Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 03, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001035976 | |
Entity Registrant Name | FNCB BANCORP, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-38408 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-2900790 | |
Entity Address, Address Line One | 102 E. Drinker St. | |
Entity Address, City or Town | Dunmore | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 18512 | |
City Area Code | 570 | |
Local Phone Number | 346-7667 | |
Title of 12(b) Security | Common stock, $1.25 par value | |
Trading Symbol | FNCB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,235,282 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 20,089 | $ 22,861 |
Interest-bearing deposits in other banks | 81,390 | 11,704 |
Total cash and cash equivalents | 101,479 | 34,565 |
Available-for-sale debt securities, at fair value | 305,611 | 272,839 |
Equity securities, at fair value | 938 | 920 |
Restricted stock, at cost | 3,309 | 3,804 |
Loans held for sale | 765 | 1,061 |
Loans, net of allowance for loan and lease losses of $11,024 and $8,950 | 937,404 | 819,529 |
Bank premises and equipment, net | 17,467 | 17,518 |
Accrued interest receivable | 5,201 | 3,234 |
Bank-owned life insurance | 31,478 | 31,230 |
Other real estate owned | 85 | 289 |
Net deferred tax assets | 2,969 | 6,278 |
Other assets | 11,465 | 12,274 |
Total assets | 1,418,171 | 1,203,541 |
Liabilities | ||
Demand (non-interest-bearing) | 266,846 | 179,465 |
Interest-bearing | 902,781 | 822,244 |
Total deposits | 1,169,627 | 1,001,709 |
Borrowed funds: | ||
Advances From Federal Discount Window | 36,242 | 0 |
Federal Home Loan Bank of Pittsburgh advances | 42,809 | 46,909 |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 89,361 | 57,219 |
Accrued interest payable | 248 | 258 |
Other liabilities | 13,578 | 10,748 |
Total liabilities | 1,272,814 | 1,069,934 |
Shareholders' equity | ||
Preferred shares ($1.25 par) Authorized: 20,000,000 shares at March 31, 2020 and December 31, 2019 Issued and outstanding: 0 shares at March 31, 2020 and December 31, 2019 | 0 | 0 |
Common shares ($1.25 par) Authorized: 50,000,000 shares at March 31, 2020 and December 31, 2019 Issued and outstanding: 20,208,607 shares at June 30, 2020 and 20,171,408 shares at December 31, 2019 | 25,260 | 25,214 |
Additional paid-in capital | 81,261 | 81,130 |
Retained earnings | 28,057 | 24,207 |
Accumulated other comprehensive income | 10,779 | 3,056 |
Total shareholders' equity | 145,357 | 133,607 |
Total liabilities and shareholders’ equity | $ 1,418,171 | $ 1,203,541 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans, allowance for loan and lease losses | $ 11,024 | $ 8,950 |
Preferred shares, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Preferred shares, authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred shares, issued (in shares) | 0 | 0 |
Preferred shares, outstanding (in shares) | 0 | 0 |
Common shares, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Common shares, authorized (in shares) | 50,000,000 | 50,000,000 |
Common shares, issued (in shares) | 20,208,607 | 20,171,408 |
Common shares, outstanding (in shares) | 20,208,607 | 20,171,408 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Interest and fees on loans | $ 9,060 | $ 9,418 | $ 18,199 | $ 18,825 |
Interest and dividends on securities: | ||||
U.S. government agencies | 589 | 906 | 1,339 | 1,799 |
State and political subdivisions, tax free | 388 | 38 | 445 | 75 |
State and political subdivisions, taxable | 735 | 811 | 1,500 | 1,832 |
Other securities | 415 | 210 | 827 | 415 |
Total interest and dividends on securities | 2,127 | 1,965 | 4,111 | 4,121 |
Interest on interest-bearing deposits in other banks | 3 | 79 | 24 | 125 |
Total interest income | 11,190 | 11,462 | 22,334 | 23,071 |
Interest expense | ||||
Interest on deposits | 1,376 | 2,144 | 3,036 | 4,382 |
Interest on borrowed funds: | ||||
Federal Reserve Bank Discount Window advances | 14 | 0 | 14 | 0 |
Federal Home Loan Bank of Pittsburgh advances | 160 | 253 | 379 | 540 |
Junior subordinated debentures | 60 | 111 | 148 | 225 |
Subordinated debentures | 0 | 0 | 0 | 24 |
Total interest on borrowed funds | 234 | 364 | 541 | 789 |
Total interest expense | 1,610 | 2,508 | 3,577 | 5,171 |
Net interest income before provision for loan and lease losses | 9,580 | 8,954 | 18,757 | 17,900 |
Provision for loan and lease losses | 831 | 347 | 1,982 | 193 |
Net interest income after provision for loan and lease losses | 8,749 | 8,607 | 16,775 | 17,707 |
Non-interest income | ||||
Deposit service charges | 708 | 721 | 1,533 | 1,406 |
Net gain on the sale of available-for-sale debt securities | 922 | 163 | 1,071 | 323 |
Net gain on equity securities | 4 | 14 | 18 | 26 |
Net gain on the sale of mortgage loans held for sale | 183 | 73 | 279 | 129 |
Net gain on the sale of other real estate owned | 0 | 9 | 0 | 9 |
Loan-related fees | 25 | 72 | 81 | 151 |
Income from bank-owned life insurance | 119 | 129 | 248 | 260 |
Loan referral fees | 214 | 6 | 262 | 20 |
Merchant services revenue | 112 | 131 | 247 | 249 |
Other | 214 | 260 | 456 | 520 |
Total non-interest income | 2,501 | 1,578 | 4,195 | 3,093 |
Non-interest expense | ||||
Salaries and employee benefits | 3,498 | 3,824 | 7,427 | 7,723 |
Occupancy expense | 466 | 444 | 1,020 | 994 |
Equipment expense | 360 | 329 | 731 | 636 |
Advertising expense | 113 | 154 | 320 | 351 |
Data processing expense | 709 | 789 | 1,434 | 1,570 |
Regulatory assessments | 74 | 76 | 133 | 244 |
Bank shares tax | 315 | 277 | 615 | 555 |
Expense of other real estate owned | 35 | 14 | 90 | 65 |
Professional fees | 193 | 203 | 381 | 535 |
Insurance expense | 124 | 120 | 247 | 246 |
Other operating expenses | 537 | 892 | 1,231 | 1,628 |
Total non-interest expense | 6,424 | 7,122 | 13,629 | 14,547 |
Income before income tax expense | 4,826 | 3,063 | 7,341 | 6,253 |
Income tax expense | 805 | 514 | 1,257 | 1,069 |
Net income | $ 4,021 | $ 2,549 | $ 6,084 | $ 5,184 |
Earnings per share | ||||
Basic (in dollars per share) | $ 0.20 | $ 0.13 | $ 0.30 | $ 0.27 |
Diluted (in dollars per share) | 0.20 | 0.13 | 0.30 | 0.27 |
Cash dividends declared per common share (in dollars per share) | $ 0.055 | $ 0.050 | $ 0.110 | $ 0.100 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||||
Basic weighted-average number of common shares outstanding (in shares) | 20,191,527 | 20,129,150 | 20,182,012 | 19,428,717 |
Diluted (in shares) | 20,191,527 | 20,133,850 | 20,184,046 | 19,435,076 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income | $ 4,021 | $ 2,549 | $ 6,084 | $ 5,184 |
Other comprehensive income: | ||||
Unrealized gains on available-for-sale debt securities | 6,658 | 5,608 | 10,994 | 10,263 |
Taxes | (1,398) | (1,177) | (2,309) | (2,155) |
Net of tax amount | 5,260 | 4,431 | 8,685 | 8,108 |
Reclassification adjustment for gains included in net income | (922) | (163) | (1,071) | (323) |
Taxes | 193 | 34 | 225 | 68 |
Net of tax amount | (729) | (129) | (846) | (255) |
Derivative adjustments | (131) | 0 | (147) | 0 |
Taxes | 28 | 0 | 31 | 0 |
Net of tax amount | (103) | 0 | (116) | 0 |
Total other comprehensive income | 4,428 | 4,302 | 7,723 | 7,853 |
Comprehensive income | $ 8,449 | $ 6,851 | $ 13,807 | $ 13,037 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 31, 2018 | 16,821,371 | ||||
Balances at Dec. 31, 2018 | $ 21,026 | $ 63,547 | $ 17,186 | $ (4,540) | $ 97,219 |
Net income for the period | 0 | 0 | 5,184 | 0 | 5,184 |
Cash dividends | 0 | 0 | (2,013) | 0 | (2,013) |
Restricted stock awards | $ 0 | 140 | 0 | 0 | 140 |
Common shares issued under long-term incentive compensation plan (in shares) | 37,558 | ||||
Common shares issued under long-term incentive compensation plan | $ 47 | (47) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 3,538 | 3,538 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 4 | 23 | (12) | 0 | $ 15 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 7,853 | 7,853 |
Common shares issued for capital raise, net (in shares) | 3,285,550 | ||||
Common shares issued for capital raise, net | $ 4,107 | 17,201 | 0 | 0 | 21,308 |
Balances (in shares) at Jun. 30, 2019 | 20,148,017 | ||||
Balances at Jun. 30, 2019 | $ 25,184 | 80,864 | 20,345 | 3,313 | 129,706 |
Balances (in shares) at Mar. 31, 2019 | 20,108,560 | ||||
Balances at Mar. 31, 2019 | $ 25,135 | 80,827 | 18,809 | (989) | 123,782 |
Net income for the period | 0 | 0 | 2,549 | 0 | 2,549 |
Cash dividends | 0 | 0 | (1,007) | 0 | (1,007) |
Restricted stock awards | $ 0 | 73 | 0 | 0 | 73 |
Common shares issued under long-term incentive compensation plan (in shares) | 37,558 | ||||
Common shares issued under long-term incentive compensation plan | $ 47 | (47) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 1,899 | 1,899 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 2 | 11 | (6) | 0 | $ 7 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 4,302 | 4,302 |
Balances (in shares) at Jun. 30, 2019 | 20,148,017 | ||||
Balances at Jun. 30, 2019 | $ 25,184 | 80,864 | 20,345 | 3,313 | 129,706 |
Balances (in shares) at Dec. 31, 2019 | 20,171,408 | ||||
Balances at Dec. 31, 2019 | $ 25,214 | 81,130 | 24,207 | 3,056 | 133,607 |
Net income for the period | 0 | 0 | 6,084 | 0 | 6,084 |
Cash dividends | 0 | 0 | (2,221) | 0 | (2,221) |
Restricted stock awards | $ 0 | 143 | 0 | 0 | 143 |
Common shares issued under long-term incentive compensation plan (in shares) | 31,783 | ||||
Common shares issued under long-term incentive compensation plan | $ 40 | (40) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 5,416 | 5,416 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 6 | 28 | (13) | 0 | $ 21 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 7,723 | 7,723 |
Balances (in shares) at Jun. 30, 2020 | 20,208,607 | ||||
Balances at Jun. 30, 2020 | $ 25,260 | 81,261 | 28,057 | 10,779 | 145,357 |
Balances (in shares) at Mar. 31, 2020 | 20,174,250 | ||||
Balances at Mar. 31, 2020 | $ 25,217 | 81,209 | 25,155 | 6,351 | 137,932 |
Net income for the period | 0 | 0 | 4,021 | 0 | 4,021 |
Cash dividends | 0 | 0 | (1,111) | 0 | (1,111) |
Restricted stock awards | $ 0 | 81 | 0 | 0 | 81 |
Common shares issued under long-term incentive compensation plan (in shares) | 31,783 | ||||
Common shares issued under long-term incentive compensation plan | $ 40 | (40) | 0 | 0 | $ 0 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 2,574 | 2,574 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 3 | 11 | (8) | 0 | $ 6 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 4,428 | 4,428 |
Balances (in shares) at Jun. 30, 2020 | 20,208,607 | ||||
Balances at Jun. 30, 2020 | $ 25,260 | $ 81,261 | $ 28,057 | $ 10,779 | $ 145,357 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Cash dividends declared, per share (in dollars per share) | $ 0.055 | $ 0.050 | $ 0.110 | $ 0.100 |
Other comprehensive income , tax | $ 1,177 | $ 1,143 | $ 2,053 | $ 2,087 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 6,084 | $ 5,184 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 366 | 429 |
Equity in trust | (4) | (7) |
Depreciation and amortization | 1,040 | 1,543 |
Valuation adjustment for loan servicing rights | 53 | 7 |
Stock-based compensation expense | 143 | 140 |
Provision for loan and lease losses | 1,982 | 193 |
Valuation adjustment for off-balance sheet commitments | (42) | 78 |
Net gain on the sale of available-for-sale debt securities | (1,071) | (323) |
Net gain on equity securities | (18) | (26) |
Net gain on the sale of mortgage loans held for sale | (279) | (129) |
Net gain on the sale of other real estate owned | 0 | (9) |
Income from bank-owned life insurance | (248) | (260) |
Proceeds from the sale of mortgage loans held for sale | 6,190 | 4,233 |
Funds used to originate mortgage loans held for sale | (5,615) | (3,703) |
Decrease in net deferred tax assets | 1,257 | 1,069 |
Increase in accrued interest receivable | (1,967) | (26) |
Decrease (increase) in prepaid expenses and other assets | 720 | (2,551) |
(Decrease) increase in accrued interest payable | (10) | 51 |
Increase (decrease) in accrued expenses and other liabilities | 2,710 | (349) |
Total adjustments | 5,207 | 360 |
Net cash provided by operating activities | 11,291 | 5,544 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale debt securities | 9,058 | 3,276 |
Proceeds from the sale of available-for-sale debt securities | 51,888 | 61,272 |
Purchases of available-for-sale debt securities | (83,090) | (44,537) |
Redemption (purchase) of the stock in Federal Home Loan Bank of Pittsburgh | 495 | (1,495) |
Net (increase) decrease in loans to customers | (120,035) | 23,069 |
Proceeds from the sale of other real estate owned | 204 | 420 |
Purchases of bank premises and equipment | (757) | (2,164) |
Net cash (used in) provided by investing activities | (142,237) | 39,841 |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 167,918 | (134,565) |
(Repayment of) proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | (14,100) | 29,750 |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 20,000 | 47,192 |
Repayment of Federal Home Loan Bank of Pittsburgh advances - term | (10,000) | (8,649) |
Proceeds from Federal Reserve Bank Discount Window advances | 46,272 | 0 |
Repayment of Federal Reserve Bank Discount Window advances | (10,030) | 0 |
Principal reduction on subordinated debentures | 0 | (5,000) |
Proceeds from issuance of common shares, net of discount | 21 | 21,323 |
Cash dividends paid | (2,221) | (2,013) |
Net cash provided by (used in) financing activities | 197,860 | (51,962) |
Net increase (decrease) in cash and cash equivalents | 66,914 | (6,577) |
Cash and cash equivalents at beginning of period | 34,565 | 36,481 |
Cash and cash equivalents at end of period | 101,479 | 29,904 |
Supplemental cash flow information | ||
Interest | 3,587 | 5,119 |
Other transactions: | ||
Investor loans transferred to OREO | 0 | 52 |
Lease liabilities arising from obtaining right-of-use assets | $ 15 | $ 15 |
Note 1 - Basis of Presentation_
Note 1 - Basis of Presentation/Subsequent Event | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. The consolidated financial statements of FNCB are comprised of the accounts of FNCB Bancorp, Inc., and its wholly owned subsidiary, FNCB Bank (the “Bank”), as well as the Bank’s wholly owned subsidiaries (collectively, “FNCB”). The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 01 X. not not three and six months ended June 30, 2020, may not The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to change in the near term are the allowance for loan and lease losses (“ALLL”), securities’ valuation and impairment evaluation, the valuation of other real estate owned (“OREO”), and income taxes. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in FNCB’s audited financial statements, included in the Annual Report filed on Form 10 December 31, 2019 . Risks and Uncertainties Related to COVID- 19 In March 2020, 2019 19" 19 The federal government has taken several actions designed to mitigate the impact of the economic disruption. Specifically, on March 27, 2020, $2.0 19, Business Continuity, Processes and Controls As a financial institution, FNCB is considered essential and has remained open for business and is operating under its pandemic preparedness plan. To ensure the financial needs of its customers are addressed in a safe and consistent manner, FNCB Bank offices are open for regular business, with administrative, lending and community branch offices adhering to federal, state, and local governmental guidelines and social distancing mandates. However, in order to limit the spread of COVID- 19 not six June 30, 2020, 19 not Financial Position and Results of Operations Bank regulators have issued guidance and are encouraging banks to work with customers affected by COVID- 19. 19 six may At June 30, 2020, 19 Lending Operations and Credit Risk As previously mentioned, FNCB is working with its lending customers that are facing unemployment, temporary furloughs and closures, by offering a payment deferral program. FNCB has provided either a short-term interest-only period or full payment deferral for periods of up to six June 30, 2020 , March 2020, not The CARES Act includes a Paycheck Protection Program ("PPP"), a program administered by the Small Business Administration ("SBA") designed to aid small- and medium-sized businesses through federally guaranteed loans distributed through banks. These loans were originally intended to guarantee eight June 5, 2020, eight 24 June 30, 2020 , Additionally, the Federal Reserve Bank established the Main Street Lending Program to support lending to small and mid-sized businesses and not 19 five $600 three 19 $250 $300 three 95.0%, 5.0%, 5 two one one three 300 not $250 $10 June 30, 2020, no June 30, 2020, 10 two 5.0% FNCB is prepared to continue to offer short-term assistance in accordance with regulatory guidelines and participate in the PPP and Main Street Lending Program. As the fallout of the COVID- 19 may may 19 |
Note 2 - New Authoritative Acco
Note 2 - New Authoritative Accounting Guidance | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 2. New Authoritative Accounting Guidance Accounting Guidance to be Adopted in Future Periods Accounting Standards Update (“ASU”) 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. may ASU 2016 13, 326 2016 13 not not June 17, 2016, 2016 13 not 2016 13, 2016 13 1934, December 15, 2019, may December 15, 2018, November 15, 2019, 2019 10, 326 815 842 not 2019 10, not December 15, 2022. , , January 1, 2023. 2016 13 not 1 2 3 4 may Refer to Note 2 2019 10 |
Note 3 - Securities Subsequent
Note 3 - Securities Subsequent Event | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3. Debt Securities The following tables present the amortized cost, gross unrealized gains and losses, and the fair value of FNCB’s available-for-sale debt securities at June 30, 2020 December 31, 2019 : June 30, 2020 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 169,805 $ 9,438 $ 43 $ 179,200 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 55,331 4,021 6 59,346 Collateralized mortgage obligations - commercial 4,520 193 3 4,710 Mortgage-backed securities 10,546 552 - 11,098 Private collateralized mortgage obligations 28,520 137 172 28,485 Corporate debt securities 15,800 43 156 15,687 Asset-backed securities 6,603 3 216 6,390 Negotiable certificates of deposit 694 1 - 695 Total available-for-sale debt securities $ 291,819 $ 14,388 $ 596 $ 305,611 December 31, 2019 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 115,428 $ 2,694 $ 359 $ 117,763 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 79,606 780 92 80,294 Collateralized mortgage obligations - commercial 17,414 320 11 17,723 Mortgage-backed securities 18,142 343 - 18,485 Private collateralized mortgage obligations 25,069 49 43 25,075 Corporate debt securities 7,000 182 - 7,182 Asset-backed securities 5,618 4 1 5,621 Negotiable certificates of deposit 694 2 - 696 Total available-for-sale debt securities $ 268,971 $ 4,374 $ 506 $ 272,839 Except for securities of U.S. government and government-sponsored agencies, there were no securities of any individual issuer that exceeded 10.0% 30, 2020 31, 2019. At June 30, 2020 December 31, 2019 The following table presents the maturity information of FNCB’s available-for-sale debt securities at June 30, 2020 . may not not June 30, 2020 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 1,194 $ 1,196 After one year through five years 52,863 55,853 After five years through ten years 45,271 47,079 After ten years 86,971 91,454 Asset-backed securities 6,603 6,390 Collateralized mortgage obligations 88,371 92,541 Mortgage-backed securities 10,546 11,098 Total available-for-sale debt securities $ 291,819 $ 305,611 The following table presents the gross proceeds received and gross realized gains and losses on sales of available-for-sale debt securities for the three six June 30, 2020 2019. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Available-for-sale debt securities: Gross proceeds received on sales $ 43,913 $ 36,142 $ 51,888 $ 61,272 Gross realized gains 1,027 173 1,176 349 Gross realized losses (105 ) (10 ) (105 ) (26 ) The following tables present the number, fair value and gross unrealized losses of available-for-sale debt securities with unrealized losses at June 30, 2020 December 31, 2019, June 30, 2020 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 3 $ 3,832 $ 43 - $ - $ - 3 $ 3,832 $ 43 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 1 4,034 6 - - - 1 4,034 6 Collateralized mortgage obligations - commercial 1 2,504 3 - - - 1 2,504 3 Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 11,090 172 - - - 4 11,090 172 Corporate debt securities 7 11,644 156 - - - 7 11,644 156 Asset-backed securities 5 5,881 216 - - - 5 5,881 216 Negotiable certificates of deposit - - - - - - - - - Total available-for-sale debt securities 21 $ 38,985 $ 596 - $ - $ - 21 $ 38,985 $ 596 December 31, 2019 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 10 $ 19,436 $ 359 - $ - $ - 10 $ 19,436 $ 359 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 4 19,934 92 - - - 4 19,934 92 Collateralized mortgage obligations - commercial 1 2,500 11 - - - 1 2,500 11 Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 18,990 43 - - - 4 18,990 43 Corporate debt securities - - - - - - - - - Asset-backed securities 2 888 1 - - - 2 888 1 Negotiable certificates of deposit - - - - - - - - - Total available-for-sale debt securities 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 Management evaluates individual securities in an unrealized loss position quarterly for other than temporary impairment (“OTTI”). As part of its evaluation, management considers, among other things, the length of time a security’s fair value is less than its amortized cost, the severity of decline, any credit deterioration of the issuer, whether or not not There were 21 June 30, 2020 , June 30, 2020 19 no may June 30, 2020 . not not not June 30, 2020 . Equity Securities At June 30, 2020 December 31, 2019, 1 4 June 30, 2020 December 31, 2019. The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the three six months ended June 30, 2020 and 2019. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Net gains recognized on equity securities $ 4 $ 14 $ 18 $ 26 Less: net gains (losses) recognized on equity securities sold - - - - Unrealized gains on equity securities held $ 4 $ 14 $ 18 $ 26 Restricted Securities The following table presents FNCB's investment in restricted stock at June 30, 2020 December 31, 2019 June 30, December 31, (in thousands) 2020 2019 Stock in Federal Home Loan Bank of Pittsburgh $ 3,299 $ 3,794 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 3,309 $ 3,804 Management noted no indicators of impairment for the Federal Home Loan Bank of Pittsburgh or Atlantic Community Banker’s Bank stock at June 30, 2020 December 31, 2019 . Equity Securities without Readily Determinable Fair Values/Subsequent Event At June 30, 2020 December 31, 2019, 2017 1933, not not June 30, 2020. $1.7 June 30, 2020 December 31, 2019. On December 18, 2019, July 1, 2020. no June 30, 2020. |
Note 4 - Loans
Note 4 - Loans | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. The following table summarizes loans receivable, net, by category at June 30, 2020 December 31, 2019 : June 30, December 31, (in thousands) 2020 2019 Residential real estate $ 170,517 $ 170,723 Commercial real estate 281,950 278,379 Construction, land acquisition and development 51,144 47,484 Commercial and industrial 280,270 147,623 Consumer 120,578 138,239 State and political subdivisions 46,443 43,908 Total loans, gross 950,902 826,356 Unearned income (123 ) (69 ) Net deferred loan (fees) costs (2,351 ) 2,192 Allowance for loan and lease losses (11,024 ) (8,950 ) Loans, net $ 937,404 $ 819,529 Included in commercial and industrial loans at June 30, 2020 June 30, 2020 may 100.0% no June 30, 2020. FNCB has granted loans, letters of credit and lines of credit to certain of its executive officers and directors as well as to certain of their related parties. For more information about related party transactions, refer to Note 9 FNCB originates 1 4 three six June 30, 2020 , the principal balance of 1-4 three six June 30, 2019, 1 4 three six June 30, 2020 , 2019. June 30, 2020 December 31, 2019 , 1 4 There were no three six 30, 2020 2019. June 30, 2020 December 31, 2019 . FNCB does not There were no six June 30, 2020 . 2, 2019 10 Management evaluates the credit quality of the loan portfolio on an ongoing basis and performs a formal review of the adequacy of the ALLL on a quarterly basis. This evaluation is inherently subjective, as it requires material estimates that may 19 June 30, 2020. may may may The following table summarizes activity in the ALLL by loan category for the three six June 30, 2020 2019 Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total Three months ended June 30, 2020 Allowance for loan losses: Beginning balance, April 1, 2020 $ 1,307 $ 3,557 $ 283 $ 2,304 $ 1,714 $ 270 $ 472 $ 9,907 Charge-offs - - - (92 ) (224 ) - - (316 ) Recoveries 37 1 - 425 139 - - 602 Provisions (credits) 7 384 77 (294 ) 60 67 530 831 Ending balance, June 30, 2020 $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Three months ended June 30, 2019 Allowance for loan losses: Beginning balance, April 1, 2019 $ 1,155 $ 3,051 $ 106 $ 2,499 $ 1,963 $ 423 $ 56 $ 9,253 Charge-offs (27 ) - (18 ) (621 ) (457 ) - - (1,123 ) Recoveries 2 14 - 123 329 - - 468 Provisions (credits) 22 364 90 70 4 (212 ) 9 347 Ending balance, June 30, 2019 $ 1,152 $ 3,429 $ 178 $ 2,071 $ 1,839 $ 211 $ 65 $ 8,945 Six months ended June 30, 2020 Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Charge-offs - (56 ) - (127 ) (462 ) - - (645 ) Recoveries 39 1 - 484 213 - - 737 Provisions (credits) 165 799 89 (11 ) 280 84 576 1,982 Ending balance, June 30, 2020 $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Six months ended June 30, 2019 Allowance for loan losses: Beginning balance, January 1, 2019 $ 1,175 $ 3,107 $ 188 $ 2,552 $ 2,051 $ 417 $ 29 $ 9,519 Charge-offs (27 ) - (18 ) (760 ) (772 ) - - (1,577 ) Recoveries 6 14 81 207 502 - - 810 Provisions (credits) (2 ) 308 (73 ) 72 58 (206 ) 36 193 Ending balance, June 30, 2019 $ 1,152 $ 3,429 $ 178 $ 2,071 $ 1,839 $ 211 $ 65 $ 8,945 The following table represents the allocation of the ALLL and the related loan balance, by loan category, disaggregated based on the impairment methodology at June 30, 2020 December 31, 2019 : Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total June 30, 2020 Allowance for loan losses: Individually evaluated for impairment $ 8 $ 267 $ - $ 237 $ 1 $ - $ - $ 513 Collectively evaluated for impairment 1,343 3,675 360 2,106 1,688 337 1002 10,511 Total $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Loans receivable: Individually evaluated for impairment $ 2,234 $ 10,647 $ 72 $ 1,050 $ 280 $ - $ - $ 14,283 Collectively evaluated for impairment 168,283 271,303 51,072 279,220 120,298 46,443 - 936,619 Total $ 170,517 $ 281,950 $ 51,144 $ 280,270 $ 120,578 $ 46,443 $ - $ 950,902 December 31, 2019 Allowance for loan losses: Individually evaluated for impairment $ 9 $ 221 $ - $ 242 $ 1 $ - $ - $ 473 Collectively evaluated for impairment 1,138 2,977 271 1,755 1,657 253 426 8,477 Total $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Loans receivable: Individually evaluated for impairment $ 2,711 $ 11,640 $ 76 $ 1,164 $ 195 $ - $ - $ 15,786 Collectively evaluated for impairment 168,012 266,739 47,408 146,459 138,044 43,908 - 810,570 Total $ 170,723 $ 278,379 $ 47,484 $ 147,623 $ 138,239 $ 43,908 $ - $ 826,356 Credit Quality Indicators – Commercial Loans Management continuously monitors and evaluates the credit quality of FNCB’s commercial loans by regularly reviewing certain credit quality indicators. Management utilizes credit risk ratings as the key credit quality indicator for evaluating the credit quality of FNCB’s loan receivables. FNCB’s loan rating system assigns a degree of risk to commercial loans based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. Management analyzes these non-homogeneous loans individually by grading the loans as to credit risk and probability of collection for each type of loan. Commercial and industrial loans include commercial indirect auto loans which are not not 1. Minimal Risk 2. Above Average Credit Quality 3. Average Risk 4. Acceptable Risk 5. Pass - Watch 6. Special Mention 7. Substandard - Accruing 8. Substandard - Non-Accrual 9. Doubtful 10. Loss This analysis is performed on a quarterly basis using the following definitions for risk ratings: Pass – Assets rated 1 5 no not Special Mention – Assets classified as special mention do not not Substandard – Assets classified as substandard have well defined weaknesses based on objective evidence, and are characterized by the distinct possibility that FNCB will sustain some loss if the deficiencies are not Doubtful – Assets classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that such weaknesses make collection or liquidation in full highly questionable and improbable based on current circumstances. Loss – Assets classified as loss are those considered uncollectible and of such little value that their continuance as assets is not Credit Quality Indicators – Other Loans Certain residential real estate loans, consumer loans, commercial and municipal indirect auto loans are monitored on a pool basis due to their homogeneous nature. Loans that are delinquent 90 days or more are placed on non-accrual status unless collection of the loan is in process and reasonably assured. FNCB utilizes accruing versus non-accrual status as the credit quality indicator for these loan pools. The following tables present the recorded investment in loans receivable by loan category and credit quality indicator at June 30, 2020 December 31, 2019 : Credit Quality Indicators June 30, 2020 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 29,511 $ 256 $ 252 $ - $ - $ 30,019 $ 139,646 $ 852 $ 140,498 $ 170,517 Commercial real estate 265,355 7,568 9,027 - - 281,950 - - - 281,950 Construction, land acquisition and development 49,326 - - - - 49,326 1,818 - 1,818 51,144 Commercial and industrial 274,337 599 1,205 - - 276,141 4,129 - 4,129 280,270 Consumer 3,627 - - - - 3,627 116,212 739 116,951 120,578 State and political subdivisions 46,430 - - - - 46,430 13 - 13 46,443 Total $ 668,586 $ 8,423 $ 10,484 $ - $ - $ 687,493 $ 261,818 $ 1,591 $ 263,409 $ 950,902 Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 32,219 $ 177 $ 307 $ - $ - $ 32,703 $ 136,709 $ 1,311 $ 138,020 $ 170,723 Commercial real estate 266,112 1,668 10,599 - - 278,379 - - - 278,379 Construction, land acquisition and development 46,361 - - - - 46,361 1,123 - 1,123 47,484 Commercial and industrial 140,589 426 1,484 - - 142,499 5,124 - 5,124 147,623 Consumer 3,111 - - - - 3,111 134,457 671 135,128 138,239 State and political subdivisions 43,908 - - - - 43,908 - - - 43,908 Total $ 532,300 $ 2,271 $ 12,390 $ - $ - $ 546,961 $ 277,413 $ 1,982 $ 279,395 $ 826,356 Loans classified as special mention were $8.4 million at June 30, 2020 December 31, 2019, June 30, 2020 December 31, 2020, three one six June 30, 2020. two Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers. The recorded investment in these non-accrual loans was $6.7 million and $9.1 million at June 30, 2020 December 31, 2019 , six no may may 90 no 90 June 30, 2020 December 31, 2019 . The following tables present the delinquency status of past due and non-accrual loans at June 30, 2020 December 31, 2019 : June 30, 2020 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 169,374 $ 79 $ - $ - $ 169,453 Commercial real estate 277,561 232 - - 277,793 Construction, land acquisition and development 51,144 - - - 51,144 Commercial and industrial 279,351 139 - - 279,490 Consumer 118,519 1,073 247 - 119,839 State and political subdivisions 46,443 - - - 46,443 Total performing (accruing) loans 942,392 1,523 247 - 944,162 Non-accrual loans: Residential real estate 510 21 - 533 1,064 Commercial real estate 1,589 - - 2,568 4,157 Construction, land acquisition and development - - - - - Commercial and industrial 682 - - 98 780 Consumer 295 133 116 195 739 State and political subdivisions - - - - - Total non-accrual loans 3,076 154 116 3,394 6,740 Total loans receivable $ 945,468 $ 1,677 $ 363 $ 3,394 $ 950,902 December 31, 2019 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 168,754 $ 134 $ 261 $ - $ 169,149 Commercial real estate 272,561 75 106 - 272,742 Construction, land acquisition and development 47,484 - - - 47,484 Commercial and industrial 146,221 200 - - 146,421 Consumer 135,384 1,695 489 - 137,568 State and political subdivisions 43,908 - - - 43,908 Total performing (accruing) loans 814,312 2,104 856 - 817,272 Non-accrual loans: Residential real estate 873 17 228 456 1,574 Commercial real estate 2,520 893 434 1,790 5,637 Construction, land acquisition and development - - - - - Commercial and industrial 943 - 114 145 1,202 Consumer 193 93 38 347 671 State and political subdivisions - - - - - Total non-accrual loans 4,529 1,003 814 2,738 9,084 Total loans receivable $ 818,841 $ 3,107 $ 1,670 $ 2,738 $ 826,356 The following tables present a distribution of the recorded investment, unpaid principal balance and the related allowance for FNCB’s impaired loans, which have been analyzed for impairment under ASC 310, June 30, 2020 December 31, 2019 . not not 450. $100 450 June 30, 2020 December 31, 2019 . June 30, 2020 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 815 $ 893 $ - Commercial real estate 3,388 4,902 - Construction, land acquisition and development 72 72 - Commercial and industrial 179 179 - Consumer 112 116 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 4,565 6,162 - With a related allowance recorded: Residential real estate 1,419 1,419 8 Commercial real estate 7,259 7,978 267 Construction, land acquisition and development - - - Commercial and industrial 871 1,107 237 Consumer 168 168 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,717 10,672 513 Total impaired loans: Residential real estate 2,234 2,312 8 Commercial real estate 10,647 12,880 267 Construction, land acquisition and development 72 72 - Commercial and industrial 1,050 1,286 237 Consumer 280 284 1 State and political subdivisions - - - Total impaired loans $ 14,283 $ 16,834 $ 513 December 31, 2019 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 1,217 $ 1,303 $ - Commercial real estate 4,548 6,007 - Construction, land acquisition and development 76 76 - Commercial and industrial 593 850 - Consumer 23 26 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 6,457 8,262 - With a related allowance recorded: Residential real estate 1,494 1,494 9 Commercial real estate 7,092 7,811 221 Construction, land acquisition and development - - - Commercial and industrial 571 573 242 Consumer 172 172 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,329 10,050 473 Total impaired loans: Residential real estate 2,711 2,797 9 Commercial real estate 11,640 13,818 221 Construction, land acquisition and development 76 76 - Commercial and industrial 1,164 1,423 242 Consumer 195 198 1 State and political subdivisions - - - Total impaired loans $ 15,786 $ 18,312 $ 473 The following table presents the average balance and interest income by loan category recognized on impaired loans for the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Average Interest Average Interest Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Balance Income (1) Balance Income (1) Residential real estate $ 2,274 $ 20 $ 1,878 $ 20 $ 2,422 $ 40 $ 1,858 $ 41 Commercial real estate 10,980 70 9,229 76 11,150 138 9,430 153 Construction, land acquisition and development 73 1 80 2 74 2 81 3 Commercial and industrial 1,236 6 1,337 1 1,125 6 1,192 1 Consumer 282 1 200 2 237 3 290 7 State and political subdivisions - - - - - - - - Total impaired loans $ 14,845 $ 98 $ 12,724 $ 101 $ 15,008 $ 189 $ 12,851 $ 205 ( 1 The additional interest income that would have been earned on non-accrual and restructured loans had these loans performed in accordance with their original terms approximated $94 thousand and $205 thousand for the three six June 30, 2020 three six June 30, 2019, Troubled Debt Restructured Loans TDRs at both June 30, 2020 December 31, 2019 June 30, 2020, December 31, 2019. June 30, 2020 December 31, 2019, not June 30, 2020. The modification of the terms of loans classified as TDRs may one There were three one three six June 30, 2020. three one one three six June 30, 2019. no 12 90 three six June 30, 2020 2019 one 12 $103 90 three six June 30, 2019. Modifications Related to COVID- 19 In late March 2020, 19 not 4013 19 December 31, 2019 not June 30, 2020, The following table presents the number, and aggregate recorded investment, of COVID- 19 June 30, 2020. Deferrals Remaining (in thousands) As of June 30, 2020 COVID -19 related loan modifications: Number of Loans Recorded Investment Residential real estate 213 $ 20,338 Commercial real estate 160 108,100 Construction, land acquisition and development 16 16,340 Commercial and industrial 110 23,880 Consumer 406 7,920 State and political subdivisions - - Total 905 $ 176,578 As of July 30, 2020, July 30, 2020 not Residential Real Estate Loan Foreclosures There were no three six June 30, 2020 June 30, 2020 There were two June 30, 2019. no two June 30, 2019. one one three six June 30, 2019 June 30, 2019. |
Note 5 - Deposits
Note 5 - Deposits | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 5 The following table presents deposits by major category at June 30, 2020 December 31, 2019 : June 30, December 31, (in thousands) 2020 2019 Demand (non-interest bearing) $ 266,846 $ 179,465 Interest-bearing: Interest-bearing demand 607,436 534,677 Savings 103,197 94,530 Time ($250,000 and over) 41,735 48,425 Other time 150,413 144,612 Total interest-bearing 902,781 822,244 Total deposits $ 1,169,627 $ 1,001,709 Total deposits were $1.170 billion at June 30, 2020 December 31, 2019. $250,000 June 30, 2020 December 31, 2019, June 30, 2020 December 31, 2019, 19 |
Note 6 - Borrowings
Note 6 - Borrowings | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 6 . Borrowings FNCB has an agreement with the Federal Home Loan Bank (“FHLB”) of Pittsburgh which allows for borrowings, either overnight or term, up to a maximum borrowing capacity based on a percentage of qualifying loans pledged under a blanket pledge agreement. In addition to pledging loans, FNCB is required to purchase FHLB of Pittsburgh stock based upon the amount of credit extended. Loans that were pledged to collateralize borrowings under this agreement were $485.7 million at June 30, 2020 December 31, 2019. June 30, 2020. three two June 30, 2020 June 30, 2020. Advances through the Federal Reserve Bank Discount Window generally include short-term advances which are fully collateralized by certain pledged loans in the amount of $33.5 million under the Federal Reserve Bank’s Borrower-in-Custody (“BIC”) program. There were no advances under the BIC program outstanding at June 30, 2020 December 31, 2019. June 30, 2020. At June 30, 2020, April 9, 2020 June 30, 2020, June 30, 2020. June 30, December 31, (in thousands) 2020 2019 Federal Reserve Discount Window advances $ 36,242 $ - FHLB of Pittsburgh advances: Overnight advances - 14,100 Term advances 42,809 32,809 Subtotal FHLB of Pittsburgh advances 42,809 46,909 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 89,361 $ 57,219 |
Note 7 - Derivative and Hedging
Note 7 - Derivative and Hedging Transactions | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 7. Risk Management Objective of Using Derivatives FNCB is exposed to certain risks arising from both its business operations and economic conditions. It principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. FNCB manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, FNCB enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Derivative financial instruments are used to manage differences in the amount, timing, and duration of known or expected cash receipts and its known or expected cash payments principally related to FNCB's borrowings. Cash Flow Hedges of Interest Rate Risk FNCB’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, FNCB primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for FNCB making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During 2020, For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on FNCB’s variable-rate debt. During 2020, Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of FNCB’s derivative financial instruments and the classification on the consolidated statements of financial condition at June 30, 2020 December 31, 2019. Derivative Assets Derivative Liabilities As of June 30, 2020 As of December 31, 2019 As of June 30, 2020 As of December 31, 2019 (in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate products $ - Other assets $ - Other assets $ - $ 30,000 Other liabilities $ 126 Other liabilities $ - Total derivatives designated as hedging instruments - - 126 - Cash and other collateral (1) - - - - Net derivative amounts $ $ - $ - $ $ 126 $ - ( 1 not Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income The table below presents the effect of fair value and cash flow hedge accounting on Accumulated Other Comprehensive Income as of June 30, 2020; not Three Months Ended June 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ (99 ) $ (99 ) $ - Interest expense $ 33 $ 33 $ - Total $ (99 ) $ (99 ) $ - $ 33 $ 33 $ - Six Months Ended June 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ (112 ) $ (112 ) $ - Interest expense $ 35 $ 35 $ - Total $ (112 ) $ (112 ) $ - $ 35 $ 35 $ - Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income There were no six June 30, 2019. three six June 30, 2020. Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three Months Ended Six Months Ended June 30, 2020 June 30, 2020 (in thousands) Interest Expense Interest Expense Total amounts of income and expense line items presented in the cash flow statement of financial performance in which the effects of fair value or hedges are recorded $ 33 $ 35 The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 Interest contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income $ 33 $ 35 Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring $ - $ - Amount of gain or (loss) reclassified from accumulated OCI into income - included component $ 33 $ 35 Amount of gain or (loss) reclassified from accumulated OCI into income - excluded component $ - $ - Credit-risk-related Contingent Features FNCB has agreements with each of its derivative counterparties that contain a provision where if FNCB defaults or is capable of being declared in default on any of its indebtedness, then it could also be declared in default on its derivative obligations. FNCB has agreements with certain of its derivative counterparties that contain a provision where if it fails to maintain its status as a well-capitalized institution, then it could be required to post additional collateral. As of June 30, 2020, June 30, 2020, not June 30, 2020, . |
Note 8 - Income Taxes
Note 8 - Income Taxes | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 8. The following table presents a reconciliation between the effective income tax expense and the income tax expense that would have been provided at the federal statutory tax rate of 21.0% for the three six June 30, 2020 2019 For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,013 21.00 % $ 643 21.00 % $ 1,541 21.00 % $ 1,313 21.00 % Add (deduct): Tax effects of tax free interest income (165 ) (3.42 )% (78 ) (2.55 )% (271 ) (3.69 )% (184 ) (2.94 )% Non-deductible interest expense 4 0.09 % 2 0.06 % 9 0.12 % 7 0.11 % Bank-owned life insurance (25 ) (0.52 )% (27 ) (0.88 )% (52 ) (0.71 )% (55 ) (0.88 )% Other items, net (22 ) (0.47 )% (26 ) (0.85 )% 30 0.41 % (12 ) (0.19 )% Income tax provision $ 805 16.68 % $ 514 16.78 % $ 1,257 17.13 % $ 1,069 17.10 % FNCB's net deferred tax assets were $3.0 million at June 30, 2020 31, 2019. 30, 2020, Management evaluates the carrying amount of its deferred tax assets on a quarterly basis, or more frequently if necessary, in accordance with guidance set forth in ASC Topic 740 not not not not not Management performed an evaluation of FNCB’s deferred tax assets at June 30, 2020 not June 30, 2020 December 31, 2019 . |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 9. In conducting its business, FNCB has engaged in, and intends to continue to engage in, banking and financial transactions with directors, executive officers and their related parties. FNCB has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans, advances under lines of credit, net of any participations sold, as well as repayments during the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 82,818 $ 72,150 $ 77,896 $ 64,634 Additions, new loans and advances 13,143 12,004 30,696 29,093 Repayments (2,388 ) (5,402 ) (15,019 ) (14,975 ) Balance, end of period $ 93,573 $ 78,752 $ 93,573 $ 78,752 At June 30, 2020 , twelve related party loans with an aggregate balance of $15.4 million were provided a short-term, COVID-19 payment modification. Other than these modifications, not Deposits from directors, executive officers and their related parties held by the Bank at June 30, 2020 December 31, 2019 six June 30, 2020 2019 In the course of its operations, FNCB acquires goods and services from, and transacts business with, various companies of related parties, which include, but are not three six June 30, 2020, 2019. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10 . Commitments and Contingencies Leases FNCB is obligated under operating leases for certain bank branches, office space, automobiles and equipment. Operating lease right of use ("ROU") assets represent FNCB's right to use an underlying asset during the lease term and operating liabilities represent our obligation to make lease payments under the lease agreement. ROU 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 FNCB's incremental borrowing rate at the commencement date. ROU assets are included in other assets and operating lease liabilities are included in other liabilities in the consolidated statements of financial condition. As of June 30, 2020 one six June 30, 2020 The following table summarizes the components of FNCB's operating lease expense for the three six June 30, 2020 2019. (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Operating lease cost - bank branches $ 91 $ 86 $ 177 $ 171 Operating lease cost - automobiles and equipment 8 6 20 8 Short-term lease cost - office space 9 9 18 24 Short-term lease cost - automobiles and equipment - 2 - 5 Variable lease cost - - - - Total lease cost $ 108 $ 103 $ 215 $ 208 The following table summarizes the maturity of remaining operating lease liabilities as of June 30, 2020 (in thousands) June 30, 2020 2020 $ 172 2021 361 2022 331 2023 323 2024 287 2025 and thereafter 2,813 Total lease payments 4,287 Less: imputed interest 956 Present value of operating lease liabilities $ 3,331 The following table presents other information related to our operating leases: (dollars in thousands) June 30, 2020 Weighted-average remaining lease term 13.99 years Weighted-average discount rate 3.47 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 216 Litigation FNCB has been subject to tax audits, and is also a party to routine litigation involving various aspects of its business, such as employment practice claims, workers compensation claims, claims to enforce liens, condemnation proceedings on properties in which FNCB holds security interests, claims involving the making and servicing of real property loans and other issues incident to its business, none |
Note 11 - Stock Compensation Pl
Note 11 - Stock Compensation Plans Subsequent Event | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 11 . Stock Compensation Plans/Subsequent Event FNCB has a Long-Term Incentive Compensation Plan (“LTIP”) for directors, executives and key employees. The LTIP authorizes up to 1,200,000 shares of common stock for issuance and provides the Board of Directors with the authority to offer several different types of long-term incentives, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares. During the six June 30, 2020 2019 June 30, 2020 , six June 30, 2020 2019 June 30, 2020 2019 On July 1, 2020, ten July 1, 2020. The following table summarizes the activity related to FNCB’s unvested restricted stock awards during the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Restricted Grant Date (dollars in thousands) Shares Fair Value Shares Fair Value Shares Fair Value Shares Fair Value Unvested restricted stock awards: Total outstanding, beginning of period 201,415 $ 7.14 172,386 $ 7.55 128,150 $ 7.76 114,702 $ 7.50 Awards granted - - - - 75,924 6.07 57,684 7.64 Forfeitures - - (781 ) 7.68 (2,659 ) 6.24 (781 ) 7.68 Vestings (31,783 ) 7.69 (37,558 ) 6.80 (31,783 ) 7.69 (37,558 ) 6.80 Total outstanding, end of period 169,632 $ 7.04 134,047 $ 7.75 169,632 $ 7.04 134,047 $ 7.75 |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 12 . Regulatory Matters On January 28, 2019, February 8, 2019 first 2019, FNCB’s ability to pay dividends to its shareholders is largely dependent on the Bank’s ability to pay dividends to FNCB. Bank regulations limit the amount of dividends that may three six June 30, 2020, three six 30, 2019. three six June 30, 2020 2019 d three six June 30, 2020 2019 2019. June 30, 2020 July 30 , 2020, third 2020 September 15 , 2020 September 1, 2020. In 2018, $1 $3 June 30, 2020 December 31, 2019, 2.500% 2020 2019. June 30, 2020 December 31, 2019. Current quantitative measures established by regulation to ensure capital adequacy require FNCB Bank to maintain minimum amounts and ratios (set forth in the tables below) of Total capital, Tier I capital, and Tier I common equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). The following tables present summary information regarding the Bank’s risk-based capital and related ratios at June 30, 2020 December 31, 2019 : FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio June 30, 2020 Total capital (to risk-weighted assets) $ 148,033 15.68 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 136,348 14.44 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 136,348 14.44 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 136,348 10.42 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 944,154 Total average assets 1,308,588 FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2019 Total capital (to risk-weighted assets) $ 133,406 14.77 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 123,753 13.70 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 123,753 13.70 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 123,753 10.36 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 903,172 Total average assets 1,194,789 |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 13 . Fair Value Measurements In determining fair value, FNCB uses various valuation approaches, including market, income and cost approaches. Accounting standards establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability, which are developed based on market data obtained from sources independent of FNCB. Unobservable inputs reflect FNCB’s knowledge about the assumptions the market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 3 three ● Level 1 ● Level 2 not ● Level 3 not A description of the valuation methodologies used for assets recorded at fair value is set forth below. Available-for-Sale Debt Securities The estimated fair values for FNCB’s investments in obligations of U.S. government agencies, obligations of state and political subdivisions, government-sponsored agency CMOs and mortgage-backed securities, private collateralized mortgage obligations, asset-backed securities and negotiable certificates of deposit are obtained by FNCB from a nationally-recognized pricing service. This pricing service develops estimated fair values by analyzing like securities and applying available market information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing (Level 2 may 2 2 not not 2 For those securities for which the inputs used by an independent pricing service were derived from unobservable market information, FNCB evaluated the appropriateness and quality of each price. Management reviewed the volume and level of activity for all classes of securities and attempted to identify transactions which may not may 3 third At June 30, 2020 ten seven ten June 30, 2020 not not third 3 third Equity Securities The estimated fair values of equity securities are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 Derivative Contracts FNCB's derivative liabilities are reported at fair value utilizing Level 2 may Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present the financial assets and liabilities that were measured at fair value on a recurring basis at June 30, 2020 December 31, 2019 , Fair Value Measurements at June 30, 2020 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Available-for-sale debt securities: Obligations of state and political subdivisions $ 179,200 $ - $ 179,200 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 59,346 - 59,346 - Collateralized mortgage obligations - commercial 4,710 - 4,710 - Mortgage-backed securities 11,098 - 11,098 - Private collateralized mortgage obligations 28,485 - 28,485 - Corporate debt securities 15,687 - 3,974 11,713 Asset-backed securities 6,390 - 6,390 - Negotiable certificates of deposit 695 - 695 - Subtotal available-for-sale debt securities 305,611 - 293,898 11,713 Equity securities, at fair value 938 938 - - Total $ 306,549 $ 938 $ 293,898 $ 11,713 Financial liabilities: Derivative liabilities $ 126 $ - $ 126 $ - Total $ 126 $ - $ 126 $ - Fair Value Measurements at December 31, 2019 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale debt securities: Obligations of state and political subdivisions $ 117,763 $ - $ 117,763 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 80,294 - 80,294 - Collateralized mortgage obligations - commercial 17,723 - 17,723 - Mortgage-backed securities 18,485 - 18,485 - Private collateralized mortgage obligations 25,075 - 25,075 - Corporate debt securities 7,182 - 2,032 5,150 Asset-backed securities 5,621 - 5,621 - Negotiable certificates of deposit 696 - 696 - Subtotal available-for-sale debt securities 272,839 - 267,689 5,150 Equity securities, at fair value 920 920 - - Total $ 273,759 $ 920 $ 267,689 $ 5,150 There were no six June 30, 2020 2019 The following table presents a reconciliation and statement of operations classifications of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3 six June 30, 2020 2019 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities For the Six Months Ended June 30, (in thousands) 2020 2019 Balance at January 1, $ 5,150 $ 3,929 Additions 8,800 1,000 Payments Received - - Sales - - Total gains or losses (realized/unrealized): Included in earnings - - Included in other comprehensive income (loss) (2,237 ) 152 Balance at June 30, $ 11,713 $ 5,081 Assets Measured at Fair Value on a Non-Recurring Basis The following tables present assets and liabilities measured at fair value on a non-recurring basis at June 30, 2020 December 31, 2019 , 3 June 30, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 5,484 $ 352 $ 5,132 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 8,799 161 8,638 Discounted cash flows Discount rate 3.00% 8.75% December 31, 2019 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 7,721 $ 376 $ 7,345 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 8,065 97 7,968 Discounted cash flows Discount rate 3.99%-7.49% Other real estate owned 289 - 289 Appraisal of collateral Selling cost 10.0 % The fair value of collateral-dependent impaired loans is determined through independent appraisals or other reasonable offers, which generally include various Level 3 not may not OREO properties are recorded at fair value less the estimated cost to sell at the date of FNCB’s acquisition of the property. Subsequent to acquisition of the property, the balance may may The following table summarizes the estimated fair values of FNCB’s financial instruments using an exit price notion at June 30, 2020 December 31, 2019 . not not not may Fair Value June 30, 2020 December 31, 2019 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 101,479 $ 101,479 $ 34,565 $ 34,565 Available-for-sale debt securities See previous table 305,611 305,611 272,839 272,839 Equity securities, at fair value Level 1 938 938 920 920 Restricted stock Level 2 3,309 3,309 3,804 3,804 Loans held for sale Level 2 765 765 1,061 1,061 Loans, net Level 3 937,404 937,890 819,529 810,074 Accrued interest receivable Level 2 5,201 5,201 3,234 3,234 Equity securities without readily determinable fair values Level 3 1,658 1,658 1,658 1,658 Servicing rights Level 3 303 557 356 790 Financial liabilities Deposits Level 2 1,169,627 1,171,369 1,001,709 1,001,829 Borrowed funds Level 2 89,361 89,764 57,219 57,234 Accrued interest payable Level 2 248 248 258 258 Derivative liabilities Level 2 126 126 - - |
Note 14 - Earnings Per Share
Note 14 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 14 For FNCB, the numerator of both the basic and diluted earnings per share of common stock is net income available to common shareholders. The weighted-average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common share equivalents utilizing the treasury stock method. For the three six June 30, 2020 2019, The following table presents the calculation of both basic and diluted earnings per share of common stock for the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share data) 2020 2019 2020 2019 Net income $ 4,021 $ 2,549 $ 6,084 $ 5,184 Basic weighted-average number of common shares outstanding 20,191,527 20,129,150 20,182,012 19,428,717 Plus: Common share equivalents - 4,700 2,034 6,359 Diluted weighted-average number of common shares outstanding 20,191,527 20,133,850 20,184,046 19,435,076 Income per common share: Basic $ 0.20 $ 0.13 $ 0.30 $ 0.27 Diluted $ 0.20 $ 0.13 $ 0.30 $ 0.27 |
Note 15 - Other Comprehensive I
Note 15 - Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 15 . The following table summarizes the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2020 and 2019, For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 (in thousands) Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (922 ) Net gain on the sale of available-for-sale debt securities $ (1,071 ) Net gain on the sale of available-for-sale debt securities Taxes 193 Income taxes 225 Income taxes Net of tax amount $ (729 ) $ (846 ) For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 (in thousands) Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (163) Net gain on the sale of available-for-sale debt securities $ (323) Net gain on the sale of available-for-sale debt securities Taxes 34 Income taxes 68 Income taxes Net of tax amount $ (129) $ (255) The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax for the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 6,351 $ (989 ) $ 3,056 $ (4,540 ) Other comprehensive income (loss) before reclassifications 5,157 4,431 8,569 8,108 Amount reclassified from accumulated other comprehensive income (loss) (729 ) (129 ) (846 ) (255 ) Net other comprehensive income (loss) during the period 4,428 4,302 7,723 7,853 Balance, end of period $ 10,779 $ 3,313 $ 10,779 $ 3,313 |
Note 3 - Securities Subsequen_2
Note 3 - Securities Subsequent Event (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2020 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 169,805 $ 9,438 $ 43 $ 179,200 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 55,331 4,021 6 59,346 Collateralized mortgage obligations - commercial 4,520 193 3 4,710 Mortgage-backed securities 10,546 552 - 11,098 Private collateralized mortgage obligations 28,520 137 172 28,485 Corporate debt securities 15,800 43 156 15,687 Asset-backed securities 6,603 3 216 6,390 Negotiable certificates of deposit 694 1 - 695 Total available-for-sale debt securities $ 291,819 $ 14,388 $ 596 $ 305,611 December 31, 2019 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (in thousands) Cost Gains Losses Value Available-for-sale debt securities: Obligations of state and political subdivisions $ 115,428 $ 2,694 $ 359 $ 117,763 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 79,606 780 92 80,294 Collateralized mortgage obligations - commercial 17,414 320 11 17,723 Mortgage-backed securities 18,142 343 - 18,485 Private collateralized mortgage obligations 25,069 49 43 25,075 Corporate debt securities 7,000 182 - 7,182 Asset-backed securities 5,618 4 1 5,621 Negotiable certificates of deposit 694 2 - 696 Total available-for-sale debt securities $ 268,971 $ 4,374 $ 506 $ 272,839 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2020 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 1,194 $ 1,196 After one year through five years 52,863 55,853 After five years through ten years 45,271 47,079 After ten years 86,971 91,454 Asset-backed securities 6,603 6,390 Collateralized mortgage obligations 88,371 92,541 Mortgage-backed securities 10,546 11,098 Total available-for-sale debt securities $ 291,819 $ 305,611 |
Gain (Loss) on Securities [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Available-for-sale debt securities: Gross proceeds received on sales $ 43,913 $ 36,142 $ 51,888 $ 61,272 Gross realized gains 1,027 173 1,176 349 Gross realized losses (105 ) (10 ) (105 ) (26 ) Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Net gains recognized on equity securities $ 4 $ 14 $ 18 $ 26 Less: net gains (losses) recognized on equity securities sold - - - - Unrealized gains on equity securities held $ 4 $ 14 $ 18 $ 26 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2020 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 3 $ 3,832 $ 43 - $ - $ - 3 $ 3,832 $ 43 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 1 4,034 6 - - - 1 4,034 6 Collateralized mortgage obligations - commercial 1 2,504 3 - - - 1 2,504 3 Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 11,090 172 - - - 4 11,090 172 Corporate debt securities 7 11,644 156 - - - 7 11,644 156 Asset-backed securities 5 5,881 216 - - - 5 5,881 216 Negotiable certificates of deposit - - - - - - - - - Total available-for-sale debt securities 21 $ 38,985 $ 596 - $ - $ - 21 $ 38,985 $ 596 December 31, 2019 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of state and political subdivisions 10 $ 19,436 $ 359 - $ - $ - 10 $ 19,436 $ 359 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 4 19,934 92 - - - 4 19,934 92 Collateralized mortgage obligations - commercial 1 2,500 11 - - - 1 2,500 11 Mortgage-backed securities - - - - - - - - - Private collateralized mortgage obligations 4 18,990 43 - - - 4 18,990 43 Corporate debt securities - - - - - - - - - Asset-backed securities 2 888 1 - - - 2 888 1 Negotiable certificates of deposit - - - - - - - - - Total available-for-sale debt securities 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 |
Investment [Table Text Block] | June 30, December 31, (in thousands) 2020 2019 Stock in Federal Home Loan Bank of Pittsburgh $ 3,299 $ 3,794 Stock in Atlantic Community Banker's Bank 10 10 Total restricted securities, at cost $ 3,309 $ 3,804 |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, (in thousands) 2020 2019 Residential real estate $ 170,517 $ 170,723 Commercial real estate 281,950 278,379 Construction, land acquisition and development 51,144 47,484 Commercial and industrial 280,270 147,623 Consumer 120,578 138,239 State and political subdivisions 46,443 43,908 Total loans, gross 950,902 826,356 Unearned income (123 ) (69 ) Net deferred loan (fees) costs (2,351 ) 2,192 Allowance for loan and lease losses (11,024 ) (8,950 ) Loans, net $ 937,404 $ 819,529 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total Three months ended June 30, 2020 Allowance for loan losses: Beginning balance, April 1, 2020 $ 1,307 $ 3,557 $ 283 $ 2,304 $ 1,714 $ 270 $ 472 $ 9,907 Charge-offs - - - (92 ) (224 ) - - (316 ) Recoveries 37 1 - 425 139 - - 602 Provisions (credits) 7 384 77 (294 ) 60 67 530 831 Ending balance, June 30, 2020 $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Three months ended June 30, 2019 Allowance for loan losses: Beginning balance, April 1, 2019 $ 1,155 $ 3,051 $ 106 $ 2,499 $ 1,963 $ 423 $ 56 $ 9,253 Charge-offs (27 ) - (18 ) (621 ) (457 ) - - (1,123 ) Recoveries 2 14 - 123 329 - - 468 Provisions (credits) 22 364 90 70 4 (212 ) 9 347 Ending balance, June 30, 2019 $ 1,152 $ 3,429 $ 178 $ 2,071 $ 1,839 $ 211 $ 65 $ 8,945 Six months ended June 30, 2020 Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Charge-offs - (56 ) - (127 ) (462 ) - - (645 ) Recoveries 39 1 - 484 213 - - 737 Provisions (credits) 165 799 89 (11 ) 280 84 576 1,982 Ending balance, June 30, 2020 $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Six months ended June 30, 2019 Allowance for loan losses: Beginning balance, January 1, 2019 $ 1,175 $ 3,107 $ 188 $ 2,552 $ 2,051 $ 417 $ 29 $ 9,519 Charge-offs (27 ) - (18 ) (760 ) (772 ) - - (1,577 ) Recoveries 6 14 81 207 502 - - 810 Provisions (credits) (2 ) 308 (73 ) 72 58 (206 ) 36 193 Ending balance, June 30, 2019 $ 1,152 $ 3,429 $ 178 $ 2,071 $ 1,839 $ 211 $ 65 $ 8,945 Construction, Land State and Residential Commercial Acquisition and Commercial Political (in thousands) Real Estate Real Estate Development and Industrial Consumer Subdivisions Unallocated Total June 30, 2020 Allowance for loan losses: Individually evaluated for impairment $ 8 $ 267 $ - $ 237 $ 1 $ - $ - $ 513 Collectively evaluated for impairment 1,343 3,675 360 2,106 1,688 337 1002 10,511 Total $ 1,351 $ 3,942 $ 360 $ 2,343 $ 1,689 $ 337 $ 1,002 $ 11,024 Loans receivable: Individually evaluated for impairment $ 2,234 $ 10,647 $ 72 $ 1,050 $ 280 $ - $ - $ 14,283 Collectively evaluated for impairment 168,283 271,303 51,072 279,220 120,298 46,443 - 936,619 Total $ 170,517 $ 281,950 $ 51,144 $ 280,270 $ 120,578 $ 46,443 $ - $ 950,902 December 31, 2019 Allowance for loan losses: Individually evaluated for impairment $ 9 $ 221 $ - $ 242 $ 1 $ - $ - $ 473 Collectively evaluated for impairment 1,138 2,977 271 1,755 1,657 253 426 8,477 Total $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Loans receivable: Individually evaluated for impairment $ 2,711 $ 11,640 $ 76 $ 1,164 $ 195 $ - $ - $ 15,786 Collectively evaluated for impairment 168,012 266,739 47,408 146,459 138,044 43,908 - 810,570 Total $ 170,723 $ 278,379 $ 47,484 $ 147,623 $ 138,239 $ 43,908 $ - $ 826,356 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators June 30, 2020 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 29,511 $ 256 $ 252 $ - $ - $ 30,019 $ 139,646 $ 852 $ 140,498 $ 170,517 Commercial real estate 265,355 7,568 9,027 - - 281,950 - - - 281,950 Construction, land acquisition and development 49,326 - - - - 49,326 1,818 - 1,818 51,144 Commercial and industrial 274,337 599 1,205 - - 276,141 4,129 - 4,129 280,270 Consumer 3,627 - - - - 3,627 116,212 739 116,951 120,578 State and political subdivisions 46,430 - - - - 46,430 13 - 13 46,443 Total $ 668,586 $ 8,423 $ 10,484 $ - $ - $ 687,493 $ 261,818 $ 1,591 $ 263,409 $ 950,902 Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total (in thousands) Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 32,219 $ 177 $ 307 $ - $ - $ 32,703 $ 136,709 $ 1,311 $ 138,020 $ 170,723 Commercial real estate 266,112 1,668 10,599 - - 278,379 - - - 278,379 Construction, land acquisition and development 46,361 - - - - 46,361 1,123 - 1,123 47,484 Commercial and industrial 140,589 426 1,484 - - 142,499 5,124 - 5,124 147,623 Consumer 3,111 - - - - 3,111 134,457 671 135,128 138,239 State and political subdivisions 43,908 - - - - 43,908 - - - 43,908 Total $ 532,300 $ 2,271 $ 12,390 $ - $ - $ 546,961 $ 277,413 $ 1,982 $ 279,395 $ 826,356 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2020 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 169,374 $ 79 $ - $ - $ 169,453 Commercial real estate 277,561 232 - - 277,793 Construction, land acquisition and development 51,144 - - - 51,144 Commercial and industrial 279,351 139 - - 279,490 Consumer 118,519 1,073 247 - 119,839 State and political subdivisions 46,443 - - - 46,443 Total performing (accruing) loans 942,392 1,523 247 - 944,162 Non-accrual loans: Residential real estate 510 21 - 533 1,064 Commercial real estate 1,589 - - 2,568 4,157 Construction, land acquisition and development - - - - - Commercial and industrial 682 - - 98 780 Consumer 295 133 116 195 739 State and political subdivisions - - - - - Total non-accrual loans 3,076 154 116 3,394 6,740 Total loans receivable $ 945,468 $ 1,677 $ 363 $ 3,394 $ 950,902 December 31, 2019 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Residential real estate $ 168,754 $ 134 $ 261 $ - $ 169,149 Commercial real estate 272,561 75 106 - 272,742 Construction, land acquisition and development 47,484 - - - 47,484 Commercial and industrial 146,221 200 - - 146,421 Consumer 135,384 1,695 489 - 137,568 State and political subdivisions 43,908 - - - 43,908 Total performing (accruing) loans 814,312 2,104 856 - 817,272 Non-accrual loans: Residential real estate 873 17 228 456 1,574 Commercial real estate 2,520 893 434 1,790 5,637 Construction, land acquisition and development - - - - - Commercial and industrial 943 - 114 145 1,202 Consumer 193 93 38 347 671 State and political subdivisions - - - - - Total non-accrual loans 4,529 1,003 814 2,738 9,084 Total loans receivable $ 818,841 $ 3,107 $ 1,670 $ 2,738 $ 826,356 |
Impaired Financing Receivables [Table Text Block] | June 30, 2020 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 815 $ 893 $ - Commercial real estate 3,388 4,902 - Construction, land acquisition and development 72 72 - Commercial and industrial 179 179 - Consumer 112 116 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 4,565 6,162 - With a related allowance recorded: Residential real estate 1,419 1,419 8 Commercial real estate 7,259 7,978 267 Construction, land acquisition and development - - - Commercial and industrial 871 1,107 237 Consumer 168 168 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,717 10,672 513 Total impaired loans: Residential real estate 2,234 2,312 8 Commercial real estate 10,647 12,880 267 Construction, land acquisition and development 72 72 - Commercial and industrial 1,050 1,286 237 Consumer 280 284 1 State and political subdivisions - - - Total impaired loans $ 14,283 $ 16,834 $ 513 December 31, 2019 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 1,217 $ 1,303 $ - Commercial real estate 4,548 6,007 - Construction, land acquisition and development 76 76 - Commercial and industrial 593 850 - Consumer 23 26 - State and political subdivisions - - - Total impaired loans with no related allowance recorded 6,457 8,262 - With a related allowance recorded: Residential real estate 1,494 1,494 9 Commercial real estate 7,092 7,811 221 Construction, land acquisition and development - - - Commercial and industrial 571 573 242 Consumer 172 172 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,329 10,050 473 Total impaired loans: Residential real estate 2,711 2,797 9 Commercial real estate 11,640 13,818 221 Construction, land acquisition and development 76 76 - Commercial and industrial 1,164 1,423 242 Consumer 195 198 1 State and political subdivisions - - - Total impaired loans $ 15,786 $ 18,312 $ 473 |
Schedule of Average Balance and Interest Income on Impaired Loans [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Average Interest Average Interest Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Balance Income (1) Balance Income (1) Residential real estate $ 2,274 $ 20 $ 1,878 $ 20 $ 2,422 $ 40 $ 1,858 $ 41 Commercial real estate 10,980 70 9,229 76 11,150 138 9,430 153 Construction, land acquisition and development 73 1 80 2 74 2 81 3 Commercial and industrial 1,236 6 1,337 1 1,125 6 1,192 1 Consumer 282 1 200 2 237 3 290 7 State and political subdivisions - - - - - - - - Total impaired loans $ 14,845 $ 98 $ 12,724 $ 101 $ 15,008 $ 189 $ 12,851 $ 205 |
Loan Modifications Related to COVID-19 [Table Text Block] | Deferrals Remaining (in thousands) As of June 30, 2020 COVID -19 related loan modifications: Number of Loans Recorded Investment Residential real estate 213 $ 20,338 Commercial real estate 160 108,100 Construction, land acquisition and development 16 16,340 Commercial and industrial 110 23,880 Consumer 406 7,920 State and political subdivisions - - Total 905 $ 176,578 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | June 30, December 31, (in thousands) 2020 2019 Demand (non-interest bearing) $ 266,846 $ 179,465 Interest-bearing: Interest-bearing demand 607,436 534,677 Savings 103,197 94,530 Time ($250,000 and over) 41,735 48,425 Other time 150,413 144,612 Total interest-bearing 902,781 822,244 Total deposits $ 1,169,627 $ 1,001,709 |
Note 6 - Borrowings (Tables)
Note 6 - Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, December 31, (in thousands) 2020 2019 Federal Reserve Discount Window advances $ 36,242 $ - FHLB of Pittsburgh advances: Overnight advances - 14,100 Term advances 42,809 32,809 Subtotal FHLB of Pittsburgh advances 42,809 46,909 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 89,361 $ 57,219 |
Note 7 - Derivative and Hedgi_2
Note 7 - Derivative and Hedging Transactions (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Derivative Assets Derivative Liabilities As of June 30, 2020 As of December 31, 2019 As of June 30, 2020 As of December 31, 2019 (in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate products $ - Other assets $ - Other assets $ - $ 30,000 Other liabilities $ 126 Other liabilities $ - Total derivatives designated as hedging instruments - - 126 - Cash and other collateral (1) - - - - Net derivative amounts $ $ - $ - $ $ 126 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended June 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ (99 ) $ (99 ) $ - Interest expense $ 33 $ 33 $ - Total $ (99 ) $ (99 ) $ - $ 33 $ 33 $ - Six Months Ended June 30, 2020 (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in OCI Included Component Amount of Gain or (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in cash flow hedging relationships Interest rate products $ (112 ) $ (112 ) $ - Interest expense $ 35 $ 35 $ - Total $ (112 ) $ (112 ) $ - $ 35 $ 35 $ - |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three Months Ended Six Months Ended June 30, 2020 June 30, 2020 (in thousands) Interest Expense Interest Expense Total amounts of income and expense line items presented in the cash flow statement of financial performance in which the effects of fair value or hedges are recorded $ 33 $ 35 The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 Interest contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income $ 33 $ 35 Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring $ - $ - Amount of gain or (loss) reclassified from accumulated OCI into income - included component $ 33 $ 35 Amount of gain or (loss) reclassified from accumulated OCI into income - excluded component $ - $ - |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 (dollars in thousands) Amount % Amount % Amount % Amount % Provision at statutory tax rates $ 1,013 21.00 % $ 643 21.00 % $ 1,541 21.00 % $ 1,313 21.00 % Add (deduct): Tax effects of tax free interest income (165 ) (3.42 )% (78 ) (2.55 )% (271 ) (3.69 )% (184 ) (2.94 )% Non-deductible interest expense 4 0.09 % 2 0.06 % 9 0.12 % 7 0.11 % Bank-owned life insurance (25 ) (0.52 )% (27 ) (0.88 )% (52 ) (0.71 )% (55 ) (0.88 )% Other items, net (22 ) (0.47 )% (26 ) (0.85 )% 30 0.41 % (12 ) (0.19 )% Income tax provision $ 805 16.68 % $ 514 16.78 % $ 1,257 17.13 % $ 1,069 17.10 % |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 82,818 $ 72,150 $ 77,896 $ 64,634 Additions, new loans and advances 13,143 12,004 30,696 29,093 Repayments (2,388 ) (5,402 ) (15,019 ) (14,975 ) Balance, end of period $ 93,573 $ 78,752 $ 93,573 $ 78,752 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Operating lease cost - bank branches $ 91 $ 86 $ 177 $ 171 Operating lease cost - automobiles and equipment 8 6 20 8 Short-term lease cost - office space 9 9 18 24 Short-term lease cost - automobiles and equipment - 2 - 5 Variable lease cost - - - - Total lease cost $ 108 $ 103 $ 215 $ 208 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) June 30, 2020 2020 $ 172 2021 361 2022 331 2023 323 2024 287 2025 and thereafter 2,813 Total lease payments 4,287 Less: imputed interest 956 Present value of operating lease liabilities $ 3,331 |
Lease, Other Information Related to Operating Leases [Table Text Block] | (dollars in thousands) June 30, 2020 Weighted-average remaining lease term 13.99 years Weighted-average discount rate 3.47 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 216 |
Note 11 - Stock Compensation _2
Note 11 - Stock Compensation Plans Subsequent Event (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Weighted- Weighted- Weighted- Weighted- Average Average Average Average Restricted Grant Date Restricted Grant Date Restricted Grant Date Restricted Grant Date (dollars in thousands) Shares Fair Value Shares Fair Value Shares Fair Value Shares Fair Value Unvested restricted stock awards: Total outstanding, beginning of period 201,415 $ 7.14 172,386 $ 7.55 128,150 $ 7.76 114,702 $ 7.50 Awards granted - - - - 75,924 6.07 57,684 7.64 Forfeitures - - (781 ) 7.68 (2,659 ) 6.24 (781 ) 7.68 Vestings (31,783 ) 7.69 (37,558 ) 6.80 (31,783 ) 7.69 (37,558 ) 6.80 Total outstanding, end of period 169,632 $ 7.04 134,047 $ 7.75 169,632 $ 7.04 134,047 $ 7.75 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio June 30, 2020 Total capital (to risk-weighted assets) $ 148,033 15.68 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 136,348 14.44 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 136,348 14.44 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 136,348 10.42 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 944,154 Total average assets 1,308,588 FNCB Bank Minimum Required For Capital Adequacy Purposes Minimum Required For Capital Adequacy Purposes with Conservation Buffer Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2019 Total capital (to risk-weighted assets) $ 133,406 14.77 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 123,753 13.70 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 123,753 13.70 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 123,753 10.36 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 903,172 Total average assets 1,194,789 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2020 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Financial assets: Available-for-sale debt securities: Obligations of state and political subdivisions $ 179,200 $ - $ 179,200 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 59,346 - 59,346 - Collateralized mortgage obligations - commercial 4,710 - 4,710 - Mortgage-backed securities 11,098 - 11,098 - Private collateralized mortgage obligations 28,485 - 28,485 - Corporate debt securities 15,687 - 3,974 11,713 Asset-backed securities 6,390 - 6,390 - Negotiable certificates of deposit 695 - 695 - Subtotal available-for-sale debt securities 305,611 - 293,898 11,713 Equity securities, at fair value 938 938 - - Total $ 306,549 $ 938 $ 293,898 $ 11,713 Financial liabilities: Derivative liabilities $ 126 $ - $ 126 $ - Total $ 126 $ - $ 126 $ - Fair Value Measurements at December 31, 2019 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (Level 1) (Level 2) (Level 3) Available-for-sale debt securities: Obligations of state and political subdivisions $ 117,763 $ - $ 117,763 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 80,294 - 80,294 - Collateralized mortgage obligations - commercial 17,723 - 17,723 - Mortgage-backed securities 18,485 - 18,485 - Private collateralized mortgage obligations 25,075 - 25,075 - Corporate debt securities 7,182 - 2,032 5,150 Asset-backed securities 5,621 - 5,621 - Negotiable certificates of deposit 696 - 696 - Subtotal available-for-sale debt securities 272,839 - 267,689 5,150 Equity securities, at fair value 920 920 - - Total $ 273,759 $ 920 $ 267,689 $ 5,150 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities For the Six Months Ended June 30, (in thousands) 2020 2019 Balance at January 1, $ 5,150 $ 3,929 Additions 8,800 1,000 Payments Received - - Sales - - Total gains or losses (realized/unrealized): Included in earnings - - Included in other comprehensive income (loss) (2,237 ) 152 Balance at June 30, $ 11,713 $ 5,081 |
Fair Value Measurements, Nonrecurring [Table Text Block] | June 30, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 5,484 $ 352 $ 5,132 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 8,799 161 8,638 Discounted cash flows Discount rate 3.00% 8.75% December 31, 2019 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 7,721 $ 376 $ 7,345 Appraisal of collateral Selling cost 10.0 % Impaired loans - other 8,065 97 7,968 Discounted cash flows Discount rate 3.99%-7.49% Other real estate owned 289 - 289 Appraisal of collateral Selling cost 10.0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value June 30, 2020 December 31, 2019 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and short term investments Level 1 $ 101,479 $ 101,479 $ 34,565 $ 34,565 Available-for-sale debt securities See previous table 305,611 305,611 272,839 272,839 Equity securities, at fair value Level 1 938 938 920 920 Restricted stock Level 2 3,309 3,309 3,804 3,804 Loans held for sale Level 2 765 765 1,061 1,061 Loans, net Level 3 937,404 937,890 819,529 810,074 Accrued interest receivable Level 2 5,201 5,201 3,234 3,234 Equity securities without readily determinable fair values Level 3 1,658 1,658 1,658 1,658 Servicing rights Level 3 303 557 356 790 Financial liabilities Deposits Level 2 1,169,627 1,171,369 1,001,709 1,001,829 Borrowed funds Level 2 89,361 89,764 57,219 57,234 Accrued interest payable Level 2 248 248 258 258 Derivative liabilities Level 2 126 126 - - |
Note 14 - Earnings Per Share (T
Note 14 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share data) 2020 2019 2020 2019 Net income $ 4,021 $ 2,549 $ 6,084 $ 5,184 Basic weighted-average number of common shares outstanding 20,191,527 20,129,150 20,182,012 19,428,717 Plus: Common share equivalents - 4,700 2,034 6,359 Diluted weighted-average number of common shares outstanding 20,191,527 20,133,850 20,184,046 19,435,076 Income per common share: Basic $ 0.20 $ 0.13 $ 0.30 $ 0.27 Diluted $ 0.20 $ 0.13 $ 0.30 $ 0.27 |
Note 15 - Other Comprehensive_2
Note 15 - Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 (in thousands) Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (922 ) Net gain on the sale of available-for-sale debt securities $ (1,071 ) Net gain on the sale of available-for-sale debt securities Taxes 193 Income taxes 225 Income taxes Net of tax amount $ (729 ) $ (846 ) For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 (in thousands) Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Amount Reclassifed from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (163) Net gain on the sale of available-for-sale debt securities $ (323) Net gain on the sale of available-for-sale debt securities Taxes 34 Income taxes 68 Income taxes Net of tax amount $ (129) $ (255) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Balance, beginning of period $ 6,351 $ (989 ) $ 3,056 $ (4,540 ) Other comprehensive income (loss) before reclassifications 5,157 4,431 8,569 8,108 Amount reclassified from accumulated other comprehensive income (loss) (729 ) (129 ) (846 ) (255 ) Net other comprehensive income (loss) during the period 4,428 4,302 7,723 7,853 Balance, end of period $ 10,779 $ 3,313 $ 10,779 $ 3,313 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation/Subsequent Event (Details Textual) $ in Thousands | 1 Months Ended | 6 Months Ended | |
Aug. 02, 2020USD ($) | Jun. 30, 2020USD ($) | Jul. 30, 2020USD ($) | |
Financing Receivable, Number of Payment Deferrals | 905 | ||
Financing Receivable, Deferred Payments | $ 176,578 | ||
Number of PPP Loans Approved | 920 | ||
Amount of PPP Loans Approved | $ 117,000 | ||
Subsequent Event [Member] | |||
Financing Receivable, Number of Payment Deferrals | 128 | ||
Financing Receivable, Deferred Payments | $ 17,100 | ||
Subsequent Event [Member] | Loans Supported By Federal Reserve Bank [Member] | |||
Financing Receivable, Main Street Priority Loan Facility, Loans Originated | $ 53,000 | ||
Financing Receivable, before Allowance for Credit Loss, Total | $ 2,700 | ||
Non-interest Expense [Member] | |||
COVID-19 Related Expenses | $ 183 |
Note 3 - Securities Subsequen_3
Note 3 - Securities Subsequent Event (Details Textual) $ / shares in Units, $ in Thousands | Jul. 01, 2020USD ($)$ / sharesshares | Jun. 30, 2020USD ($)shares | Dec. 31, 2017USD ($)$ / shares | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2019 |
Number of Non-government Securities of Any Individual Issuer Exceeding 10 Percent of Shareholders' Equity | 0 | 0 | ||||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 254,300 | $ 235,000 | ||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 21 | 21 | ||||
Other than Temporary Impairment Losses, Investments, Total | $ 0 | |||||
Equity Securities, FV-NI | 938 | $ 920 | ||||
Share Price (in dollars per share) | $ / shares | $ 8.25 | |||||
Merger Agreement [Member] | Subsequent Event [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Per Share (in shares) | shares | 0.6212 | |||||
Business Acquisition, Share Price (in dollars per share) | $ / shares | $ 16.50 | |||||
Business Combination, Consideration Transferred, Cash, Percent | 25.00% | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Percent | 75.00% | |||||
Other Assets [Member] | ||||||
Equity Securities without Readily Determinable Fair Value, Amount | 1,700 | 1,700 | ||||
Federal Home Loan Bank of Pittsburgh [Member] | ||||||
Impairment on Federal Home Loan Bank Stock | 0 | 0 | ||||
Mutual Fund [Member] | ||||||
Equity Securities, FV-NI, Cost | $ 1,000 | |||||
Equity Securities, FV-NI, Accumulated Unrealized Loss | 62 | 80 | ||||
Equity Securities, FV-NI | $ 938 | $ 920 | ||||
Corporate Debt Securities [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 7 | 0 | ||||
Asset-backed Securities [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 5 | 2 | ||||
Collateralized Mortgage Obligations [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | |||||
US States and Political Subdivisions Debt Securities [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 3 | 10 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 2 | |||||
Equity Security Without Readily Determinable Fair Value [Member] | ||||||
Equity Securities without Readily Determinable Fair Value, Shares (in shares) | shares | 201,000 | |||||
Payments to Acquire Other Investments | $ 1,700 | |||||
Equity Security Without Readily Determinable Fair Value [Member] | Subsequent Event [Member] | ||||||
Equity Securities Without Readily Determinable Fair Value, Shares Received Due to Investee Merger (in shares) | shares | 78,822 | |||||
Equity Securities Without Readily Determinable Fair Value, Cash Received Due to Investee Merger | $ 1,200 |
Note 3 - Securities Subsequen_4
Note 3 - Securities Subsequent Event - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities, amortized cost | $ 291,819 | $ 268,971 |
Available-for-sale debt securities, gross unrealized holding gains | 14,388 | 4,374 |
Available-for-sale debt securities, gross unrealized holding losses | 596 | 506 |
Available-for-sale debt securities, at fair value | 305,611 | 272,839 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 169,805 | 115,428 |
Available-for-sale debt securities, gross unrealized holding gains | 9,438 | 2,694 |
Available-for-sale debt securities, gross unrealized holding losses | 43 | 359 |
Available-for-sale debt securities, at fair value | 179,200 | 117,763 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 55,331 | 79,606 |
Available-for-sale debt securities, gross unrealized holding gains | 4,021 | 780 |
Available-for-sale debt securities, gross unrealized holding losses | 6 | 92 |
Available-for-sale debt securities, at fair value | 59,346 | 80,294 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 4,520 | 17,414 |
Available-for-sale debt securities, gross unrealized holding gains | 193 | 320 |
Available-for-sale debt securities, gross unrealized holding losses | 3 | 11 |
Available-for-sale debt securities, at fair value | 4,710 | 17,723 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 10,546 | 18,142 |
Available-for-sale debt securities, gross unrealized holding gains | 552 | 343 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 0 |
Available-for-sale debt securities, at fair value | 11,098 | 18,485 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, amortized cost | 28,520 | 25,069 |
Available-for-sale debt securities, gross unrealized holding gains | 137 | 49 |
Available-for-sale debt securities, gross unrealized holding losses | 172 | 43 |
Available-for-sale debt securities, at fair value | 28,485 | 25,075 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 15,800 | 7,000 |
Available-for-sale debt securities, gross unrealized holding gains | 43 | 182 |
Available-for-sale debt securities, gross unrealized holding losses | 156 | 0 |
Available-for-sale debt securities, at fair value | 15,687 | 7,182 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 6,603 | 5,618 |
Available-for-sale debt securities, gross unrealized holding gains | 3 | 4 |
Available-for-sale debt securities, gross unrealized holding losses | 216 | 1 |
Available-for-sale debt securities, at fair value | 6,390 | 5,621 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, amortized cost | 694 | 694 |
Available-for-sale debt securities, gross unrealized holding gains | 1 | 2 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 0 |
Available-for-sale debt securities, at fair value | $ 695 | $ 696 |
Note 3 - Securities Subsequen_5
Note 3 - Securities Subsequent Event - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
One year or less, amortized cost | $ 1,194 | |
One year or less, fair value | 1,196 | |
After one year through five years, amortized cost | 52,863 | |
After one year through five years, fair value | 55,853 | |
After five years through ten years, amortized cost | 45,271 | |
After five years through ten years, fair value | 47,079 | |
After ten years, amortized cost | 86,971 | |
After ten years, fair value | 91,454 | |
Available-for-sale debt securities, amortized cost | 291,819 | $ 268,971 |
Available-for-sale debt securities, at fair value | 305,611 | 272,839 |
Asset-backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 6,603 | |
Securities without a single maturity, fair value | 6,390 | |
Available-for-sale debt securities, amortized cost | 6,603 | 5,618 |
Available-for-sale debt securities, at fair value | 6,390 | 5,621 |
Collateralized Mortgage Obligations [Member] | ||
Securities without a single maturity, amortized cost | 88,371 | |
Securities without a single maturity, fair value | 92,541 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 10,546 | |
Securities without a single maturity, fair value | 11,098 | |
Available-for-sale debt securities, amortized cost | 10,546 | 18,142 |
Available-for-sale debt securities, at fair value | $ 11,098 | $ 18,485 |
Note 3 - Securities Subsequen_6
Note 3 - Securities Subsequent Event - Gross Proceeds Received and Realized Gain (Loss) on Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Gross proceeds received on sales | $ 43,913 | $ 36,142 | $ 51,888 | $ 61,272 |
Gross realized gains | 1,027 | 173 | 1,176 | 349 |
Gross realized losses | (105) | (10) | (105) | (26) |
Net gains recognized on equity securities | 4 | 14 | 18 | 26 |
Less: net gains (losses) recognized on equity securities sold | 0 | 0 | 0 | 0 |
Unrealized gains on equity securities held | $ 4 | $ 14 | $ 18 | $ 26 |
Note 3 - Securities Subsequen_7
Note 3 - Securities Subsequent Event - Available-for-sale Debt Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Less than 12 months, number of securities | 21 | 21 |
Less than 12 months, fair value | $ 38,985 | $ 61,748 |
Less than 12 months, gross unrealized losses | $ 596 | $ 506 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 21 | 21 |
Total, fair value | $ 38,985 | $ 61,748 |
Total, gross unrealized losses | $ 596 | $ 506 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, number of securities | 3 | 10 |
Less than 12 months, fair value | $ 3,832 | $ 19,436 |
Less than 12 months, gross unrealized losses | $ 43 | $ 359 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 3 | 10 |
Total, fair value | $ 3,832 | $ 19,436 |
Total, gross unrealized losses | $ 43 | $ 359 |
Residential Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 1 | 4 |
Less than 12 months, fair value | $ 4,034 | $ 19,934 |
Less than 12 months, gross unrealized losses | $ 6 | $ 92 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 1 | 4 |
Total, fair value | $ 4,034 | $ 19,934 |
Total, gross unrealized losses | $ 6 | $ 92 |
Commercial Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 1 | 1 |
Less than 12 months, fair value | $ 2,504 | $ 2,500 |
Less than 12 months, gross unrealized losses | $ 3 | $ 11 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 1 | 1 |
Total, fair value | $ 2,504 | $ 2,500 |
Total, gross unrealized losses | $ 3 | $ 11 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Less than 12 months, number of securities | 4 | 4 |
Less than 12 months, fair value | $ 11,090 | $ 18,990 |
Less than 12 months, gross unrealized losses | $ 172 | $ 43 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 4 | 4 |
Total, fair value | $ 11,090 | $ 18,990 |
Total, gross unrealized losses | $ 172 | $ 43 |
Corporate Debt Securities [Member] | ||
Less than 12 months, number of securities | 7 | 0 |
Less than 12 months, fair value | $ 11,644 | $ 0 |
Less than 12 months, gross unrealized losses | $ 156 | $ 0 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 7 | 0 |
Total, fair value | $ 11,644 | $ 0 |
Total, gross unrealized losses | $ 156 | $ 0 |
Asset-backed Securities [Member] | ||
Less than 12 months, number of securities | 5 | 2 |
Less than 12 months, fair value | $ 5,881 | $ 888 |
Less than 12 months, gross unrealized losses | $ 216 | $ 1 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 5 | 2 |
Total, fair value | $ 5,881 | $ 888 |
Total, gross unrealized losses | $ 216 | $ 1 |
Negotiable Certificates of Deposit [Member] | ||
Less than 12 months, number of securities | 0 | 0 |
Less than 12 months, fair value | $ 0 | $ 0 |
Less than 12 months, gross unrealized losses | $ 0 | $ 0 |
12 months or longer, number of securities | 0 | 0 |
12 months or longer, fair value | $ 0 | $ 0 |
12 months or longer, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | 0 | 0 |
Total, fair value | $ 0 | $ 0 |
Total, gross unrealized losses | $ 0 | $ 0 |
Note 3 - Securities Subsequen_8
Note 3 - Securities Subsequent Event - Restricted Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Stock in Atlantic Community Banker's Bank | $ 10 | $ 10 |
Restricted stock, at cost | 3,309 | 3,804 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Stock in Federal Home Loan Bank of Pittsburgh | $ 3,299 | $ 3,794 |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jul. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 950,902 | $ 950,902 | $ 826,356 | |||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | (2,351) | (2,351) | 2,192 | |||
Loans and Leases Receivable, Allowance, Ending Balance | 11,024 | 11,024 | 8,950 | |||
Gain (Loss) on Sales of Loans, Net, Total | 183 | $ 73 | 279 | $ 129 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 765 | $ 765 | 1,061 | |||
Loans Still Classified as Non-accrual Status, Period of Past Due (Day) | 90 days | |||||
Financing Receivable, Nonaccrual | 6,700 | $ 6,700 | 9,100 | |||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 0 | 0 | |||
Evaluated Individually for Impairment, Non-accrued Loans Other Than TDRs, Threshold | 100 | 100 | 100 | |||
Financing Receivable, Collectively Evaluated for Impairment | 936,619 | 936,619 | 810,570 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 94 | 95 | 205 | 177 | ||
Financing Receivable, Troubled Debt Restructuring | 9,100 | 9,100 | 9,100 | |||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | ||||
Financing Receivable, Number of Payment Deferrals | 905 | 905 | ||||
Financing Receivable, Deferred Payments | $ 176,578 | $ 176,578 | ||||
Real Estate Investment Property, Foreclosed | $ 0 | $ 0 | ||||
Number of Real Estate Properties in OREO | 0 | 0 | ||||
Subsequent Event [Member] | ||||||
Financing Receivable, Number of Payment Deferrals | 128 | |||||
Financing Receivable, Deferred Payments | $ 17,100 | |||||
Financing Receivable, Number of Expired Payment Deferrals | 777 | |||||
Financing Receivable, Deferred Payments, Expired | $ 159,500 | |||||
Troubled Debt Restructuring [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 158 | $ 158 | 97 | |||
Nonaccrual Loans [Member] | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 1,000 | 1,000 | 1,000 | |||
Performing Financial Instruments [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 8,600 | 8,600 | 7,700 | |||
Nonperforming Financial Instruments [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 500 | 500 | 1,400 | |||
Special Mention [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 8,400 | 8,400 | 2,300 | |||
Loans and Leases Receivable, Period Increase (Decrease) | 6,100 | |||||
Substandard [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 10,500 | 10,500 | 12,400 | |||
Loans and Leases Receivable, Period Increase (Decrease) | (1,900) | |||||
One- to Four-family Mortgages [Member] | ||||||
Recorded Investment of Mortgage Loans Sold | 3,000 | 2,300 | 5,900 | 4,200 | ||
Gain (Loss) on Sales of Loans, Net, Total | 183 | 73 | 279 | 129 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | 765,000 | 765,000 | 1,100 | |||
Small Business Administration [Member] | ||||||
Loans Sold During Period, Principal Balance | 0 | $ 0 | 0 | $ 0 | ||
Loans Serviced for Others, Unpaid Principal Balance | 104,500 | 104,500 | 106,000 | |||
Commercial and Industrial [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 280,270 | 280,270 | 147,623 | |||
Financing Receivable, Collectively Evaluated for Impairment | $ 279,220 | $ 279,220 | 146,459 | |||
Financing Receivable, Modifications, Number of Contracts | 3 | 3 | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 196 | $ 196 | ||||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 196 | $ 196 | ||||
Financing Receivable, Number of Payment Deferrals | 110 | 110 | ||||
Financing Receivable, Deferred Payments | $ 23,880 | $ 23,880 | ||||
Commercial and Industrial [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 117,000 | 117,000 | ||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | 3,800 | 3,800 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 281,950 | $ 281,950 | 278,379 | |||
Rating Classification Changes, Number of Loans | 3 | |||||
Number of Loans Downgraded to Special Mention | 1 | |||||
Loans Downgraded to Special Mention, Recorded Investment | $ 5,100 | $ 5,100 | ||||
Financing Receivable, Number of Payment Deferrals | 160 | 160 | ||||
Financing Receivable, Deferred Payments | $ 108,100 | $ 108,100 | ||||
Commercial and Industrial, Commercial Real Estate, and Residential Real Estate [Member] | ||||||
Number of Loans Upgraded from Substandard to Special Mention | 2 | |||||
Loans Upgraded from Substandard to Special Mention, Recorded Investment | 1,400 | $ 1,400 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | $ 170,517 | $ 170,517 | 170,723 | |||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | 1 | 1 | ||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 88 | $ 24 | $ 88 | $ 24 | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 88 | $ 24 | $ 88 | $ 24 | ||
Financing Receivable, Number of Payment Deferrals | 213 | 213 | ||||
Financing Receivable, Deferred Payments | $ 20,338 | $ 20,338 | ||||
Residential Portfolio Segment [Member] | Investor-owned Real Estate Loan [Member] | ||||||
Number of Real Estate Properties, Foreclosed | 1 | 1 | ||||
Real Estate Investment Property, Foreclosed | $ 52 | $ 52 | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 120,578 | 120,578 | 138,239 | |||
Financing Receivable, Collectively Evaluated for Impairment | $ 120,298 | $ 120,298 | $ 138,044 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 1 | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 103 | $ 103 | ||||
Financing Receivable, Number of Payment Deferrals | 406 | 406 | ||||
Financing Receivable, Deferred Payments | $ 7,920 | $ 7,920 | ||||
Number of Real Estate Properties, Foreclosed | 2 | |||||
Real Estate Investment Property, Foreclosed | $ 0 |
Note 4 - Loans - Loans Receivab
Note 4 - Loans - Loans Receivable, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans, gross | $ 950,902 | $ 826,356 |
Unearned income | (123) | (69) |
Net deferred loan (fees) costs | (2,351) | 2,192 |
Allowance for loan and lease losses | (11,024) | (8,950) |
Loans, net | 937,404 | 819,529 |
Residential Portfolio Segment [Member] | ||
Loans, gross | 170,517 | 170,723 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, gross | 281,950 | 278,379 |
Construction, Land Acquisition and Development [Member] | ||
Loans, gross | 51,144 | 47,484 |
Commercial and Industrial [Member] | ||
Loans, gross | 280,270 | 147,623 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 120,578 | 138,239 |
State and Political Subdivisions [Member] | ||
Loans, gross | $ 46,443 | $ 43,908 |
Note 4 - Loans - Activity in th
Note 4 - Loans - Activity in the Allowance for Loan Losses, by Loan Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | |
Balance | $ 9,907 | $ 9,253 | $ 8,950 | $ 9,519 | ||
Charge-offs | (316) | (1,123) | (645) | (1,577) | ||
Recoveries | 602 | 468 | 737 | 810 | ||
Provision for loan and lease losses | 831 | 347 | 1,982 | 193 | ||
Balance | 11,024 | 8,945 | 11,024 | 8,945 | ||
Individually evaluated for impairment | $ 513 | $ 473 | ||||
Collectively evaluated for impairment | 10,511 | 8,477 | ||||
Total | 11,024 | 8,945 | 8,950 | 9,519 | 11,024 | 8,950 |
Individually evaluated for impairment | 14,283 | 15,786 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 936,619 | 810,570 | ||||
Total | 950,902 | 826,356 | ||||
Residential Portfolio Segment [Member] | ||||||
Total | 170,517 | 170,723 | ||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Balance | 1,307 | 1,155 | 1,147 | 1,175 | ||
Charge-offs | 0 | (27) | 0 | (27) | ||
Recoveries | 37 | 2 | 39 | 6 | ||
Provision for loan and lease losses | 7 | 22 | 165 | (2) | ||
Balance | 1,351 | 1,152 | 1,351 | 1,152 | ||
Individually evaluated for impairment | 8 | 9 | ||||
Collectively evaluated for impairment | 1,343 | 1,138 | ||||
Total | 1,351 | 1,152 | 1,147 | 1,175 | 1,351 | 1,147 |
Individually evaluated for impairment | 2,234 | 2,711 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 168,283 | 168,012 | ||||
Total | 170,517 | 170,723 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Total | 281,950 | 278,379 | ||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Balance | 3,557 | 3,051 | 3,198 | 3,107 | ||
Charge-offs | 0 | 0 | (56) | 0 | ||
Recoveries | 1 | 14 | 1 | 14 | ||
Provision for loan and lease losses | 384 | 364 | 799 | 308 | ||
Balance | 3,942 | 3,429 | 3,942 | 3,429 | ||
Individually evaluated for impairment | 267 | 221 | ||||
Collectively evaluated for impairment | 3,675 | 2,977 | ||||
Total | 3,942 | 3,429 | 3,198 | 3,107 | 3,942 | 3,198 |
Individually evaluated for impairment | 10,647 | 11,640 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 271,303 | 266,739 | ||||
Total | 281,950 | 278,379 | ||||
Construction, Land Acquisition and Development [Member] | ||||||
Total | 51,144 | 47,484 | ||||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||||
Balance | 283 | 106 | 271 | 188 | ||
Charge-offs | 0 | (18) | 0 | (18) | ||
Recoveries | 0 | 0 | 0 | 81 | ||
Provision for loan and lease losses | 77 | 90 | 89 | (73) | ||
Balance | 360 | 178 | 360 | 178 | ||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 360 | 271 | ||||
Total | 360 | 178 | 271 | 188 | 360 | 271 |
Individually evaluated for impairment | 72 | 76 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 51,072 | 47,408 | ||||
Total | 51,144 | 47,484 | ||||
Commercial and Industrial [Member] | ||||||
Balance | 2,304 | 2,499 | 1,997 | 2,552 | ||
Charge-offs | (92) | (621) | (127) | (760) | ||
Recoveries | 425 | 123 | 484 | 207 | ||
Provision for loan and lease losses | (294) | 70 | (11) | 72 | ||
Balance | 2,343 | 2,071 | 2,343 | 2,071 | ||
Individually evaluated for impairment | 237 | 242 | ||||
Collectively evaluated for impairment | 2,106 | 1,755 | ||||
Total | 2,343 | 2,071 | 1,997 | 2,552 | 2,343 | 1,997 |
Individually evaluated for impairment | 1,050 | 1,164 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 279,220 | 146,459 | ||||
Total | 280,270 | 147,623 | ||||
Consumer Portfolio Segment [Member] | ||||||
Balance | 1,714 | 1,963 | 1,658 | 2,051 | ||
Charge-offs | (224) | (457) | (462) | (772) | ||
Recoveries | 139 | 329 | 213 | 502 | ||
Provision for loan and lease losses | 60 | 4 | 280 | 58 | ||
Balance | 1,689 | 1,839 | 1,689 | 1,839 | ||
Individually evaluated for impairment | 1 | 1 | ||||
Collectively evaluated for impairment | 1,688 | 1,657 | ||||
Total | 1,689 | 1,839 | 1,658 | 2,051 | 1,689 | 1,658 |
Individually evaluated for impairment | 280 | 195 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 120,298 | 138,044 | ||||
Total | 120,578 | 138,239 | ||||
State and Political Subdivisions [Member] | ||||||
Balance | 270 | 423 | 253 | 417 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision for loan and lease losses | 67 | (212) | 84 | (206) | ||
Balance | 337 | 211 | 337 | 211 | ||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 337 | 253 | ||||
Total | 337 | 211 | 253 | 417 | 337 | 253 |
Individually evaluated for impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 46,443 | 43,908 | ||||
Total | 46,443 | 43,908 | ||||
Unallocated Financing Receivables [Member] | ||||||
Balance | 472 | 56 | 426 | 29 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision for loan and lease losses | 530 | 9 | 576 | 36 | ||
Balance | 1,002 | 65 | 1,002 | 65 | ||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 1,002 | 426 | ||||
Total | $ 1,002 | $ 65 | $ 426 | $ 29 | 1,002 | 426 |
Individually evaluated for impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | ||||
Total | $ 0 | $ 0 |
Note 4 - Loans - Loans by Credi
Note 4 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans | $ 950,902 | $ 826,356 |
Commercial Loans [Member] | ||
Loans | 687,493 | 546,961 |
Accruing Loans [Member] | ||
Loans | 261,818 | 277,413 |
Nonaccrual Loans [Member] | ||
Loans | 1,591 | 1,982 |
Subtotal, Other Loans [Member] | ||
Loans | 263,409 | 279,395 |
Pass [Member] | Commercial Loans [Member] | ||
Loans | 668,586 | 532,300 |
Special Mention [Member] | ||
Loans | 8,400 | 2,300 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 8,423 | 2,271 |
Substandard [Member] | ||
Loans | 10,500 | 12,400 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans | 10,484 | 12,390 |
Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans | 170,517 | 170,723 |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 30,019 | 32,703 |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 139,646 | 136,709 |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 852 | 1,311 |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 140,498 | 138,020 |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 29,511 | 32,219 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 256 | 177 |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 252 | 307 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 281,950 | 278,379 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 281,950 | 278,379 |
Commercial Real Estate Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 265,355 | 266,112 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 7,568 | 1,668 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 9,027 | 10,599 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | ||
Loans | 51,144 | 47,484 |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | ||
Loans | 49,326 | 46,361 |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | ||
Loans | 1,818 | 1,123 |
Construction, Land Acquisition and Development [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Subtotal, Other Loans [Member] | ||
Loans | 1,818 | 1,123 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 49,326 | 46,361 |
Construction, Land Acquisition and Development [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | ||
Loans | 280,270 | 147,623 |
Commercial and Industrial [Member] | Commercial Loans [Member] | ||
Loans | 276,141 | 142,499 |
Commercial and Industrial [Member] | Accruing Loans [Member] | ||
Loans | 4,129 | 5,124 |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | ||
Loans | 4,129 | 5,124 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 274,337 | 140,589 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 599 | 426 |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 1,205 | 1,484 |
Commercial and Industrial [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 120,578 | 138,239 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 3,627 | 3,111 |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 116,212 | 134,457 |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 739 | 671 |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 116,951 | 135,128 |
Consumer Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 3,627 | 3,111 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | ||
Loans | 46,443 | 43,908 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | ||
Loans | 46,430 | 43,908 |
State and Political Subdivisions [Member] | Accruing Loans [Member] | ||
Loans | 13 | 0 |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | ||
Loans | 13 | 0 |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 46,430 | 43,908 |
State and Political Subdivisions [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Doubtful [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Loans [Member] | ||
Loans | $ 0 | $ 0 |
Note 4 - Loans - Performing and
Note 4 - Loans - Performing and Non-performing Loan Delinquency Status (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans past due | $ 950,902 | $ 826,356 |
Performing Financial Instruments [Member] | ||
Loans past due | 944,162 | 817,272 |
Nonperforming Financial Instruments [Member] | ||
Loans past due | 6,740 | 9,084 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 169,453 | 169,149 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,064 | 1,574 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 277,793 | 272,742 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 51,144 | 47,484 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 279,490 | 146,421 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 780 | 1,202 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 119,839 | 137,568 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 739 | 671 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 46,443 | 43,908 |
State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 4,157 | 5,637 |
Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans past due | 945,468 | 818,841 |
Financial Asset, 1 to 29 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 942,392 | 814,312 |
Financial Asset, 1 to 29 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 3,076 | 4,529 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 169,374 | 168,754 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 510 | 873 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 277,561 | 272,561 |
Financial Asset, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 51,144 | 47,484 |
Financial Asset, 1 to 29 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 279,351 | 146,221 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 682 | 943 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 118,519 | 135,384 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 295 | 193 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 46,443 | 43,908 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,589 | 2,520 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 1,677 | 3,107 |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 1,523 | 2,104 |
Financial Asset, 30 to 59 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 154 | 1,003 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 79 | 134 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 21 | 17 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 232 | 75 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 139 | 200 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 1,073 | 1,695 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 133 | 93 |
Financial Asset, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 893 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 363 | 1,670 |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 247 | 856 |
Financial Asset, 60 to 89 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 116 | 814 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 261 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 228 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 106 |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 114 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 247 | 489 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 116 | 38 |
Financial Asset, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 434 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 3,394 | 2,738 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 3,394 | 2,738 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 533 | 456 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 98 | 145 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 195 | 347 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | State and Political Subdivisions [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | $ 2,568 | $ 1,790 |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Recorded investment, with no allowance recorded | $ 4,565 | $ 6,457 |
Unpaid principal balance, with no allowance recorded | 6,162 | 8,262 |
Recorded investment, with a related allowance recorded | 9,717 | 9,329 |
Unpaid principal balance, with a related allowance recorded | 10,672 | 10,050 |
Related Allowance | 513 | 473 |
Recorded Investment | 14,283 | 15,786 |
Unpaid principal balance | 16,834 | 18,312 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 815 | 1,217 |
Unpaid principal balance, with no allowance recorded | 893 | 1,303 |
Recorded investment, with a related allowance recorded | 1,419 | 1,494 |
Unpaid principal balance, with a related allowance recorded | 1,419 | 1,494 |
Related Allowance | 8 | 9 |
Recorded Investment | 2,234 | 2,711 |
Unpaid principal balance | 2,312 | 2,797 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 3,388 | 4,548 |
Unpaid principal balance, with no allowance recorded | 4,902 | 6,007 |
Recorded investment, with a related allowance recorded | 7,259 | 7,092 |
Unpaid principal balance, with a related allowance recorded | 7,978 | 7,811 |
Related Allowance | 267 | 221 |
Recorded Investment | 10,647 | 11,640 |
Unpaid principal balance | 12,880 | 13,818 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 72 | 76 |
Unpaid principal balance, with no allowance recorded | 72 | 76 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related Allowance | 0 | 0 |
Recorded Investment | 72 | 76 |
Unpaid principal balance | 72 | 76 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 179 | 593 |
Unpaid principal balance, with no allowance recorded | 179 | 850 |
Recorded investment, with a related allowance recorded | 871 | 571 |
Unpaid principal balance, with a related allowance recorded | 1,107 | 573 |
Related Allowance | 237 | 242 |
Recorded Investment | 1,050 | 1,164 |
Unpaid principal balance | 1,286 | 1,423 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance recorded | 112 | 23 |
Unpaid principal balance, with no allowance recorded | 116 | 26 |
Recorded investment, with a related allowance recorded | 168 | 172 |
Unpaid principal balance, with a related allowance recorded | 168 | 172 |
Related Allowance | 1 | 1 |
Recorded Investment | 280 | 195 |
Unpaid principal balance | 284 | 198 |
State and Political Subdivisions [Member] | ||
Recorded investment, with no allowance recorded | 0 | 0 |
Unpaid principal balance, with no allowance recorded | 0 | 0 |
Recorded investment, with a related allowance recorded | 0 | 0 |
Unpaid principal balance, with a related allowance recorded | 0 | 0 |
Related Allowance | 0 | 0 |
Recorded Investment | 0 | 0 |
Unpaid principal balance | $ 0 | $ 0 |
Note 4 - Loans - Average Balanc
Note 4 - Loans - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Average balance | $ 14,845 | $ 12,724 | $ 15,008 | $ 12,851 | |
Interest income | [1] | 98 | 101 | 189 | 205 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 2,274 | 1,878 | 2,422 | 1,858 | |
Interest income | [1] | 20 | 20 | 40 | 41 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Average balance | 10,980 | 9,229 | 11,150 | 9,430 | |
Interest income | [1] | 70 | 76 | 138 | 153 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Average balance | 73 | 80 | 74 | 81 | |
Interest income | [1] | 1 | 2 | 2 | 3 |
Commercial and Industrial [Member] | |||||
Average balance | 1,236 | 1,337 | 1,125 | 1,192 | |
Interest income | [1] | 6 | 1 | 6 | 1 |
Consumer Portfolio Segment [Member] | |||||
Average balance | 282 | 200 | 237 | 290 | |
Interest income | [1] | 1 | 2 | 3 | 7 |
State and Political Subdivisions [Member] | |||||
Average balance | 0 | 0 | 0 | 0 | |
Interest income | [1] | $ 0 | $ 0 | $ 0 | $ 0 |
[1] | Interest income represents income recognized on performing TDRs. |
Note 4 - Loans - Loan Modificat
Note 4 - Loans - Loan Modifications Related to COVID-19 (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Deferrals Remaining, Number of Loans | 905 |
Deferrals Remaining, Recorded Investment | $ 176,578 |
Residential Portfolio Segment [Member] | |
Deferrals Remaining, Number of Loans | 213 |
Deferrals Remaining, Recorded Investment | $ 20,338 |
Commercial Real Estate Portfolio Segment [Member] | |
Deferrals Remaining, Number of Loans | 160 |
Deferrals Remaining, Recorded Investment | $ 108,100 |
Construction, Land Acquisition and Development [Member] | |
Deferrals Remaining, Number of Loans | 16 |
Deferrals Remaining, Recorded Investment | $ 16,340 |
Commercial and Industrial [Member] | |
Deferrals Remaining, Number of Loans | 110 |
Deferrals Remaining, Recorded Investment | $ 23,880 |
Consumer Portfolio Segment [Member] | |
Deferrals Remaining, Number of Loans | 406 |
Deferrals Remaining, Recorded Investment | $ 7,920 |
State and Political Subdivisions [Member] | |
Deferrals Remaining, Number of Loans | 0 |
Deferrals Remaining, Recorded Investment | $ 0 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Deposits, Total | $ 1,169,627 | $ 1,001,709 |
Noninterest-bearing Deposit Liabilities, Total | 266,846 | 179,465 |
Increase (Decrease) in Non-interest-bearing Demand Deposits | 87,300 | |
Interest-bearing Deposit Liabilities, Total | 902,781 | $ 822,244 |
Increase (Decrease) in Interest-bearing Deposits | $ 80,600 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Demand (non-interest-bearing) | $ 266,846 | $ 179,465 |
Interest-bearing demand | 607,436 | 534,677 |
Savings | 103,197 | 94,530 |
Time ($250,000 and over) | 41,735 | 48,425 |
Other time | 150,413 | 144,612 |
Total interest-bearing | 902,781 | 822,244 |
Total deposits | $ 1,169,627 | $ 1,001,709 |
Note 6 - Borrowings (Details Te
Note 6 - Borrowings (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Advances from Federal Home Loan Banks, Total | $ 42,809 | $ 46,909 |
Advances From Federal Discount Window | 36,242 | 0 |
Long-term Debt, Total | 89,361 | 57,219 |
Federal Reserve Bank Advances [Member] | ||
Loans Pledged as Collateral | 33,500 | |
Short-term Debt, Total | 36,242 | 0 |
Line of Credit Facility, Maximum Borrowing Capacity | 14,400 | |
Borrower-in-custody Program [Member] | Federal Reserve Bank Advances [Member] | ||
Short-term Debt, Total | 0 | 0 |
Paycheck Protection Program Liquidity Facility [Member] | ||
Advances From Federal Discount Window | $ 36,200 | |
Debt Instrument, Interest Rate, Stated Percentage | 0.35% | |
Long-term Debt, Total | $ 117,000 | |
Federal Reserve Bank Borrowing, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 36,200 | |
Federal Reserve Bank Borrowing, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 80,800 | |
Federal Home Loan Bank Advances [Member] | Minimum [Member] | ||
Debt Instrument, Term (Month) | 3 months | |
Federal Home Loan Bank Advances [Member] | Maximum [Member] | ||
Debt Instrument, Term (Month) | 2 years | |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 485,700 | $ 475,300 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 341,500 | |
Advances from Federal Home Loan Banks, Total | 42,800 | |
Letters of Credit Outstanding, Amount | 32,000 | |
Federal Home Loan Bank of Pittsburgh [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Advances from Federal Home Loan Banks, Total | $ 0 |
Note 6 - Borrowings - Component
Note 6 - Borrowings - Components of Borrowed Funds (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Long-term Debt, Total | $ 89,361 | $ 57,219 |
Total borrowed funds | 89,361 | 57,219 |
Junior Subordinated Debt [Member] | ||
Long-term Debt, Total | 10,310 | 10,310 |
Federal Reserve Bank Advances [Member] | ||
Short-term Debt, Total | 36,242 | 0 |
Federal Home Loan Bank Advances [Member] | ||
Short-term Debt, Total | 42,809 | 46,909 |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Short-term Debt, Total | 0 | 14,100 |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Term [Member] | ||
Short-term Debt, Total | $ 42,809 | $ 32,809 |
Note 7 - Derivative and Hedgi_3
Note 7 - Derivative and Hedging Transactions (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2020 | |
Derivative Liability, Total | $ 126 | |
Termination Fee Related to Derivative Agreement | $ 126 | |
Interest Rate Swap [Member] | Interest Expense [Member] | Forecast [Member] | ||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 4 |
Note 7 - Derivative and Hedgi_4
Note 7 - Derivative and Hedging Transactions - Fair Values of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | |
Derivative assets, Cash and other collateral | [1] | $ 0 | $ 0 |
Derivative liabilities, Cash and other collateral | [1] | 0 | 0 |
Net derivative asset amounts | 0 | 0 | |
Net derivative liability amounts | 126 | 0 | |
Designated as Hedging Instrument [Member] | |||
Derivative assets | 0 | 0 | |
Derivative liabilities | 126 | 0 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative assets | 0 | 0 | |
Interest rate products | 30,000 | ||
Derivative liabilities | $ 126 | $ 0 | |
[1] | Netting adjustments represents the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. |
Note 7 - Derivative and Hedgi_5
Note 7 - Derivative and Hedging Transactions - Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2020 | Jun. 30, 2020 | |
Amount of Gain or (Loss) Recognized in OCI on Derivative | $ (99) | $ (112) |
Amount of Gain or (Loss) Recognized in OCI Included Component | (99) | (112) |
Amount of Gain or (Loss) Recognized in OCI Excluded Component | 0 | 0 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | 33 | 35 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component | 33 | 35 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | 0 | 0 |
Interest Rate Swap [Member] | Interest Expense [Member] | ||
Amount of Gain or (Loss) Recognized in OCI on Derivative | (99) | (112) |
Amount of Gain or (Loss) Recognized in OCI Included Component | (99) | (112) |
Amount of Gain or (Loss) Recognized in OCI Excluded Component | 0 | 0 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | 33 | 35 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component | 33 | 35 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | $ 0 | $ 0 |
Note 7 - Derivative and Hedgi_6
Note 7 - Derivative and Hedging Transactions - Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2020 | Jun. 30, 2020 | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | $ (33) | $ (35) |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | 0 | 0 |
Interest Rate Contract [Member] | Interest Expense [Member] | ||
Total amounts of income and expense line items presented in the cash flow statement of financial performance in which the effects of fair value or hedges are recorded | 33 | 35 |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | 33 | 35 |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into income - included component | 33 | 35 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | $ 0 | $ 0 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 21.00% | |
Net Deferred Tax Assets (Liabilities) | $ 3,000 | $ 3,000 | $ 6,300 | ||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 3,100 | 3,100 | |||
Operating Loss Carryforwards, Total | 20,000 | 20,000 | |||
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 0 | $ 0 |
Note 8 - Income Taxes - Effecti
Note 8 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Provision at statutory tax rates | $ 1,013 | $ 643 | $ 1,541 | $ 1,313 |
Provision at statutory tax rates, percentage | 21.00% | 21.00% | 21.00% | 21.00% |
Tax effects of tax free interest income | $ (165) | $ (78) | $ (271) | $ (184) |
Tax effects of tax free interest income, percentage | (3.42%) | (2.55%) | (3.69%) | (2.94%) |
Non-deductible interest expense | $ 4 | $ 2 | $ 9 | $ 7 |
Non-deductible interest expense, percentage | 0.09% | 0.06% | 0.12% | 0.11% |
Bank-owned life insurance | $ (25) | $ (27) | $ (52) | $ (55) |
Bank-owned life insurance, percentage | (0.52%) | (0.88%) | (0.71%) | (0.88%) |
Other items, net | $ (22) | $ (26) | $ 30 | $ (12) |
Other items, net, percentage | (0.47%) | (0.85%) | 0.41% | (0.19%) |
Income tax provision | $ 805 | $ 514 | $ 1,257 | $ 1,069 |
Income tax provision, percentage | 16.68% | 16.78% | 17.13% | 17.10% |
Note 9 - Related Party Transa_3
Note 9 - Related Party Transactions (Details Textual) - Directors, Executive Officers and Their Related Parties [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Due from Related Parties, Total | $ 15,400 | $ 15,400 | |||
Related Party Deposit Liabilities | 117,100 | 117,100 | $ 84,100 | ||
Related Party Transactions, Interest Paid on Deposits | 270 | $ 241 | |||
Related Party Transaction, Expenses from Transactions with Related Party | 223 | $ 528 | 713 | $ 1,000 | |
Nonperforming Financial Instruments [Member] | |||||
Due from Related Parties, Total | $ 0 | $ 0 |
Note 9 - Related Party Transa_4
Note 9 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Balance, beginning of period | $ 82,818 | $ 72,150 | $ 77,896 | $ 64,634 |
Additions, new loans and advances | 13,143 | 12,004 | 30,696 | 29,093 |
Repayments | (2,388) | (5,402) | (15,019) | (14,975) |
Balance, end of period | $ 93,573 | $ 78,752 | $ 93,573 | $ 78,752 |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingencies (Details Textual) $ in Thousands | Jun. 30, 2020USD ($) |
Automobile Lease [Member] | |
Operating Lease, Right-of-Use Asset | $ 18 |
Operating Lease, Liability, Total | 16 |
Other Assets [Member] | |
Operating Lease, Right-of-Use Asset | 3,000 |
Operating Lease, Liability, Total | $ 3,300 |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingencies - Lease Expense and Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Variable lease cost | $ 0 | $ 0 | $ 0 | $ 0 |
Total lease cost | 108 | 103 | 215 | 208 |
Occupancy, Net [Member] | ||||
Operating lease cost | 91 | 86 | 177 | 171 |
Short-term lease cost | 9 | 9 | 18 | 24 |
Equipment Expense [Member] | ||||
Operating lease cost | 8 | 6 | 20 | 8 |
Short-term lease cost | $ 0 | $ 2 | $ 0 | $ 5 |
Note 10 - Commitments and Con_5
Note 10 - Commitments and Contingencies - Maturity of Remaining Operating Lease Liabilities (Details) $ in Thousands | Jun. 30, 2020USD ($) |
2020 | $ 172 |
2021 | 361 |
2022 | 331 |
2023 | 323 |
2024 | 287 |
2025 and thereafter | 2,813 |
Total lease payments | 4,287 |
Less: imputed interest | 956 |
Other Liabilities [Member] | |
Present value of operating lease liabilities | $ 3,331 |
Note 10 - Commitments and Con_6
Note 10 - Commitments and Contingencies - Other Information Related to Operating Leases (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Weighted-average remaining lease term (Year) | 13 years 11 months 26 days |
Weighted-average discount rate | 3.47% |
Operating cash flows from operating leases | $ 216 |
Note 11 - Stock Compensation _3
Note 11 - Stock Compensation Plans Subsequent Event (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 01, 2020 | Jun. 30, 2020 | Jun. 30, 2019 |
Subsequent Event [Member] | Non-employee Director [Member] | |||
Stock Issued During Period, Shares, Share-based Compensation, Per Recipient (in shares) | 2,555 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 5.87 | ||
Directors Fee | $ 150 | ||
Subsequent Event [Member] | Ten Non-employee Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 25,550 | ||
Long-Term Incentive Compensation Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 75,924 | 57,684 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 778,857 | ||
Share-based Payment Arrangement, Expense | $ 143 | $ 140 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,100 | $ 1,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 10 months 6 days |
Note 11 - Stock Compensation _4
Note 11 - Stock Compensation Plans Subsequent Event - Stock Compensation Plans (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Total outstanding, beginning of period (in shares) | 201,415 | 172,386 | 128,150 | 114,702 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 7.14 | $ 7.55 | $ 7.76 | $ 7.50 |
Awards granted (in shares) | 0 | 0 | 75,924 | 57,684 |
Awards granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 6.07 | $ 7.64 |
Forfeitures (in shares) | 0 | (781) | (2,659) | (781) |
Forfeitures, weighted average grant date fair value (in dollars per share) | $ 0 | $ 7.68 | $ 6.24 | $ 7.68 |
Vestings (in shares) | (31,783) | (37,558) | (31,783) | (37,558) |
Vestings, weighted average grant date fair value (in dollars per share) | $ 7.69 | $ 6.80 | $ 7.69 | $ 6.80 |
Total outstanding, end of period (in shares) | 169,632 | 134,047 | 169,632 | 134,047 |
Unvested restricted stock awards, weighted average grant date fair value (in dollars per share) | $ 7.04 | $ 7.75 | $ 7.04 | $ 7.75 |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 30, 2020 | Feb. 08, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Stock Issued During Period, Shares, New Issues (in shares) | 3,285,550 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 7 | ||||||
Shares Issued, Underwriting Discount Per Share (in dollars per share) | $ 0.35 | ||||||
Proceeds from Issuance of Common Stock | $ 21,300 | $ 21 | $ 21,323 | ||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.055 | $ 0.05 | $ 0.11 | $ 0.10 | |||
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares) | 2,574 | 1,899 | 5,416 | 3,538 | |||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.055 | $ 0.050 | $ 0.110 | $ 0.100 | |||
Subsequent Event [Member] | |||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.055 | ||||||
Dividends Payable, Date to be Paid | Sep. 15, 2020 | ||||||
Dividends Payable, Date of Record | Sep. 1, 2020 | ||||||
FNCB Bank [Member] | |||||||
Payments for Capital Investment in Wholly Owned Subsidiary | $ 17,800 | ||||||
Over-Allotment Option [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 428,550 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Risk-based Capital and Related Ratios (Details) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Total capital (to risk-weighted assets), Amount | $ 148,033 | $ 133,406 |
Total capital (to risk-weighted assets), Ratio | 0.1568 | 0.1477 |
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 0.0800 | 0.0800 |
Total capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 0.1050 | 0.1050 |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 0.1000 | 0.1000 |
Tier I capital (to risk-weighted assets), Amount | $ 136,348 | $ 123,753 |
Tier I capital (to risk-weighted assets), Ratio | 0.1444 | 0.1370 |
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes | 0.0600 | 0.0600 |
Tier I capital (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 0.0850 | 0.0850 |
Tier I capital (to risk-weighted assets), To be well capitalized under prompt corrective action | 0.0800 | 0.0800 |
Tier I common equity (to risk-weighted assets), Amount | $ 136,348 | $ 123,753 |
Tier I common equity (to risk-weighted assets), Ratio | 0.1444 | 0.1370 |
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes | 0.0450 | 0.0450 |
Tier I common equity (to risk-weighted assets), Minimum required for capital adequacy purposes with conservation buffer | 0.0700 | 0.0700 |
Tier I common equity (to risk-weighted assets), To be well capitalized under prompt corrective action | 0.0650 | 0.0650 |
Tier I capital (to average assets), Amount | $ 136,348 | $ 123,753 |
Tier I capital (to average assets), Ratio | 0.1042 | 0.1036 |
Tier I capital (to average assets), Minimum required for capital adequacy purposes | 0.0400 | 0.0400 |
Tier I capital (to average assets), Minimum required for capital adequacy purposes with conservation buffer | 0.0400 | 0.0400 |
Tier I capital (to average assets), To be well capitalized under prompt corrective action | 0.0500 | 0.0500 |
Total risk-weighted assets, Amount | $ 944,154 | $ 903,172 |
Total average assets, Amount | $ 1,308,588 | $ 1,194,789 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 291,819 | $ 268,971 |
Debt Securities, Available-for-sale, Total | 305,611 | 272,839 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 15,800 | 7,000 |
Debt Securities, Available-for-sale, Total | $ 15,687 | $ 7,182 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.0555 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.0680 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities, at fair value | $ 305,611 | $ 272,839 |
Equity securities, at fair value | 938 | 920 |
Derivative liabilities | 126 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 179,200 | 117,763 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 11,098 | 18,485 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 28,485 | 25,075 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 15,687 | 7,182 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 6,390 | 5,621 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 695 | 696 |
Fair Value, Recurring [Member] | ||
Available-for-sale debt securities, at fair value | 305,611 | 272,839 |
Equity securities, at fair value | 938 | 920 |
Total | 306,549 | 273,759 |
Derivative liabilities | 126 | |
Total | 126 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Equity securities, at fair value | 938 | 920 |
Total | 938 | 920 |
Derivative liabilities | 0 | |
Total | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 293,898 | 267,689 |
Equity securities, at fair value | 0 | 0 |
Total | 293,898 | 267,689 |
Derivative liabilities | 126 | |
Total | 126 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 11,713 | 5,150 |
Equity securities, at fair value | 0 | 0 |
Total | 11,713 | 5,150 |
Derivative liabilities | 0 | |
Total | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 179,200 | 117,763 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 179,200 | 117,763 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | ||
Available-for-sale debt securities, at fair value | 59,346 | 80,294 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 59,346 | 80,294 |
Fair Value, Recurring [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | ||
Available-for-sale debt securities, at fair value | 4,710 | 17,723 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 4,710 | 17,723 |
Fair Value, Recurring [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 11,098 | 18,485 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 11,098 | 18,485 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 28,485 | 25,075 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 28,485 | 25,075 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 15,687 | 7,182 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 3,974 | 2,032 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 11,713 | 5,150 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 6,390 | 5,621 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 6,390 | 5,621 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 695 | 696 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 695 | 696 |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | $ 0 | $ 0 |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Changes in Fair Value Assets (Details) - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Balance | $ 5,150 | $ 3,929 |
Additions | 8,800 | 1,000 |
Payments Received | 0 | 0 |
Sales | 0 | 0 |
Included in earnings | 0 | 0 |
Included in other comprehensive income (loss) | (2,237) | 152 |
Balance | $ 11,713 | $ 5,081 |
Note 13 - Fair Value Measurem_6
Note 13 - Fair Value Measurements - Assets Measured At Fair Value on a Non-recurring Basis and Quantitative Information (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Recorded Investment | $ 14,283 | $ 15,786 |
Related Allowance | 513 | 473 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded Investment | 5,484 | 7,721 |
Related Allowance | 352 | 376 |
Fair Value | $ 5,132 | $ 7,345 |
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Other Real Estate Owned [Member] | ||
Recorded Investment | $ 289 | |
Related Allowance | 0 | |
Fair Value | $ 289 | |
Selling Cost | 10.00% | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | ||
Recorded Investment | $ 8,799 | $ 8,065 |
Related Allowance | 161 | 97 |
Fair Value | $ 8,638 | $ 7,968 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Minimum [Member] | ||
Discount Rate | 3.00% | 3.99% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | Maximum [Member] | ||
Discount Rate | 8.75% | 7.49% |
Note 13 - Fair Value Measurem_7
Note 13 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities | $ 305,611 | $ 272,839 |
Equity securities, at fair value | 938 | 920 |
Derivative liabilities | 126 | |
Reported Value Measurement [Member] | ||
Available-for-sale debt securities | 305,611 | 272,839 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 101,479 | 34,565 |
Equity securities, at fair value | 938 | 920 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 3,309 | 3,804 |
Loans held for sale | 765 | 1,061 |
Accrued interest receivable | 5,201 | 3,234 |
Deposits | 1,169,627 | 1,001,709 |
Borrowed funds | 89,361 | 57,219 |
Accrued interest payable | 248 | 258 |
Derivative liabilities | 126 | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 937,404 | 819,529 |
Equity securities without readily determinable fair values | 1,658 | 1,658 |
Servicing rights | 303 | 356 |
Estimate of Fair Value Measurement [Member] | ||
Available-for-sale debt securities | 305,611 | 272,839 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 101,479 | 34,565 |
Equity securities, at fair value | 938 | 920 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 3,309 | 3,804 |
Loans held for sale | 765 | 1,061 |
Accrued interest receivable | 5,201 | 3,234 |
Deposits | 1,171,369 | 1,001,829 |
Borrowed funds | 89,764 | 57,234 |
Accrued interest payable | 248 | 258 |
Derivative liabilities | 126 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 937,890 | 810,074 |
Equity securities without readily determinable fair values | 1,658 | 1,658 |
Servicing rights | $ 557 | $ 790 |
Note 14 - Earnings Per Share -
Note 14 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income | $ 4,021 | $ 2,549 | $ 6,084 | $ 5,184 |
Basic weighted-average number of common shares outstanding (in shares) | 20,191,527 | 20,129,150 | 20,182,012 | 19,428,717 |
Plus: Common share equivalents (in shares) | 0 | 4,700 | 2,034 | 6,359 |
Diluted weighted-average number of common shares outstanding (in shares) | 20,191,527 | 20,133,850 | 20,184,046 | 19,435,076 |
Basic (in dollars per share) | $ 0.20 | $ 0.13 | $ 0.30 | $ 0.27 |
Diluted (in dollars per share) | $ 0.20 | $ 0.13 | $ 0.30 | $ 0.27 |
Note 15 - Other Comprehensive_3
Note 15 - Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Reclassification adjustment for gains included in net income | $ (922) | $ (163) | $ (1,071) | $ (323) |
Income tax expense | 805 | 514 | 1,257 | 1,069 |
Net of tax amount | 729 | 129 | 846 | 255 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification adjustment for gains included in net income | (922) | (163) | (1,071) | (323) |
Income tax expense | 193 | 34 | 225 | 68 |
Net of tax amount | $ (729) | $ (129) | $ (846) | $ (255) |
Note 15 - Other Comprehensive_4
Note 15 - Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Balances | $ 137,932 | $ 123,782 | $ 133,607 | $ 97,219 |
Total other comprehensive income | 4,428 | 4,302 | 7,723 | 7,853 |
Balances | 145,357 | 129,706 | 145,357 | 129,706 |
AOCI Attributable to Parent [Member] | ||||
Balances | 6,351 | (989) | 3,056 | (4,540) |
Other comprehensive income (loss) before reclassifications | 5,157 | 4,431 | 8,569 | 8,108 |
Amount reclassified from accumulated other comprehensive income (loss) | (729) | (129) | (846) | (255) |
Total other comprehensive income | 4,428 | 4,302 | 7,723 | 7,853 |
Balances | $ 10,779 | $ 3,313 | $ 10,779 | $ 3,313 |