Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Jul. 28, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001303942 | |
Entity Registrant Name | BankFinancial CORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 0-51331 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 75-3199276 | |
Entity Address, Address Line One | 60 North Frontage Road | |
Entity Address, City or Town | Burr Ridge | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60527 | |
City Area Code | 800 | |
Local Phone Number | 894-6900 | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Trading Symbol | BFIN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 12,460,678 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and due from other financial institutions | $ 19,505 | $ 19,781 |
Interest-bearing deposits in other financial institutions | 132,273 | 158,703 |
Cash and cash equivalents | 151,778 | 178,484 |
Interest-bearing time deposits in other financial institutions | 34,913 | 29,513 |
Securities, at fair value | 222,906 | 153,203 |
Loans receivable, net of allowance for credit losses: June 30, 2024, $8,142 and December 31, 2023, $8,345 | 987,745 | 1,050,761 |
Foreclosed assets, net | 1,898 | 2,777 |
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost | 7,490 | 7,490 |
Premises held-for-sale | 0 | 523 |
Premises and equipment, net | 22,765 | 22,950 |
Accrued interest receivable | 9,343 | 7,542 |
Bank-owned life insurance | 18,291 | 18,469 |
Deferred taxes | 4,019 | 4,512 |
Other assets | 16,542 | 11,160 |
Total assets | 1,477,690 | 1,487,384 |
Liabilities | ||
Noninterest-bearing | 262,585 | 260,851 |
Interest-bearing | 989,688 | 1,000,772 |
Total deposits | 1,252,273 | 1,261,623 |
Borrowings | 25,000 | 25,000 |
Subordinated notes, net of unamortized issuance costs | 18,715 | 19,678 |
Advance payments by borrowers for taxes and insurance | 10,329 | 9,003 |
Accrued interest payable and other liabilities | 13,895 | 16,697 |
Total liabilities | 1,320,212 | 1,332,001 |
Stockholders’ equity | ||
Preferred stock, $0.01 par value, 25,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $0.01 par value, 100,000,000 shares authorized; 12,460,678 shares issued at June 30, 2024 and 12,475,881 shares issued at December 31, 2023 | 125 | 125 |
Additional paid-in capital | 83,301 | 83,457 |
Retained earnings | 75,777 | 74,426 |
Accumulated other comprehensive loss | (1,725) | (2,625) |
Total stockholders’ equity | 157,478 | 155,383 |
Total liabilities and stockholders’ equity | $ 1,477,690 | $ 1,487,384 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Allowance for loan losses | $ 8,142 | $ 8,345 |
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common Stock, shares issued (in shares) | 12,460,678 | 12,475,881 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | ||
Interest and dividend income | |||||
Loans, including fees | $ 13,349,000 | $ 14,345,000 | $ 26,702,000 | $ 28,738,000 | |
us-gaap_InterestAndDividendIncomeSecuritiesByTaxableStatusAbstract | |||||
Taxable | 50,000 | 50,000 | 101,000 | 99,000 | |
Tax exempt | 2,234,000 | 766,000 | 3,452,000 | 1,806,000 | |
Other | 2,022,000 | 1,017,000 | 4,745,000 | 1,695,000 | |
Total interest income | 17,655,000 | 16,178,000 | 35,000,000 | 32,338,000 | |
Interest expense | |||||
Deposits | 4,624,000 | 2,761,000 | 8,960,000 | 5,061,000 | |
Borrowings and Subordinated notes | 455,000 | 474,000 | 937,000 | 834,000 | |
Total interest expense | 5,079,000 | 3,235,000 | 9,897,000 | 5,895,000 | |
Net interest income | 12,576,000 | 12,943,000 | 25,103,000 | 26,443,000 | |
Recovery of credit losses - loans | (98,000) | (180,000) | (37,000) | (95,000) | |
Recovery of credit losses - unfunded commitments | (24,000) | (8,000) | (73,000) | (45,000) | |
Recovery of credit losses | (122,000) | (188,000) | (110,000) | (140,000) | |
Net interest income after recovery of credit losses | 12,698,000 | 13,131,000 | 25,213,000 | 26,583,000 | |
Noninterest income | |||||
Deposit service charges and fees | 834,000 | 830,000 | 1,643,000 | 1,646,000 | |
Loan servicing fees | [1] | 97,000 | 141,000 | 253,000 | 270,000 |
Trust and insurance commissions and annuities income | 349,000 | 276,000 | 799,000 | 643,000 | |
Losses on sales of securities | [1] | 0 | 0 | 0 | (454,000) |
(Loss) gain on sale of premises and equipment | (9,000) | 13,000 | (84,000) | 9,000 | |
Valuation adjustment on bank premises held-for-sale | [1] | 0 | (32,000) | 0 | (585,000) |
Loss on bank-owned life insurance | (91,000) | (87,000) | (178,000) | (171,000) | |
Gain on repurchase of Subordinated notes | [1] | 0 | 0 | 107,000 | 0 |
Other | [1] | 96,000 | 98,000 | 197,000 | 194,000 |
Total noninterest income | 1,276,000 | 1,239,000 | 2,737,000 | 1,552,000 | |
Noninterest expense | |||||
Compensation and benefits | 5,943,000 | 5,629,000 | 11,995,000 | 11,184,000 | |
Office occupancy and equipment | 1,861,000 | 2,031,000 | 4,102,000 | 4,069,000 | |
Advertising and public relations | 112,000 | 269,000 | 202,000 | 459,000 | |
Information technology | 1,049,000 | 965,000 | 2,051,000 | 1,814,000 | |
Professional fees | 382,000 | 348,000 | 836,000 | 665,000 | |
Supplies, telephone, and postage | 292,000 | 295,000 | 578,000 | 654,000 | |
FDIC insurance premiums | 144,000 | 282,000 | 305,000 | 436,000 | |
Other | 1,352,000 | 1,401,000 | 2,832,000 | 2,231,000 | |
Total noninterest expense | 11,135,000 | 11,220,000 | 22,901,000 | 21,512,000 | |
Income before income taxes | 2,839,000 | 3,150,000 | 5,049,000 | 6,623,000 | |
Income tax expense | 705,000 | 838,000 | 1,205,000 | 1,678,000 | |
Net income | $ 2,134,000 | $ 2,312,000 | $ 3,844,000 | $ 4,945,000 | |
Basic and diluted earnings per common share (in dollars per share) | $ 0.17 | $ 0.18 | $ 0.31 | $ 0.39 | |
Basic and diluted weighted average common shares outstanding (in shares) | 12,460,678 | 12,667,129 | 12,464,365 | 12,694,334 | |
[1]Not within the scope of ASC 606 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net income | $ 2,134 | $ 2,312 | $ 3,844 | $ 4,945 |
Unrealized holding gain (loss) on securities arising during the period | 756 | (480) | 1,216 | 1,161 |
Tax effect | (197) | 125 | (316) | (302) |
Unrealized holding gain (loss) on securities, net of tax | 559 | (355) | 900 | 859 |
Reclassification adjustment for loss included in net income | 0 | 0 | 0 | 454 |
Tax effect, included in income tax expense | 0 | 0 | 0 | (119) |
Reclassification adjustment for loss included in net income, net of tax | 0 | 0 | 0 | 335 |
Other comprehensive gain (loss), net of tax | 559 | (355) | 900 | 1,194 |
Comprehensive income | $ 2,693 | $ 1,957 | $ 4,744 | $ 6,139 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ 0 | $ (1,719) | $ 0 | $ (1,719) | |||||
Balance at Dec. 31, 2022 | $ 127 | $ 85,848 | $ 71,808 | $ (6,112) | $ 151,671 | |||||
Net income | 0 | 0 | 4,945 | 0 | 4,945 | |||||
Other comprehensive loss, net of tax effect | 0 | 0 | 0 | 1,194 | 1,194 | |||||
Repurchase and retirement of common stock | (1) | (1,245) | 0 | 0 | (1,246) | |||||
Cash dividends declared on common stock | 0 | 0 | (2,542) | 0 | (2,542) | |||||
Balance at Jun. 30, 2023 | 126 | 84,603 | 72,492 | (4,918) | 152,303 | |||||
Balance at Mar. 31, 2023 | 127 | 85,346 | 71,449 | (4,563) | 152,359 | |||||
Net income | 0 | 0 | 2,312 | 0 | 2,312 | |||||
Other comprehensive loss, net of tax effect | 0 | 0 | 0 | (355) | (355) | |||||
Repurchase and retirement of common stock | (1) | (743) | 0 | 0 | (744) | |||||
Cash dividends declared on common stock | 0 | 0 | (1,269) | 0 | (1,269) | |||||
Balance at Jun. 30, 2023 | 126 | 84,603 | 72,492 | (4,918) | 152,303 | |||||
Balance at Dec. 31, 2023 | 125 | 83,457 | 74,426 | (2,625) | 155,383 | |||||
Net income | 0 | 0 | 3,844 | 0 | 3,844 | |||||
Other comprehensive loss, net of tax effect | 0 | 0 | 0 | 900 | 900 | |||||
Repurchase and retirement of common stock | 0 | (156) | 0 | 0 | (156) | |||||
Cash dividends declared on common stock | 0 | 0 | (2,493) | 0 | (2,493) | |||||
Balance at Jun. 30, 2024 | 125 | 83,301 | 75,777 | (1,725) | 157,478 | |||||
Balance at Mar. 31, 2024 | 125 | 83,301 | 74,889 | (2,284) | 156,031 | |||||
Net income | 0 | 0 | 2,134 | 0 | 2,134 | |||||
Other comprehensive loss, net of tax effect | 0 | 0 | 0 | 559 | 559 | |||||
Cash dividends declared on common stock | 0 | 0 | (1,246) | 0 | (1,246) | |||||
Balance at Jun. 30, 2024 | $ 125 | $ 83,301 | $ 75,777 | $ (1,725) | $ 157,478 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Repurchase and retirement of common stock (in shares) | 93,515 | 15,203 | 142,119 | |
Cash dividends declared on common stock (in dollars per share) | $ 0.1 | $ 0.1 | $ 0.2 | $ 0.2 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | ||
Cash flows from operating activities | |||
Net income | $ 3,844,000 | $ 4,945,000 | |
Adjustments to reconcile net income to net cash from operating activities | |||
Recovery of credit losses - loans | (37,000) | (95,000) | |
Recovery of credit losses - unfunded commitments | (73,000) | (45,000) | |
Depreciation and amortization | 810,000 | 644,000 | |
Net change in net deferred loan origination costs | 206,000 | (110,000) | |
Losses on sales of securities | [1] | 0 | 454,000 |
Valuation adjustment on bank premises held-for-sale | [1] | 0 | 585,000 |
Loss (gain) on disposal of premises and equipment | 84,000 | (9,000) | |
Loss on sale of foreclosed assets | 227,000 | 15,000 | |
Foreclosed assets write down | 0 | 70,000 | |
Loss on bank-owned life insurance | 178,000 | 171,000 | |
Gain on redemption of Subordinated notes | [1] | (107,000) | 0 |
Net change in: | |||
Accrued interest receivable | (1,801,000) | (1,161,000) | |
Other assets | 279,000 | 847,000 | |
Accrued interest payable and other liabilities | (3,308,000) | (5,986,000) | |
Net cash from operating activities | 302,000 | 325,000 | |
Cash flows (used in) from investing activities | |||
Net change in interest-bearing time deposits in other financial institutions | (5,400,000) | (744,000) | |
Proceeds from maturities | 61,580,000 | 0 | |
Proceeds from principal repayments | 260,000 | 378,000 | |
Proceeds from sale of securities | 0 | 42,631,000 | |
Purchases of securities | (134,985,000) | 0 | |
Net change in loans receivable | 62,771,000 | 53,322,000 | |
Proceeds from sale of foreclosed assets | 701,000 | 362,000 | |
Proceeds from sale of premises and equipment | 537,000 | 690,000 | |
Purchase of premises and equipment, net | (893,000) | (830,000) | |
Net cash (used in) from investing activities | (15,429,000) | 95,809,000 | |
Cash flows used in financing activities | |||
Deposits | (9,350,000) | (71,214,000) | |
Advance payments by borrowers for taxes and insurance | 1,326,000 | 2,428,000 | |
Proceeds from Federal Home Loan Bank advances | 0 | 35,000,000 | |
Repayments of Federal Home Loan Bank advances | 0 | (10,000,000) | |
Proceeds from repurchase of Subordinated notes | (906,000) | 0 | |
Repurchase and retirement of common stock | (156,000) | (1,246,000) | |
Cash dividends paid on common stock | (2,493,000) | (2,542,000) | |
Net cash used in financing activities | (11,579,000) | (47,574,000) | |
Net change in cash and cash equivalents | (26,706,000) | 48,560,000 | |
Beginning cash and cash equivalents | 178,484,000 | 66,771,000 | |
Ending cash and cash equivalents | 151,778,000 | 115,331,000 | |
Supplemental disclosures of cash flow information: | |||
Interest paid | 9,924,000 | 5,754,000 | |
Income taxes paid | 1,202,000 | 2,260,000 | |
Income taxes refunded | 0 | 20,000 | |
Assets transferred to premises held-for-sale | 0 | 1,799,000 | |
Loans transferred to foreclosed assets | 49,000 | 921,000 | |
Due from broker | 9,375,000 | 0 | |
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities | $ 592,000 | $ 0 | |
[1]Not within the scope of ASC 606 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 Basis of Presentation three six June 30, 2024 not may December 31, 2024 Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Use of Estimates Factored Receivables: 4 may third June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Factoring fees are recognized in interest income as incurred by the customer and deducted from the customer's reserve balances. Other factoring-related fees, which include wire transfer fees, broker fees, and other similar fees, are reported by the Company as loan servicing fees in noninterest income. Interest-Bearing Time Deposits in other Financial Institutions: i 90 Reclassifications no These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2023 Newly Issued Not December 2023, 2023 09, 740 Improvements to Income Tax Disclosures December 15, 2024, December 15, 2025. not |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 2 Amounts reported in earnings per share reflect earnings available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the period. Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income available to common stockholders $ 2,134 $ 2,312 $ 3,844 $ 4,945 Basic and diluted weighted average common shares outstanding 12,460,678 12,667,129 12,464,365 12,694,334 Basic and diluted earnings per common share $ 0.17 $ 0.18 $ 0.31 $ 0.39 |
Note 3 - Securities
Note 3 - Securities | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss is as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale Securities June 30, 2024 Municipal securities $ 929 $ — $ (4 ) $ 925 U.S. Treasury Notes 77,128 — (2,069 ) 75,059 U.S. government-sponsored agencies 142,987 3 (174 ) 142,816 Mortgage-backed securities - residential 3,255 27 (98 ) 3,184 Collateralized mortgage obligations - residential 938 — (16 ) 922 $ 225,237 $ 30 $ (2,361 ) $ 222,906 December 31, 2023 Municipal securities $ 930 $ 12 $ (8 ) $ 934 U.S. Treasury Notes 115,920 — (3,412 ) 112,508 U.S. government-sponsored agencies 35,446 7 (62 ) 35,391 Mortgage-backed securities - residential 3,431 27 (91 ) 3,367 Collateralized mortgage obligations - residential 1,023 — (20 ) 1,003 $ 156,750 $ 46 $ (3,593 ) $ 153,203 Mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities and agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support. The amortized cost and fair values of securities available-for-sale by contractual maturity are shown below. Securities not may may June 30, 2024 Amortized Cost Fair Value Due in one year or less $ 104,022 $ 102,671 Due after one year through five years 117,022 116,129 221,044 218,800 Mortgage-backed securities - residential 3,255 3,184 Collateralized mortgage obligations - residential 938 922 $ 225,237 $ 222,906 Securities available-for-sale with unrealized losses not Less than 12 Months 12 Months or More Total Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss June 30, 2024 Municipal securities 1 $ 603 $ (1 ) 1 $ 221 $ (3 ) 2 $ 824 $ (4 ) U.S. Treasury Notes — — — 115 75,059 (2,069 ) 115 75,059 (2,069 ) U.S. government-sponsored agencies 15 124,837 (159 ) 2 7,985 (15 ) 17 132,822 (174 ) Mortgage-backed securities - residential — — — 12 2,236 (98 ) 12 2,236 (98 ) Collateralized mortgage obligations - residential — — — 5 922 (16 ) 5 922 (16 ) 16 $ 125,440 $ (160 ) 135 $ 86,423 $ (2,201 ) 151 $ 211,863 $ (2,361 ) December 31, 2023 Municipal securities — $ — $ — 1 $ 217 $ (8 ) 1 $ 217 $ (8 ) U.S. Treasury Notes — — — 170 112,508 (3,412 ) 170 112,508 (3,412 ) U.S. government-sponsored agencies 2 8,987 (13 ) 4 17,951 (49 ) 6 26,938 (62 ) Mortgage-backed securities - residential — — — 17 2,627 (91 ) 17 2,627 (91 ) Collateralized mortgage obligations - residential — — — 6 1,003 (20 ) 6 1,003 (20 ) 2 $ 8,987 $ (13 ) 198 $ 134,306 $ (3,580 ) 200 $ 143,293 $ (3,593 ) U.S. Treasury Notes, U.S. government-sponsored agencies and the other available-for-sale securities reflected in the above table that the Company holds in its investment portfolio were in an unrealized loss position at June 30, 2024 not uality, not We reviewed the available-for-sale securities in an unrealized loss position within the guidelines of Accounting Standards Codification (“ASC”) 326 no The proceeds from sales of securities and the associated losses were as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Proceeds $ — $ — $ — $ 42,631 Gross gains — — — — Gross losses — — — (454 ) |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 The summary of loans receivable by class of loans is as follows: June 30, 2024 December 31, 2023 One-to-four family residential real estate $ 17,707 $ 18,945 Multi-family residential real estate 527,542 527,460 Nonresidential real estate 109,635 118,016 Commercial loans and leases 339,216 393,321 Consumer 1,787 1,364 995,887 1,059,106 Allowance for credit losses (8,142 ) (8,345 ) Loans, net $ 987,745 $ 1,050,761 Net deferred loan origination costs included in the table above were $1.5 million and $1.7 million as of June 30, 2024 December 31, 2023 Allowance for Credit Losses - Loans The following table represents the activity in the Allowance for Credit Losses (“ACL”) by class of loans: One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total For the three months ended June 30, 2024 Beginning balance $ 331 $ 4,819 $ 1,444 $ 1,621 $ 34 $ 8,249 Provision for (recovery of) credit losses (9 ) 20 (47 ) (94 ) 32 (98 ) Loans charged off — — — (10 ) (12 ) (22 ) Recoveries 2 4 — 7 — 13 $ 324 $ 4,843 $ 1,397 $ 1,524 $ 54 $ 8,142 June 30, 2023 Beginning balance $ 354 $ 4,714 $ 1,347 $ 3,576 $ 41 $ 10,032 Recovery of credit losses (35 ) (41 ) (102 ) (1 ) (1 ) (180 ) Loans charged off — — — (638 ) (7 ) (645 ) Recoveries 7 6 — 6 — 19 $ 326 $ 4,679 $ 1,245 $ 2,943 $ 33 $ 9,226 One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total For the six months ended June 30, 2024 Beginning balance $ 295 $ 4,549 $ 1,166 $ 2,303 $ 32 $ 8,345 Provision for (recovery of) credit losses 24 284 231 (623 ) 47 (37 ) Loans charged off — — — (168 ) (25 ) (193 ) Recoveries 5 10 — 12 — 27 $ 324 $ 4,843 $ 1,397 $ 1,524 $ 54 $ 8,142 June 30, 2023 Beginning balance, prior to adoption of ASC 326 $ 281 $ 4,017 $ 1,234 $ 2,548 $ 49 $ 8,129 Impact of adopting ASC 326 99 630 66 1,122 (10 ) 1,907 Beginning balance, after adoption of ASC 326 380 4,647 1,300 3,670 39 10,036 Provision for (recovery of) credit losses (66 ) 21 (55 ) (17 ) 22 (95 ) Loans charged off — — — (717 ) (29 ) (746 ) Recoveries 12 11 — 7 1 31 $ 326 $ 4,679 $ 1,245 $ 2,943 $ 33 $ 9,226 As of June 30, 2024 December 31, 2023 The following tables present the balance in the ACL and loans receivable by class of loans based on evaluation method. Allocation of a portion of the ACL to one not One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total June 30, 2024 Loans: Loans individually evaluated $ 57 $ — $ 380 $ 20,541 $ — $ 20,978 Loans collectively evaluated 17,650 527,542 109,255 318,675 1,787 974,909 $ 17,707 $ 527,542 $ 109,635 $ 339,216 $ 1,787 $ 995,887 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 324 4,843 1,397 1,524 54 8,142 $ 324 $ 4,843 $ 1,397 $ 1,524 $ 54 $ 8,142 One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total December 31, 2023 Loans: Loans individually evaluated $ 67 $ — $ — $ 21,982 $ — $ 22,049 Loans collectively evaluated 18,878 527,460 118,016 371,339 1,364 1,037,057 $ 18,945 $ 527,460 $ 118,016 $ 393,321 $ 1,364 $ 1,059,106 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 295 4,549 1,166 2,303 32 8,345 $ 295 $ 4,549 $ 1,166 $ 2,303 $ 32 $ 8,345 Collateral Dependent Loans Management's evaluation as to the ultimate collectability of loans includes estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Collateral dependent loans are loans in which repayment is expected to be provided solely by the underlying collateral and there are no y had $2.1 million and $3.2 million of collateral June 30, 2024 December 31, 2023 Individually Evaluated Loans The following tables present loans individually evaluated by class of loans: Three Months Ended Six Months Ended June 30, 2024 June 30, 2024 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized Average Investment Interest Income Recognized June 30, 2024 With no related allowance recorded: One-to-four family residential real estate $ 56 $ 57 $ — $ — $ 58 $ 1 $ 60 $ 1 Nonresidential real estate 366 380 — — 127 — 63 3 Commercial loans and leases 21,293 20,541 537 — 20,583 1 20,830 15 $ 21,715 $ 20,978 $ 537 $ — $ 20,768 $ 2 $ 20,953 $ 19 Year ended December 31, 2023 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized December 31, 2023 With no related allowance recorded: One-to-four family residential real estate $ 66 $ 67 $ — $ — $ 76 $ 4 Commercial loans and leases 23,954 21,982 450 — 16,542 35 $ 24,020 $ 22,049 $ 450 $ — $ 16,618 $ 39 Nonaccrual Loans The following tables present the recorded investment in nonaccrual loans and loans 90 Nonaccrual Loans Past Due Over 90 Days Still Accruing June 30, 2024 One-to-four family residential real estate $ 39 $ — Nonresidential real estate 380 — Commercial loans and leases 20,395 — $ 20,814 $ — December 31, 2023 One-to-four family residential real estate $ 37 $ — Commercial loans and leases 21,294 1,007 $ 21,331 $ 1,007 Nonaccrual loans and individually evaluated loans are defined differently. Some loans may may one The Company’s reserve for uncollected loan interest was $1.9 million and $1.4 million at June 30, 2024 December 31, 2023 Past Due Loans The following tables present the aging of the recorded investment of loans by portfolio segment: 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total June 30, 2024 One-to-four family residential real estate loans $ 13 $ — $ — $ 13 $ 39 $ 17,655 $ 17,707 Multi-family residential real estate: Senior notes — 107 — 107 — 487,966 488,073 Junior notes — — — — — 39,469 39,469 Nonresidential real estate: Owner occupied — — — — — 15,549 15,549 Non-owner occupied — — — — 380 93,706 94,086 Commercial loans and leases: Commercial 1,159 151 — 1,310 1,506 187,161 189,977 Equipment finance - Government 2,649 3,272 — 5,921 18,889 83,344 108,154 Equipment finance - Corporate Investment-grade — — — — — 41,085 41,085 Consumer 6 3 — 9 — 1,778 1,787 $ 3,827 $ 3,533 $ — $ 7,360 $ 20,814 $ 967,713 $ 995,887 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total December 31, 2023 One-to-four family residential real estate loans $ 12 $ 18 $ — $ 30 $ 37 $ 18,878 $ 18,945 Multi-family residential real estate: Senior notes — — — — — 485,281 485,281 Junior notes — — — — — 42,179 42,179 Nonresidential real estate: Owner occupied — — — — — 20,901 20,901 Non-owner occupied — — — — — 97,115 97,115 Commercial loans and leases: Commercial 234 26 666 926 2,285 208,770 211,981 Equipment finance - Government 3,147 5,028 — 8,175 18,956 105,134 132,265 Equipment finance - Corporate Investment-grade 7 — 341 348 53 48,674 49,075 Consumer 8 5 — 13 — 1,351 1,364 $ 3,408 $ 5,077 $ 1,007 $ 9,492 $ 21,331 $ 1,028,283 $ 1,059,106 At June 30, 2024 December 31, 2023 2022 02 “Financial Instruments—Credit Losses (Topic 326 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Risk ratings are updated any time the situation warrants. The Company uses the following definitions for risk ratings: Pass. Watch. not Special Mention. may not not Substandard. may not not Nonaccrual. one Based on the most recent analysis performed, the risk categories of loans by class of loans are as follows: Pass Watch Special Mention Substandard Substandard Nonaccrual Total June 30, 2024 One-to-four family residential real estate $ 17,434 $ 67 $ — $ 167 $ 39 $ 17,707 Multi-family residential real estate 522,856 3,265 — 1,421 — 527,542 Nonresidential real estate 105,106 3,259 433 457 380 109,635 Commercial loans and leases 291,274 13,033 11,360 3,154 20,395 339,216 Consumer 1,775 6 3 3 — 1,787 $ 938,445 $ 19,630 $ 11,796 $ 5,202 $ 20,814 $ 995,887 Pass Watch Special Mention Substandard Substandard Nonaccrual Total December 31, 2023 One-to-four family residential real estate $ 18,492 $ 144 $ — $ 272 $ 37 $ 18,945 Multi-family residential real estate 518,538 7,589 1,333 — — 527,460 Nonresidential real estate 114,155 3,861 — — — 118,016 Commercial loans and leases 340,623 16,761 10,587 4,056 21,294 393,321 Consumer 1,349 7 5 3 — 1,364 $ 993,157 $ 28,362 $ 11,925 $ 4,331 $ 21,331 $ 1,059,106 Term Loans Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving loans Total June 30, 2024 One-to-four family residential real estate loans: Risk-rating Pass $ — $ 487 $ — $ — $ 90 $ 13,375 $ 3,482 $ 17,434 Watch — — — — — 67 — 67 Substandard — — — — — 26 141 167 Nonaccrual — — — — — 23 16 39 $ — $ 487 $ — $ — $ 90 $ 13,491 $ 3,639 $ 17,707 One-to-four family residential real estate loans: Current period recoveries $ — $ — $ — $ — $ — $ 5 $ — $ 5 Multi-family residential real estate: Risk rating Pass $ 20,299 $ 38,046 $ 208,081 $ 111,048 $ 55,219 $ 83,106 $ 7,057 $ 522,856 Watch — — 640 — 260 2,365 — 3,265 Substandard — 216 1,205 — — — — 1,421 $ 20,299 $ 38,262 $ 209,926 $ 111,048 $ 55,479 $ 85,471 $ 7,057 $ 527,542 Multi-family residential real estate: Current period recoveries $ — $ — $ — $ — $ — $ 10 $ — $ 10 Nonresidential real estate: Risk rating Pass $ 13,083 $ 15,389 $ 46,104 $ 13,798 $ 7,557 $ 9,038 $ 137 $ 105,106 Watch — — 1,845 1,414 — — — 3,259 Special mention — — 433 — — — — 433 Substandard 457 — — — — — — 457 Nonaccrual — — 380 — — — — 380 $ 13,540 $ 15,389 $ 48,762 $ 15,212 $ 7,557 $ 9,038 $ 137 $ 109,635 Commercial loans and leases: Risk rating Pass $ 12,891 $ 35,621 $ 98,669 $ 47,820 $ 23,821 $ 1,850 $ 70,602 $ 291,274 Watch — 5,630 6,443 718 242 — — 13,033 Special mention — — — — — — 11,360 11,360 Substandard — 75 146 — — — 2,933 3,154 Nonaccrual — 356 19,624 — 415 — — 20,395 $ 12,891 $ 41,682 $ 124,882 $ 48,538 $ 24,478 $ 1,850 $ 84,895 $ 339,216 Commercial loans and leases: Current period gross charge-offs $ — $ (4 ) $ (116 ) $ (43 ) $ (5 ) $ — $ — $ (168 ) Current period recoveries — — — 5 7 — — 12 $ — $ (4 ) $ (116 ) $ (38 ) $ 2 $ — $ — $ (156 ) Consumer: Risk rating Pass $ 726 $ 208 $ 7 $ 55 $ 50 $ 98 $ 631 $ 1,775 Watch — — — — — — 6 6 Special mention — — — — — — 3 3 Substandard — — — — — — 3 3 $ 726 $ 208 $ 7 $ 55 $ 50 $ 98 $ 643 $ 1,787 Consumer: Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ (25 ) $ (25 ) Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving loans Total December 31, 2023 One-to-four family residential real estate loans: Risk-rating Pass $ 489 $ — $ — $ 130 $ — $ 14,069 $ 3,804 $ 18,492 Watch — — — — — 144 — 144 Substandard — — — — — 127 145 272 Nonaccrual — — — — — 16 21 37 $ 489 $ — $ — $ 130 $ — $ 14,356 $ 3,970 $ 18,945 One-to-four family residential real estate loans: Current-period gross charge-offs $ — $ — $ — $ — $ — $ (1 ) $ — $ (1 ) Current period recoveries — — — — — 45 — 45 $ — $ — $ — $ — $ — $ 44 $ — $ 44 Multi-family residential real estate: Risk rating Pass $ 43,386 $ 210,878 $ 108,563 $ 57,480 $ 22,064 $ 67,432 $ 8,735 $ 518,538 Watch — 647 4,104 263 — 2,575 — 7,589 Special mention 118 1,215 — — — — — 1,333 $ 43,504 $ 212,740 $ 112,667 $ 57,743 $ 22,064 $ 70,007 $ 8,735 $ 527,460 Multi-family residential real estate: Current period recoveries $ — $ — $ — $ — $ — $ 20 $ — $ 20 Nonresidential real estate: Risk rating Pass $ 17,618 $ 50,898 $ 20,436 $ 7,787 $ 9,024 $ 8,288 $ 104 $ 114,155 Watch — 2,358 1,503 — — — — 3,861 $ 17,618 $ 53,256 $ 21,939 $ 7,787 $ 9,024 $ 8,288 $ 104 $ 118,016 Commercial loans and leases: Risk rating Pass $ 43,972 $ 130,444 $ 62,280 $ 32,633 $ 3,028 $ 1,379 $ 66,887 $ 340,623 Watch 6,043 7,171 748 371 — — 2,428 16,761 Special mention — — — — — — 10,587 10,587 Substandard — 666 — 22 — — 3,368 4,056 Nonaccrual 11 20,204 524 555 — — — 21,294 $ 50,026 $ 158,485 $ 63,552 $ 33,581 $ 3,028 $ 1,379 $ 83,270 $ 393,321 Commercial loans and leases: Current period gross charge-offs $ (20 ) $ (1,850 ) $ — $ (306 ) $ — $ — $ — $ (2,176 ) Current period recoveries — — 37 40 — — — 77 $ (20 ) $ (1,850 ) $ 37 $ (266 ) $ — $ — $ — $ (2,099 ) Consumer: Risk rating Pass $ 336 $ 8 $ 140 $ 80 $ 247 $ — $ 538 $ 1,349 Watch — — — — — — 7 7 Special mention — — — — — — 5 5 Substandard — — — — — — 3 3 $ 336 $ 8 $ 140 $ 80 $ 247 $ — $ 553 $ 1,364 Consumer: Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ (52 ) $ (52 ) Current period recoveries — — — — — — 1 1 $ — $ — $ — $ — $ — $ — $ (51 ) $ (51 ) |
Note 5 - Foreclosed Assets
Note 5 - Foreclosed Assets | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Foreclosed Assets [Text Block] | NOTE 5 Real estate that is acquired through foreclosure or a deed in lieu of foreclosure is classified as other real estate owned ("OREO") until it is sold. When real estate is acquired through foreclosure or by deed in lieu of foreclosure, it is recorded at its fair value, less the estimated costs of disposal. If the fair value of the property is less than the loan balance, the difference is charged against the allowance for credit losses. Assets are classified as foreclosed when physical possession of the collateral is taken regardless of whether foreclosure proceedings have taken place. Other foreclosed assets received in satisfaction of borrowers’ debts are initially recorded at fair value of the asset less estimated costs to sell. June 30, 2024 December 31, 2023 Balance Valuation Allowance Net Balance Balance Valuation Allowance Net Balance Other real estate owned $ — $ — $ — $ 472 $ (67 ) $ 405 Other foreclosed assets 1,898 — 1,898 2,416 (44 ) 2,372 $ 1,898 $ — $ 1,898 $ 2,888 $ (111 ) $ 2,777 The following represents the roll forward of foreclosed assets: For the Three Months Ended For the Six Months Ended June 30, June 30, 2024 2023 2024 2023 Beginning balance $ 2,332 $ 1,393 $ 2,777 $ 476 New foreclosed assets — — 49 921 Valuation reductions from sales 44 — 111 — Direct write-downs — (70 ) — (70 ) Sales (478 ) (373 ) (1,039 ) (377 ) Ending balance $ 1,898 $ 950 $ 1,898 $ 950 Activity in the valuation allowance is as follows: For the Three Months Ended For the Six Months Ended June 30, June 30, 2024 2023 2024 2023 Beginning balance $ 44 $ — $ 111 $ — Reductions from sales (44 ) — (111 ) — Ending balance $ — $ — $ — $ — The were no consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process at June 30, 2024 December 31, 2023 June 30, 2024 |
Note 6 - Borrowings and Subordi
Note 6 - Borrowings and Subordinated Notes | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 6 Borrowings and subordinated notes were as follows: June 30, 2024 December 31, 2023 Contractual Contractual Rate Amount Rate Amount Fixed-rate advance from FHLB, due September 16, 2024 4.55 % $ 5,000 4.55 % $ 5,000 Fixed-rate advance from FHLB, due March 17, 2025 4.27 % 5,000 4.27 % 5,000 Fixed-rate advance from FHLB, due September 17, 2025 4.20 % 5,000 4.20 % 5,000 Fixed-rate advance from FHLB, due March 17, 2026 4.15 % 5,000 4.15 % 5,000 Fixed-rate advance from FHLB, due September 17, 2026 4.06 % 5,000 4.06 % 5,000 Subordinated notes, due May 15, 2031 3.75 % 18,715 3.75 % 19,678 Line of credit, due March 28, 2025 8.00 % — 8.00 % — In 2021, May 15, 2031 ( June 30, 2024 December 31, 2023 The Notes bear interest at a fixed annual rate of 3.75%, from and including the date of issuance to May 14, 2026, May 15, 2026, may May 15, 2031 May 15, 2026, Principal and interest payments due on the Notes are subject to acceleration only in limited circumstances in the case of certain bankruptcy and insolvency-related events with respect to the Company. The Notes are unsecured, subordinated obligations of the Company and generally rank junior in right of payment to the Company’s current and future senior indebtedness. The Notes qualify as Tier 2 In March 2024, In 2020, any established a $5.0 million unsecured line of credit with a correspondent bank. Interest is payable at a rate of Prime Rate as published in the Wall Street Journal minus 0.50%, with a minimum rate of 2.40%. The line of credit has been extended since its original maturity date and the current maturity date is March 28, 2025. June 30, 2024 December 31, 2023 |
Note 7 - Fair Value
Note 7 - Fair Value | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 7 Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may • Level 1 • Level 2 1 not • Level 3 The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Securities 1 2 Loans Evaluated Individually: not not 3. Foreclosed assets: no may Premises held-for-sale: 2023, two second 2023, The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value June 30, 2024 Securities: Municipal securities $ — $ 925 $ — $ 925 U.S. Treasury Notes 75,059 — — 75,059 U.S. government-sponsored agencies — 142,816 — 142,816 Mortgage-backed securities – residential — 3,184 — 3,184 Collateralized mortgage obligations – residential — 922 — 922 $ 75,059 $ 147,847 $ — $ 222,906 December 31, 2023 Securities: Municipal securities $ — $ 934 $ — $ 934 U.S. Treasury Notes 112,508 — — 112,508 U.S. government-sponsored agencies — 35,391 — 35,391 Mortgage-backed securities – residential — 3,367 — 3,367 Collateralized mortgage obligations – residential — 1,003 — 1,003 $ 112,508 $ 40,695 $ — $ 153,203 The following table sets forth the Company’s assets that were measured at fair value on a non-recurring basis: Fair Value Measurement Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value December 31, 2023 Other real estate owned $ — $ — $ 405 $ 405 Other foreclosed assets — — 387 387 At June 30, 2024 December 31, 2023 no Foreclosed assets are carried at the lower of cost or fair value less costs to sell. June 30, 2024 December 31, 2023 other real estate owned had a carrying value of $472,000 less a valuation allowance of $67,000, or $405,000, and other foreclosed assets had a carrying value of $431,000 less a valuation allowance of $44,000, or $387,000. There were no valuation adjustments of foreclosed assets recorded for the three six June 30, 2024 and 2023. The following table presents quantitative information, based on certain empirical data with respect to Level 3 Fair Value Valuation Technique(s) Significant Unobservable Input(s) Range (Weighted Average) December 31, 2023 Other real estate owned $ 405 Sales comparison Discount applied to valuation 10.0 % Other foreclosed assets 387 Sales comparison Discount applied to valuation 6.2 % The carrying amount and estimated fair value of financial instruments are as follows: Fair Value Measurements at June 30, 2024 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents and time deposits in other financial institutions $ 186,691 $ 132,385 $ 54,306 $ — $ 186,691 Securities 222,906 75,059 147,847 — 222,906 Loans receivable, net of allowance for credit losses 987,745 — — 941,656 941,656 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 9,343 304 2,549 6,490 9,343 Financial liabilities Certificates of deposit 223,494 — 221,386 — 221,386 Borrowings 25,000 — 24,812 — 24,812 Subordinated notes 18,715 — 16,910 — 16,910 Fair Value Measurements at December 31, 2023 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents and time deposits in other financial institutions $ 207,997 $ 177,169 $ 30,828 $ — $ 207,997 Securities 153,203 112,508 40,695 — 153,203 Loans receivable, net of allowance for credit losses 1,050,761 — — 997,897 997,897 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 7,542 475 500 6,567 7,542 Financial liabilities Certificates of deposit 222,391 — 220,222 — 220,222 Borrowings 25,000 — 24,960 — 24,960 Subordinated notes 19,678 — 17,698 . 17,698 Loans third may not While the above estimates are based on management’s judgment of the most appropriate factors, as of the balance sheet date, there is no may not In addition, other assets and liabilities that are not not |
Note 8 - Revenue From Contracts
Note 8 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 8 All of the Company's revenue from contracts with customers within the scope of ASC 606 606 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Deposit service charges and fees $ 834 $ 830 $ 1,643 $ 1,646 Loan servicing fees (1) 97 141 253 270 Trust and insurance commissions and annuities income 349 276 799 643 Losses on sales of securities (1) — — — (454 ) (Loss) gain on sale of premises and equipment (9 ) 13 (84 ) 9 Valuation adjustment on bank premises held-for-sale (1) — (32 ) — (585 ) Loss on bank-owned life insurance (1) (91 ) (87 ) (178 ) (171 ) Gain on repurchase of Subordinated notes (1) — — 107 — Other (1) 96 98 197 194 Total noninterest income $ 1,276 $ 1,239 $ 2,737 $ 1,552 ( 1 Not 606 A description of the Company's revenue streams accounted for under ASC 606 Deposit service charges and fees: Interchange income: three June 30, 2024 2023 six June 30, 2024 2023 Trust and insurance commissions and annuities income: i.e Gains/losses on sales of foreclosed assets and other assets: for the six June 30, 2024 2023 not |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Jun. 30, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. OTHER INFORMATION During the three June 30, 2024 no 10b5 1 10b5 1 |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation three six June 30, 2024 not may December 31, 2024 Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Financing Receivable, Fee and Interest Income [Policy Text Block] | Factored Receivables: 4 may third June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Factoring fees are recognized in interest income as incurred by the customer and deducted from the customer's reserve balances. Other factoring-related fees, which include wire transfer fees, broker fees, and other similar fees, are reported by the Company as loan servicing fees in noninterest income. |
Interest-bearing Deposits in Other Financial Institutions [Policy Text Block] | Interest-Bearing Time Deposits in other Financial Institutions: i 90 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications no These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2023 |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Not December 2023, 2023 09, 740 Improvements to Income Tax Disclosures December 15, 2024, December 15, 2025. not |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income available to common stockholders $ 2,134 $ 2,312 $ 3,844 $ 4,945 Basic and diluted weighted average common shares outstanding 12,460,678 12,667,129 12,464,365 12,694,334 Basic and diluted earnings per common share $ 0.17 $ 0.18 $ 0.31 $ 0.39 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale Securities June 30, 2024 Municipal securities $ 929 $ — $ (4 ) $ 925 U.S. Treasury Notes 77,128 — (2,069 ) 75,059 U.S. government-sponsored agencies 142,987 3 (174 ) 142,816 Mortgage-backed securities - residential 3,255 27 (98 ) 3,184 Collateralized mortgage obligations - residential 938 — (16 ) 922 $ 225,237 $ 30 $ (2,361 ) $ 222,906 December 31, 2023 Municipal securities $ 930 $ 12 $ (8 ) $ 934 U.S. Treasury Notes 115,920 — (3,412 ) 112,508 U.S. government-sponsored agencies 35,446 7 (62 ) 35,391 Mortgage-backed securities - residential 3,431 27 (91 ) 3,367 Collateralized mortgage obligations - residential 1,023 — (20 ) 1,003 $ 156,750 $ 46 $ (3,593 ) $ 153,203 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2024 Amortized Cost Fair Value Due in one year or less $ 104,022 $ 102,671 Due after one year through five years 117,022 116,129 221,044 218,800 Mortgage-backed securities - residential 3,255 3,184 Collateralized mortgage obligations - residential 938 922 $ 225,237 $ 222,906 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or More Total Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss June 30, 2024 Municipal securities 1 $ 603 $ (1 ) 1 $ 221 $ (3 ) 2 $ 824 $ (4 ) U.S. Treasury Notes — — — 115 75,059 (2,069 ) 115 75,059 (2,069 ) U.S. government-sponsored agencies 15 124,837 (159 ) 2 7,985 (15 ) 17 132,822 (174 ) Mortgage-backed securities - residential — — — 12 2,236 (98 ) 12 2,236 (98 ) Collateralized mortgage obligations - residential — — — 5 922 (16 ) 5 922 (16 ) 16 $ 125,440 $ (160 ) 135 $ 86,423 $ (2,201 ) 151 $ 211,863 $ (2,361 ) December 31, 2023 Municipal securities — $ — $ — 1 $ 217 $ (8 ) 1 $ 217 $ (8 ) U.S. Treasury Notes — — — 170 112,508 (3,412 ) 170 112,508 (3,412 ) U.S. government-sponsored agencies 2 8,987 (13 ) 4 17,951 (49 ) 6 26,938 (62 ) Mortgage-backed securities - residential — — — 17 2,627 (91 ) 17 2,627 (91 ) Collateralized mortgage obligations - residential — — — 6 1,003 (20 ) 6 1,003 (20 ) 2 $ 8,987 $ (13 ) 198 $ 134,306 $ (3,580 ) 200 $ 143,293 $ (3,593 ) |
Gain (Loss) on Securities [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Proceeds $ — $ — $ — $ 42,631 Gross gains — — — — Gross losses — — — (454 ) |
Note 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2024 December 31, 2023 One-to-four family residential real estate $ 17,707 $ 18,945 Multi-family residential real estate 527,542 527,460 Nonresidential real estate 109,635 118,016 Commercial loans and leases 339,216 393,321 Consumer 1,787 1,364 995,887 1,059,106 Allowance for credit losses (8,142 ) (8,345 ) Loans, net $ 987,745 $ 1,050,761 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total For the three months ended June 30, 2024 Beginning balance $ 331 $ 4,819 $ 1,444 $ 1,621 $ 34 $ 8,249 Provision for (recovery of) credit losses (9 ) 20 (47 ) (94 ) 32 (98 ) Loans charged off — — — (10 ) (12 ) (22 ) Recoveries 2 4 — 7 — 13 $ 324 $ 4,843 $ 1,397 $ 1,524 $ 54 $ 8,142 June 30, 2023 Beginning balance $ 354 $ 4,714 $ 1,347 $ 3,576 $ 41 $ 10,032 Recovery of credit losses (35 ) (41 ) (102 ) (1 ) (1 ) (180 ) Loans charged off — — — (638 ) (7 ) (645 ) Recoveries 7 6 — 6 — 19 $ 326 $ 4,679 $ 1,245 $ 2,943 $ 33 $ 9,226 One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total For the six months ended June 30, 2024 Beginning balance $ 295 $ 4,549 $ 1,166 $ 2,303 $ 32 $ 8,345 Provision for (recovery of) credit losses 24 284 231 (623 ) 47 (37 ) Loans charged off — — — (168 ) (25 ) (193 ) Recoveries 5 10 — 12 — 27 $ 324 $ 4,843 $ 1,397 $ 1,524 $ 54 $ 8,142 June 30, 2023 Beginning balance, prior to adoption of ASC 326 $ 281 $ 4,017 $ 1,234 $ 2,548 $ 49 $ 8,129 Impact of adopting ASC 326 99 630 66 1,122 (10 ) 1,907 Beginning balance, after adoption of ASC 326 380 4,647 1,300 3,670 39 10,036 Provision for (recovery of) credit losses (66 ) 21 (55 ) (17 ) 22 (95 ) Loans charged off — — — (717 ) (29 ) (746 ) Recoveries 12 11 — 7 1 31 $ 326 $ 4,679 $ 1,245 $ 2,943 $ 33 $ 9,226 |
Financing Receivable and Allowance for Loan Losses Based on Impairment Method [Table Text Block] | One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total June 30, 2024 Loans: Loans individually evaluated $ 57 $ — $ 380 $ 20,541 $ — $ 20,978 Loans collectively evaluated 17,650 527,542 109,255 318,675 1,787 974,909 $ 17,707 $ 527,542 $ 109,635 $ 339,216 $ 1,787 $ 995,887 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 324 4,843 1,397 1,524 54 8,142 $ 324 $ 4,843 $ 1,397 $ 1,524 $ 54 $ 8,142 One-to-four family residential real estate Multi-family residential real estate Nonresidential real estate Commercial loans and leases Consumer Total December 31, 2023 Loans: Loans individually evaluated $ 67 $ — $ — $ 21,982 $ — $ 22,049 Loans collectively evaluated 18,878 527,460 118,016 371,339 1,364 1,037,057 $ 18,945 $ 527,460 $ 118,016 $ 393,321 $ 1,364 $ 1,059,106 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 295 4,549 1,166 2,303 32 8,345 $ 295 $ 4,549 $ 1,166 $ 2,303 $ 32 $ 8,345 |
Impaired Financing Receivables 1 [Table Text Block] | Three Months Ended Six Months Ended June 30, 2024 June 30, 2024 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized Average Investment Interest Income Recognized June 30, 2024 With no related allowance recorded: One-to-four family residential real estate $ 56 $ 57 $ — $ — $ 58 $ 1 $ 60 $ 1 Nonresidential real estate 366 380 — — 127 — 63 3 Commercial loans and leases 21,293 20,541 537 — 20,583 1 20,830 15 $ 21,715 $ 20,978 $ 537 $ — $ 20,768 $ 2 $ 20,953 $ 19 Year ended December 31, 2023 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized December 31, 2023 With no related allowance recorded: One-to-four family residential real estate $ 66 $ 67 $ — $ — $ 76 $ 4 Commercial loans and leases 23,954 21,982 450 — 16,542 35 $ 24,020 $ 22,049 $ 450 $ — $ 16,618 $ 39 |
Financing Receivable, Nonaccrual [Table Text Block] | Nonaccrual Loans Past Due Over 90 Days Still Accruing June 30, 2024 One-to-four family residential real estate $ 39 $ — Nonresidential real estate 380 — Commercial loans and leases 20,395 — $ 20,814 $ — December 31, 2023 One-to-four family residential real estate $ 37 $ — Commercial loans and leases 21,294 1,007 $ 21,331 $ 1,007 |
Financing Receivable, Past Due [Table Text Block] | 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total June 30, 2024 One-to-four family residential real estate loans $ 13 $ — $ — $ 13 $ 39 $ 17,655 $ 17,707 Multi-family residential real estate: Senior notes — 107 — 107 — 487,966 488,073 Junior notes — — — — — 39,469 39,469 Nonresidential real estate: Owner occupied — — — — — 15,549 15,549 Non-owner occupied — — — — 380 93,706 94,086 Commercial loans and leases: Commercial 1,159 151 — 1,310 1,506 187,161 189,977 Equipment finance - Government 2,649 3,272 — 5,921 18,889 83,344 108,154 Equipment finance - Corporate Investment-grade — — — — — 41,085 41,085 Consumer 6 3 — 9 — 1,778 1,787 $ 3,827 $ 3,533 $ — $ 7,360 $ 20,814 $ 967,713 $ 995,887 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total December 31, 2023 One-to-four family residential real estate loans $ 12 $ 18 $ — $ 30 $ 37 $ 18,878 $ 18,945 Multi-family residential real estate: Senior notes — — — — — 485,281 485,281 Junior notes — — — — — 42,179 42,179 Nonresidential real estate: Owner occupied — — — — — 20,901 20,901 Non-owner occupied — — — — — 97,115 97,115 Commercial loans and leases: Commercial 234 26 666 926 2,285 208,770 211,981 Equipment finance - Government 3,147 5,028 — 8,175 18,956 105,134 132,265 Equipment finance - Corporate Investment-grade 7 — 341 348 53 48,674 49,075 Consumer 8 5 — 13 — 1,351 1,364 $ 3,408 $ 5,077 $ 1,007 $ 9,492 $ 21,331 $ 1,028,283 $ 1,059,106 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Substandard Nonaccrual Total June 30, 2024 One-to-four family residential real estate $ 17,434 $ 67 $ — $ 167 $ 39 $ 17,707 Multi-family residential real estate 522,856 3,265 — 1,421 — 527,542 Nonresidential real estate 105,106 3,259 433 457 380 109,635 Commercial loans and leases 291,274 13,033 11,360 3,154 20,395 339,216 Consumer 1,775 6 3 3 — 1,787 $ 938,445 $ 19,630 $ 11,796 $ 5,202 $ 20,814 $ 995,887 Pass Watch Special Mention Substandard Substandard Nonaccrual Total December 31, 2023 One-to-four family residential real estate $ 18,492 $ 144 $ — $ 272 $ 37 $ 18,945 Multi-family residential real estate 518,538 7,589 1,333 — — 527,460 Nonresidential real estate 114,155 3,861 — — — 118,016 Commercial loans and leases 340,623 16,761 10,587 4,056 21,294 393,321 Consumer 1,349 7 5 3 — 1,364 $ 993,157 $ 28,362 $ 11,925 $ 4,331 $ 21,331 $ 1,059,106 Term Loans Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving loans Total June 30, 2024 One-to-four family residential real estate loans: Risk-rating Pass $ — $ 487 $ — $ — $ 90 $ 13,375 $ 3,482 $ 17,434 Watch — — — — — 67 — 67 Substandard — — — — — 26 141 167 Nonaccrual — — — — — 23 16 39 $ — $ 487 $ — $ — $ 90 $ 13,491 $ 3,639 $ 17,707 One-to-four family residential real estate loans: Current period recoveries $ — $ — $ — $ — $ — $ 5 $ — $ 5 Multi-family residential real estate: Risk rating Pass $ 20,299 $ 38,046 $ 208,081 $ 111,048 $ 55,219 $ 83,106 $ 7,057 $ 522,856 Watch — — 640 — 260 2,365 — 3,265 Substandard — 216 1,205 — — — — 1,421 $ 20,299 $ 38,262 $ 209,926 $ 111,048 $ 55,479 $ 85,471 $ 7,057 $ 527,542 Multi-family residential real estate: Current period recoveries $ — $ — $ — $ — $ — $ 10 $ — $ 10 Nonresidential real estate: Risk rating Pass $ 13,083 $ 15,389 $ 46,104 $ 13,798 $ 7,557 $ 9,038 $ 137 $ 105,106 Watch — — 1,845 1,414 — — — 3,259 Special mention — — 433 — — — — 433 Substandard 457 — — — — — — 457 Nonaccrual — — 380 — — — — 380 $ 13,540 $ 15,389 $ 48,762 $ 15,212 $ 7,557 $ 9,038 $ 137 $ 109,635 Commercial loans and leases: Risk rating Pass $ 12,891 $ 35,621 $ 98,669 $ 47,820 $ 23,821 $ 1,850 $ 70,602 $ 291,274 Watch — 5,630 6,443 718 242 — — 13,033 Special mention — — — — — — 11,360 11,360 Substandard — 75 146 — — — 2,933 3,154 Nonaccrual — 356 19,624 — 415 — — 20,395 $ 12,891 $ 41,682 $ 124,882 $ 48,538 $ 24,478 $ 1,850 $ 84,895 $ 339,216 Commercial loans and leases: Current period gross charge-offs $ — $ (4 ) $ (116 ) $ (43 ) $ (5 ) $ — $ — $ (168 ) Current period recoveries — — — 5 7 — — 12 $ — $ (4 ) $ (116 ) $ (38 ) $ 2 $ — $ — $ (156 ) Consumer: Risk rating Pass $ 726 $ 208 $ 7 $ 55 $ 50 $ 98 $ 631 $ 1,775 Watch — — — — — — 6 6 Special mention — — — — — — 3 3 Substandard — — — — — — 3 3 $ 726 $ 208 $ 7 $ 55 $ 50 $ 98 $ 643 $ 1,787 Consumer: Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ (25 ) $ (25 ) Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving loans Total December 31, 2023 One-to-four family residential real estate loans: Risk-rating Pass $ 489 $ — $ — $ 130 $ — $ 14,069 $ 3,804 $ 18,492 Watch — — — — — 144 — 144 Substandard — — — — — 127 145 272 Nonaccrual — — — — — 16 21 37 $ 489 $ — $ — $ 130 $ — $ 14,356 $ 3,970 $ 18,945 One-to-four family residential real estate loans: Current-period gross charge-offs $ — $ — $ — $ — $ — $ (1 ) $ — $ (1 ) Current period recoveries — — — — — 45 — 45 $ — $ — $ — $ — $ — $ 44 $ — $ 44 Multi-family residential real estate: Risk rating Pass $ 43,386 $ 210,878 $ 108,563 $ 57,480 $ 22,064 $ 67,432 $ 8,735 $ 518,538 Watch — 647 4,104 263 — 2,575 — 7,589 Special mention 118 1,215 — — — — — 1,333 $ 43,504 $ 212,740 $ 112,667 $ 57,743 $ 22,064 $ 70,007 $ 8,735 $ 527,460 Multi-family residential real estate: Current period recoveries $ — $ — $ — $ — $ — $ 20 $ — $ 20 Nonresidential real estate: Risk rating Pass $ 17,618 $ 50,898 $ 20,436 $ 7,787 $ 9,024 $ 8,288 $ 104 $ 114,155 Watch — 2,358 1,503 — — — — 3,861 $ 17,618 $ 53,256 $ 21,939 $ 7,787 $ 9,024 $ 8,288 $ 104 $ 118,016 Commercial loans and leases: Risk rating Pass $ 43,972 $ 130,444 $ 62,280 $ 32,633 $ 3,028 $ 1,379 $ 66,887 $ 340,623 Watch 6,043 7,171 748 371 — — 2,428 16,761 Special mention — — — — — — 10,587 10,587 Substandard — 666 — 22 — — 3,368 4,056 Nonaccrual 11 20,204 524 555 — — — 21,294 $ 50,026 $ 158,485 $ 63,552 $ 33,581 $ 3,028 $ 1,379 $ 83,270 $ 393,321 Commercial loans and leases: Current period gross charge-offs $ (20 ) $ (1,850 ) $ — $ (306 ) $ — $ — $ — $ (2,176 ) Current period recoveries — — 37 40 — — — 77 $ (20 ) $ (1,850 ) $ 37 $ (266 ) $ — $ — $ — $ (2,099 ) Consumer: Risk rating Pass $ 336 $ 8 $ 140 $ 80 $ 247 $ — $ 538 $ 1,349 Watch — — — — — — 7 7 Special mention — — — — — — 5 5 Substandard — — — — — — 3 3 $ 336 $ 8 $ 140 $ 80 $ 247 $ — $ 553 $ 1,364 Consumer: Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ (52 ) $ (52 ) Current period recoveries — — — — — — 1 1 $ — $ — $ — $ — $ — $ — $ (51 ) $ (51 ) |
Note 5 - Foreclosed Assets (Tab
Note 5 - Foreclosed Assets (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Other Real Estate Owned and Other Foreclosed Assets [Table Text Block] | June 30, 2024 December 31, 2023 Balance Valuation Allowance Net Balance Balance Valuation Allowance Net Balance Other real estate owned $ — $ — $ — $ 472 $ (67 ) $ 405 Other foreclosed assets 1,898 — 1,898 2,416 (44 ) 2,372 $ 1,898 $ — $ 1,898 $ 2,888 $ (111 ) $ 2,777 |
Roll Forward of Foreclosed Assets [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, June 30, 2024 2023 2024 2023 Beginning balance $ 2,332 $ 1,393 $ 2,777 $ 476 New foreclosed assets — — 49 921 Valuation reductions from sales 44 — 111 — Direct write-downs — (70 ) — (70 ) Sales (478 ) (373 ) (1,039 ) (377 ) Ending balance $ 1,898 $ 950 $ 1,898 $ 950 |
Foreclosed Assets, Valuation Allowance [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, June 30, 2024 2023 2024 2023 Beginning balance $ 44 $ — $ 111 $ — Reductions from sales (44 ) — (111 ) — Ending balance $ — $ — $ — $ — |
Note 6 - Borrowings and Subor_2
Note 6 - Borrowings and Subordinated Notes (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Federal Home Loan Bank, Advances [Table Text Block] | June 30, 2024 December 31, 2023 Contractual Contractual Rate Amount Rate Amount Fixed-rate advance from FHLB, due September 16, 2024 4.55 % $ 5,000 4.55 % $ 5,000 Fixed-rate advance from FHLB, due March 17, 2025 4.27 % 5,000 4.27 % 5,000 Fixed-rate advance from FHLB, due September 17, 2025 4.20 % 5,000 4.20 % 5,000 Fixed-rate advance from FHLB, due March 17, 2026 4.15 % 5,000 4.15 % 5,000 Fixed-rate advance from FHLB, due September 17, 2026 4.06 % 5,000 4.06 % 5,000 Subordinated notes, due May 15, 2031 3.75 % 18,715 3.75 % 19,678 Line of credit, due March 28, 2025 8.00 % — 8.00 % — |
Note 7 - Fair Value (Tables)
Note 7 - Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value June 30, 2024 Securities: Municipal securities $ — $ 925 $ — $ 925 U.S. Treasury Notes 75,059 — — 75,059 U.S. government-sponsored agencies — 142,816 — 142,816 Mortgage-backed securities – residential — 3,184 — 3,184 Collateralized mortgage obligations – residential — 922 — 922 $ 75,059 $ 147,847 $ — $ 222,906 December 31, 2023 Securities: Municipal securities $ — $ 934 $ — $ 934 U.S. Treasury Notes 112,508 — — 112,508 U.S. government-sponsored agencies — 35,391 — 35,391 Mortgage-backed securities – residential — 3,367 — 3,367 Collateralized mortgage obligations – residential — 1,003 — 1,003 $ 112,508 $ 40,695 $ — $ 153,203 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurement Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value December 31, 2023 Other real estate owned $ — $ — $ 405 $ 405 Other foreclosed assets — — 387 387 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Fair Value Valuation Technique(s) Significant Unobservable Input(s) Range (Weighted Average) December 31, 2023 Other real estate owned $ 405 Sales comparison Discount applied to valuation 10.0 % Other foreclosed assets 387 Sales comparison Discount applied to valuation 6.2 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at June 30, 2024 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents and time deposits in other financial institutions $ 186,691 $ 132,385 $ 54,306 $ — $ 186,691 Securities 222,906 75,059 147,847 — 222,906 Loans receivable, net of allowance for credit losses 987,745 — — 941,656 941,656 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 9,343 304 2,549 6,490 9,343 Financial liabilities Certificates of deposit 223,494 — 221,386 — 221,386 Borrowings 25,000 — 24,812 — 24,812 Subordinated notes 18,715 — 16,910 — 16,910 Fair Value Measurements at December 31, 2023 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents and time deposits in other financial institutions $ 207,997 $ 177,169 $ 30,828 $ — $ 207,997 Securities 153,203 112,508 40,695 — 153,203 Loans receivable, net of allowance for credit losses 1,050,761 — — 997,897 997,897 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 7,542 475 500 6,567 7,542 Financial liabilities Certificates of deposit 222,391 — 220,222 — 220,222 Borrowings 25,000 — 24,960 — 24,960 Subordinated notes 19,678 — 17,698 . 17,698 |
Note 8 - Revenue From Contrac_2
Note 8 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Deposit service charges and fees $ 834 $ 830 $ 1,643 $ 1,646 Loan servicing fees (1) 97 141 253 270 Trust and insurance commissions and annuities income 349 276 799 643 Losses on sales of securities (1) — — — (454 ) (Loss) gain on sale of premises and equipment (9 ) 13 (84 ) 9 Valuation adjustment on bank premises held-for-sale (1) — (32 ) — (585 ) Loss on bank-owned life insurance (1) (91 ) (87 ) (178 ) (171 ) Gain on repurchase of Subordinated notes (1) — — 107 — Other (1) 96 98 197 194 Total noninterest income $ 1,276 $ 1,239 $ 2,737 $ 1,552 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Factored Receivable Unpaid Principal Balance | $ 2,500,000 | $ 5,900,000 |
Factored Receivable, Customer Reserves | $ 902,000 | $ 2,100,000 |
Note 2 - Earnings Per Share - E
Note 2 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net income available to common stockholders | $ 2,134 | $ 2,312 | $ 3,844 | $ 4,945 |
Basic and diluted weighted average common shares outstanding (in shares) | 12,460,678 | 12,667,129 | 12,464,365 | 12,694,334 |
Basic and diluted earnings per common share (in dollars per share) | $ 0.17 | $ 0.18 | $ 0.31 | $ 0.39 |
Note 3 - Securities - Fair Valu
Note 3 - Securities - Fair Value of Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Amortized cost | $ 225,237 | $ 156,750 |
Gross unrealized gains | 30 | 46 |
Gross unrealized losses | (2,361) | (3,593) |
Fair value | 222,906 | 153,203 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 929 | 930 |
Gross unrealized gains | 0 | 12 |
Gross unrealized losses | (4) | (8) |
Fair value | 925 | 934 |
US Treasury Securities [Member] | ||
Amortized cost | 77,128 | 115,920 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (2,069) | (3,412) |
Fair value | 75,059 | 112,508 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Amortized cost | 142,987 | 35,446 |
Gross unrealized gains | 3 | 7 |
Gross unrealized losses | (174) | (62) |
Fair value | 142,816 | 35,391 |
Residential Mortgage-Backed Securities [Member] | ||
Amortized cost | 3,255 | 3,431 |
Gross unrealized gains | 27 | 27 |
Gross unrealized losses | (98) | (91) |
Fair value | 3,184 | 3,367 |
Collateralized Mortgage-Backed Securities [Member] | ||
Amortized cost | 938 | 1,023 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (16) | (20) |
Fair value | $ 922 | $ 1,003 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities By Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Due in one year or less, amortized cost | $ 104,022 | |
Due in one year or less, fair value | 102,671 | |
Due after one year through five years, amortized cost | 117,022 | |
Due after one year through five years | 116,129 | |
Amortized cost, single maturity date, amortized cost | 221,044 | |
Fair value, single maturity date | 218,800 | |
Amortized cost | 225,237 | $ 156,750 |
Fair value | 222,906 | 153,203 |
Residential Mortgage-Backed Securities [Member] | ||
Amortized cost, without single maturity date, amortized cost | 3,255 | |
Fair value, without single maturity date | 3,184 | |
Amortized cost | 3,255 | 3,431 |
Fair value | 3,184 | 3,367 |
Collateralized Mortgage-Backed Securities [Member] | ||
Amortized cost, without single maturity date, amortized cost | 938 | |
Fair value, without single maturity date | 922 | |
Amortized cost | 938 | 1,023 |
Fair value | $ 922 | $ 1,003 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities With Unrealized Losses (Details) $ in Thousands | Jun. 30, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Count, less than 12 months | 16 | 2 |
Fair value, less than 12 months | $ 125,440 | $ 8,987 |
Unrealized loss, less than 12 months | $ (160) | $ (13) |
Count, 12 months or more | 135 | 198 |
Fair value, 12 months or more | $ 86,423 | $ 134,306 |
Unrealized loss, 12 months or more | $ (2,201) | $ (3,580) |
Count, total | 151 | 200 |
Fair value, total | $ 211,863 | $ 143,293 |
Unrealized loss, total | $ (2,361) | $ (3,593) |
US States and Political Subdivisions Debt Securities [Member] | ||
Count, less than 12 months | 1 | 0 |
Fair value, less than 12 months | $ 603 | $ 0 |
Unrealized loss, less than 12 months | $ (1) | $ 0 |
Count, 12 months or more | 1 | 1 |
Fair value, 12 months or more | $ 221 | $ 217 |
Unrealized loss, 12 months or more | $ (3) | $ (8) |
Count, total | 2 | 1 |
Fair value, total | $ 824 | $ 217 |
Unrealized loss, total | $ (4) | $ (8) |
US Treasury Securities [Member] | ||
Count, less than 12 months | 0 | 0 |
Fair value, less than 12 months | $ 0 | $ 0 |
Unrealized loss, less than 12 months | $ 0 | $ 0 |
Count, 12 months or more | 115 | 170 |
Fair value, 12 months or more | $ 75,059 | $ 112,508 |
Unrealized loss, 12 months or more | $ (2,069) | $ (3,412) |
Count, total | 115 | 170 |
Fair value, total | $ 75,059 | $ 112,508 |
Unrealized loss, total | $ (2,069) | $ (3,412) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Count, less than 12 months | 15 | 2 |
Fair value, less than 12 months | $ 124,837 | $ 8,987 |
Unrealized loss, less than 12 months | $ (159) | $ (13) |
Count, 12 months or more | 2 | 4 |
Fair value, 12 months or more | $ 7,985 | $ 17,951 |
Unrealized loss, 12 months or more | $ (15) | $ (49) |
Count, total | 17 | 6 |
Fair value, total | $ 132,822 | $ 26,938 |
Unrealized loss, total | $ (174) | $ (62) |
Residential Mortgage-Backed Securities [Member] | ||
Count, less than 12 months | 0 | 0 |
Fair value, less than 12 months | $ 0 | $ 0 |
Unrealized loss, less than 12 months | $ 0 | $ 0 |
Count, 12 months or more | 12 | 17 |
Fair value, 12 months or more | $ 2,236 | $ 2,627 |
Unrealized loss, 12 months or more | $ (98) | $ (91) |
Count, total | 12 | 17 |
Fair value, total | $ 2,236 | $ 2,627 |
Unrealized loss, total | $ (98) | $ (91) |
Collateralized Mortgage-Backed Securities [Member] | ||
Count, less than 12 months | 0 | 0 |
Fair value, less than 12 months | $ 0 | $ 0 |
Unrealized loss, less than 12 months | $ 0 | $ 0 |
Count, 12 months or more | 5 | 6 |
Fair value, 12 months or more | $ 922 | $ 1,003 |
Unrealized loss, 12 months or more | $ (16) | $ (20) |
Count, total | 5 | 6 |
Fair value, total | $ 922 | $ 1,003 |
Unrealized loss, total | $ (16) | $ (20) |
Note 3 - Securities - Proceeds
Note 3 - Securities - Proceeds and Gains and Losses From Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Proceeds from sale of securities | $ 0 | $ 0 | $ 0 | $ 42,631 |
Gross gains | 0 | 0 | 0 | 0 |
Gross losses | $ 0 | $ 0 | $ 0 | $ (454) |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) - USD ($) | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Financing Receivable, Unamortized Loan Cost (Fee) | $ 1,500,000 | $ 1,700,000 | ||||
Financing Receivable, Allowance for Credit Loss | 8,142,000 | $ 8,249,000 | 8,345,000 | $ 9,226,000 | $ 10,032,000 | $ 8,129,000 |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 995,887,000 | 1,059,106,000 | ||||
Financing Receivable, Accrued Interest, before Allowance for Credit Loss | 1,900,000 | 1,400,000 | ||||
Financing Receivable, Modified, Accumulated | 0 | 0 | ||||
Real Estate or Business Assets [Member] | ||||||
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 2,100,000 | 3,200,000 | ||||
Unfunded Loan Commitment [Member] | Other Liabilities [Member] | ||||||
Financing Receivable, Allowance for Credit Loss | $ 262,000 | $ 335,000 |
Note 4 - Loans Receivable - Loa
Note 4 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Loans receivable | $ 995,887 | $ 1,059,106 | ||||
Allowance for credit losses | (8,142) | $ (8,249) | (8,345) | $ (9,226) | $ (10,032) | $ (8,129) |
Loans, net | 987,745 | 1,050,761 | ||||
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 339,216 | 393,321 | ||||
Allowance for credit losses | (1,524) | (1,621) | (2,303) | (2,943) | (3,576) | (2,548) |
Consumer Portfolio Segment [Member] | ||||||
Loans receivable | 1,787 | 1,364 | ||||
Allowance for credit losses | (54) | (34) | (32) | (33) | (41) | (49) |
One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | ||||||
Loans receivable | 17,707 | 18,945 | ||||
Allowance for credit losses | (324) | (331) | (295) | (326) | (354) | (281) |
Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | ||||||
Loans receivable | 527,542 | 527,460 | ||||
Allowance for credit losses | (4,843) | (4,819) | (4,549) | (4,679) | (4,714) | (4,017) |
Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | ||||||
Loans receivable | 109,635 | 118,016 | ||||
Allowance for credit losses | $ (1,397) | $ (1,444) | $ (1,166) | $ (1,245) | $ (1,347) | $ (1,234) |
Note 4 - Loans Receivable - Act
Note 4 - Loans Receivable - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Beginning balance | $ 8,249 | $ 10,032 | $ 8,345 | $ 8,129 |
Recovery of credit losses - loans | (98) | (180) | (37) | (95) |
Loans charged off | (22) | (645) | (193) | (746) |
Recoveries | 13 | 19 | 27 | 31 |
Total ending allowance balance | 8,142 | 9,226 | 8,142 | 9,226 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 1,907 | |||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 10,036 | |||
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||||
Beginning balance | 331 | 354 | 295 | 281 |
Recovery of credit losses - loans | (9) | (35) | 24 | (66) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 2 | 7 | 5 | 12 |
Total ending allowance balance | 324 | 326 | 324 | 326 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 99 | |||
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 380 | |||
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||||
Beginning balance | 4,819 | 4,714 | 4,549 | 4,017 |
Recovery of credit losses - loans | 20 | (41) | 284 | 21 |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 4 | 6 | 10 | 11 |
Total ending allowance balance | 4,843 | 4,679 | 4,843 | 4,679 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 630 | |||
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 4,647 | |||
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||||
Beginning balance | 1,444 | 1,347 | 1,166 | 1,234 |
Recovery of credit losses - loans | (47) | (102) | 231 | (55) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total ending allowance balance | 1,397 | 1,245 | 1,397 | 1,245 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 66 | |||
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 1,300 | |||
Commercial Portfolio Segment [Member] | ||||
Beginning balance | 1,621 | 3,576 | 2,303 | 2,548 |
Recovery of credit losses - loans | (94) | (1) | (623) | (17) |
Loans charged off | (10) | (638) | (168) | (717) |
Recoveries | 7 | 6 | 12 | 7 |
Total ending allowance balance | 1,524 | 2,943 | 1,524 | 2,943 |
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 1,122 | |||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | 3,670 | |||
Consumer Portfolio Segment [Member] | ||||
Beginning balance | 34 | 41 | 32 | 49 |
Recovery of credit losses - loans | 32 | (1) | 47 | 22 |
Loans charged off | (12) | (7) | (25) | (29) |
Recoveries | 0 | 0 | 0 | 1 |
Total ending allowance balance | $ 54 | $ 33 | $ 54 | 33 |
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | (10) | |||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | ||||
Beginning balance | $ 39 |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses and Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Loan balances, individually evaluated for impairment | $ 20,978 | $ 22,049 | ||||
Loan balances, collectively evaluated for impairment | 974,909 | 1,037,057 | ||||
Loans receivable | 995,887 | 1,059,106 | ||||
Allowance for loans individually evaluated | 0 | 0 | ||||
Allowance for loans collectively evaluated | 8,142 | 8,345 | ||||
Allowance for loan losses | 8,142 | $ 8,249 | 8,345 | $ 9,226 | $ 10,032 | $ 8,129 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||||||
Loan balances, individually evaluated for impairment | 57 | 67 | ||||
Loan balances, collectively evaluated for impairment | 17,650 | 18,878 | ||||
Loans receivable | 17,707 | 18,945 | ||||
Allowance for loans individually evaluated | 0 | 0 | ||||
Allowance for loans collectively evaluated | 324 | 295 | ||||
Allowance for loan losses | 324 | 331 | 295 | 326 | 354 | 281 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||||||
Loan balances, individually evaluated for impairment | 0 | 0 | ||||
Loan balances, collectively evaluated for impairment | 527,542 | 527,460 | ||||
Loans receivable | 527,542 | 527,460 | ||||
Allowance for loans individually evaluated | 0 | 0 | ||||
Allowance for loans collectively evaluated | 4,843 | 4,549 | ||||
Allowance for loan losses | 4,843 | 4,819 | 4,549 | 4,679 | 4,714 | 4,017 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||||||
Loan balances, individually evaluated for impairment | 380 | 0 | ||||
Loan balances, collectively evaluated for impairment | 109,255 | 118,016 | ||||
Loans receivable | 109,635 | 118,016 | ||||
Allowance for loans individually evaluated | 0 | 0 | ||||
Allowance for loans collectively evaluated | 1,397 | 1,166 | ||||
Allowance for loan losses | 1,397 | 1,444 | 1,166 | 1,245 | 1,347 | 1,234 |
Commercial Portfolio Segment [Member] | ||||||
Loan balances, individually evaluated for impairment | 20,541 | 21,982 | ||||
Loan balances, collectively evaluated for impairment | 318,675 | 371,339 | ||||
Loans receivable | 339,216 | 393,321 | ||||
Allowance for loans individually evaluated | 0 | 0 | ||||
Allowance for loans collectively evaluated | 1,524 | 2,303 | ||||
Allowance for loan losses | 1,524 | 1,621 | 2,303 | 2,943 | 3,576 | 2,548 |
Consumer Portfolio Segment [Member] | ||||||
Loan balances, individually evaluated for impairment | 0 | 0 | ||||
Loan balances, collectively evaluated for impairment | 1,787 | 1,364 | ||||
Loans receivable | 1,787 | 1,364 | ||||
Allowance for loans individually evaluated | 0 | 0 | ||||
Allowance for loans collectively evaluated | 54 | 32 | ||||
Allowance for loan losses | $ 54 | $ 34 | $ 32 | $ 33 | $ 41 | $ 49 |
Note 4 - Loans Receivable - L_2
Note 4 - Loans Receivable - Loans Individually Evaluated for Impairment By Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Jun. 30, 2024 | Dec. 31, 2023 | |
Loan balance, with no allowance recorded | $ 21,715 | $ 21,715 | $ 24,020 |
Recorded investment, with no allowance recorded | 20,978 | 20,978 | 22,049 |
Partial charge-off, with no allowance recorded | 537 | 537 | 450 |
Average investment in impaired loans, with no allowance recorded | 20,768 | 20,953 | 16,618 |
Interest income recognized, with no allowance recorded | 2 | 19 | 39 |
Loan balance, with no allowance recorded | 21,715 | 21,715 | 24,020 |
Recorded investment, with no allowance recorded | 20,978 | 20,978 | 22,049 |
Average investment in impaired loans, with no allowance recorded | 20,768 | 20,953 | 16,618 |
Interest income recognized, with no allowance recorded | 2 | 19 | 39 |
Commercial Portfolio Segment [Member] | |||
Loan balance, with no allowance recorded | 21,293 | 21,293 | |
Recorded investment, with no allowance recorded | 20,541 | 20,541 | |
Partial charge-off, with no allowance recorded | 537 | 537 | |
Average investment in impaired loans, with no allowance recorded | 20,583 | 20,830 | |
Interest income recognized, with no allowance recorded | 1 | 15 | |
Loan balance, with no allowance recorded | 21,293 | 21,293 | |
Recorded investment, with no allowance recorded | 20,541 | 20,541 | |
Average investment in impaired loans, with no allowance recorded | 20,583 | 20,830 | |
Interest income recognized, with no allowance recorded | 1 | 15 | |
One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | |||
Loan balance, with no allowance recorded | 56 | 56 | 66 |
Recorded investment, with no allowance recorded | 57 | 57 | 67 |
Partial charge-off, with no allowance recorded | 0 | 0 | 0 |
Average investment in impaired loans, with no allowance recorded | 58 | 60 | 76 |
Interest income recognized, with no allowance recorded | 1 | 1 | 4 |
Loan balance, with no allowance recorded | 56 | 56 | 66 |
Recorded investment, with no allowance recorded | 57 | 57 | 67 |
Average investment in impaired loans, with no allowance recorded | 58 | 60 | 76 |
Interest income recognized, with no allowance recorded | 1 | 1 | 4 |
Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | |||
Loan balance, with no allowance recorded | 366 | 366 | |
Recorded investment, with no allowance recorded | 380 | 380 | |
Partial charge-off, with no allowance recorded | 0 | 0 | |
Average investment in impaired loans, with no allowance recorded | 127 | 63 | |
Interest income recognized, with no allowance recorded | 0 | 3 | |
Loan balance, with no allowance recorded | 366 | 366 | |
Recorded investment, with no allowance recorded | 380 | 380 | |
Average investment in impaired loans, with no allowance recorded | 127 | 63 | |
Interest income recognized, with no allowance recorded | $ 0 | $ 3 | |
Commercial Loans [Member] | Real Estate Portfolio [Member] | |||
Loan balance, with no allowance recorded | 23,954 | ||
Loan balance, with no allowance recorded | 23,954 | ||
Commercial leases [Member] | Real Estate Portfolio [Member] | |||
Recorded investment, with no allowance recorded | 21,982 | ||
Partial charge-off, with no allowance recorded | 450 | ||
Average investment in impaired loans, with no allowance recorded | 16,542 | ||
Interest income recognized, with no allowance recorded | 35 | ||
Recorded investment, with no allowance recorded | 21,982 | ||
Average investment in impaired loans, with no allowance recorded | 16,542 | ||
Interest income recognized, with no allowance recorded | $ 35 |
Note 4 - Loans Receivable - Rec
Note 4 - Loans Receivable - Recorded Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Recorded investment | $ 20,814 | $ 21,331 |
Loans past due over 90 days, still accruing | 0 | 1,007 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Recorded investment | 39 | 37 |
Loans past due over 90 days, still accruing | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Recorded investment | 380 | |
Loans past due over 90 days, still accruing | 0 | |
Commercial Portfolio Segment [Member] | ||
Recorded investment | 20,395 | 21,294 |
Loans past due over 90 days, still accruing | $ 0 | $ 1,007 |
Note 4 - Loans Receivable - Agi
Note 4 - Loans Receivable - Aging of the Recorded Investment of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Loans receivable | $ 995,887 | $ 1,059,106 |
Loans receivable, nonaccrual | 20,814 | 21,331 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 17,707 | 18,945 |
Loans receivable, nonaccrual | 39 | 37 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 527,542 | 527,460 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 488,073 | 485,281 |
Loans receivable, nonaccrual | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 39,469 | 42,179 |
Loans receivable, nonaccrual | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 15,549 | 20,901 |
Loans receivable, nonaccrual | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 94,086 | 97,115 |
Loans receivable, nonaccrual | 380 | 0 |
Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 189,977 | 211,981 |
Loans receivable, nonaccrual | 1,506 | 2,285 |
Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 108,154 | 132,265 |
Loans receivable, nonaccrual | 18,889 | 18,956 |
Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 41,085 | 49,075 |
Loans receivable, nonaccrual | 0 | 53 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,787 | 1,364 |
Loans receivable, nonaccrual | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 3,827 | 3,408 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 13 | 12 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 1,159 | 234 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 2,649 | 3,147 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 0 | 7 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 6 | 8 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 3,533 | 5,077 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 0 | 18 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 107 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 151 | 26 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 3,272 | 5,028 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 3 | 5 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 0 | 1,007 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 0 | 666 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 0 | 341 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Loans receivable | 7,360 | 9,492 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 13 | 30 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 107 | 0 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 1,310 | 926 |
Financial Asset, Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 5,921 | 8,175 |
Financial Asset, Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 0 | 348 |
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 9 | 13 |
Financial Asset, Not Past Due [Member] | ||
Loans receivable | 967,713 | 1,028,283 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 17,655 | 18,878 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 487,966 | 485,281 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 39,469 | 42,179 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 15,549 | 20,901 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 93,706 | 97,115 |
Financial Asset, Not Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 187,161 | 208,770 |
Financial Asset, Not Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 83,344 | 105,134 |
Financial Asset, Not Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 41,085 | 48,674 |
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 1,778 | $ 1,351 |
Note 4 - Loans Receivable - Ris
Note 4 - Loans Receivable - Risk Categories of Loans By Class of Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Loans receivable | $ 995,887 | $ 1,059,106 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 17,707 | 18,945 |
Financing Receivable, current year | 0 | 489 |
Financing Receivable, one year before | 487 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 130 |
Financing Receivable, four years before | 90 | 0 |
Financing Receivable, prior | 13,491 | 14,356 |
Financing Receivable, revolving | 3,639 | 3,970 |
Current period recoveries, current year | 0 | 0 |
Current period recoveries, one year before | 0 | 0 |
Current period recoveries, two years before | 0 | 0 |
Current period recoveries, three years before | 0 | 0 |
Current period recoveries, four years before | 0 | 0 |
Current period recoveries, prior | 5 | 45 |
Current period recoveries, revolving | 0 | 0 |
Current period recoveries, total | 5 | 45 |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | (1) | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | (1) | |
Recoveries (charge-offs), net, current year | 0 | |
Recoveries (charge-offs), net, one year before | 0 | |
Recoveries (charge-offs), net, two years before | 0 | |
Recoveries (charge-offs), net, three years before | 0 | |
Recoveries (charge-offs), net, four years before | 0 | |
Recoveries (charge-offs), net, prior | 44 | |
Recoveries (charge-offs), net, revolving | 0 | |
Recoveries (charge-offs), net, total | 44 | |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 527,542 | 527,460 |
Financing Receivable, current year | 20,299 | 43,504 |
Financing Receivable, one year before | 38,262 | 212,740 |
Financing Receivable, two years before | 209,926 | 112,667 |
Financing Receivable, three years before | 111,048 | 57,743 |
Financing Receivable, four years before | 55,479 | 22,064 |
Financing Receivable, prior | 85,471 | 70,007 |
Financing Receivable, revolving | 7,057 | 8,735 |
Current period recoveries, current year | 0 | 0 |
Current period recoveries, one year before | 0 | 0 |
Current period recoveries, two years before | 0 | 0 |
Current period recoveries, three years before | 0 | 0 |
Current period recoveries, four years before | 0 | 0 |
Current period recoveries, prior | 10 | 20 |
Current period recoveries, revolving | 0 | 0 |
Current period recoveries, total | 10 | 20 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 109,635 | 118,016 |
Financing Receivable, current year | 13,540 | 17,618 |
Financing Receivable, one year before | 15,389 | 53,256 |
Financing Receivable, two years before | 48,762 | 21,939 |
Financing Receivable, three years before | 15,212 | 7,787 |
Financing Receivable, four years before | 7,557 | 9,024 |
Financing Receivable, prior | 9,038 | 8,288 |
Financing Receivable, revolving | 137 | 104 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 339,216 | 393,321 |
Financing Receivable, current year | 12,891 | 50,026 |
Financing Receivable, one year before | 41,682 | 158,485 |
Financing Receivable, two years before | 124,882 | 63,552 |
Financing Receivable, three years before | 48,538 | 33,581 |
Financing Receivable, four years before | 24,478 | 3,028 |
Financing Receivable, prior | 1,850 | 1,379 |
Financing Receivable, revolving | 84,895 | 83,270 |
Current period recoveries, current year | 0 | 0 |
Current period recoveries, one year before | 0 | 0 |
Current period recoveries, two years before | 0 | 37 |
Current period recoveries, three years before | 5 | 40 |
Current period recoveries, four years before | 7 | 0 |
Current period recoveries, prior | 0 | 0 |
Current period recoveries, revolving | 0 | 0 |
Current period recoveries, total | 12 | 77 |
Current period gross charge-offs | 0 | (20) |
Current period gross charge-offs | (4) | (1,850) |
Current period gross charge-offs | (116) | 0 |
Current period gross charge-offs | (43) | (306) |
Current period gross charge-offs | (5) | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | (168) | (2,176) |
Recoveries (charge-offs), net, current year | 0 | (20) |
Recoveries (charge-offs), net, one year before | (4) | (1,850) |
Recoveries (charge-offs), net, two years before | (116) | 37 |
Recoveries (charge-offs), net, three years before | (38) | (266) |
Recoveries (charge-offs), net, four years before | 2 | 0 |
Recoveries (charge-offs), net, prior | 0 | 0 |
Recoveries (charge-offs), net, revolving | 0 | 0 |
Recoveries (charge-offs), net, total | (156) | (2,099) |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,787 | 1,364 |
Financing Receivable, current year | 726 | 336 |
Financing Receivable, one year before | 208 | 8 |
Financing Receivable, two years before | 7 | 140 |
Financing Receivable, three years before | 55 | 80 |
Financing Receivable, four years before | 50 | 247 |
Financing Receivable, prior | 98 | 0 |
Financing Receivable, revolving | 643 | 553 |
Current period recoveries, current year | 0 | |
Current period recoveries, one year before | 0 | |
Current period recoveries, two years before | 0 | |
Current period recoveries, three years before | 0 | |
Current period recoveries, four years before | 0 | |
Current period recoveries, prior | 0 | |
Current period recoveries, revolving | 1 | |
Current period recoveries, total | 1 | |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Current period gross charge-offs | (25) | (52) |
Current period gross charge-offs | (25) | (52) |
Recoveries (charge-offs), net, current year | 0 | |
Recoveries (charge-offs), net, one year before | 0 | |
Recoveries (charge-offs), net, two years before | 0 | |
Recoveries (charge-offs), net, three years before | 0 | |
Recoveries (charge-offs), net, four years before | 0 | |
Recoveries (charge-offs), net, prior | 0 | |
Recoveries (charge-offs), net, revolving | (51) | |
Recoveries (charge-offs), net, total | (51) | |
Pass [Member] | ||
Loans receivable | 938,445 | 993,157 |
Pass [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 17,434 | 18,492 |
Financing Receivable, current year | 0 | 489 |
Financing Receivable, one year before | 487 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 130 |
Financing Receivable, four years before | 90 | 0 |
Financing Receivable, prior | 13,375 | 14,069 |
Financing Receivable, revolving | 3,482 | 3,804 |
Pass [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 522,856 | 518,538 |
Financing Receivable, current year | 20,299 | 43,386 |
Financing Receivable, one year before | 38,046 | 210,878 |
Financing Receivable, two years before | 208,081 | 108,563 |
Financing Receivable, three years before | 111,048 | 57,480 |
Financing Receivable, four years before | 55,219 | 22,064 |
Financing Receivable, prior | 83,106 | 67,432 |
Financing Receivable, revolving | 7,057 | 8,735 |
Pass [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 105,106 | 114,155 |
Financing Receivable, current year | 13,083 | 17,618 |
Financing Receivable, one year before | 15,389 | 50,898 |
Financing Receivable, two years before | 46,104 | 20,436 |
Financing Receivable, three years before | 13,798 | 7,787 |
Financing Receivable, four years before | 7,557 | 9,024 |
Financing Receivable, prior | 9,038 | 8,288 |
Financing Receivable, revolving | 137 | 104 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 291,274 | 340,623 |
Financing Receivable, current year | 12,891 | 43,972 |
Financing Receivable, one year before | 35,621 | 130,444 |
Financing Receivable, two years before | 98,669 | 62,280 |
Financing Receivable, three years before | 47,820 | 32,633 |
Financing Receivable, four years before | 23,821 | 3,028 |
Financing Receivable, prior | 1,850 | 1,379 |
Financing Receivable, revolving | 70,602 | 66,887 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,775 | 1,349 |
Financing Receivable, current year | 726 | 336 |
Financing Receivable, one year before | 208 | 8 |
Financing Receivable, two years before | 7 | 140 |
Financing Receivable, three years before | 55 | 80 |
Financing Receivable, four years before | 50 | 247 |
Financing Receivable, prior | 98 | 0 |
Financing Receivable, revolving | 631 | 538 |
Watch [Member] | ||
Loans receivable | 19,630 | 28,362 |
Watch [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 67 | 144 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 67 | 144 |
Financing Receivable, revolving | 0 | 0 |
Watch [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 3,265 | 7,589 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 647 |
Financing Receivable, two years before | 640 | 4,104 |
Financing Receivable, three years before | 0 | 263 |
Financing Receivable, four years before | 260 | 0 |
Financing Receivable, prior | 2,365 | 2,575 |
Financing Receivable, revolving | 0 | 0 |
Watch [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 3,259 | 3,861 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 2,358 |
Financing Receivable, two years before | 1,845 | 1,503 |
Financing Receivable, three years before | 1,414 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 0 | 0 |
Watch [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 13,033 | 16,761 |
Financing Receivable, current year | 0 | 6,043 |
Financing Receivable, one year before | 5,630 | 7,171 |
Financing Receivable, two years before | 6,443 | 748 |
Financing Receivable, three years before | 718 | 371 |
Financing Receivable, four years before | 242 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 0 | 2,428 |
Watch [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 6 | 7 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 6 | 7 |
Special Mention [Member] | ||
Loans receivable | 11,796 | 11,925 |
Special Mention [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 0 | 1,333 |
Financing Receivable, current year | 118 | |
Financing Receivable, one year before | 1,215 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 0 | |
Special Mention [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 433 | 0 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 433 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 11,360 | 10,587 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 11,360 | 10,587 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 3 | 5 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 3 | 5 |
Substandard [Member] | ||
Loans receivable | 5,202 | 4,331 |
Substandard [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 167 | 272 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 26 | 127 |
Financing Receivable, revolving | 141 | 145 |
Substandard [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 1,421 | 0 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 216 | |
Financing Receivable, two years before | 1,205 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 0 | |
Substandard [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 457 | 0 |
Financing Receivable, current year | 457 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 0 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 3,154 | 4,056 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 75 | 666 |
Financing Receivable, two years before | 146 | 0 |
Financing Receivable, three years before | 0 | 22 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 2,933 | 3,368 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 3 | 3 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 3 | 3 |
Substandard Nonaccrual [Member] | ||
Loans receivable | 20,814 | 21,331 |
Substandard Nonaccrual [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 39 | 37 |
Financing Receivable, current year | 0 | 0 |
Financing Receivable, one year before | 0 | 0 |
Financing Receivable, two years before | 0 | 0 |
Financing Receivable, three years before | 0 | 0 |
Financing Receivable, four years before | 0 | 0 |
Financing Receivable, prior | 23 | 16 |
Financing Receivable, revolving | 16 | 21 |
Substandard Nonaccrual [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 0 | 0 |
Substandard Nonaccrual [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 380 | 0 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 380 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 0 | |
Substandard Nonaccrual [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 20,395 | 21,294 |
Financing Receivable, current year | 0 | 11 |
Financing Receivable, one year before | 356 | 20,204 |
Financing Receivable, two years before | 19,624 | 524 |
Financing Receivable, three years before | 0 | 555 |
Financing Receivable, four years before | 415 | 0 |
Financing Receivable, prior | 0 | 0 |
Financing Receivable, revolving | 0 | 0 |
Substandard Nonaccrual [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 5 - Foreclosed Assets (Det
Note 5 - Foreclosed Assets (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Mortgage Loans in Process of Foreclosure, Amount | $ 0 | $ 0 |
Note 5 - Foreclosed Assets - Re
Note 5 - Foreclosed Assets - Real Estate Acquired Through Foreclosure (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Other real estate owned, gross | $ 0 | $ 472,000 |
Other real estate owned, valuation allowance | 0 | (67,000) |
Other real estate owned | 0 | 405,000 |
Other foreclosed assets, gross | 1,898,000 | 2,416,000 |
Other foreclosed assets, valuation allowance | 0 | (44,000) |
Other foreclosed assets | 1,898,000 | 2,372,000 |
Other real estate owned and other foreclosed assets, gross | 1,898,000 | 2,888,000 |
Other real estate owned and other foreclosed assets, valuation allowance | 0 | (111,000) |
Total | $ 1,898,000 | $ 2,777,000 |
Note 5 - Foreclosed Assets- Rol
Note 5 - Foreclosed Assets- Roll Forward of Foreclosed Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Beginning balance | $ 2,332 | $ 1,393 | $ 2,777 | $ 476 |
New foreclosed assets | 0 | 0 | 49 | 921 |
Valuation reductions from sales | 44 | 0 | 111 | 0 |
Direct write-downs | 0 | (70) | 0 | (70) |
Sales | (478) | (373) | (1,039) | (377) |
Ending balance | $ 1,898 | $ 950 | $ 1,898 | $ 950 |
Note 5 - Foreclosed Assets - Ac
Note 5 - Foreclosed Assets - Activity in the Valuation Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Beginning balance | $ 44 | $ 0 | $ 111 | $ 0 |
Reductions from sales | (44) | 0 | (111) | 0 |
Ending balance | $ 0 | $ 0 | $ 0 | $ 0 |
Note 6 - Borrowings and Subor_3
Note 6 - Borrowings and Subordinated Notes (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Apr. 14, 2021 | Mar. 31, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2020 | Dec. 31, 2023 | ||
Repayments of Subordinated Debt | $ 906,000 | $ 0 | |||||||
Gain (Loss) on Extinguishment of Debt | [1] | $ 0 | $ 0 | 107,000 | $ 0 | ||||
Federal Home Loan Bank Advances [Member] | |||||||||
Debt, Long-term and Short-term, Combined Amount, Total | 0 | 0 | $ 0 | ||||||
Line of Credit [Member] | Unsecured Debt [Member] | |||||||||
Line of Credit, Current | $ 5,000,000 | ||||||||
Debt Instrument, Prime Rate Floor | 2.40% | ||||||||
Prime Rate [Member] | Line of Credit [Member] | Unsecured Debt [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||
The 3.75 Percent Fixed-to-Floating Rate Subordinated Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 20,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | ||||||||
Debt Issuance Costs, Net, Total | $ 441,000 | $ 285,000 | $ 285,000 | $ 322,000 | |||||
Debt Instrument, Term (Year) | 10 years | ||||||||
Repayments of Subordinated Debt | $ 1,000,000 | ||||||||
Gain (Loss) on Extinguishment of Debt | $ 107,000 | ||||||||
The 3.75 Percent Fixed-to-Floating Rate Subordinated Notes [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.99% | ||||||||
[1]Not within the scope of ASC 606 |
Note 6 - Borrowings and Subor_4
Note 6 - Borrowings and Subordinated Notes - Advances From the FHLB (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Subordinated notes, net of unamortized issuance costs | $ 18,715 | $ 19,678 |
Line of credit, due March 31, 2022, interest rate | 8% | 8% |
Line of credit, due March 28, 2025 | $ 0 | $ 0 |
Subordinated Debt [Member] | ||
Subordinated notes, due May 15, 2031 | 3.75% | 3.75% |
Subordinated notes, net of unamortized issuance costs | $ 18,715 | $ 19,678 |
Fix Rate Advance Due September 16, 2024 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.55% | 4.55% |
Fixed-rate advance from FHLB | $ 5,000 | $ 5,000 |
Fix Rate Advance Due March 17, 2025 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.27% | 4.27% |
Fixed-rate advance from FHLB | $ 5,000 | $ 5,000 |
Fix Rate Advance Due September 17, 2025 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.20% | 4.20% |
Fixed-rate advance from FHLB | $ 5,000 | $ 5,000 |
Fix Rate Advance Due March 17, 2026 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.15% | 4.15% |
Fixed-rate advance from FHLB | $ 5,000 | $ 5,000 |
Fix Rate Advance Due September 17, 2026 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.06% | 4.06% |
Fixed-rate advance from FHLB | $ 5,000 | $ 5,000 |
Note 7 - Fair Value (Details Te
Note 7 - Fair Value (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |||||
Valuation Reserve on Premises Held-for-sale | $ 0 | [1] | $ 32,000 | [1] | $ 553,000 | $ 0 | [1] | $ 585,000 | [1] | |
Other Foreclosed Assets, Valuation Allowance | 0 | 0 | $ 44,000 | |||||||
Other Real Estate Owned, Gross | 0 | 0 | 472,000 | |||||||
Other Real Estate with Valuation Adjustments | 67,000 | |||||||||
Other Real Estate | 0 | 0 | 405,000 | |||||||
Foreclosed Assets, Gross | 431,000 | |||||||||
Foreclosed Assets, Net of Valuation Reserve | $ 387,000 | |||||||||
Foreclosed Assets Valuation Adjustments, With Valuation Reserve | $ 0 | $ 0 | $ 0 | $ 0 | ||||||
[1]Not within the scope of ASC 606 |
Note 7 - Fair Value - Financial
Note 7 - Fair Value - Financial Assets At Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Securities | $ 222,906 | $ 153,203 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 925 | 934 |
US Treasury and Government [Member] | ||
Securities | 75,059 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 142,816 | 35,391 |
Residential Mortgage-Backed Securities [Member] | ||
Securities | 3,184 | 3,367 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities | 922 | 1,003 |
US Treasury Securities [Member] | ||
Securities | 75,059 | 112,508 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | 75,059 | 112,508 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Securities | 75,059 | |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Securities | 112,508 | |
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 147,847 | 40,695 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 925 | 934 |
Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Securities | 0 | |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 142,816 | 35,391 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities | 3,184 | 3,367 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities | 922 | 1,003 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | ||
Securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities | $ 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Securities | $ 0 |
Note 7 - Fair Value - Financi_2
Note 7 - Fair Value - Financial Assets At Fair Value on Non-recurring Basis (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Other real estate owned, gross | $ 0 | $ 472,000 |
Fair Value, Nonrecurring [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Other real estate owned, gross | 405,000 | |
Other foreclosed assets | 387,000 | |
Fair Value, Nonrecurring [Member] | One-to-Four Family Residential Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Other real estate owned, gross | 0 | |
Other foreclosed assets | 0 | |
Fair Value, Nonrecurring [Member] | One-to-Four Family Residential Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Other real estate owned, gross | 0 | |
Other foreclosed assets | 0 | |
Fair Value, Nonrecurring [Member] | One-to-Four Family Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned, gross | 405,000 | |
Other foreclosed assets | $ 387,000 |
Note 7 - Fair Value - Quantitat
Note 7 - Fair Value - Quantitative Information for Financial Instruments on Non-recurring Basis (Details) - One-to-Four Family Residential Real Estate [Member] - Fair Value, Nonrecurring [Member] $ in Thousands | Dec. 31, 2023 USD ($) |
Other foreclosed assets | $ 387 |
Fair Value, Inputs, Level 3 [Member] | |
Other real estate owned | 405 |
Other foreclosed assets | $ 387 |
Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Measurement Input, Discount Rate [Member] | |
Other real estate owned, input | 0.10 |
Other foreclosed assets, input | 0.062 |
Note 7 - Fair Value - Carrying
Note 7 - Fair Value - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Securities | $ 222,906 | $ 153,203 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | 75,059 | 112,508 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 147,847 | 40,695 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | 0 | 0 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents and time deposits in other financial institutions | 186,691 | 207,997 |
Securities | 222,906 | 153,203 |
Loans receivable, net of allowance for credit losses | 987,745 | 1,050,761 |
FHLB and FRB stock | 7,490 | 7,490 |
Accrued interest receivable | 9,343 | 7,542 |
Certificates of deposit | 223,494 | 222,391 |
Borrowings | 25,000 | 25,000 |
Subordinated notes | 18,715 | 19,678 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents and time deposits in other financial institutions | 186,691 | 207,997 |
Securities | 222,906 | 153,203 |
Loans receivable, net of allowance for credit losses | 941,656 | 997,897 |
Accrued interest receivable | 9,343 | 7,542 |
Certificates of deposit | 221,386 | 220,222 |
Borrowings | 24,812 | 24,960 |
Subordinated notes | 16,910 | 17,698 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents and time deposits in other financial institutions | 132,385 | 177,169 |
Securities | 75,059 | 112,508 |
Loans receivable, net of allowance for credit losses | 0 | 0 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 304 | 475 |
Certificates of deposit | 0 | 0 |
Borrowings | 0 | 0 |
Subordinated notes | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents and time deposits in other financial institutions | 54,306 | 30,828 |
Securities | 147,847 | 40,695 |
Loans receivable, net of allowance for credit losses | 0 | 0 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 2,549 | 500 |
Certificates of deposit | 221,386 | 220,222 |
Borrowings | 24,812 | 24,960 |
Subordinated notes | 16,910 | 17,698 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents and time deposits in other financial institutions | 0 | 0 |
Securities | 0 | 0 |
Loans receivable, net of allowance for credit losses | 941,656 | 997,897 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 6,490 | 6,567 |
Certificates of deposit | 0 | 0 |
Borrowings | 0 | $ 0 |
Subordinated notes | $ 0 |
Note 8 - Revenue From Contrac_3
Note 8 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 834,000 | $ 830,000 | $ 1,643,000 | $ 1,646,000 |
Credit and Debit Card [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 316,000 | $ 356,000 | $ 626,000 | $ 690,000 |
Note 8 - Revenue From Contrac_4
Note 8 - Revenue From Contracts With Customers - Noninterest Income (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | ||||||
Revenue from contract with customer | $ 834,000 | $ 830,000 | $ 1,643,000 | $ 1,646,000 | ||||||
Loan servicing fees | [1] | 97,000 | 141,000 | 253,000 | 270,000 | |||||
Losses on sales of securities | [1] | 0 | 0 | 0 | (454,000) | |||||
(Loss) gain on sale of premises and equipment | (9,000) | 13,000 | (84,000) | 9,000 | ||||||
Valuation adjustment on bank premises held-for-sale | 0 | [1] | (32,000) | [1] | $ (553,000) | 0 | [1] | (585,000) | [1] | |
Loss on bank-owned life insurance | [1] | (91,000) | (87,000) | (178,000) | (171,000) | |||||
Gain on repurchase of Subordinated notes | [1] | 0 | 0 | 107,000 | 0 | |||||
Other | [1] | 96,000 | 98,000 | 197,000 | 194,000 | |||||
Total noninterest income | 1,276,000 | 1,239,000 | 2,737,000 | 1,552,000 | ||||||
Deposit Account [Member] | ||||||||||
Revenue from contract with customer | 834,000 | 830,000 | 1,643,000 | 1,646,000 | ||||||
Bank Servicing [Member] | ||||||||||
Revenue from contract with customer | $ 349,000 | $ 276,000 | $ 799,000 | $ 643,000 | ||||||
[1]Not within the scope of ASC 606 |