Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 26, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001053584 | |
Entity Registrant Name | MACATAWA BANK CORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 000-25927 | |
Entity Incorporation, State or Country Code | MI | |
Entity Tax Identification Number | 38-3391345 | |
Entity Address, Address Line One | 10753 Macatawa Drive | |
Entity Address, City or Town | Holland | |
Entity Address, State or Province | MI | |
Entity Address, Postal Zip Code | 49424 | |
City Area Code | 616 | |
Local Phone Number | 820-1444 | |
Title of 12(b) Security | Common stock | |
Trading Symbol | MCBC | |
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 | 34,291,487 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and due from banks | $ 40,687 | $ 51,215 |
Federal funds sold and other short-term investments | 469,786 | 703,955 |
Cash and cash equivalents | 510,473 | 755,170 |
Debt securities available for sale, at fair value | 503,277 | 499,257 |
Debt securities held to maturity (fair value 2023 - $314,458 and 2022 - $332,650) | 330,003 | 348,765 |
Federal Home Loan Bank (FHLB) stock | 10,211 | 10,211 |
Loans held for sale, at fair value | 0 | 215 |
Total loans | 1,291,290 | 1,177,748 |
Allowance for credit losses | (17,001) | (15,285) |
Net loans | 1,274,289 | 1,162,463 |
Premises and equipment – net | 39,399 | 40,306 |
Accrued interest receivable | 9,957 | 7,606 |
Bank-owned life insurance | 54,043 | 53,345 |
Other real estate owned - net | 0 | 2,343 |
Net deferred tax asset | 10,226 | 9,712 |
Other assets | 17,832 | 17,526 |
Total assets | 2,759,710 | 2,906,919 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Noninterest-bearing | 653,052 | 834,879 |
Interest-bearing | 1,792,534 | 1,780,263 |
Total deposits | 2,445,586 | 2,615,142 |
Other borrowed funds | 30,000 | 30,000 |
Accrued expenses and other liabilities | 14,247 | 14,739 |
Total liabilities | 2,489,833 | 2,659,881 |
Commitments and contingent liabilities | ||
Shareholders' equity | ||
Common stock, no par value, 200,000,000 shares authorized; 34,291,487 and 34,298,640 shares issued and outstanding at September 30, 2023 and December 31, 2022 | 220,089 | 219,578 |
Retained earnings | 83,349 | 59,036 |
Accumulated other comprehensive loss | (33,561) | (31,576) |
Total shareholders' equity | 269,877 | 247,038 |
Total liabilities and shareholders' equity | $ 2,759,710 | $ 2,906,919 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt securities, held to maturity, fair value | $ 314,458 | $ 332,650 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 34,291,487 | 34,298,640 |
Common stock, outstanding (in shares) | 34,291,487 | 34,298,640 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Interest income | |||||
Loans, including fees | $ 18,065 | $ 12,164 | $ 50,900 | $ 32,905 | |
Securities | |||||
Taxable | 4,565 | 3,323 | 13,643 | 7,375 | |
Tax-exempt | 671 | 668 | 2,048 | 2,102 | |
FHLB Stock | 80 | 53 | 217 | 155 | |
Federal funds sold and other short-term investments | 6,406 | 4,667 | 17,366 | 6,915 | |
Total interest income | 29,787 | 20,875 | 84,174 | 49,452 | |
Interest expense | |||||
Deposits | 7,383 | 944 | 17,693 | 1,346 | |
Other borrowings | 160 | 160 | 474 | 827 | |
Total interest expense | 7,543 | 1,104 | 18,167 | 2,173 | |
Net interest income | 22,244 | 19,771 | 66,007 | 47,279 | |
Provision for credit losses (1) | [1] | (150) | 0 | 150 | (1,500) |
Net interest income after provision for credit losses | 22,394 | 19,771 | 65,857 | 48,779 | |
Noninterest income | |||||
Net gains on mortgage loans | 5 | 166 | 37 | 673 | |
Bank owned life insurance ("BOLI") income | 239 | 217 | 660 | 687 | |
Other | 527 | 550 | 1,633 | 1,695 | |
Total noninterest income | 4,616 | 4,889 | 13,756 | 14,985 | |
Noninterest expense | |||||
Salaries and benefits | 6,949 | 6,639 | 20,490 | 19,331 | |
Occupancy of premises | 1,024 | 989 | 3,260 | 3,232 | |
Furniture and equipment | 1,050 | 1,014 | 3,145 | 3,017 | |
Legal and professional | 355 | 268 | 973 | 733 | |
Marketing and promotion | 225 | 196 | 648 | 586 | |
Data processing | 1,002 | 984 | 2,963 | 2,792 | |
FDIC assessment | 330 | 201 | 990 | 578 | |
Interchange and other card expense | 426 | 405 | 1,212 | 1,184 | |
Bond and D&O Insurance | 123 | 129 | 366 | 389 | |
Other | 1,305 | 1,302 | 3,580 | 3,936 | |
Total noninterest expenses | 12,789 | 12,127 | 37,627 | 35,778 | |
Income before income tax | 14,221 | 12,533 | 41,986 | 27,986 | |
Income tax expense | 2,808 | 2,488 | 8,257 | 5,372 | |
Net income | $ 11,413 | $ 10,045 | $ 33,729 | $ 22,614 | |
Basic earnings per common share (in dollars per share) | $ 0.33 | $ 0.29 | $ 0.98 | $ 0.66 | |
Diluted earnings per common share (in dollars per share) | 0.33 | 0.29 | 0.98 | 0.66 | |
Cash dividends per common share (in dollars per share) | $ 0.08 | $ 0.08 | $ 0.24 | $ 0.24 | |
Service [Member] | |||||
Noninterest income | |||||
Noninterest revenue | $ 1,061 | $ 1,263 | $ 3,072 | $ 3,693 | |
Trust Fees [Member] | |||||
Noninterest income | |||||
Noninterest revenue | 1,109 | 969 | 3,277 | 3,153 | |
ATM and Debit Card Fees [Member] | |||||
Noninterest income | |||||
Noninterest revenue | $ 1,675 | $ 1,724 | $ 5,077 | $ 5,084 | |
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income | $ 11,413 | $ 10,045 | $ 33,729 | $ 22,614 |
Unrealized gains (losses): | ||||
Net change in unrealized gains (losses) on debt securities available for sale | (3,540) | (17,714) | (2,496) | (41,085) |
Net unrealized gain at time of transfer on securities transferred to held-to-maturity | 0 | 0 | 0 | 113 |
Amortization of net unrealized gains on securities transferred to held-to-maturity | (5) | (5) | (16) | (16) |
Tax effect | 744 | 3,721 | 527 | 8,608 |
Net change in unrealized gains (losses) on debt securities available for sale, net of tax | (2,801) | (13,998) | (1,985) | (32,380) |
Less: reclassification adjustments: | ||||
Reclassification for gains included in net income | 0 | 0 | 0 | 0 |
Tax effect | 0 | 0 | 0 | 0 |
Reclassification for gains included in net income, net of tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | (2,801) | (13,998) | (1,985) | (32,380) |
Comprehensive income (loss) | $ 8,612 | $ (3,953) | $ 31,744 | $ (9,766) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2021 | $ 219,082 | $ 35,220 | $ (297) | $ 254,005 | ||||
Net income | 0 | 22,614 | 0 | 22,614 | ||||
Cash dividends | 0 | (8,186) | 0 | (8,186) | ||||
Repurchase of shares for taxes withheld on vested restricted stock | (35) | 0 | 0 | (35) | ||||
Other comprehensive loss, net of tax | 0 | 0 | (32,380) | (32,380) | ||||
Stock compensation expense | 536 | 0 | 0 | 536 | ||||
Balance at Sep. 30, 2022 | 219,583 | 49,648 | (32,677) | 236,554 | ||||
Balance at Jun. 30, 2022 | 219,456 | 42,332 | (18,679) | 243,109 | ||||
Net income | 0 | 10,045 | 0 | 10,045 | ||||
Cash dividends | 0 | (2,729) | 0 | (2,729) | ||||
Repurchase of shares for taxes withheld on vested restricted stock | (15) | 0 | 0 | (15) | ||||
Other comprehensive loss, net of tax | 0 | 0 | (13,998) | (13,998) | ||||
Stock compensation expense | 142 | 0 | 0 | 142 | ||||
Balance at Sep. 30, 2022 | 219,583 | 49,648 | (32,677) | 236,554 | ||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ (1,215) | $ 0 | $ (1,215) | ||||
Balance at Dec. 31, 2022 | 219,578 | 59,036 | (31,576) | 247,038 | ||||
Net income | 0 | 33,729 | 0 | 33,729 | ||||
Cash dividends | 0 | (8,201) | 0 | (8,201) | ||||
Repurchase of shares for taxes withheld on vested restricted stock | (22) | 0 | 0 | (22) | ||||
Other comprehensive loss, net of tax | 0 | 0 | (1,985) | (1,985) | ||||
Stock compensation expense | 533 | 0 | 0 | 533 | ||||
Balance at Sep. 30, 2023 | 220,089 | 83,349 | (33,561) | 269,877 | ||||
Balance at Jun. 30, 2023 | 219,909 | 74,670 | (30,760) | 263,819 | ||||
Net income | 0 | 11,413 | 0 | 11,413 | ||||
Cash dividends | 0 | (2,734) | 0 | (2,734) | ||||
Repurchase of shares for taxes withheld on vested restricted stock | 0 | 0 | 0 | 0 | ||||
Other comprehensive loss, net of tax | 0 | 0 | (2,801) | (2,801) | ||||
Stock compensation expense | 180 | 0 | 0 | 180 | ||||
Balance at Sep. 30, 2023 | $ 220,089 | $ 83,349 | $ (33,561) | $ 269,877 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Cash dividends per common share (in dollars per share) | $ 0.08 | $ 0.24 | $ 0.24 |
Shares repurchased (in shares) | 1,662 | 2,145 | 3,815 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | ||
Cash flows from operating activities | |||
Net income | $ 33,729 | $ 22,614 | |
Adjustments to reconcile net income to net cash from operating activities: | |||
Depreciation and amortization | 266 | 1,493 | |
Stock compensation expense | 533 | 536 | |
Provision for credit losses (1) | [1] | 150 | (1,500) |
Origination of loans for sale | (2,904) | (25,009) | |
Proceeds from sales of loans originated for sale | 3,156 | 26,855 | |
Net gains on mortgage loans | (37) | (673) | |
Net gain on sales of other real estate | (356) | (47) | |
Deferred income tax expense | 336 | 585 | |
Earnings in bank-owned life insurance | (660) | (687) | |
Change in accrued interest receivable and other assets | (2,657) | (5,536) | |
Change in accrued expenses and other liabilities | (554) | 1,499 | |
Net cash from operating activities | 31,002 | 20,130 | |
Cash flows from investing activities | |||
Loan originations and payments, net | (113,452) | (29,220) | |
Purchases of securities available for sale | (24,072) | (232,108) | |
Purchases of securities held to maturity | (9,613) | (160,481) | |
Maturities and calls of securities available for sale | 8,160 | 17,486 | |
Maturities and calls of securities held to maturity | 23,300 | 37,998 | |
Principal paydowns on securities available for sale | 10,740 | 12,003 | |
Principal paydowns on securities held to maturity | 5,016 | 33,149 | |
Sales of other real estate | 2,699 | 47 | |
Redemption of FHLB stock | 0 | 1,347 | |
Additions to premises and equipment | (698) | (605) | |
Net cash for investing activities | (97,920) | (320,384) | |
Cash flows from financing activities | |||
Change in deposits | (169,556) | (21,761) | |
Repayments and maturities of other borrowed funds | 0 | (80,000) | |
Proceeds from other borrowed funds | 0 | 25,000 | |
Repurchase of shares for taxes withheld on vested restricted stock | (22) | (35) | |
Cash dividends paid | (8,201) | (8,186) | |
Net cash for financing activities | (177,779) | (84,982) | |
Net change in cash and cash equivalents | (244,697) | (385,236) | |
Cash and cash equivalents at beginning of period | 755,170 | 1,151,788 | |
Cash and cash equivalents at end of period | 510,473 | 766,552 | |
Supplemental cash flow information | |||
Interest paid | 17,499 | 2,204 | |
Income taxes paid | 7,400 | 5,000 | |
Supplemental noncash disclosures: | |||
Security settlement | 0 | 1,000 | |
Transfer of securities from available for sale to held to maturity | $ 0 | $ 123,469 | |
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Macatawa Bank is a Michigan chartered bank with depository accounts insured by the Federal Deposit Insurance Corporation ("FDIC"). The Bank operates 26 full service branch offices providing a full range of commercial and consumer banking and trust services in Kent County, Ottawa County, and northern Allegan County, Michigan. Basis of Presentation 10 10 X. not Operating results for the three nine September 30, 2023 not may December 31, 2023. 10 December 31, 2022 Use of Estimates FASB issued ASU No. 2016 13, Financial Instruments Credit Losses (Topic 326 no may 2022 02, Financial Instruments - Credit Losses (Topic 326 The Company adopted these standards as required on January 1, 2023 January 1, 2023 Allowance for Credit Losses ("ACL") - Loans may The allowance is measured on a collective pool basis when similar risk characteristics exist. Loans with similar risk characteristics are grouped into homogeneous classes, or pools, for allowance calculation. Commercial loans are divided into eight classes based primarily on property type and risk characteristics. They are further segmented based on commercial loan risk grade. Retail loans are segmented into categories including residential mortgage, home equity, unsecured and other secured and then further segmented based on delinquency status. The Company's loan portfolio classes as of September 30, 2023 Commercial Loans: Commercial and Industrial Residential developed Unsecured to residential developers Vacant and unimproved Commercial development Residential improved Commercial improved Manufacturing and industrial Consumer Loans: Residential mortgage Unsecured Home equity Other secured The remaining life methodology is used for all loan pools. This nondiscounted cash flow approach projects an estimated future amortized cost basis based on current loan balance and repayment terms. Given the bank's limited loss history over the past twelve Reasonable and supportable economic forecasts have to be incorporated in determining expected losses. The forecast period represents the time frame from the current period end through the point in time that the Company can reasonably forecast. Ideally, the economic forecast period would cover the contractual terms of all loans; however, the ability to produce a forecast that is both reasonable and supportable becomes more difficult the longer the period is projected. For periods beyond the forecast period, the loss rate reverts back to the baseline lifetime loss. As of September 30, 2023 one nine third twenty five September 2023 December 2006 June 2007). September 30, 2023 not one June 30, 2023 A number of qualitative factors are considered including economic forecast uncertainty, credit quality trends, valuation trends, concentration risk, quality of loan review, changes in personnel, impact of rising interest rates, external factors and other considerations. During each reporting period, management also considers the need to adjust the baseline lifetime loss rates for factors that may The Company is also required to consider expected credit losses associated with loan commitments over the contractual period in which it is exposed to credit risk on the underlying commitments. Any allowance for off-balance sheet credit exposures is reported as an other liability on the Company's Consolidated Balance Sheet and is increased or decreased via other noninterest expense on the Company's Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same methodology, inputs and assumptions as the funded portion of loans at the segment level applied to the amount of commitments expected to be funded. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the respective term of the loan using the level-yield method without anticipating prepayments. Accrued interest on loans totaled $4.8 million at September 30, 2023 December 31, 2022 Accrued interest receivable for loans is included as a separate line item on the Company's Consolidated Balance Sheet. The Company elected not Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 no 120 90 All interest accrued but not Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level yield method without anticipating prepayments. Gains and losses on sales are based on the amortized cost of the security sold. Accrued interest receivable on securities totaled $4.4 million at September 30, 2023 December 31, 2022 ACL - Securities Available for Sale not not 326 30 not September 30, 2023 ACL - Securities Held to Maturity no 1 2 3 4 September 30, 2023 no Income Taxes The Company recognizes a tax position as a benefit only if it is "more likely than not" 50% not not" no Revenue From Contracts With Customers 606, Revenue from Contracts with Customers 606" 606, No The Company's primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not The Company generally satisfies its performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 Interest Income: The Company’s largest source of revenue is interest income which is primarily recognized on an accrual basis based on contractual terms written into loans and investment contracts. Noninterest Revenue: The Company derives the majority of its noninterest revenue from: ( 1 2 3 4 Derivatives two no September 30, 2023 December 31, 2022 Mortgage Banking Derivatives not not Changes in the fair values of these interest rate lock and mortgage backed security and forward commitment derivatives are included in net gains on mortgage loans. The fair value of interest rate lock commitments was $(2,000) at September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Loans Held for Sale September 30, 2023 December 31, 2022 no Newly Issued Not 2023 01, Investments - Equity Method and Joint Ventures (Topic 323 December 15, 2023, no not FASB issued ASU 2023 01, Leases (Topic 842 December 15, 2023, not not |
Note 2 - Securities
Note 2 - Securities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 SECURITIES The amortized cost and fair value of securities at period-end were as follows (dollars in thousands): Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2023 Available for Sale U.S. Treasury and federal agency securities $ 255,887 $ — $ (15,774 ) $ 240,113 U.S. Agency MBS and CMOs 127,040 — (17,078 ) 109,962 Tax-exempt state and municipal bonds 34,614 — (1,365 ) 33,249 Taxable state and municipal bonds 116,132 4 (7,927 ) 108,209 Corporate bonds and other debt securities 12,161 — (417 ) 11,744 $ 545,834 $ 4 $ (42,561 ) $ 503,277 Held to Maturity U.S. Treasury $ 251,248 $ — $ (12,277 ) $ 238,971 Tax-exempt state and municipal bonds 78,755 55 (3,323 ) 75,487 $ 330,003 $ 55 $ (15,600 ) $ 314,458 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2022 Available for Sale: U.S. Treasury and federal agency securities $ 240,921 $ 23 $ (16,310 ) $ 224,634 U.S. Agency MBS and CMOs 128,165 — (14,347 ) 113,818 Tax-exempt state and municipal bonds 37,198 10 (498 ) 36,710 Taxable state and municipal bonds 120,647 49 (8,525 ) 112,171 Corporate bonds and other debt securities 12,387 — (463 ) 11,924 $ 539,318 $ 82 $ (40,143 ) $ 499,257 Held to Maturity U.S. Treasury $ 251,307 $ — $ (13,677 ) $ 237,630 Tax-exempt state and municipal bonds 97,458 415 (2,853 ) 95,020 $ 348,765 $ 415 $ (16,530 ) $ 332,650 There were no sales of securities in the three nine September 30, 2023 2022 On January 1, 2022, ten Contractual maturities of debt securities at September 30, 2023 Held–to-Maturity Securities Available-for-Sale Securities Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ 133,471 $ 131,195 $ 96,702 $ 95,025 Due from one to five years 179,098 166,829 304,828 283,371 Due from five to ten years 17,434 16,434 18,656 16,224 Due after ten years — — 125,648 108,657 $ 330,003 $ 314,458 $ 545,834 $ 503,277 Securities with unrealized losses at September 30, 2023 December 31, 2022 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2023 Value Loss Value Loss Value Loss Available for Sale U.S. Treasury and federal agency securities $ 32,037 $ (293 ) $ 208,077 $ (15,481 ) $ 240,114 $ (15,774 ) U.S. Agency MBS and CMOs 27,594 (646 ) 82,369 (16,432 ) 109,963 (17,078 ) Tax-exempt state and municipal bonds 18,452 (692 ) 14,796 (673 ) 33,248 (1,365 ) Taxable state and municipal bonds 12,611 (153 ) 93,537 (7,774 ) 106,148 (7,927 ) Corporate bonds and other debt securities 460 (10 ) 11,284 (407 ) 11,744 (417 ) $ 91,154 $ (1,794 ) $ 410,063 $ (40,767 ) $ 501,217 $ (42,561 ) Held to Maturity U.S. Treasury $ — $ — $ 238,972 $ (12,277 ) $ 238,972 $ (12,277 ) Tax-exempt state and municipal bonds 14,869 (206 ) 53,122 (3,117 ) 67,991 (3,323 ) $ 14,869 $ (206 ) $ 292,094 $ (15,394 ) $ 306,963 $ (15,600 ) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2022 Value Loss Value Loss Value Loss Available for Sale: U.S. Treasury and federal agency securities $ 144,796 $ (6,230 ) $ 66,008 $ (10,080 ) $ 210,804 $ (16,310 ) U.S. Agency MBS and CMOs 64,427 (4,789 ) 41,340 (9,558 ) 105,767 (14,347 ) Tax-exempt state and municipal bonds 31,337 (498 ) — — 31,337 (498 ) Taxable state and municipal bonds 71,165 (3,337 ) 33,452 (5,188 ) 104,617 (8,525 ) Corporate bonds and other debt securities 10,668 (357 ) 1,256 (106 ) 11,924 (463 ) $ 322,393 $ (15,211 ) $ 142,056 $ (24,932 ) $ 464,449 $ (40,143 ) Held to Maturity: U.S. Treasury $ 237,630 $ (13,677 ) $ — $ — $ 237,630 $ (13,677 ) Tax-exempt state and municipal bonds 57,671 (2,314 ) 21,721 (539 ) 79,392 (2,853 ) $ 295,301 $ (15,991 ) $ 21,721 $ (539 ) $ 317,022 $ (16,530 ) Management evaluates securities in an unrealized loss position at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. In analyzing an issuer's financial condition, Management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer's financial condition. At September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 not September 30, 2023 Securities with a carrying value of approximately $3.6 million and $3.5 million were pledged as security for public deposits, letters of credit and for other purposes required or permitted by law at September 30, 2023 December 31, 2022 |
Note 3 - Loans
Note 3 - Loans | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 LOANS Portfolio loans were as follows (dollars in thousands): September 30, December 31, 2023 2022 Commercial and industrial $ 488,224 $ 441,716 Commercial real estate: Residential developed 5,040 7,234 Unsecured to residential developers 800 — Vacant and unimproved 37,084 36,270 Commercial development 89 103 Residential improved 116,407 112,791 Commercial improved 257,673 259,281 Manufacturing and industrial 150,192 121,924 Total commercial real estate 567,285 537,603 Consumer: Residential mortgage 180,420 139,148 Unsecured 113 121 Home equity 51,798 56,321 Other secured 3,450 2,839 Total consumer 235,781 198,429 Total loans 1,291,290 1,177,748 Allowance for credit losses (17,001 ) (15,285 ) $ 1,274,289 $ 1,162,463 The totals above are shown net of deferred fees and costs. Deferred fees on loans totaled $1.4 million and $1.3 million at September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Activity in the allowance for credit losses by portfolio segment was as follows (dollars in thousands): Commercial and Commercial Three months ended September 30, 2023 Industrial Real Estate Consumer Unallocated Total Beginning balance $ 7,011 $ 6,928 $ 3,099 $ 71 $ 17,109 Charge-offs — — (41 ) — (41 ) Recoveries 8 50 25 — 83 Provision for credit losses (1) (398 ) 114 177 (43 ) (150 ) Ending Balance $ 6,621 $ 7,092 $ 3,260 $ 28 $ 17,001 Commercial and Commercial Nine months ended September 30, 2023 Industrial Real Estate Consumer Unallocated Total Beginning balance, prior to adoption of ASU 2016-03 $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Impact of adoption of ASU 2016-03 1,299 (212 ) 389 — 1,476 Charge-offs — — (84 ) — (84 ) Recoveries 24 56 94 — 174 Provision for credit losses (1) (298 ) 68 403 (23 ) 150 Ending Balance $ 6,621 $ 7,092 $ 3,260 $ 28 $ 17,001 Commercial and Commercial Three months ended September 30, 2022 Industrial Real Estate Consumer Unallocated Total Beginning balance $ 5,256 $ 7,022 $ 2,316 $ 37 $ 14,631 Charge-offs — — (46 ) — (46 ) Recoveries 175 5 56 — 236 Provision for credit losses (1) 179 (147 ) (14 ) (18 ) — Ending Balance $ 5,610 $ 6,880 $ 2,312 $ 19 $ 14,821 Commercial and Commercial Nine months ended September 30, 2022 Industrial Real Estate Consumer Unallocated Total Beginning balance $ 5,176 $ 8,051 $ 2,633 $ 29 $ 15,889 Charge-offs (38 ) — (103 ) — (141 ) Recoveries 185 276 112 — 573 Provision for credit losses (1) 287 (1,447 ) (330 ) (10 ) (1,500 ) Ending Balance $ 5,610 $ 6,880 $ 2,312 $ 19 $ 14,821 ( 1 Beginning January 1, 2023, January 1, 2023, The following table presents gross chargeoffs for the nine September 30, 2023 Term Loans By Origination Year Revolving September 30, 2023 2023 2022 2021 2020 2019 Prior Loans Total Commercial and industrial $ — $ — $ — $ — $ — $ — $ — $ — Commercial development — — — — — — — — Commercial improved — — — — — — — — Manufacturing and industrial — — — — — — — — Residential development — — — — — — — — Residential improved — — — — — — — — Vacant and unimproved — — — — — — — — Total commercial — — — — — — — — Residential mortgage — — — — — — — — Consumer unsecured — — — — — — — — Home equity — — — — — — — — Other — — — — — — 84 84 Total consumer — — — — — — 84 84 Total loans — — — — — — 84 84 Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. Under CECL for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance on the fair value of collateral. The allowance is calculated on an individual loan basis based on the shortfall between the fair value of the loan's collateral, which is adjusted for liquidation costs/discounts, and the loan's amortized cost. If the fair value of the collateral exceeds the loan's amortized cost, no There have been no The amortized cost of collateral-dependent loans by class as of September 30, 2023 Collateral Type Allowance September 30, 2023 Real Estate Other Allocated Commercial and industrial $ 584 $ — $ — Commercial real estate: Residential developed — — — Unsecured to residential developers — — — Vacant and unimproved — — — Commercial development — — — Residential improved 27 — — Commercial improved 296 — — Manufacturing and industrial 546 — — 869 — — Consumer Residential mortgage — — — Unsecured — — — Home equity — — — Other secured — — — Consumer — — — Total $ 1,453 $ — $ — The following table presents the balance in the allowance for credit losses and the recorded investment in loans by portfolio segment and based on impairment method (dollars in thousands): Commercial and Commercial December 31, 2022 Industrial Real Estate Consumer Unallocated Total Allowance for credit losses: Ending allowance attributable to loans: Individually reviewed for impairment $ 55 $ 20 $ 220 $ — $ 295 Collectively evaluated for impairment 5,541 7,160 2,238 51 14,990 Total ending allowance balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Loans: Individually reviewed for impairment $ 3,603 $ 518 $ 2,886 $ — $ 7,007 Collectively evaluated for impairment 438,113 537,085 195,543 — 1,170,741 Total ending loans balance $ 441,716 $ 537,603 $ 198,429 $ — $ 1,177,748 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2022 Unpaid Year-To-Date Principal Recorded Allowance Average Recorded December 31, 2022 Balance Investment Allocated Investment With no related allowance recorded: Commercial and industrial $ 3,278 $ 3,278 $ — $ 2,338 Commercial real estate: Residential improved 31 31 — 33 31 31 — 33 Consumer — — — — Total with no related allowance recorded $ 3,309 $ 3,309 $ — $ 2,371 With an allowance recorded: Commercial and industrial $ 325 $ 325 $ 55 $ 365 Commercial real estate: Commercial improved 307 307 9 313 Manufacturing and industrial 180 180 11 185 487 487 20 498 Consumer: Residential mortgage 2,653 2,653 202 2,619 Unsecured 29 29 2 29 Home equity 204 204 16 234 2,886 2,886 220 2,882 Total with an allowance recorded $ 3,698 $ 3,698 $ 295 $ 3,745 Total $ 7,007 $ 7,007 $ 295 $ 6,116 The following tables present the recorded investment in nonaccrual and loans past due over 90 September 30, 2023 December 31, 2022 Over 90 Total Nonaccrual with Nonaccrual with days Nonperforming September 30, 2023 No Allowance Allowance Total Nonaccrual Accruing Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential Improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 1 1 — 1 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 1 1 — 1 Total $ — $ 1 $ 1 $ — $ 1 Over 90 Total Nonaccrual with Nonaccrual with days Nonperforming December 31, 2022 No Allowance Allowance Total Nonaccrual Accruing Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 78 78 — 78 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 78 78 — 78 Total $ — $ 78 $ 78 $ — $ 78 No interest income was recognized on nonaccrual loans during the three nine September 30, 2023 The following table presents the aging of the recorded investment in past due loans as of September 30, 2023 December 31, 2022 30 90 Greater Than Total Loans Not September 30, 2023 Days 90 Days Past Due Past Due Total Commercial and industrial $ — $ — $ — $ 488,224 $ 488,224 Commercial real estate: Residential developed — — — 5,040 5,040 Unsecured to residential developers — — — 800 800 Vacant and unimproved — — — 37,084 37,084 Commercial development — — — 89 89 Residential improved — — — 116,407 116,407 Commercial improved — — — 257,673 257,673 Manufacturing and industrial — — — 150,192 150,192 — — — 567,285 567,285 Consumer: Residential mortgage — — — 180,420 180,420 Unsecured — — — 113 113 Home equity — — — 51,798 51,798 Other secured — — — 3,450 3,450 — — — 235,781 235,781 Total $ — $ — $ — $ 1,291,290 $ 1,291,290 30-90 Greater Than Total Loans Not December 31, 2022 Days 90 Days Past Due Past Due Total Commercial and industrial $ — $ — $ — $ 441,716 $ 441,716 Commercial real estate: Residential developed — — — 7,234 7,234 Unsecured to residential developers — — — — — Vacant and unimproved — — — 36,270 36,270 Commercial development — — — 103 103 Residential improved — — — 112,791 112,791 Commercial improved 71 — 71 259,210 259,281 Manufacturing and industrial — — — 121,924 121,924 71 — 71 537,532 537,603 Consumer: Residential mortgage — 77 77 139,071 139,148 Unsecured — — — 121 121 Home equity 24 — 24 56,297 56,321 Other secured — — — 2,839 2,839 24 77 101 198,328 198,429 Total $ 95 $ 77 $ 172 $ 1,177,576 $ 1,177,748 At times, the Company will modify terms of a loan to allow the customer to mitigate the risk of foreclosure by meeting a lower loan payment requirement based upon their current cash flow. These may two first second second first may six As with other individually reviewed loans, an allowance for credit loss is estimated for each such modification made to borrowers experiencing financial difficulty based on the most likely source of repayment for each loan. For commercial real estate loans that are collateral dependent, the allowance is computed based on the fair value of the underlying collateral, less estimated costs to sell. For individually reviewed commercial loans where repayment is expected from cash flows from business operations, the allowance is computed based on a discounted cash flow computation. Certain groups of such loans, such as residential mortgages, have common characteristics and for them the allowance is computed based on a discounted cash flow computation on the change in weighted rate for the pool. The allowance allocations for commercial modifications to borrowers experiencing financial difficulty where we have reduced the contractual interest rate are computed by measuring cash flows using the new payment terms discounted at the original contractual rate. The following table presents information regarding modifications to borrowers experiencing financial difficulty as of September 30, 2023 September 30, 2023 Outstanding Percentage to Number of Recorded Total Loans Balance Loans Commercial and industrial 3 $ 266 0.05 % Commercial real estate 3 493 0.09 % Consumer 31 2,690 1.14 % 37 $ 3,449 0.27 % The following table presents information related to modifications to borrowers experiencing financial difficulty as of September 30, 2023 six September 30, 2023 Accruing - nonaccrual at modification $ — Accruing - accruing at modification 3,449 Accruing - upgraded to accruing after six consecutive payments — $ 3,449 There was one commercial loan modification made to a borrower experiencing financial difficulty during the three September 30, 2023. nine September 30, 2023. three September 30, 2022. nine September 30, 2022. There were no defaults on loans with modifications to borrowers experiencing financial difficulty during the three nine September 30, 2023 90 12 not Credit Quality Indicators: eight 5 8 7, first 4 zero 1. 2. 3. 4. may 5. 6. may may not 7. no one may 8. no The following table summarizes loan ratings by grade for commercial loans (dollars in thousands): Term Loans Amortized Cost Basis By Origination Year and Risk Grades September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Commercial Commercial and industrial Grades 1-3 $ 42,102 $ 56,819 $ 16,680 $ 5,488 $ 12,718 $ 41,434 $ 66,332 $ 241,573 Grade 4 55,344 40,840 22,181 14,968 7,699 24,553 72,555 238,140 Grade 5 — 415 59 284 72 1,232 5,820 7,882 Grade 6 584 — 20 — — 25 — 629 Grade 7-8 — — — — — — — — $ 98,030 $ 98,074 $ 38,940 $ 20,740 $ 20,489 $ 67,244 $ 144,707 $ 488,224 Residential development Grades 1-3 $ — $ — $ — $ — $ — $ — $ — $ — Grade 4 399 612 679 — — — 3,350 5,040 Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 399 $ 612 $ 679 $ — $ — $ — $ 3,350 $ 5,040 Unsecured to residential developers Grades 1-3 $ — $ — $ — $ — $ — $ 800 $ — $ 800 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ — $ — $ — $ — $ 800 $ — $ 800 Vacant and unimproved Grades 1-3 $ 449 $ 4,842 $ 8,144 $ 6,874 $ — $ 83 $ 150 $ 20,542 Grade 4 1,548 2,498 2,671 7,987 157 110 239 15,210 Grade 5 1,332 — — — — — — 1,332 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 3,329 $ 7,340 $ 10,815 $ 14,861 $ 157 $ 193 $ 389 $ 37,084 Commercial development Grades 1-3 $ — $ 89 $ — $ — $ — $ — $ — $ 89 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ 89 $ — $ — $ — $ — $ — $ 89 Residential improved Grades 1-3 $ 4,635 $ 12,320 $ 1,359 $ 8,797 $ 251 $ 5,225 $ 789 $ 33,376 Grade 4 974 553 33,253 1,795 7,092 15,454 23,882 83,003 Grade 5 — — 28 — — — — 28 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 5,609 $ 12,873 $ 34,640 $ 10,592 $ 7,343 $ 20,679 $ 24,671 $ 116,407 Commercial improved Grades 1-3 $ 12,533 $ 22,410 $ 51,324 $ 19,385 $ 14,513 $ 15,695 $ 8,582 $ 144,442 Grade 4 6,353 34,017 16,729 31,082 16,674 2,080 443 107,378 Grade 5 269 26 — — 2,164 3,098 — 5,557 Grade 6 — — 296 — — — — 296 Grade 7-8 — — — — — — — — $ 19,155 $ 56,453 $ 68,349 $ 50,467 $ 33,351 $ 20,873 $ 9,025 $ 257,673 Manufacturing and industrial Grades 1-3 $ 7,062 $ 35,006 $ 5,425 $ 6,672 $ 4,240 $ 3,824 $ 880 $ 63,109 Grade 4 16,712 26,539 12,692 7,603 5,641 13,138 1,665 83,990 Grade 5 170 — — — — 305 — 475 Grade 6 — — — — — 2,618 — 2,618 Grade 7-8 — — — — — — — — $ 23,944 $ 61,545 $ 18,117 $ 14,275 $ 9,881 $ 19,885 $ 2,545 $ 150,192 Total Commercial Grades 1-3 $ 66,781 $ 131,486 $ 82,932 $ 47,216 $ 31,722 $ 67,061 $ 76,733 $ 503,931 Grade 4 81,330 105,059 88,205 63,435 37,263 55,335 102,134 532,761 Grade 5 1,771 441 87 284 2,236 4,635 5,820 15,274 Grade 6 584 — 316 — — 2,643 — 3,543 Grade 7-8 — — — — — — — — $ 150,466 $ 236,986 $ 171,540 $ 110,935 $ 71,221 $ 129,674 $ 184,687 $ 1,055,509 As of December 31, 2022 December 31, 2022 1 2 3 4 5 6 7 8 Total Commercial and industrial $ 15,040 $ 21,451 $ 175,762 $ 220,987 $ 8,309 $ 167 $ — $ — $ 441,716 Commercial real estate: Residential developed — — — 7,234 — — — — 7,234 Unsecured to residential developers — — — — — — — — — Vacant and unimproved — 1,231 18,406 16,633 — — — — 36,270 Commercial development — — 103 — — — — — 103 Residential improved — — 25,585 87,176 30 — — — 112,791 Commercial improved — 17,802 83,769 151,641 5,762 307 — — 259,281 Manufacturing & industrial — 11,422 32,977 73,566 1,646 2,313 — — 121,924 $ 15,040 $ 51,906 $ 336,602 $ 557,237 $ 15,747 $ 2,787 $ — $ — $ 979,319 The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. For consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in consumer loans by year of origination and based on delinquency status at September 30, 2023 Term Loans Amortized Cost Basis By Origination Year September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Retail Residential mortgage Performing $ 57,860 $ 40,375 $ 26,324 $ 9,800 $ 4,936 $ 29,136 $ 11,989 $ 180,420 Nonperforming — — — — — — — — $ 57,860 $ 40,375 $ 26,324 $ 9,800 $ 4,936 $ 29,136 $ 11,989 $ 180,420 Consumer unsecured Performing $ — $ — $ — $ 12 $ 13 $ — $ 88 $ 113 Nonperforming — — — — — — — — $ — $ — $ — $ 12 $ 13 $ — $ 88 $ 113 Home equity Performing $ 256 $ 701 $ 223 $ 461 $ 219 $ 1,989 $ 47,949 $ 51,798 Nonperforming — — — — — — — — $ 256 $ 701 $ 223 $ 461 $ 219 $ 1,989 $ 47,949 $ 51,798 Other Performing $ 1,658 $ 745 $ 607 $ 251 $ 50 $ 139 $ — $ 3,450 Nonperforming — — — — — — — — $ 1,658 $ 745 $ 607 $ 251 $ 50 $ 139 $ — $ 3,450 Total Retail $ 59,774 $ 41,821 $ 27,154 $ 10,524 $ 5,218 $ 31,264 $ 60,026 $ 235,781 The following table presents the recorded investment in consumer loans based on payment status at December 31, 2022 Residential Consumer Home Consumer December 31, 2022 Mortgage Unsecured Equity Other Performing $ 139,071 $ 121 $ 56,321 $ 2,839 Nonperforming 77 — — — Total $ 139,148 $ 121 $ 56,321 $ 2,839 |
Note 4 - Fair Value
Note 4 - Fair Value | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4 FAIR VALUE ASC Topic 820, Fair Value Measurements and Disclosures three may Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 not Level 3 Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. Investment Securities 2 3 Loans Held for Sale third 2 Impaired Loans one three no 3. may 3 Other Real Estate Owned third may 3 3. Interest Rate Swaps third 3. Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands): Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) September 30, 2023 Available for sale securities U.S. Treasury and federal agency securities $ 240,113 $ — $ 240,113 $ — U.S. Agency MBS and CMOs 109,962 — 109,962 — Tax-exempt state and municipal bonds 33,249 — 33,249 — Taxable state and municipal bonds 108,209 — 108,209 — Corporate bonds and other debt securities 11,744 — 11,744 — Other equity securities 1,260 — 1,260 — Loans held for sale — — — — Interest rate swaps 6,812 — 6,812 — Total assets measured at fair value on recurring basis $ 511,349 $ — $ 511,349 $ — Interest rate swaps $ (6,812 ) $ — $ (6,812 ) $ — Total liabilities measured at fair value on recurring basis $ (6,812 ) $ — $ (6,812 ) $ — December 31, 2022 Available for sale securities U.S. Treasury and federal agency securities $ 224,634 $ — $ 224,634 $ — U.S. Agency MBS and CMOs 113,818 — 113,818 — Tax-exempt state and municipal bonds 36,710 — 36,710 — Taxable state and municipal bonds 112,171 — 112,171 — Corporate bonds and other debt securities 11,924 — 11,924 — Other equity securities 1,304 — 1,304 — Loans held for sale 215 — 215 — Interest rate swaps 6,463 — 6,463 — Total assets measured at fair value on recurring basis $ 507,239 $ — $ 507,239 $ — Interest rate swaps $ (6,463 ) $ — $ (6,463 ) $ — Total liabilities measured at fair value on recurring basis $ (6,463 ) $ — $ (6,463 ) $ — Assets measured at fair value on a non-recurring basis are summarized below (in thousands): Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) September 30, 2023 Collateral dependent loans $ 27 $ — $ — $ 27 December 31, 2022 Impaired loans $ 328 $ — $ — $ 328 Quantitative information about Level 3 Asset Fair Valuation Unobservable Value Technique Inputs Range (%) September 30, 2023 Collateral dependent loans $ 27 Sales comparison approach Adjustment for differences between comparable sales 2.0 to 41.0 Income approach Capitalization rate 7.5 to 8.5 Asset Fair Valuation Unobservable Value Technique Inputs Range (%) December 31, 2022 Impaired Loans $ 328 Sales comparison approach Adjustment for differences between comparable sales 1.5 to 20.0 Income approach Capitalization rate 9.5 to 11.0 The carrying amounts and estimated fair values of financial instruments, not September 30, 2023 December 31, 2022 Level in September 30, 2023 December 31, 2022 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets Cash and due from banks Level 1 $ 40,687 $ 40,687 $ 51,215 $ 51,215 Federal funds sold and other short-term investments Level 1 469,786 469,786 703,955 703,955 Securities held to maturity - U.S. Treasury Level 2 251,248 238,971 251,307 237,630 Securities held to maturity - tax-exempt and municipal Level 3 78,755 75,487 97,458 95,020 FHLB stock Level 3 10,211 10,211 10,211 10,211 Loans, net Level 2 1,274,262 1,249,319 1,162,135 1,131,387 Bank owned life insurance Level 3 54,043 54,043 53,345 53,345 Accrued interest receivable Level 2 9,957 9,957 7,606 7,606 Financial liabilities Deposits Level 2 (2,445,586 ) (2,447,649 ) (2,615,142 ) (2,615,860 ) Other borrowed funds Level 2 (30,000 ) (29,006 ) (30,000 ) (28,666 ) Accrued interest payable Level 2 (554 ) (554 ) (114 ) (114 ) Off-balance sheet credit-related items Loan commitments — — — — The methods and assumptions used to estimate fair value are described as follows. Carrying amount is the estimated fair value for cash and cash equivalents, bank owned life insurance, accrued interest receivable and payable, demand deposits, short-term borrowings and variable rate loans or deposits that reprice frequently and fully. Security fair values are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities as discussed above. For fixed rate loans, interest-bearing time deposits in other financial institutions, or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk (including consideration of widening credit spreads). Fair value of debt is based on current rates for similar financing. It was not not The estimated fair values of financial instruments disclosed above follow the guidance in ASU 2016 01 |
Note 5 - Derivatives
Note 5 - Derivatives | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 5 Derivatives not not not no The notional and fair value of derivative instruments as of September 30, 2023 December 31, 2022 Notional Amount Balance Sheet Location Fair Value September 30, 2023 Derivative assets Interest rate swaps $ 55,349 Other Assets $ 6,812 Derivative liabilities Interest rate swaps 55,349 Other Liabilities 6,812 Notional Amount Balance Sheet Location Fair Value December 31, 2022 Derivative assets Interest rate swaps $ 62,661 Other Assets $ 6,463 Derivative liabilities Interest rate swaps 62,661 Other Liabilities 6,463 The fair value of interest rate swaps in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, was $6.8 million and $6.5 million as of September 30, 2023 December 31, 2022 September 30, 2023 $0 December 31, 2022 September 30, 2023 December 31, 2022 Interest rate swaps entered into with commercial loan customers had notional amounts aggregating $55.3 million as of September 30, 2023 December 31, 2022 |
Note 6 - Deposits
Note 6 - Deposits | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 6 DEPOSITS Deposits are summarized as follows (dollars in thousands): September 30, December 31, 2023 2022 Noninterest-bearing demand $ 653,052 $ 834,879 Interest bearing demand 660,714 760,889 Savings and money market accounts 847,429 922,418 Certificates of deposit 284,391 96,956 $ 2,445,586 $ 2,615,142 Time deposits that exceeded the FDIC insurance limit of $250,000 September 30, 2023 December 31, 2022 |
Note 7 - Other Borrowed Funds
Note 7 - Other Borrowed Funds | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 Other borrowed funds include advances from the Federal Home Loan Bank and borrowings from the Federal Reserve Bank. Federal Home Loan Bank Advances At period-end, advances from the Federal Home Loan Bank were as follows (dollars in thousands): Weighted Advance Average Principal Terms Amount Range of Maturities Interest Rate September 30, 2023 Single maturity fixed rate advance $ 10,000 February 2024 2.63 % Putable advance 20,000 November 2024 1.81 % $ 30,000 Weighted Advance Average Principal Terms Amount Range of Maturities Interest Rate December 31, 2022 Single maturity fixed rate advance $ 10,000 February 2024 2.63 % Putable advance 20,000 November 2024 1.81 % $ 30,000 Each advance is subject to a prepayment fee if paid prior to its maturity date. Fixed rate advances are payable at maturity. Amortizable mortgage advances are fixed rate advances with scheduled repayments based upon amortization to maturity. These advances were collateralized by residential and commercial real estate loans totaling $463.5 million and $446.1 million under a blanket lien arrangement at September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 one November 13, 2020. not Scheduled repayments of FHLB advances as of September 30, 2023 2023 $ — 2024 30,000 2025 — 2026 — 2027 — Thereafter — $ 30,000 Federal Reserve Bank borrowings The Company has a financing arrangement with the Federal Reserve Bank. There were no borrowings outstanding at September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 March 2023, no one September 30, 2023 March 11, 2024. |
Note 8 - Earnings Per Common Sh
Note 8 - Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 8 A reconciliation of the numerators and denominators of basic and diluted earnings per common share for the three nine September 30, 2023 2022 Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Net income available to common shares $ 11,413 $ 10,045 $ 33,729 $ 22,614 Weighted average shares outstanding, including participating stock awards - Basic 34,291,487 34,251,792 34,293,531 34,253,459 Dilutive potential common shares: Stock options — — — — Weighted average shares outstanding - Diluted 34,291,487 34,251,792 34,293,531 34,253,459 Basic earnings per common share $ 0.33 $ 0.29 $ 0.98 $ 0.66 Diluted earnings per common share $ 0.33 $ 0.29 $ 0.98 $ 0.66 There were no antidilutive shares of common stock in the three nine September 30, 2023 2022 |
Note 9 - Federal Income Taxes
Note 9 - Federal Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9 Income tax expense was as follows (dollars in thousands): Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Current $ 2,654 $ 2,436 $ 7,921 $ 4,787 Deferred 154 52 336 585 $ 2,808 $ 2,488 $ 8,257 $ 5,372 The difference between the financial statement tax expense and amount computed by applying the statutory federal tax rate to pretax income was reconciled as follows (dollars in thousands): Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Statutory rate 21 % 21 % 21 % 21 % Statutory rate applied to income before taxes $ 2,986 $ 2,632 $ 8,817 $ 5,877 Deduct Tax-exempt interest income (114 ) (137 ) (362 ) (434 ) Bank-owned life insurance (51 ) (45 ) (139 ) (144 ) Other, net (13 ) 38 (59 ) 73 $ 2,808 $ 2,488 $ 8,257 $ 5,372 The realization of deferred tax assets is largely dependent upon future taxable income, future reversals of existing taxable temporary differences and the ability to carryback losses to available tax years. In assessing the need for a valuation allowance, we consider positive and negative evidence, including taxable income in carry-back years, scheduled reversals of deferred tax liabilities, expected future taxable income and tax planning strategies. Management believes it is more likely than not September 30, 2023 The net deferred tax asset recorded included the following amounts of deferred tax assets and liabilities (dollars in thousands): September 30, December 31, 2023 2022 Deferred tax assets Allowance for credit losses $ 3,570 $ 3,210 Net deferred loan fees — — Nonaccrual loan interest 13 12 Valuation allowance on other real estate owned — — Unrealized loss on securities available for sale and transferred to held to maturity 8,921 8,394 Other 388 257 Gross deferred tax assets 12,892 11,873 Valuation allowance — — Total net deferred tax assets 12,892 11,873 Deferred tax liabilities Depreciation (1,032 ) (1,098 ) Net deferred loan fees (15 ) (309 ) Prepaid expenses (303 ) (21 ) Other (1,316 ) (733 ) Gross deferred tax liabilities (2,666 ) (2,161 ) Net deferred tax asset $ 10,226 $ 9,712 There were no unrecognized tax benefits at September 30, 2023 December 31, 2022 not twelve no 2020. |
Note 10 - Commitments and Off B
Note 10 - Commitments and Off Balance-sheet Risk | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 10 COMMITMENTS AND OFF BALANCE-SHEET RISK Some financial instruments are used to meet customer financing needs and to reduce exposure to interest rate changes. These financial instruments include commitments to extend credit and standby letters of credit. These involve, to varying degrees, credit and interest rate risk in excess of the amount reported in the financial statements. Commitments to extend credit are agreements to lend to a customer as long as there is no not third not September 30, 2023 A summary of the contractual amounts of financial instruments with off‑balance‑sheet risk was as follows at period-end (dollars in thousands): September 30, December 31, 2023 2022 Commitments to extend credit $ 83,509 $ 77,384 Letters of credit 10,034 13,455 Unused lines of credit 715,072 745,674 The notional amount of commitments to fund mortgage loans to be sold into the secondary market was approximately $0 and $0 at September 30, 2023 December 31, 2022 The Bank enters into commitments to sell mortgage backed securities, which it later buys back in order to hedge its exposure to interest rate risk in its mortgage pipeline. These commitments were approximately$250,000 and $0 at September 30, 2023 December 31, 2022 At September 30, 2023 one 30 |
Note 11 - Contingencies
Note 11 - Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | NOTE 11 CONTINGENCIES The Company and its subsidiaries periodically become defendants in certain claims and legal actions arising in the ordinary course of business. As of September 30, 2023 no |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 12 SHAREHOLDERS' EQUITY Regulatory Capital The Company and the Bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors, and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. The prompt corrective action regulations provide five not The regulatory capital requirements include a common equity Tier 1 CET1 CET1 1 1 At September 30, 2023 December 31, 2022 To Be Well Minimum Minimum Capital Capitalized Under Capital Adequacy With Prompt Corrective Actual Adequacy Capital Buffer Action Regulations Amount Ratio Amount Ratio Amount Ratio Amount Ratio September 30, 2023 CET1 capital (to risk weighted assets) Consolidated $ 303,438 17.7 % $ 77,330 4.5 % $ 120,292 7.0 % N/A N/A Bank 294,503 17.1 77,329 4.5 120,289 7.0 $ 111,697 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 303,438 17.7 103,107 6.0 146,068 8.5 N/A N/A Bank 294,503 17.1 103,105 6.0 146,065 8.5 137,473 8.0 Total capital (to risk weighted assets) Consolidated 320,439 18.7 137,476 8.0 180,437 10.5 N/A N/A Bank 311,504 18.1 137,473 8.0 180,434 10.5 171,842 10.0 Tier 1 capital (to average assets) Consolidated 303,438 10.9 111,285 4.0 N/A N/A N/A N/A Bank 294,503 10.6 111,280 4.0 N/A N/A 139,100 5.0 December 31, 2022 CET1 capital (to risk weighted assets) Consolidated $ 278,615 16.9 % $ 74,003 4.5 % $ 115,116 7.0 % N/A N/A Bank 270,274 16.4 73,992 4.5 115,098 7.0 $ 106,877 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 278,615 16.9 98,670 6.0 139,783 8.5 N/A N/A Bank 270,274 16.4 98,655 6.0 139,762 8.5 131,540 8.0 Total capital (to risk weighted assets) Consolidated 293,900 17.9 131,561 8.0 172,673 10.5 N/A N/A Bank 285,559 17.4 131,540 8.0 172,647 10.5 164,426 10.0 Tier 1 capital (to average assets) Consolidated 278,615 9.7 114,589 4.0 N/A N/A N/A N/A Bank 270,274 9.4 114,582 4.0 N/A N/A 143,227 5.0 The Bank was categorized as "well capitalized" at September 30, 2023 December 31, 2022 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation Macatawa Bank is a Michigan chartered bank with depository accounts insured by the Federal Deposit Insurance Corporation ("FDIC"). The Bank operates 26 full service branch offices providing a full range of commercial and consumer banking and trust services in Kent County, Ottawa County, and northern Allegan County, Michigan. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation 10 10 X. not Operating results for the three nine September 30, 2023 not may December 31, 2023. 10 December 31, 2022 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | FASB issued ASU No. 2016 13, Financial Instruments Credit Losses (Topic 326 no may 2022 02, Financial Instruments - Credit Losses (Topic 326 The Company adopted these standards as required on January 1, 2023 January 1, 2023 Allowance for Credit Losses ("ACL") - Loans may The allowance is measured on a collective pool basis when similar risk characteristics exist. Loans with similar risk characteristics are grouped into homogeneous classes, or pools, for allowance calculation. Commercial loans are divided into eight classes based primarily on property type and risk characteristics. They are further segmented based on commercial loan risk grade. Retail loans are segmented into categories including residential mortgage, home equity, unsecured and other secured and then further segmented based on delinquency status. The Company's loan portfolio classes as of September 30, 2023 Commercial Loans: Commercial and Industrial Residential developed Unsecured to residential developers Vacant and unimproved Commercial development Residential improved Commercial improved Manufacturing and industrial Consumer Loans: Residential mortgage Unsecured Home equity Other secured The remaining life methodology is used for all loan pools. This nondiscounted cash flow approach projects an estimated future amortized cost basis based on current loan balance and repayment terms. Given the bank's limited loss history over the past twelve Reasonable and supportable economic forecasts have to be incorporated in determining expected losses. The forecast period represents the time frame from the current period end through the point in time that the Company can reasonably forecast. Ideally, the economic forecast period would cover the contractual terms of all loans; however, the ability to produce a forecast that is both reasonable and supportable becomes more difficult the longer the period is projected. For periods beyond the forecast period, the loss rate reverts back to the baseline lifetime loss. As of September 30, 2023 one nine third twenty five September 2023 December 2006 June 2007). September 30, 2023 not one June 30, 2023 A number of qualitative factors are considered including economic forecast uncertainty, credit quality trends, valuation trends, concentration risk, quality of loan review, changes in personnel, impact of rising interest rates, external factors and other considerations. During each reporting period, management also considers the need to adjust the baseline lifetime loss rates for factors that may The Company is also required to consider expected credit losses associated with loan commitments over the contractual period in which it is exposed to credit risk on the underlying commitments. Any allowance for off-balance sheet credit exposures is reported as an other liability on the Company's Consolidated Balance Sheet and is increased or decreased via other noninterest expense on the Company's Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same methodology, inputs and assumptions as the funded portion of loans at the segment level applied to the amount of commitments expected to be funded. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the respective term of the loan using the level-yield method without anticipating prepayments. Accrued interest on loans totaled $4.8 million at September 30, 2023 December 31, 2022 Accrued interest receivable for loans is included as a separate line item on the Company's Consolidated Balance Sheet. The Company elected not Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 no 120 90 All interest accrued but not |
Marketable Securities, Policy [Policy Text Block] | Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level yield method without anticipating prepayments. Gains and losses on sales are based on the amortized cost of the security sold. Accrued interest receivable on securities totaled $4.4 million at September 30, 2023 December 31, 2022 ACL - Securities Available for Sale not not 326 30 not September 30, 2023 ACL - Securities Held to Maturity no 1 2 3 4 September 30, 2023 no |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company recognizes a tax position as a benefit only if it is "more likely than not" 50% not not" no |
Revenue from Contract with Customer [Policy Text Block] | Revenue From Contracts With Customers 606, Revenue from Contracts with Customers 606" 606, No The Company's primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not The Company generally satisfies its performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 Interest Income: The Company’s largest source of revenue is interest income which is primarily recognized on an accrual basis based on contractual terms written into loans and investment contracts. Noninterest Revenue: The Company derives the majority of its noninterest revenue from: ( 1 2 3 4 |
Derivatives, Reporting of Derivative Activity [Policy Text Block] | Derivatives two no September 30, 2023 December 31, 2022 |
Loan Commitments, Policy [Policy Text Block] | Mortgage Banking Derivatives not not Changes in the fair values of these interest rate lock and mortgage backed security and forward commitment derivatives are included in net gains on mortgage loans. The fair value of interest rate lock commitments was $(2,000) at September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 |
Financing Receivable, Held-for-Sale [Policy Text Block] | Loans Held for Sale September 30, 2023 December 31, 2022 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Not 2023 01, Investments - Equity Method and Joint Ventures (Topic 323 December 15, 2023, no not FASB issued ASU 2023 01, Leases (Topic 842 December 15, 2023, not not |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2023 Available for Sale U.S. Treasury and federal agency securities $ 255,887 $ — $ (15,774 ) $ 240,113 U.S. Agency MBS and CMOs 127,040 — (17,078 ) 109,962 Tax-exempt state and municipal bonds 34,614 — (1,365 ) 33,249 Taxable state and municipal bonds 116,132 4 (7,927 ) 108,209 Corporate bonds and other debt securities 12,161 — (417 ) 11,744 $ 545,834 $ 4 $ (42,561 ) $ 503,277 Held to Maturity U.S. Treasury $ 251,248 $ — $ (12,277 ) $ 238,971 Tax-exempt state and municipal bonds 78,755 55 (3,323 ) 75,487 $ 330,003 $ 55 $ (15,600 ) $ 314,458 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2022 Available for Sale: U.S. Treasury and federal agency securities $ 240,921 $ 23 $ (16,310 ) $ 224,634 U.S. Agency MBS and CMOs 128,165 — (14,347 ) 113,818 Tax-exempt state and municipal bonds 37,198 10 (498 ) 36,710 Taxable state and municipal bonds 120,647 49 (8,525 ) 112,171 Corporate bonds and other debt securities 12,387 — (463 ) 11,924 $ 539,318 $ 82 $ (40,143 ) $ 499,257 Held to Maturity U.S. Treasury $ 251,307 $ — $ (13,677 ) $ 237,630 Tax-exempt state and municipal bonds 97,458 415 (2,853 ) 95,020 $ 348,765 $ 415 $ (16,530 ) $ 332,650 Held–to-Maturity Securities Available-for-Sale Securities Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ 133,471 $ 131,195 $ 96,702 $ 95,025 Due from one to five years 179,098 166,829 304,828 283,371 Due from five to ten years 17,434 16,434 18,656 16,224 Due after ten years — — 125,648 108,657 $ 330,003 $ 314,458 $ 545,834 $ 503,277 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized September 30, 2023 Value Loss Value Loss Value Loss Available for Sale U.S. Treasury and federal agency securities $ 32,037 $ (293 ) $ 208,077 $ (15,481 ) $ 240,114 $ (15,774 ) U.S. Agency MBS and CMOs 27,594 (646 ) 82,369 (16,432 ) 109,963 (17,078 ) Tax-exempt state and municipal bonds 18,452 (692 ) 14,796 (673 ) 33,248 (1,365 ) Taxable state and municipal bonds 12,611 (153 ) 93,537 (7,774 ) 106,148 (7,927 ) Corporate bonds and other debt securities 460 (10 ) 11,284 (407 ) 11,744 (417 ) $ 91,154 $ (1,794 ) $ 410,063 $ (40,767 ) $ 501,217 $ (42,561 ) Held to Maturity U.S. Treasury $ — $ — $ 238,972 $ (12,277 ) $ 238,972 $ (12,277 ) Tax-exempt state and municipal bonds 14,869 (206 ) 53,122 (3,117 ) 67,991 (3,323 ) $ 14,869 $ (206 ) $ 292,094 $ (15,394 ) $ 306,963 $ (15,600 ) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2022 Value Loss Value Loss Value Loss Available for Sale: U.S. Treasury and federal agency securities $ 144,796 $ (6,230 ) $ 66,008 $ (10,080 ) $ 210,804 $ (16,310 ) U.S. Agency MBS and CMOs 64,427 (4,789 ) 41,340 (9,558 ) 105,767 (14,347 ) Tax-exempt state and municipal bonds 31,337 (498 ) — — 31,337 (498 ) Taxable state and municipal bonds 71,165 (3,337 ) 33,452 (5,188 ) 104,617 (8,525 ) Corporate bonds and other debt securities 10,668 (357 ) 1,256 (106 ) 11,924 (463 ) $ 322,393 $ (15,211 ) $ 142,056 $ (24,932 ) $ 464,449 $ (40,143 ) Held to Maturity: U.S. Treasury $ 237,630 $ (13,677 ) $ — $ — $ 237,630 $ (13,677 ) Tax-exempt state and municipal bonds 57,671 (2,314 ) 21,721 (539 ) 79,392 (2,853 ) $ 295,301 $ (15,991 ) $ 21,721 $ (539 ) $ 317,022 $ (16,530 ) |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2023 2022 Commercial and industrial $ 488,224 $ 441,716 Commercial real estate: Residential developed 5,040 7,234 Unsecured to residential developers 800 — Vacant and unimproved 37,084 36,270 Commercial development 89 103 Residential improved 116,407 112,791 Commercial improved 257,673 259,281 Manufacturing and industrial 150,192 121,924 Total commercial real estate 567,285 537,603 Consumer: Residential mortgage 180,420 139,148 Unsecured 113 121 Home equity 51,798 56,321 Other secured 3,450 2,839 Total consumer 235,781 198,429 Total loans 1,291,290 1,177,748 Allowance for credit losses (17,001 ) (15,285 ) $ 1,274,289 $ 1,162,463 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial and Commercial Three months ended September 30, 2023 Industrial Real Estate Consumer Unallocated Total Beginning balance $ 7,011 $ 6,928 $ 3,099 $ 71 $ 17,109 Charge-offs — — (41 ) — (41 ) Recoveries 8 50 25 — 83 Provision for credit losses (1) (398 ) 114 177 (43 ) (150 ) Ending Balance $ 6,621 $ 7,092 $ 3,260 $ 28 $ 17,001 Commercial and Commercial Nine months ended September 30, 2023 Industrial Real Estate Consumer Unallocated Total Beginning balance, prior to adoption of ASU 2016-03 $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Impact of adoption of ASU 2016-03 1,299 (212 ) 389 — 1,476 Charge-offs — — (84 ) — (84 ) Recoveries 24 56 94 — 174 Provision for credit losses (1) (298 ) 68 403 (23 ) 150 Ending Balance $ 6,621 $ 7,092 $ 3,260 $ 28 $ 17,001 Commercial and Commercial Three months ended September 30, 2022 Industrial Real Estate Consumer Unallocated Total Beginning balance $ 5,256 $ 7,022 $ 2,316 $ 37 $ 14,631 Charge-offs — — (46 ) — (46 ) Recoveries 175 5 56 — 236 Provision for credit losses (1) 179 (147 ) (14 ) (18 ) — Ending Balance $ 5,610 $ 6,880 $ 2,312 $ 19 $ 14,821 Commercial and Commercial Nine months ended September 30, 2022 Industrial Real Estate Consumer Unallocated Total Beginning balance $ 5,176 $ 8,051 $ 2,633 $ 29 $ 15,889 Charge-offs (38 ) — (103 ) — (141 ) Recoveries 185 276 112 — 573 Provision for credit losses (1) 287 (1,447 ) (330 ) (10 ) (1,500 ) Ending Balance $ 5,610 $ 6,880 $ 2,312 $ 19 $ 14,821 |
Gross Charge-offs by Portfolio Segment and Origination Year [Table Text Block] | Term Loans By Origination Year Revolving September 30, 2023 2023 2022 2021 2020 2019 Prior Loans Total Commercial and industrial $ — $ — $ — $ — $ — $ — $ — $ — Commercial development — — — — — — — — Commercial improved — — — — — — — — Manufacturing and industrial — — — — — — — — Residential development — — — — — — — — Residential improved — — — — — — — — Vacant and unimproved — — — — — — — — Total commercial — — — — — — — — Residential mortgage — — — — — — — — Consumer unsecured — — — — — — — — Home equity — — — — — — — — Other — — — — — — 84 84 Total consumer — — — — — — 84 84 Total loans — — — — — — 84 84 |
Schedule of Collateral Dependent Loans [Table Text Block] | Collateral Type Allowance September 30, 2023 Real Estate Other Allocated Commercial and industrial $ 584 $ — $ — Commercial real estate: Residential developed — — — Unsecured to residential developers — — — Vacant and unimproved — — — Commercial development — — — Residential improved 27 — — Commercial improved 296 — — Manufacturing and industrial 546 — — 869 — — Consumer Residential mortgage — — — Unsecured — — — Home equity — — — Other secured — — — Consumer — — — Total $ 1,453 $ — $ — |
Allowance For Credit Losses And Recorded Investment In Loans By Portfolio Segment [Table Text Block] | Commercial and Commercial December 31, 2022 Industrial Real Estate Consumer Unallocated Total Allowance for credit losses: Ending allowance attributable to loans: Individually reviewed for impairment $ 55 $ 20 $ 220 $ — $ 295 Collectively evaluated for impairment 5,541 7,160 2,238 51 14,990 Total ending allowance balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Loans: Individually reviewed for impairment $ 3,603 $ 518 $ 2,886 $ — $ 7,007 Collectively evaluated for impairment 438,113 537,085 195,543 — 1,170,741 Total ending loans balance $ 441,716 $ 537,603 $ 198,429 $ — $ 1,177,748 |
Loans individually evaluated for impairment by class of loans [Table Text Block] | Unpaid Year-To-Date Principal Recorded Allowance Average Recorded December 31, 2022 Balance Investment Allocated Investment With no related allowance recorded: Commercial and industrial $ 3,278 $ 3,278 $ — $ 2,338 Commercial real estate: Residential improved 31 31 — 33 31 31 — 33 Consumer — — — — Total with no related allowance recorded $ 3,309 $ 3,309 $ — $ 2,371 With an allowance recorded: Commercial and industrial $ 325 $ 325 $ 55 $ 365 Commercial real estate: Commercial improved 307 307 9 313 Manufacturing and industrial 180 180 11 185 487 487 20 498 Consumer: Residential mortgage 2,653 2,653 202 2,619 Unsecured 29 29 2 29 Home equity 204 204 16 234 2,886 2,886 220 2,882 Total with an allowance recorded $ 3,698 $ 3,698 $ 295 $ 3,745 Total $ 7,007 $ 7,007 $ 295 $ 6,116 |
Financing Receivable, Nonaccrual [Table Text Block] | Over 90 Total Nonaccrual with Nonaccrual with days Nonperforming September 30, 2023 No Allowance Allowance Total Nonaccrual Accruing Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential Improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 1 1 — 1 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 1 1 — 1 Total $ — $ 1 $ 1 $ — $ 1 Over 90 Total Nonaccrual with Nonaccrual with days Nonperforming December 31, 2022 No Allowance Allowance Total Nonaccrual Accruing Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 78 78 — 78 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 78 78 — 78 Total $ — $ 78 $ 78 $ — $ 78 |
Financing Receivable, Past Due [Table Text Block] | 30 90 Greater Than Total Loans Not September 30, 2023 Days 90 Days Past Due Past Due Total Commercial and industrial $ — $ — $ — $ 488,224 $ 488,224 Commercial real estate: Residential developed — — — 5,040 5,040 Unsecured to residential developers — — — 800 800 Vacant and unimproved — — — 37,084 37,084 Commercial development — — — 89 89 Residential improved — — — 116,407 116,407 Commercial improved — — — 257,673 257,673 Manufacturing and industrial — — — 150,192 150,192 — — — 567,285 567,285 Consumer: Residential mortgage — — — 180,420 180,420 Unsecured — — — 113 113 Home equity — — — 51,798 51,798 Other secured — — — 3,450 3,450 — — — 235,781 235,781 Total $ — $ — $ — $ 1,291,290 $ 1,291,290 30-90 Greater Than Total Loans Not December 31, 2022 Days 90 Days Past Due Past Due Total Commercial and industrial $ — $ — $ — $ 441,716 $ 441,716 Commercial real estate: Residential developed — — — 7,234 7,234 Unsecured to residential developers — — — — — Vacant and unimproved — — — 36,270 36,270 Commercial development — — — 103 103 Residential improved — — — 112,791 112,791 Commercial improved 71 — 71 259,210 259,281 Manufacturing and industrial — — — 121,924 121,924 71 — 71 537,532 537,603 Consumer: Residential mortgage — 77 77 139,071 139,148 Unsecured — — — 121 121 Home equity 24 — 24 56,297 56,321 Other secured — — — 2,839 2,839 24 77 101 198,328 198,429 Total $ 95 $ 77 $ 172 $ 1,177,576 $ 1,177,748 |
Financing Receivable, Modified [Table Text Block] | September 30, 2023 Outstanding Percentage to Number of Recorded Total Loans Balance Loans Commercial and industrial 3 $ 266 0.05 % Commercial real estate 3 493 0.09 % Consumer 31 2,690 1.14 % 37 $ 3,449 0.27 % September 30, 2023 Accruing - nonaccrual at modification $ — Accruing - accruing at modification 3,449 Accruing - upgraded to accruing after six consecutive payments — $ 3,449 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Term Loans Amortized Cost Basis By Origination Year and Risk Grades September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Commercial Commercial and industrial Grades 1-3 $ 42,102 $ 56,819 $ 16,680 $ 5,488 $ 12,718 $ 41,434 $ 66,332 $ 241,573 Grade 4 55,344 40,840 22,181 14,968 7,699 24,553 72,555 238,140 Grade 5 — 415 59 284 72 1,232 5,820 7,882 Grade 6 584 — 20 — — 25 — 629 Grade 7-8 — — — — — — — — $ 98,030 $ 98,074 $ 38,940 $ 20,740 $ 20,489 $ 67,244 $ 144,707 $ 488,224 Residential development Grades 1-3 $ — $ — $ — $ — $ — $ — $ — $ — Grade 4 399 612 679 — — — 3,350 5,040 Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 399 $ 612 $ 679 $ — $ — $ — $ 3,350 $ 5,040 Unsecured to residential developers Grades 1-3 $ — $ — $ — $ — $ — $ 800 $ — $ 800 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ — $ — $ — $ — $ 800 $ — $ 800 Vacant and unimproved Grades 1-3 $ 449 $ 4,842 $ 8,144 $ 6,874 $ — $ 83 $ 150 $ 20,542 Grade 4 1,548 2,498 2,671 7,987 157 110 239 15,210 Grade 5 1,332 — — — — — — 1,332 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 3,329 $ 7,340 $ 10,815 $ 14,861 $ 157 $ 193 $ 389 $ 37,084 Commercial development Grades 1-3 $ — $ 89 $ — $ — $ — $ — $ — $ 89 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ 89 $ — $ — $ — $ — $ — $ 89 Residential improved Grades 1-3 $ 4,635 $ 12,320 $ 1,359 $ 8,797 $ 251 $ 5,225 $ 789 $ 33,376 Grade 4 974 553 33,253 1,795 7,092 15,454 23,882 83,003 Grade 5 — — 28 — — — — 28 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 5,609 $ 12,873 $ 34,640 $ 10,592 $ 7,343 $ 20,679 $ 24,671 $ 116,407 Commercial improved Grades 1-3 $ 12,533 $ 22,410 $ 51,324 $ 19,385 $ 14,513 $ 15,695 $ 8,582 $ 144,442 Grade 4 6,353 34,017 16,729 31,082 16,674 2,080 443 107,378 Grade 5 269 26 — — 2,164 3,098 — 5,557 Grade 6 — — 296 — — — — 296 Grade 7-8 — — — — — — — — $ 19,155 $ 56,453 $ 68,349 $ 50,467 $ 33,351 $ 20,873 $ 9,025 $ 257,673 Manufacturing and industrial Grades 1-3 $ 7,062 $ 35,006 $ 5,425 $ 6,672 $ 4,240 $ 3,824 $ 880 $ 63,109 Grade 4 16,712 26,539 12,692 7,603 5,641 13,138 1,665 83,990 Grade 5 170 — — — — 305 — 475 Grade 6 — — — — — 2,618 — 2,618 Grade 7-8 — — — — — — — — $ 23,944 $ 61,545 $ 18,117 $ 14,275 $ 9,881 $ 19,885 $ 2,545 $ 150,192 Total Commercial Grades 1-3 $ 66,781 $ 131,486 $ 82,932 $ 47,216 $ 31,722 $ 67,061 $ 76,733 $ 503,931 Grade 4 81,330 105,059 88,205 63,435 37,263 55,335 102,134 532,761 Grade 5 1,771 441 87 284 2,236 4,635 5,820 15,274 Grade 6 584 — 316 — — 2,643 — 3,543 Grade 7-8 — — — — — — — — $ 150,466 $ 236,986 $ 171,540 $ 110,935 $ 71,221 $ 129,674 $ 184,687 $ 1,055,509 December 31, 2022 1 2 3 4 5 6 7 8 Total Commercial and industrial $ 15,040 $ 21,451 $ 175,762 $ 220,987 $ 8,309 $ 167 $ — $ — $ 441,716 Commercial real estate: Residential developed — — — 7,234 — — — — 7,234 Unsecured to residential developers — — — — — — — — — Vacant and unimproved — 1,231 18,406 16,633 — — — — 36,270 Commercial development — — 103 — — — — — 103 Residential improved — — 25,585 87,176 30 — — — 112,791 Commercial improved — 17,802 83,769 151,641 5,762 307 — — 259,281 Manufacturing & industrial — 11,422 32,977 73,566 1,646 2,313 — — 121,924 $ 15,040 $ 51,906 $ 336,602 $ 557,237 $ 15,747 $ 2,787 $ — $ — $ 979,319 Term Loans Amortized Cost Basis By Origination Year September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Retail Residential mortgage Performing $ 57,860 $ 40,375 $ 26,324 $ 9,800 $ 4,936 $ 29,136 $ 11,989 $ 180,420 Nonperforming — — — — — — — — $ 57,860 $ 40,375 $ 26,324 $ 9,800 $ 4,936 $ 29,136 $ 11,989 $ 180,420 Consumer unsecured Performing $ — $ — $ — $ 12 $ 13 $ — $ 88 $ 113 Nonperforming — — — — — — — — $ — $ — $ — $ 12 $ 13 $ — $ 88 $ 113 Home equity Performing $ 256 $ 701 $ 223 $ 461 $ 219 $ 1,989 $ 47,949 $ 51,798 Nonperforming — — — — — — — — $ 256 $ 701 $ 223 $ 461 $ 219 $ 1,989 $ 47,949 $ 51,798 Other Performing $ 1,658 $ 745 $ 607 $ 251 $ 50 $ 139 $ — $ 3,450 Nonperforming — — — — — — — — $ 1,658 $ 745 $ 607 $ 251 $ 50 $ 139 $ — $ 3,450 Total Retail $ 59,774 $ 41,821 $ 27,154 $ 10,524 $ 5,218 $ 31,264 $ 60,026 $ 235,781 Residential Consumer Home Consumer December 31, 2022 Mortgage Unsecured Equity Other Performing $ 139,071 $ 121 $ 56,321 $ 2,839 Nonperforming 77 — — — Total $ 139,148 $ 121 $ 56,321 $ 2,839 |
Note 4 - Fair Value (Tables)
Note 4 - Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) September 30, 2023 Available for sale securities U.S. Treasury and federal agency securities $ 240,113 $ — $ 240,113 $ — U.S. Agency MBS and CMOs 109,962 — 109,962 — Tax-exempt state and municipal bonds 33,249 — 33,249 — Taxable state and municipal bonds 108,209 — 108,209 — Corporate bonds and other debt securities 11,744 — 11,744 — Other equity securities 1,260 — 1,260 — Loans held for sale — — — — Interest rate swaps 6,812 — 6,812 — Total assets measured at fair value on recurring basis $ 511,349 $ — $ 511,349 $ — Interest rate swaps $ (6,812 ) $ — $ (6,812 ) $ — Total liabilities measured at fair value on recurring basis $ (6,812 ) $ — $ (6,812 ) $ — December 31, 2022 Available for sale securities U.S. Treasury and federal agency securities $ 224,634 $ — $ 224,634 $ — U.S. Agency MBS and CMOs 113,818 — 113,818 — Tax-exempt state and municipal bonds 36,710 — 36,710 — Taxable state and municipal bonds 112,171 — 112,171 — Corporate bonds and other debt securities 11,924 — 11,924 — Other equity securities 1,304 — 1,304 — Loans held for sale 215 — 215 — Interest rate swaps 6,463 — 6,463 — Total assets measured at fair value on recurring basis $ 507,239 $ — $ 507,239 $ — Interest rate swaps $ (6,463 ) $ — $ (6,463 ) $ — Total liabilities measured at fair value on recurring basis $ (6,463 ) $ — $ (6,463 ) $ — |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) September 30, 2023 Collateral dependent loans $ 27 $ — $ — $ 27 December 31, 2022 Impaired loans $ 328 $ — $ — $ 328 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Asset Fair Valuation Unobservable Value Technique Inputs Range (%) September 30, 2023 Collateral dependent loans $ 27 Sales comparison approach Adjustment for differences between comparable sales 2.0 to 41.0 Income approach Capitalization rate 7.5 to 8.5 Asset Fair Valuation Unobservable Value Technique Inputs Range (%) December 31, 2022 Impaired Loans $ 328 Sales comparison approach Adjustment for differences between comparable sales 1.5 to 20.0 Income approach Capitalization rate 9.5 to 11.0 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Level in September 30, 2023 December 31, 2022 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets Cash and due from banks Level 1 $ 40,687 $ 40,687 $ 51,215 $ 51,215 Federal funds sold and other short-term investments Level 1 469,786 469,786 703,955 703,955 Securities held to maturity - U.S. Treasury Level 2 251,248 238,971 251,307 237,630 Securities held to maturity - tax-exempt and municipal Level 3 78,755 75,487 97,458 95,020 FHLB stock Level 3 10,211 10,211 10,211 10,211 Loans, net Level 2 1,274,262 1,249,319 1,162,135 1,131,387 Bank owned life insurance Level 3 54,043 54,043 53,345 53,345 Accrued interest receivable Level 2 9,957 9,957 7,606 7,606 Financial liabilities Deposits Level 2 (2,445,586 ) (2,447,649 ) (2,615,142 ) (2,615,860 ) Other borrowed funds Level 2 (30,000 ) (29,006 ) (30,000 ) (28,666 ) Accrued interest payable Level 2 (554 ) (554 ) (114 ) (114 ) Off-balance sheet credit-related items Loan commitments — — — — |
Note 5 - Derivatives (Tables)
Note 5 - Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Notional Amount Balance Sheet Location Fair Value September 30, 2023 Derivative assets Interest rate swaps $ 55,349 Other Assets $ 6,812 Derivative liabilities Interest rate swaps 55,349 Other Liabilities 6,812 Notional Amount Balance Sheet Location Fair Value December 31, 2022 Derivative assets Interest rate swaps $ 62,661 Other Assets $ 6,463 Derivative liabilities Interest rate swaps 62,661 Other Liabilities 6,463 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | September 30, December 31, 2023 2022 Noninterest-bearing demand $ 653,052 $ 834,879 Interest bearing demand 660,714 760,889 Savings and money market accounts 847,429 922,418 Certificates of deposit 284,391 96,956 $ 2,445,586 $ 2,615,142 |
Note 7 - Other Borrowed Funds (
Note 7 - Other Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | Weighted Advance Average Principal Terms Amount Range of Maturities Interest Rate September 30, 2023 Single maturity fixed rate advance $ 10,000 February 2024 2.63 % Putable advance 20,000 November 2024 1.81 % $ 30,000 Weighted Advance Average Principal Terms Amount Range of Maturities Interest Rate December 31, 2022 Single maturity fixed rate advance $ 10,000 February 2024 2.63 % Putable advance 20,000 November 2024 1.81 % $ 30,000 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | 2023 $ — 2024 30,000 2025 — 2026 — 2027 — Thereafter — $ 30,000 |
Note 8 - Earnings Per Common _2
Note 8 - Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Net income available to common shares $ 11,413 $ 10,045 $ 33,729 $ 22,614 Weighted average shares outstanding, including participating stock awards - Basic 34,291,487 34,251,792 34,293,531 34,253,459 Dilutive potential common shares: Stock options — — — — Weighted average shares outstanding - Diluted 34,291,487 34,251,792 34,293,531 34,253,459 Basic earnings per common share $ 0.33 $ 0.29 $ 0.98 $ 0.66 Diluted earnings per common share $ 0.33 $ 0.29 $ 0.98 $ 0.66 |
Note 9 - Federal Income Taxes (
Note 9 - Federal Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Current $ 2,654 $ 2,436 $ 7,921 $ 4,787 Deferred 154 52 336 585 $ 2,808 $ 2,488 $ 8,257 $ 5,372 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Statutory rate 21 % 21 % 21 % 21 % Statutory rate applied to income before taxes $ 2,986 $ 2,632 $ 8,817 $ 5,877 Deduct Tax-exempt interest income (114 ) (137 ) (362 ) (434 ) Bank-owned life insurance (51 ) (45 ) (139 ) (144 ) Other, net (13 ) 38 (59 ) 73 $ 2,808 $ 2,488 $ 8,257 $ 5,372 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, December 31, 2023 2022 Deferred tax assets Allowance for credit losses $ 3,570 $ 3,210 Net deferred loan fees — — Nonaccrual loan interest 13 12 Valuation allowance on other real estate owned — — Unrealized loss on securities available for sale and transferred to held to maturity 8,921 8,394 Other 388 257 Gross deferred tax assets 12,892 11,873 Valuation allowance — — Total net deferred tax assets 12,892 11,873 Deferred tax liabilities Depreciation (1,032 ) (1,098 ) Net deferred loan fees (15 ) (309 ) Prepaid expenses (303 ) (21 ) Other (1,316 ) (733 ) Gross deferred tax liabilities (2,666 ) (2,161 ) Net deferred tax asset $ 10,226 $ 9,712 |
Note 10 - Commitments and Off_2
Note 10 - Commitments and Off Balance-sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | September 30, December 31, 2023 2022 Commitments to extend credit $ 83,509 $ 77,384 Letters of credit 10,034 13,455 Unused lines of credit 715,072 745,674 |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Well Minimum Minimum Capital Capitalized Under Capital Adequacy With Prompt Corrective Actual Adequacy Capital Buffer Action Regulations Amount Ratio Amount Ratio Amount Ratio Amount Ratio September 30, 2023 CET1 capital (to risk weighted assets) Consolidated $ 303,438 17.7 % $ 77,330 4.5 % $ 120,292 7.0 % N/A N/A Bank 294,503 17.1 77,329 4.5 120,289 7.0 $ 111,697 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 303,438 17.7 103,107 6.0 146,068 8.5 N/A N/A Bank 294,503 17.1 103,105 6.0 146,065 8.5 137,473 8.0 Total capital (to risk weighted assets) Consolidated 320,439 18.7 137,476 8.0 180,437 10.5 N/A N/A Bank 311,504 18.1 137,473 8.0 180,434 10.5 171,842 10.0 Tier 1 capital (to average assets) Consolidated 303,438 10.9 111,285 4.0 N/A N/A N/A N/A Bank 294,503 10.6 111,280 4.0 N/A N/A 139,100 5.0 December 31, 2022 CET1 capital (to risk weighted assets) Consolidated $ 278,615 16.9 % $ 74,003 4.5 % $ 115,116 7.0 % N/A N/A Bank 270,274 16.4 73,992 4.5 115,098 7.0 $ 106,877 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 278,615 16.9 98,670 6.0 139,783 8.5 N/A N/A Bank 270,274 16.4 98,655 6.0 139,762 8.5 131,540 8.0 Total capital (to risk weighted assets) Consolidated 293,900 17.9 131,561 8.0 172,673 10.5 N/A N/A Bank 285,559 17.4 131,540 8.0 172,647 10.5 164,426 10.0 Tier 1 capital (to average assets) Consolidated 278,615 9.7 114,589 4.0 N/A N/A N/A N/A Bank 270,274 9.4 114,582 4.0 N/A N/A 143,227 5.0 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jan. 01, 2023 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Number Of Full Service Branch Offices | 26 | ||||||
Financing Receivable, Allowance for Credit Loss | $ 17,001,000 | $ 15,285,000 | $ 17,109,000 | $ 14,821,000 | $ 14,631,000 | $ 15,889,000 | |
Retained Earnings (Accumulated Deficit) | 83,349,000 | 59,036,000 | |||||
Deferred Income Tax Assets, Net | $ 10,226,000 | 9,712,000 | |||||
Number of Loan Segments | 8 | ||||||
Interest Receivable | $ 9,957,000 | 7,606,000 | |||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | ||||||
Increase (Decrease) in Loan, Held-for-Sale | 0 | 4,000 | |||||
Collateralized Mortgage-Backed Securities [Member] | |||||||
Credit Risk Derivatives, at Fair Value, Net | $ 2,000 | 0 | |||||
Interest Rate Swap [Member] | |||||||
Derivative, Number of Instruments Held | 2 | ||||||
Derivative Asset, Notional Amount | $ 110,700,000 | 125,300,000 | |||||
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 6,800,000 | 6,500,000 | |||||
Derivative Asset, Subject to Master Netting Arrangement, Liability Offset | 6,800,000 | 6,500,000 | |||||
Debt Securities [Member] | |||||||
Interest Receivable | 4,400,000 | 3,400,000 | |||||
Interest Rate Lock Commitments [Member] | |||||||
Credit Risk Derivatives, at Fair Value, Net | 2,000 | 0 | |||||
Loans and Finance Receivables [Member] | |||||||
Interest Receivable | 4,800,000 | 4,000,000 | |||||
Minimum [Member] | |||||||
Peer Group Assets | 1,000,000,000 | ||||||
Maximum [Member] | |||||||
Peer Group Assets | $ 3,000,000,000 | ||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||
Financing Receivable, Allowance for Credit Loss | $ 1,476,000 | $ 1,500,000 | |||||
Off-Balance-Sheet, Credit Loss, Liability | 62,000 | ||||||
Retained Earnings (Accumulated Deficit) | 1,200,000 | ||||||
Deferred Income Tax Assets, Net | $ 323,000 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) | 3 Months Ended | 9 Months Ended | ||||
Jan. 01, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Proceeds From Sale Of Securities | $ 0 | $ 0 | $ 0 | $ 0 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 455 | 455 | 444 | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position | $ 501,217,000 | $ 501,217,000 | $ 464,449,000 | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | $ 42,561,000 | $ 42,561,000 | $ 40,143,000 | |||
Held-to-Maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 81 | 81 | 76 | |||
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Fair Value | $ 306,963,000 | $ 306,963,000 | $ 317,022,000 | |||
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | 15,600,000 | 15,600,000 | 16,530,000 | |||
Debt Securities, Available-for-Sale, Allowance for Credit Loss | 0 | 0 | ||||
Asset Pledged as Collateral [Member] | Public Deposits Letters Of Credit And For Other Purposes [Member] | ||||||
Debt Securities | 3,600,000 | 3,600,000 | 3,500,000 | |||
US Treasury Securities [Member] | ||||||
Number of Securities Reclassified | 10 | |||||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Amortized Cost | $ 123,500,000 | |||||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Unrealized Gain | $ 113,000 | |||||
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Fair Value | 238,972,000 | 238,972,000 | 237,630,000 | |||
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | $ 12,277,000 | $ 12,277,000 | $ 13,677,000 |
Note 2 - Securities - Amortized
Note 2 - Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Amortized cost | $ 545,834 | $ 539,318 |
Gross unrealized gains | 4 | 82 |
Gross unrealized losses | (42,561) | (40,143) |
Debt securities available for sale, at fair value | 503,277 | 499,257 |
Amortized cost | 330,003 | 348,765 |
Gross unrealized gains | 55 | 415 |
Gross unrealized losses | (15,600) | (16,530) |
Fair value | 314,458 | 332,650 |
Held-to-maturity, amortized cost, due in one year or less | 133,471 | |
Held-to-maturity, fair value, due in one year or less | 131,195 | |
Available-for-sale, amortized cost, due in one year or less | 96,702 | |
Available-for-sale, fair value, due in one year or less | 95,025 | |
Held-to-maturity, amortized cost, due from one to five years | 179,098 | |
Held-to-maturity, fair value, due from one to five years | 166,829 | |
Available-for-sale, amortized cost, due from one to five years | 304,828 | |
Available-for-sale, fair value, due from one to five years | 283,371 | |
Held-to-maturity, amortized cost, due from five to ten years | 17,434 | |
Held-to-maturity, fair value, due from five to ten years | 16,434 | |
Available-for-sale, amortized cost, due from five to ten years | 18,656 | |
Available-for-sale, fair value, due from five to ten years | 16,224 | |
Held-to-maturity, amortized cost, due after ten years | 0 | |
Held-to-maturity, fair value, due after ten years | 0 | |
Available-for-sale, amortized cost, due after ten years | 125,648 | |
Available-for-sale, fair value, due after ten years | 108,657 | |
Held-to-maturity, amortized cost | 330,003 | 348,765 |
Held-to-maturity, fair value | 314,458 | 332,650 |
Available-for-sale, amortized cost | 545,834 | 539,318 |
Available-for-sale, fair value | 503,277 | 499,257 |
US Treasury and Government [Member] | ||
Amortized cost | 255,887 | 240,921 |
Gross unrealized gains | 0 | 23 |
Gross unrealized losses | (15,774) | (16,310) |
Debt securities available for sale, at fair value | 240,113 | 224,634 |
Available-for-sale, amortized cost | 255,887 | 240,921 |
Available-for-sale, fair value | 240,113 | 224,634 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 127,040 | 128,165 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (17,078) | (14,347) |
Debt securities available for sale, at fair value | 109,962 | 113,818 |
Available-for-sale, amortized cost | 127,040 | 128,165 |
Available-for-sale, fair value | 109,962 | 113,818 |
Nontaxable Municipal Bonds [Member] | ||
Amortized cost | 34,614 | 37,198 |
Gross unrealized gains | 0 | 10 |
Gross unrealized losses | (1,365) | (498) |
Debt securities available for sale, at fair value | 33,249 | 36,710 |
Amortized cost | 78,755 | 97,458 |
Gross unrealized gains | 55 | 415 |
Gross unrealized losses | (3,323) | (2,853) |
Fair value | 75,487 | 95,020 |
Held-to-maturity, amortized cost | 78,755 | 97,458 |
Held-to-maturity, fair value | 75,487 | 95,020 |
Available-for-sale, amortized cost | 34,614 | 37,198 |
Available-for-sale, fair value | 33,249 | 36,710 |
Taxable Municipal Bonds [Member] | ||
Amortized cost | 116,132 | 120,647 |
Gross unrealized gains | 4 | 49 |
Gross unrealized losses | (7,927) | (8,525) |
Debt securities available for sale, at fair value | 108,209 | 112,171 |
Available-for-sale, amortized cost | 116,132 | 120,647 |
Available-for-sale, fair value | 108,209 | 112,171 |
Corporate Bonds And Other Debt Securities [Member] | ||
Amortized cost | 12,161 | 12,387 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (417) | (463) |
Debt securities available for sale, at fair value | 11,744 | 11,924 |
Available-for-sale, amortized cost | 12,161 | 12,387 |
Available-for-sale, fair value | 11,744 | 11,924 |
US Treasury Securities [Member] | ||
Amortized cost | 251,248 | 251,307 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (12,277) | (13,677) |
Fair value | 238,971 | 237,630 |
Held-to-maturity, amortized cost | 251,248 | 251,307 |
Held-to-maturity, fair value | $ 238,971 | $ 237,630 |
Note 2 - Securities - Schedule
Note 2 - Securities - Schedule of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Available-for-sale, fair value, less than 12 months | $ 91,154 | $ 322,393 |
Available-for-sale, accumulated loss, less than 12 months | (1,794) | (15,211) |
Available-for-sale, fair value, more than 12 months | 410,063 | 142,056 |
Available-for-sale, accumulated loss, more than 12 months | (40,767) | (24,932) |
Available-for-sale, fair value | 501,217 | 464,449 |
Available-for-sale, accumulated loss | (42,561) | (40,143) |
Held-to-maturity, fair value, less than 12 months | 14,869 | 295,301 |
Held-to-maturity, accumulated loss, less than 12 months | (206) | (15,991) |
Held-to-maturity, fair value, more than 12 months | 292,094 | 21,721 |
Held-to-maturity, accumulated loss, more than 12 months | (15,394) | (539) |
Held-for-maturity, fair value | 306,963 | 317,022 |
Held-for-sale, accumulated loss | (15,600) | (16,530) |
US Treasury and Government [Member] | ||
Available-for-sale, fair value, less than 12 months | 32,037 | 144,796 |
Available-for-sale, accumulated loss, less than 12 months | (293) | (6,230) |
Available-for-sale, fair value, more than 12 months | 208,077 | 66,008 |
Available-for-sale, accumulated loss, more than 12 months | (15,481) | (10,080) |
Available-for-sale, fair value | 240,114 | 210,804 |
Available-for-sale, accumulated loss | (15,774) | (16,310) |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale, fair value, less than 12 months | 27,594 | 64,427 |
Available-for-sale, accumulated loss, less than 12 months | (646) | (4,789) |
Available-for-sale, fair value, more than 12 months | 82,369 | 41,340 |
Available-for-sale, accumulated loss, more than 12 months | (16,432) | (9,558) |
Available-for-sale, fair value | 109,963 | 105,767 |
Available-for-sale, accumulated loss | (17,078) | (14,347) |
Nontaxable Municipal Bonds [Member] | ||
Available-for-sale, fair value, less than 12 months | 18,452 | 31,337 |
Available-for-sale, accumulated loss, less than 12 months | (692) | (498) |
Available-for-sale, fair value, more than 12 months | 14,796 | 0 |
Available-for-sale, accumulated loss, more than 12 months | (673) | 0 |
Available-for-sale, fair value | 33,248 | 31,337 |
Available-for-sale, accumulated loss | (1,365) | (498) |
Held-to-maturity, fair value, less than 12 months | 14,869 | 57,671 |
Held-to-maturity, accumulated loss, less than 12 months | (206) | (2,314) |
Held-to-maturity, fair value, more than 12 months | 53,122 | 21,721 |
Held-to-maturity, accumulated loss, more than 12 months | (3,117) | (539) |
Held-for-maturity, fair value | 67,991 | 79,392 |
Held-for-sale, accumulated loss | (3,323) | (2,853) |
Taxable Municipal Bonds [Member] | ||
Available-for-sale, fair value, less than 12 months | 12,611 | 71,165 |
Available-for-sale, accumulated loss, less than 12 months | (153) | (3,337) |
Available-for-sale, fair value, more than 12 months | 93,537 | 33,452 |
Available-for-sale, accumulated loss, more than 12 months | (7,774) | (5,188) |
Available-for-sale, fair value | 106,148 | 104,617 |
Available-for-sale, accumulated loss | (7,927) | (8,525) |
Corporate Bonds And Other Debt Securities [Member] | ||
Available-for-sale, fair value, less than 12 months | 460 | 10,668 |
Available-for-sale, accumulated loss, less than 12 months | (10) | (357) |
Available-for-sale, fair value, more than 12 months | 11,284 | 1,256 |
Available-for-sale, accumulated loss, more than 12 months | (407) | (106) |
Available-for-sale, fair value | 11,744 | 11,924 |
Available-for-sale, accumulated loss | (417) | (463) |
US Treasury Securities [Member] | ||
Held-to-maturity, fair value, less than 12 months | 0 | 237,630 |
Held-to-maturity, accumulated loss, less than 12 months | 0 | (13,677) |
Held-to-maturity, fair value, more than 12 months | 238,972 | 0 |
Held-to-maturity, accumulated loss, more than 12 months | (12,277) | 0 |
Held-for-maturity, fair value | 238,972 | 237,630 |
Held-for-sale, accumulated loss | $ (12,277) | $ (13,677) |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $ 1,400,000 | $ 1,400,000 | $ 1,300,000 | ||
Loans and Leases Receivable, Deferred Income | 1,500,000 | 1,500,000 | $ 1,400,000 | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | $ 0 | |||
Financing Receivable, Modifications, Number of Loans | 37 | ||||
Financing Receivable, Modified, Subsequent Default | $ 0 | $ 0 | |||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Loans | 1 | 3 | |||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 584,000 | ||||
Financing Receivable, Write Down on Financing Receivable | $ 0 | ||||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Loans | 1 | 1 | 31 | 2 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 278,000 | $ 377,000 | |||
Financing Receivable, Write Down on Financing Receivable | $ 0 | $ 0 | |||
Consumer and Commercial Portfolio Segments [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 618,000 | ||||
Financing Receivable, Write Down on Financing Receivable | $ 0 |
Note 3 - Loans - Schedule of Lo
Note 3 - Loans - Schedule of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Total loans | $ 1,291,290 | $ 1,177,748 | ||||
Allowance for credit losses | (17,001) | $ (17,109) | (15,285) | $ (14,821) | $ (14,631) | $ (15,889) |
Net loans | 1,274,289 | 1,162,463 | ||||
Commercial Portfolio Segment [Member] | ||||||
Total loans | 488,224 | 441,716 | ||||
Allowance for credit losses | (6,621) | (7,011) | (5,596) | (5,610) | (5,256) | (5,176) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Total loans | 567,285 | 537,603 | ||||
Allowance for credit losses | (7,092) | (6,928) | (7,180) | (6,880) | (7,022) | (8,051) |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||||||
Total loans | 5,040 | 7,234 | ||||
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | ||||||
Total loans | 800 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||||||
Total loans | 37,084 | 36,270 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||||||
Total loans | 89 | 103 | ||||
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||||||
Total loans | 116,407 | 112,791 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||||||
Total loans | 257,673 | 259,281 | ||||
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||||||
Total loans | 150,192 | 121,924 | ||||
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||||||
Total loans | 800 | 0 | ||||
Consumer Portfolio Segment [Member] | ||||||
Total loans | 235,781 | 198,429 | ||||
Allowance for credit losses | (3,260) | $ (3,099) | (2,458) | $ (2,312) | $ (2,316) | $ (2,633) |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||||||
Total loans | 180,420 | 139,148 | ||||
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||||||
Total loans | 113 | 121 | ||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||||||
Total loans | 51,798 | 56,321 | ||||
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||||||
Total loans | $ 3,450 | $ 2,839 |
Note 3 - Loans - Allowance for
Note 3 - Loans - Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Balance | $ 17,109 | $ 14,631 | $ 15,285 | $ 15,889 | |
Charge-offs | (41) | (46) | (84) | (141) | |
Recoveries | 83 | 236 | 174 | 573 | |
Provision for credit losses (1) | [1] | (150) | 0 | 150 | (1,500) |
Balance | 17,001 | 14,821 | 17,001 | 14,821 | |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Balance | 1,476 | ||||
Commercial Portfolio Segment [Member] | |||||
Balance | 7,011 | 5,256 | 5,596 | 5,176 | |
Charge-offs | 0 | 0 | 0 | (38) | |
Recoveries | 8 | 175 | 24 | 185 | |
Provision for credit losses (1) | [1] | (398) | 179 | (298) | 287 |
Balance | 6,621 | 5,610 | 6,621 | 5,610 | |
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Balance | 1,299 | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 6,928 | 7,022 | 7,180 | 8,051 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 50 | 5 | 56 | 276 | |
Provision for credit losses (1) | [1] | 114 | (147) | 68 | (1,447) |
Balance | 7,092 | 6,880 | 7,092 | 6,880 | |
Commercial Real Estate Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Balance | (212) | ||||
Consumer Portfolio Segment [Member] | |||||
Balance | 3,099 | 2,316 | 2,458 | 2,633 | |
Charge-offs | (41) | (46) | (84) | (103) | |
Recoveries | 25 | 56 | 94 | 112 | |
Provision for credit losses (1) | [1] | 177 | (14) | 403 | (330) |
Balance | 3,260 | 2,312 | 3,260 | 2,312 | |
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Balance | 389 | ||||
Unallocated Financing Receivables [Member] | |||||
Balance | 71 | 37 | 51 | 29 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision for credit losses (1) | [1] | (43) | (18) | (23) | (10) |
Balance | $ 28 | $ 19 | 28 | $ 19 | |
Unallocated Financing Receivables [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Balance | $ 0 | ||||
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |
Note 3 - Loans - Gross Chargeof
Note 3 - Loans - Gross Chargeoffs by Origination Year (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Chargeoffs, originated current year | $ 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 84 | |||
Charge-offs | $ 41 | $ 46 | 84 | $ 141 |
Commercial Portfolio Segment [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | 0 | 0 | 38 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | 0 | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Consumer Portfolio Segment [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 84 | |||
Charge-offs | $ 41 | $ 46 | 84 | $ 103 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 0 | |||
Charge-offs | 0 | |||
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||||
Chargeoffs, originated current year | 0 | |||
Chargeoffs, originated prior year | 0 | |||
Chargeoffs, originated two years prior | 0 | |||
Chargeoffs, originated three years prior | 0 | |||
Chargeoffs, originated four years prior | 0 | |||
Chargeoffs, originated in prior years | 0 | |||
Chargeoffs, revolving | 84 | |||
Charge-offs | $ 84 |
Note 3 - Loans - Schedule of Co
Note 3 - Loans - Schedule of Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Total loans | $ 1,291,290 | $ 1,177,748 | ||||
Allowance for credit loss | 17,001 | $ 17,109 | 15,285 | $ 14,821 | $ 14,631 | $ 15,889 |
Real Estate [Member] | ||||||
Total loans | 1,453 | |||||
Other Collateral Loan [Member] | ||||||
Total loans | 0 | |||||
Collateral Pledged [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Portfolio Segment [Member] | ||||||
Total loans | 488,224 | 441,716 | ||||
Allowance for credit loss | 6,621 | 7,011 | 5,596 | 5,610 | 5,256 | 5,176 |
Commercial Portfolio Segment [Member] | Real Estate [Member] | ||||||
Total loans | 584 | |||||
Commercial Portfolio Segment [Member] | Other Collateral Loan [Member] | ||||||
Total loans | 0 | |||||
Commercial Portfolio Segment [Member] | Collateral Pledged [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Total loans | 567,285 | 537,603 | ||||
Allowance for credit loss | 7,092 | 6,928 | 7,180 | 6,880 | 7,022 | 8,051 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||||||
Total loans | 5,040 | 7,234 | ||||
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | ||||||
Total loans | 800 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||||||
Total loans | 37,084 | 36,270 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||||||
Total loans | 89 | 103 | ||||
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||||||
Total loans | 116,407 | 112,791 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||||||
Total loans | 257,673 | 259,281 | ||||
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||||||
Total loans | 150,192 | 121,924 | ||||
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||||||
Total loans | 800 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||
Total loans | 869 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Residential Developed [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Unsecured to Residential Developers [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Vacant and Unimproved [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Commercial Development [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Residential Improved [Member] | ||||||
Total loans | 27 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Commercial Improved [Member] | ||||||
Total loans | 296 | |||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Manufacturing and Industrial [Member] | ||||||
Total loans | 546 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Residential Developed [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Unsecured to Residential Developers [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Vacant and Unimproved [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Commercial Development [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Residential Improved [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Commercial Improved [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Manufacturing and Industrial [Member] | ||||||
Total loans | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Residential Developed [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Unsecured to Residential Developers [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Vacant and Unimproved [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Commercial Development [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Residential Improved [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Commercial Improved [Member] | ||||||
Allowance for credit loss | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Manufacturing and Industrial [Member] | ||||||
Allowance for credit loss | 0 | |||||
Consumer Portfolio Segment [Member] | ||||||
Total loans | 235,781 | 198,429 | ||||
Allowance for credit loss | 3,260 | $ 3,099 | 2,458 | $ 2,312 | $ 2,316 | $ 2,633 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||||||
Total loans | 180,420 | 139,148 | ||||
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||||||
Total loans | 113 | 121 | ||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||||||
Total loans | 51,798 | 56,321 | ||||
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||||||
Total loans | 3,450 | $ 2,839 | ||||
Consumer Portfolio Segment [Member] | Real Estate [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Unsecured Financing Receivable [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Home Equity Loan [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Other Financing Receivables [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Residential Mortgage [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Unsecured Financing Receivable [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Home Equity Loan [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Other Financing Receivables [Member] | ||||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | ||||||
Allowance for credit loss | 0 | |||||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Residential Mortgage [Member] | ||||||
Allowance for credit loss | 0 | |||||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Unsecured Financing Receivable [Member] | ||||||
Allowance for credit loss | 0 | |||||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Home Equity Loan [Member] | ||||||
Allowance for credit loss | 0 | |||||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Other Financing Receivables [Member] | ||||||
Allowance for credit loss | $ 0 |
Note 3 - Loans - Allowance fo_2
Note 3 - Loans - Allowance for Credit Loss and Recorded Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Individually reviewed for impairment, allowance for credit loss | $ 295 | |||||
Collectively evaluated for impairment, allowance for credit loss | 14,990 | |||||
Total ending allowance balance | $ 17,001 | $ 17,109 | 15,285 | $ 14,821 | $ 14,631 | $ 15,889 |
Individually reviewed for impairment | 7,007 | |||||
Collectively evaluated for impairment | 1,170,741 | |||||
Total ending loans balance | 1,291,290 | 1,177,748 | ||||
Commercial Portfolio Segment [Member] | ||||||
Individually reviewed for impairment, allowance for credit loss | 55 | |||||
Collectively evaluated for impairment, allowance for credit loss | 5,541 | |||||
Total ending allowance balance | 6,621 | 7,011 | 5,596 | 5,610 | 5,256 | 5,176 |
Individually reviewed for impairment | 3,603 | |||||
Collectively evaluated for impairment | 438,113 | |||||
Total ending loans balance | 488,224 | 441,716 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Individually reviewed for impairment, allowance for credit loss | 20 | |||||
Collectively evaluated for impairment, allowance for credit loss | 7,160 | |||||
Total ending allowance balance | 7,092 | 6,928 | 7,180 | 6,880 | 7,022 | 8,051 |
Individually reviewed for impairment | 518 | |||||
Collectively evaluated for impairment | 537,085 | |||||
Total ending loans balance | 567,285 | 537,603 | ||||
Consumer Portfolio Segment [Member] | ||||||
Individually reviewed for impairment, allowance for credit loss | 220 | |||||
Collectively evaluated for impairment, allowance for credit loss | 2,238 | |||||
Total ending allowance balance | 3,260 | 3,099 | 2,458 | 2,312 | 2,316 | 2,633 |
Individually reviewed for impairment | 2,886 | |||||
Collectively evaluated for impairment | 195,543 | |||||
Total ending loans balance | 235,781 | 198,429 | ||||
Unallocated Financing Receivables [Member] | ||||||
Individually reviewed for impairment, allowance for credit loss | 0 | |||||
Collectively evaluated for impairment, allowance for credit loss | 51 | |||||
Total ending allowance balance | $ 28 | $ 71 | 51 | $ 19 | $ 37 | $ 29 |
Individually reviewed for impairment | 0 | |||||
Collectively evaluated for impairment | 0 | |||||
Total ending loans balance | $ 0 |
Note 3 - Loans - Loans Individu
Note 3 - Loans - Loans Individually Evaluated for Impairment (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Unpaid principal, no related allowance | $ 3,309 |
Recorded investment, no related allowance | 3,309 |
Average recorded investment, no related allowance | 2,371 |
Unpaid principal, with related allowance | 3,698 |
Recorded investment, with related allowance | 3,698 |
Allowance allocated | 295 |
Average recorded investment, with related allowance | 3,745 |
Unpaid principal | 7,007 |
Recorded investment | 7,007 |
Average recorded investment | 6,116 |
Commercial Portfolio Segment [Member] | |
Unpaid principal, no related allowance | 3,278 |
Recorded investment, no related allowance | 3,278 |
Average recorded investment, no related allowance | 2,338 |
Unpaid principal, with related allowance | 325 |
Recorded investment, with related allowance | 325 |
Allowance allocated | 55 |
Average recorded investment, with related allowance | 365 |
Commercial Real Estate Portfolio Segment [Member] | |
Unpaid principal, no related allowance | 31 |
Recorded investment, no related allowance | 31 |
Average recorded investment, no related allowance | 33 |
Unpaid principal, with related allowance | 487 |
Recorded investment, with related allowance | 487 |
Allowance allocated | 20 |
Average recorded investment, with related allowance | 498 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | |
Unpaid principal, no related allowance | 31 |
Recorded investment, no related allowance | 31 |
Average recorded investment, no related allowance | 33 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | |
Unpaid principal, with related allowance | 307 |
Recorded investment, with related allowance | 307 |
Allowance allocated | 9 |
Average recorded investment, with related allowance | 313 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | |
Unpaid principal, with related allowance | 180 |
Recorded investment, with related allowance | 180 |
Allowance allocated | 11 |
Average recorded investment, with related allowance | 185 |
Consumer Portfolio Segment [Member] | |
Unpaid principal, no related allowance | 0 |
Recorded investment, no related allowance | 0 |
Average recorded investment, no related allowance | 0 |
Unpaid principal, with related allowance | 2,886 |
Recorded investment, with related allowance | 2,886 |
Allowance allocated | 220 |
Average recorded investment, with related allowance | 2,882 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | |
Unpaid principal, with related allowance | 2,653 |
Recorded investment, with related allowance | 2,653 |
Allowance allocated | 202 |
Average recorded investment, with related allowance | 2,619 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | |
Unpaid principal, with related allowance | 29 |
Recorded investment, with related allowance | 29 |
Allowance allocated | 2 |
Average recorded investment, with related allowance | 29 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |
Unpaid principal, with related allowance | 204 |
Recorded investment, with related allowance | 204 |
Allowance allocated | 16 |
Average recorded investment, with related allowance | $ 234 |
Note 3 - Loans - Schedule of No
Note 3 - Loans - Schedule of Nonaccrual Financing Receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Nonaccrual with no allowance | $ 0 | $ 0 |
Nonaccrual with allowance | 1 | 78 |
Nonaccrual | 1 | 78 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 1 | 78 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 1 | 78 |
Nonaccrual | 1 | 78 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 1 | 78 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 1 | 78 |
Nonaccrual | 1 | 78 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 1 | 78 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | $ 0 | $ 0 |
Note 3 - Loans - Past Due Recei
Note 3 - Loans - Past Due Receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Total loans | $ 1,291,290 | $ 1,177,748 |
Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 0 | 95 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 77 |
Financial Asset, Past Due [Member] | ||
Total loans | 0 | 172 |
Financial Asset, Not Past Due [Member] | ||
Total loans | 1,291,290 | 1,177,576 |
Commercial Portfolio Segment [Member] | ||
Total loans | 488,224 | 441,716 |
Commercial Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 488,224 | 441,716 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans | 567,285 | 537,603 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Total loans | 5,040 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Total loans | 37,084 | 36,270 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Total loans | 89 | 103 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Total loans | 116,407 | 112,791 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Total loans | 257,673 | 259,281 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 150,192 | 121,924 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Developed [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Development [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Developed [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Development [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Developed [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Commercial Development [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 567,285 | 537,532 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Developed [Member] | ||
Total loans | 5,040 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 37,084 | 36,270 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Commercial Development [Member] | ||
Total loans | 89 | 103 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Improved [Member] | ||
Total loans | 116,407 | 112,791 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 257,673 | 259,210 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 150,192 | 121,924 |
Consumer Portfolio Segment [Member] | ||
Total loans | 235,781 | 198,429 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 113 | 121 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Total loans | 180,420 | 139,148 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Total loans | 51,798 | 56,321 |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Total loans | 3,450 | 2,839 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 0 | 24 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 0 | 24 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 101 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 0 | 24 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 235,781 | 198,328 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 113 | 121 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 180,420 | 139,071 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 51,798 | 56,297 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | $ 3,450 | $ 2,839 |
Note 3 - Loans - Modified Finan
Note 3 - Loans - Modified Financing Receivables (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 | Sep. 30, 2023 USD ($) | Sep. 30, 2022 | |
Number of loans | 37 | |||
Recorded balance | $ 3,449 | $ 3,449 | ||
Percentage of total loans | 0.27% | |||
Accruing - nonaccrual at modification | 0 | $ 0 | ||
Accruing - accruing at modification | 3,449 | 3,449 | ||
Accruing - upgraded to accruing after six consecutive payments | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment, Accruing | $ 3,449 | $ 3,449 | ||
Commercial Portfolio Segment [Member] | ||||
Number of loans | 1 | 3 | ||
Recorded balance | $ 266 | $ 266 | ||
Percentage of total loans | 0.05% | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Number of loans | 3 | |||
Recorded balance | $ 493 | $ 493 | ||
Percentage of total loans | 0.09% | |||
Consumer Portfolio Segment [Member] | ||||
Number of loans | 1 | 1 | 31 | 2 |
Recorded balance | $ 2,690 | $ 2,690 | ||
Percentage of total loans | 1.14% |
Note 3 - Loans - Credit Quality
Note 3 - Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Total loans | $ 1,291,290 | $ 1,177,748 |
Commercial Portfolio Segment [Member] | ||
Originated current year | 98,030 | |
Originated prior year | 98,074 | |
Originated two years prior | 38,940 | |
Originated three years prior | 20,740 | |
Originated four years prior | 20,489 | |
Originated years prior | 67,244 | |
Revolving | 144,707 | |
Total loans | 488,224 | 441,716 |
Commercial Portfolio Segment [Member] | Excellent [Member] | ||
Total loans | 15,040 | |
Commercial Portfolio Segment [Member] | Above Average [Member] | ||
Total loans | 21,451 | |
Commercial Portfolio Segment [Member] | Good Quality [Member] | ||
Total loans | 175,762 | |
Commercial Portfolio Segment [Member] | Acceptable Risk [Member] | ||
Originated current year | 55,344 | |
Originated prior year | 40,840 | |
Originated two years prior | 22,181 | |
Originated three years prior | 14,968 | |
Originated four years prior | 7,699 | |
Originated years prior | 24,553 | |
Revolving | 72,555 | |
Total loans | 238,140 | 220,987 |
Commercial Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Originated current year | 0 | |
Originated prior year | 415 | |
Originated two years prior | 59 | |
Originated three years prior | 284 | |
Originated four years prior | 72 | |
Originated years prior | 1,232 | |
Revolving | 5,820 | |
Total loans | 7,882 | 8,309 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Originated current year | 584 | |
Originated prior year | 0 | |
Originated two years prior | 20 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 25 | |
Revolving | 0 | |
Total loans | 629 | 167 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Loss [Member] | ||
Total loans | 0 | |
Commercial Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | ||
Originated current year | 42,102 | |
Originated prior year | 56,819 | |
Originated two years prior | 16,680 | |
Originated three years prior | 5,488 | |
Originated four years prior | 12,718 | |
Originated years prior | 41,434 | |
Revolving | 66,332 | |
Total loans | 241,573 | |
Consumer Portfolio Segment [Member] | ||
Originated current year | 59,774 | |
Originated prior year | 41,821 | |
Originated two years prior | 27,154 | |
Originated three years prior | 10,524 | |
Originated four years prior | 5,218 | |
Originated years prior | 31,264 | |
Revolving | 60,026 | |
Total loans | 235,781 | 198,429 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Originated current year | 57,860 | |
Originated prior year | 40,375 | |
Originated two years prior | 26,324 | |
Originated three years prior | 9,800 | |
Originated four years prior | 4,936 | |
Originated years prior | 29,136 | |
Revolving | 11,989 | |
Total loans | 180,420 | 139,148 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 12 | |
Originated four years prior | 13 | |
Originated years prior | 0 | |
Revolving | 88 | |
Total loans | 113 | 121 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Originated current year | 256 | |
Originated prior year | 701 | |
Originated two years prior | 223 | |
Originated three years prior | 461 | |
Originated four years prior | 219 | |
Originated years prior | 1,989 | |
Revolving | 47,949 | |
Total loans | 51,798 | 56,321 |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Originated current year | 1,658 | |
Originated prior year | 745 | |
Originated two years prior | 607 | |
Originated three years prior | 251 | |
Originated four years prior | 50 | |
Originated years prior | 139 | |
Revolving | 0 | |
Total loans | 3,450 | 2,839 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Residential Mortgage [Member] | ||
Originated current year | 57,860 | |
Originated prior year | 40,375 | |
Originated two years prior | 26,324 | |
Originated three years prior | 9,800 | |
Originated four years prior | 4,936 | |
Originated years prior | 29,136 | |
Revolving | 11,989 | |
Total loans | 180,420 | 139,071 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Unsecured Financing Receivable [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 12 | |
Originated four years prior | 13 | |
Originated years prior | 0 | |
Revolving | 88 | |
Total loans | 113 | 121 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Loan [Member] | ||
Originated current year | 256 | |
Originated prior year | 701 | |
Originated two years prior | 223 | |
Originated three years prior | 461 | |
Originated four years prior | 219 | |
Originated years prior | 1,989 | |
Revolving | 47,949 | |
Total loans | 51,798 | 56,321 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Other Financing Receivables [Member] | ||
Originated current year | 1,658 | |
Originated prior year | 745 | |
Originated two years prior | 607 | |
Originated three years prior | 251 | |
Originated four years prior | 50 | |
Originated years prior | 139 | |
Revolving | 0 | |
Total loans | 3,450 | 2,839 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Residential Mortgage [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Unsecured Financing Receivable [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Loan [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Other Financing Receivables [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans | 567,285 | 537,603 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Originated current year | 399 | |
Originated prior year | 612 | |
Originated two years prior | 679 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 3,350 | |
Total loans | 5,040 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 800 | |
Revolving | 0 | |
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 3,329 | |
Originated prior year | 7,340 | |
Originated two years prior | 10,815 | |
Originated three years prior | 14,861 | |
Originated four years prior | 157 | |
Originated years prior | 193 | |
Revolving | 389 | |
Total loans | 37,084 | 36,270 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 89 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 89 | 103 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Originated current year | 5,609 | |
Originated prior year | 12,873 | |
Originated two years prior | 34,640 | |
Originated three years prior | 10,592 | |
Originated four years prior | 7,343 | |
Originated years prior | 20,679 | |
Revolving | 24,671 | |
Total loans | 116,407 | 112,791 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Originated current year | 19,155 | |
Originated prior year | 56,453 | |
Originated two years prior | 68,349 | |
Originated three years prior | 50,467 | |
Originated four years prior | 33,351 | |
Originated years prior | 20,873 | |
Revolving | 9,025 | |
Total loans | 257,673 | 259,281 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 23,944 | |
Originated prior year | 61,545 | |
Originated two years prior | 18,117 | |
Originated three years prior | 14,275 | |
Originated four years prior | 9,881 | |
Originated years prior | 19,885 | |
Revolving | 2,545 | |
Total loans | 150,192 | 121,924 |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Commercial Development [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Residential Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Commercial Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Vacant and Unimproved [Member] | ||
Total loans | 1,231 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Commercial Development [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Residential Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Commercial Improved [Member] | ||
Total loans | 17,802 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 11,422 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Vacant and Unimproved [Member] | ||
Total loans | 18,406 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Commercial Development [Member] | ||
Total loans | 103 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Residential Improved [Member] | ||
Total loans | 25,585 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Commercial Improved [Member] | ||
Total loans | 83,769 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 32,977 | |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Residential Developed [Member] | ||
Originated current year | 399 | |
Originated prior year | 612 | |
Originated two years prior | 679 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 3,350 | |
Total loans | 5,040 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 1,548 | |
Originated prior year | 2,498 | |
Originated two years prior | 2,671 | |
Originated three years prior | 7,987 | |
Originated four years prior | 157 | |
Originated years prior | 110 | |
Revolving | 239 | |
Total loans | 15,210 | 16,633 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Residential Improved [Member] | ||
Originated current year | 974 | |
Originated prior year | 553 | |
Originated two years prior | 33,253 | |
Originated three years prior | 1,795 | |
Originated four years prior | 7,092 | |
Originated years prior | 15,454 | |
Revolving | 23,882 | |
Total loans | 83,003 | 87,176 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Commercial Improved [Member] | ||
Originated current year | 6,353 | |
Originated prior year | 34,017 | |
Originated two years prior | 16,729 | |
Originated three years prior | 31,082 | |
Originated four years prior | 16,674 | |
Originated years prior | 2,080 | |
Revolving | 443 | |
Total loans | 107,378 | 151,641 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 16,712 | |
Originated prior year | 26,539 | |
Originated two years prior | 12,692 | |
Originated three years prior | 7,603 | |
Originated four years prior | 5,641 | |
Originated years prior | 13,138 | |
Revolving | 1,665 | |
Total loans | 83,990 | 73,566 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 1,332 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 1,332 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Residential Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 28 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 28 | 30 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Commercial Improved [Member] | ||
Originated current year | 269 | |
Originated prior year | 26 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 2,164 | |
Originated years prior | 3,098 | |
Revolving | 0 | |
Total loans | 5,557 | 5,762 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 170 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 305 | |
Revolving | 0 | |
Total loans | 475 | 1,646 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Residential Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 296 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 296 | 307 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 2,618 | |
Revolving | 0 | |
Total loans | 2,618 | 2,313 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Residential Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Commercial Development [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Residential Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Commercial Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 800 | |
Revolving | 0 | |
Total loans | 800 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 449 | |
Originated prior year | 4,842 | |
Originated two years prior | 8,144 | |
Originated three years prior | 6,874 | |
Originated four years prior | 0 | |
Originated years prior | 83 | |
Revolving | 150 | |
Total loans | 20,542 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 89 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 89 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Residential Improved [Member] | ||
Originated current year | 4,635 | |
Originated prior year | 12,320 | |
Originated two years prior | 1,359 | |
Originated three years prior | 8,797 | |
Originated four years prior | 251 | |
Originated years prior | 5,225 | |
Revolving | 789 | |
Total loans | 33,376 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Commercial Improved [Member] | ||
Originated current year | 12,533 | |
Originated prior year | 22,410 | |
Originated two years prior | 51,324 | |
Originated three years prior | 19,385 | |
Originated four years prior | 14,513 | |
Originated years prior | 15,695 | |
Revolving | 8,582 | |
Total loans | 144,442 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 7,062 | |
Originated prior year | 35,006 | |
Originated two years prior | 5,425 | |
Originated three years prior | 6,672 | |
Originated four years prior | 4,240 | |
Originated years prior | 3,824 | |
Revolving | 880 | |
Total loans | 63,109 | |
Commercial Segment [Member] | ||
Originated current year | 150,466 | |
Originated prior year | 236,986 | |
Originated two years prior | 171,540 | |
Originated three years prior | 110,935 | |
Originated four years prior | 71,221 | |
Originated years prior | 129,674 | |
Revolving | 184,687 | |
Total loans | 1,055,509 | 979,319 |
Commercial Segment [Member] | Excellent [Member] | ||
Total loans | 15,040 | |
Commercial Segment [Member] | Above Average [Member] | ||
Total loans | 51,906 | |
Commercial Segment [Member] | Good Quality [Member] | ||
Total loans | 336,602 | |
Commercial Segment [Member] | Acceptable Risk [Member] | ||
Originated current year | 81,330 | |
Originated prior year | 105,059 | |
Originated two years prior | 88,205 | |
Originated three years prior | 63,435 | |
Originated four years prior | 37,263 | |
Originated years prior | 55,335 | |
Revolving | 102,134 | |
Total loans | 532,761 | 557,237 |
Commercial Segment [Member] | Marginally Acceptable [Member] | ||
Originated current year | 1,771 | |
Originated prior year | 441 | |
Originated two years prior | 87 | |
Originated three years prior | 284 | |
Originated four years prior | 2,236 | |
Originated years prior | 4,635 | |
Revolving | 5,820 | |
Total loans | 15,274 | 15,747 |
Commercial Segment [Member] | Substandard [Member] | ||
Originated current year | 584 | |
Originated prior year | 0 | |
Originated two years prior | 316 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 2,643 | |
Revolving | 0 | |
Total loans | 3,543 | 2,787 |
Commercial Segment [Member] | Doubtful [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Segment [Member] | Loss [Member] | ||
Total loans | $ 0 | |
Commercial Segment [Member] | Excellent, Above Average, and Good Quality [Member] | ||
Originated current year | 66,781 | |
Originated prior year | 131,486 | |
Originated two years prior | 82,932 | |
Originated three years prior | 47,216 | |
Originated four years prior | 31,722 | |
Originated years prior | 67,061 | |
Revolving | 76,733 | |
Total loans | $ 503,931 |
Note 4 - Fair Value - Assets an
Note 4 - Fair Value - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt securities available for sale, at fair value | $ 503,277 | $ 499,257 |
Fair Value, Recurring [Member] | ||
Loans held for sale | 0 | 215 |
Interest rate swaps | 6,812 | 6,463 |
Total assets measured at fair value on recurring basis | 511,349 | 507,239 |
Interest rate swaps | (6,812) | (6,463) |
Total liabilities measured at fair value on recurring basis | (6,812) | (6,463) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale, at fair value | 0 | |
Loans held for sale | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total assets measured at fair value on recurring basis | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total liabilities measured at fair value on recurring basis | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale, at fair value | 240,113 | |
Loans held for sale | 0 | 215 |
Interest rate swaps | 6,812 | 6,463 |
Total assets measured at fair value on recurring basis | 511,349 | 507,239 |
Interest rate swaps | (6,812) | (6,463) |
Total liabilities measured at fair value on recurring basis | (6,812) | (6,463) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale, at fair value | 0 | |
Loans held for sale | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total assets measured at fair value on recurring basis | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total liabilities measured at fair value on recurring basis | 0 | 0 |
US Treasury and Government [Member] | ||
Debt securities available for sale, at fair value | 240,113 | 224,634 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale, at fair value | 240,113 | 224,634 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale, at fair value | 0 | |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale, at fair value | 224,634 | |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale, at fair value | 0 | |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, at fair value | 109,962 | 113,818 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale, at fair value | 109,962 | 113,818 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale, at fair value | 109,962 | 113,818 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Nontaxable Municipal Bonds [Member] | ||
Debt securities available for sale, at fair value | 33,249 | 36,710 |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale, at fair value | 33,249 | 36,710 |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale, at fair value | 33,249 | 36,710 |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Taxable Municipal Bonds [Member] | ||
Debt securities available for sale, at fair value | 108,209 | 112,171 |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale, at fair value | 108,209 | 112,171 |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale, at fair value | 108,209 | 112,171 |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Corporate Bonds And Other Debt Securities [Member] | ||
Debt securities available for sale, at fair value | 11,744 | 11,924 |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale, at fair value | 11,744 | 11,924 |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale, at fair value | 11,744 | 11,924 |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale, at fair value | 0 | 0 |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | ||
Other equity securities | 1,260 | 1,304 |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Other equity securities | 0 | 0 |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Other equity securities | 1,260 | 1,304 |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other equity securities | $ 0 | $ 0 |
Note 4 - Fair Value - Assets Me
Note 4 - Fair Value - Assets Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Impaired Loans [Member] | ||
Loans, fair value | $ 328 | |
Collateral Pledged [Member] | ||
Loans, fair value | $ 27 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | ||
Loans, fair value | 328 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Loans, fair value | $ 328 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | ||
Loans, fair value | 27 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, fair value | $ 27 |
Note 4 - Fair Value - Valuation
Note 4 - Fair Value - Valuation Techniques (Details) $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Collateral Pledged [Member] | ||
Loans, fair value | $ 27 | |
Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | Collateral Pledged [Member] | ||
Loans receivable, measurement input | 0.020 | |
Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | Collateral Pledged [Member] | ||
Loans receivable, measurement input | 0.410 | |
Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Minimum [Member] | Collateral Pledged [Member] | ||
Loans receivable, measurement input | 7.5 | |
Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Maximum [Member] | Collateral Pledged [Member] | ||
Loans receivable, measurement input | 8.5 | |
Impaired Loans [Member] | ||
Loans, fair value | $ 328 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | ||
Loans receivable, measurement input | 0.015 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | ||
Loans receivable, measurement input | 0.200 | |
Impaired Loans [Member] | Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Minimum [Member] | ||
Loans receivable, measurement input | 0.095 | |
Impaired Loans [Member] | Valuation, Income Approach [Member] | Measurement Input, Cap Rate [Member] | Maximum [Member] | ||
Loans receivable, measurement input | 0.110 |
Note 4 - Fair Value - Carrying
Note 4 - Fair Value - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Cash and due from banks | $ 40,687 | $ 51,215 |
Federal funds sold and other short-term investments | 469,786 | 703,955 |
Bank-owned life insurance | 54,043 | 53,345 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 51,215 | |
Federal funds sold and other short-term investments | 703,955 | |
FHLB stock | 10,211 | |
Loans, fair value | 1,162,135 | |
Bank-owned life insurance | 53,345 | |
Accrued interest receivable | 7,606 | |
Deposits | (2,615,142) | |
Other borrowed funds | (30,000) | |
Accrued interest payable | (114) | |
Off-balance sheet credit-related items | 0 | 0 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 51,215 | |
Federal funds sold and other short-term investments | 703,955 | |
FHLB stock | 10,211 | |
Loans, fair value | 1,131,387 | |
Bank-owned life insurance | 53,345 | |
Accrued interest receivable | 7,606 | |
Deposits | (2,615,860) | |
Other borrowed funds | (28,666) | |
Accrued interest payable | (114) | |
Off-balance sheet credit-related items | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and due from banks | 40,687 | |
Federal funds sold and other short-term investments | 469,786 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 40,687 | |
Federal funds sold and other short-term investments | 469,786 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Loans, fair value | 1,274,262 | |
Accrued interest receivable | 9,957 | |
Deposits | (2,445,586) | |
Other borrowed funds | (30,000) | |
Accrued interest payable | (554) | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | US Treasury and Government [Member] | ||
Securities held to maturity | 251,248 | 251,307 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans, fair value | 1,249,319 | |
Accrued interest receivable | 9,957 | |
Deposits | (2,447,649) | |
Other borrowed funds | (29,006) | |
Accrued interest payable | (554) | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | US Treasury and Government [Member] | ||
Securities held to maturity | 238,971 | 237,630 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
FHLB stock | 10,211 | |
Bank-owned life insurance | 54,043 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | Nontaxable Municipal Bonds [Member] | ||
Securities held to maturity | 78,755 | 97,458 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
FHLB stock | 10,211 | |
Bank-owned life insurance | 54,043 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Nontaxable Municipal Bonds [Member] | ||
Securities held to maturity | $ 75,487 | $ 95,020 |
Note 5 - Derivatives (Details T
Note 5 - Derivatives (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Derivative Liability | $ 0 | $ 0 |
Derivative Liability, Fair Value of Collateral | 1,700 | 1,700 |
Interest Rate Swap [Member] | ||
Derivative Asset, Notional Amount | 110,700 | 125,300 |
Other Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | 6,812 | 6,463 |
Other Assets [Member] | Interest Rate Swap [Member] | ||
Derivative Asset, Notional Amount | $ 55,349 | $ 62,661 |
Note 5 - Derivatives - Schedule
Note 5 - Derivatives - Schedule of Derivatives (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Derivative assets, notional amount | $ 110,700 | $ 125,300 |
Derivative assets, fair value | 6,800 | 6,500 |
Other Assets [Member] | ||
Derivative assets, notional amount | 55,349 | 62,661 |
Derivative assets, fair value | 6,812 | 6,463 |
Other Liabilities [Member] | ||
Derivative liabilities, notional amount | 55,349 | 62,661 |
Derivative liabilities, fair value | $ 6,812 | $ 6,463 |
Note 6 - Deposits (Details Text
Note 6 - Deposits (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Time Deposit Liability, Uninsured | $ 85.1 | $ 29.7 |
Note 6 - Deposits - Schedule of
Note 6 - Deposits - Schedule of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Noninterest-bearing | $ 653,052 | $ 834,879 |
Interest bearing demand | 660,714 | 760,889 |
Savings and money market accounts | 847,429 | 922,418 |
Certificates of deposit | 284,391 | 96,956 |
Total deposits | $ 2,445,586 | $ 2,615,142 |
Note 7 - Other Borrowed Funds_2
Note 7 - Other Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 463,500 | $ 446,100 | |
Advance from Federal Home Loan Bank | 30,000 | 30,000 | |
Financing Receivable, after Allowance for Credit Loss | 1,274,289 | 1,162,463 | |
Federal Reserve Bank Advances [Member] | |||
Short-Term Debt | 0 | 0 | |
Debt Instrument, Unused Borrowing Capacity, Amount | 1,300 | 5,500 | |
Federal Reserve Bank Advances [Member] | Asset Pledged as Collateral [Member] | |||
Financing Receivable, after Allowance for Credit Loss | 1,400 | 5,800 | |
Putable Advances [Member] | |||
Advance from Federal Home Loan Bank | 20,000 | $ 20,000 | |
Bank Term Funding Program [Member] | Federal Reserve Bank Advances [Member] | |||
Debt Instrument, Unused Borrowing Capacity, Amount | 634,400 | ||
Financing Receivable, after Allowance for Credit Loss | $ 0 | ||
Debt Instrument, Term (Year) | 1 year | ||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 0 |
Note 7 - Other Borrowed Funds -
Note 7 - Other Borrowed Funds - Federal Home Loan Bank Advances (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Advance from Federal Home Loan Bank | $ 30 | $ 30 |
Single Maturity Fixed Rate Advances [Member] | ||
Advance from Federal Home Loan Bank | $ 10 | $ 10 |
Maturities | 2024 | 2024 |
Weighted average interest rate | 2.63% | 2.63% |
Putable Advances [Member] | ||
Advance from Federal Home Loan Bank | $ 20 | $ 20 |
Maturities | 2024 | 2024 |
Weighted average interest rate | 1.81% | 1.81% |
Note 7 - Other Borrowed Funds_3
Note 7 - Other Borrowed Funds - Schedule of FHLB Advance Repayments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
2023 | $ 0 | |
2024 | 30,000 | |
2025 | 0 | |
2026 | 0 | |
2027 | 0 | |
Thereafter | 0 | |
Advance from Federal Home Loan Bank | $ 30,000 | $ 30,000 |
Note 8 - Earnings Per Common _3
Note 8 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Share-Based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 0 | 0 | 0 |
Note 8 - Earnings Per Common _4
Note 8 - Earnings Per Common Share - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income | $ 11,413 | $ 10,045 | $ 33,729 | $ 22,614 |
Weighted average shares outstanding, including participating stock awards - Basic (in shares) | 34,291,487 | 34,251,792 | 34,293,531 | 34,253,459 |
Stock options (in shares) | 0 | 0 | 0 | 0 |
Weighted average shares outstanding - Diluted (in shares) | 34,291,487 | 34,251,792 | 34,293,531 | 34,253,459 |
Basic earnings per common share (in dollars per share) | $ 0.33 | $ 0.29 | $ 0.98 | $ 0.66 |
Diluted earnings per common share (in dollars per share) | $ 0.33 | $ 0.29 | $ 0.98 | $ 0.66 |
Note 9 - Federal Income Taxes_2
Note 9 - Federal Income Taxes (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Note 9 - Federal Income Taxes -
Note 9 - Federal Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Current | $ 2,654 | $ 2,436 | $ 7,921 | $ 4,787 |
Deferred income tax expense | 154 | 52 | 336 | 585 |
Income Tax Expense (Benefit) | $ 2,808 | $ 2,488 | $ 8,257 | $ 5,372 |
Note 9 - Federal Income Taxes_3
Note 9 - Federal Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statutory rate | 21% | 21% | 21% | 21% |
Statutory rate applied to income before taxes | $ 2,986 | $ 2,632 | $ 8,817 | $ 5,877 |
Tax-exempt interest income | (114) | (137) | (362) | (434) |
Bank-owned life insurance | (51) | (45) | (139) | (144) |
Other, net | (13) | 38 | (59) | 73 |
Income Tax Expense (Benefit) | $ 2,808 | $ 2,488 | $ 8,257 | $ 5,372 |
Note 9 - Federal Income Taxes_4
Note 9 - Federal Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Allowance for credit losses | $ 3,570 | $ 3,210 |
Net deferred loan fees | 0 | 0 |
Nonaccrual loan interest | 13 | 12 |
Valuation allowance on other real estate owned | 0 | 0 |
Unrealized loss on securities available for sale and transferred to held to maturity | 8,921 | 8,394 |
Other | 388 | 257 |
Gross deferred tax assets | 12,892 | 11,873 |
Valuation allowance | 0 | 0 |
Total net deferred tax assets | 12,892 | 11,873 |
Depreciation | (1,032) | (1,098) |
Net deferred loan fees | (15) | (309) |
Prepaid expenses | (303) | (21) |
Other | (1,316) | (733) |
Gross deferred tax liabilities | (2,666) | (2,161) |
Net deferred tax asset | $ 10,226 | $ 9,712 |
Note 10 - Commitments and Off_3
Note 10 - Commitments and Off Balance-sheet Risk (Details Textual) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value Disclosure, off-Balance-Sheet Risks, Face Amount, Liability | $ 0 | $ 0 |
Commitment To Sell Mortgage Backed Securities [Member] | ||
Fair Value Disclosure, off-Balance-Sheet Risks, Face Amount, Liability | $ 250,000 | $ 0 |
Commitments to Make Loans at Fixed Rates | 39.10% | |
Other Liabilities [Member] | ||
Reserve for Unfunded Loan Commitments | $ 73,000 |
Note 10 - Commitments and Off_4
Note 10 - Commitments and Off Balance-sheet Risk - Schedule of Off Balance-sheet Risks (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Commitments to Extend Credit [Member] | ||
Off-balance sheet credit-related items | $ 83,509 | $ 77,384 |
Letter of Credit [Member] | ||
Off-balance sheet credit-related items | 10,034 | 13,455 |
Unused lines of Credit [Member] | ||
Off-balance sheet credit-related items | $ 715,072 | $ 745,674 |
Note 12 - Shareholders' Equit_2
Note 12 - Shareholders' Equity (Details Textual) | Sep. 30, 2023 | Dec. 31, 2022 |
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.045 | 0.045 |
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Capital Conservation Buffer | 0.025 | |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier 1 Risk-Based Capital, Actual | 0.070 | 0.070 |
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.060 | 0.060 |
Banking Regulation, Capital Conservation Buffer, Tier 1 Risk-Based Capital, Actual | 0.085 | 0.085 |
Banking Regulation, Capital Conservation Buffer, Total Risk-Based Capital, Actual | 0.105 | 0.105 |
Banking Regulation, Tier 1 Leverage Capital Ratio, Capital Adequacy, Minimum | 0.040 | 0.040 |
Note 12 - Shareholders' Equit_3
Note 12 - Shareholders' Equity - Regulatory Capital (Details) $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
CET1 capital, actual amount | $ 303,438 | $ 278,615 |
CET1 capital, actual ratio | 0.177 | 0.169 |
CET1 capital, minimum capital adequacy amount | $ 77,330 | $ 74,003 |
CET1 capital, minimum capital adequacy ratio | 0.045 | 0.045 |
CET1 capital, minimum capital adequacy with capital buffer amount | $ 120,292 | $ 115,116 |
CET1 capital, minimum capital adequacy with capital buffer ratio | 0.070 | 0.070 |
Tier 1 capital, actual amount | $ 303,438 | $ 278,615 |
Tier 1 capital, actual ratio | 0.177 | 0.169 |
Tier 1 capital, minimum capital adequacy amount | $ 103,107 | $ 98,670 |
Tier 1 capital, minimum capital adequacy ratio | 0.060 | 0.060 |
Tier 1 capital, minimum capital adequacy with capital buffer amount | $ 146,068 | $ 139,783 |
Tier 1 capital, minimum capital adequacy with capital buffer ratio | 0.085 | 0.085 |
Total capital, actual amount | $ 320,439 | $ 293,900 |
Total capital, actual ratio | 0.187 | 0.179 |
Total capital, minimum capital adequacy amount | $ 137,476 | $ 131,561 |
Total capital, minimum capital adequacy ratio | 0.080 | 0.080 |
Total capital, minimum capital adequacy with capital buffer amount | $ 180,437 | $ 172,673 |
Total capital, minimum capital adequacy with capital buffer ratio | 0.105 | 0.105 |
Tier 1 leverage capital, actual amount | $ 303,438 | $ 278,615 |
Tier 1 leverage capital, actual ratio | 0.109 | 0.097 |
Tier 1 leverage capital, minimum capital adequacy amount | $ 111,285 | $ 114,589 |
Tier 1 leverage capital, minimum capital adequacy ratio | 0.040 | 0.040 |
Subsidiaries [Member] | ||
CET1 capital, actual amount | $ 294,503 | $ 270,274 |
CET1 capital, actual ratio | 0.171 | 0.164 |
CET1 capital, minimum capital adequacy amount | $ 77,329 | $ 73,992 |
CET1 capital, minimum capital adequacy ratio | 0.045 | 0.045 |
CET1 capital, minimum capital adequacy with capital buffer amount | $ 120,289 | $ 115,098 |
CET1 capital, minimum capital adequacy with capital buffer ratio | 0.070 | 0.070 |
CET1 capital, well capitalized amount | $ 111,697 | $ 106,877 |
CET1 capital, well capitalized ratio | 0.065 | 0.065 |
Tier 1 capital, actual amount | $ 294,503 | $ 270,274 |
Tier 1 capital, actual ratio | 0.171 | 0.164 |
Tier 1 capital, minimum capital adequacy amount | $ 103,105 | $ 98,655 |
Tier 1 capital, minimum capital adequacy ratio | 0.060 | 0.060 |
Tier 1 capital, minimum capital adequacy with capital buffer amount | $ 146,065 | $ 139,762 |
Tier 1 capital, minimum capital adequacy with capital buffer ratio | 0.085 | 0.085 |
Tier 1 capital, well capitalized amount | $ 137,473 | $ 131,540 |
Tier 1 capital, well capitalized ratio | 0.080 | 0.080 |
Total capital, actual amount | $ 311,504 | $ 285,559 |
Total capital, actual ratio | 0.181 | 0.174 |
Total capital, minimum capital adequacy amount | $ 137,473 | $ 131,540 |
Total capital, minimum capital adequacy ratio | 0.080 | 0.080 |
Total capital, minimum capital adequacy with capital buffer amount | $ 180,434 | $ 172,647 |
Total capital, minimum capital adequacy with capital buffer ratio | 0.105 | 0.105 |
Total capital, well capitalized amount | $ 171,842 | $ 164,426 |
Total capital, well capitalized ratio | 0.100 | 0.100 |
Tier 1 leverage capital, actual amount | $ 294,503 | $ 270,274 |
Tier 1 leverage capital, actual ratio | 0.106 | 0.094 |
Tier 1 leverage capital, minimum capital adequacy amount | $ 111,280 | $ 114,582 |
Tier 1 leverage capital, minimum capital adequacy ratio | 0.040 | 0.040 |
Tier 1 leverage capital, well capitalized amount | $ 139,100 | $ 143,227 |
Tier 1 leverage capital, well capitalized ratio | 0.050 | 0.050 |