Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Jul. 28, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000921183 | |
Entity Registrant Name | HMN FINANCIAL INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 0-24100 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 41-1777397 | |
Entity Address, Address Line One | 1016 Civic Center Drive N.W. | |
Entity Address, City or Town | Rochester, | |
Entity Address, State or Province | MN | |
Entity Address, Postal Zip Code | 55901 | |
City Area Code | 507 | |
Local Phone Number | 535-1200 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | HMNF | |
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 | 4,644,575 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 100,406 | $ 86,269 |
Securities available for sale | 211,534 | 148,090 |
Loans held for sale | 7,380 | 6,186 |
Loans receivable, net | 637,219 | 642,630 |
Accrued interest receivable | 2,135 | 3,102 |
Mortgage servicing rights, net | 3,160 | 3,043 |
Premises and equipment, net | 9,871 | 10,133 |
Goodwill | 802 | 802 |
Core deposit intangible | 23 | 57 |
Prepaid expenses and other assets | 6,154 | 7,241 |
Deferred tax asset, net | 2,342 | 2,027 |
Total assets | 981,026 | 909,580 |
Liabilities and Stockholders’ Equity | ||
Deposits | 862,282 | 795,204 |
Accrued interest payable | 106 | 140 |
Customer escrows | 2,382 | 1,998 |
Accrued expenses and other liabilities | 8,298 | 8,986 |
Total liabilities | 873,068 | 806,328 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Serial-preferred stock: ($.01 par value) authorized 500,000 shares; issued 0 | 0 | 0 |
Common stock ($.01 par value): Authorized 16,000,000 shares; issued 9,128,662 | 91 | 91 |
Additional paid-in capital | 40,484 | 40,480 |
Retained earnings, subject to certain restrictions | 125,795 | 117,849 |
Accumulated other comprehensive income | 462 | 1,282 |
Unearned employee stock ownership plan shares | (1,353) | (1,450) |
Treasury stock, at cost 4,484,087 and 4,359,552 shares | (57,521) | (55,000) |
Total stockholders’ equity | 107,958 | 103,252 |
Total liabilities and stockholders’ equity | 981,026 | 909,580 |
Collateralized Mortgage Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 165,886 | 101,464 |
Other Debt Obligations [Member] | ||
Assets | ||
Securities available for sale | $ 45,648 | $ 46,626 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Securities available for sale, amortized cost | $ 210,892 | $ 146,312 |
Serial-preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Serial-preferred stock, shares authorized (in shares) | 500,000 | 500,000 |
Serial-preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 16,000,000 | 16,000,000 |
Common stock, shares issued (in shares) | 9,128,662 | 9,128,662 |
Treasury stock, shares (in shares) | 4,484,087 | 4,359,552 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | $ 165,202 | $ 99,821 |
Other Debt Obligations [Member] | ||
Securities available for sale, amortized cost | $ 45,690 | $ 46,491 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Interest income: | ||||
Loans receivable | $ 7,557 | $ 7,427 | $ 14,917 | $ 14,667 |
Securities available for sale: | ||||
Mortgage-backed and related | 440 | 265 | 831 | 554 |
Other marketable | 62 | 171 | 169 | 383 |
Other | 35 | 20 | 66 | 123 |
Total interest income | 8,094 | 7,883 | 15,983 | 15,727 |
Interest expense: | ||||
Deposits | 410 | 745 | 863 | 1,637 |
Total interest expense | 410 | 745 | 863 | 1,637 |
Net interest income | 7,684 | 7,138 | 15,120 | 14,090 |
Provision for loan losses | (891) | 318 | (1,467) | 778 |
Net interest income after provision for loan losses | 8,575 | 6,820 | 16,587 | 13,312 |
Non-interest income: | ||||
Gain on sales of loans | 1,665 | 2,364 | 3,438 | 3,498 |
Other | 1,910 | 264 | 2,258 | 555 |
Total non-interest income | 4,742 | 3,594 | 7,997 | 6,065 |
Non-interest expense: | ||||
Compensation and benefits | 4,096 | 3,799 | 7,917 | 7,846 |
Occupancy and equipment | 1,104 | 1,111 | 2,211 | 2,234 |
Data processing | 368 | 321 | 715 | 629 |
Professional services | 283 | 447 | 486 | 934 |
Other | 1,129 | 975 | 2,130 | 2,011 |
Total non-interest expense | 6,980 | 6,653 | 13,459 | 13,654 |
Income before income tax expense | 6,337 | 3,761 | 11,125 | 5,723 |
Income tax expense | 1,809 | 1,070 | 3,179 | 1,647 |
Net income | 4,528 | 2,691 | 7,946 | 4,076 |
Other comprehensive income (loss), net of tax | 421 | 224 | (820) | 1,499 |
Comprehensive income available to common stockholders | $ 4,949 | $ 2,915 | $ 7,126 | $ 5,575 |
Basic earnings per common share (in dollars per share) | $ 1.01 | $ 0.58 | $ 1.76 | $ 0.88 |
Diluted earnings per common share (in dollars per share) | $ 1 | $ 0.58 | $ 1.74 | $ 0.88 |
Financial Service [Member] | ||||
Non-interest income: | ||||
Revenue from Contract with Customer | $ 783 | $ 669 | $ 1,522 | $ 1,383 |
Bank Servicing [Member] | ||||
Non-interest income: | ||||
Revenue from Contract with Customer | $ 384 | $ 297 | $ 779 | $ 629 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Unearned Employee Stock Ownership Plan Shares [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2019 | $ 91 | $ 40,365 | $ 107,547 | $ 46 | $ (1,643) | $ (53,758) | $ 92,648 |
Net income | 4,076 | 4,076 | |||||
Other comprehensive income (loss), net of tax | 1,499 | 1,499 | |||||
Stock repurchases | (360) | (360) | |||||
Restricted stock awards | (268) | 268 | 0 | ||||
Stock awards withheld for tax withholding | (60) | (60) | |||||
Amortization of restricted stock awards | 130 | 130 | |||||
Earned employee stock ownership plan shares | 85 | 97 | 182 | ||||
Balance at Jun. 30, 2020 | 91 | 40,312 | 111,623 | 1,545 | (1,546) | (53,910) | 98,115 |
Balance at Mar. 31, 2020 | 91 | 40,347 | 108,932 | 1,321 | (1,595) | (54,061) | 95,035 |
Net income | 2,691 | 2,691 | |||||
Other comprehensive income (loss), net of tax | 224 | 224 | |||||
Restricted stock awards | (151) | 151 | 0 | ||||
Amortization of restricted stock awards | 84 | 84 | |||||
Earned employee stock ownership plan shares | 32 | 49 | 81 | ||||
Balance at Jun. 30, 2020 | 91 | 40,312 | 111,623 | 1,545 | (1,546) | (53,910) | 98,115 |
Balance at Dec. 31, 2020 | 91 | 40,480 | 117,849 | 1,282 | (1,450) | (55,000) | 103,252 |
Net income | 7,946 | 7,946 | |||||
Other comprehensive income (loss), net of tax | (820) | (820) | |||||
Stock repurchases | (2,736) | (2,736) | |||||
Restricted stock awards | (222) | 222 | 0 | ||||
Stock awards withheld for tax withholding | (7) | (7) | |||||
Amortization of restricted stock awards | 121 | 121 | |||||
Earned employee stock ownership plan shares | 105 | 97 | 202 | ||||
Balance at Jun. 30, 2021 | 91 | 40,484 | 125,795 | 462 | (1,353) | (57,521) | 107,958 |
Balance at Mar. 31, 2021 | 91 | 40,405 | 121,267 | 41 | (1,401) | (55,339) | 105,064 |
Net income | 4,528 | 4,528 | |||||
Other comprehensive income (loss), net of tax | 421 | 421 | |||||
Stock repurchases | (2,213) | (2,213) | |||||
Restricted stock awards | (38) | 38 | 0 | ||||
Stock awards withheld for tax withholding | (7) | (7) | |||||
Amortization of restricted stock awards | 61 | 61 | |||||
Earned employee stock ownership plan shares | 56 | 48 | 104 | ||||
Balance at Jun. 30, 2021 | $ 91 | $ 40,484 | $ 125,795 | $ 462 | $ (1,353) | $ (57,521) | $ 107,958 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 7,946 | $ 4,076 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Provision for loan losses | (1,467) | 778 |
Depreciation | 507 | 570 |
Amortization of premiums, net | 425 | 58 |
Amortization of deferred loan fees | (1,327) | (170) |
Amortization of core deposit intangible | 600 | 700 |
Amortization of other purchased fair value adjustments | (15) | (19) |
Amortization of mortgage servicing rights | 574 | 621 |
Capitalized mortgage servicing rights | (691) | (1,096) |
(Gains) losses recognized on equity securities, net | (49) | 39 |
Gains on sale of premises | (15) | 0 |
(Gain) loss on sales of real estate | (1,492) | 2 |
Gain on sales of loans | (3,438) | (3,498) |
Proceeds from sale of loans held for sale | 95,028 | 120,978 |
Disbursements on loans held for sale | (87,885) | (117,307) |
Amortization of restricted stock awards | 121 | 130 |
Amortization of unearned Employee Stock Ownership Plan shares | 97 | 97 |
Earned Employee Stock Ownership Plan shares priced above original cost | 105 | 85 |
Decrease (increase) in accrued interest receivable | 967 | (1,129) |
Decrease in accrued interest payable | (34) | (149) |
Decrease in other assets | 584 | 1,230 |
(Decrease) increase in other liabilities | (711) | 1,467 |
Other, net | 5 | 4 |
Net cash provided by operating activities | 9,269 | 6,816 |
Cash flows from investing activities: | ||
Principal collected on securities available for sale | 16,534 | 6,047 |
Proceeds collected on maturities of securities available for sale | 25,762 | 30,875 |
Purchases of securities available for sale | (107,299) | (25,102) |
Purchase of Federal Home Loan Bank Stock | (159) | (79) |
Proceeds from sales of real estate | 2,128 | 34 |
Net decrease (increase) in loans receivable | 3,413 | (74,754) |
Proceeds from sale of premises | 16 | 0 |
Purchases of premises and equipment | (246) | (303) |
Net cash used by investing activities | (59,851) | (63,282) |
Cash flows from financing activities: | ||
Increase in deposits | 67,078 | 78,889 |
Purchase of treasury stock | (2,736) | (360) |
Stock awards withheld for tax withholding | (7) | (60) |
Increase (decrease) in customer escrows | 384 | (592) |
Net cash provided by financing activities | 64,719 | 77,877 |
Increase in cash and cash equivalents | 14,137 | 21,411 |
Cash and cash equivalents, beginning of period | 86,269 | 44,399 |
Cash and cash equivalents, end of period | 100,406 | 65,810 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | 897 | 1,786 |
Cash paid for income taxes | 3,301 | 1,240 |
Supplemental noncash flow disclosures: | ||
Loans transferred to loans held for sale | 4,806 | 1,987 |
Transfer of loans to real estate | 0 | 139 |
Core Deposits [Member] | ||
Adjustments to reconcile net income to cash provided by operating activities: | ||
Amortization of core deposit intangible | $ 34 | $ 49 |
Note 1 - HMN Financial, Inc.
Note 1 - HMN Financial, Inc. | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ( 1 HMN Financial, Inc. HMN Financial, Inc. (HMN or the Company) is a stock savings bank holding company that owns 100 percent of Home Federal Savings Bank (the Bank). The Bank has a community banking philosophy and operates retail banking and loan production facilities in Minnesota, Iowa and Wisconsin. The Bank has two wholly owned subsidiaries, Osterud Insurance Agency, Inc. (OIA), which does business as Home Federal Investment Services and offers financial planning products and services, and HFSB Property Holdings, LLC (HPH), which is currently inactive, but has acted in the past as an intermediary for the Bank in holding and operating certain foreclosed properties. The consolidated financial statements included herein are for HMN, the Bank, OIA and HPH. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain amounts in the consolidated financial statements for the prior year have been reclassified to conform to the current year presentation. |
Note 2 - Basis of Preparation
Note 2 - Basis of Preparation | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | ( 2 Basis of Preparation The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10 not six June 30, 2021 not may |
Note 3 - New Accounting Standar
Note 3 - New Accounting Standards | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | ( 3 New Accounting Standards In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 not December 15, 2019, On November 26, 2019, 2019 11, Codification Improvements to Topic 326, Credit Losses 2016 13 first 2020 first 2023. may December 15, 2018, not first 2023. On February 6, 2020, 2020 02, Financial Instruments-Credit Losses (Topic 326 842 No. 119 No. 2016 02, 842 Leases (Topic 842 not 326 326. 326 first 2023. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 4 ) Fair Value Measurements ASC 820, Fair Value Measurements, three Level 1 Level 2 not Level 3 not not The following table summarizes the assets and liabilities of the Company for which fair values are determined on a recurring basis as of June 30, 2021 December 31, 2020. Carrying Value at June 30, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 211,534 0 211,534 0 Equity securities 198 0 198 0 Mortgage loan commitments 186 0 186 0 Total $ 211,918 0 211,918 0 Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 148,090 0 148,090 0 Equity securities 149 0 149 0 Mortgage loan commitments 261 0 261 0 Total $ 148,500 0 148,500 0 There were no 1, 2 3 three six June 30, 2021. The Company may June 30, 2021 December 31, 2020. Carrying Value at June 30, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Three Months Ended June 30, 2021 Total Gains (Losses) Six Months Ended June 30, 2021 Total Gains (Losses) Loans held for sale $ 7,380 0 7,380 0 137 24 Mortgage servicing rights, net 3,160 0 3,160 0 0 0 Impaired loans 1,583 0 1,583 0 (59 ) (64 ) Total $ 12,123 0 12,123 0 78 (40 ) Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Year Ended December 31, 2020 Total Gains (Losses) Loans held for sale $ 6,186 0 6,186 0 28 Mortgage servicing rights, net 3,043 0 3,043 0 0 Impaired loans 2,888 0 2,888 0 (76 ) Real estate, net 636 0 636 0 0 Total $ 12,753 0 12,753 0 (48 ) |
Note 5 - Fair Value of Financia
Note 5 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | ( 5 Fair Value of Financial Instruments ASC 825, Disclosures about Fair Values of Financial Instruments June 30, 2021 December 31, 2020 no The estimated fair value of the Company’s financial instruments as of June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Fair Value Hierarchy Fair Value Hierarchy (Dollars in thousands) Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Amount Financial assets: Cash and cash equivalents $ 100,406 100,406 100,406 86,269 86,269 86,269 Securities available for sale 211,534 211,534 211,534 148,090 148,090 148,090 Equity securities 198 198 198 149 149 149 Loans held for sale 7,380 7,380 7,380 6,186 6,186 6,186 Loans receivable, net 637,219 640,968 640,968 642,630 648,275 648,275 Federal Home Loan Bank stock 1,092 1,092 1,092 932 932 932 Accrued interest receivable 2,135 2,135 2,135 3,102 3,102 3,102 Financial liabilities: Deposits 862,282 862,597 862,597 795,204 795,927 795,927 Accrued interest payable 106 106 106 140 140 140 Off-balance sheet financial instruments: Commitments to extend credit 186 186 209,513 261 261 180,330 Commitments to sell loans (68 ) (68 ) 25,652 (44 ) (44 ) 24,746 Cash and Cash Equivalents The carrying amount of cash and cash equivalents approximates their fair value. Securities Available for Sale The fair values of securities were based upon quoted market prices. Equity Securities The fair values of equity securities were based upon quoted market prices. Loans Held for Sale The fair values of loans held for sale were based upon quoted market prices for loans with similar interest rates and terms to maturity. Loans Receivable, net The fair value of the loan portfolio, with the exception of the adjustable rate portfolio, was calculated by discounting the scheduled cash flows through the estimated maturity using anticipated prepayment speeds and using discount rates that reflect the credit and interest rate risk inherent in each loan portfolio. The fair value of the adjustable loan portfolio was estimated by grouping the loans with similar characteristics and comparing the characteristics of each group to the prices quoted for similar types of loans in the secondary market. The fair value disclosures for both the fixed and adjustable rate portfolios were adjusted to reflect the exit price amount anticipated to be received from the sale of the portfolio in an open market transaction. Federal Home Loan Bank (FHLB) Stock The carrying amount of FHLB stock approximates its fair value. Accrued Interest Receivable The carrying amount of accrued interest receivable approximates its fair value since it is short-term in nature and does not Deposits The fair value of demand deposits, savings accounts and money market account deposits is the amount payable on demand at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. The fair value disclosures for all of the deposits were adjusted to reflect the exit price amount anticipated to be received from the sale of the deposits in an open market transaction. Accrued Interest Payable The carrying amount of accrued interest payable approximates its fair value since it is short-term in nature. Commitments to Extend Credit The fair values of commitments to extend credit are estimated using the fees normally charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counter parties. Commitments to Sell Loans The fair values of commitments to sell loans are estimated using the quoted market prices for loans with similar interest rates and terms to maturity. |
Note 6 - Other Comprehensive In
Note 6 - Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 6 Other Comprehensive Income (Loss) Other comprehensive income (loss) is defined as the change in equity during a period from transactions and other events from non-owner sources. Comprehensive income is the total of net income and other comprehensive income (loss), which for the Company is comprised of unrealized gains and losses on securities available for sale. The components of other comprehensive income (loss) and the related tax effects were as follows: For the Three Months Ended June 30, (Dollars in thousands) 2021 2020 Securities available for sale: Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Gross unrealized gains arising during the period $ 586 165 421 311 87 224 Other comprehensive income $ 586 165 421 311 87 224 For the Six Months Ended June 30, (Dollars in thousands) 2021 2020 Securities available for sale: Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Gross unrealized (losses) gains arising during the period $ (1,135 ) (315 ) (820 ) 2,081 582 1,499 Other comprehensive (loss) income $ (1,135 ) (315 ) (820 ) 2,081 582 1,499 |
Note 7 - Securities Available f
Note 7 - Securities Available for Sale | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 7 Securities Available For Sale The following table shows the gross unrealized losses and fair value for the securities available for sale portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2021 December 31, 2020. Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2021 Mortgage backed securities: Federal National Mortgage Association (FNMA) 11 $ 50,861 (271 ) 0 $ 0 0 $ 50,861 (271 ) Federal Home Loan Mortgage Corporation (FHLMC) 10 46,790 (173 ) 0 0 0 46,790 (173 ) Other marketable securities: U.S. Government agency obligations 7 34,906 (90 ) 0 0 0 34,906 (90 ) Corporate preferred stock 0 0 0 1 644 (56 ) 644 (56 ) Total temporarily impaired securities 28 $ 132,557 (534 ) 1 $ 644 (56 ) $ 133,201 (590 ) Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2020 Mortgage backed securities: FNMA 1 $ 4,956 (3 ) 0 $ 0 0 $ 4,956 (3 ) Other marketable securities: Corporate preferred stock 0 0 0 1 630 (70 ) 630 (70 ) Total temporarily impaired securities 1 $ 4,956 (3 ) 1 $ 630 (70 ) $ 5,586 (73 ) The Company reviews its investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the market liquidity for the investment, the financial condition and near-term prospects of the issuer, including any specific events which may June 30, 2021 June 30, 2021 not June 30, 2021 not may A summary of securities available for sale at June 30, 2021 December 31, 2020 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2021 Mortgage-backed securities: FNMA $ 98,253 917 (271 ) 98,899 FHLMC 66,889 207 (173 ) 66,923 Collateralized mortgage obligations: FNMA 60 4 0 64 165,202 1,128 (444 ) 165,886 Other marketable securities: U.S. Government agency obligations 44,990 104 (90 ) 45,004 Corporate preferred stock 700 0 (56 ) 644 45,690 104 (146 ) 45,648 $ 210,892 1,232 (590 ) 211,534 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2020 Mortgage-backed securities: FNMA $ 68,699 1,313 (3 ) 70,009 FHLMC 31,025 327 0 31,352 Collateralized mortgage obligations: FNMA 97 6 0 103 99,821 1,646 (3 ) 101,464 Other marketable securities: U.S. Government agency obligations 45,029 204 0 45,233 Municipal obligations 725 1 0 726 Corporate obligations 37 0 0 37 Corporate preferred stock 700 0 (70 ) 630 46,491 205 (70 ) 46,626 $ 146,312 1,851 (73 ) 148,090 June 30, 2021 (Dollars in thousands) Amortized Cost Fair Value Due less than one year $ 69,884 70,096 Due after one year through five years 117,826 118,219 Due after five years through ten years 22,403 22,495 Due after ten years 779 724 Total $ 210,892 211,534 The allocation of mortgage-backed securities in the table above is based upon the anticipated future cash flow of the securities using estimated mortgage prepayment speeds. The allocation of other marketable securities that have call features is based on the anticipated cash flows to the expected call date if it is anticipated that the security will be called, or to the maturity date if it is not |
Note 8 - Loans Receivable, Net
Note 8 - Loans Receivable, Net | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 8 Loans Receivable, Net A summary of loans receivable at June 30, 2021 December 31, 2020 (Dollars in thousands) June 30, 2021 December 31, 2020 Single family $ 150,270 135,023 Commercial real estate: Real estate rental and leasing 200,662 202,400 Other 176,949 178,304 377,611 380,704 Consumer 46,266 55,391 Commercial business 74,118 82,673 Total loans 648,265 653,791 Less: Unamortized discounts 11 12 Net deferred loan fees 1,120 450 Allowance for loan losses 9,915 10,699 Total loans receivable, net $ 637,219 642,630 |
Note 9 - Allowance for Loan Los
Note 9 - Allowance for Loan Losses and Credit Quality Information | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Allowance For Loan Losses And Credit Quality Information [Text Block] | ( 9 Allowance for Loan Losses and Credit Quality Information The allowance for loan losses is summarized as follows: (Dollars in thousands) Single Commercial Consumer Commercial Business Total For the three months ended June 30, 2021: Balance, March 31, 2021 $ 839 7,073 1,189 1,031 10,132 Provision for losses 90 (690 ) (166 ) (125 ) (891 ) Charge-offs 0 0 (11 ) 0 (11 ) Recoveries 0 650 27 8 685 Balance, June 30, 2021 $ 929 7,033 1,039 914 9,915 For the six months ended June 30, 2021: Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Provision for losses (101 ) (912 ) (336 ) (118 ) (1,467 ) Charge-offs 0 0 (42 ) 0 (42 ) Recoveries 0 650 28 47 725 Balance, June 30, 2021 $ 929 7,033 1,039 914 9,915 Allocated to: Specific allowance $ 29 95 100 14 238 General allowance 1,001 7,200 1,289 971 10,461 Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Allocated to: Specific allowance $ 68 135 51 9 263 General allowance 861 6,898 988 905 9,652 Balance, June 30, 2021 $ 929 7,033 1,039 914 9,915 Loans receivable at December 31, 2020: Individually reviewed for impairment $ 857 1,484 750 35 3,126 Collectively reviewed for impairment 134,166 379,220 54,641 82,638 650,665 Ending balance $ 135,023 380,704 55,391 82,673 653,791 Loans receivable at June 30, 2021: Individually reviewed for impairment $ 578 519 723 26 1,846 Collectively reviewed for impairment 149,692 377,092 45,543 74,092 646,419 Ending balance $ 150,270 377,611 46,266 74,118 648,265 (Dollars in thousands) Single Commercial Consumer Commercial Business Total For the three months ended June 30, 2020: Balance, March 31, 2020 $ 937 5,539 1,583 977 9,036 Provision for losses 1 556 (101 ) (138 ) 318 Charge-offs 0 (730 ) (34 ) 0 (764 ) Recoveries 0 17 16 26 59 Balance, June 30, 2020 $ 938 5,382 1,464 865 8,649 For the six months ended June 30, 2020: Balance, December 31, 2019 $ 857 5,060 1,507 1,140 8,564 Provision for losses 81 1,035 (15 ) (323 ) 778 Charge-offs 0 (730 ) (45 ) 0 (775 ) Recoveries 0 17 17 48 82 Balance, June 30, 2020 $ 938 5,382 1,464 865 8,649 The following table summarizes the amounts of classified and unclassified loans at June 30, 2021 December 31, 2020. June 30, 2021 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 990 1,570 27 42 2,629 147,641 150,270 Commercial real estate: Real estate rental and leasing 8,669 1,569 0 0 10,238 190,424 200,662 Other 7,388 8,099 0 0 15,487 161,462 176,949 Consumer 0 653 57 13 723 45,543 46,266 Commercial business 2,890 1,522 0 0 4,412 69,706 74,118 $ 19,937 13,413 84 55 33,489 614,776 648,265 December 31, 2020 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 1,219 2,845 29 0 4,093 130,930 135,023 Commercial real estate: Real estate rental and leasing 8,065 3,483 0 0 11,548 190,852 202,400 Other 8,774 9,750 0 0 18,524 159,780 178,304 Consumer 0 600 132 18 750 54,641 55,391 Commercial business 1,968 2,482 0 0 4,450 78,223 82,673 $ 20,026 19,160 161 18 39,365 614,426 653,791 Classified loans represent special mention, substandard (performing and non-performing) and non-performing loans categorized as doubtful and loss. Loans classified as special mention are loans that have potential weaknesses that, if left uncorrected, may not may not The aging of past due loans at June 30, 2021 December 31, 2020 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Loans Total Loans Loans 90 Days or More Past Due and Still Accruing June 30, 2021 Single family $ 500 150 430 1,080 149,190 150,270 0 Commercial real estate: Real estate rental and leasing 333 0 0 333 200,329 200,662 0 Other 0 0 0 0 176,949 176,949 0 Consumer 329 64 291 684 45,582 46,266 0 Commercial business 25 0 0 25 74,093 74,118 $ 1,187 214 721 2,122 646,143 648,265 0 December 31, 2020 Single family $ 626 38 298 962 134,061 135,023 0 Commercial real estate: Real estate rental and leasing 0 0 0 0 202,400 202,400 0 Other 0 0 0 0 178,304 178,304 0 Consumer 458 66 279 803 54,588 55,391 0 Commercial business 0 0 0 0 82,673 82,673 0 $ 1,084 104 577 1,765 652,026 653,791 0 Impaired loans include loans that are non-performing (non-accruing) and loans that have been modified in a troubled debt restructuring (TDR). The following table summarizes impaired loans and related allowances as of June 30, 2021 December 31, 2020. June 30, 2021 December 31, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance Loans with no related allowance recorded: Single family $ 423 442 0 740 759 0 Commercial real estate: Real estate rental and leasing 156 156 0 932 1,582 0 Other 194 194 0 211 211 0 Consumer 628 628 0 574 574 0 Loans with an allowance recorded: Single family 155 155 68 117 117 29 Commercial real estate: Real estate rental and leasing 0 0 0 166 166 5 Other 169 169 135 175 175 90 Consumer 95 95 51 176 176 100 Commercial business 26 578 9 35 586 14 Total: Single family 578 597 68 857 876 29 Commercial real estate: Real estate rental and leasing 156 156 0 1,098 1,748 5 Other 363 363 135 386 386 90 Consumer 723 723 51 750 750 100 Commercial business 26 578 9 35 586 14 $ 1,846 2,417 263 3,126 4,346 238 The following table summarizes the average recorded investment and interest income recognized on impaired loans for the three six June 30, 2021 2020. For the Three Months Ended June 30, 2021 For the Six Months Ended June 30, 2021 (Dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Loans with no related allowance recorded: Single family $ 580 1 633 2 Commercial real estate: Real estate rental and leasing 614 0 720 0 Other 196 0 201 0 Consumer 570 2 571 2 Loans with an allowance recorded: Single family 135 0 129 0 Commercial real estate: Real estate rental and leasing 0 0 55 0 Other 154 0 161 0 Consumer 122 0 140 1 Commercial business 32 0 33 1 Total: Single family 715 1 762 2 Commercial real estate: Real estate rental and leasing 614 0 775 0 Other 350 0 362 0 Consumer 692 2 711 3 Commercial business 32 0 33 1 $ 2,403 3 2,643 6 For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 (Dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Loans with no related allowance recorded: Single family $ 604 7 584 18 Commercial real estate: Real estate rental and leasing 501 13 334 33 Other 480 0 320 2 Consumer 591 3 654 6 Commercial business 4 0 3 0 Loans with an allowance recorded: Single family 271 0 324 0 Commercial real estate: Real estate rental and leasing 177 0 179 0 Other 484 0 650 0 Consumer 185 1 188 3 Commercial business 93 1 307 1 Total: Single family 875 7 908 18 Commercial real estate: Real estate rental and leasing 678 13 513 33 Other 964 0 970 2 Consumer 776 4 842 9 Commercial business 97 1 310 1 $ 3,390 25 3,543 63 At June 30, 2021 December 31, 2020, no June 30, 2021 December 31, 2020, The non-accrual loans at June 30, 2021 December 31, 2020 (Dollars in thousands) June 30, 2021 December 31, 2020 Single family $ 557 502 Commercial real estate: Real estate rental and leasing 156 1,098 Other 363 386 Consumer 669 689 Commercial business 8 9 $ 1,753 2,684 At June 30, 2021 December 31, 2020 second 2021, none June 30, 2021. second 2020. The following table summarizes TDRs at June 30, 2021 December 31, 2020. June 30, 2021 December 31, 2020 (Dollars in thousands) Accruing Non- Accruing Total Accruing Non- Accruing Total Single family $ 22 249 271 355 257 612 Commercial real estate 0 363 363 0 211 211 Consumer 54 606 660 62 568 630 Commercial business 18 0 18 25 0 25 $ 94 1,218 1,312 442 1,036 1,478 As of June 30, 2021, December 31, 2020, TDR concessions can include reduction of interest rates, extension of maturity dates, forgiveness of principal and/or interest due, or acceptance of real estate or other assets in full or partial satisfaction of the debt. Loan modifications are not twelve twelve When a loan is modified as a TDR, there may may three six June 30, 2021 2020. Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (Dollars in thousands) Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Troubled debt restructurings: Commercial real estate: Other 0 $ 0 0 1 $ 139 139 Consumer 1 93 94 1 93 94 Commercial business 0 0 0 1 14 14 Total 1 $ 93 94 3 $ 246 247 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (Dollars in thousands) Number of Contracts Pre- modification Outstanding Recorded Investment Post- modification Outstanding Recorded Investment Number of Contracts Pre- modification Outstanding Recorded Investment Post- modification Outstanding Recorded Investment Troubled debt restructurings: Single family 0 $ 0 0 1 $ 94 101 Commercial real estate: Other 0 0 0 2 293 293 Total 0 $ 0 0 3 $ 387 394 There were no loans that were restructured in the twelve June 30, 2021 2020 three six June 30, 2021 2020. The Company considers a loan to have defaulted when it becomes 90 six six may TDRs are reviewed for impairment following the same methodology as other impaired loans. For loans that are collateral-dependent, the value of the collateral is reviewed and additional reserves may not may June 30, 2021 December 31, 2020. The Coronavirus Aid, Relief, and Economic Security Act March 27, 2020 Interagency Statement on Loan Modification and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus April 7, 2020. 4013 December 31, 2021. 19 June 30, 2021, 4013 December 31, 2021 June 30, 2021 may may may may |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | ( 10 Intangible Assets The Company’s intangible assets consist of core deposit intangibles, goodwill and mortgage servicing rights. A summary of mortgage servicing rights activity is as follows: (Dollars in thousands) Six Months Ended June 30, 2021 Twelve Months Ended December 31, 2020 Six Months Ended June 30, 2020 Balance, beginning of period $ 3,043 2,172 2,172 Originations 691 2,189 1,096 Amortization (574 ) (1,318 ) (621 ) Balance, end of period $ 3,160 3,043 2,647 Fair value of mortgage servicing rights $ 4,316 3,378 2,840 All of the loans sold where the Company continues to service the loans are serviced for FNMA under the individual loan sale program. The following is a summary of the risk characteristics of the loans being serviced for FNMA at June 30, 2021. Weighted Weighted Loan Average Average Principal Interest Remaining Number (Dollars in thousands) Balance Rate Term (months) of Loans Original term 30 year fixed rate $ 407,078 3.50 % 312 2,629 Original term 15 year fixed rate 120,211 2.90 142 1,079 Amortization expense for amortizing intangible assets was $0.6 million and $0.7 million for the six June 30, 2021 2020, June 30, 2021 December 31, 2020 June 30, 2021 Gross (Dollars in thousands) Carrying Amount Accumulated Amortization Unamortized Amount Mortgage servicing rights $ 6,015 (2,855 ) 3,160 Core deposit intangible 574 (551 ) 23 Goodwill 802 0 802 Total $ 7,391 (3,406 ) 3,985 December 31, 2020 Gross (Dollars in thousands) Carrying Amount Accumulated Amortization Unamortized Amount Mortgage servicing rights $ 5,691 (2,648 ) 3,043 Core deposit intangible 574 (517 ) 57 Goodwill 802 0 802 Total $ 7,067 (3,165 ) 3,902 The following table indicates the estimated future amortization expense for intangible assets. (Dollars in thousands) Mortgage Servicing Rights Core Deposit Intangible Total Amortizing Intangible Assets Year ending December 31, 2021 $ 338 13 351 2022 638 10 648 2023 597 0 597 2024 552 0 552 2025 471 0 471 Thereafter 564 0 564 Total $ 3,160 23 3,183 No not may Projections of amortization are based on existing asset balances and the existing interest rate environment as of June 30, 2021. may |
Note 11 - Leases
Note 11 - Leases | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 11 Leases The Company accounts for its leases in accordance with ASU 2016 02, 842 June 30, 2021 Operating lease right-of-use assets represent the Company’s right to use an underlying asset during the lease term and operating lease liabilities represent its obligation to make lease payments arising from the lease. Right-of-use assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. Because the Company only has operating leases and the right-of-use asset is offset by a lease payment obligation liability, the lease payments are the only amount that is recorded in occupancy expense in the consolidated statements of comprehensive income. The Company’s leases relate to office space and bank branches with remaining lease terms between fourteen forty-six three ten not not The table below summarizes the Company’s net lease cost for the three six June 30, 2021. (Dollars in thousands) Three Months Ended Six Months Ended Operating lease cost $ 223 449 The table below summarizes other information related to the Company’s operating leases. Three Months Ended Six Months Ended (Dollars in thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 223 223 449 445 Weighted-average remaining lease term – operating leases, in years 3.3 4.2 3.3 4.2 Weighted-average discount rate – operating leases 2.19 % 2.19 % 2.19 % 2.19 % The table below summarizes the maturities of remaining lease liabilities. (Dollars in thousands) June 30, 2021 2021 $ 452 2022 932 2023 807 2024 729 2025 15 Total lease payments 2,935 Less: Interest (107 ) Present value of lease liabilities $ 2,828 |
Note 12 - Earnings Per Common S
Note 12 - Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 12 Earnings per Common Share The following table reconciles the weighted average shares outstanding and the earnings available to common shareholders used for basic and diluted earnings per common share. Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 2021 2020 2021 2020 Weighted average number of common shares outstanding used in basic earnings per common share calculation 4,492,502 4,618,555 4,526,434 4,622,231 Net dilutive effect of: Restricted stock awards and options 34,394 25,664 32,983 26,691 Weighted average number of shares outstanding adjusted for effect of dilutive securities 4,526,896 4,644,219 4,559,417 4,648,922 Income available to common stockholders $ 4,528 2,691 7,946 4,076 Basic earnings per common share $ 1.01 0.58 1.76 0.88 Diluted earnings per common share $ 1.00 0.58 1.74 0.88 |
Note 13 - Regulatory Capital an
Note 13 - Regulatory Capital and Oversight | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 13 Regulatory Capital and Oversight The Bank is subject to the Basel III regulatory capital requirements. The Basel III requirements, among other things, (i) apply a set of capital requirements to the Bank, including requirements relating to common equity as a component of core capital, (ii) implement a “capital conservation buffer” against risk and a higher minimum Tier 1 The Board of Governors of the Federal Reserve System amended its Small Bank Holding Company Policy Statement (Policy Statement), to exempt small bank holding companies with assets less than $3 Quantitative measures established by regulations to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table and defined in the regulation) of Common Equity Tier 1 1 1 The Bank’s average total assets for the quarter ended June 30, 2021 June 30, 2021 Actual Required to be Adequately Capitalized Excess Capital To Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Amount Percent of Assets Amount Percent of Assets Amount Percent of Assets Amount Percent of Assets June 30, 2021 Common equity Tier 1 capital $ 97,789 14.18 % $ 31,033 4.50 % $ 66,756 9.68 % $ 44,826 6.50 % Tier 1 capital leverage 97,789 10.01 39,059 4.00 58,730 6.01 48,823 5.00 Tier 1 risk-based capital 97,789 14.18 41,378 6.00 56,411 8.18 55,171 8.00 Total risk-based capital 106,425 15.43 55,171 8.00 51,254 7.43 68,963 10.00 The Bank must maintain a capital conservation buffer of 2.50% composed of common equity Tier 1 June 30, 2021, no |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | ( 14 Stockholders Equity The Company was authorized to repurchase up to $1.8 million of its common stock under the existing board-approved share repurchase program at June 30, 2021. not second 2021. July 27, 2021, |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 15 Commitments and Contingencies The Bank issues standby letters of credit which guarantee the performance of customers to third June 30, 2021 sixteen may not From time to time, the Company is party to legal proceedings arising out of its lending and deposit operations. The Company is, and expects to become, engaged in foreclosure proceedings, collection actions and other litigation as part of its normal banking activities. Among the various current litigation matters, the Company is involved in a bankruptcy litigation claim where the bankruptcy trustee is attempting to recover $2.0 million related to the principal and interest payments made to the Bank prior to the bankruptcy filing of a former customer of the Bank. The Company examines each legal matter, and, in those situations where it determines that a particular legal matter presents loss contingencies that are both probable and reasonably estimable, establishes an appropriate accrual. In many situations, the Company is not not may may Based on the Company’s current understanding of all of the outstanding legal matters, management does not |
Note 16 - Business Segments
Note 16 - Business Segments | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 16 Business Segments The Bank has been identified as a reportable operating segment in accordance with the provisions of ASC 280. not The Company evaluates performance and allocates resources based on the segment’s net income, return on average assets and return on average equity. Each corporation is managed separately with its own officers and board of directors. The following table sets forth certain information about the reconciliations of reported profit and assets for each of the Company’s reportable segments. (Dollars in thousands) Home Federal Savings Bank Other Eliminations Consolidated Total At or for the six months ended June 30, 2021: Interest income – external customers $ 15,983 0 0 15,983 Non-interest income – external customers 7,996 1 0 7,997 Intersegment interest income 0 14 (14 ) 0 Intersegment non-interest income 117 8,281 (8,398 ) 0 Interest expense 877 0 (14 ) 863 Provision for loan losses (1,467 ) 0 0 (1,467 ) Non-interest expense 13,140 436 (117 ) 13,459 Income tax expense 3,265 (86 ) 0 3,179 Net income 8,281 7,946 (8,281 ) 7,946 Total assets 981,023 107,421 (107,418 ) 981,026 At or for the six months ended June 30, 2020: Interest income – external customers 15,727 0 0 15,727 Non-interest income – external customers 6,065 0 0 6,065 Intersegment interest income 0 23 (23 ) 0 Intersegment non-interest income 117 4,358 (4,475 ) 0 Interest expense 1,660 0 (23 ) 1,637 Provision for loan losses 778 0 0 778 Non-interest expense 13,403 368 (117 ) 13,654 Income tax expense 1,710 (63 ) 0 1,647 Net income 4,358 4,076 (4,358 ) 4,076 Total assets 862,046 98,247 (97,510 ) 862,783 At or for the quarter ended June 30, 2021: Interest income – external customers $ 8,094 0 0 8,094 Non-interest income – external customers 4,742 0 0 4,742 Intersegment interest income 0 6 (6 ) 0 Intersegment non-interest income 59 4,687 (4,746 ) 0 Interest expense 416 0 (6 ) 410 Provision for loan losses (891 ) 0 0 (891 ) Non-interest expense 6,831 208 (59 ) 6,980 Income tax expense 1,852 (43 ) 0 1,809 Net income 4,687 4,528 (4,687 ) 4,528 Total assets 981,023 107,421 (107,418 ) 981,026 At or for the quarter ended June 30, 2020: Interest income – external customers $ 7,883 0 0 7,883 Non-interest income – external customers 3,594 0 0 3,594 Intersegment interest income 0 8 (8 ) 0 Intersegment non-interest income 58 2,834 (2,892 ) 0 Interest expense 753 0 (8 ) 745 Provision for loan losses 318 0 0 318 Non-interest expense 6,529 182 (58 ) 6,653 Income tax expense 1,101 (31 ) 0 1,070 Net income 2,834 2,691 (2,834 ) 2,691 Total assets 862,046 98,247 (97,510 ) 862,783 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Carrying Value at June 30, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 211,534 0 211,534 0 Equity securities 198 0 198 0 Mortgage loan commitments 186 0 186 0 Total $ 211,918 0 211,918 0 Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 148,090 0 148,090 0 Equity securities 149 0 149 0 Mortgage loan commitments 261 0 261 0 Total $ 148,500 0 148,500 0 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Carrying Value at June 30, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Three Months Ended June 30, 2021 Total Gains (Losses) Six Months Ended June 30, 2021 Total Gains (Losses) Loans held for sale $ 7,380 0 7,380 0 137 24 Mortgage servicing rights, net 3,160 0 3,160 0 0 0 Impaired loans 1,583 0 1,583 0 (59 ) (64 ) Total $ 12,123 0 12,123 0 78 (40 ) Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Year Ended December 31, 2020 Total Gains (Losses) Loans held for sale $ 6,186 0 6,186 0 28 Mortgage servicing rights, net 3,043 0 3,043 0 0 Impaired loans 2,888 0 2,888 0 (76 ) Real estate, net 636 0 636 0 0 Total $ 12,753 0 12,753 0 (48 ) |
Note 5 - Fair Value of Financ_2
Note 5 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2021 December 31, 2020 Fair Value Hierarchy Fair Value Hierarchy (Dollars in thousands) Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Amount Financial assets: Cash and cash equivalents $ 100,406 100,406 100,406 86,269 86,269 86,269 Securities available for sale 211,534 211,534 211,534 148,090 148,090 148,090 Equity securities 198 198 198 149 149 149 Loans held for sale 7,380 7,380 7,380 6,186 6,186 6,186 Loans receivable, net 637,219 640,968 640,968 642,630 648,275 648,275 Federal Home Loan Bank stock 1,092 1,092 1,092 932 932 932 Accrued interest receivable 2,135 2,135 2,135 3,102 3,102 3,102 Financial liabilities: Deposits 862,282 862,597 862,597 795,204 795,927 795,927 Accrued interest payable 106 106 106 140 140 140 Off-balance sheet financial instruments: Commitments to extend credit 186 186 209,513 261 261 180,330 Commitments to sell loans (68 ) (68 ) 25,652 (44 ) (44 ) 24,746 |
Note 6 - Other Comprehensive _2
Note 6 - Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | For the Three Months Ended June 30, (Dollars in thousands) 2021 2020 Securities available for sale: Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Gross unrealized gains arising during the period $ 586 165 421 311 87 224 Other comprehensive income $ 586 165 421 311 87 224 For the Six Months Ended June 30, (Dollars in thousands) 2021 2020 Securities available for sale: Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Gross unrealized (losses) gains arising during the period $ (1,135 ) (315 ) (820 ) 2,081 582 1,499 Other comprehensive (loss) income $ (1,135 ) (315 ) (820 ) 2,081 582 1,499 |
Note 7 - Securities Available_2
Note 7 - Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2021 Mortgage backed securities: Federal National Mortgage Association (FNMA) 11 $ 50,861 (271 ) 0 $ 0 0 $ 50,861 (271 ) Federal Home Loan Mortgage Corporation (FHLMC) 10 46,790 (173 ) 0 0 0 46,790 (173 ) Other marketable securities: U.S. Government agency obligations 7 34,906 (90 ) 0 0 0 34,906 (90 ) Corporate preferred stock 0 0 0 1 644 (56 ) 644 (56 ) Total temporarily impaired securities 28 $ 132,557 (534 ) 1 $ 644 (56 ) $ 133,201 (590 ) Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2020 Mortgage backed securities: FNMA 1 $ 4,956 (3 ) 0 $ 0 0 $ 4,956 (3 ) Other marketable securities: Corporate preferred stock 0 0 0 1 630 (70 ) 630 (70 ) Total temporarily impaired securities 1 $ 4,956 (3 ) 1 $ 630 (70 ) $ 5,586 (73 ) |
Available-for-sale Securities [Table Text Block] | (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2021 Mortgage-backed securities: FNMA $ 98,253 917 (271 ) 98,899 FHLMC 66,889 207 (173 ) 66,923 Collateralized mortgage obligations: FNMA 60 4 0 64 165,202 1,128 (444 ) 165,886 Other marketable securities: U.S. Government agency obligations 44,990 104 (90 ) 45,004 Corporate preferred stock 700 0 (56 ) 644 45,690 104 (146 ) 45,648 $ 210,892 1,232 (590 ) 211,534 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2020 Mortgage-backed securities: FNMA $ 68,699 1,313 (3 ) 70,009 FHLMC 31,025 327 0 31,352 Collateralized mortgage obligations: FNMA 97 6 0 103 99,821 1,646 (3 ) 101,464 Other marketable securities: U.S. Government agency obligations 45,029 204 0 45,233 Municipal obligations 725 1 0 726 Corporate obligations 37 0 0 37 Corporate preferred stock 700 0 (70 ) 630 46,491 205 (70 ) 46,626 $ 146,312 1,851 (73 ) 148,090 |
Available-for-sale Securities [Member] | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | (Dollars in thousands) Amortized Cost Fair Value Due less than one year $ 69,884 70,096 Due after one year through five years 117,826 118,219 Due after five years through ten years 22,403 22,495 Due after ten years 779 724 Total $ 210,892 211,534 |
Note 8 - Loans Receivable, Net
Note 8 - Loans Receivable, Net (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Summary of Loans Receivable [Table Text Block] | (Dollars in thousands) June 30, 2021 December 31, 2020 Single family $ 150,270 135,023 Commercial real estate: Real estate rental and leasing 200,662 202,400 Other 176,949 178,304 377,611 380,704 Consumer 46,266 55,391 Commercial business 74,118 82,673 Total loans 648,265 653,791 Less: Unamortized discounts 11 12 Net deferred loan fees 1,120 450 Allowance for loan losses 9,915 10,699 Total loans receivable, net $ 637,219 642,630 |
Note 9 - Allowance for Loan L_2
Note 9 - Allowance for Loan Losses and Credit Quality Information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (Dollars in thousands) Single Commercial Consumer Commercial Business Total For the three months ended June 30, 2021: Balance, March 31, 2021 $ 839 7,073 1,189 1,031 10,132 Provision for losses 90 (690 ) (166 ) (125 ) (891 ) Charge-offs 0 0 (11 ) 0 (11 ) Recoveries 0 650 27 8 685 Balance, June 30, 2021 $ 929 7,033 1,039 914 9,915 For the six months ended June 30, 2021: Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Provision for losses (101 ) (912 ) (336 ) (118 ) (1,467 ) Charge-offs 0 0 (42 ) 0 (42 ) Recoveries 0 650 28 47 725 Balance, June 30, 2021 $ 929 7,033 1,039 914 9,915 Allocated to: Specific allowance $ 29 95 100 14 238 General allowance 1,001 7,200 1,289 971 10,461 Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Allocated to: Specific allowance $ 68 135 51 9 263 General allowance 861 6,898 988 905 9,652 Balance, June 30, 2021 $ 929 7,033 1,039 914 9,915 Loans receivable at December 31, 2020: Individually reviewed for impairment $ 857 1,484 750 35 3,126 Collectively reviewed for impairment 134,166 379,220 54,641 82,638 650,665 Ending balance $ 135,023 380,704 55,391 82,673 653,791 Loans receivable at June 30, 2021: Individually reviewed for impairment $ 578 519 723 26 1,846 Collectively reviewed for impairment 149,692 377,092 45,543 74,092 646,419 Ending balance $ 150,270 377,611 46,266 74,118 648,265 (Dollars in thousands) Single Commercial Consumer Commercial Business Total For the three months ended June 30, 2020: Balance, March 31, 2020 $ 937 5,539 1,583 977 9,036 Provision for losses 1 556 (101 ) (138 ) 318 Charge-offs 0 (730 ) (34 ) 0 (764 ) Recoveries 0 17 16 26 59 Balance, June 30, 2020 $ 938 5,382 1,464 865 8,649 For the six months ended June 30, 2020: Balance, December 31, 2019 $ 857 5,060 1,507 1,140 8,564 Provision for losses 81 1,035 (15 ) (323 ) 778 Charge-offs 0 (730 ) (45 ) 0 (775 ) Recoveries 0 17 17 48 82 Balance, June 30, 2020 $ 938 5,382 1,464 865 8,649 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2021 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 990 1,570 27 42 2,629 147,641 150,270 Commercial real estate: Real estate rental and leasing 8,669 1,569 0 0 10,238 190,424 200,662 Other 7,388 8,099 0 0 15,487 161,462 176,949 Consumer 0 653 57 13 723 45,543 46,266 Commercial business 2,890 1,522 0 0 4,412 69,706 74,118 $ 19,937 13,413 84 55 33,489 614,776 648,265 December 31, 2020 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 1,219 2,845 29 0 4,093 130,930 135,023 Commercial real estate: Real estate rental and leasing 8,065 3,483 0 0 11,548 190,852 202,400 Other 8,774 9,750 0 0 18,524 159,780 178,304 Consumer 0 600 132 18 750 54,641 55,391 Commercial business 1,968 2,482 0 0 4,450 78,223 82,673 $ 20,026 19,160 161 18 39,365 614,426 653,791 |
Financing Receivable, Past Due [Table Text Block] | (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Loans Total Loans Loans 90 Days or More Past Due and Still Accruing June 30, 2021 Single family $ 500 150 430 1,080 149,190 150,270 0 Commercial real estate: Real estate rental and leasing 333 0 0 333 200,329 200,662 0 Other 0 0 0 0 176,949 176,949 0 Consumer 329 64 291 684 45,582 46,266 0 Commercial business 25 0 0 25 74,093 74,118 $ 1,187 214 721 2,122 646,143 648,265 0 December 31, 2020 Single family $ 626 38 298 962 134,061 135,023 0 Commercial real estate: Real estate rental and leasing 0 0 0 0 202,400 202,400 0 Other 0 0 0 0 178,304 178,304 0 Consumer 458 66 279 803 54,588 55,391 0 Commercial business 0 0 0 0 82,673 82,673 0 $ 1,084 104 577 1,765 652,026 653,791 0 |
Impaired Financing Receivables [Table Text Block] | June 30, 2021 December 31, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance Loans with no related allowance recorded: Single family $ 423 442 0 740 759 0 Commercial real estate: Real estate rental and leasing 156 156 0 932 1,582 0 Other 194 194 0 211 211 0 Consumer 628 628 0 574 574 0 Loans with an allowance recorded: Single family 155 155 68 117 117 29 Commercial real estate: Real estate rental and leasing 0 0 0 166 166 5 Other 169 169 135 175 175 90 Consumer 95 95 51 176 176 100 Commercial business 26 578 9 35 586 14 Total: Single family 578 597 68 857 876 29 Commercial real estate: Real estate rental and leasing 156 156 0 1,098 1,748 5 Other 363 363 135 386 386 90 Consumer 723 723 51 750 750 100 Commercial business 26 578 9 35 586 14 $ 1,846 2,417 263 3,126 4,346 238 For the Three Months Ended June 30, 2021 For the Six Months Ended June 30, 2021 (Dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Loans with no related allowance recorded: Single family $ 580 1 633 2 Commercial real estate: Real estate rental and leasing 614 0 720 0 Other 196 0 201 0 Consumer 570 2 571 2 Loans with an allowance recorded: Single family 135 0 129 0 Commercial real estate: Real estate rental and leasing 0 0 55 0 Other 154 0 161 0 Consumer 122 0 140 1 Commercial business 32 0 33 1 Total: Single family 715 1 762 2 Commercial real estate: Real estate rental and leasing 614 0 775 0 Other 350 0 362 0 Consumer 692 2 711 3 Commercial business 32 0 33 1 $ 2,403 3 2,643 6 For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 (Dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Loans with no related allowance recorded: Single family $ 604 7 584 18 Commercial real estate: Real estate rental and leasing 501 13 334 33 Other 480 0 320 2 Consumer 591 3 654 6 Commercial business 4 0 3 0 Loans with an allowance recorded: Single family 271 0 324 0 Commercial real estate: Real estate rental and leasing 177 0 179 0 Other 484 0 650 0 Consumer 185 1 188 3 Commercial business 93 1 307 1 Total: Single family 875 7 908 18 Commercial real estate: Real estate rental and leasing 678 13 513 33 Other 964 0 970 2 Consumer 776 4 842 9 Commercial business 97 1 310 1 $ 3,390 25 3,543 63 |
Financing Receivable, Nonaccrual [Table Text Block] | (Dollars in thousands) June 30, 2021 December 31, 2020 Single family $ 557 502 Commercial real estate: Real estate rental and leasing 156 1,098 Other 363 386 Consumer 669 689 Commercial business 8 9 $ 1,753 2,684 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | June 30, 2021 December 31, 2020 (Dollars in thousands) Accruing Non- Accruing Total Accruing Non- Accruing Total Single family $ 22 249 271 355 257 612 Commercial real estate 0 363 363 0 211 211 Consumer 54 606 660 62 568 630 Commercial business 18 0 18 25 0 25 $ 94 1,218 1,312 442 1,036 1,478 |
Financial Effects of Troubled Debt Restructurings and Difference Between Outstanding Recorded Balance Pre Modification and Post Modification [Table Text Block] | Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (Dollars in thousands) Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Troubled debt restructurings: Commercial real estate: Other 0 $ 0 0 1 $ 139 139 Consumer 1 93 94 1 93 94 Commercial business 0 0 0 1 14 14 Total 1 $ 93 94 3 $ 246 247 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (Dollars in thousands) Number of Contracts Pre- modification Outstanding Recorded Investment Post- modification Outstanding Recorded Investment Number of Contracts Pre- modification Outstanding Recorded Investment Post- modification Outstanding Recorded Investment Troubled debt restructurings: Single family 0 $ 0 0 1 $ 94 101 Commercial real estate: Other 0 0 0 2 293 293 Total 0 $ 0 0 3 $ 387 394 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Servicing Liability at Amortized Cost [Table Text Block] | (Dollars in thousands) Six Months Ended June 30, 2021 Twelve Months Ended December 31, 2020 Six Months Ended June 30, 2020 Balance, beginning of period $ 3,043 2,172 2,172 Originations 691 2,189 1,096 Amortization (574 ) (1,318 ) (621 ) Balance, end of period $ 3,160 3,043 2,647 Fair value of mortgage servicing rights $ 4,316 3,378 2,840 |
Summary of Risk Characteristics of Loans Being Serviced [Table Text Block] | Weighted Weighted Loan Average Average Principal Interest Remaining Number (Dollars in thousands) Balance Rate Term (months) of Loans Original term 30 year fixed rate $ 407,078 3.50 % 312 2,629 Original term 15 year fixed rate 120,211 2.90 142 1,079 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2021 Gross (Dollars in thousands) Carrying Amount Accumulated Amortization Unamortized Amount Mortgage servicing rights $ 6,015 (2,855 ) 3,160 Core deposit intangible 574 (551 ) 23 Goodwill 802 0 802 Total $ 7,391 (3,406 ) 3,985 December 31, 2020 Gross (Dollars in thousands) Carrying Amount Accumulated Amortization Unamortized Amount Mortgage servicing rights $ 5,691 (2,648 ) 3,043 Core deposit intangible 574 (517 ) 57 Goodwill 802 0 802 Total $ 7,067 (3,165 ) 3,902 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (Dollars in thousands) Mortgage Servicing Rights Core Deposit Intangible Total Amortizing Intangible Assets Year ending December 31, 2021 $ 338 13 351 2022 638 10 648 2023 597 0 597 2024 552 0 552 2025 471 0 471 Thereafter 564 0 564 Total $ 3,160 23 3,183 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | (Dollars in thousands) Three Months Ended Six Months Ended Operating lease cost $ 223 449 |
Other Information Related to Operating Leases [Table Text Block] | Three Months Ended Six Months Ended (Dollars in thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 223 223 449 445 Weighted-average remaining lease term – operating leases, in years 3.3 4.2 3.3 4.2 Weighted-average discount rate – operating leases 2.19 % 2.19 % 2.19 % 2.19 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (Dollars in thousands) June 30, 2021 2021 $ 452 2022 932 2023 807 2024 729 2025 15 Total lease payments 2,935 Less: Interest (107 ) Present value of lease liabilities $ 2,828 |
Note 12 - Earnings Per Common_2
Note 12 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 2021 2020 2021 2020 Weighted average number of common shares outstanding used in basic earnings per common share calculation 4,492,502 4,618,555 4,526,434 4,622,231 Net dilutive effect of: Restricted stock awards and options 34,394 25,664 32,983 26,691 Weighted average number of shares outstanding adjusted for effect of dilutive securities 4,526,896 4,644,219 4,559,417 4,648,922 Income available to common stockholders $ 4,528 2,691 7,946 4,076 Basic earnings per common share $ 1.01 0.58 1.76 0.88 Diluted earnings per common share $ 1.00 0.58 1.74 0.88 |
Note 13 - Regulatory Capital _2
Note 13 - Regulatory Capital and Oversight (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Required to be Adequately Capitalized Excess Capital To Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Amount Percent of Assets Amount Percent of Assets Amount Percent of Assets Amount Percent of Assets June 30, 2021 Common equity Tier 1 capital $ 97,789 14.18 % $ 31,033 4.50 % $ 66,756 9.68 % $ 44,826 6.50 % Tier 1 capital leverage 97,789 10.01 39,059 4.00 58,730 6.01 48,823 5.00 Tier 1 risk-based capital 97,789 14.18 41,378 6.00 56,411 8.18 55,171 8.00 Total risk-based capital 106,425 15.43 55,171 8.00 51,254 7.43 68,963 10.00 |
Note 16 - Business Segments (Ta
Note 16 - Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (Dollars in thousands) Home Federal Savings Bank Other Eliminations Consolidated Total At or for the six months ended June 30, 2021: Interest income – external customers $ 15,983 0 0 15,983 Non-interest income – external customers 7,996 1 0 7,997 Intersegment interest income 0 14 (14 ) 0 Intersegment non-interest income 117 8,281 (8,398 ) 0 Interest expense 877 0 (14 ) 863 Provision for loan losses (1,467 ) 0 0 (1,467 ) Non-interest expense 13,140 436 (117 ) 13,459 Income tax expense 3,265 (86 ) 0 3,179 Net income 8,281 7,946 (8,281 ) 7,946 Total assets 981,023 107,421 (107,418 ) 981,026 At or for the six months ended June 30, 2020: Interest income – external customers 15,727 0 0 15,727 Non-interest income – external customers 6,065 0 0 6,065 Intersegment interest income 0 23 (23 ) 0 Intersegment non-interest income 117 4,358 (4,475 ) 0 Interest expense 1,660 0 (23 ) 1,637 Provision for loan losses 778 0 0 778 Non-interest expense 13,403 368 (117 ) 13,654 Income tax expense 1,710 (63 ) 0 1,647 Net income 4,358 4,076 (4,358 ) 4,076 Total assets 862,046 98,247 (97,510 ) 862,783 At or for the quarter ended June 30, 2021: Interest income – external customers $ 8,094 0 0 8,094 Non-interest income – external customers 4,742 0 0 4,742 Intersegment interest income 0 6 (6 ) 0 Intersegment non-interest income 59 4,687 (4,746 ) 0 Interest expense 416 0 (6 ) 410 Provision for loan losses (891 ) 0 0 (891 ) Non-interest expense 6,831 208 (59 ) 6,980 Income tax expense 1,852 (43 ) 0 1,809 Net income 4,687 4,528 (4,687 ) 4,528 Total assets 981,023 107,421 (107,418 ) 981,026 At or for the quarter ended June 30, 2020: Interest income – external customers $ 7,883 0 0 7,883 Non-interest income – external customers 3,594 0 0 3,594 Intersegment interest income 0 8 (8 ) 0 Intersegment non-interest income 58 2,834 (2,892 ) 0 Interest expense 753 0 (8 ) 745 Provision for loan losses 318 0 0 318 Non-interest expense 6,529 182 (58 ) 6,653 Income tax expense 1,101 (31 ) 0 1,070 Net income 2,834 2,691 (2,834 ) 2,691 Total assets 862,046 98,247 (97,510 ) 862,783 |
Note 1 - HMN Financial, Inc. (D
Note 1 - HMN Financial, Inc. (Details Textual) | 6 Months Ended |
Jun. 30, 2021 | |
Percentage Of Ownership In Subsidiaries | 100.00% |
Number of Wholly Owned Subsidiaries | 2 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Securities available for sale | $ 211,534 | $ 148,090 |
Fair Value, Recurring [Member] | ||
Securities available for sale | 211,534 | 148,090 |
Equity securities | 198 | 149 |
Mortgage loan commitments | 186 | 261 |
Total | 211,918 | 148,500 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Equity securities | 0 | 0 |
Mortgage loan commitments | 0 | 0 |
Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 211,534 | 148,090 |
Equity securities | 198 | 149 |
Mortgage loan commitments | 186 | 261 |
Total | 211,918 | 148,500 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Equity securities | 0 | 0 |
Mortgage loan commitments | 0 | 0 |
Total | $ 0 | $ 0 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Assets Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Loans held for sale, Total gains (losses) | $ 137 | $ 24 | $ 28 |
Mortgage servicing rights, Total gains (losses) | 0 | 0 | 0 |
Impaired loanss, Total gains (losses) | (59) | (64) | (76) |
Total, Total gains (losses) | 78 | (40) | (48) |
Real estate, net, Total gains (losses) | 0 | ||
Fair Value, Nonrecurring [Member] | |||
Loans held for sale | 7,380 | 7,380 | 6,186 |
Mortgage servicing rights, net | 3,160 | 3,160 | 3,043 |
Impaired loans | 1,583 | 1,583 | 2,888 |
Total | 12,123 | 12,123 | 12,753 |
Real estate, net | 636 | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Loans held for sale | 0 | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 | 0 |
Impaired loans | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Real estate, net | 0 | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Loans held for sale | 7,380 | 7,380 | 6,186 |
Mortgage servicing rights, net | 3,160 | 3,160 | 3,043 |
Impaired loans | 1,583 | 1,583 | 2,888 |
Total | 12,123 | 12,123 | 12,753 |
Real estate, net | 636 | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Loans held for sale | 0 | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 | 0 |
Impaired loans | 0 | 0 | 0 |
Total | $ 0 | $ 0 | 0 |
Real estate, net | $ 0 |
Note 5 - Fair Value of Financ_3
Note 5 - Fair Value of Financial Instruments - Estimated Fair Value of Company's Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Securities available for sale | $ 211,534 | $ 148,090 |
Loans receivable, net | 637,219 | 642,630 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 100,406 | 86,269 |
Securities available for sale | 211,534 | 148,090 |
Equity securities | 198 | 149 |
Loans held for sale | 7,380 | 6,186 |
Loans receivable, net | 637,219 | 642,630 |
Federal Home Loan Bank stock | 1,092 | 932 |
Accrued interest receivable | 2,135 | 3,102 |
Deposits | 862,282 | 795,204 |
Accrued interest payable | 106 | 140 |
Commitments to extend credit | 186 | 261 |
Commitments to sell loans | (68) | (44) |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 100,406 | 86,269 |
Securities available for sale | 211,534 | 148,090 |
Equity securities | 198 | 149 |
Loans held for sale | 7,380 | 6,186 |
Loans receivable, net | 640,968 | 648,275 |
Federal Home Loan Bank stock | 1,092 | 932 |
Accrued interest receivable | 2,135 | 3,102 |
Deposits | 862,597 | 795,927 |
Accrued interest payable | 106 | 140 |
Commitments to extend credit | 186 | 261 |
Commitments to sell loans | (68) | (44) |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 100,406 | 86,269 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 211,534 | 148,090 |
Equity securities | 198 | 149 |
Loans held for sale | 7,380 | 6,186 |
Loans receivable, net | 640,968 | 648,275 |
Federal Home Loan Bank stock | 1,092 | 932 |
Accrued interest receivable | 2,135 | 3,102 |
Deposits | 862,597 | 795,927 |
Accrued interest payable | 106 | 140 |
Portion at Other than Fair Value Measurement [Member] | ||
Commitments to extend credit | 209,513 | 180,330 |
Commitments to sell loans | $ 25,652 | $ 24,746 |
Note 6 - Other Comprehensive _3
Note 6 - Other Comprehensive Income (Loss) - Components of Other Comprehensive (Loss) Income and Related Tax Effects (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Gross unrealized (losses) gains arising during the period, before tax | $ 586 | $ 311 | $ (1,135) | $ 2,081 |
Gross unrealized (losses) gains arising during the period, tax | 165 | 87 | (315) | 582 |
Gross unrealized (losses) gains arising during the period, net of tax | 421 | 224 | (820) | 1,499 |
Other comprehensive income (loss), before tax | 586 | 311 | (1,135) | 2,081 |
Other comprehensive income (loss), tax | 165 | 87 | (315) | 582 |
Other comprehensive income (loss), net of tax | $ 421 | $ 224 | $ (820) | $ 1,499 |
Note 7 - Securities Available_3
Note 7 - Securities Available for Sale (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 |
Note 7 - Securities Available_4
Note 7 - Securities Available for Sale - Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Less Than Twelve Months # of Investments | 28 | 1 |
Less Than Twelve Months Fair Value | $ 132,557 | $ 4,956 |
Less Than Twelve Months Unrealized Losses | $ (534) | $ (3) |
Twelve Months or More # of Investments | 1 | 1 |
Twelve Months or More Fair Value | $ 644 | $ 630 |
Twelve Months or More Unrealized Losses | (56) | (70) |
Total fair value | 133,201 | 5,586 |
Total temporarily impaired securities | $ (590) | $ (73) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Less Than Twelve Months # of Investments | 11 | |
Less Than Twelve Months Fair Value | $ 50,861 | |
Less Than Twelve Months Unrealized Losses | $ (271) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 50,861 | |
Total temporarily impaired securities | $ (271) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Less Than Twelve Months # of Investments | 10 | |
Less Than Twelve Months Fair Value | $ 46,790 | |
Less Than Twelve Months Unrealized Losses | $ (173) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 46,790 | |
Total temporarily impaired securities | $ (173) | |
Collateralized Mortgage Backed Securities [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Less Than Twelve Months # of Investments | 1 | |
Less Than Twelve Months Fair Value | $ 4,956 | |
Less Than Twelve Months Unrealized Losses | $ (3) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 4,956 | |
Total temporarily impaired securities | $ (3) | |
Other Marketable Securities [Member] | Preferred Stock [Member] | ||
Less Than Twelve Months # of Investments | 0 | 0 |
Less Than Twelve Months Fair Value | $ 0 | $ 0 |
Less Than Twelve Months Unrealized Losses | $ 0 | $ 0 |
Twelve Months or More # of Investments | 1 | 1 |
Twelve Months or More Fair Value | $ 644 | $ 630 |
Twelve Months or More Unrealized Losses | (56) | (70) |
Total fair value | 644 | 630 |
Total temporarily impaired securities | $ (56) | $ (70) |
Other Marketable Securities [Member] | US Government Agencies Debt Securities [Member] | ||
Less Than Twelve Months # of Investments | 7 | |
Less Than Twelve Months Fair Value | $ 34,906 | |
Less Than Twelve Months Unrealized Losses | $ (90) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 34,906 | |
Total temporarily impaired securities | $ (90) |
Note 7 - Securities Available_5
Note 7 - Securities Available for Sale - Summary of Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Securities available for sale, amortized cost | $ 210,892 | $ 146,312 |
Investment securities available for sale, gross unrealized gains | 1,232 | 1,851 |
Investment securities available for sale, gross unrealized losses | (590) | (73) |
Securities available for sale | 211,534 | 148,090 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | 165,202 | 99,821 |
Investment securities available for sale, gross unrealized gains | 1,128 | 1,646 |
Investment securities available for sale, gross unrealized losses | (444) | (3) |
Securities available for sale | 165,886 | 101,464 |
Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 45,690 | 46,491 |
Investment securities available for sale, gross unrealized gains | 104 | 205 |
Investment securities available for sale, gross unrealized losses | (146) | (70) |
Securities available for sale | 45,648 | 46,626 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 98,253 | 68,699 |
Investment securities available for sale, gross unrealized gains | 917 | 1,313 |
Investment securities available for sale, gross unrealized losses | (271) | (3) |
Securities available for sale | 98,899 | 70,009 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, amortized cost | 60 | 97 |
Investment securities available for sale, gross unrealized gains | 4 | 6 |
Investment securities available for sale, gross unrealized losses | 0 | 0 |
Securities available for sale | 64 | 103 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 66,889 | 31,025 |
Investment securities available for sale, gross unrealized gains | 207 | 327 |
Investment securities available for sale, gross unrealized losses | (173) | 0 |
Securities available for sale | 66,923 | 31,352 |
US Government Agencies Debt Securities [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 44,990 | 45,029 |
Investment securities available for sale, gross unrealized gains | 104 | 204 |
Investment securities available for sale, gross unrealized losses | (90) | 0 |
Securities available for sale | 45,004 | 45,233 |
Preferred Stock [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 700 | 700 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | (56) | (70) |
Securities available for sale | $ 644 | 630 |
US States and Political Subdivisions Debt Securities [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 725 | |
Investment securities available for sale, gross unrealized gains | 1 | |
Investment securities available for sale, gross unrealized losses | 0 | |
Securities available for sale | 726 | |
Corporate Debt Securities [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 37 | |
Investment securities available for sale, gross unrealized gains | 0 | |
Investment securities available for sale, gross unrealized losses | 0 | |
Securities available for sale | $ 37 |
Note 7 - Securities Available_6
Note 7 - Securities Available for Sale - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Due less than one year, amortized cost | $ 69,884 | |
Due less than one year, fair value | 70,096 | |
Due after one year through five years, amortized cost | 117,826 | |
Due after one year through five years, fair value | 118,219 | |
Due after five years through ten years, amortized cost | 22,403 | |
Due after five years through ten years, fair value | 22,495 | |
Due after ten years, amortized cost | 779 | |
Due after ten years, fair value | 724 | |
Total, amortized cost | 210,892 | $ 146,312 |
Total, fair value | $ 211,534 | $ 148,090 |
Note 8 - Loans Receivable, Ne_2
Note 8 - Loans Receivable, Net - Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Loans receivable | $ 648,265 | $ 653,791 | ||||
Unamortized discounts | 11 | 12 | ||||
Net deferred loan fees | 1,120 | 450 | ||||
Allowance for loan losses | 9,915 | $ 10,132 | 10,699 | $ 8,649 | $ 9,036 | $ 8,564 |
Total loans receivable, net | 637,219 | 642,630 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans receivable | 150,270 | 135,023 | ||||
Allowance for loan losses | 929 | 839 | 1,030 | 938 | 937 | 857 |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable | 377,611 | 380,704 | ||||
Allowance for loan losses | 7,033 | 7,073 | 7,295 | 5,382 | 5,539 | 5,060 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Loans receivable | 200,662 | 202,400 | ||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||||||
Loans receivable | 176,949 | 178,304 | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans receivable | 46,266 | 55,391 | ||||
Allowance for loan losses | 1,039 | 1,189 | 1,389 | 1,464 | 1,583 | 1,507 |
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 74,118 | 82,673 | ||||
Allowance for loan losses | $ 914 | $ 1,031 | $ 985 | $ 865 | $ 977 | $ 1,140 |
Note 9 - Allowance for Loan L_3
Note 9 - Allowance for Loan Losses and Credit Quality Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 1,753 | $ 1,753 | $ 2,684 | |||||
Impaired Financing Receivable, Related Allowance | 263 | 263 | 238 | |||||
Loan Receivable for Which Value of Collateral Sufficient to Repay | 1,400 | 1,400 | 2,100 | |||||
Financing Receivable, Troubled Debt Restructuring | 1,312 | 1,312 | 1,478 | |||||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 500 | $ 500 | 1,100 | |||||
Loan to Value Ratio | 75.00% | 75.00% | ||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Reserves | $ 300 | $ 300 | $ 100 | |||||
Percentage Reserves For Loan Losses On Troubled Debt Restructurings | 2.60% | 2.60% | 0.90% | |||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 9,915 | 8,649 | $ 9,915 | 8,649 | $ 10,132 | $ 10,699 | $ 9,036 | $ 8,564 |
Financing Receivable, Deferred Loans with Granted Loan Modifications | 33,500 | 33,500 | ||||||
Financing Receivable, Deferred Loans with Granted Loan Modifications, Interest Only Payments, Amount | 29,200 | 29,200 | ||||||
Financing Receivable, Deferred Loans with Granted Loan Modifications, Loan Amortization Period Increased, Amount | 4,300 | 4,300 | ||||||
Financing Receivable, Loans with Previously Deferred Payments, Downgraded, Classified and Still Accruing | 5,700 | 5,700 | ||||||
Nonperforming Financial Instruments [Member] | ||||||||
Impaired Financing Receivable, Related Allowance | 300 | 300 | 200 | |||||
Financing Receivable, Troubled Debt Restructuring | 1,218 | 1,218 | 1,036 | |||||
Nonperforming Financial Instruments [Member] | Classified [Member] | ||||||||
Financing Receivable, Troubled Debt Restructuring | 100 | 100 | ||||||
Performing Financial Instruments [Member] | ||||||||
Financing Receivable, Troubled Debt Restructuring | $ 94 | $ 94 | $ 442 | |||||
Performing Financial Instruments [Member] | Classified [Member] | ||||||||
Financing Receivable, Troubled Debt Restructuring | $ 0 | $ 0 |
Note 9 - Allowance for Loan L_4
Note 9 - Allowance for Loan Losses and Credit Quality Information - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Balance | $ 10,132 | $ 9,036 | $ 10,699 | $ 8,564 | |
Provision for losses | (891) | 318 | (1,467) | 778 | |
Charge-offs | (11) | (764) | (42) | (775) | |
Recoveries | 685 | 59 | 725 | 82 | |
Balance | 9,915 | 8,649 | 9,915 | 8,649 | |
Specific allowance | 263 | 263 | $ 238 | ||
General allowance | 9,652 | 9,652 | 10,461 | ||
Balance | 9,915 | 8,649 | 9,915 | 8,649 | 10,699 |
Individually reviewed for impairment | 1,846 | 1,846 | 3,126 | ||
Collectively reviewed for impairment | 646,419 | 646,419 | 650,665 | ||
Ending balance | 648,265 | 648,265 | 653,791 | ||
Residential Portfolio Segment [Member] | |||||
Balance | 839 | 937 | 1,030 | 857 | |
Provision for losses | 90 | 1 | (101) | 81 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Balance | 929 | 938 | 929 | 938 | |
Specific allowance | 68 | 68 | 29 | ||
General allowance | 861 | 861 | 1,001 | ||
Balance | 929 | 938 | 929 | 938 | 1,030 |
Individually reviewed for impairment | 578 | 578 | 857 | ||
Collectively reviewed for impairment | 149,692 | 149,692 | 134,166 | ||
Ending balance | 150,270 | 150,270 | 135,023 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 7,073 | 5,539 | 7,295 | 5,060 | |
Provision for losses | (690) | 556 | (912) | 1,035 | |
Charge-offs | 0 | (730) | 0 | (730) | |
Recoveries | 650 | 17 | 650 | 17 | |
Balance | 7,033 | 5,382 | 7,033 | 5,382 | |
Specific allowance | 135 | 135 | 95 | ||
General allowance | 6,898 | 6,898 | 7,200 | ||
Balance | 7,033 | 5,382 | 7,033 | 5,382 | 7,295 |
Individually reviewed for impairment | 519 | 519 | 1,484 | ||
Collectively reviewed for impairment | 377,092 | 377,092 | 379,220 | ||
Ending balance | 377,611 | 377,611 | 380,704 | ||
Consumer Portfolio Segment [Member] | |||||
Balance | 1,189 | 1,583 | 1,389 | 1,507 | |
Provision for losses | (166) | (101) | (336) | (15) | |
Charge-offs | (11) | (34) | (42) | (45) | |
Recoveries | 27 | 16 | 28 | 17 | |
Balance | 1,039 | 1,464 | 1,039 | 1,464 | |
Specific allowance | 51 | 51 | 100 | ||
General allowance | 988 | 988 | 1,289 | ||
Balance | 1,039 | 1,464 | 1,039 | 1,464 | 1,389 |
Individually reviewed for impairment | 723 | 723 | 750 | ||
Collectively reviewed for impairment | 45,543 | 45,543 | 54,641 | ||
Ending balance | 46,266 | 46,266 | 55,391 | ||
Commercial Portfolio Segment [Member] | |||||
Balance | 1,031 | 977 | 985 | 1,140 | |
Provision for losses | (125) | (138) | (118) | (323) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 8 | 26 | 47 | 48 | |
Balance | 914 | 865 | 914 | 865 | |
Specific allowance | 9 | 9 | 14 | ||
General allowance | 905 | 905 | 971 | ||
Balance | 914 | $ 865 | 914 | $ 865 | 985 |
Individually reviewed for impairment | 26 | 26 | 35 | ||
Collectively reviewed for impairment | 74,092 | 74,092 | 82,638 | ||
Ending balance | $ 74,118 | $ 74,118 | $ 82,673 |
Note 9 - Allowance for Loan L_5
Note 9 - Allowance for Loan Losses and Credit Quality Information - Classified and Unclassified Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans receivable | $ 648,265 | $ 653,791 |
Classified [Member] | ||
Loans receivable | 33,489 | 39,365 |
Classified [Member] | Special Mention [Member] | ||
Loans receivable | 19,937 | 20,026 |
Classified [Member] | Substandard [Member] | ||
Loans receivable | 13,413 | 19,160 |
Classified [Member] | Doubtful [Member] | ||
Loans receivable | 84 | 161 |
Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 55 | 18 |
Unclassified [Member] | ||
Loans receivable | 614,776 | 614,426 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 150,270 | 135,023 |
Residential Portfolio Segment [Member] | Classified [Member] | ||
Loans receivable | 2,629 | 4,093 |
Residential Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | ||
Loans receivable | 990 | 1,219 |
Residential Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | ||
Loans receivable | 1,570 | 2,845 |
Residential Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | ||
Loans receivable | 27 | 29 |
Residential Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 42 | 0 |
Residential Portfolio Segment [Member] | Unclassified [Member] | ||
Loans receivable | 147,641 | 130,930 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 377,611 | 380,704 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 200,662 | 202,400 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 176,949 | 178,304 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Real Estate Loan [Member] | ||
Loans receivable | 10,238 | 11,548 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 15,487 | 18,524 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | Real Estate Loan [Member] | ||
Loans receivable | 8,669 | 8,065 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 7,388 | 8,774 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | Real Estate Loan [Member] | ||
Loans receivable | 1,569 | 3,483 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 8,099 | 9,750 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unclassified [Member] | Real Estate Loan [Member] | ||
Loans receivable | 190,424 | 190,852 |
Commercial Real Estate Portfolio Segment [Member] | Unclassified [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 161,462 | 159,780 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 46,266 | 55,391 |
Consumer Portfolio Segment [Member] | Classified [Member] | ||
Loans receivable | 723 | 750 |
Consumer Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | ||
Loans receivable | 653 | 600 |
Consumer Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | ||
Loans receivable | 57 | 132 |
Consumer Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 13 | 18 |
Consumer Portfolio Segment [Member] | Unclassified [Member] | ||
Loans receivable | 45,543 | 54,641 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 74,118 | 82,673 |
Commercial Portfolio Segment [Member] | Classified [Member] | ||
Loans receivable | 4,412 | 4,450 |
Commercial Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | ||
Loans receivable | 2,890 | 1,968 |
Commercial Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | ||
Loans receivable | 1,522 | 2,482 |
Commercial Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Unclassified [Member] | ||
Loans receivable | $ 69,706 | $ 78,223 |
Note 9 - Allowance for Loan L_6
Note 9 - Allowance for Loan Losses and Credit Quality Information - Aging of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Loans receivable | $ 648,265 | $ 653,791 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 150,270 | 135,023 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 377,611 | 380,704 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 200,662 | 202,400 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 176,949 | 178,304 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 46,266 | 55,391 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 74,118 | 82,673 |
Loans 90 days or more past due and still accruing | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 1,187 | 1,084 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 500 | 626 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 333 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 329 | 458 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 25 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 214 | 104 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 150 | 38 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 64 | 66 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 721 | 577 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 430 | 298 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 291 | 279 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Loans receivable | 2,122 | 1,765 |
Financial Asset, Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 1,080 | 962 |
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 333 | 0 |
Financial Asset, Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 684 | 803 |
Financial Asset, Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 25 | 0 |
Financial Asset, Not Past Due [Member] | ||
Loans receivable | 646,143 | 652,026 |
Financial Asset, Not Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 149,190 | 134,061 |
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 200,329 | 202,400 |
Financial Asset, Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 176,949 | 178,304 |
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 45,582 | 54,588 |
Financial Asset, Not Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | $ 74,093 | $ 82,673 |
Note 9 - Allowance for Loan L_7
Note 9 - Allowance for Loan Losses and Credit Quality Information - Impaired Loans and Related Allowances (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Related allowance | $ 263 | $ 263 | $ 238 | ||
Recorded investment | 1,846 | 1,846 | 3,126 | ||
Unpaid principal balance | 2,417 | 2,417 | 4,346 | ||
Specific allowance | 263 | 263 | 238 | ||
Average recorded investment | 2,403 | $ 3,390 | 2,643 | $ 3,543 | |
Interest income recognized | 3 | 25 | 6 | 63 | |
Residential Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance | 423 | 423 | 740 | ||
Unpaid principal balance, with no related allowance | 442 | 442 | 759 | ||
Recorded investment, with related allowance | 155 | 155 | 117 | ||
Unpaid principal balance, with related allowance | 155 | 155 | 117 | ||
Related allowance | 68 | 68 | 29 | ||
Recorded investment | 578 | 578 | 857 | ||
Unpaid principal balance | 597 | 597 | 876 | ||
Specific allowance | 68 | 68 | 29 | ||
Average recorded investment, with no related allowance | 580 | 604 | 633 | 584 | |
Interest income recognized, with no related allowance | 1 | 7 | 2 | 18 | |
Average recorded investment, with related allowance | 135 | 271 | 129 | 324 | |
Interest income recognized, with related allowance | 0 | 0 | 0 | 0 | |
Average recorded investment | 715 | 875 | 762 | 908 | |
Interest income recognized | 1 | 7 | 2 | 18 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Related allowance | 135 | 135 | 95 | ||
Specific allowance | 135 | 135 | 95 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Recorded investment, with no related allowance | 156 | 156 | 932 | ||
Unpaid principal balance, with no related allowance | 156 | 156 | 1,582 | ||
Recorded investment, with related allowance | 0 | 0 | 166 | ||
Unpaid principal balance, with related allowance | 0 | 0 | 166 | ||
Related allowance | 0 | 0 | 5 | ||
Recorded investment | 156 | 156 | 1,098 | ||
Unpaid principal balance | 156 | 156 | 1,748 | ||
Specific allowance | 0 | 0 | 5 | ||
Average recorded investment, with no related allowance | 614 | 501 | 720 | 334 | |
Interest income recognized, with no related allowance | 0 | 13 | 0 | 33 | |
Average recorded investment, with related allowance | 0 | 177 | 55 | 179 | |
Interest income recognized, with related allowance | 0 | 0 | 0 | 0 | |
Average recorded investment | 614 | 678 | 775 | 513 | |
Interest income recognized | 0 | 13 | 0 | 33 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | |||||
Recorded investment, with no related allowance | 194 | 194 | 211 | ||
Unpaid principal balance, with no related allowance | 194 | 194 | 211 | ||
Recorded investment, with related allowance | 169 | 169 | 175 | ||
Unpaid principal balance, with related allowance | 169 | 169 | 175 | ||
Related allowance | 135 | 135 | 90 | ||
Recorded investment | 363 | 363 | 386 | ||
Unpaid principal balance | 363 | 363 | 386 | ||
Specific allowance | 135 | 135 | 90 | ||
Average recorded investment, with no related allowance | 196 | 480 | 201 | 320 | |
Interest income recognized, with no related allowance | 0 | 0 | 0 | 2 | |
Average recorded investment, with related allowance | 154 | 484 | 161 | 650 | |
Interest income recognized, with related allowance | 0 | 0 | 0 | 0 | |
Average recorded investment | 350 | 964 | 362 | 970 | |
Interest income recognized | 0 | 0 | 0 | 2 | |
Consumer Portfolio Segment [Member] | |||||
Recorded investment, with no related allowance | 628 | 628 | 574 | ||
Unpaid principal balance, with no related allowance | 628 | 628 | 574 | ||
Recorded investment, with related allowance | 95 | 95 | 176 | ||
Unpaid principal balance, with related allowance | 95 | 95 | 176 | ||
Related allowance | 51 | 51 | 100 | ||
Recorded investment | 723 | 723 | 750 | ||
Unpaid principal balance | 723 | 723 | 750 | ||
Specific allowance | 51 | 51 | 100 | ||
Average recorded investment, with no related allowance | 570 | 591 | 571 | 654 | |
Interest income recognized, with no related allowance | 2 | 3 | 2 | 6 | |
Average recorded investment, with related allowance | 122 | 185 | 140 | 188 | |
Interest income recognized, with related allowance | 0 | 1 | 1 | 3 | |
Average recorded investment | 692 | 776 | 711 | 842 | |
Interest income recognized | 2 | 4 | 3 | 9 | |
Commercial Portfolio Segment [Member] | |||||
Recorded investment, with related allowance | 26 | 26 | 35 | ||
Unpaid principal balance, with related allowance | 578 | 578 | 586 | ||
Related allowance | 9 | 9 | 14 | ||
Recorded investment | 26 | 26 | 35 | ||
Unpaid principal balance | 578 | 578 | 586 | ||
Specific allowance | 9 | 9 | $ 14 | ||
Average recorded investment, with no related allowance | 4 | 3 | |||
Interest income recognized, with no related allowance | 0 | 0 | |||
Average recorded investment, with related allowance | 32 | 93 | 33 | 307 | |
Interest income recognized, with related allowance | 0 | 1 | 1 | 1 | |
Average recorded investment | 32 | 97 | 33 | 310 | |
Interest income recognized | $ 0 | $ 1 | $ 1 | $ 1 |
Note 9 - Allowance for Loan L_8
Note 9 - Allowance for Loan Losses and Credit Quality Information - Non-accrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Non-accrual loans | $ 1,753 | $ 2,684 |
Residential Portfolio Segment [Member] | ||
Non-accrual loans | 557 | 502 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Non-accrual loans | 156 | 1,098 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Non-accrual loans | 363 | 386 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans | 669 | 689 |
Commercial Portfolio Segment [Member] | ||
Non-accrual loans | $ 8 | $ 9 |
Note 9 - Allowance for Loan L_9
Note 9 - Allowance for Loan Losses and Credit Quality Information - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Troubled debt restructurings | $ 1,312 | $ 1,478 |
Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 94 | 442 |
Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 1,218 | 1,036 |
Residential Portfolio Segment [Member] | ||
Troubled debt restructurings | 271 | 612 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 22 | 355 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 249 | 257 |
Commercial Real Estate Portfolio Segment [Member] | ||
Troubled debt restructurings | 363 | 211 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 363 | 211 |
Consumer Portfolio Segment [Member] | ||
Troubled debt restructurings | 660 | 630 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 54 | 62 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 606 | 568 |
Commercial Portfolio Segment [Member] | ||
Troubled debt restructurings | 18 | 25 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 18 | 25 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | $ 0 | $ 0 |
Note 9 - Allowance for Loan _10
Note 9 - Allowance for Loan Losses and Credit Quality Information - Financial Effects of Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | |
Number of Contracts | 1 | 0 | 3 | 3 |
Pre- modification Outstanding Recorded Investment | $ 93 | $ 0 | $ 246 | $ 387 |
Post- modification Outstanding Recorded Investment | $ 94 | $ 0 | $ 247 | $ 394 |
Residential Portfolio Segment [Member] | ||||
Number of Contracts | 0 | 1 | ||
Pre- modification Outstanding Recorded Investment | $ 0 | $ 94 | ||
Post- modification Outstanding Recorded Investment | $ 0 | $ 101 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||||
Number of Contracts | 0 | 0 | 1 | 2 |
Pre- modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 139 | $ 293 |
Post- modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 139 | $ 293 |
Consumer Portfolio Segment [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre- modification Outstanding Recorded Investment | $ 93 | $ 93 | ||
Post- modification Outstanding Recorded Investment | $ 94 | $ 94 | ||
Commercial Portfolio Segment [Member] | ||||
Number of Contracts | 0 | 1 | ||
Pre- modification Outstanding Recorded Investment | $ 0 | $ 14 | ||
Post- modification Outstanding Recorded Investment | $ 0 | $ 14 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Amortization of Intangible Assets, Total | $ 0.6 | $ 0.7 |
Note 10 - Intangible Assets - M
Note 10 - Intangible Assets - Mortgage Servicing Activity (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Balance, beginning of period | $ 3,043 | $ 2,172 | $ 2,172 |
Originations | 691 | 1,096 | 2,189 |
Amortization | (574) | (621) | (1,318) |
Balance, end of period | 3,160 | 2,647 | 3,043 |
Fair value of mortgage servicing rights | $ 4,316 | $ 2,840 | $ 3,378 |
Note 10 - Intangible Assets - R
Note 10 - Intangible Assets - Risk Characteristics of Loans Being Serviced (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Original Term Thirty Year Fixed Rate [Member] | |
Loan Principal Balance | $ 407,078 |
Weighted Average Interest Rate | 3.50% |
Weighted Average Remaining Term (Month) | 312 months |
Number of Loans | 2,629 |
Original Term Fifteen Year Fixed Rate [Member] | |
Loan Principal Balance | $ 120,211 |
Weighted Average Interest Rate | 2.90% |
Weighted Average Remaining Term (Month) | 142 months |
Number of Loans | 1,079 |
Note 10 - Intangible Assets - G
Note 10 - Intangible Assets - Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Finite-lived intangible assets, accumulated amortization | $ (3,406) | $ (3,165) |
Finite-lived intangible assets, unamortized intangible assets | 3,183 | |
Goodwill, gross carrying amount | 802 | 802 |
Goodwill, accumulated impairment | 0 | 0 |
Goodwill | 802 | 802 |
Intangible assets (including goodwill), gross carrying amount | 7,391 | 7,067 |
Intangible assets, unamortized intangible assets | 3,985 | 3,902 |
Mortgage Servicing Rights [Member] | ||
Finite-lived intangible assets, gross carrying amount | 6,015 | 5,691 |
Finite-lived intangible assets, accumulated amortization | (2,855) | (2,648) |
Finite-lived intangible assets, unamortized intangible assets | 3,160 | 3,043 |
Core Deposits [Member] | ||
Finite-lived intangible assets, gross carrying amount | 574 | 574 |
Finite-lived intangible assets, accumulated amortization | (551) | (517) |
Finite-lived intangible assets, unamortized intangible assets | $ 23 | $ 57 |
Note 10 - Intangible Assets - E
Note 10 - Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
2021 | $ 351 | |
2022 | 648 | |
2023 | 597 | |
2024 | 552 | |
2025 | 471 | |
Thereafter | 564 | |
Total | 3,183 | |
Mortgage Servicing Rights [Member] | ||
2021 | 338 | |
2022 | 638 | |
2023 | 597 | |
2024 | 552 | |
2025 | 471 | |
Thereafter | 564 | |
Total | 3,160 | $ 3,043 |
Core Deposits [Member] | ||
2021 | 13 | |
2022 | 10 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
Thereafter | 0 | |
Total | $ 23 | $ 57 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) $ in Thousands | Jun. 30, 2021USD ($) |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 14 months |
Lessee, Operating Lease, Renewal Term (Year) | 3 years |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 46 months |
Lessee, Operating Lease, Renewal Term (Year) | 10 years |
Other Assets [Member] | |
Operating Lease, Right-of-Use Asset | $ 2,800 |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 2,828 |
Note 11 - Leases - Operating Le
Note 11 - Leases - Operating Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | |
Operating lease cost | $ 223 | $ 449 |
Note 11 - Leases - Summary of O
Note 11 - Leases - Summary of Other Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||||
Operating cash flows from operating leases | $ 223 | $ 223 | $ 449 | $ 445 |
Weighted-average remaining lease term – operating leases (Year) | 3 years 3 months 18 days | 4 years 2 months 12 days | 3 years 3 months 18 days | 4 years 2 months 12 days |
Weighted-average discount rate – operating leases | 2.19% | 2.19% | 2.19% | 2.19% |
Note 11 - Leases - Maturity of
Note 11 - Leases - Maturity of Remaining Lease Liabilities (Details) $ in Thousands | Jun. 30, 2021USD ($) |
2021 | $ 452 |
2022 | 932 |
2023 | 807 |
2024 | 729 |
2025 | 15 |
Total lease payments | 2,935 |
Less: Interest | (107) |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 2,828 |
Note 12 - Earnings Per Common_3
Note 12 - Earnings Per Common Share - Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Weighted average number of common shares outstanding used in basic earnings per common share calculation (in shares) | 4,492,502 | 4,618,555 | 4,526,434 | 4,622,231 |
Restricted stock awards and options (in shares) | 34,394 | 25,664 | 32,983 | 26,691 |
Weighted average number of shares outstanding adjusted for effect of dilutive securities (in shares) | 4,526,896 | 4,644,219 | 4,559,417 | 4,648,922 |
Net income | $ 4,528 | $ 2,691 | $ 7,946 | $ 4,076 |
Basic earnings per common share (in dollars per share) | $ 1.01 | $ 0.58 | $ 1.76 | $ 0.88 |
Diluted earnings per common share (in dollars per share) | $ 1 | $ 0.58 | $ 1.74 | $ 0.88 |
Note 13 - Regulatory Capital _3
Note 13 - Regulatory Capital and Oversight (Details Textual) $ in Millions | Jun. 30, 2021USD ($) |
Banks Tangible Assets | $ 977.2 |
Adjusted Assets | 976.5 |
Banking Regulation, Risk-Weighted Assets, Actual | $ 689.6 |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier One Risk-Based Capital, Actual | 0.0250 |
Note 13 - Regulatory Capital _4
Note 13 - Regulatory Capital and Oversight - Capital Amounts and Ratios (Details) $ in Thousands | Jun. 30, 2021USD ($) |
Common equity tier 1 capital, actual amount | $ 97,789 |
Common equity tier 1 capital, actual percent of asset | 0.1418 |
Common equity tier 1 capital, amount required to be adequately capitalized | $ 31,033 |
Common equity tier 1 capital, percent of assets required to be adequately capitalized | 0.0450 |
Common equity tier 1 capital, excess capital amount | $ 66,756 |
Common equity tier 1 capital, excess capital percent of assets | 0.0968 |
Common equity tier 1 capital, amount to be well capitalized under prompt corrective action provisions | $ 44,826 |
Common equity tier 1 capital, percent of assets to be well capitalized under prompt corrective action provisions | 0.0650 |
Tier 1 capital leverage, actual amount | $ 97,789 |
Tier 1 capital leverage, actual percent of asset | 0.1001 |
Tier 1 capital leverage, amount required to be adequately capitalized | $ 39,059 |
Tier 1 capital leverage, percent of assets required to be adequately capitalized | 0.0400 |
Tier 1 capital leverage, excess capital amount | $ 58,730 |
Tier 1 capital leverage, excess capital percent of assets | 0.0601 |
Tier 1 capital leverage, amount to be well capitalized under prompt corrective action provisions | $ 48,823 |
Tier 1 capital leverage, percent of assets to be well capitalized under prompt corrective action provisions | 0.0500 |
Tier 1 risk-based capital, actual amount | $ 97,789 |
Tier 1 risk-based capital, actual percent of asset | 0.1418 |
Tier 1 risk-based capital, amount required to be adequately capitalized | $ 41,378 |
Tier 1 risk-based capital, percent of assets required to be adequately capitalized | 0.0600 |
Tier 1 risk-based capital, excess capital amount | $ 56,411 |
Tier 1 risk-based capital, excess capital percent of assets | 0.0818 |
Tier 1 risk-based capital, amount to be well capitalized under prompt corrective action provisions | $ 55,171 |
Tier 1 risk-based capital, percent of assets to be well capitalized under prompt corrective action provisions | 0.0800 |
Total risk-based capital, actual amount | $ 106,425 |
Total risk-based capital, actual percent of asset | 0.1543 |
Total risk-based capital, amount required to be adequately capitalized | $ 55,171 |
Total risk-based capital, percent of assets required to be adequately capitalized | 0.0800 |
Total risk-based capital, excess capital amount | $ 51,254 |
Total risk-based capital, excess capital percent of assets | 0.0743 |
Total risk-based capital, amount to be well capitalized under prompt corrective action provisions | $ 68,963 |
Total risk-based capital, percent of assets to be well capitalized under prompt corrective action provisions | 0.1000 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | Jul. 27, 2021 | Jun. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2020 |
Dividends, Common Stock, Cash | $ 0 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 2,213 | 2,736 | $ 360 | |
New Share Repurchase Program [Member] | ||||
Stock Repurchase Program, Authorized Amount | $ 1,800 | $ 1,800 | ||
Treasury Stock, Shares, Acquired (in shares) | 108,000 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 2,200 | |||
New Share Repurchase Program [Member] | Subsequent Event [Member] | ||||
Stock Repurchase Program, Authorized Amount | $ 6,000 | |||
Stock Repurchase Program, Additional Authorized Amount | $ 4,200 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Letters of Credit Issued and Available Amount | $ 5,000 |
Minimum [Member] | |
Loss Contingency, Estimate of Possible Loss | 0 |
Maximum [Member] | |
Loss Contingency, Estimate of Possible Loss | 900 |
Bankruptcy Litigation Claim [Member] | Pending Litigation [Member] | |
Loss Contingency, Damages Sought, Value | $ 2,000 |
Note 16 - Business Segments - P
Note 16 - Business Segments - Profit and Assets for the Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Interest income – external customers | $ 8,094 | $ 7,883 | $ 15,983 | $ 15,727 | |
Non-interest income – external customers | 4,742 | 3,594 | 7,997 | 6,065 | |
Intersegment interest income | 0 | 0 | 0 | 0 | |
Intersegment non-interest income | 0 | 0 | 0 | 0 | |
Interest expense | 410 | 745 | 863 | 1,637 | |
Provision for loan losses | (891) | 318 | (1,467) | 778 | |
Non-interest expense | 6,980 | 6,653 | 13,459 | 13,654 | |
Income tax expense | 1,809 | 1,070 | 3,179 | 1,647 | |
Net income | 4,528 | 2,691 | 7,946 | 4,076 | |
Total assets | 981,026 | 862,783 | 981,026 | 862,783 | $ 909,580 |
Consolidation, Eliminations [Member] | |||||
Interest income – external customers | 0 | 0 | 0 | 0 | |
Non-interest income – external customers | 0 | 0 | 0 | 0 | |
Intersegment interest income | (4,746) | (2,892) | (14) | (4,475) | |
Intersegment non-interest income | (6) | (8) | (8,398) | (23) | |
Interest expense | (6) | (8) | (14) | (23) | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non-interest expense | (59) | (58) | (117) | (117) | |
Income tax expense | 0 | 0 | 0 | 0 | |
Net income | (4,687) | (2,834) | (8,281) | (4,358) | |
Total assets | (107,418) | (97,510) | (107,418) | (97,510) | |
Home Federal Savings Bank [Member] | Operating Segments [Member] | |||||
Interest income – external customers | 8,094 | 7,883 | 15,983 | 15,727 | |
Non-interest income – external customers | 4,742 | 3,594 | 7,996 | 6,065 | |
Intersegment interest income | 59 | 58 | 0 | 117 | |
Intersegment non-interest income | 0 | 0 | 117 | 0 | |
Interest expense | 416 | 753 | 877 | 1,660 | |
Provision for loan losses | (891) | 318 | (1,467) | 778 | |
Non-interest expense | 6,831 | 6,529 | 13,140 | 13,403 | |
Income tax expense | 1,852 | 1,101 | 3,265 | 1,710 | |
Net income | 4,687 | 2,834 | 8,281 | 4,358 | |
Total assets | 981,023 | 862,046 | 981,023 | 862,046 | |
Other Segments [Member] | Operating Segments [Member] | |||||
Interest income – external customers | 0 | 0 | 0 | 0 | |
Non-interest income – external customers | 0 | 0 | 1 | 0 | |
Intersegment interest income | 4,687 | 2,834 | 14 | 4,358 | |
Intersegment non-interest income | 6 | 8 | 8,281 | 23 | |
Interest expense | 0 | 0 | 0 | 0 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Non-interest expense | 208 | 182 | 436 | 368 | |
Income tax expense | (43) | (31) | (86) | (63) | |
Net income | 4,528 | 2,691 | 7,946 | 4,076 | |
Total assets | $ 107,421 | $ 98,247 | $ 107,421 | $ 98,247 |