Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000770460 | |
Entity Registrant Name | PEOPLES FINANCIAL CORP /MS/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-12103 | |
Entity Incorporation, State or Country Code | MS | |
Entity Tax Identification Number | 64-0709834 | |
Entity Address, Address Line One | Lameuse and Howard Avenues | |
Entity Address, City or Town | Biloxi | |
Entity Address, State or Province | MS | |
Entity Address, Postal Zip Code | 39533 | |
City Area Code | 228 | |
Local Phone Number | 435-5511 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 15,000,000 |
Consolidated Statements of Cond
Consolidated Statements of Condition (Current Period Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 17,465,000 | $ 49,991,000 |
Available for sale securities | 411,304,000 | 376,803,000 |
Held to maturity securities, fair value of $164,736 at September 30, 2022; $111,340 at December 31, 2021 | 178,897,000 | 110,208,000 |
Other investments | 350,000 | 350,000 |
Federal Home Loan Bank Stock, at cost | 2,160,000 | 2,153,000 |
Loans | 233,387,000 | 239,162,000 |
Less: Allowance for loan losses | 3,362,000 | 3,311,000 |
Loans, net | 230,025,000 | 235,851,000 |
Bank premises and equipment, net of accumulated depreciation | 16,311,000 | 15,799,000 |
Other real estate | 334,000 | 1,891,000 |
Accrued interest receivable | 3,205,000 | 2,841,000 |
Cash surrender value of life insurance | 20,635,000 | 20,150,000 |
Intangible asset | 616,000 | |
Other assets | 816,000 | 722,000 |
Total assets | 882,118,000 | 816,759,000 |
Deposits: | ||
Demand, non-interest bearing | 221,758,000 | 193,473,000 |
Savings and demand, interest bearing | 541,218,000 | 428,411,000 |
Time, $250,000 or more | 8,756,000 | 43,613,000 |
Other time deposits | 36,790,000 | 39,341,000 |
Total deposits | 808,522,000 | 704,838,000 |
Borrowings from Federal Home Loan Bank | 5,000,000 | 889,000 |
Employee and director benefit plans liabilities | 19,792,000 | 19,332,000 |
Other liabilities | 1,138,000 | 2,162,000 |
Total liabilities | 834,452,000 | 727,221,000 |
Shareholders' Equity: | ||
Common stock, $1 par value, 15,000,000 shares authorized, 4,678,186 shares issued and outstanding at September 30, 2022 and December 31, 2021 | 4,678,000 | 4,678,000 |
Surplus | 65,780,000 | 65,780,000 |
Undivided profits | 24,181,000 | 20,911,000 |
Accumulated other comprehensive loss, net of tax | (46,973,000) | (1,831,000) |
Total shareholders' equity | 47,666,000 | 89,538,000 |
Total liabilities and shareholders' equity | $ 882,118,000 | $ 816,759,000 |
Consolidated Statements of Co_2
Consolidated Statements of Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Held to maturity securities, fair value | $ 164,736 | $ 111,340 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 15,000,000 | 15,000,000 |
Common stock, shares issued (in shares) | 4,678,186 | 4,678,186 |
Common stock, shares outstanding (in shares) | 4,678,186 | 4,678,186 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Interest income: | ||||
Interest and fees on loans | $ 2,786 | $ 3,156 | $ 8,156 | $ 9,485 |
Interest and dividends on securities: | ||||
U.S. Treasuries | 1,158 | 199 | 1,996 | 436 |
U.S. Government agencies | 26 | 77 | ||
Mortgage-backed securities | 651 | 504 | 1,735 | 1,531 |
States and political subdivisions | 1,133 | 1,031 | 3,447 | 2,745 |
Collateralized mortgage obligations | 568 | 235 | 1,202 | 595 |
Other investments | 6 | 5 | 9 | 7 |
Interest on balances due from depository institutions | 162 | 28 | 317 | 84 |
Total interest income | 6,464 | 5,184 | 16,862 | 14,960 |
Interest expense: | ||||
Deposits | 742 | 149 | 1,155 | 670 |
Borrowings from Federal Home Loan Bank | 59 | 6 | 71 | 18 |
Total interest expense | 801 | 155 | 1,226 | 688 |
Net interest income | 5,663 | 5,029 | 15,636 | 14,272 |
Provision for (reduction of) allowance for loan losses | 27 | (173) | 80 | (5,004) |
Net interest income after provision for (reduction of) allowance for loan losses | 5,636 | 5,202 | 15,556 | 19,276 |
Non-interest income: | ||||
Gain on liquidation, sales and calls of securities | 5 | |||
Increase in cash surrender value of life insurance | 128 | 108 | 362 | 323 |
Other income | 335 | 160 | 579 | 450 |
Total non-interest income | 1,797 | 1,663 | 4,989 | 4,848 |
Non-interest expense: | ||||
Salaries and employee benefits | 3,017 | 2,632 | 8,419 | 7,768 |
Net occupancy | 383 | 540 | 1,328 | 1,443 |
Equipment rentals, depreciation and maintenance | 786 | 746 | 2,340 | 2,281 |
FDIC and state banking assessments | 169 | 119 | 368 | 315 |
Data processing | 377 | 345 | 1,082 | 1,053 |
ATM expense | 256 | 251 | 902 | 802 |
Other real estate expense | 61 | 100 | 122 | 383 |
Loss from other investments | 60 | 146 | ||
Other expense | 635 | 761 | 2,293 | 3,503 |
Total non-interest expense | 5,684 | 5,554 | 16,854 | 17,694 |
Income before income taxes | 1,749 | 1,311 | 3,691 | 6,430 |
Income tax | 204 | 204 | ||
Net income | $ 1,749 | $ 1,107 | $ 3,691 | $ 6,226 |
Basic and diluted earnings per share (in dollars per share) | $ 37 | $ 23 | $ 79 | $ 1.28 |
Dividends declared per share (in dollars per share) | $ 0.09 | $ 0.10 | ||
Trust Department Income and Fees [Member] | ||||
Non-interest income: | ||||
Revenue from contract with customer | $ 420 | $ 487 | $ 1,280 | $ 1,387 |
Service Charges on Deposit Accounts [Member] | ||||
Non-interest income: | ||||
Revenue from contract with customer | $ 914 | $ 908 | $ 2,768 | $ 2,683 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income | $ 1,749 | $ 1,107 | $ 3,691 | $ 6,226 |
Other comprehensive income (loss): | ||||
Net unrealized (loss) gain on available for sale securities | (10,043) | (817) | (45,142) | (4,127) |
Reclassification adjustment for realized gain on available for sale securities called or sold | (5) | |||
Total other comprehensive (loss) income | (10,043) | (817) | (45,142) | (4,132) |
Total comprehensive (loss) income | $ (8,294) | $ 290 | $ (41,451) | $ 2,094 |
Consolidated Statement of Chang
Consolidated Statement 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 (in shares) at Dec. 31, 2020 | 4,878,557 | ||||
Beginning balance total shareholders' equity at Dec. 31, 2020 | $ 4,879 | $ 65,780 | $ 16,225 | $ 5,872 | $ 92,756 |
Net income | 4,330 | 4,330 | |||
Other comprehensive income (loss) | (4,248) | (4,248) | |||
Dividend | (488) | (488) | |||
Ending balance total shareholders' equity at Mar. 31, 2021 | $ 4,879 | 65,780 | 20,067 | 1,624 | 92,350 |
Balance (in shares) at Mar. 31, 2021 | 4,878,557 | ||||
Balance (in shares) at Dec. 31, 2020 | 4,878,557 | ||||
Beginning balance total shareholders' equity at Dec. 31, 2020 | $ 4,879 | 65,780 | 16,225 | 5,872 | 92,756 |
Net income | 6,226 | ||||
Other comprehensive income (loss) | (4,132) | ||||
Ending balance total shareholders' equity at Sep. 30, 2021 | $ 4,879 | 65,780 | 21,963 | 1,740 | 94,362 |
Balance (in shares) at Sep. 30, 2021 | 4,878,557 | ||||
Balance (in shares) at Mar. 31, 2021 | 4,878,557 | ||||
Beginning balance total shareholders' equity at Mar. 31, 2021 | $ 4,879 | 65,780 | 20,067 | 1,624 | 92,350 |
Net income | 789 | 789 | |||
Other comprehensive income (loss) | 933 | 933 | |||
Ending balance total shareholders' equity at Jun. 30, 2021 | $ 4,879 | 65,780 | 20,856 | 2,557 | 94,072 |
Balance (in shares) at Jun. 30, 2021 | 4,878,557 | ||||
Net income | 1,107 | 1,107 | |||
Other comprehensive income (loss) | (817) | (817) | |||
Ending balance total shareholders' equity at Sep. 30, 2021 | $ 4,879 | 65,780 | 21,963 | 1,740 | 94,362 |
Balance (in shares) at Sep. 30, 2021 | 4,878,557 | ||||
Balance (in shares) at Dec. 31, 2021 | 4,678,186 | ||||
Beginning balance total shareholders' equity at Dec. 31, 2021 | $ 4,678 | 65,780 | 20,911 | (1,831) | 89,538 |
Net income | 887 | 887 | |||
Other comprehensive income (loss) | (19,334) | (19,334) | |||
Dividend | (421) | (421) | |||
Ending balance total shareholders' equity at Mar. 31, 2022 | $ 4,678 | 65,780 | 21,377 | (21,165) | 70,670 |
Balance (in shares) at Mar. 31, 2022 | 4,678,186 | ||||
Balance (in shares) at Dec. 31, 2021 | 4,678,186 | ||||
Beginning balance total shareholders' equity at Dec. 31, 2021 | $ 4,678 | 65,780 | 20,911 | (1,831) | 89,538 |
Net income | 3,691 | ||||
Other comprehensive income (loss) | (45,142) | ||||
Ending balance total shareholders' equity at Sep. 30, 2022 | $ 4,678 | 65,780 | 24,181 | (46,973) | 47,666 |
Balance (in shares) at Sep. 30, 2022 | 4,678,186 | ||||
Balance (in shares) at Mar. 31, 2022 | 4,678,186 | ||||
Beginning balance total shareholders' equity at Mar. 31, 2022 | $ 4,678 | 65,780 | 21,377 | (21,165) | 70,670 |
Net income | 1,055 | 1,055 | |||
Other comprehensive income (loss) | (15,765) | (15,765) | |||
Ending balance total shareholders' equity at Jun. 30, 2022 | $ 4,678 | 65,780 | 22,432 | (36,930) | 55,960 |
Balance (in shares) at Jun. 30, 2022 | 4,678,186 | ||||
Net income | 1,749 | 1,749 | |||
Other comprehensive income (loss) | (10,043) | (10,043) | |||
Ending balance total shareholders' equity at Sep. 30, 2022 | $ 4,678 | $ 65,780 | $ 24,181 | $ (46,973) | $ 47,666 |
Balance (in shares) at Sep. 30, 2022 | 4,678,186 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Cash dividend, per share (in dollars per share) | $ 0.09 | $ 0.10 | $ 0.09 | $ 0.10 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 3,691 | $ 6,226 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 1,380 | 1,368 |
Provision for (reduction of) allowance for loan losses | 80 | (5,004) |
Writedown of other real estate | 155 | 299 |
(Gain) loss on sales of other real estate | (87) | 1 |
Loss from other investments | 146 | |
Amortization of intangible asset | 5 | |
Amortization of held to maturity securities | 185 | 311 |
Amortization of available for sale securities | 60 | 210 |
Gain on sales and calls of securities | (5) | |
Change in accrued interest receivable | (364) | (661) |
Increase in cash surrender value of life insurance | (362) | (323) |
Change in other assets | (94) | 101 |
Change in employee and director benefit plan liabilities and other liabilities | (564) | 231 |
Net cash provided by operating activities | 4,085 | 2,900 |
Cash flows from investing activities: | ||
Proceeds from maturities, sales and calls of available for sale securities | 29,129 | 45,769 |
Proceeds from maturities of held to maturity securities | 10,387 | 3,852 |
Purchases of available for sale securities | (108,833) | (224,142) |
Purchases of held to maturity securities | (79,261) | (39,038) |
Purchases of Federal Home Loan Bank stock | (7) | (3) |
Proceeds from sales of other real estate | 1,489 | 664 |
Purchase of intangible asset | (621) | |
Loans, net change | 5,746 | 31,910 |
Acquisition of bank premises and equipment | (1,891) | (1,361) |
Investment in cash surrender value of life insurance | (123) | (96) |
Net cash used in investing activities | (143,985) | (182,445) |
Cash flows from financing activities: | ||
Demand and savings deposits, net change | 141,092 | 132,253 |
Time deposits, net change | (37,408) | 23,269 |
Borrowings from Federal Home Loan Bank | 208,500 | 22 |
Repayments to Federal Home Loan Bank | (204,389) | (88) |
Cash dividends paid | (421) | (488) |
Net cash provided by financing activities | 107,374 | 154,968 |
Net (decrease) in cash and cash equivalents | (32,526) | (24,577) |
Cash and cash equivalents, beginning of period | 49,991 | 91,542 |
Cash and cash equivalents, end of period | $ 17,465 | $ 66,965 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Peoples Financial Corporation (the “Company”) is a one two fifty three The accompanying unaudited consolidated financial statements and notes thereto contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly, in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the financial position of the Company and its subsidiaries as of September 30, 2022 2021 10 The results of operations for the periods ended September 30, 2022, not Use of Estimates - The preparation of financial statements in conformity with 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 reported period. Actual results could differ from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not Summary of Significant Accounting Policies - The accounting and reporting policies of the Company conform to GAAP and general practices within the banking industry. There have been no 10 December 31, 2021. Revision of Prior Period Financial Statements – Other investments includes a low income housing partnership in which the Company is a 99% limited partner (the “Investment”). After the Annual Report on Form 10 March 25, 2022, 323, third 2012 2018. The aggregate amount of the errors at each period end represented 3% or less of our shareholders' equity in all prior periods. In accordance with the guidance set forth in SEC Staff Accounting Bulletin 99, 108, not 10 three nine September 30, 2022 The Income Statements presented have not A summary of revisions to certain previously reported financial information is presented below: Revised Consolidated Statements of Condition as of December 31, 2021 ( As Reported Adjustment As Revised Other investments $ 2,404 $ (2,054 ) $ 350 Total assets 818,813 (2,054 ) 816,759 Undivided profits 22,965 (2,054 ) 20,911 Total shareholders' equity 91,592 (2,054 ) 89,538 Revised Consolidated Statements of Shareholders’ Equity for the nine September 30, 2021 ( Nine Months Ended September 30, 2021 As Reported Adjustment As Revised Beginning balance undivided profits $ 18,335 $ (2,110 ) $ 16,225 Beginning balance total shareholders' equity 94,866 (2,110 ) 92,756 Ending balance undivided profits 24,073 (2,110 ) 21,963 Ending balance total shareholders' equity 96,472 (2,110 ) 94,362 Accounting Standards Update –In March 2022, 2022 02 2022 02” Financial Instruments-Credit Losses (Topic 326 ASU 2022 02 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2022, not |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 2. Per share data is based on the weighted average shares of common stock outstanding of 4,678,186 and 4,878,557 for the nine September 30, 2022 2021, September 30, 2022 2021, |
Note 3 - Statements of Cash Flo
Note 3 - Statements of Cash Flows | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 3. The Company has defined cash and cash equivalents as cash and due from banks. The Company paid $1,227,261 and $697,154 for the nine September 30, 2022 2021, nine September 30, 2022. nine September 30, 2021. nine September 30, 2022 2021. |
Note 4 - Investments
Note 4 - Investments | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. The amortized cost and fair value of securities at September 30, 2022 December 31, 2021, Gross Gross Unrealized Unrealized September 30, 2022 Amortized Cost Gains Losses Fair Value Available for sale securities: Debt securities: U.S. Treasuries $ 173,442 $ $ (11,300 ) $ 162,142 Mortgage-backed securities 63,137 55 (4,905 ) 58,287 Collateralized mortgage obligations 119,191 (7,609 ) 111,582 States and political subdivisions 102,834 (23,541 ) 79,293 Total available for sale securities $ 458,604 $ 55 $ (47,355 ) $ 411,304 Held to maturity securities: U.S. Treasuries $ 74,460 $ $ (1,425 ) $ 73,035 States and political subdivisions 104,437 (12,736 ) 91,701 Total held to maturity securities $ 178,897 $ $ (14,161 ) $ 164,736 Gross Gross Unrealized Unrealized December 31, 2021 Amortized Cost Gains Losses Fair Value Available for sale securities: U.S. Treasuries $ 73,889 $ $ (735 ) $ 73,154 Mortgage-backed securities 71,187 1,236 (441 ) 71,982 Collateralized mortgage obligations 130,181 841 (1,035 ) $ 129,987 States and political subdivisions 103,704 293 (2,317 ) 101,680 Total available for sale securities $ 378,961 $ 2,370 $ (4,528 ) $ 376,803 Held to maturity securities: States and political subdivisions $ 110,208 $ 1,760 $ (628 ) $ 111,340 Total held to maturity securities $ 110,208 $ 1,760 $ (628 ) $ 111,340 The amortized cost and fair value of debt securities at September 30, 2022 ( may Amortized Cost Fair Value Available for sale securities: Due in one year or less $ 80,047 $ 79,772 Due after one year through five years 20,241 19,462 Due after five years through ten years 109,245 92,093 Due after ten years 66,743 50,109 Mortgage-backed securities 63,137 58,286 Collaterized mortgage obligations 119,191 111,582 Totals $ 458,604 $ 411,304 Held to maturity securities: Due in one year or less $ 44,926 $ 44,795 Due after one year through five years 51,206 49,543 Due after five years through ten years 41,772 37,065 Due after ten years 40,993 33,333 Totals $ 178,897 $ 164,736 Available for sale and held to maturity securities with gross unrealized losses at September 30, 2022 December 31, 2021 Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses September 30, 2022: U.S. Treasuries $ 209,793 $ 8,284 $ 25,385 $ 4,441 $ 235,178 $ 12,725 Mortgage-backed securities 39,499 2,660 7,991 2,245 47,490 4,905 Collateralized mortgage obligations 71,435 3,025 40,148 4,584 111,583 7,609 States and political subdivisions 85,819 15,674 69,354 20,603 155,173 36,277 TOTAL $ 406,546 $ 29,643 $ 142,878 $ 31,873 $ 549,424 $ 61,516 December 31, 2021: U.S. Treasuries $ 73,154 $ 735 $ $ $ 73,154 $ 735 Mortgage-backed securities 26,288 441 26,288 441 Collateralized mortgage obligations 66,369 1,035 66,369 1,035 States and political subdivisions 102,413 2,577 7,470 368 109,883 2,945 TOTAL $ 268,224 $ 4,788 $ 7,470 $ 368 $ 275,694 $ 5,156 At September 30, 2022, Management evaluates securities for other-than-temporary impairment on a monthly basis. In performing this evaluation, the length of time and the extent to which the fair value has been less than cost, the fact that the Company’s securities are primarily issued by U.S. Treasury and U.S. Government Agencies and the cause of the decline in value are considered. In addition, the Company does not not not not There were no sales of available for sale debt securities for the nine September 30, 2022 September 30, 2021. Securities with a fair value of $391,051,276 and $229,092,900 at September 30, 2022 December 31, 2021, |
Note 5 - Loans
Note 5 - Loans | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. The composition of the loan portfolio at September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021 Gaming $ 9,941 $ 7,900 Hotel/motel 35,268 50,765 Real estate, construction 29,421 27,191 Real estate, mortgage 141,129 128,352 Commercial and industrial 9,794 15,882 Other 7,834 9,072 Total $ 233,387 $ 239,162 On March 27, 2020, 19, September 30, 2022, December 31, 2021, The age analysis of the loan portfolio, segregated by class of loans, as of September 30, 2022 December 31, 2021, Loans Past Due Greater Number of Days Past Due Than 90 Greater Total Total Days & 30 59 60 89 Than 90 Past Due Current Loans Still Accruing September 30, 2022: Gaming $ $ $ $ $ 9,941 $ 9,941 $ Hotel/motel 35,268 35,268 Real estate, construction 2,743 2,743 26,678 29,421 Real estate, mortgage 19 1,294 278 1,591 139,538 141,129 Commercial and industrial 211 211 9,583 9,794 Other 24 1 25 7,809 7,834 Total $ 2,997 $ 1,295 $ 278 $ 4,570 $ 228,817 $ 233,387 $ December 31, 2021: Gaming $ $ $ $ $ 7,900 $ 7,900 $ Hotel/motel 50,765 50,765 Real estate, construction 105 105 27,086 27,191 Real estate, mortgage 1,996 60 63 2,119 126,233 128,352 Commercial and industrial 21 320 341 15,541 15,882 Other 209 209 8,863 9,072 Total $ 2,331 $ 380 $ 63 $ 2,774 $ 236,388 $ 239,162 $ The Company monitors the credit quality of its loan portfolio through the use of a loan grading system. A score of 1 5 no 60 89 90 not may An analysis of the loan portfolio by loan grade, segregated by class of loans, as of September 30, 2022 December 31, 2021, Loans With A Grade Of: A, B or C S D E F Total September 30, 2022: Gaming $ 9,941 $ $ $ $ $ 9,941 Hotel/motel 35,268 35,268 Real estate, construction 29,247 2 172 29,421 Real estate, mortgage 138,104 79 2,535 411 141,129 Commercial and industrial 9,794 9,794 Other 7,817 17 7,834 Total $ 230,171 $ 79 $ 2,554 $ 583 $ $ 233,387 December 31, 2021: Gaming $ 7,900 $ $ $ $ $ 7,900 Hotel/motel 50,765 50,765 Real estate, construction 26,980 6 205 27,191 Real estate, mortgage 124,289 87 3,344 632 128,352 Commercial and industrial 15,834 27 21 15,882 Other 9,060 12 9,072 Total $ 234,828 $ 87 $ 3,389 $ 858 $ $ 239,162 A loan may not September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021 Real estate, construction $ 133 $ 138 Real estate, mortgage 373 563 Total $ 506 $ 701 Prior to 2021, 2021 2022, not September 30, 2022 December 31, 2021, September 30, 2022 December 31, 2021. Impaired loans, which include loans classified as nonaccrual and troubled debt restructurings, segregated by class of loans, as of September 30, 2022 December 31, 2021, Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized September 30, 2022: With no related allowance recorded: Real estate, construction $ 244 $ 172 $ $ 185 $ 5 Real estate, mortgage 989 795 877 17 Total 1,233 967 1,062 22 With a related allowance recorded: Real estate, construction 57 50 40 50 Total 57 50 40 50 Total by class of loans: Real estate, construction 301 222 40 235 5 Real estate, mortgage 989 795 877 17 Total $ 1,290 $ 1,017 $ 40 $ 1,112 $ 22 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2021: With no related allowance recorded: Real estate, construction $ 272 $ 205 $ $ 369 $ 7 Real estate, mortgage 1,014 1,014 1,075 21 Total 1,286 1,219 1,444 28 With a related allowance recorded: Real estate, mortgage 199 199 70 203 5 Total 199 199 70 203 5 Total by class of loans: Real estate, construction 272 205 369 7 Real estate, mortgage 1,213 1,213 70 1,278 26 Total $ 1,485 $ 1,418 $ 70 $ 1,647 $ 33 |
Note 6 - Allowance for Loan Los
Note 6 - Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | 6. Transactions in the allowance for loan losses for the quarters and nine September 30, 2022 2021, September 30, 2022 2021, Gaming Hotel/Motel Real Estate, Construction Real Estate, Mortgage Commercial and Industrial Other Total For the Nine Months Ended September 30, 2022: Allowance for Loan Losses: Beginning balance $ 101 $ 692 $ 139 $ 2,049 $ 252 $ 78 $ 3,311 Charge-offs (191 ) (191 ) Recoveries 48 22 92 162 Provision 21 (248 ) 245 (70 ) (146 ) 278 80 Ending Balance $ 122 $ 444 $ 384 $ 2,027 $ 128 $ 257 $ 3,362 For the Quarter Ended September 30, 2022: Allowance for Loan Losses: Beginning Balance $ 158 $ 571 $ 207 $ 2,126 $ 240 $ 77 $ 3,379 Charge-offs (61 ) (61 ) Recoveries 17 17 Provision (36 ) (127 ) 177 (99 ) (112 ) 224 27 Ending Balance $ 122 $ 444 $ 384 $ 2,027 $ 128 $ 257 $ 3,362 Allowance for Loan Losses, September 30, 2022: Ending balance: individually evaluated for impairment $ $ $ $ 229 $ $ 229 Ending balance: collectively evaluated for impairment $ 122 $ 444 $ 384 $ 1,798 $ 128 $ 257 $ 3,133 Total Loans, September 30, 2022: Ending balance: individually evaluated for impairment $ $ $ 174 $ 2,946 $ 17 $ 3,137 Ending balance: collectively evaluated for impairment $ 9,941 $ 35,268 $ 29,247 $ 138,183 $ 9,794 $ 7,817 $ 230,250 Gaming Hotel/Motel Real Estate, Construction Real Estate, Mortgage Commercial and Industrial Other Total For the Nine Months Ended September 30, 2021: Allowance for Loan Losses: Beginning balance $ 186 $ 754 $ 111 $ 2,849 $ 417 $ 109 $ 4,426 Charge-offs (2 ) (2 ) (220 ) (224 ) Recoveries 18 4,565 89 101 4,773 Provision (1 ) 138 105 (5,167 ) (172 ) 93 (5,004 ) Ending Balance $ 185 $ 892 $ 232 $ 2,245 $ 334 $ 83 $ 3,971 For the Quarter Ended September 30, 2021: Allowance for Loan Losses: Beginning Balance $ 190 $ 939 $ 177 $ 2,336 $ 357 $ 129 $ 4,128 Charge-offs (85 ) (85 ) Recoveries 55 14 32 101 Provision (5 ) (47 ) 55 (146 ) (37 ) 7 (173 ) Ending Balance $ 185 $ 892 $ 232 $ 2,245 $ 334 $ 83 $ 3,971 Allowance for Loan Losses, September 30, 2021: Ending balance: individually evaluated for impairment $ $ $ 106 $ 123 $ 33 $ $ 262 Ending balance: collectively evaluated for impairment $ 185 $ 892 $ 126 $ 2,122 $ 301 $ 83 $ 3,709 Total Loans, September 30, 2021: Ending balance: individually evaluated for impairment $ $ $ 412 $ 5,510 $ 61 $ 14 $ 5,997 Ending balance: collectively evaluated for impairment $ 14,364 $ 49,902 $ 26,568 $ 123,123 $ 23,711 $ 7,381 $ 245,049 |
Note 7 - Deposits
Note 7 - Deposits | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 7. Time deposits of $250,000 September 30, 2022 December 31, 2021, |
Note 8 - Shareholders' Equity
Note 8 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. On March 11, 2022, .09 March 30, 2022 March 23, 2022. |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements and Disclosures | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 9. The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Available for sale securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may not Fair Value Hierarchy The Company groups assets and liabilities at fair value in three Level 1 Level 2 not Level 3 one not Following is a description of valuation methodologies used to determine the fair value of financial assets and liabilities. Cash and Due from Banks The carrying amount shown as cash and due from banks approximates fair value. Available for Sale Securities The fair value of available for sale securities is based on quoted market prices. The Company’s available for sale securities are reported at their estimated fair value, which is determined utilizing several sources. The primary source is ICE Data Pricing and Reference Date, LLC (“ICE”) which purchased Interactive Data Corporation (“IDC”) but kept the IDC methodologies. Those methodologies include utilizing pricing models that vary based on asset class and include available trade, bid and other market information and whose methodology includes broker quotes, proprietary models and vast descriptive databases. Another source for determining fair value is matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark securities. The Company’s available for sale securities for which fair value is determined through the use of such pricing models and matrix pricing are classified as Level 2 Held to Maturity Securities The fair value of held to maturity securities is based on quoted market prices. The Company’s held to maturity securities are reported at their amortized cost, and their estimated fair value, which is determined utilizing several sources, is disclosed in the financial statements and footnotes. The primary source is ICE Data Pricing and Reference Date, LLC (“ICE”) which purchased Interactive Data Corporation (“IDC”) but kept the IDC methodologies. Those methodologies include utilizing pricing models that vary based on asset class and include available trade, bid and other market information and whose methodology includes broker quotes, proprietary models and vast descriptive databases. Another source for determining fair value is matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark securities. The Company’s held to maturity securities for which fair value is determined through the use of such pricing models and matrix pricing are classified as Level 2 Other Investments The carrying amount shown as other investments approximates fair value. Federal Home Loan Bank Stock The carrying amount shown as Federal Home Loan Bank Stock approximates fair value. Loans The fair value of both fixed and floating rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings for the remaining maturities. The cash flows considered in computing the fair value of such loans are segmented into categories relating to the nature of the contract and collateral based on contractual principal maturities. Appropriate adjustments are made to reflect probable credit losses. Cash flows have been adjusted for such factors as prepayment risk or the effect of the maturity of balloon notes. The fair value of floating rate loans are estimated at market value. At each reporting period, the Company determines which loans are impaired. Accordingly, the Company’s impaired loans are reported at their estimated fair value on a non-recurring basis. An allowance for each impaired loan, which are generally collateral-dependent, is calculated based on the fair value of its collateral. The fair value of the collateral is based on appraisals performed by third 3 Other Real Estate In the course of lending operations, Management may third one 3 Cash Surrender Value of Life Insurance The carrying amount of cash surrender value of bank-owned life insurance approximates fair value. Deposits The fair value of all deposits both non-interest bearing and interest bearing demand and savings deposits along with time deposits are estimated by discounting the cash flows using the Federal Home Loan Bank bulletin curve rates deposits with similar remaining maturities. The cash flows considered in computing the fair value of such deposits are based on contractual maturities. Borrowings from Federal Home Loan Bank The fair value of Federal Home Loan Bank (“FHLB”) fixed and variable rate borrowings are estimated using repricing rates for similar types of borrowing arrangements. The balances of available for sale securities, which are the only assets measured at fair value on a recurring basis, by level within the fair value hierarchy and by investment type, as of September 30, 2022 December 31, 2021 Fair Value Measurements Using Total Level 1 Level 2 Level 3 September 30, 2022: U.S. Treasuries $ 162,143 $ $ 162,143 $ Mortgage-backed securities 58,286 58,286 Collateralized mortgage obligations 111,582 111,582 States and political subdivisions 79,293 79,293 Total $ 411,304 $ $ 411,304 $ December 31, 2021: U.S. Treasuries $ 73,154 $ $ 73,154 $ Mortgage-backed securities 71,982 71,982 Collateralized mortgage obligations 129,987 129,987 States and political subdivisions 101,680 101,680 Total $ 376,803 $ $ 376,803 $ Impaired loans, which are measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of September 30, 2022 December 31, 2021 Fair Value Measurements Using Total Level 1 Level 2 Level 3 September 30, 2022 $ 10 $ $ $ 10 December 31, 2021 129 129 Other real estate, which is measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of September 30, 2022 December 31, 2021 Fair Value Measurements Using Total Level 1 Level 2 Level 3 September 30, 2022 $ 334 $ $ $ 334 December 31, 2021 1,891 1,891 The following table presents a summary of changes in the fair value of other real estate which is measured using level 3 For the Nine For the Year Months Ended Ended September 30, 2022 December 31, 2021 Balance, beginning of period $ 1,891 $ 3,475 Loans transferred to ORE 14 Sales (1,402 ) (1,299 ) Writedowns (155 ) (299 ) Balance, end of period $ 334 $ 1,891 The carrying value and estimated fair value of financial instruments, by level within the fair value hierarchy, at September 30, 2022 December 31, 2021, Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total September 30, 2022: Financial Assets: Cash and due from banks $ 17,465 $ 17,465 $ $ $ 17,465 Available for sale securities 411,304 411,304 411,304 Held to maturity securities 178,897 164,736 164,736 Other investments 350 350 350 Federal Home Loan Bank stock 2,160 2,160 2,160 Loans, net 230,025 223,967 223,967 Cash surrender value of life insurance 20,635 20,635 20,635 Financial Liabilities: Deposits: Non-interest bearing 221,758 188,560 188,560 Interest bearing 586,764 498,571 498,571 Borrowings from Federal Home Loan Bank 5,000 5,000 5,000 Carrying Fair value Measurements Using Amount Level 1 Level 2 Level 3 Total December 31, 2021: Financial Assets: Cash and due from banks $ 49,991 $ 49,991 $ $ $ 49,991 Available for sale securities 376,803 376,803 376,803 Held to maturity securities 110,208 111,340 111,340 Other investments 350 350 350 Federal Home Loan Bank stock 2,153 2,153 2,153 Loans, net 235,851 238,305 238,305 Cash surrender value of life insurance 20,150 20,150 20,150 Financial Liabilities: Deposits: Non-interest bearing 193,473 193,473 193,473 Interest bearing 511,365 512,034 512,034 Borrowings from Federal Home Loan Bank 889 1,072 1,072 |
Note 10 - Acquisition of Corpor
Note 10 - Acquisition of Corporate Trust Business | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 10. On March 17, 2022, August 15, 2022, third 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates - The preparation of financial statements in conformity with 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 reported period. Actual results could differ from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not |
Revision of Prior Period Financial Statements [Policy Text Block] | Revision of Prior Period Financial Statements – Other investments includes a low income housing partnership in which the Company is a 99% limited partner (the “Investment”). After the Annual Report on Form 10 March 25, 2022, 323, third 2012 2018. The aggregate amount of the errors at each period end represented 3% or less of our shareholders' equity in all prior periods. In accordance with the guidance set forth in SEC Staff Accounting Bulletin 99, 108, not 10 three nine September 30, 2022 The Income Statements presented have not A summary of revisions to certain previously reported financial information is presented below: Revised Consolidated Statements of Condition as of December 31, 2021 ( As Reported Adjustment As Revised Other investments $ 2,404 $ (2,054 ) $ 350 Total assets 818,813 (2,054 ) 816,759 Undivided profits 22,965 (2,054 ) 20,911 Total shareholders' equity 91,592 (2,054 ) 89,538 Revised Consolidated Statements of Shareholders’ Equity for the nine September 30, 2021 ( Nine Months Ended September 30, 2021 As Reported Adjustment As Revised Beginning balance undivided profits $ 18,335 $ (2,110 ) $ 16,225 Beginning balance total shareholders' equity 94,866 (2,110 ) 92,756 Ending balance undivided profits 24,073 (2,110 ) 21,963 Ending balance total shareholders' equity 96,472 (2,110 ) 94,362 |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Update –In March 2022, 2022 02 2022 02” Financial Instruments-Credit Losses (Topic 326 ASU 2022 02 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2022, not |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As Reported Adjustment As Revised Other investments $ 2,404 $ (2,054 ) $ 350 Total assets 818,813 (2,054 ) 816,759 Undivided profits 22,965 (2,054 ) 20,911 Total shareholders' equity 91,592 (2,054 ) 89,538 Nine Months Ended September 30, 2021 As Reported Adjustment As Revised Beginning balance undivided profits $ 18,335 $ (2,110 ) $ 16,225 Beginning balance total shareholders' equity 94,866 (2,110 ) 92,756 Ending balance undivided profits 24,073 (2,110 ) 21,963 Ending balance total shareholders' equity 96,472 (2,110 ) 94,362 |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Gross Gross Unrealized Unrealized September 30, 2022 Amortized Cost Gains Losses Fair Value Available for sale securities: Debt securities: U.S. Treasuries $ 173,442 $ $ (11,300 ) $ 162,142 Mortgage-backed securities 63,137 55 (4,905 ) 58,287 Collateralized mortgage obligations 119,191 (7,609 ) 111,582 States and political subdivisions 102,834 (23,541 ) 79,293 Total available for sale securities $ 458,604 $ 55 $ (47,355 ) $ 411,304 Held to maturity securities: U.S. Treasuries $ 74,460 $ $ (1,425 ) $ 73,035 States and political subdivisions 104,437 (12,736 ) 91,701 Total held to maturity securities $ 178,897 $ $ (14,161 ) $ 164,736 Gross Gross Unrealized Unrealized December 31, 2021 Amortized Cost Gains Losses Fair Value Available for sale securities: U.S. Treasuries $ 73,889 $ $ (735 ) $ 73,154 Mortgage-backed securities 71,187 1,236 (441 ) 71,982 Collateralized mortgage obligations 130,181 841 (1,035 ) $ 129,987 States and political subdivisions 103,704 293 (2,317 ) 101,680 Total available for sale securities $ 378,961 $ 2,370 $ (4,528 ) $ 376,803 Held to maturity securities: States and political subdivisions $ 110,208 $ 1,760 $ (628 ) $ 111,340 Total held to maturity securities $ 110,208 $ 1,760 $ (628 ) $ 111,340 |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Amortized Cost Fair Value Available for sale securities: Due in one year or less $ 80,047 $ 79,772 Due after one year through five years 20,241 19,462 Due after five years through ten years 109,245 92,093 Due after ten years 66,743 50,109 Mortgage-backed securities 63,137 58,286 Collaterized mortgage obligations 119,191 111,582 Totals $ 458,604 $ 411,304 Held to maturity securities: Due in one year or less $ 44,926 $ 44,795 Due after one year through five years 51,206 49,543 Due after five years through ten years 41,772 37,065 Due after ten years 40,993 33,333 Totals $ 178,897 $ 164,736 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses September 30, 2022: U.S. Treasuries $ 209,793 $ 8,284 $ 25,385 $ 4,441 $ 235,178 $ 12,725 Mortgage-backed securities 39,499 2,660 7,991 2,245 47,490 4,905 Collateralized mortgage obligations 71,435 3,025 40,148 4,584 111,583 7,609 States and political subdivisions 85,819 15,674 69,354 20,603 155,173 36,277 TOTAL $ 406,546 $ 29,643 $ 142,878 $ 31,873 $ 549,424 $ 61,516 December 31, 2021: U.S. Treasuries $ 73,154 $ 735 $ $ $ 73,154 $ 735 Mortgage-backed securities 26,288 441 26,288 441 Collateralized mortgage obligations 66,369 1,035 66,369 1,035 States and political subdivisions 102,413 2,577 7,470 368 109,883 2,945 TOTAL $ 268,224 $ 4,788 $ 7,470 $ 368 $ 275,694 $ 5,156 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2022 December 31, 2021 Gaming $ 9,941 $ 7,900 Hotel/motel 35,268 50,765 Real estate, construction 29,421 27,191 Real estate, mortgage 141,129 128,352 Commercial and industrial 9,794 15,882 Other 7,834 9,072 Total $ 233,387 $ 239,162 |
Financing Receivable, Past Due [Table Text Block] | Loans Past Due Greater Number of Days Past Due Than 90 Greater Total Total Days & 30 59 60 89 Than 90 Past Due Current Loans Still Accruing September 30, 2022: Gaming $ $ $ $ $ 9,941 $ 9,941 $ Hotel/motel 35,268 35,268 Real estate, construction 2,743 2,743 26,678 29,421 Real estate, mortgage 19 1,294 278 1,591 139,538 141,129 Commercial and industrial 211 211 9,583 9,794 Other 24 1 25 7,809 7,834 Total $ 2,997 $ 1,295 $ 278 $ 4,570 $ 228,817 $ 233,387 $ December 31, 2021: Gaming $ $ $ $ $ 7,900 $ 7,900 $ Hotel/motel 50,765 50,765 Real estate, construction 105 105 27,086 27,191 Real estate, mortgage 1,996 60 63 2,119 126,233 128,352 Commercial and industrial 21 320 341 15,541 15,882 Other 209 209 8,863 9,072 Total $ 2,331 $ 380 $ 63 $ 2,774 $ 236,388 $ 239,162 $ |
Financing Receivable Credit Quality Indicators [Table Text Block] | Loans With A Grade Of: A, B or C S D E F Total September 30, 2022: Gaming $ 9,941 $ $ $ $ $ 9,941 Hotel/motel 35,268 35,268 Real estate, construction 29,247 2 172 29,421 Real estate, mortgage 138,104 79 2,535 411 141,129 Commercial and industrial 9,794 9,794 Other 7,817 17 7,834 Total $ 230,171 $ 79 $ 2,554 $ 583 $ $ 233,387 December 31, 2021: Gaming $ 7,900 $ $ $ $ $ 7,900 Hotel/motel 50,765 50,765 Real estate, construction 26,980 6 205 27,191 Real estate, mortgage 124,289 87 3,344 632 128,352 Commercial and industrial 15,834 27 21 15,882 Other 9,060 12 9,072 Total $ 234,828 $ 87 $ 3,389 $ 858 $ $ 239,162 |
Financing Receivable, Nonaccrual [Table Text Block] | September 30, 2022 December 31, 2021 Real estate, construction $ 133 $ 138 Real estate, mortgage 373 563 Total $ 506 $ 701 |
Impaired Financing Receivables [Table Text Block] | Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized September 30, 2022: With no related allowance recorded: Real estate, construction $ 244 $ 172 $ $ 185 $ 5 Real estate, mortgage 989 795 877 17 Total 1,233 967 1,062 22 With a related allowance recorded: Real estate, construction 57 50 40 50 Total 57 50 40 50 Total by class of loans: Real estate, construction 301 222 40 235 5 Real estate, mortgage 989 795 877 17 Total $ 1,290 $ 1,017 $ 40 $ 1,112 $ 22 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2021: With no related allowance recorded: Real estate, construction $ 272 $ 205 $ $ 369 $ 7 Real estate, mortgage 1,014 1,014 1,075 21 Total 1,286 1,219 1,444 28 With a related allowance recorded: Real estate, mortgage 199 199 70 203 5 Total 199 199 70 203 5 Total by class of loans: Real estate, construction 272 205 369 7 Real estate, mortgage 1,213 1,213 70 1,278 26 Total $ 1,485 $ 1,418 $ 70 $ 1,647 $ 33 |
Note 6 - Allowance for Loan L_2
Note 6 - Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Gaming Hotel/Motel Real Estate, Construction Real Estate, Mortgage Commercial and Industrial Other Total For the Nine Months Ended September 30, 2022: Allowance for Loan Losses: Beginning balance $ 101 $ 692 $ 139 $ 2,049 $ 252 $ 78 $ 3,311 Charge-offs (191 ) (191 ) Recoveries 48 22 92 162 Provision 21 (248 ) 245 (70 ) (146 ) 278 80 Ending Balance $ 122 $ 444 $ 384 $ 2,027 $ 128 $ 257 $ 3,362 For the Quarter Ended September 30, 2022: Allowance for Loan Losses: Beginning Balance $ 158 $ 571 $ 207 $ 2,126 $ 240 $ 77 $ 3,379 Charge-offs (61 ) (61 ) Recoveries 17 17 Provision (36 ) (127 ) 177 (99 ) (112 ) 224 27 Ending Balance $ 122 $ 444 $ 384 $ 2,027 $ 128 $ 257 $ 3,362 Allowance for Loan Losses, September 30, 2022: Ending balance: individually evaluated for impairment $ $ $ $ 229 $ $ 229 Ending balance: collectively evaluated for impairment $ 122 $ 444 $ 384 $ 1,798 $ 128 $ 257 $ 3,133 Total Loans, September 30, 2022: Ending balance: individually evaluated for impairment $ $ $ 174 $ 2,946 $ 17 $ 3,137 Ending balance: collectively evaluated for impairment $ 9,941 $ 35,268 $ 29,247 $ 138,183 $ 9,794 $ 7,817 $ 230,250 Gaming Hotel/Motel Real Estate, Construction Real Estate, Mortgage Commercial and Industrial Other Total For the Nine Months Ended September 30, 2021: Allowance for Loan Losses: Beginning balance $ 186 $ 754 $ 111 $ 2,849 $ 417 $ 109 $ 4,426 Charge-offs (2 ) (2 ) (220 ) (224 ) Recoveries 18 4,565 89 101 4,773 Provision (1 ) 138 105 (5,167 ) (172 ) 93 (5,004 ) Ending Balance $ 185 $ 892 $ 232 $ 2,245 $ 334 $ 83 $ 3,971 For the Quarter Ended September 30, 2021: Allowance for Loan Losses: Beginning Balance $ 190 $ 939 $ 177 $ 2,336 $ 357 $ 129 $ 4,128 Charge-offs (85 ) (85 ) Recoveries 55 14 32 101 Provision (5 ) (47 ) 55 (146 ) (37 ) 7 (173 ) Ending Balance $ 185 $ 892 $ 232 $ 2,245 $ 334 $ 83 $ 3,971 Allowance for Loan Losses, September 30, 2021: Ending balance: individually evaluated for impairment $ $ $ 106 $ 123 $ 33 $ $ 262 Ending balance: collectively evaluated for impairment $ 185 $ 892 $ 126 $ 2,122 $ 301 $ 83 $ 3,709 Total Loans, September 30, 2021: Ending balance: individually evaluated for impairment $ $ $ 412 $ 5,510 $ 61 $ 14 $ 5,997 Ending balance: collectively evaluated for impairment $ 14,364 $ 49,902 $ 26,568 $ 123,123 $ 23,711 $ 7,381 $ 245,049 |
Note 9 - Fair Value Measureme_2
Note 9 - Fair Value Measurements and Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Total Level 1 Level 2 Level 3 September 30, 2022: U.S. Treasuries $ 162,143 $ $ 162,143 $ Mortgage-backed securities 58,286 58,286 Collateralized mortgage obligations 111,582 111,582 States and political subdivisions 79,293 79,293 Total $ 411,304 $ $ 411,304 $ December 31, 2021: U.S. Treasuries $ 73,154 $ $ 73,154 $ Mortgage-backed securities 71,982 71,982 Collateralized mortgage obligations 129,987 129,987 States and political subdivisions 101,680 101,680 Total $ 376,803 $ $ 376,803 $ |
Schedule of Change in Other Real Estate [Table Text Block] | For the Nine For the Year Months Ended Ended September 30, 2022 December 31, 2021 Balance, beginning of period $ 1,891 $ 3,475 Loans transferred to ORE 14 Sales (1,402 ) (1,299 ) Writedowns (155 ) (299 ) Balance, end of period $ 334 $ 1,891 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total September 30, 2022: Financial Assets: Cash and due from banks $ 17,465 $ 17,465 $ $ $ 17,465 Available for sale securities 411,304 411,304 411,304 Held to maturity securities 178,897 164,736 164,736 Other investments 350 350 350 Federal Home Loan Bank stock 2,160 2,160 2,160 Loans, net 230,025 223,967 223,967 Cash surrender value of life insurance 20,635 20,635 20,635 Financial Liabilities: Deposits: Non-interest bearing 221,758 188,560 188,560 Interest bearing 586,764 498,571 498,571 Borrowings from Federal Home Loan Bank 5,000 5,000 5,000 Carrying Fair value Measurements Using Amount Level 1 Level 2 Level 3 Total December 31, 2021: Financial Assets: Cash and due from banks $ 49,991 $ 49,991 $ $ $ 49,991 Available for sale securities 376,803 376,803 376,803 Held to maturity securities 110,208 111,340 111,340 Other investments 350 350 350 Federal Home Loan Bank stock 2,153 2,153 2,153 Loans, net 235,851 238,305 238,305 Cash surrender value of life insurance 20,150 20,150 20,150 Financial Liabilities: Deposits: Non-interest bearing 193,473 193,473 193,473 Interest bearing 511,365 512,034 512,034 Borrowings from Federal Home Loan Bank 889 1,072 1,072 |
Other Real Estate [Member] | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Total Level 1 Level 2 Level 3 September 30, 2022 $ 334 $ $ $ 334 December 31, 2021 1,891 1,891 |
Impaired Loans Receivable [Member] | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Total Level 1 Level 2 Level 3 September 30, 2022 $ 10 $ $ $ 10 December 31, 2021 129 129 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) | 9 Months Ended |
Sep. 30, 2022 | |
Maximum Percentage of Stockholder Equity for Aggregate Errors | 3% |
Low Income Housing Partnership [Member] | |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 99% |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Revised Consolidated Financial Statements (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Sep. 29, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Other investments | $ 350 | $ 350 | |||||||
Total assets | 882,118 | 816,759 | |||||||
Undivided profits | 24,181 | 20,911 | $ 21,963 | $ 16,225 | |||||
Total shareholders' equity | $ 47,666 | $ 55,960 | $ 70,670 | 89,538 | 94,362 | 92,756 | $ 94,072 | $ 92,350 | $ 92,756 |
Previously Reported [Member] | |||||||||
Other investments | 2,404 | ||||||||
Total assets | 818,813 | ||||||||
Undivided profits | 22,965 | 24,073 | 18,335 | ||||||
Total shareholders' equity | 91,592 | 96,472 | 94,866 | ||||||
Revision of Prior Period, Adjustment [Member] | |||||||||
Other investments | (2,054) | ||||||||
Total assets | (2,054) | ||||||||
Undivided profits | (2,054) | (2,110) | (2,110) | ||||||
Total shareholders' equity | $ (2,054) | $ (2,110) | $ (2,110) |
Note 2 - Earnings Per Share (De
Note 2 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Weighted Average Number of Shares Outstanding, Basic, Total (in shares) | 4,678,186 | 4,878,557 | 4,678,186 | 4,878,557 |
Note 3 - Statements of Cash F_2
Note 3 - Statements of Cash Flows (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 1,227,261 | $ 697,154 |
Income Taxes Paid, Net, Total | 0 | 165,000 |
Real Estate Owned, Transfer to Real Estate Owned | $ 0 | $ 0 |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) | 9 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Proceeds from Sale of Debt Securities, Available-for-Sale | $ 0 | $ 0 | |
Asset Pledged as Collateral [Member] | Public Deposits, Federal Funds Purchased and Other Balances Required by Law [Member] | |||
Financial Instruments, Owned, at Fair Value, Total | $ 391,051,276 | $ 229,092,900 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 43 | ||
Securities, Qualitative Disclosure, Number of Positions | 48 | ||
Collateralized Mortgage Obligations [Member] | |||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 34 | ||
Securities, Qualitative Disclosure, Number of Positions | 34 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 155 | ||
Securities, Qualitative Disclosure, Number of Positions | 201 | ||
US Treasury Securities [Member] | |||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 41 | ||
Securities, Qualitative Disclosure, Number of Positions | 41 |
Note 4 - Investments - Amortize
Note 4 - Investments - Amortized Cost and Fair Value Of Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available for sale securities, amortized cost | $ 458,604 | $ 378,961 |
Available for sale securities, gross unrealized gains | 55 | 2,370 |
Available for sale securities, gross unrealized losses | (47,355) | (4,528) |
Available for sale securities, fair value | 411,304 | 376,803 |
Held to maturity securities, amortized cost | 178,897 | 110,208 |
Held to maturity securities, gross unrealized gains | 1,760 | |
Held to maturity securities, gross unrealized losses | (14,161) | (628) |
Held to maturity securities, fair value | 164,736 | 111,340 |
US Treasury Securities [Member] | ||
Available for sale securities, amortized cost | 173,442 | 73,889 |
Available for sale securities, gross unrealized gains | ||
Available for sale securities, gross unrealized losses | (11,300) | (735) |
Available for sale securities, fair value | 162,142 | 73,154 |
Held to maturity securities, amortized cost | 74,460 | |
Held to maturity securities, gross unrealized gains | ||
Held to maturity securities, gross unrealized losses | (1,425) | |
Held to maturity securities, fair value | 73,035 | |
Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale securities, amortized cost | 63,137 | 71,187 |
Available for sale securities, gross unrealized gains | 55 | 1,236 |
Available for sale securities, gross unrealized losses | (4,905) | (441) |
Available for sale securities, fair value | 58,287 | 71,982 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, amortized cost | 119,191 | 130,181 |
Available for sale securities, gross unrealized gains | 841 | |
Available for sale securities, gross unrealized losses | (7,609) | (1,035) |
Available for sale securities, fair value | 111,582 | 129,987 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, amortized cost | 102,834 | 103,704 |
Available for sale securities, gross unrealized gains | 293 | |
Available for sale securities, gross unrealized losses | (23,541) | (2,317) |
Available for sale securities, fair value | 79,293 | 101,680 |
Held to maturity securities, amortized cost | 104,437 | 110,208 |
Held to maturity securities, gross unrealized gains | 1,760 | |
Held to maturity securities, gross unrealized losses | (12,736) | (628) |
Held to maturity securities, fair value | $ 91,701 | $ 111,340 |
Note 4 - Investments - Amorti_2
Note 4 - Investments - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available for sale securities, due in one year or less, amortized cost | $ 80,047 | |
Available for sale securities, due in one year or less, fair value | 79,772 | |
Available for sale securities, due after one year through five years, amortized cost | 20,241 | |
Available for sale securities, due after one year through five years, fair value | 19,462 | |
Available for sale securities, due after five years through ten years, amortized cost | 109,245 | |
Available for sale securities, due after five years through ten years, fair value | 92,093 | |
Available for sale securities, due after ten years, amortized cost | 66,743 | |
Available for sale securities, due after ten years, fair value | 50,109 | |
Available for sale securities, amortized cost | 458,604 | $ 378,961 |
Available for sale securities, fair value | 411,304 | 376,803 |
Held to maturity securities, due in one year or less, amortized cost | 44,926 | |
Held to maturity securities, due in one year or less, fair value | 44,795 | |
Held to maturity securities, due after one years through five years, amortized cost | 51,206 | |
Held to maturity securities, due after one year through five years, fair value | 49,543 | |
Held to maturity securities, due after five years through ten years, amortized cost | 41,772 | |
Held to maturity securities, due after five years through ten years, fair value | 37,065 | |
Held to maturity securities, due after ten years, amortized cost | 40,993 | |
Held to maturity securities, due after ten years, fair value | 33,333 | |
Held to maturity securities, amortized cost | 178,897 | 110,208 |
Held to maturity securities, fair value | 164,736 | 111,340 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale, maturity, without single maturity date, amortized cost | 63,137 | |
Available-for-sale, maturity, without single maturity date, fair value | 58,286 | |
Available for sale securities, amortized cost | 63,137 | 71,187 |
Available for sale securities, fair value | 58,287 | 71,982 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale, maturity, without single maturity date, amortized cost | 119,191 | |
Available-for-sale, maturity, without single maturity date, fair value | 111,582 | |
Available for sale securities, amortized cost | 119,191 | 130,181 |
Available for sale securities, fair value | $ 111,582 | $ 129,987 |
Note 4 - Investments - Availabl
Note 4 - Investments - Available for Sale and Held to Maturity Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Less Than Twelve Months, Fair Value | $ 406,546 | $ 268,224 |
Less Than Twelve Months, Gross Unrealized Losses | 29,643 | 4,788 |
Over Twelve Months, Fair Value | 142,878 | 7,470 |
Over Twelve Months, Gross Unrealized Losses | 31,873 | 368 |
Total, Fair Value | 549,424 | 275,694 |
Total, Gross Unrealized Losses | 61,516 | 5,156 |
US Treasury Securities [Member] | ||
Less Than Twelve Months, Fair Value | 209,793 | 73,154 |
Less Than Twelve Months, Gross Unrealized Losses | 8,284 | 735 |
Over Twelve Months, Fair Value | 25,385 | |
Over Twelve Months, Gross Unrealized Losses | 4,441 | |
Total, Fair Value | 235,178 | 73,154 |
Total, Gross Unrealized Losses | 12,725 | 735 |
Collateralized Mortgage-Backed Securities [Member] | ||
Less Than Twelve Months, Fair Value | 39,499 | 26,288 |
Less Than Twelve Months, Gross Unrealized Losses | 2,660 | 441 |
Over Twelve Months, Fair Value | 7,991 | |
Over Twelve Months, Gross Unrealized Losses | 2,245 | |
Total, Fair Value | 47,490 | 26,288 |
Total, Gross Unrealized Losses | 4,905 | 441 |
Collateralized Mortgage Obligations [Member] | ||
Less Than Twelve Months, Fair Value | 71,435 | 66,369 |
Less Than Twelve Months, Gross Unrealized Losses | 3,025 | 1,035 |
Over Twelve Months, Fair Value | 40,148 | |
Over Twelve Months, Gross Unrealized Losses | 4,584 | |
Total, Fair Value | 111,583 | 66,369 |
Total, Gross Unrealized Losses | 7,609 | 1,035 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Fair Value | 85,819 | 102,413 |
Less Than Twelve Months, Gross Unrealized Losses | 15,674 | 2,577 |
Over Twelve Months, Fair Value | 69,354 | 7,470 |
Over Twelve Months, Gross Unrealized Losses | 20,603 | 368 |
Total, Fair Value | 155,173 | 109,883 |
Total, Gross Unrealized Losses | $ 36,277 | $ 2,945 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Loans and Leases Receivable, Gross | $ 233,387,000 | $ 239,162,000 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 |
Allocated Specific Reserves To Modified TDRs | $ 0 | $ 50,000 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 |
SBA CARES Act Paycheck Protection Program [Member] | PPP Loans 2021 [Member] | ||
Financing Receivable, Number of Loans Outstanding | 2 | 40 |
Loans and Leases Receivable, Gross | $ 377,469 | $ 2,819,944 |
Note 5 - Loans - Composition of
Note 5 - Loans - Composition of Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable, Gross | $ 233,387 | $ 239,162 |
Gaming [Member] | ||
Loans and Leases Receivable, Gross | 9,941 | 7,900 |
Hotel/Motel [Member] | ||
Loans and Leases Receivable, Gross | 35,268 | 50,765 |
Real Estate, Construction [Member] | ||
Loans and Leases Receivable, Gross | 29,421 | 27,191 |
Real Estate, Mortgage [Member] | ||
Loans and Leases Receivable, Gross | 141,129 | 128,352 |
Commercial And Industrial Loan [Member] | ||
Loans and Leases Receivable, Gross | 9,794 | 15,882 |
Other Loan [Member] | ||
Loans and Leases Receivable, Gross | $ 7,834 | $ 9,072 |
Note 5 - Loans - Age Analysis o
Note 5 - Loans - Age Analysis of the Loan Portfolio, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans | $ 233,387 | $ 239,162 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 2,997 | 2,331 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 1,295 | 380 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 278 | 63 |
Financial Asset, Past Due [Member] | ||
Loans | 4,570 | 2,774 |
Financial Asset, Not Past Due [Member] | ||
Loans | 228,817 | 236,388 |
Gaming [Member] | ||
Loans | 9,941 | 7,900 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Gaming [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | ||
Gaming [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | ||
Gaming [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | ||
Gaming [Member] | Financial Asset, Past Due [Member] | ||
Loans | ||
Gaming [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 9,941 | 7,900 |
Hotel/Motel [Member] | ||
Loans | 35,268 | 50,765 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Hotel/Motel [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | ||
Hotel/Motel [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | ||
Hotel/Motel [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | ||
Hotel/Motel [Member] | Financial Asset, Past Due [Member] | ||
Loans | ||
Hotel/Motel [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 35,268 | 50,765 |
Real Estate, Construction [Member] | ||
Loans | 29,421 | 27,191 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Real Estate, Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 2,743 | 105 |
Real Estate, Construction [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | ||
Real Estate, Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | ||
Real Estate, Construction [Member] | Financial Asset, Past Due [Member] | ||
Loans | 2,743 | 105 |
Real Estate, Construction [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 26,678 | 27,086 |
Real Estate, Mortgage [Member] | ||
Loans | 141,129 | 128,352 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Real Estate, Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 19 | 1,996 |
Real Estate, Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 1,294 | 60 |
Real Estate, Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 278 | 63 |
Real Estate, Mortgage [Member] | Financial Asset, Past Due [Member] | ||
Loans | 1,591 | 2,119 |
Real Estate, Mortgage [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 139,538 | 126,233 |
Commercial And Industrial Loan [Member] | ||
Loans | 9,794 | 15,882 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Commercial And Industrial Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 211 | 21 |
Commercial And Industrial Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 320 | |
Commercial And Industrial Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | ||
Commercial And Industrial Loan [Member] | Financial Asset, Past Due [Member] | ||
Loans | 211 | 341 |
Commercial And Industrial Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 9,583 | 15,541 |
Other Loan [Member] | ||
Loans | 7,834 | 9,072 |
Loans Past Due Greater Than 90 Days and Still Accruing | ||
Other Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 24 | 209 |
Other Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 1 | |
Other Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | ||
Other Loan [Member] | Financial Asset, Past Due [Member] | ||
Loans | 25 | 209 |
Other Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | $ 7,809 | $ 8,863 |
Note 5 - Loans - Analysis of Lo
Note 5 - Loans - Analysis of Loan Portfolio by Loan Grade, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable, Gross | $ 233,387 | $ 239,162 |
A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 230,171 | 234,828 |
D [Member] | ||
Loans and Leases Receivable, Gross | 2,554 | 3,389 |
E [Member] | ||
Loans and Leases Receivable, Gross | 583 | 858 |
S [Member] | ||
Loans and Leases Receivable, Gross | 79 | 87 |
Gaming [Member] | ||
Loans and Leases Receivable, Gross | 9,941 | 7,900 |
Gaming [Member] | A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 9,941 | 7,900 |
Gaming [Member] | D [Member] | ||
Loans and Leases Receivable, Gross | ||
Hotel/Motel [Member] | ||
Loans and Leases Receivable, Gross | 35,268 | 50,765 |
Hotel/Motel [Member] | A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 35,268 | 50,765 |
Real Estate, Construction [Member] | ||
Loans and Leases Receivable, Gross | 29,421 | 27,191 |
Real Estate, Construction [Member] | A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 29,247 | 26,980 |
Real Estate, Construction [Member] | D [Member] | ||
Loans and Leases Receivable, Gross | 2 | 6 |
Real Estate, Construction [Member] | E [Member] | ||
Loans and Leases Receivable, Gross | 172 | 205 |
Real Estate, Mortgage [Member] | ||
Loans and Leases Receivable, Gross | 141,129 | 128,352 |
Real Estate, Mortgage [Member] | A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 138,104 | 124,289 |
Real Estate, Mortgage [Member] | D [Member] | ||
Loans and Leases Receivable, Gross | 2,535 | 3,344 |
Real Estate, Mortgage [Member] | E [Member] | ||
Loans and Leases Receivable, Gross | 411 | 632 |
Real Estate, Mortgage [Member] | S [Member] | ||
Loans and Leases Receivable, Gross | 79 | 87 |
Commercial And Industrial Loan [Member] | ||
Loans and Leases Receivable, Gross | 9,794 | 15,882 |
Commercial And Industrial Loan [Member] | A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 9,794 | 15,834 |
Commercial And Industrial Loan [Member] | D [Member] | ||
Loans and Leases Receivable, Gross | 27 | |
Commercial And Industrial Loan [Member] | E [Member] | ||
Loans and Leases Receivable, Gross | 21 | |
Other Loan [Member] | ||
Loans and Leases Receivable, Gross | 7,834 | 9,072 |
Other Loan [Member] | A, B, or C [Member] | ||
Loans and Leases Receivable, Gross | 7,817 | 9,060 |
Other Loan [Member] | D [Member] | ||
Loans and Leases Receivable, Gross | $ 17 | $ 12 |
Note 5 - Loans - Total Loans on
Note 5 - Loans - Total Loans on Nonaccrual (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Total loans on nonaccrual | $ 506 | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans on nonaccrual | $ 701 | |
Real Estate, Construction [Member] | ||
Total loans on nonaccrual | 133 | |
Real Estate, Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans on nonaccrual | 138 | |
Real Estate, Mortgage [Member] | ||
Total loans on nonaccrual | $ 373 | |
Real Estate, Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans on nonaccrual | $ 563 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
With no related allowance recorded, Unpaid Principal Balance | $ 1,233 | $ 1,286 |
With no related allowance recorded, Recorded Investment | 967 | 1,219 |
With no related allowance recorded, Average Recorded Investment | 1,062 | 1,444 |
With no related allowance recorded, Interest Income Recognized | 22 | 28 |
With a related allowance recorded, Unpaid Principal Balance | 57 | 199 |
With a related allowance recorded, Recorded Investment | 50 | 199 |
Related Allowance | 40 | 70 |
With a related allowance recorded, Average Recorded Investment | 50 | 203 |
Total by class of loans, Unpaid Principal Balance | 1,290 | 1,485 |
Total by class of loans, Recorded Investment | 1,017 | 1,418 |
Total by class of loans, Average Recorded Investment | 1,112 | 1,647 |
Total by class of loans, Interest Income Recognized | 22 | 33 |
With a related allowance recorded, Interest Income Recognized | 5 | |
Real Estate, Construction [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 244 | 272 |
With no related allowance recorded, Recorded Investment | 172 | 205 |
With no related allowance recorded, Average Recorded Investment | 185 | 369 |
With no related allowance recorded, Interest Income Recognized | 5 | 7 |
With a related allowance recorded, Unpaid Principal Balance | 57 | |
With a related allowance recorded, Recorded Investment | 50 | |
Related Allowance | 40 | |
With a related allowance recorded, Average Recorded Investment | 50 | |
Total by class of loans, Unpaid Principal Balance | 301 | 272 |
Total by class of loans, Recorded Investment | 222 | 205 |
Total by class of loans, Average Recorded Investment | 235 | 369 |
Total by class of loans, Interest Income Recognized | 5 | 7 |
Real Estate, Mortgage [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 989 | 1,014 |
With no related allowance recorded, Recorded Investment | 795 | 1,014 |
With no related allowance recorded, Average Recorded Investment | 877 | 1,075 |
With no related allowance recorded, Interest Income Recognized | 17 | 21 |
With a related allowance recorded, Unpaid Principal Balance | 199 | |
With a related allowance recorded, Recorded Investment | 199 | |
Related Allowance | 70 | |
With a related allowance recorded, Average Recorded Investment | 203 | |
Total by class of loans, Unpaid Principal Balance | 989 | 1,213 |
Total by class of loans, Recorded Investment | 795 | 1,213 |
Total by class of loans, Average Recorded Investment | 877 | 1,278 |
Total by class of loans, Interest Income Recognized | $ 17 | 26 |
With a related allowance recorded, Interest Income Recognized | $ 5 |
Note 6 - Allowance for Loan L_3
Note 6 - Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Beginning balance | $ 3,379 | $ 4,128 | $ 3,311 | $ 4,426 |
Charge-offs | (61) | (85) | (191) | (224) |
Recoveries | 17 | 101 | 162 | 4,773 |
Provision for (reduction of) allowance for loan losses | 27 | (173) | 80 | (5,004) |
Ending Balance | 3,362 | 3,971 | 3,362 | 3,971 |
Ending balance: individually evaluated for impairment | 229 | 262 | 229 | 262 |
Ending balance: collectively evaluated for impairment | 3,133 | 3,709 | 3,133 | 3,709 |
Ending balance: individually evaluated for impairment | 3,137 | 5,997 | 3,137 | 5,997 |
Ending balance: collectively evaluated for impairment | 230,250 | 245,049 | 230,250 | 245,049 |
Gaming [Member] | ||||
Beginning balance | 158 | 190 | 101 | 186 |
Charge-offs | ||||
Recoveries | ||||
Provision for (reduction of) allowance for loan losses | (36) | (5) | 21 | (1) |
Ending Balance | 122 | 185 | 122 | 185 |
Ending balance: individually evaluated for impairment | ||||
Ending balance: collectively evaluated for impairment | 122 | 185 | 122 | 185 |
Ending balance: individually evaluated for impairment | ||||
Ending balance: collectively evaluated for impairment | 9,941 | 14,364 | 9,941 | 14,364 |
Hotel/Motel [Member] | ||||
Beginning balance | 571 | 939 | 692 | 754 |
Charge-offs | ||||
Recoveries | ||||
Provision for (reduction of) allowance for loan losses | (127) | (47) | (248) | 138 |
Ending Balance | 444 | 892 | 444 | 892 |
Ending balance: individually evaluated for impairment | ||||
Ending balance: collectively evaluated for impairment | 444 | 892 | 444 | 892 |
Ending balance: individually evaluated for impairment | ||||
Ending balance: collectively evaluated for impairment | 35,268 | 49,902 | 35,268 | 49,902 |
Real Estate, Construction [Member] | ||||
Beginning balance | 207 | 177 | 139 | 111 |
Charge-offs | (2) | |||
Recoveries | 18 | |||
Provision for (reduction of) allowance for loan losses | 177 | 55 | 245 | 105 |
Ending Balance | 384 | 232 | 384 | 232 |
Ending balance: individually evaluated for impairment | 106 | 106 | ||
Ending balance: collectively evaluated for impairment | 384 | 126 | 384 | 126 |
Ending balance: individually evaluated for impairment | 174 | 412 | 174 | 412 |
Ending balance: collectively evaluated for impairment | 29,247 | 26,568 | 29,247 | 26,568 |
Real Estate, Mortgage [Member] | ||||
Beginning balance | 2,126 | 2,336 | 2,049 | 2,849 |
Charge-offs | (2) | |||
Recoveries | 55 | 48 | 4,565 | |
Provision for (reduction of) allowance for loan losses | (99) | (146) | (70) | (5,167) |
Ending Balance | 2,027 | 2,245 | 2,027 | 2,245 |
Ending balance: individually evaluated for impairment | 229 | 123 | 229 | 123 |
Ending balance: collectively evaluated for impairment | 1,798 | 2,122 | 1,798 | 2,122 |
Ending balance: individually evaluated for impairment | 2,946 | 5,510 | 2,946 | 5,510 |
Ending balance: collectively evaluated for impairment | 138,183 | 123,123 | 138,183 | 123,123 |
Commercial And Industrial Loan [Member] | ||||
Beginning balance | 240 | 357 | 252 | 417 |
Charge-offs | ||||
Recoveries | 14 | 22 | 89 | |
Provision for (reduction of) allowance for loan losses | (112) | (37) | (146) | (172) |
Ending Balance | 128 | 334 | 128 | 334 |
Ending balance: individually evaluated for impairment | 33 | 33 | ||
Ending balance: collectively evaluated for impairment | 128 | 301 | 128 | 301 |
Ending balance: individually evaluated for impairment | 61 | 61 | ||
Ending balance: collectively evaluated for impairment | 9,794 | 23,711 | 9,794 | 23,711 |
Other Loan [Member] | ||||
Beginning balance | 77 | 129 | 78 | 109 |
Charge-offs | (61) | (85) | (191) | (220) |
Recoveries | 17 | 32 | 92 | 101 |
Provision for (reduction of) allowance for loan losses | 224 | 7 | 278 | 93 |
Ending Balance | 257 | 83 | 257 | 83 |
Ending balance: individually evaluated for impairment | ||||
Ending balance: collectively evaluated for impairment | 257 | 83 | 257 | 83 |
Ending balance: individually evaluated for impairment | 17 | 14 | 17 | 14 |
Ending balance: collectively evaluated for impairment | $ 7,817 | $ 7,381 | $ 7,817 | $ 7,381 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Time Deposits, at or Above FDIC Insurance Limit | $ 8,756,000 | $ 43,613,000 |
Note 8 - Shareholders' Equity (
Note 8 - Shareholders' Equity (Details Textual) | Mar. 11, 2022 $ / shares |
Dividends Payable, Amount Per Share (in dollars per share) | $ 0.09 |
Note 9 - Fair Value Measureme_3
Note 9 - Fair Value Measurements and Disclosures (Details Textual) | Sep. 30, 2022 USD ($) |
Minimum Current Appraisals More Than One Year Old And/ Or Loan Balance | $ 200,000 |
Note 9 - Fair Value Measureme_4
Note 9 - Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Available for sale securities | $ 411,304 | $ 376,803 |
Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 411,304 | 376,803 |
Fair Value, Recurring [Member] | ||
Available for sale securities | 411,304 | 376,803 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 411,304 | 376,803 |
US Treasury Securities [Member] | ||
Available for sale securities | 162,142 | 73,154 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | ||
Available for sale securities | 162,143 | 73,154 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 162,143 | 73,154 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale securities | 58,287 | 71,982 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Available for sale securities | 58,286 | 71,982 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 58,286 | 71,982 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities | 111,582 | 129,987 |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | ||
Available for sale securities | 111,582 | 129,987 |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 111,582 | 129,987 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 79,293 | 101,680 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Available for sale securities | 79,293 | 101,680 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | $ 79,293 | $ 101,680 |
Note 9 - Fair Value Measureme_5
Note 9 - Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Non-recurring Basis of Impairment Loans (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Impaired Loans | $ 10 | $ 129 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired Loans | $ 10 | $ 129 |
Note 9 - Fair Value Measureme_6
Note 9 - Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Non-recurring Basis of Other Real Estate (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Other real estate | $ 334 | $ 1,891 |
Fair Value, Inputs, Level 3 [Member] | ||
Other real estate | $ 334 | $ 1,891 |
Note 9 - Fair Value Measureme_7
Note 9 - Fair Value Measurements and Disclosures - Change in Fair Value of Other Real Estate (Details) - Real Estate Acquired in Satisfaction of Debt [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Balance, beginning of period | $ 1,891 | $ 3,475 |
Loans transferred to ORE | 14 | |
Sales | (1,402) | (1,299) |
Writedowns | (155) | (299) |
Balance, end of period | $ 334 | $ 1,891 |
Note 9 - Fair Value Measureme_8
Note 9 - Fair Value Measurements and Disclosures - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Cash and due from banks | $ 17,465 | $ 49,991 |
Available for sale securities, fair value | 411,304 | 376,803 |
Held to maturity securities, amortized cost | 178,897 | 110,208 |
Held to maturity securities, fair value | 164,736 | 111,340 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 2,160 | 2,153 |
Loans, net | 223,967 | 238,305 |
Cash surrender value of life insurance | 20,635 | 20,150 |
Non-interest bearing | 188,560 | 193,473 |
Interest bearing | 498,571 | 512,034 |
Borrowings from Federal Home Loan Bank | 5,000 | 1,072 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 17,465 | 49,991 |
Available for sale securities, fair value | ||
Held to maturity securities, fair value | ||
Other investments | 350 | 350 |
Federal Home Loan Bank stock | ||
Loans, net | ||
Cash surrender value of life insurance | ||
Non-interest bearing | 188,560 | 193,473 |
Interest bearing | ||
Borrowings from Federal Home Loan Bank | ||
Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | ||
Available for sale securities, fair value | 411,304 | 376,803 |
Held to maturity securities, fair value | 164,736 | 111,340 |
Other investments | ||
Federal Home Loan Bank stock | 2,160 | 2,153 |
Loans, net | ||
Cash surrender value of life insurance | 20,635 | 20,150 |
Non-interest bearing | ||
Interest bearing | ||
Borrowings from Federal Home Loan Bank | 5,000 | 1,072 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | ||
Available for sale securities, fair value | ||
Held to maturity securities, fair value | ||
Other investments | ||
Federal Home Loan Bank stock | ||
Loans, net | 223,967 | 238,305 |
Cash surrender value of life insurance | ||
Non-interest bearing | ||
Interest bearing | 498,571 | 512,034 |
Borrowings from Federal Home Loan Bank | ||
Reported Value Measurement [Member] | ||
Cash and due from banks | 17,465 | 49,991 |
Available for sale securities, fair value | 411,304 | 376,803 |
Held to maturity securities, amortized cost | 178,897 | 110,208 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 2,160 | 2,153 |
Loans, net | 230,025 | 235,851 |
Cash surrender value of life insurance | 20,635 | 20,150 |
Non-interest bearing | 221,758 | 193,473 |
Interest bearing | 586,764 | 511,365 |
Borrowings from Federal Home Loan Bank | $ 5,000 | $ 889 |
Note 10 - Acquisition of Corp_2
Note 10 - Acquisition of Corporate Trust Business (Details Textual) | Mar. 17, 2022 USD ($) |
Trustmark [Member] | |
Business Combination, Consideration Transferred, Total | $ 650,000 |