Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 12, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001035976 | ||
Entity Registrant Name | FNCB BANCORP, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 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 Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 97,621,290 | ||
Entity Common Stock, Shares Outstanding | 20,238,120 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 24,822 | $ 23,944 |
Interest-bearing deposits in other banks | 130,989 | 10,621 |
Total cash and cash equivalents | 155,811 | 34,565 |
Available-for-sale debt securities, at fair value | 350,035 | 272,839 |
Equity securities, at fair value | 3,026 | 920 |
Restricted stock, at cost | 1,745 | 3,804 |
Loans held for sale | 2,107 | 1,061 |
Loans, net of allowance for loan and lease losses of $11,950 and $8,950 | 889,152 | 819,529 |
Bank premises and equipment, net | 17,579 | 17,518 |
Accrued interest receivable | 4,286 | 3,234 |
Bank-owned life insurance | 31,712 | 31,230 |
Other assets | 10,226 | 18,841 |
Total assets | 1,465,679 | 1,203,541 |
Liabilities | ||
Demand (non-interest-bearing) | 271,499 | 179,465 |
Interest-bearing | 1,015,949 | 822,244 |
Total deposits | 1,287,448 | 1,001,709 |
Borrowed funds: | ||
Federal Home Loan Bank of Pittsburgh advances | 0 | 46,909 |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 10,310 | 57,219 |
Accrued interest payable | 108 | 258 |
Other liabilities | 11,953 | 10,748 |
Total liabilities | 1,309,819 | 1,069,934 |
Shareholders' equity | ||
Preferred stock ($1.25 par); Authorized: 20,000,000 shares at December 31, 2020 and December 31, 2019; Issued and outstanding: 0 shares at December 31, 2020 and December 31, 2019 | 0 | 0 |
Common stock ($1.25 par); Authorized: 50,000,000 shares at December 31, 2020 and December 31, 2019; Issued and outstanding: 20,245,649 shares at December 31, 2020 and 20,171,408 shares at December 31, 2019 | 25,307 | 25,214 |
Additional paid-in capital | 81,587 | 81,130 |
Retained earnings | 35,080 | 24,207 |
Accumulated other comprehensive income | 13,886 | 3,056 |
Total shareholders' equity | 155,860 | 133,607 |
Total liabilities and shareholders’ equity | $ 1,465,679 | $ 1,203,541 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans, allowance for loan and lease losses | $ 11,950 | $ 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) | 20,245,649 | 20,171,408 |
Common shares, outstanding (in shares) | 20,245,649 | 20,171,408 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Interest and fees on loans | $ 37,615 | $ 37,818 |
Interest and dividends on securities: | ||
U.S. government agencies | 2,336 | 3,545 |
State and political subdivisions, tax-free | 1,373 | 149 |
State and political subdivisions, taxable | 3,025 | 3,263 |
Other securities | 1,961 | 1,093 |
Total interest and dividends on securities | 8,695 | 8,050 |
Interest on interest-bearing deposits in other banks | 28 | 188 |
Total interest income | 46,338 | 46,056 |
Interest expense | ||
Interest on deposits | 5,404 | 8,101 |
Interest on borrowed funds: | ||
Federal Reserve Bank Discount Window advances | 32 | 0 |
Federal Home Loan Bank of Pittsburgh advances | 474 | 1,241 |
Subordinated debentures | 0 | 24 |
Junior subordinated debentures | 250 | 430 |
Total interest on borrowed funds | 756 | 1,695 |
Total interest expense | 6,160 | 9,796 |
Net interest income before provision for loan and lease losses | 40,178 | 36,260 |
Provision for loan and lease losses | 1,941 | 797 |
Net interest income after provision for loan and lease losses | 38,237 | 35,463 |
Non-interest income | ||
Deposit service charges | 3,252 | 3,035 |
Net gain on the sale of available-for-sale securities | 1,528 | 1,227 |
Net gain on equity securities | 1,171 | 29 |
Net gain on the sale of mortgage loans held for sale | 653 | 253 |
Net gain on the sale of other real estate owned | 0 | 20 |
Loan-related fees | 348 | 378 |
Income from bank-owned life insurance | 482 | 520 |
Loan referral fees/interest rate swap revenue | 390 | 703 |
Merchant services revenue | 565 | 536 |
Other | 861 | 919 |
Total non-interest income | 9,250 | 7,620 |
Non-interest expense | ||
Salaries and employee benefits | 15,246 | 15,518 |
Occupancy expense | 2,052 | 1,948 |
Equipment expense | 1,477 | 1,319 |
Advertising expense | 685 | 738 |
Data processing expense | 2,933 | 3,113 |
Bank shares tax | 786 | 566 |
Professional fees | 999 | 1,056 |
Other operating expenses | 4,737 | 5,424 |
Total non-interest expense | 28,915 | 29,682 |
Income before income tax expense | 18,572 | 13,401 |
Income tax expense | 3,225 | 2,326 |
Net income | $ 15,347 | $ 11,075 |
Earnings per share | ||
Basic (in dollars per share) | $ 0.76 | $ 0.56 |
Diluted (in dollars per share) | 0.76 | 0.56 |
Cash dividends declared per common share (in dollars per share) | $ 0.22 | $ 0.20 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||
Basic (in shares) | 20,210,439 | 19,802,095 |
Diluted (in shares) | 20,212,187 | 19,807,592 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 15,347 | $ 11,075 |
Other comprehensive income: | ||
Unrealized gains on available-for-sale debt securities | 15,349 | 10,842 |
Taxes | (3,223) | (2,277) |
Net of tax amount | 12,126 | 8,565 |
Reclassification adjustment for net gains included in net income | (1,528) | (1,227) |
Taxes | 321 | 258 |
Net of tax amount | (1,207) | (969) |
Derivative adjustments | (112) | 0 |
Taxes | 23 | 0 |
Net of tax amount | (89) | 0 |
Total other comprehensive income | 10,830 | 7,596 |
Comprehensive income | $ 26,177 | $ 18,671 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - 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 | ||||
Balance, January 1, at Dec. 31, 2018 | $ 21,026 | $ 63,547 | $ 17,186 | $ (4,540) | $ 97,219 |
Net income | 0 | 0 | 11,075 | 0 | 11,075 |
Cash dividends | $ 0 | 0 | (4,030) | 0 | (4,030) |
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 |
Restricted stock awards | $ 0 | 255 | 0 | 0 | 255 |
Common shares issued under long-term incentive compensation plan (in shares) | 57,118 | ||||
Common shares issued under long-term incentive compensation plan | $ 71 | 79 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 7,369 | 7,369 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 10 | 48 | (24) | 0 | $ 34 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 7,596 | 7,596 |
Balances (in shares) at Dec. 31, 2019 | 20,171,408 | ||||
Balance, December 31, at Dec. 31, 2019 | $ 25,214 | 81,130 | 24,207 | 3,056 | 133,607 |
Net income | 0 | 0 | 15,347 | 0 | 15,347 |
Cash dividends | 0 | 0 | (4,447) | 0 | (4,447) |
Restricted stock awards | $ 0 | 336 | 0 | 0 | 336 |
Common shares issued under long-term incentive compensation plan (in shares) | 63,970 | ||||
Common shares issued under long-term incentive compensation plan | $ 80 | 70 | 0 | 0 | $ 150 |
Common shares issued through dividend reinvestment/optional cash purchase plan (in shares) | 10,271 | 10,271 | |||
Common shares issued through dividend reinvestment/optional cash purchase plan | $ 13 | 51 | (27) | 0 | $ 37 |
Other comprehensive income, net of tax | $ 0 | 0 | 0 | 10,830 | 10,830 |
Balances (in shares) at Dec. 31, 2020 | 20,245,649 | ||||
Balance, December 31, at Dec. 31, 2020 | $ 25,307 | $ 81,587 | $ 35,080 | $ 13,886 | $ 155,860 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash dividends declared, per share (in dollars per share) | $ 0.22 | $ 0.20 |
Other comprehensive income , tax | $ 2,879 | $ 2,019 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 15,347 | $ 11,075 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 879 | 746 |
Equity in trust | (8) | (13) |
Depreciation of bank premises and equipment | 1,628 | 1,396 |
Amortization of loan origination (fees) costs | (626) | 1,591 |
Valuation adjustment for loan servicing rights | 16 | 2 |
Stock-based compensation expense | 486 | 405 |
Provision for loan and lease losses | 1,941 | 797 |
Valuation adjustment for off-balance sheet commitments | (90) | 448 |
Net gain on the sale/redemption of available-for-sale debt securities | (1,528) | (1,227) |
Net gain on equity securities | (1,171) | (29) |
Net gain on the sale of mortgage loans held for sale | (653) | (253) |
Net gain on the sale of other real estate owned | 0 | (20) |
Valuation adjustment of other real estate owned | 27 | 85 |
Loss on the disposition of bank premises and equipment | 0 | 35 |
Gain on bank-owned life insurance settlement | 0 | (114) |
Income from bank-owned life insurance | (482) | (520) |
Proceeds from the sale of mortgage loans held for sale | 14,510 | 9,900 |
Funds used to originate mortgage loans held for sale | (14,903) | (9,887) |
Decrease in net deferred tax assets | 3,219 | 2,396 |
(Increase) decrease in accrued interest receivable | (1,052) | 380 |
Decrease (increase) in other assets | 1,412 | (2,107) |
Decrease in accrued interest payable | (150) | (80) |
Increase (decrease) in other liabilities | 773 | (354) |
Total adjustments | 4,228 | 3,577 |
Net cash provided by operating activities | 19,575 | 14,652 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale debt securities | 20,694 | 11,051 |
Proceeds from the sale/redemption of available-for-sale debt securities | 69,271 | 128,233 |
Purchases of available-for-sale debt securities | (152,691) | (105,995) |
Purchase of equity securities | (500) | 0 |
Redemption (purchase) of the stock in Federal Home Loan Bank of Pittsburgh | 2,059 | (681) |
Proceeds from the sale/transfer of equity securities | 1,223 | 0 |
Purchase of equity securities without readily determinable fair values | (500) | 0 |
Net (increase) decrease in loans to customers | (70,820) | 7,737 |
Proceeds from the sale of other real estate owned | 204 | 821 |
Proceeds received from bank-owned life insurance settlement | 0 | 419 |
Proceeds received from sale of bank premises and equipment | 0 | 16 |
Purchases of bank premises and equipment | (1,689) | (4,540) |
Net cash (used in) provided by investing activities | (132,749) | 37,061 |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 285,739 | (93,920) |
(Repayment of) proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | (14,100) | 7,500 |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 20,000 | 70,000 |
Repayment of Federal Home Loan Bank of Pittsburgh advances - term | (52,809) | (49,521) |
Principal reduction on subordinated debentures | 0 | (5,000) |
Proceeds from issuance of common shares, net of discount | 37 | 21,342 |
Cash dividends paid | (4,447) | (4,030) |
Net cash provided by (used in) financing activities | 234,420 | (53,629) |
Net increase (decrease) in cash and cash equivalents | 121,246 | (1,916) |
Cash and cash equivalents at beginning of year | 34,565 | 36,481 |
Cash and cash equivalents at end of year | 155,811 | 34,565 |
Supplemental cash flow information | ||
Interest | 6,310 | 9,876 |
Other transactions: | ||
Lease liabilities arising from obtaining right-of-use assets | 387 | 92 |
Investor loans transferred to other real estate owned | $ 0 | $ 256 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. FNCB Bancorp, Inc. is a registered bank holding company under the Bank Holding Company Act of 1956, 1997. ’s wholly owned subsidiaries FNCB Realty Company, Inc., FNCB Realty Company I, LLC, and FNCB Realty Company II, LLC. Unless the context otherwise requires, the term “FNCB” is used to refer to FNCB Bancorp, Inc., and its subsidiaries. In certain circumstances, however, the term “FNCB” refers to FNCB Bancorp, Inc., itself. The Bank provides customary retail and commercial banking services to individuals, businesses and local governments and municipalities through its 17 full-service branch locations within its primary market area, Northeastern Pennsylvania. FNCB Realty Company, Inc., FNCB Realty Company I, LLC, and FNCB Realty Company II, LLC, which were formed to hold real estate and/or operate businesses acquired in exchange for debt settlement or foreclosure, were inactive at December 31, 2020 2019. In December 2006, 810 10, not not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. Basis of Presentation The consolidated financial statements of FNCB are comprised of the accounts of FNCB Bancorp, Inc., and its wholly-owned subsidiary, FNCB Bank, as well as the Bank’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”), Regulation S- X 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. Cash Equivalents For purposes of reporting cash flows, cash equivalents include cash on hand and amounts due from banks. Securities Debt Securities and Equity Securities with Readily Determinable Fair Values FNCB classifies its investments in debt securities as either held-to-maturity or available-for-sale at the time of purchase. Debt securities that are classified as held-to-maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities that are classified as available-for-sale are carried at fair value with unrealized holding gains and losses recognized as a component of shareholders’ equity in accumulated other comprehensive income (loss), net of tax. Premiums on callable debt securities are amortized to the earliest call date. Amortization of premiums and accretion of discounts on noncallable debt securities is recognized over the life of the related security as an adjustment to yield using the interest method. Realized gains and losses on sales of debt securities are based on amortized cost using the specific identification method on the trade date. All of FNCB's debt securities were classified as available-for-sale at December 31, 2020 2019 Equity securities with readily determinable fair values are reported at fair value with net unrealized gains and losses recognized in the consolidated statements of income. Fair values for debt securities and equity securities with readily determinable fair values are based upon quoted market prices, where available. If quoted market prices are not Restricted Securities Investments in restricted securities have limited marketability, are carried at cost and are evaluated for impairment based on FNCB’s determination of the ultimate recoverability of the par value of the stock. FNCB’s investment in restricted securities is comprised of stock in the Federal Home Loan Bank of Pittsburgh and Atlantic Community Bankers Bank. Equity Securities without Readily Determinable Fair Value Equity securities without readily determinable fair values generally consist of common and/or preferred stock of privately held financial institutions, which are carried at cost and included in other assets in the consolidated statements of financial condition. On a quarterly basis, management performs a qualitative assessment to determine if the securities are impaired. If the qualitative assessment indicates impairment, the security is written down to its fair value, with the charge for impairment included in net income. Evaluation for Other Than Temporary Impairment On a quarterly basis, management evaluates all securities in an unrealized loss position for other than temporary impairment (“OTTI”). An individual security is considered impaired when its current fair value is less than its amortized cost basis. As part of its evaluation, management considers the following factors, among other things, in determining whether the security’s impairment is other than temporary: ● the length of time and extent of the impairment; ● the causes of the decline in fair value, such as credit deterioration, interest rate fluctuations, or market volatility; ● adverse industry or geographic conditions; ● historical implied volatility; ● payment structure of the security and whether FNCB expects to receive all contractual cash flows; ● failure of the issuer to make contractual interest or principal payments in the past; and ● changes in the security’s rating. Based on current authoritative guidance, when a held-to-maturity or available-for-sale security is assessed for OTTI, management must first not one not two not Loans and Loan Origination Fees and Costs Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balance, net of unamortized deferred loan fees and costs, any unearned income and partial charge-offs. Loans receivable are presented net of the allowance for loan and lease losses in the consolidated statements of financial condition. Interest income on all loans is recognized using the effective interest method. Nonrefundable loan origination fees, as well as certain direct loan origination costs, are deferred and the net amount amortized over the contractual life of the related loan as an adjustment to yield using the effective interest method. Amortization of deferred loan fees or costs is discontinued when a loan is placed on non-accrual status. Loans are placed on non-accrual status when a loan is specifically determined to be impaired or when management believes that the collection of interest or principal is doubtful. This generally occurs when a default of interest or principal has existed for 90 days or more, unless the loan is well secured and in the process of collection, or when management becomes aware of facts or circumstances that the loan would default before 90 first six no In accordance with federal regulations, prior to making, extending, renewing or advancing additional funds in excess of $ 500 third may Troubled Debt Restructurings FNCB considers a loan to be a troubled debt restructuring (“TDR”) when it grants a concession to the borrower for legal or economic reasons related to the borrower’s financial difficulties that it would not six Loan Impairment A loan is considered impaired when it is probable that FNCB will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the note and loan agreement. For purposes of the analysis, all TDRs, loan relationships with an aggregate outstanding balance greater than $100 not may Generally, all loans with balances of $100 thousand or less are considered within homogeneous pools and are not Impaired loans, or portions thereof, are charged-off upon determination that all or a portion of the loan balance is uncollectible and exceeds the fair value of the collateral. A loan is considered uncollectible when the borrower is delinquent with respect to principal or interest repayment and it is unlikely that the borrower will have the ability to pay the debt in a timely manner, collateral value is insufficient to cover the outstanding indebtedness and the guarantors (if applicable) do not Allowance for Loan and Lease Losses Management evaluates the credit quality of FNCB’s loan portfolio on an ongoing basis and performs a formal review of the adequacy of the ALLL on a quarterly basis. The ALLL is established through a provision for loan losses charged to earnings and is maintained at a level that management considers adequate to absorb estimated probable losses inherent in the loan portfolio as of the evaluation date. Loans, or portions of loans, determined by management to be uncollectible are charged off against the ALLL, while recoveries of amounts previously charged off are credited to the ALLL. Determining the amount of the ALLL is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, qualitative factors, and consideration of current economic trends and conditions, all of which may may FNCB's allowance methodology consists primarily of two $100 may may not When establishing the ALLL, management categorizes loans into the following loan segments that are based generally on the nature of the collateral and basis of repayment. The risk characteristics of FNCB’s loan segments are as follows: Construction, Land Acquisition and Development Loans one four not 65%. 85% Commercial Real Estate Loans not not 25 85%. Commercial and Industrial Loans - may State and Political Subdivision Loans Residential Real Estate Loans 1 4 first 80% 80% may 90% 15 Consumer Loans Off-Balance-Sheet Credit-Related Financial Instruments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments include commitments to extend credit, unused portions of lines of credit, including revolving HELOCs, and letters of credit. FNCB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument is represented by the contractual notional amount of these instruments. FNCB uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In order to provide for probable losses inherent in these instruments, FNCB records a reserve for unfunded commitments, included in other liabilities on the consolidated statements of financial condition, with the offsetting expense recorded in other operating expenses in the consolidated statements of income. Mortgage Banking Activities, Loan Sales and Servicing Mortgage loans originated and held for sale are carried at the lower of aggregate cost or fair value determined on an individual loan basis. Net unrealized losses are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold and include the value assigned to the rights to service the loan. FNCB may Servicing rights are recorded at fair value upon sale of the loan and reported in other assets on the consolidated statements of financial condition. Servicing rights are amortized in proportion to and over the period during which estimated servicing income will be received. Fair value is based on market prices for comparable servicing contracts, when available, or alternately, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing rights are evaluated for impairment at each reporting date based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranche. If management later determines that all or a portion of the impairment no may Other Real Estate Owned OREO consists of property acquired by foreclosure, abandonment or conveyance of deed in-lieu of foreclosure of a loan, and bank premises that are no no may Bank Premises and Equipment Land is stated at cost. Bank premises, equipment and leasehold improvements are stated at cost less accumulated depreciation. Costs for routine maintenance and repairs are expensed as incurred, while significant expenditures for improvements are capitalized. Depreciation expense is computed generally using the straight-line method over the following ranges of estimated useful lives, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Buildings and improvements (years) 5 to 40 Furniture, fixtures and equipment (years) 3 to 20 Leasehold improvements (years) 3 to 35 Long-lived Assets Intangible assets and bank premises and equipment are reviewed by management at least annually for potential impairment and whenever events or circumstances indicate that carrying amounts may not Income Taxes FNCB recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than- not not FNCB files a consolidated f not no 2017. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than- not not not 50% x December 31, 2020 2019 Earnings per Share Earnings per share is calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per share reflect additional shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may Stock-Based Compensation FNCB recognizes all share-based payments for compensation in the consolidated statements of income based on their fair values on the grant date. The fair value of shares of unrestricted and restricted stock and awarded under the Long Term Incentive Compensation Plan (“LTIP”) is determined using an average of the high and low prices for FNCB’s common stock for the 10 Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) represents the cash surrender value of life insurance policies on certain current and former directors and officers of FNCB. FNCB purchased the insurance as a tax-deferred investment and future source of funding for liabilities, including the payment of employee benefits such as health care. BOLI is carried in the consolidated statements of financial condition at its cash surrender value. Increases in the cash value of the policies, as well as proceeds received, are recorded in non-interest income. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $116 thousand and $113 thousand at December 31, 2020 2019 Fair Value Measurement FNCB uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale debt securities and derivative contracts are recorded at fair value on a recurring basis. Additionally, from time to time, FNCB may Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not Accounting standards define fair value, establish a framework for measuring fair value, establish a three The three ● Level 1 ● Level 2 not ● Level 3 not Revenue Recognition FNCB recognizes revenues as they are earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. FNCB's primary source of revenue is interest income from the Bank's loans and investment securities, which is recognized on the accrual basis primarily on terms in written contracts such as loan agreements or securities contracts. FNCB also earns non-interest income from various banking services offered by the Bank as follows: ● Deposit service charges - include general service fees for monthly account maintenance, account analysis fees, non-sufficient funds fees, wire transfer fees and other deposit account related fees. Revenue is recognized when FNCB’s performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for service charges on deposit accounts is received immediately or in the following month through a direct charge to customers’ accounts. Also included in deposit service charges is income from ATM surcharges and debit card services income. ATM surcharges are generated when an FNCB cardholder uses an ATM that is not ● Net gains on the sale of other real estate owned - FNCB records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When FNCB finances the sale of OREO to the buyer, FNCB assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, FNCB adjusts the transaction prices and related gain (loss) on sale if a significant financing component is present. ● Loan referral fees/interest rate swap revenue - Loan referral fees represent fees FNCB receives from a third not no ● Other income – primarily includes wealth management fee income, merchant services fee income and title insurance revenue. Wealth management fee income represents fees received from a third third no Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the statement of financial condition, such items, along with net income, are components of comprehensive income. New Authoritative Accounting Guidance Accounting Standards Update (“ASU”) 2020 04, 848 2020 04 January 7, 2021, 2021 01, 848 2020 04 not 2021 01 848. 2021 01 may not Accounting Guidance to be Adopted in Future Periods 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 ASU 2020 01 321 323 815 321 321; 321 2020 01 December 15, 2020 December 15, 2021 January 1, 2022 not |
Note 3 - Restricted Cash Balanc
Note 3 - Restricted Cash Balances | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 3. On March 26, 2020, $1.6 December 31, 2019, In addition, FNCB maintains compensating balances at correspondent banks, most of which are not December 31, 2020 2019 |
Note 4 - Securities
Note 4 - Securities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4. 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 December 31, 2020 2019 December 31, 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 $ 192,851 $ 13,012 $ 35 $ 205,828 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 54,091 2,940 59 56,972 Collateralized mortgage obligations - commercial 3,721 183 - 3,904 Mortgage-backed securities 12,452 588 14 13,026 Private collateralized mortgage obligations 37,926 352 79 38,199 Corporate debt securities 23,800 790 10 24,580 Asset-backed securities 7,505 46 25 7,526 Negotiable certificates of deposit - - - - Total available-for-sale debt securities $ 332,346 $ 17,911 $ 222 $ 350,035 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 10.0% December 31, 2020 2019 The following table presents the maturity information of FNCB’s available-for-sale debt securities at December 31, 2020 . may not not December 31, 2020 Available-for-Sale Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 4,663 $ 4,718 After one year through five years 61,851 66,433 After five years through ten years 44,805 47,397 After ten years 105,332 111,860 Asset-backed securities 7,505 7,526 Collateralized mortgage obligations 95,738 99,075 Mortgage-backed securities 12,452 13,026 Total $ 332,346 $ 350,035 The following table presents the gross proceeds received and gross realized gains and losses on sales and redemption of available-for-sale debt securities for the years ended December 31, 2020 2019 . Year Ended December 31, (in thousands) 2020 2019 Available-for-sale debt securities: Gross proceeds received on sales $ 68,256 $ 128,233 Gross proceeds received on redemption 1,015 - Gross realized gains on sales 1,686 1,257 Gross realized losses on sales (173 ) (30 ) Gross realized gain on redemption 15 - The following tables present the number of, fair value and gross unrealized losses of available-for-sale debt securities with unrealized losses at December 31, 2020 2019 December 31, 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 6 $ 4,541 $ 35 - $ - $ - 6 $ 4,541 $ 35 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 7,019 59 - - - 2 7,019 59 Collateralized mortgage obligations - commercial - - - - - - - - - Mortgage-backed securities 1 2,103 14 - - - 1 2,103 14 Private collateralized mortgage obligations 3 7,857 42 1 2,256 37 4 10,113 79 Corporate debt securities 2 1,739 10 - - - 2 1,739 10 Asset-backed securities 2 746 13 1 1,591 12 3 2,337 25 Total 16 $ 24,005 $ 173 2 $ 3,847 $ 49 18 $ 27,852 $ 222 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 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 Management evaluates individual securities in an unrealized loss position quarterly for 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 Management performed a review of all securities in an unrealized loss position as of December 31, 2020 19 no may December 31, 2020 . not not not December 31, 2020 . Equity Securities and Equity Securities without Readily Determinable Fair Value At December 31, 2019, 2017 1933, not not $1.7 December 31, 2019. On December 18, 2019, July 1, 2020. July 1, 2020 On September 15, 2020, December 31, 2020 2019, 1 4 Equity securities held by FNCB with a readily determinable fair value are reported at fair value on the consolidated statements of financial condition with unrealized gains and losses recognized in non-interest income in the consolidated statements of income. At December 31, 2020 2019 December 31, 2020 December 31, 2019. The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the years ended December 31, 2020 2019 Year Ended December 31, (in thousands) 2020 2019 Net gain recognized on equity securities $ 1,171 $ 29 Less: net gains recognized on equity securities sold/acquired 611 - Unrealized gain recognized on equity securities held $ 560 $ 29 On December 29, 2020, March 30, 2021. not third December 31, 2020, not no December 31, 2020. Restricted Securities The following table presents FNCB's investment in restricted securities at December 31, 2020 2019 December 31, (in thousands) 2020 2019 Stock in Federal Home Loan Bank of Pittsburgh $ 1,735 $ 3,794 Stock in Atlantic Community Bankers Bank 10 10 Total restricted securities, at cost $ 1,745 $ 3,804 Management noted no December 31, 2020 2019 |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5. The following table summarizes loans receivable, net, by category at December 31, 2020 2019 December 31, (in thousands) 2020 2019 Residential real estate $ 196,328 $ 187,863 Commercial real estate 273,903 278,379 Construction, land acquisition and development 59,785 47,484 Commercial and industrial 238,435 147,623 Consumer 85,881 121,099 State and political subdivisions 49,009 43,908 Total loans, gross 903,341 826,356 Unearned income (110 ) (69 ) Net deferred loan (fees) costs (2,129 ) 2,192 Allowance for loan and lease losses (11,950 ) (8,950 ) Loans, net $ 889,152 $ 819,529 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 12, For information about credit concentrations within FNCB ’s loan portfolio, refer to Note 13, FNCB originates 1 4 December 31, 2020 2019 1 4 2020 2019 1 4 December 31, 2020 December 31, 2019 . There were no December 31, 2020 December 31, 2020 2019 FNCB does not FNCB provides for loan losses based on the consistent application of its documented ALLL methodology. Loan losses are charged to the ALLL and recoveries are credited to it. Additions to the ALLL are provided by charges against income based on various factors which, in management ’s judgment, deserve current recognition of estimated probable losses. Loan losses are charged-off in the period the loans, or portions thereof, are deemed uncollectible. Generally, FNCB will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated recoverable amount based on its methodology detailed below. Management regularly reviews the loan portfolio and makes adjustments for loan losses in order to maintain the ALLL in accordance with GAAP. The ALLL consists primarily of the following two ( 1 Specific allo wances are established for impaired loans, which FNCB defines as all loan relationships with an aggregate outstanding balance greater than $100 - accrual, loans rated doubtful or loss, and all TDRs. The amount of impairment provided for as an allowance is represented by the deficiency, if any, between the carrying value of the loan and either (a) the present value of expected future cash flows discounted at the loan’s effective interest rate, (b) the loan’s observable market price, or (c) the fair value of the underlying collateral, less estimated costs to sell, for collateral dependent loans. Impaired loans that have no not ( 2 General allowances are established for loan losses on a portfolio basis for loans that do not In addition to the specific and general components, management may may not As part of its evaluation, management considers qualitative and environmental factors, including, but not ● changes in national, local, and business economic conditions and developments, including the condition of various market segments; ● changes in the nature and volume of the loa n portfolio; ● changes in lending policies and procedures, including underwriting standards, collection, charge-off and recovery practices and results; ● changes in the experience, ability and depth of lending management and staff; ● changes in the quality of the loan review system and the degree of oversight by the Board of Directors; ● changes in the trend of the volume and severity of past due and classified loans, including trends in the volume of non-accrual loans, TDRs and other loan modifications; ● the e xistence and effect of any concentrations of credit and changes in the level of such concentrations; ● the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the current loan portf olio; and ● analysis of customers ’ credit quality, including knowledge of their operating environment and financial condition. 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 may ’s operating results or financial condition. While management uses the best information available to make its evaluations, future adjustments to the ALLL may may The following tables present, by loan category, the activity in the ALLL and the allocation of the ALLL and related loan balance disaggregated based on impairment methodology at December 31, 2020 2019 Allowance for Loan and Lease Losses by Loan Category December 31, 2020 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Charge-offs - (336 ) - (254 ) (975 ) - - (1,565 ) Recoveries 43 846 - 1,220 515 - - 2,624 Provisions (credits) 525 560 267 (344 ) 121 152 660 1,941 Ending balance, December 31, 2020 $ 1,715 $ 4,268 $ 538 $ 2,619 $ 1,319 $ 405 $ 1,086 $ 11,950 Specific reserve $ 13 $ 46 $ - $ 357 $ - $ - $ - $ 416 General reserve $ 1,702 $ 4,222 $ 538 $ 2,262 $ 1,319 $ 405 $ 1,086 $ 11,534 Loans receivable: Individually evaluated for impairment $ 2,321 $ 8,448 $ 69 $ 897 $ - $ - $ - $ 11,735 Collectively evaluated for impairment 194,007 265,455 59,716 237,538 85,881 49,009 - 891,606 Total loans, gross at December 31, 2020 $ 196,328 $ 273,903 $ 59,785 $ 238,435 $ 85,881 $ 49,009 $ - $ 903,341 Allowance for Loan and Lease Losses by Loan Category December 31, 2019 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total 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 ) (1,258 ) (1,311 ) - - (2,614 ) Recoveries 9 32 82 364 761 - - 1,248 Provisions (credits) (10 ) 59 19 339 157 (164 ) 397 797 Ending balance, December 31, 2019 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Specific reserve $ 10 $ 221 $ - $ 242 $ - $ - $ - $ 473 General reserve $ 1,137 $ 2,977 $ 271 $ 1,755 $ 1,658 $ 253 $ 426 $ 8,477 Loans receivable: Individually evaluated for impairment $ 2,906 $ 11,640 $ 76 $ 1,164 $ - $ - $ - $ 15,786 Collectively evaluated for impairment 184,957 266,739 47,408 146,459 121,099 43,908 - 810,570 Total loans, gross at December 31, 2019 $ 187,863 $ 278,379 $ 47,484 $ 147,623 $ 121,099 $ 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 commercial loan classification and credit grading processes are part of the lending, underwriting, and credit administration functions to ensure an ongoing assessment of credit quality. FNCB maintains a formal, written loan classification and credit grading system that includes a discussion of the factors used to assign appropriate classifications of credit grades to loans. The risk grade groupings provide a mechanism to identify risk within the loan portfolio and provide management and the board of directors with periodic reports by risk category. The process also identifies groups of loans that warrant the special attention of management. Accurate and timely loan classification and credit grading is a critical component of loan portfolio management. Loan officers are required to review their loan portfolio risk ratings regularly for accuracy. In addition, the credit risk ratings play an important role in the loan review function, as well as the establishment and evaluation of the provision for loan and lease losses and the ALLL. The loan review function uses the same risk rating system in the loan review process. Quarterly, FNCB engages an independent third ’s and management’s assessment. 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. 2. 3. 4. 5. 6. 7. 8. 9. 10. 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, and commercial 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 qualit y indicator at December 31, 2020 2019 Credit Quality Indicators December 31, 2020 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 35,839 $ 494 $ 209 $ - $ - $ 36,542 $ 158,896 $ 890 $ 159,786 $ 196,328 Commercial real estate 256,390 4,349 13,164 - - 273,903 - - - 273,903 Construction, land acquisition and development 55,697 - - - - 55,697 4,088 - 4,088 59,785 Commercial and industrial 233,370 961 1,104 - - 235,435 3,000 - 3,000 238,435 Consumer - - - - - - 85,374 507 85,881 85,881 State and political subdivisions 48,998 - - - - 48,998 11 - 11 49,009 Total $ 630,294 $ 5,804 $ 14,477 $ - $ - $ 650,575 $ 251,369 $ 1,397 $ 252,766 $ 903,341 Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 35,330 $ 177 $ 307 $ - $ - $ 35,814 $ 150,715 $ 1,334 $ 152,049 $ 187,863 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 - - - - - - 120,451 648 121,099 121,099 State and political subdivisions 43,908 - - - - 43,908 - - - 43,908 Total $ 532,300 $ 2,271 $ 12,390 $ - $ - $ 546,960 $ 277,413 $ 1,982 $ 279,395 $ 826,356 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 million December 31, 2020 December 31, 2019 six no may may 90 31, 2020, one 90 no 90 31, 2019 The following tables present the delinquency status of past due and non-accrual loans at December 31, 2020 2019 December 31, 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 $ 194,820 $ 251 $ 159 $ - $ 195,230 Commercial real estate 270,059 606 - - 270,665 Construction, land acquisition and development 59,785 - - - 59,785 Commercial and industrial 237,262 419 16 - 237,697 Consumer 83,486 1,485 403 - 85,374 State and political subdivisions 49,009 - - - 49,009 Total performing (accruing) loans 894,421 2,761 578 - 897,760 Non-accrual loans: Residential real estate 642 39 - 417 1,098 Commercial real estate 1,484 - - 1,754 3,238 Construction, land acquisition and development - - - - - Commercial and industrial 614 - 124 - 738 Consumer 114 132 96 165 507 State and political subdivisions - - - - - Total non-accrual loans 2,854 171 220 2,336 5,581 Total loans receivable $ 897,275 $ 2,932 $ 798 $ 2,336 $ 903,341 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 $ 185,871 $ 134 $ 261 $ - $ 186,266 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 118,267 1,695 489 - 120,451 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 17 228 479 1,597 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 38 324 648 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, December 31, 2020 2019 $100 not not 450. $100 450 December 31, 2020 2019 , respectively. December 31, 2020 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 859 $ 957 $ - Commercial real estate 2,729 5,311 - Construction, land acquisition and development 69 69 - Commercial and industrial 5 5 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,662 6,342 - With a related allowance recorded: Residential real estate 1,462 1,462 13 Commercial real estate 5,719 5,719 46 Construction, land acquisition and development - - - Commercial and industrial 892 1,130 357 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 8,073 8,311 416 Total of impaired loans: Residential real estate 2,321 2,419 13 Commercial real estate 8,448 11,030 46 Construction, land acquisition and development 69 69 - Commercial and industrial 897 1,135 357 Consumer - - - State and political subdivisions - - - Total impaired loans $ 11,735 $ 14,653 $ 416 December 31, 2019 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 1,240 $ 1,329 $ - Commercial real estate 4,548 6,007 - Construction, land acquisition and development 76 76 - Commercial and industrial 593 850 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 6,457 8,262 - With a related allowance recorded: Residential real estate 1,666 1,666 10 Commercial real estate 7,092 7,811 221 Construction, land acquisition and development - - - Commercial and industrial 571 573 242 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,329 10,050 473 Total of impaired loans: Residential real estate 2,906 2,995 10 Commercial real estate 11,640 13,818 221 Construction, land acquisition and development 76 76 - Commercial and industrial 1,164 1,423 242 Consumer - - - State and political subdivisions - - - Total impaired loans $ 15,786 $ 18,312 $ 473 The following table presents the average balance of, and interest income recognized on, impaired loans summarized by loan category for the years ended December 31, 2020 2019 Year Ended December 31, 2020 2019 Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Residential real estate $ 2,542 $ 78 $ 2,400 $ 95 Commercial real estate 10,111 254 10,092 297 Construction, land acquisition and development 72 5 79 5 Commercial and industrial 1,041 14 1,207 1 Consumer - - - - State and political subdivisions - - - - Total impaired loans $ 13,766 $ 351 $ 13,778 $ 398 ( 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 $0.4 million for both years ended December 31, 2020 2019 . Troubled Debt Restructured Loans TDRs at December 31, 2020 2019 , December 31, 2020 December 31, 2019 . December 31, 2020 2019 not December 31, 2020 2019 The modification of the terms of loans classified as TDRs may one The following tables present the pre- and post-modification recorded investment in loans modified as TDRs and type of modifications made during the years ended December 31, 2020 2019: Year Ended December 31, 2020 Pre-Modification Outstanding Recorded Investment by Type of Modification (in thousands) Number of Contracts Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Post-Modification Outstanding Recorded Investment Loan category: Residential real estate 1 $ 93 $ - $ - $ - $ 93 $ 93 Commercial real estate - - - - - - - Construction, land acquisition and development - - - - - - - Commercial and industrial 3 - - 196 196 196 Consumer - - - - - - - State and political subdivisions - - - - - - - Total modifications 4 $ 93 $ - $ - $ 196 $ 289 $ 289 Year Ended December 31, 2019 Pre-Modification Outstanding Recorded Investment by Type of Modification (dollars in thousands) Number of Contracts Extension of Term Extension of Term and Capitalization of Taxes Extension of Term and Forbearance Forbearance Total Post-Modification Outstanding Recorded Investment Loan category: Residential real estate 4 $ 24 $ - $ 42 $ 208 $ 274 $ 289 Commercial real estate 2 432 178 - - 610 644 Construction, land acquisition and development - - - - - - - Commercial and industrial 4 933 - - - 933 932 Consumer - - - - - - - State and political subdivisions - - - - - - - Total modifications 10 $ 1,389 $ 178 $ 42 $ 208 $ 1,817 $ 1,865 There were no 12 December 31, 2020 2019 Modifications Related to COVID- 19 In late March 2020, 19. 4013 19 December 31, 2019 not December 31, 2020. three second 19 December 31, 2020, The following table presents information on COVID- 19 December 31, 2020. As of December 31, 2020 Total Loans Modified Total Number of Loans Still Under Deferral (in thousands) Number of Loans Recorded Investment % of Loan Category Number of Loans Recorded Investment % of Loan Category COVID-19 related loan modifications: Residential real estate 199 $ 17,594 8.96 % 5 $ 196 0.10 % Commercial real estate 146 94,586 34.53 % 6 8,617 3.15 % Construction, land acquisition and development 11 11,019 18.43 % - - - Commercial and industrial 106 21,659 9.08 % 1 42 0.02 % Consumer 381 6,587 7.67 % 33 677 0.79 % State and political subdivision - - - - - - Total 843 $ 151,445 16.76 % 45 9,532 1.06 % Residential Real Estate Loan Foreclosures There was one December 31, 2020. no December 31, 2020. There was one December 31, 2019. two December 31, 2019. 2019. December 31, 2019 2020. |
Note 6 - Bank Premises and Equi
Note 6 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6. The following table summarizes bank premises and equipment at December 31, 2020 2019 December 31, (in thousands) 2020 2019 Land $ 3,537 $ 3,537 Buildings and improvements 13,708 12,798 Furniture, fixtures and equipment 12,114 11,551 Leasehold improvements 3,654 3,578 Total 33,013 31,464 Accumulated depreciation (15,434 ) (13,946 ) Net $ 17,579 $ 17,518 Depreciation and amortization expense of premises and equipment amounted to $1.6 million and $1.4 million for the years ended December 31, 2020 2019, |
Note 7 - Deposits
Note 7 - Deposits | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 7. The following table summarizes deposits by major category at December 31, 2020 2019 December 31, (in thousands) 2020 2019 Demand (non-interest bearing) $ 271,499 $ 179,465 Interest-bearing: Interest-bearing demand 713,398 534,677 Savings 109,664 94,530 Time ($250,000 and over) 36,216 48,425 Other time 156,671 144,612 Total interest-bearing 1,015,949 822,244 Total deposits $ 1,287,448 $ 1,001,709 The aggregate amount of deposits reclassified as loans was $86 thousand at December 31, 2020 December 31, 2019 . 2020 2019 no The following table summarizes scheduled maturities of time deposits, including certificates of deposit and individual retirement accounts, at December 31, 2020 : $250,000 Other (in thousands) and Over Time Deposits Total 2021 33,161 132,717 165,878 2022 3,055 13,315 16,370 2023 - 3,940 3,940 2024 - 3,753 3,753 2025 - 2,946 2,946 2026 and thereafter - - - Total $ 36,216 $ 156,671 $ 192,887 Investment securities with a carrying value of $279.7 million and $235.0 million at December 31, 2020 2019 December 31, 2020 2019 |
Note 8 - Borrowed Funds
Note 8 - Borrowed Funds | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8. Short-term borrowings available to FNCB include overnight advances through the Federal Home Loan Bank of Pittsburgh ("FHLB") advances, federal funds lines of credit and the Federal Reserve Discount Window, which generally represent overnight or less than 30 December 31, 2020. FNCB has an agreement with the FHLB 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 stock based upon the amount of credit extended. Loans that were pledged to collateralize borrowings under this agreement were $500.1 million at December 31, 2020 December 31, 2019. December 31, 2020. December 31, 2020 no December 31, 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 $31.5 million under the Federal Reserve Bank’s Borrower-in-Custody (“BIC”) program. There were no December 31, 2020 December 31, 2019. December 31, 2020. On April 9, 2020 December 31, 2020, As of and for the Year Ended December 31, 2020 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ - $ 5,501 $ 35,125 1.24 % - FHLB of Pittsburgh advances - term - 26,354 52,809 1.54 % - Federal funds - 26 - 0.76 % - Federal reserve discount window BIC advances - 437 10,000 0.25 % - Federal reserve discount window PPPLF advances - 8,659 36,272 0.35 % - Junior subordinated debentures 10,310 10,310 10,310 2.43 % 1.89 % As of and for the Year Ended December 31, 2019 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ 14,100 $ 14,971 $ 59,825 2.58 % 1.80 % FHLB of Pittsburgh advances - term 32,809 37,831 65,171 2.26 % 1.86 % Federal funds - 8 - - - Federal reserve discount window BIC advances - - - - - Subordinated debentures - 520 5,000 4.50 % - Junior subordinated debentures 10,310 10,310 10,310 4.17 % 3.56 % On December 14, 2006, December 15, 2036. 100.0% Issuing Trust. The proceeds from the issue were invested in $10.3 million, 7.02% Junior Subordinated Debentures (the “Debentures”) issued by FNCB. The interest rate on the Trust Securities and the Debentures resets quarterly at a spread of 1.67% above the current 3 2020 2019 twenty December 15, 2011. December 31, 2020 2019 December 31, 2020 2019 December 31, 2020 2019 On September 1, 2009, September 1, 2019 ( July 1, 2015, first third June 30, 2015, July 1, 2015. At December 31, 2018, there was $5.0 million in principal outstanding on the Notes. O January 30, 2019, September 1, 2019, December 1, 2018 February 7, 2019, February 8, 2019. The following table presents maturities of borrowed funds and the weighted-average rate by contractual maturity date at December 31, 2020 : December 31, 2020 Weighted Average (in thousands) Amount Interest Rate 2021 $ - - 2022 - - 2023 - - 2024 - - 2025 - - 2026 and thereafter 10,310 1.89 % Total $ 10,310 1.89 % |
Note 9 - Derivative and Hedging
Note 9 - Derivative and Hedging Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 9. 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 unknown 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 payments primarily 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 the next twelve Non-designated Hedges Derivatives not not third not 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 December 31, 2020 December 31, 2019. Derivative Assets Derivative Liabilities As of December 31, 2020 As of December 31, 2019 As of December 31, 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 $ 120 Other liabilities $ - Total derivatives designated as hedging instruments - - 120 - Derivatives not designated as hedging instruments Interest Rate Products 2,750 Other assets 23 Other assets - 2,750 Other liabilities 23 Other liabilities - Total derivatives not designated as hedging instruments 23 - 23 - Cash and other collateral (1) - - - - Net derivative amounts $ 23 $ - $ 143 $ - (1) Other collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consist of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above. There were no December 31, 2019 December 31, 2019. E ffect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Incom The table below presents the effect of fair value and cash flow hedge accounting on accumulated other comprehensive income as of December 31, 2020. not Year Ended December 31, 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 $ (102 ) $ (102 ) $ - Interest expense $ 11 $ 11 $ - Total $ (102 ) $ (102 ) $ - $ 11 $ 11 $ - Effect of Fair Value and Cash Flow Hedge Accounting on the Statement of Income The table below presents the effect of the FNCB's derivative financial instruments on the consolidated statements of income for the year ended December 31,2020. Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Year Ended December 31, 2020 (in thousands) 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 $ 11 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 $ 11 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 $ 11 Amount of gain or (loss) reclassified from accumulated OCI into income - excluded component $ - Effect of Derivatives Not Derivative financial instruments that are not no December 31, 2020. 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 its derivative obligations. FNCB has agreements with certain of its derivatives 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 December 31, 2020, December 31, 2020, not December 31, 2020, $135 |
Note 10 - Benefit Plans
Note 10 - Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 10 The Bank has a defined contribution profit sharing plan (“Profit Sharing Plan”) which includes the provision under section 401 “401 401 may no 2020 2019 401 2020 2019 The Bank has an unfunded non-qualified deferred compensation plan covering all eligible Bank officers and directors as defined by the plan. This plan permits eligible participants to elect to defer a portion of their compensation. Elective deferred compensation and accrued earnings, included in other liabilities in the accompanying consolidated statements of financial condition, aggregated $2.0 December 31, 2020 December 31, 2019 The Bank has a Supplemental Executive Retirement Plan (“SERP”) for a select group of management or highly compensated employees within the meaning of Sections 201 2 301 3 401 1 1974. 2020 2019 December 31, 2020 December 31, 2019 . |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 11. The following table summarizes the current and deferred amounts of the provision for income tax expense (benefit) for each of the two December 31, 2020 2019 For the Year Ended December 31, (in thousands) 2020 2019 Current $ 6 $ - Deferred 3,219 2,326 Income tax expense $ 3,225 $ 2,326 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 years ended December 31, 2020 December 31, 2019 For the Year Ended December 31, 2020 2019 (dollars in thousands) Amount % Amount % Provision at statutory tax rates $ 3,900 21.00 % $ 2,814 21.00 % Add (deduct): Tax effects of tax free interest income (632 ) (3.40 )% (344 ) (2.56 )% Non-deductible interest expense 46 0.25 % 19 0.14 % Bank-owned life insurance (101 ) (0.55 )% (109 ) (0.81 )% Other items, net 12 0.06 % (54 ) (0.41 )% Income tax provision $ 3,225 17.36 % $ 2,326 17.36 % The following table summarizes the components of net deferred tax assets at December 31, 2020 2019 December 31, (in thousands) 2020 2019 Allowance for loan and lease losses $ 2,638 $ 2,027 Deferred compensation 641 592 Lease liability 752 729 Other real estate owned valuation 23 33 Deferred intangible assets 45 166 Employee benefits 210 192 Accrued interest 2 - Accrued vacation 56 42 Deferred income 51 - Depreciation 13 10 Derivative liabilities 24 - Net operating loss carryover 418 4,348 Gross deferred tax assets 4,873 8,139 Deferred loan origination costs (173 ) (143 ) Unrealized holding gains on securities available-for-sale (3,715 ) (812 ) Unrealized holding gains on equity securities (118 ) - Right of use asset (686 ) (660 ) Deferred income - (22 ) Accrued interest - (224 ) Gross deferred tax liabilities (4,692 ) (1,861 ) Net deferred tax assets $ 181 $ 6,278 At December 31, 2020 $2.0 million in federal net operating loss ("NOL") carryovers, which expire in 2035 not December 31, 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 In evaluating available evidence, management considers, among other factors, historical financial performance, expectation of future earnings, the ability to carry back losses to recoup taxes previously paid, length of statutory carry forward periods, experience with operating loss and tax credit carry forwards not not not December 31, 2020 , |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 12. 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 years ended December 31, 2020 2019 For the Year Ended December 31, (in thousands) 2020 2019 Balance January 1, $ 77,896 $ 64,634 Additions, new loans and advances 79,325 93,871 Repayments (58,286 ) (80,609 ) Balance December 31, $ 98,935 $ 77,896 At December 31, 2020 2019 no not Deposits from directors, executive officers and their related parties held by the Bank at December 31, 2020 2019 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 2.0 million and $2.4 million in 2020 2019 |
Note 13 - Commitments, Continge
Note 13 - Commitments, Contingencies and Concentrations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 13. 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 its 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 borrowings 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. ROU assets and lease liabilities were $3.3 million and $3.6 million, respectively, at December 31, 2020 December 31, 2019. Operating lease expense associated with bank branches and office space is included in occupancy expense, while operating lease expense associated with automobiles and office equipment are included in equipment expense in the consolidated statements of income. Total rental expense under leases amounted to $408 thousand and $418 thousand, respectively, at December 31, 2020 2019. The following table summarizes the maturity of remaining operating lease liabilities as of December 31, 2020: (in thousands) December 31, 2020 2021 $ 375 2022 372 2023 364 2024 330 2025 335 2026 and thereafter 2,742 Total lease payments 4,518 Less: imputed interest 937 Present value of operating lease liabilities $ 3,581 The following table presents other information related to FNCB's operating leases: (dollars in thousands) December 31, 2020 December 31, 2019 Weighted-average remaining lease term (in years) 13.3 14.3 Weighted-average discount rate 3.25 % 3.45 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 395 $ 385 Financial Instruments with off-balance sheet commitments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit that involve varying degrees of credit, interest rate or liquidity risk in excess of the amount recognized in the balance sheet. FNCB ’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. Financial instruments whose contract amounts represent credit risk at December 31, 2020 2019 December 31, (in thousands) 2020 2019 Commitments to extend credit $ 227,908 $ 275,891 Standby letters of credit 18,914 15,081 In order to provide for probable losses inherent in these instruments, FNCB recorded reserves for unfunded commitments of $613 thousand and $703 thousand at December 31, 2020 2019 Commitments to extend credit are agreements to lend to customers in accordance with contractual provisions. These commitments usually are for specific periods or contain termination clauses and may not Letters of credit and financial guarantees are agreements whereby FNCB guarantees the performance of a customer to a third may ’s evaluation of the creditworthiness of each customer. The credit exposure assumed in issuing letters of credit is essentially equal to that in other lending activities. Federal Home Loan Bank — Mortgage Partnership Finance (“MPF”) Program Under a secondary market loan servicing program with the FHLB, FNCB, in exchange for a monthly fee, provides a credit enhancement guarantee to the FHLB for foreclosure losses in excess of a defined First Loss Account (“FLA”) balance, up to specified amounts. At December 31, 2020 first December 31, 2020 . no December 31, 2020 2019 Concentrations of Credit Risk Cash Concentrations: The Bank maintains cash balances at several correspondent banks. FNCB engages in a primary correspondent banking relationship with Compass Bank. At December 31, 2020 2019 no $250 December 31, 2020 2019 . Loan Concentrations: FNCB attempts to limit its exposure to concentrations of credit risk by diversifying its loan portfolio and closely monitoring any concentrations of credit risk. The commercial real estate and construction, land acquisition and development portfolios comprise $333.7 million, or 36.9% of gross loans at December 31, 2020 . Northeastern Pennsylvania December 31, 2020 . FNCB considers an industry concentration within the loan portfolio to exist if the aggregate loan balance outstanding for that industry exceeds 25.0% ’s loan portfolio by industry at December 31, 2020 2019 December 31, 2020 December 31, 2019 % of % of (in thousands) Amount Gross Loans Amount Gross Loans Retail space/shopping centers $ 43,926 4.86 % $ 43,865 5.31 % 1-4 family residential investment properties 58,114 6.43 % 38,122 4.61 % 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 14 - Stock Compensation Pl
Note 14 - Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 14. FNCB has a Long-Term Incentive Compensation Plan (“LTIP”) for directors, executive officers 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. The Board of Directors granted awards, comprised solely of shares of restricted stock, to executives and certain key employees under the terms of the LTIP of 75,924 shares in 2020 2019 The following table summarizes the activity related to FNCB ’s unvested restricted stock awards during the years ended December 31, 2020 2019 . For the Years Ended December 31, 2020 2019 Weighted- Weighted- Average Average Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Unvested restricted stock awards at January 1, 128,150 $ 7.76 114,702 $ 7.50 Awards granted 75,924 6.07 57,684 7.64 Forfeitures (5,741 ) 6.64 (6,678 ) 7.61 Vestings (38,420 ) 7.48 (37,558 ) 6.80 Unvested restricted stock awards at December 31, 159,913 $ 7.07 128,150 $ 7.76 For the years ended December 31, 2020 2019 2020 2019 December 31, 2020 2019 On July 1, 2020 2019, ten 2020 2020. 2020 2019 July 1, 2020 2019 December 31, 2020 2019. December 31, 2020, |
Note 15 - Regulatory Matters_Su
Note 15 - Regulatory Matters/Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 15. On January 28, 2019, February 8, 2019, first 2019, FNCB’s ability to pay dividends to its shareholders, or repurchase shares of its common stock, is largely dependent on the Bank’s ability to pay dividends to FNCB. Bank regulations limit the amount of dividends that may may 2020 2019 December 31, 2020 2019 December 31, 2020 2019 December 31, 2020 , January 27, 2021, March 15, 2021 March 1, 2021 On January 27, 2021, may no February 3, 2021 December 31, 2021 10b5 1 1934, Under the program shares will be purchased from time to time at prevailing market prices, through open market transactions depending upon market conditions and administered through an independent broker. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the trading plan. Under the program, the purchases will be funded from available working capital presently available to FNCB, and the repurchased shares will be returned to the status of authorized but unissued shares of Common Stock. There is not may no December 31, 2020 Current quantitative measures established by regulation to ensure capital adequacy require FNCB Bank to maintain minimum amounts and ratios (set forth in the table 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 December 31, 2020 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 December 31, 2020 Total capital (to risk-weighted assets) $ 149,173 15.79 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 137,356 14.54 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 137,356 14.54 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 137,356 9.57 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 944,546 Total average assets 1,434,776 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 16 - Fair Value Measuremen
Note 16 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 16. 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 A financial asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is broken down into three ● Level 1 valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets; ● Level 2 r instruments traded in markets that are not ● Level 3 ologies including discounted cash flow models and similar techniques that use significant assumptions not A description of the valuation methodologies used for assets recorded at fair value, and for estimating fair value of financial instruments not 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 December 31, 2020 , eighteen ten eighteen December 31, 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 are measured at fair value on a recurring basis at December 31, 2020 2019 Fair Value Measurements at December 31, 2020 Quoted Prices Significant Significant 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 $ 205,828 $ - $ 205,828 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 56,972 - 56,972 - Collateralized mortgage obligations - commercial 3,904 - 3,904 - Mortgage-backed securities 13,026 - 13,026 - Private collateralized mortgage obligations 38,199 - 38,199 - Corporate debt securities 24,580 - 8,156 16,424 Asset-backed securities 7,526 - 7,526 - Total available-for-sale debt securities 350,035 - 333,612 16,424 Equity securities, at fair value 3,026 3,026 - - Derivative assets 23 - 23 - Total financial assets $ 353,084 $ 3,026 $ 333,635 $ 16,424 Financial liabilities: Derivative liabilities $ 143 $ - $ 143 $ - Total financial liabilities $ 143 $ - $ 143 $ - Fair Value Measurements at December 31, 2019 Quoted Prices Significant Significant 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 $ 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 - Total available-for-sale debt securities 272,839 - 267,689 5,150 Equity Securities, at fair value 920 920 - - Total financial assets $ 273,759 $ 920 $ 267,689 $ 5,150 FNCB did not December 31, 2019. no December 31, 2020 2019 The following table presents a reconciliation and statement of operations classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3 December 31, 2020 2019 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Corporate Debt Securities For the Year Ended December 31, (in thousands) 2020 2019 Balance at January 1, $ 5,150 $ 3,929 Additions 11,800 1,000 Redemptions (1,015 ) - Sales - - Total gains or losses (realized/unrealized): Included in earnings 15 - Included in other comprehensive income 474 221 Balance at December 31, $ 16,424 $ 5,150 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 December 31, 2020 2019 3 December 31, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 4,244 $ 218 $ 4,026 Appraisal of collateral Selling costs 10.0% Impaired loans - other 7,491 198 7,293 Discounted cash flows Discount rate 3.00% - 8.75 % Other real estate owned 58 - 58 Appraisal of collateral Selling costs 10.0% 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 costs 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 costs 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 at December 31, 2020 2019 not not not may Fair Value December 31, 2020 December 31, 2019 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and short term investments Level 1 $ 155,811 $ 155,811 $ 34,565 $ 34,565 Available-for-sale debt securities See previous table 350,035 350,035 272,839 272,839 Equity securities Level 1 3,026 3,026 920 920 Restricted stock Level 2 1,745 1,745 3,804 3,804 Loans held for sale Level 2 2,107 2,107 1,061 1,061 Loans, net Level 3 889,152 891,880 819,529 810,074 Accrued interest receivable Level 2 4,286 4,286 3,234 3,234 Equity securities without readily determinable fair values Level 3 500 500 1,658 1,658 Servicing rights Level 3 324 479 356 790 Derivative assets Level 2 23 23 - - Financial liabilities: Deposits Level 2 1,287,448 1,288,567 1,001,709 1,001,829 Borrowed funds Level 2 10,310 10,310 57,219 57,234 Accrued interest payable Level 2 108 108 258 258 Derivative liabilities Level 2 135 143 - - |
Note 17 - Earnings Per Share
Note 17 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 17. 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. December 31, 2020 2019 The following table presents the calculation of both basic and diluted earnings per share of common stock for the years ended December 31, 2020 2019 For the Year Ended December 31, (in thousands, except share data) 2020 2019 Net income $ 15,347 $ 11,075 Basic weighted-average number of common stock outstanding 20,210,439 19,802,095 Plus: common share equivalents 1,747 5,497 Diluted weighted-average number of common stock outstanding 20,212,187 19,807,592 Income per share of common stock: Basic $ 0.76 $ 0.56 Diluted $ 0.76 $ 0.56 |
Note 18 - Other Comprehensive I
Note 18 - Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 18. The following tables summarize the reclassifications out of accumulated other comprehensive income for the years ended December 31, 2020 2019 For the year Ended December 31, 2020 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (1,528 ) Net gain on the sale of available-for-sale securities Taxes 321 Income taxes Net of tax amount $ (1,207 ) For the year Ended December 31, 2019 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (1,227 ) Net gain on the sale of available-for-sale securities Taxes 258 Income taxes Net of tax amount $ (969 ) The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax, for the years ended December 31, 2020 2019 For the Year Ended December 31, (in thousands) 2020 2019 Balance, January 1, $ 3,056 $ (4,540 ) Other comprehensive income before reclassifications 12,037 8,565 Amounts reclassified from accumulated other comprehensive income (1,207 ) (969 ) Net other comprehensive income during the period 10,830 7,596 Balance, December 31, $ 13,886 $ 3,056 |
Note 19 - Condensed Financial I
Note 19 - Condensed Financial Information - Parent Company Only | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 19. — PARENT COMPANY ONLY The following tables present condensed parent company only financial information: Condensed Statements of Financial Condition December 31, (in thousands) 2020 2019 Assets: Cash $ 11,296 $ 10,343 Investment in statutory trust 425 418 Investment in subsidiary (equity method) 151,700 131,194 Equity securities, at fair value 2,093 - Other assets 726 2,019 Total assets $ 166,240 $ 143,974 Liabilities and Shareholders’ Equity: Junior subordinated debentures $ 10,310 $ 10,310 Accrued interest payable 9 16 Other liabilities 61 41 Total liabilities 10,380 10,367 Shareholders’ equity 155,860 133,607 Total liabilities and shareholders’ equity $ 166,240 $ 143,974 Condensed Statements of Income For the Year Ended December 31, (in thousands) 2020 2019 Income: Dividends from subsidiaries $ 10,000 $ 10,000 Interest and dividend income 75 77 Gain on equity securities 1,158 - Trust income 8 13 Total income 11,241 10,090 Expense: Interest on subordinated notes - 24 Interest on junior subordinated debt 251 430 Other operating expenses 312 275 Total expenses 563 729 Income before income taxes 10,679 9,361 Provision for income taxes 6 - Income before equity in undistributed net income of subsidiary 10,673 9,361 Equity in undistributed net income of subsidiary 4,675 1,714 Net income $ 15,347 $ 11,075 Condensed Statements of Cash Flows For the Year Ended December 31, (in thousands) 2020 2019 Cash flows from operating activities: Net income $ 15,347 $ 11,075 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiary (4,675 ) (1,714 ) Equity in trust (8 ) (13 ) Gain on equity securities (1,158 ) - Decrease in accrued interest payable (7 ) (22 ) Decrease in other assets 621 467 Increase in other liabilities 20 12 Net cash provided by operating activities 10,140 9,805 Cash flows from investing activities: Investment in Subsidiary (5,000 ) (17,750 ) Proceeds from the sale/transfer of equity securities 1,223 - Purchases of equity securities (500 ) - Purchase of equity security without a readily determinable fair value (500 ) - Net cash used in investing activities (4,777 ) (17,750 ) Cash flows from financing activities: Principal reduction on subordinated debentures - (5,000 ) Proceeds from issuance of common shares 37 21,342 Cash dividends paid (4,447 ) (4,030 ) Net cash (used in) provided by financing activities (4,410 ) 12,312 Net increase in cash 953 4,367 Cash at beginning of year 10,343 5,976 Cash at end of year $ 11,296 $ 10,343 |
Note 20 - Selected Quarterly Fi
Note 20 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 20 2020 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 11,144 $ 11,190 $ 11,302 $ 12,702 Interest expense 1,967 1,610 1,456 1,127 Net interest income 9,177 9,580 9,846 11,575 Provision (credit) for loan and lease losses 1,151 831 74 (115 ) Net interest income after provision (credit) for loan and lease losses 8,026 8,749 9,772 11,690 Non-interest income 1,694 2,501 2,970 2,085 Non-interest expense 7,205 6,424 7,843 7,443 Income before income taxes 2,515 4,826 4,899 6,332 Income tax expense 452 805 792 1,176 Net income $ 2,063 $ 4,021 $ 4,107 $ 5,156 Earnings per share: Basic $ 0.10 $ 0.20 $ 0.20 $ 0.26 Diluted $ 0.10 $ 0.20 $ 0.20 $ 0.26 2019 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 11,609 $ 11,462 $ 11,506 $ 11,479 Interest expense 2,663 2,508 2,455 2,170 Net interest income 8,946 8,954 9,051 9,309 (Credit) provision for loan and lease losses (154 ) 347 637 (33 ) Net interest income after (credit) provision for loan and lease losses 9,100 8,607 8,414 9,342 Non-interest income 1,515 1,578 1,831 2,696 Non-interest expense 7,425 7,122 7,329 7,806 Income before income taxes 3,190 3,063 2,916 4,232 Income tax expense 555 514 513 744 Net income $ 2,635 $ 2,549 $ 2,403 $ 3,488 Earnings per share: Basic $ 0.14 $ 0.13 $ 0.12 $ 0.17 Diluted $ 0.14 $ 0.13 $ 0.12 $ 0.17 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements of FNCB are comprised of the accounts of FNCB Bancorp, Inc., and its wholly-owned subsidiary, FNCB Bank, as well as the Bank’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The accounting and reporting policies of FNCB conform to accounting principles generally accepted in the United States of America (“GAAP”), Regulation S- X 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. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents For purposes of reporting cash flows, cash equivalents include cash on hand and amounts due from banks. |
Marketable Securities, Policy [Policy Text Block] | Securities Debt Securities and Equity Securities with Readily Determinable Fair Values FNCB classifies its investments in debt securities as either held-to-maturity or available-for-sale at the time of purchase. Debt securities that are classified as held-to-maturity are carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities that are classified as available-for-sale are carried at fair value with unrealized holding gains and losses recognized as a component of shareholders’ equity in accumulated other comprehensive income (loss), net of tax. Premiums on callable debt securities are amortized to the earliest call date. Amortization of premiums and accretion of discounts on noncallable debt securities is recognized over the life of the related security as an adjustment to yield using the interest method. Realized gains and losses on sales of debt securities are based on amortized cost using the specific identification method on the trade date. All of FNCB's debt securities were classified as available-for-sale at December 31, 2020 2019 Equity securities with readily determinable fair values are reported at fair value with net unrealized gains and losses recognized in the consolidated statements of income. Fair values for debt securities and equity securities with readily determinable fair values are based upon quoted market prices, where available. If quoted market prices are not Restricted Securities Investments in restricted securities have limited marketability, are carried at cost and are evaluated for impairment based on FNCB’s determination of the ultimate recoverability of the par value of the stock. FNCB’s investment in restricted securities is comprised of stock in the Federal Home Loan Bank of Pittsburgh and Atlantic Community Bankers Bank. Equity Securities without Readily Determinable Fair Value Equity securities without readily determinable fair values generally consist of common and/or preferred stock of privately held financial institutions, which are carried at cost and included in other assets in the consolidated statements of financial condition. On a quarterly basis, management performs a qualitative assessment to determine if the securities are impaired. If the qualitative assessment indicates impairment, the security is written down to its fair value, with the charge for impairment included in net income. Evaluation for Other Than Temporary Impairment On a quarterly basis, management evaluates all securities in an unrealized loss position for other than temporary impairment (“OTTI”). An individual security is considered impaired when its current fair value is less than its amortized cost basis. As part of its evaluation, management considers the following factors, among other things, in determining whether the security’s impairment is other than temporary: ● the length of time and extent of the impairment; ● the causes of the decline in fair value, such as credit deterioration, interest rate fluctuations, or market volatility; ● adverse industry or geographic conditions; ● historical implied volatility; ● payment structure of the security and whether FNCB expects to receive all contractual cash flows; ● failure of the issuer to make contractual interest or principal payments in the past; and ● changes in the security’s rating. Based on current authoritative guidance, when a held-to-maturity or available-for-sale security is assessed for OTTI, management must first not one not two not |
Financing Receivable [Policy Text Block] | Loans and Loan Origination Fees and Costs Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balance, net of unamortized deferred loan fees and costs, any unearned income and partial charge-offs. Loans receivable are presented net of the allowance for loan and lease losses in the consolidated statements of financial condition. Interest income on all loans is recognized using the effective interest method. Nonrefundable loan origination fees, as well as certain direct loan origination costs, are deferred and the net amount amortized over the contractual life of the related loan as an adjustment to yield using the effective interest method. Amortization of deferred loan fees or costs is discontinued when a loan is placed on non-accrual status. Loans are placed on non-accrual status when a loan is specifically determined to be impaired or when management believes that the collection of interest or principal is doubtful. This generally occurs when a default of interest or principal has existed for 90 days or more, unless the loan is well secured and in the process of collection, or when management becomes aware of facts or circumstances that the loan would default before 90 first six no In accordance with federal regulations, prior to making, extending, renewing or advancing additional funds in excess of $ 500 third may |
Troubled Debt Restructuring [Policy Text Block] | Troubled Debt Restructurings FNCB considers a loan to be a troubled debt restructuring (“TDR”) when it grants a concession to the borrower for legal or economic reasons related to the borrower’s financial difficulties that it would not six |
Impaired Financing Receivable, Policy [Policy Text Block] | Loan Impairment A loan is considered impaired when it is probable that FNCB will be unable to collect all amounts due (including principal and interest) according to the contractual terms of the note and loan agreement. For purposes of the analysis, all TDRs, loan relationships with an aggregate outstanding balance greater than $100 not may Generally, all loans with balances of $100 thousand or less are considered within homogeneous pools and are not Impaired loans, or portions thereof, are charged-off upon determination that all or a portion of the loan balance is uncollectible and exceeds the fair value of the collateral. A loan is considered uncollectible when the borrower is delinquent with respect to principal or interest repayment and it is unlikely that the borrower will have the ability to pay the debt in a timely manner, collateral value is insufficient to cover the outstanding indebtedness and the guarantors (if applicable) do not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan and Lease Losses Management evaluates the credit quality of FNCB’s loan portfolio on an ongoing basis and performs a formal review of the adequacy of the ALLL on a quarterly basis. The ALLL is established through a provision for loan losses charged to earnings and is maintained at a level that management considers adequate to absorb estimated probable losses inherent in the loan portfolio as of the evaluation date. Loans, or portions of loans, determined by management to be uncollectible are charged off against the ALLL, while recoveries of amounts previously charged off are credited to the ALLL. Determining the amount of the ALLL is considered a critical accounting estimate because it requires significant judgment and the use of estimates related to the amount and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience, qualitative factors, and consideration of current economic trends and conditions, all of which may may FNCB's allowance methodology consists primarily of two $100 may may not When establishing the ALLL, management categorizes loans into the following loan segments that are based generally on the nature of the collateral and basis of repayment. The risk characteristics of FNCB’s loan segments are as follows: Construction, Land Acquisition and Development Loans one four not 65%. 85% Commercial Real Estate Loans not not 25 85%. Commercial and Industrial Loans - may State and Political Subdivision Loans Residential Real Estate Loans 1 4 first 80% 80% may 90% 15 Consumer Loans |
Liability for Off-balance-sheet Credit Related Financial Instruments, Policy [Policy Text Block] | Off-Balance-Sheet Credit-Related Financial Instruments FNCB is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments include commitments to extend credit, unused portions of lines of credit, including revolving HELOCs, and letters of credit. FNCB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument is represented by the contractual notional amount of these instruments. FNCB uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In order to provide for probable losses inherent in these instruments, FNCB records a reserve for unfunded commitments, included in other liabilities on the consolidated statements of financial condition, with the offsetting expense recorded in other operating expenses in the consolidated statements of income. |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities, Loan Sales and Servicing Mortgage loans originated and held for sale are carried at the lower of aggregate cost or fair value determined on an individual loan basis. Net unrealized losses are recorded as a valuation allowance and charged to earnings. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold and include the value assigned to the rights to service the loan. FNCB may Servicing rights are recorded at fair value upon sale of the loan and reported in other assets on the consolidated statements of financial condition. Servicing rights are amortized in proportion to and over the period during which estimated servicing income will be received. Fair value is based on market prices for comparable servicing contracts, when available, or alternately, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing rights are evaluated for impairment at each reporting date based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranche. If management later determines that all or a portion of the impairment no may |
Other Real Estate Owned, Policy [Policy Text Block] | Other Real Estate Owned OREO consists of property acquired by foreclosure, abandonment or conveyance of deed in-lieu of foreclosure of a loan, and bank premises that are no no may |
Property, Plant and Equipment, Policy [Policy Text Block] | Bank Premises and Equipment Land is stated at cost. Bank premises, equipment and leasehold improvements are stated at cost less accumulated depreciation. Costs for routine maintenance and repairs are expensed as incurred, while significant expenditures for improvements are capitalized. Depreciation expense is computed generally using the straight-line method over the following ranges of estimated useful lives, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Buildings and improvements (years) 5 to 40 Furniture, fixtures and equipment (years) 3 to 20 Leasehold improvements (years) 3 to 35 |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-lived Assets Intangible assets and bank premises and equipment are reviewed by management at least annually for potential impairment and whenever events or circumstances indicate that carrying amounts may not |
Income Tax, Policy [Policy Text Block] | Income Taxes FNCB recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than- not not FNCB files a consolidated f not no 2017. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than- not not not 50% x December 31, 2020 2019 |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Earnings per share is calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per share reflect additional shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation FNCB recognizes all share-based payments for compensation in the consolidated statements of income based on their fair values on the grant date. The fair value of shares of unrestricted and restricted stock and awarded under the Long Term Incentive Compensation Plan (“LTIP”) is determined using an average of the high and low prices for FNCB’s common stock for the 10 |
Bank Owned Life Insurance, Policy [Policy Text Block] | Bank-Owned Life Insurance Bank-owned life insurance (“BOLI”) represents the cash surrender value of life insurance policies on certain current and former directors and officers of FNCB. FNCB purchased the insurance as a tax-deferred investment and future source of funding for liabilities, including the payment of employee benefits such as health care. BOLI is carried in the consolidated statements of financial condition at its cash surrender value. Increases in the cash value of the policies, as well as proceeds received, are recorded in non-interest income. Under some of these policies, the beneficiaries receive a portion of the death benefit. The net present value of the future death benefits scheduled to be paid to the beneficiaries was $116 thousand and $113 thousand at December 31, 2020 2019 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurement FNCB uses fair value measurements to record fair value adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale debt securities and derivative contracts are recorded at fair value on a recurring basis. Additionally, from time to time, FNCB may Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not Accounting standards define fair value, establish a framework for measuring fair value, establish a three The three ● Level 1 ● Level 2 not ● Level 3 not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition FNCB recognizes revenues as they are earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. FNCB's primary source of revenue is interest income from the Bank's loans and investment securities, which is recognized on the accrual basis primarily on terms in written contracts such as loan agreements or securities contracts. FNCB also earns non-interest income from various banking services offered by the Bank as follows: ● Deposit service charges - include general service fees for monthly account maintenance, account analysis fees, non-sufficient funds fees, wire transfer fees and other deposit account related fees. Revenue is recognized when FNCB’s performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for service charges on deposit accounts is received immediately or in the following month through a direct charge to customers’ accounts. Also included in deposit service charges is income from ATM surcharges and debit card services income. ATM surcharges are generated when an FNCB cardholder uses an ATM that is not ● Net gains on the sale of other real estate owned - FNCB records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When FNCB finances the sale of OREO to the buyer, FNCB assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, FNCB adjusts the transaction prices and related gain (loss) on sale if a significant financing component is present. ● Loan referral fees/interest rate swap revenue - Loan referral fees represent fees FNCB receives from a third not no ● Other income – primarily includes wealth management fee income, merchant services fee income and title insurance revenue. Wealth management fee income represents fees received from a third third no |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the statement of financial condition, such items, along with net income, are components of comprehensive income. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Authoritative Accounting Guidance Accounting Standards Update (“ASU”) 2020 04, 848 2020 04 January 7, 2021, 2021 01, 848 2020 04 not 2021 01 848. 2021 01 may not Accounting Guidance to be Adopted in Future Periods 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 ASU 2020 01 321 323 815 321 321; 321 2020 01 December 15, 2020 December 15, 2021 January 1, 2022 not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment Useful Life [Table Text Block] | Buildings and improvements (years) 5 to 40 Furniture, fixtures and equipment (years) 3 to 20 Leasehold improvements (years) 3 to 35 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 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 $ 192,851 $ 13,012 $ 35 $ 205,828 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 54,091 2,940 59 56,972 Collateralized mortgage obligations - commercial 3,721 183 - 3,904 Mortgage-backed securities 12,452 588 14 13,026 Private collateralized mortgage obligations 37,926 352 79 38,199 Corporate debt securities 23,800 790 10 24,580 Asset-backed securities 7,505 46 25 7,526 Negotiable certificates of deposit - - - - Total available-for-sale debt securities $ 332,346 $ 17,911 $ 222 $ 350,035 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] | December 31, 2020 Available-for-Sale Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ 4,663 $ 4,718 After one year through five years 61,851 66,433 After five years through ten years 44,805 47,397 After ten years 105,332 111,860 Asset-backed securities 7,505 7,526 Collateralized mortgage obligations 95,738 99,075 Mortgage-backed securities 12,452 13,026 Total $ 332,346 $ 350,035 |
Gain (Loss) on Securities [Table Text Block] | Year Ended December 31, (in thousands) 2020 2019 Available-for-sale debt securities: Gross proceeds received on sales $ 68,256 $ 128,233 Gross proceeds received on redemption 1,015 - Gross realized gains on sales 1,686 1,257 Gross realized losses on sales (173 ) (30 ) Gross realized gain on redemption 15 - Year Ended December 31, (in thousands) 2020 2019 Net gain recognized on equity securities $ 1,171 $ 29 Less: net gains recognized on equity securities sold/acquired 611 - Unrealized gain recognized on equity securities held $ 560 $ 29 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 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 6 $ 4,541 $ 35 - $ - $ - 6 $ 4,541 $ 35 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 7,019 59 - - - 2 7,019 59 Collateralized mortgage obligations - commercial - - - - - - - - - Mortgage-backed securities 1 2,103 14 - - - 1 2,103 14 Private collateralized mortgage obligations 3 7,857 42 1 2,256 37 4 10,113 79 Corporate debt securities 2 1,739 10 - - - 2 1,739 10 Asset-backed securities 2 746 13 1 1,591 12 3 2,337 25 Total 16 $ 24,005 $ 173 2 $ 3,847 $ 49 18 $ 27,852 $ 222 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 21 $ 61,748 $ 506 - $ - $ - 21 $ 61,748 $ 506 |
Investment [Table Text Block] | December 31, (in thousands) 2020 2019 Stock in Federal Home Loan Bank of Pittsburgh $ 1,735 $ 3,794 Stock in Atlantic Community Bankers Bank 10 10 Total restricted securities, at cost $ 1,745 $ 3,804 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, (in thousands) 2020 2019 Residential real estate $ 196,328 $ 187,863 Commercial real estate 273,903 278,379 Construction, land acquisition and development 59,785 47,484 Commercial and industrial 238,435 147,623 Consumer 85,881 121,099 State and political subdivisions 49,009 43,908 Total loans, gross 903,341 826,356 Unearned income (110 ) (69 ) Net deferred loan (fees) costs (2,129 ) 2,192 Allowance for loan and lease losses (11,950 ) (8,950 ) Loans, net $ 889,152 $ 819,529 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Allowance for Loan and Lease Losses by Loan Category December 31, 2020 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Charge-offs - (336 ) - (254 ) (975 ) - - (1,565 ) Recoveries 43 846 - 1,220 515 - - 2,624 Provisions (credits) 525 560 267 (344 ) 121 152 660 1,941 Ending balance, December 31, 2020 $ 1,715 $ 4,268 $ 538 $ 2,619 $ 1,319 $ 405 $ 1,086 $ 11,950 Specific reserve $ 13 $ 46 $ - $ 357 $ - $ - $ - $ 416 General reserve $ 1,702 $ 4,222 $ 538 $ 2,262 $ 1,319 $ 405 $ 1,086 $ 11,534 Loans receivable: Individually evaluated for impairment $ 2,321 $ 8,448 $ 69 $ 897 $ - $ - $ - $ 11,735 Collectively evaluated for impairment 194,007 265,455 59,716 237,538 85,881 49,009 - 891,606 Total loans, gross at December 31, 2020 $ 196,328 $ 273,903 $ 59,785 $ 238,435 $ 85,881 $ 49,009 $ - $ 903,341 Allowance for Loan and Lease Losses by Loan Category December 31, 2019 (in thousands) Residential Real Estate Commercial Real Estate Construction, Land Acquisition and Development Commercial and Industrial Consumer State and Political Subdivisions Unallocated Total 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 ) (1,258 ) (1,311 ) - - (2,614 ) Recoveries 9 32 82 364 761 - - 1,248 Provisions (credits) (10 ) 59 19 339 157 (164 ) 397 797 Ending balance, December 31, 2019 $ 1,147 $ 3,198 $ 271 $ 1,997 $ 1,658 $ 253 $ 426 $ 8,950 Specific reserve $ 10 $ 221 $ - $ 242 $ - $ - $ - $ 473 General reserve $ 1,137 $ 2,977 $ 271 $ 1,755 $ 1,658 $ 253 $ 426 $ 8,477 Loans receivable: Individually evaluated for impairment $ 2,906 $ 11,640 $ 76 $ 1,164 $ - $ - $ - $ 15,786 Collectively evaluated for impairment 184,957 266,739 47,408 146,459 121,099 43,908 - 810,570 Total loans, gross at December 31, 2019 $ 187,863 $ 278,379 $ 47,484 $ 147,623 $ 121,099 $ 43,908 $ - $ 826,356 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators December 31, 2020 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 35,839 $ 494 $ 209 $ - $ - $ 36,542 $ 158,896 $ 890 $ 159,786 $ 196,328 Commercial real estate 256,390 4,349 13,164 - - 273,903 - - - 273,903 Construction, land acquisition and development 55,697 - - - - 55,697 4,088 - 4,088 59,785 Commercial and industrial 233,370 961 1,104 - - 235,435 3,000 - 3,000 238,435 Consumer - - - - - - 85,374 507 85,881 85,881 State and political subdivisions 48,998 - - - - 48,998 11 - 11 49,009 Total $ 630,294 $ 5,804 $ 14,477 $ - $ - $ 650,575 $ 251,369 $ 1,397 $ 252,766 $ 903,341 Credit Quality Indicators December 31, 2019 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 35,330 $ 177 $ 307 $ - $ - $ 35,814 $ 150,715 $ 1,334 $ 152,049 $ 187,863 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 - - - - - - 120,451 648 121,099 121,099 State and political subdivisions 43,908 - - - - 43,908 - - - 43,908 Total $ 532,300 $ 2,271 $ 12,390 $ - $ - $ 546,960 $ 277,413 $ 1,982 $ 279,395 $ 826,356 |
Financing Receivable, Past Due [Table Text Block] | December 31, 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 $ 194,820 $ 251 $ 159 $ - $ 195,230 Commercial real estate 270,059 606 - - 270,665 Construction, land acquisition and development 59,785 - - - 59,785 Commercial and industrial 237,262 419 16 - 237,697 Consumer 83,486 1,485 403 - 85,374 State and political subdivisions 49,009 - - - 49,009 Total performing (accruing) loans 894,421 2,761 578 - 897,760 Non-accrual loans: Residential real estate 642 39 - 417 1,098 Commercial real estate 1,484 - - 1,754 3,238 Construction, land acquisition and development - - - - - Commercial and industrial 614 - 124 - 738 Consumer 114 132 96 165 507 State and political subdivisions - - - - - Total non-accrual loans 2,854 171 220 2,336 5,581 Total loans receivable $ 897,275 $ 2,932 $ 798 $ 2,336 $ 903,341 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 $ 185,871 $ 134 $ 261 $ - $ 186,266 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 118,267 1,695 489 - 120,451 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 17 228 479 1,597 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 38 324 648 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] | December 31, 2020 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 859 $ 957 $ - Commercial real estate 2,729 5,311 - Construction, land acquisition and development 69 69 - Commercial and industrial 5 5 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 3,662 6,342 - With a related allowance recorded: Residential real estate 1,462 1,462 13 Commercial real estate 5,719 5,719 46 Construction, land acquisition and development - - - Commercial and industrial 892 1,130 357 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 8,073 8,311 416 Total of impaired loans: Residential real estate 2,321 2,419 13 Commercial real estate 8,448 11,030 46 Construction, land acquisition and development 69 69 - Commercial and industrial 897 1,135 357 Consumer - - - State and political subdivisions - - - Total impaired loans $ 11,735 $ 14,653 $ 416 December 31, 2019 Recorded Unpaid Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Residential real estate $ 1,240 $ 1,329 $ - Commercial real estate 4,548 6,007 - Construction, land acquisition and development 76 76 - Commercial and industrial 593 850 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 6,457 8,262 - With a related allowance recorded: Residential real estate 1,666 1,666 10 Commercial real estate 7,092 7,811 221 Construction, land acquisition and development - - - Commercial and industrial 571 573 242 Consumer - - - State and political subdivisions - - - Total impaired loans with a related allowance recorded 9,329 10,050 473 Total of impaired loans: Residential real estate 2,906 2,995 10 Commercial real estate 11,640 13,818 221 Construction, land acquisition and development 76 76 - Commercial and industrial 1,164 1,423 242 Consumer - - - 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] | Year Ended December 31, 2020 2019 Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Residential real estate $ 2,542 $ 78 $ 2,400 $ 95 Commercial real estate 10,111 254 10,092 297 Construction, land acquisition and development 72 5 79 5 Commercial and industrial 1,041 14 1,207 1 Consumer - - - - State and political subdivisions - - - - Total impaired loans $ 13,766 $ 351 $ 13,778 $ 398 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Year Ended December 31, 2020 Pre-Modification Outstanding Recorded Investment by Type of Modification (in thousands) Number of Contracts Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Post-Modification Outstanding Recorded Investment Loan category: Residential real estate 1 $ 93 $ - $ - $ - $ 93 $ 93 Commercial real estate - - - - - - - Construction, land acquisition and development - - - - - - - Commercial and industrial 3 - - 196 196 196 Consumer - - - - - - - State and political subdivisions - - - - - - - Total modifications 4 $ 93 $ - $ - $ 196 $ 289 $ 289 Year Ended December 31, 2019 Pre-Modification Outstanding Recorded Investment by Type of Modification (dollars in thousands) Number of Contracts Extension of Term Extension of Term and Capitalization of Taxes Extension of Term and Forbearance Forbearance Total Post-Modification Outstanding Recorded Investment Loan category: Residential real estate 4 $ 24 $ - $ 42 $ 208 $ 274 $ 289 Commercial real estate 2 432 178 - - 610 644 Construction, land acquisition and development - - - - - - - Commercial and industrial 4 933 - - - 933 932 Consumer - - - - - - - State and political subdivisions - - - - - - - Total modifications 10 $ 1,389 $ 178 $ 42 $ 208 $ 1,817 $ 1,865 |
Loan Modifications Related to COVID-19 [Table Text Block] | As of December 31, 2020 Total Loans Modified Total Number of Loans Still Under Deferral (in thousands) Number of Loans Recorded Investment % of Loan Category Number of Loans Recorded Investment % of Loan Category COVID-19 related loan modifications: Residential real estate 199 $ 17,594 8.96 % 5 $ 196 0.10 % Commercial real estate 146 94,586 34.53 % 6 8,617 3.15 % Construction, land acquisition and development 11 11,019 18.43 % - - - Commercial and industrial 106 21,659 9.08 % 1 42 0.02 % Consumer 381 6,587 7.67 % 33 677 0.79 % State and political subdivision - - - - - - Total 843 $ 151,445 16.76 % 45 9,532 1.06 % |
Note 6 - Bank Premises and Eq_2
Note 6 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Property Plant and Equipment Components [Table Text Block] | December 31, (in thousands) 2020 2019 Land $ 3,537 $ 3,537 Buildings and improvements 13,708 12,798 Furniture, fixtures and equipment 12,114 11,551 Leasehold improvements 3,654 3,578 Total 33,013 31,464 Accumulated depreciation (15,434 ) (13,946 ) Net $ 17,579 $ 17,518 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | December 31, (in thousands) 2020 2019 Demand (non-interest bearing) $ 271,499 $ 179,465 Interest-bearing: Interest-bearing demand 713,398 534,677 Savings 109,664 94,530 Time ($250,000 and over) 36,216 48,425 Other time 156,671 144,612 Total interest-bearing 1,015,949 822,244 Total deposits $ 1,287,448 $ 1,001,709 |
Schedule of Maturities of Time Deposits [Table Text Block] | $250,000 Other (in thousands) and Over Time Deposits Total 2021 33,161 132,717 165,878 2022 3,055 13,315 16,370 2023 - 3,940 3,940 2024 - 3,753 3,753 2025 - 2,946 2,946 2026 and thereafter - - - Total $ 36,216 $ 156,671 $ 192,887 |
Note 8 - Borrowed Funds (Tables
Note 8 - Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of and for the Year Ended December 31, 2020 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ - $ 5,501 $ 35,125 1.24 % - FHLB of Pittsburgh advances - term - 26,354 52,809 1.54 % - Federal funds - 26 - 0.76 % - Federal reserve discount window BIC advances - 437 10,000 0.25 % - Federal reserve discount window PPPLF advances - 8,659 36,272 0.35 % - Junior subordinated debentures 10,310 10,310 10,310 2.43 % 1.89 % As of and for the Year Ended December 31, 2019 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at (dollars in thousands) Balance Balance Balance the Year Period End FHLB of Pittsburgh advances - overnight $ 14,100 $ 14,971 $ 59,825 2.58 % 1.80 % FHLB of Pittsburgh advances - term 32,809 37,831 65,171 2.26 % 1.86 % Federal funds - 8 - - - Federal reserve discount window BIC advances - - - - - Subordinated debentures - 520 5,000 4.50 % - Junior subordinated debentures 10,310 10,310 10,310 4.17 % 3.56 % |
Schedule of Maturities of Long-term Debt [Table Text Block] | December 31, 2020 Weighted Average (in thousands) Amount Interest Rate 2021 $ - - 2022 - - 2023 - - 2024 - - 2025 - - 2026 and thereafter 10,310 1.89 % Total $ 10,310 1.89 % |
Note 9 - Derivative and Hedgi_2
Note 9 - Derivative and Hedging Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Derivative Assets Derivative Liabilities As of December 31, 2020 As of December 31, 2019 As of December 31, 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 $ 120 Other liabilities $ - Total derivatives designated as hedging instruments - - 120 - Derivatives not designated as hedging instruments Interest Rate Products 2,750 Other assets 23 Other assets - 2,750 Other liabilities 23 Other liabilities - Total derivatives not designated as hedging instruments 23 - 23 - Cash and other collateral (1) - - - - Net derivative amounts $ 23 $ - $ 143 $ - (1) Other collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consist of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above. |
Derivative Instruments, Gain (Loss) [Table Text Block] | Year Ended December 31, 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 $ (102 ) $ (102 ) $ - Interest expense $ 11 $ 11 $ - Total $ (102 ) $ (102 ) $ - $ 11 $ 11 $ - |
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 Year Ended December 31, 2020 (in thousands) 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 $ 11 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 $ 11 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 $ 11 Amount of gain or (loss) reclassified from accumulated OCI into income - excluded component $ - |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Year Ended December 31, (in thousands) 2020 2019 Current $ 6 $ - Deferred 3,219 2,326 Income tax expense $ 3,225 $ 2,326 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Year Ended December 31, 2020 2019 (dollars in thousands) Amount % Amount % Provision at statutory tax rates $ 3,900 21.00 % $ 2,814 21.00 % Add (deduct): Tax effects of tax free interest income (632 ) (3.40 )% (344 ) (2.56 )% Non-deductible interest expense 46 0.25 % 19 0.14 % Bank-owned life insurance (101 ) (0.55 )% (109 ) (0.81 )% Other items, net 12 0.06 % (54 ) (0.41 )% Income tax provision $ 3,225 17.36 % $ 2,326 17.36 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (in thousands) 2020 2019 Allowance for loan and lease losses $ 2,638 $ 2,027 Deferred compensation 641 592 Lease liability 752 729 Other real estate owned valuation 23 33 Deferred intangible assets 45 166 Employee benefits 210 192 Accrued interest 2 - Accrued vacation 56 42 Deferred income 51 - Depreciation 13 10 Derivative liabilities 24 - Net operating loss carryover 418 4,348 Gross deferred tax assets 4,873 8,139 Deferred loan origination costs (173 ) (143 ) Unrealized holding gains on securities available-for-sale (3,715 ) (812 ) Unrealized holding gains on equity securities (118 ) - Right of use asset (686 ) (660 ) Deferred income - (22 ) Accrued interest - (224 ) Gross deferred tax liabilities (4,692 ) (1,861 ) Net deferred tax assets $ 181 $ 6,278 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | For the Year Ended December 31, (in thousands) 2020 2019 Balance January 1, $ 77,896 $ 64,634 Additions, new loans and advances 79,325 93,871 Repayments (58,286 ) (80,609 ) Balance December 31, $ 98,935 $ 77,896 |
Note 13 - Commitments, Contin_2
Note 13 - Commitments, Contingencies and Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (in thousands) December 31, 2020 2021 $ 375 2022 372 2023 364 2024 330 2025 335 2026 and thereafter 2,742 Total lease payments 4,518 Less: imputed interest 937 Present value of operating lease liabilities $ 3,581 |
Lease, Other Information Related to Operating Leases [Table Text Block] | (dollars in thousands) December 31, 2020 December 31, 2019 Weighted-average remaining lease term (in years) 13.3 14.3 Weighted-average discount rate 3.25 % 3.45 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 395 $ 385 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | December 31, (in thousands) 2020 2019 Commitments to extend credit $ 227,908 $ 275,891 Standby letters of credit 18,914 15,081 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | December 31, 2020 December 31, 2019 % of % of (in thousands) Amount Gross Loans Amount Gross Loans Retail space/shopping centers $ 43,926 4.86 % $ 43,865 5.31 % 1-4 family residential investment properties 58,114 6.43 % 38,122 4.61 % |
Note 14 - Stock Compensation _2
Note 14 - Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | For the Years Ended December 31, 2020 2019 Weighted- Weighted- Average Average Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Unvested restricted stock awards at January 1, 128,150 $ 7.76 114,702 $ 7.50 Awards granted 75,924 6.07 57,684 7.64 Forfeitures (5,741 ) 6.64 (6,678 ) 7.61 Vestings (38,420 ) 7.48 (37,558 ) 6.80 Unvested restricted stock awards at December 31, 159,913 $ 7.07 128,150 $ 7.76 |
Note 15 - Regulatory Matters__2
Note 15 - Regulatory Matters/Subsequent Events (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2020 Total capital (to risk-weighted assets) $ 149,173 15.79 % 8.00 % 10.50 % 10.00 % Tier I capital (to risk-weighted assets) 137,356 14.54 % 6.00 % 8.50 % 8.00 % Tier I common equity (to risk-weighted assets) 137,356 14.54 % 4.50 % 7.00 % 6.50 % Tier I capital (to average assets) 137,356 9.57 % 4.00 % 4.00 % 5.00 % Total risk-weighted assets 944,546 Total average assets 1,434,776 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 16 - Fair Value Measurem_2
Note 16 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2020 Quoted Prices Significant Significant 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 $ 205,828 $ - $ 205,828 $ - U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 56,972 - 56,972 - Collateralized mortgage obligations - commercial 3,904 - 3,904 - Mortgage-backed securities 13,026 - 13,026 - Private collateralized mortgage obligations 38,199 - 38,199 - Corporate debt securities 24,580 - 8,156 16,424 Asset-backed securities 7,526 - 7,526 - Total available-for-sale debt securities 350,035 - 333,612 16,424 Equity securities, at fair value 3,026 3,026 - - Derivative assets 23 - 23 - Total financial assets $ 353,084 $ 3,026 $ 333,635 $ 16,424 Financial liabilities: Derivative liabilities $ 143 $ - $ 143 $ - Total financial liabilities $ 143 $ - $ 143 $ - Fair Value Measurements at December 31, 2019 Quoted Prices Significant Significant 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 $ 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 - Total available-for-sale debt securities 272,839 - 267,689 5,150 Equity Securities, at fair value 920 920 - - Total financial assets $ 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 Year Ended December 31, (in thousands) 2020 2019 Balance at January 1, $ 5,150 $ 3,929 Additions 11,800 1,000 Redemptions (1,015 ) - Sales - - Total gains or losses (realized/unrealized): Included in earnings 15 - Included in other comprehensive income 474 221 Balance at December 31, $ 16,424 $ 5,150 |
Fair Value Measurements, Nonrecurring [Table Text Block] | December 31, 2020 Fair Value Measurement Quantitative Information Recorded Valuation Fair Valuation Unobservable Value/ (in thousands) Investment Allowance Value Technique Inputs Range Impaired loans - collateral dependent $ 4,244 $ 218 $ 4,026 Appraisal of collateral Selling costs 10.0% Impaired loans - other 7,491 198 7,293 Discounted cash flows Discount rate 3.00% - 8.75 % Other real estate owned 58 - 58 Appraisal of collateral Selling costs 10.0% 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 costs 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 costs 10.0% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value December 31, 2020 December 31, 2019 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and short term investments Level 1 $ 155,811 $ 155,811 $ 34,565 $ 34,565 Available-for-sale debt securities See previous table 350,035 350,035 272,839 272,839 Equity securities Level 1 3,026 3,026 920 920 Restricted stock Level 2 1,745 1,745 3,804 3,804 Loans held for sale Level 2 2,107 2,107 1,061 1,061 Loans, net Level 3 889,152 891,880 819,529 810,074 Accrued interest receivable Level 2 4,286 4,286 3,234 3,234 Equity securities without readily determinable fair values Level 3 500 500 1,658 1,658 Servicing rights Level 3 324 479 356 790 Derivative assets Level 2 23 23 - - Financial liabilities: Deposits Level 2 1,287,448 1,288,567 1,001,709 1,001,829 Borrowed funds Level 2 10,310 10,310 57,219 57,234 Accrued interest payable Level 2 108 108 258 258 Derivative liabilities Level 2 135 143 - - |
Note 17 - Earnings Per Share (T
Note 17 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Year Ended December 31, (in thousands, except share data) 2020 2019 Net income $ 15,347 $ 11,075 Basic weighted-average number of common stock outstanding 20,210,439 19,802,095 Plus: common share equivalents 1,747 5,497 Diluted weighted-average number of common stock outstanding 20,212,187 19,807,592 Income per share of common stock: Basic $ 0.76 $ 0.56 Diluted $ 0.76 $ 0.56 |
Note 18 - Other Comprehensive_2
Note 18 - Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the year Ended December 31, 2020 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (1,528 ) Net gain on the sale of available-for-sale securities Taxes 321 Income taxes Net of tax amount $ (1,207 ) For the year Ended December 31, 2019 Amount Reclassified from Accumulated Affected Line Item Other Comprehensive in the Consolidated (in thousands) Income (Loss) Statements of Income Available-for-sale debt securities: Reclassification adjustment for net gains reclassified into net income $ (1,227 ) Net gain on the sale of available-for-sale securities Taxes 258 Income taxes Net of tax amount $ (969 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | For the Year Ended December 31, (in thousands) 2020 2019 Balance, January 1, $ 3,056 $ (4,540 ) Other comprehensive income before reclassifications 12,037 8,565 Amounts reclassified from accumulated other comprehensive income (1,207 ) (969 ) Net other comprehensive income during the period 10,830 7,596 Balance, December 31, $ 13,886 $ 3,056 |
Note 19 - Condensed Financial_2
Note 19 - Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, (in thousands) 2020 2019 Assets: Cash $ 11,296 $ 10,343 Investment in statutory trust 425 418 Investment in subsidiary (equity method) 151,700 131,194 Equity securities, at fair value 2,093 - Other assets 726 2,019 Total assets $ 166,240 $ 143,974 Liabilities and Shareholders’ Equity: Junior subordinated debentures $ 10,310 $ 10,310 Accrued interest payable 9 16 Other liabilities 61 41 Total liabilities 10,380 10,367 Shareholders’ equity 155,860 133,607 Total liabilities and shareholders’ equity $ 166,240 $ 143,974 |
Condensed Income Statement [Table Text Block] | For the Year Ended December 31, (in thousands) 2020 2019 Income: Dividends from subsidiaries $ 10,000 $ 10,000 Interest and dividend income 75 77 Gain on equity securities 1,158 - Trust income 8 13 Total income 11,241 10,090 Expense: Interest on subordinated notes - 24 Interest on junior subordinated debt 251 430 Other operating expenses 312 275 Total expenses 563 729 Income before income taxes 10,679 9,361 Provision for income taxes 6 - Income before equity in undistributed net income of subsidiary 10,673 9,361 Equity in undistributed net income of subsidiary 4,675 1,714 Net income $ 15,347 $ 11,075 |
Condensed Cash Flow Statement [Table Text Block] | For the Year Ended December 31, (in thousands) 2020 2019 Cash flows from operating activities: Net income $ 15,347 $ 11,075 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiary (4,675 ) (1,714 ) Equity in trust (8 ) (13 ) Gain on equity securities (1,158 ) - Decrease in accrued interest payable (7 ) (22 ) Decrease in other assets 621 467 Increase in other liabilities 20 12 Net cash provided by operating activities 10,140 9,805 Cash flows from investing activities: Investment in Subsidiary (5,000 ) (17,750 ) Proceeds from the sale/transfer of equity securities 1,223 - Purchases of equity securities (500 ) - Purchase of equity security without a readily determinable fair value (500 ) - Net cash used in investing activities (4,777 ) (17,750 ) Cash flows from financing activities: Principal reduction on subordinated debentures - (5,000 ) Proceeds from issuance of common shares 37 21,342 Cash dividends paid (4,447 ) (4,030 ) Net cash (used in) provided by financing activities (4,410 ) 12,312 Net increase in cash 953 4,367 Cash at beginning of year 10,343 5,976 Cash at end of year $ 11,296 $ 10,343 |
Note 20 - Selected Quarterly _2
Note 20 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2020 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 11,144 $ 11,190 $ 11,302 $ 12,702 Interest expense 1,967 1,610 1,456 1,127 Net interest income 9,177 9,580 9,846 11,575 Provision (credit) for loan and lease losses 1,151 831 74 (115 ) Net interest income after provision (credit) for loan and lease losses 8,026 8,749 9,772 11,690 Non-interest income 1,694 2,501 2,970 2,085 Non-interest expense 7,205 6,424 7,843 7,443 Income before income taxes 2,515 4,826 4,899 6,332 Income tax expense 452 805 792 1,176 Net income $ 2,063 $ 4,021 $ 4,107 $ 5,156 Earnings per share: Basic $ 0.10 $ 0.20 $ 0.20 $ 0.26 Diluted $ 0.10 $ 0.20 $ 0.20 $ 0.26 2019 Quarter Ended (in thousands, except share data) March 31, June 30, September 30, December 31, Interest income $ 11,609 $ 11,462 $ 11,506 $ 11,479 Interest expense 2,663 2,508 2,455 2,170 Net interest income 8,946 8,954 9,051 9,309 (Credit) provision for loan and lease losses (154 ) 347 637 (33 ) Net interest income after (credit) provision for loan and lease losses 9,100 8,607 8,414 9,342 Non-interest income 1,515 1,578 1,831 2,696 Non-interest expense 7,425 7,122 7,329 7,806 Income before income taxes 3,190 3,063 2,916 4,232 Income tax expense 555 514 513 744 Net income $ 2,635 $ 2,549 $ 2,403 $ 3,488 Earnings per share: Basic $ 0.14 $ 0.13 $ 0.12 $ 0.17 Diluted $ 0.14 $ 0.13 $ 0.12 $ 0.17 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans Still Classified as Non-accrual Status, Period of Past Due (Day) | 90 days | |
Financing Receivable Performance Period Under Loan Terms for Reclassification from Non-accrual Status (Month) | 6 months | |
Outstanding Loans Balances That Are Considered to Be Within Homogeneous Pools and Not Individually Evaluated for Impairment, Maximum | $ 100 | |
Minimum Balance of Impaired Loan Relationships That Are Individually Evaluated for Impairment | 100 | |
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 |
Other Liabilities [Member] | Guaranteed Minimum Death Benefit [Member] | ||
Net Amount at Risk by Product and Guarantee, Net Amount at Risk | $ 116 | $ 113 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Building and Building Improvements [Member] | Minimum [Member] | |
Buildings and improvements (Year) | 5 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Buildings and improvements (Year) | 40 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Buildings and improvements (Year) | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Buildings and improvements (Year) | 20 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Buildings and improvements (Year) | 3 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Buildings and improvements (Year) | 35 years |
Note 3 - Restricted Cash Bala_2
Note 3 - Restricted Cash Balances (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2020 | |
Average Reserves Maintained with Federal Reserve Bank | $ 1.6 | |
Compensating Balances Maintained at Correspondent Banks | $ 1.2 | $ 4.5 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ / shares in Units, $ in Thousands | Sep. 15, 2020USD ($)$ / sharesshares | Jul. 01, 2020USD ($)$ / sharesshares | Dec. 31, 2020USD ($) | Dec. 31, 2017USD ($)$ / shares | Dec. 29, 2020USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($)shares |
Number of Non-government Securities of Any Individual Issuer Exceeding 10 Percent of Shareholders' Equity | 0 | 0 | |||||
Other than Temporary Impairment Losses, Investments, Total | $ 0 | ||||||
Equity Securities, FV-NI, Cost | 2,500 | $ 1,000 | |||||
Equity Securities, FV-NI | $ 3,026 | 920 | |||||
Mutual Fund [Member] | |||||||
Equity Securities, FV-NI, Cost | $ 1,000 | ||||||
Merger Agreement [Member] | |||||||
Equity Securities Without Readily Determinable Fair Value, Cash Received Due to Investee Merger | $ 1,200 | ||||||
Business Combination, Number of Shares For Which Cash Received (in shares) | shares | 74,113 | ||||||
Business Combination, Shares Converted into the Surviving Company's Common Stock (in shares) | shares | 126,887 | ||||||
Other Assets [Member] | |||||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 1,700 | ||||||
Equity Security Without Readily Determinable Fair Value [Member] | |||||||
Equity Securities without Readily Determinable Fair Value, Shares (in shares) | shares | 201,000 | ||||||
Share Price (in dollars per share) | $ / shares | $ 8.25 | ||||||
Payments to Acquire Other Investments | $ 1,700 | ||||||
Equity Securities Without Readily Determinable Fair Value, Cash Received Due to Investee Merger | $ 1,600 | ||||||
Equity Securities without Readily Determinable Fair Value, Cost of Share Sold or Transferred | 611 | ||||||
Equity Securities, without Readily Determinable Fair Value, Realized Gain (Loss) | 611 | ||||||
Equity Securities without Readily Determinable Fair Value, Merger Agreement, Cost of Shares Converted | $ 1,000 | ||||||
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, Shares Received Due to Investee Merger, Fair Value Per Share (in dollars per share) | $ / shares | $ 19.90 | ||||||
Equity Securities, without Readily Determinable Fair Value, Unrealized Gain (Loss) | $ 522 | ||||||
Preferred Stock [Member] | |||||||
Equity Securities, FV-NI, Number of Shares Purchased (in shares) | shares | 20,000 | ||||||
Equity Securities, FV-NI, Price Per Share (in dollars per share) | $ / shares | $ 25 | ||||||
Equity Securities, FV-NI, Cost | $ 500 | ||||||
Equity Securities, FV-NI, Dividend Rate | 7.50% | ||||||
Preferred Stock of Privately-held Bank Holding Company [Member] | |||||||
Equity Securities without Readily Determinable Fair Value, Shares (in shares) | shares | 20,000 | ||||||
Equity Securities without Readily Determinable Fair Value, Price Per Share (in dollars per share) | $ / shares | $ 25 | ||||||
Equity Securities without Readily Determinable Fair Value, Dividend Rate | 8.25% | ||||||
Preferred Stock of Privately-held Bank Holding Company [Member] | Other Assets [Member] | |||||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 500 |
Note 4 - Securities - Available
Note 4 - Securities - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities, amortized cost | $ 332,346 | $ 268,971 |
Available-for-sale debt securities, gross unrealized holding gains | 17,911 | 4,374 |
Available-for-sale debt securities, gross unrealized holding losses | 222 | 506 |
Available-for-sale debt securities, at fair value | 350,035 | 272,839 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 192,851 | 115,428 |
Available-for-sale debt securities, gross unrealized holding gains | 13,012 | 2,694 |
Available-for-sale debt securities, gross unrealized holding losses | 35 | 359 |
Available-for-sale debt securities, at fair value | 205,828 | 117,763 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 54,091 | 79,606 |
Available-for-sale debt securities, gross unrealized holding gains | 2,940 | 780 |
Available-for-sale debt securities, gross unrealized holding losses | 59 | 92 |
Available-for-sale debt securities, at fair value | 56,972 | 80,294 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 3,721 | 17,414 |
Available-for-sale debt securities, gross unrealized holding gains | 183 | 320 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 11 |
Available-for-sale debt securities, at fair value | 3,904 | 17,723 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 12,452 | 18,142 |
Available-for-sale debt securities, gross unrealized holding gains | 588 | 343 |
Available-for-sale debt securities, gross unrealized holding losses | 14 | 0 |
Available-for-sale debt securities, at fair value | 13,026 | 18,485 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, amortized cost | 37,926 | 25,069 |
Available-for-sale debt securities, gross unrealized holding gains | 352 | 49 |
Available-for-sale debt securities, gross unrealized holding losses | 79 | 43 |
Available-for-sale debt securities, at fair value | 38,199 | 25,075 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 23,800 | 7,000 |
Available-for-sale debt securities, gross unrealized holding gains | 790 | 182 |
Available-for-sale debt securities, gross unrealized holding losses | 10 | 0 |
Available-for-sale debt securities, at fair value | 24,580 | 7,182 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, amortized cost | 7,505 | 5,618 |
Available-for-sale debt securities, gross unrealized holding gains | 46 | 4 |
Available-for-sale debt securities, gross unrealized holding losses | 25 | 1 |
Available-for-sale debt securities, at fair value | 7,526 | 5,621 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, amortized cost | 0 | 694 |
Available-for-sale debt securities, gross unrealized holding gains | 0 | 2 |
Available-for-sale debt securities, gross unrealized holding losses | 0 | 0 |
Available-for-sale debt securities, at fair value | $ 0 | $ 696 |
Note 4 - Securities - Availab_2
Note 4 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
One year or less, amortized cost | $ 4,663 | |
One year or less, fair value | 4,718 | |
After one year through five years, amortized cost | 61,851 | |
After one year through five years, fair value | 66,433 | |
After five years through ten years, amortized cost | 44,805 | |
After five years through ten years, fair value | 47,397 | |
After ten years, amortized cost | 105,332 | |
After ten years, fair value | 111,860 | |
Available-for-sale debt securities, amortized cost | 332,346 | $ 268,971 |
Available-for-sale debt securities, at fair value | 350,035 | 272,839 |
Asset-backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 7,505 | |
Securities without a single maturity, fair value | 7,526 | |
Available-for-sale debt securities, amortized cost | 7,505 | 5,618 |
Available-for-sale debt securities, at fair value | 7,526 | 5,621 |
Collateralized Mortgage Obligations [Member] | ||
Securities without a single maturity, amortized cost | 95,738 | |
Securities without a single maturity, fair value | 99,075 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities without a single maturity, amortized cost | 12,452 | |
Securities without a single maturity, fair value | 13,026 | |
Available-for-sale debt securities, amortized cost | 12,452 | 18,142 |
Available-for-sale debt securities, at fair value | $ 13,026 | $ 18,485 |
Note 4 - Securities - Gross Pro
Note 4 - Securities - Gross Proceeds Received and Realized Gain (Loss) on Sale of Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Gross proceeds received on sales | $ 68,256 | $ 128,233 |
Gross proceeds received on redemption | 1,015 | 0 |
Gross realized gains on sales | 1,686 | 1,257 |
Gross realized losses on sales | (173) | (30) |
Gross realized gain on redemption | 15 | 0 |
Net gain recognized on equity securities | 1,171 | 29 |
Less: net gains recognized on equity securities sold/acquired | 611 | 0 |
Unrealized gain recognized on equity securities held | $ 560 | $ 29 |
Note 4 - Securities - Availab_3
Note 4 - Securities - Available-for-sale Debt Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Less than 12 months, number of securities | 16 | 21 |
Less than 12 months, fair value | $ 24,005 | $ 61,748 |
Less than 12 months, gross unrealized losses | $ 173 | $ 506 |
12 months or longer, number of securities | 2 | 0 |
12 months or longer, fair value | $ 3,847 | $ 0 |
12 months or longer, gross unrealized losses | $ 49 | $ 0 |
Total, number of securities | 18 | 21 |
Total, fair value | $ 27,852 | $ 61,748 |
Total, gross unrealized losses | $ 222 | $ 506 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, number of securities | 6 | 10 |
Less than 12 months, fair value | $ 4,541 | $ 19,436 |
Less than 12 months, gross unrealized losses | $ 35 | $ 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 | 6 | 10 |
Total, fair value | $ 4,541 | $ 19,436 |
Total, gross unrealized losses | $ 35 | $ 359 |
Residential Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 2 | 4 |
Less than 12 months, fair value | $ 7,019 | $ 19,934 |
Less than 12 months, gross unrealized losses | $ 59 | $ 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 | 2 | 4 |
Total, fair value | $ 7,019 | $ 19,934 |
Total, gross unrealized losses | $ 59 | $ 92 |
Commercial Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 0 | 1 |
Less than 12 months, fair value | $ 0 | $ 2,500 |
Less than 12 months, gross unrealized losses | $ 0 | $ 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 | 0 | 1 |
Total, fair value | $ 0 | $ 2,500 |
Total, gross unrealized losses | $ 0 | $ 11 |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 months, number of securities | 1 | 0 |
Less than 12 months, fair value | $ 2,103 | $ 0 |
Less than 12 months, gross unrealized losses | $ 14 | $ 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 | 1 | 0 |
Total, fair value | $ 2,103 | $ 0 |
Total, gross unrealized losses | $ 14 | $ 0 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Less than 12 months, number of securities | 3 | 4 |
Less than 12 months, fair value | $ 7,857 | $ 18,990 |
Less than 12 months, gross unrealized losses | $ 42 | $ 43 |
12 months or longer, number of securities | 1 | 0 |
12 months or longer, fair value | $ 2,256 | $ 0 |
12 months or longer, gross unrealized losses | $ 37 | $ 0 |
Total, number of securities | 4 | 4 |
Total, fair value | $ 10,113 | $ 18,990 |
Total, gross unrealized losses | $ 79 | $ 43 |
Corporate Debt Securities [Member] | ||
Less than 12 months, number of securities | 2 | 0 |
Less than 12 months, fair value | $ 1,739 | $ 0 |
Less than 12 months, gross unrealized losses | $ 10 | $ 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 | 2 | 0 |
Total, fair value | $ 1,739 | $ 0 |
Total, gross unrealized losses | $ 10 | $ 0 |
Asset-backed Securities [Member] | ||
Less than 12 months, number of securities | 2 | 2 |
Less than 12 months, fair value | $ 746 | $ 888 |
Less than 12 months, gross unrealized losses | $ 13 | $ 1 |
12 months or longer, number of securities | 1 | 0 |
12 months or longer, fair value | $ 1,591 | $ 0 |
12 months or longer, gross unrealized losses | $ 12 | $ 0 |
Total, number of securities | 3 | 2 |
Total, fair value | $ 2,337 | $ 888 |
Total, gross unrealized losses | $ 25 | $ 1 |
Negotiable Certificates of Deposit [Member] | ||
Less than 12 months, number of securities | 0 | |
Less than 12 months, fair value | $ 0 | |
Less than 12 months, gross unrealized losses | $ 0 | |
12 months or longer, number of securities | 0 | |
12 months or longer, fair value | $ 0 | |
12 months or longer, gross unrealized losses | $ 0 | |
Total, number of securities | 0 | |
Total, fair value | $ 0 | |
Total, gross unrealized losses | $ 0 |
Note 4 - Securities - Restricte
Note 4 - Securities - Restricted Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Stock in Atlantic Community Bankers Bank | $ 10 | $ 10 |
Restricted stock, at cost | 1,745 | 3,804 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Stock in Federal Home Loan Bank of Pittsburgh | $ 1,735 | $ 3,794 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Gain (Loss) on Sales of Loans, Net, Total | $ 653 | $ 253 |
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | $ 2,107 | 1,061 |
Loans Still Classified as Non-accrual Status, Period of Past Due (Day) | 90 days | |
Financing Receivable, Nonaccrual | $ 5,600 | 9,100 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | |
Evaluated Individually for Impairment, Non-accrued Loans Other Than TDRs, Threshold | 100 | |
Financing Receivable, Collectively Evaluated for Impairment | 891,606 | 810,570 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 400 | 400 |
Financing Receivable, Troubled Debt Restructuring | 7,700 | 9,100 |
Loans and Leases Receivable, Allowance, Ending Balance | 11,950 | 8,950 |
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 | 922 | |
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 843 | |
Financing Receivable, Deferred Payments, Loans Modified | $ 151,445 | |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans with Second Deferral | 79 | |
Financing Receivable, Number of Loans With Payment Deferrals, Loans with Second Deferral | $ 22,000 | |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 45 | |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 9,532 | |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 1.06% | |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Number of Loans With Payment Deferrals, Loans Modified | 199 | |
Financing Receivable, Deferred Payments, Loans Modified | $ 17,594 | |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 5 | |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 196 | |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.10% | |
Number of Real Estate Properties, Foreclosed | 1 | 1 |
Real Estate Investment Property, Foreclosed | $ 153 | $ 154 |
Number of Real Estate Properties in OREO | 0 | |
Real Estate Investment Property, Foreclosed, Subsequently Sold, Value | $ 204 | |
Real Estate Investment Property, Net, Total | $ 204 | |
Residential Portfolio Segment [Member] | Investor-owned Real Estate Loan [Member] | ||
Number of Real Estate Properties, Foreclosed | 2 | |
Real Estate Investment Property, Foreclosed | $ 256 | |
Real Estate Investment Property, Foreclosed, Subsequently Sold, Value | 52 | |
Troubled Debt Restructuring [Member] | ||
Loans and Leases Receivable, Allowance, Ending Balance | 197 | 97 |
Nonaccrual Loans [Member] | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,400 | 1,000 |
Performing Financial Instruments [Member] | ||
Financing Receivable, Troubled Debt Restructuring | 7,000 | 7,700 |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Troubled Debt Restructuring | 700 | 1,400 |
Small Business Administration [Member] | ||
Loans Sold During Period, Principal Balance | 0 | |
Loans Serviced for Others, Unpaid Principal Balance | 96,500 | 106,000 |
One- to Four-family Mortgages [Member] | ||
Recorded Investment of Mortgage Loans Sold | 13,900 | 9,600 |
Gain (Loss) on Sales of Loans, Net, Total | 653 | 253 |
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance | $ 2,100 | $ 1,100 |
Note 5 - Loans - Loans Receivab
Note 5 - Loans - Loans Receivable, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans, gross | $ 903,341 | $ 826,356 |
Unearned income | (110) | (69) |
Net deferred loan (fees) costs | (2,129) | 2,192 |
Allowance for loan and lease losses | (11,950) | (8,950) |
Loans, net | 889,152 | 819,529 |
Residential Portfolio Segment [Member] | ||
Loans, gross | 196,328 | 187,863 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans, gross | 273,903 | 278,379 |
Construction, Land Acquisition and Development [Member] | ||
Loans, gross | 59,785 | 47,484 |
Commercial and Industrial [Member] | ||
Loans, gross | 238,435 | 147,623 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 85,881 | 121,099 |
State and Political Subdivisions [Member] | ||
Loans, gross | $ 49,009 | $ 43,908 |
Note 5 - Loans - Activity in th
Note 5 - Loans - Activity in the Allowance for Loan Losses, by Loan Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | $ 8,950 | $ 9,519 | $ 8,950 | $ 9,519 | ||||||
Charge-offs | (1,565) | (2,614) | ||||||||
Recoveries | 2,624 | 1,248 | ||||||||
Provision for loan and lease losses | $ (115) | $ 74 | $ 831 | 1,151 | $ (33) | $ 637 | $ 347 | (154) | 1,941 | 797 |
Balance | 11,950 | 8,950 | 11,950 | 8,950 | ||||||
Specific reserve | 416 | 473 | 416 | 473 | ||||||
General reserve | 11,534 | 8,477 | 11,534 | 8,477 | ||||||
Individually evaluated for impairment | 11,735 | 15,786 | 11,735 | 15,786 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 891,606 | 810,570 | 891,606 | 810,570 | ||||||
Total loans, gross | 903,341 | 826,356 | 903,341 | 826,356 | ||||||
Residential Portfolio Segment [Member] | ||||||||||
Total loans, gross | 196,328 | 187,863 | 196,328 | 187,863 | ||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||||||
Balance | 1,147 | 1,175 | 1,147 | 1,175 | ||||||
Charge-offs | 0 | (27) | ||||||||
Recoveries | 43 | 9 | ||||||||
Provision for loan and lease losses | 525 | (10) | ||||||||
Balance | 1,715 | 1,147 | 1,715 | 1,147 | ||||||
Specific reserve | 13 | 10 | 13 | 10 | ||||||
General reserve | 1,702 | 1,137 | 1,702 | 1,137 | ||||||
Individually evaluated for impairment | 2,321 | 2,906 | 2,321 | 2,906 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 194,007 | 184,957 | 194,007 | 184,957 | ||||||
Total loans, gross | 196,328 | 187,863 | 196,328 | 187,863 | ||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Total loans, gross | 273,903 | 278,379 | 273,903 | 278,379 | ||||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||||||
Balance | 3,198 | 3,107 | 3,198 | 3,107 | ||||||
Charge-offs | (336) | 0 | ||||||||
Recoveries | 846 | 32 | ||||||||
Provision for loan and lease losses | 560 | 59 | ||||||||
Balance | 4,268 | 3,198 | 4,268 | 3,198 | ||||||
Specific reserve | 46 | 221 | 46 | 221 | ||||||
General reserve | 4,222 | 2,977 | 4,222 | 2,977 | ||||||
Individually evaluated for impairment | 8,448 | 11,640 | 8,448 | 11,640 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 265,455 | 266,739 | 265,455 | 266,739 | ||||||
Total loans, gross | 273,903 | 278,379 | 273,903 | 278,379 | ||||||
Construction, Land Acquisition and Development [Member] | ||||||||||
Total loans, gross | 59,785 | 47,484 | 59,785 | 47,484 | ||||||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||||||||
Balance | 271 | 188 | 271 | 188 | ||||||
Charge-offs | 0 | (18) | ||||||||
Recoveries | 0 | 82 | ||||||||
Provision for loan and lease losses | 267 | 19 | ||||||||
Balance | 538 | 271 | 538 | 271 | ||||||
Specific reserve | 0 | 0 | 0 | 0 | ||||||
General reserve | 538 | 271 | 538 | 271 | ||||||
Individually evaluated for impairment | 69 | 76 | 69 | 76 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 59,716 | 47,408 | 59,716 | 47,408 | ||||||
Total loans, gross | 59,785 | 47,484 | 59,785 | 47,484 | ||||||
Commercial and Industrial [Member] | ||||||||||
Balance | 1,997 | 2,552 | 1,997 | 2,552 | ||||||
Charge-offs | (254) | (1,258) | ||||||||
Recoveries | 1,220 | 364 | ||||||||
Provision for loan and lease losses | (344) | 339 | ||||||||
Balance | 2,619 | 1,997 | 2,619 | 1,997 | ||||||
Specific reserve | 357 | 242 | 357 | 242 | ||||||
General reserve | 2,262 | 1,755 | 2,262 | 1,755 | ||||||
Individually evaluated for impairment | 897 | 1,164 | 897 | 1,164 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 237,538 | 146,459 | 237,538 | 146,459 | ||||||
Total loans, gross | 238,435 | 147,623 | 238,435 | 147,623 | ||||||
Consumer Portfolio Segment [Member] | ||||||||||
Balance | 1,658 | 2,051 | 1,658 | 2,051 | ||||||
Charge-offs | (975) | (1,311) | ||||||||
Recoveries | 515 | 761 | ||||||||
Provision for loan and lease losses | 121 | 157 | ||||||||
Balance | 1,319 | 1,658 | 1,319 | 1,658 | ||||||
Specific reserve | 0 | 0 | 0 | 0 | ||||||
General reserve | 1,319 | 1,658 | 1,319 | 1,658 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 85,881 | 121,099 | 85,881 | 121,099 | ||||||
Total loans, gross | 85,881 | 121,099 | 85,881 | 121,099 | ||||||
State and Political Subdivisions [Member] | ||||||||||
Balance | 253 | 417 | 253 | 417 | ||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Provision for loan and lease losses | 152 | (164) | ||||||||
Balance | 405 | 253 | 405 | 253 | ||||||
Specific reserve | 0 | 0 | 0 | 0 | ||||||
General reserve | 405 | 253 | 405 | 253 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 49,009 | 43,908 | 49,009 | 43,908 | ||||||
Total loans, gross | 49,009 | 43,908 | 49,009 | 43,908 | ||||||
Unallocated Financing Receivables [Member] | ||||||||||
Balance | $ 426 | $ 29 | 426 | 29 | ||||||
Charge-offs | 0 | 0 | ||||||||
Recoveries | 0 | 0 | ||||||||
Provision for loan and lease losses | 660 | 397 | ||||||||
Balance | 1,086 | 426 | 1,086 | 426 | ||||||
Specific reserve | 0 | 0 | 0 | 0 | ||||||
General reserve | 1,086 | 426 | 1,086 | 426 | ||||||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
Financing Receivable, Collectively Evaluated for Impairment | 0 | 0 | 0 | 0 | ||||||
Total loans, gross | $ 0 | $ 0 | $ 0 | $ 0 |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans | $ 903,341 | $ 826,356 |
Commercial Loans [Member] | ||
Loans | 650,575 | 546,960 |
Accruing Loans [Member] | ||
Loans | 251,369 | 277,413 |
Nonaccrual Loans [Member] | ||
Loans | 1,397 | 1,982 |
Subtotal, Other Loans [Member] | ||
Loans | 252,766 | 279,395 |
Pass [Member] | Commercial Loans [Member] | ||
Loans | 630,294 | 532,300 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 5,804 | 2,271 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans | 14,477 | 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 | 196,328 | 187,863 |
Residential Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 36,542 | 35,814 |
Residential Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 158,896 | 150,715 |
Residential Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 890 | 1,334 |
Residential Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 159,786 | 152,049 |
Residential Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 35,839 | 35,330 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 494 | 177 |
Residential Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 209 | 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 | 273,903 | 278,379 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 273,903 | 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 | 256,390 | 266,112 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 4,349 | 1,668 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 13,164 | 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 | 59,785 | 47,484 |
Construction, Land Acquisition and Development [Member] | Commercial Loans [Member] | ||
Loans | 55,697 | 46,361 |
Construction, Land Acquisition and Development [Member] | Accruing Loans [Member] | ||
Loans | 4,088 | 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 | 4,088 | 1,123 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 55,697 | 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 | 238,435 | 147,623 |
Commercial and Industrial [Member] | Commercial Loans [Member] | ||
Loans | 235,435 | 142,499 |
Commercial and Industrial [Member] | Accruing Loans [Member] | ||
Loans | 3,000 | 5,124 |
Commercial and Industrial [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
Commercial and Industrial [Member] | Subtotal, Other Loans [Member] | ||
Loans | 3,000 | 5,124 |
Commercial and Industrial [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 233,370 | 140,589 |
Commercial and Industrial [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Loans | 961 | 426 |
Commercial and Industrial [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Loans | 1,104 | 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 | 85,881 | 121,099 |
Consumer Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Accruing Loans [Member] | ||
Loans | 85,374 | 120,451 |
Consumer Portfolio Segment [Member] | Nonaccrual Loans [Member] | ||
Loans | 507 | 648 |
Consumer Portfolio Segment [Member] | Subtotal, Other Loans [Member] | ||
Loans | 85,881 | 121,099 |
Consumer Portfolio Segment [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 0 | 0 |
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 | 49,009 | 43,908 |
State and Political Subdivisions [Member] | Commercial Loans [Member] | ||
Loans | 48,998 | 43,908 |
State and Political Subdivisions [Member] | Accruing Loans [Member] | ||
Loans | 11 | 0 |
State and Political Subdivisions [Member] | Nonaccrual Loans [Member] | ||
Loans | 0 | 0 |
State and Political Subdivisions [Member] | Subtotal, Other Loans [Member] | ||
Loans | 11 | 0 |
State and Political Subdivisions [Member] | Pass [Member] | Commercial Loans [Member] | ||
Loans | 48,998 | 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 5 - Loans - Performing and
Note 5 - Loans - Performing and Non-performing Loan Delinquency Status (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans past due | $ 903,341 | $ 826,356 |
Performing Financial Instruments [Member] | ||
Loans past due | 897,760 | 817,272 |
Nonperforming Financial Instruments [Member] | ||
Loans past due | 5,581 | 9,084 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 195,230 | 186,266 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 1,098 | 1,597 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 270,665 | 272,742 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 59,785 | 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 | 237,697 | 146,421 |
Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 738 | 1,202 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 85,374 | 120,451 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 507 | 648 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 49,009 | 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 | 3,238 | 5,637 |
Financial Asset, 1 to 29 Days Past Due [Member] | ||
Loans past due | 897,275 | 818,841 |
Financial Asset, 1 to 29 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 894,421 | 814,312 |
Financial Asset, 1 to 29 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 2,854 | 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 | 194,820 | 185,871 |
Financial Asset, 1 to 29 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 642 | 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 | 270,059 | 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 | 59,785 | 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 | 237,262 | 146,221 |
Financial Asset, 1 to 29 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 614 | 943 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 83,486 | 118,267 |
Financial Asset, 1 to 29 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 114 | 193 |
Financial Asset, 1 to 29 Days Past Due [Member] | State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 49,009 | 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 | 1,484 | 2,520 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 2,932 | 3,107 |
Financial Asset, 30 to 59 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 2,761 | 2,104 |
Financial Asset, 30 to 59 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 171 | 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 | 251 | 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 | 39 | 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 | 606 | 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 | 419 | 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 | 1,485 | 1,695 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 132 | 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 | 798 | 1,670 |
Financial Asset, 60 to 89 Days Past Due [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 578 | 856 |
Financial Asset, 60 to 89 Days Past Due [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 220 | 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 | 159 | 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 | 16 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 124 | 114 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans past due | 403 | 489 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans past due | 96 | 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 | 2,336 | 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 | 2,336 | 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 | 417 | 479 |
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 | 0 | 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 | 165 | 324 |
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 | $ 1,754 | $ 1,790 |
Note 5 - Loans - Impaired Loans
Note 5 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Recorded investment, with no allowance recorded | $ 3,662 | $ 6,457 |
Unpaid principal balance, with no allowance recorded | 6,342 | 8,262 |
Recorded investment, with a related allowance recorded | 8,073 | 9,329 |
Unpaid principal balance, with a related allowance recorded | 8,311 | 10,050 |
Related allowance | 416 | 473 |
Recorded investment | 11,735 | 15,786 |
Unpaid principal balance | 14,653 | 18,312 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 859 | 1,240 |
Unpaid principal balance, with no allowance recorded | 957 | 1,329 |
Recorded investment, with a related allowance recorded | 1,462 | 1,666 |
Unpaid principal balance, with a related allowance recorded | 1,462 | 1,666 |
Related allowance | 13 | 10 |
Recorded investment | 2,321 | 2,906 |
Unpaid principal balance | 2,419 | 2,995 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 2,729 | 4,548 |
Unpaid principal balance, with no allowance recorded | 5,311 | 6,007 |
Recorded investment, with a related allowance recorded | 5,719 | 7,092 |
Unpaid principal balance, with a related allowance recorded | 5,719 | 7,811 |
Related allowance | 46 | 221 |
Recorded investment | 8,448 | 11,640 |
Unpaid principal balance | 11,030 | 13,818 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Recorded investment, with no allowance recorded | 69 | 76 |
Unpaid principal balance, with no allowance recorded | 69 | 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 | 69 | 76 |
Unpaid principal balance | 69 | 76 |
Commercial and Industrial [Member] | ||
Recorded investment, with no allowance recorded | 5 | 593 |
Unpaid principal balance, with no allowance recorded | 5 | 850 |
Recorded investment, with a related allowance recorded | 892 | 571 |
Unpaid principal balance, with a related allowance recorded | 1,130 | 573 |
Related allowance | 357 | 242 |
Recorded investment | 897 | 1,164 |
Unpaid principal balance | 1,135 | 1,423 |
Consumer Portfolio Segment [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 |
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 5 - Loans - Average Balanc
Note 5 - Loans - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Average balance | $ 13,766 | $ 13,778 | |
Interest income | [1] | 351 | 398 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Average balance | 2,542 | 2,400 | |
Interest income | [1] | 78 | 95 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Average balance | 10,111 | 10,092 | |
Interest income | [1] | 254 | 297 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||
Average balance | 72 | 79 | |
Interest income | [1] | 5 | 5 |
Commercial and Industrial [Member] | |||
Average balance | 1,041 | 1,207 | |
Interest income | [1] | 14 | 1 |
Consumer Portfolio Segment [Member] | |||
Average balance | 0 | 0 | |
Interest income | [1] | 0 | 0 |
State and Political Subdivisions [Member] | |||
Average balance | 0 | 0 | |
Interest income | [1] | $ 0 | $ 0 |
[1] | Interest income represents income recognized on performing TDRs. |
Note 5 - Loans - Loans Modified
Note 5 - Loans - Loans Modified as TDRs (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of contracts | 4 | 10 |
Pre-modification outstanding recorded investment | $ 289 | $ 1,817 |
Post-modification outstanding recorded investment | 289 | 1,865 |
Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 93 | 1,389 |
Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 178 |
Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 42 |
Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 196 | $ 208 |
Residential Portfolio Segment [Member] | ||
Number of contracts | 1 | 4 |
Pre-modification outstanding recorded investment | $ 93 | $ 274 |
Post-modification outstanding recorded investment | 93 | 289 |
Residential Portfolio Segment [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 93 | 24 |
Residential Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 42 |
Residential Portfolio Segment [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 0 | $ 208 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of contracts | 0 | 2 |
Pre-modification outstanding recorded investment | $ 0 | $ 610 |
Post-modification outstanding recorded investment | 0 | 644 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 0 | 432 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 178 |
Commercial Real Estate Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
Construction, Land Acquisition and Development [Member] | ||
Number of contracts | 0 | 0 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
Post-modification outstanding recorded investment | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
Commercial and Industrial [Member] | ||
Number of contracts | 3 | 4 |
Pre-modification outstanding recorded investment | $ 196 | $ 933 |
Post-modification outstanding recorded investment | 196 | 932 |
Commercial and Industrial [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 933 | |
Commercial and Industrial [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Commercial and Industrial [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Commercial and Industrial [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 196 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Number of contracts | 0 | 0 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
Post-modification outstanding recorded investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
Consumer Portfolio Segment [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
State and Political Subdivisions [Member] | ||
Number of contracts | 0 | 0 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
Post-modification outstanding recorded investment | 0 | 0 |
State and Political Subdivisions [Member] | Extended Maturity [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
State and Political Subdivisions [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
State and Political Subdivisions [Member] | Capitalization of Taxes [Member] | ||
Pre-modification outstanding recorded investment | 0 | 0 |
State and Political Subdivisions [Member] | Forbearance [Member] | ||
Pre-modification outstanding recorded investment | $ 0 | $ 0 |
Note 5 - Loans - Loan Modificat
Note 5 - Loans - Loan Modifications Related to COVID-19 (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Total Loans Modified, Number of Loans | 843 |
Total Loans Modified, Recorded Investment | $ 151,445 |
Total Loans Modified, Percentage of Loan Category | 16.76% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 45 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 9,532 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 1.06% |
Residential Portfolio Segment [Member] | |
Total Loans Modified, Number of Loans | 199 |
Total Loans Modified, Recorded Investment | $ 17,594 |
Total Loans Modified, Percentage of Loan Category | 8.96% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 5 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 196 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.10% |
Commercial Real Estate Portfolio Segment [Member] | |
Total Loans Modified, Number of Loans | 146 |
Total Loans Modified, Recorded Investment | $ 94,586 |
Total Loans Modified, Percentage of Loan Category | 34.53% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 6 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 8,617 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 3.15% |
Construction, Land Acquisition and Development [Member] | |
Total Loans Modified, Number of Loans | 11 |
Total Loans Modified, Recorded Investment | $ 11,019 |
Total Loans Modified, Percentage of Loan Category | 18.43% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.00% |
Commercial and Industrial [Member] | |
Total Loans Modified, Number of Loans | 106 |
Total Loans Modified, Recorded Investment | $ 21,659 |
Total Loans Modified, Percentage of Loan Category | 9.08% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 1 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 42 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.02% |
Consumer Portfolio Segment [Member] | |
Total Loans Modified, Number of Loans | 381 |
Total Loans Modified, Recorded Investment | $ 6,587 |
Total Loans Modified, Percentage of Loan Category | 7.67% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 33 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 677 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.79% |
State and Political Subdivisions [Member] | |
Total Loans Modified, Number of Loans | 0 |
Total Loans Modified, Recorded Investment | $ 0 |
Total Loans Modified, Percentage of Loan Category | 0.00% |
Financing Receivable, Number of Loans With Payment Deferrals, Number of Loans Still Under Deferral | 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral | $ 0 |
Financing Receivable, Deferred Payments, Loans Still Under Deferral, Percentage of Loan Category | 0.00% |
Note 6 - Bank Premises and Eq_3
Note 6 - Bank Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 1.6 | $ 1.4 |
Note 6 - Bank Premises and Eq_4
Note 6 - Bank Premises and Equipment - Property, Plant, and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, plant, and equipment, gross | $ 33,013 | $ 31,464 |
Accumulated depreciation | (15,434) | (13,946) |
Net | 17,579 | 17,518 |
Land [Member] | ||
Property, plant, and equipment, gross | 3,537 | 3,537 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | 13,708 | 12,798 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | 12,114 | 11,551 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 3,654 | $ 3,578 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deposit Liabilities Reclassified as Loans Receivable | $ 86 | $ 62 |
Deposit Liabilities Received on Terms Other than Normal Business | 0 | 0 |
Investment Securities Pledged as Collateral for Municipal Deposits | 279,700 | 235,000 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Letters of Credit Outstanding, Amount | $ 75,000 | $ 60,000 |
Note 7 - Deposits - Summary of
Note 7 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Demand (non-interest-bearing) | $ 271,499 | $ 179,465 |
Interest-bearing demand | 713,398 | 534,677 |
Savings | 109,664 | 94,530 |
Time ($250,000 and over) | 36,216 | 48,425 |
Other time | 156,671 | 144,612 |
Total interest-bearing | 1,015,949 | 822,244 |
Total deposits | $ 1,287,448 | $ 1,001,709 |
Note 7 - Deposits - Summary o_2
Note 7 - Deposits - Summary of Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 165,878 |
2022 | 16,370 |
2023 | 3,940 |
2024 | 3,753 |
2025 | 2,946 |
2026 and thereafter | 0 |
Total | 192,887 |
Time Deposits $250,000 and Over [Member] | |
2021 | 33,161 |
2022 | 3,055 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 and thereafter | 0 |
Total | 36,216 |
Time Deposits Less Than $250,000 [Member] | |
2021 | 132,717 |
2022 | 13,315 |
2023 | 3,940 |
2024 | 3,753 |
2025 | 2,946 |
2026 and thereafter | 0 |
Total | $ 156,671 |
Note 8 - Borrowed Funds (Detail
Note 8 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Sep. 01, 2019 | Dec. 14, 2006 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 01, 2015 | Jun. 30, 2015 | Sep. 01, 2009 |
Advances from Federal Home Loan Banks, Total | $ 0 | $ 46,909 | |||||
Long-term Debt, Total | 10,310 | 57,219 | |||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 10,310 | 10,310 | |||||
Interest Payable | 108 | 258 | |||||
Repayments of Subordinated Debt, Total | $ 5,000 | 0 | 5,000 | ||||
Trust Preferred Securities [Member] | First National Community Statutory Trust 1 [Member] | |||||||
Proceeds from Issuance of Trust Preferred Securities | $ 10,000 | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 7.02% | ||||||
Junior Subordinated Debt [Member] | |||||||
Long-term Debt, Total | 10,310 | 10,310 | |||||
Junior Subordinated Debt [Member] | First National Community Statutory Trust 1 [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.02% | ||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | $ 10,300 | $ 10,300 | |||||
Junior Subordinated Debt [Member] | First National Community Statutory Trust 1 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.67% | ||||||
Subordinated Debt [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 9.00% | |||||
Long-term Debt, Total | $ 0 | ||||||
Subordinated Debt [Member] | Maximum [Member] | |||||||
Debt Instrument, Face Amount | $ 25,000 | ||||||
Paycheck Protection Program Liquidity Facility [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.35% | ||||||
Long-term Debt, Total | $ 0 | ||||||
Federal Reserve Bank Borrowing, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 58,300 | ||||||
Debentures [Member] | |||||||
Debt Instrument, Interest Rate During Period | 2.43% | 4.17% | |||||
Interest Payable | $ 9 | $ 16 | |||||
Federal Home Loan Bank of Pittsburgh [Member] | |||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 500,100 | 475,300 | |||||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 352,200 | ||||||
Letters of Credit Outstanding, Amount | 75,000 | 60,000 | |||||
Federal Home Loan Bank of Pittsburgh [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | |||||||
Advances from Federal Home Loan Banks, Total | 0 | ||||||
Federal Funds Purchased [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 40,000 | ||||||
Short-term Debt, Total | 0 | 0 | |||||
Federal Reserve Bank Advances [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 16,400 | ||||||
Loans Pledged as Collateral | 31,500 | ||||||
Short-term Debt, Total | 0 | 0 | |||||
Federal Reserve Bank Advances [Member] | Borrower-in-custody Program [Member] | |||||||
Short-term Debt, Total | $ 0 | $ 0 |
Note 8 - Borrowed Funds - Compo
Note 8 - Borrowed Funds - Components of Borrowed Funds (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Long-term borrowed funds, ending balance | $ 10,310 | $ 57,219 |
Subordinated Debt [Member] | ||
Long-term borrowed funds, ending balance | 0 | |
Long-term borrowed funds, average balance | 520 | |
Long-term borrowed funds, maximum month-end balance | $ 5,000 | |
Long-term borrowed funds, weighted average rate for the year | 4.50% | |
Total, weighted average interest rate | 0.00% | |
Junior Subordinated Debt [Member] | ||
Long-term borrowed funds, ending balance | 10,310 | $ 10,310 |
Long-term borrowed funds, average balance | 10,310 | 10,310 |
Long-term borrowed funds, maximum month-end balance | $ 10,310 | $ 10,310 |
Long-term borrowed funds, weighted average rate for the year | 2.43% | 4.17% |
Total, weighted average interest rate | 1.89% | 3.56% |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Overnight [Member] | ||
Short-term borrowed funds, ending balance | $ 0 | $ 14,100 |
Short-term borrowed funds, average balance | 5,501 | 14,971 |
Short-term borrowed funds, maximum month-end balance | $ 35,125 | $ 59,825 |
Short-term borrowed funds, weighted average rate for the year | 1.24% | 2.58% |
Short-term borrowed funds, weighted average rate at year end | 0.00% | 1.80% |
Federal Home Loan Bank Advances [Member] | FHLB of Pittsburgh Advances - Term [Member] | ||
Short-term borrowed funds, ending balance | $ 0 | $ 32,809 |
Short-term borrowed funds, average balance | 26,354 | 37,831 |
Short-term borrowed funds, maximum month-end balance | $ 52,809 | $ 65,171 |
Short-term borrowed funds, weighted average rate for the year | 1.54% | 2.26% |
Short-term borrowed funds, weighted average rate at year end | 0.00% | 1.86% |
Federal Funds Purchased [Member] | ||
Short-term borrowed funds, ending balance | $ 0 | $ 0 |
Short-term borrowed funds, average balance | 26 | 8 |
Short-term borrowed funds, maximum month-end balance | $ 0 | $ 0 |
Short-term borrowed funds, weighted average rate for the year | 0.76% | 0.00% |
Short-term borrowed funds, weighted average rate at year end | 0.00% | 0.00% |
Federal Reserve Bank Advances [Member] | ||
Short-term borrowed funds, ending balance | $ 0 | $ 0 |
Short-term borrowed funds, average balance | 437 | 0 |
Short-term borrowed funds, maximum month-end balance | $ 10,000 | $ 0 |
Short-term borrowed funds, weighted average rate for the year | 0.25% | 0.00% |
Short-term borrowed funds, weighted average rate at year end | 0.00% | 0.00% |
Paycheck Protection Program Liquidity Facility [Member] | ||
Short-term borrowed funds, ending balance | $ 0 | |
Short-term borrowed funds, average balance | 8,659 | |
Short-term borrowed funds, maximum month-end balance | $ 36,272 | |
Short-term borrowed funds, weighted average rate for the year | 0.35% | |
Short-term borrowed funds, weighted average rate at year end | 0.00% |
Note 8 - Borrowed Funds - Borro
Note 8 - Borrowed Funds - Borrowed Funds by Maturity Date (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Total borrowed funds | $ 10,310 | $ 57,219 |
Borrowed Funds [Member] | ||
2021, amount | $ 0 | |
2021, weighted average interest rate | 0.00% | |
2022, amount | $ 0 | |
2022, weighted average interest rate | 0.00% | |
2023, amount | $ 0 | |
2023, weighted average interest rate | 0.00% | |
2024, amount | $ 0 | |
2024, weighted average interest rate | 0.00% | |
2025, amount | $ 0 | |
2025, weighted average interest rate | 0.00% | |
2025 and thereafter, amount | $ 10,310 | |
2025 and thereafter, weighted average interest rate | 1.89% | |
Total borrowed funds | $ 10,310 | |
Total, weighted average interest rate | 1.89% |
Note 9 - Derivative and Hedgi_3
Note 9 - Derivative and Hedging Transactions (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Derivative Liability, Total | $ 135 |
Interest Rate Swap [Member] | Interest Expense [Member] | |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 69 |
Note 9 - Derivative and Hedgi_4
Note 9 - Derivative and Hedging Transactions - Fair Values of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash and other collateral (1) | [1] | $ 0 | $ 0 |
Cash and other collateral (1) | [1] | 0 | 0 |
Net derivative amounts | 23 | 0 | |
Net derivative amounts | 143 | 0 | |
Designated as Hedging Instrument [Member] | |||
Derivative assets | 0 | 0 | |
Derivative Liabilities | 120 | 0 | |
Not Designated as Hedging Instrument [Member] | |||
Derivative assets | 23 | 0 | |
Derivative Liabilities | 23 | 0 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative Asset, Notional Amount | 0 | ||
Derivative Liability, Notional Amount | 30,000 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | |||
Derivative assets | 0 | 0 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | |||
Derivative Liabilities | 120 | 0 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative Asset, Notional Amount | 2,750 | ||
Derivative Liability, Notional Amount | 2,750 | ||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | |||
Derivative assets | 23 | 0 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | |||
Derivative Liabilities | $ 23 | $ 0 | |
[1] | Other collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The other collateral consist of securities and is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the other collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above. |
Note 9 - Derivative and Hedgi_5
Note 9 - Derivative and Hedging Transactions - Effect of Hedge Accounting on Accumulated Other Comprehensive Loss (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Amount of Gain or (Loss) Recognized in OCI on Derivative | $ (102) |
Amount of Gain or (Loss) Recognized in OCI Included Component | (102) |
Amount of Gain or (Loss) Recognized in OCI Excluded Component | 0 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | 11 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component | 11 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | 0 |
Interest Rate Swap [Member] | Interest Expense [Member] | |
Amount of Gain or (Loss) Recognized in OCI on Derivative | (102) |
Amount of Gain or (Loss) Recognized in OCI Included Component | (102) |
Amount of Gain or (Loss) Recognized in OCI Excluded Component | 0 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income | 11 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component | 11 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | $ 0 |
Note 9 - Derivative and Hedgi_6
Note 9 - Derivative and Hedging Transactions - Effect of Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | $ (11) |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | 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 | 11 |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | 11 |
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 |
Amount of gain or (loss) reclassified from accumulated OCI into income - included component | 11 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component | $ 0 |
Note 10 - Benefit Plans (Detail
Note 10 - Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Compensation Liability, Current and Noncurrent, Total | $ 2,000 | $ 2,000 |
Profit Sharing Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 0 | 0 |
Pension Plan [Member] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 332 | 305 |
Supplemental Executive Retirement Plan [Member] | ||
Retirement Plan, Annual, Accrued Unfunded Contributions | 240 | 173 |
Liability, Other Retirement Benefits | $ 856 | $ 657 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Operating Loss Carryforwards, Total | $ 2,000 | |
Deferred Tax Assets, Operating Loss Carryforwards, Total | $ 418 | $ 4,348 |
Note 11 - Income Taxes - Compon
Note 11 - Income Taxes - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current | $ 6 | $ 0 | ||||||||
Deferred | 3,219 | 2,326 | ||||||||
Income tax expense | $ 1,176 | $ 792 | $ 805 | $ 452 | $ 744 | $ 513 | $ 514 | $ 555 | $ 3,225 | $ 2,326 |
Note 11 - Income Taxes - Effect
Note 11 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Provision at statutory tax rates | $ 3,900 | $ 2,814 | ||||||||
Provision at statutory tax rates, percentage | 21.00% | 21.00% | ||||||||
Tax effects of tax free interest income | $ (632) | $ (344) | ||||||||
Tax effects of tax free interest income, percentage | (3.40%) | (2.56%) | ||||||||
Non-deductible interest expense | $ 46 | $ 19 | ||||||||
Non-deductible interest expense, percentage | 0.25% | 0.14% | ||||||||
Bank-owned life insurance | $ (101) | $ (109) | ||||||||
Bank-owned life insurance, percentage | (0.55%) | (0.81%) | ||||||||
Other items, net | $ 12 | $ (54) | ||||||||
Other items, net, percentage | 0.06% | (0.41%) | ||||||||
Income tax expense | $ 1,176 | $ 792 | $ 805 | $ 452 | $ 744 | $ 513 | $ 514 | $ 555 | $ 3,225 | $ 2,326 |
Income tax provision, percentage | 17.36% | 17.36% |
Note 11 - Income Taxes - Net De
Note 11 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Allowance for loan and lease losses | $ 2,638 | $ 2,027 |
Deferred compensation | 641 | 592 |
Lease liability | 752 | 729 |
Other real estate owned valuation | 23 | 33 |
Deferred intangible assets | 45 | 166 |
Employee benefits | 210 | 192 |
Accrued interest | 2 | 0 |
Accrued vacation | 56 | 42 |
Deferred income | 51 | 0 |
Depreciation | 13 | 10 |
Derivative liabilities | 24 | 0 |
Net operating loss carryover | 418 | 4,348 |
Gross deferred tax assets | 4,873 | 8,139 |
Deferred loan origination costs | (173) | (143) |
Unrealized holding gains on securities available-for-sale | (3,715) | (812) |
Unrealized holding gains on equity securities | (118) | 0 |
Right of use asset | (686) | (660) |
Deferred income | 0 | (22) |
Accrued interest | 0 | (224) |
Gross deferred tax liabilities | (4,692) | (1,861) |
Net deferred tax assets | $ 181 | $ 6,278 |
Note 12 - Related Party Trans_3
Note 12 - Related Party Transactions (Details Textual) - Directors, Executive Officers and Their Related Parties [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Deposit Liabilities | $ 146,200 | $ 84,100 |
Related Party Transactions, Interest Paid on Deposits | 542 | 484 |
Related Party Transaction, Expenses from Transactions with Related Party | 2,000 | 2,400 |
Nonperforming Financial Instruments [Member] | ||
Due from Related Parties, Total | $ 0 | $ 0 |
Note 12 - Related Party Trans_4
Note 12 - Related Party Transactions - Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | $ 77,896 | $ 64,634 |
Additions, new loans and advances | 79,325 | 93,871 |
Repayments | (58,286) | (80,609) |
Balance | $ 98,935 | $ 77,896 |
Note 13 - Commitments, Contin_3
Note 13 - Commitments, Contingencies and Concentrations (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Lease, Expense | $ 408 | $ 418 |
Reserves for Unfunded Commitments | 613 | 703 |
Payments Serviced for Federal Home Loan Bank | 21,600 | |
Maximum Obligation for Guarantees to Federal Home Loan Bank if Aggregate Foreclosure Losses on Pool of Loans Exceeds Specified Amount | 975 | |
Maximum Amount of Aggregate Foreclosure Losses on Entire Pool of Loans | 53 | |
Cash and Due from Banks, Total | 24,822 | 23,944 |
Loans and Leases Receivable, Gross, Total | 903,341 | 826,356 |
Commercial Real Estate, Construction Land Acquisition, and Development Loans Portfolio [Member] | Financing Receivable [Member] | Credit Concentration Risk [Member] | ||
Loans and Leases Receivable, Gross, Total | $ 333,700 | |
Loans and Leases Receivable as Percentage of Aggregate Gross Loans and Leases Receivable | 36.90% | |
Commercial Real Estate, Construction Land Acquisition, and Development Loans Portfolio [Member] | Financing Receivable [Member] | Geographic Concentration Risk [Member] | ||
Loans and Leases Receivable, Gross, Total | $ 47,400 | |
Loans and Leases Receivable as Percentage of Aggregate Gross Loans and Leases Receivable | 5.20% | |
Compass Bank [Member] | ||
Cash and Due from Banks, Total | $ 4,400 | 1,100 |
Other Assets [Member] | ||
Operating Lease, Right-of-Use Asset | 3,300 | 3,100 |
Other Liabilities [Member] | ||
Operating Lease, Liability, Total | $ 3,581 | $ 3,500 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies - Maturity of Remaining Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
2021 | $ 375 | |
2022 | 372 | |
2023 | 364 | |
2024 | 330 | |
2025 | 335 | |
2026 and thereafter | 2,742 | |
Total lease payments | 4,518 | |
Less: imputed interest | 937 | |
Other Liabilities [Member] | ||
Present value of operating lease liabilities | $ 3,581 | $ 3,500 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies - Other Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Weighted-average remaining lease term (in years) (Year) | 13 years 3 months 18 days | 14 years 3 months 18 days |
Weighted-average discount rate | 3.25% | 3.45% |
Operating cash flows from operating leases | $ 395 | $ 385 |
Note 13 - Commitments, Contin_4
Note 13 - Commitments, Contingencies and Concentrations - Fair Value of Off-balance Sheet Risks (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Commitments to Extend Credit [Member] | ||
Off-balance sheet risks, fair value | $ 227,908 | $ 275,891 |
Standby Letters of Credit [Member] | ||
Off-balance sheet risks, fair value | $ 18,914 | $ 15,081 |
Note 13 - Commitments, Contin_5
Note 13 - Commitments, Contingencies and Concentrations - Summary of Loan Concentration Risk (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans, gross | $ 903,341 | $ 826,356 |
Credit Concentration Risk [Member] | Retail Space/Shopping Centers [Member] | ||
Loans, gross | $ 43,926 | $ 43,865 |
Loans and Leases receivable, Percentage of Gross Loans | 4.86% | 5.31% |
Credit Concentration Risk [Member] | The 1-4 Family Residential Investment Properties [Member] | ||
Loans, gross | $ 58,114 | $ 38,122 |
Loans and Leases receivable, Percentage of Gross Loans | 6.43% | 4.61% |
Note 14 - Stock Compensation _3
Note 14 - Stock Compensation Plans (Details Textual) - Long-Term Incentive Compensation Plan [Member] - USD ($) $ / shares in Units, $ in Thousands | Jul. 01, 2020 | Jul. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
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 Payment Arrangement, Expense | $ 336 | $ 255 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 896 | $ 809 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 4 months 24 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 756,387,000 | |||
Non-employee Director [Member] | ||||
Stock Issued During Period, Shares, Share-based Compensation, Per Recipient (in shares) | 2,555 | 1,956 | ||
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 | $ 7.67 | ||
Directors Fee | $ 150 | $ 150 | ||
Ten Non-employee Directors [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 25,550 | 19,560 |
Note 14 - Stock Compensation _4
Note 14 - Stock Compensation Plans - Stock Compensation Plans (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Unvested restricted stock awards at January 1, (in shares) | 128,150 | |
Unvested restricted stock awards at January 1, Weighted average grant date fair value (in dollars per share) | $ 7.76 | |
Unvested restricted stock awards at December 31, (in shares) | 159,913 | 128,150 |
Unvested restricted stock awards at December 31, Weighted average grant date fair value (in dollars per share) | $ 7.07 | $ 7.76 |
Restricted Stock [Member] | ||
Unvested restricted stock awards at January 1, (in shares) | 128,150 | 114,702 |
Unvested restricted stock awards at January 1, Weighted average grant date fair value (in dollars per share) | $ 7.76 | $ 7.50 |
Awards granted (in shares) | 75,924 | 57,684 |
Awards granted, Weighted average grant date fair value (in dollars per share) | $ 6.07 | $ 7.64 |
Forfeitures (in shares) | (5,741) | (6,678) |
Forfeitures, Weighted average grant date fair value (in dollars per share) | $ 6.64 | $ 7.61 |
Vestings (in shares) | (38,420) | (37,558) |
Vestings, Weighted average grant date fair value (in dollars per share) | $ 7.48 | $ 6.80 |
Unvested restricted stock awards at December 31, (in shares) | 128,150 | |
Unvested restricted stock awards at December 31, Weighted average grant date fair value (in dollars per share) | $ 7.76 |
Note 15 - Regulatory Matters__3
Note 15 - Regulatory Matters/Subsequent Events (Details Textual) - USD ($) | Jan. 27, 2021 | Feb. 08, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 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 | $ 21,300,000 | $ 37,000 | $ 21,342,000 | ||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.22 | $ 0.20 | |||
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares) | 10,271 | 7,369 | |||
Subsequent Event [Member] | |||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.06 | ||||
Stock Repurchase Program, Authorized Amount | $ 975,000 | ||||
Dividends Payable, Date to be Paid | Mar. 15, 2021 | ||||
Dividends Payable, Date of Record | Mar. 1, 2021 | ||||
FNCB Bank [Member] | |||||
Payments for Capital Investment in Wholly Owned Subsidiary | $ 17,800,000 | ||||
Over-Allotment Option [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 428,550 |
Note 15 - Regulatory Matters -
Note 15 - Regulatory Matters - Risk-based Capital and Related Ratios (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Total capital (to risk-weighted assets), Amount | $ 149,173 | $ 133,406 |
Total capital (to risk-weighted assets), Ratio | 0.1579 | 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 | $ 137,356 | $ 123,753 |
Tier I capital (to risk-weighted assets), Ratio | 0.1454 | 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 | $ 137,356 | $ 123,753 |
Tier I common equity (to risk-weighted assets), Ratio | 0.1454 | 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 | $ 137,356 | $ 123,753 |
Tier I capital (to average assets), Ratio | 0.0957 | 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 | $ 944,546 | $ 903,172 |
Total average assets, Amount | $ 1,434,776 | $ 1,194,789 |
Note 16 - Fair Value Measurem_3
Note 16 - Fair Value Measurements (Details Textual) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 332,346 | $ 268,971 |
Debt Securities, Available-for-sale, Total | 350,035 | 272,839 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 23,800 | 7,000 |
Debt Securities, Available-for-sale, Total | $ 24,580 | $ 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 | 3.99 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Debt Securities, Available-for-sale, Measurement Input | 5.07 |
Note 16 - Fair Value Measurem_4
Note 16 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities, at fair value | $ 350,035 | $ 272,839 |
Equity securities, at fair value | 3,026 | 920 |
Derivative liabilities | 135 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 205,828 | 117,763 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 13,026 | 18,485 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale debt securities, at fair value | 38,199 | 25,075 |
Corporate Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 24,580 | 7,182 |
Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 7,526 | 5,621 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale debt securities, at fair value | 0 | 696 |
Fair Value, Recurring [Member] | ||
Available-for-sale debt securities, at fair value | 350,035 | 272,839 |
Equity securities, at fair value | 3,026 | 920 |
Derivative assets | 23 | |
Total financial assets | 353,084 | 273,759 |
Derivative liabilities | 143 | |
Total financial liabilities | 143 | |
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 | 3,026 | 920 |
Derivative assets | 0 | |
Total financial assets | 3,026 | 920 |
Derivative liabilities | 0 | |
Total financial liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 333,612 | 267,689 |
Equity securities, at fair value | 0 | 0 |
Derivative assets | 23 | |
Total financial assets | 333,635 | 267,689 |
Derivative liabilities | 143 | |
Total financial liabilities | 143 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 16,424 | 5,150 |
Equity securities, at fair value | 0 | 0 |
Derivative assets | 0 | |
Total financial assets | 16,424 | 5,150 |
Derivative liabilities | 0 | |
Total financial liabilities | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale debt securities, at fair value | 205,828 | 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 | 205,828 | 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 | 56,972 | 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 | 56,972 | 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 | 3,904 | 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 | 3,904 | 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 | 13,026 | 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 | 13,026 | 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 | 38,199 | 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 | 38,199 | 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 | 24,580 | 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 | 8,156 | 2,032 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale debt securities, at fair value | 16,424 | 5,150 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Available-for-sale debt securities, at fair value | 7,526 | 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 | 7,526 | 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 | 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 | |
Fair Value, Recurring [Member] | Negotiable Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale debt securities, at fair value | 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 |
Note 16 - Fair Value Measurem_5
Note 16 - Fair Value Measurements - Changes in Fair Value Assets (Details) - Corporate Debt Securities [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance | $ 5,150 | $ 3,929 |
Additions | 11,800 | 1,000 |
Redemptions | (1,015) | 0 |
Sales | 0 | 0 |
Included in earnings | 15 | 0 |
Included in other comprehensive income | 474 | 221 |
Balance | $ 16,424 | $ 5,150 |
Note 16 - Fair Value Measurem_6
Note 16 - Fair Value Measurements - Assets Measured At Fair Value on a Non-recurring Basis and Quantitative Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Recorded investment | $ 11,735 | $ 15,786 |
Related allowance | 416 | 473 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||
Related allowance | 0 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Market Approach [Member] | Impaired Loans, Collateral Dependent [Member] | ||
Recorded investment | 4,244 | 7,721 |
Related allowance | 218 | 376 |
Fair Value | $ 4,026 | $ 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 | $ 58 | $ 289 |
Related allowance | ||
Fair Value | $ 58 | $ 289 |
Selling Cost | 10.00% | 10.00% |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | Valuation, Income Approach [Member] | Impaired Loans, Other [Member] | ||
Recorded investment | $ 7,491 | $ 8,065 |
Related allowance | 198 | 97 |
Fair Value | $ 7,293 | $ 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 16 - Fair Value Measurem_7
Note 16 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Information (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Available-for-sale debt securities | $ 350,035 | $ 272,839 |
Equity securities, at fair value | 3,026 | 920 |
Derivative liabilities | 135 | |
Reported Value Measurement [Member] | ||
Available-for-sale debt securities | 350,035 | 272,839 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 155,811 | 34,565 |
Equity securities, at fair value | 3,026 | 920 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 1,745 | 3,804 |
Loans held for sale | 2,107 | 1,061 |
Accrued interest receivable | 4,286 | 3,234 |
Derivative assets | 23 | 0 |
Deposits | 1,287,448 | 1,001,709 |
Borrowed funds | 10,310 | 57,219 |
Accrued interest payable | 108 | 258 |
Derivative liabilities | 135 | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 889,152 | 819,529 |
Equity securities without readily determinable fair values | 500 | 1,658 |
Servicing rights | 324 | 356 |
Estimate of Fair Value Measurement [Member] | ||
Available-for-sale debt securities | 350,035 | 272,839 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and short term investments | 155,811 | 34,565 |
Equity securities, at fair value | 3,026 | 920 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Restricted stock | 1,745 | 3,804 |
Loans held for sale | 2,107 | 1,061 |
Accrued interest receivable | 4,286 | 3,234 |
Derivative assets | 23 | 0 |
Deposits | 1,288,567 | 1,001,829 |
Borrowed funds | 10,310 | 57,234 |
Accrued interest payable | 108 | 258 |
Derivative liabilities | 143 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 891,880 | 810,074 |
Equity securities without readily determinable fair values | 500 | 1,658 |
Servicing rights | $ 479 | $ 790 |
Note 17 - Earnings Per Share -
Note 17 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 15,347 | $ 11,075 | ||||||||
Basic weighted-average number of common stock outstanding (in shares) | 20,210,439 | 19,802,095 | ||||||||
Plus: common share equivalents (in shares) | 1,747 | 5,497 | ||||||||
Diluted weighted-average number of common stock outstanding (in shares) | 20,212,187 | 19,807,592 | ||||||||
Basic (in dollars per share) | $ 0.26 | $ 0.20 | $ 0.20 | $ 0.10 | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.76 | $ 0.56 |
Diluted (in dollars per share) | $ 0.26 | $ 0.20 | $ 0.20 | $ 0.10 | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.76 | $ 0.56 |
Note 18 - Other Comprehensive_3
Note 18 - Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reclassification adjustment for net gains included in net income | $ (1,528) | $ (1,227) | ||||||||
Income tax expense | $ 1,176 | $ 792 | $ 805 | $ 452 | $ 744 | $ 513 | $ 514 | $ 555 | 3,225 | 2,326 |
Net of tax amount | 1,207 | 969 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||
Reclassification adjustment for net gains included in net income | (1,528) | (1,227) | ||||||||
Income tax expense | 321 | 258 | ||||||||
Net of tax amount | $ (1,207) | $ (969) |
Note 18 - Other Comprehensive_4
Note 18 - Other Comprehensive Income - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance, January 1, | $ 133,607 | $ 97,219 |
Total other comprehensive income | 10,830 | 7,596 |
Balance, December 31, | 155,860 | 133,607 |
AOCI Attributable to Parent [Member] | ||
Balance, January 1, | 3,056 | (4,540) |
Other comprehensive income before reclassifications | 12,037 | 8,565 |
Amounts reclassified from accumulated other comprehensive income | (1,207) | (969) |
Total other comprehensive income | 10,830 | 7,596 |
Balance, December 31, | $ 13,886 | $ 3,056 |
Note 19 - Condensed Financial_3
Note 19 - Condensed Financial Information - Parent Company Only - Condensed Statements of Condition (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Equity securities, at fair value | $ 3,026 | $ 920 | |
Other assets | 10,226 | 18,841 | |
Total assets | 1,465,679 | 1,203,541 | |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 10,310 | 10,310 | |
Accrued interest payable | 108 | 258 | |
Other liabilities | 11,953 | 10,748 | |
Total liabilities | 1,309,819 | 1,069,934 | |
Shareholders’ equity | 155,860 | 133,607 | $ 97,219 |
Total liabilities and shareholders’ equity | 1,465,679 | 1,203,541 | |
Parent Company [Member] | |||
Cash | 11,296 | 10,343 | |
Investment in statutory trust | 425 | 418 | |
Investment in subsidiary (equity method) | 151,700 | 131,194 | |
Equity securities, at fair value | 2,093 | 0 | |
Other assets | 726 | 2,019 | |
Total assets | 166,240 | 143,974 | |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust, Total | 10,310 | 10,310 | |
Accrued interest payable | 9 | 16 | |
Other liabilities | 61 | 41 | |
Total liabilities | 10,380 | 10,367 | |
Shareholders’ equity | 155,860 | 133,607 | |
Total liabilities and shareholders’ equity | $ 166,240 | $ 143,974 |
Note 19 - Condensed Financial_4
Note 19 - Condensed Financial Information - Parent Company Only - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 22 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 26, 2020 | |
Interest and dividend income | $ 12,702 | $ 11,302 | $ 11,190 | $ 11,144 | $ 11,479 | $ 11,506 | $ 11,462 | $ 11,609 | $ 46,338 | $ 46,056 | |
Net gain on equity securities | 1,171 | 29 | |||||||||
Trust income | 8 | 13 | |||||||||
Subordinated debentures | 0 | 24 | |||||||||
Junior subordinated debentures | 250 | 430 | |||||||||
Other operating expenses | 4,737 | 5,424 | |||||||||
Total expenses | 7,443 | 7,843 | 6,424 | 7,205 | 7,806 | 7,329 | 7,122 | 7,425 | 28,915 | 29,682 | |
Income before income taxes | 6,332 | 4,899 | 4,826 | 2,515 | 4,232 | 2,916 | 3,063 | 3,190 | 18,572 | 13,401 | |
Income tax expense | 1,176 | 792 | 805 | 452 | 744 | 513 | 514 | 555 | 3,225 | 2,326 | |
Income before equity in undistributed net income of subsidiary | 15,347 | 11,075 | |||||||||
Net income | $ 5,156 | $ 4,107 | $ 4,021 | $ 2,063 | $ 3,488 | $ 2,403 | $ 2,549 | $ 2,635 | |||
Parent Company [Member] | |||||||||||
Dividends from subsidiaries | 10,000 | 10,000 | |||||||||
Interest and dividend income | 75 | 77 | |||||||||
Net gain on equity securities | 1,158 | 0 | $ 0 | ||||||||
Trust income | 8 | 13 | 13 | ||||||||
Total income | 11,241 | 10,090 | |||||||||
Subordinated debentures | 0 | 24 | |||||||||
Junior subordinated debentures | 251 | 430 | |||||||||
Other operating expenses | 312 | 275 | |||||||||
Total expenses | 563 | 729 | |||||||||
Income before income taxes | 10,679 | 9,361 | |||||||||
Income tax expense | 6 | 0 | |||||||||
Income before equity in undistributed net income of subsidiary | 10,673 | 9,361 | |||||||||
Equity in undistributed net income of subsidiary | 4,675 | 1,714 | 1,714 | ||||||||
Net income | $ 15,347 | $ 11,075 | $ 11,075 |
Note 19 - Condensed Financial_5
Note 19 - Condensed Financial Information - Parent Company Only - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | Feb. 08, 2019 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 26, 2020 |
Net income | $ 5,156 | $ 4,107 | $ 4,021 | $ 2,063 | $ 3,488 | $ 2,403 | $ 2,549 | $ 2,635 | ||||
Equity in trust | $ (8) | $ (13) | ||||||||||
Net gain on equity securities | (1,171) | (29) | ||||||||||
Decrease in accrued interest payable | (150) | (80) | ||||||||||
Increase (decrease) in other liabilities | 773 | (354) | ||||||||||
Net cash provided by operating activities | 19,575 | 14,652 | ||||||||||
Proceeds from the sale/transfer of equity securities | 1,223 | 0 | ||||||||||
Purchase of equity securities | (500) | 0 | ||||||||||
Purchase of equity securities without readily determinable fair values | (500) | 0 | ||||||||||
Net cash (used in) provided by investing activities | (132,749) | 37,061 | ||||||||||
Proceeds from issuance of common shares, net of discount | $ 21,300 | 37 | 21,342 | |||||||||
Cash dividends paid | (4,447) | (4,030) | ||||||||||
Net cash (used in) provided by financing activities | 234,420 | (53,629) | ||||||||||
Cash at beginning of year | 34,565 | 34,565 | ||||||||||
Cash at end of year | 155,811 | 34,565 | 155,811 | 34,565 | ||||||||
Parent Company [Member] | ||||||||||||
Net income | 15,347 | 11,075 | $ 11,075 | |||||||||
Equity in undistributed income of subsidiary | (4,675) | (1,714) | (1,714) | |||||||||
Equity in trust | (8) | (13) | (13) | |||||||||
Net gain on equity securities | (1,158) | 0 | 0 | |||||||||
Decrease in accrued interest payable | (7) | (22) | ||||||||||
Decrease in other assets | 621 | 467 | ||||||||||
Increase (decrease) in other liabilities | 20 | 12 | ||||||||||
Net cash provided by operating activities | 10,140 | 9,805 | ||||||||||
Investment in Subsidiary | (5,000) | (17,750) | ||||||||||
Proceeds from the sale/transfer of equity securities | 1,223 | 0 | ||||||||||
Purchase of equity securities | (500) | 0 | ||||||||||
Purchase of equity securities without readily determinable fair values | (500) | 0 | ||||||||||
Net cash (used in) provided by investing activities | (4,777) | (17,750) | ||||||||||
Principal reduction on subordinated debentures | 0 | (5,000) | ||||||||||
Proceeds from issuance of common shares, net of discount | 37 | 21,342 | ||||||||||
Cash dividends paid | (4,447) | (4,030) | ||||||||||
Net cash (used in) provided by financing activities | (4,410) | 12,312 | ||||||||||
Net increase in cash | 953 | 4,367 | ||||||||||
Cash at beginning of year | $ 10,343 | $ 5,976 | 10,343 | 5,976 | 5,976 | |||||||
Cash at end of year | $ 11,296 | $ 10,343 | $ 11,296 | $ 10,343 | $ 10,343 |
Note 20 - Selected Quarterly _3
Note 20 - Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest income | $ 12,702 | $ 11,302 | $ 11,190 | $ 11,144 | $ 11,479 | $ 11,506 | $ 11,462 | $ 11,609 | $ 46,338 | $ 46,056 |
Interest expense | 1,127 | 1,456 | 1,610 | 1,967 | 2,170 | 2,455 | 2,508 | 2,663 | 6,160 | 9,796 |
Net interest income | 11,575 | 9,846 | 9,580 | 9,177 | 9,309 | 9,051 | 8,954 | 8,946 | 40,178 | 36,260 |
Provision for loan and lease losses | (115) | 74 | 831 | 1,151 | (33) | 637 | 347 | (154) | 1,941 | 797 |
Net interest income after provision (credit) for loan and lease losses | 11,690 | 9,772 | 8,749 | 8,026 | 9,342 | 8,414 | 8,607 | 9,100 | 38,237 | 35,463 |
Non-interest income | 2,085 | 2,970 | 2,501 | 1,694 | 2,696 | 1,831 | 1,578 | 1,515 | 9,250 | 7,620 |
Non-interest expense | 7,443 | 7,843 | 6,424 | 7,205 | 7,806 | 7,329 | 7,122 | 7,425 | 28,915 | 29,682 |
Income before income taxes | 6,332 | 4,899 | 4,826 | 2,515 | 4,232 | 2,916 | 3,063 | 3,190 | 18,572 | 13,401 |
Income tax expense | 1,176 | 792 | 805 | 452 | 744 | 513 | 514 | 555 | $ 3,225 | $ 2,326 |
Net income | $ 5,156 | $ 4,107 | $ 4,021 | $ 2,063 | $ 3,488 | $ 2,403 | $ 2,549 | $ 2,635 | ||
Basic (in dollars per share) | $ 0.26 | $ 0.20 | $ 0.20 | $ 0.10 | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.76 | $ 0.56 |
Diluted (in dollars per share) | $ 0.26 | $ 0.20 | $ 0.20 | $ 0.10 | $ 0.17 | $ 0.12 | $ 0.13 | $ 0.14 | $ 0.76 | $ 0.56 |