Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 06, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000796534 | |
Entity Registrant Name | NATIONAL BANKSHARES INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 0-15204 | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 54-1375874 | |
Entity Address, Address Line One | 101 Hubbard Street | |
Entity Address, City or Town | Blacksburg | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 24062-9002 | |
City Area Code | 540 | |
Local Phone Number | 951-6300 | |
Title of 12(b) Security | Common Stock, par value $1.25 per share | |
Trading Symbol | NKSH | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 6,478,997 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 10,593 | $ 10,290 |
Interest-bearing deposits | 68,779 | 76,881 |
Securities available for sale, at fair value | 487,351 | 435,263 |
Restricted stock, at cost | 1,279 | 1,220 |
Loans held for sale | (3,690) | (905) |
Loans: | ||
Loans, net of unearned income and deferred fees and costs | 800,654 | 733,451 |
Less allowance for loan losses | (8,428) | (6,863) |
Loans, net | 792,226 | 726,588 |
Premises and equipment, net | 10,024 | 8,919 |
Accrued interest receivable | 5,238 | 4,285 |
Other real estate owned, net | 1,553 | 1,612 |
Goodwill | 5,848 | 5,848 |
Bank-owned life insurance | 36,226 | 35,567 |
Other assets | 12,691 | 14,459 |
Total assets | 1,435,498 | 1,321,837 |
Liabilities and Stockholders' Equity | ||
Noninterest-bearing demand deposits | 270,237 | 201,866 |
Interest-bearing demand deposits | 676,162 | 643,482 |
Savings deposits | 164,175 | 146,377 |
Time deposits | 103,008 | 128,028 |
Total deposits | 1,213,582 | 1,119,753 |
Accrued interest payable | 86 | 144 |
Other liabilities | 19,636 | 18,214 |
Total liabilities | 1,233,304 | 1,138,111 |
Commitments and contingencies | ||
Stockholders' Equity | ||
Common stock of $1.25 par value. Authorized 10,000,000 shares; issued and outstanding 6,489,574 shares at September 30, 2020 and December 31, 2019 | 8,112 | 8,112 |
Retained earnings | 190,901 | 184,120 |
Accumulated other comprehensive income (loss), net | 3,181 | (8,506) |
Total stockholders' equity | 202,194 | 183,726 |
Total liabilities and stockholders' equity | $ 1,435,498 | $ 1,321,837 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 6,489,574 | 6,489,574 |
Common stock, shares outstanding (in shares) | 6,489,574 | 6,489,574 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest Income | ||||
Interest and fees on loans | $ 8,606 | $ 8,548 | $ 25,491 | $ 25,277 |
Interest on interest-bearing deposits | 17 | 407 | 248 | 1,048 |
Interest on securities – taxable | 1,572 | 1,565 | 5,791 | 4,851 |
Interest on securities – nontaxable | 513 | 768 | 1,316 | 2,543 |
Total interest income | (10,708) | (11,288) | (32,846) | (33,719) |
Interest Expense | ||||
Interest on time deposits | 395 | 523 | 1,476 | 1,239 |
Interest on other deposits | 1,025 | 1,342 | 3,338 | 4,333 |
Total interest expense | (1,420) | (1,865) | (4,814) | (5,572) |
Net interest income | 9,288 | 9,423 | 28,032 | 28,147 |
Provision for loan losses | 154 | 95 | 1,985 | 350 |
Net interest income after provision for loan losses | 9,134 | 9,328 | 26,047 | 27,797 |
Noninterest Income: | ||||
Noninterest Income | 1,413 | 1,576 | 4,150 | 4,572 |
BOLI income | 219 | 230 | 659 | 681 |
Other income | 423 | 227 | 1,233 | 1,368 |
Realized securities gain, net | 14 | 162 | 96 | 182 |
Total noninterest income | 1,926 | 2,098 | 5,806 | 6,443 |
Noninterest Expense | ||||
Salaries and employee benefits | 3,211 | 3,540 | 10,882 | 11,163 |
Occupancy, furniture and fixtures | 452 | 468 | 1,360 | 1,410 |
Data processing and ATM | 799 | 823 | 2,396 | 2,363 |
FDIC assessment | 87 | 127 | 167 | |
Net cost of other real estate owned | 18 | 17 | 36 | 45 |
Franchise tax | 331 | 343 | 1,009 | 990 |
Other operating expense | 1,222 | 1,195 | 2,854 | 3,166 |
Total noninterest expense | 6,120 | 6,386 | 18,664 | 19,304 |
Income before income tax | 4,940 | 5,040 | 13,189 | 14,936 |
Income tax expense | 772 | 788 | 2,060 | 2,247 |
Net Income | $ 4,168 | $ 4,252 | $ 11,129 | $ 12,689 |
Basic net income per common share (in dollars per share) | $ 0.64 | $ 0.65 | $ 1.71 | $ 1.92 |
Fully diluted net income per common share (in dollars per share) | $ 0.64 | $ 0.65 | $ 1.71 | $ 1.92 |
Weighted average number of common shares outstanding– basic and diluted (in shares) | 6,489,574 | 6,499,957 | 6,489,574 | 6,611,354 |
Dividends declared per common share (in dollars per share) | $ 0.67 | $ 0.67 | ||
Deposit Account [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | $ 471 | $ 643 | $ 1,430 | $ 1,840 |
Product and Service, Other [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | 37 | 46 | 113 | 149 |
Credit and Debit Card [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | 339 | 350 | 1,031 | 1,015 |
Fiduciary and Trust [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | $ 423 | $ 440 | $ 1,244 | $ 1,208 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net Income | $ 4,168 | $ 4,252 | $ 11,129 | $ 12,689 |
Other Comprehensive Income, Net of Tax | ||||
Unrealized holding gain (loss) on available for sale securities net of tax | 2,256 | 544 | 11,763 | 8,089 |
Reclassification adjustment for gain included in net income, net of tax | (11) | (128) | (76) | (144) |
Other comprehensive income, net of tax | 2,245 | 416 | 11,687 | 7,945 |
Total Comprehensive Income | 6,413 | 4,668 | 22,816 | 20,634 |
Net Income | $ 4,168 | $ 4,252 | $ 11,129 | $ 12,689 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Unrealized holding gain (loss) on available for sale securities, tax | $ 601 | $ 146 | $ 3,127 | $ 2,149 |
Unrealized holding gain on securities transferred from held to maturity to available for sale, tax | $ (3) | $ (34) | $ (20) | $ (38) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2018 | $ 8,698 | $ 193,625 | $ (12,085) | $ 190,238 |
Net income | 12,689 | 12,689 | ||
Common stock repurchased | (586) | (17,939) | (18,525) | |
Other comprehensive income (loss), net of tax | 7,945 | 7,945 | ||
Balance at Sep. 30, 2019 | 8,112 | 184,016 | (4,140) | 187,988 |
Cash dividend | (4,359) | (4,359) | ||
Balance at Jun. 30, 2019 | 8,132 | 180,272 | (4,556) | 183,848 |
Net income | 4,252 | 4,252 | ||
Common stock repurchased | (20) | (508) | (528) | |
Other comprehensive income (loss), net of tax | 416 | 416 | ||
Balance at Sep. 30, 2019 | 8,112 | 184,016 | (4,140) | 187,988 |
Balance at Dec. 31, 2019 | 8,112 | 184,120 | (8,506) | 183,726 |
Net income | 11,129 | 11,129 | ||
Other comprehensive income (loss), net of tax | 11,687 | 11,687 | ||
Balance at Sep. 30, 2020 | 8,112 | 190,901 | 3,181 | 202,194 |
Cash dividend | (4,348) | (4,348) | ||
Balance at Jun. 30, 2020 | 8,112 | 186,733 | 936 | 195,781 |
Net income | 4,168 | 4,168 | ||
Other comprehensive income (loss), net of tax | 2,245 | 2,245 | ||
Balance at Sep. 30, 2020 | $ 8,112 | $ 190,901 | $ 3,181 | $ 202,194 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
AOCI Attributable to Parent [Member] | ||||
Other comprehensive income (loss), tax | $ 598 | $ 112 | $ 2,111 | |
Common stock repurchased, shares (in shares) | 16,000 | 468,400 | ||
Other comprehensive income (loss), tax | $ 3,107 | |||
Cash dividend, per share (in dollars per share) | $ 0.67 | $ 0.67 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Cash Flows from Operating Activities | |||||
Net income | $ 4,168 | $ 4,252 | $ 11,129 | $ 12,689 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Provision for loan losses | 154 | 95 | 1,985 | 350 | $ 126 |
Depreciation of bank premises and equipment | 529 | 552 | |||
Amortization of premiums and accretion of discounts, net | 1,016 | 52 | |||
Gains on disposal of fixed assets | (2) | (6) | |||
Gain on sales and calls of securities available for sale, net | (96) | (182) | |||
Loss (gain) and write-down on other real estate owned, net | (13) | 5 | |||
Loss on sale of repossessed assets, net | 1 | 4 | |||
Increase in cash value of bank-owned life insurance | (659) | (681) | |||
Origination of mortgage loans held for sale | (27,929) | (15,191) | |||
Proceeds from sale of mortgage loans held for sale | 25,560 | 13,127 | |||
Gain on sale of mortgage loans held for sale | (416) | (197) | |||
Net change in: | |||||
Accrued interest receivable | (953) | 927 | |||
Other assets | (136) | 416 | |||
Accrued interest payable | (58) | 44 | |||
Other liabilities | 192 | 452 | |||
Net cash provided by operating activities | 10,150 | 12,361 | |||
Cash Flows from Investing Activities | |||||
Net change in interest-bearing deposits | 8,102 | (91,999) | |||
Proceeds from calls, principal payments, sales and maturities of securities available for sale | 116,567 | 235,900 | |||
Purchase of securities available for sale | (154,781) | (134,854) | |||
Net change in restricted stock | (59) | ||||
Purchase of loan participations | (4,273) | (673) | |||
Collection of loan participations | 122 | 3,219 | |||
Loan originations and principal collections, net | (63,695) | (15,788) | |||
Proceeds from sale of other real estate owned | 72 | 592 | |||
Proceeds from sale of repossessed assets | 30 | 40 | |||
Recoveries on loans charged off | 219 | 218 | |||
Proceeds from sale and purchases of premises and equipment, net | (1,632) | (893) | |||
Net cash used in investing activities | (99,328) | (4,238) | |||
Cash Flows from Financing Activities | |||||
Net change in time deposits | (25,020) | 22,787 | |||
Net change in other deposits | 118,849 | (6,702) | |||
Common stock repurchased | (18,525) | ||||
Cash dividends paid | (4,348) | (4,359) | |||
Net cash provided by (used in) financing activities | 89,481 | (6,799) | |||
Net change in cash and due from banks | 303 | 1,324 | |||
Cash and due from banks at beginning of period | 10,290 | 12,882 | 12,882 | ||
Cash and due from banks at end of period | $ 10,593 | $ 14,206 | 10,593 | 14,206 | $ 10,290 |
Supplemental Disclosures of Cash Flow Information | |||||
Interest paid on deposits | 4,872 | 5,528 | |||
Income taxes paid | 2,785 | 1,756 | |||
Supplemental Disclosure of Noncash Activities | |||||
Loans charged against the allowance for loan losses | 639 | 696 | |||
Loans transferred to repossessed assets | 4 | 15 | |||
Unrealized gain on securities available for sale | 14,794 | 10,056 | |||
Increase in operating lease right-of-use asset during the period | 23 | 1,837 | |||
Increase in operating lease liability during the period | $ 23 | $ 1,837 |
Note 1 - General
Note 1 - General | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 : General The consolidated financial statements of National Bankshares, Inc. (“NBI”) and its wholly-owned subsidiaries, The National Bank of Blacksburg (the “Bank” or “NBB”) and National Bankshares Financial Services, Inc. (“NBFS”) (collectively, the “Company”), conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to general practices within the banking industry. The accompanying interim period consolidated financial statements are unaudited; however, in the opinion of management, all adjustments consisting of normal recurring adjustments, which are necessary for a fair presentation of the consolidated financial statements, have been included. The results of operations for the three nine September 30, 2020 not 10 2019 10 1934 www.nationalbankshares.com Reclassifications Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no Risks and Uncertainties The outbreak of COVID- 19 19 not The Congress of the United States, along with the President of the United States and the Federal Reserve have taken historic actions. Most notably, the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was signed into law at the end of March 2020 $2 The Company’s business is dependent upon the willingness and ability of its employees and customers to conduct banking and other financial transactions. If the global response to contain COVID- 19 not 19 Financial position and results of operations The Company’s fee income has been negatively impacted during 2020 may may 19 The Company’s interest income has declined during 2020 may March 2020. In keeping with guidance from regulators, the Company has actively worked with COVID- 19 not may Capital and Liquidity While the Company believes that it has sufficient capital to withstand an extended economic recession brought about by COVID- 19, The Company maintains access to multiple sources of liquidity. Wholesale funding markets are currently available to the Company. If the uncertainty caused by the COVID- 19 Asset valuation Currently, the Company does not 19 not The Company tests goodwill for impairment annually, usually during the fourth September 30 three first second third The COVID- 19 March 30, 2020 June 30, 2020. third September 30, 2020 fourth 2020. If in the future the pandemic or other adverse events cause a sustained decline in the Company’s stock price or the occurrence of what management deems to be a triggering event, under certain circumstances prescribed by U.S. GAAP, the Company will perform goodwill impairment testing as needed, which may Processes, controls and business continuity plan In response to the pandemic, the Company deployed its business continuity plan, including a remote working strategy for certain employees. The Company does not No not 19. not Lending operations and accommodations to borrowers In keeping with regulatory guidance to work with borrowers during this unprecedented situation and as outlined in the CARES Act, the Company has provided modifications for its borrowers who are adversely affected by the pandemic. Depending on the demonstrated need of the borrower, the Company has provided payment extensions, granted periods of interest only payments to otherwise amortizing loans, and interest rate reductions. As of September 30, 2020, 19 March 2020 April 2020, not 90 With the passage of the Paycheck Protection Program (“PPP”), administered by the Small Business Administration (“SBA”), the Company is actively participating in assisting its customers through the program. Most of the PPP loans the Company made have a two 1%. second five 2 5 September 30, 2020, Credit The Company is working with customers directly affected by COVID- 19, 19 19 |
Note 2 - Loan Portfolio
Note 2 - Loan Portfolio | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 2 : Loan Portfolio The loan portfolio, excluding loans held for sale, was comprised of the following. September 30, 2020 December 31, 2019 Real estate construction $ 36,994 $ 42,303 Consumer real estate 178,546 181,472 Commercial real estate 393,704 365,373 Commercial non real estate 100,906 46,576 Public sector and IDA 59,035 63,764 Consumer non real estate 33,614 34,539 Gross loans 802,799 734,027 Less unearned income and deferred fees and costs (2,145 ) (576 ) Loans, net of unearned income and deferred fees and costs $ 800,654 $ 733,451 |
Note 3 - Allowance for Loan Los
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 3 : Allowance for Loan Losses, Nonperforming Assets and Impaired Loans The allowance for loan losses methodology incorporates individual evaluation of impaired loans and collective evaluation of groups of non-impaired loans. The Company performs ongoing analysis of the loan portfolio to determine credit quality and to identify impaired loans. Credit quality is rated based on the loan’s payment history, the borrower’s current financial situation and value of the underlying collateral. Impaired Loans Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts will not not not six may 2019 10 1: TDRs impact the estimation of the appropriate level of the allowance for loan losses. If the restructuring included forgiveness of a portion of principal or accrued interest, the charge-off is included in the historical charge-off rates applied to the collective evaluation methodology. Restructured loans are individually evaluated for impairment, and the amount of a restructured loan’s book value in excess of its fair value is accrued as a specific allocation in the allowance for loan losses. If a TDR loan payment exceeds 90 not may Collectively-Evaluated Loans The Company evaluated characteristics in the loan portfolio and determined major segments and smaller classes within each segment. These characteristics include collateral type, repayment sources, and (if applicable) the borrower’s business model. The methodology for calculating reserves for collectively-evaluated loans is applied at the class level. Portfolio Segments and Classes The segments and classes used in determining the allowance for loan losses are as follows. Real Estate Construction Construction, residential Construction, other Consumer Real Estate Equity lines Residential closed-end first Residential closed-end junior liens Investor-owned residential real estate Commercial Real Estate Multifamily real estate Commercial real estate, owner-occupied Commercial real estate, other Commercial Non Real Estate Commercial and industrial Public Sector and IDA State and political subdivisions Consumer Non Real Estate Credit cards Automobile Other consumer Historical Loss Rates The Company’s allowance methodology for collectively evaluated loans applies historical loss rates by class to current class balances as part of the process of determining required reserves. Class loss rates are calculated as the net charge-offs for the class as a percentage of average class balance. The Company averages loss rates for the most recent 8 Two loss rates for each class are calculated: total net charge-offs for the class as a percentage of average class loan balance (“class loss rate”), and total net charge-offs for the class as a percentage of average classified loans in the class (“classified loss rate”). Classified loans are those with risk ratings of “substandard” or lower. Net charge-offs in both calculations include charge-offs and recoveries of classified and non-classified loans as well as those associated with impaired loans. Class historical loss rates are applied to non-classified loan balances at the reporting date, and classified historical loss rates are applied to classified balances at the reporting date. Risk Factors In addition to historical loss rates, risk factors pertinent to credit risk for each class are analyzed to estimate reserves for collectively evaluated loans. Factors include changes in national and local economic and business conditions, the nature and volume of classes within the portfolio, loan quality, loan officers’ experience, lending policies and the Company’s loan review system. The analysis of certain factors results in standard allocations to all segments and classes. These factors include the risk from changes in lending policies, loan officers’ average years of experience, and economic factors including unemployment levels, bankruptcy rates, interest rate environment, and competition/legal/regulatory environments. Also applied to all segments and classes is an economic factor implemented to address COVID- 19 not Factors analyzed for each class, with resultant allocations based upon the level of risk assessed for each class, include the risk from changes in loan review, levels of past due loans, levels of nonaccrual loans, current class balance as a percentage of total loans, and the percentage of high risk loans within the class. Additionally, factors specific to each segment are analyzed and result in allocations to the segment. Please refer to the Company’s 2019 10 1: Real estate construction loans are subject to general risks from changing commercial building and housing market trends and economic conditions that may The credit quality of consumer real estate is subject to risks associated with the borrower’s repayment ability and collateral value, measured generally by analyzing local unemployment and bankruptcy trends, local housing market trends, and interest rates. The commercial real estate segment includes loans secured by multifamily residential real estate, commercial real estate occupied by the owner/borrower, and commercial real estate leased to non-owners. Loans in the commercial real estate segment are impacted by economic risks from changing commercial real estate markets, rental markets for multi-family housing and commercial buildings, business bankruptcy rates, local unemployment and interest rate trends that would impact the businesses housed by the commercial real estate. Commercial non-real estate loans are secured by collateral other than real estate, or are unsecured. Credit risk for commercial non-real estate loans is subject to economic conditions, generally monitored by local business bankruptcy trends, and interest rates. Included in this segment are the SBA-guaranteed PPP loans, which are assumed to be not Public sector and Industrial Development Authority (“IDA”) loans are extended to municipalities and related entities. Credit risk is based upon the entity’s ability to repay and interest rate trends. Consumer non-real estate includes credit cards, automobile and other consumer loans. Credit cards and certain other consumer loans are unsecured, while collateral is obtained for automobile loans and other consumer loans. Credit risk stems primarily from the borrower’s ability to repay, measured by average unemployment, average personal bankruptcy rates and interest rates. Factor allocations applied to each class are increased for loans rated special mention and increased to a greater extent for loans rated classified. The Company allocates additional reserves for “high risk” loans. High risk loans include junior liens, interest only and high loan to value loans. A detailed analysis showing the allowance roll-forward by portfolio segment and related loan balance by segment follows. Activity in the Allo wance for Loan Losses for the Nine Months Ended September 30, 2020 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Balance, December 31, 2019 $ 400 $ 1,895 $ 2,559 $ 555 $ 478 $ 650 $ 326 $ 6,863 Charge-offs --- (62 ) (15 ) (372 ) --- (190 ) --- (639 ) Recoveries --- 18 53 6 --- 142 --- 219 Provision for (recovery of) loan losses 24 311 1,047 510 53 (5 ) 45 1,985 Balance, September 30, 20 20 $ 424 $ 2,162 $ 3,644 $ 699 $ 531 $ 597 $ 371 $ 8,428 A ctivity in the Allowance for Loan Losses for the Nine Months Ended September 30 , 201 9 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Balance, December 31, 2018 $ 398 $ 2,049 $ 2,798 $ 602 $ 583 $ 750 $ 210 $ 7,390 Charge-offs --- (147 ) (150 ) --- --- (399 ) --- (696 ) Recoveries --- --- 37 --- --- 181 --- 218 Provision for (recovery of) loan losses 56 199 14 (75 ) (93 ) 156 93 350 Balance, September 30, 2019 $ 454 $ 2,101 $ 2,699 $ 527 $ 490 $ 688 $ 303 $ 7,262 A ctivity in the Allowance for Loan Losses for the Year Ended December 31, 201 9 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Balance, December 31, 2018 $ 398 $ 2,049 $ 2,798 $ 602 $ 583 $ 750 $ 210 $ 7,390 Charge-offs --- (192 ) (150 ) (47 ) --- (531 ) --- (920 ) Recoveries --- --- 49 1 --- 217 --- 267 Provision for (recovery of) loan losses 2 38 (138 ) (1 ) (105 ) 214 116 126 Balance, December 31, 2019 $ 400 $ 1,895 $ 2,559 $ 555 $ 478 $ 650 $ 326 $ 6,863 Allowance for Loan Losses as of September 30 , 20 20 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 2 $ --- $ 102 $ --- $ --- $ --- $ 104 Collectively evaluated for impairment 424 2,160 3,644 597 531 597 371 8,324 Total $ 424 $ 2,162 $ 3,644 $ 699 $ 531 $ 597 $ 371 $ 8,428 Allowance for Loan Losses as of December 31, 201 9 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 2 $ --- $ 108 $ --- $ --- $ --- $ 110 Collectively evaluated for impairment 400 1,893 2,559 447 478 650 326 6,753 Total $ 400 $ 1,895 $ 2,559 $ 555 $ 478 $ 650 $ 326 $ 6,863 Loans as of September 30 , 2020 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 244 $ 3,887 $ 861 $ --- $ 3 $ --- $ 4,995 Collectively evaluated for impairment 36,994 178,302 389,817 100,045 59,035 33,611 --- 797,804 Total $ 36,994 $ 178,546 $ 393,704 $ 100,906 $ 59,035 $ 33,614 $ --- $ 802,799 Loans as of December 31, 201 9 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 759 $ 3,608 $ 918 $ --- $ 4 $ --- $ 5,289 Collectively evaluated for impairment 42,303 180,713 361,765 45,658 63,764 34,535 --- 728,738 Total $ 42,303 $ 181,472 $ 365,373 $ 46,576 $ 63,764 $ 34,539 $ --- $ 734,027 A summary of ratios for the allowance for loan losses follows. As of and for the Nine Months Ended September 30, Year E nded December 31, 2020 2019 2019 Ratio of allowance for loan losses to the end of period loans, net of unearned income and deferred fees and costs (2) 1.05 % 1.01 % 0.94 % Ratio of net charge-offs to average loans, net of unearned income and deferred fees and costs (1) 0.07 % 0.09 % 0.09 % ( 1 Net charge-offs are on an annualized basis. ( 2 The ratio of the allowance for loan losses to the end of period loans, net of unearned income and deferred fees and costs at September 30, 2020 not A summary of nonperforming assets follows. September 30, December 31, 2020 2019 2019 Nonperforming assets: Nonaccrual loans $ 736 $ 699 $ 164 Restructured loans in nonaccrual 2,866 3,377 3,211 Total nonperforming loans 3,602 4,076 3,375 Other real estate owned, net 1,553 1,470 1,612 Total nonperforming assets $ 5,155 $ 5,546 $ 4,987 Ratio of nonperforming assets to loans, net of unearned income and deferred fees and costs, plus other real estate owned 0.64 % 0.77 % 0.68 % Ratio of allowance for loan losses to nonperforming loans (1) 233.98 % 178.16 % 203.35 % ( 1 The Company defines nonperforming loans as nonaccrual loans and restructured loans that are nonaccrual. Nonperforming loans do not 90 A summary of loans past due 90 As of and For the Nine Months Ended September 30, Year ended 2020 2019 2019 Loans past due 90 days or more and still accruing $ 236 $ 212 $ 231 Ratio of loans past due 90 days or more and still accruing to loans, net of unearned income and deferred fees and costs 0.03 % 0.03 % 0.03 % Accruing restructured loans $ 1,426 $ 1,880 $ 1,729 Impaired loans: Impaired loans with no valuation allowance $ 3,939 $ 5,163 $ 4,174 Impaired loans with a valuation allowance 1,056 1,070 1,115 Total impaired loans $ 4,995 $ 6,233 $ 5,289 Valuation allowance (104 ) (120 ) (110 ) Impaired loans, net of allowance $ 4,891 $ 6,113 $ 5,179 Average recorded investment in impaired loans (1) $ 5,227 $ 6,729 $ 5,359 Interest income recognized on impaired loans, after designation as impaired $ 49 $ 144 $ 171 Amount of income recognized on a cash basis $ --- $ --- $ --- ( 1 Nonaccrual loan relationships that meet the Company’s balance threshold of $250 $250 not No nine September 30, 2020 September 30, 2019 December 31, 2019. A detailed analysis of investment in impaired loans and associated reserves, segregated by loan class follows. Impaired Loans as of September 30, 2020 Contractual Total Investment (1) Recorded (1 ) Which There is No Recorded (1) Related Allowance Co nsumer Real Estate (2) Investor-owned residential real estate $ 244 $ 244 $ 49 $ 195 $ 2 Commercial Real Estate (2) Commercial real estate, owner-occupied 893 846 846 --- --- Commercial real estate, other 3,521 3,041 3,041 --- --- Commercial Non Real Estate (2) Commercial and industrial 861 861 --- 861 102 Consumer Non Real Estate (2) Automobile 3 3 3 --- --- Total $ 5,522 $ 4,995 $ 3,939 $ 1,056 $ 104 ( 1 ( 2 Impaired Loans as of December 31, 2019 Contractual Total Investment (1) Recorded Investment (1) Recorded Investment (1) Related Co nsumer Real Estate (2) Equity lines $ 100 $ 100 $ 100 $ --- $ --- Residential closed-end first liens 221 221 221 --- --- Investor-owned residential real estate 441 438 241 197 2 Commercial Real Estate (2) Multifamily real estate 278 278 278 --- --- Commercial real estate, owner occupied 929 895 895 --- --- Commercial real estate, other 2,867 2,435 2,435 --- --- Commercial Non-Real Estate (2) Commercial and industrial 917 918 --- 918 108 Consumer Non-Real Estate (2) Automobile 4 4 4 --- --- Total $ 5,757 $ 5,289 $ 4,174 $ 1,115 $ 110 ( 1 Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. ( 2 Only classes with impaired loans are shown. The following tables show the average recorded investment and interest income recognized for impaired loans. For the Nine Months Ended September 30, 2020 Average Recorded (1) Interest Consumer Real Estate (2) Investor-owned residential real estate $ 245 $ 11 Commercial Real Estate (2) Commercial real estate, owner occupied 858 16 Commercial real estate, other 3,223 5 Commercial Non Real Estate (2) Commercial and industrial 897 17 Consumer Non Real Estate (2) Automobile 4 --- Total $ 5,227 $ 49 ( 1 Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. ( 2 Only classes with impaired loans are shown. For the Nine Months Ended September 30, 2019 Average (1) Interest Co nsumer Real Estate (2) Equity lines $ 97 $ 5 Residential closed-end first liens 990 10 Residential closed-end junior liens 137 6 Investor-owned residential real estate 432 14 Commercial Real Estate (2) Multifamily real estate 463 9 Commercial real estate, owner occupied 1,174 39 Commercial real estate, other 2,451 43 Commercial Non Real Estate (2) Commercial and industrial 976 18 Consumer Non Real Estate (2) Automobile 9 --- Total $ 6,729 $ 144 ( 1 Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. ( 2 Only classes with impaired loans are shown. For the Year Ended December 31, 2019 Average (1) Interest Consumer Real Estate (2) Equity lines $ 98 $ 6 Residential closed-end junior liens 225 11 Investor-owned residential real estate 439 17 Commercial Real Estate (2) Multifamily real estate 284 12 Commercial real estate, owner occupied 913 41 Commercial real estate, other 2,435 59 Commercial Non-Real Estate (2) Commercial and industrial 962 25 Co nsumer Non-Real Estate (2) Automobile 3 --- Total $ 5,359 $ 171 ( 1 Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. ( 2 Only classes with impaired loans are shown. The Company reviews nonaccrual loans on an individual loan basis to determine whether future payments are reasonably assured. To satisfy this criteria, the Company’s evaluation must determine that the underlying cause of the original delinquency or weakness that indicated nonaccrual status has been resolved, such as receipt of new guarantees, increased cash flows that cover the debt service or other resolution. Nonaccrual loans that demonstrate reasonable assurance of future payments and that have made at least six may An analysis of past due and nonaccrual loans September 30, 2020 30 – 89 Days 90 or M ore 90 or More Days Nonaccruals (2) Real Estate Construction (1) Construction, other $ 18 $ --- $ --- $ --- Consumer Real Estate (1) Equity Lines 30 19 19 --- Residential closed-end first liens 526 121 39 82 Investor-owned residential real estate 107 --- --- --- Commercial Real Estate (1) Commercial real estate, owner-occupied 147 582 103 479 Commercial real estate, other --- 654 --- 3,041 Commercial Non Real Estate (1) Commercial and industrial 127 61 61 --- Consumer Non Real Estate (1) Credit cards 5 2 2 --- Automobile 170 --- --- --- Other consumer loans 165 12 12 --- Total $ 1,295 $ 1,451 $ 236 $ 3,602 ( 1 Only classes with past-due or nonaccrual loans are shown. ( 2 ) Includes current and past due loans in nonaccrual status. Includes impaired loans in nonaccrual status. December 31, 2019 30 – 89 Days 90 or M ore 90 or More Nonaccruals (2) Real Estate Construction (1) Construction, other $ 19 $ --- $ --- $ --- Consumer Real Estate (1) Residential closed-end first liens 499 210 188 22 Residential closed-end junior liens 83 --- --- --- Investor-owned residential real estate --- 264 --- 264 Commercial Real Estate (1) Multifamily real estate 94 --- --- --- Commercial real estate, owner occupied --- 287 --- 514 Commercial real estate, other --- --- --- 2,435 Commercial Non-Real Estate (1) Commercial and industrial 45 153 17 136 Consumer Non-Real Estate (1) Credit cards 4 --- --- --- Automobile 256 14 14 4 Other consumer loans 70 12 12 --- Total $ 1,070 $ 940 $ 231 $ 3,375 ( 1 Only classes with past-due or nonaccrual loans are shown. ( 2 ) Includes current and past due loans in nonaccrual status. Includes impaired loans in nonaccrual status. The estimate of credit risk for non-impaired loans is obtained by applying allocations for internal and external factors. The allocations are increased for loans that exhibit greater credit quality risk. Credit quality indicators, which the Company terms risk grades, are assigned through the Company’s credit review function for larger loans and selective review of loans that fall below credit review thresholds. Loans that do not 60 not not 75 Determination of risk grades was completed for the portfolio as of September 30, 2020 December 31, 2019. The following displays collectively-evaluated loans by credit quality indicator. September 30 , 2020 Pass (1) Special Mention (1) Classified (1) Real Estate Construction Construction, 1-4 family residential $ 7,052 $ --- $ --- Construction, other 29,942 --- --- Consumer Real Estate Equity lines 14,710 --- 19 Closed-end first liens 87,555 67 344 Closed-end junior liens 3,530 --- --- Investor-owned residential real estate 72,077 --- --- Commercial Real Estate Multifamily residential real estate 83,413 269 --- Commercial real estate owner-occupied 152,188 --- 143 Commercial real estate, other 153,804 --- --- Commercial Non Real Estate Commercial and industrial 99,984 --- 61 Public Sector and IDA State and political subdivisions 59,035 --- --- Consumer Non Real Estate Credit cards 4,676 --- --- Automobile 12,620 --- --- Other consumer 16,309 --- 6 Total $ 796,895 $ 336 $ 573 ( 1 Excludes impaired, if any. The following displays collectively-evaluated loans by credit quality indicator. December 31, 201 9 Pass (1) Special Mention (1) Classified (1) Real Estate Construction Construction, 1-4 family residential $ 7,590 $ --- $ --- Construction, other 34,713 --- --- Consumer Real Estate Equity lines 16,435 --- --- Residential closed-end first liens 94,814 --- 517 Residential closed-end junior liens 3,861 --- --- Investor-owned residential real estate 65,063 --- 23 Commercial Real Estate Multifamily residential real estate 87,934 --- 94 Commercial real estate owner-occupied 127,937 --- 164 Commercial real estate, other 145,636 --- --- Commercial Non-Real Estate Commercial and industrial 45,387 135 136 Public Sector and IDA State and political subdivisions 63,764 --- --- Consumer Non-Real Estate Credit cards 5,703 --- --- Automobile 14,810 --- 19 Other consumer 13,995 --- 8 Total $ 727,642 $ 135 $ 961 ( 1 Sales , Purchases and Reclassification of Loans The Company finances mortgages under “best efforts” contracts with mortgage purchasers. The mortgages are designated as held for sale upon initiation. There have been no Troubled Debt Restructurings From time to time the Company modifies loans that are designated TDRs. Total TDRs amounted to $4,292 at September 30, 2020, December 31, 2019, September 30, 2019. not three nine September 30, 2020 one three nine September 30, 2019. The following table presents restructuring by class that occurred during the three nine September 30, 2019. Number of Contracts Pre-Modification Outstanding Principal Balance Post-Modification Outstanding Principal Balance Residential Real Estate Equity lines 1 $ 98 $ 98 Total 1 $ 98 $ 98 The restructuring completed during the three nine September 30, 2019 30 September 30, 2019 not second 2020. In accordance with regulatory guidance and provisions in the CARES Act to provide relief during the COVID- 19 September 30, 2020, 19 19 not 30 December 31, 2019. not The Company is monitoring loans with COVID- 19 not not The Company analyzed its TDR portfolio for loans that defaulted during the three nine September 30, 2020 September 30, 2019, 12 one 90 September 30, 2020, none 12 September 30, 2019, seven one 12 no 12 no |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 : Securities The amortized costs, gross unrealized gains, gross unrealized losses and fair values for securities available for sale by major security type are as follows. September 30, 2020 Amortized Costs Gross Unrealized Gains Gross Unrealized Losses Fair Values Available for Sale: U.S. Government agencies and corporations $ 57,906 $ 4,712 $ 25 $ 62,593 State and political subdivisions 157,528 5,936 350 163,114 Mortgage-backed securities 254,025 4,363 64 258,324 Corporate debt securities 3,001 319 --- 3,320 Total securities available for sale $ 472,460 $ 15,330 $ 439 $ 487,351 December 31, 2019 Amortized Costs Gross Unrealized Gains Gross Unrealized Losses Fair Values Available for S ale: U.S. Government agencies and corporations $ 119,903 $ 1,995 $ 775 $ 121,123 State and political subdivisions 88,092 791 644 88,239 Mortgage-backed securities 223,173 45 1,435 221,783 Corporate debt securities 3,998 120 --- 4,118 Total securities available for sale $ 435,166 $ 2,951 $ 2,854 $ 435,263 The amortized cost and fair value of single maturity securities available for sale at September 30, 2020, may may September 30 , 2020 Amortized Cost Fair Value Available for S ale: Due in one year or less $ 8,732 $ 8,806 Due after one year through five years 4,837 5,010 Due after five years through ten years 130,312 135,038 Due after ten years 328,579 338,497 Total securities available for sale $ 472,460 $ 487,351 Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows. September 30, 2020 Less Than 12 Months 12 Months or More Fair Unrealized Fair Unrealized Temporarily Impaired Securities: U.S. Government agencies and corporations $ 4,972 $ 25 $ --- $ --- State and political subdivisions 26,545 338 626 12 Mortgage-backed securities 17,760 60 5,011 4 Total $ 49,277 $ 423 $ 5,637 $ 16 December 31, 2019 Less Than 12 Months 12 Months or More Fair Unrealized Fair Unrealized Temporarily I mpaired S ecurities: U.S. Government agencies and corporations $ 53,244 $ 738 $ 38,962 $ 37 State and political subdivisions 35,934 596 591 48 Mortgage-backed securities 181,279 1,435 --- --- Total $ 270,457 $ 2,769 $ 39,553 $ 85 The Company had 37 securities with a fair value of $54,914 that were temporarily impaired at September 30, 2020. twelve September 30, 2020 State and political subdivisions. not not may not Mortgage-backed securities. not not may not Restricted S tock. The Company held restricted stock of $1,279 as of September 30, 2020 December 31, 2019. not Redemption of FHLB stock is subject to certain limitations and conditions. At its discretion, the FHLB may September 30, 2020. September 30, 2020, not Management regularly monitors the credit quality of the investment portfolio. Changes in ratings are noted and follow-up research on the issuer is undertaken when warranted. Management intends to carefully monitor any changes in bond quality. |
Note 5 - Recent Accounting Pron
Note 5 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 5 : Recent Accounting Pronouncements In June 2016, No. 2016 13, 326 2016 13 326, 2019 04, 2019 05, 2019 10, 2019 11, 2020 02, 2020 03. not December 15, 2022. 2016 13 Effective November 25, 2019, 119. 119 326, 1 2 3 4 In December 2019, 2019 12, 740 740 December 15, 2020, 2019 12 In January 2020, 2020 01, 321 323 815 321, 323, 815.” 2016 01 December 15, 2020, not 2020 01 On March 12, 2020, April 27, 2020. first 404 $75 $700 second $700 $100 no $100 10 not $1.0 not In August 2020, No. 2020 06 470 20 815 40 no December 15, 2021, December 15, 2023, not 2020 06 In October 2020, 2020 08, 310 20, 310 20 35 33 December 15, 2021, not No. 2020 08 not 2020 08 In August 2018, 2018 14, 715 20 715 20 50 3, December 15, 2020. not 2018 14 Recently Adopted Accounting Developments In January 2017, 2017 04, 350 2017 04” 2017 04 first two 2, 2017 04 January 1, 2020. not In August 2018, 2018 13, 820 2018 13” 2018 13 3 may 3 820 2018 13 January 1, 2020. not In March 2020 ( April 2020), 310 40, 310 40” not 19 not six 30 1: 3: 2: |
Note 6 - Defined Benefit Plan
Note 6 - Defined Benefit Plan | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 6 : Defined Benefit Plan The following tables present the components of net periodic benefit cost: Three Months Ended September 30, 2020 2019 Service cost $ 270 $ 200 Interest cost 205 221 Expected return on plan assets (420 ) (365 ) Amortization of prior service cost (27 ) (27 ) Recognized net actuarial loss 177 158 Net periodic benefit cost $ 205 $ 187 Nine Months Ended September 30, 2020 2019 Service cost $ 810 $ 600 Interest cost 615 663 Expected return on plan assets (1,260 ) (1,095 ) Amortization of prior service cost (81 ) (81 ) Recognized net actuarial loss 531 474 Net periodic benefit cost $ 615 $ 561 The service cost component of net periodic benefit cost is included in salaries and employee benefits expense in the consolidated statements of income. All other components are included in other operating expenses in the consolidated statements of income. For the nine September 30, 2020, not |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7 : Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. U.S. GAAP requires that valuation techniques maximize the use of the observable inputs and minimize the use of the unobservable inputs. U.S. GAAP also establishes a fair value hierarchy which prioritizes the valuation inputs into three one three Level 1 Valuation is based on quoted prices in active markets for identical assets and liabilities. Level 2 Valuation is based on observable inputs including: ● quoted prices in active markets for similar assets and liabilities, ● quoted prices for identical or similar assets and liabilities in less active markets, ● inputs other than quoted prices that are observable, and ● model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market. Level 3 Valuation is based on model-based techniques that use one Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not September 30, 2020 December 31, 2019. The following describes the valuation techniques used by the Company to measure certain financial assets and liabilities recorded at fair value on a recurring and non-recurring basis in the financial statements: Financial Instruments Measured at Fair Value on a Recurring Basis Securities Available for Sale Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1 not may 2 The carrying value of restricted Federal Reserve Bank of Richmond and FHLB stock approximates fair value based upon the redemption provisions of each entity and is therefore excluded from the following table. The following tables present the balances of financial assets measured at fair value on a recurring basis as of September 30, 2020 December 31, 2019. Fair Value Measurements at September 30, 2020 Using Description Balance as of Quoted Prices Significant Significant U.S. Government agencies and corporations $ 62,593 $ --- $ 62,593 $ --- State and political subdivisions 163,114 --- 163,114 --- Mortgage-backed securities 258,324 --- 258,324 --- Corporate debt securities 3,320 --- 3,320 --- Total securities available for sale $ 487,351 $ --- $ 487,351 $ --- Fair Value Measurements at December 31, 2019 Using Description Balance as of Quoted Prices Significant Significant U.S. Government agencies and corporations $ 121,123 $ --- $ 121,123 $ --- State and political subdivisions 88,239 --- 88,239 --- Mortgage-backed securities 221,783 --- 221,783 --- Corporate debt securities 4,118 --- 4,118 --- Total securities available for sale $ 435,263 $ --- $ 435,263 $ --- The Company’s securities portfolio is valued using Level 2 third two third 2 may Interest Rate Loan Contracts and Forward Contracts The Company originates consumer real estate loans which it intends to sell to a correspondent lender. Interest rate loan contracts and forward contracts result from originating loans held for sale and are derivatives reported at fair value. The Company enters interest rate lock commitments with customers who apply for a loan which it intends to sell to a correspondent lender. The interest rate loan contract ends when the loan closes or the customer withdraws their application. Fair value of the interest rate loan contracts is based upon the correspondent lender’s pricing quotes at the report date. Fair value is adjusted for the estimated probability of the loan closing with the borrower. At the time the Company enters into an interest rate loan contract with a customer, it also enters into a best efforts forward sales commitment with the correspondent lender. If the loan has been closed and funded, the best efforts commitment converts to a mandatory forward sales commitment. Fair value is based on the gain or loss that would occur if the Company were to pair-off the transaction with the investor at the measurement date. This is a level 3 Interest rate loan contracts and forward contracts are valued based on quotes from the correspondent lender at the reporting date. Pricing changes daily and if a loan has not may Fair Value Measurements at September 30, 2020 Using Description Balance as of Quoted Prices Significant Significant Interest rate loan contracts $ 23 $ --- $ --- $ 23 Forward contracts $ (65 ) $ --- $ --- $ (65 ) Fair Value Measurements at December 31, 2019 Using Description Balance as of Quoted Prices Significant Significant Interest rate loan contracts $ 1 $ --- $ --- $ 1 Forward contracts $ (4 ) $ --- $ --- $ (4 ) September 30, 2020 Valuation Technique Unobservable Input Range (Weighted Average) Interest rate loan contracts Market approach Pull-through rate 85.82% - 100.00% (92.39%) Forward contracts Market approach Pull-through rate 85.82% - 100.00% (92.39%) Interest rate loan contracts Market approach Current reference price 101.46% - 104.36% (102.47%) (1) Forward contracts Market approach Current reference price 101.46% - 104.36% (102.60%) (1) ( 1 Current reference prices were weighted by the relative amount of the loan December 31, 2019 Valuation Technique Unobservable Input Range (Weighted Average) Interest rate loan contracts Market approach Pull-through rate 90.00% (1) Forward contracts Market approach Pull-through rate 65.60% (1) Interest rate loan contracts Market approach Current reference price 101.49% - 102.06% (101.72%) (2) Forward contracts Market approach Current reference price 101.49% - 103.28% (101.91%) (2) ( 1 all contracts are valued using the same pull-through rate ( 2 Current reference prices were weighted by the relative amount of the loan Financial Instruments Measured at Fair Value on a Non- Recurring Basis Certain financial instruments are measured at fair value on a nonrecurring basis in accordance with U.S. GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a nonrecurring basis in the financial statements. Loans Held for Sale Loans held for sale are carried at the lower of cost or fair value. These loans currently consist of one four not 2 September 30, 2020 December 31, 2019. Impaired Loans Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due will not The fair value of an impaired loan and measurement of associated loss is based on one three 1 3 Loans measured using the fair value of collateral method may 2 3. may 1 4 $250 $500. 1 4 $250 $500 The value of real estate collateral is determined by a current (less than 24 2. 3. 3. 2 3 not 3 The following table summarizes the Company’s impaired loans that were measured at fair value on a nonrecurring basis at September 30, 2020 December 31, 2019. Carrying Value Date Description Balance Quoted Prices Significant Significant Assets: September 30, 2020 Impaired loans net of valuation allowance $ 952 $ --- $ --- $ 952 December 31, 2019 Impaired loans net of valuation allowance 1,005 --- --- 1,005 The following tables present information about Level 3 September 30, 2020 December 31, 2019. Impaired Loans Valuation Technique Unobservable Input Range (Weighted Average (1) September 30, 2020 Present value of cash flows Discount rate 5.50% – 6.50% (5.78%) December 31, 2019 Present value of cash flows Discount rate 5.50% – 6.50% (5.77%) ( 1 Unobservable inputs were weighted by the relative fair value of the impaired loans. At September 30, 2020 December 31, 2019, may may Other Real Estate Owned Certain assets such as other real estate owned (“OREO”) are measured at fair value less cost to sell. Valuation of OREO is determined using current appraisals from independent parties, a Level 2 3 3 The following table summarizes the Company’s OREO that was measured at fair value on a nonrecurring basis. Carrying Value Date Description Balance Quoted Prices Significant Significant Assets: September 30, 2020 Other real estate owned net of valuation allowance $ 1,553 $ --- $ --- $ 1,553 December 31, 2019 Other real estate owned net of valuation allowance 1,612 --- --- 1,612 The following tables present information about Level 3 September 30, 2020 December 31, 2019. September 30, 2020 Valuation Technique Unobservable Input Range (Weighted Average (1) Other real estate owned Discounted appraised value Selling cost 0.00% (2) – 5.54% (0.46%) Other real estate owned Discounted appraised value Discount for lack of marketability and age of appraisal 0.00% – 11.35% (0.95%) December 31, 2019 Valuation Technique Unobservable Input Range (Weighted Average (1) Other real estate owned Discounted appraised value Selling cost 0.00% (2) – 6.00% (0.68%) Other real estate owned Discounted appraised value Discount for lack of marketability and age of appraisal 0.00% – 45.17% (1.28%) ( 1 Discounts were weighted by the relative appraised value of the OREO properties. ( 2 The appraised value is discounted by selling costs if the OREO property is listed with a realtor and if the appraised value exceeds the list price, less estimated selling costs. Selling costs do not At September 30, 2020 December 31, 2019, Discounts for selling costs and in some instances, marketability, result when the Company markets OREO properties via local realtors. The Company works with the realtor to determine the list price, which may 6% 10% may may There is uncertainty in determining discounts to appraised value. Future changes to marketability assumptions or updated appraisals may 19 may may may The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2020 December 31, 2019. no September 30 , 2020 Carrying Quoted Prices in Active Markets for Identical Assets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Financial Assets: Cash and due from banks $ 10,593 $ 10,593 $ --- $ --- Interest-bearing deposits 68,779 68,779 --- --- Securities 487,351 --- 487,351 --- Restricted securities 1,279 --- 1,279 --- Loans held for sale 3,690 --- 3,690 --- Loans, net 792,226 --- --- 783,201 Accrued interest receivable 5,238 --- 5,238 --- Bank-owned life insurance 36,226 --- 36,226 --- Interest rate loan contracts 23 --- --- 23 Financial Liabilities: Deposits $ 1,213,582 $ --- $ 1,110,574 $ 103,191 Accrued interest payable 86 --- 86 --- Forward contracts 65 --- --- 65 December 31, 2019 Carrying Quoted Prices in Active Markets for Identical Assets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Financial Assets: Cash and due from banks $ 10,290 $ 10,290 $ --- $ --- Interest-bearing deposits 76,881 76,881 --- --- Securities 435,263 --- 435,263 --- Restricted securities 1,220 --- 1,220 --- Loans held for sale 905 --- 905 --- Loans, net 726,588 --- --- 718,299 Accrued interest receivable 4,285 --- 4,285 --- Bank-owned life insurance 35,567 --- 35,567 --- Interest rate loan contracts 1 --- --- 1 Financial Liabilities: Deposits $ 1,119,753 $ --- $ 991,725 $ 128,011 Accrued interest payable 144 --- 144 --- Forward contracts 4 --- --- 4 |
Note 8 - Components of Accumula
Note 8 - Components of Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 8 : Components of Accumulated Other Comprehensive Income ( Loss ) The following tables present the components of accumulated other comprehensive income (loss) for the three September 30, 2020 September 30, 2019. Net Unrealized Gain on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Income (Loss) Balance at June 3 0 , 2019 $ 2,457 $ (7,013 ) $ (4,556 ) Unrealized holding gain on available for sale securities, net of tax of $ 146 544 --- 544 Reclassification adjustment, net of tax of ($ 34 (128 ) --- (128 ) Balance at September 30 , 201 9 $ 2,873 $ (7,013 ) $ (4,140 ) Balance at June 3 0 , 2020 $ 9,518 $ (8,582 ) $ 936 Unrealized holding gain on available for sale securities net of tax of $ 601 2,256 --- 2,256 Reclassification adjustment, net of tax of ($ 3 (11 ) --- (11 ) Balance at September 30, 2020 $ 11,763 $ (8,582 ) $ 3,181 The following tables present the components of accumulated other comprehensive income (loss) for the nine September 30, 2020 September 30, 2019. Net Unrealized Gain (Loss) on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Income (Loss) Balance at December 31, 201 8 $ (5,072 ) $ (7,013 ) $ (12,085 ) Unrealized holding gain on available for sale securities, net of tax of $ 2,149 8,089 --- 8,089 Reclassification adjustment, net of tax of ($ 38 (144 ) --- (144 ) Balance at September 30 , 201 9 $ 2,873 $ (7,013 ) $ (4,140 ) Balance at December 31, 201 9 $ 76 $ (8,582 ) $ (8,506 ) Unrealized holding gain on available for sale securities net of tax of $ 3,127 11,763 --- 11,763 Reclassification adjustment, net of tax of ($ 20 (76 ) --- (76 ) Balance at September 3 0 , 2020 $ 11,763 $ (8,582 ) $ 3,181 |
Note 9 - Revenue Recognition
Note 9 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 9: Revenue Recognition The Company recognizes revenue from contracts with customers. Noninterest revenue streams such as service charges on deposit accounts, other service charges and fees, credit and debit card fees, trust income, and annuity and insurance commissions is recognized in accordance with ASC Topic 606. 606 not 606 Service Charges on Deposit Accounts Service charges on deposit accounts consist of monthly service fees, overdraft and nonsufficient funds fees, automated teller machine (“ATM”) fees, wire transfer fees, and other deposit account related fees. The Company’s performance obligation for monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Wire transfer fees, overdraft and nonsufficient funds fees and other deposit account related fees are transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Other Service Charges and Fees Other service charges include safety deposit box rental fees, check ordering charges, and other service charges. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Check ordering charges are transactional based, and therefore the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Credit and Debit Card Fees Credit and debit card fees are primarily comprised of interchange fee income and merchant services income. Interchange fees are earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. Merchant services income mainly represents commission fees based upon merchant processing volume. The Company’s performance obligation for interchange fee income and merchant services income are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. In compliance with Topic 606, Trust Income Trust income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company does not Insurance and Investment Insurance income primarily consists of commissions received on insurance product sales. The Company acts as an intermediary between the Company’s customer and the insurance carrier. The Company’s performance obligation is generally satisfied upon the issuance of the insurance policy. Shortly after the insurance policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. Investment income consists of recurring revenue streams such as commissions from sales of mutual funds and other investments. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees (i.e., trailers) from mutual fund companies typically based on a percentage of net asset value. Trailer revenue is recorded over time, usually monthly or quarterly, as net asset value is determined. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, three nine September 30, 2020 September 30, 2019. Three Months Ended September 30, 2020 2019 Noninterest Income In-scope of Topic 606: Service charges on deposit accounts $ 471 $ 643 Other service charges and fees 37 46 Credit and debit card fees 339 350 Trust income 423 440 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 143 97 Noninterest Income (in-scope of Topic 606) $ 1,413 $ 1,576 Noninterest Income (out-of-scope of Topic 606) 513 522 Total noninterest income $ 1,926 $ 2,098 Nine Months Ended September 30, 2020 2019 Noninterest Income In-scope of Topic 606: Service charges on deposit accounts $ 1,430 $ 1,840 Other service charges and fees 113 149 Credit and debit card fees 1,031 1,015 Trust income 1,244 1,208 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 332 360 Noninterest Income (in-scope of Topic 606) $ 4,150 $ 4,572 Noninterest Income (out-of-scope of Topic 606) 1,656 1,871 Total noninterest income $ 5,806 $ 6,443 |
Note 10 - Leases
Note 10 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 10: The Company’s leases are recorded under ASC Topic 842, 842, not 12 Lease payments Lease payments for short-term leases are recognized as lease expense on a straight-line basis over the lease term, or for variable lease payments, in the period in which the obligation was incurred. Payments for leases with terms longer than 12 may not 842 not Two of the Company’s leases provide known escalators that are included in the determination of the lease liability. One lease has an annual escalator based on the consumer price index-urban (“CPI-U”). The remaining leases do not Options to Extend , Residual Value Guarantees, and Restrictions and Covenants Of the Company’s six three three two five one one five not None none The following tables present information about leases: September 30, 2020 December 31, 2019 Lease liability $ 2,090 $ 2,286 Right-of-use asset $ 2,074 $ 2,277 Weighted average remaining lease term (in years) 7. 0 3 6.90 Weighted average discount rate 3.04 % 3.02 % For the Three Months Ended September 30 , 2020 2019 Lease Expense Operating lease expense $ 92 $ 82 Short-term lease expense 1 29 Total lease expense $ 93 $ 111 Cash paid for amounts included in lease liabilities $ 90 $ 79 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ 23 $ 284 For the Nine Months Ended September 30 , 2020 2019 Lease Expense Operating lease expense $ 277 $ 218 Short-term lease expense 2 101 Total lease expense $ 279 $ 319 Cash paid for amounts included in lease liabilities $ 272 $ 211 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ 23 $ 1,837 The following table presents a maturity schedule of undiscounted cash flows that contribute to the lease liability: Undiscounted Cash Flow for the Period As of September 30 , 2020 Three months ending December 31, 2020 $ 90 Twelve months ending December 31, 2021 363 Twelve months ending December 31, 2022 352 Twelve months ending December 31, 2023 352 Twelve months ending December 31, 2024 334 Twelve months ending December 31, 2025 244 Thereafter 608 Total undiscounted cash flows $ 2,343 Less: discount (253 ) Lease liability $ 2,090 The contracts in which the Company is lessee are with parties external to the company and not |
Note 2 - Loan Portfolio (Tables
Note 2 - Loan Portfolio (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2020 December 31, 2019 Real estate construction $ 36,994 $ 42,303 Consumer real estate 178,546 181,472 Commercial real estate 393,704 365,373 Commercial non real estate 100,906 46,576 Public sector and IDA 59,035 63,764 Consumer non real estate 33,614 34,539 Gross loans 802,799 734,027 Less unearned income and deferred fees and costs (2,145 ) (576 ) Loans, net of unearned income and deferred fees and costs $ 800,654 $ 733,451 |
Note 3 - Allowance for Loan L_2
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Activity in the Allo wance for Loan Losses for the Nine Months Ended September 30, 2020 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Balance, December 31, 2019 $ 400 $ 1,895 $ 2,559 $ 555 $ 478 $ 650 $ 326 $ 6,863 Charge-offs --- (62 ) (15 ) (372 ) --- (190 ) --- (639 ) Recoveries --- 18 53 6 --- 142 --- 219 Provision for (recovery of) loan losses 24 311 1,047 510 53 (5 ) 45 1,985 Balance, September 30, 20 20 $ 424 $ 2,162 $ 3,644 $ 699 $ 531 $ 597 $ 371 $ 8,428 A ctivity in the Allowance for Loan Losses for the Nine Months Ended September 30 , 201 9 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Balance, December 31, 2018 $ 398 $ 2,049 $ 2,798 $ 602 $ 583 $ 750 $ 210 $ 7,390 Charge-offs --- (147 ) (150 ) --- --- (399 ) --- (696 ) Recoveries --- --- 37 --- --- 181 --- 218 Provision for (recovery of) loan losses 56 199 14 (75 ) (93 ) 156 93 350 Balance, September 30, 2019 $ 454 $ 2,101 $ 2,699 $ 527 $ 490 $ 688 $ 303 $ 7,262 A ctivity in the Allowance for Loan Losses for the Year Ended December 31, 201 9 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Balance, December 31, 2018 $ 398 $ 2,049 $ 2,798 $ 602 $ 583 $ 750 $ 210 $ 7,390 Charge-offs --- (192 ) (150 ) (47 ) --- (531 ) --- (920 ) Recoveries --- --- 49 1 --- 217 --- 267 Provision for (recovery of) loan losses 2 38 (138 ) (1 ) (105 ) 214 116 126 Balance, December 31, 2019 $ 400 $ 1,895 $ 2,559 $ 555 $ 478 $ 650 $ 326 $ 6,863 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Allowance for Loan Losses as of September 30 , 20 20 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 2 $ --- $ 102 $ --- $ --- $ --- $ 104 Collectively evaluated for impairment 424 2,160 3,644 597 531 597 371 8,324 Total $ 424 $ 2,162 $ 3,644 $ 699 $ 531 $ 597 $ 371 $ 8,428 Allowance for Loan Losses as of December 31, 201 9 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 2 $ --- $ 108 $ --- $ --- $ --- $ 110 Collectively evaluated for impairment 400 1,893 2,559 447 478 650 326 6,753 Total $ 400 $ 1,895 $ 2,559 $ 555 $ 478 $ 650 $ 326 $ 6,863 Loans as of September 30 , 2020 Real Estate Construction Consumer Commercial Commercial Public Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 244 $ 3,887 $ 861 $ --- $ 3 $ --- $ 4,995 Collectively evaluated for impairment 36,994 178,302 389,817 100,045 59,035 33,611 --- 797,804 Total $ 36,994 $ 178,546 $ 393,704 $ 100,906 $ 59,035 $ 33,614 $ --- $ 802,799 Loans as of December 31, 201 9 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Individually evaluated for impairment $ --- $ 759 $ 3,608 $ 918 $ --- $ 4 $ --- $ 5,289 Collectively evaluated for impairment 42,303 180,713 361,765 45,658 63,764 34,535 --- 728,738 Total $ 42,303 $ 181,472 $ 365,373 $ 46,576 $ 63,764 $ 34,539 $ --- $ 734,027 |
Schedule of Ratios for Allowance for Loan Losses [Table Text Block] | As of and for the Nine Months Ended September 30, Year E nded December 31, 2020 2019 2019 Ratio of allowance for loan losses to the end of period loans, net of unearned income and deferred fees and costs (2) 1.05 % 1.01 % 0.94 % Ratio of net charge-offs to average loans, net of unearned income and deferred fees and costs (1) 0.07 % 0.09 % 0.09 % |
Schedule of Nonperforming Assets [Table Text Block] | September 30, December 31, 2020 2019 2019 Nonperforming assets: Nonaccrual loans $ 736 $ 699 $ 164 Restructured loans in nonaccrual 2,866 3,377 3,211 Total nonperforming loans 3,602 4,076 3,375 Other real estate owned, net 1,553 1,470 1,612 Total nonperforming assets $ 5,155 $ 5,546 $ 4,987 Ratio of nonperforming assets to loans, net of unearned income and deferred fees and costs, plus other real estate owned 0.64 % 0.77 % 0.68 % Ratio of allowance for loan losses to nonperforming loans (1) 233.98 % 178.16 % 203.35 % |
Summary of Past Due 90 Days Loans or More and Impaired Loans [Table Text Block] | As of and For the Nine Months Ended September 30, Year ended 2020 2019 2019 Loans past due 90 days or more and still accruing $ 236 $ 212 $ 231 Ratio of loans past due 90 days or more and still accruing to loans, net of unearned income and deferred fees and costs 0.03 % 0.03 % 0.03 % Accruing restructured loans $ 1,426 $ 1,880 $ 1,729 Impaired loans: Impaired loans with no valuation allowance $ 3,939 $ 5,163 $ 4,174 Impaired loans with a valuation allowance 1,056 1,070 1,115 Total impaired loans $ 4,995 $ 6,233 $ 5,289 Valuation allowance (104 ) (120 ) (110 ) Impaired loans, net of allowance $ 4,891 $ 6,113 $ 5,179 Average recorded investment in impaired loans (1) $ 5,227 $ 6,729 $ 5,359 Interest income recognized on impaired loans, after designation as impaired $ 49 $ 144 $ 171 Amount of income recognized on a cash basis $ --- $ --- $ --- |
Impaired Financing Receivables [Table Text Block] | Impaired Loans as of September 30, 2020 Contractual Total Investment (1) Recorded (1 ) Which There is No Recorded (1) Related Allowance Co nsumer Real Estate (2) Investor-owned residential real estate $ 244 $ 244 $ 49 $ 195 $ 2 Commercial Real Estate (2) Commercial real estate, owner-occupied 893 846 846 --- --- Commercial real estate, other 3,521 3,041 3,041 --- --- Commercial Non Real Estate (2) Commercial and industrial 861 861 --- 861 102 Consumer Non Real Estate (2) Automobile 3 3 3 --- --- Total $ 5,522 $ 4,995 $ 3,939 $ 1,056 $ 104 Impaired Loans as of December 31, 2019 Contractual Total Investment (1) Recorded Investment (1) Recorded Investment (1) Related Co nsumer Real Estate (2) Equity lines $ 100 $ 100 $ 100 $ --- $ --- Residential closed-end first liens 221 221 221 --- --- Investor-owned residential real estate 441 438 241 197 2 Commercial Real Estate (2) Multifamily real estate 278 278 278 --- --- Commercial real estate, owner occupied 929 895 895 --- --- Commercial real estate, other 2,867 2,435 2,435 --- --- Commercial Non-Real Estate (2) Commercial and industrial 917 918 --- 918 108 Consumer Non-Real Estate (2) Automobile 4 4 4 --- --- Total $ 5,757 $ 5,289 $ 4,174 $ 1,115 $ 110 |
Impaired Financing Receivable Average Investment And Interest Income [Table Text Block] | For the Nine Months Ended September 30, 2020 Average Recorded (1) Interest Consumer Real Estate (2) Investor-owned residential real estate $ 245 $ 11 Commercial Real Estate (2) Commercial real estate, owner occupied 858 16 Commercial real estate, other 3,223 5 Commercial Non Real Estate (2) Commercial and industrial 897 17 Consumer Non Real Estate (2) Automobile 4 --- Total $ 5,227 $ 49 For the Nine Months Ended September 30, 2019 Average (1) Interest Co nsumer Real Estate (2) Equity lines $ 97 $ 5 Residential closed-end first liens 990 10 Residential closed-end junior liens 137 6 Investor-owned residential real estate 432 14 Commercial Real Estate (2) Multifamily real estate 463 9 Commercial real estate, owner occupied 1,174 39 Commercial real estate, other 2,451 43 Commercial Non Real Estate (2) Commercial and industrial 976 18 Consumer Non Real Estate (2) Automobile 9 --- Total $ 6,729 $ 144 For the Year Ended December 31, 2019 Average (1) Interest Consumer Real Estate (2) Equity lines $ 98 $ 6 Residential closed-end junior liens 225 11 Investor-owned residential real estate 439 17 Commercial Real Estate (2) Multifamily real estate 284 12 Commercial real estate, owner occupied 913 41 Commercial real estate, other 2,435 59 Commercial Non-Real Estate (2) Commercial and industrial 962 25 Co nsumer Non-Real Estate (2) Automobile 3 --- Total $ 5,359 $ 171 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2020 30 – 89 Days 90 or M ore 90 or More Days Nonaccruals (2) Real Estate Construction (1) Construction, other $ 18 $ --- $ --- $ --- Consumer Real Estate (1) Equity Lines 30 19 19 --- Residential closed-end first liens 526 121 39 82 Investor-owned residential real estate 107 --- --- --- Commercial Real Estate (1) Commercial real estate, owner-occupied 147 582 103 479 Commercial real estate, other --- 654 --- 3,041 Commercial Non Real Estate (1) Commercial and industrial 127 61 61 --- Consumer Non Real Estate (1) Credit cards 5 2 2 --- Automobile 170 --- --- --- Other consumer loans 165 12 12 --- Total $ 1,295 $ 1,451 $ 236 $ 3,602 December 31, 2019 30 – 89 Days 90 or M ore 90 or More Nonaccruals (2) Real Estate Construction (1) Construction, other $ 19 $ --- $ --- $ --- Consumer Real Estate (1) Residential closed-end first liens 499 210 188 22 Residential closed-end junior liens 83 --- --- --- Investor-owned residential real estate --- 264 --- 264 Commercial Real Estate (1) Multifamily real estate 94 --- --- --- Commercial real estate, owner occupied --- 287 --- 514 Commercial real estate, other --- --- --- 2,435 Commercial Non-Real Estate (1) Commercial and industrial 45 153 17 136 Consumer Non-Real Estate (1) Credit cards 4 --- --- --- Automobile 256 14 14 4 Other consumer loans 70 12 12 --- Total $ 1,070 $ 940 $ 231 $ 3,375 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass (1) Special Mention (1) Classified (1) Real Estate Construction Construction, 1-4 family residential $ 7,052 $ --- $ --- Construction, other 29,942 --- --- Consumer Real Estate Equity lines 14,710 --- 19 Closed-end first liens 87,555 67 344 Closed-end junior liens 3,530 --- --- Investor-owned residential real estate 72,077 --- --- Commercial Real Estate Multifamily residential real estate 83,413 269 --- Commercial real estate owner-occupied 152,188 --- 143 Commercial real estate, other 153,804 --- --- Commercial Non Real Estate Commercial and industrial 99,984 --- 61 Public Sector and IDA State and political subdivisions 59,035 --- --- Consumer Non Real Estate Credit cards 4,676 --- --- Automobile 12,620 --- --- Other consumer 16,309 --- 6 Total $ 796,895 $ 336 $ 573 Pass (1) Special Mention (1) Classified (1) Real Estate Construction Construction, 1-4 family residential $ 7,590 $ --- $ --- Construction, other 34,713 --- --- Consumer Real Estate Equity lines 16,435 --- --- Residential closed-end first liens 94,814 --- 517 Residential closed-end junior liens 3,861 --- --- Investor-owned residential real estate 65,063 --- 23 Commercial Real Estate Multifamily residential real estate 87,934 --- 94 Commercial real estate owner-occupied 127,937 --- 164 Commercial real estate, other 145,636 --- --- Commercial Non-Real Estate Commercial and industrial 45,387 135 136 Public Sector and IDA State and political subdivisions 63,764 --- --- Consumer Non-Real Estate Credit cards 5,703 --- --- Automobile 14,810 --- 19 Other consumer 13,995 --- 8 Total $ 727,642 $ 135 $ 961 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Number of Contracts Pre-Modification Outstanding Principal Balance Post-Modification Outstanding Principal Balance Residential Real Estate Equity lines 1 $ 98 $ 98 Total 1 $ 98 $ 98 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | September 30, 2020 Amortized Costs Gross Unrealized Gains Gross Unrealized Losses Fair Values Available for Sale: U.S. Government agencies and corporations $ 57,906 $ 4,712 $ 25 $ 62,593 State and political subdivisions 157,528 5,936 350 163,114 Mortgage-backed securities 254,025 4,363 64 258,324 Corporate debt securities 3,001 319 --- 3,320 Total securities available for sale $ 472,460 $ 15,330 $ 439 $ 487,351 December 31, 2019 Amortized Costs Gross Unrealized Gains Gross Unrealized Losses Fair Values Available for S ale: U.S. Government agencies and corporations $ 119,903 $ 1,995 $ 775 $ 121,123 State and political subdivisions 88,092 791 644 88,239 Mortgage-backed securities 223,173 45 1,435 221,783 Corporate debt securities 3,998 120 --- 4,118 Total securities available for sale $ 435,166 $ 2,951 $ 2,854 $ 435,263 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30 , 2020 Amortized Cost Fair Value Available for S ale: Due in one year or less $ 8,732 $ 8,806 Due after one year through five years 4,837 5,010 Due after five years through ten years 130,312 135,038 Due after ten years 328,579 338,497 Total securities available for sale $ 472,460 $ 487,351 |
Schedule of Temporary Impairment Losses, Investments [Table Text Block] | September 30, 2020 Less Than 12 Months 12 Months or More Fair Unrealized Fair Unrealized Temporarily Impaired Securities: U.S. Government agencies and corporations $ 4,972 $ 25 $ --- $ --- State and political subdivisions 26,545 338 626 12 Mortgage-backed securities 17,760 60 5,011 4 Total $ 49,277 $ 423 $ 5,637 $ 16 December 31, 2019 Less Than 12 Months 12 Months or More Fair Unrealized Fair Unrealized Temporarily I mpaired S ecurities: U.S. Government agencies and corporations $ 53,244 $ 738 $ 38,962 $ 37 State and political subdivisions 35,934 596 591 48 Mortgage-backed securities 181,279 1,435 --- --- Total $ 270,457 $ 2,769 $ 39,553 $ 85 |
Note 6 - Defined Benefit Plan (
Note 6 - Defined Benefit Plan (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Three Months Ended September 30, 2020 2019 Service cost $ 270 $ 200 Interest cost 205 221 Expected return on plan assets (420 ) (365 ) Amortization of prior service cost (27 ) (27 ) Recognized net actuarial loss 177 158 Net periodic benefit cost $ 205 $ 187 Nine Months Ended September 30, 2020 2019 Service cost $ 810 $ 600 Interest cost 615 663 Expected return on plan assets (1,260 ) (1,095 ) Amortization of prior service cost (81 ) (81 ) Recognized net actuarial loss 531 474 Net periodic benefit cost $ 615 $ 561 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2020 Using Description Balance as of Quoted Prices Significant Significant U.S. Government agencies and corporations $ 62,593 $ --- $ 62,593 $ --- State and political subdivisions 163,114 --- 163,114 --- Mortgage-backed securities 258,324 --- 258,324 --- Corporate debt securities 3,320 --- 3,320 --- Total securities available for sale $ 487,351 $ --- $ 487,351 $ --- Fair Value Measurements at December 31, 2019 Using Description Balance as of Quoted Prices Significant Significant U.S. Government agencies and corporations $ 121,123 $ --- $ 121,123 $ --- State and political subdivisions 88,239 --- 88,239 --- Mortgage-backed securities 221,783 --- 221,783 --- Corporate debt securities 4,118 --- 4,118 --- Total securities available for sale $ 435,263 $ --- $ 435,263 $ --- |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements at September 30, 2020 Using Description Balance as of Quoted Prices Significant Significant Interest rate loan contracts $ 23 $ --- $ --- $ 23 Forward contracts $ (65 ) $ --- $ --- $ (65 ) Fair Value Measurements at December 31, 2019 Using Description Balance as of Quoted Prices Significant Significant Interest rate loan contracts $ 1 $ --- $ --- $ 1 Forward contracts $ (4 ) $ --- $ --- $ (4 ) |
Schedule of Derivative Instruments [Table Text Block] | September 30, 2020 Valuation Technique Unobservable Input Range (Weighted Average) Interest rate loan contracts Market approach Pull-through rate 85.82% - 100.00% (92.39%) Forward contracts Market approach Pull-through rate 85.82% - 100.00% (92.39%) Interest rate loan contracts Market approach Current reference price 101.46% - 104.36% (102.47%) (1) Forward contracts Market approach Current reference price 101.46% - 104.36% (102.60%) (1) December 31, 2019 Valuation Technique Unobservable Input Range (Weighted Average) Interest rate loan contracts Market approach Pull-through rate 90.00% (1) Forward contracts Market approach Pull-through rate 65.60% (1) Interest rate loan contracts Market approach Current reference price 101.49% - 102.06% (101.72%) (2) Forward contracts Market approach Current reference price 101.49% - 103.28% (101.91%) (2) |
Fair Value Measurements, Nonrecurring [Table Text Block] | Carrying Value Date Description Balance Quoted Prices Significant Significant Assets: September 30, 2020 Impaired loans net of valuation allowance $ 952 $ --- $ --- $ 952 December 31, 2019 Impaired loans net of valuation allowance 1,005 --- --- 1,005 Carrying Value Date Description Balance Quoted Prices Significant Significant Assets: September 30, 2020 Other real estate owned net of valuation allowance $ 1,553 $ --- $ --- $ 1,553 December 31, 2019 Other real estate owned net of valuation allowance 1,612 --- --- 1,612 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Impaired Loans Valuation Technique Unobservable Input Range (Weighted Average (1) September 30, 2020 Present value of cash flows Discount rate 5.50% – 6.50% (5.78%) December 31, 2019 Present value of cash flows Discount rate 5.50% – 6.50% (5.77%) September 30, 2020 Valuation Technique Unobservable Input Range (Weighted Average (1) Other real estate owned Discounted appraised value Selling cost 0.00% (2) – 5.54% (0.46%) Other real estate owned Discounted appraised value Discount for lack of marketability and age of appraisal 0.00% – 11.35% (0.95%) December 31, 2019 Valuation Technique Unobservable Input Range (Weighted Average (1) Other real estate owned Discounted appraised value Selling cost 0.00% (2) – 6.00% (0.68%) Other real estate owned Discounted appraised value Discount for lack of marketability and age of appraisal 0.00% – 45.17% (1.28%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30 , 2020 Carrying Quoted Prices in Active Markets for Identical Assets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Financial Assets: Cash and due from banks $ 10,593 $ 10,593 $ --- $ --- Interest-bearing deposits 68,779 68,779 --- --- Securities 487,351 --- 487,351 --- Restricted securities 1,279 --- 1,279 --- Loans held for sale 3,690 --- 3,690 --- Loans, net 792,226 --- --- 783,201 Accrued interest receivable 5,238 --- 5,238 --- Bank-owned life insurance 36,226 --- 36,226 --- Interest rate loan contracts 23 --- --- 23 Financial Liabilities: Deposits $ 1,213,582 $ --- $ 1,110,574 $ 103,191 Accrued interest payable 86 --- 86 --- Forward contracts 65 --- --- 65 December 31, 2019 Carrying Quoted Prices in Active Markets for Identical Assets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Financial Assets: Cash and due from banks $ 10,290 $ 10,290 $ --- $ --- Interest-bearing deposits 76,881 76,881 --- --- Securities 435,263 --- 435,263 --- Restricted securities 1,220 --- 1,220 --- Loans held for sale 905 --- 905 --- Loans, net 726,588 --- --- 718,299 Accrued interest receivable 4,285 --- 4,285 --- Bank-owned life insurance 35,567 --- 35,567 --- Interest rate loan contracts 1 --- --- 1 Financial Liabilities: Deposits $ 1,119,753 $ --- $ 991,725 $ 128,011 Accrued interest payable 144 --- 144 --- Forward contracts 4 --- --- 4 |
Note 8 - Components of Accumu_2
Note 8 - Components of Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net Unrealized Gain on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Income (Loss) Balance at June 3 0 , 2019 $ 2,457 $ (7,013 ) $ (4,556 ) Unrealized holding gain on available for sale securities, net of tax of $ 146 544 --- 544 Reclassification adjustment, net of tax of ($ 34 (128 ) --- (128 ) Balance at September 30 , 201 9 $ 2,873 $ (7,013 ) $ (4,140 ) Balance at June 3 0 , 2020 $ 9,518 $ (8,582 ) $ 936 Unrealized holding gain on available for sale securities net of tax of $ 601 2,256 --- 2,256 Reclassification adjustment, net of tax of ($ 3 (11 ) --- (11 ) Balance at September 30, 2020 $ 11,763 $ (8,582 ) $ 3,181 Net Unrealized Gain (Loss) on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Income (Loss) Balance at December 31, 201 8 $ (5,072 ) $ (7,013 ) $ (12,085 ) Unrealized holding gain on available for sale securities, net of tax of $ 2,149 8,089 --- 8,089 Reclassification adjustment, net of tax of ($ 38 (144 ) --- (144 ) Balance at September 30 , 201 9 $ 2,873 $ (7,013 ) $ (4,140 ) Balance at December 31, 201 9 $ 76 $ (8,582 ) $ (8,506 ) Unrealized holding gain on available for sale securities net of tax of $ 3,127 11,763 --- 11,763 Reclassification adjustment, net of tax of ($ 20 (76 ) --- (76 ) Balance at September 3 0 , 2020 $ 11,763 $ (8,582 ) $ 3,181 |
Note 9 - Revenue Recognition (T
Note 9 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2020 2019 Noninterest Income In-scope of Topic 606: Service charges on deposit accounts $ 471 $ 643 Other service charges and fees 37 46 Credit and debit card fees 339 350 Trust income 423 440 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 143 97 Noninterest Income (in-scope of Topic 606) $ 1,413 $ 1,576 Noninterest Income (out-of-scope of Topic 606) 513 522 Total noninterest income $ 1,926 $ 2,098 Nine Months Ended September 30, 2020 2019 Noninterest Income In-scope of Topic 606: Service charges on deposit accounts $ 1,430 $ 1,840 Other service charges and fees 113 149 Credit and debit card fees 1,031 1,015 Trust income 1,244 1,208 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 332 360 Noninterest Income (in-scope of Topic 606) $ 4,150 $ 4,572 Noninterest Income (out-of-scope of Topic 606) 1,656 1,871 Total noninterest income $ 5,806 $ 6,443 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | September 30, 2020 December 31, 2019 Lease liability $ 2,090 $ 2,286 Right-of-use asset $ 2,074 $ 2,277 Weighted average remaining lease term (in years) 7. 0 3 6.90 Weighted average discount rate 3.04 % 3.02 % For the Three Months Ended September 30 , 2020 2019 Lease Expense Operating lease expense $ 92 $ 82 Short-term lease expense 1 29 Total lease expense $ 93 $ 111 Cash paid for amounts included in lease liabilities $ 90 $ 79 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ 23 $ 284 For the Nine Months Ended September 30 , 2020 2019 Lease Expense Operating lease expense $ 277 $ 218 Short-term lease expense 2 101 Total lease expense $ 279 $ 319 Cash paid for amounts included in lease liabilities $ 272 $ 211 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ 23 $ 1,837 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Undiscounted Cash Flow for the Period As of September 30 , 2020 Three months ending December 31, 2020 $ 90 Twelve months ending December 31, 2021 363 Twelve months ending December 31, 2022 352 Twelve months ending December 31, 2023 352 Twelve months ending December 31, 2024 334 Twelve months ending December 31, 2025 244 Thereafter 608 Total undiscounted cash flows $ 2,343 Less: discount (253 ) Lease liability $ 2,090 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of Loan Modifications for COVID-19 Related Accommodations | 361 | |
Principal Balance of Loans with COVID-19 Related Accommodations | $ 160,230 | |
Loans and Leases Receivable, Net Amount, Total | 792,226 | $ 726,588 |
SBA CARES Act Paycheck Protection Program [Member] | ||
Loans and Leases Receivable, Net Amount, Total | $ 56,260 |
Note 2 - Loan Portfolio - Loan
Note 2 - Loan Portfolio - Loan Portfolio, Excluding Loans Held for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Gross loans | $ 802,799 | $ 734,027 |
Less unearned income and deferred fees and costs | (2,145) | (576) |
Loans, net of unearned income and deferred fees and costs | 800,654 | 733,451 |
Real Estate Construction Portfolio Segment[Member] | ||
Gross loans | 36,994 | 42,303 |
Consumer Real Estate Portfolio Segment [Member] | ||
Gross loans | 178,546 | 181,472 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 393,704 | 365,373 |
Commercial Non Real Estate Segment [Member] | ||
Gross loans | 100,906 | 46,576 |
Public Sector and IDA Portfolio Segment[Member] | ||
Gross loans | 59,035 | 63,764 |
Consumer Non Real Estate Portfolio Segment [Member] | ||
Gross loans | $ 33,614 | $ 34,539 |
Note 3 - Allowance for Loan L_3
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Ratio of Allowance for Loan Losses to End of Period Loans, Excluding PPP Loans | 1.13% | ||||
Interest and Fee Income, Loans and Leases, Total | $ 8,606 | $ 8,548 | $ 25,491 | $ 25,277 | |
Threshold Period for Considering Loans as Special Mention or Classified (Day) | 75 days | ||||
Financing Receivable, Troubled Debt Restructuring | $ 4,292 | $ 5,257 | $ 4,292 | $ 5,257 | $ 4,940 |
Financing Receivable, Modifications, Number of Contracts | 0 | 1 | 0 | 1 | |
Number of Loan Modifications for COVID-19 Related Accommodations | 361 | 361 | |||
Principal Balance of Loans with COVID-19 Related Accommodations | $ 160,230 | $ 160,230 | |||
Consumer Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | $ 263 | $ 263 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 7 | ||||
Special Mention [Member] | |||||
Increase in Percentage of Allocation Loans Rated Special Mention | 50.00% | ||||
Classified Excluding Impaired [Member] | |||||
Increase in Percentage of Allocation Loans Rated Classified | 100.00% | ||||
Nonperforming Financial Instruments [Member] | |||||
Interest and Fee Income, Loans and Leases, Total | $ 0 | $ 0 | $ 0 |
Note 3 - Allowance for Loan L_4
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Balance | $ 6,863 | $ 7,390 | $ 7,390 | ||
Charge-offs | (639) | (696) | (920) | ||
Recoveries | 219 | 218 | 267 | ||
Provision for loan losses | $ 154 | $ 95 | 1,985 | 350 | 126 |
Balance | 8,428 | 7,262 | 8,428 | 7,262 | 6,863 |
Real Estate Construction Portfolio Segment[Member] | |||||
Balance | 400 | 398 | 398 | ||
Provision for loan losses | 24 | 56 | 2 | ||
Balance | 424 | 454 | 424 | 454 | 400 |
Consumer Real Estate Portfolio Segment [Member] | |||||
Balance | 1,895 | 2,049 | 2,049 | ||
Charge-offs | (62) | (147) | (192) | ||
Recoveries | 18 | ||||
Provision for loan losses | 311 | 199 | 38 | ||
Balance | 2,162 | 2,101 | 2,162 | 2,101 | 1,895 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 2,559 | 2,798 | 2,798 | ||
Charge-offs | (15) | (150) | (150) | ||
Recoveries | 53 | 37 | 49 | ||
Provision for loan losses | 1,047 | 14 | (138) | ||
Balance | 3,644 | 2,699 | 3,644 | 2,699 | 2,559 |
Commercial Non Real Estate Segment [Member] | |||||
Balance | 555 | 602 | 602 | ||
Charge-offs | (372) | (47) | |||
Recoveries | 6 | 1 | |||
Provision for loan losses | 510 | (75) | (1) | ||
Balance | 699 | 527 | 699 | 527 | 555 |
Public Sector and IDA Portfolio Segment[Member] | |||||
Balance | 478 | 583 | 583 | ||
Provision for loan losses | 53 | (93) | (105) | ||
Balance | 531 | 490 | 531 | 490 | 478 |
Consumer Non Real Estate Portfolio Segment [Member] | |||||
Balance | 650 | 750 | 750 | ||
Charge-offs | (190) | (399) | (531) | ||
Recoveries | 142 | 181 | 217 | ||
Provision for loan losses | (5) | 156 | 214 | ||
Balance | 597 | 688 | 597 | 688 | 650 |
Unallocated Financing Receivables [Member] | |||||
Balance | 326 | 210 | 210 | ||
Provision for loan losses | 45 | 93 | 116 | ||
Balance | $ 371 | $ 303 | $ 371 | $ 303 | $ 326 |
Note 3 - Allowance for Loan L_5
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Loans and Allowance for Loan Losses by Evaluation Method (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Allowance for loan losses, individually evaluated for impairment | $ 104 | $ 110 | ||
Allowance for loan losses, collectively evaluated for impairment | 8,324 | 6,753 | ||
Allowance for loan losses | 8,428 | 6,863 | $ 7,262 | $ 7,390 |
Loans, individually evaluated for impairment | 4,995 | 5,289 | ||
Non-impaired gross loans | 797,804 | 728,738 | ||
Loans | 802,799 | 734,027 | ||
Consumer Real Estate Portfolio Segment [Member] | ||||
Allowance for loan losses, individually evaluated for impairment | 2 | 2 | ||
Allowance for loan losses, collectively evaluated for impairment | 2,160 | 1,893 | ||
Allowance for loan losses | 2,162 | 1,895 | 2,101 | 2,049 |
Loans, individually evaluated for impairment | 244 | 759 | ||
Non-impaired gross loans | 178,302 | 180,713 | ||
Loans | 178,546 | 181,472 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Allowance for loan losses, collectively evaluated for impairment | 3,644 | 2,559 | ||
Allowance for loan losses | 3,644 | 2,559 | 2,699 | 2,798 |
Loans, individually evaluated for impairment | 3,887 | 3,608 | ||
Non-impaired gross loans | 389,817 | 361,765 | ||
Loans | 393,704 | 365,373 | ||
Commercial Non Real Estate Segment [Member] | ||||
Allowance for loan losses, individually evaluated for impairment | 102 | 108 | ||
Allowance for loan losses, collectively evaluated for impairment | 597 | 447 | ||
Allowance for loan losses | 699 | 555 | 527 | 602 |
Loans, individually evaluated for impairment | 861 | 918 | ||
Non-impaired gross loans | 100,045 | 45,658 | ||
Loans | 100,906 | 46,576 | ||
Consumer Non Real Estate Portfolio Segment [Member] | ||||
Allowance for loan losses, collectively evaluated for impairment | 597 | 650 | ||
Allowance for loan losses | 597 | 650 | 688 | 750 |
Loans, individually evaluated for impairment | 3 | 4 | ||
Non-impaired gross loans | 33,611 | 34,535 | ||
Loans | 33,614 | 34,539 | ||
Real Estate Construction Portfolio Segment[Member] | ||||
Allowance for loan losses, collectively evaluated for impairment | 424 | 400 | ||
Allowance for loan losses | 424 | 400 | 454 | 398 |
Non-impaired gross loans | 36,994 | 42,303 | ||
Loans | 36,994 | 42,303 | ||
Public Sector and IDA Portfolio Segment[Member] | ||||
Allowance for loan losses, collectively evaluated for impairment | 531 | 478 | ||
Allowance for loan losses | 531 | 478 | 490 | 583 |
Non-impaired gross loans | 59,035 | 63,764 | ||
Loans | 59,035 | 63,764 | ||
Unallocated Financing Receivables [Member] | ||||
Allowance for loan losses, collectively evaluated for impairment | 371 | 326 | ||
Allowance for loan losses | $ 371 | $ 326 | $ 303 | $ 210 |
Note 3 - Allowance for Loan L_6
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Ratios of Allowance for Loan Losses (Details) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||
Ratio of allowance for loan losses to the end of period loans, net of unearned income and deferred fees and costs(2) | [1] | 1.05% | 1.01% | 0.94% |
Ratio of net charge-offs to average loans, net of unearned income and deferred fees and costs(1) | [2] | 0.07% | 0.09% | 0.09% |
[1] | The ratio of the allowance for loan losses to the end of period loans, net of unearned income and deferred fees and costs at September 30, 2020 includes government-guaranteed SBA PPP loans, which do not require an allowance for loan losses. Excluding the PPP loans, the ratio would be 1.13%. | |||
[2] | Net charge-offs are on an annualized basis. |
Note 3 - Allowance for Loan L_7
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Nonperforming Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | |||
Nonaccrual loans | $ 736 | $ 164 | $ 699 | |||
Restructured loans in nonaccrual | 2,866 | 3,211 | 3,377 | |||
Total nonperforming loans | 3,602 | [1],[2] | 3,375 | [1],[2] | 4,076 | |
Other real estate owned, net | 1,553 | 1,612 | 1,470 | |||
Total nonperforming assets | $ 5,155 | $ 4,987 | $ 5,546 | |||
Ratio of nonperforming assets to loans, net of unearned income and deferred fees and costs, plus other real estate owned | 0.64% | 0.68% | 0.77% | |||
Ratio of allowance for loan losses to nonperforming loans(1) | [3] | 233.98% | 203.35% | 178.16% | ||
[1] | Includes current and past due loans in nonaccrual status. Includes impaired loans in nonaccrual status. | |||||
[2] | Only classes with past-due or nonaccrual loans are shown. | |||||
[3] | The Company defines nonperforming loans as nonaccrual loans and restructured loans that are nonaccrual. Nonperforming loans do not include loans 90 days past due and still accruing or accruing restructured loans. |
Note 3 - Allowance for Loan L_8
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Loans Past Due 90 Days or More and Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||||
Loans past due 90 days or more and still accruing | $ 236 | [1] | $ 212 | $ 231 | [1] | |
Ratio of loans past due 90 days or more and still accruing to loans, net of unearned income and deferred fees and costs | 0.03% | 0.03% | 0.03% | |||
Accruing restructured loans | $ 1,426 | $ 1,880 | $ 1,729 | |||
Impaired loans: | ||||||
Impaired loans with no valuation allowance | 3,939 | [2] | 5,163 | 4,174 | [2] | |
Impaired loans with a valuation allowance | 1,056 | [2] | 1,070 | 1,115 | [2] | |
Total impaired loans | 4,995 | [2] | 6,233 | 5,289 | [2] | |
Valuation allowance | (104) | (120) | (110) | |||
Impaired loans, net of allowance | 4,891 | 6,113 | 5,179 | |||
Average recorded investment in impaired loans(1) | [2] | 5,227 | 6,729 | 5,359 | [3] | |
Interest income recognized on impaired loans, after designation as impaired | $ 49 | $ 144 | $ 171 | |||
[1] | Only classes with past-due or nonaccrual loans are shown. | |||||
[2] | Only classes with impaired loans are shown. | |||||
[3] | Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. |
Note 3 - Allowance for Loan L_9
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Impaired Loans and Associated Reserves (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | |||
Principal balance | $ 5,522 | $ 5,757 | ||||
Total recorded investment | 4,995 | [1] | 5,289 | [1] | $ 6,233 | |
Recorded investment for which there is no related allowance | 3,939 | [1] | 4,174 | [1] | 5,163 | |
Recorded investment for which there is a related allowance | 1,056 | [1] | 1,115 | [1] | 1,070 | |
Related allowance | 104 | 110 | $ 120 | |||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | ||||||
Principal balance | [1] | 244 | 441 | |||
Total recorded investment | [1] | 244 | [2] | 438 | ||
Recorded investment for which there is no related allowance | [1] | 49 | [2] | 241 | ||
Recorded investment for which there is a related allowance | [1] | 195 | [2] | 197 | ||
Related allowance | [1] | 2 | 2 | |||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | ||||||
Principal balance | 100 | |||||
Total recorded investment | 100 | |||||
Recorded investment for which there is no related allowance | 100 | |||||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | ||||||
Principal balance | [1] | 221 | ||||
Total recorded investment | [1] | 221 | ||||
Recorded investment for which there is no related allowance | [1] | 221 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | ||||||
Principal balance | [1] | 893 | 929 | |||
Total recorded investment | [1] | 846 | [2] | 895 | ||
Recorded investment for which there is no related allowance | [1] | 846 | [2] | 895 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||||||
Principal balance | [1] | 3,521 | 2,867 | |||
Total recorded investment | [1] | 3,041 | [2] | 2,435 | ||
Recorded investment for which there is no related allowance | [1] | 3,041 | [2] | 2,435 | ||
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | ||||||
Principal balance | [1] | 278 | ||||
Total recorded investment | [1] | 278 | ||||
Recorded investment for which there is no related allowance | [1] | 278 | ||||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | ||||||
Principal balance | [1] | 861 | 917 | |||
Total recorded investment | [1] | 861 | [2] | 918 | ||
Recorded investment for which there is a related allowance | [1] | 861 | [2] | 918 | ||
Related allowance | [1] | 102 | 108 | |||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | ||||||
Principal balance | [1] | 3 | 4 | |||
Total recorded investment | [1] | 3 | [2] | 4 | ||
Recorded investment for which there is no related allowance | [1] | $ 3 | [2] | $ 4 | ||
[1] | Only classes with impaired loans are shown. | |||||
[2] | Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. |
Note 3 - Allowance for Loan _10
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Impaired Loans, Average Investment and Interest Income (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||||
Average recorded investment in impaired loans(1) | [1] | $ 5,227 | $ 6,729 | $ 5,359 | [2] | |
Interest income recognized on impaired loans, after designation as impaired | 49 | 144 | 171 | |||
Investor Owned Residential Real Estate [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 245 | 432 | 439 | [2] | |
Interest income recognized on impaired loans, after designation as impaired | [1] | 11 | 14 | 17 | ||
Equity Lines [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | 97 | [1] | 98 | |||
Interest income recognized on impaired loans, after designation as impaired | 5 | [1] | 6 | |||
Closed End First Liens [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 990 | ||||
Interest income recognized on impaired loans, after designation as impaired | [1] | 10 | ||||
Closed End Junior Liens [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 137 | ||||
Interest income recognized on impaired loans, after designation as impaired | [1] | 6 | ||||
Closed End Junior Liens [Member] | Consumer Real Estate Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Average recorded investment in impaired loans(1) | [3] | 225 | ||||
Closed End Junior Liens [Member] | Consumer Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Average recorded investment in impaired loans(1) | [3] | 11 | ||||
Commercial Real Estate, Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 858 | 1,174 | 913 | [2] | |
Interest income recognized on impaired loans, after designation as impaired | [1] | 16 | 39 | 41 | ||
Commercial Real Estate Other [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 3,223 | 2,451 | 2,435 | [2] | |
Interest income recognized on impaired loans, after designation as impaired | [1] | 59 | ||||
Multifamily Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 463 | 284 | [2] | ||
Interest income recognized on impaired loans, after designation as impaired | [1] | 9 | 12 | |||
Commercial and Industrial [Member] | Commercial Non Real Estate Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | 897 | 976 | 962 | [2] | |
Interest income recognized on impaired loans, after designation as impaired | [1] | 17 | 18 | 25 | ||
Automobile Loan [Member] | Consumer Non Real Estate Portfolio Segment [Member] | ||||||
Average recorded investment in impaired loans(1) | [1] | $ 4 | $ 9 | $ 3 | [2] | |
[1] | Only classes with impaired loans are shown. | |||||
[2] | Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. | |||||
[3] | Only classes with past-due or nonaccrual loans are shown. |
Note 3 - Allowance for Loan _11
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Past Due and Nonaccrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | |||
Loans past due 90 days or more and still accruing | $ 236 | [1] | $ 231 | [1] | $ 212 | |
Nonaccruals | 3,602 | [1],[2] | 3,375 | [1],[2] | $ 4,076 | |
Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 1,295 | 1,070 | |||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 1,451 | 940 | |||
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 19 | ||||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | ||||||
Loans past due 90 days or more and still accruing | [1] | 19 | ||||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 30 | ||||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 19 | ||||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | ||||||
Loans past due 90 days or more and still accruing | [1] | 39 | 188 | |||
Nonaccruals | [1],[2] | 82 | 22 | |||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 526 | 499 | |||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 121 | 210 | |||
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 83 | ||||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | ||||||
Nonaccruals | [1],[2] | 264 | ||||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 107 | ||||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 264 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | ||||||
Nonaccruals | [1],[2] | 479 | 514 | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 147 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 582 | 287 | |||
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 94 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||||||
Nonaccruals | [1],[2] | 3,041 | 2,435 | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 654 | ||||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | ||||||
Loans past due 90 days or more and still accruing | [1] | 61 | 17 | |||
Nonaccruals | [1],[2] | 136 | ||||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 127 | 45 | |||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 153 | ||||
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 5 | 4 | |||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | ||||||
Loans past due 90 days or more and still accruing | [1] | 14 | ||||
Nonaccruals | [1],[2] | 4 | ||||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 170 | 256 | |||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 14 | ||||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | ||||||
Loans past due 90 days or more and still accruing | [1] | 12 | 12 | |||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | 165 | 70 | |||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||
Loans past due and accruing | [1] | $ 12 | $ 12 | |||
[1] | Only classes with past-due or nonaccrual loans are shown. | |||||
[2] | Includes current and past due loans in nonaccrual status. Includes impaired loans in nonaccrual status. |
Note 3 - Allowance for Loan _12
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Non-impaired gross loans | $ 797,804 | $ 728,738 | |
Real Estate Construction Portfolio Segment[Member] | |||
Non-impaired gross loans | 36,994 | 42,303 | |
Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 178,302 | 180,713 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 389,817 | 361,765 | |
Commercial Non Real Estate Segment [Member] | |||
Non-impaired gross loans | 100,045 | 45,658 | |
Consumer Non Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 33,611 | 34,535 | |
Pass [Member] | |||
Non-impaired gross loans | [1] | 796,895 | 727,642 |
Pass [Member] | States Political Subdivisions [Member] | |||
Non-impaired gross loans | [1] | 59,035 | 63,764 |
Classified Excluding Impaired [Member] | |||
Non-impaired gross loans | [1] | 573 | 961 |
Special Mention [Member] | |||
Non-impaired gross loans | [1] | 336 | 135 |
Construction, 1-4 Family Residential [Member] | Pass [Member] | Real Estate Construction Portfolio Segment[Member] | |||
Non-impaired gross loans | [1] | 7,052 | 7,590 |
Construction, Other [Member] | Pass [Member] | Real Estate Construction Portfolio Segment[Member] | |||
Non-impaired gross loans | [1] | 29,942 | 34,713 |
Equity Lines [Member] | Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 14,710 | 16,435 |
Equity Lines [Member] | Classified Excluding Impaired [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 19 | |
Closed End First Liens [Member] | Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 87,555 | 94,814 | |
Closed End First Liens [Member] | Classified Excluding Impaired [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 344 | 517 | |
Closed End First Liens [Member] | Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 67 | ||
Closed End Junior Liens [Member] | Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | 3,530 | 3,861 | |
Investor Owned Residential Real Estate [Member] | Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 72,077 | 65,063 |
Investor Owned Residential Real Estate [Member] | Classified Excluding Impaired [Member] | Consumer Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 23 | |
Multifamily Real Estate [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 83,413 | 87,934 |
Multifamily Real Estate [Member] | Classified Excluding Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 94 | |
Multifamily Real Estate [Member] | Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 269 | |
Commercial Real Estate, Owner Occupied [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 152,188 | 127,937 |
Commercial Real Estate, Owner Occupied [Member] | Classified Excluding Impaired [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 143 | 164 |
Commercial Real Estate Other [Member] | Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 153,804 | 145,636 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Non Real Estate Segment [Member] | |||
Non-impaired gross loans | [1] | 99,984 | 45,387 |
Commercial and Industrial [Member] | Classified Excluding Impaired [Member] | Commercial Non Real Estate Segment [Member] | |||
Non-impaired gross loans | [1] | 61 | 136 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Non Real Estate Segment [Member] | |||
Non-impaired gross loans | [1] | 135 | |
Credit Card Receivable [Member] | Pass [Member] | Consumer Non Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 4,676 | 5,703 |
Automobile Loan [Member] | Pass [Member] | Consumer Non Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 12,620 | 14,810 |
Automobile Loan [Member] | Classified Excluding Impaired [Member] | Consumer Non Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 19 | |
Other Consumer Loans [Member] | Pass [Member] | Consumer Non Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | 16,309 | 13,995 |
Other Consumer Loans [Member] | Classified Excluding Impaired [Member] | Consumer Non Real Estate Portfolio Segment [Member] | |||
Non-impaired gross loans | [1] | $ 6 | $ 8 |
[1] | Excludes impaired, if any. |
Note 3 - Allowance for Loan _13
Note 3 - Allowance for Loan Losses, Nonperforming Assets and Impaired Loans - Restructurings By Class (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019USD ($) | |
Number of contracts | 0 | 1 | 0 | 1 |
Pre-modification outstanding principal balance | $ 98 | |||
Post-modification outstanding principal balance | $ 98 | |||
Residential Portfolio Segment [Member] | Equity Lines [Member] | ||||
Number of contracts | 1 | |||
Pre-modification outstanding principal balance | $ 98 | |||
Post-modification outstanding principal balance | $ 98 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ in Thousands | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of Temporarily Impaired Securities | 37 | |
Available-for-sale and Held to Maturity Securities Continuous Unrealized Loss Position Fair Value | $ 54,914 | |
Continuous Unrealized Loss Position Aggregate Losses | $ 439 | |
Number of Temporarily Impaired Securities Greater than Twelve Months | 2 | |
Continuous Unrealized Loss Position Twelve Months or Longer Fair Value | $ 5,637 | $ 39,553 |
Continuous Unrealized Loss Position 12 Months or Longer Aggregate Losses | 16 | 85 |
National Bank of Blacksburg [Member] | Federal Home Loan Bank of Atlanta [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 562,220 | |
Restricted Stock [Member] | ||
Restricted Investments | $ 1,279 | 1,220 |
US States and Political Subdivisions Debt Securities [Member] | ||
Number of Temporarily Impaired Securities | 1 | |
Available-for-sale and Held to Maturity Securities Continuous Unrealized Loss Position Fair Value | $ 626 | |
Continuous Unrealized Loss Position Aggregate Losses | 12 | |
Continuous Unrealized Loss Position Twelve Months or Longer Fair Value | 626 | 591 |
Continuous Unrealized Loss Position 12 Months or Longer Aggregate Losses | $ 12 | $ 48 |
Collateralized Mortgage Backed Securities [Member] | ||
Number of Temporarily Impaired Securities | 1 | |
Available-for-sale and Held to Maturity Securities Continuous Unrealized Loss Position Fair Value | $ 5,011 | |
Continuous Unrealized Loss Position Aggregate Losses | $ 4 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities available-for-sale, amortized costs | $ 472,460 | $ 435,166 |
Securities available-for-sale, gross unrealized gains | 15,330 | 2,951 |
Securities available-for-sale, gross unrealized losses | 439 | 2,854 |
Securities available-for-sale, fair values | 487,351 | 435,263 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized costs | 57,906 | 119,903 |
Securities available-for-sale, gross unrealized gains | 4,712 | 1,995 |
Securities available-for-sale, gross unrealized losses | 25 | 775 |
Securities available-for-sale, fair values | 62,593 | 121,123 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized costs | 157,528 | 88,092 |
Securities available-for-sale, gross unrealized gains | 5,936 | 791 |
Securities available-for-sale, gross unrealized losses | 350 | 644 |
Securities available-for-sale, fair values | 163,114 | 88,239 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale, amortized costs | 254,025 | 223,173 |
Securities available-for-sale, gross unrealized gains | 4,363 | 45 |
Securities available-for-sale, gross unrealized losses | 64 | 1,435 |
Securities available-for-sale, fair values | 258,324 | 221,783 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized costs | 3,001 | 3,998 |
Securities available-for-sale, gross unrealized gains | 319 | 120 |
Securities available-for-sale, fair values | $ 3,320 | $ 4,118 |
Note 4 - Securities - Securit_2
Note 4 - Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Amortized cost, due in one year or less, available for sale securities | $ 8,732 | |
Fair value, due in one year or less, available for sale securities | 8,806 | |
Amortized cost, due after one year through five years, available for sale securities | 4,837 | |
Fair value, due after one year through five years, available for sale securities | 5,010 | |
Amortized cost, due after five years through ten years, available for sale securities | 130,312 | |
Fair value, due after five years through ten years, available for sale securities | 135,038 | |
Amortized cost, due after ten years, available for sale securities | 328,579 | |
Fair value, due after ten years, available for sale securities | 338,497 | |
Amortized cost, total securities available for sale | 472,460 | $ 435,166 |
Fair value, total securities available for sale | $ 487,351 | $ 435,263 |
Note 4 - Securities - Securit_3
Note 4 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Temporarily impaired securities, less than 12 months, fair value | $ 49,277 | $ 270,457 |
Temporarily impaired securities, less than 12 months unrealized loss | 423 | 2,769 |
Temporarily impaired securities, 12 months or more fair value | 5,637 | 39,553 |
Temporarily impaired securities, 12 months or more unrealized loss | 16 | 85 |
US Government Agencies Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 4,972 | 53,244 |
Temporarily impaired securities, less than 12 months unrealized loss | 25 | 738 |
Temporarily impaired securities, 12 months or more fair value | 38,962 | |
Temporarily impaired securities, 12 months or more unrealized loss | 37 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 26,545 | 35,934 |
Temporarily impaired securities, less than 12 months unrealized loss | 338 | 596 |
Temporarily impaired securities, 12 months or more fair value | 626 | 591 |
Temporarily impaired securities, 12 months or more unrealized loss | 12 | 48 |
Commercial Mortgage Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 17,760 | 181,279 |
Temporarily impaired securities, less than 12 months unrealized loss | 60 | $ 1,435 |
Temporarily impaired securities, 12 months or more fair value | 5,011 | |
Temporarily impaired securities, 12 months or more unrealized loss | $ 4 |
Note 6 - Defined Benefit Plan_2
Note 6 - Defined Benefit Plan (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 |
Note 6 - Defined Benefit Plan -
Note 6 - Defined Benefit Plan - Defined Benefit Plan Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Service cost | $ 810 | $ 600 | ||
Interest cost | 615 | 663 | ||
Expected return on plan assets | (1,260) | (1,095) | ||
Amortization of prior service cost | (81) | (81) | ||
Recognized net actuarial loss | 531 | 474 | ||
Net periodic benefit cost | $ 615 | $ 561 | ||
Pension Plan [Member] | ||||
Service cost | $ 270 | $ 200 | ||
Interest cost | 205 | 221 | ||
Expected return on plan assets | (420) | (365) | ||
Amortization of prior service cost | (27) | (27) | ||
Recognized net actuarial loss | 177 | 158 | ||
Net periodic benefit cost | $ 205 | $ 187 |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Loans Held-for-sale [Member] | Changes Measurement [Member] | Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Adjustment | $ 0 | $ 0 |
Note 7 - Fair Value Measureme_4
Note 7 - Fair Value Measurements - Assets and Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Securities available for sale | $ 487,351 | $ 435,263 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 487,351 | 435,263 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 62,593 | 121,123 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 62,593 | 121,123 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 163,114 | 88,239 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 163,114 | 88,239 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale | 258,324 | 221,783 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 258,324 | 221,783 |
Corporate Debt Securities [Member] | ||
Securities available for sale | 3,320 | 4,118 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | $ 3,320 | $ 4,118 |
Note 7 - Fair Value Measureme_5
Note 7 - Fair Value Measurements - Interest Rate Loan Contracts and Forward Contracts Fair Value Measurement (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Interest Rate Contract [Member] | Reported Value Measurement [Member] | ||
Interest rate loan contracts | $ 23 | |
Forward contracts | $ (1) | |
Interest rate loan contracts | 1 | |
Forward contracts | (23) | |
Interest Rate Contract [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Interest rate loan contracts | 23 | |
Forward contracts | (23) | |
Interest Rate Contract [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Interest rate loan contracts | 23 | |
Forward contracts | (1) | |
Interest rate loan contracts | 1 | |
Forward contracts | (23) | |
Forward Contracts [Member] | Reported Value Measurement [Member] | ||
Interest rate loan contracts | 4 | |
Forward contracts | (65) | |
Interest rate loan contracts | 65 | |
Forward contracts | (4) | |
Forward Contracts [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Interest rate loan contracts | 4 | |
Forward contracts | (65) | |
Interest rate loan contracts | 65 | |
Forward contracts | $ (4) | |
Forward Contracts [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Forward contracts | (65) | |
Interest rate loan contracts | $ 65 |
Note 7 - Fair Value Measureme_6
Note 7 - Fair Value Measurements - Change in Fair Value Measurement Impacts Net Income (Details) - Valuation, Market Approach [Member] | Sep. 30, 2020 | Dec. 31, 2019 | |
Pull-through Rate [Member] | Minimum [Member] | Interest Rate Contract [Member] | |||
Derivative asset (liability) | 0.8582 | ||
Derivative asset (liability) | (0.8582) | ||
Pull-through Rate [Member] | Minimum [Member] | Forward Contract [Member] | |||
Derivative asset (liability) | 0.8582 | ||
Derivative asset (liability) | (0.8582) | ||
Pull-through Rate [Member] | Maximum [Member] | Interest Rate Contract [Member] | |||
Derivative asset (liability) | 1 | ||
Derivative asset (liability) | (1) | ||
Pull-through Rate [Member] | Maximum [Member] | Forward Contract [Member] | |||
Derivative asset (liability) | 1 | ||
Derivative asset (liability) | (1) | ||
Pull-through Rate [Member] | Weighted Average [Member] | Interest Rate Contract [Member] | |||
Derivative asset (liability) | 0.9239 | ||
Derivative asset (liability) | (0.9239) | ||
Pull-through Rate1 [Member] | Weighted Average [Member] | Forward Contract [Member] | |||
Derivative asset (liability) | 0.9239 | ||
Derivative asset (liability) | (0.9239) | ||
Current Reference Price [Member] | Minimum [Member] | Interest Rate Contract [Member] | |||
Derivative asset (liability) | 1.0146 | 1.0149 | |
Derivative asset (liability) | (1.0146) | (1.0149) | |
Current Reference Price [Member] | Minimum [Member] | Forward Contract [Member] | |||
Derivative asset (liability) | 1.0146 | ||
Derivative asset (liability) | (1.0146) | ||
Current Reference Price [Member] | Minimum [Member] | Forward Contracts [Member] | |||
Derivative asset (liability) | 1.0149 | ||
Derivative asset (liability) | (1.0149) | ||
Current Reference Price [Member] | Maximum [Member] | Interest Rate Contract [Member] | |||
Derivative asset (liability) | 1.0436 | 1.0206 | |
Derivative asset (liability) | (1.0436) | (1.0206) | |
Current Reference Price [Member] | Maximum [Member] | Forward Contract [Member] | |||
Derivative asset (liability) | 1.0436 | ||
Derivative asset (liability) | (1.0436) | ||
Current Reference Price [Member] | Maximum [Member] | Forward Contracts [Member] | |||
Derivative asset (liability) | 1.0328 | ||
Derivative asset (liability) | (1.0328) | ||
Current Reference Price [Member] | Weighted Average [Member] | Interest Rate Contract [Member] | |||
Derivative asset (liability) | [1] | 1.0247 | 1.0172 |
Derivative asset (liability) | [1] | (1.0247) | (1.0172) |
Current Reference Price [Member] | Weighted Average [Member] | Forward Contract [Member] | |||
Derivative asset (liability) | [1] | 1.0260 | |
Derivative asset (liability) | [1] | (1.0260) | |
Current Reference Price [Member] | Weighted Average [Member] | Forward Contracts [Member] | |||
Derivative asset (liability) | [1] | 1.0191 | |
Derivative asset (liability) | [1] | (1.0191) | |
[1] | Current reference prices were weighted by the relative amount of the loan |
Note 7 - Fair Value Measureme_7
Note 7 - Fair Value Measurements - Impaired Loans and Other Real Estate Owned Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Impaired loans net of valuation allowance | $ 952 | $ 1,005 |
Other real estate owned net of valuation allowance | 1,553 | 1,612 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans net of valuation allowance | 952 | 1,005 |
Other real estate owned net of valuation allowance | $ 1,553 | $ 1,612 |
Note 7 - Fair Value Measureme_8
Note 7 - Fair Value Measurements - Level 3 Fair Value Measurements (Details) - Valuation, Market Approach [Member] | Sep. 30, 2020 | Dec. 31, 2019 | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | |||
Discount rate | [1] | 0.0550 | 0.0550 |
Discount rate | [1] | (0.0550) | (0.0550) |
Measurement Input, Discount Rate [Member] | Maximum [Member] | |||
Discount rate | [1] | 0.0650 | 0.0650 |
Discount rate | [1] | (0.0650) | (0.0650) |
Measurement Input, Discount Rate [Member] | Weighted Average [Member] | |||
Discount rate | [1] | 0.0578 | 0.0577 |
Discount rate | [1] | (0.0578) | (0.0577) |
Measurement Input, Cost to Sell [Member] | Maximum [Member] | |||
Level 3 Fair Value Measurements | [2] | 0.0554 | 0.0600 |
Level 3 Fair Value Measurements | [2] | (0.0554) | (0.0600) |
Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | |||
Level 3 Fair Value Measurements | [2] | 0.0046 | 0.0068 |
Level 3 Fair Value Measurements | [2] | (0.0046) | (0.0068) |
Measurement Input, Discount for Lack of Marketability and Age of Appraisal [Member] | Minimum [Member] | |||
Level 3 Fair Value Measurements | [2] | 0 | 0 |
Level 3 Fair Value Measurements | [2] | 0 | 0 |
Measurement Input, Discount for Lack of Marketability and Age of Appraisal [Member] | Maximum [Member] | |||
Level 3 Fair Value Measurements | [2] | 0.1135 | 0.4517 |
Level 3 Fair Value Measurements | [2] | (0.1135) | (0.4517) |
Measurement Input, Discount for Lack of Marketability and Age of Appraisal [Member] | Weighted Average [Member] | |||
Level 3 Fair Value Measurements | [2] | 0.0095 | 0.0128 |
Level 3 Fair Value Measurements | [2] | (0.0095) | (0.0128) |
[1] | Unobservable inputs were weighted by the relative fair value of the impaired loans. | ||
[2] | Discounts were weighted by the relative appraised value of the OREO properties. |
Note 7 - Fair Value Measureme_9
Note 7 - Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Reported Value Measurement [Member] | ||
Cash and due from banks | $ 10,593 | $ 10,290 |
Interest-bearing deposits | 68,779 | 76,881 |
Securities | 487,351 | 435,263 |
Restricted securities | 1,279 | 1,220 |
Loans held for sale | 3,690 | 905 |
Loans, net | 792,226 | 726,588 |
Accrued interest receivable | 5,238 | 4,285 |
Bank-owned life insurance | 36,226 | 35,567 |
Deposits | 1,213,582 | 1,119,753 |
Accrued interest payable | 86 | 144 |
Reported Value Measurement [Member] | Interest Rate Contract [Member] | ||
Interest rate loan contracts | 23 | |
Interest rate loan contracts | 1 | |
Reported Value Measurement [Member] | Forward Contracts [Member] | ||
Interest rate loan contracts | 4 | |
Interest rate loan contracts | 65 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 10,593 | 10,290 |
Interest-bearing deposits | 68,779 | 76,881 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Contract [Member] | ||
Interest rate loan contracts | 23 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities | 487,351 | 435,263 |
Restricted securities | 1,279 | 1,220 |
Loans held for sale | 3,690 | 905 |
Accrued interest receivable | 5,238 | 4,285 |
Bank-owned life insurance | 36,226 | 35,567 |
Deposits | 1,110,574 | 991,725 |
Accrued interest payable | 86 | 144 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Forward Contracts [Member] | ||
Interest rate loan contracts | 65 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 783,201 | 718,299 |
Deposits | 103,191 | 128,011 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Contract [Member] | ||
Interest rate loan contracts | 23 | |
Interest rate loan contracts | 1 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Forward Contracts [Member] | ||
Interest rate loan contracts | $ 4 | |
Interest rate loan contracts | $ 65 |
Note 8 - Components of Accumu_3
Note 8 - Components of Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balance | $ 195,781 | $ 183,848 | $ 183,726 | $ 190,238 |
Balance | 202,194 | 187,988 | 202,194 | 187,988 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Balance | 9,518 | 2,457 | 76 | (5,072) |
Unrealized holding gain (loss) on available for sale securities, net of tax | 2,256 | 544 | 11,763 | 8,089 |
Reclassification adjustment, net of tax | (11) | (128) | (76) | (144) |
Balance | 11,763 | 2,873 | 11,763 | 2,873 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balance | (7,013) | (8,582) | (7,013) | |
Balance | (8,582) | (7,013) | (8,582) | (7,013) |
AOCI Attributable to Parent [Member] | ||||
Balance | 936 | (4,556) | (8,506) | (12,085) |
Unrealized holding gain (loss) on available for sale securities, net of tax | 2,256 | 544 | 11,763 | 8,089 |
Reclassification adjustment, net of tax | (11) | (128) | (76) | (144) |
Balance | $ 3,181 | $ (4,140) | $ 3,181 | $ (4,140) |
Note 8 - Components of Accumu_4
Note 8 - Components of Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Details) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Unrealized holding gain (loss) on available for sale securities, tax | $ 601 | $ 146 | $ 3,127 | $ 2,149 |
Reclassification adjustment for gain included in net income, taxes | (3) | (34) | (20) | (38) |
AOCI Attributable to Parent [Member] | ||||
Unrealized holding gain (loss) on available for sale securities, tax | 601 | 146 | 3,127 | 2,149 |
Reclassification adjustment for gain included in net income, taxes | $ (3) | $ (34) | $ (20) | $ (38) |
Note 9 - Revenue Recognition -
Note 9 - Revenue Recognition - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Noninterest Income (in-scope of Topic 606) | $ 1,413 | $ 1,576 | $ 4,150 | $ 4,572 |
Noninterest Income (out-of-scope of Topic 606) | 513 | 522 | 1,656 | 1,871 |
Total noninterest income | 1,926 | 2,098 | 5,806 | 6,443 |
Deposit Account [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 471 | 643 | 1,430 | 1,840 |
Product and Service, Other [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 37 | 46 | 113 | 149 |
Credit and Debit Card [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 339 | 350 | 1,031 | 1,015 |
Fiduciary and Trust [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 423 | 440 | 1,244 | 1,208 |
Insurance and Investment [Member] | ||||
Noninterest Income (in-scope of Topic 606) | $ 143 | $ 97 | $ 332 | $ 360 |
Note 10 - Leases - Lease Inform
Note 10 - Leases - Lease Information and Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Right-of-use asset | $ 2,074 | $ 2,074 | $ 2,277 | ||
Weighted average remaining lease term (in years) (Year) | 6 years 10 months 24 days | ||||
Weighted average discount rate | 3.04% | 3.04% | 3.02% | ||
Operating lease expense | $ 92 | $ 82 | $ 277 | $ 218 | |
Short-term lease expense | 1 | 29 | 2 | 101 | |
Total lease expense | 93 | 111 | 279 | 319 | |
Cash paid for amounts included in lease liabilities | 90 | 79 | 272 | 211 | |
Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period | 23 | $ 284 | 23 | $ 1,837 | |
Other Liabilities [Member] | |||||
Lease liability | $ 2,090 | $ 2,090 | $ 2,286 |
Note 10 - Leases - Lease Liabil
Note 10 - Leases - Lease Liability Maturity Schedule (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Three months ending December 31, 2020 | $ 90 | |
Twelve months ending December 31, 2021 | 363 | |
Twelve months ending December 31, 2022 | 352 | |
Twelve months ending December 31, 2023 | 352 | |
Twelve months ending December 31, 2024 | 334 | |
Twelve months ending December 31, 2025 | 244 | |
Thereafter | 608 | |
Total undiscounted cash flows | 2,343 | |
Less: discount | (253) | |
Other Liabilities [Member] | ||
Lease liability | $ 2,090 | $ 2,286 |