Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 28, 2023 | |
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 | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
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 | 4,678,186 |
Consolidated Statements of Cond
Consolidated Statements of Condition (Current Period Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 61,416,000 | $ 32,836,000 |
Available for sale securities | 329,402,000 | 350,168,000 |
Held to maturity securities, fair value of $208,513 at June 30, 2023; $180,050 at December 31, 2022 | 222,838,000 | 195,217,000 |
Other investments | 350,000 | 350,000 |
Federal Home Loan Bank Stock, at cost | 2,221,000 | 2,175,000 |
Loans | 234,280,000 | 237,878,000 |
Less: Allowance for loan losses | 3,224,000 | 3,338,000 |
Loans, net | 231,056,000 | 234,540,000 |
Bank premises and equipment, net of accumulated depreciation | 19,404,000 | 18,499,000 |
Other real estate | 952,000 | 259,000 |
Accrued interest receivable | 3,323,000 | 3,274,000 |
Cash surrender value of life insurance | 21,090,000 | 20,768,000 |
Intangible asset | 569,000 | 600,000 |
Other assets | 3,055,000 | 2,953,000 |
Total assets | 895,676,000 | 861,639,000 |
Deposits: | ||
Demand, non-interest bearing | 213,703,000 | 198,097,000 |
Savings and demand, interest bearing | 560,002,000 | 546,565,000 |
Time, $250,000 or more | 7,636,000 | 8,773,000 |
Other time deposits | 29,157,000 | 32,345,000 |
Total deposits | 810,498,000 | 785,780,000 |
Employee and director benefit plans liabilities | 19,467,000 | 19,198,000 |
Other liabilities | 1,185,000 | 1,467,000 |
Total liabilities | 831,150,000 | 806,445,000 |
Shareholders' Equity: | ||
Common stock, $1 par value, 15,000,000 shares authorized, 4,678,186 shares issued and outstanding at June 30, 2023 and December 31, 2022 | 4,678,000 | 4,678,000 |
Surplus | 65,780,000 | 65,780,000 |
Undivided profits | 36,045,000 | 31,154,000 |
Accumulated other comprehensive loss | (41,977,000) | (46,418,000) |
Total shareholders' equity | 64,526,000 | 55,194,000 |
Total liabilities and shareholders' equity | $ 895,676,000 | $ 861,639,000 |
Consolidated Statements of Co_2
Consolidated Statements of Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Held to maturity securities, fair value | $ 208,513 | $ 180,050 |
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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income: | ||||
Interest and fees on loans | $ 3,295 | $ 2,675 | $ 6,272 | $ 5,370 |
Interest and dividends on securities: | ||||
U.S. Treasuries | 2,205 | 608 | 3,866 | 838 |
Mortgage-backed securities | 881 | 550 | 1,799 | 1,084 |
States and political subdivisions | 1,074 | 1,147 | 2,180 | 2,314 |
Collateralized mortgage obligations | 869 | 360 | 1,709 | 634 |
Other investments | 29 | 2 | 57 | 3 |
Interest on balances due from depository institutions | 297 | 116 | 1,204 | 155 |
Total interest income | 8,650 | 5,458 | 17,087 | 10,398 |
Interest expense: | ||||
Deposits | 1,447 | 259 | 2,825 | 413 |
Borrowings from Federal Home Loan Bank | 1 | 6 | 10 | 12 |
Total interest expense | 1,448 | 265 | 2,835 | 425 |
Net interest income | 7,202 | 5,193 | 14,252 | 9,973 |
Provision for credit losses | (312) | 28 | (297) | 53 |
Net interest income after provision for allowance for credit losses | 7,514 | 5,165 | 14,549 | 9,920 |
Non-interest income: | ||||
Increase in cash surrender value of life insurance | 117 | 109 | 232 | 234 |
Other income | 168 | 109 | 301 | 244 |
Total non-interest income | 1,803 | 1,598 | 3,510 | 3,192 |
Non-interest expense: | ||||
Salaries and employee benefits | 2,948 | 2,761 | 5,815 | 5,402 |
Net occupancy | 495 | 463 | 958 | 945 |
Equipment rentals, depreciation and maintenance | 681 | 746 | 1,344 | 1,480 |
FDIC and state banking assessments | 116 | 91 | 233 | 199 |
Data processing | 306 | 351 | 648 | 705 |
ATM expense | (72) | 338 | 169 | 646 |
Other real estate expense | 46 | 70 | 37 | 61 |
Legal expense | 180 | 106 | 309 | 208 |
Other expense | 896 | 745 | 1,755 | 1,450 |
Total non-interest expense | 5,596 | 5,671 | 11,268 | 11,096 |
Income before income taxes | 3,721 | 1,092 | 6,791 | 2,016 |
Income tax expense | 811 | 0 | 1,258 | 0 |
Net income | $ 2,910 | $ 1,092 | $ 5,533 | $ 2,016 |
Basic and diluted earnings per share (in dollars per share) | $ 0.62 | $ 0.23 | $ 1.18 | $ 0.43 |
Dividends declared per share (in dollars per share) | $ 0.12 | $ 0 | $ 0.12 | $ 0.09 |
Trust Department Income and Fees [Member] | ||||
Non-interest income: | ||||
Revenue from contract with customer | $ 634 | $ 416 | $ 1,224 | $ 860 |
Service Charges on Deposit Accounts [Member] | ||||
Non-interest income: | ||||
Revenue from contract with customer | $ 884 | $ 964 | $ 1,753 | $ 1,854 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net income | $ 2,910 | $ 1,092 | $ 5,533 | $ 2,016 |
Other comprehensive income (loss): | ||||
Net unrealized (loss) gain on available for sale securities | (610) | (15,765) | 4,441 | (35,099) |
Total other comprehensive (loss) income | (610) | (15,765) | 4,441 | (35,099) |
Total comprehensive (loss) income | $ 2,300 | $ (14,673) | $ 9,974 | $ (33,083) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 4,678,186 | ||||||||||||||
Balance at Dec. 31, 2021 | $ 4,678 | $ 65,780 | $ 23,102 | $ (1,831) | $ 91,729 | ||||||||||
Net income | 924 | 924 | |||||||||||||
Other comprehensive income (loss) | (19,334) | (19,334) | |||||||||||||
Dividend declared | (421) | (421) | |||||||||||||
Balance at Mar. 31, 2022 | $ 4,678 | 65,780 | 23,605 | (21,165) | 72,898 | ||||||||||
Balance (in shares) at Mar. 31, 2022 | 4,678,186 | ||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 4,678,186 | ||||||||||||||
Balance at Dec. 31, 2021 | $ 4,678 | 65,780 | 23,102 | (1,831) | 91,729 | ||||||||||
Net income | 2,016 | ||||||||||||||
Other comprehensive income (loss) | (35,099) | ||||||||||||||
Balance at Jun. 30, 2022 | $ 4,678 | 65,780 | 24,697 | (36,930) | 58,225 | ||||||||||
Balance (in shares) at Jun. 30, 2022 | 4,678,186 | ||||||||||||||
Balance (in shares) at Mar. 31, 2022 | 4,678,186 | ||||||||||||||
Balance at Mar. 31, 2022 | $ 4,678 | 65,780 | 23,605 | (21,165) | 72,898 | ||||||||||
Net income | 1,092 | 1,092 | |||||||||||||
Other comprehensive income (loss) | (15,765) | (15,765) | |||||||||||||
Balance at Jun. 30, 2022 | $ 4,678 | 65,780 | 24,697 | (36,930) | 58,225 | ||||||||||
Balance (in shares) at Jun. 30, 2022 | 4,678,186 | ||||||||||||||
Balance (in shares) (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | 4,678,186 | ||||||||||||||
Balance (in shares) at Dec. 31, 2022 | 4,678,186 | ||||||||||||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ (81) | $ (81) | $ 4,678 | $ 65,780 | $ 31,073 | $ (46,418) | $ 55,113 | ||||||||
Balance at Dec. 31, 2022 | $ 4,678 | 65,780 | 31,154 | (46,418) | 55,194 | ||||||||||
Net income | 2,623 | 2,623 | |||||||||||||
Other comprehensive income (loss) | 5,051 | 5,051 | |||||||||||||
Balance at Mar. 31, 2023 | $ 4,678 | 65,780 | 33,696 | (41,367) | 62,787 | ||||||||||
Balance (in shares) at Mar. 31, 2023 | 4,678,186 | ||||||||||||||
Balance (in shares) (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | 4,678,186 | ||||||||||||||
Balance (in shares) at Dec. 31, 2022 | 4,678,186 | ||||||||||||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ (81) | $ (81) | $ 4,678 | $ 65,780 | $ 31,073 | $ (46,418) | $ 55,113 | ||||||||
Balance at Dec. 31, 2022 | $ 4,678 | 65,780 | 31,154 | (46,418) | 55,194 | ||||||||||
Net income | 5,533 | ||||||||||||||
Other comprehensive income (loss) | 4,441 | ||||||||||||||
Balance at Jun. 30, 2023 | $ 4,678 | 65,780 | 36,045 | (41,977) | 64,526 | ||||||||||
Balance (in shares) at Jun. 30, 2023 | 4,678,186 | ||||||||||||||
Balance (in shares) at Mar. 31, 2023 | 4,678,186 | ||||||||||||||
Balance at Mar. 31, 2023 | $ 4,678 | 65,780 | 33,696 | (41,367) | 62,787 | ||||||||||
Net income | 2,910 | 2,910 | |||||||||||||
Other comprehensive income (loss) | (610) | (610) | |||||||||||||
Dividend declared | (561) | (561) | |||||||||||||
Balance at Jun. 30, 2023 | $ 4,678 | $ 65,780 | $ 36,045 | $ (41,977) | $ 64,526 | ||||||||||
Balance (in shares) at Jun. 30, 2023 | 4,678,186 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Cash dividend, per share (in dollars per share) | $ 0.12 | $ 0 | $ 0.09 | $ 0.12 | $ 0.09 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 5,533 | $ 2,016 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 738 | 815 |
Provision for credit losses | (297) | 53 |
Writedown of other real estate | 0 | 72 |
Loss (Gain) on sales of other real estate | 62 | (87) |
Amortization of intangible asset | 31 | 0 |
(Accretion) Amortization of available for sale securities | (56) | 235 |
(Accretion) Amortization of held to maturity securities | (1,819) | 256 |
Change in accrued interest receivable | (49) | (127) |
Increase in cash surrender value of life insurance | (232) | (234) |
Change in other assets | (102) | (557) |
Change in employee and director benefit plan liabilities and other liabilities | (6) | (552) |
Net cash provided by operating activities | 3,803 | 1,890 |
Cash flows from investing activities: | ||
Proceeds from maturities of available for sale securities | 35,914 | 12,761 |
Purchases of available for sale securities | (10,651) | (103,900) |
Proceeds from maturities of held to maturity securities | 137,087 | 5,142 |
Purchases of held to maturity securities | (162,970) | (29,940) |
Purchases of Federal Home Loan Bank stock | (46) | (2) |
Proceeds from sales of other real estate | 197 | 1,489 |
Loans, net change | 2,821 | 4,446 |
Investment in cash surrender value of life insurance | (90) | (101) |
Net cash provided by (used in) investing activities | 620 | (111,233) |
Cash flows from financing activities: | ||
Demand and savings deposits, net change | 29,043 | 77,849 |
Time deposits, net change | (4,325) | (3,217) |
Borrowings from Federal Home Loan Bank | 27,100 | 14,000 |
Repayments to Federal Home Loan Bank | (27,100) | (7,025) |
Cash dividends | (561) | (421) |
Net cash provided by financing activities | 24,157 | 81,186 |
Net change in cash and cash equivalents | 28,580 | (28,157) |
Cash and cash equivalents, beginning of period | 32,836 | 49,991 |
Cash and cash equivalents, end of period | 61,416 | 21,834 |
Bank Premises and Equipment [Member] | ||
Cash flows from investing activities: | ||
Payments to Acquire Property, Plant, and Equipment | $ (1,642) | $ (1,128) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2023 | |
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 June 30, 2023 June 30, 2022 2022 10 CRITICAL ACCOUNTING POLICIES The results of operations for the quarter and six June 30, 2023, 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. The Company’s loan portfolio segments as of June 30, 2023 December 31, 2022 Real Estate Loans Residential-Residential mortgage loans are susceptible to weakening general economic conditions, increases in unemployment rates, and declining real estate values. Construction-Risk common to commercial construction loans are cost overruns, changes in market demand for property, inadequate long-term financing arrangements, and declines in real estate values. Residential construction loans are susceptible to those same risks as well as those associated with residential mortgage loans. Changes in market demand for property could lead to longer marketing times resulting in higher carrying costs, declining values, and higher interest rates. Nonresidential-Risks to this loan category include industry concentration and the inability to monitor the condition of collateral. Declines in general economic conditions and other events can cause cash flows to fall to levels insufficient to service debt. Also, declines in real estate values and lack of suitable alternative use for the properties. These loans are also susceptible to declines in occupancy rates, business failure, and general economic conditions. Commercial and Industrial-Risk to this loan category include industry concentration and the practical limitations associated with monitoring the condition of the collateral which often consists of inventory, accounts receivable, and other non-real estate assets. Equipment and inventory obsolescence can also pose a risk. Declines in general economic conditions and other events can cause cash flows to fall to levels insufficient to service debt. Other-Risk common to these loans include regulatory risks, unemployment, and changes in local economic conditions as well as the inability to monitor collateral consisting of personal property. Revision of Prior Period Financial Statements – During 2022, 2006, The error at each period end represented 3% or less of our shareholders' equity in all prior periods, and the aggregate net effect of the error correction on shareholders’ equity was minimal. In accordance with the guidance set forth in SEC Staff Accounting Bulletin 99, 108, not 10 June 30, 2022, Revised Consolidated Statements of Shareholders’ Equity for the six June 30, 2022 ( Six Months Ended June 30, 2022 As Reported Adjustment As Revised Beginning balance undivided profits $ 20,911 $ 2,191 $ 23,102 Beginning balance total shareholders' equity 89,538 2,191 91,729 Ending balance undivided profits 22,432 2,265 24,697 Ending balance total shareholders' equity 55,960 2,265 58,225 Revised Consolidated Income Statements for the three six June 30, 2022 ( Three Months Ended June 30, 2022 As Reported Adjustment As Revised Non-Interest Expense $ 5,708 $ (37 ) $ 5,671 Net Income 1,055 37 1,092 Basic and diluted earnings (loss) per share 0.23 - 0.23 Six Months Ended June 30, 2022 As Reported Adjustment As Revised Non-Interest Expense $ 11,170 $ (74 ) $ 11,096 Net Income 1,942 74 2,016 Basic and diluted earnings (loss) per share 0.42 0.01 0.43 Accounting Standards Update –In March 2023, 2023 02 2023 02” Investments-Equity Method and Joint Ventures (Topic 323 2023 02 2023 02 1 2 not not 2023 02 December 15, 2023, no In March 2022, 2022 02, 326 two 1 310 40 2 326 20. 326 20 50 6, The amendments in this update are effective for fiscal years beginning after December 15, 2022, 310 40, may January 1, 2023 not On January 1, 2023, 326, January 1, 2023 326, There were no 10 December 31, 2022. Reclassification-Certain items previously reported have been reclassified to conform to the current year’s reporting format due to the adoption of CECL. The Company has adopted the CECL (Current Expected Credit Losses) methodology for estimating allowances for credit losses effective January 1, 2023. 2016 13, 326 In general, the Bank uses a broad range of data to estimate expected credit losses under CECL, including information about past events, current conditions, and reasonable and supportable forecasts relevant to assessing the collectability of the cash flows of financial assets. The following represents an overview of key factors regarding CECL: CECL requires the Bank to measure expected credit losses on financial assets carried at amortized cost on a collective or pool basis when similar risk characteristics exist. The Bank has determined that Call Report categories will be utilized, and Management will maintain the option to further segment the portfolio if we deem it beneficial to the analysis. As stated above, CECL also applies to held to maturity debt securities since they are carried at amortized cost and are within the scope of the standard. Therefore, it is the responsibility of management to establish any required allowances for credit losses on the Bank’s held to maturity debt securities as of the date the Bank adopts CECL and to maintain such allowances thereafter. Because CECL requires the Bank to measure expected credit losses on a collective or pool basis when similar risk characteristics exist, held to maturity debt securities that share similar risk characteristics are collectively assessed for credit losses. Estimation Methods for Expected Credit Losses-Accounting Standards Codification (“ASC”) 326, not may not Open Pool or Snapshot Method The starting point for the calculation consists of assets that are outstanding at the end of a given time frame and are made up of assets that were originated in various years. Additional assets may Weighted Average Remaining Maturity (WARM) Method A loss-rate method that estimates expected credit losses over the remaining life of the financial assets and uses a weighted average of the assets’ contractual terms to estimate the pool’s remaining contractual term. The WARM method uses average annual net charge-off rates and the amortization adjusted remaining life plus qualitative adjustments to estimate the ACLs. Qualitative Factor Adjustments The estimation of ACLs is to reflect consideration of all significant factors relevant to the expected collectability of the Bank’s financial assets as of the reporting date. Management begins their expected credit loss estimation process by determining the Bank’s historical loss information or utilizing reliable and relevant peer group (UPBR, State, custom) historical loss proxy data for each segment of financial assets with similar risk characteristics. Management is to consider the need to qualitatively adjust expected credit loss estimates for information not may Historical loss experience generally provides a quantitative starting point for Management’s estimate of expected credit losses. Consistent with FASB ASU Topic 326, may Management is to consider the qualitative factors that are relevant to the Bank as of the reporting date, which may not 1. Nature and volume of the Bank’s financial assets. 2. Existence, growth, and effect of any concentrations of credit. 3. Volume and severity of past due financial assets, the volume of nonaccrual assets, and the volume and severity of adversely classified or graded assets. Adversely classified or graded loans are loans rated “substandard” (or its equivalent) or worse under the institution’s loan classification system. 4. Value of the underlying collateral for loans that are not 5. Bank’s lending policies and procedures, including changes in underwriting standards and practices for collections, write-offs, and recoveries. 6. Quality of the Bank’s credit review function. 7. Experience, ability, and depth of the Bank’s lending, investment, collection, and other relevant management and staff. 8. Effect of other external factors such as the regulatory, legal, and technological environments, competition, and events such as natural disasters. 9. Actual and expected changes in international, national, regional, and local economic and may may may For reporting periods beginning on or after January 1, 2023, may two two six For the collective approach, the Company segments loans into real estate-residential, real estate-nonresidential, real estate-construction and land development, commercial and industrial, and consumer/other, with further segmentation by region and sub-portfolio, as deemed appropriate. Both quantitative and qualitative factors are applied at the portfolio segment levels. The Company applies the practical expedient that permits the exclusion of the accrued interest receivable balance from amortized cost basis of financing receivables. The Company applies the expected future loss rate for each loan portfolio segment to each of the bank’s segments to calculate the allowance for credit losses. CECL also requires capturing estimated credit losses on unfunded commitments that meet certain criteria. Management starts with current gross unfunded commitment levels by category as reported on the call report and then subtracts any unconditionally cancellable amounts, which are not The initial default loss rates are then estimated by taking expected future lifetime loss rates of the loan categories that are included in each unfunded commitment segment and dividing the lifetime rate by their respective WARMs to derive an annual loss rate estimate. The Company elected not 90 The Company establishes specific reserves using an individually evaluated approach for nonaccrual loans, loans modified in troubled debt restructures, loans for which a troubled debt restructure is reasonably expected, and other financial instruments that are deemed to not The CECL standard also requires an assessment of the Company’s held to maturity debt securities for expected credit losses and the available for sale debt securities for credit-related impairment. The Company applies the practical expedient to exclude the accrued interest receivable balance of $1,148,000 from the amortized cost basis of financing receivables and held to maturity debt securities. The allowance for credit losses on held to maturity debt securities is estimated at the individual security level when there is a more than inconsequential risk of default. A separate contra valuation account is available to absorb losses on securities. The allowance for credit loss is limited to the amount by which the fair value is less than the amortized cost basis. The Company evaluates credit impairment on available for sale debt securities at an individual security level. This evaluation is done for securities whose fair value is below amortized cost with a more than inconsequential risk of default and where the Company has assessed the decline in fair value is significant enough to suggest a credit event occurred. Credit events are generally assessed based on adverse conditions specifically related to the security, an industry, or geographic area, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, changes in the financial condition of the underlying loan obligors. The allowance for credit losses for such securities is measured using a discounted cash flow methodology, through which management compares the present value of expected cash flows with the amortized cost basis of the security. The allowance for credit loss is limited to the amount by which the fair value is less than the amortized cost basis. If the Company intends to sell the debt security, or more likely than not The Company reassesses the credit losses at each reporting period and records subsequent changes in the allowance for credit losses on loans, unfunded commitments and securities with a corresponding adjustment recorded in the provision for credit loss expense. The Company adopted ASC 326 January 1, 2023 326 2022 10 The following table details the impact of the adoption of ASC 326 January 1, 2023 ( January 1, 2023 Pre-Adoption Allowance Impact of Adoption Post-Adoption Allowance Cumulative Effect on Retained Earnings Securities held to maturity: U.S. Treasuries $ - $ - $ - $ - States and political subdivisions - 41 41 (32 ) Total $ - $ 41 $ 41 $ (32 ) Loans: Real Estate, residential $ 913 $ 396 $ 1,309 $ (313 ) Real Estate, construction 392 (58 ) 334 46 Real Estate, non-residential 1,639 (215 ) 1,424 170 Commerical & Industrial 143 (84 ) 59 66 Consumer/Other 251 (49 ) 202 39 Total $ 3,338 $ (10 ) $ 3,328 $ 8 Off-balance-sheet credit exposures $ - $ 72 $ 72 $ (57 ) |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
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 for the three six June 30, 2023 2022, |
Note 3 - Statements of Cash Flo
Note 3 - Statements of Cash Flows | 6 Months Ended |
Jun. 30, 2023 | |
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 $2,806,137 and $426,419 for the six June 30, 2023 2022, six June 30, 2023 2022. six June 30, 2023. six June 30, 2022. |
Note 4 - Investments
Note 4 - Investments | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Effective January 1, 2023, June 30, 2023, no no January 1, 2023. No June 30, 2023. The amortized cost, fair value and allowance for credit losses related to securities at June 30, 2023 December 31, 2022, Gross Gross Allowance Amortized Unrealized Unrealized for Credit Estimated June 30, 2023 Cost Gains Losses Losses Fair Value Available for sale securities: U.S. Treasuries $ 103,867 $ - $ (9,832 ) $ - $ 94,035 Mortgage-backed securities 56,594 23 (4,788 ) - 51,829 Collateralized mortgage obligations 110,307 - (7,217 ) - 103,090 States and political subdivisions 101,952 - (21,504 ) - 80,448 Total available for sale securities $ 372,720 $ 23 $ (43,341 ) $ - $ 329,402 Gross Gross Allowance Net Amortized Unrealized Unrealized Estimated for Credit Carrying June 30, 2023 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 124,344 $ 31 $ (1,481 ) $ 122,894 $ - $ 124,344 States and political subdivisions 98,535 35 (12,951 ) 85,619 (41 ) 98,494 Total held to maturity securities $ 222,879 $ 66 $ (14,432 ) $ 208,513 $ (41 ) $ 222,838 Gross Gross Allowance Net Amortized Unrealized Unrealized for Credit Carrying December 31, 2022 Cost Gains Losses Losses Amount Available for sale securities: U.S. Treasuries $ 118,782 $ - $ (10,414 ) $ - $ 108,368 Mortgage-backed securities 61,280 36 (4,877 ) - 56,439 Collateralized mortgage obligations 115,436 - (8,059 ) - 107,377 States and political subdivisions 102,428 2 (24,446 ) - 77,984 Total available for sale securities $ 397,926 $ 38 $ (47,796 ) $ - $ 350,168 Gross Gross Allowance Net Amortzied Unrealized Unrealized Estimated for Credit Carrying December 31, 2022 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 94,339 - $ (1,288 ) $ 93,051 - $ 94,339 States and political subdivisions 100,878 52 (13,931 ) 86,999 - 100,878 Total held to maturity securities $ 195,217 $ 52 $ (15,219 ) $ 180,050 $ - $ 195,217 The allowance for credit losses on held to maturity securities is a contra-asset valuation account that is deducted from the amortized cost basis of held to maturity securities to present the net amount expected to be collected. With regard to U.S. Treasury securities issued by the U.S. government, or agencies thereof, it is expected that the securities will not no The following table details activity in the allowance for credit losses on held to maturity securities in the state and political subdivision category during the six June 30,2023 Beginning balance, prior to adoption of ASC 326 $ - Impact of adopting ASC 326 41 Credit loss expense (benefit) - Ending balance $ 41 The amortized cost and fair value of debt securities at June 30, 2023 ( may Amortized Cost Fair Value Available for sale securities: Due in one year or less $ 14,987 $ 14,864 Due after one year through five years 58,882 53,216 Due after five years through ten years 76,924 64,549 Due after ten years 55,026 41,854 Mortgage-backed securities 56,594 51,829 Collateralized mortgage obligations 110,307 103,090 Totals $ 372,720 $ 329,402 Held to maturity securities: Due in one year or less $ 86,686 $ 86,289 Due after one year through five years 67,109 64,531 Due after five years through ten years 32,854 29,060 Due after ten years 36,230 28,633 Totals $ 222,879 $ 208,513 Available for sale securities with gross unrealized losses for which an allowance for credit losses has not January 31, 2023 no June 30, 2023 December 31, 2022, Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses June 30, 2023: U.S. Treasuries $ 93,792 $ (406 ) $ 118,108 $ (10,907 ) $ 211,900 $ (11,313 ) Mortgage-backed securities 3,595 (28 ) 41,181 (4,760 ) 44,776 (4,788 ) Collateralized mortgage obligations - - 103,089 (7,217 ) 103,089 (7,217 ) States and political subdivisions 8,118 (342 ) 155,759 (34,113 ) 163,877 (34,455 ) TOTAL $ 105,505 $ (776 ) $ 418,137 $ (56,997 ) $ 523,642 $ (57,773 ) December 31, 2022: U.S. Treasuries $ 132,113 $ (2,158 ) $ 64,533 $ (9,544 ) $ 196,646 $ (11,702 ) Mortgage-backed securities 25,234 (1,755 ) 21,850 (3,122 ) 47,084 (4,877 ) Collateralized mortgage obligations 48,188 (1,610 ) 59,189 (6,449 ) 107,377 (8,059 ) States and political subdivisions 50,025 (7,581 ) 110,881 (30,796 ) 160,906 (38,377 ) TOTAL $ 255,560 $ (13,104 ) $ 256,453 $ (49,911 ) $ 512,013 $ (63,015 ) At June 30, 2023, 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 six June 30, 2023 June 30, 2022. Securities with a fair value of $377,680,931 and $398,673,043 at June 30, 2023 December 31, 2022, |
Note 5 - Loans
Note 5 - Loans | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. Certain items previously reported have been reclassified to conform to the current year’s reporting format due to the adoption of CECL. The composition of the loan portfolio at June 30, 2023 December 31, 2022, June 30, 2023 December 31, 2022 Real estate, residential $ 70,269 $ 67,512 Real estate, construction 27,174 30,146 Real estate, nonresidential 117,941 122,233 Commercial and industrial 11,118 10,497 Other 7,778 7,490 Total $ 234,280 $ 237,878 The age analysis of the loan portfolio, segregated by class of loans, as of June 30, 2023 December 31, 2022, Loans Past Due Greater Number of Day Past Due Than 90 Greater Total Total Days & 30 59 60 89 Than 90 Past Due Current Loans Still Accruing June 30, 2023: Real estate, residential $ 127 $ 202 $ - $ 329 $ 69,940 $ 70,269 $ - Real estate, construction - 92 - 92 27,082 27,174 - Real estate, nonresidential 282 - - 282 117,659 117,941 - Commercial and industrial 15 - - 15 11,103 11,118 - Other 20 4 - 24 7,754 7,778 - Total $ 444 $ 298 $ - $ 742 $ 233,538 $ 234,280 $ - December 31, 2022: Real estate, residential $ 34 $ 49 $ - $ 83 $ 67,429 $ 67,512 $ - Real estate, construction 79 2 - 81 30,065 30,146 - Real estate, nonresidential - - 1,101 1,101 121,132 122,233 - Commercial and industrial - - - - 10,497 10,497 - Other 14 - - 14 7,476 7,490 - Total $ 127 $ 51 $ 1,101 $ 1,279 $ 236,599 $ 237,878 $ - 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 June 30, 2023 December 31, 2022, Loans With A Grade Of: A, B or C S D E F Total June 30, 2023: Real estate, residential $ 69,359 $ 72 $ 724 $ 114 $ - $ 70,269 Real estate, construction 26,769 303 92 10 - 27,174 Real estate, nonresidential 117,511 - 430 - - 117,941 Commercial and industrial 11,118 - - - - 11,118 Other 7,766 - 8 4 - 7,778 Total $ 232,523 $ 375 $ 1,254 $ 128 $ - $ 234,280 December 31, 2022: Real estate, residential $ 66,490 $ 77 $ 822 $ 123 - $ 67,512 Real estate, construction 30,115 - 2 29 - 30,146 Real estate, nonresidential 120,423 - 466 1,344 - 122,233 Commercial and industrial 10,497 - - - - 10,497 Other 7,476 - 7 7 - 7,490 Total $ 235,001 $ 77 $ 1,297 $ 1,503 $ - $ 237,878 Prior to 2020, 2023 2022, not no June 30, 2023 December 31, 2022, no June 30, 2023 December 31, 2022. The following tables further disaggregates credit quality disclosures by amortized cost by class and vintage for term loans and by revolving and revolving converted to amortizing as of June 30, 2023 ( Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total June 30, 2023: Real Estate, Residential Loans: A, B, or C $ 5,883 $ 16,538 $ 12,525 $ 5,339 $ 5,704 $ 18,612 $ 3,764 $ 994 $ 69,359 S - - - - - 72 - - 72 D - - - - - 724 - - 724 E - - - - 19 95 - - 114 F - - - - - - - - - Total Real Estate Residential Loans $ 5,883 $ 16,538 $ 12,525 $ 5,339 $ 5,723 $ 19,503 $ 3,764 $ 994 $ 70,269 Real Estate, Construction Loans: A, B, or C $ 628 $ 2,822 $ 1,909 $ 1,579 $ 41 $ 4,240 $ 15,550 $ - $ 26,769 S - - 303 - - - - - 303 D - - - 92 - - - - 92 E - - - - - 10 - - 10 F - - - - - - - - - Total Real Estate, Construction Loans $ 628 $ 2,822 $ 2,212 $ 1,671 $ 41 $ 4,250 $ 15,550 $ - $ 27,174 Real Estate,Nonresidential Loans: A, B, or C $ 5,209 $ 21,508 $ 11,350 $ 19,332 $ 5,657 $ 39,608 $ 14,847 $ - $ 117,511 S - - - - - - - - - D - - - - - 430 - - 430 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Nonresidential Loans $ 5,209 $ 21,508 $ 11,350 $ 19,332 $ 5,657 $ 40,038 $ 14,847 $ - $ 117,941 Commercial and industrial A, B, or C $ 492 $ 869 $ 899 $ 333 $ 2,881 $ 61 $ 5,583 $ - $ 11,118 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Commercial and Industrial Loans $ 492 $ 869 $ 899 $ 333 $ 2,881 $ 61 $ 5,583 $ - $ 11,118 Consumer/Other Loans A, B, or C $ 2,129 $ 1,808 $ 1,180 $ 860 $ 306 $ 420 $ 1,063 $ - $ 7,766 S - - - - - - - - - D - 8 - - - - - - 8 E - - - 4 - - - - 4 F - - - - - - - - - Total Consumer/Other Loans $ 2,129 $ 1,816 $ 1,180 $ 864 $ 306 $ 420 $ 1,063 $ - $ 7,778 A loan may not June 30, 2023 December 31, 2022, June 30, 2023 December 31, 2022 Real estate, residential $ 83 $ 90 Real estate, nonresidential - 1,344 Other 4 7 Total $ 87 $ 1,441 The following tables further disaggregates nonaccrual disclosures by amortized cost by class and vintage for term loans and by revolving and revolving converted to amortizing as of June 30, 2023 ( Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total June 30, 2023: Real estate, residential $ - $ - $ - $ - $ 20 $ 63 $ - $ - $ 83 Real estate, construction - - - - - - - - - Real estate, nonresidential - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer/Other - - - 4 - - - - 4 Total Loans on Nonaccrual $ - $ - $ - $ 4 $ 20 $ 63 $ - $ - $ 87 Impaired loans, which include loans classified as nonaccrual and troubled debt restructurings, segregated by class of loans, as of June 30, 2023 December 31, 2022, Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized June 30, 2023: With no related allowance recorded: Real estate, residential $ 73 $ 46 $ - $ 112 $ 3 Real estate, construction 86 10 - 18 4 Real estate, nonresidential 325 325 - 339 14 Other 5 4 - 6 - Total 489 385 - 475 21 With a related allowance recorded: Real estate, residential 55 46 40 47 - Total 55 46 40 47 - Total by class of loans: Real estate, residential 128 92 40 159 3 Real estate, construction 86 10 - 18 4 Real estate, nonresidential 325 325 - 339 14 Other 5 4 - 6 - Total $ 544 $ 431 $ 40 $ 522 $ 21 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized December 31, 2022: With no related allowance recorded: Real estate, residential $ 525 $ 500 $ - $ 533 $ 25 Real estate, construction 102 29 - 46 7 Real estate, nonresidential 363 243 - 273 - Other 7 7 - 7 - Total 997 779 - 859 32 With a related allowance recorded: Real estate, residential 57 49 40 50 - Real estate, nonresidential 1,101 1,101 84 1,103 - Total 1,158 1,150 124 1,153 - Total by class of loans: Real estate, residential 525 500 - 533 25 Real estate, construction 159 78 40 96 7 Real estate, nonresidential 1,464 1,344 84 1,376 - Other 7 7 - 7 - Total $ 2,155 $ 1,929 $ 124 $ 2,012 $ 32 The Company had no loan modifications made to borrowers experiencing financial difficulty as of June 30, 2023. |
Note 6 - Allowance for Loan Los
Note 6 - Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | 6. The following tables show activity in the allowance for credit losses by portfolio class for the three six June 30, 2023 2022, January 1, 2023, 326 December 31, 2022 one 1. Transactions in the allowance for credit losses on loans and leases for the three six June 30, 2023 2022, June 30, 2023 2022, Allowance for credit losses Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total For the Six Months Ended June 30, 2023 Allowance for Loan Losses: Beginning balance $ 913 $ 392 $ 1,639 $ 143 $ 251 $ 3,338 Cumulative effect of change in accounting principle 396 (58 ) (215 ) (84 ) (49 ) (10 ) Charge-offs - - (270 ) - (117 ) (387 ) Recoveries - - 487 - 76 563 Net provision for loan losses (660 ) (117 ) 503 8 (14 ) (280 ) Ending Balance-allowance for loan losses $ 649 $ 217 $ 2,144 $ 67 $ 147 $ 3,224 For the Six Months Ended June 30, 2023 Reserve for unfunded lending commitments: Beginning balance $ - $ - $ - $ - $ - $ - Cumulative effect of change in accounting principle 4 30 5 15 18 72 Provision for losses on unfunded commitments 2 8 (1 ) (15 ) (11 ) (17 ) Ending balance-reserve for unfunded commitments $ 6 $ 38 $ 4 $ - $ 7 $ 55 Total allowance for credit losses June 30, 2023 $ 655 $ 255 $ 2,148 $ 67 $ 154 $ 3,279 For the Quarter Ended June 30, 2023 Allowance for Loan Losses: Beginning balance $ 962 $ 145 $ 1,926 $ 86 $ 154 $ 3,273 Charge-offs - - (186 ) - (45 ) (231 ) Recoveries - - 467 - 25 492 Net provision for loan losses (313 ) 72 (63 ) (19 ) 13 (310 ) Ending Balance-allowance for loan losses $ 649 $ 217 $ 2,144 $ 67 $ 147 $ 3,224 For the Quarter Ended June 30, 2023 Reserve for unfunded lending commitments: Beginning balance $ 4 $ 27 $ 4 $ 13 $ 9 $ 57 Provision for losses on unfunded commitments 2 11 - (13 ) (2 ) (2 ) Ending balance-reserve for unfunded commitments $ 6 $ 38 $ 4 $ - $ 7 $ 55 Total allowance for credit losses June 30, 2023 $ 655 $ 255 $ 2,148 $ 67 $ 154 $ 3,279 Allowance for loan losses, June 30, 2023: Individually evaluated $ 45 $ - $ - $ - $ 2 $ 47 Collectively evaluated 604 217 2,144 67 145 3,177 Allowance for loan losses: $ 649 $ 217 $ 2,144 $ 67 $ 147 $ 3,224 Reserve for unfunded lending commitments: Individually evaluated Collectively evaluated 6 38 4 - 7 55 Reserve for unfunded lending commitments: $ 6 $ 38 $ 4 $ - $ 7 $ 55 Total allowance for credit losses, June 30, 2023 $ 655 $ 255 $ 2,148 $ 67 $ 154 $ 3,279 Loans, June 30, 2023: Individually evaluated $ 838 $ 101 $ 431 $ - $ 13 $ 1,383 Collectively evaluated 69,431 27,073 117,510 11,118 7,765 232,897 Total loans, June 30, 2023: $ 70,269 $ 27,174 $ 117,941 $ 11,118 $ 7,778 $ 234,280 The following table further disaggregates gross charge-off disclosures by amortized cost by credit quality indicator, class, and year of origination as of June 30, 2023 ( Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total June 30, 2023: Real estate, nonresidential $ - $ - $ - $ - $ - $ - $ - $ - $ - A,B, or C - - - - - - - - - S - - - - - - - - - D - - - - - - - - - E - - - - - 270 - - 270 F - - - - - - - - - Total Real estate, nonresidential loans $ - $ - $ - $ - $ - $ 270 $ - $ - $ 270 Consumer/Other A,B, or C $ 117 $ - $ - $ - $ - $ - $ - $ - $ 117 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 117 $ - $ - $ - $ - $ - $ - $ - $ 117 Total Gross Loan Chargeoffs: $ 117 $ - $ - $ - $ - $ 270 $ - $ - $ 387 Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total For the Six Months Ended June 30, 2022: Allowance for Loan Losses: Beginning balance $ 873 $ 351 $ 1,781 $ 228 $ 78 $ 3,311 Charge-offs (129 ) (129 ) Recoveries 48 22 74 144 Provision 107 18 (125 ) - 53 53 Ending Balance $ 980 $ 369 $ 1,704 $ 250 $ 76 $ 3,379 For the Quarter Ended June 30, 2022: Allowance for Loan Losses: Beginning Balance $ 880 $ 352 $ 1,805 $ 257 $ 74 $ 3,368 Charge-offs (53 ) (53 ) Recoveries 13 23 36 Provision 100 17 (101 ) (20 ) 32 28 Ending Balance $ 980 $ 369 $ 1,704 $ 250 $ 76 $ 3,379 Allowance for Loan Losses, June 30, 2022: Ending balance: individually evaluated for impairment $ 40 $ $ 84 $ 21 $ $ 145 Ending balance: collectively evaluated for impairment $ 940 $ 369 $ 1,620 $ 229 $ 76 $ 3,234 Total Loans, June 30, 2022: Ending balance: individually evaluated for impairment $ 1,051 $ 966 $ 1,884 $ 21 $ 8 $ 3,930 Ending balance: collectively evaluated for impairment $ 63,474 $ 29,776 $ 116,114 $ 13,075 $ 8,362 $ 230,801 The calculation of the allowance for credit losses under CECL is performed using two |
Note 7 - Deposits
Note 7 - Deposits | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 7. Time deposits of $250,000 June 30, 2023 December 31, 2022, |
Note 8 - Shareholders' Equity
Note 8 - Shareholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 8. On April 20, 2023, May 05, 2023 May 02, 2023. March 11, 2022, March 30, 2022 March 23, 2022. |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements and Disclosures | 6 Months Ended |
Jun. 30, 2023 | |
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 Debt Securities The fair value of held to maturity debt securities is based on quoted market prices. The Company’s held to maturity debt 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 debt 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 fixed 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 not third 3 Other Real Estate In the course of lending operations, Management may third one third 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 non-interest bearing demand and interest bearing savings and demand deposits is the amount reported in the financial statements. The fair value of time deposits is estimated by discounting the cash flows using current rates of time deposits with similar remaining maturities. The cash flows considered in computing the fair value of such deposits are based on contractual maturities, since approximately 98% of time deposits provide for automatic renewal at current interest rates. Borrowings from Federal Home Loan Bank The fair value of Federal Home Loan Bank (“FHLB”) fixed rate borrowings is estimated using discounted cash flows based on current incremental borrowing rates for similar types of borrowing arrangements. The fair value of FHLB variable rate borrowings is estimated to be its carrying value. 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 June 30, 2023 December 31, 2022 Fair Value Measurements Using Total Level 1 Level 2 Level 3 June 30, 2023: U.S. Treasuries $ 94,035 $ - $ 94,035 $ - Mortgage-backed securities 51,829 - 51,829 - Collateralized mortgage obligations 103,090 - 103,090 - States and political subdivisions 80,448 - 80,448 - Total $ 329,402 $ - $ 329,402 $ - December 31, 2022: U.S. Treasuries $ 108,368 $ - $ 108,368 $ - Mortgage-backed securities 56,439 - 56,439 - Collateralized mortgage obligations 107,377 - 107,377 - States and political subdivisions 77,984 - 77,984 - Total $ 350,168 $ - $ 350,168 $ - Impaired loans, which are measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of June 30, 2023 December 31, 2022 Fair Value Measurements Using Total Level 1 Level 2 Level 3 June 30, 2023 $ 7 $ - $ - $ 7 December 31, 2022 1,026 - - 1,026 Other real estate, which is measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of June 30, 2023 December 31, 2022 Fair Value Measurements Using Total Level 1 Level 2 Level 3 June 30, 2023 $ 952 $ - $ - $ 952 December 31, 2022 259 - - 259 The following table presents a summary of changes in the fair value of other real estate which is measured using level 3 For the Six For the Year Months Ended Ended June 30, 2023 December 31, 2022 Balance, beginning of period $ 259 $ 1,891 Loans transferred to ORE 952 - Sales (197 ) (1,477 ) Losses on sales (62 ) - Writedowns - (155 ) Balance, end of period $ 952 $ 259 The carrying value and estimated fair value of financial instruments, by level within the fair value hierarchy, at June 30, 2023 December 31, 2022, Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total June 30, 2023: Financial Assets: Cash and due from banks $ 61,416 $ 61,416 $ - $ - $ 61,416 Available for sale securities 329,402 - 329,402 - 329,402 Held to maturity securities 222,838 - 208,513 - 208,513 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,221 - 2,221 - 2,221 Loans, net 231,056 - - 216,986 216,986 Cash surrender value of life insurance 21,090 - 21,090 - 21,090 Intangible asset 569 - - 569 569 Financial Liabilities: Deposits: Non-interest bearing 213,703 213,703 - - 213,703 Interest bearing 560,002 - - 483,033 483,033 Time Deposits 36,793 - - 35,251 35,251 Borrowings from Federal Home Loan Bank - - - - - Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total December 31, 2022: Financial Assets: Cash and due from banks $ 32,836 $ 32,836 $ - $ - $ 32,836 Available for sale securities 350,168 - 350,168 - 350,168 Held to maturity securities 195,217 - 180,050 - 180,050 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,175 - 2,175 - 2,175 Loans, net 234,540 - - 223,494 223,494 Cash surrender value of life insurance 20,768 - 20,768 - 20,768 Intangible asset 600 - - 600 600 Financial Liabilities: Deposits: Non-interest bearing 198,097 198,097 - - 198,097 Interest bearing 546,565 - - 458,433 458,433 Time deposits 41,118 - - 39,517 39,517 Borrowings from Federal Home Loan Bank - - - - - |
Note 10 - Income Taxes
Note 10 - Income Taxes | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 10. The income tax expense and effective tax rate included in the consolidated statements of income are shown in the table below for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Tax Rate Tax Rate Tax Rate Tax Rate Income Taxes: Current $ 560 15 % $ - 0 % $ 692 10 % $ - 0 % Deferred 251 7 % - 0 % 566 8 % - 0 % Total income tax expense $ 811 22 % $ - 0 % $ 1,258 19 % $ - 0 % For the three six June 30, 2023, three six June 30, 2022, 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
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 Summary of Significant Accounting Policies - The accounting and reporting policies of the Company conform to GAAP and general practices within the banking industry. The Company’s loan portfolio segments as of June 30, 2023 December 31, 2022 |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Real Estate Loans Residential-Residential mortgage loans are susceptible to weakening general economic conditions, increases in unemployment rates, and declining real estate values. Construction-Risk common to commercial construction loans are cost overruns, changes in market demand for property, inadequate long-term financing arrangements, and declines in real estate values. Residential construction loans are susceptible to those same risks as well as those associated with residential mortgage loans. Changes in market demand for property could lead to longer marketing times resulting in higher carrying costs, declining values, and higher interest rates. Nonresidential-Risks to this loan category include industry concentration and the inability to monitor the condition of collateral. Declines in general economic conditions and other events can cause cash flows to fall to levels insufficient to service debt. Also, declines in real estate values and lack of suitable alternative use for the properties. These loans are also susceptible to declines in occupancy rates, business failure, and general economic conditions. Commercial and Industrial-Risk to this loan category include industry concentration and the practical limitations associated with monitoring the condition of the collateral which often consists of inventory, accounts receivable, and other non-real estate assets. Equipment and inventory obsolescence can also pose a risk. Declines in general economic conditions and other events can cause cash flows to fall to levels insufficient to service debt. Other-Risk common to these loans include regulatory risks, unemployment, and changes in local economic conditions as well as the inability to monitor collateral consisting of personal property. |
Revision of Prior Period Financial Statements [Policy Text Block] | Revision of Prior Period Financial Statements – During 2022, 2006, The error at each period end represented 3% or less of our shareholders' equity in all prior periods, and the aggregate net effect of the error correction on shareholders’ equity was minimal. In accordance with the guidance set forth in SEC Staff Accounting Bulletin 99, 108, not 10 June 30, 2022, Revised Consolidated Statements of Shareholders’ Equity for the six June 30, 2022 ( Six Months Ended June 30, 2022 As Reported Adjustment As Revised Beginning balance undivided profits $ 20,911 $ 2,191 $ 23,102 Beginning balance total shareholders' equity 89,538 2,191 91,729 Ending balance undivided profits 22,432 2,265 24,697 Ending balance total shareholders' equity 55,960 2,265 58,225 Revised Consolidated Income Statements for the three six June 30, 2022 ( Three Months Ended June 30, 2022 As Reported Adjustment As Revised Non-Interest Expense $ 5,708 $ (37 ) $ 5,671 Net Income 1,055 37 1,092 Basic and diluted earnings (loss) per share 0.23 - 0.23 Six Months Ended June 30, 2022 As Reported Adjustment As Revised Non-Interest Expense $ 11,170 $ (74 ) $ 11,096 Net Income 1,942 74 2,016 Basic and diluted earnings (loss) per share 0.42 0.01 0.43 |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Update –In March 2023, 2023 02 2023 02” Investments-Equity Method and Joint Ventures (Topic 323 2023 02 2023 02 1 2 not not 2023 02 December 15, 2023, no In March 2022, 2022 02, 326 two 1 310 40 2 326 20. 326 20 50 6, The amendments in this update are effective for fiscal years beginning after December 15, 2022, 310 40, may January 1, 2023 not On January 1, 2023, 326, January 1, 2023 326, There were no 10 December 31, 2022. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification-Certain items previously reported have been reclassified to conform to the current year’s reporting format due to the adoption of CECL. The Company has adopted the CECL (Current Expected Credit Losses) methodology for estimating allowances for credit losses effective January 1, 2023. 2016 13, 326 In general, the Bank uses a broad range of data to estimate expected credit losses under CECL, including information about past events, current conditions, and reasonable and supportable forecasts relevant to assessing the collectability of the cash flows of financial assets. The following represents an overview of key factors regarding CECL: CECL requires the Bank to measure expected credit losses on financial assets carried at amortized cost on a collective or pool basis when similar risk characteristics exist. The Bank has determined that Call Report categories will be utilized, and Management will maintain the option to further segment the portfolio if we deem it beneficial to the analysis. As stated above, CECL also applies to held to maturity debt securities since they are carried at amortized cost and are within the scope of the standard. Therefore, it is the responsibility of management to establish any required allowances for credit losses on the Bank’s held to maturity debt securities as of the date the Bank adopts CECL and to maintain such allowances thereafter. Because CECL requires the Bank to measure expected credit losses on a collective or pool basis when similar risk characteristics exist, held to maturity debt securities that share similar risk characteristics are collectively assessed for credit losses. Estimation Methods for Expected Credit Losses-Accounting Standards Codification (“ASC”) 326, not may not Open Pool or Snapshot Method The starting point for the calculation consists of assets that are outstanding at the end of a given time frame and are made up of assets that were originated in various years. Additional assets may Weighted Average Remaining Maturity (WARM) Method A loss-rate method that estimates expected credit losses over the remaining life of the financial assets and uses a weighted average of the assets’ contractual terms to estimate the pool’s remaining contractual term. The WARM method uses average annual net charge-off rates and the amortization adjusted remaining life plus qualitative adjustments to estimate the ACLs. Qualitative Factor Adjustments The estimation of ACLs is to reflect consideration of all significant factors relevant to the expected collectability of the Bank’s financial assets as of the reporting date. Management begins their expected credit loss estimation process by determining the Bank’s historical loss information or utilizing reliable and relevant peer group (UPBR, State, custom) historical loss proxy data for each segment of financial assets with similar risk characteristics. Management is to consider the need to qualitatively adjust expected credit loss estimates for information not may Historical loss experience generally provides a quantitative starting point for Management’s estimate of expected credit losses. Consistent with FASB ASU Topic 326, may Management is to consider the qualitative factors that are relevant to the Bank as of the reporting date, which may not 1. Nature and volume of the Bank’s financial assets. 2. Existence, growth, and effect of any concentrations of credit. 3. Volume and severity of past due financial assets, the volume of nonaccrual assets, and the volume and severity of adversely classified or graded assets. Adversely classified or graded loans are loans rated “substandard” (or its equivalent) or worse under the institution’s loan classification system. 4. Value of the underlying collateral for loans that are not 5. Bank’s lending policies and procedures, including changes in underwriting standards and practices for collections, write-offs, and recoveries. 6. Quality of the Bank’s credit review function. 7. Experience, ability, and depth of the Bank’s lending, investment, collection, and other relevant management and staff. 8. Effect of other external factors such as the regulatory, legal, and technological environments, competition, and events such as natural disasters. 9. Actual and expected changes in international, national, regional, and local economic and may may may For reporting periods beginning on or after January 1, 2023, may two two six For the collective approach, the Company segments loans into real estate-residential, real estate-nonresidential, real estate-construction and land development, commercial and industrial, and consumer/other, with further segmentation by region and sub-portfolio, as deemed appropriate. Both quantitative and qualitative factors are applied at the portfolio segment levels. The Company applies the practical expedient that permits the exclusion of the accrued interest receivable balance from amortized cost basis of financing receivables. The Company applies the expected future loss rate for each loan portfolio segment to each of the bank’s segments to calculate the allowance for credit losses. CECL also requires capturing estimated credit losses on unfunded commitments that meet certain criteria. Management starts with current gross unfunded commitment levels by category as reported on the call report and then subtracts any unconditionally cancellable amounts, which are not The initial default loss rates are then estimated by taking expected future lifetime loss rates of the loan categories that are included in each unfunded commitment segment and dividing the lifetime rate by their respective WARMs to derive an annual loss rate estimate. The Company elected not 90 The Company establishes specific reserves using an individually evaluated approach for nonaccrual loans, loans modified in troubled debt restructures, loans for which a troubled debt restructure is reasonably expected, and other financial instruments that are deemed to not The CECL standard also requires an assessment of the Company’s held to maturity debt securities for expected credit losses and the available for sale debt securities for credit-related impairment. The Company applies the practical expedient to exclude the accrued interest receivable balance of $1,148,000 from the amortized cost basis of financing receivables and held to maturity debt securities. The allowance for credit losses on held to maturity debt securities is estimated at the individual security level when there is a more than inconsequential risk of default. A separate contra valuation account is available to absorb losses on securities. The allowance for credit loss is limited to the amount by which the fair value is less than the amortized cost basis. The Company evaluates credit impairment on available for sale debt securities at an individual security level. This evaluation is done for securities whose fair value is below amortized cost with a more than inconsequential risk of default and where the Company has assessed the decline in fair value is significant enough to suggest a credit event occurred. Credit events are generally assessed based on adverse conditions specifically related to the security, an industry, or geographic area, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, changes in the financial condition of the underlying loan obligors. The allowance for credit losses for such securities is measured using a discounted cash flow methodology, through which management compares the present value of expected cash flows with the amortized cost basis of the security. The allowance for credit loss is limited to the amount by which the fair value is less than the amortized cost basis. If the Company intends to sell the debt security, or more likely than not The Company reassesses the credit losses at each reporting period and records subsequent changes in the allowance for credit losses on loans, unfunded commitments and securities with a corresponding adjustment recorded in the provision for credit loss expense. The Company adopted ASC 326 January 1, 2023 326 2022 10 The following table details the impact of the adoption of ASC 326 January 1, 2023 ( January 1, 2023 Pre-Adoption Allowance Impact of Adoption Post-Adoption Allowance Cumulative Effect on Retained Earnings Securities held to maturity: U.S. Treasuries $ - $ - $ - $ - States and political subdivisions - 41 41 (32 ) Total $ - $ 41 $ 41 $ (32 ) Loans: Real Estate, residential $ 913 $ 396 $ 1,309 $ (313 ) Real Estate, construction 392 (58 ) 334 46 Real Estate, non-residential 1,639 (215 ) 1,424 170 Commerical & Industrial 143 (84 ) 59 66 Consumer/Other 251 (49 ) 202 39 Total $ 3,338 $ (10 ) $ 3,328 $ 8 Off-balance-sheet credit exposures $ - $ 72 $ 72 $ (57 ) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | Six Months Ended June 30, 2022 As Reported Adjustment As Revised Beginning balance undivided profits $ 20,911 $ 2,191 $ 23,102 Beginning balance total shareholders' equity 89,538 2,191 91,729 Ending balance undivided profits 22,432 2,265 24,697 Ending balance total shareholders' equity 55,960 2,265 58,225 Three Months Ended June 30, 2022 As Reported Adjustment As Revised Non-Interest Expense $ 5,708 $ (37 ) $ 5,671 Net Income 1,055 37 1,092 Basic and diluted earnings (loss) per share 0.23 - 0.23 Six Months Ended June 30, 2022 As Reported Adjustment As Revised Non-Interest Expense $ 11,170 $ (74 ) $ 11,096 Net Income 1,942 74 2,016 Basic and diluted earnings (loss) per share 0.42 0.01 0.43 |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | January 1, 2023 Pre-Adoption Allowance Impact of Adoption Post-Adoption Allowance Cumulative Effect on Retained Earnings Securities held to maturity: U.S. Treasuries $ - $ - $ - $ - States and political subdivisions - 41 41 (32 ) Total $ - $ 41 $ 41 $ (32 ) Loans: Real Estate, residential $ 913 $ 396 $ 1,309 $ (313 ) Real Estate, construction 392 (58 ) 334 46 Real Estate, non-residential 1,639 (215 ) 1,424 170 Commerical & Industrial 143 (84 ) 59 66 Consumer/Other 251 (49 ) 202 39 Total $ 3,338 $ (10 ) $ 3,328 $ 8 Off-balance-sheet credit exposures $ - $ 72 $ 72 $ (57 ) |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Gross Gross Allowance Amortized Unrealized Unrealized for Credit Estimated June 30, 2023 Cost Gains Losses Losses Fair Value Available for sale securities: U.S. Treasuries $ 103,867 $ - $ (9,832 ) $ - $ 94,035 Mortgage-backed securities 56,594 23 (4,788 ) - 51,829 Collateralized mortgage obligations 110,307 - (7,217 ) - 103,090 States and political subdivisions 101,952 - (21,504 ) - 80,448 Total available for sale securities $ 372,720 $ 23 $ (43,341 ) $ - $ 329,402 Gross Gross Allowance Net Amortized Unrealized Unrealized Estimated for Credit Carrying June 30, 2023 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 124,344 $ 31 $ (1,481 ) $ 122,894 $ - $ 124,344 States and political subdivisions 98,535 35 (12,951 ) 85,619 (41 ) 98,494 Total held to maturity securities $ 222,879 $ 66 $ (14,432 ) $ 208,513 $ (41 ) $ 222,838 Gross Gross Allowance Net Amortized Unrealized Unrealized for Credit Carrying December 31, 2022 Cost Gains Losses Losses Amount Available for sale securities: U.S. Treasuries $ 118,782 $ - $ (10,414 ) $ - $ 108,368 Mortgage-backed securities 61,280 36 (4,877 ) - 56,439 Collateralized mortgage obligations 115,436 - (8,059 ) - 107,377 States and political subdivisions 102,428 2 (24,446 ) - 77,984 Total available for sale securities $ 397,926 $ 38 $ (47,796 ) $ - $ 350,168 Gross Gross Allowance Net Amortzied Unrealized Unrealized Estimated for Credit Carrying December 31, 2022 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 94,339 - $ (1,288 ) $ 93,051 - $ 94,339 States and political subdivisions 100,878 52 (13,931 ) 86,999 - 100,878 Total held to maturity securities $ 195,217 $ 52 $ (15,219 ) $ 180,050 $ - $ 195,217 |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block] | Beginning balance, prior to adoption of ASC 326 $ - Impact of adopting ASC 326 41 Credit loss expense (benefit) - Ending balance $ 41 |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Amortized Cost Fair Value Available for sale securities: Due in one year or less $ 14,987 $ 14,864 Due after one year through five years 58,882 53,216 Due after five years through ten years 76,924 64,549 Due after ten years 55,026 41,854 Mortgage-backed securities 56,594 51,829 Collateralized mortgage obligations 110,307 103,090 Totals $ 372,720 $ 329,402 Held to maturity securities: Due in one year or less $ 86,686 $ 86,289 Due after one year through five years 67,109 64,531 Due after five years through ten years 32,854 29,060 Due after ten years 36,230 28,633 Totals $ 222,879 $ 208,513 |
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 June 30, 2023: U.S. Treasuries $ 93,792 $ (406 ) $ 118,108 $ (10,907 ) $ 211,900 $ (11,313 ) Mortgage-backed securities 3,595 (28 ) 41,181 (4,760 ) 44,776 (4,788 ) Collateralized mortgage obligations - - 103,089 (7,217 ) 103,089 (7,217 ) States and political subdivisions 8,118 (342 ) 155,759 (34,113 ) 163,877 (34,455 ) TOTAL $ 105,505 $ (776 ) $ 418,137 $ (56,997 ) $ 523,642 $ (57,773 ) December 31, 2022: U.S. Treasuries $ 132,113 $ (2,158 ) $ 64,533 $ (9,544 ) $ 196,646 $ (11,702 ) Mortgage-backed securities 25,234 (1,755 ) 21,850 (3,122 ) 47,084 (4,877 ) Collateralized mortgage obligations 48,188 (1,610 ) 59,189 (6,449 ) 107,377 (8,059 ) States and political subdivisions 50,025 (7,581 ) 110,881 (30,796 ) 160,906 (38,377 ) TOTAL $ 255,560 $ (13,104 ) $ 256,453 $ (49,911 ) $ 512,013 $ (63,015 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2023 December 31, 2022 Real estate, residential $ 70,269 $ 67,512 Real estate, construction 27,174 30,146 Real estate, nonresidential 117,941 122,233 Commercial and industrial 11,118 10,497 Other 7,778 7,490 Total $ 234,280 $ 237,878 |
Financing Receivable, Past Due [Table Text Block] | Loans Past Due Greater Number of Day Past Due Than 90 Greater Total Total Days & 30 59 60 89 Than 90 Past Due Current Loans Still Accruing June 30, 2023: Real estate, residential $ 127 $ 202 $ - $ 329 $ 69,940 $ 70,269 $ - Real estate, construction - 92 - 92 27,082 27,174 - Real estate, nonresidential 282 - - 282 117,659 117,941 - Commercial and industrial 15 - - 15 11,103 11,118 - Other 20 4 - 24 7,754 7,778 - Total $ 444 $ 298 $ - $ 742 $ 233,538 $ 234,280 $ - December 31, 2022: Real estate, residential $ 34 $ 49 $ - $ 83 $ 67,429 $ 67,512 $ - Real estate, construction 79 2 - 81 30,065 30,146 - Real estate, nonresidential - - 1,101 1,101 121,132 122,233 - Commercial and industrial - - - - 10,497 10,497 - Other 14 - - 14 7,476 7,490 - Total $ 127 $ 51 $ 1,101 $ 1,279 $ 236,599 $ 237,878 $ - |
Financing Receivable Credit Quality Indicators [Table Text Block] | Loans With A Grade Of: A, B or C S D E F Total June 30, 2023: Real estate, residential $ 69,359 $ 72 $ 724 $ 114 $ - $ 70,269 Real estate, construction 26,769 303 92 10 - 27,174 Real estate, nonresidential 117,511 - 430 - - 117,941 Commercial and industrial 11,118 - - - - 11,118 Other 7,766 - 8 4 - 7,778 Total $ 232,523 $ 375 $ 1,254 $ 128 $ - $ 234,280 December 31, 2022: Real estate, residential $ 66,490 $ 77 $ 822 $ 123 - $ 67,512 Real estate, construction 30,115 - 2 29 - 30,146 Real estate, nonresidential 120,423 - 466 1,344 - 122,233 Commercial and industrial 10,497 - - - - 10,497 Other 7,476 - 7 7 - 7,490 Total $ 235,001 $ 77 $ 1,297 $ 1,503 $ - $ 237,878 |
Financing Receivable, Origination Year Credit Quality Indicator [Table Text Block] | Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total June 30, 2023: Real Estate, Residential Loans: A, B, or C $ 5,883 $ 16,538 $ 12,525 $ 5,339 $ 5,704 $ 18,612 $ 3,764 $ 994 $ 69,359 S - - - - - 72 - - 72 D - - - - - 724 - - 724 E - - - - 19 95 - - 114 F - - - - - - - - - Total Real Estate Residential Loans $ 5,883 $ 16,538 $ 12,525 $ 5,339 $ 5,723 $ 19,503 $ 3,764 $ 994 $ 70,269 Real Estate, Construction Loans: A, B, or C $ 628 $ 2,822 $ 1,909 $ 1,579 $ 41 $ 4,240 $ 15,550 $ - $ 26,769 S - - 303 - - - - - 303 D - - - 92 - - - - 92 E - - - - - 10 - - 10 F - - - - - - - - - Total Real Estate, Construction Loans $ 628 $ 2,822 $ 2,212 $ 1,671 $ 41 $ 4,250 $ 15,550 $ - $ 27,174 Real Estate,Nonresidential Loans: A, B, or C $ 5,209 $ 21,508 $ 11,350 $ 19,332 $ 5,657 $ 39,608 $ 14,847 $ - $ 117,511 S - - - - - - - - - D - - - - - 430 - - 430 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Nonresidential Loans $ 5,209 $ 21,508 $ 11,350 $ 19,332 $ 5,657 $ 40,038 $ 14,847 $ - $ 117,941 Commercial and industrial A, B, or C $ 492 $ 869 $ 899 $ 333 $ 2,881 $ 61 $ 5,583 $ - $ 11,118 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Commercial and Industrial Loans $ 492 $ 869 $ 899 $ 333 $ 2,881 $ 61 $ 5,583 $ - $ 11,118 Consumer/Other Loans A, B, or C $ 2,129 $ 1,808 $ 1,180 $ 860 $ 306 $ 420 $ 1,063 $ - $ 7,766 S - - - - - - - - - D - 8 - - - - - - 8 E - - - 4 - - - - 4 F - - - - - - - - - Total Consumer/Other Loans $ 2,129 $ 1,816 $ 1,180 $ 864 $ 306 $ 420 $ 1,063 $ - $ 7,778 |
Financing Receivable, Nonaccrual [Table Text Block] | June 30, 2023 December 31, 2022 Real estate, residential $ 83 $ 90 Real estate, nonresidential - 1,344 Other 4 7 Total $ 87 $ 1,441 |
Nonaccrual Loans By Class and Vintage [Table Text Block] | Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total June 30, 2023: Real estate, residential $ - $ - $ - $ - $ 20 $ 63 $ - $ - $ 83 Real estate, construction - - - - - - - - - Real estate, nonresidential - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer/Other - - - 4 - - - - 4 Total Loans on Nonaccrual $ - $ - $ - $ 4 $ 20 $ 63 $ - $ - $ 87 |
Impaired Financing Receivables [Table Text Block] | Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized June 30, 2023: With no related allowance recorded: Real estate, residential $ 73 $ 46 $ - $ 112 $ 3 Real estate, construction 86 10 - 18 4 Real estate, nonresidential 325 325 - 339 14 Other 5 4 - 6 - Total 489 385 - 475 21 With a related allowance recorded: Real estate, residential 55 46 40 47 - Total 55 46 40 47 - Total by class of loans: Real estate, residential 128 92 40 159 3 Real estate, construction 86 10 - 18 4 Real estate, nonresidential 325 325 - 339 14 Other 5 4 - 6 - Total $ 544 $ 431 $ 40 $ 522 $ 21 Unpaid Average Interest Principal Recorded Related Recorded Income Balance Investment Allowance Investment Recognized December 31, 2022: With no related allowance recorded: Real estate, residential $ 525 $ 500 $ - $ 533 $ 25 Real estate, construction 102 29 - 46 7 Real estate, nonresidential 363 243 - 273 - Other 7 7 - 7 - Total 997 779 - 859 32 With a related allowance recorded: Real estate, residential 57 49 40 50 - Real estate, nonresidential 1,101 1,101 84 1,103 - Total 1,158 1,150 124 1,153 - Total by class of loans: Real estate, residential 525 500 - 533 25 Real estate, construction 159 78 40 96 7 Real estate, nonresidential 1,464 1,344 84 1,376 - Other 7 7 - 7 - Total $ 2,155 $ 1,929 $ 124 $ 2,012 $ 32 |
Note 6 - Allowance for Loan L_2
Note 6 - Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for credit losses Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total For the Six Months Ended June 30, 2023 Allowance for Loan Losses: Beginning balance $ 913 $ 392 $ 1,639 $ 143 $ 251 $ 3,338 Cumulative effect of change in accounting principle 396 (58 ) (215 ) (84 ) (49 ) (10 ) Charge-offs - - (270 ) - (117 ) (387 ) Recoveries - - 487 - 76 563 Net provision for loan losses (660 ) (117 ) 503 8 (14 ) (280 ) Ending Balance-allowance for loan losses $ 649 $ 217 $ 2,144 $ 67 $ 147 $ 3,224 For the Six Months Ended June 30, 2023 Reserve for unfunded lending commitments: Beginning balance $ - $ - $ - $ - $ - $ - Cumulative effect of change in accounting principle 4 30 5 15 18 72 Provision for losses on unfunded commitments 2 8 (1 ) (15 ) (11 ) (17 ) Ending balance-reserve for unfunded commitments $ 6 $ 38 $ 4 $ - $ 7 $ 55 Total allowance for credit losses June 30, 2023 $ 655 $ 255 $ 2,148 $ 67 $ 154 $ 3,279 For the Quarter Ended June 30, 2023 Allowance for Loan Losses: Beginning balance $ 962 $ 145 $ 1,926 $ 86 $ 154 $ 3,273 Charge-offs - - (186 ) - (45 ) (231 ) Recoveries - - 467 - 25 492 Net provision for loan losses (313 ) 72 (63 ) (19 ) 13 (310 ) Ending Balance-allowance for loan losses $ 649 $ 217 $ 2,144 $ 67 $ 147 $ 3,224 For the Quarter Ended June 30, 2023 Reserve for unfunded lending commitments: Beginning balance $ 4 $ 27 $ 4 $ 13 $ 9 $ 57 Provision for losses on unfunded commitments 2 11 - (13 ) (2 ) (2 ) Ending balance-reserve for unfunded commitments $ 6 $ 38 $ 4 $ - $ 7 $ 55 Total allowance for credit losses June 30, 2023 $ 655 $ 255 $ 2,148 $ 67 $ 154 $ 3,279 Allowance for loan losses, June 30, 2023: Individually evaluated $ 45 $ - $ - $ - $ 2 $ 47 Collectively evaluated 604 217 2,144 67 145 3,177 Allowance for loan losses: $ 649 $ 217 $ 2,144 $ 67 $ 147 $ 3,224 Reserve for unfunded lending commitments: Individually evaluated Collectively evaluated 6 38 4 - 7 55 Reserve for unfunded lending commitments: $ 6 $ 38 $ 4 $ - $ 7 $ 55 Total allowance for credit losses, June 30, 2023 $ 655 $ 255 $ 2,148 $ 67 $ 154 $ 3,279 Loans, June 30, 2023: Individually evaluated $ 838 $ 101 $ 431 $ - $ 13 $ 1,383 Collectively evaluated 69,431 27,073 117,510 11,118 7,765 232,897 Total loans, June 30, 2023: $ 70,269 $ 27,174 $ 117,941 $ 11,118 $ 7,778 $ 234,280 Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total For the Six Months Ended June 30, 2022: Allowance for Loan Losses: Beginning balance $ 873 $ 351 $ 1,781 $ 228 $ 78 $ 3,311 Charge-offs (129 ) (129 ) Recoveries 48 22 74 144 Provision 107 18 (125 ) - 53 53 Ending Balance $ 980 $ 369 $ 1,704 $ 250 $ 76 $ 3,379 For the Quarter Ended June 30, 2022: Allowance for Loan Losses: Beginning Balance $ 880 $ 352 $ 1,805 $ 257 $ 74 $ 3,368 Charge-offs (53 ) (53 ) Recoveries 13 23 36 Provision 100 17 (101 ) (20 ) 32 28 Ending Balance $ 980 $ 369 $ 1,704 $ 250 $ 76 $ 3,379 Allowance for Loan Losses, June 30, 2022: Ending balance: individually evaluated for impairment $ 40 $ $ 84 $ 21 $ $ 145 Ending balance: collectively evaluated for impairment $ 940 $ 369 $ 1,620 $ 229 $ 76 $ 3,234 Total Loans, June 30, 2022: Ending balance: individually evaluated for impairment $ 1,051 $ 966 $ 1,884 $ 21 $ 8 $ 3,930 Ending balance: collectively evaluated for impairment $ 63,474 $ 29,776 $ 116,114 $ 13,075 $ 8,362 $ 230,801 |
Financing Receivable, Credit Quality Indicator Write-offs [Table Text Block] | Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total June 30, 2023: Real estate, nonresidential $ - $ - $ - $ - $ - $ - $ - $ - $ - A,B, or C - - - - - - - - - S - - - - - - - - - D - - - - - - - - - E - - - - - 270 - - 270 F - - - - - - - - - Total Real estate, nonresidential loans $ - $ - $ - $ - $ - $ 270 $ - $ - $ 270 Consumer/Other A,B, or C $ 117 $ - $ - $ - $ - $ - $ - $ - $ 117 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 117 $ - $ - $ - $ - $ - $ - $ - $ 117 Total Gross Loan Chargeoffs: $ 117 $ - $ - $ - $ - $ 270 $ - $ - $ 387 |
Note 9 - Fair Value Measureme_2
Note 9 - Fair Value Measurements and Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Total Level 1 Level 2 Level 3 June 30, 2023: U.S. Treasuries $ 94,035 $ - $ 94,035 $ - Mortgage-backed securities 51,829 - 51,829 - Collateralized mortgage obligations 103,090 - 103,090 - States and political subdivisions 80,448 - 80,448 - Total $ 329,402 $ - $ 329,402 $ - December 31, 2022: U.S. Treasuries $ 108,368 $ - $ 108,368 $ - Mortgage-backed securities 56,439 - 56,439 - Collateralized mortgage obligations 107,377 - 107,377 - States and political subdivisions 77,984 - 77,984 - Total $ 350,168 $ - $ 350,168 $ - |
Schedule of Change in Other Real Estate [Table Text Block] | For the Six For the Year Months Ended Ended June 30, 2023 December 31, 2022 Balance, beginning of period $ 259 $ 1,891 Loans transferred to ORE 952 - Sales (197 ) (1,477 ) Losses on sales (62 ) - Writedowns - (155 ) Balance, end of period $ 952 $ 259 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total June 30, 2023: Financial Assets: Cash and due from banks $ 61,416 $ 61,416 $ - $ - $ 61,416 Available for sale securities 329,402 - 329,402 - 329,402 Held to maturity securities 222,838 - 208,513 - 208,513 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,221 - 2,221 - 2,221 Loans, net 231,056 - - 216,986 216,986 Cash surrender value of life insurance 21,090 - 21,090 - 21,090 Intangible asset 569 - - 569 569 Financial Liabilities: Deposits: Non-interest bearing 213,703 213,703 - - 213,703 Interest bearing 560,002 - - 483,033 483,033 Time Deposits 36,793 - - 35,251 35,251 Borrowings from Federal Home Loan Bank - - - - - Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total December 31, 2022: Financial Assets: Cash and due from banks $ 32,836 $ 32,836 $ - $ - $ 32,836 Available for sale securities 350,168 - 350,168 - 350,168 Held to maturity securities 195,217 - 180,050 - 180,050 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,175 - 2,175 - 2,175 Loans, net 234,540 - - 223,494 223,494 Cash surrender value of life insurance 20,768 - 20,768 - 20,768 Intangible asset 600 - - 600 600 Financial Liabilities: Deposits: Non-interest bearing 198,097 198,097 - - 198,097 Interest bearing 546,565 - - 458,433 458,433 Time deposits 41,118 - - 39,517 39,517 Borrowings from Federal Home Loan Bank - - - - - |
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 June 30, 2023 $ 952 $ - $ - $ 952 December 31, 2022 259 - - 259 |
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 June 30, 2023 $ 7 $ - $ - $ 7 December 31, 2022 1,026 - - 1,026 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Tax Rate Tax Rate Tax Rate Tax Rate Income Taxes: Current $ 560 15 % $ - 0 % $ 692 10 % $ - 0 % Deferred 251 7 % - 0 % 566 8 % - 0 % Total income tax expense $ 811 22 % $ - 0 % $ 1,258 19 % $ - 0 % |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2022 | Jun. 30, 2023 | Jan. 01, 2023 | Jun. 30, 2022 | Dec. 31, 2021 | |
Maximum Percentage of Stockholder Equity for Aggregate Errors | 3% | ||||
Financing Receivable, Accrued Interest Balance | $ 1,148,000 | ||||
Retained Earnings (Accumulated Deficit) | $ 31,154,000 | $ 36,045,000 | $ 24,697,000 | $ 23,102,000 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Retained Earnings (Accumulated Deficit) | $ (81,000) |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Revised Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Undivided profits | $ 36,045 | $ 24,697 | $ 36,045 | $ 24,697 | $ 31,154 | $ 23,102 | ||
Beginning balance total shareholders' equity | 64,526 | $ 62,787 | 58,225 | $ 72,898 | 64,526 | 58,225 | $ 55,194 | 91,729 |
Non-Interest Expense | 5,596 | 5,671 | 11,268 | 11,096 | ||||
Net income | $ 2,910 | $ 2,623 | $ 1,092 | $ 924 | $ 5,533 | $ 2,016 | ||
Basic and diluted earnings (loss) per share (in dollars per share) | $ 0.62 | $ 0.23 | $ 1.18 | $ 0.43 | ||||
Previously Reported [Member] | ||||||||
Undivided profits | $ 22,432 | $ 22,432 | 20,911 | |||||
Beginning balance total shareholders' equity | 55,960 | 55,960 | 89,538 | |||||
Non-Interest Expense | 5,708 | 11,170 | ||||||
Net income | $ 1,055 | $ 1,942 | ||||||
Basic and diluted earnings (loss) per share (in dollars per share) | $ 0.23 | $ 0.42 | ||||||
Revision of Prior Period, Adjustment [Member] | ||||||||
Undivided profits | $ 2,265 | $ 2,265 | 2,191 | |||||
Beginning balance total shareholders' equity | 2,265 | 2,265 | $ 2,191 | |||||
Non-Interest Expense | (37) | (74) | ||||||
Net income | $ 37 | $ 74 | ||||||
Basic and diluted earnings (loss) per share (in dollars per share) | $ 0 | $ 0.01 |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation - Schedule of New Accounting Pronouncements and Changes (Details) - USD ($) | Jan. 01, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 0 | $ 41,000 | $ 0 | ||||
Less: Allowance for loan losses | 3,338,000 | 3,224,000 | $ 3,273,000 | 3,338,000 | $ 3,379,000 | $ 3,368,000 | $ 3,311,000 |
Off-balance-sheet credit exposures | 0 | ||||||
Real Estate, Residential [Member] | |||||||
Less: Allowance for loan losses | 913,000 | 649,000 | 962,000 | 913,000 | 980,000 | 880,000 | 873,000 |
Real Estate, Construction [Member] | |||||||
Less: Allowance for loan losses | 392,000 | 217,000 | 145,000 | 392,000 | 369,000 | 352,000 | 351,000 |
Real Estate, Nonresidential [Member] | |||||||
Less: Allowance for loan losses | 1,639,000 | 2,144,000 | 1,926,000 | 1,639,000 | 1,704,000 | 1,805,000 | 1,781,000 |
Commercial And Industrial Loan [Member] | |||||||
Less: Allowance for loan losses | 143,000 | 67,000 | 86,000 | 143,000 | 250,000 | 257,000 | 228,000 |
Other Loan [Member] | |||||||
Less: Allowance for loan losses | 251,000 | 147,000 | $ 154,000 | 251,000 | $ 76,000 | $ 74,000 | $ 78,000 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 41,000 | 41,000 | |||||
Less: Allowance for loan losses | (10,000) | (10,000) | |||||
Off-balance-sheet credit exposures | 72,000 | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Real Estate, Residential [Member] | |||||||
Less: Allowance for loan losses | 396,000 | 396,000 | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Real Estate, Construction [Member] | |||||||
Less: Allowance for loan losses | (58,000) | (58,000) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Real Estate, Nonresidential [Member] | |||||||
Less: Allowance for loan losses | (215,000) | (215,000) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commercial And Industrial Loan [Member] | |||||||
Less: Allowance for loan losses | (84,000) | (84,000) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Other Loan [Member] | |||||||
Less: Allowance for loan losses | (49,000) | (49,000) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | (32,000) | ||||||
Less: Allowance for loan losses | 8,000 | ||||||
Off-balance-sheet credit exposures | (57,000) | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | Real Estate, Residential [Member] | |||||||
Less: Allowance for loan losses | (313,000) | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | Real Estate, Construction [Member] | |||||||
Less: Allowance for loan losses | 46,000 | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | Real Estate, Nonresidential [Member] | |||||||
Less: Allowance for loan losses | 170,000 | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | Commercial And Industrial Loan [Member] | |||||||
Less: Allowance for loan losses | 66,000 | ||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | Other Loan [Member] | |||||||
Less: Allowance for loan losses | 39,000 | ||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 41,000 | ||||||
Less: Allowance for loan losses | 3,328,000 | ||||||
Off-balance-sheet credit exposures | 72,000 | ||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Real Estate, Residential [Member] | |||||||
Less: Allowance for loan losses | 1,309,000 | ||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Real Estate, Construction [Member] | |||||||
Less: Allowance for loan losses | 334,000 | ||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Real Estate, Nonresidential [Member] | |||||||
Less: Allowance for loan losses | 1,424,000 | ||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Commercial And Industrial Loan [Member] | |||||||
Less: Allowance for loan losses | 59,000 | ||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Other Loan [Member] | |||||||
Less: Allowance for loan losses | 202,000 | ||||||
US Treasury Securities [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | 0 | 0 | ||||
US Treasury Securities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | ||||||
US Treasury Securities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | ||||||
US Treasury Securities [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | ||||||
US States and Political Subdivisions Debt Securities [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | $ 41,000 | $ 0 | ||||
US States and Political Subdivisions Debt Securities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 41,000 | ||||||
US States and Political Subdivisions Debt Securities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | (32,000) | ||||||
US States and Political Subdivisions Debt Securities [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | |||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 41,000 |
Note 2 - Earnings Per Share (De
Note 2 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Weighted Average Number of Shares Outstanding, Basic (in shares) | 4,678,186 | 4,678,186 | 4,678,186 | 4,678,186 |
Note 3 - Statements of Cash F_2
Note 3 - Statements of Cash Flows (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 2,806,137 | $ 426,419 |
Income Taxes Paid, Net | 255,000 | 0 |
Real Estate Owned, Transfer to Real Estate Owned | $ 952,000 | $ 0 |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) | 6 Months Ended | |||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jan. 01, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 41,000 | $ 0 | $ 0 | |
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 | 377,680,931 | 398,673,043 | ||
US Treasury Securities [Member] | ||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 0 | 0 | 0 | |
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 36 | |||
Securities, Qualitative Disclosure, Number of Positions | 37 | |||
Collateralized Mortgage-Backed Securities [Member] | ||||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 44 | |||
Securities, Qualitative Disclosure, Number of Positions | 47 | |||
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] | ||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 41,000 | $ 0 | $ 0 | |
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 174 | |||
Securities, Qualitative Disclosure, Number of Positions | 190 |
Note 4 - Investments - Amortize
Note 4 - Investments - Amortized Cost and Fair Value Of Securities (Details) - USD ($) | Jun. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 |
Available for sale securities, amortized cost | $ 372,720,000 | $ 397,926,000 | |
Available for sale securities, gross unrealized gains | 23,000 | 38,000 | |
Available for sale securities, gross unrealized losses | (43,341,000) | (47,796,000) | |
Available for sale securities, fair value | 329,402,000 | 350,168,000 | |
Held to maturity securities, amortized cost | 222,838,000 | 195,217,000 | |
Held to maturity securities, gross unrealized gains | 66,000 | 52,000 | |
Held to maturity securities, gross unrealized losses | (14,432,000) | (15,219,000) | |
Held to maturity securities, fair value | 208,513,000 | 180,050,000 | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 41,000 | $ 0 | 0 |
Held to maturity securities, net carrying amount | 222,838,000 | 195,217,000 | |
Held to maturity securities, allowance for credit loss | (41,000) | 0 | 0 |
Approximation [Member] | |||
Held to maturity securities, amortized cost | 222,879,000 | ||
US Treasury Securities [Member] | |||
Available for sale securities, amortized cost | 103,867,000 | 118,782,000 | |
Available for sale securities, gross unrealized gains | 0 | 0 | |
Available for sale securities, gross unrealized losses | (9,832,000) | (10,414,000) | |
Available for sale securities, fair value | 94,035,000 | 108,368,000 | |
Held to maturity securities, amortized cost | 124,344,000 | 94,339,000 | |
Held to maturity securities, gross unrealized gains | 31,000 | 0 | |
Held to maturity securities, gross unrealized losses | (1,481,000) | (1,288,000) | |
Held to maturity securities, fair value | 122,894,000 | 93,051,000 | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | 0 | 0 |
Held to maturity securities, net carrying amount | 124,344,000 | 94,339,000 | |
Held to maturity securities, allowance for credit loss | 0 | 0 | 0 |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale securities, amortized cost | 56,594,000 | 61,280,000 | |
Available for sale securities, gross unrealized gains | 23,000 | 36,000 | |
Available for sale securities, gross unrealized losses | (4,788,000) | (4,877,000) | |
Available for sale securities, fair value | 51,829,000 | 56,439,000 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale securities, amortized cost | 101,952,000 | 102,428,000 | |
Available for sale securities, gross unrealized gains | 0 | 2,000 | |
Available for sale securities, gross unrealized losses | (21,504,000) | (24,446,000) | |
Available for sale securities, fair value | 80,448,000 | 77,984,000 | |
Held to maturity securities, amortized cost | 98,535,000 | 100,878,000 | |
Held to maturity securities, gross unrealized gains | 35,000 | 52,000 | |
Held to maturity securities, gross unrealized losses | (12,951,000) | (13,931,000) | |
Held to maturity securities, fair value | 85,619,000 | 86,999,000 | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 41,000 | 0 | 0 |
Held to maturity securities, net carrying amount | 98,494,000 | 100,878,000 | |
Held to maturity securities, allowance for credit loss | (41,000) | $ 0 | 0 |
Collateralized Mortgage Obligations [Member] | |||
Available for sale securities, amortized cost | 110,307,000 | 115,436,000 | |
Available for sale securities, gross unrealized gains | 0 | 0 | |
Available for sale securities, gross unrealized losses | (7,217,000) | (8,059,000) | |
Available for sale securities, fair value | $ 103,090,000 | $ 107,377,000 |
Note 4 - Investments - Allowanc
Note 4 - Investments - Allowance For Credit Losses on Held to Maturity Securities (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jan. 01, 2023 | |
Balance | $ 0 | |
Impact of adopting ASC 326 | 41,000 | $ 0 |
Credit loss expense (benefit) | 0 | |
Balance | 41,000 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||
Impact of adopting ASC 326 | 41,000 | $ 41,000 |
Balance | $ 41,000 |
Note 4 - Investments - Amorti_2
Note 4 - Investments - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Available for sale securities, due in one year or less, amortized cost | $ 14,987 | |
Available for sale securities, due in one year or less, fair value | 14,864 | |
Available for sale securities, due after one year through five years, amortized cost | 58,882 | |
Available for sale securities, due after one year through five years, fair value | 53,216 | |
Available for sale securities, due after five years through ten years, amortized cost | 76,924 | |
Available for sale securities, due after five years through ten years, fair value | 64,549 | |
Available for sale securities, due after ten years, amortized cost | 55,026 | |
Available for sale securities, due after ten years, fair value | 41,854 | |
Available-for-sale, maturity, without single maturity date, amortized cost | 110,307 | |
Available-for-sale, maturity, without single maturity date, fair value | 103,090 | |
Available for sale securities, amortized cost | 372,720 | $ 397,926 |
Available for sale securities, fair value | 329,402 | 350,168 |
Held to maturity securities, due in one year or less, amortized cost | 86,686 | |
Held to maturity securities, due in one year or less, fair value | 86,289 | |
Held to maturity securities, due after one years through five years, amortized cost | 67,109 | |
Held to maturity securities, due after one year through five years, fair value | 64,531 | |
Held to maturity securities, due after five years through ten years, amortized cost | 32,854 | |
Held to maturity securities, due after five years through ten years, fair value | 29,060 | |
Held to maturity securities, due after ten years, amortized cost | 36,230 | |
Held to maturity securities, due after ten years, fair value | 28,633 | |
Held to maturity securities, amortized cost | 222,838 | 195,217 |
Held to maturity securities, fair value | 208,513 | 180,050 |
Approximation [Member] | ||
Held to maturity securities, amortized cost | 222,879 | |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale, maturity, without single maturity date, amortized cost | 56,594 | |
Available-for-sale, maturity, without single maturity date, fair value | 51,829 | |
Available for sale securities, amortized cost | 56,594 | 61,280 |
Available for sale securities, fair value | $ 51,829 | $ 56,439 |
Note 4 - Investments - Availabl
Note 4 - Investments - Available for Sale and Held to Maturity Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Less Than Twelve Months, Fair Value | $ 105,505 | $ 255,560 |
Less Than Twelve Months, Gross Unrealized Losses | (776) | (13,104) |
Over Twelve Months, Fair Value | 418,137 | 256,453 |
Over Twelve Months, Gross Unrealized Losses | (56,997) | (49,911) |
Total, Fair Value | 523,642 | 512,013 |
Total, Gross Unrealized Losses | (57,773) | (63,015) |
US Treasury Securities [Member] | ||
Less Than Twelve Months, Fair Value | 93,792 | 132,113 |
Less Than Twelve Months, Gross Unrealized Losses | (406) | (2,158) |
Over Twelve Months, Fair Value | 118,108 | 64,533 |
Over Twelve Months, Gross Unrealized Losses | (10,907) | (9,544) |
Total, Fair Value | 211,900 | 196,646 |
Total, Gross Unrealized Losses | (11,313) | (11,702) |
Collateralized Mortgage-Backed Securities [Member] | ||
Less Than Twelve Months, Fair Value | 3,595 | 25,234 |
Less Than Twelve Months, Gross Unrealized Losses | (28) | (1,755) |
Over Twelve Months, Fair Value | 41,181 | 21,850 |
Over Twelve Months, Gross Unrealized Losses | (4,760) | (3,122) |
Total, Fair Value | 44,776 | 47,084 |
Total, Gross Unrealized Losses | (4,788) | (4,877) |
Collateralized Mortgage Obligations [Member] | ||
Less Than Twelve Months, Fair Value | 0 | 48,188 |
Less Than Twelve Months, Gross Unrealized Losses | 0 | (1,610) |
Over Twelve Months, Fair Value | 103,089 | 59,189 |
Over Twelve Months, Gross Unrealized Losses | (7,217) | (6,449) |
Total, Fair Value | 103,089 | 107,377 |
Total, Gross Unrealized Losses | (7,217) | (8,059) |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Fair Value | 8,118 | 50,025 |
Less Than Twelve Months, Gross Unrealized Losses | (342) | (7,581) |
Over Twelve Months, Fair Value | 155,759 | 110,881 |
Over Twelve Months, Gross Unrealized Losses | (34,113) | (30,796) |
Total, Fair Value | 163,877 | 160,906 |
Total, Gross Unrealized Losses | $ (34,455) | $ (38,377) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) Pure in Thousands | 6 Months Ended |
Jun. 30, 2023 | |
Financing Receivable, Modifications, Number of Contracts | 0 |
Note 5 - Loans - Composition of
Note 5 - Loans - Composition of Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loan receivable, gross | $ 234,280 | $ 237,878 |
Real Estate, Residential [Member] | ||
Loan receivable, gross | 70,269 | 67,512 |
Real Estate, Construction [Member] | ||
Loan receivable, gross | 27,174 | 30,146 |
Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 117,941 | 122,233 |
Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 11,118 | 10,497 |
Other Loan [Member] | ||
Loan receivable, gross | $ 7,778 | $ 7,490 |
Note 5 - Loans - Age Analysis o
Note 5 - Loans - Age Analysis of the Loan Portfolio, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loans | $ 234,280 | $ 237,878 |
Real Estate, Residential [Member] | ||
Loans | 70,269 | 67,512 |
Real Estate, Construction [Member] | ||
Loans | 27,174 | 30,146 |
Real Estate, Nonresidential [Member] | ||
Loans | 117,941 | 122,233 |
Commercial And Industrial Loan [Member] | ||
Loans | 11,118 | 10,497 |
Other Loan [Member] | ||
Loans | 7,778 | 7,490 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 444 | 127 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate, Residential [Member] | ||
Loans | 127 | 34 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate, Construction [Member] | ||
Loans | 0 | 79 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate, Nonresidential [Member] | ||
Loans | 282 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial And Industrial Loan [Member] | ||
Loans | 15 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Other Loan [Member] | ||
Loans | 20 | 14 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 298 | 51 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate, Residential [Member] | ||
Loans | 202 | 49 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate, Construction [Member] | ||
Loans | 92 | 2 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate, Nonresidential [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial And Industrial Loan [Member] | ||
Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Other Loan [Member] | ||
Loans | 4 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 1,101 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate, Residential [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate, Construction [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate, Nonresidential [Member] | ||
Loans | 0 | 1,101 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial And Industrial Loan [Member] | ||
Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Loan [Member] | ||
Loans | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Loans | 742 | 1,279 |
Financial Asset, Past Due [Member] | Real Estate, Residential [Member] | ||
Loans | 329 | 83 |
Financial Asset, Past Due [Member] | Real Estate, Construction [Member] | ||
Loans | 92 | 81 |
Financial Asset, Past Due [Member] | Real Estate, Nonresidential [Member] | ||
Loans | 282 | 1,101 |
Financial Asset, Past Due [Member] | Commercial And Industrial Loan [Member] | ||
Loans | 15 | 0 |
Financial Asset, Past Due [Member] | Other Loan [Member] | ||
Loans | 24 | 14 |
Financial Asset, Not Past Due [Member] | ||
Loans | 233,538 | 236,599 |
Financial Asset, Not Past Due [Member] | Real Estate, Residential [Member] | ||
Loans | 69,940 | 67,429 |
Financial Asset, Not Past Due [Member] | Real Estate, Construction [Member] | ||
Loans | 27,082 | 30,065 |
Financial Asset, Not Past Due [Member] | Real Estate, Nonresidential [Member] | ||
Loans | 117,659 | 121,132 |
Financial Asset, Not Past Due [Member] | Commercial And Industrial Loan [Member] | ||
Loans | 11,103 | 10,497 |
Financial Asset, Not Past Due [Member] | Other Loan [Member] | ||
Loans | $ 7,754 | $ 7,476 |
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Loan receivable, gross | $ 234,280 | $ 237,878 |
Real Estate, Residential [Member] | ||
Loan receivable, gross | 70,269 | 67,512 |
Real Estate, Construction [Member] | ||
Loan receivable, gross | 27,174 | 30,146 |
Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 117,941 | 122,233 |
Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 11,118 | 10,497 |
Other Loan [Member] | ||
Loan receivable, gross | 7,778 | 7,490 |
A, B, or C [Member] | ||
Loan receivable, gross | 232,523 | 235,001 |
A, B, or C [Member] | Real Estate, Residential [Member] | ||
Loan receivable, gross | 69,359 | 66,490 |
A, B, or C [Member] | Real Estate, Construction [Member] | ||
Loan receivable, gross | 26,769 | 30,115 |
A, B, or C [Member] | Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 117,511 | 120,423 |
A, B, or C [Member] | Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 11,118 | 10,497 |
A, B, or C [Member] | Other Loan [Member] | ||
Loan receivable, gross | 7,766 | 7,476 |
S [Member] | ||
Loan receivable, gross | 375 | 77 |
S [Member] | Real Estate, Residential [Member] | ||
Loan receivable, gross | 72 | 77 |
S [Member] | Real Estate, Construction [Member] | ||
Loan receivable, gross | 303 | 0 |
S [Member] | Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 0 | 0 |
S [Member] | Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 0 | 0 |
S [Member] | Other Loan [Member] | ||
Loan receivable, gross | 0 | 0 |
D [Member] | ||
Loan receivable, gross | 1,254 | 1,297 |
D [Member] | Real Estate, Residential [Member] | ||
Loan receivable, gross | 724 | 822 |
D [Member] | Real Estate, Construction [Member] | ||
Loan receivable, gross | 92 | 2 |
D [Member] | Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 430 | 466 |
D [Member] | Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 0 | 0 |
D [Member] | Other Loan [Member] | ||
Loan receivable, gross | 8 | 7 |
E [Member] | ||
Loan receivable, gross | 128 | 1,503 |
E [Member] | Real Estate, Residential [Member] | ||
Loan receivable, gross | 114 | 123 |
E [Member] | Real Estate, Construction [Member] | ||
Loan receivable, gross | 10 | 29 |
E [Member] | Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 0 | 1,344 |
E [Member] | Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 0 | 0 |
E [Member] | Other Loan [Member] | ||
Loan receivable, gross | 4 | 7 |
F [Member] | ||
Loan receivable, gross | 0 | 0 |
F [Member] | Real Estate, Residential [Member] | ||
Loan receivable, gross | 0 | 0 |
F [Member] | Real Estate, Construction [Member] | ||
Loan receivable, gross | 0 | 0 |
F [Member] | Real Estate, Nonresidential [Member] | ||
Loan receivable, gross | 0 | 0 |
F [Member] | Commercial And Industrial Loan [Member] | ||
Loan receivable, gross | 0 | 0 |
F [Member] | Other Loan [Member] | ||
Loan receivable, gross | $ 0 | $ 0 |
Note 5 - Loans - Credit Quality
Note 5 - Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loan receivable, gross | $ 234,280 | $ 237,878 |
A, B, or C [Member] | ||
Loan receivable, gross | 232,523 | 235,001 |
S [Member] | ||
Loan receivable, gross | 375 | 77 |
D [Member] | ||
Loan receivable, gross | 1,254 | 1,297 |
E [Member] | ||
Loan receivable, gross | 128 | 1,503 |
F [Member] | ||
Loan receivable, gross | 0 | 0 |
Real Estate, Residential [Member] | ||
Originated, Current Fiscal Year | 5,883 | |
Originated, Fiscal Year before Current Fiscal Year | 16,538 | |
A, B, or C | 12,525 | |
Originated, Three Years before Current Fiscal Year | 5,339 | |
Originated, Four Years before Current Fiscal Year | 5,723 | |
Originated, More than Five Years before Current Fiscal Year | 19,503 | |
Financing Receivable, Revolving | 3,764 | |
Financing Receivable, Revolving, Converted to Term Loan | 994 | |
Loan receivable, gross | 70,269 | 67,512 |
Real Estate, Residential [Member] | A, B, or C [Member] | ||
Originated, Current Fiscal Year | 5,883 | |
Originated, Fiscal Year before Current Fiscal Year | 16,538 | |
A, B, or C | 12,525 | |
Originated, Three Years before Current Fiscal Year | 5,339 | |
Originated, Four Years before Current Fiscal Year | 5,704 | |
Originated, More than Five Years before Current Fiscal Year | 18,612 | |
Financing Receivable, Revolving | 3,764 | |
Financing Receivable, Revolving, Converted to Term Loan | 994 | |
Loan receivable, gross | 69,359 | 66,490 |
Real Estate, Residential [Member] | S [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 72 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 72 | 77 |
Real Estate, Residential [Member] | D [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 724 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 724 | 822 |
Real Estate, Residential [Member] | E [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 19 | |
Originated, More than Five Years before Current Fiscal Year | 95 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 114 | 123 |
Real Estate, Residential [Member] | F [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Real Estate, Construction [Member] | ||
Originated, Current Fiscal Year | 628 | |
Originated, Fiscal Year before Current Fiscal Year | 2,822 | |
A, B, or C | 2,212 | |
Originated, Three Years before Current Fiscal Year | 1,671 | |
Originated, Four Years before Current Fiscal Year | 41 | |
Originated, More than Five Years before Current Fiscal Year | 4,250 | |
Financing Receivable, Revolving | 15,550 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 27,174 | 30,146 |
Real Estate, Construction [Member] | A, B, or C [Member] | ||
Originated, Current Fiscal Year | 628 | |
Originated, Fiscal Year before Current Fiscal Year | 2,822 | |
A, B, or C | 1,909 | |
Originated, Three Years before Current Fiscal Year | 1,579 | |
Originated, Four Years before Current Fiscal Year | 41 | |
Originated, More than Five Years before Current Fiscal Year | 4,240 | |
Financing Receivable, Revolving | 15,550 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 26,769 | 30,115 |
Real Estate, Construction [Member] | S [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 303 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 303 | 0 |
Real Estate, Construction [Member] | D [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 92 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 92 | 2 |
Real Estate, Construction [Member] | E [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 10 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 10 | 29 |
Real Estate, Construction [Member] | F [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Real Estate, Nonresidential [Member] | ||
Originated, Current Fiscal Year | 5,209 | |
Originated, Fiscal Year before Current Fiscal Year | 21,508 | |
A, B, or C | 11,350 | |
Originated, Three Years before Current Fiscal Year | 19,332 | |
Originated, Four Years before Current Fiscal Year | 5,657 | |
Originated, More than Five Years before Current Fiscal Year | 40,038 | |
Financing Receivable, Revolving | 14,847 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 117,941 | 122,233 |
Real Estate, Nonresidential [Member] | A, B, or C [Member] | ||
Originated, Current Fiscal Year | 5,209 | |
Originated, Fiscal Year before Current Fiscal Year | 21,508 | |
A, B, or C | 11,350 | |
Originated, Three Years before Current Fiscal Year | 19,332 | |
Originated, Four Years before Current Fiscal Year | 5,657 | |
Originated, More than Five Years before Current Fiscal Year | 39,608 | |
Financing Receivable, Revolving | 14,847 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 117,511 | 120,423 |
Real Estate, Nonresidential [Member] | S [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Real Estate, Nonresidential [Member] | D [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 430 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 430 | 466 |
Real Estate, Nonresidential [Member] | E [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 1,344 |
Real Estate, Nonresidential [Member] | F [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Commercial And Industrial Loan [Member] | ||
Originated, Current Fiscal Year | 492 | |
Originated, Fiscal Year before Current Fiscal Year | 869 | |
A, B, or C | 899 | |
Originated, Three Years before Current Fiscal Year | 333 | |
Originated, Four Years before Current Fiscal Year | 2,881 | |
Originated, More than Five Years before Current Fiscal Year | 61 | |
Financing Receivable, Revolving | 5,583 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 11,118 | 10,497 |
Commercial And Industrial Loan [Member] | A, B, or C [Member] | ||
Originated, Current Fiscal Year | 492 | |
Originated, Fiscal Year before Current Fiscal Year | 869 | |
A, B, or C | 899 | |
Originated, Three Years before Current Fiscal Year | 333 | |
Originated, Four Years before Current Fiscal Year | 2,881 | |
Originated, More than Five Years before Current Fiscal Year | 61 | |
Financing Receivable, Revolving | 5,583 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 11,118 | 10,497 |
Commercial And Industrial Loan [Member] | S [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Commercial And Industrial Loan [Member] | D [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Commercial And Industrial Loan [Member] | E [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Commercial And Industrial Loan [Member] | F [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Other Loan [Member] | ||
Originated, Current Fiscal Year | 2,129 | |
Originated, Fiscal Year before Current Fiscal Year | 1,816 | |
A, B, or C | 1,180 | |
Originated, Three Years before Current Fiscal Year | 864 | |
Originated, Four Years before Current Fiscal Year | 306 | |
Originated, More than Five Years before Current Fiscal Year | 420 | |
Financing Receivable, Revolving | 1,063 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 7,778 | 7,490 |
Other Loan [Member] | A, B, or C [Member] | ||
Originated, Current Fiscal Year | 2,129 | |
Originated, Fiscal Year before Current Fiscal Year | 1,808 | |
A, B, or C | 1,180 | |
Originated, Three Years before Current Fiscal Year | 860 | |
Originated, Four Years before Current Fiscal Year | 306 | |
Originated, More than Five Years before Current Fiscal Year | 420 | |
Financing Receivable, Revolving | 1,063 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 7,766 | 7,476 |
Other Loan [Member] | S [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 0 | 0 |
Other Loan [Member] | D [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 8 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 8 | 7 |
Other Loan [Member] | E [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 4 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | 4 | 7 |
Other Loan [Member] | F [Member] | ||
Originated, Current Fiscal Year | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | |
A, B, or C | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | |
Loan receivable, gross | $ 0 | $ 0 |
Note 5 - Loans - Total Loans on
Note 5 - Loans - Total Loans on Nonaccrual (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial non accrual | $ 87 | $ 1,441 |
Real Estate, Residential [Member] | ||
Financial non accrual | 83 | 90 |
Real Estate, Nonresidential [Member] | ||
Financial non accrual | 0 | 1,344 |
Other Sector [Member] | ||
Financial non accrual | $ 4 | $ 7 |
Note 5 - Loans - Nonacrrual Loa
Note 5 - Loans - Nonacrrual Loans By Class and Vintage (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial non accrual | $ 87 | $ 1,441 |
Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 4 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 20 | |
Prior [Member] | ||
Financial non accrual | 63 | |
Revolving Loans [Member] | ||
Financial non accrual | 0 | |
Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | |
Total Nonaccrual Loans [Member] | ||
Financial non accrual | 87 | |
Real Estate, Residential [Member] | ||
Financial non accrual | 83 | 90 |
Real Estate, Residential [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Residential [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Residential [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Residential [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Residential [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 20 | |
Real Estate, Residential [Member] | Prior [Member] | ||
Financial non accrual | 63 | |
Real Estate, Residential [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Residential [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Residential [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 83 | |
Real Estate, Construction [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Prior [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Construction [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | ||
Financial non accrual | 0 | $ 1,344 |
Real Estate, Nonresidential [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Prior [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Prior [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | |
Commercial And Industrial Loan [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 4 | |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Prior [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | |
Consumer Portfolio Segment [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | $ 4 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
With no related allowance recorded, Unpaid Principal Balance | $ 489 | $ 997 |
With no related allowance recorded, Recorded Investment | 385 | 779 |
With no related allowance recorded, Average Recorded Investment | 475 | 859 |
With no related allowance recorded, Interest Income Recognized | 21 | 32 |
With a related allowance recorded, Unpaid Principal Balance | 55 | 1,158 |
With a related allowance recorded, Recorded Investment | 46 | 1,150 |
Related Allowance | 40 | 124 |
With a related allowance recorded, Average Recorded Investment | 47 | 1,153 |
With a related allowance recorded, Interest Income Recognized | 0 | |
Total by class of loans, Unpaid Principal Balance | 544 | 2,155 |
Total by class of loans, Recorded Investment | 431 | 1,929 |
Total by class of loans, Average Recorded Investment | 522 | 2,012 |
Total by class of loans, Interest Income Recognized | 21 | 32 |
Real Estate, Residential [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 73 | 525 |
With no related allowance recorded, Recorded Investment | 46 | 500 |
With no related allowance recorded, Average Recorded Investment | 112 | 533 |
With no related allowance recorded, Interest Income Recognized | 3 | 25 |
With a related allowance recorded, Unpaid Principal Balance | 55 | 57 |
With a related allowance recorded, Recorded Investment | 46 | 49 |
Related Allowance | 40 | 40 |
With a related allowance recorded, Average Recorded Investment | 47 | 50 |
With a related allowance recorded, Interest Income Recognized | 0 | |
Total by class of loans, Unpaid Principal Balance | 128 | 525 |
Total by class of loans, Recorded Investment | 92 | 500 |
Total by class of loans, Average Recorded Investment | 159 | 533 |
Total by class of loans, Interest Income Recognized | 3 | 25 |
Real Estate, Construction [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 86 | 102 |
With no related allowance recorded, Recorded Investment | 10 | 29 |
With no related allowance recorded, Average Recorded Investment | 18 | 46 |
With no related allowance recorded, Interest Income Recognized | 4 | 7 |
Related Allowance | 0 | 40 |
Total by class of loans, Unpaid Principal Balance | 86 | 159 |
Total by class of loans, Recorded Investment | 10 | 78 |
Total by class of loans, Average Recorded Investment | 18 | 96 |
Total by class of loans, Interest Income Recognized | 4 | 7 |
Real Estate, Nonresidential [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 325 | 363 |
With no related allowance recorded, Recorded Investment | 325 | 243 |
With no related allowance recorded, Average Recorded Investment | 339 | 273 |
With no related allowance recorded, Interest Income Recognized | 14 | |
With a related allowance recorded, Unpaid Principal Balance | 1,101 | |
With a related allowance recorded, Recorded Investment | 1,101 | |
Related Allowance | 0 | 84 |
With a related allowance recorded, Average Recorded Investment | 1,103 | |
With a related allowance recorded, Interest Income Recognized | 0 | |
Total by class of loans, Unpaid Principal Balance | 325 | 1,464 |
Total by class of loans, Recorded Investment | 325 | 1,344 |
Total by class of loans, Average Recorded Investment | 339 | 1,376 |
Total by class of loans, Interest Income Recognized | 14 | |
Other Sector [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 5 | |
With no related allowance recorded, Recorded Investment | 4 | |
With no related allowance recorded, Average Recorded Investment | 6 | |
Related Allowance | 0 | |
Total by class of loans, Unpaid Principal Balance | 5 | |
Total by class of loans, Recorded Investment | 4 | |
Total by class of loans, Average Recorded Investment | $ 6 | |
Other Loan [Member] | ||
With no related allowance recorded, Unpaid Principal Balance | 7 | |
With no related allowance recorded, Recorded Investment | 7 | |
With no related allowance recorded, Average Recorded Investment | 7 | |
Total by class of loans, Unpaid Principal Balance | 7 | |
Total by class of loans, Recorded Investment | 7 | |
Total by class of loans, Average Recorded Investment | $ 7 |
Note 6 - Allowance for Loan L_3
Note 6 - Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jan. 01, 2023 | Dec. 31, 2022 | |
Balance | $ 3,273 | $ 3,368 | $ 3,338 | $ 3,311 | ||
Charge-offs | (231) | (53) | (387) | (129) | ||
Recoveries | 492 | 36 | 563 | 144 | ||
Net provision for loan losses | (310) | (280) | ||||
Balance | 3,224 | 3,379 | 3,224 | 3,379 | ||
Provision for losses on unfunded commitments | (312) | 28 | (297) | 53 | ||
Total allowance for credit losses June 30, 2023 | 3,279 | 3,279 | ||||
Charge-offs | 231 | 53 | 387 | 129 | ||
Net provision for loan losses | (310) | (280) | ||||
Beginning balance | 57 | |||||
Ending balance-reserve for unfunded commitments | 55 | 55 | ||||
Individually evaluated | 47 | 145 | 47 | 145 | ||
Collectively evaluated | 3,177 | 3,234 | 3,177 | 3,234 | ||
Allowance for loan losses: | 3,224 | 3,379 | 3,224 | 3,379 | $ 3,338 | $ 3,338 |
Total allowance for credit losses, June 30, 2023 | 3,279 | 3,279 | ||||
Collectively evaluated | 232,897 | 230,801 | 232,897 | 230,801 | ||
Loan receivable, gross | 234,280 | 234,280 | 237,878 | |||
Provision for credit losses | (312) | 28 | (297) | 53 | ||
Ending balance: individually evaluated for impairment | 3,930 | 3,930 | ||||
Unfunded Loan Commitment [Member] | ||||||
Balance | 0 | |||||
Balance | 55 | 55 | ||||
Provision for losses on unfunded commitments | (2) | (17) | ||||
Total allowance for credit losses June 30, 2023 | 3,279 | 3,279 | ||||
Ending balance-reserve for unfunded commitments | 55 | 55 | ||||
Individually evaluated | 1,383 | 1,383 | ||||
Collectively evaluated | 55 | 55 | ||||
Allowance for loan losses: | 55 | 55 | 0 | |||
Total allowance for credit losses, June 30, 2023 | 3,279 | 3,279 | ||||
Provision for credit losses | (2) | (17) | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (10) | |||||
Allowance for loan losses: | (10) | (10) | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 72 | |||||
Allowance for loan losses: | 72 | |||||
Real Estate, Residential [Member] | ||||||
Balance | 962 | 880 | 913 | 873 | ||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Net provision for loan losses | (313) | (660) | ||||
Balance | 649 | 980 | 649 | 980 | ||
Provision for losses on unfunded commitments | 100 | 107 | ||||
Total allowance for credit losses June 30, 2023 | 655 | 655 | ||||
Charge-offs | 0 | 0 | ||||
Net provision for loan losses | (313) | (660) | ||||
Beginning balance | 4 | |||||
Ending balance-reserve for unfunded commitments | 6 | 6 | ||||
Individually evaluated | 45 | 40 | 45 | 40 | ||
Collectively evaluated | 604 | 940 | 604 | 940 | ||
Allowance for loan losses: | 649 | 980 | 649 | 980 | 913 | 913 |
Total allowance for credit losses, June 30, 2023 | 655 | 655 | ||||
Collectively evaluated | 69,431 | 63,474 | 69,431 | 63,474 | ||
Loan receivable, gross | 70,269 | 70,269 | 67,512 | |||
Provision for credit losses | 100 | 107 | ||||
Ending balance: individually evaluated for impairment | 1,051 | 1,051 | ||||
Real Estate, Residential [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 0 | |||||
Balance | 6 | 6 | ||||
Provision for losses on unfunded commitments | 2 | 2 | ||||
Total allowance for credit losses June 30, 2023 | 655 | 655 | ||||
Ending balance-reserve for unfunded commitments | 6 | 6 | ||||
Individually evaluated | 838 | 838 | ||||
Collectively evaluated | 6 | 6 | ||||
Allowance for loan losses: | 6 | 6 | 0 | |||
Total allowance for credit losses, June 30, 2023 | 655 | 655 | ||||
Provision for credit losses | 2 | 2 | ||||
Real Estate, Residential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | 396 | |||||
Allowance for loan losses: | 396 | 396 | ||||
Real Estate, Residential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 4 | |||||
Allowance for loan losses: | 4 | |||||
Real Estate, Construction [Member] | ||||||
Balance | 145 | 352 | 392 | 351 | ||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Net provision for loan losses | 72 | (117) | ||||
Balance | 217 | 369 | 217 | 369 | ||
Provision for losses on unfunded commitments | 17 | 18 | ||||
Total allowance for credit losses June 30, 2023 | 255 | 255 | ||||
Charge-offs | 0 | 0 | ||||
Net provision for loan losses | 72 | (117) | ||||
Beginning balance | 27 | |||||
Ending balance-reserve for unfunded commitments | 38 | 38 | ||||
Individually evaluated | 0 | 0 | ||||
Collectively evaluated | 217 | 369 | 217 | 369 | ||
Allowance for loan losses: | 217 | 369 | 217 | 369 | 392 | 392 |
Total allowance for credit losses, June 30, 2023 | 255 | 255 | ||||
Collectively evaluated | 27,073 | 29,776 | 27,073 | 29,776 | ||
Loan receivable, gross | 27,174 | 27,174 | 30,146 | |||
Provision for credit losses | 17 | 18 | ||||
Ending balance: individually evaluated for impairment | 966 | 966 | ||||
Real Estate, Construction [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 0 | |||||
Balance | 38 | 38 | ||||
Provision for losses on unfunded commitments | 11 | 8 | ||||
Total allowance for credit losses June 30, 2023 | 255 | 255 | ||||
Ending balance-reserve for unfunded commitments | 38 | 38 | ||||
Individually evaluated | 101 | 101 | ||||
Collectively evaluated | 38 | 38 | ||||
Allowance for loan losses: | 38 | 38 | 0 | |||
Total allowance for credit losses, June 30, 2023 | 255 | 255 | ||||
Provision for credit losses | 11 | 8 | ||||
Real Estate, Construction [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (58) | |||||
Allowance for loan losses: | (58) | (58) | ||||
Real Estate, Construction [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 30 | |||||
Allowance for loan losses: | 30 | |||||
Real Estate, Nonresidential [Member] | ||||||
Balance | 1,926 | 1,805 | 1,639 | 1,781 | ||
Charge-offs | (186) | (270) | ||||
Recoveries | 467 | 487 | 48 | |||
Net provision for loan losses | (63) | 503 | ||||
Balance | 2,144 | 1,704 | 2,144 | 1,704 | ||
Provision for losses on unfunded commitments | (101) | (125) | ||||
Total allowance for credit losses June 30, 2023 | 2,148 | 2,148 | ||||
Charge-offs | 186 | 270 | ||||
Net provision for loan losses | (63) | 503 | ||||
Beginning balance | 4 | |||||
Ending balance-reserve for unfunded commitments | 4 | 4 | ||||
Individually evaluated | 0 | 84 | 0 | 84 | ||
Collectively evaluated | 2,144 | 1,620 | 2,144 | 1,620 | ||
Allowance for loan losses: | 2,144 | 1,704 | 2,144 | 1,704 | 1,639 | 1,639 |
Total allowance for credit losses, June 30, 2023 | 2,148 | 2,148 | ||||
Collectively evaluated | 117,510 | 116,114 | 117,510 | 116,114 | ||
Loan receivable, gross | 117,941 | 117,941 | 122,233 | |||
Provision for credit losses | (101) | (125) | ||||
Ending balance: individually evaluated for impairment | 1,884 | 1,884 | ||||
Real Estate, Nonresidential [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 0 | |||||
Balance | 4 | 4 | ||||
Provision for losses on unfunded commitments | 0 | (1) | ||||
Total allowance for credit losses June 30, 2023 | 2,148 | 2,148 | ||||
Ending balance-reserve for unfunded commitments | 4 | 4 | ||||
Individually evaluated | 431 | 431 | ||||
Collectively evaluated | 4 | 4 | ||||
Allowance for loan losses: | 4 | 4 | 0 | |||
Total allowance for credit losses, June 30, 2023 | 2,148 | 2,148 | ||||
Provision for credit losses | 0 | (1) | ||||
Real Estate, Nonresidential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (215) | |||||
Allowance for loan losses: | (215) | (215) | ||||
Real Estate, Nonresidential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 5 | |||||
Allowance for loan losses: | 5 | |||||
Commercial And Industrial Loan [Member] | ||||||
Balance | 86 | 257 | 143 | 228 | ||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 13 | 0 | 22 | ||
Net provision for loan losses | (19) | 8 | ||||
Balance | 67 | 250 | 67 | 250 | ||
Provision for losses on unfunded commitments | (20) | 0 | ||||
Total allowance for credit losses June 30, 2023 | 67 | 67 | ||||
Charge-offs | 0 | 0 | ||||
Net provision for loan losses | (19) | 8 | ||||
Beginning balance | 13 | |||||
Ending balance-reserve for unfunded commitments | 0 | 0 | ||||
Individually evaluated | 0 | 21 | 0 | 21 | ||
Collectively evaluated | 67 | 229 | 67 | 229 | ||
Allowance for loan losses: | 67 | 250 | 67 | 250 | 143 | 143 |
Total allowance for credit losses, June 30, 2023 | 67 | 67 | ||||
Collectively evaluated | 11,118 | 13,075 | 11,118 | 13,075 | ||
Loan receivable, gross | 11,118 | 11,118 | 10,497 | |||
Provision for credit losses | (20) | 0 | ||||
Ending balance: individually evaluated for impairment | 21 | 21 | ||||
Commercial And Industrial Loan [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 0 | |||||
Balance | 0 | 0 | ||||
Provision for losses on unfunded commitments | (13) | (15) | ||||
Total allowance for credit losses June 30, 2023 | 67 | 67 | ||||
Ending balance-reserve for unfunded commitments | 0 | 0 | ||||
Individually evaluated | 0 | 0 | ||||
Collectively evaluated | 0 | 0 | ||||
Allowance for loan losses: | 0 | 0 | 0 | |||
Total allowance for credit losses, June 30, 2023 | 67 | 67 | ||||
Provision for credit losses | (13) | (15) | ||||
Commercial And Industrial Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (84) | |||||
Allowance for loan losses: | (84) | (84) | ||||
Commercial And Industrial Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 15 | |||||
Allowance for loan losses: | 15 | |||||
Other Loan [Member] | ||||||
Balance | 154 | 74 | 251 | 78 | ||
Charge-offs | (45) | (53) | (117) | (129) | ||
Recoveries | 25 | 23 | 76 | 74 | ||
Net provision for loan losses | 13 | (14) | ||||
Balance | 147 | 76 | 147 | 76 | ||
Provision for losses on unfunded commitments | 32 | 53 | ||||
Total allowance for credit losses June 30, 2023 | 154 | 154 | ||||
Charge-offs | 45 | 53 | 117 | 129 | ||
Net provision for loan losses | 13 | (14) | ||||
Beginning balance | 9 | |||||
Ending balance-reserve for unfunded commitments | 7 | 7 | ||||
Individually evaluated | 2 | 2 | ||||
Collectively evaluated | 145 | 76 | 145 | 76 | ||
Allowance for loan losses: | 147 | 76 | 147 | 76 | 251 | 251 |
Total allowance for credit losses, June 30, 2023 | 154 | 154 | ||||
Collectively evaluated | 7,765 | 8,362 | 7,765 | 8,362 | ||
Loan receivable, gross | 7,778 | 7,778 | 7,490 | |||
Provision for credit losses | 32 | 53 | ||||
Ending balance: individually evaluated for impairment | $ 8 | $ 8 | ||||
Other Loan [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | 0 | |||||
Balance | 7 | 7 | ||||
Provision for losses on unfunded commitments | (2) | (11) | ||||
Total allowance for credit losses June 30, 2023 | 154 | 154 | ||||
Ending balance-reserve for unfunded commitments | 7 | 7 | ||||
Individually evaluated | 13 | 13 | ||||
Collectively evaluated | 7 | 7 | ||||
Allowance for loan losses: | 7 | 7 | 0 | |||
Total allowance for credit losses, June 30, 2023 | 154 | 154 | ||||
Provision for credit losses | $ (2) | (11) | ||||
Other Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Balance | (49) | |||||
Allowance for loan losses: | $ (49) | (49) | ||||
Other Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Balance | $ 18 | |||||
Allowance for loan losses: | $ 18 |
Note 6 - Allowance for Credit L
Note 6 - Allowance for Credit Losses - Credit Quality Indicator Write-offs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 231 | $ 53 | $ 387 | $ 129 |
Internally Rated [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 117 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 270 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 387 | |||
Real Estate, Nonresidential [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 186 | 270 | ||
Real Estate, Nonresidential [Member] | A, B, or C [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Real Estate, Nonresidential [Member] | S [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Real Estate, Nonresidential [Member] | D [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Real Estate, Nonresidential [Member] | E [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 270 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 270 | |||
Real Estate, Nonresidential [Member] | F [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Real Estate, Nonresidential [Member] | Internally Rated [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 270 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 270 | |||
Consumer Portfolio Segment [Member] | A, B, or C [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 117 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 117 | |||
Consumer Portfolio Segment [Member] | S [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Consumer Portfolio Segment [Member] | D [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Consumer Portfolio Segment [Member] | E [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Consumer Portfolio Segment [Member] | F [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | |||
Consumer Portfolio Segment [Member] | Internally Rated [Member] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 117 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | |||
Financing Receivable, Revolving, Writeoff | 0 | |||
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 117 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Time Deposits, at or Above FDIC Insurance Limit | $ 7,636,000 | $ 8,773,000 |
Note 8 - Shareholders' Equity (
Note 8 - Shareholders' Equity (Details Textual) - $ / shares | Apr. 20, 2023 | Mar. 11, 2022 |
Dividends Payable, Amount Per Share (in dollars per share) | $ 0.12 | $ 0.09 |
Note 9 - Fair Value Measureme_3
Note 9 - Fair Value Measurements and Disclosures (Details Textual) | Jun. 30, 2023 USD ($) |
Minimum Current Appraisals More Than One Year Old And/ Or Loan Balance | $ 200,000 |
Percentage Of Time Deposits Provide For Automatic Renewal At Current Interest Rates | 98% |
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 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Available for sale securities | $ 329,402 | $ 350,168 | |
Fair Value, Inputs, Level 1 [Member] | |||
Available for sale securities | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | 329,402 | 350,168 | |
Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | 0 | 0 | |
Fair Value, Recurring [Member] | |||
Available for sale securities | 329,402 | 350,168 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale securities | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | 329,402 | 350,168 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | 0 | 0 | |
US Treasury Securities [Member] | |||
Available for sale securities | 94,035 | 108,368 | |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | |||
Available for sale securities | 94,035 | 108,368 | |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale securities | 0 | 0 | |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | 94,035 | 108,368 | |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | 0 | 0 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale securities | 51,829 | 56,439 | |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | |||
Available for sale securities | 51,829 | 56,439 | |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale securities | 0 | 0 | |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | 51,829 | 56,439 | |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | 0 | 0 | |
Collateralized Mortgage Obligations [Member] | |||
Available for sale securities | 103,090 | 107,377 | |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | |||
Available for sale securities | 103,090 | 107,377 | |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale securities | 0 | 0 | |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | 103,090 | 107,377 | |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | 0 | 0 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale securities | 80,448 | 77,984 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | |||
Available for sale securities | 80,448 | 77,984 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale securities | 0 | 0 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale securities | $ 80,448 | 77,984 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale securities | $ 0 | $ 0 |
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Impaired loans, fair value | $ 7 | $ 1,026 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans, fair value | $ 7 | $ 1,026 |
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) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Inputs, Level 3 [Member] | ||
June 30, 2023 | $ 952 | $ 259 |
Fair Value, Nonrecurring [Member] | ||
June 30, 2023 | $ 952 | $ 259 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Balance, beginning of period | $ 259 | $ 1,891 |
Loans transferred to ORE | 952 | 0 |
Sales | (197) | (1,477) |
Losses on sales | (62) | 0 |
Writedowns | 0 | (155) |
Balance, end of period | $ 952 | $ 259 |
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Cash and due from banks | $ 61,416 | $ 32,836 |
Available for sale securities, fair value | 329,402 | 350,168 |
Held to maturity securities, amortized cost | 222,838 | 195,217 |
Held to maturity securities, fair value | 208,513 | 180,050 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 2,221 | 2,175 |
Loans, net | 216,986 | 223,494 |
Cash surrender value of life insurance | 21,090 | 20,768 |
Intangible asset | 569 | 600 |
Non-interest bearing | 213,703 | 198,097 |
Interest bearing | 483,033 | 458,433 |
Time Deposits | 35,251 | 39,517 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 61,416 | 32,836 |
Available for sale securities, fair value | 0 | 0 |
Held to maturity securities, fair value | 0 | 0 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 0 | 0 |
Loans, net | 0 | 0 |
Cash surrender value of life insurance | 0 | 0 |
Intangible asset | 0 | 0 |
Non-interest bearing | 213,703 | 198,097 |
Interest bearing | 0 | 0 |
Time Deposits | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Available for sale securities, fair value | 329,402 | 350,168 |
Held to maturity securities, fair value | 208,513 | 180,050 |
Other investments | 0 | 0 |
Federal Home Loan Bank stock | 2,221 | 2,175 |
Loans, net | 0 | 0 |
Cash surrender value of life insurance | 21,090 | 20,768 |
Intangible asset | 0 | 0 |
Non-interest bearing | 0 | 0 |
Interest bearing | 0 | 0 |
Time Deposits | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | 0 | 0 |
Available for sale securities, fair value | 0 | 0 |
Held to maturity securities, fair value | 0 | 0 |
Other investments | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Loans, net | 216,986 | 223,494 |
Cash surrender value of life insurance | 0 | 0 |
Intangible asset | 569 | 600 |
Non-interest bearing | 0 | 0 |
Interest bearing | 483,033 | 458,433 |
Time Deposits | 35,251 | 39,517 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 61,416 | 32,836 |
Available for sale securities, fair value | 329,402 | 350,168 |
Held to maturity securities, amortized cost | 222,838 | 195,217 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 2,221 | 2,175 |
Loans, net | 231,056 | 234,540 |
Cash surrender value of life insurance | 21,090 | 20,768 |
Intangible asset | 569 | 600 |
Non-interest bearing | 213,703 | 198,097 |
Interest bearing | 560,002 | 546,565 |
Time Deposits | $ 36,793 | $ 41,118 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% |
Note 10 - Income Taxes - Reconc
Note 10 - Income Taxes - Reconciliation of Federal Income Tax Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Current | $ 560 | $ 0 | $ 692 | $ 0 |
Current | 15% | 0% | 10% | 0% |
Deferred | $ 251 | $ 0 | $ 566 | $ 0 |
Deferred | 7% | 0% | 8% | 0% |
Income tax expense | $ 811 | $ 0 | $ 1,258 | $ 0 |
Total income tax (benefit) expense, rate | 22% | 0% | 19% | 0% |