Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 13, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001391933 | |
Entity Registrant Name | QUAINT OAK BANCORP INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 000-52694 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 35-2293957 | |
Entity Address, Address Line One | 501 Knowles Avenue | |
Entity Address, City or Town | Southampton | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 18966 | |
City Area Code | 215 | |
Local Phone Number | 364-4059 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 2,620,203 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Due from banks, non-interest-bearing | $ 814 | $ 767 |
Due from banks, interest-bearing | 145,507 | 57,239 |
Cash and cash equivalents | 146,321 | 58,006 |
Investment in interest-earning time deposits | 912 | 1,912 |
Investment securities available for sale | 2,201 | 2,341 |
Loans held for sale | 7,052 | 36,448 |
Loans receivable, net of allowance for credit losses (2024 $7,504; 2023 $6,758) | 600,578 | 617,701 |
Accrued interest receivable | 4,231 | 3,502 |
Investment in Federal Home Loan Bank stock, at cost | 1,191 | 1,474 |
Bank-owned life insurance | 4,357 | 4,329 |
Premises and equipment, net | 2,861 | 2,656 |
Goodwill | 515 | 515 |
Other intangible, net of accumulated amortization | 113 | 125 |
Prepaid expenses and other assets | 5,172 | 5,134 |
Assets from discontinued operations | 0 | 19,975 |
Total Assets | 775,504 | 754,118 |
Liabilities | ||
Non-interest bearing | 112,791 | 92,215 |
Interest-bearing | 560,583 | 539,484 |
Total deposits | 673,374 | 631,699 |
Federal Home Loan Bank long-term borrowings | 22,955 | 29,022 |
Subordinated debt | 22,000 | 21,957 |
Accrued interest payable | 627 | 541 |
Advances from borrowers for taxes and insurance | 3,161 | 3,730 |
Accrued expenses and other liabilities | 3,243 | 2,438 |
Liabilities from continued operations | 0 | 13,166 |
Total Liabilities | 725,360 | 702,553 |
Stockholders’ Equity | ||
Preferred stock – $0.01 par value, 1,000,000 shares authorized; none issued or outstanding | 0 | 0 |
Common stock – $0.01 par value; 9,000,000 shares authorized; 2,980,493 and 2,895,675 issued as of March 31, 2024 and December 31, 2023, respectively; 2,493,975 and 2,407,048 outstanding at March 31, 2024 and December 31, 2023, respectively | 30 | 29 |
Additional paid-in capital | 21,370 | 20,299 |
Treasury stock, at cost: 486,518 and 488,627 shares at March 31, 2024 and December 31, 2023, respectively | (3,554) | (3,568) |
Accumulated other comprehensive loss | (4) | (10) |
Retained earnings | 32,302 | 31,741 |
Total Stockholders' Equity | 50,144 | 48,491 |
Noncontrolling interest from discontinued operations | 0 | 3,074 |
Total Stockholders’ Equity | 50,144 | 51,565 |
Total Liabilities and Stockholders’ Equity | $ 775,504 | $ 754,118 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Allowance for Credit Loss | $ 7,504 | $ 6,758 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 9,000,000 | 9,000,000 |
Common stock, shares issued (in shares) | 2,980,493 | 2,895,675 |
Common stock, shares outstanding (in shares) | 2,493,975 | 2,407,048 |
Treasury stock, at cost, shares (in shares) | 486,518 | 488,627 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Interest Income | |||
Interest on loans, including fees | $ 11,232,000 | $ 10,685,000 | |
Interest and dividends on time deposits, investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock | 890,000 | 224,000 | |
Total Interest Income | 12,122,000 | 10,909,000 | |
Interest Expense | |||
Interest on deposits | 5,986,000 | 3,510,000 | |
Interest on Federal Home Loan Bank short-term borrowings | 0 | 1,300,000 | |
Interest on Federal Home Loan Bank long-term borrowings | 242,000 | 277,000 | |
Interest on Federal Reserve Bank long-term borrowings | 0 | 10,000 | |
Interest on subordinated debt | 484,000 | 216,000 | |
Total Interest Expense | 6,712,000 | 5,313,000 | |
Net Interest Income | 5,410,000 | 5,596,000 | |
Provision for Credit Losses – Loans | 1,084,000 | [1] | 211,000 |
Provision for Credit Losses – Unfunded Commitments | 52,000 | 181,000 | |
Total Provision for Credit Losses | 1,136,000 | 392,000 | |
Net Interest Income after Provision for Credit Losses | 4,274,000 | 5,204,000 | |
Non-Interest Income | |||
Insurance commissions | 152,000 | 136,000 | |
Income from bank-owned life insurance | 28,000 | 24,000 | |
Gain on sale of Oakmont Capital, LLC | 1,378,000 | 0 | |
Net gain on sale of loans | 935,000 | 391,000 | |
Gain on the sale of SBA loans | 28,000 | 50,000 | |
Total Non-Interest Income | 2,960,000 | 1,003,000 | |
Non-Interest Expense | |||
Salaries and employee benefits | 3,663,000 | 3,576,000 | |
Directors' fees and expenses | 51,000 | 105,000 | |
Occupancy and equipment | 250,000 | 342,000 | |
Data processing | 263,000 | 217,000 | |
Professional fees | 141,000 | 148,000 | |
FDIC deposit insurance assessment | 173,000 | 232,000 | |
Advertising | 86,000 | 83,000 | |
Amortization of other intangible | 12,000 | 12,000 | |
Other | 486,000 | 593,000 | |
Total Non-Interest Expense | 5,125,000 | 5,308,000 | |
Income from continuing operations before income taxes | 2,109,000 | 899,000 | |
Income Taxes | 650,000 | 251,000 | |
Net income from continuing operations | 1,459,000 | 648,000 | |
Loss from discontinued operations | (814,000) | (118,000) | |
Income tax benefit | (228,000) | (33,000) | |
Net loss from discontinued operations | (586,000) | (85,000) | |
Net Income | $ 873,000 | $ 563,000 | |
Basic earnings per share from continuing operations (in dollars per share) | $ 0.6 | $ 0.3 | |
Basic earnings per share from discontinued operations (in dollars per share) | (0.24) | (0.04) | |
Earnings per share – basic (in dollars per share) | $ 0.36 | $ 0.26 | |
Average shares outstanding – basic (in shares) | 2,450,814 | 2,182,597 | |
Diluted earnings per share from continuing operations (in dollars per share) | $ 0.6 | $ 0.29 | |
Diluted earnings per share from discontinued operations (in dollars per share) | (0.24) | (0.04) | |
Earnings per share - diluted (in dollars per share) | $ 0.36 | $ 0.25 | |
Average shares outstanding - diluted (in shares) | 2,450,814 | 2,272,530 | |
Mortgage Banking and Abstract Fees [Member] | |||
Non-Interest Income | |||
Non-interest revenue | $ 206,000 | $ 137,000 | |
Real Estate Sales Commissions [Member] | |||
Non-Interest Income | |||
Non-interest revenue | 4,000 | 24,000 | |
Other Fees and Services Fees [Member] | |||
Non-Interest Income | |||
Non-interest revenue | 227,000 | 98,000 | |
Loan Servicing Fee [Member] | |||
Non-Interest Income | |||
Non-interest revenue | $ 2,000 | $ 143,000 | |
[1]Provision included in the table only includes the portion related to loans receivable. For the three months ended December 31, 2024, the total allowance for credit losses of $1.1 million includes an allowance of $52,000 for off balance sheet credit exposure, which is reflected in other liabilities on the Consolidated Balance Sheet. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net Income from Continuing Operations | $ 1,459 | $ 648 |
Other Comprehensive Income: | ||
Unrealized gains on investment securities available for sale | 8 | 13 |
Income tax effect | (2) | (3) |
Other comprehensive income | 6 | 10 |
Total Comprehensive Income | 1,465 | 658 |
Comprehensive Loss from Discontinued Operations | (586) | (85) |
Comprehensive Income Attributable to Quaint Oak Bancorp, Inc. | $ 879 | $ 573 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock Outstanding [Member] The 401(k) Plan [Member] | Common Stock Outstanding [Member] The 2008 Stock Option Plan [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] The 401(k) Plan [Member] | Additional Paid-in Capital [Member] The 2008 Stock Option Plan [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] The 401(k) Plan [Member] | Treasury Stock, Common [Member] The 2008 Stock Option Plan [Member] | Treasury Stock, Common [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | The 401(k) Plan [Member] | The 2008 Stock Option Plan [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 2,167,613 | ||||||||||||||
Reissuance of treasury stock (in shares) | 1,819 | 23,000 | |||||||||||||
Reissuance of treasury stock | $ 29,000 | $ 28,000 | $ 11,000 | $ 93,000 | $ 40,000 | $ 121,000 | |||||||||
Stock based compensation expense | $ 42,000 | $ 42,000 | |||||||||||||
Cash dividends declared, per share | $ (283,000) | (283,000) | |||||||||||||
Net income | 563,000 | ||||||||||||||
Other comprehensive income | $ 10,000 | 10,000 | |||||||||||||
Balance (in shares) at Mar. 31, 2023 | 2,192,432 | ||||||||||||||
Balance at Dec. 31, 2022 | $ 28,000 | 17,906,000 | $ (3,992,000) | (24,000) | 30,875,000 | $ 4,289,000 | 49,082,000 | ||||||||
Noncontrolling interest distribution | (40,000) | (40,000) | |||||||||||||
Net income (loss) | 563,000 | (114,000) | 449,000 | ||||||||||||
Balance at Mar. 31, 2023 | $ 28,000 | 18,005,000 | (3,888,000) | (14,000) | 31,155,000 | $ 4,135,000 | $ 49,421,000 | ||||||||
Balance (in shares) at Dec. 31, 2023 | 2,407,048 | 2,407,048 | |||||||||||||
Balance at the beginning of the period at Dec. 31, 2023 | $ 29,000 | 20,299,000 | (3,568,000) | (10,000) | 31,741,000 | $ 48,491,000 | |||||||||
Issued from authorized and unallocated (in shares) | 84,818 | ||||||||||||||
Issued from authorized and unallocated | $ 1,000 | 999,000 | 1,000,000 | ||||||||||||
Reissuance of treasury stock (in shares) | 2,109 | ||||||||||||||
Reissuance of treasury stock | $ 11,000 | $ 14,000 | $ 25,000 | ||||||||||||
Stock based compensation expense | 61,000 | 61,000 | |||||||||||||
Cash dividends declared, per share | (312,000) | (312,000) | |||||||||||||
Net income | 873,000 | 873,000 | |||||||||||||
Other comprehensive income | 6,000 | $ 6,000 | |||||||||||||
Balance (in shares) at Mar. 31, 2024 | 2,493,975 | 2,493,975 | |||||||||||||
Balance at the end of the period at Mar. 31, 2024 | $ 30,000 | $ 21,370,000 | $ (3,554,000) | $ (4,000) | $ 32,302,000 | $ 50,144,000 | |||||||||
Balance at Dec. 31, 2023 | 51,565,000 | ||||||||||||||
Balance at Mar. 31, 2024 | $ 50,144,000 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash dividends declared, per share (in dollars per share) | $ 0.13 | $ 0.13 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |||
Cash Flows from Operating Activities | |||||
Net income from continuing operations | $ 1,459,000 | $ 648,000 | |||
Net loss from discontinued operations | (586,000) | (85,000) | |||
Net Income Attributable to Quaint Oak Bancorp, Inc. | 873,000 | 563,000 | |||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||
Provision for credit losses, total | 1,136,000 | 392,000 | |||
Provision(1) | 1,084,000 | [1] | 211,000 | $ (45,000) | [2] |
Depreciation expense | 133,000 | 99,000 | |||
Amortization, net | 96,000 | 40,000 | |||
Accretion of deferred loan fees and costs, net | (138,000) | (279,000) | |||
Stock-based compensation expense | 61,000 | 42,000 | |||
Net gain on loans held for sale | (935,000) | (391,000) | |||
Loans held for sale-originations | (25,793,000) | (120,210,000) | |||
Loans held for sale-proceeds | 23,208,000 | 121,533,000 | |||
Transfer of loans from Oakmont Capital Holdings, LLC | 4,388,000 | 0 | |||
Gain on the sale of SBA loans | (28,000) | (50,000) | |||
Gain on the sale of Oakmont Capital Holdings, LLC | (1,378,000) | 0 | |||
Increase in the cash surrender value of bank-owned life insurance | (28,000) | (24,000) | |||
Changes in assets and liabilities which provided (used) cash: | |||||
Accrued interest receivable | (729,000) | (195,000) | |||
Prepaid expenses and other assets | (80,000) | 329,000 | |||
Accrued interest payable | 86,000 | 90,000 | |||
Accrued expenses and other liabilities | 804,000 | 24,000 | |||
Net Cash Provided by Operating Activities of Continuing Operations | 1,676,000 | 1,782,000 | |||
Net Cash Provided by (Used in) Operating Activities of Discontinued Operations | 29,340,000 | (1,666,000) | |||
Net Cash Provided by Operating Activities | 31,016,000 | 116,000 | |||
Cash Flows from Investing Activities | |||||
Purchase of interest-earning time deposits | 0 | (619,000) | |||
Redemption of interest-earning time deposits | 1,000,000 | 1,790,000 | |||
Principal repayments of investment securities available for sale | 148,000 | 146,000 | |||
Net increase (decrease) in loans receivable | 16,153,000 | (12,854,000) | |||
Sale of Oakmont Capital Holdings, LLC | 4,300,000 | 0 | |||
Purchase of Federal Home Loan Bank stock | 0 | (740,000) | |||
Redemption of Federal Home Loan Bank stock | 283,000 | 600,000 | |||
Purchase of premises and equipment | (337,000) | (92,000) | |||
Net Cash Provided by (Used in) Investing Activities | 21,547,000 | (11,769,000) | |||
Net Cash Provided by Investing Activities of Discontinued Operations | 0 | 1,846,000 | |||
Net Cash Provided by (Used in) Investing Activities | 21,547,000 | (9,923,000) | |||
Cash Flows from Financing Activities | |||||
Net increase (decrease) in demand deposits, money markets, and savings accounts | 32,148,000 | (11,477,000) | |||
Net increase in certificate accounts | 9,527,000 | 16,740,000 | |||
Decrease in advances from borrowers for taxes and insurance | (569,000) | (991,000) | |||
Repayments of Federal Home Loan Bank short-term borrowings | (6,067,000) | (13,500,000) | |||
Proceeds from Federal Home Loan Bank short-term borrowings | 0 | 33,500,000 | |||
Repayments of Federal Home Loan Bank long-term borrowings | 0 | (20,000,000) | |||
Repayments of Federal Reserve Bank short-term borrowings | 0 | (49,700,000) | |||
Proceeds from Federal Reserve Bank short-term borrowings | 0 | 42,700,000 | |||
Net proceeds from subordinated debt | 0 | 13,743,000 | |||
Dividends paid | (312,000) | (283,000) | |||
Proceeds from the reissuance of treasury stock under 401(k) plan | 25,000 | 40,000 | |||
Proceeds from shares issued from authorized and unallocated | 1,000,000 | 0 | |||
Proceeds from the exercise of stock options | 0 | 121,000 | |||
Net Cash Provided by Financing Activities from Continuing Operations | 35,752,000 | 10,893,000 | |||
Net Increase in Cash and Cash Equivalents | 88,315,000 | 1,068,000 | |||
Cash and Cash Equivalents – Beginning of Year | 58,006,000 | 4,433,000 | 4,433,000 | ||
Cash and Cash Equivalents – End of Year | 146,321,000 | 5,501,000 | $ 58,006,000 | ||
Supplementary Disclosure of Cash Flow and Non-Cash Information: | |||||
Cash payments for interest | 6,627,000 | 5,329,000 | |||
Cash payments for income taxes | 210,000 | 191,000 | |||
Initial recognition of operating lease right-of use assets | 0 | 1,563,000 | |||
Initial recognition of operating lease obligations | $ 0 | $ 1,563,000 | |||
[1]Provision included in the table only includes the portion related to loans receivable. For the three months ended December 31, 2024, the total allowance for credit losses of $1.1 million includes an allowance of $52,000 for off balance sheet credit exposure, which is reflected in other liabilities on the Consolidated Balance Sheet.[2]Provision included in the table only includes the portion related to loans receivable. For the year ended December 31, 2023, the total recovery of credit losses of $157,000 includes a recovery of $202,000 for off balance sheet credit exposure, which is reflected in other liabilities on the Consolidated Balance Sheet. |
Note 1 - Financial Statement Pr
Note 1 - Financial Statement Presentation and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1 Financial Statement Presentation and Significant Accounting Policies Basis of Financial Presentation. March 31, 2024, July 2009. March 31, 2024, February, 2019, July 2012 August 2016 October 2021 January 4, 2021, second March 29, 2024, The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Pursuant to the Bank’s election under Section 10 three The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP) for interim information and with the instructions to Form 10 not The foregoing consolidated financial statements are unaudited; but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation thereof. The balances as of December 31, 2023 2023 10 three March 31, 2024 not may December 31, 2024. Use of Estimates in the Preparation of Financial Statements. Critical Accounting Policies. March 31, 2024 10 Accounting Pronouncements Not November 2023, Accounting Standards Update ("ASU") ASU 2023 07, 280 December 15, 2023, December 15, 2024. In December 2023, ASU 2023 09, 740 December 15, 2024. In March 2024, 2024 01, Compensation Stock Compensation (Topic 718 718 December 15, 2024, December 15, 2025, In March 2024, 2024 02, Codification Improvements — Amendments to Remove References to the Concepts Statements not not 2024 02 December 15, 2024. December 15, 2025. Reclassifications. 2023 2024 not no |
Note 2 - Discontinued Operation
Note 2 - Discontinued Operations | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 2 Discontinued Operations On March 29, 2024, 205 20. No March 31, 2024. December 31, 2023 ( At December 31, 2023 (Unaudited) Assets from Discontinued Operations Cash and cash equivalents $ 4,121 Loans held for sale 9,580 Premises and equipment, net 277 Goodwill 2,058 Prepaid expenses and other assets 3,939 Total Assets from Discontinued Operations $ 19,975 Liabilities and Stockholders Equity from Discontinued Operations Liabilities from Discontinued Operations Other short-term borrowings $ 5,549 Accrued interest payable 565 Accrued expenses and other liabilities 7,052 Total Liabilities from Discontinued Operations 13,166 Total Stockholders Equity from Discontinued Operations 6,809 Total Liabilities and Stockholders Equity from Discontinued Operations $ 19,975 The following presents operating results of the discontinued operations OCH for the three March 31, 2024 March 31, 2023 ( For the Three Months Ended March 31, 2024 2023 (Unaudited) Interest and Dividend Income Interest on loans, including fees $ 70 $ 81 Interest and dividends on time deposits, investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock - - Total Interest and Dividend Income - 81 Interest Expense Interest on other borrowings 295 368 Total Interest Expense 295 368 Net Interest Income (225 ) (287 ) Non-Interest Income Mortgage banking, equipment lending and title abstract fees 404 669 Other fees and services charges 197 133 Net loan servicing income 726 1,086 Net gain on sale of loans 366 489 Total Non-Interest Income 1,693 2,377 Non-Interest Expense Salaries and employee benefits 1,681 1,766 Occupancy and equipment 219 185 Professional fees 31 27 Advertising 146 216 Other 987 128 Total Non-Interest Expense 3,064 2,322 Total net loss from discontinued operations $ (1,596 ) $ (232 ) Loss attributable to non-controlling interest (782 ) (114 ) Net loss from discontinued operations $ (814 ) $ (118 ) |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 3 Earnings Per Share Earnings per share (“EPS”) consists of two not three March 31, 2024, three March 31, 2023, The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computations. For the Three Months Ended March 31, 2024 2023 Net Income Attributable to Quaint Oak Bancorp, Inc. $ 873,000 $ 563,000 Weighted average shares outstanding – basic 2,450,814 2,182,597 Effect of dilutive common stock equivalents - 89,933 Adjusted weighted average shares outstanding – diluted 2,450,814 2,272,530 Basic earnings per share from continuing operations $ 0.60 $ 0.30 Basic earnings per share from discontinued operations $ (0.24 ) $ (0.04 ) Basic earnings per share, net $ 0.36 $ 0.26 Diluted earnings per share from continuing operations $ 0.60 $ 0.29 Diluted earnings per share from discontinued operations $ (0.24 ) $ (0.04 ) Diluted earnings per share, net $ 0.36 $ 0.25 |
Note 4 - Accumulated Other Comp
Note 4 - Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 4 Accumulated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss by component, net of tax, for the three March 31, 2024 2023 Unrealized Gains (Losses) on Investment Securities Available for Sale (1) For the Three Months Ended March 31, 2024 2023 Balance at the beginning of the period $ (10 ) $ (24 ) Other comprehensive income 6 10 Balance at the end of the period $ (4 ) $ (14 ) _________________ ( 1 All amounts are net of tax. Amounts in parentheses indicate debits. There were no three March 31, 2024 2023. |
Note 5 - Investment Securities
Note 5 - Investment Securities Available for Sale | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5 Investment Securities Available for Sale The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale at March 31, 2024 December 31, 2023 March 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale: Mortgage-backed securities: Government National Mortgage Association securities $ 2,134 $ - $ (5 ) $ 2,129 Federal National Mortgage Association securities 72 - - 72 Total available-for-sale-securities $ 2,206 $ - $ (5 ) $ 2,201 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale: Mortgage-backed securities: Government National Mortgage Association securities $ 2,281 $ - $ (13 ) $ 2,268 Federal National Mortgage Association securities 73 - - 73 Total available-for-sale-securities $ 2,354 $ - $ (13 ) $ 2,341 The amortized cost and fair value of mortgage-backed securities at March 31, 2024, may Available for Sale Amortized Cost Fair Value Due after ten years $ 2,206 $ 2,201 Total $ 2,206 $ 2,201 The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2024 December 31, 2023 ( March 31, 2024 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Fair Value Gross Fair Value Gross Government National Mortgage Association securities 11 $ 2,129 $ (5 ) $ - $ - $ 2,129 $ (5 ) December 31, 2023 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Fair Value Gross Fair Value Gross Government National Mortgage Association securities 11 $ 2,268 $ (13 ) $ - $ - $ 2,268 $ (13 ) The Company’s mortgage-backed securities have contractual terms that generally do not not not not not not March 31, 2024 2023. There were no three March 31, 2024 2023. three March 31, 2024 2023. |
Note 6 - Loans Receivable, Net
Note 6 - Loans Receivable, Net and Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 6 The composition of net loans receivable is as follows (in thousands): March 31, 2024 December 31, 2023 Real estate loans: One-to-four family residential: Owner occupied $ 24,249 $ 22,885 Non-owner occupied 39,410 40,455 Total one-to-four family residential 63,659 63,340 Multi-family (five or more) residential 45,734 46,680 Commercial real estate 333,940 331,174 Construction 34,933 35,585 Home equity 6,166 6,162 Total real estate loans 484,432 482,941 Commercial business 124,107 142,220 Other consumer 66 69 Total Loans 608,605 625,230 Deferred loan fees and costs (523 ) (771 ) Allowance for credit losses (7,504 ) (6,758 ) Net Loans $ 600,578 $ 617,701 The following table summarizes designated internal risk categories by portfolio segment and loan class, by origination year, as of March 31, 2024 ( Term Loans Amortized Cost by Origination Year As of March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Total One-to-four family residential owner occupied Risk rating Pass $ 2,308 $ 5,731 $ 8,230 $ 3,810 $ 1,684 $ 2,486 $ - $ 24,249 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential owner occupied $ 2,308 $ 5,731 $ 8,230 $ 3,810 $ 1,684 $ 2,486 $ - $ 24,249 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - One-to-four family residential non- owner occupied Risk rating Pass $ 125 $ 2,188 $ 7,109 $ 12,263 $ 2,976 $ 14,749 $ - $ 39,410 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential non-owner occupied $ 125 $ 2,188 $ 7,109 $ 12,263 $ 2,976 $ 14,749 $ - $ 39,410 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Term Loans Amortized Cost by Origination Year As of March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Total Multi-family residential Risk rating Pass $ 126 $ 1,556 $ 14,752 $ 13,407 $ 4,452 $ 11,091 $ - $ 45,384 Special mention - - - 350 - - - 350 Substandard - - - - - - - - Doubtful - - - - - - - - Total multi-family residential $ 126 $ 1,556 $ 14,752 $ 13,757 $ 4,452 $ 11,091 $ - $ 45,734 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate Risk rating Pass $ 10,976 $ 58,824 $ 119,668 $ 60,628 $ 26,406 $ 54,126 $ 2,742 $ 333,370 Special mention - - 570 - - - - 570 Substandard - - - - - - - - Doubtful - - - - - - - - Total commercial real estate $ 10,976 $ 58,824 $ 120,238 $ 60,628 $ 26,406 $ 54,126 $ 2,742 $ 333,940 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Construction Risk rating Pass $ 2,231 $ 13,988 $ 8,915 $ 7,651 $ - $ - $ - $ 32,785 Special mention - - - - - 2,148 - 2,148 Substandard - - - - - - - - Doubtful - - - - - - - - Total construction $ 2,231 $ 13,988 $ 8,915 $ 7,651 $ - $ 2,148 $ - $ 34,933 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity Risk rating Pass $ 204 $ 900 $ 33 $ 120 $ - $ 196 $ 4,713 $ 6,166 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total home equity $ 204 $ 900 $ 33 $ 120 $ - $ 196 $ 4,713 $ 6,166 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial business Risk rating Pass $ 7,838 $ 5,672 $ 64,670 $ 24,299 $ 4,212 $ 2,288 $ 11,029 $ 120,008 Special mention - - - 398 - - 39 437 Substandard - - 16 2,048 33 1,565 - 3,662 Doubtful - - - - - - - - Total commercial business $ 7,838 $ 5,672 $ 64,686 $ 26,745 $ 4,246 $ 3,853 $ 11,068 $ 124,107 Current period gross charge-offs $ - $ - $ 318 $ 20 $ - $ - $ - $ 338 Other consumer Risk rating Pass $ 66 $ - $ - $ - $ - $ - $ - $ 66 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total other consumer $ 66 $ - $ - $ - $ - $ - $ - $ 66 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Total Risk rating Pass $ 23,874 $ 88,859 $ 223,377 $ 122,178 $ 39,730 $ 84,936 $ 18,484 $ 601,438 Special mention - - 570 748 - 2,148 39 3,505 Substandard - - 16 2,048 33 1,565 - 3,662 Doubtful - - - - - - - - Total $ 23,874 $ 88,859 $ 223,963 $ 124,974 $ 39,763 $ 88,649 $ 18,523 $ 608,605 Current period gross charge-offs $ - $ - $ 318 $ 20 $ - $ - $ - $ 338 The following table summarizes designated internal risk categories by portfolio segment and loan class, by origination year, as of December 31, 2023 ( Term Loans Amortized Cost by Origination Year As of December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total One-to-four family residential owner occupied Risk rating Pass $ 6,044 $ 8,574 $ 3,840 $ 1,850 $ 571 $ 2,006 $ - $ 22,885 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential owner occupied $ 6,044 $ 8,574 $ 3,840 $ 1,850 $ 571 $ 2,006 $ - $ 22,885 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - One-to-four family residential non- owner occupied Risk rating Pass $ 2,195 $ 7,153 $ 12,362 $ 3,268 $ 1,026 $ 14,451 $ - $ 40,455 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential non-owner occupied $ 2,195 $ 7,153 $ 12,362 $ 3,268 $ 1,026 $ 14,451 - $ 40,455 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Multi-family residential Risk rating Pass $ 1,566 $ 15,542 $ 13,853 $ 4,483 $ 2,386 $ 8,850 $ - $ 46,680 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total multi-family residential $ 1,566 $ 15,542 $ 13,853 $ 4,483 $ 2,386 $ 8,850 $ - $ 46,680 Current period gross charge-offs $ - $ - $ - $ - $ - $ 2 $ - $ 2 Commercial real estate Risk rating Pass $ 61,338 $ 121,006 $ 64,684 $ 26,631 $ 16,571 $ 38,897 $ 1,996 $ 331,123 Special mention - - - - - - - - Substandard - - - - 51 - - 51 Doubtful - - - - - - - - Total commercial real estate $ 61,338 $ 121,006 $ 64,684 $ 26,631 $ 16,622 $ 38,897 $ 1,996 $ 331,174 Current period gross charge-offs $ - $ - $ - $ 134 $ - $ - $ - $ 134 Construction Risk rating Pass $ 14,777 $ 11,244 $ 7,417 $ - $ - $ - $ - $ 33,438 Special mention - - - - - - - - Substandard - - - - - 2,147 - 2,147 Doubtful - - - - - - - - Total construction $ 14,777 $ 11,244 $ 7,417 $ - $ - $ 2,147 $ - $ 35,585 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Term Loans Amortized Cost by Origination Year As of December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Home equity Risk rating Pass $ 1,062 $ 35 $ 122 $ - $ - $ 205 $ 4,738 $ 6,162 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total home equity $ 1,062 $ 35 $ 122 $ - $ - $ 205 $ 4,738 $ 6,162 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial business Risk rating Pass $ 20,793 $ 69,913 $ 27,022 $ 4,324 $ 1,955 $ 1,109 $ 13,593 $ 138,709 Special mention - - - - - - - - Substandard - - 1,946 - 1,242 323 - 3,511 Doubtful - - - - - - - - Total commercial business $ 20,793 $ 69,913 $ 28,967 $ 4,324 $ 3,197 $ 1,433 $ 13,593 $ 142,220 Current period gross charge-offs $ - $ 29 $ 613 $ 97 $ - $ - $ - $ 739 Other consumer Risk rating Pass $ 69 $ - $ - $ - $ - $ - $ - $ 69 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total other consumer $ 69 $ - $ - $ - $ - $ - $ - $ 69 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Total Pass $ 93,492 $ 233,467 $ 129,300 $ 40,556 $ 22,509 $ 65,518 $ 20,327 $ 619,521 Special mention - - - - - - - - Substandard - - 1,946 - 1,293 2,470 - 5,709 Doubtful - - - - - - - - Total $ 93,492 $ 233,467 $ 131,246 $ 40,556 $ 23,802 $ 67,988 $ 20,327 $ 625,230 Current period gross charge-offs $ - $ 29 $ 613 $ 231 $ - $ 2 $ - $ 875 The following table presents non-performing loans by classes of the loan portfolio as of March 31, 2024 December 31, 2023 ( March 31, 2024 Non-accrual loans 90 Days or More Past Due and Accruing Total Non-Performing With a Related Allowance Without a Related Allowance Total One-to-four family residential owner occupied $ - $ - $ - $ 400 $ 400 Commercial real estate - - - 947 947 Home equity - - - 350 350 Commercial business 33 4,422 4,455 1,565 6,020 Total $ 33 $ 4,422 $ 4,455 $ 3,262 $ 7,717 December 31, 2023 Non-accrual loans 90 Days or More Past Due and Accruing Total Non-Performing With a Related Allowance Without a Related Allowance Total One-to-four family residential owner occupied $ - $ - $ - $ 401 $ 401 Commercial real estate - 51 51 - 51 Total $ - $ 51 $ 51 $ 401 $ 452 For the three March 31, 2024 March 31, 2023 three March 31, 2024 three March 31, 2023. As of March 31, 2024, no may Following is a summary, by loan portfolio class, of changes in the allowance for credit losses for the year ended March 31, 2024 ( March 31, 2024 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Total Allowance for credit losses: Beginning balance $ 153 $ 219 $ 420 $ 2,784 $ 583 $ 61 $ 2,538 $ 6,758 Charge-offs - - - - - - (338 ) (338 ) Recoveries - - - - - - - - Provision (1) 13 (9 ) 7 97 (20 ) 5 991 1,084 Ending balance $ 166 $ 210 $ 427 $ 2,881 $ 563 $ 66 $ 3,191 $ 7,504 ( 1 Provision included in the table only includes the portion related to loans receivable. For the three March 31, 2024, The Bank allocated increased allowance for credit loss provisions to the commercial real estate and commercial business loan portfolio classes for the three March 31, 2024, three March 31, 2024, The following table presents the balance of collateral-dependent loans individually evaluated with the ACL by collateral type at March 31, 2024 ( March 31, 2024 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Total Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ 33 $ 33 Following is a summary, by loan portfolio class, of changes in the allowance for credit losses for the year ended December 31, 2023 ( December 31, 2023 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 123 $ 295 $ 451 $ 3,750 $ 304 $ 33 $ 2,422 $ 300 $ 7,678 Impact of ASU 326 - - - - - - - - - Charge-offs - - (2 ) (134 ) - - (739 ) - (875 ) Recoveries - - - - - - - - - Provision (1) 30 (76 ) (29 ) (832 ) 279 28 855 (300 ) (45 ) Ending balance $ 153 $ 219 $ 420 $ 2,784 $ 583 $ 61 $ 2,538 $ - $ 6,758 ( 1 Provision included in the table only includes the portion related to loans receivable. For the year ended December 31, 2023, There were no collateral-dependent loans individually evaluated with the ACL by collateral type at December 31, 2023. As of December 31, 2023, no may The Bank allocated decreased allowance for credit loss provisions to the commercial real estate loan portfolio class for the year ended December 31, 2023, December 31, 2023, December 31, 2023, The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of March 31, 2024 December 31, 2023 ( March 31, 2024 30-89 Days Past Due 90 Days or More Past Due Current Total Loans Receivable One-to-four family residential owner occupied $ 134 $ 400 $ 23,715 $ 24,249 One-to-four family residential non-owner occupied 298 - 39,112 39,410 Multi-family residential 472 - 45,262 45,734 Commercial real estate 2,617 947 330,376 333,940 Construction 5,471 - 29,462 34,933 Home equity 785 350 5,031 6,166 Commercial business - 6,020 118,087 124,107 Other consumer - - 66 66 Total $ 9,777 $ 7,717 $ 591,111 $ 608,605 December 31, 2023 30-89 Days Past Due 90 Days or More Past Due Current Total Loans Receivable One-to-four family residential owner occupied $ 136 $ 401 $ 22,348 $ 22,885 One-to-four family residential non-owner occupied 256 - 40,199 40,455 Multi-family residential 175 - 46,505 46,680 Commercial real estate 3,944 - 327,230 331,174 Construction - - 35,585 35,585 Home equity 403 - 5,759 6,162 Commercial business - - 142,220 142,220 Other consumer - - 69 69 Total $ 4,914 $ 401 $ 619,915 $ 625,230 Non-performing loans, which consist of non-accruing loans plus accruing loans 90 March 31, 2024 December 31, 2023. |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible, Net | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 Goodwill and Other Intangible, Net On January 4, 2021, second March 29, 2024. 2 On August 1, 2016, ten March 31, 2024 2023 three March 31, 2024 2023 |
Note 8 - Deposits
Note 8 - Deposits | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 8 Deposits Deposits consist of the following classifications (in thousands): March 31, 2024 December 31, 2023 Non-interest bearing checking accounts $ 112,791 $ 92,216 Interest bearing checking accounts (1) 118,403 104,274 Savings accounts 960 841 Money market accounts (2) 215,850 218,525 Certificates of deposit 225,370 215,843 Total deposits $ 673,374 $ 631,699 ( 1 The Company has identified one March 31, 2024 December 31, 2023, March 31, 2024 December 31, 2023, ( 2 The Company has identified one March 31, 2024 December 31, 2023, March 31, 2024 December 31, 2023, |
Note 9 - Borrowings
Note 9 - Borrowings | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 Borrowings Federal Home Loan Bank (“FHLB”) advances consist of the following at March 31, 2024 December 31, 2023 ( March 31, 2024 December 31, 2023 Amount Weighted Interest Amount Weighted Interest Fixed rate borrowings maturing: 2024 $ 15,100 4.12 % $ 21,167 4.25 % 2025 7,855 3.40 7,855 3.40 Total FHLB long-term debt $ 22,955 3.87 % $ 29,022 4.02 % On December 27, 2018, December 31, 2028, first five five may, December 31, 2023, On March 2, 2023, March 15, 2025 ( March 16, 2023, March 15 September 15 September 15, 2023. March 15, 2025. March 15, 2024, 100% The balance of subordinated debt, net of unamortized debt issuance costs, was $22.0 million at both March 31, 2024 December 31, 2023. |
Note 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 10 Stock Compensation Plans Employee Stock Ownership Plan The Company maintains an Employee Stock Ownership Plan (ESOP) for the benefit of employees who meet the eligibility requirements of the plan. The Bank may During the three March 31, 2024 March 31, 2023, not Stock Incentive Plans – Share Awards In May 2013, 2013 “2013 2013 March 13, 2023, five May 9, 2023. In May 2018, 2018 “2018 2018 May 2018 may In May 2023, 2023 “2023 2023 May 2023 may As of March 31, 2024 2018 2023 2023 2018 2018 2023 five A summary of share award activity under the Company’s 2018 2023 March 31, 2024 three March 31, 2024 March 31, 2024 Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the period 45,000 $ 18.00 Granted - - Vested - - Forfeited - - Unvested at the end of the period 45,000 $ 18.00 Compensation expense on the restricted stock awards is recognized ratably over the five three March 31, 2024 2023, three March 31, 2024 2023, March 31, 2024, Stock Option and Stock Incentive Plans – Stock Options In May 2008, 2008 February 13, 2018, 2013 10 May 2023. 2013 May 2013 March 13, 2023, 2018 May 2028, 2018 May 2018 may May 2023, 2023 2023 May 2023 may All incentive stock options issued under the Option Plan and the 2013, 2018 2023 422 five ten As of March 31, 2024, 2018 2023 2023 five ten During the three March 31, 2024 2023, three March 31, 2024 2023, March 31, 2024, A summary of option activity under the Company’s Option Plan and 2013, 2018 2023 March 31, 2024 three March 31, 2024 March 31, 2024 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the period 224,033 $ 15.98 8.6 Granted - - - Exercised - - - Forfeited - - - Outstanding at end of period 224,033 $ 15.98 8.6 Exercisable at end of period 91,533 $ 13.30 4.1 |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 11 Fair Value Measurements and Fair Values of Financial Instruments Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair values estimates may not not may Fair value is determined at one not not not not The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Valuations derived from valuation techniques in which one This hierarchy requires the use of observable market data when available. The methods of determining the fair value of assets and liabilities presented in this note are consistent with our methodologies disclosed in Note 19 2023 10 3 The following is a discussion of assets and liabilities measured at fair value on a recurring and non-recurring basis and valuation techniques applied: Investment Securities Available For Sale: 2 We may Individually Evaluated Loans: 3 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of March 31, 2024 ( March 31, 2024 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Government National Mortgage Association mortgage-backed securities $ 2,129 $ - $ 2,129 $ - Federal National Mortgage Association mortgage- backed securities 72 - 72 - Total investment securities available for sale $ 2,201 $ - $ 2,201 $ - Total recurring fair value measurements $ 2,201 $ - $ 2,201 $ - Nonrecurring fair value measurements Collateral-dependent loans $ 33 $ - $ - $ 33 Total nonrecurring fair value measurements $ 33 $ - $ - $ 33 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2023 ( December 31, 2023 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Government National Mortgage Association mortgage-backed securities $ 2,268 $ - $ 2,268 $ - Federal National Mortgage Association mortgage- backed securities 73 - 73 - Total investment securities available for sale $ 2,341 $ - $ 2,341 $ - Total recurring fair value measurements $ 2,341 $ - $ 2,341 $ - The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has used Level 3 March 31, 2024 ( March 31, 2024 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Collateral-dependent loans $ 33 Appraisal of collateral (1) Appraisal adjustments (2) 8% (8%) _______________ ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 ( 2 Appraisals may The fair values of the Company’s financial instruments that are not March 31, 2024 December 31, 2023 Fair Value Measurements at March 31, 2024 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 912 $ 975 $ - $ - $ 975 Loans held for sale 7,052 7,250 - 7,250 - Loans receivable, net 600,578 582,153 - - 582,153 Financial Liabilities Deposits 676,374 679,330 448,003 - 231,327 FHLB long-term borrowings 22,955 22,921 - - 22,921 Subordinated debt 22,000 21,376 - - 21,376 Fair Value Measurements at December 31, 2023 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 1,912 $ 1,981 $ - $ - $ 1,981 Loans held for sale 60,380 62,072 - 62,072 - Loans receivable, net 603,349 584,842 - - 584,842 Financial Liabilities Deposits 631,699 636,946 415,855 - 221,091 FHLB long-term borrowings 29,022 29,001 - - 29,001 Subordinated debt 21,957 20,666 - - 20,666 For cash and cash equivalents, accrued interest receivable, investment in FHLB stock, bank-owned life insurance, accrued interest payable, and advances from borrowers for taxes and insurance, the carrying value is a reasonable estimate of the fair value and are considered Level 1 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | ITEM 5. OTHER INFORMATION Not |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Financial Presentation. March 31, 2024, July 2009. March 31, 2024, February, 2019, July 2012 August 2016 October 2021 January 4, 2021, second March 29, 2024, The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Pursuant to the Bank’s election under Section 10 three The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP) for interim information and with the instructions to Form 10 not The foregoing consolidated financial statements are unaudited; but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation thereof. The balances as of December 31, 2023 2023 10 three March 31, 2024 not may December 31, 2024. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements. |
Critical Accounting Policy [Policy Text Block] | Critical Accounting Policies. March 31, 2024 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Pronouncements Not November 2023, Accounting Standards Update ("ASU") ASU 2023 07, 280 December 15, 2023, December 15, 2024. In December 2023, ASU 2023 09, 740 December 15, 2024. In March 2024, 2024 01, Compensation Stock Compensation (Topic 718 718 December 15, 2024, December 15, 2025, In March 2024, 2024 02, Codification Improvements — Amendments to Remove References to the Concepts Statements not not 2024 02 December 15, 2024. December 15, 2025. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications. 2023 2024 not no |
Note 2 - Discontinued Operati_2
Note 2 - Discontinued Operations (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | At December 31, 2023 (Unaudited) Assets from Discontinued Operations Cash and cash equivalents $ 4,121 Loans held for sale 9,580 Premises and equipment, net 277 Goodwill 2,058 Prepaid expenses and other assets 3,939 Total Assets from Discontinued Operations $ 19,975 Liabilities and Stockholders Equity from Discontinued Operations Liabilities from Discontinued Operations Other short-term borrowings $ 5,549 Accrued interest payable 565 Accrued expenses and other liabilities 7,052 Total Liabilities from Discontinued Operations 13,166 Total Stockholders Equity from Discontinued Operations 6,809 Total Liabilities and Stockholders Equity from Discontinued Operations $ 19,975 For the Three Months Ended March 31, 2024 2023 (Unaudited) Interest and Dividend Income Interest on loans, including fees $ 70 $ 81 Interest and dividends on time deposits, investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock - - Total Interest and Dividend Income - 81 Interest Expense Interest on other borrowings 295 368 Total Interest Expense 295 368 Net Interest Income (225 ) (287 ) Non-Interest Income Mortgage banking, equipment lending and title abstract fees 404 669 Other fees and services charges 197 133 Net loan servicing income 726 1,086 Net gain on sale of loans 366 489 Total Non-Interest Income 1,693 2,377 Non-Interest Expense Salaries and employee benefits 1,681 1,766 Occupancy and equipment 219 185 Professional fees 31 27 Advertising 146 216 Other 987 128 Total Non-Interest Expense 3,064 2,322 Total net loss from discontinued operations $ (1,596 ) $ (232 ) Loss attributable to non-controlling interest (782 ) (114 ) Net loss from discontinued operations $ (814 ) $ (118 ) |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended March 31, 2024 2023 Net Income Attributable to Quaint Oak Bancorp, Inc. $ 873,000 $ 563,000 Weighted average shares outstanding – basic 2,450,814 2,182,597 Effect of dilutive common stock equivalents - 89,933 Adjusted weighted average shares outstanding – diluted 2,450,814 2,272,530 Basic earnings per share from continuing operations $ 0.60 $ 0.30 Basic earnings per share from discontinued operations $ (0.24 ) $ (0.04 ) Basic earnings per share, net $ 0.36 $ 0.26 Diluted earnings per share from continuing operations $ 0.60 $ 0.29 Diluted earnings per share from discontinued operations $ (0.24 ) $ (0.04 ) Diluted earnings per share, net $ 0.36 $ 0.25 |
Note 4 - Accumulated Other Co_2
Note 4 - Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Investment Securities Available for Sale (1) For the Three Months Ended March 31, 2024 2023 Balance at the beginning of the period $ (10 ) $ (24 ) Other comprehensive income 6 10 Balance at the end of the period $ (4 ) $ (14 ) |
Note 5 - Investment Securitie_2
Note 5 - Investment Securities Available for Sale (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Debt Securities, Available-for-Sale [Table Text Block] | March 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale: Mortgage-backed securities: Government National Mortgage Association securities $ 2,134 $ - $ (5 ) $ 2,129 Federal National Mortgage Association securities 72 - - 72 Total available-for-sale-securities $ 2,206 $ - $ (5 ) $ 2,201 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale: Mortgage-backed securities: Government National Mortgage Association securities $ 2,281 $ - $ (13 ) $ 2,268 Federal National Mortgage Association securities 73 - - 73 Total available-for-sale-securities $ 2,354 $ - $ (13 ) $ 2,341 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale Amortized Cost Fair Value Due after ten years $ 2,206 $ 2,201 Total $ 2,206 $ 2,201 |
Gain (Loss) on Securities [Table Text Block] | March 31, 2024 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Fair Value Gross Fair Value Gross Government National Mortgage Association securities 11 $ 2,129 $ (5 ) $ - $ - $ 2,129 $ (5 ) December 31, 2023 Less than Twelve Months Twelve Months or Greater Total Number of Securities Fair Value Gross Fair Value Gross Fair Value Gross Government National Mortgage Association securities 11 $ 2,268 $ (13 ) $ - $ - $ 2,268 $ (13 ) |
Note 6 - Loans Receivable, Ne_2
Note 6 - Loans Receivable, Net and Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2024 December 31, 2023 Real estate loans: One-to-four family residential: Owner occupied $ 24,249 $ 22,885 Non-owner occupied 39,410 40,455 Total one-to-four family residential 63,659 63,340 Multi-family (five or more) residential 45,734 46,680 Commercial real estate 333,940 331,174 Construction 34,933 35,585 Home equity 6,166 6,162 Total real estate loans 484,432 482,941 Commercial business 124,107 142,220 Other consumer 66 69 Total Loans 608,605 625,230 Deferred loan fees and costs (523 ) (771 ) Allowance for credit losses (7,504 ) (6,758 ) Net Loans $ 600,578 $ 617,701 |
Financing Receivable, Internal Risk Categories [Table Text Block] | Term Loans Amortized Cost by Origination Year As of March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Total One-to-four family residential owner occupied Risk rating Pass $ 2,308 $ 5,731 $ 8,230 $ 3,810 $ 1,684 $ 2,486 $ - $ 24,249 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential owner occupied $ 2,308 $ 5,731 $ 8,230 $ 3,810 $ 1,684 $ 2,486 $ - $ 24,249 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - One-to-four family residential non- owner occupied Risk rating Pass $ 125 $ 2,188 $ 7,109 $ 12,263 $ 2,976 $ 14,749 $ - $ 39,410 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential non-owner occupied $ 125 $ 2,188 $ 7,109 $ 12,263 $ 2,976 $ 14,749 $ - $ 39,410 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Term Loans Amortized Cost by Origination Year As of March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Total Multi-family residential Risk rating Pass $ 126 $ 1,556 $ 14,752 $ 13,407 $ 4,452 $ 11,091 $ - $ 45,384 Special mention - - - 350 - - - 350 Substandard - - - - - - - - Doubtful - - - - - - - - Total multi-family residential $ 126 $ 1,556 $ 14,752 $ 13,757 $ 4,452 $ 11,091 $ - $ 45,734 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate Risk rating Pass $ 10,976 $ 58,824 $ 119,668 $ 60,628 $ 26,406 $ 54,126 $ 2,742 $ 333,370 Special mention - - 570 - - - - 570 Substandard - - - - - - - - Doubtful - - - - - - - - Total commercial real estate $ 10,976 $ 58,824 $ 120,238 $ 60,628 $ 26,406 $ 54,126 $ 2,742 $ 333,940 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Construction Risk rating Pass $ 2,231 $ 13,988 $ 8,915 $ 7,651 $ - $ - $ - $ 32,785 Special mention - - - - - 2,148 - 2,148 Substandard - - - - - - - - Doubtful - - - - - - - - Total construction $ 2,231 $ 13,988 $ 8,915 $ 7,651 $ - $ 2,148 $ - $ 34,933 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity Risk rating Pass $ 204 $ 900 $ 33 $ 120 $ - $ 196 $ 4,713 $ 6,166 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total home equity $ 204 $ 900 $ 33 $ 120 $ - $ 196 $ 4,713 $ 6,166 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial business Risk rating Pass $ 7,838 $ 5,672 $ 64,670 $ 24,299 $ 4,212 $ 2,288 $ 11,029 $ 120,008 Special mention - - - 398 - - 39 437 Substandard - - 16 2,048 33 1,565 - 3,662 Doubtful - - - - - - - - Total commercial business $ 7,838 $ 5,672 $ 64,686 $ 26,745 $ 4,246 $ 3,853 $ 11,068 $ 124,107 Current period gross charge-offs $ - $ - $ 318 $ 20 $ - $ - $ - $ 338 Other consumer Risk rating Pass $ 66 $ - $ - $ - $ - $ - $ - $ 66 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total other consumer $ 66 $ - $ - $ - $ - $ - $ - $ 66 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Total Risk rating Pass $ 23,874 $ 88,859 $ 223,377 $ 122,178 $ 39,730 $ 84,936 $ 18,484 $ 601,438 Special mention - - 570 748 - 2,148 39 3,505 Substandard - - 16 2,048 33 1,565 - 3,662 Doubtful - - - - - - - - Total $ 23,874 $ 88,859 $ 223,963 $ 124,974 $ 39,763 $ 88,649 $ 18,523 $ 608,605 Current period gross charge-offs $ - $ - $ 318 $ 20 $ - $ - $ - $ 338 Term Loans Amortized Cost by Origination Year As of December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total One-to-four family residential owner occupied Risk rating Pass $ 6,044 $ 8,574 $ 3,840 $ 1,850 $ 571 $ 2,006 $ - $ 22,885 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential owner occupied $ 6,044 $ 8,574 $ 3,840 $ 1,850 $ 571 $ 2,006 $ - $ 22,885 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - One-to-four family residential non- owner occupied Risk rating Pass $ 2,195 $ 7,153 $ 12,362 $ 3,268 $ 1,026 $ 14,451 $ - $ 40,455 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total one-to-four family residential non-owner occupied $ 2,195 $ 7,153 $ 12,362 $ 3,268 $ 1,026 $ 14,451 - $ 40,455 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Multi-family residential Risk rating Pass $ 1,566 $ 15,542 $ 13,853 $ 4,483 $ 2,386 $ 8,850 $ - $ 46,680 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total multi-family residential $ 1,566 $ 15,542 $ 13,853 $ 4,483 $ 2,386 $ 8,850 $ - $ 46,680 Current period gross charge-offs $ - $ - $ - $ - $ - $ 2 $ - $ 2 Commercial real estate Risk rating Pass $ 61,338 $ 121,006 $ 64,684 $ 26,631 $ 16,571 $ 38,897 $ 1,996 $ 331,123 Special mention - - - - - - - - Substandard - - - - 51 - - 51 Doubtful - - - - - - - - Total commercial real estate $ 61,338 $ 121,006 $ 64,684 $ 26,631 $ 16,622 $ 38,897 $ 1,996 $ 331,174 Current period gross charge-offs $ - $ - $ - $ 134 $ - $ - $ - $ 134 Construction Risk rating Pass $ 14,777 $ 11,244 $ 7,417 $ - $ - $ - $ - $ 33,438 Special mention - - - - - - - - Substandard - - - - - 2,147 - 2,147 Doubtful - - - - - - - - Total construction $ 14,777 $ 11,244 $ 7,417 $ - $ - $ 2,147 $ - $ 35,585 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Term Loans Amortized Cost by Origination Year As of December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Home equity Risk rating Pass $ 1,062 $ 35 $ 122 $ - $ - $ 205 $ 4,738 $ 6,162 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total home equity $ 1,062 $ 35 $ 122 $ - $ - $ 205 $ 4,738 $ 6,162 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial business Risk rating Pass $ 20,793 $ 69,913 $ 27,022 $ 4,324 $ 1,955 $ 1,109 $ 13,593 $ 138,709 Special mention - - - - - - - - Substandard - - 1,946 - 1,242 323 - 3,511 Doubtful - - - - - - - - Total commercial business $ 20,793 $ 69,913 $ 28,967 $ 4,324 $ 3,197 $ 1,433 $ 13,593 $ 142,220 Current period gross charge-offs $ - $ 29 $ 613 $ 97 $ - $ - $ - $ 739 Other consumer Risk rating Pass $ 69 $ - $ - $ - $ - $ - $ - $ 69 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total other consumer $ 69 $ - $ - $ - $ - $ - $ - $ 69 Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Total Pass $ 93,492 $ 233,467 $ 129,300 $ 40,556 $ 22,509 $ 65,518 $ 20,327 $ 619,521 Special mention - - - - - - - - Substandard - - 1,946 - 1,293 2,470 - 5,709 Doubtful - - - - - - - - Total $ 93,492 $ 233,467 $ 131,246 $ 40,556 $ 23,802 $ 67,988 $ 20,327 $ 625,230 Current period gross charge-offs $ - $ 29 $ 613 $ 231 $ - $ 2 $ - $ 875 |
Financing Receivable, Nonaccrual [Table Text Block] | March 31, 2024 Non-accrual loans 90 Days or More Past Due and Accruing Total Non-Performing With a Related Allowance Without a Related Allowance Total One-to-four family residential owner occupied $ - $ - $ - $ 400 $ 400 Commercial real estate - - - 947 947 Home equity - - - 350 350 Commercial business 33 4,422 4,455 1,565 6,020 Total $ 33 $ 4,422 $ 4,455 $ 3,262 $ 7,717 December 31, 2023 Non-accrual loans 90 Days or More Past Due and Accruing Total Non-Performing With a Related Allowance Without a Related Allowance Total One-to-four family residential owner occupied $ - $ - $ - $ 401 $ 401 Commercial real estate - 51 51 - 51 Total $ - $ 51 $ 51 $ 401 $ 452 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | March 31, 2024 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Total Allowance for credit losses: Beginning balance $ 153 $ 219 $ 420 $ 2,784 $ 583 $ 61 $ 2,538 $ 6,758 Charge-offs - - - - - - (338 ) (338 ) Recoveries - - - - - - - - Provision (1) 13 (9 ) 7 97 (20 ) 5 991 1,084 Ending balance $ 166 $ 210 $ 427 $ 2,881 $ 563 $ 66 $ 3,191 $ 7,504 March 31, 2024 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Total Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ 33 $ 33 December 31, 2023 1-4 Family Residential Owner Occupied 1-4 Family Residential Non-Owner Occupied Multi-Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for credit losses: Beginning balance $ 123 $ 295 $ 451 $ 3,750 $ 304 $ 33 $ 2,422 $ 300 $ 7,678 Impact of ASU 326 - - - - - - - - - Charge-offs - - (2 ) (134 ) - - (739 ) - (875 ) Recoveries - - - - - - - - - Provision (1) 30 (76 ) (29 ) (832 ) 279 28 855 (300 ) (45 ) Ending balance $ 153 $ 219 $ 420 $ 2,784 $ 583 $ 61 $ 2,538 $ - $ 6,758 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2024 30-89 Days Past Due 90 Days or More Past Due Current Total Loans Receivable One-to-four family residential owner occupied $ 134 $ 400 $ 23,715 $ 24,249 One-to-four family residential non-owner occupied 298 - 39,112 39,410 Multi-family residential 472 - 45,262 45,734 Commercial real estate 2,617 947 330,376 333,940 Construction 5,471 - 29,462 34,933 Home equity 785 350 5,031 6,166 Commercial business - 6,020 118,087 124,107 Other consumer - - 66 66 Total $ 9,777 $ 7,717 $ 591,111 $ 608,605 December 31, 2023 30-89 Days Past Due 90 Days or More Past Due Current Total Loans Receivable One-to-four family residential owner occupied $ 136 $ 401 $ 22,348 $ 22,885 One-to-four family residential non-owner occupied 256 - 40,199 40,455 Multi-family residential 175 - 46,505 46,680 Commercial real estate 3,944 - 327,230 331,174 Construction - - 35,585 35,585 Home equity 403 - 5,759 6,162 Commercial business - - 142,220 142,220 Other consumer - - 69 69 Total $ 4,914 $ 401 $ 619,915 $ 625,230 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | March 31, 2024 December 31, 2023 Non-interest bearing checking accounts $ 112,791 $ 92,216 Interest bearing checking accounts (1) 118,403 104,274 Savings accounts 960 841 Money market accounts (2) 215,850 218,525 Certificates of deposit 225,370 215,843 Total deposits $ 673,374 $ 631,699 |
Note 9 - Borrowings (Tables)
Note 9 - Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Federal Home Loan Bank Advances [Member] | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | March 31, 2024 December 31, 2023 Amount Weighted Interest Amount Weighted Interest Fixed rate borrowings maturing: 2024 $ 15,100 4.12 % $ 21,167 4.25 % 2025 7,855 3.40 7,855 3.40 Total FHLB long-term debt $ 22,955 3.87 % $ 29,022 4.02 % |
Note 10 - Stock Compensation _2
Note 10 - Stock Compensation Plans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Activity [Table Text Block] | March 31, 2024 Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the period 45,000 $ 18.00 Granted - - Vested - - Forfeited - - Unvested at the end of the period 45,000 $ 18.00 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | March 31, 2024 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the period 224,033 $ 15.98 8.6 Granted - - - Exercised - - - Forfeited - - - Outstanding at end of period 224,033 $ 15.98 8.6 Exercisable at end of period 91,533 $ 13.30 4.1 |
Note 11 - Fair Value Measurem_2
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | March 31, 2024 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Government National Mortgage Association mortgage-backed securities $ 2,129 $ - $ 2,129 $ - Federal National Mortgage Association mortgage- backed securities 72 - 72 - Total investment securities available for sale $ 2,201 $ - $ 2,201 $ - Total recurring fair value measurements $ 2,201 $ - $ 2,201 $ - Nonrecurring fair value measurements Collateral-dependent loans $ 33 $ - $ - $ 33 Total nonrecurring fair value measurements $ 33 $ - $ - $ 33 December 31, 2023 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements: Investment securities available for sale Government National Mortgage Association mortgage-backed securities $ 2,268 $ - $ 2,268 $ - Federal National Mortgage Association mortgage- backed securities 73 - 73 - Total investment securities available for sale $ 2,341 $ - $ 2,341 $ - Total recurring fair value measurements $ 2,341 $ - $ 2,341 $ - |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 31, 2024 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Collateral-dependent loans $ 33 Appraisal of collateral (1) Appraisal adjustments (2) 8% (8%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at March 31, 2024 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 912 $ 975 $ - $ - $ 975 Loans held for sale 7,052 7,250 - 7,250 - Loans receivable, net 600,578 582,153 - - 582,153 Financial Liabilities Deposits 676,374 679,330 448,003 - 231,327 FHLB long-term borrowings 22,955 22,921 - - 22,921 Subordinated debt 22,000 21,376 - - 21,376 Fair Value Measurements at December 31, 2023 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 1,912 $ 1,981 $ - $ - $ 1,981 Loans held for sale 60,380 62,072 - 62,072 - Loans receivable, net 603,349 584,842 - - 584,842 Financial Liabilities Deposits 631,699 636,946 415,855 - 221,091 FHLB long-term borrowings 29,022 29,001 - - 29,001 Subordinated debt 21,957 20,666 - - 20,666 |
Note 1 - Financial Statement _2
Note 1 - Financial Statement Presentation and Significant Accounting Policies (Details Textual) | 3 Months Ended | |
Mar. 29, 2024 | Mar. 31, 2024 | |
Number of Wholly-Owned Subsidiaries | 6 | |
Oakmont Capital Holdings, LLC [Member] | ||
Ownership Interest, Sold, Percent | 51% |
Note 2 - Discontinued Operati_3
Note 2 - Discontinued Operations (Details Textual) | Mar. 31, 2024 | Mar. 29, 2024 |
Oakmont Capital Holdings, LLC [Member] | ||
Disposal Group, Including Discontinued Operation, Ownership Sold | 51% | 51% |
Note 2 - Discontinued Operati_4
Note 2 - Discontinued Operations - Summary of Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Total Assets from Discontinued Operations | $ 0 | $ 19,975 | |
Net loss from discontinued operations | (814) | $ (118) | |
Oakmont Capital Holdings, LLC [Member] | |||
Cash and cash equivalents | 4,121 | ||
Loans held for sale | 9,580 | ||
Premises and equipment, net | 277 | ||
Goodwill | 2,058 | ||
Prepaid expenses and other assets | 3,939 | ||
Total Assets from Discontinued Operations | 19,975 | ||
Other short-term borrowings | 5,549 | ||
Accrued interest payable | 565 | ||
Accrued expenses and other liabilities | 7,052 | ||
Total Liabilities from Discontinued Operations | 13,166 | ||
Total Stockholders’ Equity from Discontinued Operations | 6,809 | ||
Total Liabilities and Stockholders’ Equity from Discontinued Operations | $ 19,975 | ||
Interest on loans, including fees | 70 | 81 | |
Interest and dividends on time deposits, investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock | 0 | 0 | |
Total Interest and Dividend Income | 0 | 81 | |
Interest on other borrowings | 295 | 368 | |
Total Interest Expense | 295 | 368 | |
Net Interest Income | (225) | (287) | |
Net gain on sale of loans | 366 | 489 | |
Total Non-Interest Income | 1,693 | 2,377 | |
Salaries and employee benefits | 1,681 | 1,766 | |
Occupancy and equipment | 219 | 185 | |
Professional fees | 31 | 27 | |
Advertising | 146 | 216 | |
Other | 987 | 128 | |
Total Non-Interest Expense | 3,064 | 2,322 | |
Total net loss from discontinued operations | (1,596) | (232) | |
Loss attributable to non-controlling interest | (782) | (114) | |
Net loss from discontinued operations | (814) | (118) | |
Oakmont Capital Holdings, LLC [Member] | Mortgage Banking and Abstract Fees [Member] | |||
Revenue | 404 | 669 | |
Oakmont Capital Holdings, LLC [Member] | Other Fees and Services Fees [Member] | |||
Revenue | 197 | 133 | |
Oakmont Capital Holdings, LLC [Member] | Loan Servicing Fee [Member] | |||
Revenue | $ 726 | $ 1,086 |
Note 3 - Earnings Per Share - W
Note 3 - Earnings Per Share - Weighted Average Shares Used in Basic and Dilutive Earnings Per Share Computations (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net Income Attributable to Quaint Oak Bancorp, Inc. | $ 873,000 | $ 563,000 |
Weighted average shares outstanding – basic (in shares) | 2,450,814 | 2,182,597 |
Effect of dilutive common stock equivalents (in shares) | 0 | 89,933 |
Adjusted weighted average shares outstanding – diluted (in shares) | 2,450,814 | 2,272,530 |
Basic earnings per share from continuing operations (in dollars per share) | $ 0.6 | $ 0.3 |
Basic earnings per share from discontinued operations (in dollars per share) | (0.24) | (0.04) |
Basic earnings per share, net (in dollars per share) | 0.36 | 0.26 |
Diluted earnings per share from continuing operations (in dollars per share) | 0.6 | 0.29 |
Diluted earnings per share from discontinued operations (in dollars per share) | (0.24) | (0.04) |
Diluted earnings per share, net (in dollars per share) | $ 0.36 | $ 0.25 |
Note 4 - Accumulated Other Co_3
Note 4 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Balance at the beginning of the period | $ 48,491 | ||
Other comprehensive income | 6 | $ 10 | |
Balance at the end of the period | 50,144 | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | |||
Balance at the beginning of the period | [1] | (10) | (24) |
Other comprehensive income | [1] | 6 | 10 |
Balance at the end of the period | [1] | $ (4) | $ (14) |
[1]All amounts are net of tax. Amounts in parentheses indicate debits. |
Note 5 - Investment Securitie_3
Note 5 - Investment Securities Available for Sale (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Debt Securities, Available-for-Sale, Allowance for Credit Loss | $ 0 | $ 0 |
Proceeds from Sale of Debt Securities, Available-for-Sale | $ 0 | $ 0 |
Note 5 - Investment Securitie_4
Note 5 - Investment Securities Available for Sale - Amortized Cost and Fair Value of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized cost | $ 2,206 | $ 2,354 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (5) | (13) |
Fair value | 2,201 | 2,341 |
Government National Mortgage Association (GNMA) [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Amortized cost | 2,134 | 2,281 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (5) | (13) |
Fair value | 2,129 | 2,268 |
Federal National Mortgage Association (FNMA) [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | ||
Amortized cost | 72 | 73 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | $ 72 | $ 73 |
Note 5 - Investment Securitie_5
Note 5 - Investment Securities Available for Sale - Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Due after ten years, amortized cost | $ 2,206 | |
Due after ten years, fair value | 2,201 | |
Total, amortized cost | 2,206 | $ 2,354 |
Total, fair value | $ 2,201 | $ 2,341 |
Note 5 - Investment Securitie_6
Note 5 - Investment Securities Available for Sale - Gross Unrealized Losses and Fair Value (Details) - Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] - Government National Mortgage Association (GNMA) [Member] $ in Thousands | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) |
Number of securities | 11 | 11,000 |
Fair value, less than twelve months | $ 2,129 | $ 2,268 |
Gross unrealized losses, less than twelve months | (5) | (13) |
Fair value, twelve months or greater | 0 | |
Gross unrealized losses, twelve months or greater | 0 | |
Fair value | 2,129 | 2,268 |
Gross unrealized losses | $ (5) | $ (13) |
Note 6 - Loans Receivable, Ne_3
Note 6 - Loans Receivable, Net and Allowance for Credit Losses (Details Textual) Pure in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Financing Receivable, Nonaccrual, Interest Income | $ 0 | $ 0 | |
Financing Receivable, Nonaccrual, Interest Income, Foregone | 4,000 | 59,000 | |
Provision (Recovery) of Credit Losses | 1,100,000 | $ (157,000) | |
Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 52,000 | $ 181,000 | $ 202,000 |
Troubled Debt Restructuring, Number of Contracts | 0 | ||
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 608,605,000 | $ 625,230,000 | |
Nonperforming Financial Instruments [Member] | |||
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | $ 7,700,000 | $ 452,000 |
Note 6 - Loans Receivable, Ne_4
Note 6 - Loans Receivable, Net and Allowance for Credit Losses - Composition of Net Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Loans | $ 608,605 | $ 625,230 | ||
Deferred loan fees and costs | (523) | (771) | ||
Allowance for credit losses | (7,504) | (6,758) | $ (7,678) | |
Net Loans | 600,578 | 617,701 | ||
Real Estate Portfolio Segment [Member] | ||||
Loans | 484,432 | 482,941 | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||||
Loans | 24,249 | 22,885 | ||
Allowance for credit losses | (166) | (153) | (123) | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||||
Loans | 39,410 | 40,455 | ||
Allowance for credit losses | (210) | (219) | (295) | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Loans [Member] | ||||
Loans | 63,659 | 63,340 | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||||
Loans | 45,734 | 46,680 | ||
Allowance for credit losses | (427) | (420) | (451) | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||||
Loans | 333,940 | 331,174 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | 34,933 | 35,585 | ||
Allowance for credit losses | (563) | (583) | (304) | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Loans | 6,166 | 6,162 | ||
Allowance for credit losses | (66) | (61) | $ (33) | |
Commercial Portfolio Segment [Member] | ||||
Loans | [1] | 124,107 | 142,220 | |
Consumer Portfolio Segment [Member] | ||||
Loans | $ 66 | $ 69 | ||
[1]Includes $163,000 and $214,000 of PPP loans at March 31, 2023 and December 31, 2022, respectively. |
Note 6 - Loans Receivable, Ne_5
Note 6 - Loans Receivable, Net and Allowance for Credit Losses - Internal Risk Categories (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Financing Receivable, Year One | $ 23,874 | $ 93,492 |
Financing Receivable, Year Two | 88,859 | 233,467 |
Financing Receivable, Year Three | 223,963 | 131,246 |
Financing Receivable, Year Four | 124,974 | 40,556 |
Financing Receivable, Year Five | 39,763 | 23,802 |
Financing Receivable, Prior | 88,649 | 67,988 |
Financing Receivable, Revolving | 18,523 | 20,327 |
Financing Receivable, Total | 608,605 | 625,230 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 29 |
Current period gross charge-offs, Year Three | 318 | 613 |
Current period gross charge-offs, Year Four | 20 | 231 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 2 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 338 | 875 |
Current period gross charge-offs | 318 | 613 |
Pass [Member] | ||
Financing Receivable, Year One | 23,874 | 93,492 |
Financing Receivable, Year Two | 88,859 | 233,467 |
Financing Receivable, Year Three | 223,377 | 129,300 |
Financing Receivable, Year Four | 122,178 | 40,556 |
Financing Receivable, Year Five | 39,730 | 22,509 |
Financing Receivable, Prior | 84,936 | 65,518 |
Financing Receivable, Revolving | 18,484 | 20,327 |
Financing Receivable, Total | 601,438 | 619,521 |
Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 570 | 0 |
Financing Receivable, Year Four | 748 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 2,148 | 0 |
Financing Receivable, Revolving | 39 | 0 |
Financing Receivable, Total | 3,505 | 0 |
Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 16 | 1,946 |
Financing Receivable, Year Four | 2,048 | 0 |
Financing Receivable, Year Five | 33 | 1,293 |
Financing Receivable, Prior | 1,565 | 2,470 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 3,662 | 5,709 |
Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Financing Receivable, Year One | 2,308 | 6,044 |
Financing Receivable, Year Two | 5,731 | 8,574 |
Financing Receivable, Year Three | 8,230 | 3,840 |
Financing Receivable, Year Four | 3,810 | 1,850 |
Financing Receivable, Year Five | 1,684 | 571 |
Financing Receivable, Prior | 2,486 | 2,006 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 24,249 | 22,885 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 0 |
Current period gross charge-offs, Year Three | 0 | 0 |
Current period gross charge-offs, Year Four | 0 | 0 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 0 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Pass [Member] | ||
Financing Receivable, Year One | 2,308 | 6,044 |
Financing Receivable, Year Two | 5,731 | 8,574 |
Financing Receivable, Year Three | 8,230 | 3,840 |
Financing Receivable, Year Four | 3,810 | 1,850 |
Financing Receivable, Year Five | 1,684 | 571 |
Financing Receivable, Prior | 2,486 | 2,006 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 24,249 | 22,885 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Financing Receivable, Year One | 126 | 1,566 |
Financing Receivable, Year Two | 1,556 | 15,542 |
Financing Receivable, Year Three | 14,752 | 13,853 |
Financing Receivable, Year Four | 13,757 | 4,483 |
Financing Receivable, Year Five | 4,452 | 2,386 |
Financing Receivable, Prior | 11,091 | 8,850 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 45,734 | 46,680 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 0 |
Current period gross charge-offs, Year Three | 0 | 0 |
Current period gross charge-offs, Year Four | 0 | 0 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 2 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 0 | 2 |
Current period gross charge-offs | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Pass [Member] | ||
Financing Receivable, Year One | 126 | 1,566 |
Financing Receivable, Year Two | 1,556 | 15,542 |
Financing Receivable, Year Three | 14,752 | 13,853 |
Financing Receivable, Year Four | 13,407 | 4,483 |
Financing Receivable, Year Five | 4,452 | 2,386 |
Financing Receivable, Prior | 11,091 | 8,850 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 45,384 | 46,680 |
Residential Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 350 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 350 | 0 |
Residential Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Financing Receivable, Year One | 125 | 2,195 |
Financing Receivable, Year Two | 2,188 | 7,153 |
Financing Receivable, Year Three | 7,109 | 12,362 |
Financing Receivable, Year Four | 12,263 | 3,268 |
Financing Receivable, Year Five | 2,976 | 1,026 |
Financing Receivable, Prior | 14,749 | 14,451 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 39,410 | 40,455 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 0 |
Current period gross charge-offs, Year Three | 0 | 0 |
Current period gross charge-offs, Year Four | 0 | 0 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 0 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Pass [Member] | ||
Financing Receivable, Year One | 125 | 2,195 |
Financing Receivable, Year Two | 2,188 | 7,153 |
Financing Receivable, Year Three | 7,109 | 12,362 |
Financing Receivable, Year Four | 12,263 | 3,268 |
Financing Receivable, Year Five | 2,976 | 1,026 |
Financing Receivable, Prior | 14,749 | 14,451 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 39,410 | 40,455 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Current period gross charge-offs, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Year One | 204 | 1,062 |
Financing Receivable, Year Two | 900 | 35 |
Financing Receivable, Year Three | 33 | 122 |
Financing Receivable, Year Four | 120 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 196 | 205 |
Financing Receivable, Revolving | 4,713 | 4,738 |
Financing Receivable, Total | 6,166 | 6,162 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 0 |
Current period gross charge-offs, Year Three | 0 | 0 |
Current period gross charge-offs, Year Four | 0 | 0 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 0 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Pass [Member] | ||
Financing Receivable, Year One | 204 | 1,062 |
Financing Receivable, Year Two | 900 | 35 |
Financing Receivable, Year Three | 33 | 122 |
Financing Receivable, Year Four | 120 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 196 | 205 |
Financing Receivable, Revolving | 4,713 | 4,738 |
Financing Receivable, Total | 6,166 | 6,162 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Current period gross charge-offs, Total | 0 | 2 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Current period gross charge-offs, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Year One | 10,976 | 61,338 |
Financing Receivable, Year Two | 58,824 | 121,006 |
Financing Receivable, Year Three | 120,238 | 64,684 |
Financing Receivable, Year Four | 60,628 | 26,631 |
Financing Receivable, Year Five | 26,406 | 16,622 |
Financing Receivable, Prior | 54,126 | 38,897 |
Financing Receivable, Revolving | 2,742 | 1,996 |
Financing Receivable, Total | 333,940 | 331,174 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 0 |
Current period gross charge-offs, Year Three | 0 | 0 |
Current period gross charge-offs, Year Four | 0 | 134 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 0 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 0 | 134 |
Current period gross charge-offs | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Pass [Member] | ||
Financing Receivable, Year One | 10,976 | 61,338 |
Financing Receivable, Year Two | 58,824 | 121,006 |
Financing Receivable, Year Three | 119,668 | 64,684 |
Financing Receivable, Year Four | 60,628 | 26,631 |
Financing Receivable, Year Five | 26,406 | 16,571 |
Financing Receivable, Prior | 54,126 | 38,897 |
Financing Receivable, Revolving | 2,742 | 1,996 |
Financing Receivable, Total | 333,370 | 331,123 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 570 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 570 | 0 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 51 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 51 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Year One | 2,231 | 14,777 |
Financing Receivable, Year Two | 13,988 | 11,244 |
Financing Receivable, Year Three | 8,915 | 7,417 |
Financing Receivable, Year Four | 7,651 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 2,148 | 2,147 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 34,933 | 35,585 |
Current period gross charge-offs, Year One | 0 | 0 |
Current period gross charge-offs, Year Two | 0 | 0 |
Current period gross charge-offs, Year Three | 0 | 0 |
Current period gross charge-offs, Year Four | 0 | 0 |
Current period gross charge-offs, Year Five | 0 | 0 |
Current period gross charge-offs, Prior | 0 | 0 |
Current period gross charge-offs, Revolving | 0 | 0 |
Current period gross charge-offs, Total | 0 | 0 |
Current period gross charge-offs | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Financing Receivable, Year One | 2,231 | 14,777 |
Financing Receivable, Year Two | 13,988 | 11,244 |
Financing Receivable, Year Three | 8,915 | 7,417 |
Financing Receivable, Year Four | 7,651 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 32,785 | 33,438 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 2,148 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 2,148 | 0 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 2,147 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 2,147 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | 0 |
Financing Receivable, Year Two | 0 | 0 |
Financing Receivable, Year Three | 0 | 0 |
Financing Receivable, Year Four | 0 | 0 |
Financing Receivable, Year Five | 0 | 0 |
Financing Receivable, Prior | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Total | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Year One | 7,838 | |
Financing Receivable, Year Two | 5,672 | |
Financing Receivable, Year Three | 64,686 | |
Financing Receivable, Year Four | 26,745 | |
Financing Receivable, Year Five | 4,246 | |
Financing Receivable, Prior | 3,853 | |
Financing Receivable, Revolving | 11,068 | |
Financing Receivable, Total | 124,107 | |
Current period gross charge-offs, Year One | 0 | |
Current period gross charge-offs, Year Two | 0 | |
Current period gross charge-offs, Year Three | 318 | |
Current period gross charge-offs, Year Four | 20 | |
Current period gross charge-offs, Year Five | 0 | |
Current period gross charge-offs, Prior | 0 | |
Current period gross charge-offs, Revolving | 0 | |
Current period gross charge-offs, Total | 338 | |
Current period gross charge-offs | 318 | |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Year One | 7,838 | |
Financing Receivable, Year Two | 5,672 | |
Financing Receivable, Year Three | 64,670 | |
Financing Receivable, Year Four | 24,299 | |
Financing Receivable, Year Five | 4,212 | |
Financing Receivable, Prior | 2,288 | |
Financing Receivable, Revolving | 11,029 | |
Financing Receivable, Total | 120,008 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 398 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 39 | |
Financing Receivable, Total | 437 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 16 | |
Financing Receivable, Year Four | 2,048 | |
Financing Receivable, Year Five | 33 | |
Financing Receivable, Prior | 1,565 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 3,662 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | ||
Financing Receivable, Year One | 20,793 | |
Financing Receivable, Year Two | 69,913 | |
Financing Receivable, Year Three | 28,967 | |
Financing Receivable, Year Four | 4,324 | |
Financing Receivable, Year Five | 3,197 | |
Financing Receivable, Prior | 1,433 | |
Financing Receivable, Revolving | 13,593 | |
Financing Receivable, Total | 142,220 | |
Current period gross charge-offs, Year One | 0 | |
Current period gross charge-offs, Year Two | 29 | |
Current period gross charge-offs, Year Three | 613 | |
Current period gross charge-offs, Year Four | 97 | |
Current period gross charge-offs, Year Five | 0 | |
Current period gross charge-offs, Prior | 0 | |
Current period gross charge-offs, Revolving | 0 | |
Current period gross charge-offs, Total | 739 | |
Current period gross charge-offs | 613 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | Pass [Member] | ||
Financing Receivable, Year One | 20,793 | |
Financing Receivable, Year Two | 69,913 | |
Financing Receivable, Year Three | 27,022 | |
Financing Receivable, Year Four | 4,324 | |
Financing Receivable, Year Five | 1,955 | |
Financing Receivable, Prior | 1,109 | |
Financing Receivable, Revolving | 13,593 | |
Financing Receivable, Total | 138,709 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 1,946 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 1,242 | |
Financing Receivable, Prior | 323 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 3,511 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Year One | 66 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 66 | |
Current period gross charge-offs, Year One | 0 | |
Current period gross charge-offs, Year Two | 0 | |
Current period gross charge-offs, Year Three | 0 | |
Current period gross charge-offs, Year Four | 0 | |
Current period gross charge-offs, Year Five | 0 | |
Current period gross charge-offs, Prior | 0 | |
Current period gross charge-offs, Revolving | 0 | |
Current period gross charge-offs, Total | 0 | |
Current period gross charge-offs | 0 | |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Year One | 66 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 66 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | $ 0 | |
Consumer Portfolio Segment [Member] | Commercial Loan [Member] | ||
Financing Receivable, Year One | 69 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 69 | |
Current period gross charge-offs, Year One | 0 | |
Current period gross charge-offs, Year Two | 0 | |
Current period gross charge-offs, Year Three | 0 | |
Current period gross charge-offs, Year Four | 0 | |
Current period gross charge-offs, Year Five | 0 | |
Current period gross charge-offs, Prior | 0 | |
Current period gross charge-offs, Revolving | 0 | |
Current period gross charge-offs, Total | 0 | |
Current period gross charge-offs | 0 | |
Consumer Portfolio Segment [Member] | Commercial Loan [Member] | Pass [Member] | ||
Financing Receivable, Year One | 69 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 69 | |
Consumer Portfolio Segment [Member] | Commercial Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Consumer Portfolio Segment [Member] | Commercial Loan [Member] | Substandard [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | 0 | |
Consumer Portfolio Segment [Member] | Commercial Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Year One | 0 | |
Financing Receivable, Year Two | 0 | |
Financing Receivable, Year Three | 0 | |
Financing Receivable, Year Four | 0 | |
Financing Receivable, Year Five | 0 | |
Financing Receivable, Prior | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Total | $ 0 |
Note 6 - Loans Receivable, Ne_6
Note 6 - Loans Receivable, Net and Allowance for Credit Losses - Non-accrual Loans by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Nonaccrual, With Allowance | $ 33 | $ 0 |
Financing Receivable, Nonaccrual, No Allowance | 4,422 | 51 |
Financing Receivable, Nonaccrual | 4,455 | 51 |
Nonaccrual, 90 days and accruing | 3,262 | 401 |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual | 7,717 | 452 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Financing Receivable, Nonaccrual, With Allowance | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 |
Financing Receivable, Nonaccrual | 0 | 0 |
Nonaccrual, 90 days and accruing | 400 | 401 |
Residential Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual | 400 | 401 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loan [Member] | ||
Financing Receivable, Nonaccrual, With Allowance | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | 0 | 51 |
Financing Receivable, Nonaccrual | 0 | 51 |
Nonaccrual, 90 days and accruing | 947 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual | 947 | $ 51 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Nonaccrual, With Allowance | 0 | |
Financing Receivable, Nonaccrual, No Allowance | 0 | |
Financing Receivable, Nonaccrual | 0 | |
Nonaccrual, 90 days and accruing | 350 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual | 350 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | ||
Financing Receivable, Nonaccrual, With Allowance | 33 | |
Financing Receivable, Nonaccrual, No Allowance | 4,422 | |
Financing Receivable, Nonaccrual | 4,455 | |
Nonaccrual, 90 days and accruing | 1,565 | |
Commercial Portfolio Segment [Member] | Commercial Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Nonaccrual | $ 6,020 |
Note 6 - Loans Receivable, Ne_7
Note 6 - Loans Receivable, Net and Allowance for Credit Losses - Changes in the Allowance for Loan Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | ||||
Allowance for loan losses, beginning balance | $ 6,758 | $ 7,678 | $ 7,678 | |||
Charge-offs | (338) | (875) | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | 1,084 | [1] | 211 | (45) | [2] | |
Allowance for loan losses, ending balance | 7,504 | 6,758 | ||||
Individually evaluated for impairment | 33 | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||||||
Allowance for loan losses, beginning balance | 153 | 123 | 123 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | 13 | [1] | 30 | [2] | ||
Allowance for loan losses, ending balance | 166 | 153 | ||||
Individually evaluated for impairment | 0 | |||||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||||||
Allowance for loan losses, beginning balance | 219 | 295 | 295 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | (9) | [1] | (76) | [2] | ||
Allowance for loan losses, ending balance | 210 | 219 | ||||
Individually evaluated for impairment | 0 | |||||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||||||
Allowance for loan losses, beginning balance | 420 | 451 | 451 | |||
Charge-offs | 0 | (2) | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | 7 | [1] | (29) | [2] | ||
Allowance for loan losses, ending balance | 427 | 420 | ||||
Individually evaluated for impairment | 0 | |||||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||||||
Charge-offs | 0 | (134) | ||||
Individually evaluated for impairment | 0 | |||||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Allowance for loan losses, beginning balance | 583 | 304 | 304 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | (20) | [1] | 279 | [2] | ||
Allowance for loan losses, ending balance | 563 | 583 | ||||
Individually evaluated for impairment | 0 | |||||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||||||
Allowance for loan losses, beginning balance | 61 | 33 | 33 | |||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | 5 | [1] | 28 | [2] | ||
Allowance for loan losses, ending balance | 66 | 61 | ||||
Individually evaluated for impairment | 0 | |||||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Real Estate Portfolio Segment [Member] | Commercial Real Estate and Lines of Credit [Member] | ||||||
Allowance for loan losses, beginning balance | 2,784 | 3,750 | 3,750 | |||
Charge-offs | 0 | (134) | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | 97 | [1] | (832) | [2] | ||
Allowance for loan losses, ending balance | 2,881 | 2,784 | ||||
Real Estate Portfolio Segment [Member] | Commercial Real Estate and Lines of Credit [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Commercial and Consumer Portfolio Segments [Member] | ||||||
Allowance for loan losses, beginning balance | 2,538 | 2,422 | 2,422 | |||
Charge-offs | (338) | (739) | ||||
Recoveries | 0 | 0 | ||||
Provision(1) | 991 | [1] | 855 | [2] | ||
Allowance for loan losses, ending balance | 3,191 | 2,538 | ||||
Individually evaluated for impairment | 33 | |||||
Commercial and Consumer Portfolio Segments [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | 0 | 0 | ||||
Unallocated Financing Receivables [Member] | ||||||
Allowance for loan losses, beginning balance | $ 0 | 300 | 300 | |||
Charge-offs | 0 | |||||
Recoveries | 0 | |||||
Provision(1) | [2] | (300) | ||||
Allowance for loan losses, ending balance | 0 | |||||
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Allowance for loan losses, beginning balance | $ 0 | $ 0 | ||||
[1]Provision included in the table only includes the portion related to loans receivable. For the three months ended December 31, 2024, the total allowance for credit losses of $1.1 million includes an allowance of $52,000 for off balance sheet credit exposure, which is reflected in other liabilities on the Consolidated Balance Sheet.[2]Provision included in the table only includes the portion related to loans receivable. For the year ended December 31, 2023, the total recovery of credit losses of $157,000 includes a recovery of $202,000 for off balance sheet credit exposure, which is reflected in other liabilities on the Consolidated Balance Sheet. |
Note 6 - Loans Receivable, Ne_8
Note 6 - Loans Receivable, Net and Allowance for Credit Losses - Loan Portfolio Summarized by Past Due Status (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Loans | $ 608,605 | $ 625,230 | |
The 30 to 89 Days Delinquent [Member] | |||
Loans | 9,777 | 4,914 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 7,717 | 401 | |
Financial Asset, Not Past Due [Member] | |||
Loans | 591,111 | 619,915 | |
Real Estate Portfolio Segment [Member] | |||
Loans | 484,432 | 482,941 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | |||
Loans | 24,249 | 22,885 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 134 | 136 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 400 | 401 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 23,715 | 22,348 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | |||
Loans | 39,410 | 40,455 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 298 | 256 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 39,112 | 40,199 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | |||
Loans | 45,734 | 46,680 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 472 | 175 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 45,262 | 46,505 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||
Loans | 333,940 | 331,174 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 2,617 | 3,944 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 947 | 0 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 330,376 | 327,230 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 34,933 | 35,585 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 5,471 | 0 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 29,462 | 35,585 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Loans | 6,166 | 6,162 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 785 | 403 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 350 | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 5,031 | 5,759 | |
Commercial Portfolio Segment [Member] | |||
Loans | [1] | 124,107 | 142,220 |
Commercial Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 6,020 | 0 | |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | 118,087 | 142,220 | |
Consumer Portfolio Segment [Member] | |||
Loans | 66 | 69 | |
Consumer Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member] | |||
Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans | $ 66 | $ 69 | |
[1]Includes $163,000 and $214,000 of PPP loans at March 31, 2023 and December 31, 2022, respectively. |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangible, Net (Details Textual) - USD ($) | 3 Months Ended | |||||
Jan. 04, 2021 | Aug. 01, 2016 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 29, 2024 | Dec. 31, 2023 | |
Finite-Lived Intangible Assets, Net | $ 113,000 | $ 125,000 | ||||
Amortization of Intangible Assets | 12,000 | $ 12,000 | ||||
Other Intangible Assets [Member] | ||||||
Finite-Lived Intangible Assets, Net | 113,000 | 125,000 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 372,000 | $ 360,000 | ||||
Oakmont Capital Holdings, LLC [Member] | ||||||
Goodwill, Acquired During Period | $ 2,100,000 | |||||
Signature Insurance Services, LLC [Member] | ||||||
Goodwill, Acquired During Period | $ 515,000 | |||||
Payments to Acquire Businesses, Gross | 1,000,000 | |||||
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member] | ||||||
Finite-lived Intangible Assets Acquired | $ 485,000 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||
Oakmont Capital Holdings, LLC [Member] | ||||||
Disposal Group, Including Discontinued Operation, Ownership Sold | 51% | 51% |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Noninterest-Bearing Domestic Deposit, Checking | $ 112,791 | $ 92,216 | |
Interest-Bearing Domestic Deposit, Money Market | [1] | $ 215,850 | $ 218,525 |
One Customer [Member] | |||
Percentage of Non-Interest-Bearing Domestic Deposits to Deposits, Checking | 17.50% | 16.50% | |
Noninterest-Bearing Domestic Deposit, Checking | $ 118,400 | $ 104,300 | |
Percentage of Interest-Bearing Domestic Deposits to Deposits, Money Market | 22.20% | 23.70% | |
Interest-Bearing Domestic Deposit, Money Market | $ 150,000 | $ 150,000 | |
[1]The Company has identified one major money market deposit customer that accounted for approximately 22.2% and 23.7% of total deposits at March 31, 2024 and December 31, 2023, respectively. At both March 31, 2024 and December 31, 2023, the combined outstanding balances of the major deposit customer’s money market accounts totaled approximately $150.0 million. |
Note 8 - Deposits - Summary of
Note 8 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Noninterest-Bearing Domestic Deposit, Checking | $ 112,791 | $ 92,216 | |
Interest bearing checking accounts(1) | [1] | 118,403 | 104,274 |
Interest-Bearing Domestic Deposit, Money Market | [2] | 215,850 | 218,525 |
Certificates of deposit | 225,370 | 215,843 | |
Total deposits | 673,374 | 631,699 | |
Savings Accounts [Member] | |||
Interest-bearing deposits, amount | $ 960 | $ 841 | |
[1]The Company has identified one major interest bearing checking account deposit customer that accounted for approximately 17.5% and 16.5% of total deposits at March 31, 2024 and December 31, 2023, respectively. At March 31, 2024 and December 31, 2023, the combined outstanding balances of the major deposit customer’s interest bearing checking account totaled approximately $118.4 million and $104.3 million, respectively.[2]The Company has identified one major money market deposit customer that accounted for approximately 22.2% and 23.7% of total deposits at March 31, 2024 and December 31, 2023, respectively. At both March 31, 2024 and December 31, 2023, the combined outstanding balances of the major deposit customer’s money market accounts totaled approximately $150.0 million. |
Note 9 - Borrowings (Details Te
Note 9 - Borrowings (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 16, 2023 | Mar. 02, 2023 | Dec. 27, 2018 |
Subordinated Debt | $ 22,000 | $ 21,957 | $ 8,000 | ||
Subordinated Debt [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | 6.50% | |||
Debt Instrument, Face Amount | $ 2,000 | $ 12,000 | |||
Long-Term Debt | $ 22,000 | $ 22,000 |
Note 9 - Borrowings - Federal H
Note 9 - Borrowings - Federal Home Loan Bank Long-term Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
2024, amount | $ 15,100 | |
2024, weighted interest rate | 4.12% | |
2024, amount | $ 7,855 | $ 21,167 |
2024, weighted interest rate | 3.40% | 4.25% |
2025, amount | $ 7,855 | |
2025, weighted interest rate | 3.40% | |
Total FHLB long-term debt, amount | $ 22,955 | $ 29,022 |
Total FHLB long-term debt, weighted interest rate | 3.87% | 4.02% |
Note 10 - Stock Compensation _3
Note 10 - Stock Compensation Plans (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | ||||
May 31, 2023 | May 31, 2018 | May 31, 2013 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2018 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 668,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 years 1 month 6 days | |||||
Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | 10 years | ||||
Share-Based Payment Arrangement, Expense, after Tax | $ 20,000 | $ 11,000 | ||||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 1,000 | 1,000 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 years 1 month 6 days | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 332,000 | |||||
Share-Based Payment Arrangement, Option [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | 5 years | ||||
The 2013 Stock Incentive Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||||
The 2018 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 155,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||||
The 2018 Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 38,750 | |||||
Percentage of Shares May Be Granted As Restricted Stock Awards | 25% | |||||
The 2018 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 116,250 | |||||
The 2023 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 175,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 10,500 | |||||
The 2023 Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 43,750 | |||||
Percentage of Shares May Be Granted As Restricted Stock Awards | 25% | |||||
The 2023 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 131,250 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 36,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 224,033 | |||||
The 2018 and 2023 Stock Incentive Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | 45,000 | |||||
Stock Incentive Plans [Member] | ||||||
Share-Based Payment Arrangement, Expense, after Tax | $ 41,000 | 31,000 | ||||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 9,000 | $ 7,000 | ||||
Employee Stock Ownership Plan [Member] | ||||||
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP (in shares) | 0 | 0 | ||||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 0 | $ 0 |
Note 10 - Stock Compensation _4
Note 10 - Stock Compensation Plans - Status of Shares Under the RRP and Stock Incentive Plan (Details) - The RRP and Stock Incentive Plan [Member] - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2024 $ / shares shares | |
Unvested, number of shares (in shares) | shares | 45,000 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 18 |
Granted, number of shares (in shares) | shares | 0 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Vested, number of shares (in shares) | shares | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Forfeited, number of shares (in shares) | shares | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Unvested, number of shares (in shares) | shares | 45,000 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 18 |
Note 10 - Stock Compensation _5
Note 10 - Stock Compensation Plans - Summary of Option Activity (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Outstanding (in shares) | 332,000 | |
The Option Plan and Stock Incentive Plan [Member] | ||
Outstanding (in shares) | 224,033 | |
Outstanding, weighted average (in dollars per share) | $ 15.98 | |
Outstanding at end of period, weighted average remaining contractual life (Year) | 8 years 7 months 6 days | 8 years 7 months 6 days |
Granted, number of shares (in shares) | 0 | |
Granted, weighted average exercise price (in dollars per share) | $ 0 | |
Exercised, number of shares (in shares) | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Forfeited, number of shares (in shares) | 0 | |
Forfeited, weighted average exercise price (in dollars per share) | $ 0 | |
Outstanding (in shares) | 224,033 | 224,033 |
Outstanding, weighted average (in dollars per share) | $ 15.98 | $ 15.98 |
Exercisable at end of period (in shares) | 91,533 | |
Exercisable at end of period, weighted average exercise price (in dollars per share) | $ 13.3 | |
Exercisable at end of period, weighted average remaining contractual life (Year) | 4 years 1 month 6 days |
Note 11 - Fair Value Measurem_3
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments - Financial Assets and Liabilities on a Recurring and Nonrecurring (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Investment securities available for sale | $ 2,201 | $ 2,341 |
Fair Value, Recurring [Member] | ||
Investment securities available for sale | 2,201 | 2,341 |
Total fair value measurements | 2,201 | 2,341 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale | 0 | 0 |
Total fair value measurements | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | 2,201 | 2,341 |
Total fair value measurements | 2,201 | 2,341 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale | 0 | 0 |
Total fair value measurements | 0 | 0 |
Fair Value, Nonrecurring [Member] | ||
Total fair value measurements | 33 | |
Fair Value, Nonrecurring [Member] | Nonperforming Financial Instruments [Member] | ||
Collateral-dependent loans | 33 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total fair value measurements | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Nonperforming Financial Instruments [Member] | ||
Collateral-dependent loans | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total fair value measurements | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Nonperforming Financial Instruments [Member] | ||
Collateral-dependent loans | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total fair value measurements | 33 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Nonperforming Financial Instruments [Member] | ||
Collateral-dependent loans | 33 | |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Government National Mortgage Association (GNMA) [Member] | ||
Investment securities available for sale | 2,129 | 2,268 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Government National Mortgage Association (GNMA) [Member] | Fair Value, Recurring [Member] | ||
Investment securities available for sale | 2,129 | 2,268 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Government National Mortgage Association (GNMA) [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale | 0 | 0 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Government National Mortgage Association (GNMA) [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | 2,129 | 2,268 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Government National Mortgage Association (GNMA) [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale | 0 | 0 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Federal National Mortgage Association (FNMA) [Member] | ||
Investment securities available for sale | 72 | 73 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Federal National Mortgage Association (FNMA) [Member] | Fair Value, Recurring [Member] | ||
Investment securities available for sale | 72 | 73 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Federal National Mortgage Association (FNMA) [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available for sale | 0 | 0 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Federal National Mortgage Association (FNMA) [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available for sale | 72 | 73 |
Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Federal National Mortgage Association (FNMA) [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available for sale | $ 0 | $ 0 |
Note 11 - Fair Value Measurem_4
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments - Additional Information on Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Appraisal of Collateral [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands | Mar. 31, 2024 USD ($) |
Collateral-dependent loans | $ 33 |
Meaurement Input, Appraisal Adjustments Rate [Member] | Weighted Average [Member] | |
Collateral-dependent loans | 0.08 |
Note 11 - Fair Value Measurem_5
Note 11 - Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Reported Value Measurement [Member] | ||
Investment in interest-earning time deposits | $ 912 | $ 1,912 |
Loans held for sale | 7,052 | 60,380 |
Loans receivable, net | 600,578 | 603,349 |
Deposits | 676,374 | 631,699 |
FHLB long-term borrowings | 22,955 | 29,022 |
Subordinated debt | 22,000 | 21,957 |
Estimate of Fair Value Measurement [Member] | ||
Investment in interest-earning time deposits | 975 | 1,981 |
Loans held for sale | 7,250 | 62,072 |
Loans receivable, net | 582,153 | 584,842 |
Deposits | 679,330 | 636,946 |
FHLB long-term borrowings | 22,921 | 29,001 |
Subordinated debt | 21,376 | 20,666 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment in interest-earning time deposits | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans receivable, net | 0 | 0 |
Deposits | 448,003 | 415,855 |
FHLB long-term borrowings | 0 | 0 |
Subordinated debt | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment in interest-earning time deposits | 0 | 0 |
Loans held for sale | 7,250 | 62,072 |
Loans receivable, net | 0 | 0 |
Deposits | 0 | 0 |
FHLB long-term borrowings | 0 | 0 |
Subordinated debt | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment in interest-earning time deposits | 975 | 1,981 |
Loans held for sale | 0 | 0 |
Loans receivable, net | 582,153 | 584,842 |
Deposits | 231,327 | 221,091 |
FHLB long-term borrowings | 22,921 | 29,001 |
Subordinated debt | $ 21,376 | $ 20,666 |