Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 08, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Prime Meridian Holding Co | |
Entity Central Index Key | 1,586,454 | |
Trading Symbol | pmhg | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 3,130,695 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Ex Transition Period | true |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 9,086 | $ 6,971 |
Federal funds sold | 42,152 | 20,148 |
Interest-bearing deposits | 5,537 | 5,278 |
Total cash and cash equivalents | 56,775 | 32,397 |
Securities available for sale | 44,359 | 49,809 |
Loans held for sale | 6,782 | 5,880 |
Loans, net of allowance for loan losses of $3,674 and $3,136 | 289,022 | 250,259 |
Federal Home Loan Bank stock | 355 | 316 |
Premises and equipment, net | 4,699 | 4,872 |
Accrued interest receivable | 1,028 | 978 |
Bank-owned life insurance | 1,789 | 1,757 |
Other assets | 1,149 | 912 |
Total assets | 405,958 | 347,180 |
Liabilities: | ||
Noninterest-bearing demand deposits | 83,296 | 76,216 |
Savings, NOW and money-market deposits | 230,817 | 200,027 |
Time deposits | 41,133 | 22,054 |
Total deposits | 355,246 | 298,297 |
Official checks | 865 | 1,146 |
Other liabilities | 984 | 764 |
Total liabilities | 357,095 | 300,207 |
Stockholders' equity: | ||
Preferred stock, undesignated; 1,000,000 shares authorized, none issued or outstanding | ||
Common stock, $.01 par value; 9,000,000 shares authorized, 3,128,671 and 3,118,977 issued and outstanding | 31 | 31 |
Additional paid-in capital | 38,179 | 37,953 |
Retained earnings | 11,747 | 9,285 |
Accumulated other comprehensive loss | (1,094) | (296) |
Total stockholders' equity | 48,863 | 46,973 |
Total liabilities and stockholders' equity | $ 405,958 | $ 347,180 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans receivable, allowance for loan losses | $ 3,674 | $ 3,136 |
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) | 3,128,671 | 3,118,977 |
Common stock, shares outstanding (in shares) | 3,128,671 | 3,118,977 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Interest income: | |||||
Loans | $ 3,798 | $ 3,025 | $ 10,615 | $ 8,498 | |
Securities | 276 | 252 | 851 | 709 | |
Other | 198 | 114 | 354 | 271 | |
Total interest income | 4,272 | 3,391 | 11,820 | 9,478 | |
Interest expense- | |||||
Deposits | 662 | 326 | 1,559 | 829 | |
Net interest income | 3,610 | 3,065 | 10,261 | 8,649 | |
Provision for loan losses | 135 | 32 | 544 | 187 | |
Net interest income after provision for loan losses | 3,475 | 3,033 | 9,717 | 8,462 | |
Noninterest income: | |||||
Mortgage banking revenue | 124 | 80 | 339 | 316 | |
Income from bank-owned life insurance | 11 | 12 | 32 | 35 | |
Loss on sale of securities available for sale | (1) | ||||
Other income | 120 | 88 | 332 | 258 | |
Total noninterest income | 338 | 260 | 962 | 849 | |
Noninterest expense: | |||||
Salaries and employee benefits | 1,341 | 1,053 | 3,787 | 3,107 | |
Occupancy and equipment | 237 | 247 | 698 | 727 | |
Professional fees | 86 | 90 | 267 | 235 | |
Marketing | 193 | 129 | 533 | 440 | |
FDIC/State assessment | 38 | 35 | 112 | 123 | |
Software maintenance, amortization and other | 167 | 132 | 474 | 394 | |
Other | 396 | 321 | 1,125 | 977 | |
Total noninterest expense | 2,458 | 2,007 | 6,996 | 6,003 | |
Earnings before income taxes | 1,355 | 1,286 | 3,683 | 3,308 | |
Income taxes | 337 | 464 | 909 | 1,185 | |
Net earnings | $ 1,018 | $ 822 | $ 2,774 | $ 2,123 | |
Earnings per common share: | |||||
Basic (in dollars per share) | $ 0.33 | $ 0.26 | $ 0.89 | $ 0.83 | |
Diluted (in dollars per share) | 0.33 | 0.26 | 0.89 | 0.83 | |
Cash dividends per common share(1) (in dollars per share) | [1] | $ 0.10 | $ 0.07 | ||
Deposit Account [Member] | |||||
Noninterest income: | |||||
Service charges and fees on deposit accounts | $ 83 | $ 80 | $ 259 | $ 241 | |
[1] | Annual cash dividends were paid during the first quarters of 2017 and 2018 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net earnings | $ 1,018 | $ 822 | $ 2,774 | $ 2,123 |
Change in unrealized (loss) gain on securities: | ||||
Unrealized (loss) gain arising during the period | (231) | 5 | (1,069) | 338 |
Reclassification adjustment for realized loss | 1 | |||
Net change in unrealized (loss) gain | (231) | 5 | (1,069) | 339 |
Deferred income tax benefit (expense) on above change | 59 | (2) | 271 | (126) |
Total other comprehensive (loss) income | (172) | 3 | (798) | 213 |
Comprehensive income | $ 846 | $ 825 | $ 1,976 | $ 2,336 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance (in shares) at Dec. 31, 2016 | 2,004,707 | ||||
Beginning balance at Dec. 31, 2016 | $ 20 | $ 20,732 | $ 6,563 | $ (233) | $ 27,082 |
Net earnings (unaudited) | 2,123 | 2,123 | |||
Dividends paid (unaudited) | (140) | (140) | |||
Net change in unrealized gain on securities available for sale, net of income taxes (unaudited) | 213 | 213 | |||
Stock options exercised (unaudited) (in shares) | 2,600 | ||||
Stock options exercised (unaudited) | 26 | 26 | |||
Common stock issued as compensation to directors (unaudited) (in shares) | 3,104 | ||||
Stock Issued During Period, Value, Share-based Compensation, Gross | 51 | 51 | |||
Sale of common stock net of stock offering costs $1,043 (unaudited) (in shares) | 1,090,908 | ||||
Sale of common stock net of stock offering costs $1,043 (unaudited) | $ 11 | 16,946 | 16,957 | ||
Stock-based compensation (unaudited) | 15 | 15 | |||
Ending balance (unaudited) (in shares) at Sep. 30, 2017 | 3,101,319 | ||||
Ending balance (unaudited) at Sep. 30, 2017 | $ 31 | 37,770 | 8,546 | (20) | $ 46,327 |
Ending balance (unaudited) (in shares) at Dec. 31, 2017 | 3,118,977 | 3,118,977 | |||
Ending balance (unaudited) at Dec. 31, 2017 | $ 31 | 37,953 | 9,285 | (296) | $ 46,973 |
Net earnings (unaudited) | 2,774 | 2,774 | |||
Dividends paid (unaudited) | (312) | (312) | |||
Net change in unrealized gain on securities available for sale, net of income taxes (unaudited) | (798) | (798) | |||
Stock options exercised (unaudited) (in shares) | 7,500 | ||||
Stock options exercised (unaudited) | 75 | 75 | |||
Common stock issued as compensation to directors (unaudited) (in shares) | 2,194 | ||||
Stock Issued During Period, Value, Share-based Compensation, Gross | 46 | 46 | |||
Stock-based compensation (unaudited) | 105 | $ 105 | |||
Ending balance (unaudited) (in shares) at Sep. 30, 2018 | 3,128,671 | 3,128,671 | |||
Ending balance (unaudited) at Sep. 30, 2018 | $ 31 | $ 38,179 | $ 11,747 | $ (1,094) | $ 48,863 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Additional Paid-in Capital [Member] | |
Sale of common stock, offering costs | $ 1,043 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net earnings | $ 2,774 | $ 2,123 |
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 397 | 390 |
Provision for loan losses | 544 | 187 |
Net amortization of deferred loan fees | 23 | (118) |
Loss on sale of securities available for sale | 1 | |
Amortization of premiums and discounts on securities available for sale | 303 | 310 |
Gain on sale of loans held for sale | (339) | (316) |
Proceeds from the sale of loans held for sale | 58,532 | 48,413 |
Loans originated as held for sale | (59,095) | (52,265) |
Stock issued as compensation | 46 | 51 |
Stock-based compensation expense | 105 | 15 |
Income from bank-owned life insurance | (32) | (35) |
Net increase in accrued interest receivable | (50) | (77) |
Net decrease (increase) in other assets | 34 | (153) |
Net decrease in other liabilities and official checks | (61) | (12) |
Net cash provided by (used in) operating activities | 3,181 | (1,486) |
Cash flows from investing activities: | ||
Loan originations, net of principal repayments | (39,330) | (22,461) |
Purchase of securities available for sale | (1,003) | (20,510) |
Principal repayments of securities available for sale | 4,542 | 4,099 |
Proceeds from sale of securities available for sale | 750 | |
Maturities and calls of securities available for sale | 539 | 48 |
Purchase of Federal Home Loan Bank stock | (39) | (96) |
Purchase of premises and equipment | (224) | (396) |
Net cash used in investing activities | (35,515) | (38,566) |
Cash flows from financing activities: | ||
Net increase in deposits | 56,949 | 21,367 |
Proceeds from stock options exercised | 75 | 26 |
Proceeds from sale of common stock, net | 16,957 | |
Common stock dividends paid | (312) | (140) |
Net cash provided by financing activities | 56,712 | 38,210 |
Net increase (decrease) in cash and cash equivalents | 24,378 | (1,842) |
Cash and cash equivalents at beginning of period | 32,397 | 36,165 |
Cash and cash equivalents at end of period | 56,775 | 34,323 |
Supplemental disclosure of cash flow information | ||
Interest | 1,529 | 827 |
Income taxes | 882 | 1,223 |
Noncash transaction- | ||
Accumulated other comprehensive loss, net change in unrealized (loss) gain on securities available for sale, net of taxes | $ (798) | $ 213 |
Note 1 - General
Note 1 - General | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Prime Meridian Holding Company (“PMHG”) owns 100% three The accounting and financial reporting policies of the Company conform, in all material respects, to accounting principles generally accepted in the United States (“GAAP”) and to general practices within the banking industry. The condensed consolidated financial statements in the Quarterly Report on Form 10 not 10 not December 31, 2017, 10 March 20, 2018. three nine September 30, 2018 not Comprehensive Incom e . S tock - Based Compensation. Mortgage Banking Revenue. Reclassifications. Recent Accounting Standards Update. January 2016, No. 2016 01, Financial Instruments-Overall (Subtopic 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities, December 15, 2017, not In February 2016, No. 2016 2, Leases (Topic 842 twelve December 15, 2018. In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. In January 2017, No. 2017 01, 805 not December 15, 2017. not In March 2017, No. 2017 08, No December 15, 2018. In June 2018, No. 2018 07, 718 718. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. The ASU supersedes Subtopic 505 50, December 15, 2018, no 606, |
Note 2 - Securities Available f
Note 2 - Securities Available for Sale | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 2 Securities Available for Sale Securities are classified according to management's intent. The amortized cost of securities and fair values are as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (in thousands) At September 30, 2018 U.S. Government agency securities $ 815 $ - $ (24 ) $ 791 Municipal securities 11,640 31 (209 ) 11,462 Mortgage-backed securities 33,369 16 (1,279 ) 32,106 Total $ 45,824 $ 47 $ (1,512 ) $ 44,359 At December 31, 2017 U.S. Government agency securities $ 1,251 $ 6 $ (8 ) $ 1,249 Municipal securities 12,340 128 (95 ) 12,373 Mortgage-backed securities 36,614 23 (450 ) 36,187 Total $ 50,205 $ 157 $ (553 ) $ 49,809 The following table summarizes the sale of securities available for sale. Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2018 2017 2018 2017 Proceeds from sale of securities $ - $ - $ - $ 750 Gross gains - - - - Gross losses - - - (1 ) Net loss on sale of securities $ - $ - $ - $ (1 ) Securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (in thousands) At September 30, 2018 Securities Available for Sale U.S. Government agency securities $ (4 ) $ 240 $ (20 ) $ 551 Municipal securities (116 ) 4,807 (93 ) 2,568 Mortgage-backed securities (185 ) 5,368 (1,094 ) 26,162 Total $ (305 ) $ 10,415 $ (1,207 ) $ 29,281 At December 31, 2017 Securities Available for Sale U.S. Government agency securities $ (8 ) $ 694 $ - $ - Municipal securities (36 ) 1,831 (59 ) 1,203 Mortgage-backed securities (308 ) 29,742 (142 ) 5,667 Total $ (352 ) $ 32,267 $ (201 ) $ 6,870 The unrealized losses at September 30, 2018 December 31, 2017 forty-one thirty-four not not not Fair Value Measurements Using Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (in thousands) At September 30, 2018 U.S. Government agency securities $ 791 $ - $ 791 $ - Municipal securities 11,462 - 11,462 - Mortgage-backed securities 32,106 - 32,106 - Total $ 44,359 $ - $ 44,359 $ - At December 31, 2017 U.S. Government agency securities $ 1,249 $ - $ 1,249 $ - Municipal securities 12,373 - 12,373 - Mortgage-backed securities 36,187 - 36,187 - Total $ 49,809 $ - $ 49,809 $ - During the three nine September 30, 2018 2017, no 1, 2 3. The scheduled maturities of securities are as follows: At September 30, 2018 Amortized Fair Cost Value (in thousands) Due in one to five years $ 3,871 $ 3,829 Due in five to ten years 5,873 5,859 Due after ten years 2,711 2,565 Mortgage-backed securities 33,369 32,106 Total $ 45,824 $ 44,359 |
Note 3 - Loans
Note 3 - Loans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 3 Loans Segments and classes of loans, excluding loans held for sale, are as follows: At September 30, At December 31, (in thousands) 2018 2017 Real estate mortgage loans: Commercial $ 84,161 $ 79,565 Residential and home equity 120,545 94,824 Construction 31,001 26,813 Total real estate mortgage loans 235,707 201,202 Commercial loans 49,563 44,027 Consumer and other loans 6,980 7,742 Total loans 292,250 252,971 Add (deduct): Net deferred loan costs 446 424 Allowance for loan losses (3,674 ) (3,136 ) Loans, net $ 289,022 $ 250,259 An analysis of the change in allowance for loan losses follows: Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other (in thousands) Commercial Equity Construction Loans Loans Total Three-Month Period Ended September 30, 2018 Beginning balance $ 1,001 $ 1,309 $ 400 $ 749 $ 82 $ 3,541 Provision (credit) for loan losses (61 ) 79 (12 ) 126 3 135 Net (charge-offs) recoveries - - (3 ) 1 - (2 ) Ending balance $ 940 $ 1,388 $ 385 $ 876 $ 85 $ 3,674 Three-Month Period Ended September 30, 2017 Beginning balance $ 811 $ 1,108 $ 338 $ 712 $ 59 $ 3,028 Provision (credit) for loan losses 49 (18 ) (51 ) 28 24 32 Net (charge-offs) recoveries - - - 12 - 12 Ending balance $ 860 $ 1,090 $ 287 $ 752 $ 83 $ 3,072 Nine-Month Period Ended September 30, 2018 Beginning balance $ 894 $ 1,097 $ 331 $ 724 $ 90 $ 3,136 Provision (credit) for loan losses 46 291 57 148 2 544 Net (charge-offs) recoveries - - (3 ) 4 (7 ) (6 ) Ending balance $ 940 $ 1,388 $ 385 $ 876 $ 85 $ 3,674 Nine-Month Period Ended September 30, 2017 Beginning balance $ 775 $ 1,074 $ 258 $ 714 $ 55 $ 2,876 Provision (credit) for loan losses 85 16 29 24 33 187 Net (charge-offs) recoveries - - - 14 (5 ) 9 Ending balance $ 860 $ 1,090 $ 287 $ 752 $ 83 $ 3,072 At September 30, 2018 Individually evaluated for impairment: Recorded investment $ 611 $ 247 $ - $ 208 $ 8 $ 1,074 Balance in allowance for loan losses $ - $ - $ - $ 208 $ 8 $ 216 Collectively evaluated for impairment: Recorded investment $ 83,550 $ 120,298 $ 31,001 $ 49,355 $ 6,972 $ 291,176 Balance in allowance for loan losses $ 940 $ 1,388 $ 385 $ 668 $ 77 $ 3,458 At December 31, 2017 Individually evaluated for impairment: Recorded investment $ - $ - $ - $ 134 $ - $ 134 Balance in allowance for loan losses $ - $ - $ - $ 134 $ - $ 134 Collectively evaluated for impairment: Recorded investment $ 79,565 $ 94,824 $ 26,813 $ 43,893 $ 7,742 $ 252,837 Balance in allowance for loan losses $ 894 $ 1,097 $ 331 $ 590 $ 90 $ 3,002 The Company has divided the loan portfolio into three five Real Estate Mortgage Loans. three Commercial. three five may five may five Residential and Home Equity. first second one four may 1 3 5 7 15 30 Construction. one two one ten not third may Commercial Loans. not third five may not one 504 7A 504 7A may Other factors of risk could include changes in the borrower's management and fluctuations in collateral value. Additionally, there may Cons umer and Other Loans . may not not Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other (in thousands) Commercial Equity Construction Loans Loans Total At September 30, 2018 Grade: Pass $ 78,766 $ 117,523 $ 31,001 $ 45,524 $ 6,886 $ 279,700 Special mention 4,784 2,861 - 3,042 86 10,773 Substandard 611 161 - 997 8 1,777 Doubtful - - - - - - Loss - - - - - - Total $ 84,161 $ 120,545 $ 31,001 $ 49,563 $ 6,980 $ 292,250 At December 31, 2017 Grade: Pass $ 74,560 $ 92,282 $ 26,356 $ 42,874 $ 7,715 $ 243,787 Special mention 4,382 2,122 298 591 27 7,420 Substandard 623 420 159 562 - 1,764 Doubtful - - - - - - Loss - - - - - - Total $ 79,565 $ 94,824 $ 26,813 $ 44,027 $ 7,742 $ 252,971 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Loans classified as substandard or special mention are reviewed quarterly by the Company for further deterioration or improvement to determine if they are appropriately classified and whether there is any impairment. All loans are graded upon initial issuance. Furthermore, construction loans, nonowner-occupied commercial real estate loans, and commercial loan relationships in excess of $500,000 Loans excluded from the review process above are generally classified as pass credits until: (a) they become past due; (b) management becomes aware of deterioration in the credit worthiness of the borrower; or (c) the client contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification as to special mention, substandard or even charged-off. The Company uses the following definitions for risk ratings: Pass Special Mention may not not Substandard not Doubtful one Loss not not no At September 30, 2018, four $179,000. Age analysis of past due loans is as follows: Accruing Loans Greater Than 30-59 Days 60-89 Days 90 Days Total Past Nonaccrual Total (in thousands) Past Due Past Due Past Due Due Current Loans Loans At September 30, 2018: Real estate mortgage loans: Commercial $ - $ - $ - $ - $ 84,161 $ - $ 84,161 Residential and home equity 135 - - 135 120,410 - 120,545 Construction - - - - 31,001 - 31,001 Commercial loans 16 - - 16 49,376 171 49,563 Consumer and other loans - - - - 6,972 8 6,980 Total $ 151 $ - $ - $ 151 $ 291,920 $ 179 $ 292,250 At December 31, 2017: Real estate mortgage loans: Commercial $ - $ 623 $ - $ 623 $ 78,942 $ - $ 79,565 Residential and home equity - 255 - 255 94,569 - 94,824 Construction - - - - 26,813 - 26,813 Commercial loans - - - - 43,893 134 44,027 Consumer and other loans - - - - 7,742 - 7,742 Total $ - $ 878 $ - $ 878 $ 251,959 $ 134 $ 252,971 The following summarizes the amount of impaired loans: With No Related Allowance Recorded With an Allowance Recorded Total Unpaid Unpaid Unpaid Contractual Contractual Contractual Recorded Principal Recorded Principal Related Recorded Principal Related (in thousands) Investment Balance Investment Balance Allowance Investment Balance Allowance At September 30, 2018: Real estate mortgage loans: Commercial $ 611 $ 611 $ - $ - $ - $ 611 $ 611 $ - Residential and home equity 247 247 - - - 247 247 - Commercial loans - - 208 208 208 208 208 208 Consumer and other loans - - 8 8 8 8 8 8 $ 858 $ 858 $ 216 $ 216 $ 216 $ 1,074 $ 1,074 $ 216 At December 31, 2017: Commercial loans $ - $ - $ 134 $ 134 $ 134 $ 134 $ 134 $ 134 Total $ - $ - $ 134 $ 134 $ 134 $ 134 $ 134 $ 134 The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows: Three Months Ended September 30, 2018 2017 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income (in thousands) Investment Recognized Received Investment Recognized Received Real estate mortgage loans: Commercial $ 611 $ 8 $ 8 $ - $ - $ - Residential and home equity 255 4 3 6 - Construction 1 - - 63 1 1 Commercial loans 159 1 2 22 - - Total $ 1,026 $ 13 $ 13 $ 85 $ 7 $ 1 Nine Months Ended September 30, 2018 2017 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income (in thousands) Investment Recognized Received Investment Recognized Received Real estate mortgage loans: Commercial $ 423 $ 8 $ 8 $ - $ - $ - Residential and home equity 141 5 3 375 28 28 Construction - - - 66 1 2 Commercial loans 154 1 4 56 - - Total $ 718 $ 14 $ 15 $ 497 $ 29 $ 30 There were no September 30, 2018 2017. The restructuring of a loan constitutes a troubled debt restructuring (“TDR”) if the creditor grants a concession to the debtor that it would not may not one nine September 30, 2018 2017. no September 30, 2018 2017. Nine Months Ended September 30, 2018 2017 Pre- Post- Current Pre- Post- Current Modification Modification Modification Modification Modification Modification Number Outstanding Outstanding Outstanding Number Outstanding Outstanding Outstanding of Recorded Recorded Recorded of Recorded Recorded Recorded Contracts Investment Investment Investment Contracts Investment Investment Investment (dollars in thousands) Troubled Debt Restructurings - Commercial real estate: Modified principal 1 $ 619 $ 611 $ 611 $ 1 $ 153 $ 169 $ 165 Total 1 $ 619 $ 611 $ 611 $ 1 $ 153 $ 169 $ 165 At September 30, 2018, $648,000 nine September 30, 2018 not |
Note 4 - Regulatory Capital
Note 4 - Regulatory Capital | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 4 Regulatory Capital The Bank is subject to various regulatory capital requirements administered by the banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Effective January 1, 2015, Changes that could affect the Bank going forward include additional constraints on the inclusion of deferred tax assets in capital and increased risk weightings for nonperforming loans and acquisition/development loans in regulatory capital. Beginning January 1, 2016, September 30, 2018, September 30, 2018 1.875%. 2.5% January 1, 2019. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and percentages (set forth in the table below) of total and Tier 1 1 September 30, 2018 As of September 30, 2018, 1 1 no Actual For Capital Adequacy Purposes For Well Capitalized Purposes (dollars in thousands) Amount Percentage Amount Percentage Amount Percentage As of September 30, 2018 Tier 1 Leverage Capital $ 36,388 9.21 % $ 15,805 4.00 % $ 19,757 5.00 % Common Equity Tier 1 Risk-based Capital 36,388 12.40 13,203 4.50 19,072 6.50 Tier 1 Risk-based Capital 36,388 12.40 17,605 6.00 23,473 8.00 Total Risk-based Capital 40,055 13.65 23,473 8.00 29,341 10.00 As of December 31, 2017 Tier 1 Leverage Capital $ 33,146 9.48 % $ 13,983 4.00 % $ 17,479 5.00 % Common Equity Tier 1 Risk-based Capital 33,146 12.80 11,654 4.50 16,834 6.50 Tier 1 Risk-based Capital 33,146 12.80 15,539 6.00 20,718 8.00 Total Risk-based Capital 36,282 14.01 20,718 8.00 25,898 10.00 |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 5 Earnings Per Share Earnings per share, (“EPS”) have been computed on the basis of the weighted-average number of shares of common stock outstanding. For the three nine September 30, 2018 2017, 2018 2017 Weighted- Per Weighted- Per Average Share Average Share (dollars in thousands, except per share amounts) Earnings Shares Amount Earnings Shares Amount Three Months Ending September 30: Basic EPS: Net earnings $ 1,018 3,127,038 $ 0.33 $ 822 3,100,309 $ 0.26 Effect of dilutive securities-incremental shares from assumed conversion of options 3,133 3,235 Diluted EPS: Net earnings $ 1,018 3,130,171 $ 0.33 $ 822 3,103,544 $ 0.26 Nine Months Ending September 30: Basic EPS: Net earnings $ 2,774 3,123,772 $ 0.89 $ 2,123 2,569,375 $ 0.83 Effect of dilutive securities-incremental shares from assumed conversion of options 7,882 9,218 Diluted EPS: Net earnings $ 2,774 3,131,654 $ 0.89 $ 2,123 2,578,593 $ 0.83 |
Note 6 - Stock Option Plans
Note 6 - Stock Option Plans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ( 6 Stock Option Plans The 2015 “2015 May 20, 2015 2015 may 500,000, no 15% During the first 2018, 15,667 December 31, 2017. 100% During the second 2018, 120,000 5 April 1, 2024 April 1, 2028. During the second 2018, 25,000 92,250 5 April 1, 2024 April 1, 2028. second 2018 10 As of September 30, 2018, 264,457 2015 204,844 Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at December 31, 2016 - $ - Options granted 11,540 17.03 Outstanding at September 30, 2017 11,540 $ 17.03 Outstanding at December 31, 2017 11,540 $ 17.03 Options granted 252,917 19.79 Outstanding at September 30, 2018 (in years) 264,457 $ 19.79 8.60 $ 430,000 Exercisable at September 30, 2018 (in years) 37,207 $ 17.93 3.05 $ 130,000 The fair value of shares vested and recognized as compensation expense was $105,000 $15,000 nine September 30, 2018 2017, September 30, 2018, $690,000 2015 54 The fair value of each option granted during the nine September 30, 2018 Weighted average risk-free interest rate 1.47 - 2.63% Expected dividend yield 0.41 - 0.50% Expected stock volatility 10.07 - 11.90% Expected life in years 2.5 - 6.5 Per share fair value of options issued during period $1.49 - $3.35 The Company used the guidance in Staff Accounting Bulletin No. 107 As of May 20, 2015, no 2007 “2007 2007 2007 Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at December 31, 2016 42,200 $ 10.16 Options exercised (2,600 ) 10.00 Options forfeited (200 ) 10.00 Outstanding at September 30, 2017 39,400 $ 10.17 Options exercised (16,850 ) $ 10.00 Options forfeited (350 ) $ 10.00 Outstanding at December 31, 2017 22,200 $ 10.31 Options exercised (7,500 ) 10.00 Outstanding at September 30, 2018 (in years) 14,700 $ 10.46 1.20 $ 161,000 Exercisable at September 30, 2018 (in years) 14,700 $ 10.46 1.20 $ 161,000 At September 30, 2018, no 2007 In 2012, 110% no 74,805 nine September 30, 2018 2017, 2,194 3,104 110% $46,000 $51,000, September 30, 2018, 55,908 |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank Advances | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Federal Home Loan Bank, Advances [Text Block] | ( 7 Federal Home Loan Bank Advances Federal Home Loan Bank (“FHLB”) advances are collateralized by a blanket lien on qualifying residential real estate, commercial real estate, home equity lines of credit and multi-family loans. Under this blanket lien, the Company could borrow up to $37.9 September 30, 2018. September 30, 2018 December 31, 2017, no |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 8 Fair Value of Financial Instruments The estimated fair values and fair value measurement method with respect to the Company's financial instruments were as follows: At September 30, 2018 At December 31, 2017 Carrying Fair Carrying Fair (in thousands) Level Amount Value Amount Value Financial assets: Cash and cash equivalents 1 $ 56,775 $ 56,775 $ 32,397 $ 32,397 Securities available for sale 2 44,359 44,359 49,809 49,809 Loans held for sale 3 6,782 6,822 5,880 6,039 Loans, net 3 289,022 285,506 250,259 249,628 Federal Home Loan Bank stock 3 355 355 316 316 Accrued interest receivable 3 1,028 1,028 978 978 Financial liabilities- Deposits 3 355,246 355,553 298,297 298,403 Off-Balance Sheet Items 3 - - - - Discussion regarding the assumptions used to compute the estimated fair values of financial instruments can be found in Note 1 10 December 31, 2017. |
Note 9 - Off-balance Sheet Fina
Note 9 - Off-balance Sheet Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Off-balance Sheet Financial Instruments [Text Block] | ( 9 B alance S heet Financial Instruments The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its clients. These financial instruments are commitments to extend credit, construction loans in process, unused lines of credit, standby letters of credit, and guaranteed accounts and may The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for available lines of credit, construction loans in process and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. Commitments to extend credit, construction loans in process and unused lines of credit are agreements to lend to a client as long as there is no may not Standby letters of credit are written conditional commitments issued by the Company to guarantee the performance of a client to a third third one not third $565,000 September 30, 2018. Guaranteed accounts are irrevocable standby letters of credit issued by us to guarantee a client’s credit line with our third 10%. Standby letters of credit and commitments to extend credit typically result in loans with a market interest rate when funded. The maximum potential amount of future payments we could be required to make for off-balance sheet financial instruments is represented by the dollar amount disclosed in the table below. At September 30, 2018 (in thousands) Commitments to extend credit $ 5,670 Construction loans in process $ 16,280 Unused lines of credit $ 41,954 Standby letters of credit $ 2,312 Guaranteed accounts $ 1,329 |
Note 10 - Premises and Equipmen
Note 10 - Premises and Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 10 Effective August 6, 2018, 1471 32312. 15 four five September 28, 2018. six March 28, 2019. 120 Years Annual Rent Amount 1 - 5 $ 294,000 6 - 10 $ 323,400 11 - 15 $ 355,740 Prior to the Rent Commencement Date, the Bank will pay rent in accordance with its prior lease as disclosed in the Company’s annual report on Form 10 December 31, 2017. The Lease is a fully net lease, with the Bank separately paying real and personal property taxes, all special and third |
Note 11 - Subsequent Event
Note 11 - Subsequent Event | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 11 Subsequent Event On October 10, 2018, 4 None not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Incom e . |
Share-based Compensation, Option and Incentive Plans, Director Policy [Policy Text Block] | S tock - Based Compensation. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Banking Revenue. |
Reclassification, Policy [Policy Text Block] | Reclassifications. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards Update. January 2016, No. 2016 01, Financial Instruments-Overall (Subtopic 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities, December 15, 2017, not In February 2016, No. 2016 2, Leases (Topic 842 twelve December 15, 2018. In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. In January 2017, No. 2017 01, 805 not December 15, 2017. not In March 2017, No. 2017 08, No December 15, 2018. In June 2018, No. 2018 07, 718 718. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. The ASU supersedes Subtopic 505 50, December 15, 2018, no 606, |
Note 2 - Securities Available_2
Note 2 - Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (in thousands) At September 30, 2018 U.S. Government agency securities $ 815 $ - $ (24 ) $ 791 Municipal securities 11,640 31 (209 ) 11,462 Mortgage-backed securities 33,369 16 (1,279 ) 32,106 Total $ 45,824 $ 47 $ (1,512 ) $ 44,359 At December 31, 2017 U.S. Government agency securities $ 1,251 $ 6 $ (8 ) $ 1,249 Municipal securities 12,340 128 (95 ) 12,373 Mortgage-backed securities 36,614 23 (450 ) 36,187 Total $ 50,205 $ 157 $ (553 ) $ 49,809 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2018 2017 2018 2017 Proceeds from sale of securities $ - $ - $ - $ 750 Gross gains - - - - Gross losses - - - (1 ) Net loss on sale of securities $ - $ - $ - $ (1 ) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less Than Twelve Months Over Twelve Months Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (in thousands) At September 30, 2018 Securities Available for Sale U.S. Government agency securities $ (4 ) $ 240 $ (20 ) $ 551 Municipal securities (116 ) 4,807 (93 ) 2,568 Mortgage-backed securities (185 ) 5,368 (1,094 ) 26,162 Total $ (305 ) $ 10,415 $ (1,207 ) $ 29,281 At December 31, 2017 Securities Available for Sale U.S. Government agency securities $ (8 ) $ 694 $ - $ - Municipal securities (36 ) 1,831 (59 ) 1,203 Mortgage-backed securities (308 ) 29,742 (142 ) 5,667 Total $ (352 ) $ 32,267 $ (201 ) $ 6,870 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (in thousands) At September 30, 2018 U.S. Government agency securities $ 791 $ - $ 791 $ - Municipal securities 11,462 - 11,462 - Mortgage-backed securities 32,106 - 32,106 - Total $ 44,359 $ - $ 44,359 $ - At December 31, 2017 U.S. Government agency securities $ 1,249 $ - $ 1,249 $ - Municipal securities 12,373 - 12,373 - Mortgage-backed securities 36,187 - 36,187 - Total $ 49,809 $ - $ 49,809 $ - |
Available-for-sale Securities [Table Text Block] | At September 30, 2018 Amortized Fair Cost Value (in thousands) Due in one to five years $ 3,871 $ 3,829 Due in five to ten years 5,873 5,859 Due after ten years 2,711 2,565 Mortgage-backed securities 33,369 32,106 Total $ 45,824 $ 44,359 |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Portfolio of Loans [Table Text Block] | At September 30, At December 31, (in thousands) 2018 2017 Real estate mortgage loans: Commercial $ 84,161 $ 79,565 Residential and home equity 120,545 94,824 Construction 31,001 26,813 Total real estate mortgage loans 235,707 201,202 Commercial loans 49,563 44,027 Consumer and other loans 6,980 7,742 Total loans 292,250 252,971 Add (deduct): Net deferred loan costs 446 424 Allowance for loan losses (3,674 ) (3,136 ) Loans, net $ 289,022 $ 250,259 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other (in thousands) Commercial Equity Construction Loans Loans Total Three-Month Period Ended September 30, 2018 Beginning balance $ 1,001 $ 1,309 $ 400 $ 749 $ 82 $ 3,541 Provision (credit) for loan losses (61 ) 79 (12 ) 126 3 135 Net (charge-offs) recoveries - - (3 ) 1 - (2 ) Ending balance $ 940 $ 1,388 $ 385 $ 876 $ 85 $ 3,674 Three-Month Period Ended September 30, 2017 Beginning balance $ 811 $ 1,108 $ 338 $ 712 $ 59 $ 3,028 Provision (credit) for loan losses 49 (18 ) (51 ) 28 24 32 Net (charge-offs) recoveries - - - 12 - 12 Ending balance $ 860 $ 1,090 $ 287 $ 752 $ 83 $ 3,072 Nine-Month Period Ended September 30, 2018 Beginning balance $ 894 $ 1,097 $ 331 $ 724 $ 90 $ 3,136 Provision (credit) for loan losses 46 291 57 148 2 544 Net (charge-offs) recoveries - - (3 ) 4 (7 ) (6 ) Ending balance $ 940 $ 1,388 $ 385 $ 876 $ 85 $ 3,674 Nine-Month Period Ended September 30, 2017 Beginning balance $ 775 $ 1,074 $ 258 $ 714 $ 55 $ 2,876 Provision (credit) for loan losses 85 16 29 24 33 187 Net (charge-offs) recoveries - - - 14 (5 ) 9 Ending balance $ 860 $ 1,090 $ 287 $ 752 $ 83 $ 3,072 At September 30, 2018 Individually evaluated for impairment: Recorded investment $ 611 $ 247 $ - $ 208 $ 8 $ 1,074 Balance in allowance for loan losses $ - $ - $ - $ 208 $ 8 $ 216 Collectively evaluated for impairment: Recorded investment $ 83,550 $ 120,298 $ 31,001 $ 49,355 $ 6,972 $ 291,176 Balance in allowance for loan losses $ 940 $ 1,388 $ 385 $ 668 $ 77 $ 3,458 At December 31, 2017 Individually evaluated for impairment: Recorded investment $ - $ - $ - $ 134 $ - $ 134 Balance in allowance for loan losses $ - $ - $ - $ 134 $ - $ 134 Collectively evaluated for impairment: Recorded investment $ 79,565 $ 94,824 $ 26,813 $ 43,893 $ 7,742 $ 252,837 Balance in allowance for loan losses $ 894 $ 1,097 $ 331 $ 590 $ 90 $ 3,002 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other (in thousands) Commercial Equity Construction Loans Loans Total At September 30, 2018 Grade: Pass $ 78,766 $ 117,523 $ 31,001 $ 45,524 $ 6,886 $ 279,700 Special mention 4,784 2,861 - 3,042 86 10,773 Substandard 611 161 - 997 8 1,777 Doubtful - - - - - - Loss - - - - - - Total $ 84,161 $ 120,545 $ 31,001 $ 49,563 $ 6,980 $ 292,250 At December 31, 2017 Grade: Pass $ 74,560 $ 92,282 $ 26,356 $ 42,874 $ 7,715 $ 243,787 Special mention 4,382 2,122 298 591 27 7,420 Substandard 623 420 159 562 - 1,764 Doubtful - - - - - - Loss - - - - - - Total $ 79,565 $ 94,824 $ 26,813 $ 44,027 $ 7,742 $ 252,971 |
Past Due Financing Receivables [Table Text Block] | Accruing Loans Greater Than 30-59 Days 60-89 Days 90 Days Total Past Nonaccrual Total (in thousands) Past Due Past Due Past Due Due Current Loans Loans At September 30, 2018: Real estate mortgage loans: Commercial $ - $ - $ - $ - $ 84,161 $ - $ 84,161 Residential and home equity 135 - - 135 120,410 - 120,545 Construction - - - - 31,001 - 31,001 Commercial loans 16 - - 16 49,376 171 49,563 Consumer and other loans - - - - 6,972 8 6,980 Total $ 151 $ - $ - $ 151 $ 291,920 $ 179 $ 292,250 At December 31, 2017: Real estate mortgage loans: Commercial $ - $ 623 $ - $ 623 $ 78,942 $ - $ 79,565 Residential and home equity - 255 - 255 94,569 - 94,824 Construction - - - - 26,813 - 26,813 Commercial loans - - - - 43,893 134 44,027 Consumer and other loans - - - - 7,742 - 7,742 Total $ - $ 878 $ - $ 878 $ 251,959 $ 134 $ 252,971 |
Impaired Financing Receivables [Table Text Block] | With No Related Allowance Recorded With an Allowance Recorded Total Unpaid Unpaid Unpaid Contractual Contractual Contractual Recorded Principal Recorded Principal Related Recorded Principal Related (in thousands) Investment Balance Investment Balance Allowance Investment Balance Allowance At September 30, 2018: Real estate mortgage loans: Commercial $ 611 $ 611 $ - $ - $ - $ 611 $ 611 $ - Residential and home equity 247 247 - - - 247 247 - Commercial loans - - 208 208 208 208 208 208 Consumer and other loans - - 8 8 8 8 8 8 $ 858 $ 858 $ 216 $ 216 $ 216 $ 1,074 $ 1,074 $ 216 At December 31, 2017: Commercial loans $ - $ - $ 134 $ 134 $ 134 $ 134 $ 134 $ 134 Total $ - $ - $ 134 $ 134 $ 134 $ 134 $ 134 $ 134 |
Impaired Financing Receivables, Average Recorded Investment, and Interest Income Recognized [Table Text Block] | Three Months Ended September 30, 2018 2017 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income (in thousands) Investment Recognized Received Investment Recognized Received Real estate mortgage loans: Commercial $ 611 $ 8 $ 8 $ - $ - $ - Residential and home equity 255 4 3 6 - Construction 1 - - 63 1 1 Commercial loans 159 1 2 22 - - Total $ 1,026 $ 13 $ 13 $ 85 $ 7 $ 1 Nine Months Ended September 30, 2018 2017 Average Interest Interest Average Interest Interest Recorded Income Income Recorded Income Income (in thousands) Investment Recognized Received Investment Recognized Received Real estate mortgage loans: Commercial $ 423 $ 8 $ 8 $ - $ - $ - Residential and home equity 141 5 3 375 28 28 Construction - - - 66 1 2 Commercial loans 154 1 4 56 - - Total $ 718 $ 14 $ 15 $ 497 $ 29 $ 30 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Nine Months Ended September 30, 2018 2017 Pre- Post- Current Pre- Post- Current Modification Modification Modification Modification Modification Modification Number Outstanding Outstanding Outstanding Number Outstanding Outstanding Outstanding of Recorded Recorded Recorded of Recorded Recorded Recorded Contracts Investment Investment Investment Contracts Investment Investment Investment (dollars in thousands) Troubled Debt Restructurings - Commercial real estate: Modified principal 1 $ 619 $ 611 $ 611 $ 1 $ 153 $ 169 $ 165 Total 1 $ 619 $ 611 $ 611 $ 1 $ 153 $ 169 $ 165 |
Note 4 - Regulatory Capital (Ta
Note 4 - Regulatory Capital (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes For Well Capitalized Purposes (dollars in thousands) Amount Percentage Amount Percentage Amount Percentage As of September 30, 2018 Tier 1 Leverage Capital $ 36,388 9.21 % $ 15,805 4.00 % $ 19,757 5.00 % Common Equity Tier 1 Risk-based Capital 36,388 12.40 13,203 4.50 19,072 6.50 Tier 1 Risk-based Capital 36,388 12.40 17,605 6.00 23,473 8.00 Total Risk-based Capital 40,055 13.65 23,473 8.00 29,341 10.00 As of December 31, 2017 Tier 1 Leverage Capital $ 33,146 9.48 % $ 13,983 4.00 % $ 17,479 5.00 % Common Equity Tier 1 Risk-based Capital 33,146 12.80 11,654 4.50 16,834 6.50 Tier 1 Risk-based Capital 33,146 12.80 15,539 6.00 20,718 8.00 Total Risk-based Capital 36,282 14.01 20,718 8.00 25,898 10.00 |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2018 2017 Weighted- Per Weighted- Per Average Share Average Share (dollars in thousands, except per share amounts) Earnings Shares Amount Earnings Shares Amount Three Months Ending September 30: Basic EPS: Net earnings $ 1,018 3,127,038 $ 0.33 $ 822 3,100,309 $ 0.26 Effect of dilutive securities-incremental shares from assumed conversion of options 3,133 3,235 Diluted EPS: Net earnings $ 1,018 3,130,171 $ 0.33 $ 822 3,103,544 $ 0.26 Nine Months Ending September 30: Basic EPS: Net earnings $ 2,774 3,123,772 $ 0.89 $ 2,123 2,569,375 $ 0.83 Effect of dilutive securities-incremental shares from assumed conversion of options 7,882 9,218 Diluted EPS: Net earnings $ 2,774 3,131,654 $ 0.89 $ 2,123 2,578,593 $ 0.83 |
Note 6 - Stock Option Plans (Ta
Note 6 - Stock Option Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Weighted average risk-free interest rate 1.47 - 2.63% Expected dividend yield 0.41 - 0.50% Expected stock volatility 10.07 - 11.90% Expected life in years 2.5 - 6.5 Per share fair value of options issued during period $1.49 - $3.35 |
The 2007 Stock Option Plan [Member] | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at December 31, 2016 42,200 $ 10.16 Options exercised (2,600 ) 10.00 Options forfeited (200 ) 10.00 Outstanding at September 30, 2017 39,400 $ 10.17 Options exercised (16,850 ) $ 10.00 Options forfeited (350 ) $ 10.00 Outstanding at December 31, 2017 22,200 $ 10.31 Options exercised (7,500 ) 10.00 Outstanding at September 30, 2018 (in years) 14,700 $ 10.46 1.20 $ 161,000 Exercisable at September 30, 2018 (in years) 14,700 $ 10.46 1.20 $ 161,000 |
The 2015 Stock Incentive Compensation Plan [Member] | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at December 31, 2016 - $ - Options granted 11,540 17.03 Outstanding at September 30, 2017 11,540 $ 17.03 Outstanding at December 31, 2017 11,540 $ 17.03 Options granted 252,917 19.79 Outstanding at September 30, 2018 (in years) 264,457 $ 19.79 8.60 $ 430,000 Exercisable at September 30, 2018 (in years) 37,207 $ 17.93 3.05 $ 130,000 |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At September 30, 2018 At December 31, 2017 Carrying Fair Carrying Fair (in thousands) Level Amount Value Amount Value Financial assets: Cash and cash equivalents 1 $ 56,775 $ 56,775 $ 32,397 $ 32,397 Securities available for sale 2 44,359 44,359 49,809 49,809 Loans held for sale 3 6,782 6,822 5,880 6,039 Loans, net 3 289,022 285,506 250,259 249,628 Federal Home Loan Bank stock 3 355 355 316 316 Accrued interest receivable 3 1,028 1,028 978 978 Financial liabilities- Deposits 3 355,246 355,553 298,297 298,403 Off-Balance Sheet Items 3 - - - - |
Note 9 - Off-balance Sheet Fi_2
Note 9 - Off-balance Sheet Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | At September 30, 2018 (in thousands) Commitments to extend credit $ 5,670 Construction loans in process $ 16,280 Unused lines of credit $ 41,954 Standby letters of credit $ 2,312 Guaranteed accounts $ 1,329 |
Note 10 - Premises and Equipm_2
Note 10 - Premises and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Annual Rent Amount 1 - 5 $ 294,000 6 - 10 $ 323,400 11 - 15 $ 355,740 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) | 9 Months Ended |
Sep. 30, 2018 | |
Subsidiary, Ownership Percentage By Parent | 100.00% |
Number of Banking Offices | 3 |
Note 2 - Securities Available_3
Note 2 - Securities Available for Sale (Details Textual) | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 41 | 34 |
Note 2 - Securities Available_4
Note 2 - Securities Available for Sale - Summary of Carrying Amount and Fair Values of Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Amortized Cost | $ 45,824 | $ 50,205 |
Gross Unrealized Gains | 47 | 157 |
Gross Unrealized Losses | (1,512) | (553) |
Securities available for sale | 44,359 | 49,809 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 815 | 1,251 |
Gross Unrealized Gains | 6 | |
Gross Unrealized Losses | (24) | (8) |
Securities available for sale | 791 | 1,249 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 11,640 | 12,340 |
Gross Unrealized Gains | 31 | 128 |
Gross Unrealized Losses | (209) | (95) |
Securities available for sale | 11,462 | 12,373 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 33,369 | 36,614 |
Gross Unrealized Gains | 16 | 23 |
Gross Unrealized Losses | (1,279) | (450) |
Securities available for sale | $ 32,106 | $ 36,187 |
Note 2 - Securities Available_5
Note 2 - Securities Available for Sale - Summary of Sale of Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Proceeds from sale of securities | $ 750 | |||
Gross gains | ||||
Gross losses | (1) | |||
Net loss on sale of securities | $ (1) |
Note 2 - Securities Available_6
Note 2 - Securities Available for Sale - Summary of Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Gross Unrealized Losses, Less Than Twelve Months | $ (305) | $ (352) |
Fair Value, Less Than Twelve Months | 10,415 | 32,267 |
Gross Unrealized Losses, Over Twelve Months | (1,207) | (201) |
Fair Value, Over Twelve Months | 29,281 | 6,870 |
US Government Agencies Debt Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (4) | (8) |
Fair Value, Less Than Twelve Months | 240 | 694 |
Gross Unrealized Losses, Over Twelve Months | (20) | |
Fair Value, Over Twelve Months | 551 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (116) | (36) |
Fair Value, Less Than Twelve Months | 4,807 | 1,831 |
Gross Unrealized Losses, Over Twelve Months | (93) | (59) |
Fair Value, Over Twelve Months | 2,568 | 1,203 |
Collateralized Mortgage Backed Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (185) | (308) |
Fair Value, Less Than Twelve Months | 5,368 | 29,742 |
Gross Unrealized Losses, Over Twelve Months | (1,094) | (142) |
Fair Value, Over Twelve Months | $ 26,162 | $ 5,667 |
Note 2 - Securities Available_7
Note 2 - Securities Available for Sale - Securities Available for Sale Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities available for sale | $ 44,359 | $ 49,809 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 791 | 1,249 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 11,462 | 12,373 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 32,106 | 36,187 |
Fair Value, Measurements, Recurring [Member] | ||
Securities available for sale | 44,359 | 49,809 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 44,359 | 49,809 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 791 | 1,249 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 791 | 1,249 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 11,462 | 12,373 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 11,462 | 12,373 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 32,106 | 36,187 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | ||
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 32,106 | 36,187 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale |
Note 2 - Securities Available_8
Note 2 - Securities Available for Sale - Scheduled Maturities of Securities with Fair Value and Amortized Cost (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Due in one to five years, amortized cost | $ 3,871 | |
Due in one to five years, Fair value | 3,829 | |
Due in five to ten years, amortized cost | 5,873 | |
Due in five to ten years, Fair value | 5,859 | |
Due after ten years, amortized cost | 2,711 | |
Due after ten years, Fair value | 2,565 | |
Mortgage-backed securities, amortized cost | 33,369 | |
Mortgage-backed securities, Fair value | 32,106 | |
Total, amortized cost | 45,824 | $ 50,205 |
Total, Fair value | $ 44,359 | $ 49,809 |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Number of Loan Portfolio Segments | 3 | 3 | |||
Number of Portfolio Classes | 5 | 5 | |||
Impairment Valuation Loan Limit | $ 500,000 | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status, Number of Loans | 4 | 4 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 179,000 | $ 179,000 | $ 134,000 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 1 | 1 | |
Financing Receivable, Modifications, Recorded Investment | $ 648,000 | $ 648,000 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||
Nonperforming Financial Instruments [Member] | Collateral Pledged [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Loans Receivable, Fair Value Disclosure | $ 0 | $ 0 | $ 0 | $ 0 | |
Minimum [Member] | Loans Receivable [Member] | |||||
Loan Maturity Period | 1 year | ||||
Maximum [Member] | Loans Receivable [Member] | |||||
Loan Maturity Period | 10 years | ||||
Real Estate Mortgage Loans [Member] | |||||
Number of Portfolio Classes | 3 | 3 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Period of Fixed Interest Rate | 5 years | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |||
Financing Receivable, Modifications, Recorded Investment | $ 611,000 | $ 165,000 | $ 611,000 | $ 165,000 | |
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | |||||
Loan Maturity Period | 3 years | ||||
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | |||||
Loan Maturity Period | 5 years | ||||
Residential Portfolio Segment [Member] | Period 1 [Member] | |||||
Period of Fixed Interest Rate | 15 years | ||||
Period of Adjustment of Interest Rate | 1 year | ||||
Residential Portfolio Segment [Member] | Period 2 [Member] | |||||
Period of Fixed Interest Rate | 30 years | ||||
Period of Adjustment of Interest Rate | 3 years | ||||
Residential Portfolio Segment [Member] | Period 3 [Member] | |||||
Period of Adjustment of Interest Rate | 5 years | ||||
Residential Portfolio Segment [Member] | Period 4 [Member] | |||||
Period of Adjustment of Interest Rate | 7 years | ||||
Real Estate Construction Loan [Member] | Minimum [Member] | |||||
Loan Maturity Period | 1 year | ||||
Real Estate Construction Loan [Member] | Maximum [Member] | |||||
Loan Maturity Period | 2 years | ||||
Commercial Portfolio Segment [Member] | Maximum [Member] | Equipment Loans [Member] | |||||
Loan Maturity Period | 5 years |
Note 3 - Loans - Composition of
Note 3 - Loans - Composition of Company's Loan Portfolio, Excluding Loans Held for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Total loans | $ 292,250 | $ 252,971 | ||||
Net deferred loan costs | 446 | 424 | ||||
Allowance for loan losses | (3,674) | $ (3,541) | (3,136) | $ (3,072) | $ (3,028) | $ (2,876) |
Loans, net | 289,022 | 250,259 | ||||
Mortgage Receivable [Member] | ||||||
Total loans | 235,707 | 201,202 | ||||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Total loans | 84,161 | 79,565 | ||||
Allowance for loan losses | (940) | (1,001) | (894) | (860) | (811) | (775) |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||||||
Total loans | 120,545 | 94,824 | ||||
Allowance for loan losses | (1,388) | (1,309) | (1,097) | (1,090) | (1,108) | (1,074) |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||||||
Total loans | 31,001 | 26,813 | ||||
Allowance for loan losses | (385) | (400) | (331) | (287) | (338) | (258) |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||||||
Total loans | 49,563 | 44,027 | ||||
Allowance for loan losses | (876) | (749) | (724) | (752) | (712) | (714) |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||||||
Total loans | 6,980 | 7,742 | ||||
Allowance for loan losses | $ (85) | $ (82) | $ (90) | $ (83) | $ (59) | $ (55) |
Note 3 - Loans - Summary of Cha
Note 3 - Loans - Summary of Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Beginning balance | $ 3,541 | $ 3,028 | $ 3,136 | $ 2,876 | |
Provision (credit) for loan losses | 135 | 32 | 544 | 187 | |
Net (charge-offs) recoveries | (2) | 12 | (6) | 9 | |
Ending balance | 3,674 | 3,072 | 3,674 | 3,072 | |
Recorded investment, individually evaluated for impairment | 1,074 | 1,074 | $ 134 | ||
Balance in allowance for loan losses, individually evaluated for impairment | 216 | 216 | 134 | ||
Recorded investment, collectively evaluated for impairment | 291,176 | 291,176 | 252,837 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 3,458 | 3,458 | 3,002 | ||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 1,001 | 811 | 894 | 775 | |
Provision (credit) for loan losses | (61) | 49 | 46 | 85 | |
Net (charge-offs) recoveries | |||||
Ending balance | 940 | 860 | 940 | 860 | |
Recorded investment, individually evaluated for impairment | 611 | 611 | |||
Balance in allowance for loan losses, individually evaluated for impairment | |||||
Recorded investment, collectively evaluated for impairment | 83,550 | 83,550 | 79,565 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 940 | 940 | 894 | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | |||||
Beginning balance | 1,309 | 1,108 | 1,097 | 1,074 | |
Provision (credit) for loan losses | 79 | (18) | 291 | 16 | |
Net (charge-offs) recoveries | |||||
Ending balance | 1,388 | 1,090 | 1,388 | 1,090 | |
Recorded investment, individually evaluated for impairment | 247 | 247 | |||
Balance in allowance for loan losses, individually evaluated for impairment | |||||
Recorded investment, collectively evaluated for impairment | 120,298 | 120,298 | 94,824 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 1,388 | 1,388 | 1,097 | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | |||||
Beginning balance | 400 | 338 | 331 | 258 | |
Provision (credit) for loan losses | (12) | (51) | 57 | 29 | |
Net (charge-offs) recoveries | (3) | (3) | |||
Ending balance | 385 | 287 | 385 | 287 | |
Recorded investment, individually evaluated for impairment | |||||
Balance in allowance for loan losses, individually evaluated for impairment | |||||
Recorded investment, collectively evaluated for impairment | 31,001 | 31,001 | 26,813 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 385 | 385 | 331 | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | |||||
Beginning balance | 749 | 712 | 724 | 714 | |
Provision (credit) for loan losses | 126 | 28 | 148 | 24 | |
Net (charge-offs) recoveries | 1 | 12 | 4 | 14 | |
Ending balance | 876 | 752 | 876 | 752 | |
Recorded investment, individually evaluated for impairment | 208 | 208 | 134 | ||
Balance in allowance for loan losses, individually evaluated for impairment | 208 | 208 | 134 | ||
Recorded investment, collectively evaluated for impairment | 49,355 | 49,355 | 43,893 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 668 | 668 | 590 | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | |||||
Beginning balance | 82 | 59 | 90 | 55 | |
Provision (credit) for loan losses | 3 | 24 | 2 | 33 | |
Net (charge-offs) recoveries | (7) | (5) | |||
Ending balance | 85 | $ 83 | 85 | $ 83 | |
Recorded investment, individually evaluated for impairment | 8 | 8 | |||
Balance in allowance for loan losses, individually evaluated for impairment | 8 | 8 | |||
Recorded investment, collectively evaluated for impairment | 6,972 | 6,972 | 7,742 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | $ 77 | $ 77 | $ 90 |
Note 3 - Loans - Summary of Loa
Note 3 - Loans - Summary of Loan Credit Quality (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans by credit quality | $ 292,250 | $ 252,971 |
Pass [Member] | ||
Loans by credit quality | 279,700 | 243,787 |
Special Mention [Member] | ||
Loans by credit quality | 10,773 | 7,420 |
Substandard [Member] | ||
Loans by credit quality | 1,777 | 1,764 |
Doubtful [Member] | ||
Loans by credit quality | ||
Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | ||
Loans by credit quality | 235,707 | 201,202 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans by credit quality | 84,161 | 79,565 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 78,766 | 74,560 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 4,784 | 4,382 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 611 | 623 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||
Loans by credit quality | 120,545 | 94,824 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 117,523 | 92,282 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 2,861 | 2,122 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 161 | 420 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||
Loans by credit quality | 31,001 | 26,813 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Pass [Member] | ||
Loans by credit quality | 31,001 | 26,356 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Special Mention [Member] | ||
Loans by credit quality | 298 | |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Substandard [Member] | ||
Loans by credit quality | 159 | |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Doubtful [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||
Loans by credit quality | 49,563 | 44,027 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 45,524 | 42,874 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 3,042 | 591 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 997 | 562 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans by credit quality | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||
Loans by credit quality | 6,980 | 7,742 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 6,886 | 7,715 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 86 | 27 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 8 | |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans by credit quality | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality |
Note 3 - Loans - Summary of Pas
Note 3 - Loans - Summary of Past Due Loans (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Accruing Loans, Past Due | $ 151,000 | $ 878,000 |
Accruing Loans, Current | 291,920,000 | 251,959,000 |
Nonaccrual Loans | 179,000 | 134,000 |
Loans by credit quality | 292,250,000 | 252,971,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 151,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 878,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | ||
Loans by credit quality | 235,707,000 | 201,202,000 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accruing Loans, Past Due | 623,000 | |
Accruing Loans, Current | 84,161,000 | 78,942,000 |
Nonaccrual Loans | ||
Loans by credit quality | 84,161,000 | 79,565,000 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 623,000 | |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||
Accruing Loans, Past Due | 135,000 | 255,000 |
Accruing Loans, Current | 120,410,000 | 94,569,000 |
Nonaccrual Loans | ||
Loans by credit quality | 120,545,000 | 94,824,000 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 135,000 | |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 255,000 | |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||
Accruing Loans, Past Due | ||
Accruing Loans, Current | 31,001,000 | 26,813,000 |
Nonaccrual Loans | ||
Loans by credit quality | 31,001,000 | 26,813,000 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||
Accruing Loans, Past Due | 16,000 | |
Accruing Loans, Current | 49,376,000 | 43,893,000 |
Nonaccrual Loans | 171,000 | 134,000 |
Loans by credit quality | 49,563,000 | 44,027,000 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 16,000 | |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||
Accruing Loans, Past Due | ||
Accruing Loans, Current | 6,972,000 | 7,742,000 |
Nonaccrual Loans | 8,000 | |
Loans by credit quality | 6,980,000 | 7,742,000 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due |
Note 3 - Loans - Summary of Imp
Note 3 - Loans - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
With No Related Allowance Recorded, Recorded Investment | $ 858 | |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance | 858 | |
With an Allowance Recorded, Recorded Investment | 216 | 134 |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 216 | 134 |
Related Allowance | 216 | 134 |
Total Recorded Investment | 1,074 | 134 |
Total Unpaid Contractual Principal Balance | 1,074 | 134 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | 611 | |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance | 611 | |
With an Allowance Recorded, Recorded Investment | ||
With an Allowance Recorded, Unpaid Contractual Principal Balance | ||
Related Allowance | ||
Total Recorded Investment | 611 | |
Total Unpaid Contractual Principal Balance | 611 | |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | 247 | |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance | 247 | |
With an Allowance Recorded, Recorded Investment | ||
With an Allowance Recorded, Unpaid Contractual Principal Balance | ||
Related Allowance | ||
Total Recorded Investment | 247 | |
Total Unpaid Contractual Principal Balance | 247 | |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | ||
With No Related Allowance Recorded, Unpaid Contractual Principal Balance | ||
With an Allowance Recorded, Recorded Investment | 208 | 134 |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 208 | 134 |
Related Allowance | 208 | 134 |
Total Recorded Investment | 208 | 134 |
Total Unpaid Contractual Principal Balance | 208 | $ 134 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | ||
With No Related Allowance Recorded, Unpaid Contractual Principal Balance | ||
With an Allowance Recorded, Recorded Investment | 8 | |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 8 | |
Related Allowance | 8 | |
Total Recorded Investment | 8 | |
Total Unpaid Contractual Principal Balance | $ 8 |
Note 3 - Loans - Summary of Ave
Note 3 - Loans - Summary of Average Net Investment in Impaired Loans and Interest Income Recognized and Received on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Average Recorded Investment | $ 1,026 | $ 85 | $ 718 | $ 497 |
Interest Income Recognized | 13 | 7 | 14 | 29 |
Interest Income Received | 13 | 1 | 15 | 30 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 611 | 423 | ||
Interest Income Recognized | 8 | 8 | ||
Interest Income Received | 8 | 8 | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||||
Average Recorded Investment | 255 | 141 | 375 | |
Interest Income Recognized | 4 | 6 | 5 | 28 |
Interest Income Received | 3 | 3 | 28 | |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||||
Average Recorded Investment | 1 | 63 | 66 | |
Interest Income Recognized | 1 | 1 | ||
Interest Income Received | 1 | 2 | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 159 | 22 | 154 | 56 |
Interest Income Recognized | 1 | 1 | ||
Interest Income Received | $ 2 | $ 4 |
Note 3 - Loans - Summary of L_2
Note 3 - Loans - Summary of Loans Determined to Be Troubled Debt Restructurings (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Number of Contracts | 0 | 0 | 1 | 1 |
Current Modification Outstanding Recorded Investment | $ 648,000 | $ 648,000 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 619,000 | $ 153,000 | ||
Post-Modification Outstanding Recorded Investment | 611,000 | 169,000 | ||
Current Modification Outstanding Recorded Investment | 611,000 | $ 165,000 | $ 611,000 | $ 165,000 |
Commercial Real Estate Portfolio Segment [Member] | Modified Principal [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 619,000 | $ 153,000 | ||
Post-Modification Outstanding Recorded Investment | 611,000 | 169,000 | ||
Current Modification Outstanding Recorded Investment | $ 611,000 | $ 165,000 | $ 611,000 | $ 165,000 |
Note 4 - Regulatory Capital (De
Note 4 - Regulatory Capital (Details Textual) | Jan. 01, 2019 | Sep. 30, 2018 |
Percentage of Capital Conservation Buffer, Minimum Risk-based Capital Requirement | 1.875% | |
Scenario, Forecast [Member] | ||
Capital Conservation Buffer Rate | 2.50% |
Note 4 - Regulatory Capital - S
Note 4 - Regulatory Capital - Summary of Regulatory Capital Requirements and Bank's Capital Position (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Tier 1 Leverage Capital, actual amount | $ 36,388 | $ 33,146 |
Tier 1 Leverage Capital, actual percentage | 9.21% | 9.48% |
Tier 1 Leverage Capital, For Capital Adequacy Purposes, Amount | $ 15,805 | $ 13,983 |
Tier 1 Leverage Capital, For Capital Adequacy Purposes, Percentage | 4.00% | 4.00% |
Tier 1 Leverage Capital, For Well Capitalized Purposes, Amount | $ 19,757 | $ 17,479 |
Tier 1 Leverage Capital, For Well Capitalized Purposes, Percentage | 5.00% | 5.00% |
Common Equity Tier 1 Risk-based Capital, actual amount | $ 36,388 | $ 33,146 |
Common Equity Tier 1 Risk-based Capital, actual percentage | 12.40% | 12.80% |
Common Equity Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Amount | $ 13,203 | $ 11,654 |
Common Equity Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Percentage | 4.50% | 4.50% |
Common Equity Tier 1 Risk-based Capital, For Well Capitalized Purposes, Amount | $ 19,072 | $ 16,834 |
Common Equity Tier 1 Risk-based Capital, For Well Capitalized Purposes, Percentage | 6.50% | 6.50% |
Tier 1 Risk-based Capital, actual amount | $ 36,388 | $ 33,146 |
Tier 1 Risk-based Capital, actual percentage | 12.40% | 12.80% |
Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Amount | $ 17,605 | $ 15,539 |
Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Percentage | 6.00% | 6.00% |
Tier 1 Risk-based Capital, For Well Capitalized Purposes, Amount | $ 23,473 | $ 20,718 |
Tier 1 Risk-based Capital, For Well Capitalized Purposes, Percentage | 8.00% | 8.00% |
Total Risk-based Capital, actual amount | $ 40,055 | $ 36,282 |
Total Risk-based Capital, actual percentage | 13.65% | 14.01% |
Total Risk-based Capital, For Capital Adequacy Purposes, Amount | $ 23,473 | $ 20,718 |
Total Risk-based Capital, For Well Capitalized Purposes, Amount | $ 29,341 | $ 25,898 |
Total Risk-based Capital, For Well Capitalized Purposes, Percentage | 10.00% | 10.00% |
Note 5 - Earnings Per Share - C
Note 5 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net earnings, basic | $ 1,018 | $ 822 | $ 2,774 | $ 2,123 |
Weighted-average Shares, basic (in shares) | 3,127,038 | 3,100,309 | 3,123,772 | 2,569,375 |
Net earnings, per share amount, basic (in dollars per share) | $ 0.33 | $ 0.26 | $ 0.89 | $ 0.83 |
Effect of dilutive securities-incremental shares from assumed conversion of options (in shares) | 3,133 | 3,235 | 7,882 | 9,218 |
Net earnings, diluted | $ 1,018 | $ 822 | $ 2,774 | $ 2,123 |
Weighted-average Shares, diluted (in shares) | 3,130,171 | 3,103,544 | 3,131,654 | 2,578,593 |
Net earnings, per share amount, diluted (in dollars per share) | $ 0.33 | $ 0.26 | $ 0.89 | $ 0.83 |
Note 6 - Stock Option Plans (De
Note 6 - Stock Option Plans (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 40 Months Ended | ||
Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | |
Allocated Share-based Compensation Expense, Total | $ 105,000 | $ 15,000 | |||
Stock Issued During Period, Value, Share-based Compensation, Gross | $ 46,000 | $ 51,000 | |||
Incentive Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||
Incentive Stock Options [Member] | Chief Executive Officer [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 25,000 | 15,667 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | ||||
Incentive Stock Options [Member] | Remaining Employees [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 92,250 | ||||
Non-qualified Stock Options [Member] | Director [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 120,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||
The 2015 Stock Incentive Compensation Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 252,917 | 11,540 | 264,457 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 204,844 | 204,844 | |||
The 2015 Stock Incentive Compensation Plan [Member] | Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 500,000 | 500,000 | |||
Maximum Percentage of Shares Issued | 15.00% | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 690,000 | $ 690,000 | |||
Share-based Compensation Arrangement By Share-based Payment Award, Options, Nonvested, Weighted Average Remaining Contractual Term | 4 years 180 days | ||||
The 2007 Stock Option Plan [Member] | Employee Stock Option [Member] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 0 | $ 0 | |||
Directors' Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 74,805 | 74,805 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,194 | 3,104 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 55,908 | 55,908 | |||
Stock Consideration on Percentage of Common Stock Received Upon Cash Fees | 110.00% | 110.00% | |||
Stock Issued During Period, Value, Share-based Compensation, Gross | $ 46,000 | $ 51,000 |
Note 6 - Stock Option Plans - S
Note 6 - Stock Option Plans - Summary of the 2015 Plan (Details) - The 2015 Stock Incentive Compensation Plan [Member] - USD ($) | 9 Months Ended | 40 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | |
Number of Options, Outstanding, beginning balance (in shares) | 11,540 | ||
Weighted-average Exercise Price, Outstanding, beginning balance (in dollars per share) | $ 17.03 | ||
Number of Options, granted (in shares) | 252,917 | 11,540 | 264,457 |
Weighted-average Exercise Price, Options granted (in dollars per share) | $ 19.79 | $ 17.03 | |
Number of Options, Outstanding, ending balance (in shares) | 264,457 | 11,540 | 264,457 |
Weighted-average Exercise Price, Outstanding, ending balance (in dollars per share) | $ 19.79 | $ 17.03 | $ 19.79 |
Outstanding at September 30, 2018 (in years) (Year) | 8 years 219 days | ||
Outstanding at September 30, 2018 (in years) | $ 430,000 | $ 430,000 | |
Exercisable at September 30, 2018 (in years) (in shares) | 37,207 | 37,207 | |
Exercisable at September 30, 2018 (in years) (in dollars per share) | $ 17.93 | $ 17.93 | |
Exercisable at September 30, 2018 (in years) (Year) | 3 years 18 days | ||
Exercisable at September 30, 2018 (in years) | $ 130,000 | $ 130,000 |
Note 6 - Stock Option Plans - B
Note 6 - Stock Option Plans - Black-Scholes Option-pricing Model Assumptions (Details) | 9 Months Ended |
Sep. 30, 2018$ / shares | |
Minimum [Member] | |
Weighted average risk-free interest rate | 1.47% |
Expected dividend yield | 0.41% |
Expected stock volatility | 10.07% |
Expected life in years (Year) | 2 years 182 days |
Per share fair value of options issued during period (in dollars per share) | $ 1.49 |
Maximum [Member] | |
Weighted average risk-free interest rate | 2.63% |
Expected dividend yield | 0.50% |
Expected stock volatility | 11.90% |
Expected life in years (Year) | 6 years 182 days |
Per share fair value of options issued during period (in dollars per share) | $ 3.35 |
Note 6 - Stock Option Plans -_2
Note 6 - Stock Option Plans - Summary of the 2007 Stock Option Plan (Details) - The 2007 Stock Option Plan [Member] - USD ($) | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Number of Options, Outstanding, beginning balance (in shares) | 39,400 | 22,200 | 42,200 |
Weighted-average Exercise Price, Outstanding, beginning balance (in dollars per share) | $ 10.17 | $ 10.31 | $ 10.16 |
Number of Options, exercised (in shares) | (16,850) | (7,500) | (2,600) |
Weighted-average Exercise Price, Options exercised (in dollars per share) | $ 10 | $ 10 | $ 10 |
Number of Options, forfeited (in shares) | (350) | (200) | |
Weighted-average Exercise Price, Options forfeited (in dollars per share) | $ 10 | $ 10 | |
Number of Options, Outstanding, ending balance (in shares) | 22,200 | 14,700 | 39,400 |
Weighted-average Exercise Price, Outstanding, ending balance (in dollars per share) | $ 10.31 | $ 10.46 | $ 10.17 |
Outstanding at September 30, 2018 (in years) (Year) | 1 year 73 days | ||
Outstanding at September 30, 2018 (in years) | $ 161,000 | ||
Exercisable at September 30, 2018 (in years) (in shares) | 14,700 | ||
Exercisable at September 30, 2018 (in years) (in dollars per share) | $ 10.46 | ||
Exercisable at September 30, 2018 (in years) | $ 161,000 |
Note 7 - Federal Home Loan Ba_2
Note 7 - Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 37,900 | |
Federal Home Loan Bank Advances, Total | $ 0 | $ 0 |
Note 8 - Fair Value of Financ_3
Note 8 - Fair Value of Financial Instruments - Fair Values and Fair Value Measurement Method of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities available for sale | $ 44,359 | $ 49,809 |
Loans held for sale | 6,782 | 5,880 |
Accrued interest receivable | 1,028 | 978 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 32,397 | |
Securities available for sale | 49,809 | |
Loans held for sale | 5,880 | |
Loans Receivable, Fair Value Disclosure | 250,259 | |
Federal Home Loan Bank stock | 316 | |
Accrued interest receivable | 978 | |
Deposits | 298,297 | |
Off-Balance Sheet Items | ||
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 32,397 | |
Securities available for sale | 49,809 | |
Loans held for sale | 6,039 | |
Loans Receivable, Fair Value Disclosure | 249,628 | |
Federal Home Loan Bank stock | 316 | |
Accrued interest receivable | 978 | |
Deposits | 298,403 | |
Off-Balance Sheet Items | ||
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and cash equivalents | 56,775 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 56,775 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Securities available for sale | 44,359 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Securities available for sale | 44,359 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Loans held for sale | 6,782 | |
Loans Receivable, Fair Value Disclosure | 289,022 | |
Federal Home Loan Bank stock | 355 | |
Accrued interest receivable | 1,028 | |
Deposits | 355,246 | |
Off-Balance Sheet Items | ||
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans held for sale | 6,822 | |
Loans Receivable, Fair Value Disclosure | 285,506 | |
Federal Home Loan Bank stock | 355 | |
Accrued interest receivable | 1,028 | |
Deposits | 355,553 | |
Off-Balance Sheet Items |
Note 9 - Off-balance Sheet Fi_3
Note 9 - Off-balance Sheet Financial Instruments (Details Textual) - Standby Financial Letters of Credit [Member] | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Debt Instrument, Term | 1 year |
Debt Instrument, Collateral Amount | $ 565,000 |
Credit Availability Concentration Risk [Member] | Swap Liabilities [Member] | |
Concentration Risk, Percentage | 10.00% |
Note 9 - Off-balance Sheet Fi_4
Note 9 - Off-balance Sheet Financial Instruments - Summary of Off-balance Sheet Financial Instruments (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Commitments to Extend Credit [Member] | |
Contractual amounts with off-balance-sheet risk | $ 5,670 |
Construction Loans In Process [Member] | |
Contractual amounts with off-balance-sheet risk | 16,280 |
Unused lines of Credit [Member] | |
Contractual amounts with off-balance-sheet risk | 41,954 |
Standby Financial Letters of Credit [Member] | |
Contractual amounts with off-balance-sheet risk | 2,312 |
Guaranteed Accounts [Member] | |
Contractual amounts with off-balance-sheet risk | $ 1,329 |
Note 10 - Premises and Equipm_3
Note 10 - Premises and Equipment (Details Textual) | Aug. 06, 2018 |
Lessee, Operating Lease, Term of Contract | 15 years |
Lessee, Operating Lease, Number of Renewal Options | 4 |
Lessee, Operating Lease, Renewal Term | 5 years |
Lease, Initial Setting-up Period | 180 days |
Lease Rent Commencement Period | 120 days |
Note 10 - Premises and Equipm_4
Note 10 - Premises and Equipment - Summary of New Rent Obligations (Details) | Sep. 30, 2018USD ($) |
Future rent commitments, years 1-5 | $ 294,000 |
Future rent commitments, years 6-10 | 323,400 |
Future rent commitments, years 11-15 | $ 355,740 |