Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 30, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | LIMESTONE BANCORP, INC. | |
Entity Central Index Key | 0001358356 | |
Trading Symbol | lmst | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common shares | |
Nonvoting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 1,220,000 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 6,269,305 |
Unaudited Consolidated Balance
Unaudited Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 9,509 | $ 8,241 |
Interest bearing deposits in banks | 23,639 | 21,962 |
Cash and cash equivalents | 33,148 | 30,203 |
Securities available for sale | 198,657 | 209,000 |
Loans, net of allowance of $9,150 and $8,376, respectively | 952,411 | 917,895 |
Premises and equipment, net | 19,282 | 19,658 |
Premises held for sale | 1,185 | 900 |
Other real estate owned | 3,225 | 3,225 |
Federal Home Loan Bank stock | 6,837 | 6,237 |
Bank owned life insurance | 16,128 | 16,037 |
Deferred taxes, net | 28,208 | 27,765 |
Goodwill | 6,252 | 6,252 |
Other intangible assets, net | 2,436 | 2,500 |
Accrued interest receivable and other assets | 6,441 | 6,107 |
Total assets | 1,274,210 | 1,245,779 |
Deposits | ||
Non-interest bearing | 185,658 | 187,551 |
Interest bearing | 872,242 | 839,424 |
Total deposits | 1,057,900 | 1,026,975 |
Federal Home Loan Bank advances | 61,349 | 61,389 |
Accrued interest payable and other liabilities | 7,450 | 8,665 |
Junior subordinated debentures | 21,000 | 21,000 |
Subordinated capital note | 17,000 | 17,000 |
Senior debt | 5,000 | 5,000 |
Total liabilities | 1,169,699 | 1,140,029 |
Commitments and contingent liabilities (Note 15) | ||
Stockholders’ equity | ||
Common stock, no par, 39,000,000 shares authorized, 6,269,305 and 6,251,975 voting, and 1,220,000 and 1,220,000 non-voting issued and outstanding, respectively | 140,639 | 140,639 |
Additional paid-in capital | 24,577 | 24,508 |
Retained deficit | (53,843) | (55,683) |
Accumulated other comprehensive loss | (6,862) | (3,714) |
Total stockholders' equity | 104,511 | 105,750 |
Total liabilities and stockholders’ equity | $ 1,274,210 | $ 1,245,779 |
Unaudited Consolidated Balanc_2
Unaudited Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans, allowance | $ 9,150 | $ 8,376 |
Common stock, no par (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 39,000,000 | 39,000,000 |
Voting Common Stock [Member] | ||
Common stock, shares issued (in shares) | 6,269,305 | 6,251,975 |
Common stock, shares outstanding (in shares) | 6,269,305 | 6,251,975 |
Nonvoting Common Stock [Member] | ||
Common stock, shares issued (in shares) | 1,220,000 | 1,220,000 |
Common stock, shares outstanding (in shares) | 1,220,000 | 1,220,000 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest income | ||
Loans, including fees | $ 11,611,000 | $ 10,254,000 |
Taxable securities | 1,467,000 | 1,573,000 |
Tax exempt securities | 70,000 | 93,000 |
Federal funds sold and other | 119,000 | 266,000 |
Interest and Dividend Income, Operating, Total | 13,267,000 | 12,186,000 |
Interest expense | ||
Deposits | 2,772,000 | 2,587,000 |
Federal Home Loan Bank advances | 220,000 | 281,000 |
Senior debt | 56,000 | 96,000 |
Junior subordinated debentures | 215,000 | 263,000 |
Subordinated capital note | 242,000 | |
Interest Expense, Total | 3,505,000 | 3,227,000 |
Net interest income | 9,762,000 | 8,959,000 |
Provision for loan losses | 1,050,000 | |
Net interest income after provision for loan losses | 8,712,000 | 8,959,000 |
Non-interest income | ||
Non-interest income revenue | 156,000 | 136,000 |
Income from bank owned life insurance | 96,000 | 99,000 |
Other | 210,000 | 181,000 |
Noninterest Income, Total | 1,724,000 | 1,284,000 |
Non-interest expense | ||
Salaries and employee benefits | 4,538,000 | 3,915,000 |
Occupancy and equipment | 999,000 | 898,000 |
Professional fees | 208,000 | 165,000 |
Marketing expense | 214,000 | 227,000 |
FDIC insurance | 108,000 | |
Data processing expense | 359,000 | 313,000 |
State franchise and deposit tax | 360,000 | 315,000 |
Deposit account related expense | 451,000 | 281,000 |
Other real estate owned expense | 16,000 | 166,000 |
Litigation and loan collection expense | 65,000 | 46,000 |
Communications expense | 218,000 | 190,000 |
Insurance expense | 103,000 | 114,000 |
Postage and delivery | 168,000 | 141,000 |
Other | 536,000 | 402,000 |
Noninterest Expense, Total | 8,235,000 | 7,281,000 |
Income before income taxes | 2,201,000 | 2,962,000 |
Income tax expense | 361,000 | 123,000 |
Net income | $ 1,840,000 | $ 2,839,000 |
Basic and diluted income per common share (in dollars per share) | $ 0.25 | $ 0.38 |
Deposit Account [Member] | ||
Non-interest income | ||
Non-interest income revenue | $ 668,000 | $ 496,000 |
Debit Card [Member] | ||
Non-interest income | ||
Non-interest income revenue | $ 750,000 | $ 508,000 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income | $ 1,840 | $ 2,839 |
Other comprehensive income (loss): | ||
Unrealized gain (loss) arising during the period | (4,126) | 1,995 |
Reclassification adjustment for gains (losses) included in net income | ||
Net unrealized gain (loss) recognized in comprehensive income (loss) | (4,126) | 1,995 |
Tax effect | 978 | (418) |
Other comprehensive income (loss) | (3,148) | 1,577 |
Comprehensive income (loss) | $ (1,308) | $ 4,416 |
Unaudited Consolidated Statem_3
Unaudited Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member]Voting Common Stock [Member] | Common Stock [Member]Nonvoting Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2018 | 6,242,720 | 1,220,000 | 7,462,720 | ||||
Balances at Dec. 31, 2018 | $ 140,639 | $ 24,287 | $ (66,201) | $ (6,628) | $ 92,097 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 1,642 | 1,642 | |||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | (276) | (276) | |||||
Forfeited unvested stock (in shares) | (3,748) | (3,748) | |||||
Forfeited unvested stock | |||||||
Stock-based compensation expense | 82 | 82 | |||||
Net income | 2,839 | 2,839 | |||||
Net change in accumulated other comprehensive loss, net of taxes | 1,577 | 1,577 | |||||
Balances (in shares) at Mar. 31, 2019 | 6,240,614 | 1,220,000 | 7,460,614 | ||||
Balances at Mar. 31, 2019 | $ 140,639 | 24,093 | (63,362) | (5,051) | 96,319 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 1,642 | 1,642 | |||||
Balances (in shares) at Dec. 31, 2019 | 6,251,975 | 1,220,000 | 7,471,975 | ||||
Balances at Dec. 31, 2019 | $ 140,639 | 24,508 | (55,683) | (3,714) | 105,750 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 17,330 | 17,330 | |||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award | (37) | (37) | |||||
Forfeited unvested stock (in shares) | |||||||
Forfeited unvested stock | |||||||
Stock-based compensation expense | 106 | 106 | |||||
Net income | 1,840 | 1,840 | |||||
Net change in accumulated other comprehensive loss, net of taxes | (3,148) | (3,148) | |||||
Balances (in shares) at Mar. 31, 2020 | 6,269,305 | 1,220,000 | 7,489,305 | ||||
Balances at Mar. 31, 2020 | $ 140,639 | $ 24,577 | $ (53,843) | $ (6,862) | $ 104,511 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon award (in shares) | 17,330 | 17,330 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities | ||
Net income | $ 1,840 | $ 2,839 |
Adjustments to reconcile net income to net cash from operating activities | ||
Depreciation and amortization | 479 | 679 |
Provision for loan losses | 1,050 | |
Net amortization on securities | 146 | 189 |
Stock-based compensation expense | 106 | 82 |
Deferred taxes, net | 535 | 295 |
Net write-down of other real estate owned | 150 | |
Impairment of premises held for sale | 25 | |
Increase in cash surrender value of life insurance, net of premium expense | (91) | (93) |
Amortization of operating lease right-of-use assets | 187 | 62 |
Net change in accrued interest receivable and other assets | (334) | (668) |
Net change in accrued interest payable and other liabilities | (1,215) | (2,671) |
Net cash from operating activities | 2,728 | 864 |
Cash flows from investing activities | ||
Purchases of available for sale securities | (6,869) | (8,096) |
Proceeds from sales and calls of available for sale securities | 6,000 | 1,000 |
Proceeds from maturities and prepayments of available for sale securities | 6,940 | 3,683 |
Purchases of Federal Home Loan Bank stock | (600) | |
Proceeds from mandatory redemptions of Federal Home Loan Bank stock | 420 | |
Net changes in loans | (35,712) | (22,002) |
Purchases of premises and equipment | (390) | (37) |
Net cash from investing activities | (30,631) | (25,032) |
Cash flows from financing activities | ||
Net change in deposits | 30,925 | 14,611 |
Repayment of Federal Home Loan Bank advances | (95,040) | (30,038) |
Advances from Federal Home Loan Bank | 95,000 | 35,000 |
Common shares withheld for taxes | (37) | (276) |
Net cash from financing activities | 30,848 | 19,297 |
Net change in cash and cash equivalents | 2,945 | (4,871) |
Beginning cash and cash equivalents | 30,203 | 35,361 |
Ending cash and cash equivalents | 33,148 | 30,490 |
Supplemental cash flow information: | ||
Interest paid | 3,919 | 3,193 |
Supplemental non-cash disclosure: | ||
Transfer from loans to other real estate | ||
Transfer from premises and equipment to premises held for sale | 310 | |
Initial recognition of right-of-use lease assets | $ 507 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Basis of Presentation 100% The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10 10 01 X. not three March 31, 2020 not may December 31, 2019 10 Use of Estimates In March 2020, 2019 19" 19 The extent to which the COVID- 19 third 19 may Reclassifications not New Accounting Standards – June 2016, No. 2016 13, 326 first one first December 2018, three one may October 2019, not December 15, 2022. |
Note 2 - Securities
Note 2 - Securities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2 – Securities Securities are classified as available for sale (AFS). AFS securities may The amortized cost and fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) March 31, 20 20 Available for sale U.S. Government and federal agency $ 20,751 $ 353 $ — $ 21,104 Agency mortgage-backed: residential 86,840 2,428 (167 ) 89,101 Collateralized loan obligations 44,732 — (3,978 ) 40,754 State and municipal 28,301 346 (493 ) 28,154 Corporate bonds 20,831 199 (1,486 ) 19,544 Total available for sale $ 201,455 $ 3,326 $ (6,124 ) $ 198,657 December 31, 201 9 Amortized Cost Gross Unre alized Gains Gross Unre alized Losses Fair Value Available for sale U.S. Government and federal agency $ 22,281 $ 196 $ (147 ) $ 22,330 Agency mortgage-backed: residential 91,269 1,186 (255 ) 92,200 Collateralized loan obligations 49,831 — (412 ) 49,419 State and municipal 27,819 550 (3 ) 28,366 Corporate bonds 16,472 213 — 16,685 Total available for sale $ 207,672 $ 2,145 $ (817 ) $ 209,000 Sales and calls of securities were as follows: Three Months Ended March 31, 20 20 201 9 (in thousands) Proceeds $ 6,000 $ 1,000 Gross gains — — Gross losses — — The amortized cost and fair value of our debt securities are shown by contractual maturity. Expected maturities may not March 31 , 20 20 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 31,403 $ 30,003 One to five years 40,037 40,515 Five to ten years 23,970 22,852 Beyond ten years 19,205 16,186 Agency mortgage-backed: residential 86,840 89,101 Total $ 201,455 $ 198,657 Securities pledged at March 31, 2020 December 31, 2019 $80.9 $75.8 At March 31, 2020 December 31, 2019, $17.0 $14.5 March 31, 2020 December 31, 2019, no one 10% The Bank owns Collateralized Loan Obligations (CLOs), which are debt securities secured by professionally managed portfolios of senior-secured loans to corporations. CLOs are typically managed by large non-bank financial institutions or banks and are typically $300 $1 one hundred five six first first may may The market value of CLOs may At March 31, 2020, $25.7 $15.0 no none three March 31, 2020. three March 31, 2020. ten twelve four four forty-five one The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, underlying credit quality of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may March 31, 2020, not Securities with unrealized losses at March 31, 2020 December 31, 2019, Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (in thousands) March 31, 20 20 Available for sale U.S. Government and federal agency $ — $ — $ — $ — $ — $ — Agency mortgage-backed: residential 10,843 (120 ) 1,617 (47 ) 12,460 (167 ) Collateralized loan obligations 10,702 (843 ) 30,052 (3,135 ) 40,754 (3,978 ) State and municipal 10,192 (493 ) — — 10,192 (493 ) Corporate bonds 11,008 (1,486 ) — — 11,008 (1,486 ) Total temporarily impaired $ 42,745 $ (2,942 ) $ 31,669 $ (3,182 ) $ 74,414 $ (6,124 ) December 31, 201 9 Available for sale U.S. Government and federal agency $ 12,567 $ (147 ) $ — $ — $ 12,567 $ (147 ) Agency mortgage-backed: residential 18,457 (97 ) 10,665 (158 ) 29,122 (255 ) Collateralized loan obligations 9,539 (46 ) 35,336 (366 ) 44,875 (412 ) State and municipal 911 (3 ) — — 911 (3 ) Corporate bonds — — — — — — Total temporarily impaired $ 41,474 $ (293 ) $ 46,001 $ (524 ) $ 87,475 $ (817 ) |
Note 3 - Loans
Note 3 - Loans | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3 – Loans Loans net of unearned income, deferred loan origination costs, and net premiums on acquired loans by class were as follows: March 31, December 31, 20 20 201 9 (in thousands) Commercial $ 169,176 $ 145,551 Commercial Real Estate: Construction 71,267 64,911 Farmland 80,579 79,118 Nonfarm nonresidential 261,807 255,459 Residential Real Estate: Multi-family 75,525 70,950 1-4 Family 220,701 226,629 Consumer 44,814 47,790 Agriculture 36,977 35,064 Other 715 799 Subtotal 961,561 926,271 Less: Allowance for loan losses (9,150 ) (8,376 ) Loans, net $ 952,411 $ 917,895 The following table presents the activity in the allowance for loan losses by portfolio segment for the three March 31, 2020 2019: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) March 31, 20 20 : Beginning balance $ 1,710 $ 4,080 $ 1,743 $ 485 $ 355 $ 3 $ 8,376 Provision (negative provision) 339 141 220 265 87 (2 ) 1,050 Loans charged off (29 ) (29 ) (75 ) (161 ) (41 ) – (335 ) Recoveries 5 20 21 4 8 1 59 Ending balance $ 2,025 $ 4,212 $ 1,909 $ 593 $ 409 $ 2 $ 9,150 March 31, 201 9 : Beginning balance $ 1,299 $ 4,676 $ 2,452 $ 130 $ 321 $ 2 $ 8,880 Provision (negative provision) 143 (165 ) (204 ) 193 33 – – Loans charged off – (15 ) (82 ) (180 ) (1 ) – (278 ) Recoveries 5 2 61 16 – – 84 Ending balance $ 1,447 $ 4,498 $ 2,227 $ 159 $ 353 $ 2 $ 8,686 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of March 31, 2020: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ – $ 19 $ 1 $ – $ – $ – $ 20 Collectively evaluated for impairment 2,025 4,193 1,908 593 409 2 9,130 Total ending allowance balance $ 2,025 $ 4,212 $ 1,909 $ 593 $ 409 $ 2 $ 9,150 Loans: Loans individually evaluated for impairment $ 158 $ 922 $ 921 $ 143 $ – $ – $ 2,144 Loans collectively evaluated for impairment 169,018 412,731 295,305 44,671 36,977 715 959,417 Total ending loans balance $ 169,176 $ 413,653 $ 296,226 $ 44,814 $ 36,977 $ 715 $ 961,561 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of December 31, 2019: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ 37 $ 2 $ – $ – $ – $ 42 Collectively evaluated for impairment 1,707 4,043 1,741 485 355 3 8,334 Total ending allowance balance $ 1,710 $ 4,080 $ 1,743 $ 485 $ 355 $ 3 $ 8,376 Loans: Loans individually evaluated for impairment $ 74 $ 1,064 $ 892 $ 98 $ 42 $ – $ 2,170 Loans collectively evaluated for impairment 145,477 398,424 296,687 47,692 35,022 799 924,101 Total ending loans balance $ 145,551 $ 399,488 $ 297,579 $ 47,790 $ 35,064 $ 799 $ 926,271 Impaired Loans Impaired loans include restructured loans and loans on nonaccrual or classified as doubtful, whereby collection of the total amount is improbable, or loss, whereby all or a portion of the loan has been written off or a specific allowance for loss had been provided. The following tables present information related to loans individually evaluated for impairment by class of loans as of March 31, 2020 December 31, 2019 three March 31, 2020 2019: As of March 31, 20 20 T hree Months Ended March 31, 20 20 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 265 $ 158 $ — $ 104 $ — $ — Commercial real estate: Construction — — — — — — Farmland 414 299 — 296 10 10 Nonfarm nonresidential 1,043 480 — 485 8 — Residential real estate: Multi-family — — — — — — 1-4 Family 1,862 846 — 795 3 3 Consumer 354 143 — 121 1 1 Agriculture 297 — — 21 — — Other — — — — — — Subtotal 4,235 1,926 — 1,822 22 14 With An Allowance Recorded: Commercial — — — 12 — — Commercial real estate: Construction — — — — — — Farmland 143 143 19 212 2 — Nonfarm nonresidential — — — — — — Residential real estate: Multi-family — — — — — — 1-4 Family 75 75 1 111 2 — Consumer — — — — — — Agriculture — — — — — — Other — — — — — — Subtotal 218 218 20 335 4 — Total $ 4,453 $ 2,144 $ 20 $ 2,157 $ 26 $ 14 As of December 31, 201 9 T hree Months Ended March 31, 201 9 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 138 $ 50 $ — $ 52 $ — $ — Commercial real estate: Construction — — — — — — Farmland 380 293 — 98 5 5 Nonfarm nonresidential 1,057 489 — 256 3 3 Residential real estate: Multi-family — — — — — — 1-4 Family 1,679 745 — 1,544 22 22 Consumer 309 98 — 14 — — Agriculture 304 42 — 32 — — Other — — — — — — Subtotal 3,867 1,717 — 1,996 30 30 With An Allowance Recorded: Commercial 24 24 3 — — — Commercial real estate: Construction — — — — — — Farmland 282 282 37 158 — — Nonfarm nonresidential — — — — — — Residential real estate: Multi-family — — — — — — 1-4 Family 183 147 2 719 11 — Consumer — — — — — — Agriculture — — — — — — Other — — — — — — Subtotal 489 453 42 877 11 — Total $ 4,356 $ 2,170 $ 42 $ 2,873 $ 41 $ 30 Troubled Debt Restructuring A troubled debt restructuring (TDR) occurs when the Bank has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. The Bank’s TDRs typically involve a reduction in interest rate, a deferral of principal for a stated period of time, or an interest only period. All TDRs are considered impaired and the Bank has allocated reserves for these loans to reflect the present value of the concessionary terms granted to the borrower. The following table presents the types of TDR loan modifications by portfolio segment outstanding as of March 31, 2020 December 31, 2019: TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) March 31, 20 20 Commercial Real Estate: Nonfarm nonresidential $ 391 $ — $ 391 Residential Real Estate: 1-4 Family 75 — 75 Total TDRs $ 466 $ — $ 466 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 201 9 Commercial Real Estate: Nonfarm nonresidential $ 400 $ — $ 400 Residential Real Estate: 1-4 Family 75 — 75 Total TDRs $ 475 $ — $ 475 At March 31, 2020 December 31, 2019, 100% $1,000 March 31, 2020 December 31, 2019. no March 31, 2020 December 31, 2019 Management periodically reviews renewals and modifications of previously identified TDRs, for which there was no no not not No three March 31, 2020 March 31, 2019. first three 2020 2019, no 12 90 Non - performing Loans Non-performing loans include impaired loans and smaller balance homogeneous loans, such as residential mortgage and consumer loans, that are collectively evaluated for impairment. The following table presents the recorded investment in nonaccrual and loans past due 90 March 31, 2020, December 31, 2019: Nonaccrual Loans Past Due 90 Days And Over Still Accruing March 31 , 20 20 December 31, 201 9 March 31 , 20 20 December 31, 201 9 (in thousands) Commercial $ 158 $ 50 $ — $ — Commercial Real Estate: Construction — — — — Farmland 298 431 — — Nonfarm nonresidential 89 90 — — Residential Real Estate: Multi-family — — — — 1-4 Family 812 817 — — Consumer 143 98 — — Agriculture — 42 — — Other — — — — Total $ 1,500 $ 1,528 $ — $ — The following table presents the aging of the recorded investment in past due loans as of March 31, 2020 December 31, 2019: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) March 31, 20 20 Commercial $ — $ 1 $ — $ 158 $ 159 Commercial Real Estate: Construction — — — — — Farmland 81 — — 298 379 Nonfarm nonresidential 19 41 — 89 149 Residential Real Estate: Multi-family — — — — — 1-4 Family 961 147 — 812 1,920 Consumer 97 56 — 143 296 Agriculture — 3 — — 3 Other — — — — — Total $ 1,158 $ 248 $ — $ 1,500 $ 2,906 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) December 31, 201 9 Commercial $ 14 $ 3 $ — $ 50 $ 67 Commercial Real Estate: Construction — — — — — Farmland 274 — — 431 705 Nonfarm nonresidential 206 — — 90 296 Residential Real Estate: Multi-family — — — — — 1-4 Family 1,162 503 — 817 2,482 Consumer 91 164 — 98 353 Agriculture — — — 42 42 Other — — — — — Total $ 1,747 $ 670 $ — $ 1,528 $ 3,945 Credit Quality Indicators Management categorizes all loans into risk categories at origination based upon original underwriting. Thereafter, management categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends. Loans are analyzed through internal and external loan review processes and are routinely analyzed through credit administration processes which classify the loans as to credit risk. The following definitions are used for risk ratings: Watch – may Special Mention – not one may Substandard – may not Doubtful As of March 31, 2020, December 31, 2019, Pass Watch Special Mention Substandard Doubtful Total (in thousands) March 31, 20 20 Commercial $ 146,310 $ 20,903 $ — $ 1,963 $ — $ 169,176 Commercial Real Estate: Construction 71,267 — — — — 71,267 Farmland 73,202 6,568 — 809 — 80,579 Nonfarm nonresidential 252,982 7,152 — 1,673 — 261,807 Residential Real Estate: Multi-family 75,525 — — — — 75,525 1-4 Family 214,559 3,683 — 2,459 — 220,701 Consumer 44,640 3 — 171 — 44,814 Agriculture 36,785 155 — 37 — 36,977 Other 715 — — — — 715 Total $ 915,985 $ 38,464 $ — $ 7,112 $ — $ 961,561 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 201 9 Commercial $ 130,312 $ 11,280 $ — $ 3,959 $ — $ 145,551 Commercial Real Estate: Construction 64,911 — — — — 64,911 Farmland 71,503 6,663 — 952 — 79,118 Nonfarm nonresidential 245,995 6,986 — 2,478 — 255,459 Residential Real Estate: Multi-family 70,950 — — — — 70,950 1-4 Family 221,727 2,420 — 2,482 — 226,629 Consumer 47,657 5 — 128 — 47,790 Agriculture 34,853 168 — 43 — 35,064 Other 799 — — — — 799 Total $ 888,707 $ 27,522 $ — $ 10,042 $ — $ 926,271 |
Note 4 - Leases
Note 4 - Leases | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 4 – Leases As of March 31, 2020, six 2021 2055, 22 March 31, 2020. In determining the present value of lease payments, the Bank uses the implicit lease rate when readily determinable. As most of the Bank’s leases do not 5.47% March 31, 2020. Total rental expense was $120,000 three March 31, 2020 $65,000 three March 31, 2019. $2.9 March 31, 2020 $445,000 March 31, 2019. Total estimated rental commitments for the operating leases were as follows as of March 31, 2020 ( March 31, 2020 2020 $ 383 2021 260 2022 242 2023 246 2024 246 Thereafter 3,720 Total minimum lease payments 5,097 Discount effect of cash flows (2,214 ) Present value of lease liabilities $ 2,883 |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 5 – Other Real Estate Owned Other real estate owned (OREO) is real estate acquired as a result of foreclosure or by deed in lieu of foreclosure. It is classified as real estate owned until such time as it is sold. When property is acquired as a result of foreclosure or by deed in lieu of foreclosure, it is recorded at its fair market value less estimated cost to sell. Any write-down of the property at the time of acquisition is charged to the allowance for loan losses. The following table presents the major categories of OREO at the period-ends indicated: March 31, 20 20 December 31, 201 9 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 3,225 $ 3,225 $ 3,225 $ 3,225 Residential loans secured by 1 4 $156,000 $172,000 March 31, 2020 December 31, 2019, Activity relating to OREO during the three March 31, 2020 2019 For the Three Months Ended March 31, 20 20 20 19 (in thousands) OREO Activity OREO as of January 1 $ 3,225 $ 3,485 Real estate acquired — — Valuation adjustment write-downs — (150 ) Net gain (loss) on sales — — Proceeds from sales of properties — — OREO as of March 31 $ 3,225 $ 3,335 Expenses related to OREO include: For the Three Months Ended March 31 , 20 20 201 9 (in thousands) Net loss (gain) on sales $ — $ — Valuation adjustment write-downs — 150 Operating expense 16 16 Total $ 16 $ 166 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 The following table summarizes the Company’s acquired goodwill and intangible assets as of March 31, 2020 December 31, 2019 ( March 31 , 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Goodwill $ 6,252 $ — $ 6,252 $ — Core deposit intangibles 2,500 64 2,500 — Outstanding, ending $ 8,752 $ 64 $ 8,752 $ — The Company has $6.3 2019. not may not 19, March 31, 2020 no The Company also has a core deposit intangible asset, which is amortized over a weighted average estimated life of the related deposits and is not three March 31, 2020, $64,000. Amortization expense related to the core deposit intangible for the remainder of 2020 March 31, 2020 April 2020 – December 2020 $ 192 2021 256 2022 256 2023 256 2024 256 Thereafter 1,220 $ 2,436 |
Note 7 - Deposits
Note 7 - Deposits | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 7 – Deposits The following table details deposits by category: March 31 , 20 20 December 31, 201 9 (in thousands) Non-interest bearing $ 185,658 $ 187,551 Interest checking 157,621 146,038 Money market 154,851 160,837 Savings 92,235 56,015 Certificates of deposit 467,535 476,534 Total $ 1,057,900 $ 1,026,975 Time deposits of $250,000 $64.9 $51.2 March 31, 2020 December 31, 2019, Scheduled maturities of total time deposits at March 31, 2020 five Year 1 $ 383,049 Year 2 47,132 Year 3 10,719 Year 4 15,232 Year 5 10,854 Thereafter 549 $ 467,535 |
Note 8 - Advances from the Fede
Note 8 - Advances from the Federal Home Loan Bank | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 8 – Advance s from the Federal Home Loan Bank Advances from the Federal Home Loan Bank were as follows: March 31, December 31, 20 20 201 9 (in thousands) Short term advances (fixed rates 0.13% to 0.22%) maturing April 2020 $ 40,000 $ 60,000 Long term advances (fixed rates 0.00% to 5.24%) maturing April 2020 to August 2033 21,349 1,389 Total advances from the Federal Home Loan Bank $ 61,349 $ 61,389 FHLB advances had a weighted-average rate of 0.39% March 31, 2020 1.70% December 31, 2019. No 2020 2019. $158.5 $166.0 first March 31, 2020 December 31, 2019, March 31, 2020, $53.6 Scheduled principal payments on the above during the next five Advances Year 1 $ 41,090 Year 2 98 Year 3 99 Year 4 42 Year 5 16 Thereafter 20,004 $ 61,349 |
Note 9 - Borrowings
Note 9 - Borrowings | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | Note 9 – Borrowings Junior Subordinated Debentures not 20 may March 31, 2020, Subordinated Capital Note $17.0 July 31, 2029. 5.75% July 30, 2024 three 395 2 Senior Debt $5.0 June 30, 2022. three 250 June 30, 2020, $250,000 first 100% may The loan agreement contains customary representations, warranties, covenants and events of default, including the following financial covenants: (i) the Company must maintain minimum cash on hand of not $2,500,000, 10% 11% may not 2.5% March 31, 2020. |
Note 10 - Fair Values Measureme
Note 10 - Fair Values Measurement | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10 – Fair Values Measurement 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. Various valuation techniques are used to determine fair value, including market, income and cost approaches. There are three may Level 1: Level 2: 1 not Level 3: In certain cases, the inputs used to measure fair value may Securities: 1 not two 2 not 3 Impaired Loans: 3 may Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. These routine adjustments are made to adjust the value of a specific property relative to comparable properties for variations in qualities such as location, size, and income production capacity relative to the subject property of the appraisal. Such adjustments are typically significant and result in a Level 3 Management routinely applies internal discounts to the value of appraisals used in the fair value evaluation of our impaired loans. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from 10% 25% six ten Management also applies discounts to the expected fair value of collateral for impaired loans where the likely resolution involves litigation or foreclosure. Resolution of this nature generally results in receiving lower values for real estate collateral in a more aggressive sales environment. Discounts ranging from 10% 33% Impaired loans are evaluated quarterly for additional impairment. Management obtains updated appraisals on properties securing our loans when circumstances are warranted such as at the time of renewal or when market conditions have significantly changed. This determination is made on a property-by-property basis in light of circumstances in the broader economic climate and the assessment of deterioration of real estate values in the market in which the property is located. Other Real Estate Owned (OREO) For larger dollar commercial real estate properties, management obtains a new appraisal of the subject property or has staff in the special assets group evaluate the latest in-file appraisal in connection with the transfer to OREO. Management generally obtains updated appraisals within five Financial assets measured at fair value on a recurring basis at March 31, 2020 December 31, 2019 Fair Value Measurements at March 31, 20 20 Using (in thousands) Quoted Prices In Significant Active Markets for Significant Other Unobservable Carrying Identical Assets Observable Inputs Inputs Description Value (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government and federal agency $ 21,104 $ — $ 21,104 $ — Agency mortgage-backed: residential 89,101 — 89,101 — Collateralized loan obligations 40,754 — 40,754 — State and municipal 28,154 — 28,154 — Corporate bonds 19,544 — 19,544 — Total $ 198,657 $ — $ 198,657 $ — Fair Value Measurements at December 31, 201 9 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government and federal agency $ 22,330 $ — $ 22,330 $ — Agency mortgage-backed: residential 92,200 — 92,200 — Collateralized loan obligations 49,419 — 49,419 — State and municipal 28,366 — 28,366 — Corporate bonds 16,685 — 16,685 — Total $ 209,000 $ — $ 209,000 $ — There were no 1 2 2020 2019. Financial assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at March 31, 20 20 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans: Commercial real estate: Farmland $ 124 $ — $ — $ 124 Residential real estate: 1-4 Family 74 — — 74 Fair Value Measurements at December 31, 201 9 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans: Commercial $ 21 $ — $ — $ 21 Commercial real estate: Farmland 245 — — 245 Residential real estate: 1-4 Family 145 — — 145 Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $218,000 March 31, 2020 $20,000, no three March 31, 2020. $873,000 $193,000, no three March 31, 2019. December 31, 2019, $453,000, $42,000. Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated: Fair Value Measurements at March 31, 20 20 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 33,148 $ 33,148 $ — $ — $ 33,148 Securities available for sale 198,657 — 198,657 — 198,657 Federal Home Loan Bank stock 6,837 N/A N/A N/A N/A Loans, net 952,411 — — 903,898 903,898 Accrued interest receivable 4,219 — 993 3,226 4,219 Financial liabilities Deposits $ 1,057,900 $ 185,658 $ 874,347 $ — $ 1,060,005 Federal Home Loan Bank advances 61,349 — 61,357 — 61,357 Junior subordinated debentures 21,000 — — 14,153 14,153 Subordinated capital note 17,000 — — 16,095 16,095 Senior Debt 5,000 — — 4,900 4,900 Accrued interest payable 715 — 509 206 715 Fair Value Measurements at December 31, 201 9 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 30,203 $ 30,203 $ — $ — $ 30,203 Securities available for sale 209,000 — 209,000 — 209,000 Federal Home Loan Bank stock 6,237 N/A N/A N/A N/A Loans, net 917,895 — — 925,388 925,388 Accrued interest receivable 4,257 — 1,118 3,139 4,257 Financial liabilities Deposits $ 1,026,975 $ 187,551 $ 839,882 $ — $ 1,027,433 Federal Home Loan Bank advances 61,389 — 61,395 — 61,395 Junior subordinated debentures 21,000 — — 17,466 17,466 Subordinated capital note 17,000 — — 17,003 17,003 Senior Debt 5,000 — — 5,022 5,022 Accrued interest payable 1,129 — 647 482 1,129 In accordance with ASU 2016 01, may |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 11 – Income Taxes Deferred tax assets and liabilities were due to the following as of: March 31, December 31, 20 20 201 9 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 22,403 $ 22,915 Allowance for loan losses 2,283 2,090 OREO write-down 2,665 2,665 Alternative minimum tax credit carry-forward — 173 Net assets from acquisitions 188 228 Net unrealized loss on securities 646 — New market tax credit carry-forward 208 208 Nonaccrual loan interest 310 303 Accrued expenses 99 102 Lease liability 719 766 Other 295 309 29,816 29,759 Deferred tax liabilities: FHLB stock dividends 563 563 Fixed assets 49 57 Deferred loan costs 170 170 Net unrealized gain on securities — 331 Lease right-of-use assets 719 766 Other 107 107 1,608 1,994 Net deferred tax asset $ 28,208 $ 27,765 At March 31, 2020, $100.5 2032, $32.7 2025. March 31, 2020, $173,000 2019 The Company does not not twelve no three March 31, 2020 March 31, 2019 Under Section 382 382” 382. 5% 50 In 2015, two one July 10, 2015. 5% not 5% not not May 2018 June 30, 2021, ( no may 382 no On September 23, 2015, 382. May 2018 May 23, 2021, ( no may 382 no no The Company and its subsidiaries are subject to U.S. federal income tax and the Company is subject to income tax in the Commonwealth of Kentucky. The Company is no 2016. |
Note 12 - Stock Plans and Stock
Note 12 - Stock Plans and Stock Based Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 1 2 – Stock Plans and Stock Based Compensation Shares available for issuance under the 2018 “2018 273,329. three $25,000 December 31 The fair value of the 2020 $349,000, $17.03 $106,000 $82,000 three March 31, 2020 2019, $22,000 $17,000 three March 31, 2020 2019, The following table summarizes unvested share activity as of and for the periods indicated for the Stock Incentive Plan: Three Months Ended Twelve Months Ended March 31 , 20 20 December 31, 201 9 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 57,774 $ 13.35 116,909 $ 8.69 Granted 20,507 17.03 34,501 14.81 Vested (13,329 ) 11.85 (89,388 ) 7.83 Forfeited — — (4,248 ) 13.07 Outstanding, ending 64,952 $ 14.82 57,774 $ 13.35 Unrecognized stock-based compensation expense related to unvested shares for the remainder of 2020 April 2020 – December 2020 $ 305 2021 311 2022 136 2023 14 |
Note 13 - Earnings per Share
Note 13 - Earnings per Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 1 3 – Earnings per Share The factors used in the basic and diluted earnings per share computations follow: Three Months Ended March 31 , 20 20 201 9 (in thousands, except share and per share data) Net income $ 1,840 $ 2,839 Less: Earnings allocated to unvested shares 15 36 Net income available to common shareholders, basic and diluted $ 1,825 $ 2,803 Basic Weighted average common shares including unvested common shares outstanding 7,481,884 7,469,912 Less: Weighted average unvested common shares 61,363 94,909 Weighted average common shares outstanding 7,420,521 7,375,003 Basic income per common share $ 0.25 $ 0.38 Diluted Add: Dilutive effects of assumed exercises of common stock warrants — — Weighted average common shares and potential common shares 7,420,521 7,375,003 Diluted income per common share $ 0.25 $ 0.38 The Company had no March 31, 2020 2019. |
Note 14 - Regulatory Capital Ma
Note 14 - Regulatory Capital Matters | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 1 4 – Regulatory Capital Matters Banks and bank holding companies are subject to regulatory capital requirements in accordance with Basel III, as administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. The Basel III rules established a “capital conservation buffer” of 2.5% 1 7.0%, 1 8.5%, 10.5%. As of March 31, 2020, March 31, 2020, no The following tables show the ratios (excluding capital conservation buffer) and amounts of common equity Tier 1, 1 Actual Minimum Requirement for Capital Adequacy Purposes Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of March 31, 20 20 : Total risk-based capital (to risk-weighted assets) $ 129,035 12.38 $ 83,378 8.00 $ 104,223 10.00 % Total common equity Tier 1 risk-based capital (to risk-weighted assets) 119,885 11.50 46,900 4.50 67,745 6.50 Tier 1 capital (to risk-weighted assets) 119,885 11.50 62,534 6.00 83,378 8.00 Tier 1 capital (to average assets) 119,885 9.67 49,607 4.00 62,008 5.00 Actual Minimum Requirement for Capital Adequacy Purposes Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 201 9 : Total risk-based capital (to risk- weighted assets) $ 121,335 12.08 % $ 80,341 8.00 % $ 100,426 10.00 % Total common equity Tier 1 risk- based capital (to risk-weighted assets) 112,959 11.25 45,192 4.50 65,277 6.50 Tier 1 capital (to risk-weighted assets) 112,959 11.25 60,256 6.00 80,341 8.00 Tier 1 capital (to average assets) 112,959 9.99 45,208 4.00 56,510 5.00 Kentucky banking laws limit the amount of dividends that may may two |
Note 15 - Off Balance Sheet Ris
Note 15 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 1 5 – Off Balance Sheet Risks, Commitments, and Contingent Liabilities The Company, in the normal course of business, is party to financial instruments with off balance sheet risk. The financial instruments include commitments to extend credit and standby letters of credit. The contract or notional amounts of these instruments reflect the potential future obligations of the Company pursuant to those financial instruments. Creditworthiness for all instruments is evaluated on a case-by-case basis in accordance with the Company’s credit policies. Collateral from the client may may An approved but unfunded loan commitment represents a potential credit risk and a liquidity risk, since the Company’s client(s) may may may not one Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a client to a third not No The following table presents the contractual amounts of financial instruments with off-balance sheet risk for each period ended: March 31, 20 20 December 31, 201 9 Fixed Rate Variable Rate Fixed Rate Variable Rate (in thousands) Commitments to make loans $ 12,403 $ 26,290 $ 11,577 $ 20,415 Unused lines of credit 8,684 96,982 7,916 111,230 Standby letters of credit 531 1,336 531 3,164 Commitments to make loans are generally made for periods of one In connection with the purchase of loan participations, the Bank entered into risk participation agreements, which had notional amounts totaling $26.6 March 31, 2020 December 31, 2019. not 815, not In the normal course of business, the Company and its subsidiaries have been named, from time to time, as defendants in various legal actions. Certain of the actual or threatened legal actions may The Company contests liability and/or the amount of damages as appropriate in each pending matter. In view of the inherent difficulty of predicting the outcome of such matters, particularly in cases where claimants seek substantial or indeterminate damages or where investigations and proceedings are in the early stages, the Company cannot predict with certainty the loss or range of loss, if any, related to such matters, how or if such matters will be resolved, when they will ultimately be resolved, or what the eventual settlement, or other relief, if any, might be. Subject to the foregoing, the Company believes, based on current knowledge and after consultation with counsel, that the outcome of such pending matters will not 1 2 not |
Note 16 - Revenue from Contract
Note 16 - Revenue from Contracts With Customers | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 1 6 – Revenue from Contracts with Customers All of the Company’s revenue from customers within the scope of ASC 606 606 Service Charges on Deposit Accounts: Bank Card Interchange Income: third 606, 606, Gains/Losses on Sales of OREO: Other Non-interest I ncome 606, $156,000 $136,000 three March 31, 2020 March 31, 2019, 606. three 606. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation 100% The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10 10 01 X. not three March 31, 2020 not may December 31, 2019 10 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In March 2020, 2019 19" 19 The extent to which the COVID- 19 third 19 may |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications not |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards – June 2016, No. 2016 13, 326 first one first December 2018, three one may October 2019, not December 15, 2022. |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) March 31, 20 20 Available for sale U.S. Government and federal agency $ 20,751 $ 353 $ — $ 21,104 Agency mortgage-backed: residential 86,840 2,428 (167 ) 89,101 Collateralized loan obligations 44,732 — (3,978 ) 40,754 State and municipal 28,301 346 (493 ) 28,154 Corporate bonds 20,831 199 (1,486 ) 19,544 Total available for sale $ 201,455 $ 3,326 $ (6,124 ) $ 198,657 December 31, 201 9 Amortized Cost Gross Unre alized Gains Gross Unre alized Losses Fair Value Available for sale U.S. Government and federal agency $ 22,281 $ 196 $ (147 ) $ 22,330 Agency mortgage-backed: residential 91,269 1,186 (255 ) 92,200 Collateralized loan obligations 49,831 — (412 ) 49,419 State and municipal 27,819 550 (3 ) 28,366 Corporate bonds 16,472 213 — 16,685 Total available for sale $ 207,672 $ 2,145 $ (817 ) $ 209,000 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended March 31, 20 20 201 9 (in thousands) Proceeds $ 6,000 $ 1,000 Gross gains — — Gross losses — — |
Investments Classified by Contractual Maturity Date [Table Text Block] | March 31 , 20 20 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ 31,403 $ 30,003 One to five years 40,037 40,515 Five to ten years 23,970 22,852 Beyond ten years 19,205 16,186 Agency mortgage-backed: residential 86,840 89,101 Total $ 201,455 $ 198,657 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss (in thousands) March 31, 20 20 Available for sale U.S. Government and federal agency $ — $ — $ — $ — $ — $ — Agency mortgage-backed: residential 10,843 (120 ) 1,617 (47 ) 12,460 (167 ) Collateralized loan obligations 10,702 (843 ) 30,052 (3,135 ) 40,754 (3,978 ) State and municipal 10,192 (493 ) — — 10,192 (493 ) Corporate bonds 11,008 (1,486 ) — — 11,008 (1,486 ) Total temporarily impaired $ 42,745 $ (2,942 ) $ 31,669 $ (3,182 ) $ 74,414 $ (6,124 ) December 31, 201 9 Available for sale U.S. Government and federal agency $ 12,567 $ (147 ) $ — $ — $ 12,567 $ (147 ) Agency mortgage-backed: residential 18,457 (97 ) 10,665 (158 ) 29,122 (255 ) Collateralized loan obligations 9,539 (46 ) 35,336 (366 ) 44,875 (412 ) State and municipal 911 (3 ) — — 911 (3 ) Corporate bonds — — — — — — Total temporarily impaired $ 41,474 $ (293 ) $ 46,001 $ (524 ) $ 87,475 $ (817 ) |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 20 20 201 9 (in thousands) Commercial $ 169,176 $ 145,551 Commercial Real Estate: Construction 71,267 64,911 Farmland 80,579 79,118 Nonfarm nonresidential 261,807 255,459 Residential Real Estate: Multi-family 75,525 70,950 1-4 Family 220,701 226,629 Consumer 44,814 47,790 Agriculture 36,977 35,064 Other 715 799 Subtotal 961,561 926,271 Less: Allowance for loan losses (9,150 ) (8,376 ) Loans, net $ 952,411 $ 917,895 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) March 31, 20 20 : Beginning balance $ 1,710 $ 4,080 $ 1,743 $ 485 $ 355 $ 3 $ 8,376 Provision (negative provision) 339 141 220 265 87 (2 ) 1,050 Loans charged off (29 ) (29 ) (75 ) (161 ) (41 ) – (335 ) Recoveries 5 20 21 4 8 1 59 Ending balance $ 2,025 $ 4,212 $ 1,909 $ 593 $ 409 $ 2 $ 9,150 March 31, 201 9 : Beginning balance $ 1,299 $ 4,676 $ 2,452 $ 130 $ 321 $ 2 $ 8,880 Provision (negative provision) 143 (165 ) (204 ) 193 33 – – Loans charged off – (15 ) (82 ) (180 ) (1 ) – (278 ) Recoveries 5 2 61 16 – – 84 Ending balance $ 1,447 $ 4,498 $ 2,227 $ 159 $ 353 $ 2 $ 8,686 |
Impairment Evaluation of Financing Receivables [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ – $ 19 $ 1 $ – $ – $ – $ 20 Collectively evaluated for impairment 2,025 4,193 1,908 593 409 2 9,130 Total ending allowance balance $ 2,025 $ 4,212 $ 1,909 $ 593 $ 409 $ 2 $ 9,150 Loans: Loans individually evaluated for impairment $ 158 $ 922 $ 921 $ 143 $ – $ – $ 2,144 Loans collectively evaluated for impairment 169,018 412,731 295,305 44,671 36,977 715 959,417 Total ending loans balance $ 169,176 $ 413,653 $ 296,226 $ 44,814 $ 36,977 $ 715 $ 961,561 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 3 $ 37 $ 2 $ – $ – $ – $ 42 Collectively evaluated for impairment 1,707 4,043 1,741 485 355 3 8,334 Total ending allowance balance $ 1,710 $ 4,080 $ 1,743 $ 485 $ 355 $ 3 $ 8,376 Loans: Loans individually evaluated for impairment $ 74 $ 1,064 $ 892 $ 98 $ 42 $ – $ 2,170 Loans collectively evaluated for impairment 145,477 398,424 296,687 47,692 35,022 799 924,101 Total ending loans balance $ 145,551 $ 399,488 $ 297,579 $ 47,790 $ 35,064 $ 799 $ 926,271 |
Impaired Financing Receivables [Table Text Block] | As of March 31, 20 20 T hree Months Ended March 31, 20 20 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 265 $ 158 $ — $ 104 $ — $ — Commercial real estate: Construction — — — — — — Farmland 414 299 — 296 10 10 Nonfarm nonresidential 1,043 480 — 485 8 — Residential real estate: Multi-family — — — — — — 1-4 Family 1,862 846 — 795 3 3 Consumer 354 143 — 121 1 1 Agriculture 297 — — 21 — — Other — — — — — — Subtotal 4,235 1,926 — 1,822 22 14 With An Allowance Recorded: Commercial — — — 12 — — Commercial real estate: Construction — — — — — — Farmland 143 143 19 212 2 — Nonfarm nonresidential — — — — — — Residential real estate: Multi-family — — — — — — 1-4 Family 75 75 1 111 2 — Consumer — — — — — — Agriculture — — — — — — Other — — — — — — Subtotal 218 218 20 335 4 — Total $ 4,453 $ 2,144 $ 20 $ 2,157 $ 26 $ 14 As of December 31, 201 9 T hree Months Ended March 31, 201 9 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 138 $ 50 $ — $ 52 $ — $ — Commercial real estate: Construction — — — — — — Farmland 380 293 — 98 5 5 Nonfarm nonresidential 1,057 489 — 256 3 3 Residential real estate: Multi-family — — — — — — 1-4 Family 1,679 745 — 1,544 22 22 Consumer 309 98 — 14 — — Agriculture 304 42 — 32 — — Other — — — — — — Subtotal 3,867 1,717 — 1,996 30 30 With An Allowance Recorded: Commercial 24 24 3 — — — Commercial real estate: Construction — — — — — — Farmland 282 282 37 158 — — Nonfarm nonresidential — — — — — — Residential real estate: Multi-family — — — — — — 1-4 Family 183 147 2 719 11 — Consumer — — — — — — Agriculture — — — — — — Other — — — — — — Subtotal 489 453 42 877 11 — Total $ 4,356 $ 2,170 $ 42 $ 2,873 $ 41 $ 30 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) March 31, 20 20 Commercial Real Estate: Nonfarm nonresidential $ 391 $ — $ 391 Residential Real Estate: 1-4 Family 75 — 75 Total TDRs $ 466 $ — $ 466 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 201 9 Commercial Real Estate: Nonfarm nonresidential $ 400 $ — $ 400 Residential Real Estate: 1-4 Family 75 — 75 Total TDRs $ 475 $ — $ 475 |
Financing Receivable, Nonaccrual [Table Text Block] | Nonaccrual Loans Past Due 90 Days And Over Still Accruing March 31 , 20 20 December 31, 201 9 March 31 , 20 20 December 31, 201 9 (in thousands) Commercial $ 158 $ 50 $ — $ — Commercial Real Estate: Construction — — — — Farmland 298 431 — — Nonfarm nonresidential 89 90 — — Residential Real Estate: Multi-family — — — — 1-4 Family 812 817 — — Consumer 143 98 — — Agriculture — 42 — — Other — — — — Total $ 1,500 $ 1,528 $ — $ — |
Financing Receivable, Past Due [Table Text Block] | 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) March 31, 20 20 Commercial $ — $ 1 $ — $ 158 $ 159 Commercial Real Estate: Construction — — — — — Farmland 81 — — 298 379 Nonfarm nonresidential 19 41 — 89 149 Residential Real Estate: Multi-family — — — — — 1-4 Family 961 147 — 812 1,920 Consumer 97 56 — 143 296 Agriculture — 3 — — 3 Other — — — — — Total $ 1,158 $ 248 $ — $ 1,500 $ 2,906 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) December 31, 201 9 Commercial $ 14 $ 3 $ — $ 50 $ 67 Commercial Real Estate: Construction — — — — — Farmland 274 — — 431 705 Nonfarm nonresidential 206 — — 90 296 Residential Real Estate: Multi-family — — — — — 1-4 Family 1,162 503 — 817 2,482 Consumer 91 164 — 98 353 Agriculture — — — 42 42 Other — — — — — Total $ 1,747 $ 670 $ — $ 1,528 $ 3,945 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Doubtful Total (in thousands) March 31, 20 20 Commercial $ 146,310 $ 20,903 $ — $ 1,963 $ — $ 169,176 Commercial Real Estate: Construction 71,267 — — — — 71,267 Farmland 73,202 6,568 — 809 — 80,579 Nonfarm nonresidential 252,982 7,152 — 1,673 — 261,807 Residential Real Estate: Multi-family 75,525 — — — — 75,525 1-4 Family 214,559 3,683 — 2,459 — 220,701 Consumer 44,640 3 — 171 — 44,814 Agriculture 36,785 155 — 37 — 36,977 Other 715 — — — — 715 Total $ 915,985 $ 38,464 $ — $ 7,112 $ — $ 961,561 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 201 9 Commercial $ 130,312 $ 11,280 $ — $ 3,959 $ — $ 145,551 Commercial Real Estate: Construction 64,911 — — — — 64,911 Farmland 71,503 6,663 — 952 — 79,118 Nonfarm nonresidential 245,995 6,986 — 2,478 — 255,459 Residential Real Estate: Multi-family 70,950 — — — — 70,950 1-4 Family 221,727 2,420 — 2,482 — 226,629 Consumer 47,657 5 — 128 — 47,790 Agriculture 34,853 168 — 43 — 35,064 Other 799 — — — — 799 Total $ 888,707 $ 27,522 $ — $ 10,042 $ — $ 926,271 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | March 31, 2020 2020 $ 383 2021 260 2022 242 2023 246 2024 246 Thereafter 3,720 Total minimum lease payments 5,097 Discount effect of cash flows (2,214 ) Present value of lease liabilities $ 2,883 |
Note 5 - Other Real Estate Ow_2
Note 5 - Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | March 31, 20 20 December 31, 201 9 (in thousands) Commercial Real Estate: Construction, land development, and other land $ 3,225 $ 3,225 $ 3,225 $ 3,225 |
Schedule of Expenses Related to Foreclosed Real Estate [Table Text Block] | For the Three Months Ended March 31, 20 20 20 19 (in thousands) OREO Activity OREO as of January 1 $ 3,225 $ 3,485 Real estate acquired — — Valuation adjustment write-downs — (150 ) Net gain (loss) on sales — — Proceeds from sales of properties — — OREO as of March 31 $ 3,225 $ 3,335 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Three Months Ended March 31 , 20 20 201 9 (in thousands) Net loss (gain) on sales $ — $ — Valuation adjustment write-downs — 150 Operating expense 16 16 Total $ 16 $ 166 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | March 31 , 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Goodwill $ 6,252 $ — $ 6,252 $ — Core deposit intangibles 2,500 64 2,500 — Outstanding, ending $ 8,752 $ 64 $ 8,752 $ — |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | March 31, 2020 April 2020 – December 2020 $ 192 2021 256 2022 256 2023 256 2024 256 Thereafter 1,220 $ 2,436 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Deposits [Table Text Block] | March 31 , 20 20 December 31, 201 9 (in thousands) Non-interest bearing $ 185,658 $ 187,551 Interest checking 157,621 146,038 Money market 154,851 160,837 Savings 92,235 56,015 Certificates of deposit 467,535 476,534 Total $ 1,057,900 $ 1,026,975 |
Schedule of Maturities of Time Deposits [Table Text Block] | Year 1 $ 383,049 Year 2 47,132 Year 3 10,719 Year 4 15,232 Year 5 10,854 Thereafter 549 $ 467,535 |
Note 8 - Advances from the Fe_2
Note 8 - Advances from the Federal Home Loan Bank (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | March 31, December 31, 20 20 201 9 (in thousands) Short term advances (fixed rates 0.13% to 0.22%) maturing April 2020 $ 40,000 $ 60,000 Long term advances (fixed rates 0.00% to 5.24%) maturing April 2020 to August 2033 21,349 1,389 Total advances from the Federal Home Loan Bank $ 61,349 $ 61,389 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Advances Year 1 $ 41,090 Year 2 98 Year 3 99 Year 4 42 Year 5 16 Thereafter 20,004 $ 61,349 |
Note 10 - Fair Values Measure_2
Note 10 - Fair Values Measurement (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at March 31, 20 20 Using (in thousands) Quoted Prices In Significant Active Markets for Significant Other Unobservable Carrying Identical Assets Observable Inputs Inputs Description Value (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government and federal agency $ 21,104 $ — $ 21,104 $ — Agency mortgage-backed: residential 89,101 — 89,101 — Collateralized loan obligations 40,754 — 40,754 — State and municipal 28,154 — 28,154 — Corporate bonds 19,544 — 19,544 — Total $ 198,657 $ — $ 198,657 $ — Fair Value Measurements at December 31, 201 9 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government and federal agency $ 22,330 $ — $ 22,330 $ — Agency mortgage-backed: residential 92,200 — 92,200 — Collateralized loan obligations 49,419 — 49,419 — State and municipal 28,366 — 28,366 — Corporate bonds 16,685 — 16,685 — Total $ 209,000 $ — $ 209,000 $ — Fair Value Measurements at March 31, 20 20 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans: Commercial real estate: Farmland $ 124 $ — $ — $ 124 Residential real estate: 1-4 Family 74 — — 74 Fair Value Measurements at December 31, 201 9 Using (in thousands) Description Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans: Commercial $ 21 $ — $ — $ 21 Commercial real estate: Farmland 245 — — 245 Residential real estate: 1-4 Family 145 — — 145 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at March 31, 20 20 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 33,148 $ 33,148 $ — $ — $ 33,148 Securities available for sale 198,657 — 198,657 — 198,657 Federal Home Loan Bank stock 6,837 N/A N/A N/A N/A Loans, net 952,411 — — 903,898 903,898 Accrued interest receivable 4,219 — 993 3,226 4,219 Financial liabilities Deposits $ 1,057,900 $ 185,658 $ 874,347 $ — $ 1,060,005 Federal Home Loan Bank advances 61,349 — 61,357 — 61,357 Junior subordinated debentures 21,000 — — 14,153 14,153 Subordinated capital note 17,000 — — 16,095 16,095 Senior Debt 5,000 — — 4,900 4,900 Accrued interest payable 715 — 509 206 715 Fair Value Measurements at December 31, 201 9 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 30,203 $ 30,203 $ — $ — $ 30,203 Securities available for sale 209,000 — 209,000 — 209,000 Federal Home Loan Bank stock 6,237 N/A N/A N/A N/A Loans, net 917,895 — — 925,388 925,388 Accrued interest receivable 4,257 — 1,118 3,139 4,257 Financial liabilities Deposits $ 1,026,975 $ 187,551 $ 839,882 $ — $ 1,027,433 Federal Home Loan Bank advances 61,389 — 61,395 — 61,395 Junior subordinated debentures 21,000 — — 17,466 17,466 Subordinated capital note 17,000 — — 17,003 17,003 Senior Debt 5,000 — — 5,022 5,022 Accrued interest payable 1,129 — 647 482 1,129 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | March 31, December 31, 20 20 201 9 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 22,403 $ 22,915 Allowance for loan losses 2,283 2,090 OREO write-down 2,665 2,665 Alternative minimum tax credit carry-forward — 173 Net assets from acquisitions 188 228 Net unrealized loss on securities 646 — New market tax credit carry-forward 208 208 Nonaccrual loan interest 310 303 Accrued expenses 99 102 Lease liability 719 766 Other 295 309 29,816 29,759 Deferred tax liabilities: FHLB stock dividends 563 563 Fixed assets 49 57 Deferred loan costs 170 170 Net unrealized gain on securities — 331 Lease right-of-use assets 719 766 Other 107 107 1,608 1,994 Net deferred tax asset $ 28,208 $ 27,765 |
Note 12 - Stock Plans and Sto_2
Note 12 - Stock Plans and Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Nonvested Share Activity [Table Text Block] | Three Months Ended Twelve Months Ended March 31 , 20 20 December 31, 201 9 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 57,774 $ 13.35 116,909 $ 8.69 Granted 20,507 17.03 34,501 14.81 Vested (13,329 ) 11.85 (89,388 ) 7.83 Forfeited — — (4,248 ) 13.07 Outstanding, ending 64,952 $ 14.82 57,774 $ 13.35 |
Share-based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | April 2020 – December 2020 $ 305 2021 311 2022 136 2023 14 |
Note 13 - Earnings per Share (T
Note 13 - Earnings per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31 , 20 20 201 9 (in thousands, except share and per share data) Net income $ 1,840 $ 2,839 Less: Earnings allocated to unvested shares 15 36 Net income available to common shareholders, basic and diluted $ 1,825 $ 2,803 Basic Weighted average common shares including unvested common shares outstanding 7,481,884 7,469,912 Less: Weighted average unvested common shares 61,363 94,909 Weighted average common shares outstanding 7,420,521 7,375,003 Basic income per common share $ 0.25 $ 0.38 Diluted Add: Dilutive effects of assumed exercises of common stock warrants — — Weighted average common shares and potential common shares 7,420,521 7,375,003 Diluted income per common share $ 0.25 $ 0.38 |
Note 14 - Regulatory Capital _2
Note 14 - Regulatory Capital Matters (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Requirement for Capital Adequacy Purposes Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of March 31, 20 20 : Total risk-based capital (to risk-weighted assets) $ 129,035 12.38 $ 83,378 8.00 $ 104,223 10.00 % Total common equity Tier 1 risk-based capital (to risk-weighted assets) 119,885 11.50 46,900 4.50 67,745 6.50 Tier 1 capital (to risk-weighted assets) 119,885 11.50 62,534 6.00 83,378 8.00 Tier 1 capital (to average assets) 119,885 9.67 49,607 4.00 62,008 5.00 Actual Minimum Requirement for Capital Adequacy Purposes Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 201 9 : Total risk-based capital (to risk- weighted assets) $ 121,335 12.08 % $ 80,341 8.00 % $ 100,426 10.00 % Total common equity Tier 1 risk- based capital (to risk-weighted assets) 112,959 11.25 45,192 4.50 65,277 6.50 Tier 1 capital (to risk-weighted assets) 112,959 11.25 60,256 6.00 80,341 8.00 Tier 1 capital (to average assets) 112,959 9.99 45,208 4.00 56,510 5.00 |
Note 15 - Off Balance Sheet R_2
Note 15 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | March 31, 20 20 December 31, 201 9 Fixed Rate Variable Rate Fixed Rate Variable Rate (in thousands) Commitments to make loans $ 12,403 $ 26,290 $ 11,577 $ 20,415 Unused lines of credit 8,684 96,982 7,916 111,230 Standby letters of credit 531 1,336 531 3,164 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) | Mar. 31, 2020 |
Limestone Bank [Member] | |
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) $ in Thousands | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 80,900 | $ 75,800 |
Debt Securities, Available-for-sale, Total | $ 198,657 | $ 209,000 |
Concentration Risk Number | 0 | 0 |
Risk Level, AA Rated [Member] | ||
Collateralized Agreements, Total | $ 25,700 | |
Risk Level, A Rated [Member] | ||
Collateralized Agreements, Total | 15,000 | |
Risk Level, Below A Rated [Member] | ||
Collateralized Agreements, Total | 0 | |
Risk Level, Subject to Downgrade [Member] | ||
Collateralized Agreements, Total | 0 | |
Kentucky Municipalities [Member] | ||
Debt Securities, Available-for-sale, Total | 17,000 | $ 14,500 |
Collateralized Debt Obligations [Member] | ||
Debt Securities, Available-for-sale, Total | $ 40,754 | $ 49,419 |
Collateralized Debt Obligations [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.1 | |
Collateralized Debt Obligations [Member] | Measurement Input, Constant Default Rate for First Four Years [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.12 | |
Collateralized Debt Obligations [Member] | Measurement Input, Constant Default Rate for After First Four Years [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.04 | |
Collateralized Debt Obligations [Member] | Measurement Input, Recovery Rate Over One Year Lag [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.45 |
Note 2 - Securities - Amortized
Note 2 - Securities - Amortized Cost, Gross Unrealized Gains or Losses, and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Available for sale securities, amortized cost | $ 201,455 | $ 207,672 |
Available for sale securities, gross unrealized gains | 3,326 | 2,145 |
Available for sale securities, gross unrealized losses | (6,124) | (817) |
Securities available for sale | 198,657 | 209,000 |
US Treasury and Government [Member] | ||
Available for sale securities, amortized cost | 20,751 | 22,281 |
Available for sale securities, gross unrealized gains | 353 | 196 |
Available for sale securities, gross unrealized losses | (147) | |
Securities available for sale | 21,104 | 22,330 |
Residential Mortgage Backed Securities [Member] | ||
Available for sale securities, amortized cost | 86,840 | 91,269 |
Available for sale securities, gross unrealized gains | 2,428 | 1,186 |
Available for sale securities, gross unrealized losses | (167) | (255) |
Securities available for sale | 89,101 | 92,200 |
Collateralized Debt Obligations [Member] | ||
Available for sale securities, amortized cost | 44,732 | 49,831 |
Available for sale securities, gross unrealized gains | ||
Available for sale securities, gross unrealized losses | (3,978) | (412) |
Securities available for sale | 40,754 | 49,419 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, amortized cost | 28,301 | 27,819 |
Available for sale securities, gross unrealized gains | 346 | 550 |
Available for sale securities, gross unrealized losses | (493) | (3) |
Securities available for sale | 28,154 | 28,366 |
Corporate Debt Securities [Member] | ||
Available for sale securities, amortized cost | 20,831 | 16,472 |
Available for sale securities, gross unrealized gains | 199 | 213 |
Available for sale securities, gross unrealized losses | (1,486) | |
Securities available for sale | $ 19,544 | $ 16,685 |
Note 2 - Securities - Sales and
Note 2 - Securities - Sales and Calls of Securities (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Proceeds | $ 6 | $ 1 |
Gross gains | ||
Gross losses |
Note 2 - Securities - Amortiz_2
Note 2 - Securities - Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Within one year, amortized cost | $ 31,403 | |
Within one year, fair value | 30,003 | |
One to five years, amortized cost | 40,037 | |
One to five years, fair value | 40,515 | |
Five to ten years, amortized cost | 23,970 | |
Five to ten years, fair value | 22,852 | |
Beyond ten years, amortized cost | 19,205 | |
Beyond ten years, fair value | 16,186 | |
Agency mortgage-backed: residential, amortized cost | 86,840 | |
Agency mortgage-backed: residential, fair value | 89,101 | |
Total, amortized cost | 201,455 | $ 207,672 |
Total, fair value | $ 198,657 | $ 209,000 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Available for sale, fair value, less than 12 months | $ 42,745 | $ 41,474 |
Available for sale, unrealized loss, less than 12 months | (2,942) | (293) |
Available for sale, fair value, 12 months or more | 31,669 | 46,001 |
Available for sale, unrealized loss, 12 months or more | (3,182) | (524) |
Available for sale, fair value | 74,414 | 87,475 |
Available for sale, unrealized loss | (6,124) | (817) |
US Treasury and Government [Member] | ||
Available for sale, fair value, less than 12 months | 12,567 | |
Available for sale, unrealized loss, less than 12 months | (147) | |
Available for sale, fair value, 12 months or more | ||
Available for sale, unrealized loss, 12 months or more | ||
Available for sale, fair value | 12,567 | |
Available for sale, unrealized loss | (147) | |
Residential Mortgage Backed Securities [Member] | ||
Available for sale, fair value, less than 12 months | 10,843 | 18,457 |
Available for sale, unrealized loss, less than 12 months | (120) | (97) |
Available for sale, fair value, 12 months or more | 1,617 | 10,665 |
Available for sale, unrealized loss, 12 months or more | (47) | (158) |
Available for sale, fair value | 12,460 | 29,122 |
Available for sale, unrealized loss | (167) | (255) |
Collateralized Loan Obligations [Member] | ||
Available for sale, fair value, less than 12 months | 10,702 | 9,539 |
Available for sale, unrealized loss, less than 12 months | (843) | (46) |
Available for sale, fair value, 12 months or more | 30,052 | 35,336 |
Available for sale, unrealized loss, 12 months or more | (3,135) | (366) |
Available for sale, fair value | 40,754 | 44,875 |
Available for sale, unrealized loss | (3,978) | (412) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale, fair value, less than 12 months | 10,192 | 911 |
Available for sale, unrealized loss, less than 12 months | (493) | (3) |
Available for sale, fair value, 12 months or more | ||
Available for sale, unrealized loss, 12 months or more | ||
Available for sale, fair value | 10,192 | 911 |
Available for sale, unrealized loss | (493) | (3) |
Corporate Debt Securities [Member] | ||
Available for sale, fair value, less than 12 months | 11,008 | |
Available for sale, unrealized loss, less than 12 months | (1,486) | |
Available for sale, fair value, 12 months or more | ||
Available for sale, unrealized loss, 12 months or more | ||
Available for sale, fair value | 11,008 | |
Available for sale, unrealized loss | $ (1,486) |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | ||
Mar. 31, 2020USD ($) | Mar. 31, 2019 | Dec. 31, 2019USD ($) | |
Financing Receivable Modifications Percentage of Performing TDRs to Total TDRs | 100.00% | 100.00% | |
Troubled Debt Restructuring Reserve | $ 1,000 | $ 1,000 | |
Financing Receivable, Modifications, Number of Contracts | $ 0 | $ 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 |
Note 3 - Loans - Loans (Details
Note 3 - Loans - Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Gross loans | $ 961,561 | $ 926,271 |
Less: Allowance for loan losses | (9,150) | (8,376) |
Loans, net | 952,411 | 917,895 |
Commercial Portfolio Segment [Member] | ||
Gross loans | 169,176 | 145,551 |
Less: Allowance for loan losses | (2,025) | (1,710) |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 413,653 | 399,488 |
Less: Allowance for loan losses | (4,212) | (4,080) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 71,267 | 64,911 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Gross loans | 80,579 | 79,118 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 261,807 | 255,459 |
Residential Portfolio Segment [Member] | ||
Gross loans | 296,226 | 297,579 |
Less: Allowance for loan losses | (1,909) | (1,743) |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Gross loans | 75,525 | 70,950 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 220,701 | 226,629 |
Consumer Portfolio Segment [Member] | ||
Gross loans | 44,814 | 47,790 |
Less: Allowance for loan losses | (593) | (485) |
Agriculture Portfolio Segment [Member] | ||
Gross loans | 36,977 | 35,064 |
Less: Allowance for loan losses | (409) | (355) |
Other Portfolio Segment [Member] | ||
Gross loans | 715 | 799 |
Less: Allowance for loan losses | $ (2) | $ (3) |
Note 3 - Loans - Activity in Al
Note 3 - Loans - Activity in Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance | $ 8,376 | $ 8,880 |
Provision for loan losses | 1,050 | |
Loans charged off | (335) | (278) |
Recoveries | 59 | 84 |
Balance | 9,150 | 8,686 |
Commercial Portfolio Segment [Member] | ||
Balance | 1,710 | 1,299 |
Provision for loan losses | 339 | 143 |
Loans charged off | (29) | |
Recoveries | 5 | 5 |
Balance | 2,025 | 1,447 |
Commercial Real Estate Portfolio Segment [Member] | ||
Balance | 4,080 | 4,676 |
Provision for loan losses | 141 | (165) |
Loans charged off | (29) | (15) |
Recoveries | 20 | 2 |
Balance | 4,212 | 4,498 |
Residential Portfolio Segment [Member] | ||
Balance | 1,743 | 2,452 |
Provision for loan losses | 220 | (204) |
Loans charged off | (75) | (82) |
Recoveries | 21 | 61 |
Balance | 1,909 | 2,227 |
Consumer Portfolio Segment [Member] | ||
Balance | 485 | 130 |
Provision for loan losses | 265 | 193 |
Loans charged off | (161) | (180) |
Recoveries | 4 | 16 |
Balance | 593 | 159 |
Agriculture Portfolio Segment [Member] | ||
Balance | 355 | 321 |
Provision for loan losses | 87 | 33 |
Loans charged off | (41) | (1) |
Recoveries | 8 | |
Balance | 409 | 353 |
Other Portfolio Segment [Member] | ||
Balance | 3 | 2 |
Provision for loan losses | (2) | |
Loans charged off | ||
Recoveries | 1 | |
Balance | $ 2 | $ 2 |
Note 3 - Loans - Balance in All
Note 3 - Loans - Balance in Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Bases on Impairment Method (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Individually evaluated for impairment | $ 20 | $ 42 |
Collectively evaluated for impairment | 9,130 | 8,334 |
Total ending allowance balance | 9,150 | 8,376 |
Loans individually evaluated for impairment | 2,144 | 2,170 |
Loans collectively evaluated for impairment | 959,417 | 924,101 |
Total ending loans balance | 961,561 | 926,271 |
Commercial Portfolio Segment [Member] | ||
Individually evaluated for impairment | 3 | |
Collectively evaluated for impairment | 2,025 | 1,707 |
Total ending allowance balance | 2,025 | 1,710 |
Loans individually evaluated for impairment | 158 | 74 |
Loans collectively evaluated for impairment | 169,018 | 145,477 |
Total ending loans balance | 169,176 | 145,551 |
Commercial Real Estate Portfolio Segment [Member] | ||
Individually evaluated for impairment | 19 | 37 |
Collectively evaluated for impairment | 4,193 | 4,043 |
Total ending allowance balance | 4,212 | 4,080 |
Loans individually evaluated for impairment | 922 | 1,064 |
Loans collectively evaluated for impairment | 412,731 | 398,424 |
Total ending loans balance | 413,653 | 399,488 |
Residential Portfolio Segment [Member] | ||
Individually evaluated for impairment | 1 | 2 |
Collectively evaluated for impairment | 1,908 | 1,741 |
Total ending allowance balance | 1,909 | 1,743 |
Loans individually evaluated for impairment | 921 | 892 |
Loans collectively evaluated for impairment | 295,305 | 296,687 |
Total ending loans balance | 296,226 | 297,579 |
Consumer Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 593 | 485 |
Total ending allowance balance | 593 | 485 |
Loans individually evaluated for impairment | 143 | 98 |
Loans collectively evaluated for impairment | 44,671 | 47,692 |
Total ending loans balance | 44,814 | 47,790 |
Agriculture Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 409 | 355 |
Total ending allowance balance | 409 | 355 |
Loans individually evaluated for impairment | 42 | |
Loans collectively evaluated for impairment | 36,977 | 35,022 |
Total ending loans balance | 36,977 | 35,064 |
Other Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 2 | 3 |
Total ending allowance balance | 2 | 3 |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 715 | 799 |
Total ending loans balance | $ 715 | $ 799 |
Note 3 - Loans - Loans Individu
Note 3 - Loans - Loans Individually Evaluated for Impairment by Class of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Unpaid principal balance, with no related allowance recorded | $ 4,235 | $ 3,867 |
Recorded investment, with no related allowance recorded | 1,926 | 1,717 |
Average recorded investment, with no related allowance recorded | 1,822 | 1,996 |
Interest income recognized, with no related allowance recorded | 22 | 30 |
Cash basis interest income recognized, with no related allowance recorded | 14 | 30 |
Unpaid principal balance, with an allowance recorded | 218 | 489 |
Recorded investment, with an allowance recorded | 218 | 453 |
Allowance for loan losses allocated, with an allowance recorded | 20 | 42 |
Average recorded investment, with an allowance recorded | 335 | 877 |
Interest income recognized, with an allowance recorded | 4 | 11 |
Cash basis interest income recognized, with an allowance recorded | ||
Unpaid principal balance, total | 4,453 | 4,356 |
Recorded investment, total | 2,144 | 2,170 |
Average recorded investment, total | 2,157 | 2,873 |
Interest income recognized, total | 26 | 41 |
Cash basis interest income recognized | 14 | 30 |
Commercial Portfolio Segment [Member] | ||
Unpaid principal balance, with no related allowance recorded | 265 | 138 |
Recorded investment, with no related allowance recorded | 158 | 50 |
Average recorded investment, with no related allowance recorded | 104 | 52 |
Interest income recognized, with no related allowance recorded | ||
Cash basis interest income recognized, with no related allowance recorded | ||
Unpaid principal balance, with an allowance recorded | 24 | |
Recorded investment, with an allowance recorded | 24 | |
Allowance for loan losses allocated, with an allowance recorded | 3 | |
Average recorded investment, with an allowance recorded | 12 | |
Interest income recognized, with an allowance recorded | ||
Cash basis interest income recognized, with an allowance recorded | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Unpaid principal balance, with no related allowance recorded | ||
Recorded investment, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Cash basis interest income recognized, with no related allowance recorded | ||
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Recorded investment, with an allowance recorded | 0 | 0 |
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 |
Average recorded investment, with an allowance recorded | 0 | 0 |
Interest income recognized, with an allowance recorded | 0 | 0 |
Cash basis interest income recognized, with an allowance recorded | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Unpaid principal balance, with no related allowance recorded | 414 | 380 |
Recorded investment, with no related allowance recorded | 299 | 293 |
Average recorded investment, with no related allowance recorded | 296 | 98 |
Interest income recognized, with no related allowance recorded | 10 | 5 |
Cash basis interest income recognized, with no related allowance recorded | 10 | 5 |
Unpaid principal balance, with an allowance recorded | 143 | 282 |
Recorded investment, with an allowance recorded | 143 | 282 |
Allowance for loan losses allocated, with an allowance recorded | 19 | 37 |
Average recorded investment, with an allowance recorded | 212 | 158 |
Interest income recognized, with an allowance recorded | 2 | 0 |
Cash basis interest income recognized, with an allowance recorded | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Unpaid principal balance, with no related allowance recorded | 1,043 | 1,057 |
Recorded investment, with no related allowance recorded | 480 | 489 |
Average recorded investment, with no related allowance recorded | 485 | 256 |
Interest income recognized, with no related allowance recorded | 8 | 3 |
Cash basis interest income recognized, with no related allowance recorded | 3 | |
Unpaid principal balance, with an allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Allowance for loan losses allocated, with an allowance recorded | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Cash basis interest income recognized, with an allowance recorded | ||
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Unpaid principal balance, with no related allowance recorded | ||
Recorded investment, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Cash basis interest income recognized, with no related allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Allowance for loan losses allocated, with an allowance recorded | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Cash basis interest income recognized, with an allowance recorded | ||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Unpaid principal balance, with no related allowance recorded | 1,862 | 1,679 |
Recorded investment, with no related allowance recorded | 846 | 745 |
Average recorded investment, with no related allowance recorded | 795 | 1,544 |
Interest income recognized, with no related allowance recorded | 3 | 22 |
Cash basis interest income recognized, with no related allowance recorded | 3 | 22 |
Unpaid principal balance, with an allowance recorded | 75 | 183 |
Recorded investment, with an allowance recorded | 75 | 147 |
Allowance for loan losses allocated, with an allowance recorded | 1 | 2 |
Average recorded investment, with an allowance recorded | 111 | 719 |
Interest income recognized, with an allowance recorded | 2 | 11 |
Cash basis interest income recognized, with an allowance recorded | ||
Consumer Portfolio Segment [Member] | ||
Unpaid principal balance, with no related allowance recorded | 354 | 309 |
Recorded investment, with no related allowance recorded | 143 | 98 |
Average recorded investment, with no related allowance recorded | 121 | 14 |
Interest income recognized, with no related allowance recorded | 1 | |
Cash basis interest income recognized, with no related allowance recorded | 1 | |
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Recorded investment, with an allowance recorded | 0 | 0 |
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 |
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | 0 | 0 |
Cash basis interest income recognized, with an allowance recorded | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Unpaid principal balance, with no related allowance recorded | 297 | 304 |
Recorded investment, with no related allowance recorded | 42 | |
Average recorded investment, with no related allowance recorded | 21 | 32 |
Interest income recognized, with no related allowance recorded | ||
Cash basis interest income recognized, with no related allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Allowance for loan losses allocated, with an allowance recorded | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | 0 | 0 |
Cash basis interest income recognized, with an allowance recorded | ||
Other Portfolio Segment [Member] | ||
Unpaid principal balance, with no related allowance recorded | 0 | 0 |
Recorded investment, with no related allowance recorded | 0 | 0 |
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Cash basis interest income recognized, with no related allowance recorded | ||
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Recorded investment, with an allowance recorded | 0 | 0 |
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 |
Average recorded investment, with an allowance recorded | 0 | 0 |
Interest income recognized, with an allowance recorded | 0 | 0 |
Cash basis interest income recognized, with an allowance recorded | $ 0 | $ 0 |
Note 3 - Loans - Types of Troub
Note 3 - Loans - Types of Troubled Debt Restructuring Loan Modification by Portfolio Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Troubled debt restructuring | $ 466 | $ 475 |
Performing Financial Instruments [Member] | ||
Troubled debt restructuring | 466 | 475 |
Nonperforming Financial Instruments [Member] | ||
Troubled debt restructuring | ||
Commercial Real Estate Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructuring | 391 | 400 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Troubled debt restructuring | 391 | 400 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructuring | ||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Troubled debt restructuring | 75 | 75 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructuring | 75 | 75 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructuring |
Note 3 - Loans - Recorded Inves
Note 3 - Loans - Recorded Investment in Nonaccrual and Loans Past Due 90 Days and Still on Accrual by Class of Loan (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Nonaccrual | $ 1,500 | $ 1,528 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual | 158 | 50 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Nonaccrual | 298 | 431 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Nonaccrual | 89 | 90 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Nonaccrual | 812 | 817 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual | 143 | 98 |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Nonaccrual | 42 | |
Loans Past Due 90 Days and Over Still Accruing | 0 | 0 |
Other Portfolio Segment [Member] | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days and Over Still Accruing | $ 0 | $ 0 |
Note 3 - Loans - Aging of Recor
Note 3 - Loans - Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Nonaccrual | $ 1,500 | $ 1,528 |
Total past due and nonaccrual | 2,906 | 3,945 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 1,158 | 1,747 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 248 | 670 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual | 158 | 50 |
Total past due and nonaccrual | 159 | 67 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 14 | |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 1 | 3 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Nonaccrual | 0 | 0 |
Total past due and nonaccrual | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Nonaccrual | 298 | 431 |
Total past due and nonaccrual | 379 | 705 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Nonaccrual | 89 | 90 |
Total past due and nonaccrual | 149 | 296 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Farmland Loans [Member] | ||
Past due | 81 | 274 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 19 | 206 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Farmland Loans [Member] | ||
Past due | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 41 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Farmland Loans [Member] | ||
Past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Nonfarm Nonresidential [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Nonaccrual | 0 | 0 |
Total past due and nonaccrual | 0 | 0 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Nonaccrual | 812 | 817 |
Total past due and nonaccrual | 1,920 | 2,482 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Multifamily Loans [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | ||
Past due | 961 | 1,162 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Multifamily Loans [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | ||
Past due | 147 | 503 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Multifamily Loans [Member] | ||
Past due | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | ||
Past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual | 143 | 98 |
Total past due and nonaccrual | 296 | 353 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 97 | 91 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 56 | 164 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Nonaccrual | 42 | |
Total past due and nonaccrual | 3 | 42 |
Agriculture Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | |
Agriculture Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 3 | 0 |
Agriculture Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | 0 | 0 |
Other Portfolio Segment [Member] | ||
Nonaccrual | 0 | 0 |
Total past due and nonaccrual | 0 | 0 |
Other Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due | 0 | 0 |
Other Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due | 0 | 0 |
Other Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due | $ 0 | $ 0 |
Note 3 - Loans - Risk Category
Note 3 - Loans - Risk Category of Loans by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Gross loans | $ 961,561 | $ 926,271 |
Pass [Member] | ||
Gross loans | 915,985 | 888,707 |
Watch [Member] | ||
Gross loans | 38,464 | 27,522 |
Special Mention [Member] | ||
Gross loans | 0 | |
Substandard [Member] | ||
Gross loans | 7,112 | 10,042 |
Doubtful [Member] | ||
Gross loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Gross loans | 169,176 | 145,551 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 146,310 | 130,312 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 20,903 | 11,280 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 1,963 | 3,959 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 413,653 | 399,488 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 71,267 | 64,911 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Gross loans | 80,579 | 79,118 |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 261,807 | 255,459 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Gross loans | 71,267 | 64,911 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Farmland Loans [Member] | ||
Gross loans | 73,202 | 71,503 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 252,982 | 245,995 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Construction Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Farmland Loans [Member] | ||
Gross loans | 6,568 | 6,663 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 7,152 | 6,986 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Farmland Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Farmland Loans [Member] | ||
Gross loans | 809 | 952 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 1,673 | 2,478 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Farmland Loans [Member] | ||
Gross loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Nonfarm Nonresidential [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Gross loans | 296,226 | 297,579 |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | ||
Gross loans | 75,525 | 70,950 |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 220,701 | 226,629 |
Residential Portfolio Segment [Member] | Pass [Member] | Multifamily Loans [Member] | ||
Gross loans | 75,525 | 70,950 |
Residential Portfolio Segment [Member] | Pass [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 214,559 | 221,727 |
Residential Portfolio Segment [Member] | Watch [Member] | Multifamily Loans [Member] | ||
Gross loans | 0 | |
Residential Portfolio Segment [Member] | Watch [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 3,683 | 2,420 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Multifamily Loans [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | Special Mention [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 0 | |
Residential Portfolio Segment [Member] | Substandard [Member] | Multifamily Loans [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | Substandard [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 2,459 | 2,482 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Multifamily Loans [Member] | ||
Gross loans | 0 | 0 |
Residential Portfolio Segment [Member] | Doubtful [Member] | One- to Four-family Residential Properties [Member] | ||
Gross loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Gross loans | 44,814 | 47,790 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 44,640 | 47,657 |
Consumer Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 3 | 5 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 171 | 128 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Agriculture Portfolio Segment [Member] | ||
Gross loans | 36,977 | 35,064 |
Agriculture Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 36,785 | 34,853 |
Agriculture Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 155 | 168 |
Agriculture Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Agriculture Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 37 | 43 |
Agriculture Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | ||
Gross loans | 715 | 799 |
Other Portfolio Segment [Member] | Pass [Member] | ||
Gross loans | 715 | 799 |
Other Portfolio Segment [Member] | Watch [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | Special Mention [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | Substandard [Member] | ||
Gross loans | 0 | 0 |
Other Portfolio Segment [Member] | Doubtful [Member] | ||
Gross loans | $ 0 | $ 0 |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 22 years | |
Operating Lease, Weighted Average Discount Rate, Percent | 5.47% | |
Operating Leases, Rent Expense, Net, Total | $ 120,000 | $ 65,000 |
Other Liabilities [Member] | ||
Operating Lease, Liability, Total | 2,883,000 | 445,000 |
Premises and Equipment [Member] | ||
Operating Lease, Right-of-Use Asset | $ 2,900,000 | $ 445,000 |
Note 4 - Leases - Future Minimu
Note 4 - Leases - Future Minimum Lease Payments (Details) - USD ($) | Mar. 31, 2020 | Mar. 31, 2019 |
2020 | $ 383,000 | |
2021 | 260,000 | |
2022 | 242,000 | |
2023 | 246,000 | |
2024 | 246,000 | |
Thereafter | 3,720,000 | |
Total minimum lease payments | 5,097,000 | |
Discount effect of cash flows | (2,214,000) | |
Other Liabilities [Member] | ||
Operating Lease, Liability, Total | $ 2,883,000 | $ 445,000 |
Note 5 - Other Real Estate Ow_3
Note 5 - Other Real Estate Owned (Details Textual) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
One- to Four-family Residential Properties [Member] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 156,000 | $ 172,000 |
Note 5 - Other Real Estate Ow_4
Note 5 - Other Real Estate Owned - Major Categories of OREO (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Other real estate owned, gross | $ 3,225 | $ 3,225 |
Commercial Real Estate Portfolio Segment [Member] | Construction, Land Development, and Other Land Loans [Member] | ||
Other real estate owned, gross | $ 3,225 | $ 3,225 |
Note 5 - Other Real Estate Ow_5
Note 5 - Other Real Estate Owned - Activity Relating to Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
OREO | $ 3,225 | $ 3,485 |
Real estate acquired | ||
Valuation adjustment write-downs | (150) | |
Net loss (gain) on sales | ||
Proceeds from sales of properties | ||
OREO | $ 3,225 | $ 3,335 |
Note 5 - Other Real Estate Ow_6
Note 5 - Other Real Estate Owned - Expenses Related to Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net loss (gain) on sales | ||
Valuation adjustment write-downs | 150 | |
Operating expense | 16 | 16 |
Total | $ 16 | $ 166 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | Nov. 15, 2019 | |
Goodwill, Ending Balance | $ 6,252,000 | $ 6,252,000 | |
Goodwill, Impairment Loss | 0 | $ 0 | |
Amortization of Intangible Assets, Total | $ 64,000 | ||
Branch Acquisition from Republic Bank and Trust [Member] | |||
Goodwill, Ending Balance | $ 6,300,000 |
Note 6 - Goodwill and Intangi_4
Note 6 - Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Goodwill, Gross | $ 6,252 | $ 6,252 |
Accumulated Amortization | 64 | |
Total, Gross | 8,752 | 8,752 |
Core Deposits [Member] | ||
Core deposit intangibles, Gross | 2,500 | 2,500 |
Accumulated Amortization | $ 64 |
Note 6 - Goodwill and Intangi_5
Note 6 - Goodwill and Intangible Assets - Expected Amortization Expense (Details) - Core Deposits [Member] $ in Thousands | Mar. 31, 2020USD ($) |
April 2020 – December 2020 | $ 192 |
2021 | 256 |
2022 | 256 |
2023 | 256 |
2024 | 256 |
Thereafter | 1,220 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 2,436 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Time Deposits, at or Above FDIC Insurance Limit | $ 64.9 | $ 51.2 |
Note 7 - Deposits - Deposit Bal
Note 7 - Deposits - Deposit Balances by Category (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Non-interest bearing | $ 185,658 | $ 187,551 |
Interest checking | 157,621 | 146,038 |
Money market | 154,851 | 160,837 |
Savings | 92,235 | 56,015 |
Certificates of deposit | 467,535 | 476,534 |
Total | $ 1,057,900 | $ 1,026,975 |
Note 7 - Deposits - Maturities
Note 7 - Deposits - Maturities of Time Deposits (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Year 1 | $ 383,049 |
Year 2 | 47,132 |
Year 3 | 10,719 |
Year 4 | 15,232 |
Year 5 | 10,854 |
Thereafter | 549 |
Time Deposits, Total | $ 467,535 |
Note 8 - Advances from the Fe_3
Note 8 - Advances from the Federal Home Loan Bank (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate | 0.39% | 1.70% |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Repayment and Penalties | $ 0 | $ 0 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 158,500 | $ 166,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 53,600 |
Note 8 - Advances from the Fe_4
Note 8 - Advances from the Federal Home Loan Bank - Advances From the Federal Home Loan Bank (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Short term advances (fixed rates 0.13% to 0.22%) maturing April 2020 | $ 40,000 | $ 60,000 |
Long term advances (fixed rates 0.00% to 5.24%) maturing April 2020 to August 2033 | 21,349 | 1,389 |
Total advances from the Federal Home Loan Bank | $ 61,349 | $ 61,389 |
Note 8 - Advances from the Fe_5
Note 8 - Advances from the Federal Home Loan Bank - Advances From the Federal Home Loan Bank (Details) (Parentheticals) | Mar. 31, 2020 | Dec. 31, 2019 |
Minimum [Member] | ||
Short-term advances from the FHLB, fixed rate | 0.13% | 0.13% |
Long term advances from the FHLB, fixed rate | 0.00% | 0.00% |
Maximum [Member] | ||
Short-term advances from the FHLB, fixed rate | 0.22% | 0.22% |
Long term advances from the FHLB, fixed rate | 5.24% | 5.24% |
Note 8 - Advances from the Fe_6
Note 8 - Advances from the Federal Home Loan Bank - Principal Payments on Advances From the Federal Home Loan Bank (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Year 1 | $ 41,090 | |
Year 2 | 98 | |
Year 3 | 99 | |
Year 4 | 42 | |
Year 5 | 16 | |
Thereafter | 20,004 | |
Advances from Federal Home Loan Banks, Total | $ 61,349 | $ 61,389 |
Note 9 - Borrowings (Details Te
Note 9 - Borrowings (Details Textual) - USD ($) | Jul. 23, 2019 | Mar. 31, 2020 | Jun. 30, 2022 | Jul. 31, 2029 |
Senior Notes [Member] | ||||
Early Repayment of Senior Debt | $ 5,000,000 | |||
Debt Instrument, Periodic Payment, Principal | $ 250,000 | |||
First Priority Pledge, Percent of Issued and Outstanding Stock | 100.00% | |||
Senior Notes [Member] | Subsidiaries [Member] | ||||
Debt Instrument, Financial Covenants, Non-performing Assets to Total Assets, Percentage, Minimum | 2.50% | |||
Forecast [Member] | Senior Notes [Member] | ||||
Debt Instrument, Financial Convenants, Minimum Cash on Hand | $ 2,500,000 | |||
Debt Instrument, Financial Convenants, Minimum Risk Based Capital to Risk Weighted Assets | 10.00% | |||
Forecast [Member] | Senior Notes [Member] | Subsidiaries [Member] | ||||
Debt Instrument, Financial Convenants, Minimum Risk Based Capital to Risk Weighted Assets | 11.00% | |||
London Interbank Offered Rate (LIBOR) [Member] | Senior Notes [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||
Ten Year Subordinated Debt Note, Issued July 23, 2019 [Member] | ||||
Proceeds from Issuance of Subordinated Long-term Debt | $ 17,000,000 | |||
Debt Instrument, Fixed Rate for First Five Years | 5.75% | |||
Ten Year Subordinated Debt Note, Issued July 23, 2019 [Member] | London Interbank Offered Rate (LIBOR) [Member] | Forecast [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.95% |
Note 10 - Fair Values Measure_3
Note 10 - Fair Values Measurement (Details Textual) | 3 Months Ended | ||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 218,000 | $ 453,000 | |
Impaired Financing Receivable, Related Allowance | 20,000 | 42,000 | |
Impaired Loans [Member] | |||
Impaired Financing Receivable, Related Allowance | 20,000 | $ 193,000 | 42,000 |
Impaired Financing Receivable Provision for Loan Losses | 0 | 0 | |
Measured for Impairment Using Fair Value of Collateral [Member] | Impaired Loans [Member] | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 218,000 | $ 873,000 | $ 453,000 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | |||
Impaired Loans, Measurement Input | 0.1 | ||
Measurement Input, Discount Rate [Member] | Maximum [Member] | |||
Impaired Loans, Measurement Input | 0.33 | ||
Measurement Input, Estimated Discount for Cost to Sell [Member] | Minimum [Member] | |||
Impaired Loans, Measurement Input | 0.06 | ||
Measurement Input, Estimated Discount for Cost to Sell [Member] | Maximum [Member] | |||
Impaired Loans, Measurement Input | 0.1 | ||
Routine Real Estate Collateral [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired Loans, Measurement Input | 0.1 | ||
Thin Trading Market or Specialized Collateral [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired Loans, Measurement Input | 0.25 |
Note 10 - Fair Values Measure_4
Note 10 - Fair Values Measurement - Financial Assets Measured at the Fair Value on Recurring and Non-recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available for sale | $ 198,657 | $ 209,000 |
Recorded investment, total | 2,144 | 2,170 |
Fair Value, Recurring [Member] | ||
Securities available for sale | 198,657 | 209,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 198,657 | 209,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
US Treasury and Government [Member] | ||
Securities available for sale | 21,104 | 22,330 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 21,104 | 22,330 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 21,104 | 22,330 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | ||
Recorded investment, total | 21 | |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Recorded investment, total | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Recorded investment, total | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Recorded investment, total | 21 | |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | ||
Recorded investment, total | 124 | 245 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Farmland Loans [Member] | ||
Recorded investment, total | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Farmland Loans [Member] | ||
Recorded investment, total | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Farmland Loans [Member] | ||
Recorded investment, total | 124 | 245 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | 74 | 145 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | ||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | 74 | 145 |
Residential Mortgage Backed Securities [Member] | ||
Securities available for sale | 89,101 | 92,200 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 89,101 | 92,200 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 89,101 | 92,200 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Collateralized Debt Obligations [Member] | ||
Securities available for sale | 40,754 | 49,419 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 40,754 | 49,419 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 40,754 | 49,419 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 28,154 | 28,366 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 28,154 | 28,366 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 28,154 | 28,366 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | ||
Securities available for sale | 19,544 | 16,685 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 19,544 | 16,685 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 19,544 | 16,685 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale |
Note 10 - Fair Values Measure_5
Note 10 - Fair Values Measurement - Carrying Amount and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities available for sale | $ 198,657 | $ 209,000 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 33,148 | 30,203 |
Securities available for sale | 198,657 | 209,000 |
Federal Home Loan Bank stock | 6,837 | 6,237 |
Loans, net | 952,411 | 917,895 |
Accrued interest receivable | 4,219 | 4,257 |
Deposits | 1,057,900 | 1,026,975 |
Federal Home Loan Bank advances | 61,349 | 61,389 |
Junior subordinated debentures | 21,000 | 21,000 |
Subordinated capital note | 17,000 | 17,000 |
Senior Debt | 5,000 | 5,000 |
Accrued interest payable | 715 | 1,129 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 33,148 | 30,203 |
Securities available for sale | 198,657 | 209,000 |
Federal Home Loan Bank stock | ||
Loans, net | 903,898 | 925,388 |
Accrued interest receivable | 4,219 | 4,257 |
Deposits | 1,060,005 | 1,027,433 |
Federal Home Loan Bank advances | 61,357 | 61,395 |
Junior subordinated debentures | 14,153 | 17,466 |
Subordinated capital note | 16,095 | 17,003 |
Senior Debt | 4,900 | 5,022 |
Accrued interest payable | 715 | 1,129 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 33,148 | 30,203 |
Securities available for sale | ||
Federal Home Loan Bank stock | ||
Loans, net | ||
Accrued interest receivable | ||
Deposits | 185,658 | 187,551 |
Federal Home Loan Bank advances | ||
Junior subordinated debentures | ||
Subordinated capital note | ||
Senior Debt | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Securities available for sale | 198,657 | 209,000 |
Federal Home Loan Bank stock | ||
Loans, net | ||
Accrued interest receivable | 993 | 1,118 |
Deposits | 874,347 | 839,882 |
Federal Home Loan Bank advances | 61,357 | 61,395 |
Junior subordinated debentures | ||
Subordinated capital note | ||
Senior Debt | ||
Accrued interest payable | 509 | 647 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Securities available for sale | ||
Federal Home Loan Bank stock | ||
Loans, net | 903,898 | 925,388 |
Accrued interest receivable | 3,226 | 3,139 |
Deposits | ||
Federal Home Loan Bank advances | ||
Junior subordinated debentures | 14,153 | 17,466 |
Subordinated capital note | 16,095 | 17,003 |
Senior Debt | 4,900 | 5,022 |
Accrued interest payable | $ 206 | $ 482 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Jul. 10, 2015 | |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 173,000 | |||
Unrecognized Tax Benefits, Ending Balance | 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 | ||
Common Stock Ownership Percentage by Individual | 5.00% | |||
Common Stock Ownership Percentage | 50.00% | |||
Dividend Declared Preferred Stock Purchase Right Per Each Share of Common Stock (in shares) | 1 | |||
Domestic Tax Authority [Member] | ||||
Operating Loss Carryforwards, Total | $ 100,500,000 | |||
Domestic Tax Authority [Member] | Other Assets [Member] | ||||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | 173,000 | |||
State and Local Jurisdiction [Member] | ||||
Operating Loss Carryforwards, Total | $ 32,700,000 |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets: | ||
Net operating loss carry-forward | $ 22,403 | $ 22,915 |
Allowance for loan losses | 2,283 | 2,090 |
OREO write-down | 2,665 | 2,665 |
Alternative minimum tax credit carry-forward | 173 | |
Net assets from acquisitions | 188 | 228 |
Net unrealized loss on securities | 646 | |
New market tax credit carry-forward | 208 | 208 |
Nonaccrual loan interest | 310 | 303 |
Accrued expenses | 99 | 102 |
Lease liability | 719 | 766 |
Other | 295 | 309 |
Deferred Tax Assets, Gross, Total | 29,816 | 29,759 |
Deferred tax liabilities: | ||
FHLB stock dividends | 563 | 563 |
Fixed assets | 49 | 57 |
Deferred loan costs | 170 | 170 |
Net unrealized gain on securities | 331 | |
Lease right-of-use assets | 719 | 766 |
Other | 107 | 107 |
Deferred Tax Liabilities, Gross, Total | 1,608 | 1,994 |
Net deferred tax asset | $ 28,208 | $ 27,765 |
Note 12 - Stock Plans and Sto_3
Note 12 - Stock Plans and Stock Based Compensation (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Nonvested Intrinsic Value1 | $ 349,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 17.03 | ||
Share-based Payment Arrangement, Expense | $ 106,000 | $ 82,000 | |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 22,000 | $ 17,000 | |
2018 Omnibus Equity Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 273,329 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 17.03 | $ 14.81 | |
Non-Employee Directors Stock Incentive Plan 2006 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Annual Award to Non Employee Directors, Value | $ 25,000 |
Note 12 - Stock Plans and Sto_4
Note 12 - Stock Plans and Stock Based Compensation - Unvested Share Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Granted, weighted average grant price (in dollars per share) | $ 17.03 | |
2018 Omnibus Equity Compensation Plan [Member] | ||
Outstanding, beginning (in shares) | 57,774 | 116,909 |
Outstanding, weighted average grant price (in dollars per share) | $ 13.35 | $ 8.69 |
Granted (in shares) | 20,507 | 34,501 |
Granted, weighted average grant price (in dollars per share) | $ 17.03 | $ 14.81 |
Vested (in shares) | (13,329) | (89,388) |
Vested, weighted average grant price (in dollars per share) | $ 11.85 | $ 7.83 |
Forfeited (in shares) | (4,248) | |
Forfeited, weighted average grant price (in dollars per share) | $ 13.07 | |
Outstanding, ending (in shares) | 64,952 | 57,774 |
Outstanding, weighted average grant price (in dollars per share) | $ 14.82 | $ 13.35 |
Note 12 - Stock Plans and Sto_5
Note 12 - Stock Plans and Stock Based Compensation - Unrecognized Stock Based Compensation Expense Related to Unvested Shares (Details) $ in Thousands | Mar. 31, 2020USD ($) |
April 2020 – December 2020 | $ 305 |
2021 | 311 |
2022 | 136 |
2023 | $ 14 |
Note 13 - Earnings per Share (D
Note 13 - Earnings per Share (Details Textual) - shares shares in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 | 0 |
Note 13 - Earnings per Share -
Note 13 - Earnings per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income | $ 1,840 | $ 2,839 |
Earnings allocated to unvested shares | 15 | 36 |
Net income available to common shareholders, basic and diluted | $ 1,825 | $ 2,803 |
Weighted average common shares including unvested common shares outstanding (in shares) | 7,481,884 | 7,469,912 |
Weighted average shares outstanding (in shares) | 7,420,521 | 7,375,003 |
Basic income per common share (in dollars per share) | $ 0.25 | $ 0.38 |
Add: Dilutive effects of assumed exercises of common stock warrants (in shares) | ||
Weighted average common shares and potential common shares (in shares) | 7,420,521 | 7,375,003 |
Diluted income per common share (in dollars per share) | $ 0.25 | $ 0.38 |
Unvested Shares [Member] | ||
Weighted average shares outstanding (in shares) | 61,363 | 94,909 |
Note 14 - Regulatory Capital _3
Note 14 - Regulatory Capital Matters (Details Textual) | Mar. 31, 2020 |
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 2.5 |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier One Risk-Based Capital, Actual | 7 |
Banking Regulation, Capital Conservation Buffer, Tier One Risk-Based Capital, Actual | 8.5 |
Banking Regulation, Capital Conservation Buffer, Tier One Risk-Based Capital, Actual | 10.5 |
Note 14 - Regulatory Capital _4
Note 14 - Regulatory Capital Matters - Ratios and Amounts of Common Equity, Capital, and Total Capital to Risk-adjusted Assets (Details) $ in Thousands | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Total risk-based capital to risk-weighted assets, actual amount | $ 129,035 | $ 121,335 |
Total risk-based capital to risk-weighted assets, actual ratio | 0.1238 | 0.1208 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 83,378 | $ 80,341 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 0.08 | 0.08 |
Total risk-based capital to risk-weighted assets, for minimum requirements to be well capitalized, amount | $ 104,223 | $ 100,426 |
Total risk-based capital to risk-weighted assets, for minimum requirements to be well capitalized, ratio | 0.1 | 0.1 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), actual amount | $ 119,885 | $ 112,959 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), actual ratio | 0.115 | 0.1125 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for capital adequacy purposes, amount | $ 46,900 | $ 45,192 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for capital adequacy purposes, ratio | 0.045 | 0.045 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for minimum requirements to be well capitalized, amount | $ 67,745 | $ 65,277 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for minimum requirements to be well capitalized, ratio | 0.065 | 0.065 |
Tier I capital to risk-weighted assets, actual amount | $ 119,885 | $ 112,959 |
Tier I capital to risk-weighted assets, actual ratio | 0.115 | 0.1125 |
Tier I capital to risk-weighted assets, for capital adequacy purposes, amount | $ 62,534 | $ 60,256 |
Tier I capital to risk-weighted assets, for capital adequacy purposes, ratio | 0.06 | 0.06 |
Tier I capital to risk-weighted assets, for minimum requirements to be well capitalized, amount | $ 83,378 | $ 80,341 |
Tier I capital to risk-weighted assets, for minimum requirements to be well capitalized, ratio | 0.08 | 0.08 |
Tier 1 capital (to average assets), actual amount | $ 119,885 | $ 112,959 |
Tier 1 capital (to average assets), actual ratio | 0.0967 | 0.0999 |
Tier 1 capital (to average assets), for capital adequacy purposes, amount | $ 49,607 | $ 45,208 |
Tier 1 capital (to average assets), for capital adequacy purposes, ratio | 0.04 | 0.04 |
Tier 1 capital (to average assets), for minimum requirements to be well capitalized, amount | $ 62,008 | $ 56,510 |
Tier 1 capital (to average assets), for minimum requirements to be well capitalized, ratio | 0.05 | 0.05 |
Note 15 - Off Balance Sheet R_3
Note 15 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Commitments Period (Year) | 1 year | |
Risk Participation Agreement [Member] | ||
Derivative, Notional Amount | $ 26,600 | $ 26,600 |
Standby Letters of Credit [Member] | ||
Long-term Line of Credit, Total | $ 0 |
Note 15 - Off Balance Sheet R_4
Note 15 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities - Contractual Amounts of Financial Instruments With Off Balance Sheet Risk (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fixed Rate [Member] | Commitments to Make Loans [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | $ 12,403 | $ 11,577 |
Fixed Rate [Member] | Unused lines of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 8,684 | 7,916 |
Fixed Rate [Member] | Standby Letters of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 531 | 531 |
Variable Rate [Member] | Commitments to Make Loans [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 26,290 | 20,415 |
Variable Rate [Member] | Unused lines of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 96,982 | 111,230 |
Variable Rate [Member] | Standby Letters of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | $ 1,336 | $ 3,164 |
Note 16 - Revenue from Contra_2
Note 16 - Revenue from Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 156,000 | $ 136,000 |