Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 12, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | New Bancorp, Inc. | |
Entity Central Index Key | 1,644,482 | |
Trading Symbol | nwbb | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 719,031 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Ex Transition Period | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 1,595 | $ 1,085 |
Interest-earning demand deposits | 2,058 | 2,997 |
Federal funds sold | 10,124 | 11,711 |
Cash and cash equivalents | 13,777 | 15,793 |
Interest-earning time deposits in banks | 744 | |
Loans held for sale | 3,234 | |
Loans, net of allowance for loan losses of $1,076, and $1,123 at September 30, 2018 and December 31, 2017, respectively | 94,050 | 97,512 |
Premises and equipment | 1,917 | 1,894 |
Federal Home Loan Bank stock | 468 | 468 |
Foreclosed real estate held for sale | 193 | |
Accrued interest receivable | 269 | 267 |
Bank owned life insurance | 5,717 | 5,589 |
Servicing rights | 1,223 | 937 |
Prepaid expenses and other assets | 190 | 441 |
Total assets | 117,804 | 126,879 |
Liabilities | ||
Demand | 32,903 | 37,025 |
Savings and money market accounts | 23,741 | 24,742 |
Time | 34,944 | 39,921 |
Total deposits | 91,588 | 101,688 |
Borrowings | 9,027 | 9,027 |
Other liabilities | 1,278 | 812 |
Total liabilities | 101,893 | 111,527 |
Commitments and Contingencies | ||
Redeemable common stock held by Employee Stock Ownership Plan (ESOP) | 205 | 160 |
Shareholders' Equity | ||
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued | 0 | 0 |
Common stock, $0.01 par value, 4,000,000 shares authorized, 719,031 shares issued and oustanding | 7 | 7 |
Additional paid-in capital | 5,903 | 5,827 |
Unearned ESOP shares | (472) | (472) |
Retained earnings | 10,473 | 9,990 |
Total shareholders' equity | 15,911 | 15,352 |
Less maximum cash obligation related to ESOP shares | (205) | (160) |
Total shareholders' equity less maximum cash obligation related to ESOP shares | 15,706 | 15,192 |
Total liabilities and shareholders' equity | $ 117,804 | $ 126,879 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans, allowance for loan losses | $ 1,076 | $ 1,123 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | ||
Common stock, shares authorized (in shares) | ||
Common stock, shares issued (in shares) | ||
Common stock, shares outstanding (in shares) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest Income | ||||
Loans | $ 1,148 | $ 1,052 | $ 3,365 | $ 2,960 |
Interest-bearing deposits | 81 | 67 | 195 | 123 |
Total interest income | 1,229 | 1,119 | 3,560 | 3,083 |
Interest Expense | ||||
Deposits | 235 | 233 | 667 | 610 |
Borrowings | 40 | 39 | 120 | 117 |
Total interest expense | 275 | 272 | 787 | 727 |
Net Interest Income | 954 | 847 | 2,773 | 2,356 |
Provision (Credit) for Loan Losses | 39 | (50) | 70 | |
Net Interest Income After Provision (Credit) for Loan Losses | 954 | 808 | 2,823 | 2,286 |
Noninterest Income | ||||
Gain on sale of loans | 208 | 494 | 874 | 1,433 |
Gain (loss) on sale of foreclosed real estate, net | (15) | 15 | ||
Income from bank owned life insurance | 43 | 43 | 128 | 128 |
Other operating | 9 | (8) | 26 | 11 |
Total noninterest income | 409 | 655 | 1,466 | 2,002 |
Noninterest Expense | ||||
Salaries and employee benefits | 697 | 645 | 2,055 | 1,953 |
Occupancy and equipment | 116 | 99 | 306 | 298 |
Data processing fees | 132 | 134 | 378 | 378 |
Franchise taxes | 14 | 10 | 32 | 40 |
FDIC insurance premiums | 8 | 12 | 37 | 30 |
Insurance premiums | 10 | 9 | 30 | 29 |
Professional services | 159 | 101 | 459 | 352 |
Impairment losses and expenses of foreclosed real estate | 3 | 2 | 3 | 15 |
Other | 128 | 158 | 506 | 420 |
Total noninterest expense | 1,267 | 1,170 | 3,806 | 3,515 |
Net Income | $ 96 | $ 293 | $ 483 | $ 773 |
Earnings per share - basic (in dollars per share) | $ 0.15 | $ 0.45 | $ 0.74 | $ 1.19 |
Earnings per share - diluted (in dollars per share) | $ 0.14 | $ 0.45 | $ 0.72 | $ 1.19 |
Weighted-average shares basic (in shares) | 653,848 | 648,230 | 653,848 | 647,617 |
Weighted-average shares diluted (in shares) | 669,679 | 650,110 | 670,716 | 648,244 |
Financial Service [Member] | ||||
Noninterest Income | ||||
Service charges and fees | $ 79 | $ 97 | $ 254 | $ 270 |
Bank Servicing [Member] | ||||
Noninterest Income | ||||
Service charges and fees | $ 70 | $ 44 | $ 184 | $ 145 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Deferred Compensation, Share-based Payments [Member] | Retained Earnings [Member] | Maximum Cash Obligation Related to ESOP Shares [Member] | Total |
Balance at Dec. 31, 2017 | $ 7 | $ 5,827 | $ (472) | $ 9,990 | $ (160) | $ 15,192 |
Compensation expense related to restricted shares | 48 | 48 | ||||
Compensation expense related to stock options | 28 | 28 | ||||
Change related to ESOP shares | (45) | (45) | ||||
Net income for the period | 483 | 483 | ||||
Balance at Sep. 30, 2018 | $ 7 | $ 5,903 | $ (472) | $ 10,473 | $ (205) | $ 15,706 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Operating Activities | ||||
Net income | $ 96 | $ 293 | $ 483 | $ 773 |
Items not requiring (providing) cash | ||||
Depreciation and amortization | 315 | 177 | ||
Provision (Credit) for Loan Losses | 39 | (50) | 70 | |
Deferred loan origination fees, costs, premiums, discounts, net | (41) | (21) | ||
Gain on sale of loans | (208) | (494) | (874) | (1,433) |
Proceeds from sales of loans originated for sale | 14,913 | 20,337 | ||
Loans originated for sale | (11,273) | (19,418) | ||
Gain on sale of foreclosed real estate | 15 | (15) | ||
Compensation expense related to stock benefit plans | 76 | 25 | ||
Increase in cash surrender value of life insurance | (43) | (43) | (128) | (128) |
Changes in | ||||
Accrued interest receivable | (2) | (16) | ||
Prepaid expenses and other assets | 251 | 22 | ||
Other liabilities | 466 | 245 | ||
Net cash provided by operating activities | 4,136 | 598 | ||
Investing Activities | ||||
Net change in loans | 3,360 | (10,990) | ||
Net change in interest-earning time accounts | 744 | 248 | ||
Purchase of premises and equipment | (156) | (78) | ||
Proceeds from sale of foreclosed assets | 601 | |||
Net cash provided by (used in) investing activities | 3,948 | (10,219) | ||
Financing Activities | ||||
Net increase (decrease) in deposits | (10,100) | 22,763 | ||
Net change in federal funds purchased | (1,000) | |||
Net cash provided by (used in) financing activities | (10,100) | 21,763 | ||
Increase (Decrease) in Cash and Cash Equivalents | (2,016) | 12,142 | ||
Cash and Cash Equivalents, Beginning of Period | 15,793 | 9,857 | ||
Cash and Cash Equivalents, End of Period | $ 13,777 | $ 21,999 | 13,777 | 21,999 |
Supplemental Disclosure of Cash Flow Information | ||||
Interest on deposits and borrowings | 802 | 715 | ||
Transfers from loans to real estate acquired through foreclosure | $ 193 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1: Basis of Presentation The accompanying condensed consolidated balance sheet of New Bancorp, Inc. (the Company) as of December 31, 2017, September 30, 2018 three nine September 30, 2018 2017, 10 10 X not December 31, 2017 10 10 In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary for a fair presentation of the unaudited financial statements have been included to present fairly the financial position as of September 30, 2018 three nine September 30, 2018 2017. not three nine September 30, 2018 not Principles of Consolidation The consolidated financial statements as of and for the periods ended September 30, 2018 December 31, 2017, October 19, 2015. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments. Reclassifications Certain reclassifications have been made to the condensed consolidated statements of income for the three nine September 30, 2017 September 30, 2018 no |
Note 2 - Securities
Note 2 - Securities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2: Securities The Company had no September 30, 2018 December 31, 2017. no nine September 30, 2018 2017. |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3: Loans and Allowance for Loan Losses The Company’s loan and allowance for loan losses policies are as follows: Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are reported at their outstanding principal balances adjusted for unearned income, charge-offs, the allowance for loan losses and any unamortized deferred fees or costs on originated loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 All interest accrued but not Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Bank’s internal risk rating process. Other adjustments may not Classes of loans at September 30, 2018 December 31, 2017 September 30, December 31, 2018 2017 (Unaudited) (In thousands) Real estate loans Residential $ 35,793 $ 41,474 Commercial 49,445 45,623 Construction and land 9,371 10,746 Commercial business 898 909 Consumer and other 440 557 Total loans 95,947 99,309 Less: Net deferred loan fees, premiums and discounts (354 ) (176 ) Undisbursed loans in process (467 ) (498 ) Allowance for loan losses (1,076 ) (1,123 ) Net loans $ 94,050 $ 97,512 Residential Real Estate: 1 4 $4.9 $4.8 September 30, 2018 December 31, 2017, first second first Commercial Real Estate: may Construction and Land: may may Commercial Business: Consumer: The following tables present by portfolio segment, the activity in the allowance for loan losses for the three nine September 30, 2018 2017 September 30, 2018 December 31, 2017: For the Three Months Ended September 30, 2018 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Allowance for loan losses: Balance, July 1, 2018 $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 Provision (credit) for loan losses - - - - - - Charge-offs - - - - - - Recoveries - - - - - - Balance, September 30, 2018 $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 For the Nine Months ended September 30, 2018 Allowance for loan losses: (In thousands) Balance, January 1, 2018 $ 540 $ 484 $ 76 $ 15 $ 8 $ 1,123 Provision (credit) for loan losses (100 ) 61 (7 ) 3 (7 ) (50 ) Charge-offs - - - - - - Recoveries - - - 3 - 3 Balance, September 30, 2018 $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 For the Three Months Ended September 30, 2017 Allowance for loan losses: (In thousands) Balance, July 1, 2017 $ 545 $ 442 $ 76 $ 15 $ 8 $ 1,086 Provision (credit) for loan losses - 39 - - - 39 Charge-offs - - - - - - Recoveries - 2 - - - 2 Balance, September 30, 2017 $ 545 $ 483 $ 76 $ 15 $ 8 $ 1,127 For the Nine Months Ended September 30, 2017 Allowance for loan losses: (In thousands) Balance, January 1, 2017 $ 656 $ 326 $ 72 $ 4 $ 5 $ 1,063 Provision (credit) for loan losses (99 ) 151 4 11 3 70 Charge-offs (12 ) (9 ) - - - (21 ) Recoveries - 15 - - - 15 Balance, September 30, 2017 $ 545 $ 483 $ 76 $ 15 $ 8 $ 1,127 At September 30, 2018 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Allowance for loan losses: Ending balance, individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, collectively evaluated for impairment $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 Loans: Ending balance $ 35,793 $ 49,445 $ 9,371 $ 898 $ 440 $ 95,947 Ending balance; individually evaluated for impairment $ 1,600 $ 37 $ 2,490 $ - $ - $ 4,127 Ending balance; collectively evaluated for impairment $ 34,193 $ 49,408 $ 6,881 $ 898 $ 440 $ 91,820 December 31, 2017 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Allowance for loan losses: Ending balance, individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, collectively evaluated for impairment $ 545 $ 480 $ 76 $ 15 $ 7 $ 1,123 Loans: Ending balance $ 41,474 $ 45,623 $ 10,746 $ 909 $ 557 $ 99,309 Ending balance; individually evaluated for impairment $ 2,294 $ 33 $ 2,312 $ - $ - $ 4,639 Ending balance; collectively evaluated for impairment $ 39,180 $ 45,590 $ 8,434 $ 909 $ 557 $ 94,670 Internal Risk Categories The Bank has adopted a standard loan grading system for all loans. Loans are selected for a grading review based on certain characteristics, including concentrations of credit and upon delinquency of 90 Pass : not Special Mention /Watch not may Substandard not may not may 90 Doubtful no not Loss not may The following tables present the credit risk profile of the Company’s loan portfolio based on internal rating category and payment activity as of September 30, 2018 December 31, 2017: September 30, 2018 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Pass $ 34,149 $ 47,935 $ 8,250 $ 898 $ 440 $ 91,672 Special mention/Watch 291 984 - - - 1,275 Substandard 1,353 526 1,121 - - 3,000 Doubtful - - - - - - Total $ 35,793 $ 49,445 $ 9,371 $ 898 $ 440 $ 95,947 December 31, 2017 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Pass $ 39,639 $ 45,136 $ 9,839 $ 876 $ 557 $ 96,047 Special mention/Watch 48 - - - - 48 Substandard 1,787 487 907 33 - 3,214 Doubtful - - - - - - Total $ 41,474 $ 45,623 $ 10,746 $ 909 $ 557 $ 99,309 The Company evaluates the loan risk grading system definitions and allowance for loan losses methodology on an ongoing basis. No The following tables present the Company’s loan portfolio aging analysis of the recorded investment in loans as of September 30, 2018 December 31, 2017: September 30, 2018 (Unaudited) Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate Residential $ 363 $ - $ - $ 363 $ 35,430 $ 35,793 $ - Commercial - - - - 49,445 49,445 - Construction and land - - - - 9,371 9,371 - Commercial business - - - - 898 898 - Consumer - - - - 440 440 - Total $ 363 $ - $ - $ 363 $ 95,584 $ 95,947 $ - December 31, 2017 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate Residential $ 73 $ 196 $ - $ 269 $ 41,205 $ 41,474 $ - Commercial - - - - 45,623 45,623 - Construction and land - - - - 10,746 10,746 - Commercial business - - - - 909 909 - Consumer - - - - 557 557 Total $ 73 $ 196 $ - $ 269 $ 99,040 $ 99,309 $ - A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310 10 35 16 The following table presents impaired loans as of September 30, 2018 three nine September 30, 2018 2017: As of For the Three Months Ended September 30, 2018 September 30, 2018 September 30, 2017 Unpaid Average Balance of Interest Average Balance of Interest Recorded Balance Principal Balance Specific Allowance Impaired Income Recognized Impaired Income Recognized (Unaudited) (In thousands) Loans without a specific valuation allowance: Real estate Residential $ 1,600 $ 1,677 $ - $ 1,791 $ 7 $ 1,122 $ 16 Commercial 37 37 - 38 1 34 1 Construction and land 2,490 2,542 - 2,454 22 1,630 23 Commercial business - - - - - - - Consumer - - - - - - - Loans with a specific valuation allowance: Real estate Residential - - - - - - - Commercial - - - - - - - Construction and land - - - - - - - Commercial business - - - - - - - Consumer - - - - - - - Totals $ 4,127 $ 4,256 $ - $ 4,283 $ 30 $ 2,786 $ 40 For the Nine Months Ended September 30, 2018 September 30, 2017 Average Balance of Impaired Interest Income Recognized Average Balance of Impaired Interest Income Recognized (In thousands) Loans without a specific valuation allowance: Real estate Residential $ 1,988 $ 24 $ 2,134 $ 53 Commercial 37 2 149 1 Construction and land 2,427 63 1,672 70 Commercial business - - - - Consumer - - - - Loans with a specific valuation allowance: Real estate Residential - - - - Commercial - - - - Construction and land - - - - Commercial business - - - - Consumer - - - - Totals $ 4,452 $ 89 $ 3,955 $ 124 The following table presents impaired loans as of December 31, 2017: As of and for the year ended December 31, 2017 Unpaid Average Balance of Interest Recorded Balance Principal Balance Specific Allowance Impaired Income Recognized (In thousands) Loans without a specific valuation allowance: Real estate Residential $ 2,294 $ 2,439 $ - $ 2,166 $ 73 Commercial 33 33 - 35 2 Construction and land 2,312 2,323 - 1,799 90 Commercial business - - - - - Consumer - - - - - Loans with a specific valuation allowance: Real estate Residential - - - - - Commercial - - - - - Construction and land - - - - - Commercial business - - - - - Consumer - - - - - Totals $ 4,639 $ 4,795 $ - $ 4,000 $ 165 The following table presents the Company’s nonaccrual loans at September 30, 2018 December 31, 2017. September 30, December 31, 2018 2017 (In thousands) Real estate loans Residential $ 1,119 $ 1,629 Commercial - - Construction and land 950 728 Commercial business - - Consumer and other - - Total nonaccrual $ 2,069 $ 2,357 At September 30, 2018 ( December 31, 2017, one During the three nine September 30, 2018 2017, no The Company had no twelve September 30, 2018 2017 30 In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank’s internal underwriting policy. The Company had no September 30, 2018 December 31, 2017. |
Note 4 - Regulatory Matters
Note 4 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 4: Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal 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 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. Furthermore, the Bank’s regulators could require adjustments to regulatory capital not At September 30, 2018 December 31, 2017, 1 1 1 Basel III was effective for the Company on January 1, 2015. 1 1 zero 2.50 2019. Management believes, as of September 30, 2018 ( December 31, 2017, As of September 30, 2018 ( December 31, 2017, no The Bank’s actual capital amounts and ratios are presented in the following table: Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of September 30, 2018 Total Capital (to Risk-Weighted Assets) $ 15,892 17.1 % $ 7,446 8.0 % $ 9,307 10.0 % Tier 1 Capital (to Risk-Weighted Assets) $ 14,816 15.9 % $ 5,584 6.0 % $ 7,446 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 14,816 15.9 % $ 4,188 4.5 % $ 6,050 6.5 % Tier I Leverage Capital (to Average Total Assets) $ 14,816 12.2 % $ 4,859 4.0 % $ 6,074 5.0 % As of December 31, 2017 Total Capital (to Risk-Weighted Assets) $ 15,094 16.3 % $ 7,694 8.0 % $ 9,243 10.0 % Tier I Capital (to Risk-Weighted Assets) $ 13,971 15.1 % $ 5,546 6.0 % $ 7,394 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 13,971 15.1 % $ 4,159 4.5 % $ 6,008 6.5 % Tier I Capital (to Total Assets) $ 13,971 11.3 % $ 4,933 4.0 % $ 6,116 5.0 % |
Note 5 - Disclosures About Fair
Note 5 - Disclosures About Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 5: Disclosures about Fair Value of Assets and Liabilities Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three may Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 not Level 3 Significant unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Nonrecurring Measurements The Company had no September 30, 2018 December 31, 2017. Fair Value of Financial Instruments The following table presents the estimated fair values of the Company’s financial instruments not September 30, 2018 December 31, 2017. Fair Value Measurement Using Carrying Value Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) September 30, 2018 Financial assets Cash and due from banks $ 1,595 $ 1,595 $ 1,595 $ - $ - Interest-earning demand deposits 2,058 2,058 2,058 - - Federal funds sold 10,124 10,124 10,124 - - Loans, net 94,050 92,947 - - 92,947 Federal Home Loan Bank stock 468 468 - 468 - Accrued interest receivable 269 269 - 269 - Servicing rights 1,223 1,223 - - 1,223 Financial liabilities Deposits 91,588 91,159 56,540 34,619 - Advances from the Federal Home Loan Bank 9,027 8,953 - 8,953 - Accrued interest payable 15 15 - 15 - December 31, 2017 Financial assets Cash and due from banks $ 1,085 $ 1,085 $ 1,085 $ - $ - Interest-earning demand deposits 2,997 2,997 2,997 - - Federal funds sold 11,711 11,711 11,711 - - Interest-earning time deposits in banks 744 744 - 744 - Loans and loans held for sale, net 100,746 100,273 - - 100,273 Federal Home Loan Bank stock 468 468 - 468 - Accrued interest receivable 267 267 - 267 - Servicing rights 937 937 - - 937 Financial liabilities Deposits 101,688 101,603 61,767 39,836 - Advances from the Federal Home Loan Bank 9,027 9,024 - 9,024 - Accrued interest payable 30 30 - 30 - The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. Cash and Due from Banks, Interest-earning Demand Deposits and Federal Funds Sold The carrying amount approximates fair value. Interest-earning Time Deposits in Banks The carrying amount approximates fair value. Loans Fair value is estimated by discounting the future cash flows using the market rates at which similar notes would be made to borrowers with similar credit ratings and for the same remaining maturities. The market rates used are based on current rates the Bank would impose for similar loans and reflect a market participant assumption about risks associated with nonperformance, illiquidity, and the structure and term of the loans along with local economic and market conditions. Federal Home Loan Bank Stock Fair value is estimated at book value due to restrictions that limit the sale or transfer of such securities. Accrued Interest Receivable and Payable The carrying amount approximates fair value. The carrying amount is determined using the interest rate, balance and last payment date. Servicing Rights Servicing rights do not Deposits Fair value of term deposits is estimated by discounting the future cash flows using rates of similar deposits with similar maturities. The market rates used were obtained from a knowledgeable independent third The estimated fair value of demand, NOW, savings and money market deposits is the book value since rates are regularly adjusted to market rates and amounts are payable on demand at the reporting date. Federal Home Loan Bank Advances Fair value is estimated by discounting the future cash flows using rates of similar advances with similar maturities. These rates were obtained from current rates offered by the Federal Home Loan Bank. Commitments to Originate Loans, Letters of Credit and Lines of Credit The fair value of commitments to originate loans is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date. |
Note 6 - Recent Accounting Pron
Note 6 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 6: Recent Accounting Pronouncements The Company is an emerging growth company and as such will be subject to the effective dates noted for the private companies if they differ from the effective dates noted for public companies. FASB ASU 2014 09, In May 2014, 2014 09, March, 2016 2016 08, April 2016, 2016 10, May 2016, 2016 02 12, As an emerging growth company, these amendments are effective for annual reporting periods beginning after December 31, 2018, December 15, 2019. 2014 09. 2014 09, not FASB ASU 2016 01, In January 2016, 2016 01, 2016 01 December 15, 2018. Management does not 2016 01 FASB ASU 2016 02, In February 2016, 2016 02, Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no The amendments in ASU 2016 02 December 15, 2019, January 1, 2020. not may not F ASB ASU 2016 09, . In March 2016, 2016 09 two one For emerging growth companies, the amendments are effective for annual periods beginning after December 15, 2017 December 31, 2018. not 2016 09 not not FASB ASU 2016 13, In June 2016, 2016 13, No. 2016 13 No. 2016 13 December 15, 2019, No. 2016 13 may FASB ASU 201 8 - 13, Fair Value Measurement In August 2018, No. 2018 13, 820 820. 820 3 December 15, 2019, not |
Note 7 - Earnings Per Share
Note 7 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 7: Earnings Per Share Basic earnings per share (“EPS”) is calculated by dividing net income applicable to common stock by the weighted-average number of shares of common stock outstanding during the period. Unallocated common shares held by the Company’s Employee Stock Ownership Plan (the “ESOP”) are shown as a reduction in stockholders’ equity and are excluded from weighted-average common shares outstanding for basic and diluted EPS calculations until they are committed to be released. Calculations of earnings per share for the three nine September 30, 2018 2017 Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Weighted- Weighted- Net Average Per Share Net Average Per Share Income Shares Amount Income Shares Amount (In thousands) (In thousands) Net income $ 96 $ 483 Basic earnings per share 653,848 $ 0.15 653,848 $ 0.74 Effect of dilutive securities Stock options 9,900 10,733 Restricted stock awards 5,932 6,135 Diluted earnings per share 669,680 $ 0.14 670,717 $ 0.72 Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Weighted- Weighted- Net Average Per Share Net Average Per Share Income Shares Amount Income Shares Amount (In thousands) (In thousands) Net income $ 293 $ 773 Basic earnings per share 648,230 $ 0.45 647,617 $ 1.19 Effect of dilutive securities Restricted stock awards 1,880 627 Diluted earnings per share 650,110 $ 0.45 648,244 $ 1.19 |
Note 8 - Employee Stock Ownersh
Note 8 - Employee Stock Ownership Plan | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 8: Employee Stock Ownership Plan As part of the Company’s stock conversion, shares were purchased by the ESOP with a loan from New Bancorp. All employees of the Bank meeting certain tenure requirements are entitled to participate in the ESOP. Compensation expense related to the ESOP was $9,000 $36,000 three nine September 30, 2018, $10,000 $23,000 three nine September 30, 2017, The stock price at the formation date was $10.00. 47,235 $933,000 $19.75 September 30, 2018. |
Note 9 - Equity Incentive Plan
Note 9 - Equity Incentive Plan | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 9: Equity Incentive Plan In June 2017, 2017 “2017 No 97,524 may 2017 69,660 may 27,864 may may may may 2017 2017 Awards may 2017 On June 30, 2017, 22,931 60,080 five ten $14.09 10 Stock Options The table below represents the stock option activity for the nine September 30, 2018 2017: Remaining Weighted-average contractual Options exercise price life (years) Options outstanding at January 1, 2018 60,080 $ 14.09 9.5 Granted - - - Exercised - - - Forfeited (1,000) 14.09 - Expired - - - Options outstanding at September 30, 2018 59,080 $ 14.09 8.7 Options outstanding at January 1, 2017 - $ - - Granted 60,080 14.09 10.0 Exercised - - - Forfeited - - - Expired - - - Options outstanding at September 30, 2017 60,080 $ 14.09 9.8 As of September 30, 2018, $136,000 five 2017 $2.87 $9,000 $28,000 three nine September 30, 2018, $9,000 three nine September 30, 2017. Restricted Shares Restricted shares are accounted for as fixed grants using the fair value of the Company's stock at the time of the grant. Unvested restricted shares may not The table below presents the restricted stock award activity for the period shown: Weighted-average Restricted grant date stock awards fair value Nine Months Ended September 30, 2018 Non-vested at January 1, 2018 22,931 $ 14.09 Granted - - Vested 4,483 - Forfeited 500 - Nonvested at September 30, 2018 17,948 $ 14.09 Nine Months Ended September 30, 2017 Non-vested at January 1, 2017 - $ - Granted 22,931 14.09 Vested - - Forfeited - - Nonvested at September 30, 2017 22,931 $ 14.09 As of September 30, 2018, $243,000 five $16,000 $48,000 three nine September 30, 2018, $16,000 three nine September 30, 2017. |
Note 10 - Change in Corporate F
Note 10 - Change in Corporate Form | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Change in Corporate Form [Text Block] | Note 10: Change in Corporate Form On October 19, 2015, The Bank converted to the stock form of ownership, followed by the issuance of all of the Bank’s outstanding stock to New Bancorp, Inc. The Bank became the wholly owned subsidiary of the Company, and the Company issued and sold shares of its capital stock pursuant to an independent valuation appraisal of the Bank and the Company. The stock was priced at $10.00 8% October 19, 2015 696,600 $1.2 In accordance with OCC regulations, at the time of the Conversion, the Bank substantially restricted retained earnings by establishing a liquidation account. The liquidation account is maintained for the benefit of eligible holders who continue to maintain their accounts at the Bank after the Conversion. The liquidation account is reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not may not The conversion was accounted for as a change in corporate form with the historic basis of the Bank’s assets, liabilities and equity unchanged as a result. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements as of and for the periods ended September 30, 2018 December 31, 2017, October 19, 2015. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made to the condensed consolidated statements of income for the three nine September 30, 2017 September 30, 2018 no |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2018 2017 (Unaudited) (In thousands) Real estate loans Residential $ 35,793 $ 41,474 Commercial 49,445 45,623 Construction and land 9,371 10,746 Commercial business 898 909 Consumer and other 440 557 Total loans 95,947 99,309 Less: Net deferred loan fees, premiums and discounts (354 ) (176 ) Undisbursed loans in process (467 ) (498 ) Allowance for loan losses (1,076 ) (1,123 ) Net loans $ 94,050 $ 97,512 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | For the Three Months Ended September 30, 2018 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Allowance for loan losses: Balance, July 1, 2018 $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 Provision (credit) for loan losses - - - - - - Charge-offs - - - - - - Recoveries - - - - - - Balance, September 30, 2018 $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 For the Nine Months ended September 30, 2018 Allowance for loan losses: (In thousands) Balance, January 1, 2018 $ 540 $ 484 $ 76 $ 15 $ 8 $ 1,123 Provision (credit) for loan losses (100 ) 61 (7 ) 3 (7 ) (50 ) Charge-offs - - - - - - Recoveries - - - 3 - 3 Balance, September 30, 2018 $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 For the Three Months Ended September 30, 2017 Allowance for loan losses: (In thousands) Balance, July 1, 2017 $ 545 $ 442 $ 76 $ 15 $ 8 $ 1,086 Provision (credit) for loan losses - 39 - - - 39 Charge-offs - - - - - - Recoveries - 2 - - - 2 Balance, September 30, 2017 $ 545 $ 483 $ 76 $ 15 $ 8 $ 1,127 For the Nine Months Ended September 30, 2017 Allowance for loan losses: (In thousands) Balance, January 1, 2017 $ 656 $ 326 $ 72 $ 4 $ 5 $ 1,063 Provision (credit) for loan losses (99 ) 151 4 11 3 70 Charge-offs (12 ) (9 ) - - - (21 ) Recoveries - 15 - - - 15 Balance, September 30, 2017 $ 545 $ 483 $ 76 $ 15 $ 8 $ 1,127 At September 30, 2018 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Allowance for loan losses: Ending balance, individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, collectively evaluated for impairment $ 440 $ 545 $ 69 $ 21 $ 1 $ 1,076 Loans: Ending balance $ 35,793 $ 49,445 $ 9,371 $ 898 $ 440 $ 95,947 Ending balance; individually evaluated for impairment $ 1,600 $ 37 $ 2,490 $ - $ - $ 4,127 Ending balance; collectively evaluated for impairment $ 34,193 $ 49,408 $ 6,881 $ 898 $ 440 $ 91,820 December 31, 2017 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Allowance for loan losses: Ending balance, individually evaluated for impairment $ - $ - $ - $ - $ - $ - Ending balance, collectively evaluated for impairment $ 545 $ 480 $ 76 $ 15 $ 7 $ 1,123 Loans: Ending balance $ 41,474 $ 45,623 $ 10,746 $ 909 $ 557 $ 99,309 Ending balance; individually evaluated for impairment $ 2,294 $ 33 $ 2,312 $ - $ - $ 4,639 Ending balance; collectively evaluated for impairment $ 39,180 $ 45,590 $ 8,434 $ 909 $ 557 $ 94,670 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2018 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Pass $ 34,149 $ 47,935 $ 8,250 $ 898 $ 440 $ 91,672 Special mention/Watch 291 984 - - - 1,275 Substandard 1,353 526 1,121 - - 3,000 Doubtful - - - - - - Total $ 35,793 $ 49,445 $ 9,371 $ 898 $ 440 $ 95,947 December 31, 2017 Real Estate Construction Commercial Residential Commercial and Land Business Consumer Total (In thousands) Pass $ 39,639 $ 45,136 $ 9,839 $ 876 $ 557 $ 96,047 Special mention/Watch 48 - - - - 48 Substandard 1,787 487 907 33 - 3,214 Doubtful - - - - - - Total $ 41,474 $ 45,623 $ 10,746 $ 909 $ 557 $ 99,309 |
Past Due Financing Receivables [Table Text Block] | September 30, 2018 (Unaudited) Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate Residential $ 363 $ - $ - $ 363 $ 35,430 $ 35,793 $ - Commercial - - - - 49,445 49,445 - Construction and land - - - - 9,371 9,371 - Commercial business - - - - 898 898 - Consumer - - - - 440 440 - Total $ 363 $ - $ - $ 363 $ 95,584 $ 95,947 $ - December 31, 2017 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate Residential $ 73 $ 196 $ - $ 269 $ 41,205 $ 41,474 $ - Commercial - - - - 45,623 45,623 - Construction and land - - - - 10,746 10,746 - Commercial business - - - - 909 909 - Consumer - - - - 557 557 Total $ 73 $ 196 $ - $ 269 $ 99,040 $ 99,309 $ - |
Impaired Financing Receivables [Table Text Block] | As of For the Three Months Ended September 30, 2018 September 30, 2018 September 30, 2017 Unpaid Average Balance of Interest Average Balance of Interest Recorded Balance Principal Balance Specific Allowance Impaired Income Recognized Impaired Income Recognized (Unaudited) (In thousands) Loans without a specific valuation allowance: Real estate Residential $ 1,600 $ 1,677 $ - $ 1,791 $ 7 $ 1,122 $ 16 Commercial 37 37 - 38 1 34 1 Construction and land 2,490 2,542 - 2,454 22 1,630 23 Commercial business - - - - - - - Consumer - - - - - - - Loans with a specific valuation allowance: Real estate Residential - - - - - - - Commercial - - - - - - - Construction and land - - - - - - - Commercial business - - - - - - - Consumer - - - - - - - Totals $ 4,127 $ 4,256 $ - $ 4,283 $ 30 $ 2,786 $ 40 For the Nine Months Ended September 30, 2018 September 30, 2017 Average Balance of Impaired Interest Income Recognized Average Balance of Impaired Interest Income Recognized (In thousands) Loans without a specific valuation allowance: Real estate Residential $ 1,988 $ 24 $ 2,134 $ 53 Commercial 37 2 149 1 Construction and land 2,427 63 1,672 70 Commercial business - - - - Consumer - - - - Loans with a specific valuation allowance: Real estate Residential - - - - Commercial - - - - Construction and land - - - - Commercial business - - - - Consumer - - - - Totals $ 4,452 $ 89 $ 3,955 $ 124 As of and for the year ended December 31, 2017 Unpaid Average Balance of Interest Recorded Balance Principal Balance Specific Allowance Impaired Income Recognized (In thousands) Loans without a specific valuation allowance: Real estate Residential $ 2,294 $ 2,439 $ - $ 2,166 $ 73 Commercial 33 33 - 35 2 Construction and land 2,312 2,323 - 1,799 90 Commercial business - - - - - Consumer - - - - - Loans with a specific valuation allowance: Real estate Residential - - - - - Commercial - - - - - Construction and land - - - - - Commercial business - - - - - Consumer - - - - - Totals $ 4,639 $ 4,795 $ - $ 4,000 $ 165 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | September 30, December 31, 2018 2017 (In thousands) Real estate loans Residential $ 1,119 $ 1,629 Commercial - - Construction and land 950 728 Commercial business - - Consumer and other - - Total nonaccrual $ 2,069 $ 2,357 |
Note 4 - Regulatory Matters (Ta
Note 4 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of September 30, 2018 Total Capital (to Risk-Weighted Assets) $ 15,892 17.1 % $ 7,446 8.0 % $ 9,307 10.0 % Tier 1 Capital (to Risk-Weighted Assets) $ 14,816 15.9 % $ 5,584 6.0 % $ 7,446 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 14,816 15.9 % $ 4,188 4.5 % $ 6,050 6.5 % Tier I Leverage Capital (to Average Total Assets) $ 14,816 12.2 % $ 4,859 4.0 % $ 6,074 5.0 % As of December 31, 2017 Total Capital (to Risk-Weighted Assets) $ 15,094 16.3 % $ 7,694 8.0 % $ 9,243 10.0 % Tier I Capital (to Risk-Weighted Assets) $ 13,971 15.1 % $ 5,546 6.0 % $ 7,394 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 13,971 15.1 % $ 4,159 4.5 % $ 6,008 6.5 % Tier I Capital (to Total Assets) $ 13,971 11.3 % $ 4,933 4.0 % $ 6,116 5.0 % |
Note 5 - Disclosures About Fa_2
Note 5 - Disclosures About Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurement Using Carrying Value Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) September 30, 2018 Financial assets Cash and due from banks $ 1,595 $ 1,595 $ 1,595 $ - $ - Interest-earning demand deposits 2,058 2,058 2,058 - - Federal funds sold 10,124 10,124 10,124 - - Loans, net 94,050 92,947 - - 92,947 Federal Home Loan Bank stock 468 468 - 468 - Accrued interest receivable 269 269 - 269 - Servicing rights 1,223 1,223 - - 1,223 Financial liabilities Deposits 91,588 91,159 56,540 34,619 - Advances from the Federal Home Loan Bank 9,027 8,953 - 8,953 - Accrued interest payable 15 15 - 15 - December 31, 2017 Financial assets Cash and due from banks $ 1,085 $ 1,085 $ 1,085 $ - $ - Interest-earning demand deposits 2,997 2,997 2,997 - - Federal funds sold 11,711 11,711 11,711 - - Interest-earning time deposits in banks 744 744 - 744 - Loans and loans held for sale, net 100,746 100,273 - - 100,273 Federal Home Loan Bank stock 468 468 - 468 - Accrued interest receivable 267 267 - 267 - Servicing rights 937 937 - - 937 Financial liabilities Deposits 101,688 101,603 61,767 39,836 - Advances from the Federal Home Loan Bank 9,027 9,024 - 9,024 - Accrued interest payable 30 30 - 30 - |
Note 7 - Earnings Per Share (Ta
Note 7 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Weighted- Weighted- Net Average Per Share Net Average Per Share Income Shares Amount Income Shares Amount (In thousands) (In thousands) Net income $ 96 $ 483 Basic earnings per share 653,848 $ 0.15 653,848 $ 0.74 Effect of dilutive securities Stock options 9,900 10,733 Restricted stock awards 5,932 6,135 Diluted earnings per share 669,680 $ 0.14 670,717 $ 0.72 Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Weighted- Weighted- Net Average Per Share Net Average Per Share Income Shares Amount Income Shares Amount (In thousands) (In thousands) Net income $ 293 $ 773 Basic earnings per share 648,230 $ 0.45 647,617 $ 1.19 Effect of dilutive securities Restricted stock awards 1,880 627 Diluted earnings per share 650,110 $ 0.45 648,244 $ 1.19 |
Note 9 - Equity Incentive Plan
Note 9 - Equity Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Remaining Weighted-average contractual Options exercise price life (years) Options outstanding at January 1, 2018 60,080 $ 14.09 9.5 Granted - - - Exercised - - - Forfeited (1,000) 14.09 - Expired - - - Options outstanding at September 30, 2018 59,080 $ 14.09 8.7 Options outstanding at January 1, 2017 - $ - - Granted 60,080 14.09 10.0 Exercised - - - Forfeited - - - Expired - - - Options outstanding at September 30, 2017 60,080 $ 14.09 9.8 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Weighted-average Restricted grant date stock awards fair value Nine Months Ended September 30, 2018 Non-vested at January 1, 2018 22,931 $ 14.09 Granted - - Vested 4,483 - Forfeited 500 - Nonvested at September 30, 2018 17,948 $ 14.09 Nine Months Ended September 30, 2017 Non-vested at January 1, 2017 - $ - Granted 22,931 14.09 Vested - - Forfeited - - Nonvested at September 30, 2017 22,931 $ 14.09 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Available-for-sale Securities, Total | $ 0 | $ 0 | |
Proceeds from Sale of Available-for-sale Securities, Total | $ 0 | $ 0 |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017 | Sep. 30, 2018USD ($) | Sep. 30, 2017 | Dec. 31, 2017USD ($) | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |||
Foreclosed Real Estate Held for Sale | $ 0 | $ 0 | $ 0 | ||
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | |||||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 4,900 | $ 4,900 | $ 4,800 |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Loan Losses - Classes of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Real estate loans | ||||||
Loans | $ 95,947 | $ 99,309 | ||||
Net deferred loan fees, premiums and discounts | (354) | (176) | ||||
Undisbursed loans in process | (467) | (498) | ||||
Allowance for loan losses | (1,076) | $ (1,076) | (1,123) | $ (1,127) | $ (1,086) | $ (1,063) |
Net loans | 94,050 | 97,512 | ||||
Residential Portfolio Segment [Member] | ||||||
Real estate loans | ||||||
Loans | 35,793 | 41,474 | ||||
Allowance for loan losses | (440) | (440) | (540) | (545) | (545) | (656) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Real estate loans | ||||||
Loans | 49,445 | 45,623 | ||||
Allowance for loan losses | (545) | (545) | (484) | (483) | (442) | (326) |
Construction and Land Real Estate [Member] | ||||||
Real estate loans | ||||||
Loans | 9,371 | 10,746 | ||||
Allowance for loan losses | (69) | (69) | (76) | (76) | (76) | (72) |
Commercial Portfolio Segment [Member] | ||||||
Real estate loans | ||||||
Loans | 898 | 909 | ||||
Allowance for loan losses | (21) | (21) | (15) | (15) | (15) | (4) |
Consumer Portfolio Segment [Member] | ||||||
Real estate loans | ||||||
Loans | 440 | 557 | ||||
Allowance for loan losses | $ (1) | $ (1) | $ (8) | $ (8) | $ (8) | $ (5) |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses and Recorded Investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Balance | $ 1,076 | $ 1,086 | $ 1,123 | $ 1,063 | |
Provision (credit) for loan losses | 39 | (50) | 70 | ||
Charge-offs | (21) | ||||
Recoveries | 2 | 3 | 15 | ||
Balance | 1,076 | 1,127 | 1,076 | 1,127 | |
Ending balance, individually evaluated for impairment | |||||
Ending balance, collectively evaluated for impairment | 1,076 | 1,076 | 1,123 | ||
Ending balance | 95,947 | 95,947 | 99,309 | ||
Ending balance; individually evaluated for impairment | 4,127 | 4,127 | 4,639 | ||
Ending balance; collectively evaluated for impairment | 91,820 | 91,820 | 94,670 | ||
Residential Portfolio Segment [Member] | |||||
Balance | 440 | 545 | 540 | 656 | |
Provision (credit) for loan losses | (100) | (99) | |||
Charge-offs | (12) | ||||
Recoveries | |||||
Balance | 440 | 545 | 440 | 545 | |
Ending balance, individually evaluated for impairment | |||||
Ending balance, collectively evaluated for impairment | 440 | 440 | 545 | ||
Ending balance | 35,793 | 35,793 | 41,474 | ||
Ending balance; individually evaluated for impairment | 1,600 | 1,600 | 2,294 | ||
Ending balance; collectively evaluated for impairment | 34,193 | 34,193 | 39,180 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 545 | 442 | 484 | 326 | |
Provision (credit) for loan losses | 39 | 61 | 151 | ||
Charge-offs | (9) | ||||
Recoveries | 2 | 15 | |||
Balance | 545 | 483 | 545 | 483 | |
Ending balance, individually evaluated for impairment | |||||
Ending balance, collectively evaluated for impairment | 545 | 545 | 480 | ||
Ending balance | 49,445 | 49,445 | 45,623 | ||
Ending balance; individually evaluated for impairment | 37 | 37 | 33 | ||
Ending balance; collectively evaluated for impairment | 49,408 | 49,408 | 45,590 | ||
Construction and Land Real Estate [Member] | |||||
Balance | 69 | 76 | 76 | 72 | |
Provision (credit) for loan losses | (7) | 4 | |||
Charge-offs | |||||
Recoveries | |||||
Balance | 69 | 76 | 69 | 76 | |
Ending balance, individually evaluated for impairment | |||||
Ending balance, collectively evaluated for impairment | 69 | 69 | 76 | ||
Ending balance | 9,371 | 9,371 | 10,746 | ||
Ending balance; individually evaluated for impairment | 2,490 | 2,490 | 2,312 | ||
Ending balance; collectively evaluated for impairment | 6,881 | 6,881 | 8,434 | ||
Commercial Portfolio Segment [Member] | |||||
Balance | 21 | 15 | 15 | 4 | |
Provision (credit) for loan losses | 3 | 11 | |||
Charge-offs | |||||
Recoveries | 3 | ||||
Balance | 21 | 15 | 21 | 15 | |
Ending balance, individually evaluated for impairment | |||||
Ending balance, collectively evaluated for impairment | 21 | 21 | 15 | ||
Ending balance | 898 | 898 | 909 | ||
Ending balance; individually evaluated for impairment | |||||
Ending balance; collectively evaluated for impairment | 898 | 898 | 909 | ||
Consumer Portfolio Segment [Member] | |||||
Balance | 1 | 8 | 8 | 5 | |
Provision (credit) for loan losses | (7) | 3 | |||
Charge-offs | |||||
Recoveries | |||||
Balance | 1 | $ 8 | 1 | $ 8 | |
Ending balance, individually evaluated for impairment | |||||
Ending balance, collectively evaluated for impairment | 1 | 1 | 7 | ||
Ending balance | 440 | 440 | 557 | ||
Ending balance; individually evaluated for impairment | |||||
Ending balance; collectively evaluated for impairment | $ 440 | $ 440 | $ 557 |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Loan Losses - Credit Risk Profile Based on Internal Rating Category (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans | $ 95,947 | $ 99,309 |
Residential Portfolio Segment [Member] | ||
Loans | 35,793 | 41,474 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 49,445 | 45,623 |
Construction and Land Real Estate [Member] | ||
Loans | 9,371 | 10,746 |
Commercial Portfolio Segment [Member] | ||
Loans | 898 | 909 |
Consumer Portfolio Segment [Member] | ||
Loans | 440 | 557 |
Pass [Member] | ||
Loans | 91,672 | 96,047 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans | 34,149 | 39,639 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 47,935 | 45,136 |
Pass [Member] | Construction and Land Real Estate [Member] | ||
Loans | 8,250 | 9,839 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 898 | 876 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 440 | 557 |
Special Mention [Member] | ||
Loans | 1,275 | 48 |
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans | 291 | 48 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 984 | |
Special Mention [Member] | Construction and Land Real Estate [Member] | ||
Loans | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Substandard [Member] | ||
Loans | 3,000 | 3,214 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans | 1,353 | 1,787 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 526 | 487 |
Substandard [Member] | Construction and Land Real Estate [Member] | ||
Loans | 1,121 | 907 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 33 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | ||
Loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Construction and Land Real Estate [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Loan Losses - Aging Analysis of the Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Loans past due | $ 363 | $ 269 |
Current | 95,584 | 99,040 |
Loans | 95,947 | 99,309 |
90 days past due and still accruing | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 363 | 73 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 196 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Residential Portfolio Segment [Member] | ||
Loans past due | 363 | 269 |
Current | 35,430 | 41,205 |
Loans | 35,793 | 41,474 |
90 days past due and still accruing | ||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 363 | 73 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 196 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Loans past due | ||
Current | 49,445 | 45,623 |
Loans | 49,445 | 45,623 |
90 days past due and still accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Construction and Land Real Estate [Member] | ||
Loans past due | ||
Current | 9,371 | 10,746 |
Loans | 9,371 | 10,746 |
90 days past due and still accruing | ||
Construction and Land Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | ||
Construction and Land Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | ||
Construction and Land Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Commercial Portfolio Segment [Member] | ||
Loans past due | ||
Current | 898 | 909 |
Loans | 898 | 909 |
90 days past due and still accruing | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Consumer Portfolio Segment [Member] | ||
Loans past due | ||
Current | 440 | 557 |
Loans | 440 | 557 |
90 days past due and still accruing | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Specific allowance | $ 3,955 | $ 3,955 | |||
Recorded balance | 4,127 | 4,127 | 4,639 | ||
Unpaid principal balance | 4,256 | 124 | 4,256 | 124 | 4,795 |
Average balance of impaired loans | 4,283 | 2,786 | 4,452 | 4,000 | |
Interest income recognized | 30 | 40 | 89 | 165 | |
Residential Portfolio Segment [Member] | |||||
Recorded balance, with no valuation allowance | 1,600 | 1,600 | 2,294 | ||
Unpaid principal balance, with no valuation allowance | 1,677 | 1,677 | 2,439 | ||
Average balance of impaired loans, with no valuation allowance | 1,791 | 1,122 | 1,988 | 2,134 | 2,166 |
Interest income recognized, with no valuation allowance | 7 | 16 | 24 | 53 | 73 |
Recorded balance, with a valuation allowance | |||||
Unpaid principal balance, with a valuation allowance | |||||
Specific allowance | |||||
Average balance of impaired loans, with a valuation allowance | |||||
Interest income recognized, with a valuation allowance | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Recorded balance, with no valuation allowance | 37 | 37 | 33 | ||
Unpaid principal balance, with no valuation allowance | 37 | 37 | 33 | ||
Average balance of impaired loans, with no valuation allowance | 38 | 34 | 37 | 149 | 35 |
Interest income recognized, with no valuation allowance | 1 | 1 | 2 | 1 | 2 |
Recorded balance, with a valuation allowance | |||||
Unpaid principal balance, with a valuation allowance | |||||
Specific allowance | |||||
Average balance of impaired loans, with a valuation allowance | |||||
Interest income recognized, with a valuation allowance | |||||
Construction and Land Real Estate [Member] | |||||
Recorded balance, with no valuation allowance | 2,490 | 2,490 | 2,312 | ||
Unpaid principal balance, with no valuation allowance | 2,542 | 2,542 | 2,323 | ||
Average balance of impaired loans, with no valuation allowance | 2,454 | 1,630 | 2,427 | 1,672 | 1,799 |
Interest income recognized, with no valuation allowance | 22 | 23 | 63 | 70 | 90 |
Recorded balance, with a valuation allowance | |||||
Unpaid principal balance, with a valuation allowance | |||||
Specific allowance | |||||
Average balance of impaired loans, with a valuation allowance | |||||
Interest income recognized, with a valuation allowance | |||||
Commercial Portfolio Segment [Member] | |||||
Recorded balance, with no valuation allowance | |||||
Unpaid principal balance, with no valuation allowance | |||||
Average balance of impaired loans, with no valuation allowance | |||||
Interest income recognized, with no valuation allowance | |||||
Recorded balance, with a valuation allowance | |||||
Unpaid principal balance, with a valuation allowance | |||||
Specific allowance | |||||
Average balance of impaired loans, with a valuation allowance | |||||
Interest income recognized, with a valuation allowance | |||||
Consumer Portfolio Segment [Member] | |||||
Recorded balance, with no valuation allowance | |||||
Unpaid principal balance, with no valuation allowance | |||||
Average balance of impaired loans, with no valuation allowance | |||||
Interest income recognized, with no valuation allowance | |||||
Recorded balance, with a valuation allowance | |||||
Unpaid principal balance, with a valuation allowance | |||||
Specific allowance | |||||
Average balance of impaired loans, with a valuation allowance | |||||
Interest income recognized, with a valuation allowance |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Loan Losses - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Nonaccrual loans | $ 2,069 | $ 2,357 |
Residential Portfolio Segment [Member] | ||
Nonaccrual loans | 1,119 | 1,629 |
Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual loans | ||
Construction and Land Real Estate [Member] | ||
Nonaccrual loans | 950 | 728 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual loans | ||
Consumer Portfolio Segment [Member] | ||
Nonaccrual loans |
Note 4 - Regulatory Matters (De
Note 4 - Regulatory Matters (Details Textual) | Jan. 01, 2019 | Dec. 31, 2015 |
Capital Conservation Buffer | 0.00% | |
Scenario, Forecast [Member] | ||
Capital Conservation Buffer | 2.50% |
Note 4 - Regulatory Matters - A
Note 4 - Regulatory Matters - Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Capital | $ 15,892 | $ 15,094 |
Capital to Risk Weighted Assets | 17.10% | 16.30% |
Capital Required for Capital Adequacy | $ 7,446 | $ 7,694 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | $ 9,307 | $ 9,243 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier I Capital | $ 14,816 | $ 13,971 |
Tier 1 Capital to Risk Weighted Assets | 15.90% | 15.10% |
Tier 1 Risk Based Capital Required for Capital Adequacy | $ 5,584 | $ 5,546 |
Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% |
Tier 1 Risk Based Capital Required to be Well Capitalized | $ 7,446 | $ 7,394 |
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% |
Common Equity Tier I Capital | $ 14,816 | $ 13,971 |
Common Equity Tier 1 Risk Based Capital to Risk Weighted Assets | 15.90% | 15.10% |
Common Equity Tier 1 Risk Based Capital Required for Capital Adequacy | $ 4,188 | $ 4,159 |
Common Equity Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% |
Common Equity Tier 1 Risk Based Capital Required to be Well Capitalized | $ 6,050 | $ 6,008 |
Common Equity Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier 1 Leverage Capital | $ 14,816 | $ 13,971 |
Tier 1 Leverage Capital to Average Assets | 12.20% | 11.30% |
Tier 1 Leverage Capital Required for Capital Adequacy | $ 4,859 | $ 4,933 |
Tier 1 Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier 1 Leverage Capital Required to be Well Capitalized | $ 6,074 | $ 6,116 |
Tier I Leverage Capital Required to be Well Capitalized to Risk Weighted Assets | 5.00% | 5.00% |
Note 5 - Disclosures About Fa_3
Note 5 - Disclosures About Fair Value of Assets and Liabilities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Note 5 - Disclosures About Fa_4
Note 5 - Disclosures About Fair Value of Assets and Liabilities - Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Cash and due from banks | $ 1,595 | $ 1,085 |
Interest-earning demand deposits | 2,058 | 2,997 |
Federal funds sold | 10,124 | 11,711 |
Loans, net | 94,050 | 100,746 |
Federal Home Loan Bank stock | 468 | 468 |
Accrued interest receivable | 269 | 267 |
Servicing rights | 1,223 | 937 |
Interest-earning time deposits in banks | 744 | |
Financial liabilities | ||
Deposits | 91,588 | 101,688 |
Advances from the Federal Home Loan Bank | 9,027 | 9,027 |
Accrued interest payable | 15 | 30 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets | ||
Cash and due from banks | 1,595 | 1,085 |
Interest-earning demand deposits | 2,058 | 2,997 |
Federal funds sold | 10,124 | 11,711 |
Loans, net | 92,947 | 100,273 |
Federal Home Loan Bank stock | 468 | 468 |
Accrued interest receivable | 269 | 267 |
Servicing rights | 1,223 | 937 |
Interest-earning time deposits in banks | 744 | |
Financial liabilities | ||
Deposits | 91,159 | 101,603 |
Advances from the Federal Home Loan Bank | 8,953 | 9,024 |
Accrued interest payable | 15 | 30 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and due from banks | 1,595 | 1,085 |
Interest-earning demand deposits | 2,058 | 2,997 |
Federal funds sold | 10,124 | 11,711 |
Loans, net | ||
Federal Home Loan Bank stock | ||
Accrued interest receivable | ||
Servicing rights | ||
Interest-earning time deposits in banks | ||
Financial liabilities | ||
Deposits | 56,540 | 61,767 |
Advances from the Federal Home Loan Bank | ||
Accrued interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Cash and due from banks | ||
Interest-earning demand deposits | ||
Federal funds sold | ||
Loans, net | ||
Federal Home Loan Bank stock | 468 | 468 |
Accrued interest receivable | 269 | 267 |
Servicing rights | ||
Interest-earning time deposits in banks | 744 | |
Financial liabilities | ||
Deposits | 34,619 | 39,836 |
Advances from the Federal Home Loan Bank | 8,953 | 9,024 |
Accrued interest payable | 15 | 30 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Cash and due from banks | ||
Interest-earning demand deposits | ||
Federal funds sold | ||
Loans, net | 92,947 | 100,273 |
Federal Home Loan Bank stock | ||
Accrued interest receivable | ||
Servicing rights | 1,223 | 937 |
Interest-earning time deposits in banks | ||
Financial liabilities | ||
Deposits | ||
Advances from the Federal Home Loan Bank | ||
Accrued interest payable |
Note 7 - Earnings Per Share - C
Note 7 - Earnings Per Share - Calculations of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net income | $ 96 | $ 293 | $ 483 | $ 773 |
Basic earnings per share, weighted average shares (in shares) | 653,848 | 648,230 | 653,848 | 647,617 |
Basic earnings per share (in dollars per share) | $ 0.15 | $ 0.45 | $ 0.74 | $ 1.19 |
Diluted earnings per share, weighted average shares (in shares) | 669,679 | 650,110 | 670,716 | 648,244 |
Diluted earnings per share (in dollars per share) | $ 0.14 | $ 0.45 | $ 0.72 | $ 1.19 |
Employee Stock Option [Member] | ||||
Dilutive securities (in shares) | 9,900 | 10,733 | ||
Restricted Stock [Member] | ||||
Dilutive securities (in shares) | 5,932 | 1,880 | 6,135 | 627 |
Note 8 - Employee Stock Owner_2
Note 8 - Employee Stock Ownership Plan (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 9,000 | $ 10,000 | $ 36,000 | $ 23,000 |
Share Price at Formation Date | $ 10 | $ 10 | ||
Shares Held in Employee Stock Option Plan, Committed-to-be-Released | 47,235 | 47,235 | ||
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value | $ 933,000 | $ 933,000 | ||
Share Price | $ 19.75 | $ 19.75 |
Note 9 - Equity Incentive Pla_2
Note 9 - Equity Incentive Plan (Details Textual) - The 2017 Equity Incentive Plan [Member] - USD ($) | Jun. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 97,524 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 60,080 | |||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 14.09 | $ 14.09 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 136,000 | $ 136,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 2.87 | |||||
Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 69,660 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 60,080 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years | |||||
Allocated Share-based Compensation Expense, Total | 9,000 | $ 9,000 | $ 28,000 | $ 9,000 | ||
Restricted Stock Awards, Restricted Stock Units and Unrestricted Share Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 27,864 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 22,931 | 22,931 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years | |||||
Allocated Share-based Compensation Expense, Total | 16,000 | $ 16,000 | $ 48,000 | $ 16,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 243,000 | $ 243,000 |
Note 9 - Equity Incentive Pla_3
Note 9 - Equity Incentive Plan - Stock Option Activity (Details) - The 2017 Equity Incentive Plan [Member] - $ / shares | Jun. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Options outstanding, Balance (in shares) | 60,080 | ||||
Options outstanding, Weighted average exercise price (in dollars per share) | $ 14.09 | $ 14.09 | $ 14.09 | ||
Remaining contractual life of options, Outstanding (Year) | 8 years 255 days | 9 years 292 days | 9 years 182 days | ||
Granted, Options (in shares) | 60,080 | ||||
Granted, Weighted average exercise price (in dollars per share) | $ 14.09 | $ 14.09 | |||
Exercised, Options (in shares) | |||||
Exercised, Weighted average exercise price (in dollars per share) | |||||
Forfeited, Options (in shares) | (1,000) | ||||
Forfeited, Weighted average exercise price (in dollars per share) | $ 14.09 | ||||
Expired, Options (in shares) | |||||
Expired, Weighted average exercise price (in dollars per share) | |||||
Options outstanding, Balance (in shares) | 59,080 | 60,080 | 60,080 | ||
Remaining contractual life of options, Granted (Year) | 10 years |
Note 9 - Equity Incentive Pla_4
Note 9 - Equity Incentive Plan - Restricted Stock Activity (Details) - The 2017 Equity Incentive Plan [Member] - Restricted Stock [Member] - $ / shares | Jun. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Non-vested, Service-based restricted stock awards (in shares) | 22,931 | ||||
Non-vested, Weighted average grant date fair value (in dollars per share) | $ 14.09 | $ 14.09 | $ 14.09 | ||
Granted, Service-based restricted stock awards (in shares) | 22,931 | 22,931 | |||
Granted, Weighted average grant date fair value (in dollars per share) | $ 14.09 | ||||
Vested, Service-based restricted stock awards (in shares) | 4,483 | ||||
Vested, Weighted average grant date fair value (in dollars per share) | |||||
Forfeited, Service-based restricted stock awards (in shares) | 500 | ||||
Forfeited, Weighted average grant date fair value (in dollars per share) | |||||
Nonvested, Service-based restricted stock awards (in shares) | 17,948 | 22,931 |
Note 10 - Change in Corporate_2
Note 10 - Change in Corporate Form (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 | Oct. 19, 2015 |
Sale of Stock, Price Per Share | $ 10 | ||
Common Stock, Subscriptions, Percentage | 8.00% | ||
Common Stock, Shares, Issued, Total | 696,600 | ||
Costs of Conversion and to Issue Stock | $ 1.2 |