Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 07, 2023 | |
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 | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
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 | |
City Area Code | 540 | |
Local Phone Number | 951-6300 | |
Title of 12(b) Security | Common Stock, par value $1.25 per share | |
Trading Symbol | NKSH | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,891,739 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 13,089 | $ 12,403 |
Interest-bearing deposits | 40,353 | 59,026 |
Securities available for sale, at fair value | 591,552 | 656,852 |
Restricted stock, at cost | 1,264 | 941 |
Mortgage loans held for sale | 82 | 0 |
Loans: | ||
Total Loans | 848,975 | 852,744 |
Less allowance for credit losses | (10,181) | (8,225) |
Total loans, net | 838,794 | 844,519 |
Premises and equipment, net | 11,091 | 10,371 |
Accrued interest receivable | 6,180 | 6,001 |
Other real estate owned, net | 662 | 662 |
Goodwill | 5,848 | 5,848 |
Bank-owned life insurance | 43,327 | 43,312 |
Other assets | 39,660 | 37,616 |
Total assets | 1,591,902 | 1,677,551 |
Liabilities and Stockholders' Equity | ||
Noninterest-bearing demand deposits | 303,166 | 327,713 |
Interest-bearing demand deposits | 789,148 | 933,269 |
Savings deposits | 184,801 | 214,114 |
Time deposits | 187,885 | 67,629 |
Total deposits | 1,465,000 | 1,542,725 |
Accrued interest payable | 551 | 106 |
Other liabilities | 10,238 | 12,033 |
Total liabilities | 1,475,789 | 1,554,864 |
Commitments and contingencies | ||
Stockholders' Equity | ||
Preferred stock, no par value, 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock of $1.25 par value and additional paid in capital. Authorized 10,000,000 shares; issued and outstanding 5,891,739 (including 2,052 unvested) shares at September 30, 2023 and 5,889,687 at December 31, 2022 | 7,383 | 7,362 |
Retained earnings | 198,394 | 199,091 |
Accumulated other comprehensive loss, net | (89,664) | (83,766) |
Total stockholders' equity | 116,113 | 122,687 |
Total liabilities and stockholders' equity | $ 1,591,902 | $ 1,677,551 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
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 | 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) | 5,891,739 | 5,889,687 |
Common stock, shares outstanding (in shares) | 5,891,739 | 5,889,687 |
Common stock, shares unvested (in shares) | 2,052 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest Income | ||||
Interest and fees on loans | $ 9,816 | $ 8,816 | $ 28,793 | $ 25,240 |
Interest on interest-bearing deposits | 439 | 506 | 1,207 | 757 |
Interest on securities – taxable | 4,084 | 3,425 | 12,268 | 8,847 |
Interest on securities – nontaxable | 340 | 408 | 1,052 | 1,283 |
Total interest income | 14,679 | 13,155 | 43,320 | 36,127 |
Interest Expense | ||||
Interest on time deposits | 1,452 | 31 | 2,865 | 105 |
Interest on other deposits | 4,584 | 722 | 11,352 | 1,950 |
Interest on borrowings | 3 | 0 | 300 | 0 |
Total interest expense | 6,039 | 753 | 14,517 | 2,055 |
Net interest income | 8,640 | 12,402 | 28,803 | 34,072 |
(Recovery of) provision for credit losses | (401) | 252 | (389) | 696 |
Net interest income after (recovery of) provision for credit losses | 9,041 | 12,150 | 29,192 | 33,376 |
Noninterest Income: | ||||
Noninterest Income | 1,835 | 1,795 | 5,370 | 5,271 |
BOLI income | 253 | 239 | 1,771 | 718 |
Gain on sale of mortgage loans | 22 | 40 | 93 | 136 |
Other income | 147 | 209 | 771 | 909 |
Total noninterest income | 2,115 | 2,140 | 7,105 | 6,543 |
Gain on sale of investment | 2,971 | 0 | ||
Loss on sale of securities | (3,332) | 0 | ||
Noninterest Expense | ||||
Salaries and employee benefits | 4,462 | 4,144 | 13,361 | 12,133 |
Occupancy, furniture and fixtures | 547 | 476 | 1,500 | 1,432 |
Data processing and ATM | 978 | 774 | 2,730 | 2,354 |
FDIC assessment | 190 | 114 | 561 | 336 |
Net costs of other real estate owned | 14 | 68 | 29 | 78 |
Franchise taxes | 339 | 375 | 1,072 | 1,108 |
Professional services | 251 | 254 | 1,555 | 693 |
Other operating expenses | 684 | 531 | 1,878 | 1,526 |
Total noninterest expense | 7,465 | 6,736 | 22,686 | 19,660 |
Income before income taxes | 3,691 | 7,554 | 13,611 | 20,259 |
Income tax expense | 617 | 1,392 | 2,105 | 3,637 |
Net Income | $ 3,074 | $ 6,162 | $ 11,506 | $ 16,622 |
Basic net income per common share (in dollars per share) | $ 0.52 | $ 1.03 | $ 1.95 | $ 2.77 |
Diluted net income per common share (in dollars per share) | $ 0.52 | $ 1.03 | $ 1.95 | $ 2.77 |
Weighted average number of common shares outstanding, basic (in shares) | 5,889,687 | 5,974,961 | 5,889,687 | 6,008,607 |
Weighted average number of common shares outstanding, diluted (in shares) | 5,889,939 | 5,974,961 | 5,889,778 | 6,008,607 |
Dividends declared per common share (in dollars per share) | $ 0 | $ 0 | $ 1.73 | $ 0.72 |
Deposit Account [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | $ 642 | $ 661 | $ 1,871 | $ 1,826 |
Product and Service, Other [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | 151 | 51 | 253 | 157 |
Credit and Debit Card [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | 395 | 448 | 1,276 | 1,423 |
Fiduciary and Trust [Member] | ||||
Noninterest Income: | ||||
Noninterest Income | $ 505 | $ 492 | $ 1,431 | $ 1,374 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net Income | $ 3,074 | $ 6,162 | $ 11,506 | $ 16,622 |
Other Comprehensive Loss, Net of Tax | ||||
Unrealized holding loss on available for sale securities net of tax of ($4,099) and ($7,822) for the periods ended September 30, 2023 and September 30, 2022, respectively | (15,421) | (29,424) | (8,530) | (88,143) |
Other comprehensive loss, net of tax | (15,421) | (29,424) | (5,898) | (88,143) |
Total Comprehensive Loss | (12,347) | (23,262) | 5,608 | (71,521) |
Net Income | $ 3,074 | $ 6,162 | 11,506 | 16,622 |
Reclassification adjustment for loss included in net income, net of tax of $700 in 2023 | $ 2,632 | $ 0 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Loss (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Unrealized holding gain (loss) on available for sale securities, tax | $ (4,099) | $ (7,822) | $ (2,268) | $ (23,431) |
Unrealized holding gain (loss) on available for sale securities, tax | $ (4,099) | $ (7,822) | (2,268) | $ (23,431) |
Reclassification adjustment for gain included in net income, tax | $ 700 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock Including Additional Paid in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2021 | $ 7,580 | $ 188,229 | $ (4,058) | $ 191,751 | ||||
Net income | 0 | 16,622 | 0 | 16,622 | ||||
Common stock repurchased | (133) | (3,591) | 0 | (3,724) | ||||
Other comprehensive loss, net of tax | 0 | 0 | (88,143) | (88,143) | ||||
Cash dividends | 0 | (4,319) | 0 | (4,319) | ||||
Balances at Sep. 30, 2022 | 7,447 | 196,941 | (92,201) | 112,187 | ||||
Balances at Jun. 30, 2022 | 7,476 | 191,545 | (62,777) | 136,244 | ||||
Net income | 0 | 6,162 | 0 | 6,162 | ||||
Common stock repurchased | (29) | (766) | 0 | (795) | ||||
Other comprehensive loss, net of tax | 0 | 0 | (29,424) | (29,424) | ||||
Balances at Sep. 30, 2022 | 7,447 | 196,941 | (92,201) | 112,187 | ||||
Balances (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ (2,014) | $ 0 | $ (2,014) | ||||
Balances at Dec. 31, 2022 | 7,362 | 199,091 | (83,766) | 122,687 | ||||
Net income | 0 | 11,506 | 0 | 11,506 | ||||
Other comprehensive loss, net of tax | 0 | 0 | (5,898) | (5,898) | ||||
Stock based compensation | 21 | 0 | 0 | 21 | ||||
Cash dividends | 0 | (10,189) | 0 | (10,189) | ||||
Balances at Sep. 30, 2023 | 7,383 | 198,394 | (89,664) | 116,113 | ||||
Balances at Jun. 30, 2023 | 7,367 | 195,320 | (74,243) | 128,444 | ||||
Net income | 0 | 3,074 | 0 | 3,074 | ||||
Other comprehensive loss, net of tax | 0 | 0 | (15,421) | (15,421) | ||||
Stock based compensation | 16 | 0 | 0 | 16 | ||||
Balances at Sep. 30, 2023 | $ 7,383 | $ 198,394 | $ (89,664) | $ 116,113 |
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, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Stock repurchase, shares (in shares) | 23,500 | 106,662 | ||
Other comprehensive income (loss), tax | $ (4,099) | $ (7,822) | $ (1,568) | $ (23,431) |
Cash dividend, per share (in dollars per share) | $ 0 | $ 0 | $ 1.73 | $ 0.72 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Cash Flows from Operating Activities | |||||||
Net income | $ 3,074 | $ 6,162 | $ 11,506 | $ 16,622 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
(Recovery of) provision for credit losses | (401) | 252 | (389) | 696 | $ 706 | ||
Depreciation of bank premises and equipment | 544 | 449 | |||||
Amortization of premiums and accretion of discounts, net | 806 | 972 | |||||
Gain on disposal of fixed assets | 0 | (4) | |||||
Loss on sales of securities available for sale, net | 3,332 | 0 | |||||
Losses and write-downs on other real estate owned, net | 0 | 50 | |||||
Loss on sales of repossessed assets | 5 | 0 | |||||
Increase in cash value of bank-owned life insurance | (734) | (718) | |||||
Origination of mortgage loans held for sale | (6,689) | (6,348) | |||||
Proceeds from sale of mortgage loans held for sale | 6,700 | 7,099 | |||||
Gain on sale of mortgage loans held for sale | (22) | (40) | (93) | (136) | |||
Equity based compensation expense | 21 | 0 | |||||
Net change in: | |||||||
Accrued interest receivable | (179) | (718) | |||||
Other assets | 59 | 33 | |||||
Accrued interest payable | 445 | (8) | |||||
Other liabilities | (2,002) | 282 | |||||
Net cash provided by operating activities | 13,332 | 18,271 | |||||
Cash Flows from Investing Activities | |||||||
Proceeds from calls, principal payments, sales and maturities of securities available for sale | 53,696 | 33,465 | |||||
Purchase of securities available for sale | 0 | (117,341) | |||||
Net change in restricted stock | (323) | (96) | |||||
Purchase of loan participations | (5,118) | (10,965) | |||||
Collection of loan participations | 6,686 | 4,513 | |||||
Loan originations and principal collections, net | 1,958 | (43,479) | |||||
Proceeds from sale of repossessed assets | 13 | 0 | |||||
Recoveries on loans charged off | 235 | 153 | |||||
Proceeds from sale and purchases of premises and equipment, net | (1,264) | (906) | |||||
BOLI settlement | 712 | 0 | |||||
Net cash provided by (used in) investing activities | 56,595 | (134,656) | |||||
Cash Flows from Financing Activities | |||||||
Net change in time deposits | 120,256 | (1,945) | |||||
Net change in other deposits | (197,981) | 78,007 | |||||
Common stock repurchased | 0 | (3,724) | |||||
Cash dividends paid | (10,189) | (4,319) | |||||
Net cash (used in) provided by financing activities | (87,914) | 68,019 | |||||
Net change in cash and due from banks | (17,987) | (48,366) | |||||
Cash and due from banks at beginning of period | 71,429 | 138,789 | 138,789 | ||||
Cash and due from banks at end of period | $ 53,442 | $ 90,423 | $ 53,442 | $ 90,423 | 53,442 | 90,423 | $ 71,429 |
Supplemental Disclosures of Cash Flow Information | |||||||
Interest paid on deposits and borrowings | 14,072 | 2,063 | |||||
Income taxes paid | 3,997 | 3,441 | |||||
Supplemental Disclosure of Noncash Activities | |||||||
Loans charged against the allowance for credit losses | 232 | 316 | |||||
Loans transferred to repossessed assets | 11 | 0 | |||||
Unrealized holding loss on securities available for sale | (7,466) | (111,574) | |||||
Lease liabilities arising from obtaining right-of-use assets | $ 0 | $ 79 | $ 0 | $ 104 |
Note 1 - General
Note 1 - General | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: 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 (“GAAP”) and to general practices within the banking industry. The accompanying interim period consolidated financial statements are unaudited; however, in the opinion of the Company’s 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, 2023 not 10 10 December 31, 2022 ( “2022 10 1934 www.nationalbankshares.com Risks and Uncertainties The Company is closely monitoring risks that may may Recent Accounting Pronouncements In October 2023, 2023 06, not not two June 30, 2027, not not not 2023 06 In July 2023, 2023 03, 205 220 480 505 718 No. 120, March 24, 2022 6.B, 280—General X: 2023 03 not 2023 03 In March 2020, 2020 04 848 March 12, 2020 December 31, 2022. January 2021, 2021 01 848 848 848 may 2021 01 March 12, 2020, January 7, 2021, may 2021 01 March 12, 2020, March 12, 2020. In December 2022, 2022 06, 848 848”. 2022 06 848. 848 848 2021, June 30, 2023. To ensure the relief in Topic 848 may 848 December 31, 2022, December 31, 2024, no 848. 2022 06 Recently Adopted Accounting Standards ASU 2016 13 On January 1, 2023, 2016 13 326 ASU 2016 13 2016 13 The Company applied the standard’s provisions as a cumulative-effect adjustment of $2,014, net of tax, to retained earnings as of January 1, 2023. not January 1, 2023 326, January 1, 2023 ACL on Securities Available for Sale The Company evaluates securities available for sale that are in an unrealized loss position on the reporting date. Securities are analyzed to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or noncredit-related factors. Any impairment that is not may not no In evaluating impairment, the Company considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, among other factors. If the Company determines a credit impairment, the ACL on securities available for sale would be established through a provision for credit losses on securities available for sale in the Consolidated Statements of Income. If the Company’s management believes it has confirmed that the loss on a security is uncollectible, or when either of the criteria regarding intent or requirement to sell is met, the loss is charged against the ACL. Accrued interest receivable is excluded from the estimate of credit losses. ACL on Loans (“ACLL”) The Company estimates the ACLL based on amortized cost basis, which is the amount at which the loan is originated, adjusted for net deferred fees or costs, collection of cash, and charge-offs. In the event that collection of principal becomes uncertain, the Company has policies in place to reverse accrued interest in a timely manner. Therefore, the Company has made a policy election to exclude accrued interest from the measurement of the ACLL. Intrinsic to the Company’s policy on estimating the ACLL are policies regarding loan pools, nonaccruals, past due status, collateral valuation, charge-offs and risk ratings. Please refer to the Company’s 2022 10 1: The Company measures expected credit losses on loans on a collective (pool) basis, when the loans share similar risk characteristics, such as collateral type and intended use, repayment source, and (if applicable) the borrower’s business model. The Company has identified the following pools of loans with similar risk characteristics for measuring expected credit losses: 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 Public sector and IDA Consumer Non Real Estate Credit cards Automobile Other consumer loans The Company’s methodologies for estimating the ACLL consider available relevant information about the collectability of cash flows, including historical losses, reasonable and supportable forecasts of economic conditions, and current economic and portfolio conditions. The difference between cash flow estimates and amortized cost is the ACLL. The Company uses a discounted cash flow (“DCF”) method for all of its pools except for bankcards, which are measured using the historical loss rate adjusted for the forecast. For loans using the DCF method, cash flows are projected at the instrument level and discounted using the loan’s effective interest rate. Cash flows are generated using each loan’s payment attributes, adjusted for pool-level information on the probability of default (“PD”), loss given default and prepayment speeds. Default is defined as full or partial charge-off, nonaccrual status or past due 90 The Company designated national unemployment as its forecast variable. Multiple forecasts from reputable and independent third one not two three The results of DCF calculations are modified by allocations for qualitative factors to account for changes in variables that may Loans that do not The collateral method is applied to individually evaluated loans for which foreclosure is probable. The collateral method is also applied to individually evaluated loans when borrowers are experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral (“collateral dependent”). The ACLL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, the ACLL is calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. When repayment is expected to be from the sale of the collateral, the ACLL is calculated as the amount by which the loan’s amortized cost basis exceeds the fair value of the underlying collateral less estimated cost to sell. The ACLL may zero The DCF method is applied to individually evaluated loans that do not 100% Expected credit losses are reflected in the ACLL through a charge to provision for credit losses on the Consolidated Statements of Income. When the Company deems all or a portion of a loan to be uncollectible the appropriate amount is written off against the ACLL. The Company applies judgment to determine when a financial asset is deemed uncollectible; however, generally speaking, an asset will be considered uncollectible no ACL on Unfunded Commitments Financial instruments include off-balance sheet credit instruments such as undrawn portions of revolving lines of credit, commercial letters of credit, and loan commitments that have not ASU 2022 02 On January 1, 2023, 2016 13, 2022 02, 326 Similar to its policy under previous GAAP, the Company continues to identify modifications to loans and to determine whether the borrower is experiencing financial difficulty. If the Company determines that the borrower is experiencing financial difficulty, the loan is designated for financial reporting purposes. Loans that are modified for borrowers experiencing financial difficulty are evaluated to determine whether the credit risk falls within the regulatory definition of “criticized” and requires individual evaluation. Under previous GAAP, modifications to loans when the borrower was experiencing financial difficulty were designated as TDR and were individually evaluated for the duration of the loan. |
Note 2 - Loans and Allowance fo
Note 2 - Loans and Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 2: Loans The following table presents the composition of the loan portfolio, excluding mortgage loans held for sale, as of the dates indicated. September 30, 2023 December 31, 2022 Real estate construction $ 64,181 $ 54,579 Consumer real estate 226,671 221,052 Commercial real estate 424,765 437,888 Commercial non real estate 42,940 57,652 Public sector and IDA 51,591 48,074 Consumer non real estate 39,269 33,948 Gross loans 849,417 853,193 Less unearned income and deferred fees and costs (442 ) (449 ) Loans, net of unearned income and deferred fees and costs $ 848,975 $ 852,744 Allowance for credit losses on loans (10,181 ) (8,225 ) Total loans, net $ 838,794 $ 844,519 Accrued interest receivable on loans, which is excluded from the amortized cost of loans, totaled $2,760 at September 30, 2023 December 31, 2022. Past Due and Nonaccrual Loans The following tables present the aging of past due loans, by loan pool, as of the dates indicated. September 30, 2023 Accruing Current Loans Accruing Loans 30 89 Days Past Due Accruing Loans 90 or More Days Past Due Nonaccrual Loans Total Loans Accruing and Nonaccrual 90 or More Days Past Due Real Estate Construction Construction, 1-4 family residential $ 16,995 $ - $ - $ - $ 16,995 $ - Construction, other 47,165 21 - - 47,186 - Consumer Real Estate Equity line 16,631 23 - - 16,654 - Residential closed-end first liens 122,839 679 7 85 123,610 92 Residential closed-end junior liens 5,009 13 - - 5,022 - Investor-owned residential real estate 81,385 - - - 81,385 - Commercial Real Estate Multifamily residential real estate 133,188 - - - 133,188 - Commercial real estate owner-occupied 116,089 288 - 2,429 118,806 236 Commercial real estate, other 172,771 - - - 172,771 - Commercial Non Real Estate Commercial and industrial 42,452 4 17 467 42,940 252 Public Sector and IDA States and political subdivisions 51,591 - - - 51,591 - Consumer Non-Real Estate Credit cards 4,570 4 - - 4,574 - Automobile 11,933 42 2 - 11,977 3 Other consumer loans 22,615 98 5 - 22,718 5 Total $ 845,233 $ 1,172 $ 31 $ 2,981 $ 849,417 $ 588 December 31, 2022 Accruing Current Loans Accruing Loans 30 89 Days Past Due Accruing Loans 90 or More Days Past Due Nonaccrual Loans Total Loans Accruing and Nonaccrual 90 or More Days Past Due Real Estate Construction Construction, 1-4 family residential $ 12,538 $ - $ - $ - $ 12,538 $ - Construction, other 42,041 - - - 42,041 - Consumer Real Estate Equity line 15,010 16 - - 15,026 - Residential closed-end first liens 121,807 750 - 91 122,648 91 Residential closed-end junior liens 2,446 - - - 2,446 - Investor-owned residential real estate 80,524 408 - - 80,932 - Commercial Real Estate Multifamily residential real estate 127,312 - - - 127,312 - Commercial real estate owner-occupied 126,640 - - 2,493 129,133 252 Commercial real estate, other 181,443 - - - 181,443 - Commercial Non Real Estate Commercial and industrial 57,373 16 - 263 57,652 - Public Sector and IDA States and political subdivisions 48,074 - - - 48,074 - Consumer Non-Real Estate Credit cards 4,592 3 2 - 4,597 2 Automobile 9,833 102 - - 9,935 - Other consumer loans 19,317 93 6 - 19,416 6 Total $ 848,950 $ 1,388 $ 8 $ 2,847 $ 853,193 $ 351 The following table presents nonaccrual loans, by loan class, as of the dates indicated: CECL Incurred Loss September 30, 2023 December 31, 2022 Nonaccrual Loans Nonaccrual Loans With No Allowance With an Allowance Total Consumer Real Estate Residential closed-end first liens $ - $ 85 $ 85 $ 91 Commercial Real Estate Commercial real estate owner-occupied - 2,429 2,429 2,493 Commercial Non Real Estate Commercial and industrial - 467 467 263 Total $ - $ 2,981 $ 2,981 $ 2,847 During the three nine September 30, 2023, no The following table presents certain past due indicators as of the dates indicated. September 30, December 31, 2023 2022 2022 Ratio of ACLL to nonaccrual loans 341.53 % 284.18 % 288.90 % Ratio of loans past due 90 days or more and still accruing to loans, net of unearned income and deferred fees and costs 0.00 % 0.01 % 0.00 % Allowance for Credit Losses on Loans The following tables present the activity in the ACLL by portfolio segment for the periods indicated: Activity in the Allowance for Credit Losses on Loans for the Nine Months Ended September 30, 2023 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Balance, December 31, 2022 $ 450 $ 2,199 $ 3,642 $ 930 $ 319 $ 506 $ 179 $ 8,225 Adoption of ASU 2016-13 (21 ) 1,261 700 216 (15 ) 72 129 2,342 Charge-offs - (17 ) - (11 ) - (204 ) - (232 ) Recoveries - 103 37 4 - 91 - 235 Provision for (recovery of) credit losses 133 (353 ) (212 ) (300 ) 10 156 177 (389 ) Balance, September 30, 2023 $ 562 $ 3,193 $ 4,167 $ 839 $ 314 $ 621 $ 485 $ 10,181 Activity in the Allowance for Loan Losses for the Nine Months Ended September 30, 2022 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Balance, December 31, 2021 $ 422 $ 1,930 $ 3,121 $ 1,099 $ 297 $ 444 $ 361 $ 7,674 Charge-offs - (13 ) - (2 ) - (301 ) - (316 ) Recoveries - 29 36 10 - 78 - 153 Provision for (recovery of) loan losses 225 266 452 (329 ) 39 263 (220 ) 696 Balance, September 30, 2022 $ 647 $ 2,212 $ 3,609 $ 778 $ 336 $ 484 $ 141 $ 8,207 Activity in the Allowance for Loan Losses for the Year Ended December 31, 2022 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Balance, December 31, 2021 $ 422 $ 1,930 $ 3,121 $ 1,099 $ 297 $ 444 $ 361 $ 7,674 Charge-offs - (13 ) - (2 ) - (352 ) - (367 ) Recoveries - 29 49 11 - 123 - 212 Provision for (recovery of) loan losses 28 253 472 (178 ) 22 291 (182 ) 706 Balance, December 31, 2022 $ 450 $ 2,199 $ 3,642 $ 930 $ 319 $ 506 $ 179 $ 8,225 The following tables present information about the ACLL for individually evaluated loans and collectively evaluated loans by portfolio segment as of the dates indicated. Allowance for Credit Losses on Loans as of September 30, 2023 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 $ - $ 78 $ 548 $ 248 $ - $ 1 $ - $ 875 Collectively evaluated 562 3,115 3,619 591 314 620 485 9,306 Total $ 562 $ 3,193 $ 4,167 $ 839 $ 314 $ 621 $ 485 $ 10,181 Allowance for Loan Losses as of December 31, 2022 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 $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated 450 2,199 3,642 930 319 506 179 8,225 Total $ 450 $ 2,199 $ 3,642 $ 930 $ 319 $ 506 $ 179 $ 8,225 The following tables present information about individually evaluated loans and collectively evaluated loans by portfolio segment as of the dates indicated. Loans as of September 30, 2023 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Total Individually evaluated $ 288 $ 1,059 $ 8,826 $ 473 $ - $ 12 $ 10,658 Collectively evaluated 63,893 225,612 415,939 42,467 51,591 39,257 838,759 Total $ 64,181 $ 226,671 $ 424,765 $ 42,940 $ 51,591 $ 39,269 $ 849,417 Loans as of December 31, 2022 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non- Real Estate Total Individually evaluated $ - $ 186 $ 2,583 $ 263 $ - $ - $ 3,032 Collectively evaluated 54,579 220,866 435,305 57,389 48,074 33,948 850,161 Total $ 54,579 $ 221,052 $ 437,888 $ 57,652 $ 48,074 $ 33,948 $ 853,193 The following table presents ratios pertaining to the ACLL as of the dates and for the periods indicated. As of and for the Nine Months Ended September 30, Year Ended December 31, 2023 2022 2022 Ratio of ACLL to the end of period loans, net of unearned income and deferred fees and costs 1.20 % 0.96 % 0.96 % Ratio of net charge-offs, annualized, to average loans, net of unearned income and deferred fees and costs 0.00 % 0.03 % 0.02 % In accordance with CECL, the Company identifies individually evaluated loans when their risk characteristics become different from their pool. Under previous GAAP, the Company identified loans for potential impairment through a variety of means, including, but not not 2022 10 Individually Evaluated Loans under Incurred Loss as of December 31, 2022 Principal Balance Recorded Investment (1) Recorded Investment (1) for Which There is No Related Allowance Recorded Investment (1) for Which There is a Related Allowance Related Allowance Consumer Real Estate Investor-owned residential real estate $ 186 $ 186 $ 186 $ - $ - Commercial Real Estate Commercial real estate, owner occupied 3,248 2,583 2,583 - - Commercial Non Real Estate Commercial and industrial 285 263 263 - - Total $ 3,719 $ 3,032 $ 3,032 $ - $ - ( 1 Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. The following table shows the average recorded investment and interest income recognized for individually evaluated loans under the incurred loss model for the period indicated. Only classes with individually evaluated loans are presented. For the Nine Months Ended September 30, 2022 Average Recorded Investment (1) Interest Income Recognized Consumer Real Estate Investor-owned residential real estate $ 189 $ 9 Commercial Real Estate Commercial real estate, owner occupied 2,601 4 Commercial Non-Real Estate Commercial and industrial 277 - Total $ 3,067 $ 13 ( 1 Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. Collateral Dependent Loans The Company reviews individually evaluated loans to identify collateral dependency. Loans are collateral dependent when repayment is expected substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. The Company adopted the practical expedient provided by ASU 2016 13 no September 30, 2023, one All collateral loans are secured by real estate as of September 30, 2023. September 30, 2023 Balance Related Allowance Consumer Real Estate Residential closed-end first lien $ 7 - Total Loans $ 7 - Credit Quality The Company categorizes loans by risk based on relevant information about the ability of borrowers to service their debt, including: collateral and financial information, historical payment experience, credit documentation and current economic trends, among other factors. At origination, each loan is assigned a risk rating. Ongoing analysis of the loan portfolio adjusts risk ratings on an individual loan basis to reflect updated information. General descriptions of risk ratings are as follows: ● Pass: loans with acceptable credit quality are rated pass. ● Special mention: loans with potential weaknesses due to challenging economic or financial conditions are rated special mention. ● Classified: loans with well-defined weaknesses that heighten the risk of default are rated classified. The following table presents the amortized cost basis of the loan portfolio, by year of origination, loan class, and credit quality, as of the date indicated. Term Loans Amortized Cost Basis by Origination Year Revolving Loans September 30, 2023 Prior 2019 2020 2021 2022 2023 Revolving Converted to Term Total Construction, residential Pass $ - $ - $ 233 $ 121 $ 3,787 $ 2,705 $ 10,149 $ - $ 16,995 Construction, other Pass $ 3,196 $ 1,111 $ 1,411 $ 23,163 $ 11,577 $ 4,375 $ 2,065 $ - $ 46,898 Classified - - - 288 - - - - 288 Total $ 3,196 $ 1,111 $ 1,411 $ 23,451 $ 11,577 $ 4,375 $ 2,065 $ - $ 47,186 Equity lines Pass $ 53 $ - $ - $ - $ - $ - $ 16,553 $ 6 $ 16,612 Classified - - - - - - 42 - 42 Total $ 53 $ - $ - $ - $ - $ - $ 16,595 $ 6 $ 16,654 Residential closed-end first liens Pass $ 33,129 $ 5,874 $ 14,784 $ 32,074 $ 28,768 $ 8,681 $ - $ - $ 123,310 Classified 300 - - - - - - - 300 Total $ 33,429 $ 5,874 $ 14,784 $ 32,074 $ 28,768 $ 8,681 $ - $ - $ 123,610 YTD gross charge-offs $ - $ - $ 17 $ - $ - $ - $ - $ - $ 17 Residential closed-end junior liens Pass $ 1,749 $ 118 $ - $ 175 $ 1,395 $ 1,570 $ - $ 15 $ 5,022 Investor-owned residential real estate Pass $ 23,141 $ 5,215 $ 14,348 $ 19,475 $ 13,888 $ 3,093 $ 1,409 $ 99 $ 80,668 Classified 717 - - - - - - - 717 Total $ 23,858 $ 5,215 $ 14,348 $ 19,475 $ 13,888 $ 3,093 $ 1,409 $ 99 $ 81,385 Multifamily residential real estate Pass $ 42,874 $ 1,823 $ 11,820 $ 40,944 $ 26,874 $ 8,853 $ - $ - $ 133,188 Commercial real estate, owner occupied Pass $ 43,438 $ 11,295 $ 23,661 $ 4,843 $ 16,731 $ 7,757 $ 2,255 $ - $ 109,980 Special mention 6,396 - - - - - - - 6,396 Classified 2,430 - - - - - - - 2,430 Total $ 52,264 $ 11,295 $ 23,661 $ 4,843 $ 16,731 $ 7,757 $ 2,255 $ - $ 118,806 Commercial real estate, other Pass $ 70,064 $ 22,033 $ 19,300 $ 36,272 $ 22,600 $ 1,957 $ 545 $ - $ 172,771 Commercial and industrial Pass $ 6,100 $ 494 $ 1,189 $ 13,059 $ 7,439 $ 6,634 $ 7,552 $ - $ 42,467 Classified 231 - - - 7 - 235 - 473 Total $ 6,331 $ 494 $ 1,189 $ 13,059 $ 7,446 $ 6,634 $ 7,787 $ - $ 42,940 YTD gross charge-offs $ - $ 11 $ - $ - $ - $ - $ - $ - $ 11 Public sector and IDA Pass $ 20,942 $ 14 $ 239 $ 17,683 $ 6,438 $ 6,275 $ - $ - $ 51,591 Credit cards Pass $ - $ - $ - $ - $ - $ - $ 4,574 $ - $ 4,574 YTD gross charge-offs $ - $ - $ - $ - $ - $ - $ 35 $ - $ 35 Automobile Pass $ 95 $ 307 $ 680 $ 1,846 $ 3,146 $ 5,900 $ - $ - $ 11,974 Classified - 3 - - - - - - 3 Total $ 95 $ 310 $ 680 $ 1,846 $ 3,146 $ 5,900 $ - $ - $ 11,977 YTD gross charge-offs $ - $ - $ - $ 1 $ 38 $ - $ - $ - $ 39 Other consumer Pass $ 136 $ 380 $ 941 $ 2,273 $ 6,770 $ 11,206 $ 1,003 $ - $ 22,709 Classified - - - - 1 8 - - 9 Total $ 136 $ 380 $ 941 $ 2,273 $ 6,771 $ 11,214 $ 1,003 $ - $ 22,718 YTD gross charge-offs $ - $ - $ - $ 19 $ 42 $ 6 $ 63 $ - $ 130 Total Loans Pass $ 244,917 $ 48,664 $ 88,606 $ 191,928 $ 149,413 $ 69,006 $ 46,105 $ 120 $ 838,759 Special Mention 6,396 - - - - - - - 6,396 Classified 3,678 3 - 288 8 8 277 - 4,262 Total $ 254,991 $ 48,667 $ 88,606 $ 192,216 $ 149,421 $ 69,014 $ 46,382 $ 120 $ 849,417 YTD gross charge-offs $ - $ 11 $ 17 $ 20 $ 80 $ 6 $ 98 $ - $ 232 The following table presents the recorded investment by loan pool and credit quality as of December 31, 2022. December 31, 2022 Pass Special Mention Classified Real Estate Construction Construction, 1-4 family residential $ 12,538 $ - $ - Construction, other 41,741 - 300 Consumer Real Estate Equity lines 15,026 - - Residential closed-end first liens 122,187 - 461 Residential closed-end junior liens 2,446 - - Investor-owned residential real estate 80,143 - 603 Commercial Real Estate Multifamily residential real estate 127,312 - - Commercial real estate owner-occupied 126,550 - - Commercial real estate, other 181,443 - - Commercial Non Real Estate Commercial and industrial 57,381 - 8 Public Sector and IDA States and political subdivisions 48,074 - - Consumer Non-Real Estate Credit cards 4,597 - - Automobile 9,932 - 3 Other consumer 19,398 - 18 Total $ 848,768 $ - $ 1,393 Loan Modifications to Borrowers Experiencing Financial Difficulty The Company modifies loans for a variety of reasons. At the date of modification, the Company assesses whether the borrower is experiencing financial difficulty. If the borrower is experiencing financial difficulty, the loan’s risk rating is evaluated and is typically changed to special mention or classified, which results in individual evaluation of the loan for the ACLL. The Company modified one loan to a borrower experiencing financial difficulty during the nine September 30, 2023. three September 30, 2023. three nine September 30, 2022, The following table presents the amortized cost basis as of September 30, 2023 Interest Only Payments Amortized Cost Basis % of Portfolio Financial Effect Commercial Real Estate Commercial real estate owner-occupied $ 6,396 5.38 % 6 months of interest only payments, after which remaining balance will be re-amortized to the contractual maturity date. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty. The commercial real estate owner-occupied loan is in current status as of September 30, 2023. The Company analyzed its modified loan portfolio for loans that defaulted during the three nine September 30, 2023, 12 three one 90 September 30, 2023, none 12 ACL on Unfunded Commitments The following table presents the balance and activity in the ACL for unfunded commitments for the nine September 30, 2023: Allowance for Credit Losses on Unfunded Commitments Balance, December 31, 2022 $ 35 Adoption of ASU 2016-13 207 Provision for credit losses 21 Balance, September 30, 2023 $ 263 |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: The amortized cost and estimated fair value of securities available for sale along with gross unrealized gains and losses as of the dates indicated are summarized as follows: September 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Available for Sale: U.S. Treasuries $ 995 $ - $ 47 $ - $ 948 U.S. Government agencies and corporations 353,845 - 57,856 - 295,989 States and political subdivisions 179,672 - 42,603 - 137,069 Mortgage-backed securities 161,067 - 8,955 - 152,112 Corporate debt securities 6,504 - 1,070 - 5,434 Total securities available for sale $ 702,083 $ - $ 110,531 $ - $ 591,552 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale: U.S. Treasuries $ 992 $ - $ 56 $ 936 U.S. Government agencies and corporations 391,538 39 55,002 336,575 States and political subdivisions 190,192 26 38,018 152,200 Mortgage-backed securities 170,694 22 9,239 161,477 Corporate debt securities 6,501 - 837 5,664 Total securities available for sale $ 759,917 $ 87 $ 103,152 $ 656,852 No September 30, 2023. Accrued interest receivable on securities, included in accrued interest receivable on the Consolidated Balance Sheets, totaled $3,420 at September 30, 2023 December 31, 2022. The deferred tax asset for the net unrealized loss on securities available for sale was $23,211 as of September 30, 2023 December 31, 2022. The amortized cost and fair value of single maturity securities available for sale at September 30, 2023, may may September 30, 2023 Amortized Cost Fair Value Available for Sale: Due in one year or less $ 1,755 $ 1,730 Due after one year through five years 154,209 140,650 Due after five years through ten years 293,046 239,668 Due after ten years 253,073 209,504 Total securities available for sale $ 702,083 $ 591,552 Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that the individual securities have been in a continuous loss position, as of the dates indicated, follows. September 30, 2023 Less Than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasuries $ - $ - $ 948 $ 47 U.S. Government agencies and corporations - - 295,989 57,856 States and political subdivisions 845 41 135,979 42,562 Mortgage-backed securities 1,664 39 150,448 8,916 Corporate debt securities - - 5,434 1,070 Total temporarily impaired securities $ 2,509 $ 80 $ 588,798 $ 110,451 December 31, 2022 Less Than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasuries $ 936 $ 56 $ - $ - U.S. Government agencies and corporations 144,574 12,699 190,950 42,303 States and political subdivisions 94,657 18,373 52,134 19,645 Mortgage-backed securities 144,198 7,326 15,165 1,913 Corporate debt securities 4,843 655 821 182 Total temporarily impaired securities $ 389,208 $ 39,109 $ 259,070 $ 64,043 The Company evaluates securities available for sale that are in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to the extent to which the fair value is less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value. At September 30, 2023, No no September 30, 2023. not not not not Restricted Stock. The Company holds restricted stock that is reported separately from available for sale securities. As a member of the Federal Reserve and the Federal Home Loan Bank of Atlanta (“FHLB”), NBB is required to maintain certain minimum investments in the common stock of those entities. Required levels of investment are based upon NBB’s capital and a percentage of qualifying assets. The Company purchases stock from or sells stock back to the correspondents based on their calculations. The stock is held by member institutions only and is not Redemption of FHLB stock is subject to certain limitations and conditions. At its discretion, the FHLB may September 30, 2023. September 30, 2023, not |
Note 4 - Defined Benefit Plan
Note 4 - Defined Benefit Plan | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 4: The following tables present components of Net Periodic Benefit Cost for the periods indicated: Pension Benefits Three Months Ended September 30, 2023 2022 Service cost $ 203 $ 324 Interest cost 273 204 Expected return on plan assets (518 ) (629 ) Amortization of prior service cost - - Recognized net actuarial loss 17 110 Net periodic benefit (income) cost $ (25 ) $ 9 Pension Benefits Nine Months Ended September 30, 2023 2022 Service cost $ 609 $ 972 Interest cost 819 612 Expected return on plan assets (1,553 ) (1,887 ) Amortization of prior service cost - - Recognized net actuarial loss 52 330 Net periodic benefit (income) cost $ (73 ) $ 27 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 noninterest expense in the Consolidated Statements of Income. No 2023. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 5: 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. GAAP requires that valuation techniques maximize the use of the observable inputs and minimize the use of the unobservable inputs. GAAP also establishes a fair value hierarchy which prioritizes the valuation inputs into three one three Level 1 Level 2 ● 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 one Fair value is best determined by quoted market prices. However, in cases where quoted market prices are not may not may not 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 September 30, 2023 Fair Value Measurements Using Description Balance Level 1 Level 2 Level 3 U.S. Treasuries $ 948 $ - $ 948 $ - U.S. Government agencies and corporations 295,989 - 295,989 - States and political subdivisions 137,069 - 137,069 - Mortgage-backed securities 152,112 - 152,112 - Corporate debt securities 5,434 - 5,434 - Total securities available for sale $ 591,552 $ - $ 591,552 $ - December 31, 2022 Fair Value Measurements Using Description Balance Level 1 Level 2 Level 3 U.S. Treasuries $ 936 $ - $ 936 $ - U.S. Government agencies and corporations 336,575 - 336,575 - States and political subdivisions 152,200 - 152,200 - Mortgage-backed securities 161,477 - 161,477 - Corporate debt securities 5,664 - 5,664 - Total securities available for sale $ 656,852 $ - $ 656,852 $ - The Company’s securities portfolio is valued using Level 2 third two third 2 may 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 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 consolidated 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, 2023 December 31, 2022. Collateral Dependent Loans Loans that do not may zero For loans secured by real estate, fair value of collateral is determined by the “as-is” value of appraisals or third 24 2 may 3 The value of business equipment is based upon an outside appraisal (Level 2 3 not 3 As of September 30, 2023, one third 2 not December 31, 2022, not Other Real Estate Owned ( OREO ) Certain assets such as OREO are measured at fair value less cost to sell. Valuation of OREO is determined using current appraisals from independent parties, a Level 2 may 3 The following table summarizes the Company’s OREO that was measured at fair value on a nonrecurring basis as of the dates indicated. Date Description Balance Level 1 Level 2 Level 3 September 30, 2023 OREO, net of valuation allowance $ 662 $ - $ - $ 662 December 31, 2022 OREO, net of valuation allowance 662 - - 662 The following table presents information about OREO and Level 3 Date Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2023 Discounted appraised value Selling cost 7.00% September 30, 2023 Discounted appraised value Discount for lack of marketability 34.72% December 31, 2022 Discounted appraised value Selling cost 7.00% December 31, 2022 Discounted appraised value Discount for lack of marketability 34.72% At September 30, 2023 December 31, 2022, 2022, There is uncertainty in determining discounts to appraised value. If the final sale price is different from the list price, the amount of selling costs will also be different from those estimated. Future changes to marketability assumptions or updated appraisals may may Fair Value Summary The following presents the recorded amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of the dates indicated. Fair values are estimated using the exit price notion. September 30, 2023 Recorded Amount Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 13,089 $ 13,089 $ - $ - Interest-bearing deposits 40,353 40,353 - - Securities available for sale, at fair value 591,552 - 591,552 - Restricted securities 1,264 - 1,264 - Mortgage loans held for sale 82 - 82 - Loans, net 838,794 - - 792,126 Accrued interest receivable 6,180 - 6,180 - Bank-owned life insurance 43,327 - 43,327 - Financial Liabilities: Deposits $ 1,465,000 $ - $ 1,277,115 $ 186,480 Accrued interest payable 551 - 551 - December 31, 2022 Recorded Amount Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 12,403 $ 12,403 $ - $ - Interest-bearing deposits 59,026 59,026 - - Securities available for sale, at fair value 656,852 - 656,852 - Restricted securities 941 - 941 - Loans, net 844,519 - - 781,749 Accrued interest receivable 6,001 - 6,001 - Bank-owned life insurance 43,312 - 43,312 - Financial Liabilities: Deposits $ 1,542,725 $ - $ 1,475,096 $ 67,542 Accrued interest payable 106 - 106 - |
Note 6 - Components of Accumula
Note 6 - Components of Accumulated Other Comprehensive Loss | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 6: The following tables provide information about components of accumulated other comprehensive loss as of the dates indicated: Net Unrealized Loss on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Loss Balance at June 30, 2022 $ (55,865 ) $ (6,912 ) $ (62,777 ) Unrealized holding loss on available for sale securities, net of tax of ($ 7,822 (29,424 ) - (29,424 ) Balance at September 30, 2022 $ (85,289 ) $ (6,912 ) $ (92,201 ) Balance at June 30, 2023 $ (71,898 ) $ (2,345 ) $ (74,243 ) Unrealized holding loss on available for sale securities, net of tax of ($ 4,099 (15,421 ) - (15,421 ) Balance at September 30, 2023 $ (87,319 ) $ (2,345 ) $ (89,664 ) Net Unrealized Gain (Loss) on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Loss Balance at December 31, 2021 $ 2,854 $ (6,912 ) $ (4,058 ) Unrealized holding loss on available for sale securities, net of tax of ($ 23,431 (88,143 ) - (88,143 ) Balance at September 30, 2022 $ (85,289 ) $ (6,912 ) $ (92,201 ) Balance at December 31, 2022 $ (81,421 ) $ (2,345 ) $ (83,766 ) Unrealized holding loss on available for sale securities, net of tax of ($ 2,268 (8,530 ) - (8,530 ) Reclassification adjustment, net of tax of $ 700 2,632 - 2,632 Balance at September 30, 2023 $ (87,319 ) $ (2,345 ) $ (89,664 ) |
Note 7 - Revenue Recognition
Note 7 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 7: Substantially all of the Company’s revenue is generated 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 are recognized in accordance with Accounting Standards Codification (“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, 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 safe 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 and MasterCard. 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 estates 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. OREO Gains and Losses The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, Three Months Ended September 30, Noninterest Income 2023 2022 In-scope of Topic 606: Service charges on deposit accounts $ 642 $ 661 Other service charges and fees 151 51 Credit and debit card fees, net 395 448 Trust income 505 492 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 142 143 Noninterest Income (in-scope of Topic 606) $ 1,835 $ 1,795 Noninterest Income (out-of-scope of Topic 606) 280 345 Total noninterest income $ 2,115 $ 2,140 Nine Months Ended September 30, Noninterest Income 2023 2022 In-scope of Topic 606: Service charges on deposit accounts $ 1,871 $ 1,826 Other service charges and fees 253 157 Credit and debit card fees, net 1,276 1,423 Trust income 1,431 1,374 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 539 491 Noninterest Income (in-scope of Topic 606) $ 5,370 $ 5,271 Noninterest Income (out-of-scope of Topic 606) 1,735 1,272 Total noninterest income $ 7,105 $ 6,543 |
Note 8 - Leases
Note 8 - Leases | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 8: The Company’s leases are recorded under ASC Topic 842, 842, not 12 not Right-of-use assets and lease liabilities are recognized for operating and finance leases. Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. 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 not Options to Extend, Residual Value Guarantees, and Restrictions and Covenants Of the Company’s six September 30, 2023, four two five one two three one five 2020. not not not None none The contracts in which the Company is lessee are with parties external to the Company and not September 30, 2023 December 31, 2022 Lease liability $ 1,205 $ 1,444 Right-of-use asset $ 1,175 $ 1,415 Weighted average remaining lease term (in years) 4.58 5.14 Weighted average discount rate 3.29 % 3.29 % For the Three Months Ended September 30, Lease Expense 2023 2022 Operating lease expense $ 91 $ 84 Short-term lease expense 10 1 Total lease expense $ 101 $ 85 Cash paid for amounts included in lease liabilities $ 100 $ 83 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ - $ 79 For the Nine Months Ended September 30, Lease Expense 2023 2022 Operating lease expense $ 275 $ 238 Short-term lease expense 11 2 Total lease expense $ 286 $ 240 Cash paid for amounts included in lease liabilities $ 286 $ 239 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ - $ 104 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, 2023 Twelve months ending September 30, 2024 $ 351 Twelve months ending September 30, 2025 289 Twelve months ending September 30, 2026 219 Twelve months ending September 30, 2027 187 Twelve months ending September 30, 2028 189 Thereafter 64 Total undiscounted cash flows $ 1,299 Less: discount (94 ) Lease liability $ 1,205 The contracts in which the Company is lessee are not |
Note 9 - Stock Based Compensati
Note 9 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 9: The Company’s 2023 May 9, 2023. may March 10, 2023 8 June 7, 2023. Restricted Stock Awards Under the Plan, part of the June 2023 three September 30, 2023 Shares Weighted-Average Grant- Date Fair Value Nonvested at July 1, 2023 2,052 $ 30.70 Granted - - Nonvested at September 30, 2023 2,052 $ 30.70 The RSAs have a one three September 30, 2023 nine September 30, 2023. September 30, 2023, 8 |
Note 10 - Earnings Per Share
Note 10 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 10: The factors used in the earnings per share computation for the periods indicated are presented below: For the Three Months Ended September 30, 2023 2022 $ in thousands, except per share amounts Net Income (Numerator) Common Shares 1 (Denominator) Per Share Net Income (Numerator) Common Shares 1 (Denominator) Per Share Basic earnings per share $ 3,074 5,889,687 $ 0.52 $ 6,162 5,974,961 $ 1.03 Dilutive shares for restricted stock awards: 252 - Diluted earnings per share $ 3,074 5,889,939 $ 0.52 $ 6,162 5,974,961 $ 1.03 For the Nine Months Ended September 30, 2023 2022 $ in thousands, except per share amounts Net Income (Numerator) Common Shares 1 (Denominator) Per Share Net Income (Numerator) Common Shares 1 (Denominator) Per Share Basic earnings per share $ 11,506 5,889,687 $ 1.95 $ 16,622 6,008,607 $ 2.77 Dilutive shares for restricted stock awards: 91 - Diluted earnings per share $ 11,506 5,889,778 $ 1.95 $ 16,622 6,008,607 $ 2.77 ( 1 Weighted average outstanding RSA grants are disregarded in the computation of diluted earnings per share if they are determined to be anti-dilutive. There were no three nine September 30, 2023. |
Note 2 - Loans and Allowance _2
Note 2 - Loans and Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2023 December 31, 2022 Real estate construction $ 64,181 $ 54,579 Consumer real estate 226,671 221,052 Commercial real estate 424,765 437,888 Commercial non real estate 42,940 57,652 Public sector and IDA 51,591 48,074 Consumer non real estate 39,269 33,948 Gross loans 849,417 853,193 Less unearned income and deferred fees and costs (442 ) (449 ) Loans, net of unearned income and deferred fees and costs $ 848,975 $ 852,744 Allowance for credit losses on loans (10,181 ) (8,225 ) Total loans, net $ 838,794 $ 844,519 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2023 Accruing Current Loans Accruing Loans 30 89 Days Past Due Accruing Loans 90 or More Days Past Due Nonaccrual Loans Total Loans Accruing and Nonaccrual 90 or More Days Past Due Real Estate Construction Construction, 1-4 family residential $ 16,995 $ - $ - $ - $ 16,995 $ - Construction, other 47,165 21 - - 47,186 - Consumer Real Estate Equity line 16,631 23 - - 16,654 - Residential closed-end first liens 122,839 679 7 85 123,610 92 Residential closed-end junior liens 5,009 13 - - 5,022 - Investor-owned residential real estate 81,385 - - - 81,385 - Commercial Real Estate Multifamily residential real estate 133,188 - - - 133,188 - Commercial real estate owner-occupied 116,089 288 - 2,429 118,806 236 Commercial real estate, other 172,771 - - - 172,771 - Commercial Non Real Estate Commercial and industrial 42,452 4 17 467 42,940 252 Public Sector and IDA States and political subdivisions 51,591 - - - 51,591 - Consumer Non-Real Estate Credit cards 4,570 4 - - 4,574 - Automobile 11,933 42 2 - 11,977 3 Other consumer loans 22,615 98 5 - 22,718 5 Total $ 845,233 $ 1,172 $ 31 $ 2,981 $ 849,417 $ 588 December 31, 2022 Accruing Current Loans Accruing Loans 30 89 Days Past Due Accruing Loans 90 or More Days Past Due Nonaccrual Loans Total Loans Accruing and Nonaccrual 90 or More Days Past Due Real Estate Construction Construction, 1-4 family residential $ 12,538 $ - $ - $ - $ 12,538 $ - Construction, other 42,041 - - - 42,041 - Consumer Real Estate Equity line 15,010 16 - - 15,026 - Residential closed-end first liens 121,807 750 - 91 122,648 91 Residential closed-end junior liens 2,446 - - - 2,446 - Investor-owned residential real estate 80,524 408 - - 80,932 - Commercial Real Estate Multifamily residential real estate 127,312 - - - 127,312 - Commercial real estate owner-occupied 126,640 - - 2,493 129,133 252 Commercial real estate, other 181,443 - - - 181,443 - Commercial Non Real Estate Commercial and industrial 57,373 16 - 263 57,652 - Public Sector and IDA States and political subdivisions 48,074 - - - 48,074 - Consumer Non-Real Estate Credit cards 4,592 3 2 - 4,597 2 Automobile 9,833 102 - - 9,935 - Other consumer loans 19,317 93 6 - 19,416 6 Total $ 848,950 $ 1,388 $ 8 $ 2,847 $ 853,193 $ 351 CECL Incurred Loss September 30, 2023 December 31, 2022 Nonaccrual Loans Nonaccrual Loans With No Allowance With an Allowance Total Consumer Real Estate Residential closed-end first liens $ - $ 85 $ 85 $ 91 Commercial Real Estate Commercial real estate owner-occupied - 2,429 2,429 2,493 Commercial Non Real Estate Commercial and industrial - 467 467 263 Total $ - $ 2,981 $ 2,981 $ 2,847 |
Summary of Past Due 90 Days Loans or More and Impaired Loans [Table Text Block] | September 30, December 31, 2023 2022 2022 Ratio of ACLL to nonaccrual loans 341.53 % 284.18 % 288.90 % Ratio of loans past due 90 days or more and still accruing to loans, net of unearned income and deferred fees and costs 0.00 % 0.01 % 0.00 % |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Activity in the Allowance for Credit Losses on Loans for the Nine Months Ended September 30, 2023 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Balance, December 31, 2022 $ 450 $ 2,199 $ 3,642 $ 930 $ 319 $ 506 $ 179 $ 8,225 Adoption of ASU 2016-13 (21 ) 1,261 700 216 (15 ) 72 129 2,342 Charge-offs - (17 ) - (11 ) - (204 ) - (232 ) Recoveries - 103 37 4 - 91 - 235 Provision for (recovery of) credit losses 133 (353 ) (212 ) (300 ) 10 156 177 (389 ) Balance, September 30, 2023 $ 562 $ 3,193 $ 4,167 $ 839 $ 314 $ 621 $ 485 $ 10,181 Activity in the Allowance for Loan Losses for the Nine Months Ended September 30, 2022 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Balance, December 31, 2021 $ 422 $ 1,930 $ 3,121 $ 1,099 $ 297 $ 444 $ 361 $ 7,674 Charge-offs - (13 ) - (2 ) - (301 ) - (316 ) Recoveries - 29 36 10 - 78 - 153 Provision for (recovery of) loan losses 225 266 452 (329 ) 39 263 (220 ) 696 Balance, September 30, 2022 $ 647 $ 2,212 $ 3,609 $ 778 $ 336 $ 484 $ 141 $ 8,207 Activity in the Allowance for Loan Losses for the Year Ended December 31, 2022 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Unallocated Total Balance, December 31, 2021 $ 422 $ 1,930 $ 3,121 $ 1,099 $ 297 $ 444 $ 361 $ 7,674 Charge-offs - (13 ) - (2 ) - (352 ) - (367 ) Recoveries - 29 49 11 - 123 - 212 Provision for (recovery of) loan losses 28 253 472 (178 ) 22 291 (182 ) 706 Balance, December 31, 2022 $ 450 $ 2,199 $ 3,642 $ 930 $ 319 $ 506 $ 179 $ 8,225 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Allowance for Credit Losses on Loans as of September 30, 2023 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 $ - $ 78 $ 548 $ 248 $ - $ 1 $ - $ 875 Collectively evaluated 562 3,115 3,619 591 314 620 485 9,306 Total $ 562 $ 3,193 $ 4,167 $ 839 $ 314 $ 621 $ 485 $ 10,181 Allowance for Loan Losses as of December 31, 2022 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 $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated 450 2,199 3,642 930 319 506 179 8,225 Total $ 450 $ 2,199 $ 3,642 $ 930 $ 319 $ 506 $ 179 $ 8,225 Loans as of September 30, 2023 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non Real Estate Total Individually evaluated $ 288 $ 1,059 $ 8,826 $ 473 $ - $ 12 $ 10,658 Collectively evaluated 63,893 225,612 415,939 42,467 51,591 39,257 838,759 Total $ 64,181 $ 226,671 $ 424,765 $ 42,940 $ 51,591 $ 39,269 $ 849,417 Loans as of December 31, 2022 Real Estate Construction Consumer Real Estate Commercial Real Estate Commercial Non Real Estate Public Sector and IDA Consumer Non- Real Estate Total Individually evaluated $ - $ 186 $ 2,583 $ 263 $ - $ - $ 3,032 Collectively evaluated 54,579 220,866 435,305 57,389 48,074 33,948 850,161 Total $ 54,579 $ 221,052 $ 437,888 $ 57,652 $ 48,074 $ 33,948 $ 853,193 |
Schedule of Ratios for Allowance for Loan Losses [Table Text Block] | As of and for the Nine Months Ended September 30, Year Ended December 31, 2023 2022 2022 Ratio of ACLL to the end of period loans, net of unearned income and deferred fees and costs 1.20 % 0.96 % 0.96 % Ratio of net charge-offs, annualized, to average loans, net of unearned income and deferred fees and costs 0.00 % 0.03 % 0.02 % |
Impaired Financing Receivables [Table Text Block] | Individually Evaluated Loans under Incurred Loss as of December 31, 2022 Principal Balance Recorded Investment (1) Recorded Investment (1) for Which There is No Related Allowance Recorded Investment (1) for Which There is a Related Allowance Related Allowance Consumer Real Estate Investor-owned residential real estate $ 186 $ 186 $ 186 $ - $ - Commercial Real Estate Commercial real estate, owner occupied 3,248 2,583 2,583 - - Commercial Non Real Estate Commercial and industrial 285 263 263 - - Total $ 3,719 $ 3,032 $ 3,032 $ - $ - |
Impaired Financing Receivable Average Investment And Interest Income [Table Text Block] | For the Nine Months Ended September 30, 2022 Average Recorded Investment (1) Interest Income Recognized Consumer Real Estate Investor-owned residential real estate $ 189 $ 9 Commercial Real Estate Commercial real estate, owner occupied 2,601 4 Commercial Non-Real Estate Commercial and industrial 277 - Total $ 3,067 $ 13 |
Financing Receivable, Collateral Dependent Loan [Table Text Block] | September 30, 2023 Balance Related Allowance Consumer Real Estate Residential closed-end first lien $ 7 - Total Loans $ 7 - |
Financing Receivable Credit Quality Indicators [Table Text Block] | Term Loans Amortized Cost Basis by Origination Year Revolving Loans September 30, 2023 Prior 2019 2020 2021 2022 2023 Revolving Converted to Term Total Construction, residential Pass $ - $ - $ 233 $ 121 $ 3,787 $ 2,705 $ 10,149 $ - $ 16,995 Construction, other Pass $ 3,196 $ 1,111 $ 1,411 $ 23,163 $ 11,577 $ 4,375 $ 2,065 $ - $ 46,898 Classified - - - 288 - - - - 288 Total $ 3,196 $ 1,111 $ 1,411 $ 23,451 $ 11,577 $ 4,375 $ 2,065 $ - $ 47,186 Equity lines Pass $ 53 $ - $ - $ - $ - $ - $ 16,553 $ 6 $ 16,612 Classified - - - - - - 42 - 42 Total $ 53 $ - $ - $ - $ - $ - $ 16,595 $ 6 $ 16,654 Residential closed-end first liens Pass $ 33,129 $ 5,874 $ 14,784 $ 32,074 $ 28,768 $ 8,681 $ - $ - $ 123,310 Classified 300 - - - - - - - 300 Total $ 33,429 $ 5,874 $ 14,784 $ 32,074 $ 28,768 $ 8,681 $ - $ - $ 123,610 YTD gross charge-offs $ - $ - $ 17 $ - $ - $ - $ - $ - $ 17 Residential closed-end junior liens Pass $ 1,749 $ 118 $ - $ 175 $ 1,395 $ 1,570 $ - $ 15 $ 5,022 Investor-owned residential real estate Pass $ 23,141 $ 5,215 $ 14,348 $ 19,475 $ 13,888 $ 3,093 $ 1,409 $ 99 $ 80,668 Classified 717 - - - - - - - 717 Total $ 23,858 $ 5,215 $ 14,348 $ 19,475 $ 13,888 $ 3,093 $ 1,409 $ 99 $ 81,385 Multifamily residential real estate Pass $ 42,874 $ 1,823 $ 11,820 $ 40,944 $ 26,874 $ 8,853 $ - $ - $ 133,188 Commercial real estate, owner occupied Pass $ 43,438 $ 11,295 $ 23,661 $ 4,843 $ 16,731 $ 7,757 $ 2,255 $ - $ 109,980 Special mention 6,396 - - - - - - - 6,396 Classified 2,430 - - - - - - - 2,430 Total $ 52,264 $ 11,295 $ 23,661 $ 4,843 $ 16,731 $ 7,757 $ 2,255 $ - $ 118,806 Commercial real estate, other Pass $ 70,064 $ 22,033 $ 19,300 $ 36,272 $ 22,600 $ 1,957 $ 545 $ - $ 172,771 Commercial and industrial Pass $ 6,100 $ 494 $ 1,189 $ 13,059 $ 7,439 $ 6,634 $ 7,552 $ - $ 42,467 Classified 231 - - - 7 - 235 - 473 Total $ 6,331 $ 494 $ 1,189 $ 13,059 $ 7,446 $ 6,634 $ 7,787 $ - $ 42,940 YTD gross charge-offs $ - $ 11 $ - $ - $ - $ - $ - $ - $ 11 Public sector and IDA Pass $ 20,942 $ 14 $ 239 $ 17,683 $ 6,438 $ 6,275 $ - $ - $ 51,591 Credit cards Pass $ - $ - $ - $ - $ - $ - $ 4,574 $ - $ 4,574 YTD gross charge-offs $ - $ - $ - $ - $ - $ - $ 35 $ - $ 35 Automobile Pass $ 95 $ 307 $ 680 $ 1,846 $ 3,146 $ 5,900 $ - $ - $ 11,974 Classified - 3 - - - - - - 3 Total $ 95 $ 310 $ 680 $ 1,846 $ 3,146 $ 5,900 $ - $ - $ 11,977 YTD gross charge-offs $ - $ - $ - $ 1 $ 38 $ - $ - $ - $ 39 Other consumer Pass $ 136 $ 380 $ 941 $ 2,273 $ 6,770 $ 11,206 $ 1,003 $ - $ 22,709 Classified - - - - 1 8 - - 9 Total $ 136 $ 380 $ 941 $ 2,273 $ 6,771 $ 11,214 $ 1,003 $ - $ 22,718 YTD gross charge-offs $ - $ - $ - $ 19 $ 42 $ 6 $ 63 $ - $ 130 Total Loans Pass $ 244,917 $ 48,664 $ 88,606 $ 191,928 $ 149,413 $ 69,006 $ 46,105 $ 120 $ 838,759 Special Mention 6,396 - - - - - - - 6,396 Classified 3,678 3 - 288 8 8 277 - 4,262 Total $ 254,991 $ 48,667 $ 88,606 $ 192,216 $ 149,421 $ 69,014 $ 46,382 $ 120 $ 849,417 YTD gross charge-offs $ - $ 11 $ 17 $ 20 $ 80 $ 6 $ 98 $ - $ 232 December 31, 2022 Pass Special Mention Classified Real Estate Construction Construction, 1-4 family residential $ 12,538 $ - $ - Construction, other 41,741 - 300 Consumer Real Estate Equity lines 15,026 - - Residential closed-end first liens 122,187 - 461 Residential closed-end junior liens 2,446 - - Investor-owned residential real estate 80,143 - 603 Commercial Real Estate Multifamily residential real estate 127,312 - - Commercial real estate owner-occupied 126,550 - - Commercial real estate, other 181,443 - - Commercial Non Real Estate Commercial and industrial 57,381 - 8 Public Sector and IDA States and political subdivisions 48,074 - - Consumer Non-Real Estate Credit cards 4,597 - - Automobile 9,932 - 3 Other consumer 19,398 - 18 Total $ 848,768 $ - $ 1,393 |
Financing Receivable, Modified [Table Text Block] | Interest Only Payments Amortized Cost Basis % of Portfolio Financial Effect Commercial Real Estate Commercial real estate owner-occupied $ 6,396 5.38 % 6 months of interest only payments, after which remaining balance will be re-amortized to the contractual maturity date. |
Unfunded Loan Commitment [Member] | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for Credit Losses on Unfunded Commitments Balance, December 31, 2022 $ 35 Adoption of ASU 2016-13 207 Provision for credit losses 21 Balance, September 30, 2023 $ 263 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Debt Securities, Available-for-Sale [Table Text Block] | September 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Available for Sale: U.S. Treasuries $ 995 $ - $ 47 $ - $ 948 U.S. Government agencies and corporations 353,845 - 57,856 - 295,989 States and political subdivisions 179,672 - 42,603 - 137,069 Mortgage-backed securities 161,067 - 8,955 - 152,112 Corporate debt securities 6,504 - 1,070 - 5,434 Total securities available for sale $ 702,083 $ - $ 110,531 $ - $ 591,552 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale: U.S. Treasuries $ 992 $ - $ 56 $ 936 U.S. Government agencies and corporations 391,538 39 55,002 336,575 States and political subdivisions 190,192 26 38,018 152,200 Mortgage-backed securities 170,694 22 9,239 161,477 Corporate debt securities 6,501 - 837 5,664 Total securities available for sale $ 759,917 $ 87 $ 103,152 $ 656,852 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2023 Amortized Cost Fair Value Available for Sale: Due in one year or less $ 1,755 $ 1,730 Due after one year through five years 154,209 140,650 Due after five years through ten years 293,046 239,668 Due after ten years 253,073 209,504 Total securities available for sale $ 702,083 $ 591,552 |
Schedule of Temporary Impairment Losses, Investments [Table Text Block] | September 30, 2023 Less Than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasuries $ - $ - $ 948 $ 47 U.S. Government agencies and corporations - - 295,989 57,856 States and political subdivisions 845 41 135,979 42,562 Mortgage-backed securities 1,664 39 150,448 8,916 Corporate debt securities - - 5,434 1,070 Total temporarily impaired securities $ 2,509 $ 80 $ 588,798 $ 110,451 December 31, 2022 Less Than 12 Months 12 Months or More Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasuries $ 936 $ 56 $ - $ - U.S. Government agencies and corporations 144,574 12,699 190,950 42,303 States and political subdivisions 94,657 18,373 52,134 19,645 Mortgage-backed securities 144,198 7,326 15,165 1,913 Corporate debt securities 4,843 655 821 182 Total temporarily impaired securities $ 389,208 $ 39,109 $ 259,070 $ 64,043 |
Note 4 - Defined Benefit Plan (
Note 4 - Defined Benefit Plan (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Pension Benefits Three Months Ended September 30, 2023 2022 Service cost $ 203 $ 324 Interest cost 273 204 Expected return on plan assets (518 ) (629 ) Amortization of prior service cost - - Recognized net actuarial loss 17 110 Net periodic benefit (income) cost $ (25 ) $ 9 Pension Benefits Nine Months Ended September 30, 2023 2022 Service cost $ 609 $ 972 Interest cost 819 612 Expected return on plan assets (1,553 ) (1,887 ) Amortization of prior service cost - - Recognized net actuarial loss 52 330 Net periodic benefit (income) cost $ (73 ) $ 27 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2023 Fair Value Measurements Using Description Balance Level 1 Level 2 Level 3 U.S. Treasuries $ 948 $ - $ 948 $ - U.S. Government agencies and corporations 295,989 - 295,989 - States and political subdivisions 137,069 - 137,069 - Mortgage-backed securities 152,112 - 152,112 - Corporate debt securities 5,434 - 5,434 - Total securities available for sale $ 591,552 $ - $ 591,552 $ - December 31, 2022 Fair Value Measurements Using Description Balance Level 1 Level 2 Level 3 U.S. Treasuries $ 936 $ - $ 936 $ - U.S. Government agencies and corporations 336,575 - 336,575 - States and political subdivisions 152,200 - 152,200 - Mortgage-backed securities 161,477 - 161,477 - Corporate debt securities 5,664 - 5,664 - Total securities available for sale $ 656,852 $ - $ 656,852 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Date Description Balance Level 1 Level 2 Level 3 September 30, 2023 OREO, net of valuation allowance $ 662 $ - $ - $ 662 December 31, 2022 OREO, net of valuation allowance 662 - - 662 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Date Valuation Technique Unobservable Input Range (Weighted Average) September 30, 2023 Discounted appraised value Selling cost 7.00% September 30, 2023 Discounted appraised value Discount for lack of marketability 34.72% December 31, 2022 Discounted appraised value Selling cost 7.00% December 31, 2022 Discounted appraised value Discount for lack of marketability 34.72% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2023 Recorded Amount Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 13,089 $ 13,089 $ - $ - Interest-bearing deposits 40,353 40,353 - - Securities available for sale, at fair value 591,552 - 591,552 - Restricted securities 1,264 - 1,264 - Mortgage loans held for sale 82 - 82 - Loans, net 838,794 - - 792,126 Accrued interest receivable 6,180 - 6,180 - Bank-owned life insurance 43,327 - 43,327 - Financial Liabilities: Deposits $ 1,465,000 $ - $ 1,277,115 $ 186,480 Accrued interest payable 551 - 551 - December 31, 2022 Recorded Amount Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 12,403 $ 12,403 $ - $ - Interest-bearing deposits 59,026 59,026 - - Securities available for sale, at fair value 656,852 - 656,852 - Restricted securities 941 - 941 - Loans, net 844,519 - - 781,749 Accrued interest receivable 6,001 - 6,001 - Bank-owned life insurance 43,312 - 43,312 - Financial Liabilities: Deposits $ 1,542,725 $ - $ 1,475,096 $ 67,542 Accrued interest payable 106 - 106 - |
Note 6 - Components of Accumu_2
Note 6 - Components of Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Net Unrealized Loss on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Loss Balance at June 30, 2022 $ (55,865 ) $ (6,912 ) $ (62,777 ) Unrealized holding loss on available for sale securities, net of tax of ($ 7,822 (29,424 ) - (29,424 ) Balance at September 30, 2022 $ (85,289 ) $ (6,912 ) $ (92,201 ) Balance at June 30, 2023 $ (71,898 ) $ (2,345 ) $ (74,243 ) Unrealized holding loss on available for sale securities, net of tax of ($ 4,099 (15,421 ) - (15,421 ) Balance at September 30, 2023 $ (87,319 ) $ (2,345 ) $ (89,664 ) Net Unrealized Gain (Loss) on Securities Adjustments Related to Pension Benefits Accumulated Other Comprehensive Loss Balance at December 31, 2021 $ 2,854 $ (6,912 ) $ (4,058 ) Unrealized holding loss on available for sale securities, net of tax of ($ 23,431 (88,143 ) - (88,143 ) Balance at September 30, 2022 $ (85,289 ) $ (6,912 ) $ (92,201 ) Balance at December 31, 2022 $ (81,421 ) $ (2,345 ) $ (83,766 ) Unrealized holding loss on available for sale securities, net of tax of ($ 2,268 (8,530 ) - (8,530 ) Reclassification adjustment, net of tax of $ 700 2,632 - 2,632 Balance at September 30, 2023 $ (87,319 ) $ (2,345 ) $ (89,664 ) |
Note 7 - Revenue Recognition (T
Note 7 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, Noninterest Income 2023 2022 In-scope of Topic 606: Service charges on deposit accounts $ 642 $ 661 Other service charges and fees 151 51 Credit and debit card fees, net 395 448 Trust income 505 492 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 142 143 Noninterest Income (in-scope of Topic 606) $ 1,835 $ 1,795 Noninterest Income (out-of-scope of Topic 606) 280 345 Total noninterest income $ 2,115 $ 2,140 Nine Months Ended September 30, Noninterest Income 2023 2022 In-scope of Topic 606: Service charges on deposit accounts $ 1,871 $ 1,826 Other service charges and fees 253 157 Credit and debit card fees, net 1,276 1,423 Trust income 1,431 1,374 Insurance and Investment (included within Other Income on the Consolidated Statements of Income) 539 491 Noninterest Income (in-scope of Topic 606) $ 5,370 $ 5,271 Noninterest Income (out-of-scope of Topic 606) 1,735 1,272 Total noninterest income $ 7,105 $ 6,543 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | September 30, 2023 December 31, 2022 Lease liability $ 1,205 $ 1,444 Right-of-use asset $ 1,175 $ 1,415 Weighted average remaining lease term (in years) 4.58 5.14 Weighted average discount rate 3.29 % 3.29 % For the Three Months Ended September 30, Lease Expense 2023 2022 Operating lease expense $ 91 $ 84 Short-term lease expense 10 1 Total lease expense $ 101 $ 85 Cash paid for amounts included in lease liabilities $ 100 $ 83 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ - $ 79 For the Nine Months Ended September 30, Lease Expense 2023 2022 Operating lease expense $ 275 $ 238 Short-term lease expense 11 2 Total lease expense $ 286 $ 240 Cash paid for amounts included in lease liabilities $ 286 $ 239 Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period $ - $ 104 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Undiscounted Cash Flow for the Period As of September 30, 2023 Twelve months ending September 30, 2024 $ 351 Twelve months ending September 30, 2025 289 Twelve months ending September 30, 2026 219 Twelve months ending September 30, 2027 187 Twelve months ending September 30, 2028 189 Thereafter 64 Total undiscounted cash flows $ 1,299 Less: discount (94 ) Lease liability $ 1,205 |
Note 9 - Stock Based Compensa_2
Note 9 - Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Nonvested Share Activity [Table Text Block] | Shares Weighted-Average Grant- Date Fair Value Nonvested at July 1, 2023 2,052 $ 30.70 Granted - - Nonvested at September 30, 2023 2,052 $ 30.70 |
Note 10 - Earnings Per Share (T
Note 10 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended September 30, 2023 2022 $ in thousands, except per share amounts Net Income (Numerator) Common Shares 1 (Denominator) Per Share Net Income (Numerator) Common Shares 1 (Denominator) Per Share Basic earnings per share $ 3,074 5,889,687 $ 0.52 $ 6,162 5,974,961 $ 1.03 Dilutive shares for restricted stock awards: 252 - Diluted earnings per share $ 3,074 5,889,939 $ 0.52 $ 6,162 5,974,961 $ 1.03 For the Nine Months Ended September 30, 2023 2022 $ in thousands, except per share amounts Net Income (Numerator) Common Shares 1 (Denominator) Per Share Net Income (Numerator) Common Shares 1 (Denominator) Per Share Basic earnings per share $ 11,506 5,889,687 $ 1.95 $ 16,622 6,008,607 $ 2.77 Dilutive shares for restricted stock awards: 91 - Diluted earnings per share $ 11,506 5,889,778 $ 1.95 $ 16,622 6,008,607 $ 2.77 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Retained Earnings (Accumulated Deficit) | $ 198,394 | $ 199,091 | |||
Financing Receivable, Allowance for Credit Loss | 10,181 | 8,225 | $ 8,207 | $ 7,674 | |
Unfunded Loan Commitment [Member] | |||||
Financing Receivable, Allowance for Credit Loss | $ 263 | 35 | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Retained Earnings (Accumulated Deficit) | $ 2,014 | ||||
Financing Receivable, Allowance for Credit Loss | 10,567 | 2,342 | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | |||||
Financing Receivable, Allowance for Credit Loss | 242 | $ 207 | |||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Previously Reported [Member] | |||||
Financing Receivable, Allowance for Credit Loss | 8,225 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Previously Reported [Member] | Unfunded Loan Commitment [Member] | |||||
Financing Receivable, Allowance for Credit Loss | $ 35 |
Note 2 - Loans and Allowance _3
Note 2 - Loans and Allowance for Credit Losses (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 | Sep. 30, 2023 USD ($) | Sep. 30, 2022 | Dec. 31, 2022 USD ($) | |
Financing Receivable, Accrued Interest, before Allowance for Credit Loss | $ 2,760 | $ 2,760 | $ 2,516 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 1 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 |
Note 2 - Loans and Allowance _4
Note 2 - Loans and Allowance for Credit Losses - Loan Portfolio, Excluding Loans Held for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Gross loans | $ 849,417 | $ 853,193 | ||
Less unearned income and deferred fees and costs | (442) | (449) | ||
Loans, net of unearned income and deferred fees and costs | 848,975 | 852,744 | ||
Allowance for credit losses on loans | (10,181) | (8,225) | $ (8,207) | $ (7,674) |
Total loans, net | 838,794 | 844,519 | ||
Real Estate Construction Portfolio Segment[Member] | ||||
Gross loans | 64,181 | 54,579 | ||
Allowance for credit losses on loans | (562) | (450) | (647) | (422) |
Consumer Real Estate Portfolio Segment [Member] | ||||
Gross loans | 226,671 | 221,052 | ||
Allowance for credit losses on loans | (3,193) | (2,199) | (2,212) | (1,930) |
Commercial Real Estate Portfolio Segment [Member] | ||||
Gross loans | 424,765 | 437,888 | ||
Allowance for credit losses on loans | (4,167) | (3,642) | (3,609) | (3,121) |
Commercial Non Real Estate Segment [Member] | ||||
Gross loans | 42,940 | 57,652 | ||
Allowance for credit losses on loans | (839) | (930) | (778) | (1,099) |
Public Sector and IDA Portfolio Segment[Member] | ||||
Gross loans | 51,591 | 48,074 | ||
Allowance for credit losses on loans | (314) | (319) | (336) | (297) |
Consumer Non Real Estate Portfolio Segment [Member] | ||||
Gross loans | 39,269 | 33,948 | ||
Allowance for credit losses on loans | $ (621) | $ (506) | $ (484) | $ (444) |
Note 2 - Loans and Allowance _5
Note 2 - Loans and Allowance for Credit Losses - Past Due and Nonaccrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Gross loans | $ 849,417 | $ 853,193 | |
Loans 90 or more days past due and accruing | 31 | 8 | |
Nonaccruals | 2,981 | 2,847 | |
Loans, gross | 849,417 | 853,193 | |
Nonaccruals, no allowance | 0 | ||
Nonaccruals, with allowance | 2,981 | ||
Financial Asset, Not Past Due [Member] | |||
Gross loans | 845,233 | 848,950 | |
Loans, gross | 845,233 | 848,950 | |
Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 1,172 | 1,388 |
Loans, gross | [1] | 1,172 | 1,388 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 588 | 351 | |
Loans, gross | 588 | 351 | |
Real Estate Construction Portfolio Segment[Member] | |||
Gross loans | 64,181 | 54,579 | |
Loans, gross | 64,181 | 54,579 | |
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | |||
Gross loans | 16,995 | 12,538 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 16,995 | 12,538 | |
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 16,995 | 12,538 | |
Loans, gross | 16,995 | 12,538 | |
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | |||
Gross loans | 47,186 | 42,041 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 47,186 | 42,041 | |
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 47,165 | 42,041 | |
Loans, gross | 47,165 | 42,041 | |
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 21 | 0 |
Loans, gross | [1] | 21 | 0 |
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Real Estate Construction Portfolio Segment[Member] | Equity Lines [Member] | |||
Gross loans | 16,654 | ||
Loans, gross | 16,654 | ||
Consumer Real Estate Portfolio Segment [Member] | |||
Gross loans | 226,671 | 221,052 | |
Loans, gross | 226,671 | 221,052 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | |||
Gross loans | 123,610 | 122,648 | |
Loans 90 or more days past due and accruing | 7 | 0 | |
Nonaccruals | 85 | 91 | |
Loans, gross | 123,610 | 122,648 | |
Nonaccruals, no allowance | 0 | ||
Nonaccruals, with allowance | 85 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 122,839 | 121,807 | |
Loans, gross | 122,839 | 121,807 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 679 | 750 |
Loans, gross | [1] | 679 | 750 |
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 92 | 91 | |
Loans, gross | 92 | 91 | |
Consumer Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | |||
Gross loans | 118,806 | ||
Loans, gross | 118,806 | ||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | |||
Gross loans | 16,654 | 15,026 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 16,654 | 15,026 | |
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 16,631 | 15,010 | |
Loans, gross | 16,631 | 15,010 | |
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | 23 | 16 | |
Loans, gross | 23 | 16 | |
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | |||
Gross loans | 5,022 | 2,446 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 5,022 | 2,446 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 5,009 | 2,446 | |
Loans, gross | 5,009 | 2,446 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | 13 | 0 | |
Loans, gross | 13 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | |||
Gross loans | 81,385 | 80,932 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 81,385 | 80,932 | |
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 81,385 | 80,524 | |
Loans, gross | 81,385 | 80,524 | |
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 0 | 408 |
Loans, gross | [1] | 0 | 408 |
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Gross loans | 424,765 | 437,888 | |
Loans, gross | 424,765 | 437,888 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | |||
Gross loans | 118,806 | 129,133 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 2,429 | 2,493 | |
Loans, gross | 118,806 | 129,133 | |
Nonaccruals, no allowance | 0 | ||
Nonaccruals, with allowance | 2,429 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 116,089 | 126,640 | |
Loans, gross | 116,089 | 126,640 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 288 | 0 |
Loans, gross | [1] | 288 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 236 | 252 | |
Loans, gross | 236 | 252 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | |||
Gross loans | 133,188 | 127,312 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 133,188 | 127,312 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 133,188 | 127,312 | |
Loans, gross | 133,188 | 127,312 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | |||
Gross loans | 172,771 | 181,443 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 172,771 | 181,443 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 172,771 | 181,443 | |
Loans, gross | 172,771 | 181,443 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Commercial Non Real Estate Segment [Member] | |||
Gross loans | 42,940 | 57,652 | |
Loans, gross | 42,940 | 57,652 | |
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | |||
Gross loans | 42,940 | 57,652 | |
Loans 90 or more days past due and accruing | 17 | 0 | |
Nonaccruals | 467 | 263 | |
Loans, gross | 42,940 | 57,652 | |
Nonaccruals, no allowance | 0 | ||
Nonaccruals, with allowance | 467 | ||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 42,452 | 57,373 | |
Loans, gross | 42,452 | 57,373 | |
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 4 | 16 |
Loans, gross | [1] | 4 | 16 |
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 252 | 0 | |
Loans, gross | 252 | 0 | |
Public Sector and IDA Portfolio Segment[Member] | |||
Gross loans | 51,591 | 48,074 | |
Loans 90 or more days past due and accruing | 0 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 51,591 | 48,074 | |
Public Sector and IDA Portfolio Segment[Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 51,591 | 48,074 | |
Loans, gross | 51,591 | 48,074 | |
Public Sector and IDA Portfolio Segment[Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Public Sector and IDA Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 0 | |
Loans, gross | 0 | 0 | |
Consumer Non Real Estate Portfolio Segment [Member] | |||
Gross loans | 39,269 | 33,948 | |
Loans, gross | 39,269 | 33,948 | |
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Gross loans | 4,574 | 4,597 | |
Loans 90 or more days past due and accruing | 0 | 2 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 4,574 | 4,597 | |
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 4,570 | 4,592 | |
Loans, gross | 4,570 | 4,592 | |
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 4 | 3 |
Loans, gross | [1] | 4 | 3 |
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 0 | 2 | |
Loans, gross | 0 | 2 | |
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | |||
Gross loans | 11,977 | 9,935 | |
Loans 90 or more days past due and accruing | 2 | 0 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 11,977 | 9,935 | |
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 11,933 | 9,833 | |
Loans, gross | 11,933 | 9,833 | |
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 42 | 102 |
Loans, gross | [1] | 42 | 102 |
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 3 | 0 | |
Loans, gross | 3 | 0 | |
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | |||
Gross loans | 22,718 | 19,416 | |
Loans 90 or more days past due and accruing | 5 | 6 | |
Nonaccruals | 0 | 0 | |
Loans, gross | 22,718 | 19,416 | |
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Gross loans | 22,615 | 19,317 | |
Loans, gross | 22,615 | 19,317 | |
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | |||
Gross loans | [1] | 98 | 93 |
Loans, gross | [1] | 98 | 93 |
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Gross loans | 5 | 6 | |
Loans, gross | $ 5 | $ 6 | |
[1]Includes accruing and nonaccrual loans past due 90 days or more. |
Note 2 - Loans and Allowance _6
Note 2 - Loans and Allowance for Credit Losses - Loans Past Due 90 Days or More and Impaired Loans (Details) | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 |
Ratio of ACLL to nonaccrual loans | 341.53% | 288.90% | 284.18% |
Ratio of loans past due 90 days or more and still accruing to loans, net of unearned income and deferred fees and costs | 0% | 0% | 0.01% |
Note 2 - Loans and Allowance _7
Note 2 - Loans and Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Balance | $ 8,225 | $ 7,674 | $ 7,674 | ||
Charge-offs | (232) | (316) | (367) | ||
Recoveries | 235 | 153 | 212 | ||
(Recovery of) provision for credit losses | $ (401) | $ 252 | (389) | 696 | 706 |
Balance | 10,181 | 8,207 | 10,181 | 8,207 | 8,225 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | 2,342 | ||||
Balance | 2,342 | ||||
Real Estate Construction Portfolio Segment[Member] | |||||
Balance | 450 | 422 | 422 | ||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
(Recovery of) provision for credit losses | 133 | 225 | 28 | ||
Balance | 562 | 647 | 562 | 647 | 450 |
Real Estate Construction Portfolio Segment[Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | (21) | ||||
Balance | (21) | ||||
Consumer Real Estate Portfolio Segment [Member] | |||||
Balance | 2,199 | 1,930 | 1,930 | ||
Charge-offs | (17) | (13) | (13) | ||
Recoveries | 103 | 29 | 29 | ||
(Recovery of) provision for credit losses | (353) | 266 | 253 | ||
Balance | 3,193 | 2,212 | 3,193 | 2,212 | 2,199 |
Consumer Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | 1,261 | ||||
Balance | 1,261 | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 3,642 | 3,121 | 3,121 | ||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 37 | 36 | 49 | ||
(Recovery of) provision for credit losses | (212) | 452 | 472 | ||
Balance | 4,167 | 3,609 | 4,167 | 3,609 | 3,642 |
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | 700 | ||||
Balance | 700 | ||||
Commercial Non Real Estate Segment [Member] | |||||
Balance | 930 | 1,099 | 1,099 | ||
Charge-offs | (11) | (2) | (2) | ||
Recoveries | 4 | 10 | 11 | ||
(Recovery of) provision for credit losses | (300) | (329) | (178) | ||
Balance | 839 | 778 | 839 | 778 | 930 |
Commercial Non Real Estate Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | 216 | ||||
Balance | 216 | ||||
Public Sector and IDA Portfolio Segment[Member] | |||||
Balance | 319 | 297 | 297 | ||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
(Recovery of) provision for credit losses | 10 | 39 | 22 | ||
Balance | 314 | 336 | 314 | 336 | 319 |
Public Sector and IDA Portfolio Segment[Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | (15) | ||||
Balance | (15) | ||||
Consumer Non Real Estate Portfolio Segment [Member] | |||||
Balance | 506 | 444 | 444 | ||
Charge-offs | (204) | (301) | (352) | ||
Recoveries | 91 | 78 | 123 | ||
(Recovery of) provision for credit losses | 156 | 263 | 291 | ||
Balance | 621 | 484 | 621 | 484 | 506 |
Consumer Non Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | 72 | ||||
Balance | 72 | ||||
Unallocated Financing Receivables [Member] | |||||
Balance | 179 | 361 | 361 | ||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
(Recovery of) provision for credit losses | 177 | (220) | (182) | ||
Balance | $ 485 | $ 141 | 485 | $ 141 | 179 |
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | $ 129 | ||||
Balance | $ 129 |
Note 2 - Loans and Allowance _8
Note 2 - Loans and Allowance for Credit Losses - Loans and Allowance for Loan Losses by Evaluation Method (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Allowance for Credit Loss | $ 10,181 | $ 8,225 | $ 8,207 | $ 7,674 |
Loans, individually evaluated | 10,658 | |||
Loans, collectively evaluated | 838,759 | |||
Loans | 849,417 | 853,193 | ||
Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 875 | 0 | ||
Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 9,306 | 8,225 | ||
Real Estate Construction Portfolio Segment[Member] | ||||
Financing Receivable, Allowance for Credit Loss | 562 | 450 | 647 | 422 |
Loans, individually evaluated | 288 | 0 | ||
Loans, collectively evaluated | 63,893 | 54,579 | ||
Loans | 64,181 | 54,579 | ||
Real Estate Construction Portfolio Segment[Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||
Real Estate Construction Portfolio Segment[Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 562 | 450 | ||
Consumer Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 3,193 | 2,199 | 2,212 | 1,930 |
Loans, individually evaluated | 1,059 | 186 | ||
Loans, collectively evaluated | 225,612 | 220,866 | ||
Loans | 226,671 | 221,052 | ||
Consumer Real Estate Portfolio Segment [Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 78 | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 3,115 | 2,199 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 4,167 | 3,642 | 3,609 | 3,121 |
Loans, individually evaluated | 8,826 | 2,583 | ||
Loans, collectively evaluated | 415,939 | 435,305 | ||
Loans | 424,765 | 437,888 | ||
Commercial Real Estate Portfolio Segment [Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 548 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 3,619 | 3,642 | ||
Commercial Non Real Estate Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 839 | 930 | 778 | 1,099 |
Loans, individually evaluated | 473 | 263 | ||
Loans, collectively evaluated | 42,467 | 57,389 | ||
Loans | 42,940 | 57,652 | ||
Commercial Non Real Estate Segment [Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 248 | 0 | ||
Commercial Non Real Estate Segment [Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 591 | 930 | ||
Public Sector and IDA Portfolio Segment[Member] | ||||
Financing Receivable, Allowance for Credit Loss | 314 | 319 | 336 | 297 |
Loans, individually evaluated | 0 | 0 | ||
Loans, collectively evaluated | 51,591 | 48,074 | ||
Loans | 51,591 | 48,074 | ||
Public Sector and IDA Portfolio Segment[Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||
Public Sector and IDA Portfolio Segment[Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 314 | 319 | ||
Consumer Non Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 621 | 506 | 484 | 444 |
Loans, individually evaluated | 12 | 0 | ||
Loans, collectively evaluated | 39,257 | 33,948 | ||
Loans | 39,269 | 33,948 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 1 | 0 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 620 | 506 | ||
Unallocated Financing Receivables [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 485 | 179 | $ 141 | $ 361 |
Loans, individually evaluated | 3,032 | |||
Loans, collectively evaluated | 850,161 | |||
Loans | 853,193 | |||
Unallocated Financing Receivables [Member] | Individually Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||
Unallocated Financing Receivables [Member] | Collectively Evaluated [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 485 | $ 179 |
Note 2 - Loans and Allowance _9
Note 2 - Loans and Allowance for Credit Losses - Ratios of Allowance for Loan Losses (Details) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | ||
Ratio of ACLL to the end of period loans, net of unearned income and deferred fees and costs | 1.20% | 0.96% | 0.96% | |
Ratio of net charge-offs, annualized, to average loans, net of unearned income and deferred fees and costs | [1] | 0% | 0.03% | 0.02% |
[1]Net charge-offs are on an annualized basis. |
Note 2 - Loans and Allowance_10
Note 2 - Loans and Allowance for Credit Losses - Impaired Loans and Associated Reserves (Details) $ in Thousands | Dec. 31, 2022 USD ($) | |
Principal balance | $ 3,719 | |
Total recorded investment | 3,032 | [1] |
Recorded investment for which there is no related allowance | 3,032 | [1] |
Recorded investment for which there is a related allowance | 0 | |
Related allowance | 0 | |
Recorded investment for which there is no related allowance | 3,032 | [1] |
Recorded investment for which there is a related allowance | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | ||
Principal balance | 186 | |
Total recorded investment | 186 | |
Recorded investment for which there is no related allowance | 186 | |
Recorded investment for which there is a related allowance | 0 | |
Related allowance | 0 | |
Recorded investment for which there is no related allowance | 186 | |
Recorded investment for which there is a related allowance | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | ||
Principal balance | 3,248 | |
Total recorded investment | 2,583 | [1] |
Recorded investment for which there is no related allowance | 2,583 | [1] |
Recorded investment for which there is a related allowance | 0 | |
Related allowance | 0 | |
Recorded investment for which there is no related allowance | 2,583 | [1] |
Recorded investment for which there is a related allowance | 0 | |
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | ||
Principal balance | 285 | |
Total recorded investment | 263 | [1] |
Recorded investment for which there is no related allowance | 263 | [1] |
Recorded investment for which there is a related allowance | 0 | |
Related allowance | 0 | |
Recorded investment for which there is no related allowance | 263 | [1] |
Recorded investment for which there is a related allowance | $ 0 | |
[1]Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. |
Note 2 - Loans and Allowance_11
Note 2 - Loans and Allowance for Credit Losses - Impaired Loans, Average Investment and Interest Income (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 USD ($) | ||
Average recorded investment | $ 3,067 | [1] |
Interest income recognized | 13 | |
Investor Owned Residential Real Estate [Member] | Consumer Real Estate Portfolio Segment [Member] | ||
Average recorded investment | 189 | [1] |
Interest income recognized | 9 | |
Commercial Real Estate, Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Average recorded investment | 2,601 | [1] |
Interest income recognized | 4 | |
Commercial and Industrial [Member] | Commercial Non Real Estate Segment [Member] | ||
Average recorded investment | 277 | [1] |
Interest income recognized | $ 0 | |
[1]Recorded investment is net of charge-offs and interest paid while a loan is in nonaccrual status. |
Note 2 - Loans and Allowance_12
Note 2 - Loans and Allowance for Credit Losses - Details of the Collateral Dependent Loan (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Total Loans | $ 848,975 | $ 852,744 |
Collateral Pledged [Member] | ||
Total Loans | 7 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Collateral Pledged [Member] | ||
Total Loans | $ 7 |
Note 2 - Loans and Allowance_13
Note 2 - Loans and Allowance for Credit Losses - Loans by Credit Quality Indicators (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Originated more than five years prior | $ 254,991 | ||
Originated five years prior | 48,667 | ||
Originated four years prior | 88,606 | ||
Originated three years prior | 192,216 | ||
Originated two years prior | 149,421 | ||
Originated current year | 69,014 | ||
Revolving | 46,382 | ||
Revolving loans converted to term | 120 | ||
Gross loans | 849,417 | $ 853,193 | |
Originated more than five years prior, write-offs | 0 | ||
Originated five years prior, write offs | 11 | ||
Originated four years prior, write offs | 17 | ||
Originated three years prior, write offs | 20 | ||
YTD gross charge-offs | 80 | ||
Originated current year, write offs | 6 | ||
Revolving, write offs | 98 | ||
Revolving loans converted to term, write offs | 0 | ||
YTD gross charge-offs | 232 | $ 316 | 367 |
Loans, collectively evaluated | 838,759 | ||
Pass [Member] | |||
Originated more than five years prior | 244,917 | ||
Originated five years prior | 48,664 | ||
Originated four years prior | 88,606 | ||
Originated three years prior | 191,928 | ||
Originated two years prior | 149,413 | ||
Originated current year | 69,006 | ||
Revolving | 46,105 | ||
Revolving loans converted to term | 120 | ||
Gross loans | 838,759 | ||
Loans, collectively evaluated | 848,768 | ||
Special Mention [Member] | |||
Originated more than five years prior | 6,396 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 6,396 | ||
Loans, collectively evaluated | 0 | ||
Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 3,678 | ||
Originated five years prior | 3 | ||
Originated four years prior | 0 | ||
Originated three years prior | 288 | ||
Originated two years prior | 8 | ||
Originated current year | 8 | ||
Revolving | 277 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 4,262 | ||
Loans, collectively evaluated | 1,393 | ||
Real Estate Construction Portfolio Segment[Member] | |||
Gross loans | 64,181 | 54,579 | |
YTD gross charge-offs | 0 | 0 | 0 |
Loans, collectively evaluated | 63,893 | 54,579 | |
Real Estate Construction Portfolio Segment[Member] | Construction Residential [Member] | Pass [Member] | |||
Originated more than five years prior | 0 | ||
Originated five years prior | 0 | ||
Originated four years prior | 233 | ||
Originated three years prior | 121 | ||
Originated two years prior | 3,787 | ||
Originated current year | 2,705 | ||
Revolving | 10,149 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 16,995 | ||
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | |||
Gross loans | 16,995 | 12,538 | |
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | Pass [Member] | |||
Loans, collectively evaluated | 12,538 | ||
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Real Estate Construction Portfolio Segment[Member] | Construction, 1-4 Family Residential [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | |||
Originated more than five years prior | 3,196 | ||
Originated five years prior | 1,111 | ||
Originated four years prior | 1,411 | ||
Originated three years prior | 23,451 | ||
Originated two years prior | 11,577 | ||
Originated current year | 4,375 | ||
Revolving | 2,065 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 47,186 | 42,041 | |
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Pass [Member] | |||
Originated more than five years prior | 3,196 | ||
Originated five years prior | 1,111 | ||
Originated four years prior | 1,411 | ||
Originated three years prior | 23,163 | ||
Originated two years prior | 11,577 | ||
Originated current year | 4,375 | ||
Revolving | 2,065 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 46,898 | ||
Loans, collectively evaluated | 41,741 | ||
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Real Estate Construction Portfolio Segment[Member] | Construction, Other [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 0 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 288 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 288 | ||
Loans, collectively evaluated | 300 | ||
Real Estate Construction Portfolio Segment[Member] | Equity Lines [Member] | |||
Originated more than five years prior | 53 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 16,595 | ||
Revolving loans converted to term | 6 | ||
Gross loans | 16,654 | ||
Real Estate Construction Portfolio Segment[Member] | Equity Lines [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 0 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 42 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 42 | ||
Consumer Real Estate Portfolio Segment [Member] | |||
Gross loans | 226,671 | 221,052 | |
YTD gross charge-offs | 17 | 13 | 13 |
Loans, collectively evaluated | 225,612 | 220,866 | |
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | |||
Gross loans | 16,654 | 15,026 | |
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Pass [Member] | |||
Originated more than five years prior | 53 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 16,553 | ||
Revolving loans converted to term | 6 | ||
Gross loans | 16,612 | ||
Loans, collectively evaluated | 15,026 | ||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Equity Lines [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | |||
Originated more than five years prior | 33,429 | ||
Originated five years prior | 5,874 | ||
Originated four years prior | 14,784 | ||
Originated three years prior | 32,074 | ||
Originated two years prior | 28,768 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 123,610 | 122,648 | |
Originated more than five years prior, write-offs | 0 | ||
Originated five years prior, write offs | 0 | ||
Originated four years prior, write offs | 17 | ||
Originated three years prior, write offs | 0 | ||
YTD gross charge-offs | 0 | ||
Originated current year, write offs | 0 | ||
Revolving, write offs | 0 | ||
Revolving loans converted to term, write offs | 0 | ||
YTD gross charge-offs | 17 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Pass [Member] | |||
Originated more than five years prior | 33,129 | ||
Originated five years prior | 5,874 | ||
Originated four years prior | 14,784 | ||
Originated three years prior | 32,074 | ||
Originated two years prior | 28,768 | ||
Originated current year | 8,681 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 123,310 | ||
Loans, collectively evaluated | 122,187 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End First Liens [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 300 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 300 | ||
Loans, collectively evaluated | 461 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | |||
Gross loans | 5,022 | 2,446 | |
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Pass [Member] | |||
Originated more than five years prior | 1,749 | ||
Originated five years prior | 118 | ||
Originated four years prior | 0 | ||
Originated three years prior | 175 | ||
Originated two years prior | 1,395 | ||
Originated current year | 1,570 | ||
Revolving | 0 | ||
Revolving loans converted to term | 15 | ||
Gross loans | 5,022 | ||
Loans, collectively evaluated | 2,446 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Closed End Junior Liens [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | |||
Originated more than five years prior | 23,858 | ||
Originated five years prior | 5,215 | ||
Originated four years prior | 14,348 | ||
Originated three years prior | 19,475 | ||
Originated two years prior | 13,888 | ||
Originated current year | 3,093 | ||
Revolving | 1,409 | ||
Revolving loans converted to term | 99 | ||
Gross loans | 81,385 | 80,932 | |
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Pass [Member] | |||
Originated more than five years prior | 23,141 | ||
Originated five years prior | 5,215 | ||
Originated four years prior | 14,348 | ||
Originated three years prior | 19,475 | ||
Originated two years prior | 13,888 | ||
Originated current year | 3,093 | ||
Revolving | 1,409 | ||
Revolving loans converted to term | 99 | ||
Gross loans | 80,668 | ||
Loans, collectively evaluated | 80,143 | ||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Investor Owned Residential Real Estate [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 717 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 717 | ||
Loans, collectively evaluated | 603 | ||
Consumer Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | |||
Originated more than five years prior | 52,264 | ||
Originated five years prior | 11,295 | ||
Originated four years prior | 23,661 | ||
Originated three years prior | 4,843 | ||
Originated two years prior | 16,731 | ||
Originated current year | 7,757 | ||
Revolving | 2,255 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 118,806 | ||
Consumer Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 2,430 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 2,430 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Gross loans | 424,765 | 437,888 | |
YTD gross charge-offs | 0 | 0 | 0 |
Loans, collectively evaluated | 415,939 | 435,305 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | |||
Gross loans | 133,188 | 127,312 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Pass [Member] | |||
Originated more than five years prior | 42,874 | ||
Originated five years prior | 1,823 | ||
Originated four years prior | 11,820 | ||
Originated three years prior | 40,944 | ||
Originated two years prior | 26,874 | ||
Originated current year | 8,853 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 133,188 | ||
Loans, collectively evaluated | 127,312 | ||
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Multifamily Real Estate [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | |||
Gross loans | 118,806 | 129,133 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Pass [Member] | |||
Originated more than five years prior | 43,438 | ||
Originated five years prior | 11,295 | ||
Originated four years prior | 23,661 | ||
Originated three years prior | 4,843 | ||
Originated two years prior | 16,731 | ||
Originated current year | 7,757 | ||
Revolving | 2,255 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 109,980 | ||
Loans, collectively evaluated | 126,550 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Special Mention [Member] | |||
Originated more than five years prior | 6,396 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 6,396 | ||
Loans, collectively evaluated | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate, Owner Occupied [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | |||
Gross loans | 172,771 | 181,443 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Pass [Member] | |||
Originated more than five years prior | 70,064 | ||
Originated five years prior | 22,033 | ||
Originated four years prior | 19,300 | ||
Originated three years prior | 36,272 | ||
Originated two years prior | 22,600 | ||
Originated current year | 1,957 | ||
Revolving | 545 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 172,771 | ||
Loans, collectively evaluated | 181,443 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Commercial Non Real Estate Segment [Member] | |||
Gross loans | 42,940 | 57,652 | |
YTD gross charge-offs | 11 | 2 | 2 |
Loans, collectively evaluated | 42,467 | 57,389 | |
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | |||
Originated more than five years prior | 6,331 | ||
Originated five years prior | 494 | ||
Originated four years prior | 1,189 | ||
Originated three years prior | 13,059 | ||
Originated two years prior | 7,446 | ||
Originated current year | 6,634 | ||
Revolving | 7,787 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 42,940 | 57,652 | |
Originated more than five years prior, write-offs | 0 | ||
Originated five years prior, write offs | 11 | ||
Originated four years prior, write offs | 0 | ||
Originated three years prior, write offs | 0 | ||
YTD gross charge-offs | 0 | ||
Originated current year, write offs | 0 | ||
Revolving, write offs | 0 | ||
Revolving loans converted to term, write offs | 0 | ||
YTD gross charge-offs | 11 | ||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | |||
Originated more than five years prior | 6,100 | ||
Originated five years prior | 494 | ||
Originated four years prior | 1,189 | ||
Originated three years prior | 13,059 | ||
Originated two years prior | 7,439 | ||
Originated current year | 6,634 | ||
Revolving | 7,552 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 42,467 | ||
Loans, collectively evaluated | 57,381 | ||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Commercial Non Real Estate Segment [Member] | Commercial and Industrial [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 231 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 7 | ||
Originated current year | 0 | ||
Revolving | 235 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 473 | ||
Loans, collectively evaluated | 8 | ||
States Political Subdivisions [Member] | Pass [Member] | |||
Loans, collectively evaluated | 48,074 | ||
States Political Subdivisions [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
States Political Subdivisions [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Non Real Estate Portfolio Segment [Member] | |||
Gross loans | 39,269 | 33,948 | |
YTD gross charge-offs | 204 | 301 | 352 |
Loans, collectively evaluated | 39,257 | 33,948 | |
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Gross loans | 4,574 | 4,597 | |
Originated more than five years prior, write-offs | 0 | ||
Originated five years prior, write offs | 0 | ||
Originated four years prior, write offs | 0 | ||
Originated three years prior, write offs | 0 | ||
YTD gross charge-offs | 0 | ||
Originated current year, write offs | 0 | ||
Revolving, write offs | 35 | ||
Revolving loans converted to term, write offs | 0 | ||
YTD gross charge-offs | 35 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Pass [Member] | |||
Originated more than five years prior | 0 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 4,574 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 4,574 | ||
Loans, collectively evaluated | 4,597 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Credit Card Receivable [Member] | Classified Excluding Impaired [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | |||
Originated more than five years prior | 95 | ||
Originated five years prior | 310 | ||
Originated four years prior | 680 | ||
Originated three years prior | 1,846 | ||
Originated two years prior | 3,146 | ||
Originated current year | 5,900 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 11,977 | 9,935 | |
Originated more than five years prior, write-offs | 0 | ||
Originated five years prior, write offs | 0 | ||
Originated four years prior, write offs | 0 | ||
Originated three years prior, write offs | 1 | ||
YTD gross charge-offs | 38 | ||
Originated current year, write offs | 0 | ||
Revolving, write offs | 0 | ||
Revolving loans converted to term, write offs | 0 | ||
YTD gross charge-offs | 39 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Pass [Member] | |||
Originated more than five years prior | 95 | ||
Originated five years prior | 307 | ||
Originated four years prior | 680 | ||
Originated three years prior | 1,846 | ||
Originated two years prior | 3,146 | ||
Originated current year | 5,900 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 11,974 | ||
Loans, collectively evaluated | 9,932 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Automobile Loan [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 0 | ||
Originated five years prior | 3 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 0 | ||
Originated current year | 0 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 3 | ||
Loans, collectively evaluated | 3 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | |||
Originated more than five years prior | 136 | ||
Originated five years prior | 380 | ||
Originated four years prior | 941 | ||
Originated three years prior | 2,273 | ||
Originated two years prior | 6,771 | ||
Originated current year | 11,214 | ||
Revolving | 1,003 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 22,718 | 19,416 | |
Originated more than five years prior, write-offs | 0 | ||
Originated five years prior, write offs | 0 | ||
Originated four years prior, write offs | 0 | ||
Originated three years prior, write offs | 19 | ||
YTD gross charge-offs | 42 | ||
Originated current year, write offs | 6 | ||
Revolving, write offs | 63 | ||
Revolving loans converted to term, write offs | 0 | ||
YTD gross charge-offs | 130 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Pass [Member] | |||
Originated more than five years prior | 136 | ||
Originated five years prior | 380 | ||
Originated four years prior | 941 | ||
Originated three years prior | 2,273 | ||
Originated two years prior | 6,770 | ||
Originated current year | 11,206 | ||
Revolving | 1,003 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 22,709 | ||
Loans, collectively evaluated | 19,398 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Special Mention [Member] | |||
Loans, collectively evaluated | 0 | ||
Consumer Non Real Estate Portfolio Segment [Member] | Other Consumer Loans [Member] | Classified Excluding Impaired [Member] | |||
Originated more than five years prior | 0 | ||
Originated five years prior | 0 | ||
Originated four years prior | 0 | ||
Originated three years prior | 0 | ||
Originated two years prior | 1 | ||
Originated current year | 8 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | 9 | ||
Loans, collectively evaluated | 18 | ||
Public Sector and IDA Portfolio Segment[Member] | |||
Gross loans | 51,591 | 48,074 | |
YTD gross charge-offs | 0 | $ 0 | 0 |
Loans, collectively evaluated | 51,591 | $ 48,074 | |
Public Sector and IDA Portfolio Segment[Member] | Pass [Member] | |||
Originated more than five years prior | 20,942 | ||
Originated five years prior | 14 | ||
Originated four years prior | 239 | ||
Originated three years prior | 17,683 | ||
Originated two years prior | 6,438 | ||
Originated current year | 6,275 | ||
Revolving | 0 | ||
Revolving loans converted to term | 0 | ||
Gross loans | $ 51,591 |
Note 2 - Loans and Allowance_14
Note 2 - Loans and Allowance for Credit Losses - Financing Receivable, Troubled Debt Restructurings (Details) - Commercial Real Estate Portfolio Segment [Member] - Commercial Real Estate, Owner Occupied [Member] - Interest Only Payments [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
amortized cost | $ 6,396 |
Percentage | 5.38% |
Commercial real estate owner-occupied (Month) | 6 months |
Note 2 - Loans and Allowance_15
Note 2 - Loans and Allowance for Credit Losses - Allowance for Credit Losses on Unfunded Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Balance | $ 8,225 | $ 7,674 | $ 7,674 | ||
(Recovery of) provision for credit losses | $ (401) | $ 252 | (389) | 696 | 706 |
Balance | 10,181 | $ 8,207 | 10,181 | $ 8,207 | 8,225 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | 2,342 | ||||
Balance | 2,342 | ||||
Unfunded Loan Commitment [Member] | |||||
Balance | 35 | ||||
(Recovery of) provision for credit losses | 21 | ||||
Balance | $ 263 | 263 | 35 | ||
Unfunded Loan Commitment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||
Balance | $ 207 | ||||
Balance | $ 207 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) Pure in Thousands, $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Interest Receivable on Securities | $ 3,420 | $ 3,485 |
Deferred Tax Asset, Debt Securities, Available-for-Sale, Unrealized Loss | $ 23,211 | $ 21,644 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 577 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position | $ 591,307 | |
National Bank of Blacksburg [Member] | Federal Home Loan Bank of Atlanta [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 510,786 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available-for-sale, amortized costs | $ 702,083 | $ 759,917 |
Securities available-for-sale, gross unrealized gains | 0 | 87 |
Securities available-for-sale, gross unrealized losses | 110,531 | 103,152 |
Securities available for sale, allowance for credit loss | 0 | |
Securities available for sale | 591,552 | 656,852 |
US Treasury Securities [Member] | ||
Securities available-for-sale, amortized costs | 995 | 992 |
Securities available-for-sale, gross unrealized gains | 0 | 0 |
Securities available-for-sale, gross unrealized losses | 47 | 56 |
Securities available for sale, allowance for credit loss | 0 | |
Securities available for sale | 948 | 936 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized costs | 353,845 | 391,538 |
Securities available-for-sale, gross unrealized gains | 0 | 39 |
Securities available-for-sale, gross unrealized losses | 57,856 | 55,002 |
Securities available for sale, allowance for credit loss | 0 | |
Securities available for sale | 295,989 | 336,575 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized costs | 179,672 | 190,192 |
Securities available-for-sale, gross unrealized gains | 0 | 26 |
Securities available-for-sale, gross unrealized losses | 42,603 | 38,018 |
Securities available for sale, allowance for credit loss | 0 | |
Securities available for sale | 137,069 | 152,200 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities available-for-sale, amortized costs | 161,067 | 170,694 |
Securities available-for-sale, gross unrealized gains | 0 | 22 |
Securities available-for-sale, gross unrealized losses | 8,955 | 9,239 |
Securities available for sale, allowance for credit loss | 0 | |
Securities available for sale | 152,112 | 161,477 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized costs | 6,504 | 6,501 |
Securities available-for-sale, gross unrealized gains | 0 | 0 |
Securities available-for-sale, gross unrealized losses | 1,070 | 837 |
Securities available for sale, allowance for credit loss | 0 | |
Securities available for sale | $ 5,434 | $ 5,664 |
Note 3 - Securities - Securit_2
Note 3 - Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Amortized cost, due in one year or less, available for sale securities | $ 1,755 | |
Fair value, due in one year or less, available for sale securities | 1,730 | |
Amortized cost, due after one year through five years, available for sale securities | 154,209 | |
Fair value, due after one year through five years, available for sale securities | 140,650 | |
Amortized cost, due after five years through ten years, available for sale securities | 293,046 | |
Fair value, due after five years through ten years, available for sale securities | 239,668 | |
Amortized cost, due after ten years, available for sale securities | 253,073 | |
Fair value, due after ten years, available for sale securities | 209,504 | |
Amortized cost, total securities available for sale | 702,083 | $ 759,917 |
Fair value, total securities available for sale | $ 591,552 | $ 656,852 |
Note 3 - Securities - Securit_3
Note 3 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Temporarily impaired securities, less than 12 months, fair value | $ 2,509 | $ 389,208 |
Temporarily impaired securities, less than 12 months unrealized loss | 80 | 39,109 |
Temporarily impaired securities, 12 months or more fair value | 588,798 | 259,070 |
Temporarily impaired securities, 12 months or more unrealized loss | 110,451 | 64,043 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 936 |
Temporarily impaired securities, less than 12 months unrealized loss | 0 | 56 |
Temporarily impaired securities, 12 months or more fair value | 948 | 0 |
Temporarily impaired securities, 12 months or more unrealized loss | 47 | 0 |
US Government Agencies Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 144,574 |
Temporarily impaired securities, less than 12 months unrealized loss | 0 | 12,699 |
Temporarily impaired securities, 12 months or more fair value | 295,989 | 190,950 |
Temporarily impaired securities, 12 months or more unrealized loss | 57,856 | 42,303 |
US States and Political Subdivisions Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 845 | 94,657 |
Temporarily impaired securities, less than 12 months unrealized loss | 41 | 18,373 |
Temporarily impaired securities, 12 months or more fair value | 135,979 | 52,134 |
Temporarily impaired securities, 12 months or more unrealized loss | 42,562 | 19,645 |
Commercial Mortgage-Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 1,664 | 144,198 |
Temporarily impaired securities, less than 12 months unrealized loss | 39 | 7,326 |
Temporarily impaired securities, 12 months or more fair value | 150,448 | 15,165 |
Temporarily impaired securities, 12 months or more unrealized loss | 8,916 | 1,913 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 4,843 |
Temporarily impaired securities, less than 12 months unrealized loss | 0 | 655 |
Temporarily impaired securities, 12 months or more fair value | 5,434 | 821 |
Temporarily impaired securities, 12 months or more unrealized loss | $ 1,070 | $ 182 |
Note 4 - Defined Benefit Plan_2
Note 4 - Defined Benefit Plan (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 |
Note 4 - Defined Benefit Plan -
Note 4 - Defined Benefit Plan - Defined Benefit Plan Activity (Details) - Pension Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Service cost | $ 203 | $ 324 | $ 609 | $ 972 |
Interest cost | 273 | 204 | 819 | 612 |
Expected return on plan assets | (518) | (629) | (1,553) | (1,887) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial loss | 17 | 110 | 52 | 330 |
Net periodic benefit (income) cost | $ (25) | $ 9 | $ (73) | $ 27 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Financing Receivable, before Allowance for Credit Loss | $ 848,975 | $ 852,744 |
Collateral Pledged [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 7 | |
Closed End First Liens [Member] | Consumer Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | ||
Financing Receivable, before Allowance for Credit Loss | 7 | |
Loans Held-for-sale [Member] | Changes Measurement [Member] | Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Adjustment | $ 0 | $ 0 |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurements - Assets and Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available for sale | $ 591,552 | $ 656,852 |
Securities available for sale | 591,552 | 656,852 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 591,552 | 656,852 |
Securities available for sale | 591,552 | 656,852 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
US Treasury Securities [Member] | ||
Securities available for sale | 948 | 936 |
Securities available for sale | 948 | 936 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 948 | 936 |
Securities available for sale | 948 | 936 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale | 295,989 | 336,575 |
Securities available for sale | 295,989 | 336,575 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 295,989 | 336,575 |
Securities available for sale | 295,989 | 336,575 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale | 137,069 | 152,200 |
Securities available for sale | 137,069 | 152,200 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 137,069 | 152,200 |
Securities available for sale | 137,069 | 152,200 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities available for sale | 152,112 | 161,477 |
Securities available for sale | 152,112 | 161,477 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 152,112 | 161,477 |
Securities available for sale | 152,112 | 161,477 |
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Corporate Debt Securities [Member] | ||
Securities available for sale | 5,434 | 5,664 |
Securities available for sale | 5,434 | 5,664 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 5,434 | 5,664 |
Securities available for sale | 5,434 | 5,664 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Securities available for sale | $ 0 | $ 0 |
Note 5 - Fair Value Measureme_5
Note 5 - Fair Value Measurements - Impaired Loans and Other Real Estate Owned Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Other real estate owned net of valuation allowance | $ 662 | $ 662 |
Fair Value, Inputs, Level 1 [Member] | ||
Other real estate owned net of valuation allowance | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Other real estate owned net of valuation allowance | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned net of valuation allowance | $ 662 | $ 662 |
Note 5 - Fair Value Measureme_6
Note 5 - Fair Value Measurements - Level 3 Fair Value Measurements (Details) | Sep. 30, 2023 | Dec. 31, 2022 | ||
OREO | 34.72 | |||
Measurement Input, Cost to Sell [Member] | Valuation, Market Approach [Member] | ||||
OREO | 0.07 | [1] | 0.07 | |
Measurement Input, Discount Rate [Member] | Valuation, Market Approach [Member] | ||||
OREO | [1] | 0.3472 | ||
[1]As of September 30, 2022 and December 31, 2021, OREO was composed of a single property. |
Note 5 - Fair Value Measureme_7
Note 5 - Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available for sale | $ 591,552 | $ 656,852 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 591,552 | 656,852 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 13,089 | 12,403 |
Interest-bearing deposits | 40,353 | 59,026 |
Loans, net | 838,794 | 844,519 |
Accrued interest receivable | 6,180 | 6,001 |
Bank-owned life insurance | 43,327 | 43,312 |
Deposits | 1,465,000 | 1,542,725 |
Accrued interest payable | 551 | 106 |
Estimate of Fair Value Measurement [Member] | ||
Securities available for sale | 591,552 | 656,852 |
Restricted securities | 1,264 | 941 |
Mortgage loans | 82 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 13,089 | 12,403 |
Interest-bearing deposits | 40,353 | 59,026 |
Securities available for sale | 0 | 0 |
Restricted securities | 0 | 0 |
Mortgage loans | 0 | |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Bank-owned life insurance | 0 | 0 |
Deposits | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits | 0 | 0 |
Securities available for sale | 591,552 | 656,852 |
Restricted securities | 1,264 | 941 |
Mortgage loans | 82 | |
Loans, net | 0 | 0 |
Accrued interest receivable | 6,180 | 6,001 |
Bank-owned life insurance | 43,327 | 43,312 |
Deposits | 1,277,115 | 1,475,096 |
Accrued interest payable | 551 | 106 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits | 0 | 0 |
Securities available for sale | 0 | 0 |
Restricted securities | 0 | 0 |
Mortgage loans | 0 | |
Loans, net | 792,126 | 781,749 |
Accrued interest receivable | 0 | 0 |
Bank-owned life insurance | 0 | 0 |
Deposits | 186,480 | 67,542 |
Accrued interest payable | $ 0 | $ 0 |
Note 6 - Components of Accumu_3
Note 6 - Components of Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Balances | $ 128,444 | $ 136,244 | $ 122,687 | $ 191,751 |
Balances | 116,113 | 112,187 | 116,113 | 112,187 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Balances | (71,898) | (55,865) | (81,421) | 2,854 |
Unrealized holding gain (loss) on available for sale securities, net of tax | (15,421) | (29,424) | (8,530) | (88,143) |
Balances | (87,319) | (85,289) | (87,319) | (85,289) |
Unrealized holding loss on available for sale securities, net of tax | (15,421) | (29,424) | (8,530) | (88,143) |
Reclassification adjustment, net of tax | 2,632 | |||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balances | (2,345) | (6,912) | (2,345) | (6,912) |
Unrealized holding gain (loss) on available for sale securities, net of tax | 0 | 0 | ||
Balances | (2,345) | (6,912) | (2,345) | (6,912) |
Unrealized holding loss on available for sale securities, net of tax | 0 | 0 | ||
Reclassification adjustment, net of tax | 0 | |||
AOCI Attributable to Parent [Member] | ||||
Balances | (74,243) | (62,777) | (83,766) | (4,058) |
Unrealized holding gain (loss) on available for sale securities, net of tax | (15,421) | (29,424) | (8,530) | (88,143) |
Balances | (89,664) | (92,201) | (89,664) | (92,201) |
Unrealized holding loss on available for sale securities, net of tax | $ (15,421) | $ (29,424) | (8,530) | $ (88,143) |
Reclassification adjustment, net of tax | $ 2,632 |
Note 6 - Components of Accumu_4
Note 6 - Components of Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Income (Loss) (Details) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Unrealized holding gain (loss) on available for sale securities, tax | $ (2,268) | |||
Unrealized holding gain (loss) on available for sale securities, tax | (2,268) | |||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Unrealized holding gain (loss) on available for sale securities, tax | $ (4,099) | $ (7,822) | $ (23,431) | |
Unrealized holding gain (loss) on available for sale securities, tax | (4,099) | (7,822) | (23,431) | |
Reclassification adjustment for gain included in net income, taxes | 700 | |||
AOCI Attributable to Parent [Member] | ||||
Unrealized holding gain (loss) on available for sale securities, tax | (4,099) | (7,822) | (23,431) | |
Unrealized holding gain (loss) on available for sale securities, tax | $ (4,099) | $ (7,822) | $ (23,431) | |
Reclassification adjustment for gain included in net income, taxes | $ 700 |
Note 7 - Revenue Recognition -
Note 7 - Revenue Recognition - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Noninterest Income (in-scope of Topic 606) | $ 1,835 | $ 1,795 | $ 5,370 | $ 5,271 |
Noninterest Income (out-of-scope of Topic 606) | 280 | 345 | 1,735 | 1,272 |
Total noninterest income | 2,115 | 2,140 | 7,105 | 6,543 |
Deposit Account [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 642 | 661 | 1,871 | 1,826 |
Product and Service, Other [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 151 | 51 | 253 | 157 |
Credit and Debit Card [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 395 | 448 | 1,276 | 1,423 |
Fiduciary and Trust [Member] | ||||
Noninterest Income (in-scope of Topic 606) | 505 | 492 | 1,431 | 1,374 |
Insurance and Investment [Member] | ||||
Noninterest Income (in-scope of Topic 606) | $ 142 | $ 143 | $ 539 | $ 491 |
Note 8 - Leases - Lease Informa
Note 8 - Leases - Lease Information and Expenses (Details) - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Weighted average remaining lease term (in years) (Year) | 4 years 6 months 29 days | 4 years 6 months 29 days | 5 years 1 month 20 days | ||
Weighted average discount rate | 3.29% | 3.29% | 3.29% | ||
Operating lease expense | $ 91 | $ 84 | $ 275 | $ 238 | |
Short-term lease expense | 10 | 1 | 11 | 2 | |
Total lease expense | 101 | 85 | 286 | 240 | |
Cash paid for amounts included in lease liabilities | 100 | 83 | 286 | 239 | |
Right-of-use assets obtained in exchange for operating lease liabilities commencing during the period | 0 | $ 79 | 0 | $ 104 | |
Other Liabilities [Member] | |||||
Lease liability | 1,205 | 1,205 | $ 1,444 | ||
Other Assets [Member] | |||||
Right-of-use asset | $ 1,175 | $ 1,175 | $ 1,415 |
Note 8 - Leases - Lease Liabili
Note 8 - Leases - Lease Liability Maturity Schedule (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Twelve months ending September 30, 2024 | $ 351 | |
Twelve months ending September 30, 2025 | 289 | |
Twelve months ending September 30, 2026 | 219 | |
Twelve months ending September 30, 2027 | 187 | |
Twelve months ending September 30, 2028 | 189 | |
Thereafter | 64 | |
Total undiscounted cash flows | 1,299 | |
Less: discount | (94) | |
Other Liabilities [Member] | ||
Lease liability | $ 1,205 | $ 1,444 |
Note 9 - Stock Based Compensa_3
Note 9 - Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2023 | May 09, 2023 | |
Share-Based Payment Arrangement, Expense | $ 16 | $ 21 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 42 | $ 42 | |
Stock Incentive Plan 2023 [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 120,000 | ||
Stock Incentive Plan 2023 [Member] | Restricted Stock Award [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year |
Note 9 - Stock Based Compensa_4
Note 9 - Stock Based Compensation - Summary of Nonvested Shares (Details) - Restricted Stock Award [Member] | 3 Months Ended |
Sep. 30, 2023 $ / shares shares | |
Nonvested, shares (in shares) | shares | 2,052 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 30.7 |
Granted, shares (in shares) | shares | 0 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Nonvested, shares (in shares) | shares | 2,052 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 30.7 |
Note 10 - Earnings Per Share -
Note 10 - Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income, basic | $ 3,074 | $ 6,162 | $ 11,506 | $ 16,622 |
Common shares, basic (in shares) | 5,889,687 | 5,974,961 | 5,889,687 | 6,008,607 |
Basic net income per common share (in dollars per share) | $ 0.52 | $ 1.03 | $ 1.95 | $ 2.77 |
Dilutive shares for restricted stock awards: (in shares) | 252 | 0 | 91 | 0 |
Net income, diluted | $ 3,074 | $ 6,162 | $ 11,506 | $ 16,622 |
Weighted average number of common shares outstanding, diluted (in shares) | 5,889,939 | 5,974,961 | 5,889,778 | 6,008,607 |
Diluted net income per common share (in dollars per share) | $ 0.52 | $ 1.03 | $ 1.95 | $ 2.77 |