Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 02, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000741516 | |
Entity Registrant Name | AMERICAN NATIONAL BANKSHARES INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-12820 | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 54-1284688 | |
Entity Address, Address Line One | 628 Main Street | |
Entity Address, City or Town | Danville | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 24541 | |
City Area Code | 434 | |
Local Phone Number | 792-5111 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | AMNB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 10,705,799 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | [1] |
Assets | |||
Cash and due from banks | $ 34,506 | $ 23,095 | |
Interest-bearing deposits in other banks | 452,562 | 487,773 | |
Securities available for sale, at fair value | 686,176 | 692,467 | |
Restricted stock, at cost | 8,484 | 8,056 | |
Loans held for sale | 2,524 | 8,481 | |
Loans, net of deferred fees and costs | 1,988,008 | 1,946,580 | |
Less allowance for loan losses | (17,988) | (18,678) | |
Net loans | 1,970,020 | 1,927,902 | |
Premises and equipment, net | 35,383 | 35,564 | |
Other real estate owned, net of valuation allowance | 143 | 143 | |
Goodwill | 85,048 | 85,048 | |
Core deposit intangibles, net | 4,297 | 4,627 | |
Bank owned life insurance | 29,159 | 29,107 | |
Other assets | 37,936 | 32,334 | |
Total assets | 3,346,238 | 3,334,597 | |
Liabilities | |||
Noninterest-bearing deposits | 1,024,778 | 1,009,081 | |
Interest-bearing deposits | 1,901,429 | 1,881,272 | |
Total deposits | 2,926,207 | 2,890,353 | |
Customer repurchase agreements | 38,527 | 41,128 | |
Long-term borrowings | 28,257 | 28,232 | |
Other liabilities | 18,173 | 20,092 | |
Total liabilities | 3,011,164 | 2,979,805 | |
Shareholders' equity | |||
Preferred stock, $5 par value, 2,000,000 shares authorized, none outstanding | 0 | 0 | |
Common stock, $1 par value, 20,000,000 shares authorized, 10,713,958 shares outstanding at March 31, 2022 and 10,766,967 shares outstanding at December 31, 2021 | 10,638 | 10,710 | |
Capital in excess of par value | 144,848 | 147,777 | |
Retained earnings | 207,373 | 201,380 | |
Accumulated other comprehensive loss, net | (27,785) | (5,075) | |
Total shareholders' equity | 335,074 | 354,792 | |
Total liabilities and shareholders' equity | $ 3,346,238 | $ 3,334,597 | |
[1] | Derived from audited consolidated financial statements |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 | [1] |
Preferred stock, par value (in dollars per share) | $ 5 | $ 5 | |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 | |
Common stock, par value (in dollars per share) | $ 1 | $ 1 | |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 | |
Common stock, shares outstanding (in shares) | 10,713,958 | 10,766,967 | |
[1] | Derived from audited consolidated financial statements |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Interest and Dividend Income: | ||
Interest and fees on loans | $ 18,788 | $ 22,273 |
Interest and dividends on securities: | ||
Taxable | 2,239 | 1,632 |
Tax-exempt | 90 | 103 |
Dividends | 113 | 119 |
Other interest income | 177 | 77 |
Total interest and dividend income | 21,407 | 24,204 |
Interest Expense: | ||
Interest on deposits | 569 | 1,287 |
Interest on short-term borrowings | 6 | 11 |
Interest on long-term borrowings | 379 | 483 |
Total interest expense | 954 | 1,781 |
Net Interest Income | 20,453 | 22,423 |
(Recovery of) provision for loan losses | (758) | 0 |
Net Interest Income After Recovery of Loan Losses | 21,211 | 22,423 |
Noninterest Income: | ||
Income from Small Business Investment Companies | 493 | 428 |
Income from insurance investments | 447 | 788 |
Gains (losses) on premises and equipment, net | 4 | (49) |
Other | 238 | 252 |
Total noninterest income | 5,600 | 5,922 |
Noninterest Expense: | ||
Salaries and employee benefits | 8,598 | 7,518 |
Occupancy and equipment | 1,542 | 1,533 |
FDIC assessment | 239 | 224 |
Bank franchise tax | 476 | 438 |
Core deposit intangible amortization | 330 | 381 |
Data processing | 847 | 778 |
Software | 363 | 329 |
Other real estate owned, net | (1) | 117 |
Other | 2,955 | 2,747 |
Total noninterest expense | 15,349 | 14,065 |
Income Before Income Taxes | 11,462 | 14,280 |
Income Taxes | 2,463 | 2,991 |
Net Income | $ 8,999 | $ 11,289 |
Net Income Per Common Share: | ||
Basic (in dollars per share) | $ 0.84 | $ 1.03 |
Diluted (in dollars per share) | $ 0.84 | $ 1.03 |
Weighted Average Common Shares Outstanding: | ||
Basic (in shares) | 10,754,287 | 10,971,466 |
Diluted (in shares) | 10,756,902 | 10,976,177 |
Asset Management [Member] | ||
Noninterest Income: | ||
Noninterest Income | $ 1,809 | $ 1,424 |
Deposit Account [Member] | ||
Noninterest Income: | ||
Noninterest Income | 689 | 622 |
Interchange Service [Member] | ||
Noninterest Income: | ||
Noninterest Income | 981 | 889 |
Financial Service, Other [Member] | ||
Noninterest Income: | ||
Noninterest Income | 266 | 250 |
Mortgage Banking [Member] | ||
Noninterest Income: | ||
Noninterest Income | $ 673 | $ 1,318 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Net income | $ 8,999 | $ 11,289 |
Other comprehensive loss: | ||
Unrealized losses on securities available for sale | (30,861) | (5,882) |
Tax effect | 6,662 | 1,271 |
Unrealized gains on cash flow hedges | 1,885 | 1,781 |
Tax effect | (396) | (374) |
Other comprehensive loss | (22,710) | (3,204) |
Comprehensive (loss) income | $ (13,711) | $ 8,085 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance at Dec. 31, 2020 | $ 10,926 | $ 154,850 | $ 169,681 | $ 2,437 | $ 337,894 | |
Net income | 0 | 0 | 11,289 | 0 | 11,289 | |
Other comprehensive income (loss) | 0 | 0 | 0 | (3,204) | (3,204) | |
Stock repurchased | (54) | (1,540) | 0 | 0 | (1,594) | |
Vesting of restricted stock | 15 | (15) | 0 | 0 | 0 | |
Equity based compensation | 7 | 356 | 0 | 0 | 363 | |
Cash dividends paid | 0 | 0 | (2,955) | 0 | (2,955) | |
Balance at Mar. 31, 2021 | 10,894 | 153,651 | 178,015 | (767) | 341,793 | |
Balance at Dec. 31, 2021 | 10,710 | 147,777 | 201,380 | (5,075) | 354,792 | [1] |
Net income | 0 | 0 | 8,999 | 0 | 8,999 | |
Other comprehensive income (loss) | 0 | 0 | 0 | (22,710) | (22,710) | |
Stock repurchased | (89) | (3,306) | 0 | 0 | (3,395) | |
Vesting of restricted stock | 12 | (12) | 0 | 0 | 0 | |
Equity based compensation | 4 | 378 | 0 | 0 | 382 | |
Cash dividends paid | 0 | 0 | (3,006) | 0 | (3,006) | |
Stock options exercised | 1 | 11 | 0 | 0 | 12 | |
Balance at Mar. 31, 2022 | $ 10,638 | $ 144,848 | $ 207,373 | $ (27,785) | $ 335,074 | |
[1] | Derived from audited consolidated financial statements |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Stock repurchased, shares (in shares) | 88,929 | 54,023 |
Vesting of restricted stock, shares (in shares) | 11,912 | 15,315 |
Equity based compensation, shares (in shares) | 4,249 | 29,827 |
Cash dividends paid, per share (in dollars per share) | $ 0.28 | $ 0.27 |
Stock options exercised, shares (in shares) | 713 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2021 | |
Cash Flows from Operating Activities: | ||||
Net income | $ 8,999 | $ 11,289 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
(Recovery of) provision for loan losses | (758) | $ (2,800) | 0 | $ (2,825) |
Depreciation | 547 | 580 | ||
Net accretion of acquisition accounting adjustments | (556) | (948) | ||
Core deposit intangible amortization | 330 | 381 | ||
Net amortization of securities | 500 | 406 | ||
Gain on sale of loans held for sale | (673) | (1,318) | ||
Proceeds from sales of loans held for sale | 26,414 | 40,166 | ||
Originations of loans held for sale | (19,784) | (41,186) | ||
Net loss on other real estate owned | 0 | 111 | ||
Net gain (loss) on sale or disposal of premises and equipment | (4) | 49 | ||
Equity based compensation expense | 382 | 363 | ||
Net change in bank owned life insurance | (52) | (153) | ||
Deferred income tax expense | 641 | 106 | ||
Net change in other assets | 114 | 389 | ||
Net change in other liabilities | (34) | 3,420 | ||
Net cash provided by operating activities | 16,066 | 13,655 | ||
Cash Flows from Investing Activities: | ||||
Proceeds from maturities, calls and paydowns of securities available for sale | 42,594 | 55,825 | ||
Purchases of securities available for sale | (67,664) | (78,165) | ||
Net change in restricted stock | (428) | 691 | ||
Net (increase) decrease in loans | (40,794) | 37,381 | ||
Proceeds from sale of premises and equipment | 4 | 4 | ||
Purchases of premises and equipment | (366) | (246) | ||
Proceeds from sales of other real estate owned | 0 | 404 | ||
Net cash (used in) provided by investing activities | (66,654) | 15,894 | ||
Cash Flows from Financing Activities: | ||||
Net change in noninterest-bearing deposits | 15,697 | 77,627 | ||
Net change in interest-bearing deposits | 20,081 | (56,401) | ||
Net change in customer repurchase agreements | (2,601) | (3,346) | ||
Common stock dividends paid | (3,006) | (2,955) | ||
Repurchase of common stock | (3,395) | (1,594) | ||
Proceeds from exercise of stock options | 12 | 0 | ||
Net cash provided by financing activities | 26,788 | 13,331 | ||
Net (Decrease) Increase in Cash and Cash Equivalents | (23,800) | 42,880 | ||
Cash and Cash Equivalents at Beginning of Period | 510,868 | 374,370 | 374,370 | |
Cash and Cash Equivalents at End of Period | $ 487,068 | $ 510,868 | $ 417,250 | $ 510,868 |
Note 1 - Accounting Policies
Note 1 - Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1 The consolidated financial statements include the accounts of American National Bankshares Inc. (NASDAQ: AMNB) (the "Company") and its wholly-owned subsidiary, American National Bank and Trust Company (the "Bank"). The Company is a multi-state bank holding company headquartered in Danville, Virginia. The Bank is a community bank organization serving Virginia and North Carolina with 26 banking offices. In addition to traditional retail, commercial and mortgage offerings, the Bank also provides trust and investment services through its Trust and Investment Services Division. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") 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 consolidated 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 in the near term relate to the determination of the allowance for loan losses, goodwill and intangible assets, other-than-temporary impairment of securities, accounting for merger and acquisition activity, accounting for acquired loans with specific credit-related deterioration, and the valuation of deferred tax assets and liabilities. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the results of the interim periods. The results of operations for the interim periods are not may 10 December 31, 2021 Recently Adopted Accounting Developments In May 2021, 2021 04, 260 470 50 718 815 40 not 2021 04 January 1, 2022. not Recent Accounting Pronouncements and Other Authoritative Accounting Guidance In June 2016, 2016 13, 326 2016 13 326, 2019 04, 2019 05, 2019 10, 2019 11, 2020 02, 2020 03. not December 15, 2022. one Effective November 25, 2019, 119. 119 326, 1 2 3 4 In March 2022, No. 2022 02, 326 2022 02 2016 13 2016 13, 2022 02 December 15, 2022, not 2016 13, 2022 02 2016 13. 2016 13. may 2022 02 |
Note 2 - Securities
Note 2 - Securities | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2 The amortized cost and fair value of investments in securities available for sale at March 31, 2022 March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Securities available for sale: U.S. Treasury $ 152,260 $ — $ 7,425 $ 144,835 Federal agencies and GSEs 107,000 279 3,432 103,847 Mortgage-backed and CMOs 362,605 216 19,833 342,988 State and municipal 67,894 179 2,396 65,677 Corporate 29,450 100 721 28,829 Total securities available for sale $ 719,209 $ 774 $ 33,807 $ 686,176 The amortized cost and fair value of investments in securities available for sale at December 31, 2021 December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Securities available for sale: U.S. Treasury $ 150,751 $ — $ 1,174 $ 149,577 Federal agencies and GSEs 104,518 993 931 104,580 Mortgage-backed and CMOs 357,981 2,854 4,525 356,310 State and municipal 65,939 1,021 488 66,472 Corporate 15,450 218 140 15,528 Total securities available for sale $ 694,639 $ 5,086 $ 7,258 $ 692,467 Restricted Stock Due to restrictions placed upon the Bank's common stock investment in the Federal Reserve Bank of Richmond ("FRB") and Federal Home Loan Bank of Atlanta ("FHLB"), these securities have been classified as restricted equity securities and carried at cost. The restricted securities are not March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 FRB stock $ 6,511 $ 6,500 FHLB stock 1,973 1,556 Total restricted stock $ 8,484 $ 8,056 Temporarily Impaired Securities The following table shows estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2022 twelve Available for sale securities that have been in a continuous unrealized loss position, at March 31, 2022 Total Less than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury $ 144,835 $ 7,425 $ 144,835 $ 7,425 $ — $ — Federal agencies and GSEs 91,878 3,432 66,968 1,591 24,910 1,841 Mortgage-backed and CMOs 329,564 19,833 270,590 13,849 58,974 5,984 State and municipal 45,065 2,396 38,077 1,642 6,988 754 Corporate 21,029 721 21,029 721 — — Total $ 632,371 $ 33,807 $ 541,499 $ 25,228 $ 90,872 $ 8,579 The table below shows estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position, at December 31, 2021 Total Less than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury $ 149,577 $ 1,174 $ 149,577 $ 1,174 $ — $ — Federal agencies and GSEs 73,640 931 63,042 512 10,598 419 Mortgage-backed and CMOs 253,444 4,525 213,292 3,014 40,152 1,511 State and municipal 26,646 488 23,341 354 3,305 134 Corporate 7,611 140 7,611 140 — — Total $ 510,918 $ 7,258 $ 456,863 $ 5,194 $ 54,055 $ 2,064 U.S. Treasury securities: 12 not not not not may not March 31, 2022 Federal agencies and GSEs: Fourteen 12 not not not not may not March 31, 2022 Mortgage-backed securities: Nine 12 not not not not not may not March 31, 2022 Collateralized Mortgage Obligations: 12 not not not not not may not March 31, 2022 State and municipal securities: Eleven 12 not not not not may not at March 31, 2022 . Corporate securities: not 12 Baa2 not not not not may not t March 31, 2022 . Restricted stock: not March 31, 2022 Other-Than-Temporarily-Impaired Securities As of March 31, 2022 December 31, 2021 Realized Gains and Losses The Company did not three March 31, 2022 2021 . |
Note 3 - Loans
Note 3 - Loans | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3 Loans, net of deferred fees and costs and excluding loans held for sale, at March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Commercial $ 291,697 $ 299,773 Commercial real estate: Construction and land development 148,276 134,221 Commercial real estate - owner occupied 402,306 391,517 Commercial real estate - non-owner occupied 752,817 731,034 Residential real estate: Residential 295,949 289,757 Home equity 89,593 93,203 Consumer 7,370 7,075 Total loans, net of deferred fees and costs $ 1,988,008 $ 1,946,580 Acquired Loans The outstanding principal balance and the carrying amount of these loans, including loans accounted for under ASC 310 30, March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Outstanding principal balance $ 152,863 $ 163,574 Carrying amount 146,863 156,975 The outstanding principal balance and related carrying amount of purchased credit impaired loans, for which the Company applies ASC 310 30 March 31, 2022 December 31, 2021 Outstanding principal balance $ 22,174 $ 24,696 Carrying amount 17,633 19,802 The following table presents changes in the accretable yield on acquired impaired loans, for which the Company applies ASC 310 30, three March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Balance at January 1 $ 4,902 $ 6,513 Accretion (670 ) (5,292 ) Reclassification from nonaccretable difference 382 2,780 Other changes, net (1) (253 ) 901 $ 4,361 $ 4,902 __________________________ ( 1 Past Due Loans The following table shows an analysis by portfolio segment of the Company's past due loans at March 31, 2022 30- 59 Days Past Due 60-89 Days Past Due 90 Days + Past Due and Still Accruing Non Accrual Loans Total Past Due Current Total Loans Commercial $ — $ — $ — $ 17 $ 17 $ 291,680 $ 291,697 Commercial real estate: Construction and land development — — — — — 148,276 148,276 Commercial real estate - owner occupied — — — 4 4 402,302 402,306 Commercial real estate - non-owner occupied — 240 — 1,073 1,313 751,504 752,817 Residential: Residential 593 — — 581 1,174 294,775 295,949 Home equity 24 — 50 87 161 89,432 89,593 Consumer 3 — 21 — 24 7,346 7,370 Total $ 620 $ 240 $ 71 $ 1,762 $ 2,693 $ 1,985,315 $ 1,988,008 The following table shows an analysis by portfolio segment of the Company's past due loans at December 31, 2021 30- 59 Days Past Due 60-89 Days Past Due 90 Days + Past Due and Still Accruing Non Accrual Loans Total Past Due Current Total Loans Commercial $ 120 $ — $ — $ 26 $ 146 $ 299,627 $ 299,773 Commercial real estate: Construction and land development — — — — — 134,221 134,221 Commercial real estate - owner occupied — — — 12 12 391,505 391,517 Commercial real estate - non-owner occupied — — — 1,093 1,093 729,941 731,034 Residential: Residential 670 20 154 792 1,636 288,121 289,757 Home equity 12 30 47 80 169 93,034 93,203 Consumer 6 — 15 3 24 7,051 7,075 Total $ 808 $ 50 $ 216 $ 2,006 $ 3,080 $ 1,943,500 $ 1,946,580 Impaired Loans The following table presents the Company's impaired loan balances by portfolio segment, excluding acquired impaired loans, at March 31, 2022 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — 8 — Commercial real estate - non-owner occupied 1,159 1,160 — 1,172 1 Residential: Residential 852 859 — 1,013 6 Home equity 4 4 — 4 — Consumer — — — — — $ 2,015 $ 2,023 $ — $ 2,197 $ 7 With a related allowance recorded: Commercial $ 10 $ 2 $ 2 $ 12 $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — — — Commercial real estate - non-owner occupied — — — — — Residential Residential — — — — — Home equity — — — — — Consumer — — — — — $ 10 $ 2 $ 2 $ 12 $ — Total: Commercial $ 10 $ 2 $ 2 $ 12 $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — 8 — Commercial real estate - non-owner occupied 1,159 1,160 — 1,172 1 Residential: Residential 852 859 — 1,013 6 Home equity 4 4 — 4 — Consumer — — — — — $ 2,025 $ 2,025 $ 2 $ 2,209 $ 7 In the table above, recorded investment may The following table presents the Company's impaired loan balances by portfolio segment, excluding acquired impaired loans, at December 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 4 $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied 8 5 — 71 1 Commercial real estate - non-owner occupied 1,185 1,186 — 1,107 23 Residential: Residential 1,021 1,031 — 1,217 41 Home equity 4 4 — 5 1 Consumer — — — — — $ 2,218 $ 2,226 $ — $ 2,404 $ 66 With a related allowance recorded: Commercial $ 14 $ 7 $ 7 $ 25 $ 1 Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — — — Commercial real estate - non-owner occupied (1) — — — 30 — Residential: Residential — — — 61 2 Home equity — — — — — Consumer — — — — — $ 14 $ 7 $ 7 $ 116 $ 3 Total: Commercial $ 14 $ 7 $ 7 $ 29 $ 1 Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied 8 5 — 71 1 Commercial real estate - non-owner occupied 1,185 1,186 — 1,137 23 Residential: Residential 1,021 1,031 — 1,278 43 Home equity 4 4 — 5 1 Consumer — — — — — $ 2,232 $ 2,233 $ 7 $ 2,520 $ 69 __________________________ ( 1 zero In the table above, recorded investment may During the three March 31, 2022 and 2021 three March 31, 2022 , the Company had no restructures that subsequently defaulted within 12 three March 31, 2021, 12 one 90 The loan portfolio consists primarily of commercial and residential real estate loans, commercial loans to small and medium-sized businesses, construction and land development loans, and home equity loans. At March 31, 2022 Residential Real Estate in Process of Foreclosure The Company had $54 thousand in residential loans in process of foreclosure at March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Risk Grades The following tables show the Company's loan portfolio broken down by internal risk grading as of March 31, 2022 Commercial and Consumer Credit Exposure Credit Risk Profile by Internally Assigned Grade Commercial Construction and Land Development Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Home Equity Pass $ 285,407 $ 147,153 $ 385,250 $ 744,789 $ 292,447 $ 89,220 Special Mention 5,792 — 10,429 4,355 973 — Substandard 498 1,123 6,627 3,673 2,529 373 Doubtful — — — — — — Total $ 291,697 $ 148,276 $ 402,306 $ 752,817 $ 295,949 $ 89,593 Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Consumer Performing $ 7,370 Nonperforming — Total $ 7,370 The following tables show the Company's loan portfolio broken down by internal risk grading as of December 31, 2021 Commercial and Consumer Credit Exposure Credit Risk Profile by Internally Assigned Grade Commercial Construction and Land Development Commercial Real Estate -Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Home Equity Pass $ 290,823 $ 130,111 $ 372,177 $ 720,138 $ 285,188 $ 92,807 Special Mention 8,333 2,881 11,048 8,702 1,774 — Substandard 617 1,229 8,292 2,194 2,795 396 Doubtful — — — — — — Total $ 299,773 $ 134,221 $ 391,517 $ 731,034 $ 289,757 $ 93,203 Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Consumer Performing $ 7,057 Nonperforming 18 Total $ 7,075 Loans classified in the Pass category typically are fundamentally sound, and risk factors are reasonable and acceptable. Loans classified in the Special Mention category typically have been criticized internally, by loan review or the loan officer, or by external regulators under the current credit policy regarding risk grades. Loans classified in the Substandard category typically have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt; they are typically characterized by the possibility that the Bank will sustain some loss if the deficiencies are not Loans classified in the Doubtful category typically have all the weaknesses inherent in loans classified as substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. However, these loans are not may may Consumer loans are classified as performing or nonperforming. A loan is nonperforming when payments of interest and principal are past due 90 |
Note 4 - Allowance for Loan Los
Note 4 - Allowance for Loan Losses and Reserve for Unfunded Lending Commitments | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 4 Changes in the allowance for loan losses and the reserve for unfunded lending commitments (included in other liabilities) at and for the indicated dates and periods are presented below (dollars in thousands): Three Months Ended March 31, 2022 Year Ended December 31, 2021 Three Months Ended March 31, 2021 Allowance for Loan Losses Balance, beginning of period $ 18,678 $ 21,403 $ 21,403 Recovery of loan losses (758 ) (2,825 ) — Charge-offs (37 ) (146 ) (22 ) Recoveries 105 246 35 Balance, end of period $ 17,988 $ 18,678 $ 21,416 Reserve for Unfunded Lending Commitments Balance, beginning of period $ 386 $ 304 $ 304 Provision for (recovery of) unfunded commitments 26 82 (1 ) Balance, end of period $ 412 $ 386 $ 303 The reserve for unfunded loan commitments is included in other liabilities. The following table presents changes in the Company's allowance for loan losses by portfolio segment and the related loan balance total by segment at and for the three March 31, 2022 Commercial (1) Construction and Land Development Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Real Estate Consumer Total Allowance for Loan Losses Balance at December 31, 2021 $ 2,668 $ 1,397 $ 3,964 $ 7,141 $ 3,458 $ 50 $ 18,678 (Recovery of) provision for loan losses (261 ) (16 ) (327 ) (17 ) (142 ) 5 (758 ) Charge-offs (3 ) — — — (5 ) (29 ) (37 ) Recoveries 72 — 2 1 4 26 105 Balance at March 31, 2022 $ 2,476 $ 1,381 $ 3,639 $ 7,125 $ 3,315 $ 52 $ 17,988 Balance at March 31, 2022: Allowance for Loan Losses Individually evaluated for impairment $ 2 $ — $ — $ — $ — $ — $ 2 Collectively evaluated for impairment 2,455 1,351 3,615 6,591 3,268 52 17,332 Purchased credit impaired loans 19 30 24 534 47 — 654 Total $ 2,476 $ 1,381 $ 3,639 $ 7,125 $ 3,315 $ 52 $ 17,988 Loans Individually evaluated for impairment $ 10 $ — $ — $ 1,159 $ 856 $ — $ 2,025 Collectively evaluated for impairment 291,416 148,072 393,689 747,177 380,647 7,349 1,968,350 Purchased credit impaired loans 271 204 8,617 4,481 4,039 21 17,633 Total $ 291,697 $ 148,276 $ 402,306 $ 752,817 $ 385,542 $ 7,370 $ 1,988,008 __________________________ ( 1 The following table presents changes in the Company's allowance for loan losses by portfolio segment and the related loan balance total by segment at and for the year ended December 31, 2021 Commercial (1) Construction and Land Development Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Real Estate Consumer Total Allowance for Loan Losses Balance at December 31, 2020 $ 3,373 $ 1,927 $ 4,340 $ 7,626 $ 4,067 $ 70 $ 21,403 Provision for loan losses (745 ) (530 ) (380 ) (493 ) (655 ) (22 ) (2,825 ) Charge-offs — — (3 ) — (53 ) (90 ) (146 ) Recoveries 40 — 7 8 99 92 246 Balance at December 31, 2021 $ 2,668 $ 1,397 $ 3,964 $ 7,141 $ 3,458 $ 50 $ 18,678 Balance at December 31, 2021: Allowance for Loan Losses Individually evaluated for impairment $ 7 $ — $ — $ — $ — $ — $ 7 Collectively evaluated for impairment 2,642 1,365 3,767 6,778 3,402 50 18,004 Purchased credit impaired loans 19 32 197 363 56 — 667 Total $ 2,668 $ 1,397 $ 3,964 $ 7,141 $ 3,458 $ 50 $ 18,678 Loans Individually evaluated for impairment $ 14 $ — $ 8 $ 1,185 $ 1,025 $ — $ 2,232 Collectively evaluated for impairment 299,470 133,984 382,562 724,180 377,290 7,060 1,924,546 Purchased credit impaired loans 289 237 8,947 5,669 4,645 15 19,802 Total $ 299,773 $ 134,221 $ 391,517 $ 731,034 $ 382,960 $ 7,075 $ 1,946,580 __________________________ ( 1 The allowance for loan losses is allocated to loan segments based upon historical loss factors, risk grades on individual loans, and qualitative factors. Qualitative factors include levels and trends in delinquencies, nonaccrual loans, and charge-offs and recoveries; trends in volume and terms of loans; effects of changes in risk selection, underwriting standards, and lending policies; experience of lending staff; national, regional, and local economic trends and conditions; portfolio concentrations; regulatory and legal factors; competition; quality of loan review system; and value of underlying collateral. The Company recorded a negative provision (recovery) for loan losses of ($758) thousand for the first 2022, fourth 2021, first 2021. first 2022 fourth 2021 first 2021 |
Note 5 - Goodwill and Other Int
Note 5 - Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5 The Company's goodwill was recognized in connection with past business combinations and is reported at the community banking segment. The Company reviews the carrying value of the goodwill at least annually or more frequently if certain impairment indicators exist. In testing goodwill for impairment, the Company may first not not not no not not June 30, 2021, No three March 31, 2022 2021. Core deposit intangibles resulting from the acquisitions of MainStreet BankShares, Inc. in January 2015 April 2019 three March 31, 2022 Goodwill Intangibles Balance at December 31, 2021 $ 85,048 $ 4,627 Amortization — (330 ) Balance at March 31, 2022 $ 85,048 $ 4,297 |
Note 6 - Leases
Note 6 - Leases | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 6 The Company's leases are recorded under ASC 842, The Company's long-term lease agreements are classified as operating leases. Certain of these leases offer the option to extend the lease term, and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably certain of being exercised. The lease agreements do not no The following tables present information about the Company's leases, as of and for the periods indicated (dollars in thousands): March 31, 2022 December 31, 2021 Lease liabilities $ 3,928 $ 4,023 Right-of-use assets $ 3,845 $ 3,939 Weighted average remaining lease term (years) 6.92 6.90 Weighted average discount rate 3.07 % 3.09 % Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Lease cost Operating lease cost $ 267 $ 269 Short-term lease cost — 1 Total lease cost $ 267 $ 270 Cash paid for amounts included in the measurement of lease liabilities $ 269 $ 251 A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows (dollars in thousands): Lease payments due As of March 31, 2022 Nine months ending December 31, 2022 $ 792 Twelve months ending December 31, 2023 963 Twelve months ending December 31, 2024 533 Twelve months ending December 31, 2025 490 Twelve months ending December 31, 2026 279 Twelve months ending December 31, 2027 208 Thereafter 1,143 Total undiscounted cash flows 4,408 Discount (480 ) Lease liabilities $ 3,928 |
Note 7 - Short-term Borrowings
Note 7 - Short-term Borrowings | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | Note 7 Short-term borrowings may may may March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Customer repurchase agreements $ 38,527 $ 41,128 |
Note 8 - Long-term Borrowings
Note 8 - Long-term Borrowings | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 8 Under the terms of its collateral agreement with the FHLB, the Company provides a blanket lien covering all of its residential first second March 31, 2022 , $1.1 billion in eligible collateral was pledged under the blanket floating lien agreement which covers both short-term and long-term borrowings. There were no long-term borrowings with FHLB as of March 31, 2022 or December 31, 2021 .The Company had junior subordinated debt at March 31, 2022 2021, In the regular course of conducting its business, the Company takes deposits from political subdivisions of the states of Virginia and North Carolina. At March 31, 2022 , the Bank's public deposits totaled $316.4 million. The Company is required to provide collateral to secure the deposits that exceed the insurance coverage provided by the Federal Deposit Insurance Corporation. This collateral can be provided in the form of certain types of government or agency bonds or letters of credit from the FHLB. At March 31, 2022 , the Company had $ in letters of credit with the FHLB outstanding, as well as $114.1 million in agency, state, and municipal securities, pledged to provide collateral for such deposits. Junior Subordinated Debt On April 7, 2006, June 30, 2036, may September 30, 2011. may 2006, On July 1, 2011, two 1 not In accordance with ASC 810 10 15 14, not A description of the junior subordinated debt securities outstanding payable to the trusts is shown below as of March 31, 2022 December 31, 2021 Principal Amount Issuing Entity Date Issued Interest Rate Maturity Date March 31, 2022 December 31, 2021 AMNB Statutory Trust I 4/7/2006 LIBOR plus 1.35% 6/30/2036 $ 20,619 $ 20,619 MidCarolina Trust I 10/29/2002 LIBOR plus 3.45% 11/7/2032 4,559 4,545 MidCarolina Trust II 12/3/2003 LIBOR plus 2.95% 10/7/2033 3,079 3,068 $ 28,257 $ 28,232 The principal amounts reflected above for the MidCarolina Trusts are net of fair value adjustments of $596 thousand and $530 thousand March 31, 2022 December 31, 2021 July 1, 2011, |
Note 9 - Derivative Financial I
Note 9 - Derivative Financial Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 9 The Company uses derivative financial instruments ("derivatives") primarily to manage risks to the Company associated with changing interest rates. The Company's derivatives are hedging instruments in a qualifying hedge accounting relationship (cash flow or fair value hedge). The Company designates derivatives as cash flow hedges when they are used to manage exposure to variability in cash flows on variable rate borrowings such as the Company's trust preferred capital notes. The Company uses interest rate swap agreements as part of its hedging strategy by exchanging variable-rate interest payments on a notional amount equal to the principal amount of the borrowings for fixed-rate interest payments, with such interest rates set based on benchmarked interest rates. All interest rate swaps were entered into with counterparties that met the Company's credit standards, and the agreements contain collateral provisions protecting the at-risk party. The Company believes that the credit risk inherent in these derivative contracts is not Terms and conditions of the interest rate swaps vary, and amounts receivable or payable are recognized as accrued under the terms of the agreements. The Company assesses the effectiveness of each hedging relationship on a periodic basis. In accordance with 815, The following tables present information on the Company's derivative financial instruments as of March 31, 2022 December 31, 2021 March 31, 2022 Notional Amount Positions Assets Liabilities Cash Collateral Pledged Cash flow hedges: Interest rate swaps: Variable-rate to fixed-rate swaps with counterparty $ 28,500 3 $ — $ 915 $ 2,850 December 31, 2021 Notional Amount Positions Assets Liabilities Cash Collateral Pledged Cash flow hedges: Interest rate swaps: Variable-rate to fixed-rate swaps with counterparty $ 28,500 3 $ — $ 2,800 $ 4,050 |
Note 10 - Stock Based Compensat
Note 10 - Stock Based Compensation | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 10 The Company's 2018 "2018 February 20, 2018 May 15, 2018 2018 2018 2018 Stock Options Accounting guidance requires that compensation cost relating to share-based payment transactions be recognized in the financial statements with measurement based upon the fair value of the equity or liability instruments issued. No stock options have been granted since 2009. 2019. March 31, 2022, December 2024 March 31, 2022 , there were no nonvested stock option grants and no unrecognized compensation expense. Restricted Stock The Company from time to time grants shares of restricted stock to key employees and non-employee directors. These awards help align the interests of these employees and directors with the interests of the shareholders of the Company by providing economic value directly related to increases in the value of the Company's common stock. The value of the stock awarded is established as the fair value of the Company's common stock at the time of the grant. The Company recognizes expense, equal to the total value of such awards, ratably over the vesting period of the stock grants. The majority of the restricted stock granted cliff vests at the end of a 36-month period beginning on the date of the grant. The remainder vests one third three March 31, 2022 is summarized in the following table. Shares Weighted Average Grant Date Value Per Share Nonvested at December 31, 2021 58,461 $ 31.91 Granted 31,232 38.06 Vested (12,575 ) 32.06 Forfeited (274 ) 31.63 Nonvested at March 31, 2022 76,844 $ 34.39 As of March 31, 2022 and December 31, 2021 , there was $1.7 million and $782 thousand, respectively, in unrecognized compensation cost related to nonvested restricted stock granted under the 2018 first three months of 2022 and 2021 , respectively. The Company offers its outside directors alternatives with respect to director compensation. For 2022 first three 2022 2021 |
Note 11 - Earnings Per Common S
Note 11 - Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11 The following shows the weighted average number of shares used in computing earnings per common share and the effect on the weighted average number of shares of potentially dilutive common stock. Potentially dilutive common stock had no three March 31, 2022 2021 Three Months Ended March 31, 2022 2021 Shares Per Share Amount Shares Per Share Amount Basic earnings per share 10,754,287 $ 0.84 10,971,466 $ 1.03 Effect of dilutive securities - stock options 2,615 — 4,711 — Diluted earnings per share 10,756,902 $ 0.84 10,976,177 $ 1.03 Outstanding stock options on common stock whose effects are anti-dilutive are not three March 31, 2022 2021 |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 12 Determination of Fair Value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the fair value measurements and disclosures topic of ASC 820, no not may not not may Fair Value Hierarchy In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three Level 1 Valuation is based on quoted prices in active markets for identical assets and liabilities. Level 2 Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market. Level 3 Valuation is based on model-based techniques that use one The following describes the valuation techniques used by the Company to measure certain financial assets and financial liabilities recorded at fair value on a recurring basis in the financial statements: Securities available for sale: 1 not may 2 no third 3 no 3 March 31, 2022 December 31, 2021 Loans held for sale: not 2 Derivative asset (liability) - cash flow hedges: third 2. The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis at the dates indicated (dollars in thousands): Fair Value Measurements at March 31, 2022 Using Balance at March 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2022 Level 1 Level 2 Level 3 Assets: Securities available for sale: U.S. Treasury $ 144,835 $ — $ 144,835 $ — Federal agencies and GSEs 103,847 — 103,847 — Mortgage-backed and CMOs 342,988 — 342,988 — State and municipal 65,677 — 65,677 — Corporate 28,829 — 28,829 — Total securities available for sale $ 686,176 $ — $ 686,176 $ — Loans held for sale $ 2,524 $ — $ 2,524 $ — Liabilities: Derivative - cash flow hedges $ 915 $ — $ 915 $ — Fair Value Measurements at December 31, 2021 Using Balance at December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2021 Level 1 Level 2 Level 3 Assets: Securities available for sale: U.S. Treasury $ 149,577 $ — $ 149,577 $ — Federal agencies and GSEs 104,580 — 104,580 — Mortgage-backed and CMOs 356,310 — 356,310 — State and municipal 66,472 — 66,472 — Corporate 15,528 — 15,528 — Total securities available for sale $ 692,467 $ — $ 692,467 $ — Loans held for sale $ 8,481 $ — $ 8,481 $ — Liabilities: Derivative - cash flow hedges $ 2,800 $ — $ 2,800 $ — Certain assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a nonrecurring basis in the financial statements: Impaired loans: not may one 2 3 one not 3 one not 3 Other real estate owned: The following table summarizes the Company's assets that were measured at fair value on a nonrecurring basis at the dates indicated (dollars in thousands): Fair Value Measurements at March 31, 2022 Using Balance at March 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2022 Level 1 Level 2 Level 3 Assets: Impaired loans, net of valuation allowance $ 8 $ — $ — $ 8 Other real estate owned, net 143 — — 143 Fair Value Measurements at December 31, 2021 Using Balance at December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2021 Level 1 Level 2 Level 3 Assets: Impaired loans, net of valuation allowance $ 7 $ — $ — $ 7 Other real estate owned, net 143 — — 143 Quantitative Information about Level 3 March 31, 2022 December 31, 2021 Assets Valuation Technique Unobservable Input Range; Weighted Average (1) Impaired loans Discounted appraised value Selling cost 8.00% Other real estate owned, net Discounted appraised value Selling cost 8.00% __________________________ ( 1 ASC 825, not 825 may not The carrying values and the exit pricing concept fair values of the Company's financial instruments at March 31, 2022 Fair Value Measurements at March 31, 2022 Using Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value Value Level 1 Level 2 Level 3 Balance Financial Assets: Cash and cash equivalents $ 487,068 $ 487,068 $ — $ — $ 487,068 Securities available for sale 686,176 — 686,176 — 686,176 Restricted stock 8,484 — 8,484 — 8,484 Loans held for sale 2,524 — 2,524 — 2,524 Loans, net of allowance 1,970,020 — — 1,956,996 1,956,996 Bank owned life insurance 29,159 — 29,159 — 29,159 Accrued interest receivable 5,731 — 5,731 — 5,731 Financial Liabilities: Deposits $ 2,926,207 $ — $ 2,927,690 $ — $ 2,927,690 Repurchase agreements 38,527 — 38,527 — 38,527 Junior subordinated debt 28,257 — — 28,029 28,029 Accrued interest payable 341 — 341 — 341 Derivative - cash flow hedges 915 — 915 — 915 The carrying values and the exit pricing concept fair values of the Company's financial instruments at December 31, 2021 Fair Value Measurements at December 31, 2021 Using Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value Value Level 1 Level 2 Level 3 Balance Financial Assets: Cash and cash equivalents $ 510,868 $ 510,868 $ — $ — $ 510,868 Securities available for sale 692,467 — 692,467 — 692,467 Restricted stock 8,056 — 8,056 — 8,056 Loans held for sale 8,481 — 8,481 — 8,481 Loans, net of allowance 1,927,902 — — 1,914,887 1,914,887 Bank owned life insurance 29,107 — 29,107 — 29,107 Accrued interest receivable 5,822 — 5,822 — 5,822 Financial Liabilities: Deposits $ 2,890,353 $ — $ 2,892,487 $ — $ 2,892,487 Repurchase agreements 41,128 — 41,128 — 41,128 Junior subordinated debt 28,232 — — 26,635 26,635 Accrued interest payable 392 — 392 — 392 Derivative - cash flow hedges 2,800 — 2,800 — 2,800 |
Note 13 - Segment and Related I
Note 13 - Segment and Related Information | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 13 The Company has two reportable segments, community banking and wealth management. Community banking involves making loans to and generating deposits from individuals and businesses. Investment income from securities is also allocated to the community banking segment. Loan fee income, service charges from deposit accounts, and non-deposit fees such as automated teller machine fees and insurance commissions generate additional income for the community banking segment. Wealth management includes estate planning, trust account administration, investment management, and retail brokerage. Investment management services include purchasing equity, fixed income, and mutual fund investments for customer accounts. The wealth management segment receives fees for investment and administrative services. Segment information as of and for the three March 31, 2022 2021 As of and For the Three Months Ended March 31, 2022 Community Banking Wealth Management Total Interest income $ 21,407 $ — $ 21,407 Interest expense 954 — 954 Noninterest income 3,791 1,809 5,600 Noninterest expense 14,656 693 15,349 Income before income taxes 10,346 1,116 11,462 Net income 8,123 876 8,999 Depreciation and amortization 875 2 877 Total assets 3,345,962 276 3,346,238 Goodwill 85,048 — 85,048 Capital expenditures 366 — 366 As of and For the Three Months Ended March 31, 2021 Community Banking Wealth Management Total Interest income $ 24,204 $ — $ 24,204 Interest expense 1,781 — 1,781 Noninterest income 4,498 1,424 5,922 Noninterest expense 13,401 664 14,065 Income before income taxes 13,520 760 14,280 Net income 10,688 601 11,289 Depreciation and amortization 958 3 961 Total assets 3,073,188 244 3,073,432 Goodwill 85,048 — 85,048 Capital expenditures 246 — 246 |
Note 14 - Supplemental Cash Flo
Note 14 - Supplemental Cash Flow Information | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | Note 14 Supplemental cash flow information as of and for the three March 31, 2022 2021 2022 2021 Supplemental Schedule of Cash and Cash Equivalents: Cash and due from banks $ 34,506 $ 33,266 Interest-bearing deposits in other banks 452,562 383,984 Cash and Cash Equivalents $ 487,068 $ 417,250 Supplemental Disclosure of Cash Flow Information: Cash paid for: Interest on deposits and borrowed funds $ 995 $ 2,016 Income taxes — (1,205 ) Noncash investing and financing activities: Net unrealized losses on securities available for sale (30,861 ) (5,882 ) Net unrealized gains on cash flow hedges 1,885 1,781 |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 15 There were no March 31, 2022 2021. three March 31, 2022 2021 For the Three Months Ended Net Unrealized Gains (Losses) on Securities Unrealized Gains (Losses) on Cash Flow Hedges Adjustments Related to Pension Benefits Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2020 $ 7,920 $ (3,846 ) $ (1,637 ) $ 2,437 Net unrealized losses on securities available for sale, net of tax, $( 1,271 (4,611 ) — — (4,611 ) Net unrealized gains on cash flow hedges, net of tax, $ 374 — 1,407 — 1,407 Balance at March 31, 2021 $ 3,309 $ (2,439 ) $ (1,637 ) $ (767 ) Balance at December 31, 2021 $ (1,701 ) $ (2,212 ) $ (1,162 ) $ (5,075 ) Net unrealized losses on securities available for sale, net of tax, $( 6,662 (24,199 ) — — (24,199 ) Net unrealized gains on cash flow hedges, net of tax, $ 396 — 1,489 — 1,489 Balance at March 31, 2022 $ (25,900 ) $ (723 ) $ (1,162 ) $ (27,785 ) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The consolidated financial statements include the accounts of American National Bankshares Inc. (NASDAQ: AMNB) (the "Company") and its wholly-owned subsidiary, American National Bank and Trust Company (the "Bank"). The Company is a multi-state bank holding company headquartered in Danville, Virginia. The Bank is a community bank organization serving Virginia and North Carolina with 26 banking offices. In addition to traditional retail, commercial and mortgage offerings, the Bank also provides trust and investment services through its Trust and Investment Services Division. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") 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 consolidated 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 in the near term relate to the determination of the allowance for loan losses, goodwill and intangible assets, other-than-temporary impairment of securities, accounting for merger and acquisition activity, accounting for acquired loans with specific credit-related deterioration, and the valuation of deferred tax assets and liabilities. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the results of the interim periods. The results of operations for the interim periods are not may 10 December 31, 2021 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Developments In May 2021, 2021 04, 260 470 50 718 815 40 not 2021 04 January 1, 2022. not Recent Accounting Pronouncements and Other Authoritative Accounting Guidance In June 2016, 2016 13, 326 2016 13 326, 2019 04, 2019 05, 2019 10, 2019 11, 2020 02, 2020 03. not December 15, 2022. one Effective November 25, 2019, 119. 119 326, 1 2 3 4 In March 2022, No. 2022 02, 326 2022 02 2016 13 2016 13, 2022 02 December 15, 2022, not 2016 13, 2022 02 2016 13. 2016 13. may 2022 02 |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Marketable Securities [Table Text Block] | March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Securities available for sale: U.S. Treasury $ 152,260 $ — $ 7,425 $ 144,835 Federal agencies and GSEs 107,000 279 3,432 103,847 Mortgage-backed and CMOs 362,605 216 19,833 342,988 State and municipal 67,894 179 2,396 65,677 Corporate 29,450 100 721 28,829 Total securities available for sale $ 719,209 $ 774 $ 33,807 $ 686,176 December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Securities available for sale: U.S. Treasury $ 150,751 $ — $ 1,174 $ 149,577 Federal agencies and GSEs 104,518 993 931 104,580 Mortgage-backed and CMOs 357,981 2,854 4,525 356,310 State and municipal 65,939 1,021 488 66,472 Corporate 15,450 218 140 15,528 Total securities available for sale $ 694,639 $ 5,086 $ 7,258 $ 692,467 |
Schedule of Cost of Investments in Restricted Stock [Table Text Block] | March 31, 2022 December 31, 2021 FRB stock $ 6,511 $ 6,500 FHLB stock 1,973 1,556 Total restricted stock $ 8,484 $ 8,056 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Total Less than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury $ 144,835 $ 7,425 $ 144,835 $ 7,425 $ — $ — Federal agencies and GSEs 91,878 3,432 66,968 1,591 24,910 1,841 Mortgage-backed and CMOs 329,564 19,833 270,590 13,849 58,974 5,984 State and municipal 45,065 2,396 38,077 1,642 6,988 754 Corporate 21,029 721 21,029 721 — — Total $ 632,371 $ 33,807 $ 541,499 $ 25,228 $ 90,872 $ 8,579 Total Less than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury $ 149,577 $ 1,174 $ 149,577 $ 1,174 $ — $ — Federal agencies and GSEs 73,640 931 63,042 512 10,598 419 Mortgage-backed and CMOs 253,444 4,525 213,292 3,014 40,152 1,511 State and municipal 26,646 488 23,341 354 3,305 134 Corporate 7,611 140 7,611 140 — — Total $ 510,918 $ 7,258 $ 456,863 $ 5,194 $ 54,055 $ 2,064 |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2022 December 31, 2021 Commercial $ 291,697 $ 299,773 Commercial real estate: Construction and land development 148,276 134,221 Commercial real estate - owner occupied 402,306 391,517 Commercial real estate - non-owner occupied 752,817 731,034 Residential real estate: Residential 295,949 289,757 Home equity 89,593 93,203 Consumer 7,370 7,075 Total loans, net of deferred fees and costs $ 1,988,008 $ 1,946,580 |
Schedule of Outstanding and Carrying Amount of Certain Loans Acquired in Transfer [Table Text Block] | March 31, 2022 December 31, 2021 Outstanding principal balance $ 152,863 $ 163,574 Carrying amount 146,863 156,975 March 31, 2022 December 31, 2021 Outstanding principal balance $ 22,174 $ 24,696 Carrying amount 17,633 19,802 |
Schedule of Changes in Accretable Yield on Acquired Loans [Table Text Block] | March 31, 2022 December 31, 2021 Balance at January 1 $ 4,902 $ 6,513 Accretion (670 ) (5,292 ) Reclassification from nonaccretable difference 382 2,780 Other changes, net (1) (253 ) 901 $ 4,361 $ 4,902 |
Financing Receivable, Past Due [Table Text Block] | 30- 59 Days Past Due 60-89 Days Past Due 90 Days + Past Due and Still Accruing Non Accrual Loans Total Past Due Current Total Loans Commercial $ — $ — $ — $ 17 $ 17 $ 291,680 $ 291,697 Commercial real estate: Construction and land development — — — — — 148,276 148,276 Commercial real estate - owner occupied — — — 4 4 402,302 402,306 Commercial real estate - non-owner occupied — 240 — 1,073 1,313 751,504 752,817 Residential: Residential 593 — — 581 1,174 294,775 295,949 Home equity 24 — 50 87 161 89,432 89,593 Consumer 3 — 21 — 24 7,346 7,370 Total $ 620 $ 240 $ 71 $ 1,762 $ 2,693 $ 1,985,315 $ 1,988,008 30- 59 Days Past Due 60-89 Days Past Due 90 Days + Past Due and Still Accruing Non Accrual Loans Total Past Due Current Total Loans Commercial $ 120 $ — $ — $ 26 $ 146 $ 299,627 $ 299,773 Commercial real estate: Construction and land development — — — — — 134,221 134,221 Commercial real estate - owner occupied — — — 12 12 391,505 391,517 Commercial real estate - non-owner occupied — — — 1,093 1,093 729,941 731,034 Residential: Residential 670 20 154 792 1,636 288,121 289,757 Home equity 12 30 47 80 169 93,034 93,203 Consumer 6 — 15 3 24 7,051 7,075 Total $ 808 $ 50 $ 216 $ 2,006 $ 3,080 $ 1,943,500 $ 1,946,580 |
Impaired Financing Receivables [Table Text Block] | Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — 8 — Commercial real estate - non-owner occupied 1,159 1,160 — 1,172 1 Residential: Residential 852 859 — 1,013 6 Home equity 4 4 — 4 — Consumer — — — — — $ 2,015 $ 2,023 $ — $ 2,197 $ 7 With a related allowance recorded: Commercial $ 10 $ 2 $ 2 $ 12 $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — — — Commercial real estate - non-owner occupied — — — — — Residential Residential — — — — — Home equity — — — — — Consumer — — — — — $ 10 $ 2 $ 2 $ 12 $ — Total: Commercial $ 10 $ 2 $ 2 $ 12 $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — 8 — Commercial real estate - non-owner occupied 1,159 1,160 — 1,172 1 Residential: Residential 852 859 — 1,013 6 Home equity 4 4 — 4 — Consumer — — — — — $ 2,025 $ 2,025 $ 2 $ 2,209 $ 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 4 $ — Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied 8 5 — 71 1 Commercial real estate - non-owner occupied 1,185 1,186 — 1,107 23 Residential: Residential 1,021 1,031 — 1,217 41 Home equity 4 4 — 5 1 Consumer — — — — — $ 2,218 $ 2,226 $ — $ 2,404 $ 66 With a related allowance recorded: Commercial $ 14 $ 7 $ 7 $ 25 $ 1 Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied — — — — — Commercial real estate - non-owner occupied (1) — — — 30 — Residential: Residential — — — 61 2 Home equity — — — — — Consumer — — — — — $ 14 $ 7 $ 7 $ 116 $ 3 Total: Commercial $ 14 $ 7 $ 7 $ 29 $ 1 Commercial real estate: Construction and land development — — — — — Commercial real estate - owner occupied 8 5 — 71 1 Commercial real estate - non-owner occupied 1,185 1,186 — 1,137 23 Residential: Residential 1,021 1,031 — 1,278 43 Home equity 4 4 — 5 1 Consumer — — — — — $ 2,232 $ 2,233 $ 7 $ 2,520 $ 69 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Commercial Construction and Land Development Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Home Equity Pass $ 285,407 $ 147,153 $ 385,250 $ 744,789 $ 292,447 $ 89,220 Special Mention 5,792 — 10,429 4,355 973 — Substandard 498 1,123 6,627 3,673 2,529 373 Doubtful — — — — — — Total $ 291,697 $ 148,276 $ 402,306 $ 752,817 $ 295,949 $ 89,593 Consumer Performing $ 7,370 Nonperforming — Total $ 7,370 Commercial Construction and Land Development Commercial Real Estate -Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Home Equity Pass $ 290,823 $ 130,111 $ 372,177 $ 720,138 $ 285,188 $ 92,807 Special Mention 8,333 2,881 11,048 8,702 1,774 — Substandard 617 1,229 8,292 2,194 2,795 396 Doubtful — — — — — — Total $ 299,773 $ 134,221 $ 391,517 $ 731,034 $ 289,757 $ 93,203 Consumer Performing $ 7,057 Nonperforming 18 Total $ 7,075 |
Note 4 - Allowance for Loan L_2
Note 4 - Allowance for Loan Losses and Reserve for Unfunded Lending Commitments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three Months Ended March 31, 2022 Year Ended December 31, 2021 Three Months Ended March 31, 2021 Allowance for Loan Losses Balance, beginning of period $ 18,678 $ 21,403 $ 21,403 Recovery of loan losses (758 ) (2,825 ) — Charge-offs (37 ) (146 ) (22 ) Recoveries 105 246 35 Balance, end of period $ 17,988 $ 18,678 $ 21,416 Reserve for Unfunded Lending Commitments Balance, beginning of period $ 386 $ 304 $ 304 Provision for (recovery of) unfunded commitments 26 82 (1 ) Balance, end of period $ 412 $ 386 $ 303 Commercial (1) Construction and Land Development Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Real Estate Consumer Total Allowance for Loan Losses Balance at December 31, 2021 $ 2,668 $ 1,397 $ 3,964 $ 7,141 $ 3,458 $ 50 $ 18,678 (Recovery of) provision for loan losses (261 ) (16 ) (327 ) (17 ) (142 ) 5 (758 ) Charge-offs (3 ) — — — (5 ) (29 ) (37 ) Recoveries 72 — 2 1 4 26 105 Balance at March 31, 2022 $ 2,476 $ 1,381 $ 3,639 $ 7,125 $ 3,315 $ 52 $ 17,988 Balance at March 31, 2022: Allowance for Loan Losses Individually evaluated for impairment $ 2 $ — $ — $ — $ — $ — $ 2 Collectively evaluated for impairment 2,455 1,351 3,615 6,591 3,268 52 17,332 Purchased credit impaired loans 19 30 24 534 47 — 654 Total $ 2,476 $ 1,381 $ 3,639 $ 7,125 $ 3,315 $ 52 $ 17,988 Loans Individually evaluated for impairment $ 10 $ — $ — $ 1,159 $ 856 $ — $ 2,025 Collectively evaluated for impairment 291,416 148,072 393,689 747,177 380,647 7,349 1,968,350 Purchased credit impaired loans 271 204 8,617 4,481 4,039 21 17,633 Total $ 291,697 $ 148,276 $ 402,306 $ 752,817 $ 385,542 $ 7,370 $ 1,988,008 Commercial (1) Construction and Land Development Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-owner Occupied Residential Real Estate Consumer Total Allowance for Loan Losses Balance at December 31, 2020 $ 3,373 $ 1,927 $ 4,340 $ 7,626 $ 4,067 $ 70 $ 21,403 Provision for loan losses (745 ) (530 ) (380 ) (493 ) (655 ) (22 ) (2,825 ) Charge-offs — — (3 ) — (53 ) (90 ) (146 ) Recoveries 40 — 7 8 99 92 246 Balance at December 31, 2021 $ 2,668 $ 1,397 $ 3,964 $ 7,141 $ 3,458 $ 50 $ 18,678 Balance at December 31, 2021: Allowance for Loan Losses Individually evaluated for impairment $ 7 $ — $ — $ — $ — $ — $ 7 Collectively evaluated for impairment 2,642 1,365 3,767 6,778 3,402 50 18,004 Purchased credit impaired loans 19 32 197 363 56 — 667 Total $ 2,668 $ 1,397 $ 3,964 $ 7,141 $ 3,458 $ 50 $ 18,678 Loans Individually evaluated for impairment $ 14 $ — $ 8 $ 1,185 $ 1,025 $ — $ 2,232 Collectively evaluated for impairment 299,470 133,984 382,562 724,180 377,290 7,060 1,924,546 Purchased credit impaired loans 289 237 8,947 5,669 4,645 15 19,802 Total $ 299,773 $ 134,221 $ 391,517 $ 731,034 $ 382,960 $ 7,075 $ 1,946,580 |
Note 5 - Goodwill and Other I_2
Note 5 - Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Goodwill Intangibles Balance at December 31, 2021 $ 85,048 $ 4,627 Amortization — (330 ) Balance at March 31, 2022 $ 85,048 $ 4,297 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | March 31, 2022 December 31, 2021 Lease liabilities $ 3,928 $ 4,023 Right-of-use assets $ 3,845 $ 3,939 Weighted average remaining lease term (years) 6.92 6.90 Weighted average discount rate 3.07 % 3.09 % Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Lease cost Operating lease cost $ 267 $ 269 Short-term lease cost — 1 Total lease cost $ 267 $ 270 Cash paid for amounts included in the measurement of lease liabilities $ 269 $ 251 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Lease payments due As of March 31, 2022 Nine months ending December 31, 2022 $ 792 Twelve months ending December 31, 2023 963 Twelve months ending December 31, 2024 533 Twelve months ending December 31, 2025 490 Twelve months ending December 31, 2026 279 Twelve months ending December 31, 2027 208 Thereafter 1,143 Total undiscounted cash flows 4,408 Discount (480 ) Lease liabilities $ 3,928 |
Note 7 - Short-term Borrowings
Note 7 - Short-term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Short-Term Debt [Table Text Block] | March 31, 2022 December 31, 2021 Customer repurchase agreements $ 38,527 $ 41,128 |
Note 8 - Long-term Borrowings (
Note 8 - Long-term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | Principal Amount Issuing Entity Date Issued Interest Rate Maturity Date March 31, 2022 December 31, 2021 AMNB Statutory Trust I 4/7/2006 LIBOR plus 1.35% 6/30/2036 $ 20,619 $ 20,619 MidCarolina Trust I 10/29/2002 LIBOR plus 3.45% 11/7/2032 4,559 4,545 MidCarolina Trust II 12/3/2003 LIBOR plus 2.95% 10/7/2033 3,079 3,068 $ 28,257 $ 28,232 |
Note 9 - Derivative Financial_2
Note 9 - Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | March 31, 2022 Notional Amount Positions Assets Liabilities Cash Collateral Pledged Cash flow hedges: Interest rate swaps: Variable-rate to fixed-rate swaps with counterparty $ 28,500 3 $ — $ 915 $ 2,850 December 31, 2021 Notional Amount Positions Assets Liabilities Cash Collateral Pledged Cash flow hedges: Interest rate swaps: Variable-rate to fixed-rate swaps with counterparty $ 28,500 3 $ — $ 2,800 $ 4,050 |
Note 10 - Stock Based Compens_2
Note 10 - Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Shares Weighted Average Grant Date Value Per Share Nonvested at December 31, 2021 58,461 $ 31.91 Granted 31,232 38.06 Vested (12,575 ) 32.06 Forfeited (274 ) 31.63 Nonvested at March 31, 2022 76,844 $ 34.39 |
Note 11 - Earnings Per Common_2
Note 11 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2022 2021 Shares Per Share Amount Shares Per Share Amount Basic earnings per share 10,754,287 $ 0.84 10,971,466 $ 1.03 Effect of dilutive securities - stock options 2,615 — 4,711 — Diluted earnings per share 10,756,902 $ 0.84 10,976,177 $ 1.03 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at March 31, 2022 Using Balance at March 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2022 Level 1 Level 2 Level 3 Assets: Securities available for sale: U.S. Treasury $ 144,835 $ — $ 144,835 $ — Federal agencies and GSEs 103,847 — 103,847 — Mortgage-backed and CMOs 342,988 — 342,988 — State and municipal 65,677 — 65,677 — Corporate 28,829 — 28,829 — Total securities available for sale $ 686,176 $ — $ 686,176 $ — Loans held for sale $ 2,524 $ — $ 2,524 $ — Liabilities: Derivative - cash flow hedges $ 915 $ — $ 915 $ — Fair Value Measurements at December 31, 2021 Using Balance at December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2021 Level 1 Level 2 Level 3 Assets: Securities available for sale: U.S. Treasury $ 149,577 $ — $ 149,577 $ — Federal agencies and GSEs 104,580 — 104,580 — Mortgage-backed and CMOs 356,310 — 356,310 — State and municipal 66,472 — 66,472 — Corporate 15,528 — 15,528 — Total securities available for sale $ 692,467 $ — $ 692,467 $ — Loans held for sale $ 8,481 $ — $ 8,481 $ — Liabilities: Derivative - cash flow hedges $ 2,800 $ — $ 2,800 $ — |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at March 31, 2022 Using Balance at March 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2022 Level 1 Level 2 Level 3 Assets: Impaired loans, net of valuation allowance $ 8 $ — $ — $ 8 Other real estate owned, net 143 — — 143 Fair Value Measurements at December 31, 2021 Using Balance at December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Description 2021 Level 1 Level 2 Level 3 Assets: Impaired loans, net of valuation allowance $ 7 $ — $ — $ 7 Other real estate owned, net 143 — — 143 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Assets Valuation Technique Unobservable Input Range; Weighted Average (1) Impaired loans Discounted appraised value Selling cost 8.00% Other real estate owned, net Discounted appraised value Selling cost 8.00% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at March 31, 2022 Using Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value Value Level 1 Level 2 Level 3 Balance Financial Assets: Cash and cash equivalents $ 487,068 $ 487,068 $ — $ — $ 487,068 Securities available for sale 686,176 — 686,176 — 686,176 Restricted stock 8,484 — 8,484 — 8,484 Loans held for sale 2,524 — 2,524 — 2,524 Loans, net of allowance 1,970,020 — — 1,956,996 1,956,996 Bank owned life insurance 29,159 — 29,159 — 29,159 Accrued interest receivable 5,731 — 5,731 — 5,731 Financial Liabilities: Deposits $ 2,926,207 $ — $ 2,927,690 $ — $ 2,927,690 Repurchase agreements 38,527 — 38,527 — 38,527 Junior subordinated debt 28,257 — — 28,029 28,029 Accrued interest payable 341 — 341 — 341 Derivative - cash flow hedges 915 — 915 — 915 Fair Value Measurements at December 31, 2021 Using Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value Value Level 1 Level 2 Level 3 Balance Financial Assets: Cash and cash equivalents $ 510,868 $ 510,868 $ — $ — $ 510,868 Securities available for sale 692,467 — 692,467 — 692,467 Restricted stock 8,056 — 8,056 — 8,056 Loans held for sale 8,481 — 8,481 — 8,481 Loans, net of allowance 1,927,902 — — 1,914,887 1,914,887 Bank owned life insurance 29,107 — 29,107 — 29,107 Accrued interest receivable 5,822 — 5,822 — 5,822 Financial Liabilities: Deposits $ 2,890,353 $ — $ 2,892,487 $ — $ 2,892,487 Repurchase agreements 41,128 — 41,128 — 41,128 Junior subordinated debt 28,232 — — 26,635 26,635 Accrued interest payable 392 — 392 — 392 Derivative - cash flow hedges 2,800 — 2,800 — 2,800 |
Note 13 - Segment and Related_2
Note 13 - Segment and Related Information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of and For the Three Months Ended March 31, 2022 Community Banking Wealth Management Total Interest income $ 21,407 $ — $ 21,407 Interest expense 954 — 954 Noninterest income 3,791 1,809 5,600 Noninterest expense 14,656 693 15,349 Income before income taxes 10,346 1,116 11,462 Net income 8,123 876 8,999 Depreciation and amortization 875 2 877 Total assets 3,345,962 276 3,346,238 Goodwill 85,048 — 85,048 Capital expenditures 366 — 366 As of and For the Three Months Ended March 31, 2021 Community Banking Wealth Management Total Interest income $ 24,204 $ — $ 24,204 Interest expense 1,781 — 1,781 Noninterest income 4,498 1,424 5,922 Noninterest expense 13,401 664 14,065 Income before income taxes 13,520 760 14,280 Net income 10,688 601 11,289 Depreciation and amortization 958 3 961 Total assets 3,073,188 244 3,073,432 Goodwill 85,048 — 85,048 Capital expenditures 246 — 246 |
Note 14 - Supplemental Cash F_2
Note 14 - Supplemental Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | 2022 2021 Supplemental Schedule of Cash and Cash Equivalents: Cash and due from banks $ 34,506 $ 33,266 Interest-bearing deposits in other banks 452,562 383,984 Cash and Cash Equivalents $ 487,068 $ 417,250 Supplemental Disclosure of Cash Flow Information: Cash paid for: Interest on deposits and borrowed funds $ 995 $ 2,016 Income taxes — (1,205 ) Noncash investing and financing activities: Net unrealized losses on securities available for sale (30,861 ) (5,882 ) Net unrealized gains on cash flow hedges 1,885 1,781 |
Note 15 - Accumulated Other C_2
Note 15 - Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | For the Three Months Ended Net Unrealized Gains (Losses) on Securities Unrealized Gains (Losses) on Cash Flow Hedges Adjustments Related to Pension Benefits Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2020 $ 7,920 $ (3,846 ) $ (1,637 ) $ 2,437 Net unrealized losses on securities available for sale, net of tax, $( 1,271 (4,611 ) — — (4,611 ) Net unrealized gains on cash flow hedges, net of tax, $ 374 — 1,407 — 1,407 Balance at March 31, 2021 $ 3,309 $ (2,439 ) $ (1,637 ) $ (767 ) Balance at December 31, 2021 $ (1,701 ) $ (2,212 ) $ (1,162 ) $ (5,075 ) Net unrealized losses on securities available for sale, net of tax, $( 6,662 (24,199 ) — — (24,199 ) Net unrealized gains on cash flow hedges, net of tax, $ 396 — 1,489 — 1,489 Balance at March 31, 2022 $ (25,900 ) $ (723 ) $ (1,162 ) $ (27,785 ) |
Note 1 - Accounting Policies (D
Note 1 - Accounting Policies (Details Textual) | Mar. 31, 2022 |
Number of Banking Offices | 26 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | |
Par Value of Restricted Stock Out of Outstanding Capital Required by FRB | 3.00% | ||
Percentage of Par Value of Federal Reserve Banks Restricted Stock Outstanding Capital Subject to Call | 3.00% | ||
Par Value of Restricted Stock Out of Outstanding Borrowings Required by FHLB | 3.75% | ||
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 | |
Debt Securities, Available-for-Sale, Realized Gain (Loss), Total | 0 | $ 0 | |
Proceeds from Sale of Debt Securities, Available-for-Sale | 0 | $ 0 | |
Investment in Federal Home Loan Bank Stock [Member] | |||
Other than Temporary Impairment Losses, Investments | $ 0 | ||
US Treasury Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 22 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 0 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 41 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 14 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 82 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 9 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
Collateralized Mortgage-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 49 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 6 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 66 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 11 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 6 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 0 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
Corporate Debt Securities [Member] | Moody's, Baa2 Rating [Member] | |||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 1 |
Note 2 - Securities - Amortized
Note 2 - Securities - Amortized Cost and Fair Value of Investments in Debt Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Securities available for sale, amortized cost | $ 719,209 | $ 694,639 | |
Securities available for sale, unrealized gains | 774 | 5,086 | |
Securities available for sale, unrealized losses | 33,807 | 7,258 | |
Securities available for sale, fair value | 686,176 | 692,467 | [1] |
US Treasury Securities [Member] | |||
Securities available for sale, amortized cost | 152,260 | 150,751 | |
Securities available for sale, unrealized gains | 0 | 0 | |
Securities available for sale, unrealized losses | 7,425 | 1,174 | |
Securities available for sale, fair value | 144,835 | 149,577 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Securities available for sale, amortized cost | 107,000 | 104,518 | |
Securities available for sale, unrealized gains | 279 | 993 | |
Securities available for sale, unrealized losses | 3,432 | 931 | |
Securities available for sale, fair value | 103,847 | 104,580 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Securities available for sale, amortized cost | 362,605 | 357,981 | |
Securities available for sale, unrealized gains | 216 | 2,854 | |
Securities available for sale, unrealized losses | 19,833 | 4,525 | |
Securities available for sale, fair value | 342,988 | 356,310 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available for sale, amortized cost | 67,894 | 65,939 | |
Securities available for sale, unrealized gains | 179 | 1,021 | |
Securities available for sale, unrealized losses | 2,396 | 488 | |
Securities available for sale, fair value | 65,677 | 66,472 | |
Corporate Debt Securities [Member] | |||
Securities available for sale, amortized cost | 29,450 | 15,450 | |
Securities available for sale, unrealized gains | 100 | 218 | |
Securities available for sale, unrealized losses | 721 | 140 | |
Securities available for sale, fair value | $ 28,829 | $ 15,528 | |
[1] | Derived from audited consolidated financial statements |
Note 2 - Securities - Cost of R
Note 2 - Securities - Cost of Restricted Stock (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Total restricted stock | $ 8,484 | $ 8,056 | [1] |
FRB Stock [Member] | |||
Total restricted stock | 6,511 | 6,500 | |
FHLB Stock [Member] | |||
Total restricted stock | $ 1,973 | $ 1,556 | |
[1] | Derived from audited consolidated financial statements |
Note 2 - Securities - Available
Note 2 - Securities - Available for Sale Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Total, fair value | $ 632,371 | $ 510,918 |
Total, unrealized loss | 33,807 | 7,258 |
Less than 12 months, fair value | 541,499 | 456,863 |
Less than 12 months, unrealized loss | 25,228 | 5,194 |
12 months or more, fair value | 90,872 | 54,055 |
12 months or more, unrealized loss | 8,579 | 2,064 |
US Treasury Securities [Member] | ||
Total, fair value | 144,835 | 149,577 |
Total, unrealized loss | 7,425 | 1,174 |
Less than 12 months, fair value | 144,835 | 149,577 |
Less than 12 months, unrealized loss | 7,425 | 1,174 |
12 months or more, fair value | 0 | 0 |
12 months or more, unrealized loss | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Total, fair value | 91,878 | 73,640 |
Total, unrealized loss | 3,432 | 931 |
Less than 12 months, fair value | 66,968 | 63,042 |
Less than 12 months, unrealized loss | 1,591 | 512 |
12 months or more, fair value | 24,910 | 10,598 |
12 months or more, unrealized loss | 1,841 | 419 |
Collateralized Mortgage-Backed Securities [Member] | ||
Total, fair value | 329,564 | 253,444 |
Total, unrealized loss | 19,833 | 4,525 |
Less than 12 months, fair value | 270,590 | 213,292 |
Less than 12 months, unrealized loss | 13,849 | 3,014 |
12 months or more, fair value | 58,974 | 40,152 |
12 months or more, unrealized loss | 5,984 | 1,511 |
US States and Political Subdivisions Debt Securities [Member] | ||
Total, fair value | 45,065 | 26,646 |
Total, unrealized loss | 2,396 | 488 |
Less than 12 months, fair value | 38,077 | 23,341 |
Less than 12 months, unrealized loss | 1,642 | 354 |
12 months or more, fair value | 6,988 | 3,305 |
12 months or more, unrealized loss | 754 | 134 |
Corporate Debt Securities [Member] | ||
Total, fair value | 21,029 | 7,611 |
Total, unrealized loss | 721 | 140 |
Less than 12 months, fair value | 21,029 | 7,611 |
Less than 12 months, unrealized loss | 721 | 140 |
12 months or more, fair value | 0 | 0 |
12 months or more, unrealized loss | $ 0 | $ 0 |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | ||||
Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | |||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||
Loans and Leases Receivable, Net of Deferred Income | $ 1,988,008,000 | $ 1,946,580,000 | [1] | ||
Mortgage Loans in Process of Foreclosure, Amount | 54,000 | 103,000 | |||
Real Estate Acquired Through Foreclosure | 0 | 0 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 259,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Hotel Loans [Member] | |||||
Loans and Leases Receivable, Net of Deferred Income | 84,000,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Restaurant Loans [Member] | |||||
Loans and Leases Receivable, Net of Deferred Income | 46,000,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Retail Loans [Member] | |||||
Loans and Leases Receivable, Net of Deferred Income | 208,000,000 | ||||
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 106,000 | ||||
Loans and Leases Receivable, Net of Deferred Income | [2] | $ 291,697,000 | $ 299,773,000 | ||
Commercial Portfolio Segment [Member] | Hotel Loans [Member] | Credit Concentration Risk [Member] | Loan Receivable [Member] | |||||
Concentration Risk, Percentage | 4.20% | ||||
Commercial Portfolio Segment [Member] | Restaurant Loans [Member] | Credit Concentration Risk [Member] | Loan Receivable [Member] | |||||
Concentration Risk, Percentage | 2.30% | ||||
Commercial Portfolio Segment [Member] | Retail Loans [Member] | Credit Concentration Risk [Member] | Loan Receivable [Member] | |||||
Concentration Risk, Percentage | 10.50% | ||||
[1] | Derived from audited consolidated financial statements | ||||
[2] | Includes PPP loans, which are guaranteed by the SBA and have no related allowance. |
Note 3 - Loans - Loans (Details
Note 3 - Loans - Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | ||
Loans and Leases Receivable, Net of Deferred Income | $ 1,988,008 | $ 1,946,580 | [1] | |
Commercial Portfolio Segment [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | [2] | 291,697 | 299,773 | |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 148,276 | 134,221 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 402,306 | 391,517 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | ||
Residential Portfolio Segment [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 385,542 | 382,960 | ||
Residential Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | ||
Residential Portfolio Segment [Member] | Residential [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 295,949 | 289,757 | ||
Residential Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 89,593 | 93,203 | ||
Consumer Portfolio Segment [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | $ 7,370 | $ 7,075 | ||
[1] | Derived from audited consolidated financial statements | |||
[2] | Includes PPP loans, which are guaranteed by the SBA and have no related allowance. |
Note 3 - Loans - Acquired Loans
Note 3 - Loans - Acquired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Outstanding principal balance | $ 152,863 | $ 163,574 |
Carrying amount | 146,863 | 156,975 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Outstanding principal balance | 22,174 | 24,696 |
Carrying amount | $ 17,633 | $ 19,802 |
Note 3 - Loans - Accretable Yie
Note 3 - Loans - Accretable Yield on Acquired Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | ||
Balance | $ 4,902 | $ 6,513 | |
Accretion | (670) | (5,292) | |
Reclassification from nonaccretable difference | 382 | 2,780 | |
Other changes, net (1) | [1] | (253) | 901 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $ 4,361 | $ 4,902 | |
[1] | This line item represents changes in the cash flows expected to be collected due to the impact of non-credit changes such as prepayment assumptions, changes in interest rates on variable rate acquired impaired loans, and discounted payoffs that occurred in the period. |
Note 3 - Loans - Past Due Loans
Note 3 - Loans - Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | ||
Loans, net of deferred fees and costs | $ 1,988,008 | $ 1,946,580 | [1] | |
90 days past due and still accruing | 71 | 216 | ||
Nonaccrual loans | 1,762 | 2,006 | ||
Loans and Leases Receivable, Net of Deferred Income | 1,988,008 | 1,946,580 | [1] | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Loans, net of deferred fees and costs | 620 | 808 | ||
Loans and Leases Receivable, Net of Deferred Income | 620 | 808 | ||
Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Loans, net of deferred fees and costs | 240 | 50 | ||
Loans and Leases Receivable, Net of Deferred Income | 240 | 50 | ||
Financial Asset, Past Due [Member] | ||||
Loans, net of deferred fees and costs | 2,693 | 3,080 | ||
Loans and Leases Receivable, Net of Deferred Income | 2,693 | 3,080 | ||
Financial Asset, Not Past Due [Member] | ||||
Loans, net of deferred fees and costs | 1,985,315 | 1,943,500 | ||
Loans and Leases Receivable, Net of Deferred Income | 1,985,315 | 1,943,500 | ||
Commercial Portfolio Segment [Member] | ||||
Loans, net of deferred fees and costs | [2] | 291,697 | 299,773 | |
90 days past due and still accruing | 0 | 0 | ||
Nonaccrual loans | 17 | 26 | ||
Loans and Leases Receivable, Net of Deferred Income | [2] | 291,697 | 299,773 | |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Loans, net of deferred fees and costs | 0 | 120 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 120 | ||
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||||
Loans, net of deferred fees and costs | 17 | 146 | ||
Loans and Leases Receivable, Net of Deferred Income | 17 | 146 | ||
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||||
Loans, net of deferred fees and costs | 291,680 | 299,627 | ||
Loans and Leases Receivable, Net of Deferred Income | 291,680 | 299,627 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member] | ||||
Loans, net of deferred fees and costs | 148,276 | 134,221 | ||
90 days past due and still accruing | 0 | 0 | ||
Nonaccrual loans | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 148,276 | 134,221 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 402,306 | 391,517 | ||
90 days past due and still accruing | 0 | 0 | ||
Nonaccrual loans | 4 | 12 | ||
Loans and Leases Receivable, Net of Deferred Income | 402,306 | 391,517 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 752,817 | 731,034 | ||
90 days past due and still accruing | 0 | 0 | ||
Nonaccrual loans | 1,073 | 1,093 | ||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction and Land Development [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction and Land Development [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 240 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 240 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Construction and Land Development [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 4 | 12 | ||
Loans and Leases Receivable, Net of Deferred Income | 4 | 12 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 1,313 | 1,093 | ||
Loans and Leases Receivable, Net of Deferred Income | 1,313 | 1,093 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Construction and Land Development [Member] | ||||
Loans, net of deferred fees and costs | 148,276 | 134,221 | ||
Loans and Leases Receivable, Net of Deferred Income | 148,276 | 134,221 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 402,302 | 391,505 | ||
Loans and Leases Receivable, Net of Deferred Income | 402,302 | 391,505 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 751,504 | 729,941 | ||
Loans and Leases Receivable, Net of Deferred Income | 751,504 | 729,941 | ||
Residential Portfolio Segment [Member] | ||||
Loans, net of deferred fees and costs | 385,542 | 382,960 | ||
Loans and Leases Receivable, Net of Deferred Income | 385,542 | 382,960 | ||
Residential Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans, net of deferred fees and costs | 752,817 | 731,034 | ||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | ||
Residential Portfolio Segment [Member] | Residential [Member] | ||||
Loans, net of deferred fees and costs | 295,949 | 289,757 | ||
90 days past due and still accruing | 0 | 154 | ||
Nonaccrual loans | 581 | 792 | ||
Loans and Leases Receivable, Net of Deferred Income | 295,949 | 289,757 | ||
Residential Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||||
Loans, net of deferred fees and costs | 89,593 | 93,203 | ||
90 days past due and still accruing | 50 | 47 | ||
Nonaccrual loans | 87 | 80 | ||
Loans and Leases Receivable, Net of Deferred Income | 89,593 | 93,203 | ||
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Residential [Member] | ||||
Loans, net of deferred fees and costs | 593 | 670 | ||
Loans and Leases Receivable, Net of Deferred Income | 593 | 670 | ||
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Line of Credit [Member] | ||||
Loans, net of deferred fees and costs | 24 | 12 | ||
Loans and Leases Receivable, Net of Deferred Income | 24 | 12 | ||
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Residential [Member] | ||||
Loans, net of deferred fees and costs | 0 | 20 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 20 | ||
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Line of Credit [Member] | ||||
Loans, net of deferred fees and costs | 0 | 30 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 30 | ||
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential [Member] | ||||
Loans, net of deferred fees and costs | 1,174 | 1,636 | ||
Loans and Leases Receivable, Net of Deferred Income | 1,174 | 1,636 | ||
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Home Equity Line of Credit [Member] | ||||
Loans, net of deferred fees and costs | 161 | 169 | ||
Loans and Leases Receivable, Net of Deferred Income | 161 | 169 | ||
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential [Member] | ||||
Loans, net of deferred fees and costs | 294,775 | 288,121 | ||
Loans and Leases Receivable, Net of Deferred Income | 294,775 | 288,121 | ||
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Home Equity Line of Credit [Member] | ||||
Loans, net of deferred fees and costs | 89,432 | 93,034 | ||
Loans and Leases Receivable, Net of Deferred Income | 89,432 | 93,034 | ||
Consumer Portfolio Segment [Member] | ||||
Loans, net of deferred fees and costs | 7,370 | 7,075 | ||
90 days past due and still accruing | 21 | 15 | ||
Nonaccrual loans | 0 | 3 | ||
Loans and Leases Receivable, Net of Deferred Income | 7,370 | 7,075 | ||
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||||
Loans, net of deferred fees and costs | 3 | 6 | ||
Loans and Leases Receivable, Net of Deferred Income | 3 | 6 | ||
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||||
Loans, net of deferred fees and costs | 0 | 0 | ||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||||
Loans, net of deferred fees and costs | 24 | 24 | ||
Loans and Leases Receivable, Net of Deferred Income | 24 | 24 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||||
Loans, net of deferred fees and costs | 7,346 | 7,051 | ||
Loans and Leases Receivable, Net of Deferred Income | $ 7,346 | $ 7,051 | ||
[1] | Derived from audited consolidated financial statements | |||
[2] | Includes PPP loans, which are guaranteed by the SBA and have no related allowance. |
Note 3 - Loans - Impaired Loan
Note 3 - Loans - Impaired Loan Balances by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Recorded investment, with no related allowance recorded | $ 2,025 | $ 2,232 |
Unpaid principal balance, with no related allowance recorded | 2,025 | 2,233 |
Average recorded investment, with no related allowance recorded | 2,209 | 2,520 |
Interest income recognized, with no related allowance recorded | 7 | 69 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with no related allowance recorded | 0 | 0 |
Unpaid principal balance, with no related allowance recorded | 0 | 0 |
Average recorded investment, with no related allowance recorded | 0 | 4 |
Interest income recognized, with no related allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 10 | 14 |
Unpaid principal balance, with a related allowance recorded | 2 | 7 |
Related allowance | 2 | 7 |
Average recorded investment, with a related allowance recorded | 12 | 25 |
Interest income recognized, with a related allowance recorded | 0 | 1 |
Recorded investment | 10 | 14 |
Unpaid principal balance | 2 | 7 |
Average recorded investment | 12 | 29 |
Interest income recognized | 0 | 1 |
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member] | ||
Recorded investment, with no related allowance recorded | 0 | 0 |
Unpaid principal balance, with no related allowance recorded | 0 | 0 |
Average recorded investment, with no related allowance recorded | 0 | 0 |
Interest income recognized, with no related allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | |
Average recorded investment, with a related allowance recorded | 0 | 0 |
Interest income recognized, with a related allowance recorded | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||
Recorded investment, with no related allowance recorded | 0 | 8 |
Unpaid principal balance, with no related allowance recorded | 0 | 5 |
Average recorded investment, with no related allowance recorded | 8 | 71 |
Interest income recognized, with no related allowance recorded | 0 | 1 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | |
Average recorded investment, with a related allowance recorded | 0 | 0 |
Interest income recognized, with a related allowance recorded | 0 | 0 |
Recorded investment | 0 | 8 |
Unpaid principal balance | 0 | 5 |
Average recorded investment | 8 | 71 |
Interest income recognized | 0 | 1 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||
Recorded investment, with no related allowance recorded | 1,159 | 1,185 |
Unpaid principal balance, with no related allowance recorded | 1,160 | 1,186 |
Average recorded investment, with no related allowance recorded | 1,172 | 1,107 |
Interest income recognized, with no related allowance recorded | 1 | 23 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | |
Average recorded investment, with a related allowance recorded | 0 | 30 |
Interest income recognized, with a related allowance recorded | 0 | 0 |
Recorded investment | 1,159 | 1,185 |
Unpaid principal balance | 1,160 | 1,186 |
Average recorded investment | 1,172 | 1,137 |
Interest income recognized | 1 | 23 |
Residential Portfolio Segment [Member] | Residential [Member] | ||
Recorded investment, with no related allowance recorded | 852 | 1,021 |
Unpaid principal balance, with no related allowance recorded | 859 | 1,031 |
Average recorded investment, with no related allowance recorded | 1,013 | 1,217 |
Interest income recognized, with no related allowance recorded | 6 | 41 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment, with a related allowance recorded | 0 | 61 |
Interest income recognized, with a related allowance recorded | 0 | 2 |
Recorded investment | 852 | 1,021 |
Unpaid principal balance | 859 | 1,031 |
Average recorded investment | 1,013 | 1,278 |
Interest income recognized | 6 | 43 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||
Recorded investment, with no related allowance recorded | 4 | 4 |
Unpaid principal balance, with no related allowance recorded | 4 | 4 |
Average recorded investment, with no related allowance recorded | 4 | 5 |
Interest income recognized, with no related allowance recorded | 0 | 1 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | |
Average recorded investment, with a related allowance recorded | 0 | 0 |
Interest income recognized, with a related allowance recorded | 0 | 0 |
Recorded investment | 4 | 4 |
Unpaid principal balance | 4 | 4 |
Average recorded investment | 4 | 5 |
Interest income recognized | 0 | 1 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no related allowance recorded | 0 | 0 |
Unpaid principal balance, with no related allowance recorded | 0 | 0 |
Average recorded investment, with no related allowance recorded | 0 | 0 |
Interest income recognized, with no related allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related allowance | 0 | |
Average recorded investment, with a related allowance recorded | 0 | 0 |
Interest income recognized, with a related allowance recorded | 0 | 0 |
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | $ 0 | $ 0 |
Note 3 - Loans - Credit Risk Pr
Note 3 - Loans - Credit Risk Profile (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | ||
Loans and Leases Receivable, Net of Deferred Income | $ 1,988,008 | $ 1,946,580 | [1] | |
Commercial Portfolio Segment [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | [2] | 291,697 | 299,773 | |
Commercial Portfolio Segment [Member] | Pass [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 285,407 | 290,823 | ||
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 5,792 | 8,333 | ||
Commercial Portfolio Segment [Member] | Substandard [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 498 | 617 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 148,276 | 134,221 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 402,306 | 391,517 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | ||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction and Land Development [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 147,153 | 130,111 | ||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 385,250 | 372,177 | ||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction and Land Development [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 2,881 | ||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 10,429 | 11,048 | ||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction and Land Development [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 1,123 | 1,229 | ||
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 6,627 | 8,292 | ||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction and Land Development [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Residential Portfolio Segment [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 385,542 | 382,960 | ||
Residential Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | ||
Residential Portfolio Segment [Member] | Residential [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 295,949 | 289,757 | ||
Residential Portfolio Segment [Member] | Home Equity Line of Credit [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 89,593 | 93,203 | ||
Residential Portfolio Segment [Member] | Pass [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 744,789 | 720,138 | ||
Residential Portfolio Segment [Member] | Pass [Member] | Residential [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 292,447 | 285,188 | ||
Residential Portfolio Segment [Member] | Pass [Member] | Home Equity Line of Credit [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 89,220 | 92,807 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 4,355 | 8,702 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | Residential [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 973 | 1,774 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | Home Equity Line of Credit [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Residential Portfolio Segment [Member] | Substandard [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 3,673 | 2,194 | ||
Residential Portfolio Segment [Member] | Substandard [Member] | Residential [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 2,529 | 2,795 | ||
Residential Portfolio Segment [Member] | Substandard [Member] | Home Equity Line of Credit [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 373 | 396 | ||
Residential Portfolio Segment [Member] | Doubtful [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Residential Portfolio Segment [Member] | Doubtful [Member] | Residential [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Residential Portfolio Segment [Member] | Doubtful [Member] | Home Equity Line of Credit [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | ||
Consumer Portfolio Segment [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 7,370 | 7,075 | ||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | 7,370 | 7,057 | ||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||||
Loans and Leases Receivable, Net of Deferred Income | $ 0 | $ 18 | ||
[1] | Derived from audited consolidated financial statements | |||
[2] | Includes PPP loans, which are guaranteed by the SBA and have no related allowance. |
Note 4 - Allowance for Loan L_3
Note 4 - Allowance for Loan Losses and Reserve for Unfunded Lending Commitments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Loans and Leases Receivable, Allowance, Ending Balance | $ 17,988 | $ 18,678 | [1] | $ 21,416 | $ 18,678 | [1] | $ 21,403 |
Financing Receivable, Credit Loss, Expense (Reversal) | (758) | (2,800) | $ 0 | (2,825) | |||
SBA CARES Act Paycheck Protection Program [Member] | |||||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 0 | $ 0 | $ 0 | ||||
[1] | Derived from audited consolidated financial statements |
Note 4 - Allowance for Loan L_4
Note 4 - Allowance for Loan Losses and Reserve for Unfunded Lending Commitments - Changes in Allowance for Loan Losses and Reserve for Unfunded Lending Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2021 | |||||
Balance | $ 18,678 | [1] | $ 21,403 | $ 21,403 | ||||
Financing Receivable, Credit Loss, Expense (Reversal) | (758) | $ (2,800) | 0 | (2,825) | ||||
Charge-offs | (37) | (22) | (146) | |||||
Recoveries | 105 | 35 | 246 | |||||
Balance | 17,988 | 18,678 | [1] | 21,416 | 18,678 | [1] | ||
Provision for (recovery of) unfunded commitments | (758) | (2,800) | 0 | (2,825) | ||||
Individually evaluated for impairment | 2 | 7 | 7 | |||||
Collectively evaluated for impairment | 17,332 | 18,004 | 18,004 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 17,988 | 18,678 | [1] | 21,416 | 18,678 | [1] | ||
Individually evaluated for impairment | 2,025 | 2,232 | 2,232 | |||||
Collectively evaluated for impairment | 1,968,350 | 1,924,546 | 1,924,546 | |||||
Loans and Leases Receivable, Net of Deferred Income | 1,988,008 | 1,946,580 | [1] | 1,946,580 | [1] | |||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | 667 | |||||||
Balance | 654 | 667 | 667 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 654 | 667 | 667 | |||||
Loans and Leases Receivable, Net of Deferred Income | 17,633 | 19,802 | 19,802 | |||||
Unfunded Loan Commitment [Member] | ||||||||
Financing Receivable, Credit Loss, Expense (Reversal) | 26 | (1) | 82 | |||||
Balance | 386 | 304 | 304 | |||||
Provision for (recovery of) unfunded commitments | 26 | (1) | 82 | |||||
Balance | 412 | 386 | 303 | 386 | ||||
Commercial Portfolio Segment [Member] | ||||||||
Balance | [2] | 2,668 | 3,373 | 3,373 | ||||
Financing Receivable, Credit Loss, Expense (Reversal) | (261) | (745) | [2] | |||||
Charge-offs | [2] | (3) | 0 | |||||
Recoveries | [2] | 72 | 40 | |||||
Balance | [2] | 2,476 | 2,668 | 2,668 | ||||
Provision for (recovery of) unfunded commitments | (261) | (745) | [2] | |||||
Individually evaluated for impairment | [2] | 2 | 7 | 7 | ||||
Collectively evaluated for impairment | [2] | 2,455 | 2,642 | 2,642 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | [2] | 2,476 | 2,668 | 2,668 | ||||
Individually evaluated for impairment | [2] | 10 | 14 | 14 | ||||
Collectively evaluated for impairment | [2] | 291,416 | 299,470 | 299,470 | ||||
Loans and Leases Receivable, Net of Deferred Income | [2] | 291,697 | 299,773 | 299,773 | ||||
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | [2] | 19 | ||||||
Balance | [2] | 19 | 19 | 19 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | [2] | 19 | 19 | 19 | ||||
Loans and Leases Receivable, Net of Deferred Income | [2] | 271 | 289 | 289 | ||||
Construction and Land Development [Member] | ||||||||
Balance | 1,397 | 1,927 | 1,927 | |||||
Financing Receivable, Credit Loss, Expense (Reversal) | (16) | (530) | ||||||
Charge-offs | 0 | 0 | ||||||
Recoveries | 0 | 0 | ||||||
Balance | 1,381 | 1,397 | 1,397 | |||||
Provision for (recovery of) unfunded commitments | (16) | (530) | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 1,351 | 1,365 | 1,365 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 1,381 | 1,397 | 1,397 | |||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 148,072 | 133,984 | 133,984 | |||||
Loans and Leases Receivable, Net of Deferred Income | 148,276 | 134,221 | 134,221 | |||||
Construction and Land Development [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | 32 | |||||||
Balance | 30 | 32 | 32 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 30 | 32 | 32 | |||||
Loans and Leases Receivable, Net of Deferred Income | 204 | 237 | 237 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | ||||||||
Balance | 3,964 | 4,340 | 4,340 | |||||
Financing Receivable, Credit Loss, Expense (Reversal) | (327) | (380) | ||||||
Charge-offs | 0 | (3) | ||||||
Recoveries | 2 | 7 | ||||||
Balance | 3,639 | 3,964 | 3,964 | |||||
Provision for (recovery of) unfunded commitments | (327) | (380) | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 3,615 | 3,767 | 3,767 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 3,639 | 3,964 | 3,964 | |||||
Individually evaluated for impairment | 0 | 8 | 8 | |||||
Collectively evaluated for impairment | 393,689 | 382,562 | 382,562 | |||||
Loans and Leases Receivable, Net of Deferred Income | 402,306 | 391,517 | 391,517 | |||||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Commercial Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | 197 | |||||||
Balance | 24 | 197 | 197 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 24 | 197 | 197 | |||||
Loans and Leases Receivable, Net of Deferred Income | 8,617 | 8,947 | 8,947 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||||||
Balance | 7,141 | 7,626 | 7,626 | |||||
Financing Receivable, Credit Loss, Expense (Reversal) | (17) | (493) | ||||||
Charge-offs | 0 | 0 | ||||||
Recoveries | 1 | 8 | ||||||
Balance | 7,125 | 7,141 | 7,141 | |||||
Provision for (recovery of) unfunded commitments | (17) | (493) | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 6,591 | 6,778 | 6,778 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 7,125 | 7,141 | 7,141 | |||||
Individually evaluated for impairment | 1,159 | 1,185 | 1,185 | |||||
Collectively evaluated for impairment | 747,177 | 724,180 | 724,180 | |||||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | 731,034 | |||||
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | 363 | |||||||
Balance | 534 | 363 | 363 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 534 | 363 | 363 | |||||
Loans and Leases Receivable, Net of Deferred Income | 4,481 | 5,669 | 5,669 | |||||
Residential Portfolio Segment [Member] | ||||||||
Balance | 3,458 | 4,067 | 4,067 | |||||
Financing Receivable, Credit Loss, Expense (Reversal) | (142) | (655) | ||||||
Charge-offs | (5) | (53) | ||||||
Recoveries | 4 | 99 | ||||||
Balance | 3,315 | 3,458 | 3,458 | |||||
Provision for (recovery of) unfunded commitments | (142) | (655) | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 3,268 | 3,402 | 3,402 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 3,315 | 3,458 | 3,458 | |||||
Individually evaluated for impairment | 856 | 1,025 | 1,025 | |||||
Collectively evaluated for impairment | 380,647 | 377,290 | 377,290 | |||||
Loans and Leases Receivable, Net of Deferred Income | 385,542 | 382,960 | 382,960 | |||||
Residential Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | 56 | |||||||
Balance | 47 | 56 | 56 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 47 | 56 | 56 | |||||
Loans and Leases Receivable, Net of Deferred Income | 4,039 | 4,645 | 4,645 | |||||
Residential Portfolio Segment [Member] | Non-owner Occupied Commercial Real Estate [Member] | ||||||||
Loans and Leases Receivable, Net of Deferred Income | 752,817 | 731,034 | 731,034 | |||||
Consumer Portfolio Segment [Member] | ||||||||
Balance | 50 | $ 70 | 70 | |||||
Financing Receivable, Credit Loss, Expense (Reversal) | 5 | (22) | ||||||
Charge-offs | (29) | (90) | ||||||
Recoveries | 26 | 92 | ||||||
Balance | 52 | 50 | 50 | |||||
Provision for (recovery of) unfunded commitments | 5 | (22) | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 52 | 50 | 50 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 52 | 50 | 50 | |||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 7,349 | 7,060 | 7,060 | |||||
Loans and Leases Receivable, Net of Deferred Income | 7,370 | 7,075 | 7,075 | |||||
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Balance | 0 | |||||||
Balance | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Net of Deferred Income | $ 21 | $ 15 | $ 15 | |||||
[1] | Derived from audited consolidated financial statements | |||||||
[2] | Includes PPP loans, which are guaranteed by the SBA and have no related allowance. |
Note 5 - Goodwill and Other I_3
Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Apr. 30, 2019 |
Goodwill, Impairment Loss | $ 0 | |
MainStreet BancShares, Inc and HomeTown Bankshares Corporation [Member] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 10,000 | |
Finite-Lived Intangible Asset, Useful Life (Month) | 120 months |
Note 5 - Goodwill and Other I_4
Note 5 - Goodwill and Other Intangible Assets - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Balance, goodwill | [1] | $ 85,048 | |
Balance, intangibles | 4,627 | ||
Amortization, intangibles | (330) | $ (381) | |
Balance, goodwill | 85,048 | $ 85,048 | |
Balance, intangibles | $ 4,297 | ||
[1] | Derived from audited consolidated financial statements |
Note 6 - Leases - Lease Informa
Note 6 - Leases - Lease Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Weighted average remaining lease term (years) (Year) | 6 years 11 months 1 day | 6 years 10 months 24 days |
Weighted average discount rate | 3.07% | 3.09% |
Operating lease cost | $ 267 | $ 269 |
Short-term lease cost | 0 | 1 |
Total lease cost | 267 | 270 |
Cash paid for amounts included in the measurement of lease liabilities | 269 | 251 |
Other Liabilities [Member] | ||
Lease liabilities | 3,928 | 4,023 |
Other Assets [Member] | ||
Right-of-use assets | $ 3,845 | $ 3,939 |
Note 6 - Leases - Maturity of O
Note 6 - Leases - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Nine months ending December 31, 2022 | $ 792 | |
Twelve months ending December 31, 2023 | 963 | |
Twelve months ending December 31, 2024 | 533 | |
Twelve months ending December 31, 2025 | 490 | |
Twelve months ending December 31, 2026 | 279 | |
Twelve months ending December 31, 2027 | 208 | |
Thereafter | 1,143 | |
Total undiscounted cash flows | 4,408 | |
Discount | (480) | |
Other Liabilities [Member] | ||
Lease liabilities | $ 3,928 | $ 4,023 |
Note 7 - Short-term Borrowing_2
Note 7 - Short-term Borrowings (Details Textual) $ in Millions | Mar. 31, 2022USD ($) |
Federal Funds [Member] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 60 |
Note 7 - Short-term Borrowing_3
Note 7 - Short-term Borrowings - Short-term Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Customer repurchase agreements | $ 38,527 | $ 41,128 | [1] |
[1] | Derived from audited consolidated financial statements |
Note 8 - Long-term Borrowings_2
Note 8 - Long-term Borrowings (Details Textual) | Apr. 07, 2006USD ($) | Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) | Jul. 01, 2011USD ($) |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 1,100,000,000 | |||
Long-term Federal Home Loan Bank Advances, Total | 0 | $ 0 | ||
Public Deposit Accounts | 316,400,000 | |||
Number of Consecutive Quarterly Periods for Deferral of Distributions on Trust Preferred Securities, Maximum | 20 | |||
Proceeds from Issuance of Common Stock | $ 619,000 | |||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 20,600,000 | |||
MidCarolina Trusts [Member] | ||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | $ 8,800,000 | |||
Equity Method Investments | 264,000 | |||
AMNB Statutory Trust I [Member] | ||||
Equity Method Investments | 619,000 | |||
MidCarolina Trust I [Member] | ||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Fair Value Adjustment | 596,000 | 610,000 | 1,200,000 | |
MidCarolina Trust II [Member] | ||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Fair Value Adjustment | 530,000 | $ 541,000 | $ 1,000,000 | |
Private Placement [Member] | Wholly-Owned Subsidiary, Unconsolidated [Member] | ||||
Proceeds from Issuance of Trust Preferred Securities | $ 20,000,000 | |||
US States and Political Subdivisions Debt Securities [Member] | ||||
Deposit Liabilities, Collateral Issued, Financial Instruments | $ 114,100,000 | |||
FHLB Line of Credit [Member] | ||||
Debt Instrument, Percentage of Assets | 30.00% | |||
Letters of Credit Outstanding, Amount | $ 270,000,000 |
Note 8 - Long-term Borrowings -
Note 8 - Long-term Borrowings - Junior Subordinated Debt Outstanding Payables (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2021 | Apr. 07, 2006 | |
Principal amount | $ 20,600 | ||
Junior Subordinated Debt [Member] | |||
Principal amount | $ 28,257 | $ 28,232 | |
Junior Subordinated Debt [Member] | AMNB Statutory Trust I [Member] | |||
Principal amount | 20,619 | 20,619 | |
Junior Subordinated Debt [Member] | MidCarolina Trust I [Member] | |||
Principal amount | 4,559 | 4,545 | |
Junior Subordinated Debt [Member] | MidCarolina Trust II [Member] | |||
Principal amount | $ 3,079 | $ 3,068 | |
London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate | 1.35% | ||
London Interbank Offered Rate (LIBOR) [Member] | Junior Subordinated Debt [Member] | MidCarolina Trust I [Member] | |||
Interest rate | 3.45% | ||
London Interbank Offered Rate (LIBOR) [Member] | Junior Subordinated Debt [Member] | MidCarolina Trust II [Member] | |||
Interest rate | 2.95% |
Note 9 - Derivative Financial_3
Note 9 - Derivative Financial Instruments and Hedging Activities - Derivative Financial Instruments (Details) - Cash Flow Hedging [Member] - Interest Rate Swap [Member] $ in Thousands | Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) |
Notional amount | $ 28,500 | $ 28,500 |
Positions | 3 | 3 |
Assets | $ 0 | $ 0 |
Liabilities | 915 | 2,800 |
Cash collateral pledged | $ 2,850 | $ 4,050 |
Note 10 - Stock Based Compens_3
Note 10 - Stock Based Compensation (Details Textual) - USD ($) | Apr. 01, 2019 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | Feb. 20, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 4,150 | 4,150 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 16.63 | $ 16.63 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 87,000 | $ 87,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 0 | 0 | ||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 | $ 0 | ||||
Regular Quarterly Retainer of Vested Restricted Stock | 10,000 | |||||
Monthly Meeting Fees Director Could Receive in Cash | 800 | |||||
Monthly Meeting Fees Director Could Receive in Vested Restricted Stock | 1,000 | |||||
Minimum Aggregate Value of Ownership Required for Board of Directors | 250,000 | 250,000 | ||||
Restricted Stock [Member] | ||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 1,700,000 | $ 1,700,000 | $ 782,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 11 months 15 days | |||||
Share-Based Payment Arrangement, Expense | $ 219,000 | $ 176,000 | ||||
Restricted Stock [Member] | Director [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 163,000 | $ 187,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares) | 4,249 | 6,347 | ||||
Restricted Stock [Member] | Cliff Vested [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 36 months | |||||
Restricted Stock [Member] | Vesting Each Year After Cliff Vesting [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
HomeTown Bankshares Corporation [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 40,753 | |||||
The 2018 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 675,000 |
Note 10 - Stock Based Compens_4
Note 10 - Stock Based Compensation - Nonvested Restricted Stock Activity (Details) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2022$ / sharesshares | |
Nonvested, shares (in shares) | shares | 58,461 |
Nonvested, weighted average grant date value per share (in dollars per share) | $ / shares | $ 31.91 |
Granted, shares (in shares) | shares | 31,232 |
Granted, weighted average grant date value per share (in dollars per share) | $ / shares | $ 38.06 |
Vested, shares (in shares) | shares | (12,575) |
Vested, weighted average grant date value per share (in dollars per share) | $ / shares | $ 32.06 |
Forfeited, shares (in shares) | shares | (274) |
Forfeited, weighted average grant date value per share (in dollars per share) | $ / shares | $ 31.63 |
Nonvested, shares (in shares) | shares | 76,844 |
Nonvested, weighted average grant date value per share (in dollars per share) | $ / shares | $ 34.39 |
Note 11 - Earnings Per Common_3
Note 11 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 0 |
Note 11 - Earnings Per Common_4
Note 11 - Earnings Per Common Share - Earnings Per Common Share (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Basic earnings per share (in shares) | 10,754,287 | 10,971,466 |
Basic earnings per share (in dollars per share) | $ 0.84 | $ 1.03 |
Effect of dilutive securities - stock options (in shares) | 2,615 | 4,711 |
Effect of dilutive securities - stock options (in dollars per share) | $ 0 | $ 0 |
Diluted earnings per share (in shares) | 10,756,902 | 10,976,177 |
Diluted earnings per share (in dollars per share) | $ 0.84 | $ 1.03 |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Securities available for sale | $ 686,176 | $ 692,467 | [1] |
US Treasury Securities [Member] | |||
Securities available for sale | 144,835 | 149,577 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Securities available for sale | 103,847 | 104,580 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available for sale | 65,677 | 66,472 | |
Corporate Debt Securities [Member] | |||
Securities available for sale | 28,829 | 15,528 | |
Fair Value, Recurring [Member] | |||
Securities available for sale | 686,176 | 692,467 | |
Loans held for sale | 2,524 | 8,481 | |
Fair Value, Recurring [Member] | Cash Flow Hedging [Member] | |||
Derivative - cash flow hedges | 915 | 2,800 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Flow Hedging [Member] | |||
Derivative - cash flow hedges | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 686,176 | 692,467 | |
Loans held for sale | 2,524 | 8,481 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Flow Hedging [Member] | |||
Derivative - cash flow hedges | 915 | 2,800 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Flow Hedging [Member] | |||
Derivative - cash flow hedges | 0 | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Securities available for sale | 144,835 | 149,577 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 144,835 | 149,577 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Securities available for sale | 103,847 | 104,580 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 103,847 | 104,580 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | |||
Securities available for sale | 342,988 | 356,310 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 342,988 | 356,310 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Securities available for sale | 65,677 | 66,472 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 65,677 | 66,472 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Securities available for sale | 28,829 | 15,528 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 28,829 | 15,528 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | $ 0 | $ 0 | |
[1] | Derived from audited consolidated financial statements |
Note 12 - Fair Value Measurem_4
Note 12 - Fair Value Measurements - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Impaired loans, net of valuation allowance | $ 8 | $ 7 |
Other real estate owned, net | 143 | 143 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans, net of valuation allowance | 0 | 0 |
Other real estate owned, net | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans, net of valuation allowance | 0 | 0 |
Other real estate owned, net | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans, net of valuation allowance | 8 | 7 |
Other real estate owned, net | $ 143 | $ 143 |
Note 12 - Fair Value Measurem_5
Note 12 - Fair Value Measurements - Quantitative Information About Level 3 Fair Value Measurements (Details) - Fair Value, Inputs, Level 3 [Member] - Valuation Technique, Discounted Appraisal Value [Member] - Measurement Input, Cost to Sell [Member] | Mar. 31, 2022 | [1] |
Impaired loans | 0.0800 | |
Other real estate owned, net | 0.0800 | |
[1] | Unobservable inputs were weighted by the relative fair value of the impaired loans. |
Note 12 - Fair Value Measurem_6
Note 12 - Fair Value Measurements - Carrying and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | |
Securities available for sale | $ 686,176 | $ 692,467 | [1] |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 487,068 | 510,868 | |
Securities available for sale | 686,176 | 692,467 | |
Restricted stock | 8,484 | 8,056 | |
Loans held for sale | 2,524 | 8,481 | |
Loans, net of allowance | 1,970,020 | 1,927,902 | |
Bank owned life insurance | 29,159 | 29,107 | |
Accrued interest receivable | 5,731 | 5,822 | |
Deposits | 2,926,207 | 2,890,353 | |
Repurchase agreements | 38,527 | 41,128 | |
Accrued interest payable | 341 | 392 | |
Derivative - cash flow hedges | 915 | 2,800 | |
Reported Value Measurement [Member] | Junior Subordinated Debt [Member] | |||
Junior subordinated debt | 28,257 | 28,232 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 487,068 | 510,868 | |
Securities available for sale | 686,176 | 692,467 | |
Restricted stock | 8,484 | 8,056 | |
Loans held for sale | 2,524 | 8,481 | |
Loans, net of allowance | 1,956,996 | 1,914,887 | |
Bank owned life insurance | 29,159 | 29,107 | |
Accrued interest receivable | 5,731 | 5,822 | |
Deposits | 2,927,690 | 2,892,487 | |
Repurchase agreements | 38,527 | 41,128 | |
Accrued interest payable | 341 | 392 | |
Derivative - cash flow hedges | 915 | 2,800 | |
Estimate of Fair Value Measurement [Member] | Junior Subordinated Debt [Member] | |||
Junior subordinated debt | 28,029 | 26,635 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 487,068 | 510,868 | |
Securities available for sale | 0 | 0 | |
Restricted stock | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans, net of allowance | 0 | 0 | |
Bank owned life insurance | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Deposits | 0 | 0 | |
Repurchase agreements | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Derivative - cash flow hedges | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Junior Subordinated Debt [Member] | |||
Junior subordinated debt | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Securities available for sale | 686,176 | 692,467 | |
Restricted stock | 8,484 | 8,056 | |
Loans held for sale | 2,524 | 8,481 | |
Loans, net of allowance | 0 | 0 | |
Bank owned life insurance | 29,159 | 29,107 | |
Accrued interest receivable | 5,731 | 5,822 | |
Deposits | 2,927,690 | 2,892,487 | |
Repurchase agreements | 38,527 | 41,128 | |
Accrued interest payable | 341 | 392 | |
Derivative - cash flow hedges | 915 | 2,800 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Junior Subordinated Debt [Member] | |||
Junior subordinated debt | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Securities available for sale | 0 | 0 | |
Restricted stock | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans, net of allowance | 1,956,996 | 1,914,887 | |
Bank owned life insurance | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Deposits | 0 | 0 | |
Repurchase agreements | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Derivative - cash flow hedges | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Junior Subordinated Debt [Member] | |||
Junior subordinated debt | $ 28,029 | $ 26,635 | |
[1] | Derived from audited consolidated financial statements |
Note 13 - Segment and Related_3
Note 13 - Segment and Related Information (Details Textual) | 3 Months Ended |
Mar. 31, 2022 | |
Number of Reportable Segments | 2 |
Note 13 - Segment and Related_4
Note 13 - Segment and Related Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | [1] | |
Interest income | $ 21,407 | $ 24,204 | ||
Interest expense | 954 | 1,781 | ||
Noninterest income | 5,600 | 5,922 | ||
Noninterest expense | 15,349 | 14,065 | ||
Income before income taxes | 11,462 | 14,280 | ||
Net income | 8,999 | 11,289 | ||
Depreciation and amortization | 877 | 961 | ||
Total assets | 3,346,238 | 3,073,432 | $ 3,334,597 | |
Goodwill | 85,048 | 85,048 | $ 85,048 | |
Capital expenditures | 366 | 246 | ||
Community Banking [Member] | Operating Segments [Member] | ||||
Interest income | 21,407 | 24,204 | ||
Interest expense | 954 | 1,781 | ||
Noninterest income | 3,791 | 4,498 | ||
Noninterest expense | 14,656 | 13,401 | ||
Income before income taxes | 10,346 | 13,520 | ||
Net income | 8,123 | 10,688 | ||
Depreciation and amortization | 875 | 958 | ||
Total assets | 3,345,962 | 3,073,188 | ||
Goodwill | 85,048 | 85,048 | ||
Capital expenditures | 366 | 246 | ||
Trust and Investment Services [Member] | Operating Segments [Member] | ||||
Interest income | 0 | 0 | ||
Interest expense | 0 | 0 | ||
Noninterest income | 1,809 | 1,424 | ||
Noninterest expense | 693 | 664 | ||
Income before income taxes | 1,116 | 760 | ||
Net income | 876 | 601 | ||
Depreciation and amortization | 2 | 3 | ||
Total assets | 276 | 244 | ||
Goodwill | 0 | 0 | ||
Capital expenditures | $ 0 | $ 0 | ||
[1] | Derived from audited consolidated financial statements |
Note 14 - Supplemental Cash F_3
Note 14 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | [1] | |
Cash and due from banks | $ 34,506 | $ 33,266 | $ 23,095 | |
Interest-bearing deposits in other banks | 452,562 | 383,984 | $ 487,773 | |
Cash and Cash Equivalents | 487,068 | 417,250 | ||
Interest on deposits and borrowed funds | 995 | 2,016 | ||
Income taxes | 0 | (1,205) | ||
Net unrealized losses on securities available for sale | (30,861) | (5,882) | ||
Net unrealized gains on cash flow hedges | $ 1,885 | $ 1,781 | ||
[1] | Derived from audited consolidated financial statements |
Note 15 - Accumulated Other C_3
Note 15 - Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Balance | $ 354,792 | [1] | $ 337,894 |
Balance | 335,074 | 341,793 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | |||
Balance | (1,701) | 7,920 | |
Net unrealized gains (losses) on securities available for sale, net of tax | (24,199) | (4,611) | |
Net unrealized gains on cash flow hedges, net of tax | 0 | 0 | |
Balance | (25,900) | 3,309 | |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | |||
Balance | (2,212) | (3,846) | |
Net unrealized gains (losses) on securities available for sale, net of tax | 0 | 0 | |
Net unrealized gains on cash flow hedges, net of tax | 1,489 | 1,407 | |
Balance | (723) | (2,439) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance | (1,162) | (1,637) | |
Net unrealized gains (losses) on securities available for sale, net of tax | 0 | 0 | |
Net unrealized gains on cash flow hedges, net of tax | 0 | 0 | |
Balance | (1,162) | (1,637) | |
AOCI Attributable to Parent [Member] | |||
Balance | (5,075) | 2,437 | |
Net unrealized gains (losses) on securities available for sale, net of tax | (24,199) | (4,611) | |
Net unrealized gains on cash flow hedges, net of tax | 1,489 | 1,407 | |
Balance | $ (27,785) | $ (767) | |
[1] | Derived from audited consolidated financial statements |
Note 15 - Accumulated Other C_4
Note 15 - Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Details) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Net unrealized gains (losses) on securities available for sale, tax | $ 6,662 | |
Net unrealized gains on cash flow hedges, tax | $ 396 | $ 374 |
AOCI Attributable to Parent [Member] | ||
Net unrealized gains (losses) on securities available for sale, tax | 1,271 | |
Net unrealized gains on cash flow hedges, tax | $ 374 |