Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 28, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001358356 | |
Entity Registrant Name | LIMESTONE BANCORP, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-33033 | |
Entity Incorporation, State or Country Code | KY | |
Entity Tax Identification Number | 61-1142247 | |
Entity Address, Address Line One | 2500 Eastpoint Parkway | |
Entity Address, City or Town | Louisville | |
Entity Address, State or Province | KY | |
Entity Address, Postal Zip Code | 40223 | |
City Area Code | 502 | |
Local Phone Number | 499-4800 | |
Title of 12(b) Security | Common shares | |
Trading Symbol | LMST | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Nonvoting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,000,000 | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 6,638,883 |
Unaudited Consolidated Balance
Unaudited Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 6,430,000 | $ 10,493,000 |
Interest bearing deposits in banks | 50,940,000 | 67,110,000 |
Cash and cash equivalents | 57,370,000 | 77,603,000 |
Securities available for sale | 181,292,000 | 214,213,000 |
Securities held to maturity (fair value of $33,768 and $46,280, respectively) | 43,350,000 | 46,460,000 |
Loans, net of allowance of $13,031 and $11,531, respectively | 1,114,914,000 | 990,309,000 |
Premises and equipment, net | 22,503,000 | 21,575,000 |
Premises held for sale | 0 | 310,000 |
Federal Home Loan Bank stock | 5,176,000 | 5,116,000 |
Bank owned life insurance | 31,032,000 | 23,946,000 |
Deferred taxes, net | 23,002,000 | 21,583,000 |
Goodwill | 6,252,000 | 6,252,000 |
Other intangible assets, net | 1,797,000 | 1,989,000 |
Accrued interest receivable and other assets | 7,007,000 | 6,336,000 |
Total assets | 1,493,695,000 | 1,415,692,000 |
Deposits | ||
Non-interest bearing | 287,938,000 | 274,083,000 |
Interest bearing | 930,642,000 | 934,585,000 |
Total deposits | 1,218,580,000 | 1,208,668,000 |
Federal Home Loan Bank advances | 90,000,000 | 20,000,000 |
Accrued interest payable and other liabilities | 10,744,000 | 10,065,000 |
Junior subordinated debentures | 21,000,000 | 21,000,000 |
Subordinated capital notes | 25,000,000 | 25,000,000 |
Total liabilities | 1,365,324,000 | 1,284,733,000 |
Commitments and contingent liabilities (Note 13) | 0 | 0 |
Stockholders’ equity | ||
Common stock, no par, 39,000,000 shares authorized, 6,639,033 and 6,594,749 voting, and 1,000,000 and 1,000,000 non-voting issued and outstanding, respectively | 140,639,000 | 140,639,000 |
Additional paid-in capital | 26,101,000 | 25,625,000 |
Retained deficit | (19,486,000) | (31,769,000) |
Accumulated other comprehensive loss | (18,883,000) | (3,536,000) |
Total stockholders' equity | 128,371,000 | 130,959,000 |
Total liabilities and stockholders’ equity | $ 1,493,695,000 | $ 1,415,692,000 |
Unaudited Consolidated Balanc_2
Unaudited Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Securities held to maturity, fair value | $ 33,768 | $ 46,280 |
Loans, allowance | $ 13,031 | $ 11,531 |
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) | 6,639,033 | 6,594,749 |
Common stock, shares outstanding (in shares) | 6,639,033 | 6,594,749 |
Nonvoting Common Stock [Member] | ||
Common stock, shares issued (in shares) | 1,000,000 | 1,000,000 |
Common stock, shares outstanding (in shares) | 1,000,000 | 1,000,000 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Interest income | ||||
Loans, including fees | $ 13,179 | $ 11,565 | $ 35,537 | $ 33,573 |
Taxable securities | 1,592 | 1,183 | 4,338 | 3,402 |
Tax exempt securities | 166 | 168 | 495 | 476 |
Interest-bearing deposits and other | 184 | 59 | 300 | 150 |
Interest and Dividend Income, Operating, Total | 15,121 | 12,975 | 40,670 | 37,601 |
Interest expense | ||||
Deposits | 1,242 | 812 | 2,790 | 2,755 |
Federal Home Loan Bank advances | 354 | 39 | 502 | 115 |
Junior subordinated debentures | 239 | 128 | 546 | 390 |
Subordinated capital notes | 374 | 375 | 1,126 | 1,126 |
Interest Expense, Total | 2,209 | 1,354 | 4,964 | 4,386 |
Net interest income | 12,912 | 11,621 | 35,706 | 33,215 |
Provision (negative provision) for loan losses | (1,250) | 300 | (50) | 650 |
Net interest income after provision for loan losses | 14,162 | 11,321 | 35,756 | 32,565 |
Non-interest income | ||||
Income from bank owned life insurance | 148 | 112 | 599 | 420 |
Gain on sale of other real estate owned | 0 | 0 | 0 | 191 |
Gain (loss) on sales and calls of securities, net | 0 | 465 | (3) | 460 |
Gain on sale of premises held for sale | 0 | 0 | 163 | 0 |
Other | 271 | 232 | 740 | 656 |
Noninterest Income, Total | 2,228 | 2,436 | 6,722 | 6,455 |
Non-interest expense | ||||
Salaries and employee benefits | 4,959 | 4,582 | 14,174 | 13,531 |
Occupancy and equipment | 1,134 | 1,024 | 3,218 | 3,063 |
Deposit account related expense | 571 | 545 | 1,692 | 1,592 |
Data processing expense | 402 | 378 | 1,191 | 1,133 |
Professional fees | 206 | 219 | 663 | 701 |
Marketing expense | 159 | 200 | 464 | 561 |
FDIC Insurance | 90 | 90 | 270 | 315 |
Deposit tax | 99 | 90 | 297 | 270 |
Communications expense | 108 | 153 | 293 | 520 |
Insurance expense | 104 | 105 | 318 | 324 |
Postage and delivery | 156 | 169 | 469 | 460 |
Other | 709 | 495 | 1,846 | 1,518 |
Noninterest Expense, Total | 8,697 | 8,050 | 24,895 | 23,988 |
Income before income taxes | 7,693 | 5,707 | 17,583 | 15,032 |
Income tax expense | 1,880 | 1,366 | 4,155 | 3,568 |
Net income | $ 5,813 | $ 4,341 | $ 13,428 | $ 11,464 |
Basic and diluted income per common share (in dollars per share) | $ 0.76 | $ 0.57 | $ 1.76 | $ 1.51 |
Deposit Account [Member] | ||||
Non-interest income | ||||
Non-interest income revenue | $ 748 | $ 583 | $ 2,072 | $ 1,651 |
Debit Card [Member] | ||||
Non-interest income | ||||
Non-interest income revenue | $ 1,061 | $ 1,044 | $ 3,151 | $ 3,077 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income | $ 5,813 | $ 4,341 | $ 13,428 | $ 11,464 |
Other comprehensive income (loss): | ||||
Unrealized gain (loss) arising during the period | (5,126) | 756 | (20,245) | 1,718 |
Amortization during period of net unrealized gain transferred to held to maturity | (57) | (91) | (207) | (261) |
Less reclassification adjustment for gains (losses) included in net income | 0 | 465 | (3) | 460 |
Net unrealized gain (loss) recognized in comprehensive income (loss) | (5,183) | 200 | (20,449) | 997 |
Tax effect | 1,293 | (50) | 5,102 | (249) |
Other comprehensive income (loss) | (3,890) | 150 | (15,347) | 748 |
Comprehensive income (loss) | $ 1,923 | $ 4,491 | $ (1,919) | $ 12,212 |
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, 2020 | 6,498,865 | 1,000,000 | 7,498,865 | ||||
Balances at Dec. 31, 2020 | $ 140,639 | $ 25,013 | $ (46,678) | $ (2,950) | $ 116,024 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting (in shares) | 95,634 | 0 | 95,634 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting | $ 0 | (48) | 0 | 0 | (48) | ||
Forfeited unvested stock (in shares) | 0 | 0 | 0 | ||||
Forfeited unvested stock | $ 0 | 0 | 0 | 0 | 0 | ||
Stock-based compensation expense | 0 | 149 | 0 | 0 | 149 | ||
Net income | 0 | 0 | 3,222 | 0 | 3,222 | ||
Net change in accumulated other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 173 | 173 | ||
Balances (in shares) at Mar. 31, 2021 | 6,594,499 | 1,000,000 | 7,594,499 | ||||
Balances at Mar. 31, 2021 | $ 140,639 | 25,114 | (43,456) | (2,777) | 119,520 | ||
Balances (in shares) at Dec. 31, 2020 | 6,498,865 | 1,000,000 | 7,498,865 | ||||
Balances at Dec. 31, 2020 | $ 140,639 | 25,013 | (46,678) | (2,950) | 116,024 | ||
Net income | 11,464 | ||||||
Net change in accumulated other comprehensive income (loss), net of taxes | 748 | ||||||
Balances (in shares) at Sep. 30, 2021 | 6,602,686 | 1,000,000 | 7,602,686 | ||||
Balances at Sep. 30, 2021 | $ 140,639 | 25,441 | (35,214) | (2,202) | 128,664 | ||
Balances (in shares) at Mar. 31, 2021 | 6,594,499 | 1,000,000 | 7,594,499 | ||||
Balances at Mar. 31, 2021 | $ 140,639 | 25,114 | (43,456) | (2,777) | 119,520 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting (in shares) | 8,586 | 0 | 8,586 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting | $ 0 | (39) | 0 | 0 | (39) | ||
Forfeited unvested stock (in shares) | (399) | 0 | (399) | ||||
Forfeited unvested stock | $ 0 | 0 | 0 | 0 | 0 | ||
Stock-based compensation expense | 0 | 152 | 0 | 0 | 152 | ||
Net income | 0 | 0 | 3,901 | 0 | 3,901 | ||
Net change in accumulated other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 425 | 425 | ||
Balances (in shares) at Jun. 30, 2021 | 6,602,686 | 1,000,000 | 7,602,686 | ||||
Balances at Jun. 30, 2021 | $ 140,639 | 25,227 | (39,555) | (2,352) | 123,959 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting | $ 0 | 0 | 0 | 0 | 0 | ||
Forfeited unvested stock (in shares) | 0 | 0 | 0 | ||||
Forfeited unvested stock | $ 0 | 0 | 0 | 0 | 0 | ||
Stock-based compensation expense | 0 | 214 | 0 | 0 | 214 | ||
Net income | 0 | 0 | 4,341 | 0 | 4,341 | ||
Net change in accumulated other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | 150 | 150 | ||
Balances (in shares) at Sep. 30, 2021 | 6,602,686 | 1,000,000 | 7,602,686 | ||||
Balances at Sep. 30, 2021 | $ 140,639 | 25,441 | (35,214) | (2,202) | 128,664 | ||
Balances (in shares) at Dec. 31, 2021 | 6,594,749 | 1,000,000 | 7,594,749 | ||||
Balances at Dec. 31, 2021 | $ 140,639 | 25,625 | (31,769) | (3,536) | 130,959 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting (in shares) | 27,722 | 0 | 27,722 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting | $ 0 | (197) | 0 | 0 | (197) | ||
Forfeited unvested stock (in shares) | (314) | 0 | (314) | ||||
Forfeited unvested stock | $ 0 | 0 | 0 | 0 | 0 | ||
Stock-based compensation expense | 0 | 305 | 0 | 0 | 305 | ||
Net income | 0 | 0 | 3,579 | 0 | 3,579 | ||
Dividends declared on common stock ($0.05 per share) | 0 | 0 | (381) | 0 | (381) | ||
Net change in accumulated other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | (6,045) | (6,045) | ||
Balances (in shares) at Mar. 31, 2022 | 6,622,157 | 1,000,000 | 7,622,157 | ||||
Balances at Mar. 31, 2022 | $ 140,639 | 25,733 | (28,571) | (9,581) | 128,220 | ||
Balances (in shares) at Dec. 31, 2021 | 6,594,749 | 1,000,000 | 7,594,749 | ||||
Balances at Dec. 31, 2021 | $ 140,639 | 25,625 | (31,769) | (3,536) | 130,959 | ||
Net income | 13,428 | ||||||
Net change in accumulated other comprehensive income (loss), net of taxes | (15,347) | ||||||
Balances (in shares) at Sep. 30, 2022 | 6,639,033 | 1,000,000 | 7,639,033 | ||||
Balances at Sep. 30, 2022 | $ 140,639 | 26,101 | (19,486) | (18,883) | 128,371 | ||
Balances (in shares) at Mar. 31, 2022 | 6,622,157 | 1,000,000 | 7,622,157 | ||||
Balances at Mar. 31, 2022 | $ 140,639 | 25,733 | (28,571) | (9,581) | 128,220 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting (in shares) | 26,671 | 0 | 26,671 | ||||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting | $ 0 | 0 | 0 | 0 | 0 | ||
Forfeited unvested stock (in shares) | (8,148) | 0 | (8,148) | ||||
Forfeited unvested stock | $ 0 | 0 | 0 | 0 | 0 | ||
Stock-based compensation expense | 0 | 156 | 0 | 0 | 156 | ||
Net income | 0 | 0 | 4,036 | 0 | 4,036 | ||
Dividends declared on common stock ($0.05 per share) | 0 | 0 | (382) | 0 | (382) | ||
Net change in accumulated other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | (5,412) | (5,412) | ||
Balances (in shares) at Jun. 30, 2022 | 6,640,680 | 1,000,000 | 7,640,680 | ||||
Balances at Jun. 30, 2022 | $ 140,639 | 25,889 | (24,917) | (14,993) | 126,618 | ||
Stock issued for share-based awards, net of withholdings to satisfy employee tax obligations upon vesting | $ 0 | 0 | 0 | 0 | 0 | ||
Forfeited unvested stock (in shares) | (1,647) | 0 | (1,647) | ||||
Forfeited unvested stock | $ 0 | 0 | 0 | 0 | 0 | ||
Stock-based compensation expense | 0 | 212 | 0 | 0 | 212 | ||
Net income | 0 | 0 | 5,813 | 0 | 5,813 | ||
Dividends declared on common stock ($0.05 per share) | 0 | 0 | (382) | 0 | (382) | ||
Net change in accumulated other comprehensive income (loss), net of taxes | $ 0 | 0 | 0 | (3,890) | (3,890) | ||
Balances (in shares) at Sep. 30, 2022 | 6,639,033 | 1,000,000 | 7,639,033 | ||||
Balances at Sep. 30, 2022 | $ 140,639 | $ 26,101 | $ (19,486) | $ (18,883) | $ 128,371 |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities | ||
Net income | $ 13,428 | $ 11,464 |
Adjustments to reconcile net income to net cash from operating activities | ||
Depreciation, amortization and accretion, net | 1,435 | 3,878 |
Provision (negative provision) for loan losses | (50) | 650 |
Net amortization on securities | 291 | 422 |
Stock-based compensation expense | 673 | 515 |
Deferred taxes, net | 3,682 | 3,304 |
Net realized (gain) loss on sales and calls of investment securities | 3 | (460) |
Net realized gain on sales of other real estate owned | 0 | (191) |
Net realized loss on sales of premises and equipment | 0 | 1 |
Net write-down on premises held for sale | 0 | 80 |
Net gain on sale of premises held for sale | (163) | 0 |
Increase in cash surrender value of life insurance, net of premium | (586) | (404) |
Amortization of operating lease right-of-use assets | 301 | 269 |
Net change in accrued interest receivable and other assets | (2,068) | (3,138) |
Net change in accrued interest payable and other liabilities | 679 | 145 |
Net cash from operating activities | 17,625 | 16,535 |
Cash flows from investing activities | ||
Purchases of available for sale securities | (9,924) | (68,827) |
Proceeds from sales and calls of available for sale securities | 0 | 6,500 |
Proceeds from maturities and prepayments of available for sale securities | 22,362 | 28,182 |
Purchases of held to maturity securities | (658) | (15,414) |
Proceeds from calls of held to maturity securities | 1,314 | 704 |
Proceeds from maturities and prepayments of held to maturity securities | 2,195 | 2,665 |
Purchases of Federal Home Loan Bank stock | (727) | 0 |
Proceeds from mandatory redemptions of Federal Home Loan Bank stock | 667 | 771 |
Proceeds from sale of other real estate owned | 0 | 1,956 |
Net change in loans | (124,958) | (8,998) |
Purchases of premises and equipment | (672) | (953) |
Proceeds from sale of premises held for sale | 473 | 0 |
Purchase of bank owned life insurance | (6,500) | 0 |
Net cash from investing activities | (116,428) | (53,414) |
Cash flows from financing activities | ||
Net change in deposits | 9,912 | 28,384 |
Repayment of Federal Home Loan Bank advances | (70,000) | (623) |
Advances from Federal Home Loan Bank | 140,000 | 0 |
Common shares withheld for taxes | (197) | (87) |
Cash dividends paid on common stock | (1,145) | 0 |
Net cash from financing activities | 78,570 | 27,674 |
Net change in cash and cash equivalents | (20,233) | (9,205) |
Beginning cash and cash equivalents | 77,603 | 67,693 |
Ending cash and cash equivalents | 57,370 | 58,488 |
Supplemental cash flow information: | ||
Interest paid | 5,142 | 4,837 |
Income taxes paid | 310 | 220 |
Supplemental non-cash disclosure: | ||
Transfer from available for sale to held to maturity securities | 0 | 34,741 |
AOCI component of transfer from available for sale to held to maturity | $ 0 | $ 1,081 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation 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 nine September 30, 2022 not may December 31, 2021 10 Use of Estimates In March 2020, 2019 19” 19 19 Future effects, including further actions taken by federal, state, and local governments in response to the disruptions and economic and geopolitical instabilities that have followed COVID- 19 may 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. In March 2022, 2022 02, 326 2016 13 310 40, 2022 02 December 15, 2022. |
Note 2 - Securities
Note 2 - Securities | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2 Securities Securities are classified as available for sale (“AFS”) or held to maturity (“HTM”). AFS securities may The following table summarizes the amortized cost and fair value of AFS and HTM securities at September 30, 2022 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2022 Available for sale U.S. Government and federal agency $ 24,810 $ — $ (2,864 ) $ 21,946 Agency mortgage-backed: residential 82,193 16 (11,777 ) 70,432 Collateralized loan obligations 48,209 — (2,221 ) 45,988 Corporate bonds 45,493 9 (2,576 ) 42,926 Total available for sale $ 200,705 $ 25 $ (19,438 ) $ 181,292 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 43,350 $ — $ (9,582 ) $ 33,768 Total held to maturity $ 43,350 $ — $ (9,582 ) $ 33,768 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale U.S. Government and federal agency $ 26,075 $ 301 $ (133 ) $ 26,243 Agency mortgage-backed: residential 93,650 1,339 (970 ) 94,019 Collateralized loan obligations 50,227 — (78 ) 50,149 Corporate bonds 43,432 572 (202 ) 43,802 Total available for sale $ 213,384 $ 2,212 $ (1,383 ) $ 214,213 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 46,460 $ 158 $ (338 ) $ 46,280 Total held to maturity $ 46,460 $ 158 $ (338 ) $ 46,280 Sales and calls of securities were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) (in thousands) Proceeds $ 350 $ 6,500 $ 1,314 $ 7,204 Gross gains — 465 — 465 Gross losses — — 3 5 The amortized cost and fair value of the debt securities are shown by contractual maturity. Expected maturities may not September 30, 2022 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ — $ — One to five years 4,658 4,504 Five to ten years 84,522 79,322 Beyond ten years 29,332 27,034 Agency mortgage-backed: residential 82,193 70,432 Total $ 200,705 $ 181,292 Held to maturity Within one year $ 1,147 1,114 One to five years 7,740 $ 7,386 Five to ten years 4,121 3,459 Beyond ten years 30,342 21,809 Total $ 43,350 $ 33,768 Securities pledged at September 30, 2022 December 31, 2021 At September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021, no one 10% 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 September 30, 2022, not 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 September 30, 2022, None nine September 30, 2022. Stress testing was completed on each security in the CLO portfolio as of September 30, 2022. ten twelve four four forty-five one The corporate bond portfolio consists of 16 two 2024 2037. five Securities with unrealized and unrecognized losses at September 30, 2022 December 31, 2021, Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss September 30, 2022 Available for sale U.S. Government and federal agency $ 21,946 $ (2,864 ) $ — $ — $ 21,946 $ (2,864 ) Agency mortgage-backed: residential 43,291 (5,944 ) 24,894 (5,833 ) 68,185 (11,777 ) Collateralized loan obligations 30,210 (1,414 ) 15,778 (807 ) 45,988 (2,221 ) Corporate bonds 23,240 (1,666 ) 15,711 (910 ) 38,951 (2,576 ) Total temporarily impaired $ 118,687 $ (11,888 ) $ 56,383 $ (7,550 ) $ 175,070 $ (19,438 ) Less than 12 Months 12 Months or More Total Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held to maturity State and municipal $ 15,420 (3,932 ) 17,018 (5,650 ) 32,438 (9,582 ) Total temporarily impaired $ 15,420 $ (3,932 ) $ 17,018 $ (5,650 ) $ 32,438 $ (9,582 ) Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2021 Available for sale U.S. Government and federal agency $ 11,645 $ (133 ) $ — $ — $ 11,645 $ (133 ) Agency mortgage-backed: residential 53,733 (960 ) 642 (10 ) 54,375 (970 ) Collateralized loan obligations 10,036 (7 ) 16,514 (71 ) 26,550 (78 ) Corporate bonds 22,548 (202 ) — — 22,548 (202 ) Total temporarily impaired $ 97,962 $ (1,302 ) $ 17,156 $ (81 ) $ 115,118 $ (1,383 ) Less than 12 Months 12 Months or More Total Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held to maturity State and municipal $ 26,829 (338 ) — — 26,829 (338 ) Total temporarily impaired $ 26,829 $ (338 ) $ — $ — $ 26,829 $ (338 ) |
Note 3 - Loans
Note 3 - Loans | 9 Months Ended |
Sep. 30, 2022 | |
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: September 30, December 31, 2022 2021 (in thousands) Commercial (1) $ 240,182 $ 220,826 Commercial Real Estate: Construction 127,302 74,806 Farmland 66,820 68,388 Nonfarm nonresidential 399,958 345,893 Residential Real Estate: Multi-family 45,903 50,224 1-4 Family 166,715 168,873 Consumer 33,894 36,440 Agriculture 46,689 35,924 Other 482 466 Subtotal 1,127,945 1,001,840 Less: Allowance for loan losses (13,031 ) (11,531 ) Loans, net $ 1,114,914 $ 990,309 ( 1 Includes SBA Paycheck Protection Program (“PPP”) loans of $150,000 and $1.2 million at September 30, 2022 December 31, 2021, The following table presents the activity in the allowance for loan losses by portfolio segment for the three September 30, 2022 2021: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2022: Beginning balance $ 2,988 $ 7,131 $ 1,397 $ 537 $ 493 $ 4 $ 12,550 Provision (negative provision) (46 ) (1,132 ) (254 ) 43 140 (1 ) (1,250 ) Loans charged off (6 ) – (43 ) (37 ) – – (86 ) Recoveries 28 1,492 267 30 – – 1,817 Ending balance $ 2,964 $ 7,491 $ 1,367 $ 573 $ 633 $ 3 $ 13,031 September 30, 2021: Beginning balance $ 2,304 $ 7,799 $ 1,646 $ 385 $ 500 $ 3 $ 12,637 Provision (negative provision) 371 (80 ) (124 ) 146 (13 ) – 300 Loans charged off – – (18 ) (7 ) – – (25 ) Recoveries 10 3 34 7 7 – 61 Ending balance $ 2,685 $ 7,722 $ 1,538 $ 531 $ 494 $ 3 $ 12,973 The following table presents the activity in the allowance for loan losses by portfolio segment for the nine September 30, 2022 2021: Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2022: Beginning balance $ 2,888 $ 6,179 $ 1,443 $ 538 $ 480 $ 3 $ 11,531 Provision (negative provision) 70 (244 ) (76 ) 92 108 – (50 ) Loans charged off (31 ) (158 ) (369 ) (122 ) – – (680 ) Recoveries 37 1,714 369 65 45 – 2,230 Ending balance $ 2,964 $ 7,491 $ 1,367 $ 573 $ 633 $ 3 $ 13,031 September 30, 2021: Beginning balance $ 2,529 $ 7,050 $ 1,899 $ 361 $ 600 $ 4 $ 12,443 Provision (negative provision) 155 788 (403 ) 187 (76 ) (1 ) 650 Loans charged off (19 ) (129 ) (30 ) (58 ) (44 ) – (280 ) Recoveries 20 13 72 41 14 – 160 Ending balance $ 2,685 $ 7,722 $ 1,538 $ 531 $ 494 $ 3 $ 12,973 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 September 30, 2022: 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 $ – $ – $ 1 $ – $ – $ – $ 1 Collectively evaluated for impairment 2,964 7,491 1,366 573 633 3 13,030 Total ending allowance balance $ 2,964 $ 7,491 $ 1,367 $ 573 $ 633 $ 3 $ 13,031 Loans: Loans individually evaluated for impairment $ – $ 477 $ 509 $ 214 $ – $ – $ 1,200 Loans collectively evaluated for impairment 240,182 593,603 212,109 33,680 46,689 482 1,126,745 Total ending loans balance $ 240,182 $ 594,080 $ 212,618 $ 33,894 $ 46,689 $ 482 $ 1,127,945 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, 2021: 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 $ – $ – $ 2 $ – $ – $ – $ 2 Collectively evaluated for impairment 2,888 6,179 1,441 538 480 3 11,529 Total ending allowance balance $ 2,888 $ 6,179 $ 1,443 $ 538 $ 480 $ 3 $ 11,531 Loans: Loans individually evaluated for impairment $ – $ 2,878 $ 566 $ 12 $ 9 $ – $ 3,465 Loans collectively evaluated for impairment 220,826 486,209 218,531 36,428 35,915 466 998,375 Total ending loans balance $ 220,826 $ 489,087 $ 219,097 $ 36,440 $ 35,924 $ 466 $ 1,001,840 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 has been provided. The following tables present information related to loans individually evaluated for impairment by class of loans as of September 30, 2022 December 31, 2021 three nine September 30, 2022 2021: As of September 30, 2022 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 265 $ — $ — $ — $ 1 $ — $ 1 Commercial real estate: Construction — — — — — — — Farmland 81 29 — 29 — 112 53 Nonfarm nonresidential 1,048 448 — 1,482 2 2,129 148 Residential real estate: Multi-family — — — — — — — 1-4 Family 1,355 450 — 489 20 501 119 Consumer 446 214 — 118 — 70 1 Agriculture 315 — — — — 4 23 Other — — — — — — — Subtotal 3,510 1,141 — 2,118 23 2,816 345 With An Allowance Recorded: Commercial — — — — — — — Commercial real estate: Construction — — — — — — — Farmland — — — — — — — Nonfarm nonresidential — — — — — — — Residential real estate: Multi-family — — — — — — — 1-4 Family 59 59 1 60 — 84 — Consumer — — — — — — — Agriculture — — — — — — — Other — — — — — — — Subtotal 59 59 1 60 — 84 — Total $ 3,569 $ 1,200 $ 1 $ 2,178 $ 23 $ 2,900 $ 345 As of December 31, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 290 $ — $ — $ — $ — $ — $ — Commercial real estate: Construction — — — — — — — Farmland 302 215 — 616 26 596 26 Nonfarm nonresidential 7,755 2,663 — 492 12 517 39 Residential real estate: Multi-family — — — — — — — 1-4 Family 1,408 501 — 716 74 829 112 Consumer 272 12 — 28 — 21 1 Agriculture 366 9 — 101 — 99 — Other — — — — — — — Subtotal 10,393 3,400 — 1,953 112 2,062 178 With An Allowance Recorded: Commercial — — — — — — — Commercial real estate: Construction — — — — — — — Farmland — — — — — — — Nonfarm nonresidential — — — 4,356 66 4,356 196 Residential real estate: Multi-family — — — — — — — 1-4 Family 65 65 2 100 1 102 2 Consumer — — — — — — — Agriculture — — — — — — — Other — — — — — — — Subtotal 65 65 2 4,456 67 4,458 198 Total $ 10,458 $ 3,465 $ 2 $ 6,409 $ 179 $ 6,520 $ 376 Cash basis income recognized on impaired loans for the three nine September 30, 2022 three nine September 30, 2021, 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 September 30, 2022 December 31, 2021: TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2022 Commercial Real Estate: Nonfarm nonresidential $ 146 $ — $ 146 Residential Real Estate: 1-4 Family — 59 59 Total TDRs $ 146 $ 59 $ 205 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 2021 Commercial Real Estate: Nonfarm nonresidential $ 340 $ — $ 340 Residential Real Estate: 1-4 Family — 65 65 Total TDRs $ 340 $ 65 $ 405 At September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021 No TDR modifications occurred during the three nine September 30, 2022. three nine September 30, 2021: TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2021 Residential Real Estate: 1-4 Family $ 180 $ — $ 180 Total TDRs $ 180 $ — $ 180 During the three nine September 30, 2022 September 30, 2021, 12 90 Past Due Loans The following table presents the aging of the recorded investment in past due loans as of September 30, 2022 December 31, 2021: 30 59 Days Past Due 60 89 Days Past Due 90 Days And Over Past Due Nonaccrual Total Past Due And Nonaccrual (in thousands) September 30, 2022 Commercial $ — $ 22 $ — $ — $ 22 Commercial Real Estate: Construction — — — — — Farmland — — — 29 29 Nonfarm nonresidential 31 — — 302 333 Residential Real Estate: Multi-family — — — — — 1-4 Family 213 14 — 509 736 Consumer 30 3 — 214 247 Agriculture 26 18 — — 44 Other — — — — — Total $ 300 $ 57 $ — $ 1,054 $ 1,411 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, 2021 Commercial $ 6 $ — $ — $ — $ 6 Commercial Real Estate: Construction — — — — — Farmland — — — 215 215 Nonfarm nonresidential — 34 — 2,323 2,357 Residential Real Estate: Multi-family — — — — — 1-4 Family 513 148 — 566 1,227 Consumer 37 28 — 12 77 Agriculture — — — 8 8 Other — — — — — Total $ 556 $ 210 $ — $ 3,124 $ 3,890 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. Additionally, 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 September 30, 2022, December 31, 2021, Pass Watch Special Mention Substandard Doubtful Total (in thousands) September 30, 2022 Commercial $ 235,779 $ 41 $ — $ 4,362 $ — $ 240,182 Commercial Real Estate: Construction 127,302 — — — — 127,302 Farmland 64,845 167 — 1,808 — 66,820 Nonfarm nonresidential 398,464 1,174 — 320 — 399,958 Residential Real Estate: Multi-family 45,903 — — — — 45,903 1-4 Family 163,329 1,773 — 1,613 — 166,715 Consumer 33,270 7 — 617 — 33,894 Agriculture 46,635 15 — 39 — 46,689 Other 482 — — — — 482 Total $ 1,116,009 $ 3,177 $ — $ 8,759 $ — $ 1,127,945 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 2021 Commercial $ 207,729 $ 5,207 $ — $ 7,890 $ — $ 220,826 Commercial Real Estate: Construction 74,806 — — — — 74,806 Farmland 65,836 170 — 2,382 — 68,388 Nonfarm nonresidential 341,780 413 — 3,700 — 345,893 Residential Real Estate: Multi-family 50,224 — — — — 50,224 1-4 Family 164,850 2,038 — 1,985 — 168,873 Consumer 36,408 5 — 27 — 36,440 Agriculture 35,863 23 — 38 — 35,924 Other 466 — — — — 466 Total $ 977,962 $ 7,856 $ — $ 16,022 $ — $ 1,001,840 |
Note 4 - Leases
Note 4 - Leases | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 4 Leases As of September 30, 2022, seven 2024 2046, September 30, 2022. 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 September 30, 2022. Total rental expense was $125,000 and $375,000, respectively, for the three nine September 30, 2022, three nine September 30, 2021. September 30, 2022 December 31, 2021. Total estimated rental commitments for the operating leases were as follows as of September 30, 2022 ( September 30, 2022 October – December 2022 $ 114 2023 457 2024 458 2025 438 2026 408 Thereafter 8,899 Total minimum lease payments 10,774 Discount effect of cash flows (4,352 ) Present value of lease liabilities $ 6,422 |
Note 5 - Deposits
Note 5 - Deposits | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 5 Deposits The following table details deposits by category: September 30, 2022 December 31, 2021 (in thousands) Non-interest bearing $ 287,938 $ 274,083 Interest checking 286,867 287,208 Money market 215,450 217,943 Savings 154,545 163,423 Certificates of deposit (1) 273,780 266,011 Total $ 1,218,580 $ 1,208,668 ( 1 Includes brokered deposits of $29.0 million at September 30, 2022. December 31, 2021. Time deposits of $250,000 September 30, 2022 December 31, 2021, Scheduled maturities of total time deposits at September 30, 2022 five Year 1 $ 209,169 Year 2 37,577 Year 3 17,358 Year 4 5,918 Year 5 2,819 Thereafter 939 $ 273,780 |
Note 6 - Advances From the Fede
Note 6 - Advances From the Federal Home Loan Bank | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 6 Advances from the Federal Home Loan Bank Advances from the Federal Home Loan Bank were as follows: September 30, December 31, 2022 2021 (in thousands) Short term advances (fixed rates 3.04% to 4.02%) maturing October 2022 to January 2023 $ 90,000 $ — Long term advances — 20,000 Total advances from the Federal Home Loan Bank $ 90,000 $ 20,000 FHLB advances had a weighted-average rate of 3.33% at September 30, 2022 December 31, 2021. December 31, 2021 May 2022. 2022 2021. first September 30, 2022. December 31, 2021, first September 30, 2022, Scheduled principal payments on the above during the next five Advances Year 1 90,000 $ 90,000 |
Note 7 - Borrowings
Note 7 - Borrowings | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 7 Borrowings Junior Subordinated Debentures September 30, 2022, A summary of the junior subordinated debentures is as follows: Description Issuance Date Interest Rate (1) Junior Subordinated Debt Owed To Trust Maturity Date (2) Statutory Trust I 2/13/2004 3-month LIBOR + 2.85% $ 3,000,000 2/13/2034 Statutory Trust II 2/13/2004 3-month LIBOR + 2.85% 5,000,000 2/13/2034 Statutory Trust III 4/15/2004 3-month LIBOR + 2.79% 3,000,000 4/15/2034 Statutory Trust IV 12/14/2006 3-month LIBOR + 1.67% 10,000,000 3/01/2037 $ 21,000,000 ( 1 As of September 30, 2022, 3 ( 2 The debentures are callable at the Company’s option at their principal amount plus accrued interest. Subordinated Capital Notes July 31, 2029. July 30, 2024 three 2 Federal Funds Line September 30, 2022, |
Note 8 - Fair Values Measuremen
Note 8 - Fair Values Measurement | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 8 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 the Bank’s 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 the Bank’s appraisal date predates a likely change in market conditions. 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. Impaired loans are evaluated quarterly for additional impairment. Management obtains updated appraisals on properties securing the Bank’s 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. Financial assets measured at fair value on a recurring basis at September 30, 2022 December 31, 2021 Fair Value Measurements at September 30, 2022 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 $ 21,946 $ — $ 21,946 $ — Agency mortgage-backed: residential 70,432 — 70,432 — Collateralized loan obligations 45,988 — 45,988 — Corporate bonds 42,926 — 29,594 13,332 Total $ 181,292 $ — $ 167,960 $ 13,332 Fair Value Measurements at December 31, 2021 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 $ 26,243 $ — $ 26,243 $ — Agency mortgage-backed: residential 94,019 — 94,019 — Collateralized loan obligations 50,149 — 50,149 — Corporate bonds 43,802 $ — $ 29,761 $ 14,041 Total $ 214,213 $ — $ 200,172 $ 14,041 There were no 1 2 2022 2021. The Company’s policy is to transfer assets or liabilities from one no 2 3 2022. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3 nine September 30, 2022 2021: September 30, 2022 Corporate Bonds (in thousands) Balance of recurring Level 3 assets at January 1, 2022 $ 14,041 Total gains or losses for the year: Included in other comprehensive income (709 ) Transfers into Level 3 — Balance of recurring Level 3 assets at September 30, 2022 $ 13,332 September 30, 2021 Collateralized Loan Obligations Corporate Bonds (in thousands) Balance of recurring Level 3 assets at January 1, 2021 $ 2,388 $ 11,916 Total gains or losses for the year: Included in earnings — 465 Included in other comprehensive income 106 1,479 Calls — (5,000 ) Transfers into Level 3 — — Balance of recurring Level 3 assets at September 30, 2021 $ 2,494 $ 8,860 The following table presents quantitative information about recurring level 3 Fair Value Measurements at September 30, 2022 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Corporate bonds $ 13,332 Discounted cash flow Constant prepayment rate 0% Spread to benchmark yield 224% - 377% (288%) Indicative broker bid 80% - 97% (89%) Fair Value Measurements at December 31, 2021 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Corporate bonds $ 14,041 Discounted cash flow Constant prepayment rate 0% Spread to benchmark yield 200% - 298% (235%) Indicative broker bid 99% - 106% (103%) Financial assets measured at fair value on a non-recurring basis are summarized below (in thousands): Fair Value Measurements at September 30, 2022 Using 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: Residential real estate: 1-4 Family $ 58 $ — $ — $ 58 Fair Value Measurements at December 31, 2021 Using 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: Residential real estate: 1-4 Family $ 63 $ — $ — $ 63 Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $59,000 at September 30, 2022 three nine September 30, 2022. September 30, 2021 three September 30, 2021 nine September 30, 2021, December 31, 2021, Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated: Fair Value Measurements at September 30, 2022 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 57,370 $ 57,370 $ — $ — $ 57,370 Securities available for sale 181,292 — 167,960 13,332 181,292 Securities held to maturity 43,350 — 33,768 — 33,768 Federal Home Loan Bank stock 5,176 N/A N/A N/A N/A Loans, net 1,114,914 — — 1,043,243 1,043,243 Accrued interest receivable 4,351 — 1,094 3,257 4,351 Financial liabilities Deposits $ 1,218,580 $ 287,938 $ 926,278 $ — $ 1,214,216 Federal Home Loan Bank advances 90,000 — 90,009 — 90,009 Junior subordinated debentures 21,000 — — 18,498 18,498 Subordinated capital notes 25,000 — — 23,791 23,791 Accrued interest payable 586 — 285 301 586 Fair Value Measurements at December 31, 2021 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 77,603 $ 77,603 $ — $ — $ 77,603 Securities available for sale 214,213 — 200,172 14,041 214,213 Securities held to maturity 46,460 — 46,280 — 46,280 Federal Home Loan Bank stock 5,116 N/A N/A N/A N/A Loans, net 990,309 — — 981,995 981,995 Accrued interest receivable 3,870 — 1,022 2,848 3,870 Financial liabilities Deposits $ 1,208,668 $ 274,083 $ 935,768 $ — $ 1,209,851 Federal Home Loan Bank advances 20,000 — 20,046 — 20,046 Junior subordinated debentures 21,000 — — 19,500 19,500 Subordinated capital notes 25,000 — — 26,149 26,149 Accrued interest payable 764 — 136 628 764 In accordance with ASU 2016 01, may Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no may not |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9 Income Taxes Deferred tax assets and liabilities were due to the following as of: September 30, December 31, 2022 2021 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 15,329 $ 19,335 Allowance for loan losses 3,252 2,877 Net unrealized loss on securities 4,711 — New market tax credit carry-forward 208 208 Nonaccrual loan interest 328 321 Accrued expenses 94 138 Lease liability 1,603 1,328 Other 179 202 25,704 24,409 Deferred tax liabilities: FHLB stock dividends 361 415 Fixed assets 120 133 Deferred loan costs 165 176 Net unrealized gain on securities — 390 Lease right-of-use assets 1,603 1,328 Net assets from acquisitions 249 108 Other 204 276 2,702 2,826 Net deferred tax asset $ 23,002 $ 21,583 At September 30, 2022, 2033, 2029. The Company does not not twelve three nine September 30, 2022 September 30, 2021 Under Section 382 382” 382. In 2015, two one July 10, 2015. 5% not 5% not November 25, 2019, not May 2021 June 30, 2024, ( no may 382 no October 24, 2022, October 24, 2022, On September 23, 2015, 382. May 2021 May 19, 2024, ( 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 2019. |
Note 10 - Stock Plans and Stock
Note 10 - Stock Plans and Stock Based Compensation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 10 Stock Plans and Stock Based Compensation Shares available for issuance under the 2018 “2018 seven December 31 The fair value of the 2022 three nine September 30, 2022, three nine September 30, 2021, three nine September 30, 2022, three nine September 30, 2021, The following table summarizes unvested share activity as of and for the periods indicated for the Stock Compensation Plan: Nine Months Ended Twelve Months Ended September 30, 2022 December 31, 2021 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 111,536 $ 13.73 47,438 $ 15.34 Granted 64,600 19.61 110,024 13.52 Vested (30,827 ) 16.06 (37,590 ) 15.13 Forfeited (10,109 ) 15.20 (8,336 ) 13.66 Outstanding, ending 135,200 $ 15.90 111,536 $ 13.73 Unrecognized stock-based compensation expense related to unvested shares is estimated as follows (in thousands): October 2022 – December 2022 $ 211 2023 467 2024 339 2025 197 2026 189 Thereafter 175 |
Note 11 - Earnings Per Share
Note 11 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11 Earnings per Share The factors used in the basic and diluted earnings per share computations follow: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in thousands, except share and per share data) Net income $ 5,813 $ 4,341 $ 13,428 $ 11,464 Less: Earnings allocated to unvested shares 104 76 221 169 Net income available to common shareholders, basic and diluted $ 5,709 $ 4,265 $ 13,207 $ 11,295 Basic and Diluted Weighted average common shares including unvested common shares outstanding 7,639,492 7,602,686 7,628,677 7,591,800 Less: Weighted average unvested common shares 136,283 133,073 125,736 111,790 Weighted average common shares outstanding 7,503,209 7,469,613 7,502,941 7,480,010 Basic and diluted income per common share $ 0.76 $ 0.57 $ 1.76 $ 1.51 The Company had no outstanding stock options or warrants at September 30, 2022 2021. |
Note 12 - Regulatory Capital Ma
Note 12 - Regulatory Capital Matters | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 12 Regulatory Capital Matters Banks and bank holding companies are subject to regulatory capital requirements 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 September 30, 2022, September 30, 2022, 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 September 30, 2022: Total risk-based capital (to risk- weighted assets) $ 179,662 13.53 % $ 106,196 8.00 % $ 132,745 10.00 % Total common equity Tier 1 risk- based capital (to risk-weighted assets) 166,631 12.55 59,735 4.50 86,284 6.50 Tier 1 capital (to risk-weighted assets) 166,631 12.55 79,647 6.00 106,196 8.00 Tier 1 capital (to average assets) 166,631 11.56 57,662 4.00 72,078 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, 2021: Total risk-based capital (to risk- weighted assets) $ 160,700 13.31 % $ 96,591 8.00 % $ 120,738 10.00 % Total common equity Tier 1 risk- based capital (to risk-weighted assets) 149,169 12.35 54,332 4.50 78,480 6.50 Tier 1 capital (to risk-weighted assets) 149,169 12.35 72,443 6.00 96,591 8.00 Tier 1 capital (to average assets) 149,169 10.84 55,057 4.00 68,822 5.00 Kentucky banking laws limit the amount of dividends that may may two September 30, 2022. nine September 30, 2022. |
Note 13 - Off Balance Sheet Ris
Note 13 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13 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 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 The following table presents the contractual amounts of financial instruments with off-balance sheet risk for each period ended: September 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate (in thousands) Commitments to make loans $ 56,136 $ 41,637 $ 85,294 $ 60,683 Unused lines of credit 9,311 114,960 12,828 108,635 Standby letters of credit 365 346 566 326 In connection with the purchase of loan participations, the Bank entered into risk participation agreements, which had notional amounts totaling $12.1 million at September 30, 2022 December 31, 2021. not 815, not 820, September 30, 2022 December 31, 2021, 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 14 - Revenue From Contract
Note 14 - Revenue From Contracts With Customers | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 14 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 Income 606, three nine September 30, 2022, 606. three nine September 30, 2021, 606. three nine 606. |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 15 Subsequent Events Merger Agreement October 24, 2022, may second 2023, not 1 2 3 4 4 5 Tax Benefit Preservation Plan Termination 2015, 9 October 24, 2022, October 24, 2022, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation 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 nine September 30, 2022 not may December 31, 2021 10 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In March 2020, 2019 19” 19 19 Future effects, including further actions taken by federal, state, and local governments in response to the disruptions and economic and geopolitical instabilities that have followed COVID- 19 may 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. In March 2022, 2022 02, 326 2016 13 310 40, 2022 02 December 15, 2022. |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Debt Securities, Available-for-Sale [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2022 Available for sale U.S. Government and federal agency $ 24,810 $ — $ (2,864 ) $ 21,946 Agency mortgage-backed: residential 82,193 16 (11,777 ) 70,432 Collateralized loan obligations 48,209 — (2,221 ) 45,988 Corporate bonds 45,493 9 (2,576 ) 42,926 Total available for sale $ 200,705 $ 25 $ (19,438 ) $ 181,292 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale U.S. Government and federal agency $ 26,075 $ 301 $ (133 ) $ 26,243 Agency mortgage-backed: residential 93,650 1,339 (970 ) 94,019 Collateralized loan obligations 50,227 — (78 ) 50,149 Corporate bonds 43,432 572 (202 ) 43,802 Total available for sale $ 213,384 $ 2,212 $ (1,383 ) $ 214,213 |
Debt Securities, Held-to-Maturity [Table Text Block] | Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 43,350 $ — $ (9,582 ) $ 33,768 Total held to maturity $ 43,350 $ — $ (9,582 ) $ 33,768 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Held to maturity State and municipal $ 46,460 $ 158 $ (338 ) $ 46,280 Total held to maturity $ 46,460 $ 158 $ (338 ) $ 46,280 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) (in thousands) Proceeds $ 350 $ 6,500 $ 1,314 $ 7,204 Gross gains — 465 — 465 Gross losses — — 3 5 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2022 Amortized Cost Fair Value (in thousands) Maturity Available for sale Within one year $ — $ — One to five years 4,658 4,504 Five to ten years 84,522 79,322 Beyond ten years 29,332 27,034 Agency mortgage-backed: residential 82,193 70,432 Total $ 200,705 $ 181,292 Held to maturity Within one year $ 1,147 1,114 One to five years 7,740 $ 7,386 Five to ten years 4,121 3,459 Beyond ten years 30,342 21,809 Total $ 43,350 $ 33,768 |
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 September 30, 2022 Available for sale U.S. Government and federal agency $ 21,946 $ (2,864 ) $ — $ — $ 21,946 $ (2,864 ) Agency mortgage-backed: residential 43,291 (5,944 ) 24,894 (5,833 ) 68,185 (11,777 ) Collateralized loan obligations 30,210 (1,414 ) 15,778 (807 ) 45,988 (2,221 ) Corporate bonds 23,240 (1,666 ) 15,711 (910 ) 38,951 (2,576 ) Total temporarily impaired $ 118,687 $ (11,888 ) $ 56,383 $ (7,550 ) $ 175,070 $ (19,438 ) Less than 12 Months 12 Months or More Total Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held to maturity State and municipal $ 15,420 (3,932 ) 17,018 (5,650 ) 32,438 (9,582 ) Total temporarily impaired $ 15,420 $ (3,932 ) $ 17,018 $ (5,650 ) $ 32,438 $ (9,582 ) Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2021 Available for sale U.S. Government and federal agency $ 11,645 $ (133 ) $ — $ — $ 11,645 $ (133 ) Agency mortgage-backed: residential 53,733 (960 ) 642 (10 ) 54,375 (970 ) Collateralized loan obligations 10,036 (7 ) 16,514 (71 ) 26,550 (78 ) Corporate bonds 22,548 (202 ) — — 22,548 (202 ) Total temporarily impaired $ 97,962 $ (1,302 ) $ 17,156 $ (81 ) $ 115,118 $ (1,383 ) Less than 12 Months 12 Months or More Total Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held to maturity State and municipal $ 26,829 (338 ) — — 26,829 (338 ) Total temporarily impaired $ 26,829 $ (338 ) $ — $ — $ 26,829 $ (338 ) |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2022 2021 (in thousands) Commercial (1) $ 240,182 $ 220,826 Commercial Real Estate: Construction 127,302 74,806 Farmland 66,820 68,388 Nonfarm nonresidential 399,958 345,893 Residential Real Estate: Multi-family 45,903 50,224 1-4 Family 166,715 168,873 Consumer 33,894 36,440 Agriculture 46,689 35,924 Other 482 466 Subtotal 1,127,945 1,001,840 Less: Allowance for loan losses (13,031 ) (11,531 ) Loans, net $ 1,114,914 $ 990,309 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2022: Beginning balance $ 2,988 $ 7,131 $ 1,397 $ 537 $ 493 $ 4 $ 12,550 Provision (negative provision) (46 ) (1,132 ) (254 ) 43 140 (1 ) (1,250 ) Loans charged off (6 ) – (43 ) (37 ) – – (86 ) Recoveries 28 1,492 267 30 – – 1,817 Ending balance $ 2,964 $ 7,491 $ 1,367 $ 573 $ 633 $ 3 $ 13,031 September 30, 2021: Beginning balance $ 2,304 $ 7,799 $ 1,646 $ 385 $ 500 $ 3 $ 12,637 Provision (negative provision) 371 (80 ) (124 ) 146 (13 ) – 300 Loans charged off – – (18 ) (7 ) – – (25 ) Recoveries 10 3 34 7 7 – 61 Ending balance $ 2,685 $ 7,722 $ 1,538 $ 531 $ 494 $ 3 $ 12,973 Commercial Commercial Real Estate Residential Real Estate Consumer Agriculture Other Total (in thousands) September 30, 2022: Beginning balance $ 2,888 $ 6,179 $ 1,443 $ 538 $ 480 $ 3 $ 11,531 Provision (negative provision) 70 (244 ) (76 ) 92 108 – (50 ) Loans charged off (31 ) (158 ) (369 ) (122 ) – – (680 ) Recoveries 37 1,714 369 65 45 – 2,230 Ending balance $ 2,964 $ 7,491 $ 1,367 $ 573 $ 633 $ 3 $ 13,031 September 30, 2021: Beginning balance $ 2,529 $ 7,050 $ 1,899 $ 361 $ 600 $ 4 $ 12,443 Provision (negative provision) 155 788 (403 ) 187 (76 ) (1 ) 650 Loans charged off (19 ) (129 ) (30 ) (58 ) (44 ) – (280 ) Recoveries 20 13 72 41 14 – 160 Ending balance $ 2,685 $ 7,722 $ 1,538 $ 531 $ 494 $ 3 $ 12,973 |
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 $ – $ – $ 1 $ – $ – $ – $ 1 Collectively evaluated for impairment 2,964 7,491 1,366 573 633 3 13,030 Total ending allowance balance $ 2,964 $ 7,491 $ 1,367 $ 573 $ 633 $ 3 $ 13,031 Loans: Loans individually evaluated for impairment $ – $ 477 $ 509 $ 214 $ – $ – $ 1,200 Loans collectively evaluated for impairment 240,182 593,603 212,109 33,680 46,689 482 1,126,745 Total ending loans balance $ 240,182 $ 594,080 $ 212,618 $ 33,894 $ 46,689 $ 482 $ 1,127,945 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 $ – $ – $ 2 $ – $ – $ – $ 2 Collectively evaluated for impairment 2,888 6,179 1,441 538 480 3 11,529 Total ending allowance balance $ 2,888 $ 6,179 $ 1,443 $ 538 $ 480 $ 3 $ 11,531 Loans: Loans individually evaluated for impairment $ – $ 2,878 $ 566 $ 12 $ 9 $ – $ 3,465 Loans collectively evaluated for impairment 220,826 486,209 218,531 36,428 35,915 466 998,375 Total ending loans balance $ 220,826 $ 489,087 $ 219,097 $ 36,440 $ 35,924 $ 466 $ 1,001,840 |
Impaired Financing Receivables [Table Text Block] | As of September 30, 2022 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 265 $ — $ — $ — $ 1 $ — $ 1 Commercial real estate: Construction — — — — — — — Farmland 81 29 — 29 — 112 53 Nonfarm nonresidential 1,048 448 — 1,482 2 2,129 148 Residential real estate: Multi-family — — — — — — — 1-4 Family 1,355 450 — 489 20 501 119 Consumer 446 214 — 118 — 70 1 Agriculture 315 — — — — 4 23 Other — — — — — — — Subtotal 3,510 1,141 — 2,118 23 2,816 345 With An Allowance Recorded: Commercial — — — — — — — Commercial real estate: Construction — — — — — — — Farmland — — — — — — — Nonfarm nonresidential — — — — — — — Residential real estate: Multi-family — — — — — — — 1-4 Family 59 59 1 60 — 84 — Consumer — — — — — — — Agriculture — — — — — — — Other — — — — — — — Subtotal 59 59 1 60 — 84 — Total $ 3,569 $ 1,200 $ 1 $ 2,178 $ 23 $ 2,900 $ 345 As of December 31, 2021 Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Unpaid Principal Balance Recorded Investment Allowance For Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (in thousands) With No Related Allowance Recorded: Commercial $ 290 $ — $ — $ — $ — $ — $ — Commercial real estate: Construction — — — — — — — Farmland 302 215 — 616 26 596 26 Nonfarm nonresidential 7,755 2,663 — 492 12 517 39 Residential real estate: Multi-family — — — — — — — 1-4 Family 1,408 501 — 716 74 829 112 Consumer 272 12 — 28 — 21 1 Agriculture 366 9 — 101 — 99 — Other — — — — — — — Subtotal 10,393 3,400 — 1,953 112 2,062 178 With An Allowance Recorded: Commercial — — — — — — — Commercial real estate: Construction — — — — — — — Farmland — — — — — — — Nonfarm nonresidential — — — 4,356 66 4,356 196 Residential real estate: Multi-family — — — — — — — 1-4 Family 65 65 2 100 1 102 2 Consumer — — — — — — — Agriculture — — — — — — — Other — — — — — — — Subtotal 65 65 2 4,456 67 4,458 198 Total $ 10,458 $ 3,465 $ 2 $ 6,409 $ 179 $ 6,520 $ 376 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2022 Commercial Real Estate: Nonfarm nonresidential $ 146 $ — $ 146 Residential Real Estate: 1-4 Family — 59 59 Total TDRs $ 146 $ 59 $ 205 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) December 31, 2021 Commercial Real Estate: Nonfarm nonresidential $ 340 $ — $ 340 Residential Real Estate: 1-4 Family — 65 65 Total TDRs $ 340 $ 65 $ 405 TDRs Performing to Modified Terms TDRs Not Performing to Modified Terms Total TDRs (in thousands) September 30, 2021 Residential Real Estate: 1-4 Family $ 180 $ — $ 180 Total TDRs $ 180 $ — $ 180 |
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) September 30, 2022 Commercial $ — $ 22 $ — $ — $ 22 Commercial Real Estate: Construction — — — — — Farmland — — — 29 29 Nonfarm nonresidential 31 — — 302 333 Residential Real Estate: Multi-family — — — — — 1-4 Family 213 14 — 509 736 Consumer 30 3 — 214 247 Agriculture 26 18 — — 44 Other — — — — — Total $ 300 $ 57 $ — $ 1,054 $ 1,411 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, 2021 Commercial $ 6 $ — $ — $ — $ 6 Commercial Real Estate: Construction — — — — — Farmland — — — 215 215 Nonfarm nonresidential — 34 — 2,323 2,357 Residential Real Estate: Multi-family — — — — — 1-4 Family 513 148 — 566 1,227 Consumer 37 28 — 12 77 Agriculture — — — 8 8 Other — — — — — Total $ 556 $ 210 $ — $ 3,124 $ 3,890 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Doubtful Total (in thousands) September 30, 2022 Commercial $ 235,779 $ 41 $ — $ 4,362 $ — $ 240,182 Commercial Real Estate: Construction 127,302 — — — — 127,302 Farmland 64,845 167 — 1,808 — 66,820 Nonfarm nonresidential 398,464 1,174 — 320 — 399,958 Residential Real Estate: Multi-family 45,903 — — — — 45,903 1-4 Family 163,329 1,773 — 1,613 — 166,715 Consumer 33,270 7 — 617 — 33,894 Agriculture 46,635 15 — 39 — 46,689 Other 482 — — — — 482 Total $ 1,116,009 $ 3,177 $ — $ 8,759 $ — $ 1,127,945 Pass Watch Special Mention Substandard Doubtful Total (in thousands) December 31, 2021 Commercial $ 207,729 $ 5,207 $ — $ 7,890 $ — $ 220,826 Commercial Real Estate: Construction 74,806 — — — — 74,806 Farmland 65,836 170 — 2,382 — 68,388 Nonfarm nonresidential 341,780 413 — 3,700 — 345,893 Residential Real Estate: Multi-family 50,224 — — — — 50,224 1-4 Family 164,850 2,038 — 1,985 — 168,873 Consumer 36,408 5 — 27 — 36,440 Agriculture 35,863 23 — 38 — 35,924 Other 466 — — — — 466 Total $ 977,962 $ 7,856 $ — $ 16,022 $ — $ 1,001,840 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | September 30, 2022 October – December 2022 $ 114 2023 457 2024 458 2025 438 2026 408 Thereafter 8,899 Total minimum lease payments 10,774 Discount effect of cash flows (4,352 ) Present value of lease liabilities $ 6,422 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Deposits [Table Text Block] | September 30, 2022 December 31, 2021 (in thousands) Non-interest bearing $ 287,938 $ 274,083 Interest checking 286,867 287,208 Money market 215,450 217,943 Savings 154,545 163,423 Certificates of deposit (1) 273,780 266,011 Total $ 1,218,580 $ 1,208,668 |
Schedule of Maturities of Time Deposits [Table Text Block] | Year 1 $ 209,169 Year 2 37,577 Year 3 17,358 Year 4 5,918 Year 5 2,819 Thereafter 939 $ 273,780 |
Note 6 - Advances From the Fe_2
Note 6 - Advances From the Federal Home Loan Bank (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | September 30, December 31, 2022 2021 (in thousands) Short term advances (fixed rates 3.04% to 4.02%) maturing October 2022 to January 2023 $ 90,000 $ — Long term advances — 20,000 Total advances from the Federal Home Loan Bank $ 90,000 $ 20,000 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Advances Year 1 90,000 $ 90,000 |
Note 7 - Borrowings (Tables)
Note 7 - Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Subordinated Borrowing [Table Text Block] | Description Issuance Date Interest Rate (1) Junior Subordinated Debt Owed To Trust Maturity Date (2) Statutory Trust I 2/13/2004 3-month LIBOR + 2.85% $ 3,000,000 2/13/2034 Statutory Trust II 2/13/2004 3-month LIBOR + 2.85% 5,000,000 2/13/2034 Statutory Trust III 4/15/2004 3-month LIBOR + 2.79% 3,000,000 4/15/2034 Statutory Trust IV 12/14/2006 3-month LIBOR + 1.67% 10,000,000 3/01/2037 $ 21,000,000 |
Note 8 - Fair Values Measurem_2
Note 8 - Fair Values Measurement (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2022 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 $ 21,946 $ — $ 21,946 $ — Agency mortgage-backed: residential 70,432 — 70,432 — Collateralized loan obligations 45,988 — 45,988 — Corporate bonds 42,926 — 29,594 13,332 Total $ 181,292 $ — $ 167,960 $ 13,332 Fair Value Measurements at December 31, 2021 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 $ 26,243 $ — $ 26,243 $ — Agency mortgage-backed: residential 94,019 — 94,019 — Collateralized loan obligations 50,149 — 50,149 — Corporate bonds 43,802 $ — $ 29,761 $ 14,041 Total $ 214,213 $ — $ 200,172 $ 14,041 Fair Value Measurements at September 30, 2022 Using 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: Residential real estate: 1-4 Family $ 58 $ — $ — $ 58 Fair Value Measurements at December 31, 2021 Using 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: Residential real estate: 1-4 Family $ 63 $ — $ — $ 63 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | September 30, 2022 Corporate Bonds (in thousands) Balance of recurring Level 3 assets at January 1, 2022 $ 14,041 Total gains or losses for the year: Included in other comprehensive income (709 ) Transfers into Level 3 — Balance of recurring Level 3 assets at September 30, 2022 $ 13,332 September 30, 2021 Collateralized Loan Obligations Corporate Bonds (in thousands) Balance of recurring Level 3 assets at January 1, 2021 $ 2,388 $ 11,916 Total gains or losses for the year: Included in earnings — 465 Included in other comprehensive income 106 1,479 Calls — (5,000 ) Transfers into Level 3 — — Balance of recurring Level 3 assets at September 30, 2021 $ 2,494 $ 8,860 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at September 30, 2022 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 57,370 $ 57,370 $ — $ — $ 57,370 Securities available for sale 181,292 — 167,960 13,332 181,292 Securities held to maturity 43,350 — 33,768 — 33,768 Federal Home Loan Bank stock 5,176 N/A N/A N/A N/A Loans, net 1,114,914 — — 1,043,243 1,043,243 Accrued interest receivable 4,351 — 1,094 3,257 4,351 Financial liabilities Deposits $ 1,218,580 $ 287,938 $ 926,278 $ — $ 1,214,216 Federal Home Loan Bank advances 90,000 — 90,009 — 90,009 Junior subordinated debentures 21,000 — — 18,498 18,498 Subordinated capital notes 25,000 — — 23,791 23,791 Accrued interest payable 586 — 285 301 586 Fair Value Measurements at December 31, 2021 Using Carrying Amount Level 1 Level 2 Level 3 Total (in thousands) Financial assets Cash and cash equivalents $ 77,603 $ 77,603 $ — $ — $ 77,603 Securities available for sale 214,213 — 200,172 14,041 214,213 Securities held to maturity 46,460 — 46,280 — 46,280 Federal Home Loan Bank stock 5,116 N/A N/A N/A N/A Loans, net 990,309 — — 981,995 981,995 Accrued interest receivable 3,870 — 1,022 2,848 3,870 Financial liabilities Deposits $ 1,208,668 $ 274,083 $ 935,768 $ — $ 1,209,851 Federal Home Loan Bank advances 20,000 — 20,046 — 20,046 Junior subordinated debentures 21,000 — — 19,500 19,500 Subordinated capital notes 25,000 — — 26,149 26,149 Accrued interest payable 764 — 136 628 764 |
Fair Value, Inputs, Level 3 [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value Measurements at September 30, 2022 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Corporate bonds $ 13,332 Discounted cash flow Constant prepayment rate 0% Spread to benchmark yield 224% - 377% (288%) Indicative broker bid 80% - 97% (89%) Fair Value Measurements at December 31, 2021 Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Corporate bonds $ 14,041 Discounted cash flow Constant prepayment rate 0% Spread to benchmark yield 200% - 298% (235%) Indicative broker bid 99% - 106% (103%) |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, December 31, 2022 2021 (in thousands) Deferred tax assets: Net operating loss carry-forward $ 15,329 $ 19,335 Allowance for loan losses 3,252 2,877 Net unrealized loss on securities 4,711 — New market tax credit carry-forward 208 208 Nonaccrual loan interest 328 321 Accrued expenses 94 138 Lease liability 1,603 1,328 Other 179 202 25,704 24,409 Deferred tax liabilities: FHLB stock dividends 361 415 Fixed assets 120 133 Deferred loan costs 165 176 Net unrealized gain on securities — 390 Lease right-of-use assets 1,603 1,328 Net assets from acquisitions 249 108 Other 204 276 2,702 2,826 Net deferred tax asset $ 23,002 $ 21,583 |
Note 10 - Stock Plans and Sto_2
Note 10 - Stock Plans and Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Nonvested Share Activity [Table Text Block] | Nine Months Ended Twelve Months Ended September 30, 2022 December 31, 2021 Weighted Weighted Average Average Grant Grant Shares Price Shares Price Outstanding, beginning 111,536 $ 13.73 47,438 $ 15.34 Granted 64,600 19.61 110,024 13.52 Vested (30,827 ) 16.06 (37,590 ) 15.13 Forfeited (10,109 ) 15.20 (8,336 ) 13.66 Outstanding, ending 135,200 $ 15.90 111,536 $ 13.73 |
Share-Based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | October 2022 – December 2022 $ 211 2023 467 2024 339 2025 197 2026 189 Thereafter 175 |
Note 11 - Earnings Per Share (T
Note 11 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (in thousands, except share and per share data) Net income $ 5,813 $ 4,341 $ 13,428 $ 11,464 Less: Earnings allocated to unvested shares 104 76 221 169 Net income available to common shareholders, basic and diluted $ 5,709 $ 4,265 $ 13,207 $ 11,295 Basic and Diluted Weighted average common shares including unvested common shares outstanding 7,639,492 7,602,686 7,628,677 7,591,800 Less: Weighted average unvested common shares 136,283 133,073 125,736 111,790 Weighted average common shares outstanding 7,503,209 7,469,613 7,502,941 7,480,010 Basic and diluted income per common share $ 0.76 $ 0.57 $ 1.76 $ 1.51 |
Note 12 - Regulatory Capital _2
Note 12 - Regulatory Capital Matters (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022: Total risk-based capital (to risk- weighted assets) $ 179,662 13.53 % $ 106,196 8.00 % $ 132,745 10.00 % Total common equity Tier 1 risk- based capital (to risk-weighted assets) 166,631 12.55 59,735 4.50 86,284 6.50 Tier 1 capital (to risk-weighted assets) 166,631 12.55 79,647 6.00 106,196 8.00 Tier 1 capital (to average assets) 166,631 11.56 57,662 4.00 72,078 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, 2021: Total risk-based capital (to risk- weighted assets) $ 160,700 13.31 % $ 96,591 8.00 % $ 120,738 10.00 % Total common equity Tier 1 risk- based capital (to risk-weighted assets) 149,169 12.35 54,332 4.50 78,480 6.50 Tier 1 capital (to risk-weighted assets) 149,169 12.35 72,443 6.00 96,591 8.00 Tier 1 capital (to average assets) 149,169 10.84 55,057 4.00 68,822 5.00 |
Note 13 - Off Balance Sheet R_2
Note 13 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | September 30, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate (in thousands) Commitments to make loans $ 56,136 $ 41,637 $ 85,294 $ 60,683 Unused lines of credit 9,311 114,960 12,828 108,635 Standby letters of credit 365 346 566 326 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-Sale, Total | $ 181,292 | $ 214,213 |
Risk Level, AA Rated [Member] | ||
Collateralized Agreements, Total | 27,000 | |
Risk Level, A Rated [Member] | ||
Collateralized Agreements, Total | 19,000 | |
Kentucky Municipalities [Member] | ||
Debt Securities, Available-for-Sale, Total | 35,200 | |
Asset Pledged as Collateral [Member] | Deposits [Member] | ||
Financial Instruments, Owned, at Fair Value, Total | $ 117,800 | $ 155,400 |
Note 2 - Securities - Amortized
Note 2 - Securities - Amortized Cost, Gross Unrealized Gains or Losses, and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available for sale securities, amortized cost | $ 200,705 | $ 213,384 |
Available for sale securities, gross unrealized gains | 25 | 2,212 |
Available for sale securities, gross unrealized losses | (19,438) | (1,383) |
Securities available for sale | 181,292 | 214,213 |
US Treasury and Government [Member] | ||
Available for sale securities, amortized cost | 24,810 | 26,075 |
Available for sale securities, gross unrealized gains | 0 | 301 |
Available for sale securities, gross unrealized losses | (2,864) | (133) |
Securities available for sale | 21,946 | 26,243 |
Residential Mortgage-Backed Securities [Member] | ||
Available for sale securities, amortized cost | 82,193 | 93,650 |
Available for sale securities, gross unrealized gains | 16 | 1,339 |
Available for sale securities, gross unrealized losses | (11,777) | (970) |
Securities available for sale | 70,432 | 94,019 |
Collateralized Debt Obligations [Member] | ||
Available for sale securities, amortized cost | 48,209 | 50,227 |
Available for sale securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (2,221) | (78) |
Securities available for sale | 45,988 | 50,149 |
Corporate Debt Securities [Member] | ||
Available for sale securities, amortized cost | 45,493 | 43,432 |
Available for sale securities, gross unrealized gains | 9 | 572 |
Available for sale securities, gross unrealized losses | (2,576) | (202) |
Securities available for sale | $ 42,926 | $ 43,802 |
Note 2 - Securities - Amortiz_2
Note 2 - Securities - Amortized Cost, Gross Unrealized Gains or Losses, and Fair Value of Held to Maturities Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Securities held to maturity (fair value of $33,768 and $46,280, respectively) | $ 43,350 | $ 46,460 |
Held to maturity, gross unrecognized gains | 0 | 158 |
Held to maturity, gross unrecognized losses | (9,582) | (338) |
Securities held to maturity, fair value | 33,768 | 46,280 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities held to maturity (fair value of $33,768 and $46,280, respectively) | 43,350 | 46,460 |
Held to maturity, gross unrecognized gains | 0 | 158 |
Held to maturity, gross unrecognized losses | (9,582) | (338) |
Securities held to maturity, fair value | $ 33,768 | $ 46,280 |
Note 2 - Securities - Sales and
Note 2 - Securities - Sales and Calls of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Proceeds | $ 350 | $ 6,500 | $ 1,314 | $ 7,204 |
Gross gains | 0 | 465 | 0 | 465 |
Gross losses | $ 0 | $ 0 | $ 3 | $ 5 |
Note 2 - Securities - Amortiz_3
Note 2 - Securities - Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Within one year, amortized cost, available for sale | $ 0 | |
Within one year, fair value, available for sale | 0 | |
One to five years, amortized cost, available for sale | 4,658 | |
One to five years, fair value, available for sale | 4,504 | |
Five to ten years, amortized cost, available for sale | 84,522 | |
Five to ten years, fair value, available for sale | 79,322 | |
Beyond ten years, amortized cost, available for sale | 29,332 | |
Beyond ten years, fair value, available for sale | 27,034 | |
Agency mortgage-backed: residential, amortized cost, available for sale | 82,193 | |
Agency mortgage-backed: residential, fair value, available for sale | 70,432 | |
Total, amortized cost, available for sale | 200,705 | $ 213,384 |
Total, fair value, available for sale | 181,292 | 214,213 |
Within one year, amortized cost, held to maturity | 1,147 | |
Within one year, fair value, held to maturity | 1,114 | |
One to five years, amortized cost, held to maturity | 7,740 | |
One to five years, fair value, held to maturity | 7,386 | |
Five to ten years, amortized cost, held to maturity | 4,121 | |
Five to ten years, fair value, held to maturity | 3,459 | |
Beyond ten years, amortized cost, held to maturity | 30,342 | |
Beyond ten years, fair value, held to maturity | 21,809 | |
Total, amortized cost, held to maturity | 43,350 | |
Total, fair value, held to maturity | $ 33,768 | $ 46,280 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available for sale, fair value, less than 12 months | $ 118,687 | $ 97,962 |
Available for sale, unrealized loss, less than 12 months | (11,888) | (1,302) |
Available for sale, fair value, 12 months or more | 56,383 | 17,156 |
Available for sale, unrealized loss, 12 months or more | (7,550) | (81) |
Available for sale, fair value | 175,070 | 115,118 |
Available for sale, unrealized loss | (19,438) | (1,383) |
Held to maturity, fair value, less than 12 months | 15,420 | 26,829 |
Held to maturity, unrecognized loss, less than 12 months | (3,932) | (338) |
Held to maturity, fair value, 12 months or more | 17,018 | 0 |
Held to maturity, unrecognized loss, 12 months or more | (5,650) | 0 |
Held to maturity, fair value | 32,438 | 26,829 |
Held to maturity, unrecognized loss | (9,582) | (338) |
Held to maturity, unrecognized loss, 12 months or more | 5,650 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held to maturity, fair value, less than 12 months | 15,420 | 26,829 |
Held to maturity, unrecognized loss, less than 12 months | (3,932) | (338) |
Held to maturity, fair value, 12 months or more | 17,018 | 0 |
Held to maturity, unrecognized loss, 12 months or more | (5,650) | 0 |
Held to maturity, fair value | 32,438 | 26,829 |
Held to maturity, unrecognized loss | (9,582) | (338) |
Held to maturity, unrecognized loss, 12 months or more | 5,650 | 0 |
US Treasury and Government [Member] | ||
Available for sale, fair value, less than 12 months | 21,946 | 11,645 |
Available for sale, unrealized loss, less than 12 months | (2,864) | (133) |
Available for sale, fair value, 12 months or more | 0 | 0 |
Available for sale, unrealized loss, 12 months or more | 0 | 0 |
Available for sale, fair value | 21,946 | 11,645 |
Available for sale, unrealized loss | (2,864) | (133) |
Residential Mortgage-Backed Securities [Member] | ||
Available for sale, fair value, less than 12 months | 43,291 | 53,733 |
Available for sale, unrealized loss, less than 12 months | (5,944) | (960) |
Available for sale, fair value, 12 months or more | 24,894 | 642 |
Available for sale, unrealized loss, 12 months or more | (5,833) | (10) |
Available for sale, fair value | 68,185 | 54,375 |
Available for sale, unrealized loss | (11,777) | (970) |
Collateralized Loan Obligations [Member] | ||
Available for sale, fair value, less than 12 months | 30,210 | 10,036 |
Available for sale, unrealized loss, less than 12 months | (1,414) | (7) |
Available for sale, fair value, 12 months or more | 15,778 | 16,514 |
Available for sale, unrealized loss, 12 months or more | (807) | (71) |
Available for sale, fair value | 45,988 | 26,550 |
Available for sale, unrealized loss | (2,221) | (78) |
Corporate Debt Securities [Member] | ||
Available for sale, fair value, less than 12 months | 23,240 | 22,548 |
Available for sale, unrealized loss, less than 12 months | (1,666) | (202) |
Available for sale, fair value, 12 months or more | 15,711 | 0 |
Available for sale, unrealized loss, 12 months or more | (910) | 0 |
Available for sale, fair value | 38,951 | 22,548 |
Available for sale, unrealized loss | $ (2,576) | $ (202) |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | ||
Loans and Leases Receivable, Gross | $ 1,127,945,000 | $ 1,127,945,000 | $ 1,001,840,000 | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 21,000 | $ 96,000 | $ 333,000 | $ 148,000 | ||
Financing Receivable Modifications Percentage of Performing TDRs to Total TDRs | 71% | 71% | 84% | |||
Troubled Debt Restructuring Reserve | $ 1,000 | $ 1,000 | $ 2,000 | |||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | 0 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross | [1] | $ 240,182,000 | $ 240,182,000 | 220,826,000 | ||
Commercial Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||||
Loans and Leases Receivable, Gross | $ 150,000,000,000 | $ 150,000,000,000 | $ 1,200,000 | |||
[1]Includes SBA Paycheck Protection Program (“PPP”) loans of $165,000 and $1.2 million at June 30, 2022 and December 31, 2021, respectively. |
Note 3 - Loans - Loans (Details
Note 3 - Loans - Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Gross loans | $ 1,127,945 | $ 1,001,840 | |
Less: Allowance for loan losses | (13,031) | (11,531) | |
Loans, net | 1,114,914 | 990,309 | |
Commercial Portfolio Segment [Member] | |||
Gross loans | [1] | 240,182 | 220,826 |
Less: Allowance for loan losses | (2,964) | (2,888) | |
Commercial Real Estate Portfolio Segment [Member] | |||
Gross loans | 594,080 | 489,087 | |
Less: Allowance for loan losses | (7,491) | (6,179) | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Gross loans | 127,302 | 74,806 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Gross loans | 66,820 | 68,388 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 399,958 | 345,893 | |
Residential Portfolio Segment [Member] | |||
Gross loans | 212,618 | 219,097 | |
Less: Allowance for loan losses | (1,367) | (1,443) | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||
Gross loans | 45,903 | 50,224 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 166,715 | 168,873 | |
Consumer Portfolio Segment [Member] | |||
Gross loans | 33,894 | 36,440 | |
Less: Allowance for loan losses | (573) | (538) | |
Agriculture Portfolio Segment [Member] | |||
Gross loans | 46,689 | 35,924 | |
Less: Allowance for loan losses | (633) | (480) | |
Other Portfolio Segment [Member] | |||
Gross loans | 482 | 466 | |
Less: Allowance for loan losses | $ (3) | $ (3) | |
[1]Includes SBA Paycheck Protection Program (“PPP”) loans of $165,000 and $1.2 million at June 30, 2022 and December 31, 2021, respectively. |
Note 3 - Loans - Activity in Al
Note 3 - Loans - Activity in Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Balance | $ 12,550 | $ 12,637 | $ 11,531 | $ 12,443 |
Provision (negative provision) for loan losses | (1,250) | 300 | (50) | 650 |
Loans charged off | (86) | (25) | (680) | (280) |
Recoveries | 1,817 | 61 | 2,230 | 160 |
Balance | 13,031 | 12,973 | 13,031 | 12,973 |
Commercial Portfolio Segment [Member] | ||||
Balance | 2,988 | 2,304 | 2,888 | 2,529 |
Provision (negative provision) for loan losses | (46) | 371 | 70 | 155 |
Loans charged off | (6) | 0 | (31) | (19) |
Recoveries | 28 | 10 | 37 | 20 |
Balance | 2,964 | 2,685 | 2,964 | 2,685 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 7,131 | 7,799 | 6,179 | 7,050 |
Provision (negative provision) for loan losses | (1,132) | (80) | (244) | 788 |
Loans charged off | 0 | 0 | (158) | (129) |
Recoveries | 1,492 | 3 | 1,714 | 13 |
Balance | 7,491 | 7,722 | 7,491 | 7,722 |
Residential Portfolio Segment [Member] | ||||
Balance | 1,397 | 1,646 | 1,443 | 1,899 |
Provision (negative provision) for loan losses | (254) | (124) | (76) | (403) |
Loans charged off | (43) | (18) | (369) | (30) |
Recoveries | 267 | 34 | 369 | 72 |
Balance | 1,367 | 1,538 | 1,367 | 1,538 |
Consumer Portfolio Segment [Member] | ||||
Balance | 537 | 385 | 538 | 361 |
Provision (negative provision) for loan losses | 43 | 146 | 92 | 187 |
Loans charged off | (37) | (7) | (122) | (58) |
Recoveries | 30 | 7 | 65 | 41 |
Balance | 573 | 531 | 573 | 531 |
Agriculture Portfolio Segment [Member] | ||||
Balance | 493 | 500 | 480 | 600 |
Provision (negative provision) for loan losses | 140 | (13) | 108 | (76) |
Loans charged off | 0 | 0 | 0 | (44) |
Recoveries | 0 | 7 | 45 | 14 |
Balance | 633 | 494 | 633 | 494 |
Other Portfolio Segment [Member] | ||||
Balance | 4 | 3 | 3 | 4 |
Provision (negative provision) for loan losses | (1) | 0 | 0 | (1) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Balance | $ 3 | $ 3 | $ 3 | $ 3 |
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 | Sep. 30, 2022 | Dec. 31, 2021 | |
Individually evaluated for impairment | $ 1 | $ 2 | |
Collectively evaluated for impairment | 13,030 | 11,529 | |
Total ending allowance balance | 13,031 | 11,531 | |
Loans individually evaluated for impairment | 1,200 | 3,465 | |
Loans collectively evaluated for impairment | 1,126,745 | 998,375 | |
Total ending loans balance | 1,127,945 | 1,001,840 | |
Commercial Portfolio Segment [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 2,964 | 2,888 | |
Total ending allowance balance | 2,964 | 2,888 | |
Loans individually evaluated for impairment | 0 | 0 | |
Loans collectively evaluated for impairment | 240,182 | 220,826 | |
Total ending loans balance | [1] | 240,182 | 220,826 |
Commercial Real Estate Portfolio Segment [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 7,491 | 6,179 | |
Total ending allowance balance | 7,491 | 6,179 | |
Loans individually evaluated for impairment | 477 | 2,878 | |
Loans collectively evaluated for impairment | 593,603 | 486,209 | |
Total ending loans balance | 594,080 | 489,087 | |
Residential Portfolio Segment [Member] | |||
Individually evaluated for impairment | 1 | 2 | |
Collectively evaluated for impairment | 1,366 | 1,441 | |
Total ending allowance balance | 1,367 | 1,443 | |
Loans individually evaluated for impairment | 509 | 566 | |
Loans collectively evaluated for impairment | 212,109 | 218,531 | |
Total ending loans balance | 212,618 | 219,097 | |
Consumer Portfolio Segment [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 573 | 538 | |
Total ending allowance balance | 573 | 538 | |
Loans individually evaluated for impairment | 214 | 12 | |
Loans collectively evaluated for impairment | 33,680 | 36,428 | |
Total ending loans balance | 33,894 | 36,440 | |
Agriculture Portfolio Segment [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 633 | 480 | |
Total ending allowance balance | 633 | 480 | |
Loans individually evaluated for impairment | 0 | 9 | |
Loans collectively evaluated for impairment | 46,689 | 35,915 | |
Total ending loans balance | 46,689 | 35,924 | |
Other Portfolio Segment [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 3 | 3 | |
Total ending allowance balance | 3 | 3 | |
Loans individually evaluated for impairment | 0 | 0 | |
Loans collectively evaluated for impairment | 482 | 466 | |
Total ending loans balance | $ 482 | $ 466 | |
[1]Includes SBA Paycheck Protection Program (“PPP”) loans of $165,000 and $1.2 million at June 30, 2022 and December 31, 2021, respectively. |
Note 3 - Loans - Loans Individu
Note 3 - Loans - Loans Individually Evaluated for Impairment by Class of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Unpaid principal balance, with no related allowance recorded | $ 3,510 | $ 3,510 | $ 10,393 | ||
Recorded investment, with no related allowance recorded | 1,141 | 1,141 | 3,400 | ||
Average recorded investment, with no related allowance recorded | 2,118 | $ 1,953 | 2,816 | $ 2,062 | |
Interest income recognized, with no related allowance recorded | 23 | 112 | |||
Cash basis interest income recognized, with no related allowance recorded | 345 | 178 | |||
Unpaid principal balance, with an allowance recorded | 59 | 59 | 65 | ||
Recorded investment, with an allowance recorded | 59 | 59 | 65 | ||
Allowance for loan losses allocated, with an allowance recorded | 1 | 1 | 2 | ||
Average recorded investment, with an allowance recorded | 60 | 4,456 | 84 | 4,458 | |
Interest income recognized, with an allowance recorded | 0 | 67 | |||
Cash basis interest income recognized, with an allowance recorded | 0 | 198 | |||
Unpaid principal balance, total | 3,569 | 3,569 | 10,458 | ||
Recorded investment, total | 1,200 | 1,200 | 3,465 | ||
Average recorded investment, total | 2,178 | 6,409 | 2,900 | 6,520 | |
Interest income recognized, total | 23 | 179 | 345 | 376 | |
Commercial Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 265 | 265 | 290 | ||
Recorded investment, with no related allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with no related allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with no related allowance recorded | 1 | 0 | |||
Cash basis interest income recognized, with no related allowance recorded | 1 | 0 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 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] | Construction Loans [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with no related allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with no related allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with no related allowance recorded | 0 | 0 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 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 | 81 | 81 | 302 | ||
Recorded investment, with no related allowance recorded | 29 | 29 | 215 | ||
Average recorded investment, with no related allowance recorded | 29 | 616 | 112 | 596 | |
Interest income recognized, with no related allowance recorded | 0 | 26 | |||
Cash basis interest income recognized, with no related allowance recorded | 53 | 26 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 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] | Nonfarm Nonresidential [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 1,048 | 1,048 | 7,755 | ||
Recorded investment, with no related allowance recorded | 448 | 448 | 2,663 | ||
Average recorded investment, with no related allowance recorded | 1,482 | 492 | 2,129 | 517 | |
Interest income recognized, with no related allowance recorded | 2 | 12 | |||
Cash basis interest income recognized, with no related allowance recorded | 148 | 39 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 4,356 | 0 | 4,356 | |
Interest income recognized, with an allowance recorded | 0 | 66 | |||
Cash basis interest income recognized, with an allowance recorded | 0 | 196 | |||
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with no related allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with no related allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with no related allowance recorded | 0 | 0 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with an allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with an allowance recorded | 0 | 0 | |||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 1,355 | 1,355 | 1,408 | ||
Recorded investment, with no related allowance recorded | 450 | 450 | 501 | ||
Average recorded investment, with no related allowance recorded | 489 | 716 | 501 | 829 | |
Interest income recognized, with no related allowance recorded | 20 | 74 | |||
Cash basis interest income recognized, with no related allowance recorded | 119 | 112 | |||
Unpaid principal balance, with an allowance recorded | 59 | 59 | 65 | ||
Recorded investment, with an allowance recorded | 59 | 59 | 65 | ||
Allowance for loan losses allocated, with an allowance recorded | 1 | 1 | 2 | ||
Average recorded investment, with an allowance recorded | 60 | 100 | 84 | 102 | |
Interest income recognized, with an allowance recorded | 0 | 1 | |||
Cash basis interest income recognized, with an allowance recorded | 0 | 2 | |||
Consumer Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 446 | 446 | 272 | ||
Recorded investment, with no related allowance recorded | 214 | 214 | 12 | ||
Average recorded investment, with no related allowance recorded | 118 | 28 | 70 | 21 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with no related allowance recorded | 1 | 1 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 0 | 0 | |
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 | 315 | 315 | 366 | ||
Recorded investment, with no related allowance recorded | 0 | 0 | 9 | ||
Average recorded investment, with no related allowance recorded | 0 | 101 | 4 | 99 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with no related allowance recorded | 23 | 0 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with an allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with an allowance recorded | 0 | 0 | |||
Other Portfolio Segment [Member] | |||||
Unpaid principal balance, with no related allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with no related allowance recorded | 0 | 0 | 0 | ||
Average recorded investment, with no related allowance recorded | 0 | 0 | 0 | 0 | |
Interest income recognized, with no related allowance recorded | 0 | 0 | |||
Cash basis interest income recognized, with no related allowance recorded | 0 | 0 | |||
Unpaid principal balance, with an allowance recorded | 0 | 0 | 0 | ||
Recorded investment, with an allowance recorded | 0 | 0 | 0 | ||
Allowance for loan losses allocated, with an allowance recorded | 0 | 0 | $ 0 | ||
Average recorded investment, with an allowance recorded | 0 | 0 | 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 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Troubled debt restructuring | $ 205 | $ 405 | $ 180 |
Nonfarm Nonresidential [Member] | Commercial Real Estate [Member] | |||
Troubled debt restructuring | 146 | ||
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Troubled debt restructuring | 340 | ||
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Troubled debt restructuring | 59 | 65 | 180 |
Performing Financial Instruments [Member] | |||
Troubled debt restructuring | 146 | 340 | 180 |
Performing Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Commercial Real Estate [Member] | |||
Troubled debt restructuring | 146 | ||
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Troubled debt restructuring | 340 | ||
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Troubled debt restructuring | 0 | 0 | 180 |
Nonperforming Financial Instruments [Member] | |||
Troubled debt restructuring | 59 | 65 | 0 |
Nonperforming Financial Instruments [Member] | Nonfarm Nonresidential [Member] | Commercial Real Estate [Member] | |||
Troubled debt restructuring | 0 | ||
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Troubled debt restructuring | 0 | ||
Nonperforming Financial Instruments [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Troubled debt restructuring | $ 59 | $ 65 | $ 0 |
Note 3 - Loans - Aging of Recor
Note 3 - Loans - Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Gross loans | $ 1,127,945 | $ 1,001,840 | |
Nonaccrual | 1,054 | 3,124 | |
Total past due and nonaccrual | 1,411 | 3,890 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Gross loans | 300 | 556 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Gross loans | 57 | 210 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Gross loans | [1] | 240,182 | 220,826 |
Nonaccrual | 0 | 0 | |
Total past due and nonaccrual | 22 | 6 | |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Gross loans | 0 | 6 | |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Gross loans | 22 | 0 | |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Gross loans | 594,080 | 489,087 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Gross loans | 127,302 | 74,806 | |
Nonaccrual | 0 | 0 | |
Total past due and nonaccrual | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Gross loans | 66,820 | 68,388 | |
Nonaccrual | 29 | 215 | |
Total past due and nonaccrual | 29 | 215 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 399,958 | 345,893 | |
Nonaccrual | 302 | 2,323 | |
Total past due and nonaccrual | 333 | 2,357 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Farmland Loans [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 31 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Farmland Loans [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 0 | 34 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Farmland Loans [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Gross loans | 212,618 | 219,097 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||
Gross loans | 45,903 | 50,224 | |
Nonaccrual | 0 | 0 | |
Total past due and nonaccrual | 0 | 0 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 166,715 | 168,873 | |
Nonaccrual | 509 | 566 | |
Total past due and nonaccrual | 736 | 1,227 | |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Multifamily Loans [Member] | |||
Gross loans | 0 | 0 | |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 213 | 513 | |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Multifamily Loans [Member] | |||
Gross loans | 0 | 0 | |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 14 | 148 | |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Multifamily Loans [Member] | |||
Gross loans | 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] | |||
Gross loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Gross loans | 33,894 | 36,440 | |
Nonaccrual | 214 | 12 | |
Total past due and nonaccrual | 247 | 77 | |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Gross loans | 30 | 37 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Gross loans | 3 | 28 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Agriculture Portfolio Segment [Member] | |||
Gross loans | 46,689 | 35,924 | |
Nonaccrual | 0 | 8 | |
Total past due and nonaccrual | 44 | 8 | |
Agriculture Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Gross loans | 26 | 0 | |
Agriculture Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Gross loans | 18 | 0 | |
Agriculture Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Other Portfolio Segment [Member] | |||
Gross loans | 482 | 466 | |
Nonaccrual | 0 | 0 | |
Total past due and nonaccrual | 0 | 0 | |
Other Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Other Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Other Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | $ 0 | $ 0 | |
[1]Includes SBA Paycheck Protection Program (“PPP”) loans of $165,000 and $1.2 million at June 30, 2022 and December 31, 2021, respectively. |
Note 3 - Loans - Risk Category
Note 3 - Loans - Risk Category of Loans by Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Gross loans | $ 1,127,945 | $ 1,001,840 | |
Pass [Member] | |||
Gross loans | 1,116,009 | 977,962 | |
Watch [Member] | |||
Gross loans | 3,177 | 7,856 | |
Special Mention [Member] | |||
Gross loans | 0 | 0 | |
Substandard [Member] | |||
Gross loans | 8,759 | 16,022 | |
Doubtful [Member] | |||
Gross loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Gross loans | [1] | 240,182 | 220,826 |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Gross loans | 235,779 | 207,729 | |
Commercial Portfolio Segment [Member] | Watch [Member] | |||
Gross loans | 41 | 5,207 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Gross loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Gross loans | 4,362 | 7,890 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Gross loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Gross loans | 594,080 | 489,087 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Gross loans | 127,302 | 74,806 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | |||
Gross loans | 66,820 | 68,388 | |
Commercial Real Estate Portfolio Segment [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 399,958 | 345,893 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | |||
Gross loans | 127,302 | 74,806 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Farmland Loans [Member] | |||
Gross loans | 64,845 | 65,836 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 398,464 | 341,780 | |
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 | 167 | 170 | |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 1,174 | 413 | |
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 | 1,808 | 2,382 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Nonfarm Nonresidential [Member] | |||
Gross loans | 320 | 3,700 | |
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 | 212,618 | 219,097 | |
Residential Portfolio Segment [Member] | Multifamily Loans [Member] | |||
Gross loans | 45,903 | 50,224 | |
Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 166,715 | 168,873 | |
Residential Portfolio Segment [Member] | Pass [Member] | Multifamily Loans [Member] | |||
Gross loans | 45,903 | 50,224 | |
Residential Portfolio Segment [Member] | Pass [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 163,329 | 164,850 | |
Residential Portfolio Segment [Member] | Watch [Member] | Multifamily Loans [Member] | |||
Gross loans | 0 | 0 | |
Residential Portfolio Segment [Member] | Watch [Member] | One- to Four-family Residential Properties [Member] | |||
Gross loans | 1,773 | 2,038 | |
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 | 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 | 1,613 | 1,985 | |
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 | 33,894 | 36,440 | |
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Gross loans | 33,270 | 36,408 | |
Consumer Portfolio Segment [Member] | Watch [Member] | |||
Gross loans | 7 | 5 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | |||
Gross loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | |||
Gross loans | 617 | 27 | |
Consumer Portfolio Segment [Member] | Doubtful [Member] | |||
Gross loans | 0 | 0 | |
Agriculture Portfolio Segment [Member] | |||
Gross loans | 46,689 | 35,924 | |
Agriculture Portfolio Segment [Member] | Pass [Member] | |||
Gross loans | 46,635 | 35,863 | |
Agriculture Portfolio Segment [Member] | Watch [Member] | |||
Gross loans | 15 | 23 | |
Agriculture Portfolio Segment [Member] | Special Mention [Member] | |||
Gross loans | 0 | 0 | |
Agriculture Portfolio Segment [Member] | Substandard [Member] | |||
Gross loans | 39 | 38 | |
Agriculture Portfolio Segment [Member] | Doubtful [Member] | |||
Gross loans | 0 | 0 | |
Other Portfolio Segment [Member] | |||
Gross loans | 482 | 466 | |
Other Portfolio Segment [Member] | Pass [Member] | |||
Gross loans | 482 | 466 | |
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 | |
[1]Includes SBA Paycheck Protection Program (“PPP”) loans of $165,000 and $1.2 million at June 30, 2022 and December 31, 2021, respectively. |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 21 years | 21 years | |||
Operating Lease, Weighted Average Discount Rate, Percent | 4.20% | 4.20% | |||
Operating Lease, Expense | $ 125,000 | $ 78,000 | $ 375,000 | $ 326,000 | |
Premises and Equipment [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 6,400,000 | $ 6,400,000 | $ 5,300,000 |
Note 4 - Leases - Future Minimu
Note 4 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
October – December 2022 | $ 114 |
2023 | 457 |
2024 | 458 |
2025 | 438 |
2026 | 408 |
Thereafter | 8,899 |
Total minimum lease payments | 10,774 |
Discount effect of cash flows | (4,352) |
Other Liabilities [Member] | |
Present value of lease liabilities | $ 6,422 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Interest-Bearing Domestic Deposit, Brokered | $ 29,000 | $ 0 |
Time Deposits, at or Above FDIC Insurance Limit | $ 65,300 | $ 33,400 |
Note 5 - Deposits - Deposit Bal
Note 5 - Deposits - Deposit Balances by Category (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Non-interest bearing | $ 287,938 | $ 274,083 | |
Interest checking | 286,867 | 287,208 | |
Money market | 215,450 | 217,943 | |
Savings | 154,545 | 163,423 | |
Certificates of deposit (1) | [1] | 273,780 | 266,011 |
Total | $ 1,218,580 | $ 1,208,668 | |
[1]Includes brokered deposits of $29.0 million at September 30, 2022. There were no brokered deposits at December 31, 2021. |
Note 5 - Deposits - Maturities
Note 5 - Deposits - Maturities of Time Deposits (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Year 1 | $ 209,169 |
Year 2 | 37,577 |
Year 3 | 17,358 |
Year 4 | 5,918 |
Year 5 | 2,819 |
Thereafter | 939 |
Time Deposits, Total | $ 273,780 |
Note 6 - Advances From the Fe_3
Note 6 - Advances From the Federal Home Loan Bank (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate | 3.33% | 0.77% |
Long-Term Federal Home Loan Bank Advances, Total | $ 0 | $ 20,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Repayment and Penalties | 0 | 0 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 71,500 | |
First Mortgage Loans [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 351,700 | |
SBA CARES Act Paycheck Protection Program [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 121,800 |
Note 6 - Advances From the Fe_4
Note 6 - Advances From the Federal Home Loan Bank - Advances From the Federal Home Loan Bank (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Short term advances (fixed rates 3.04% to 4.02%) maturing October 2022 to January 2023 | $ 90,000 | |
Long term advances | 0 | $ 20,000 |
Total advances from the Federal Home Loan Bank | $ 90,000 | $ 20,000 |
Note 6 - Advances From the Fe_5
Note 6 - Advances From the Federal Home Loan Bank - Principal Payments on Advances From the Federal Home Loan Bank (Details) $ in Millions | Sep. 30, 2022 USD ($) |
Year 1 | $ 90 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Rolling Year Two | $ 90 |
Note 7 - Borrowings (Details Te
Note 7 - Borrowings (Details Textual) - USD ($) $ in Millions | 60 Months Ended | ||
Jul. 31, 2029 | Sep. 30, 2022 | Jul. 23, 2019 | |
Correspondent Financial Institutions Advances General Debt Obligations Disclosures Amount Of Available Unused Funds | $ 5 | ||
Subordinated Capital Note [Member] | |||
Debt Instrument, Fixed Rate for First Five Years | 5.75% | ||
London Interbank Offered Rate (LIBOR) [Member] | |||
Effective Interest Rate of Index Subordinated Borrowing Is Tied To | 3.75% | ||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Capital Note [Member] | Forecast [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.95% |
Note 7 - Borrowings - Junior Su
Note 7 - Borrowings - Junior Subordinated Debentures (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2021 | ||
Junior subordinated debentures | $ 21,000,000 | $ 21,000,000 | |
Payable to Ascencia Statutory Trust I [Member] | |||
Issuance Date | Feb. 13, 2004 | ||
Junior subordinated debentures | $ 3,000,000 | ||
Maturity Date | [1] | Feb. 13, 2034 | |
Payable to Ascencia Statutory Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate | [2] | 2.85% | |
Payable to Porter Statutory Trust II [Member] | |||
Issuance Date | Feb. 13, 2004 | ||
Junior subordinated debentures | $ 5,000,000 | ||
Maturity Date | [1] | Feb. 13, 2034 | |
Payable to Porter Statutory Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate | [2] | 2.85% | |
Payable to Porter Statutory Trust III [Member] | |||
Issuance Date | Apr. 15, 2004 | ||
Junior subordinated debentures | $ 3,000,000 | ||
Maturity Date | [1] | Apr. 15, 2034 | |
Payable to Porter Statutory Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate | [2] | 2.79% | |
Payable to Porter Statutory Trust IV [Member] | |||
Issuance Date | Dec. 14, 2006 | ||
Junior subordinated debentures | $ 10,000,000 | ||
Maturity Date | [1] | Mar. 01, 2037 | |
Payable to Porter Statutory Trust IV [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest Rate | [2] | 1.67% | |
[1]The debentures are callable at the Company’s option at their principal amount plus accrued interest.[2]As of September 30, 2022, 3-month LIBOR was 3.75%. |
Note 8 - Fair Values Measurem_3
Note 8 - Fair Values Measurement (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2022 | Dec. 31, 2021 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 59,000 | $ 59,000 | $ 65,000 | ||
Impaired Financing Receivable, Related Allowance | 1,000 | 1,000 | 2,000 | ||
Impaired Loans [Member] | |||||
Impaired Financing Receivable, Related Allowance | 1,000 | $ 2,200,000 | $ 2,200,000 | 1,000 | 2,000 |
Impaired Financing Receivable Provision for Loan Losses | 0 | 0 | 1,000 | 0 | |
Impaired Loans [Member] | Measured for Impairment Using Fair Value of Collateral [Member] | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 59,000 | $ 4,500,000 | $ 4,500,000 | $ 59,000 | $ 65,000 |
Note 8 - Fair Values Measurem_4
Note 8 - Fair Values Measurement - Financial Assets Measured at the Fair Value on Recurring and Non-recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Securities available for sale | $ 181,292 | $ 214,213 |
Recorded investment, total | 1,200 | 3,465 |
Fair Value, Recurring [Member] | ||
Securities available for sale | 181,292 | 214,213 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 167,960 | 200,172 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 13,332 | 14,041 |
US Treasury and Government [Member] | ||
Securities available for sale | 21,946 | 26,243 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 21,946 | 26,243 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 21,946 | 26,243 |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | 58 | 63 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | 0 | 0 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | 0 | 0 |
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | One- to Four-family Residential Properties [Member] | ||
Recorded investment, total | 58 | 63 |
Residential Mortgage-Backed Securities [Member] | ||
Securities available for sale | 70,432 | 94,019 |
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 70,432 | 94,019 |
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 70,432 | 94,019 |
Residential Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Collateralized Debt Obligations [Member] | ||
Securities available for sale | 45,988 | 50,149 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 45,988 | 50,149 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 45,988 | 50,149 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Corporate Debt Securities [Member] | ||
Securities available for sale | 42,926 | 43,802 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available for sale | 42,926 | 43,802 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 29,594 | 29,761 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | $ 13,332 | $ 14,041 |
Note 8 - Fair Values Measurem_5
Note 8 - Fair Values Measurement - Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Unobservable Inputs (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Collateralized Debt Obligations [Member] | ||
Balance of recurring Level 3 assets at January 1, 2022 | $ 14,041 | $ 2,388 |
Included in other comprehensive income | (709) | 106 |
Transfers into Level 3 | 0 | |
Balance of recurring Level 3 assets at September 30, 2022 | $ 13,332 | 2,494 |
Included in earnings | 0 | |
Calls | 0 | |
Transfers into Level 3 | 0 | |
Corporate Debt Securities [Member] | ||
Balance of recurring Level 3 assets at January 1, 2022 | 11,916 | |
Included in other comprehensive income | 1,479 | |
Balance of recurring Level 3 assets at September 30, 2022 | 8,860 | |
Included in earnings | 465 | |
Calls | (5,000) | |
Transfers into Level 3 | $ 0 |
Note 8 - Fair Values Measurem_6
Note 8 - Fair Values Measurement - Recurring Level 3 Fair Value Measurements (Details) - Corporate Debt Securities [Member] $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Fair value | $ 8,860 | $ 11,916 | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | ||||
Fair value | $ 13,332 | $ 14,041 | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||||
Debt securities, measurement input | ||||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Additional Asset Defaults [Member] | Minimum [Member] | ||||
Debt securities, measurement input | 224 | 200 | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Additional Asset Defaults [Member] | Maximum [Member] | ||||
Debt securities, measurement input | 377 | 298 | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Additional Asset Defaults [Member] | Weighted Average [Member] | ||||
Debt securities, measurement input | (288) | (235) | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Expected Asset Recoveries [Member] | Minimum [Member] | ||||
Debt securities, measurement input | 80 | 99 | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Expected Asset Recoveries [Member] | Maximum [Member] | ||||
Debt securities, measurement input | 97 | 106 | ||
Fair Value, Recurring [Member] | Valuation Technique, Discounted Cash Flow [Member] | Measurement Input, Expected Asset Recoveries [Member] | Weighted Average [Member] | ||||
Debt securities, measurement input | (89) | (103) |
Note 8 - Fair Values Measurem_7
Note 8 - Fair Values Measurement - Carrying Amount and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-Sale, Total | $ 181,292 | $ 214,213 |
Securities held to maturity | 33,768 | 46,280 |
Subordinated capital notes | 23,791 | 26,149 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 57,370 | 77,603 |
Debt Securities, Available-for-Sale, Total | 181,292 | 214,213 |
Securities held to maturity | 43,350 | 46,460 |
Federal Home Loan Bank stock | 5,176 | 5,116 |
Loans, net | 1,114,914 | 990,309 |
Accrued interest receivable | 4,351 | 3,870 |
Deposits | 1,218,580 | 1,208,668 |
Federal Home Loan Bank advances | 90,000 | 20,000 |
Junior subordinated debentures | 21,000 | 21,000 |
Subordinated capital notes | 25,000 | 25,000 |
Accrued interest payable | 586 | 764 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 57,370 | 77,603 |
Debt Securities, Available-for-Sale, Total | 181,292 | 214,213 |
Loans, net | 1,043,243 | 981,995 |
Accrued interest receivable | 4,351 | 3,870 |
Deposits | 1,214,216 | 1,209,851 |
Federal Home Loan Bank advances | 90,009 | 20,046 |
Junior subordinated debentures | 18,498 | 19,500 |
Accrued interest payable | 586 | 764 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 57,370 | 77,603 |
Debt Securities, Available-for-Sale, Total | 0 | 0 |
Securities held to maturity | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Deposits | 287,938 | 274,083 |
Federal Home Loan Bank advances | 0 | 0 |
Junior subordinated debentures | 0 | 0 |
Subordinated capital notes | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Debt Securities, Available-for-Sale, Total | 167,960 | 200,172 |
Securities held to maturity | 33,768 | 46,280 |
Loans, net | 0 | 0 |
Accrued interest receivable | 1,094 | 1,022 |
Deposits | 926,278 | 935,768 |
Federal Home Loan Bank advances | 90,009 | 20,046 |
Junior subordinated debentures | 0 | 0 |
Subordinated capital notes | 0 | 0 |
Accrued interest payable | 285 | 136 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Debt Securities, Available-for-Sale, Total | 13,332 | 14,041 |
Securities held to maturity | 0 | 0 |
Loans, net | 1,043,243 | 981,995 |
Accrued interest receivable | 3,257 | 2,848 |
Deposits | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Junior subordinated debentures | 18,498 | 19,500 |
Subordinated capital notes | 23,791 | 26,149 |
Accrued interest payable | $ 301 | $ 628 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Jul. 10, 2015 | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 0 | $ 0 | $ 0 | $ 0 | |
Common Stock Ownership Percentage by Individual | 5% | ||||
Common Stock Ownership Percentage | 50% | ||||
Dividend Declared Preferred Stock Purchase Right Per Each Share of Common Stock (in shares) | 1 | ||||
Domestic Tax Authority [Member] | |||||
Operating Loss Carryforwards | 68,600 | $ 68,600 | |||
State and Local Jurisdiction [Member] | |||||
Operating Loss Carryforwards | $ 23,200 | $ 23,200 |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Deferred tax assets: | ||
Net operating loss carry-forward | $ 15,329 | $ 19,335 |
Allowance for loan losses | 3,252 | 2,877 |
Net unrealized loss on securities | 4,711 | 0 |
New market tax credit carry-forward | 208 | 208 |
Nonaccrual loan interest | 328 | 321 |
Accrued expenses | 94 | 138 |
Lease liability | 1,603 | 1,328 |
Other | 179 | 202 |
Deferred Tax Assets, Gross, Total | 25,704 | 24,409 |
Deferred tax liabilities: | ||
FHLB stock dividends | 361 | 415 |
Fixed assets | 120 | 133 |
Deferred loan costs | 165 | 176 |
Net unrealized gain on securities | 0 | 390 |
Lease right-of-use assets | 1,603 | 1,328 |
Net assets from acquisitions | 249 | 108 |
Other | 204 | 276 |
Deferred Tax Liabilities, Gross, Total | 2,702 | 2,826 |
Net deferred tax asset | $ 23,002 | $ 21,583 |
Note 10 - Stock Plans and Sto_3
Note 10 - Stock Plans and Stock Based Compensation (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Nonvested Intrinsic Value1 | $ 1,300,000 | $ 1,300,000 | |||
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) | $ 19.61 | ||||
Share-Based Payment Arrangement, Expense | 212,000 | $ 214,000 | $ 673,000 | $ 515,000 | |
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 53,000 | $ 54,000 | $ 168,000 | $ 129,000 | |
2018 Omnibus Equity Compensation Plan [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 122,203 | 122,203 | |||
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) | $ 19.61 | $ 13.52 | |||
2018 Omnibus Equity Compensation Plan [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 7 years | ||||
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 10 - Stock Plans and Sto_4
Note 10 - Stock Plans and Stock Based Compensation - Unvested Share Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Granted, weighted average grant price (in dollars per share) | $ 19.61 | |
2018 Omnibus Equity Compensation Plan [Member] | ||
Outstanding, beginning (in shares) | 111,536 | 47,438 |
Outstanding, weighted average grant price (in dollars per share) | $ 13.73 | $ 15.34 |
Granted (in shares) | 64,600 | 110,024 |
Granted, weighted average grant price (in dollars per share) | $ 19.61 | $ 13.52 |
Vested (in shares) | (30,827) | (37,590) |
Vested, weighted average grant price (in dollars per share) | $ 16.06 | $ 15.13 |
Forfeited (in shares) | (10,109) | (8,336) |
Forfeited, weighted average grant price (in dollars per share) | $ 15.20 | $ 13.66 |
Outstanding, ending (in shares) | 135,200 | 111,536 |
Outstanding, weighted average grant price (in dollars per share) | $ 15.90 | $ 13.73 |
Note 10 - Stock Plans and Sto_5
Note 10 - Stock Plans and Stock Based Compensation - Unrecognized Stock Based Compensation Expense Related to Unvested Shares (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
October 2022 – December 2022 | $ 211 |
2023 | 467 |
2024 | 339 |
2025 | 197 |
2026 | 189 |
Thereafter | $ 175 |
Note 11 - Earnings Per Share (D
Note 11 - Earnings Per Share (Details Textual) - shares shares in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 | 0 |
Note 11 - Earnings Per Share -
Note 11 - Earnings Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income | $ 5,813 | $ 4,036 | $ 3,579 | $ 4,341 | $ 3,901 | $ 3,222 | $ 13,428 | $ 11,464 |
Earnings allocated to unvested shares | 104 | 76 | 221 | 169 | ||||
Net income available to common shareholders, basic and diluted | $ 5,709 | $ 4,265 | $ 13,207 | $ 11,295 | ||||
Weighted average common shares including unvested common shares outstanding (in shares) | 7,639,492 | 7,602,686 | 7,628,677 | 7,591,800 | ||||
Weighted average shares outstanding (in shares) | 7,503,209 | 7,469,613 | 7,502,941 | 7,480,010 | ||||
Basic and diluted income per common share (in dollars per share) | $ 0.76 | $ 0.57 | $ 1.76 | $ 1.51 | ||||
Unvested Shares [Member] | ||||||||
Weighted average shares outstanding (in shares) | 136,283 | 133,073 | 125,736 | 111,790 |
Note 12 - Regulatory Capital _3
Note 12 - Regulatory Capital Matters (Details Textual) $ in Millions | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier One Risk-Based Capital, Actual | 0.07 |
Banking Regulation, Capital Conservation Buffer, Tier One Risk-Based Capital, Actual | 0.085 |
Banking Regulation, Capital Conservation Buffer, Tier One Risk-Based Capital, Actual | 0.105 |
Dividends, Total | $ 19.6 |
Payments of Dividends, Total | $ 2.4 |
Note 12 - Regulatory Capital _4
Note 12 - Regulatory Capital Matters - Ratios and Amounts of Common Equity, Capital, and Total Capital to Risk-adjusted Assets (Details) $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Total risk-based capital to risk-weighted assets, actual amount | $ 179,662 | $ 160,700 |
Total risk-based capital to risk-weighted assets, actual ratio | 0.1353 | 0.1331 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, amount | $ 106,196 | $ 96,591 |
Total risk-based capital to risk-weighted assets, for capital adequacy purposes, ratio | 0.0800 | 0.0800 |
Total risk-based capital to risk-weighted assets, for minimum requirements to be well capitalized, amount | $ 132,745 | $ 120,738 |
Total risk-based capital to risk-weighted assets, for minimum requirements to be well capitalized, ratio | 0.1000 | 0.1000 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), actual amount | $ 166,631 | $ 149,169 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), actual ratio | 0.1255 | 0.1235 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for capital adequacy purposes, amount | $ 59,735 | $ 54,332 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for capital adequacy purposes, ratio | 0.0450 | 0.0450 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for minimum requirements to be well capitalized, amount | $ 86,284 | $ 78,480 |
Total common equity Tier 1 risk-based capital (to risk-weighted assets), for minimum requirements to be well capitalized, ratio | 0.0650 | 0.0650 |
Tier I capital to risk-weighted assets, actual amount | $ 166,631 | $ 149,169 |
Tier I capital to risk-weighted assets, actual ratio | 0.1255 | 0.1235 |
Tier I capital to risk-weighted assets, for capital adequacy purposes, amount | $ 79,647 | $ 72,443 |
Tier I capital to risk-weighted assets, for capital adequacy purposes, ratio | 0.0600 | 0.0600 |
Tier I capital to risk-weighted assets, for minimum requirements to be well capitalized, amount | $ 106,196 | $ 96,591 |
Tier I capital to risk-weighted assets, for minimum requirements to be well capitalized, ratio | 0.0800 | 0.0800 |
Tier 1 capital (to average assets), actual amount | $ 166,631 | $ 149,169 |
Tier 1 capital (to average assets), actual ratio | 0.1156 | 0.1084 |
Tier 1 capital (to average assets), for capital adequacy purposes, amount | $ 57,662 | $ 55,057 |
Tier 1 capital (to average assets), for capital adequacy purposes, ratio | 0.0400 | 0.0400 |
Tier 1 capital (to average assets), for minimum requirements to be well capitalized, amount | $ 72,078 | $ 68,822 |
Tier 1 capital (to average assets), for minimum requirements to be well capitalized, ratio | 0.0500 | 0.0500 |
Note 13 - Off Balance Sheet R_3
Note 13 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Commitments Period (Year) | 1 year | |
Risk Participation Agreement [Member] | ||
Derivative, Notional Amount | $ 12,100,000 | $ 12,100,000 |
Fair Value Disclosure, off-Balance-Sheet Risks, Amount, Liability | 5,000 | $ 67,000 |
Standby Letters of Credit [Member] | ||
Long-term Line of Credit, Total | $ 0 | |
Home Equity Loans [Member] | ||
Commitments Period (Year) | 10 years |
Note 13 - Off Balance Sheet R_4
Note 13 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities - Contractual Amounts of Financial Instruments With Off Balance Sheet Risk (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fixed Rate [Member] | Commitments to Make Loans [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | $ 56,136 | $ 85,294 |
Fixed Rate [Member] | Unused lines of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 9,311 | 12,828 |
Fixed Rate [Member] | Standby Letters of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 365 | 566 |
Variable Rate [Member] | Commitments to Make Loans [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 41,637 | 60,683 |
Variable Rate [Member] | Unused lines of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | 114,960 | 108,635 |
Variable Rate [Member] | Standby Letters of Credit [Member] | ||
Financial Instrument off Balance Sheet Risk, Amount | $ 346 | $ 326 |
Note 14 - Revenue From Contra_2
Note 14 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Other Transaction Based Revenue [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 195,000 | $ 162,000 | $ 512,000 | $ 460,000 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details Textual) - Subsequent Event [Member] - Merger Agreement with Peoples Bancorp, Inc. (“Peoples”) [Member] $ / shares in Thousands, $ in Millions | Oct. 24, 2022 USD ($) $ / shares |
Business Combination, Conversion Ratio | 0.90 |
Business Combination, Conversion Par Value (in dollars per share) | $ / shares | $ 0 |
Business Combination, Termination Fees | $ | $ 8.3 |