Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 30, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001098151 | |
Entity Registrant Name | FIDELITY D & D BANCORP INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-38229 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-3017653 | |
Entity Address, Address Line One | Blakely & Drinker St. | |
Entity Address, City or Town | Dunmore | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 18512 | |
City Area Code | 570 | |
Local Phone Number | 342-8281 | |
Title of 12(b) Security | Common stock, without par value | |
Trading Symbol | FDBC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,735,732 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets: | ||
Cash and due from banks | $ 34,454 | $ 28,949 |
Interest-bearing deposits with financial institutions | 38,279 | 83,000 |
Total cash and cash equivalents | 72,733 | 111,949 |
Available-for-sale securities | 334,404 | 344,040 |
Held-to-maturity securities (fair value of $193,973 in 2024; $197,176 in 2023) | 224,612 | 224,233 |
Restricted investments in bank stock | 3,959 | 3,905 |
Loans and leases, net (allowance for credit losses of $18,886 in 2024; $18,806 in 2023) | 1,678,142 | 1,666,292 |
Loans held-for-sale (fair value $277 in 2024; $1,483 in 2023) | 271 | 1,457 |
Foreclosed assets held-for-sale | 220 | 1 |
Bank premises and equipment, net | 34,899 | 34,232 |
Leased property under finance leases, net | 1,116 | 1,173 |
Right-of-use assets | 9,056 | 7,771 |
Cash surrender value of bank owned life insurance | 54,921 | 54,572 |
Accrued interest receivable | 9,398 | 9,092 |
Goodwill | 19,628 | 19,628 |
Core deposit intangible, net | 1,100 | 1,184 |
Other assets | 24,437 | 23,630 |
Total assets | 2,468,896 | 2,503,159 |
Liabilities: | ||
Interest-bearing | 1,678,172 | 1,622,282 |
Non-interest-bearing | 537,824 | 536,143 |
Total deposits | 2,215,996 | 2,158,425 |
Allowance for credit losses on off-balance sheet credit exposures | 894 | 944 |
Finance lease obligation | 1,151 | 1,201 |
Operating lease liabilities | 9,935 | 8,549 |
Short-term borrowings | 25,000 | 117,000 |
Secured borrowings | 7,299 | 7,372 |
Accrued interest payable and other liabilities | 16,986 | 20,189 |
Total liabilities | 2,277,261 | 2,313,680 |
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; 5,735,732 at March 31, 2024; and 5,703,636 at December 31, 2023) | 118,438 | 117,695 |
Retained earnings | 131,111 | 128,251 |
Accumulated other comprehensive loss | (57,914) | (56,467) |
Treasury stock, at cost (10 shares at March 31, 2024 and 38 shares at December 31, 2023) | 0 | 0 |
Total shareholders' equity | 191,635 | 189,479 |
Total liabilities and shareholders' equity | $ 2,468,896 | $ 2,503,159 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Held-to-maturity securities, fair value | $ 193,973 | $ 197,176 |
Financing receivable, allowance for credit losses | 18,886 | 18,806 |
Loans held-for-sale, fair value | $ 277 | $ 1,483 |
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) | 5,735,732 | 5,703,636 |
Common stock, shares outstanding (in shares) | 5,735,732 | 5,703,636 |
Treasury stock, shares (in shares) | 10 | 38 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest income: | ||
Taxable | $ 20,929 | $ 18,119 |
Nontaxable | 1,204 | 899 |
Interest-bearing deposits with financial institutions | 376 | 31 |
Restricted investments in bank stock | 81 | 106 |
Investment securities: | ||
U.S. government agency and corporations | 1,488 | 1,520 |
States and political subdivisions (nontaxable) | 1,104 | 1,217 |
States and political subdivisions (taxable) | 443 | 446 |
Total interest income | 25,625 | 22,338 |
Interest expense: | ||
Deposits | 9,941 | 4,618 |
Secured borrowings | 121 | 111 |
Other short-term borrowings | 620 | 584 |
Total interest expense | 10,682 | 5,313 |
Net interest income | 14,943 | 17,025 |
Provision for credit losses on loans | 125 | 180 |
Net provision (benefit) for credit losses on unfunded loan commitments | (50) | 225 |
Net interest income after provision for credit losses | 14,868 | 16,620 |
Other income: | ||
Earnings on bank-owned life insurance | 349 | 321 |
Gain (loss) on write-down, sale or disposal of: | ||
Loans | 203 | 164 |
Available-for-sale debt securities | 0 | (1) |
Premises and equipment | 4 | (2) |
Total other income | 4,572 | 4,489 |
Other expenses: | ||
Salaries and employee benefits | 7,131 | 6,515 |
Premises and equipment | 2,159 | 2,127 |
Data processing and communication | 742 | 677 |
Advertising and marketing | 732 | 893 |
Professional services | 1,062 | 925 |
Automated transaction processing | 425 | 429 |
Office supplies and postage | 203 | 181 |
PA shares tax | 26 | (32) |
Loan collection | 3 | 13 |
Other real estate owned | 1 | 1 |
FDIC assessment | 298 | 168 |
Other | 907 | 960 |
Total other expenses | 13,689 | 12,857 |
Income before income taxes | 5,751 | 8,252 |
Provision for income taxes | 694 | 1,212 |
Net income | $ 5,057 | $ 7,040 |
Per share data: | ||
Net income - basic (in dollars per share) | $ 0.88 | $ 1.25 |
Net income - diluted (in dollars per share) | 0.88 | 1.24 |
Dividends (in dollars per share) | $ 0.38 | $ 0.36 |
Deposit Account [Member] | ||
Other income: | ||
Other Income | $ 957 | $ 922 |
Credit and Debit Card [Member] | ||
Other income: | ||
Other Income | 1,297 | 1,251 |
Bank Servicing [Member] | ||
Other income: | ||
Other Income | 304 | 298 |
Fiduciary and Trust [Member] | ||
Other income: | ||
Other Income | 848 | 695 |
Investment Advisory, Management and Administrative Service [Member] | ||
Other income: | ||
Other Income | 268 | 222 |
Financial Service, Other [Member] | ||
Other income: | ||
Other Income | $ 342 | $ 619 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 5,057 | $ 7,040 |
Other comprehensive (loss) gain, before tax: | ||
Unrealized holding (loss) gain on available-for-sale debt securities | (2,416) | 9,824 |
Reclassification adjustment for net losses (gains) realized in income | 0 | 1 |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity | 584 | 572 |
Net unrealized (loss) gain | (1,832) | 10,397 |
Tax effect | 385 | (2,183) |
Unrealized (loss) gain, net of tax | (1,447) | 8,214 |
Other comprehensive (loss) income, net of tax | (1,447) | 8,214 |
Total comprehensive income, net of tax | $ 3,610 | $ 15,254 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock Outstanding [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Common [Member] | Total |
Balance (in shares) at Dec. 31, 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 | 7,040 | 7,040 | ||||||
Other comprehensive income | 8,214 | 8,214 | ||||||
Issuance of common stock through Employee Stock Purchase Plan (in shares) | 7,294 | |||||||
Issuance of common stock through Employee Stock Purchase Plan | 302 | 302 | ||||||
Re-issuance of common stock through Dividend Reinvestment Plan (in shares) | 8,104 | |||||||
Re-issuance of common stock through Dividend Reinvestment Plan | 79 | $ 303 | 382 | |||||
Issuance of common stock from vested restricted share grants through stock compensation plans (in shares) | 20,449 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans | 0 | 0 | ||||||
Stock-based compensation expense | 445 | 445 | ||||||
Repurchase of shares to cover withholdings (in shares) | (1,386) | |||||||
Repurchase of shares to cover withholdings | (68) | (68) | ||||||
Cash dividends declared | (2,052) | (2,052) | ||||||
Balance (in shares) at Mar. 31, 2023 | 5,665,255 | |||||||
Balance at Mar. 31, 2023 | 116,437 | 123,416 | (62,938) | 175,887 | ||||
Balance (in shares) at Dec. 31, 2023 | 5,703,636 | |||||||
Balance at Dec. 31, 2023 | 117,695 | 128,251 | (56,467) | 0 | 189,479 | |||
Net income | 5,057 | 5,057 | ||||||
Other comprehensive income | (1,447) | (1,447) | ||||||
Issuance of common stock through Employee Stock Purchase Plan (in shares) | 6,764 | |||||||
Issuance of common stock through Employee Stock Purchase Plan | 280 | 280 | ||||||
Re-issuance of common stock through Dividend Reinvestment Plan (in shares) | 1,645 | |||||||
Re-issuance of common stock through Dividend Reinvestment Plan | 4 | 79 | 83 | |||||
Issuance of common stock from vested restricted share grants through stock compensation plans (in shares) | 25,304 | |||||||
Issuance of common stock from vested restricted share grants through stock compensation plans | 0 | |||||||
Stock-based compensation expense | 459 | 459 | ||||||
Repurchase of shares to cover withholdings (in shares) | (1,606) | |||||||
Repurchase of shares to cover withholdings | 0 | (79) | (79) | |||||
Cash dividends declared | (2,197) | (2,197) | ||||||
Forfeited restricted dividend reinvestment shares (in shares) | (11) | |||||||
Forfeited restricted dividend reinvestment shares | 0 | 0 | ||||||
Balance (in shares) at Mar. 31, 2024 | 5,735,732 | |||||||
Balance at Mar. 31, 2024 | $ 118,438 | $ 131,111 | $ (57,914) | $ 0 | $ 191,635 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income | $ 5,057 | $ 7,040 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 1,372 | 1,188 |
Provision for credit losses on loans | 125 | 180 |
Provision (benefit) for credit losses | (50) | 225 |
Deferred income tax expense (benefit) | 219 | (71) |
Stock-based compensation expense | 459 | 445 |
Proceeds from sale of loans held-for-sale | 10,857 | 11,105 |
Originations of loans held-for-sale | (9,588) | (9,795) |
Earnings from bank-owned life insurance | (349) | (321) |
Gain from bank-owned life insurance claim | 0 | (142) |
Net gain from sales of loans | (203) | (164) |
Net loss from sales of investment securities | 0 | 1 |
Net (gain) loss from write-down and disposal of bank premises and equipment | (4) | 2 |
Operating lease payments | 8 | 22 |
Change in: | ||
Accrued interest receivable | (306) | (179) |
Other assets | (575) | (895) |
Accrued interest payable and other liabilities | (1,688) | (1,589) |
Net cash provided by operating activities | 5,334 | 7,052 |
Cash flows from investing activities: | ||
Proceeds from sales | 0 | 31,208 |
Proceeds from maturities, calls and principal pay-downs | 4,992 | 7,142 |
Increase in restricted investments in bank stock | (54) | (700) |
Net increase in loans and leases | (12,881) | (63,082) |
Principal portion of lease payments received under direct finance leases | 1,138 | 1,407 |
Purchases of bank premises and equipment | (1,303) | (718) |
Proceeds from death benefits received on bank-owned life insurance | 0 | 931 |
Proceeds from sale of bank premises and equipment | 19 | 22 |
Net cash used in investing activities | (8,089) | (23,790) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 57,573 | (23,812) |
Net (decrease) increase in other borrowings | (92,072) | 75,991 |
Repayment of finance lease obligation | (49) | (59) |
Proceeds from employee stock purchase plan participants | 280 | 302 |
Repurchase of shares to cover withholdings | (79) | (68) |
Dividends paid, net of dividends reinvested | (2,114) | (1,669) |
Net cash (used in) provided by financing activities | (36,461) | 50,685 |
Net (decrease) increase in cash and cash equivalents | (39,216) | 33,947 |
Cash and cash equivalents, beginning | 111,949 | 29,091 |
Cash and cash equivalents, ending | 72,733 | 63,038 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 11,355 | 5,075 |
Income tax | 0 | 0 |
Supplemental Disclosures of Non-cash Investing Activities: | ||
Net change in unrealized losses on available-for-sale securities | (2,416) | 9,825 |
Cumulative-effect adjustment for adoption of ASU 2016-13 | 0 | (1,326) |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity | 584 | 572 |
Transfers from/(to) loans to/(from) foreclosed assets held-for-sale | 219 | |
Transfers from/(to) loans to/(from) foreclosed assets held-for-sale | (82) | |
Transfers to loans from loans held-for-sale, net | 0 | (205) |
Right-of-use asset | 1,391 | 0 |
Lease liability | $ 1,483 | $ 0 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Critical Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Nature of operations Fidelity D & D Bancorp, Inc. (the Company) is a bank holding company and the parent of The Fidelity Deposit and Discount Bank (the Bank). The Bank is a commercial bank and trust company chartered under the laws of the Commonwealth of Pennsylvania and a wholly-owned subsidiary of the Company. Having commenced operations in 1903, Principles of consolidation The accompanying unaudited consolidated financial statements of the Company and the Bank have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to this Form 10 8 03 X. not For additional information and disclosures required under U.S. GAAP, refer to the Company’s Annual Report on Form 10 December 31, 2023 Management is responsible for the fairness, integrity and objectivity of the unaudited financial statements included in this report. Management prepared the unaudited financial statements in accordance with U.S. GAAP. In meeting its responsibility for the financial statements, management depends on the Company's accounting systems and related internal controls. These systems and controls are designed to provide reasonable but not In the opinion of management, the consolidated balance sheets as of March 31, 2024 December 31, 2023 three March 31, 2024 2023 In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after March 31, 2024 This Quarterly Report on Form 10 December 31, 2023 10 Critical accounting policies The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. A material estimate is the calculation of fair values of the Company’s investment securities. Fair values of investment securities are determined by pricing provided by a third may one may Another material estimate that is particularly susceptible to significant change relates to the determination of the allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2024 is adequate and reasonable to cover expected losses. Given the subjective nature of identifying and estimating loan losses, it is reasonably possible that well-informed individuals could make different assumptions and could, therefore, calculate a materially different allowance amount. While management uses available information to recognize losses on loans, changes in current economic conditions and reasonable and supportable forecasts may may 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: ● Estimated 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. As of the reporting date, the Company is using the collateral and cash flow methods. 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. |
Note 2 - New Accounting Pronoun
Note 2 - New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 2. In March 2023, 2023 02, Investments - Equity Method and Joint Ventures (Topic 323 no 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 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. The following tables illustrate the changes in accumulated other comprehensive income by component and the details about the components of accumulated other comprehensive income as of and for the periods indicated: As of and for the three months ended March 31, 2024 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ (40,760 ) $ (15,707 ) $ (56,467 ) Other comprehensive loss before reclassifications, net of tax (1,908 ) - (1,908 ) Amounts reclassified from accumulated other comprehensive income, net of tax - 461 461 Net current-period other comprehensive loss (1,908 ) 461 (1,447 ) Ending balance $ (42,668 ) $ (15,246 ) $ (57,914 ) As of and for the three months ended March 31, 2023 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ (53,624 ) $ (17,528 ) $ (71,152 ) Other comprehensive income before reclassifications, net of tax 7,761 - 7,761 Amounts reclassified from accumulated other comprehensive income, net of tax 1 452 453 Net current-period other comprehensive income 7,762 452 8,214 Ending balance $ (45,862 ) $ (17,076 ) $ (62,938 ) 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 For the three months ended March 31, (dollars in thousands) 2024 2023 Unrealized (losses) gains on AFS debt securities $ - $ (1 ) Gain (loss) on sale of investment securities Amortization of unrealized loss on held-to-maturity securities (584 ) (572 ) Interest income on investment securities Total reclassifications for the period (584 ) (573 ) Income before income taxes Income tax effect 123 120 Provision for income taxes Total reclassifications for the period $ (461 ) $ (453 ) Net income |
Note 4 - Investment Securities
Note 4 - Investment Securities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Agency – Government-sponsored enterprise (GSE) and Mortgage-backed securities (MBS) - GSE residential Agency – GSE and MBS – GSE residential securities consist of short- to long-term notes issued by Federal Home Loan Mortgage Corporation (FHLMC), FNMA, FHLB and Government National Mortgage Association (GNMA). These securities have interest rates that are fixed, have varying short to long-term maturity dates and have contractual cash flows guaranteed by the U.S. government or agencies of the U.S. government. Obligations of states and political subdivisions (municipal) The municipal securities are general obligation and revenue bonds rated as investment grade by various credit rating agencies and have fixed rates of interest with mid- to long-term maturities. Fair values of these securities are highly driven by interest rates. Management performs ongoing credit quality reviews on these issues. The Company did not March 31, 2024 December 31, 2023, March 31, 2024 December 31, 2023 Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value March 31, 2024 Held-to-maturity securities: Agency - GSE $ 81,656 $ - $ (8,682 ) $ 72,974 Obligations of states and political subdivisions 142,956 - (21,957 ) 120,999 Total held-to-maturity securities $ 224,612 $ - $ (30,639 ) $ 193,973 Available-for-sale debt securities: Agency - GSE $ 31,201 $ - $ (3,770 ) $ 27,431 Obligations of states and political subdivisions 137,025 - (15,953 ) 121,072 MBS - GSE residential 220,189 - (34,288 ) 185,901 Total available-for-sale debt securities $ 388,415 $ - $ (54,011 ) $ 334,404 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 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 March 31, 2024 Amortized Fair (dollars in thousands) cost value Held-to-maturity securities: Due in one year or less $ - $ - Due after one year through five years 29,242 27,031 Due after five years through ten years 72,477 63,523 Due after ten years 122,893 103,419 Total held-to-maturity securities $ 224,612 $ 193,973 Available-for-sale securities: Debt securities: Due in one year or less $ 2,748 $ 2,666 Due after one year through five years 30,408 27,307 Due after five years through ten years 24,939 21,109 Due after ten years 109,807 97,421 MBS - GSE residential 220,189 185,901 Total available-for-sale debt securities $ 388,091 $ 334,404 There was a $0.3 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 March 31, 2024 The following table presents the fair value and gross unrealized losses of debt securities aggregated by investment type, the length of time and the number of securities that have been in a continuous unrealized loss position as of March 31, 2024 December 31, 2023 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses March 31, 2024 Agency - GSE $ - $ - $ 100,405 $ (12,452 ) $ 100,405 $ (12,452 ) Obligations of states and political subdivisions 1,611 (35 ) 240,460 (37,551 ) 242,071 (37,586 ) MBS - GSE residential - - 185,901 (33,964 ) 185,901 (33,964 ) Total $ 1,611 $ (35 ) $ 526,766 $ (83,967 ) $ 528,377 $ (84,002 ) Number of securities 3 415 418 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 There were $0.6 million and $2.2 million increases to the carrying value of AFS securities resulting from the interest rate swap that increased the unrealized loss position at March 31, 2024 December 31, 2023 not The Company had 418 debt securities in an unrealized loss position at March 31, 2024 March 31, 2024 no March 31, 2024. 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 |
Note 5 - Loans and Leases
Note 5 - Loans and Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. The classifications of loans and leases at March 31, 2024 December 31, 2023 (dollars in thousands) March 31, 2024 December 31, 2023 Commercial and industrial: Commercial $ 152,953 $ 152,640 Municipal 113,058 94,724 Commercial real estate: Non-owner occupied 305,962 311,565 Owner occupied 299,394 304,399 Construction 48,473 39,823 Consumer: Home equity installment 55,626 56,640 Home equity line of credit 52,564 52,348 Auto loans - Recourse 10,980 10,756 Auto loans - Non-recourse 102,622 112,595 Direct finance leases 32,544 33,601 Other 16,045 16,500 Residential: Real estate 475,712 465,010 Construction 33,174 36,536 Total 1,699,107 1,687,137 Less: Allowance for credit losses on loans (18,886 ) (18,806 ) Unearned lease revenue (2,079 ) (2,039 ) Loans and leases, net $ 1,678,142 $ 1,666,292 Total unamortized net costs and premiums included in loan totals were as follows: (dollars in thousands) March 31, 2024 December 31, 2023 Net unamortized fair value mark discount on acquired loans $ (6,015 ) $ (6,468 ) Net unamortized deferred loan origination costs 4,966 4,930 Total $ (1,049 ) $ (1,538 ) The Company excludes accrued interest receivable from the amortized cost basis of loans disclosed throughout this footnote. As of March 31, 2024 December 31, 2023 Direct finance leases include the lease receivable and the guaranteed lease residual. Unearned lease revenue represents the difference between the lessor’s investment in the property and the gross investment in the lease. Unearned revenue is accrued over the life of the lease using the effective interest method. The Company services real estate loans for investors in the secondary mortgage market which are not March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Non-accrual loans Non-accrual loans and loans past due over 89 March 31, 2024 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 March 31, 2024 Commercial and industrial: Commercial $ - $ 55 $ 55 $ - Municipal - - - - Commercial real estate: Non-owner occupied 525 - 525 - Owner occupied 1,578 457 2,035 - Consumer: Home equity installment 79 - 79 - Home equity line of credit 299 67 366 - Auto loans - Recourse - - - - Auto loans - Non-recourse 27 8 35 - Direct finance leases - - - 12 Other - 24 24 - Residential: Real estate 438 - 438 - Total $ 2,946 $ 611 $ 3,557 $ 12 (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 - Construction - - 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 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 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 one may The following tables present the amortized cost basis of loans at March 31, 2024 March 31, 2023 three March 31, 2024 2023 Loans modified during the three months ended: (dollars in thousands) March 31, 2024 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension Interest Rate Reduction Total Class of Financing Receivable Commercial real estate: Non-owner occupied $ - $ - $ 849 $ - $ - $ - 0.28 % Owner occupied - - 6,533 - - - 2.18 % Total $ - $ - $ 7,382 $ - $ - $ - Loans modified during the three months ended: (dollars in thousands) March 31, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension Interest Rate Reduction Total Class of Financing Receivable Commercial real estate: Non-owner occupied $ - $ - $ 65 $ 3,261 $ - $ - 1.07 % Total $ - $ - $ 65 $ 3,261 $ - $ - The Company has not Loans modified to borrowers experiencing financial difficulty are closely monitored to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the previous 12 (dollars in thousands) March 31, 2024 Current 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Commercial and industrial: Commercial $ 15 $ - $ - $ - $ - Commercial real estate: Non-owner occupied 849 - - - - Owner occupied 8,191 - - - - Total $ 9,055 $ - $ - $ - $ - (dollars in thousands) March 31, 2023 Current 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Commercial real estate: Non-owner occupied $ 3,326 $ - $ - $ - $ - Total $ 3,326 $ - $ - $ - $ - The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three March 31, 2024 2023 (dollars in thousands) March 31, 2024 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - - % 3.0 Owner occupied - - 5.0 (dollars in thousands) March 31, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - 6.13 % 6.0 There were no financing receivables that had a payment default during the three March 31, 2024 2023 twelve 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 March 31, 2024 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial: Commercial $ 145 - 55 $ 200 $ 152,753 $ 152,953 $ - Municipal - - - - 113,058 113,058 Commercial real estate: Non-owner occupied - 285 525 810 305,152 305,962 - Owner occupied 72 70 2,035 2,177 297,217 299,394 - Construction - - - - 48,473 48,473 - Consumer: Home equity installment 164 - 79 243 55,383 55,626 - Home equity line of credit 89 - 366 455 52,109 52,564 - Auto loans - Recourse 46 - - 46 10,934 10,980 - Auto loans - Non-recourse 519 13 35 567 102,055 102,622 - Direct finance leases 211 - 12 223 30,242 30,465 (2) 12 Other 118 9 24 151 15,894 16,045 - Residential: Real estate - 430 438 868 474,844 475,712 - Construction - - - - 33,174 33,174 - Total $ 1,364 $ 807 $ 3,569 $ 5,740 $ 1,691,288 $ 1,697,028 $ 12 ( 1 ( 2 ( 3 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 Credit Quality Indicators 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 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 $5.0 million and $4.9 million of deferred costs, segregated by class and vintage, categorized into the appropriate credit quality indicator category as of March 31, 2024 December 31, 2023 Commercial credit exposure Credit risk profile by creditworthiness category As of March 31, 2024 (dollars in thousands) March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial and industrial Risk Rating Pass $ 5,443 $ 29,235 18,316 15,459 4,978 18,956 52,436 $ - $ 144,823 Special Mention - - 139 193 - - - - 332 Substandard - - 259 6,338 17 353 831 - 7,798 Doubtful - - - - - - - - - Total commercial and industrial $ 5,443 $ 29,235 $ 18,714 $ 21,990 $ 4,995 $ 19,309 $ 53,267 $ - $ 152,953 Current period gross write-offs $ - $ - $ - $ 30 $ - $ 84 $ - $ - $ 114 Commercial and industrial - municipal Risk Rating Pass $ 16,861 $ 26,778 $ 15,758 $ 21,783 $ 12,996 $ 18,882 $ - $ - $ 113,058 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial and industrial - municipal $ 16,861 $ 26,778 $ 15,758 $ 21,783 $ 12,996 $ 18,882 $ - $ - $ 113,058 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - non-owner occupied Risk Rating Pass $ 3,814 $ 33,675 38,013 70,006 41,912 102,540 $ 7,269 $ - $ 297,229 Special Mention - - - - - - - - - Substandard - - - 688 125 7,920 - - 8,733 Doubtful - - - - - - - - - Total commercial real estate - non-owner occupied $ 3,814 $ 33,675 $ 38,013 $ 70,694 $ 42,037 $ 110,460 $ 7,269 $ - $ 305,962 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied Risk Rating Pass $ 1,922 29,866 58,559 45,279 28,676 104,280 10,805 $ - $ 279,387 Special Mention - - - 486 - - - - 486 Substandard - 6,740 512 527 11,156 586 - 19,521 Doubtful - - - - - - - - - Total commercial real estate - owner occupied $ 1,922 $ 29,866 $ 65,299 $ 46,277 $ 29,203 $ 115,436 $ 11,391 $ - $ 299,394 Current period gross write-offs $ - $ - $ - $ - $ - $ 5 $ - $ - $ 5 Commercial real estate - construction Risk Rating Pass $ 4,846 $ 21,758 $ 17,216 $ - $ - $ 3,689 $ 964 $ - $ 48,473 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial real estate - construction $ 4,846 $ 21,758 $ 17,216 $ - $ - $ 3,689 $ 964 $ - $ 48,473 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity As of March 31, 2024 (dollars in thousands) March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Home equity installment Payment performance Performing $ 1,416 $ 8,372 $ 17,214 $ 9,081 $ 7,501 $ 11,963 $ - $ - $ 55,547 Non-performing - - - - - 79 - - 79 Total home equity installment $ 1,416 $ 8,372 $ 17,214 $ 9,081 $ 7,501 $ 12,042 $ - $ - $ 55,626 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Home equity line of credit Payment performance Performing $ - $ - $ - $ - $ - $ - $ 41,497 $ 10,701 $ 52,198 Non-performing - - - - - - 366 - 366 Total home equity line of credit $ - $ - $ - $ - $ - $ - $ 41,863 $ 10,701 $ 52,564 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - recourse Payment performance Performing $ 1,236 $ 3,029 $ 1,779 $ 2,540 $ 1,678 $ 718 $ - $ - $ 10,980 Non-performing - - - - - - - - - Total auto loans - recourse $ 1,236 $ 3,029 $ 1,779 $ 2,540 $ 1,678 $ 718 $ - $ - $ 10,980 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - non-recourse Payment performance Performing $ 1,375 $ 36,683 $ 38,441 $ 15,457 $ 6,823 $ 3,808 $ - $ - $ 102,587 Non-performing - - 12 4 - 19 - - 35 Total auto loans - non-recourse $ 1,375 $ 36,683 $ 38,453 $ 15,461 $ 6,823 $ 3,827 $ - $ - $ 102,622 Current period gross write-offs $ - $ 15 $ 29 $ 6 $ 3 $ - $ - $ - $ 53 Direct finance leases (1) Payment performance Performing $ 2,852 $ 10,252 $ 9,776 $ 6,568 $ 935 $ 70 $ - $ - $ 30,453 Non-performing - - - 12 - - - - 12 Total direct finance leases $ 2,852 $ 10,252 $ 9,776 $ 6,580 $ 935 $ 70 $ - $ - $ 30,465 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer - other Payment performance Performing $ 1,422 $ 7,244 $ 2,767 $ 1,770 $ 592 $ 898 $ 1,328 $ - $ 16,021 Non-performing - - 24 - - - - - 24 Total consumer - other $ 1,422 $ 7,244 $ 2,791 $ 1,770 $ 592 $ 898 $ 1,328 $ - $ 16,045 Current period gross write-offs $ 1 $ 15 $ 10 $ 10 $ 2 $ 16 $ - $ - $ 54 Residential real estate Payment performance Performing $ 9,706 $ 52,897 $ 84,935 $ 139,372 $ 51,022 $ 137,342 $ - $ - $ 475,274 Non-performing - - - - - 438 - - 438 Total residential real estate $ 9,706 $ 52,897 $ 84,935 $ 139,372 $ 51,022 $ 137,780 $ - $ - $ 475,712 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential - construction Payment performance Performing $ 2,212 $ 12,642 $ 8,601 $ 6,420 $ 2,665 $ 634 $ - $ - $ 33,174 Non-performing - - - - - - - - - Total residential - construction $ 2,212 $ 12,642 $ 8,601 $ 6,420 $ 2,665 $ 634 $ - $ - $ 33,174 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - ( 1 Commercial credit exposure Credit risk profile by creditworthiness category As of December 31, 2023 (dollars in thousands) December 31, 2023 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 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 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 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 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 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) December 31, 2023 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 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 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 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 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 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 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 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 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - ( 2 Collateral dependent loans Loans that do not March 31, 2024 December 31, 2023: (dollars in thousands) Real Estate Other Total Collateral-Dependent Loans At March 31, 2024 Commercial and industrial: Commercial $ - $ 55 $ 55 Commercial real estate: Non-owner occupied 525 - 525 Owner occupied 2,035 - 2,035 Consumer: Home equity installment 79 - 79 Home equity line of credit 366 - 366 Auto loans - Non-recourse - 35 35 Other 24 - 24 Residential: Real estate 438 - 438 Total $ 3,467 $ 90 $ 3,557 (dollars in thousands) Real Estate Other Total Collateral-Dependent 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. Information related to the change in the allowance for credit losses on loans and the Company’s recorded investment in loans by portfolio segment as of the period indicated is as follows: As of and for the three months ended March 31, 2024 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Credit Losses: Beginning balance $ 1,850 $ 8,835 $ 2,391 $ 5,694 $ 36 $ 18,806 Charge-offs (114 ) (5 ) (107 ) - - (226 ) Recoveries 2 155 22 2 - 181 Provision (benefit) for credit losses 166 (161 ) (43 ) 150 13 125 Ending balance $ 1,904 $ 8,824 $ 2,263 $ 5,846 $ 49 $ 18,886 As of and for the three months ended March 31, 2023 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Credit Losses: Beginning balance $ 2,924 $ 7,162 $ 2,827 $ 4,169 $ 67 $ 17,149 Impact of adopting ASC 326 278 756 (547 ) 198 (67 ) 618 Initial allowance on loans purchased with credit deterioration - 126 - - - 126 Charge-offs (170 ) (32 ) (101 ) - - (303 ) Recoveries 20 39 72 9 - 140 Provision (benefit) for loan losses (502 ) 106 197 307 72 180 Ending balance $ 2,550 $ 8,157 $ 2,448 $ 4,683 $ 72 $ 17,910 Unfunded commitments In accordance with ASC Topic 326, not The Company's allowance for credit losses on unfunded commitments is recognized as a liability on the consolidated balance sheets, with adjustments to the reserve recognized in the provision for credit losses on unfunded commitments on the consolidated statements of income. The Company's activity in the allowance for credit losses on unfunded commitments for the period was as follows: (dollars in thousands) For the Three Months Ended March 31, 2024 For the Three Months Ended March 31, 2023 Beginning balance $ 944 $ 49 Impact of adopting ASC 326 - 1,060 Provision (benefit) for credit losses (50 ) 225 Ending balance $ 894 $ 1,334 Direct finance leases The Company originates direct finance leases through three e amortized cost of the C March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 the amortized cost of di March 31, 2024, 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 $ 10,128 2025 13,162 2026 6,410 2027 2,271 2028 95 2029 and thereafter - Total future minimum lease payments receivable 32,066 Less: Unearned income (2,079 ) Undiscounted cash flows to be received $ 29,987 |
Note 6 - Earnings Per Share
Note 6 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. Basic earnings per share (EPS) is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed in the same manner as basic EPS but also reflects the potential dilution that could occur from the grant of stock-based compensation awards. The Company maintains one may three March 31, 2024 2023 not three March 31, 2024 three March 31, 2024 2023 In the computation of diluted EPS, the Company uses the treasury stock method to determine the dilutive effect of its granted but unexercised stock options and SSARs and unvested restricted stock. Under the treasury stock method, the assumed proceeds, as defined, received from shares issued in a hypothetical stock option exercise or restricted stock grant, are assumed to be used to purchase treasury stock. Proceeds include amounts received from the exercise of outstanding stock options and compensation cost for future service that the Company has not not The following table illustrates the data used in computing basic and diluted EPS for the periods indicated: Three months ended March 31, 2024 2023 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 5,057 $ 7,040 Weighted-average common shares outstanding 5,722,232 5,649,623 Basic EPS $ 0.88 $ 1.25 Diluted EPS: Net income available to common shareholders $ 5,057 $ 7,040 Weighted-average common shares outstanding 5,722,232 5,649,623 Potentially dilutive common shares 39,389 42,480 Weighted-average common and potentially dilutive shares outstanding 5,761,621 5,692,103 Diluted EPS $ 0.88 $ 1.24 |
Note 7 - Stock Plans
Note 7 - Stock Plans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. The Company has one At the 2022 2022 2012 2012 2012 2012 2022. 2022 no 2032. In the 2022 2019, ten As delineated in the following table, during the first 2024 February 2024 2023 As delineated in the following table, during the first 2023 February 2023 2022 The following table summarizes the weighted-average fair value and vesting of restricted stock grants awarded during the periods ended March 31, 2024 2023 2022 March 31, 2024 March 31, 2023 Weighted- Weighted- Shares average grant Shares average grant granted date fair value granted date fair value Omnibus plan 10,000 (2) $ 46.96 18,000 (2) $ 49.43 Omnibus plan 1,558 (2) 46.96 17,684 (3) 49.43 Omnibus plan 10,871 (3) 46.96 50 (1) 49.43 Omnibus plan 50 (1) 46.96 - - Total 22,479 $ 46.96 35,734 $ 49.43 ( 1 ( 2 ( 3 The fair value of the shares granted in 2024 2023 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, 2023 12,519 61,200 73,719 $ 50.03 Granted - 22,479 22,479 46.96 Forfeited - (372 ) (372 ) 49.48 Vested (7,719 ) (17,585 ) (25,304 ) 51.05 Non-vested balance at March 31, 2024 4,800 65,722 70,522 $ 48.69 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, 2023 64,326 $ 11.59 3.8 Granted - Exercised - Forfeited - Outstanding March 31, 2024 64,326 $ 11.59 3.6 Of the SSARs outstanding at March 31, 2024 During the first three 2024 2023, Share-based compensation expense is included as a component of salaries and employee benefits in the consolidated statements of income. The following tables illustrate stock-based compensation expense recognized on non-vested equity awards during the three March 31, 2024 2023 March 31, 2024 Three months ended March 31, (dollars in thousands) 2024 2023 Stock-based compensation expense: 2012 Director stock incentive plan $ 79 $ 114 2012 Omnibus stock incentive plan 88 141 2022 Omnibus stock incentive plan 166 156 Employee stock purchase plan 126 34 Total stock-based compensation expense $ 459 $ 445 As of (dollars in thousands) March 31, 2024 Unrecognized stock-based compensation expense: 2012 Director stock incentive plan $ 210 2012 Omnibus stock incentive plan 216 2022 Omnibus stock incentive plan 2,008 Total unrecognized stock-based compensation expense $ 2,434 The unrecognized stock-based compensation expense as of March 31, 2024 February 2025, February 2025 February 2027 2012 2012 2022 In addition to the 2022 2002 March 31, 2024 108,591 shar |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. The accounting guidelines establish a framework for measuring and disclosing information about fair value measurements. The guidelines of fair value reporting instituted a valuation hierarchy for disclosure of the inputs used to measure fair value. This hierarchy prioritizes the inputs into three Level 1 - Level 2 - not Level 3 - 3 may A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The Company uses fair value to measure certain assets and, if necessary, liabilities on a recurring basis when fair value is the primary measure for accounting. Thus, the Company uses fair value for AFS securities. Fair value is used on a non-recurring basis to measure certain assets when adjusting carrying values to market values, such as impaired loans, other real estate owned (ORE) and other repossessed assets. The following table represents the carrying amount and estimated fair value of the Company’s financial instruments as of the periods indicated: March 31, 2024 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 $ 72,733 $ 72,733 $ 72,733 $ - $ - Held-to-maturity securities 224,612 193,973 - 193,973 - Available-for-sale debt securities 334,404 334,404 - 334,404 - Restricted investments in bank stock 3,959 3,959 - 3,959 - Loans and leases, net 1,678,142 1,529,828 - - 1,529,828 Loans held-for-sale 271 277 - 277 - Accrued interest receivable 9,398 9,398 - 9,398 - Interest rate swaps 210 210 - 210 - Financial liabilities: Deposits with no stated maturities 1,946,488 1,946,488 - 1,946,488 - Time deposits 269,508 266,635 - 266,635 - Short-term borrowings 25,000 25,000 - 25,000 - Secured borrowings 7,299 7,802 - - 7,802 Accrued interest payable 2,369 2,369 - 2,369 - Interest rate swaps 857 857 - 857 - 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 - 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) March 31, 2024 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Agency - GSE $ 27,431 $ - $ 27,431 $ - Obligations of states and political subdivisions 121,072 - 121,072 - MBS - GSE residential 185,901 - 185,901 - Total available-for-sale debt securities $ 334,404 $ - $ 334,404 $ - Interest rate swaps 210 - 210 - Total assets $ 334,614 $ - $ 334,614 $ - Liabilities: Interest rate swaps $ 857 $ - $ 857 $ - Total liabilities $ 857 $ - $ 857 $ - 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 $ - Debt securities in the AFS portfolio are measured at fair value using market quotations provided by a third 2 There were no changes in Level 3 March 31, 2024 December 31, 2023 From time-to-time, the Company may Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) Valuation techniques at March 31, 2024 (Level 1) (Level 2) (Level 3) Individually evaluated loans Fair value of collateral appraised value $ 392 $ - $ - $ 392 Other real estate owned Fair value of asset less selling costs 220 - - 220 Total $ 612 $ - $ - $ 612 Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) 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 The following describes valuation methodologies used for financial instruments measured at fair value on a non-recurring basis. Individually evaluated loans that are collateral dependent are written down to fair value through the establishment of specific reserves, a component of the allowance for credit losses, and as such are carried at the lower of net recorded investment or the estimated fair value. Estimates of fair value of the collateral are determined based on a variety of information, including available valuations from certified appraisers for similar assets, present value of discounted cash flows and inputs that are estimated based on commonly used and generally accepted industry liquidation advance rates and estimates and assumptions developed by management. Valuation techniques for individually evaluated, collateral dependent loans are typically determined through independent appraisals of the underlying collateral or may 3 not may not may At March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 3. For ORE, fair value is generally determined through independent appraisals of the underlying properties which generally include various Level 3 not may may March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 At March 31, 2024 December 31, 2023 |
Note 9 - Employee Benefits
Note 9 - Employee Benefits | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans, Other than Share-Based Compensation [Text Block] | 9. Bank-Owned Life Insurance (BOLI) The Company has purchased single premium BOLI policies on certain officers. The policies are recorded at their cash surrender values. Increases in cash surrender values are included in non-interest income in the consolidated statements of income. The policies’ cash surrender value totaled $54.9 million and $54.6 million, respectively, as of March 31, 2024 December 31, 2023 first 2023, three March 31, 2024 2023 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 March 31, 2024 , efits of $54.9 million of which $8.8 million would be paid to the officer’s beneficiaries and the remaining $46.1 million would two March 31, 2024 December 31, 2023 Supplemental Executive Retirement plan (SERP) On March 29, 2017, March 1, 2017 March 20, 2019, March 1, 2019 March 31, 2024 December 31, 2023 |
Note 10 - Revenue Recognition
Note 10 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 10. The Company adopted ASU 2014 09, 606 606. The majority of the Company’s revenues are generated through interest earned on securities and loans, which is explicitly excluded from the scope of the guidance. In addition, certain non-interest income streams such as fees associated with mortgage servicing rights, loan service charges, life insurance earnings, rental income and gains/losses on the sale of loans and securities are not ● Service charges on deposit accounts – Deposit service charges represent fees charged by the Company for the performance obligation of providing services to a customer’s deposit account. The transaction price for deposit services includes both fixed and variable amounts based on the Company’s fee schedules. Revenue is recognized and payment is received either at a point in time for transactional fees or on a monthly basis for non-transactional fees. ● Interchange fees – Interchange fees represent fees charged by the Company for customers using debit cards. The contract is between the Company and the processor and the performance obligation is the ability of customers to use debit cards to make purchases at a point in time. The transaction price is a percentage of debit card usage and the processor pays the Company and revenue is recorded throughout the month as the performance obligations are being met. ● Fees from trust fiduciary activities – Trust fees represent fees charged by the Company for the management, custody and/or administration of trusts. These are mostly monthly fees based on the market value of assets in the trust account at the prior month end. Payment is generally received a few weeks after month end through a direct charge to customers’ accounts. Estate fees are recognized and charged as the Company reaches each of six ● Fees from financial services – Financial service fees represent fees charged by the Company for the performance obligation of providing various services for an investment account. Revenue is recognized twice monthly for fees on sales transactions and on a monthly basis for advisory fees and quarterly for trail fees. ● Gain/loss on ORE sales – Gain/loss on the sale of ORE is recognized at the closing date when the sales proceeds are received. In seller-financed ORE transactions, the contract is made subject to our normal underwriting standards and pricing. The Company does not Contract balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before the payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity already received payment (or payment is due) from the customer. The Company’s non-interest income streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company typically does not not March 31, 2024 December 31, 2023 not Remaining performance obligations The Company’s performance obligations have an original expected duration of less than one no not Contract acquisition costs An entity is required to capitalize and subsequently amortize into expense, certain incremental costs of obtaining a contract if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not not one |
Note 11 - Leases
Note 11 - Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lease Disclosure [Text Block] | 11. ASU 2016 02 842 January 1, 2019. not 12 not Management determines if an arrangement is or contains a lease at contract inception. If an arrangement is determined to be or contains a lease, the Company recognizes a ROU asset and a lease liability when the asset is placed in service. The Company’s operating leases, where the Company is lessee, include property, land and equipment. As of March 31, 2024 one third The following is an analysis of the leased property under finance leases: (dollars in thousands) March 31, 2024 December 31, 2023 Property and equipment $ 2,014 $ 2,014 Less accumulated depreciation and amortization (898 ) (841 ) Leased property under finance leases, net $ 1,116 $ 1,173 The following is a schedule of future minimum lease payments under finance leases together with the present value of the net minimum lease payments as of March 31, 2024 (dollars in thousands) Amount 2024 $ 187 2025 233 2026 222 2027 222 2028 199 2029 and thereafter 162 Total minimum lease payments (a) 1,225 Less amount representing interest (b) (74 ) Present value of net minimum lease payments $ 1,151 (a) The future minimum lease payments have not (b) Amount necessary to reduce net minimum lease payments to present value calculated at the Company’s incremental borrowing rate upon lease inception. As of March 31, 2024 2022, 2024, The following describes lease cost and other information about leases where the Company is the lessee as of the periods indicated: (dollars in thousands) March 31, 2024 March 31, 2023 Lease cost Finance lease cost: Amortization of right-of-use assets $ 57 $ 60 Interest on lease liabilities 7 5 Operating lease cost 178 192 Short-term lease cost 20 22 Variable lease cost 12 17 Total lease cost $ 274 $ 296 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 7 $ 5 Operating cash flows from operating leases (Fixed payments) $ 175 $ 176 Operating cash flows from operating leases (Liability reduction) $ 97 $ 94 Financing cash flows from finance leases $ 49 $ 59 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,391 $ - Weighted-average remaining lease term - finance leases (in years) 5.37 6.39 Weighted average remaining lease term - operating leases (in years) 21.73 20.48 Weighted-average discount rate - finance leases 2.52 % 1.70 % Weighted-average discount rate - operating leases 3.95 % 3.39 % During the first 2024, first 2023, The future minimum lease payments for the Company’s branch network and equipment under operating leases that have lease terms in excess of one March 31, 2024 (dollars in thousands) Amount 2024 $ 511 2025 662 2026 669 2027 679 2028 689 2029 and thereafter 12,219 Total future minimum lease payments 15,429 Less variable payment adjustment (172 ) Less amount representing interest (5,322 ) Present value of net future minimum lease payments $ 9,935 The Company leases one property, where the Company is lessor, under an operating lease to an unrelated party. The undiscounted cash flows to be received on an annual basis for the property are as follows: (dollars in thousands) Amount 2024 $ 43 2025 54 2026 54 2027 27 Total lease payments to be received $ 178 The Company also indirectly originates automobile leases classified as direct finance leases. See Footnote 5, Lease income recognized from direct finance leases was included in interest income from loans and leases on the consolidated statements of income. Lease income related to operating leases is included in fees and other revenue on the consolidated statements of income. The Company only receives a variable payment for taxes from one For the three months ended March 31, (dollars in thousands) 2024 2023 Lease income - direct finance leases Interest income on lease receivables $ 313 $ 320 Lease income - operating leases 8 12 Total lease income $ 321 $ 332 |
Note 12 - Derivative Instrument
Note 12 - Derivative Instruments | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 12. 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 The Company is a party to interest rate derivatives that are not third not may may 820. no Weighted Notional Average Maturity Interest Rate Interest Rate (dollars in thousands) Amount (Years) Paid Received Fair Value March 31, 2024 Classified in Other assets: Customer interest rate swaps $ 1,868 13.66 30 Day SOFR + Margin Fixed $ 210 Classified in Accrued interest payable and other liabilities: Third party interest rate swaps $ 1,868 13.66 Fixed 30 Day SOFR + Margin $ 210 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 three March 31, 2024 Weighted Notional Average Maturity (dollars in thousands) Amount (Years) Fair Value March 31, 2024 Pay-fixed interest rate swap agreements - securities AFS $ 100,000 2.5 $ (647 ) The Company had investment securities with a book value of $2.8 million pledged as collateral on its interest rate swaps with a third March 31, 2024 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. During the three March 31, 2024 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) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of operations Fidelity D & D Bancorp, Inc. (the Company) is a bank holding company and the parent of The Fidelity Deposit and Discount Bank (the Bank). The Bank is a commercial bank and trust company chartered under the laws of the Commonwealth of Pennsylvania and a wholly-owned subsidiary of the Company. Having commenced operations in 1903, |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The accompanying unaudited consolidated financial statements of the Company and the Bank have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to this Form 10 8 03 X. not For additional information and disclosures required under U.S. GAAP, refer to the Company’s Annual Report on Form 10 December 31, 2023 Management is responsible for the fairness, integrity and objectivity of the unaudited financial statements included in this report. Management prepared the unaudited financial statements in accordance with U.S. GAAP. In meeting its responsibility for the financial statements, management depends on the Company's accounting systems and related internal controls. These systems and controls are designed to provide reasonable but not In the opinion of management, the consolidated balance sheets as of March 31, 2024 December 31, 2023 three March 31, 2024 2023 In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after March 31, 2024 This Quarterly Report on Form 10 December 31, 2023 10 |
Use of Estimates, Policy [Policy Text Block] | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | A material estimate is the calculation of fair values of the Company’s investment securities. Fair values of investment securities are determined by pricing provided by a third may one may |
Marketable Securities, Policy [Policy Text Block] | Another material estimate that is particularly susceptible to significant change relates to the determination of the allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2024 is adequate and reasonable to cover expected losses. Given the subjective nature of identifying and estimating loan losses, it is reasonably possible that well-informed individuals could make different assumptions and could, therefore, calculate a materially different allowance amount. While management uses available information to recognize losses on loans, changes in current economic conditions and reasonable and supportable forecasts may may 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: ● Estimated 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. As of the reporting date, the Company is using the collateral and cash flow methods. 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. |
Note 3 - Accumulated Other Co_2
Note 3 - Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | As of and for the three months ended March 31, 2024 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ (40,760 ) $ (15,707 ) $ (56,467 ) Other comprehensive loss before reclassifications, net of tax (1,908 ) - (1,908 ) Amounts reclassified from accumulated other comprehensive income, net of tax - 461 461 Net current-period other comprehensive loss (1,908 ) 461 (1,447 ) Ending balance $ (42,668 ) $ (15,246 ) $ (57,914 ) As of and for the three months ended March 31, 2023 Unrealized gains (losses) on Securities available-for-sale transferred to (dollars in thousands) debt securities held-to-maturity Total Beginning balance $ (53,624 ) $ (17,528 ) $ (71,152 ) Other comprehensive income before reclassifications, net of tax 7,761 - 7,761 Amounts reclassified from accumulated other comprehensive income, net of tax 1 452 453 Net current-period other comprehensive income 7,762 452 8,214 Ending balance $ (45,862 ) $ (17,076 ) $ (62,938 ) |
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 For the three months ended March 31, (dollars in thousands) 2024 2023 Unrealized (losses) gains on AFS debt securities $ - $ (1 ) Gain (loss) on sale of investment securities Amortization of unrealized loss on held-to-maturity securities (584 ) (572 ) Interest income on investment securities Total reclassifications for the period (584 ) (573 ) Income before income taxes Income tax effect 123 120 Provision for income taxes Total reclassifications for the period $ (461 ) $ (453 ) Net income |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value March 31, 2024 Held-to-maturity securities: Agency - GSE $ 81,656 $ - $ (8,682 ) $ 72,974 Obligations of states and political subdivisions 142,956 - (21,957 ) 120,999 Total held-to-maturity securities $ 224,612 $ - $ (30,639 ) $ 193,973 Available-for-sale debt securities: Agency - GSE $ 31,201 $ - $ (3,770 ) $ 27,431 Obligations of states and political subdivisions 137,025 - (15,953 ) 121,072 MBS - GSE residential 220,189 - (34,288 ) 185,901 Total available-for-sale debt securities $ 388,415 $ - $ (54,011 ) $ 334,404 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 |
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 29,242 27,031 Due after five years through ten years 72,477 63,523 Due after ten years 122,893 103,419 Total held-to-maturity securities $ 224,612 $ 193,973 Available-for-sale securities: Debt securities: Due in one year or less $ 2,748 $ 2,666 Due after one year through five years 30,408 27,307 Due after five years through ten years 24,939 21,109 Due after ten years 109,807 97,421 MBS - GSE residential 220,189 185,901 Total available-for-sale debt securities $ 388,091 $ 334,404 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses March 31, 2024 Agency - GSE $ - $ - $ 100,405 $ (12,452 ) $ 100,405 $ (12,452 ) Obligations of states and political subdivisions 1,611 (35 ) 240,460 (37,551 ) 242,071 (37,586 ) MBS - GSE residential - - 185,901 (33,964 ) 185,901 (33,964 ) Total $ 1,611 $ (35 ) $ 526,766 $ (83,967 ) $ 528,377 $ (84,002 ) Number of securities 3 415 418 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 |
Note 5 - Loans and Leases (Tabl
Note 5 - Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (dollars in thousands) March 31, 2024 December 31, 2023 Commercial and industrial: Commercial $ 152,953 $ 152,640 Municipal 113,058 94,724 Commercial real estate: Non-owner occupied 305,962 311,565 Owner occupied 299,394 304,399 Construction 48,473 39,823 Consumer: Home equity installment 55,626 56,640 Home equity line of credit 52,564 52,348 Auto loans - Recourse 10,980 10,756 Auto loans - Non-recourse 102,622 112,595 Direct finance leases 32,544 33,601 Other 16,045 16,500 Residential: Real estate 475,712 465,010 Construction 33,174 36,536 Total 1,699,107 1,687,137 Less: Allowance for credit losses on loans (18,886 ) (18,806 ) Unearned lease revenue (2,079 ) (2,039 ) Loans and leases, net $ 1,678,142 $ 1,666,292 |
Schedule of Unamortized Net Costs and Premiums Included in Loans [Table Text Block] | (dollars in thousands) March 31, 2024 December 31, 2023 Net unamortized fair value mark discount on acquired loans $ (6,015 ) $ (6,468 ) Net unamortized deferred loan origination costs 4,966 4,930 Total $ (1,049 ) $ (1,538 ) |
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 March 31, 2024 Commercial and industrial: Commercial $ - $ 55 $ 55 $ - Municipal - - - - Commercial real estate: Non-owner occupied 525 - 525 - Owner occupied 1,578 457 2,035 - Consumer: Home equity installment 79 - 79 - Home equity line of credit 299 67 366 - Auto loans - Recourse - - - - Auto loans - Non-recourse 27 8 35 - Direct finance leases - - - 12 Other - 24 24 - Residential: Real estate 438 - 438 - Total $ 2,946 $ 611 $ 3,557 $ 12 (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 - Construction - - 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 |
Financing Receivable, Modified [Table Text Block] | Loans modified during the three months ended: (dollars in thousands) March 31, 2024 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension Interest Rate Reduction Total Class of Financing Receivable Commercial real estate: Non-owner occupied $ - $ - $ 849 $ - $ - $ - 0.28 % Owner occupied - - 6,533 - - - 2.18 % Total $ - $ - $ 7,382 $ - $ - $ - Loans modified during the three months ended: (dollars in thousands) March 31, 2023 Principal Forgiveness Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Principal Forgiveness Combination Term Extension Interest Rate Reduction Total Class of Financing Receivable Commercial real estate: Non-owner occupied $ - $ - $ 65 $ 3,261 $ - $ - 1.07 % Total $ - $ - $ 65 $ 3,261 $ - $ - (dollars in thousands) March 31, 2024 Current 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Commercial and industrial: Commercial $ 15 $ - $ - $ - $ - Commercial real estate: Non-owner occupied 849 - - - - Owner occupied 8,191 - - - - Total $ 9,055 $ - $ - $ - $ - (dollars in thousands) March 31, 2023 Current 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Commercial real estate: Non-owner occupied $ 3,326 $ - $ - $ - $ - Total $ 3,326 $ - $ - $ - $ - (dollars in thousands) March 31, 2024 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - - % 3.0 Owner occupied - - 5.0 (dollars in thousands) March 31, 2023 Principal Forgiveness Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (Months) Commercial real estate: Non-owner occupied $ - 6.13 % 6.0 |
Financing Receivable, Past Due [Table Text Block] | Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days March 31, 2024 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial: Commercial $ 145 - 55 $ 200 $ 152,753 $ 152,953 $ - Municipal - - - - 113,058 113,058 Commercial real estate: Non-owner occupied - 285 525 810 305,152 305,962 - Owner occupied 72 70 2,035 2,177 297,217 299,394 - Construction - - - - 48,473 48,473 - Consumer: Home equity installment 164 - 79 243 55,383 55,626 - Home equity line of credit 89 - 366 455 52,109 52,564 - Auto loans - Recourse 46 - - 46 10,934 10,980 - Auto loans - Non-recourse 519 13 35 567 102,055 102,622 - Direct finance leases 211 - 12 223 30,242 30,465 (2) 12 Other 118 9 24 151 15,894 16,045 - Residential: Real estate - 430 438 868 474,844 475,712 - Construction - - - - 33,174 33,174 - Total $ 1,364 $ 807 $ 3,569 $ 5,740 $ 1,691,288 $ 1,697,028 $ 12 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 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial and industrial Risk Rating Pass $ 5,443 $ 29,235 18,316 15,459 4,978 18,956 52,436 $ - $ 144,823 Special Mention - - 139 193 - - - - 332 Substandard - - 259 6,338 17 353 831 - 7,798 Doubtful - - - - - - - - - Total commercial and industrial $ 5,443 $ 29,235 $ 18,714 $ 21,990 $ 4,995 $ 19,309 $ 53,267 $ - $ 152,953 Current period gross write-offs $ - $ - $ - $ 30 $ - $ 84 $ - $ - $ 114 Commercial and industrial - municipal Risk Rating Pass $ 16,861 $ 26,778 $ 15,758 $ 21,783 $ 12,996 $ 18,882 $ - $ - $ 113,058 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial and industrial - municipal $ 16,861 $ 26,778 $ 15,758 $ 21,783 $ 12,996 $ 18,882 $ - $ - $ 113,058 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - non-owner occupied Risk Rating Pass $ 3,814 $ 33,675 38,013 70,006 41,912 102,540 $ 7,269 $ - $ 297,229 Special Mention - - - - - - - - - Substandard - - - 688 125 7,920 - - 8,733 Doubtful - - - - - - - - - Total commercial real estate - non-owner occupied $ 3,814 $ 33,675 $ 38,013 $ 70,694 $ 42,037 $ 110,460 $ 7,269 $ - $ 305,962 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate - owner occupied Risk Rating Pass $ 1,922 29,866 58,559 45,279 28,676 104,280 10,805 $ - $ 279,387 Special Mention - - - 486 - - - - 486 Substandard - 6,740 512 527 11,156 586 - 19,521 Doubtful - - - - - - - - - Total commercial real estate - owner occupied $ 1,922 $ 29,866 $ 65,299 $ 46,277 $ 29,203 $ 115,436 $ 11,391 $ - $ 299,394 Current period gross write-offs $ - $ - $ - $ - $ - $ 5 $ - $ - $ 5 Commercial real estate - construction Risk Rating Pass $ 4,846 $ 21,758 $ 17,216 $ - $ - $ 3,689 $ 964 $ - $ 48,473 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total commercial real estate - construction $ 4,846 $ 21,758 $ 17,216 $ - $ - $ 3,689 $ 964 $ - $ 48,473 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Home equity installment Payment performance Performing $ 1,416 $ 8,372 $ 17,214 $ 9,081 $ 7,501 $ 11,963 $ - $ - $ 55,547 Non-performing - - - - - 79 - - 79 Total home equity installment $ 1,416 $ 8,372 $ 17,214 $ 9,081 $ 7,501 $ 12,042 $ - $ - $ 55,626 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Home equity line of credit Payment performance Performing $ - $ - $ - $ - $ - $ - $ 41,497 $ 10,701 $ 52,198 Non-performing - - - - - - 366 - 366 Total home equity line of credit $ - $ - $ - $ - $ - $ - $ 41,863 $ 10,701 $ 52,564 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - recourse Payment performance Performing $ 1,236 $ 3,029 $ 1,779 $ 2,540 $ 1,678 $ 718 $ - $ - $ 10,980 Non-performing - - - - - - - - - Total auto loans - recourse $ 1,236 $ 3,029 $ 1,779 $ 2,540 $ 1,678 $ 718 $ - $ - $ 10,980 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Auto loans - non-recourse Payment performance Performing $ 1,375 $ 36,683 $ 38,441 $ 15,457 $ 6,823 $ 3,808 $ - $ - $ 102,587 Non-performing - - 12 4 - 19 - - 35 Total auto loans - non-recourse $ 1,375 $ 36,683 $ 38,453 $ 15,461 $ 6,823 $ 3,827 $ - $ - $ 102,622 Current period gross write-offs $ - $ 15 $ 29 $ 6 $ 3 $ - $ - $ - $ 53 Direct finance leases (1) Payment performance Performing $ 2,852 $ 10,252 $ 9,776 $ 6,568 $ 935 $ 70 $ - $ - $ 30,453 Non-performing - - - 12 - - - - 12 Total direct finance leases $ 2,852 $ 10,252 $ 9,776 $ 6,580 $ 935 $ 70 $ - $ - $ 30,465 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer - other Payment performance Performing $ 1,422 $ 7,244 $ 2,767 $ 1,770 $ 592 $ 898 $ 1,328 $ - $ 16,021 Non-performing - - 24 - - - - - 24 Total consumer - other $ 1,422 $ 7,244 $ 2,791 $ 1,770 $ 592 $ 898 $ 1,328 $ - $ 16,045 Current period gross write-offs $ 1 $ 15 $ 10 $ 10 $ 2 $ 16 $ - $ - $ 54 Residential real estate Payment performance Performing $ 9,706 $ 52,897 $ 84,935 $ 139,372 $ 51,022 $ 137,342 $ - $ - $ 475,274 Non-performing - - - - - 438 - - 438 Total residential real estate $ 9,706 $ 52,897 $ 84,935 $ 139,372 $ 51,022 $ 137,780 $ - $ - $ 475,712 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential - construction Payment performance Performing $ 2,212 $ 12,642 $ 8,601 $ 6,420 $ 2,665 $ 634 $ - $ - $ 33,174 Non-performing - - - - - - - - - Total residential - construction $ 2,212 $ 12,642 $ 8,601 $ 6,420 $ 2,665 $ 634 $ - $ - $ 33,174 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - December 31, 2023 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 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 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 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 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 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - December 31, 2023 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 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 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 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 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 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 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 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 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - |
Schedule of Collateral Dependent Loans [Table Text Block] | (dollars in thousands) Real Estate Other Total Collateral-Dependent Loans At March 31, 2024 Commercial and industrial: Commercial $ - $ 55 $ 55 Commercial real estate: Non-owner occupied 525 - 525 Owner occupied 2,035 - 2,035 Consumer: Home equity installment 79 - 79 Home equity line of credit 366 - 366 Auto loans - Non-recourse - 35 35 Other 24 - 24 Residential: Real estate 438 - 438 Total $ 3,467 $ 90 $ 3,557 (dollars in thousands) Real Estate Other Total Collateral-Dependent 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 three months ended March 31, 2024 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Credit Losses: Beginning balance $ 1,850 $ 8,835 $ 2,391 $ 5,694 $ 36 $ 18,806 Charge-offs (114 ) (5 ) (107 ) - - (226 ) Recoveries 2 155 22 2 - 181 Provision (benefit) for credit losses 166 (161 ) (43 ) 150 13 125 Ending balance $ 1,904 $ 8,824 $ 2,263 $ 5,846 $ 49 $ 18,886 As of and for the three months ended March 31, 2023 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Credit Losses: Beginning balance $ 2,924 $ 7,162 $ 2,827 $ 4,169 $ 67 $ 17,149 Impact of adopting ASC 326 278 756 (547 ) 198 (67 ) 618 Initial allowance on loans purchased with credit deterioration - 126 - - - 126 Charge-offs (170 ) (32 ) (101 ) - - (303 ) Recoveries 20 39 72 9 - 140 Provision (benefit) for loan losses (502 ) 106 197 307 72 180 Ending balance $ 2,550 $ 8,157 $ 2,448 $ 4,683 $ 72 $ 17,910 |
Schedule of Credit Loss on Unfunded Commitments [Table Text Block] | (dollars in thousands) For the Three Months Ended March 31, 2024 For the Three Months Ended March 31, 2023 Beginning balance $ 944 $ 49 Impact of adopting ASC 326 - 1,060 Provision (benefit) for credit losses (50 ) 225 Ending balance $ 894 $ 1,334 |
Sales-Type and Direct Financing Leases, Payment to be Received, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 10,128 2025 13,162 2026 6,410 2027 2,271 2028 95 2029 and thereafter - Total future minimum lease payments receivable 32,066 Less: Unearned income (2,079 ) Undiscounted cash flows to be received $ 29,987 |
Note 6 - Earnings Per Share (Ta
Note 6 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2024 2023 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 5,057 $ 7,040 Weighted-average common shares outstanding 5,722,232 5,649,623 Basic EPS $ 0.88 $ 1.25 Diluted EPS: Net income available to common shareholders $ 5,057 $ 7,040 Weighted-average common shares outstanding 5,722,232 5,649,623 Potentially dilutive common shares 39,389 42,480 Weighted-average common and potentially dilutive shares outstanding 5,761,621 5,692,103 Diluted EPS $ 0.88 $ 1.24 |
Note 7 - Stock Plans (Tables)
Note 7 - Stock Plans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | March 31, 2024 March 31, 2023 Weighted- Weighted- Shares average grant Shares average grant granted date fair value granted date fair value Omnibus plan 10,000 (2) $ 46.96 18,000 (2) $ 49.43 Omnibus plan 1,558 (2) 46.96 17,684 (3) 49.43 Omnibus plan 10,871 (3) 46.96 50 (1) 49.43 Omnibus plan 50 (1) 46.96 - - Total 22,479 $ 46.96 35,734 $ 49.43 |
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, 2023 12,519 61,200 73,719 $ 50.03 Granted - 22,479 22,479 46.96 Forfeited - (372 ) (372 ) 49.48 Vested (7,719 ) (17,585 ) (25,304 ) 51.05 Non-vested balance at March 31, 2024 4,800 65,722 70,522 $ 48.69 |
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, 2023 64,326 $ 11.59 3.8 Granted - Exercised - Forfeited - Outstanding March 31, 2024 64,326 $ 11.59 3.6 |
Share-Based Payment Arrangement, Cost by Plan [Table Text Block] | Three months ended March 31, (dollars in thousands) 2024 2023 Stock-based compensation expense: 2012 Director stock incentive plan $ 79 $ 114 2012 Omnibus stock incentive plan 88 141 2022 Omnibus stock incentive plan 166 156 Employee stock purchase plan 126 34 Total stock-based compensation expense $ 459 $ 445 |
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | As of (dollars in thousands) March 31, 2024 Unrecognized stock-based compensation expense: 2012 Director stock incentive plan $ 210 2012 Omnibus stock incentive plan 216 2022 Omnibus stock incentive plan 2,008 Total unrecognized stock-based compensation expense $ 2,434 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2024 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 $ 72,733 $ 72,733 $ 72,733 $ - $ - Held-to-maturity securities 224,612 193,973 - 193,973 - Available-for-sale debt securities 334,404 334,404 - 334,404 - Restricted investments in bank stock 3,959 3,959 - 3,959 - Loans and leases, net 1,678,142 1,529,828 - - 1,529,828 Loans held-for-sale 271 277 - 277 - Accrued interest receivable 9,398 9,398 - 9,398 - Interest rate swaps 210 210 - 210 - Financial liabilities: Deposits with no stated maturities 1,946,488 1,946,488 - 1,946,488 - Time deposits 269,508 266,635 - 266,635 - Short-term borrowings 25,000 25,000 - 25,000 - Secured borrowings 7,299 7,802 - - 7,802 Accrued interest payable 2,369 2,369 - 2,369 - Interest rate swaps 857 857 - 857 - 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 - |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total carrying value Quoted prices in active markets Significant other observable inputs Significant other unobservable inputs (dollars in thousands) March 31, 2024 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Agency - GSE $ 27,431 $ - $ 27,431 $ - Obligations of states and political subdivisions 121,072 - 121,072 - MBS - GSE residential 185,901 - 185,901 - Total available-for-sale debt securities $ 334,404 $ - $ 334,404 $ - Interest rate swaps 210 - 210 - Total assets $ 334,614 $ - $ 334,614 $ - Liabilities: Interest rate swaps $ 857 $ - $ 857 $ - Total liabilities $ 857 $ - $ 857 $ - 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 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) Valuation techniques at March 31, 2024 (Level 1) (Level 2) (Level 3) Individually evaluated loans Fair value of collateral appraised value $ 392 $ - $ - $ 392 Other real estate owned Fair value of asset less selling costs 220 - - 220 Total $ 612 $ - $ - $ 612 Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) 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 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Lessee, Finance Lease, Assets and Liabilities [Table Text Block] | (dollars in thousands) March 31, 2024 December 31, 2023 Property and equipment $ 2,014 $ 2,014 Less accumulated depreciation and amortization (898 ) (841 ) Leased property under finance leases, net $ 1,116 $ 1,173 |
Finance Lease, Liability, to be Paid, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 187 2025 233 2026 222 2027 222 2028 199 2029 and thereafter 162 Total minimum lease payments (a) 1,225 Less amount representing interest (b) (74 ) Present value of net minimum lease payments $ 1,151 |
Lease, Cost [Table Text Block] | (dollars in thousands) March 31, 2024 March 31, 2023 Lease cost Finance lease cost: Amortization of right-of-use assets $ 57 $ 60 Interest on lease liabilities 7 5 Operating lease cost 178 192 Short-term lease cost 20 22 Variable lease cost 12 17 Total lease cost $ 274 $ 296 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 7 $ 5 Operating cash flows from operating leases (Fixed payments) $ 175 $ 176 Operating cash flows from operating leases (Liability reduction) $ 97 $ 94 Financing cash flows from finance leases $ 49 $ 59 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,391 $ - Weighted-average remaining lease term - finance leases (in years) 5.37 6.39 Weighted average remaining lease term - operating leases (in years) 21.73 20.48 Weighted-average discount rate - finance leases 2.52 % 1.70 % Weighted-average discount rate - operating leases 3.95 % 3.39 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 511 2025 662 2026 669 2027 679 2028 689 2029 and thereafter 12,219 Total future minimum lease payments 15,429 Less variable payment adjustment (172 ) Less amount representing interest (5,322 ) Present value of net future minimum lease payments $ 9,935 |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | (dollars in thousands) Amount 2024 $ 43 2025 54 2026 54 2027 27 Total lease payments to be received $ 178 |
Lease Income [Table Text Block] | For the three months ended March 31, (dollars in thousands) 2024 2023 Lease income - direct finance leases Interest income on lease receivables $ 313 $ 320 Lease income - operating leases 8 12 Total lease income $ 321 $ 332 |
Note 12 - Derivative Instrume_2
Note 12 - Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Weighted Notional Average Maturity Interest Rate Interest Rate (dollars in thousands) Amount (Years) Paid Received Fair Value March 31, 2024 Classified in Other assets: Customer interest rate swaps $ 1,868 13.66 30 Day SOFR + Margin Fixed $ 210 Classified in Accrued interest payable and other liabilities: Third party interest rate swaps $ 1,868 13.66 Fixed 30 Day SOFR + Margin $ 210 Weighted Notional Average Maturity (dollars in thousands) Amount (Years) Fair Value March 31, 2024 Pay-fixed interest rate swap agreements - securities AFS $ 100,000 2.5 $ (647 ) |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 189,479 | $ 162,950 |
Other comprehensive (loss) income, net of tax | (1,447) | 8,214 |
Balance | 191,635 | 175,887 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Balance | (40,760) | (53,624) |
Other comprehensive loss before reclassifications, net of tax | (1,908) | 7,761 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 0 | 1 |
Other comprehensive (loss) income, net of tax | (1,908) | 7,762 |
Balance | (42,668) | (45,862) |
AOCI, Gain (Loss), Debt Securities, Securities Transferred To Held-to-maturity [Member] | ||
Balance | (15,707) | (17,528) |
Other comprehensive loss before reclassifications, net of tax | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 461 | 452 |
Other comprehensive (loss) income, net of tax | 461 | 452 |
Balance | (15,246) | (17,076) |
AOCI Attributable to Parent [Member] | ||
Balance | (56,467) | (71,152) |
Other comprehensive loss before reclassifications, net of tax | (1,908) | 7,761 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 461 | 453 |
Other comprehensive (loss) income, net of tax | (1,447) | 8,214 |
Balance | $ (57,914) | $ (62,938) |
Note 3 - Accumulated Other Co_4
Note 3 - Accumulated Other Comprehensive Income - Amount Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Gain (loss) on sale of investment securities | $ 0 | $ (1) |
Income before income taxes | 5,751 | 8,252 |
Provision for income taxes | 694 | 1,212 |
Net income | 5,057 | 7,040 |
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 | 0 | (1) |
Interest income on investment securities | (584) | (572) |
Income before income taxes | (584) | (573) |
Provision for income taxes | 123 | 120 |
Net income | $ (461) | $ (453) |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) $ in Thousands | Apr. 01, 2022 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Debt Securities, Available-for-Sale, 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 | $ 600 | $ 2,200 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 418 | 416 | |
Debt Securities, Available-for-sale, Amortized Cost, Transfer, Amount | $ 245,500 | ||
Debt Securities, Available-for-Sale, Amortized Cost, Net of Gain (Loss), Transfer | 221,700 | ||
Debt Securities, Available-for-Sale, Transfer to Held to Maturity, Gain (Loss) | $ 18,900 | ||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 0 | ||
Asset Pledged as Collateral [Member] | Deposits [Member] | |||
Debt Securities | 404,800 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Increase From Derivative Instruments | $ 300 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 237 | ||
US States and Political Subdivisions Debt Securities [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1344 | ||
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 | 0.1103 | ||
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 135 | ||
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Measurement Input, Loss Severity [Member] | |||
Debt Securities, Available-for-Sale, Measurement Input | 0.1545 | ||
Accrued Interest Receivable [Member] | |||
Interest Receivable, Investment Securities | $ 3,000 | $ 3,400 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Held-to-maturity securities (fair value of $193,973 in 2024; $197,176 in 2023) | $ 224,612 | $ 224,233 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (30,639) | (27,057) |
Held to maturity securities, fair value | 193,973 | 197,176 |
Available for sale securities, amortized cost | 388,415 | 395,635 |
Available for sale debt securities, gross unrealized gains | 0 | 1 |
Available for sale securities, gross unrealized losses | (54,011) | (51,596) |
Available for sale debt security, fair value | 334,404 | 344,040 |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity securities (fair value of $193,973 in 2024; $197,176 in 2023) | 81,656 | 81,382 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (8,682) | (7,561) |
Held to maturity securities, fair value | 72,974 | 73,821 |
Available for sale securities, amortized cost | 31,201 | 31,178 |
Available for sale debt securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (3,770) | (3,633) |
Available for sale debt security, fair value | 27,431 | 27,545 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held-to-maturity securities (fair value of $193,973 in 2024; $197,176 in 2023) | 142,956 | 142,851 |
Held to maturity securities, gross unrealized gains | 0 | 0 |
Held to maturity securities, gross unrealized losses | (21,957) | (19,496) |
Held to maturity securities, fair value | 120,999 | 123,355 |
Available for sale securities, amortized cost | 137,025 | 138,217 |
Available for sale debt securities, gross unrealized gains | 0 | 1 |
Available for sale securities, gross unrealized losses | (15,953) | (15,421) |
Available for sale debt security, fair value | 121,072 | 122,797 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Available for sale securities, amortized cost | 220,189 | 226,240 |
Available for sale debt securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (34,288) | (32,542) |
Available for sale debt security, fair value | $ 185,901 | $ 193,698 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Summary of Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Due in one year or less | $ 0 | |
Due in one year or less | 0 | |
Due after one year through five years | 29,242 | |
Due after one year through five years | 27,031 | |
Due after five years through ten years | 72,477 | |
Due after five years through ten years | 63,523 | |
Due after ten years | 122,893 | |
Due after ten years | 103,419 | |
Total held-to-maturity securities | 224,612 | |
Total held-to-maturity securities | 193,973 | |
Due in one year or less | 2,748 | |
Due in one year or less | 2,666 | |
Due after one year through five years | 30,408 | |
Due after one year through five years | 27,307 | |
Due after five years through ten years | 24,939 | |
Due after five years through ten years | 21,109 | |
Due after ten years | 109,807 | |
Due after ten years | 97,421 | |
MBS - GSE residential, amortized cost | 220,189 | |
MBS - GSE residential, fair value | 185,901 | |
Total available-for-sale debt securities | 388,091 | |
Total available-for-sale debt securities, fair value | $ 334,404 | $ 344,040 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Continuous Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Unrealized loss position, fair value, less than 12 months | $ 1,611 | $ 781 |
Unrealized loss position, unrealized losses, less than 12 months | (35) | (22) |
Unrealized loss position, fair value, more than 12 months | 526,766 | 539,288 |
Unrealized loss position, unrealized losses, more than 12 months | (83,967) | (76,470) |
Unrealized loss position, fair value | 528,377 | 540,069 |
Unrealized loss position, unrealized losses | $ (84,002) | $ (76,492) |
Number of securities, less than 12 months | 3 | 2 |
Number of securities, more than 12 months | 415 | 414 |
Number of securities | 418 | 416 |
US Government Agencies Debt Securities [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 0 | $ 0 |
Unrealized loss position, unrealized losses, less than 12 months | 0 | 0 |
Unrealized loss position, fair value, more than 12 months | 100,405 | 101,366 |
Unrealized loss position, unrealized losses, more than 12 months | (12,452) | (11,194) |
Unrealized loss position, fair value | 100,405 | 101,366 |
Unrealized loss position, unrealized losses | $ (12,452) | (11,194) |
Number of securities | 46 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 1,611 | 781 |
Unrealized loss position, unrealized losses, less than 12 months | (35) | (22) |
Unrealized loss position, fair value, more than 12 months | 240,460 | 244,224 |
Unrealized loss position, unrealized losses, more than 12 months | (37,551) | (33,814) |
Unrealized loss position, fair value | 242,071 | 245,005 |
Unrealized loss position, unrealized losses | $ (37,586) | (33,836) |
Number of securities | 237 | |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Unrealized loss position, fair value, less than 12 months | $ 0 | 0 |
Unrealized loss position, unrealized losses, less than 12 months | 0 | 0 |
Unrealized loss position, fair value, more than 12 months | 185,901 | 193,698 |
Unrealized loss position, unrealized losses, more than 12 months | (33,964) | (31,462) |
Unrealized loss position, fair value | 185,901 | 193,698 |
Unrealized loss position, unrealized losses | $ (33,964) | $ (31,462) |
Number of securities | 135 |
Note 5 - Loans and Leases (Deta
Note 5 - Loans and Leases (Details Textual) Pure in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 USD ($) | Mar. 31, 2023 | Dec. 31, 2023 USD ($) | |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 6,400 | $ 5,700 | |
Loan, Managed and Securitized or Asset-Backed Financing Arrangement, Principal Outstanding | 479,300 | 477,700 | |
Servicing Asset | $ 1,400 | 1,500 | |
Financing Receivables, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (6,015) | (6,468) | |
Financing Receivable, Unamortized Loan Cost (Fee) | 4,966 | 4,930 | |
Direct Financing Lease, Net Investment in Lease, before Allowance for Credit Loss | 5,800 | 6,100 | |
Direct Financing Lease, Residual Value of Leased Asset | 24,200 | 25,100 | |
Deferred Costs, Leasing, Net | 478 | ||
Direct Financing Lease [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Unamortized Purchase Premium (Discount) | $ 2,100 | $ 2,000 |
Note 5 - Loans and Leases - Cla
Note 5 - Loans and Leases - Classifications of Loans and Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Notes receivable, gross | $ 1,699,107 | $ 1,687,137 | ||
Allowance for credit losses on loans | (18,886) | (18,806) | $ (17,910) | $ (17,149) |
Unearned lease revenue | (2,079) | (2,039) | ||
Loans and leases, net | 1,678,142 | 1,666,292 | ||
Commercial Portfolio Segment [Member] | ||||
Allowance for credit losses on loans | (1,904) | (1,850) | (2,550) | (2,924) |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||||
Notes receivable, gross | 152,953 | 152,640 | ||
Commercial Portfolio Segment [Member] | Municipal [Member] | ||||
Notes receivable, gross | 113,058 | 94,724 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Allowance for credit losses on loans | (8,824) | (8,835) | (8,157) | (7,162) |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||||
Notes receivable, gross | 305,962 | 311,565 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||||
Notes receivable, gross | 299,394 | 304,399 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Notes receivable, gross | 48,473 | 39,823 | ||
Consumer Portfolio Segment [Member] | ||||
Allowance for credit losses on loans | (2,263) | (2,391) | (2,448) | (2,827) |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Notes receivable, gross | 55,626 | 56,640 | ||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||||
Notes receivable, gross | 52,564 | 52,348 | ||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||||
Notes receivable, gross | 10,980 | 10,756 | ||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||||
Notes receivable, gross | 102,622 | 112,595 | ||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||||
Notes receivable, gross | 32,544 | 33,601 | ||
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||||
Notes receivable, gross | 16,045 | 16,500 | ||
Residential Portfolio Segment [Member] | ||||
Allowance for credit losses on loans | (5,846) | (5,694) | $ (4,683) | $ (4,169) |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||
Notes receivable, gross | 33,174 | 36,536 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Notes receivable, gross | $ 475,712 | $ 465,010 |
Note 5 - Loans and Leases - Una
Note 5 - Loans and Leases - Unamortized Nets Costs and Premiums Included in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Unamortized Purchase Premium (Discount) | $ (6,015) | $ (6,468) |
Financing Receivable, Unamortized Loan Cost (Fee) | 4,966 | 4,930 |
Total | $ (1,049) | $ (1,538) |
Note 5 - Loans and Leases - Non
Note 5 - Loans and Leases - Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Nonaccrual with no allowance | $ 2,946 | $ 3,008 |
Nonaccrual with allowance | 611 | 300 |
Nonaccrual loans | 3,557 | 3,308 |
Loans Past Due and Still Accruing | 12 | 14 |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Nonaccrual with no allowance | 0 | 39 |
Nonaccrual with allowance | 55 | 16 |
Nonaccrual loans | 55 | 55 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | Municipal [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||
Nonaccrual with no allowance | 525 | 252 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 525 | 252 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||
Nonaccrual with no allowance | 1,578 | 2,040 |
Nonaccrual with allowance | 457 | 210 |
Nonaccrual loans | 2,035 | 2,250 |
Loans Past Due and Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual with no allowance | 0 | |
Nonaccrual with allowance | 0 | |
Nonaccrual loans | 0 | |
Loans Past Due and Still Accruing | 0 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Nonaccrual with no allowance | 79 | 70 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 79 | 70 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Nonaccrual with no allowance | 299 | 297 |
Nonaccrual with allowance | 67 | 67 |
Nonaccrual loans | 366 | 364 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||
Nonaccrual with no allowance | 27 | 32 |
Nonaccrual with allowance | 8 | 7 |
Nonaccrual loans | 35 | 39 |
Loans Past Due and Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Loans Past Due and Still Accruing | 12 | 14 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 24 | 0 |
Nonaccrual loans | 24 | 0 |
Loans Past Due and Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Nonaccrual with no allowance | 438 | 278 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual loans | 438 | 278 |
Loans Past Due and Still Accruing | $ 0 | $ 0 |
Note 5 - Loans and Leases - Tro
Note 5 - Loans and Leases - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Modification percent | ||
Principal Forgiveness [Member] | ||
Modification amount | $ 0 | $ 0 |
Payment Deferral [Member] | ||
Modification amount | 0 | 0 |
Extended Maturity [Member] | ||
Modification amount | 7,382 | 65 |
Contractual Interest Rate Reduction [Member] | ||
Modification amount | 0 | 3,261 |
Extended Maturity and Principal Forgiveness [Member] | ||
Modification amount | 0 | 0 |
Extended Maturity and Interest Rate Reduction [Member] | ||
Modification amount | 0 | 0 |
Financial Asset, Not Past Due [Member] | ||
Modification amount | 9,055 | 3,326 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modification amount | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modification amount | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modification amount | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Modification amount | $ 0 | $ 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Modification percent | 0.28% | 1.07% |
Principal Forgiveness | $ 0 | $ 0 |
Weighted-Average Interest Rate Reduction | 0% | 6.13% |
Weighted-Average Term Extension (Month) | 3 months | 6 months |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Principal Forgiveness [Member] | ||
Modification amount | $ 0 | $ 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||
Modification amount | 0 | 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Modification amount | 849 | 65 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Modification amount | 0 | 3,261 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Principal Forgiveness [Member] | ||
Modification amount | 0 | 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction [Member] | ||
Modification amount | 0 | 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Modification amount | 849 | 3,326 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modification amount | 0 | 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modification amount | 0 | 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modification amount | 0 | 0 |
Non-owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Modification amount | 0 | $ 0 |
Commercial [Member] | Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Modification amount | 15 | |
Commercial [Member] | Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modification amount | 0 | |
Commercial [Member] | Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modification amount | 0 | |
Commercial [Member] | Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modification amount | 0 | |
Commercial [Member] | Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Modification amount | $ 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Modification percent | 2.18% | |
Principal Forgiveness | $ 0 | |
Weighted-Average Interest Rate Reduction | 0% | |
Weighted-Average Term Extension (Month) | 5 months | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Principal Forgiveness [Member] | ||
Modification amount | $ 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Modification amount | 6,533 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Principal Forgiveness [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Modification amount | 8,191 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Modification amount | 0 | |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Modification amount | $ 0 |
Note 5 - Loans and Leases - Pas
Note 5 - Loans and Leases - Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |||
Loans, gross | $ 1,697,028 | [1] | $ 1,685,098 | [2] | |
Loans Past Due and Still Accruing | 12 | 14 | |||
Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 152,953 | [1] | 152,640 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 113,058 | [1] | 94,724 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 305,962 | [1] | 311,565 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 299,394 | [1] | 304,399 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 48,473 | [1] | 39,823 | [2] | |
Loans Past Due and Still Accruing | 0 | ||||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 55,626 | [1] | 56,640 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 52,564 | [1] | 52,348 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 10,980 | [1] | 10,756 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 102,622 | [1] | 112,595 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | [1],[3] | 30,465 | |||
Loans Past Due and Still Accruing | 12 | ||||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 30,465 | [3] | 31,562 | [2],[4] | |
Loans Past Due and Still Accruing | 12 | 14 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 16,045 | [1] | 16,500 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 33,174 | [1] | 36,536 | [2] | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | 475,712 | [1] | 465,010 | [2] | |
Loans Past Due and Still Accruing | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | |||||
Loans, gross | 1,364 | 3,325 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 145 | 77 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 0 | 0 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 0 | 85 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 72 | 1,875 | |||
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 | 164 | 105 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 89 | 60 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 46 | 86 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 519 | 417 | |||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 211 | ||||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 548 | ||||
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 118 | 30 | |||
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 | 0 | 42 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | |||||
Loans, gross | 807 | 1,162 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 0 | 16 | |||
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 | 285 | 65 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 70 | 104 | |||
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 | 0 | 150 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 0 | 92 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 0 | 1 | |||
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 13 | 48 | |||
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 | 9 | 4 | |||
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 | 430 | 682 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Loans, gross | [5] | 3,569 | 3,322 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | [5] | 55 | 55 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | [5] | 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 | [5] | 525 | 252 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | [5] | 2,035 | 2,250 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | [5] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | [5] | 79 | 70 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | [5] | 366 | 364 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | [5] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | [5] | 35 | 39 | ||
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 | [5] | 12 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | [5] | 14 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | [5] | 24 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | [5] | 0 | 0 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | [5] | 438 | 278 | ||
Financial Asset, Past Due [Member] | |||||
Loans, gross | 5,740 | 7,809 | |||
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 200 | 148 | |||
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 | 810 | 402 | |||
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 2,177 | 4,229 | |||
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 | 243 | 325 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 455 | 516 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 46 | 87 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 567 | 504 | |||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 223 | ||||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 562 | ||||
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 151 | 34 | |||
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 | 868 | 1,002 | |||
Financial Asset, Not Past Due [Member] | |||||
Loans, gross | 1,691,288 | 1,677,289 | |||
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Loans, gross | 152,753 | 152,492 | |||
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Loans, gross | 113,058 | 94,724 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Loans, gross | 305,152 | 311,163 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Loans, gross | 297,217 | 300,170 | |||
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 48,473 | 39,823 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans, gross | 55,383 | 56,315 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Loans, gross | 52,109 | 51,832 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Loans, gross | 10,934 | 10,669 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Loans, gross | 102,055 | 112,091 | |||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease Net of Unearned Lease Revenue [Member] | |||||
Loans, gross | 30,242 | ||||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Loans, gross | 31,000 | ||||
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Loans, gross | 15,894 | 16,466 | |||
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans, gross | 33,174 | 36,536 | |||
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Loans, gross | $ 474,844 | $ 464,008 | |||
[1]Includes net deferred loan costs of $5.0 million.[2]Includes net deferred loan costs of $4.9 million.[3]Net of unearned lease revenue of $2.1 million.[4]Net of unearned lease revenue of $2.0 million.[5]Includes non-accrual loans. |
Note 5 - Loans and Leases - Cre
Note 5 - Loans and Leases - Credit Risk Profile (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |||
Notes receivable, gross | $ 1,697,028 | [1] | $ 1,685,098 | [2] | |
Current period gross write-offs | 226 | $ 303 | |||
Commercial Portfolio Segment [Member] | |||||
Current period gross write-offs | 114 | 170 | |||
Commercial Portfolio Segment [Member] | Commercial [Member] | |||||
Current year | 5,443 | 30,328 | |||
Year two | 29,235 | 19,712 | |||
Year three | 18,714 | 23,124 | |||
Year four | 21,990 | 4,868 | |||
Year five | 4,995 | 6,975 | |||
Prior | 19,309 | 12,535 | |||
Revolving loans | 53,267 | 55,098 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 152,953 | [1] | 152,640 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 300 | |||
Current period gross write-offs, year four | 30 | 20 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 84 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 114 | 320 | |||
Commercial Portfolio Segment [Member] | Municipal [Member] | |||||
Current year | 16,861 | 27,016 | |||
Year two | 26,778 | 13,933 | |||
Year three | 15,758 | 21,241 | |||
Year four | 21,783 | 13,137 | |||
Year five | 12,996 | 1,445 | |||
Prior | 18,882 | 17,952 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 113,058 | [1] | 94,724 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial [Member] | |||||
Current year | 5,443 | 30,328 | |||
Year two | 29,235 | 19,115 | |||
Year three | 18,316 | 22,820 | |||
Year four | 15,459 | 4,848 | |||
Year five | 4,978 | 6,922 | |||
Prior | 18,956 | 12,156 | |||
Revolving loans | 52,436 | 53,758 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 144,823 | 149,947 | |||
Commercial Portfolio Segment [Member] | Pass [Member] | Municipal [Member] | |||||
Current year | 16,861 | 27,016 | |||
Year two | 26,778 | 13,933 | |||
Year three | 15,758 | 21,241 | |||
Year four | 21,783 | 13,137 | |||
Year five | 12,996 | 1,445 | |||
Prior | 18,882 | 17,952 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 113,058 | 94,724 | |||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 597 | |||
Year three | 139 | 288 | |||
Year four | 193 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 55 | |||
Revolving loans | 0 | 30 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 332 | 970 | |||
Commercial Portfolio Segment [Member] | Special Mention [Member] | Municipal [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 259 | 16 | |||
Year four | 6,338 | 20 | |||
Year five | 17 | 53 | |||
Prior | 353 | 324 | |||
Revolving loans | 831 | 1,310 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 7,798 | 1,723 | |||
Commercial Portfolio Segment [Member] | Substandard [Member] | Municipal [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Commercial [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Municipal [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Consumer Portfolio Segment [Member] | |||||
Current period gross write-offs | 107 | 101 | |||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Current year | 1,416 | 8,581 | |||
Year two | 8,372 | 17,890 | |||
Year three | 17,214 | 9,487 | |||
Year four | 9,081 | 7,988 | |||
Year five | 7,501 | 3,832 | |||
Prior | 12,042 | 8,862 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 55,626 | [1] | 56,640 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 26 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 26 | |||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Performing Financial Instruments [Member] | |||||
Current year | 1,416 | 8,581 | |||
Year two | 8,372 | 17,890 | |||
Year three | 17,214 | 9,487 | |||
Year four | 9,081 | 7,988 | |||
Year five | 7,501 | 3,832 | |||
Prior | 11,963 | 8,792 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 55,547 | 56,570 | |||
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Nonperforming Financial Instruments [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 79 | 70 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 79 | 70 | |||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 41,863 | 41,303 | |||
Revolving loans converted to term | 10,701 | 11,045 | |||
Notes receivable, gross | 52,564 | [1] | 52,348 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Performing Financial Instruments [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 41,497 | 40,939 | |||
Revolving loans converted to term | 10,701 | 11,045 | |||
Notes receivable, gross | 52,198 | 51,984 | |||
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Nonperforming Financial Instruments [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 366 | 364 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 366 | 364 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Recourse [Member] | |||||
Current year | 1,236 | 3,120 | |||
Year two | 3,029 | 1,957 | |||
Year three | 1,779 | 2,834 | |||
Year four | 2,540 | 1,926 | |||
Year five | 1,678 | 765 | |||
Prior | 718 | 154 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 10,980 | [1] | 10,756 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | |||||
Current year | 1,375 | 39,673 | |||
Year two | 36,683 | 42,059 | |||
Year three | 38,453 | 17,317 | |||
Year four | 15,461 | 8,179 | |||
Year five | 6,823 | 3,999 | |||
Prior | 3,827 | 1,368 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 102,622 | [1] | 112,595 | [2] | |
Current period gross write-offs, current year | 0 | 3 | |||
Current period gross write-offs, year two | 15 | 7 | |||
Current period gross write-offs, year three | 29 | 105 | |||
Current period gross write-offs, year four | 6 | 36 | |||
Current period gross write-offs, year five | 3 | 15 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 53 | 166 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | Recourse [Member] | |||||
Current year | 1,236 | 3,120 | |||
Year two | 3,029 | 1,957 | |||
Year three | 1,779 | 2,834 | |||
Year four | 2,540 | 1,926 | |||
Year five | 1,678 | 765 | |||
Prior | 718 | 154 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 10,980 | 10,756 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | Nonrecourse [Member] | |||||
Current year | 1,375 | 39,673 | |||
Year two | 36,683 | 42,059 | |||
Year three | 38,441 | 17,314 | |||
Year four | 15,457 | 8,162 | |||
Year five | 6,823 | 3,999 | |||
Prior | 3,808 | 1,349 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 102,587 | 112,556 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | Recourse [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | Nonrecourse [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 12 | 3 | |||
Year four | 4 | 17 | |||
Year five | 0 | 0 | |||
Prior | 19 | 19 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 35 | 39 | |||
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | |||||
Current year | 2,852 | [3] | 11,569 | [4] | |
Year two | 10,252 | [3] | 10,728 | [4] | |
Year three | 9,776 | [3] | 7,522 | [4] | |
Year four | 6,580 | [3] | 1,660 | [4] | |
Year five | 935 | [3] | 83 | [4] | |
Prior | 70 | [3] | 0 | [4] | |
Revolving loans | 0 | [3] | 0 | [4] | |
Revolving loans converted to term | 0 | [3] | 0 | [4] | |
Notes receivable, gross | 30,465 | [3] | 31,562 | [2],[4] | |
Current period gross write-offs, current year | 0 | [3] | 0 | [4] | |
Current period gross write-offs, year two | 0 | [3] | 0 | [4] | |
Current period gross write-offs, year three | 0 | [3] | 0 | [4] | |
Current period gross write-offs, year four | 0 | [3] | 0 | [4] | |
Current period gross write-offs, year five | 0 | [3] | 0 | [4] | |
Current period gross write-offs, prior | 0 | [3] | 0 | [4] | |
Current period gross write-offs, revolving | 0 | [3] | 0 | [4] | |
Current period gross write-offs, revolving converted to term | 0 | [3] | 0 | [4] | |
Current period gross write-offs | 0 | [3] | 0 | [4] | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Performing Financial Instruments [Member] | |||||
Current year | 2,852 | [3] | 11,569 | [4] | |
Year two | 10,252 | [3] | 10,728 | [4] | |
Year three | 9,776 | [3] | 7,508 | [4] | |
Year four | 6,568 | [3] | 1,660 | [4] | |
Year five | 935 | [3] | 83 | [4] | |
Prior | 70 | [3] | 0 | [4] | |
Revolving loans | 0 | [3] | 0 | [4] | |
Revolving loans converted to term | 0 | [3] | 0 | [4] | |
Notes receivable, gross | 30,453 | [3] | 31,548 | [4] | |
Consumer Portfolio Segment [Member] | Direct Financing Lease [Member] | Nonperforming Financial Instruments [Member] | |||||
Current year | 0 | [3] | 0 | [4] | |
Year two | 0 | [3] | 0 | [4] | |
Year three | 0 | [3] | 14 | [4] | |
Year four | 12 | [3] | 0 | [4] | |
Year five | 0 | [3] | 0 | [4] | |
Prior | 0 | [3] | 0 | [4] | |
Revolving loans | 0 | [3] | 0 | [4] | |
Revolving loans converted to term | 0 | [3] | 0 | [4] | |
Notes receivable, gross | 12 | [3] | 14 | [4] | |
Consumer Portfolio Segment [Member] | Other Loan [Member] | |||||
Current year | 1,422 | 8,127 | |||
Year two | 7,244 | 3,266 | |||
Year three | 2,791 | 1,963 | |||
Year four | 1,770 | 705 | |||
Year five | 592 | 368 | |||
Prior | 898 | 762 | |||
Revolving loans | 1,328 | 1,309 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 16,045 | [1] | 16,500 | [2] | |
Current period gross write-offs, current year | 1 | 125 | |||
Current period gross write-offs, year two | 15 | 77 | |||
Current period gross write-offs, year three | 10 | 16 | |||
Current period gross write-offs, year four | 10 | 7 | |||
Current period gross write-offs, year five | 2 | 17 | |||
Current period gross write-offs, prior | 16 | 29 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 54 | 271 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | Performing Financial Instruments [Member] | |||||
Current year | 1,422 | 8,127 | |||
Year two | 7,244 | 3,266 | |||
Year three | 2,767 | 1,963 | |||
Year four | 1,770 | 705 | |||
Year five | 592 | 368 | |||
Prior | 898 | 762 | |||
Revolving loans | 1,328 | 1,309 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 16,021 | 16,500 | |||
Consumer Portfolio Segment [Member] | Other Loan [Member] | Nonperforming Financial Instruments [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 24 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 24 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Current period gross write-offs | 5 | 32 | |||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | |||||
Current year | 3,814 | 34,103 | |||
Year two | 33,675 | 37,573 | |||
Year three | 38,013 | 73,316 | |||
Year four | 70,694 | 43,125 | |||
Year five | 42,037 | 17,956 | |||
Prior | 110,460 | 98,713 | |||
Revolving loans | 7,269 | 6,779 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 305,962 | [1] | 311,565 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 32 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 32 | |||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | |||||
Current year | 1,922 | 29,429 | |||
Year two | 29,866 | 66,360 | |||
Year three | 65,299 | 48,173 | |||
Year four | 46,277 | 29,937 | |||
Year five | 29,203 | 24,636 | |||
Prior | 115,436 | 95,414 | |||
Revolving loans | 11,391 | 10,450 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 299,394 | [1] | 304,399 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 5 | 59 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 5 | 59 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Current year | 4,846 | 15,075 | |||
Year two | 21,758 | 17,358 | |||
Year three | 17,216 | 852 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 3,689 | 3,739 | |||
Revolving loans | 964 | 2,799 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 48,473 | [1] | 39,823 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Non-owner Occupied [Member] | |||||
Current year | 3,814 | 34,103 | |||
Year two | 33,675 | 37,508 | |||
Year three | 38,013 | 71,209 | |||
Year four | 70,006 | 42,692 | |||
Year five | 41,912 | 17,390 | |||
Prior | 102,540 | 89,860 | |||
Revolving loans | 7,269 | 6,779 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 297,229 | 299,541 | |||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied [Member] | |||||
Current year | 1,922 | 29,429 | |||
Year two | 29,866 | 59,132 | |||
Year three | 58,559 | 47,240 | |||
Year four | 45,279 | 29,377 | |||
Year five | 28,676 | 24,636 | |||
Prior | 104,280 | 84,423 | |||
Revolving loans | 10,805 | 9,731 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 279,387 | 283,968 | |||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | |||||
Current year | 4,846 | 15,075 | |||
Year two | 21,758 | 17,358 | |||
Year three | 17,216 | 852 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 3,689 | 3,739 | |||
Revolving loans | 964 | 2,799 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 48,473 | 39,823 | |||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Non-owner Occupied [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 1,044 | |||
Year four | 0 | 304 | |||
Year five | 0 | 0 | |||
Prior | 0 | 1,375 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 2,723 | |||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 199 | |||
Year three | 0 | 554 | |||
Year four | 486 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 125 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 486 | 878 | |||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Non-owner Occupied [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 65 | |||
Year three | 0 | 1,063 | |||
Year four | 688 | 129 | |||
Year five | 125 | 566 | |||
Prior | 7,920 | 7,478 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 8,733 | 9,301 | |||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied [Member] | |||||
Current year | |||||
Year two | 0 | 7,029 | |||
Year three | 6,740 | 379 | |||
Year four | 512 | 560 | |||
Year five | 527 | 0 | |||
Prior | 11,156 | 10,991 | |||
Revolving loans | 586 | 594 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 19,521 | 19,553 | |||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Non-owner Occupied [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Owner Occupied [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Residential Portfolio Segment [Member] | |||||
Current period gross write-offs | 0 | $ 0 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Current year | 2,212 | 10,733 | |||
Year two | 12,642 | 13,084 | |||
Year three | 8,601 | 9,267 | |||
Year four | 6,420 | 2,675 | |||
Year five | 2,665 | 343 | |||
Prior | 634 | 434 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 33,174 | [1] | 36,536 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 0 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Performing Financial Instruments [Member] | |||||
Current year | 2,212 | 10,733 | |||
Year two | 12,642 | 13,084 | |||
Year three | 8,601 | 9,267 | |||
Year four | 6,420 | 2,675 | |||
Year five | 2,665 | 343 | |||
Prior | 634 | 434 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 33,174 | 36,536 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | Nonperforming Financial Instruments [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 0 | 0 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Current year | 9,706 | 53,604 | |||
Year two | 52,897 | 80,516 | |||
Year three | 84,935 | 137,620 | |||
Year four | 139,372 | 51,710 | |||
Year five | 51,022 | 29,859 | |||
Prior | 137,780 | 111,701 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 475,712 | [1] | 465,010 | [2] | |
Current period gross write-offs, current year | 0 | 0 | |||
Current period gross write-offs, year two | 0 | 0 | |||
Current period gross write-offs, year three | 0 | 0 | |||
Current period gross write-offs, year four | 0 | 0 | |||
Current period gross write-offs, year five | 0 | 0 | |||
Current period gross write-offs, prior | 0 | 0 | |||
Current period gross write-offs, revolving | 0 | 0 | |||
Current period gross write-offs, revolving converted to term | 0 | 0 | |||
Current period gross write-offs | 0 | 0 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | |||||
Current year | 9,706 | 53,604 | |||
Year two | 52,897 | 80,516 | |||
Year three | 84,935 | 137,620 | |||
Year four | 139,372 | 51,710 | |||
Year five | 51,022 | 29,859 | |||
Prior | 137,342 | 111,423 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | 475,274 | 464,732 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | |||||
Current year | 0 | 0 | |||
Year two | 0 | 0 | |||
Year three | 0 | 0 | |||
Year four | 0 | 0 | |||
Year five | 0 | 0 | |||
Prior | 438 | 278 | |||
Revolving loans | 0 | 0 | |||
Revolving loans converted to term | 0 | 0 | |||
Notes receivable, gross | $ 438 | $ 278 | |||
[1]Includes net deferred loan costs of $5.0 million.[2]Includes net deferred loan costs of $4.9 million.[3]Net of unearned lease revenue of $2.1 million.[4]Net of unearned lease revenue of $2.0 million. |
Note 5 - Loans and Leases - Col
Note 5 - Loans and Leases - Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Notes receivable, gross | $ 1,699,107 | $ 1,687,137 |
Real Estate [Member] | ||
Notes receivable, gross | 3,467 | 3,214 |
Other Collateral [Member] | ||
Notes receivable, gross | 90 | 94 |
Collateral Pledged [Member] | ||
Notes receivable, gross | 3,557 | 3,308 |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Notes receivable, gross | 152,953 | 152,640 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Real Estate [Member] | ||
Notes receivable, gross | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 55 | 55 |
Commercial Portfolio Segment [Member] | Commercial [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 55 | 55 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | ||
Notes receivable, gross | 305,962 | 311,565 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Real Estate [Member] | ||
Notes receivable, gross | 525 | 252 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 525 | 252 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | ||
Notes receivable, gross | 299,394 | 304,399 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Real Estate [Member] | ||
Notes receivable, gross | 2,035 | 2,250 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 2,035 | 2,250 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Notes receivable, gross | 55,626 | 56,640 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 79 | 70 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 79 | 70 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Notes receivable, gross | 52,564 | 52,348 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Real Estate [Member] | ||
Notes receivable, gross | 366 | 364 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Line of Credit [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 366 | 364 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 102,622 | 112,595 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Real Estate [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Other Collateral [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 35 | 39 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Collateral Pledged [Member] | Nonrecourse [Member] | ||
Notes receivable, gross | 35 | 39 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | ||
Notes receivable, gross | 16,045 | 16,500 |
Consumer Portfolio Segment [Member] | Other Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 24 | |
Consumer Portfolio Segment [Member] | Other Loan [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | |
Consumer Portfolio Segment [Member] | Other Loan [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | 24 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Notes receivable, gross | 475,712 | 465,010 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Real Estate [Member] | ||
Notes receivable, gross | 438 | 278 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Collateral [Member] | ||
Notes receivable, gross | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Collateral Pledged [Member] | ||
Notes receivable, gross | $ 438 | $ 278 |
Note 5 - Loans and Leases - Cha
Note 5 - Loans and Leases - Change in Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Beginning balance | $ 18,806 | $ 17,149 | $ 17,149 |
Charge-offs | (226) | (303) | |
Recoveries | 181 | 140 | |
Provision for credit losses on loans | 125 | 180 | |
Ending balance | 18,886 | 17,910 | 18,806 |
Initial allowance on loans purchased with credit deterioration | 126 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance | 618 | 618 | |
Commercial Portfolio Segment [Member] | |||
Beginning balance | 1,850 | 2,924 | 2,924 |
Charge-offs | (114) | (170) | |
Recoveries | 2 | 20 | |
Provision for credit losses on loans | 166 | (502) | |
Ending balance | 1,904 | 2,550 | 1,850 |
Initial allowance on loans purchased with credit deterioration | 0 | ||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance | 278 | 278 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Beginning balance | 8,835 | 7,162 | 7,162 |
Charge-offs | (5) | (32) | |
Recoveries | 155 | 39 | |
Provision for credit losses on loans | (161) | 106 | |
Ending balance | 8,824 | 8,157 | 8,835 |
Initial allowance on loans purchased with credit deterioration | 126 | ||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance | 756 | 756 | |
Consumer Portfolio Segment [Member] | |||
Beginning balance | 2,391 | 2,827 | 2,827 |
Charge-offs | (107) | (101) | |
Recoveries | 22 | 72 | |
Provision for credit losses on loans | (43) | 197 | |
Ending balance | 2,263 | 2,448 | 2,391 |
Initial allowance on loans purchased with credit deterioration | 0 | ||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance | (547) | (547) | |
Residential Portfolio Segment [Member] | |||
Beginning balance | 5,694 | 4,169 | 4,169 |
Charge-offs | 0 | 0 | |
Recoveries | 2 | 9 | |
Provision for credit losses on loans | 150 | 307 | |
Ending balance | 5,846 | 4,683 | 5,694 |
Initial allowance on loans purchased with credit deterioration | 0 | ||
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance | 198 | 198 | |
Unallocated Financing Receivables [Member] | |||
Beginning balance | 36 | 67 | 67 |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision for credit losses on loans | 13 | 72 | |
Ending balance | $ 49 | 72 | 36 |
Initial allowance on loans purchased with credit deterioration | 0 | ||
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance | $ (67) | $ (67) |
Note 5 - Loans and Leases - C_2
Note 5 - Loans and Leases - Credit Loss on Unfunded Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Beginning balance | $ 944 | $ 49 |
Provision (benefit) for credit losses | (50) | 225 |
Ending balance | 894 | 1,334 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | $ 0 | $ 1,060 |
Note 5 - Loans and Leases - Und
Note 5 - Loans and Leases - Undiscounted Cash Flows for Direct Finance Leases (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
2024 | $ 10,128 |
2025 | 13,162 |
2026 | 6,410 |
2027 | 2,271 |
2028 | 95 |
2029 and thereafter | 0 |
Total future minimum lease payments receivable | 32,066 |
Less: Unearned income | (2,079) |
Undiscounted cash flows to be received | $ 29,987 |
Note 6 - Earnings Per Share (De
Note 6 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 39,389 | 42,480 |
Stock Settled Stock Appreciation Rights SSARs [Member] | ||
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 9,199 | 20,188 |
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) | 30,190 | 22,292 |
Note 6 - Earnings Per Share - C
Note 6 - Earnings Per Share - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income available to common shareholders | $ 5,057 | $ 7,040 |
Weighted-average common shares outstanding (in shares) | 5,722,232 | 5,649,623 |
Basic EPS (in dollars per share) | $ 0.88 | $ 1.25 |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) | 39,389 | 42,480 |
Weighted-average common and potentially dilutive shares outstanding (in shares) | 5,761,621 | 5,692,103 |
Diluted EPS (in dollars per share) | $ 0.88 | $ 1.24 |
Note 7 - Stock Plans (Details T
Note 7 - Stock Plans (Details Textual) - $ / shares $ / shares in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2015 | Dec. 31, 2023 | |
Common Stock, No Par Value (in dollars per share) | $ 0 | $ 0 | ||
Stock Settled Stock Appreciation Rights SSARs [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised (in shares) | 0 | 0 | ||
The 2022 Stock Incentive Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 500,000 | |||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Vesting Each Year [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33% | |||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Award Date Three [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year | |||
The 2022 Stock Incentive Plan [Member] | Restricted Stock [Member] | Award Date Two [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |||
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) | 12,429 | 17,684 | ||
The 2002 Employee Stock Purchase Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 165,000 | |||
Shares, Issued (in shares) | 108,591 |
Note 7 - Stock Plans - Summary
Note 7 - Stock Plans - Summary of Weighted Average Fair Value and Vesting of Restricted Stock Grants (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | ||||
Granted, awards (in shares) | 22,479 | 35,734 | |||
Granted, weighted average grant date fair value (in dollars per share) | $ 46.96 | $ 49.43 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date One [Member] | |||||
Granted, awards (in shares) | [1] | 10,000 | 18,000 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 46.96 | $ 49.43 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Two [Member] | |||||
Granted, awards (in shares) | 1,558 | [1] | 17,684 | [2] | |
Granted, weighted average grant date fair value (in dollars per share) | $ 46.96 | $ 49.43 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Three [Member] | |||||
Granted, awards (in shares) | 10,871 | [2] | 50 | [3] | |
Granted, weighted average grant date fair value (in dollars per share) | $ 46.96 | $ 49.43 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | Award Date Four [Member] | |||||
Granted, awards (in shares) | 50 | [3] | 0 | ||
Granted, weighted average grant date fair value (in dollars per share) | $ 46.96 | $ 0 | |||
[1]Vest after 3 years – 33% each year[2]Vest fully after 3 years[3]Vest after 1 year |
Note 7 - Stock Plans - Non-vest
Note 7 - Stock Plans - Non-vested Restricted Stock (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Non-vested balance (in shares) | 73,719 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 50.03 | |
Granted (in shares) | 22,479 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 46.96 | $ 49.43 |
Forfeited (in shares) | (372) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 49.48 | |
Vested (in shares) | (25,304) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 51.05 | |
Non-vested balance (in shares) | 70,522 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 48.69 | |
The 2012 Director Stock Incentive Plan [Member] | ||
Non-vested balance (in shares) | 12,519 | |
Granted (in shares) | 0 | |
Forfeited (in shares) | 0 | |
Vested (in shares) | (7,719) | |
Non-vested balance (in shares) | 4,800 | |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Non-vested balance (in shares) | 61,200 | |
Granted (in shares) | 22,479 | |
Forfeited (in shares) | (372) | |
Vested (in shares) | (17,585) | |
Non-vested balance (in shares) | 65,722 |
Note 7 - Stock Plans - Summar_2
Note 7 - Stock Plans - Summary of SSARs (Details) - Stock Settled Stock Appreciation Rights SSARs [Member] - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Outstanding, awards (in shares) | 64,326 | ||
Outstanding, weighted average grant date fair value (in dollars per share) | $ 11.59 | ||
Outstanding, weighted average remaining contractual term (Year) | 3 years 7 months 6 days | 3 years 9 months 18 days | |
Granted, awards (in shares) | 0 | ||
Granted, weighted average grant date fair value (in dollars per share) | |||
Exercised, awards (in shares) | 0 | 0 | |
Exercised, weighted average grant date fair value (in dollars per share) | |||
Forfeited, awards (in shares) | 0 | ||
Forfeited, weighted average grant date fair value (in dollars per share) | |||
Outstanding, awards (in shares) | 64,326 | 64,326 | |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 11.59 | $ 11.59 |
Note 7 - Stock Plans - Stock-ba
Note 7 - Stock Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Stock-based compensation expense | $ 459 | $ 445 |
The 2012 Director Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 79 | 114 |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 88 | 141 |
The 2022 Omnibus Stock Incentive Plan [Member] | ||
Stock-based compensation expense | 166 | 156 |
The 2002 Employee Stock Purchase Plan [Member] | ||
Stock-based compensation expense | $ 126 | $ 34 |
Note 7 - Stock Plans - Unrecogn
Note 7 - Stock Plans - Unrecognized Stock-based Compensation Expense (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Unrecognized stock-based compensation expense | $ 2,434 |
The 2012 Director Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | 210 |
The 2012 Omnibus Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | 216 |
The 2022 Omnibus Stock Incentive Plan [Member] | |
Unrecognized stock-based compensation expense | $ 2,008 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | $ 0 | $ 0 |
Other Repossessed Assets | $ 0 | $ 0 |
Measurement Input, Cost to Sell [Member] | Minimum [Member] | ||
Impaired Loans, Measurement Input | (0.2518) | (0.3147) |
Measurement Input, Cost to Sell [Member] | Maximum [Member] | ||
Impaired Loans, Measurement Input | (0.3402) | (0.3147) |
Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | ||
Impaired Loans, Measurement Input | 0.2729 | 0.3147 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Other Real Estate Owned, Measurement Input | (0.2923) | (0.776) |
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 | (0.2984) | (0.776) |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Total available-for-sale debt securities, fair value | $ 334,404 | $ 344,040 |
Loans held-for-sale | 277 | 1,483 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 72,733 | 111,949 |
Held-to-maturity securities | 224,612 | 224,233 |
Total available-for-sale debt securities, fair value | 334,404 | 344,040 |
Restricted investments in bank stock | 3,959 | 3,905 |
Loans and leases, net | 1,678,142 | 1,666,292 |
Loans held-for-sale | 271 | 1,457 |
Accrued interest receivable | 9,398 | 9,092 |
Interest rate swaps | 210 | 171 |
Short-term borrowings | 25,000 | 117,000 |
Secured borrowings | 7,299 | 7,372 |
Accrued interest payable | 2,369 | 3,042 |
Interest rate swaps | 857 | 2,332 |
Reported Value Measurement [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,946,488 | 1,945,456 |
Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 269,508 | 212,969 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 72,733 | 111,949 |
Held-to-maturity securities | 193,973 | 197,176 |
Total available-for-sale debt securities, fair value | 334,404 | 344,040 |
Restricted investments in bank stock | 3,959 | 3,905 |
Loans and leases, net | 1,529,828 | 1,532,195 |
Loans held-for-sale | 277 | 1,483 |
Accrued interest receivable | 9,398 | 9,092 |
Interest rate swaps | 210 | 171 |
Short-term borrowings | 25,000 | 117,010 |
Secured borrowings | 7,802 | 8,067 |
Accrued interest payable | 2,369 | 3,042 |
Interest rate swaps | 857 | 2,332 |
Estimate of Fair Value Measurement [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,946,488 | 1,945,456 |
Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 266,635 | 210,423 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 72,733 | 111,949 |
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 | 193,973 | 197,176 |
Total available-for-sale debt securities, fair value | 334,404 | 344,040 |
Restricted investments in bank stock | 3,959 | 3,905 |
Loans and leases, net | 0 | 0 |
Loans held-for-sale | 277 | 1,483 |
Accrued interest receivable | 9,398 | 9,092 |
Interest rate swaps | 210 | 171 |
Short-term borrowings | 25,000 | 117,010 |
Secured borrowings | 0 | 0 |
Accrued interest payable | 2,369 | 3,042 |
Interest rate swaps | 857 | 2,332 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 1,946,488 | 1,945,456 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member] | ||
Deposits | 266,635 | 210,423 |
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 | 1,529,828 | 1,532,195 |
Loans held-for-sale | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Short-term borrowings | 0 | 0 |
Secured borrowings | 7,802 | 8,067 |
Accrued interest payable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Deposits with No Stated Maturities [Member] | ||
Deposits | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Time Deposits [Member] | ||
Deposits | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_5
Note 8 - Fair Value Measurements - Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Available-for-sale securities | $ 334,404 | $ 344,040 |
Fair Value, Recurring [Member] | ||
Available-for-sale securities | 334,404 | 344,040 |
Total assets | 334,614 | 344,211 |
Total liabilities | 857 | 2,332 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 210 | 171 |
Interest rate swaps | 857 | 2,332 |
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 | 334,404 | 344,040 |
Total assets | 334,614 | 344,211 |
Total liabilities | 857 | 2,332 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Interest rate swaps | 210 | 171 |
Interest rate swaps | 857 | 2,332 |
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 | 27,431 | 27,545 |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 27,431 | 27,545 |
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 | 27,431 | 27,545 |
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 | 121,072 | 122,797 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 121,072 | 122,797 |
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 | 121,072 | 122,797 |
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 Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Available-for-sale securities | 185,901 | 193,698 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | ||
Available-for-sale securities | 185,901 | 193,698 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | 0 | 0 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 185,901 | 193,698 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_6
Note 8 - Fair Value Measurements - Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Total assets | $ 612 | $ 121 |
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 | 612 | 121 |
Impaired Loans [Member] | Valuation, Market Approach [Member] | ||
Total assets | 392 | 120 |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 0 | 0 |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 0 | 0 |
Impaired Loans [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 392 | 120 |
Other Real Estate Owned [Member] | ||
Total assets | 220 | 1 |
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 | $ 220 | $ 1 |
Note 9 - Employee Benefits (Det
Note 9 - Employee Benefits (Details Textual) $ in Thousands | 3 Months Ended | |||||
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Jul. 01, 2021 | Mar. 20, 2019 | Mar. 29, 2017 | |
Cash Surrender Value of Life Insurance | $ 54,900 | $ 54,600 | ||||
Proceeds from Life Insurance Policy | 0 | $ 931 | ||||
Return of Cash Surrender Value of Life Insurance | 800 | |||||
Gain From Bank-owned Life Insurance Claim | 0 | 142 | ||||
Bank Owned Life Insurance Income | 349 | $ 321 | ||||
Supplemental Employee Retirement Plan [Member] | ||||||
Defined Benefit Plan, Number of Individuals | 1 | 5 | ||||
Defined Benefit Plan, Benefit Obligation | 4,500 | 4,400 | ||||
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 to be Paid to Insured's Beneficiary | 54,900 | 8,800 | ||||
Split Dollar Life Insurance Arrangement, Death Benefit to be Paid to Company | $ 46,100 | |||||
Executive Officer [Member] | ||||||
Number of Individuals with Split Dollar Life Insurance Arrangement | 4 | |||||
Split Dollar Life Insurance Arrangement, Accrued Expense | $ 376 | $ 352 |
Note 10 - Revenue Recognition (
Note 10 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 | $ 0 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | |
Number of Properties Leased under Operating Lease | 10 | |
Lease, Cost | $ 274 | $ 296 |
Lessor, Number of Properties Under Long-Term Operating Leases | 1 | |
Premises and Equipment Expense [Member] | ||
Lease, Cost | $ 268 | 290 |
Other Expense [Member] | ||
Lease, Cost | $ 6 | $ 6 |
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 11 - Leases - Analysis of
Note 11 - Leases - Analysis of Leased Property Under Finance Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Property and equipment | $ 2,014 | $ 2,014 |
Less accumulated depreciation and amortization | (898) | (841) |
Leased property under finance leases, net | $ 1,116 | $ 1,173 |
Note 11 - Leases - Schedule of
Note 11 - Leases - Schedule of Future Minimum Lease Payments Under Finance Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
2024 | $ 187 | ||
2025 | 233 | ||
2026 | 222 | ||
2027 | 222 | ||
2028 | 199 | ||
2029 and thereafter | 162 | ||
Total minimum lease payments (a) | [1] | 1,225 | |
Less amount representing interest (b) | [2] | (74) | |
Present value of net minimum lease payments | $ 1,151 | $ 1,201 | |
[1]The future minimum lease payments have not been reduced by estimated executory costs (such as taxes and maintenance) since this amount was deemed immaterial by management.[2]Amount necessary to reduce net minimum lease payments to present value calculated at the Company’s incremental borrowing rate upon lease inception. |
Note 11 - Leases - Lease Cost (
Note 11 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Amortization of right-of-use assets | $ 57 | $ 60 |
Interest on lease liabilities | 7 | 5 |
Operating lease cost | 178 | 192 |
Short-term lease cost | 20 | 22 |
Variable lease cost | 12 | 17 |
Total lease cost | 274 | 296 |
Operating cash flows from finance leases | 7 | 5 |
Operating cash flows from operating leases (Fixed payments) | 175 | 176 |
Operating cash flows from operating leases (Liability reduction) | 97 | 94 |
Financing cash flows from finance leases | 49 | 59 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 1,391 | $ 0 |
Weighted-average remaining lease term - finance leases (in years) (Year) | 5 years 4 months 13 days | 6 years 4 months 20 days |
Weighted average remaining lease term - operating leases (in years) (Year) | 21 years 8 months 23 days | 20 years 5 months 23 days |
Weighted-average discount rate - finance leases | 2.52% | 1.70% |
Weighted-average discount rate - operating leases | 3.95% | 3.39% |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Payments for Operating Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
2024 | $ 511 | |
2025 | 662 | |
2026 | 669 | |
2027 | 679 | |
2028 | 689 | |
2029 and thereafter | 12,219 | |
Total future minimum lease payments | 15,429 | |
Less variable payment adjustment | (172) | |
Less amount representing interest | (5,322) | |
Present value of net future minimum lease payments | $ 9,935 | $ 8,549 |
Note 11 - Leases - Undiscounted
Note 11 - Leases - Undiscounted Cash Flows to be Received Under Operating Leases (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
2024 | $ 43 |
2025 | 54 |
2026 | 54 |
2027 | 27 |
Total lease payments to be received | $ 178 |
Note 11 - Leases - Lease Income
Note 11 - Leases - Lease Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest income on lease receivables | $ 313 | $ 320 |
Lease income - operating leases | 8 | 12 |
Total lease income | $ 321 | $ 332 |
Note 12 - Derivative Instrume_3
Note 12 - Derivative Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
U.S. Government Agencies and Corporations [Member] | ||
Interest Income, Debt Securities, Available-for-Sale, Operating | $ 89 | $ 89 |
Investment Securities [Member] | Asset Pledged as Collateral [Member] | Derivative, Instrument Rate Swap [Member] | ||
Financial Instruments, Owned, at Fair Value | $ 2,800 |
Note 12 - Derivative Instrume_4
Note 12 - Derivative Instruments - Schedule of Derivative Instruments (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Customer Interest Rate Swaps [Member] | |
Notional amount | $ 1,868 |
Weighted average years (Year) | 13 years 7 months 28 days |
Fair value | $ 210 |
Interest rate swaps | 210 |
Pay-fixed Interest Rate Swap [Member] | |
Notional amount | $ 100,000 |
Weighted average years (Year) | 2 years 6 months |
Fair value | $ (647) |
Interest rate swaps | (647) |
Third Party Interest Rate Swaps [Member] | |
Notional amount | $ 1,868 |
Weighted average years (Year) | 13 years 7 months 28 days |
Fair value | $ 210 |
Interest rate swaps | $ 210 |