Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 29, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000859070 | |
Entity Registrant Name | FIRST COMMUNITY BANKSHARES INC /VA/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 000-19297 | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 55-0694814 | |
Entity Address, Address Line One | P.O. Box 989 | |
Entity Address, City or Town | Bluefield | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 24605-0989 | |
City Area Code | 276 | |
Local Phone Number | 326-9000 | |
Title of 12(b) Security | Common Stock ($1.00 par value) | |
Trading Symbol | FCBC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 18,353,513 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | [1] |
Assets | |||
Cash and due from banks | $ 67,128 | $ 77,563 | |
Federal funds sold | 179,943 | 37,312 | |
Interest-bearing deposits in banks | 1,834 | 1,545 | |
Total cash and cash equivalents | 248,905 | 116,420 | |
Debt securities available-for-sale, at fair value | 166,247 | 280,961 | |
Loans held for investment, net of unearned income | 2,519,833 | 2,572,298 | |
Allowance for credit losses | (35,461) | (36,189) | |
Loans held for investment, net | 2,484,372 | 2,536,109 | |
Premises and equipment, net | 51,333 | 50,680 | |
Other real estate owned | 374 | 192 | |
Interest receivable | 10,719 | 10,881 | |
Goodwill | 143,946 | 143,946 | |
Other intangible assets | 14,615 | 15,145 | |
Other assets | 115,470 | 114,211 | |
Total assets | 3,235,981 | 3,268,545 | |
Liabilities | |||
Noninterest-bearing | 902,396 | 931,920 | |
Interest-bearing | 1,779,819 | 1,790,405 | |
Total deposits | 2,682,215 | 2,722,325 | |
Securities sold under agreements to repurchase | 1,006 | 1,119 | |
Interest, taxes, and other liabilities | 45,816 | 41,807 | |
Total liabilities | 2,729,037 | 2,765,251 | |
Stockholders' equity | |||
Preferred stock, undesignated par value; 1,000,000 shares authorized; Series A Noncumulative Convertible Preferred Stock, $0.01 par value; 25,000 shares authorized; none outstanding | 0 | 0 | |
Common stock, $1 par value; 50,000,000 shares authorized; 27,522,635 shares issued and 18,413,088 outstanding at March 31, 2024; 27,522,547 shares issued and 18,502,396 outstanding at December 31, 2023 | 18,413 | 18,502 | |
Additional paid-in capital | 173,041 | 175,841 | |
Retained earnings | 327,389 | 319,902 | |
Accumulated other comprehensive loss | (11,899) | (10,951) | |
Total stockholders' equity | 506,944 | 503,294 | |
Total liabilities and stockholders' equity | $ 3,235,981 | $ 3,268,545 | |
[1]Derived from audited financial statements |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2024 | Dec. 31, 2023 | [1] |
Common stock, par value (in dollars per share) | $ 1 | $ 1 | |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 | |
Common stock, issued (in shares) | 27,522,635 | 27,522,547 | |
Common stock, outstanding (in shares) | 18,413,088 | 18,502,396 | |
Undesignated Par Value [Member] | |||
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 | |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 | |
Designated Par Value [Member] | |||
Preferred stock, authorized (in shares) | 25,000 | 25,000 | |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, outstanding (in shares) | 0 | 0 | |
[1]Derived from audited financial statements |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Interest income: | |||
Interest and fees on loans | $ 33,418 | $ 27,628 | |
Interest on securities -- taxable | 1,563 | 1,934 | |
Interest on securities -- tax-exempt | 135 | 165 | |
Interest on deposits in banks | 913 | 462 | |
Total interest income | 36,029 | 30,189 | |
Interest expense: | |||
Interest on deposits | 4,365 | 718 | |
Interest on short-term borrowings | 35 | 59 | |
Total interest expense | 4,400 | 777 | |
Net interest income | 31,629 | 29,412 | |
Provision for credit losses | 1,011 | 1,742 | |
Net interest income after provision for credit losses | 30,618 | 27,670 | |
Noninterest income: | |||
Gain on sale of securities | [1] | 0 | 7 |
Other operating income | 1,400 | 1,318 | |
Total noninterest income | 9,259 | 8,583 | |
Noninterest expense: | |||
Salaries and employee benefits | 12,581 | 11,595 | |
Occupancy expense | 1,378 | 1,168 | |
Furniture and equipment expense | 1,545 | 1,401 | |
Service fees | 2,449 | 2,019 | |
Advertising and public relations | 796 | 643 | |
Professional fees | 372 | 327 | |
Amortization of intangibles | 530 | 234 | |
FDIC premiums and assessments | 369 | 320 | |
Merger expenses | 379 | ||
Other operating expense | 3,366 | 2,727 | |
Total noninterest expense | 23,386 | 20,813 | |
Income before income taxes | 16,491 | 15,440 | |
Income tax expense | 3,646 | 3,658 | |
Net income | $ 12,845 | $ 11,782 | |
Earnings per common share | |||
Basic (in dollars per share) | $ 0.7 | $ 0.73 | |
Diluted (in dollars per share) | $ 0.71 | $ 0.72 | |
Weighted average shares outstanding | |||
Basic (in shares) | 18,476,128 | 16,228,297 | |
Diluted (in shares) | 18,545,910 | 16,289,489 | |
Fiduciary and Trust [Member] | |||
Noninterest income: | |||
Noninterest income | $ 1,099 | $ 1,017 | |
Deposit Account [Member] | |||
Noninterest income: | |||
Noninterest income | 3,310 | 3,159 | |
Financial Service, Other [Member] | |||
Noninterest income: | |||
Noninterest income | $ 3,450 | $ 3,082 | |
[1]Amortization is included in net periodic pension cost. See Note 10, "Employee Benefit Plans." |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 12,845 | $ 11,782 |
Other comprehensive income (loss), before tax | ||
Change in net unrealized (losses) gains on debt securities | (1,198) | 3,163 |
Reclassification adjustment for gain recognized in net income | 0 | (7) |
Net unrealized losses on available-for-sale debt securities | (1,198) | 3,156 |
Employee benefit plans: | ||
Net actuarial loss | (9) | (33) |
Reclassification adjustment for amortization of prior service cost and net actuarial loss recognized in net income | 9 | 33 |
Net unrealized gains (losses) on employee benefit plans | 0 | 0 |
Other comprehensive loss, before tax | (1,198) | 3,156 |
Income tax (benefit) expense | (250) | 662 |
Other comprehensive (loss) gain, net of tax | (948) | 2,494 |
Total comprehensive income | $ 11,897 | $ 14,276 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance (in shares) at Dec. 31, 2022 | 0 | 16,225,399 | |||||
Balance at Dec. 31, 2022 | $ 0 | $ 16,225 | $ 128,508 | $ 292,971 | $ (15,719) | $ 421,985 | |
Net income | 0 | 0 | 0 | 11,782 | 0 | 11,782 | |
Other comprehensive income | 0 | 0 | 0 | 0 | 2,494 | 2,494 | |
Common dividends declared | $ 0 | $ 0 | 0 | (4,706) | 0 | (4,706) | |
Equity-based compensation expense (in shares) | 0 | 15,732 | |||||
Equity-based compensation expense | $ 0 | $ 16 | 104 | 0 | 0 | 120 | |
Common stock options exercised (in shares) | 0 | 2,158 | |||||
Common stock options exercised | $ 0 | $ 2 | 46 | 0 | 0 | 48 | |
Issuance of common stock to 401(k) plan (in shares) | 0 | 262 | |||||
Issuance of common stock to 401(k) plan | $ 0 | $ 0 | 8 | 0 | 0 | 8 | |
Balance (in shares) at Mar. 31, 2023 | 0 | 16,243,551 | |||||
Balance at Mar. 31, 2023 | $ 0 | $ 16,243 | 128,666 | 300,047 | (13,225) | 431,731 | |
Balance (in shares) at Dec. 31, 2023 | 0 | 18,502,396 | |||||
Balance at Dec. 31, 2023 | $ 0 | $ 18,502 | 175,841 | 319,902 | (10,951) | 503,294 | [1] |
Net income | 0 | 0 | 0 | 12,845 | 0 | 12,845 | |
Other comprehensive income | 0 | 0 | 0 | 0 | (948) | (948) | |
Common dividends declared | $ 0 | $ 0 | 0 | (5,358) | 0 | (5,358) | |
Equity-based compensation expense (in shares) | 0 | 0 | |||||
Equity-based compensation expense | $ 0 | $ 0 | 81 | 0 | 0 | 81 | |
Issuance of common stock to 401(k) plan (in shares) | 0 | 88 | |||||
Issuance of common stock to 401(k) plan | $ 0 | $ 0 | 3 | 0 | 0 | 3 | |
Repurchase of common shares (in shares) | 0 | (89,396) | |||||
Repurchase of common shares | $ 0 | $ (89) | (2,884) | 0 | 0 | (2,973) | |
Balance (in shares) at Mar. 31, 2024 | 0 | 18,413,088 | |||||
Balance at Mar. 31, 2024 | $ 0 | $ 18,413 | $ 173,041 | $ 327,389 | $ (11,899) | $ 506,944 | |
[1]Derived from audited financial statements |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Common dividends declared, per share (in dollars per share) | $ 0.29 | $ 0.29 |
Repurchase of common shares, per share (in dollars per share) | $ 33.26 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Operating activities | |||
Net income | $ 12,845 | $ 11,782 | |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Provision for credit losses | 1,011 | 1,742 | |
Depreciation and amortization of premises and equipment | 1,096 | 921 | |
Accretion of discounts on investments | (200) | (523) | |
Amortization of intangible assets | 530 | 234 | |
Accretion on acquired loans | (781) | (193) | |
Equity-based compensation expense | 81 | 120 | |
Issuance of common stock to 401(k) plan | 3 | 8 | |
Gain on sale of premises and equipment, net | (5) | (2) | |
Loss on sale of other real estate owned | 14 | 51 | |
Net gain on sale of securities | [1] | 0 | (7) |
Decrease in accrued interest receivable | 162 | 633 | |
Increase in other operating activities | 2,176 | 1,061 | |
Net cash provided by operating activities | 16,932 | 15,827 | |
Investing activities | |||
Proceeds from sale of securities available-for-sale | 0 | 17,007 | |
Proceeds from maturities, prepayments, and calls of securities available-for-sale | 118,968 | 10,618 | |
Payments to acquire securities available-for-sale | (5,252) | (31,859) | |
Net decrease (increase) in loans | 51,235 | 9,695 | |
Purchase of FHLB stock, net | 265 | (3,829) | |
Proceeds from bank owned life insurance | 585 | 3,717 | |
Proceeds from sale of premises and equipment | 10 | 4 | |
Payments to acquire premises and equipment | (1,780) | (1,012) | |
Proceeds from sale of other real estate owned | 76 | 228 | |
Net cash provided by (used in) investing activities | 164,107 | 4,569 | |
Financing activities | |||
Decrease in noninterest-bearing deposits, net | (29,524) | (48,871) | |
Decrease in interest-bearing deposits, net | (10,586) | (45,320) | |
Repayments from securities sold under agreements to repurchase, net | (113) | (8) | |
Proceeds from stock options exercised | 0 | 48 | |
Payments for repurchase of common stock | (2,973) | 0 | |
Payments of common dividends | (5,358) | (4,706) | |
Net cash (used in) provided by financing activities | (48,554) | (98,857) | |
Net decrease in cash and cash equivalents | 132,485 | (78,461) | |
Cash and cash equivalents at beginning of period | 116,420 | 170,846 | |
Cash and cash equivalents at end of period | 248,905 | 92,385 | |
Supplemental disclosure -- cash flow information | |||
Cash paid for interest | 4,281 | 726 | |
Cash paid for income taxes | 0 | 0 | |
Supplemental transactions -- noncash items | |||
Transfer of loans to other real estate owned | 272 | 57 | |
Increase in accumulated other comprehensive income (loss), net of taxes | $ (948) | $ 2,494 | |
[1]Amortization is included in net periodic pension cost. See Note 10, "Employee Benefit Plans." |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1. Basis of Presentation General First Community Bankshares, Inc. (the “Company”), a financial holding company, was founded in 1989 1874. Principles of Consolidation The Company’s accounting and reporting policies conform with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not one not may These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10 December 31, 2023 2023 10 March 8, 2024. December 31, 2023 Reclassifications Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no Use of Estimates Preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant Accounting Policies The Company’s significant accounting policies are included in Note 1, 8 2023 10 Recent Accounting Standards Standards Not In December 2023, 2023 09, 740 1 2 not not The Company has not 2024 not |
Note 2 - Acquisitions
Note 2 - Acquisitions | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 2 . Acquisitions On November 18, 2022, April 21, 2023. The Surrey transaction was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date. Fair values are preliminary and subject to refinement for up to a year after the closing date of the acquisition. The Company incurred a total of $2.99 million in merger expenses related to the Surrey transaction, $596 thousand was recorded in the last quarter of 2022 2023. Goodwill arising from business combinations represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the fair value of the liabilities assumed. The Surrey acquisition resulted in the Company recognizing $14.38 million in goodwill. The primary identifiable intangible asset we typically record in connection with a whole bank or bank branch acquisition is the value of the core deposit intangibles which represents the estimated value of the long-term deposit relationships acquired in the transaction. Determining the amount of identifiable intangible assets and their average lives involves multiple assumptions and estimates and is typically determined by performing a discounted cash flow analysis, which involves a combination of any or all of the following assumptions: customer attrition/runoff, alternative funding costs, deposit servicing costs, and discount rates. The core deposit intangibles are amortized over the estimated useful lives of the deposit accounts based on a method that we believe reasonably approximates the anticipated benefit stream from this intangible. Core deposit intangibles for the Surrey transaction totaled $12.70 million. When loans are acquired they are identified as either purchased credit deteriorated PCD or non-PCD. PCD loans represent assets that are acquired with evidence of more than insignificant credit quality deterioration since the origination of the loans as of the acquisition date. The ACL for PCD assets is recognized within business combination accounting with no may not As recorded by Fair Value As recorded by (Amounts in thousands, except share and per share data ) Surrey Adjustments the Company Assets Cash and cash equivalents $ 176,700 $ - $ 176,700 Securities-available-for-sale 22,027 (1,093 ) ( a ) 20,934 Loans held for investment, net of allowance and mark 251,944 (12,864 ) ( b ) 239,080 Premises and equipment 5,501 774 ( c ) 6,275 Other assets 10,787 (229 ) ( d ), ( e ) 10,558 Intangible assets - 12,700 ( f ) 12,700 Total assets $ 466,959 $ (712 ) $ 466,247 LIABILITIES Deposits: Noninterest-bearing $ 158,389 $ - $ 158,389 Interest-bearing 246,460 (1,214 ) ( g ) 245,246 Total deposits 404,849 (1,214 ) 403,635 Long term debt - - - Other liabilities 6,004 (381 ) ( h ) 5,623 Total liabilities 410,853 (1,595 ) 409,258 Net identifiable assets acquired over liabilities assumed 56,106 883 56,989 Goodwill - 14,381 14,381 Net assets acquired over liabilities assumed $ 56,106 $ 15,264 $ 71,370 Consideration: First Community Bankshares, Inc. common stock issued 2,996,786 Purchase price per share of the Company's common stock $ 23.81 Fair value of Company common stock issued 71,354 Cash paid for fractional shares 16 Fair Value of total consideration transferred $ 71,370 Explanation of fair value adjustments: (a) Adjustment reflects the fair value adjustment based on the Company's evaluation of the acquired investment portfolio. (b) Adjustment reflects the fair value adjustments of $(15.80) million based on the Company's evaluation of the acquired loan portfolio and excludes the allowance for credit losses and deferred loans fees of $2.94 million as recorded by Surrey. (c) Adjustment reflects the fair value adjustments based on the Company's evaluation of the acquired premises and equipment. (d) Adjustment reflects the fair value adjustment based on the Company's evaluation of stocks with other banks of $47 thousand. (e) Adjustment to record the deferred tax asset related to the fair value adjustments $(177) thousand. (f) Adjustment to record the core deposit intangible on the acquired deposit accounts. (g) Adjustment reflects the fair value adjustment based on the Company's evaluation of the time deposit portfolio. (h) Adjustment to reclass deferred tax asset $(99) thousand, goodwill $(282) thousand, federal income tax payable $(389) thousand, and state income tax payable $8 thousand. |
Note 3 - Debt Securities
Note 3 - Debt Securities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 . Debt Securities The following tables present the amortized cost and fair value of available-for-sale debt securities, including gross unrealized gains and losses, as of the dates indicated: March 31, 2024 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 5,750 $ - $ - $ 5,750 U.S. Treasury securities 36,384 2 (62 ) 36,324 Municipal securities 18,325 4 (217 ) 18,112 Corporate notes 28,574 - (1,658 ) 26,916 Agency mortgage-backed securities 92,496 - (13,351 ) 79,145 Total $ 181,529 $ 6 $ (15,288 ) $ 166,247 December 31, 2023 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 5,750 $ - $ (1 ) $ 5,749 U.S. Treasury securities 146,653 16 (843 ) 145,826 Municipal securities 19,528 11 (162 ) 19,377 Corporate notes 28,566 - (1,485 ) 27,081 Agency mortgage-backed securities 94,548 2 (11,622 ) 82,928 Total $ 295,045 $ 29 $ (14,113 ) $ 280,961 There was no March 31, 2024 not not March 31, 2024 December 31, 2023 The following table presents the amortized cost and aggregate fair value of available-for-sale debt securities by contractual maturity, as of the date indicated. Actual maturities could differ from contractual maturities because issuers may March 31, 2024 Amortized (Amounts in thousands) Cost Fair Value Available-for-sale debt securities Due within one year $ 47,332 $ 47,266 Due after one year but within five years 41,701 39,836 Due after five years but within ten years - - 89,033 87,102 Agency mortgage-backed securities 92,496 79,145 Total debt securities available-for-sale $ 181,529 $ 166,247 The following tables present the fair values and unrealized losses for available-for-sale debt securities in a continuous unrealized loss position for less than 12 12 March 31, 2024 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ 5,750 $ - $ - $ - $ 5,750 $ - U.S. Treasury securities 5,283 (12 ) 25,684 (50 ) 30,967 (62 ) Municipal securities 3,944 (21 ) 7,713 (196 ) 11,657 (217 ) Corporate notes - - 26,916 (1,658 ) 26,916 (1,658 ) Agency mortgage-backed securities 4,546 (52 ) 74,598 (13,299 ) 79,144 (13,351 ) Total $ 19,523 $ (85 ) $ 134,911 $ (15,203 ) $ 154,434 $ (15,288 ) December 31, 2023 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ 5,749 $ (1 ) $ — $ — $ 5,749 $ (1 ) U.S. Treasury securities 11,417 (14 ) 129,108 (829 ) 140,525 (843 ) Municipal securities 4,742 (20 ) 5,484 (142 ) 10,226 (162 ) Corporate notes — — 27,081 (1,485 ) 27,081 (1,485 ) Agency mortgage-backed securities 3,421 (10 ) 78,319 (11,612 ) 81,740 (11,622 ) Total $ 25,329 $ (45 ) $ 239,992 $ (14,068 ) $ 265,321 $ (14,113 ) There were 115 individual debt securities in an unrealized loss position as of March 31, 2024 December 31, 2023 Management evaluates securities for impairment where there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Credit losses are calculated individually, rather than collectively, using a discounted cash flow method, whereby management compares the present value of expected cash flows with the amortized cost basis of the security. The credit loss component would be recognized through the provision for credit losses and the creation of an allowance for credit losses. Consideration is given to ( 1 2 3 4 not 5 6 7 third 8 one not zero March 31, 2024 not not not not Management continues to monitor all of our securities with a high degree of scrutiny. There can be no not may There were no first three 2024 first three 2023 Three Months Ended March 31, 2024 2023 (Amounts in thousands) Gross realized gains $ - $ 7 Gross realized losses - - Net gain (loss) on sale of securities $ - $ 7 The carrying amount of securities pledged for various purposes totaled $ as of March 31, 2024 , and $ as of December 31, 2023 . |
Note 4 - Loans
Note 4 - Loans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 . Loans The Company groups loans held for investment into three March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 In accordance with the adoption of ASU 2016 13, March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 (Amounts in thousands) Amount Percent Amount Percent Loans held for investment Commercial loans Construction, development, and other land $ 88,841 3.53 % $ 105,945 4.12 % Commercial and industrial 203,530 8.08 % 211,850 8.24 % Multi-family residential 194,188 7.71 % 188,382 7.32 % Single family non-owner occupied 219,669 8.72 % 224,895 8.74 % Non-farm, non-residential 887,255 35.21 % 894,550 34.78 % Agricultural 19,763 0.78 % 21,669 0.84 % Farmland 13,572 0.53 % 14,202 0.55 % Total commercial loans 1,626,818 64.56 % 1,661,493 64.59 % Consumer real estate loans Home equity lines 87,181 3.46 % 87,626 3.41 % Single family owner occupied 687,810 27.30 % 696,140 27.06 % Owner occupied construction 5,848 0.23 % 8,445 0.33 % Total consumer real estate loans 780,839 30.99 % 792,211 30.80 % Consumer and other loans Consumer loans 110,787 4.40 % 117,091 4.55 % Other 1,389 0.05 % 1,503 0.06 % Total consumer and other loans 112,176 4.45 % 118,594 4.61 % Total loans held for investment, net of unearned income $ 2,519,833 100.00 % $ 2,572,298 100.00 % |
Note 5 - Credit Quality
Note 5 - Credit Quality | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 5 . Credit Quality The Company uses a risk grading matrix to assign a risk grade to each loan in its portfolio. Loan risk ratings may ● Pass -- This grade is assigned to loans with acceptable credit quality and risk. The Company further segments this grade based on borrower characteristics that include capital strength, earnings stability, liquidity, leverage, and industry conditions. ● Special Mention -- This grade is assigned to loans that require an above average degree of supervision and attention. These loans have the characteristics of an asset with acceptable credit quality and risk; however, adverse economic or financial conditions exist that create potential weaknesses deserving of management’s close attention. If potential weaknesses are not may ● Substandard -- This grade is assigned to loans that have well defined weaknesses that may ● Doubtful -- This grade is assigned to loans that have the weaknesses inherent in substandard loans; however, the weaknesses are so severe that collection or liquidation in full is unlikely based on current facts, conditions, and values. Due to certain specific pending factors, the amount of loss cannot yet be determined. ● Loss -- This grade is assigned to loans that will be charged off or charged down when payments, including the timing and value of payments, are uncertain. This risk grade does not no not may The following table presents the recorded investment of the loan portfolio, by loan class and credit quality, as of the dates indicated: March 31, 2024 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Commercial loans Construction, development, and other land $ 86,265 $ 2,164 $ 412 $ - $ - $ 88,841 Commercial and industrial 198,318 2,128 3,084 - - 203,530 Multi-family residential 190,417 3,485 286 - - 194,188 Single family non-owner occupied 210,540 1,983 7,146 - - 219,669 Non-farm, non-residential 858,461 15,272 13,522 - - 887,255 Agricultural 13,982 3,786 1,995 - - 19,763 Farmland 12,015 475 1,082 - - 13,572 Consumer real estate loans Home equity lines 83,592 544 3,045 - - 87,181 Single family owner occupied 661,705 2,277 23,828 - - 687,810 Owner occupied construction 5,848 - - - - 5,848 Consumer and other loans Consumer loans 108,713 2 2,072 - - 110,787 Other 1,389 - - - - 1,389 Total loans $ 2,431,245 $ 32,116 $ 56,472 $ - $ - $ 2,519,833 December 31, 2023 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Commercial loans Construction, development, and other land $ 103,573 $ 1,955 $ 417 $ - $ - $ 105,945 Commercial and industrial 207,034 2,097 2,719 - - 211,850 Multi-family residential 184,565 3,522 295 - - 188,382 Single family non-owner occupied 215,375 2,016 7,504 - - 224,895 Non-farm, non-residential 866,711 15,240 12,599 - - 894,550 Agricultural 15,944 3,878 1,847 - - 21,669 Farmland 12,480 484 1,238 - - 14,202 Consumer real estate loans Home equity lines 83,769 546 3,311 - - 87,626 Single family owner occupied 669,878 2,360 23,902 - - 696,140 Owner occupied construction 8,445 - - - - 8,445 Consumer and other loans Consumer loans 114,725 4 2,362 - - 117,091 Other 1,503 - - - - 1,503 Total loans $ 2,484,002 $ 32,102 $ 56,194 $ - $ - $ 2,572,298 The following tables present the amortized cost basis and current period gross write-offs of the loan portfolio, by year of origination, loan class, and credit quality, as of the date indicated: (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Total Construction, development and other land Pass $ 918 $ 12,689 $ 35,682 $ 24,233 $ 4,020 $ 6,069 $ 2,654 $ 86,265 Special mention - 1,973 - - 117 74 - 2,164 Substandard - - - - 12 400 - 412 Doubtful - - - - - - - - Loss - - - - - - - - Total construction, development, and other land $ 918 $ 14,662 $ 35,682 $ 24,233 $ 4,149 $ 6,543 $ 2,654 $ 88,841 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial Pass $ 7,585 $ 47,322 $ 60,226 $ 16,907 $ 10,311 $ 15,891 $ 40,076 $ 198,318 Special mention - - 218 118 - 1,691 101 2,128 Substandard - 197 861 450 28 1,548 - 3,084 Doubtful - - - - - - - - Loss - - - - - - - - Total commercial and industrial $ 7,585 $ 47,519 $ 61,305 $ 17,475 $ 10,339 $ 19,130 $ 40,177 $ 203,530 Current period gross write-offs $ - $ 37 $ 173 $ - $ 9 $ 1 $ - $ 220 Multi-family residential Pass $ 306 $ 6,791 $ 74,704 $ 36,344 $ 29,717 $ 39,054 $ 3,501 $ 190,417 Special mention - - - - - 3,485 - 3,485 Substandard - - 114 - - 172 - 286 Doubtful - - - - - - - - Loss - - - - - - - - Total multi-family residential $ 306 $ 6,791 $ 74,818 $ 36,344 $ 29,717 $ 42,711 $ 3,501 $ 194,188 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Non-farm, non-residential Pass $ 8,635 $ 82,850 $ 239,174 $ 149,473 $ 112,692 $ 257,164 $ 8,473 $ 858,461 Special mention - 62 579 2,566 811 11,254 - 15,272 Substandard - 1,142 297 1,944 680 9,317 142 13,522 Doubtful - - - - - - - - Loss - - - - - - - - Total non-farm, non-residential $ 8,635 $ 84,054 $ 240,050 $ 153,983 $ 114,183 $ 277,735 $ 8,615 $ 887,255 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Agricultural Pass $ 108 $ 4,380 $ 3,850 $ 2,108 $ 463 $ 2,360 $ 713 $ 13,982 Special mention - - 271 178 7 3,330 - 3,786 Substandard - 397 23 101 117 1,357 - 1,995 Doubtful - - - - - - - - Loss - - - - - - - - Total agricultural $ 108 $ 4,777 $ 4,144 $ 2,387 $ 587 $ 7,047 $ 713 $ 19,763 Current period gross write-offs $ - $ 82 $ 60 $ - $ - $ - $ - $ 142 Farmland Pass $ 389 $ 1,370 $ 1,213 $ 1,517 $ 889 $ 5,683 $ 954 $ 12,015 Special mention - - - 102 - 373 - 475 Substandard - - - - - 1,082 - 1,082 Doubtful - - - - - - - - Loss - - - - - - - - Total farmland $ 389 $ 1,370 $ 1,213 $ 1,619 $ 889 $ 7,138 $ 954 $ 13,572 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Total Home equity lines Pass $ 4 $ 1 $ 947 $ 84 $ 72 $ 3,659 $ 78,825 $ 83,592 Special mention - - - - - 44 500 544 Substandard - - 69 - 25 1,842 1,109 3,045 Doubtful - - - - - - - - Loss - - - - - - - - Total home equity lines $ 4 $ 1 $ 1,016 $ 84 $ 97 $ 5,545 $ 80,434 $ 87,181 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ 15 $ 15 Single family Mortgage Pass $ 4,576 $ 51,915 $ 164,857 $ 217,495 $ 186,126 $ 246,880 $ 396 $ 872,245 Special mention - - - 460 97 3,703 - 4,260 Substandard - 235 845 1,510 1,222 27,162 - 30,974 Doubtful - - - - - - - - Loss - - - - - - - - Total single family owner and non-owner occupied $ 4,576 $ 52,150 $ 165,702 $ 219,465 $ 187,445 $ 277,745 $ 396 $ 907,479 Current period gross write-offs $ - $ - $ - $ 31 $ - $ 20 $ - $ 51 Owner occupied construction Pass $ 287 $ 3,416 $ 1,575 $ 235 $ - $ 335 $ - $ 5,848 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Loss - - - - - - - - Total owner occupied construction $ 287 $ 3,416 $ 1,575 $ 235 $ - $ 335 $ - $ 5,848 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer loans Pass $ 7,066 $ 30,143 $ 37,742 $ 17,711 $ 6,302 $ 3,167 $ 7,971 $ 110,102 Special mention - - - 1 - - 1 2 Substandard - 278 914 367 117 345 51 2,072 Doubtful - - - - - - - - Loss - - - - - - - - Total consumer loans $ 7,066 $ 30,421 $ 38,656 $ 18,079 $ 6,419 $ 3,512 $ 8,023 $ 112,176 Current period gross write-offs $ 282 $ 414 $ 746 $ 348 $ 60 $ 48 $ 122 $ 2,020 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Total Total loans Pass $ 29,874 $ 240,877 $ 619,970 $ 466,107 $ 350,592 $ 580,262 $ 143,563 $ 2,431,245 Special mention - 2,035 1,068 3,425 1,032 23,954 602 32,116 Substandard - 2,249 3,123 4,372 2,201 43,225 1,302 56,472 Doubtful - - - - - - - - Loss - - - - - - - - Total loans $ 29,874 $ 245,161 $ 624,161 $ 473,904 $ 353,825 $ 647,441 $ 145,467 $ 2,519,833 Current period gross write-offs $ 282 $ 533 $ 979 $ 379 $ 69 $ 69 $ 137 $ 2,448 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Construction, development and other land Pass $ 12,379 $ 54,752 $ 23,328 $ 4,121 $ 2,700 $ 3,874 $ 2,419 $ 103,573 Special Mention 1,737 - - 139 - 79 - 1,955 Substandard - - - - 175 242 - 417 Doubtful - - - - - - - - Loss - - - - - - - - Total construction, development, and other land $ 14,116 $ 54,752 $ 23,328 $ 4,260 $ 2,875 $ 4,195 $ 2,419 $ 105,945 Current period gross write-offs $ - $ - $ - $ - $ 13 $ - $ - $ 13 Commercial and industrial Pass $ 53,619 $ 64,380 $ 19,477 $ 11,538 $ 5,717 $ 11,775 $ 40,528 $ 207,034 Special Mention - 229 11 - 349 1,408 100 2,097 Substandard 51 744 276 86 926 636 - 2,719 Doubtful - - - - - - - - Loss - - - - - - - - Total commercial and industrial $ 53,670 $ 65,353 $ 19,764 $ 11,624 $ 6,992 $ 13,819 $ 40,628 $ 211,850 Current period gross write-offs $ 66 $ 168 $ 201 $ 51 $ 32 $ 66 $ - $ 584 Multi-family residential Pass $ 6,753 $ 67,484 $ 36,621 $ 30,021 $ 3,280 $ 36,982 $ 3,424 $ 184,565 Special Mention - - - - - 3,522 - 3,522 Substandard - - - - - 295 - 295 Doubtful - - - - - - - - Loss - - - - - - - - Total multi-family residential $ 6,753 $ 67,484 $ 36,621 $ 30,021 $ 3,280 $ 40,799 $ 3,424 $ 188,382 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Non-farm, non-residential Pass $ 83,420 $ 234,607 $ 151,433 $ 114,974 $ 53,466 $ 217,034 $ 11,777 $ 866,711 Special Mention 65 583 2,590 819 - 11,132 51 15,240 Substandard 1,175 238 1,968 690 3,175 5,143 210 12,599 Doubtful - - - - - - - - Loss - - - - - - - - Total non-farm, non-residential $ 84,660 $ 235,428 $ 155,991 $ 116,483 $ 56,641 $ 233,309 $ 12,038 $ 894,550 Current period gross write-offs $ - $ 8 $ - $ - $ - $ 2 $ - $ 10 Agricultural Pass $ 5,004 $ 4,215 $ 2,352 $ 625 $ 674 $ 2,094 $ 980 $ 15,944 Special Mention 28 276 184 8 90 3,292 - 3,878 Substandard 157 166 50 28 1,188 258 - 1,847 Doubtful - - - - - - - - Loss - - - - - - - - Total agricultural $ 5,189 $ 4,657 $ 2,586 $ 661 $ 1,952 $ 5,644 $ 980 $ 21,669 Current period gross write-offs $ - $ 59 $ - $ 9 $ 14 $ 8 $ - $ 90 Farmland Pass $ 1,380 $ 1,237 $ 1,557 $ 912 $ 745 $ 5,766 $ 883 $ 12,480 Special Mention - - 103 - - 381 - 484 Substandard - - - - - 1,238 - 1,238 Doubtful - - - - - - - - Loss - - - - - - - - Total farmland $ 1,380 $ 1,237 $ 1,660 $ 912 $ 745 $ 7,385 $ 883 $ 14,202 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Home equity lines Pass $ 9 $ 962 $ 86 $ 73 $ 68 $ 3,800 $ 78,771 $ 83,769 Special Mention - - - - - 45 501 546 Substandard - 12 - 27 102 1,853 1,317 3,311 Doubtful - - - - - - - - Loss - - - - - - - - Total home equity lines $ 9 $ 974 $ 86 $ 100 $ 170 $ 5,698 $ 80,589 $ 87,626 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ 227 $ 227 Single family Mortgage Pass $ 50,826 $ 164,974 $ 221,352 $ 191,156 $ 44,974 $ 211,540 $ 431 $ 885,253 Special Mention - - 465 98 108 3,705 - 4,376 Substandard 236 555 1,464 1,381 1,515 26,255 - 31,406 Doubtful - - - - - - - - Loss - - - - - - - - Total single family owner and non-owner occupied $ 51,062 $ 165,529 $ 223,281 $ 192,635 $ 46,597 $ 241,500 $ 431 $ 921,035 Current period gross write-offs $ - $ - $ 47 $ - $ - $ 194 $ - $ 241 Owner occupied construction Pass $ 3,620 $ 4,232 $ 240 $ - $ 21 $ 332 $ - $ 8,445 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Loss - - - - - - - - Total owner occupied construction $ 3,620 $ 4,232 $ 240 $ - $ 21 $ 332 $ - $ 8,445 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer loans Pass $ 31,243 $ 43,675 $ 20,672 $ 7,710 $ 3,214 $ 1,026 $ 8,688 $ 116,228 Special Mention - - 3 - - - 1 4 Substandard 338 820 590 198 157 212 47 2,362 Doubtful - - - - - - - - Loss - - - - - - - - Total consumer loans $ 31,581 $ 44,495 $ 21,265 $ 7,908 $ 3,371 $ 1,238 $ 8,736 $ 118,594 Current period gross write-offs $ 1,238 $ 3,594 $ 1,852 $ 518 $ 196 $ 77 $ 185 $ 7,660 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Total loans Pass $ 248,253 $ 640,518 $ 477,118 $ 361,130 $ 114,859 $ 494,223 $ 147,901 $ 2,484,002 Special mention 1,830 1,088 3,356 1,064 547 23,564 653 32,102 Substandard 1,957 2,535 4,348 2,410 7,238 36,132 1,574 56,194 Doubtful - - - - - - - - Loss - - - - - - - - Total loans $ 252,040 $ 644,141 $ 484,822 $ 364,604 $ 122,644 $ 553,919 $ 150,128 $ 2,572,298 Current period gross write-offs $ 1,304 $ 3,829 $ 2,100 $ 578 $ 255 $ 347 $ 412 $ 8,825 The Company generally places a loan on nonaccrual status when it is 90 March 31, 2024 December 31, 2023 (Amounts in thousands) No Allowance With an Allowance Total No Allowance With an Allowance Total Commercial loans Construction, development, and other land $ 166 $ - $ 166 $ 172 $ — $ 172 Commercial and industrial 1,333 - 1,333 1,438 — 1,438 Multi-family residential 174 - 174 183 — 183 Single family non-owner occupied 978 - 978 832 — 832 Non-farm, non-residential 1,931 1,140 3,071 1,271 1,173 2,444 Agricultural 1,499 - 1,499 1,558 — 1,558 Farmland 125 - 125 123 — 123 Consumer real estate loans Home equity lines 1,229 - 1,229 1,335 — 1,335 Single family owner occupied 9,392 - 9,392 9,365 — 9,365 Owner occupied construction - - - — — — Consumer and other loans Consumer loans 1,650 - 1,650 1,906 — 1,906 Total nonaccrual loans $ 18,477 $ 1,140 $ 19,617 $ 18,183 $ 1,173 $ 19,356 Loans are considered past due when either principal or interest payments become contractually delinquent by 30 90 may not not may six first 2024 2023 The following tables presents the aging of past due loans, by loan class, as of the dates indicated. Nonaccrual loans 30 March 31, 2024 Amortized Cost of 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total > 90 Days Accruing (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans No Allowance Commercial loans Construction, development, and other land $ 23 $ 6 $ 23 $ 52 $ 88,789 $ 88,841 $ - Commercial and industrial 1,000 435 439 1,874 201,656 203,530 - Multi-family residential 112 - 114 226 193,962 194,188 - Single family non-owner occupied 688 - 219 907 218,762 219,669 - Non-farm, non-residential 1,896 - 955 2,851 884,404 887,255 - Agricultural 417 272 246 935 18,828 19,763 - Farmland 123 2 - 125 13,447 13,572 - Consumer real estate loans Home equity lines 551 159 430 1,140 86,041 87,181 - Single family owner occupied 5,204 1,841 3,780 10,825 676,985 687,810 - Owner occupied construction - - - - 5,848 5,848 - Consumer and other loans Consumer loans 2,916 927 568 4,411 106,376 110,787 - Other - - - - 1,389 1,389 - Total loans $ 12,930 $ 3,642 $ 6,774 $ 23,346 $ 2,496,487 $ 2,519,833 $ - December 31, 2023 Amortized Cost of 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total > 90 Days Accruing (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans No Allowance Commercial loans Construction, development, and other land $ 38 $ 6 $ 23 $ 67 $ 105,878 $ 105,945 $ — Commercial and industrial 1,232 766 390 2,388 209,462 211,850 — Multi-family residential 115 68 — 183 188,199 188,382 — Single family non-owner occupied 777 455 232 1,464 223,431 224,895 — Non-farm, non-residential 617 229 382 1,228 893,322 894,550 — Agricultural 22 56 217 295 21,374 21,669 — Farmland 15 — — 15 14,187 14,202 — Consumer real estate loans Home equity lines 639 343 534 1,516 86,110 87,626 — Single family owner occupied 6,108 2,831 3,519 12,458 683,682 696,140 — Owner occupied construction — — — — 8,445 8,445 — Consumer and other loans Consumer loans 4,390 1,440 1,087 6,917 110,174 117,091 — Other — — — — 1,503 1,503 — Total loans $ 13,953 $ 6,194 $ 6,384 $ 26,531 $ 2,545,767 $ 2,572,298 $ — ASC 326 may March 31, 2024 December 31, 2023 (Amounts in thousands) Balance Collateral Coverage % Balance Collateral Coverage % Commercial Real Estate Other $ 1,140 $ 825 72.37 % $ 1,173 $ 825 70.33 % Total collateral dependent loans $ 1,140 $ 825 72.37 % $ 1,173 $ 825 70.33 % The Company may January 1, 2023, 2022 02, 326 2016 13, Payment Delays Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Non farm, non residential property $ 662 0.08 % Deferred 6 months of interest to loan maturity Single family owner occupied 540 0.08 % Deferred $66 thousand in principal to loan maturity Single family non owner occupied 87 0.04 % Deferred 6 months of interest to loan maturity Commercial & industrial 161 0.08 % Deferred $8 thousand in principal to loan maturity Total $ 1,450 Term Extensions Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Consumer $ 5 0.01 % Extended term from 60 to 84 months Total $ 5 Principal Forgiveness Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 3 0.00 % Reduced amortized cost basis by $13 thousand Total $ 3 Term Extension and Rate Reduction Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 719 0.11 % Reduced interest income and extended time to recover principal. Total $ 719 Payment Delays Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Non farm, non residential property $ 662 0.07 % Deferred 6 months of interest to loan maturity Single family owner occupied 548 0.08 % Deferred $66 thousand in principal to loan maturity Single family non owner occupied 89 0.04 % Deferred 6 months of interest to loan maturity Commercial & industrial 171 0.08 % Deferred $8 thousand in principal to loan maturity Total $ 1,470 Term Extensions Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Consumer $ 6 0.01 % Extended term from 60 to 84 months Total $ 6 Principal Forgiveness Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 5 0.00 % Reduced amortized cost basis by $13 thousand Total $ 5 Term Extension and Rate Reduction Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 565 0.08 % Reduced interest income and extended time to recover principal Total $ 565 Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. There were no modified loans (or portions of a loan) deemed uncollectible as of March 31, 2024 December 31, 2023 The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last three March 31, 2024 Payment Status (Amortized Cost Basis) Current 30-89 Days Past Due 90+ Days Past Due (Amounts in thousands) Non farm, non residential property $ 662 $ - $ - Single family owner occupied 1,012 250 - Single family non owner occupied 87 - - Commercial & Industrial 161 - - Consumer 5 - - Total $ 1,927 $ 250 $ - December 31, 2023 Payment Status (Amortized Cost Basis) Current 30-89 Days Past Due 90+ Days Past Due (Amounts in thousands) Non farm, non residential $ 662 $ - $ - Single family owner occupied 864 254 - Single family non owner occupied 89 - - Commercial & industrial 171 - - Consumer 6 - - Total $ 1,792 $ 254 $ - The following table provides information about other real estate owned (“OREO”), which consists of properties acquired through foreclosure, as of the dates indicated: March 31, 2024 December 31, 2023 (Amounts in thousands) OREO $ 374 $ 192 OREO secured by residential real estate $ 374 $ 192 Residential real estate loans in the foreclosure process (1) $ 2,657 $ 1,895 ( 1 The recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction |
Note 6 - Allowance for Credit L
Note 6 - Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 6 . Allowance for Credit Losses The following tables present the changes in the allowance for credit losses, by loan segment, during the periods indicated: Three Months Ended March 31, 2024 Consumer Real Consumer and Total (Amounts in thousands) Commercial Estate Other Allowance Total allowance Balance at beginning of quarter: Allowance for credit losses - loans $ 21,850 $ 9,693 $ 4,646 $ 36,189 Allowance for credit losses - loan commitments 597 121 28 746 Total allowance for credit losses beginning of year 22,447 9,814 4,674 36,935 Provision for credit losses: Provision (recovery) for credit losses - loans (552 ) (135 ) 1,698 1,011 Provision for credit losses - loan commitments - - - - Total (recovery) provision for credit losses - loans and loan commitments (552 ) (135 ) 1,698 1,011 Charge-offs (362 ) (66 ) (2,020 ) (2,448 ) Recoveries 116 209 384 709 Net (charge-offs) recoveries (246 ) 143 (1,636 ) (1,739 ) Allowance for credit losses - loans 21,052 9,701 4,708 35,461 Allowance for credit losses - loan commitments 597 121 28 746 Ending balance $ 21,649 $ 9,822 $ 4,736 $ 36,207 Three Months Ended March 31, 2023 Consumer Real Consumer and Total (Amounts in thousands) Commercial Estate Other Allowance Total allowance Balance at beginning of quarter: Allowance for credit losses - loans $ 17,213 $ 8,931 $ 4,412 $ 30,556 Allowance for credit losses - loan commitments 1,018 156 22 1,196 Total allowance for credit losses beginning of year 18,231 9,087 4,434 31,752 Provision for credit losses: Provision for credit losses - loans 37 103 1,834 1,974 (Recovery) provision for credit losses - loan commitments (232 ) (6 ) 6 (232 ) Total (recovery) provision for credit losses - loans and loan commitments (195 ) 97 1,840 1,742 Charge-offs (173 ) (98 ) (2,299 ) (2,570 ) Recoveries 192 59 578 829 Net recoveries (charge-offs) 19 (39 ) (1,721 ) (1,741 ) Allowance for credit losses - loans 17,269 8,995 4,525 30,789 Allowance for credit losses - loan commitments 786 150 28 964 Ending balance $ 18,055 $ 9,145 $ 4,553 $ 31,753 |
Note 7 - Deposits
Note 7 - Deposits | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 7 . Deposits The following table presents the components of deposits as of the dates indicated: March 31, 2024 December 31, 2023 (Amounts in thousands) Noninterest-bearing demand deposits $ 902,396 $ 931,920 Interest-bearing deposits: Interest-bearing demand deposits 661,656 693,979 Money market accounts 329,310 307,487 Savings deposits 541,341 535,566 Certificates of deposit 163,827 166,417 Individual retirement accounts 83,685 86,956 Total interest-bearing deposits 1,779,819 1,790,405 Total deposits $ 2,682,215 $ 2,722,325 |
Note 8 - Borrowings
Note 8 - Borrowings | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8 . Borrowings The following table presents the components of borrowings as of the dates indicated: March 31, 2024 December 31, 2023 Weighted Weighted (Amounts in thousands) Balance Average Rate Balance Average Rate Retail repurchase agreements $ 1,006 0.05 % $ 1,119 0.06 % Repurchase agreements are secured by certain securities that remain under the Company’s control during the terms of the agreements. The Company had no long-term borrowings as of March 31, 2024 December 31, 2023 Unused borrowing capacity with the FHLB totaled $402.00 million, net of FHLB letters of credit of $123.34 million, as of March 31, 2024 March 31, 2024 |
Note 9 - Derivative Instruments
Note 9 - Derivative Instruments and Hedging Activities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 9 . Derivative Instruments and Hedging Activities Generally, derivative instruments help the Company manage exposure to market risk and meet customer financing needs. Market risk represents the possibility that fluctuations in external factors such as interest rates, market-driven loan rates, prices, or other economic factors will adversely affect economic value or net interest income. The Company has used interest rate swap contracts to modify its exposure to interest rate risk caused by changes in benchmark interest rates in relation to certain designated fixed rate loans. These instruments are used to convert these fixed rate loans to an effective floating rate. If the Secured Overnight Financing Rate ("SOFR") plus a spread falls below the loan’s stated fixed rate for a given period, the Company will owe the floating rate payer the notional amount times the difference between the floating rate and the stated fixed rate. If SOFR is above the stated rate for a given period, the Company will receive payments based on the notional amount times the difference between the floating rate and the stated fixed rate. Certain of the Company's interest rate swaps qualify as fair value hedging instruments; therefore, fair value changes in the derivative and hedged item attributable to the hedged risk are recognized in earnings in the same period. The fair value hedges were effective as of March 31, 2024 December 31, 2023 Through July 2022, not July 26, 2022, The following table presents the notional, or contractual, amounts and fair values of derivative instruments as of the dates indicated: March 31, 2024 December 31, 2023 Notional or Fair Value Notional or Fair Value Contractual Derivative Derivative Contractual Derivative Derivative (Amounts in thousands) Amount Assets Liabilities Amount Assets Liabilities Derivatives designated as hedges Interest rate swaps $ 3,447 $ 168 $ - $ 3,557 $ 136 $ - Total derivatives $ 3,447 $ 168 $ - $ 3,557 $ 136 $ - The following table presents the effect of derivative and hedging activity, if applicable, on the consolidated statements of income for the periods indicated: Three Months Ended March 31, (Amounts in thousands) 2024 2023 Income Statement Location Derivatives designated as hedges Interest rate swaps $ (27 ) $ (20 ) Interest and fees on loans Total derivative (income) expense $ (27 ) $ (20 ) |
Note 10 - Employee Benefit Plan
Note 10 - Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 10 . Employee Benefit Plans The Company maintains two 2021; Three Months Ended March 31, 2024 2023 Income Statement Location (Amounts in thousands) Service cost $ - $ - Salaries and employee benefits Interest cost 104 82 Other expense Amortization of prior service cost - - Other expense Amortization of losses 9 33 Other expense Net periodic cost $ 113 $ 115 |
Note 11 - Earnings Per Share
Note 11 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11 . Earnings per Share The following table presents the calculation of basic and diluted earnings per common share for the periods indicated: Three Months Ended March 31, 2024 2023 (Amounts in thousands, except share and per share data) Net income $ 12,845 $ 11,782 Adjust net income for fair value of restricted stock units (tax effected) 240 25 Net income for fully dilutive earnings per common share $ 13,085 $ 11,807 Weighted average common shares outstanding, basic 18,476,128 16,228,297 Dilutive effect of potential common shares Stock options 21,132 16,405 Unvested stock awards - - Restricted stock units 48,651 44,787 Total dilutive effect of potential common shares 69,782 61,192 Weighted average common shares outstanding, diluted 18,545,910 16,289,489 Basic earnings per common share $ 0.70 $ 0.73 Diluted earnings per common share 0.71 0.72 Antidilutive potential common shares Stock options - 131,198 Stock units - - Total potential antidilutive shares - 131,198 |
Note 12 - Accumulated Other Com
Note 12 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 12 . Accumulated Other Comprehensive Income (Loss) The following tables present the changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax and by component, during the periods indicated: Three Months Ended March 31, 2024 Unrealized Losses on Available- for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (11,126 ) $ 175 $ (10,951 ) Other comprehensive loss before reclassifications (948 ) (7 ) (955 ) Reclassified from AOCI - 7 7 Other comprehensive loss, net (948 ) - (948 ) Ending balance $ (12,074 ) $ 175 $ (11,899 ) Three Months Ended March 31, 2023 Unrealized Losses on Available- for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (15,621 ) $ (98 ) $ (15,719 ) Other comprehensive income before reclassifications 2,499 (26 ) 2,473 Reclassified from AOCI (5 ) 26 21 Other comprehensive income, net 2,494 - 2,494 Ending balance $ (13,127 ) $ (98 ) $ (13,225 ) The following table presents reclassifications out of AOCI, by component, during the periods indicated: Three Months Ended March 31, Income Statement (Amounts in thousands) 2024 2023 Line Item Affected Available-for-sale securities Gain recognized $ - $ (7 ) Net loss on sale of securities Reclassified out of AOCI, before tax - (7 ) Income before income taxes Income tax expense - (2 ) Income tax expense Reclassified out of AOCI, net of tax - (5 ) Net income Employee benefit plans Amortization of prior service cost $ - $ - Salaries and employee benefits Amortization of net actuarial benefit cost 9 33 Salaries and employee benefits Reclassified out of AOCI, before tax 9 33 Income before income taxes Income tax expense 2 7 Income tax expense Reclassified out of AOCI, net of tax 7 26 Net income Total reclassified out of AOCI, net of tax $ 7 $ 21 Net income ( 1 Amortization is included in net periodic pension cost. See Note 10, |
Note 13 - Fair Value
Note 13 - Fair Value | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | Note 13 . Fair Value Financial Instruments Measured at Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy ranks the inputs used in measuring fair value as follows: ● Level 1 ● Level 2 1 ● Level 3 no The Company uses fair value measurements to record adjustments to certain financial assets and liabilities on a recurring basis. The Company may may not Assets and Liabilities Reported at Fair Value on a Recurring Basis Available-for-sale Debt Securities Debt securities available-for-sale are reported at fair value on a recurring basis. The fair value of Level 1 not 2 may 2 3 Fair value models may not not 3 third 3 third Equity Securities. 1 not 2. Loans Held for Investment third Deferred Compensation Assets and Liabilities 1 Derivative Assets and Liabilities 2 The following tables summarize financial assets and liabilities recorded at fair value on a recurring basis, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: March 31, 2024 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 5,750 $ - $ 5,750 $ - U.S. Treasury securities 36,324 - 36,324 - Municipal securities 18,112 - 18,112 - Corporate Notes 26,916 26,916 Agency mortgage-backed securities 79,145 - 79,145 - Total available-for-sale debt securities 166,247 - 166,247 - Equity securities 55 - 55 - Fair value loans 3,279 - - 3,279 Derivative assets 168 - 168 - Deferred compensation assets 7,464 7,464 - - Deferred compensation liabilities 9,042 9,042 - - December 31, 2023 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 5,749 $ - $ 5,749 $ - U.S. Treasury securities 145,826 - 145,826 - Municipal securities 19,377 - 19,377 - Corporate notes 27,081 - 27,081 - Agency mortgage-backed securities 82,928 - 82,928 - Total available-for-sale debt securities 280,961 - 280,961 - Equity securities 55 - 55 - Fair value loans 3,421 - - 3,421 Derivative assets 136 - 136 - Deferred compensation assets 6,729 6,729 - - Deferred compensation liabilities 8,282 8,282 - - Assets Measured at Fair Value on a Nonrecurring Basis Impaired Loans 3 The Company maintains an active and robust problem credit identification system. The impairment review includes obtaining third two four third thirty forty-five third not OREO 3 The following tables present assets measured at fair value on a nonrecurring basis, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: March 31, 2024 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Collateral dependent assets with specific reserves $ 825 $ - $ - $ 825 OREO 374 - - 374 December 31, 2023 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Collateral dependent assets with specific reserves $ 825 $ - $ - $ 825 OREO 192 - - 192 Quantitative Information about Level 3 The following tables provides quantitative information for assets measured at fair value on a nonrecurring basis using Level 3 Discount Range Valuation Unobservable (Weighted Average) Technique Input March 31, 2024 Collateral dependent assets with specific reserves Discounted appraisals(1) Appraisal adjustments(2) 38% (38%) OREO Discounted appraisals (1) Appraisal adjustments (2) 20% to 100% (50%) ( 1 Fair value is generally based on appraisals of the underlying collateral. ( 2 Appraisals may Discount Range Valuation Unobservable (Weighted Average) Technique Input December 31, 2023 Collateral dependent assets with specific reserves Discounted appraisals (1) Appraisal adjustments (2) 42% (42%) OREO Discounted appraisals (1) Appraisal adjustments (2) 20% to 100% (60%) ( 1 Fair value is generally based on appraisals of the underlying collateral. ( 2 Appraisals may Fair Value of Financial Instruments The following tables present the carrying amounts and fair values of financial instruments, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: March 31, 2024 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 248,905 $ 248,905 $ 248,905 $ - $ - Debt securities available-for-sale 166,247 166,247 - 166,247 - Equity securities 55 55 - 55 - Loans held for investment, net of allowance 2,484,372 2,247,195 - - 2,247,195 Derivative financial assets 168 168 - 168 - Interest receivable 10,719 10,719 - 1,125 9,594 Deferred compensation assets 7,464 7,464 7,464 - - Liabilities Time deposits 247,512 243,842 - 243,842 - Securities sold under agreements to repurchase 1,006 1,006 - 1,006 - Interest payable 674 674 - 674 - Deferred compensation liabilities 9,042 9,042 9,042 - - December 31, 2023 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 116,420 $ 116,420 $ 116,420 $ - $ - Debt securities available-for-sale 280,961 280,961 - 280,961 - Equity securities 55 55 - 55 - Loans held for investment, net of allowance 2,536,109 2,350,071 - - 2,350,071 Interest receivable 10,881 10,881 - 1,246 9,635 Deferred compensation assets 6,729 6,729 6,729 - - Derivative assets 136 136 - 136 - Liabilities Time deposits 253,373 247,141 - 247,141 - Securities sold under agreements to repurchase 1,119 1,119 - 1,119 - Interest payable 556 556 - 556 - Deferred compensation liabilities 8,282 8,282 8,282 - - |
Note 14 - Litigation, Commitmen
Note 14 - Litigation, Commitments, and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 14 . Litigation, Commitments , and Contingencies Litigation On June 24, 2022, two one No may not We are currently a defendant in other legal actions and asserted claims in the normal course of business. Although we are unable to assess the ultimate outcome of each matter with certainty, we believe that the resolution of these actions should not Commitments and Contingencies The Company is a party to financial instruments with off balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit, and financial guarantees. These instruments involve, to varying degrees, elements of credit and interest rate risk beyond the amount recognized in the consolidated balance sheets. The contractual amounts of these instruments reflect the extent of involvement the Company has in particular classes of financial instruments. If the other party to a financial instrument does not Commitments to extend credit are agreements to lend to a customer as long as there is no may not may Standby letters of credit and financial guarantees are conditional commitments issued by the Company to guarantee the performance of a customer to a third The following table presents the off-balance sheet financial instruments as of the dates indicated: March 31, 2024 December 31, 2023 (Amounts in thousands) Commitments to extend credit $ 264,511 $ 277,462 Standby letters of credit and financial guarantees (1) 126,513 129,220 Total off-balance sheet risk $ 391,024 $ 406,682 ( 1 Includes FHLB letters of credit |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. Other Information (a) None. No may three March 31, 2024 none 16a 1 10b5 1 10b5 1 408 1934, |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Company’s accounting and reporting policies conform with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not one not may These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10 December 31, 2023 2023 10 March 8, 2024. December 31, 2023 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates Preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy [Policy Text Block] | Significant Accounting Policies The Company’s significant accounting policies are included in Note 1, 8 2023 10 Recent Accounting Standards Standards Not In December 2023, 2023 09, 740 1 2 not not The Company has not 2024 not |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | As recorded by Fair Value As recorded by (Amounts in thousands, except share and per share data ) Surrey Adjustments the Company Assets Cash and cash equivalents $ 176,700 $ - $ 176,700 Securities-available-for-sale 22,027 (1,093 ) ( a ) 20,934 Loans held for investment, net of allowance and mark 251,944 (12,864 ) ( b ) 239,080 Premises and equipment 5,501 774 ( c ) 6,275 Other assets 10,787 (229 ) ( d ), ( e ) 10,558 Intangible assets - 12,700 ( f ) 12,700 Total assets $ 466,959 $ (712 ) $ 466,247 LIABILITIES Deposits: Noninterest-bearing $ 158,389 $ - $ 158,389 Interest-bearing 246,460 (1,214 ) ( g ) 245,246 Total deposits 404,849 (1,214 ) 403,635 Long term debt - - - Other liabilities 6,004 (381 ) ( h ) 5,623 Total liabilities 410,853 (1,595 ) 409,258 Net identifiable assets acquired over liabilities assumed 56,106 883 56,989 Goodwill - 14,381 14,381 Net assets acquired over liabilities assumed $ 56,106 $ 15,264 $ 71,370 Consideration: First Community Bankshares, Inc. common stock issued 2,996,786 Purchase price per share of the Company's common stock $ 23.81 Fair value of Company common stock issued 71,354 Cash paid for fractional shares 16 Fair Value of total consideration transferred $ 71,370 |
Note 3 - Debt Securities (Table
Note 3 - Debt Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | March 31, 2024 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 5,750 $ - $ - $ 5,750 U.S. Treasury securities 36,384 2 (62 ) 36,324 Municipal securities 18,325 4 (217 ) 18,112 Corporate notes 28,574 - (1,658 ) 26,916 Agency mortgage-backed securities 92,496 - (13,351 ) 79,145 Total $ 181,529 $ 6 $ (15,288 ) $ 166,247 December 31, 2023 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 5,750 $ - $ (1 ) $ 5,749 U.S. Treasury securities 146,653 16 (843 ) 145,826 Municipal securities 19,528 11 (162 ) 19,377 Corporate notes 28,566 - (1,485 ) 27,081 Agency mortgage-backed securities 94,548 2 (11,622 ) 82,928 Total $ 295,045 $ 29 $ (14,113 ) $ 280,961 |
Investments Classified by Contractual Maturity Date [Table Text Block] | March 31, 2024 Amortized (Amounts in thousands) Cost Fair Value Available-for-sale debt securities Due within one year $ 47,332 $ 47,266 Due after one year but within five years 41,701 39,836 Due after five years but within ten years - - 89,033 87,102 Agency mortgage-backed securities 92,496 79,145 Total debt securities available-for-sale $ 181,529 $ 166,247 |
Gain (Loss) on Securities [Table Text Block] | March 31, 2024 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ 5,750 $ - $ - $ - $ 5,750 $ - U.S. Treasury securities 5,283 (12 ) 25,684 (50 ) 30,967 (62 ) Municipal securities 3,944 (21 ) 7,713 (196 ) 11,657 (217 ) Corporate notes - - 26,916 (1,658 ) 26,916 (1,658 ) Agency mortgage-backed securities 4,546 (52 ) 74,598 (13,299 ) 79,144 (13,351 ) Total $ 19,523 $ (85 ) $ 134,911 $ (15,203 ) $ 154,434 $ (15,288 ) December 31, 2023 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Agency securities $ 5,749 $ (1 ) $ — $ — $ 5,749 $ (1 ) U.S. Treasury securities 11,417 (14 ) 129,108 (829 ) 140,525 (843 ) Municipal securities 4,742 (20 ) 5,484 (142 ) 10,226 (162 ) Corporate notes — — 27,081 (1,485 ) 27,081 (1,485 ) Agency mortgage-backed securities 3,421 (10 ) 78,319 (11,612 ) 81,740 (11,622 ) Total $ 25,329 $ (45 ) $ 239,992 $ (14,068 ) $ 265,321 $ (14,113 ) |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended March 31, 2024 2023 (Amounts in thousands) Gross realized gains $ - $ 7 Gross realized losses - - Net gain (loss) on sale of securities $ - $ 7 |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2024 December 31, 2023 (Amounts in thousands) Amount Percent Amount Percent Loans held for investment Commercial loans Construction, development, and other land $ 88,841 3.53 % $ 105,945 4.12 % Commercial and industrial 203,530 8.08 % 211,850 8.24 % Multi-family residential 194,188 7.71 % 188,382 7.32 % Single family non-owner occupied 219,669 8.72 % 224,895 8.74 % Non-farm, non-residential 887,255 35.21 % 894,550 34.78 % Agricultural 19,763 0.78 % 21,669 0.84 % Farmland 13,572 0.53 % 14,202 0.55 % Total commercial loans 1,626,818 64.56 % 1,661,493 64.59 % Consumer real estate loans Home equity lines 87,181 3.46 % 87,626 3.41 % Single family owner occupied 687,810 27.30 % 696,140 27.06 % Owner occupied construction 5,848 0.23 % 8,445 0.33 % Total consumer real estate loans 780,839 30.99 % 792,211 30.80 % Consumer and other loans Consumer loans 110,787 4.40 % 117,091 4.55 % Other 1,389 0.05 % 1,503 0.06 % Total consumer and other loans 112,176 4.45 % 118,594 4.61 % Total loans held for investment, net of unearned income $ 2,519,833 100.00 % $ 2,572,298 100.00 % |
Note 5 - Credit Quality (Tables
Note 5 - Credit Quality (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2024 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Commercial loans Construction, development, and other land $ 86,265 $ 2,164 $ 412 $ - $ - $ 88,841 Commercial and industrial 198,318 2,128 3,084 - - 203,530 Multi-family residential 190,417 3,485 286 - - 194,188 Single family non-owner occupied 210,540 1,983 7,146 - - 219,669 Non-farm, non-residential 858,461 15,272 13,522 - - 887,255 Agricultural 13,982 3,786 1,995 - - 19,763 Farmland 12,015 475 1,082 - - 13,572 Consumer real estate loans Home equity lines 83,592 544 3,045 - - 87,181 Single family owner occupied 661,705 2,277 23,828 - - 687,810 Owner occupied construction 5,848 - - - - 5,848 Consumer and other loans Consumer loans 108,713 2 2,072 - - 110,787 Other 1,389 - - - - 1,389 Total loans $ 2,431,245 $ 32,116 $ 56,472 $ - $ - $ 2,519,833 December 31, 2023 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Commercial loans Construction, development, and other land $ 103,573 $ 1,955 $ 417 $ - $ - $ 105,945 Commercial and industrial 207,034 2,097 2,719 - - 211,850 Multi-family residential 184,565 3,522 295 - - 188,382 Single family non-owner occupied 215,375 2,016 7,504 - - 224,895 Non-farm, non-residential 866,711 15,240 12,599 - - 894,550 Agricultural 15,944 3,878 1,847 - - 21,669 Farmland 12,480 484 1,238 - - 14,202 Consumer real estate loans Home equity lines 83,769 546 3,311 - - 87,626 Single family owner occupied 669,878 2,360 23,902 - - 696,140 Owner occupied construction 8,445 - - - - 8,445 Consumer and other loans Consumer loans 114,725 4 2,362 - - 117,091 Other 1,503 - - - - 1,503 Total loans $ 2,484,002 $ 32,102 $ 56,194 $ - $ - $ 2,572,298 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Total Construction, development and other land Pass $ 918 $ 12,689 $ 35,682 $ 24,233 $ 4,020 $ 6,069 $ 2,654 $ 86,265 Special mention - 1,973 - - 117 74 - 2,164 Substandard - - - - 12 400 - 412 Doubtful - - - - - - - - Loss - - - - - - - - Total construction, development, and other land $ 918 $ 14,662 $ 35,682 $ 24,233 $ 4,149 $ 6,543 $ 2,654 $ 88,841 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial Pass $ 7,585 $ 47,322 $ 60,226 $ 16,907 $ 10,311 $ 15,891 $ 40,076 $ 198,318 Special mention - - 218 118 - 1,691 101 2,128 Substandard - 197 861 450 28 1,548 - 3,084 Doubtful - - - - - - - - Loss - - - - - - - - Total commercial and industrial $ 7,585 $ 47,519 $ 61,305 $ 17,475 $ 10,339 $ 19,130 $ 40,177 $ 203,530 Current period gross write-offs $ - $ 37 $ 173 $ - $ 9 $ 1 $ - $ 220 Multi-family residential Pass $ 306 $ 6,791 $ 74,704 $ 36,344 $ 29,717 $ 39,054 $ 3,501 $ 190,417 Special mention - - - - - 3,485 - 3,485 Substandard - - 114 - - 172 - 286 Doubtful - - - - - - - - Loss - - - - - - - - Total multi-family residential $ 306 $ 6,791 $ 74,818 $ 36,344 $ 29,717 $ 42,711 $ 3,501 $ 194,188 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Non-farm, non-residential Pass $ 8,635 $ 82,850 $ 239,174 $ 149,473 $ 112,692 $ 257,164 $ 8,473 $ 858,461 Special mention - 62 579 2,566 811 11,254 - 15,272 Substandard - 1,142 297 1,944 680 9,317 142 13,522 Doubtful - - - - - - - - Loss - - - - - - - - Total non-farm, non-residential $ 8,635 $ 84,054 $ 240,050 $ 153,983 $ 114,183 $ 277,735 $ 8,615 $ 887,255 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Agricultural Pass $ 108 $ 4,380 $ 3,850 $ 2,108 $ 463 $ 2,360 $ 713 $ 13,982 Special mention - - 271 178 7 3,330 - 3,786 Substandard - 397 23 101 117 1,357 - 1,995 Doubtful - - - - - - - - Loss - - - - - - - - Total agricultural $ 108 $ 4,777 $ 4,144 $ 2,387 $ 587 $ 7,047 $ 713 $ 19,763 Current period gross write-offs $ - $ 82 $ 60 $ - $ - $ - $ - $ 142 Farmland Pass $ 389 $ 1,370 $ 1,213 $ 1,517 $ 889 $ 5,683 $ 954 $ 12,015 Special mention - - - 102 - 373 - 475 Substandard - - - - - 1,082 - 1,082 Doubtful - - - - - - - - Loss - - - - - - - - Total farmland $ 389 $ 1,370 $ 1,213 $ 1,619 $ 889 $ 7,138 $ 954 $ 13,572 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Total Home equity lines Pass $ 4 $ 1 $ 947 $ 84 $ 72 $ 3,659 $ 78,825 $ 83,592 Special mention - - - - - 44 500 544 Substandard - - 69 - 25 1,842 1,109 3,045 Doubtful - - - - - - - - Loss - - - - - - - - Total home equity lines $ 4 $ 1 $ 1,016 $ 84 $ 97 $ 5,545 $ 80,434 $ 87,181 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ 15 $ 15 Single family Mortgage Pass $ 4,576 $ 51,915 $ 164,857 $ 217,495 $ 186,126 $ 246,880 $ 396 $ 872,245 Special mention - - - 460 97 3,703 - 4,260 Substandard - 235 845 1,510 1,222 27,162 - 30,974 Doubtful - - - - - - - - Loss - - - - - - - - Total single family owner and non-owner occupied $ 4,576 $ 52,150 $ 165,702 $ 219,465 $ 187,445 $ 277,745 $ 396 $ 907,479 Current period gross write-offs $ - $ - $ - $ 31 $ - $ 20 $ - $ 51 Owner occupied construction Pass $ 287 $ 3,416 $ 1,575 $ 235 $ - $ 335 $ - $ 5,848 Special mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Loss - - - - - - - - Total owner occupied construction $ 287 $ 3,416 $ 1,575 $ 235 $ - $ 335 $ - $ 5,848 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer loans Pass $ 7,066 $ 30,143 $ 37,742 $ 17,711 $ 6,302 $ 3,167 $ 7,971 $ 110,102 Special mention - - - 1 - - 1 2 Substandard - 278 914 367 117 345 51 2,072 Doubtful - - - - - - - - Loss - - - - - - - - Total consumer loans $ 7,066 $ 30,421 $ 38,656 $ 18,079 $ 6,419 $ 3,512 $ 8,023 $ 112,176 Current period gross write-offs $ 282 $ 414 $ 746 $ 348 $ 60 $ 48 $ 122 $ 2,020 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Total Total loans Pass $ 29,874 $ 240,877 $ 619,970 $ 466,107 $ 350,592 $ 580,262 $ 143,563 $ 2,431,245 Special mention - 2,035 1,068 3,425 1,032 23,954 602 32,116 Substandard - 2,249 3,123 4,372 2,201 43,225 1,302 56,472 Doubtful - - - - - - - - Loss - - - - - - - - Total loans $ 29,874 $ 245,161 $ 624,161 $ 473,904 $ 353,825 $ 647,441 $ 145,467 $ 2,519,833 Current period gross write-offs $ 282 $ 533 $ 979 $ 379 $ 69 $ 69 $ 137 $ 2,448 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Construction, development and other land Pass $ 12,379 $ 54,752 $ 23,328 $ 4,121 $ 2,700 $ 3,874 $ 2,419 $ 103,573 Special Mention 1,737 - - 139 - 79 - 1,955 Substandard - - - - 175 242 - 417 Doubtful - - - - - - - - Loss - - - - - - - - Total construction, development, and other land $ 14,116 $ 54,752 $ 23,328 $ 4,260 $ 2,875 $ 4,195 $ 2,419 $ 105,945 Current period gross write-offs $ - $ - $ - $ - $ 13 $ - $ - $ 13 Commercial and industrial Pass $ 53,619 $ 64,380 $ 19,477 $ 11,538 $ 5,717 $ 11,775 $ 40,528 $ 207,034 Special Mention - 229 11 - 349 1,408 100 2,097 Substandard 51 744 276 86 926 636 - 2,719 Doubtful - - - - - - - - Loss - - - - - - - - Total commercial and industrial $ 53,670 $ 65,353 $ 19,764 $ 11,624 $ 6,992 $ 13,819 $ 40,628 $ 211,850 Current period gross write-offs $ 66 $ 168 $ 201 $ 51 $ 32 $ 66 $ - $ 584 Multi-family residential Pass $ 6,753 $ 67,484 $ 36,621 $ 30,021 $ 3,280 $ 36,982 $ 3,424 $ 184,565 Special Mention - - - - - 3,522 - 3,522 Substandard - - - - - 295 - 295 Doubtful - - - - - - - - Loss - - - - - - - - Total multi-family residential $ 6,753 $ 67,484 $ 36,621 $ 30,021 $ 3,280 $ 40,799 $ 3,424 $ 188,382 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Non-farm, non-residential Pass $ 83,420 $ 234,607 $ 151,433 $ 114,974 $ 53,466 $ 217,034 $ 11,777 $ 866,711 Special Mention 65 583 2,590 819 - 11,132 51 15,240 Substandard 1,175 238 1,968 690 3,175 5,143 210 12,599 Doubtful - - - - - - - - Loss - - - - - - - - Total non-farm, non-residential $ 84,660 $ 235,428 $ 155,991 $ 116,483 $ 56,641 $ 233,309 $ 12,038 $ 894,550 Current period gross write-offs $ - $ 8 $ - $ - $ - $ 2 $ - $ 10 Agricultural Pass $ 5,004 $ 4,215 $ 2,352 $ 625 $ 674 $ 2,094 $ 980 $ 15,944 Special Mention 28 276 184 8 90 3,292 - 3,878 Substandard 157 166 50 28 1,188 258 - 1,847 Doubtful - - - - - - - - Loss - - - - - - - - Total agricultural $ 5,189 $ 4,657 $ 2,586 $ 661 $ 1,952 $ 5,644 $ 980 $ 21,669 Current period gross write-offs $ - $ 59 $ - $ 9 $ 14 $ 8 $ - $ 90 Farmland Pass $ 1,380 $ 1,237 $ 1,557 $ 912 $ 745 $ 5,766 $ 883 $ 12,480 Special Mention - - 103 - - 381 - 484 Substandard - - - - - 1,238 - 1,238 Doubtful - - - - - - - - Loss - - - - - - - - Total farmland $ 1,380 $ 1,237 $ 1,660 $ 912 $ 745 $ 7,385 $ 883 $ 14,202 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Home equity lines Pass $ 9 $ 962 $ 86 $ 73 $ 68 $ 3,800 $ 78,771 $ 83,769 Special Mention - - - - - 45 501 546 Substandard - 12 - 27 102 1,853 1,317 3,311 Doubtful - - - - - - - - Loss - - - - - - - - Total home equity lines $ 9 $ 974 $ 86 $ 100 $ 170 $ 5,698 $ 80,589 $ 87,626 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ 227 $ 227 Single family Mortgage Pass $ 50,826 $ 164,974 $ 221,352 $ 191,156 $ 44,974 $ 211,540 $ 431 $ 885,253 Special Mention - - 465 98 108 3,705 - 4,376 Substandard 236 555 1,464 1,381 1,515 26,255 - 31,406 Doubtful - - - - - - - - Loss - - - - - - - - Total single family owner and non-owner occupied $ 51,062 $ 165,529 $ 223,281 $ 192,635 $ 46,597 $ 241,500 $ 431 $ 921,035 Current period gross write-offs $ - $ - $ 47 $ - $ - $ 194 $ - $ 241 Owner occupied construction Pass $ 3,620 $ 4,232 $ 240 $ - $ 21 $ 332 $ - $ 8,445 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Loss - - - - - - - - Total owner occupied construction $ 3,620 $ 4,232 $ 240 $ - $ 21 $ 332 $ - $ 8,445 Current period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer loans Pass $ 31,243 $ 43,675 $ 20,672 $ 7,710 $ 3,214 $ 1,026 $ 8,688 $ 116,228 Special Mention - - 3 - - - 1 4 Substandard 338 820 590 198 157 212 47 2,362 Doubtful - - - - - - - - Loss - - - - - - - - Total consumer loans $ 31,581 $ 44,495 $ 21,265 $ 7,908 $ 3,371 $ 1,238 $ 8,736 $ 118,594 Current period gross write-offs $ 1,238 $ 3,594 $ 1,852 $ 518 $ 196 $ 77 $ 185 $ 7,660 (Amounts in thousands) Term Loans Amortized Cost Basis by Origination Year Balance at December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Total loans Pass $ 248,253 $ 640,518 $ 477,118 $ 361,130 $ 114,859 $ 494,223 $ 147,901 $ 2,484,002 Special mention 1,830 1,088 3,356 1,064 547 23,564 653 32,102 Substandard 1,957 2,535 4,348 2,410 7,238 36,132 1,574 56,194 Doubtful - - - - - - - - Loss - - - - - - - - Total loans $ 252,040 $ 644,141 $ 484,822 $ 364,604 $ 122,644 $ 553,919 $ 150,128 $ 2,572,298 Current period gross write-offs $ 1,304 $ 3,829 $ 2,100 $ 578 $ 255 $ 347 $ 412 $ 8,825 |
Financing Receivable, Nonaccrual [Table Text Block] | March 31, 2024 December 31, 2023 (Amounts in thousands) No Allowance With an Allowance Total No Allowance With an Allowance Total Commercial loans Construction, development, and other land $ 166 $ - $ 166 $ 172 $ — $ 172 Commercial and industrial 1,333 - 1,333 1,438 — 1,438 Multi-family residential 174 - 174 183 — 183 Single family non-owner occupied 978 - 978 832 — 832 Non-farm, non-residential 1,931 1,140 3,071 1,271 1,173 2,444 Agricultural 1,499 - 1,499 1,558 — 1,558 Farmland 125 - 125 123 — 123 Consumer real estate loans Home equity lines 1,229 - 1,229 1,335 — 1,335 Single family owner occupied 9,392 - 9,392 9,365 — 9,365 Owner occupied construction - - - — — — Consumer and other loans Consumer loans 1,650 - 1,650 1,906 — 1,906 Total nonaccrual loans $ 18,477 $ 1,140 $ 19,617 $ 18,183 $ 1,173 $ 19,356 |
Financing Receivable, Past Due [Table Text Block] | March 31, 2024 Amortized Cost of 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total > 90 Days Accruing (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans No Allowance Commercial loans Construction, development, and other land $ 23 $ 6 $ 23 $ 52 $ 88,789 $ 88,841 $ - Commercial and industrial 1,000 435 439 1,874 201,656 203,530 - Multi-family residential 112 - 114 226 193,962 194,188 - Single family non-owner occupied 688 - 219 907 218,762 219,669 - Non-farm, non-residential 1,896 - 955 2,851 884,404 887,255 - Agricultural 417 272 246 935 18,828 19,763 - Farmland 123 2 - 125 13,447 13,572 - Consumer real estate loans Home equity lines 551 159 430 1,140 86,041 87,181 - Single family owner occupied 5,204 1,841 3,780 10,825 676,985 687,810 - Owner occupied construction - - - - 5,848 5,848 - Consumer and other loans Consumer loans 2,916 927 568 4,411 106,376 110,787 - Other - - - - 1,389 1,389 - Total loans $ 12,930 $ 3,642 $ 6,774 $ 23,346 $ 2,496,487 $ 2,519,833 $ - December 31, 2023 Amortized Cost of 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total > 90 Days Accruing (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans No Allowance Commercial loans Construction, development, and other land $ 38 $ 6 $ 23 $ 67 $ 105,878 $ 105,945 $ — Commercial and industrial 1,232 766 390 2,388 209,462 211,850 — Multi-family residential 115 68 — 183 188,199 188,382 — Single family non-owner occupied 777 455 232 1,464 223,431 224,895 — Non-farm, non-residential 617 229 382 1,228 893,322 894,550 — Agricultural 22 56 217 295 21,374 21,669 — Farmland 15 — — 15 14,187 14,202 — Consumer real estate loans Home equity lines 639 343 534 1,516 86,110 87,626 — Single family owner occupied 6,108 2,831 3,519 12,458 683,682 696,140 — Owner occupied construction — — — — 8,445 8,445 — Consumer and other loans Consumer loans 4,390 1,440 1,087 6,917 110,174 117,091 — Other — — — — 1,503 1,503 — Total loans $ 13,953 $ 6,194 $ 6,384 $ 26,531 $ 2,545,767 $ 2,572,298 $ — |
Collateral Dependent Loans [Table Text Block] | March 31, 2024 December 31, 2023 (Amounts in thousands) Balance Collateral Coverage % Balance Collateral Coverage % Commercial Real Estate Other $ 1,140 $ 825 72.37 % $ 1,173 $ 825 70.33 % Total collateral dependent loans $ 1,140 $ 825 72.37 % $ 1,173 $ 825 70.33 % |
Financing Receivable, Modified [Table Text Block] | Payment Delays Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Non farm, non residential property $ 662 0.08 % Deferred 6 months of interest to loan maturity Single family owner occupied 540 0.08 % Deferred $66 thousand in principal to loan maturity Single family non owner occupied 87 0.04 % Deferred 6 months of interest to loan maturity Commercial & industrial 161 0.08 % Deferred $8 thousand in principal to loan maturity Total $ 1,450 Term Extensions Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Consumer $ 5 0.01 % Extended term from 60 to 84 months Total $ 5 Principal Forgiveness Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 3 0.00 % Reduced amortized cost basis by $13 thousand Total $ 3 Term Extension and Rate Reduction Amortized Cost Basis % of Total Class of March 31, 2024 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 719 0.11 % Reduced interest income and extended time to recover principal. Total $ 719 Payment Delays Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Non farm, non residential property $ 662 0.07 % Deferred 6 months of interest to loan maturity Single family owner occupied 548 0.08 % Deferred $66 thousand in principal to loan maturity Single family non owner occupied 89 0.04 % Deferred 6 months of interest to loan maturity Commercial & industrial 171 0.08 % Deferred $8 thousand in principal to loan maturity Total $ 1,470 Term Extensions Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Consumer $ 6 0.01 % Extended term from 60 to 84 months Total $ 6 Principal Forgiveness Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 5 0.00 % Reduced amortized cost basis by $13 thousand Total $ 5 Term Extension and Rate Reduction Amortized Cost Basis % of Total Class of December 31, 2023 Financing Receivable Financial Effect (Amounts in thousands) Single family owner occupied $ 565 0.08 % Reduced interest income and extended time to recover principal Total $ 565 March 31, 2024 Payment Status (Amortized Cost Basis) Current 30-89 Days Past Due 90+ Days Past Due (Amounts in thousands) Non farm, non residential property $ 662 $ - $ - Single family owner occupied 1,012 250 - Single family non owner occupied 87 - - Commercial & Industrial 161 - - Consumer 5 - - Total $ 1,927 $ 250 $ - December 31, 2023 Payment Status (Amortized Cost Basis) Current 30-89 Days Past Due 90+ Days Past Due (Amounts in thousands) Non farm, non residential $ 662 $ - $ - Single family owner occupied 864 254 - Single family non owner occupied 89 - - Commercial & industrial 171 - - Consumer 6 - - Total $ 1,792 $ 254 $ - |
Other Real Estate Owned [Table Text Block] | March 31, 2024 December 31, 2023 (Amounts in thousands) OREO $ 374 $ 192 OREO secured by residential real estate $ 374 $ 192 Residential real estate loans in the foreclosure process (1) $ 2,657 $ 1,895 |
Note 6 - Allowance for Credit_2
Note 6 - Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three Months Ended March 31, 2024 Consumer Real Consumer and Total (Amounts in thousands) Commercial Estate Other Allowance Total allowance Balance at beginning of quarter: Allowance for credit losses - loans $ 21,850 $ 9,693 $ 4,646 $ 36,189 Allowance for credit losses - loan commitments 597 121 28 746 Total allowance for credit losses beginning of year 22,447 9,814 4,674 36,935 Provision for credit losses: Provision (recovery) for credit losses - loans (552 ) (135 ) 1,698 1,011 Provision for credit losses - loan commitments - - - - Total (recovery) provision for credit losses - loans and loan commitments (552 ) (135 ) 1,698 1,011 Charge-offs (362 ) (66 ) (2,020 ) (2,448 ) Recoveries 116 209 384 709 Net (charge-offs) recoveries (246 ) 143 (1,636 ) (1,739 ) Allowance for credit losses - loans 21,052 9,701 4,708 35,461 Allowance for credit losses - loan commitments 597 121 28 746 Ending balance $ 21,649 $ 9,822 $ 4,736 $ 36,207 Three Months Ended March 31, 2023 Consumer Real Consumer and Total (Amounts in thousands) Commercial Estate Other Allowance Total allowance Balance at beginning of quarter: Allowance for credit losses - loans $ 17,213 $ 8,931 $ 4,412 $ 30,556 Allowance for credit losses - loan commitments 1,018 156 22 1,196 Total allowance for credit losses beginning of year 18,231 9,087 4,434 31,752 Provision for credit losses: Provision for credit losses - loans 37 103 1,834 1,974 (Recovery) provision for credit losses - loan commitments (232 ) (6 ) 6 (232 ) Total (recovery) provision for credit losses - loans and loan commitments (195 ) 97 1,840 1,742 Charge-offs (173 ) (98 ) (2,299 ) (2,570 ) Recoveries 192 59 578 829 Net recoveries (charge-offs) 19 (39 ) (1,721 ) (1,741 ) Allowance for credit losses - loans 17,269 8,995 4,525 30,789 Allowance for credit losses - loan commitments 786 150 28 964 Ending balance $ 18,055 $ 9,145 $ 4,553 $ 31,753 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | March 31, 2024 December 31, 2023 (Amounts in thousands) Noninterest-bearing demand deposits $ 902,396 $ 931,920 Interest-bearing deposits: Interest-bearing demand deposits 661,656 693,979 Money market accounts 329,310 307,487 Savings deposits 541,341 535,566 Certificates of deposit 163,827 166,417 Individual retirement accounts 83,685 86,956 Total interest-bearing deposits 1,779,819 1,790,405 Total deposits $ 2,682,215 $ 2,722,325 |
Note 8 - Borrowings (Tables)
Note 8 - Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, 2024 December 31, 2023 Weighted Weighted (Amounts in thousands) Balance Average Rate Balance Average Rate Retail repurchase agreements $ 1,006 0.05 % $ 1,119 0.06 % |
Note 9 - Derivative Instrumen_2
Note 9 - Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | March 31, 2024 December 31, 2023 Notional or Fair Value Notional or Fair Value Contractual Derivative Derivative Contractual Derivative Derivative (Amounts in thousands) Amount Assets Liabilities Amount Assets Liabilities Derivatives designated as hedges Interest rate swaps $ 3,447 $ 168 $ - $ 3,557 $ 136 $ - Total derivatives $ 3,447 $ 168 $ - $ 3,557 $ 136 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended March 31, (Amounts in thousands) 2024 2023 Income Statement Location Derivatives designated as hedges Interest rate swaps $ (27 ) $ (20 ) Interest and fees on loans Total derivative (income) expense $ (27 ) $ (20 ) |
Note 10 - Employee Benefit Pl_2
Note 10 - Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended March 31, 2024 2023 Income Statement Location (Amounts in thousands) Service cost $ - $ - Salaries and employee benefits Interest cost 104 82 Other expense Amortization of prior service cost - - Other expense Amortization of losses 9 33 Other expense Net periodic cost $ 113 $ 115 |
Note 11 - Earnings Per Share (T
Note 11 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2024 2023 (Amounts in thousands, except share and per share data) Net income $ 12,845 $ 11,782 Adjust net income for fair value of restricted stock units (tax effected) 240 25 Net income for fully dilutive earnings per common share $ 13,085 $ 11,807 Weighted average common shares outstanding, basic 18,476,128 16,228,297 Dilutive effect of potential common shares Stock options 21,132 16,405 Unvested stock awards - - Restricted stock units 48,651 44,787 Total dilutive effect of potential common shares 69,782 61,192 Weighted average common shares outstanding, diluted 18,545,910 16,289,489 Basic earnings per common share $ 0.70 $ 0.73 Diluted earnings per common share 0.71 0.72 Antidilutive potential common shares Stock options - 131,198 Stock units - - Total potential antidilutive shares - 131,198 |
Note 12 - Accumulated Other C_2
Note 12 - Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended March 31, 2024 Unrealized Losses on Available- for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (11,126 ) $ 175 $ (10,951 ) Other comprehensive loss before reclassifications (948 ) (7 ) (955 ) Reclassified from AOCI - 7 7 Other comprehensive loss, net (948 ) - (948 ) Ending balance $ (12,074 ) $ 175 $ (11,899 ) Three Months Ended March 31, 2023 Unrealized Losses on Available- for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (15,621 ) $ (98 ) $ (15,719 ) Other comprehensive income before reclassifications 2,499 (26 ) 2,473 Reclassified from AOCI (5 ) 26 21 Other comprehensive income, net 2,494 - 2,494 Ending balance $ (13,127 ) $ (98 ) $ (13,225 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended March 31, Income Statement (Amounts in thousands) 2024 2023 Line Item Affected Available-for-sale securities Gain recognized $ - $ (7 ) Net loss on sale of securities Reclassified out of AOCI, before tax - (7 ) Income before income taxes Income tax expense - (2 ) Income tax expense Reclassified out of AOCI, net of tax - (5 ) Net income Employee benefit plans Amortization of prior service cost $ - $ - Salaries and employee benefits Amortization of net actuarial benefit cost 9 33 Salaries and employee benefits Reclassified out of AOCI, before tax 9 33 Income before income taxes Income tax expense 2 7 Income tax expense Reclassified out of AOCI, net of tax 7 26 Net income Total reclassified out of AOCI, net of tax $ 7 $ 21 Net income |
Note 13 - Fair Value (Tables)
Note 13 - Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2024 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 5,750 $ - $ 5,750 $ - U.S. Treasury securities 36,324 - 36,324 - Municipal securities 18,112 - 18,112 - Corporate Notes 26,916 26,916 Agency mortgage-backed securities 79,145 - 79,145 - Total available-for-sale debt securities 166,247 - 166,247 - Equity securities 55 - 55 - Fair value loans 3,279 - - 3,279 Derivative assets 168 - 168 - Deferred compensation assets 7,464 7,464 - - Deferred compensation liabilities 9,042 9,042 - - December 31, 2023 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. Agency securities $ 5,749 $ - $ 5,749 $ - U.S. Treasury securities 145,826 - 145,826 - Municipal securities 19,377 - 19,377 - Corporate notes 27,081 - 27,081 - Agency mortgage-backed securities 82,928 - 82,928 - Total available-for-sale debt securities 280,961 - 280,961 - Equity securities 55 - 55 - Fair value loans 3,421 - - 3,421 Derivative assets 136 - 136 - Deferred compensation assets 6,729 6,729 - - Deferred compensation liabilities 8,282 8,282 - - |
Fair Value Measurements, Nonrecurring [Table Text Block] | March 31, 2024 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Collateral dependent assets with specific reserves $ 825 $ - $ - $ 825 OREO 374 - - 374 December 31, 2023 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Collateral dependent assets with specific reserves $ 825 $ - $ - $ 825 OREO 192 - - 192 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Discount Range Valuation Unobservable (Weighted Average) Technique Input March 31, 2024 Collateral dependent assets with specific reserves Discounted appraisals(1) Appraisal adjustments(2) 38% (38%) OREO Discounted appraisals (1) Appraisal adjustments (2) 20% to 100% (50%) Discount Range Valuation Unobservable (Weighted Average) Technique Input December 31, 2023 Collateral dependent assets with specific reserves Discounted appraisals (1) Appraisal adjustments (2) 42% (42%) OREO Discounted appraisals (1) Appraisal adjustments (2) 20% to 100% (60%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2024 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 248,905 $ 248,905 $ 248,905 $ - $ - Debt securities available-for-sale 166,247 166,247 - 166,247 - Equity securities 55 55 - 55 - Loans held for investment, net of allowance 2,484,372 2,247,195 - - 2,247,195 Derivative financial assets 168 168 - 168 - Interest receivable 10,719 10,719 - 1,125 9,594 Deferred compensation assets 7,464 7,464 7,464 - - Liabilities Time deposits 247,512 243,842 - 243,842 - Securities sold under agreements to repurchase 1,006 1,006 - 1,006 - Interest payable 674 674 - 674 - Deferred compensation liabilities 9,042 9,042 9,042 - - December 31, 2023 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 116,420 $ 116,420 $ 116,420 $ - $ - Debt securities available-for-sale 280,961 280,961 - 280,961 - Equity securities 55 55 - 55 - Loans held for investment, net of allowance 2,536,109 2,350,071 - - 2,350,071 Interest receivable 10,881 10,881 - 1,246 9,635 Deferred compensation assets 6,729 6,729 6,729 - - Derivative assets 136 136 - 136 - Liabilities Time deposits 253,373 247,141 - 247,141 - Securities sold under agreements to repurchase 1,119 1,119 - 1,119 - Interest payable 556 556 - 556 - Deferred compensation liabilities 8,282 8,282 8,282 - - |
Note 14 - Litigation, Commitm_2
Note 14 - Litigation, Commitments, and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | March 31, 2024 December 31, 2023 (Amounts in thousands) Commitments to extend credit $ 264,511 $ 277,462 Standby letters of credit and financial guarantees (1) 126,513 129,220 Total off-balance sheet risk $ 391,024 $ 406,682 |
Note 2 - Acquisitions (Details
Note 2 - Acquisitions (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Apr. 21, 2023 USD ($) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) | Nov. 18, 2022 | |||
Business Combination, Acquisition Related Costs | $ 379 | |||||||
Goodwill | $ 143,946 | $ 143,946 | [1] | |||||
Surrey [Member] | ||||||||
Business Combination, Stock Conversion Ratio | 0.7159 | |||||||
Business Combination, Consideration Transferred | $ 71,370 | |||||||
Business Combination, Acquisition Related Costs | 2,990 | $ 596 | $ 2,390 | |||||
Goodwill | 14,381 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | [2] | 12,700 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 111,220 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows | 2,010 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non Purchased Loans | 143,550 | |||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Loans Acqured | (15,800) | |||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Investment Securities | 47 | |||||||
Surrey [Member] | Reclassification, Other [Member] | ||||||||
Goodwill | 282 | |||||||
Federal Income Payable | 389 | |||||||
State Income Tax Payable | 8 | |||||||
Surrey [Member] | Recorded By Surrey [Member] | ||||||||
Goodwill | 0 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | [2] | 0 | ||||||
Deferred Loan Fees | 2,940 | |||||||
Surrey [Member] | Fair Value Adjustments [Member] | ||||||||
Goodwill | 14,381 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | [2] | 12,700 | ||||||
Deferred Tax Assets, Gross | 177 | |||||||
Surrey [Member] | Scenario, Adjustment [Member] | Reclassification, Other [Member] | ||||||||
Deferred Tax Assets, Gross | 99 | |||||||
Surrey [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 101,420 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non Purchased Loans | $ 137,550 | |||||||
[1]Derived from audited financial statements[2]Adjustment to record the core deposit intangible on the acquired deposit accounts. |
Note 2 - Acquisitions - Surrey
Note 2 - Acquisitions - Surrey Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands | Apr. 21, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | [1] | |
Noninterest-bearing | $ 902,396 | $ 931,920 | |||
Interest-bearing | 1,779,819 | 1,790,405 | |||
Total deposits | 2,682,215 | 2,722,325 | |||
Goodwill | $ 143,946 | $ 143,946 | |||
Surrey [Member] | |||||
Cash and cash equivalents | $ 176,700 | ||||
Securities-available-for-sale | [2] | 20,934 | |||
Loans held for investment, net of allowance and mark | [3] | 239,080 | |||
Premises and equipment | [4] | 6,275 | |||
Other assets | [5],[6] | 10,558 | |||
Intangible assets | [7] | 12,700 | |||
Total assets | 466,247 | ||||
Noninterest-bearing | 158,389 | ||||
Interest-bearing | [8] | 245,246 | |||
Total deposits | 403,635 | ||||
Long term debt | 0 | ||||
Other liabilities | [9] | 5,623 | |||
Total liabilities | 409,258 | ||||
Net identifiable assets acquired over liabilities assumed | 56,989 | ||||
Goodwill | 14,381 | ||||
Net assets acquired over liabilities assumed | $ 71,370 | ||||
First Community Bankshares, Inc. common stock issued (in shares) | 2,996,786 | ||||
Purchase price per share of the Company's common stock (in dollars per share) | $ 23.81 | ||||
Fair value of Company common stock issued | $ 71,354 | ||||
Cash paid for fractional shares | 16 | ||||
Fair Value of total consideration transferred | 71,370 | ||||
Surrey [Member] | Recorded By Surrey [Member] | |||||
Cash and cash equivalents | 176,700 | ||||
Securities-available-for-sale | [2] | 22,027 | |||
Loans held for investment, net of allowance and mark | [3] | 251,944 | |||
Premises and equipment | [4] | 5,501 | |||
Other assets | [5],[6] | 10,787 | |||
Intangible assets | [7] | 0 | |||
Total assets | 466,959 | ||||
Noninterest-bearing | 158,389 | ||||
Interest-bearing | [8] | 246,460 | |||
Total deposits | 404,849 | ||||
Long term debt | 0 | ||||
Other liabilities | [9] | 6,004 | |||
Total liabilities | 410,853 | ||||
Net identifiable assets acquired over liabilities assumed | 56,106 | ||||
Goodwill | 0 | ||||
Net assets acquired over liabilities assumed | 56,106 | ||||
Surrey [Member] | Fair Value Adjustments [Member] | |||||
Cash and cash equivalents | 0 | ||||
Securities-available-for-sale | [2] | (1,093) | |||
Loans held for investment, net of allowance and mark | [3] | (12,864) | |||
Premises and equipment | [4] | 774 | |||
Other assets | [5],[6] | (229) | |||
Intangible assets | [7] | 12,700 | |||
Total assets | (712) | ||||
Noninterest-bearing | 0 | ||||
Interest-bearing | [8] | (1,214) | |||
Total deposits | (1,214) | ||||
Long term debt | 0 | ||||
Other liabilities | [9] | (381) | |||
Total liabilities | (1,595) | ||||
Net identifiable assets acquired over liabilities assumed | 883 | ||||
Goodwill | 14,381 | ||||
Net assets acquired over liabilities assumed | $ 15,264 | ||||
[1]Derived from audited financial statements[2]Adjustment reflects the fair value adjustment based on the Company's evaluation of the acquired investment portfolio.[3]Adjustment reflects the fair value adjustments of $(15.80) million based on the Company's evaluation of the acquired loan portfolio and excludes the allowance for credit losses and deferred loans fees of $2.94 million as recorded by Surrey.[4]Adjustment reflects the fair value adjustments based on the Company's evaluation of the acquired premises and equipment.[5]Adjustment reflects the fair value adjustment based on the Company's evaluation of stocks with other banks of $47 thousand.[6]Adjustment to record the deferred tax asset related to the fair value adjustments $(177) thousand.[7]Adjustment to record the core deposit intangible on the acquired deposit accounts.[8]Adjustment reflects the fair value adjustment based on the Company's evaluation of the time deposit portfolio.[9]Adjustment to reclass deferred tax asset $(99) thousand, goodwill $(282) thousand, federal income tax payable $(389) thousand, and state income tax payable $8 thousand. |
Note 3 - Debt Securities (Detai
Note 3 - Debt Securities (Details Textual) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Debt Securities, Available-for-Sale, Allowance for Credit Loss | $ 0 | ||
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss | $ 1,120 | $ 1,250 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 115 | 112 | |
Percentage of Combined Depreciation of Combined Reported Value of Aggregate Securities Portfolio | 9.20% | 5.02% | |
Proceeds from Sale of Debt Securities, Available-for-Sale | $ 0 | $ 17,007 | |
Debt Securities, Available-for-Sale, Amortized Cost | 181,529 | $ 295,045 | |
Asset Pledged as Collateral [Member] | |||
Debt Securities, Available-for-Sale, Amortized Cost | $ 44,550 | $ 145,090 |
Note 3 - Debt Securities - Secu
Note 3 - Debt Securities - Securities Available-for-sale (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Securities available for sale, amortized cost | $ 181,529 | $ 295,045 | |
Securities available for sale, unrealized gains | 6 | 29 | |
Securities available for sale, unrealized losses | (15,288) | (14,113) | |
Securities available for sale, fair value | 166,247 | 280,961 | [1] |
US Government Agencies Debt Securities [Member] | |||
Securities available for sale, amortized cost | 5,750 | 5,750 | |
Securities available for sale, unrealized gains | 0 | 0 | |
Securities available for sale, unrealized losses | 0 | (1) | |
Securities available for sale, fair value | 5,750 | 5,749 | |
US Treasury Securities [Member] | |||
Securities available for sale, amortized cost | 36,384 | 146,653 | |
Securities available for sale, unrealized gains | 2 | 16 | |
Securities available for sale, unrealized losses | (62) | (843) | |
Securities available for sale, fair value | 36,324 | 145,826 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available for sale, amortized cost | 18,325 | 19,528 | |
Securities available for sale, unrealized gains | 4 | 11 | |
Securities available for sale, unrealized losses | (217) | (162) | |
Securities available for sale, fair value | 18,112 | 19,377 | |
Corporate Debt Securities [Member] | |||
Securities available for sale, amortized cost | 28,574 | 28,566 | |
Securities available for sale, unrealized gains | 0 | 0 | |
Securities available for sale, unrealized losses | (1,658) | (1,485) | |
Securities available for sale, fair value | 26,916 | 27,081 | |
Mortgage-backed Agency Securities [Member] | |||
Securities available for sale, amortized cost | 92,496 | 94,548 | |
Securities available for sale, unrealized gains | 0 | 2 | |
Securities available for sale, unrealized losses | (13,351) | (11,622) | |
Securities available for sale, fair value | $ 79,145 | $ 82,928 | |
[1]Derived from audited financial statements |
Note 3 - Debt Securities - Se_2
Note 3 - Debt Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Securities available for sale, due within one year, amortized cost | $ 47,332 | ||
Securities available for sale, due within one year, fair value | 47,266 | ||
Securities available for sale, due after one year but within five years, amortized cost | 41,701 | ||
Securities available for sale, due after one year but within five years, fair value | 39,836 | ||
Securities available for sale, due after five years but within ten years, amortized cost | 0 | ||
Securities available for sale, due after five years but within ten years, fair value | 0 | ||
Securities available for sale, single maturity date, amortized cost | 89,033 | ||
Securities available for sale, single maturity date, fair value | 87,102 | ||
Total debt securities available-for-sale | 181,529 | $ 295,045 | |
Total debt securities available-for-sale | 166,247 | $ 280,961 | [1] |
Collateralized Mortgage-Backed Securities [Member] | |||
Agency mortgage-backed securities, amortized cost | 92,496 | ||
Agency mortgage-backed securities, fair value | $ 79,145 | ||
[1]Derived from audited financial statements |
Note 3 - Debt Securities - Avai
Note 3 - Debt Securities - Available For Sale Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available for sale, less than 12 months, fair value | $ 19,523 | $ 25,329 |
Securities available for sale, less than 12 months, unrealized losses | (85) | (45) |
Securities available for sale, 12 months or longer, fair value | 134,911 | 239,992 |
Securities available for sale, 12 months or longer, unrealized losses | (15,203) | (14,068) |
Securities available for sale, total fair value | 154,434 | 265,321 |
Securities available for sale, total unrealized losses | (15,288) | (14,113) |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 5,750 | 5,749 |
Securities available for sale, less than 12 months, unrealized losses | 0 | (1) |
Securities available for sale, 12 months or longer, fair value | 0 | 0 |
Securities available for sale, 12 months or longer, unrealized losses | 0 | 0 |
Securities available for sale, total fair value | 5,750 | 5,749 |
Securities available for sale, total unrealized losses | 0 | (1) |
US Treasury Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 5,283 | 11,417 |
Securities available for sale, less than 12 months, unrealized losses | (12) | (14) |
Securities available for sale, 12 months or longer, fair value | 25,684 | 129,108 |
Securities available for sale, 12 months or longer, unrealized losses | (50) | (829) |
Securities available for sale, total fair value | 30,967 | 140,525 |
Securities available for sale, total unrealized losses | (62) | (843) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 3,944 | 4,742 |
Securities available for sale, less than 12 months, unrealized losses | (21) | (20) |
Securities available for sale, 12 months or longer, fair value | 7,713 | 5,484 |
Securities available for sale, 12 months or longer, unrealized losses | (196) | (142) |
Securities available for sale, total fair value | 11,657 | 10,226 |
Securities available for sale, total unrealized losses | (217) | (162) |
Corporate Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 0 | 0 |
Securities available for sale, less than 12 months, unrealized losses | 0 | 0 |
Securities available for sale, 12 months or longer, fair value | 26,916 | 27,081 |
Securities available for sale, 12 months or longer, unrealized losses | (1,658) | (1,485) |
Securities available for sale, total fair value | 26,916 | 27,081 |
Securities available for sale, total unrealized losses | (1,658) | (1,485) |
Mortgage-backed Agency Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 4,546 | 3,421 |
Securities available for sale, less than 12 months, unrealized losses | (52) | (10) |
Securities available for sale, 12 months or longer, fair value | 74,598 | 78,319 |
Securities available for sale, 12 months or longer, unrealized losses | (13,299) | (11,612) |
Securities available for sale, total fair value | 79,144 | 81,740 |
Securities available for sale, total unrealized losses | $ (13,351) | $ (11,622) |
Note 3 - Debt Securities - Gros
Note 3 - Debt Securities - Gross Realized Gains and Losses from Sale of Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Gross realized gains | $ 0 | $ 7 |
Gross realized losses | 0 | 0 |
Net gain (loss) on sale of securities | $ 0 | $ 7 |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Bank Overdrafts | $ 1,390 | $ 1,500 |
Financing Receivable, Unamortized Loan Cost (Fee) | 7,270 | 7,710 |
Financing Receivable, Unamortized Purchase Premium (Discount) | (14,510) | (15,290) |
Financing Receivable, Accrued Interest, after Allowance for Credit Loss | $ 9,590 | $ 9,640 |
Note 4 - Loans - Loans by Class
Note 4 - Loans - Loans by Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Non-covered loans | $ 2,519,833 | $ 2,572,298 |
Non-covered loans, percent | 100% | 100% |
Commercial Portfolio Segment [Member] | ||
Non-covered loans | $ 1,626,818 | $ 1,661,493 |
Non-covered loans, percent | 64.56% | 64.59% |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered loans | $ 88,841 | $ 105,945 |
Non-covered loans, percent | 3.53% | 4.12% |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered loans | $ 203,530 | $ 211,850 |
Non-covered loans, percent | 8.08% | 8.24% |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered loans | $ 194,188 | $ 188,382 |
Non-covered loans, percent | 7.71% | 7.32% |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered loans | $ 219,669 | $ 224,895 |
Non-covered loans, percent | 8.72% | 8.74% |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered loans | $ 887,255 | $ 894,550 |
Non-covered loans, percent | 35.21% | 34.78% |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered loans | $ 19,763 | $ 21,669 |
Non-covered loans, percent | 0.78% | 0.84% |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered loans | $ 13,572 | $ 14,202 |
Non-covered loans, percent | 0.53% | 0.55% |
Consumer Real Estate Portfolio Segment [Member] | ||
Non-covered loans | $ 780,839 | $ 792,211 |
Non-covered loans, percent | 30.99% | 30.80% |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered loans | $ 87,181 | $ 87,626 |
Non-covered loans, percent | 3.46% | 3.41% |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered loans | $ 687,810 | $ 696,140 |
Non-covered loans, percent | 27.30% | 27.06% |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered loans | $ 5,848 | $ 8,445 |
Non-covered loans, percent | 0.23% | 0.33% |
Consumer and Other Portfolio Segment [Member] | ||
Non-covered loans | $ 112,176 | $ 118,594 |
Non-covered loans, percent | 4.45% | 4.61% |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered loans | $ 110,787 | $ 117,091 |
Non-covered loans, percent | 4.40% | 4.55% |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered loans | $ 1,389 | $ 1,503 |
Non-covered loans, percent | 0.05% | 0.06% |
Note 5 - Credit Quality (Detail
Note 5 - Credit Quality (Details Textual) Pure in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | |
Financing Receivable, Nonaccrual, Interest Income | $ 0 | $ 0 |
Financing Receivable, Modified, Number of Loans Uncollectible | 0 |
Note 5 - Credit Quality - Loans
Note 5 - Credit Quality - Loans by Credit Quality (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Non-covered loans | $ 2,519,833 | $ 2,572,298 | |
Originated in current year | 29,874 | 252,040 | |
Originated in one year prior | 245,161 | 644,141 | |
Originated in two years prior | 624,161 | 484,822 | |
Originated in three years prior | 473,904 | 364,604 | |
Originated in four years prior | 353,825 | 122,644 | |
Prior | 647,441 | 553,919 | |
Revolving | 145,467 | 150,128 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 282 | 1,304 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 533 | 3,829 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 979 | 2,100 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 379 | 578 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 69 | 255 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 69 | 347 | |
Financing Receivable, Revolving, Writeoff | 137 | 412 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 2,448 | $ 2,570 | 8,825 |
Total loans held for investment, net of unearned income | 2,519,833 | 2,572,298 | |
Pass [Member] | |||
Non-covered loans | 2,431,245 | 2,484,002 | |
Originated in current year | 29,874 | 248,253 | |
Originated in one year prior | 240,877 | 640,518 | |
Originated in two years prior | 619,970 | 477,118 | |
Originated in three years prior | 466,107 | 361,130 | |
Originated in four years prior | 350,592 | 114,859 | |
Prior | 580,262 | 494,223 | |
Revolving | 143,563 | 147,901 | |
Total loans held for investment, net of unearned income | 2,431,245 | 2,484,002 | |
Special Mention [Member] | |||
Non-covered loans | 32,116 | 32,102 | |
Originated in current year | 0 | 1,830 | |
Originated in one year prior | 2,035 | 1,088 | |
Originated in two years prior | 1,068 | 3,356 | |
Originated in three years prior | 3,425 | 1,064 | |
Originated in four years prior | 1,032 | 547 | |
Prior | 23,954 | 23,564 | |
Revolving | 602 | 653 | |
Total loans held for investment, net of unearned income | 32,116 | 32,102 | |
Substandard [Member] | |||
Non-covered loans | 56,472 | 56,194 | |
Originated in current year | 0 | 1,957 | |
Originated in one year prior | 2,249 | 2,535 | |
Originated in two years prior | 3,123 | 4,348 | |
Originated in three years prior | 4,372 | 2,410 | |
Originated in four years prior | 2,201 | 7,238 | |
Prior | 43,225 | 36,132 | |
Revolving | 1,302 | 1,574 | |
Total loans held for investment, net of unearned income | 56,472 | 56,194 | |
Doubtful [Member] | |||
Non-covered loans | 0 | 0 | |
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loans held for investment, net of unearned income | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Non-covered loans | 0 | 0 | |
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loans held for investment, net of unearned income | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Non-covered loans | 1,626,818 | 1,661,493 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 362 | 173 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 88,841 | 105,945 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 203,530 | 211,850 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 194,188 | 188,382 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 219,669 | 224,895 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 887,255 | 894,550 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | 19,763 | 21,669 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | 13,572 | 14,202 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 86,265 | 103,573 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 198,318 | 207,034 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 190,417 | 184,565 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 210,540 | 215,375 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 858,461 | 866,711 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Agricultural [Member] | |||
Non-covered loans | 13,982 | 15,944 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Farmland [Member] | |||
Non-covered loans | 12,015 | 12,480 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 2,164 | 1,955 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 2,128 | 2,097 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 3,485 | 3,522 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 1,983 | 2,016 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 15,272 | 15,240 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Agricultural [Member] | |||
Non-covered loans | 3,786 | 3,878 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Farmland [Member] | |||
Non-covered loans | 475 | 484 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 412 | 417 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 3,084 | 2,719 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 286 | 295 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 7,146 | 7,504 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 13,522 | 12,599 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Agricultural [Member] | |||
Non-covered loans | 1,995 | 1,847 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Farmland [Member] | |||
Non-covered loans | 1,082 | 1,238 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Agricultural [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Farmland [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Agricultural [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Farmland [Member] | |||
Non-covered loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 88,841 | 105,945 | |
Originated in current year | 918 | 14,116 | |
Originated in one year prior | 14,662 | 54,752 | |
Originated in two years prior | 35,682 | 23,328 | |
Originated in three years prior | 24,233 | 4,260 | |
Originated in four years prior | 4,149 | 2,875 | |
Prior | 6,543 | 4,195 | |
Revolving | 2,654 | 2,419 | |
Total loan | 88,841 | 105,945 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 13 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 13 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Pass [Member] | |||
Originated in current year | 918 | 12,379 | |
Originated in one year prior | 12,689 | 54,752 | |
Originated in two years prior | 35,682 | 23,328 | |
Originated in three years prior | 24,233 | 4,121 | |
Originated in four years prior | 4,020 | 2,700 | |
Prior | 6,069 | 3,874 | |
Revolving | 2,654 | 2,419 | |
Total loan | 86,265 | 103,573 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 1,737 | |
Originated in one year prior | 1,973 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 139 | |
Originated in four years prior | 117 | 0 | |
Prior | 74 | 79 | |
Revolving | 0 | 0 | |
Total loan | 2,164 | 1,955 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Substandard [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 12 | 175 | |
Prior | 400 | 242 | |
Revolving | 0 | 0 | |
Total loan | 412 | 417 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 203,530 | 211,850 | |
Originated in current year | 7,585 | 53,670 | |
Originated in one year prior | 47,519 | 65,353 | |
Originated in two years prior | 61,305 | 19,764 | |
Originated in three years prior | 17,475 | 11,624 | |
Originated in four years prior | 10,339 | 6,992 | |
Prior | 19,130 | 13,819 | |
Revolving | 40,177 | 40,628 | |
Total loan | 203,530 | 211,850 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 66 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 37 | 168 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 173 | 201 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 51 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 9 | 32 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 1 | 66 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 220 | 584 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | |||
Originated in current year | 7,585 | 53,619 | |
Originated in one year prior | 47,322 | 64,380 | |
Originated in two years prior | 60,226 | 19,477 | |
Originated in three years prior | 16,907 | 11,538 | |
Originated in four years prior | 10,311 | 5,717 | |
Prior | 15,891 | 11,775 | |
Revolving | 40,076 | 40,528 | |
Total loan | 198,318 | 207,034 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Originated in current year | 6,753 | ||
Originated in one year prior | 67,484 | ||
Originated in two years prior | 36,621 | ||
Originated in three years prior | 30,021 | ||
Originated in four years prior | 3,280 | ||
Prior | 36,982 | ||
Revolving | 3,424 | ||
Total loan | 184,565 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 229 | |
Originated in two years prior | 218 | 11 | |
Originated in three years prior | 118 | 0 | |
Originated in four years prior | 0 | 349 | |
Prior | 1,691 | 1,408 | |
Revolving | 101 | 100 | |
Total loan | 2,128 | 2,097 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 3,522 | ||
Revolving | 0 | ||
Total loan | 3,522 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | |||
Originated in current year | 0 | 51 | |
Originated in one year prior | 197 | 744 | |
Originated in two years prior | 861 | 276 | |
Originated in three years prior | 450 | 86 | |
Originated in four years prior | 28 | 926 | |
Prior | 1,548 | 636 | |
Revolving | 0 | 0 | |
Total loan | 3,084 | 2,719 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 295 | ||
Revolving | 0 | ||
Total loan | 295 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Doubtful [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 0 | ||
Revolving | 0 | ||
Total loan | 0 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Unlikely to be Collected Financing Receivable [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 0 | ||
Revolving | 0 | ||
Total loan | 0 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 194,188 | 188,382 | |
Originated in current year | 306 | 6,753 | |
Originated in one year prior | 6,791 | 67,484 | |
Originated in two years prior | 74,818 | 36,621 | |
Originated in three years prior | 36,344 | 30,021 | |
Originated in four years prior | 29,717 | 3,280 | |
Prior | 42,711 | 40,799 | |
Revolving | 3,501 | 3,424 | |
Total loan | 194,188 | 188,382 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Pass [Member] | |||
Originated in current year | 306 | 83,420 | |
Originated in one year prior | 6,791 | 234,607 | |
Originated in two years prior | 74,704 | 151,433 | |
Originated in three years prior | 36,344 | 114,974 | |
Originated in four years prior | 29,717 | 53,466 | |
Prior | 39,054 | 217,034 | |
Revolving | 3,501 | 11,777 | |
Total loan | 190,417 | 866,711 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 65 | |
Originated in one year prior | 0 | 583 | |
Originated in two years prior | 0 | 2,590 | |
Originated in three years prior | 0 | 819 | |
Originated in four years prior | 0 | 0 | |
Prior | 3,485 | 11,132 | |
Revolving | 0 | 51 | |
Total loan | 3,485 | 15,240 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Substandard [Member] | |||
Originated in current year | 0 | 1,175 | |
Originated in one year prior | 0 | 238 | |
Originated in two years prior | 114 | 1,968 | |
Originated in three years prior | 0 | 690 | |
Originated in four years prior | 0 | 3,175 | |
Prior | 172 | 5,143 | |
Revolving | 0 | 210 | |
Total loan | 286 | 12,599 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 887,255 | 894,550 | |
Originated in current year | 8,635 | 84,660 | |
Originated in one year prior | 84,054 | 235,428 | |
Originated in two years prior | 240,050 | 155,991 | |
Originated in three years prior | 153,983 | 116,483 | |
Originated in four years prior | 114,183 | 56,641 | |
Prior | 277,735 | 233,309 | |
Revolving | 8,615 | 12,038 | |
Total loan | 887,255 | 894,550 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 8 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 2 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 10 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Pass [Member] | |||
Originated in current year | 8,635 | 5,004 | |
Originated in one year prior | 82,850 | 4,215 | |
Originated in two years prior | 239,174 | 2,352 | |
Originated in three years prior | 149,473 | 625 | |
Originated in four years prior | 112,692 | 674 | |
Prior | 257,164 | 2,094 | |
Revolving | 8,473 | 980 | |
Total loan | 858,461 | 15,944 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 28 | |
Originated in one year prior | 62 | 276 | |
Originated in two years prior | 579 | 184 | |
Originated in three years prior | 2,566 | 8 | |
Originated in four years prior | 811 | 90 | |
Prior | 11,254 | 3,292 | |
Revolving | 0 | 0 | |
Total loan | 15,272 | 3,878 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Substandard [Member] | |||
Originated in current year | 0 | 157 | |
Originated in one year prior | 1,142 | 166 | |
Originated in two years prior | 297 | 50 | |
Originated in three years prior | 1,944 | 28 | |
Originated in four years prior | 680 | 1,188 | |
Prior | 9,317 | 258 | |
Revolving | 142 | 0 | |
Total loan | 13,522 | 1,847 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | 19,763 | 21,669 | |
Originated in current year | 108 | 5,189 | |
Originated in one year prior | 4,777 | 4,657 | |
Originated in two years prior | 4,144 | 2,586 | |
Originated in three years prior | 2,387 | 661 | |
Originated in four years prior | 587 | 1,952 | |
Prior | 7,047 | 5,644 | |
Revolving | 713 | 980 | |
Total loan | 19,763 | 21,669 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 82 | 59 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 60 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 9 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 14 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 8 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 142 | 90 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Pass [Member] | |||
Originated in current year | 108 | 1,380 | |
Originated in one year prior | 4,380 | 1,237 | |
Originated in two years prior | 3,850 | 1,557 | |
Originated in three years prior | 2,108 | 912 | |
Originated in four years prior | 463 | 745 | |
Prior | 2,360 | 5,766 | |
Revolving | 713 | 883 | |
Total loan | 13,982 | 12,480 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 271 | 103 | |
Originated in three years prior | 178 | 0 | |
Originated in four years prior | 7 | 0 | |
Prior | 3,330 | 381 | |
Revolving | 0 | 0 | |
Total loan | 3,786 | 484 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Substandard [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 397 | 0 | |
Originated in two years prior | 23 | 0 | |
Originated in three years prior | 101 | 0 | |
Originated in four years prior | 117 | 0 | |
Prior | 1,357 | 1,238 | |
Revolving | 0 | 0 | |
Total loan | 1,995 | 1,238 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | 0 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | 13,572 | 14,202 | |
Originated in current year | 389 | 1,380 | |
Originated in one year prior | 1,370 | 1,237 | |
Originated in two years prior | 1,213 | 1,660 | |
Originated in three years prior | 1,619 | 912 | |
Originated in four years prior | 889 | 745 | |
Prior | 7,138 | 7,385 | |
Revolving | 954 | 883 | |
Total loan | 13,572 | 14,202 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | |||
Originated in current year | 389 | ||
Originated in one year prior | 1,370 | ||
Originated in two years prior | 1,213 | ||
Originated in three years prior | 1,517 | ||
Originated in four years prior | 889 | ||
Prior | 5,683 | ||
Revolving | 954 | ||
Total loan | 12,015 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 102 | ||
Originated in four years prior | 0 | ||
Prior | 373 | ||
Revolving | 0 | ||
Total loan | 475 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 1,082 | ||
Revolving | 0 | ||
Total loan | 1,082 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | Doubtful [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 0 | ||
Revolving | 0 | ||
Total loan | 0 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | ||
Originated in one year prior | 0 | ||
Originated in two years prior | 0 | ||
Originated in three years prior | 0 | ||
Originated in four years prior | 0 | ||
Prior | 0 | ||
Revolving | 0 | ||
Total loan | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | |||
Non-covered loans | 780,839 | 792,211 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 66 | 98 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 87,181 | 87,626 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 687,810 | 696,140 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 5,848 | 8,445 | |
Consumer Real Estate Portfolio Segment [Member] | Pass [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 83,592 | 83,769 | |
Consumer Real Estate Portfolio Segment [Member] | Pass [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 661,705 | 669,878 | |
Consumer Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 5,848 | 8,445 | |
Consumer Real Estate Portfolio Segment [Member] | Special Mention [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 544 | 546 | |
Consumer Real Estate Portfolio Segment [Member] | Special Mention [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 2,277 | 2,360 | |
Consumer Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Substandard [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 3,045 | 3,311 | |
Consumer Real Estate Portfolio Segment [Member] | Substandard [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 23,828 | 23,902 | |
Consumer Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Doubtful [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Doubtful [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Doubtful [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 87,181 | 87,626 | |
Originated in current year | 4 | 9 | |
Originated in one year prior | 1 | 974 | |
Originated in two years prior | 1,016 | 86 | |
Originated in three years prior | 84 | 100 | |
Originated in four years prior | 97 | 170 | |
Prior | 5,545 | 5,698 | |
Revolving | 80,434 | 80,589 | |
Total loan | 87,626 | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 15 | 227 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 15 | 227 | |
Total loans held for investment, net of unearned income | 87,181 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Pass [Member] | |||
Originated in current year | 4 | 9 | |
Originated in one year prior | 1 | 962 | |
Originated in two years prior | 947 | 86 | |
Originated in three years prior | 84 | 73 | |
Originated in four years prior | 72 | 68 | |
Prior | 3,659 | 3,800 | |
Revolving | 78,825 | 78,771 | |
Total loan | 83,769 | ||
Total loans held for investment, net of unearned income | 83,592 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 44 | 45 | |
Revolving | 500 | 501 | |
Total loan | 546 | ||
Total loans held for investment, net of unearned income | 544 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Substandard [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 12 | |
Originated in two years prior | 69 | 0 | |
Originated in three years prior | 0 | 27 | |
Originated in four years prior | 25 | 102 | |
Prior | 1,842 | 1,853 | |
Revolving | 1,109 | 1,317 | |
Total loan | 3,311 | ||
Total loans held for investment, net of unearned income | 3,045 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 687,810 | 696,140 | |
Originated in current year | 4,576 | 51,062 | |
Originated in one year prior | 52,150 | 165,529 | |
Originated in two years prior | 165,702 | 223,281 | |
Originated in three years prior | 219,465 | 192,635 | |
Originated in four years prior | 187,445 | 46,597 | |
Prior | 277,745 | 241,500 | |
Revolving | 396 | 431 | |
Total loan | 921,035 | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 47 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 31 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 20 | 194 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 51 | 241 | |
Total loans held for investment, net of unearned income | 907,479 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Pass [Member] | |||
Originated in current year | 4,576 | 50,826 | |
Originated in one year prior | 51,915 | 164,974 | |
Originated in two years prior | 164,857 | 221,352 | |
Originated in three years prior | 217,495 | 191,156 | |
Originated in four years prior | 186,126 | 44,974 | |
Prior | 246,880 | 211,540 | |
Revolving | 396 | 431 | |
Total loan | 885,253 | ||
Total loans held for investment, net of unearned income | 872,245 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 465 | |
Originated in three years prior | 460 | 98 | |
Originated in four years prior | 97 | 108 | |
Prior | 3,703 | 3,705 | |
Revolving | 0 | 0 | |
Total loan | 4,376 | ||
Total loans held for investment, net of unearned income | 4,260 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Substandard [Member] | |||
Originated in current year | 0 | 236 | |
Originated in one year prior | 235 | 555 | |
Originated in two years prior | 845 | 1,464 | |
Originated in three years prior | 1,510 | 1,381 | |
Originated in four years prior | 1,222 | 1,515 | |
Prior | 27,162 | 26,255 | |
Revolving | 0 | 0 | |
Total loan | 31,406 | ||
Total loans held for investment, net of unearned income | 30,974 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 5,848 | 8,445 | |
Originated in current year | 287 | 3,620 | |
Originated in one year prior | 3,416 | 4,232 | |
Originated in two years prior | 1,575 | 240 | |
Originated in three years prior | 235 | 0 | |
Originated in four years prior | 0 | 21 | |
Prior | 335 | 332 | |
Revolving | 0 | 0 | |
Total loan | 8,445 | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | 0 | |
Financing Receivable, Revolving, Writeoff | 0 | 0 | |
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | |
Total loans held for investment, net of unearned income | 5,848 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Pass [Member] | |||
Originated in current year | 287 | 3,620 | |
Originated in one year prior | 3,416 | 4,232 | |
Originated in two years prior | 1,575 | 240 | |
Originated in three years prior | 235 | 0 | |
Originated in four years prior | 0 | 21 | |
Prior | 335 | 332 | |
Revolving | 0 | 0 | |
Total loan | 8,445 | ||
Total loans held for investment, net of unearned income | 5,848 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Substandard [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer Real Estate Portfolio Segment [Member] | Consumer Loans [Member] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 1,238 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 3,594 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 1,852 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 518 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 196 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 77 | ||
Financing Receivable, Revolving, Writeoff | 185 | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 7,660 | ||
Consumer and Other Portfolio Segment [Member] | |||
Non-covered loans | 112,176 | 118,594 | |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 282 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 414 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 746 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 348 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 60 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 48 | ||
Financing Receivable, Revolving, Writeoff | 122 | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 2,020 | $ 2,299 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | |||
Non-covered loans | 110,787 | 117,091 | |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | 1,389 | 1,503 | |
Consumer and Other Portfolio Segment [Member] | Pass [Member] | Consumer Loans [Member] | |||
Non-covered loans | 108,713 | 114,725 | |
Consumer and Other Portfolio Segment [Member] | Pass [Member] | Other Loan [Member] | |||
Non-covered loans | 1,389 | 1,503 | |
Consumer and Other Portfolio Segment [Member] | Special Mention [Member] | Consumer Loans [Member] | |||
Non-covered loans | 2 | 4 | |
Consumer and Other Portfolio Segment [Member] | Special Mention [Member] | Other Loan [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer and Other Portfolio Segment [Member] | Substandard [Member] | Consumer Loans [Member] | |||
Non-covered loans | 2,072 | 2,362 | |
Consumer and Other Portfolio Segment [Member] | Substandard [Member] | Other Loan [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer and Other Portfolio Segment [Member] | Doubtful [Member] | Consumer Loans [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer and Other Portfolio Segment [Member] | Doubtful [Member] | Other Loan [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer and Other Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Consumer Loans [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer and Other Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Other Loan [Member] | |||
Non-covered loans | 0 | 0 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | |||
Non-covered loans | 110,787 | 117,091 | |
Originated in current year | 7,066 | 31,581 | |
Originated in one year prior | 30,421 | 44,495 | |
Originated in two years prior | 38,656 | 21,265 | |
Originated in three years prior | 18,079 | 7,908 | |
Originated in four years prior | 6,419 | 3,371 | |
Prior | 3,512 | 1,238 | |
Revolving | 8,023 | 8,736 | |
Total loan | 118,594 | ||
Total loans held for investment, net of unearned income | 112,176 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Pass [Member] | |||
Originated in current year | 7,066 | 31,243 | |
Originated in one year prior | 30,143 | 43,675 | |
Originated in two years prior | 37,742 | 20,672 | |
Originated in three years prior | 17,711 | 7,710 | |
Originated in four years prior | 6,302 | 3,214 | |
Prior | 3,167 | 1,026 | |
Revolving | 7,971 | 8,688 | |
Total loan | 116,228 | ||
Total loans held for investment, net of unearned income | 110,102 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Special Mention [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 3 | |
Originated in three years prior | 1 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 1 | 1 | |
Total loan | 4 | ||
Total loans held for investment, net of unearned income | 2 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Substandard [Member] | |||
Originated in current year | 0 | 338 | |
Originated in one year prior | 278 | 820 | |
Originated in two years prior | 914 | 590 | |
Originated in three years prior | 367 | 198 | |
Originated in four years prior | 117 | 157 | |
Prior | 345 | 212 | |
Revolving | 51 | 47 | |
Total loan | 2,362 | ||
Total loans held for investment, net of unearned income | 2,072 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Doubtful [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | 0 | ||
Total loans held for investment, net of unearned income | 0 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Originated in current year | 0 | 0 | |
Originated in one year prior | 0 | 0 | |
Originated in two years prior | 0 | 0 | |
Originated in three years prior | 0 | 0 | |
Originated in four years prior | 0 | 0 | |
Prior | 0 | 0 | |
Revolving | 0 | 0 | |
Total loan | $ 0 | ||
Total loans held for investment, net of unearned income | $ 0 |
Note 5 - Credit Quality - Nonac
Note 5 - Credit Quality - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Total nonaccrual loans | $ 19,617 | $ 19,356 |
Loans With No Allowance [Member] | ||
Total nonaccrual loans | 18,477 | 18,183 |
Loans With an Allowance [Member] | ||
Total nonaccrual loans | 1,140 | 1,173 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Total nonaccrual loans | 166 | 172 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 166 | 172 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Total nonaccrual loans | 1,333 | 1,438 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 1,333 | 1,438 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Total nonaccrual loans | 174 | 183 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 174 | 183 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Total nonaccrual loans | 978 | 832 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 978 | 832 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Total nonaccrual loans | 3,071 | 2,444 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 1,931 | 1,271 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 1,140 | 1,173 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Total nonaccrual loans | 1,499 | 1,558 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 1,499 | 1,558 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Total nonaccrual loans | 125 | 123 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 125 | 123 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Total nonaccrual loans | 1,229 | 1,335 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 1,229 | 1,335 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Total nonaccrual loans | 9,392 | 9,365 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 9,392 | 9,365 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Total nonaccrual loans | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Total nonaccrual loans | 1,650 | 1,906 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Loans With No Allowance [Member] | ||
Total nonaccrual loans | 1,650 | 1,906 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Loans With an Allowance [Member] | ||
Total nonaccrual loans | $ 0 | $ 0 |
Note 5 - Credit Quality - Aging
Note 5 - Credit Quality - Aging of Past Due Loans by Loan Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Non-covered | $ 2,519,833 | $ 2,572,298 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | |
Amortized Cost of > 90 Days Accruing No Allowance, Total | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Non-covered | 12,930 | 13,953 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Non-covered | 3,642 | 6,194 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Non-covered | 6,774 | 6,384 |
Financial Asset, Past Due [Member] | ||
Non-covered | 23,346 | 26,531 |
Financial Asset, Not Past Due [Member] | ||
Non-covered | 2,496,487 | 2,545,767 |
Commercial Portfolio Segment [Member] | ||
Non-covered | 1,626,818 | 1,661,493 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Non-covered | 88,841 | 105,945 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 23 | 38 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 6 | 6 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 23 | 23 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 52 | 67 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 88,789 | 105,878 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Non-covered | 203,530 | 211,850 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 1,000 | 1,232 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 435 | 766 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 439 | 390 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 1,874 | 2,388 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 201,656 | 209,462 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Non-covered | 194,188 | 188,382 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 112 | 115 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 68 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 114 | 0 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 226 | 183 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 193,962 | 188,199 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Non-covered | 219,669 | 224,895 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 688 | 777 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 455 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 219 | 232 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 907 | 1,464 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 218,762 | 223,431 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Non-covered | 887,255 | 894,550 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 1,896 | 617 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 229 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 955 | 382 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 2,851 | 1,228 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 884,404 | 893,322 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Non-covered | 19,763 | 21,669 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 417 | 22 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 272 | 56 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 246 | 217 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 935 | 295 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 18,828 | 21,374 |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Non-covered | 13,572 | 14,202 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 123 | 15 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 2 | 0 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 125 | 15 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 13,447 | 14,187 |
Consumer Real Estate Portfolio Segment [Member] | ||
Non-covered | 780,839 | 792,211 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Non-covered | 87,181 | 87,626 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 551 | 639 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 159 | 343 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 430 | 534 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 1,140 | 1,516 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 86,041 | 86,110 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Non-covered | 687,810 | 696,140 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 5,204 | 6,108 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 1,841 | 2,831 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 3,780 | 3,519 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 10,825 | 12,458 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 676,985 | 683,682 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Non-covered | 5,848 | 8,445 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 5,848 | 8,445 |
Consumer and Other Portfolio Segment [Member] | ||
Non-covered | 112,176 | 118,594 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-covered | 110,787 | 117,091 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 2,916 | 4,390 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 927 | 1,440 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 568 | 1,087 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 4,411 | 6,917 |
Consumer and Other Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 106,376 | 110,174 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Non-covered | 1,389 | 1,503 |
Amortized Cost of > 90 Days Accruing No Allowance, Non-covered | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | 0 | 0 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financial Asset, Not Past Due [Member] | Non-covered Loans [Member] | ||
Non-covered | $ 1,389 | $ 1,503 |
Note 5 - Credit Quality - Colla
Note 5 - Credit Quality - Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Collateral dependent loans | $ 1,140 | $ 1,173 |
Collateral coverage | $ 825 | $ 825 |
Collateral coverage percentage | 72.37% | 70.33% |
Commercial Real Estate, Other [Member] | ||
Collateral dependent loans | $ 1,140 | $ 1,173 |
Collateral coverage | $ 825 | $ 825 |
Collateral coverage percentage | 72.37% | 70.33% |
Note 5 - Credit Quality - Loa_2
Note 5 - Credit Quality - Loans Modified as Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Financial Asset, Not Past Due [Member] | ||
Loans modified | $ 1,927 | $ 1,792 |
Financial Asset, 30 to 89 Days Past Due [Member] | ||
Loans modified | 250 | 254 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Non-farm, Non-residential [Member] | Financial Asset, Not Past Due [Member] | ||
Loans modified | 662 | 662 |
Non-farm, Non-residential [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Non-farm, Non-residential [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Single Family Owner Occupied [Member] | Financial Asset, Not Past Due [Member] | ||
Loans modified | 1,012 | 864 |
Single Family Owner Occupied [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Loans modified | 250 | 254 |
Single Family Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Single Family Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member] | ||
Loans modified | 87 | 89 |
Single Family Non-owner Occupied [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Single Family Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Commercial and Industrial [Member] | Financial Asset, Not Past Due [Member] | ||
Loans modified | 161 | 171 |
Commercial and Industrial [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Consumer Loans [Member] | Financial Asset, Not Past Due [Member] | ||
Loans modified | 5 | 6 |
Consumer Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans modified | 0 | 0 |
Payment Deferral [Member] | ||
Amortized cost basis | 1,450 | 1,470 |
Payment Deferral [Member] | Non-farm, Non-residential [Member] | ||
Amortized cost basis | $ 662 | $ 662 |
Percentage of total financing receivable | 0.08% | 0.07% |
Payment Deferral [Member] | Single Family Owner Occupied [Member] | ||
Amortized cost basis | $ 540 | $ 548 |
Percentage of total financing receivable | 0.08% | 0.08% |
Payment Deferral [Member] | Single Family Non-owner Occupied [Member] | ||
Amortized cost basis | $ 87 | $ 89 |
Percentage of total financing receivable | 0.04% | 0.04% |
Payment Deferral [Member] | Commercial and Industrial [Member] | ||
Amortized cost basis | $ 161 | $ 171 |
Percentage of total financing receivable | 0.08% | 0.08% |
Extended Maturity [Member] | ||
Amortized cost basis | $ 5 | $ 6 |
Extended Maturity [Member] | Consumer Loans [Member] | ||
Amortized cost basis | $ 5 | $ 6 |
Percentage of total financing receivable | 0.01% | 0.01% |
Extended Maturity [Member] | Consumer Loans [Member] | Minimum [Member] | ||
Extended term (Month) | 60 months | |
Extended Maturity [Member] | Consumer Loans [Member] | Maximum [Member] | ||
Extended term (Month) | 84 months | |
Principal Forgiveness [Member] | ||
Amortized cost basis | $ 3 | $ 5 |
Principal Forgiveness [Member] | Single Family Owner Occupied [Member] | ||
Amortized cost basis | $ 3 | $ 5 |
Percentage of total financing receivable | 0% | 0% |
Term Extension and Rate Reduction [Member] | ||
Amortized cost basis | $ 719 | $ 565 |
Term Extension and Rate Reduction [Member] | Single Family Owner Occupied [Member] | ||
Amortized cost basis | $ 719 | $ 565 |
Percentage of total financing receivable | 0.11% | 0.08% |
Note 5 - Credit Quality - Other
Note 5 - Credit Quality - Other Real Estate Owned (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
OREO | $ 374 | $ 192 | |
OREO secured by residential real estate | 374 | 192 | |
Residential real estate loans in the foreclosure process(1) | [1] | $ 2,657 | $ 1,895 |
[1]The recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction |
Note 6 - Allowance for Credit_3
Note 6 - Allowance for Credit Losses - Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |||
Balance, Loans | $ 36,189 | [1] | $ 30,556 | $ 30,556 | |
Balance, Allowance for credit losses - loan commitments | 746 | 1,196 | 1,196 | ||
Total allowance for credit losses beginning of year | 36,935 | 31,752 | 31,752 | ||
Provision (recovery) for credit losses - loans | 1,011 | 1,974 | |||
Provision for credit losses - loan commitments | 0 | (232) | |||
Total (recovery) provision for credit losses - loans and loan commitments | 1,011 | 1,742 | |||
Charge-offs | (2,448) | (2,570) | (8,825) | ||
Recoveries | 709 | 829 | |||
Net (charge-offs) recoveries | (1,739) | (1,741) | |||
Balance, Allowance for credit losses - loans | 35,461 | 30,789 | 36,189 | [1] | |
Balance, Allowance for credit losses - loan commitments | 746 | 964 | 746 | ||
Ending balance | 36,207 | 31,753 | 36,935 | ||
(Recovery) provision for credit losses - loan commitments | 0 | (232) | |||
Commercial Portfolio Segment [Member] | |||||
Balance, Loans | 21,850 | 17,213 | 17,213 | ||
Balance, Allowance for credit losses - loan commitments | 597 | 1,018 | 1,018 | ||
Total allowance for credit losses beginning of year | 22,447 | 18,231 | 18,231 | ||
Provision (recovery) for credit losses - loans | (552) | 37 | |||
Provision for credit losses - loan commitments | 0 | (232) | |||
Total (recovery) provision for credit losses - loans and loan commitments | (552) | (195) | |||
Charge-offs | (362) | (173) | |||
Recoveries | 116 | 192 | |||
Net (charge-offs) recoveries | (246) | 19 | |||
Balance, Allowance for credit losses - loans | 21,052 | 17,269 | 21,850 | ||
Balance, Allowance for credit losses - loan commitments | 597 | 786 | 597 | ||
Ending balance | 21,649 | 18,055 | 22,447 | ||
(Recovery) provision for credit losses - loan commitments | 0 | (232) | |||
Consumer Real Estate Portfolio Segment [Member] | |||||
Balance, Loans | 9,693 | 8,931 | 8,931 | ||
Balance, Allowance for credit losses - loan commitments | 121 | 156 | 156 | ||
Total allowance for credit losses beginning of year | 9,814 | 9,087 | 9,087 | ||
Provision (recovery) for credit losses - loans | (135) | 103 | |||
Provision for credit losses - loan commitments | 0 | (6) | |||
Total (recovery) provision for credit losses - loans and loan commitments | (135) | 97 | |||
Charge-offs | (66) | (98) | |||
Recoveries | 209 | 59 | |||
Net (charge-offs) recoveries | 143 | (39) | |||
Balance, Allowance for credit losses - loans | 9,701 | 8,995 | 9,693 | ||
Balance, Allowance for credit losses - loan commitments | 121 | 150 | 121 | ||
Ending balance | 9,822 | 9,145 | 9,814 | ||
(Recovery) provision for credit losses - loan commitments | 0 | (6) | |||
Consumer and Other Portfolio Segment [Member] | |||||
Balance, Loans | 4,646 | 4,412 | 4,412 | ||
Balance, Allowance for credit losses - loan commitments | 28 | 22 | 22 | ||
Total allowance for credit losses beginning of year | 4,674 | 4,434 | 4,434 | ||
Provision (recovery) for credit losses - loans | 1,698 | 1,834 | |||
Provision for credit losses - loan commitments | 0 | 6 | |||
Total (recovery) provision for credit losses - loans and loan commitments | 1,698 | 1,840 | |||
Charge-offs | (2,020) | (2,299) | |||
Recoveries | 384 | 578 | |||
Net (charge-offs) recoveries | (1,636) | (1,721) | |||
Balance, Allowance for credit losses - loans | 4,708 | 4,525 | 4,646 | ||
Balance, Allowance for credit losses - loan commitments | 28 | 28 | 28 | ||
Ending balance | 4,736 | 4,553 | $ 4,674 | ||
(Recovery) provision for credit losses - loan commitments | $ 0 | $ 6 | |||
[1]Derived from audited financial statements |
Note 7 - Deposits - Components
Note 7 - Deposits - Components of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Noninterest-bearing demand deposits | $ 902,396 | $ 931,920 | [1] |
Interest-bearing demand deposits | 661,656 | 693,979 | |
Money market accounts | 329,310 | 307,487 | |
Savings deposits | 541,341 | 535,566 | |
Certificates of deposit | 163,827 | 166,417 | |
Individual retirement accounts | 83,685 | 86,956 | |
Total interest-bearing deposits | 1,779,819 | 1,790,405 | [1] |
Total deposits | $ 2,682,215 | $ 2,722,325 | [1] |
[1]Derived from audited financial statements |
Note 8 - Borrowings (Details Te
Note 8 - Borrowings (Details Textual) $ in Thousands | Mar. 31, 2024 USD ($) |
Long-Term Debt | $ 0 |
Debt Instrument, Unused Borrowing Capacity, Amount | 402,000 |
Deposit Liabilities, Collateral Issued, Financial Instruments | 123,340 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 525,340 |
Note 8 - Borrowings - Component
Note 8 - Borrowings - Components of Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Securities sold under agreements to repurchase | $ 1,006 | $ 1,119 | [1] |
Retail Repurchase Agreements [Member] | |||
Securities sold under agreements to repurchase | $ 1,006 | $ 1,119 | |
Retail repurchase agreements | 0.05% | 0.06% | |
[1]Derived from audited financial statements |
Note 9 - Derivative Instrumen_3
Note 9 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands | Jul. 26, 2022 USD ($) |
Interest Rate Swap [Member] | |
Derivative, Gain (Loss) on Derivative, Net, Total | $ (72) |
Note 9 - Derivative Instrumen_4
Note 9 - Derivative Instruments and Hedging Activities - Notional or Contractual Amounts and Fair Values of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Notional or contractual amount | $ 3,447 | $ 3,557 |
Derivative assets | 168 | 136 |
Derivative liabilities | 0 | 0 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Notional or contractual amount | 3,447 | 3,557 |
Derivative assets | 168 | 136 |
Derivative liabilities | $ 0 | $ 0 |
Note 9 - Derivative Instrumen_5
Note 9 - Derivative Instruments and Hedging Activities - Effect of Derivative and Hedging Activity, on Consolidated Statements of Income (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Jul. 26, 2022 | Mar. 31, 2024 | Mar. 31, 2023 | |
Derivative expense | $ (72) | ||
Interest and Fees on Loans [Member] | |||
Derivative expense | $ (27) | $ (20) | |
Designated as Hedging Instrument [Member] | Interest and Fees on Loans [Member] | |||
Derivative expense | $ (27) | $ (20) |
Note 10 - Employee Benefit Pl_3
Note 10 - Employee Benefit Plans - Components of Net Periodic Pension Cost and Assumed Discount Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Service cost | $ 0 | $ 0 |
Interest cost | 104 | 82 |
Amortization of prior service cost | 0 | 0 |
Amortization of losses | 9 | 33 |
Net periodic cost | $ 113 | $ 115 |
Note 11 - Earnings Per Share -
Note 11 - Earnings Per Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net income | $ 12,845 | $ 11,782 |
Adjust net income for fair value of restricted stock units (tax effected) | 240 | 25 |
Net income for fully dilutive earnings per common share | $ 13,085 | $ 11,807 |
Weighted average common shares outstanding, basic (in shares) | 18,476,128 | 16,228,297 |
Dilutive effect of potential common shares (in shares) | 48,651 | 44,787 |
Total dilutive effect of potential common shares (in shares) | 69,782 | 61,192 |
Weighted average common shares outstanding, diluted (in shares) | 18,545,910 | 16,289,489 |
Basic earnings per common share (in dollars per share) | $ 0.7 | $ 0.73 |
Diluted earnings per common share (in dollars per share) | $ 0.71 | $ 0.72 |
Antidilutive potential common shares (in shares) | 0 | 131,198 |
Share-Based Payment Arrangement, Option [Member] | ||
Dilutive effect of potential common shares (in shares) | 21,132 | 16,405 |
Antidilutive potential common shares (in shares) | 0 | 131,198 |
Unvested Stock Awards [Member] | ||
Dilutive effect of potential common shares (in shares) | 0 | 0 |
Restricted Stock and Units [Member] | ||
Antidilutive potential common shares (in shares) | 0 | 0 |
Note 12 - Accumulated Other C_3
Note 12 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Balance | $ 503,294 | [1] | $ 421,985 |
Other comprehensive loss, net | (948) | 2,494 | |
Balance | 506,944 | 431,731 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | |||
Balance | (11,126) | (15,621) | |
Other comprehensive loss before reclassifications | (948) | 2,499 | |
Reclassified from AOCI | 0 | (5) | |
Other comprehensive loss, net | (948) | 2,494 | |
Balance | (12,074) | (13,127) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance | 175 | (98) | |
Other comprehensive loss before reclassifications | (7) | (26) | |
Reclassified from AOCI | 7 | 26 | |
Other comprehensive loss, net | 0 | 0 | |
Balance | 175 | (98) | |
AOCI Attributable to Parent [Member] | |||
Balance | (10,951) | (15,719) | |
Other comprehensive loss before reclassifications | (955) | 2,473 | |
Reclassified from AOCI | 7 | 21 | |
Other comprehensive loss, net | (948) | 2,494 | |
Balance | $ (11,899) | $ (13,225) | |
[1]Derived from audited financial statements |
Note 12 - Accumulated Other C_4
Note 12 - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Gain recognized | [1] | $ 0 | $ (7) |
Income before income taxes | 16,491 | 15,440 | |
Income tax expense | 3,646 | 3,658 | |
Net income | 12,845 | 11,782 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Income tax expense | 0 | (2) | |
Net income | 7 | 21 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | |||
Income before income taxes | 0 | (7) | |
Income tax expense | 2 | 7 | |
Net income | 0 | (5) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | |||
Other operating expense | 0 | 0 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||
Other operating expense | 9 | 33 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Income before income taxes | 9 | 33 | |
Net income | $ 7 | $ 26 | |
[1]Amortization is included in net periodic pension cost. See Note 10, "Employee Benefit Plans." |
Note 13 - Fair Value - Assets a
Note 13 - Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Available-for-sale debt securities | $ 166,247 | $ 280,961 | [1] |
Derivative assets | 168 | 136 | |
Fair Value, Recurring [Member] | |||
Available-for-sale debt securities | 166,247 | 280,961 | |
Equity securities | 55 | 55 | |
Fair value loans | 3,279 | 3,421 | |
Derivative assets | 168 | 136 | |
Deferred compensation assets | 7,464 | 6,729 | |
Deferred compensation liabilities | 9,042 | 8,282 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Equity securities | 0 | 0 | |
Fair value loans | 0 | 0 | |
Derivative assets | 0 | 0 | |
Deferred compensation assets | 7,464 | 6,729 | |
Deferred compensation liabilities | 9,042 | 8,282 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale debt securities | 166,247 | 280,961 | |
Equity securities | 55 | 55 | |
Fair value loans | 0 | 0 | |
Derivative assets | 168 | 136 | |
Deferred compensation assets | 0 | 0 | |
Deferred compensation liabilities | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Equity securities | 0 | 0 | |
Fair value loans | 3,279 | 3,421 | |
Derivative assets | 0 | 0 | |
Deferred compensation assets | 0 | 0 | |
Deferred compensation liabilities | 0 | 0 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Available-for-sale debt securities | 5,750 | 5,749 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale debt securities | 5,750 | 5,749 | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||
Available-for-sale debt securities | 36,324 | 145,826 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale debt securities | 36,324 | 145,826 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available-for-sale debt securities | 18,112 | 19,377 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale debt securities | 18,112 | 19,377 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available-for-sale debt securities | 26,916 | 27,081 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale debt securities | 0 | ||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale debt securities | 26,916 | 27,081 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale debt securities | 0 | ||
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | |||
Available-for-sale debt securities | 79,145 | 82,928 | |
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale debt securities | 0 | 0 | |
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale debt securities | 79,145 | 82,928 | |
Fair Value, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale debt securities | $ 0 | $ 0 | |
[1]Derived from audited financial statements |
Note 13 - Fair Value - Assets M
Note 13 - Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - Non-covered Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Collateral Dependent Assets With Specific Reserves [Member] | ||
Total Fair Value | $ 825 | $ 825 |
Collateral Dependent Assets With Specific Reserves [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | 0 | 0 |
Collateral Dependent Assets With Specific Reserves [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | 0 | 0 |
Collateral Dependent Assets With Specific Reserves [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | 825 | 825 |
OREO [Member] | ||
Total Fair Value | 374 | 192 |
OREO [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | 0 | 0 |
OREO [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | 0 | 0 |
OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | $ 374 | $ 192 |
Note 13 - Fair Value - Quantita
Note 13 - Fair Value - Quantitative Information for Assets Measured at Fair Value on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - Measurement Input, Discount Rate [Member] - Valuation, Market Approach [Member] | Mar. 31, 2024 | Dec. 31, 2023 | |
Minimum [Member] | |||
Collateral dependent assets with specific reserves | [1] | 0 | |
Weighted Average [Member] | |||
Collateral dependent assets with specific reserves | [1],[2] | 0.38 | 0.42 |
OREO | [1],[2] | 0.50 | 0.60 |
[1]Fair value is generally based on appraisals of the underlying collateral.[2]Appraisals may be adjusted by management for customized discounting criteria, estimated sales costs, and proprietary qualitative adjustments. |
Note 13 - Fair Value - Financia
Note 13 - Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Debt securities available-for-sale, at fair value | $ 166,247 | $ 280,961 | [1] |
Derivative assets | 168 | 136 | |
Interest receivable | 10,719 | 10,881 | [1] |
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 248,905 | 116,420 | |
Debt securities available-for-sale, at fair value | 166,247 | 280,961 | |
Equity securities | 55 | 55 | |
Loans held for investment, net of allowance | 2,484,372 | 2,536,109 | |
Derivative assets | 168 | 136 | |
Interest receivable | 10,719 | 10,881 | |
Deferred compensation assets | 7,464 | 6,729 | |
Deposits fair value | 247,512 | 253,373 | |
Securities sold under agreements to repurchase | 1,006 | 1,119 | |
Interest payable | 674 | 556 | |
Deferred compensation liabilities | 9,042 | 8,282 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 248,905 | 116,420 | |
Debt securities available-for-sale, at fair value | 166,247 | 280,961 | |
Equity securities | 55 | 55 | |
Loans held for investment, net of allowance | 2,247,195 | 2,350,071 | |
Derivative assets | 168 | 136 | |
Interest receivable | 10,719 | 10,881 | |
Deferred compensation assets | 7,464 | 6,729 | |
Deposits fair value | 243,842 | 247,141 | |
Securities sold under agreements to repurchase | 1,006 | 1,119 | |
Interest payable | 674 | 556 | |
Deferred compensation liabilities | 9,042 | 8,282 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 248,905 | 116,420 | |
Debt securities available-for-sale, at fair value | 0 | 0 | |
Equity securities | 0 | 0 | |
Loans held for investment, net of allowance | 0 | 0 | |
Derivative assets | 0 | 0 | |
Interest receivable | 0 | 0 | |
Deferred compensation assets | 7,464 | 6,729 | |
Deposits fair value | 0 | 0 | |
Securities sold under agreements to repurchase | 0 | 0 | |
Interest payable | 0 | 0 | |
Deferred compensation liabilities | 9,042 | 8,282 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Debt securities available-for-sale, at fair value | 166,247 | 280,961 | |
Equity securities | 55 | 55 | |
Loans held for investment, net of allowance | 0 | 0 | |
Derivative assets | 168 | 136 | |
Interest receivable | 1,125 | 1,246 | |
Deferred compensation assets | 0 | 0 | |
Deposits fair value | 243,842 | 247,141 | |
Securities sold under agreements to repurchase | 1,006 | 1,119 | |
Interest payable | 674 | 556 | |
Deferred compensation liabilities | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Debt securities available-for-sale, at fair value | 0 | 0 | |
Equity securities | 0 | 0 | |
Loans held for investment, net of allowance | 2,247,195 | 2,350,071 | |
Derivative assets | 0 | 0 | |
Interest receivable | 9,594 | 9,635 | |
Deferred compensation assets | 0 | 0 | |
Deposits fair value | 0 | 0 | |
Securities sold under agreements to repurchase | 0 | 0 | |
Interest payable | 0 | 0 | |
Deferred compensation liabilities | $ 0 | $ 0 | |
[1]Derived from audited financial statements |
Note 14 - Litigation, Commitm_3
Note 14 - Litigation, Commitments, and Contingencies - Off-balance Sheet Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |
Commitments to extend credit | $ 264,511 | $ 277,462 | |
Standby letters of credit and financial guarantees(1) | [1] | 126,513 | 129,220 |
Total off-balance sheet risk | $ 391,024 | $ 406,682 | |
[1]Includes FHLB letters of credit |