Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 30, 2024 | |
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 | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
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 | 4,661,686 |
Consolidated Statements of Cond
Consolidated Statements of Condition (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and due from banks | $ 108,117 | $ 22,794 |
AvailableForSaleSecuritiesDebtSecurities | 396,160 | 339,477 |
Held to maturity, amortized cost | 145,422 | 150,941 |
Less: Allowance for credit losses on held to maturity securities | 30 | 30 |
Held to maturity securities, net | 145,392 | 150,911 |
Other investments | 350 | 350 |
Federal Home Loan Bank Stock, at cost | 2,368 | 2,334 |
Loans | 236,274 | 238,339 |
Less: Allowance for credit losses on loans and leases | 3,087 | 3,224 |
Loans, net | 233,187 | 235,115 |
Bank premises and equipment, net of accumulated depreciation | 19,601 | 19,470 |
Accrued interest receivable | 3,652 | 3,520 |
Cash surrender value of life insurance | 21,539 | 21,375 |
Intangible asset | 522 | 538 |
Other assets | 1,714 | 1,854 |
Total assets | 932,602 | 797,738 |
Deposits: | ||
Demand, non-interest bearing | 198,543 | 174,933 |
Savings and demand, interest bearing | 585,164 | 483,662 |
Time, $250,000 or more | 6,369 | 7,518 |
Other time deposits | 21,423 | 22,377 |
Total deposits | 811,499 | 688,490 |
Advances from Federal Home Loan Bank | 0 | 18,500 |
Borrowings under Bank Term Funding Program | 30,000 | 0 |
Employee and director benefit plans liabilities | 19,335 | 19,581 |
Other liabilities | 1,105 | 1,884 |
Total liabilities | 861,939 | 728,455 |
Shareholders' Equity: | ||
Common stock, $1 par value, 15,000,000 shares authorized, 4,661,686 shares issued and outstanding at March 31, 2024 and December 31, 2023 | 4,662 | 4,662 |
Surplus | 65,780 | 65,780 |
Undivided profits | 39,989 | 37,574 |
Accumulated other comprehensive loss | (39,768) | (38,733) |
Total shareholders' equity | 70,663 | 69,283 |
Total liabilities and shareholders' equity | $ 932,602 | $ 797,738 |
Consolidated Statements of Co_2
Consolidated Statements of Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized Cost | $ 436,911 | $ 379,195 |
Held to maturity securities, fair value | $ 132,221 | $ 138,523 |
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) | 4,661,686 | 4,661,686 |
Common stock, shares outstanding (in shares) | 4,661,686 | 4,661,686 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest income: | ||
Interest and fees on loans | $ 3,562 | $ 2,977 |
Interest and dividends on securities: | ||
U.S. Treasuries | 1,678 | 1,661 |
Mortgage-backed securities | 728 | 918 |
Collateralized mortgage obligations | 855 | 840 |
States and political subdivisions | 1,037 | 1,106 |
Other investments | 39 | 28 |
Interest on balances due from depository institutions | 1,030 | 907 |
Total interest income | 8,929 | 8,437 |
Interest expense: | ||
Deposits | 2,038 | 1,378 |
Borrowings from Federal Home Loan Bank | 198 | 9 |
Total interest expense | 2,236 | 1,387 |
Net interest income | 6,693 | 7,050 |
Provision for credit losses | 0 | 15 |
Net interest income after provision for credit losses | 6,693 | 7,035 |
Non-interest income: | ||
Increase in cash surrender value of life insurance | 120 | 115 |
Gain (loss) on sale of property, plant and equipment, net | 42 | 0 |
Other income | 145 | 133 |
Total non-interest income | 1,743 | 1,707 |
Non-interest expense: | ||
Salaries and employee benefits | 2,500 | 2,867 |
Net occupancy | 537 | 463 |
Equipment rentals, depreciation and maintenance | 701 | 663 |
FDIC and state banking assessments | 108 | 116 |
Data processing | 314 | 342 |
ATM expense | 254 | 241 |
Other real estate (income) expense | 0 | (10) |
Legal expense | 112 | 129 |
Other expense | 864 | 861 |
Total non-interest expense | 5,390 | 5,672 |
Income before income taxes | 3,046 | 3,070 |
Income tax expense | 631 | 447 |
Net income | $ 2,415 | $ 2,623 |
Basic and diluted earnings per share (in dollars per share) | $ 0.52 | $ 0.56 |
Dividends declared per share (in dollars per share) | $ 0 | $ 0 |
Trust Department Income and Fees [Member] | ||
Non-interest income: | ||
Revenue from contract with customer | $ 618 | $ 590 |
Service Charges on Deposit Accounts [Member] | ||
Non-interest income: | ||
Revenue from contract with customer | $ 818 | $ 869 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 2,415 | $ 2,623 |
Other comprehensive income (loss): | ||
Net unrealized (loss) gain on available for sale securities | (1,035) | 5,051 |
Total other comprehensive income (loss) | (1,035) | 5,051 |
Total comprehensive income | $ 1,380 | $ 7,674 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [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) (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 | 5,051 | 5,051 | ||||||||||
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 | |||||||
Balance (in shares) at Dec. 31, 2023 | 4,661,686 | |||||||||||
Balance at Dec. 31, 2023 | $ 4,662 | 65,780 | 37,574 | (38,733) | 69,283 | |||||||
Net income | 2,415 | 2,415 | ||||||||||
Other comprehensive income | (1,035) | (1,035) | ||||||||||
Balance (in shares) at Mar. 31, 2024 | 4,661,686 | |||||||||||
Balance at Mar. 31, 2024 | $ 4,662 | $ 65,780 | $ 39,989 | $ (39,768) | $ 70,663 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income | $ 2,415 | $ 2,623 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 402 | 369 |
Provision for credit losses | 0 | 15 |
Amortization of intangible asset | 16 | 15 |
(Accretion) amortization of available for sale securities | (570) | (21) |
Amortization (accretion) of held to maturity securities | 51 | (731) |
Gain on sale of bank premises and equipment | (42) | 0 |
Change in accrued interest receivable | (132) | (172) |
Increase in cash surrender value of life insurance | (121) | (115) |
Change in deferred tax expense | 686 | 315 |
Change in other assets | (545) | (539) |
Change in employee and director benefit plan liabilities and other liabilities | (1,025) | (567) |
Net cash provided by operating activities | 1,135 | 1,192 |
Cash flows from investing activities: | ||
Proceeds from maturities of available for sale securities | 51,011 | 17,048 |
Purchases of available for sale securities | (108,159) | (10,651) |
Proceeds from maturities of held to maturity securities | 5,467 | 65,899 |
Purchases of held to maturity securities | 0 | (153,070) |
Purchases of Federal Home Loan Bank stock | (34) | (22) |
Loans, net change | 1,928 | 1,100 |
Proceeds from sale of bank premises and equipment | 61 | 0 |
Investment in cash surrender value of life insurance | (43) | (41) |
Net cash used in investing activities | (50,321) | (80,736) |
Cash flows from financing activities: | ||
Demand and savings deposits, net change | 125,112 | 119,192 |
Time deposits, net change | (2,103) | (2,529) |
Borrowings from Federal Home Loan Bank | 58,200 | 25,600 |
Repayments to Federal Home Loan Bank | (76,700) | (25,600) |
Borrowings under Bank Term Funding Program | 30,000 | 0 |
Net cash provided by financing activities | 134,509 | 116,663 |
Net increase in cash and cash equivalents | 85,323 | 37,119 |
Cash and cash equivalents, beginning of period | 22,794 | 32,836 |
Cash and cash equivalents, end of period | 108,117 | 69,955 |
Bank Premises and Equipment [Member] | ||
Cash flows from investing activities: | ||
Payments to Acquire Property, Plant, and Equipment | $ (552) | $ (999) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, December 31, 2023 March 31, 2023 2023 10 CRITICAL ACCOUNTING POLICIES The results of operations for the quarter ended March 31, 2024, 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 March 31, 2024 December 31, 2023 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, declines in real estate values, and lack of suitable alternative use for 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, changes in local economic conditions, and the inability to monitor collateral consisting of personal property. Accounting Standards Update –In March 2024, 2024 02 2024 02” Codification Improvements-Amendments to Remove References to the Concepts Statements. 2024 02 2024 02 16 2024 02 may not not 2024 02 December 15, 2024. December 15, 2025. not 2024 02 first first no Accounting Standards Update –In March 2024, 2024 01 2024 01” Compensation-Stock Compensation (Topic 718 2024 01 718 not December 15, 2024, December 15, 2025, not 1 2 first no Accounting Standards Update –In December 2023, 2023 09 2023 09” Income Taxes (Topic 740 2023 09 1 2 1 X 210.4 08 2 no December 15, 2024. December 15, 2025. not may There were no 10 December 31, 2023. On January 1, 2023, 326, Under CECL, the allowance for credit losses (ACL) is a valuation account, measured as the difference between the Bank’s amortized cost basis and the net amount expected to be collected on the financial assets (i.e., lifetime credit losses). The CECL methodology described in FASB Accounting Standards Update (ASU) 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 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 considering prepayments 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. 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 business conditions and developments in which the institution operates that affect the collectability of financial assets. Changes in economic and business conditions and developments included in qualitative factor adjustments are limited to those that affect the collectability of the Bank’s financial assets and are relevant to the Bank’s financial asset portfolios. The analysis and methodology used for estimating the ACL includes two For the collective approach, the Bank 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 Bank applies the practical expedient that permits the exclusion of the accrued interest receivable balance from amortized cost basis of financing receivables. The Bank reverses interest income on loans that are placed on nonaccrual status, which is generally when the loan becomes 90 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 Bank maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not The Bank establishes specific reserves using an individually evaluated approach for nonaccrual loans, modified loans, and other financial instruments that are deemed to not The CECL standard also requires an assessment of the Bank’s held to maturity debt securities for expected credit losses and the available for sale debt securities for credit-related impairment. The Bank applies the practical expedient to exclude the accrued interest receivable balance of $1,362,000 from the amortized cost basis of held to maturity debt securities. The allowance for credit losses on held to maturity debt securities is estimated 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. 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 Bank 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 Bank 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 Bank intends to sell the debt security, or more likely than not The Bank 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. |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2024 | |
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 4,661,686 and 4,678,186 for the three March 31, 2024 2023, |
Note 3 - Statements of Cash Flo
Note 3 - Statements of Cash Flows | 3 Months Ended |
Mar. 31, 2024 | |
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 $2,225,558 and $1,384,849 for the three March 31, 2024 2023, three March 31, 2024 2023. three March 31, 2024 2023. |
Note 4 - Investments
Note 4 - Investments | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Effective January 1, 2023, December 31, 2023 March 31, 2024, no no January 1, 2023. December 31, 2023. No March 31, 2024. The amortized cost, fair value and allowance for credit losses related to securities at March 31, 2024 December 31, 2023, Gross Gross Amortized Unrealized Unrealized Estimated March 31, 2024 Cost Gains Losses Fair Value Available for sale securities: U.S. Treasuries $ 192,864 $ 27 $ (9,079 ) $ 183,812 Mortgage-backed securities 50,733 14 (4,830 ) 45,917 Collateralized mortgage obligations 91,859 42 (5,959 ) 85,942 States and political subdivisions 101,455 - (20,966 ) 80,489 Total available for sale securities $ 436,911 $ 83 $ (40,834 ) $ 396,160 Gross Gross Amortized Unrealized Unrealized Estimated December 31, 2023 Cost Gains Losses Fair Value Available for sale securities: U.S. Treasuries $ 123,945 $ 55 $ (8,542 ) $ 115,458 Mortgage-backed securities 52,374 14 (4,603 ) 47,785 Collateralized mortgage obligations 101,316 17 (6,327 ) 95,006 States and political subdivisions 101,560 - (20,332 ) 81,228 Total available for sale securities $ 379,195 $ 86 $ (39,804 ) $ 339,477 There was no March 31, 2024 December 31, 2023. Gross Gross Allowance Net Amortized Unrealized Unrealized Estimated for Credit Carrying March 31, 2024 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 54,958 $ - $ (946 ) $ 54,012 $ - $ 54,958 States and political subdivisions 90,464 23 (12,278 ) 78,209 (30 ) 90,434 Total held to maturity securities $ 145,422 $ 23 $ (13,224 ) $ 132,221 $ (30 ) $ 145,392 Gross Gross Allowance Net Amortized Unrealized Unrealized Estimated for Credit Carrying December 31, 2023 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 59,901 $ 41 $ (907 ) $ 59,035 $ - $ 59,901 States and political subdivisions 91,040 23 (11,575 ) 79,488 (30 ) 91,010 Total held to maturity securities $ 150,941 $ 64 $ (12,482 ) $ 138,523 $ (30 ) $ 150,911 Management analyzed financial data on the state and political subdivision held-to-maturity securities. For the securities that do not third December 31, 2023. No March 31, 2024. The following table shows a rollforward of the allowance for credit losses on held-to-maturity securities for the three March 31, 2024 December 31, 2023 ( State and political subdivisions Balance, December 31, 2023 $ 30 Provision for credit losses - Charge-offs of securities - Recoveries - Balance, March 31, 2024 $ 30 State and political subdivisions Balance, December 31, 2022 $ - Adjustment for adoption of ASU 2016-13 41 Provision for credit losses (11 ) Charge-offs of securities - Recoveries - Balance, December 31, 2023 $ 30 The Company monitors the credit quality of the debt securities held-to-maturity through the use of credit ratings. The Company monitors the credit ratings on a quarterly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at March 31, 2024 December 31, 2023, March 31, 2024 Aaa $ 54,958 Aa1/Aa2/Aa3 38,408 A1/A2 3,187 Baa1/Baa2 1,000 Not rated 47,869 Total $ 145,422 December 31, 2023 Aaa $ 59,901 Aa1/Aa2/Aa3 38,496 A1/A2 3,195 Baa1/Baa2 1,003 Not rated 48,346 Total $ 150,941 At March 31, 2024 December 31, 2023, no 30 no three March 31, 2024 December 31, 2023. The amortized cost and fair value of debt securities at March 31, 2024, ( may Amortized Cost Fair Value Available for sale securities: Due in one year or less $ 98,596 $ 98,264 Due after one year through five years 101,950 92,375 Due after five years through ten years 48,083 39,275 Due after ten years 45,689 34,387 Mortgage-backed securities 50,733 45,917 Collaterized mortgage obligations 91,860 85,942 Total $ 436,911 $ 396,160 Held to maturity securities: Due in one year or less $ 28,366 $ 28,202 Due after one year through five years 54,242 51,704 Due after five years through ten years 40,091 34,952 Due after ten years 22,723 17,363 Total $ 145,422 $ 132,221 Available for sale securities with gross unrealized losses at March 31, 2024 December 31, 2023, Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Unrealized Unrealized Available for Sale Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2024: U.S. Treasuries $ 83,746 $ 100 $ 80,259 $ 8,979 164,005 $ 9,079 Mortgage-backed securities 3,190 19 37,641 4,811 40,831 4,830 Collateralized mortgage obligations 6,151 20 75,239 5,939 81,390 5,959 States and political subdivisions - - 80,349 20,966 80,349 20,966 Total $ 93,087 $ 139 $ 273,488 $ 40,695 $ 366,575 $ 40,834 Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Unrealized Unrealized Available for Sale Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2023: U.S. Treasuries $ 24,750 $ 22 $ 85,660 $ 8,520 110,410 $ 8,542 Mortgage-backed securities 2,811 20 38,521 4,583 41,332 4,603 Collateralized mortgage obligations - - 90,290 6,327 90,290 6,327 States and political subdivisions - - 81,088 20,332 81,088 20,332 Total $ 27,561 $ 42 $ 295,559 $ 39,762 $ 323,120 $ 39,804 At March 31, 2024, There were no sales of available for sale debt securities for the three March 31, 2024 March 31, 2023. Securities with a fair value of $417,261,687 and $296,945,649 at March 31, 2024 December 31, 2023, |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. The composition of the loan portfolio at March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Real estate, residential $ 75,733 $ 74,296 Real estate, construction 27,760 27,353 Real estate, nonresidential 112,759 115,014 Commercial and industrial 10,880 12,496 Other 9,142 9,180 Total $ 236,274 $ 238,339 The age analysis of the loan portfolio, segregated by class of loans, as of March 31, 2024, December 31, 2023 Loans Past Due Greater Number of Days Past Due Than 90 Greater Total Total Days and 30 59 60 89 Than 90 Past Due Current Loans Still Accruing March 31, 2024: Real estate, residential $ 575 $ 89 $ 251 $ 915 $ 74,818 $ 75,733 $ 21 Real estate, construction 68 124 - 192 27,568 27,760 - Real estate, nonresidential 401 - - 401 112,358 112,759 - Commercial and industrial 78 - - 78 10,802 10,880 - Other 10 26 - 36 9,106 9,142 - Total $ 1,132 $ 239 $ 251 $ 1,622 $ 234,652 $ 236,274 $ 21 December 31, 2023: Real estate, residential $ 207 $ 540 $ - $ 747 $ 73,549 $ 74,296 $ - Real estate, construction 131 - - 131 27,222 27,353 - Real estate, nonresidential 58 - - 58 114,956 115,014 - Commercial and industrial 21 - - 21 12,475 12,496 - Other 75 30 - 105 9,075 9,180 - Total $ 492 $ 570 $ - $ 1,062 $ 237,277 $ 238,339 $ - 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 A grade of F is applied to loans which are considered uncollectible and of such little value that their continuance in an active bank is not may 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 March 31, 2024 December 31, 2023 ( Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2024 2023 2022 2021 2020 Prior Loans Term Loans Total March 31, 2024: Real Estate, Residential Loans: A, B, or C $ 2,597 $ 12,332 $ 16,969 $ 11,816 $ 4,685 $ 21,498 $ 4,130 $ 252 $ 74,279 S - - - - - 469 - - 469 D - - - 120 - 513 - - 633 E - - - 189 - 163 - - 352 F - - - - - - - - - Total Real Estate Residential Loans $ 2,597 $ 12,332 $ 16,969 $ 12,125 $ 4,685 $ 22,643 $ 4,130 $ 252 $ 75,733 Real Estate, Construction Loans: A, B, or C $ 1 $ 308 $ 1,558 $ 1,990 $ 1,431 $ 3,935 $ 14,120 $ 472 $ 23,815 S - - - - - - 3,735 - 3,735 D 124 - - 86 - - - - 210 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Construction Loans $ 125 $ 308 $ 1,558 $ 2,076 $ 1,431 $ 3,935 $ 17,855 $ 472 $ 27,760 Real Estate,Nonresidential Loans: A, B, or C $ 436 $ 12,316 $ 21,406 $ 10,760 $ 14,581 $ 38,690 $ 14,475 $ - $ 112,664 S - - - - - - - - - D - - - - - 95 - - 95 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Nonresidential Loans $ 436 $ 12,316 $ 21,406 $ 10,760 $ 14,581 $ 38,785 $ 14,475 $ - $ 112,759 Commercial and industrial A, B, or C $ 642 $ 775 $ 917 $ 795 $ 237 $ 2,713 $ 4,779 $ 22 $ 10,880 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Commercial and Industrial Loans $ 642 $ 775 $ 917 $ 795 $ 237 $ 2,713 $ 4,779 $ 22 $ 10,880 Consumer/Other Loans A, B, or C $ 852 $ 4,849 $ 1,241 $ 719 $ 418 $ 500 $ 523 $ - $ 9,102 S - - - - - - - - - D - 21 9 - 5 - 5 - 40 E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 852 $ 4,870 $ 1,250 $ 719 $ 423 $ 500 $ 528 $ - $ 9,142 Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total December 31, 2023: Real Estate, Residential Loans: A, B, or C $ 11,865 $ 17,053 $ 12,158 $ 4,695 $ 5,451 $ 17,502 $ 4,147 $ 401 $ 73,272 S - - - - - 66 - - 66 D - - 122 - - 623 - - 745 E - - - 45 27 141 - - 213 F - - - - - - - - - Total Real Estate Residential Loans $ 11,865 $ 17,053 $ 12,280 $ 4,740 $ 5,478 $ 18,332 $ 4,147 $ 401 $ 74,296 Real Estate, Construction Loans: A, B, or C $ 1,069 $ 2,119 $ 2,133 $ 1,379 $ 38 $ 3,966 $ 12,827 $ - $ 23,531 S - - - - - - 3,735 - 3,735 D - - - 87 - - - - 87 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Construction Loans $ 1,069 $ 2,119 $ 2,133 $ 1,466 $ 38 $ 3,966 $ 16,562 $ - $ 27,353 Real Estate,Nonresidential Loans: A, B, or C $ 12,387 $ 20,951 $ 11,056 $ 15,008 $ 5,497 $ 34,330 $ 14,959 $ 728 $ 114,916 S - - - - - - - - - D - - - - - 98 - - 98 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Nonresidential Loans $ 12,387 $ 20,951 $ 11,056 $ 15,008 $ 5,497 $ 34,428 $ 14,959 $ 728 $ 115,014 Commercial and industrial A, B, or C $ 850 $ 1,008 $ 831 $ 263 $ 2,742 $ 39 $ 6,763 $ - $ 12,496 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Commercial and Industrial Loans $ 850 $ 1,008 $ 831 $ 263 $ 2,742 $ 39 $ 6,763 $ - $ 12,496 Consumer/Other Loans A, B, or C $ 5,346 $ 1,417 $ 841 $ 439 $ 234 $ 304 $ 508 $ 52 $ 9,141 S - - - - - - - - - D 7 6 - - 18 3 5 - 39 E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 5,353 $ 1,423 $ 841 $ 439 $ 252 $ 307 $ 513 $ 52 $ 9,180 The following table is a summary of the Company’s nonaccrual loans by major categories for the periods indicated (in thousands): CECL March 31, 2024 Nonaccrual Loans with Nonaccrual Loans Total Nonaccrual No Allowance with an Allowance Loans Real estate, residential $ 352 $ - $ 352 Total $ 352 $ - $ 352 CECL December 31, 2023 Nonaccrual Loans with Nonaccrual Loans Total Nonaccrual No Allowance with an Allowance Loans Real estate, residential $ 168 $ 45 $ 213 Real estate, nonresidential - - - Other - - - Total $ 168 $ 45 $ 213 The Company recognized no three March 31, 2024 December 31, 2023. The following table represents the accrued interest receivables written off by reversing interest income during the three March 31, 2024 December 31, 2023 ( March 31, 2024 December 31, 2023 Real estate, residential $ 1 $ 1 Total loans $ 1 $ 1 The Company designates individually evaluated loans on nonaccrual status as collateral-dependent loans, as well as other loans that management of the Company designates as having higher risk. Collateral-dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not not no The following table presents an analysis of collateral-dependent loans of the Company as of March 31, 2024 December 31, 2023 ( March 31, 2024 December 31, 2023 Residential Residential Properties Properties Real estate, residential $ 360 $ 222 Total loans $ 360 $ 222 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 March 31, 2024 December 31, 2023 ( Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2024 2023 2022 2021 2020 Prior Loans Term Loans Total March 31, 2024: Real estate, residential $ - $ - $ - $ 189 $ - $ 163 $ - $ - $ 352 Real estate, construction - - - - - - - - - Real estate, nonresidential - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer/Other - - - - - - - - - Total Loans on Nonaccrual $ - $ - $ - $ 189 $ - $ 163 $ - $ - $ 352 Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total December 31, 2023: Real estate, residential $ - $ - $ - $ - $ - $ 213 $ - $ - $ 213 Real estate, construction - - - - - - - - - Real estate, nonresidential - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer/Other - - - - - - - - - Total Loans on Nonaccrual $ - $ - $ - $ - $ - $ 213 $ - $ - $ 213 The Company had one March 31, 2024 December 31, 2023. The following table shows the amortized cost basis as of March 31, 2024 Term Extension 31-Mar-24 Amortized Cost % of Total Loan Basis Type Financial Effect Real estate, residential $ 19 0.03 % Added a weighted average 3 years to the life of loan, which reduced monthly payment amounts for the borrowers. Provided 3 month payment deferrals to borrowers through our standard deferral program. The 3 monthly payments were added to the end of the original loan terms of these. Total $ 19 The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last 12 Payment Status (Amortized Cost Basis) March 31, 2024 30-89 Days Past 90+ Days Past Current Due Due Real estate, residential $ 19 $ - $ - Total $ 19 $ - $ - |
Note 6 - Allowance for Credit L
Note 6 - Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 January 1, 2023, 326 December 31, 2022 one 1. The calculation of the allowance for credit losses under CECL is performed using two Transactions in the allowance for credit losses on loans and leases for the three March 31, 2024 2023, March 31, 2024 2023, Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total Quarter ended March 31, 2024 Allowance for credit losses on loans and leases Beginning balance $ 971 $ 173 $ 1,807 $ 54 $ 219 $ 3,224 Charge-offs (45 ) - - - (90 ) (135 ) Recoveries - 8 1 - 49 58 Net provision for loan losses (206 ) 31 74 3 38 (60 ) Ending Balance $ 720 $ 212 $ 1,882 $ 57 $ 216 $ 3,087 Reserve for unfunded lending commitments Beginning balance $ 2 $ 34 $ 5 $ 10 $ 4 $ 55 Provision for losses on unfunded commitments - 10 7 1 42 60 Ending balance-reserve for unfunded commitments $ 2 $ 44 $ 12 $ 11 $ 46 $ 115 Total allowance for credit losses on loans and unfunded commitments $ 722 $ 256 $ 1,894 $ 68 $ 262 $ 3,202 Allowance for credit losses on loans and leases Individually evaluated $ - $ - $ - $ - $ 8 $ 8 Collectively evaluated 720 212 1,882 57 208 3,079 Total allowance for credit losses on loans: $ 720 $ 212 $ 1,882 $ 57 $ 216 $ 3,087 Reserve for unfunded lending commitments Individually evaluated $ - $ - $ - $ - $ - $ - Collectively evaluated 2 44 12 11 46 115 Reserve for unfunded lending commitments: 2 44 12 11 46 115 Total allowance for credit losses, March 31, 2024 $ 722 $ 256 $ 1,894 $ 68 $ 262 $ 3,202 Loans, Quarter ended March 31, 2024 Individually evaluated $ 986 $ 209 $ 95 $ - $ 35 $ 1,325 Collectively evaluated 74,747 27,551 112,664 10,880 9,107 234,949 Total loans, March 31, 2024 $ 75,733 $ 27,760 $ 112,759 $ 10,880 $ 9,142 $ 236,274 Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total Quarter ended March 31, 2023 Allowance for credit losses on loans and leases 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 - - (84 ) - (72 ) (156 ) Recoveries - - 20 - 51 71 Net provision for loan losses (347 ) (189 ) 566 27 (27 ) 30 Ending Balance $ 962 $ 145 $ 1,926 $ 86 $ 154 $ 3,273 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 - (3 ) (1 ) (2 ) (9 ) (15 ) Ending balance-reserve for unfunded commitments $ 4 $ 27 $ 4 $ 13 $ 9 $ 57 Total allowance for credit losses on loans and unfunded commitments $ 966 $ 172 $ 1,930 $ 99 $ 163 $ 3,330 Allowance for credit losses on loans and leases Individually evaluated $ 145 $ - $ - $ - $ - $ 145 Collectively evaluated 817 145 1,926 86 154 3,128 Total allowance for credit losses on loans: $ 962 $ 145 $ 1,926 $ 86 $ 154 $ 3,273 Reserve for unfunded lending commitments Individually evaluated $ - $ - $ - $ - $ - $ - Collectively evaluated 4 27 4 13 9 57 Reserve for unfunded lending commitments: 4 27 4 13 9 57 Total allowance for credit losses, March 31, 2023 $ 966 $ 172 $ 1,930 $ 99 $ 163 $ 3,330 Loans, Quarter ended March 31, 2023 Individually evaluated $ 985 $ 111 $ 1,696 $ - $ 16 $ 2,808 Collectively evaluated 68,531 26,716 116,814 14,303 7,526 233,890 Total loans, March 31, 2023 $ 69,516 $ 26,827 $ 118,510 $ 14,303 $ 7,542 $ 236,698 The following table further disaggregates gross charge-off disclosures by amortized cost by credit quality indicator, class, and year of origination for the three March 31, 2024 March 31, 2023 ( Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2024 2023 2022 2021 2020 Prior Loans Term Loans Total March 31, 2024: Real estate, residential $ - $ - $ - $ - $ - $ - $ - $ - $ - A,B, or C - - - - - - - - - S - - - - - - - - - D - - - - - - - - - E - - - - - 45 - - 45 F - - - - - - - - - Total Real estate, nonresidential loans $ - $ - $ - $ - $ - $ 45 $ - $ - $ 45 Consumer/Other A,B, or C $ - $ - $ - $ - $ - $ - $ - $ - $ - S - - - - - - - - - D 52 7 - - - 11 - - 70 E - - 20 - - - - - 20 F - - - - - - - - - Total Consumer/Other Loans $ 52 $ 7 $ 20 $ - $ - $ 11 $ - $ - $ 90 Total Gross Loan Chargeoffs: $ 52 $ 7 $ 20 $ - $ - $ 56 $ - $ - $ 135 Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total March 31, 2023: Real estate, nonresidential $ - $ - $ - $ - $ - $ - $ - $ - $ - A,B, or C - - - - - - - - - S - - - - - - - - - D - - - - - - - - - E - - - - - 84 - - 84 F - - - - - - - - - Total Real estate, nonresidential loans $ - $ - $ - $ - $ - $ 84 $ - $ - $ 84 Consumer/Other A,B, or C $ 72 $ - $ - $ - $ - $ - $ - $ - $ 72 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 72 $ - $ - $ - $ - $ - $ - $ - $ 72 Total Gross Loan Chargeoffs: $ 72 $ - $ - $ - $ - $ 84 $ - $ - $ 156 |
Note 7 - Shareholders' Equity
Note 7 - Shareholders' Equity | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 7. There were no dividends declared during the three March 31, 2024 March 31, 2023. |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements and Disclosures | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. 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. Investments The fair value of available for sale securities and held to maturity securities is based on quoted market prices. The Company’s available for sale and held to maturity securities are reported at their amortized cost, and their estimated fair value, which is determined utilizing several sources, is disclosed in the financial statements and footnotes. The primary source is ICE Data Pricing and Reference Date, LLC (“ICE”) which purchased Interactive Data Corporation (“IDC”) but kept the IDC methodologies. Those methodologies include utilizing pricing models that vary based on asset class and include available trade, bid and other market information and whose methodology includes broker quotes, proprietary models and vast descriptive databases. Another source for determining fair value is matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark securities. The Company’s available for sale securities and held to maturity securities for which fair value is determined through the use of such pricing models and matrix pricing are classified as Level 2 Other Investments The carrying amount shown as other investments approximates fair value. Federal Home Loan Bank Stock The carrying amount shown as Federal Home Loan Bank Stock approximates fair value. Loans The fair value of 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 3 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 March 31, 2024 December 31, 2023, Fair Value Measurements Using Total Level 1 Level 2 Level 3 March 31, 2024: U.S. Treasuries $ 183,812 $ - $ 183,812 $ - Mortgage-backed securities 45,917 - 45,917 - Collateralized mortgage obligations 85,942 - 85,942 - States and political subdivisions 80,489 - 80,489 - Total $ 396,160 $ - $ 396,160 $ - December 31, 2023: U.S. Treasuries $ 115,458 $ - $ 115,458 $ - Mortgage-backed securities 47,785 - 47,785 - Collateralized mortgage obligations 95,006 - 95,006 - States and political subdivisions 81,228 - 81,228 - Total $ 339,477 $ - $ 339,477 $ - Collateral dependent loans, which are measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of March 31, 2024 December 31, 2023 Fair Value Measurements Using Total Level 1 Level 2 Level 3 March 31, 2024 $ - $ - $ - $ - December 31, 2023 $ 6 $ - $ - $ 6 Other real estate, which is measured at fair value on a non-recurring basis, by level within the fair value hierarchy as of March 31, 2024 December 31, 2023 Fair Value Measurements Using Total Level 1 Level 2 Level 3 March 31, 2024 $ - $ - $ - $ - December 31, 2023 - - - - The following table presents a summary of changes in the fair value of other real estate which is measured using Level 3 March 31, 2024 December 31, 2023 Balance, beginning of year $ - $ 259 Loans transferred to ORE - 952 Sales - (1,114 ) Write-downs - (97 ) Balance, end of year $ - $ - The carrying value and estimated fair value of financial instruments, by level within the fair value hierarchy, at March 31, 2024 December 31, 2023 Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total March 31, 2024: Financial Assets: Cash and due from banks $ 108,117 $ 108,117 $ - $ - $ 108,117 Available for sale securities 396,160 - 396,160 - 396,160 Held to maturity securities, net 145,392 - 132,221 - 132,221 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,368 - 2,368 - 2,368 Loans, net 233,187 - - 220,748 220,748 Financial Liabilities: Deposits: Non-interest bearing 198,543 198,543 - - 198,543 Interest bearing 585,164 - - 527,707 527,707 Time deposits 27,792 - - 26,913 26,913 Borrowings under Bank Term Funding Program 30,000 - 30,000 - 30,000 Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total December 31, 2023: Financial Assets: Cash and due from banks $ 22,794 $ 22,794 $ - $ - $ 22,794 Available for sale securities 339,477 - 339,477 - 339,477 Held to maturity securities, net 150,911 - 138,523 - 138,523 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,334 - 2,334 - 2,334 Loans, net 235,115 - - 221,896 221,896 Financial Liabilities: Deposits: Non-interest bearing 174,933 174,933 - - 174,933 Interest bearing 483,662 - - 424,398 424,398 Time deposits 29,895 - - 28,939 28,939 Borrowings from Federal Home Loan Bank 18,500 - 18,500 - 18,500 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. 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 March 31, 2024 2023 Tax Rate Tax Rate Income Taxes: Current $ 561 19 % $ 132 4 % Deferred 70 2 % 315 11 % Total income tax expense $ 631 21 % $ 447 15 % For the three March 31, 2024, three March 31, 2023, |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | Item 5: None. |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
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 |
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, declines in real estate values, and lack of suitable alternative use for 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, changes in local economic conditions, and the inability to monitor collateral consisting of personal property. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Update –In March 2024, 2024 02 2024 02” Codification Improvements-Amendments to Remove References to the Concepts Statements. 2024 02 2024 02 16 2024 02 may not not 2024 02 December 15, 2024. December 15, 2025. not 2024 02 first first no Accounting Standards Update –In March 2024, 2024 01 2024 01” Compensation-Stock Compensation (Topic 718 2024 01 718 not December 15, 2024, December 15, 2025, not 1 2 first no Accounting Standards Update –In December 2023, 2023 09 2023 09” Income Taxes (Topic 740 2023 09 1 2 1 X 210.4 08 2 no December 15, 2024. December 15, 2025. not may There were no 10 December 31, 2023. On January 1, 2023, 326, Under CECL, the allowance for credit losses (ACL) is a valuation account, measured as the difference between the Bank’s amortized cost basis and the net amount expected to be collected on the financial assets (i.e., lifetime credit losses). The CECL methodology described in FASB Accounting Standards Update (ASU) 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 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 considering prepayments 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. 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 business conditions and developments in which the institution operates that affect the collectability of financial assets. Changes in economic and business conditions and developments included in qualitative factor adjustments are limited to those that affect the collectability of the Bank’s financial assets and are relevant to the Bank’s financial asset portfolios. The analysis and methodology used for estimating the ACL includes two For the collective approach, the Bank 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 Bank applies the practical expedient that permits the exclusion of the accrued interest receivable balance from amortized cost basis of financing receivables. The Bank reverses interest income on loans that are placed on nonaccrual status, which is generally when the loan becomes 90 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 Bank maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not The Bank establishes specific reserves using an individually evaluated approach for nonaccrual loans, modified loans, and other financial instruments that are deemed to not The CECL standard also requires an assessment of the Bank’s held to maturity debt securities for expected credit losses and the available for sale debt securities for credit-related impairment. The Bank applies the practical expedient to exclude the accrued interest receivable balance of $1,362,000 from the amortized cost basis of held to maturity debt securities. The allowance for credit losses on held to maturity debt securities is estimated 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. 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 Bank 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 Bank 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 Bank intends to sell the debt security, or more likely than not The Bank 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. |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Estimated March 31, 2024 Cost Gains Losses Fair Value Available for sale securities: U.S. Treasuries $ 192,864 $ 27 $ (9,079 ) $ 183,812 Mortgage-backed securities 50,733 14 (4,830 ) 45,917 Collateralized mortgage obligations 91,859 42 (5,959 ) 85,942 States and political subdivisions 101,455 - (20,966 ) 80,489 Total available for sale securities $ 436,911 $ 83 $ (40,834 ) $ 396,160 Gross Gross Amortized Unrealized Unrealized Estimated December 31, 2023 Cost Gains Losses Fair Value Available for sale securities: U.S. Treasuries $ 123,945 $ 55 $ (8,542 ) $ 115,458 Mortgage-backed securities 52,374 14 (4,603 ) 47,785 Collateralized mortgage obligations 101,316 17 (6,327 ) 95,006 States and political subdivisions 101,560 - (20,332 ) 81,228 Total available for sale securities $ 379,195 $ 86 $ (39,804 ) $ 339,477 Gross Gross Allowance Net Amortized Unrealized Unrealized Estimated for Credit Carrying March 31, 2024 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 54,958 $ - $ (946 ) $ 54,012 $ - $ 54,958 States and political subdivisions 90,464 23 (12,278 ) 78,209 (30 ) 90,434 Total held to maturity securities $ 145,422 $ 23 $ (13,224 ) $ 132,221 $ (30 ) $ 145,392 Gross Gross Allowance Net Amortized Unrealized Unrealized Estimated for Credit Carrying December 31, 2023 Cost Gains Losses Fair Value Losses Amount Held to maturity securities: U.S. Treasuries $ 59,901 $ 41 $ (907 ) $ 59,035 $ - $ 59,901 States and political subdivisions 91,040 23 (11,575 ) 79,488 (30 ) 91,010 Total held to maturity securities $ 150,941 $ 64 $ (12,482 ) $ 138,523 $ (30 ) $ 150,911 |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block] | State and political subdivisions Balance, December 31, 2023 $ 30 Provision for credit losses - Charge-offs of securities - Recoveries - Balance, March 31, 2024 $ 30 State and political subdivisions Balance, December 31, 2022 $ - Adjustment for adoption of ASU 2016-13 41 Provision for credit losses (11 ) Charge-offs of securities - Recoveries - Balance, December 31, 2023 $ 30 |
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block] | March 31, 2024 Aaa $ 54,958 Aa1/Aa2/Aa3 38,408 A1/A2 3,187 Baa1/Baa2 1,000 Not rated 47,869 Total $ 145,422 December 31, 2023 Aaa $ 59,901 Aa1/Aa2/Aa3 38,496 A1/A2 3,195 Baa1/Baa2 1,003 Not rated 48,346 Total $ 150,941 |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Amortized Cost Fair Value Available for sale securities: Due in one year or less $ 98,596 $ 98,264 Due after one year through five years 101,950 92,375 Due after five years through ten years 48,083 39,275 Due after ten years 45,689 34,387 Mortgage-backed securities 50,733 45,917 Collaterized mortgage obligations 91,860 85,942 Total $ 436,911 $ 396,160 Held to maturity securities: Due in one year or less $ 28,366 $ 28,202 Due after one year through five years 54,242 51,704 Due after five years through ten years 40,091 34,952 Due after ten years 22,723 17,363 Total $ 145,422 $ 132,221 |
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 Available for Sale Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2024: U.S. Treasuries $ 83,746 $ 100 $ 80,259 $ 8,979 164,005 $ 9,079 Mortgage-backed securities 3,190 19 37,641 4,811 40,831 4,830 Collateralized mortgage obligations 6,151 20 75,239 5,939 81,390 5,959 States and political subdivisions - - 80,349 20,966 80,349 20,966 Total $ 93,087 $ 139 $ 273,488 $ 40,695 $ 366,575 $ 40,834 Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Unrealized Unrealized Available for Sale Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2023: U.S. Treasuries $ 24,750 $ 22 $ 85,660 $ 8,520 110,410 $ 8,542 Mortgage-backed securities 2,811 20 38,521 4,583 41,332 4,603 Collateralized mortgage obligations - - 90,290 6,327 90,290 6,327 States and political subdivisions - - 81,088 20,332 81,088 20,332 Total $ 27,561 $ 42 $ 295,559 $ 39,762 $ 323,120 $ 39,804 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2024 December 31, 2023 Real estate, residential $ 75,733 $ 74,296 Real estate, construction 27,760 27,353 Real estate, nonresidential 112,759 115,014 Commercial and industrial 10,880 12,496 Other 9,142 9,180 Total $ 236,274 $ 238,339 |
Financing Receivable, Past Due [Table Text Block] | Loans Past Due Greater Number of Days Past Due Than 90 Greater Total Total Days and 30 59 60 89 Than 90 Past Due Current Loans Still Accruing March 31, 2024: Real estate, residential $ 575 $ 89 $ 251 $ 915 $ 74,818 $ 75,733 $ 21 Real estate, construction 68 124 - 192 27,568 27,760 - Real estate, nonresidential 401 - - 401 112,358 112,759 - Commercial and industrial 78 - - 78 10,802 10,880 - Other 10 26 - 36 9,106 9,142 - Total $ 1,132 $ 239 $ 251 $ 1,622 $ 234,652 $ 236,274 $ 21 December 31, 2023: Real estate, residential $ 207 $ 540 $ - $ 747 $ 73,549 $ 74,296 $ - Real estate, construction 131 - - 131 27,222 27,353 - Real estate, nonresidential 58 - - 58 114,956 115,014 - Commercial and industrial 21 - - 21 12,475 12,496 - Other 75 30 - 105 9,075 9,180 - Total $ 492 $ 570 $ - $ 1,062 $ 237,277 $ 238,339 $ - |
Financing Receivable, Origination Year Credit Quality Indicator [Table Text Block] | Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2024 2023 2022 2021 2020 Prior Loans Term Loans Total March 31, 2024: Real Estate, Residential Loans: A, B, or C $ 2,597 $ 12,332 $ 16,969 $ 11,816 $ 4,685 $ 21,498 $ 4,130 $ 252 $ 74,279 S - - - - - 469 - - 469 D - - - 120 - 513 - - 633 E - - - 189 - 163 - - 352 F - - - - - - - - - Total Real Estate Residential Loans $ 2,597 $ 12,332 $ 16,969 $ 12,125 $ 4,685 $ 22,643 $ 4,130 $ 252 $ 75,733 Real Estate, Construction Loans: A, B, or C $ 1 $ 308 $ 1,558 $ 1,990 $ 1,431 $ 3,935 $ 14,120 $ 472 $ 23,815 S - - - - - - 3,735 - 3,735 D 124 - - 86 - - - - 210 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Construction Loans $ 125 $ 308 $ 1,558 $ 2,076 $ 1,431 $ 3,935 $ 17,855 $ 472 $ 27,760 Real Estate,Nonresidential Loans: A, B, or C $ 436 $ 12,316 $ 21,406 $ 10,760 $ 14,581 $ 38,690 $ 14,475 $ - $ 112,664 S - - - - - - - - - D - - - - - 95 - - 95 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Nonresidential Loans $ 436 $ 12,316 $ 21,406 $ 10,760 $ 14,581 $ 38,785 $ 14,475 $ - $ 112,759 Commercial and industrial A, B, or C $ 642 $ 775 $ 917 $ 795 $ 237 $ 2,713 $ 4,779 $ 22 $ 10,880 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Commercial and Industrial Loans $ 642 $ 775 $ 917 $ 795 $ 237 $ 2,713 $ 4,779 $ 22 $ 10,880 Consumer/Other Loans A, B, or C $ 852 $ 4,849 $ 1,241 $ 719 $ 418 $ 500 $ 523 $ - $ 9,102 S - - - - - - - - - D - 21 9 - 5 - 5 - 40 E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 852 $ 4,870 $ 1,250 $ 719 $ 423 $ 500 $ 528 $ - $ 9,142 Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total December 31, 2023: Real Estate, Residential Loans: A, B, or C $ 11,865 $ 17,053 $ 12,158 $ 4,695 $ 5,451 $ 17,502 $ 4,147 $ 401 $ 73,272 S - - - - - 66 - - 66 D - - 122 - - 623 - - 745 E - - - 45 27 141 - - 213 F - - - - - - - - - Total Real Estate Residential Loans $ 11,865 $ 17,053 $ 12,280 $ 4,740 $ 5,478 $ 18,332 $ 4,147 $ 401 $ 74,296 Real Estate, Construction Loans: A, B, or C $ 1,069 $ 2,119 $ 2,133 $ 1,379 $ 38 $ 3,966 $ 12,827 $ - $ 23,531 S - - - - - - 3,735 - 3,735 D - - - 87 - - - - 87 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Construction Loans $ 1,069 $ 2,119 $ 2,133 $ 1,466 $ 38 $ 3,966 $ 16,562 $ - $ 27,353 Real Estate,Nonresidential Loans: A, B, or C $ 12,387 $ 20,951 $ 11,056 $ 15,008 $ 5,497 $ 34,330 $ 14,959 $ 728 $ 114,916 S - - - - - - - - - D - - - - - 98 - - 98 E - - - - - - - - - F - - - - - - - - - Total Real Estate, Nonresidential Loans $ 12,387 $ 20,951 $ 11,056 $ 15,008 $ 5,497 $ 34,428 $ 14,959 $ 728 $ 115,014 Commercial and industrial A, B, or C $ 850 $ 1,008 $ 831 $ 263 $ 2,742 $ 39 $ 6,763 $ - $ 12,496 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Commercial and Industrial Loans $ 850 $ 1,008 $ 831 $ 263 $ 2,742 $ 39 $ 6,763 $ - $ 12,496 Consumer/Other Loans A, B, or C $ 5,346 $ 1,417 $ 841 $ 439 $ 234 $ 304 $ 508 $ 52 $ 9,141 S - - - - - - - - - D 7 6 - - 18 3 5 - 39 E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 5,353 $ 1,423 $ 841 $ 439 $ 252 $ 307 $ 513 $ 52 $ 9,180 |
Financing Receivable, Nonaccrual [Table Text Block] | CECL March 31, 2024 Nonaccrual Loans with Nonaccrual Loans Total Nonaccrual No Allowance with an Allowance Loans Real estate, residential $ 352 $ - $ 352 Total $ 352 $ - $ 352 CECL December 31, 2023 Nonaccrual Loans with Nonaccrual Loans Total Nonaccrual No Allowance with an Allowance Loans Real estate, residential $ 168 $ 45 $ 213 Real estate, nonresidential - - - Other - - - Total $ 168 $ 45 $ 213 |
Financing Receivable, Accrued Interest, Writeoff [Table Text Block] | March 31, 2024 December 31, 2023 Real estate, residential $ 1 $ 1 Total loans $ 1 $ 1 |
Summary of Collateral-dependent Loans [Table Text Block] | March 31, 2024 December 31, 2023 Residential Residential Properties Properties Real estate, residential $ 360 $ 222 Total loans $ 360 $ 222 |
Nonaccrual Loans By Class and Vintage [Table Text Block] | Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2024 2023 2022 2021 2020 Prior Loans Term Loans Total March 31, 2024: Real estate, residential $ - $ - $ - $ 189 $ - $ 163 $ - $ - $ 352 Real estate, construction - - - - - - - - - Real estate, nonresidential - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer/Other - - - - - - - - - Total Loans on Nonaccrual $ - $ - $ - $ 189 $ - $ 163 $ - $ - $ 352 Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total December 31, 2023: Real estate, residential $ - $ - $ - $ - $ - $ 213 $ - $ - $ 213 Real estate, construction - - - - - - - - - Real estate, nonresidential - - - - - - - - - Commercial and industrial - - - - - - - - - Consumer/Other - - - - - - - - - Total Loans on Nonaccrual $ - $ - $ - $ - $ - $ 213 $ - $ - $ 213 |
Financing Receivable, Modified [Table Text Block] | Term Extension 31-Mar-24 Amortized Cost % of Total Loan Basis Type Financial Effect Real estate, residential $ 19 0.03 % Added a weighted average 3 years to the life of loan, which reduced monthly payment amounts for the borrowers. Provided 3 month payment deferrals to borrowers through our standard deferral program. The 3 monthly payments were added to the end of the original loan terms of these. Total $ 19 Payment Status (Amortized Cost Basis) March 31, 2024 30-89 Days Past 90+ Days Past Current Due Due Real estate, residential $ 19 $ - $ - Total $ 19 $ - $ - |
Note 6 - Allowance for Credit_2
Note 6 - Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total Quarter ended March 31, 2024 Allowance for credit losses on loans and leases Beginning balance $ 971 $ 173 $ 1,807 $ 54 $ 219 $ 3,224 Charge-offs (45 ) - - - (90 ) (135 ) Recoveries - 8 1 - 49 58 Net provision for loan losses (206 ) 31 74 3 38 (60 ) Ending Balance $ 720 $ 212 $ 1,882 $ 57 $ 216 $ 3,087 Reserve for unfunded lending commitments Beginning balance $ 2 $ 34 $ 5 $ 10 $ 4 $ 55 Provision for losses on unfunded commitments - 10 7 1 42 60 Ending balance-reserve for unfunded commitments $ 2 $ 44 $ 12 $ 11 $ 46 $ 115 Total allowance for credit losses on loans and unfunded commitments $ 722 $ 256 $ 1,894 $ 68 $ 262 $ 3,202 Allowance for credit losses on loans and leases Individually evaluated $ - $ - $ - $ - $ 8 $ 8 Collectively evaluated 720 212 1,882 57 208 3,079 Total allowance for credit losses on loans: $ 720 $ 212 $ 1,882 $ 57 $ 216 $ 3,087 Reserve for unfunded lending commitments Individually evaluated $ - $ - $ - $ - $ - $ - Collectively evaluated 2 44 12 11 46 115 Reserve for unfunded lending commitments: 2 44 12 11 46 115 Total allowance for credit losses, March 31, 2024 $ 722 $ 256 $ 1,894 $ 68 $ 262 $ 3,202 Loans, Quarter ended March 31, 2024 Individually evaluated $ 986 $ 209 $ 95 $ - $ 35 $ 1,325 Collectively evaluated 74,747 27,551 112,664 10,880 9,107 234,949 Total loans, March 31, 2024 $ 75,733 $ 27,760 $ 112,759 $ 10,880 $ 9,142 $ 236,274 Real Estate, Residential Real Estate, Construction Real Estate, Nonresidential Commercial and Industrial Other Total Quarter ended March 31, 2023 Allowance for credit losses on loans and leases 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 - - (84 ) - (72 ) (156 ) Recoveries - - 20 - 51 71 Net provision for loan losses (347 ) (189 ) 566 27 (27 ) 30 Ending Balance $ 962 $ 145 $ 1,926 $ 86 $ 154 $ 3,273 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 - (3 ) (1 ) (2 ) (9 ) (15 ) Ending balance-reserve for unfunded commitments $ 4 $ 27 $ 4 $ 13 $ 9 $ 57 Total allowance for credit losses on loans and unfunded commitments $ 966 $ 172 $ 1,930 $ 99 $ 163 $ 3,330 Allowance for credit losses on loans and leases Individually evaluated $ 145 $ - $ - $ - $ - $ 145 Collectively evaluated 817 145 1,926 86 154 3,128 Total allowance for credit losses on loans: $ 962 $ 145 $ 1,926 $ 86 $ 154 $ 3,273 Reserve for unfunded lending commitments Individually evaluated $ - $ - $ - $ - $ - $ - Collectively evaluated 4 27 4 13 9 57 Reserve for unfunded lending commitments: 4 27 4 13 9 57 Total allowance for credit losses, March 31, 2023 $ 966 $ 172 $ 1,930 $ 99 $ 163 $ 3,330 Loans, Quarter ended March 31, 2023 Individually evaluated $ 985 $ 111 $ 1,696 $ - $ 16 $ 2,808 Collectively evaluated 68,531 26,716 116,814 14,303 7,526 233,890 Total loans, March 31, 2023 $ 69,516 $ 26,827 $ 118,510 $ 14,303 $ 7,542 $ 236,698 |
Financing Receivable, Credit Quality Indicator Write-offs [Table Text Block] | Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2024 2023 2022 2021 2020 Prior Loans Term Loans Total March 31, 2024: Real estate, residential $ - $ - $ - $ - $ - $ - $ - $ - $ - A,B, or C - - - - - - - - - S - - - - - - - - - D - - - - - - - - - E - - - - - 45 - - 45 F - - - - - - - - - Total Real estate, nonresidential loans $ - $ - $ - $ - $ - $ 45 $ - $ - $ 45 Consumer/Other A,B, or C $ - $ - $ - $ - $ - $ - $ - $ - $ - S - - - - - - - - - D 52 7 - - - 11 - - 70 E - - 20 - - - - - 20 F - - - - - - - - - Total Consumer/Other Loans $ 52 $ 7 $ 20 $ - $ - $ 11 $ - $ - $ 90 Total Gross Loan Chargeoffs: $ 52 $ 7 $ 20 $ - $ - $ 56 $ - $ - $ 135 Term Loans Revolving Amortized Cost Basis by Origination Year Loans Revolving Converted to 2023 2022 2021 2020 2019 Prior Loans Term Loans Total March 31, 2023: Real estate, nonresidential $ - $ - $ - $ - $ - $ - $ - $ - $ - A,B, or C - - - - - - - - - S - - - - - - - - - D - - - - - - - - - E - - - - - 84 - - 84 F - - - - - - - - - Total Real estate, nonresidential loans $ - $ - $ - $ - $ - $ 84 $ - $ - $ 84 Consumer/Other A,B, or C $ 72 $ - $ - $ - $ - $ - $ - $ - $ 72 S - - - - - - - - - D - - - - - - - - - E - - - - - - - - - F - - - - - - - - - Total Consumer/Other Loans $ 72 $ - $ - $ - $ - $ - $ - $ - $ 72 Total Gross Loan Chargeoffs: $ 72 $ - $ - $ - $ - $ 84 $ - $ - $ 156 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements and Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Total Level 1 Level 2 Level 3 March 31, 2024: U.S. Treasuries $ 183,812 $ - $ 183,812 $ - Mortgage-backed securities 45,917 - 45,917 - Collateralized mortgage obligations 85,942 - 85,942 - States and political subdivisions 80,489 - 80,489 - Total $ 396,160 $ - $ 396,160 $ - December 31, 2023: U.S. Treasuries $ 115,458 $ - $ 115,458 $ - Mortgage-backed securities 47,785 - 47,785 - Collateralized mortgage obligations 95,006 - 95,006 - States and political subdivisions 81,228 - 81,228 - Total $ 339,477 $ - $ 339,477 $ - |
Schedule of Change in Other Real Estate [Table Text Block] | March 31, 2024 December 31, 2023 Balance, beginning of year $ - $ 259 Loans transferred to ORE - 952 Sales - (1,114 ) Write-downs - (97 ) Balance, end of year $ - $ - |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total March 31, 2024: Financial Assets: Cash and due from banks $ 108,117 $ 108,117 $ - $ - $ 108,117 Available for sale securities 396,160 - 396,160 - 396,160 Held to maturity securities, net 145,392 - 132,221 - 132,221 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,368 - 2,368 - 2,368 Loans, net 233,187 - - 220,748 220,748 Financial Liabilities: Deposits: Non-interest bearing 198,543 198,543 - - 198,543 Interest bearing 585,164 - - 527,707 527,707 Time deposits 27,792 - - 26,913 26,913 Borrowings under Bank Term Funding Program 30,000 - 30,000 - 30,000 Carrying Fair Value Measurements Using Amount Level 1 Level 2 Level 3 Total December 31, 2023: Financial Assets: Cash and due from banks $ 22,794 $ 22,794 $ - $ - $ 22,794 Available for sale securities 339,477 - 339,477 - 339,477 Held to maturity securities, net 150,911 - 138,523 - 138,523 Other investments 350 350 - - 350 Federal Home Loan Bank stock 2,334 - 2,334 - 2,334 Loans, net 235,115 - - 221,896 221,896 Financial Liabilities: Deposits: Non-interest bearing 174,933 174,933 - - 174,933 Interest bearing 483,662 - - 424,398 424,398 Time deposits 29,895 - - 28,939 28,939 Borrowings from Federal Home Loan Bank 18,500 - 18,500 - 18,500 |
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 March 31, 2024 $ - $ - $ - $ - December 31, 2023 - - - - |
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 March 31, 2024 $ - $ - $ - $ - December 31, 2023 $ 6 $ - $ - $ 6 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Three Months Ended March 31, 2024 2023 Tax Rate Tax Rate Income Taxes: Current $ 561 19 % $ 132 4 % Deferred 70 2 % 315 11 % Total income tax expense $ 631 21 % $ 447 15 % |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Mar. 31, 2024 USD ($) |
Financing Receivable, Accrued Interest Balance | $ 1,362,000 |
Note 2 - Earnings Per Share (De
Note 2 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Weighted Average Number of Shares Outstanding, Basic (in shares) | 4,661,686 | 4,678,186 |
Note 3 - Statements of Cash F_2
Note 3 - Statements of Cash Flows (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 2,225,558 | $ 1,384,849 |
Income Taxes Paid, Net | 0 | 0 |
Real Estate Owned, Transfer to Real Estate Owned | $ 0 | $ 0 |
Note 4 - Investments (Details T
Note 4 - Investments (Details Textual) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Jan. 01, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 30,000 | $ 30,000 | $ 0 | ||
Debt Securities, Held-to-Maturity, Impairment (Reversal) | (11,346) | ||||
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 | 417,261,687 | 296,945,649 | |||
US Treasury Securities [Member] | |||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 0 | 0 | |||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 26 | ||||
Securities, Qualitative Disclosure, Number of Positions | 30 | ||||
Collateralized Mortgage-Backed Securities [Member] | |||||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 42 | ||||
Securities, Qualitative Disclosure, Number of Positions | 46 | ||||
Collateralized Mortgage Obligations [Member] | |||||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 32 | ||||
Securities, Qualitative Disclosure, Number of Positions | 33 | ||||
US States and Political Subdivisions Debt Securities [Member] | |||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ (30,000) | $ (30,000) | |||
Securities In Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 74 | ||||
Securities, Qualitative Disclosure, Number of Positions | 75 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | $ 41,000 |
Note 4 - Investments - Amortize
Note 4 - Investments - Amortized Cost and Fair Value Of Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Available for sale securities, amortized cost | $ 436,911 | $ 379,195 | |
Available for sale securities, gross unrealized gains | 83 | 86 | |
Available for sale securities, gross unrealized losses | (40,834) | (39,804) | |
Available for sale securities, fair value | 396,160 | 339,477 | |
Held to maturity securities, amortized cost | 145,422 | 150,941 | |
Held to maturity securities, fair value | 132,221 | 138,523 | |
Held to maturity securities, allowance for credit loss | 30 | 30 | $ 0 |
Held to maturity securities, net carrying amount | 145,392 | 150,911 | |
Approximation [Member] | |||
Available for sale securities, amortized cost | 145,422 | ||
Held to maturity securities, amortized cost | 145,422 | 150,941 | |
Held to maturity securities, gross unrealized gains | 23 | 64 | |
Held to maturity securities, gross unrealized losses | 13,224 | 12,482 | |
Held to maturity securities, fair value | 132,221 | 138,523 | |
Held to maturity securities, allowance for credit loss | (30) | (30) | |
Held to maturity securities, net carrying amount | 145,392 | 150,911 | |
US Treasury Securities [Member] | |||
Available for sale securities, amortized cost | 192,864 | 123,945 | |
Available for sale securities, gross unrealized gains | 27 | 55 | |
Available for sale securities, gross unrealized losses | (9,079) | (8,542) | |
Available for sale securities, fair value | 183,812 | 115,458 | |
Held to maturity securities, amortized cost | 54,958 | 59,901 | |
Held to maturity securities, gross unrealized gains | 0 | 41 | |
Held to maturity securities, gross unrealized losses | 946 | 907 | |
Held to maturity securities, fair value | 54,012 | 59,035 | |
Held to maturity securities, allowance for credit loss | 0 | 0 | |
Held to maturity securities, net carrying amount | 54,958 | 59,901 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available for sale securities, amortized cost | 50,733 | 52,374 | |
Available for sale securities, gross unrealized gains | 14 | 14 | |
Available for sale securities, gross unrealized losses | (4,830) | (4,603) | |
Available for sale securities, fair value | 45,917 | 47,785 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale securities, amortized cost | 101,455 | 101,560 | |
Available for sale securities, gross unrealized gains | 0 | 0 | |
Available for sale securities, gross unrealized losses | (20,966) | (20,332) | |
Available for sale securities, fair value | 80,489 | 81,228 | |
Held to maturity securities, amortized cost | 90,464 | 91,040 | |
Held to maturity securities, gross unrealized gains | 23 | 23 | |
Held to maturity securities, gross unrealized losses | 12,278 | 11,575 | |
Held to maturity securities, fair value | 78,209 | 79,488 | |
Held to maturity securities, allowance for credit loss | (30) | (30) | |
Held to maturity securities, net carrying amount | 90,434 | 91,010 | |
Collateralized Mortgage Obligations [Member] | |||
Available for sale securities, amortized cost | 91,859 | 101,316 | |
Available for sale securities, gross unrealized gains | 42 | 17 | |
Available for sale securities, gross unrealized losses | (5,959) | (6,327) | |
Available for sale securities, fair value | $ 85,942 | $ 95,006 |
Note 4 - Investments - Allowanc
Note 4 - Investments - Allowance For Credit Losses on Held to Maturity Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Balance | $ 30 | $ 0 |
Provision for credit losses | 0 | (11) |
Charge-offs of securities | 0 | 0 |
Recoveries | 0 | 0 |
Balance | $ 30 | 30 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||
Balance | $ 41 |
Note 4 - Investments - Credit Q
Note 4 - Investments - Credit Quality Indicator of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Held to maturity, amortized cost | $ 145,422 | $ 150,941 |
Aaa [Member] | ||
Held to maturity, amortized cost | 54,958 | 59,901 |
Aa1/Aa2/Aa3 [Member] | ||
Held to maturity, amortized cost | 38,408 | 38,496 |
A1/A2 [Member] | ||
Held to maturity, amortized cost | 3,187 | 3,195 |
Baa1/Baa2 [Member] | ||
Held to maturity, amortized cost | 1,000 | 1,003 |
Not Rated [Member] | ||
Held to maturity, amortized cost | $ 47,869 | $ 48,346 |
Note 4 - Investments - Amorti_2
Note 4 - Investments - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Available for sale securities, due in one year or less, amortized cost | $ 98,596 | |
Available for sale securities, due in one year or less, fair value | 98,264 | |
Available for sale securities, due after one year through five years, amortized cost | 101,950 | |
Available for sale securities, due after one year through five years, fair value | 92,375 | |
Available for sale securities, due after five years through ten years, amortized cost | 48,083 | |
Available for sale securities, due after five years through ten years, fair value | 39,275 | |
Available for sale securities, due after ten years, amortized cost | 45,689 | |
Available for sale securities, due after ten years, fair value | 34,387 | |
Available-for-sale, maturity, without single maturity date, amortized cost | 91,860 | |
Available-for-sale, maturity, without single maturity date, fair value | 85,942 | |
Available for sale securities, amortized cost | 436,911 | $ 379,195 |
AvailableForSaleSecuritiesDebtSecurities | 396,160 | 339,477 |
Held to maturity securities, due in one year or less, amortized cost | 28,366 | |
Held to maturity securities, due in one year or less, fair value | 28,202 | |
Held to maturity securities, due after one years through five years, amortized cost | 54,242 | |
Held to maturity securities, due after one year through five years, fair value | 51,704 | |
Held to maturity securities, due after five years through ten years, amortized cost | 40,091 | |
Held to maturity securities, due after five years through ten years, fair value | 34,952 | |
Held to maturity securities, due after ten years, amortized cost | 22,723 | |
Held to maturity securities, due after ten years, fair value | 17,363 | |
Held to maturity securities, fair value | 132,221 | 138,523 |
Approximation [Member] | ||
Available for sale securities, amortized cost | 145,422 | |
Held to maturity securities, fair value | 132,221 | 138,523 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-sale, maturity, without single maturity date, amortized cost | 50,733 | |
Available-for-sale, maturity, without single maturity date, fair value | 45,917 | |
Available for sale securities, amortized cost | 50,733 | 52,374 |
AvailableForSaleSecuritiesDebtSecurities | $ 45,917 | $ 47,785 |
Note 4 - Investments - Availabl
Note 4 - Investments - Available for Sale and Held to Maturity Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Less Than Twelve Months, Fair Value | $ 93,087 | $ 27,561 |
Less Than Twelve Months, Gross Unrealized Losses | 139 | 42 |
Over Twelve Months, Fair Value | 273,488 | 295,559 |
Over Twelve Months, Gross Unrealized Losses | 40,695 | 39,762 |
Total, Fair Value | 366,575 | 323,120 |
Total, Gross Unrealized Losses | 40,834 | 39,804 |
US Treasury Securities [Member] | ||
Less Than Twelve Months, Fair Value | 83,746 | 24,750 |
Less Than Twelve Months, Gross Unrealized Losses | 100 | 22 |
Over Twelve Months, Fair Value | 80,259 | 85,660 |
Over Twelve Months, Gross Unrealized Losses | 8,979 | 8,520 |
Total, Fair Value | 164,005 | 110,410 |
Total, Gross Unrealized Losses | 9,079 | 8,542 |
Collateralized Mortgage-Backed Securities [Member] | ||
Less Than Twelve Months, Fair Value | 3,190 | 2,811 |
Less Than Twelve Months, Gross Unrealized Losses | 19 | 20 |
Over Twelve Months, Fair Value | 37,641 | 38,521 |
Over Twelve Months, Gross Unrealized Losses | 4,811 | 4,583 |
Total, Fair Value | 40,831 | 41,332 |
Total, Gross Unrealized Losses | 4,830 | 4,603 |
Collateralized Mortgage Obligations [Member] | ||
Less Than Twelve Months, Fair Value | 6,151 | 0 |
Less Than Twelve Months, Gross Unrealized Losses | 20 | 0 |
Over Twelve Months, Fair Value | 75,239 | 90,290 |
Over Twelve Months, Gross Unrealized Losses | 5,939 | 6,327 |
Total, Fair Value | 81,390 | 90,290 |
Total, Gross Unrealized Losses | 5,959 | 6,327 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Fair Value | 0 | 0 |
Less Than Twelve Months, Gross Unrealized Losses | 0 | 0 |
Over Twelve Months, Fair Value | 80,349 | 81,088 |
Over Twelve Months, Gross Unrealized Losses | 20,966 | 20,332 |
Total, Fair Value | 80,349 | 81,088 |
Total, Gross Unrealized Losses | $ 20,966 | $ 20,332 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) Pure in Thousands | 12 Months Ended |
Dec. 31, 2023 | |
Financing Receivable, Modifications, Number of Contracts | 0 |
Note 5 - Loans - Composition of
Note 5 - Loans - Composition of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Loan receivable, gross | $ 236,274 | $ 238,339 | $ 236,698 |
Real Estate, Residential [Member] | |||
Loan receivable, gross | 75,733 | 74,296 | 69,516 |
Real Estate, Construction [Member] | |||
Loan receivable, gross | 27,760 | 27,353 | 26,827 |
Real Estate, Nonresidential [Member] | |||
Loan receivable, gross | 112,759 | 115,014 | 118,510 |
Commercial And Industrial Loan [Member] | |||
Loan receivable, gross | 10,880 | 12,496 | 14,303 |
Other Loan [Member] | |||
Loan receivable, gross | $ 9,142 | $ 9,180 | $ 7,542 |
Note 5 - Loans - Age Analysis o
Note 5 - Loans - Age Analysis of the Loan Portfolio, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Loans | $ 236,274 | $ 238,339 | $ 236,698 |
Loans Past Due Greater Than 90 Days and Still Accruing | 21 | ||
Real Estate, Residential [Member] | |||
Loans | 75,733 | 74,296 | 69,516 |
Real Estate, Construction [Member] | |||
Loans | 27,760 | 27,353 | 26,827 |
Loans Past Due Greater Than 90 Days and Still Accruing | 0 | ||
Real Estate, Nonresidential [Member] | |||
Loans | 112,759 | 115,014 | 118,510 |
Commercial And Industrial Loan [Member] | |||
Loans | 10,880 | 12,496 | 14,303 |
Other Loan [Member] | |||
Loans | 9,142 | 9,180 | $ 7,542 |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Loans | 1,132 | 492 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate, Residential [Member] | |||
Loans | 575 | 207 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate, Construction [Member] | |||
Loans | 68 | 131 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate, Nonresidential [Member] | |||
Loans | 401 | 58 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial And Industrial Loan [Member] | |||
Loans | 78 | 21 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Other Loan [Member] | |||
Loans | 10 | 75 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Loans | 239 | 570 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate, Residential [Member] | |||
Loans | 89 | 540 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate, Construction [Member] | |||
Loans | 124 | 0 | |
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 | 26 | 30 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans | 251 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate, Residential [Member] | |||
Loans | 251 | 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 | 0 | |
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 | 1,622 | 1,062 | |
Financial Asset, Past Due [Member] | Real Estate, Residential [Member] | |||
Loans | 915 | 747 | |
Financial Asset, Past Due [Member] | Real Estate, Construction [Member] | |||
Loans | 192 | 131 | |
Financial Asset, Past Due [Member] | Real Estate, Nonresidential [Member] | |||
Loans | 401 | 58 | |
Financial Asset, Past Due [Member] | Commercial And Industrial Loan [Member] | |||
Loans | 78 | 21 | |
Financial Asset, Past Due [Member] | Other Loan [Member] | |||
Loans | 36 | 105 | |
Financial Asset, Not Past Due [Member] | |||
Loans | 234,652 | 237,277 | |
Financial Asset, Not Past Due [Member] | Real Estate, Residential [Member] | |||
Loans | 74,818 | 73,549 | |
Financial Asset, Not Past Due [Member] | Real Estate, Construction [Member] | |||
Loans | 27,568 | 27,222 | |
Financial Asset, Not Past Due [Member] | Real Estate, Nonresidential [Member] | |||
Loans | 112,358 | 114,956 | |
Financial Asset, Not Past Due [Member] | Commercial And Industrial Loan [Member] | |||
Loans | 10,802 | 12,475 | |
Financial Asset, Not Past Due [Member] | Other Loan [Member] | |||
Loans | $ 9,106 | $ 9,075 |
Note 5 - Loans - Credit Quality
Note 5 - Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Loan receivable, gross | $ 236,274 | $ 238,339 | $ 236,698 |
Real Estate, Residential [Member] | |||
Originated, Current Fiscal Year | 2,597 | 11,865 | |
Originated, Fiscal Year before Current Fiscal Year | 12,332 | 17,053 | |
A, B, or C | 16,969 | 12,280 | |
Originated, Three Years before Current Fiscal Year | 12,125 | 4,740 | |
Originated, Four Years before Current Fiscal Year | 4,685 | 5,478 | |
Originated, More than Five Years before Current Fiscal Year | 22,643 | 18,332 | |
Financing Receivable, Revolving | 4,130 | 4,147 | |
Financing Receivable, Revolving, Converted to Term Loan | 252 | 401 | |
Loan receivable, gross | 75,733 | 74,296 | 69,516 |
Real Estate, Residential [Member] | A, B, or C [Member] | |||
Originated, Current Fiscal Year | 2,597 | 11,865 | |
Originated, Fiscal Year before Current Fiscal Year | 12,332 | 17,053 | |
A, B, or C | 16,969 | 12,158 | |
Originated, Three Years before Current Fiscal Year | 11,816 | 4,695 | |
Originated, Four Years before Current Fiscal Year | 4,685 | 5,451 | |
Originated, More than Five Years before Current Fiscal Year | 21,498 | 17,502 | |
Financing Receivable, Revolving | 4,130 | 4,147 | |
Financing Receivable, Revolving, Converted to Term Loan | 252 | 401 | |
Loan receivable, gross | 74,279 | 73,272 | |
Real Estate, Residential [Member] | S [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 469 | 66 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 469 | 66 | |
Real Estate, Residential [Member] | D [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 122 | |
Originated, Three Years before Current Fiscal Year | 120 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 513 | 623 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 633 | 745 | |
Real Estate, Residential [Member] | E [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 189 | 45 | |
Originated, Four Years before Current Fiscal Year | 0 | 27 | |
Originated, More than Five Years before Current Fiscal Year | 163 | 141 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 352 | 213 | |
Real Estate, Residential [Member] | F [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Real Estate, Construction [Member] | |||
Originated, Current Fiscal Year | 125 | 1,069 | |
Originated, Fiscal Year before Current Fiscal Year | 308 | 2,119 | |
A, B, or C | 1,558 | 2,133 | |
Originated, Three Years before Current Fiscal Year | 2,076 | 1,466 | |
Originated, Four Years before Current Fiscal Year | 1,431 | 38 | |
Originated, More than Five Years before Current Fiscal Year | 3,935 | 3,966 | |
Financing Receivable, Revolving | 17,855 | 16,562 | |
Financing Receivable, Revolving, Converted to Term Loan | 472 | 0 | |
Loan receivable, gross | 27,760 | 27,353 | 26,827 |
Real Estate, Construction [Member] | A, B, or C [Member] | |||
Originated, Current Fiscal Year | 1 | 1,069 | |
Originated, Fiscal Year before Current Fiscal Year | 308 | 2,119 | |
A, B, or C | 1,558 | 2,133 | |
Originated, Three Years before Current Fiscal Year | 1,990 | 1,379 | |
Originated, Four Years before Current Fiscal Year | 1,431 | 38 | |
Originated, More than Five Years before Current Fiscal Year | 3,935 | 3,966 | |
Financing Receivable, Revolving | 14,120 | 12,827 | |
Financing Receivable, Revolving, Converted to Term Loan | 472 | 0 | |
Loan receivable, gross | 23,815 | 23,531 | |
Real Estate, Construction [Member] | S [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 3,735 | 3,735 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 3,735 | 3,735 | |
Real Estate, Construction [Member] | D [Member] | |||
Originated, Current Fiscal Year | 124 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 86 | 87 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 210 | 87 | |
Real Estate, Construction [Member] | E [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Real Estate, Construction [Member] | F [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Real Estate, Nonresidential [Member] | |||
Originated, Current Fiscal Year | 436 | 12,387 | |
Originated, Fiscal Year before Current Fiscal Year | 12,316 | 20,951 | |
A, B, or C | 21,406 | 11,056 | |
Originated, Three Years before Current Fiscal Year | 10,760 | 15,008 | |
Originated, Four Years before Current Fiscal Year | 14,581 | 5,497 | |
Originated, More than Five Years before Current Fiscal Year | 38,785 | 34,428 | |
Financing Receivable, Revolving | 14,475 | 14,959 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 728 | |
Loan receivable, gross | 112,759 | 115,014 | 118,510 |
Real Estate, Nonresidential [Member] | A, B, or C [Member] | |||
Originated, Current Fiscal Year | 436 | 12,387 | |
Originated, Fiscal Year before Current Fiscal Year | 12,316 | 20,951 | |
A, B, or C | 21,406 | 11,056 | |
Originated, Three Years before Current Fiscal Year | 10,760 | 15,008 | |
Originated, Four Years before Current Fiscal Year | 14,581 | 5,497 | |
Originated, More than Five Years before Current Fiscal Year | 38,690 | 34,330 | |
Financing Receivable, Revolving | 14,475 | 14,959 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 728 | |
Loan receivable, gross | 112,664 | 114,916 | |
Real Estate, Nonresidential [Member] | S [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Real Estate, Nonresidential [Member] | D [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 95 | 98 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 95 | 98 | |
Real Estate, Nonresidential [Member] | E [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Real Estate, Nonresidential [Member] | F [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Commercial And Industrial Loan [Member] | |||
Originated, Current Fiscal Year | 642 | 850 | |
Originated, Fiscal Year before Current Fiscal Year | 775 | 1,008 | |
A, B, or C | 917 | 831 | |
Originated, Three Years before Current Fiscal Year | 795 | 263 | |
Originated, Four Years before Current Fiscal Year | 237 | 2,742 | |
Originated, More than Five Years before Current Fiscal Year | 2,713 | 39 | |
Financing Receivable, Revolving | 4,779 | 6,763 | |
Financing Receivable, Revolving, Converted to Term Loan | 22 | 0 | |
Loan receivable, gross | 10,880 | 12,496 | 14,303 |
Commercial And Industrial Loan [Member] | A, B, or C [Member] | |||
Originated, Current Fiscal Year | 642 | 850 | |
Originated, Fiscal Year before Current Fiscal Year | 775 | 1,008 | |
A, B, or C | 917 | 831 | |
Originated, Three Years before Current Fiscal Year | 795 | 263 | |
Originated, Four Years before Current Fiscal Year | 237 | 2,742 | |
Originated, More than Five Years before Current Fiscal Year | 2,713 | 39 | |
Financing Receivable, Revolving | 4,779 | 6,763 | |
Financing Receivable, Revolving, Converted to Term Loan | 22 | 0 | |
Loan receivable, gross | 10,880 | 12,496 | |
Commercial And Industrial Loan [Member] | S [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Commercial And Industrial Loan [Member] | D [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Commercial And Industrial Loan [Member] | E [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Commercial And Industrial Loan [Member] | F [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Other Loan [Member] | |||
Originated, Current Fiscal Year | 852 | 5,353 | |
Originated, Fiscal Year before Current Fiscal Year | 4,870 | 1,423 | |
A, B, or C | 1,250 | 841 | |
Originated, Three Years before Current Fiscal Year | 719 | 439 | |
Originated, Four Years before Current Fiscal Year | 423 | 252 | |
Originated, More than Five Years before Current Fiscal Year | 500 | 307 | |
Financing Receivable, Revolving | 528 | 513 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 52 | |
Loan receivable, gross | 9,142 | 9,180 | $ 7,542 |
Other Loan [Member] | A, B, or C [Member] | |||
Originated, Current Fiscal Year | 852 | 5,346 | |
Originated, Fiscal Year before Current Fiscal Year | 4,849 | 1,417 | |
A, B, or C | 1,241 | 841 | |
Originated, Three Years before Current Fiscal Year | 719 | 439 | |
Originated, Four Years before Current Fiscal Year | 418 | 234 | |
Originated, More than Five Years before Current Fiscal Year | 500 | 304 | |
Financing Receivable, Revolving | 523 | 508 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 52 | |
Loan receivable, gross | 9,102 | 9,141 | |
Other Loan [Member] | S [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Other Loan [Member] | D [Member] | |||
Originated, Current Fiscal Year | 0 | 7 | |
Originated, Fiscal Year before Current Fiscal Year | 21 | 6 | |
A, B, or C | 9 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 5 | 18 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 3 | |
Financing Receivable, Revolving | 5 | 5 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 40 | 39 | |
Other Loan [Member] | E [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | 0 | 0 | |
Other Loan [Member] | F [Member] | |||
Originated, Current Fiscal Year | 0 | 0 | |
Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
A, B, or C | 0 | 0 | |
Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Revolving | 0 | 0 | |
Financing Receivable, Revolving, Converted to Term Loan | 0 | 0 | |
Loan receivable, gross | $ 0 | $ 0 |
Note 5 - Loans - Total Loans on
Note 5 - Loans - Total Loans on Nonaccrual (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financial non accrual, no allowance | $ 352 | $ 168 |
Financial non accrual, allowance | 0 | 45 |
Financial non accrual | 352 | 213 |
Real Estate, Residential [Member] | ||
Financial non accrual, no allowance | 352 | 168 |
Financial non accrual, allowance | 0 | 45 |
Financial non accrual | $ 352 | 213 |
Real Estate, Nonresidential [Member] | ||
Financial non accrual, no allowance | 0 | |
Financial non accrual, allowance | 0 | |
Financial non accrual | 0 | |
Other Sector [Member] | ||
Financial non accrual, no allowance | 0 | |
Financial non accrual, allowance | 0 | |
Financial non accrual | $ 0 |
Note 5 - Loans - Summary of Acc
Note 5 - Loans - Summary of Accrued Interest Receivables Written Off (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Accrued Interest, Writeoff | $ 1 | $ 1 |
Real Estate, Residential [Member] | ||
Accrued Interest, Writeoff | $ 1 | $ 1 |
Note 5 - Loans - Summary of Col
Note 5 - Loans - Summary of Collateral-dependent Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Loans | $ 236,274 | $ 238,339 | $ 236,698 |
Collateral Pledged [Member] | |||
Loans | 360 | 222 | |
Real Estate, Residential [Member] | |||
Loans | 75,733 | 74,296 | $ 69,516 |
Real Estate, Residential [Member] | Residential Real Estate [Member] | |||
Loans | $ 360 | $ 222 |
Note 5 - Loans - Nonacrrual Loa
Note 5 - Loans - Nonacrrual Loans By Class and Vintage (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financial non accrual | $ 352 | $ 213 |
Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 189 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Prior [Member] | ||
Financial non accrual | 163 | 213 |
Revolving Loans [Member] | ||
Financial non accrual | 0 | 0 |
Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | 0 |
Total Nonaccrual Loans [Member] | ||
Financial non accrual | 352 | 213 |
Real Estate, Residential [Member] | ||
Financial non accrual | 352 | 213 |
Real Estate, Residential [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Residential [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Residential [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Residential [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 189 | 0 |
Real Estate, Residential [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Residential [Member] | Prior [Member] | ||
Financial non accrual | 163 | 213 |
Real Estate, Residential [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Residential [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Residential [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 352 | 213 |
Real Estate, Construction [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Prior [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Construction [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | ||
Financial non accrual | 0 | |
Real Estate, Nonresidential [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Prior [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | 0 |
Real Estate, Nonresidential [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Prior [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | 0 |
Commercial And Industrial Loan [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivable, Year One, Originated, Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Prior [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Revolving Loans [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Revolving Loans Converted to Term Loans [Member] | ||
Financial non accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Total Nonaccrual Loans [Member] | ||
Financial non accrual | $ 0 | $ 0 |
Note 5 - Loans - Summary of Mod
Note 5 - Loans - Summary of Modified Financing Receivables (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Amortized cost of modified financing receivable | $ 19 |
Financial Asset, Not Past Due [Member] | |
Modified, Accumulated | 19 |
Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified, Accumulated | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified, Accumulated | 0 |
Real Estate, Residential [Member] | Financial Asset, Not Past Due [Member] | |
Modified, Accumulated | 19 |
Real Estate, Residential [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |
Modified, Accumulated | 0 |
Real Estate, Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Modified, Accumulated | 0 |
Real Estate, Residential [Member] | Extended Maturity and Payment Deferral [Member] | |
Amortized cost of modified financing receivable | $ 19 |
Modified in Period, to Total Financing Receivables, Percentage | 0.03% |
Real Estate, Residential [Member] | Extended Maturity [Member] | |
Weighted Average Term Increase from Modification (Year) | 3 years |
Real Estate, Residential [Member] | Payment Deferral [Member] | |
Payment Deferral, Period (Month) | 3 months |
Note 6 - Allowance for Credit_3
Note 6 - Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Balance | $ 3,224 | $ 3,338 | |
Charge-offs | (135) | (156) | |
Recoveries | 58 | 71 | |
Net provision for loan losses | (60) | 30 | |
Balance | 3,087 | 3,273 | |
Provision for losses on unfunded commitments | 0 | 15 | |
Total allowance for credit losses on loans and unfunded commitments | 3,202 | 3,330 | |
Individually evaluated | 8 | 145 | |
Collectively evaluated | 3,079 | 3,128 | |
Less: Allowance for credit losses on loans and leases | 3,087 | 3,273 | $ 3,224 |
Individually evaluated | 1,325 | 2,808 | |
Collectively evaluated | 234,949 | 233,890 | |
Loan receivable, gross | 236,274 | 236,698 | 238,339 |
Unfunded Loan Commitment [Member] | |||
Balance | 55 | 0 | |
Balance | 115 | 57 | |
Provision for losses on unfunded commitments | 60 | (15) | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 115 | 57 | |
Less: Allowance for credit losses on loans and leases | 115 | 57 | 55 |
Reserve for unfunded lending commitments: | 57 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Balance | (10) | ||
Less: Allowance for credit losses on loans and leases | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 72 | ||
Less: Allowance for credit losses on loans and leases | |||
Real Estate, Residential [Member] | |||
Balance | 971 | 913 | |
Charge-offs | (45) | 0 | |
Recoveries | 0 | 0 | |
Net provision for loan losses | (206) | (347) | |
Balance | 720 | 962 | |
Total allowance for credit losses on loans and unfunded commitments | 722 | 966 | |
Individually evaluated | 0 | 145 | |
Collectively evaluated | 720 | 817 | |
Less: Allowance for credit losses on loans and leases | 720 | 962 | 971 |
Individually evaluated | 986 | 985 | |
Collectively evaluated | 74,747 | 68,531 | |
Loan receivable, gross | 75,733 | 69,516 | 74,296 |
Real Estate, Residential [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 2 | 0 | |
Balance | 2 | 4 | |
Provision for losses on unfunded commitments | 0 | 0 | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 2 | 4 | |
Less: Allowance for credit losses on loans and leases | 2 | 4 | 2 |
Reserve for unfunded lending commitments: | 4 | ||
Real Estate, Residential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Balance | 396 | ||
Less: Allowance for credit losses on loans and leases | |||
Real Estate, Residential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 4 | ||
Less: Allowance for credit losses on loans and leases | |||
Real Estate, Construction [Member] | |||
Balance | 173 | 392 | |
Charge-offs | 0 | 0 | |
Recoveries | 8 | 0 | |
Net provision for loan losses | 31 | (189) | |
Balance | 212 | 145 | |
Total allowance for credit losses on loans and unfunded commitments | 256 | 172 | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 212 | 145 | |
Less: Allowance for credit losses on loans and leases | 212 | 145 | 173 |
Individually evaluated | 209 | 111 | |
Collectively evaluated | 27,551 | 26,716 | |
Loan receivable, gross | 27,760 | 26,827 | 27,353 |
Real Estate, Construction [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 34 | 0 | |
Balance | 44 | 27 | |
Provision for losses on unfunded commitments | 10 | (3) | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 44 | 27 | |
Less: Allowance for credit losses on loans and leases | 44 | 27 | 34 |
Reserve for unfunded lending commitments: | 27 | ||
Real Estate, Construction [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Balance | (58) | ||
Less: Allowance for credit losses on loans and leases | |||
Real Estate, Construction [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 30 | ||
Less: Allowance for credit losses on loans and leases | |||
Real Estate, Nonresidential [Member] | |||
Balance | 1,807 | 1,639 | |
Charge-offs | 0 | (84) | |
Recoveries | 1 | 20 | |
Net provision for loan losses | 74 | 566 | |
Balance | 1,882 | 1,926 | |
Total allowance for credit losses on loans and unfunded commitments | 1,894 | 1,930 | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 1,882 | 1,926 | |
Less: Allowance for credit losses on loans and leases | 1,882 | 1,926 | 1,807 |
Individually evaluated | 95 | 1,696 | |
Collectively evaluated | 112,664 | 116,814 | |
Loan receivable, gross | 112,759 | 118,510 | 115,014 |
Real Estate, Nonresidential [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 5 | 0 | |
Balance | 12 | 4 | |
Provision for losses on unfunded commitments | 7 | (1) | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 12 | 4 | |
Less: Allowance for credit losses on loans and leases | 12 | 4 | 5 |
Reserve for unfunded lending commitments: | 4 | ||
Real Estate, Nonresidential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Balance | (215) | ||
Less: Allowance for credit losses on loans and leases | |||
Real Estate, Nonresidential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 5 | ||
Less: Allowance for credit losses on loans and leases | |||
Commercial And Industrial Loan [Member] | |||
Balance | 54 | 143 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Net provision for loan losses | 3 | 27 | |
Balance | 57 | 86 | |
Total allowance for credit losses on loans and unfunded commitments | 68 | 99 | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 57 | 86 | |
Less: Allowance for credit losses on loans and leases | 57 | 86 | 54 |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 10,880 | 14,303 | |
Loan receivable, gross | 10,880 | 14,303 | 12,496 |
Commercial And Industrial Loan [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 10 | 0 | |
Balance | 11 | 13 | |
Provision for losses on unfunded commitments | 1 | (2) | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 11 | 13 | |
Less: Allowance for credit losses on loans and leases | 11 | 13 | 10 |
Reserve for unfunded lending commitments: | 13 | ||
Commercial And Industrial Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Balance | (84) | ||
Less: Allowance for credit losses on loans and leases | |||
Commercial And Industrial Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 15 | ||
Less: Allowance for credit losses on loans and leases | |||
Other Loan [Member] | |||
Balance | 219 | 251 | |
Charge-offs | (90) | (72) | |
Recoveries | 49 | 51 | |
Net provision for loan losses | 38 | (27) | |
Balance | 216 | 154 | |
Total allowance for credit losses on loans and unfunded commitments | 262 | 163 | |
Individually evaluated | 8 | 0 | |
Collectively evaluated | 208 | 154 | |
Less: Allowance for credit losses on loans and leases | 216 | 154 | 219 |
Individually evaluated | 35 | 16 | |
Collectively evaluated | 9,107 | 7,526 | |
Loan receivable, gross | 9,142 | 7,542 | 9,180 |
Other Loan [Member] | Unfunded Loan Commitment [Member] | |||
Balance | 4 | 0 | |
Balance | 46 | 9 | |
Provision for losses on unfunded commitments | 42 | (9) | |
Individually evaluated | 0 | 0 | |
Collectively evaluated | 46 | 9 | |
Less: Allowance for credit losses on loans and leases | $ 46 | 9 | $ 4 |
Reserve for unfunded lending commitments: | 9 | ||
Other Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||
Balance | (49) | ||
Less: Allowance for credit losses on loans and leases | |||
Other Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||
Balance | $ 18 | ||
Less: Allowance for credit losses on loans and leases |
Note 6 - Allowance for Credit_4
Note 6 - Allowance for Credit Losses - Credit Quality Indicator Write-offs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 135 | $ 156 |
Internally Rated [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 52 | 72 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 7 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 20 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 56 | 84 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 135 | 156 |
Real Estate, Residential [Member] | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 45 | 0 |
Real Estate, Residential [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, Residential [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, Residential [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, Residential [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 | 45 | |
Financing Receivable, Revolving, Writeoff | 0 | |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 45 | |
Real Estate, Residential [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] | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 84 |
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 | 84 | |
Financing Receivable, Revolving, Writeoff | 0 | |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 84 | |
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 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 45 | 84 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 45 | 84 |
Consumer Portfolio Segment [Member] | A, B, or C [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 72 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 72 |
Consumer Portfolio Segment [Member] | S [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 |
Consumer Portfolio Segment [Member] | D [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 52 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 7 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 11 | 0 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 70 | 0 |
Consumer Portfolio Segment [Member] | E [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 20 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 20 | 0 |
Consumer Portfolio Segment [Member] | F [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 |
Consumer Portfolio Segment [Member] | Internally Rated [Member] | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 52 | 72 |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 7 | 0 |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 20 | 0 |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 11 | 0 |
Financing Receivable, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 90 | $ 72 |
Note 7 - Shareholders' Equity (
Note 7 - Shareholders' Equity (Details Textual) - $ / shares $ / shares in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Dividends Payable, Amount Per Share (in dollars per share) | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurements and Disclosures (Details Textual) | Mar. 31, 2024 |
Percentage Of Time Deposits Provide For Automatic Renewal At Current Interest Rates | 98% |
Note 8 - Fair Value Measureme_4
Note 8 - Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
AvailableForSaleSecuritiesDebtSecurities | $ 396,160 | $ 339,477 |
Fair Value, Inputs, Level 1 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 396,160 | 339,477 |
Fair Value, Inputs, Level 3 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Fair Value, Recurring [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 396,160 | 339,477 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 396,160 | 339,477 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
US Treasury Securities [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 183,812 | 115,458 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 183,812 | 115,458 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 183,812 | 115,458 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Collateralized Mortgage-Backed Securities [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 45,917 | 47,785 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 45,917 | 47,785 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 45,917 | 47,785 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Collateralized Mortgage Obligations [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 85,942 | 95,006 |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 85,942 | 95,006 |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 85,942 | 95,006 |
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 80,489 | 81,228 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 80,489 | 81,228 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | 80,489 | 81,228 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
AvailableForSaleSecuritiesDebtSecurities | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_5
Note 8 - 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 | Mar. 31, 2024 | Dec. 31, 2023 |
Impaired loans, fair value | $ 0 | $ 6 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans, fair value | $ 0 | $ 6 |
Note 8 - Fair Value Measureme_6
Note 8 - Fair Value Measurements and Disclosures - Assets Measured at Fair Value on Non-recurring Basis of Other Real Estate (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Real estate fair value | $ 0 | $ 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Real estate fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Real estate fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Real estate fair value | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_7
Note 8 - Fair Value Measurements and Disclosures - Change in Fair Value of Other Real Estate (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Balance, beginning of year | $ 0 | $ 259 |
Loans transferred to ORE | 0 | 952 |
Sales | 0 | (1,114) |
Write-downs | 0 | (97) |
Balance, end of year | $ 0 | $ 0 |
Note 8 - Fair Value Measureme_8
Note 8 - Fair Value Measurements and Disclosures - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Cash and due from banks | $ 108,117 | $ 22,794 |
Available for sale securities, fair value | 396,160 | 339,477 |
Held to maturity securities, net | 145,422 | 150,941 |
Held to maturity securities, fair value | 132,221 | 138,523 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 2,368 | 2,334 |
Loans, net | 220,748 | 221,896 |
Non-interest bearing | 198,543 | 174,933 |
Interest bearing | 527,707 | 424,398 |
Time deposits | 26,913 | 28,939 |
Borrowings under Bank Term Funding Program | 30,000 | |
Borrowings from Federal Home Loan Bank | 18,500 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 108,117 | 22,794 |
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 |
Non-interest bearing | 198,543 | 174,933 |
Interest bearing | 0 | 0 |
Time deposits | 0 | 0 |
Borrowings under Bank Term Funding Program | 0 | |
Borrowings from Federal Home Loan Bank | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Available for sale securities, fair value | 396,160 | 339,477 |
Held to maturity securities, fair value | 132,221 | 138,523 |
Other investments | 0 | 0 |
Federal Home Loan Bank stock | 2,368 | 2,334 |
Loans, net | 0 | 0 |
Non-interest bearing | 0 | 0 |
Interest bearing | 0 | 0 |
Time deposits | 0 | 0 |
Borrowings under Bank Term Funding Program | 30,000 | |
Borrowings from Federal Home Loan Bank | 18,500 | |
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 | 220,748 | 221,896 |
Non-interest bearing | 0 | 0 |
Interest bearing | 527,707 | 424,398 |
Time deposits | 26,913 | 28,939 |
Borrowings under Bank Term Funding Program | 0 | |
Borrowings from Federal Home Loan Bank | 0 | |
Reported Value Measurement [Member] | ||
Cash and due from banks | 108,117 | 22,794 |
Available for sale securities, fair value | 396,160 | 339,477 |
Held to maturity securities, net | 145,392 | 150,911 |
Other investments | 350 | 350 |
Federal Home Loan Bank stock | 2,368 | 2,334 |
Loans, net | 233,187 | 235,115 |
Non-interest bearing | 198,543 | 174,933 |
Interest bearing | 585,164 | 483,662 |
Time deposits | 27,792 | 29,895 |
Borrowings under Bank Term Funding Program | $ 30,000 | |
Borrowings from Federal Home Loan Bank | $ 18,500 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Federal Income Tax Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Current | $ 561 | $ 132 |
Current | 19% | 4% |
Deferred | $ 70 | $ 315 |
Deferred | 2% | 11% |
Income tax expense | $ 631 | $ 447 |
Total income tax (benefit) expense, rate | 21% | 15% |