Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001132651 | |
Entity Registrant Name | AMES NATIONAL CORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-32637 | |
Entity Incorporation, State or Country Code | IA | |
Entity Tax Identification Number | 42-1039071 | |
Entity Address, Address Line One | 405 Fifth Street | |
Entity Address, City or Town | Ames | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50010 | |
City Area Code | 515 | |
Local Phone Number | 232-6251 | |
Title of 12(b) Security | Common stock | |
Trading Symbol | ATLO | |
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 | 8,992,167 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 22,944 | $ 19,590 |
Interest-bearing deposits in financial institutions and federal funds sold | 6,311 | 69,539 |
Total cash and cash equivalents | 29,255 | 89,129 |
Interest-bearing time deposits | 15,410 | 16,922 |
Securities available-for-sale | 783,967 | 831,003 |
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost | 4,141 | 3,422 |
Loans receivable, net | 1,175,247 | 1,144,108 |
Loans held for sale | 467 | 0 |
Bank premises and equipment, net | 18,155 | 17,512 |
Accrued income receivable | 12,073 | 10,124 |
Bank-owned life insurance | 3,036 | 2,985 |
Deferred income taxes, net | 25,453 | 1,922 |
Intangible assets, net | 2,067 | 2,505 |
Goodwill | 12,424 | 12,424 |
Other assets | 5,244 | 4,985 |
Total assets | 2,086,939 | 2,137,041 |
LIABILITIES | ||
Noninterest-bearing checking | 381,137 | 411,585 |
Interest-bearing checking | 621,082 | 575,997 |
Savings and money market | 675,826 | 674,975 |
Time, $250 and over | 34,955 | 40,793 |
Other time | 160,011 | 174,669 |
Total deposits | 1,873,011 | 1,878,019 |
Securities sold under agreements to repurchase | 41,069 | 39,851 |
FHLB advances and other borrowings | 27,450 | 3,000 |
Dividends payable | 2,428 | 2,364 |
Accrued expenses and other liabilities | 5,710 | 6,029 |
Total liabilities | 1,949,668 | 1,929,263 |
STOCKHOLDERS' EQUITY | ||
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 8,992,167 shares and 9,092,167 shares as of September 30, 2022 and December 31, 2021, respectively | 17,984 | 18,184 |
Additional paid-in capital | 14,253 | 16,353 |
Retained earnings | 177,947 | 170,377 |
Accumulated other comprehensive income (loss) | (72,913) | 2,864 |
Total stockholders' equity | 137,271 | 207,778 |
Total liabilities and stockholders' equity | $ 2,086,939 | $ 2,137,041 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, issued (in shares) | 8,992,167 | 9,092,167 |
Common stock, outstanding (in shares) | 8,992,167 | 9,092,167 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Interest and dividend income: | ||||
Loans, including fees | $ 11,688 | $ 12,530 | $ 33,229 | $ 36,641 |
Securities: | ||||
Taxable | 3,226 | 2,256 | 8,861 | 6,457 |
Tax-exempt | 641 | 725 | 1,990 | 2,392 |
Other interest and dividend income | 250 | 168 | 675 | 515 |
Total interest income | 15,805 | 15,679 | 44,755 | 46,005 |
Interest expense: | ||||
Deposits | 1,847 | 993 | 3,921 | 3,411 |
Other borrowed funds | 295 | 34 | 383 | 106 |
Total interest expense | 2,142 | 1,027 | 4,304 | 3,517 |
Net interest income | 13,663 | 14,652 | 40,451 | 42,488 |
Provision (credit) for loan losses | (520) | (94) | (706) | (540) |
Net interest income after provision (credit) for loan losses | 14,183 | 14,746 | 41,157 | 43,028 |
Noninterest income: | ||||
Securities gains, net | 2 | 24 | 37 | 24 |
Gain on sale of loans held for sale | 137 | 429 | 501 | 1,313 |
Other noninterest income | 274 | 200 | 716 | 681 |
Total noninterest income | 2,286 | 2,673 | 7,218 | 7,815 |
Noninterest expense: | ||||
Salaries and employee benefits | 5,731 | 5,487 | 17,092 | 16,766 |
Data processing | 1,494 | 1,307 | 4,594 | 3,989 |
Occupancy expenses, net | 674 | 632 | 2,097 | 1,999 |
FDIC insurance assessments | 155 | 154 | 450 | 441 |
Professional fees | 431 | 396 | 1,407 | 1,307 |
Business development | 346 | 344 | 981 | 835 |
Intangible asset amortization | 145 | 159 | 438 | 479 |
New market tax credit projects amortization | 189 | 160 | 567 | 479 |
Other operating expenses, net | 322 | 258 | 1,091 | 1,022 |
Total noninterest expense | 9,487 | 8,897 | 28,717 | 27,317 |
Income before income taxes | 6,982 | 8,522 | 19,658 | 23,526 |
Provision for income taxes | 1,439 | 1,808 | 4,777 | 4,910 |
Net income | $ 5,543 | $ 6,714 | $ 14,881 | $ 18,616 |
Basic and diluted earnings per share (in dollars per share) | $ 0.62 | $ 0.74 | $ 1.64 | $ 2.04 |
Cash dividends declared, per share (in dollars per share) | $ 0.27 | $ 0.52 | $ 0.81 | $ 1.03 |
Fiduciary and Trust [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 1,063 | $ 1,147 | $ 3,589 | $ 3,224 |
Financial Service [Member] | ||||
Noninterest income: | ||||
Noninterest income | 348 | 385 | 1,013 | 1,065 |
Credit and Debit Card [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 462 | $ 488 | $ 1,362 | $ 1,508 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income | $ 5,543 | $ 6,714 | $ 14,881 | $ 18,616 |
Unrealized holding (losses) arising during the period | (30,439) | (1,507) | (100,257) | (10,325) |
Less: reclassification adjustment for gains realized in net income | 2 | 24 | 37 | 24 |
Other comprehensive (loss), before tax | (30,441) | (1,531) | (100,294) | (10,349) |
Tax effect related to other comprehensive (loss) | 7,246 | 383 | 24,517 | 2,587 |
Other comprehensive (loss), net of tax | (23,195) | (1,148) | (75,777) | (7,762) |
Comprehensive income (loss) | $ (17,652) | $ 5,566 | $ (60,896) | $ 10,854 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 9,122,747 | ||||
Balance at Dec. 31, 2020 | $ 18,245 | $ 17,002 | $ 158,217 | $ 16,023 | $ 209,487 |
Net income | 0 | 0 | 18,616 | 0 | 18,616 |
Other comprehensive (loss) | $ 0 | 0 | 0 | (7,762) | (7,762) |
Repurchase and retirement of stock (in shares) | (24,603) | ||||
Repurchase and retirement of stock | $ (49) | (522) | 0 | 0 | (571) |
Cash dividends declared | $ 0 | 0 | (9,390) | 0 | (9,390) |
Balance (in shares) at Sep. 30, 2021 | 9,098,144 | ||||
Balance at Sep. 30, 2021 | $ 18,196 | 16,480 | 167,443 | 8,261 | 210,380 |
Balance (in shares) at Jun. 30, 2021 | 9,122,747 | ||||
Balance at Jun. 30, 2021 | $ 18,245 | 17,002 | 165,466 | 9,409 | 210,122 |
Net income | 0 | 0 | 6,714 | 0 | 6,714 |
Other comprehensive (loss) | $ 0 | 0 | 0 | (1,148) | (1,148) |
Repurchase and retirement of stock (in shares) | (24,603,000) | ||||
Repurchase and retirement of stock | $ (49) | (522) | 0 | 0 | (571) |
Cash dividends declared | $ 0 | 0 | (4,737) | 0 | (4,737) |
Balance (in shares) at Sep. 30, 2021 | 9,098,144 | ||||
Balance at Sep. 30, 2021 | $ 18,196 | 16,480 | 167,443 | 8,261 | $ 210,380 |
Balance (in shares) at Dec. 31, 2021 | 9,092,167 | 9,092,167 | |||
Balance at Dec. 31, 2021 | $ 18,184 | 16,353 | 170,377 | 2,864 | $ 207,778 |
Net income | 0 | 0 | 14,881 | 0 | 14,881 |
Other comprehensive (loss) | $ 0 | 0 | 0 | (75,777) | (75,777) |
Repurchase and retirement of stock (in shares) | (100,000) | ||||
Repurchase and retirement of stock | $ (200) | (2,100) | 0 | 0 | (2,300) |
Cash dividends declared | $ 0 | 0 | (7,311) | 0 | $ (7,311) |
Balance (in shares) at Sep. 30, 2022 | 8,992,167 | 8,992,167 | |||
Balance at Sep. 30, 2022 | $ 17,984 | 14,253 | 177,947 | (72,913) | $ 137,271 |
Balance (in shares) at Jun. 30, 2022 | 8,992,167 | ||||
Balance at Jun. 30, 2022 | $ 17,984 | 14,253 | 174,832 | (49,718) | 157,351 |
Net income | 0 | 0 | 5,543 | 0 | 5,543 |
Other comprehensive (loss) | 0 | 0 | 0 | (23,195) | (23,195) |
Cash dividends declared | $ 0 | 0 | (2,428) | 0 | $ (2,428) |
Balance (in shares) at Sep. 30, 2022 | 8,992,167 | 8,992,167 | |||
Balance at Sep. 30, 2022 | $ 17,984 | $ 14,253 | $ 177,947 | $ (72,913) | $ 137,271 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | |||
Aug. 10, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Cash dividends declared, per share (in dollars per share) | $ 0.27 | $ 0.27 | $ 0.52 | $ 0.81 | $ 1.03 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 14,881 | $ 18,616 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision (credit) for loan losses | (706) | (540) |
Provision (credit) for off-balance sheet commitments | 131 | (2) |
Amortization of securities available-for-sale, loans and deposits, net | 1,729 | 1,909 |
Amortization of intangible assets | 438 | 479 |
Depreciation | 1,064 | 1,032 |
Deferred income taxes | 985 | 131 |
Securities (gains), net | (37) | (24) |
Increase in cash value of bank-owned life insurance | (51) | (52) |
(Gain) on sales of loans held for sale | (501) | (1,313) |
Proceeds from loans held for sale | 22,904 | 55,004 |
Originations of loans held for sale | (22,870) | (52,448) |
(Gain) loss on sale and disposal of premises and equipment, net | (76) | 13 |
Amortization of investment in New Markets Tax Credit projects | 567 | 479 |
Impairment of other real estate owned | 0 | 83 |
Loss on sale of other real estate owned, net | 0 | 1 |
Change in assets and liabilities: | ||
(Increase) in accrued income receivable | (1,949) | (35) |
(Increase) decrease in other assets | (1,059) | 377 |
(Decrease) in accrued expenses and other liabilities | (450) | (24) |
Net cash provided by operating activities | 15,000 | 23,686 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net decrease in interest-bearing time deposits | 1,512 | 1,261 |
Purchase of securities available-for-sale | (138,006) | (282,379) |
Proceeds from sale of securities available-for-sale | 10,548 | 622 |
Proceeds from maturities and calls of securities available-for-sale | 72,304 | 100,573 |
Purchase of FHLB stock | (5,946) | (286) |
Proceeds from the redemption of FHLB and FRB stock | 5,227 | 10 |
Net (increase) decrease in loans | (29,997) | 3,822 |
Net proceeds from the sale of other real estate owned | 0 | 7 |
Purchase of premises and equipment | (1,754) | (927) |
Proceeds from the sale of premises and equipment | 125 | 0 |
Net cash (used in) investing activities | (85,987) | (177,297) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Increase (decrease) in deposits | (5,008) | 120,353 |
Increase (decrease) in securities sold under agreements to repurchase | 1,218 | (1,016) |
Payments on FHLB and other borrowings | (3,150) | 0 |
Proceeds from other borrowings | 4,000 | 0 |
Net proceeds from FHLB short-term borrowings | 23,600 | 0 |
Dividends paid | (7,247) | (7,024) |
Stock repurchases | (2,300) | (571) |
Net cash provided by financing activities | 11,113 | 111,742 |
Net decrease in cash and cash equivalents | (59,874) | (41,869) |
CASH AND CASH EQUIVALENTS | ||
Beginning | 89,129 | 173,097 |
Ending | 29,255 | 131,228 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Interest | 4,553 | 3,987 |
Income taxes | 3,603 | 4,327 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES | ||
Transfer of loans receivable to other real estate owned | $ 0 | $ 560 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. The accompanying unaudited consolidated financial statements have been prepared by Ames National Corporation (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the company believes that the disclosures made are adequate to make the information not 10 December 31, 2021 ( not may Reclassifications: 2021 No no Goodwill: not not The fair value of a reporting unit is the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date. As none October 1, 2021 not no September 30, 2022. New and Pending Accounting Pronouncements: June 2016, No. 2016 13, 326 Measurement of Credit Losses on Financial Instruments October 2019, No. 2016 13 December 15, 2022. No. 2016 13 In March 2022, No. 2022 02, 326 No. 2016 13. |
Note 2 - Dividends
Note 2 - Dividends | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Dividends Disclosure [Text Block] | 2. On August 10, 2022 November 15, 2022 November 1, 2022 Two dividends were declared during the three September 30, 2021. one July 2020 August 2021. |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Earnings per share amounts were calculated using the weighted average shares outstanding during the periods presented. The weighted average outstanding shares for the three September 30, 2022 2021 nine September 30, 2022 2021 |
Note 4 - Off-balance Sheet Arra
Note 4 - Off-balance Sheet Arrangements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Loans and Leases Receivable Commitments [Text Block] | 4. The Company is party to financial instruments with off-balance sheet risk in the normal course of business. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. No December 31, 2021. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. Assets and liabilities carried at fair value are required to be classified and disclosed according to the process for determining fair value. There are three Level 1: Level 2: not Level 3: 3 The following is a description of valuation methodologies used for assets and liabilities recorded at fair value on a recurring basis. Securities available-for-sale 1 2 may Derivative financial instruments 2 The following table presents the balances of assets measured at fair value on a recurring basis by level as of September 30, 2022 December 31, 2021 (in thousands) Description Total Level 1 Level 2 Level 3 2022 Assets Securities available-for-sale U.S. government treasuries $ 208,086 $ 208,086 $ - $ - U.S. government agencies 103,643 - 103,643 - U.S. government mortgage-backed securities 118,357 - 118,357 - State and political subdivisions 280,489 - 280,489 - Corporate bonds 73,392 - 73,392 - Derivative financial instruments 1,165 - 1,165 - 2021 Assets Securities available-for-sale U.S. government treasuries $ 190,479 $ 190,479 $ - $ - U.S. government agencies 116,014 - 116,014 - U.S. government mortgage-backed securities 149,601 - 149,601 - State and political subdivisions 292,859 - 292,859 - Corporate bonds 82,050 - 82,050 - Liabilities Derivative financial instruments $ 527 $ - $ 527 $ - Certain assets are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment or a change in previously recognized impairment). The following table presents the assets carried on the balance sheet (after specific reserves) by caption and by level within the valuation hierarchy as of September 30, 2022 December 31, 2021 (in thousands) Description Total Level 1 Level 2 Level 3 2022 Loans receivable $ 8,885 $ - $ - $ 8,885 2021 Loans receivable $ 9,012 $ - $ - $ 9,012 Other real estate owned 218 - - 218 Total $ 9,230 $ - $ - $ 9,230 The significant inputs used in the fair value measurements for Level 3 September 30, 2022 December 31, 2021 (in thousands) 2022 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Loans receivable $ 8,885 Evaluation of collateral Estimation of value NM* 2021 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Loans receivable $ 9,012 Evaluation of collateral Estimation of value NM* Other real estate owned $ 218 Appraisal Appraisal adjustment 6% - 8% (7%) * Not Evaluations of the underlying assets are completed for each collateral dependent impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may not GAAP requires disclosure of the fair value of financial assets and financial liabilities, including those that are not September 30, 2022 December 31, 2021 (in thousands): 2022 2021 Fair Value Estimated Estimated Hierarchy Carrying Fair Carrying Fair Level Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 29,255 $ 29,255 $ 89,129 $ 89,129 Interest-bearing time deposits Level 1 15,410 15,410 16,922 16,922 Securities available-for-sale See previous table 783,967 783,967 831,003 831,003 FHLB and FRB stock Level 2 4,141 4,141 3,422 3,422 Loans receivable, net Level 2 1,175,247 1,120,219 1,144,108 1,112,684 Loans held for sale Level 2 467 467 - - Accrued income receivable Level 1 12,073 12,073 10,124 10,124 Derivative financial instruments Level 2 1,165 1,165 - - Financial liabilities: Deposits Level 2 $ 1,873,011 $ 1,871,699 $ 1,878,019 $ 1,880,137 Securities sold under agreements to repurchase Level 1 41,069 41,069 39,851 39,851 FHLB advances and other borrowings Level 2 27,450 27,310 3,000 3,071 Accrued interest payable Level 1 319 319 353 353 Derivative financial instruments Level 2 - - 527 527 The methodologies used to determine fair value as of September 30, 2022 not December 31, 2021 Commitments to extend credit and standby letters of credit not Limitations no |
Note 6 - Debt Securities
Note 6 - Debt Securities | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6. The amortized cost of securities available-for-sale and their approximate fair values as of September 30, 2022 December 31, 2021 (in thousands): 2022: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 230,063 $ - $ (21,977 ) $ 208,086 U.S. government agencies 114,018 5 (10,380 ) 103,643 U.S. government mortgage-backed securities 138,117 6 (19,766 ) 118,357 State and political subdivisions 316,532 5 (36,048 ) 280,489 Corporate bonds 81,713 - (8,321 ) 73,392 $ 880,443 $ 16 $ (96,492 ) $ 783,967 2021: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 192,323 $ 239 $ (2,083 ) $ 190,479 U.S. government agencies 114,531 2,235 (752 ) 116,014 U.S. government mortgage-backed securities 149,896 1,375 (1,670 ) 149,601 State and political subdivisions 290,548 4,035 (1,724 ) 292,859 Corporate bonds 79,887 2,437 (274 ) 82,050 $ 827,185 $ 10,321 $ (6,503 ) $ 831,003 The amortized cost and fair value of debt securities available-for-sale as of September 30, 2022, may in thousands Amortized Estimated Cost Fair Value Due in one year or less $ 32,318 $ 32,029 Due after one year through five years 452,629 414,093 Due after five years through ten years 382,700 326,965 Due after ten years 12,796 10,880 Total $ 880,443 $ 783,967 Securities with a carrying value of $207.4 million and $219.7 million at September 30, 2022 December 31, 2021, The proceeds and gains on securities available-for-sale for the three nine September 30, 2022 2021 in thousands Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Proceeds from sales of securities available-for-sale $ 10,013 $ 622 $ 10,548 $ 622 Gross realized gains on securities available-for-sale 25 24 60 24 Gross realized losses on securities available-for-sale (23 ) - (23 ) - Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2022 December 31, 2021 (in thousands) Less than 12 Months 12 Months or More Total 2022: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ 119,179 $ (10,309 ) $ 88,907 $ (11,668 ) $ 208,086 $ (21,977 ) U.S. government agencies 76,888 (6,433 ) 26,095 (3,947 ) 102,983 (10,380 ) U.S. government mortgage-backed securities 47,837 (5,541 ) 69,785 (14,225 ) 117,622 (19,766 ) State and political subdivisions 218,288 (23,921 ) 59,639 (12,127 ) 277,927 (36,048 ) Corporate bonds 63,812 (6,032 ) 9,580 (2,289 ) 73,392 (8,321 ) $ 526,004 $ (52,236 ) $ 254,006 $ (44,256 ) $ 780,010 $ (96,492 ) Less than 12 Months 12 Months or More Total 2021: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ 163,206 $ (2,083 ) $ - $ - $ 163,206 $ (2,083 ) U.S. government agencies 30,647 (570 ) 5,836 (182 ) 36,483 (752 ) U.S. government mortgage-backed securities 92,192 (1,580 ) 2,524 (90 ) 94,716 (1,670 ) State and political subdivisions 115,204 (1,667 ) 1,725 (57 ) 116,929 (1,724 ) Corporate bonds 16,484 (274 ) - - 16,484 (274 ) $ 417,733 $ (6,174 ) $ 10,085 $ (329 ) $ 427,818 $ (6,503 ) Gross unrealized losses on debt securities totaled $96.5 million as of September 30, 2022. not not third not |
Note 7 - Loans Receivable and C
Note 7 - Loans Receivable and Credit Disclosures | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 7. The composition of loans receivable as of September 30, 2022 December 31, 2021 in thousands 2022 2021 Real estate - construction $ 42,816 $ 42,638 Real estate - 1 to 4 family residential 281,046 246,745 Real estate - commercial 519,345 515,367 Real estate - agricultural 159,099 153,457 Commercial 1 73,554 75,482 Agricultural 98,914 111,881 Consumer and other 15,994 15,097 1,190,768 1,160,667 Less: Allowance for loan losses (15,897 ) (16,621 ) Deferred loan costs, net 376 62 Loans receivable, net $ 1,175,247 $ 1,144,108 1 $6.0 September 30, 2022 December 31, 2021, The Paycheck Protection Program (PPP) was established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) in response to the Coronavirus Disease 2019 19 2021. 100 Activity in the allowance for loan losses, on a disaggregated basis, for the three nine September 30, 2022 2021 (in thousands) Three Months Ended September 30, 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, June 30, 2022 $ 606 $ 2,920 $ 8,360 $ 1,692 $ 1,125 $ 1,484 $ 233 $ 16,420 Provision (credit) for loan losses (2 ) 83 (492 ) (94 ) (25 ) 24 (14 ) (520 ) Recoveries of loans charged-off - 4 1 - 1 - - 6 Loans charged-off - - - - (2 ) (7 ) - (9 ) Balance, September 30, 2022 $ 604 $ 3,007 $ 7,869 $ 1,598 $ 1,099 $ 1,501 $ 219 $ 15,897 Nine Months Ended September 30, 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2021 $ 675 $ 2,752 $ 8,406 $ 1,584 $ 1,170 $ 1,836 $ 198 $ 16,621 Provision (credit) for loan losses (71 ) 257 (539 ) 14 (72 ) (328 ) 33 (706 ) Recoveries of loans charged-off - 8 2 - 3 - 4 17 Loans charged-off - (10 ) - - (2 ) (7 ) (16 ) (35 ) Balance, September 30, 2022 $ 604 $ 3,007 $ 7,869 $ 1,598 $ 1,099 $ 1,501 $ 219 $ 15,897 Three Months Ended September 30, 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, June 30, 2021 $ 738 $ 2,603 $ 8,889 $ 1,614 $ 1,140 $ 1,675 $ 234 $ 16,893 Provision (credit) for loan losses (156 ) 59 33 (36 ) 64 (59 ) 1 (94 ) Recoveries of loans charged-off - 1 1 - 1 43 1 47 Loans charged-off - (4 ) - - - - (12 ) (16 ) Balance, September 30, 2021 $ 582 $ 2,659 $ 8,923 $ 1,578 $ 1,205 $ 1,659 $ 224 $ 16,830 Nine Months Ended September 30, 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2020 $ 725 $ 2,581 $ 8,930 $ 1,595 $ 1,453 $ 1,696 $ 235 $ 17,215 Provision (credit) for loan losses (143 ) (155 ) (10 ) (17 ) (138 ) (85 ) 8 (540 ) Recoveries of loans charged-off - 267 3 - 3 48 8 329 Loans charged-off - (34 ) - - (113 ) - (27 ) (174 ) Balance, September 30, 2021 $ 582 $ 2,659 $ 8,923 $ 1,578 $ 1,205 $ 1,659 $ 224 $ 16,830 Allowance for loan losses disaggregated on the basis of impairment analysis method as of September 30, 2022 December 31, 2021 (in thousands) 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 30 $ 874 $ - $ - $ 83 $ 18 $ 1,005 Collectively evaluated for impairment 604 2,977 6,995 1,598 1,099 1,418 201 14,892 Balance September 30, 2022 $ 604 $ 3,007 $ 7,869 $ 1,598 $ 1,099 $ 1,501 $ 219 $ 15,897 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 40 $ 1,139 $ - $ 60 $ 132 $ 21 $ 1,392 Collectively evaluated for impairment 675 2,712 7,267 1,584 1,110 1,704 177 15,229 Balance December 31, 2021 $ 675 $ 2,752 $ 8,406 $ 1,584 $ 1,170 $ 1,836 $ 198 $ 16,621 Loans receivable disaggregated on the basis of impairment analysis method as of September 30, 2022 December 31, 2021 (in thousands) 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,035 $ 13,144 $ 169 $ 276 $ 319 $ 26 $ 14,969 Collectively evaluated for impairment 42,816 280,011 506,201 158,930 73,278 98,595 15,968 1,175,799 Balance September 30, 2022 $ 42,816 $ 281,046 $ 519,345 $ 159,099 $ 73,554 $ 98,914 $ 15,994 $ 1,190,768 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 980 $ 9,792 $ 546 $ 330 $ 637 $ 27 $ 12,312 Collectively evaluated for impairment 42,638 245,765 505,575 152,911 75,152 111,244 15,070 1,148,355 Balance December 31, 2021 $ 42,638 $ 246,745 $ 515,367 $ 153,457 $ 75,482 $ 111,881 $ 15,097 $ 1,160,667 A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payment of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. The Company applies its normal loan review procedures to identify loans that should be evaluated for impairment. Impaired loans, on a disaggregated basis, as of September 30, 2022 December 31, 2021 (in thousands) 2022 2021 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - $ - $ - Real estate - 1 to 4 family residential 839 879 - 677 739 - Real estate - commercial 3,739 3,774 - 124 142 - Real estate - agricultural 169 194 - 546 1,001 - Commercial 276 320 - 233 269 - Agricultural 48 58 - 322 521 - Consumer and other 8 10 - 6 8 - Total loans with no specific reserve: 5,079 5,235 - 1,908 2,680 - With an allowance recorded: Real estate - construction - - - - - - Real estate - 1 to 4 family residential 196 187 30 303 314 40 Real estate - commercial 9,405 9,944 874 9,668 10,001 1,139 Real estate - agricultural - - - - - - Commercial - - - 97 98 60 Agricultural 271 294 83 315 315 132 Consumer and other 18 20 18 21 23 21 Total loans with specific reserve: 9,890 10,445 1,005 10,404 10,751 1,392 Total Real estate - construction - - - - - - Real estate - 1 to 4 family residential 1,035 1,066 30 980 1,053 40 Real estate - commercial 13,144 13,718 874 9,792 10,143 1,139 Real estate - agricultural 169 194 - 546 1,001 - Commercial 276 320 - 330 367 60 Agricultural 319 352 83 637 836 132 Consumer and other 26 30 18 27 31 21 $ 14,969 $ 15,680 $ 1,005 $ 12,312 $ 13,431 $ 1,392 Average recorded investment and interest income recognized on impaired loans for the three nine September 30, 2022 2021 (in thousands) Three Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - Real estate - 1 to 4 family residential 781 39 813 8 Real estate - commercial 1,929 - 132 - Real estate - agricultural 170 - 602 - Commercial 242 - 255 - Agricultural 39 - 318 - Consumer and other 6 - 6 - Total loans with no specific reserve: 3,167 39 2,126 8 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 98 - 164 - Real estate - commercial 9,500 - 9,922 - Real estate - agricultural - - - - Commercial 17 1 29 - Agricultural 286 - 327 - Consumer and other 19 - 30 - Total loans with specific reserve: 9,920 1 10,472 - Total Real estate - construction - - - - Real estate - 1 to 4 family residential 879 39 977 8 Real estate - commercial 11,429 - 10,054 - Real estate - agricultural 170 - 602 - Commercial 259 1 284 - Agricultural 325 - 645 - Consumer and other 25 - 36 - $ 13,087 $ 40 $ 12,598 $ 8 Nine Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ 84 $ - Real estate - 1 to 4 family residential 722 55 587 19 Real estate - commercial 1,026 - 162 297 Real estate - agricultural 357 14 990 25 Commercial 234 5 400 - Agricultural 164 - 339 14 Consumer and other 5 - 6 - Total loans with no specific reserve: 2,508 74 2,568 355 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 206 1 336 - Real estate - commercial 9,584 - 9,969 - Real estate - agricultural - - - - Commercial 43 1 181 - Agricultural 299 - 385 - Consumer and other 20 - 35 - Total loans with specific reserve: 10,152 2 10,906 - Total Real estate - construction - - 84 - Real estate - 1 to 4 family residential 928 56 923 19 Real estate - commercial 10,610 - 10,131 297 Real estate - agricultural 357 14 990 25 Commercial 277 6 581 - Agricultural 463 - 724 14 Consumer and other 25 - 41 - $ 12,660 $ 76 $ 13,474 $ 355 The interest foregone on nonaccrual loans for the three September 30, 2022 2021 nine September 30, 2022 2021 Nonaccrual loans at September 30, 2022 December 31, 2021 The Company had loans meeting the definition of a troubled debt restructuring (TDR) of $10.8 million as of September 30, 2022, December 31, 2021, The Company’s TDRs, on a disaggregated basis, occurring in the three nine September 30, 2022 2021, dollars in thousands Three Months Ended September 30, 2022 2021 Pre-Modification Post-Modification Pre-Modification Post-Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - - - - Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial - - - 1 6 6 Agricultural - - - - - - Consumer and other - - - - - - - $ - $ - 1 $ 6 $ 6 Nine Months Ended September 30, 2022 2021 Pre-Modification Post-Modification Pre-Modification Post-Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - 3 578 578 Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial - - - 2 64 64 Agricultural - - - - - - Consumer and other - - - - - - - $ - $ - 5 $ 642 $ 642 During the three nine September 30, 2022, not three September 30, 2021, nine September 30, 2021, There were no TDR loans that were modified during the twelve September 30, 2022 60 There were no net charge-offs related to TDRs for the three September 30, 2022 2021. nine September 30, 2022 2021, No three nine September 30, 2022 2021. An aging analysis of the recorded investments in loans, on a disaggregated basis, as of September 30, 2022 December 31, 2021, (in thousands) 2022 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 305 $ - $ 305 $ 42,511 $ 42,816 $ - Real estate - 1 to 4 family residential 701 72 773 280,273 281,046 7 Real estate - commercial 512 1,483 1,995 517,350 519,345 - Real estate - agricultural - - - 159,099 159,099 - Commercial 276 75 351 73,203 73,554 - Agricultural 67 12 79 98,835 98,914 - Consumer and other 38 10 48 15,946 15,994 5 $ 1,899 $ 1,652 $ 3,551 $ 1,187,217 $ 1,190,768 $ 12 2021 90 Days 90 Days 30 89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ - $ - $ - $ 42,638 $ 42,638 $ - Real estate - 1 to 4 family residential 1,198 482 1,680 245,065 246,745 169 Real estate - commercial 24 - 24 515,343 515,367 - Real estate - agricultural 30 - 30 153,427 153,457 - Commercial 251 15 266 75,216 75,482 - Agricultural 172 - 172 111,709 111,881 - Consumer and other 49 - 49 15,048 15,097 - $ 1,724 $ 497 $ 2,221 $ 1,158,446 $ 1,160,667 $ 169 The credit risk profile by internally assigned grade, on a disaggregated basis, as of September 30, 2022 December 31, 2021 (in thousands) 2022 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 42,588 $ 413,090 $ 134,873 $ 65,221 $ 81,530 $ 737,302 Watch 228 71,674 19,105 6,452 16,556 114,015 Special Mention - - - - - - Substandard - 21,437 4,952 1,605 509 28,503 Substandard-Impaired - 13,144 169 276 319 13,908 $ 42,816 $ 519,345 $ 159,099 $ 73,554 $ 98,914 $ 893,728 2021 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 38,753 $ 381,346 $ 126,157 $ 63,141 $ 95,289 $ 704,686 Watch 239 99,127 17,853 8,132 7,421 132,772 Special Mention - 3,085 3,519 762 7,664 15,030 Substandard 3,646 22,017 5,382 3,117 870 35,032 Substandard-Impaired - 9,792 546 330 637 11,305 $ 42,638 $ 515,367 $ 153,457 $ 75,482 $ 111,881 $ 898,825 The credit risk profile based on payment activity, on a disaggregated basis, as of September 30, 2022 December 31, 2021 (in thousands) 2022 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 280,011 $ 15,964 $ 295,975 Non-performing 1,035 30 1,065 $ 281,046 $ 15,994 $ 297,040 2021 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 245,598 $ 15,067 $ 260,665 Non-performing 1,147 30 1,177 $ 246,745 $ 15,097 $ 261,842 |
Note 8 - Intangible Assets
Note 8 - Intangible Assets | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 8. The following sets forth the carrying amounts and accumulated amortization of the intangible assets at September 30, 2022 December 31, 2021 (in thousands) 2022 2021 Gross Accumulated Gross Accumulated Amount Amortization Amount Amortization Core deposit intangible asset $ 6,411 $ 4,422 $ 6,411 $ 4,043 Customer list 535 457 535 398 Total $ 6,946 $ 4,879 $ 6,946 $ 4,441 The weighted average remaining life of the intangible assets is approximately 3 years and 4 years as of September 30, 2022 December 31, 2021, The following sets forth the activity related to the intangible assets for the three nine September 30, 2022 2021 (in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Beginning intangible assets, net $ 2,212 $ 2,813 $ 2,505 $ 3,133 Amortization (145 ) (159 ) (438 ) (479 ) Ending intangible assets, net $ 2,067 $ 2,654 $ 2,067 $ 2,654 Estimated remaining amortization expense on intangible assets for the years ending December 31 (in thousands) 2022 136 2023 502 2024 337 2025 300 2026 268 2027 240 After 284 Total $ 2,067 |
Note 9 - Pledged Collateral Rel
Note 9 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 9. The repurchase agreements mature daily and the following sets forth the pledged collateral at estimated fair value related to securities sold under repurchase agreements as of September 30, 2022 December 31, 2021 (in thousands) 2022 2021 Securities sold under agreements to repurchase: U.S. government treasuries $ 6,467 $ 4,971 U.S. government agencies 35,966 38,045 U.S. government mortgage-backed securities 8,645 11,127 Total pledged collateral $ 51,078 $ 54,143 In the event the repurchase agreements exceed the estimated fair value of the pledged securities available-for-sale, the Company has unpledged securities available-for-sale that may |
Note 10 - Borrowings
Note 10 - Borrowings | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. On June 6, 2022, five September 30, 2022 December 31, 2021. The Company had $23.6 million of short-term FHLB advances as of September 30, 2022 December 31, 2021. |
Note 11 - Derivative Financial
Note 11 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 11. Fair Value Hedges The Company uses interest rate swaps to convert certain long term fixed rate loans to floating rates to hedge interest rate risk exposure. The Company uses hedge accounting in accordance with ASC 815, The Company was required to pledge $1.0 million and $1.5 million of securities as collateral for these fair value hedges at September 30, 2022, December 31, 2021, The table below identifies the notional amount, fair value and balance sheet category of the Company's fair value hedges at September 30, 2021, December 31, 2021 (in thousands) Notional Amount Fair Value Balance Sheet Category September 30, 2022 Fair value hedges $ 9,408 $ 1,165 Other assets December 31, 2021 Fair value hedges $ 20,399 $ (527 ) Other liabilities |
Note 12 - Income Taxes
Note 12 - Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The tax effects of temporary differences related to income taxes are included in deferred income taxes. The change in deferred income taxes since December 31, 2021 Effective June 17, 2022, 0.3% five 2023 5% 3.5% 2027. nine September 30, 2022. |
Note 13 - Commitments, Continge
Note 13 - Commitments, Contingencies and Concentrations of Credit Risk | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. On June 9, 2022, September 30, 2022. |
Note 14 - Regulatory Matters
Note 14 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 14. The Company and the Banks are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements (as shown in the following table) can result in certain mandatory and possibly additional discretionary actions by regulators, which, if undertaken, could have a direct material effect on the Company's consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Banks must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company's and the Banks' capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Management believed the Company and the Banks met all capital adequacy requirements to which they were subject as of September 30, 2022. The Company and the Banks’ capital amounts and ratios as of September 30, 2022 December 31, 2021 dollars in thousands To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of September 30, 2022: Total capital (to risk- weighted assets): Consolidated $ 213,649 14.6 % $ 153,337 10.50 % N/A N/A Boone Bank & Trust 15,864 12.7 13,148 10.50 12,522 10.0 % First National Bank 109,914 14.8 78,045 10.50 74,328 10.0 Iowa State Savings Bank 24,918 15.6 16,784 10.50 15,985 10.0 Reliance State Bank 28,124 13.5 21,898 10.50 20,855 10.0 State Bank & Trust 21,793 14.9 15,349 10.50 14,618 10.0 United Bank & Trust 12,450 15.1 8,663 10.50 8,250 10.0 Tier 1 capital (to risk- weighted assets): Consolidated $ 196,922 13.5 % $ 124,130 8.50 % N/A N/A Boone Bank & Trust 14,932 11.9 10,644 8.50 10,018 8.0 % First National Bank 100,627 13.5 63,179 8.50 59,463 8.0 Iowa State Savings Bank 23,735 14.8 13,587 8.50 12,788 8.0 Reliance State Bank 25,544 12.2 17,727 8.50 16,684 8.0 State Bank & Trust 20,181 13.8 12,425 8.50 11,694 8.0 United Bank & Trust 11,418 13.8 7,013 8.50 6,600 8.0 Tier 1 capital (to average- assets): Consolidated $ 196,922 9.1 % $ 86,685 4.00 % N/A N/A Boone Bank & Trust 14,932 9.0 6,654 4.00 8,318 5.0 % First National Bank 100,627 9.0 44,824 4.00 56,030 5.0 Iowa State Savings Bank 23,735 9.1 10,411 4.00 13,014 5.0 Reliance State Bank 25,544 8.7 11,782 4.00 14,728 5.0 State Bank & Trust 20,181 8.8 9,132 4.00 11,415 5.0 United Bank & Trust 11,418 8.5 5,370 4.00 6,713 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 196,922 13.5 % $ 102,225 7.00 % N/A N/A Boone Bank & Trust 14,932 11.9 8,766 7.00 8,139 6.5 % First National Bank 100,627 13.5 52,030 7.00 48,313 6.5 Iowa State Savings Bank 23,735 14.8 11,189 7.00 10,390 6.5 Reliance State Bank 25,544 12.2 14,599 7.00 13,556 6.5 State Bank & Trust 20,181 13.8 10,233 7.00 9,502 6.5 United Bank & Trust 11,418 13.8 5,775 7.00 5,363 6.5 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2021: Total capital (to risk- weighted assets): Consolidated $ 208,480 14.8 % $ 146,881 10.50 % N/A N/A Boone Bank & Trust 15,603 14.2 11,562 10.50 11,012 10.0 % First National Bank 104,608 14.5 75,832 10.50 72,221 10.0 Iowa State Savings Bank 24,008 15.9 15,895 10.50 15,138 10.0 Reliance State Bank 27,292 13.6 21,136 10.50 20,129 10.0 State Bank & Trust 20,885 15.2 14,416 10.50 13,730 10.0 United Bank & Trust 12,001 15.7 8,039 10.50 7,657 10.0 Tier 1 capital (to risk- weighted assets): Consolidated $ 191,161 13.7 % $ 118,904 8.50 % N/A N/A Boone Bank & Trust 14,652 13.3 9,360 8.50 8,809 8.0 % First National Bank 95,573 13.2 61,388 8.50 57,777 8.0 Iowa State Savings Bank 22,747 15.0 12,868 8.50 12,111 8.0 Reliance State Bank 24,774 12.3 17,110 8.50 16,103 8.0 State Bank & Trust 19,231 14.0 11,670 8.50 10,984 8.0 United Bank & Trust 11,042 14.4 6,508 8.50 6,125 8.0 Tier 1 capital (to average- assets): Consolidated $ 191,161 9.0 % $ 84,585 4.00 % N/A N/A Boone Bank & Trust 14,652 9.0 6,525 4.00 8,157 5.0 % First National Bank 95,573 8.7 44,333 4.00 55,416 5.0 Iowa State Savings Bank 22,747 9.1 10,102 4.00 12,628 5.0 Reliance State Bank 24,774 8.8 11,396 4.00 14,245 5.0 State Bank & Trust 19,231 9.1 8,469 4.00 10,586 5.0 United Bank & Trust 11,042 8.9 4,955 4.00 6,193 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 191,161 13.7 % $ 97,921 7.00 % N/A N/A Boone Bank & Trust 14,652 13.3 7,708 7.00 7,158 6.5 % First National Bank 95,573 13.2 50,555 7.00 46,944 6.5 Iowa State Savings Bank 22,747 15.0 10,597 7.00 9,840 6.5 Reliance State Bank 24,774 12.3 14,091 7.00 13,084 6.5 State Bank & Trust 19,231 14.0 9,611 7.00 8,924 6.5 United Bank & Trust 11,042 14.4 5,360 7.00 4,977 6.5 The Company and the Banks are subject to the rules of the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules included the implementation of a 2.5 percent capital conservation buffer that is added to the minimum requirements for capital adequacy purposes for all capital ratios except tier 1 September 30, 2022, |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 15. Management evaluated subsequent events through the date the financial statements were issued. There were no September 30, 2022, November 8, 2022, September 30, 2022. no not September 30, 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | The accompanying unaudited consolidated financial statements have been prepared by Ames National Corporation (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the company believes that the disclosures made are adequate to make the information not 10 December 31, 2021 ( not may |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications: 2021 No no |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill: not not The fair value of a reporting unit is the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date. As none October 1, 2021 not no September 30, 2022. |
New Accounting Pronouncements, Policy [Policy Text Block] | New and Pending Accounting Pronouncements: June 2016, No. 2016 13, 326 Measurement of Credit Losses on Financial Instruments October 2019, No. 2016 13 December 15, 2022. No. 2016 13 In March 2022, No. 2022 02, 326 No. 2016 13. |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Description Total Level 1 Level 2 Level 3 2022 Assets Securities available-for-sale U.S. government treasuries $ 208,086 $ 208,086 $ - $ - U.S. government agencies 103,643 - 103,643 - U.S. government mortgage-backed securities 118,357 - 118,357 - State and political subdivisions 280,489 - 280,489 - Corporate bonds 73,392 - 73,392 - Derivative financial instruments 1,165 - 1,165 - 2021 Assets Securities available-for-sale U.S. government treasuries $ 190,479 $ 190,479 $ - $ - U.S. government agencies 116,014 - 116,014 - U.S. government mortgage-backed securities 149,601 - 149,601 - State and political subdivisions 292,859 - 292,859 - Corporate bonds 82,050 - 82,050 - Liabilities Derivative financial instruments $ 527 $ - $ 527 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Description Total Level 1 Level 2 Level 3 2022 Loans receivable $ 8,885 $ - $ - $ 8,885 2021 Loans receivable $ 9,012 $ - $ - $ 9,012 Other real estate owned 218 - - 218 Total $ 9,230 $ - $ - $ 9,230 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | 2022 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Loans receivable $ 8,885 Evaluation of collateral Estimation of value NM* 2021 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Loans receivable $ 9,012 Evaluation of collateral Estimation of value NM* Other real estate owned $ 218 Appraisal Appraisal adjustment 6% - 8% (7%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2022 2021 Fair Value Estimated Estimated Hierarchy Carrying Fair Carrying Fair Level Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 29,255 $ 29,255 $ 89,129 $ 89,129 Interest-bearing time deposits Level 1 15,410 15,410 16,922 16,922 Securities available-for-sale See previous table 783,967 783,967 831,003 831,003 FHLB and FRB stock Level 2 4,141 4,141 3,422 3,422 Loans receivable, net Level 2 1,175,247 1,120,219 1,144,108 1,112,684 Loans held for sale Level 2 467 467 - - Accrued income receivable Level 1 12,073 12,073 10,124 10,124 Derivative financial instruments Level 2 1,165 1,165 - - Financial liabilities: Deposits Level 2 $ 1,873,011 $ 1,871,699 $ 1,878,019 $ 1,880,137 Securities sold under agreements to repurchase Level 1 41,069 41,069 39,851 39,851 FHLB advances and other borrowings Level 2 27,450 27,310 3,000 3,071 Accrued interest payable Level 1 319 319 353 353 Derivative financial instruments Level 2 - - 527 527 |
Note 6 - Debt Securities (Table
Note 6 - Debt Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | 2022: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 230,063 $ - $ (21,977 ) $ 208,086 U.S. government agencies 114,018 5 (10,380 ) 103,643 U.S. government mortgage-backed securities 138,117 6 (19,766 ) 118,357 State and political subdivisions 316,532 5 (36,048 ) 280,489 Corporate bonds 81,713 - (8,321 ) 73,392 $ 880,443 $ 16 $ (96,492 ) $ 783,967 2021: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 192,323 $ 239 $ (2,083 ) $ 190,479 U.S. government agencies 114,531 2,235 (752 ) 116,014 U.S. government mortgage-backed securities 149,896 1,375 (1,670 ) 149,601 State and political subdivisions 290,548 4,035 (1,724 ) 292,859 Corporate bonds 79,887 2,437 (274 ) 82,050 $ 827,185 $ 10,321 $ (6,503 ) $ 831,003 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Estimated Cost Fair Value Due in one year or less $ 32,318 $ 32,029 Due after one year through five years 452,629 414,093 Due after five years through ten years 382,700 326,965 Due after ten years 12,796 10,880 Total $ 880,443 $ 783,967 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Proceeds from sales of securities available-for-sale $ 10,013 $ 622 $ 10,548 $ 622 Gross realized gains on securities available-for-sale 25 24 60 24 Gross realized losses on securities available-for-sale (23 ) - (23 ) - |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total 2022: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ 119,179 $ (10,309 ) $ 88,907 $ (11,668 ) $ 208,086 $ (21,977 ) U.S. government agencies 76,888 (6,433 ) 26,095 (3,947 ) 102,983 (10,380 ) U.S. government mortgage-backed securities 47,837 (5,541 ) 69,785 (14,225 ) 117,622 (19,766 ) State and political subdivisions 218,288 (23,921 ) 59,639 (12,127 ) 277,927 (36,048 ) Corporate bonds 63,812 (6,032 ) 9,580 (2,289 ) 73,392 (8,321 ) $ 526,004 $ (52,236 ) $ 254,006 $ (44,256 ) $ 780,010 $ (96,492 ) Less than 12 Months 12 Months or More Total 2021: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ 163,206 $ (2,083 ) $ - $ - $ 163,206 $ (2,083 ) U.S. government agencies 30,647 (570 ) 5,836 (182 ) 36,483 (752 ) U.S. government mortgage-backed securities 92,192 (1,580 ) 2,524 (90 ) 94,716 (1,670 ) State and political subdivisions 115,204 (1,667 ) 1,725 (57 ) 116,929 (1,724 ) Corporate bonds 16,484 (274 ) - - 16,484 (274 ) $ 417,733 $ (6,174 ) $ 10,085 $ (329 ) $ 427,818 $ (6,503 ) |
Note 7 - Loans Receivable and_2
Note 7 - Loans Receivable and Credit Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Composition of Loans Receivable [Table Text Block] | 2022 2021 Real estate - construction $ 42,816 $ 42,638 Real estate - 1 to 4 family residential 281,046 246,745 Real estate - commercial 519,345 515,367 Real estate - agricultural 159,099 153,457 Commercial 1 73,554 75,482 Agricultural 98,914 111,881 Consumer and other 15,994 15,097 1,190,768 1,160,667 Less: Allowance for loan losses (15,897 ) (16,621 ) Deferred loan costs, net 376 62 Loans receivable, net $ 1,175,247 $ 1,144,108 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three Months Ended September 30, 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, June 30, 2022 $ 606 $ 2,920 $ 8,360 $ 1,692 $ 1,125 $ 1,484 $ 233 $ 16,420 Provision (credit) for loan losses (2 ) 83 (492 ) (94 ) (25 ) 24 (14 ) (520 ) Recoveries of loans charged-off - 4 1 - 1 - - 6 Loans charged-off - - - - (2 ) (7 ) - (9 ) Balance, September 30, 2022 $ 604 $ 3,007 $ 7,869 $ 1,598 $ 1,099 $ 1,501 $ 219 $ 15,897 Nine Months Ended September 30, 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2021 $ 675 $ 2,752 $ 8,406 $ 1,584 $ 1,170 $ 1,836 $ 198 $ 16,621 Provision (credit) for loan losses (71 ) 257 (539 ) 14 (72 ) (328 ) 33 (706 ) Recoveries of loans charged-off - 8 2 - 3 - 4 17 Loans charged-off - (10 ) - - (2 ) (7 ) (16 ) (35 ) Balance, September 30, 2022 $ 604 $ 3,007 $ 7,869 $ 1,598 $ 1,099 $ 1,501 $ 219 $ 15,897 Three Months Ended September 30, 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, June 30, 2021 $ 738 $ 2,603 $ 8,889 $ 1,614 $ 1,140 $ 1,675 $ 234 $ 16,893 Provision (credit) for loan losses (156 ) 59 33 (36 ) 64 (59 ) 1 (94 ) Recoveries of loans charged-off - 1 1 - 1 43 1 47 Loans charged-off - (4 ) - - - - (12 ) (16 ) Balance, September 30, 2021 $ 582 $ 2,659 $ 8,923 $ 1,578 $ 1,205 $ 1,659 $ 224 $ 16,830 Nine Months Ended September 30, 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2020 $ 725 $ 2,581 $ 8,930 $ 1,595 $ 1,453 $ 1,696 $ 235 $ 17,215 Provision (credit) for loan losses (143 ) (155 ) (10 ) (17 ) (138 ) (85 ) 8 (540 ) Recoveries of loans charged-off - 267 3 - 3 48 8 329 Loans charged-off - (34 ) - - (113 ) - (27 ) (174 ) Balance, September 30, 2021 $ 582 $ 2,659 $ 8,923 $ 1,578 $ 1,205 $ 1,659 $ 224 $ 16,830 |
Allowance for Loan Losses Disaggregated on Basis of Impairment Analysis Method [Table Text Block] | 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 30 $ 874 $ - $ - $ 83 $ 18 $ 1,005 Collectively evaluated for impairment 604 2,977 6,995 1,598 1,099 1,418 201 14,892 Balance September 30, 2022 $ 604 $ 3,007 $ 7,869 $ 1,598 $ 1,099 $ 1,501 $ 219 $ 15,897 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 40 $ 1,139 $ - $ 60 $ 132 $ 21 $ 1,392 Collectively evaluated for impairment 675 2,712 7,267 1,584 1,110 1,704 177 15,229 Balance December 31, 2021 $ 675 $ 2,752 $ 8,406 $ 1,584 $ 1,170 $ 1,836 $ 198 $ 16,621 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2022 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,035 $ 13,144 $ 169 $ 276 $ 319 $ 26 $ 14,969 Collectively evaluated for impairment 42,816 280,011 506,201 158,930 73,278 98,595 15,968 1,175,799 Balance September 30, 2022 $ 42,816 $ 281,046 $ 519,345 $ 159,099 $ 73,554 $ 98,914 $ 15,994 $ 1,190,768 2021 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 980 $ 9,792 $ 546 $ 330 $ 637 $ 27 $ 12,312 Collectively evaluated for impairment 42,638 245,765 505,575 152,911 75,152 111,244 15,070 1,148,355 Balance December 31, 2021 $ 42,638 $ 246,745 $ 515,367 $ 153,457 $ 75,482 $ 111,881 $ 15,097 $ 1,160,667 |
Impaired Financing Receivables [Table Text Block] | 2022 2021 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - $ - $ - Real estate - 1 to 4 family residential 839 879 - 677 739 - Real estate - commercial 3,739 3,774 - 124 142 - Real estate - agricultural 169 194 - 546 1,001 - Commercial 276 320 - 233 269 - Agricultural 48 58 - 322 521 - Consumer and other 8 10 - 6 8 - Total loans with no specific reserve: 5,079 5,235 - 1,908 2,680 - With an allowance recorded: Real estate - construction - - - - - - Real estate - 1 to 4 family residential 196 187 30 303 314 40 Real estate - commercial 9,405 9,944 874 9,668 10,001 1,139 Real estate - agricultural - - - - - - Commercial - - - 97 98 60 Agricultural 271 294 83 315 315 132 Consumer and other 18 20 18 21 23 21 Total loans with specific reserve: 9,890 10,445 1,005 10,404 10,751 1,392 Total Real estate - construction - - - - - - Real estate - 1 to 4 family residential 1,035 1,066 30 980 1,053 40 Real estate - commercial 13,144 13,718 874 9,792 10,143 1,139 Real estate - agricultural 169 194 - 546 1,001 - Commercial 276 320 - 330 367 60 Agricultural 319 352 83 637 836 132 Consumer and other 26 30 18 27 31 21 $ 14,969 $ 15,680 $ 1,005 $ 12,312 $ 13,431 $ 1,392 |
Average Investment in Impaired Loans and Interest Income Recognized [Table Text Block] | Three Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - Real estate - 1 to 4 family residential 781 39 813 8 Real estate - commercial 1,929 - 132 - Real estate - agricultural 170 - 602 - Commercial 242 - 255 - Agricultural 39 - 318 - Consumer and other 6 - 6 - Total loans with no specific reserve: 3,167 39 2,126 8 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 98 - 164 - Real estate - commercial 9,500 - 9,922 - Real estate - agricultural - - - - Commercial 17 1 29 - Agricultural 286 - 327 - Consumer and other 19 - 30 - Total loans with specific reserve: 9,920 1 10,472 - Total Real estate - construction - - - - Real estate - 1 to 4 family residential 879 39 977 8 Real estate - commercial 11,429 - 10,054 - Real estate - agricultural 170 - 602 - Commercial 259 1 284 - Agricultural 325 - 645 - Consumer and other 25 - 36 - $ 13,087 $ 40 $ 12,598 $ 8 Nine Months Ended September 30, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ 84 $ - Real estate - 1 to 4 family residential 722 55 587 19 Real estate - commercial 1,026 - 162 297 Real estate - agricultural 357 14 990 25 Commercial 234 5 400 - Agricultural 164 - 339 14 Consumer and other 5 - 6 - Total loans with no specific reserve: 2,508 74 2,568 355 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 206 1 336 - Real estate - commercial 9,584 - 9,969 - Real estate - agricultural - - - - Commercial 43 1 181 - Agricultural 299 - 385 - Consumer and other 20 - 35 - Total loans with specific reserve: 10,152 2 10,906 - Total Real estate - construction - - 84 - Real estate - 1 to 4 family residential 928 56 923 19 Real estate - commercial 10,610 - 10,131 297 Real estate - agricultural 357 14 990 25 Commercial 277 6 581 - Agricultural 463 - 724 14 Consumer and other 25 - 41 - $ 12,660 $ 76 $ 13,474 $ 355 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Three Months Ended September 30, 2022 2021 Pre-Modification Post-Modification Pre-Modification Post-Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - - - - Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial - - - 1 6 6 Agricultural - - - - - - Consumer and other - - - - - - - $ - $ - 1 $ 6 $ 6 Nine Months Ended September 30, 2022 2021 Pre-Modification Post-Modification Pre-Modification Post-Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Real estate - construction - $ - $ - - $ - $ - Real estate - 1 to 4 family residential - - - 3 578 578 Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial - - - 2 64 64 Agricultural - - - - - - Consumer and other - - - - - - - $ - $ - 5 $ 642 $ 642 |
Financing Receivable, Past Due [Table Text Block] | 2022 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 305 $ - $ 305 $ 42,511 $ 42,816 $ - Real estate - 1 to 4 family residential 701 72 773 280,273 281,046 7 Real estate - commercial 512 1,483 1,995 517,350 519,345 - Real estate - agricultural - - - 159,099 159,099 - Commercial 276 75 351 73,203 73,554 - Agricultural 67 12 79 98,835 98,914 - Consumer and other 38 10 48 15,946 15,994 5 $ 1,899 $ 1,652 $ 3,551 $ 1,187,217 $ 1,190,768 $ 12 2021 90 Days 90 Days 30 89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ - $ - $ - $ 42,638 $ 42,638 $ - Real estate - 1 to 4 family residential 1,198 482 1,680 245,065 246,745 169 Real estate - commercial 24 - 24 515,343 515,367 - Real estate - agricultural 30 - 30 153,427 153,457 - Commercial 251 15 266 75,216 75,482 - Agricultural 172 - 172 111,709 111,881 - Consumer and other 49 - 49 15,048 15,097 - $ 1,724 $ 497 $ 2,221 $ 1,158,446 $ 1,160,667 $ 169 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 2022 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 42,588 $ 413,090 $ 134,873 $ 65,221 $ 81,530 $ 737,302 Watch 228 71,674 19,105 6,452 16,556 114,015 Special Mention - - - - - - Substandard - 21,437 4,952 1,605 509 28,503 Substandard-Impaired - 13,144 169 276 319 13,908 $ 42,816 $ 519,345 $ 159,099 $ 73,554 $ 98,914 $ 893,728 2021 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 38,753 $ 381,346 $ 126,157 $ 63,141 $ 95,289 $ 704,686 Watch 239 99,127 17,853 8,132 7,421 132,772 Special Mention - 3,085 3,519 762 7,664 15,030 Substandard 3,646 22,017 5,382 3,117 870 35,032 Substandard-Impaired - 9,792 546 330 637 11,305 $ 42,638 $ 515,367 $ 153,457 $ 75,482 $ 111,881 $ 898,825 |
Credit Risk Profile Based on Payment Activity on Disaggregated Basis [Table Text Block] | 2022 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 280,011 $ 15,964 $ 295,975 Non-performing 1,035 30 1,065 $ 281,046 $ 15,994 $ 297,040 2021 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 245,598 $ 15,067 $ 260,665 Non-performing 1,147 30 1,177 $ 246,745 $ 15,097 $ 261,842 |
Note 8 - Intangible Assets (Tab
Note 8 - Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Finite-Lived Intangible Assets Amortization Expense [Table Text Block] | 2022 2021 Gross Accumulated Gross Accumulated Amount Amortization Amount Amortization Core deposit intangible asset $ 6,411 $ 4,422 $ 6,411 $ 4,043 Customer list 535 457 535 398 Total $ 6,946 $ 4,879 $ 6,946 $ 4,441 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Beginning intangible assets, net $ 2,212 $ 2,813 $ 2,505 $ 3,133 Amortization (145 ) (159 ) (438 ) (479 ) Ending intangible assets, net $ 2,067 $ 2,654 $ 2,067 $ 2,654 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2022 136 2023 502 2024 337 2025 300 2026 268 2027 240 After 284 Total $ 2,067 |
Note 9 - Pledged Collateral R_2
Note 9 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | 2022 2021 Securities sold under agreements to repurchase: U.S. government treasuries $ 6,467 $ 4,971 U.S. government agencies 35,966 38,045 U.S. government mortgage-backed securities 8,645 11,127 Total pledged collateral $ 51,078 $ 54,143 |
Note 11 - Derivative Financia_2
Note 11 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Notional Amount Fair Value Balance Sheet Category September 30, 2022 Fair value hedges $ 9,408 $ 1,165 Other assets December 31, 2021 Fair value hedges $ 20,399 $ (527 ) Other liabilities |
Note 14 - Regulatory Matters (T
Note 14 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of September 30, 2022: Total capital (to risk- weighted assets): Consolidated $ 213,649 14.6 % $ 153,337 10.50 % N/A N/A Boone Bank & Trust 15,864 12.7 13,148 10.50 12,522 10.0 % First National Bank 109,914 14.8 78,045 10.50 74,328 10.0 Iowa State Savings Bank 24,918 15.6 16,784 10.50 15,985 10.0 Reliance State Bank 28,124 13.5 21,898 10.50 20,855 10.0 State Bank & Trust 21,793 14.9 15,349 10.50 14,618 10.0 United Bank & Trust 12,450 15.1 8,663 10.50 8,250 10.0 Tier 1 capital (to risk- weighted assets): Consolidated $ 196,922 13.5 % $ 124,130 8.50 % N/A N/A Boone Bank & Trust 14,932 11.9 10,644 8.50 10,018 8.0 % First National Bank 100,627 13.5 63,179 8.50 59,463 8.0 Iowa State Savings Bank 23,735 14.8 13,587 8.50 12,788 8.0 Reliance State Bank 25,544 12.2 17,727 8.50 16,684 8.0 State Bank & Trust 20,181 13.8 12,425 8.50 11,694 8.0 United Bank & Trust 11,418 13.8 7,013 8.50 6,600 8.0 Tier 1 capital (to average- assets): Consolidated $ 196,922 9.1 % $ 86,685 4.00 % N/A N/A Boone Bank & Trust 14,932 9.0 6,654 4.00 8,318 5.0 % First National Bank 100,627 9.0 44,824 4.00 56,030 5.0 Iowa State Savings Bank 23,735 9.1 10,411 4.00 13,014 5.0 Reliance State Bank 25,544 8.7 11,782 4.00 14,728 5.0 State Bank & Trust 20,181 8.8 9,132 4.00 11,415 5.0 United Bank & Trust 11,418 8.5 5,370 4.00 6,713 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 196,922 13.5 % $ 102,225 7.00 % N/A N/A Boone Bank & Trust 14,932 11.9 8,766 7.00 8,139 6.5 % First National Bank 100,627 13.5 52,030 7.00 48,313 6.5 Iowa State Savings Bank 23,735 14.8 11,189 7.00 10,390 6.5 Reliance State Bank 25,544 12.2 14,599 7.00 13,556 6.5 State Bank & Trust 20,181 13.8 10,233 7.00 9,502 6.5 United Bank & Trust 11,418 13.8 5,775 7.00 5,363 6.5 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2021: Total capital (to risk- weighted assets): Consolidated $ 208,480 14.8 % $ 146,881 10.50 % N/A N/A Boone Bank & Trust 15,603 14.2 11,562 10.50 11,012 10.0 % First National Bank 104,608 14.5 75,832 10.50 72,221 10.0 Iowa State Savings Bank 24,008 15.9 15,895 10.50 15,138 10.0 Reliance State Bank 27,292 13.6 21,136 10.50 20,129 10.0 State Bank & Trust 20,885 15.2 14,416 10.50 13,730 10.0 United Bank & Trust 12,001 15.7 8,039 10.50 7,657 10.0 Tier 1 capital (to risk- weighted assets): Consolidated $ 191,161 13.7 % $ 118,904 8.50 % N/A N/A Boone Bank & Trust 14,652 13.3 9,360 8.50 8,809 8.0 % First National Bank 95,573 13.2 61,388 8.50 57,777 8.0 Iowa State Savings Bank 22,747 15.0 12,868 8.50 12,111 8.0 Reliance State Bank 24,774 12.3 17,110 8.50 16,103 8.0 State Bank & Trust 19,231 14.0 11,670 8.50 10,984 8.0 United Bank & Trust 11,042 14.4 6,508 8.50 6,125 8.0 Tier 1 capital (to average- assets): Consolidated $ 191,161 9.0 % $ 84,585 4.00 % N/A N/A Boone Bank & Trust 14,652 9.0 6,525 4.00 8,157 5.0 % First National Bank 95,573 8.7 44,333 4.00 55,416 5.0 Iowa State Savings Bank 22,747 9.1 10,102 4.00 12,628 5.0 Reliance State Bank 24,774 8.8 11,396 4.00 14,245 5.0 State Bank & Trust 19,231 9.1 8,469 4.00 10,586 5.0 United Bank & Trust 11,042 8.9 4,955 4.00 6,193 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 191,161 13.7 % $ 97,921 7.00 % N/A N/A Boone Bank & Trust 14,652 13.3 7,708 7.00 7,158 6.5 % First National Bank 95,573 13.2 50,555 7.00 46,944 6.5 Iowa State Savings Bank 22,747 15.0 10,597 7.00 9,840 6.5 Reliance State Bank 24,774 12.3 14,091 7.00 13,084 6.5 State Bank & Trust 19,231 14.0 9,611 7.00 8,924 6.5 United Bank & Trust 11,042 14.4 5,360 7.00 4,977 6.5 |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Net Cash Provided by (Used in) Investing Activities, Total | $ (85,987) | $ (177,297) |
Goodwill, Impairment Loss | $ 0 | |
Interest-bearing Deposits and Federal Funds Sold Reclassified as Cash and Cash Equivalents [Member] | ||
Net Cash Provided by (Used in) Investing Activities, Total | $ (43,000) |
Note 2 - Dividends (Details Tex
Note 2 - Dividends (Details Textual) - $ / shares | 3 Months Ended | 9 Months Ended | |||
Aug. 10, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.27 | $ 0.27 | $ 0.52 | $ 0.81 | $ 1.03 |
Dividends Payable, Date Declared | Aug. 10, 2022 | ||||
Dividends Payable, Date to be Paid | Nov. 15, 2022 | ||||
Dividends Payable, Date of Record | Nov. 01, 2022 |
Note 3 - Earnings Per Share (De
Note 3 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Weighted Average Number of Shares Outstanding, Basic, Total (in shares) | 8,992,167 | 9,119,871 | 9,047,308 | 9,121,778 |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment, Total (in shares) | 0 | 0 | 0 | 0 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available for sale securities | $ 783,967 | $ 831,003 |
US Treasury Securities [Member] | ||
Available for sale securities | 208,086 | 190,479 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 103,643 | 116,014 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 118,357 | 149,601 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 280,489 | 292,859 |
Corporate Debt Securities [Member] | ||
Available for sale securities | 73,392 | 82,050 |
Fair Value, Recurring [Member] | ||
Fair value hedges, Assets | 1,165 | |
Derivative financial instruments | 527 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair value hedges, Assets | 0 | |
Derivative financial instruments | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair value hedges, Assets | 1,165 | |
Derivative financial instruments | 527 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair value hedges, Assets | 0 | |
Derivative financial instruments | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available for sale securities | 208,086 | 190,479 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 208,086 | 190,479 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 103,643 | 116,014 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 103,643 | 116,014 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 118,357 | 149,601 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 118,357 | 149,601 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 280,489 | 292,859 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 280,489 | 292,859 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available for sale securities | 73,392 | 82,050 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 73,392 | 82,050 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | $ 0 | $ 0 |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans receivable | $ 8,885 | $ 9,012 |
Other real estate owned | 218 | |
Total | 9,230 | |
Fair Value, Inputs, Level 1 [Member] | ||
Loans receivable | 0 | 0 |
Other real estate owned | 0 | |
Total | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Loans receivable | 0 | 0 |
Other real estate owned | 0 | |
Total | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Loans receivable | $ 8,885 | 9,012 |
Other real estate owned | 218 | |
Total | $ 9,230 |
Note 5 - Fair Value Measureme_5
Note 5 - Fair Value Measurements - Fair Value Quantitative Information (Details) - Fair Value, Nonrecurring [Member] $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Loans receivable | $ 8,885 | $ 9,012 |
Loans receivable | 8,885 | 9,012 |
Other real estate owned | 218 | |
Fair Value, Inputs, Level 3 [Member] | ||
Loans receivable | 8,885 | 9,012 |
Loans receivable | 8,885 | 9,012 |
Other real estate owned | 218 | |
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | ||
Loans receivable | 8,885 | 9,012 |
Loans receivable | $ 8,885 | 9,012 |
Appraisal Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Other real estate owned | $ 218 | |
Appraisal Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | ||
Other real estate owned | 6 | |
Appraisal Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | ||
Other real estate owned | 8 | |
Appraisal Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member] | ||
Other real estate owned | (7) |
Note 5 - Fair Value Measureme_6
Note 5 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Securities available-for-sale | $ 783,967 | $ 831,003 |
Reported Value Measurement [Member] | ||
Securities available-for-sale | 783,967 | 831,003 |
Estimate of Fair Value Measurement [Member] | ||
Securities available-for-sale | 783,967 | 831,003 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and cash equivalents | 29,255 | 89,129 |
Accrued income receivable | 12,073 | 10,124 |
Securities sold under agreements to repurchase | 41,069 | 39,851 |
Accrued interest payable | 319 | 353 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 29,255 | 89,129 |
Accrued income receivable | 12,073 | 10,124 |
Securities sold under agreements to repurchase | 41,069 | 39,851 |
Accrued interest payable | 319 | 353 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Interest-bearing time deposits | 15,410 | 16,922 |
FHLB and FRB stock | 4,141 | 3,422 |
Loans receivable | 1,175,247 | 1,144,108 |
Loans held for sale | 467 | 0 |
Derivative financial instruments | 1,165 | 0 |
Deposits | 1,873,011 | 1,878,019 |
FHLB advances and other borrowings | 27,450 | 3,000 |
Derivative financial instruments | 0 | 527 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Interest-bearing time deposits | 15,410 | 16,922 |
FHLB and FRB stock | 4,141 | 3,422 |
Loans receivable | 1,120,219 | 1,112,684 |
Loans held for sale | 467 | 0 |
Derivative financial instruments | 1,165 | 0 |
Deposits | 1,871,699 | 1,880,137 |
FHLB advances and other borrowings | 27,310 | 3,071 |
Derivative financial instruments | $ 0 | $ 527 |
Note 6 - Debt Securities (Detai
Note 6 - Debt Securities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-Sale, Restricted | $ 207,400 | $ 219,700 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | $ 96,492 | $ 6,503 |
Note 6 - Debt Securities - Secu
Note 6 - Debt Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Amortized cost | $ 880,443 | $ 827,185 |
Gross unrealized gains | 16 | 10,321 |
Gross unrealized losses | (96,492) | (6,503) |
Estimated fair value | 783,967 | 831,003 |
US Treasury Securities [Member] | ||
Amortized cost | 230,063 | 192,323 |
Gross unrealized gains | 0 | 239 |
Gross unrealized losses | (21,977) | (2,083) |
Estimated fair value | 208,086 | 190,479 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 114,018 | 114,531 |
Gross unrealized gains | 5 | 2,235 |
Gross unrealized losses | (10,380) | (752) |
Estimated fair value | 103,643 | 116,014 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 138,117 | 149,896 |
Gross unrealized gains | 6 | 1,375 |
Gross unrealized losses | (19,766) | (1,670) |
Estimated fair value | 118,357 | 149,601 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 316,532 | 290,548 |
Gross unrealized gains | 5 | 4,035 |
Gross unrealized losses | (36,048) | (1,724) |
Estimated fair value | 280,489 | 292,859 |
Corporate Debt Securities [Member] | ||
Amortized cost | 81,713 | 79,887 |
Gross unrealized gains | 0 | 2,437 |
Gross unrealized losses | (8,321) | (274) |
Estimated fair value | $ 73,392 | $ 82,050 |
Note 6 - Debt Securities - Debt
Note 6 - Debt Securities - Debt Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Due in one year or less, Amortized cost | $ 32,318 | |
Due in one year or less, Estimated fair value | 32,029 | |
Due after one year through five years, Amortized cost | 452,629 | |
Due after one year through five years, Estimated fair value | 414,093 | |
Due after five years through ten years, Amortized cost | 382,700 | |
Due after five years through ten years, Estimated fair value | 326,965 | |
Due after ten years, Amortized cost | 12,796 | |
Due after ten years, Estimated fair value | 10,880 | |
Total, amortized cost | 880,443 | $ 827,185 |
Securities available-for-sale | $ 783,967 | $ 831,003 |
Note 6 - Debt Securities - Proc
Note 6 - Debt Securities - Proceeds, Gains and Losses From Securities Available-for-sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Proceeds from sales of securities available-for-sale | $ 10,013 | $ 622 | $ 10,548 | $ 622 |
Gross realized gains on securities available-for-sale | 25 | 24 | 60 | 24 |
Gross realized losses on securities available-for-sale | $ (23) | $ 0 | $ (23) | $ 0 |
Note 6 - Debt Securities - Se_2
Note 6 - Debt Securities - Securities Available-for-sale Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Less than 12 months, estimated fair value | $ 526,004 | $ 417,733 |
Less than 12 months, unrealized losses | (52,236) | (6,174) |
12 months or more, estimated fair value | 254,006 | 10,085 |
12 months or more, unrealized losses | (44,256) | (329) |
Total estimated fair value | 780,010 | 427,818 |
Total unrealized losses | (96,492) | (6,503) |
US Treasury Securities [Member] | ||
Less than 12 months, estimated fair value | 119,179 | 163,206 |
Less than 12 months, unrealized losses | (10,309) | (2,083) |
12 months or more, estimated fair value | 88,907 | 0 |
12 months or more, unrealized losses | (11,668) | 0 |
Total estimated fair value | 208,086 | 163,206 |
Total unrealized losses | (21,977) | (2,083) |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, estimated fair value | 76,888 | 30,647 |
Less than 12 months, unrealized losses | (6,433) | (570) |
12 months or more, estimated fair value | 26,095 | 5,836 |
12 months or more, unrealized losses | (3,947) | (182) |
Total estimated fair value | 102,983 | 36,483 |
Total unrealized losses | (10,380) | (752) |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than 12 months, estimated fair value | 47,837 | 92,192 |
Less than 12 months, unrealized losses | (5,541) | (1,580) |
12 months or more, estimated fair value | 69,785 | 2,524 |
12 months or more, unrealized losses | (14,225) | (90) |
Total estimated fair value | 117,622 | 94,716 |
Total unrealized losses | (19,766) | (1,670) |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, estimated fair value | 218,288 | 115,204 |
Less than 12 months, unrealized losses | (23,921) | (1,667) |
12 months or more, estimated fair value | 59,639 | 1,725 |
12 months or more, unrealized losses | (12,127) | (57) |
Total estimated fair value | 277,927 | 116,929 |
Total unrealized losses | (36,048) | (1,724) |
Corporate Debt Securities [Member] | ||
Less than 12 months, estimated fair value | 63,812 | 16,484 |
Less than 12 months, unrealized losses | (6,032) | (274) |
12 months or more, estimated fair value | 9,580 | 0 |
12 months or more, unrealized losses | (2,289) | 0 |
Total estimated fair value | 73,392 | 16,484 |
Total unrealized losses | $ (8,321) | $ (274) |
Note 7 - Loans Receivable and_3
Note 7 - Loans Receivable and Credit Disclosures (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | ||
Loans and Leases Receivable, Gross | $ 1,190,768 | $ 1,190,768 | $ 1,160,667 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 224 | $ 154 | 535 | $ 523 | ||
Financing Receivable, Nonaccrual | 15,200 | 15,200 | 12,700 | |||
Financing Receivable, Troubled Debt Restructuring | $ 10,800 | $ 10,800 | 11,300 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 0 | 5 | ||
Number Of Restructured Loans Granting Concessions | 1 | 4 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | |||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | $ 0 | $ 262 | ||
Commercial Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross | [1] | $ 73,554 | $ 73,554 | 75,482 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 0 | 2 | ||
SBA CARES Act Paycheck Protection Program Member | Commercial Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross | $ 200 | $ 200 | $ 6,000 | |||
[1]Commercial loan portfolio includes $0.3 million and $6.0 million of Paycheck Protection Program ("PPP") loans as of March 31, 2022 and December 31, 2021, respectively. |
Note 7 - Loans Receivable and_4
Note 7 - Loans Receivable and Credit Disclosures - Composition of Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Loans receivable | $ 1,190,768 | $ 1,160,667 | |||||
Allowance for loan losses | (15,897) | $ (16,420) | (16,621) | $ (16,830) | $ (16,893) | $ (17,215) | |
Deferred loan costs, net | 376 | 62 | |||||
Loans receivable, net | 1,175,247 | 1,144,108 | |||||
Construction Real Estate [Member] | |||||||
Loans receivable | 42,816 | 42,638 | |||||
Allowance for loan losses | (604) | (606) | (675) | (582) | (738) | (725) | |
Family Residential Real Estate 1-4 [Member] | |||||||
Loans receivable | 281,046 | 246,745 | |||||
Allowance for loan losses | (3,007) | (2,920) | (2,752) | (2,659) | (2,603) | (2,581) | |
Commercial Real Estate Portfolio Segment [Member] | |||||||
Loans receivable | 519,345 | 515,367 | |||||
Allowance for loan losses | (7,869) | (8,360) | (8,406) | (8,923) | (8,889) | (8,930) | |
Agriculture Real Estate [Member] | |||||||
Loans receivable | 159,099 | 153,457 | |||||
Allowance for loan losses | (1,598) | (1,692) | (1,584) | (1,578) | (1,614) | (1,595) | |
Commercial Portfolio Segment [Member] | |||||||
Loans receivable | [1] | 73,554 | 75,482 | ||||
Allowance for loan losses | (1,099) | (1,125) | (1,170) | (1,205) | (1,140) | (1,453) | |
Agriculture [Member] | |||||||
Loans receivable | 98,914 | 111,881 | |||||
Allowance for loan losses | (1,501) | (1,484) | (1,836) | (1,659) | (1,675) | (1,696) | |
Consumer and Other [Member] | |||||||
Loans receivable | 15,994 | 15,097 | |||||
Allowance for loan losses | $ (219) | $ (233) | $ (198) | $ (224) | $ (234) | $ (235) | |
[1]Commercial loan portfolio includes $0.3 million and $6.0 million of Paycheck Protection Program ("PPP") loans as of March 31, 2022 and December 31, 2021, respectively. |
Note 7 - Loans Receivable and_5
Note 7 - Loans Receivable and Credit Disclosures - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Balance | $ 16,420 | $ 16,893 | $ 16,621 | $ 17,215 |
Provision (credit) for loan losses | (520) | (94) | (706) | (540) |
Recoveries of loans charged-off | 6 | 47 | 17 | 329 |
Loans charged-off | (9) | (16) | (35) | (174) |
Balance | 15,897 | 16,830 | 15,897 | 16,830 |
Construction Real Estate [Member] | ||||
Balance | 606 | 738 | 675 | 725 |
Provision (credit) for loan losses | (2) | (156) | (71) | (143) |
Recoveries of loans charged-off | 0 | 0 | 0 | 0 |
Loans charged-off | 0 | 0 | 0 | 0 |
Balance | 604 | 582 | 604 | 582 |
Family Residential Real Estate 1-4 [Member] | ||||
Balance | 2,920 | 2,603 | 2,752 | 2,581 |
Provision (credit) for loan losses | 83 | 59 | 257 | (155) |
Recoveries of loans charged-off | 4 | 1 | 8 | 267 |
Loans charged-off | 0 | (4) | (10) | (34) |
Balance | 3,007 | 2,659 | 3,007 | 2,659 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 8,360 | 8,889 | 8,406 | 8,930 |
Provision (credit) for loan losses | (492) | 33 | (539) | (10) |
Recoveries of loans charged-off | 1 | 1 | 2 | 3 |
Loans charged-off | 0 | 0 | 0 | 0 |
Balance | 7,869 | 8,923 | 7,869 | 8,923 |
Agriculture Real Estate [Member] | ||||
Balance | 1,692 | 1,614 | 1,584 | 1,595 |
Provision (credit) for loan losses | (94) | (36) | 14 | (17) |
Recoveries of loans charged-off | 0 | 0 | 0 | 0 |
Loans charged-off | 0 | 0 | 0 | 0 |
Balance | 1,598 | 1,578 | 1,598 | 1,578 |
Commercial Portfolio Segment [Member] | ||||
Balance | 1,125 | 1,140 | 1,170 | 1,453 |
Provision (credit) for loan losses | (25) | 64 | (72) | (138) |
Recoveries of loans charged-off | 1 | 1 | 3 | 3 |
Loans charged-off | (2) | 0 | (2) | (113) |
Balance | 1,099 | 1,205 | 1,099 | 1,205 |
Agriculture [Member] | ||||
Balance | 1,484 | 1,675 | 1,836 | 1,696 |
Provision (credit) for loan losses | 24 | (59) | (328) | (85) |
Recoveries of loans charged-off | 0 | 43 | 0 | 48 |
Loans charged-off | (7) | 0 | (7) | 0 |
Balance | 1,501 | 1,659 | 1,501 | 1,659 |
Consumer and Other [Member] | ||||
Balance | 233 | 234 | 198 | 235 |
Provision (credit) for loan losses | (14) | 1 | 33 | 8 |
Recoveries of loans charged-off | 0 | 1 | 4 | 8 |
Loans charged-off | 0 | (12) | (16) | (27) |
Balance | $ 219 | $ 224 | $ 219 | $ 224 |
Note 7 - Loans Receivable and_6
Note 7 - Loans Receivable and Credit Disclosures - Allowance for Loan Losses Impairment Analysis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Individually evaluated for impairment | $ 1,005 | $ 1,392 |
Collectively evaluated for impairment | 14,892 | 15,229 |
Balance | 15,897 | 16,621 |
Construction Real Estate [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 604 | 675 |
Balance | 604 | 675 |
Family Residential Real Estate 1-4 [Member] | ||
Individually evaluated for impairment | 30 | 40 |
Collectively evaluated for impairment | 2,977 | 2,712 |
Balance | 3,007 | 2,752 |
Commercial Real Estate Portfolio Segment [Member] | ||
Individually evaluated for impairment | 874 | 1,139 |
Collectively evaluated for impairment | 6,995 | 7,267 |
Balance | 7,869 | 8,406 |
Agriculture Real Estate [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 1,598 | 1,584 |
Balance | 1,598 | 1,584 |
Commercial Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 60 |
Collectively evaluated for impairment | 1,099 | 1,110 |
Balance | 1,099 | 1,170 |
Agriculture [Member] | ||
Individually evaluated for impairment | 83 | 132 |
Collectively evaluated for impairment | 1,418 | 1,704 |
Balance | 1,501 | 1,836 |
Consumer and Other [Member] | ||
Individually evaluated for impairment | 18 | 21 |
Collectively evaluated for impairment | 201 | 177 |
Balance | $ 219 | $ 198 |
Note 7 - Loans Receivable and_7
Note 7 - Loans Receivable and Credit Disclosures - Loans Receivable Impairment Analysis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Individually evaluated for impairment | $ 14,969 | $ 12,312 | |
Collectively evaluated for impairment | 1,175,799 | 1,148,355 | |
Balance | 1,190,768 | 1,160,667 | |
Construction Real Estate [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 42,816 | 42,638 | |
Balance | 42,816 | 42,638 | |
Family Residential Real Estate 1-4 [Member] | |||
Individually evaluated for impairment | 1,035 | 980 | |
Collectively evaluated for impairment | 280,011 | 245,765 | |
Balance | 281,046 | 246,745 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Individually evaluated for impairment | 13,144 | 9,792 | |
Collectively evaluated for impairment | 506,201 | 505,575 | |
Balance | 519,345 | 515,367 | |
Agriculture Real Estate [Member] | |||
Individually evaluated for impairment | 169 | 546 | |
Collectively evaluated for impairment | 158,930 | 152,911 | |
Balance | 159,099 | 153,457 | |
Commercial Portfolio Segment [Member] | |||
Individually evaluated for impairment | 276 | 330 | |
Collectively evaluated for impairment | 73,278 | 75,152 | |
Balance | [1] | 73,554 | 75,482 |
Agriculture [Member] | |||
Individually evaluated for impairment | 319 | 637 | |
Collectively evaluated for impairment | 98,595 | 111,244 | |
Balance | 98,914 | 111,881 | |
Consumer and Other [Member] | |||
Individually evaluated for impairment | 26 | 27 | |
Collectively evaluated for impairment | 15,968 | 15,070 | |
Balance | $ 15,994 | $ 15,097 | |
[1]Commercial loan portfolio includes $0.3 million and $6.0 million of Paycheck Protection Program ("PPP") loans as of March 31, 2022 and December 31, 2021, respectively. |
Note 7 - Loans Receivable and_8
Note 7 - Loans Receivable and Credit Disclosures - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Impaired financing receivable with no related allowance, recorded investment | $ 5,079 | $ 1,908 |
Impaired financing receivable with no related allowance, unpaid principal balance | 5,235 | 2,680 |
Impaired financing receivable with related allowance, recorded investment | 9,890 | 10,404 |
Impaired financing receivable with related allowance, unpaid principal balance | 10,445 | 10,751 |
Impaired financing receivable, related allowance | 1,005 | 1,392 |
Impaired financing receivable, recorded investment | 14,969 | 12,312 |
Impaired financing receivable, unpaid principal balance | 15,680 | 13,431 |
Construction Real Estate [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with no related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 |
Impaired financing receivable, recorded investment | 0 | 0 |
Impaired financing receivable, unpaid principal balance | 0 | 0 |
Family Residential Real Estate 1-4 [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 839 | 677 |
Impaired financing receivable with no related allowance, unpaid principal balance | 879 | 739 |
Impaired financing receivable with related allowance, recorded investment | 196 | 303 |
Impaired financing receivable with related allowance, unpaid principal balance | 187 | 314 |
Impaired financing receivable, related allowance | 30 | 40 |
Impaired financing receivable, recorded investment | 1,035 | 980 |
Impaired financing receivable, unpaid principal balance | 1,066 | 1,053 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 3,739 | 124 |
Impaired financing receivable with no related allowance, unpaid principal balance | 3,774 | 142 |
Impaired financing receivable with related allowance, recorded investment | 9,405 | 9,668 |
Impaired financing receivable with related allowance, unpaid principal balance | 9,944 | 10,001 |
Impaired financing receivable, related allowance | 874 | 1,139 |
Impaired financing receivable, recorded investment | 13,144 | 9,792 |
Impaired financing receivable, unpaid principal balance | 13,718 | 10,143 |
Agriculture Real Estate [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 169 | 546 |
Impaired financing receivable with no related allowance, unpaid principal balance | 194 | 1,001 |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 |
Impaired financing receivable, recorded investment | 169 | 546 |
Impaired financing receivable, unpaid principal balance | 194 | 1,001 |
Commercial Portfolio Segment [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 276 | 233 |
Impaired financing receivable with no related allowance, unpaid principal balance | 320 | 269 |
Impaired financing receivable with related allowance, recorded investment | 0 | 97 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 98 |
Impaired financing receivable, related allowance | 0 | 60 |
Impaired financing receivable, recorded investment | 276 | 330 |
Impaired financing receivable, unpaid principal balance | 320 | 367 |
Agriculture [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 48 | 322 |
Impaired financing receivable with no related allowance, unpaid principal balance | 58 | 521 |
Impaired financing receivable with related allowance, recorded investment | 271 | 315 |
Impaired financing receivable with related allowance, unpaid principal balance | 294 | 315 |
Impaired financing receivable, related allowance | 83 | 132 |
Impaired financing receivable, recorded investment | 319 | 637 |
Impaired financing receivable, unpaid principal balance | 352 | 836 |
Consumer and Other [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 8 | 6 |
Impaired financing receivable with no related allowance, unpaid principal balance | 10 | 8 |
Impaired financing receivable with related allowance, recorded investment | 18 | 21 |
Impaired financing receivable with related allowance, unpaid principal balance | 20 | 23 |
Impaired financing receivable, related allowance | 18 | 21 |
Impaired financing receivable, recorded investment | 26 | 27 |
Impaired financing receivable, unpaid principal balance | $ 30 | $ 31 |
Note 7 - Loans Receivable and_9
Note 7 - Loans Receivable and Credit Disclosures - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Impaired financing receivable, with no related allowance, average recorded investment | $ 3,167 | $ 2,126 | $ 2,508 | $ 2,568 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 39 | 8 | 74 | 355 |
Impaired financing receivable, with related allowance, average recorded investment | 9,920 | 10,472 | 10,152 | 10,906 |
Impaired financing receivable, with related allowance, interest income, accrual method | 1 | 0 | 2 | 0 |
Impaired financing receivable, average recorded investment | 13,087 | 12,598 | 12,660 | 13,474 |
Impaired financing receivable, interest income, accrual method | 40 | 8 | 76 | 355 |
Construction Real Estate [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 0 | 0 | 0 | 84 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 0 | 0 | 0 | 84 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 0 | 0 |
Family Residential Real Estate 1-4 [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 781 | 813 | 722 | 587 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 39 | 8 | 55 | 19 |
Impaired financing receivable, with related allowance, average recorded investment | 98 | 164 | 206 | 336 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 1 | 0 |
Impaired financing receivable, average recorded investment | 879 | 977 | 928 | 923 |
Impaired financing receivable, interest income, accrual method | 39 | 8 | 56 | 19 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 1,929 | 132 | 1,026 | 162 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 297 |
Impaired financing receivable, with related allowance, average recorded investment | 9,500 | 9,922 | 9,584 | 9,969 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 11,429 | 10,054 | 10,610 | 10,131 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 0 | 297 |
Agriculture Real Estate [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 170 | 602 | 357 | 990 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 14 | 25 |
Impaired financing receivable, with related allowance, average recorded investment | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 170 | 602 | 357 | 990 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 14 | 25 |
Commercial Portfolio Segment [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 242 | 255 | 234 | 400 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 5 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 17 | 29 | 43 | 181 |
Impaired financing receivable, with related allowance, interest income, accrual method | 1 | 0 | 1 | 0 |
Impaired financing receivable, average recorded investment | 259 | 284 | 277 | 581 |
Impaired financing receivable, interest income, accrual method | 1 | 0 | 6 | 0 |
Agriculture [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 39 | 318 | 164 | 339 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 14 |
Impaired financing receivable, with related allowance, average recorded investment | 286 | 327 | 299 | 385 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 325 | 645 | 463 | 724 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 0 | 14 |
Consumer and Other [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 6 | 6 | 5 | 6 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 19 | 30 | 20 | 35 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 25 | 36 | 25 | 41 |
Impaired financing receivable, interest income, accrual method | $ 0 | $ 0 | $ 0 | $ 0 |
Note 7 - Loans Receivable an_10
Note 7 - Loans Receivable and Credit Disclosures - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | |
Financing receivable modifications, number of contracts | 0 | 1 | 0 | 5 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 6 | $ 0 | $ 642 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 6 | $ 0 | $ 642 |
Construction Real Estate [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 0 | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Family Residential Real Estate 1-4 [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 0 | 0 | 3 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 578 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 578 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 0 | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Agriculture Real Estate [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 0 | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 1 | 0 | 2 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 6 | $ 0 | $ 64 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 6 | $ 0 | $ 64 |
Agriculture [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 0 | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer and Other [Member] | ||||
Financing receivable modifications, number of contracts | 0 | 0 | 0 | 0 |
Financing receivable modifications, pre-modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Financing receivable modifications, post modification outstanding, recorded investment | $ 0 | $ 0 | $ 0 | $ 0 |
Note 7 - Loans Receivable an_11
Note 7 - Loans Receivable and Credit Disclosures - Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Loans receivable | $ 1,190,768 | $ 1,160,667 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 12 | 169 | |
Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 1,899 | 1,724 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 1,652 | 497 | |
Financial Asset, Past Due [Member] | |||
Loans receivable | 3,551 | 2,221 | |
Financial Asset, Not Past Due [Member] | |||
Loans receivable | 1,187,217 | 1,158,446 | |
Construction Real Estate [Member] | |||
Loans receivable | 42,816 | 42,638 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Construction Real Estate [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 305 | 0 | |
Construction Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Construction Real Estate [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 305 | 0 | |
Construction Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 42,511 | 42,638 | |
Family Residential Real Estate 1-4 [Member] | |||
Loans receivable | 281,046 | 246,745 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 7 | 169 | |
Family Residential Real Estate 1-4 [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 701 | 1,198 | |
Family Residential Real Estate 1-4 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 72 | 482 | |
Family Residential Real Estate 1-4 [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 773 | 1,680 | |
Family Residential Real Estate 1-4 [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 280,273 | 245,065 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 519,345 | 515,367 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 512 | 24 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 1,483 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 1,995 | 24 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 517,350 | 515,343 | |
Agriculture Real Estate [Member] | |||
Loans receivable | 159,099 | 153,457 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Agriculture Real Estate [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 0 | 30 | |
Agriculture Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Agriculture Real Estate [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 0 | 30 | |
Agriculture Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 159,099 | 153,427 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable | [1] | 73,554 | 75,482 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 276 | 251 | |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 75 | 15 | |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 351 | 266 | |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 73,203 | 75,216 | |
Agriculture [Member] | |||
Loans receivable | 98,914 | 111,881 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Agriculture [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 67 | 172 | |
Agriculture [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 12 | 0 | |
Agriculture [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 79 | 172 | |
Agriculture [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 98,835 | 111,709 | |
Consumer and Other [Member] | |||
Loans receivable | 15,994 | 15,097 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 5 | 0 | |
Consumer and Other [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Loans receivable | 38 | 49 | |
Consumer and Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 10 | 0 | |
Consumer and Other [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 48 | 49 | |
Consumer and Other [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | $ 15,946 | $ 15,048 | |
[1]Commercial loan portfolio includes $0.3 million and $6.0 million of Paycheck Protection Program ("PPP") loans as of March 31, 2022 and December 31, 2021, respectively. |
Note 7 - Loans Receivable an_12
Note 7 - Loans Receivable and Credit Disclosures - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loan and lease receivable other than consumer and residential | $ 893,728 | $ 898,825 |
Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 737,302 | 704,686 |
Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 114,015 | 132,772 |
Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 15,030 |
Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 28,503 | 35,032 |
Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 13,908 | 11,305 |
Construction Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 42,816 | 42,638 |
Construction Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 42,588 | 38,753 |
Construction Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 228 | 239 |
Construction Real Estate [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Construction Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 3,646 |
Construction Real Estate [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 519,345 | 515,367 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 413,090 | 381,346 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 71,674 | 99,127 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 3,085 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 21,437 | 22,017 |
Commercial Real Estate Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 13,144 | 9,792 |
Agriculture Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 159,099 | 153,457 |
Agriculture Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 134,873 | 126,157 |
Agriculture Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 19,105 | 17,853 |
Agriculture Real Estate [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 3,519 |
Agriculture Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 4,952 | 5,382 |
Agriculture Real Estate [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 169 | 546 |
Commercial Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 73,554 | 75,482 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 65,221 | 63,141 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 6,452 | 8,132 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 762 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 1,605 | 3,117 |
Commercial Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 276 | 330 |
Agriculture [Member] | ||
Loan and lease receivable other than consumer and residential | 98,914 | 111,881 |
Agriculture [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 81,530 | 95,289 |
Agriculture [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 16,556 | 7,421 |
Agriculture [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 7,664 |
Agriculture [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 509 | 870 |
Agriculture [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | $ 319 | $ 637 |
Note 7 - Loans Receivable an_13
Note 7 - Loans Receivable and Credit Disclosures - Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loan and lease receivable, consumer and residential | $ 297,040 | $ 261,842 |
Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 295,975 | 260,665 |
Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 1,065 | 1,177 |
Family Residential Real Estate 1-4 [Member] | ||
Loan and lease receivable, consumer and residential | 281,046 | 246,745 |
Family Residential Real Estate 1-4 [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 280,011 | 245,598 |
Family Residential Real Estate 1-4 [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 1,035 | 1,147 |
Consumer and Other [Member] | ||
Loan and lease receivable, consumer and residential | 15,994 | 15,097 |
Consumer and Other [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 15,964 | 15,067 |
Consumer and Other [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | $ 30 | $ 30 |
Note 8 - Intangible Assets (Det
Note 8 - Intangible Assets (Details Textual) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Weighted Average [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | 4 years |
Note 8 - Intangible Assets - In
Note 8 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Intangible asset, gross amount | $ 6,946 | $ 6,946 |
Intangible asset, accumulated amortization | 4,879 | 4,441 |
Core Deposits [Member] | ||
Intangible asset, gross amount | 6,411 | 6,411 |
Intangible asset, accumulated amortization | 4,422 | 4,043 |
Customer Lists [Member] | ||
Intangible asset, gross amount | 535 | 535 |
Intangible asset, accumulated amortization | $ 457 | $ 398 |
Note 8 - Intangible Assets - _2
Note 8 - Intangible Assets - Intangible Assets Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Beginning intangible assets, net | $ 2,212 | $ 2,813 | $ 2,505 | $ 3,133 |
Amortization | (145) | (159) | (438) | (479) |
Ending intangible assets, net | $ 2,067 | $ 2,654 | $ 2,067 | $ 2,654 |
Note 8 - Intangible Assets - Es
Note 8 - Intangible Assets - Estimated Remaining Amortization Expense (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
2022 | $ 136 | |||||
2023 | 502 | |||||
2024 | 337 | |||||
2025 | 300 | |||||
2026 | 268 | |||||
2027 | 240 | |||||
After | 284 | |||||
Total | $ 2,067 | $ 2,212 | $ 2,505 | $ 2,654 | $ 2,813 | $ 3,133 |
Note 9 - Pledged Collateral R_3
Note 9 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements - Pledged Collateral at Estimated Fair Value (Details) - Asset Pledged as Collateral [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Maturity Overnight [Member] | ||
Securities sold under agreements to repurchase | $ 51,078 | |
Maturity Overnight [Member] | US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 6,467 | |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 35,966 | |
Maturity Overnight [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | $ 8,645 | |
Maturity Greater than 90 Days [Member] | ||
Securities sold under agreements to repurchase | $ 54,143 | |
Maturity Greater than 90 Days [Member] | US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 4,971 | |
Maturity Greater than 90 Days [Member] | US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 38,045 | |
Maturity Greater than 90 Days [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | $ 11,127 |
Note 10 - Borrowings (Details T
Note 10 - Borrowings (Details Textual) - USD ($) $ in Thousands | Jun. 06, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Federal Home Loan Bank, Advance, Maturity, Year One, Total | $ 23,600 | ||
Long-Term Federal Home Loan Bank Advances, Total | $ 3,000 | ||
Promissory Note [Member] | |||
Debt Instrument, Face Amount | $ 4,000 | ||
Debt Instrument, Term (Year) | 5 years | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.35% | ||
Long-Term Debt, Total | $ 3,900 | $ 0 |
Note 11 - Derivative Financia_3
Note 11 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Interest Rate Swap [Member] | Fair Value Hedging [Member] | ||
Collateral Already Posted, Aggregate Fair Value | $ 1 | $ 1.5 |
Note 11 - Derivative Financia_4
Note 11 - Derivative Financial Instruments - Fair Value Hedges (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Other Assets [Member] | ||
Fair value hedges | $ 9,408 | |
Fair value hedges, Assets | $ 1,165 | |
Other Liabilities [Member] | ||
Fair value hedges | $ 20,399 | |
Fair value hedges, Liabilities | $ (527) |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
State and Local Jurisdiction [Member] | Iowa Department of Revenue [Member] | |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 780 |
Note 13 - Commitments, Contin_2
Note 13 - Commitments, Contingencies and Concentrations of Credit Risk (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Jun. 09, 2022 |
Commitment To Remodel Branch in Ames, Iowa [Member] | ||
Other Commitment, Total | $ 3.2 | $ 3.7 |
Note 14 - Regulatory Matters (D
Note 14 - Regulatory Matters (Details Textual) | Sep. 30, 2022 |
Banking Regulation, Capital Conservation Buffer, Total Risk-Based Capital, Actual | 0.025 |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier 1 Risk-Based Capital, Actual | 0.025 |
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 |
Note 14 - Regulatory Matters -
Note 14 - Regulatory Matters - Actual Capital Amounts and Ratios (Details) $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Capital | $ 213,649 | $ 208,480 |
Capital to risk weighted assets | 0.146 | 0.148 |
Capital required for capital adequacy | $ 153,337 | $ 146,881 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Tier one risk based capital | $ 196,922 | $ 191,161 |
Tier one risk based capital to risk weighted assets | 0.135 | 0.137 |
Tier one risk based capital required for capital adequacy | $ 124,130 | $ 118,904 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one leverage capital | $ 196,922 | $ 191,161 |
Tier one leverage capital to average assets | 0.091 | 0.090 |
Tier one leverage capital required for capital adequacy | $ 86,685 | $ 84,585 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Common equity tier one capital | $ 196,922 | $ 191,161 |
Common equity tier one risk based capital to risk weighted assets | 0.135 | 0.137 |
Common equity tier one capital required for capital adequacy | $ 102,225 | $ 97,921 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Boone Bank and Trust [Member] | ||
Capital | $ 15,864 | $ 15,603 |
Capital to risk weighted assets | 0.127 | 0.142 |
Capital required for capital adequacy | $ 13,148 | $ 11,562 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Capital required to be well capitalized | $ 12,522 | $ 11,012 |
Capital required to be well capitalized to risk weighted assets | 0.100 | 0.100 |
Tier one risk based capital | $ 14,932 | $ 14,652 |
Tier one risk based capital to risk weighted assets | 0.119 | 0.133 |
Tier one risk based capital required for capital adequacy | $ 10,644 | $ 9,360 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one risk based capital required to be well capitalized | $ 10,018 | $ 8,809 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | 0.080 |
Tier one leverage capital | $ 14,932 | $ 14,652 |
Tier one leverage capital to average assets | 0.090 | 0.090 |
Tier one leverage capital required for capital adequacy | $ 6,654 | $ 6,525 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Tier one leverage capital required to be well capitalized | $ 8,318 | $ 8,157 |
Tier one leverage capital required to be well capitalized to average assets | 0.050 | 0.050 |
Common equity tier one capital | $ 14,932 | $ 14,652 |
Common equity tier one risk based capital to risk weighted assets | 0.119 | 0.133 |
Common equity tier one capital required for capital adequacy | $ 8,766 | $ 7,708 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Common equity tier one capital required to be well capitalized | $ 8,139 | $ 7,158 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
First National Bank [Member] | Also Conducts Business Out of 3 Full Service Offices in Des Moines Metro Area [Member] | ||
Capital | $ 109,914 | $ 104,608 |
Capital to risk weighted assets | 0.148 | 0.145 |
Capital required for capital adequacy | $ 78,045 | $ 75,832 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Capital required to be well capitalized | $ 74,328 | $ 72,221 |
Capital required to be well capitalized to risk weighted assets | 0.100 | 0.100 |
Tier one risk based capital | $ 100,627 | $ 95,573 |
Tier one risk based capital to risk weighted assets | 0.135 | 0.132 |
Tier one risk based capital required for capital adequacy | $ 63,179 | $ 61,388 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one risk based capital required to be well capitalized | $ 59,463 | $ 57,777 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | 0.080 |
Tier one leverage capital | $ 100,627 | $ 95,573 |
Tier one leverage capital to average assets | 0.090 | 0.087 |
Tier one leverage capital required for capital adequacy | $ 44,824 | $ 44,333 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Tier one leverage capital required to be well capitalized | $ 56,030 | $ 55,416 |
Tier one leverage capital required to be well capitalized to average assets | 0.050 | 0.050 |
Common equity tier one capital | $ 100,627 | $ 95,573 |
Common equity tier one risk based capital to risk weighted assets | 0.135 | 0.132 |
Common equity tier one capital required for capital adequacy | $ 52,030 | $ 50,555 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Common equity tier one capital required to be well capitalized | $ 48,313 | $ 46,944 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
Iowa State Savings Bank [Member] | ||
Capital | $ 24,918 | $ 24,008 |
Capital to risk weighted assets | 0.156 | 0.159 |
Capital required for capital adequacy | $ 16,784 | $ 15,895 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Capital required to be well capitalized | $ 15,985 | $ 15,138 |
Capital required to be well capitalized to risk weighted assets | 0.100 | 0.100 |
Tier one risk based capital | $ 23,735 | $ 22,747 |
Tier one risk based capital to risk weighted assets | 0.148 | 0.150 |
Tier one risk based capital required for capital adequacy | $ 13,587 | $ 12,868 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one risk based capital required to be well capitalized | $ 12,788 | $ 12,111 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | 0.080 |
Tier one leverage capital | $ 23,735 | $ 22,747 |
Tier one leverage capital to average assets | 0.091 | 0.091 |
Tier one leverage capital required for capital adequacy | $ 10,411 | $ 10,102 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Tier one leverage capital required to be well capitalized | $ 13,014 | $ 12,628 |
Tier one leverage capital required to be well capitalized to average assets | 0.050 | 0.050 |
Common equity tier one capital | $ 23,735 | $ 22,747 |
Common equity tier one risk based capital to risk weighted assets | 0.148 | 0.150 |
Common equity tier one capital required for capital adequacy | $ 11,189 | $ 10,597 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Common equity tier one capital required to be well capitalized | $ 10,390 | $ 9,840 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
Reliance State Bank [Member] | Conducts Business Out of Offices at Story City, Garner, and Kleme, Iowa [Member] | ||
Capital | $ 28,124 | $ 27,292 |
Capital to risk weighted assets | 0.135 | 0.136 |
Capital required for capital adequacy | $ 21,898 | $ 21,136 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Capital required to be well capitalized | $ 20,855 | $ 20,129 |
Capital required to be well capitalized to risk weighted assets | 0.100 | 0.100 |
Tier one risk based capital | $ 25,544 | $ 24,774 |
Tier one risk based capital to risk weighted assets | 0.122 | 0.123 |
Tier one risk based capital required for capital adequacy | $ 17,727 | $ 17,110 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one risk based capital required to be well capitalized | $ 16,684 | $ 16,103 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | 0.080 |
Tier one leverage capital | $ 25,544 | $ 24,774 |
Tier one leverage capital to average assets | 0.087 | 0.088 |
Tier one leverage capital required for capital adequacy | $ 11,782 | $ 11,396 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Tier one leverage capital required to be well capitalized | $ 14,728 | $ 14,245 |
Tier one leverage capital required to be well capitalized to average assets | 0.050 | 0.050 |
Common equity tier one capital | $ 25,544 | $ 24,774 |
Common equity tier one risk based capital to risk weighted assets | 0.122 | 0.123 |
Common equity tier one capital required for capital adequacy | $ 14,599 | $ 14,091 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Common equity tier one capital required to be well capitalized | $ 13,556 | $ 13,084 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
State Bank and Trust [Member] | ||
Capital | $ 21,793 | $ 20,885 |
Capital to risk weighted assets | 0.149 | 0.152 |
Capital required for capital adequacy | $ 15,349 | $ 14,416 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Capital required to be well capitalized | $ 14,618 | $ 13,730 |
Capital required to be well capitalized to risk weighted assets | 0.100 | 0.100 |
Tier one risk based capital | $ 20,181 | $ 19,231 |
Tier one risk based capital to risk weighted assets | 0.138 | 0.140 |
Tier one risk based capital required for capital adequacy | $ 12,425 | $ 11,670 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one risk based capital required to be well capitalized | $ 11,694 | $ 10,984 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | 0.080 |
Tier one leverage capital | $ 20,181 | $ 19,231 |
Tier one leverage capital to average assets | 0.088 | 0.091 |
Tier one leverage capital required for capital adequacy | $ 9,132 | $ 8,469 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Tier one leverage capital required to be well capitalized | $ 11,415 | $ 10,586 |
Tier one leverage capital required to be well capitalized to average assets | 0.050 | 0.050 |
Common equity tier one capital | $ 20,181 | $ 19,231 |
Common equity tier one risk based capital to risk weighted assets | 0.138 | 0.140 |
Common equity tier one capital required for capital adequacy | $ 10,233 | $ 9,611 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Common equity tier one capital required to be well capitalized | $ 9,502 | $ 8,924 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |
United Bank and Trust [Member] | ||
Capital | $ 12,450 | $ 12,001 |
Capital to risk weighted assets | 0.151 | 0.157 |
Capital required for capital adequacy | $ 8,663 | $ 8,039 |
Capital required for capital adequacy to risk weighted assets | 10.50% | 10.50% |
Capital required to be well capitalized | $ 8,250 | $ 7,657 |
Capital required to be well capitalized to risk weighted assets | 0.100 | 0.100 |
Tier one risk based capital | $ 11,418 | $ 11,042 |
Tier one risk based capital to risk weighted assets | 0.138 | 0.144 |
Tier one risk based capital required for capital adequacy | $ 7,013 | $ 6,508 |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | 8.50% |
Tier one risk based capital required to be well capitalized | $ 6,600 | $ 6,125 |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | 0.080 |
Tier one leverage capital | $ 11,418 | $ 11,042 |
Tier one leverage capital to average assets | 0.085 | 0.089 |
Tier one leverage capital required for capital adequacy | $ 5,370 | $ 4,955 |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | 0.0400 |
Tier one leverage capital required to be well capitalized | $ 6,713 | $ 6,193 |
Tier one leverage capital required to be well capitalized to average assets | 0.050 | 0.050 |
Common equity tier one capital | $ 11,418 | $ 11,042 |
Common equity tier one risk based capital to risk weighted assets | 0.138 | 0.144 |
Common equity tier one capital required for capital adequacy | $ 5,775 | $ 5,360 |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7% | 7% |
Common equity tier one capital required to be well capitalized | $ 5,363 | $ 4,977 |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | 6.50% |