Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 09, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000919864 | |
Entity Registrant Name | Finward Bancorp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
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, City or Town | Munster | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 46321 | |
City Area Code | 219 | |
Local Phone Number | 836‑4400 | |
Title of 12(b) Security | Common stock, no par value | |
Trading Symbol | FNWD | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 3,479,139 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 17,715 | $ 14,014 |
Interest bearing deposits in other financial institutions | 12,132 | 5,908 |
Federal funds sold | 1,918 | 0 |
Total cash and cash equivalents | 31,765 | 19,922 |
Certificates of deposit in other financial institutions | 977 | 1,897 |
Securities available-for-sale | 531,010 | 410,669 |
Loans held-for-sale | 3,868 | 11,329 |
Loans receivable | 956,352 | 965,146 |
Less: allowance for loan losses | (13,774) | (12,458) |
Net loans receivable | 942,578 | 952,688 |
Federal Home Loan Bank stock | 3,247 | 3,918 |
Accrued interest receivable | 5,259 | 4,713 |
Premises and equipment | 29,980 | 30,785 |
Foreclosed real estate | 81 | 538 |
Cash value of bank owned life insurance | 31,262 | 30,725 |
Goodwill | 11,109 | 11,109 |
Other intangible assets | 3,374 | 4,119 |
Other assets | 15,414 | 13,880 |
Total assets | 1,609,924 | 1,496,292 |
Deposits: | ||
Non-interest bearing | 287,376 | 241,620 |
Interest bearing | 1,118,824 | 1,060,719 |
Total | 1,406,200 | 1,302,339 |
Repurchase agreements | 23,844 | 13,711 |
Borrowed funds | 0 | 6,149 |
Accrued expenses and other liabilities | 27,311 | 22,404 |
Total liabilities | 1,457,355 | 1,344,603 |
Commitments and contingent liabilties | ||
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: June 30, 2021 - 3,479,139 December 31, 2020 - 3,462,916 | 0 | 0 |
Additional paid-in capital | 30,284 | 29,987 |
Accumulated other comprehensive income | 2,608 | 10,441 |
Retained earnings | 119,677 | 111,261 |
Total stockholders' equity | 152,569 | 151,689 |
Total liabilities and stockholders' equity | $ 1,609,924 | $ 1,496,292 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
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) | 3,479,139 | 3,462,916 |
Common stock, outstanding (in shares) | 3,479,139 | 3,462,916 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest income: | ||||
Real estate loans | $ 8,177 | $ 8,560 | $ 24,627 | $ 27,222 |
Commercial loans | 1,737 | 2,427 | 5,728 | 5,746 |
Consumer loans | 356 | 276 | 936 | 621 |
Total loan interest | 10,270 | 11,263 | 31,291 | 33,589 |
Securities | 2,378 | 1,534 | 6,483 | 4,803 |
Other interest earning assets | 18 | 39 | 54 | 218 |
Total interest income | 12,666 | 12,836 | 37,828 | 38,610 |
Interest expense: | ||||
Deposits | 452 | 1,050 | 1,652 | 4,494 |
Repurchase agreements | 13 | 15 | 35 | 72 |
Borrowed funds | 1 | 83 | 23 | 270 |
Total interest expense | 466 | 1,148 | 1,710 | 4,836 |
Net interest income | 12,200 | 11,688 | 36,118 | 33,774 |
Provision for loan losses | 139 | 849 | 1,293 | 1,871 |
Net interest income after provision for loan losses | 12,061 | 10,839 | 34,825 | 31,903 |
Noninterest income: | ||||
Gain on sale of loans held-for-sale, net | 1,229 | 2,420 | 4,394 | 6,037 |
Fees and service charges | 1,473 | 1,473 | 4,010 | 3,673 |
Wealth management operations | 604 | 537 | 1,787 | 1,605 |
Gain on sale of securities, net | 590 | 197 | 1,276 | 1,374 |
Increase in cash value of bank owned life insurance | 180 | 177 | 537 | 534 |
Gain on sale of foreclosed real estate, net | 0 | 24 | 27 | 127 |
Other | 70 | 27 | 108 | 97 |
Total noninterest income | 4,146 | 4,855 | 12,139 | 13,447 |
Noninterest expense: | ||||
Compensation and benefits | 6,042 | 5,517 | 17,624 | 16,447 |
Occupancy and equipment | 1,380 | 1,150 | 4,076 | 3,854 |
Data processing | 872 | 583 | 1,997 | 1,671 |
Marketing | 334 | 183 | 728 | 571 |
Federal deposit insurance premiums | 236 | 209 | 620 | 564 |
Other | 3,537 | 2,393 | 8,859 | 7,033 |
Total noninterest expense | 12,401 | 10,035 | 33,904 | 30,140 |
Income before income tax expenses | 3,806 | 5,659 | 13,060 | 15,210 |
Income tax expenses | 268 | 972 | 1,408 | 2,559 |
Net income | $ 3,538 | $ 4,687 | $ 11,652 | $ 12,651 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 1.02 | $ 1.35 | $ 3.35 | $ 3.65 |
Diluted (in dollars per share) | 1.02 | 1.35 | 3.35 | 3.65 |
Dividends declared per common share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.93 | $ 0.93 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 3,538 | $ 4,687 | $ 11,652 | $ 12,651 |
Net change in net unrealized gains and losses on securities available-for-sale: | ||||
Unrealized (losses)/gains arising during the period | (6,501) | (25) | (8,638) | 7,294 |
Less: reclassification adjustment for gains included in net income | (590) | (197) | (1,276) | (1,374) |
Net securities (loss)/gain during the period | (7,091) | (222) | (9,914) | 5,920 |
Tax effect | 1,490 | 46 | 2,081 | (1,243) |
Net of tax amount | (5,601) | (176) | (7,833) | 4,677 |
Comprehensive (loss)/income, net of tax | $ (2,063) | $ 4,511 | $ 3,819 | $ 17,328 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2019 | $ 0 | $ 29,657 | $ 4,261 | $ 99,624 | $ 133,542 |
Net income | 0 | 0 | 0 | 12,651 | 12,651 |
Other comprehensive loss | 0 | 0 | 4,677 | 0 | 4,677 |
Comprehensive income | 17,328 | ||||
Stock-based compensation expense | 0 | 309 | 0 | 0 | 309 |
Cash dividends | 0 | 0 | 0 | (3,221) | (3,221) |
Balance at Sep. 30, 2020 | 0 | 29,881 | 8,938 | 109,054 | 147,873 |
Net surrender value of restricted stock awards | 0 | (85) | 0 | 0 | (85) |
Balance at Jun. 30, 2020 | 0 | 29,774 | 9,114 | 105,441 | 144,329 |
Net income | 0 | 0 | 0 | 4,687 | 4,687 |
Other comprehensive loss | 0 | 0 | (176) | 0 | (176) |
Comprehensive income | 4,511 | ||||
Stock-based compensation expense | 0 | 107 | 0 | 0 | 107 |
Cash dividends | 0 | 0 | 0 | (1,074) | (1,074) |
Balance at Sep. 30, 2020 | 0 | 29,881 | 8,938 | 109,054 | 147,873 |
Balance at Dec. 31, 2020 | 0 | 29,987 | 10,441 | 111,261 | 151,689 |
Net income | 0 | 0 | 0 | 11,652 | 11,652 |
Other comprehensive loss | 0 | 0 | (7,833) | 0 | (7,833) |
Comprehensive income | 3,819 | ||||
Stock-based compensation expense | 0 | 428 | 0 | 0 | 428 |
Cash dividends | 0 | 0 | 0 | (3,236) | (3,236) |
Balance at Sep. 30, 2021 | 0 | 30,284 | 2,608 | 119,677 | 152,569 |
Net surrender value of restricted stock awards | 0 | (131) | 0 | 0 | (131) |
Balance at Jun. 30, 2021 | 0 | 30,141 | 8,209 | 117,219 | 155,569 |
Net income | 0 | 0 | 0 | 3,538 | 3,538 |
Other comprehensive loss | 0 | 0 | (5,601) | 0 | (5,601) |
Comprehensive income | (2,063) | ||||
Stock-based compensation expense | 0 | 143 | 0 | 0 | 143 |
Cash dividends | 0 | 0 | 0 | (1,080) | (1,080) |
Balance at Sep. 30, 2021 | $ 0 | $ 30,284 | $ 2,608 | $ 119,677 | $ 152,569 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Cash dividends per share (in dollars per share) | $ 0.31 | $ 0.31 | $ 0.93 | $ 0.93 |
Shares of restricted stock awards surrendered (in shares) | 1,904 | 1,245 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 11,652 | $ 12,651 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
Origination of loans for sale | (120,101) | (171,151) |
Sale of loans originated for sale | 131,477 | 177,556 |
Depreciation and amortization, net of accretion | 3,109 | 3,178 |
Amortization of mortgage servicing rights | 180 | 63 |
Stock based compensation expense | 428 | 309 |
Gain on sale of securities, net | (1,276) | (1,374) |
Gain on sale of loans held-for-sale, net | (4,546) | (6,037) |
Loss/(gain) on derivatives | 152 | (308) |
Gain on cash value of bank owned life insurance | (537) | (534) |
Gain on sale of foreclosed real estate, net | (27) | (127) |
Provision for loan losses | 1,293 | 1,871 |
Net change in: | ||
Interest receivable | (546) | (685) |
Other assets | 1,591 | (1,682) |
Accrued expenses and other liabilities | (6,290) | 5,526 |
Net cash - operating activities | 16,559 | 19,256 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposits in other financial institutions | 920 | 269 |
Proceeds from maturities and pay downs of securities available-for-sale | 43,488 | 49,311 |
Proceeds from sales of securities available-for-sale | 28,565 | 39,242 |
Purchase of securities available-for-sale | (191,130) | (129,503) |
Loan participations purchased | 0 | (8,267) |
Net change in loans receivable | 20,148 | (60,386) |
Proceeds (purchase) of Federal Home Loan Bank Stock | 671 | (6) |
Purchase of loans receivable | (11,331) | 0 |
Purchase of premises and equipment, net | (1,019) | (2,088) |
Proceeds from sale of foreclosed real estate, net | 484 | 731 |
Net cash - investing activities | (109,204) | (110,697) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | 103,861 | 126,286 |
Repayment of FHLB advances | (6,000) | (2,000) |
Change in other borrowed funds | 9,984 | 7,646 |
Net surrender value of restricted stock awards | (131) | (85) |
Dividends paid | (3,226) | (3,217) |
Net cash - financing activities | 104,488 | 128,630 |
Net change in cash and cash equivalents | 11,843 | 37,189 |
Cash and cash equivalents at beginning of period | 19,922 | 47,258 |
Cash and cash equivalents at end of period | 31,765 | 84,447 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 1,744 | 4,953 |
Income taxes | 2,185 | 5,000 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | 0 | 23 |
Dividends declared not paid | 1,080 | 1,074 |
Securities purchased not settled | $ 11,187 | $ 0 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 1 Organization and Description of Business The consolidated financial statements include the accounts of Finward Bancorp (the “Bancorp” or “Finward”), its wholly-owned subsidiaries NWIN Risk Management, Inc. (a captive insurance subsidiary) and Peoples Bank (the “Bank”), and the Bank’s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC, NWIN Funding, Incorporated, and Columbia Development Company, LLC. The Bancorp’s business activities include being a holding company for the Bank as well as a holding company for NWIN Risk Management, Inc. The Bancorp’s earnings are primarily dependent upon the earnings of the Bank. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10 not September 30, 2021, December 31, 2020, three nine September 30, 2021, 2020, nine September 30, 2021, 2020. nine September 30, 2021, not On May 13, 2021, March 3, 2021 May 24, 2021. The Notes to the Consolidated Financial Statements appearing in Finward Bancorp’s Annual Report on Form 10 2020 December 31, 2020 not Revision of Previously Issued Financial Statements We have revised amounts reported in previously issued financial statements for the periods presented in this Quarterly Report on Form 10 second 2021. We evaluated the aggregate effects of the errors to our previously issued financial statements in accordance with SEC Staff Accounting Bulletins No. 99 No. 108 not 10 December 31, 2020 2019, 10 March 31, 2021. The following tables present the revisions to the line items of our previously issued financial statements to reflect the correction of the errors: Consolidated Balance Sheet As of December 31, 2020 As Reported Adjustment As Revised Loans receivable $ 966,578 $ (1,432 ) $ 965,146 Net loans receivable 954,120 (1,432 ) 952,688 Other assets 13,681 199 13,880 Total assets 1,497,525 (1,233 ) 1,496,292 Retained earnings 112,494 (1,233 ) 111,261 Total shareholders' equity 152,922 (1,233 ) 151,689 Total liabilities and stockholders' equity 1,497,525 (1,233 ) 1,496,292 Consolidated Statement of Income Three months ended September 30, 2020 As Reported Adjustment As Revised Compensation and benefits $ 5,263 $ 254 $ 5,517 Total noninterest expense 9,781 254 10,035 Income before income tax expense 5,913 (254 ) 5,659 Income tax expenses 1,010 (38 ) 972 Net income 4,903 (216 ) 4,687 Earnings per common share: Basic 1.42 (0.07 ) 1.35 Diluted 1.42 (0.07 ) 1.35 Nine months ended September 30, 2020 As Reported Adjustment As Revised Compensation and benefits $ 15,851 $ 596 $ 16,447 Total noninterest expense 29,544 596 30,140 Income before income tax expense 15,806 (596 ) 15,210 Income tax expenses 2,648 (89 ) 2,559 Net income 13,158 (507 ) 12,651 Earnings per common share: Basic 3.80 (0.15 ) 3.65 Diluted 3.80 (0.15 ) 3.65 Consolidated Statements of Comprehensive Income Three months ended September 30, 2020 As Reported Adjustment As Revised Net income $ 4,903 $ (216 ) $ 4,687 Comprehensive income, net of tax 4,727 (216 ) 4,511 Nine months ended September 30, 2020 As Reported Adjustment As Revised Net income $ 13,158 $ (507 ) $ 12,651 Comprehensive income, net of tax 17,835 (507 ) 17,328 Consolidated Statements of Changes in Stockholders' Equity Balance at January 1, 2020 As Reported Adjustment As Revised Retained earnings $ 100,185 $ (561 ) $ 99,624 Total equity 134,103 (561 ) 133,542 For the nine months ending September 30, 2020 Net income 13,158 (507 ) 12,651 Retained earnings 110,122 (1,068 ) 109,054 Total equity 148,941 (1,068 ) 147,873 For the quarter ending June 30, 2020 Retained earnings 106,293 (852 ) 105,441 Total equity 145,181 (852 ) 144,329 For the quarter ending September 30, 2020 Net income 4,903 (216 ) 4,687 Retained earnings 110,122 (1,068 ) 109,054 Total equity 148,941 (1,068 ) 147,873 Balance at January 1, 2021 Retained earnings 112,494 (1,233 ) 111,261 Total equity 152,922 (1,233 ) 151,689 Consolidated Statements of Cash Flows Nine months ended September 30, 2020 As Reported Adjustment As Revised Net income $ 13,158 $ (507 ) $ 12,651 Net change in other assets (1,593 ) (89 ) (1,682 ) Net cash - operating activities 19,852 (596 ) 19,256 Net change in loan (60,982 ) 596 (60,386 ) Net cash - investing activities (111,293 ) 596 (110,697 ) |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Use of Estimates [Text Block] | Note 2 Preparing financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period, as well as the disclosures provided. Actual results could differ from those estimates. Estimates associated with the allowance for loan losses, fair values of foreclosed real estate, loan servicing rights, investment securities, deferred tax assets, goodwill, and the status of contingencies are particularly susceptible to material change in the near term. |
Note 3 - Securities
Note 3 - Securities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value September 30, 2021 U.S. government sponsored entities 10,883 8 (130 ) 10,761 U.S. treasury securities 401 - - 401 Collateralized mortgage obligations and residential mortgage-backed securities 199,749 1,559 (2,823 ) 198,485 Municipal securities 314,511 8,496 (2,655 ) 320,352 Collateralized debt obligations 2,173 - (1,162 ) 1,011 Total securities available-for-sale $ 527,717 $ 10,063 $ (6,770 ) $ 531,010 (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 The estimated fair value of available-for-sale debt securities at September 30, 2021, not (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent September 30, 2021 Value Yield (%) Due in one year or less $ 401 0.63 Due from one to five years 3,817 4.39 Due from five to ten years 28,638 2.63 Due over ten years 299,669 2.91 Collateralized mortgage obligations and residential mortgage-backed securities 198,485 1.62 Total $ 531,010 2.42 Sales of available-for-sale securities were as follows for the three (Dollars in thousands) September 30, September 30, 2021 2020 Proceeds $ 9,275 $ 4,144 Gross gains 591 197 Gross losses (1 ) - Sales of available-for-sale securities were as follows for the nine (Dollars in thousands) September 30, September 30, 2021 2020 Proceeds $ 28,565 $ 39,242 Gross gains 1,297 1,433 Gross losses (21 ) (59 ) 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, 2020 $ 10,441 Current period change (7,833 ) Ending balance, September 30, 2021 $ 2,608 Securities with market values of approximately $43.3 million and $52.4 million were pledged as of September 30, 2021 December 31, 2020, Securities with gross unrealized losses at September 30, 2021, December 31, 2020 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 September 30, 2021 U.S. government sponsored entities $ 8,753 $ (130 ) $ - $ - $ 8,753 $ (130 ) Collateralized mortgage obligations and residential mortgage-backed securities 133,551 (2,693 ) 2,740 (130 ) 136,291 (2,823 ) Municipal securities 133,340 (2,655 ) - - 133,340 (2,655 ) Collateralized debt obligations - - 1,011 (1,162 ) 1,011 (1,162 ) Total temporarily impaired $ 275,644 $ (5,478 ) $ 3,751 $ (1,292 ) $ 279,395 $ (6,770 ) Number of securities 211 3 214 (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 Unrealized losses on securities have not |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 The Bancorp’s current lending programs are described below: Residential Real Estate. 80% 97% not Fixed rate loans currently originated generally conform to Freddie Mac guidelines for loans purchased under the one‑to‑four family program. Loan interest rates are determined based on secondary market yield requirements and local market conditions. Fixed rate mortgage loans with contractual maturities generally exceeding fifteen may The 15 20 30 15 15 second The Bancorp’s Adjustable Rate Mortgage Loans (“ARMs”) include offerings that reprice annually or are “Mini-Fixed.” The “Mini‑Fixed” mortgage reprices annually after a one, three, five, seven ten Home Equity Line of Credit. second second Fixed term home improvement and equity loans are made up to a maximum of 85% of the appraised value of the improved property, less any outstanding liens. These loans are offered on both a fixed and variable rate basis with a maximum term of 240 months. All home equity loans are made on a direct basis to borrowers. Commercial Real Estate and Multifamily Loans. 15 seven ten While commercial real estate lending is generally considered to involve a higher degree of risk than single‑family residential lending due to the concentration of principal in a limited number of loans and the effects of general economic conditions on real estate developers and managers, the Bancorp has endeavored to reduce this risk in several ways. In originating commercial real estate loans, the Bancorp considers the feasibility of the project, the financial strength of the borrowers and lessees, the managerial ability of the borrowers, the location of the project and the economic environment. Management evaluates the debt coverage ratio and analyzes the reliability of cash flows, as well as the quality of earnings. All such loans are made in accordance with well-defined underwriting standards and are generally supported by personal guarantees, which represent a secondary source of repayment. Loans for the construction of commercial properties are generally located within an area permitting physical inspection and regular review of business records. Projects financed outside of the Bancorp’s primary lending area generally involve borrowers and guarantors who are or were previous customers of the Bancorp or projects that are underwritten according to the Bank’s underwriting standards. Construction and Land Development. six one Loans are also made for the construction of commercial properties. All such loans are made in accordance with well-defined underwriting standards. Generally if the loans are not not not two Commercial Business and Farmland Loans. not Consumer Loans. Manufactured Homes. third Government Loans. Loans receivable are summarized below: (Dollars in thousands) September 30, 2021 December 31, 2020 Loans secured by real estate: Residential real estate $ 268,798 $ 286,048 Home equity 35,652 39,233 Commercial real estate 309,905 298,257 Construction and land development 110,289 93,562 Multifamily 56,869 50,571 Farmland 205 215 Total loans secured by real estate 781,718 767,886 Commercial business 125,922 158,140 Consumer 650 1,025 Manufactured homes 32,857 24,232 Government 9,841 10,142 Subtotal 950,988 961,425 Less: Net deferred loan origination fees 5,579 3,871 Undisbursed loan funds (215 ) (150 ) Loans receivable $ 956,352 $ 965,146 (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 three months ended September 30, 2021: Allowance for loan losses: Residential real estate $ 2,294 $ (28 ) $ 21 $ 188 $ 2,475 Home equity 371 - - 3 374 Commercial real estate 5,939 - - 413 6,352 Construction and land development 1,798 - - 90 1,888 Multifamily 740 - - 47 787 Farmland - - - - - Commercial business 2,474 - 6 (594 ) 1,886 Consumer 23 (4 ) 1 (8 ) 12 Manufactured homes - - - - - Government - - - - - Total $ 13,639 $ (32 ) $ 28 $ 139 $ 13,774 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three September 30, 2020: Allowance for loan losses: Residential real estate $ 1,708 $ - $ 5 $ 170 $ 1,883 Home equity 231 - - (19 ) 212 Commercial real estate 3,712 - - 675 4,387 Construction and land development 1,201 - - (29 ) 1,172 Multifamily 609 - - (59 ) 550 Farmland - - - - - Commercial business 2,375 - - 113 2,488 Consumer 30 (9 ) 3 (2 ) 22 Manufactured homes - - - - - Government - - - - - Total $ 9,866 $ (9 ) $ 8 $ 849 $ 10,714 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine September 30, 2021: Allowance for loan losses: Residential real estate $ 2,211 $ (32 ) $ 46 $ 250 $ 2,475 Home equity 276 (1 ) - 99 374 Commercial real estate 5,406 - - 946 6,352 Construction and land development 1,405 - - 483 1,888 Multifamily 626 - - 161 787 Farmland - - - - - Commercial business 2,508 - 25 (647 ) 1,886 Consumer 26 (21 ) 6 1 12 Manufactured homes - - - - - Government - - - - - Total $ 12,458 $ (54 ) $ 77 $ 1,293 $ 13,774 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine September 30, 2020: Allowance for loan losses: Residential real estate $ 1,812 $ (2 ) $ 15 $ 58 $ 1,883 Home equity 223 - - (11 ) 212 Commercial real estate 3,773 (80 ) - 694 4,387 Construction and land development 1,098 (17 ) - 91 1,172 Multifamily 529 - - 21 550 Farmland - - - - - Commercial business 1,504 (78 ) 17 1,045 2,488 Consumer 43 (22 ) 11 (10 ) 22 Manufactured homes - - - - - Government 17 - - (17 ) - Total $ 8,999 $ (199 ) $ 43 $ 1,871 $ 10,714 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 expectations, the deferred cost reserve is paid as a premium to the third September 30, 2021 December 31, 2020, 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 Individually evaluated for impairment Purchased credit impaired individually evaluated for impairment Collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at September 30, 2021: Residential real estate $ 12 $ 2,463 $ 268,798 $ 538 $ 1,063 $ 267,197 Home equity 4 370 35,652 156 141 35,355 Commercial real estate 1,579 4,773 309,905 7,021 - 302,884 Construction and land development - 1,888 110,289 - - 110,289 Multifamily - 787 56,869 - 577 56,292 Farmland - - 205 - - 205 Commercial business 309 1,577 125,922 830 1,103 123,989 Consumer - 12 650 - - 650 Manufactured homes - - 32,857 - - 32,857 Government - - 9,841 - - 9,841 Total $ 1,904 $ 11,870 $ 950,988 $ 8,545 $ 2,884 $ 939,559 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 $ 286,048 $ 868 $ 1,297 $ 283,883 Home equity 1 275 39,233 216 137 38,880 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 1,996 158,140 1,086 1,160 155,894 Consumer - 26 1,025 - - 1,025 Manufactured homes - - 24,232 - - 24,232 Government - - 10,142 - - 10,142 Total $ 1,775 $ 10,683 $ 961,425 $ 8,455 $ 3,366 $ 949,604 The Bancorp's credit quality indicators are summarized below at September 30, 2021 December 31, 2020: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category September 30, 2021 (Dollars in thousands) 1 5 6 7 8 Loan Segment Pass Pass/monitor Special mention Substandard Total Residential real estate $ 227,505 $ 34,285 $ 3,282 $ 3,726 $ 268,798 Home equity 33,844 728 616 464 35,652 Commercial real estate 230,839 57,388 13,615 8,063 309,905 Construction and land development 88,574 18,072 3,643 - 110,289 Multifamily 50,652 5,570 253 394 56,869 Farmland - 205 - - 205 Commercial business 103,791 20,013 1,407 711 125,922 Consumer 650 - - - 650 Manufactured homes 32,063 734 60 - 32,857 Government 9,841 - - - 9,841 Total $ 777,759 $ 136,995 $ 22,876 $ 13,358 $ 950,988 December 31, 2020 (Dollars in thousands) 1 5 6 7 8 Loan Segment Pass Pass/monitor Special mention Substandard Total Residential real estate $ 234,317 $ 41,805 $ 3,539 $ 6,387 $ 286,048 Home equity 37,044 933 761 495 39,233 Commercial real estate 222,892 55,202 11,983 8,180 298,257 Construction and land development 77,855 12,055 3,652 - 93,562 Multifamily 43,594 5,065 1,408 504 50,571 Farmland - 215 - - 215 Commercial business 135,671 20,067 1,341 1,061 158,140 Consumer 1,025 - - - 1,025 Manufactured homes 23,501 731 - - 24,232 Government 10,142 - - - 10,142 Total $ 786,041 $ 136,073 $ 22,684 $ 16,627 $ 961,425 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 these grades by the Bancorp is uniform and conforms to regulatory definitions. The loan grading system is as follows: 1 Superior Quality Loans in this category are substantially risk free. Loans fully collateralized by a Bank certificate of deposit or Bank deposits with a hold are substantially risk free. 2 Excellent Quality The borrower generates excellent and consistent cash flow for debt coverage, excellent average credit scores, excellent liquidity and net worth and are reputable operators with over 15 3 Great Quality The borrower generates more than sufficient cash flow to fund debt service and cash flow is improving. Average credit scores are very strong. Operators are reputable with significant years of experience. Liquidity, net worth, current and debt to tangible net worth ratios are very strong. Loan to value is significantly below policy and collateral condition is significantly above average. 4 Above Average Quality The borrower generates more than sufficient cash flow to fund debt service but cash flow trends may 5 Average Quality Borrowers are considered creditworthy and can repay the debt in the normal course of business, however, cash flow trends may 6 Pass Borrowers are considered credit worthy but financial condition may may may 7 Special Mention A special mention asset has identified weaknesses that deserve Management’s close attention. If left uncorrected, these weaknesses may not not Loans in this category may may may may 1:1. may may may may may may 8 Substandard 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 Performing loans are loans that are paying as agreed and are approximately less than ninety During the nine September 30, 2021, one One One nine September 30, 2021. nine September 30, 2020, one one not The Bancorp's individually evaluated impaired loans are summarized below: For the nine months ended For the three months ended As of September 30, 2021 September 30, 2021 September 30, 2021 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,558 $ 2,917 $ - $ 1,691 $ 83 $ 1,565 $ 41 Home equity 275 288 - 307 7 273 2 Commercial real estate 1,185 1,185 - 1,268 39 1,362 13 Construction and land development - - - - - - - Multifamily 577 665 - 647 20 587 9 Farmland - - - - - - - Commercial business 1,299 1,435 - 1,410 33 1,354 (3 ) Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - With an allowance recorded: Residential real estate $ 43 $ 43 $ 12 $ 159 $ 1 $ 102 $ (4 ) Home equity 22 22 4 17 1 22 1 Commercial real estate 5,836 5,836 1,579 5,700 145 5,852 32 Construction and land development - - - - - - - Multifamily - - - - - - - Farmland - - - - - - - Commercial business 634 634 309 698 15 659 (7 ) Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - Total: Residential real estate $ 1,601 $ 2,960 $ 12 $ 1,850 $ 84 $ 1,667 $ 37 Home equity $ 297 $ 310 $ 4 $ 324 $ 8 $ 295 $ 3 Commercial real estate $ 7,021 $ 7,021 $ 1,579 $ 6,968 $ 184 $ 7,214 $ 45 Construction & land development $ - $ - $ - $ - $ - $ - $ - Multifamily $ 577 $ 665 $ - $ 647 $ 20 $ 587 $ 9 Farmland $ - $ - $ - $ - $ - $ - $ - Commercial business $ 1,933 $ 2,069 $ 309 $ 2,108 $ 48 $ 2,012 $ (10 ) Consumer $ - $ - $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - $ - $ - For the nine months ended For the three months ended As of December 31, 2020 September 30, 2020 September 30, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,895 $ 3,228 $ - $ 2,061 $ 81 $ 2,000 $ 32 Home equity 352 363 - 378 13 366 4 Commercial real estate 1,177 1,761 - 1,338 65 1,155 18 Construction & land development - - - - - - - Multifamily 716 798 - 775 23 758 9 Farmland - - - - - - - Commercial business 1,497 1,514 - 1,614 61 1,578 21 Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - With an allowance recorded: Residential real estate $ 270 $ 314 $ 173 $ 151 $ 4 $ 234 $ 3 Home equity 1 9 1 4 - 1 - Commercial real estate 5,164 5,164 1,089 1,346 1 2,673 - Construction & land development - - - - - - - Multifamily - - - - - - - Farmland - - - - - - - Commercial business 749 749 512 736 19 855 - Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - Total: Residential real estate $ 2,165 $ 3,542 $ 173 $ 2,212 $ 85 $ 2,234 $ 35 Home equity $ 353 $ 372 $ 1 $ 382 $ 13 $ 367 $ 4 Commercial real estate $ 6,341 $ 6,925 $ 1,089 $ 2,684 $ 66 $ 3,828 $ 18 Construction & land development $ - $ - $ - $ - $ - $ - $ - Multifamily $ 716 $ 798 $ - $ 775 $ 23 $ 758 $ 9 Farmland $ - $ - $ - $ - $ - $ - $ - Commercial business $ 2,246 $ 2,263 $ 512 $ 2,350 $ 80 $ 2,433 $ 21 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 September 30, 2021 Residential real estate $ 2,057 $ 242 $ 2,422 $ 4,721 $ 264,077 $ 268,798 $ 186 Home equity 332 203 448 983 34,669 35,652 30 Commercial real estate 1,712 931 1,159 3,802 306,103 309,905 55 Construction and land development - - - - 110,289 110,289 - Multifamily 77 273 115 465 56,404 56,869 - Farmland - - - - 205 205 - Commercial business 285 250 2,350 2,885 123,037 125,922 2,245 Consumer 4 - - 4 646 650 - Manufactured homes 347 241 - 588 32,269 32,857 - Government - - - - 9,841 9,841 - Total $ 4,814 $ 2,140 $ 6,494 $ 13,448 $ 937,540 $ 950,988 $ 2,516 December 31, 2020 Residential real estate $ 2,797 $ 1,119 $ 4,875 $ 8,791 $ 277,257 $ 286,048 $ 80 Home equity 616 323 416 1,355 37,878 39,233 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 1,210 156,930 158,140 - Consumer 2 - - 2 1,023 1,025 - Manufactured homes 303 173 - 476 23,756 24,232 - Government 380 - - 380 9,762 10,142 - Total $ 6,680 $ 2,214 $ 6,410 $ 15,304 $ 946,121 $ 961,425 $ 566 The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) September 30, 2021 December 31, 2020 Residential real estate $ 3,575 $ 6,390 Home equity 448 476 Commercial real estate 6,263 5,390 Construction and land development - - Multifamily 394 504 Farmland - - Commercial business 347 1,039 Consumer - - Manufactured homes - - Government - - Total $ 11,027 $ 13,799 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 September 30, 2021, December 31, 2020, Accretable interest taken from the purchase credit impaired portfolio, or income recorded for the nine September 30, (dollars in thousands) Total 2020 $ 78 2021 21 Accretable interest taken from the purchase credit impaired portfolio, or income recorded for the three September 30, (dollars in thousands) Total 2020 $ 21 2021 - The accretable interest portion of the purchase credit impaired portfolio has fully amortized at September 30, 2021. As part of the fair value of loans receivable, there was a net fair value discount for loans acquired of $1.2 million at September 30, 2021, December 31, 2020. September 30, 2021, December 31, 2020, Accretable yield, or income recorded for the nine September 30, (dollars in thousands) Total 2020 $ 1,352 2021 793 Accretable yield, or income recorded for the three September 30, (dollars in thousands) Total 2020 $ 377 2021 188 Accretable yield, or income expected to be recorded in the future is as follows: (dollars in thousands) Total 2021 $ 196 2022 758 2023 271 Total $ 1,225 |
Note 5 - Foreclosed Real Estate
Note 5 - Foreclosed Real Estate | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | Note 5 Foreclosed real estate at period-end is summarized below: ( Dollars in thousands September 30, 2021 December 31, 2020 Residential real estate $ 81 $ 328 Commercial business - 210 Total $ 81 $ 538 |
Note 6 - Intangibles and Acquis
Note 6 - Intangibles and Acquisition Related Accounting | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 Intangibles and Acquisition Related Accounting The Bancorp established a goodwill balance totaling $11.1 million from past acquisitions. 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. Additionally, as part of the Bancorp’s annual impairment test of goodwill as of December 31, 2020, third December 31, 2020 not September 30, 2021 December 31, 2020. In addition to goodwill, core deposit intangibles were established from past acquisitions and are subject to amortization. As of September 30, 2021, Amortization recorded for the nine September 30, 2021 (dollars in thousands) Total Current period $ 745 Amortization recorded for the three September 30, 2021 (dollars in thousands) Total Current period $ 248 Amortization to be recorded in future periods, is as follows: (dollars in thousands) Total Remainder 2021 249 2022 983 2023 962 2024 919 2025 261 Total $ 3,374 |
Note 7 - Concentrations of Cred
Note 7 - Concentrations of Credit Risk | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 7 The primary lending area of the Bancorp encompasses Lake County in northwest Indiana and Cook County in northeast Illinois, where collectively a majority of loan activity is concentrated. The Bancorp is also an active lender in Porter County, and to a lesser extent, LaPorte, Newton and Jasper counties in Indiana; and DuPage, Lake, and Will counties in Illinois. Substantially all loans are secured by specific items of collateral including residences, commercial real estate, land development, business assets and consumer assets. |
Note 8 - Earnings Per Share
Note 8 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 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 and diluted earnings per common share computations for the three nine September 30, 2021, 2020, Three Months Ended Nine Months Ended (Dollars in thousands, except per share data) September 30, September 30, 2021 2020 2021 2020 Basic earnings per common share: Net income as reported $ 3,538 $ 4,687 $ 11,652 $ 12,651 Weighted average common shares outstanding 3,479,139 3,463,136 3,476,406 3,461,598 Basic earnings per common share $ 1.02 $ 1.35 $ 3.35 $ 3.65 Diluted earnings per common share: - Net income as reported $ 3,538 $ 4,687 $ 11,652 $ 12,651 Weighted average common shares outstanding 3,479,139 3,463,136 3,476,406 3,461,598 Weighted average common and dilutive potential common shares outstanding 3,479,139 3,463,136 3,476,406 3,461,598 Diluted earnings per common share $ 1.02 $ 1.35 $ 3.35 $ 3.65 |
Note 9 - Stock Based Compensati
Note 9 - Stock Based Compensation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 9 The Bancorp’s 2015 February 27, 2015, April 24, 2015, may As required by the Stock Compensation Topic, companies are required to record compensation cost for stock options and awards provided to employees in return for employment service. For the nine September 30, 2021, nine September 30, 2020. 2024 2021, 2022, 2023, 2024. There were 19,693 shares of restricted stock granted during the first nine 2021 first nine 2020. three five December 31, 2020, nine September 30, 2021, Non-vested Shares Shares Weighted Average Grant Date Fair Value 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 Non-vested at January 1, 2021 36,828 $ 40.11 Granted 19,693 40.96 Vested (13,493 ) 34.84 Forfeited (355 ) 41.50 Non-vested at September 30, 2021 42,673 $ 42.16 |
Note 10 - Change in Accounting
Note 10 - Change in Accounting Principles | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 10 Change in Accounting Principles 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 On January 1, 2020, 2018–13, 820 1 2 3 3 3 may 3 not In December 2019, 2019 12 740 not December 15, 2020. 2019 12 January 1, 2021 not |
Note 11 - Upcoming Accounting S
Note 11 - Upcoming Accounting Standards | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Description of Upcoming Accounting Pronouncements [Text Block] | Note 11 In June 2016, No. 2016 13, October 2019, December 15, 2022, December 31, 2023. first December 15, 2018, In March 2020, No. 2020 04 848 January 2021, 2021 01 848 March 12, 2020, December 31, 2022. December 31, 2020, December 31, 2022, not |
Note 12 - Derivative Financial
Note 12 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 12 Derivative Financial Instruments The Bancorp uses derivative financial instruments to help manage exposure to interest rate risk and the effects that changes in interest rates may 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: September 30, 2021 (Unaudited) Notational or Asset derivatives Liability derivatives contractual Statement of Financial Condition Statement of Financial Condition (Dollars in thousands) amount classification Fair value classification Fair value Interest rate swap contracts $ 98,855 Other assets $ 2,945 Other liabilties $ 2,945 Interest rate lock commitments 12,342 Other assets 222 N/A - Total $ 111,197 $ 3,167 $ 2,945 December 31, 2020 Notational or Asset derivatives Liability derivatives contractual Statement of Financial Condition Statement of Financial Condition (Dollars in thousands) amount classification Fair value 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 The following table shows the amounts included in the Statements of Income for non-hedging derivative financial instruments: Nine Months Ended Three Months Ended (Unaudited) September 30, September 30, (Dollars in thousands) Statement of Income Classification 2021 2020 2021 2020 Interest rate swap contracts Fees and service charges $ 379 $ 512 $ 161 $ 281 Interest rate lock commitments Gain on sale of loans held-for-sale, net (152 ) 309 (24 ) 11 Total $ 227 $ 821 $ 137 $ 292 The following table shows the offsetting of financial assets and derivative assets: Gross Amounts not Offset in the Statement of Financial Condition (Unaudited) (Dollars in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount September 30, 2021 Interest rate swap contracts $ 2,945 $ - $ 2,945 $ - $ - $ 2,945 Interest rate lock commitments 222 - 222 - - 222 Total $ 3,167 $ - $ 3,167 $ - $ - $ 3,167 Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral 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 The following table shows the offsetting of financial liabilities and derivative liabilities: Gross Amounts not Offset in the Statement of Financial Condition (Unaudited) (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount September 30, 2021 Interest rate swap contracts $ 2,945 $ - $ 2,945 $ - $ 3,930 $ (985 ) Total $ 2,945 $ - $ 2,945 $ - $ 3,930 $ (985 ) Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral 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 ) |
Note 13 - Fair Value
Note 13 - Fair Value | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 13 The Fair Value Measurements 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 GAAP. Impairment is other-than-temporary if the decline in the fair value 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 pooled trust preferred securities. The analysis is performed annually during December December 31, 2020. December 31, 2021. The table below shows the credit loss roll forward on a year-to-date basis 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 (Dollars in thousands) impairment Ending balance, December 31, 2020 $ 173 Additions not previously recognized - Ending balance, September 30, 2021 $ 173 At September 30, 2021, not not Assets and Liabilities Measured at Fair Value on a Recurring Basis There were no 1 2 nine September 30, 2021. Fair Value Measurements at September 30, 2021 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: U.S. government sponsored entities 10,761 - 10,761 - U.S. treasury securities 401 - 401 - Collateralized mortgage obligations and residential mortgage-backed securities 198,485 - 198,485 - Municipal securities 320,352 - 320,352 - Collateralized debt obligations 1,011 - - 1,011 Total securities available-for-sale $ 531,010 $ - $ 529,999 $ 1,011 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 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 A roll forward of available-for-sale securities, which require significant adjustment based on unobservable data, are presented in the following table: (Dollars in thousands) Estimated Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for- Beginning balance, January 1, 2020 $ 1,076 Principal payments (20 ) Total unrealized losses, included in other comprehensive income.. (127 ) Ending balance, December 31, 2020 $ 929 Beginning balance, January 1, 2021 $ 929 Principal payments (9 ) Total unrealized gains, included in other comprehensive income.... 91 Ending balance, September 30, 2021 $ 1,011 Assets measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at September 30, 2021 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 9,525 $ - $ - $ 9,525 Foreclosed real estate 81 - - 81 (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 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 a present value of cash flows or, for collateral dependent loans, based on recent real estate appraisals. Appraisals may September 30, 2021. December 31, 2020. 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 September 30, 2021 Estimated Fair Value Measurements at September 31, 2021 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 31,765 $ 31,765 $ 31,765 $ - $ - Certificates of deposit in other financial institutions 977 962 - 962 - Securities available-for-sale 531,010 531,010 - 529,999 1,011 Loans held-for-sale 3,868 3,968 3,968 - - Loans receivable, net 942,578 943,571 - - 943,571 Federal Home Loan Bank stock 3,247 3,247 - 3,247 - Interest rate swap agreements 2,945 2,945 - 2,945 - Accrued interest receivable 5,259 5,259 - 5,259 - Financial liabilities: Non-interest bearing deposits 287,376 287,376 287,376 - - Interest bearing deposits 1,118,824 1,119,137 854,927 264,210 - Repurchase agreements 23,844 23,853 22,106 1,747 - Interest rate swap agreements 2,945 2,945 - 2,945 - Accrued interest payable 36 36 - 36 - 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 952,688 982,793 - - 982,793 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 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended September 30, 2021 December 31, 2020: 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 14 - Acquisition Activity
Note 14 - Acquisition Activity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 14 On July 28, 2021, Subject to the approval of the Merger by Finward’s and RYFL’s respective stockholders, regulatory approvals, and other customary closing conditions, the parties anticipate completing the Merger during the first 2022. Upon completion of the Merger, each RYFL stockholder will have the right to receive, at the stockholder’s election, 0.4609 shares of Finward common stock or $20.14 in cash, or a combination of both, for each share of RYFL’s common stock, subject to allocation provisions and adjustment. Stockholders holding less than 101 shares of RYFL common stock will only have the right to receive fixed consideration of $20.14 in cash and will not Robert W. Youman, a current director of RYFL, will be appointed to the boards of directors of Finward and Peoples Bank effective as of the closing of the Merger. RYFL has a home office and eight June 30, 2021, |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As of December 31, 2020 As Reported Adjustment As Revised Loans receivable $ 966,578 $ (1,432 ) $ 965,146 Net loans receivable 954,120 (1,432 ) 952,688 Other assets 13,681 199 13,880 Total assets 1,497,525 (1,233 ) 1,496,292 Retained earnings 112,494 (1,233 ) 111,261 Total shareholders' equity 152,922 (1,233 ) 151,689 Total liabilities and stockholders' equity 1,497,525 (1,233 ) 1,496,292 Three months ended September 30, 2020 As Reported Adjustment As Revised Compensation and benefits $ 5,263 $ 254 $ 5,517 Total noninterest expense 9,781 254 10,035 Income before income tax expense 5,913 (254 ) 5,659 Income tax expenses 1,010 (38 ) 972 Net income 4,903 (216 ) 4,687 Earnings per common share: Basic 1.42 (0.07 ) 1.35 Diluted 1.42 (0.07 ) 1.35 Nine months ended September 30, 2020 As Reported Adjustment As Revised Compensation and benefits $ 15,851 $ 596 $ 16,447 Total noninterest expense 29,544 596 30,140 Income before income tax expense 15,806 (596 ) 15,210 Income tax expenses 2,648 (89 ) 2,559 Net income 13,158 (507 ) 12,651 Earnings per common share: Basic 3.80 (0.15 ) 3.65 Diluted 3.80 (0.15 ) 3.65 Three months ended September 30, 2020 As Reported Adjustment As Revised Net income $ 4,903 $ (216 ) $ 4,687 Comprehensive income, net of tax 4,727 (216 ) 4,511 Nine months ended September 30, 2020 As Reported Adjustment As Revised Net income $ 13,158 $ (507 ) $ 12,651 Comprehensive income, net of tax 17,835 (507 ) 17,328 Balance at January 1, 2020 As Reported Adjustment As Revised Retained earnings $ 100,185 $ (561 ) $ 99,624 Total equity 134,103 (561 ) 133,542 For the nine months ending September 30, 2020 Net income 13,158 (507 ) 12,651 Retained earnings 110,122 (1,068 ) 109,054 Total equity 148,941 (1,068 ) 147,873 For the quarter ending June 30, 2020 Retained earnings 106,293 (852 ) 105,441 Total equity 145,181 (852 ) 144,329 For the quarter ending September 30, 2020 Net income 4,903 (216 ) 4,687 Retained earnings 110,122 (1,068 ) 109,054 Total equity 148,941 (1,068 ) 147,873 Balance at January 1, 2021 Retained earnings 112,494 (1,233 ) 111,261 Total equity 152,922 (1,233 ) 151,689 Nine months ended September 30, 2020 As Reported Adjustment As Revised Net income $ 13,158 $ (507 ) $ 12,651 Net change in other assets (1,593 ) (89 ) (1,682 ) Net cash - operating activities 19,852 (596 ) 19,256 Net change in loan (60,982 ) 596 (60,386 ) Net cash - investing activities (111,293 ) 596 (110,697 ) |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Debt Securities, Available-for-sale [Table Text Block] | (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair Basis Gains Losses Value September 30, 2021 U.S. government sponsored entities 10,883 8 (130 ) 10,761 U.S. treasury securities 401 - - 401 Collateralized mortgage obligations and residential mortgage-backed securities 199,749 1,559 (2,823 ) 198,485 Municipal securities 314,511 8,496 (2,655 ) 320,352 Collateralized debt obligations 2,173 - (1,162 ) 1,011 Total securities available-for-sale $ 527,717 $ 10,063 $ (6,770 ) $ 531,010 (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 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent September 30, 2021 Value Yield (%) Due in one year or less $ 401 0.63 Due from one to five years 3,817 4.39 Due from five to ten years 28,638 2.63 Due over ten years 299,669 2.91 Collateralized mortgage obligations and residential mortgage-backed securities 198,485 1.62 Total $ 531,010 2.42 |
Schedule of Realized Gain (Loss) [Table Text Block] | (Dollars in thousands) September 30, September 30, 2021 2020 Proceeds $ 9,275 $ 4,144 Gross gains 591 197 Gross losses (1 ) - (Dollars in thousands) September 30, September 30, 2021 2020 Proceeds $ 28,565 $ 39,242 Gross gains 1,297 1,433 Gross losses (21 ) (59 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized Ending balance, December 31, 2020 $ 10,441 Current period change (7,833 ) Ending balance, September 30, 2021 $ 2,608 |
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 September 30, 2021 U.S. government sponsored entities $ 8,753 $ (130 ) $ - $ - $ 8,753 $ (130 ) Collateralized mortgage obligations and residential mortgage-backed securities 133,551 (2,693 ) 2,740 (130 ) 136,291 (2,823 ) Municipal securities 133,340 (2,655 ) - - 133,340 (2,655 ) Collateralized debt obligations - - 1,011 (1,162 ) 1,011 (1,162 ) Total temporarily impaired $ 275,644 $ (5,478 ) $ 3,751 $ (1,292 ) $ 279,395 $ (6,770 ) Number of securities 211 3 214 (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 |
Note 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollars in thousands) September 30, 2021 December 31, 2020 Loans secured by real estate: Residential real estate $ 268,798 $ 286,048 Home equity 35,652 39,233 Commercial real estate 309,905 298,257 Construction and land development 110,289 93,562 Multifamily 56,869 50,571 Farmland 205 215 Total loans secured by real estate 781,718 767,886 Commercial business 125,922 158,140 Consumer 650 1,025 Manufactured homes 32,857 24,232 Government 9,841 10,142 Subtotal 950,988 961,425 Less: Net deferred loan origination fees 5,579 3,871 Undisbursed loan funds (215 ) (150 ) Loans receivable $ 956,352 $ 965,146 |
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 three months ended September 30, 2021: Allowance for loan losses: Residential real estate $ 2,294 $ (28 ) $ 21 $ 188 $ 2,475 Home equity 371 - - 3 374 Commercial real estate 5,939 - - 413 6,352 Construction and land development 1,798 - - 90 1,888 Multifamily 740 - - 47 787 Farmland - - - - - Commercial business 2,474 - 6 (594 ) 1,886 Consumer 23 (4 ) 1 (8 ) 12 Manufactured homes - - - - - Government - - - - - Total $ 13,639 $ (32 ) $ 28 $ 139 $ 13,774 Allowance for loan losses: Residential real estate $ 1,708 $ - $ 5 $ 170 $ 1,883 Home equity 231 - - (19 ) 212 Commercial real estate 3,712 - - 675 4,387 Construction and land development 1,201 - - (29 ) 1,172 Multifamily 609 - - (59 ) 550 Farmland - - - - - Commercial business 2,375 - - 113 2,488 Consumer 30 (9 ) 3 (2 ) 22 Manufactured homes - - - - - Government - - - - - Total $ 9,866 $ (9 ) $ 8 $ 849 $ 10,714 Allowance for loan losses: Residential real estate $ 2,211 $ (32 ) $ 46 $ 250 $ 2,475 Home equity 276 (1 ) - 99 374 Commercial real estate 5,406 - - 946 6,352 Construction and land development 1,405 - - 483 1,888 Multifamily 626 - - 161 787 Farmland - - - - - Commercial business 2,508 - 25 (647 ) 1,886 Consumer 26 (21 ) 6 1 12 Manufactured homes - - - - - Government - - - - - Total $ 12,458 $ (54 ) $ 77 $ 1,293 $ 13,774 Allowance for loan losses: Residential real estate $ 1,812 $ (2 ) $ 15 $ 58 $ 1,883 Home equity 223 - - (11 ) 212 Commercial real estate 3,773 (80 ) - 694 4,387 Construction and land development 1,098 (17 ) - 91 1,172 Multifamily 529 - - 21 550 Farmland - - - - - Commercial business 1,504 (78 ) 17 1,045 2,488 Consumer 43 (22 ) 11 (10 ) 22 Manufactured homes - - - - - Government 17 - - (17 ) - Total $ 8,999 $ (199 ) $ 43 $ 1,871 $ 10,714 |
Financing Receivable, Impairment Evaluation [Table Text Block] | Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Individually evaluated for impairment Purchased credit impaired individually evaluated for impairment Collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at September 30, 2021: Residential real estate $ 12 $ 2,463 $ 268,798 $ 538 $ 1,063 $ 267,197 Home equity 4 370 35,652 156 141 35,355 Commercial real estate 1,579 4,773 309,905 7,021 - 302,884 Construction and land development - 1,888 110,289 - - 110,289 Multifamily - 787 56,869 - 577 56,292 Farmland - - 205 - - 205 Commercial business 309 1,577 125,922 830 1,103 123,989 Consumer - 12 650 - - 650 Manufactured homes - - 32,857 - - 32,857 Government - - 9,841 - - 9,841 Total $ 1,904 $ 11,870 $ 950,988 $ 8,545 $ 2,884 $ 939,559 Residential real estate $ 173 $ 2,038 $ 286,048 $ 868 $ 1,297 $ 283,883 Home equity 1 275 39,233 216 137 38,880 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 1,996 158,140 1,086 1,160 155,894 Consumer - 26 1,025 - - 1,025 Manufactured homes - - 24,232 - - 24,232 Government - - 10,142 - - 10,142 Total $ 1,775 $ 10,683 $ 961,425 $ 8,455 $ 3,366 $ 949,604 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Exposure - Credit Risk Portfolio By Creditworthiness Category September 30, 2021 (Dollars in thousands) 1 5 6 7 8 Loan Segment Pass Pass/monitor Special mention Substandard Total Residential real estate $ 227,505 $ 34,285 $ 3,282 $ 3,726 $ 268,798 Home equity 33,844 728 616 464 35,652 Commercial real estate 230,839 57,388 13,615 8,063 309,905 Construction and land development 88,574 18,072 3,643 - 110,289 Multifamily 50,652 5,570 253 394 56,869 Farmland - 205 - - 205 Commercial business 103,791 20,013 1,407 711 125,922 Consumer 650 - - - 650 Manufactured homes 32,063 734 60 - 32,857 Government 9,841 - - - 9,841 Total $ 777,759 $ 136,995 $ 22,876 $ 13,358 $ 950,988 December 31, 2020 (Dollars in thousands) 1 5 6 7 8 Loan Segment Pass Pass/monitor Special mention Substandard Total Residential real estate $ 234,317 $ 41,805 $ 3,539 $ 6,387 $ 286,048 Home equity 37,044 933 761 495 39,233 Commercial real estate 222,892 55,202 11,983 8,180 298,257 Construction and land development 77,855 12,055 3,652 - 93,562 Multifamily 43,594 5,065 1,408 504 50,571 Farmland - 215 - - 215 Commercial business 135,671 20,067 1,341 1,061 158,140 Consumer 1,025 - - - 1,025 Manufactured homes 23,501 731 - - 24,232 Government 10,142 - - - 10,142 Total $ 786,041 $ 136,073 $ 22,684 $ 16,627 $ 961,425 |
Impaired Financing Receivables [Table Text Block] | For the nine months ended For the three months ended As of September 30, 2021 September 30, 2021 September 30, 2021 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,558 $ 2,917 $ - $ 1,691 $ 83 $ 1,565 $ 41 Home equity 275 288 - 307 7 273 2 Commercial real estate 1,185 1,185 - 1,268 39 1,362 13 Construction and land development - - - - - - - Multifamily 577 665 - 647 20 587 9 Farmland - - - - - - - Commercial business 1,299 1,435 - 1,410 33 1,354 (3 ) Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - With an allowance recorded: Residential real estate $ 43 $ 43 $ 12 $ 159 $ 1 $ 102 $ (4 ) Home equity 22 22 4 17 1 22 1 Commercial real estate 5,836 5,836 1,579 5,700 145 5,852 32 Construction and land development - - - - - - - Multifamily - - - - - - - Farmland - - - - - - - Commercial business 634 634 309 698 15 659 (7 ) Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - Total: Residential real estate $ 1,601 $ 2,960 $ 12 $ 1,850 $ 84 $ 1,667 $ 37 Home equity $ 297 $ 310 $ 4 $ 324 $ 8 $ 295 $ 3 Commercial real estate $ 7,021 $ 7,021 $ 1,579 $ 6,968 $ 184 $ 7,214 $ 45 Construction & land development $ - $ - $ - $ - $ - $ - $ - Multifamily $ 577 $ 665 $ - $ 647 $ 20 $ 587 $ 9 Farmland $ - $ - $ - $ - $ - $ - $ - Commercial business $ 1,933 $ 2,069 $ 309 $ 2,108 $ 48 $ 2,012 $ (10 ) Consumer $ - $ - $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - $ - $ - For the nine months ended For the three months ended As of December 31, 2020 September 30, 2020 September 30, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,895 $ 3,228 $ - $ 2,061 $ 81 $ 2,000 $ 32 Home equity 352 363 - 378 13 366 4 Commercial real estate 1,177 1,761 - 1,338 65 1,155 18 Construction & land development - - - - - - - Multifamily 716 798 - 775 23 758 9 Farmland - - - - - - - Commercial business 1,497 1,514 - 1,614 61 1,578 21 Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - With an allowance recorded: Residential real estate $ 270 $ 314 $ 173 $ 151 $ 4 $ 234 $ 3 Home equity 1 9 1 4 - 1 - Commercial real estate 5,164 5,164 1,089 1,346 1 2,673 - Construction & land development - - - - - - - Multifamily - - - - - - - Farmland - - - - - - - Commercial business 749 749 512 736 19 855 - Consumer - - - - - - - Manufactured homes - - - - - - - Government - - - - - - - Total: Residential real estate $ 2,165 $ 3,542 $ 173 $ 2,212 $ 85 $ 2,234 $ 35 Home equity $ 353 $ 372 $ 1 $ 382 $ 13 $ 367 $ 4 Commercial real estate $ 6,341 $ 6,925 $ 1,089 $ 2,684 $ 66 $ 3,828 $ 18 Construction & land development $ - $ - $ - $ - $ - $ - $ - Multifamily $ 716 $ 798 $ - $ 775 $ 23 $ 758 $ 9 Farmland $ - $ - $ - $ - $ - $ - $ - Commercial business $ 2,246 $ 2,263 $ 512 $ 2,350 $ 80 $ 2,433 $ 21 Consumer $ - $ - $ - $ - $ - $ - $ - Manufactured homes $ - $ - $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - $ - $ - |
Financing Receivable, Past Due [Table Text Block] | (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 September 30, 2021 Residential real estate $ 2,057 $ 242 $ 2,422 $ 4,721 $ 264,077 $ 268,798 $ 186 Home equity 332 203 448 983 34,669 35,652 30 Commercial real estate 1,712 931 1,159 3,802 306,103 309,905 55 Construction and land development - - - - 110,289 110,289 - Multifamily 77 273 115 465 56,404 56,869 - Farmland - - - - 205 205 - Commercial business 285 250 2,350 2,885 123,037 125,922 2,245 Consumer 4 - - 4 646 650 - Manufactured homes 347 241 - 588 32,269 32,857 - Government - - - - 9,841 9,841 - Total $ 4,814 $ 2,140 $ 6,494 $ 13,448 $ 937,540 $ 950,988 $ 2,516 December 31, 2020 Residential real estate $ 2,797 $ 1,119 $ 4,875 $ 8,791 $ 277,257 $ 286,048 $ 80 Home equity 616 323 416 1,355 37,878 39,233 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 1,210 156,930 158,140 - Consumer 2 - - 2 1,023 1,025 - Manufactured homes 303 173 - 476 23,756 24,232 - Government 380 - - 380 9,762 10,142 - Total $ 6,680 $ 2,214 $ 6,410 $ 15,304 $ 946,121 $ 961,425 $ 566 |
Financing Receivable, Nonaccrual [Table Text Block] | (Dollars in thousands) September 30, 2021 December 31, 2020 Residential real estate $ 3,575 $ 6,390 Home equity 448 476 Commercial real estate 6,263 5,390 Construction and land development - - Multifamily 394 504 Farmland - - Commercial business 347 1,039 Consumer - - Manufactured homes - - Government - - Total $ 11,027 $ 13,799 |
Schedule of Accretable Yield from Financing Receivables [Table Text Block] | (dollars in thousands) Total 2020 $ 78 2021 21 (dollars in thousands) Total 2020 $ 21 2021 - (dollars in thousands) Total 2020 $ 1,352 2021 793 (dollars in thousands) Total 2020 $ 377 2021 188 (dollars in thousands) Total 2021 $ 196 2022 758 2023 271 Total $ 1,225 |
Note 5 - Foreclosed Real Esta_2
Note 5 - Foreclosed Real Estate (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | ( Dollars in thousands September 30, 2021 December 31, 2020 Residential real estate $ 81 $ 328 Commercial business - 210 Total $ 81 $ 538 |
Note 6 - Intangibles and Acqu_2
Note 6 - Intangibles and Acquisition Related Accounting (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | (dollars in thousands) Total Current period $ 745 (dollars in thousands) Total Current period $ 248 (dollars in thousands) Total Remainder 2021 249 2022 983 2023 962 2024 919 2025 261 Total $ 3,374 |
Note 8 - Earnings Per Share (Ta
Note 8 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended (Dollars in thousands, except per share data) September 30, September 30, 2021 2020 2021 2020 Basic earnings per common share: Net income as reported $ 3,538 $ 4,687 $ 11,652 $ 12,651 Weighted average common shares outstanding 3,479,139 3,463,136 3,476,406 3,461,598 Basic earnings per common share $ 1.02 $ 1.35 $ 3.35 $ 3.65 Diluted earnings per common share: - Net income as reported $ 3,538 $ 4,687 $ 11,652 $ 12,651 Weighted average common shares outstanding 3,479,139 3,463,136 3,476,406 3,461,598 Weighted average common and dilutive potential common shares outstanding 3,479,139 3,463,136 3,476,406 3,461,598 Diluted earnings per common share $ 1.02 $ 1.35 $ 3.35 $ 3.65 |
Note 9 - Stock Based Compensa_2
Note 9 - Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Non-vested Shares Shares Weighted Average Grant Date Fair Value 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 Non-vested at January 1, 2021 36,828 $ 40.11 Granted 19,693 40.96 Vested (13,493 ) 34.84 Forfeited (355 ) 41.50 Non-vested at September 30, 2021 42,673 $ 42.16 |
Note 12 - Derivative Financia_2
Note 12 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | September 30, 2021 (Unaudited) Notational or Asset derivatives Liability derivatives contractual Statement of Financial Condition Statement of Financial Condition (Dollars in thousands) amount classification Fair value classification Fair value Interest rate swap contracts $ 98,855 Other assets $ 2,945 Other liabilties $ 2,945 Interest rate lock commitments 12,342 Other assets 222 N/A - Total $ 111,197 $ 3,167 $ 2,945 December 31, 2020 Notational or Asset derivatives Liability derivatives contractual Statement of Financial Condition Statement of Financial Condition (Dollars in thousands) amount classification Fair value 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 Nine Months Ended Three Months Ended (Unaudited) September 30, September 30, (Dollars in thousands) Statement of Income Classification 2021 2020 2021 2020 Interest rate swap contracts Fees and service charges $ 379 $ 512 $ 161 $ 281 Interest rate lock commitments Gain on sale of loans held-for-sale, net (152 ) 309 (24 ) 11 Total $ 227 $ 821 $ 137 $ 292 |
Offsetting Assets [Table Text Block] | Gross Amounts not Offset in the Statement of Financial Condition (Unaudited) (Dollars in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount September 30, 2021 Interest rate swap contracts $ 2,945 $ - $ 2,945 $ - $ - $ 2,945 Interest rate lock commitments 222 - 222 - - 222 Total $ 3,167 $ - $ 3,167 $ - $ - $ 3,167 Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral 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 |
Offsetting Liabilities [Table Text Block] | Gross Amounts not Offset in the Statement of Financial Condition (Unaudited) (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount September 30, 2021 Interest rate swap contracts $ 2,945 $ - $ 2,945 $ - $ 3,930 $ (985 ) Total $ 2,945 $ - $ 2,945 $ - $ 3,930 $ (985 ) Gross Amounts not Offset in the Statement of Financial Condition (Dollars in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral 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 ) |
Note 13 - Fair Value (Tables)
Note 13 - Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | (Dollars in Thousands) Collateralized debt obligations other-than-temporary (Dollars in thousands) impairment Ending balance, December 31, 2020 $ 173 Additions not previously recognized - Ending balance, September 30, 2021 $ 173 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2021 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: U.S. government sponsored entities 10,761 - 10,761 - U.S. treasury securities 401 - 401 - Collateralized mortgage obligations and residential mortgage-backed securities 198,485 - 198,485 - Municipal securities 320,352 - 320,352 - Collateralized debt obligations 1,011 - - 1,011 Total securities available-for-sale $ 531,010 $ - $ 529,999 $ 1,011 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 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 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (Dollars in thousands) Estimated Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for- Beginning balance, January 1, 2020 $ 1,076 Principal payments (20 ) Total unrealized losses, included in other comprehensive income.. (127 ) Ending balance, December 31, 2020 $ 929 Beginning balance, January 1, 2021 $ 929 Principal payments (9 ) Total unrealized gains, included in other comprehensive income.... 91 Ending balance, September 30, 2021 $ 1,011 |
Fair Value Measurements, Nonrecurring [Table Text Block] | (Dollars in thousands) Fair Value Measurements at September 30, 2021 Using (Dollars in thousands) Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impaired loans $ 9,525 $ - $ - $ 9,525 Foreclosed real estate 81 - - 81 (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 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2021 Estimated Fair Value Measurements at September 31, 2021 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Identical Assets Significant Significant Financial assets: Cash and cash equivalents $ 31,765 $ 31,765 $ 31,765 $ - $ - Certificates of deposit in other financial institutions 977 962 - 962 - Securities available-for-sale 531,010 531,010 - 529,999 1,011 Loans held-for-sale 3,868 3,968 3,968 - - Loans receivable, net 942,578 943,571 - - 943,571 Federal Home Loan Bank stock 3,247 3,247 - 3,247 - Interest rate swap agreements 2,945 2,945 - 2,945 - Accrued interest receivable 5,259 5,259 - 5,259 - Financial liabilities: Non-interest bearing deposits 287,376 287,376 287,376 - - Interest bearing deposits 1,118,824 1,119,137 854,927 264,210 - Repurchase agreements 23,844 23,853 22,106 1,747 - Interest rate swap agreements 2,945 2,945 - 2,945 - Accrued interest payable 36 36 - 36 - 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 952,688 982,793 - - 982,793 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 - |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation - Revision of Previously Issued Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Jan. 01, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Loans receivable | $ 956,352 | $ 956,352 | $ 965,146 | |||||||
Net loans receivable | 942,578 | 942,578 | 952,688 | |||||||
Other assets | 15,414 | 15,414 | 13,880 | |||||||
Total assets | 1,609,924 | 1,609,924 | 1,496,292 | |||||||
Retained earnings | 119,677 | 119,677 | 111,261 | |||||||
Total shareholders' equity | 152,569 | $ 147,873 | 152,569 | $ 147,873 | $ 155,569 | $ 151,689 | 151,689 | $ 144,329 | $ 133,542 | $ 133,542 |
Total liabilities and stockholders' equity | 1,609,924 | 1,609,924 | 1,496,292 | |||||||
Compensation and benefits | 6,042 | 5,517 | 17,624 | 16,447 | ||||||
Total noninterest expense | 12,401 | 10,035 | 33,904 | 30,140 | ||||||
Income before income tax expense | 3,806 | 5,659 | 13,060 | 15,210 | ||||||
Income tax expenses | 268 | 972 | 1,408 | 2,559 | ||||||
Net income | $ 3,538 | $ 4,687 | $ 11,652 | $ 12,651 | ||||||
Basic (in dollars per share) | $ 1.02 | $ 1.35 | $ 3.35 | $ 3.65 | ||||||
Diluted (in dollars per share) | $ 1.02 | $ 1.35 | $ 3.35 | $ 3.65 | ||||||
Comprehensive income, net of tax | $ (2,063) | $ 4,511 | $ 3,819 | $ 17,328 | ||||||
Net change in other assets | (1,591) | 1,682 | ||||||||
Net cash - operating activities | 16,559 | 19,256 | ||||||||
Net change in loan | (20,148) | 60,386 | ||||||||
Net cash - investing activities | (109,204) | (110,697) | ||||||||
Retained Earnings [Member] | ||||||||||
Total shareholders' equity | 119,677 | 109,054 | 119,677 | 109,054 | $ 117,219 | 111,261 | 111,261 | 105,441 | 99,624 | $ 99,624 |
Net income | 3,538 | 4,687 | 11,652 | 12,651 | ||||||
Comprehensive income, net of tax | ||||||||||
Previously Reported [Member] | ||||||||||
Loans receivable | 966,578 | |||||||||
Net loans receivable | 954,120 | |||||||||
Other assets | 13,681 | |||||||||
Total assets | 1,497,525 | |||||||||
Retained earnings | 112,494 | |||||||||
Total shareholders' equity | 148,941 | 148,941 | 152,922 | 152,922 | 145,181 | 134,103 | ||||
Total liabilities and stockholders' equity | 1,497,525 | |||||||||
Compensation and benefits | 5,263 | 15,851 | ||||||||
Total noninterest expense | 9,781 | 29,544 | ||||||||
Income before income tax expense | 5,913 | 15,806 | ||||||||
Income tax expenses | 1,010 | 2,648 | ||||||||
Net income | $ 4,903 | $ 13,158 | ||||||||
Basic (in dollars per share) | $ 1.42 | $ 3.80 | ||||||||
Diluted (in dollars per share) | $ 1.42 | $ 3.80 | ||||||||
Comprehensive income, net of tax | $ 4,727 | $ 17,835 | ||||||||
Net change in other assets | 1,593 | |||||||||
Net cash - operating activities | 19,852 | |||||||||
Net change in loan | 60,982 | |||||||||
Net cash - investing activities | (111,293) | |||||||||
Previously Reported [Member] | Retained Earnings [Member] | ||||||||||
Total shareholders' equity | 110,122 | 110,122 | 112,494 | 106,293 | 100,185 | |||||
Revision of Prior Period, Error Correction, Adjustment [Member] | ||||||||||
Loans receivable | (1,432) | |||||||||
Net loans receivable | (1,432) | |||||||||
Other assets | 199 | |||||||||
Total assets | (1,233) | |||||||||
Retained earnings | (1,233) | |||||||||
Total shareholders' equity | (1,068) | (1,068) | (1,233) | (1,233) | (852) | (561) | ||||
Total liabilities and stockholders' equity | $ (1,233) | |||||||||
Compensation and benefits | 254 | 596 | ||||||||
Total noninterest expense | 254 | 596 | ||||||||
Income before income tax expense | (254) | (596) | ||||||||
Income tax expenses | (38) | (89) | ||||||||
Net income | $ (216) | $ (507) | ||||||||
Basic (in dollars per share) | $ (0.07) | $ (0.15) | ||||||||
Diluted (in dollars per share) | $ (0.07) | $ (0.15) | ||||||||
Comprehensive income, net of tax | $ (216) | $ (507) | ||||||||
Net change in other assets | 89 | |||||||||
Net cash - operating activities | (596) | |||||||||
Net change in loan | (596) | |||||||||
Net cash - investing activities | 596 | |||||||||
Revision of Prior Period, Error Correction, Adjustment [Member] | Retained Earnings [Member] | ||||||||||
Total shareholders' equity | $ (1,068) | $ (1,068) | $ (1,233) | $ (852) | $ (561) |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 43.3 | $ 52.4 |
Note 3 - Securities - Available
Note 3 - Securities - Available for Sale Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 527,717 | $ 397,462 |
Available for sale securities, gross unrealized gains | 10,063 | 14,522 |
Available for sale securities, gross unrealized losses | (6,770) | (1,315) |
Total securities available-for-sale | 531,010 | 410,669 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 10,883 | |
Available for sale securities, gross unrealized gains | 8 | |
Available for sale securities, gross unrealized losses | (130) | |
Total securities available-for-sale | 10,761 | |
Money Market Funds [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 52,941 | |
Available for sale securities, gross unrealized gains | 0 | |
Available for sale securities, gross unrealized losses | 0 | |
Total securities available-for-sale | 52,941 | |
US Treasury Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 401 | 7,881 |
Available for sale securities, gross unrealized gains | 0 | 3 |
Available for sale securities, gross unrealized losses | 0 | (24) |
Total securities available-for-sale | 401 | 7,860 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 199,749 | 151,355 |
Available for sale securities, gross unrealized gains | 1,559 | 3,417 |
Available for sale securities, gross unrealized losses | (2,823) | (36) |
Total securities available-for-sale | 198,485 | 154,736 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 314,511 | 183,103 |
Available for sale securities, gross unrealized gains | 8,496 | 11,102 |
Available for sale securities, gross unrealized losses | (2,655) | (2) |
Total securities available-for-sale | 320,352 | 194,203 |
Collateralized Debt Obligations [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,173 | 2,182 |
Available for sale securities, gross unrealized gains | 0 | 0 |
Available for sale securities, gross unrealized losses | (1,162) | (1,253) |
Total securities available-for-sale | $ 1,011 | $ 929 |
Note 3 - Securities - Estimated
Note 3 - Securities - Estimated Fair Value of Available for Sale Securities, by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available for sale securities, due in one year or less, estimated fair value | $ 401 | |
Available for sale securities, due in one year or less, tax-equivalent yield | 0.63% | |
Available for sale securities, due from one to five years, estimated fair value | $ 3,817 | |
Available for sale securities, due from one to five years, tax-equivalent yield | 4.39% | |
Available for sale securities, due from five to ten years, estimated fair value | $ 28,638 | |
Available for sale securities, due from five to ten years, tax-equivalent yield | 2.63% | |
Available for sale securities, due over ten years, estimated fair value | $ 299,669 | |
Available for sale securities, due over ten years, tax-equivalent yield | 2.91% | |
Collateralized mortgage obligations and residential mortgage-backed securities, estimated fair value | $ 198,485 | |
Collateralized mortgage obligations and residential mortgage-backed securities, tax-equivalent yield | 1.62% | |
Total securities available-for-sale | $ 531,010 | $ 410,669 |
Available for sale securities, tax-equivalent yield | 2.42% |
Note 3 - Securities - Sales of
Note 3 - Securities - Sales of Available for Sale Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Proceeds | $ 9,275 | $ 4,144 | $ 28,565 | $ 39,242 |
Gross gains | 591 | 197 | 1,297 | 1,433 |
Gross losses | $ (1) | $ 0 | $ (21) | $ (59) |
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Ending balance | $ 10,441 | |||
Current period change | $ (5,601) | $ (176) | (7,833) | $ 4,677 |
Ending balance | $ 2,608 | $ 2,608 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities with Gross Unrealized Losses Not Recognized in Income (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Estimated fair value, less than 12 months | $ 275,644 | $ 18,792 |
Unrealized losses, less than 12 months | (5,478) | (62) |
Estimated fair value, 12 months or longer | 3,751 | 929 |
Unrealized losses, 12 months or longer | (1,292) | (1,253) |
Estimated fair value, total | 279,395 | 19,721 |
Unrealized losses, total | $ (6,770) | $ (1,315) |
Number of securities, unrealized losses, less than 12 months | 211 | 8 |
Number of securities, unrealized losses, 12 months or longer | 3 | 2 |
Number of securitiesunrealized losses, total | 214 | 10 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Estimated fair value, less than 12 months | $ 8,753 | $ 4,975 |
Unrealized losses, less than 12 months | (130) | (24) |
Estimated fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Estimated fair value, total | 8,753 | 4,975 |
Unrealized losses, total | (130) | (24) |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Estimated fair value, less than 12 months | 133,551 | 11,953 |
Unrealized losses, less than 12 months | (2,693) | (36) |
Estimated fair value, 12 months or longer | 2,740 | 0 |
Unrealized losses, 12 months or longer | (130) | 0 |
Estimated fair value, total | 136,291 | 11,953 |
Unrealized losses, total | (2,823) | (36) |
US States and Political Subdivisions Debt Securities [Member] | ||
Estimated fair value, less than 12 months | 133,340 | 1,864 |
Unrealized losses, less than 12 months | (2,655) | (2) |
Estimated fair value, 12 months or longer | 0 | 0 |
Unrealized losses, 12 months or longer | 0 | 0 |
Estimated fair value, total | 133,340 | 1,864 |
Unrealized losses, total | (2,655) | (2) |
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 | 1,011 | 929 |
Unrealized losses, 12 months or longer | (1,162) | (1,253) |
Estimated fair value, total | 1,011 | 929 |
Unrealized losses, total | $ (1,162) | $ (1,253) |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) $ in Thousands | 6 Months Ended | 9 Months Ended | ||
Jun. 30, 2021USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 5,579 | $ 3,871 | ||
Impaired Financing Receivable, Recorded Investment, Total | 11,400 | 11,800 | ||
Financial Asset Acquired with Credit Deterioration [Member] | ||||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 4,200 | 5,400 | ||
Impaired Financing Receivable, Recorded Investment, Total | 2,900 | 3,400 | ||
Financial Asset Acquired [Member] | ||||
Financing Receivable, Unamortized Purchase Premium (Discount) | (1,200) | (2,000) | ||
Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Financing Receivable, before Allowance for Credit Loss, Total | $ 78,300 | 106,600 | ||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||
Financing Receivable, Troubled Debt Restructuring | $ 37 | $ 51 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 2,960 | 3,542 | ||
Impaired Financing Receivable, Recorded Investment, Total | $ 1,601 | 2,165 | ||
Residential Portfolio Segment [Member] | Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | |||
Financing Receivable, Troubled Debt Restructuring | $ 148 | |||
Residential Portfolio Segment [Member] | Residential Mortgage [Member] | ||||
Loans Receivable, Maximum Percentage of Purchase Price or Appraised Value | 97.00% | |||
Loans Receivable, Percentage of Value in Excess Requiring Private Mortgage Insurance | 80.00% | |||
Loans Receivable, Percentage of Equity, Excess Does Not Require Private Mortgage Insurance | 20.00% | |||
Residential Portfolio Segment [Member] | Fixed Rate Residential Mortgage [Member] | ||||
Loans Receivable, Minimum Contractual Maturity to be Classified as Held for Sale (Year) | 15 years | |||
Home Equity Portfolio Segment [Member] | ||||
Loans Receivable, Maximum Percentage of Purchase Price or Appraised Value | 89.00% | |||
Loans Receivable, Maximum Percentage of Appraised Value of Improved Property | 85.00% | |||
Financing Receivable, Modifications, Number of Contracts | 1 | |||
Financing Receivable, Troubled Debt Restructuring | $ 23 | |||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 310 | 372 | ||
Impaired Financing Receivable, Recorded Investment, Total | $ 297 | 353 | ||
Home Equity Portfolio Segment [Member] | Maximum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 240 months | |||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans Receivable, Maximum Percentage of Purchase Price or Appraised Value | 80.00% | |||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||
Financing Receivable, Troubled Debt Restructuring | $ 601 | $ 145 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 7,021 | 6,925 | ||
Impaired Financing Receivable, Recorded Investment, Total | 7,021 | 6,341 | ||
Commercial Real Estate Portfolio Segment [Member] | Reduced Interest Rate and Extended Amortization [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | |||
Financing Receivable, Troubled Debt Restructuring | $ 835 | $ 287 | ||
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 20 years | |||
Loans Receivable, Balloon Feature, Period for Full Repayment (Year) | 10 years | |||
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 15 years | |||
Loans Receivable, Balloon Feature, Period for Full Repayment (Year) | 7 years | |||
Construction and Land Development Portfolio Segment [Member] | ||||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 0 | 0 | ||
Impaired Financing Receivable, Recorded Investment, Total | 0 | 0 | ||
Construction and Land Development Portfolio Segment [Member] | Residential Mortgage [Member] | ||||
Loans Receivable, Maximum Percentage of Purchase Price or Appraised Value | 89.00% | |||
Construction and Land Development Portfolio Segment [Member] | Residential Mortgage [Member] | Maximum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 1 year | |||
Construction and Land Development Portfolio Segment [Member] | Residential Mortgage [Member] | Minimum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 6 months | |||
Construction and Land Development Portfolio Segment [Member] | Commercial Real Estate [Member] | ||||
Loans Receivable, Maximum Percentage of Purchase Price or Appraised Value | 80.00% | |||
Construction and Land Development Portfolio Segment [Member] | Commercial Real Estate [Member] | Maximum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 2 years | |||
Manufactured Homes Portfolio Segment [Member] | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 5,000 | 3,800 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 0 | 0 | ||
Impaired Financing Receivable, Recorded Investment, Total | $ 0 | $ 0 | ||
Manufactured Homes Portfolio Segment [Member] | Maximum [Member] | ||||
Loans Receivable, Contractual Maturity (Month) | 25 years |
Note 4 - Loans Receivable - Loa
Note 4 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Total loans secured by real estate | $ 781,718 | $ 767,886 |
Total loans | 950,988 | 961,425 |
Net deferred loan origination fees | 5,579 | 3,871 |
Undisbursed loan funds | (215) | (150) |
Loans receivable | 956,352 | 965,146 |
Residential Portfolio Segment [Member] | ||
Total loans secured by real estate | 268,798 | 286,048 |
Total loans | 268,798 | 286,048 |
Home Equity Portfolio Segment [Member] | ||
Total loans secured by real estate | 35,652 | 39,233 |
Total loans | 35,652 | 39,233 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans secured by real estate | 309,905 | 298,257 |
Total loans | 309,905 | 298,257 |
Construction and Land Development Portfolio Segment [Member] | ||
Total loans secured by real estate | 110,289 | 93,562 |
Total loans | 110,289 | 93,562 |
Multifamily Portfolio Segment [Member] | ||
Total loans secured by real estate | 56,869 | 50,571 |
Total loans | 56,869 | 50,571 |
Farmland Portfolio Segment [Member] | ||
Total loans secured by real estate | 205 | 215 |
Total loans | 205 | 215 |
Commercial Portfolio Segment [Member] | ||
Total loans | 125,922 | 158,140 |
Consumer Portfolio Segment [Member] | ||
Total loans | 650 | 1,025 |
Manufactured Homes Portfolio Segment [Member] | ||
Total loans | 32,857 | 24,232 |
Net deferred loan origination fees | 5,000 | 3,800 |
Government Portfolio Segment [Member] | ||
Total loans | $ 9,841 | $ 10,142 |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses, by Loan Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Beginning Balance | $ 13,639 | $ 9,866 | $ 12,458 | $ 8,999 |
Charge-offs | (32) | (9) | (54) | (199) |
Recoveries | 28 | 8 | 77 | 43 |
Provisions | 139 | 849 | 1,293 | 1,871 |
Ending Balance | 13,774 | 10,714 | 13,774 | 10,714 |
Residential Portfolio Segment [Member] | ||||
Beginning Balance | 2,294 | 1,708 | 2,211 | 1,812 |
Charge-offs | (28) | 0 | (32) | (2) |
Recoveries | 21 | 5 | 46 | 15 |
Provisions | 188 | 170 | 250 | 58 |
Ending Balance | 2,475 | 1,883 | 2,475 | 1,883 |
Home Equity Portfolio Segment [Member] | ||||
Beginning Balance | 371 | 231 | 276 | 223 |
Charge-offs | 0 | 0 | (1) | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 3 | (19) | 99 | (11) |
Ending Balance | 374 | 212 | 374 | 212 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning Balance | 5,939 | 3,712 | 5,406 | 3,773 |
Charge-offs | 0 | 0 | 0 | (80) |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 413 | 675 | 946 | 694 |
Ending Balance | 6,352 | 4,387 | 6,352 | 4,387 |
Construction and Land Development Portfolio Segment [Member] | ||||
Beginning Balance | 1,798 | 1,201 | 1,405 | 1,098 |
Charge-offs | 0 | 0 | 0 | (17) |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 90 | (29) | 483 | 91 |
Ending Balance | 1,888 | 1,172 | 1,888 | 1,172 |
Multifamily Portfolio Segment [Member] | ||||
Beginning Balance | 740 | 609 | 626 | 529 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 47 | (59) | 161 | 21 |
Ending Balance | 787 | 550 | 787 | 550 |
Farmland Portfolio Segment [Member] | ||||
Beginning Balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 0 | 0 | 0 | 0 |
Ending Balance | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | ||||
Beginning Balance | 2,474 | 2,375 | 2,508 | 1,504 |
Charge-offs | 0 | 0 | 0 | (78) |
Recoveries | 6 | 0 | 25 | 17 |
Provisions | (594) | 113 | (647) | 1,045 |
Ending Balance | 1,886 | 2,488 | 1,886 | 2,488 |
Consumer Portfolio Segment [Member] | ||||
Beginning Balance | 23 | 30 | 26 | 43 |
Charge-offs | (4) | (9) | (21) | (22) |
Recoveries | 1 | 3 | 6 | 11 |
Provisions | (8) | (2) | 1 | (10) |
Ending Balance | 12 | 22 | 12 | 22 |
Manufactured Homes Portfolio Segment [Member] | ||||
Beginning Balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 0 | 0 | 0 | 0 |
Ending Balance | 0 | 0 | 0 | 0 |
Government Portfolio Segment [Member] | ||||
Beginning Balance | 0 | 0 | 0 | 17 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 0 | 0 | 0 | (17) |
Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Note 4 - Loans Receivable - Imp
Note 4 - Loans Receivable - Impairment Analysis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Allowance individually evaluated for impairment reserves | $ 1,904 | $ 1,775 |
Allowance collectively evaluated for impairment reserves | 11,870 | 10,683 |
Loans | 950,988 | 961,425 |
Loans receivable individually evaluated for impairment | 8,545 | 8,455 |
Loans receivable purchased credit impaired individually evaluated for impairment | 2,884 | 3,366 |
Loans receivable collectively evaluated for impairment | 939,559 | 949,604 |
Residential Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 12 | 173 |
Allowance collectively evaluated for impairment reserves | 2,463 | 2,038 |
Loans | 268,798 | 286,048 |
Loans receivable individually evaluated for impairment | 538 | 868 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,063 | 1,297 |
Loans receivable collectively evaluated for impairment | 267,197 | 283,883 |
Home Equity Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 4 | 1 |
Allowance collectively evaluated for impairment reserves | 370 | 275 |
Loans | 35,652 | 39,233 |
Loans receivable individually evaluated for impairment | 156 | 216 |
Loans receivable purchased credit impaired individually evaluated for impairment | 141 | 137 |
Loans receivable collectively evaluated for impairment | 35,355 | 38,880 |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 1,579 | 1,089 |
Allowance collectively evaluated for impairment reserves | 4,773 | 4,317 |
Loans | 309,905 | 298,257 |
Loans receivable individually evaluated for impairment | 7,021 | 6,190 |
Loans receivable purchased credit impaired individually evaluated for impairment | 0 | 151 |
Loans receivable collectively evaluated for impairment | 302,884 | 291,916 |
Construction and Land Development Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 1,888 | 1,405 |
Loans | 110,289 | 93,562 |
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 | 110,289 | 93,562 |
Multifamily Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 787 | 626 |
Loans | 56,869 | 50,571 |
Loans receivable individually evaluated for impairment | 0 | 95 |
Loans receivable purchased credit impaired individually evaluated for impairment | 577 | 621 |
Loans receivable collectively evaluated for impairment | 56,292 | 49,855 |
Farmland Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans | 205 | 215 |
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 | 205 | 215 |
Commercial Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 309 | 512 |
Allowance collectively evaluated for impairment reserves | 1,577 | 1,996 |
Loans | 125,922 | 158,140 |
Loans receivable individually evaluated for impairment | 830 | 1,086 |
Loans receivable purchased credit impaired individually evaluated for impairment | 1,103 | 1,160 |
Loans receivable collectively evaluated for impairment | 123,989 | 155,894 |
Consumer Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 12 | 26 |
Loans | 650 | 1,025 |
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 | 650 | 1,025 |
Manufactured Homes Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans | 32,857 | 24,232 |
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 | 32,857 | 24,232 |
Government Portfolio Segment [Member] | ||
Allowance individually evaluated for impairment reserves | 0 | 0 |
Allowance collectively evaluated for impairment reserves | 0 | 0 |
Loans | 9,841 | 10,142 |
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 | $ 9,841 | $ 10,142 |
Note 4 - Loans Receivable - Cre
Note 4 - Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loan Receivable | $ 950,988 | $ 961,425 |
Pass [Member] | ||
Loan Receivable | 777,759 | 786,041 |
Pass/monitor [Member] | ||
Loan Receivable | 136,995 | 136,073 |
Special Mention [Member] | ||
Loan Receivable | 22,876 | 22,684 |
Substandard [Member] | ||
Loan Receivable | 13,358 | 16,627 |
Residential Portfolio Segment [Member] | ||
Loan Receivable | 268,798 | 286,048 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 227,505 | 234,317 |
Residential Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 34,285 | 41,805 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 3,282 | 3,539 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 3,726 | 6,387 |
Home Equity Portfolio Segment [Member] | ||
Loan Receivable | 35,652 | 39,233 |
Home Equity Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 33,844 | 37,044 |
Home Equity Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 728 | 933 |
Home Equity Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 616 | 761 |
Home Equity Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 464 | 495 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan Receivable | 309,905 | 298,257 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 230,839 | 222,892 |
Commercial Real Estate Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 57,388 | 55,202 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 13,615 | 11,983 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 8,063 | 8,180 |
Construction and Land Development Portfolio Segment [Member] | ||
Loan Receivable | 110,289 | 93,562 |
Construction and Land Development Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 88,574 | 77,855 |
Construction and Land Development Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 18,072 | 12,055 |
Construction and Land Development Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 3,643 | 3,652 |
Construction and Land Development Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Loan Receivable | 56,869 | 50,571 |
Multifamily Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 50,652 | 43,594 |
Multifamily Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 5,570 | 5,065 |
Multifamily Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 253 | 1,408 |
Multifamily Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 394 | 504 |
Farmland Portfolio Segment [Member] | ||
Loan Receivable | 205 | 215 |
Farmland Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 0 | 0 |
Farmland Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 205 | 215 |
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 | 125,922 | 158,140 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 103,791 | 135,671 |
Commercial Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 20,013 | 20,067 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 1,407 | 1,341 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 711 | 1,061 |
Consumer Portfolio Segment [Member] | ||
Loan Receivable | 650 | 1,025 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 650 | 1,025 |
Consumer Portfolio Segment [Member] | Pass/monitor [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 | 32,857 | 24,232 |
Manufactured Homes Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 32,063 | 23,501 |
Manufactured Homes Portfolio Segment [Member] | Pass/monitor [Member] | ||
Loan Receivable | 734 | 731 |
Manufactured Homes Portfolio Segment [Member] | Special Mention [Member] | ||
Loan Receivable | 60 | 0 |
Manufactured Homes Portfolio Segment [Member] | Substandard [Member] | ||
Loan Receivable | 0 | 0 |
Government Portfolio Segment [Member] | ||
Loan Receivable | 9,841 | 10,142 |
Government Portfolio Segment [Member] | Pass [Member] | ||
Loan Receivable | 9,841 | 10,142 |
Government Portfolio Segment [Member] | Pass/monitor [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 ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Impaired Financing Receivable, Related Allowance | $ 1,900 | $ 1,900 | $ 1,800 | ||
Total, recorded investment | 11,400 | 11,400 | 11,800 | ||
Total, related allowance | 1,900 | 1,900 | 1,800 | ||
Residential Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 1,558 | 1,558 | 1,895 | ||
With no related allowance recorded, unpaid principal balance | 2,917 | 2,917 | 3,228 | ||
With no related allowance recorded, average recorded investment | 1,565 | $ 2,000 | 1,691 | $ 2,061 | |
With no related allowance recorded, interest income recognized | 41 | 32 | 83 | 81 | |
With an allowance recorded, recorded investment | 43 | 43 | 270 | ||
With an allowance recorded, unpaid principal balance | 43 | 43 | 314 | ||
Impaired Financing Receivable, Related Allowance | 12 | 12 | 173 | ||
With an allowance recorded, average recorded investment | 102 | 234 | 159 | 151 | |
With an allowance recorded, interest income recognized | 3 | 1 | 4 | ||
With an allowance recorded, interest expense recognized | (4) | ||||
Total, recorded investment | 1,601 | 1,601 | 2,165 | ||
Total, unpaid principal balance | 2,960 | 2,960 | 3,542 | ||
Total, average recorded investment | 1,667 | 2,234 | 1,850 | 2,212 | |
Total, interest income recognized | 37 | 35 | 84 | 85 | |
Total, related allowance | 12 | 12 | 173 | ||
Home Equity Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 275 | 275 | 352 | ||
With no related allowance recorded, unpaid principal balance | 288 | 288 | 363 | ||
With no related allowance recorded, average recorded investment | 273 | 366 | 307 | 378 | |
With no related allowance recorded, interest income recognized | 2 | 4 | 7 | 13 | |
With an allowance recorded, recorded investment | 22 | 22 | 1 | ||
With an allowance recorded, unpaid principal balance | 22 | 22 | 9 | ||
Impaired Financing Receivable, Related Allowance | 4 | 4 | 1 | ||
With an allowance recorded, average recorded investment | 22 | 1 | 17 | 4 | |
With an allowance recorded, interest income recognized | 1 | 0 | 1 | 0 | |
Total, recorded investment | 297 | 297 | 353 | ||
Total, unpaid principal balance | 310 | 310 | 372 | ||
Total, average recorded investment | 295 | 367 | 324 | 382 | |
Total, interest income recognized | 3 | 4 | 8 | 13 | |
Total, related allowance | 4 | 4 | 1 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 1,185 | 1,185 | 1,177 | ||
With no related allowance recorded, unpaid principal balance | 1,185 | 1,185 | 1,761 | ||
With no related allowance recorded, average recorded investment | 1,362 | 1,155 | 1,268 | 1,338 | |
With no related allowance recorded, interest income recognized | 13 | 18 | 39 | 65 | |
With an allowance recorded, recorded investment | 5,836 | 5,836 | 5,164 | ||
With an allowance recorded, unpaid principal balance | 5,836 | 5,836 | 5,164 | ||
Impaired Financing Receivable, Related Allowance | 1,579 | 1,579 | 1,089 | ||
With an allowance recorded, average recorded investment | 5,852 | 2,673 | 5,700 | 1,346 | |
With an allowance recorded, interest income recognized | 32 | 0 | 145 | 1 | |
Total, recorded investment | 7,021 | 7,021 | 6,341 | ||
Total, unpaid principal balance | 7,021 | 7,021 | 6,925 | ||
Total, average recorded investment | 7,214 | 3,828 | 6,968 | 2,684 | |
Total, interest income recognized | 45 | 18 | 184 | 66 | |
Total, related allowance | 1,579 | 1,579 | 1,089 | ||
Construction and Land Development Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 0 | 0 | 0 | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | 0 | ||
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
Total, recorded investment | 0 | 0 | 0 | ||
Total, unpaid principal balance | 0 | 0 | 0 | ||
Total, average recorded investment | 0 | 0 | 0 | 0 | |
Total, interest income recognized | 0 | 0 | 0 | 0 | |
Total, related allowance | 0 | 0 | 0 | ||
Multifamily Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 577 | 577 | 716 | ||
With no related allowance recorded, unpaid principal balance | 665 | 665 | 798 | ||
With no related allowance recorded, average recorded investment | 587 | 758 | 647 | 775 | |
With no related allowance recorded, interest income recognized | 9 | 9 | 20 | 23 | |
With an allowance recorded, recorded investment | 0 | 0 | 0 | ||
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
Total, recorded investment | 577 | 577 | 716 | ||
Total, unpaid principal balance | 665 | 665 | 798 | ||
Total, average recorded investment | 587 | 758 | 647 | 775 | |
Total, interest income recognized | 9 | 9 | 20 | 23 | |
Total, related allowance | 0 | 0 | 0 | ||
Farmland Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 0 | 0 | 0 | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | 0 | ||
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
Total, recorded investment | 0 | 0 | 0 | ||
Total, unpaid principal balance | 0 | 0 | 0 | ||
Total, average recorded investment | 0 | 0 | 0 | 0 | |
Total, interest income recognized | 0 | 0 | 0 | 0 | |
Total, related allowance | 0 | 0 | 0 | ||
Commercial Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 1,299 | 1,299 | 1,497 | ||
With no related allowance recorded, unpaid principal balance | 1,435 | 1,435 | 1,514 | ||
With no related allowance recorded, average recorded investment | 1,354 | 1,578 | 1,410 | 1,614 | |
With no related allowance recorded, interest income recognized | 21 | 33 | 61 | ||
With no related allowance recorded, interest expense recognized | (3) | ||||
With an allowance recorded, recorded investment | 634 | 634 | 749 | ||
With an allowance recorded, unpaid principal balance | 634 | 634 | 749 | ||
Impaired Financing Receivable, Related Allowance | 309 | 309 | 512 | ||
With an allowance recorded, average recorded investment | 659 | 855 | 698 | 736 | |
With an allowance recorded, interest income recognized | 0 | 15 | 19 | ||
With an allowance recorded, interest expense recognized | (7) | ||||
Total, recorded investment | 1,933 | 1,933 | 2,246 | ||
Total, unpaid principal balance | 2,069 | 2,069 | 2,263 | ||
Total, average recorded investment | 2,012 | 2,433 | 2,108 | 2,350 | |
Total, interest income recognized | 21 | 48 | 80 | ||
Total, interest expense recognized | (10) | ||||
Total, related allowance | 309 | 309 | 512 | ||
Consumer Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 0 | 0 | 0 | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | 0 | ||
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
Total, recorded investment | 0 | 0 | 0 | ||
Total, unpaid principal balance | 0 | 0 | 0 | ||
Total, average recorded investment | 0 | 0 | 0 | 0 | |
Total, interest income recognized | 0 | 0 | 0 | 0 | |
Total, related allowance | 0 | 0 | 0 | ||
Manufactured Homes Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 0 | 0 | 0 | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | 0 | ||
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
Total, recorded investment | 0 | 0 | 0 | ||
Total, unpaid principal balance | 0 | 0 | 0 | ||
Total, average recorded investment | 0 | 0 | 0 | 0 | |
Total, interest income recognized | 0 | 0 | 0 | 0 | |
Total, related allowance | 0 | 0 | 0 | ||
Government Portfolio Segment [Member] | |||||
With no related allowance recorded, recorded investment | 0 | 0 | 0 | ||
With no related allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
With no related allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With no related allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
With an allowance recorded, recorded investment | 0 | 0 | 0 | ||
With an allowance recorded, unpaid principal balance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, average recorded investment | 0 | 0 | 0 | 0 | |
With an allowance recorded, interest income recognized | 0 | 0 | 0 | 0 | |
Total, recorded investment | 0 | 0 | 0 | ||
Total, unpaid principal balance | 0 | 0 | 0 | ||
Total, average recorded investment | 0 | 0 | 0 | 0 | |
Total, interest income recognized | 0 | $ 0 | 0 | $ 0 | |
Total, related allowance | $ 0 | $ 0 | $ 0 |
Note 4 - Loans Receivable - Age
Note 4 - Loans Receivable - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans | $ 950,988 | $ 961,425 |
Recorded investments greater than 90 past due and still accruing | 2,516 | 566 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 4,814 | 6,680 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 2,140 | 2,214 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 6,494 | 6,410 |
Financial Asset, Past Due [Member] | ||
Loans | 13,448 | 15,304 |
Financial Asset, Not Past Due [Member] | ||
Loans | 937,540 | 946,121 |
Residential Portfolio Segment [Member] | ||
Loans | 268,798 | 286,048 |
Recorded investments greater than 90 past due and still accruing | 186 | 80 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 2,057 | 2,797 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 242 | 1,119 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 2,422 | 4,875 |
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 4,721 | 8,791 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 264,077 | 277,257 |
Home Equity Portfolio Segment [Member] | ||
Loans | 35,652 | 39,233 |
Recorded investments greater than 90 past due and still accruing | 30 | 29 |
Home Equity Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 332 | 616 |
Home Equity Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 203 | 323 |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 448 | 416 |
Home Equity Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 983 | 1,355 |
Home Equity Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 34,669 | 37,878 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 309,905 | 298,257 |
Recorded investments greater than 90 past due and still accruing | 55 | 437 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 1,712 | 1,172 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 931 | 237 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 1,159 | 680 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 3,802 | 2,089 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 306,103 | 296,168 |
Construction and Land Development Portfolio Segment [Member] | ||
Loans | 110,289 | 93,562 |
Recorded investments greater than 90 past due and still accruing | 0 | 20 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 0 | 471 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 20 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 0 | 491 |
Construction and Land Development Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 110,289 | 93,071 |
Multifamily Portfolio Segment [Member] | ||
Loans | 56,869 | 50,571 |
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] | ||
Loans | 77 | 94 |
Multifamily Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 273 | 266 |
Multifamily Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 115 | 150 |
Multifamily Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 465 | 510 |
Multifamily Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 56,404 | 50,061 |
Farmland Portfolio Segment [Member] | ||
Loans | 205 | 215 |
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] | ||
Loans | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 0 | 0 |
Farmland Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 205 | 215 |
Commercial Portfolio Segment [Member] | ||
Loans | 125,922 | 158,140 |
Recorded investments greater than 90 past due and still accruing | 2,245 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 285 | 845 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 250 | 96 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 2,350 | 269 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 2,885 | 1,210 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 123,037 | 156,930 |
Consumer Portfolio Segment [Member] | ||
Loans | 650 | 1,025 |
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] | ||
Loans | 4 | 2 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 4 | 2 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 646 | 1,023 |
Manufactured Homes Portfolio Segment [Member] | ||
Loans | 32,857 | 24,232 |
Recorded investments greater than 90 past due and still accruing | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans | 347 | 303 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 241 | 173 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 588 | 476 |
Manufactured Homes Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | 32,269 | 23,756 |
Government Portfolio Segment [Member] | ||
Loans | 9,841 | 10,142 |
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] | ||
Loans | 0 | 380 |
Government Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans | 0 | 0 |
Government Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans | 0 | 380 |
Government Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans | $ 9,841 | $ 9,762 |
Note 4 - Loans Receivable - L_2
Note 4 - Loans Receivable - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing receivables on nonaccrual status | $ 11,027 | $ 13,799 |
Residential Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 3,575 | 6,390 |
Home Equity Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 448 | 476 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 6,263 | 5,390 |
Construction and Land Development Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Multifamily Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 394 | 504 |
Farmland Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing receivables on nonaccrual status | 347 | 1,039 |
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) - First Personal Financial Corporation [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
2020, accretable yield collected | $ 377 | $ 1,352 | ||
2021, accretable yield collected | $ 188 | $ 793 | ||
2021, to be collected | 196 | |||
2022, to be collected | 758 | |||
2023, to be collected | 271 | |||
Total, to be collected | 1,225 | |||
Financial Asset Acquired with Credit Deterioration [Member] | ||||
2020, accretable yield collected | $ 21 | $ 78 | ||
2021, accretable yield collected | $ 0 | $ 21 |
Note 5 - Foreclosed Real Esta_3
Note 5 - Foreclosed Real Estate - Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Foreclosed real estate | $ 81 | $ 538 |
Residential Portfolio Segment [Member] | ||
Foreclosed real estate | 81 | 328 |
Commercial Business [Member] | ||
Foreclosed real estate | $ 0 | $ 210 |
Note 6 - Intangibles and Acqu_3
Note 6 - Intangibles and Acquisition Related Accounting (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Goodwill, Ending Balance | $ 11,109 | $ 11,109 |
Goodwill, Impairment Loss | 0 | $ 0 |
Core Deposits [Member] | ||
Finite-Lived Core Deposits, Gross | $ 3,600 |
Note 6 - Intangibles and Acqu_4
Note 6 - Intangibles and Acquisition Related Accounting - Annual Amortization (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021USD ($) | Sep. 30, 2021USD ($) | |
Remainder 2021 | $ 249 | $ 249 |
2022 | 983 | 983 |
2023 | 962 | 962 |
2024 | 919 | 919 |
2025 | 261 | 261 |
Total | 3,374 | 3,374 |
First Federal Savings and Loan [Member] | ||
Current period | $ 248 | $ 745 |
Note 8 - Earnings Per Share - R
Note 8 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income as reported | $ 3,538 | $ 4,687 | $ 11,652 | $ 12,651 |
Weighted average common shares outstanding (in shares) | 3,479,139 | 3,463,136 | 3,476,406 | 3,461,598 |
Basic earnings per common share (in dollars per share) | $ 1.02 | $ 1.35 | $ 3.35 | $ 3.65 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 3,479,139 | 3,463,136 | 3,476,406 | 3,461,598 |
Diluted earnings per common share (in dollars per share) | $ 1.02 | $ 1.35 | $ 3.35 | $ 3.65 |
Note 9 - Stock Based Compensa_3
Note 9 - Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Feb. 17, 2015 | |
Share-based Payment Arrangement, Expense | $ 428 | $ 309 | |
Share Based Compensation Expense, Estimated Future Compensation, Total | 950 | ||
Share Based Compensation Expense, Estimated For Remainder of Fiscal Year | 142 | ||
Share Based Compensation Expense, Estimated For Year One | 464 | ||
Share Based Compensation Expense, Estimated For Year Two | 291 | ||
Share Based Compensation Expense, Estimated For Year Three | $ 53 | ||
2015 Stock Option and Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 250,000 | ||
2015 Stock Option and Incentive Plan [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 19,693 | 13,243 | |
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 9 - Stock Based Compensa_4
Note 9 - Stock Based Compensation - Restricted Stock Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
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 |
Granted, shares (in shares) | 19,693 | 13,243 |
Granted, weighted average grant date fair value (in dollars per share) | $ 40.96 | $ 44.30 |
Vested, shares (in shares) | (13,493) | (6,400) |
Vested, weighted average grant date fair value (in dollars per share) | $ 34.84 | $ 27.50 |
Forfeited, shares (in shares) | (355) | (220) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 41.50 | $ 43.65 |
Non-vested, shares (in shares) | 42,673 | 36,828 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 42.16 | $ 40.11 |
Note 12 - Derivative Financia_3
Note 12 - Derivative Financial Instruments - Non-hedging Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Derivative assets, fair vale | $ 3,167 | $ 3,167 | $ 4,012 | ||
Derivative liabilities, fair vale | 2,945 | 2,945 | 3,638 | ||
Derivative instrument, gain (loss) | 137 | $ 292 | 227 | $ 821 | |
Not Designated as Hedging Instrument [Member] | |||||
Derivative, notational amount | 111,197 | 111,197 | 99,150 | ||
Interest Rate Swap [Member] | Fees and Service Charges [Member] | |||||
Derivative instrument, gain (loss) | 161 | 281 | 379 | 512 | |
Interest Rate Swap [Member] | Other Assets [Member] | |||||
Derivative assets, fair vale | 2,945 | 2,945 | 3,638 | ||
Interest Rate Swap [Member] | Other Liabilities [Member] | |||||
Derivative liabilities, fair vale | 2,945 | 2,945 | 3,638 | ||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative, notational amount | 98,855 | 98,855 | 72,707 | ||
Interest Rate Lock Commitments [Member] | Gain (Loss) on Sale of Loans Held-for-Sale, Net [Member] | |||||
Derivative instrument, gain (loss) | (24) | $ 11 | (152) | $ 309 | |
Interest Rate Lock Commitments [Member] | Other Assets [Member] | |||||
Derivative assets, fair vale | 222 | 222 | 374 | ||
Interest Rate Lock Commitments [Member] | Other Liabilities [Member] | |||||
Derivative liabilities, fair vale | 0 | 0 | 0 | ||
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | |||||
Derivative, notational amount | $ 12,342 | $ 12,342 | $ 26,443 |
Note 12 - Derivative Financia_4
Note 12 - Derivative Financial Instruments - Offset Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Gross amount of recognized assets | $ 3,167 | $ 4,012 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 3,167 | 4,012 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | 3,167 | 4,012 |
Interest Rate Swap [Member] | ||
Gross amount of recognized assets | 2,945 | 3,638 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 2,945 | 3,638 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | 2,945 | 3,638 |
Interest Rate Lock Commitments [Member] | ||
Gross amount of recognized assets | 222 | 374 |
Gross amounts offset in the statements of financial condition | 0 | 0 |
Net amount of assets presented in the statement of financial condition | 222 | 374 |
Financial instruments | 0 | 0 |
Cash collateral received | 0 | 0 |
Net amount | $ 222 | $ 374 |
Note 12 - Derivative Financia_5
Note 12 - Derivative Financial Instruments - Offset Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Gross amount of recognized liabilities | $ 2,945 | $ 3,638 |
Gross amounts offset in the statement of financial condition | 0 | 0 |
Net amount of liabilities present in the statement of financial condition | 2,945 | 3,638 |
Financial instruments | 0 | 0 |
Cash collateral pledged | 3,930 | 3,930 |
Net amount | (985) | |
Net amount | (292) | |
Interest Rate Swap [Member] | ||
Gross amount of recognized liabilities | 2,945 | 3,638 |
Gross amounts offset in the statement of financial condition | 0 | 0 |
Net amount of liabilities present in the statement of financial condition | 2,945 | 3,638 |
Financial instruments | 0 | 0 |
Cash collateral pledged | 3,930 | 3,930 |
Net amount | $ (985) | |
Net amount | $ (292) |
Note 13 - Fair Value (Details T
Note 13 - Fair Value (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Sep. 30, 2021 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | $ 0 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 397,462 | $ 527,717 |
Impaired Financing Receivable, Recorded Investment, Total | 11,800 | 11,400 |
Impaired Financing Receivable, Related Allowance | 1,800 | 1,900 |
Impaired Financing Receivable, Fair Value | $ 10,000 | 9,500 |
Trust Preferred Securities Debt [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 2,200 |
Note 13 - Fair Value - Credit L
Note 13 - Fair Value - Credit Loss Roll Forward for Trust Preferred Securities Classified with Other Than Temporary Impairment (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Ending balance, December 31, 2020 | $ 173 |
Additions not previously recognized | 0 |
Ending balance, September 30, 2021 | $ 173 |
Note 13 - Fair Value - Assets M
Note 13 - Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Total securities available-for-sale | $ 531,010 | $ 410,669 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Total securities available-for-sale | 10,761 | |
Money Market Funds [Member] | ||
Total securities available-for-sale | 52,941 | |
US Treasury Securities [Member] | ||
Total securities available-for-sale | 401 | 7,860 |
Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Total securities available-for-sale | 198,485 | 154,736 |
US States and Political Subdivisions Debt Securities [Member] | ||
Total securities available-for-sale | 320,352 | 194,203 |
Collateralized Debt Obligations [Member] | ||
Total securities available-for-sale | 1,011 | 929 |
Fair Value, Recurring [Member] | ||
Total securities available-for-sale | 531,010 | 410,669 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 52,941 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 529,999 | 356,799 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 1,011 | 929 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Total securities available-for-sale | 10,761 | 7,860 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 10,761 | 7,860 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Money Market Funds [Member] | ||
Total securities available-for-sale | 52,941 | |
Fair Value, Recurring [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 52,941 | |
Fair Value, Recurring [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 0 | |
Fair Value, Recurring [Member] | Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Total securities available-for-sale | 401 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 401 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | ||
Total securities available-for-sale | 198,485 | 154,736 |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 198,485 | 154,736 |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations and Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total securities available-for-sale | 320,352 | 194,203 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 320,352 | 194,203 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Debt Obligations [Member] | ||
Total securities available-for-sale | 1,011 | 929 |
Fair Value, Recurring [Member] | Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total securities available-for-sale | $ 1,011 | $ 929 |
Note 13 - Fair Value - Availabl
Note 13 - Fair Value - Available for Sale Securities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Beginning balance | $ 929 | $ 1,076 |
Principal payments | (9) | (20) |
Total unrealized gains (losses), included in other comprehensive income | 91 | (127) |
Ending balance | $ 1,011 | $ 929 |
Note 13 - Fair Value - Assets_2
Note 13 - Fair Value - Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Impaired Loans [Member] | ||
Assets, fair value | $ 9,525 | $ 10,046 |
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 | 9,525 | 10,046 |
Foreclosed Real Estate [Member] | ||
Assets, fair value | 81 | 538 |
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 | $ 81 | $ 538 |
Note 13 - Fair Value - Financia
Note 13 - Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Total securities available-for-sale | $ 531,010 | $ 410,669 |
Interest rate swap agreements | 3,167 | 4,012 |
Interest rate swap agreements | 2,945 | 3,638 |
Securities available-for-sale | 531,010 | 410,669 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 31,765 | 19,922 |
Certificates of deposit in other financial institutions | 977 | 1,897 |
Total securities available-for-sale | 531,010 | 410,669 |
Loans held-for-sale | 3,868 | 11,329 |
Loans receivable, net | 942,578 | 952,688 |
Federal Home Loan Bank stock | 3,247 | 3,918 |
Interest rate swap agreements | 2,945 | 3,638 |
Accrued interest receivable | 5,259 | 4,713 |
Non-interest bearing deposits | 287,376 | 241,620 |
Interest bearing deposits | 1,118,824 | 1,060,719 |
Repurchase agreements | 23,844 | 13,711 |
Interest rate swap agreements | 2,945 | 3,638 |
Accrued interest payable | 36 | 54 |
Securities available-for-sale | 531,010 | 410,669 |
Borrowed funds | 6,149 | |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 31,765 | 19,922 |
Certificates of deposit in other financial institutions | 962 | 1,868 |
Total securities available-for-sale | 531,010 | 410,669 |
Loans held-for-sale | 3,968 | 11,660 |
Loans receivable, net | 943,571 | 982,793 |
Federal Home Loan Bank stock | 3,247 | 3,918 |
Interest rate swap agreements | 2,945 | 3,638 |
Accrued interest receivable | 5,259 | 4,713 |
Non-interest bearing deposits | 287,376 | 241,620 |
Interest bearing deposits | 1,119,137 | 1,061,294 |
Repurchase agreements | 23,853 | 13,713 |
Interest rate swap agreements | 2,945 | 3,638 |
Accrued interest payable | 36 | 54 |
Securities available-for-sale | 531,010 | 410,669 |
Borrowed funds | 6,018 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 31,765 | 19,922 |
Certificates of deposit in other financial institutions | 0 | 0 |
Total securities available-for-sale | 0 | 52,941 |
Loans held-for-sale | 3,968 | 11,660 |
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 | 287,376 | 241,620 |
Interest bearing deposits | 854,927 | 775,891 |
Repurchase agreements | 22,106 | 11,976 |
Interest rate swap agreements | 0 | 0 |
Accrued interest payable | 0 | 0 |
Securities available-for-sale | 0 | 52,941 |
Borrowed funds | 0 | |
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 | 962 | 1,868 |
Total securities available-for-sale | 529,999 | 356,799 |
Loans held-for-sale | 0 | 0 |
Loans receivable, net | 0 | 0 |
Federal Home Loan Bank stock | 3,247 | 3,918 |
Interest rate swap agreements | 2,945 | 3,638 |
Accrued interest receivable | 5,259 | 4,713 |
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 264,210 | 285,403 |
Repurchase agreements | 1,747 | 1,737 |
Interest rate swap agreements | 2,945 | 3,638 |
Accrued interest payable | 36 | 54 |
Securities available-for-sale | 529,999 | 356,799 |
Borrowed funds | 6,018 | |
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 |
Total securities available-for-sale | 1,011 | 929 |
Loans held-for-sale | 0 | 0 |
Loans receivable, net | 943,571 | 982,793 |
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 |
Interest rate swap agreements | 0 | 0 |
Accrued interest payable | 0 | 0 |
Securities available-for-sale | $ 1,011 | 929 |
Borrowed funds | $ 0 |
Note 14 - Acquisition Activity
Note 14 - Acquisition Activity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Assets, Total | $ 1,609,924 | $ 1,496,292 | ||
Loans and Leases Receivable, Net Amount, Total | 942,578 | 952,688 | ||
Deposits, Total | $ 1,406,200 | $ 1,302,339 | ||
Royal Financial, Inc. [Member] | ||||
Assets, Total | $ 533,700 | |||
Loans and Leases Receivable, Net Amount, Total | 464,200 | |||
Deposits, Total | $ 466,300 | |||
Forecast [Member] | ||||
Assets, Total | $ 2,100,000 | |||
Loans and Leases Receivable, Net Amount, Total | 1,400,000 | |||
Deposits, Total | $ 1,900,000 | |||
Royal Financial, Inc. [Member] | Forecast [Member] | ||||
Business Combination, Shares Issued Per Share (in dollars per share) | $ 0.4609 | |||
Business Acquisition, Right to Receive, Share Price (in dollars per share) | $ 20.14 | |||
Business Combination, Maximum Number of Shares to Receive Cash (in shares) | 101 | |||
Business Acquisition, Maximum Right to Receive, Share Price (in dollars per share) | $ 20.14 |