Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 05, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | Prime Meridian Holding Co | |
Entity Central Index Key | 0001586454 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 3,117,842 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 6,993 | $ 9,024 |
Federal funds sold | 13,809 | 24,613 |
Interest-bearing deposits | 41,505 | 41,445 |
Total cash and cash equivalents | 62,307 | 75,082 |
Debt securities available for sale | 66,898 | 61,333 |
Loans held for sale | 8,949 | 6,193 |
Loans, net of allowance for loan losses of $5,248 and $4,414 | 442,574 | 337,710 |
Federal Home Loan Bank stock | 493 | 404 |
Premises and equipment, net | 8,187 | 7,744 |
Right of use lease asset | 3,568 | 3,669 |
Accrued interest receivable | 1,723 | 1,137 |
Bank-owned life insurance | 6,581 | 6,501 |
Other real estate owned | 234 | |
Other assets | 658 | 1,088 |
Total assets | 602,172 | 500,861 |
Liabilities: | ||
Noninterest-bearing demand deposits | 146,542 | 96,807 |
Savings, NOW and money-market deposits | 323,523 | 272,283 |
Time deposits | 66,449 | 69,174 |
Total deposits | 536,514 | 438,264 |
Other borrowings | 1,254 | |
Official checks | 3,373 | 606 |
Operating lease liability | 3,669 | 3,758 |
Other liabilities | 1,584 | 1,111 |
Total liabilities | 545,140 | 444,993 |
Stockholders' equity: | ||
Preferred stock, undesignated; 1,000,000 shares authorized, none issued or outstanding | ||
Common stock, $.01 par value; 9,000,000 shares authorized, 3,116,499 and 3,191,288 issued and outstanding | 31 | 32 |
Additional paid-in capital | 38,412 | 39,456 |
Retained earnings | 17,233 | 16,180 |
Accumulated other comprehensive income | 1,356 | 200 |
Total stockholders' equity | 57,032 | 55,868 |
Total liabilities and stockholders' equity | $ 602,172 | $ 500,861 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans receivable, allowance for loan losses | $ 5,248 | $ 4,414 |
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) | 3,116,499 | 3,191,288 |
Common stock, shares outstanding (in shares) | 3,116,499 | 3,191,288 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Interest income: | |||||
Loans | $ 4,844 | $ 3,916 | $ 9,273 | $ 7,772 | |
Securities | 428 | 333 | 812 | 629 | |
Other | 62 | 361 | 294 | 709 | |
Total interest income | 5,334 | 4,610 | 10,379 | 9,110 | |
Interest expense: | |||||
Deposits | 737 | 851 | 1,636 | 1,664 | |
Other borrowings | 28 | 31 | |||
Total interest expense | 765 | 851 | 1,667 | 1,664 | |
Net interest income | 4,569 | 3,759 | 8,712 | 7,446 | |
Provision for loan losses | 1,227 | 179 | 1,863 | 344 | |
Net interest income after provision for loan losses | 3,342 | 3,580 | 6,849 | 7,102 | |
Noninterest income: | |||||
Mortgage banking revenue | 219 | 197 | 367 | 303 | |
Income from bank-owned life insurance | 40 | 45 | 80 | 90 | |
Gain on sale of debt securities available for sale | 7 | ||||
Other income | 32 | 38 | 66 | 72 | |
Total noninterest income | 414 | 412 | 781 | 737 | |
Noninterest expense: | |||||
Salaries and employee benefits | 1,546 | 1,579 | 3,164 | 3,136 | |
Occupancy and equipment | 381 | 427 | 719 | 702 | |
Professional fees | 83 | 106 | 174 | 183 | |
Marketing | 100 | 194 | 301 | 393 | |
FDIC assessment | 67 | 44 | 119 | 87 | |
Software maintenance, amortization and other | 201 | 167 | 394 | 319 | |
Other | 441 | 466 | 886 | 869 | |
Total noninterest expense | 2,819 | 2,983 | 5,757 | 5,689 | |
Earnings before income taxes | 937 | 1,009 | 1,873 | 2,150 | |
Income taxes | 217 | 245 | 437 | 519 | |
Net earnings | $ 720 | $ 764 | $ 1,436 | $ 1,631 | |
Earnings per common share: | |||||
Basic (in dollars per share) | $ 0.23 | $ 0.24 | $ 0.45 | $ 0.52 | |
Diluted (in dollars per share) | 0.23 | 0.24 | 0.45 | 0.52 | |
Cash dividends per common share(1) (in dollars per share) | [1] | $ 0.12 | $ 0.12 | ||
Deposit Account [Member] | |||||
Noninterest income: | |||||
Noninterest income | $ 44 | $ 68 | $ 108 | $ 139 | |
Debit Card [Member] | |||||
Noninterest income: | |||||
Noninterest income | $ 79 | $ 64 | $ 160 | $ 126 | |
[1] | Annual cash dividends were paid during the first quarters of 2019 and 2020 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net earnings | $ 720 | $ 764 | $ 1,436 | $ 1,631 |
Unrealized gain arising during the period | 729 | 653 | 1,547 | 1,081 |
Reclassification adjustment for realized gain | (7) | (7) | ||
Net change in unrealized gain | 729 | 646 | 1,547 | 1,074 |
Deferred income tax expense on above change | (184) | (164) | (391) | (272) |
Total other comprehensive income | 545 | 482 | 1,156 | 802 |
Comprehensive income | $ 1,265 | $ 1,246 | $ 2,592 | $ 2,433 |
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 |
Balance (in shares) at Dec. 31, 2018 | 3,138,945 | ||||
Balance at Dec. 31, 2018 | $ 31 | $ 38,330 | $ 13,015 | $ (556) | $ 50,820 |
Net earnings | 867 | 867 | |||
Dividends paid (unaudited) | (377) | (377) | |||
Net change in unrealized gain on debt securities available for sale, net of income tax expense (unaudited) | 320 | 320 | |||
Common stock issued as compensation to directors (unaudited) (in shares) | 595 | ||||
Common stock issued as compensation to directors (unaudited) | 12 | 12 | |||
Issuance of restricted stock (unaudited) (in shares) | 3,600 | ||||
Issuance of restricted stock (unaudited) | |||||
Stock-based compensation (unaudited) | 42 | 42 | |||
Balance (in shares) at Mar. 31, 2019 | 3,143,140 | ||||
Balance at Mar. 31, 2019 | $ 31 | 38,384 | 13,505 | (236) | 51,684 |
Balance (in shares) at Dec. 31, 2018 | 3,138,945 | ||||
Balance at Dec. 31, 2018 | $ 31 | 38,330 | 13,015 | (556) | 50,820 |
Net earnings | 1,631 | ||||
Net change in unrealized gain on debt securities available for sale, net of income tax expense (unaudited) | 802 | ||||
Balance (in shares) at Jun. 30, 2019 | 3,144,456 | ||||
Balance at Jun. 30, 2019 | $ 31 | 38,450 | 14,269 | 246 | 52,996 |
Balance (in shares) at Mar. 31, 2019 | 3,143,140 | ||||
Balance at Mar. 31, 2019 | $ 31 | 38,384 | 13,505 | (236) | 51,684 |
Net earnings | 764 | 764 | |||
Net change in unrealized gain on debt securities available for sale, net of income tax expense (unaudited) | 482 | 482 | |||
Common stock issued as compensation to directors (unaudited) (in shares) | 1,016 | ||||
Common stock issued as compensation to directors (unaudited) | 19 | 19 | |||
Stock-based compensation (unaudited) | 44 | 44 | |||
Stock options exercised (unaudited) (in shares) | 300 | ||||
Stock options exercised (unaudited) | 3 | 3 | |||
Stock options exercised (unaudited) | 3 | 3 | |||
Balance (in shares) at Jun. 30, 2019 | 3,144,456 | ||||
Balance at Jun. 30, 2019 | $ 31 | 38,450 | 14,269 | 246 | $ 52,996 |
Balance (in shares) at Dec. 31, 2019 | 3,191,288 | 3,191,288 | |||
Balance at Dec. 31, 2019 | $ 32 | 39,456 | 16,180 | 200 | $ 55,868 |
Net earnings | 716 | 716 | |||
Dividends paid (unaudited) | (383) | (383) | |||
Net change in unrealized gain on debt securities available for sale, net of income tax expense (unaudited) | 611 | 611 | |||
Common stock issued as compensation to directors (unaudited) (in shares) | 995 | ||||
Common stock issued as compensation to directors (unaudited) | 20 | 20 | |||
Issuance of restricted stock (unaudited) (in shares) | 3,835 | ||||
Issuance of restricted stock (unaudited) | |||||
Stock-based compensation (unaudited) | 51 | 51 | |||
Stock options exercised (unaudited) (in shares) | 2,000 | ||||
Stock options exercised (unaudited) | 25 | 25 | |||
Stock options exercised (unaudited) | 25 | 25 | |||
Common stock retirement (unaudited) (in shares) | (82,784) | ||||
Common stock retirement (unaudited) | $ (1) | (1,216) | (1,217) | ||
Balance (in shares) at Mar. 31, 2020 | 3,115,334 | ||||
Balance at Mar. 31, 2020 | $ 31 | 38,336 | 16,513 | 811 | $ 55,691 |
Balance (in shares) at Dec. 31, 2019 | 3,191,288 | 3,191,288 | |||
Balance at Dec. 31, 2019 | $ 32 | 39,456 | 16,180 | 200 | $ 55,868 |
Net earnings | 1,436 | ||||
Net change in unrealized gain on debt securities available for sale, net of income tax expense (unaudited) | $ 1,156 | ||||
Balance (in shares) at Jun. 30, 2020 | 3,116,499 | 3,116,499 | |||
Balance at Jun. 30, 2020 | $ 31 | 38,412 | 17,233 | 1,356 | $ 57,032 |
Balance (in shares) at Mar. 31, 2020 | 3,115,334 | ||||
Balance at Mar. 31, 2020 | $ 31 | 38,336 | 16,513 | 811 | 55,691 |
Net earnings | 720 | 720 | |||
Net change in unrealized gain on debt securities available for sale, net of income tax expense (unaudited) | 545 | 545 | |||
Common stock issued as compensation to directors (unaudited) (in shares) | 1,165 | ||||
Common stock issued as compensation to directors (unaudited) | 21 | 21 | |||
Stock-based compensation (unaudited) | 55 | $ 55 | |||
Balance (in shares) at Jun. 30, 2020 | 3,116,499 | 3,116,499 | |||
Balance at Jun. 30, 2020 | $ 31 | $ 38,412 | $ 17,233 | $ 1,356 | $ 57,032 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flows from operating activities: | ||
Net earnings | $ 1,436 | $ 1,631 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation and amortization | 322 | 319 |
Provision for loan losses | 1,863 | 344 |
Net amortization of deferred loan costs | 19 | 267 |
Gain on sale of debt securities available for sale | (7) | |
Amortization of premiums and discounts on debt securities available for sale | 192 | 142 |
Gain on sale of loans held for sale | (367) | (303) |
Proceeds from the sale of loans held for sale | 65,541 | 39,414 |
Loans originated as held for sale | (67,930) | (40,567) |
Stock issued as compensation | 41 | 31 |
Stock-based compensation expense | 106 | 86 |
Income from bank-owned life insurance | (80) | (90) |
Net increase in accrued interest receivable | (586) | (66) |
Net change in operating leases | 12 | 59 |
Net decrease (increase) in other assets | 39 | (326) |
Net increase in other liabilities and official checks | 3,240 | 995 |
Net cash provided by operating activities | 3,848 | 1,929 |
Cash flows from investing activities: | ||
Loan originations, net of principal repayments | (106,980) | (10,447) |
Purchase of debt securities available for sale | (13,726) | (13,806) |
Principal repayments of debt securities available for sale | 6,998 | 2,680 |
Proceeds from sale of debt securities available for sale | 4,245 | |
Maturities and calls of debt securities available for sale | 2,518 | 773 |
Purchase of Federal Home Loan Bank stock | (89) | (49) |
Purchase of premises and equipment | (765) | (2,974) |
Net cash used in investing activities | (112,044) | (19,578) |
Cash flows from financing activities: | ||
Net increase in deposits | 98,250 | 41,257 |
Change in other borrowings | (1,254) | 770 |
Proceeds from stock options exercised | 25 | 3 |
Common stock retirement | (1,217) | |
Common stock dividends paid | (383) | (377) |
Net cash provided by financing activities | 95,421 | 41,653 |
Net (decrease) increase in cash and cash equivalents | (12,775) | 24,004 |
Cash and cash equivalents at beginning of period | 75,082 | 48,038 |
Cash and cash equivalents at end of period | 62,307 | 72,042 |
Supplemental disclosure of cash flow information | ||
Interest | 1,686 | 1,656 |
Income taxes | 60 | 750 |
Noncash transactions: | ||
Accumulated other comprehensive income, net change in unrealized gain on debt securities available for sale, net of taxes | 1,156 | 802 |
Loans transferred to other real estate owned | $ 234 |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 General Prime Meridian Holding Company (“PMHG”) owns 100% four 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, 2019 10 March 24, 2020. three six June 30, 2020 not Comprehensive Incom e . S tock - Based Compensation. Mortgage Banking Revenue. Debit card / ATM Revenue. Reclassifications. Recent Accounting Standards Update. In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2019, October 16, 2019, January, 2023 In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13" 2018 13 2018 13 December 15, 2019. no |
Note 2 - Debt Securities Availa
Note 2 - Debt Securities Available for Sale | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 2 Debt Securities Available for Sale Debt securities are classified according to management's intent. The amortized cost of debt securities and fair values are as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (in thousands) At June 30, 2020 U.S. Government agency securities $ 275 $ 4 $ - $ 279 Municipal securities 11,824 567 - 12,391 Mortgage-backed securities 47,497 1,534 (30 ) 49,001 Asset-backed securities 5,486 - (259 ) 5,227 Total $ 65,082 $ 2,105 $ (289 ) $ 66,898 At December 31, 2019 U.S. Government agency securities $ 408 $ - $ (1 ) $ 407 Municipal securities 9,332 81 (72 ) 9,341 Mortgage-backed securities 45,499 401 (97 ) 45,803 Asset-backed securities 5,825 14 (57 ) 5,782 Total $ 61,064 $ 496 $ (227 ) $ 61,333 The following table summarizes the sale of debt securities available for sale. Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2020 2019 2020 2019 Proceeds from sale of debt securities $ - $ - $ - $ 4,245 Gross gains - - - 27 Gross losses - - - (20 ) Net gain on sale of debt securities $ - $ - $ - $ 7 Debt 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 June 30, 2020 Mortgage-backed securities $ (17 ) $ 3,370 $ (13 ) $ 2,060 Asset-backed securities (175 ) 3,311 (84 ) 1,916 Total $ (192 ) $ 6,681 $ (97 ) $ 3,976 At December 31, 2019 U.S. Government agency securities $ (1 ) $ 407 $ - $ - Municipal securities (72 ) 3,814 - - Mortgage-backed securities (56 ) 4,629 (41 ) 4,115 Asset-backed securities (57 ) 3,901 - - Total $ (186 ) $ 12,751 $ (41 ) $ 4,115 The unrealized losses at June 30, 2020 December 31, 2019 nine thirteen 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 June 30, 2020 U.S. Government agency securities $ 279 $ - $ 279 $ - Municipal securities 12,391 - 12,391 - Mortgage-backed securities 49,001 - 49,001 - Asset-backed securities 5,227 - 5,227 - Total $ 66,898 $ - $ 66,898 $ - At December 31, 2019 U.S. Government agency securities $ 407 $ - $ 407 $ - Municipal securities 9,341 - 9,341 - Mortgage-backed securities 45,803 - 45,803 - Asset-backed securities 5,782 - 5,782 - Total $ 61,333 $ - $ 61,333 $ - The scheduled maturities of debt securities are as follows: At June 30, 2020 Amortized Fair Cost Value (in thousands) Due in less than one year $ 361 $ 361 Due in one to five years 725 734 Due in five to ten years 3,579 3,854 Due after ten years 12,920 12,948 Mortgage-backed securities 47,497 49,001 Total $ 65,082 $ 66,898 |
Note 3 - Loans
Note 3 - Loans | 6 Months Ended |
Jun. 30, 2020 | |
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 June 30, At December 31, (in thousands) 2020 2019 Real estate mortgage loans: Commercial $ 108,970 $ 94,728 Residential and home equity 141,932 135,913 Construction 42,142 33,583 Total real estate mortgage loans 293,044 264,224 Commercial loans 149,437 69,770 Consumer and other loans 7,186 7,631 Total loans 449,667 341,625 Add (deduct): Net deferred loan (fees) costs (1,845 ) 499 Allowance for loan losses (5,248 ) (4,414 ) Loans, net $ 442,574 $ 337,710 An analysis of the change in allowance for loan losses follows: Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other Unallocated (in thousands) Commercial Equity Construction Loans Loans Reserves Total Three Month Period Ended June 30, 2020 Beginning balance $ 1,182 $ 1,612 $ 472 $ 1,315 $ 126 $ - $ 4,707 Provision (credit) for loan losses 31 58 42 882 (22 ) 236 1,227 Net (charge-offs) recoveries - (33 ) - (661 ) 8 - (686 ) Ending balance $ 1,213 $ 1,637 $ 514 $ 1,536 $ 112 $ 236 $ 5,248 Three Month Period Ended June 30, 2019 Beginning balance $ 847 $ 1,429 $ 362 $ 1,068 $ 94 $ - $ 3,800 Provision (credit) for loan losses (34 ) 29 63 133 (12 ) - 179 Net (charge-offs) recoveries - - - 24 3 - 27 Ending balance $ 813 $ 1,458 $ 425 $ 1,225 $ 85 $ - $ 4,006 Six Month Period Ended June 30, 2020 Beginning balance $ 1,046 $ 1,573 $ 415 $ 1,284 $ 96 $ - $ 4,414 Provision (credit) for loan losses 167 112 99 1,228 21 236 1,863 Net (charge-offs) recoveries - (48 ) - (976 ) (5 ) - (1,029 ) Ending balance $ 1,213 $ 1,637 $ 514 $ 1,536 $ 112 $ 236 $ 5,248 Six Month Period Ended June 30, 2019 Beginning balance $ 917 $ 1,397 $ 391 $ 876 $ 80 $ - $ 3,661 Provision (credit) for loan losses (104 ) 61 34 347 6 - 344 Net (charge-offs) recoveries - - - 2 (1 ) - 1 Ending balance $ 813 $ 1,458 $ 425 $ 1,225 $ 85 $ - $ 4,006 At June 30, 2020 Individually evaluated for impairment: Recorded investment $ 119 $ 1,089 $ - $ 642 $ 37 $ - $ 1,887 Balance in allowance for loan losses $ - $ - $ - $ 252 $ 37 $ - $ 289 Collectively evaluated for impairment: Recorded investment $ 108,851 $ 140,843 $ 42,142 $ 148,795 $ 7,149 $ - $ 447,780 Balance in allowance for loan losses $ 1,213 $ 1,637 $ 514 $ 1,284 $ 75 $ 236 $ 4,959 At December 31, 2019 Individually evaluated for impairment: Recorded investment $ 611 $ 965 $ - $ 1,631 $ 13 $ - $ 3,220 Balance in allowance for loan losses $ - $ 15 $ - $ 386 $ 13 $ - $ 414 Collectively evaluated for impairment: Recorded investment $ 94,117 $ 134,948 $ 33,583 $ 68,139 $ 7,618 $ - $ 338,405 Balance in allowance for loan losses $ 1,046 $ 1,558 $ 415 $ 898 $ 83 $ - $ 4,000 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 may Cons umer and Other Loans . may not not The following summarizes the loan credit quality: Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other (in thousands) Commercial Equity Construction Loans Loans Total At June 30, 2020: Grade: Pass $ 107,372 $ 139,625 $ 41,291 $ 147,316 $ 7,121 $ 442,725 Special mention 1,479 1,218 851 1,238 40 4,826 Substandard 119 1,089 - 883 25 2,116 Doubtful - - - - - - Loss - - - - - - Total $ 108,970 $ 141,932 $ 42,142 $ 149,437 $ 7,186 $ 449,667 At December 31, 2019: Grade: Pass $ 92,586 $ 133,351 $ 32,374 $ 66,649 $ 7,576 $ 332,536 Special mention 1,531 1,597 1,209 1,197 55 5,589 Substandard 611 965 - 1,924 - 3,500 Doubtful - - - - - - Loss - - - - - - Total $ 94,728 $ 135,913 $ 33,583 $ 69,770 $ 7,631 $ 341,625 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 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 June 30, 2020: Real estate mortgage loans: Commercial $ - - $ - $ - $ 108,970 $ - $ 108,970 Residential and home equity - - - - 140,843 1,089 141,932 Construction - - - - 42,142 - 42,142 Commercial loans 4 1 - 5 148,790 642 149,437 Consumer and other loans - - - - 7,161 25 7,186 Total $ 4 $ 1 $ - $ 5 $ 447,906 $ 1,756 $ 449,667 At December 31, 2019: Real estate mortgage loans: Commercial $ - $ - $ - $ - $ 94,728 $ - $ 94,728 Residential and home equity 569 - - 569 134,379 965 135,913 Construction 82 - - 82 33,501 - 33,583 Commercial loans 87 - - 87 68,057 1,626 69,770 Consumer and other loans - 5 - 5 7,626 - 7,631 Total $ 738 $ 5 $ - $ 743 $ 338,291 $ 2,591 $ 341,625 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 June 30, 2020: Real estate mortgage loans: Commercial $ 119 $ 119 $ - $ - $ - $ 119 $ 119 $ - Residential and home equity 1,089 1,089 - - - 1,089 1,089 - Commercial loans - - 642 642 252 642 642 252 Consumer and other loans - - 37 37 37 37 37 37 Total $ 1,208 $ 1,208 $ 679 $ 679 $ 289 $ 1,887 $ 1,887 $ 289 At December 31, 2019: Real estate mortgage loans: Commercial real estate $ 611 $ 611 $ - $ - $ - $ 611 $ 611 $ - Residential and home equity 716 716 249 249 15 965 965 15 Commercial loans 508 508 1,123 1,123 386 1,631 1,631 386 Consumer and other loans - - 13 13 13 13 13 13 Total $ 1,835 $ 1,835 $ 1,385 $ 1,385 $ 414 $ 3,220 $ 3,220 $ 414 The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows: Three Months Ended June 30, 2020 2019 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 $ 298 $ 5 $ 4 $ 611 $ 8 $ 8 Residential and home equity 929 - - 439 - 2 Commercial loans 1,505 3 3 455 4 6 Consumer 26 - - 19 - - Total $ 2,758 $ 8 $ 7 $ 1,524 $ 12 $ 16 Six Months Ended June 30, 2020 2019 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 $ 484 $ 12 $ 11 $ 611 $ 16 $ 16 Residential and home equity 906 - - 430 4 5 Construction - - - - 1 1 Commercial loans 1,531 7 7 343 4 6 Consumer 13 - - 14 - - Total $ 2,934 $ 19 $ 18 $ 1,398 $ 25 $ 28 There were no June 30, 2020 2019 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 19 not no three six June 30, 2020 two three six June 30, 2019 Three Months Ended June 30, 2020 2019 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 - Modified principal Construction $ - $ - $ - $ - - $ - $ - $ - Residential and Home Equity - - - - 1 66 66 66 Commercial - - - - 1 60 60 60 Total $ - $ - $ - $ - 2 $ 126 $ 126 $ 126 Six Months Ended June 30, 2020 2019 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 - Modified principal Construction - $ - $ - $ - - $ - $ - $ - Residential and Home Equity - - - - 1 66 66 66 Commercial - - - - 1 60 60 60 Total - $ - $ - $ - 2 $ 126 $ 126 $ 126 At June 30, 2020, $276,000 three six June 30, 2019 not |
Note 4 - Regulatory Capital
Note 4 - Regulatory Capital | 6 Months Ended |
Jun. 30, 2020 | |
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. The Bank is subject to the Basel III capital level threshold requirements under the Prompt Corrective Action regulations. These regulations were designed to ensure that banks maintain strong capital positions even in the event of severe economic downturns or unforeseen losses. The Bank is subject to the capital conservation buffer rules which place limitations on distributions, including dividend payments, and certain discretionary bonus payments to executive officers. In order to avoid these limitations, a bank must hold a capital conservation buffer above its minimum risk-based capital requirements. As of June 30, 2020, 2.50%. 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 June 30, 2020, As of June 30, 2020, 1 1 no For Capital Adequacy For Well Capitalized Actual Purposes Purposes (dollars in thousands) Amount Percentage Amount Percentage Amount Percentage As of June 30, 2020 Tier 1 Leverage Capital $ 52,489 8.99 % $ 23,358 4.00 % $ 29,198 5.00 % Common Equity Tier 1 Risk-based Capital 52,489 13.80 17,115 4.50 24,722 6.50 Tier 1 Risk-based Capital 52,489 13.80 22,820 6.00 30,426 8.00 Total Risk-based Capital 57,248 15.05 30,426 8.00 38,033 10.00 As of December 31, 2019 Tier 1 Leverage Capital $ 46,752 9.31 % $ 20,084 4.00 % $ 25,105 5.00 % Common Equity Tier 1 Risk-based Capital 46,752 13.24 15,885 4.50 22,945 6.50 Tier 1 Risk-based Capital 46,752 13.24 21,180 6.00 28,240 8.00 Total Risk-based Capital 51,165 14.49 28,240 8.00 35,300 10.00 |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
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 six June 30, 2020 2019 2020 2019 Weighted- Per Weighted- Per Average Share Average Share (dollars in thousands, except per share amounts) Earnings Shares Amount Earnings Shares Amount Three Months Ending June 30: Basic EPS: Net earnings $ 720 3,116,307 $ 0.23 $ 764 3,144,068 $ 0.24 Effect of dilutive securities-incremental shares from assumed conversion of options 63 6,068 Diluted EPS: Net earnings $ 720 3,116,370 $ 0.23 $ 764 3,150,136 $ 0.24 Six Months Ended June 30: Basic EPS: Net earnings $ 1,436 3,150,082 $ 0.45 $ 1,631 3,142,244 $ 0.52 Effect of dilutive securities-incremental shares from assumed conversion of options 158 4,634 Diluted EPS: Net earnings $ 1,436 3,150,240 $ 0.45 $ 1,631 3,146,878 $ 0.52 |
Note 6 - Stock Option Plans
Note 6 - Stock Option Plans | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 6 ) Stock Option Plans 2015 The 2015 “2015 May 20, 2015 2015 may 500,000, no 15% As of June 30, 2020, 287,267 7,435 2015 172,708 six June 30, 2020 2019 Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term (years) Value Outstanding at December 31, 2018 263,457 $ 19.78 Options forfeited (12,440 ) $ 20.09 Outstanding at June 30, 2019 251,017 $ 19.77 Options granted 22,000 $ 20.21 Options forfeited (750 ) $ 20.09 Outstanding at December 31, 2019 272,267 $ 19.80 Options granted 15,000 $ 20.05 Options forfeited (110 ) $ 20.09 Outstanding at June 30, 2020 287,157 $ 19.82 7.41 $ - Exercisable at June 30, 2020 71,797 $ 18.97 5.64 $ - The fair value of shares vested and recognized as compensation expense was $55,000 $44,000 three June 30, 2020 2019 $106,000 $86,000 six June 30, 2020 2019, $12,000 $6,000 three June 30, 2020 2019 $22,000 $8,000 six June 30, 2020 2019 three June 30, 2020 2019 six June 30, 2020 2019 $5,000 $6,000, $10,000 $10,000, June 30, 2020, $502,000 2015 3.03 The fair value of each option granted during the six June 30, 2020 June 30, 2020 Weighted average risk-free interest rate 1.46 % Expected dividend yield 0.60 % Expected stock volatility 14.69 % Expected life in years 6.5 Per share fair value of options issued during period $ 3.26 The Company used the guidance in Staff Accounting Bulletin No. 107 2007 As of May 20, 2015, no 2007 “2007 2007 2007 six June 30, 2020 2019 Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term (years) Value Outstanding at December 31, 2018 4,700 $ 11.37 Options exercised (300 ) $ 10.00 Outstanding at June 30, 2019 4,400 $ 11.46 Options forfeited (2,000 ) $ 10.72 Options exercised (200 ) $ 10.00 Outstanding at December 31, 2019 2,200 $ 12.27 Options exercised (2,000 ) $ 12.50 Outstanding at June 30, 2020 200 $ 10.00 0.51 $ 1,000 Exercisable at June 30, 2020 200 $ 10.00 0.51 $ 1,000 At June 30, 2020, no 2007 Director s' Plan In 2012, 110% no 74,805 three June 30, 2020 2019 1,165 1,016 110% $21,000 $19,000, six June 30, 2020 2019, 2,160 1,611 110% $41,000 $31,000, June 30, 2020, 49,480 Restricted Stock During the six June 30, 2020 2019, 3,835 3,600 2019 2018, third February 21, 2020 2019 January 16, 2021 2020. Wtd-Avg Grant-Date Number of Fair Value Grant-Date Fair Shares per Share Value Non-vested restricted stock outstanding at December 31, 2018 - $ - $ - Restricted stock issued in 2019 3,600 $ 18.52 $ 67,000 Non-vested restricted stock outstanding at June 30, 2019 and December 31, 2019 3,600 $ 18.52 $ 67,000 Restricted stock issued in 2020 3,835 $ 20.40 $ 78,000 Restricted stock shares vested in 2020 (1,200 ) $ (18.52 ) $ (22,000 ) Non-vested restricted stock outstanding at June 30, 2020 6,235 $ 19.72 $ 123,000 During the six June 30, 2020 2019, $22,000 $8,000 , June 30, 2020, $104,000 2.3 |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank Advances | 6 Months Ended |
Jun. 30, 2020 | |
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 $70.0 June 30, 2020. June 30, 2020 December 31, 2019 no |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2020 | |
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 June 30, 2020 At December 31, 2019 Carrying Fair Carrying Fair (in thousands) Level Amount Value Amount Value Financial assets: Cash and cash equivalents 1 $ 62,307 $ 62,307 $ 75,082 $ 75,082 Debt securities available for sale 2 66,898 66,898 61,333 61,333 Loans held for sale 3 8,949 9,095 6,193 6,296 Loans, net 3 442,574 448,733 337,710 342,435 Federal Home Loan Bank stock 3 493 493 404 404 Accrued interest receivable 3 1,723 1,723 1,137 1,137 Financial liabilities: Deposits 3 536,514 537,496 438,624 439,208 Other borrowings 3 - - 1,254 1,254 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, 2019 |
Note 9 - Off-balance Sheet Fina
Note 9 - Off-balance Sheet Financial Instruments | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Off-balance Sheet Financial Instruments [Text Block] | ( 9 ) Off- 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 $650,000 June 30, 2020. 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 June 30, 2020 (in thousands) Commitments to extend credit $ 10,703 Construction loans in process $ 15,120 Unused lines of credit $ 54,580 Standby financial letters of credit $ 2,347 Standby performance letters of credit $ 318 Guaranteed accounts $ 1,383 |
Note 10 - Contingency
Note 10 - Contingency | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | ( 10 Contingency The COVID- 19 19 The Company took action during the first second March, ten 10 June 5, 2020. The Company is supporting small business owners by making loans through the Small Business Administration Paycheck Protection Program ("PPP"). As of June 30, 2020, 855 $81.5 100% June 30, 2020, 70 $42.4 88.9% $42.4 11.5% June 30, 2020, 25 $7.8 Seven $9.5 second 3rd 38 third 19 not As of June 30, 2020, (dollars in thousands) Percent Average Full Weighted of Number of Dollar Balance Interest Interest Payment Average Total Loan Loans Amount Loans Loans Only Only Deferral LTV Loans Collateral Collateral or Loan Type Modified Modified Modified 3 Months 4-6 Months 3 Months Modified or Type 1-4 family owner occupied 15 $ 7,558 $ 504 $ - $ - $ 7,558 75.0 % 17.8 % 1-4 family non-owner occupied 9 3,035 337 948 167 1,920 67.0 7.1 CRE owner occupied 13 10,730 825 - - 10,730 61.0 25.3 CRE non-owner occupied 9 16,407 1,823 - 1,737 14,670 62.0 38.7 Commercial & Industrial 15 3,898 260 417 672 2,809 N/A 9.2 Construction/Land 7 781 112 23 - 758 47.0 1.8 Consumer 2 29 15 29 - - N/A 0.1 Total 70 $ 42,438 $ 606 $ 1,417 $ 2,576 $ 38,445 - 100.0 % Details about the Company's PPP loan portfolio are included in the following table: (dollars in thousands) Total Avg. Loan % of Category Balance Balance Total Hospitality $ 6,368 $ 75 7.8 % Real estate services and construction 13,033 72 16.0 Wholesale and retail trade and manufacturing 10,861 88 13.3 Financial, professional, and information services 23,234 113 28.5 Administrative, religious and other services 16,334 86 20.1 Healthcare services 11,621 168 14.3 TOTAL $ 81,451 $ 95 100.0 % |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Prime Meridian Holding Company (“PMHG”) owns 100% four 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, 2019 10 March 24, 2020. three six June 30, 2020 not |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Incom e . |
Share-based Payment Arrangement, Director [Policy Text Block] | S tock - Based Compensation. |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Revenue. |
Debit Card and ATM Revenue, Policy [Policy Text Block] | Debit card / ATM Revenue. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards Update. In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2019, October 16, 2019, January, 2023 In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13" 2018 13 2018 13 December 15, 2019. no |
Note 2 - Debt Securities Avai_2
Note 2 - Debt Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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 June 30, 2020 U.S. Government agency securities $ 275 $ 4 $ - $ 279 Municipal securities 11,824 567 - 12,391 Mortgage-backed securities 47,497 1,534 (30 ) 49,001 Asset-backed securities 5,486 - (259 ) 5,227 Total $ 65,082 $ 2,105 $ (289 ) $ 66,898 At December 31, 2019 U.S. Government agency securities $ 408 $ - $ (1 ) $ 407 Municipal securities 9,332 81 (72 ) 9,341 Mortgage-backed securities 45,499 401 (97 ) 45,803 Asset-backed securities 5,825 14 (57 ) 5,782 Total $ 61,064 $ 496 $ (227 ) $ 61,333 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2020 2019 2020 2019 Proceeds from sale of debt securities $ - $ - $ - $ 4,245 Gross gains - - - 27 Gross losses - - - (20 ) Net gain on sale of debt securities $ - $ - $ - $ 7 |
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 June 30, 2020 Mortgage-backed securities $ (17 ) $ 3,370 $ (13 ) $ 2,060 Asset-backed securities (175 ) 3,311 (84 ) 1,916 Total $ (192 ) $ 6,681 $ (97 ) $ 3,976 At December 31, 2019 U.S. Government agency securities $ (1 ) $ 407 $ - $ - Municipal securities (72 ) 3,814 - - Mortgage-backed securities (56 ) 4,629 (41 ) 4,115 Asset-backed securities (57 ) 3,901 - - Total $ (186 ) $ 12,751 $ (41 ) $ 4,115 |
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 June 30, 2020 U.S. Government agency securities $ 279 $ - $ 279 $ - Municipal securities 12,391 - 12,391 - Mortgage-backed securities 49,001 - 49,001 - Asset-backed securities 5,227 - 5,227 - Total $ 66,898 $ - $ 66,898 $ - At December 31, 2019 U.S. Government agency securities $ 407 $ - $ 407 $ - Municipal securities 9,341 - 9,341 - Mortgage-backed securities 45,803 - 45,803 - Asset-backed securities 5,782 - 5,782 - Total $ 61,333 $ - $ 61,333 $ - |
Available-for-sale Securities [Table Text Block] | At June 30, 2020 Amortized Fair Cost Value (in thousands) Due in less than one year $ 361 $ 361 Due in one to five years 725 734 Due in five to ten years 3,579 3,854 Due after ten years 12,920 12,948 Mortgage-backed securities 47,497 49,001 Total $ 65,082 $ 66,898 |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Portfolio of Loans [Table Text Block] | At June 30, At December 31, (in thousands) 2020 2019 Real estate mortgage loans: Commercial $ 108,970 $ 94,728 Residential and home equity 141,932 135,913 Construction 42,142 33,583 Total real estate mortgage loans 293,044 264,224 Commercial loans 149,437 69,770 Consumer and other loans 7,186 7,631 Total loans 449,667 341,625 Add (deduct): Net deferred loan (fees) costs (1,845 ) 499 Allowance for loan losses (5,248 ) (4,414 ) Loans, net $ 442,574 $ 337,710 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Real Estate Mortgage Loans Residential Consumer and Home Commercial and Other Unallocated (in thousands) Commercial Equity Construction Loans Loans Reserves Total Three Month Period Ended June 30, 2020 Beginning balance $ 1,182 $ 1,612 $ 472 $ 1,315 $ 126 $ - $ 4,707 Provision (credit) for loan losses 31 58 42 882 (22 ) 236 1,227 Net (charge-offs) recoveries - (33 ) - (661 ) 8 - (686 ) Ending balance $ 1,213 $ 1,637 $ 514 $ 1,536 $ 112 $ 236 $ 5,248 Three Month Period Ended June 30, 2019 Beginning balance $ 847 $ 1,429 $ 362 $ 1,068 $ 94 $ - $ 3,800 Provision (credit) for loan losses (34 ) 29 63 133 (12 ) - 179 Net (charge-offs) recoveries - - - 24 3 - 27 Ending balance $ 813 $ 1,458 $ 425 $ 1,225 $ 85 $ - $ 4,006 Six Month Period Ended June 30, 2020 Beginning balance $ 1,046 $ 1,573 $ 415 $ 1,284 $ 96 $ - $ 4,414 Provision (credit) for loan losses 167 112 99 1,228 21 236 1,863 Net (charge-offs) recoveries - (48 ) - (976 ) (5 ) - (1,029 ) Ending balance $ 1,213 $ 1,637 $ 514 $ 1,536 $ 112 $ 236 $ 5,248 Six Month Period Ended June 30, 2019 Beginning balance $ 917 $ 1,397 $ 391 $ 876 $ 80 $ - $ 3,661 Provision (credit) for loan losses (104 ) 61 34 347 6 - 344 Net (charge-offs) recoveries - - - 2 (1 ) - 1 Ending balance $ 813 $ 1,458 $ 425 $ 1,225 $ 85 $ - $ 4,006 At June 30, 2020 Individually evaluated for impairment: Recorded investment $ 119 $ 1,089 $ - $ 642 $ 37 $ - $ 1,887 Balance in allowance for loan losses $ - $ - $ - $ 252 $ 37 $ - $ 289 Collectively evaluated for impairment: Recorded investment $ 108,851 $ 140,843 $ 42,142 $ 148,795 $ 7,149 $ - $ 447,780 Balance in allowance for loan losses $ 1,213 $ 1,637 $ 514 $ 1,284 $ 75 $ 236 $ 4,959 At December 31, 2019 Individually evaluated for impairment: Recorded investment $ 611 $ 965 $ - $ 1,631 $ 13 $ - $ 3,220 Balance in allowance for loan losses $ - $ 15 $ - $ 386 $ 13 $ - $ 414 Collectively evaluated for impairment: Recorded investment $ 94,117 $ 134,948 $ 33,583 $ 68,139 $ 7,618 $ - $ 338,405 Balance in allowance for loan losses $ 1,046 $ 1,558 $ 415 $ 898 $ 83 $ - $ 4,000 |
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 June 30, 2020: Grade: Pass $ 107,372 $ 139,625 $ 41,291 $ 147,316 $ 7,121 $ 442,725 Special mention 1,479 1,218 851 1,238 40 4,826 Substandard 119 1,089 - 883 25 2,116 Doubtful - - - - - - Loss - - - - - - Total $ 108,970 $ 141,932 $ 42,142 $ 149,437 $ 7,186 $ 449,667 At December 31, 2019: Grade: Pass $ 92,586 $ 133,351 $ 32,374 $ 66,649 $ 7,576 $ 332,536 Special mention 1,531 1,597 1,209 1,197 55 5,589 Substandard 611 965 - 1,924 - 3,500 Doubtful - - - - - - Loss - - - - - - Total $ 94,728 $ 135,913 $ 33,583 $ 69,770 $ 7,631 $ 341,625 |
Financing Receivable, Past Due [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 June 30, 2020: Real estate mortgage loans: Commercial $ - - $ - $ - $ 108,970 $ - $ 108,970 Residential and home equity - - - - 140,843 1,089 141,932 Construction - - - - 42,142 - 42,142 Commercial loans 4 1 - 5 148,790 642 149,437 Consumer and other loans - - - - 7,161 25 7,186 Total $ 4 $ 1 $ - $ 5 $ 447,906 $ 1,756 $ 449,667 At December 31, 2019: Real estate mortgage loans: Commercial $ - $ - $ - $ - $ 94,728 $ - $ 94,728 Residential and home equity 569 - - 569 134,379 965 135,913 Construction 82 - - 82 33,501 - 33,583 Commercial loans 87 - - 87 68,057 1,626 69,770 Consumer and other loans - 5 - 5 7,626 - 7,631 Total $ 738 $ 5 $ - $ 743 $ 338,291 $ 2,591 $ 341,625 |
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 June 30, 2020: Real estate mortgage loans: Commercial $ 119 $ 119 $ - $ - $ - $ 119 $ 119 $ - Residential and home equity 1,089 1,089 - - - 1,089 1,089 - Commercial loans - - 642 642 252 642 642 252 Consumer and other loans - - 37 37 37 37 37 37 Total $ 1,208 $ 1,208 $ 679 $ 679 $ 289 $ 1,887 $ 1,887 $ 289 At December 31, 2019: Real estate mortgage loans: Commercial real estate $ 611 $ 611 $ - $ - $ - $ 611 $ 611 $ - Residential and home equity 716 716 249 249 15 965 965 15 Commercial loans 508 508 1,123 1,123 386 1,631 1,631 386 Consumer and other loans - - 13 13 13 13 13 13 Total $ 1,835 $ 1,835 $ 1,385 $ 1,385 $ 414 $ 3,220 $ 3,220 $ 414 |
Impaired Financing Receivables, Average Recorded Investment, and Interest Income Recognized [Table Text Block] | Three Months Ended June 30, 2020 2019 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 $ 298 $ 5 $ 4 $ 611 $ 8 $ 8 Residential and home equity 929 - - 439 - 2 Commercial loans 1,505 3 3 455 4 6 Consumer 26 - - 19 - - Total $ 2,758 $ 8 $ 7 $ 1,524 $ 12 $ 16 Six Months Ended June 30, 2020 2019 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 $ 484 $ 12 $ 11 $ 611 $ 16 $ 16 Residential and home equity 906 - - 430 4 5 Construction - - - - 1 1 Commercial loans 1,531 7 7 343 4 6 Consumer 13 - - 14 - - Total $ 2,934 $ 19 $ 18 $ 1,398 $ 25 $ 28 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Three Months Ended June 30, 2020 2019 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 - Modified principal Construction $ - $ - $ - $ - - $ - $ - $ - Residential and Home Equity - - - - 1 66 66 66 Commercial - - - - 1 60 60 60 Total $ - $ - $ - $ - 2 $ 126 $ 126 $ 126 Six Months Ended June 30, 2020 2019 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 - Modified principal Construction - $ - $ - $ - - $ - $ - $ - Residential and Home Equity - - - - 1 66 66 66 Commercial - - - - 1 60 60 60 Total - $ - $ - $ - 2 $ 126 $ 126 $ 126 |
Note 4 - Regulatory Capital (Ta
Note 4 - Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | For Capital Adequacy For Well Capitalized Actual Purposes Purposes (dollars in thousands) Amount Percentage Amount Percentage Amount Percentage As of June 30, 2020 Tier 1 Leverage Capital $ 52,489 8.99 % $ 23,358 4.00 % $ 29,198 5.00 % Common Equity Tier 1 Risk-based Capital 52,489 13.80 17,115 4.50 24,722 6.50 Tier 1 Risk-based Capital 52,489 13.80 22,820 6.00 30,426 8.00 Total Risk-based Capital 57,248 15.05 30,426 8.00 38,033 10.00 As of December 31, 2019 Tier 1 Leverage Capital $ 46,752 9.31 % $ 20,084 4.00 % $ 25,105 5.00 % Common Equity Tier 1 Risk-based Capital 46,752 13.24 15,885 4.50 22,945 6.50 Tier 1 Risk-based Capital 46,752 13.24 21,180 6.00 28,240 8.00 Total Risk-based Capital 51,165 14.49 28,240 8.00 35,300 10.00 |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2020 2019 Weighted- Per Weighted- Per Average Share Average Share (dollars in thousands, except per share amounts) Earnings Shares Amount Earnings Shares Amount Three Months Ending June 30: Basic EPS: Net earnings $ 720 3,116,307 $ 0.23 $ 764 3,144,068 $ 0.24 Effect of dilutive securities-incremental shares from assumed conversion of options 63 6,068 Diluted EPS: Net earnings $ 720 3,116,370 $ 0.23 $ 764 3,150,136 $ 0.24 Six Months Ended June 30: Basic EPS: Net earnings $ 1,436 3,150,082 $ 0.45 $ 1,631 3,142,244 $ 0.52 Effect of dilutive securities-incremental shares from assumed conversion of options 158 4,634 Diluted EPS: Net earnings $ 1,436 3,150,240 $ 0.45 $ 1,631 3,146,878 $ 0.52 |
Note 6 - Stock Option Plans (Ta
Note 6 - Stock Option Plans (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | June 30, 2020 Weighted average risk-free interest rate 1.46 % Expected dividend yield 0.60 % Expected stock volatility 14.69 % Expected life in years 6.5 Per share fair value of options issued during period $ 3.26 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Wtd-Avg Grant-Date Number of Fair Value Grant-Date Fair Shares per Share Value Non-vested restricted stock outstanding at December 31, 2018 - $ - $ - Restricted stock issued in 2019 3,600 $ 18.52 $ 67,000 Non-vested restricted stock outstanding at June 30, 2019 and December 31, 2019 3,600 $ 18.52 $ 67,000 Restricted stock issued in 2020 3,835 $ 20.40 $ 78,000 Restricted stock shares vested in 2020 (1,200 ) $ (18.52 ) $ (22,000 ) Non-vested restricted stock outstanding at June 30, 2020 6,235 $ 19.72 $ 123,000 |
The 2007 Stock Option Plan [Member] | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term (years) Value Outstanding at December 31, 2018 4,700 $ 11.37 Options exercised (300 ) $ 10.00 Outstanding at June 30, 2019 4,400 $ 11.46 Options forfeited (2,000 ) $ 10.72 Options exercised (200 ) $ 10.00 Outstanding at December 31, 2019 2,200 $ 12.27 Options exercised (2,000 ) $ 12.50 Outstanding at June 30, 2020 200 $ 10.00 0.51 $ 1,000 Exercisable at June 30, 2020 200 $ 10.00 0.51 $ 1,000 |
The 2015 Stock Incentive Compensation Plan [Member] | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- Weighted- Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term (years) Value Outstanding at December 31, 2018 263,457 $ 19.78 Options forfeited (12,440 ) $ 20.09 Outstanding at June 30, 2019 251,017 $ 19.77 Options granted 22,000 $ 20.21 Options forfeited (750 ) $ 20.09 Outstanding at December 31, 2019 272,267 $ 19.80 Options granted 15,000 $ 20.05 Options forfeited (110 ) $ 20.09 Outstanding at June 30, 2020 287,157 $ 19.82 7.41 $ - Exercisable at June 30, 2020 71,797 $ 18.97 5.64 $ - |
Note 8 - Fair Value of Financ_2
Note 8 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At June 30, 2020 At December 31, 2019 Carrying Fair Carrying Fair (in thousands) Level Amount Value Amount Value Financial assets: Cash and cash equivalents 1 $ 62,307 $ 62,307 $ 75,082 $ 75,082 Debt securities available for sale 2 66,898 66,898 61,333 61,333 Loans held for sale 3 8,949 9,095 6,193 6,296 Loans, net 3 442,574 448,733 337,710 342,435 Federal Home Loan Bank stock 3 493 493 404 404 Accrued interest receivable 3 1,723 1,723 1,137 1,137 Financial liabilities: Deposits 3 536,514 537,496 438,624 439,208 Other borrowings 3 - - 1,254 1,254 Off-Balance Sheet Items 3 - - - - |
Note 9 - Off-balance Sheet Fi_2
Note 9 - Off-balance Sheet Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | At June 30, 2020 (in thousands) Commitments to extend credit $ 10,703 Construction loans in process $ 15,120 Unused lines of credit $ 54,580 Standby financial letters of credit $ 2,347 Standby performance letters of credit $ 318 Guaranteed accounts $ 1,383 |
Note 10 - Contingency (Tables)
Note 10 - Contingency (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Financing Receivable, Loans With Payment Deferrals [Table Text Block] | (dollars in thousands) Percent Average Full Weighted of Number of Dollar Balance Interest Interest Payment Average Total Loan Loans Amount Loans Loans Only Only Deferral LTV Loans Collateral Collateral or Loan Type Modified Modified Modified 3 Months 4-6 Months 3 Months Modified or Type 1-4 family owner occupied 15 $ 7,558 $ 504 $ - $ - $ 7,558 75.0 % 17.8 % 1-4 family non-owner occupied 9 3,035 337 948 167 1,920 67.0 7.1 CRE owner occupied 13 10,730 825 - - 10,730 61.0 25.3 CRE non-owner occupied 9 16,407 1,823 - 1,737 14,670 62.0 38.7 Commercial & Industrial 15 3,898 260 417 672 2,809 N/A 9.2 Construction/Land 7 781 112 23 - 758 47.0 1.8 Consumer 2 29 15 29 - - N/A 0.1 Total 70 $ 42,438 $ 606 $ 1,417 $ 2,576 $ 38,445 - 100.0 % |
Origination of Loans Under Paycheck Protection Program [Table Text Block] | (dollars in thousands) Total Avg. Loan % of Category Balance Balance Total Hospitality $ 6,368 $ 75 7.8 % Real estate services and construction 13,033 72 16.0 Wholesale and retail trade and manufacturing 10,861 88 13.3 Financial, professional, and information services 23,234 113 28.5 Administrative, religious and other services 16,334 86 20.1 Healthcare services 11,621 168 14.3 TOTAL $ 81,451 $ 95 100.0 % |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) | Jun. 30, 2020 |
Subsidiary, Ownership Percentage By Parent | 100.00% |
Note 2 - Debt Securities Avai_3
Note 2 - Debt Securities Available for Sale (Details Textual) | Jun. 30, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 9 | 13 |
Note 2 - Debt Securities Avai_4
Note 2 - Debt Securities Available for Sale - Summary of Carrying Amount and Fair Values of Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Amortized Cost | $ 65,082 | $ 61,064 |
Gross Unrealized Gains | 2,105 | 496 |
Gross Unrealized Losses | (289) | (227) |
Debt securities available for sale | 66,898 | 61,333 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 275 | 408 |
Gross Unrealized Gains | 4 | |
Gross Unrealized Losses | (1) | |
Debt securities available for sale | 279 | 407 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 11,824 | 9,332 |
Gross Unrealized Gains | 567 | 81 |
Gross Unrealized Losses | (72) | |
Debt securities available for sale | 12,391 | 9,341 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 47,497 | 45,499 |
Gross Unrealized Gains | 1,534 | 401 |
Gross Unrealized Losses | (30) | (97) |
Debt securities available for sale | 49,001 | 45,803 |
Asset-backed Securities [Member] | ||
Amortized Cost | 5,486 | 5,825 |
Gross Unrealized Gains | 14 | |
Gross Unrealized Losses | (259) | (57) |
Debt securities available for sale | $ 5,227 | $ 5,782 |
Note 2 - Debt Security- Summary
Note 2 - Debt Security- Summary of Sale of Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2019 | |
Proceeds from sale of debt securities | $ 4,245 | ||
Gross gains | 27 | ||
Gross losses | (20) | ||
Net gain on sale of debt securities | $ 7 |
Note 2 - Debt Securities Avai_5
Note 2 - Debt Securities Available for Sale - Summary of Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Gross Unrealized Losses, Less Than Twelve Months | $ (192) | $ (186) |
Fair Value, Less Than Twelve Months | 6,681 | 12,751 |
Gross Unrealized Losses, Over Twelve Months | (97) | (41) |
Fair Value, Over Twelve Months | 3,976 | 4,115 |
Collateralized Mortgage Backed Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (17) | (56) |
Fair Value, Less Than Twelve Months | 3,370 | 4,629 |
Gross Unrealized Losses, Over Twelve Months | (13) | (41) |
Fair Value, Over Twelve Months | 2,060 | 4,115 |
Asset-backed Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (175) | (57) |
Fair Value, Less Than Twelve Months | 3,311 | 3,901 |
Gross Unrealized Losses, Over Twelve Months | (84) | |
Fair Value, Over Twelve Months | $ 1,916 | |
US Government Agencies Debt Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (1) | |
Fair Value, Less Than Twelve Months | 407 | |
Gross Unrealized Losses, Over Twelve Months | ||
Fair Value, Over Twelve Months | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Gross Unrealized Losses, Less Than Twelve Months | (72) | |
Fair Value, Less Than Twelve Months | 3,814 | |
Gross Unrealized Losses, Over Twelve Months | ||
Fair Value, Over Twelve Months |
Note 2 - Debt Securities Avai_6
Note 2 - Debt Securities Available for Sale - Securities Available for Sale Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Debt securities available for sale | $ 66,898 | $ 61,333 |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale | 279 | 407 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 12,391 | 9,341 |
Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 49,001 | 45,803 |
Asset-backed Securities [Member] | ||
Debt securities available for sale | 5,227 | 5,782 |
Fair Value, Recurring [Member] | ||
Debt securities available for sale | 66,898 | 61,333 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 66,898 | 61,333 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale | 279 | 407 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 279 | 407 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 12,391 | 9,341 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 12,391 | 9,341 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 49,001 | 45,803 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 49,001 | 45,803 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Debt securities available for sale | 5,227 | 5,782 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt securities available for sale | ||
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 5,227 | 5,782 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale |
Note 2 - Debt Securities Avai_7
Note 2 - Debt Securities Available for Sale - Scheduled Maturities of Securities with Fair Value and Amortized Cost (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Due in less than one year, amortized cost | $ 361 | |
Due in less than one year, Fair value | 361 | |
Due in one to five years, amortized cost | 725 | |
Due in one to five years, Fair value | 734 | |
Due in five to ten years, amortized cost | 3,579 | |
Due in five to ten years, Fair value | 3,854 | |
Due after ten years, amortized cost | 12,920 | |
Due after ten years, Fair value | 12,948 | |
Mortgage-backed securities, amortized cost | 47,497 | |
Mortgage-backed securities, Fair value | 49,001 | |
Total, amortized cost | 65,082 | $ 61,064 |
Total, Fair value | $ 66,898 | $ 61,333 |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | |
Number of Portfolio Classes | 5 | 5 | ||
Impairment Valuation Loan Limit | $ 500,000 | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | 0 | 2 |
Financing Receivable, Troubled Debt Restructuring | $ 276,000 | $ 276,000 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | ||
Nonperforming Financial Instruments [Member] | Collateral Pledged [Member] | Fair Value, Nonrecurring [Member] | ||||
Loans Receivable, Fair Value Disclosure | $ 0 | $ 0 | $ 0 | $ 0 |
Minimum [Member] | Loans Receivable [Member] | ||||
Loan Maturity Period (Year) | 1 year | |||
Maximum [Member] | Loans Receivable [Member] | ||||
Loan Maturity Period (Year) | 10 years | |||
Real Estate Mortgage Loans [Member] | ||||
Number of Portfolio Classes | 3 | 3 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Period of Fixed Interest Rate (Year) | 5 years | |||
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | ||||
Loan Maturity Period (Year) | 3 years | |||
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||||
Loan Maturity Period (Year) | 5 years | |||
Residential Portfolio Segment [Member] | Period 1 [Member] | ||||
Period of Fixed Interest Rate (Year) | 15 years | |||
Period of Adjustment of Interest Rate (Year) | 1 year | |||
Residential Portfolio Segment [Member] | Period 2 [Member] | ||||
Period of Fixed Interest Rate (Year) | 30 years | |||
Period of Adjustment of Interest Rate (Year) | 3 years | |||
Residential Portfolio Segment [Member] | Period 3 [Member] | ||||
Period of Adjustment of Interest Rate (Year) | 5 years | |||
Residential Portfolio Segment [Member] | Period 4 [Member] | ||||
Period of Adjustment of Interest Rate (Year) | 7 years | |||
Real Estate Construction Loan [Member] | Minimum [Member] | ||||
Loan Maturity Period (Year) | 1 year | |||
Real Estate Construction Loan [Member] | Maximum [Member] | ||||
Loan Maturity Period (Year) | 2 years | |||
Commercial Portfolio Segment [Member] | Maximum [Member] | Equipment Loans [Member] | ||||
Loan Maturity Period (Year) | 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 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Total loans | $ 449,667 | $ 341,625 | ||||
Net deferred loan (fees) costs | (1,845) | 499 | ||||
Allowance for loan losses | (5,248) | $ (4,707) | (4,414) | $ (4,006) | $ (3,800) | $ (3,661) |
Loans, net | 442,574 | 337,710 | ||||
Mortgage Receivable [Member] | ||||||
Total loans | 293,044 | 264,224 | ||||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Total loans | 108,970 | 94,728 | ||||
Allowance for loan losses | (1,213) | (1,182) | (1,046) | (813) | (847) | (917) |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||||||
Total loans | 141,932 | 135,913 | ||||
Allowance for loan losses | (1,637) | (1,612) | (1,573) | (1,458) | (1,429) | (1,397) |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||||||
Total loans | 42,142 | 33,583 | ||||
Allowance for loan losses | (514) | (472) | (415) | (425) | (362) | (391) |
Loans and Finance Receivables [Member] | ||||||
Total loans | 341,625 | |||||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||||||
Total loans | 149,437 | 69,770 | ||||
Allowance for loan losses | (1,536) | (1,315) | (1,284) | (1,225) | (1,068) | (876) |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||||||
Total loans | 7,186 | 7,631 | ||||
Allowance for loan losses | $ (112) | $ (126) | $ (96) | $ (85) | $ (94) | $ (80) |
Note 3 - Loans - Summary of Cha
Note 3 - Loans - Summary of Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Beginning balance | $ 4,707 | $ 3,800 | $ 4,414 | $ 3,661 | |
Provision (credit) for loan losses | 1,227 | 179 | 1,863 | 344 | |
Net (charge-offs) recoveries | (686) | 27 | (1,029) | 1 | |
Ending balance | 5,248 | 4,006 | 5,248 | 4,006 | |
Recorded investment, individually evaluated for impairment | 1,887 | 1,887 | $ 3,220 | ||
Balance in allowance for loan losses, individually evaluated for impairment | 289 | 289 | 414 | ||
Recorded investment, collectively evaluated for impairment | 447,780 | 447,780 | 338,405 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 4,959 | 4,959 | 4,000 | ||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 1,182 | 847 | 1,046 | 917 | |
Provision (credit) for loan losses | 31 | (34) | 167 | (104) | |
Net (charge-offs) recoveries | |||||
Ending balance | 1,213 | 813 | 1,213 | 813 | |
Recorded investment, individually evaluated for impairment | 119 | 119 | 611 | ||
Balance in allowance for loan losses, individually evaluated for impairment | |||||
Recorded investment, collectively evaluated for impairment | 108,851 | 108,851 | 94,117 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 1,213 | 1,213 | 1,046 | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | |||||
Beginning balance | 1,612 | 1,429 | 1,573 | 1,397 | |
Provision (credit) for loan losses | 58 | 29 | 112 | 61 | |
Net (charge-offs) recoveries | (33) | (48) | |||
Ending balance | 1,637 | 1,458 | 1,637 | 1,458 | |
Recorded investment, individually evaluated for impairment | 1,089 | 1,089 | 965 | ||
Balance in allowance for loan losses, individually evaluated for impairment | 15 | ||||
Recorded investment, collectively evaluated for impairment | 140,843 | 140,843 | 134,948 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 1,637 | 1,637 | 1,558 | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | |||||
Beginning balance | 472 | 362 | 415 | 391 | |
Provision (credit) for loan losses | 42 | 63 | 99 | 34 | |
Net (charge-offs) recoveries | |||||
Ending balance | 514 | 425 | 514 | 425 | |
Recorded investment, individually evaluated for impairment | |||||
Balance in allowance for loan losses, individually evaluated for impairment | |||||
Recorded investment, collectively evaluated for impairment | 42,142 | 42,142 | 33,583 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 514 | 514 | 415 | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | |||||
Beginning balance | 1,315 | 1,068 | 1,284 | 876 | |
Provision (credit) for loan losses | 882 | 133 | 1,228 | 347 | |
Net (charge-offs) recoveries | (661) | 24 | (976) | 2 | |
Ending balance | 1,536 | 1,225 | 1,536 | 1,225 | |
Recorded investment, individually evaluated for impairment | 642 | 642 | 1,631 | ||
Balance in allowance for loan losses, individually evaluated for impairment | 252 | 252 | 386 | ||
Recorded investment, collectively evaluated for impairment | 148,795 | 148,795 | 68,139 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 1,284 | 1,284 | 898 | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | |||||
Beginning balance | 126 | 94 | 96 | 80 | |
Provision (credit) for loan losses | (22) | (12) | 21 | 6 | |
Net (charge-offs) recoveries | 8 | 3 | (5) | (1) | |
Ending balance | 112 | 85 | 112 | 85 | |
Recorded investment, individually evaluated for impairment | 37 | 37 | 13 | ||
Balance in allowance for loan losses, individually evaluated for impairment | 37 | 37 | 13 | ||
Recorded investment, collectively evaluated for impairment | 7,149 | 7,149 | 7,618 | ||
Balance in allowance for loan losses, collectively evaluated for impairment | 75 | 75 | 83 | ||
Loans and Finance Receivables [Member] | Unallocated Financing Receivables [Member] | |||||
Beginning balance | |||||
Provision (credit) for loan losses | 236 | 236 | |||
Net (charge-offs) recoveries | |||||
Ending balance | 236 | 236 | |||
Recorded investment, individually evaluated for impairment | |||||
Balance in allowance for loan losses, individually evaluated for impairment | |||||
Recorded investment, collectively evaluated for impairment | |||||
Balance in allowance for loan losses, collectively evaluated for impairment | $ 236 | $ 236 |
Note 3 - Loans - Summary of Loa
Note 3 - Loans - Summary of Loan Credit Quality (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans by credit quality | $ 449,667 | $ 341,625 |
Pass [Member] | ||
Loans by credit quality | 442,725 | 332,536 |
Special Mention [Member] | ||
Loans by credit quality | 4,826 | 5,589 |
Substandard [Member] | ||
Loans by credit quality | 2,116 | 3,500 |
Doubtful [Member] | ||
Loans by credit quality | ||
Unlikely to be Collected Financing Receivable [Member] | ||
Loans by credit quality | ||
Mortgage Receivable [Member] | ||
Loans by credit quality | 293,044 | 264,224 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans by credit quality | 108,970 | 94,728 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 107,372 | 92,586 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 1,479 | 1,531 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 119 | 611 |
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 | 141,932 | 135,913 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 139,625 | 133,351 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 1,218 | 1,597 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 1,089 | 965 |
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 | 42,142 | 33,583 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Pass [Member] | ||
Loans by credit quality | 41,291 | 32,374 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Special Mention [Member] | ||
Loans by credit quality | 851 | 1,209 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Substandard [Member] | ||
Loans by credit quality | ||
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] | ||
Loans by credit quality | 341,625 | |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||
Loans by credit quality | 149,437 | 69,770 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 147,316 | 66,649 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 1,238 | 1,197 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 883 | 1,924 |
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 | 7,186 | 7,631 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans by credit quality | 7,121 | 7,576 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans by credit quality | 40 | 55 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans by credit quality | 25 | |
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 ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Accruing Loans, Past Due | $ 5 | |
Accruing Loans, Current | 447,906 | |
Nonaccrual Loans | 1,756 | |
Loans by credit quality | 449,667 | $ 341,625 |
Total loans | 449,667 | 341,625 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 4 | |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 1 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | ||
Loans by credit quality | 293,044 | 264,224 |
Total loans | 293,044 | 264,224 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accruing Loans, Past Due | ||
Accruing Loans, Current | 108,970 | |
Nonaccrual Loans | ||
Loans by credit quality | 108,970 | 94,728 |
Total loans | 108,970 | 94,728 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Accruing Loans, Current | 94,728 | |
Nonaccrual Loans | ||
Loans by credit quality | 94,728 | |
Total loans | 94,728 | |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||
Accruing Loans, Past Due | 569 | |
Accruing Loans, Current | 140,843 | 134,379 |
Nonaccrual Loans | 1,089 | 965 |
Loans by credit quality | 141,932 | 135,913 |
Total loans | 141,932 | 135,913 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 569 | |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||
Accruing Loans, Past Due | 82 | |
Accruing Loans, Current | 42,142 | 33,501 |
Nonaccrual Loans | ||
Loans by credit quality | 42,142 | 33,583 |
Total loans | 42,142 | 33,583 |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 82 | |
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | ||
Accruing Loans, Past Due | 743 | |
Accruing Loans, Current | 338,291 | |
Nonaccrual Loans | 2,591 | |
Loans by credit quality | 341,625 | |
Total loans | 341,625 | |
Loans and Finance Receivables [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 738 | |
Loans and Finance Receivables [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 5 | |
Loans and Finance Receivables [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||
Accruing Loans, Past Due | 5 | 87 |
Accruing Loans, Current | 148,790 | 68,057 |
Nonaccrual Loans | 642 | 1,626 |
Loans by credit quality | 149,437 | 69,770 |
Total loans | 149,437 | 69,770 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | 4 | 87 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 1 | |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||
Accruing Loans, Past Due | 5 | |
Accruing Loans, Current | 7,161 | 7,626 |
Nonaccrual Loans | 25 | |
Loans by credit quality | 7,186 | 7,631 |
Total loans | 7,186 | 7,631 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing Loans, Past Due | ||
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing Loans, Past Due | 5 | |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | Financial Asset, Equal to or 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 | Jun. 30, 2020 | Dec. 31, 2019 |
With No Related Allowance Recorded, Recorded Investment | $ 1,208 | $ 1,835 |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance (USD) | 1,208 | 1,835 |
With an Allowance Recorded, Recorded Investment | 679 | 1,385 |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 679 | 1,385 |
Related Allowance | 289 | 414 |
Total Recorded Investment | 1,887 | 3,220 |
Total Unpaid Contractual Principal Balance | 1,887 | 3,220 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | 119 | 611 |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance (USD) | 119 | 611 |
With an Allowance Recorded, Recorded Investment | ||
With an Allowance Recorded, Unpaid Contractual Principal Balance | ||
Related Allowance | ||
Total Recorded Investment | 119 | 611 |
Total Unpaid Contractual Principal Balance | 119 | 611 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | 1,089 | 716 |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance (USD) | 1,089 | 716 |
With an Allowance Recorded, Recorded Investment | 249 | |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 249 | |
Related Allowance | 15 | |
Total Recorded Investment | 1,089 | 965 |
Total Unpaid Contractual Principal Balance | 1,089 | 965 |
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||
With No Related Allowance Recorded, Recorded Investment | 508 | |
With No Related Allowance Recorded, Unpaid Contractual Principal Balance (USD) | 508 | |
With an Allowance Recorded, Recorded Investment | 642 | 1,123 |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 642 | 1,123 |
Related Allowance | 252 | 386 |
Total Recorded Investment | 642 | 1,631 |
Total Unpaid Contractual Principal Balance | 642 | 1,631 |
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 (USD) | ||
With an Allowance Recorded, Recorded Investment | 37 | 13 |
With an Allowance Recorded, Unpaid Contractual Principal Balance | 37 | 13 |
Related Allowance | 37 | 13 |
Total Recorded Investment | 37 | 13 |
Total Unpaid Contractual Principal Balance | $ 37 | $ 13 |
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 | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Average recorded investment | $ 2,758 | $ 1,524 | $ 2,934 | $ 1,398 |
Interest income recognized | 8 | 12 | 19 | 25 |
Interest income received | 7 | 16 | 18 | 28 |
Mortgage Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Average recorded investment | 298 | 611 | 484 | 611 |
Interest income recognized | 5 | 8 | 12 | 16 |
Interest income received | 4 | 8 | 11 | 16 |
Mortgage Receivable [Member] | Residential Portfolio Segment [Member] | ||||
Average recorded investment | 929 | 439 | 906 | 430 |
Interest income recognized | 4 | |||
Interest income received | 2 | 5 | ||
Mortgage Receivable [Member] | Real Estate Construction Loan [Member] | ||||
Average recorded investment | ||||
Interest income recognized | 1 | |||
Interest income received | 1 | |||
Loans and Finance Receivables [Member] | Commercial Portfolio Segment [Member] | ||||
Average recorded investment | 1,505 | 455 | 1,531 | 343 |
Interest income recognized | 3 | 4 | 7 | 4 |
Interest income received | 3 | 6 | 7 | 6 |
Loans and Finance Receivables [Member] | Consumer Portfolio Segment [Member] | ||||
Average recorded investment | 26 | 19 | 13 | 14 |
Interest income recognized | ||||
Interest income received |
Note 3 - Loans - Summary of L_2
Note 3 - Loans - Summary of Loans Determined to Be Troubled Debt Restructurings (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | |
Number of Contracts | 0 | 2 | 0 | 2 |
Current Modification Outstanding Recorded Investment | $ 276,000 | $ 276,000 | ||
Modified Principal [Member] | ||||
Number of Contracts | 2 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 126,000 | $ 126,000 | ||
Post-Modification Outstanding Recorded Investment | 126,000 | 126,000 | ||
Current Modification Outstanding Recorded Investment | $ 126,000 | $ 126,000 | ||
Real Estate Construction Loan [Member] | Modified Principal [Member] | ||||
Number of Contracts | ||||
Pre-Modification Outstanding Recorded Investment | ||||
Post-Modification Outstanding Recorded Investment | ||||
Current Modification Outstanding Recorded Investment | ||||
Residential Portfolio Segment [Member] | Modified Principal [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 66,000 | $ 66,000 | ||
Post-Modification Outstanding Recorded Investment | 66,000 | 66,000 | ||
Current Modification Outstanding Recorded Investment | $ 66,000 | $ 66,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Modified Principal [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 60,000 | $ 60,000 | ||
Post-Modification Outstanding Recorded Investment | 60,000 | 60,000 | ||
Current Modification Outstanding Recorded Investment | $ 60,000 | $ 60,000 |
Note 4 - Regulatory Capital (De
Note 4 - Regulatory Capital (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
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 | Jun. 30, 2020 | Dec. 31, 2019 |
Tier 1 Leverage Capital, actual amount | $ 52,489 | $ 46,752 |
Tier 1 Leverage Capital, actual percentage | 0.0899 | 0.0931 |
Tier 1 Leverage Capital, For Capital Adequacy Purposes, Amount | $ 23,358 | $ 20,084 |
Tier 1 Leverage Capital, For Capital Adequacy Purposes, Percentage | 0.04 | 0.04 |
Tier 1 Leverage Capital, For Well Capitalized Purposes, Amount | $ 29,198 | $ 25,105 |
Tier 1 Leverage Capital, For Well Capitalized Purposes, Percentage | 0.05 | 0.05 |
Common Equity Tier 1 Risk-based Capital, actual amount | $ 52,489 | $ 46,752 |
Common Equity Tier 1 Risk-based Capital, actual percentage | 0.138 | 0.1324 |
Common Equity Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Amount | $ 17,115 | $ 15,885 |
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 | $ 24,722 | $ 22,945 |
Common Equity Tier 1 Risk-based Capital, For Well Capitalized Purposes, Percentage | 6.50% | 6.50% |
Tier 1 Risk-based Capital, actual amount | $ 52,489 | $ 46,752 |
Tier 1 Risk-based Capital, actual percentage | 0.138 | 0.1324 |
Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Amount | $ 22,820 | $ 21,180 |
Tier 1 Risk-based Capital, For Capital Adequacy Purposes, Percentage | 0.06 | 0.06 |
Tier 1 Risk-based Capital, For Well Capitalized Purposes, Amount | $ 30,426 | $ 28,240 |
Tier 1 Risk-based Capital, For Well Capitalized Purposes, Percentage | 0.08 | 0.08 |
Total Risk-based Capital, actual amount | $ 57,248 | $ 51,165 |
Total Risk-based Capital, actual percentage | 0.1505 | 0.1449 |
Total Risk-based Capital, For Capital Adequacy Purposes, Amount | $ 30,426 | $ 28,240 |
Total Risk-based Capital, For Well Capitalized Purposes, Amount | $ 38,033 | $ 35,300 |
Total Risk-based Capital, For Well Capitalized Purposes, Percentage | 0.1 | 0.1 |
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 | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net earnings, basic | $ 720 | $ 764 | $ 1,436 | $ 1,631 |
Weighted-average Shares, basic (in shares) | 3,116,307 | 3,144,068 | 3,150,082 | 3,142,244 |
Net earnings, per share amount, basic (in dollars per share) | $ 0.23 | $ 0.24 | $ 0.45 | $ 0.52 |
Effect of dilutive securities-incremental shares from assumed conversion of options (in shares) | 63 | 6,068 | 158 | 4,634 |
Net earnings, diluted | $ 720 | $ 764 | $ 1,436 | $ 1,631 |
Weighted-average Shares, diluted (in shares) | 3,116,370 | 3,150,136 | 3,150,240 | 3,146,878 |
Net earnings, per share amount, diluted (in dollars per share) | $ 0.23 | $ 0.24 | $ 0.45 | $ 0.52 |
Note 6 - Stock Option Plans (De
Note 6 - Stock Option Plans (Details Textual) - USD ($) | Feb. 21, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | May 20, 2015 |
Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 3,835 | 3,600 | 3,600 | |||||
Share-based Payment Arrangement, Expense | $ 22,000 | $ 8,000 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 104,000 | $ 104,000 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 109 days | |||||||
Restricted Stock [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
The 2015 Stock Incentive Compensation Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 287,267 | 287,267 | ||||||
Share-based Payment Arrangement, Expense | $ 55,000 | $ 44,000 | $ 106,000 | 86,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 15,000 | 22,000 | ||||||
The 2015 Stock Incentive Compensation Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 500,000 | 500,000 | ||||||
Maximum Percentage of Shares Issued | 15.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 172,708 | 172,708 | ||||||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 5,000 | 10,000 | $ 6,000 | 10,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 502,000 | $ 502,000 | ||||||
Share-based Compensation Arrangement By Share-based Payment Award, Options, Nonvested, Weighted Average Remaining Contractual Term (Year) | 3 years 10 days | |||||||
The 2015 Stock Incentive Compensation Plan [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 7,435 | |||||||
Share-based Payment Arrangement, Expense | 12,000 | 6,000 | $ 22,000 | 8,000 | ||||
The 2007 Stock Option Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||||||
The 2007 Stock Option Plan [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 | $ 0 | ||||||
Directors' Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 74,805 | 74,805 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 49,480 | 49,480 | ||||||
Share-based Payment Arrangement, Expense | $ 21,000 | $ 19,000 | $ 41,000 | $ 31,000 | ||||
Stock Consideration on Percentage of Common Stock Received Upon Cash Fees | 110.00% | 110.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,165 | 1,016 | 2,160 | 1,611 |
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 ($) | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Number of Options, Outstanding, beginning balance (in shares) | 272,267 | 251,017 | 263,457 |
Weighted-average Exercise Price, Outstanding, beginning balance (in dollars per share) | $ 19.80 | $ 19.77 | $ 19.78 |
Number of Options, forfeited (in shares) | (110) | (750) | (12,440) |
Weighted-average Exercise Price, forfeited (in dollars per share) | $ 20.09 | $ 20.09 | $ 20.09 |
Number of Options, granted (in shares) | 15,000 | 22,000 | |
Weighted-average Exercise Price, Options granted (in dollars per share) | $ 20.05 | $ 20.21 | |
Number of Options, outstanding (in shares) | 287,157 | 272,267 | 251,017 |
Weighted-average Exercise Price, Outstanding (in dollars per share) | $ 19.82 | $ 19.80 | $ 19.77 |
Weighted-average Remaining Contractual Term, Outstanding (Year) | 7 years 149 days | ||
Aggregate Intrinsic Value, Outstanding | |||
Number of Options, Exercisable (in shares) | 71,797 | ||
Weighted-average Exercise Price, Exercisable (in dollars per share) | $ 18.97 | ||
Weighted-average Remaining Contractual Term, Exercisable (Year) | 5 years 233 days | ||
Aggregate Intrinsic Value, Exercisable |
Note 6 - Stock Option Plans - B
Note 6 - Stock Option Plans - Black-Scholes Option-pricing Model Assumptions (Details) - Minimum [Member] | 6 Months Ended |
Jun. 30, 2020$ / shares | |
Weighted average risk-free interest rate | 1.46% |
Expected dividend yield | 0.60% |
Expected stock volatility | 14.69% |
Expected life in years (Year) | 6 years 182 days |
Per share fair value of options issued during period (in dollars per share) | $ 3.26 |
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 ($) | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Number of Options, Outstanding, beginning balance (in shares) | 2,200 | 4,400 | 4,700 |
Weighted-average Exercise Price, Outstanding, beginning balance (in dollars per share) | $ 12.27 | $ 11.46 | $ 11.37 |
Number of Options, Exercised (in shares) | (2,000) | (200) | (300) |
Weighted-average Exercise Price, Options exercised (in dollars per share) | $ 12.50 | $ 10 | $ 10 |
Number of Options, forfeited (in shares) | (2,000) | ||
Weighted-average Exercise Price, forfeited (in dollars per share) | $ 10.72 | ||
Number of Options, outstanding (in shares) | 200 | 2,200 | 4,400 |
Weighted-average Exercise Price, Outstanding (in dollars per share) | $ 10 | $ 12.27 | $ 11.46 |
Weighted-average Remaining Contractual Term, Outstanding (Year) | 186 days | ||
Aggregate Intrinsic Value, Outstanding | $ 1,000 | ||
Number of Options, Exercisable (in shares) | 200 | ||
Weighted-average Exercise Price, Exercisable (in dollars per share) | $ 10 | ||
Weighted-average Remaining Contractual Term, Exercisable (Year) | 186 days | ||
Aggregate Intrinsic Value, Exercisable | $ 1,000 |
Note 6 - Stock Option Plans - R
Note 6 - Stock Option Plans - Restricted Stock Activity (Details) - Restricted Stock [Member] - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Non-vested restricted stock outstanding, shares (in shares) | 6,235 | 3,600 | ||
Non-vested restricted stock outstanding, weighted average grant date fair value (in dollars per share) | $ 19.72 | $ 18.52 | ||
Non-vested restricted stock outstanding, grant date fair value | $ 123,000 | $ 67,000 | ||
Restricted stock issued (in shares) | 3,835 | 3,600 | 3,600 | |
Non-vested restricted stock issued, weighted average grant date fair value (in dollars per share) | $ 20.40 | $ 18.52 | ||
Non-vested restricted stock issued, grant date fair value | $ 78,000 | $ 67,000 | ||
Restricted stock shares vested (in shares) | (1,200) | |||
Restricted stock shares vested, weighted average grant date fair value (in dollars per share) | $ (18.52) | |||
Restricted stock shares vested, grant date fair value | $ (22,000) |
Note 7 - Federal Home Loan Ba_2
Note 7 - Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 70,000 | |
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 | Jun. 30, 2020 | Dec. 31, 2019 |
Debt securities available for sale | $ 66,898 | $ 61,333 |
Loans held for sale | 8,949 | 6,193 |
Accrued interest receivable | 1,723 | 1,137 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 62,307 | 75,082 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 66,898 | 61,333 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | 8,949 | 6,193 |
Loans Receivable, Fair Value Disclosure | 442,574 | 337,710 |
Federal Home Loan Bank stock | 493 | 404 |
Accrued interest receivable | 1,723 | 1,137 |
Deposits | 536,514 | 438,624 |
Other borrowings | 1,254 | |
Off-Balance Sheet Items | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 62,307 | 75,082 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 66,898 | 61,333 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | 9,095 | 6,296 |
Loans Receivable, Fair Value Disclosure | 448,733 | 342,435 |
Federal Home Loan Bank stock | 493 | 404 |
Accrued interest receivable | 1,723 | 1,137 |
Deposits | 537,496 | 439,208 |
Other borrowings | 1,254 | |
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] | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Debt Instrument, Term (Year) | 1 year |
Debt Instrument, Collateral Amount | $ 650,000 |
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 | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Commitments to Extend Credit [Member] | |
Contractual amounts with off-balance-sheet risk | $ 10,703 |
Construction Loans In Process [Member] | |
Contractual amounts with off-balance-sheet risk | 15,120 |
Unused lines of Credit [Member] | |
Contractual amounts with off-balance-sheet risk | 54,580 |
Standby Financial Letters of Credit [Member] | |
Contractual amounts with off-balance-sheet risk | 2,347 |
Performance Standby Letters Of Credit [Member] | |
Contractual amounts with off-balance-sheet risk | 318 |
Guaranteed Accounts [Member] | |
Contractual amounts with off-balance-sheet risk | $ 1,383 |
Note 10 - Contingency (Details
Note 10 - Contingency (Details Textual) $ in Thousands | 1 Months Ended | |
Aug. 10, 2020USD ($) | Jun. 30, 2020USD ($) | |
Number Of Loans Under PPP Approved | 855 | |
Loans Under PPP Approved Amount | $ 81,500 | |
Financing Receivable, Number of Principal and Interest Payment Deferrals | 70 | |
Financing Receivable, Principal and Interest Deferred Payments | $ 42,438 | |
Loans Under Forbearance Percentage Of Total Loan Portfolio | 11.50% | |
Subsequent Event [Member] | ||
Financing Receivable, Number of Principal and Interest Payment Deferrals | 7 | |
Financing Receivable, Principal and Interest Deferred Payments | $ 9,500 | |
Financing Receivable, Reverted Back to Pre-Modification Terms, Number of Contracts | 25 | |
Financing Receivable, Reverted Back to Pre-Modification Terms | $ 7,800 | |
Financing Receivable, Number of Principal and Interest Payments, Being Paid or Still Deferred | 38 | |
Mortgage Receivable [Member] | ||
Percentage of Forbearance Requests For Loan | 88.90% |
Note 10 - Contingency - Payment
Note 10 - Contingency - Payment Deferral Requests (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Number of Loans Modified | 70 |
Dollar Amount Loans Modified | $ 42,438 |
Average Balance Loans Modified | 606 |
Interest Only 3 Months | 1,417 |
Interest Only 4-6 Months | 2,576 |
Full Payment Deferral 3 Months | $ 38,445 |
Weighted Average LTV Loans Modified | |
Percent of Total Loan Collateral or Type | 100.00% |
Residential Portfolio Segment [Member] | One-to-Four Family, Owner Occupied [Member] | |
Number of Loans Modified | 15 |
Dollar Amount Loans Modified | $ 7,558 |
Average Balance Loans Modified | 504 |
Interest Only 3 Months | |
Interest Only 4-6 Months | |
Full Payment Deferral 3 Months | $ 7,558 |
Weighted Average LTV Loans Modified | 75.00% |
Percent of Total Loan Collateral or Type | 17.80% |
Residential Portfolio Segment [Member] | One-to-Four Family, Non-owner Occupied [Member] | |
Number of Loans Modified | 9 |
Dollar Amount Loans Modified | $ 3,035 |
Average Balance Loans Modified | 337 |
Interest Only 3 Months | 948 |
Interest Only 4-6 Months | 167 |
Full Payment Deferral 3 Months | $ 1,920 |
Weighted Average LTV Loans Modified | 67.00% |
Percent of Total Loan Collateral or Type | 7.10% |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | |
Number of Loans Modified | 13 |
Dollar Amount Loans Modified | $ 10,730 |
Average Balance Loans Modified | 825 |
Interest Only 3 Months | |
Interest Only 4-6 Months | |
Full Payment Deferral 3 Months | $ 10,730 |
Weighted Average LTV Loans Modified | 61.00% |
Percent of Total Loan Collateral or Type | 25.30% |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Non-owner Occupied [Member] | |
Number of Loans Modified | 9 |
Dollar Amount Loans Modified | $ 16,407 |
Average Balance Loans Modified | 1,823 |
Interest Only 3 Months | |
Interest Only 4-6 Months | 1,737 |
Full Payment Deferral 3 Months | $ 14,670 |
Weighted Average LTV Loans Modified | 62.00% |
Percent of Total Loan Collateral or Type | 38.70% |
Commercial Portfolio Segment [Member] | |
Number of Loans Modified | 15 |
Dollar Amount Loans Modified | $ 3,898 |
Average Balance Loans Modified | 260 |
Interest Only 3 Months | 417 |
Interest Only 4-6 Months | 672 |
Full Payment Deferral 3 Months | $ 2,809 |
Percent of Total Loan Collateral or Type | 9.20% |
Real Estate Construction Loan [Member] | |
Number of Loans Modified | 7 |
Dollar Amount Loans Modified | $ 781 |
Average Balance Loans Modified | 112 |
Interest Only 3 Months | 23 |
Interest Only 4-6 Months | |
Full Payment Deferral 3 Months | $ 758 |
Weighted Average LTV Loans Modified | 47.00% |
Percent of Total Loan Collateral or Type | 1.80% |
Consumer Portfolio Segment [Member] | |
Number of Loans Modified | 2 |
Dollar Amount Loans Modified | $ 29 |
Average Balance Loans Modified | 15 |
Interest Only 3 Months | 29 |
Interest Only 4-6 Months | |
Full Payment Deferral 3 Months | |
Percent of Total Loan Collateral or Type | 0.10% |
Note 10 - Contingency - Origina
Note 10 - Contingency - Origination of PPP Loans (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Loans Originated | $ 81,451 |
Loans Originated, average loan balance | $ 95 |
Loans Originated, percent of total | 100.00% |
Hospitality [Member] | |
Loans Originated | $ 6,368 |
Loans Originated, average loan balance | $ 75 |
Loans Originated, percent of total | 7.80% |
Real Estate Services and Construction [Member] | |
Loans Originated | $ 13,033 |
Loans Originated, average loan balance | $ 72 |
Loans Originated, percent of total | 16.00% |
Wholesale and Retail Trade and Manufacturing [Member] | |
Loans Originated | $ 10,861 |
Loans Originated, average loan balance | $ 88 |
Loans Originated, percent of total | 13.30% |
Financial, Professional, and Information Services [Member] | |
Loans Originated | $ 23,234 |
Loans Originated, average loan balance | $ 113 |
Loans Originated, percent of total | 28.50% |
Administrative, Religious and Other Services [Member] | |
Loans Originated | $ 16,334 |
Loans Originated, average loan balance | $ 86 |
Loans Originated, percent of total | 20.10% |
Healthcare Services [Member] | |
Loans Originated | $ 11,621 |
Loans Originated, average loan balance | $ 168 |
Loans Originated, percent of total | 14.30% |