Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 12, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000919864 | ||
Entity Registrant Name | NORTHWEST INDIANA BANCORP | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 0-26128 | ||
Entity Incorporation, State or Country Code | IN | ||
Entity Tax Identification Number | 35-1927981 | ||
Entity Address, Address Line One | 9204 Columbia Avenue | ||
Entity Address, Postal Zip Code | 46321 | ||
Entity Address, City or Town | Munster | ||
Entity Address, State or Province | IN | ||
City Area Code | 219 | ||
Local Phone Number | 836-4400 | ||
Title of 12(g) Security | Common Stock, without par value | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 91,966,808 | ||
Entity Common Stock, Shares Outstanding | 3,478,921 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 14,014 | $ 20,964 |
Interest bearing deposits in other financial institutions | 5,908 | 10,750 |
Federal funds sold | 0 | 15,544 |
Total cash and cash equivalents | 19,922 | 47,258 |
Certificates of deposit in other financial institutions | 1,897 | 2,170 |
Securities available-for-sale | 410,669 | 277,219 |
Loans held-for-sale | 11,329 | 6,091 |
Loans receivable | 966,578 | 906,869 |
Less: allowance for loan losses | (12,458) | (8,999) |
Net loans receivable | 954,120 | 897,870 |
Federal Home Loan Bank stock | 3,918 | 3,912 |
Accrued interest receivable | 4,713 | 4,029 |
Premises and equipment | 30,785 | 29,407 |
Foreclosed real estate | 538 | 1,083 |
Cash value of bank owned life insurance | 30,725 | 30,017 |
Goodwill | 11,109 | 11,109 |
Other assets | 17,800 | 18,557 |
Total assets | 1,497,525 | 1,328,722 |
Deposits: | ||
Non-interest bearing | 241,620 | 172,094 |
Interest bearing | 1,060,719 | 982,276 |
Total | 1,302,339 | 1,154,370 |
Repurchase agreements | 13,711 | 11,499 |
Borrowed funds | 6,149 | 14,000 |
Accrued expenses and other liabilities | 22,404 | 14,750 |
Total liabilities | 1,344,603 | 1,194,619 |
Stockholders' Equity: | ||
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued and outstanding: December 31, 2020 - 3,462,916 December 31, 2019 - 3,451,797 | 0 | 0 |
Additional paid-in capital | 29,987 | 29,657 |
Accumulated other comprehensive income | 10,441 | 4,261 |
Retained earnings | 112,494 | 100,185 |
Total stockholders' equity | 152,922 | 134,103 |
Total liabilities and stockholders' equity | $ 1,497,525 | $ 1,328,722 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authoirzed (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, no par or stated value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, issued (in shares) | 3,462,916 | 3,451,797 |
Common stock, outstanding (in shares) | 3,462,916 | 3,451,797 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Interest income: | ||
Real estate loans | $ 35,875 | $ 37,574 |
Commercial loans | 8,162 | 6,451 |
Consumer loans | 830 | 430 |
Total loan interest | 44,867 | 44,455 |
Securities | 6,512 | 6,948 |
Other interest earning assets | 242 | 847 |
Total interest income | 51,621 | 52,250 |
Interest expense: | ||
Deposits | 5,321 | 8,359 |
Repurchase agreements | 87 | 233 |
Borrowed funds | 332 | 500 |
Total interest expense | 5,740 | 9,092 |
Net interest income | 45,881 | 43,158 |
Provision for loan losses | 3,687 | 2,584 |
Net interest income after provision for loan losses | 42,194 | 40,574 |
Noninterest income: | ||
Gain on sale of loans held-for-sale, net | 7,588 | 2,071 |
Fees and service charges | 5,161 | 4,737 |
Gain on sale of securities, net | 2,348 | 621 |
Wealth management operations | 2,138 | 1,915 |
Increase in cash value of bank owned life insurance | 708 | 688 |
Gain on sale of foreclosed real estate | 78 | 78 |
Benefit from bank owned life insurance | 0 | 205 |
Other | 127 | 355 |
Total noninterest income | 18,148 | 10,670 |
Noninterest expense: | ||
Compensation and benefits | 22,065 | 19,617 |
Occupancy and equipment | 4,933 | 4,548 |
Data processing | 2,267 | 2,967 |
Federal deposit insurance premiums | 788 | 300 |
Marketing | 732 | 926 |
Professional services | 640 | 803 |
Other | 9,421 | 8,227 |
Total noninterest expense | 40,846 | 37,388 |
Income before income tax expenses | 19,496 | 13,856 |
Income tax expenses | 2,892 | 1,759 |
Net income | $ 16,604 | $ 12,097 |
Earnings per common share: | ||
Basic (in dollars per share) | $ 4.80 | $ 3.53 |
Diluted (in dollars per share) | 4.80 | 3.53 |
Dividends declared per common share (in dollars per share) | $ 1.24 | $ 1.23 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 16,604 | $ 12,097 |
Net change in net unrealized gains and losses on securities available-for-sale: | ||
Unrealized gain arising during the period | 10,169 | 9,547 |
Less: reclassification adjustment for gains included in net income | (2,348) | (621) |
Net securities gain during the period | 7,821 | 8,926 |
Tax effect | (1,641) | (1,869) |
Net of tax amount | 6,180 | 7,057 |
Comprehensive income, net of tax | $ 22,784 | $ 19,154 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2018 | $ 0 | $ 11,927 | $ (2,796) | $ 92,333 | $ 101,464 |
Net income | 0 | 0 | 0 | 12,097 | 12,097 |
Net unrealized gain (loss) on securities available-for- sale, net of reclassification and tax effects | 0 | 0 | 7,057 | 0 | 7,057 |
Comprehensive income | 19,154 | ||||
Net surrender value of restricted stock awards | (63) | (63) | |||
Stock-based compensation expense | 0 | 301 | 0 | 0 | 301 |
Issuance of 416,478 shares at $42.00 per share, for acquisition of AJS Bancorp, Inc | 17,492 | 17,492 | |||
Cash dividends | 0 | 0 | 0 | (4,245) | (4,245) |
Balance at Dec. 31, 2019 | 0 | 29,657 | 4,261 | 100,185 | 134,103 |
Net income | 0 | 0 | 0 | 16,604 | 16,604 |
Net unrealized gain (loss) on securities available-for- sale, net of reclassification and tax effects | 0 | 0 | 6,180 | 0 | 6,180 |
Comprehensive income | 22,784 | ||||
Net surrender value of restricted stock awards | (85) | (85) | |||
Stock-based compensation expense | 0 | 415 | 0 | 0 | 415 |
Cash dividends | 0 | 0 | 0 | (4,295) | (4,295) |
Balance at Dec. 31, 2020 | $ 0 | $ 29,987 | $ 10,441 | $ 112,494 | $ 152,922 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Shares of restricted stock awards surrendered (in shares) | 1,904 | 1,245 |
Shares issued for acquisition (in shares) | 416,478 | |
Shares issued per share (in dollars per share) | $ 42 | |
Cash dividends per share (in dollars per share) | $ 1.24 | $ 1.23 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 16,604 | $ 12,097 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Origination of loans for sale | (224,945) | (78,175) |
Sale of loans originated for sale | 226,447 | 77,018 |
Depreciation and amortization, net of accretion | 3,094 | 1,888 |
Deferred tax expense | 690 | 1,172 |
Amortization of mortgage servicing rights | 107 | 60 |
Stock based compensation expense | 415 | 301 |
Net surrender value of restricted stock awards | (85) | (63) |
Gain on sale of securities, net | (2,348) | (621) |
Gain on sale of loans held-for-sale, net | (7,400) | (1,885) |
Gain on sale of premises and equipment, net | 0 | (133) |
Gain on sale of foreclosed real estate | (78) | (78) |
Gain on derivatives | (188) | (186) |
Benefit from bank owned life insurance | 0 | (205) |
Provision for loan losses | 3,687 | 2,584 |
Net change in: | ||
Interest receivable | (684) | (397) |
Other assets | (1,817) | (5,407) |
Accrued expenses and other liabilities | 7,650 | 2,987 |
Total adjustments | 4,545 | (1,140) |
Net cash - operating activities | 21,149 | 10,957 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposit in other financial institutions | 795 | 739 |
Purchase of certificates of deposit in other financial institutions | (522) | (885) |
Proceeds from maturities and pay downs of securities available-for-sale | 67,014 | 31,595 |
Proceeds from sales of securities available-for-sale | 51,350 | 37,939 |
Purchase of securities available-for-sale | (243,351) | (93,205) |
Loan participations purchased | (9,054) | 0 |
Net change in loans receivable | (49,196) | (54,838) |
Purchase of Federal Home Loan Bank Stock | (6) | 60 |
Purchase of premises and equipment, net | (3,735) | (3,041) |
Proceeds from sale of premises and equipment | 0 | 243 |
Proceeds from sale of foreclosed real estate | 809 | 1,227 |
Write down of foreclosed real estate | 46 | 120 |
Cash and cash equivalents from acquisition activity, net | 0 | 52,560 |
Change in cash value of bank owned life insurance | (708) | (688) |
Net cash - investing activities | (186,558) | (28,174) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Change in deposits | 148,003 | 80,550 |
Proceeds from FHLB advances | 0 | 0 |
Repayment of FHLB advances | (8,000) | (29,000) |
Repayment of trust preferred security related to First Personal Merger | 0 | 0 |
Change in other borrowed funds | 2,361 | (129) |
Dividends paid | (4,291) | (4,085) |
Net cash - financing activities | 138,073 | 47,336 |
Net change in cash and cash equivalents | (27,336) | 30,119 |
Cash and cash equivalents at beginning of period | 47,258 | 17,139 |
Cash and cash equivalents at end of period | 19,922 | 47,258 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 5,865 | 9,099 |
Income taxes | 1,025 | 1,605 |
Acquisition activity: | ||
Fair value of assets acquired, including cash and cash equivalents | 0 | 172,925 |
Value of goodwill and other intangible assets | 0 | 5,856 |
Fair value of liabilities assumed | 0 | 145,546 |
Cash paid for acquisition | 0 | 15,743 |
Issuance of common stock for acquisition | 0 | 17,492 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | $ 233 | $ 639 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Summary of Significant Accounting Policies Principles of Consolidation may Use of Estimates Concentrations of Credit Risk Cash Flow Reporting 90 90 Certificates of deposits in other financial institutions 5 Securities may December 31, 2020, 2019, not The Bancorp considers the following factors when determining an other-than-temporary impairment for a security: the length of time and the extent to which the market value has been less than amortized cost; the financial condition and near-term prospects of the issuer; the underlying fundamentals of the relevant market and the outlook for such market for the near future; and an assessment of whether the Bancorp has ( 1 2 not Loans Held-for-Sale Mortgage loans held-for-sale can be sold with servicing rights retained or released. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing rights. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. Loans and Loan Interest Income 90 no 120 Generally, interest accrued but not Allowance for Loan Losses may A loan is considered impaired when, based on current information and events, it is probable that the Bancorp will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Troubled Debt Restructures not not On March 27, 2020, 4013 19 March 1, 2020 December 31, 2020 60 19 4013 December 27, 2020 January 1, 2022. not 30 December 31, 2019 December 31, 2020, 19 Some of the factors considered by management when determining whether a borrower is experiencing financial difficulties are: ( 1 2 3 Federal Home Loan Bank Stock – may Transfers of Financial Assets 1 2 3 not Premises and Equipment Foreclosed Real Estate Long-term Assets may not Bank Owned Life Insurance Goodwill and Intangibles third may 350, Repurchase Agreements not Income Taxes At December 31, 2020 2019, not not December 31, 2020 2019. Loan Commitments and Related Financial Instruments As part of mortgage banking operations, the Company enters into commitments to originate loans whereby the interest rate on these loans is determined prior to funding (“interest rate lock commitments”). Similar to loans held for sale, the fair value of rate lock commitments is subject to change primarily due to changes in interest rates. The interest rate lock commitments on mortgage loans intended to be sold are recorded at fair value with changes in fair value recorded in current earnings as part of gain on sale of loans held-for-sale, net. Earnings Per Common Share – Comprehensive Income – Loss Contingencies not Restrictions on Cash $2.2 December 31, 2019. March 26, 2020, no December 31, 2020. not December 31, 2020 2019, Fair Value of Financial Instruments Operating Segments not one Reclassification December 31, 2019, may December 31, 2020 Trust Assets not not Adoption of New Accounting Pronouncements – In January 2017, 2017 04, 350 2 2 2, No. 2017 04, 1 2 not No. 2017 04 zero 2 December 31, 2020, January 1, 2020. not not In March 2017, 2017 08, 310 20 not, December 31, 2019, January 1, 2019. not Upcoming Accounting Pronouncements - In June 2016, No. 2016 13, October 2019, December 15, 2022, December 31, 2023. first December 15, 2018, |
Note 2 - Acquisition Activity
Note 2 - Acquisition Activity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 Acquisition Activity On January 24, 2019, July 30, 2018 In connection with the AJSB Merger, each AJSB stockholder holding 100 The Bancorp issued 416,478 shares of Bancorp common stock to the former AJSB stockholders, and paid cash consideration of approximately $15.7 million. Based upon the closing price of the Bancorp’s common stock on January 23, 2019, 2019 Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on the valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, the final purchase price for the AJSB acquisition is allocated as follows: ASSETS Cash and due from banks $ 68,303 Investment securities, available for sale 3,432 Commercial 712 Residential mortgage 85,635 Multifamily 1,442 Consumer 57 Total Loans 87,846 Premises and equipment, net 3,542 FHLB stock 512 Goodwill 2,939 Core deposit intangible 2,917 Interest receivable 351 Other assets 8,939 Total assets purchased $ 178,781 Common shares issued 17,492 Cash paid 15,743 Total purchase price $ 33,235 LIABILITIES Deposits Non-interest bearing $ 24,502 NOW accounts 10,712 Savings and money market 68,875 Certificates of deposits 40,137 Total Deposits 144,226 Interest payable 50 Other liabilities 1,270 Total liabilities assumed $ 145,546 |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 Securities The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2020 Money market fund $ 52,941 $ - $ - $ 52,941 U.S. government sponsored entities 7,881 3 (24 ) 7,860 Collateralized mortgage obligations and residential mortgage-backed securities 151,355 3,417 (36 ) 154,736 Municipal securities 183,103 11,102 (2 ) 194,203 Collateralized debt obligations 2,182 - (1,253 ) 929 Total securities available-for-sale $ 397,462 $ 14,522 $ (1,315 ) $ 410,669 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2019 Money market fund $ 9,670 $ - $ - $ 9,670 U.S. government sponsored entities 12,994 64 - 13,058 Collateralized mortgage obligations and residential mortgage-backed securities 149,339 1,745 (96 ) 150,988 Municipal securities 97,628 4,844 (45 ) 102,427 Collateralized debt obligations 2,202 - (1,126 ) 1,076 Total securities available-for-sale $ 271,833 $ 6,653 $ (1,267 ) $ 277,219 The estimated fair value of available-for-sale securities and carrying amount, if different, at December 31, 2020, not 2020 (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent December 31, 2020 Value Yield (%) Due in one year or less $ 52,941 0.03 Due from one to five years 3,779 4.20 Due from five to ten years 23,344 2.67 Due over ten years 175,869 3.37 Collateralized mortgage obligations and residential mortgage-backed securities 154,736 1.87 Total $ 410,669 2.34 Sales of available-for-sale securities were as follows: (Dollars in thousands) December 31, December 31, 2020 2019 Proceeds $ 51,350 $ 37,939 Gross gains 2,407 888 Gross losses (59 ) (267 ) The tax provisions related to these net realized gains were approximately $493 thousand for 2020 2019. Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows: (Dollars in thousands) Unrealized Ending balance, December 31, 2019 $ 4,261 Current period change 6,180 Ending balance, December 31, 2020 $ 10,441 Securities with carrying values of approximately $52.4 million and $65.5 million were pledged as of December 31, 2020 2019, Securities with unrealized losses at December 31, 2020, 2019, not (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2020 U.S. government sponsored entities $ 4,975 $ (24 ) $ - $ - $ 4,975 $ (24 ) Collateralized mortgage obligations and residential mortgage-backed securities 11,953 (36 ) - - 11,953 (36 ) Municipal securities 1,864 (2 ) - - 1,864 (2 ) Collateralized debt obligations - - 929 (1,253 ) 929 (1,253 ) Total temporarily impaired $ 18,792 $ (62 ) $ 929 $ (1,253 ) $ 19,721 $ (1,315 ) Number of securities 8 2 10 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2018 U.S. government sponsored entities $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations and residential mortgage-backed securities 8,859 (31 ) 15,065 (65 ) 23,924 (96 ) Municipal securities 4,367 (45 ) - - 4,367 (45 ) Collateralized debt obligations - - 1,076 (1,126 ) 1,076 (1,126 ) Total temporarily impaired $ 13,226 $ (76 ) $ 16,141 $ (1,191 ) $ 29,367 $ (1,267 ) Number of securities 11 17 28 Unrealized losses on securities have not |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 Loans Receivable Year end loans are summarized below: Loans receivable are summarized below: (Dollars in thousands) December 31, 2020 December 31, 2019 Loans secured by real estate: Residential real estate $ 286,048 $ 299,569 Home equity 39,233 49,118 Commercial real estate 298,257 283,108 Construction and land development 93,562 87,710 Multifamily 50,571 51,286 Farmland 215 227 Total loans secured by real estate 767,886 771,018 Commercial business 158,140 103,222 Consumer 1,025 627 Manufactured homes 24,232 13,285 Government 10,142 15,804 Subtotal 961,425 903,956 Plus: Net deferred loan origination fees 5,303 2,934 Undisbursed loan funds (150 ) (21 ) Loans receivable $ 966,578 $ 906,869 During 2020, 19 December 31, 2020, PPP processing fees received from the SBA totaling $3.5 million were deferred along with loan origination costs and recognized as interest income using the effective yield method. Upon forgiveness of a loan and resulting repayment by the SBA, any unrecognized net fee for a given loan is recognized as interest income. $1.2 million of the fees were recognized in 2020. (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2020: Allowance for loan losses: Residential real estate $ 1,812 $ (2 ) $ 27 $ 374 $ 2,211 Home equity 223 - - 53 276 Commercial real estate 3,773 (80 ) - 1,713 5,406 Construction and land development 1,098 (17 ) - 324 1,405 Multifamily 529 - - 97 626 Farmland - - - - - Commercial business 1,504 (158 ) 17 1,145 2,508 Consumer 43 (29 ) 14 (2 ) 26 Manufactured homes - - - - - Government 17 - - (17 ) - Total $ 8,999 $ (286 ) $ 58 $ 3,687 $ 12,458 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2019: Allowance for loan losses: Residential real estate $ 1,715 $ (160 ) $ 29 $ 228 $ 1,812 Home equity 202 - - 21 223 Commercial real estate 3,335 (229 ) - 667 3,773 Construction and land development 756 - - 342 1,098 Multifamily 472 - - 57 529 Farmland - - - - - Commercial business 1,362 (1,178 ) 25 1,295 1,504 Consumer 82 (54 ) 20 (5 ) 43 Manufactured homes - - - - - Government 38 - - (21 ) 17 Total $ 7,962 $ (1,621 ) $ 74 $ 2,584 $ 8,999 A deferred cost reserve is maintained for the portfolio of manufactured home loans that have been purchased. This reserve is available for use for manufactured home loan nonperformance and costs associated with nonperformance. If the segment performs in line with expectation, the deferred cost reserve is paid as an origination cost to the third December 31, 2020 December 31, 2019, The Bancorp's impairment analysis is summarized below: Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Loans individually evaluated for impairment Purchased credit impaired loans individually evaluated for impairment Loans collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2020: Residential real estate $ 173 $ 2,038 $ 285,651 $ 868 $ 1,297 $ 283,486 Home equity 1 275 39,286 216 137 38,933 Commercial real estate 1,089 4,317 298,257 6,190 151 291,916 Construction and land development - 1,405 93,562 - - 93,562 Multifamily - 626 50,571 95 621 49,855 Farmland - - 215 - - 215 Commercial business 512 1,996 156,965 1,086 1,160 154,719 Consumer - 26 1,025 - - 1,025 Manufactured homes - - 30,904 - - 30,904 Government - - 10,142 - - 10,142 Total $ 1,775 $ 10,683 $ 966,578 $ 8,455 $ 3,366 $ 954,757 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2019: Residential real estate $ 10 $ 1,802 $ 299,333 $ 642 $ 1,581 $ 297,110 Home equity 4 219 49,181 221 216 48,744 Commercial real estate - 3,773 283,108 1,078 487 281,543 Construction and land development - 1,098 87,710 - - 87,710 Multifamily - 529 51,286 129 673 50,484 Farmland - - 227 - - 227 Commercial business 152 1,352 103,088 1,041 1,150 100,897 Consumer - 43 627 - - 627 Manufactured homes - - 16,505 - - 16,505 Government - 17 15,804 - - 15,804 Total $ 166 $ 8,833 $ 906,869 $ 3,111 $ 4,107 $ 899,651 The Bancorp's credit quality indicators are summarized below at December 31, 2020 December 31, 2019: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category December 31, 2020 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 1,202 $ 116,631 $ 100,334 $ 15,753 $ 41,805 $ 3,539 $ 6,387 $ 285,651 Home equity 66 4,949 31,974 108 933 761 495 39,286 Commercial real estate - 1,847 70,062 150,983 55,202 11,983 8,180 298,257 Construction and land development - 4,282 31,612 41,961 12,055 3,652 - 93,562 Multifamily - 709 7,264 35,621 5,065 1,408 504 50,571 Farmland - - - - 215 - - 215 Commercial business 7,929 75,783 16,842 33,942 20,067 1,341 1,061 156,965 Consumer 510 1 514 - - - - 1,025 Manufactured homes 6,673 1,864 21,460 176 731 - - 30,904 Government - - 9,202 940 - - - 10,142 Total $ 16,380 $ 206,066 $ 289,264 $ 279,484 $ 136,073 $ 22,684 $ 16,627 $ 966,578 December 31, 2019 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 827 $ 119,138 $ 104,153 $ 13,463 $ 53,058 $ 4,203 $ 4,491 $ 299,333 Home equity 100 6,536 40,027 264 934 813 507 49,181 Commercial real estate - 2,030 82,158 135,058 56,917 5,380 1,565 283,108 Construction and land development... - 719 26,900 45,751 14,340 - - 87,710 Multifamily - 903 18,107 26,800 4,674 - 802 51,286 Farmland - - - - 227 - - 227 Commercial business 8,312 13,158 19,638 39,016 20,009 2,228 727 103,088 Consumer 90 - 537 - - - - 627 Manufactured homes 3,221 2,413 9,825 184 862 - - 16,505 Government - 1,889 11,505 2,410 - - - 15,804 Total $ 12,550 $ 146,786 $ 312,850 $ 262,946 $ 151,021 $ 12,624 $ 8,092 $ 906,869 The Bancorp has established a standard loan grading system to assist management, lenders and review personnel in their analysis and supervision of the loan portfolio. The use and application of theses grades by the Bancorp is uniform and conforms to regulatory definitions. The loan grading system is as follows: 1 Minimal Risk Borrower demonstrates exceptional credit fundamentals, including stable and predictable profit margins, strong liquidity and a conservative balance sheet with superior asset quality. Excellent cash flow coverage of existing and projected debt service. Historic and projected performance indicates borrower is able to meet obligations under almost any economic circumstances. 2 Borrower consistently internally generates sufficient cash flow to fund debt service, working assets, and some capital expenditures. Risk of default considered low. 3 Borrower generates sufficient cash flow to fund debt service and some working assets and/or capital expansion needs. Profitability and key balance sheet ratios are at or slightly above peers. Current trends are positive or stable. Earnings may may 4 Borrower generates sufficient cash flow to fund debt service, but most working asset and all capital expansion needs are provided from external sources. Profitability ratios and key balance sheet ratios are usually close to peers but one may may three may 5 Borrower may may not 6 The borrower has significant weaknesses resulting from performance trends or management concerns. The financial condition of the company has taken a negative turn and may may 7 Special mention credits are considered bankable assets with no not 8 This classification consists of loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Financial statements normally reveal some or all of the following: poor trends, lack of earnings and cash flow, excessive debt, lack of liquidity, and the absence of creditor protection. Loans are still considered collectible, but due to increased risks and defined weaknesses of the credit, some loss could be incurred in collection if the deficiencies are not 9 This classification consists of loans where the possibility of loss is high after collateral liquidation based upon existing facts, market conditions, and value. Loss is deferred until certain important and reasonably specific pending factors which may may Performing loans are loans that are paying as agreed and are less than ninety During the twelve December 31, 2020, 2020, one one not In March 2020, 19 December 31, 2020, not December 31, 2020, The Bancorp's individually evaluated impaired loans are summarized below: For the twelve months ended As of December 31, 2020 December 31, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,895 $ 3,228 $ - $ 2,028 $ 115 Home equity 352 363 - 373 16 Commercial real estate 1,177 1,761 - 1,305 80 Construction and land development - - - - - Multifamily 716 798 - 763 42 Farmland - - - - Commercial business 1,497 1,514 - 1,591 80 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 270 $ 314 $ 173 $ 174 $ 6 Home equity 1 9 1 5 - Commercial real estate 5,164 5,164 1,089 2,109 16 Construction and land development - - - - - Multifamily - - - - - Farmland - - - - Commercial business 749 749 512 739 30 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,165 $ 3,542 $ 173 $ 2,202 $ 121 Home equity $ 353 $ 372 $ 1 $ 378 $ 16 Commercial real estate $ 6,341 $ 6,925 $ 1,089 $ 3,414 $ 96 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 716 $ 798 $ - $ 763 $ 42 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,246 $ 2,263 $ 512 $ 2,330 $ 110 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the twelve months ended As of December 31, 2019 December 31, 2019 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 2,140 $ 3,555 $ - $ 1,960 $ 85 Home equity 429 451 - 380 10 Commercial real estate 1,547 2,141 - 1,578 52 Construction & land development - - - - - Multifamily 802 884 - 581 20 Farmland - - - - - Commercial business 1,814 1,906 - 1,909 81 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 83 $ 83 $ 10 $ 143 $ 3 Home equity 8 8 4 50 - Commercial real estate 18 18 - 382 - Construction & land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 377 377 152 513 4 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,223 $ 3,638 $ 10 $ 2,103 $ 88 Home equity $ 437 $ 459 $ 4 $ 430 $ 10 Commercial real estate $ 1,565 $ 2,159 $ - $ 1,960 $ 52 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 802 $ 884 $ - $ 581 $ 20 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,191 $ 2,283 $ 152 $ 2,422 $ 85 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - The Bancorp's age analysis of past due loans is summarized below: (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Recorded Investments Greater than 90 Days Past Due and Accruing December 31, 2020 Residential real estate $ 2,797 $ 1,119 $ 4,875 $ 8,791 $ 276,860 $ 285,651 $ 80 Home equity 616 323 416 1,355 37,931 39,286 29 Commercial real estate 1,172 237 680 2,089 296,168 298,257 437 Construction and land development 471 - 20 491 93,071 93,562 20 Multifamily 94 266 150 510 50,061 50,571 - Farmland - - - - 215 215 - Commercial business 845 96 269 1,210 155,755 156,965 - Consumer 2 - - 2 1,023 1,025 - Manufactured homes 303 173 - 476 30,428 30,904 - Government 380 - - 380 9,762 10,142 - Total $ 6,680 $ 2,214 $ 6,410 $ 15,304 $ 951,274 $ 966,578 $ 566 December 31, 2019 Residential real estate $ 3,486 $ 1,332 $ 3,724 $ 8,542 $ 290,791 $ 299,333 $ 452 Home equity 90 24 388 502 48,679 49,181 19 Commercial real estate 1,461 170 719 2,350 280,758 283,108 61 Construction and land development 143 289 - 432 87,278 87,710 - Multifamily 140 - 160 300 50,986 51,286 - Farmland - - - - 227 227 - Commercial business 926 583 870 2,379 100,709 103,088 288 Consumer - - - - 627 627 - Manufactured homes 63 36 46 145 16,360 16,505 46 Government - - - - 15,804 15,804 - Total $ 6,309 $ 2,434 $ 5,907 $ 14,650 $ 892,219 $ 906,869 $ 866 The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) December 31, December 31, 2020 2019 Residential real estate $ 6,390 $ 4,374 Home equity 476 473 Commercial real estate 5,390 658 Construction and land development. - - Multifamily 504 420 Farmland - - Commercial business 1,039 582 Consumer - - Manufactured homes - - Government - - Total $ 13,799 $ 6,507 As a result of acquisition activity, the Bancorp acquired loans for which there was evidence of credit quality deterioration since origination and it was determined that it was probable that the Bancorp would be unable to collect all contractually required principal and interest payments. At December 31, 2020, December 31, 2019, As the result of the acquisition of First Personal Financial Corp. (“First Personal”), which closed in July 2018, Accretable interest taken from the purchase credit impaired portfolio, or income recorded for the twelve December 31, (dollars in thousands) First Personal 2019 $ 147 2020 99 Accretable interest taken from the purchase credit impaired portfolio, or income expected to be recorded in the future is as follows: (dollars in thousands) First Personal 2021 21 Total $ 21 For the acquisitions of First Federal Savings & Loan of Hammond (“First Federal”), Liberty Savings Bank (“Liberty Savings”), First Personal, and AJSB as part of the fair value of loans receivable, a net fair value discount was established for loans. This discount, or accretable yield, is recognized in interest income over the remaining estimated life of the loan pools. The net fair value discount at the acquisition date and accretable periods are summarized below: (dollars in thousands) First Federal Libery Savings First Personal AJSB Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Residential real estate $ 1,062 59 $ 1,203 44 $ 948 56 $ 3,734 52 Home equity 44 29 5 29 51 50 141 32 Commercial real estate - - - - 208 56 8 9 Construction and land development - - - - 1 30 - - Multifamily - - - - 11 48 2 48 Consumer - - - - 146 50 1 5 Commercial business - - - - 348 24 - - Purchased credit impaired loans - - - - 424 32 - - Total $ 1,106 $ 1,208 $ 2,137 $ 3,886 Accretable yield, or income recorded for the twelve months ended December 31, is as follows: (dollars in thousands) First Federal Libery Savings First Personal AJSB Total 2019 $ 22 $ 42 $ 586 $ 1,174 $ 1,824 2020 - - 534 1,286 1,820 Accretable yield, or income expected to be recorded in the future is as follows: (dollars in thousands) First Personal AJ Smith Total 2021 $ 243 $ 536 $ 779 2022 243 536 779 2023 106 355 461 Total $ 592 $ 1,426 $ 2,018 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment, Net | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 – Premises and Equipment, Net At year end, premises and equipment are summarized as follows: (Dollars in thousands) 2020 2019 Cost: Land $ 8,933 $ 8,936 Buildings and improvements 33,394 30,863 Furniture and equipment 18,066 16,904 Total cost 60,393 56,703 Less accumulated depreciation (29,608 ) (27,296 ) Premises and equipment, net $ 30,785 $ 29,407 Depreciation expense was approximately $2.3 million and $1.9 million for 2020 2019, |
Note 6 - Foreclosed Real Estate
Note 6 - Foreclosed Real Estate | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | Note 6 Foreclosed Real Estate At year end, foreclosed real estate is summarized below: (Dollars in thousands) 2020 2019 Residential real estate $ 328 $ 957 Commercial real estate - 126 Commercial business 210 - Total $ 538 $ 1,083 |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 – Goodwill and Other Intangible Assets The Bancorp established a goodwill balance totaling $11.1 million from past acquisitions. Goodwill of $2.9 million, $5.4 million, $2.0 million, and $804 thousand were established with the acquisition of AJSB, First Personal, First Federal, and Liberty Savings, respectively. Goodwill is tested annually for impairment. Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. The Bancorp’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of the Bancorp to provide quality, cost effective banking services in a competitive marketplace. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. As a result of the COVID- 19 June 30, 2020. third June 30, 2020 no Additionally, as part of the Bancorp’s annual impairment test of goodwill as of December 31, 2020, third December 31, 2020 not December 31, 2020 December 31, 2019. In addition to goodwill, a core deposit intangible of $93 thousand for the acquisition of First Federal was established and is being amortized over an initial period of 7.9 years on a straight line basis. A core deposit intangible of $471 thousand for the acquisition of Liberty Savings was established and is being amortized over an initial period of 8.2 years on a straight line basis. A core deposit intangible of $3.0 million for the acquisition of First Personal was established and is being amortized over an initial period of 6.4 years on a straight line basis. A core deposit intangible of $2.9 million for the acquisition of AJSB was established and is being amortized over an initial period of 6.5 years on a straight line basis. The table below summarizes the annual amortization: The annual amortization for the twelve months ended December 31, is as follows: (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total 2019 $ 12 $ 58 $ 475 $ 411 $ 545 2020 12 58 475 449 994 The expected future annual amortization for the twelve months ended December 31, as follows: (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total 2021 12 58 475 449 994 2022 1 58 475 449 983 2023 - 38 475 449 962 2024 - - 470 449 919 2025 - - - 261 261 Total $ 13 $ 154 $ 1,895 $ 2,057 $ 4,119 For the First Personal acquisition, as part of the fair value of certificates of deposit, a fair value premium was established of $133 thousand that was being amortized over 8 months on a straight line basis. Amortization taken into income was approximately $53 thousand during 2019. December 31, 2019. 2020 2019, December 31, 2020. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8 Income Taxes At year-end, components of income tax expense consist of the following: (Dollars in thousands) 2020 2019 Federal: Current $ 2,202 $ 587 Deferred (17 ) 755 State: Deferred, net of valuation allowance 707 417 Income tax expense $ 2,892 $ 1,759 Effective tax rates differ from the federal statutory rate of 21% for 2020 2019 (Dollars in thousands) 2020 2019 Federal statutory rate 21 % 21 % Tax expense at statutory rate $ 4,094 $ 2,909 State tax, net of federal effect 559 335 Tax exempt income (887 ) (704 ) Bank owned life insurance (149 ) (187 ) Captive insurance (188 ) (197 ) Tax credit investments (415 ) (392 ) Non-deductible transaction costs - 58 Other (122 ) (63 ) Total income tax expense $ 2,892 $ 1,759 At December 31, (Dollars in thousands) 2020 2019 Deferred tax assets: Bad debts $ 3,090 $ 2,182 Deferred compensation 343 337 Net operating loss 2,553 3,218 Tax credits 70 183 Nonaccrual loan interest income 206 162 Share based compensation 256 202 REO writedowns 23 55 Unqualified deferred compensation plan 60 58 Other-than-temporary impairment 39 40 Accrued vacation 75 35 Impairment on land - 49 Other 84 93 Total deferred tax assets 6,799 6,614 Deferred tax liabilities: Depreciation (1,147 ) (1,067 ) Prepaids (443 ) (368 ) Mortgage servicing rights (163 ) (49 ) Deferred stock dividends (100 ) (101 ) Deferred loan costs, net of fees (288 ) (93 ) Unrealized appreciation on securities available-for-sale, net (2,767 ) (1,126 ) Purchase accounting (492 ) (187 ) Partnership (280 ) (173 ) Other (116 ) (92 ) Total deferred tax liabilities (5,796 ) (3,256 ) Valuation allowance (22 ) (92 ) Net deferred tax asset $ 981 $ 3,266 At December 31, 2020, not 2017 not no December 31, 2020 2019, The Bancorp acquired $3.3 million of federal net operating loss carryforwards and $7.2 million of Illinois net operating loss carryforwards with the acquisition of First Personal Financial Corp during 2018 2028 2035, not 2019 2029. 382 no not The Bancorp acquired $6.5 million of federal net operating loss carryforwards and $11.4 million of Illinois net operating loss carryforwards with the acquisition of AJS Bancorp Inc. during 2019 2030 2037, not 2020 2031. 382 no not At December 31, 2020, The Bancorp qualified under provisions of the Internal Revenue Code, to deduct from taxable income a provision for bad debts in excess of the provision for such losses charged to income in the financial statements, if any. Accordingly, retained earnings at December 31, 2020, 2019, no December 31, 2020, 2019. The Bancorp had no 2020 2019 not 2021. 2020 2019. The Bancorp and its subsidiaries are subject to US federal income tax as well as income tax of the states of Indiana and Illinois. The Bancorp is no 2017. |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 9 Deposits The aggregate amount of certificates of deposit with a balance of $250 December 31, 2020 December 31, 2019. At December 31, 2020, (Dollars in thousands) 2021 $ 252,894 2022 22,202 2023 7,201 2024 2,019 2025 401 Thereafter 111 Total $ 284,828 |
Note 10 - Borrowed Funds
Note 10 - Borrowed Funds | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 10 – Borrowed Funds At December 31, 2020, December 31, 2019, (Dollars in thousands) 2020 2019 Fixed rate advances from the FHLB $ 6,000 $ 14,000 Other 149 - Total $ 6,149 $ 14,000 At December 31, 2020, (Dollars in thousands) 2021 $ 6,000 Total $ 6,000 Repurchase agreements generally mature within one December 31, (Dollars in thousands) 2020 2019 Ending balance $ 13,711 $ 11,499 Average balance during the year 16,975 12,928 Maximum month-end balance during the year 21,100 20,628 Securities underlying the agreements at year end: Carrying value 23,860 16,961 Fair value 23,860 16,961 Average interest rate during the year 0.58 % 1.80 % Average interest rate at year end 0.32 % 1.51 % At December 31, (Dollars in thousands) 2020 2019 Fixed rate advances, maturing January 2021 through March 2021 at rates from 2.65% to 2.68%; average rate: 2020 – 2.66%; 2019 – 2.62 $ 6,000 $ 14,000 Fixed rate advances are payable at maturity, with a prepayment penalty. The advances were collateralized by mortgage loans with a carrying value totaling approximately $506.4 million and $340.0 million at December 31, 2020 2019, not December 31, 2020 December 31, 2019. December 31, 2020, not December 31, 2019. |
Note 11 - Employees' Benefit Pl
Note 11 - Employees' Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 11 Employees’ Benefit Plans The Bancorp maintains an Employees’ Savings and Profit Sharing Plan and Trust for all employees who meet the plan qualifications. Employees are eligible to participate in the Employees’ Savings and Profit Sharing Plan and Trust on the next January 1 July 1 one 18, 1,000 401 first 90 December 31, 2020 2019 two three four five 100% 65 2020 2019. The Bancorp maintains an Unqualified Deferred Compensation Plan (the “UDC Plan”). The purpose of the UDC Plan is to provide deferred compensation to key senior management employees of the Bancorp in order to recognize their substantial contributions to the Bank and provide them with additional financial security as inducement to remain with the Bank. The Compensation Committee selects which persons shall be participants in the UDC Plan. Participants’ accounts are credited each year with an amount based on a formula involving the participant’s employer funded contributions under all qualified plans and the limitations imposed by Internal Revenue Code subsection 401 17 415. December 31, 2020 2019 2020 2019. Directors have deferred some of their fees in consideration of future payments. Fee deferrals, including interest, totaled approximately $68 thousand and $60 thousand for 2020 2019, December 31, 2020 2019 |
Note 12 - Regulatory Capital
Note 12 - Regulatory Capital | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 12 Regulatory Capital The Bancorp and Bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet various capital requirements can initiate regulatory action. Prompt corrective action regulations provide five not December 31, 2020 2019, no In addition to establishing the minimum regulatory capital requirements, the regulations limit capital distributions by the institution and certain discretionary bonus payments to management if an institution does not 2.5% 1 January 1, 2016 0.625% January 1, 2019. The following table shows that, at December 31, 2020, 2019, (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 125.3 12.8 % $ 43.9 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 125.3 12.8 % $ 58.6 6.0 % N/A N/A Total capital to risk-weighted assets $ 137.5 14.0 % $ 78.1 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 125.3 8.5 % $ 59.2 4.0 % N/A N/A (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 110.8 11.8 % $ 42.4 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 110.8 11.8 % $ 56.5 6.0 % N/A N/A Total capital to risk-weighted assets $ 119.8 12.7 % $ 75.3 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 110.8 8.5 % $ 52.3 4.0 % N/A N/A In addition, the following table shows that, at December 31, 2020, 2019, (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 123.3 12.7 % $ 43.8 4.5 % $ 63.2 6.5 % Tier 1 capital to risk-weighted assets $ 123.3 12.7 % $ 58.4 6.0 % $ 77.8 8.0 % Total capital to risk-weighted assets $ 135.4 13.9 % $ 77.8 8.0 % $ 97.3 10.0 % Tier 1 capital to adjusted average assets $ 123.3 8.3 % $ 59.1 4.0 % $ 73.9 5.0 % (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 108.9 11.6 % $ 42.4 4.5 % $ 61.2 6.5 % Tier 1 capital to risk-weighted assets $ 108.9 11.6 % $ 56.5 6.0 % $ 75.3 8.0 % Total capital to risk-weighted assets $ 117.9 12.5 % $ 75.3 8.0 % $ 94.1 10.0 % Tier 1 capital to adjusted average assets $ 108.9 8.3 % $ 52.3 4.0 % $ 65.3 5.0 % The Bancorp’s ability to pay dividends to its shareholders is entirely dependent upon the Bank’s ability to pay dividends to the Bancorp. Under Indiana law, the Bank may two 1 2 not 1 7.5%; not may 2021, 2021 may November 20, 2020 fourth fourth January 8, 2021. |
Note 13 - Stock Based Compensat
Note 13 - Stock Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 13 Stock Based Compensation The Bancorp’s 2015 February 17, 2015 April 24, 2015, may 2020 2019. The fair value of each incentive stock option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected volatilities are based on historical volatilities of the Company’s common stock. No incentive stock options were granted during 2020 2019. not At December 31, 2020 2019, Restricted stock awards are generally granted with an award price equal to the market price of the Bancorp’s common stock on the award date. Restricted stock awards have been issued with a three five 2020 2019, When awarded restricted shares vest, employees of the Bank can elect to surrender a portion of their vested shares back to the Bancorp to cover the tax liability of their awards. Shares were surrendered with a total value of $85 thousand and $63 thousand in 2020 2019, A summary of changes in the Bancorp’s non-vested restricted stock for 2020 2019 Non-vested Shares Shares Weighted Non-vested at January 1, 2019 27,423 $ 32.58 Granted 7,407 43.00 Vested (4,625 ) 29.37 Forfeited - - Non-vested at December 31, 2019 30,205 $ 35.63 Non-vested at January 1, 2020 30,205 $ 35.63 Granted 13,243 44.30 Vested (6,400 ) 27.50 Forfeited (220 ) 43.65 Non-vested at December 31, 2020 36,828 $ 40.11 As of December 31, 2020, |
Note 14 - Earnings Per Common S
Note 14 - Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 1 4 – Earnings per Common Share Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic earnings per common share and diluted earnings per common share computations for 2020 2019 2020 2019 Basic earnings per common share: Net income as reported $ 16,604 $ 12,097 Weighted average common shares outstanding 3,461,948 3,425,056 Basic earnings per common share $ 4.80 $ 3.53 Diluted earnings per common share: Net income as reported $ 16,604 $ 12,097 Weighted average common shares outstanding 3,461,948 3,425,056 Weighted average common and dilutive potential common shares outstanding 3,461,948 3,425,056 Diluted earnings per common share $ 4.80 $ 3.53 |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 1 5 – Related Party Transactions The Bancorp had aggregate loans outstanding to directors and executive officers (with individual balances exceeding $120 thousand) of approximately $4.4 million at December 31, 2020, December 31, 2019. December 31, 2020, (Dollars in thousands) Aggregate balance at the beginning of the year $ 4,021 New loans 1,042 Repayments (713 ) Aggregate balance at the end of the year $ 4,350 Deposits from directors and executive officers totaled approximately $5.3 million and $4.5 million at December 31, 2020 2019, |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 16 Commitments and Contingencies The Bancorp is a party to financial instruments in the normal course of business to meet the financing needs of its customers. These financial instruments, which include commitments to make loans and standby letters of credit, are not The Bancorp’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to originate loans and standby letters of credit is represented by the contractual amount of those instruments. Commitments generally have fixed expiration dates or other termination clauses and may may not The Bancorp had outstanding commitments to originate loans as follows: (Dollars in thousands) Fixed Variable Rate Rate Total December 31, 2020: Residential real estate $ 749 $ 21,961 $ 22,710 Home equity 44,972 7,951 52,923 Commercial real estate 2,955 13,138 16,093 Construction and land development 20,667 30,959 51,626 Multifamily 158 579 737 Consumer 23,020 - 23,020 Commercial business 946 56,744 57,690 Lot - 87 87 Total $ 93,467 $ 131,419 $ 224,886 December 31, 2019: Residential real estate $ 165 $ 10,377 $ 10,542 Home equity 40,429 8,841 49,270 Commercial real estate 5,890 11,537 17,427 Construction and land development 15,797 25,165 40,962 Multifamily 4,093 306 4,399 Consumer 21,677 - 21,677 Commercial business 1,161 52,879 54,040 Total $ 89,212 $ 109,105 $ 198,317 The approximately $93.5 million in fixed rate commitments outstanding at December 31, 2020, not forty-five December 31, 2019, not forty-five Standby letters of credit are conditional commitments issued by the Bancorp to guarantee the performance of a customer to a third December 31, 2020 2019, not may |
Note 17 - Derivative Financial
Note 17 - Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 17 Derivative Financial Instruments The Bancorp has certain interest rate derivative positions that are not not not not The Bancorp enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (i.e., interest rate lock commitment). The interest rate lock commitments are considered derivatives and are recorded on the accompanying consolidated balance sheets at fair value in accordance with FASB ASC 815, The following table shows the amounts of non-hedging derivative financial instruments: December 31, 2020 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 72,707 Other assets $ 3,638 Other liabilties $ 3,638 Interest rate lock commitments 26,443 Other assets 374 N/A - Total $ 99,150 $ 4,012 $ 3,638 December 31, 2019 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 29,466 Other assets $ 1,358 Other liabilties $ 1,358 Interest rate lock commitments 12,822 Other assets 186 N/A - Total $ 42,288 $ 1,544 $ 1,358 The following table shows the amounts included in the Statements of Income for non-hedging derivative financial instruments: Year-ended (Dollars in thousands) Statement of Income Classification 2020 2019 Interest rate swap contracts Fees and service charges $ 800 $ 371 Interest rate lock commitments Gain on sale of loans held-for-sale, net 187 186 Total $ 987 $ 557 The following table shows the offsetting of financial assets and derivative assets: Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Assets Presented Cash Collateral (Dollars in thousands) Recognized Assets Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Received Net Amount December 31, 2020 Interest rate swap contracts $ 3,638 $ - $ 3,638 $ - $ - $ 3,638 Interest rate lock commitments 374 - 374 - - 374 Total $ 4,012 $ - $ 4,012 $ - $ - $ 4,012 Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Liabilities Presented Cash Collateral (Dollars in thousands) Recognized Liabilities Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Received Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ - $ 1,358 Interest rate lock commitments 186 - 186 - - 186 Total $ 1,544 $ - $ 1,544 $ - $ - $ 1,544 The following table shows the offsetting of financial liabilities and derivative liabilities: Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Liabilities Presented Cash Collateral (Dollars in thousands) Recognized Liabilities Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Pledged Net Amount December 31, 2020 Interest rate swap contracts $ 3,638 $ - $ 3,638 $ - $ 3,930 $ (292 ) Total $ 3,638 $ - $ 3,638 $ - $ 3,930 $ (292 ) Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Liabilities Presented Cash Collateral (Dollars in thousands) Recognized Liabilities Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Pledged Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) Total $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) |
Note 18 - Fair Values of Financ
Note 18 - Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 1 8 – Fair Values of Financial Instruments The Fair Value Measurements Topic (the “Topic”) establishes a hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Topic describes three may Level 1: Level 2: 1 not Level 3: The fair values of securities available for sale are determined on a recurring basis by obtaining quoted prices on nationally recognized securities exchanges or pricing models utilizing significant observable inputs such as matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities. Different judgments and assumptions used in pricing could result in different estimates of value. In certain cases where market data is not may 3 At the end of each reporting period, securities held in the investment portfolio are evaluated on an individual security level for other-than-temporary impairment in accordance with the Investments – Debt and Equity Securities Topic. Impairment is other-than-temporary if the decline in the fair value of the security is below its amortized cost and it is probable that all amounts due according to the contractual terms of a debt security will not 1 2 not The Bancorp’s management utilizes a specialist to perform an other-than-temporary impairment analysis for each of its two December 31 10 10 9C 9LP six 1, two December 31, 2020 2019. The table below shows the credit loss roll forward for the Bancorp’s pooled trust preferred securities that have been classified with other-than-temporary impairment: (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2019 $ 173 Additions not previously recognized - Ending balance, December 31, 2020 $ 173 The Bancorp’s subordination for each trust preferred security is calculated by taking the total performing collateral and subtracting the sum of the total collateral within the Bancorp’s class and the total collateral within all senior classes, and then stating this result as a percentage of the total performing collateral. This measure is an indicator of the level of collateral that can default before potential cash flow disruptions may December 31, 2020 2019, Management calculated the other-than-temporary impairment model assumptions based on the specific collateral underlying each individual security. The following assumption methodology was applied consistently to each of the two no no 3 At December 31, 2020 2019, not not Assets and Liabilities Measured at Fair Values on a Recurring Basis There were no 1 2 December 31, 2020 2019. 3 3 2020 2019. (Dollars in thousands) Fair Value Measurements at December 31, 2020 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available-for-sale debt securities: Money market fund $ 52,941 $ 52,941 $ - $ - U.S. government sponsored entities 7,860 - 7,860 - Collateralized mortgage obligations and residential mortgage-backed securities 154,736 - 154,736 - Municipal securities 194,203 - 194,203 - Collateralized debt obligations 929 - - 929 Total securities available-for-sale $ 410,669 $ 52,941 $ 356,799 $ 929 (Dollars in thousands) Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available-for-sale debt securities: Money market fund $ 9,670 $ 9,670 $ - $ - U.S. government sponsored entities 13,058 - 13,058 - Collateralized mortgage obligations and residential mortgage-backed securities 150,988 - 150,988 - Municipal securities 102,427 - 102,427 - Collateralized debt obligations 1,076 - - 1,076 Total securities available-for-sale $ 277,219 $ 9,670 $ 266,473 $ 1,076 A reconciliation of available-for-sale securities, which require significant adjustment based on unobservable data, is presented below: (Dollars in thousands) Estimated Fair Value Available-for- Beginning balance, January 1, 2019 $ 2,049 Principal payments (38 ) Total unrealized losses, included in other comprehensive income 52 Sale out of Level 3 (987 ) Ending balance, December 31, 2019 $ 1,076 Beginning balance, January 1, 2020 $ 1,076 Principal payments (20 ) Total unrealized gains, included in other comprehensive income (127 ) Sale out of Level 3 - Ending balance, December 31, 2020 $ 929 Assets and Lia bilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at December 31, 2020 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 10,046 $ - $ - $ 10,046 Foreclosed real estate 538 - - 538 (Dollars in thousands) Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 7,052 $ - $ - $ 7,052 Foreclosed real estate 1,083 - - 1,083 The fair value of impaired loans with specific allocations of the allowance for loan losses or loans for which charge-offs have been taken is generally based on the present value of future cash flows or, for collateral dependent loans, based on recent real estate appraisals. Appraisals may December 31, 2020. December 31, 2019. 2 3 not The following table shows carrying values and related estimated fair values of financial instruments as of the dates indicated. Estimated fair values are further categorized by the inputs used to measure fair value. Items that are not not December 31, 2020 Estimated Fair Value Measurements at December 31, 2020 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 19,922 $ 19,922 $ 19,922 $ - $ - Certificates of deposit in other financial institutions 1,897 1,868 - 1,868 - Securities available-for-sale 410,669 410,669 52,941 356,799 929 Loans held-for-sale 11,329 11,660 11,660 - - Loans receivable, net 954,120 984,270 - - 984,270 Federal Home Loan Bank stock 3,918 3,918 - 3,918 - Interest rate swap agreements 3,638 3,638 - 3,638 - Accrued interest receivable 4,713 4,713 - 4,713 - Financial liabilities: Non-interest bearing deposits 241,620 241,620 241,620 - - Interest bearing deposits 1,060,719 1,061,294 775,891 285,403 - Repurchase agreements 13,711 13,713 11,976 1,737 - Borrowed funds 6,149 6,018 - 6,018 - Interest rate swap agreements 3,638 3,638 - 3,638 - Accrued interest payable 54 54 - 54 - December 31, 2019 Estimated Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 47,258 $ 47,258 $ 47,258 $ - $ - Certificates of deposit in other financial institutions 2,170 2,137 - 2,137 - Securities available-for-sale 277,219 277,219 9,670 266,473 1,076 Loans held-for-sale 6,091 6,204 6,204 - - Loans receivable, net 897,870 917,174 - - 917,174 Federal Home Loan Bank stock 3,912 3,912 - 3,912 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest receivable 4,029 4,029 - 4,029 - Financial liabilities: Non-interest bearing deposits 172,094 172,094 172,094 - - Interest bearing deposits 982,276 982,241 654,573 327,668 - Repurchase agreements 11,499 11,499 9,721 1,778 - Borrowed funds 14,000 14,108 - 14,108 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest payable 179 179 - 179 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended December 31, 2020 2019: Cash and cash equivalent carrying amounts approximate fair value. Certificates of deposits in other financial institutions carrying amounts approximate fair value (Level 2 2 third 3 1 3 third 2 Non-interest and interest bearing deposits, which include checking, savings, and money market deposits, are estimated to have fair values based on the amount payable as of the reporting date (Level 1 2 1 three 2 1 2 not |
Note 19 - Parent Company Only S
Note 19 - Parent Company Only Statements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 19 Parent Company Only Statements (Dollars in thousands) NorthWest Indiana Bancorp Condensed Balance Sheets December 31, December 31, 2020 2019 Assets Cash on deposit with Peoples Bank $ 805 $ 191 Investment in Peoples Bank 150,928 132,134 Investment in NWIN Risk Management, Inc 1,775 1,736 Dividends receivable from Peoples Bank 1,070 1,070 Other assets 420 610 Total assets $ 154,998 $ 135,366 Liabilities and stockholders’ equity Dividends payable $ 1,074 $ 1,070 Other liabilities 1,002 569 Total liabilities 2,076 1,639 Additional paid in capital 29,987 29,657 Accumulated other comprehensive (loss) income 10,441 4,261 Retained earnings 112,494 100,184 Total stockholders’ equity 152,922 133,727 Total liabilities and stockholders’ equity $ 154,998 $ 135,366 (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Income Year Ended December 31, 2020 2019 Dividends from Peoples Bank $ 3,395 $ 19,388 Operating expenses 414 486 Income before income taxes and equity in undistributed income of Peoples Bank 2,981 18,902 Income tax benefit (86 ) (101 ) Income before equity in undistributed income of Peoples Bank 3,067 19,003 Equity in undistributed (distributions in excess of income) income of Peoples Bank 12,614 (7,889 ) income of NWIN Risk Management, Inc 923 983 Net income $ 16,604 $ 12,097 (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Cash Flows Year Ended December 31, 2020 2019 Cash flows from operating activities: Net income $ 16,604 $ 12,097 Adjustments to reconcile net income to net cash provided by operating activities Distributions in excess of income (equity in undistributed income): Peoples Bank (12,614 ) 7,889 NWIN Risk Management, Inc (923 ) (983 ) Stock based compensation expense 415 301 Net surrender value of restricted stock awards (85 ) (63 ) Change in other assets 190 (94 ) Change in other liabilities 433 (259 ) Total adjustments (12,584 ) 6,791 Net cash - operating activities 4,020 18,888 Cash flows from investing activities: Cash paid for acquisition - (15,743 ) Investment in Peoples Bank - (1,500 ) Distribution from NWIN Risk Management, Inc 885 1,750 Net cash - investing activities 885 (15,493 ) Cash flows from financing activities: Dividends paid (4,291 ) (4,085 ) Proceeds from issuance of common stock - - Net cash - financing activities (4,291 ) (4,085 ) Net change in cash 614 (690 ) Cash at beginning of year 191 881 Cash at end of year $ 805 $ 191 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation may |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk |
Description of Cash Flow Hedge Risk Management Policy | <i>Cash Flow Reporting</i> – For purposes of the statements of cash flows, the Bancorp considers cash on hand, noninterest bearing deposits in other financial institutions, all interest bearing deposits in other financial institutions with original maturities of <em style="font: inherit;">90</em> days or less, and federal funds sold to be cash and cash equivalents. The Bancorp reports net cash flows for customer loan and deposit transactions and short-term borrowings with maturities of <em style="font: inherit;">90</em> days or less.<i> </i></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><i> </i></p>" id="sjs-B7"><p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 18pt;"><i>Cash Flow Reporting</i> – For purposes of the statements of cash flows, the Bancorp considers cash on hand, noninterest bearing deposits in other financial institutions, all interest bearing deposits in other financial institutions with original maturities of <em style="font: inherit;">90</em> days or less, and federal funds sold to be cash and cash equivalents. The Bancorp reports net cash flows for customer loan and deposit transactions and short-term borrowings with maturities of <em style="font: inherit;">90</em> days or less.<i> </i></p> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"><i> </i></p> |
Certificates of Deposits in Other Financial Institutions [Policy Text Block] | Certificates of deposits in other financial institutions 5 |
Marketable Securities, Policy [Policy Text Block] | Securities may December 31, 2020, 2019, not The Bancorp considers the following factors when determining an other-than-temporary impairment for a security: the length of time and the extent to which the market value has been less than amortized cost; the financial condition and near-term prospects of the issuer; the underlying fundamentals of the relevant market and the outlook for such market for the near future; and an assessment of whether the Bancorp has ( 1 2 not |
Financing Receivable, Held-for-sale [Policy Text Block] | Loans Held-for-Sale Mortgage loans held-for-sale can be sold with servicing rights retained or released. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing rights. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. |
Loans and Loan Income [Policy Text Block] | Loans and Loan Interest Income 90 no 120 Generally, interest accrued but not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses may A loan is considered impaired when, based on current information and events, it is probable that the Bancorp will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not |
Troubled Debt Restructuring [Policy Text Block] | Troubled Debt Restructures not not On March 27, 2020, 4013 19 March 1, 2020 December 31, 2020 60 19 4013 December 27, 2020 January 1, 2022. not 30 December 31, 2019 December 31, 2020, 19 Some of the factors considered by management when determining whether a borrower is experiencing financial difficulties are: ( 1 2 3 |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock – may |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets 1 2 3 not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Real Estate, Policy [Policy Text Block] | Foreclosed Real Estate |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-term Assets may not |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangibles third may 350, |
Repurchase Agreements, Valuation, Policy [Policy Text Block] | Repurchase Agreements not |
Income Tax, Policy [Policy Text Block] | Income Taxes At December 31, 2020 2019, not not December 31, 2020 2019. |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments As part of mortgage banking operations, the Company enters into commitments to originate loans whereby the interest rate on these loans is determined prior to funding (“interest rate lock commitments”). Similar to loans held for sale, the fair value of rate lock commitments is subject to change primarily due to changes in interest rates. The interest rate lock commitments on mortgage loans intended to be sold are recorded at fair value with changes in fair value recorded in current earnings as part of gain on sale of loans held-for-sale, net. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share – |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income – |
Malpractice Loss Contingency, Policy [Policy Text Block] | Loss Contingencies not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restrictions on Cash $2.2 December 31, 2019. March 26, 2020, no December 31, 2020. not December 31, 2020 2019, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments |
Operating Segments [Policy Text Block] | Operating Segments not one |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification December 31, 2019, may December 31, 2020 |
Trust Assets [Policy Text Block] | Trust Assets not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Pronouncements – In January 2017, 2017 04, 350 2 2 2, No. 2017 04, 1 2 not No. 2017 04 zero 2 December 31, 2020, January 1, 2020. not not In March 2017, 2017 08, 310 20 not, December 31, 2019, January 1, 2019. not Upcoming Accounting Pronouncements - In June 2016, No. 2016 13, October 2019, December 15, 2022, December 31, 2023. first December 15, 2018, |
Note 2 - Acquisition Activity (
Note 2 - Acquisition Activity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
AJS Bancorp, Inc [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ASSETS Cash and due from banks $ 68,303 Investment securities, available for sale 3,432 Commercial 712 Residential mortgage 85,635 Multifamily 1,442 Consumer 57 Total Loans 87,846 Premises and equipment, net 3,542 FHLB stock 512 Goodwill 2,939 Core deposit intangible 2,917 Interest receivable 351 Other assets 8,939 Total assets purchased $ 178,781 Common shares issued 17,492 Cash paid 15,743 Total purchase price $ 33,235 LIABILITIES Deposits Non-interest bearing $ 24,502 NOW accounts 10,712 Savings and money market 68,875 Certificates of deposits 40,137 Total Deposits 144,226 Interest payable 50 Other liabilities 1,270 Total liabilities assumed $ 145,546 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2020 Money market fund $ 52,941 $ - $ - $ 52,941 U.S. government sponsored entities 7,881 3 (24 ) 7,860 Collateralized mortgage obligations and residential mortgage-backed securities 151,355 3,417 (36 ) 154,736 Municipal securities 183,103 11,102 (2 ) 194,203 Collateralized debt obligations 2,182 - (1,253 ) 929 Total securities available-for-sale $ 397,462 $ 14,522 $ (1,315 ) $ 410,669 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value December 31, 2019 Money market fund $ 9,670 $ - $ - $ 9,670 U.S. government sponsored entities 12,994 64 - 13,058 Collateralized mortgage obligations and residential mortgage-backed securities 149,339 1,745 (96 ) 150,988 Municipal securities 97,628 4,844 (45 ) 102,427 Collateralized debt obligations 2,202 - (1,126 ) 1,076 Total securities available-for-sale $ 271,833 $ 6,653 $ (1,267 ) $ 277,219 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent December 31, 2020 Value Yield (%) Due in one year or less $ 52,941 0.03 Due from one to five years 3,779 4.20 Due from five to ten years 23,344 2.67 Due over ten years 175,869 3.37 Collateralized mortgage obligations and residential mortgage-backed securities 154,736 1.87 Total $ 410,669 2.34 |
Schedule of Realized Gain (Loss) [Table Text Block] | (Dollars in thousands) December 31, December 31, 2020 2019 Proceeds $ 51,350 $ 37,939 Gross gains 2,407 888 Gross losses (59 ) (267 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized Ending balance, December 31, 2019 $ 4,261 Current period change 6,180 Ending balance, December 31, 2020 $ 10,441 |
Unrealized Gain (Loss) on Investments [Table Text Block] | (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2020 U.S. government sponsored entities $ 4,975 $ (24 ) $ - $ - $ 4,975 $ (24 ) Collateralized mortgage obligations and residential mortgage-backed securities 11,953 (36 ) - - 11,953 (36 ) Municipal securities 1,864 (2 ) - - 1,864 (2 ) Collateralized debt obligations - - 929 (1,253 ) 929 (1,253 ) Total temporarily impaired $ 18,792 $ (62 ) $ 929 $ (1,253 ) $ 19,721 $ (1,315 ) Number of securities 8 2 10 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2018 U.S. government sponsored entities $ - $ - $ - $ - $ - $ - Collateralized mortgage obligations and residential mortgage-backed securities 8,859 (31 ) 15,065 (65 ) 23,924 (96 ) Municipal securities 4,367 (45 ) - - 4,367 (45 ) Collateralized debt obligations - - 1,076 (1,126 ) 1,076 (1,126 ) Total temporarily impaired $ 13,226 $ (76 ) $ 16,141 $ (1,191 ) $ 29,367 $ (1,267 ) Number of securities 11 17 28 |
Note 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollars in thousands) December 31, 2020 December 31, 2019 Loans secured by real estate: Residential real estate $ 286,048 $ 299,569 Home equity 39,233 49,118 Commercial real estate 298,257 283,108 Construction and land development 93,562 87,710 Multifamily 50,571 51,286 Farmland 215 227 Total loans secured by real estate 767,886 771,018 Commercial business 158,140 103,222 Consumer 1,025 627 Manufactured homes 24,232 13,285 Government 10,142 15,804 Subtotal 961,425 903,956 Plus: Net deferred loan origination fees 5,303 2,934 Undisbursed loan funds (150 ) (21 ) Loans receivable $ 966,578 $ 906,869 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2020: Allowance for loan losses: Residential real estate $ 1,812 $ (2 ) $ 27 $ 374 $ 2,211 Home equity 223 - - 53 276 Commercial real estate 3,773 (80 ) - 1,713 5,406 Construction and land development 1,098 (17 ) - 324 1,405 Multifamily 529 - - 97 626 Farmland - - - - - Commercial business 1,504 (158 ) 17 1,145 2,508 Consumer 43 (29 ) 14 (2 ) 26 Manufactured homes - - - - - Government 17 - - (17 ) - Total $ 8,999 $ (286 ) $ 58 $ 3,687 $ 12,458 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2019: Allowance for loan losses: Residential real estate $ 1,715 $ (160 ) $ 29 $ 228 $ 1,812 Home equity 202 - - 21 223 Commercial real estate 3,335 (229 ) - 667 3,773 Construction and land development 756 - - 342 1,098 Multifamily 472 - - 57 529 Farmland - - - - - Commercial business 1,362 (1,178 ) 25 1,295 1,504 Consumer 82 (54 ) 20 (5 ) 43 Manufactured homes - - - - - Government 38 - - (21 ) 17 Total $ 7,962 $ (1,621 ) $ 74 $ 2,584 $ 8,999 |
Financing Receivable, Impairment Evaluation [Table Text Block] | Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Loans individually evaluated for impairment Purchased credit impaired loans individually evaluated for impairment Loans collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2020: Residential real estate $ 173 $ 2,038 $ 285,651 $ 868 $ 1,297 $ 283,486 Home equity 1 275 39,286 216 137 38,933 Commercial real estate 1,089 4,317 298,257 6,190 151 291,916 Construction and land development - 1,405 93,562 - - 93,562 Multifamily - 626 50,571 95 621 49,855 Farmland - - 215 - - 215 Commercial business 512 1,996 156,965 1,086 1,160 154,719 Consumer - 26 1,025 - - 1,025 Manufactured homes - - 30,904 - - 30,904 Government - - 10,142 - - 10,142 Total $ 1,775 $ 10,683 $ 966,578 $ 8,455 $ 3,366 $ 954,757 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2019: Residential real estate $ 10 $ 1,802 $ 299,333 $ 642 $ 1,581 $ 297,110 Home equity 4 219 49,181 221 216 48,744 Commercial real estate - 3,773 283,108 1,078 487 281,543 Construction and land development - 1,098 87,710 - - 87,710 Multifamily - 529 51,286 129 673 50,484 Farmland - - 227 - - 227 Commercial business 152 1,352 103,088 1,041 1,150 100,897 Consumer - 43 627 - - 627 Manufactured homes - - 16,505 - - 16,505 Government - 17 15,804 - - 15,804 Total $ 166 $ 8,833 $ 906,869 $ 3,111 $ 4,107 $ 899,651 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Exposure - Credit Risk Portfolio By Creditworthiness Category December 31, 2020 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 1,202 $ 116,631 $ 100,334 $ 15,753 $ 41,805 $ 3,539 $ 6,387 $ 285,651 Home equity 66 4,949 31,974 108 933 761 495 39,286 Commercial real estate - 1,847 70,062 150,983 55,202 11,983 8,180 298,257 Construction and land development - 4,282 31,612 41,961 12,055 3,652 - 93,562 Multifamily - 709 7,264 35,621 5,065 1,408 504 50,571 Farmland - - - - 215 - - 215 Commercial business 7,929 75,783 16,842 33,942 20,067 1,341 1,061 156,965 Consumer 510 1 514 - - - - 1,025 Manufactured homes 6,673 1,864 21,460 176 731 - - 30,904 Government - - 9,202 940 - - - 10,142 Total $ 16,380 $ 206,066 $ 289,264 $ 279,484 $ 136,073 $ 22,684 $ 16,627 $ 966,578 December 31, 2019 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 827 $ 119,138 $ 104,153 $ 13,463 $ 53,058 $ 4,203 $ 4,491 $ 299,333 Home equity 100 6,536 40,027 264 934 813 507 49,181 Commercial real estate - 2,030 82,158 135,058 56,917 5,380 1,565 283,108 Construction and land development... - 719 26,900 45,751 14,340 - - 87,710 Multifamily - 903 18,107 26,800 4,674 - 802 51,286 Farmland - - - - 227 - - 227 Commercial business 8,312 13,158 19,638 39,016 20,009 2,228 727 103,088 Consumer 90 - 537 - - - - 627 Manufactured homes 3,221 2,413 9,825 184 862 - - 16,505 Government - 1,889 11,505 2,410 - - - 15,804 Total $ 12,550 $ 146,786 $ 312,850 $ 262,946 $ 151,021 $ 12,624 $ 8,092 $ 906,869 |
Impaired Financing Receivables [Table Text Block] | For the twelve months ended As of December 31, 2020 December 31, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,895 $ 3,228 $ - $ 2,028 $ 115 Home equity 352 363 - 373 16 Commercial real estate 1,177 1,761 - 1,305 80 Construction and land development - - - - - Multifamily 716 798 - 763 42 Farmland - - - - Commercial business 1,497 1,514 - 1,591 80 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 270 $ 314 $ 173 $ 174 $ 6 Home equity 1 9 1 5 - Commercial real estate 5,164 5,164 1,089 2,109 16 Construction and land development - - - - - Multifamily - - - - - Farmland - - - - Commercial business 749 749 512 739 30 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,165 $ 3,542 $ 173 $ 2,202 $ 121 Home equity $ 353 $ 372 $ 1 $ 378 $ 16 Commercial real estate $ 6,341 $ 6,925 $ 1,089 $ 3,414 $ 96 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 716 $ 798 $ - $ 763 $ 42 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,246 $ 2,263 $ 512 $ 2,330 $ 110 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the twelve months ended As of December 31, 2019 December 31, 2019 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 2,140 $ 3,555 $ - $ 1,960 $ 85 Home equity 429 451 - 380 10 Commercial real estate 1,547 2,141 - 1,578 52 Construction & land development - - - - - Multifamily 802 884 - 581 20 Farmland - - - - - Commercial business 1,814 1,906 - 1,909 81 Consumer - - - - - Manufactured homes - - - - - Government - - - - - With an allowance recorded: Residential real estate $ 83 $ 83 $ 10 $ 143 $ 3 Home equity 8 8 4 50 - Commercial real estate 18 18 - 382 - Construction & land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 377 377 152 513 4 Consumer - - - - - Manufactured homes - - - - - Government - - - - - Total: Residential real estate $ 2,223 $ 3,638 $ 10 $ 2,103 $ 88 Home equity $ 437 $ 459 $ 4 $ 430 $ 10 Commercial real estate $ 1,565 $ 2,159 $ - $ 1,960 $ 52 Construction & land development $ - $ - $ - $ - $ - Multifamily $ 802 $ 884 $ - $ 581 $ 20 Farmland $ - $ - $ - $ - $ - Commercial business $ 2,191 $ 2,283 $ 152 $ 2,422 $ 85 Consumer $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - |
Financing Receivable, Past Due [Table Text Block] | The Bancorp's age analysis of past due loans is summarized below: (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Recorded Investments Greater than 90 Days Past Due and Accruing December 31, 2020 Residential real estate $ 2,797 $ 1,119 $ 4,875 $ 8,791 $ 276,860 $ 285,651 $ 80 Home equity 616 323 416 1,355 37,931 39,286 29 Commercial real estate 1,172 237 680 2,089 296,168 298,257 437 Construction and land development 471 - 20 491 93,071 93,562 20 Multifamily 94 266 150 510 50,061 50,571 - Farmland - - - - 215 215 - Commercial business 845 96 269 1,210 155,755 156,965 - Consumer 2 - - 2 1,023 1,025 - Manufactured homes 303 173 - 476 30,428 30,904 - Government 380 - - 380 9,762 10,142 - Total $ 6,680 $ 2,214 $ 6,410 $ 15,304 $ 951,274 $ 966,578 $ 566 December 31, 2019 Residential real estate $ 3,486 $ 1,332 $ 3,724 $ 8,542 $ 290,791 $ 299,333 $ 452 Home equity 90 24 388 502 48,679 49,181 19 Commercial real estate 1,461 170 719 2,350 280,758 283,108 61 Construction and land development 143 289 - 432 87,278 87,710 - Multifamily 140 - 160 300 50,986 51,286 - Farmland - - - - 227 227 - Commercial business 926 583 870 2,379 100,709 103,088 288 Consumer - - - - 627 627 - Manufactured homes 63 36 46 145 16,360 16,505 46 Government - - - - 15,804 15,804 - Total $ 6,309 $ 2,434 $ 5,907 $ 14,650 $ 892,219 $ 906,869 $ 866 |
Financing Receivable, Nonaccrual [Table Text Block] | The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) December 31, December 31, 2020 2019 Residential real estate $ 6,390 $ 4,374 Home equity 476 473 Commercial real estate 5,390 658 Construction and land development. - - Multifamily 504 420 Farmland - - Commercial business 1,039 582 Consumer - - Manufactured homes - - Government - - Total $ 13,799 $ 6,507 |
Schedule of Accretable Yield from Financing Receivables [Table Text Block] | (dollars in thousands) First Personal 2019 $ 147 2020 99 (dollars in thousands) First Personal 2021 21 Total $ 21 Accretable yield, or income recorded for the twelve months ended December 31, is as follows: (dollars in thousands) First Federal Libery Savings First Personal AJSB Total 2019 $ 22 $ 42 $ 586 $ 1,174 $ 1,824 2020 - - 534 1,286 1,820 Accretable yield, or income expected to be recorded in the future is as follows: (dollars in thousands) First Personal AJ Smith Total 2021 $ 243 $ 536 $ 779 2022 243 536 779 2023 106 355 461 Total $ 592 $ 1,426 $ 2,018 |
Schedule of Financing Receivables Acquired Discount [Table Text Block] | (dollars in thousands) First Federal Libery Savings First Personal AJSB Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Residential real estate $ 1,062 59 $ 1,203 44 $ 948 56 $ 3,734 52 Home equity 44 29 5 29 51 50 141 32 Commercial real estate - - - - 208 56 8 9 Construction and land development - - - - 1 30 - - Multifamily - - - - 11 48 2 48 Consumer - - - - 146 50 1 5 Commercial business - - - - 348 24 - - Purchased credit impaired loans - - - - 424 32 - - Total $ 1,106 $ 1,208 $ 2,137 $ 3,886 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (Dollars in thousands) 2020 2019 Cost: Land $ 8,933 $ 8,936 Buildings and improvements 33,394 30,863 Furniture and equipment 18,066 16,904 Total cost 60,393 56,703 Less accumulated depreciation (29,608 ) (27,296 ) Premises and equipment, net $ 30,785 $ 29,407 |
Note 6 - Foreclosed Real Esta_2
Note 6 - Foreclosed Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | (Dollars in thousands) 2020 2019 Residential real estate $ 328 $ 957 Commercial real estate - 126 Commercial business 210 - Total $ 538 $ 1,083 |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | The annual amortization for the twelve months ended December 31, is as follows: (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total 2019 $ 12 $ 58 $ 475 $ 411 $ 545 2020 12 58 475 449 994 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The expected future annual amortization for the twelve months ended December 31, as follows: (dollars in thousands) First Federal Liberty Savings First Personal AJ Smith Total 2021 12 58 475 449 994 2022 1 58 475 449 983 2023 - 38 475 449 962 2024 - - 470 449 919 2025 - - - 261 261 Total $ 13 $ 154 $ 1,895 $ 2,057 $ 4,119 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (Dollars in thousands) 2020 2019 Federal: Current $ 2,202 $ 587 Deferred (17 ) 755 State: Deferred, net of valuation allowance 707 417 Income tax expense $ 2,892 $ 1,759 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (Dollars in thousands) 2020 2019 Federal statutory rate 21 % 21 % Tax expense at statutory rate $ 4,094 $ 2,909 State tax, net of federal effect 559 335 Tax exempt income (887 ) (704 ) Bank owned life insurance (149 ) (187 ) Captive insurance (188 ) (197 ) Tax credit investments (415 ) (392 ) Non-deductible transaction costs - 58 Other (122 ) (63 ) Total income tax expense $ 2,892 $ 1,759 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (Dollars in thousands) 2020 2019 Deferred tax assets: Bad debts $ 3,090 $ 2,182 Deferred compensation 343 337 Net operating loss 2,553 3,218 Tax credits 70 183 Nonaccrual loan interest income 206 162 Share based compensation 256 202 REO writedowns 23 55 Unqualified deferred compensation plan 60 58 Other-than-temporary impairment 39 40 Accrued vacation 75 35 Impairment on land - 49 Other 84 93 Total deferred tax assets 6,799 6,614 Deferred tax liabilities: Depreciation (1,147 ) (1,067 ) Prepaids (443 ) (368 ) Mortgage servicing rights (163 ) (49 ) Deferred stock dividends (100 ) (101 ) Deferred loan costs, net of fees (288 ) (93 ) Unrealized appreciation on securities available-for-sale, net (2,767 ) (1,126 ) Purchase accounting (492 ) (187 ) Partnership (280 ) (173 ) Other (116 ) (92 ) Total deferred tax liabilities (5,796 ) (3,256 ) Valuation allowance (22 ) (92 ) Net deferred tax asset $ 981 $ 3,266 |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | (Dollars in thousands) 2021 $ 252,894 2022 22,202 2023 7,201 2024 2,019 2025 401 Thereafter 111 Total $ 284,828 |
Note 10 - Borrowed Funds (Table
Note 10 - Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Federal Home Loan Bank Advances Borrowed Funds [Table Text Block] | (Dollars in thousands) 2020 2019 Fixed rate advances from the FHLB $ 6,000 $ 14,000 Other 149 - Total $ 6,149 $ 14,000 |
Schedule of Federal Home Loan Bank Advances Rolling Maturity [Table Text Block] | (Dollars in thousands) 2021 $ 6,000 Total $ 6,000 |
Schedule of Federal Home Loan Bank Advances Activity for Year Table Text Block] | (Dollars in thousands) 2020 2019 Ending balance $ 13,711 $ 11,499 Average balance during the year 16,975 12,928 Maximum month-end balance during the year 21,100 20,628 Securities underlying the agreements at year end: Carrying value 23,860 16,961 Fair value 23,860 16,961 Average interest rate during the year 0.58 % 1.80 % Average interest rate at year end 0.32 % 1.51 % |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | (Dollars in thousands) 2020 2019 Fixed rate advances, maturing January 2021 through March 2021 at rates from 2.65% to 2.68%; average rate: 2020 – 2.66%; 2019 – 2.62 $ 6,000 $ 14,000 |
Note 12 - Regulatory Capital (T
Note 12 - Regulatory Capital (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 125.3 12.8 % $ 43.9 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 125.3 12.8 % $ 58.6 6.0 % N/A N/A Total capital to risk-weighted assets $ 137.5 14.0 % $ 78.1 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 125.3 8.5 % $ 59.2 4.0 % N/A N/A (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 110.8 11.8 % $ 42.4 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 110.8 11.8 % $ 56.5 6.0 % N/A N/A Total capital to risk-weighted assets $ 119.8 12.7 % $ 75.3 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 110.8 8.5 % $ 52.3 4.0 % N/A N/A (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 123.3 12.7 % $ 43.8 4.5 % $ 63.2 6.5 % Tier 1 capital to risk-weighted assets $ 123.3 12.7 % $ 58.4 6.0 % $ 77.8 8.0 % Total capital to risk-weighted assets $ 135.4 13.9 % $ 77.8 8.0 % $ 97.3 10.0 % Tier 1 capital to adjusted average assets $ 123.3 8.3 % $ 59.1 4.0 % $ 73.9 5.0 % (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 108.9 11.6 % $ 42.4 4.5 % $ 61.2 6.5 % Tier 1 capital to risk-weighted assets $ 108.9 11.6 % $ 56.5 6.0 % $ 75.3 8.0 % Total capital to risk-weighted assets $ 117.9 12.5 % $ 75.3 8.0 % $ 94.1 10.0 % Tier 1 capital to adjusted average assets $ 108.9 8.3 % $ 52.3 4.0 % $ 65.3 5.0 % |
Note 13 - Stock Based Compens_2
Note 13 - Stock Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Non-vested Shares Shares Weighted Non-vested at January 1, 2019 27,423 $ 32.58 Granted 7,407 43.00 Vested (4,625 ) 29.37 Forfeited - - Non-vested at December 31, 2019 30,205 $ 35.63 Non-vested at January 1, 2020 30,205 $ 35.63 Granted 13,243 44.30 Vested (6,400 ) 27.50 Forfeited (220 ) 43.65 Non-vested at December 31, 2020 36,828 $ 40.11 |
Note 14 - Earnings Per Common_2
Note 14 - Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2020 2019 Basic earnings per common share: Net income as reported $ 16,604 $ 12,097 Weighted average common shares outstanding 3,461,948 3,425,056 Basic earnings per common share $ 4.80 $ 3.53 Diluted earnings per common share: Net income as reported $ 16,604 $ 12,097 Weighted average common shares outstanding 3,461,948 3,425,056 Weighted average common and dilutive potential common shares outstanding 3,461,948 3,425,056 Diluted earnings per common share $ 4.80 $ 3.53 |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | (Dollars in thousands) Aggregate balance at the beginning of the year $ 4,021 New loans 1,042 Repayments (713 ) Aggregate balance at the end of the year $ 4,350 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Outstanding Commitments to Originate Loans [Table Text Block] | (Dollars in thousands) Fixed Variable Rate Rate Total December 31, 2020: Residential real estate $ 749 $ 21,961 $ 22,710 Home equity 44,972 7,951 52,923 Commercial real estate 2,955 13,138 16,093 Construction and land development 20,667 30,959 51,626 Multifamily 158 579 737 Consumer 23,020 - 23,020 Commercial business 946 56,744 57,690 Lot - 87 87 Total $ 93,467 $ 131,419 $ 224,886 December 31, 2019: Residential real estate $ 165 $ 10,377 $ 10,542 Home equity 40,429 8,841 49,270 Commercial real estate 5,890 11,537 17,427 Construction and land development 15,797 25,165 40,962 Multifamily 4,093 306 4,399 Consumer 21,677 - 21,677 Commercial business 1,161 52,879 54,040 Total $ 89,212 $ 109,105 $ 198,317 |
Note 17 - Derivative Financia_2
Note 17 - Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | December 31, 2020 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 72,707 Other assets $ 3,638 Other liabilties $ 3,638 Interest rate lock commitments 26,443 Other assets 374 N/A - Total $ 99,150 $ 4,012 $ 3,638 December 31, 2019 Notational or Asset derivatives Liability derivatives (Dollars in thousands) contractual amount Statement of Financial Condition classification Fair value Statement of Financial Condition classification Fair value Interest rate swap contracts $ 29,466 Other assets $ 1,358 Other liabilties $ 1,358 Interest rate lock commitments 12,822 Other assets 186 N/A - Total $ 42,288 $ 1,544 $ 1,358 Year-ended (Dollars in thousands) Statement of Income Classification 2020 2019 Interest rate swap contracts Fees and service charges $ 800 $ 371 Interest rate lock commitments Gain on sale of loans held-for-sale, net 187 186 Total $ 987 $ 557 |
Offsetting Assets [Table Text Block] | Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Assets Presented Cash Collateral (Dollars in thousands) Recognized Assets Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Received Net Amount December 31, 2020 Interest rate swap contracts $ 3,638 $ - $ 3,638 $ - $ - $ 3,638 Interest rate lock commitments 374 - 374 - - 374 Total $ 4,012 $ - $ 4,012 $ - $ - $ 4,012 Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Liabilities Presented Cash Collateral (Dollars in thousands) Recognized Liabilities Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Received Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ - $ 1,358 Interest rate lock commitments 186 - 186 - - 186 Total $ 1,544 $ - $ 1,544 $ - $ - $ 1,544 |
Offsetting Liabilities [Table Text Block] | Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Liabilities Presented Cash Collateral (Dollars in thousands) Recognized Liabilities Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Pledged Net Amount December 31, 2020 Interest rate swap contracts $ 3,638 $ - $ 3,638 $ - $ 3,930 $ (292 ) Total $ 3,638 $ - $ 3,638 $ - $ 3,930 $ (292 ) Gross Amounts not Offset in the Statement of Financial Condition Gross Amounts of Gross Amounts Offset in the Net Amounts of Liabilities Presented Cash Collateral (Dollars in thousands) Recognized Liabilities Statement of Financial Condition in the Statement of Financial Condition Financial Instruments Pledged Net Amount December 31, 2019 Interest rate swap contracts $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) Total $ 1,358 $ - $ 1,358 $ - $ 2,290 $ (932 ) |
Note 18 - Fair Values of Fina_2
Note 18 - Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2019 $ 173 Additions not previously recognized - Ending balance, December 31, 2020 $ 173 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (Dollars in thousands) Fair Value Measurements at December 31, 2020 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available-for-sale debt securities: Money market fund $ 52,941 $ 52,941 $ - $ - U.S. government sponsored entities 7,860 - 7,860 - Collateralized mortgage obligations and residential mortgage-backed securities 154,736 - 154,736 - Municipal securities 194,203 - 194,203 - Collateralized debt obligations 929 - - 929 Total securities available-for-sale $ 410,669 $ 52,941 $ 356,799 $ 929 (Dollars in thousands) Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Available-for-sale debt securities: Money market fund $ 9,670 $ 9,670 $ - $ - U.S. government sponsored entities 13,058 - 13,058 - Collateralized mortgage obligations and residential mortgage-backed securities 150,988 - 150,988 - Municipal securities 102,427 - 102,427 - Collateralized debt obligations 1,076 - - 1,076 Total securities available-for-sale $ 277,219 $ 9,670 $ 266,473 $ 1,076 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (Dollars in thousands) Estimated Fair Value Available-for- Beginning balance, January 1, 2019 $ 2,049 Principal payments (38 ) Total unrealized losses, included in other comprehensive income 52 Sale out of Level 3 (987 ) Ending balance, December 31, 2019 $ 1,076 Beginning balance, January 1, 2020 $ 1,076 Principal payments (20 ) Total unrealized gains, included in other comprehensive income (127 ) Sale out of Level 3 - Ending balance, December 31, 2020 $ 929 |
Fair Value Measurements, Nonrecurring [Table Text Block] | (Dollars in thousands) Fair Value Measurements at December 31, 2020 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 10,046 $ - $ - $ 10,046 Foreclosed real estate 538 - - 538 (Dollars in thousands) Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 7,052 $ - $ - $ 7,052 Foreclosed real estate 1,083 - - 1,083 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2020 Estimated Fair Value Measurements at December 31, 2020 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 19,922 $ 19,922 $ 19,922 $ - $ - Certificates of deposit in other financial institutions 1,897 1,868 - 1,868 - Securities available-for-sale 410,669 410,669 52,941 356,799 929 Loans held-for-sale 11,329 11,660 11,660 - - Loans receivable, net 954,120 984,270 - - 984,270 Federal Home Loan Bank stock 3,918 3,918 - 3,918 - Interest rate swap agreements 3,638 3,638 - 3,638 - Accrued interest receivable 4,713 4,713 - 4,713 - Financial liabilities: Non-interest bearing deposits 241,620 241,620 241,620 - - Interest bearing deposits 1,060,719 1,061,294 775,891 285,403 - Repurchase agreements 13,711 13,713 11,976 1,737 - Borrowed funds 6,149 6,018 - 6,018 - Interest rate swap agreements 3,638 3,638 - 3,638 - Accrued interest payable 54 54 - 54 - December 31, 2019 Estimated Fair Value Measurements at December 31, 2019 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 47,258 $ 47,258 $ 47,258 $ - $ - Certificates of deposit in other financial institutions 2,170 2,137 - 2,137 - Securities available-for-sale 277,219 277,219 9,670 266,473 1,076 Loans held-for-sale 6,091 6,204 6,204 - - Loans receivable, net 897,870 917,174 - - 917,174 Federal Home Loan Bank stock 3,912 3,912 - 3,912 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest receivable 4,029 4,029 - 4,029 - Financial liabilities: Non-interest bearing deposits 172,094 172,094 172,094 - - Interest bearing deposits 982,276 982,241 654,573 327,668 - Repurchase agreements 11,499 11,499 9,721 1,778 - Borrowed funds 14,000 14,108 - 14,108 - Interest rate swap agreements 1,358 1,358 - 1,358 - Accrued interest payable 179 179 - 179 - |
Note 19 - Parent Company Only_2
Note 19 - Parent Company Only Statements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | (Dollars in thousands) NorthWest Indiana Bancorp Condensed Balance Sheets December 31, December 31, 2020 2019 Assets Cash on deposit with Peoples Bank $ 805 $ 191 Investment in Peoples Bank 150,928 132,134 Investment in NWIN Risk Management, Inc 1,775 1,736 Dividends receivable from Peoples Bank 1,070 1,070 Other assets 420 610 Total assets $ 154,998 $ 135,366 Liabilities and stockholders’ equity Dividends payable $ 1,074 $ 1,070 Other liabilities 1,002 569 Total liabilities 2,076 1,639 Additional paid in capital 29,987 29,657 Accumulated other comprehensive (loss) income 10,441 4,261 Retained earnings 112,494 100,184 Total stockholders’ equity 152,922 133,727 Total liabilities and stockholders’ equity $ 154,998 $ 135,366 |
Condensed Income Statement [Table Text Block] | (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Income Year Ended December 31, 2020 2019 Dividends from Peoples Bank $ 3,395 $ 19,388 Operating expenses 414 486 Income before income taxes and equity in undistributed income of Peoples Bank 2,981 18,902 Income tax benefit (86 ) (101 ) Income before equity in undistributed income of Peoples Bank 3,067 19,003 Equity in undistributed (distributions in excess of income) income of Peoples Bank 12,614 (7,889 ) income of NWIN Risk Management, Inc 923 983 Net income $ 16,604 $ 12,097 |
Condensed Cash Flow Statement [Table Text Block] | (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Cash Flows Year Ended December 31, 2020 2019 Cash flows from operating activities: Net income $ 16,604 $ 12,097 Adjustments to reconcile net income to net cash provided by operating activities Distributions in excess of income (equity in undistributed income): Peoples Bank (12,614 ) 7,889 NWIN Risk Management, Inc (923 ) (983 ) Stock based compensation expense 415 301 Net surrender value of restricted stock awards (85 ) (63 ) Change in other assets 190 (94 ) Change in other liabilities 433 (259 ) Total adjustments (12,584 ) 6,791 Net cash - operating activities 4,020 18,888 Cash flows from investing activities: Cash paid for acquisition - (15,743 ) Investment in Peoples Bank - (1,500 ) Distribution from NWIN Risk Management, Inc 885 1,750 Net cash - investing activities 885 (15,493 ) Cash flows from financing activities: Dividends paid (4,291 ) (4,085 ) Proceeds from issuance of common stock - - Net cash - financing activities (4,291 ) (4,085 ) Net change in cash 614 (690 ) Cash at beginning of year 191 881 Cash at end of year $ 805 $ 191 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative [Member] | ||
Financial Instruments, Owned and Pledged as Collateral, at Fair Value | $ 3.9 | $ 2.3 |
Premises and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 15 years | |
Premises and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 39 years | |
Furniture and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 2 years | |
Furniture and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
SBA CARES Act Paycheck Protection Program [Member] | ||
Financing Receivable, Principal and Interest Deferred Payments | $ 14.9 |
Note 2 - Acquisition Activity_2
Note 2 - Acquisition Activity (Details Textual) - AJS Bancorp, Inc [Member] $ / shares in Units, $ in Thousands | Jan. 24, 2019USD ($)$ / sharesshares | Jan. 23, 2019USD ($) |
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Stockholders Holding 100 Shares or More (in shares) | 0.2030 | |
Business Acquisition, Cash Paid Per Share of Acquired Company, Stockholders Holding 100 or More Shares (in dollars per share) | $ / shares | $ 7.20 | |
Business Acquisition, Cash Paid Per Share of Acquired Company, Holding Less Than 100 Shares (in dollars per share) | $ / shares | $ 16 | |
Business Acquisition, Number of Shares Given Per Share of Acquired Company, Less Than 100 Shares (in shares) | 0 | |
Business Acquisition, Fractional Shares Multiplier (in dollars per share) | $ / shares | $ 43.01 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 416,478 | |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ | $ 15,700 | |
Business Combination, Consideration Transferred, Total | $ | $ 33,235 | 33,200 |
Business Acquisition, Transaction Costs | $ | $ 2,100 | |
Number of Banking Centers | 22 | |
Maximum [Member] | ||
Business Acquisition, Number of Held Shares of Acquired Company (in shares) | 100 |
Note 2 - Acquisition Activity -
Note 2 - Acquisition Activity - Fair Value of Tangible and Intangible Assets Acquired and Liabilities Assumed From AJSB (Details) - USD ($) $ in Thousands | Jan. 24, 2019 | Jan. 23, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill | $ 11,109 | $ 11,109 | ||
AJS Bancorp, Inc [Member] | ||||
Cash and due from banks | $ 68,303 | |||
Investment securities, available for sale | 3,432 | |||
Total Loans | 87,846 | |||
Premises and equipment, net | 3,542 | |||
FHLB stock | 512 | |||
Goodwill | 2,939 | $ 2,900 | ||
Core deposit intangible | 2,917 | |||
Interest receivable | 351 | |||
Other assets | 8,939 | |||
Total assets purchased | 178,781 | |||
Common shares issued | 17,492 | |||
Cash paid | 15,743 | |||
Total purchase price | 33,235 | $ 33,200 | ||
Total Deposits | 144,226 | |||
Interest payable | 50 | |||
Other liabilities | 1,270 | |||
Total liabilities assumed | 145,546 | |||
AJS Bancorp, Inc [Member] | Non-interest Bearing Deposit Liability [Member] | ||||
Total Deposits | 24,502 | |||
AJS Bancorp, Inc [Member] | Commercial Loan [Member] | ||||
Total Loans | 712 | |||
AJS Bancorp, Inc [Member] | NOW Accounts [Member] | ||||
Total Deposits | 10,712 | |||
AJS Bancorp, Inc [Member] | Residential Mortgage [Member] | ||||
Total Loans | 85,635 | |||
AJS Bancorp, Inc [Member] | Savings and Money Market Deposit Liability [Member] | ||||
Total Deposits | 68,875 | |||
AJS Bancorp, Inc [Member] | Multifamily Loan [Member] | ||||
Total Loans | 1,442 | |||
AJS Bancorp, Inc [Member] | Certificates of Deposit Liability [Member] | ||||
Total Deposits | 40,137 | |||
AJS Bancorp, Inc [Member] | Consumer Loan [Member] | ||||
Total Loans | $ 57 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | $ 493 | $ 130 |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 52.4 | $ 65.5 |
Note 3 - Securities - Available
Note 3 - Securities - Available for Sale Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Available for sale securities, cost basis | $ 397,462 | $ 271,833 |
Available for sale securities, gross unrealized gains | 14,522 | 6,653 |
Available for sale securities, gross unrealized losses | (1,315) | (1,267) |
Securities available-for-sale | 410,669 | 277,219 |
Available for sale securities, cost basis | 397,462 | 271,833 |
Securities available-for-sale | 410,669 | 277,219 |
Money Market Funds [Member] | ||
Available for sale securities, cost basis | 52,941 | 9,670 |
Available for sale securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | 0 | 0 |
Securities available-for-sale | 52,941 | 9,670 |
Available for sale securities, cost basis | 52,941 | 9,670 |
Securities available-for-sale | 52,941 | 9,670 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for sale securities, cost basis | 7,881 | |
Available for sale securities, gross unrealized gains | 3 | |
Available for sale securities, gross unrealized losses | (24) | |
Securities available-for-sale | 7,860 | |
Available for sale securities, cost basis | 7,881 | |
Securities available-for-sale | 7,860 | |
US Treasury Securities [Member] | ||
Available for sale securities, cost basis | 12,994 | |
Available for sale securities, gross unrealized gains | 64 | |
Available for sale securities, gross unrealized losses | 0 | |
Securities available-for-sale | 13,058 | |
Available for sale securities, cost basis | 12,994 | |
Securities available-for-sale | 13,058 | |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Available for sale securities, cost basis | 151,355 | 149,339 |
Available for sale securities, gross unrealized gains | 3,417 | 1,745 |
Available for sale securities, gross unrealized losses | (36) | (96) |
Securities available-for-sale | 154,736 | 150,988 |
Available for sale securities, cost basis | 151,355 | 149,339 |
Securities available-for-sale | 154,736 | 150,988 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, cost basis | 183,103 | 97,628 |
Available for sale securities, gross unrealized gains | 11,102 | 4,844 |
Available for sale securities, gross unrealized losses | (2) | (45) |
Securities available-for-sale | 194,203 | 102,427 |
Available for sale securities, cost basis | 183,103 | 97,628 |
Securities available-for-sale | 194,203 | 102,427 |
Collateralized Debt Obligations [Member] | ||
Available for sale securities, cost basis | 2,182 | 2,202 |
Available for sale securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (1,253) | (1,126) |
Securities available-for-sale | 929 | 1,076 |
Available for sale securities, cost basis | 2,182 | 2,202 |
Securities available-for-sale | $ 929 | $ 1,076 |
Note 3 - Securities - Estimated
Note 3 - Securities - Estimated Fair Value of Available for Sale Securities, by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Available for sale securities, due in one year or less, estimated fair value | $ 52,941 | |
Available for sale securities, due in one year or less, tax-equivalent yield | 0.03% | |
Available for sale securities, due from one to five years, estimated fair value | $ 3,779 | |
Available for sale securities, due from one to five years, tax-equivalent yield | 4.20% | |
Available for sale securities, due from five to ten years, estimated fair value | $ 23,344 | |
Available for sale securities, due from five to ten years, tax-equivalent yield | 2.67% | |
Available for sale securities, due over ten years, estimated fair value | $ 175,869 | |
Available for sale securities, due over ten years, tax-equivalent yield | 3.37% | |
Collateralized mortgage obligations and residential mortgage-backed securities, estimated fair value | $ 154,736 | |
Collateralized mortgage obligations and residential mortgage-backed securities, tax-equivalent yield | 1.87% | |
Securities available-for-sale | $ 410,669 | $ 277,219 |
Available for sale securities, tax-equivalent yield | 2.34% |
Note 3 - Securities - Sales of
Note 3 - Securities - Sales of Available for Sale Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Proceeds | $ 51,350 | $ 37,939 |
Gross gains | 2,407 | 888 |
Gross losses | $ (59) | $ (267) |
Note 3 - Securities - Availab_2
Note 3 - Securities - Available for Sale Securities, Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Ending balance | $ 4,261 | |
Current period change | 6,180 | $ 7,057 |
Ending balance | $ 10,441 | $ 4,261 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities with Gross Unrealized Losses Not Recognized in Income (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Estimated fair value, less than 12 months | $ 18,792 | $ 13,226 |
Unrealized losses, less than 12 months | (62) | (76) |
Estimated fair value, 12 months or longer | 929 | 16,141 |
Unrealized losses, 12 months or longer | (1,253) | (1,191) |
Estimated fair value, total | 19,721 | 29,367 |
Unrealized losses, total | $ (1,315) | $ (1,267) |
Unrealized losses, less than 12 months, number of securities | 8 | 11 |
Unrealized losses, 12 months or longer, number of securities | 2 | 17 |
Unrealized losses, total, number of securities | 10 | 28 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Estimated fair value, less than 12 months | $ 4,975 | $ 0 |
Unrealized losses, less than 12 months | (24) | 0 |
Estimated fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Estimated fair value, total | 4,975 | 0 |
Unrealized losses, total | (24) | 0 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Estimated fair value, less than 12 months | 11,953 | 8,859 |
Unrealized losses, less than 12 months | (36) | (31) |
Estimated fair value, 12 months or longer | 0 | 15,065 |
Unrealized losses, 12 months or longer | 0 | (65) |
Estimated fair value, total | 11,953 | 23,924 |
Unrealized losses, total | (36) | (96) |
US States and Political Subdivisions Debt Securities [Member] | ||
Estimated fair value, less than 12 months | 1,864 | 4,367 |
Unrealized losses, less than 12 months | (2) | (45) |
Estimated fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Estimated fair value, total | 1,864 | 4,367 |
Unrealized losses, total | (2) | (45) |
Collateralized Debt Obligations [Member] | ||
Estimated fair value, less than 12 months | 0 | 0 |
Unrealized losses, less than 12 months | 0 | 0 |
Estimated fair value, 12 months or longer | 929 | 1,076 |
Unrealized losses, 12 months or longer | (1,253) | (1,126) |
Estimated fair value, total | 929 | 1,076 |
Unrealized losses, total | $ (1,253) | $ (1,126) |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 5,303 | $ 2,934 |
Impaired Financing Receivable, Recorded Investment, Total | 11,800 | 7,200 |
First Personal Financial Corporation [Member] | ||
Receivable with Imputed Interest, Discount | 2,137 | |
Purchased Credit Impaired Loans [Member] | First Personal Financial Corporation [Member] | ||
Receivable with Imputed Interest, Discount | 424 | |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 5,400 | 6,300 |
Impaired Financing Receivable, Recorded Investment, Total | $ 3,400 | 4,100 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 22 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 275 | |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 2,263 | 2,283 |
Impaired Financing Receivable, Recorded Investment, Total | 2,246 | 2,191 |
Commercial Portfolio Segment [Member] | First Personal Financial Corporation [Member] | ||
Receivable with Imputed Interest, Discount | 348 | |
Manufactured Homes Portfolio Segment [Member] | ||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 3,800 | 1,900 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 0 | 0 |
Impaired Financing Receivable, Recorded Investment, Total | $ 0 | 0 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 50 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | 108 | |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 3,542 | 3,638 |
Impaired Financing Receivable, Recorded Investment, Total | 2,165 | 2,223 |
Residential Portfolio Segment [Member] | First Personal Financial Corporation [Member] | ||
Receivable with Imputed Interest, Discount | $ 948 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 108 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Troubled Debt Restructuring | $ 142 | |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 6,925 | 2,159 |
Impaired Financing Receivable, Recorded Investment, Total | 6,341 | $ 1,565 |
Commercial Real Estate Portfolio Segment [Member] | First Personal Financial Corporation [Member] | ||
Receivable with Imputed Interest, Discount | $ 208 | |
Home Equity Loan [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
SBA CARES Act Paycheck Protection Program [Member] | ||
Financing Receivable Loans Originated Amount | $ 91,500 | |
Loans and Leases Receivable, Deferred Income, Total | 3,500 | |
Financing Receivable, Processing Fee Recognized During Period | 1,200 | |
Financing Receivable, Principal and Interest Deferred Payments | 14,900 | |
SBA CARES Act Paycheck Protection Program [Member] | Substandard [Member] | ||
Loans and Leases Receivable, Gross, Total | 6,500 | |
SBA CARES Act Paycheck Protection Program [Member] | Special Mention [Member] | ||
Loans and Leases Receivable, Gross, Total | 5,200 | |
SBA CARES Act Paycheck Protection Program [Member] | Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross, Total | $ 67,200 |
Note 4 - Loans Receivable - Loa
Note 4 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Total loans secured by real estate | $ 767,886 | $ 771,018 |
Total loans | 961,425 | 903,956 |
Net deferred loan origination fees | 5,303 | 2,934 |
Undisbursed loan funds | (150) | (21) |
Loans receivable | 966,578 | 906,869 |
Residential Portfolio Segment [Member] | ||
Total loans secured by real estate | 286,048 | 299,569 |
Loans receivable | 285,651 | 299,333 |
Home Equity Portfolio Segment [Member] | ||
Total loans secured by real estate | 39,233 | 49,118 |
Loans receivable | 39,286 | 49,181 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans secured by real estate | 298,257 | 283,108 |
Loans receivable | 298,257 | 283,108 |
Construction and Land Development Portfolio Segment [Member] | ||
Total loans secured by real estate | 93,562 | 87,710 |
Loans receivable | 93,562 | 87,710 |
Multifamily Portfolio Segment [Member] | ||
Total loans secured by real estate | 50,571 | 51,286 |
Loans receivable | 50,571 | 51,286 |
Farmland Portfolio Segment [Member] | ||
Total loans secured by real estate | 215 | 227 |
Loans receivable | 215 | 227 |
Commercial Portfolio Segment [Member] | ||
Total loans | 158,140 | 103,222 |
Loans receivable | 156,965 | 103,088 |
Consumer Portfolio Segment [Member] | ||
Total loans | 1,025 | 627 |
Loans receivable | 1,025 | 627 |
Manufactured Homes Portfolio Segment [Member] | ||
Total loans | 24,232 | 13,285 |
Net deferred loan origination fees | 3,800 | 1,900 |
Loans receivable | 30,904 | 16,505 |
Government Portfolio Segment [Member] | ||
Total loans | 10,142 | 15,804 |
Loans receivable | $ 10,142 | $ 15,804 |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses, by Loan Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning Balance | $ 8,999 | $ 7,962 |
Charge-offs | (286) | (1,621) |
Recoveries | 58 | 74 |
Provisions | 3,687 | 2,584 |
Ending Balance | 12,458 | 8,999 |
Residential Portfolio Segment [Member] | ||
Beginning Balance | 1,812 | 1,715 |
Charge-offs | (2) | (160) |
Recoveries | 27 | 29 |
Provisions | 374 | 228 |
Ending Balance | 2,211 | 1,812 |
Home Equity Portfolio Segment [Member] | ||
Beginning Balance | 223 | 202 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 53 | 21 |
Ending Balance | 276 | 223 |
Commercial Real Estate Portfolio Segment [Member] | ||
Beginning Balance | 3,773 | 3,335 |
Charge-offs | (80) | (229) |
Recoveries | 0 | 0 |
Provisions | 1,713 | 667 |
Ending Balance | 5,406 | 3,773 |
Construction and Land Development Portfolio Segment [Member] | ||
Beginning Balance | 1,098 | 756 |
Charge-offs | (17) | 0 |
Recoveries | 0 | 0 |
Provisions | 324 | 342 |
Ending Balance | 1,405 | 1,098 |
Multifamily Portfolio Segment [Member] | ||
Beginning Balance | 529 | 472 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 97 | 57 |
Ending Balance | 626 | 529 |
Farmland Portfolio Segment [Member] | ||
Beginning Balance | 0 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 0 | 0 |
Ending Balance | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Beginning Balance | 1,504 | 1,362 |
Charge-offs | (158) | (1,178) |
Recoveries | 17 | 25 |
Provisions | 1,145 | 1,295 |
Ending Balance | 2,508 | 1,504 |
Consumer Portfolio Segment [Member] | ||
Beginning Balance | 43 | 82 |
Charge-offs | (29) | (54) |
Recoveries | 14 | 20 |
Provisions | (2) | (5) |
Ending Balance | 26 | 43 |
Manufactured Homes Portfolio Segment [Member] | ||
Beginning Balance | 0 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 0 | 0 |
Ending Balance | 0 | 0 |
Government Portfolio Segment [Member] | ||
Beginning Balance | 17 | 38 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | (17) | (21) |
Ending Balance | $ 0 | $ 17 |
Note 4 - Loans Receivable - Imp
Note 4 - Loans Receivable - Impairment Analysis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Allowance individually evaluated for impairment reserves | $ 1,775 | $ 166 |
Allowance collectively evaluated for impairment reserves | 10,683 | 8,833 |
Loans receivable | 966,578 | 906,869 |
Loans receivable individually evaluated for impairment | 8,455 | 3,111 |
Loans receivable purchased credit impaired individually evaluated for impairment | 3,366 | 4,107 |
Loans receivable collectively evaluated for impairment | 954,757 | 899,651 |
Residential Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 173 | 10 |
Allowance collectively evaluated for impairment reserves | 2,038 | 1,802 |
Loans receivable | 285,651 | 299,333 |
Loans receivable individually evaluated for impairment | 868 | 642 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,297 | 1,581 |
Loans receivable collectively evaluated for impairment | 283,486 | 297,110 |
Home Equity Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 1 | 4 |
Allowance collectively evaluated for impairment reserves | 275 | 219 |
Loans receivable | 39,286 | 49,181 |
Loans receivable individually evaluated for impairment | 216 | 221 |
Loans receivable purchased credit impaired individually evaluated for impairment | 137 | 216 |
Loans receivable collectively evaluated for impairment | 38,933 | 48,744 |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 1,089 | 0 |
Allowance collectively evaluated for impairment reserves | 4,317 | 3,773 |
Loans receivable | 298,257 | 283,108 |
Loans receivable individually evaluated for impairment | 6,190 | 1,078 |
Loans receivable purchased credit impaired individually evaluated for impairment | 151 | 487 |
Loans receivable collectively evaluated for impairment | 291,916 | 281,543 |
Construction and Land Development Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 1,405 | 1,098 |
Loans receivable | 93,562 | 87,710 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 93,562 | 87,710 |
Multifamily Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 626 | 529 |
Loans receivable | 50,571 | 51,286 |
Loans receivable individually evaluated for impairment | 95 | 129 |
Loans receivable purchased credit impaired individually evaluated for impairment | 621 | 673 |
Loans receivable collectively evaluated for impairment | 49,855 | 50,484 |
Farmland Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans receivable | 215 | 227 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 215 | 227 |
Commercial Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 512 | 152 |
Allowance collectively evaluated for impairment reserves | 1,996 | 1,352 |
Loans receivable | 156,965 | 103,088 |
Loans receivable individually evaluated for impairment | 1,086 | 1,041 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,160 | 1,150 |
Loans receivable collectively evaluated for impairment | 154,719 | 100,897 |
Consumer Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 26 | 43 |
Loans receivable | 1,025 | 627 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 1,025 | 627 |
Manufactured Homes Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans receivable | 30,904 | 16,505 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | 30,904 | 16,505 |
Government Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 17 |
Loans receivable | 10,142 | 15,804 |
Loans receivable individually evaluated for impairment | 0 | 0 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 0 |
Loans receivable collectively evaluated for impairment | $ 10,142 | $ 15,804 |
Note 4 - Loans Receivable - Cre
Note 4 - Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loan Receivable | $ 966,578 | $ 906,869 |
Moderate [Member] | ||
Loan Receivable | 16,380 | 12,550 |
Above Average Acceptable [Member] | ||
Loan Receivable | 206,066 | 146,786 |
Acceptable [Member] | ||
Loan Receivable | 289,264 | 312,850 |
Marginally Acceptable [Member] | ||
Loan Receivable | 279,484 | 262,946 |
Pass [Member] | ||
Loan Receivable | 136,073 | 151,021 |
Special Mention [Member] | ||
Loan Receivable | 22,684 | 12,624 |
Substandard [Member] | ||
Loan Receivable | 16,627 | 8,092 |
Residential Portfolio Segment [Member] | ||
Loan Receivable | 285,651 | 299,333 |
Residential Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 1,202 | 827 |
Residential Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 116,631 | 119,138 |
Residential Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 100,334 | 104,153 |
Residential Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 15,753 | 13,463 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 41,805 | 53,058 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 3,539 | 4,203 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 6,387 | 4,491 |
Home Equity Portfolio Segment [Member] | ||
Loan Receivable | 39,286 | 49,181 |
Home Equity Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 66 | 100 |
Home Equity Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 4,949 | 6,536 |
Home Equity Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 31,974 | 40,027 |
Home Equity Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 108 | 264 |
Home Equity Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 933 | 934 |
Home Equity Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 761 | 813 |
Home Equity Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 495 | 507 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan Receivable | 298,257 | 283,108 |
Commercial Real Estate Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 1,847 | 2,030 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 70,062 | 82,158 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 150,983 | 135,058 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 55,202 | 56,917 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 11,983 | 5,380 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 8,180 | 1,565 |
Construction and Land Development Portfolio Segment [Member] | ||
Loan Receivable | 93,562 | 87,710 |
Construction and Land Development Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 4,282 | 719 |
Construction and Land Development Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 31,612 | 26,900 |
Construction and Land Development Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 41,961 | 45,751 |
Construction and Land Development Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 12,055 | 14,340 |
Construction and Land Development Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 3,652 | 0 |
Construction and Land Development Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Loan Receivable | 50,571 | 51,286 |
Multifamily Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Multifamily Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 709 | 903 |
Multifamily Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 7,264 | 18,107 |
Multifamily Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 35,621 | 26,800 |
Multifamily Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 5,065 | 4,674 |
Multifamily Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 1,408 | 0 |
Multifamily Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 504 | 802 |
Farmland Portfolio Segment [Member] | ||
Loan Receivable | 215 | 227 |
Farmland Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 215 | 227 |
Farmland Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loan Receivable | 156,965 | 103,088 |
Commercial Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 7,929 | 8,312 |
Commercial Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 75,783 | 13,158 |
Commercial Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 16,842 | 19,638 |
Commercial Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 33,942 | 39,016 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 20,067 | 20,009 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 1,341 | 2,228 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 1,061 | 727 |
Consumer Portfolio Segment [Member] | ||
Loan Receivable | 1,025 | 627 |
Consumer Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 510 | 90 |
Consumer Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 1 | 0 |
Consumer Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 514 | 537 |
Consumer Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
Loan Receivable | 30,904 | 16,505 |
Manufactured Homes Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 6,673 | 3,221 |
Manufactured Homes Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 1,864 | 2,413 |
Manufactured Homes Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 21,460 | 9,825 |
Manufactured Homes Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 176 | 184 |
Manufactured Homes Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 731 | 862 |
Manufactured Homes Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | ||
Loan Receivable | 10,142 | 15,804 |
Government Portfolio Segment [Member] | Moderate [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | Above Average Acceptable [Member] | ||
Loan Receivable | 0 | 1,889 |
Government Portfolio Segment [Member] | Acceptable [Member] | ||
Loan Receivable | 9,202 | 11,505 |
Government Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Loan Receivable | 940 | 2,410 |
Government Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | $ 0 | $ 0 |
Note 4 - Loans Receivable - Ind
Note 4 - Loans Receivable - Individually Evaluated Impaired Loans (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Impaired Financing Receivable, Related Allowance | $ 1,800,000 | $ 166,000 |
Total, recorded investment | 11,800,000 | 7,200,000 |
Total, related allowance | 1,800,000 | 166,000 |
Residential Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 1,895,000 | 2,140,000 |
With no related allowance recorded, unpaid principal balance | 3,228,000 | 3,555,000 |
With no related allowance recorded, average recorded investment | 2,028,000 | 1,960,000 |
With no related allowance recorded, interest income recognized | 115,000 | 85,000 |
With an allowance recorded, recorded investment | 270,000 | 83,000 |
With an allowance recorded, unpaid principal balance | 314,000 | 83,000 |
Impaired Financing Receivable, Related Allowance | 173,000 | 10,000 |
With an allowance recorded, average recorded investment | 174,000 | 143,000 |
With an allowance recorded, interest income recognized | 6,000 | 3,000 |
Total, recorded investment | 2,165,000 | 2,223,000 |
Total, unpaid principal balance | 3,542,000 | 3,638,000 |
Total, average recorded investment | 2,202,000 | 2,103,000 |
Total, interest income recognized | 121,000 | 88,000 |
Total, related allowance | 173,000 | 10,000 |
Home Equity Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 352,000 | 429,000 |
With no related allowance recorded, unpaid principal balance | 363,000 | 451,000 |
With no related allowance recorded, average recorded investment | 373,000 | 380,000 |
With no related allowance recorded, interest income recognized | 16,000 | 10,000 |
With an allowance recorded, recorded investment | 1,000 | 8,000 |
With an allowance recorded, unpaid principal balance | 9,000 | 8,000 |
Impaired Financing Receivable, Related Allowance | 1,000 | 4,000 |
With an allowance recorded, average recorded investment | 5,000 | 50,000 |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 353,000 | 437,000 |
Total, unpaid principal balance | 372,000 | 459,000 |
Total, average recorded investment | 378,000 | 430,000 |
Total, interest income recognized | 16,000 | 10,000 |
Total, related allowance | 1,000 | 4,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 1,177,000 | 1,547,000 |
With no related allowance recorded, unpaid principal balance | 1,761,000 | 2,141,000 |
With no related allowance recorded, average recorded investment | 1,305,000 | 1,578,000 |
With no related allowance recorded, interest income recognized | 80,000 | 52,000 |
With an allowance recorded, recorded investment | 5,164,000 | 18,000 |
With an allowance recorded, unpaid principal balance | 5,164,000 | 18,000 |
Impaired Financing Receivable, Related Allowance | 1,089,000 | 0 |
With an allowance recorded, average recorded investment | 2,109,000 | 382,000 |
With an allowance recorded, interest income recognized | 16,000 | 0 |
Total, recorded investment | 6,341,000 | 1,565,000 |
Total, unpaid principal balance | 6,925,000 | 2,159,000 |
Total, average recorded investment | 3,414,000 | 1,960,000 |
Total, interest income recognized | 96,000 | 52,000 |
Total, related allowance | 1,089,000 | 0 |
Construction and Land Development Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 0 | 0 |
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, average recorded investment | 0 | 0 |
With no related allowance recorded, interest income recognized | 0 | 0 |
With an allowance recorded, recorded investment | 0 | 0 |
With an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
With an allowance recorded, average recorded investment | 0 | 0 |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 0 | 0 |
Total, unpaid principal balance | 0 | 0 |
Total, average recorded investment | 0 | 0 |
Total, interest income recognized | 0 | 0 |
Total, related allowance | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 716,000 | 802,000 |
With no related allowance recorded, unpaid principal balance | 798,000 | 884,000 |
With no related allowance recorded, average recorded investment | 763,000 | 581,000 |
With no related allowance recorded, interest income recognized | 42,000 | 20,000 |
With an allowance recorded, recorded investment | 0 | 0 |
With an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
With an allowance recorded, average recorded investment | 0 | 0 |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 716,000 | 802,000 |
Total, unpaid principal balance | 798,000 | 884,000 |
Total, average recorded investment | 763,000 | 581,000 |
Total, interest income recognized | 42,000 | 20,000 |
Total, related allowance | 0 | 0 |
Farmland Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 0 | 0 |
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, average recorded investment | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 |
With an allowance recorded, recorded investment | 0 | 0 |
With an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
With an allowance recorded, average recorded investment | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 0 | 0 |
Total, unpaid principal balance | 0 | 0 |
Total, average recorded investment | 0 | 0 |
Total, interest income recognized | 0 | 0 |
Total, related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 1,497,000 | 1,814,000 |
With no related allowance recorded, unpaid principal balance | 1,514,000 | 1,906,000 |
With no related allowance recorded, average recorded investment | 1,591,000 | 1,909,000 |
With no related allowance recorded, interest income recognized | 80,000 | 81,000 |
With an allowance recorded, recorded investment | 749,000 | 377,000 |
With an allowance recorded, unpaid principal balance | 749,000 | 377,000 |
Impaired Financing Receivable, Related Allowance | 512,000 | 152,000 |
With an allowance recorded, average recorded investment | 739,000 | 513,000 |
With an allowance recorded, interest income recognized | 30,000 | 4,000 |
Total, recorded investment | 2,246,000 | 2,191,000 |
Total, unpaid principal balance | 2,263,000 | 2,283,000 |
Total, average recorded investment | 2,330,000 | 2,422,000 |
Total, interest income recognized | 110,000 | 85,000 |
Total, related allowance | 512,000 | 152,000 |
Consumer Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 0 | 0 |
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, average recorded investment | 0 | 0 |
With no related allowance recorded, interest income recognized | 0 | 0 |
With an allowance recorded, recorded investment | 0 | 0 |
With an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
With an allowance recorded, average recorded investment | 0 | 0 |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 0 | 0 |
Total, unpaid principal balance | 0 | 0 |
Total, average recorded investment | 0 | 0 |
Total, interest income recognized | 0 | 0 |
Total, related allowance | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 0 | 0 |
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, average recorded investment | 0 | 0 |
With no related allowance recorded, interest income recognized | 0 | 0 |
With an allowance recorded, recorded investment | 0 | 0 |
With an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
With an allowance recorded, average recorded investment | 0 | 0 |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 0 | 0 |
Total, unpaid principal balance | 0 | 0 |
Total, average recorded investment | 0 | 0 |
Total, interest income recognized | 0 | 0 |
Total, related allowance | 0 | 0 |
Government Portfolio Segment [Member] | ||
With no related allowance recorded, recorded investment | 0 | 0 |
With no related allowance recorded, unpaid principal balance | 0 | 0 |
With no related allowance recorded, average recorded investment | 0 | 0 |
With no related allowance recorded, interest income recognized | 0 | 0 |
With an allowance recorded, recorded investment | 0 | 0 |
With an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
With an allowance recorded, average recorded investment | 0 | 0 |
With an allowance recorded, interest income recognized | 0 | 0 |
Total, recorded investment | 0 | 0 |
Total, unpaid principal balance | 0 | 0 |
Total, average recorded investment | 0 | 0 |
Total, interest income recognized | 0 | 0 |
Total, related allowance | $ 0 | $ 0 |
Note 4 - Loans Receivable - Age
Note 4 - Loans Receivable - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Total Past Due | $ 15,304 | $ 14,650 |
Current | 951,274 | 892,219 |
Total Loans | 966,578 | 906,869 |
Recorded investments greater than 90 past due and still accruing | 566 | 866 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 6,680 | 6,309 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 2,214 | 2,434 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 6,410 | 5,907 |
Residential Portfolio Segment [Member] | ||
Total Past Due | 8,791 | 8,542 |
Current | 276,860 | 290,791 |
Total Loans | 285,651 | 299,333 |
Recorded investments greater than 90 past due and still accruing | 80 | 452 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 2,797 | 3,486 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 1,119 | 1,332 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 4,875 | 3,724 |
Home Equity Portfolio Segment [Member] | ||
Total Past Due | 1,355 | 502 |
Current | 37,931 | 48,679 |
Total Loans | 39,286 | 49,181 |
Recorded investments greater than 90 past due and still accruing | 29 | 19 |
Home Equity Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 616 | 90 |
Home Equity Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 323 | 24 |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 416 | 388 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total Past Due | 2,089 | 2,350 |
Current | 296,168 | 280,758 |
Total Loans | 298,257 | 283,108 |
Recorded investments greater than 90 past due and still accruing | 437 | 61 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 1,172 | 1,461 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 237 | 170 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 680 | 719 |
Construction and Land Development Portfolio Segment [Member] | ||
Total Past Due | 491 | 432 |
Current | 93,071 | 87,278 |
Total Loans | 93,562 | 87,710 |
Recorded investments greater than 90 past due and still accruing | 20 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 471 | 143 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 289 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 20 | 0 |
Multifamily Portfolio Segment [Member] | ||
Total Past Due | 510 | 300 |
Current | 50,061 | 50,986 |
Total Loans | 50,571 | 51,286 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Multifamily Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 94 | 140 |
Multifamily Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 266 | 0 |
Multifamily Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 150 | 160 |
Farmland Portfolio Segment [Member] | ||
Total Past Due | 0 | 0 |
Current | 215 | 227 |
Total Loans | 215 | 227 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Total Past Due | 1,210 | 2,379 |
Current | 155,755 | 100,709 |
Total Loans | 156,965 | 103,088 |
Recorded investments greater than 90 past due and still accruing | 0 | 288 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 845 | 926 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 96 | 583 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 269 | 870 |
Consumer Portfolio Segment [Member] | ||
Total Past Due | 2 | 0 |
Current | 1,023 | 627 |
Total Loans | 1,025 | 627 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 2 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
Total Past Due | 476 | 145 |
Current | 30,428 | 16,360 |
Total Loans | 30,904 | 16,505 |
Recorded investments greater than 90 past due and still accruing | 0 | 46 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 303 | 63 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 173 | 36 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | 0 | 46 |
Government Portfolio Segment [Member] | ||
Total Past Due | 380 | 0 |
Current | 9,762 | 15,804 |
Total Loans | 10,142 | 15,804 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Past Due | 380 | 0 |
Government Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Past Due | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Past Due | $ 0 | $ 0 |
Note 4 - Loans Receivable - L_2
Note 4 - Loans Receivable - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financing receivables on nonaccrual status | $ 13,799 | $ 6,507 |
Residential Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 6,390 | 4,374 |
Home Equity Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 476 | 473 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 5,390 | 658 |
Construction and Land Development Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 504 | 420 |
Farmland Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 1,039 | 582 |
Consumer Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Government Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | $ 0 | $ 0 |
Note 4 - Loans Receivable - Acc
Note 4 - Loans Receivable - Accretable Yield (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
2018, accretable yield collected | $ 1,824 | |
2019, accretable yield collected | $ 1,820 | |
First Personal Financial Corporation [Member] | ||
2018, accretable yield collected | 586 | |
2019, accretable yield collected | 534 | |
2021 | 779 | |
Total | 2,018 | |
2021, to be collected | 779 | |
2023, to be collected | 461 | |
First Federal Savings and Loan [Member] | ||
2018, accretable yield collected | 22 | |
2019, accretable yield collected | 0 | |
2021 | 243 | |
Total | 592 | |
2021, to be collected | 243 | |
2023, to be collected | 106 | |
Liberty Savings Bank [Member] | ||
2018, accretable yield collected | 42 | |
2019, accretable yield collected | 0 | |
2021 | 536 | |
Total | 1,426 | |
2021, to be collected | 536 | |
2023, to be collected | 355 | |
AJS Bancorp, Inc [Member] | ||
2018, accretable yield collected | $ 1,174 | |
2019, accretable yield collected | 1,286 | |
Financial Asset Acquired with Credit Deterioration [Member] | First Personal Financial Corporation [Member] | ||
2018, accretable yield collected | 147 | |
2019, accretable yield collected | 99 | |
2021 | 21 | |
Total | $ 21 |
Note 4 - Loans Receivable - Net
Note 4 - Loans Receivable - Net Fair Value Discount on Loans Receivable Acquired (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
First Federal Savings and Loan [Member] | |
Net fair value discount | $ 1,106 |
First Federal Savings and Loan [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | 0 |
Liberty Savings Bank [Member] | |
Net fair value discount | 1,208 |
Liberty Savings Bank [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | 0 |
First Personal Financial Corporation [Member] | |
Net fair value discount | 2,137 |
First Personal Financial Corporation [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | $ 424 |
Accretable period in months (Month) | 32 months |
AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 3,886 |
AJS Bancorp, Inc [Member] | Purchased Credit Impaired Loans [Member] | |
Net fair value discount | 0 |
Residential Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 1,062 |
Accretable period in months (Month) | 59 months |
Residential Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | $ 1,203 |
Accretable period in months (Month) | 44 months |
Residential Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 948 |
Accretable period in months (Month) | 56 months |
Residential Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 3,734 |
Accretable period in months (Month) | 52 months |
Home Equity Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 44 |
Accretable period in months (Month) | 29 months |
Home Equity Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | $ 5 |
Accretable period in months (Month) | 29 months |
Home Equity Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 51 |
Accretable period in months (Month) | 50 months |
Home Equity Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 141 |
Accretable period in months (Month) | 32 months |
Commercial Real Estate Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Commercial Real Estate Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 208 |
Accretable period in months (Month) | 56 months |
Commercial Real Estate Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 8 |
Accretable period in months (Month) | 9 months |
Construction and Land Development Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Construction and Land Development Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Construction and Land Development Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 1 |
Accretable period in months (Month) | 30 months |
Construction and Land Development Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 0 |
Multifamily Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | 0 |
Multifamily Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Multifamily Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 11 |
Accretable period in months (Month) | 48 months |
Multifamily Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 2 |
Accretable period in months (Month) | 48 months |
Consumer Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Consumer Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Consumer Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 146 |
Accretable period in months (Month) | 50 months |
Consumer Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 1 |
Accretable period in months (Month) | 5 months |
Commercial Portfolio Segment [Member] | First Federal Savings and Loan [Member] | |
Net fair value discount | $ 0 |
Commercial Portfolio Segment [Member] | Liberty Savings Bank [Member] | |
Net fair value discount | 0 |
Commercial Portfolio Segment [Member] | First Personal Financial Corporation [Member] | |
Net fair value discount | $ 348 |
Accretable period in months (Month) | 24 months |
Commercial Portfolio Segment [Member] | AJS Bancorp, Inc [Member] | |
Net fair value discount | $ 0 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment, Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 2.3 | $ 1.9 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment, Net - Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Cost: | ||
Land | $ 8,933 | $ 8,936 |
Buildings and improvements | 33,394 | 30,863 |
Furniture and equipment | 18,066 | 16,904 |
Total cost | 60,393 | 56,703 |
Less accumulated depreciation | (29,608) | (27,296) |
Premises and equipment, net | $ 30,785 | $ 29,407 |
Note 6 - Foreclosed Real Esta_3
Note 6 - Foreclosed Real Estate - Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Foreclosed real estate | $ 538 | $ 1,083 |
Residential Portfolio Segment [Member] | ||
Foreclosed real estate | 328 | 957 |
Commercial Real Estate Portfolio Segment [Member] | ||
Foreclosed real estate | 0 | 126 |
Commercial Business [Member] | ||
Foreclosed real estate | $ 210 | $ 0 |
Note 7 - Goodwill and Other I_3
Note 7 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Jan. 24, 2019 | |
Goodwill, Ending Balance | $ 11,109 | $ 11,109 | |
Goodwill, Impairment Loss | 0 | ||
Amortization of Intangible Assets, Total | 994 | 545 | |
AJS Bancorp, Inc [Member] | |||
Goodwill, Ending Balance | 2,900 | $ 2,939 | |
Amortization of Intangible Assets, Total | 449 | 411 | |
Accretion (Amortization) of Discounts and Premiums, Investments | 34 | 140 | |
Certificates of Deposit, Fair Value Premium | $ 174 | ||
Certificates of Deposit, Fair Value Premium, Amortization Period (Month) | 14 months | ||
AJS Bancorp, Inc [Member] | Core Deposits [Member] | |||
Finite-Lived Core Deposits, Gross | $ 2,900 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 6 months | ||
First Personal Financial Corporation [Member] | |||
Goodwill, Ending Balance | $ 5,400 | ||
Amortization of Intangible Assets, Total | 475 | $ 475 | |
First Personal Financial Corporation [Member] | Loans Receivable [Member] | During 2019 [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 8 months | ||
Amortization of Intangible Assets, Total | $ 133 | ||
Accretion (Amortization) of Discounts and Premiums, Investments | 53 | ||
First Personal Financial Corporation [Member] | Core Deposits [Member] | |||
Finite-Lived Core Deposits, Gross | $ 3,000 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 4 months 24 days | ||
First Federal Savings and Loan [Member] | |||
Goodwill, Ending Balance | $ 2,000 | ||
Amortization of Intangible Assets, Total | 12 | 12 | |
First Federal Savings and Loan [Member] | Core Deposits [Member] | |||
Finite-Lived Core Deposits, Gross | $ 93 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 10 months 24 days | ||
Liberty Savings Bank [Member] | |||
Goodwill, Ending Balance | $ 804 | ||
Amortization of Intangible Assets, Total | 58 | $ 58 | |
Liberty Savings Bank [Member] | Core Deposits [Member] | |||
Finite-Lived Core Deposits, Gross | $ 471 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 8 years 2 months 12 days |
Note 7 - Goodwill and Other I_4
Note 7 - Goodwill and Other Intangible Assets - Annual Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Amortization of intangible assets | $ 994 | $ 545 |
First Federal Savings and Loan [Member] | ||
Amortization of intangible assets | 12 | 12 |
Liberty Savings Bank [Member] | ||
Amortization of intangible assets | 58 | 58 |
First Personal Financial Corporation [Member] | ||
Amortization of intangible assets | 475 | 475 |
AJS Bancorp, Inc [Member] | ||
Amortization of intangible assets | $ 449 | $ 411 |
Note 7 - Goodwill and Other I_5
Note 7 - Goodwill and Other Intangible Assets - Future Annual Amortization (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 994 |
2022 | 983 |
2023 | 962 |
2024 | 919 |
2025 | 261 |
Total | 4,119 |
First Federal Savings and Loan [Member] | |
2021 | 12 |
2022 | 1 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
Total | 13 |
Liberty Savings Bank [Member] | |
2021 | 58 |
2022 | 58 |
2023 | 38 |
2024 | 0 |
2025 | 0 |
Total | 154 |
First Personal Financial Corporation [Member] | |
2021 | 475 |
2022 | 475 |
2023 | 475 |
2024 | 470 |
2025 | 0 |
Total | 1,895 |
AJS Bancorp, Inc [Member] | |
2021 | 449 |
2022 | 449 |
2023 | 449 |
2024 | 449 |
2025 | 261 |
Total | $ 2,057 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | |
Deferred Tax Liabilities, Retained Earnings | $ 8,400 | ||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Bad Debt Reserve for Tax Purposes of Qualified Lender | 2,200 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | ||
State and Local Jurisdiction [Member] | Indiana Department of Revenue [Member] | |||
Operating Loss Carryforwards, Total | $ 1,100 | ||
Operating Loss Carryforwards, Date of Expiration | 2026 | ||
Tax Credit Carryforward, Amount | $ 88 | ||
Tax Credit Carryforward, Valuation Allowance | 22 | $ 92 | |
State and Local Jurisdiction [Member] | Illinois Department of Revenue [Member] | |||
Operating Loss Carryforwards, Total | 10,500 | ||
State and Local Jurisdiction [Member] | Illinois Department of Revenue [Member] | First Personal Financial Corporation [Member] | |||
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | $ 7,200 | ||
State and Local Jurisdiction [Member] | Illinois Department of Revenue [Member] | AJS Bancorp, Inc [Member] | |||
Operating Loss Carryforwards, Total | 11,400 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards, Total | $ 8,200 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | First Personal Financial Corporation [Member] | |||
Operating Loss Carryforwards, Total | 3,300 | ||
Operating Loss Carry Forwards Expires | 2,200 | ||
Operating Loss Carryforward, Not Subject To Expiration | 1,100 | ||
Limitaion on Use of Operating Losses | $ 362 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | AJS Bancorp, Inc [Member] | |||
Operating Loss Carryforwards, Total | 6,500 | ||
Operating Loss Carry Forwards Expires | 3,600 | ||
Operating Loss Carryforward, Not Subject To Expiration | 3,600 | ||
Limitaion on Use of Operating Losses | $ 825 |
Note 8 - Income Taxes - Income
Note 8 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Current | $ 2,202 | $ 587 |
Deferred | (17) | 755 |
Deferred, net of valuation allowance | 707 | 417 |
Total income tax expense | $ 2,892 | $ 1,759 |
Note 8 - Income Taxes - Effecti
Note 8 - Income Taxes - Effective Tax Rates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal statutory rate | 21.00% | 21.00% |
Tax expense at statutory rate | $ 4,094 | $ 2,909 |
State tax, net of federal effect | 559 | 335 |
Tax exempt income | (887) | (704) |
Bank owned life insurance | (149) | (187) |
Captive insurance | (188) | (197) |
Tax credit investments | (415) | (392) |
Non-deductible transaction costs | 0 | 58 |
Other | (122) | (63) |
Total income tax expense | $ 2,892 | $ 1,759 |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets: | ||
Bad debts | $ 3,090 | $ 2,182 |
Deferred compensation | 343 | 337 |
Net operating loss | 2,553 | 3,218 |
Tax credits | 70 | 183 |
Nonaccrual loan interest income | 206 | 162 |
Share based compensation | 256 | 202 |
REO writedowns | 23 | 55 |
Unqualified deferred compensation plan | 60 | 58 |
Other-than-temporary impairment | 39 | 40 |
Accrued vacation | 75 | 35 |
Impairment on land | 0 | 49 |
Other | 84 | 93 |
Total deferred tax assets | 6,799 | 6,614 |
Deferred tax liabilities: | ||
Depreciation | (1,147) | (1,067) |
Prepaids | (443) | (368) |
Mortgage servicing rights | (163) | (49) |
Deferred stock dividends | (100) | (101) |
Deferred loan costs, net of fees | (288) | (93) |
Unrealized appreciation on securities available-for-sale, net | (2,767) | (1,126) |
Purchase accounting | (492) | (187) |
Partnership | (280) | (173) |
Other | (116) | (92) |
Total deferred tax liabilities | (5,796) | (3,256) |
Valuation allowance | (22) | (92) |
Net deferred tax asset | $ 981 | $ 3,266 |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Time Deposits, at or Above FDIC Insurance Limit | $ 46.7 | $ 56.2 |
Note 9 - Deposits - Maturities
Note 9 - Deposits - Maturities of Certificates of Deposit (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 252,894 |
2022 | 22,202 |
2023 | 7,201 |
2024 | 2,019 |
2025 | 401 |
Thereafter | 111 |
Total | $ 284,828 |
Note 10 - Borrowed Funds (Detai
Note 10 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 506,400 | $ 340,000 |
Federal Funds Purchased | 149 | |
Other Borrowings | 0 | |
Federal Home Loan Bank Advances [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 25,000 | |
Long-term Line of Credit, Total | $ 0 | $ 0 |
Note 10 - Borrowed Funds- Borro
Note 10 - Borrowed Funds- Borrowed Funds (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Fixed rate advances from the FHLB | $ 6,000 | $ 14,000 |
Other | 149 | 0 |
Total | $ 6,149 | $ 14,000 |
Note 10 - Borrowed Funds- Sched
Note 10 - Borrowed Funds- Scheduled Maturities of Borrowed Funds (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 6,000 | |
Total | $ 6,149 | $ 14,000 |
Note 10 - Borrowed Funds - Reta
Note 10 - Borrowed Funds - Retail Repurchase Agreements (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Ending balance | $ 13,711 | $ 11,499 |
Average balance during the year | 16,975 | 12,928 |
Maximum month-end balance during the year | 21,100 | 20,628 |
Carrying value | 23,860 | 16,961 |
Fair value | $ 23,860 | $ 16,961 |
Average interest rate during the year | 0.58% | 1.80% |
Average interest rate at year end | 0.32% | 1.51% |
Note 10 - Borrowed Funds - Fede
Note 10 - Borrowed Funds - Federal Home Loan Bank Advances (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fixed rate advances from the FHLB | $ 6 | $ 14 |
Note 11 - Employees' Benefit _2
Note 11 - Employees' Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.50% | 7.00% |
Defined Contribution Plan, Cost | $ 948,000 | $ 884,000 |
Deferred Compensation Liability, Current and Noncurrent, Total | 235,000 | 226,000 |
Deferred Compensation Arrangement with Individual, Compensation Expense | 8,000 | 10,000 |
Deferred Costs, Total | 68,000 | 60,000 |
Deferred Fee Liability | $ 1,400 | $ 1,300 |
Two Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan, Funded Percentage | 40.00% | |
Three Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan, Funded Percentage | 60.00% | |
Four Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan, Funded Percentage | 80.00% | |
Five Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan, Funded Percentage | 100.00% | |
Minimum [Member] | ||
Defined Benefit Plan Employees Pre-tax Contributions | 1.00% | |
Maximum [Member] | ||
Defined Benefit Plan Employees Pre-tax Contributions | 50.00% |
Note 12 - Regulatory Capital (D
Note 12 - Regulatory Capital (Details Textual) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | |
Nov. 30, 2020$ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019$ / shares | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.075 | ||
Dividends To Be Declared, Restrictions Amount Added To Net Profit | $ | $ 4.7 | ||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares | $ 0.31 | $ 1.24 | $ 1.23 |
Note 12 - Regulatory Capital -
Note 12 - Regulatory Capital - Regulatory Capital Requirements (Details) $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Tier 1 capital to adjusted average assets, minimum required to be well capitalized, ratio | 0.075 | |
Parent Company [Member] | ||
Common equity tier 1 capital to risk-weighted assets, amount | $ 125.3 | $ 110.8 |
Common equity tier 1 capital to risk-weighted assets, ratio | 0.128 | 0.118 |
Common equity tier 1 capital to risk-weighted assets, required for capital adequacy purposes, amount | $ 43.9 | $ 42.4 |
Common equity tier 1 capital to risk-weighted assets, minimum required for capital adequacy purposes, ratio | 4.50% | 4.50% |
Tier 1 capital to risk-weighted assets, amount | $ 125.3 | $ 110.8 |
Tier 1 capital to risk-weighted assets, ratio | 0.128 | 0.118 |
Tier 1 capital to risk-weighted assets, required for capital adequacy purposes, amount | $ 58.6 | $ 56.5 |
Tier 1 capital to risk-weighted assets, minimum required for capital adequacy purposes, ratio | 0.060 | 0.060 |
Total capital to risk-weighted assets, amount | $ 137.5 | $ 119.8 |
Total capital to risk-weighted assets, ratio | 0.140 | 0.127 |
Total capital to risk-weighted assets, required for capital adequacy purposes, amount | $ 78.1 | $ 75.3 |
Total capital to risk-weighted assets, minimum required for capital adequacy purposes, ratio | 0.080 | 0.080 |
Tier 1 capital to adjusted average assets, amount | $ 125.3 | $ 110.8 |
Tier 1 capital to adjusted average assets, ratio | 0.085 | 0.085 |
Tier 1 capital to adjusted average assets, required for capital adequacy purposes, amount | $ 59.2 | $ 52.3 |
Tier 1 capital to adjusted average assets, minimum required for capital adequacy purposes, ratio | 0.040 | 0.040 |
People's Bank SB [Member] | ||
Common equity tier 1 capital to risk-weighted assets, amount | $ 123.3 | $ 108.9 |
Common equity tier 1 capital to risk-weighted assets, ratio | 0.127 | 0.116 |
Common equity tier 1 capital to risk-weighted assets, required for capital adequacy purposes, amount | $ 43.8 | $ 42.4 |
Common equity tier 1 capital to risk-weighted assets, minimum required for capital adequacy purposes, ratio | 4.50% | 4.50% |
Tier 1 capital to risk-weighted assets, amount | $ 123.3 | $ 108.9 |
Tier 1 capital to risk-weighted assets, ratio | 0.127 | 0.116 |
Tier 1 capital to risk-weighted assets, required for capital adequacy purposes, amount | $ 58.4 | $ 56.5 |
Tier 1 capital to risk-weighted assets, minimum required for capital adequacy purposes, ratio | 0.060 | 0.060 |
Total capital to risk-weighted assets, amount | $ 135.4 | $ 117.9 |
Total capital to risk-weighted assets, ratio | 0.139 | 0.125 |
Total capital to risk-weighted assets, required for capital adequacy purposes, amount | $ 77.8 | $ 75.3 |
Total capital to risk-weighted assets, minimum required for capital adequacy purposes, ratio | 0.080 | 0.080 |
Tier 1 capital to adjusted average assets, amount | $ 123.3 | $ 108.9 |
Tier 1 capital to adjusted average assets, ratio | 0.083 | 0.083 |
Tier 1 capital to adjusted average assets, required for capital adequacy purposes, amount | $ 59.1 | $ 52.3 |
Tier 1 capital to adjusted average assets, minimum required for capital adequacy purposes, ratio | 0.040 | 0.040 |
Common equity tier 1 capital to risk-weighted assets, minimum required to be well capitalized, amount | $ 63.2 | $ 61.2 |
Common equity tier 1 capital to risk-weighted assets, minimum required to be well capitalized, ratio | 6.50% | 6.50% |
Tier 1 capital to risk-weighted assets, minimum required to be well capitalized, amount | $ 77.8 | $ 75.3 |
Tier 1 capital to risk-weighted assets, minimum required to be well capitalized, ratio | 0.080 | 0.080 |
Total capital to risk-weighted assets, minimum required to be well capitalized, amount | $ 97.3 | $ 94.1 |
Total capital to risk-weighted assets, minimum required to be well capitalized, ratio | 0.100 | 0.100 |
Tier 1 capital to adjusted average assets, minimum required to be well capitalized, amount | $ 73.9 | $ 65.3 |
Tier 1 capital to adjusted average assets, minimum required to be well capitalized, ratio | 0.050 | 0.050 |
Note 13 - Stock Based Compens_3
Note 13 - Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Feb. 17, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 13,243 | 7,407 | |
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition | $ 415 | $ 301 | |
Net Surrender Value of Restricted Stock Awards | 85 | 63 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 571 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months | ||
2015 Stock Option and Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 250,000 | ||
Share-based Payment Arrangement, Expense | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 | 0 | |
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years |
Note 13 - Stock Based Compens_4
Note 13 - Stock Based Compensation - Restricted Stock Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Non-vested, shares (in shares) | 30,205 | 27,423 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 35.63 | $ 32.58 |
Granted, shares (in shares) | 13,243 | 7,407 |
Granted, weighted average grant date fair value (in dollars per share) | $ 44.30 | $ 43 |
Vested, shares (in shares) | (6,400) | (4,625) |
Vested, weighted average grant date fair value (in dollars per share) | $ 27.50 | $ 29.37 |
Forfeited, shares (in shares) | (220) | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 43.65 | $ 0 |
Non-vested, shares (in shares) | 36,828 | 30,205 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 40.11 | $ 35.63 |
Note 14 - Earnings Per Common_3
Note 14 - Earnings Per Common Share - Reconciliation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income as reported | $ 16,604 | $ 12,097 |
Weighted average common shares outstanding (in shares) | 3,461,948 | 3,425,056 |
Basic earnings per common share (in dollars per share) | $ 4.80 | $ 3.53 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 3,461,948 | 3,425,056 |
Diluted earnings per common share (in dollars per share) | $ 4.80 | $ 3.53 |
Note 15 - Related Party Trans_3
Note 15 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans and Leases Receivable, Related Parties, Ending Balance | $ 4,350 | $ 4,021 |
Deposits, Total | 1,302,339 | 1,154,370 |
Directors And Executive Officers [Member] | ||
Deposits, Total | 5,300 | $ 4,500 |
Minimum [Member] | Directors And Executive Officers [Member] | ||
Loans and Leases Receivable, Related Parties, Ending Balance | $ 120 |
Note 15 - Related Party Trans_4
Note 15 - Related Party Transactions - Related Party Loan Activity (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Aggregate balance at the beginning of the year | $ 4,021 |
New loans | 1,042 |
Repayments | (713) |
Aggregate balance at the end of the year | $ 4,350 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans and Leases Receivable, Commitments, Fixed Rates | $ 93,467 | $ 89,212 |
Standby Letters of Credit [Member] | ||
Letters of Credit Outstanding, Amount | $ 11,500 | $ 11,500 |
Minimum [Member] | ||
Loans Receivable Fixed Rates of Interest | 2.25% | 2.99% |
Maximum [Member] | ||
Loans Receivable Fixed Rates of Interest | 10.00% | 10.00% |
Note 16 - Commitments and Con_4
Note 16 - Commitments and Contingencies - Outstanding Commitments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans and leases receivable, commitments, fixed rate | $ 93,467 | $ 89,212 |
Loans and leases receivable, commitments, variable rate | 131,419 | 109,105 |
Loans and leases receivable, commitments | 224,886 | 198,317 |
Residential Real Estate [Member] | ||
Loans and leases receivable, commitments, fixed rate | 749 | 165 |
Loans and leases receivable, commitments, variable rate | 21,961 | 10,377 |
Loans and leases receivable, commitments | 22,710 | 10,542 |
Home Equity Loan [Member] | ||
Loans and leases receivable, commitments, fixed rate | 44,972 | 40,429 |
Loans and leases receivable, commitments, variable rate | 7,951 | 8,841 |
Loans and leases receivable, commitments | 52,923 | 49,270 |
Commercial Real Estate [Member] | ||
Loans and leases receivable, commitments, fixed rate | 2,955 | 5,890 |
Loans and leases receivable, commitments, variable rate | 13,138 | 11,537 |
Loans and leases receivable, commitments | 16,093 | 17,427 |
Construction and Land Development [Member] | ||
Loans and leases receivable, commitments, fixed rate | 20,667 | 15,797 |
Loans and leases receivable, commitments, variable rate | 30,959 | 25,165 |
Loans and leases receivable, commitments | 51,626 | 40,962 |
Multifamily [Member] | ||
Loans and leases receivable, commitments, fixed rate | 158 | 4,093 |
Loans and leases receivable, commitments, variable rate | 579 | 306 |
Loans and leases receivable, commitments | 737 | 4,399 |
Consumer [Member] | ||
Loans and leases receivable, commitments, fixed rate | 23,020 | 21,677 |
Loans and leases receivable, commitments, variable rate | 0 | 0 |
Loans and leases receivable, commitments | 23,020 | 21,677 |
Commercial Business [Member] | ||
Loans and leases receivable, commitments, fixed rate | 946 | 1,161 |
Loans and leases receivable, commitments, variable rate | 56,744 | 52,879 |
Loans and leases receivable, commitments | 57,690 | $ 54,040 |
Lot [Member] | ||
Loans and leases receivable, commitments, fixed rate | 0 | |
Loans and leases receivable, commitments, variable rate | 87 | |
Loans and leases receivable, commitments | $ 87 |
Note 17 - Derivative Financia_3
Note 17 - Derivative Financial Instruments - Non-hedging Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative assets, fair vale | $ 4,012 | $ 1,544 |
Derivative liabilities, fair vale | 3,638 | 1,358 |
Derivative instrument, Gain | 987 | 557 |
Not Designated as Hedging Instrument [Member] | ||
Derivative, notational amount | 99,150 | 42,288 |
Interest Rate Swap [Member] | Other Nonoperating Income (Expense) [Member] | ||
Derivative instrument, Gain | 800 | 371 |
Interest Rate Swap [Member] | Other Assets [Member] | ||
Derivative assets, fair vale | 3,638 | 1,358 |
Interest Rate Swap [Member] | Other Liabilities [Member] | ||
Derivative liabilities, fair vale | 3,638 | 1,358 |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative, notational amount | 72,707 | 29,466 |
Interest Rate Lock Commitments [Member] | Gain (Loss) on Sale of Loans Held-for-Sale, Net [Member] | ||
Derivative instrument, Gain | 187 | 186 |
Interest Rate Lock Commitments [Member] | Other Assets [Member] | ||
Derivative assets, fair vale | 374 | 186 |
Interest Rate Lock Commitments [Member] | Other Liabilities [Member] | ||
Derivative liabilities, fair vale | 0 | 0 |
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative, notational amount | $ 26,443 | $ 12,822 |
Note 17 - Derivative Financia_4
Note 17 - Derivative Financial Instruments - Offset Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Gross amount of recognized assets | $ 4,012 | $ 1,544 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 4,012 | 1,544 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | 4,012 | 1,544 |
Interest Rate Swap [Member] | ||
Gross amount of recognized assets | 3,638 | 1,358 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 3,638 | 1,358 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | 3,638 | 1,358 |
Interest Rate Lock Commitments [Member] | ||
Gross amount of recognized assets | 374 | 186 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 374 | 186 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | $ 374 | $ 186 |
Note 17 - Derivative Financia_5
Note 17 - Derivative Financial Instruments - Offset Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Gross amount of recognized liabilities | $ 3,638 | $ 1,358 |
Gross amounts offset in the statement of financial condition | 0 | 0 |
Net amount of liabilities present in the statement of financial condition | 3,638 | 1,358 |
Financial instruments | 0 | 0 |
Cash collateral pledged | 3,930 | 2,290 |
Net amount | (292) | |
Net amount | (932) | |
Interest Rate Swap [Member] | ||
Gross amount of recognized liabilities | 3,638 | 1,358 |
Gross amounts offset in the statement of financial condition | 0 | 0 |
Net amount of liabilities present in the statement of financial condition | 3,638 | 1,358 |
Financial instruments | 0 | 0 |
Cash collateral pledged | 3,930 | 2,290 |
Net amount | $ (292) | |
Net amount | $ (932) |
Note 18 - Fair Values of Fina_3
Note 18 - Fair Values of Financial Instruments (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | $ 0 | $ 0 |
Available-for-sale Securities, Amortized Cost Basis, Total | 2,200 | |
Impaired Financing Receivable, Recorded Investment, Total | 11,800 | 7,200 |
Impaired Financing Receivable, Related Allowance | 1,800 | 166 |
Impaired Financing Receivable, Fair Value | $ 10,000 | $ 7,100 |
Note 18 - Fair Values of Fina_4
Note 18 - Fair Values of Financial Instruments - Credit Loss Roll Forward for Trust Preferred Securities Classified with Other Than Temporary Impairment (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Ending balance, December 31, 2019 | $ 173 |
Additions not previously recognized | 0 |
Ending balance, December 31, 2020 | $ 173 |
Note 18 - Fair Values of Fina_5
Note 18 - Fair Values of Financial Instruments - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities available-for-sale | $ 410,669 | $ 277,219 |
Fair Value, Recurring [Member] | ||
Securities available-for-sale | 410,669 | 277,219 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 52,941 | 9,670 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 356,799 | 266,473 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 929 | 1,076 |
Money Market Funds [Member] | ||
Securities available-for-sale | 52,941 | 9,670 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | ||
Securities available-for-sale | 52,941 | 9,670 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 52,941 | 9,670 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | 0 |
Money Market Funds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 7,860 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available-for-sale | 7,860 | 13,058 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 7,860 | 13,058 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 154,736 | 150,988 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available-for-sale | 154,736 | 150,988 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 154,736 | 150,988 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale | 194,203 | 102,427 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Securities available-for-sale | 194,203 | 102,427 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 194,203 | 102,427 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Debt Obligations [Member] | ||
Securities available-for-sale | 929 | 1,076 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | ||
Securities available-for-sale | 929 | 1,076 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Debt Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | $ 929 | $ 1,076 |
Note 18 - Fair Values of Fina_6
Note 18 - Fair Values of Financial Instruments - Available for Sale Securities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 1,076 | $ 2,049 |
Principal payments | (20) | (38) |
Total unrealized gains (losses), included in other comprehensive income | (127) | 52 |
Sale out of Level 3 | 0 | (987) |
Ending balance | $ 929 | $ 1,076 |
Note 18 - Fair Values of Fina_7
Note 18 - Fair Values of Financial Instruments - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Impaired Loans [Member] | ||
Assets, fair value | $ 10,046 | $ 7,052 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 10,046 | 7,052 |
Foreclosed Real Estate [Member] | ||
Assets, fair value | 538 | 1,083 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 0 | 0 |
Foreclosed Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 538 | $ 1,083 |
Note 18 - Fair Values of Fina_8
Note 18 - Fair Values of Financial Instruments - Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities available-for-sale | $ 410,669 | $ 277,219 |
Interest rate swap agreements | 4,012 | 1,544 |
Interest rate swap agreements | 3,638 | 1,358 |
Securities available-for-sale | 410,669 | 277,219 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 19,922 | 47,258 |
Certificates of deposit in other financial institutions | 1,897 | 2,170 |
Securities available-for-sale | 410,669 | 277,219 |
Loans held-for-sale | 11,329 | 6,091 |
Loans receivable, net | 954,120 | 897,870 |
Federal Home Loan Bank stock | 3,918 | 3,912 |
Interest rate swap agreements | 3,638 | 1,358 |
Accrued interest receivable | 4,713 | 4,029 |
Non-interest bearing deposits | 241,620 | 172,094 |
Interest bearing deposits | 1,060,719 | 982,276 |
Repurchase agreements | 13,711 | 11,499 |
Borrowed funds | 6,149 | 14,000 |
Interest rate swap agreements | 3,638 | 1,358 |
Accrued interest payable | 54 | 179 |
Securities available-for-sale | 410,669 | 277,219 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 19,922 | 47,258 |
Certificates of deposit in other financial institutions | 1,868 | 2,137 |
Securities available-for-sale | 410,669 | 277,219 |
Loans held-for-sale | 11,660 | 6,204 |
Loans receivable, net | 984,270 | 917,174 |
Federal Home Loan Bank stock | 3,918 | 3,912 |
Interest rate swap agreements | 3,638 | 1,358 |
Accrued interest receivable | 4,713 | 4,029 |
Non-interest bearing deposits | 241,620 | 172,094 |
Interest bearing deposits | 1,061,294 | 982,241 |
Repurchase agreements | 13,713 | 11,499 |
Borrowed funds | 6,018 | 14,108 |
Interest rate swap agreements | 3,638 | 1,358 |
Accrued interest payable | 54 | 179 |
Securities available-for-sale | 410,669 | 277,219 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 19,922 | 47,258 |
Certificates of deposit in other financial institutions | 0 | 0 |
Securities available-for-sale | 52,941 | 9,670 |
Loans held-for-sale | 11,660 | 6,204 |
Loans receivable, net | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Interest rate swap agreements | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Non-interest bearing deposits | 241,620 | 172,094 |
Interest bearing deposits | 775,891 | 654,573 |
Repurchase agreements | 11,976 | 9,721 |
Borrowed funds | 0 | 0 |
Interest rate swap agreements | 0 | 0 |
Accrued interest payable | 0 | 0 |
Securities available-for-sale | 52,941 | 9,670 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Certificates of deposit in other financial institutions | 1,868 | 2,137 |
Securities available-for-sale | 356,799 | 266,473 |
Loans held-for-sale | 0 | 0 |
Loans receivable, net | 0 | 0 |
Federal Home Loan Bank stock | 3,918 | 3,912 |
Interest rate swap agreements | 3,638 | 1,358 |
Accrued interest receivable | 4,713 | 4,029 |
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 285,403 | 327,668 |
Repurchase agreements | 1,737 | 1,778 |
Borrowed funds | 6,018 | 14,108 |
Interest rate swap agreements | 3,638 | 1,358 |
Accrued interest payable | 54 | 179 |
Securities available-for-sale | 356,799 | 266,473 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Certificates of deposit in other financial institutions | 0 | 0 |
Securities available-for-sale | 929 | 1,076 |
Loans held-for-sale | 0 | 0 |
Loans receivable, net | 984,270 | 917,174 |
Federal Home Loan Bank stock | 0 | 0 |
Interest rate swap agreements | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 0 | 0 |
Repurchase agreements | 0 | 0 |
Borrowed funds | 0 | 0 |
Interest rate swap agreements | 0 | 0 |
Accrued interest payable | 0 | 0 |
Securities available-for-sale | $ 929 | $ 1,076 |
Note 19 - Parent Company Only_3
Note 19 - Parent Company Only Statements - Condensed Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Interest bearing deposits in other financial institutions | $ 5,908 | $ 10,750 | |
Other assets | 17,800 | 18,557 | |
Total assets | 1,497,525 | 1,328,722 | |
Total liabilities | 1,344,603 | 1,194,619 | |
Additional paid-in capital | 29,987 | 29,657 | |
Accumulated other comprehensive income | 10,441 | 4,261 | |
Retained earnings | 112,494 | 100,185 | |
Total stockholders’ equity | 152,922 | 134,103 | $ 101,464 |
Total liabilities and stockholders’ equity | 1,497,525 | 1,328,722 | |
Parent Company [Member] | |||
Cash on deposit with Peoples Bank | 805 | 191 | |
Interest bearing deposits in other financial institutions | 150,928 | 132,134 | |
Investment in NWIN Risk Management, Inc | 1,775 | 1,736 | |
Dividends receivable from Peoples Bank | 1,070 | 1,070 | |
Other assets | 420 | 610 | |
Total assets | 154,998 | 135,366 | |
Dividends payable | 1,074 | 1,070 | |
Other liabilities | 1,002 | 569 | |
Total liabilities | 2,076 | 1,639 | |
Additional paid-in capital | 29,987 | 29,657 | |
Accumulated other comprehensive income | 10,441 | 4,261 | |
Retained earnings | 112,494 | 100,184 | |
Total stockholders’ equity | 152,922 | 133,727 | |
Total liabilities and stockholders’ equity | $ 154,998 | $ 135,366 |
Note 19 - Parent Company Only_4
Note 19 - Parent Company Only Statements - Condensed Income Statement (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Dividends from Peoples Bank | $ 4,295 | $ 4,245 |
Income before income taxes and equity in undistributed income of Peoples Bank | 19,496 | 13,856 |
Income tax expenses | 2,892 | 1,759 |
Net income | 16,604 | 12,097 |
Parent Company [Member] | ||
Dividends from Peoples Bank | 3,395 | 19,388 |
Operating expenses | 414 | 486 |
Income before income taxes and equity in undistributed income of Peoples Bank | 2,981 | 18,902 |
Income tax expenses | (86) | (101) |
Income before equity in undistributed income of Peoples Bank | 3,067 | 19,003 |
Equity in undistributed (distributions in excess of income) income of Peoples Bank | 12,614 | (7,889) |
income of NWIN Risk Management, Inc | 923 | 983 |
Net income | $ 16,604 | $ 12,097 |
Note 19 - Parent Company Only_5
Note 19 - Parent Company Only Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 16,604 | $ 12,097 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Stock based compensation expense | 415 | 301 |
Net surrender value of restricted stock awards | (85) | (63) |
Other assets | (1,817) | (5,407) |
Total adjustments | 4,545 | (1,140) |
Net cash - operating activities | 21,149 | 10,957 |
Cash flows from investing activities: | ||
Net cash - investing activities | (186,558) | (28,174) |
Cash flows from financing activities: | ||
Dividends paid | 4,291 | 4,085 |
Net cash - financing activities | 138,073 | 47,336 |
Parent Company [Member] | ||
Cash flows from operating activities: | ||
Net income | 16,604 | 12,097 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Distributions in excess of income (equity in undistributed income): Peoples Bank | (12,614) | 7,889 |
NWIN Risk Management, Inc | (923) | (983) |
Stock based compensation expense | 415 | 301 |
Net surrender value of restricted stock awards | (85) | (63) |
Other assets | 190 | (94) |
Change in other liabilities | 433 | (259) |
Total adjustments | (12,584) | 6,791 |
Net cash - operating activities | 4,020 | 18,888 |
Cash flows from investing activities: | ||
Cash paid for acquisition | 0 | (15,743) |
Investment in Peoples Bank | 0 | (1,500) |
Distribution from NWIN Risk Management, Inc | 885 | 1,750 |
Net cash - investing activities | 885 | (15,493) |
Cash flows from financing activities: | ||
Dividends paid | (4,291) | (4,085) |
Proceeds from issuance of common stock | 0 | 0 |
Net cash - financing activities | (4,291) | (4,085) |
Net change in cash | 614 | (690) |
Cash at beginning of year | 191 | 881 |
Cash at end of year | $ 805 | $ 191 |