Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | Apr. 30, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001098151 | |
Entity Registrant Name | FIDELITY D & D BANCORP INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38229 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-3017653 | |
Entity Address, Address Line One | Blakely & Drinker St. | |
Entity Address, City or Town | Dunmore | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 18512 | |
City Area Code | 570 | |
Local Phone Number | 342-8281 | |
Title of 12(b) Security | Common stock, without par value | |
Trading Symbol | FDBC | |
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 | 5,665,255 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Assets: | ||
Cash and due from banks | $ 29,668 | $ 3,542 |
Interest-bearing deposits with financial institutions | 33,370 | 25,549 |
Total cash and cash equivalents | 63,038 | 29,091 |
Available-for-sale securities | 391,414 | 420,862 |
Held-to-maturity securities (fair value of $194,251 in 2023; $187,280 in 2022) | 223,112 | 222,744 |
Restricted investments in bank stock | 5,968 | 5,268 |
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 1,609,089 | 1,547,025 |
Loans held-for-sale (fair value $160 in 2023; $1,660 in 2022) | 156 | 1,637 |
Foreclosed assets held-for-sale | 87 | 168 |
Bank premises and equipment, net | 31,408 | 31,307 |
Leased property under finance leases, net | 1,029 | 1,089 |
Right-of-use assets | 8,527 | 8,642 |
Cash surrender value of bank owned life insurance | 53,567 | 54,035 |
Accrued interest receivable | 8,666 | 8,487 |
Goodwill | 19,628 | 19,628 |
Core deposit intangible, net | 1,443 | 1,540 |
Other assets | 25,889 | 26,849 |
Total assets | 2,443,021 | 2,378,372 |
Liabilities: | ||
Interest-bearing | 1,552,036 | 1,564,305 |
Non-interest-bearing | 591,055 | 602,608 |
Total deposits | 2,143,091 | 2,166,913 |
Accrued interest payable and other liabilities | 15,846 | 17,434 |
Allowance for credit losses on off-balance sheet credit exposures | 1,334 | 49 |
Finance lease obligation | 1,051 | 1,110 |
Operating lease liabilities | 9,263 | 9,357 |
Short-term borrowings | 88,989 | 12,940 |
Secured borrowings | 7,560 | 7,619 |
Total liabilities | 2,267,134 | 2,215,422 |
Shareholders' equity: | ||
Preferred stock authorized 5,000,000 shares with no par value; none issued | 0 | 0 |
Capital stock, no par value (10,000,000 shares authorized; shares issued and outstanding; 5,665,255 at March 31, 2023; and 5,630,794 at December 31, 2022) | 116,437 | 115,611 |
Retained earnings | 123,416 | 119,754 |
Accumulated other comprehensive loss | (62,938) | (71,152) |
Treasury stock, at cost (25,945 shares at March 31, 2023 and 32,663 shares at December 31, 2022) | (1,028) | (1,263) |
Total shareholders' equity | 175,887 | 162,950 |
Total liabilities and shareholders' equity | $ 2,443,021 | $ 2,378,372 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Held-to-maturity securities, fair value | $ 194,251 | $ 187,280 |
Financing receivable, allowance for credit losses | 17,910 | 17,149 |
Loan, Held-for-Sale, Fair Value Disclosure | $ 160 | $ 1,660 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 5,665,255 | 5,630,794 |
Common stock, shares outstanding (in shares) | 5,665,255 | 5,630,794 |
Treasury stock, shares (in shares) | 25,945 | 32,663 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest income: | ||
Taxable | $ 18,119 | $ 14,367 |
Nontaxable | 899 | 409 |
Interest-bearing deposits with financial institutions | 31 | 33 |
Restricted investments in bank stock | 106 | 31 |
Investment securities: | ||
U.S. government agency and corporations | 1,520 | 1,508 |
States and political subdivisions (nontaxable) | 1,217 | 1,381 |
States and political subdivisions (taxable) | 446 | 449 |
Total interest income | 22,338 | 18,178 |
Interest expense: | ||
Deposits | 4,618 | 822 |
Secured borrowings | 111 | 65 |
Other short-term borrowings | 584 | 0 |
Total interest expense | 5,313 | 887 |
Net interest income | 17,025 | 17,291 |
Provision for credit losses on loans | 180 | 525 |
Provision (credit) for credit losses on unfunded loan commitments | 225 | (11) |
Net interest income after provision for credit losses | 16,620 | 16,777 |
Other income: | ||
Earnings on bank-owned life insurance | 321 | 319 |
Gain (loss) on write-down, sale or disposal of: | ||
Loans | 164 | 712 |
Available-for-sale debt securities | (1) | 0 |
Premises and equipment | (2) | (157) |
Total other income | 4,489 | 4,554 |
Other expenses: | ||
Salaries and employee benefits | 6,515 | 6,714 |
Premises and equipment | 2,127 | 1,925 |
Data processing and communication | 677 | 712 |
Advertising and marketing | 893 | 781 |
Professional services | 925 | 719 |
Automated transaction processing | 429 | 369 |
Office supplies and postage | 181 | 179 |
PA shares tax | (32) | 160 |
Loan collection | 13 | 35 |
Other real estate owned | 1 | (25) |
FDIC assessment | 168 | 237 |
Other | 960 | 859 |
Total other expenses | 12,857 | 12,665 |
Income before income taxes | 8,252 | 8,666 |
Provision for income taxes | 1,212 | 1,144 |
Net income | $ 7,040 | $ 7,522 |
Per share data: | ||
Net income - basic (in dollars per share) | $ 1.25 | $ 1.33 |
Net income - diluted (in dollars per share) | 1.24 | 1.32 |
Dividends (in dollars per share) | $ 0.36 | $ 0.33 |
Deposit Account [Member] | ||
Other income: | ||
Other Income | $ 922 | $ 799 |
Credit and Debit Card [Member] | ||
Other income: | ||
Other Income | 1,251 | 1,176 |
Bank Servicing [Member] | ||
Other income: | ||
Other Income | 298 | 441 |
Fiduciary and Trust [Member] | ||
Other income: | ||
Other Income | 695 | 617 |
Investment Advisory, Management and Administrative Service [Member] | ||
Other income: | ||
Other Income | 222 | 267 |
Financial Service, Other [Member] | ||
Other income: | ||
Other Income | $ 619 | $ 380 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income | $ 7,040 | $ 7,522 |
Other comprehensive gain (loss), before tax: | ||
Unrealized holding gain (loss) on available-for-sale debt securities | 9,824 | (54,020) |
Reclassification adjustment for net losses realized in income | 1 | 0 |
Amortization of unrealized loss on held-to-maturity securities | 572 | 0 |
Net unrealized gain (loss) | 10,397 | (54,020) |
Tax effect | (2,183) | 11,344 |
Unrealized gain (loss), net of tax | 8,214 | (42,676) |
Other comprehensive income (loss), net of tax | 8,214 | (42,676) |
Total comprehensive income (loss), net of tax | $ 15,254 | $ (35,154) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock Outstanding [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Common [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 5,645,687 | |||||||
Balance at Dec. 31, 2021 | $ 114,108 | $ 97,442 | $ 179 | $ 211,729 | ||||
Net income | 7,522 | 7,522 | ||||||
Other comprehensive income (loss) | (42,676) | (42,676) | ||||||
Issuance of common stock through Employee Stock Purchase Plan (in shares) | 4,891 | |||||||
Issuance of common stock through Employee Stock Purchase Plan | 252 | 252 | ||||||
Issuance of common stock from vested restricted share grants through stock compensation plans (in shares) | 8,490 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans | 0 | 0 | ||||||
Stock-based compensation expense | 306 | 306 | ||||||
Cash dividends declared | (1,890) | (1,890) | ||||||
Balance (in shares) at Mar. 31, 2022 | 5,659,068 | |||||||
Balance at Mar. 31, 2022 | 114,666 | 103,074 | (42,497) | 175,243 | ||||
Balance (in shares) at Dec. 31, 2022 | 5,630,794 | |||||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ (1,326) | $ (1,326) | ||||||
Balance at Dec. 31, 2022 | 115,611 | 119,754 | (71,152) | $ (1,263) | 162,950 | |||
Net income | 7,040 | 7,040 | ||||||
Other comprehensive income (loss) | 8,214 | 8,214 | ||||||
Issuance of common stock through Employee Stock Purchase Plan (in shares) | 7,294 | |||||||
Issuance of common stock through Employee Stock Purchase Plan | 302 | 302 | ||||||
Issuance of common stock from vested restricted share grants through stock compensation plans (in shares) | 20,449 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans | 0 | |||||||
Stock-based compensation expense | 445 | 445 | ||||||
Cash dividends declared | (2,052) | (2,052) | ||||||
Re-issuance of common stock through Dividend Reinvestment Plan (in shares) | 8,104 | |||||||
Re-issuance of common stock through Dividend Reinvestment Plan | 79 | 303 | 382 | |||||
Repurchase of shares to cover withholdings (in shares) | (1,386) | |||||||
Repurchase of shares to cover withholdings | (68) | (68) | ||||||
Balance (in shares) at Mar. 31, 2023 | 5,665,255 | |||||||
Balance at Mar. 31, 2023 | $ 116,437 | $ 123,416 | $ (62,938) | $ (1,028) | $ 175,887 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 7,040 | $ 7,522 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 1,188 | 1,402 |
Provision for credit losses on loans | 180 | 525 |
Provision (credit) for loan losses | 225 | (11) |
Deferred income tax expense (benefit) | (71) | 439 |
Stock-based compensation expense | 445 | 306 |
Proceeds from sale of loans held-for-sale | 11,105 | 30,239 |
Originations of loans held-for-sale | (9,795) | (18,048) |
Earnings from bank-owned life insurance | (321) | (319) |
Gain from bank-owned life insurance claim | (142) | 0 |
Net gain from sales of loans | (164) | (712) |
Net loss from sales of investment securities | 1 | 0 |
Net gain from sale and write-down of foreclosed assets held-for-sale | 0 | (44) |
Net loss from write-down and disposal of bank premises and equipment | 2 | 157 |
Operating lease payments | 22 | 31 |
Change in: | ||
Accrued interest receivable | (179) | 101 |
Other assets | (895) | (1,501) |
Accrued interest payable and other liabilities | (1,589) | (1,842) |
Net cash provided by operating activities | 7,052 | 18,245 |
Cash flows from investing activities: | ||
Proceeds from sales | 31,208 | 0 |
Proceeds from maturities, calls and principal pay-downs | 7,142 | 10,057 |
Purchases | 0 | (37,930) |
Increase in restricted investments in bank stock | (700) | (24) |
Net increase in loans and leases | (63,082) | (27,254) |
Principal portion of lease payments received under direct finance leases | 1,407 | 1,494 |
Purchases of bank premises and equipment | (718) | (3,242) |
Proceeds from death benefits received on bank-owned life insurance | 931 | 0 |
Proceeds from sale of bank premises and equipment | 22 | 0 |
Proceeds from sale of foreclosed assets held-for-sale | 0 | 764 |
Net cash used in investing activities | (23,790) | (56,135) |
Cash flows from financing activities: | ||
Net (decrease) increase in deposits | (23,812) | 40,149 |
Net increase (decrease) in other borrowings | 75,991 | (36) |
Repayment of finance lease obligation | (59) | (59) |
Proceeds from employee stock purchase plan participants | 302 | 252 |
Repurchase of shares to cover withholdings | (68) | 0 |
Dividends paid | (1,669) | (1,890) |
Net cash provided by financing activities | 50,685 | 38,416 |
Net increase in cash and cash equivalents | 33,947 | 526 |
Cash and cash equivalents, beginning | 29,091 | 96,877 |
Cash and cash equivalents, ending | 63,038 | 97,403 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 5,075 | 928 |
Income tax | 0 | 0 |
Supplemental Disclosures of Non-cash Investing Activities: | ||
Net change in unrealized gains (losses) on available-for-sale securities | 9,825 | (54,020) |
Cumulative-effect adjustment for adoption of ASU 2016-13 | (1,326) | 0 |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity | 572 | 0 |
Transfers from loans to foreclosed assets held-for-sale | (82) | |
Transfers to loans from foreclosed assets held-for-sale | 437 | |
Transfers from/(to) loans to/(from) loans held-for-sale, net | (205) | (12,798) |
Transfers from premises and equipment to other assets held-for-sale | 0 | 633 |
Right-of-use asset | 0 | 50 |
Lease liability | $ 0 | $ 50 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Critical Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Nature of operations Fidelity D & D Bancorp, Inc. (the Company) is a bank holding company and the parent of The Fidelity Deposit and Discount Bank (the Bank). The Bank is a commercial bank and trust company chartered under the laws of the Commonwealth of Pennsylvania and a wholly-owned subsidiary of the Company. Having commenced operations in 1903, Principles of consolidation The accompanying unaudited consolidated financial statements of the Company and the Bank have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to this Form 10 8 03 X. not For additional information and disclosures required under U.S. GAAP, refer to the Company’s Annual Report on Form 10 December 31, 2022 Management is responsible for the fairness, integrity and objectivity of the unaudited financial statements included in this report. Management prepared the unaudited financial statements in accordance with U.S. GAAP. In meeting its responsibility for the financial statements, management depends on the Company's accounting systems and related internal controls. These systems and controls are designed to provide reasonable but not In the opinion of management, the consolidated balance sheets as of March 31, 2023 December 31, 2022 three March 31, 2023 2022 three March 31, 2023 2022 2022 2023 In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after March 31, 2023 This Quarterly Report on Form 10 December 31, 2022 10 Critical accounting policies The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. A material estimate that is particularly susceptible to significant change relates to the determination of the allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2023 may may Another material estimate is the calculation of fair values of the Company’s investment securities. Fair values of investment securities are determined by pricing provided by a third may one may The fair value of residential mortgage loans, classified as held-for-sale (HFS), is obtained from the Federal National Mortgage Association (FNMA) or the Federal Home Loan Bank (FHLB). Generally, the market to which the Company sells residential mortgages it originates for sale is restricted and price quotes from other sources are not may may may March 31, 2023 December 31, 2022 Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest income on automobile direct finance leasing is determined using the interest method to arrive at a level effective yield over the life of the lease. The lease residual and the lease receivable, net of unearned lease income, are recorded within loans and leases on the balance sheet. Foreclosed assets held-for-sale includes other real estate acquired through foreclosure (ORE) and may, The Company accounts for business combinations under the purchase method of accounting. The application of this method of accounting requires the use of significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are amortized, accreted or depreciated from those that are recorded as goodwill. Estimates of the fair values of assets acquired and liabilities assumed are based upon assumptions that management believes to be reasonable. Goodwill is recorded on the consolidated balance sheets as the excess of liabilities assumed over identifiable assets acquired on the acquisition date. Goodwill is recorded at its net carrying value which represents estimated fair value. Goodwill is tested for impairment on at least an annual basis. There was no goodwill impairment as of March 31, 2023 December 31, 2022 Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not 860, 860 not 860, not The Company holds separate supplemental executive retirement (SERP) agreements for certain officers and an amount is credited to each participant’s SERP account monthly while they are actively employed by the bank until retirement. A deferred tax asset is provided for the non-deductible SERP expense. The Company also entered into separate split dollar life insurance arrangements with four executives providing post-retirement benefits and accrues monthly expense for this benefit. The split dollar life insurance expense is not For purposes of the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. |
Note 2 - New Accounting Pronoun
Note 2 - New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 2. In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 In November 2018, 2018 19, Codification Improvements to Topic 326 not 326. December 2018, (Regulatory Capital Rule: Implementation and Transition of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule and Conforming Amendments to Other Regulations) April 2019, 2019 04, Codification Improvements to Topic 326, Credit Losses, Topic 815, 825, 2016 13, not On January 1, 2023, 2016 13 third 3rd 2022, fourth 2022, third no January 1, 2023 326 January 1, 2023 326. March 31, 2023 not The Company adopted the provisions of ASC 326 310 30 not January 1, 2023, In March 2022, 2022 02, Financial Instruments-Credit Losses (Topic 326 310 40, Receivables-Troubled Debt Restructurings by Creditors 326 20, Financial Instruments-Credit Losses-Measured at Amortized Cost 2016 13. 2022 02 January 1, 2023 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 Facilitation of the Effects of Reference Rate Reform on Financial Reporting not 2020 04 March 12, 2020 December 31, 2022. In December 2022, 2022 06, Reference Rate Reform (Topic 848 848 848 December 31, 2022, December 31, 2024, no 848. 2022 06. March 31, 2023 mately $35 million in loan |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. The following tables illustrate the changes in accumulated other comprehensive income by component and the details about the components of accumulated other comprehensive income as of and for the periods indicated: As of and for the three months ended March 31, 2023 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ (53,624 ) $ (17,528 ) $ (71,152 ) Other comprehensive gain before reclassifications, net of tax 7,761 452 8,213 Amounts reclassified from accumulated other comprehensive income, net of tax 1 - 1 Net current-period other comprehensive gain 7,762 452 8,214 Ending balance $ (45,862 ) $ (17,076 ) $ (62,938 ) As of and for the three months ended March 31, 2022 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ 179 $ - $ 179 Other comprehensive loss before reclassifications, net of tax (42,676 ) - (42,676 ) Amounts reclassified from accumulated other comprehensive income, net of tax - - - Net current-period other comprehensive loss (42,676 ) - (42,676 ) Ending balance $ (42,497 ) $ - $ (42,497 ) Details about accumulated other comprehensive income components Amount reclassified from accumulated Affected line item in the statement (dollars in thousands) other comprehensive income where net income is presented For the three months ended March 31, 2023 2022 Unrealized gains (losses) on AFS debt securities $ (1 ) $ - Gain (loss) on sale of investment securities Income tax effect - - Provision for income taxes Total reclassifications for the period $ (1 ) $ - Net income |
Note 4 - Investment Securities
Note 4 - Investment Securities | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Agency – Government-sponsored enterprise (GSE) and Mortgage-backed securities (MBS) - GSE residential Agency – GSE and MBS – GSE residential securities consist of short- to long-term notes issued by Federal Home Loan Mortgage Corporation (FHLMC), FNMA, FHLB and Government National Mortgage Association (GNMA). These securities have interest rates that are fixed, have varying short to long-term maturity dates and have contractual cash flows guaranteed by the U.S. government or agencies of the U.S. government. Obligations of states and political subdivisions (municipal) The municipal securities are general obligation and revenue bonds rated as investment grade by various credit rating agencies and have fixed rates of interest with mid- to long-term maturities. Fair values of these securities are highly driven by interest rates. Management performs ongoing credit quality reviews on these issues. The Company did not March 31, 2023 December 31, 2022 Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value March 31, 2023 Held-to-maturity securities: Agency - GSE $ 80,572 $ - $ (7,726 ) $ 72,846 Obligations of states and political subdivisions 142,540 - (21,135 ) 121,405 Total held-to-maturity securities $ 223,112 $ - $ (28,861 ) $ 194,251 Available-for-sale debt securities: Agency - GSE $ 31,108 $ - $ (3,958 ) $ 27,150 Obligations of states and political subdivisions 174,418 5 (20,634 ) 153,789 MBS - GSE residential 243,942 - (33,467 ) 210,475 Total available-for-sale debt securities $ 449,468 $ 5 $ (58,059 ) $ 391,414 Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2022 Held-to-maturity securities: Agency - GSE $ 80,306 $ - $ (9,243 ) $ 71,063 Obligations of states and political subdivisions 142,438 - (26,221 ) 116,217 Total held-to-maturity securities $ 222,744 $ - $ (35,464 ) $ 187,280 Available-for-sale debt securities: Agency - GSE $ 36,076 $ - $ (4,543 ) $ 31,533 Obligations of states and political subdivisions 197,935 501 (26,542 ) 171,894 MBS - GSE residential 254,730 - (37,295 ) 217,435 Total available-for-sale debt securities $ 488,741 $ 501 $ (68,380 ) $ 420,862 The amortized cost and fair value of debt securities at March 31, 2023 Amortized Fair (dollars in thousands) cost value Held-to-maturity securities: Due in one year or less $ - $ - Due after one year through five years 9,818 9,182 Due after five years through ten years 74,339 66,907 Due after ten years 138,955 118,162 Total held-to-maturity securities $ 223,112 $ 194,251 Available-for-sale securities: Debt securities: Due in one year or less $ - $ - Due after one year through five years 20,963 18,959 Due after five years through ten years 37,944 32,248 Due after ten years 146,619 129,732 MBS - GSE residential 243,942 210,475 Total available-for-sale debt securities $ 449,468 $ 391,414 Actual maturities will differ from contractual maturities because issuers and borrowers may Securities pledged at March 31, 2023 The following table presents the fair value and gross unrealized losses of debt securities aggregated by investment type, the length of time and the number of securities that have been in a continuous unrealized loss position as of March 31, 2023 December 31, 2022 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses March 31, 2023 Agency - GSE $ - $ - $ 99,996 $ (11,684 ) $ 99,996 $ (11,684 ) Obligations of states and political subdivisions 19,043 (1,317 ) 254,498 (40,452 ) 273,541 (41,769 ) MBS - GSE residential 7,208 (380 ) 203,267 (33,087 ) 210,475 (33,467 ) Total $ 26,251 $ (1,697 ) $ 557,761 $ (85,223 ) $ 584,012 $ (86,920 ) Number of securities 45 390 435 December 31, 2022 Agency - GSE $ 9,285 $ (377 ) $ 93,312 $ (13,409 ) $ 102,597 $ (13,786 ) Obligations of states and political subdivisions 170,484 (26,928 ) 112,353 (25,835 ) 282,837 (52,763 ) MBS - GSE residential 61,803 (6,018 ) 155,632 (31,277 ) 217,435 (37,295 ) Total $ 241,572 $ (33,323 ) $ 361,297 $ (70,521 ) $ 602,869 $ (103,844 ) Number of securities 272 213 485 The Company had 435 debt securities in an unrealized loss position at March 31, 2023 March 31, 2023 no March 31, 2023 The Company reassessed classification of certain investments and effective April 1, 2022, Unrealized losses on available-for-sale securities have not not not 1 not 2 not not 3 The Company has U.S. agency bonds and municipal securities classified as held-to-maturity. Management estimated no third no The Company’s other than temporary impairment (OTTI)/credit impairment evaluation process also follows the guidance set forth in topics related to debt securities. The guidance set forth in the pronouncements require the Company to take into consideration current market conditions, fair value in relationship to cost, extent and nature of changes in fair value, issuer rating changes and trends, volatility of earnings, current analysts’ evaluations, all available information relevant to the collectability of debt securities, the ability and intent to hold investments until a recovery of fair value which may not For all debt securities, as of March 31, 2023 no not, no |
Note 5 - Loans and Leases
Note 5 - Loans and Leases | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. The classifications of loans and leases at March 31, 2023 December 31, 2022 (dollars in thousands) March 31, 2023 December 31, 2022 Commercial and industrial: Commercial $ 136,966 $ 166,491 Municipal 110,092 67,987 Commercial real estate: Non-owner occupied 310,289 316,867 Owner occupied 282,200 270,810 Construction 33,192 18,941 Consumer: Home equity installment 59,461 59,118 Home equity line of credit 49,928 52,568 Auto loans - Recourse 12,207 12,929 Auto loans - Non-recourse 125,051 114,909 Direct finance leases 33,905 33,223 Other 13,181 11,709 Residential: Real estate 417,026 398,136 Construction 45,322 42,232 Total 1,628,820 1,565,920 Less: Allowance for credit losses on loans (17,910 ) (17,149 ) Unearned lease revenue (1,821 ) (1,746 ) Loans and leases, net $ 1,609,089 $ 1,547,025 Total unamortized net costs and premiums included in loan totals were as follows: (dollars in thousands) March 31, 2023 December 31, 2022 Net unamortized fair value mark discount on acquired loans $ (8,037 ) $ (9,064 ) Net unamortized deferred loan origination costs 4,775 4,630 Total $ (3,262 ) $ (4,434 ) Based on the adoption of ASU 2016 13, December 31, 2022 The Company excludes accrued interest receivable from the amortized cost basis of loans disclosed throughout this footnote. As of March 31, 2023 December 31, 2022 Direct finance leases include the lease receivable and the guaranteed lease residual. Unearned lease revenue represents the difference between the lessor’s investment in the property and the gross investment in the lease. Unearned revenue is accrued over the life of the lease using the effective interest method. The Company services real estate loans for investors in the secondary mortgage market which are not March 31, 2023 December 31, 2022. March 31, 2023 December 31, 2022 Management is responsible for conducting the Company’s credit risk evaluation process, which includes credit risk grading of individual commercial and industrial and commercial real estate loans. Commercial and industrial and commercial real estate loans are assigned credit risk grades based on the Company’s assessment of conditions that affect the borrower’s ability to meet its contractual obligations under the loan agreement. That process includes reviewing borrowers’ current financial information, historical payment experience, credit documentation, public information, and other information specific to each individual borrower. Upon review, the commercial loan credit risk grade is revised or reaffirmed. The credit risk grades may may Non-accrual loans Non-accrual loans and loans past due over 89 March 31, 2023 December 31, 2022 (dollars in thousands) Nonaccrual With No Allowance for Credit Loss Nonaccrual With Allowance for Credit Loss Total Nonaccrual Loans Past Due Over 89 Days Still Accruing At March 31, 2023 Commercial and industrial: Commercial $ 620 $ 119 $ 739 $ - Municipal - - - - Commercial real estate: Non-owner occupied 143 168 311 - Owner occupied 1,472 476 1,948 - Consumer: Home equity installment - - - - Home equity line of credit 75 - 75 - Auto loans - Recourse 11 - 11 - Auto loans - Non-recourse 120 50 170 - Direct finance leases - - - 17 Other 2 - 2 - Residential: Real estate 86 - 86 - Total $ 2,529 $ 813 $ 3,342 $ 17 (dollars in thousands) Nonaccrual With No Allowance for Credit Loss Nonaccrual With Allowance for Credit Loss Total Nonaccrual Loans Past Due Over 89 Days Still Accruing At December 31, 2022 Commercial and industrial: Commercial $ 580 $ 139 $ 719 $ - Municipal - - - - Commercial real estate: Non-owner occupied 168 215 383 - Owner occupied 716 350 1,066 - Consumer: Home equity installment - - - - Home equity line of credit 211 - 211 - Auto loans - Recourse 135 18 153 - Auto loans - Non-recourse - - - 16 Direct finance leases - - - 17 Other - - - - Residential: Real estate 3 - 3 - Total $ 1,813 $ 722 $ 2,535 $ 33 The decision to place loans on non-accrual status is made on an individual basis after considering factors pertaining to each specific loan. C&I and CRE loans are placed on non-accrual status when management has determined that payment of all contractual principal and interest is in doubt or the loan is past due 90 90 90 Loan modifications to borrowers experiencing financial difficulty Occasionally, the Company modifies loans to borrowers in financial distress by providing lower interest rates below the market rate, temporary interest-only payment periods, term extensions at interest rates lower than the current market rate for new debt with similar risk and/or converting revolving credit lines to term loans. The Company typically does not In some cases, the Company provides multiple types of concessions on one may The following table presents the amortized cost basis of loans at March 31, 2023 three March 31, 2023 Loans modified for the three months ended: (dollars in thousands) March 31, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension Interest Rate Reduction Total Class of Financing Receivable Commercial real estate: Non-owner occupied $ - $ - $ 65 $ 3,261 $ - $ - 1.07 % Total $ - $ - $ 65 $ 3,261 $ - $ - The Company has not Loans modified to borrowers experiencing financial difficulty are closely monitored to understand the effectiveness of its modification efforts. None of the loans that have been modified in the last 12 March 31, 2023. The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three March 31, 2023 (dollars in thousands) March 31, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - 6.13 % 6 Total $ - 6.13 % 6 There were no loans that had a payment default during the three March 31, 2023 twelve Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loans (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. The allowance for credit losses (ACL) may may may Past due loans Loans are considered past due when the contractual principal and/or interest is not 30 59 two Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days March 31, 2023 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial: Commercial $ 30 10 739 $ 779 $ 136,187 $ 136,966 $ - Municipal - - - - 110,092 110,092 Commercial real estate: Non-owner occupied - - 311 311 309,978 310,289 - Owner occupied - - 1,948 1,948 280,252 282,200 - Construction - - - - 33,192 33,192 - Consumer: Home equity installment 167 55 - 222 59,239 59,461 - Home equity line of credit 16 - 75 91 49,837 49,928 - Auto loans - Recourse 46 5 11 62 12,145 12,207 - Auto loans - Non-recourse 341 43 170 554 124,497 125,051 - Direct finance leases 102 - 17 119 31,965 32,084 (2) 17 Other 7 5 2 14 13,167 13,181 - Residential: Real estate 22 - 86 108 416,918 417,026 - Construction - - - - 45,322 45,322 - Total $ 731 $ 118 $ 3,359 $ 4,208 $ 1,622,791 $ 1,626,999 $ 17 ( 1 ( 2 ( 3 Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days December 31, 2022 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial Commercial $ - $ - $ 719 $ 719 $ 165,772 $ 166,491 $ - Municipal - - - - 67,987 67,987 - Commercial real estate: Non-owner occupied - - 383 383 316,484 316,867 - Owner occupied 42 - 1,066 1,108 269,702 270,810 - Construction - - - - 18,941 18,941 - Consumer: Home equity installment 239 - - 239 58,879 59,118 - Home equity line of credit 110 151 211 472 52,096 52,568 - Auto loans - Recourse 152 115 11 278 12,651 12,929 - Auto loans - Non-recourse 411 86 158 655 114,254 114,909 16 Direct finance leases 186 - 17 203 31,274 31,477 (2) 17 Other 12 7 - 19 11,690 11,709 - Residential: Real estate - 327 3 330 397,806 398,136 - Construction - - - - 42,232 42,232 - Total $ 1,152 $ 686 $ 2,568 $ 4,406 $ 1,559,768 $ 1,564,174 $ 33 ( 1 ( 2 ( 3 Pre-Adoption of ASC 326 For periods prior to the adoption of CECL, loans were considered impaired when, based on current information and events; it was probable that the Company would be unable to collect the payments in accordance with the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value, and the probability of collecting payments when due. The significance of payment delays and/or shortfalls was determined on a case-by-case basis. All circumstances surrounding the loan were considered. Such factors include the length of the delinquency, the underlying reasons and the borrower’s prior payment record. Impairment was measured on these loans on a loan-by-loan basis. Impaired loans included non-accrual loans, TDRs and other loans deemed to be impaired based on the aforementioned factors. Impaired loans, segregated by class, as of December 31, 2022 Recorded Recorded Unpaid investment investment Total principal with with no recorded Related (dollars in thousands) balance allowance allowance investment allowance December 31, 2022 Commercial and industrial $ 942 $ 139 $ 580 $ 719 $ 48 Commercial real estate: Non-owner occupied 762 215 547 762 42 Owner occupied 2,347 1,304 716 2,020 70 Consumer: Home equity installment 33 - - - - Home equity line of credit 255 - 211 211 - Auto loans 213 18 135 153 1 Residential: Real estate 50 - 3 3 - Total $ 4,602 $ 1,676 $ 2,192 $ 3,868 $ 161 At December 31, 2022 December 31, 2022 The following table presents the average recorded investments in impaired loans and related amount of interest income recognized during the periods indicated below. The average balances are calculated based on the quarter-end balances of impaired loans. Payments received from non-accruing impaired loans are first Average recorded investment refers to the two March 31, 2022 Cash basis Average Interest interest recorded income income (dollars in thousands) investment recognized recognized Commercial and industrial $ 272 $ - $ - Commercial real estate: Non-owner occupied 2,302 46 - Owner occupied 2,001 27 - Construction - - - Consumer: Home equity installment 16 - - Home equity line of credit 157 - - Auto loans 70 1 - Direct finance leases - - - Other - - - Residential: Real estate 564 25 - Construction - - - Total $ 5,382 $ 99 $ - Credit Quality Indicators Commercial and industrial and commercial real estate The Company utilizes a loan grading system and assigns a credit risk grade to its loans in the C&I and CRE portfolios. The grading system provides a means to measure portfolio quality and aids in the monitoring of the credit quality of the overall loan portfolio. The credit risk grades are arrived at using a risk rating matrix to assign a grade to each of the loans in the C&I and CRE portfolios. These loans are assigned credit risk grades based on the Company’s assessment of conditions that affect the borrower’s ability to meet its contractual obligations under the loan agreement. That process includes reviewing borrowers’ current financial information, historical payment experience, credit documentation, public information and other information specific to each individual borrower. Upon review, the commercial loan credit risk grade is revised or reaffirmed. The credit risk grades may may The following is a description of each risk rating category the Company uses to classify each of its C&I and CRE loans: Pass Loans in this category have an acceptable level of risk and are graded in a range of one no one five Special Mention Loans in this category are graded a six may not may no may not Substandard Loans in this category are graded a seven may may may not may 90 Doubtful Loans in this category are graded an eight 50% may eight Consumer and residential The consumer and residential loan segments are regarded as homogeneous loan pools and as such are not 90 not The following tables present loans including $4.8 million and $4.6 million of deferred costs, segregated by class, categorized into the appropriate credit quality indicator category as of March 31, 2023 December 31, 2022 Commercial credit exposure Credit risk profile by creditworthiness category As of March 31, 2023 (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial and industrial Risk Rating Pass $ 3,619 $ 25,468 $ 27,091 $ 9,752 $ 9,257 $ 14,888 $ 44,165 $ - $ 134,240 Special Mention - 124 - - - - 68 - 192 Substandard - 188 17 - 74 334 1,921 - 2,534 Doubtful - - - - - - - - - Total commercial and industrial $ 3,619 $ 25,780 $ 27,108 $ 9,752 $ 9,331 $ 15,222 $ 46,154 $ - $ 136,966 Commercial and industrial: Current period gross write-offs $ - $ - $ 150 $ 20 $ - $ - $ - $ - $ 170 Commercial and industrial - municipal Risk Rating Pass $ 36,815 $ 20,553 $ 17,295 $ 13,568 $ 1,453 $ 20,408 $ - $ - $ 110,092 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial and industrial - municipal $ 36,815 $ 20,553 $ 17,295 $ 13,568 $ 1,453 $ 20,408 $ - $ - $ 110,092 Commercial and industrial - municipal: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - non-owner occupied Risk Rating Pass $ 3,134 $ 36,530 $ 78,399 $ 47,199 $ 19,616 $ 102,174 $ 8,950 $ - $ 296,002 Special Mention - 65 1,076 335 497 2,207 40 - 4,220 Substandard - - - 278 87 9,702 - - 10,067 Doubtful - - - - - - - - - Total commercial real estate - non-owner occupied $ 3,134 $ 36,595 $ 79,475 $ 47,812 $ 20,200 $ 114,083 $ 8,990 $ - $ 310,289 Commercial real estate - non-owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ 32 $ - $ - $ 32 Commercial real estate - owner occupied Risk Rating Pass $ 4,028 $ 54,840 $ 49,269 $ 30,495 $ 25,025 $ 89,390 $ 14,588 $ - $ 267,635 Special Mention - 29 899 28 - 308 125 - 1,389 Substandard 1,412 - 350 - - 10,779 635 - 13,176 Doubtful - - - - - - - - - Total commercial real estate - owner occupied $ 5,440 $ 54,869 $ 50,518 $ 30,523 $ 25,025 $ 100,477 $ 15,348 $ - $ 282,200 Commercial real estate - owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - construction Risk Rating Pass $ 699 $ 23,405 $ 3,743 $ - $ - $ 2,335 $ 3,010 $ - $ 33,192 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial real estate - construction $ 699 $ 23,405 $ 3,743 $ - $ - $ 2,335 $ 3,010 $ - $ 33,192 Commercial real estate - construction: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity As of March 31, 2023 (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Home equity installment Payment performance Performing $ 3,077 $ 20,132 $ 11,323 $ 9,740 $ 4,370 $ 10,819 $ - $ - $ 59,461 Non-performing - - - - - - - - - Total home equity installment $ 3,077 $ 20,132 $ 11,323 $ 9,740 $ 4,370 $ 10,819 $ - $ - $ 59,461 Home equity installment Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Home equity line of credit Payment performance Performing $ - $ - $ - $ - $ - $ - $ 39,325 $ 10,528 $ 49,853 Non-performing - - - - - - 75 - 75 Total home equity line of credit $ - $ - $ - $ - $ - $ - $ 39,400 $ 10,528 $ 49,928 Home equity line of credit Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - recourse Payment performance Performing $ 914 $ 2,778 $ 4,045 $ 2,763 $ 1,254 $ 442 $ - $ - $ 12,196 Non-performing - - - - - 11 - - 11 Total auto loans - recourse $ 914 $ 2,778 $ 4,045 $ 2,763 $ 1,254 $ 453 $ - $ - $ 12,207 Auto loans - recourse Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - non-recourse Payment performance Performing $ 21,786 $ 54,393 $ 23,818 $ 12,427 $ 7,654 $ 4,803 $ - $ - $ 124,881 Non-performing - - 75 65 22 8 - - 170 Total auto loans - non-recourse $ 21,786 $ 54,393 $ 23,893 $ 12,492 $ 7,676 $ 4,811 $ - $ - $ 125,051 Auto loans - non-recourse Current period gross write-offs $ - $ - $ 25 $ 14 $ 10 $ - $ - $ - $ 49 Direct finance leases (1) Payment performance Performing $ 3,804 $ 15,952 $ 10,157 $ 3,465 $ 454 $ 56 $ - $ - $ 33,888 Non-performing - - 17 - - - - - 17 Total direct finance leases $ 3,804 $ 15,952 $ 10,174 $ 3,465 $ 454 $ 56 $ - $ - $ 33,905 Direct finance leases Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer - other Payment performance Performing $ 2,874 $ 4,102 $ 2,078 $ 1,045 $ 792 $ 1,034 $ 1,254 $ - $ 13,179 Non-performing - - - - - 2 - - 2 Total consumer - other $ 2,874 $ 4,102 $ 2,078 $ 1,045 $ 792 $ 1,036 $ 1,254 $ - $ 13,181 Consumer - other Current period gross write-offs $ 3 $ 30 $ 3 $ 3 $ 8 $ 5 $ 52 Residential real estate Payment performance Performing $ 17,499 $ 61,113 $ 132,880 $ 52,928 $ 31,437 $ 121,083 $ - $ - $ 416,940 Non-performing - - - - - 86 - - 86 Total residential real estate $ 17,499 $ 61,113 $ 132,880 $ 52,928 $ 31,437 $ 121,169 $ - $ - $ 417,026 Residential real estate Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential - construction Payment performance Performing $ 742 $ 24,663 $ 14,576 $ 4,471 $ 428 $ 442 $ - $ - $ 45,322 Non-performing - - - - - - - - - Total residential - construction $ 742 $ 24,663 $ 14,576 $ 4,471 $ 428 $ 442 $ - $ - $ 45,322 Residential - construction Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - ( 1 Commercial credit exposure Credit risk profile by creditworthiness category December 31, 2022 (dollars in thousands) Pass Special mention Substandard Doubtful Total Commercial and industrial $ 231,614 $ 229 $ 2,635 $ - $ 234,478 Commercial real estate - non-owner occupied 301,386 4,227 11,254 - 316,867 Commercial real estate - owner occupied 255,921 803 14,086 - 270,810 Commercial real estate - construction 18,941 - - - 18,941 Total commercial $ 807,862 $ 5,259 $ 27,975 $ - $ 841,096 Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity December 31, 2022 (dollars in thousands) Performing Non-performing Total Consumer Home equity installment $ 59,118 $ - $ 59,118 Home equity line of credit 52,357 211 52,568 Auto loans 131,767 169 131,936 Direct finance leases (2) 31,460 17 31,477 Other 7,611 - 7,611 Total consumer 282,313 397 282,710 Residential Real estate 398,133 3 398,136 Construction 42,232 - 42,232 Total residential 440,365 3 440,368 Total consumer & residential $ 722,678 $ 400 $ 723,078 ( 2 Collateral dependent loans Loans that do not March 31, 2023: (dollars in thousands) Real Estate Other Total Collateral-Dependent Non-Accrual Loans At March 31, 2023 Commercial and industrial: Commercial $ - $ 739 $ 739 Municipal - - - Commercial real estate: Non-owner occupied 310 - 310 Owner occupied 1,948 - 1,948 Consumer: Home equity installment - - - Home equity line of credit 75 - 75 Auto loans - Recourse - 11 11 Auto loans - Non-recourse - 171 171 Direct finance leases - - - Other - 2 2 Residential: Real estate 86 - 86 Total $ 2,419 $ 923 $ 3,342 Allowance for credit losses Management continually evaluates the credit quality of the Company’s loan portfolio and performs a formal review of the adequacy of the allowance for credit losses (ACL) on a quarterly basis. The allowance reflects management’s best estimate of the amount of credit losses in the loan portfolio. When estimating the net amount expected to be collected, management considers the effects of past events, current conditions, and reasonable and supportable forecasts of the collectability of the Company’s financial assets. Those estimates may The methodology to analyze the adequacy of the ACL is based on seven ● Data: ● Segmentation: ● Contractual term of financial assets: ● Credit loss measurement method: 326. ● Reasonable and supportable forecasts: 326 may may 12 4 ● Reversion period: 326 not may 12 4 ● Qualitative factor adjustments: not o levels of and trends in delinquencies and non-accrual loans; o levels of and trends in charge-offs and recoveries; o trends in volume and terms of loans; o changes in risk selection and underwriting standards; o changes in lending policies and legal and regulatory requirements; o experience, ability and depth of lending management; o national and local economic trends and conditions; o changes in credit concentrations; and o changes in underlying collateral. Assets are evaluated on a collective (or pool) basis or individually, as applicable consistent with ASC Topic 326. 326, not may no not For individually evaluated assets, an ACL is determined separately for each financial asset. Management therefore measures the expected credit losses based on an appropriate method per ASC Subtopic 326 20, ASC Topic 326 not not The Company’s policy is to charge-off unsecured consumer loans when they become 90 If the individually evaluated asset is determined to not no An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies. A key control related to the allowance is the Company’s Special Assets Committee. This committee meets quarterly, and the applicable lenders discuss each relationship under review and reach a consensus on the appropriate estimated loss amount, if applicable, based on current accounting guidance. The Special Assets Committee’s focus is on ensuring the pertinent facts are considered regarding not may Information related to the change in the allowance and the Company’s recorded investment in loans by portfolio segment as of the period indicated is as follows: As of and for the three months ended March 31, 2023 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Credit Losses: Beginning balance $ 2,924 $ 7,162 $ 2,827 $ 4,169 $ 67 $ 17,149 Impact of adopting ASC 326 278 756 (547 ) 198 (67 ) 618 Initial allowance on loans purchased with credit deterioration - 126 - - - 126 Charge-offs (170 ) (32 ) (101 ) - - (303 ) Recoveries 20 39 72 9 - 140 Provision (credit) for loan losses (502 ) 106 197 307 72 180 Ending balance $ 2,550 $ 8,157 $ 2,448 $ 4,683 $ 72 $ 17,910 Ending balance: individually evaluated $ 42 $ 202 $ 5 $ - $ - $ 249 Ending balance: collectively evaluated $ 2,508 $ 7,955 $ 2,443 $ 4,683 $ 72 $ 17,661 Loans Receivables: Ending balance (2) $ 247,057 $ 625,682 $ 291,912 (1) $ 462,348 $ - $ 1,626,999 Ending balance: individually evaluated $ 772 $ 7,198 $ 259 $ 474 $ - $ 8,703 Ending balance: collectively evaluated $ 246,285 $ 618,484 $ 291,653 $ 461,874 $ - $ 1,618,296 ( 1 ( 2 As of and for the year ended December 31, 2022 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 2,204 $ 7,422 $ 2,404 $ 3,508 $ 86 $ 15,624 Charge-offs (371 ) (67 ) (377 ) - - (815 ) Recoveries 11 153 74 2 - 240 Provision 1,080 (346 ) 726 659 (19 ) 2,100 Ending balance $ 2,924 $ 7,162 $ 2,827 $ 4,169 $ 67 $ 17,149 Ending balance: individually evaluated for impairment $ 48 $ 112 $ 1 $ - $ - $ 161 Ending balance: collectively evaluated for impairment $ 2,876 $ 7,050 $ 2,826 $ 4,169 $ 67 $ 16,988 Loans Receivables: Ending balance (2) $ 234,478 $ 606,618 $ 282,710 (1) $ 440,368 $ - $ 1,564,174 Ending balance: individually evaluated for impairment $ 719 $ 2,782 $ 364 $ 3 $ - $ 3,868 Ending balance: collectively evaluated for impairment $ 233,759 $ 603,836 $ 282,346 $ 440,365 $ - $ 1,560,306 ( 1 ( 2 As of and for the three months ended March 31, 2022 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 2,204 $ 7,422 $ 2,404 $ 3,508 $ 86 $ 15,624 Charge-offs - (1 ) (94 ) - - (95 ) Recoveries 2 9 14 2 - 27 Provision 574 (608 ) 223 341 (5 ) 525 Ending balance $ 2,780 $ 6,822 $ 2,547 $ 3,851 $ 81 $ 16,081 Unfunded commitments In accordance with ASC Topic 326, not The Company's allowance for credit losses on unfunded commitments is recognized as a liability on the consolidated balance sheets, with adjustments to the reserve recognized in the provision for credit losses on unfunded commitments on the consolidated statements of income. The Company's activity in the allowance for credit losses on unfunded commitments for the period was as follows: (dollars in thousands) For the Three Months Ended March 31, 2023 For the Three Months Ended March 31, 2022 Beginning balance $ 49 $ 63 Impact of adopting ASC 326 1,060 - Provision (credit) for loan losses 225 (11 ) Ending balance $ 1,334 $ 52 Direct finance leases The Company originates direct finance leases through two March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 The undiscounted cash flows to be received on an annual basis for the direct finance leases are as follows: (dollars in thousands) Amount 2023 $ 8,830 2024 10,916 2025 11,117 2026 2,750 2027 208 2028 and thereafter 27 Total future minimum lease payments receivable 33,848 Less: Unearned income (1,821 ) Undiscounted cash flows to be received $ 32,027 |
Note 6 - Earnings Per Share
Note 6 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. Basic earnings per share (EPS) is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed in the same manner as basic EPS but also reflects the potential dilution that could occur from the grant of stock-based compensation awards. The Company maintains one may three March 31, 2023 2022 not three March 31, 2023 three March 31, 2023 2022 not three March 31, 2023 In the computation of diluted EPS, the Company uses the treasury stock method to determine the dilutive effect of its granted but unexercised stock options and SSARs and unvested restricted stock. Under the treasury stock method, the assumed proceeds, as defined, received from shares issued in a hypothetical stock option exercise or restricted stock grant, are assumed to be used to purchase treasury stock. Proceeds include amounts received from the exercise of outstanding stock options and compensation cost for future service that the Company has not not The following table illustrates the data used in computing basic and diluted EPS for the periods indicated: Three months ended March 31, 2023 2022 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 7,040 $ 7,522 Weighted-average common shares outstanding 5,649,623 5,655,192 Basic EPS $ 1.25 $ 1.33 Diluted EPS: Net income available to common shareholders $ 7,040 $ 7,522 Weighted-average common shares outstanding 5,649,623 5,655,192 Potentially dilutive common shares 42,480 38,545 Weighted-average common and potentially dilutive shares outstanding 5,692,103 5,693,737 Diluted EPS $ 1.24 $ 1.32 |
Note 7 - Stock Plans
Note 7 - Stock Plans | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. The Company has one At the 2022 2022 2012 2012 2012 2012 2022. 2022 no 2032. In the 2022 2019, ten During the first 2023 February 2023 2022 During the first 2022 February 2022 2021 The following table summarizes the weighted-average fair value and vesting of restricted stock grants awarded during the periods ended March 31, 2023 2022 2022 2012 March 31, 2023 March 31, 2022 Weighted- Weighted- Shares average grant Shares average grant granted date fair value granted date fair value Director plan - $ - 18,000 (2) $ 49.85 Omnibus plan 18,000 (2) 49.43 16,520 (3) 49.85 Omnibus plan 17,684 (3) 49.43 Omnibus plan 50 (1) 49.43 Total 35,734 $ 49.43 34,520 $ 49.85 ( 1 ( 2 ( 3 The fair value of the shares granted in 2023 2022 A summary of the status of the Company’s non-vested restricted stock as of and changes during the period indicated are presented in the following table: 2012 & 2022 Stock incentive plans Director Omnibus Total Weighted- average grant date fair value Non-vested balance at December 31, 2022 23,872 38,614 62,486 $ 51.46 Granted - 35,734 35,734 49.43 Forfeited - - - - Vested (9,736 ) (10,713 ) (20,449 ) 53.24 Non-vested balance at March 31, 2023 14,136 63,635 77,771 $ 50.06 A summary of the status of the Company’s SSARs as of and changes during the period indicated are presented in the following table: Awards Weighted-average grant date fair value Weighted-average remaining contractual term (years) Outstanding December 31, 2022 87,133 $ 9.69 4.5 Granted - Exercised - Forfeited - Outstanding March 31, 2023 87,133 $ 9.69 4.3 Of the SSARs outstanding at March 31, 2023 There were no SSARs exercised during the first 2023 2022. Share-based compensation expense is included as a component of salaries and employee benefits in the consolidated statements of income. The following tables illustrate stock-based compensation expense recognized on non-vested equity awards during the three March 31, 2023 2022 March 31, 2023 Three months ended March 31, (dollars in thousands) 2023 2022 Stock-based compensation expense: 2012 Director stock incentive plan $ 114 $ 109 2012 Omnibus stock incentive plan 141 165 2022 Omnibus stock incentive plan 156 - Employee stock purchase plan 34 32 Total stock-based compensation expense $ 445 $ 306 As of (dollars in thousands) March 31, 2023 Unrecognized stock-based compensation expense: 2012 Director stock incentive plan $ 658 2012 Omnibus stock incentive plan 670 2022 Omnibus stock incentive plan 1,611 Total unrecognized stock-based compensation expense $ 2,939 The unrecognized stock-based compensation expense as of March 31, 2023 February 2025, February 2025 February 2026 2012 2012 2022 In addition to the 2022 2002 March 31, 2023 101,827 shar During the second 2022, March 31, 2023, |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. The accounting guidelines establish a framework for measuring and disclosing information about fair value measurements. The guidelines of fair value reporting instituted a valuation hierarchy for disclosure of the inputs used to measure fair value. This hierarchy prioritizes the inputs into three Level 1 - Level 2 - not Level 3 - 3 may A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The Company uses fair value to measure certain assets and, if necessary, liabilities on a recurring basis when fair value is the primary measure for accounting. Thus, the Company uses fair value for AFS securities. Fair value is used on a non-recurring basis to measure certain assets when adjusting carrying values to market values, such as impaired loans, other real estate owned (ORE) and other repossessed assets. The following table represents the carrying amount and estimated fair value of the Company’s financial instruments as of the periods indicated: March 31, 2023 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 63,038 $ 63,038 $ 63,038 $ - $ - Held-to-maturity securities 223,112 194,251 - 194,251 - Available-for-sale debt securities 391,414 391,414 - 391,414 - Restricted investments in bank stock 5,968 5,968 - 5,968 - Loans and leases, net 1,609,089 1,482,605 - - 1,482,605 Loans held-for-sale 156 160 - 160 - Accrued interest receivable 8,666 8,666 - 8,666 - Interest rate swaps 154 154 - 154 - Financial liabilities: Deposits with no stated maturities 1,986,745 1,986,745 - 1,986,745 - Time deposits 156,346 152,976 - 152,976 - Short-term borrowings 88,989 88,984 - 88,984 - Secured borrowings 7,560 7,655 - - 7,655 Accrued interest payable 686 686 - 686 - Interest rate swaps 154 154 - 154 - December 31, 2022 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 29,091 $ 29,091 $ 29,091 $ - $ - Held-to-maturity securities 222,744 187,280 - 187,280 - Available-for-sale debt securities 420,862 420,862 - 420,862 - Restricted investments in bank stock 5,268 5,268 - 5,268 - Loans and leases, net 1,547,025 1,440,151 - - 1,440,151 Loans held-for-sale 1,637 1,660 - 1,660 - Accrued interest receivable 8,487 8,487 - 8,487 - Interest rate swaps 213 213 - 213 - Financial liabilities: Deposits with no stated maturities 2,049,689 2,049,689 - 2,049,689 - Time deposits 117,224 113,252 - 113,252 - Short-term borrowings 12,940 12,940 - 12,940 - Secured borrowings 7,619 7,275 - - 7,275 Accrued interest payable 448 448 - 448 - Interest rate swaps 213 213 - 213 - The carrying value of short-term financial instruments, as listed below, approximates their fair value. These instruments generally have limited credit exposure, no ● Cash and cash equivalents; ● Non-interest bearing deposit accounts; ● Savings, interest-bearing checking and money market accounts and ● Short-term borrowings. Securities: third Accruing loans and leases: The carrying value that fair value is compared to is net of the allowance for credit losses and since there is significant judgment included in evaluating credit quality, loans are classified within Level 3 Non-accrual loans: third 3 Loans held-for-sale: Interest rate swaps: third Certificates of deposit: Secured borrowings: The following tables illustrate the financial instruments measured at fair value on a recurring basis segregated by hierarchy fair value levels as of the periods indicated: Total carrying value Quoted prices in active markets Significant other observable inputs Significant other unobservable inputs (dollars in thousands) March 31, 2023 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 27,150 $ - $ 27,150 $ - Obligations of states and political subdivisions 153,789 - 153,789 - MBS - GSE residential 210,475 - 210,475 - Total available-for-sale debt securities $ 391,414 $ - $ 391,414 $ - Total carrying value Quoted prices in active markets Significant other observable inputs Significant other unobservable inputs (dollars in thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 31,533 $ - $ 31,533 $ - Obligations of states and political subdivisions 171,894 - 171,894 - MBS - GSE residential 217,435 - 217,435 - Total available-for-sale debt securities $ 420,862 $ - $ 420,862 $ - Debt securities in the AFS portfolio are measured at fair value using market quotations provided by a third 2 There were no changes in Level 3 March 31, 2023 December 31, 2022 The following table illustrates the financial instruments measured at fair value on a non-recurring basis segregated by hierarchy fair value levels as of the periods indicated: Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) Valuation techniques at March 31, 2023 (Level 1) (Level 2) (Level 3) Individually evaluated loans Fair value of collateral appraised value $ 598 $ - $ - $ 598 Individually evaluated loans Discount cash flow 517 517 Other real estate owned Fair value of asset less selling costs 1 - - 1 Total $ 1,116 $ - $ - $ 1,116 Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) at December 31, 2022 (Level 1) (Level 2) (Level 3) Impaired loans $ 1,515 $ - $ - $ 1,515 Other real estate owned 168 - - 168 Total $ 1,683 $ - $ - $ 1,683 From time-to-time, the Company may The following describes valuation methodologies used for financial instruments measured at fair value on a non-recurring basis. Individually evaluated loans that are collateral dependent are written down to fair value through the establishment of specific reserves, a component of the allowance for credit losses, and as such are carried at the lower of net recorded investment or the estimated fair value. Estimates of fair value of the collateral are determined based on a variety of information, including available valuations from certified appraisers for similar assets, present value of discounted cash flows and inputs that are estimated based on commonly used and generally accepted industry liquidation advance rates and estimates and assumptions developed by management. Valuation techniques for individually evaluated, collateral dependent loans are typically determined through independent appraisals of the underlying collateral or may 3 not may not may At March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 3. For ORE, fair value is generally determined through independent appraisals of the underlying properties which generally include various Level 3 not may may March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 At March 31, 2023 December 31, 2022 |
Note 9 - Employee Benefits
Note 9 - Employee Benefits | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans, Other than Share-Based Compensation [Text Block] | 9. Bank-Owned Life Insurance (BOLI) The Company has purchased single premium BOLI policies on certain officers. The policies are recorded at their cash surrender values. Increases in cash surrender values are included in non-interest income in the consolidated statements of income. The policies’ cash surrender value totaled $53.6 million and $54.0 million, respectively, as of March 31, 2023 December 31, 2022 first 2023, three March 31, 2023 2022 Officer Life Insurance In 2017, March 2017 March 2017. March 2019, January 2021, March 31, 2023 , s of $53.6 million o $8.8 million ng $44.8 million wo two March 31, 2023 December 31, 2022 Supplemental Executive Retirement plan (SERP) On March 29, 2017, March 1, 2017 March 20, 2019, March 1, 2019 March 31, 2023 December 31, 2022 |
Note 10 - Revenue Recognition
Note 10 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 10. The Company adopted ASU 2014 09, 606 606. The majority of the Company’s revenues are generated through interest earned on securities and loans, which is explicitly excluded from the scope of the guidance. In addition, certain non-interest income streams such as fees associated with mortgage servicing rights, loan service charges, life insurance earnings, rental income and gains/losses on the sale of loans and securities are not ● Service charges on deposit accounts – Deposit service charges represent fees charged by the Company for the performance obligation of providing services to a customer’s deposit account. The transaction price for deposit services includes both fixed and variable amounts based on the Company’s fee schedules. Revenue is recognized and payment is received either at a point in time for transactional fees or on a monthly basis for non-transactional fees. ● Interchange fees – Interchange fees represent fees charged by the Company for customers using debit cards. The contract is between the Company and the processor and the performance obligation is the ability of customers to use debit cards to make purchases at a point in time. The transaction price is a percentage of debit card usage and the processor pays the Company and revenue is recorded throughout the month as the performance obligations are being met. ● Fees from trust fiduciary activities – Trust fees represent fees charged by the Company for the management, custody and/or administration of trusts. These are mostly monthly fees based on the market value of assets in the trust account at the prior month end. Payment is generally received a few weeks after month end through a direct charge to customers’ accounts. Estate fees are recognized and charged as the Company reaches each of six ● Fees from financial services – Financial service fees represent fees charged by the Company for the performance obligation of providing various services for an investment account. Revenue is recognized twice monthly for fees on sales transactions and on a monthly basis for advisory fees and quarterly for trail fees. ● Gain/loss on ORE sales – Gain/loss on the sale of ORE is recognized at the closing date when the sales proceeds are received. In seller-financed ORE transactions, the contract is made subject to our normal underwriting standards and pricing. The Company does not Contract balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before the payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity already received payment (or payment is due) from the customer. The Company’s non-interest income streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company typically does not not March 31, 2023 December 31, 2022 not Remaining performance obligations The Company’s performance obligations have an original expected duration of less than one no not Contract acquisition costs An entity is required to capitalize and subsequently amortize into expense, certain incremental costs of obtaining a contract if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not not one |
Note 11 - Leases
Note 11 - Leases | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Lease Disclosure [Text Block] | 11. ASU 2016 02 842 January 1, 2019. not 12 not Management determines if an arrangement is or contains a lease at contract inception. If an arrangement is determined to be or contains a lease, the Company recognizes a ROU asset and a lease liability when the asset is placed in service. The Company’s operating leases, where the Company is lessee, include property, land and equipment. As of March 31, 2023 third The following is an analysis of the leased property under finance leases: (dollars in thousands) March 31, 2023 December 31, 2022 Property and equipment $ 1,695 $ 1,695 Less accumulated depreciation and amortization (666 ) (606 ) Leased property under finance leases, net $ 1,029 $ 1,089 The following is a schedule of future minimum lease payments under finance leases together with the present value of the net minimum lease payments as of March 31, 2023 (dollars in thousands) Amount 2023 $ 163 2024 171 2025 161 2026 150 2027 150 2028 and thereafter 313 Total minimum lease payments (a) 1,108 Less amount representing interest (b) (57 ) Present value of net minimum lease payments $ 1,051 (a) The future minimum lease payments have not (b) Amount necessary to reduce net minimum lease payments to present value calculated at the Company’s incremental borrowing rate upon lease inception. As of March 31, 2023 2022, June 2023. 2022, (dollars in thousands) March 31, 2023 March 31, 2022 Lease cost Finance lease cost: Amortization of right-of-use assets $ 60 $ 63 Interest on lease liabilities 5 6 Operating lease cost 192 184 Short-term lease cost 22 37 Variable lease cost 17 10 Total lease cost $ 296 $ 300 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 5 $ 6 Operating cash flows from operating leases (Fixed payments) $ 176 $ 148 Operating cash flows from operating leases (Liability reduction) $ 94 $ 74 Financing cash flows from finance leases $ 59 $ 59 Right-of-use assets obtained in exchange for new finance lease liabilities $ - $ - Right-of-use assets obtained in exchange for new operating lease liabilities $ - $ - Weighted-average remaining lease term - finance leases (in years) 6.39 6.98 Weighted average remaining lease term - operating leases (in years) 20.48 21.25 Weighted-average discount rate - finance leases 1.70 % 1.77 % Weighted-average discount rate - operating leases 3.39 % 3.39 % During the first three 2023, first three 2022, The future minimum lease payments for the Company’s branch network and equipment under operating leases that have lease terms in excess of one March 31, 2023 (dollars in thousands) Amount 2023 $ 522 2024 657 2025 637 2026 644 2027 653 2028 and thereafter 10,179 Total future minimum lease payments 13,292 Less variable payment adjustment (174 ) Less amount representing interest (3,855 ) Present value of net future minimum lease payments $ 9,263 The Company leases one property, where the Company is lessor, under an operating lease to an unrelated party. The undiscounted cash flows to be received on an annual basis for the property are as follows: (dollars in thousands) Amount 2023 $ 36 2024 51 2025 54 2026 54 2027 27 2028 and thereafter - Total lease payments to be received $ 222 The Company also indirectly originates automobile leases classified as direct finance leases. See Footnote 5, Lease income recognized from direct finance leases was included in interest income from loans and leases on the consolidated statements of income. Lease income related to operating leases is included in fees and other revenue on the consolidated statements of income. The Company only receives a variable payment for taxes from one For the three months ended March 31, (dollars in thousands) 2023 2022 Lease income - direct finance leases Interest income on lease receivables $ 320 $ 225 Lease income - operating leases 12 58 Total lease income $ 332 $ 283 |
Note 12 - Derivative Instrument
Note 12 - Derivative Instruments | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 12. The Company is a party to interest rate derivatives that are not third not may may 820. no third March 31, 2023 Weighted Notional Average Maturity Interest Rate Interest Rate (dollars in thousands) Amount (Years) Paid Received Fair Value March 31, 2023 Classified in Other assets: Customer interest rate swaps $ 1,971 14.67 30 Day SOFR + Margin Fixed $ 154 Classified in Accrued interest payable and other liabilities: Third party interest rate swaps $ 1,971 14.67 Fixed 30 Day SOFR + Margin $ 154 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of operations Fidelity D & D Bancorp, Inc. (the Company) is a bank holding company and the parent of The Fidelity Deposit and Discount Bank (the Bank). The Bank is a commercial bank and trust company chartered under the laws of the Commonwealth of Pennsylvania and a wholly-owned subsidiary of the Company. Having commenced operations in 1903, |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The accompanying unaudited consolidated financial statements of the Company and the Bank have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to this Form 10 8 03 X. not For additional information and disclosures required under U.S. GAAP, refer to the Company’s Annual Report on Form 10 December 31, 2022 Management is responsible for the fairness, integrity and objectivity of the unaudited financial statements included in this report. Management prepared the unaudited financial statements in accordance with U.S. GAAP. In meeting its responsibility for the financial statements, management depends on the Company's accounting systems and related internal controls. These systems and controls are designed to provide reasonable but not In the opinion of management, the consolidated balance sheets as of March 31, 2023 December 31, 2022 three March 31, 2023 2022 three March 31, 2023 2022 2022 2023 In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after March 31, 2023 This Quarterly Report on Form 10 December 31, 2022 10 |
Use of Estimates, Policy [Policy Text Block] | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | A material estimate that is particularly susceptible to significant change relates to the determination of the allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2023 may may |
Marketable Securities, Policy [Policy Text Block] | Another material estimate is the calculation of fair values of the Company’s investment securities. Fair values of investment securities are determined by pricing provided by a third may one may |
Financing Receivable, Held-for-Sale [Policy Text Block] | The fair value of residential mortgage loans, classified as held-for-sale (HFS), is obtained from the Federal National Mortgage Association (FNMA) or the Federal Home Loan Bank (FHLB). Generally, the market to which the Company sells residential mortgages it originates for sale is restricted and price quotes from other sources are not may may may March 31, 2023 December 31, 2022 |
Financing Receivable [Policy Text Block] | Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest income on automobile direct finance leasing is determined using the interest method to arrive at a level effective yield over the life of the lease. The lease residual and the lease receivable, net of unearned lease income, are recorded within loans and leases on the balance sheet. |
Financing Receivable, Held-for-Investment, Foreclosed Asset [Policy Text Block] | Foreclosed assets held-for-sale includes other real estate acquired through foreclosure (ORE) and may, |
Business Combinations Policy [Policy Text Block] | The Company accounts for business combinations under the purchase method of accounting. The application of this method of accounting requires the use of significant estimates and assumptions in the determination of the fair value of assets acquired and liabilities assumed in order to properly allocate purchase price consideration between assets that are amortized, accreted or depreciated from those that are recorded as goodwill. Estimates of the fair values of assets acquired and liabilities assumed are based upon assumptions that management believes to be reasonable. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill is recorded on the consolidated balance sheets as the excess of liabilities assumed over identifiable assets acquired on the acquisition date. Goodwill is recorded at its net carrying value which represents estimated fair value. Goodwill is tested for impairment on at least an annual basis. There was no goodwill impairment as of March 31, 2023 December 31, 2022 |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not 860, 860 not 860, not |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | The Company holds separate supplemental executive retirement (SERP) agreements for certain officers and an amount is credited to each participant’s SERP account monthly while they are actively employed by the bank until retirement. A deferred tax asset is provided for the non-deductible SERP expense. The Company also entered into separate split dollar life insurance arrangements with four executives providing post-retirement benefits and accrues monthly expense for this benefit. The split dollar life insurance expense is not |
Cash and Cash Equivalents, Policy [Policy Text Block] | For purposes of the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. |
Note 3 - Accumulated Other Co_2
Note 3 - Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | As of and for the three months ended March 31, 2023 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ (53,624 ) $ (17,528 ) $ (71,152 ) Other comprehensive gain before reclassifications, net of tax 7,761 452 8,213 Amounts reclassified from accumulated other comprehensive income, net of tax 1 - 1 Net current-period other comprehensive gain 7,762 452 8,214 Ending balance $ (45,862 ) $ (17,076 ) $ (62,938 ) As of and for the three months ended March 31, 2022 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ 179 $ - $ 179 Other comprehensive loss before reclassifications, net of tax (42,676 ) - (42,676 ) Amounts reclassified from accumulated other comprehensive income, net of tax - - - Net current-period other comprehensive loss (42,676 ) - (42,676 ) Ending balance $ (42,497 ) $ - $ (42,497 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about accumulated other comprehensive income components Amount reclassified from accumulated Affected line item in the statement (dollars in thousands) other comprehensive income where net income is presented For the three months ended March 31, 2023 2022 Unrealized gains (losses) on AFS debt securities $ (1 ) $ - Gain (loss) on sale of investment securities Income tax effect - - Provision for income taxes Total reclassifications for the period $ (1 ) $ - Net income |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value March 31, 2023 Held-to-maturity securities: Agency - GSE $ 80,572 $ - $ (7,726 ) $ 72,846 Obligations of states and political subdivisions 142,540 - (21,135 ) 121,405 Total held-to-maturity securities $ 223,112 $ - $ (28,861 ) $ 194,251 Available-for-sale debt securities: Agency - GSE $ 31,108 $ - $ (3,958 ) $ 27,150 Obligations of states and political subdivisions 174,418 5 (20,634 ) 153,789 MBS - GSE residential 243,942 - (33,467 ) 210,475 Total available-for-sale debt securities $ 449,468 $ 5 $ (58,059 ) $ 391,414 Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2022 Held-to-maturity securities: Agency - GSE $ 80,306 $ - $ (9,243 ) $ 71,063 Obligations of states and political subdivisions 142,438 - (26,221 ) 116,217 Total held-to-maturity securities $ 222,744 $ - $ (35,464 ) $ 187,280 Available-for-sale debt securities: Agency - GSE $ 36,076 $ - $ (4,543 ) $ 31,533 Obligations of states and political subdivisions 197,935 501 (26,542 ) 171,894 MBS - GSE residential 254,730 - (37,295 ) 217,435 Total available-for-sale debt securities $ 488,741 $ 501 $ (68,380 ) $ 420,862 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (dollars in thousands) cost value Held-to-maturity securities: Due in one year or less $ - $ - Due after one year through five years 9,818 9,182 Due after five years through ten years 74,339 66,907 Due after ten years 138,955 118,162 Total held-to-maturity securities $ 223,112 $ 194,251 Available-for-sale securities: Debt securities: Due in one year or less $ - $ - Due after one year through five years 20,963 18,959 Due after five years through ten years 37,944 32,248 Due after ten years 146,619 129,732 MBS - GSE residential 243,942 210,475 Total available-for-sale debt securities $ 449,468 $ 391,414 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses March 31, 2023 Agency - GSE $ - $ - $ 99,996 $ (11,684 ) $ 99,996 $ (11,684 ) Obligations of states and political subdivisions 19,043 (1,317 ) 254,498 (40,452 ) 273,541 (41,769 ) MBS - GSE residential 7,208 (380 ) 203,267 (33,087 ) 210,475 (33,467 ) Total $ 26,251 $ (1,697 ) $ 557,761 $ (85,223 ) $ 584,012 $ (86,920 ) Number of securities 45 390 435 December 31, 2022 Agency - GSE $ 9,285 $ (377 ) $ 93,312 $ (13,409 ) $ 102,597 $ (13,786 ) Obligations of states and political subdivisions 170,484 (26,928 ) 112,353 (25,835 ) 282,837 (52,763 ) MBS - GSE residential 61,803 (6,018 ) 155,632 (31,277 ) 217,435 (37,295 ) Total $ 241,572 $ (33,323 ) $ 361,297 $ (70,521 ) $ 602,869 $ (103,844 ) Number of securities 272 213 485 |
Note 5 - Loans and Leases (Tabl
Note 5 - Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (dollars in thousands) March 31, 2023 December 31, 2022 Commercial and industrial: Commercial $ 136,966 $ 166,491 Municipal 110,092 67,987 Commercial real estate: Non-owner occupied 310,289 316,867 Owner occupied 282,200 270,810 Construction 33,192 18,941 Consumer: Home equity installment 59,461 59,118 Home equity line of credit 49,928 52,568 Auto loans - Recourse 12,207 12,929 Auto loans - Non-recourse 125,051 114,909 Direct finance leases 33,905 33,223 Other 13,181 11,709 Residential: Real estate 417,026 398,136 Construction 45,322 42,232 Total 1,628,820 1,565,920 Less: Allowance for credit losses on loans (17,910 ) (17,149 ) Unearned lease revenue (1,821 ) (1,746 ) Loans and leases, net $ 1,609,089 $ 1,547,025 |
Schedule of Unamortized Net Costs and Premiums Included in Loans [Table Text Block] | (dollars in thousands) March 31, 2023 December 31, 2022 Net unamortized fair value mark discount on acquired loans $ (8,037 ) $ (9,064 ) Net unamortized deferred loan origination costs 4,775 4,630 Total $ (3,262 ) $ (4,434 ) |
Financing Receivable, Nonaccrual [Table Text Block] | (dollars in thousands) Nonaccrual With No Allowance for Credit Loss Nonaccrual With Allowance for Credit Loss Total Nonaccrual Loans Past Due Over 89 Days Still Accruing At March 31, 2023 Commercial and industrial: Commercial $ 620 $ 119 $ 739 $ - Municipal - - - - Commercial real estate: Non-owner occupied 143 168 311 - Owner occupied 1,472 476 1,948 - Consumer: Home equity installment - - - - Home equity line of credit 75 - 75 - Auto loans - Recourse 11 - 11 - Auto loans - Non-recourse 120 50 170 - Direct finance leases - - - 17 Other 2 - 2 - Residential: Real estate 86 - 86 - Total $ 2,529 $ 813 $ 3,342 $ 17 (dollars in thousands) Nonaccrual With No Allowance for Credit Loss Nonaccrual With Allowance for Credit Loss Total Nonaccrual Loans Past Due Over 89 Days Still Accruing At December 31, 2022 Commercial and industrial: Commercial $ 580 $ 139 $ 719 $ - Municipal - - - - Commercial real estate: Non-owner occupied 168 215 383 - Owner occupied 716 350 1,066 - Consumer: Home equity installment - - - - Home equity line of credit 211 - 211 - Auto loans - Recourse 135 18 153 - Auto loans - Non-recourse - - - 16 Direct finance leases - - - 17 Other - - - - Residential: Real estate 3 - 3 - Total $ 1,813 $ 722 $ 2,535 $ 33 |
Financing Receivable, Modified [Table Text Block] | Loans modified for the three months ended: (dollars in thousands) March 31, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension Interest Rate Reduction Total Class of Financing Receivable Commercial real estate: Non-owner occupied $ - $ - $ 65 $ 3,261 $ - $ - 1.07 % Total $ - $ - $ 65 $ 3,261 $ - $ - (dollars in thousands) March 31, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - 6.13 % 6 Total $ - 6.13 % 6 |
Financing Receivable, Past Due [Table Text Block] | Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days March 31, 2023 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial: Commercial $ 30 10 739 $ 779 $ 136,187 $ 136,966 $ - Municipal - - - - 110,092 110,092 Commercial real estate: Non-owner occupied - - 311 311 309,978 310,289 - Owner occupied - - 1,948 1,948 280,252 282,200 - Construction - - - - 33,192 33,192 - Consumer: Home equity installment 167 55 - 222 59,239 59,461 - Home equity line of credit 16 - 75 91 49,837 49,928 - Auto loans - Recourse 46 5 11 62 12,145 12,207 - Auto loans - Non-recourse 341 43 170 554 124,497 125,051 - Direct finance leases 102 - 17 119 31,965 32,084 (2) 17 Other 7 5 2 14 13,167 13,181 - Residential: Real estate 22 - 86 108 416,918 417,026 - Construction - - - - 45,322 45,322 - Total $ 731 $ 118 $ 3,359 $ 4,208 $ 1,622,791 $ 1,626,999 $ 17 Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days December 31, 2022 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial Commercial $ - $ - $ 719 $ 719 $ 165,772 $ 166,491 $ - Municipal - - - - 67,987 67,987 - Commercial real estate: Non-owner occupied - - 383 383 316,484 316,867 - Owner occupied 42 - 1,066 1,108 269,702 270,810 - Construction - - - - 18,941 18,941 - Consumer: Home equity installment 239 - - 239 58,879 59,118 - Home equity line of credit 110 151 211 472 52,096 52,568 - Auto loans - Recourse 152 115 11 278 12,651 12,929 - Auto loans - Non-recourse 411 86 158 655 114,254 114,909 16 Direct finance leases 186 - 17 203 31,274 31,477 (2) 17 Other 12 7 - 19 11,690 11,709 - Residential: Real estate - 327 3 330 397,806 398,136 - Construction - - - - 42,232 42,232 - Total $ 1,152 $ 686 $ 2,568 $ 4,406 $ 1,559,768 $ 1,564,174 $ 33 |
Impaired Financing Receivables [Table Text Block] | Recorded Recorded Unpaid investment investment Total principal with with no recorded Related (dollars in thousands) balance allowance allowance investment allowance December 31, 2022 Commercial and industrial $ 942 $ 139 $ 580 $ 719 $ 48 Commercial real estate: Non-owner occupied 762 215 547 762 42 Owner occupied 2,347 1,304 716 2,020 70 Consumer: Home equity installment 33 - - - - Home equity line of credit 255 - 211 211 - Auto loans 213 18 135 153 1 Residential: Real estate 50 - 3 3 - Total $ 4,602 $ 1,676 $ 2,192 $ 3,868 $ 161 March 31, 2022 Cash basis Average Interest interest recorded income income (dollars in thousands) investment recognized recognized Commercial and industrial $ 272 $ - $ - Commercial real estate: Non-owner occupied 2,302 46 - Owner occupied 2,001 27 - Construction - - - Consumer: Home equity installment 16 - - Home equity line of credit 157 - - Auto loans 70 1 - Direct finance leases - - - Other - - - Residential: Real estate 564 25 - Construction - - - Total $ 5,382 $ 99 $ - |
Financing Receivable Credit Quality Indicators [Table Text Block] | (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial and industrial Risk Rating Pass $ 3,619 $ 25,468 $ 27,091 $ 9,752 $ 9,257 $ 14,888 $ 44,165 $ - $ 134,240 Special Mention - 124 - - - - 68 - 192 Substandard - 188 17 - 74 334 1,921 - 2,534 Doubtful - - - - - - - - - Total commercial and industrial $ 3,619 $ 25,780 $ 27,108 $ 9,752 $ 9,331 $ 15,222 $ 46,154 $ - $ 136,966 Commercial and industrial: Current period gross write-offs $ - $ - $ 150 $ 20 $ - $ - $ - $ - $ 170 Commercial and industrial - municipal Risk Rating Pass $ 36,815 $ 20,553 $ 17,295 $ 13,568 $ 1,453 $ 20,408 $ - $ - $ 110,092 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial and industrial - municipal $ 36,815 $ 20,553 $ 17,295 $ 13,568 $ 1,453 $ 20,408 $ - $ - $ 110,092 Commercial and industrial - municipal: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - non-owner occupied Risk Rating Pass $ 3,134 $ 36,530 $ 78,399 $ 47,199 $ 19,616 $ 102,174 $ 8,950 $ - $ 296,002 Special Mention - 65 1,076 335 497 2,207 40 - 4,220 Substandard - - - 278 87 9,702 - - 10,067 Doubtful - - - - - - - - - Total commercial real estate - non-owner occupied $ 3,134 $ 36,595 $ 79,475 $ 47,812 $ 20,200 $ 114,083 $ 8,990 $ - $ 310,289 Commercial real estate - non-owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ 32 $ - $ - $ 32 Commercial real estate - owner occupied Risk Rating Pass $ 4,028 $ 54,840 $ 49,269 $ 30,495 $ 25,025 $ 89,390 $ 14,588 $ - $ 267,635 Special Mention - 29 899 28 - 308 125 - 1,389 Substandard 1,412 - 350 - - 10,779 635 - 13,176 Doubtful - - - - - - - - - Total commercial real estate - owner occupied $ 5,440 $ 54,869 $ 50,518 $ 30,523 $ 25,025 $ 100,477 $ 15,348 $ - $ 282,200 Commercial real estate - owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - construction Risk Rating Pass $ 699 $ 23,405 $ 3,743 $ - $ - $ 2,335 $ 3,010 $ - $ 33,192 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial real estate - construction $ 699 $ 23,405 $ 3,743 $ - $ - $ 2,335 $ 3,010 $ - $ 33,192 Commercial real estate - construction: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Home equity installment Payment performance Performing $ 3,077 $ 20,132 $ 11,323 $ 9,740 $ 4,370 $ 10,819 $ - $ - $ 59,461 Non-performing - - - - - - - - - Total home equity installment $ 3,077 $ 20,132 $ 11,323 $ 9,740 $ 4,370 $ 10,819 $ - $ - $ 59,461 Home equity installment Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Home equity line of credit Payment performance Performing $ - $ - $ - $ - $ - $ - $ 39,325 $ 10,528 $ 49,853 Non-performing - - - - - - 75 - 75 Total home equity line of credit $ - $ - $ - $ - $ - $ - $ 39,400 $ 10,528 $ 49,928 Home equity line of credit Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - recourse Payment performance Performing $ 914 $ 2,778 $ 4,045 $ 2,763 $ 1,254 $ 442 $ - $ - $ 12,196 Non-performing - - - - - 11 - - 11 Total auto loans - recourse $ 914 $ 2,778 $ 4,045 $ 2,763 $ 1,254 $ 453 $ - $ - $ 12,207 Auto loans - recourse Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - non-recourse Payment performance Performing $ 21,786 $ 54,393 $ 23,818 $ 12,427 $ 7,654 $ 4,803 $ - $ - $ 124,881 Non-performing - - 75 65 22 8 - - 170 Total auto loans - non-recourse $ 21,786 $ 54,393 $ 23,893 $ 12,492 $ 7,676 $ 4,811 $ - $ - $ 125,051 Auto loans - non-recourse Current period gross write-offs $ - $ - $ 25 $ 14 $ 10 $ - $ - $ - $ 49 Direct finance leases (1) Payment performance Performing $ 3,804 $ 15,952 $ 10,157 $ 3,465 $ 454 $ 56 $ - $ - $ 33,888 Non-performing - - 17 - - - - - 17 Total direct finance leases $ 3,804 $ 15,952 $ 10,174 $ 3,465 $ 454 $ 56 $ - $ - $ 33,905 Direct finance leases Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer - other Payment performance Performing $ 2,874 $ 4,102 $ 2,078 $ 1,045 $ 792 $ 1,034 $ 1,254 $ - $ 13,179 Non-performing - - - - - 2 - - 2 Total consumer - other $ 2,874 $ 4,102 $ 2,078 $ 1,045 $ 792 $ 1,036 $ 1,254 $ - $ 13,181 Consumer - other Current period gross write-offs $ 3 $ 30 $ 3 $ 3 $ 8 $ 5 $ 52 Residential real estate Payment performance Performing $ 17,499 $ 61,113 $ 132,880 $ 52,928 $ 31,437 $ 121,083 $ - $ - $ 416,940 Non-performing - - - - - 86 - - 86 Total residential real estate $ 17,499 $ 61,113 $ 132,880 $ 52,928 $ 31,437 $ 121,169 $ - $ - $ 417,026 Residential real estate Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential - construction Payment performance Performing $ 742 $ 24,663 $ 14,576 $ 4,471 $ 428 $ 442 $ - $ - $ 45,322 Non-performing - - - - - - - - - Total residential - construction $ 742 $ 24,663 $ 14,576 $ 4,471 $ 428 $ 442 $ - $ - $ 45,322 Residential - construction Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - December 31, 2022 (dollars in thousands) Pass Special mention Substandard Doubtful Total Commercial and industrial $ 231,614 $ 229 $ 2,635 $ - $ 234,478 Commercial real estate - non-owner occupied 301,386 4,227 11,254 - 316,867 Commercial real estate - owner occupied 255,921 803 14,086 - 270,810 Commercial real estate - construction 18,941 - - - 18,941 Total commercial $ 807,862 $ 5,259 $ 27,975 $ - $ 841,096 December 31, 2022 (dollars in thousands) Performing Non-performing Total Consumer Home equity installment $ 59,118 $ - $ 59,118 Home equity line of credit 52,357 211 52,568 Auto loans 131,767 169 131,936 Direct finance leases (2) 31,460 17 31,477 Other 7,611 - 7,611 Total consumer 282,313 397 282,710 Residential Real estate 398,133 3 398,136 Construction 42,232 - 42,232 Total residential 440,365 3 440,368 Total consumer & residential $ 722,678 $ 400 $ 723,078 |
Schedule of Collateral Dependent Loans [Table Text Block] | (dollars in thousands) Real Estate Other Total Collateral-Dependent Non-Accrual Loans At March 31, 2023 Commercial and industrial: Commercial $ - $ 739 $ 739 Municipal - - - Commercial real estate: Non-owner occupied 310 - 310 Owner occupied 1,948 - 1,948 Consumer: Home equity installment - - - Home equity line of credit 75 - 75 Auto loans - Recourse - 11 11 Auto loans - Non-recourse - 171 171 Direct finance leases - - - Other - 2 2 Residential: Real estate 86 - 86 Total $ 2,419 $ 923 $ 3,342 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | As of and for the three months ended March 31, 2023 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Credit Losses: Beginning balance $ 2,924 $ 7,162 $ 2,827 $ 4,169 $ 67 $ 17,149 Impact of adopting ASC 326 278 756 (547 ) 198 (67 ) 618 Initial allowance on loans purchased with credit deterioration - 126 - - - 126 Charge-offs (170 ) (32 ) (101 ) - - (303 ) Recoveries 20 39 72 9 - 140 Provision (credit) for loan losses (502 ) 106 197 307 72 180 Ending balance $ 2,550 $ 8,157 $ 2,448 $ 4,683 $ 72 $ 17,910 Ending balance: individually evaluated $ 42 $ 202 $ 5 $ - $ - $ 249 Ending balance: collectively evaluated $ 2,508 $ 7,955 $ 2,443 $ 4,683 $ 72 $ 17,661 Loans Receivables: Ending balance (2) $ 247,057 $ 625,682 $ 291,912 (1) $ 462,348 $ - $ 1,626,999 Ending balance: individually evaluated $ 772 $ 7,198 $ 259 $ 474 $ - $ 8,703 Ending balance: collectively evaluated $ 246,285 $ 618,484 $ 291,653 $ 461,874 $ - $ 1,618,296 As of and for the year ended December 31, 2022 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 2,204 $ 7,422 $ 2,404 $ 3,508 $ 86 $ 15,624 Charge-offs (371 ) (67 ) (377 ) - - (815 ) Recoveries 11 153 74 2 - 240 Provision 1,080 (346 ) 726 659 (19 ) 2,100 Ending balance $ 2,924 $ 7,162 $ 2,827 $ 4,169 $ 67 $ 17,149 Ending balance: individually evaluated for impairment $ 48 $ 112 $ 1 $ - $ - $ 161 Ending balance: collectively evaluated for impairment $ 2,876 $ 7,050 $ 2,826 $ 4,169 $ 67 $ 16,988 Loans Receivables: Ending balance (2) $ 234,478 $ 606,618 $ 282,710 (1) $ 440,368 $ - $ 1,564,174 Ending balance: individually evaluated for impairment $ 719 $ 2,782 $ 364 $ 3 $ - $ 3,868 Ending balance: collectively evaluated for impairment $ 233,759 $ 603,836 $ 282,346 $ 440,365 $ - $ 1,560,306 As of and for the three months ended March 31, 2022 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 2,204 $ 7,422 $ 2,404 $ 3,508 $ 86 $ 15,624 Charge-offs - (1 ) (94 ) - - (95 ) Recoveries 2 9 14 2 - 27 Provision 574 (608 ) 223 341 (5 ) 525 Ending balance $ 2,780 $ 6,822 $ 2,547 $ 3,851 $ 81 $ 16,081 |
Schedule of Credit Loss on Unfunded Commitments [Table Text Block] | (dollars in thousands) For the Three Months Ended March 31, 2023 For the Three Months Ended March 31, 2022 Beginning balance $ 49 $ 63 Impact of adopting ASC 326 1,060 - Provision (credit) for loan losses 225 (11 ) Ending balance $ 1,334 $ 52 |
Sales-Type and Direct Financing Leases, Payment to be Received, Maturity [Table Text Block] | (dollars in thousands) Amount 2023 $ 8,830 2024 10,916 2025 11,117 2026 2,750 2027 208 2028 and thereafter 27 Total future minimum lease payments receivable 33,848 Less: Unearned income (1,821 ) Undiscounted cash flows to be received $ 32,027 |
Note 6 - Earnings Per Share (Ta
Note 6 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2023 2022 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 7,040 $ 7,522 Weighted-average common shares outstanding 5,649,623 5,655,192 Basic EPS $ 1.25 $ 1.33 Diluted EPS: Net income available to common shareholders $ 7,040 $ 7,522 Weighted-average common shares outstanding 5,649,623 5,655,192 Potentially dilutive common shares 42,480 38,545 Weighted-average common and potentially dilutive shares outstanding 5,692,103 5,693,737 Diluted EPS $ 1.24 $ 1.32 |
Note 7 - Stock Plans (Tables)
Note 7 - Stock Plans (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | March 31, 2023 March 31, 2022 Weighted- Weighted- Shares average grant Shares average grant granted date fair value granted date fair value Director plan - $ - 18,000 (2) $ 49.85 Omnibus plan 18,000 (2) 49.43 16,520 (3) 49.85 Omnibus plan 17,684 (3) 49.43 Omnibus plan 50 (1) 49.43 Total 35,734 $ 49.43 34,520 $ 49.85 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | 2012 & 2022 Stock incentive plans Director Omnibus Total Weighted- average grant date fair value Non-vested balance at December 31, 2022 23,872 38,614 62,486 $ 51.46 Granted - 35,734 35,734 49.43 Forfeited - - - - Vested (9,736 ) (10,713 ) (20,449 ) 53.24 Non-vested balance at March 31, 2023 14,136 63,635 77,771 $ 50.06 |
Share-Based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block] | Awards Weighted-average grant date fair value Weighted-average remaining contractual term (years) Outstanding December 31, 2022 87,133 $ 9.69 4.5 Granted - Exercised - Forfeited - Outstanding March 31, 2023 87,133 $ 9.69 4.3 |
Share-Based Payment Arrangement, Cost by Plan [Table Text Block] | Three months ended March 31, (dollars in thousands) 2023 2022 Stock-based compensation expense: 2012 Director stock incentive plan $ 114 $ 109 2012 Omnibus stock incentive plan 141 165 2022 Omnibus stock incentive plan 156 - Employee stock purchase plan 34 32 Total stock-based compensation expense $ 445 $ 306 |
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | As of (dollars in thousands) March 31, 2023 Unrecognized stock-based compensation expense: 2012 Director stock incentive plan $ 658 2012 Omnibus stock incentive plan 670 2022 Omnibus stock incentive plan 1,611 Total unrecognized stock-based compensation expense $ 2,939 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2023 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 63,038 $ 63,038 $ 63,038 $ - $ - Held-to-maturity securities 223,112 194,251 - 194,251 - Available-for-sale debt securities 391,414 391,414 - 391,414 - Restricted investments in bank stock 5,968 5,968 - 5,968 - Loans and leases, net 1,609,089 1,482,605 - - 1,482,605 Loans held-for-sale 156 160 - 160 - Accrued interest receivable 8,666 8,666 - 8,666 - Interest rate swaps 154 154 - 154 - Financial liabilities: Deposits with no stated maturities 1,986,745 1,986,745 - 1,986,745 - Time deposits 156,346 152,976 - 152,976 - Short-term borrowings 88,989 88,984 - 88,984 - Secured borrowings 7,560 7,655 - - 7,655 Accrued interest payable 686 686 - 686 - Interest rate swaps 154 154 - 154 - December 31, 2022 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 29,091 $ 29,091 $ 29,091 $ - $ - Held-to-maturity securities 222,744 187,280 - 187,280 - Available-for-sale debt securities 420,862 420,862 - 420,862 - Restricted investments in bank stock 5,268 5,268 - 5,268 - Loans and leases, net 1,547,025 1,440,151 - - 1,440,151 Loans held-for-sale 1,637 1,660 - 1,660 - Accrued interest receivable 8,487 8,487 - 8,487 - Interest rate swaps 213 213 - 213 - Financial liabilities: Deposits with no stated maturities 2,049,689 2,049,689 - 2,049,689 - Time deposits 117,224 113,252 - 113,252 - Short-term borrowings 12,940 12,940 - 12,940 - Secured borrowings 7,619 7,275 - - 7,275 Accrued interest payable 448 448 - 448 - Interest rate swaps 213 213 - 213 - |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total carrying value Quoted prices in active markets Significant other observable inputs Significant other unobservable inputs (dollars in thousands) March 31, 2023 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 27,150 $ - $ 27,150 $ - Obligations of states and political subdivisions 153,789 - 153,789 - MBS - GSE residential 210,475 - 210,475 - Total available-for-sale debt securities $ 391,414 $ - $ 391,414 $ - Total carrying value Quoted prices in active markets Significant other observable inputs Significant other unobservable inputs (dollars in thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 31,533 $ - $ 31,533 $ - Obligations of states and political subdivisions 171,894 - 171,894 - MBS - GSE residential 217,435 - 217,435 - Total available-for-sale debt securities $ 420,862 $ - $ 420,862 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) Valuation techniques at March 31, 2023 (Level 1) (Level 2) (Level 3) Individually evaluated loans Fair value of collateral appraised value $ 598 $ - $ - $ 598 Individually evaluated loans Discount cash flow 517 517 Other real estate owned Fair value of asset less selling costs 1 - - 1 Total $ 1,116 $ - $ - $ 1,116 Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) at December 31, 2022 (Level 1) (Level 2) (Level 3) Impaired loans $ 1,515 $ - $ - $ 1,515 Other real estate owned 168 - - 168 Total $ 1,683 $ - $ - $ 1,683 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Lessee, Finance Lease, Assets and Liabilities [Table Text Block] | (dollars in thousands) March 31, 2023 December 31, 2022 Property and equipment $ 1,695 $ 1,695 Less accumulated depreciation and amortization (666 ) (606 ) Leased property under finance leases, net $ 1,029 $ 1,089 |
Finance Lease, Liability, to be Paid, Maturity [Table Text Block] | (dollars in thousands) Amount 2023 $ 163 2024 171 2025 161 2026 150 2027 150 2028 and thereafter 313 Total minimum lease payments (a) 1,108 Less amount representing interest (b) (57 ) Present value of net minimum lease payments $ 1,051 |
Lease, Cost [Table Text Block] | (dollars in thousands) March 31, 2023 March 31, 2022 Lease cost Finance lease cost: Amortization of right-of-use assets $ 60 $ 63 Interest on lease liabilities 5 6 Operating lease cost 192 184 Short-term lease cost 22 37 Variable lease cost 17 10 Total lease cost $ 296 $ 300 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 5 $ 6 Operating cash flows from operating leases (Fixed payments) $ 176 $ 148 Operating cash flows from operating leases (Liability reduction) $ 94 $ 74 Financing cash flows from finance leases $ 59 $ 59 Right-of-use assets obtained in exchange for new finance lease liabilities $ - $ - Right-of-use assets obtained in exchange for new operating lease liabilities $ - $ - Weighted-average remaining lease term - finance leases (in years) 6.39 6.98 Weighted average remaining lease term - operating leases (in years) 20.48 21.25 Weighted-average discount rate - finance leases 1.70 % 1.77 % Weighted-average discount rate - operating leases 3.39 % 3.39 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | (dollars in thousands) Amount 2023 $ 522 2024 657 2025 637 2026 644 2027 653 2028 and thereafter 10,179 Total future minimum lease payments 13,292 Less variable payment adjustment (174 ) Less amount representing interest (3,855 ) Present value of net future minimum lease payments $ 9,263 |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | (dollars in thousands) Amount 2023 $ 36 2024 51 2025 54 2026 54 2027 27 2028 and thereafter - Total lease payments to be received $ 222 |
Lease Income [Table Text Block] | For the three months ended March 31, (dollars in thousands) 2023 2022 Lease income - direct finance leases Interest income on lease receivables $ 320 $ 225 Lease income - operating leases 12 58 Total lease income $ 332 $ 283 |
Note 12 - Derivative Instrume_2
Note 12 - Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Weighted Notional Average Maturity Interest Rate Interest Rate (dollars in thousands) Amount (Years) Paid Received Fair Value March 31, 2023 Classified in Other assets: Customer interest rate swaps $ 1,971 14.67 30 Day SOFR + Margin Fixed $ 154 Classified in Accrued interest payable and other liabilities: Third party interest rate swaps $ 1,971 14.67 Fixed 30 Day SOFR + Margin $ 154 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Critical Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Sep. 30, 2022 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | |
Executive Officer [Member] | |||
Number of Individuals with Split Dollar Life Insurance Arrangement | 4 | 4 |
Note 2 - New Accounting Prono_2
Note 2 - New Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||
Retained Earnings (Accumulated Deficit) | $ 123,416 | $ 119,754 | |||||
Financing Receivable, Allowance for Credit Loss | 17,910 | 17,149 | $ 16,081 | $ 15,624 | |||
Off-Balance-Sheet, Credit Loss, Liability | 1,334 | 49 | $ 52 | 63 | |||
Financing Receivable, before Allowance for Credit Loss | 1,626,999 | [1],[2] | 1,564,174 | [3],[4] | |||
Loans Receivable with Variable Rates of Interest | $ 35,000 | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||
Financing Receivable, Allowance for Credit Loss | 618 | ||||||
Off-Balance-Sheet, Credit Loss, Liability | $ 1,060 | $ 0 | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Retained Earnings (Accumulated Deficit) | $ (1,300) | ||||||
Financing Receivable, Allowance for Credit Loss | (500) | ||||||
Off-Balance-Sheet, Credit Loss, Liability | (800) | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||
Financing Receivable, before Allowance for Credit Loss | $ 100 | ||||||
[1]Includes $4.8 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.8 million.[3]Includes $4.6 million of net deferred loan costs.[4]Includes net deferred loan costs of $4.6 million. |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Balance | $ 162,950 | $ 211,729 |
Other comprehensive income (loss), net of tax | 8,214 | (42,676) |
Balance | 175,887 | 175,243 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Balance | (53,624) | 179 |
Other comprehensive gain before reclassifications, net of tax | 7,761 | (42,676) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 1 | 0 |
Other comprehensive income (loss), net of tax | 7,762 | (42,676) |
Balance | (45,862) | (42,497) |
AOCI, Gain (Loss), Debt Securities, Securities Transferred To Held-to-maturity [Member] | ||
Balance | (17,528) | 0 |
Other comprehensive gain before reclassifications, net of tax | 452 | 0 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 0 | 0 |
Other comprehensive income (loss), net of tax | 452 | 0 |
Balance | (17,076) | 0 |
AOCI Attributable to Parent [Member] | ||
Balance | (71,152) | 179 |
Other comprehensive gain before reclassifications, net of tax | 8,213 | (42,676) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 1 | 0 |
Other comprehensive income (loss), net of tax | 8,214 | (42,676) |
Balance | $ (62,938) | $ (42,497) |
Note 3 - Accumulated Other Co_4
Note 3 - Accumulated Other Comprehensive Income - Amount Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Gain (loss) on sale of investment securities | $ (1) | $ 0 |
Provision for income taxes | 1,212 | 1,144 |
Net income | 7,040 | 7,522 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Gain (loss) on sale of investment securities | (1) | 0 |
Provision for income taxes | 0 | 0 |
Net income | $ (1) | $ 0 |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) $ in Thousands | Apr. 01, 2022 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss | $ 0 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 435 | 485 | |
Debt Securities, Available-for-sale, Amortized Cost, Transfer, Amount | $ 245,500 | ||
Debt Securities, Available-for-Sale, Amortized Cost, Net of Gain (Loss), Transfer | 221,700 | ||
Debt Securities, Available-for-Sale, Transfer to Held to Maturity, Gain (Loss) | $ 18,900 | ||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 0 | ||
US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 46 | ||
US Government Agencies Debt Securities [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1046 | ||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 136 | ||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1372 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 253 | ||
US States and Political Subdivisions Debt Securities [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1325 | ||
Asset Pledged as Collateral [Member] | Deposits [Member] | |||
Financial Instruments, Owned, at Fair Value | $ 409,700 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Held-to-maturity securities (fair value of $194,251 in 2023; $187,280 in 2022) | $ 223,112 | $ 222,744 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (28,861) | (35,464) |
Held to maturity securities, fair value | 194,251 | 187,280 |
Available for sale securities, amortized cost | 449,468 | 488,741 |
Available for sale debt securities, gross unrealized gains | 5 | 501 |
Available for sale securities, gross unrealized losses | (58,059) | (68,380) |
Available for sale debt security, fair value | 391,414 | 420,862 |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity securities (fair value of $194,251 in 2023; $187,280 in 2022) | 80,572 | 80,306 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (7,726) | (9,243) |
Held to maturity securities, fair value | 72,846 | 71,063 |
Available for sale securities, amortized cost | 31,108 | 36,076 |
Available for sale debt securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (3,958) | (4,543) |
Available for sale debt security, fair value | 27,150 | 31,533 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held-to-maturity securities (fair value of $194,251 in 2023; $187,280 in 2022) | 142,540 | 142,438 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (21,135) | (26,221) |
Held to maturity securities, fair value | 121,405 | 116,217 |
Available for sale securities, amortized cost | 174,418 | 197,935 |
Available for sale debt securities, gross unrealized gains | 5 | 501 |
Available for sale securities, gross unrealized losses | (20,634) | (26,542) |
Available for sale debt security, fair value | 153,789 | 171,894 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities, amortized cost | 243,942 | 254,730 |
Available for sale debt securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (33,467) | (37,295) |
Available for sale debt security, fair value | $ 210,475 | $ 217,435 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Summary of Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Due in one year or less | $ 0 | |
Due in one year or less | 0 | |
Due after one year through five years | 9,818 | |
Due after one year through five years | 9,182 | |
Due after five years through ten years | 74,339 | |
Due after five years through ten years | 66,907 | |
Due after ten years | 138,955 | |
Due after ten years | 118,162 | |
Total held-to-maturity securities | 223,112 | |
Total held-to-maturity securities | 194,251 | |
Due in one year or less | 0 | |
Due in one year or less | 0 | |
Due after one year through five years | 20,963 | |
Due after one year through five years | 18,959 | |
Due after five years through ten years | 37,944 | |
Due after five years through ten years | 32,248 | |
Due after ten years | 146,619 | |
Due after ten years | 129,732 | |
MBS - GSE residential, amortized cost | 243,942 | |
MBS - GSE residential, fair value | 210,475 | |
Total available-for-sale debt securities, amortized cost | 449,468 | $ 488,741 |
Total available-for-sale debt securities, fair value | $ 391,414 | $ 420,862 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Continuous Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Unrealized loss position, fair value, less than 12 months | $ 26,251 | $ 241,572 |
Unrealized loss position, unrealized losses, less than 12 months | (1,697) | (33,323) |
Unrealized loss position, fair value, more than 12 months | 557,761 | 361,297 |
Unrealized loss position, unrealized losses, more than 12 months | (85,223) | (70,521) |
Unrealized loss position, fair value | 584,012 | 602,869 |
Unrealized loss position, unrealized losses | $ (86,920) | $ (103,844) |
Number of securities, less than 12 months | 45 | 272 |
Number of securities, more than 12 months | 390 | 213 |
Number of securities | 435 | 485 |
US Government Agencies Debt Securities [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 0 | $ 9,285 |
Unrealized loss position, unrealized losses, less than 12 months | 0 | (377) |
Unrealized loss position, fair value, more than 12 months | 99,996 | 93,312 |
Unrealized loss position, unrealized losses, more than 12 months | (11,684) | (13,409) |
Unrealized loss position, fair value | 99,996 | 102,597 |
Unrealized loss position, unrealized losses | $ (11,684) | (13,786) |
Number of securities | 46 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 19,043 | 170,484 |
Unrealized loss position, unrealized losses, less than 12 months | (1,317) | (26,928) |
Unrealized loss position, fair value, more than 12 months | 254,498 | 112,353 |
Unrealized loss position, unrealized losses, more than 12 months | (40,452) | (25,835) |
Unrealized loss position, fair value | 273,541 | 282,837 |
Unrealized loss position, unrealized losses | $ (41,769) | (52,763) |
Number of securities | 253 | |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 7,208 | 61,803 |
Unrealized loss position, unrealized losses, less than 12 months | (380) | (6,018) |
Unrealized loss position, fair value, more than 12 months | 203,267 | 155,632 |
Unrealized loss position, unrealized losses, more than 12 months | (33,087) | (31,277) |
Unrealized loss position, fair value | 210,475 | 217,435 |
Unrealized loss position, unrealized losses | $ (33,467) | $ (37,295) |
Number of securities | 136 |
Note 5 - Loans and Leases (Deta
Note 5 - Loans and Leases (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 5,300 | $ 4,500 |
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | 467,700 | 465,700 |
Servicing Asset | $ 1,500 | 1,600 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Positive Change In Collateral Value , Number of Loans | 1 | |
Financing Receivables, Modifications, Number of Contracts | 0 | |
Financing Receivables, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | |
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (8,037) | (9,064) |
Financing Receivable, Unamortized Loan Cost (Fee) | 4,775 | 4,630 |
Impaired Financing Receivable, Recorded Investment | 3,868 | |
Direct Financing Lease, Net Investment in Lease, before Allowance for Credit Loss | 7,500 | 7,900 |
Direct Financing Lease, Residual Value of Leased Asset | 24,500 | 23,600 |
Accrual [Member] | ||
Financing Receivable, Modified, Accumulated | 1,400 | |
Nonaccrual [Member] | ||
Impaired Financing Receivable, Recorded Investment | 2,500 | |
Financing Receivable, Modified, Accumulated | $ 200 | |
Number of Loans Classified as Troubled Debt Restructuring | 1 | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||
Financing Receivable, Unamortized Purchase Premium (Discount) | $ 1,800 | $ 1,700 |
Note 5 - Loans and Leases - Cla
Note 5 - Loans and Leases - Classifications of Loans and Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Notes receivable, gross | $ 1,628,820 | $ 1,565,920 | |||
Allowance for credit losses on loans | (17,910) | (17,149) | $ (16,081) | $ (15,624) | |
Unearned lease revenue | (1,821) | (1,746) | |||
Loans and leases, net | 1,609,089 | 1,547,025 | |||
Commercial Portfolio Segment [Member] | |||||
Allowance for credit losses on loans | (2,550) | (2,924) | (2,780) | (2,204) | |
Loans and leases, net | 234,478 | ||||
Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Notes receivable, gross | 136,966 | 166,491 | |||
Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Notes receivable, gross | 110,092 | 67,987 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Allowance for credit losses on loans | (8,157) | (7,162) | (6,822) | (7,422) | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Notes receivable, gross | 310,289 | 316,867 | |||
Loans and leases, net | 316,867 | ||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Notes receivable, gross | 282,200 | 270,810 | |||
Loans and leases, net | 270,810 | ||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Notes receivable, gross | 33,192 | 18,941 | |||
Loans and leases, net | 18,941 | ||||
Consumer Portfolio Segment [Member] | |||||
Allowance for credit losses on loans | (2,448) | (2,827) | (2,547) | (2,404) | |
Loans and leases, net | 282,710 | ||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Notes receivable, gross | 59,461 | 59,118 | |||
Loans and leases, net | 59,118 | ||||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Notes receivable, gross | 49,928 | 52,568 | |||
Loans and leases, net | 52,568 | ||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||
Loans and leases, net | 131,936 | ||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Notes receivable, gross | 12,207 | 12,929 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Notes receivable, gross | 125,051 | 114,909 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Notes receivable, gross | 33,905 | 33,223 | |||
Loans and leases, net | [1] | 31,477 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Notes receivable, gross | 13,181 | 11,709 | |||
Loans and leases, net | 7,611 | ||||
Residential Portfolio Segment [Member] | |||||
Allowance for credit losses on loans | (4,683) | (4,169) | $ (3,851) | $ (3,508) | |
Loans and leases, net | 440,368 | ||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Notes receivable, gross | 45,322 | 42,232 | |||
Loans and leases, net | 42,232 | ||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Notes receivable, gross | $ 417,026 | 398,136 | |||
Loans and leases, net | $ 398,136 | ||||
[1]Net of unearned lease revenue of $1.7 million. |
Note 5 - Loans and Leases - Una
Note 5 - Loans and Leases - Unamortized Nets Costs and Premiums Included in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (8,037) | $ (9,064) |
Financing Receivable, Unamortized Loan Cost (Fee) | 4,775 | 4,630 |
Total | $ (3,262) | $ (4,434) |
Note 5 - Loans and Leases - Non
Note 5 - Loans and Leases - Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Nonaccrual with no allowance | $ 2,529 | $ 1,813 |
Nonaccrual with allowance | 813 | 722 |
Nonaccrual loans | 3,342 | 2,535 |
Loans Past Due and Still Accruing | 17 | 33 |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Nonaccrual with no allowance | 620 | 580 |
Nonaccrual with allowance | 119 | 139 |
Nonaccrual loans | 739 | 719 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Municipal [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||
Nonaccrual with no allowance | 143 | 168 |
Nonaccrual with allowance | 168 | 215 |
Nonaccrual loans | 311 | 383 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||
Nonaccrual with no allowance | 1,472 | 716 |
Nonaccrual with allowance | 476 | 350 |
Nonaccrual loans | 1,948 | 1,066 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Nonaccrual with no allowance | 75 | 211 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 75 | 211 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||
Nonaccrual with no allowance | 11 | 135 |
Nonaccrual with allowance | 0 | 18 |
Nonaccrual loans | 11 | 153 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||
Nonaccrual with no allowance | 120 | 0 |
Nonaccrual with allowance | 50 | 0 |
Nonaccrual loans | 170 | 0 |
Loans Past Due and Still Accruing | 0 | 16 |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans Past Due and Still Accruing | 17 | 17 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||
Nonaccrual with no allowance | 2 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 2 | 0 |
Loans Past Due and Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Nonaccrual with no allowance | 86 | 3 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 86 | 3 |
Loans Past Due and Still Accruing | $ 0 | $ 0 |
Note 5 - Loans and Leases - Tro
Note 5 - Loans and Leases - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
TDR percent | |
Principal Forgiveness | $ 0 |
Weighted-Average Interest Rate Reduction | 6.13% |
Weighted-Average Term Extension (Month) | 6 months |
Principal Forgiveness [Member] | |
TDRs amount | $ 0 |
Payment Deferral [Member] | |
TDRs amount | 0 |
Extended Maturity [Member] | |
TDRs amount | 65 |
Contractual Interest Rate Reduction [Member] | |
TDRs amount | 3,261 |
Extended Maturity and Principal Forgiveness [Member] | |
TDRs amount | 0 |
Extended Maturity and Interest Rate Reduction [Member] | |
TDRs amount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |
TDR percent | 1.07% |
Principal Forgiveness | $ 0 |
Weighted-Average Interest Rate Reduction | 6.13% |
Weighted-Average Term Extension (Month) | 6 months |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Principal Forgiveness [Member] | |
TDRs amount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Payment Deferral [Member] | |
TDRs amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity [Member] | |
TDRs amount | 65 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Contractual Interest Rate Reduction [Member] | |
TDRs amount | 3,261 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity and Principal Forgiveness [Member] | |
TDRs amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity and Interest Rate Reduction [Member] | |
TDRs amount | $ 0 |
Note 5 - Loans and Leases - Pas
Note 5 - Loans and Leases - Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | |||
Loans, gross | $ 1,626,999 | [1],[2] | $ 1,564,174 | [3],[4] | |
Loans Past Due and Still Accruing | 17 | 33 | |||
Commercial Portfolio Segment [Member] | |||||
Loans, gross | 247,057 | [1] | 234,478 | [3] | |
Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 136,966 | [2] | 166,491 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 110,092 | [2] | 67,987 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans, gross | 625,682 | [1] | 606,618 | [3] | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 310,289 | [2] | 316,867 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 282,200 | [2] | 270,810 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 33,192 | [2] | 18,941 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | |||||
Loans, gross | 291,912 | [1],[5] | 282,710 | [3],[6] | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 59,461 | [2] | 59,118 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 49,928 | [2] | 52,568 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 12,207 | [2] | 12,929 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 125,051 | [2] | 114,909 | [4] | |
Loans Past Due and Still Accruing | 0 | 16 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | [2],[7] | 32,084 | |||
Loans Past Due and Still Accruing | 17 | ||||
Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 13,181 | [2] | 11,709 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 33,905 | [7] | 31,477 | [4],[6] | |
Loans Past Due and Still Accruing | 17 | 17 | |||
Residential Portfolio Segment [Member] | |||||
Loans, gross | 462,348 | [1] | 440,368 | [3] | |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 45,322 | [2] | 42,232 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | 417,026 | [2] | 398,136 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | |||||
Loans, gross | 731 | 1,152 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 30 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 0 | 42 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 167 | 239 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 16 | 110 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 46 | 152 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 341 | 411 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 102 | ||||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 7 | 12 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 186 | ||||
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | 22 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | |||||
Loans, gross | 118 | 686 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 10 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 55 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 0 | 151 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 5 | 115 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 43 | 86 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 0 | ||||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 5 | 7 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 0 | ||||
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | 0 | 327 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Loans, gross | [8] | 3,359 | 2,568 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | [8] | 739 | 719 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | [8] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | [8] | 311 | 383 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | [8] | 1,948 | 1,066 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | [8] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | [8] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | [8] | 75 | 211 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | [8] | 11 | 11 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | [8] | 170 | 158 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | [8] | 17 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | [8] | 2 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | [8] | 17 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | [8] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | [8] | 86 | 3 | ||
Financial Asset, Past Due [Member] | |||||
Loans, gross | 4,208 | 4,406 | |||
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 779 | 719 | |||
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 311 | 383 | |||
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 1,948 | 1,108 | |||
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 222 | 239 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 91 | 472 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 62 | 278 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 554 | 655 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 119 | ||||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 14 | 19 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 203 | ||||
Financial Asset, Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | 108 | 330 | |||
Financial Asset, Not Past Due [Member] | |||||
Loans, gross | 1,622,791 | 1,559,768 | |||
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 136,187 | 165,772 | |||
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 110,092 | 67,987 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 309,978 | 316,484 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 280,252 | 269,702 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 33,192 | 18,941 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 59,239 | 58,879 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 49,837 | 52,096 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 12,145 | 12,651 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 124,497 | 114,254 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 31,965 | ||||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 13,167 | 11,690 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 31,274 | ||||
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 45,322 | 42,232 | |||
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | $ 416,918 | $ 397,806 | |||
[1]Includes $4.8 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.8 million.[3]Includes $4.6 million of net deferred loan costs.[4]Includes net deferred loan costs of $4.6 million.[5]Net of unearned lease revenue of $1.8 million[6]Net of unearned lease revenue of $1.7 million.[7]Net of unearned lease revenue of $1.8 million.[8]Includes non-accrual loans. |
Note 5 - Loans and Leases - Imp
Note 5 - Loans and Leases - Impaired Loans (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Unpaid principal balance | $ 4,602 |
Recorded investment with allowance | 1,676 |
Recorded investment with no allowance | 2,192 |
Total recorded investment | 3,868 |
Related allowance | 161 |
Average recorded investment | 5,382 |
Interest income recognized | 99 |
Cash basis interest income recognized | 0 |
Commercial Portfolio Segment [Member] | |
Unpaid principal balance | 942 |
Recorded investment with allowance | 139 |
Recorded investment with no allowance | 580 |
Total recorded investment | 719 |
Related allowance | 48 |
Average recorded investment | 272 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |
Unpaid principal balance | 762 |
Recorded investment with allowance | 215 |
Recorded investment with no allowance | 547 |
Total recorded investment | 762 |
Related allowance | 42 |
Average recorded investment | 2,302 |
Interest income recognized | 46 |
Cash basis interest income recognized | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |
Unpaid principal balance | 2,347 |
Recorded investment with allowance | 1,304 |
Recorded investment with no allowance | 716 |
Total recorded investment | 2,020 |
Related allowance | 70 |
Average recorded investment | 2,001 |
Interest income recognized | 27 |
Cash basis interest income recognized | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |
Average recorded investment | 0 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |
Unpaid principal balance | 33 |
Recorded investment with allowance | 0 |
Recorded investment with no allowance | 0 |
Total recorded investment | 0 |
Related allowance | 0 |
Average recorded investment | 16 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |
Unpaid principal balance | 255 |
Recorded investment with allowance | 0 |
Recorded investment with no allowance | 211 |
Total recorded investment | 211 |
Related allowance | 0 |
Average recorded investment | 157 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |
Unpaid principal balance | 213 |
Recorded investment with allowance | 18 |
Recorded investment with no allowance | 135 |
Total recorded investment | 153 |
Related allowance | 1 |
Average recorded investment | 70 |
Interest income recognized | 1 |
Cash basis interest income recognized | 0 |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |
Average recorded investment | 0 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | |
Average recorded investment | 0 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |
Average recorded investment | 0 |
Interest income recognized | 0 |
Cash basis interest income recognized | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |
Unpaid principal balance | 50 |
Recorded investment with allowance | 0 |
Recorded investment with no allowance | 3 |
Total recorded investment | 3 |
Related allowance | 0 |
Average recorded investment | 564 |
Interest income recognized | 25 |
Cash basis interest income recognized | $ 0 |
Note 5 - Loans and Leases - Cre
Note 5 - Loans and Leases - Credit Risk Profile (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||||
Financing Receivable, before Allowance for Credit Loss | $ 1,626,999 | [1],[2] | $ 1,564,174 | [3],[4] | ||
Current period gross write-offs | 303 | $ 95 | 815 | |||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 1,609,089 | 1,547,025 | ||||
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss | 247,057 | [1] | 234,478 | [3] | ||
Current period gross write-offs | 170 | 0 | 371 | |||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 234,478 | |||||
Commercial Portfolio Segment [Member] | Commercial [Member] | ||||||
Current year | 3,619 | |||||
Year two | 25,780 | |||||
Year three | 27,108 | |||||
Year four | 9,752 | |||||
Year five | 9,331 | |||||
Prior | 15,222 | |||||
Revolving loans | 46,154 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 136,966 | [2] | 166,491 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 150 | |||||
Current period gross write-offs, year four | 20 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 170 | |||||
Commercial Portfolio Segment [Member] | Municipal [Member] | ||||||
Current year | 36,815 | |||||
Year two | 20,553 | |||||
Year three | 17,295 | |||||
Year four | 13,568 | |||||
Year five | 1,453 | |||||
Prior | 20,408 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 110,092 | [2] | 67,987 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Commercial Portfolio Segment [Member] | Pass [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 231,614 | |||||
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial [Member] | ||||||
Current year | 3,619 | |||||
Year two | 25,468 | |||||
Year three | 27,091 | |||||
Year four | 9,752 | |||||
Year five | 9,257 | |||||
Prior | 14,888 | |||||
Revolving loans | 44,165 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 134,240 | |||||
Commercial Portfolio Segment [Member] | Pass [Member] | Municipal [Member] | ||||||
Current year | 36,815 | |||||
Year two | 20,553 | |||||
Year three | 17,295 | |||||
Year four | 13,568 | |||||
Year five | 1,453 | |||||
Prior | 20,408 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 110,092 | |||||
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 229 | |||||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial [Member] | ||||||
Current year | 0 | |||||
Year two | 124 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 68 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 192 | |||||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Municipal [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Commercial Portfolio Segment [Member] | Substandard [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 2,635 | |||||
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial [Member] | ||||||
Current year | 0 | |||||
Year two | 188 | |||||
Year three | 17 | |||||
Year four | 0 | |||||
Year five | 74 | |||||
Prior | 334 | |||||
Revolving loans | 1,921 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 2,534 | |||||
Commercial Portfolio Segment [Member] | Substandard [Member] | Municipal [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Commercial [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Municipal [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss | 291,912 | [1],[5] | 282,710 | [3],[6] | ||
Current period gross write-offs | 101 | 94 | 377 | |||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 282,710 | |||||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 282,313 | |||||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 397 | |||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||||||
Current year | 3,077 | |||||
Year two | 20,132 | |||||
Year three | 11,323 | |||||
Year four | 9,740 | |||||
Year five | 4,370 | |||||
Prior | 10,819 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 59,461 | [2] | 59,118 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 59,118 | |||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Performing Financial Instruments [Member] | ||||||
Current year | 3,077 | |||||
Year two | 20,132 | |||||
Year three | 11,323 | |||||
Year four | 9,740 | |||||
Year five | 4,370 | |||||
Prior | 10,819 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 59,461 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 59,118 | |||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 39,400 | |||||
Revolving loans converted to term | 10,528 | |||||
Financing Receivable, before Allowance for Credit Loss | 49,928 | [2] | 52,568 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 52,568 | |||||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Performing Financial Instruments [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 39,325 | |||||
Revolving loans converted to term | 10,528 | |||||
Financing Receivable, before Allowance for Credit Loss | 49,853 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 52,357 | |||||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 75 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 75 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 211 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 131,936 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||||||
Current year | 914 | |||||
Year two | 2,778 | |||||
Year three | 4,045 | |||||
Year four | 2,763 | |||||
Year five | 1,254 | |||||
Prior | 453 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 12,207 | [2] | 12,929 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||||||
Current year | 21,786 | |||||
Year two | 54,393 | |||||
Year three | 23,893 | |||||
Year four | 12,492 | |||||
Year five | 7,676 | |||||
Prior | 4,811 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 125,051 | [2] | 114,909 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 25 | |||||
Current period gross write-offs, year four | 14 | |||||
Current period gross write-offs, year five | 10 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 49 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 131,767 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | Recourse [Member] | ||||||
Current year | 914 | |||||
Year two | 2,778 | |||||
Year three | 4,045 | |||||
Year four | 2,763 | |||||
Year five | 1,254 | |||||
Prior | 442 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 12,196 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | Nonrecourse [Member] | ||||||
Current year | 21,786 | |||||
Year two | 54,393 | |||||
Year three | 23,818 | |||||
Year four | 12,427 | |||||
Year five | 7,654 | |||||
Prior | 4,803 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 124,881 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 169 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | Recourse [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 11 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 11 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | Nonrecourse [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 75 | |||||
Year four | 65 | |||||
Year five | 22 | |||||
Prior | 8 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 170 | |||||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||||||
Current year | [7] | 3,804 | ||||
Year two | [7] | 15,952 | ||||
Year three | [7] | 10,174 | ||||
Year four | [7] | 3,465 | ||||
Year five | [7] | 454 | ||||
Prior | [7] | 56 | ||||
Revolving loans | [7] | 0 | ||||
Revolving loans converted to term | [7] | 0 | ||||
Financing Receivable, before Allowance for Credit Loss | 33,905 | [7] | 31,477 | [4],[6] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | [6] | 31,477 | ||||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Performing Financial Instruments [Member] | ||||||
Current year | [7] | 3,804 | ||||
Year two | [7] | 15,952 | ||||
Year three | [7] | 10,157 | ||||
Year four | [7] | 3,465 | ||||
Year five | [7] | 454 | ||||
Prior | [7] | 56 | ||||
Revolving loans | [7] | 0 | ||||
Revolving loans converted to term | [7] | 0 | ||||
Financing Receivable, before Allowance for Credit Loss | [7] | 33,888 | ||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | [6] | 31,460 | ||||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current year | [7] | 0 | ||||
Year two | [7] | 0 | ||||
Year three | [7] | 17 | ||||
Year four | [7] | 0 | ||||
Year five | [7] | 0 | ||||
Prior | [7] | 0 | ||||
Revolving loans | [7] | 0 | ||||
Revolving loans converted to term | [7] | 0 | ||||
Financing Receivable, before Allowance for Credit Loss | [7] | 17 | ||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | [6] | 17 | ||||
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||||||
Current year | 2,874 | |||||
Year two | 4,102 | |||||
Year three | 2,078 | |||||
Year four | 1,045 | |||||
Year five | 792 | |||||
Prior | 1,036 | |||||
Revolving loans | 1,254 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 13,181 | [2] | 11,709 | [4] | ||
Current period gross write-offs, current year | 3 | |||||
Current period gross write-offs, year two | 30 | |||||
Current period gross write-offs, year three | 3 | |||||
Current period gross write-offs, year four | 3 | |||||
Current period gross write-offs, year five | 8 | |||||
Current period gross write-offs, prior | 5 | |||||
Current period gross write-offs, revolving | ||||||
Current period gross write-offs, revolving converted to term | ||||||
Current period gross write-offs | 52 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 7,611 | |||||
Consumer Portfolio Segment [Member] | Other Loan [Member] | Performing Financial Instruments [Member] | ||||||
Current year | 2,874 | |||||
Year two | 4,102 | |||||
Year three | 2,078 | |||||
Year four | 1,045 | |||||
Year five | 792 | |||||
Prior | 1,034 | |||||
Revolving loans | 1,254 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 13,179 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 7,611 | |||||
Consumer Portfolio Segment [Member] | Other Loan [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 2 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 2 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss | 625,682 | [1] | 606,618 | [3] | ||
Current period gross write-offs | 32 | 1 | 67 | |||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||||
Current year | 3,134 | |||||
Year two | 36,595 | |||||
Year three | 79,475 | |||||
Year four | 47,812 | |||||
Year five | 20,200 | |||||
Prior | 114,083 | |||||
Revolving loans | 8,990 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 310,289 | [2] | 316,867 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 32 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 32 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 316,867 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||||
Current year | 5,440 | |||||
Year two | 54,869 | |||||
Year three | 50,518 | |||||
Year four | 30,523 | |||||
Year five | 25,025 | |||||
Prior | 100,477 | |||||
Revolving loans | 15,348 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 282,200 | [2] | 270,810 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 270,810 | |||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Current year | 699 | |||||
Year two | 23,405 | |||||
Year three | 3,743 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 2,335 | |||||
Revolving loans | 3,010 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 33,192 | [2] | 18,941 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 18,941 | |||||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Non-owner Occupied [Member] | ||||||
Current year | 3,134 | |||||
Year two | 36,530 | |||||
Year three | 78,399 | |||||
Year four | 47,199 | |||||
Year five | 19,616 | |||||
Prior | 102,174 | |||||
Revolving loans | 8,950 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 296,002 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 301,386 | |||||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied [Member] | ||||||
Current year | 4,028 | |||||
Year two | 54,840 | |||||
Year three | 49,269 | |||||
Year four | 30,495 | |||||
Year five | 25,025 | |||||
Prior | 89,390 | |||||
Revolving loans | 14,588 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 267,635 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 255,921 | |||||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||||||
Current year | 699 | |||||
Year two | 23,405 | |||||
Year three | 3,743 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 2,335 | |||||
Revolving loans | 3,010 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 33,192 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 18,941 | |||||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Non-owner Occupied [Member] | ||||||
Current year | 0 | |||||
Year two | 65 | |||||
Year three | 1,076 | |||||
Year four | 335 | |||||
Year five | 497 | |||||
Prior | 2,207 | |||||
Revolving loans | 40 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 4,220 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 4,227 | |||||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied [Member] | ||||||
Current year | 0 | |||||
Year two | 29 | |||||
Year three | 899 | |||||
Year four | 28 | |||||
Year five | 0 | |||||
Prior | 308 | |||||
Revolving loans | 125 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 1,389 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 803 | |||||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Non-owner Occupied [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 278 | |||||
Year five | 87 | |||||
Prior | 9,702 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 10,067 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 11,254 | |||||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied [Member] | ||||||
Current year | 1,412 | |||||
Year two | 0 | |||||
Year three | 350 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 10,779 | |||||
Revolving loans | 635 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 13,176 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 14,086 | |||||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Non-owner Occupied [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Owner Occupied [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Commercial and Commercial Real Estate Portfolio Segments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 841,096 | |||||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Pass [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 807,862 | |||||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Special Mention [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 5,259 | |||||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Substandard [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 27,975 | |||||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Doubtful [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Residential Portfolio Segment [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss | 462,348 | [1] | 440,368 | [3] | ||
Current period gross write-offs | 0 | $ 0 | 0 | |||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 440,368 | |||||
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 440,365 | |||||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 3 | |||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Current year | 742 | |||||
Year two | 24,663 | |||||
Year three | 14,576 | |||||
Year four | 4,471 | |||||
Year five | 428 | |||||
Prior | 442 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 45,322 | [2] | 42,232 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 42,232 | |||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Performing Financial Instruments [Member] | ||||||
Current year | 742 | |||||
Year two | 24,663 | |||||
Year three | 14,576 | |||||
Year four | 4,471 | |||||
Year five | 428 | |||||
Prior | 442 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 45,322 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 42,232 | |||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 0 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 0 | |||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Current year | 17,499 | |||||
Year two | 61,113 | |||||
Year three | 132,880 | |||||
Year four | 52,928 | |||||
Year five | 31,437 | |||||
Prior | 121,169 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 417,026 | [2] | 398,136 | [4] | ||
Current period gross write-offs, current year | 0 | |||||
Current period gross write-offs, year two | 0 | |||||
Current period gross write-offs, year three | 0 | |||||
Current period gross write-offs, year four | 0 | |||||
Current period gross write-offs, year five | 0 | |||||
Current period gross write-offs, prior | 0 | |||||
Current period gross write-offs, revolving | 0 | |||||
Current period gross write-offs, revolving converted to term | 0 | |||||
Current period gross write-offs | 0 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 398,136 | |||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||||||
Current year | 17,499 | |||||
Year two | 61,113 | |||||
Year three | 132,880 | |||||
Year four | 52,928 | |||||
Year five | 31,437 | |||||
Prior | 121,083 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | 416,940 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 398,133 | |||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||||||
Current year | 0 | |||||
Year two | 0 | |||||
Year three | 0 | |||||
Year four | 0 | |||||
Year five | 0 | |||||
Prior | 86 | |||||
Revolving loans | 0 | |||||
Revolving loans converted to term | 0 | |||||
Financing Receivable, before Allowance for Credit Loss | $ 86 | |||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 3 | |||||
Consumer and Residential Portfolio Segments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 723,078 | |||||
Consumer and Residential Portfolio Segments [Member] | Performing Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | 722,678 | |||||
Consumer and Residential Portfolio Segments [Member] | Nonperforming Financial Instruments [Member] | ||||||
Loans and leases, net (allowance for credit losses of $17,910 in 2023; $17,149 in 2022) | $ 400 | |||||
[1]Includes $4.8 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.8 million.[3]Includes $4.6 million of net deferred loan costs.[4]Includes net deferred loan costs of $4.6 million.[5]Net of unearned lease revenue of $1.8 million[6]Net of unearned lease revenue of $1.7 million.[7]Net of unearned lease revenue of $1.8 million. |
Note 5 - Loans and Leases - Col
Note 5 - Loans and Leases - Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Notes receivable, gross | $ 1,628,820 | $ 1,565,920 |
Real Estate [Member] | ||
Notes receivable, gross | 2,419 | |
Other Collateral [Member] | ||
Notes receivable, gross | 923 | |
Collateral Pledged [Member] | ||
Notes receivable, gross | 3,342 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Notes receivable, gross | 136,966 | 166,491 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Real Estate [Member] | ||
Notes receivable, gross | 0 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 739 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 739 | |
Commercial Portfolio Segment [Member] | Municipal [Member] | ||
Notes receivable, gross | 110,092 | 67,987 |
Commercial Portfolio Segment [Member] | Municipal [Member] | Real Estate [Member] | ||
Notes receivable, gross | 0 | |
Commercial Portfolio Segment [Member] | Municipal [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Commercial Portfolio Segment [Member] | Municipal [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||
Notes receivable, gross | 310,289 | 316,867 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | ||
Notes receivable, gross | 310 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 310 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||
Notes receivable, gross | 282,200 | 270,810 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | ||
Notes receivable, gross | 1,948 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 1,948 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Notes receivable, gross | 59,461 | 59,118 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Notes receivable, gross | 49,928 | 52,568 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Real Estate [Member] | ||
Notes receivable, gross | 75 | |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 75 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||
Notes receivable, gross | 12,207 | 12,929 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 125,051 | 114,909 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Real Estate [Member] | Recourse [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Real Estate [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Other Collateral [Member] | Recourse [Member] | ||
Notes receivable, gross | 11 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Other Collateral [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 171 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Collateral Pledged [Member] | Recourse [Member] | ||
Notes receivable, gross | 11 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Collateral Pledged [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 171 | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||
Notes receivable, gross | 33,905 | 33,223 |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Real Estate [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||
Notes receivable, gross | 13,181 | 11,709 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Other Loan [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 2 | |
Consumer Portfolio Segment [Member] | Other Loan [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 2 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Notes receivable, gross | 417,026 | $ 398,136 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 86 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | $ 86 |
Note 5 - Loans and Leases - Cha
Note 5 - Loans and Leases - Change in Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |||
Beginning balance | $ 17,149 | $ 15,624 | $ 15,624 | ||
Initial allowance on loans purchased with credit deterioration | 126 | ||||
Charge-offs | (303) | (95) | (815) | ||
Recoveries | 140 | 27 | 240 | ||
Provision for credit losses on loans | 180 | 525 | |||
Ending balance | 17,910 | 16,081 | 17,149 | ||
Ending balance: individually evaluated | 249 | 161 | |||
Ending balance: collectively evaluated | 17,661 | 16,988 | |||
Financing Receivable, before Allowance for Credit Loss | 1,626,999 | [1],[2] | 1,564,174 | [3],[4] | |
Ending balance: individually evaluated | 8,703 | 3,868 | |||
Ending balance: collectively evaluated | 1,618,296 | 1,560,306 | |||
Provision | 525 | 2,100 | |||
Ending balance: individually evaluated for impairment | 249 | 161 | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Beginning balance | 618 | ||||
Ending balance | 618 | ||||
Commercial Portfolio Segment [Member] | |||||
Beginning balance | 2,924 | 2,204 | 2,204 | ||
Initial allowance on loans purchased with credit deterioration | 0 | ||||
Charge-offs | (170) | 0 | (371) | ||
Recoveries | 20 | 2 | 11 | ||
Provision for credit losses on loans | (502) | ||||
Ending balance | 2,550 | 2,780 | 2,924 | ||
Ending balance: individually evaluated | 42 | 48 | |||
Ending balance: collectively evaluated | 2,508 | 2,876 | |||
Financing Receivable, before Allowance for Credit Loss | 247,057 | [1] | 234,478 | [3] | |
Ending balance: individually evaluated | 772 | 719 | |||
Ending balance: collectively evaluated | 246,285 | 233,759 | |||
Provision | 574 | 1,080 | |||
Ending balance: individually evaluated for impairment | 42 | 48 | |||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Beginning balance | 278 | ||||
Ending balance | 278 | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 7,162 | 7,422 | 7,422 | ||
Initial allowance on loans purchased with credit deterioration | 126 | ||||
Charge-offs | (32) | (1) | (67) | ||
Recoveries | 39 | 9 | 153 | ||
Provision for credit losses on loans | 106 | ||||
Ending balance | 8,157 | 6,822 | 7,162 | ||
Ending balance: individually evaluated | 202 | 112 | |||
Ending balance: collectively evaluated | 7,955 | 7,050 | |||
Financing Receivable, before Allowance for Credit Loss | 625,682 | [1] | 606,618 | [3] | |
Ending balance: individually evaluated | 7,198 | 2,782 | |||
Ending balance: collectively evaluated | 618,484 | 603,836 | |||
Provision | (608) | (346) | |||
Ending balance: individually evaluated for impairment | 202 | 112 | |||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Beginning balance | 756 | ||||
Ending balance | 756 | ||||
Consumer Portfolio Segment [Member] | |||||
Beginning balance | 2,827 | 2,404 | 2,404 | ||
Initial allowance on loans purchased with credit deterioration | 0 | ||||
Charge-offs | (101) | (94) | (377) | ||
Recoveries | 72 | 14 | 74 | ||
Provision for credit losses on loans | 197 | ||||
Ending balance | 2,448 | 2,547 | 2,827 | ||
Ending balance: individually evaluated | 5 | 1 | |||
Ending balance: collectively evaluated | 2,443 | 2,826 | |||
Financing Receivable, before Allowance for Credit Loss | 291,912 | [1],[5] | 282,710 | [3],[6] | |
Ending balance: individually evaluated | 259 | 364 | |||
Ending balance: collectively evaluated | 291,653 | 282,346 | |||
Provision | 223 | 726 | |||
Ending balance: individually evaluated for impairment | 5 | 1 | |||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Beginning balance | (547) | ||||
Ending balance | (547) | ||||
Residential Portfolio Segment [Member] | |||||
Beginning balance | 4,169 | 3,508 | 3,508 | ||
Initial allowance on loans purchased with credit deterioration | 0 | ||||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 9 | 2 | 2 | ||
Provision for credit losses on loans | 307 | ||||
Ending balance | 4,683 | 3,851 | 4,169 | ||
Ending balance: individually evaluated | 0 | 0 | |||
Ending balance: collectively evaluated | 4,683 | 4,169 | |||
Financing Receivable, before Allowance for Credit Loss | 462,348 | [1] | 440,368 | [3] | |
Ending balance: individually evaluated | 474 | 3 | |||
Ending balance: collectively evaluated | 461,874 | 440,365 | |||
Provision | 341 | 659 | |||
Ending balance: individually evaluated for impairment | 0 | 0 | |||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Beginning balance | 198 | ||||
Ending balance | 198 | ||||
Unallocated Financing Receivables [Member] | |||||
Beginning balance | 67 | 86 | 86 | ||
Initial allowance on loans purchased with credit deterioration | 0 | ||||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Provision for credit losses on loans | 72 | ||||
Ending balance | 72 | 81 | 67 | ||
Ending balance: individually evaluated | 0 | 0 | |||
Ending balance: collectively evaluated | 72 | 67 | |||
Financing Receivable, before Allowance for Credit Loss | 0 | [1] | 0 | [3] | |
Ending balance: individually evaluated | 0 | 0 | |||
Ending balance: collectively evaluated | 0 | 0 | |||
Provision | $ (5) | (19) | |||
Ending balance: individually evaluated for impairment | 0 | 0 | |||
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Beginning balance | $ (67) | ||||
Ending balance | $ (67) | ||||
[1]Includes $4.8 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.8 million.[3]Includes $4.6 million of net deferred loan costs.[4]Includes net deferred loan costs of $4.6 million.[5]Net of unearned lease revenue of $1.8 million[6]Net of unearned lease revenue of $1.7 million. |
Note 5 - Loans and Leases - C_2
Note 5 - Loans and Leases - Credit Loss on Unfunded Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Beginning balance | $ 49 | $ 63 |
Provision (credit) for loan losses | 225 | (11) |
Ending balance | 1,334 | 52 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | $ 1,060 | $ 0 |
Note 5 - Loans and Leases - Und
Note 5 - Loans and Leases - Undiscounted Cash Flows for Direct Finance Leases (Details) $ in Thousands | Mar. 31, 2023 USD ($) |
2023 | $ 8,830 |
2024 | 10,916 |
2025 | 11,117 |
2026 | 2,750 |
2027 | 208 |
2028 and thereafter | 27 |
Total future minimum lease payments receivable | 33,848 |
Less: Unearned income | (1,821) |
Undiscounted cash flows to be received | $ 32,027 |
Note 6 - Earnings Per Share (De
Note 6 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 42,480 | 38,545 |
Stock Settled Stock Appreciation Rights SSARs [Member] | ||
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 20,188 | 23,299 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 46,423 | |
Restricted Stock [Member] | ||
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 22,292 | 15,246 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 14,622 |
Note 6 - Earnings Per Share - C
Note 6 - Earnings Per Share - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income available to common shareholders | $ 7,040 | $ 7,522 |
Weighted-average common shares outstanding (in shares) | 5,649,623 | 5,655,192 |
Basic EPS (in dollars per share) | $ 1.25 | $ 1.33 |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 42,480 | 38,545 |
Weighted-average common and potentially dilutive shares outstanding (in shares) | 5,692,103 | 5,693,737 |
Diluted EPS (in dollars per share) | $ 1.24 | $ 1.32 |
Note 7 - Stock Plans (Details T
Note 7 - Stock Plans (Details Textual) - $ / shares | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2015 | Dec. 31, 2022 | Jun. 30, 2022 | |
Common Stock, No Par Value (in dollars per share) | $ 0 | $ 0 | |||
Maximum Percentage of Common Stock, Available for Repurchase | 3% | ||||
Treasury Stock, Shares, Acquired (in shares) | 32,554 | ||||
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 38.81 | ||||
Stock Settled Stock Appreciation Rights SSARs [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised (in shares) | 0 | 0 | |||
The 2022 Stock Incentive Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 500,000 | ||||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Vesting Each Year [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33% | ||||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Award Date Three [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year | ||||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Award Date Two [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Award Date One [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||
Long-Term Incentive Plan [Member] | Stock Settled Stock Appreciation Rights SSARs [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||
The 2002 Employee Stock Purchase Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 165,000 | ||||
Shares, Issued (in shares) | 101,827 | ||||
The 2012 Director Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||
The 2012 Director Stock Incentive Plan [Member] | Restricted Stock [Member] | Vesting Each Year [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33% |
Note 7 - Stock Plans - Summary
Note 7 - Stock Plans - Summary of Weighted Average Fair Value and Vesting of Restricted Stock Grants (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | |||
Granted, awards (in shares) | 35,734 | 34,520 | ||
Shares granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | $ 49.85 | ||
The 2012 Director Stock Incentive Plan [Member] | ||||
Granted, awards (in shares) | 0 | [1] | 18,000 | |
Shares granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 49.85 | ||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date One [Member] | ||||
Granted, awards (in shares) | 18,000 | [2] | 16,520 | [1] |
Shares granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | $ 49.85 | ||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Two [Member] | ||||
Granted, awards (in shares) | 17,684 | [2] | ||
Shares granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Three [Member] | ||||
Granted, awards (in shares) | 50 | [3] | ||
Shares granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | |||
[1]Vest after 3 years – 33% each year[2]Vest fully after 3 years[3]Vest after 1 year |
Note 7 - Stock Plans - Non-vest
Note 7 - Stock Plans - Non-vested Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Non-vested balance (in shares) | 62,486 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 51.46 | |
Granted (in shares) | 35,734 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | $ 49.85 |
Forfeited (in shares) | 0 | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | |
Vested (in shares) | (20,449) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 53.24 | |
Non-vested balance (in shares) | 77,771 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 50.06 | |
The 2012 Director Stock Incentive Plan [Member] | ||
Non-vested balance (in shares) | 23,872 | |
Granted (in shares) | 0 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 49.85 |
Forfeited (in shares) | 0 | |
Vested (in shares) | (9,736) | |
Non-vested balance (in shares) | 14,136 | |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Non-vested balance (in shares) | 38,614 | |
Granted (in shares) | 35,734 | |
Forfeited (in shares) | 0 | |
Vested (in shares) | (10,713) | |
Non-vested balance (in shares) | 63,635 |
Note 7 - Stock Plans - Summar_2
Note 7 - Stock Plans - Summary of SSARs (Details) - Stock Settled Stock Appreciation Rights SSARs [Member] - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Outstanding, awards (in shares) | 87,133 | ||
Outstanding, weighted average grant date fair value (in dollars per share) | $ 9.69 | ||
Outstanding, weighted average remaining contractual term (Year) | 4 years 3 months 18 days | 4 years 6 months | |
Granted, awards (in shares) | 0 | ||
Exercised, awards (in shares) | 0 | 0 | |
Forfeited, awards (in shares) | 0 | ||
Outstanding, awards (in shares) | 87,133 | 87,133 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 9.69 | $ 9.69 |
Note 7 - Stock Plans - Stock-ba
Note 7 - Stock Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 30, 2022 | |
Stock-based compensation expense | $ 445 | $ 306 |
The 2012 Director Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 114 | 109 |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 141 | 165 |
The 2022 Omnibus Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 156 | 0 |
The 2002 Employee Stock Purchase Plan [Member] | ||
Stock-based compensation expense | $ 34 | $ 32 |
Note 7 - Stock Plans - Unrecogn
Note 7 - Stock Plans - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Mar. 31, 2023 USD ($) |
Unrecognized stock-based compensation expense | $ 2,939 |
The 2012 Director Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | 658 |
The 2012 Omnibus Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | 670 |
The 2022 Omnibus Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | $ 1,611 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | $ 0 | $ 0 |
Other Repossessed Assets | $ 0 | $ 0 |
Measurement Input, Cost to Sell [Member] | Minimum [Member] | ||
Impaired Loans, Measurement Input | (0.2596) | (0.1961) |
Measurement Input, Cost to Sell [Member] | Maximum [Member] | ||
Impaired Loans, Measurement Input | (0.3019) | (0.2958) |
Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | ||
Impaired Loans, Measurement Input | (0.2775) | (0.2177) |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Other Real Estate Owned, Measurement Input | (0.7760) | (0.3907) |
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Other Real Estate Owned, Measurement Input | (0.7760) | (0.7760) |
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | ||
Other Real Estate Owned, Measurement Input | (0.7760) | (0.3961) |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Total available-for-sale debt securities, fair value | $ 391,414 | $ 420,862 |
Loans held-for-sale | 160 | 1,660 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 63,038 | 29,091 |
Held-to-maturity securities | 223,112 | 222,744 |
Total available-for-sale debt securities, fair value | 391,414 | 420,862 |
Restricted investments in bank stock | 5,968 | 5,268 |
Loans and leases, net | 1,609,089 | 1,547,025 |
Loans held-for-sale | 156 | 1,637 |
Accrued interest receivable | 8,666 | 8,487 |
Interest rate swaps | 154 | 213 |
Short-term borrowings | 88,989 | 12,940 |
Secured borrowings | 7,560 | 7,619 |
Accrued interest payable | 686 | 448 |
Interest rate swaps | 154 | 213 |
Reported Value Measurement [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,986,745 | 2,049,689 |
Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 156,346 | 117,224 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 63,038 | 29,091 |
Held-to-maturity securities | 194,251 | 187,280 |
Total available-for-sale debt securities, fair value | 391,414 | 420,862 |
Restricted investments in bank stock | 5,968 | 5,268 |
Loans and leases, net | 1,482,605 | 1,440,151 |
Loans held-for-sale | 160 | 1,660 |
Accrued interest receivable | 8,666 | 8,487 |
Interest rate swaps | 154 | 213 |
Short-term borrowings | 88,984 | 12,940 |
Secured borrowings | 7,655 | 7,275 |
Accrued interest payable | 686 | 448 |
Interest rate swaps | 154 | 213 |
Estimate of Fair Value Measurement [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,986,745 | 2,049,689 |
Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 152,976 | 113,252 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 63,038 | 29,091 |
Held-to-maturity securities | 0 | 0 |
Total available-for-sale debt securities, fair value | 0 | 0 |
Restricted investments in bank stock | 0 | 0 |
Loans and leases, net | 0 | 0 |
Loans held-for-sale | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Short-term borrowings | 0 | 0 |
Secured borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Time Deposits [Member] | ||
Deposits | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Held-to-maturity securities | 194,251 | 187,280 |
Total available-for-sale debt securities, fair value | 391,414 | 420,862 |
Restricted investments in bank stock | 5,968 | 5,268 |
Loans and leases, net | 0 | 0 |
Loans held-for-sale | 160 | 1,660 |
Accrued interest receivable | 8,666 | 8,487 |
Interest rate swaps | 154 | 213 |
Short-term borrowings | 88,984 | 12,940 |
Secured borrowings | 0 | 0 |
Accrued interest payable | 686 | 448 |
Interest rate swaps | 154 | 213 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,986,745 | 2,049,689 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member] | ||
Deposits | 152,976 | 113,252 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Total available-for-sale debt securities, fair value | 0 | 0 |
Restricted investments in bank stock | 0 | 0 |
Loans and leases, net | 1,482,605 | 1,440,151 |
Loans held-for-sale | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Short-term borrowings | 0 | 0 |
Secured borrowings | 7,655 | 7,275 |
Accrued interest payable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Time Deposits [Member] | ||
Deposits | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_5
Note 8 - Fair Value Measurements - Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Available-for-sale securities | $ 391,414 | $ 420,862 |
Fair Value, Recurring [Member] | ||
Available-for-sale securities | 391,414 | 420,862 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 391,414 | 420,862 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 27,150 | 31,533 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 27,150 | 31,533 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | 0 | 0 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 27,150 | 31,533 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 153,789 | 171,894 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 153,789 | 171,894 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 153,789 | 171,894 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | 0 | 0 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 210,475 | 217,435 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 210,475 | 217,435 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | 0 | 0 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 210,475 | 217,435 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_6
Note 8 - Fair Value Measurements - Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Assets | $ 1,116 | $ 1,683 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets | 1,116 | 1,683 |
Impaired Loans [Member] | ||
Assets | 1,515 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | 1,515 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | ||
Assets | 598 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | 0 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 0 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | 598 | |
Impaired Loans [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||
Assets | 517 | |
Impaired Loans [Member] | Valuation Technique, Discounted Cash Flow [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | 517 | |
Other Real Estate Owned [Member] | ||
Assets | 1 | 168 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | $ 1 | $ 168 |
Note 9 - Employee Benefits (Det
Note 9 - Employee Benefits (Details Textual) $ in Thousands | 3 Months Ended | |||||||||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Sep. 30, 2022 | Jul. 01, 2021 | Jan. 31, 2021 | Mar. 31, 2019 | Mar. 20, 2019 | Dec. 31, 2017 | Mar. 29, 2017 | |
Cash Surrender Value of Life Insurance | $ 53,600 | $ 54,000 | ||||||||
Proceeds from Life Insurance Policy | 931 | $ 0 | ||||||||
Return of Cash Surrender Value of Life Insurance | 800 | |||||||||
Gain From Bank-owned Life Insurance Claim | 142 | 0 | ||||||||
Bank Owned Life Insurance Income | 321 | $ 319 | ||||||||
Supplemental Employee Retirement Plan [Member] | ||||||||||
Defined Benefit Plan, Number of Individuals | 1 | 5 | ||||||||
Defined Benefit Plan, Benefit Obligation | 4,100 | 4,000 | ||||||||
Supplemental Employee Retirement Plan [Member] | Landmark Bancorp Inc. [Member] | ||||||||||
Defined Benefit Plan, Number of Individuals | 1 | |||||||||
Officer [Member] | ||||||||||
Number of Individuals with Split Dollar Life Insurance Arrangement | 15 | 1 | 11 | |||||||
Split Dollar Life Insurance Arrangement, Death Benefit | 53,600 | |||||||||
Split Dollar Life Insurance Arrangement, Death Benefit to be Paid to Insured's Beneficiary | 8,800 | |||||||||
Split Dollar Life Insurance Arrangement, Death Benefit to be Paid to Company | $ 44,800 | |||||||||
Executive Officer [Member] | ||||||||||
Number of Individuals with Split Dollar Life Insurance Arrangement | 4 | 4 | ||||||||
Split Dollar Life Insurance Arrangement, Accrued Expense | $ 289 | $ 269 |
Note 10 - Revenue Recognition (
Note 10 - Revenue Recognition (Details Textual) $ in Thousands | Mar. 31, 2023 USD ($) |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | |
Number of Properties Leased under Operating Lease | 10 | |
Lease, Cost | $ 296 | $ 300 |
Lessor, Number of Properties Under Long-Term Operating Leases | 1 | |
Premises and Equipment Expense [Member] | ||
Lease, Cost | $ 290 | 291 |
Other Expense [Member] | ||
Lease, Cost | $ 6 | $ 9 |
Administrative Office [Member] | ||
Number of Properties Leased under Operating Lease | 1 | |
Future Branch [Member] | ||
Number of Properties Leased under Operating Lease | 1 | |
Land [Member] | ||
Number of Properties Leased under Operating Lease | 4 | |
Number of Leases Classified as Finance Lease | 1 | |
Standalone ATM [Member] | ||
Number of Properties Leased under Operating Lease | 2 | |
Equipment [Member] | ||
Number of Leases Classified as Finance Lease | 4 |
Note 11 - Leases - Analysis of
Note 11 - Leases - Analysis of Leased Property Under Finance Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Property and equipment | $ 1,695 | $ 1,695 |
Less accumulated depreciation and amortization | (666) | (606) |
Leased property under finance leases, net | $ 1,029 | $ 1,089 |
Note 11 - Leases - Schedule of
Note 11 - Leases - Schedule of Future Minimum Lease Payments Under Finance Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | |
2023 | $ 163 | ||
2024 | 171 | ||
2025 | 161 | ||
2026 | 150 | ||
2027 | 150 | ||
2028 and thereafter | 313 | ||
Total minimum lease payments (a) | [1] | 1,108 | |
Less amount representing interest (b) | [2] | (57) | |
Present value of net minimum lease payments | $ 1,051 | $ 1,110 | |
[1]The future minimum lease payments have not been reduced by estimated executory costs (such as taxes and maintenance) since this amount was deemed immaterial by management.[2]Amount necessary to reduce net minimum lease payments to present value calculated at the Company’s incremental borrowing rate upon lease inception. |
Note 11 - Leases - Lease Cost (
Note 11 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Amortization of right-of-use assets | $ 60 | $ 63 |
Interest on lease liabilities | 5 | 6 |
Operating lease cost | 192 | 184 |
Short-term lease cost | 22 | 37 |
Variable lease cost | 17 | 10 |
Total lease cost | 296 | 300 |
Operating cash flows from finance leases | 5 | 6 |
Operating cash flows from operating leases (Fixed payments) | 176 | 148 |
Operating cash flows from operating leases (Liability reduction) | 94 | 74 |
Financing cash flows from finance leases | 59 | 59 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 0 | 0 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 0 | $ 0 |
Weighted-average remaining lease term - finance leases (in years) (Year) | 6 years 4 months 20 days | 6 years 11 months 23 days |
Weighted average remaining lease term - operating leases (in years) (Year) | 20 years 5 months 23 days | 21 years 3 months |
Weighted-average discount rate - finance leases | 1.70% | 1.77% |
Weighted-average discount rate - operating leases | 3.39% | 3.39% |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Payments for Operating Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
2023 | $ 522 | |
2024 | 657 | |
2025 | 637 | |
2026 | 644 | |
2027 | 653 | |
2028 and thereafter | 10,179 | |
Total future minimum lease payments | 13,292 | |
Less variable payment adjustment | (174) | |
Less amount representing interest | (3,855) | |
Present value of net future minimum lease payments | $ 9,263 | $ 9,357 |
Note 11 - Leases - Undiscounted
Note 11 - Leases - Undiscounted Cash Flows to be Received Under Operating Leases (Details) $ in Thousands | Mar. 31, 2023 USD ($) |
2023 | $ 36 |
2024 | 51 |
2025 | 54 |
2026 | 54 |
2027 | 27 |
2028 and thereafter | 0 |
Total lease payments to be received | $ 222 |
Note 11 - Leases - Lease Income
Note 11 - Leases - Lease Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest income on lease receivables | $ 320 | $ 225 |
Lease income - operating leases | 12 | 58 |
Total lease income | $ 332 | $ 283 |
Note 12 - Derivative Instrume_3
Note 12 - Derivative Instruments (Details Textual) $ in Millions | Mar. 31, 2023 USD ($) |
Asset Pledged as Collateral [Member] | Investment Securities [Member] | Derivative, Instrument Rate Swap [Member] | |
Financial Instruments, Owned, at Fair Value | $ 1 |
Note 12 - Derivative Instrume_4
Note 12 - Derivative Instruments - Schedule of Derivative Instruments (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Customer Interest Rate Swaps [Member] | |
Notional amount | $ 1,971 |
Weighted average years (Year) | 14 years 8 months 1 day |
Fair value | $ 154 |
Third Party Interest Rate Swaps [Member] | |
Notional amount | $ 1,971 |
Weighted average years (Year) | 14 years 8 months 1 day |
Fair value | $ 154 |