Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 11, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000836147 | |
Entity Registrant Name | Middlefield Banc Corp. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-36613 | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 34-1585111 | |
Entity Address, Address Line One | 15985 East High Street | |
Entity Address, City or Town | Middlefield | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 44062-0035 | |
City Area Code | 440 | |
Local Phone Number | 632-1666 | |
Title of 12(b) Security | Common Stock, Without Par Value | |
Trading Symbol | MBCN | |
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 | 5,767,803 |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 119,777,000 | $ 97,172,000 |
Federal funds sold | 8,800,000 | 22,322,000 |
Cash and cash equivalents | 128,577,000 | 119,494,000 |
Equity securities, at fair value | 972,000 | 818,000 |
Investment securities available for sale, at fair value | 162,064,000 | 170,199,000 |
Loans held for sale | 0 | 1,051,000 |
Loans: | ||
Loans | 995,195,000 | 981,691,000 |
Less: allowance for loan and lease losses | 14,532,000 | 14,342,000 |
Net loans | 980,663,000 | 967,349,000 |
Premises and equipment, net | 16,215,000 | 17,272,000 |
Goodwill | 15,071,000 | 15,071,000 |
Core deposit intangibles | 1,171,000 | 1,403,000 |
Bank-owned life insurance | 17,382,000 | 17,060,000 |
Other real estate owned | 6,792,000 | 6,992,000 |
Accrued interest receivable and other assets | 22,104,000 | 14,297,000 |
TOTAL ASSETS | 1,351,011,000 | 1,331,006,000 |
LIABILITIES | ||
Noninterest-bearing demand | 383,675,000 | 334,171,000 |
Interest-bearing demand | 160,112,000 | 196,308,000 |
Money market | 162,052,000 | 177,281,000 |
Savings | 247,466,000 | 260,125,000 |
Time | 177,182,000 | 198,725,000 |
Total deposits | 1,130,487,000 | 1,166,610,000 |
Short-term borrowings: | ||
Federal Home Loan Bank advances | 80,000,000 | 0 |
Total short-term borrowings | 80,000,000 | 0 |
Other borrowings | 12,107,000 | 12,901,000 |
Accrued interest payable and other liabilities | 5,562,000 | 6,160,000 |
TOTAL LIABILITIES | 1,228,156,000 | 1,185,671,000 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value; 10,000,000 shares authorized, 7,350,616 and 7,330,548 shares issued; 5,767,803 and 5,888,737 shares outstanding | 87,640,000 | 87,131,000 |
Retained earnings | 93,166,000 | 83,971,000 |
Accumulated other comprehensive (loss) income | (25,080,000) | 3,462,000 |
Treasury stock, at cost; 1,582,813 and 1,441,811 shares | (32,871,000) | (29,229,000) |
TOTAL STOCKHOLDERS' EQUITY | 122,855,000 | 145,335,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,351,011,000 | 1,331,006,000 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans: | ||
Loans | 120,912,000 | 111,470,000 |
Less: allowance for loan and lease losses | 1,884,000 | 1,836,000 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans: | ||
Loans | 285,419,000 | 283,618,000 |
Less: allowance for loan and lease losses | 5,698,000 | 7,431,000 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans: | ||
Loans | 38,063,000 | 31,189,000 |
Less: allowance for loan and lease losses | 623,000 | 454,000 |
Residential Portfolio Segment [Member] | ||
Loans: | ||
Loans | 247,612,000 | 240,089,000 |
Less: allowance for loan and lease losses | 2,249,000 | 1,740,000 |
Commercial And Industrial [Member] | ||
Loans: | ||
Loans | 146,987,000 | 148,812,000 |
Less: allowance for loan and lease losses | 1,732,000 | 882,000 |
Home Equity Lines of Credit [Member] | ||
Loans: | ||
Loans | 114,344,000 | 104,355,000 |
Less: allowance for loan and lease losses | 1,893,000 | 1,452,000 |
Construction and Other [Member] | ||
Loans: | ||
Loans | 33,748,000 | 54,148,000 |
Less: allowance for loan and lease losses | 429,000 | 533,000 |
Consumer Portfolio Segment [Member] | ||
Loans: | ||
Loans | 8,110,000 | 8,010,000 |
Less: allowance for loan and lease losses | $ 24,000 | $ 14,000 |
Consolidated Balance Sheet (U_2
Consolidated Balance Sheet (Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 7,350,616 | 7,330,548 |
Common stock, shares outstanding (in shares) | 5,767,803 | 5,888,737 |
Treasury stock, shares (in shares) | 1,582,813 | 1,441,811 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
INTEREST AND DIVIDEND INCOME | |||||
Interest and fees on loans | $ 11,892,000 | $ 12,258,000 | $ 34,145,000 | $ 36,310,000 | |
Interest-earning deposits in other institutions | 134,000 | 30,000 | 232,000 | 60,000 | |
Federal funds sold | 51,000 | 1,000 | 100,000 | 2,000 | |
Investment securities: | |||||
Taxable interest | 449,000 | 461,000 | 1,334,000 | 1,241,000 | |
Tax-exempt interest | 982,000 | 673,000 | 2,721,000 | 1,833,000 | |
Dividends on stock | 59,000 | 24,000 | 116,000 | 79,000 | |
Total interest and dividend income | 13,567,000 | 13,447,000 | 38,648,000 | 39,525,000 | |
INTEREST EXPENSE | |||||
Deposits | 812,000 | 915,000 | 2,247,000 | 3,130,000 | |
Short-term borrowings | 44,000 | 0 | 44,000 | 0 | |
Other borrowings | 112,000 | 68,000 | 262,000 | 214,000 | |
Total interest expense | 968,000 | 983,000 | 2,553,000 | 3,344,000 | |
NET INTEREST INCOME | 12,599,000 | 12,464,000 | 36,095,000 | 36,181,000 | |
Provision for loan losses | 0 | 0 | 0 | 900,000 | |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 12,599,000 | 12,464,000 | 36,095,000 | 35,281,000 | |
NONINTEREST INCOME | |||||
(Loss) gain on equity securities | [1] | (57,000) | 102,000 | (96,000) | 223,000 |
Earnings on bank-owned life insurance | [1] | 108,000 | 108,000 | 322,000 | 440,000 |
Gain on sale of loans | [1] | 7,000 | 309,000 | 28,000 | 1,122,000 |
Revenue from investment services | 233,000 | 190,000 | 527,000 | 529,000 | |
Total noninterest income | 1,546,000 | 1,821,000 | 4,332,000 | 5,671,000 | |
NONINTEREST EXPENSE | |||||
Salaries and employee benefits | 4,491,000 | 4,488,000 | 12,662,000 | 13,063,000 | |
Occupancy expense | 458,000 | 426,000 | 1,546,000 | 1,506,000 | |
Equipment expense | 233,000 | 333,000 | 822,000 | 1,003,000 | |
Data processing and information technology costs | 985,000 | 845,000 | 2,650,000 | 2,447,000 | |
Ohio state franchise tax | 293,000 | 287,000 | 878,000 | 859,000 | |
Federal deposit insurance expense | 84,000 | 150,000 | 224,000 | 444,000 | |
Professional fees | 280,000 | 136,000 | 1,118,000 | 878,000 | |
Net gain on other real estate owned | [2] | 1,000 | 9,000 | 215,000 | 77,000 |
Advertising expense | 268,000 | 222,000 | 725,000 | 664,000 | |
Software amortization expense | 27,000 | 88,000 | 115,000 | 242,000 | |
Core deposit intangible amortization | 78,000 | 81,000 | 232,000 | 241,000 | |
Merger-related costs | 390,000 | 0 | 969,000 | 0 | |
Other expense | 1,298,000 | 842,000 | 3,531,000 | 2,694,000 | |
Total noninterest expense | 8,886,000 | 7,907,000 | 25,687,000 | 24,118,000 | |
Income before income taxes | 5,259,000 | 6,378,000 | 14,740,000 | 16,834,000 | |
Income taxes | 1,010,000 | 1,174,000 | 2,569,000 | 3,038,000 | |
NET INCOME | $ 4,249,000 | $ 5,204,000 | $ 12,171,000 | $ 13,796,000 | |
EARNINGS PER SHARE | |||||
Basic (in dollars per share) | $ 0.73 | $ 0.85 | $ 2.08 | $ 2.20 | |
Diluted (in dollars per share) | $ 0.73 | $ 0.85 | $ 2.08 | $ 2.19 | |
Deposit Account [Member] | |||||
NONINTEREST INCOME | |||||
Noninterest income revenue | $ 1,004,000 | $ 876,000 | $ 2,874,000 | $ 2,519,000 | |
Financial Service, Other [Member] | |||||
NONINTEREST INCOME | |||||
Noninterest income revenue | $ 251,000 | $ 236,000 | $ 677,000 | $ 838,000 | |
[1]Not within scope of ASC 606[2]Recognized within noninterest expense |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income | $ 4,249 | $ 5,204 | $ 12,171 | $ 13,796 |
Other comprehensive loss: | ||||
Net unrealized holding loss on available-for-sale investment securities | (9,479) | (358) | (36,129) | (853) |
Tax effect | 1,990 | 75 | 7,587 | 179 |
Total other comprehensive loss | (7,489) | (283) | (28,542) | (674) |
Comprehensive (loss) income | $ (3,240) | $ 4,921 | $ (16,371) | $ 13,122 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 7,308,685 | ||||
Balance at Dec. 31, 2020 | $ 86,886 | $ 69,578 | $ 4,284 | $ (16,938) | $ 143,810 |
Net income | 13,796 | 13,796 | |||
Other comprehensive income (loss) | (674) | (674) | |||
Stock-based compensation, net (in shares) | 10,213 | ||||
Stock-based compensation, net | $ 151 | 151 | |||
Treasury shares acquired | (8,124) | (8,124) | |||
Cash dividends | (2,998) | (2,998) | |||
Stock options exercised (in shares) | 10,650 | ||||
Stock options exercised | $ 94 | 94 | |||
Balance (in shares) at Sep. 30, 2021 | 7,329,548 | ||||
Balance at Sep. 30, 2021 | $ 87,131 | 80,376 | 3,610 | (25,062) | 146,055 |
Balance (in shares) at Jun. 30, 2021 | 7,325,918 | ||||
Balance at Jun. 30, 2021 | $ 87,131 | 76,150 | 3,893 | (21,130) | 146,044 |
Net income | 5,204 | 5,204 | |||
Other comprehensive income (loss) | (283) | (283) | |||
Stock-based compensation, net (in shares) | 3,630 | ||||
Stock-based compensation, net | 0 | ||||
Treasury shares acquired | (3,932) | (3,932) | |||
Cash dividends | (978) | (978) | |||
Balance (in shares) at Sep. 30, 2021 | 7,329,548 | ||||
Balance at Sep. 30, 2021 | $ 87,131 | 80,376 | 3,610 | (25,062) | $ 146,055 |
Balance (in shares) at Dec. 31, 2021 | 7,330,548 | 5,888,737 | |||
Balance at Dec. 31, 2021 | $ 87,131 | 83,971 | 3,462 | (29,229) | $ 145,335 |
Net income | 12,171 | 12,171 | |||
Other comprehensive income (loss) | (28,542) | (28,542) | |||
Stock-based compensation, net (in shares) | 20,068 | ||||
Stock-based compensation, net | $ 509 | 509 | |||
Treasury shares acquired | (3,642) | (3,642) | |||
Cash dividends | (2,976) | $ (2,976) | |||
Balance (in shares) at Sep. 30, 2022 | 7,350,616 | 5,767,803 | |||
Balance at Sep. 30, 2022 | $ 87,640 | 93,166 | (25,080) | (32,871) | $ 122,855 |
Balance (in shares) at Jun. 30, 2022 | 7,347,526 | ||||
Balance at Jun. 30, 2022 | $ 87,562 | 89,900 | (17,591) | (31,651) | 128,220 |
Net income | 4,249 | 4,249 | |||
Other comprehensive income (loss) | (7,489) | (7,489) | |||
Stock-based compensation, net (in shares) | 3,090 | ||||
Stock-based compensation, net | $ 78 | 78 | |||
Treasury shares acquired | (1,220) | (1,220) | |||
Cash dividends | (983) | $ (983) | |||
Balance (in shares) at Sep. 30, 2022 | 7,350,616 | 5,767,803 | |||
Balance at Sep. 30, 2022 | $ 87,640 | $ 93,166 | $ (25,080) | $ (32,871) | $ 122,855 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Retained Earnings [Member] | ||||
Cash dividends per share (in dollars per share) | $ 0.17 | $ 0.16 | $ 0.51 | $ 0.48 |
Treasury acquired, shares (in shares) | 45,638 | 165,058 | 141,002 | 346,103 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | ||
OPERATING ACTIVITIES | |||
Net income | $ 12,171,000 | $ 13,796,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 0 | 900,000 | |
Loss (gain) on equity securities | [1] | 96,000 | (223,000) |
Depreciation and amortization of premises and equipment, net | 968,000 | 1,075,000 | |
Software amortization expense | 115,000 | 242,000 | |
Financing lease amortization expense | 114,000 | 235,000 | |
Amortization of premium and discount on investment securities, net | 470,000 | 351,000 | |
Accretion of deferred loan fees, net | (1,678,000) | (3,750,000) | |
Amortization of core deposit intangibles | 232,000 | 241,000 | |
Stock-based compensation income, net | 113,000 | (21,000) | |
Origination of loans held for sale | (1,341,000) | (30,309,000) | |
Proceeds from sale of loans | 1,636,000 | 31,633,000 | |
Gain on sale of loans | (28,000) | (1,122,000) | |
Earnings on bank-owned life insurance | [1] | (322,000) | (440,000) |
Deferred income tax | 48,000 | 281,000 | |
Loss on other real estate owned | 0 | 28,000 | |
Other real estate owned writedowns | 200,000 | 0 | |
(Increase) decrease in accrued interest receivable | (143,000) | 818,000 | |
Increase (decrease) in accrued interest payable | 94,000 | (275,000) | |
Other, net | (271,000) | (2,177,000) | |
Net cash provided by operating activities | 12,474,000 | 11,283,000 | |
INVESTING ACTIVITIES | |||
Proceeds from repayments and maturities | 3,576,000 | 9,528,000 | |
Purchases | (32,290,000) | (59,429,000) | |
(Increase) decrease in loans, net | (10,852,000) | 97,365,000 | |
Proceeds from the sale of other real estate owned | 0 | 332,000 | |
Proceeds from bank-owned life insurance | 0 | 424,000 | |
Net purchase of premises and equipment | (636,000) | (417,000) | |
Purchase of restricted stock | (1,448,000) | 0 | |
Redemption of restricted stock | 1,183,000 | 658,000 | |
Net cash (used in) provided by investing activities | (40,467,000) | 48,461,000 | |
FINANCING ACTIVITIES | |||
Net decrease in deposits | (36,123,000) | (24,643,000) | |
Increase in short-term borrowings, net | 80,000,000 | 0 | |
Repayment of other borrowings | (183,000) | (4,139,000) | |
Stock options exercised | 0 | 94,000 | |
Repurchase of treasury shares | (3,642,000) | (8,124,000) | |
Cash dividends | (2,976,000) | (2,998,000) | |
Net cash provided (used in) by financing activities | 37,076,000 | (39,810,000) | |
Increase in cash and cash equivalents | 9,083,000 | 19,934,000 | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 119,494,000 | 112,417,000 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 128,577,000 | 132,351,000 | |
SUPPLEMENTAL INFORMATION | |||
Interest on deposits and borrowings | 2,459,000 | 3,520,000 | |
Income taxes | 2,727,000 | 4,328,000 | |
Transfers from loans held for sale to loans held for investment | 784,000 | 63,000 | |
Transfers from loans to other real estate owned | 0 | 0 | |
Decrease (increase) in finance lease assets included in premises and equipment | 611,000 | (67,000) | |
(Decrease) increase in finance lease liabilities included in other borrowings | $ (611,000) | $ 67,000 | |
[1]Not within scope of ASC 606 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 The consolidated financial statements of Middlefield Banc Corp. ("Company") include its bank subsidiary, The Middlefield Banking Company (“MBC” or “Middlefield Bank”), and a nonbank asset resolution subsidiary EMORECO, Inc. The consolidated financial statements also include the accounts of MBC’s subsidiaries, Middlefield Investments, Inc. (MI) and Middlefield Insurance Services. All significant inter-company items have been eliminated. In the first 2022, September 30, 2022, The unaudited condensed consolidated financial statements have been prepared in conformity with the instructions to Form 10 10 X. not 10 December 31, 2021. not may In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ from those estimates. Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments first December 15, 2022, one first one Current Expected Credit Loss (CECL) Adoption 326, not In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2022, not In November 2019, 2019 11, Codification Improvements to Topic 326, Credit Losses 326, not 2016 13 November 26, 2019, 2019 11 2016 13. 2016 13, 2019 11 December 15, 2019, not In January 2020, 2020 04, Reference Rate Reform (Topic 848 March 2020 not not one December 31, 2022. In March 2022, 2022 02, Financial Instruments Credit Losses (Topic 326 326, 310 40, 310 20 35 9 35 11 326 20, 2016 13. In June 2022, 2022 03, Fair Value Measurement (Topic 820 not not December 15, 2023. 2022 03 not Reclassification of Comparative Amounts Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2 REVENUE RECOGNITION Following ASC Topic 606, Revenue from Contracts with Customers (Topic 606 not 606. The main types of noninterest income within the scope of the standard are as follows: Service charges on deposit accounts Net gains (losses) on sale of other real estate owned ( “ OREO ” ) not Revenue from investment services Miscellaneous Fee income The following table depicts the disaggregation of revenue derived from contracts with customers to depict the nature, amount, timing, and uncertainty of revenue and cash flows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Noninterest Income 2022 2021 2022 2021 (Dollar amounts in thousands) Service charges on deposit accounts: Overdraft fees $ 237 $ 192 $ 661 $ 523 ATM banking fees 397 354 1,065 1,026 Service charges and other fees 370 330 1,148 970 (Loss) gain on equity securities (a) (57 ) 102 (96 ) 223 Earnings on bank-owned life insurance (a) 108 108 322 440 Gain on sale of loans (a) 7 309 28 1,122 Revenue from investment services 233 190 527 529 Miscellaneous Fee income 83 75 222 192 Other income 168 161 455 646 Total noninterest income $ 1,546 $ 1,821 $ 4,332 $ 5,671 Net loss (gain) on other real estate owned $ 1 $ 9 $ 215 $ 77 (a) Not 606 |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 3 The Company had no September 30, 2022 2021. There was no three nine September 30, 2022. The following table presents the activity during the nine September 30, 2022, Weighted- average Grant Date Fair Units Value Per Unit Nonvested at January 1, 2022 76,933 $ 23.01 Granted 25,414 24.80 Vested (25,263 ) 20.95 Forfeited (13,438 ) - Nonvested at September 30, 2022 63,646 $ 24.34 Expected to vest as of September 30, 2022 57,271 $ 24.27 The Company recognizes restricted stock forfeitures in the period they occur. Share-based compensation expense of $158,000 and $292,000 was recognized for the three September 30, 2022, 2021, nine September 30, 2022, 2021, September 30, 2022, 2021, Total unrecognized stock compensation cost related to non-vested share-based compensation on restricted stock as of September 30, 2022 2022, 2023, 2024, 2025. |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4 The Company provides a dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the average shares outstanding. Diluted earnings per share adds the dilutive effects of stock options and restricted stock to average shares outstanding. The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings-per-share computation. For the Three For the Nine Months Ended Months Ended September 30, September 30, 2022 2021 2022 2021 Weighted-average common shares issued 7,350,616 7,329,548 7,345,520 7,323,936 Average treasury stock shares (1,557,843 ) (1,192,900 ) (1,504,763 ) (1,058,133 ) Weighted-average common shares and common stock equivalents used to calculate basic earnings per share 5,792,773 6,136,648 5,840,757 6,265,803 Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share 13,026 20,533 13,026 21,753 Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 5,805,799 6,157,181 5,853,783 6,287,556 Outstanding on September 30, 2022, Outstanding on September 30, 2021 When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the treasury share reserve. The reserve for the Company’s treasury shares comprises the cost of the Company’s shares held by the Company. As of September 30, 2022, December 31, 2021. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5 Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. GAAP establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following levels: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no not two This hierarchy requires the use of observable market data when available. The following tables present the assets measured on a recurring basis on the Consolidated Balance Sheet at their fair value by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2022 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 20,366 $ 10,147 $ 30,513 Obligations of states and political subdivisions - 123,714 - 123,714 Mortgage-backed securities in government-sponsored entities - 7,837 - 7,837 Total debt securities - 151,917 10,147 162,064 Equity securities in financial institutions 972 - - 972 Total $ 972 $ 151,917 $ 10,147 $ 163,036 December 31, 2021 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 20,337 $ 12,200 $ 32,537 Obligations of states and political subdivisions - 127,345 - 127,345 Mortgage-backed securities in government-sponsored entities - 10,317 - 10,317 Total debt securities - 157,999 12,200 170,199 Equity securities in financial institutions 818 - - 818 Total $ 818 $ 157,999 $ 12,200 $ 171,017 Investment Securities Available for Sale While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of specific financial instruments could result in a different estimate of fair value at the reporting date. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not not may Equity Securities no not The following table presents the fair value reconciliation of Level 3 (Dollar amounts in thousands) Subordinated debt Balance as of January 1, 2022 $ 12,200 Transfers into Level III (1) 500 Transfers out of Level III (1) (2,250 ) Net unrealized holding gain on available-for-sale investment securities (303 ) Balance as of September 30, 2022 $ 10,147 ( 1 Transfers between hierarchy levels are based on the availability of sufficient observable inputs to meet Level II versus Level III criteria. The level designation of each financial instrument is reassessed at the end of each period. The following tables present the assets measured on a non-recurring basis on the Consolidated Balance Sheet at their fair value by level within the fair value hierarchy. Collateral-dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken to the property’s value after the initial measurement. September 30, 2022 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Other real estate owned - - $ 6,792 $ 6,792 December 31, 2021 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 4,162 $ 4,162 Impaired Loans third may not not December 31, 2021. Other Real Estate Owned (OREO) no not not may The following tables present additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company uses Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) September 30, 2022 Other real estate owned $ 6,792 Appraisal of collateral (1) Appraisal adjustments (2) 14.2% Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2021 Impaired loans $ 4,162 Appraisal of collateral (1) Appraisal adjustments (2) 25.0% to 72.2% (36.6%) ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs that are not ( 2 Appraisals may The estimated fair value of the Company’s financial instruments not September 30, 2022 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Net loans $ 980,663 - - $ 958,067 $ 958,067 Financial liabilities: Deposits $ 1,130,487 $ 953,305 $ - $ 171,874 $ 1,125,179 Other borrowings 12,107 - - 12,107 12,107 December 31, 2021 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Loans held for sale $ 1,051 - $ 1,051 $ - $ 1,051 Net loans 967,349 - - 961,645 961,645 Financial liabilities: Deposits $ 1,166,610 $ 967,885 $ - $ 199,503 $ 1,167,388 Other borrowings 12,901 - - 12,901 12,901 Included within other borrowings is an $8.2 million note payable, which matures in December 2037. In addition to the financial instruments included in the above tables, cash and cash equivalents, bank-owned life insurance, Federal Home Loan Bank stock, accrued interest receivable, short-term borrowings, and accrued interest payable, are carried at cost, which approximates the fair value of the instruments. |
Note 6 - Accumulated Other Comp
Note 6 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 6 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in accumulated other comprehensive income (loss) (“AOCI”) by component, net of tax, for the three nine September 30, 2022, 2021, (Dollars in thousands) Unrealized (losses)/gains on available-for-sale securities (a) Balance as of June 30, 2022 $ (17,591 ) Other comprehensive loss (7,489 ) Balance at September 30, 2022 $ (25,080 ) Balance as of December 31, 2021 $ 3,462 Other comprehensive loss (28,542 ) Balance at September 30, 2022 $ (25,080 ) (Dollars in thousands) Unrealized (losses)/gains on available-for-sale securities (a) Balance as of June 30, 2021 $ 3,893 Other comprehensive loss (283 ) Balance at September 30, 2021 $ 3,610 Balance as of December 31, 2020 $ 4,284 Other comprehensive loss (674 ) Balance at September 30, 2021 $ 3,610 (a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. There were no other reclassifications of amounts from accumulated other comprehensive income for the three nine September 30, 2022, 2021. |
Note 7 - Investment and Equity
Note 7 - Investment and Equity Securities | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 7 INVESTMENT AND EQUITY SECURITIES The amortized cost and fair values of investment securities available for sale are as follows: September 30, 2022 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 32,300 $ 6 $ (1,793 ) $ 30,513 Obligations of states and political subdivisions: Taxable 500 - - 500 Tax-exempt 152,297 24 (29,107 ) 123,214 Mortgage-backed securities in government-sponsored entities 8,714 4 (881 ) 7,837 Total $ 193,811 $ 34 $ (31,781 ) $ 162,064 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 32,300 $ 356 $ (119 ) $ 32,537 Obligations of states and political subdivisions: Taxable 500 2 - 502 Tax-exempt 122,877 4,307 (341 ) 126,843 Mortgage-backed securities in government-sponsored entities 10,140 257 (80 ) 10,317 Total $ 165,817 $ 4,922 $ (540 ) $ 170,199 Equity securities totaled $972,000 and $818,000 at September 30, 2022 December 31, 2021, The Company recognized a net loss on equity investments of $57,000 and $96,000, respectively, for the three nine September 30, 2022. three nine September 30, 2021. No The amortized cost and fair value of debt securities at September 30, 2022, may Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 601 $ 603 Due after one year through five years 2,709 2,671 Due after five years through ten years 45,209 42,783 Due after ten years 145,292 116,007 Total $ 193,811 $ 162,064 There were no securities sold during the three nine September 30, 2022, 2021, Investment securities with an approximate carrying value of $87.7 million and $77.1 million on September 30, 2022, December 31, 2021, The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. September 30, 2022 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollar amounts in thousands) Value Losses Value Losses Value Losses Subordinated debt $ 21,957 $ (993 ) $ 8,050 $ (800 ) $ 30,007 $ (1,793 ) Obligations of states and political subdivisions: Tax-exempt 104,880 (24,096 ) 11,242 (5,011 ) 116,122 (29,107 ) Mortgage-backed securities in government-sponsored entities 5,954 (533 ) 1,332 (348 ) 7,286 (881 ) Total $ 132,791 $ (25,622 ) $ 20,624 $ (6,159 ) $ 153,415 $ (31,781 ) December 31, 2021 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollar amounts in thousands) Value Losses Value Losses Value Losses Subordinated debt $ 9,150 $ (100 ) $ 731 $ (19 ) $ 9,881 $ (119 ) Obligations of states and political subdivisions: Tax-exempt 24,273 (341 ) - - 24,273 (341 ) Mortgage-backed securities in government-sponsored entities - - 1,980 (80 ) 1,980 (80 ) Total $ 33,423 $ (441 ) $ 2,711 $ (99 ) $ 36,134 $ (540 ) There were 174 securities in an unrealized loss position for less than twelve twelve September 30, 2022. Every quarter, the Company assesses whether there have been any events or economic circumstances indicating that a security with an unrealized loss has suffered other-than-temporary impairment (“OTTI”). A debt security is considered impaired if the fair value is less than its amortized cost basis at the reporting date. The Company assesses whether the unrealized loss is other than temporary. OTTI losses are recognized in earnings when the Company has the intent to sell the debt security or it is more likely than not not An unrealized loss is generally deemed to be other than temporary and a credit loss is deemed to exist if the present value of the expected future cash flows is less than the amortized cost basis of the debt security. As a result, the credit loss of an OTTI is recorded as a component of investment securities gains (losses) in the accompanying Consolidated Statement of Income, while the remaining portion of the impairment loss is recognized in other comprehensive income, provided the Company does not not” not Debt securities issued by U.S. government agencies, U.S. government-sponsored enterprises, and state and political subdivisions accounted for 81% of the total available-for-sale portfolio as of September 30, 2022, no • The length of time and the extent to which the fair value has been less than the amortized cost basis; • Changes in the near-term prospects of the underlying collateral of a security, such as changes in default rates, loss severity given default, and significant changes in prepayment assumptions; • The level of cash flows generated from the underlying collateral supporting the principal and interest payments of the debt securities; and • Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the overall financial condition of the issuer, credit ratings, recent legislation and government actions affecting the issuer’s industry, and actions taken by the issuer to deal with the present economic climate. For the three nine September 30, 2022, 2021, not September 30, 2022, December 31, 2021, not |
Note 8 - Loans and Related Allo
Note 8 - Loans and Related Allowance for Loan and Lease Losses | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 8 The Company’s primary business activity is with customers located within its local Northeastern Ohio trade area, eastern Geauga County, and contiguous counties. The Company also serves the central Ohio market with offices in Dublin, Plain City, Powell, Sunbury, and Westerville, Ohio. Commercial, residential, consumer, and agricultural loans are granted. Although the Company has a diversified loan portfolio, loans outstanding to individuals and businesses are dependent upon the local economic conditions in the Company’s immediate trade area. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances net of the allowance for loan and lease losses. Interest income is recognized on the accrual method. The accrual of interest is discontinued on a loan when management believes, after considering economic and business conditions, the borrower’s financial condition is such that the collection of interest is doubtful. Interest payments received on nonaccrual loans are applied against the unpaid principal balance until accrual status is restored. Loan origination fees and certain direct loan origination costs are deferred with the net amount amortized over the contractual life of the loan as an adjustment of the related loan’s yield. The following tables summarize the primary segments of the loan portfolio and allowance for loan and lease losses (in thousands): September 30, 2022 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 5,387 $ 115,525 $ 120,912 Non-owner occupied 14,140 271,279 285,419 Multifamily - 38,063 38,063 Residential real estate 892 246,720 247,612 Commercial and industrial 1,763 145,224 146,987 Home equity lines of credit 246 114,098 114,344 Construction and other - 33,748 33,748 Consumer installment - 8,110 8,110 Total $ 22,428 $ 972,767 $ 995,195 December 31, 2021 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 731 $ 110,739 $ 111,470 Non-owner occupied 5,297 278,321 283,618 Multifamily - 31,189 31,189 Residential real estate 1,104 238,985 240,089 Commercial and industrial 587 148,225 148,812 Home equity lines of credit 250 104,105 104,355 Construction and other - 54,148 54,148 Consumer installment - 8,010 8,010 Total $ 7,969 $ 973,722 $ 981,691 The amounts above include net deferred loan origination fees of $1.9 million and $3.6 million on September 30, 2022, December 31, 2021, September 30, 2022, December 31, 2021, September 30, 2022 Ending Allowance Balance by Impairment Evaluation: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 36 $ 1,848 $ 1,884 Non-owner occupied 310 5,388 5,698 Multifamily - 623 623 Residential real estate 13 2,236 2,249 Commercial and industrial 306 1,426 1,732 Home equity lines of credit 1 1,892 1,893 Construction and other - 429 429 Consumer installment - 24 24 Total $ 666 $ 13,866 $ 14,532 December 31, 2021 Ending Allowance Balance by Impairment Evaluation: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 10 $ 1,826 $ 1,836 Non-owner occupied 655 6,776 7,431 Multifamily - 454 454 Residential real estate 17 1,723 1,740 Commercial and industrial 42 840 882 Home equity lines of credit 16 1,436 1,452 Construction and other - 533 533 Consumer installment - 14 14 Total $ 740 $ 13,602 $ 14,342 The Company’s loan portfolio is segmented to a level that allows management to monitor risk and performance. The portfolio is segmented into Commercial Real Estate (“CRE”), which is further segmented into Owner Occupied (“CRE OO”), Non-owner Occupied (“CRE NOO”), and Multifamily Residential, Residential Real Estate (“RRE”), Commercial and Industrial (“C&I”), Home Equity Lines of Credit (“HELOC”), Construction and Other (“Construction”), and Consumer Installment Loans. The commercial real estate loan segments consist of loans made to finance the activities of commercial real estate owners and operators. The residential real estate and HELOC loan segments consist of loans made to finance the activities of residential homeowners. The C&I loan segment consists of loans made to finance the activities of commercial customers. The consumer loan segment consists primarily of installment loans and overdraft lines of credit connected with customer deposit accounts. The increases in the allowance for loan loss for the C&I, RRE, and HELOC portfolios were partially offset by a decrease in the allowance for the CRE, Construction, and Consumer Installment portfolios. Management evaluates individual loans in all of the commercial segments for possible impairment based on guidelines established by the Board of Directors. Loans are considered to be impaired when, based on current information and events, the Company will probably be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall concerning the principal and interest owed. The Company does not Once the determination has been made that a loan is impaired, the determination of whether a specific allocation of the allowance is necessary is measured by comparing the recorded investment in the loan to the fair value of the loan using one not The following tables present impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not September 30, 2022 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Non-owner occupied $ 1,085 $ 1,821 $ - Residential real estate 573 635 - Commercial and industrial 242 354 - Home equity lines of credit 113 113 - Total $ 2,013 $ 2,923 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 5,387 $ 5,387 $ 36 Non-owner occupied 13,055 13,124 310 Residential real estate 319 319 13 Commercial and industrial 1,521 1,521 306 Home equity lines of credit 133 133 1 Total $ 20,415 $ 20,484 $ 666 Total: Commercial real estate: Owner occupied $ 5,387 $ 5,387 $ 36 Non-owner occupied 14,140 14,945 310 Residential real estate 892 954 13 Commercial and industrial 1,763 1,875 306 Home equity lines of credit 246 246 1 Total $ 22,428 $ 23,407 $ 666 December 31, 2021 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Non-owner occupied $ 1,547 $ 1,802 $ - Residential real estate 820 874 - Commercial and industrial 370 538 - Home equity lines of credit 7 7 - Total $ 2,744 $ 3,221 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 731 $ 731 $ 10 Non-owner occupied 3,750 4,277 655 Residential real estate 284 284 17 Commercial and industrial 217 230 42 Home equity lines of credit 243 243 16 Total $ 5,225 $ 5,765 $ 740 Total: Commercial real estate: Owner occupied $ 731 $ 731 $ 10 Non-owner occupied 5,297 6,079 655 Residential real estate 1,104 1,158 17 Commercial and industrial 587 768 42 Home equity lines of credit 250 250 16 Total $ 7,969 $ 8,986 $ 740 The tables above include troubled debt restructuring totaling $2.8 million and $2.6 million as of September 30, 2022, December 31, 2021, September 30, 2022, December 31, 2021, The following tables present the average balance and interest income by class, recognized on impaired loans (in thousands): For the Three Months Ended September 30, 2022 For the Nine Months Ended September 30, 2022 Average Interest Average Interest Recorded Investment Income Recognized Recorded Investment Income Recognized Commercial real estate: Owner occupied $ 3,044 $ 119 $ 1,884 $ 142 Non-owner occupied 9,637 340 7,446 455 Residential real estate 934 10 992 35 Commercial and industrial 1,806 37 1,207 102 Home equity lines of credit 247 4 248 9 Total $ 15,668 $ 510 $ 11,777 $ 743 For the Three Months Ended September 30, 2021 For the Nine Months Ended September 30, 2021 Average Interest Average Interest Recorded Investment Income Recognized Recorded Investment Income Recognized Commercial real estate: Owner occupied $ 1,428 $ 14 $ 1,485 $ 45 Non-owner occupied 5,419 34 4,955 101 Residential real estate 1,190 18 1,234 42 Commercial and industrial 694 9 807 22 Home equity lines of credit 245 6 244 9 Total $ 8,976 $ 81 $ 8,725 $ 219 Management uses a nine first five not not not To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as payment delinquency, bankruptcy, repossession, or death, occurs to raise awareness of a possible credit quality loss. The Company’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. The Credit Department performs an annual review of all commercial relationships with loan balances of $750,000 or greater. Confirmation of the appropriate risk grade is included in the review on an ongoing basis. The Company engages an external consultant to conduct loan reviews on a semiannual basis. Generally, the external consultant reviews a sample of commercial relationships greater than $250,000 and criticized relationships greater than $150,000. Detailed reviews, including plans for resolution, are performed on criticized loans on at least a quarterly basis. Loans in the Special Mention and Substandard categories that are collectively evaluated for impairment are given separate consideration in the determination of the allowance. The primary risk of commercial and industrial loans is related to deterioration in the cash flow of the business, which may The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk-rating system (in thousands): Special Total September 30, 2022 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 111,173 $ 1,164 $ 8,575 $ - $ 120,912 Non-owner occupied 242,133 215 43,071 - 285,419 Multifamily 38,063 - - - 38,063 Residential real estate 245,278 - 2,334 - 247,612 Commercial and industrial 140,328 3,641 3,018 - 146,987 Home equity lines of credit 113,337 - 1,007 - 114,344 Construction and other 33,359 319 70 - 33,748 Consumer installment 8,071 - 39 - 8,110 Total $ 931,742 $ 5,339 $ 58,114 $ - $ 995,195 Special Total December 31, 2021 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 104,217 $ 2,400 $ 4,853 $ - $ 111,470 Non-owner occupied 230,672 3,038 49,908 - 283,618 Multifamily 31,189 - - - 31,189 Residential real estate 237,132 - 2,957 - 240,089 Commercial and industrial 143,911 2,748 2,153 - 148,812 Home equity lines of credit 103,296 - 1,059 - 104,355 Construction and other 53,807 341 - - 54,148 Consumer installment 8,005 - 5 - 8,010 Total $ 912,229 $ 8,527 $ 60,935 $ - $ 981,691 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. Nonperforming assets are nonaccrual loans, including nonaccrual troubled debt restructurings (“TDR”), loans 90 The following tables present the aging of the recorded investment in past-due loans by class of loans (in thousands): 30-59 Days 60-89 Days 90 Days+ Total Total September 30, 2022 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 120,885 $ 27 $ - $ - $ 27 $ 120,912 Non-owner occupied 285,258 - - 161 161 285,419 Multifamily 38,063 - - - - 38,063 Residential real estate 246,058 1,179 - 375 1,554 247,612 Commercial and industrial 146,805 41 127 14 182 146,987 Home equity lines of credit 114,156 159 - 29 188 114,344 Construction and other 33,748 - - - - 33,748 Consumer installment 7,925 149 36 - 185 8,110 Total $ 992,898 $ 1,555 $ 163 $ 579 $ 2,297 $ 995,195 30-59 Days 60-89 Days 90 Days+ Total Total December 31, 2021 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 111,257 $ 81 $ 132 $ - $ 213 $ 111,470 Non-owner occupied 282,365 880 - 373 1,253 283,618 Multifamily 31,189 - - - - 31,189 Residential real estate 238,483 1,187 - 419 1,606 240,089 Commercial and industrial 148,437 112 - 263 375 148,812 Home equity lines of credit 104,316 - 39 - 39 104,355 Construction and other 54,148 - - - - 54,148 Consumer installment 7,799 16 19 176 211 8,010 Total $ 977,994 $ 2,276 $ 190 $ 1,231 $ 3,697 $ 981,691 The following tables present the recorded investment in nonaccrual loans and loans past due over 89 90+ Days Past Due September 30, 2022 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 71 $ - Non-owner occupied 1,450 - Residential real estate 1,568 - Commercial and industrial 197 - Home equity lines of credit 131 - Construction and other 70 - Consumer installment 205 - Total $ 3,692 $ - 90+ Days Past Due December 31, 2021 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 81 $ - Non-owner occupied 2,442 - Residential real estate 1,577 - Commercial and industrial 456 - Home equity lines of credit 121 - Consumer installment 182 - Total $ 4,859 $ - Interest income that would have been recorded had these loans not three nine September 30, 2022, not three nine September 30, 2021, An allowance for loan and lease losses (“ALLL”) is maintained to absorb losses from the loan portfolio. The ALLL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification, and size of the portfolio, adequacy of collateral, past and anticipated loss experience, and the amount of nonperforming loans. The Company’s methodology for determining the ALLL is based on the requirements of ASC Section 310 10 35 450 20 two may Loans that are collectively evaluated for impairment are analyzed with general allowances being made as appropriate. For general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative factors. The classes described above, which are based on the purpose code assigned to each loan, provide the starting point for the ALLL analysis. Management tracks the historical net charge-off activity at the call code level. The historical charge-off factor was calculated using the last twelve Management has identified several additional qualitative factors which it uses to supplement the historical charge-off factor because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources are national and local economic trends and conditions; levels of and trends in delinquency rates and nonaccrual loans; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; the value of underlying collateral; and concentrations of credit from a loan type, industry, and geographic standpoint. Management reviews the loan portfolio quarterly using a defined, consistently applied process to make appropriate and timely adjustments to the ALLL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALLL. The following tables summarize the ALLL within the primary segments of the loan portfolio and the activity within those segments (in thousands): For the nine months ended September 30, 2022 Allowance for Loan and Lease Losses Balance Balance December 31, 2021 Charge-offs Recoveries Provision September 30, 2022 Loans: Commercial real estate: Owner occupied $ 1,836 $ - $ 4 $ 44 $ 1,884 Non-owner occupied 7,431 (150 ) $ - $ (1,583 ) $ 5,698 Multifamily 454 - $ - $ 169 $ 623 Residential real estate 1,740 - $ 61 $ 448 $ 2,249 Commercial and industrial 882 (30 ) $ 269 $ 611 $ 1,732 Home equity lines of credit 1,452 (25 ) $ - $ 466 $ 1,893 Construction and other 533 - $ - $ (104 ) $ 429 Consumer installment 14 (46 ) $ 107 $ (51 ) $ 24 Total $ 14,342 $ (251 ) $ 441 $ 0 $ 14,532 For the nine months ended September 30, 2021 Allowance for Loan and Lease Losses Balance Balance December 31, 2020 Charge-offs Recoveries Provision September 30, 2021 Loans: Commercial real estate: Owner occupied $ 1,342 $ - $ 44 $ 166 $ 1,552 Non-owner occupied 6,817 (313 ) - 1,196 7,700 Multifamily 461 - - (63 ) 398 Residential real estate 1,683 (27 ) 4 15 1,675 Commercial and industrial 1,353 - 70 (264 ) 1,159 Home equity lines of credit 1,405 - 55 (132 ) 1,328 Construction and other 378 - 46 (33 ) 391 Consumer installment 20 (102 ) 98 15 31 Total $ 13,459 $ (442 ) $ 317 $ 900 $ 14,234 For the three months ended September 30, 2022 Allowance for Loan and Lease Losses Balance Balance June 30, 2022 Charge-offs Recoveries Provision September 30, 2022 Loans: Commercial real estate: Owner occupied $ 1,803 $ - $ 1 $ 80 $ 1,884 Non-owner occupied 7,347 (150 ) - (1,499 ) 5,698 Multifamily 416 - - 207 623 Residential real estate 1,853 - 34 362 2,249 Commercial and industrial 1,213 - 61 458 1,732 Home equity lines of credit 1,495 - - 398 1,893 Construction and other 399 - - 30 429 Consumer installment 24 - 36 (36 ) 24 Total $ 14,550 $ (150 ) $ 132 $ - $ 14,532 For the three months ended September 30, 2021 Allowance for Loan and Lease Losses Balance Balance June 30, 2021 Charge-offs Recoveries Provision September 30, 2021 Loans: Commercial real estate: Owner occupied $ 1,525 $ - $ 1 $ 26 $ 1,552 Non-owner occupied 7,624 (50 ) 0 126 7,700 Multifamily 449 - 0 (51 ) 398 Residential real estate 1,792 - 1 (118 ) 1,675 Commercial and industrial 1,123 - 19 17 1,159 Home equity lines of credit 1,261 - 3 64 1,328 Construction and other 408 - 18 (35 ) 391 Consumer installment 18 - 42 (29 ) 31 Total $ 14,200 $ (50 ) $ 84 $ 0 $ 14,234 The provision fluctuations during the three nine September 30, 2022, ● non-owner occupied commercial loans due to a decrease in special mention and substandard credits. ● commercial and industrial loans are due to an increase in loans, excluding the impact of PPP forgiveness, coupled with an increase in the specific reserve on impaired loans. ● residential loans and home equity lines of credit are due to an increase in outstanding balances. The provision fluctuations during the nine September 30, 2021, ● non-owner occupied commercial real estate loans are due to exposure to the substandard rate credits related to the hospitality industry. ● commercial and industrial loans are due to a decrease in outstanding balances as PPP loans receive forgiveness. ● home equity lines of credit are due to a decrease in outstanding balances. The provision fluctuations during the three September 30, 2021, ● non-owner occupied commercial real estate loans are due to exposure to the substandard rate credits related to the hospitality industry. ● residential loans are due to a decrease in special mention and substandard credits. ● home equity lines of credit are due to a decrease in outstanding balances. TDR describes loans on which the bank has granted concessions for reasons related to the customer’s financial difficulties. Such concessions may one ● reduction in the interest rate to below-market rates ● extension of repayment requirements beyond normal terms ● reduction of the principal amount owed ● reduction of accrued interest due ● acceptance of other assets in full or partial payment of a debt In each case, the concession is made due to deterioration in the borrower’s financial condition, and the new terms are less stringent than those required on a new loan with similar risk. The following tables present the number of loan modifications by class, the corresponding recorded investment, and the subsequently defaulted modifications (in thousands) for the periods ended: For the Three Months Ended September 30, 2022 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Troubled Debt Restructurings Modification Other Total Investment Investment Commercial and industrial 1 - 1 $ 27 $ 27 For the Nine Months Ended September 30. 2022 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Modification Other Total Investment Investment Commercial and industrial 3 - 3 $ 1,252 $ 1,252 There were no three nine September 30, 2021. There were no subsequent defaults of troubled debt restructurings for the three nine September 30, 2022. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 9 COMMITMENTS AND CONTINGENCIES Cannabis Industry We provide deposit services to customers that are licensed by the State of Ohio to do business in (or are related to) the Medical Marijuana Control Program as growers, processors, and dispensaries. Medical Marijuana businesses are regulated by the Ohio Department of Commerce and legal in the State of Ohio, although it is not 2014 While we believe we are operating in compliance with the FinCEN guidelines, there can be no not no not may may no |
Note 10 - Proposed Acquisition
Note 10 - Proposed Acquisition of Liberty Bancshares | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 10 PROPOSED ACQUISITION OF LIBERTY BANCSHARES On May 26, 2022, Under the terms and subject to the conditions of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of the voting common stock, $1.25 par value per share, and each share of non-voting common stock, no par value, of Liberty (the “Liberty Common Stock”) issued and outstanding immediately prior to the Effective Time, will be converted, in accordance with the procedures set forth in the Merger Agreement, into the right to receive, without interest, 2.752 shares (the “Exchange Ratio” and such shares, the “Merger Consideration”) of the common stock, no par value per share, of the Company (the “Company Common Stock”). The Merger Agreement provides that an outstanding and unexercised warrant issued to Castle Creek Partners VI, LP (“Castle Creek”) to purchase shares of Liberty convertible perpetual preferred stock, Series A, shall be canceled and converted into the right to receive the Merger Consideration. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments first December 15, 2022, one first one Current Expected Credit Loss (CECL) Adoption 326, not In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2022, not In November 2019, 2019 11, Codification Improvements to Topic 326, Credit Losses 326, not 2016 13 November 26, 2019, 2019 11 2016 13. 2016 13, 2019 11 December 15, 2019, not In January 2020, 2020 04, Reference Rate Reform (Topic 848 March 2020 not not one December 31, 2022. In March 2022, 2022 02, Financial Instruments Credit Losses (Topic 326 326, 310 40, 310 20 35 9 35 11 326 20, 2016 13. In June 2022, 2022 03, Fair Value Measurement (Topic 820 not not December 15, 2023. 2022 03 not |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification of Comparative Amounts Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, Noninterest Income 2022 2021 2022 2021 (Dollar amounts in thousands) Service charges on deposit accounts: Overdraft fees $ 237 $ 192 $ 661 $ 523 ATM banking fees 397 354 1,065 1,026 Service charges and other fees 370 330 1,148 970 (Loss) gain on equity securities (a) (57 ) 102 (96 ) 223 Earnings on bank-owned life insurance (a) 108 108 322 440 Gain on sale of loans (a) 7 309 28 1,122 Revenue from investment services 233 190 527 529 Miscellaneous Fee income 83 75 222 192 Other income 168 161 455 646 Total noninterest income $ 1,546 $ 1,821 $ 4,332 $ 5,671 Net loss (gain) on other real estate owned $ 1 $ 9 $ 215 $ 77 |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted- average Grant Date Fair Units Value Per Unit Nonvested at January 1, 2022 76,933 $ 23.01 Granted 25,414 24.80 Vested (25,263 ) 20.95 Forfeited (13,438 ) - Nonvested at September 30, 2022 63,646 $ 24.34 Expected to vest as of September 30, 2022 57,271 $ 24.27 |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | For the Three For the Nine Months Ended Months Ended September 30, September 30, 2022 2021 2022 2021 Weighted-average common shares issued 7,350,616 7,329,548 7,345,520 7,323,936 Average treasury stock shares (1,557,843 ) (1,192,900 ) (1,504,763 ) (1,058,133 ) Weighted-average common shares and common stock equivalents used to calculate basic earnings per share 5,792,773 6,136,648 5,840,757 6,265,803 Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share 13,026 20,533 13,026 21,753 Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 5,805,799 6,157,181 5,853,783 6,287,556 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2022 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 20,366 $ 10,147 $ 30,513 Obligations of states and political subdivisions - 123,714 - 123,714 Mortgage-backed securities in government-sponsored entities - 7,837 - 7,837 Total debt securities - 151,917 10,147 162,064 Equity securities in financial institutions 972 - - 972 Total $ 972 $ 151,917 $ 10,147 $ 163,036 December 31, 2021 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 20,337 $ 12,200 $ 32,537 Obligations of states and political subdivisions - 127,345 - 127,345 Mortgage-backed securities in government-sponsored entities - 10,317 - 10,317 Total debt securities - 157,999 12,200 170,199 Equity securities in financial institutions 818 - - 818 Total $ 818 $ 157,999 $ 12,200 $ 171,017 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (Dollar amounts in thousands) Subordinated debt Balance as of January 1, 2022 $ 12,200 Transfers into Level III (1) 500 Transfers out of Level III (1) (2,250 ) Net unrealized holding gain on available-for-sale investment securities (303 ) Balance as of September 30, 2022 $ 10,147 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | September 30, 2022 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Other real estate owned - - $ 6,792 $ 6,792 December 31, 2021 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 4,162 $ 4,162 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) September 30, 2022 Other real estate owned $ 6,792 Appraisal of collateral (1) Appraisal adjustments (2) 14.2% Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2021 Impaired loans $ 4,162 Appraisal of collateral (1) Appraisal adjustments (2) 25.0% to 72.2% (36.6%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2022 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Net loans $ 980,663 - - $ 958,067 $ 958,067 Financial liabilities: Deposits $ 1,130,487 $ 953,305 $ - $ 171,874 $ 1,125,179 Other borrowings 12,107 - - 12,107 12,107 December 31, 2021 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Loans held for sale $ 1,051 - $ 1,051 $ - $ 1,051 Net loans 967,349 - - 961,645 961,645 Financial liabilities: Deposits $ 1,166,610 $ 967,885 $ - $ 199,503 $ 1,167,388 Other borrowings 12,901 - - 12,901 12,901 |
Note 6 - Accumulated Other Co_2
Note 6 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized (losses)/gains on available-for-sale securities (a) Balance as of June 30, 2022 $ (17,591 ) Other comprehensive loss (7,489 ) Balance at September 30, 2022 $ (25,080 ) Balance as of December 31, 2021 $ 3,462 Other comprehensive loss (28,542 ) Balance at September 30, 2022 $ (25,080 ) (Dollars in thousands) Unrealized (losses)/gains on available-for-sale securities (a) Balance as of June 30, 2021 $ 3,893 Other comprehensive loss (283 ) Balance at September 30, 2021 $ 3,610 Balance as of December 31, 2020 $ 4,284 Other comprehensive loss (674 ) Balance at September 30, 2021 $ 3,610 |
Note 7 - Investment and Equit_2
Note 7 - Investment and Equity Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | September 30, 2022 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 32,300 $ 6 $ (1,793 ) $ 30,513 Obligations of states and political subdivisions: Taxable 500 - - 500 Tax-exempt 152,297 24 (29,107 ) 123,214 Mortgage-backed securities in government-sponsored entities 8,714 4 (881 ) 7,837 Total $ 193,811 $ 34 $ (31,781 ) $ 162,064 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 32,300 $ 356 $ (119 ) $ 32,537 Obligations of states and political subdivisions: Taxable 500 2 - 502 Tax-exempt 122,877 4,307 (341 ) 126,843 Mortgage-backed securities in government-sponsored entities 10,140 257 (80 ) 10,317 Total $ 165,817 $ 4,922 $ (540 ) $ 170,199 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 601 $ 603 Due after one year through five years 2,709 2,671 Due after five years through ten years 45,209 42,783 Due after ten years 145,292 116,007 Total $ 193,811 $ 162,064 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2022 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollar amounts in thousands) Value Losses Value Losses Value Losses Subordinated debt $ 21,957 $ (993 ) $ 8,050 $ (800 ) $ 30,007 $ (1,793 ) Obligations of states and political subdivisions: Tax-exempt 104,880 (24,096 ) 11,242 (5,011 ) 116,122 (29,107 ) Mortgage-backed securities in government-sponsored entities 5,954 (533 ) 1,332 (348 ) 7,286 (881 ) Total $ 132,791 $ (25,622 ) $ 20,624 $ (6,159 ) $ 153,415 $ (31,781 ) December 31, 2021 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollar amounts in thousands) Value Losses Value Losses Value Losses Subordinated debt $ 9,150 $ (100 ) $ 731 $ (19 ) $ 9,881 $ (119 ) Obligations of states and political subdivisions: Tax-exempt 24,273 (341 ) - - 24,273 (341 ) Mortgage-backed securities in government-sponsored entities - - 1,980 (80 ) 1,980 (80 ) Total $ 33,423 $ (441 ) $ 2,711 $ (99 ) $ 36,134 $ (540 ) |
Note 8 - Loans and Related Al_2
Note 8 - Loans and Related Allowance for Loan and Lease Losses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule Of Financing Receivable By Segment [Table Text Block] | September 30, 2022 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 5,387 $ 115,525 $ 120,912 Non-owner occupied 14,140 271,279 285,419 Multifamily - 38,063 38,063 Residential real estate 892 246,720 247,612 Commercial and industrial 1,763 145,224 146,987 Home equity lines of credit 246 114,098 114,344 Construction and other - 33,748 33,748 Consumer installment - 8,110 8,110 Total $ 22,428 $ 972,767 $ 995,195 December 31, 2021 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 731 $ 110,739 $ 111,470 Non-owner occupied 5,297 278,321 283,618 Multifamily - 31,189 31,189 Residential real estate 1,104 238,985 240,089 Commercial and industrial 587 148,225 148,812 Home equity lines of credit 250 104,105 104,355 Construction and other - 54,148 54,148 Consumer installment - 8,010 8,010 Total $ 7,969 $ 973,722 $ 981,691 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | September 30, 2022 Ending Allowance Balance by Impairment Evaluation: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 36 $ 1,848 $ 1,884 Non-owner occupied 310 5,388 5,698 Multifamily - 623 623 Residential real estate 13 2,236 2,249 Commercial and industrial 306 1,426 1,732 Home equity lines of credit 1 1,892 1,893 Construction and other - 429 429 Consumer installment - 24 24 Total $ 666 $ 13,866 $ 14,532 December 31, 2021 Ending Allowance Balance by Impairment Evaluation: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 10 $ 1,826 $ 1,836 Non-owner occupied 655 6,776 7,431 Multifamily - 454 454 Residential real estate 17 1,723 1,740 Commercial and industrial 42 840 882 Home equity lines of credit 16 1,436 1,452 Construction and other - 533 533 Consumer installment - 14 14 Total $ 740 $ 13,602 $ 14,342 For the nine months ended September 30, 2022 Allowance for Loan and Lease Losses Balance Balance December 31, 2021 Charge-offs Recoveries Provision September 30, 2022 Loans: Commercial real estate: Owner occupied $ 1,836 $ - $ 4 $ 44 $ 1,884 Non-owner occupied 7,431 (150 ) $ - $ (1,583 ) $ 5,698 Multifamily 454 - $ - $ 169 $ 623 Residential real estate 1,740 - $ 61 $ 448 $ 2,249 Commercial and industrial 882 (30 ) $ 269 $ 611 $ 1,732 Home equity lines of credit 1,452 (25 ) $ - $ 466 $ 1,893 Construction and other 533 - $ - $ (104 ) $ 429 Consumer installment 14 (46 ) $ 107 $ (51 ) $ 24 Total $ 14,342 $ (251 ) $ 441 $ 0 $ 14,532 For the nine months ended September 30, 2021 Allowance for Loan and Lease Losses Balance Balance December 31, 2020 Charge-offs Recoveries Provision September 30, 2021 Loans: Commercial real estate: Owner occupied $ 1,342 $ - $ 44 $ 166 $ 1,552 Non-owner occupied 6,817 (313 ) - 1,196 7,700 Multifamily 461 - - (63 ) 398 Residential real estate 1,683 (27 ) 4 15 1,675 Commercial and industrial 1,353 - 70 (264 ) 1,159 Home equity lines of credit 1,405 - 55 (132 ) 1,328 Construction and other 378 - 46 (33 ) 391 Consumer installment 20 (102 ) 98 15 31 Total $ 13,459 $ (442 ) $ 317 $ 900 $ 14,234 For the three months ended September 30, 2022 Allowance for Loan and Lease Losses Balance Balance June 30, 2022 Charge-offs Recoveries Provision September 30, 2022 Loans: Commercial real estate: Owner occupied $ 1,803 $ - $ 1 $ 80 $ 1,884 Non-owner occupied 7,347 (150 ) - (1,499 ) 5,698 Multifamily 416 - - 207 623 Residential real estate 1,853 - 34 362 2,249 Commercial and industrial 1,213 - 61 458 1,732 Home equity lines of credit 1,495 - - 398 1,893 Construction and other 399 - - 30 429 Consumer installment 24 - 36 (36 ) 24 Total $ 14,550 $ (150 ) $ 132 $ - $ 14,532 For the three months ended September 30, 2021 Allowance for Loan and Lease Losses Balance Balance June 30, 2021 Charge-offs Recoveries Provision September 30, 2021 Loans: Commercial real estate: Owner occupied $ 1,525 $ - $ 1 $ 26 $ 1,552 Non-owner occupied 7,624 (50 ) 0 126 7,700 Multifamily 449 - 0 (51 ) 398 Residential real estate 1,792 - 1 (118 ) 1,675 Commercial and industrial 1,123 - 19 17 1,159 Home equity lines of credit 1,261 - 3 64 1,328 Construction and other 408 - 18 (35 ) 391 Consumer installment 18 - 42 (29 ) 31 Total $ 14,200 $ (50 ) $ 84 $ 0 $ 14,234 |
Impaired Financing Receivables [Table Text Block] | September 30, 2022 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Non-owner occupied $ 1,085 $ 1,821 $ - Residential real estate 573 635 - Commercial and industrial 242 354 - Home equity lines of credit 113 113 - Total $ 2,013 $ 2,923 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 5,387 $ 5,387 $ 36 Non-owner occupied 13,055 13,124 310 Residential real estate 319 319 13 Commercial and industrial 1,521 1,521 306 Home equity lines of credit 133 133 1 Total $ 20,415 $ 20,484 $ 666 Total: Commercial real estate: Owner occupied $ 5,387 $ 5,387 $ 36 Non-owner occupied 14,140 14,945 310 Residential real estate 892 954 13 Commercial and industrial 1,763 1,875 306 Home equity lines of credit 246 246 1 Total $ 22,428 $ 23,407 $ 666 December 31, 2021 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Non-owner occupied $ 1,547 $ 1,802 $ - Residential real estate 820 874 - Commercial and industrial 370 538 - Home equity lines of credit 7 7 - Total $ 2,744 $ 3,221 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 731 $ 731 $ 10 Non-owner occupied 3,750 4,277 655 Residential real estate 284 284 17 Commercial and industrial 217 230 42 Home equity lines of credit 243 243 16 Total $ 5,225 $ 5,765 $ 740 Total: Commercial real estate: Owner occupied $ 731 $ 731 $ 10 Non-owner occupied 5,297 6,079 655 Residential real estate 1,104 1,158 17 Commercial and industrial 587 768 42 Home equity lines of credit 250 250 16 Total $ 7,969 $ 8,986 $ 740 |
Schedule of Additional Information Related to Impaired Loans [Table Text Block] | For the Three Months Ended September 30, 2022 For the Nine Months Ended September 30, 2022 Average Interest Average Interest Recorded Investment Income Recognized Recorded Investment Income Recognized Commercial real estate: Owner occupied $ 3,044 $ 119 $ 1,884 $ 142 Non-owner occupied 9,637 340 7,446 455 Residential real estate 934 10 992 35 Commercial and industrial 1,806 37 1,207 102 Home equity lines of credit 247 4 248 9 Total $ 15,668 $ 510 $ 11,777 $ 743 For the Three Months Ended September 30, 2021 For the Nine Months Ended September 30, 2021 Average Interest Average Interest Recorded Investment Income Recognized Recorded Investment Income Recognized Commercial real estate: Owner occupied $ 1,428 $ 14 $ 1,485 $ 45 Non-owner occupied 5,419 34 4,955 101 Residential real estate 1,190 18 1,234 42 Commercial and industrial 694 9 807 22 Home equity lines of credit 245 6 244 9 Total $ 8,976 $ 81 $ 8,725 $ 219 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Total September 30, 2022 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 111,173 $ 1,164 $ 8,575 $ - $ 120,912 Non-owner occupied 242,133 215 43,071 - 285,419 Multifamily 38,063 - - - 38,063 Residential real estate 245,278 - 2,334 - 247,612 Commercial and industrial 140,328 3,641 3,018 - 146,987 Home equity lines of credit 113,337 - 1,007 - 114,344 Construction and other 33,359 319 70 - 33,748 Consumer installment 8,071 - 39 - 8,110 Total $ 931,742 $ 5,339 $ 58,114 $ - $ 995,195 Special Total December 31, 2021 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 104,217 $ 2,400 $ 4,853 $ - $ 111,470 Non-owner occupied 230,672 3,038 49,908 - 283,618 Multifamily 31,189 - - - 31,189 Residential real estate 237,132 - 2,957 - 240,089 Commercial and industrial 143,911 2,748 2,153 - 148,812 Home equity lines of credit 103,296 - 1,059 - 104,355 Construction and other 53,807 341 - - 54,148 Consumer installment 8,005 - 5 - 8,010 Total $ 912,229 $ 8,527 $ 60,935 $ - $ 981,691 |
Financing Receivable, Past Due [Table Text Block] | 30-59 Days 60-89 Days 90 Days+ Total Total September 30, 2022 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 120,885 $ 27 $ - $ - $ 27 $ 120,912 Non-owner occupied 285,258 - - 161 161 285,419 Multifamily 38,063 - - - - 38,063 Residential real estate 246,058 1,179 - 375 1,554 247,612 Commercial and industrial 146,805 41 127 14 182 146,987 Home equity lines of credit 114,156 159 - 29 188 114,344 Construction and other 33,748 - - - - 33,748 Consumer installment 7,925 149 36 - 185 8,110 Total $ 992,898 $ 1,555 $ 163 $ 579 $ 2,297 $ 995,195 30-59 Days 60-89 Days 90 Days+ Total Total December 31, 2021 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 111,257 $ 81 $ 132 $ - $ 213 $ 111,470 Non-owner occupied 282,365 880 - 373 1,253 283,618 Multifamily 31,189 - - - - 31,189 Residential real estate 238,483 1,187 - 419 1,606 240,089 Commercial and industrial 148,437 112 - 263 375 148,812 Home equity lines of credit 104,316 - 39 - 39 104,355 Construction and other 54,148 - - - - 54,148 Consumer installment 7,799 16 19 176 211 8,010 Total $ 977,994 $ 2,276 $ 190 $ 1,231 $ 3,697 $ 981,691 |
Financing Receivable, Nonaccrual [Table Text Block] | 90+ Days Past Due September 30, 2022 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 71 $ - Non-owner occupied 1,450 - Residential real estate 1,568 - Commercial and industrial 197 - Home equity lines of credit 131 - Construction and other 70 - Consumer installment 205 - Total $ 3,692 $ - 90+ Days Past Due December 31, 2021 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 81 $ - Non-owner occupied 2,442 - Residential real estate 1,577 - Commercial and industrial 456 - Home equity lines of credit 121 - Consumer installment 182 - Total $ 4,859 $ - |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | For the Three Months Ended September 30, 2022 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Troubled Debt Restructurings Modification Other Total Investment Investment Commercial and industrial 1 - 1 $ 27 $ 27 For the Nine Months Ended September 30. 2022 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Modification Other Total Investment Investment Commercial and industrial 3 - 3 $ 1,252 $ 1,252 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Interest Income and Noninterest Income, Percent | 89.50% |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Gain on equity securities | [1] | $ (57,000) | $ 102,000 | $ (96,000) | $ 223,000 |
Earnings on bank-owned life insurance | [1] | 108,000 | 108,000 | 322,000 | 440,000 |
Gain on sale of loans | [1] | 7,000 | 309,000 | 28,000 | 1,122,000 |
Revenue from investment services | 233,000 | 190,000 | 527,000 | 529,000 | |
Miscellaneous Fee income | 83,000 | 75,000 | 222,000 | 192,000 | |
Other income | 168,000 | 161,000 | 455,000 | 646,000 | |
Total noninterest income | 1,546,000 | 1,821,000 | 4,332,000 | 5,671,000 | |
Net gain on other real estate owned | [2] | 1,000 | 9,000 | 215,000 | 77,000 |
Overdraft Fees [Member] | |||||
Noninterest income revenue | 237,000 | 192,000 | 661,000 | 523,000 | |
ATM Banking Fees [Member] | |||||
Noninterest income revenue | 397,000 | 354,000 | 1,065,000 | 1,026,000 | |
Service Charge and Other Fees [Member] | |||||
Noninterest income revenue | $ 370,000 | $ 330,000 | $ 1,148,000 | $ 970,000 | |
[1]Not within scope of ASC 606[2]Recognized within noninterest expense |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 0 | 0 | 0 | 0 | ||||
Share-Based Payment Arrangement, Expense | $ 158,000 | $ 292,000 | $ 113,000 | $ 389,000 | ||||
Deferred Compensation Share-Based Arrangements, Liability, Current and Noncurrent | 498,000 | $ 887,000 | 498,000 | $ 887,000 | ||||
Restricted Stock [Member] | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 546,000 | $ 546,000 | ||||||
Restricted Stock [Member] | Forecast [Member] | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 18,000 | $ 149,000 | $ 291,000 | $ 88,000 |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Activity Related to Restricted Stock Units Awarded (Details) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2022 $ / shares shares | |
Nonvested (in shares) | shares | 76,933 |
Nonvested, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 23.01 |
Granted (in shares) | shares | 25,414 |
Granted, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 24.80 |
Vested (in shares) | shares | (25,263) |
Vested, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 20.95 |
Forfeited (in shares) | shares | (13,438) |
Forfeited, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 0 |
Nonvested (in shares) | shares | 63,646 |
Nonvested, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 24.34 |
Expected to vest (in shares) | shares | 57,271 |
Expected to vest, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 24.27 |
Note 4 - Earnings Per Share (De
Note 4 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Treasury Stock, Shares, Total (in shares) | 1,582,813 | 1,582,813 | 1,441,811 | ||
Treasury Stock, Shares, Acquired (in shares) | 45,638 | 165,058 | 141,002 | 346,103 | |
Restricted Stock [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 63,646 | 77,933 | 63,646 | 77,933 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 50,620 | 57,400 |
Note 4 - Earnings Per Share - S
Note 4 - Earnings Per Share - Shares Used in Calculation of Earnings Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Weighted-average common shares issued (in shares) | 7,350,616 | 7,329,548 | 7,345,520 | 7,323,936 |
Average treasury stock shares (in shares) | (1,557,843) | (1,192,900) | (1,504,763) | (1,058,133) |
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 5,792,773 | 6,136,648 | 5,840,757 | 6,265,803 |
Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share (in shares) | 13,026 | 20,533 | 13,026 | 21,753 |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 5,805,799 | 6,157,181 | 5,853,783 | 6,287,556 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurements (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Estimated Selling Costs of Impaired Loans | $ 901,000 | |
Mandatorily Redeemable Securities | $ 8,000,000 | |
Notes Payable, Other Payables [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.67% | |
Other Borrowings [Member] | ||
Notes Payable, Total | $ 8,200,000 |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurements - Assets Measured on a Recurring Basis (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Total debt securities | $ 162,064,000 | $ 170,199,000 |
Equity securities in financial institutions | 972,000 | 818,000 |
Investment securities available for sale, at fair value | 162,064,000 | 170,199,000 |
Subordinated Debt Securities [Member] | ||
Total debt securities | 30,513,000 | 32,537,000 |
Investment securities available for sale, at fair value | 30,513,000 | 32,537,000 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 7,837,000 | 10,317,000 |
Investment securities available for sale, at fair value | 7,837,000 | 10,317,000 |
Fair Value, Recurring [Member] | ||
Total debt securities | 162,064,000 | 170,199,000 |
Equity securities in financial institutions | 972,000 | 818,000 |
Total | 163,036,000 | 171,017,000 |
Investment securities available for sale, at fair value | 162,064,000 | 170,199,000 |
Fair Value, Recurring [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 30,513,000 | 32,537,000 |
Investment securities available for sale, at fair value | 30,513,000 | 32,537,000 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 123,714,000 | 127,345,000 |
Investment securities available for sale, at fair value | 123,714,000 | 127,345,000 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 7,837,000 | 10,317,000 |
Investment securities available for sale, at fair value | 7,837,000 | 10,317,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total debt securities | 0 | 0 |
Equity securities in financial institutions | 972,000 | 818,000 |
Total | 972,000 | 818,000 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total debt securities | 151,917,000 | 157,999,000 |
Equity securities in financial institutions | 0 | 0 |
Total | 151,917,000 | 157,999,000 |
Investment securities available for sale, at fair value | 151,917,000 | 157,999,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 20,366,000 | 20,337,000 |
Investment securities available for sale, at fair value | 20,366,000 | 20,337,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 123,714,000 | 127,345,000 |
Investment securities available for sale, at fair value | 123,714,000 | 127,345,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 7,837,000 | 10,317,000 |
Investment securities available for sale, at fair value | 7,837,000 | 10,317,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total debt securities | 10,147,000 | 12,200,000 |
Equity securities in financial institutions | 0 | 0 |
Total | 10,147,000 | 12,200,000 |
Investment securities available for sale, at fair value | 10,147,000 | 12,200,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 10,147,000 | 12,200,000 |
Investment securities available for sale, at fair value | 10,147,000 | 12,200,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | $ 0 | $ 0 |
Note 5 - Fair Value Measureme_5
Note 5 - Fair Value Measurements - Fair Value Reconciliation of Level 3 Assets (Details) - Subordinated Debt Obligations [Member] $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 USD ($) | ||
Balance as of January 1, 2022 | $ 12,200 | |
Transfers into Level III (1) | 500 | |
Transfers out of Level III (1) | (2,250) | [1] |
Net unrealized holding gain on available-for-sale investment securities | (303) | |
Balance as of September 30, 2022 | $ 10,147 | |
[1]Transfers between hierarchy levels are based on the availability of sufficient observable inputs to meet Level II versus Level II criteria. The level designation of each financial instrument is reassessed at the end of each period. |
Note 5 - Fair Value Measureme_6
Note 5 - Fair Value Measurements - Assets Measured on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Impaired loans | $ 22,428 | $ 7,969 |
Fair Value, Nonrecurring [Member] | ||
Other real estate owned | 6,792 | |
Impaired loans | 4,162 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Other real estate owned | 0 | |
Impaired loans | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Other real estate owned | 0 | |
Impaired loans | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned | $ 6,792 | |
Impaired loans | $ 4,162 |
Note 5 - Fair Value Measureme_7
Note 5 - Fair Value Measurements - Additional Quantitative Information About Assets Measured at Fair Value on Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Other real estate owned | $ 6,792 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Other real estate owned | 6,792 | ||
Fair Value, Inputs, Level 3 [Member] | Appraisal of Collateral [Member] | |||
Other real estate owned | $ 6,792 | ||
Impaired loans, fair value estimate | [1] | $ 4,162 | |
Fair Value, Inputs, Level 3 [Member] | Appraisal of Collateral [Member] | Minimum [Member] | Measurement Input, Appraised Value [Member] | |||
Other real estate owned | 14.2 | ||
Impaired loans | [2] | 25 | |
Fair Value, Inputs, Level 3 [Member] | Appraisal of Collateral [Member] | Maximum [Member] | Measurement Input, Appraised Value [Member] | |||
Impaired loans | [2] | 72.2 | |
Fair Value, Inputs, Level 3 [Member] | Appraisal of Collateral [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | |||
Impaired loans | [2] | (36.6) | |
[1]Fair value is generally determined through independent appraisals of the underlying collateral, which typically include various level III inputs that are not identifiable, less any associated allowance.[2]Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Note 5 - Fair Value Measureme_8
Note 5 - Fair Value Measurements - Estimated Fair Value of the Company's Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Reported Value Measurement [Member] | ||
Financial assets: | ||
Net loans | $ 980,663 | $ 967,349 |
Loans held for sale | 1,051 | |
Financial liabilities: | ||
Deposits | 1,130,487 | 1,166,610 |
Other borrowings | 12,107 | 12,901 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Net loans | 958,067 | 961,645 |
Loans held for sale | 1,051 | |
Financial liabilities: | ||
Deposits | 1,125,179 | 1,167,388 |
Other borrowings | 12,107 | 12,901 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets: | ||
Net loans | 0 | 0 |
Loans held for sale | 0 | |
Financial liabilities: | ||
Deposits | 953,305 | 967,885 |
Other borrowings | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets: | ||
Net loans | 0 | 0 |
Loans held for sale | 1,051 | |
Financial liabilities: | ||
Deposits | 0 | 0 |
Other borrowings | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets: | ||
Net loans | 958,067 | 961,645 |
Loans held for sale | 0 | |
Financial liabilities: | ||
Deposits | 171,874 | 199,503 |
Other borrowings | $ 12,107 | $ 12,901 |
Note 6 - Accumulated Other Co_3
Note 6 - Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Note 6 - Accumulated Other Co_4
Note 6 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Balance | $ 128,220 | $ 146,044 | $ 145,335 | $ 143,810 | |
Other comprehensive income (loss) | (7,489) | (283) | (28,542) | (674) | |
Balance | 122,855 | 146,055 | 122,855 | 146,055 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | |||||
Balance | [1] | (17,591) | 3,893 | 3,462 | 4,284 |
Other comprehensive income (loss) | (7,489) | (283) | (28,542) | (674) | |
Balance | [1] | $ (25,080) | $ 3,610 | $ (25,080) | $ 3,610 |
[1]All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
Note 7 - Investment and Equit_3
Note 7 - Investment and Equity Securities (Details Textual) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | ||
Equity Securities, FV-NI, Current | $ 972,000 | $ 972,000 | $ 818,000 | |||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | [1] | (57,000) | $ 102,000 | (96,000) | $ 223,000 | |
Equity Securities, FV-NI, Realized Gain (Loss), Total | $ 0 | 0 | $ 0 | 0 | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | 174 | 174 | ||||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 28 | 28 | ||||
Available-for-sale Securities, Percentage of Portfolio | 81% | 81% | ||||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-Sale | $ 0 | $ 0 | $ 0 | $ 0 | ||
Asset Pledged as Collateral [Member] | Deposits [Member] | ||||||
Financial Instruments, Owned, at Fair Value, Total | $ 87,700,000 | $ 87,700,000 | $ 77,100,000 | |||
[1]Not within scope of ASC 606 |
Note 7 - Investment and Equit_4
Note 7 - Investment and Equity Securities - Amortized Cost and Fair Values of Securities Available for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Amortized cost | $ 193,811 | $ 165,817 |
Gross unrealized gains | 34 | 4,922 |
Gross unrealized losses | (31,781) | (540) |
Investment securities available for sale, at fair value | 162,064 | 170,199 |
Subordinated Debt Securities [Member] | ||
Amortized cost | 32,300 | 32,300 |
Gross unrealized gains | 6 | 356 |
Gross unrealized losses | (1,793) | (119) |
Investment securities available for sale, at fair value | 30,513 | 32,537 |
Taxable Municipal Bonds [Member] | ||
Amortized cost | 500 | 500 |
Gross unrealized gains | 0 | 2 |
Gross unrealized losses | 0 | 0 |
Investment securities available for sale, at fair value | 500 | 502 |
Nontaxable Municipal Bonds [Member] | ||
Amortized cost | 152,297 | 122,877 |
Gross unrealized gains | 24 | 4,307 |
Gross unrealized losses | (29,107) | (341) |
Investment securities available for sale, at fair value | 123,214 | 126,843 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 8,714 | 10,140 |
Gross unrealized gains | 4 | 257 |
Gross unrealized losses | (881) | (80) |
Investment securities available for sale, at fair value | $ 7,837 | $ 10,317 |
Note 7 - Investment and Equit_5
Note 7 - Investment and Equity Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Due in one year or less, amortized costs | $ 601 | |
Due in one year or less, fair value | 603 | |
Due after one year through five years, amortized costs | 2,709 | |
Due after one year through five years, fair value | 2,671 | |
Due after five years through ten years, amortized costs | 45,209 | |
Due after five years through ten years, fair value | 42,783 | |
Due after ten years, amortized costs | 145,292 | |
Due after ten years, fair value | 116,007 | |
Amortized costs | 193,811 | $ 165,817 |
Fair Value | $ 162,064 | $ 170,199 |
Note 7 - Investment and Equit_6
Note 7 - Investment and Equity Securities - Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Less than Twelve Months, Fair Value | $ 132,791 | $ 33,423 |
Less than Twelve Months, Gross Unrealized Losses | (25,622) | (441) |
Twelve Months or Greater, Fair Value | 20,624 | 2,711 |
Twelve Months or Greater, Gross Unrealized Losses | (6,159) | (99) |
Total, Fair Value | 153,415 | 36,134 |
Total, Gross Unrealized Losses | (31,781) | (540) |
Subordinated Debt Securities [Member] | ||
Less than Twelve Months, Fair Value | 21,957 | 9,150 |
Less than Twelve Months, Gross Unrealized Losses | (993) | (100) |
Twelve Months or Greater, Fair Value | 8,050 | 731 |
Twelve Months or Greater, Gross Unrealized Losses | (800) | (19) |
Total, Fair Value | 30,007 | 9,881 |
Total, Gross Unrealized Losses | (1,793) | (119) |
Nontaxable Municipal Bonds [Member] | ||
Less than Twelve Months, Fair Value | 104,880 | 24,273 |
Less than Twelve Months, Gross Unrealized Losses | (24,096) | (341) |
Twelve Months or Greater, Fair Value | 11,242 | 0 |
Twelve Months or Greater, Gross Unrealized Losses | (5,011) | 0 |
Total, Fair Value | 116,122 | 24,273 |
Total, Gross Unrealized Losses | (29,107) | (341) |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than Twelve Months, Fair Value | 5,954 | 0 |
Less than Twelve Months, Gross Unrealized Losses | (533) | 0 |
Twelve Months or Greater, Fair Value | 1,332 | 1,980 |
Twelve Months or Greater, Gross Unrealized Losses | (348) | (80) |
Total, Fair Value | 7,286 | 1,980 |
Total, Gross Unrealized Losses | $ (881) | $ (80) |
Note 8 - Loans and Related Al_3
Note 8 - Loans and Related Allowance for Loan and Lease Losses (Details Textual) Pure in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | |
Loans and Leases Receivable, Deferred Income | $ 1,900,000 | $ 1,900,000 | $ 3,600,000 | ||
Financing Receivable, Troubled Debt Restructuring | 2,800,000 | 2,800,000 | 2,600,000 | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 308,000 | 150,000 | |||
Number of Days Past Due (Day) | 90 days | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 39,000 | $ 107,000 | $ 120,000 | $ 290,000 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||
Threshold For Loans Evaluated For Impairment [Member] | |||||
Loans and Leases Receivable, before Fees, Gross | $ 750,000 | $ 750,000 | |||
Threshold For Loans Evaluated For Impairment [Member] | Outside Consultant [Member] | |||||
Loans and Leases Receivable, before Fees, Gross | 250,000 | 250,000 | |||
Threshold For Loans Evaluated For Impairment [Member] | Criticized Relationships [Member] | |||||
Financing Receivable, before Allowance for Credit Loss, Total | 150,000 | 150,000 | |||
Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||||
Loans and Leases Receivable, Deferred Income | $ 14,000 | $ 14,000 | $ 1,300,000 |
Note 8 - Loans and Related Al_4
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Primary Segments of the Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Individually evaluated for impairment | $ 22,428 | $ 7,969 |
Collectively evaluated for impairment | 972,767 | 973,722 |
Total loans | 995,195 | 981,691 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Individually evaluated for impairment | 5,387 | 731 |
Collectively evaluated for impairment | 115,525 | 110,739 |
Total loans | 120,912 | 111,470 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Individually evaluated for impairment | 14,140 | 5,297 |
Collectively evaluated for impairment | 271,279 | 278,321 |
Total loans | 285,419 | 283,618 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 38,063 | 31,189 |
Total loans | 38,063 | 31,189 |
Residential Portfolio Segment [Member] | ||
Individually evaluated for impairment | 892 | 1,104 |
Collectively evaluated for impairment | 246,720 | 238,985 |
Total loans | 247,612 | 240,089 |
Commercial And Industrial [Member] | ||
Individually evaluated for impairment | 1,763 | 587 |
Collectively evaluated for impairment | 145,224 | 148,225 |
Total loans | 146,987 | 148,812 |
Home Equity Lines of Credit [Member] | ||
Individually evaluated for impairment | 246 | 250 |
Collectively evaluated for impairment | 114,098 | 104,105 |
Total loans | 114,344 | 104,355 |
Construction and Other [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 33,748 | 54,148 |
Total loans | 33,748 | 54,148 |
Consumer Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 8,110 | 8,010 |
Total loans | $ 8,110 | $ 8,010 |
Note 8 - Loans and Related Al_5
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Individually evaluated for impairment | $ 666 | $ 666 | $ 740 | ||
Collectively evaluated for impairment | 13,866 | 13,866 | 13,602 | ||
Less: allowance for loan and lease losses | 14,532 | $ 14,234 | 14,532 | $ 14,234 | 14,342 |
Beginning balance | 14,550 | 14,200 | 14,342 | 13,459 | |
Charge-offs | (150) | (50) | (251) | (442) | |
Recoveries | 132 | 84 | 441 | 317 | |
Provision | 0 | 0 | 0 | 900 | |
Ending balance | 14,532 | 14,234 | 14,532 | 14,234 | |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | |||||
Individually evaluated for impairment | 36 | 36 | 10 | ||
Collectively evaluated for impairment | 1,848 | 1,848 | 1,826 | ||
Less: allowance for loan and lease losses | 1,884 | 1,552 | 1,884 | 1,552 | 1,836 |
Beginning balance | 1,803 | 1,525 | 1,836 | 1,342 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 1 | 1 | 4 | 44 | |
Provision | 80 | 26 | 44 | 166 | |
Ending balance | 1,884 | 1,552 | 1,884 | 1,552 | |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | |||||
Individually evaluated for impairment | 310 | 310 | 655 | ||
Collectively evaluated for impairment | 5,388 | 5,388 | 6,776 | ||
Less: allowance for loan and lease losses | 5,698 | 7,700 | 5,698 | 7,700 | 7,431 |
Beginning balance | 7,347 | 7,624 | 7,431 | 6,817 | |
Charge-offs | (150) | (50) | (150) | (313) | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | (1,499) | 126 | (1,583) | 1,196 | |
Ending balance | 5,698 | 7,700 | 5,698 | 7,700 | |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 623 | 623 | 454 | ||
Less: allowance for loan and lease losses | 623 | 398 | 623 | 398 | 454 |
Beginning balance | 416 | 449 | 454 | 461 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | 207 | (51) | 169 | (63) | |
Ending balance | 623 | 398 | 623 | 398 | |
Residential Portfolio Segment [Member] | |||||
Individually evaluated for impairment | 13 | 13 | 17 | ||
Collectively evaluated for impairment | 2,236 | 2,236 | 1,723 | ||
Less: allowance for loan and lease losses | 2,249 | 1,675 | 2,249 | 1,675 | 1,740 |
Beginning balance | 1,853 | 1,792 | 1,740 | 1,683 | |
Charge-offs | 0 | 0 | 0 | (27) | |
Recoveries | 34 | 1 | 61 | 4 | |
Provision | 362 | (118) | 448 | 15 | |
Ending balance | 2,249 | 1,675 | 2,249 | 1,675 | |
Commercial And Industrial [Member] | |||||
Individually evaluated for impairment | 306 | 306 | 42 | ||
Collectively evaluated for impairment | 1,426 | 1,426 | 840 | ||
Less: allowance for loan and lease losses | 1,732 | 1,159 | 1,732 | 1,159 | 882 |
Beginning balance | 1,213 | 1,123 | 882 | 1,353 | |
Charge-offs | 0 | 0 | (30) | 0 | |
Recoveries | 61 | 19 | 269 | 70 | |
Provision | 458 | 17 | 611 | (264) | |
Ending balance | 1,732 | 1,159 | 1,732 | 1,159 | |
Home Equity Lines of Credit [Member] | |||||
Individually evaluated for impairment | 1 | 1 | 16 | ||
Collectively evaluated for impairment | 1,892 | 1,892 | 1,436 | ||
Less: allowance for loan and lease losses | 1,893 | 1,328 | 1,893 | 1,328 | 1,452 |
Beginning balance | 1,495 | 1,261 | 1,452 | 1,405 | |
Charge-offs | 0 | 0 | (25) | 0 | |
Recoveries | 0 | 3 | 0 | 55 | |
Provision | 398 | 64 | 466 | (132) | |
Ending balance | 1,893 | 1,328 | 1,893 | 1,328 | |
Construction and Other [Member] | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 429 | 429 | 533 | ||
Less: allowance for loan and lease losses | 429 | 391 | 429 | 391 | 533 |
Beginning balance | 399 | 408 | 533 | 378 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 18 | 0 | 46 | |
Provision | 30 | (35) | (104) | (33) | |
Ending balance | 429 | 391 | 429 | 391 | |
Consumer Portfolio Segment [Member] | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 24 | 24 | 14 | ||
Less: allowance for loan and lease losses | 24 | 31 | 24 | 31 | $ 14 |
Beginning balance | 24 | 18 | 14 | 20 | |
Charge-offs | 0 | 0 | (46) | (102) | |
Recoveries | 36 | 42 | 107 | 98 | |
Provision | (36) | (29) | (51) | 15 | |
Ending balance | $ 24 | $ 31 | $ 24 | $ 31 |
Note 8 - Loans and Related Al_6
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Impaired Loans by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Recorded investment, with no related allowance | $ 2,013 | $ 2,744 |
Unpaid principal balance, with no related allowance | 2,923 | 3,221 |
Recorded investment, with related allowance | 20,415 | 5,225 |
Unpaid principal balance, with related allowance | 20,484 | 5,765 |
Related allowance | 666 | 740 |
Recorded investment | 22,428 | 7,969 |
Unpaid principal balance | 23,407 | 8,986 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Recorded investment, with no related allowance | 1,085 | 1,547 |
Unpaid principal balance, with no related allowance | 1,821 | 1,802 |
Recorded investment, with related allowance | 13,055 | 3,750 |
Unpaid principal balance, with related allowance | 13,124 | 4,277 |
Related allowance | 310 | 655 |
Recorded investment | 14,140 | 5,297 |
Unpaid principal balance | 14,945 | 6,079 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Recorded investment, with no related allowance | 731 | |
Unpaid principal balance, with no related allowance | 731 | |
Recorded investment, with related allowance | 5,387 | 731 |
Unpaid principal balance, with related allowance | 5,387 | 731 |
Related allowance | 36 | 10 |
Recorded investment | 5,387 | |
Unpaid principal balance | 5,387 | |
Residential Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 573 | 820 |
Unpaid principal balance, with no related allowance | 635 | 874 |
Recorded investment, with related allowance | 319 | 284 |
Unpaid principal balance, with related allowance | 319 | 284 |
Related allowance | 13 | 17 |
Recorded investment | 892 | 1,104 |
Unpaid principal balance | 954 | 1,158 |
Commercial And Industrial [Member] | ||
Recorded investment, with no related allowance | 242 | 370 |
Unpaid principal balance, with no related allowance | 354 | 538 |
Recorded investment, with related allowance | 1,521 | 217 |
Unpaid principal balance, with related allowance | 1,521 | 230 |
Related allowance | 306 | 42 |
Recorded investment | 1,763 | 587 |
Unpaid principal balance | 1,875 | 768 |
Home Equity Lines of Credit [Member] | ||
Recorded investment, with no related allowance | 113 | 7 |
Unpaid principal balance, with no related allowance | 113 | 7 |
Recorded investment, with related allowance | 133 | 243 |
Unpaid principal balance, with related allowance | 133 | 243 |
Related allowance | 1 | 16 |
Recorded investment | 246 | 250 |
Unpaid principal balance | $ 246 | $ 250 |
Note 8 - Loans and Related Al_7
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Additional Information on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Average recorded investment | $ 15,668 | $ 8,976 | $ 11,777 | $ 8,725 |
Interest income recognized | 510 | 81 | 743 | 219 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||||
Average recorded investment | 3,044 | 1,428 | 1,884 | 1,485 |
Interest income recognized | 119 | 14 | 142 | 45 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||||
Average recorded investment | 9,637 | 5,419 | 7,446 | 4,955 |
Interest income recognized | 340 | 34 | 455 | 101 |
Residential Portfolio Segment [Member] | ||||
Average recorded investment | 934 | 1,190 | 992 | 1,234 |
Interest income recognized | 10 | 18 | 35 | 42 |
Commercial And Industrial [Member] | ||||
Average recorded investment | 1,806 | 694 | 1,207 | 807 |
Interest income recognized | 37 | 9 | 102 | 22 |
Home Equity Lines of Credit [Member] | ||||
Average recorded investment | 247 | 245 | 248 | 244 |
Interest income recognized | $ 4 | $ 6 | $ 9 | $ 9 |
Note 8 - Loans and Related Al_8
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Classes of the Loan Portfolio Summarized by Credit Quality (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans | $ 995,195 | $ 981,691 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 120,912 | 111,470 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 285,419 | 283,618 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 38,063 | 31,189 |
Residential Portfolio Segment [Member] | ||
Loans | 247,612 | 240,089 |
Commercial And Industrial [Member] | ||
Loans | 146,987 | 148,812 |
Home Equity Lines of Credit [Member] | ||
Loans | 114,344 | 104,355 |
Construction and Other [Member] | ||
Loans | 33,748 | 54,148 |
Consumer Portfolio Segment [Member] | ||
Loans | 8,110 | 8,010 |
Pass [Member] | ||
Loans | 931,742 | 912,229 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 111,173 | 104,217 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 242,133 | 230,672 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 38,063 | 31,189 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans | 245,278 | 237,132 |
Pass [Member] | Commercial And Industrial [Member] | ||
Loans | 140,328 | 143,911 |
Pass [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 113,337 | 103,296 |
Pass [Member] | Construction and Other [Member] | ||
Loans | 33,359 | 53,807 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 8,071 | 8,005 |
Special Mention [Member] | ||
Loans | 5,339 | 8,527 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 1,164 | 2,400 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 215 | 3,038 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 0 | 0 |
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Special Mention [Member] | Commercial And Industrial [Member] | ||
Loans | 3,641 | 2,748 |
Special Mention [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 0 | 0 |
Special Mention [Member] | Construction and Other [Member] | ||
Loans | 319 | 341 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | ||
Loans | 58,114 | 60,935 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 8,575 | 4,853 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 43,071 | 49,908 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans | 2,334 | 2,957 |
Substandard [Member] | Commercial And Industrial [Member] | ||
Loans | 3,018 | 2,153 |
Substandard [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 1,007 | 1,059 |
Substandard [Member] | Construction and Other [Member] | ||
Loans | 70 | 0 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 39 | 5 |
Doubtful [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial And Industrial [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Construction and Other [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans | $ 0 | $ 0 |
Note 8 - Loans and Related Al_9
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Total loans | $ 995,195 | $ 981,691 |
Financial Asset, Not Past Due [Member] | ||
Total loans | 992,898 | 977,994 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 1,555 | 2,276 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 163 | 190 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 579 | 1,231 |
Financial Asset, Past Due [Member] | ||
Total loans | 2,297 | 3,697 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Total loans | 120,912 | 111,470 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 120,885 | 111,257 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 27 | 81 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 132 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 27 | 213 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Total loans | 285,419 | 283,618 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 285,258 | 282,365 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 0 | 880 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 161 | 373 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 161 | 1,253 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Total loans | 38,063 | 31,189 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 38,063 | 31,189 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Total loans | 247,612 | 240,089 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 246,058 | 238,483 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 1,179 | 1,187 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 375 | 419 |
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 1,554 | 1,606 |
Commercial And Industrial [Member] | ||
Total loans | 146,987 | 148,812 |
Commercial And Industrial [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 146,805 | 148,437 |
Commercial And Industrial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 41 | 112 |
Commercial And Industrial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 127 | 0 |
Commercial And Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 14 | 263 |
Commercial And Industrial [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 182 | 375 |
Home Equity Lines of Credit [Member] | ||
Total loans | 114,344 | 104,355 |
Home Equity Lines of Credit [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 114,156 | 104,316 |
Home Equity Lines of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 159 | 0 |
Home Equity Lines of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 39 |
Home Equity Lines of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 29 | 0 |
Home Equity Lines of Credit [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 188 | 39 |
Construction and Other [Member] | ||
Total loans | 33,748 | 54,148 |
Construction and Other [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 33,748 | 54,148 |
Construction and Other [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Construction and Other [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Construction and Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Construction and Other [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Total loans | 8,110 | 8,010 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 7,925 | 7,799 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total loans | 149 | 16 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total loans | 36 | 19 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 176 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | $ 185 | $ 211 |
Note 8 - Loans and Related A_10
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans, current balance | $ 3,692 | $ 4,859 |
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans, current balance | 71 | 81 |
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans, current balance | 1,450 | 2,442 |
Loans, past due | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans, current balance | 1,568 | 1,577 |
Loans, past due | 0 | 0 |
Commercial And Industrial [Member] | ||
Loans, current balance | 197 | 456 |
Loans, past due | 0 | 0 |
Home Equity Lines of Credit [Member] | ||
Loans, current balance | 131 | 121 |
Loans, past due | 0 | 0 |
Construction and Other [Member] | ||
Loans, current balance | 70 | |
Loans, past due | 0 | |
Consumer Portfolio Segment [Member] | ||
Loans, current balance | 205 | 182 |
Loans, past due | $ 0 | $ 0 |
Note 8 - Loans and Related A_11
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Troubled Debt Restructurings (Details) - Commercial And Industrial [Member] $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) | |
Number of contracts | 1 | 3 |
Pre-modification outstanding recorded investment | $ 27 | $ 1,252 |
Post-modification outstanding recorded investment | $ 27 | $ 1,252 |
Extended Maturity [Member] | ||
Number of contracts | 1 | 3 |
Other Restructurings [Member] | ||
Number of contracts | 0 | 0 |
Note 10 - Proposed Acquisitio_2
Note 10 - Proposed Acquisition of Liberty Bancshares (Details Textual) - $ / shares | Sep. 30, 2022 | May 26, 2022 | Dec. 31, 2021 |
Common Stock, No Par Value (in dollars per share) | $ 0 | $ 0 | |
Merger Agreement, Liberty Bancshares, Inc. (“Liberty”) Will Merge with and into Merger Sub (the “Merger”) [Member] | |||
Common Stock, No Par Value (in dollars per share) | $ 0 | ||
The Right to Receive, Without Interest, Shares of the Common Stock (in shares) | 2.752 | ||
Merger Agreement, Liberty Bancshares, Inc. (“Liberty”) Will Merge with and into Merger Sub (the “Merger”) [Member] | Liberty Bancshares Inc [Member] | Voting Common Stock [Member] | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 1.25 | ||
Merger Agreement, Liberty Bancshares, Inc. (“Liberty”) Will Merge with and into Merger Sub (the “Merger”) [Member] | Liberty Bancshares Inc [Member] | Nonvoting Common Stock [Member] | |||
Common Stock, No Par Value (in dollars per share) | $ 0 |