Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Feb. 29, 2024 | Jun. 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 | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 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 And Drinker Streets | ||
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 Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 231,300,000 | ||
Entity Common Stock, Shares Outstanding | 5,734,097 | ||
Auditor Name | Wolf & Company, P.C. | ||
Auditor Location | Boston, Massachusetts | ||
Auditor Firm ID | 49 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Assets: | ||
Cash and due from banks | $ 28,949 | $ 3,542 |
Interest-bearing deposits with financial institutions | 83,000 | 25,549 |
Total cash and cash equivalents | 111,949 | 29,091 |
Available-for-sale securities | 344,040 | 420,862 |
Held-to-maturity securities (fair value of $197,176 in 2023; $187,280 in 2022) | 224,233 | 222,744 |
Restricted investments in bank stock | 3,905 | 5,268 |
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 1,666,292 | 1,547,025 |
Loans held-for-sale (fair value $1,483 in 2023; $1,660 in 2022) | 1,457 | 1,637 |
Foreclosed assets held-for-sale | 1 | 168 |
Bank premises and equipment, net | 34,232 | 31,307 |
Leased property under finance leases, net | 1,173 | 1,089 |
Right-of-use assets | 7,771 | 8,642 |
Cash surrender value of bank owned life insurance | 54,572 | 54,035 |
Accrued interest receivable | 9,092 | 8,487 |
Goodwill | 19,628 | 19,628 |
Core deposit intangible, net | 1,184 | 1,540 |
Other assets | 23,630 | 26,849 |
Total assets | 2,503,159 | 2,378,372 |
Liabilities: | ||
Interest-bearing | 1,622,282 | 1,564,305 |
Non-interest-bearing | 536,143 | 602,608 |
Total deposits | 2,158,425 | 2,166,913 |
Allowance for credit losses on off-balance sheet credit exposures | 944 | 49 |
Finance lease obligation | 1,201 | 1,110 |
Operating lease liabilities | 8,549 | 9,357 |
Short-term borrowings | 117,000 | 12,940 |
Secured borrowings | 7,372 | 7,619 |
Accrued interest payable and other liabilities | 20,189 | 17,434 |
Total liabilities | 2,313,680 | 2,215,422 |
Commitments and contingencies (Notes 13 and 17) | ||
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; 5,703,636 at December 31, 2023; and 5,630,794 at December 31, 2022) | 117,695 | 115,611 |
Retained earnings | 128,251 | 119,754 |
Accumulated other comprehensive loss | (56,467) | (71,152) |
Treasury stock, at cost (38 shares at December 31, 2023 and 32,663 shares at December 31, 2022) | 0 | (1,263) |
Total shareholders' equity | 189,479 | 162,950 |
Total liabilities and shareholders' equity | $ 2,503,159 | $ 2,378,372 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Held-to-maturity securities, fair value | $ 197,176 | $ 187,280 |
Financing receivable, allowance for credit losses | 18,806 | 17,149 |
Loans held-for-sale, fair value | $ 1,483 | $ 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) | 5,703,636 | 5,630,794 |
Common stock, shares outstanding (in shares) | 5,703,636 | 5,630,794 |
Treasury stock, shares (in shares) | 38 | 32,663 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Interest income: | ||
Taxable | $ 77,392 | $ 62,110 |
Nontaxable | 3,237 | 1,910 |
Interest-bearing deposits with financial institutions | 456 | 886 |
Restricted investments in bank stock | 309 | 184 |
Investment securities: | ||
U.S. government agency and corporations | 5,973 | 6,321 |
States and political subdivisions (nontaxable) | 4,690 | 5,466 |
States and political subdivisions (taxable) | 1,778 | 1,795 |
Total interest income | 93,835 | 78,672 |
Interest expense: | ||
Deposits | 28,945 | 6,144 |
Secured borrowings | 475 | 209 |
Other short-term borrowings | 2,368 | 45 |
Total interest expense | 31,788 | 6,398 |
Net interest income | 62,047 | 72,274 |
Provision for credit losses on loans | 1,491 | 2,100 |
Net benefit for credit losses on unfunded loan commitments | (165) | (13) |
Net interest income after provision for credit losses | 60,721 | 70,187 |
Other income: | ||
Earnings on bank-owned life insurance | 1,325 | 1,290 |
Gain (loss) on write-down, sale or disposal of: | ||
Loans | 972 | 1,623 |
Available-for-sale debt securities | (6,468) | 4 |
Premises and equipment | (216) | (195) |
Total other income | 11,405 | 16,642 |
Other expenses: | ||
Salaries and employee benefits | 25,642 | 26,977 |
Premises and equipment | 8,787 | 7,624 |
Data processing and communication | 2,776 | 2,635 |
Advertising and marketing | 3,171 | 3,381 |
Professional services | 3,822 | 3,441 |
Automated transaction processing | 1,758 | 1,557 |
Office supplies and postage | 716 | 682 |
PA shares tax | 126 | 716 |
Loan collection | 85 | 248 |
Other real estate owned | 4 | 15 |
FDIC assessment | 1,124 | 694 |
Other | 3,859 | 3,391 |
Total other expenses | 51,870 | 51,361 |
Income before income taxes | 20,256 | 35,468 |
Provision for income taxes | 2,046 | 5,447 |
Net income | $ 18,210 | $ 30,021 |
Per share data: | ||
Net income - basic (in dollars per share) | $ 3.21 | $ 5.32 |
Net income - diluted (in dollars per share) | 3.19 | 5.29 |
Dividends (in dollars per share) | $ 1.46 | $ 1.35 |
Deposit Account [Member] | ||
Other income: | ||
Other Income | $ 3,996 | $ 3,475 |
Credit and Debit Card [Member] | ||
Other income: | ||
Other Income | 4,769 | 4,532 |
Bank Servicing [Member] | ||
Other income: | ||
Other Income | 1,023 | 1,316 |
Fiduciary and Trust [Member] | ||
Other income: | ||
Other Income | 3,003 | 2,481 |
Investment Advisory, Management and Administrative Service [Member] | ||
Other income: | ||
Other Income | 941 | 955 |
Financial Service, Other [Member] | ||
Other income: | ||
Other Income | $ 2,060 | $ 1,161 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net income | $ 18,210 | $ 30,021 |
Other comprehensive gain (loss), before tax: | ||
Unrealized holding gain (loss) on available-for-sale debt securities | 9,816 | (68,102) |
Reclassification adjustment for net losses (gains) realized in income | 6,468 | (4) |
Reclassification of unrealized loss on securities transferred from available-for-sale to held-to-maturity | 0 | (23,882) |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity | 2,305 | 1,695 |
Net unrealized gain (loss) | 18,589 | (90,293) |
Tax effect | (3,904) | 18,962 |
Unrealized gain (loss), net of tax | 14,685 | (71,331) |
Other comprehensive income (loss), net of tax | 14,685 | (71,331) |
Total comprehensive income (loss), net of tax | $ 32,895 | $ (41,310) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - 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 | 30,021 | 30,021 | ||||||
Other comprehensive income (loss), net of tax | (71,331) | (71,331) | ||||||
Issuance of common stock through Employee Stock Purchase Plan (in shares) | 4,891 | |||||||
Issuance of common stock through Employee Stock Purchase Plan | 252 | 252 | ||||||
Forfeited restricted dividend reinvestment shares (in shares) | (109) | |||||||
Forfeited restricted dividend reinvestment shares | 0 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans (in shares) | 11,699 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans | 0 | |||||||
Issuance of common stock through exercise of SSARs (in shares) | 1,180 | |||||||
Issuance of common stock through exercise of SSARs | 0 | |||||||
Stock-based compensation expense | 1,271 | 1,271 | ||||||
Common stock repurchased (in shares) | (32,554) | |||||||
Common stock repurchased | (1,263) | (1,263) | ||||||
Repurchase of shares to cover withholdings (in shares) | ||||||||
Repurchase of shares to cover withholdings | (20) | |||||||
Cash dividends declared | (7,709) | (7,709) | ||||||
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) | 162,950 | ||||
Net income | 18,210 | 18,210 | ||||||
Other comprehensive income (loss), net of tax | 14,685 | 14,685 | ||||||
Issuance of common stock through Employee Stock Purchase Plan (in shares) | 7,294 | |||||||
Issuance of common stock through Employee Stock Purchase Plan | 302 | 302 | ||||||
Forfeited restricted dividend reinvestment shares (in shares) | (43) | |||||||
Forfeited restricted dividend reinvestment shares | 0 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans (in shares) | 24,481 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans | ||||||||
Issuance of common stock through exercise of SSARs (in shares) | 8,442 | |||||||
Issuance of common stock through exercise of SSARs | 0 | |||||||
Stock-based compensation expense | 1,648 | $ 1,648 | ||||||
Common stock repurchased (in shares) | (32,554) | |||||||
Repurchase of shares to cover withholdings (in shares) | (1,386) | |||||||
Repurchase of shares to cover withholdings | (171) | (68) | $ (239) | |||||
Cash dividends declared | (8,387) | (8,387) | ||||||
Re-issuance of common stock through Dividend Reinvestment Plan (in shares) | 34,054 | |||||||
Re-issuance of common stock through Dividend Reinvestment Plan | 305 | 1,331 | 1,636 | |||||
Balance (in shares) at Dec. 31, 2023 | 5,703,636 | |||||||
Balance at Dec. 31, 2023 | $ 117,695 | $ 128,251 | $ (56,467) | $ 0 | $ 189,479 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 18,210 | $ 30,021 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 5,703 | 5,255 |
Provision for credit losses on loans | 1,491 | 2,100 |
Provision (benefit) for credit losses | (165) | (13) |
Deferred income tax (benefit) expense | (593) | 1,835 |
Stock-based compensation expense | 1,648 | 1,271 |
Excess tax benefit from exercise of SSARs | 104 | 12 |
Proceeds from sale of loans held-for-sale | 52,281 | 79,401 |
Originations of loans held-for-sale | (53,775) | (67,476) |
Earnings from bank-owned life insurance | (1,325) | (1,290) |
Gain from bank-owned life insurance claim | (142) | 0 |
Net gain from sales of loans | (972) | (1,623) |
Net loss (gain) from sales of investment securities | 6,468 | (4) |
Net gain from sale and write-down of foreclosed assets held-for-sale | (2) | (19) |
Net loss from write-down and disposal of bank premises and equipment | 216 | 195 |
Operating lease payments | 64 | 93 |
Change in: | ||
Accrued interest receivable | (604) | (961) |
Other assets | 493 | (924) |
Accrued interest payable and other liabilities | 592 | 1,554 |
Net cash provided by operating activities | 29,692 | 49,427 |
Cash flows from investing activities: | ||
Proceeds from sales | 60,338 | 1,691 |
Proceeds from maturities, calls and principal pay-downs | 24,973 | 40,749 |
Purchases | 0 | (42,087) |
Decrease (increase) in restricted investments in bank stock | 1,363 | (2,061) |
Net increase in loans and leases | (122,032) | (116,055) |
Principal portion of lease payments received under direct finance leases | 5,260 | 5,733 |
Purchases of bank premises and equipment | (6,954) | (5,514) |
Proceeds from death benefits received on bank-owned life insurance | 931 | 0 |
Proceeds from sale of bank premises and equipment | 844 | 1,095 |
Proceeds from sale of foreclosed assets held-for-sale | 2 | 1,061 |
Net cash used in investing activities | (35,275) | (115,388) |
Cash flows from financing activities: | ||
Net decrease in deposits | (8,461) | (2,916) |
Net increase in other borrowings | 103,818 | 10,063 |
Repayment of finance lease obligation | (229) | (232) |
Purchase of treasury stock | 0 | (1,263) |
Proceeds from employee stock purchase plan participants | 302 | 252 |
Repurchase of shares to cover withholdings | (239) | (20) |
Dividends paid, net of dividends reinvested | (6,750) | (7,709) |
Net cash provided by (used in) financing activities | 88,441 | (1,825) |
Net increase (decrease) in cash and cash equivalents | 82,858 | (67,786) |
Cash and cash equivalents, beginning | 29,091 | 96,877 |
Cash and cash equivalents, ending | 111,949 | 29,091 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 29,194 | 6,105 |
Income tax | 2,550 | 3,050 |
Supplemental Disclosures of Non-cash Investing Activities: | ||
Net change in unrealized losses on available-for-sale securities | 16,284 | (68,106) |
Transfers of securities from available-for-sale to held-to-maturity | 0 | 245,536 |
Unrealized losses on securities transferred from available-for-sale to held-to-maturity | 0 | (23,882) |
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 | 2,305 | 1,695 |
Transfers from loans to foreclosed assets held-for-sale | (168) | |
Transfers to loans from foreclosed assets held-for-sale | 776 | |
Transfers to loans from loans held-for-sale, net | 1,967 | 17,907 |
Transfers from premises and equipment to other assets held-for-sale | 0 | 1,184 |
Right-of-use asset | (81) | 141 |
Lease liability | $ (81) | $ 141 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Fidelity D & D Bancorp, Inc. and its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank (the Bank) (collectively, the Company). All significant inter-company balances and transactions have been eliminated in consolidation. NATURE OF OPERATIONS The Company provides a full range of banking, trust and financial services to individuals, small businesses and corporate customers. Its primary market areas are Lackawanna, Luzerne and Northampton Counties, Pennsylvania. The Company's primary deposit products are demand deposits and interest-bearing time, money market and savings accounts. It offers a full array of loan products to meet the needs of retail and commercial customers. The Company is subject to regulation by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. 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 reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on loans, the valuation of investment securities, the determination and the amount of impairment in the securities portfolios, and the related realization of the deferred tax assets related to the allowance for credit losses on loans, credit losses on and valuations of investment securities. In connection with the determination of the allowance for credit losses on loans, management generally obtains independent appraisals for individually evaluated loans, along with discounted cash flow and weighted average remaining maturity models adjusted for qualitative factors for collectively evaluated loans. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may may may The Company’s investment securities are comprised of a variety of financial instruments. The fair values of the securities are subject to various risks including changes in the interest rate environment and general economic conditions including illiquid conditions in the capital markets. Due to the increased level of these risks and their potential impact on the fair values of the securities, it is possible that the amounts reported in the accompanying financial statements could materially change in the near-term. If credit losses exist, a contra-asset is recorded on the consolidated balance sheet, limited by the amount that fair value is less than the amortized cost basis. Any impairment that has not RECLASSIFICATION Certain amounts in the prior year consolidated financial statements have been reclassified to conform to current year presentation. SIGNIFICANT GROUP CONCENTRATION OF CREDIT RISK The Company originates commercial, consumer, and mortgage loans to customers primarily located in Lackawanna, Luzerne and Northampton Counties of Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic sector in which the Company operates. The loan portfolio does not one HELD-TO-MATURITY SECURITIES Debt securities, for which the Company has the positive intent and ability to hold to maturity, are reported at amortized cost. Premiums and discounts are amortized or accreted, as a component of interest income over the life of the related security (or earlier call date for premiums) as an adjustment to yield using the interest method. The Company had held-to-maturity securities with balances of $224.2 million and $222.7 million at December 31, 2023 2022 TRADING SECURITIES Debt securities held principally for resale in the near-term, or trading securities, are recorded at their fair values. Unrealized gains and losses are included in other income. The Company did not 2023 2022 AVAILABLE-FOR-SALE SECURITIES Available-for-sale (AFS) securities consist of debt securities classified as neither held-to-maturity nor trading and are reported at fair value. Premiums and discounts are amortized or accreted as a component of interest income over the life of the related security (or earlier call date for premiums) as an adjustment to yield using the interest method. Unrealized holding gains and losses on AFS securities are reported as a separate component of shareholders’ equity, net of deferred income taxes, until realized. The net unrealized holding gains and losses are a component of accumulated other comprehensive income. Gains and losses from sales of securities AFS are determined using the specific identification method. FEDERAL HOME LOAN BANK STOCK The Company is a member of the Federal Home Loan Bank system, and as such is required to maintain an investment in capital stock of the Federal Home Loan Bank of Pittsburgh (FHLB). The amount the Company is required to invest is dependent upon the relative size of outstanding borrowings the Company has with the FHLB. Based on redemption provisions of the FHLB, the stock has no LOANS Originated loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at face value, net of unamortized loan fees and costs and the allowance for credit losses. Interest on residential real estate loans is recorded based on principal pay downs on an actual days basis. Commercial loan interest is accrued on the principal balance on an actual days basis. Interest on consumer loans is determined using the simple interest method. Acquired loans classified as Purchase Credit Impaired (PCI) loans prior to the effective date of Accounting Standard Update (ASU) 2016 13, Financial Instruments Credit Losses (Topic 326 January 1, 2023, CECL introduced the concept of PCD financial loans, which replaces PCI loans under previous U.S. GAAP. For PCD loans, the new accounting standard requires institutions to estimate and record an allowance for credit losses for these loans at the time of purchase. This allowance is then added to the purchase price to establish the initial amortized cost basis of the PCD loans, rather than being reported as a credit loss expense. In contrast, for purchased loans within the scope of CECL that are not In addition, the definition of PCD loans is broader than the definition of PCI loans in previous accounting standards. CECL defines "purchased financial assets with credit deterioration" as "acquired individual financial assets (or acquired groups of financial assets with similar risk characteristics) that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination, as determined by an acquirer's assessment.” Generally, loans are placed on non-accrual status when principal or interest is past due 90 not first MORTGAGE BANKING OPERATIONS AND MORTGAGE SERVICING RIGHTS The Company sells one four Commitments to sell one four not December 31, 2023 2022 For sales of mortgage loans originated by the Company, a portion of the cost of originating the loan is allocated to the servicing retained right based on fair value. Servicing assets are reported in other assets and amortized in proportion to and over the period during which estimated servicing income will be received. Servicing loans for others consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors, and processing foreclosures. Loan servicing income is recorded when earned and represents servicing fees from investors and certain charges collected from borrowers, such as late payment fees. The Company has fiduciary responsibility for related escrow and custodial funds. DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recognized as assets and liabilities on the consolidated balance sheets, measured at fair value and recorded in other assets and accrued interest payable and other liabilities. Interest Rate Swap Agreements not no not Cash flows resulting from the derivative financial instruments that are accounted for as hedges of assets and liabilities are classified in the cash flow statement in the same category as the cash flows of the items being hedged. LOANS HELD-FOR-SALE Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Unrealized gains are recognized but only to the extent of previous write-downs. AUTOMOBILE LEASING Financing of automobiles, provided to customers under lease arrangements of varying terms obtained via an indirect arrangement primarily through a single dealer on a full recourse basis, are accounted for as direct finance leases. Interest on automobile direct finance leasing is determined using the interest method. Generally, the interest method is used 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. ALLOWANCE FOR CREDIT LOSSES Allowance for Credit Losses on Loans 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. Commercial and industrial loans (C&I): may may Commercial real estate loans (CRE): first may no 80% may Consumer loans: may may Residential mortgage loans: first thirty 10 30 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures In accordance with ASC Topic 326, not Prior to January 1, 2023 As further noted in Note 18, January 1, 2023, 2016 13 326 Prior to the adoption of ASC 326, may two not A loan was considered impaired when, based on current information and events, it was probable that the Company would be unable to collect the scheduled payments in accordance with the contractual terms of the loan. Factors considered in determining impairment included 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 taken into account. Such factors included 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. Acquired loans were marked to fair value on the date of acquisition and were evaluated on a quarterly basis to ensure the necessary purchase accounting updates were made in parallel with the allowance for loan loss calculation. The carryover of allowance for loan losses related to acquired loans was prohibited as any credit losses in the loans were included in the determination of the fair value of the loans at the acquisition date. The allowance for loan losses on acquired loans reflected only those losses incurred after acquisition and represented the present value of cash flows expected at acquisition that was no not For acquired ASC 310 30 TRANSFER OF FINANCIAL ASSETS 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 LOAN FEES AND COSTS Nonrefundable loan origination fees and certain direct loan origination costs are recognized as a component of interest income over the life of the related loans as an adjustment to yield. The unamortized balance of the deferred fees and costs are included as components of the loan balances to which they relate. ACCRUED INTEREST RECEIVABLE The Company elected not 90 Accrued interest receivable is presented separately on the consolidated balance sheets. BANK PREMISES AND EQUIPMENT Land is carried at cost. Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improved property. The Company leases several branches which are classified as operating leases. The Company also leases two BANK OWNED LIFE INSURANCE The Company maintains bank owned life insurance (BOLI) for a selected group of employees, namely its officers where the Company is the owner and sole beneficiary of the policies. The earnings from the BOLI are recognized as a component of other income in the consolidated statements of income. The BOLI is an asset that can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not EMPLOYEE BENEFITS 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. Monthly expenses for the SERP and post-retirement split dollar life benefit are recorded as components of salaries and employee benefit expense on the consolidated statements of income. FORECLOSED ASSETS HELD-FOR-SALE Foreclosed assets held-for-sale are carried at the lower of cost or fair value less cost to sell. Foreclosed assets held-for-sale is primarily other real estate owned, but also includes other repossessed assets. Losses from the acquisition of property in full and partial satisfaction of debt are treated as credit losses. Routine holding costs, gains and losses from sales, write-downs for subsequent declines in value and any rental income received are recognized net, as a component of other real estate owned expense in the consolidated statements of income. Gains or losses are recorded when the properties are sold. IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets, including bank premises and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not GOODWILL AND INTANGIBLE ASSETS 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. The goodwill is not Goodwill is reviewed for impairment annually as of November 30 may not not not no not 2023, not not no Other acquired intangible assets that have finite lives, such as core deposit intangibles, are amortized over their estimated useful lives and subject to periodic impairment testing. STOCK PLANS The Company accounts for stock-based compensation plans under the recognition and measurement accounting principles, which requires the cost of share-based payment transactions be recognized in the financial statements. The stock-based compensation accounting guidance requires that compensation cost for stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. Compensation cost is recognized on a straight-line basis over the requisite service period. When granting stock-settled stock appreciation rights (SSARs), the Company uses Black-Scholes-Merton valuation model to determine fair value on the date of grant. TRUST AND FINANCIAL SERVICE FEES Trust and financial service fees are recorded on the cash basis, which is not ADVERTISING COSTS Advertising costs are charged to expense as incurred. LEGAL AND PROFESSIONAL EXPENSES Generally, the Company recognizes legal and professional fees as incurred and are included as a component of professional services expense in the consolidated statements of income. Legal costs incurred that are associated with the collection of outstanding amounts due from delinquent borrowers are included as a component of loan collection expense in the consolidated statements of income. In the event of litigation proceedings brought about by an employee or third INCOME TAXES Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The benefit of a tax position is recognized on the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than- not not not 50% not not no not no December 31, 2023 2022 COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss). CASH FLOWS For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. |
Note 2 - Cash
Note 2 - Cash | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 2. CASH The Company is required by the Federal Reserve Bank to maintain average reserve balances based on a percentage of deposits. There were no reserve requirements on December 31, 2023 2022 Deposits with any one may |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. ACCUMULATED OTHER COMPREHENSIVE INCOME 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 year ended December 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 income before reclassifications, net of tax 7,754 - 7,754 Amounts reclassified from accumulated other comprehensive income, net of tax 5,110 1,821 6,931 Net current-period other comprehensive income 12,864 1,821 14,685 Ending balance $ (40,760 ) $ (15,707 ) $ (56,467 ) As of and for the year ended December 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 (53,800 ) (18,867 ) (72,667 ) Amounts reclassified from accumulated other comprehensive income, net of tax (3 ) 1,339 1,336 Net current-period other comprehensive loss (53,803 ) (17,528 ) (71,331 ) Ending balance $ (53,624 ) $ (17,528 ) $ (71,152 ) Details about accumulated other Amount reclassified from accumulated Affected line item in the statement comprehensive income components other comprehensive income where net income is presented (dollars in thousands) 2023 2022 Unrealized (losses) gains on AFS debt securities $ (6,468 ) $ 4 Gain (loss) on sale of investment securities Amortization of unrealized loss on held-to-maturity securities (2,305 ) (1,695 ) Interest income on investment securities Total reclassifications for the period (8,773 ) (1,691 ) Income before income taxes Income tax effect 1,842 355 Provision for income taxes Total reclassifications for the period $ (6,931 ) $ (1,336 ) Net income |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. INVESTMENT SECURITIES 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 December 31, 2023 2022, Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2023 Held-to-maturity securities: Agency - GSE $ 81,382 $ - $ (7,561 ) $ 73,821 Obligations of states and political subdivisions 142,851 - (19,496 ) 123,355 Total held-to-maturity securities $ 224,233 $ - $ (27,057 ) $ 197,176 Available-for-sale debt securities: Agency - GSE $ 31,178 $ - $ (3,633 ) $ 27,545 Obligations of states and political subdivisions 138,217 1 (15,421 ) 122,797 MBS - GSE residential 226,240 - (32,542 ) 193,698 Total available-for-sale debt securities $ 395,635 $ 1 $ (51,596 ) $ 344,040 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 Some of the Company’s debt securities are pledged to secure trust funds, public deposits, short-term borrowings, FHLB advances, Federal Reserve Bank of Philadelphia Discount Window borrowings and certain other deposits as required by law. The amortized cost and fair value of debt securities at December 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 24,517 22,985 Due after five years through ten years 75,811 67,550 Due after ten years 123,905 106,641 Total held-to-maturity securities $ 224,233 $ 197,176 Available-for-sale securities: Debt securities: Due in one year or less $ 750 $ 751 Due after one year through five years 26,607 24,238 Due after five years through ten years 30,766 26,343 Due after ten years 110,191 99,010 MBS - GSE residential 226,240 193,698 Total available-for-sale debt securities $ 394,554 $ 344,040 There was a $1.1 million increase to the carrying value of municipal AFS securities resulting from the interest rate swap that was not Actual maturities will differ from contractual maturities because issuers and borrowers may Securities pledged at December 31, 2023 Gross realized gains and losses from sales, determined using specific identification, for the periods indicated were as follows: December 31, (dollars in thousands) 2023 2022 Gross realized gain $ 533 $ 18 Gross realized loss (7,001 ) (14 ) Net gain $ (6,468 ) $ 4 The following table presents the fair value and gross unrealized losses of investments aggregated by investment type, the length of time and the number of securities that have been in a continuous unrealized loss position as of the period indicated: Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses December 31, 2023 Agency - GSE $ - $ - $ 101,366 $ (11,194 ) $ 101,366 $ (11,194 ) Obligations of states and political subdivisions 781 (22 ) 244,224 (33,814 ) 245,005 (33,836 ) MBS - GSE residential - - 193,698 (31,462 ) 193,698 (31,462 ) Total $ 781 $ (22 ) $ 539,288 $ (76,470 ) $ 540,069 $ (76,492 ) Number of securities 2 414 416 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 There was a $2.2 million increase to the carrying value of AFS securities resulting from the interest rate swap that increased the unrealized loss position at December 31, 2023 not The Company had 416 debt securities in an unrealized loss position at December 31, 2023 December 31, 2023 no December 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 credit losses on debt securities 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 December 31, 2023 no not, no |
Note 5 - Loans and Leases
Note 5 - Loans and Leases | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. LOANS AND LEASES The classifications of loans and leases at December 31, 2023 2022 (dollars in thousands) December 31, 2023 December 31, 2022 Commercial and industrial: Commercial $ 152,640 $ 141,122 Municipal 94,724 72,996 Commercial real estate: Non-owner occupied 311,565 318,296 Owner occupied 304,399 284,677 Construction 39,823 24,005 Consumer: Home equity installment 56,640 59,118 Home equity line of credit 52,348 52,568 Auto loans - Recourse 10,756 12,929 Auto loans - Non-recourse 112,595 114,909 Direct finance leases 33,601 33,223 Other 16,500 11,709 Residential: Real estate 465,010 398,136 Construction 36,536 42,232 Total 1,687,137 1,565,920 Less: Allowance for credit losses on loans (18,806 ) (17,149 ) Unearned lease revenue (2,039 ) (1,746 ) Loans and leases, net $ 1,666,292 $ 1,547,025 Total unamortized net costs and premiums included in loan totals were as follows: (dollars in thousands) December 31, 2023 December 31, 2022 Net unamortized fair value mark discount on acquired loans $ (6,468 ) $ (9,064 ) Net unamortized deferred loan origination costs 4,930 4,630 Total $ (1,538 ) $ (4,434 ) Based on the adoption of ASU 2016 13, 2023, December 31, 2022 The Company excludes accrued interest receivable from the amortized cost basis of loans disclosed throughout this footnote. As of December 31, 2023 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 December 31, 2023 December 31, 2022 December 31, 2023 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 December 31, 2023 (dollars in thousands) Non-accrual With No Allowance for Credit Loss Non-accrual With an Allowance for Credit Loss Total Non-accrual Loans Past Due Over 89 Days Still Accruing At December 31, 2023 Commercial and industrial: Commercial $ 39 $ 16 $ 55 $ - Municipal - - - - Commercial real estate: Non-owner occupied 252 - 252 - Owner occupied 2,040 210 2,250 - Consumer: Home equity installment 70 - 70 - Home equity line of credit 297 67 364 - Auto loans - Recourse - - - - Auto loans - Non-recourse 32 7 39 - Direct finance leases - - - 14 Other - - - - Residential: Real estate 278 - 278 - Total $ 3,008 $ 300 $ 3,308 $ 14 Non-accrual loans, segregated by class, at December 31, 2022 (dollars in thousands) December 31, 2022 Commercial and industrial $ 719 Commercial real estate: Non-owner occupied 383 Owner occupied 1,066 Consumer: Home equity line of credit 211 Auto loans 153 Residential: Real estate 3 Total $ 2,535 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 December 31, 2023 twelve December 31, 2023 Loans modified for the twelve months ended: (dollars in thousands) December 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 and industrial: Commercial $ - $ 40 $ - $ - $ - $ - 0.03 % Commercial real estate: Non-owner occupied - - 915 3,068 - - 1.28 % Owner occupied - 1,539 125 - - - 0.55 % Total $ - $ 1,579 $ 1,040 $ 3,068 $ - $ - The Company has not Loans modified to borrowers experiencing financial difficulty are closely monitored to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last 12 (dollars in thousands) December 31, 2023 Current 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Commercial and industrial: Commercial $ 40 $ - $ - $ - $ - Commercial real estate: Non-owner occupied 3,918 - 65 - 65 Owner occupied 1,664 - - - - Total $ 5,622 $ - $ 65 $ - $ 65 The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the twelve December 31, 2023 (dollars in thousands) December 31, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - 6.13 % 8.8 Owner occupied - - 74.0 The following table provides the amortized cost basis of financing receivables that had a payment default during the twelve December 31, 2023 twelve Loans modified within the previous twelve months that subsequently defaulted: (dollars in thousands) December 31, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Commercial real estate: Non-owner occupied $ - $ - $ 65 $ - Total $ - $ - $ 65 $ - Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (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 December 31, 2023 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial: Commercial $ 77 16 55 $ 148 $ 152,492 $ 152,640 $ - Municipal - - - - 94,724 94,724 Commercial real estate: Non-owner occupied 85 65 252 402 311,163 311,565 - Owner occupied 1,875 104 2,250 4,229 300,170 304,399 - Construction - - - - 39,823 39,823 - Consumer: Home equity installment 105 150 70 325 56,315 56,640 - Home equity line of credit 60 92 364 516 51,832 52,348 - Auto loans - Recourse 86 1 - 87 10,669 10,756 - Auto loans - Non-recourse 417 48 39 504 112,091 112,595 - Direct finance leases 548 - 14 562 31,000 31,562 (2) 14 Other 30 4 - 34 16,466 16,500 - Residential: Real estate 42 682 278 1,002 464,008 465,010 - Construction - - - - 36,536 36,536 - Total $ 3,325 $ 1,162 $ 3,322 $ 7,809 $ 1,677,289 $ 1,685,098 $ 14 ( 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 $ 140,403 $ 141,122 $ - Municipal - - - - 72,996 72,996 - Commercial real estate: Non-owner occupied - - 383 383 317,913 318,296 - Owner occupied 42 - 1,066 1,108 283,569 284,677 - Construction - - - - 24,005 24,005 - 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 In the table below, average recorded investment refers to the five December 31, 2022 Cash basis Average Interest interest recorded income income (dollars in thousands) investment recognized recognized Commercial and industrial $ 468 $ - $ - Commercial real estate: Non-owner occupied 1,263 104 - Owner occupied 2,279 125 - Construction - - - Consumer: Home equity installment - - - Home equity line of credit 153 7 - Auto loans 162 5 - Direct finance leases - - - Other - - - Residential: Real estate 158 41 - Construction - - - Total $ 4,483 $ 282 $ - 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 table presents loans including $4.9 million and $4.6 million of deferred costs, segregated by class and vintage, categorized into the appropriate credit quality indicator category as of December 31, 2023 2022 Commercial credit exposure Credit risk profile by creditworthiness category As of December 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 $ 30,328 $ 19,115 22,820 4,848 6,922 12,156 53,758 $ - $ 149,947 Special Mention - 597 288 - - 55 30 - 970 Substandard - - 16 20 53 324 1,310 - 1,723 Doubtful - - - - - - - - - Total commercial and industrial $ 30,328 $ 19,712 $ 23,124 $ 4,868 $ 6,975 $ 12,535 $ 55,098 $ - $ 152,640 Commercial and industrial: Current period gross write-offs $ - $ - $ 300 $ 20 $ - $ - $ - $ - $ 320 Commercial and industrial - municipal Risk Rating Pass $ 27,016 $ 13,933 $ 21,241 $ 13,137 $ 1,445 $ 17,952 $ - $ - $ 94,724 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial and industrial - municipal $ 27,016 $ 13,933 $ 21,241 $ 13,137 $ 1,445 $ 17,952 $ - $ - $ 94,724 Commercial and industrial - municipal: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - non-owner occupied Risk Rating Pass $ 34,103 $ 37,508 71,209 42,692 17,390 89,860 $ 6,779 $ - $ 299,541 Special Mention - - 1,044 304 - 1,375 - - 2,723 Substandard - 65 1,063 129 566 7,478 - - 9,301 Doubtful - - - - - - - - - Total commercial real estate - non-owner occupied $ 34,103 $ 37,573 $ 73,316 $ 43,125 $ 17,956 $ 98,713 $ 6,779 $ - $ 311,565 Commercial real estate - non-owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ 32 $ - $ - $ 32 Commercial real estate - owner occupied Risk Rating Pass $ 29,429 59,132 47,240 29,377 24,636 84,423 9,731 $ - $ 283,968 Special Mention - 199 554 - - - 125 - 878 Substandard 7,029 379 560 - 10,991 594 - 19,553 Doubtful - - - - - - - - - Total commercial real estate - owner occupied $ 29,429 $ 66,360 $ 48,173 $ 29,937 $ 24,636 $ 95,414 $ 10,450 $ - $ 304,399 Commercial real estate - owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ 59 $ - $ - $ 59 Commercial real estate - construction Risk Rating Pass $ 15,075 $ 17,358 $ 852 $ - $ - $ 3,739 $ 2,799 $ - $ 39,823 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial real estate - construction $ 15,075 $ 17,358 $ 852 $ - $ - $ 3,739 $ 2,799 $ - $ 39,823 Commercial real estate - construction: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity As of December 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 $ 8,581 $ 17,890 $ 9,487 $ 7,988 $ 3,832 $ 8,792 $ - $ - $ 56,570 Non-performing - - - - - 70 - - 70 Total home equity installment $ 8,581 $ 17,890 $ 9,487 $ 7,988 $ 3,832 $ 8,862 $ - $ - $ 56,640 Home equity installment Current period gross write-offs $ - $ - $ - $ - $ - $ 26 $ - $ - $ 26 Home equity line of credit Payment performance Performing $ - $ - $ - $ - $ - $ - $ 40,939 $ 11,045 $ 51,984 Non-performing - - - - - - 364 - 364 Total home equity line of credit $ - $ - $ - $ - $ - $ - $ 41,303 $ 11,045 $ 52,348 Home equity line of credit Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - recourse Payment performance Performing $ 3,120 $ 1,957 $ 2,834 $ 1,926 $ 765 $ 154 $ - $ - $ 10,756 Non-performing - - - - - - - - - Total auto loans - recourse $ 3,120 $ 1,957 $ 2,834 $ 1,926 $ 765 $ 154 $ - $ - $ 10,756 Auto loans - recourse Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - non-recourse Payment performance Performing $ 39,673 $ 42,059 $ 17,314 $ 8,162 $ 3,999 $ 1,349 $ - $ - $ 112,556 Non-performing - - 3 17 - 19 - - 39 Total auto loans - non-recourse $ 39,673 $ 42,059 $ 17,317 $ 8,179 $ 3,999 $ 1,368 $ - $ - $ 112,595 Auto loans - non-recourse Current period gross write-offs $ 3 $ 7 $ 105 $ 36 $ 15 $ - $ - $ - $ 166 Direct finance leases (1) Payment performance Performing $ 11,569 $ 10,728 $ 7,508 $ 1,660 $ 83 $ - $ - $ - $ 31,548 Non-performing - - 14 - - - - - 14 Total direct finance leases $ 11,569 $ 10,728 $ 7,522 $ 1,660 $ 83 $ - $ - $ - $ 31,562 Direct finance leases Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer - other Payment performance Performing $ 8,127 $ 3,266 $ 1,963 $ 705 $ 368 $ 762 $ 1,309 $ - $ 16,500 Non-performing - - - - - - - - - Total consumer - other $ 8,127 $ 3,266 $ 1,963 $ 705 $ 368 $ 762 $ 1,309 $ - $ 16,500 Consumer - other Current period gross write-offs $ 125 $ 77 $ 16 $ 7 $ 17 $ 29 $ - $ - $ 271 Residential real estate Payment performance Performing $ 53,604 $ 80,516 $ 137,620 $ 51,710 $ 29,859 $ 111,423 $ - $ - $ 464,732 Non-performing - - - - - 278 - - 278 Total residential real estate $ 53,604 $ 80,516 $ 137,620 $ 51,710 $ 29,859 $ 111,701 $ - $ - $ 465,010 Residential real estate Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential - construction Payment performance Performing $ 10,733 $ 13,084 $ 9,267 $ 2,675 $ 343 $ 434 $ - $ - $ 36,536 Non-performing - - - - - - - - - Total residential - construction $ 10,733 $ 13,084 $ 9,267 $ 2,675 $ 343 $ 434 $ - $ - $ 36,536 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 December 31, 2023 (dollars in thousands) Real Estate Other Total Collateral-Dependent Non-Accrual Loans At December 31, 2023 Commercial and industrial: Commercial $ - $ 55 $ 55 Commercial real estate: Non-owner occupied 252 - 252 Owner occupied 2,250 - 2,250 Consumer: Home equity installment 70 - 70 Home equity line of credit 364 - 364 Auto loans - Non-recourse - 39 39 Residential: Real estate 278 - 278 Total $ 3,214 $ 94 $ 3,308 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. For more information on the information management used in developing its current estimate of expected credit losses and management's methodology for developing its ACL, refer to Note 1, 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 year ended December 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 (320 ) (91 ) (463 ) - - (874 ) Recoveries 57 44 165 30 - 296 Provision (benefit) for credit losses (1,089 ) 838 409 1,297 36 1,491 Ending balance $ 1,850 $ 8,835 $ 2,391 $ 5,694 $ 36 $ 18,806 Ending balance: individually evaluated $ 16 $ 165 $ 11 $ 1 $ - $ 193 Ending balance: collectively evaluated $ 1,834 $ 8,670 $ 2,380 $ 5,693 $ 36 $ 18,613 Loans Receivables: Ending balance (2) $ 247,364 $ 655,787 $ 280,401 (1) $ 501,546 $ - $ 1,685,098 Ending balance: individually evaluated $ 84 $ 5,686 $ 473 $ 613 $ - $ 6,856 Ending balance: collectively evaluated $ 247,280 $ 650,101 $ 279,928 $ 500,933 $ - $ 1,678,242 ( 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 Unfunded commitments 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 Twelve Months Ended December 31, 2023 For the Twelve Months Ended December 31, 2022 Beginning balance $ 49 $ 62 Impact of adopting ASC 326 1,060 - Provision (benefit) for credit losses (165 ) (13 ) Ending balance $ 944 $ 49 Direct finance leases The Company originates direct finance leases through two December 31, 2023 2022 December 31, 2023 2022 December 31, 2023, not The undiscounted cash flows to be received on an annual basis for the direct finance leases are as follows: (dollars in thousands) Amount 2024 $ 13,652 2025 12,261 2026 5,910 2027 1,330 2028 59 2029 and thereafter - Total future minimum lease payments receivable 33,212 Less: Unearned income (2,039 ) Undiscounted cash flows to be received $ 31,173 |
Note 6 - Bank Premises and Equi
Note 6 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. BANK PREMISES AND EQUIPMENT Components of bank premises and equipment are summarized as follows: As of December 31, (dollars in thousands) 2023 2022 Land $ 3,226 $ 3,421 Bank premises 18,328 19,105 Furniture, fixtures and equipment 15,821 15,919 Leasehold improvements 10,651 10,659 Construction in process 8,812 4,234 Total 56,838 53,338 Less accumulated depreciation and amortization (22,606 ) (22,031 ) Bank premises and equipment, net $ 34,232 $ 31,307 Depreciation expense, which includes amortization of leasehold improvements, was $2.5 million, $2.3 million and $2.2 million for the years ended December 31, 2023, 2022 2021 |
Note 7 - Deposits
Note 7 - Deposits | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 7. DEPOSITS The scheduled maturities of certificates of deposit as of December 31, 2023 (dollars in thousands) Amount Percent 2024 $ 164,919 77.4 % 2025 41,520 19.5 2026 3,316 1.6 2027 1,590 0.7 2028 1,187 0.6 2029 and thereafter 434 0.2 Total $ 212,966 100.0 % Certificates of deposit of $250,000 December 31, 2023 2022 As of December 31, 2023 2022 As of December 31, 2023 December 31, 2023 |
Note 8 - Short-term Borrowings
Note 8 - Short-term Borrowings | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | 8. SHORT-TERM BORROWINGS The components of short-term borrowings are summarized as follows: As of December 31, (dollars in thousands) 2023 2022 Overnight borrowings $ 60,000 $ 12,930 Other short-term borrowings 57,000 10 Total $ 117,000 $ 12,940 The maximum and average amounts of short-term borrowings outstanding and related interest rates as of the periods indicated are as follows: Maximum Weighted- outstanding average at any Average rate during Rate at (dollars in thousands) month end outstanding the year year-end December 31, 2023 Overnight borrowings $ 92,000 $ 22,148 5.08 % 5.50 % Federal Reserve Bank Term Funding Program 57,000 27,707 4.49 4.59 Other short-term borrowings 10 5 - - Total $ 149,010 $ 49,860 December 31, 2022 Overnight borrowings $ 12,930 $ 1,025 4.39 % 4.45 % Other short-term borrowings 10 6 0.00 - Total $ 12,940 $ 1,031 Overnight borrowings may As of December 31, 2023, FHLB borrowings are collateralized by a blanket lien on all commercial and residential real estate loans. At December 31, 2023 y $656.8 million B, $20.0 million fr y $70.4 million t |
Note 9 - FHLB Advances and Othe
Note 9 - FHLB Advances and Other Borrowings | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | 9. FHLB ADVANCES AND OTHER BORROWINGS The Company had no FHLB advances as of December 31, 2023 2022 As of December 31, 2023 2022 not December 31, 2023 2022 The maturity and weighted-average interest rate of secured borrowings as of the periods indicated is as follows: As of December 31, 2023 (dollars in thousands) Amount Rate 2024 $ 858 8.51 % 2025 - - 2026 - - 2027 - - 2028 - - 2029 and thereafter 6,467 6.40 Total $ 7,325 6.65 % |
Note 10 - Stock Plans
Note 10 - Stock Plans | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 10. STOCK PLANS 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 second 2023, one During the first 2022, February 2022 2021 During the first 2021, February March 2021 2020 third 2021, 476 one The following table summarizes the weighted-average fair value and vesting of restricted stock grants awarded during 2023 2022 2021 2022 2012 2023 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 50 (1) 35.91 Omnibus plan 50 (1) 49.43 - Omnibus plan 1,000 (3) 44.06 - Total 36,734 $ 49.28 34,570 $ 49.83 ( 1 ( 2 ( 3 The fair value of the shares granted in 2023 2022 2021 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, 2021 14,920 28,123 43,043 $ 53.20 Granted 18,000 16,570 34,570 49.83 Forfeited - (3,428 ) (3,428 ) 52.13 Vested (9,048 ) (2,651 ) (11,699 ) 52.83 Non-vested balance at December 31, 2022 23,872 38,614 62,486 $ 51.46 Granted - 36,734 36,734 49.28 Forfeited - (1,020 ) (1,020 ) 50.06 Vested (11,353 ) (13,128 ) (24,481 ) 52.57 Non-vested balance at December 31, 2023 12,519 61,200 73,719 $ 50.03 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, 2021 94,332 $ 9.66 5.5 Granted - Exercised (3,608 ) 4.20 Forfeited (3,591 ) 14.41 Outstanding December 31, 2022 87,133 $ 9.69 4.5 Granted - Exercised (22,807 ) 4.34 Forfeited - Outstanding December 31, 2023 64,326 $ 11.59 3.8 Of the SSARs outstanding at December 31, 2023 During 2023, 2022, 2021, 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 years ended December 31, 2023, 2022 2021 December 31, 2023 (dollars in thousands) 2023 2022 Stock-based compensation expense: 2012 Director stock incentive plan $ 484 $ 623 2012 Omnibus stock incentive plan 479 615 2022 Omnibus stock incentive plan 651 1 Employee stock purchase plan 34 32 Total stock-based compensation expense $ 1,648 $ 1,271 In addition, during 2021 2012 As of (dollars in thousands) December 31, 2023 Unrecognized stock-based compensation expense: 2012 Director stock incentive plan $ 289 2012 Omnibus stock incentive plan 306 2022 Omnibus stock incentive plan 1,134 Total unrecognized stock-based compensation expense $ 1,729 The unrecognized stock-based compensation expense as of December 31, 2023 February 2025, February 2025 June 2026 2012 2012 2022 In addition to the 2022 2002 December 31, 2023 During the second 2022, 2022, 2023. 2023 The Company also established the dividend reinvestment plan (the DRP) for its shareholders. The DRP is designed to avail the Company’s stock at no third December 31, 2023 e 591,730 sh |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. INCOME TAXES Pursuant to the accounting guidelines related to income taxes, the Company has evaluated its material tax positions as of December 31, 2023 2022 not” no December 31, 2023, may As of December 31, 2023 2023 2022 2021 may twelve three not 2022 2021 2020 The following temporary differences gave rise to the net deferred tax asset, a component of other assets in the consolidated balance sheets, as of the periods indicated: As of December 31, (dollars in thousands) 2023 2022 Deferred tax assets: Allowance for credit losses on loans $ 3,949 $ 3,601 Net unrealized losses on available-for-sale securities 15,010 18,914 Deferred interest from non-accrual assets 187 226 Operating lease liabilities 1,795 1,965 Acquisition accounting 1,029 1,475 Other 1,797 1,241 Total 23,767 27,422 Deferred tax liabilities: Loan fees and costs (1,945 ) (1,825 ) Automobile leasing (6,044 ) (6,635 ) Operating lease right-of-use assets (1,632 ) (1,815 ) Depreciation (1,451 ) (1,458 ) Mortgage loan servicing rights (306 ) (341 ) Total (11,378 ) (12,074 ) Deferred tax asset, net $ 12,389 $ 15,348 The components of the total provision/(benefit) for income taxes for the years indicated are as follows: Years ended December 31, (dollars in thousands) 2023 2022 Current $ 2,991 $ 3,612 Deferred (945 ) 1,835 Total provision for income taxes $ 2,046 $ 5,447 The reconciliation between the expected statutory income tax and the actual provision for income taxes is as follows: Years ended December 31, (dollars in thousands) 2023 2022 Expected provision at the statutory rate of 21% $ 4,254 $ 7,437 Tax-exempt income (2,251 ) (2,163 ) Bank owned life insurance (276 ) (242 ) Nondeductible interest expense 883 175 Tax credits (635 ) (120 ) State income tax 31 54 Other, net 40 306 Actual provision for income taxes $ 2,046 $ 5,447 |
Note 12 - Retirement Plan
Note 12 - Retirement Plan | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 12. RETIREMENT PLAN The Company has a defined contribution profit sharing 401 1974 2023 2022 |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 13. FAIR VALUE MEASUREMENTS 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: December 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 $ 111,949 $ 111,949 $ 111,949 $ - $ - Held-to-maturity securities 224,233 197,176 - 197,176 - Available-for-sale debt securities 344,040 344,040 - 344,040 - Restricted investments in bank stock 3,905 3,905 - 3,905 - Loans and leases, net 1,666,292 1,532,195 - - 1,532,195 Loans held-for-sale 1,457 1,483 - 1,483 - Accrued interest receivable 9,092 9,092 - 9,092 - Interest rate swaps 171 171 - 171 - Financial liabilities: Deposits with no stated maturities 1,945,456 1,945,456 - 1,945,456 - Time deposits 212,969 210,423 - 210,423 - Short-term borrowings 117,000 117,010 - 117,010 - Secured borrowings 7,372 8,067 - - 8,067 Accrued interest payable 3,042 3,042 - 3,042 - Interest rate swaps 2,332 2,332 - 2,332 - 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 ● Short-term borrowings and ● Accrued interest. 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) December 31, 2023 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Agency - GSE $ 27,545 $ - $ 27,545 $ - Obligations of states and political subdivisions 122,797 - 122,797 - MBS - GSE residential 193,698 - 193,698 - Total available-for-sale debt securities $ 344,040 $ - $ 344,040 $ - Interest rate swaps 171 - 171 - Total assets $ 344,211 $ - $ 344,211 $ - Liabilities: Interest rate swaps $ 2,332 $ - $ 2,332 $ - Total liabilities $ 2,332 $ - $ 2,332 $ - 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) Assets: 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 $ - Interest rate swaps 213 - 213 - Total assets $ 421,075 $ - $ 421,075 $ - Liabilities: Interest rate swaps $ 213 $ - $ 213 $ - Total liabilities $ 213 $ - $ 213 $ - 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 December 31, 2023 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 December 31, 2023 (Level 1) (Level 2) (Level 3) Individually evaluated loans Fair value of collateral appraised value $ 120 $ - $ - $ 120 Other real estate owned Fair value of asset less selling costs 1 - - 1 Total $ 121 $ - $ - $ 121 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 December 31, 2023 December 31, 2022 December 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 December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 At December 31, 2023 2022 Financial Instruments with Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The contract or notional amounts of those instruments reflect the extent of the Company’s involvement in particular classes of financial instruments. Because of the nature of these instruments, the fair values of these off-balance sheet items are not The notional amount of the Company’s financial instruments with off-balance sheet risk was as follows: December 31, (dollars in thousands) 2023 2022 Off-balance sheet financial instruments: Commitments to extend credit $ 357,124 $ 390,644 Standby letters of credit 17,294 16,634 Commitments to Extend Credit and Standby Letters of Credit The Company’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may may not Financial standby letters of credit are conditional commitments issued by the Company to guarantee performance of a customer to a third not The following table summarizes outstanding financial letters of credit, by maturity, as of December 31, 2023 More than Less than one year to Over five (dollars in thousands) one year five years years Total Secured by: Collateral $ 9,581 $ 65 $ 1,486 $ 11,132 Bank lines of credit 3,575 306 — 3,881 Other 1,624 — — 1,624 14,780 371 1,486 16,637 Unsecured 657 — — 657 Total $ 15,437 $ 371 $ 1,486 $ 17,294 The Company has not 2023 2022 |
Note 14 - Earnings Per Share
Note 14 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 14. EARNINGS PER SHARE 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 December 31, 2023 2022 not December 31, 2023 December 31, 2023 2022 not December 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 years indicated: 2023 2022 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 18,210 $ 30,021 Weighted-average common shares outstanding 5,676,711 5,644,599 Basic EPS $ 3.21 $ 5.32 Diluted EPS: Net income available to common shareholders $ 18,210 $ 30,021 Weighted-average common shares outstanding 5,676,711 5,644,599 Potentially dilutive common shares 39,991 34,540 Weighted-average common and potentially dilutive shares outstanding 5,716,702 5,679,139 Diluted EPS $ 3.19 $ 5.29 |
Note 15 - Regulatory Matters
Note 15 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 15. REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. Since the Company (on a consolidated basis) is currently considered a small bank holding company, it is not Under these guidelines, assets and certain off-balance sheet items are assigned to broad risk categories, each with appropriate weights. The resulting capital ratios represent capital as a percentage of total risk-weighted assets. The guidelines require all banks and bank holding companies to maintain a minimum ratio of total risk-based capital to total risk-weighted assets (Total Risk Adjusted Capital) of 8%, including Tier I common equity to total risk-weighted assets (Tier I Common Equity) of 4.5%, Tier I capital to total risk-weighted assets (Tier I Capital) of 6% and Tier I capital to average total assets (Leverage Ratio) of at least 4%. A capital conservation buffer, comprised of common equity Tier I capital, is also established above the regulatory minimum capital requirements of 2.50%. As of December 31, 2023 2022 The following table reflects the actual and required capital and the related capital ratios as of the periods indicated. No 2023 2022 Actual Minimum for capital adequacy purposes Minimum for capital adequacy purposes with capital conservation buffer* Minimum to be well capitalized under prompt corrective action provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2023 Total capital (to risk-weighted assets) Consolidated $ 246,120 14.7 % ≥ $ 134,255 8.0 % ≥ $ 176,209 10.5 % N/A N/A Bank $ 244,562 14.6 % ≥ $ 134,238 8.0 % ≥ $ 176,187 10.5 % ≥ $ 167,797 10.0 % Tier 1 common equity (to risk-weighted assets) Consolidated $ 225,135 13.4 % ≥ $ 75,518 4.5 % ≥ $ 117,473 7.0 % N/A N/A Bank $ 223,576 13.3 % ≥ $ 75,509 4.5 % ≥ $ 117,458 7.0 % ≥ $ 109,068 6.5 % Tier I capital (to risk-weighted assets) Consolidated $ 225,135 13.4 % ≥ $ 100,691 6.0 % ≥ $ 142,646 8.5 % N/A N/A Bank $ 223,576 13.3 % ≥ $ 100,678 6.0 % ≥ $ 142,628 8.5 % ≥ $ 134,268 8.0 % Tier I capital (to average assets) Consolidated $ 225,135 9.2 % ≥ $ 98,465 4.0 % ≥ $ 98,465 4.0 % N/A N/A Bank $ 223,576 9.1 % ≥ $ 98,457 4.0 % ≥ $ 98,457 4.0 % ≥ $ 123,071 5.0 % As of December 31, 2022 Total capital (to risk-weighted assets) Consolidated $ 230,133 14.4 % ≥ $ 128,325 8.0 % ≥ $ 168,427 10.5 % N/A N/A Bank $ 229,803 14.3 % ≥ $ 128,308 8.0 % ≥ $ 168,405 10.5 % ≥ $ 160,385 10.0 % Tier 1 common equity (to risk-weighted assets) Consolidated $ 212,935 13.3 % ≥ $ 72,183 4.5 % ≥ $ 112,285 7.0 % N/A N/A Bank $ 212,605 13.3 % ≥ $ 72,173 4.5 % ≥ $ 112,270 7.0 % ≥ $ 104,251 6.5 % Tier I capital (to risk-weighted assets) Consolidated $ 212,935 13.3 % ≥ $ 96,244 6.0 % ≥ $ 136,346 8.5 % N/A N/A Bank $ 212,605 13.3 % ≥ $ 96,231 6.0 % ≥ $ 136,328 8.5 % ≥ $ 128,308 8.0 % Tier I capital (to average assets) Consolidated $ 212,935 8.7 % ≥ $ 97,960 4.0 % ≥ $ 97,960 4.0 % N/A N/A Bank $ 212,605 8.7 % ≥ $ 97,951 4.0 % ≥ $ 97,951 4.0 % ≥ $ 122,439 5.0 % * The Company’s principal source of funds for dividend payments is dividends received from the Bank. Banking regulations and Pennsylvania law limit the amount of dividends that may December 31, 2023 2023 |
Note 16 - Related Party Transac
Note 16 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 16. RELATED PARTY TRANSACTIONS During the ordinary course of business, loans are made to executive officers, directors, greater than 5% shareholders and associates of such persons. These transactions are executed on substantially the same terms and at the rates prevailing at the time for comparable transactions with others. These loans do not 5% Years ended December 31, (dollars in thousands) 2023 2022 Balance, beginning $ 10,644 $ 11,505 Adjustments for changes in position (927 ) (75 ) Additions 2,558 1,608 Collections (1,977 ) (2,394 ) Balance, ending $ 10,298 $ 10,644 As of December 31, 2023 2022 The Pittston branch property is subject to a lease with a company of which director, William J. Joyce, Sr., is a partner. With the exception of the Pittston branch, none |
Note 17 - Contingencies
Note 17 - Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 17. CONTINGENCIES The nature of the Company’s business generates litigation involving matters arising in the ordinary course of business. However, in the opinion of management of the Company after consulting with the Company’s legal counsel, no no |
Note 18 - Recent Accounting Pro
Note 18 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 18. RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 On January 1, 2023, 2016 13 third 3rd 2022, fourth 2022, third no January 1, 2023 326 January 1, 2023 326. 2023 not The Company adopted the provisions of ASC 326 310 30 not January 1, 2023, 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 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. December 31, 2023, no In March 2023, 2023 02, Investments - Equity Method and Joint Ventures (Topic 323 December 31, 2023, not In October 2023, 2023 06, Disclosure Improvements X not In December 2023, 2023 09, Income Taxes (Topic 840 1 2 5 December 15, 2024. not not |
Note 19 - Parent Company Only
Note 19 - Parent Company Only | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 19. PARENT COMPANY ONLY The following is the condensed financial information for Fidelity D & D Bancorp, Inc. on a parent company only basis as of and for the years indicated: Condensed Balance Sheets As of December 31, (dollars in thousands) 2023 2022 Assets: Cash $ 1,992 $ 634 Investment in subsidiary 187,921 162,620 Other assets 213 214 Total $ 190,126 $ 163,468 Liabilities and shareholders' equity: Liabilities $ 646 $ 518 Capital stock and retained earnings 245,947 235,365 Treasury stock - (1,263 ) Accumulated other comprehensive income (loss) (56,467 ) (71,152 ) Total $ 190,126 $ 163,468 Condensed Income Statements Years ended December 31, (dollars in thousands) 2023 2022 Income: Equity in undistributed earnings of subsidiary $ 11,941 $ 24,128 Dividends from subsidiary 8,387 7,709 Total income 20,328 31,837 Operating expenses 2,793 2,295 Income before taxes 17,535 29,542 Credit for income taxes 675 479 Net income $ 18,210 $ 30,021 Statements of Comprehensive Income Years ended December 31, (dollars in thousands) 2023 2022 Bancorp net loss $ (2,118 ) $ (1,816 ) Equity in net income of subsidiary 20,328 31,837 Net income 18,210 30,021 Equity in other comprehensive income (loss) of subsidiary 14,685 (71,331 ) Other comprehensive income (loss), net of tax 14,685 (71,331 ) Total comprehensive income (loss), net of tax $ 32,895 $ (41,310 ) Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2023 2022 Cash flows from operating activities: Net income $ 18,210 $ 30,021 Adjustments to reconcile net income to net cash used in operations: Equity in earnings of subsidiary (20,328 ) (31,837 ) Stock-based compensation expense 1,648 1,271 Deferred income tax 10 (25 ) Changes in other assets and liabilities, net 114 (232 ) Net cash used in operating activities (346 ) (802 ) Cash flows provided by investing activities: Dividends received from subsidiary 8,387 7,709 Operating dividend from subsidiary - 700 Purchases of bank premises and equipment 4 (11 ) Net cash provided by investing activities 8,391 8,398 Cash flows used in financing activities: Dividends paid, net of dividend reinvestment (6,750 ) (7,709 ) Withholdings to purchase capital stock 302 252 Repurchase of shares to cover withholdings (239 ) (20 ) Net cash used in financing activities (6,687 ) (7,477 ) Net change in cash 1,358 119 Cash, beginning 634 515 Cash, ending $ 1,992 $ 634 |
Note 20 - Employee Benefits
Note 20 - Employee Benefits | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans, Other than Share-Based Compensation [Text Block] | 20. EMPLOYEE BENEFITS 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 $54.6 million and $54.0 million, respectively, as of December 31, 2023 2022 first 2023, December 31, 2023 2022 Officer Life Insurance The Bank enters into separate split dollar life insurance arrangements (Split Dollar Agreements) with certain officers which provide each officer a specified death benefit should the officer die while in the Bank’s employ. The Bank owns the policies and all cash values thereunder. Upon death of the covered employee, the agreed-upon amount of death proceeds from the policies will be paid directly to the insured’s beneficiary. As of December 31, 2023 the policies had total death benefits of $54.6 million of which $8.8 million would have been paid to the officer’s beneficiaries and the remaining $45.8 million would have been paid to the Bank. In addition, four executiv two December 31, 2023 2022 Supplemental Executive Retirement plan (SERP) On March 29, 2017, March 1, 2017 March 20, 2019, March 1, 2019 December 31, 2023 2022 |
Note 21 - Revenue Recognition
Note 21 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 21. REVENUE RECOGNITION 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 December 31, 2023 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 22 - Leases
Note 22 - Leases | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Lease Disclosure [Text Block] | 22. LEASES 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 December 31, 2023 third The following is an analysis of the leased property under finance leases: (dollars in thousands) December 31, 2023 December 31, 2022 Property and equipment $ 2,014 $ 1,695 Less accumulated depreciation and amortization (841 ) (606 ) Leased property under finance leases, net $ 1,173 $ 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 December 31, 2023 (dollars in thousands) Amount 2024 $ 243 2025 233 2026 222 2027 222 2028 199 2029 and thereafter 162 Total minimum lease payments (a) 1,281 Less amount representing interest (b) (80 ) Present value of net minimum lease payments $ 1,201 (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 December 31, 2023 2022, (dollars in thousands) 2023 2022 Lease cost Finance lease cost: Amortization of right-of-use assets $ 235 $ 240 Interest on lease liabilities 21 21 Operating lease cost 740 746 Short-term lease cost 84 149 Variable lease cost 54 35 Total lease cost $ 1,134 $ 1,191 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 21 $ 21 Operating cash flows from operating leases (Fixed payments) $ 701 $ 646 Operating cash flows from operating leases (Liability reduction) $ 408 $ 389 Financing cash flows from finance leases $ 229 $ 232 Right-of-use assets obtained in exchange for new finance lease liabilities $ 319 $ 119 Right-of-use assets obtained in exchange for new operating lease liabilities $ - $ 22 Weighted-average remaining lease term - finance leases (in years) 5.60 6.52 Weighted average remaining lease term - operating leases (in years) 20.44 20.62 Weighted-average discount rate - finance leases 2.52 % 1.72 % Weighted-average discount rate - operating leases 3.57 % 3.39 % During 2023 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 December 31, 2023 (dollars in thousands) Amount 2024 $ 631 2025 588 2026 595 2027 604 2028 611 2029 and thereafter 9,273 Total future minimum lease payments 12,302 Less variable payment adjustment (178 ) Less amount representing interest (3,575 ) Present value of net future minimum lease payments $ 8,549 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 at December 31, 2023 (dollars in thousands) Amount 2024 $ 51 2025 54 2026 54 2027 27 Total lease payments to be received $ 186 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 years ended December 31, (dollars in thousands) 2023 2022 Lease income - direct finance leases Interest income on lease receivables $ 1,163 $ 1,087 Lease income - operating leases 48 188 Total lease income $ 1,211 $ 1,275 |
Note 24 - Derivative Instrument
Note 24 - Derivative Instruments | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 24. The Company is exposed to certain risks relating to its ongoing business operations and economic conditions. The Company uses derivative financial instruments primarily to manage risks to the Company associated with changing interest rates and to assist customers with their risk management objectives. All derivative instruments are recognized as either assets or liabilities at fair value in the statement of financial position. Interest rate derivative - no hedge designation The Company is a party to interest rate derivatives that are not third not may may 820. no The following table summarizes the Company's free-standing derivatives: Weighted Notional Average Maturity Interest Rate Interest Rate (dollars in thousands) Amount (Years) Paid Received Fair Value December 31, 2023 Classified in Other assets: Customer interest rate swaps $ 1,895 13.91 30 Day SOFR + Margin Fixed $ 171 Classified in Accrued interest payable and other liabilities: Third party interest rate swaps $ 1,895 13.91 Fixed 30 Day SOFR + Margin $ 171 Interest rate derivative - fair value hedge designation The Company’s objectives in using interest rate derivatives are to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company has entered into interest rate swaps as part of its interest rate risk management strategy. This interest rate swap is designated as a fair value hedge and limits the risk to the investment portfolio of rising interest rates. The Company entered into an interest rate swap with a third December 31, 2023, The following table presents information pertaining to the Company's interest rate derivatives designated as a fair value hedge: Weighted Notional Average Maturity (dollars in thousands) Amount (Years) Fair Value December 31, 2023 Pay-fixed interest rate swap agreements - securities AFS $ 100,000 2.75 $ (2,161 ) The Company had investment securities with a book value of $2.8 million pledged as collateral on its interest rate swaps with a third December 31, 2023. |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 9B: During the three December 31, 2023, no 10b5 1 10b5 1 408 |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Fidelity D & D Bancorp, Inc. and its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank (the Bank) (collectively, the Company). All significant inter-company balances and transactions have been eliminated in consolidation. |
Nature of Operations [Policy Text Block] | NATURE OF OPERATIONS The Company provides a full range of banking, trust and financial services to individuals, small businesses and corporate customers. Its primary market areas are Lackawanna, Luzerne and Northampton Counties, Pennsylvania. The Company's primary deposit products are demand deposits and interest-bearing time, money market and savings accounts. It offers a full array of loan products to meet the needs of retail and commercial customers. The Company is subject to regulation by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. 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 reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses on loans, the valuation of investment securities, the determination and the amount of impairment in the securities portfolios, and the related realization of the deferred tax assets related to the allowance for credit losses on loans, credit losses on and valuations of investment securities. In connection with the determination of the allowance for credit losses on loans, management generally obtains independent appraisals for individually evaluated loans, along with discounted cash flow and weighted average remaining maturity models adjusted for qualitative factors for collectively evaluated loans. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may may may The Company’s investment securities are comprised of a variety of financial instruments. The fair values of the securities are subject to various risks including changes in the interest rate environment and general economic conditions including illiquid conditions in the capital markets. Due to the increased level of these risks and their potential impact on the fair values of the securities, it is possible that the amounts reported in the accompanying financial statements could materially change in the near-term. If credit losses exist, a contra-asset is recorded on the consolidated balance sheet, limited by the amount that fair value is less than the amortized cost basis. Any impairment that has not |
Reclassification, Comparability Adjustment [Policy Text Block] | RECLASSIFICATION Certain amounts in the prior year consolidated financial statements have been reclassified to conform to current year presentation. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | SIGNIFICANT GROUP CONCENTRATION OF CREDIT RISK The Company originates commercial, consumer, and mortgage loans to customers primarily located in Lackawanna, Luzerne and Northampton Counties of Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic sector in which the Company operates. The loan portfolio does not one |
Debt Securities, Held-to-Maturity, Premium on Purchased Options, Price [Policy Text Block] | HELD-TO-MATURITY SECURITIES Debt securities, for which the Company has the positive intent and ability to hold to maturity, are reported at amortized cost. Premiums and discounts are amortized or accreted, as a component of interest income over the life of the related security (or earlier call date for premiums) as an adjustment to yield using the interest method. The Company had held-to-maturity securities with balances of $224.2 million and $222.7 million at December 31, 2023 2022 |
Trading Securities, Policy [Policy Text Block] | TRADING SECURITIES Debt securities held principally for resale in the near-term, or trading securities, are recorded at their fair values. Unrealized gains and losses are included in other income. The Company did not 2023 2022 |
Debt Securities, Available-for-Sale, Premium on Purchased Options [Policy Text Block] | AVAILABLE-FOR-SALE SECURITIES Available-for-sale (AFS) securities consist of debt securities classified as neither held-to-maturity nor trading and are reported at fair value. Premiums and discounts are amortized or accreted as a component of interest income over the life of the related security (or earlier call date for premiums) as an adjustment to yield using the interest method. Unrealized holding gains and losses on AFS securities are reported as a separate component of shareholders’ equity, net of deferred income taxes, until realized. The net unrealized holding gains and losses are a component of accumulated other comprehensive income. Gains and losses from sales of securities AFS are determined using the specific identification method. |
Federal Home Loan Bank Stock [Policy Text Block] | FEDERAL HOME LOAN BANK STOCK The Company is a member of the Federal Home Loan Bank system, and as such is required to maintain an investment in capital stock of the Federal Home Loan Bank of Pittsburgh (FHLB). The amount the Company is required to invest is dependent upon the relative size of outstanding borrowings the Company has with the FHLB. Based on redemption provisions of the FHLB, the stock has no |
Financing Receivable [Policy Text Block] | LOANS Originated loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at face value, net of unamortized loan fees and costs and the allowance for credit losses. Interest on residential real estate loans is recorded based on principal pay downs on an actual days basis. Commercial loan interest is accrued on the principal balance on an actual days basis. Interest on consumer loans is determined using the simple interest method. Acquired loans classified as Purchase Credit Impaired (PCI) loans prior to the effective date of Accounting Standard Update (ASU) 2016 13, Financial Instruments Credit Losses (Topic 326 January 1, 2023, CECL introduced the concept of PCD financial loans, which replaces PCI loans under previous U.S. GAAP. For PCD loans, the new accounting standard requires institutions to estimate and record an allowance for credit losses for these loans at the time of purchase. This allowance is then added to the purchase price to establish the initial amortized cost basis of the PCD loans, rather than being reported as a credit loss expense. In contrast, for purchased loans within the scope of CECL that are not In addition, the definition of PCD loans is broader than the definition of PCI loans in previous accounting standards. CECL defines "purchased financial assets with credit deterioration" as "acquired individual financial assets (or acquired groups of financial assets with similar risk characteristics) that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination, as determined by an acquirer's assessment.” Generally, loans are placed on non-accrual status when principal or interest is past due 90 not first |
Mortgage Banking Activity [Policy Text Block] | MORTGAGE BANKING OPERATIONS AND MORTGAGE SERVICING RIGHTS The Company sells one four Commitments to sell one four not December 31, 2023 2022 For sales of mortgage loans originated by the Company, a portion of the cost of originating the loan is allocated to the servicing retained right based on fair value. Servicing assets are reported in other assets and amortized in proportion to and over the period during which estimated servicing income will be received. Servicing loans for others consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors, and processing foreclosures. Loan servicing income is recorded when earned and represents servicing fees from investors and certain charges collected from borrowers, such as late payment fees. The Company has fiduciary responsibility for related escrow and custodial funds. |
Derivatives, Policy [Policy Text Block] | DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recognized as assets and liabilities on the consolidated balance sheets, measured at fair value and recorded in other assets and accrued interest payable and other liabilities. Interest Rate Swap Agreements not no not Cash flows resulting from the derivative financial instruments that are accounted for as hedges of assets and liabilities are classified in the cash flow statement in the same category as the cash flows of the items being hedged. |
Financing Receivable, Held-for-Sale [Policy Text Block] | LOANS HELD-FOR-SALE Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Unrealized gains are recognized but only to the extent of previous write-downs. |
Loans and Leases Receivable, Lease Financing, Policy [Policy Text Block] | AUTOMOBILE LEASING Financing of automobiles, provided to customers under lease arrangements of varying terms obtained via an indirect arrangement primarily through a single dealer on a full recourse basis, are accounted for as direct finance leases. Interest on automobile direct finance leasing is determined using the interest method. Generally, the interest method is used 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. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ALLOWANCE FOR CREDIT LOSSES Allowance for Credit Losses on Loans 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. Commercial and industrial loans (C&I): may may Commercial real estate loans (CRE): first may no 80% may Consumer loans: may may Residential mortgage loans: first thirty 10 30 Allowance for Credit Losses on Off-Balance Sheet Credit Exposures In accordance with ASC Topic 326, not Prior to January 1, 2023 As further noted in Note 18, January 1, 2023, 2016 13 326 Prior to the adoption of ASC 326, may two not A loan was considered impaired when, based on current information and events, it was probable that the Company would be unable to collect the scheduled payments in accordance with the contractual terms of the loan. Factors considered in determining impairment included 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 taken into account. Such factors included 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. Acquired loans were marked to fair value on the date of acquisition and were evaluated on a quarterly basis to ensure the necessary purchase accounting updates were made in parallel with the allowance for loan loss calculation. The carryover of allowance for loan losses related to acquired loans was prohibited as any credit losses in the loans were included in the determination of the fair value of the loans at the acquisition date. The allowance for loan losses on acquired loans reflected only those losses incurred after acquisition and represented the present value of cash flows expected at acquisition that was no not For acquired ASC 310 30 |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | TRANSFER OF FINANCIAL ASSETS 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 |
Financing Receivable, Fee and Interest Income [Policy Text Block] | LOAN FEES AND COSTS Nonrefundable loan origination fees and certain direct loan origination costs are recognized as a component of interest income over the life of the related loans as an adjustment to yield. The unamortized balance of the deferred fees and costs are included as components of the loan balances to which they relate. ACCRUED INTEREST RECEIVABLE The Company elected not 90 Accrued interest receivable is presented separately on the consolidated balance sheets. |
Property, Plant and Equipment, Policy [Policy Text Block] | BANK PREMISES AND EQUIPMENT Land is carried at cost. Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improved property. The Company leases several branches which are classified as operating leases. The Company also leases two |
Bank Owned Life Insurance Policy [Policy Text Block] | BANK OWNED LIFE INSURANCE The Company maintains bank owned life insurance (BOLI) for a selected group of employees, namely its officers where the Company is the owner and sole beneficiary of the policies. The earnings from the BOLI are recognized as a component of other income in the consolidated statements of income. The BOLI is an asset that can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | EMPLOYEE BENEFITS 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. Monthly expenses for the SERP and post-retirement split dollar life benefit are recorded as components of salaries and employee benefit expense on the consolidated statements of income. |
Financing Receivable, Held-for-Investment, Foreclosed Asset [Policy Text Block] | FORECLOSED ASSETS HELD-FOR-SALE Foreclosed assets held-for-sale are carried at the lower of cost or fair value less cost to sell. Foreclosed assets held-for-sale is primarily other real estate owned, but also includes other repossessed assets. Losses from the acquisition of property in full and partial satisfaction of debt are treated as credit losses. Routine holding costs, gains and losses from sales, write-downs for subsequent declines in value and any rental income received are recognized net, as a component of other real estate owned expense in the consolidated statements of income. Gains or losses are recorded when the properties are sold. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets, including bank premises and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | GOODWILL AND INTANGIBLE ASSETS 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. The goodwill is not Goodwill is reviewed for impairment annually as of November 30 may not not not no not 2023, not not no Other acquired intangible assets that have finite lives, such as core deposit intangibles, are amortized over their estimated useful lives and subject to periodic impairment testing. |
Share-Based Payment Arrangement [Policy Text Block] | STOCK PLANS The Company accounts for stock-based compensation plans under the recognition and measurement accounting principles, which requires the cost of share-based payment transactions be recognized in the financial statements. The stock-based compensation accounting guidance requires that compensation cost for stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. Compensation cost is recognized on a straight-line basis over the requisite service period. When granting stock-settled stock appreciation rights (SSARs), the Company uses Black-Scholes-Merton valuation model to determine fair value on the date of grant. |
Management and Investment Advisory Fees, Policy [Policy Text Block] | TRUST AND FINANCIAL SERVICE FEES Trust and financial service fees are recorded on the cash basis, which is not |
Advertising Cost [Policy Text Block] | ADVERTISING COSTS Advertising costs are charged to expense as incurred. |
Legal Costs, Policy [Policy Text Block] | LEGAL AND PROFESSIONAL EXPENSES Generally, the Company recognizes legal and professional fees as incurred and are included as a component of professional services expense in the consolidated statements of income. Legal costs incurred that are associated with the collection of outstanding amounts due from delinquent borrowers are included as a component of loan collection expense in the consolidated statements of income. In the event of litigation proceedings brought about by an employee or third |
Income Tax, Policy [Policy Text Block] | INCOME TAXES Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The benefit of a tax position is recognized on the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than- not not not 50% not not no not no December 31, 2023 2022 |
Comprehensive Income, Policy [Policy Text Block] | COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss). |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH FLOWS For purposes of reporting cash flows, cash and cash equivalents include 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) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | As of and for the year ended December 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 income before reclassifications, net of tax 7,754 - 7,754 Amounts reclassified from accumulated other comprehensive income, net of tax 5,110 1,821 6,931 Net current-period other comprehensive income 12,864 1,821 14,685 Ending balance $ (40,760 ) $ (15,707 ) $ (56,467 ) As of and for the year ended December 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 (53,800 ) (18,867 ) (72,667 ) Amounts reclassified from accumulated other comprehensive income, net of tax (3 ) 1,339 1,336 Net current-period other comprehensive loss (53,803 ) (17,528 ) (71,331 ) Ending balance $ (53,624 ) $ (17,528 ) $ (71,152 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about accumulated other Amount reclassified from accumulated Affected line item in the statement comprehensive income components other comprehensive income where net income is presented (dollars in thousands) 2023 2022 Unrealized (losses) gains on AFS debt securities $ (6,468 ) $ 4 Gain (loss) on sale of investment securities Amortization of unrealized loss on held-to-maturity securities (2,305 ) (1,695 ) Interest income on investment securities Total reclassifications for the period (8,773 ) (1,691 ) Income before income taxes Income tax effect 1,842 355 Provision for income taxes Total reclassifications for the period $ (6,931 ) $ (1,336 ) Net income |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 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 December 31, 2023 Held-to-maturity securities: Agency - GSE $ 81,382 $ - $ (7,561 ) $ 73,821 Obligations of states and political subdivisions 142,851 - (19,496 ) 123,355 Total held-to-maturity securities $ 224,233 $ - $ (27,057 ) $ 197,176 Available-for-sale debt securities: Agency - GSE $ 31,178 $ - $ (3,633 ) $ 27,545 Obligations of states and political subdivisions 138,217 1 (15,421 ) 122,797 MBS - GSE residential 226,240 - (32,542 ) 193,698 Total available-for-sale debt securities $ 395,635 $ 1 $ (51,596 ) $ 344,040 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 24,517 22,985 Due after five years through ten years 75,811 67,550 Due after ten years 123,905 106,641 Total held-to-maturity securities $ 224,233 $ 197,176 Available-for-sale securities: Debt securities: Due in one year or less $ 750 $ 751 Due after one year through five years 26,607 24,238 Due after five years through ten years 30,766 26,343 Due after ten years 110,191 99,010 MBS - GSE residential 226,240 193,698 Total available-for-sale debt securities $ 394,554 $ 344,040 |
Schedule of Realized Gain (Loss) [Table Text Block] | December 31, (dollars in thousands) 2023 2022 Gross realized gain $ 533 $ 18 Gross realized loss (7,001 ) (14 ) Net gain $ (6,468 ) $ 4 |
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 December 31, 2023 Agency - GSE $ - $ - $ 101,366 $ (11,194 ) $ 101,366 $ (11,194 ) Obligations of states and political subdivisions 781 (22 ) 244,224 (33,814 ) 245,005 (33,836 ) MBS - GSE residential - - 193,698 (31,462 ) 193,698 (31,462 ) Total $ 781 $ (22 ) $ 539,288 $ (76,470 ) $ 540,069 $ (76,492 ) Number of securities 2 414 416 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) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (dollars in thousands) December 31, 2023 December 31, 2022 Commercial and industrial: Commercial $ 152,640 $ 141,122 Municipal 94,724 72,996 Commercial real estate: Non-owner occupied 311,565 318,296 Owner occupied 304,399 284,677 Construction 39,823 24,005 Consumer: Home equity installment 56,640 59,118 Home equity line of credit 52,348 52,568 Auto loans - Recourse 10,756 12,929 Auto loans - Non-recourse 112,595 114,909 Direct finance leases 33,601 33,223 Other 16,500 11,709 Residential: Real estate 465,010 398,136 Construction 36,536 42,232 Total 1,687,137 1,565,920 Less: Allowance for credit losses on loans (18,806 ) (17,149 ) Unearned lease revenue (2,039 ) (1,746 ) Loans and leases, net $ 1,666,292 $ 1,547,025 |
Schedule of Unamortized Net Costs and Premiums Included in Loans [Table Text Block] | (dollars in thousands) December 31, 2023 December 31, 2022 Net unamortized fair value mark discount on acquired loans $ (6,468 ) $ (9,064 ) Net unamortized deferred loan origination costs 4,930 4,630 Total $ (1,538 ) $ (4,434 ) |
Financing Receivable, Nonaccrual [Table Text Block] | (dollars in thousands) Non-accrual With No Allowance for Credit Loss Non-accrual With an Allowance for Credit Loss Total Non-accrual Loans Past Due Over 89 Days Still Accruing At December 31, 2023 Commercial and industrial: Commercial $ 39 $ 16 $ 55 $ - Municipal - - - - Commercial real estate: Non-owner occupied 252 - 252 - Owner occupied 2,040 210 2,250 - Consumer: Home equity installment 70 - 70 - Home equity line of credit 297 67 364 - Auto loans - Recourse - - - - Auto loans - Non-recourse 32 7 39 - Direct finance leases - - - 14 Other - - - - Residential: Real estate 278 - 278 - Total $ 3,008 $ 300 $ 3,308 $ 14 (dollars in thousands) December 31, 2022 Commercial and industrial $ 719 Commercial real estate: Non-owner occupied 383 Owner occupied 1,066 Consumer: Home equity line of credit 211 Auto loans 153 Residential: Real estate 3 Total $ 2,535 |
Financing Receivable, Modified [Table Text Block] | Loans modified for the twelve months ended: (dollars in thousands) December 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 and industrial: Commercial $ - $ 40 $ - $ - $ - $ - 0.03 % Commercial real estate: Non-owner occupied - - 915 3,068 - - 1.28 % Owner occupied - 1,539 125 - - - 0.55 % Total $ - $ 1,579 $ 1,040 $ 3,068 $ - $ - (dollars in thousands) December 31, 2023 Current 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Commercial and industrial: Commercial $ 40 $ - $ - $ - $ - Commercial real estate: Non-owner occupied 3,918 - 65 - 65 Owner occupied 1,664 - - - - Total $ 5,622 $ - $ 65 $ - $ 65 (dollars in thousands) December 31, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - 6.13 % 8.8 Owner occupied - - 74.0 |
Financing Receivable, Modified, Subsequent Default [Table Text Block] | Loans modified within the previous twelve months that subsequently defaulted: (dollars in thousands) December 31, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Commercial real estate: Non-owner occupied $ - $ - $ 65 $ - Total $ - $ - $ 65 $ - |
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 December 31, 2023 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial: Commercial $ 77 16 55 $ 148 $ 152,492 $ 152,640 $ - Municipal - - - - 94,724 94,724 Commercial real estate: Non-owner occupied 85 65 252 402 311,163 311,565 - Owner occupied 1,875 104 2,250 4,229 300,170 304,399 - Construction - - - - 39,823 39,823 - Consumer: Home equity installment 105 150 70 325 56,315 56,640 - Home equity line of credit 60 92 364 516 51,832 52,348 - Auto loans - Recourse 86 1 - 87 10,669 10,756 - Auto loans - Non-recourse 417 48 39 504 112,091 112,595 - Direct finance leases 548 - 14 562 31,000 31,562 (2) 14 Other 30 4 - 34 16,466 16,500 - Residential: Real estate 42 682 278 1,002 464,008 465,010 - Construction - - - - 36,536 36,536 - Total $ 3,325 $ 1,162 $ 3,322 $ 7,809 $ 1,677,289 $ 1,685,098 $ 14 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 $ 140,403 $ 141,122 $ - Municipal - - - - 72,996 72,996 - Commercial real estate: Non-owner occupied - - 383 383 317,913 318,296 - Owner occupied 42 - 1,066 1,108 283,569 284,677 - Construction - - - - 24,005 24,005 - 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 December 31, 2022 Cash basis Average Interest interest recorded income income (dollars in thousands) investment recognized recognized Commercial and industrial $ 468 $ - $ - Commercial real estate: Non-owner occupied 1,263 104 - Owner occupied 2,279 125 - Construction - - - Consumer: Home equity installment - - - Home equity line of credit 153 7 - Auto loans 162 5 - Direct finance leases - - - Other - - - Residential: Real estate 158 41 - Construction - - - Total $ 4,483 $ 282 $ - |
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 $ 30,328 $ 19,115 22,820 4,848 6,922 12,156 53,758 $ - $ 149,947 Special Mention - 597 288 - - 55 30 - 970 Substandard - - 16 20 53 324 1,310 - 1,723 Doubtful - - - - - - - - - Total commercial and industrial $ 30,328 $ 19,712 $ 23,124 $ 4,868 $ 6,975 $ 12,535 $ 55,098 $ - $ 152,640 Commercial and industrial: Current period gross write-offs $ - $ - $ 300 $ 20 $ - $ - $ - $ - $ 320 Commercial and industrial - municipal Risk Rating Pass $ 27,016 $ 13,933 $ 21,241 $ 13,137 $ 1,445 $ 17,952 $ - $ - $ 94,724 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial and industrial - municipal $ 27,016 $ 13,933 $ 21,241 $ 13,137 $ 1,445 $ 17,952 $ - $ - $ 94,724 Commercial and industrial - municipal: Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - non-owner occupied Risk Rating Pass $ 34,103 $ 37,508 71,209 42,692 17,390 89,860 $ 6,779 $ - $ 299,541 Special Mention - - 1,044 304 - 1,375 - - 2,723 Substandard - 65 1,063 129 566 7,478 - - 9,301 Doubtful - - - - - - - - - Total commercial real estate - non-owner occupied $ 34,103 $ 37,573 $ 73,316 $ 43,125 $ 17,956 $ 98,713 $ 6,779 $ - $ 311,565 Commercial real estate - non-owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ 32 $ - $ - $ 32 Commercial real estate - owner occupied Risk Rating Pass $ 29,429 59,132 47,240 29,377 24,636 84,423 9,731 $ - $ 283,968 Special Mention - 199 554 - - - 125 - 878 Substandard 7,029 379 560 - 10,991 594 - 19,553 Doubtful - - - - - - - - - Total commercial real estate - owner occupied $ 29,429 $ 66,360 $ 48,173 $ 29,937 $ 24,636 $ 95,414 $ 10,450 $ - $ 304,399 Commercial real estate - owner occupied: Current period gross write-offs $ - $ - $ - $ - $ - $ 59 $ - $ - $ 59 Commercial real estate - construction Risk Rating Pass $ 15,075 $ 17,358 $ 852 $ - $ - $ 3,739 $ 2,799 $ - $ 39,823 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial real estate - construction $ 15,075 $ 17,358 $ 852 $ - $ - $ 3,739 $ 2,799 $ - $ 39,823 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 $ 8,581 $ 17,890 $ 9,487 $ 7,988 $ 3,832 $ 8,792 $ - $ - $ 56,570 Non-performing - - - - - 70 - - 70 Total home equity installment $ 8,581 $ 17,890 $ 9,487 $ 7,988 $ 3,832 $ 8,862 $ - $ - $ 56,640 Home equity installment Current period gross write-offs $ - $ - $ - $ - $ - $ 26 $ - $ - $ 26 Home equity line of credit Payment performance Performing $ - $ - $ - $ - $ - $ - $ 40,939 $ 11,045 $ 51,984 Non-performing - - - - - - 364 - 364 Total home equity line of credit $ - $ - $ - $ - $ - $ - $ 41,303 $ 11,045 $ 52,348 Home equity line of credit Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - recourse Payment performance Performing $ 3,120 $ 1,957 $ 2,834 $ 1,926 $ 765 $ 154 $ - $ - $ 10,756 Non-performing - - - - - - - - - Total auto loans - recourse $ 3,120 $ 1,957 $ 2,834 $ 1,926 $ 765 $ 154 $ - $ - $ 10,756 Auto loans - recourse Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - non-recourse Payment performance Performing $ 39,673 $ 42,059 $ 17,314 $ 8,162 $ 3,999 $ 1,349 $ - $ - $ 112,556 Non-performing - - 3 17 - 19 - - 39 Total auto loans - non-recourse $ 39,673 $ 42,059 $ 17,317 $ 8,179 $ 3,999 $ 1,368 $ - $ - $ 112,595 Auto loans - non-recourse Current period gross write-offs $ 3 $ 7 $ 105 $ 36 $ 15 $ - $ - $ - $ 166 Direct finance leases (1) Payment performance Performing $ 11,569 $ 10,728 $ 7,508 $ 1,660 $ 83 $ - $ - $ - $ 31,548 Non-performing - - 14 - - - - - 14 Total direct finance leases $ 11,569 $ 10,728 $ 7,522 $ 1,660 $ 83 $ - $ - $ - $ 31,562 Direct finance leases Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer - other Payment performance Performing $ 8,127 $ 3,266 $ 1,963 $ 705 $ 368 $ 762 $ 1,309 $ - $ 16,500 Non-performing - - - - - - - - - Total consumer - other $ 8,127 $ 3,266 $ 1,963 $ 705 $ 368 $ 762 $ 1,309 $ - $ 16,500 Consumer - other Current period gross write-offs $ 125 $ 77 $ 16 $ 7 $ 17 $ 29 $ - $ - $ 271 Residential real estate Payment performance Performing $ 53,604 $ 80,516 $ 137,620 $ 51,710 $ 29,859 $ 111,423 $ - $ - $ 464,732 Non-performing - - - - - 278 - - 278 Total residential real estate $ 53,604 $ 80,516 $ 137,620 $ 51,710 $ 29,859 $ 111,701 $ - $ - $ 465,010 Residential real estate Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential - construction Payment performance Performing $ 10,733 $ 13,084 $ 9,267 $ 2,675 $ 343 $ 434 $ - $ - $ 36,536 Non-performing - - - - - - - - - Total residential - construction $ 10,733 $ 13,084 $ 9,267 $ 2,675 $ 343 $ 434 $ - $ - $ 36,536 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 December 31, 2023 Commercial and industrial: Commercial $ - $ 55 $ 55 Commercial real estate: Non-owner occupied 252 - 252 Owner occupied 2,250 - 2,250 Consumer: Home equity installment 70 - 70 Home equity line of credit 364 - 364 Auto loans - Non-recourse - 39 39 Residential: Real estate 278 - 278 Total $ 3,214 $ 94 $ 3,308 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | As of and for the year ended December 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 (320 ) (91 ) (463 ) - - (874 ) Recoveries 57 44 165 30 - 296 Provision (benefit) for credit losses (1,089 ) 838 409 1,297 36 1,491 Ending balance $ 1,850 $ 8,835 $ 2,391 $ 5,694 $ 36 $ 18,806 Ending balance: individually evaluated $ 16 $ 165 $ 11 $ 1 $ - $ 193 Ending balance: collectively evaluated $ 1,834 $ 8,670 $ 2,380 $ 5,693 $ 36 $ 18,613 Loans Receivables: Ending balance (2) $ 247,364 $ 655,787 $ 280,401 (1) $ 501,546 $ - $ 1,685,098 Ending balance: individually evaluated $ 84 $ 5,686 $ 473 $ 613 $ - $ 6,856 Ending balance: collectively evaluated $ 247,280 $ 650,101 $ 279,928 $ 500,933 $ - $ 1,678,242 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 |
Schedule of Credit Loss on Unfunded Commitments [Table Text Block] | (dollars in thousands) For the Twelve Months Ended December 31, 2023 For the Twelve Months Ended December 31, 2022 Beginning balance $ 49 $ 62 Impact of adopting ASC 326 1,060 - Provision (benefit) for credit losses (165 ) (13 ) Ending balance $ 944 $ 49 |
Sales-Type and Direct Financing Leases, Payment to be Received, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 13,652 2025 12,261 2026 5,910 2027 1,330 2028 59 2029 and thereafter - Total future minimum lease payments receivable 33,212 Less: Unearned income (2,039 ) Undiscounted cash flows to be received $ 31,173 |
Note 6 - Bank Premises and Eq_2
Note 6 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of December 31, (dollars in thousands) 2023 2022 Land $ 3,226 $ 3,421 Bank premises 18,328 19,105 Furniture, fixtures and equipment 15,821 15,919 Leasehold improvements 10,651 10,659 Construction in process 8,812 4,234 Total 56,838 53,338 Less accumulated depreciation and amortization (22,606 ) (22,031 ) Bank premises and equipment, net $ 34,232 $ 31,307 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Time Deposit Maturities [Table Text Block] | (dollars in thousands) Amount Percent 2024 $ 164,919 77.4 % 2025 41,520 19.5 2026 3,316 1.6 2027 1,590 0.7 2028 1,187 0.6 2029 and thereafter 434 0.2 Total $ 212,966 100.0 % |
Note 8 - Short-term Borrowings
Note 8 - Short-term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Short-Term Debt [Table Text Block] | As of December 31, (dollars in thousands) 2023 2022 Overnight borrowings $ 60,000 $ 12,930 Other short-term borrowings 57,000 10 Total $ 117,000 $ 12,940 Maximum Weighted- outstanding average at any Average rate during Rate at (dollars in thousands) month end outstanding the year year-end December 31, 2023 Overnight borrowings $ 92,000 $ 22,148 5.08 % 5.50 % Federal Reserve Bank Term Funding Program 57,000 27,707 4.49 4.59 Other short-term borrowings 10 5 - - Total $ 149,010 $ 49,860 December 31, 2022 Overnight borrowings $ 12,930 $ 1,025 4.39 % 4.45 % Other short-term borrowings 10 6 0.00 - Total $ 12,940 $ 1,031 |
Note 9 - FHLB Advances and Ot_2
Note 9 - FHLB Advances and Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Secured Borrowings, Maturities and Weighted-average Interest Rates [Table Text Block] | As of December 31, 2023 (dollars in thousands) Amount Rate 2024 $ 858 8.51 % 2025 - - 2026 - - 2027 - - 2028 - - 2029 and thereafter 6,467 6.40 Total $ 7,325 6.65 % |
Note 10 - Stock Plans (Tables)
Note 10 - Stock Plans (Tables) | 12 Months Ended |
Dec. 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] | 2023 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 50 (1) 35.91 Omnibus plan 50 (1) 49.43 - Omnibus plan 1,000 (3) 44.06 - Total 36,734 $ 49.28 34,570 $ 49.83 |
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, 2021 14,920 28,123 43,043 $ 53.20 Granted 18,000 16,570 34,570 49.83 Forfeited - (3,428 ) (3,428 ) 52.13 Vested (9,048 ) (2,651 ) (11,699 ) 52.83 Non-vested balance at December 31, 2022 23,872 38,614 62,486 $ 51.46 Granted - 36,734 36,734 49.28 Forfeited - (1,020 ) (1,020 ) 50.06 Vested (11,353 ) (13,128 ) (24,481 ) 52.57 Non-vested balance at December 31, 2023 12,519 61,200 73,719 $ 50.03 |
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, 2021 94,332 $ 9.66 5.5 Granted - Exercised (3,608 ) 4.20 Forfeited (3,591 ) 14.41 Outstanding December 31, 2022 87,133 $ 9.69 4.5 Granted - Exercised (22,807 ) 4.34 Forfeited - Outstanding December 31, 2023 64,326 $ 11.59 3.8 |
Share-Based Payment Arrangement, Cost by Plan [Table Text Block] | (dollars in thousands) 2023 2022 Stock-based compensation expense: 2012 Director stock incentive plan $ 484 $ 623 2012 Omnibus stock incentive plan 479 615 2022 Omnibus stock incentive plan 651 1 Employee stock purchase plan 34 32 Total stock-based compensation expense $ 1,648 $ 1,271 |
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | As of (dollars in thousands) December 31, 2023 Unrecognized stock-based compensation expense: 2012 Director stock incentive plan $ 289 2012 Omnibus stock incentive plan 306 2022 Omnibus stock incentive plan 1,134 Total unrecognized stock-based compensation expense $ 1,729 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, (dollars in thousands) 2023 2022 Deferred tax assets: Allowance for credit losses on loans $ 3,949 $ 3,601 Net unrealized losses on available-for-sale securities 15,010 18,914 Deferred interest from non-accrual assets 187 226 Operating lease liabilities 1,795 1,965 Acquisition accounting 1,029 1,475 Other 1,797 1,241 Total 23,767 27,422 Deferred tax liabilities: Loan fees and costs (1,945 ) (1,825 ) Automobile leasing (6,044 ) (6,635 ) Operating lease right-of-use assets (1,632 ) (1,815 ) Depreciation (1,451 ) (1,458 ) Mortgage loan servicing rights (306 ) (341 ) Total (11,378 ) (12,074 ) Deferred tax asset, net $ 12,389 $ 15,348 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years ended December 31, (dollars in thousands) 2023 2022 Current $ 2,991 $ 3,612 Deferred (945 ) 1,835 Total provision for income taxes $ 2,046 $ 5,447 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years ended December 31, (dollars in thousands) 2023 2022 Expected provision at the statutory rate of 21% $ 4,254 $ 7,437 Tax-exempt income (2,251 ) (2,163 ) Bank owned life insurance (276 ) (242 ) Nondeductible interest expense 883 175 Tax credits (635 ) (120 ) State income tax 31 54 Other, net 40 306 Actual provision for income taxes $ 2,046 $ 5,447 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 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 $ 111,949 $ 111,949 $ 111,949 $ - $ - Held-to-maturity securities 224,233 197,176 - 197,176 - Available-for-sale debt securities 344,040 344,040 - 344,040 - Restricted investments in bank stock 3,905 3,905 - 3,905 - Loans and leases, net 1,666,292 1,532,195 - - 1,532,195 Loans held-for-sale 1,457 1,483 - 1,483 - Accrued interest receivable 9,092 9,092 - 9,092 - Interest rate swaps 171 171 - 171 - Financial liabilities: Deposits with no stated maturities 1,945,456 1,945,456 - 1,945,456 - Time deposits 212,969 210,423 - 210,423 - Short-term borrowings 117,000 117,010 - 117,010 - Secured borrowings 7,372 8,067 - - 8,067 Accrued interest payable 3,042 3,042 - 3,042 - Interest rate swaps 2,332 2,332 - 2,332 - 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) December 31, 2023 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Agency - GSE $ 27,545 $ - $ 27,545 $ - Obligations of states and political subdivisions 122,797 - 122,797 - MBS - GSE residential 193,698 - 193,698 - Total available-for-sale debt securities $ 344,040 $ - $ 344,040 $ - Interest rate swaps 171 - 171 - Total assets $ 344,211 $ - $ 344,211 $ - Liabilities: Interest rate swaps $ 2,332 $ - $ 2,332 $ - Total liabilities $ 2,332 $ - $ 2,332 $ - 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) Assets: 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 $ - Interest rate swaps 213 - 213 - Total assets $ 421,075 $ - $ 421,075 $ - Liabilities: Interest rate swaps $ 213 $ - $ 213 $ - Total liabilities $ 213 $ - $ 213 $ - |
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 December 31, 2023 (Level 1) (Level 2) (Level 3) Individually evaluated loans Fair value of collateral appraised value $ 120 $ - $ - $ 120 Other real estate owned Fair value of asset less selling costs 1 - - 1 Total $ 121 $ - $ - $ 121 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 |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | December 31, (dollars in thousands) 2023 2022 Off-balance sheet financial instruments: Commitments to extend credit $ 357,124 $ 390,644 Standby letters of credit 17,294 16,634 |
Supply Commitment [Table Text Block] | More than Less than one year to Over five (dollars in thousands) one year five years years Total Secured by: Collateral $ 9,581 $ 65 $ 1,486 $ 11,132 Bank lines of credit 3,575 306 — 3,881 Other 1,624 — — 1,624 14,780 371 1,486 16,637 Unsecured 657 — — 657 Total $ 15,437 $ 371 $ 1,486 $ 17,294 |
Note 14 - Earnings Per Share (T
Note 14 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2023 2022 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 18,210 $ 30,021 Weighted-average common shares outstanding 5,676,711 5,644,599 Basic EPS $ 3.21 $ 5.32 Diluted EPS: Net income available to common shareholders $ 18,210 $ 30,021 Weighted-average common shares outstanding 5,676,711 5,644,599 Potentially dilutive common shares 39,991 34,540 Weighted-average common and potentially dilutive shares outstanding 5,716,702 5,679,139 Diluted EPS $ 3.19 $ 5.29 |
Note 15 - Regulatory Matters (T
Note 15 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum for capital adequacy purposes Minimum for capital adequacy purposes with capital conservation buffer* Minimum to be well capitalized under prompt corrective action provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2023 Total capital (to risk-weighted assets) Consolidated $ 246,120 14.7 % ≥ $ 134,255 8.0 % ≥ $ 176,209 10.5 % N/A N/A Bank $ 244,562 14.6 % ≥ $ 134,238 8.0 % ≥ $ 176,187 10.5 % ≥ $ 167,797 10.0 % Tier 1 common equity (to risk-weighted assets) Consolidated $ 225,135 13.4 % ≥ $ 75,518 4.5 % ≥ $ 117,473 7.0 % N/A N/A Bank $ 223,576 13.3 % ≥ $ 75,509 4.5 % ≥ $ 117,458 7.0 % ≥ $ 109,068 6.5 % Tier I capital (to risk-weighted assets) Consolidated $ 225,135 13.4 % ≥ $ 100,691 6.0 % ≥ $ 142,646 8.5 % N/A N/A Bank $ 223,576 13.3 % ≥ $ 100,678 6.0 % ≥ $ 142,628 8.5 % ≥ $ 134,268 8.0 % Tier I capital (to average assets) Consolidated $ 225,135 9.2 % ≥ $ 98,465 4.0 % ≥ $ 98,465 4.0 % N/A N/A Bank $ 223,576 9.1 % ≥ $ 98,457 4.0 % ≥ $ 98,457 4.0 % ≥ $ 123,071 5.0 % As of December 31, 2022 Total capital (to risk-weighted assets) Consolidated $ 230,133 14.4 % ≥ $ 128,325 8.0 % ≥ $ 168,427 10.5 % N/A N/A Bank $ 229,803 14.3 % ≥ $ 128,308 8.0 % ≥ $ 168,405 10.5 % ≥ $ 160,385 10.0 % Tier 1 common equity (to risk-weighted assets) Consolidated $ 212,935 13.3 % ≥ $ 72,183 4.5 % ≥ $ 112,285 7.0 % N/A N/A Bank $ 212,605 13.3 % ≥ $ 72,173 4.5 % ≥ $ 112,270 7.0 % ≥ $ 104,251 6.5 % Tier I capital (to risk-weighted assets) Consolidated $ 212,935 13.3 % ≥ $ 96,244 6.0 % ≥ $ 136,346 8.5 % N/A N/A Bank $ 212,605 13.3 % ≥ $ 96,231 6.0 % ≥ $ 136,328 8.5 % ≥ $ 128,308 8.0 % Tier I capital (to average assets) Consolidated $ 212,935 8.7 % ≥ $ 97,960 4.0 % ≥ $ 97,960 4.0 % N/A N/A Bank $ 212,605 8.7 % ≥ $ 97,951 4.0 % ≥ $ 97,951 4.0 % ≥ $ 122,439 5.0 % |
Note 16 - Related Party Trans_2
Note 16 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Years ended December 31, (dollars in thousands) 2023 2022 Balance, beginning $ 10,644 $ 11,505 Adjustments for changes in position (927 ) (75 ) Additions 2,558 1,608 Collections (1,977 ) (2,394 ) Balance, ending $ 10,298 $ 10,644 |
Note 19 - Parent Company Only (
Note 19 - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets As of December 31, (dollars in thousands) 2023 2022 Assets: Cash $ 1,992 $ 634 Investment in subsidiary 187,921 162,620 Other assets 213 214 Total $ 190,126 $ 163,468 Liabilities and shareholders' equity: Liabilities $ 646 $ 518 Capital stock and retained earnings 245,947 235,365 Treasury stock - (1,263 ) Accumulated other comprehensive income (loss) (56,467 ) (71,152 ) Total $ 190,126 $ 163,468 |
Condensed Income Statement [Table Text Block] | Condensed Income Statements Years ended December 31, (dollars in thousands) 2023 2022 Income: Equity in undistributed earnings of subsidiary $ 11,941 $ 24,128 Dividends from subsidiary 8,387 7,709 Total income 20,328 31,837 Operating expenses 2,793 2,295 Income before taxes 17,535 29,542 Credit for income taxes 675 479 Net income $ 18,210 $ 30,021 |
Condensed Statement of Comprehensive Income [Table Text Block] | Statements of Comprehensive Income Years ended December 31, (dollars in thousands) 2023 2022 Bancorp net loss $ (2,118 ) $ (1,816 ) Equity in net income of subsidiary 20,328 31,837 Net income 18,210 30,021 Equity in other comprehensive income (loss) of subsidiary 14,685 (71,331 ) Other comprehensive income (loss), net of tax 14,685 (71,331 ) Total comprehensive income (loss), net of tax $ 32,895 $ (41,310 ) |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2023 2022 Cash flows from operating activities: Net income $ 18,210 $ 30,021 Adjustments to reconcile net income to net cash used in operations: Equity in earnings of subsidiary (20,328 ) (31,837 ) Stock-based compensation expense 1,648 1,271 Deferred income tax 10 (25 ) Changes in other assets and liabilities, net 114 (232 ) Net cash used in operating activities (346 ) (802 ) Cash flows provided by investing activities: Dividends received from subsidiary 8,387 7,709 Operating dividend from subsidiary - 700 Purchases of bank premises and equipment 4 (11 ) Net cash provided by investing activities 8,391 8,398 Cash flows used in financing activities: Dividends paid, net of dividend reinvestment (6,750 ) (7,709 ) Withholdings to purchase capital stock 302 252 Repurchase of shares to cover withholdings (239 ) (20 ) Net cash used in financing activities (6,687 ) (7,477 ) Net change in cash 1,358 119 Cash, beginning 634 515 Cash, ending $ 1,992 $ 634 |
Note 22 - Leases (Tables)
Note 22 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lessee, Finance Lease, Assets and Liabilities [Table Text Block] | (dollars in thousands) December 31, 2023 December 31, 2022 Property and equipment $ 2,014 $ 1,695 Less accumulated depreciation and amortization (841 ) (606 ) Leased property under finance leases, net $ 1,173 $ 1,089 |
Finance Lease, Liability, to be Paid, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 243 2025 233 2026 222 2027 222 2028 199 2029 and thereafter 162 Total minimum lease payments (a) 1,281 Less amount representing interest (b) (80 ) Present value of net minimum lease payments $ 1,201 |
Lease, Cost [Table Text Block] | (dollars in thousands) 2023 2022 Lease cost Finance lease cost: Amortization of right-of-use assets $ 235 $ 240 Interest on lease liabilities 21 21 Operating lease cost 740 746 Short-term lease cost 84 149 Variable lease cost 54 35 Total lease cost $ 1,134 $ 1,191 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 21 $ 21 Operating cash flows from operating leases (Fixed payments) $ 701 $ 646 Operating cash flows from operating leases (Liability reduction) $ 408 $ 389 Financing cash flows from finance leases $ 229 $ 232 Right-of-use assets obtained in exchange for new finance lease liabilities $ 319 $ 119 Right-of-use assets obtained in exchange for new operating lease liabilities $ - $ 22 Weighted-average remaining lease term - finance leases (in years) 5.60 6.52 Weighted average remaining lease term - operating leases (in years) 20.44 20.62 Weighted-average discount rate - finance leases 2.52 % 1.72 % Weighted-average discount rate - operating leases 3.57 % 3.39 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 631 2025 588 2026 595 2027 604 2028 611 2029 and thereafter 9,273 Total future minimum lease payments 12,302 Less variable payment adjustment (178 ) Less amount representing interest (3,575 ) Present value of net future minimum lease payments $ 8,549 |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 51 2025 54 2026 54 2027 27 Total lease payments to be received $ 186 |
Lease Income [Table Text Block] | For the years ended December 31, (dollars in thousands) 2023 2022 Lease income - direct finance leases Interest income on lease receivables $ 1,163 $ 1,087 Lease income - operating leases 48 188 Total lease income $ 1,211 $ 1,275 |
Note 24 - Derivative Instrume_2
Note 24 - Derivative Instruments (Tables) | 12 Months Ended |
Dec. 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 December 31, 2023 Classified in Other assets: Customer interest rate swaps $ 1,895 13.91 30 Day SOFR + Margin Fixed $ 171 Classified in Accrued interest payable and other liabilities: Third party interest rate swaps $ 1,895 13.91 Fixed 30 Day SOFR + Margin $ 171 Weighted Notional Average Maturity (dollars in thousands) Amount (Years) Fair Value December 31, 2023 Pay-fixed interest rate swap agreements - securities AFS $ 100,000 2.75 $ (2,161 ) |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 224,233 | $ 222,744 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 0 | $ 0 |
Executive Officer [Member] | ||
Number of Individuals with Split Dollar Life Insurance Arrangement | 4 |
Note 2 - Cash (Details Textual)
Note 2 - Cash (Details Textual) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Federal Reserve Bank, Reserve Requirement | $ 0 | $ 0 |
Cash, FDIC Insured Amount | $ 250,000 |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance | $ 162,950 | $ 211,729 |
Other comprehensive income (loss), net of tax | 14,685 | (71,331) |
Balance | 189,479 | 162,950 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Balance | (53,624) | 179 |
Other comprehensive income before reclassifications, net of tax | 7,754 | (53,800) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 5,110 | (3) |
Other comprehensive income (loss), net of tax | 12,864 | (53,803) |
Balance | (40,760) | (53,624) |
AOCI, Gain (Loss), Debt Securities, Securities Transferred To Held-to-maturity [Member] | ||
Balance | (17,528) | 0 |
Other comprehensive income before reclassifications, net of tax | 0 | (18,867) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 1,821 | 1,339 |
Other comprehensive income (loss), net of tax | 1,821 | (17,528) |
Balance | (15,707) | (17,528) |
AOCI Attributable to Parent [Member] | ||
Balance | (71,152) | 179 |
Other comprehensive income before reclassifications, net of tax | 7,754 | (72,667) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 6,931 | 1,336 |
Other comprehensive income (loss), net of tax | 14,685 | (71,331) |
Balance | $ (56,467) | $ (71,152) |
Note 3 - Accumulated Other Co_4
Note 3 - Accumulated Other Comprehensive Income - Amount Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Gain (loss) on sale of investment securities | $ (6,468) | $ 4 |
Income before income taxes | 20,256 | 35,468 |
Provision for income taxes | 2,046 | 5,447 |
Net income | 18,210 | 30,021 |
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 | (6,468) | 4 |
Interest income on investment securities | (2,305) | (1,695) |
Income before income taxes | (8,773) | (1,691) |
Provision for income taxes | 1,842 | 355 |
Net income | $ (6,931) | $ (1,336) |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) $ in Thousands | Apr. 01, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Debt Securities, Available-for-Sale, Allowance for Credit Loss | $ 0 | ||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | ||
Debt Securities, Available-for-Sale, Increase to the Carrying Value Resulting From Derivative Instrument That Increased the Unrealized Loss Position | $ 2,200 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 416 | 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 | ||
Asset Pledged as Collateral [Member] | Deposits [Member] | |||
Debt Securities | $ 424,000 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Increase From Derivative Instruments | $ 1,100 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 235 | ||
US States and Political Subdivisions Debt Securities [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1213 | ||
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 | 0.0994 | ||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 135 | ||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1397 | ||
Accrued Interest Receivable [Member] | |||
Interest Receivable, Investment Securities | $ 3,400 | $ 4,000 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Held-to-maturity securities (fair value of $197,176 in 2023; $187,280 in 2022) | $ 224,233 | $ 222,744 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (27,057) | (35,464) |
Held to maturity securities, fair value | 197,176 | 187,280 |
Available for sale securities, amortized cost | 395,635 | 488,741 |
Available for sale debt securities, gross unrealized gains | 1 | 501 |
Available for sale securities, gross unrealized losses | (51,596) | (68,380) |
Available for sale debt security, fair value | 344,040 | 420,862 |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity securities (fair value of $197,176 in 2023; $187,280 in 2022) | 81,382 | 80,306 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (7,561) | (9,243) |
Held to maturity securities, fair value | 73,821 | 71,063 |
Available for sale securities, amortized cost | 31,178 | 36,076 |
Available for sale debt securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (3,633) | (4,543) |
Available for sale debt security, fair value | 27,545 | 31,533 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held-to-maturity securities (fair value of $197,176 in 2023; $187,280 in 2022) | 142,851 | 142,438 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (19,496) | (26,221) |
Held to maturity securities, fair value | 123,355 | 116,217 |
Available for sale securities, amortized cost | 138,217 | 197,935 |
Available for sale debt securities, gross unrealized gains | 1 | 501 |
Available for sale securities, gross unrealized losses | (15,421) | (26,542) |
Available for sale debt security, fair value | 122,797 | 171,894 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities, amortized cost | 226,240 | 254,730 |
Available for sale debt securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (32,542) | (37,295) |
Available for sale debt security, fair value | $ 193,698 | $ 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 | Dec. 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 | 24,517 | |
Due after one year through five years | 22,985 | |
Due after five years through ten years | 75,811 | |
Due after five years through ten years | 67,550 | |
Due after ten years | 123,905 | |
Due after ten years | 106,641 | |
Total held-to-maturity securities | 224,233 | |
Total held-to-maturity securities | 197,176 | |
Due in one year or less | 750 | |
Due in one year or less | 751 | |
Due after one year through five years | 26,607 | |
Due after one year through five years | 24,238 | |
Due after five years through ten years | 30,766 | |
Due after five years through ten years | 26,343 | |
Due after ten years | 110,191 | |
Due after ten years | 99,010 | |
MBS - GSE residential, amortized cost | 226,240 | |
MBS - GSE residential, fair value | 193,698 | |
Total available-for-sale debt securities | 394,554 | |
Total available-for-sale debt securities, fair value | $ 344,040 | $ 420,862 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Realized Gains and Losses From Debt Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Gross realized gain | $ 533 | $ 18 |
Gross realized loss | (7,001) | (14) |
Net gain | $ (6,468) | $ 4 |
Note 4 - Investment Securitie_6
Note 4 - Investment Securities - Continuous Unrealized Loss Position (Details) $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Unrealized loss position, fair value, less than 12 months | $ 781 | $ 241,572 |
Unrealized loss position, unrealized losses, less than 12 months | (22) | (33,323) |
Unrealized loss position, fair value, more than 12 months | 539,288 | 361,297 |
Unrealized loss position, unrealized losses, more than 12 months | (76,470) | (70,521) |
Unrealized loss position, fair value | 540,069 | 602,869 |
Unrealized loss position, unrealized losses | $ (76,492) | $ (103,844) |
Number of securities, less than 12 months | 2 | 272 |
Number of securities, more than 12 months | 414 | 213 |
Number of securities | 416 | 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 | 101,366 | 93,312 |
Unrealized loss position, unrealized losses, more than 12 months | (11,194) | (13,409) |
Unrealized loss position, fair value | 101,366 | 102,597 |
Unrealized loss position, unrealized losses | $ (11,194) | (13,786) |
Number of securities | 46 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 781 | 170,484 |
Unrealized loss position, unrealized losses, less than 12 months | (22) | (26,928) |
Unrealized loss position, fair value, more than 12 months | 244,224 | 112,353 |
Unrealized loss position, unrealized losses, more than 12 months | (33,814) | (25,835) |
Unrealized loss position, fair value | 245,005 | 282,837 |
Unrealized loss position, unrealized losses | $ (33,836) | (52,763) |
Number of securities | 235 | |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 0 | 61,803 |
Unrealized loss position, unrealized losses, less than 12 months | 0 | (6,018) |
Unrealized loss position, fair value, more than 12 months | 193,698 | 155,632 |
Unrealized loss position, unrealized losses, more than 12 months | (31,462) | (31,277) |
Unrealized loss position, fair value | 193,698 | 217,435 |
Unrealized loss position, unrealized losses | $ (31,462) | $ (37,295) |
Number of securities | 135 |
Note 5 - Loans and Leases (Deta
Note 5 - Loans and Leases (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |||
Financing Receivable, before Allowance for Credit Loss | $ 1,685,098 | [1],[2] | $ 1,564,174 | [3],[4] |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | 5,700 | 4,500 | ||
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | 477,700 | 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, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | |||
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (6,468) | (9,064) | ||
Financing Receivable, Unamortized Loan Cost (Fee) | 4,930 | 4,630 | ||
Impaired Financing Receivable, Recorded Investment | 3,868 | |||
Direct Financing Lease, Net Investment in Lease, before Allowance for Credit Loss | 6,100 | 7,900 | ||
Direct Financing Lease, Residual Value of Leased Asset | 25,100 | 23,600 | ||
Deferred Costs, Leasing, Net | 389 | |||
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] | ||||
Financing Receivable, before Allowance for Credit Loss | 280,401 | [1],[5] | $ 282,710 | [3],[6] |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 31,562 | 31,477 | [4],[6] | |
Financing Receivable, Unamortized Purchase Premium (Discount) | 2,000 | $ 1,700 | ||
Reclassified From Commercial and Industrial Loans to Other Loan Segments [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 25,400 | |||
Reclassified From Commercial and Industrial Loans to Municipal Loans [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 5,000 | |||
Reclassified From Commercial and Industrial Loans to Commercial Real Estate Non-owner Occupied Loans [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 1,400 | |||
Reclassified From Commercial and Industrial Loans to Commercial Real Estate Owner Occupied Loans [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 13,900 | |||
Reclassified From Commercial and Industrial Loans to Commercial Real Estate Construction Loans [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | $ 5,100 | |||
[1]Includes $4.9 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.9 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 $2.0 million[6]Net of unearned lease revenue of $1.7 million. |
Note 5 - Loans and Leases - Cla
Note 5 - Loans and Leases - Classifications of Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Notes receivable, gross | $ 1,687,137 | $ 1,565,920 | |
Allowance for credit losses on loans | (18,806) | (17,149) | $ (15,624) |
Unearned lease revenue | (2,039) | (1,746) | |
Loans and leases, net | 1,666,292 | 1,547,025 | |
Commercial Portfolio Segment [Member] | |||
Allowance for credit losses on loans | (1,850) | (2,924) | (2,204) |
Loans and leases, net | 234,478 | ||
Commercial Portfolio Segment [Member] | Commercial [Member] | |||
Notes receivable, gross | 152,640 | 141,122 | |
Commercial Portfolio Segment [Member] | Municipal [Member] | |||
Notes receivable, gross | 94,724 | 72,996 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Allowance for credit losses on loans | (8,835) | (7,162) | (7,422) |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||
Notes receivable, gross | 311,565 | 318,296 | |
Loans and leases, net | 316,867 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||
Notes receivable, gross | 304,399 | 284,677 | |
Loans and leases, net | 270,810 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Notes receivable, gross | 39,823 | 24,005 | |
Loans and leases, net | 18,941 | ||
Consumer Portfolio Segment [Member] | |||
Allowance for credit losses on loans | (2,391) | (2,827) | (2,404) |
Loans and leases, net | 282,710 | ||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Notes receivable, gross | 56,640 | 59,118 | |
Loans and leases, net | 59,118 | ||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||
Notes receivable, gross | 52,348 | 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 | 10,756 | 12,929 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||
Notes receivable, gross | 112,595 | 114,909 | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||
Notes receivable, gross | 33,601 | 33,223 | |
Loans and leases, net | 31,477 | ||
Consumer Portfolio Segment [Member] | Other Loan [Member] | |||
Notes receivable, gross | 16,500 | 11,709 | |
Loans and leases, net | 7,611 | ||
Residential Portfolio Segment [Member] | |||
Allowance for credit losses on loans | (5,694) | (4,169) | $ (3,508) |
Loans and leases, net | 440,368 | ||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||
Notes receivable, gross | 36,536 | 42,232 | |
Loans and leases, net | 42,232 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Notes receivable, gross | $ 465,010 | 398,136 | |
Loans and leases, net | $ 398,136 |
Note 5 - Loans and Leases - Una
Note 5 - Loans and Leases - Unamortized Nets Costs and Premiums Included in Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (6,468) | $ (9,064) |
Financing Receivable, Unamortized Loan Cost (Fee) | 4,930 | 4,630 |
Total | $ (1,538) | $ (4,434) |
Note 5 - Loans and Leases - Non
Note 5 - Loans and Leases - Non-accrual Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Nonaccrual with no allowance | $ 3,008 | |
Nonaccrual with allowance | 300 | |
Nonaccrual loans | 3,308 | $ 2,535 |
Loans Past Due and Still Accruing | 14 | 33 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual loans | 719 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Nonaccrual with no allowance | 39 | |
Nonaccrual with allowance | 16 | |
Nonaccrual loans | 55 | |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Municipal [Member] | ||
Nonaccrual with no allowance | 0 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 0 | |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||
Nonaccrual with no allowance | 252 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 252 | 383 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||
Nonaccrual with no allowance | 2,040 | |
Nonaccrual with allowance | 210 | |
Nonaccrual loans | 2,250 | 1,066 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Nonaccrual with no allowance | 297 | |
Nonaccrual with allowance | 67 | |
Nonaccrual loans | 364 | 211 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Nonaccrual with no allowance | 70 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 70 | |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Nonaccrual loans | 153 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||
Nonaccrual with no allowance | 0 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 0 | |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||
Nonaccrual with no allowance | 32 | |
Nonaccrual with allowance | 7 | |
Nonaccrual loans | 39 | |
Loans Past Due and Still Accruing | 0 | 16 |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||
Nonaccrual with no allowance | 0 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 0 | |
Loans Past Due and Still Accruing | 14 | 17 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||
Nonaccrual with no allowance | 0 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 0 | |
Loans Past Due and Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Nonaccrual with no allowance | 278 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 278 | 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 | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Modification percent | |
Principal Forgiveness [Member] | |
Modification amount | $ 0 |
Payment Deferral [Member] | |
Modification amount | 1,579 |
Extended Maturity [Member] | |
Modification amount | 1,040 |
Contractual Interest Rate Reduction [Member] | |
Modification amount | 3,068 |
Extended Maturity and Principal Forgiveness [Member] | |
Modification amount | 0 |
Extended Maturity and Interest Rate Reduction [Member] | |
Modification amount | 0 |
Financial Asset, Not Past Due [Member] | |
Modification amount | 5,622 |
Financial Asset, 30 to 59 Days Past Due [Member] | |
Modification amount | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | |
Modification amount | 65 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modification amount | 0 |
Financial Asset, Past Due [Member] | |
Modification amount | $ 65 |
Commercial Portfolio Segment [Member] | Commercial [Member] | |
Modification percent | 0.03% |
Commercial Portfolio Segment [Member] | Commercial [Member] | Principal Forgiveness [Member] | |
Modification amount | $ 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Payment Deferral [Member] | |
Modification amount | 40 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Extended Maturity [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Contractual Interest Rate Reduction [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Extended Maturity and Principal Forgiveness [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Extended Maturity and Interest Rate Reduction [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Financial Asset, Not Past Due [Member] | |
Modification amount | 40 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Financial Asset, Past Due [Member] | |
Modification amount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |
Modification percent | 1.28% |
Principal Forgiveness | $ 0 |
Weighted-Average Interest Rate Reduction | 6.13% |
Weighted-Average Term Extension (Month) | 8 months 24 days |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Principal Forgiveness [Member] | |
Modification amount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Payment Deferral [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity [Member] | |
Modification amount | 915 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Contractual Interest Rate Reduction [Member] | |
Modification amount | 3,068 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity and Principal Forgiveness [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity and Interest Rate Reduction [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |
Modification amount | 3,918 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |
Modification amount | 65 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Past Due [Member] | |
Modification amount | $ 65 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |
Modification percent | 0.55% |
Principal Forgiveness | $ 0 |
Weighted-Average Interest Rate Reduction | 0% |
Weighted-Average Term Extension (Month) | 74 months |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Principal Forgiveness [Member] | |
Modification amount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Payment Deferral [Member] | |
Modification amount | 1,539 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Extended Maturity [Member] | |
Modification amount | 125 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Contractual Interest Rate Reduction [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Extended Maturity and Principal Forgiveness [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Extended Maturity and Interest Rate Reduction [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |
Modification amount | 1,664 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modification amount | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Financial Asset, Past Due [Member] | |
Modification amount | $ 0 |
Note 5 - Loans and Leases - Sum
Note 5 - Loans and Leases - Summary of Financing Receivables With Payment Default (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Principal Forgiveness [Member] | |
Modified, Subsequent Default | $ 0 |
Payment Deferral [Member] | |
Modified, Subsequent Default | 0 |
Extended Maturity [Member] | |
Modified, Subsequent Default | 65 |
Contractual Interest Rate Reduction [Member] | |
Modified, Subsequent Default | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Principal Forgiveness [Member] | |
Modified, Subsequent Default | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Payment Deferral [Member] | |
Modified, Subsequent Default | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Extended Maturity [Member] | |
Modified, Subsequent Default | 65 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Contractual Interest Rate Reduction [Member] | |
Modified, Subsequent Default | $ 0 |
Note 5 - Loans and Leases - Pas
Note 5 - Loans and Leases - Past Due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |||
Loans, gross | $ 1,685,098 | [1],[2] | $ 1,564,174 | [3],[4] | |
Loans Past Due and Still Accruing | 14 | 33 | |||
Commercial Portfolio Segment [Member] | |||||
Loans, gross | 247,364 | [1] | 234,478 | [3] | |
Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 152,640 | [2] | 141,122 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 94,724 | [2] | 72,996 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans, gross | 655,787 | [1] | 606,618 | [3] | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 311,565 | [2] | 318,296 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 304,399 | [2] | 284,677 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 39,823 | [2] | 24,005 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | |||||
Loans, gross | 280,401 | [1],[5] | 282,710 | [3],[6] | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 56,640 | [2] | 59,118 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 52,348 | [2] | 52,568 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 10,756 | [2] | 12,929 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 112,595 | [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] | 31,562 | |||
Loans Past Due and Still Accruing | 14 | ||||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 31,562 | 31,477 | [4],[6] | ||
Loans Past Due and Still Accruing | 14 | 17 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 16,500 | [2] | 11,709 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Residential Portfolio Segment [Member] | |||||
Loans, gross | 501,546 | [1] | 440,368 | [3] | |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 36,536 | [2] | 42,232 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | 465,010 | [2] | 398,136 | [4] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | |||||
Loans, gross | 3,325 | 1,152 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 77 | 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 | 85 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 1,875 | 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 | 105 | 239 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 60 | 110 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 86 | 152 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 417 | 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 | 548 | ||||
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] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 30 | 12 | |||
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 | 42 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | |||||
Loans, gross | 1,162 | 686 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 16 | 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 | 65 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 104 | 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 | 150 | 0 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 92 | 151 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 1 | 115 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 48 | 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] | Direct Financing Lease [Member] | |||||
Loans, gross | 0 | ||||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 4 | 7 | |||
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 | 682 | 327 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Loans, gross | [8] | 3,322 | 2,568 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | [8] | 55 | 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] | 252 | 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] | 2,250 | 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] | 70 | 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] | 364 | 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] | 0 | 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] | 39 | 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] | 14 | |||
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] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | [8] | 0 | 0 | ||
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] | 278 | 3 | ||
Financial Asset, Past Due [Member] | |||||
Loans, gross | 7,809 | 4,406 | |||
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 148 | 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 | 402 | 383 | |||
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 4,229 | 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 | 325 | 239 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 516 | 472 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 87 | 278 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 504 | 655 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 562 | ||||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 203 | ||||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 34 | 19 | |||
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 | 1,002 | 330 | |||
Financial Asset, Not Past Due [Member] | |||||
Loans, gross | 1,677,289 | 1,559,768 | |||
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 152,492 | 140,403 | |||
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 94,724 | 72,996 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 311,163 | 317,913 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 300,170 | 283,569 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 39,823 | 24,005 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 56,315 | 58,879 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 51,832 | 52,096 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 10,669 | 12,651 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 112,091 | 114,254 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 31,000 | ||||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 31,274 | ||||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 16,466 | 11,690 | |||
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 36,536 | 42,232 | |||
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | $ 464,008 | $ 397,806 | |||
[1]Includes $4.9 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.9 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 $2.0 million[6]Net of unearned lease revenue of $1.7 million.[7]Net of unearned lease revenue of $2.0 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 | 4,483 |
Interest income recognized | 282 |
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 | 468 |
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 | 1,263 |
Interest income recognized | 104 |
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 | 2,279 |
Interest income recognized | 125 |
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 | 0 |
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 | 153 |
Interest income recognized | 7 |
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 | 162 |
Interest income recognized | 5 |
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 | 158 |
Interest income recognized | 41 |
Cash basis interest income recognized | $ 0 |
Note 5 - Loans and Leases - Cre
Note 5 - Loans and Leases - Credit Risk Profile (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | |||
Financing Receivable, before Allowance for Credit Loss | $ 1,685,098 | [1],[2] | $ 1,564,174 | [3],[4] |
Current period gross write-offs | 874 | 815 | ||
Loans | 1,666,292 | 1,547,025 | ||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 1,666,292 | 1,547,025 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 247,364 | [1] | 234,478 | [3] |
Current period gross write-offs | 320 | 371 | ||
Loans | 234,478 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 234,478 | |||
Commercial Portfolio Segment [Member] | Commercial [Member] | ||||
Current year | 30,328 | |||
Year two | 19,712 | |||
Year three | 23,124 | |||
Year four | 4,868 | |||
Year five | 6,975 | |||
Prior | 12,535 | |||
Revolving loans | 55,098 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 152,640 | [2] | 141,122 | [4] |
Current period gross write-offs, current year | 0 | |||
Current period gross write-offs, year two | 0 | |||
Current period gross write-offs, year three | 300 | |||
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 | 320 | |||
Commercial Portfolio Segment [Member] | Municipal [Member] | ||||
Current year | 27,016 | |||
Year two | 13,933 | |||
Year three | 21,241 | |||
Year four | 13,137 | |||
Year five | 1,445 | |||
Prior | 17,952 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 94,724 | [2] | 72,996 | [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 | 231,614 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 231,614 | |||
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial [Member] | ||||
Current year | 30,328 | |||
Year two | 19,115 | |||
Year three | 22,820 | |||
Year four | 4,848 | |||
Year five | 6,922 | |||
Prior | 12,156 | |||
Revolving loans | 53,758 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 149,947 | |||
Commercial Portfolio Segment [Member] | Pass [Member] | Municipal [Member] | ||||
Current year | 27,016 | |||
Year two | 13,933 | |||
Year three | 21,241 | |||
Year four | 13,137 | |||
Year five | 1,445 | |||
Prior | 17,952 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 94,724 | |||
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||||
Loans | 229 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 229 | |||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial [Member] | ||||
Current year | 0 | |||
Year two | 597 | |||
Year three | 288 | |||
Year four | 0 | |||
Year five | 0 | |||
Prior | 55 | |||
Revolving loans | 30 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 970 | |||
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 | 2,635 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 2,635 | |||
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial [Member] | ||||
Current year | 0 | |||
Year two | 0 | |||
Year three | 16 | |||
Year four | 20 | |||
Year five | 53 | |||
Prior | 324 | |||
Revolving loans | 1,310 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 1,723 | |||
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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 280,401 | [1],[5] | 282,710 | [3],[6] |
Current period gross write-offs | 463 | 377 | ||
Loans | 282,710 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 282,710 | |||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Loans | 282,313 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 282,313 | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 397 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 397 | |||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Current year | 8,581 | |||
Year two | 17,890 | |||
Year three | 9,487 | |||
Year four | 7,988 | |||
Year five | 3,832 | |||
Prior | 8,862 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 56,640 | [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 | 26 | |||
Current period gross write-offs, revolving | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | |||
Current period gross write-offs | 26 | |||
Loans | 59,118 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 59,118 | |||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Performing Financial Instruments [Member] | ||||
Current year | 8,581 | |||
Year two | 17,890 | |||
Year three | 9,487 | |||
Year four | 7,988 | |||
Year five | 3,832 | |||
Prior | 8,792 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 56,570 | |||
Loans | 59,118 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 70 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 70 | |||
Loans | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 41,303 | |||
Revolving loans converted to term | 11,045 | |||
Financing Receivable, before Allowance for Credit Loss | 52,348 | [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 | 52,568 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 40,939 | |||
Revolving loans converted to term | 11,045 | |||
Financing Receivable, before Allowance for Credit Loss | 51,984 | |||
Loans | 52,357 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 364 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 364 | |||
Loans | 211 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 211 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||
Loans | 131,936 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 131,936 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||||
Current year | 3,120 | |||
Year two | 1,957 | |||
Year three | 2,834 | |||
Year four | 1,926 | |||
Year five | 765 | |||
Prior | 154 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 10,756 | [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 | 39,673 | |||
Year two | 42,059 | |||
Year three | 17,317 | |||
Year four | 8,179 | |||
Year five | 3,999 | |||
Prior | 1,368 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 112,595 | [2] | 114,909 | [4] |
Current period gross write-offs, current year | 3 | |||
Current period gross write-offs, year two | 7 | |||
Current period gross write-offs, year three | 105 | |||
Current period gross write-offs, year four | 36 | |||
Current period gross write-offs, year five | 15 | |||
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 | 166 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | ||||
Loans | 131,767 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 131,767 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | Recourse [Member] | ||||
Current year | 3,120 | |||
Year two | 1,957 | |||
Year three | 2,834 | |||
Year four | 1,926 | |||
Year five | 765 | |||
Prior | 154 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 10,756 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | Nonrecourse [Member] | ||||
Current year | 39,673 | |||
Year two | 42,059 | |||
Year three | 17,314 | |||
Year four | 8,162 | |||
Year five | 3,999 | |||
Prior | 1,349 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 112,556 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 169 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | Nonrecourse [Member] | ||||
Current year | 0 | |||
Year two | 0 | |||
Year three | 3 | |||
Year four | 17 | |||
Year five | 0 | |||
Prior | 19 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 39 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||||
Current year | 11,569 | |||
Year two | 10,728 | |||
Year three | 7,522 | |||
Year four | 1,660 | |||
Year five | 83 | |||
Prior | 0 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 31,562 | 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 | 31,477 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 31,477 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Performing Financial Instruments [Member] | ||||
Current year | 11,569 | |||
Year two | 10,728 | |||
Year three | 7,508 | |||
Year four | 1,660 | |||
Year five | 83 | |||
Prior | 0 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 31,548 | |||
Loans | 31,460 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 31,460 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Nonperforming Financial Instruments [Member] | ||||
Current year | 0 | |||
Year two | 0 | |||
Year three | 14 | |||
Year four | 0 | |||
Year five | 0 | |||
Prior | 0 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 14 | |||
Loans | 17 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 17 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||||
Current year | 8,127 | |||
Year two | 3,266 | |||
Year three | 1,963 | |||
Year four | 705 | |||
Year five | 368 | |||
Prior | 762 | |||
Revolving loans | 1,309 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 16,500 | [2] | 11,709 | [4] |
Current period gross write-offs, current year | 125 | |||
Current period gross write-offs, year two | 77 | |||
Current period gross write-offs, year three | 16 | |||
Current period gross write-offs, year four | 7 | |||
Current period gross write-offs, year five | 17 | |||
Current period gross write-offs, prior | 29 | |||
Current period gross write-offs, revolving | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | |||
Current period gross write-offs | 271 | |||
Loans | 7,611 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 7,611 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | Performing Financial Instruments [Member] | ||||
Current year | 8,127 | |||
Year two | 3,266 | |||
Year three | 1,963 | |||
Year four | 705 | |||
Year five | 368 | |||
Prior | 762 | |||
Revolving loans | 1,309 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 16,500 | |||
Loans | 7,611 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 0 | |||
Loans | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 655,787 | [1] | 606,618 | [3] |
Current period gross write-offs | 91 | 67 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||
Current year | 34,103 | |||
Year two | 37,573 | |||
Year three | 73,316 | |||
Year four | 43,125 | |||
Year five | 17,956 | |||
Prior | 98,713 | |||
Revolving loans | 6,779 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 311,565 | [2] | 318,296 | [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 | 316,867 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 316,867 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Current year | 29,429 | |||
Year two | 66,360 | |||
Year three | 48,173 | |||
Year four | 29,937 | |||
Year five | 24,636 | |||
Prior | 95,414 | |||
Revolving loans | 10,450 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 304,399 | [2] | 284,677 | [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 | 59 | |||
Current period gross write-offs, revolving | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | |||
Current period gross write-offs | 59 | |||
Loans | 270,810 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 270,810 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Current year | 15,075 | |||
Year two | 17,358 | |||
Year three | 852 | |||
Year four | 0 | |||
Year five | 0 | |||
Prior | 3,739 | |||
Revolving loans | 2,799 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 39,823 | [2] | 24,005 | [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 | 18,941 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 18,941 | |||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Non-owner Occupied [Member] | ||||
Current year | 34,103 | |||
Year two | 37,508 | |||
Year three | 71,209 | |||
Year four | 42,692 | |||
Year five | 17,390 | |||
Prior | 89,860 | |||
Revolving loans | 6,779 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 299,541 | |||
Loans | 301,386 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 301,386 | |||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied [Member] | ||||
Current year | 29,429 | |||
Year two | 59,132 | |||
Year three | 47,240 | |||
Year four | 29,377 | |||
Year five | 24,636 | |||
Prior | 84,423 | |||
Revolving loans | 9,731 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 283,968 | |||
Loans | 255,921 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 255,921 | |||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||||
Current year | 15,075 | |||
Year two | 17,358 | |||
Year three | 852 | |||
Year four | 0 | |||
Year five | 0 | |||
Prior | 3,739 | |||
Revolving loans | 2,799 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 39,823 | |||
Loans | 18,941 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Year three | 1,044 | |||
Year four | 304 | |||
Year five | 0 | |||
Prior | 1,375 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 2,723 | |||
Loans | 4,227 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 199 | |||
Year three | 554 | |||
Year four | 0 | |||
Year five | 0 | |||
Prior | 0 | |||
Revolving loans | 125 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 878 | |||
Loans | 803 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Non-owner Occupied [Member] | ||||
Current year | 0 | |||
Year two | 65 | |||
Year three | 1,063 | |||
Year four | 129 | |||
Year five | 566 | |||
Prior | 7,478 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 9,301 | |||
Loans | 11,254 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 11,254 | |||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied [Member] | ||||
Current year | ||||
Year two | 7,029 | |||
Year three | 379 | |||
Year four | 560 | |||
Year five | 0 | |||
Prior | 10,991 | |||
Revolving loans | 594 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 19,553 | |||
Loans | 14,086 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 0 | |||
Commercial and Commercial Real Estate Portfolio Segments [Member] | ||||
Loans | 841,096 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 841,096 | |||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Pass [Member] | ||||
Loans | 807,862 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 807,862 | |||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Special Mention [Member] | ||||
Loans | 5,259 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 5,259 | |||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Substandard [Member] | ||||
Loans | 27,975 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 27,975 | |||
Commercial and Commercial Real Estate Portfolio Segments [Member] | Doubtful [Member] | ||||
Loans | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 0 | |||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, before Allowance for Credit Loss | 501,546 | [1] | 440,368 | [3] |
Current period gross write-offs | 0 | 0 | ||
Loans | 440,368 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 440,368 | |||
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Loans | 440,365 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 440,365 | |||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 3 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 3 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||
Current year | 10,733 | |||
Year two | 13,084 | |||
Year three | 9,267 | |||
Year four | 2,675 | |||
Year five | 343 | |||
Prior | 434 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 36,536 | [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 | 42,232 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 42,232 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Performing Financial Instruments [Member] | ||||
Current year | 10,733 | |||
Year two | 13,084 | |||
Year three | 9,267 | |||
Year four | 2,675 | |||
Year five | 343 | |||
Prior | 434 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 36,536 | |||
Loans | 42,232 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 0 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 0 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Current year | 53,604 | |||
Year two | 80,516 | |||
Year three | 137,620 | |||
Year four | 51,710 | |||
Year five | 29,859 | |||
Prior | 111,701 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 465,010 | [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 | 398,136 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 398,136 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||||
Current year | 53,604 | |||
Year two | 80,516 | |||
Year three | 137,620 | |||
Year four | 51,710 | |||
Year five | 29,859 | |||
Prior | 111,423 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | 464,732 | |||
Loans | 398,133 | |||
Loans and leases, net (allowance for credit losses of $18,806 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 | 278 | |||
Revolving loans | 0 | |||
Revolving loans converted to term | 0 | |||
Financing Receivable, before Allowance for Credit Loss | $ 278 | |||
Loans | 3 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 3 | |||
Consumer and Residential Portfolio Segments [Member] | ||||
Loans | 723,078 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 723,078 | |||
Consumer and Residential Portfolio Segments [Member] | Performing Financial Instruments [Member] | ||||
Loans | 722,678 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | 722,678 | |||
Consumer and Residential Portfolio Segments [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans | 400 | |||
Loans and leases, net (allowance for credit losses of $18,806 in 2023; $17,149 in 2022) | $ 400 | |||
[1]Includes $4.9 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.9 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 $2.0 million[6]Net of unearned lease revenue of $1.7 million. |
Note 5 - Loans and Leases - Col
Note 5 - Loans and Leases - Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Notes receivable, gross | $ 1,687,137 | $ 1,565,920 |
Real Estate [Member] | ||
Notes receivable, gross | 3,214 | |
Other Collateral [Member] | ||
Notes receivable, gross | 94 | |
Collateral Pledged [Member] | ||
Notes receivable, gross | 3,308 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Notes receivable, gross | 152,640 | 141,122 |
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 | 55 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 55 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||
Notes receivable, gross | 311,565 | 318,296 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | ||
Notes receivable, gross | 252 | |
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 | 252 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||
Notes receivable, gross | 304,399 | 284,677 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | ||
Notes receivable, gross | 2,250 | |
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 | 2,250 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Notes receivable, gross | 56,640 | 59,118 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 70 | |
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 | 70 | |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Notes receivable, gross | 52,348 | 52,568 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Real Estate [Member] | ||
Notes receivable, gross | 364 | |
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 | 364 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 112,595 | 114,909 |
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] | Nonrecourse [Member] | ||
Notes receivable, gross | 39 | |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Collateral Pledged [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 39 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Notes receivable, gross | 465,010 | $ 398,136 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 278 | |
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 | $ 278 |
Note 5 - Loans and Leases - Cha
Note 5 - Loans and Leases - Change in Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | |||
Beginning balance | $ 17,149 | $ 15,624 | ||
Initial allowance on loans purchased with credit deterioration | 126 | |||
Charge-offs | (874) | (815) | ||
Recoveries | 296 | 240 | ||
Provision for credit losses on loans | 1,491 | 2,100 | ||
Ending balance | 18,806 | 17,149 | ||
Ending balance: individually evaluated | 193 | 161 | ||
Ending balance: collectively evaluated | 18,613 | 16,988 | ||
Financing Receivable, before Allowance for Credit Loss | 1,685,098 | [1],[2] | 1,564,174 | [3],[4] |
Ending balance: individually evaluated | 6,856 | 3,868 | ||
Ending balance: collectively evaluated | 1,678,242 | 1,560,306 | ||
Ending balance: individually evaluated for impairment | 193 | 161 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Beginning balance | 618 | |||
Ending balance | 618 | |||
Commercial Portfolio Segment [Member] | ||||
Beginning balance | 2,924 | 2,204 | ||
Initial allowance on loans purchased with credit deterioration | 0 | |||
Charge-offs | (320) | (371) | ||
Recoveries | 57 | 11 | ||
Provision for credit losses on loans | (1,089) | 1,080 | ||
Ending balance | 1,850 | 2,924 | ||
Ending balance: individually evaluated | 16 | 48 | ||
Ending balance: collectively evaluated | 1,834 | 2,876 | ||
Financing Receivable, before Allowance for Credit Loss | 247,364 | [1] | 234,478 | [3] |
Ending balance: individually evaluated | 84 | 719 | ||
Ending balance: collectively evaluated | 247,280 | 233,759 | ||
Ending balance: individually evaluated for impairment | 16 | 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 | ||
Initial allowance on loans purchased with credit deterioration | 126 | |||
Charge-offs | (91) | (67) | ||
Recoveries | 44 | 153 | ||
Provision for credit losses on loans | 838 | (346) | ||
Ending balance | 8,835 | 7,162 | ||
Ending balance: individually evaluated | 165 | 112 | ||
Ending balance: collectively evaluated | 8,670 | 7,050 | ||
Financing Receivable, before Allowance for Credit Loss | 655,787 | [1] | 606,618 | [3] |
Ending balance: individually evaluated | 5,686 | 2,782 | ||
Ending balance: collectively evaluated | 650,101 | 603,836 | ||
Ending balance: individually evaluated for impairment | 165 | 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 | ||
Initial allowance on loans purchased with credit deterioration | 0 | |||
Charge-offs | (463) | (377) | ||
Recoveries | 165 | 74 | ||
Provision for credit losses on loans | 409 | 726 | ||
Ending balance | 2,391 | 2,827 | ||
Ending balance: individually evaluated | 11 | 1 | ||
Ending balance: collectively evaluated | 2,380 | 2,826 | ||
Financing Receivable, before Allowance for Credit Loss | 280,401 | [1],[5] | 282,710 | [3],[6] |
Ending balance: individually evaluated | 473 | 364 | ||
Ending balance: collectively evaluated | 279,928 | 282,346 | ||
Ending balance: individually evaluated for impairment | 11 | 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 | ||
Initial allowance on loans purchased with credit deterioration | 0 | |||
Charge-offs | 0 | 0 | ||
Recoveries | 30 | 2 | ||
Provision for credit losses on loans | 1,297 | 659 | ||
Ending balance | 5,694 | 4,169 | ||
Ending balance: individually evaluated | 1 | 0 | ||
Ending balance: collectively evaluated | 5,693 | 4,169 | ||
Financing Receivable, before Allowance for Credit Loss | 501,546 | [1] | 440,368 | [3] |
Ending balance: individually evaluated | 613 | 3 | ||
Ending balance: collectively evaluated | 500,933 | 440,365 | ||
Ending balance: individually evaluated for impairment | 1 | 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 | ||
Initial allowance on loans purchased with credit deterioration | 0 | |||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for credit losses on loans | 36 | (19) | ||
Ending balance | 36 | 67 | ||
Ending balance: individually evaluated | 0 | 0 | ||
Ending balance: collectively evaluated | 36 | 67 | ||
Financing Receivable, before Allowance for Credit Loss | 0 | [1] | 0 | [3] |
Ending balance: individually evaluated | 0 | 0 | ||
Ending balance: collectively evaluated | 0 | 0 | ||
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 $4.9 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.9 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 $2.0 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 | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning balance | $ 49 | $ 62 |
Provision (benefit) for credit losses | (165) | (13) |
Ending balance | 944 | 49 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | $ 1,060 | 0 |
Ending balance | $ 1,060 |
Note 5 - Loans and Leases - Und
Note 5 - Loans and Leases - Undiscounted Cash Flows for Direct Finance Leases (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
2024 | $ 13,652 |
2025 | 12,261 |
2026 | 5,910 |
2027 | 1,330 |
2028 | 59 |
2029 and thereafter | 0 |
Total future minimum lease payments receivable | 33,212 |
Less: Unearned income | (2,039) |
Undiscounted cash flows to be received | $ 31,173 |
Note 6 - Bank Premises and Eq_3
Note 6 - Bank Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation | $ 2.5 | $ 2.3 | $ 2.2 |
Building [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 40 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Note 6 - Bank Premises and Eq_4
Note 6 - Bank Premises and Equipment - Components of Bank Premises and Equipments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property Plant And Equipment Gross | $ 56,838 | $ 53,338 |
Less accumulated depreciation and amortization | (22,606) | (22,031) |
Bank premises and equipment, net | 34,232 | 31,307 |
Land [Member] | ||
Property Plant And Equipment Gross | 3,226 | 3,421 |
Building [Member] | ||
Property Plant And Equipment Gross | 18,328 | 19,105 |
Furniture and Fixtures [Member] | ||
Property Plant And Equipment Gross | 15,821 | 15,919 |
Leasehold Improvements [Member] | ||
Property Plant And Equipment Gross | 10,651 | 10,659 |
Construction in Progress [Member] | ||
Property Plant And Equipment Gross | $ 8,812 | $ 4,234 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Time Deposits, at or Above FDIC Insurance Limit | $ 72.6 | $ 21.1 |
Overdraft Deposits Reclassified as Loan Balances | 0.5 | $ 0.3 |
Investments, Fair Value Disclosure | 344 | |
Asset Pledged as Collateral [Member] | Deposits and Trust Funds [Member] | ||
Investments, Fair Value Disclosure | 224.2 | |
Asset Pledged as Collateral [Member] | Deposits [Member] | ||
Deposit Liabilities, Collateral Issued, Financial Instruments | 321.7 | |
Asset Pledged as Collateral [Member] | Other Pledging Needs [Member] | ||
Investments, Fair Value Disclosure | $ 236.6 |
Note 7 - Deposits - Maturities
Note 7 - Deposits - Maturities of Certificates of Deposits (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
2024, amount | $ 164,919 |
2024, percentage | 77.40% |
2025, amount | $ 41,520 |
2025, percentage | 19.50% |
2026, amount | $ 3,316 |
2026, percentage | 1.60% |
2027, amount | $ 1,590 |
2027, percentage | 0.70% |
2028, amount | $ 1,187 |
2028, percentage | 0.60% |
2028 and thereafter, amount | $ 434 |
2028 and thereafter, percentage | 0.20% |
Total, amount | $ 212,966 |
Total, percentage | 100% |
Note 8 - Short-term Borrowing_2
Note 8 - Short-term Borrowings (Details Textual) $ in Millions | Dec. 31, 2023 USD ($) |
Federal Home Loan Bank Advances [Member] | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 656.8 |
Correspondent Banks [Member] | |
Line of Credit Facility, Remaining Borrowing Capacity | 20 |
Federal Reserve Bank Discount Window [Member] | |
Line of Credit Facility, Remaining Borrowing Capacity | 70.4 |
Collateral for Federal Reserve Bank Term Funding Program [Member] | Asset Pledged as Collateral [Member] | |
Marketable Securities | $ 59.7 |
Note 8 - Short-term Borrowing_3
Note 8 - Short-term Borrowings - Components of Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Short-term borrowings | $ 117,000 | $ 12,940 |
Maximum outstanding at any month end | 149,010 | 12,940 |
Average Outstanding Amount | 49,860 | 1,031 |
Overnight Borrowings [Member] | ||
Short-term borrowings | 60,000 | 12,930 |
Maximum outstanding at any month end | 92,000 | 12,930 |
Average Outstanding Amount | $ 22,148 | $ 1,025 |
Weighted Average Interest Rate | 5.08% | 4.39% |
Interest Rate At Year End | 5.50% | 4.45% |
Other Short-term Borrowings [Member] | ||
Short-term borrowings | $ 57,000 | $ 10 |
Maximum outstanding at any month end | 10 | 10 |
Average Outstanding Amount | 5 | $ 6 |
Weighted Average Interest Rate | 0% | |
Federal Reserve Bank Term Funding Program [Member] | ||
Maximum outstanding at any month end | 57,000 | |
Average Outstanding Amount | $ 27,707 | |
Weighted Average Interest Rate | 4.49% | |
Interest Rate At Year End | 4.59% |
Note 9 - FHLB Advances and Ot_3
Note 9 - FHLB Advances and Other Borrowings (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Advance from Federal Home Loan Bank | $ 0 | $ 0 |
Secured Debt [Member] | ||
Long-Term Debt, Fair Value | 7,400 | 7,600 |
Long-Term Debt, Purchase Accounting Adjustment, Fair Value | $ 47,000 | $ 53 |
Note 9 - FHLB Advances and Ot_4
Note 9 - FHLB Advances and Other Borrowings - Maturity and Weighted-average Interest Rate of Borrowings (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
2028, amount | $ 0 |
2028, weighted average interest rate | 0% |
Secured Debt [Member] | |
2024, amount | $ 858 |
2024, weighted average interest rate | 8.51% |
2025, amount | $ 0 |
2025, weighted average interest rate | 0% |
2026, amount | $ 0 |
2026, weighted average interest rate | 0% |
2027, amount | $ 0 |
2027, weighted average interest rate | 0% |
2028 and thereafter, amount | $ 6,467 |
2028 and thereafter, weighted average interest rate | 6.40% |
Total, amount | $ 7,325 |
Total, weighted average interest rate | 6.65% |
Note 10 - Stock Plans (Details
Note 10 - Stock Plans (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | 24 Months Ended | ||||
Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2015 | Dec. 31, 2023 | Jun. 30, 2022 | |
Common Stock, No Par Value (in dollars per share) | $ 0 | $ 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) | 22,807 | 3,608 | 2,932 | 3,608 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Exercised | $ 99,072 | $ 10,190 | $ 15,140 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-option, Exercises in Period, Realized Tax Deduction | 495,300 | 125,810 | 56,424 | ||||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 104,013 | 26,420 | $ 11,849 | ||||
The 2022 Stock Incentive Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 500,000 | 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 | ||||||
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 | ||||||
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | New Employee [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 1,000 | ||||||
The 2002 Employee Stock Purchase Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 165,000 | 165,000 | |||||
Shares, Issued (in shares) | 101,827 | 101,827 | |||||
The 2002 Employee Stock Purchase Plan [Member] | Restricted Stock and Stock-settled Stock Appreciation Rights [Member] | |||||||
Share-Based Payment Arrangement, Reversal of Accruals | $ 10,000 | ||||||
Dividend Reinvestment Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 750,000 | 750,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 591,730 | 591,730 |
Note 10 - Stock Plans - Summary
Note 10 - Stock Plans - Summary of Weighted Average Fair Value and Vesting of Restricted Stock Grants (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | |||
Granted, awards (in shares) | 36,734 | 34,570 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 49.28 | $ 49.83 | ||
The 2012 Director Stock Incentive Plan [Member] | ||||
Granted, awards (in shares) | 0 | [1] | 18,000 | |
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] |
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 | 50 | [2] | |
Granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | $ 35.91 | ||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Three [Member] | ||||
Granted, awards (in shares) | 50 | 0 | [3] | |
Granted, weighted average grant date fair value (in dollars per share) | $ 49.43 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Four [Member] | ||||
Granted, awards (in shares) | 1,000 | 0 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 44.06 | |||
[1]Vest after 3 years – 33% each year[2]Vest fully after 3 years[3]Vest after 1 year |
Note 10 - Stock Plans - Non-ves
Note 10 - Stock Plans - Non-vested Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Non-vested balance (in shares) | 62,486 | 43,043 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 51.46 | $ 53.2 |
Granted (in shares) | 36,734 | 34,570 |
Granted, weighted average grant date fair value (in dollars per share) | $ 49.28 | $ 49.83 |
Forfeited (in shares) | (1,020) | (3,428) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 50.06 | $ 52.13 |
Vested (in shares) | (24,481) | (11,699) |
Vested, weighted average grant date fair value (in dollars per share) | $ 52.57 | $ 52.83 |
Non-vested balance (in shares) | 73,719 | 62,486 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 50.03 | $ 51.46 |
The 2012 Director Stock Incentive Plan [Member] | ||
Non-vested balance (in shares) | 23,872 | 14,920 |
Granted (in shares) | 0 | 18,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 49.85 |
Forfeited (in shares) | 0 | 0 |
Vested (in shares) | (11,353) | (9,048) |
Non-vested balance (in shares) | 12,519 | 23,872 |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Non-vested balance (in shares) | 38,614 | 28,123 |
Granted (in shares) | 36,734 | 16,570 |
Forfeited (in shares) | (1,020) | (3,428) |
Vested (in shares) | (13,128) | (2,651) |
Non-vested balance (in shares) | 61,200 | 38,614 |
Note 10 - Stock Plans - Summa_2
Note 10 - Stock Plans - Summary of SSARs (Details) - Stock Settled Stock Appreciation Rights SSARs [Member] - $ / shares | 12 Months Ended | 24 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2023 | |
Outstanding, awards (in shares) | 87,133 | 94,332 | 94,332 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 9.69 | $ 9.66 | $ 9.66 | |
Outstanding, weighted average remaining contractual term (Year) | 3 years 9 months 18 days | 4 years 6 months | 5 years 6 months | |
Granted, awards (in shares) | 0 | 0 | ||
Granted, weighted average grant date fair value (in dollars per share) | ||||
Exercised, awards (in shares) | (22,807) | (3,608) | (2,932) | (3,608) |
Exercised, weighted average grant date fair value (in dollars per share) | $ 4.34 | $ 4.2 | ||
Forfeited, awards (in shares) | 0 | (3,591) | ||
Forfeited, weighted average grant date fair value (in dollars per share) | $ 14.41 | |||
Outstanding, awards (in shares) | 64,326 | 87,133 | 94,332 | 64,326 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 11.59 | $ 9.69 | $ 9.66 | $ 11.59 |
Note 10 - Stock Plans - Stock-b
Note 10 - Stock Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Stock-based compensation expense | $ 1,648 | $ 1,271 |
The 2012 Director Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 484 | 623 |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 479 | 615 |
The 2022 Omnibus Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 651 | 1 |
The 2002 Employee Stock Purchase Plan [Member] | ||
Stock-based compensation expense | $ 34 | $ 32 |
Note 10 - Stock Plans - Unrecog
Note 10 - Stock Plans - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
Unrecognized stock-based compensation expense | $ 1,729 |
The 2012 Director Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | 289 |
The 2012 Omnibus Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | 306 |
The 2022 Omnibus Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | $ 1,134 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 0 |
Income Tax Examination, Penalties and Interest Expense, Total | $ 0 |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Allowance for credit losses on loans | $ 3,949 | $ 3,601 |
Net unrealized losses on available-for-sale securities | 15,010 | 18,914 |
Deferred interest from non-accrual assets | 187 | 226 |
Operating lease liabilities | 1,795 | 1,965 |
Acquisition accounting | 1,029 | 1,475 |
Other | 1,797 | 1,241 |
Total | 23,767 | 27,422 |
Loan fees and costs | (1,945) | (1,825) |
Automobile leasing | (6,044) | (6,635) |
Operating lease right-of-use assets | (1,632) | (1,815) |
Depreciation | (1,451) | (1,458) |
Mortgage loan servicing rights | (306) | (341) |
Total | (11,378) | (12,074) |
Deferred tax asset, net | $ 12,389 | $ 15,348 |
Note 11 - Income Taxes - Provis
Note 11 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Current | $ 2,991 | $ 3,612 |
Deferred | (945) | 1,835 |
Total provision for income taxes | $ 2,046 | $ 5,447 |
Note 11 - Income Taxes - Reconc
Note 11 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Expected provision at the statutory rate of 21% | $ 4,254 | $ 7,437 |
Tax-exempt income | (2,251) | (2,163) |
Bank owned life insurance | (276) | (242) |
Nondeductible interest expense | 883 | 175 |
Tax credits | (635) | (120) |
State income tax | 31 | 54 |
Other, net | 40 | 306 |
Total provision for income taxes | $ 2,046 | $ 5,447 |
Note 12 - Retirement Plan (Deta
Note 12 - Retirement Plan (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Defined Contribution Plan, Cost | $ 1 | $ 1 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 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 | (31.47) | (0.1961) |
Measurement Input, Cost to Sell [Member] | Maximum [Member] | ||
Impaired Loans, Measurement Input | (31.47) | (0.2958) |
Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | ||
Impaired Loans, Measurement Input | 31.47 | (0.2177) |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Other Real Estate Owned, Measurement Input | (0.776) | (0.3907) |
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Other Real Estate Owned, Measurement Input | (0.776) | (0.776) |
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | ||
Other Real Estate Owned, Measurement Input | (0.776) | (0.3961) |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Total available-for-sale debt securities, fair value | $ 344,040 | $ 420,862 |
Loans held-for-sale | 1,483 | 1,660 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 111,949 | 29,091 |
Held-to-maturity securities | 224,233 | 222,744 |
Total available-for-sale debt securities, fair value | 344,040 | 420,862 |
Restricted investments in bank stock | 3,905 | 5,268 |
Loans and leases, net | 1,666,292 | 1,547,025 |
Loans held-for-sale | 1,457 | 1,637 |
Accrued interest receivable | 9,092 | 8,487 |
Interest rate swaps | 171 | 213 |
Short-term borrowings | 117,000 | 12,940 |
Secured borrowings | 7,372 | 7,619 |
Accrued interest payable | 3,042 | 448 |
Interest rate swaps | 2,332 | 213 |
Reported Value Measurement [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,945,456 | 2,049,689 |
Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 212,969 | 117,224 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 111,949 | 29,091 |
Held-to-maturity securities | 197,176 | 187,280 |
Total available-for-sale debt securities, fair value | 344,040 | 420,862 |
Restricted investments in bank stock | 3,905 | 5,268 |
Loans and leases, net | 1,532,195 | 1,440,151 |
Loans held-for-sale | 1,483 | 1,660 |
Accrued interest receivable | 9,092 | 8,487 |
Interest rate swaps | 171 | 213 |
Short-term borrowings | 117,010 | 12,940 |
Secured borrowings | 8,067 | 7,275 |
Accrued interest payable | 3,042 | 448 |
Interest rate swaps | 2,332 | 213 |
Estimate of Fair Value Measurement [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,945,456 | 2,049,689 |
Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 210,423 | 113,252 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 111,949 | 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 | 197,176 | 187,280 |
Total available-for-sale debt securities, fair value | 344,040 | 420,862 |
Restricted investments in bank stock | 3,905 | 5,268 |
Loans and leases, net | 0 | 0 |
Loans held-for-sale | 1,483 | 1,660 |
Accrued interest receivable | 9,092 | 8,487 |
Interest rate swaps | 171 | 213 |
Short-term borrowings | 117,010 | 12,940 |
Secured borrowings | 0 | 0 |
Accrued interest payable | 3,042 | 448 |
Interest rate swaps | 2,332 | 213 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,945,456 | 2,049,689 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member] | ||
Deposits | 210,423 | 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 | 1,532,195 | 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 | 8,067 | 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 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Available-for-sale securities | $ 344,040 | $ 420,862 |
Fair Value, Recurring [Member] | ||
Available-for-sale securities | 344,040 | 420,862 |
Total assets | 344,211 | 421,075 |
Total liabilities | 2,332 | 213 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 171 | 213 |
Interest rate swaps | 2,332 | 213 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | 0 | 0 |
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 0 | 0 |
Interest rate swaps | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 344,040 | 420,862 |
Total assets | 344,211 | 421,075 |
Total liabilities | 2,332 | 213 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 171 | 213 |
Interest rate swaps | 2,332 | 213 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | 0 | 0 |
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 0 | 0 |
Interest rate swaps | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 27,545 | 31,533 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 27,545 | 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 | 27,545 | 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 | 122,797 | 171,894 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 122,797 | 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 | 122,797 | 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 | 193,698 | 217,435 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 193,698 | 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 | 193,698 | 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 13 - Fair Value Measurem_6
Note 13 - Fair Value Measurements - Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Total assets | $ 121 | $ 1,683 |
Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 121 | 1,683 |
Impaired Loans [Member] | ||
Total assets | 1,515 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 1,515 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | ||
Total assets | 120 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 0 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 0 | |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 120 | |
Other Real Estate Owned [Member] | ||
Total assets | 1 | 168 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | $ 1 | $ 168 |
Note 13 - Fair Value Measurem_7
Note 13 - Fair Value Measurements - Off-balance Sheet Risks (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Commitments to Extend Credit [Member] | ||
Off-balance Sheet Risks, Amount, Liability | $ 357,124 | $ 390,644 |
Standby Letters of Credit [Member] | ||
Off-balance Sheet Risks, Amount, Liability | $ 17,294 | $ 16,634 |
Note 13 - Fair Value Measurem_8
Note 13 - Fair Value Measurements - Summary of Supply Commitment (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
Supply Commitment, Remaining Minimum Amount Committed | $ 17,294 |
Less Than One Year [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 15,437 |
More Than One Year to Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 371 |
Over Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 1,486 |
Secured By Collateral [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 11,132 |
Secured By Collateral [Member] | Less Than One Year [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 9,581 |
Secured By Collateral [Member] | More Than One Year to Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 65 |
Secured By Collateral [Member] | Over Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 1,486 |
Secured By Bank Lines of Credit [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 3,881 |
Secured By Bank Lines of Credit [Member] | Less Than One Year [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 3,575 |
Secured By Bank Lines of Credit [Member] | More Than One Year to Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 306 |
Secured By Bank Lines of Credit [Member] | Over Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 0 |
Secured by Other [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 1,624 |
Secured by Other [Member] | Less Than One Year [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 1,624 |
Secured by Other [Member] | More Than One Year to Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 0 |
Secured by Other [Member] | Over Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 0 |
Secured Debt [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 16,637 |
Secured Debt [Member] | Less Than One Year [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 14,780 |
Secured Debt [Member] | More Than One Year to Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 371 |
Secured Debt [Member] | Over Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 1,486 |
Unsecured Debt [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 657 |
Unsecured Debt [Member] | Less Than One Year [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 657 |
Unsecured Debt [Member] | More Than One Year to Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | 0 |
Unsecured Debt [Member] | Over Five Years [Member] | |
Supply Commitment, Remaining Minimum Amount Committed | $ 0 |
Note 14 - Earnings Per Share (D
Note 14 - Earnings Per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 39,991 | 34,540 |
Stock Settled Stock Appreciation Rights SSARs [Member] | ||
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 14,863 | 19,675 |
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) | 25,128 | 14,865 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 460 |
Note 14 - Earnings Per Share -
Note 14 - Earnings Per Share - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net income available to common shareholders | $ 18,210 | $ 30,021 |
Weighted-average common shares outstanding (in shares) | 5,676,711 | 5,644,599 |
Basic EPS (in dollars per share) | $ 3.21 | $ 5.32 |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 39,991 | 34,540 |
Weighted-average common and potentially dilutive shares outstanding (in shares) | 5,716,702 | 5,679,139 |
Diluted EPS (in dollars per share) | $ 3.19 | $ 5.29 |
Note 15 - Regulatory Matters (D
Note 15 - Regulatory Matters (Details Textual) $ in Millions | Dec. 31, 2023 USD ($) |
Banking Regulation, Total Risk-Based Capital Ratio, Excess, Actual | 0.08 |
Excess Tier One Common Equity to Risk Weighted Assets | 4.50% |
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Actual | 0.06 |
Banking Regulation, Excess Tier 1 Leverage Capital Ratio, Actual | 0.04 |
Capital Conversion Buffer | 2.50% |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 147.3 |
Maximum [Member] | |
Capital Conversion Buffer | 2.50% |
Note 15 - Regulatory Matters -
Note 15 - Regulatory Matters - Compliance With Regulatory Capital Requirements Under Banking Regulations (Details) $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Tier 1 common equity (to risk-weighted assets) Actual, Ratio | 4.50% | |
Tier 1 capital (to risk-weighted assets) | 0.06 | |
Bank [Member] | ||
Capital | $ 244,562 | $ 229,803 |
Capital to Risk Weighted Assets | 0.146 | 0.143 |
Capital Required for Capital Adequacy | $ 134,238 | $ 128,308 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.08 | 0.08 |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 176,187 | $ 168,405 |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 10.50% | 10.50% |
Well Capitalized | $ 167,797 | $ 160,385 |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 0.10 | 0.10 |
Tier 1 common equity (to risk-weighted assets) Actual, Amount | $ 223,576 | $ 212,605 |
Tier 1 common equity (to risk-weighted assets) Actual, Ratio | 13.30% | 13.30% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Amount | $ 75,509 | $ 72,173 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.50% | 4.50% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 117,458 | $ 112,270 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 7% | 7% |
Tier 1 common equity (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | $ 109,068 | $ 104,251 |
Tier 1 common equity (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 6.50% | 6.50% |
Tier 1 capital (to risk-weighted assets), Actual, Amount | $ 223,576 | $ 212,605 |
Tier 1 capital (to risk-weighted assets) | 0.133 | 0.133 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 100,678 | $ 96,231 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 0.06 | 0.06 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 142,628 | $ 136,328 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 8.50% | 8.50% |
Tier 1 capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | $ 134,268 | $ 128,308 |
Tier 1 capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 0.08 | 0.08 |
Tier 1 capital (to average assets), Actual, Amount | $ 223,576 | $ 212,605 |
Tier 1 capital (to average assets), Actual, Ratio | 0.091 | 0.087 |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 98,457 | $ 97,951 |
Tier 1 capital (to average assets), For capital adequacy purposes, Ratio | 0.04 | 0.04 |
Tier 1 capital (to average assets), For capital adequacy purposeswith capital conversion buffer, amount | $ 98,457 | $ 97,951 |
Tier 1 capital (to average assets), For capital adequacy purposes with capital conversion buffer, Ratio | 4% | 4% |
Tier 1 capital (to average assets), To be well capitalized under prompt corrective action provisions, Amount | $ 123,071 | $ 122,439 |
Tier 1 capital (to average assets), To be well capitalized under prompt corrective action provisions, Ratio | 0.05 | 0.05 |
Parent Company [Member] | ||
Capital | $ 246,120 | $ 230,133 |
Capital to Risk Weighted Assets | 0.147 | 0.144 |
Capital Required for Capital Adequacy | $ 134,255 | $ 128,325 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.08 | 0.08 |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 176,209 | $ 168,427 |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 10.50% | 10.50% |
Tier 1 common equity (to risk-weighted assets) Actual, Amount | $ 225,135 | $ 212,935 |
Tier 1 common equity (to risk-weighted assets) Actual, Ratio | 13.40% | 13.30% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Amount | $ 75,518 | $ 72,183 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.50% | 4.50% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 117,473 | $ 112,285 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 7% | 7% |
Tier 1 capital (to risk-weighted assets), Actual, Amount | $ 225,135 | $ 212,935 |
Tier 1 capital (to risk-weighted assets) | 0.134 | 0.133 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 100,691 | $ 96,244 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 0.06 | 0.06 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 142,646 | $ 136,346 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 8.50% | 8.50% |
Tier 1 capital (to average assets), Actual, Amount | $ 225,135 | $ 212,935 |
Tier 1 capital (to average assets), Actual, Ratio | 0.092 | 0.087 |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 98,465 | $ 97,960 |
Tier 1 capital (to average assets), For capital adequacy purposes, Ratio | 0.04 | 0.04 |
Tier 1 capital (to average assets), For capital adequacy purposeswith capital conversion buffer, amount | $ 98,465 | $ 97,960 |
Tier 1 capital (to average assets), For capital adequacy purposes with capital conversion buffer, Ratio | 4% | 4% |
Note 16 - Related Party Trans_3
Note 16 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Minimum Percentage Interest Shareholders Must Have to Obtain Loan | 5% | |
Related Party Deposit Liabilities | $ 27.7 | $ 24.8 |
Note 16 - Related Party Trans_4
Note 16 - Related Party Transactions - Schedule of Related Party Transactions (Details) - Stock Owned by Officers Directors Associates and Such Persons and Shareholders Who Own More Than 5 of Shares Outstanding [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance, beginning | $ 10,644 | $ 11,505 |
Adjustments for changes in position | (927) | (75) |
Additions | 2,558 | 1,608 |
Collections | (1,977) | (2,394) |
Balance, ending | $ 10,298 | $ 10,644 |
Note 17 - Contingencies (Detail
Note 17 - Contingencies (Details Textual) Pure in Thousands | Dec. 31, 2023 |
Loss Contingency, Pending Claims, Number | 0 |
Note 18 - Recent Accounting P_2
Note 18 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Retained Earnings (Accumulated Deficit) | $ 128,251 | $ 119,754 | ||||
Financing Receivable, Allowance for Credit Loss | 18,806 | 17,149 | $ 15,624 | |||
Off-Balance-Sheet, Credit Loss, Liability | 944 | 49 | 62 | |||
Financing Receivable, before Allowance for Credit Loss | $ 1,685,098 | [1],[2] | 1,564,174 | [3],[4] | ||
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 $4.9 million of net deferred loan costs.[2]Includes net deferred loan costs of $4.9 million.[3]Includes $4.6 million of net deferred loan costs.[4]Includes net deferred loan costs of $4.6 million. |
Note 19 - Parent Company Only -
Note 19 - Parent Company Only - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Cash and due from banks | $ 28,949 | $ 3,542 |
Other assets | 23,630 | 26,849 |
Total assets | 2,503,159 | 2,378,372 |
Liabilities | 2,313,680 | 2,215,422 |
Accumulated other comprehensive loss | (56,467) | (71,152) |
Total liabilities and shareholders' equity | 2,503,159 | 2,378,372 |
Parent Company [Member] | ||
Cash and due from banks | 1,992 | 634 |
Investment in subsidiary | 187,921 | 162,620 |
Other assets | 213 | 214 |
Total assets | 190,126 | 163,468 |
Liabilities | 646 | 518 |
Capital stock and retained earnings | 245,947 | 235,365 |
Treasury stock | 0 | (1,263) |
Accumulated other comprehensive loss | (56,467) | (71,152) |
Total liabilities and shareholders' equity | $ 190,126 | $ 163,468 |
Note 19 - Parent Company Only_2
Note 19 - Parent Company Only - Condensed Income Statements (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income before income taxes | $ 20,256 | $ 35,468 |
Credit for income taxes | (2,046) | (5,447) |
Net income | 18,210 | 30,021 |
Parent Company [Member] | ||
Equity in undistributed earnings of subsidiary | 11,941 | 24,128 |
Dividends from subsidiary | 8,387 | 7,709 |
Total income | 20,328 | 31,837 |
Operating expenses | 2,793 | 2,295 |
Income before income taxes | 17,535 | 29,542 |
Credit for income taxes | 675 | 479 |
Net income | $ 18,210 | $ 30,021 |
Note 19 - Parent Company Only_3
Note 19 - Parent Company Only - Statements of Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net income | $ 18,210 | $ 30,021 |
Other comprehensive income (loss), net of tax | 14,685 | (71,331) |
Total comprehensive income (loss), net of tax | 32,895 | (41,310) |
Parent Company [Member] | ||
Bancorp net loss | (2,118) | (1,816) |
Equity in net income of subsidiary | 20,328 | 31,837 |
Net income | 18,210 | 30,021 |
Equity in other comprehensive income (loss) of subsidiary | 14,685 | (71,331) |
Other comprehensive income (loss), net of tax | 14,685 | (71,331) |
Total comprehensive income (loss), net of tax | $ 32,895 | $ (41,310) |
Note 19 - Parent Company Only_4
Note 19 - Parent Company Only - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net income | $ 18,210 | $ 30,021 |
Stock-based compensation expense | 1,648 | 1,271 |
Deferred | (945) | 1,835 |
Net cash provided by operating activities | 29,692 | 49,427 |
Purchases of bank premises and equipment | (6,954) | (5,514) |
Net cash used in investing activities | (35,275) | (115,388) |
Proceeds from employee stock purchase plan participants | 302 | 252 |
Repurchase of shares to cover withholdings | (239) | (20) |
Net cash provided by (used in) financing activities | 88,441 | (1,825) |
Net increase (decrease) in cash and cash equivalents | 82,858 | (67,786) |
Cash and cash equivalents, beginning | 29,091 | 96,877 |
Cash and cash equivalents, ending | 111,949 | 29,091 |
Parent Company [Member] | ||
Net income | 18,210 | 30,021 |
Equity in earnings of subsidiary | (20,328) | (31,837) |
Stock-based compensation expense | 1,648 | 1,271 |
Deferred | 10 | (25) |
Changes in other assets and liabilities, net | 114 | (232) |
Net cash provided by operating activities | (346) | (802) |
Dividends received from subsidiary | 8,387 | 7,709 |
Operating dividend from subsidiary | 0 | 700 |
Purchases of bank premises and equipment | 4 | (11) |
Net cash used in investing activities | 8,391 | 8,398 |
Dividends paid, net of dividend reinvestment | (6,750) | (7,709) |
Proceeds from employee stock purchase plan participants | 302 | 252 |
Repurchase of shares to cover withholdings | (239) | (20) |
Net cash provided by (used in) financing activities | (6,687) | (7,477) |
Net increase (decrease) in cash and cash equivalents | 1,358 | 119 |
Cash and cash equivalents, beginning | 634 | 515 |
Cash and cash equivalents, ending | $ 1,992 | $ 634 |
Note 20 - Employee Benefits (De
Note 20 - Employee Benefits (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jul. 01, 2021 | Mar. 20, 2019 | Mar. 29, 2017 | |
Cash Surrender Value of Life Insurance | $ 54,600 | $ 54,000 | ||||
Proceeds from Life Insurance Policy | $ 900 | 931 | 0 | |||
Return of Cash Surrender Value of Life Insurance | 800 | |||||
Gain From Bank-owned Life Insurance Claim | $ 100 | 142 | 0 | |||
Bank Owned Life Insurance Income | 1,325 | 1,290 | ||||
Supplemental Employee Retirement Plan [Member] | ||||||
Defined Benefit Plan, Number of Individuals | 1 | 5 | ||||
Defined Benefit Plan, Benefit Obligation | 4,400 | 4,000 | ||||
Supplemental Employee Retirement Plan [Member] | Landmark Bancorp Inc. [Member] | ||||||
Defined Benefit Plan, Number of Individuals | 1 | |||||
Officer [Member] | ||||||
Split Dollar Life Insurance Arrangement, Death Benefit | 54,600 | |||||
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 | $ 45,800 | |||||
Executive Officer [Member] | ||||||
Number of Individuals with Split Dollar Life Insurance Arrangement | 4 | |||||
Split Dollar Life Insurance Arrangement, Accrued Expense | $ 352 | $ 269 |
Note 21 - Revenue Recognition (
Note 21 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 | $ 0 |
Note 22 - Leases (Details Textu
Note 22 - Leases (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Number of Properties Leased under Operating Lease | 10 | |
Lease, Cost | $ 1,134 | $ 1,191 |
Lessor, Number of Properties Under Long-Term Operating Leases | 1 | |
Premises and Equipment Expense [Member] | ||
Lease, Cost | $ 1,100 | 1,200 |
Other Expense [Member] | ||
Lease, Cost | $ 23 | $ 31 |
Administrative Office [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 22 - Leases - Analysis of
Note 22 - Leases - Analysis of Leased Property Under Finance Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property and equipment | $ 2,014 | $ 1,695 |
Less accumulated depreciation and amortization | (841) | (606) |
Leased property under finance leases, net | $ 1,173 | $ 1,089 |
Note 22 - Leases - Schedule of
Note 22 - Leases - Schedule of Future Minimum Lease Payments Under Finance Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
2024 | $ 243 | ||
2025 | 233 | ||
2026 | 222 | ||
2027 | 222 | ||
2028 | 199 | ||
2029 and thereafter | 162 | ||
Total minimum lease payments (a) | [1] | 1,281 | |
Less amount representing interest (b) | [2] | (80) | |
Present value of net minimum lease payments | $ 1,201 | $ 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 22 - Leases - Lease Cost (
Note 22 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Amortization of right-of-use assets | $ 235 | $ 240 |
Interest on lease liabilities | 21 | 21 |
Operating lease cost | 740 | 746 |
Short-term lease cost | 84 | 149 |
Variable lease cost | 54 | 35 |
Total lease cost | 1,134 | 1,191 |
Operating cash flows from finance leases | 21 | 21 |
Operating cash flows from operating leases (Fixed payments) | 701 | 646 |
Operating cash flows from operating leases (Liability reduction) | 408 | 389 |
Financing cash flows from finance leases | 229 | 232 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 319 | 119 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 0 | $ 22 |
Weighted-average remaining lease term - finance leases (in years) (Year) | 5 years 7 months 6 days | 6 years 6 months 7 days |
Weighted average remaining lease term - operating leases (in years) (Year) | 20 years 5 months 8 days | 20 years 7 months 13 days |
Weighted-average discount rate - finance leases | 2.52% | 1.72% |
Weighted-average discount rate - operating leases | 3.57% | 3.39% |
Note 22 - Leases - Future Minim
Note 22 - Leases - Future Minimum Payments for Operating Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
2024 | $ 631 | |
2025 | 588 | |
2026 | 595 | |
2027 | 604 | |
2028 | 611 | |
2029 and thereafter | 9,273 | |
Total future minimum lease payments | 12,302 | |
Less variable payment adjustment | (178) | |
Less amount representing interest | (3,575) | |
Present value of net future minimum lease payments | $ 8,549 | $ 9,357 |
Note 22 - Leases - Undiscounted
Note 22 - Leases - Undiscounted Cash Flows to be Received Under Operating Leases (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
2024 | $ 51 |
2025 | 54 |
2026 | 54 |
2027 | 27 |
Total lease payments to be received | $ 186 |
Note 22 - Leases - Lease Income
Note 22 - Leases - Lease Income Recognized (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Interest income on lease receivables | $ 1,163 | $ 1,087 |
Lease income - operating leases | 48 | 188 |
Total lease income | $ 1,211 | $ 1,275 |
Note 24 - Derivative Instrume_3
Note 24 - Derivative Instruments (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
U.S. Government Agencies and Corporations [Member] | |
Interest Income, Debt Securities, Available-for-Sale, Operating | $ 94 |
State and Political Subdivisions (Nontaxable) [Member] | |
Interest Income, Debt Securities, Available-for-Sale, Operating | 94 |
Investment Securities [Member] | Asset Pledged as Collateral [Member] | Derivative, Instrument Rate Swap [Member] | |
Financial Instruments, Owned, at Fair Value | $ 2,800 |
Note 24 - Derivative Instrume_4
Note 24 - Derivative Instruments - Schedule of Derivative Instruments (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Customer Interest Rate Swaps [Member] | |
Notional amount | $ 1,895 |
Weighted average years (Year) | 13 years 10 months 28 days |
Fair value | $ 171 |
Interest rate swaps | 171 |
Pay-fixed Interest Rate Swap [Member] | |
Notional amount | $ 100,000 |
Weighted average years (Year) | 2 years 9 months |
Fair value | $ (2,161) |
Interest rate swaps | (2,161) |
Third Party Interest Rate Swaps [Member] | |
Notional amount | $ 1,895 |
Weighted average years (Year) | 13 years 10 months 28 days |
Fair value | $ 171 |
Interest rate swaps | $ 171 |