21% | 21% | 21% | 21% |
Tax-free interest income | $ (213) | $ (181) | $ (414) | $ (364) |
Tax-free interest income | (3.04%) | (2.85%) | (3.38%) | (2.76%) |
Non-deductible interest expense | $ 12 | $ 12 | $ 23 | $ 23 |
Non-deductible interest expense, percentage | 0.17% | 0.19% | 0.19% | 0.17% |
Bank-owned life insurance | $ (41) | $ (31) | $ (72) | $ (145) |
Bank-owned life insurance, percentage | (0.59%) | (0.49%) | (0.59%) | (1.10%) |
Unrealized losses (gains) on equity securities | $ 17 | $ (8) | $ 43 | $ (84) |
Unrealized losses (gains) on equity securities | 0.24% | (0.12%) | 0.35% | (0.64%) |
Other items, net | $ 5 | $ 3 | $ 10 | $ (85) |
Other items, net, percentage | 0.07% | 0.05% | 0.09% | (0.64%) |
Income tax provision | $ 1,247 | $ 1,131 | $ 2,164 | $ 2,112 |
Income tax provision, percentage | 17.85% | 17.78% | 17.66% | 16.03% |
Note 8 - Related Party Transa_3
Note 8 - Related Party Transactions (Details Textual) - Directors, Executive Officers and Their Related Parties [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Related Party Deposit Liabilities | $ 148,700 | $ 148,700 | $ 152,600 | ||
Related Party Transactions, Interest Paid on Deposits | 75 | $ 180 | |||
Related Party Transaction, Expenses from Transactions with Related Party | 24 | $ 346 | 80 | $ 708 | |
Nonperforming Financial Instruments [Member] | |||||
Due from Related Parties, Total | $ 0 | $ 0 |
Note 8 - Related Party Transa_4
Note 8 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Balance, beginning of period | $ 76,790 | $ 102,498 | $ 71,437 | $ 98,935 | |
Additions, new loans and advances | 14,044 | 41,469 | 29,406 | 49,679 | |
Repayments | (8,090) | (19,810) | (18,099) | (24,457) | |
Other | [1] | 0 | (23,657) | 0 | (23,657) |
Balance, end of period | $ 82,744 | $ 100,500 | $ 82,744 | $ 100,500 | |
[1]Other represents loans to related parties that ceased being related parties during the year |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) $ in Thousands | Jun. 30, 2022 USD ($) |
Other Assets [Member] | |
Operating Lease, Right-of-Use Asset | $ 2,800 |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 3,091 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Maturity of Remaining Operating Lease Liabilities (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
2022 | $ 181 |
2023 | 368 |
2024 | 323 |
2025 | 328 |
2026 | 329 |
2027 and thereafter | 2,271 |
Total lease payments | 3,800 |
Less: imputed interest | 709 |
Other Liabilities [Member] | |
Present value of operating lease liabilities | $ 3,091 |
Note 9 - Commitments and Cont_5
Note 9 - Commitments and Contingencies - Other Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Weighted-average remaining lease term (in years) (Year) | 11 years 10 months 20 days | 12 years 10 months 24 days |
Weighted-average discount rate | 3.27% | 3.31% |
Operating cash flows from operating leases | $ 217 | $ 215 |
Note 10 - Stock Compensation _3
Note 10 - Stock Compensation Plans (Details Textual) - Long-Term Incentive Compensation Plan [Member] - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | ||
Jul. 01, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
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) | 71,860 | 66,065 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 610,456 | ||
Share-Based Payment Arrangement, Expense | $ 222 | $ 178 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,400 | $ 1,200 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 10 months 20 days | ||
Share-Based Payment Arrangement, Nonemployee [Member] | Each of Bank's Nine Non-employee Directors [Member] | Subsequent Event [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,869 | ||
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) | $ 8.03 | ||
Share-Based Payment Arrangement, Nonemployee [Member] | Banks Nine Non Employee Directors [Member] | Subsequent Event [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 16,821 | ||
Share-Based Payment Arrangement, Nonemployee [Member] | Director [Member] | Subsequent Event [Member] | |||
Share-Based Payment Arrangement, Expense | $ 135 |
Note 10 - Stock Compensation _4
Note 10 - Stock Compensation Plans - Stock Compensation Plans (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total outstanding, beginning of period (in shares) | 244,775 | 225,978 | 174,297 | 159,913 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 8.03 | $ 7.34 | $ 7.37 | $ 7.07 |
Awards granted (in shares) | 0 | 0 | 71,860 | 66,065 |
Awards granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 9.64 | $ 7.98 |
Forfeitures (in shares) | (1,727) | (7,443) | (3,109) | (7,443) |
Forfeitures, weighted average grant date fair value (in dollars per share) | $ 8.70 | $ 7.38 | $ 8.05 | $ 7.38 |
Shares vested (in shares) | (54,689) | (44,238) | (54,689) | (44,238) |
Shares vested, weighted average grant date fair value (in dollars per share) | $ 7.38 | $ 7.20 | $ 7.38 | $ 7.20 |
Total outstanding, end of period (in shares) | 188,359 | 174,297 | 188,359 | 174,297 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 8.22 | $ 7.37 | $ 8.22 | $ 7.37 |
Note 11 - Regulatory Matters__3
Note 11 - Regulatory Matters/Subsequent Events (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | |||||
Jul. 27, 2022 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jan. 26, 2022 | |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.075 | $ 0.060 | $ 0.150 | $ 0.120 | |||
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares) | 1,059 | 3,038 | 2,369 | 6,245 | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 750,000 | ||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 371,376 | ||||||
Stock Repurchased and Retired During Period, Weighted Average Cost Per Share (in dollars per share) | $ 9.51 | ||||||
Subsequent Event [Member] | |||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.090 | ||||||
Dividends Payable, Date to be Paid | Sep. 15, 2022 | ||||||
Dividends Payable, Date of Record | Sep. 01, 2022 |
Note 11 - Regulatory Matters__4
Note 11 - Regulatory Matters/Subsequent Events - Risk-based Capital and Related Ratios (Details) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Total capital (to risk-weighted assets), Amount | $ 173,466 | $ 161,957 |
Total capital (to risk-weighted assets), Ratio | 0.1390 | 0.1464 |
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 | $ 159,380 | $ 148,958 |
Tier I capital (to risk-weighted assets), Ratio | 0.1277 | 0.1346 |
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 | $ 159,380 | $ 148,958 |
Tier I common equity (to risk-weighted assets), Ratio | 0.1277 | 0.1346 |
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 | $ 159,380 | $ 148,958 |
Tier I capital (to average assets), Ratio | 0.0932 | 0.0892 |
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 | $ 1,248,030 | $ 1,106,636 |
Total average assets, Amount | $ 1,709,602 | $ 1,669,932 |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements (Details Textual) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 | Dec. 31, 2021 USD ($) | |
Debt Securities, Available-for-Sale, Amortized Cost, Total | $ 540,090 | $ 514,801 | |
Debt Securities, Available-for-Sale, Total | $ 495,604 | 522,566 | |
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Number of Securities | 28 | ||
Debt Securities, Available-for-Sale, Amortized Cost, Total | $ 32,919 | 31,300 | |
Debt Securities, Available-for-Sale, Total | $ 31,153 | $ 32,063 | |
Debt Securities, Available-for-sale, Level 3 to Level 2 Transfers | 1 | 4 | |
Inactive Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Number of Securities | 6 | ||
Debt Securities, Available-for-Sale, Amortized Cost, Total | $ 9,000 | ||
Debt Securities, Available-for-Sale, Total | $ 8,000 |
Note 12 - Fair Value Measurem_4
Note 12 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Available-for-sale debt securities | $ 495,604 | $ 522,566 |
Equity securities, at fair value | 5,307 | 4,922 |
US Treasury Securities [Member] | ||
Available-for-sale debt securities | 34,032 | 36,355 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities | 235,868 | 244,372 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale debt securities | 21,251 | 25,506 |
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities | 67,096 | 67,165 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities | 31,153 | 32,063 |
Asset-Backed Securities [Member] | ||
Available-for-sale debt securities | 12,329 | 11,932 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities | 677 | 736 |
Fair Value, Recurring [Member] | ||
Available-for-sale debt securities | 495,604 | 522,566 |
Equity securities, at fair value | 5,307 | 4,922 |
Derivative assets | 1,540 | 363 |
Total financial assets | 502,451 | 527,851 |
Derivative liabilities | 571 | 99 |
Total financial liabilities | 571 | 99 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Equity securities, at fair value | 5,307 | 4,922 |
Derivative assets | 0 | 0 |
Total financial assets | 5,307 | 4,922 |
Derivative liabilities | 0 | 0 |
Total financial liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 487,574 | 510,221 |
Equity securities, at fair value | 0 | 0 |
Derivative assets | 1,540 | 363 |
Total financial assets | 489,114 | 510,584 |
Derivative liabilities | 571 | 99 |
Total financial liabilities | 571 | 99 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 8,030 | 12,345 |
Equity securities, at fair value | 0 | 0 |
Derivative assets | 0 | |
Total financial assets | 8,030 | 12,345 |
Derivative liabilities | 0 | 0 |
Total financial liabilities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available-for-sale debt securities | 34,032 | 36,355 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 34,032 | 36,355 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities | 235,868 | 244,372 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 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 | 235,868 | 244,372 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | ||
Available-for-sale debt securities | 89,739 | 100,710 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 89,739 | 100,710 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | ||
Available-for-sale debt securities | 3,459 | 3,727 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 3,459 | 3,727 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale debt securities | 21,251 | 25,506 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 21,251 | 25,506 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities | 67,096 | 67,165 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 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 | 67,096 | 67,165 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale debt securities | 31,153 | 32,063 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 23,123 | 19,718 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 8,030 | 12,345 |
Fair Value, Recurring [Member] | Asset-Backed Securities [Member] | ||
Available-for-sale debt securities | 12,329 | 11,932 |
Fair Value, Recurring [Member] | Asset-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Asset-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 12,329 | 11,932 |
Fair Value, Recurring [Member] | Asset-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities | 677 | 736 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities | 0 | 0 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities | 677 | 736 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities | $ 0 | $ 0 |
Note 12 - Fair Value Measurem_5
Note 12 - Fair Value Measurements - Changes in Fair Value Assets (Details) - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Balance | $ 11,265 | $ 14,334 | $ 12,345 | $ 16,424 |
Additions | 0 | 2,250 | 0 | 4,000 |
Redemptions | (2,066) | 0 | (2,066) | 0 |
Transfer to Level 2 | 0 | 0 | (756) | (3,947) |
Sales | 0 | 0 | 0 | 0 |
Included in earnings | 0 | 0 | 0 | 0 |
Included in other comprehensive (loss) income | (1,169) | 25 | (1,493) | 132 |
Balance | $ 8,030 | $ 16,609 | $ 8,030 | $ 16,609 |
Note 12 - Fair Value Measurem_6
Note 12 - Fair Value Measurements - Assets Measured At Fair Value on a Non-recurring Basis and Quantitative Information (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Recorded Investment | $ 8,609 | $ 9,973 |
Related Allowance | 23 | 26 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | ||
Other real estate owned, recorded investment | 228 | 920 |
Other real estate owned, allowance | 0 | 0 |
Other real estate owned, fair value | 228 | 920 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded Investment | 2,116 | 3,208 |
Related Allowance | 0 | 0 |
Fair Value | $ 2,116 | $ 3,208 |
Selling Cost | 10% | 10% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | ||
Selling Cost | 1% | 1% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | ||
Recorded Investment | $ 6,493 | $ 6,765 |
Related Allowance | 23 | 26 |
Fair Value | $ 6,470 | $ 6,739 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Minimum [Member] | ||
Discount Rate | 3% | 3% |
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 12 - Fair Value Measurem_7
Note 12 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Available-for-sale debt securities | $ 495,604 | $ 522,566 |
Equity securities, at fair value | 5,307 | 4,922 |
Reported Value Measurement [Member] | ||
Available-for-sale debt securities | 495,604 | 522,566 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 27,392 | 99,020 |
Equity securities, at fair value | 5,307 | 4,922 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 5,787 | 1,911 |
Loans held for sale | 667 | 0 |
Loans and leases, net | 1,075,367 | 967,023 |
Accrued interest receivable | 5,103 | 4,643 |
Derivative assets | 1,512 | 371 |
Deposits | 1,426,944 | 1,455,028 |
Borrowed funds | 128,360 | 30,310 |
Accrued interest payable | 85 | 49 |
Derivative liabilities | 571 | 96 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Servicing rights | 241 | 268 |
Estimate of Fair Value Measurement [Member] | ||
Available-for-sale debt securities | 495,604 | 522,566 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 27,392 | 99,020 |
Equity securities, at fair value | 5,307 | 4,922 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 5,787 | 1,911 |
Loans held for sale | 667 | 0 |
Loans and leases, net | 1,068,295 | 967,087 |
Accrued interest receivable | 5,103 | 4,643 |
Derivative assets | 1,540 | 363 |
Deposits | 1,424,479 | 1,454,812 |
Borrowed funds | 128,273 | 30,310 |
Accrued interest payable | 85 | 49 |
Derivative liabilities | 571 | 99 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Servicing rights | $ 578 | $ 526 |
Note 13 - Earnings Per Share -
Note 13 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 5,738 | $ 5,229 | $ 10,091 | $ 11,062 |
Basic weighted-average number of common shares outstanding (in shares) | 19,677,109 | 20,222,216 | 19,805,485 | 20,232,183 |
Plus: Common share equivalents (in shares) | 17,016 | 10,478 | 26,920 | 10,911 |
Diluted weighted-average number of common shares outstanding (in shares) | 19,694,125 | 20,232,694 | 19,832,405 | 20,243,094 |
Basic (in dollars per share) | $ 0.29 | $ 0.26 | $ 0.51 | $ 0.55 |
Diluted (in dollars per share) | $ 0.29 | $ 0.26 | $ 0.51 | $ 0.55 |
Note 14 - Other Comprehensive_3
Note 14 - Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Reclassification adjustment for losses (gains) included in net income | $ 35 | $ 0 | $ 35 | $ (213) |
Income tax expense | 1,247 | 1,131 | 2,164 | 2,112 |
Net of tax amount | (28) | 0 | (28) | 168 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification adjustment for losses (gains) included in net income | 35 | 0 | 35 | (213) |
Income tax expense | (7) | 0 | (7) | 45 |
Net of tax amount | $ 28 | $ 0 | $ 28 | $ (168) |
Note 14 - Other Comprehensive_4
Note 14 - Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Balances | $ 138,389 | $ 154,930 | $ 162,457 | $ 155,860 |
Total other comprehensive (loss) income | (16,709) | 2,898 | (40,752) | (2,689) |
Balances | 125,512 | 160,614 | 125,512 | 160,614 |
AOCI Attributable to Parent [Member] | ||||
Balances | (17,691) | 8,299 | 6,352 | 13,886 |
Other comprehensive (loss) income before reclassifications | (16,737) | 2,898 | (40,780) | (2,521) |
Amount reclassified from accumulated other comprehensive income | 28 | 0 | 28 | (168) |
Total other comprehensive (loss) income | (16,709) | 2,898 | (40,752) | (2,689) |
Balances | $ (34,400) | $ 11,197 | $ (34,400) | $ 11,197 |