Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Feb. 15, 2024 | Jun. 30, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001053584 | ||
Entity Registrant Name | MACATAWA BANK CORP | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 000-25927 | ||
Entity Incorporation, State or Country Code | MI | ||
Entity Tax Identification Number | 38-3391345 | ||
Entity Address, Address Line One | 10753 Macatawa Drive | ||
Entity Address, City or Town | Holland | ||
Entity Address, State or Province | MI | ||
Entity Address, Postal Zip Code | 49424 | ||
City Area Code | 616 | ||
Local Phone Number | 820-1444 | ||
Title of 12(b) Security | Common stock | ||
Trading Symbol | MCBC | ||
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 | ||
ICFR Auditor Attestation Flag | true | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 290,894,000 | ||
Entity Common Stock, Shares Outstanding | 34,361,562 | ||
Auditor Name | BDO USA, P.C. | ||
Auditor Location | Grand Rapids, MI | ||
Auditor Firm ID | 243 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and due from banks | $ 32,317 | $ 51,215 |
Federal funds sold and other short-term investments | 418,035 | 703,955 |
Cash and cash equivalents | 450,352 | 755,170 |
Securities available for sale, at fair value | 508,798 | 499,257 |
Securities held to maturity (fair value 2023 - $322,098 and 2022 - $332,650) | 331,523 | 348,765 |
Federal Home Loan Bank (FHLB) stock | 10,211 | 10,211 |
Loans held for sale, at fair value | 0 | 215 |
Total loans | 1,338,386 | 1,177,748 |
Allowance for credit losses | (17,442) | (15,285) |
Net loans | 1,320,944 | 1,162,463 |
Premises and equipment – net | 38,604 | 40,306 |
Accrued interest receivable | 8,976 | 7,606 |
Bank-owned life insurance | 54,249 | 53,345 |
Other real estate owned - net | 0 | 2,343 |
Deferred tax asset - net | 7,202 | 9,712 |
Other assets | 17,840 | 17,526 |
Total assets | 2,748,699 | 2,906,919 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Noninterest-bearing | 643,035 | 834,879 |
Interest-bearing | 1,772,695 | 1,780,263 |
Total deposits | 2,415,730 | 2,615,142 |
Other borrowed funds | 30,000 | 30,000 |
Accrued expenses and other liabilities | 15,884 | 14,739 |
Total liabilities | 2,461,614 | 2,659,881 |
Commitments and Contingencies (Notes 16 and 17) | ||
Shareholders' equity | ||
Common stock, no par value, 200,000,000 shares authorized; 34,361,562 and 34,298,640 shares issued and outstanding, respectively | 220,255 | 219,578 |
Retained earnings | 89,760 | 59,036 |
Accumulated other comprehensive loss | (22,930) | (31,576) |
Total shareholders' equity | 287,085 | 247,038 |
Total liabilities and shareholders' equity | $ 2,748,699 | $ 2,906,919 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Debt securities, held to maturity, fair value | $ 322,098 | $ 332,650 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 34,361,562 | 34,298,640 |
Common stock, outstanding (in shares) | 34,361,562 | 34,298,640 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Interest income | |||
Loans, including fees | $ 69,537 | $ 47,176 | |
Securities | |||
Taxable | 18,191 | 11,333 | |
Tax-exempt | 2,764 | 2,803 | |
FHLB Stock | 318 | 199 | |
Federal funds sold and other short-term investments | 23,001 | 13,395 | |
Total interest income | 113,811 | 74,906 | |
Interest expense | |||
Deposits | 25,730 | 3,773 | |
Other borrowings | 634 | 987 | |
Total interest expense | 26,364 | 4,760 | |
Net interest income | 87,447 | 70,146 | |
Provision (benefit) for credit losses | 550 | [1] | (1,125) |
Net interest income after provision (benefit) for credit losses | 86,897 | 71,271 | |
Noninterest income | |||
Net gains on mortgage loans | 65 | 706 | |
BOLI income | 903 | 878 | |
Other | 2,338 | 2,755 | |
Total noninterest income | 18,441 | 20,019 | |
Noninterest expense | |||
Salaries and benefits | 28,620 | 26,194 | |
Occupancy of premises | 4,208 | 4,200 | |
Furniture and equipment | 4,199 | 4,008 | |
Legal and professional | 1,425 | 961 | |
Marketing and promotion | 803 | 803 | |
Data processing | 3,953 | 3,756 | |
FDIC assessment | 1,320 | 789 | |
Interchange and other card expense | 1,633 | 1,586 | |
Bond and D&O Insurance | 490 | 518 | |
Other | 4,940 | 5,411 | |
Total noninterest expenses | 51,591 | 48,226 | |
Income before income tax | 53,747 | 43,064 | |
Income tax expense | 10,523 | 8,333 | |
Net income | $ 43,224 | $ 34,731 | |
Basic and diluted earnings per common share (in dollars per share) | $ 1.26 | $ 1.01 | |
Cash dividends per common share (in dollars per share) | $ 0.33 | $ 0.32 | |
Service [Member] | |||
Noninterest income | |||
Noninterest revenue | $ 4,109 | $ 4,769 | |
Trust Fees [Member] | |||
Noninterest income | |||
Noninterest revenue | 4,332 | 4,143 | |
ATM and Debit Card Fees [Member] | |||
Noninterest income | |||
Noninterest revenue | $ 6,694 | $ 6,768 | |
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net income | $ 43,224 | $ 34,731 |
Unrealized gains (losses): | ||
Net change in unrealized gains (losses) on debt securities available for sale | 10,965 | (39,686) |
Net unrealized gain at time of transfer on securities transferred to held-to-maturity | 0 | 113 |
Amortization of net unrealized gains on securities transferred to held-to-maturity | (21) | (21) |
Tax effect | (2,298) | 8,315 |
Net change in unrealized gains (losses) on securities available for sale, net of tax | 8,646 | (31,279) |
Other comprehensive income (loss), net of tax | 8,646 | (31,279) |
Comprehensive income | $ 51,870 | $ 3,452 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2021 | $ 219,082 | $ 35,220 | $ (297) | $ 254,005 | ||||
Net income | 0 | 34,731 | 0 | 34,731 | ||||
Cash dividends | 0 | (10,915) | 0 | (10,915) | ||||
Repurchase of shares for taxes withheld on vested restricted stock | (207) | 0 | 0 | (207) | ||||
Other comprehensive income (loss), net of tax | 0 | 0 | (31,279) | (31,279) | ||||
Stock compensation expense | 703 | 0 | 0 | 703 | ||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ (1,215) | $ 0 | $ (1,215) | ||||
Balance at Dec. 31, 2022 | 219,578 | 59,036 | (31,576) | 247,038 | ||||
Net income | 0 | 43,224 | 0 | 43,224 | ||||
Cash dividends | 0 | (11,285) | 0 | (11,285) | ||||
Repurchase of shares for taxes withheld on vested restricted stock | (143) | 0 | 0 | (143) | ||||
Other comprehensive income (loss), net of tax | 0 | 0 | 8,646 | 8,646 | ||||
Stock compensation expense | 820 | 0 | 0 | 820 | ||||
Balance at Dec. 31, 2023 | $ 220,255 | $ 89,760 | $ (22,930) | $ 287,085 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash dividends per common share (in dollars per share) | $ 0.33 | $ 0.32 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Cash flows from operating activities | |||
Net income | $ 43,224 | $ 34,731 | |
Adjustments to reconcile net income to net cash from operating activities: | |||
Depreciation, amortization and accretion | 316 | 1,558 | |
Stock compensation expense | 820 | 703 | |
Provision (benefit) for credit losses | 550 | [1] | (1,125) |
Origination of loans for sale | (4,145) | (26,236) | |
Proceeds from sales of loans originated for sale | 4,425 | 28,134 | |
Net gains on mortgage loans | (65) | (706) | |
Net (gain) loss on sales of other real estate | (356) | (47) | |
Deferred income tax expense | 535 | 766 | |
Change in accrued interest receivable and other assets | (1,684) | (6,051) | |
Bank-owned life insurance | (903) | (878) | |
Change in accrued expenses and other liabilities | 1,083 | 3,951 | |
Net cash from operating activities | 43,800 | 34,800 | |
Cash flows from investing activities | |||
Loan originations and payments, net | (160,507) | (68,234) | |
Purchases of securities available for sale | (24,072) | (285,572) | |
Purchases of securities held to maturity | (14,789) | (166,566) | |
Maturities and calls of securities available for sale | 12,698 | 24,450 | |
Maturities and calls of securities held to maturity | 23,685 | 41,873 | |
Principal paydowns on securities available for sale | 14,679 | 14,918 | |
Principal paydowns on securities held to maturity | 8,268 | 36,053 | |
Sales of other real estate | 2,699 | 47 | |
Redemption of FHLB stock | 0 | 1,347 | |
Additions to premises and equipment | (439) | (796) | |
Net cash for investing activities | (137,778) | (402,480) | |
Cash flows from financing activities | |||
Change in deposits | (199,412) | 37,184 | |
Repayments and maturities of other borrowed funds | 0 | (80,000) | |
Proceeds from other borrowed funds | 0 | 25,000 | |
Cash dividends paid | (11,285) | (10,915) | |
Repurchase of shares for taxes withheld on vested restricted stock | (143) | (207) | |
Net cash for financing activities | (210,840) | (28,938) | |
Net change in cash and cash equivalents | (304,818) | (396,618) | |
Cash and cash equivalents at beginning of period | 755,170 | 1,151,788 | |
Cash and cash equivalents at end of period | 450,352 | 755,170 | |
Supplemental cash flow information | |||
Interest paid | 25,577 | 4,717 | |
Income taxes paid | 9,600 | 6,500 | |
Supplemental noncash disclosures: | |||
Transfer of securities from available for sale to held to maturity | 0 | 123,469 | |
Security settlement | $ 0 | $ 0 | |
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation Macatawa Bank is a Michigan chartered bank with depository accounts insured by the Federal Deposit Insurance Corporation. The Bank operates 26 full service branch offices providing a full range of commercial and consumer banking and trust services in Kent County, Ottawa County, and northern Allegan County, Michigan. Use of Estimates FASB issued ASU No. 2016 13, Financial Instruments Credit Losses (Topic 326 no may 2022 02, Financial Instruments - Credit Losses (Topic 326 The Company adopted these standards as required on January 1, 2023 January 1, 2023 Concentration of Credit Risk December 31, 2023 Cash and Cash Equivalents 90 Cash Flow Reporting 90 Restrictions on Cash December 31, 2023 2022 Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level yield method without anticipating prepayments. Gains and losses on sales are based on the amortized cost of the security sold. Accrued interest receivable on securities totaled $3.4 million at December 31, 2023 December 31, 2022 Securities Available for Sale not not 326 30 not December 31, 2023 January 1, 2023, no Securities Held to Maturity no 1 2 3 4 December 31, 2023 January 1, 2023, no For periods prior to January 1, 2023, 320, Investments Debt and Equity Instruments 1 2 3 4 not no 2022. Federal Home Loan Bank (FHLB) Stock may no 2023 2022 Loans Held for Sale December 31, 2023 2022 no Loans Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the respective term of the loan using the level-yield method without anticipating prepayments. Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer loans are typically charged off no 90 All interest accrued but not Allowance for Credit Losses ("ACL") - Loans may The allowance is measured on a collective pool basis when similar risk characteristics exist. Loans with similar risk characteristics are grouped into homogeneous classes, or pools, for allowance calculation. Commercial loans are divided into eight The Company's loan portfolio classes as of December 31, 2023 Commercial Loans: Commercial and Industrial Residential developed Unsecured to residential developers Vacant and unimproved Commercial development Residential improved Commercial improved Manufacturing and industrial Consumer Loans: Residential mortgage Unsecured Home equity Other secured The remaining life methodology is used for all loan pools. This nondiscounted cash flow approach projects an estimated future amortized cost basis based on current loan balance and repayment terms. Given the bank's limited loss history over the past twelve Reasonable and supportable economic forecasts have to be incorporated in determining expected losses. The forecast period represents the time frame from the current period end through the point in time that the Company can reasonably forecast. Ideally, the economic forecast period would cover the contractual terms of all loans; however, the ability to produce a forecast that is both reasonable and supportable becomes more difficult the longer the period is projected. For periods beyond the forecast period, the loss rate reverts back to the baseline lifetime loss. As of December 31, 2023 one six third twenty-five December 2023 A number of qualitative factors are considered including economic forecast uncertainty, credit quality trends, valuation trends, concentration risk, quality of loan review, changes in personnel, impact of rising interest rates, external factors and other considerations. During each reporting period, management also considers the need to adjust the baseline lifetime loss rates for factors that may The Company is also required to consider expected credit losses associated with loan commitments over the contractual period in which it is exposed to credit risk on the underlying commitments unless the obligation is unconditionally cancellable by the Company. Any allowance for off-balance sheet credit exposures is reported as an other liability on the Company's Consolidated Balance Sheet and is increased or decreased via provision for credit losses on the Company's Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same methodology, inputs and assumptions as the funded portion of loans at the segment level applied to the amount of commitments expected to be funded. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the respective term of the loan using the level-yield method without anticipating prepayments. Accrued interest on loans totaled $5.3 million at December 31, 2023 December 31, 2022 Accrued interest receivable for loans is included as a separate line item on the Company's Consolidated Balance Sheet. The Company elected not Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 no 120 90 All interest accrued but not Transfers of Financial Assets not Foreclosed Assets Premises and Equipment Bank-Owned Life Insurance (BOLI): Long-term Assets may not 2023 2022 Loan Commitments and Related Financial Instruments Mortgage Banking Derivatives not Changes in the fair values of these interest rate lock and mortgage backed security and forward commitment derivatives are included in net gains on mortgage loans. The fair value of interest rate lock commitments was $1,000 and $0 at December 31, 2023 2022 December 31, 2023 2022 Revenue From Contracts With Customers 606, Revenue from Contracts with Customers 606” 606, No The Company’s primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not The Company generally satisfies its performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 Interest Income: The Company’s largest source of revenue is interest income which is primarily recognized on an accrual basis based on contractual terms written into loans and investment contracts. Noninterest Revenue: The Company derives the majority of its noninterest revenue from: ( 1 2 3 4 Derivatives two no December 31, 2023 December 31, 2022 Income Taxes not" not The Company recognizes a tax position as a benefit only if it is “more likely than not” 50% not not” no The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Earnings Per Common Share Stock-Based Compensation Comprehensive Income Loss Contingencies Stock Splits and Dividends no Dividend Restriction Fair Values of Financial Instruments not not Segment Reporting one Reclassifications Accounting Standards Updates Accounting Standards Codification (Topic 848 Reference Rate Reform, not not 2022. ASU No. 2022 02 Financial Instruments - Credit Losses (Topic 326 310 40, December 15, 2022. January 1, 2023 not ASU No. 2023 07, egment Reporting (Topic 280 1 2 3 4 one may one 5 6 December 15, 2023, December 15, 2024. one December 31, 2024. not ASU No. 2023 09, Income Taxes (Topic 740 1 2 1 2 5 1 2 December 15, 2024. not |
Note 2 - Securities
Note 2 - Securities | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 SECURITIES The amortized cost and fair value of securities were as follows (dollars in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2023 Available for Sale: U.S. Treasury and federal agency securities $ 256,234 $ 25 $ (10,767 ) $ 245,492 Agency MBS and CMOs 123,767 173 (12,604 ) 111,336 Tax-exempt state and municipal bonds 30,850 31 (284 ) 30,597 Taxable state and municipal bonds 115,516 105 (5,545 ) 110,076 Corporate bonds and other debt securities 11,527 3 (233 ) 11,297 $ 537,894 $ 337 $ (29,433 ) $ 508,798 Held to Maturity U.S. Treasury $ 251,229 $ — $ (8,520 ) 242,709 Tax-exempt state and municipal bonds 80,294 284 (1,189 ) 79,389 $ 331,523 $ 284 $ (9,709 ) $ 322,098 December 31, 2022 Available for Sale: U.S. Treasury and federal agency securities $ 240,921 $ 23 $ (16,310 ) $ 224,634 Agency MBS and CMOs 128,165 — (14,347 ) 113,818 Tax-exempt state and municipal bonds 37,198 10 (498 ) 36,710 Taxable state and municipal bonds 120,647 49 (8,525 ) 112,171 Corporate bonds and other debt securities 12,387 — (463 ) 11,924 $ 539,318 $ 82 $ (40,143 ) $ 499,257 Held to Maturity U.S. Treasury $ 251,307 $ — $ (13,677 ) 237,630 Tax-exempt state and municipal bonds 97,458 415 (2,853 ) 95,020 $ 348,765 $ 415 $ (16,530 ) $ 332,650 There were no sales of securities available for sale during the years ended December 31, 2023 2022 Contractual maturities of debt securities at December 31, 2023 Held–to-Maturity Securities Available-for-Sale Securities Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 153,581 $ 151,849 $ 126,515 $ 124,986 Due from one to five years 165,867 158,034 281,413 266,356 Due from five to ten years 12,075 12,215 6,199 6,120 Due after ten years — — — — Agency MBS and CMOs — — 123,767 111,336 $ 331,523 $ 322,098 $ 537,894 $ 508,798 Securities with unrealized losses at December 31, 2023 2022 Less than 12 Months 12 Months or More Total December 31, 2023 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available for Sale: U.S. Treasury and federal agency securities $ 15,615 $ (41 ) $ 215,712 $ (10,726 ) $ 231,327 $ (10,767 ) Agency MBS and CMOs 8,574 (52 ) 83,893 (12,552 ) 92,467 (12,604 ) Tax-exempt state and municipal bonds 8,472 (50 ) 13,296 (234 ) 21,768 (284 ) Taxable state and municipal bonds 4,667 (18 ) 93,900 (5,527 ) 98,567 (5,545 ) Corporate bonds and other debt securities — — 10,822 (233 ) 10,822 (233 ) $ 37,328 $ (161 ) $ 417,623 $ (29,272 ) $ 454,951 $ (29,433 ) Held to Maturity: U.S. Treasury $ — $ — $ 242,709 $ (8,520 ) $ 242,709 $ (8,520 ) Tax-exempt state and municipal bonds 673 (2 ) 45,513 (1,187 ) 46,186 (1,189 ) $ 673 $ (2 ) $ 288,222 $ (9,707 ) $ 288,895 $ (9,709 ) Less than 12 Months 12 Months or More Total December 31, 2022 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available for Sale: U.S. Treasury and federal agency securities $ 144,796 $ (6,230 ) $ 66,008 $ (10,080 ) $ 210,804 $ (16,310 ) Agency MBS and CMOs 64,427 (4,789 ) 41,340 (9,558 ) 105,767 (14,347 ) Tax-exempt state and municipal bonds 31,337 (498 ) — — 31,337 (498 ) Taxable state and municipal bonds 71,165 (3,337 ) 33,452 (5,188 ) 104,617 (8,525 ) Corporate bonds and other debt securities 10,668 (357 ) 1,256 (106 ) 11,924 (463 ) $ 322,393 $ (15,211 ) $ 142,056 $ (24,932 ) $ 464,449 $ (40,143 ) Held to Maturity: U.S. Treasury $ 237,630 $ (13,677 ) $ — $ — $ 237,630 $ (13,677 ) Tax-exempt state and municipal bonds 57,671 (2,314 ) 21,721 (539 ) 79,392 (2,853 ) $ 295,301 $ (15,991 ) $ 21,721 $ (539 ) $ 317,022 $ (16,530 ) Management evaluates securities in an unrealized loss position at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. In analyzing an issuer's financial condition, Management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer's financial condition. At December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 not December 31, 2023 2022. no December 31, 2022, no December 31, 2023 On January 1, 2022, ten Securities with a carrying value of approximately $3.7 million and $3.5 million were pledged as security for public deposits, letters of credit and for other purposes required or permitted by law at December 31, 2023 2022 The Company also has an investment in a fund that invests in projects qualifying for Community Reinvestment Act credit which is carried at a fair value of $1.3 million and reported in other assets at December 31, 2023 2022 |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 LOANS AND ALLOWANCE FOR CREDIT LOSSES Portfolio loans were as follows at year end (dollars in thousands): 2023 2022 Commercial and industrial $ 506,974 $ 441,716 Commercial real estate: Residential developed 5,809 7,234 Unsecured to residential developers 800 — Vacant and unimproved 39,534 36,270 Commercial development 84 103 Residential improved 123,875 112,791 Commercial improved 260,188 259,281 Manufacturing and industrial 154,809 121,924 Total commercial real estate 585,099 537,603 Consumer Residential mortgage 189,818 139,148 Unsecured 129 121 Home equity 53,039 56,321 Other secured 3,327 2,839 Total consumer 246,313 198,429 Total loans 1,338,386 1,177,748 Allowance for credit losses (17,442 ) (15,285 ) $ 1,320,944 $ 1,162,463 The totals above are shown net of deferred fees and costs. Deferred fees on loans totaled $1.3 million and $1.3 million at December 31, 2023 2022 December 31, 2023 2022 The following tables present the activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2023 2022 2023 Commercial and Industrial Commercial Real Estate Consumer Unallocated Total Beginning balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Impact of adoption of ASU 2016-03 1,299 (212 ) 389 — 1,476 Charge-offs — — (116 ) — (116 ) Recoveries 33 100 114 — 247 Provision for credit losses (1) (57 ) 96 530 (19 ) 550 Ending Balance $ 6,871 $ 7,164 $ 3,375 $ 32 $ 17,442 2022 Commercial and Industrial Commercial Real Estate Consumer Unallocated Total Beginning balance $ 5,176 $ 8,051 $ 2,633 $ 29 $ 15,889 Charge-offs (38 ) — (126 ) — (164 ) Recoveries 191 300 194 — 685 Provision for credit losses (1) 267 (1,171 ) (243 ) 22 (1,125 ) Ending Balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 ( 1 January 1, 2023, January 1, 2023, The following table presents gross charge-offs for the year ended December 31, 2023 Term Loans By Origination Year Revolving December 31, 2023 2023 2022 2021 2020 2019 Prior Loans Total Commercial and industrial $ — $ — $ — $ — $ — $ — $ — $ — Commercial development — — — — — — — — Commercial improved — — — — — — — — Manufacturing and industrial — — — — — — — — Residential development — — — — — — — — Residential improved — — — — — — — — Vacant and unimproved — — — — — — — — Total commercial — — — — — — — — Residential mortgage — — — — — — — — Consumer unsecured — — — — — — — — Home equity — — — — — — — — Other — — — — — — 116 116 Total consumer — — — — — — 116 116 Total loans $ — $ — $ — $ — $ — $ — $ 116 $ 116 Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. Under CECL for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance on the fair value of collateral. The allowance is calculated on an individual loan basis of the shortfall between the fair value of the loan's collateral, which is adjusted for liquidation costs/discounts, and the loan's amortized cost. If the fair value of the collateral exceeds the loan's amortized cost, no There have been no The amortized cost of collateral-dependent loans by class as of December 31, 2023 Collateral Type Allowance December 31, 2023 Real Estate Other Allocated Commercial and industrial $ — $ — $ — Commercial real estate: Residential developed — — — Unsecured to residential developers — — — Vacant and unimproved — — — Commercial development — — — Residential improved 26 — — Commercial improved 292 — 17 Manufacturing and industrial 1,136 — — 1,454 — 17 Consumer Residential mortgage — — — Unsecured — — — Home equity — — — Other secured — — — Consumer — — — Total $ 1,454 $ — $ 17 The following tables present the balance in the allowance for credit losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2022 ( December 31, 2022 Commercial and Industrial Commercial Real Estate Consumer Unallocated Total Allowance for credit losses: Ending allowance attributable to loans: Individually reviewed for impairment $ 55 $ 20 $ 220 $ — $ 295 Collectively evaluated for impairment 5,541 7,160 2,238 51 14,990 Total ending allowance balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Loans: Individually reviewed for impairment $ 3,603 $ 518 $ 2,886 $ — $ 7,007 Collectively evaluated for impairment 438,113 537,085 195,543 — 1,170,741 Total ending loans balance $ 441,716 $ 537,603 $ 198,429 $ — $ 1,177,748 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2022 December 31, 2022 Unpaid Principal Balance Recorded Investment Allowance Allocated Year-To-Date Average Recorded Investment With no related allowance recorded: Commercial and industrial $ 3,278 $ 3,278 $ — $ 2,338 Commercial real estate: Residential improved 31 31 — 33 31 31 — 33 Consumer — — — — Total with no related allowance recorded $ 3,309 $ 3,309 $ — $ 2,371 With an allowance recorded: Commercial and industrial $ 325 $ 325 $ 55 $ 365 Commercial real estate: Commercial improved 307 307 9 313 Manufacturing and industrial 180 180 11 185 487 487 20 498 Consumer: Residential mortgage 2,653 2,653 202 2,619 Unsecured 29 29 2 29 Home equity 204 204 16 234 2,886 2,886 220 2,882 Total with an allowance recorded $ 3,698 $ 3,698 $ 295 $ 3,745 Total $ 7,007 $ 7,007 $ 295 $ 6,116 Nonaccrual loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following tables present the recorded investment in nonaccrual and loans past due over 90 December 31, 2023 2022 December 31, 2023 Nonaccrual with No Allowance Nonaccrual with Allowance Total Nonaccrual Over 90 days Accruing Total Nonperforming Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 1 1 — 1 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 1 1 — 1 Total $ — $ 1 $ 1 $ — $ 1 December 31, 2022 Nonaccrual Nonaccrual Nonaccrual Over 90 days Accruing Total Nonperforming Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 78 78 — 78 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 78 78 — 78 Total $ — $ 78 $ 78 $ — $ 78 No interest income was recognized on nonaccrual loans during the years ended December 31, 2023 2022. The following table presents the aging of the recorded investment in past due loans as of December 31, 2023 December 31, 2023 30-90 Days Greater Than 90 Days Total Past Due Current Total Commercial and industrial $ — $ — $ — $ 506,974 $ 506,974 Commercial real estate: Residential developed — — — 5,809 5,809 Unsecured to residential developers — — — 800 800 Vacant and unimproved — — — 39,534 39,534 Commercial development — — — 84 84 Residential improved — — — 123,875 123,875 Commercial improved — — — 260,188 260,188 Manufacturing and industrial — — — 154,809 154,809 — — — 585,099 585,099 Consumer: Residential mortgage 44 — 44 189,774 189,818 Unsecured — — — 129 129 Home equity — — — 53,039 53,039 Other secured — — — 3,327 3,327 44 — 44 246,269 246,313 Total $ 44 $ — $ 44 $ 1,338,342 $ 1,338,386 The following table presents the aging of the recorded investment in past due loans as of December 31, 2022 December 31, 2022 30-90 Days Greater Than 90 Days Total Past Due Current Total Commercial and industrial $ — $ — $ — $ 441,716 $ 441,716 Commercial real estate: Residential developed — — — 7,234 7,234 Unsecured to residential developers — — — — — Vacant and unimproved — — — 36,270 36,270 Commercial development — — — 103 103 Residential improved — — — 112,791 112,791 Commercial improved 71 — 71 259,210 259,281 Manufacturing and industrial — — — 121,924 121,924 71 — 71 537,532 537,603 Consumer: Residential mortgage — 77 77 139,071 139,148 Unsecured — — — 121 121 Home equity 24 — 24 56,297 56,321 Other secured — — — 2,839 2,839 24 77 101 198,328 198,429 Total $ 95 $ 77 $ 172 $ 1,177,576 $ 1,177,748 At times, the Company will modify terms of a loan to allow the customer to mitigate the risk of foreclosure by meeting a lower loan payment requirement based upon their current cash flow. These may two first second second first may six As with other individually reviewed loans, an allowance for credit loss is estimated for each such modification made to borrowers experiencing financial difficulty based on the most likely source of repayment for each loan. For commercial real estate loans that are collateral dependent, the allowance is computed based on the fair value of the underlying collateral, less estimated costs to sell. For individually reviewed commercial loans where repayment is expected from cash flows from business operations, the allowance is computed based on a discounted cash flow computation. Certain groups of such loans, such as residential mortgages, have common characteristics and for them the allowance is computed based on a discounted cash flow computation on the change in weighted rate for the pool. The allowance allocations for commercial modifications to borrowers experiencing financial difficulty where we have reduced the contractual interest rate are computed by measuring cash flows using the new payment terms discounted at the original contractual rate. The following table presents information regarding modifications to borrowers experiencing financial difficulty as of December 31, 2023 December 31, 2023 Number of Loans Outstanding Recorded Balance Percentage to Total Loans Commercial and industrial 2 $ 244 0.02 % Commercial real estate 3 485 0.04 % Consumer 31 2,584 0.19 % 36 $ 3,313 0.25 % At December 31, 2023, December 31, 2023, no twelve December 31, 2023. 2015 The following table presents the amount of accruing modifications that were on nonaccrual status prior to the modification, accruing at the time of modification and those that were upgraded to accruing status after receiving six December 31, 2023 ( 2023 Accruing - nonaccrual at modification $ — Accruing - accruing at modification 3,313 Accruing - upgraded to accruing after six consecutive payments — $ 3,313 There was one two December 31, 2023. three December 31, 2022. Payment defaults on modifications to borrowers experiencing financial difficulty have been minimal and during the twelve December 31, 2023 2022, 90 12 not Credit Quality Indicators: eight 5 8 7, first 4 zero 1. 2. 3. 4. may 5. 6. may may not 7. no one may 8. no The following table summarizes loan ratings by grade for commercial loans as of December 31, 2023 ( Term Loans Amortized Cost Basis By Origination Year and Risk Grades December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Commercial and industrial Grades 1-3 $ 44,605 $ 50,019 $ 14,727 $ 4,795 $ 11,941 $ 33,652 $ 64,840 $ 224,579 Grade 4 83,219 41,778 18,081 12,245 1,954 42,601 70,902 270,780 Grade 5 — 1,254 49 269 2 1,559 8,459 11,592 Grade 6 — — 5 — — 18 — 23 Grade 7-8 — — — — — — — — $ 127,824 $ 93,051 $ 32,862 $ 17,309 $ 13,897 $ 77,830 $ 144,201 $ 506,974 Residential development Grades 1-3 $ — $ — $ — $ — $ — $ — $ — $ — Grade 4 887 102 — — — — 4,820 5,809 Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 887 $ 102 $ — $ — $ — $ — $ 4,820 $ 5,809 Unsecured to residential developers Grades 1-3 $ — $ — $ — $ — $ — $ — $ 800 $ 800 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ — $ — $ — $ — $ — $ 800 $ 800 Vacant and unimproved Grades 1-3 $ 928 $ 7,118 $ 9,694 $ 6,703 $ — $ 70 $ 520 $ 25,033 Grade 4 2,961 1,315 729 7,811 154 — 207 13,177 Grade 5 1,324 — — — — — — 1,324 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 5,213 $ 8,433 $ 10,423 $ 14,514 $ 154 $ 70 $ 727 $ 39,534 Commercial development Grades 1-3 $ — $ 84 $ — $ — $ — $ — $ — $ 84 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ 84 $ — $ — $ — $ — $ — $ 84 Residential improved Grades 1-3 $ 5,708 $ 13,755 $ 1,235 $ 8,408 $ 248 $ 4,511 $ 719 $ 34,584 Grade 4 2,106 545 34,461 1,173 7,021 15,188 28,771 89,265 Grade 5 — — 26 — — — — 26 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 7,814 $ 14,300 $ 35,722 $ 9,581 $ 7,269 $ 19,699 $ 29,490 $ 123,875 Commercial improved Grades 1-3 $ 13,475 $ 19,837 $ 49,452 $ 18,894 $ 11,866 $ 11,526 $ 4,851 $ 129,901 Grade 4 11,627 34,347 20,551 30,722 24,118 2,033 1,754 125,152 Grade 5 — 22 — — 1,761 3,060 — 4,843 Grade 6 — — 292 — — — — 292 Grade 7-8 — — — — — — — — $ 25,102 $ 54,206 $ 70,295 $ 49,616 $ 37,745 $ 16,619 $ 6,605 $ 260,188 Manufacturing and industrial Grades 1-3 $ 8,005 $ 41,463 $ 5,742 $ 6,417 $ 4,261 $ 3,756 $ 802 $ 70,446 Grade 4 16,604 26,292 12,028 7,412 5,467 12,924 350 81,077 Grade 5 167 — — — — 295 — 462 Grade 6 232 — — — — 2,592 — 2,824 Grade 7-8 — — — — — — — — $ 25,008 $ 67,755 $ 17,770 $ 13,829 $ 9,728 $ 19,567 $ 1,152 $ 154,809 Total Commercial Grades 1-3 $ 72,721 $ 132,276 $ 80,850 $ 45,217 $ 28,316 $ 53,515 $ 72,532 $ 485,427 Grade 4 117,404 104,379 85,850 59,363 38,714 72,746 106,804 585,260 Grade 5 1,491 1,276 75 269 1,763 4,914 8,459 18,247 Grade 6 232 — 297 — — 2,610 — 3,139 Grade 7-8 — — — — — — — — $ 191,848 $ 237,931 $ 167,072 $ 104,849 $ 68,793 $ 133,785 $ 187,795 $ 1,092,073 As of December 31, 2022, December 31, 2022 1 2 3 4 5 6 7 8 Total Commercial and industrial $ 15,040 $ 21,451 $ 175,762 $ 220,987 $ 8,309 $ 167 $ — $ — $ 441,716 Commercial real estate: Residential developed — — — 7,234 — — — — 7,234 Unsecured to residential developers — — — — — — — — — Vacant and unimproved — 1,231 18,406 16,633 — — — — 36,270 Commercial development — — 103 — — — — — 103 Residential improved — — 25,585 87,176 30 — — — 112,791 Commercial improved — 17,802 83,769 151,641 5,762 307 — — 259,281 Manufacturing & industrial — 11,422 32,977 73,566 1,646 2,313 — — 121,924 $ 15,040 $ 51,906 $ 336,602 $ 557,237 $ 15,747 $ 2,787 $ — $ — $ 979,319 The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. For consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following tables present the recorded investment in consumer loans by year of origination and based on delinquency status at December 31, 2023 ( Term Loans Amortized Cost Basis By Origination Year December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Residential mortgage Performing $ 71,574 $ 39,537 $ 25,400 $ 9,588 $ 4,868 $ 27,510 $ 11,341 $ 189,818 Nonperforming — — — — — — — — $ 71,574 $ 39,537 $ 25,400 $ 9,588 $ 4,868 $ 27,510 $ 11,341 $ 189,818 Consumer unsecured Performing $ — $ — $ — $ 11 $ 13 $ — $ 105 $ 129 Nonperforming — — — — — — — — $ — $ — $ — $ 11 $ 13 $ — $ 105 $ 129 Home equity Performing $ 518 $ 661 $ 217 $ 451 $ 209 $ 1,866 $ 49,117 $ 53,039 Nonperforming — — — — — — — — $ 518 $ 661 $ 217 $ 451 $ 209 $ 1,866 $ 49,117 $ 53,039 Other Performing $ 1,752 $ 658 $ 545 $ 220 $ 32 $ 120 $ — $ 3,327 Nonperforming — — — — — — — — $ 1,752 $ 658 $ 545 $ 220 $ 32 $ 120 $ — $ 3,327 Total Retail $ 73,844 $ 40,856 $ 26,162 $ 10,270 $ 5,122 $ 29,496 $ 60,563 $ 246,313 The following table presents the recorded investment in consumer loans based on payment status at December 31, 2022 ( December 31, 2022 Residential Mortgage Consumer Unsecured Home Equity Consumer Other Performing $ 139,071 $ 121 $ 56,321 $ 2,839 Nonperforming 77 — — — Total $ 139,148 $ 121 $ 56,321 $ 2,839 |
Note 4 - Other Real Estate Owne
Note 4 - Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | NOTE 4 OTHER REAL ESTATE OWNED Other real estate owned was as follows (dollars in thousands): 2023 2022 Beginning balance $ 2,343 $ 2,369 Additions, transfers from loans — — Proceeds from sales of other real estate owned and repossessed assets (2,699 ) (47 ) Valuation allowance reversal upon sale — (26 ) Gain (loss) on sales of other real estate owned and repossessed assets 356 47 — 2,343 Less: valuation allowance — — Ending balance $ — $ 2,343 Activity in the valuation allowance was as follows (dollars in thousands): 2023 2022 Beginning balance $ — $ 26 Additions charged to expense — — Reversals upon sale — (26 ) Ending balance $ — $ — At December 31, 2023 |
Note 5 - Fair Value
Note 5 - Fair Value | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5 FAIR VALUE ASC Topic 820, Fair Value Measurements and Disclosures three may Level 1 : Level 2 : 1 not Level 3 : Investment Securities: 2 3 Loans Held for Sale: third 2 Impaired Loans one three no 3. may 3 Collateral Dependent Loans one two no 3. may 3 Interest Rate Swaps: third 2. Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands): Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2023 Available for sale securities U.S. Treasury and federal agency securities $ 245,492 $ — $ 245,492 $ — U.S. Agency MBS and CMOs 111,336 — 111,336 — Tax-exempt state and municipal bonds 30,597 — 30,597 — Taxable state and municipal bonds 110,076 — 110,076 — Corporate bonds and other debt securities 11,297 — 11,297 — Other equity securities 1,318 — 1,318 — Loans held for sale — — — — Interest rate swaps 4,856 — 4,856 — Total assets measured at fair value on recurring basis $ 514,972 $ — $ 514,972 $ — Interest rate swaps $ (4,856 ) $ — $ (4,856 ) $ — Total liabilities measured at fair value on recurring basis $ (4,856 ) $ — $ (4,856 ) $ — December 31, 2022 Available for sale securities U.S. Treasury and federal agency securities $ 224,634 $ — $ 224,634 $ — U.S. Agency MBS and CMOs 113,818 — 113,818 — Tax-exempt state and municipal bonds 36,710 — 36,710 — Taxable state and municipal bonds 112,171 — 112,171 — Corporate bonds and other debt securities 11,924 — 11,924 — Other equity securities 1,304 — 1,304 — Loans held for sale 215 — 215 — Interest rate swaps 6,463 — 6,463 — Total assets measured at fair value on recurring basis $ 507,239 $ — $ 507,239 $ — Interest rate swaps $ (6,463 ) $ — $ (6,463 ) $ — Total liabilities measured at fair value on recurring basis $ (6,463 ) $ — $ (6,463 ) $ — Assets measured at fair value on a non-recurring basis are summarized below (in thousands): Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2023 Collateral-dependent loans $ 303 $ — $ — $ 303 December 31, 2022 Impaired loans $ 328 $ — $ — $ 328 Quantitative information about Level 3 Asset Fair Value Valuation Technique Unobservable Inputs Range % (Weighted Average) December 31, 2023 Collateral-dependent loans $ 303 Sales comparison approach Adjustment for differences between comparable sales 2.0 to 41.0 (37.5) Income approach Capitalization rate 7.5 to 8.5 (8.4) Asset Fair Value Valuation Technique Unobservable Inputs Range % (Weighted Average) December 31, 2022 Impaired loans $ 328 Sales comparison approach Adjustment for differences between comparable sales 1.5 to 20.0 (18.3) Income approach Capitalization rate 9.5 to 11.0 (10.9) The carrying amounts and estimated fair values of financial instruments, not 2023 2022 Level in Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Cash and due from banks Level 1 $ 32,317 $ 32,317 $ 51,215 $ 51,215 Federal funds sold and other short-term investments Level 1 418,035 418,035 703,955 703,955 Securities held to maturity - U.S. Treasury Level 2 251,229 242,709 251,307 237,630 Securities held to maturity - tax-exempt and muni Level 3 80,294 79,389 97,458 95,020 FHLB stock Level 3 10,211 10,211 10,211 10,211 Loans, net Level 2 1,320,641 1,308,900 1,162,135 1,131,387 Bank owned life insurance Level 3 54,249 54,249 53,345 53,345 Accrued interest receivable Level 2 8,976 8,976 7,606 7,606 Financial liabilities Deposits Level 2 (2,415,730 ) (2,417,784 ) (2,615,142 ) (2,615,860 ) Other borrowed funds Level 2 (30,000 ) (29,354 ) (30,000 ) (28,666 ) Accrued interest payable Level 2 (672 ) (672 ) (114 ) (114 ) Off-balance sheet credit-related items Loan commitments — — — — The methods and assumptions used to estimate fair value are described as follows. Carrying amount is the estimated fair value for cash and cash equivalents, bank owned life insurance, accrued interest receivable and payable, demand deposits, short-term borrowings and variable rate loans or deposits that reprice frequently and fully. Security fair values are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities as discussed above. For fixed rate loans, interest-bearing time deposits in other financial institutions and deposits, and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk (including consideration of widening credit spreads). Fair value of debt is based on current rates for similar financing. It was not not |
Note 6 - Derivatives
Note 6 - Derivatives | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 6 DERIVATIVES Derivatives not not not no The notional and fair value of derivative instruments as of December 31, 2023 2022 Notional Amount Balance Sheet Location Fair Value December 31, 2023 Derivative assets Interest rate swaps $ 54,095 Other Assets $ 4,856 Derivative liabilities Interest rate swaps 54,095 Other Liabilities 4,856 Notional Amount Balance Sheet Location Fair Value December 31, 2022 Derivative assets Interest rate swaps $ 62,661 Other Assets $ 6,463 Derivative liabilities Interest rate swaps 62,661 Other Liabilities 6,463 The fair value of interest rate swaps in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, was $4.9 million and $6.5 million as of December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 Interest rate swaps entered into with commercial loan customers had notional amounts aggregating $54.1 million as of December 31, 2023 December 31, 2022 |
Note 7 - Premise and Equipment
Note 7 - Premise and Equipment - Net | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 7 PREMISES AND EQUIPMENT NET Year-end premises and equipment were as follows (dollars in thousands): 2023 2022 Land $ 15,556 $ 15,861 Building 45,016 44,879 Leasehold improvements 248 248 Furniture and equipment 17,878 18,055 Construction in progress 85 50 78,783 79,093 Less accumulated depreciation (40,179 ) (38,787 ) $ 38,604 $ 40,306 Depreciation expense was $2.1 million and $2.3 million for 2023 2022 |
Note 8 - Leases
Note 8 - Leases | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 8 LEASES The Company enters into leases in the normal course of business. As of December 31, 2023 four March 2024 January 2026 not 12 Leases are classified as either operating or finance leases at the lease commencement date, and as previously noted, all of the Company’s leases have been determined to be operating leases. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. As most of the Company's leases do not December 31, 2023 December 31, 2022. December 31, 2023 December 31, 2022. not The right-of-use assets and lease liabilities were $775,000 and $797,000, respectively, as of December 31, 2023 December 31, 2022 Total operating lease expense charged to operations under all operating lease agreements was $478,000 in 2023 2022 Future undiscounted lease payments for operating leases with initial terms of one December 31, 2023 2024 $ 388 2025 295 2026 56 2027 56 2028 27 Thereafter — Total undiscounted lease payments 822 Effect of discounting (25 ) Present value of estimated lease payments (lease liability) $ 797 |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 9 DEPOSITS Deposits at year-end were as follows (dollars in thousands): 2023 2022 Noninterest-bearing demand $ 643,035 $ 834,879 Interest bearing demand 639,689 760,889 Savings and money market accounts 820,530 922,418 Certificates of deposit 312,476 96,956 $ 2,415,730 $ 2,615,142 The following table depicts the maturity distribution of certificates of deposit at December 31, 2023 2024 $ 303,495 2025 8,138 2026 537 2027 207 2028 38 Thereafter 61 $ 312,476 Time deposits that exceed the FDIC insurance limit of $250,000 December 31, 2023 2022 2023, no December 31, 2023 2022. |
Note 10 - Other Borrowed Funds
Note 10 - Other Borrowed Funds | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10 Other borrowed funds include advances from the Federal Home Loan Bank and borrowings from the Federal Reserve Bank. Federal Home Loan Bank Advances At year-end, advances from the Federal Home Loan Bank were as follows (dollars in thousands): Principal Terms Advance Amount Maturities Weighted Average Interest Rate December 31, 2023 Single maturity fixed rate advances $ 10,000 February 21, 2024 2.63 % Putable advances 20,000 November 13, 2024 1.81 % $ 30,000 Principal Terms Advance Amount Maturities Weighted Average Interest Rate December 31, 2022 Single maturity fixed rate advances $ 10,000 February 21, 2024 2.63 % Putable advances 20,000 November 13, 2024 1.81 % $ 30,000 Each advance is subject to a prepayment fee if paid prior to its maturity date. Fixed rate advances are payable at maturity. Amortizable mortgage advances are fixed rate advances with scheduled repayments based upon amortization to maturity. These advances were collateralized by residential and commercial real estate loans totaling $473.1 million and $446.1 million under a blanket lien arrangement at December 31, 2023 2022 December 31, 2023 one November 13, 2020. not Scheduled repayments of FHLB advances as of December 31, 2023 2024 $ 30,000 2025 — 2026 — 2027 — 2028 — Thereafter — $ 30,000 Federal Reserve Bank Borrowings The Company has a financing arrangement with the Federal Reserve Bank. There were no borrowings outstanding at December 31, 2023 2022 December 31, 2023 2022 March 2023, no one no December 31, 2023 March 11, 2024. |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | N OTE 11 RELATED PARTY TRANSACTIONS Loans to principal officers, directors, and their affiliates were as follows (dollars in thousands). 2023 2022 Beginning balance $ 25,907 $ 25,779 New loans and renewals 50,100 14,535 Repayments and renewals (52,510 ) (14,407 ) Effect of changes in related parties — — Ending balance $ 23,497 $ 25,907 Deposits from principal officers, directors, and affiliates at December 31, 2023 2022 During 2015, 1 one December 31, 2023 2022 |
Note 12 - Stock-Based Compensat
Note 12 - Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 12 STOCK-BASED COMPENSATION On May 5, 2015, 2015 2015 2015 “2015 December 31, 2023 2015 Restricted Stock Awards Restricted stock awards have vesting periods of three one third no Nonvested Stock Awards Shares Weighted-Average Grant-Date Fair Value Aggregate Intrinsic Value Outstanding at January 1, 2023 158,087 $ 9.62 $ 1,783,221 Granted 82,860 9.81 934,661 Vested (94,834 ) 9.25 (1,069,728 ) Forfeited (5,008 ) 8.98 (56,490 ) Outstanding at December 31, 2023 141,105 $ 10.01 $ 1,591,664 Compensation cost related to restricted stock awards totaled $820,000 and $703,000 for 2023 2022 As of December 31, 2023 2023 2022 |
Note 13 - Employee Benefits
Note 13 - Employee Benefits | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 13 EMPLOYEE BENEFITS The Company sponsors a 401 may first 2023 2022 |
Note 14 - Earnings Per Common S
Note 14 - Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 14 A reconciliation of the numerators and denominators of basic and diluted earnings per common share are as follows (dollars in thousands, except per share data): 2023 2022 Net income $ 43,224 $ 34,731 Weighted average shares outstanding, including participating stock awards - Basic 34,301,650 34,259,604 Weighted average shares outstanding - Diluted 34,301,650 34,259,604 Basic and diluted earnings per common share $ 1.26 $ 1.01 |
Note 15 - Federal Income Taxes
Note 15 - Federal Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 15 Income tax expense was as follows (dollars in thousands): 2023 2022 Current $ 9,988 $ 7,567 Deferred 535 766 $ 10,523 $ 8,333 The difference between the financial statement tax expense and amount computed by applying the statutory federal tax rate to pretax income was reconciled as follows (dollars in thousands): 2023 2022 Statutory rate 21 % 21 % Statutory rate applied to income before taxes $ 11,287 $ 9,044 Adjust for: Tax-exempt interest income (483 ) (589 ) Bank-owned life insurance (190 ) (184 ) Other, net (91 ) 62 $ 10,523 $ 8,333 The realization of deferred tax assets is largely dependent upon future taxable income, future reversals of existing taxable temporary differences and the ability to carryback losses to available tax years. In assessing the need for a valuation allowance, we consider positive and negative evidence, including taxable income in carry-back years, scheduled reversals of deferred tax liabilities, expected future taxable income and tax planning strategies. Management believes it is more likely than not December 31, 2023 The net deferred tax asset recorded included the following amounts of deferred tax assets and liabilities (dollars in thousands): 2023 2022 Deferred tax assets Allowance for credit losses $ 3,663 $ 3,210 Nonaccrual loan interest 13 12 Unrealized loss on securities available for sale 6,095 8,394 Other 262 257 Gross deferred tax assets 10,033 11,873 Valuation allowance — — Total net deferred tax assets 10,033 11,873 Deferred tax liabilities Depreciation $ (1,003 ) $ (1,098 ) Prepaid expenses (303 ) (309 ) Net deferred loan costs (35 ) (21 ) Accretion (1,139 ) (414 ) Other (351 ) (319 ) Gross deferred tax liabilities (2,831 ) (2,161 ) Deferred tax asset - net $ 7,202 $ 9,712 There were no unrecognized tax benefits at December 31, 2023 2022 not twelve no 2020. |
Note 16 - Commitments and Off B
Note 16 - Commitments and Off Balance-sheet Risk | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 16 COMMITMENTS AND OFF BALANCE-SHEET RISK Some financial instruments are used to meet customer financing needs and to reduce exposure to interest rate changes. These financial instruments include commitments to extend credit and standby letters of credit. These involve, to varying degrees, credit and interest rate risk in excess of the amount reported in the financial statements. Commitments to extend credit are agreements to lend to a customer as long as there is no third not not December 31, 2023 A summary of the contractual amounts of financial instruments with off-balance-sheet risk was as follows at year-end (dollars in thousands): 2023 2022 Commitments to extend credit $ 86,209 $ 77,384 Letters of credit 10,384 13,455 Unused lines of credit 693,392 745,674 The notional amount of commitments to fund mortgage loans to be sold into the secondary market was $0 and $0 at December 31, 2023 2022 The Bank enters into commitments to sell mortgage backed securities, which it later buys back in order to hedge its exposure to interest rate risk in its mortgage pipeline. These commitments were $1.3 million and $0 at December 31, 2023 2022 December 31, 2023 2022. At year-end 2023 30 |
Note 17 - Contingencies
Note 17 - Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | NOTE 17 CONTINGENCIES The Company and its subsidiaries periodically become defendants in certain claims and legal actions arising in the ordinary course of business. As of December 31, 2023 no |
Note 18 - Shareholders' Equity
Note 18 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 18 SHAREHOLDERS EQUITY Regulatory Capital The Company and the Bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. The prompt corrective action regulations provide five not The regulatory capital requirements include a common equity Tier 1 CET1 CET1 1 1 Actual capital levels (dollars in thousands) and minimum required levels were as follows at year-end: Actual Minimum Capital Adequacy Minimum Capital Adequacy With Capital Buffer To Be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2023 CET1 capital (to risk weighted assets) Consolidated $ 310,015 17.7 % $ 78,836 4.5 % $ 122,634 7.0 % N/A N/A Bank 300,943 17.2 78,825 4.5 122,617 7.0 $ 113,859 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 310,015 17.7 105,115 6.0 148,913 8.5 N/A N/A Bank 300,943 17.2 105,100 6.0 148,892 8.5 140,134 8.0 Total capital (to risk weighted assets) Consolidated 327,457 18.7 140,153 8.0 183,951 10.5 N/A N/A Bank 318,385 18.2 140,134 8.0 183,925 10.5 175,167 10.0 Tier 1 capital (to average assets) Consolidated 310,015 11.4 109,284 4.0 N/A N/A N/A N/A Bank 300,943 11.0 109,283 4.0 N/A N/A 136,604 5.0 December 31, 2022 CET1 capital (to risk weighted assets) Consolidated $ 278,615 16.9 % $ 74,003 4.5 % $ 115,116 7.0 % N/A N/A Bank 270,274 16.4 73,992 4.5 115,098 7.0 $ 106,877 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 278,615 16.9 98,670 6.0 139,783 8.5 N/A N/A Bank 270,274 16.4 98,655 6.0 139,762 8.5 131,540 8.0 Total capital (to risk weighted assets) Consolidated 293,900 17.9 131,561 8.0 172,673 10.5 N/A N/A Bank 285,559 17.4 131,540 8.0 172,647 10.5 164,426 10.0 Tier 1 capital (to average assets) Consolidated 278,615 9.7 114,589 4.0 N/A N/A N/A N/A Bank 270,274 9.4 114,582 4.0 N/A N/A 143,227 5.0 The Bank was categorized as “well capitalized” at December 31, 2023 2022 |
Note 19 - Condensed Financial S
Note 19 - Condensed Financial Statements (Parent Company Only) | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 19 CONDENSED FINANCIAL STATEMENTS (PARENT COMPANY ONLY) Following are condensed parent company only financial statements (dollars in thousands): CONDENSED BALANCE SHEETS 2023 2022 ASSETS Cash and cash equivalents $ 8,827 $ 8,092 Investment in Bank subsidiary 278,013 238,697 Investment in other subsidiaries — — Other assets 245 249 Total assets $ 287,085 $ 247,038 LIABILITIES AND SHAREHOLDERS' EQUITY Long-term debt — — Other liabilities — — Total liabilities $ — $ — Total shareholders' equity 287,085 247,038 Total liabilities and shareholders' equity $ 287,085 $ 247,038 CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME 2023 2022 INCOME Dividends from subsidiaries $ 12,735 $ 11,913 Other — — Total income 12,735 11,913 EXPENSE Interest expense — — Other expense 887 801 Total expense 887 801 Income before income tax and equity in undistributed earnings of subsidiaries 11,848 11,112 Equity in undistributed earnings of subsidiaries 31,189 23,445 Income before income tax 43,037 34,557 Income tax benefit (187 ) (174 ) Net income $ 43,224 $ 34,731 Comprehensive income $ 51,870 $ 3,452 CONDENSED STATEMENTS OF CASH FLOWS 2023 2022 Cash flows from operating activities Net income $ 43,224 $ 34,731 Adjustments to reconcile net income to net cash from operating activities: Equity in undistributed earnings of subsidiaries (31,189 ) (23,445 ) Stock compensation expense 124 114 Change in other assets 4 — Change in other liabilities — (17 ) Net cash from operating activities 12,163 11,383 Cash flows from investing activities Investment in subsidiaries — — Net cash from investing activities — — Cash flows from financing activities Repayment of other borrowings — — Cash dividends paid (11,285 ) (10,915 ) Repurchases of shares (143 ) (207 ) Net cash from financing activities (11,428 ) (11,122 ) Net change in cash and cash equivalents 735 261 Cash and cash equivalents at beginning of year 8,092 7,831 Cash and cash equivalents at end of year $ 8,827 $ 8,092 |
Note 20 - Quarterly Financial D
Note 20 - Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 20 QUARTERLY FINANCIAL DATA (Dollars in thousands except per share data) Earnings Per Common Share Interest Income Net Interest Income Provision for Credit Losses Net Income Basic Diluted 2023 First quarter $ 27,266 $ 22,616 $ — $ 12,004 $ 0.35 $ 0.35 Second quarter 27,120 21,146 300 10,312 0.30 0.30 Third quarter 29,787 22,244 (150 ) 11,413 0.33 0.33 Fourth quarter 29,638 21,441 400 9,495 0.28 0.28 2022 First quarter $ 13,143 $ 12,665 $ (1,500 ) $ 6,000 $ 0.18 $ 0.18 Second quarter 15,435 14,843 — 6,568 0.19 0.19 Third quarter 20,875 19,771 — 10,045 0.29 0.29 Fourth quarter 25,454 22,867 375 12,118 0.35 0.35 |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | ITEM 9B: None. |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Nature of Operations and Principles of Consolidation Macatawa Bank is a Michigan chartered bank with depository accounts insured by the Federal Deposit Insurance Corporation. The Bank operates 26 full service branch offices providing a full range of commercial and consumer banking and trust services in Kent County, Ottawa County, and northern Allegan County, Michigan. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Recent Events [Policy Text Block] | FASB issued ASU No. 2016 13, Financial Instruments Credit Losses (Topic 326 no may 2022 02, Financial Instruments - Credit Losses (Topic 326 The Company adopted these standards as required on January 1, 2023 January 1, 2023 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk December 31, 2023 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents 90 |
Cash Flow Reporting [Policy Text Block] | Cash Flow Reporting 90 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restrictions on Cash December 31, 2023 2022 |
Marketable Securities, Policy [Policy Text Block] | Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level yield method without anticipating prepayments. Gains and losses on sales are based on the amortized cost of the security sold. Accrued interest receivable on securities totaled $3.4 million at December 31, 2023 December 31, 2022 Securities Available for Sale not not 326 30 not December 31, 2023 January 1, 2023, no Securities Held to Maturity no 1 2 3 4 December 31, 2023 January 1, 2023, no For periods prior to January 1, 2023, 320, Investments Debt and Equity Instruments 1 2 3 4 not no 2022. |
Equity Securities without Readily Determinable Fair Value [Policy Text Block] | Federal Home Loan Bank (FHLB) Stock may no 2023 2022 |
Financing Receivable, Held-for-Sale [Policy Text Block] | Loans Held for Sale December 31, 2023 2022 no |
Financing Receivable, Held-for-Investment [Policy Text Block] | Loans Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the respective term of the loan using the level-yield method without anticipating prepayments. Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer loans are typically charged off no 90 All interest accrued but not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses ("ACL") - Loans may The allowance is measured on a collective pool basis when similar risk characteristics exist. Loans with similar risk characteristics are grouped into homogeneous classes, or pools, for allowance calculation. Commercial loans are divided into eight The Company's loan portfolio classes as of December 31, 2023 Commercial Loans: Commercial and Industrial Residential developed Unsecured to residential developers Vacant and unimproved Commercial development Residential improved Commercial improved Manufacturing and industrial Consumer Loans: Residential mortgage Unsecured Home equity Other secured The remaining life methodology is used for all loan pools. This nondiscounted cash flow approach projects an estimated future amortized cost basis based on current loan balance and repayment terms. Given the bank's limited loss history over the past twelve Reasonable and supportable economic forecasts have to be incorporated in determining expected losses. The forecast period represents the time frame from the current period end through the point in time that the Company can reasonably forecast. Ideally, the economic forecast period would cover the contractual terms of all loans; however, the ability to produce a forecast that is both reasonable and supportable becomes more difficult the longer the period is projected. For periods beyond the forecast period, the loss rate reverts back to the baseline lifetime loss. As of December 31, 2023 one six third twenty-five December 2023 A number of qualitative factors are considered including economic forecast uncertainty, credit quality trends, valuation trends, concentration risk, quality of loan review, changes in personnel, impact of rising interest rates, external factors and other considerations. During each reporting period, management also considers the need to adjust the baseline lifetime loss rates for factors that may The Company is also required to consider expected credit losses associated with loan commitments over the contractual period in which it is exposed to credit risk on the underlying commitments unless the obligation is unconditionally cancellable by the Company. Any allowance for off-balance sheet credit exposures is reported as an other liability on the Company's Consolidated Balance Sheet and is increased or decreased via provision for credit losses on the Company's Consolidated Statement of Income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same methodology, inputs and assumptions as the funded portion of loans at the segment level applied to the amount of commitments expected to be funded. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the respective term of the loan using the level-yield method without anticipating prepayments. Accrued interest on loans totaled $5.3 million at December 31, 2023 December 31, 2022 Accrued interest receivable for loans is included as a separate line item on the Company's Consolidated Balance Sheet. The Company elected not Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 no 120 90 All interest accrued but not |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets not |
Financing Receivable, Held-for-Investment, Foreclosed Asset [Policy Text Block] | Foreclosed Assets |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Bank Owned Life Insurance Boli [Policy Text Block[ | Bank-Owned Life Insurance (BOLI): |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-term Assets may not 2023 2022 |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments |
Loan Commitments, Policy [Policy Text Block] | Mortgage Banking Derivatives not Changes in the fair values of these interest rate lock and mortgage backed security and forward commitment derivatives are included in net gains on mortgage loans. The fair value of interest rate lock commitments was $1,000 and $0 at December 31, 2023 2022 December 31, 2023 2022 |
Revenue [Policy Text Block] | Revenue From Contracts With Customers 606, Revenue from Contracts with Customers 606” 606, No The Company’s primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not The Company generally satisfies its performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis (generally monthly) or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 Interest Income: The Company’s largest source of revenue is interest income which is primarily recognized on an accrual basis based on contractual terms written into loans and investment contracts. Noninterest Revenue: The Company derives the majority of its noninterest revenue from: ( 1 2 3 4 |
Derivatives, Reporting of Derivative Activity [Policy Text Block] | Derivatives two no December 31, 2023 December 31, 2022 |
Income Tax, Policy [Policy Text Block] | Income Taxes not" not The Company recognizes a tax position as a benefit only if it is “more likely than not” 50% not not” no The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income |
Commitments and Contingencies, Policy [Policy Text Block] | Loss Contingencies |
Stock Splits And Dividends [Policy Text Block] | Stock Splits and Dividends no |
Dividend Restriction [Policy Text Block] | Dividend Restriction |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Values of Financial Instruments not not |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting one |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Updates Accounting Standards Codification (Topic 848 Reference Rate Reform, not not 2022. ASU No. 2022 02 Financial Instruments - Credit Losses (Topic 326 310 40, December 15, 2022. January 1, 2023 not ASU No. 2023 07, egment Reporting (Topic 280 1 2 3 4 one may one 5 6 December 15, 2023, December 15, 2024. one December 31, 2024. not ASU No. 2023 09, Income Taxes (Topic 740 1 2 1 2 5 1 2 December 15, 2024. not |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2023 Available for Sale: U.S. Treasury and federal agency securities $ 256,234 $ 25 $ (10,767 ) $ 245,492 Agency MBS and CMOs 123,767 173 (12,604 ) 111,336 Tax-exempt state and municipal bonds 30,850 31 (284 ) 30,597 Taxable state and municipal bonds 115,516 105 (5,545 ) 110,076 Corporate bonds and other debt securities 11,527 3 (233 ) 11,297 $ 537,894 $ 337 $ (29,433 ) $ 508,798 Held to Maturity U.S. Treasury $ 251,229 $ — $ (8,520 ) 242,709 Tax-exempt state and municipal bonds 80,294 284 (1,189 ) 79,389 $ 331,523 $ 284 $ (9,709 ) $ 322,098 December 31, 2022 Available for Sale: U.S. Treasury and federal agency securities $ 240,921 $ 23 $ (16,310 ) $ 224,634 Agency MBS and CMOs 128,165 — (14,347 ) 113,818 Tax-exempt state and municipal bonds 37,198 10 (498 ) 36,710 Taxable state and municipal bonds 120,647 49 (8,525 ) 112,171 Corporate bonds and other debt securities 12,387 — (463 ) 11,924 $ 539,318 $ 82 $ (40,143 ) $ 499,257 Held to Maturity U.S. Treasury $ 251,307 $ — $ (13,677 ) 237,630 Tax-exempt state and municipal bonds 97,458 415 (2,853 ) 95,020 $ 348,765 $ 415 $ (16,530 ) $ 332,650 Held–to-Maturity Securities Available-for-Sale Securities Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 153,581 $ 151,849 $ 126,515 $ 124,986 Due from one to five years 165,867 158,034 281,413 266,356 Due from five to ten years 12,075 12,215 6,199 6,120 Due after ten years — — — — Agency MBS and CMOs — — 123,767 111,336 $ 331,523 $ 322,098 $ 537,894 $ 508,798 |
Unrealized Gain (Loss) on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total December 31, 2023 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available for Sale: U.S. Treasury and federal agency securities $ 15,615 $ (41 ) $ 215,712 $ (10,726 ) $ 231,327 $ (10,767 ) Agency MBS and CMOs 8,574 (52 ) 83,893 (12,552 ) 92,467 (12,604 ) Tax-exempt state and municipal bonds 8,472 (50 ) 13,296 (234 ) 21,768 (284 ) Taxable state and municipal bonds 4,667 (18 ) 93,900 (5,527 ) 98,567 (5,545 ) Corporate bonds and other debt securities — — 10,822 (233 ) 10,822 (233 ) $ 37,328 $ (161 ) $ 417,623 $ (29,272 ) $ 454,951 $ (29,433 ) Held to Maturity: U.S. Treasury $ — $ — $ 242,709 $ (8,520 ) $ 242,709 $ (8,520 ) Tax-exempt state and municipal bonds 673 (2 ) 45,513 (1,187 ) 46,186 (1,189 ) $ 673 $ (2 ) $ 288,222 $ (9,707 ) $ 288,895 $ (9,709 ) Less than 12 Months 12 Months or More Total December 31, 2022 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available for Sale: U.S. Treasury and federal agency securities $ 144,796 $ (6,230 ) $ 66,008 $ (10,080 ) $ 210,804 $ (16,310 ) Agency MBS and CMOs 64,427 (4,789 ) 41,340 (9,558 ) 105,767 (14,347 ) Tax-exempt state and municipal bonds 31,337 (498 ) — — 31,337 (498 ) Taxable state and municipal bonds 71,165 (3,337 ) 33,452 (5,188 ) 104,617 (8,525 ) Corporate bonds and other debt securities 10,668 (357 ) 1,256 (106 ) 11,924 (463 ) $ 322,393 $ (15,211 ) $ 142,056 $ (24,932 ) $ 464,449 $ (40,143 ) Held to Maturity: U.S. Treasury $ 237,630 $ (13,677 ) $ — $ — $ 237,630 $ (13,677 ) Tax-exempt state and municipal bonds 57,671 (2,314 ) 21,721 (539 ) 79,392 (2,853 ) $ 295,301 $ (15,991 ) $ 21,721 $ (539 ) $ 317,022 $ (16,530 ) |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Financing Receivables [Text Block] | 2023 2022 Commercial and industrial $ 506,974 $ 441,716 Commercial real estate: Residential developed 5,809 7,234 Unsecured to residential developers 800 — Vacant and unimproved 39,534 36,270 Commercial development 84 103 Residential improved 123,875 112,791 Commercial improved 260,188 259,281 Manufacturing and industrial 154,809 121,924 Total commercial real estate 585,099 537,603 Consumer Residential mortgage 189,818 139,148 Unsecured 129 121 Home equity 53,039 56,321 Other secured 3,327 2,839 Total consumer 246,313 198,429 Total loans 1,338,386 1,177,748 Allowance for credit losses (17,442 ) (15,285 ) $ 1,320,944 $ 1,162,463 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | 2023 Commercial and Industrial Commercial Real Estate Consumer Unallocated Total Beginning balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Impact of adoption of ASU 2016-03 1,299 (212 ) 389 — 1,476 Charge-offs — — (116 ) — (116 ) Recoveries 33 100 114 — 247 Provision for credit losses (1) (57 ) 96 530 (19 ) 550 Ending Balance $ 6,871 $ 7,164 $ 3,375 $ 32 $ 17,442 2022 Commercial and Industrial Commercial Real Estate Consumer Unallocated Total Beginning balance $ 5,176 $ 8,051 $ 2,633 $ 29 $ 15,889 Charge-offs (38 ) — (126 ) — (164 ) Recoveries 191 300 194 — 685 Provision for credit losses (1) 267 (1,171 ) (243 ) 22 (1,125 ) Ending Balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 |
Gross Charge-offs by Portfolio Segment and Origination Year [Table Text Block] | Term Loans By Origination Year Revolving December 31, 2023 2023 2022 2021 2020 2019 Prior Loans Total Commercial and industrial $ — $ — $ — $ — $ — $ — $ — $ — Commercial development — — — — — — — — Commercial improved — — — — — — — — Manufacturing and industrial — — — — — — — — Residential development — — — — — — — — Residential improved — — — — — — — — Vacant and unimproved — — — — — — — — Total commercial — — — — — — — — Residential mortgage — — — — — — — — Consumer unsecured — — — — — — — — Home equity — — — — — — — — Other — — — — — — 116 116 Total consumer — — — — — — 116 116 Total loans $ — $ — $ — $ — $ — $ — $ 116 $ 116 |
Schedule of Collateral Dependent Loans [Table Text Block] | Collateral Type Allowance December 31, 2023 Real Estate Other Allocated Commercial and industrial $ — $ — $ — Commercial real estate: Residential developed — — — Unsecured to residential developers — — — Vacant and unimproved — — — Commercial development — — — Residential improved 26 — — Commercial improved 292 — 17 Manufacturing and industrial 1,136 — — 1,454 — 17 Consumer Residential mortgage — — — Unsecured — — — Home equity — — — Other secured — — — Consumer — — — Total $ 1,454 $ — $ 17 |
Allowance For Credit Losses And Recorded Investment In Loans By Portfolio Segment [Table Text Block] | December 31, 2022 Commercial and Industrial Commercial Real Estate Consumer Unallocated Total Allowance for credit losses: Ending allowance attributable to loans: Individually reviewed for impairment $ 55 $ 20 $ 220 $ — $ 295 Collectively evaluated for impairment 5,541 7,160 2,238 51 14,990 Total ending allowance balance $ 5,596 $ 7,180 $ 2,458 $ 51 $ 15,285 Loans: Individually reviewed for impairment $ 3,603 $ 518 $ 2,886 $ — $ 7,007 Collectively evaluated for impairment 438,113 537,085 195,543 — 1,170,741 Total ending loans balance $ 441,716 $ 537,603 $ 198,429 $ — $ 1,177,748 |
Loans individually evaluated for impairment by class of loans [Table Text Block] | December 31, 2022 Unpaid Principal Balance Recorded Investment Allowance Allocated Year-To-Date Average Recorded Investment With no related allowance recorded: Commercial and industrial $ 3,278 $ 3,278 $ — $ 2,338 Commercial real estate: Residential improved 31 31 — 33 31 31 — 33 Consumer — — — — Total with no related allowance recorded $ 3,309 $ 3,309 $ — $ 2,371 With an allowance recorded: Commercial and industrial $ 325 $ 325 $ 55 $ 365 Commercial real estate: Commercial improved 307 307 9 313 Manufacturing and industrial 180 180 11 185 487 487 20 498 Consumer: Residential mortgage 2,653 2,653 202 2,619 Unsecured 29 29 2 29 Home equity 204 204 16 234 2,886 2,886 220 2,882 Total with an allowance recorded $ 3,698 $ 3,698 $ 295 $ 3,745 Total $ 7,007 $ 7,007 $ 295 $ 6,116 |
Financing Receivable, Nonaccrual [Table Text Block] | December 31, 2023 Nonaccrual with No Allowance Nonaccrual with Allowance Total Nonaccrual Over 90 days Accruing Total Nonperforming Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 1 1 — 1 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 1 1 — 1 Total $ — $ 1 $ 1 $ — $ 1 December 31, 2022 Nonaccrual Nonaccrual Nonaccrual Over 90 days Accruing Total Nonperforming Loans Commercial and industrial $ — $ — $ — $ — $ — Commercial real estate: Residential developed — — — — — Unsecured to residential developers — — — — — Vacant and unimproved — — — — — Commercial development — — — — — Residential improved — — — — — Commercial improved — — — — — Manufacturing and industrial — — — — — — — — — — Consumer: Residential mortgage — 78 78 — 78 Unsecured — — — — — Home equity — — — — — Other secured — — — — — — 78 78 — 78 Total $ — $ 78 $ 78 $ — $ 78 |
Financing Receivable, Past Due [Table Text Block] | December 31, 2023 30-90 Days Greater Than 90 Days Total Past Due Current Total Commercial and industrial $ — $ — $ — $ 506,974 $ 506,974 Commercial real estate: Residential developed — — — 5,809 5,809 Unsecured to residential developers — — — 800 800 Vacant and unimproved — — — 39,534 39,534 Commercial development — — — 84 84 Residential improved — — — 123,875 123,875 Commercial improved — — — 260,188 260,188 Manufacturing and industrial — — — 154,809 154,809 — — — 585,099 585,099 Consumer: Residential mortgage 44 — 44 189,774 189,818 Unsecured — — — 129 129 Home equity — — — 53,039 53,039 Other secured — — — 3,327 3,327 44 — 44 246,269 246,313 Total $ 44 $ — $ 44 $ 1,338,342 $ 1,338,386 December 31, 2022 30-90 Days Greater Than 90 Days Total Past Due Current Total Commercial and industrial $ — $ — $ — $ 441,716 $ 441,716 Commercial real estate: Residential developed — — — 7,234 7,234 Unsecured to residential developers — — — — — Vacant and unimproved — — — 36,270 36,270 Commercial development — — — 103 103 Residential improved — — — 112,791 112,791 Commercial improved 71 — 71 259,210 259,281 Manufacturing and industrial — — — 121,924 121,924 71 — 71 537,532 537,603 Consumer: Residential mortgage — 77 77 139,071 139,148 Unsecured — — — 121 121 Home equity 24 — 24 56,297 56,321 Other secured — — — 2,839 2,839 24 77 101 198,328 198,429 Total $ 95 $ 77 $ 172 $ 1,177,576 $ 1,177,748 |
Financing Receivable, Modified [Table Text Block] | December 31, 2023 Number of Loans Outstanding Recorded Balance Percentage to Total Loans Commercial and industrial 2 $ 244 0.02 % Commercial real estate 3 485 0.04 % Consumer 31 2,584 0.19 % 36 $ 3,313 0.25 % 2023 Accruing - nonaccrual at modification $ — Accruing - accruing at modification 3,313 Accruing - upgraded to accruing after six consecutive payments — $ 3,313 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Term Loans Amortized Cost Basis By Origination Year and Risk Grades December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Commercial and industrial Grades 1-3 $ 44,605 $ 50,019 $ 14,727 $ 4,795 $ 11,941 $ 33,652 $ 64,840 $ 224,579 Grade 4 83,219 41,778 18,081 12,245 1,954 42,601 70,902 270,780 Grade 5 — 1,254 49 269 2 1,559 8,459 11,592 Grade 6 — — 5 — — 18 — 23 Grade 7-8 — — — — — — — — $ 127,824 $ 93,051 $ 32,862 $ 17,309 $ 13,897 $ 77,830 $ 144,201 $ 506,974 Residential development Grades 1-3 $ — $ — $ — $ — $ — $ — $ — $ — Grade 4 887 102 — — — — 4,820 5,809 Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 887 $ 102 $ — $ — $ — $ — $ 4,820 $ 5,809 Unsecured to residential developers Grades 1-3 $ — $ — $ — $ — $ — $ — $ 800 $ 800 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ — $ — $ — $ — $ — $ 800 $ 800 Vacant and unimproved Grades 1-3 $ 928 $ 7,118 $ 9,694 $ 6,703 $ — $ 70 $ 520 $ 25,033 Grade 4 2,961 1,315 729 7,811 154 — 207 13,177 Grade 5 1,324 — — — — — — 1,324 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 5,213 $ 8,433 $ 10,423 $ 14,514 $ 154 $ 70 $ 727 $ 39,534 Commercial development Grades 1-3 $ — $ 84 $ — $ — $ — $ — $ — $ 84 Grade 4 — — — — — — — — Grade 5 — — — — — — — — Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ — $ 84 $ — $ — $ — $ — $ — $ 84 Residential improved Grades 1-3 $ 5,708 $ 13,755 $ 1,235 $ 8,408 $ 248 $ 4,511 $ 719 $ 34,584 Grade 4 2,106 545 34,461 1,173 7,021 15,188 28,771 89,265 Grade 5 — — 26 — — — — 26 Grade 6 — — — — — — — — Grade 7-8 — — — — — — — — $ 7,814 $ 14,300 $ 35,722 $ 9,581 $ 7,269 $ 19,699 $ 29,490 $ 123,875 Commercial improved Grades 1-3 $ 13,475 $ 19,837 $ 49,452 $ 18,894 $ 11,866 $ 11,526 $ 4,851 $ 129,901 Grade 4 11,627 34,347 20,551 30,722 24,118 2,033 1,754 125,152 Grade 5 — 22 — — 1,761 3,060 — 4,843 Grade 6 — — 292 — — — — 292 Grade 7-8 — — — — — — — — $ 25,102 $ 54,206 $ 70,295 $ 49,616 $ 37,745 $ 16,619 $ 6,605 $ 260,188 Manufacturing and industrial Grades 1-3 $ 8,005 $ 41,463 $ 5,742 $ 6,417 $ 4,261 $ 3,756 $ 802 $ 70,446 Grade 4 16,604 26,292 12,028 7,412 5,467 12,924 350 81,077 Grade 5 167 — — — — 295 — 462 Grade 6 232 — — — — 2,592 — 2,824 Grade 7-8 — — — — — — — — $ 25,008 $ 67,755 $ 17,770 $ 13,829 $ 9,728 $ 19,567 $ 1,152 $ 154,809 Total Commercial Grades 1-3 $ 72,721 $ 132,276 $ 80,850 $ 45,217 $ 28,316 $ 53,515 $ 72,532 $ 485,427 Grade 4 117,404 104,379 85,850 59,363 38,714 72,746 106,804 585,260 Grade 5 1,491 1,276 75 269 1,763 4,914 8,459 18,247 Grade 6 232 — 297 — — 2,610 — 3,139 Grade 7-8 — — — — — — — — $ 191,848 $ 237,931 $ 167,072 $ 104,849 $ 68,793 $ 133,785 $ 187,795 $ 1,092,073 December 31, 2022 1 2 3 4 5 6 7 8 Total Commercial and industrial $ 15,040 $ 21,451 $ 175,762 $ 220,987 $ 8,309 $ 167 $ — $ — $ 441,716 Commercial real estate: Residential developed — — — 7,234 — — — — 7,234 Unsecured to residential developers — — — — — — — — — Vacant and unimproved — 1,231 18,406 16,633 — — — — 36,270 Commercial development — — 103 — — — — — 103 Residential improved — — 25,585 87,176 30 — — — 112,791 Commercial improved — 17,802 83,769 151,641 5,762 307 — — 259,281 Manufacturing & industrial — 11,422 32,977 73,566 1,646 2,313 — — 121,924 $ 15,040 $ 51,906 $ 336,602 $ 557,237 $ 15,747 $ 2,787 $ — $ — $ 979,319 Term Loans Amortized Cost Basis By Origination Year December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Total Residential mortgage Performing $ 71,574 $ 39,537 $ 25,400 $ 9,588 $ 4,868 $ 27,510 $ 11,341 $ 189,818 Nonperforming — — — — — — — — $ 71,574 $ 39,537 $ 25,400 $ 9,588 $ 4,868 $ 27,510 $ 11,341 $ 189,818 Consumer unsecured Performing $ — $ — $ — $ 11 $ 13 $ — $ 105 $ 129 Nonperforming — — — — — — — — $ — $ — $ — $ 11 $ 13 $ — $ 105 $ 129 Home equity Performing $ 518 $ 661 $ 217 $ 451 $ 209 $ 1,866 $ 49,117 $ 53,039 Nonperforming — — — — — — — — $ 518 $ 661 $ 217 $ 451 $ 209 $ 1,866 $ 49,117 $ 53,039 Other Performing $ 1,752 $ 658 $ 545 $ 220 $ 32 $ 120 $ — $ 3,327 Nonperforming — — — — — — — — $ 1,752 $ 658 $ 545 $ 220 $ 32 $ 120 $ — $ 3,327 Total Retail $ 73,844 $ 40,856 $ 26,162 $ 10,270 $ 5,122 $ 29,496 $ 60,563 $ 246,313 December 31, 2022 Residential Mortgage Consumer Unsecured Home Equity Consumer Other Performing $ 139,071 $ 121 $ 56,321 $ 2,839 Nonperforming 77 — — — Total $ 139,148 $ 121 $ 56,321 $ 2,839 |
Note 4 - Other Real Estate Ow_2
Note 4 - Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Other Real Estate Owned [Table Text Block] | 2023 2022 Beginning balance $ 2,343 $ 2,369 Additions, transfers from loans — — Proceeds from sales of other real estate owned and repossessed assets (2,699 ) (47 ) Valuation allowance reversal upon sale — (26 ) Gain (loss) on sales of other real estate owned and repossessed assets 356 47 — 2,343 Less: valuation allowance — — Ending balance $ — $ 2,343 |
Schedule of Valuation Allowance For Other Real Estate Owned [Table Text Block] | 2023 2022 Beginning balance $ — $ 26 Additions charged to expense — — Reversals upon sale — (26 ) Ending balance $ — $ — |
Note 5 - Fair Value (Tables)
Note 5 - Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2023 Available for sale securities U.S. Treasury and federal agency securities $ 245,492 $ — $ 245,492 $ — U.S. Agency MBS and CMOs 111,336 — 111,336 — Tax-exempt state and municipal bonds 30,597 — 30,597 — Taxable state and municipal bonds 110,076 — 110,076 — Corporate bonds and other debt securities 11,297 — 11,297 — Other equity securities 1,318 — 1,318 — Loans held for sale — — — — Interest rate swaps 4,856 — 4,856 — Total assets measured at fair value on recurring basis $ 514,972 $ — $ 514,972 $ — Interest rate swaps $ (4,856 ) $ — $ (4,856 ) $ — Total liabilities measured at fair value on recurring basis $ (4,856 ) $ — $ (4,856 ) $ — December 31, 2022 Available for sale securities U.S. Treasury and federal agency securities $ 224,634 $ — $ 224,634 $ — U.S. Agency MBS and CMOs 113,818 — 113,818 — Tax-exempt state and municipal bonds 36,710 — 36,710 — Taxable state and municipal bonds 112,171 — 112,171 — Corporate bonds and other debt securities 11,924 — 11,924 — Other equity securities 1,304 — 1,304 — Loans held for sale 215 — 215 — Interest rate swaps 6,463 — 6,463 — Total assets measured at fair value on recurring basis $ 507,239 $ — $ 507,239 $ — Interest rate swaps $ (6,463 ) $ — $ (6,463 ) $ — Total liabilities measured at fair value on recurring basis $ (6,463 ) $ — $ (6,463 ) $ — |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2023 Collateral-dependent loans $ 303 $ — $ — $ 303 December 31, 2022 Impaired loans $ 328 $ — $ — $ 328 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Asset Fair Value Valuation Technique Unobservable Inputs Range % (Weighted Average) December 31, 2023 Collateral-dependent loans $ 303 Sales comparison approach Adjustment for differences between comparable sales 2.0 to 41.0 (37.5) Income approach Capitalization rate 7.5 to 8.5 (8.4) Asset Fair Value Valuation Technique Unobservable Inputs Range % (Weighted Average) December 31, 2022 Impaired loans $ 328 Sales comparison approach Adjustment for differences between comparable sales 1.5 to 20.0 (18.3) Income approach Capitalization rate 9.5 to 11.0 (10.9) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2023 2022 Level in Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Cash and due from banks Level 1 $ 32,317 $ 32,317 $ 51,215 $ 51,215 Federal funds sold and other short-term investments Level 1 418,035 418,035 703,955 703,955 Securities held to maturity - U.S. Treasury Level 2 251,229 242,709 251,307 237,630 Securities held to maturity - tax-exempt and muni Level 3 80,294 79,389 97,458 95,020 FHLB stock Level 3 10,211 10,211 10,211 10,211 Loans, net Level 2 1,320,641 1,308,900 1,162,135 1,131,387 Bank owned life insurance Level 3 54,249 54,249 53,345 53,345 Accrued interest receivable Level 2 8,976 8,976 7,606 7,606 Financial liabilities Deposits Level 2 (2,415,730 ) (2,417,784 ) (2,615,142 ) (2,615,860 ) Other borrowed funds Level 2 (30,000 ) (29,354 ) (30,000 ) (28,666 ) Accrued interest payable Level 2 (672 ) (672 ) (114 ) (114 ) Off-balance sheet credit-related items Loan commitments — — — — |
Note 6 - Derivatives (Tables)
Note 6 - Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Notional Amount Balance Sheet Location Fair Value December 31, 2023 Derivative assets Interest rate swaps $ 54,095 Other Assets $ 4,856 Derivative liabilities Interest rate swaps 54,095 Other Liabilities 4,856 Notional Amount Balance Sheet Location Fair Value December 31, 2022 Derivative assets Interest rate swaps $ 62,661 Other Assets $ 6,463 Derivative liabilities Interest rate swaps 62,661 Other Liabilities 6,463 |
Note 7 - Premise and Equipmen_2
Note 7 - Premise and Equipment - Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2023 2022 Land $ 15,556 $ 15,861 Building 45,016 44,879 Leasehold improvements 248 248 Furniture and equipment 17,878 18,055 Construction in progress 85 50 78,783 79,093 Less accumulated depreciation (40,179 ) (38,787 ) $ 38,604 $ 40,306 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | 2024 $ 388 2025 295 2026 56 2027 56 2028 27 Thereafter — Total undiscounted lease payments 822 Effect of discounting (25 ) Present value of estimated lease payments (lease liability) $ 797 |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | 2023 2022 Noninterest-bearing demand $ 643,035 $ 834,879 Interest bearing demand 639,689 760,889 Savings and money market accounts 820,530 922,418 Certificates of deposit 312,476 96,956 $ 2,415,730 $ 2,615,142 |
Time Deposit Maturities [Table Text Block] | 2024 $ 303,495 2025 8,138 2026 537 2027 207 2028 38 Thereafter 61 $ 312,476 |
Note 10 - Other Borrowed Funds
Note 10 - Other Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | Principal Terms Advance Amount Maturities Weighted Average Interest Rate December 31, 2023 Single maturity fixed rate advances $ 10,000 February 21, 2024 2.63 % Putable advances 20,000 November 13, 2024 1.81 % $ 30,000 Principal Terms Advance Amount Maturities Weighted Average Interest Rate December 31, 2022 Single maturity fixed rate advances $ 10,000 February 21, 2024 2.63 % Putable advances 20,000 November 13, 2024 1.81 % $ 30,000 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | 2024 $ 30,000 2025 — 2026 — 2027 — 2028 — Thereafter — $ 30,000 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | 2023 2022 Beginning balance $ 25,907 $ 25,779 New loans and renewals 50,100 14,535 Repayments and renewals (52,510 ) (14,407 ) Effect of changes in related parties — — Ending balance $ 23,497 $ 25,907 |
Note 12 - Stock-Based Compens_2
Note 12 - Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Nonvested Share Activity [Table Text Block] | Nonvested Stock Awards Shares Weighted-Average Grant-Date Fair Value Aggregate Intrinsic Value Outstanding at January 1, 2023 158,087 $ 9.62 $ 1,783,221 Granted 82,860 9.81 934,661 Vested (94,834 ) 9.25 (1,069,728 ) Forfeited (5,008 ) 8.98 (56,490 ) Outstanding at December 31, 2023 141,105 $ 10.01 $ 1,591,664 |
Note 14 - Earnings Per Common_2
Note 14 - Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2023 2022 Net income $ 43,224 $ 34,731 Weighted average shares outstanding, including participating stock awards - Basic 34,301,650 34,259,604 Weighted average shares outstanding - Diluted 34,301,650 34,259,604 Basic and diluted earnings per common share $ 1.26 $ 1.01 |
Note 15 - Federal Income Taxes
Note 15 - Federal Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2023 2022 Current $ 9,988 $ 7,567 Deferred 535 766 $ 10,523 $ 8,333 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2023 2022 Statutory rate 21 % 21 % Statutory rate applied to income before taxes $ 11,287 $ 9,044 Adjust for: Tax-exempt interest income (483 ) (589 ) Bank-owned life insurance (190 ) (184 ) Other, net (91 ) 62 $ 10,523 $ 8,333 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2023 2022 Deferred tax assets Allowance for credit losses $ 3,663 $ 3,210 Nonaccrual loan interest 13 12 Unrealized loss on securities available for sale 6,095 8,394 Other 262 257 Gross deferred tax assets 10,033 11,873 Valuation allowance — — Total net deferred tax assets 10,033 11,873 Deferred tax liabilities Depreciation $ (1,003 ) $ (1,098 ) Prepaid expenses (303 ) (309 ) Net deferred loan costs (35 ) (21 ) Accretion (1,139 ) (414 ) Other (351 ) (319 ) Gross deferred tax liabilities (2,831 ) (2,161 ) Deferred tax asset - net $ 7,202 $ 9,712 |
Note 16 - Commitments and Off_2
Note 16 - Commitments and Off Balance-sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | 2023 2022 Commitments to extend credit $ 86,209 $ 77,384 Letters of credit 10,384 13,455 Unused lines of credit 693,392 745,674 |
Note 18 - Shareholders' Equity
Note 18 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Capital Adequacy Minimum Capital Adequacy With Capital Buffer To Be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2023 CET1 capital (to risk weighted assets) Consolidated $ 310,015 17.7 % $ 78,836 4.5 % $ 122,634 7.0 % N/A N/A Bank 300,943 17.2 78,825 4.5 122,617 7.0 $ 113,859 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 310,015 17.7 105,115 6.0 148,913 8.5 N/A N/A Bank 300,943 17.2 105,100 6.0 148,892 8.5 140,134 8.0 Total capital (to risk weighted assets) Consolidated 327,457 18.7 140,153 8.0 183,951 10.5 N/A N/A Bank 318,385 18.2 140,134 8.0 183,925 10.5 175,167 10.0 Tier 1 capital (to average assets) Consolidated 310,015 11.4 109,284 4.0 N/A N/A N/A N/A Bank 300,943 11.0 109,283 4.0 N/A N/A 136,604 5.0 December 31, 2022 CET1 capital (to risk weighted assets) Consolidated $ 278,615 16.9 % $ 74,003 4.5 % $ 115,116 7.0 % N/A N/A Bank 270,274 16.4 73,992 4.5 115,098 7.0 $ 106,877 6.5 % Tier 1 capital (to risk weighted assets) Consolidated 278,615 16.9 98,670 6.0 139,783 8.5 N/A N/A Bank 270,274 16.4 98,655 6.0 139,762 8.5 131,540 8.0 Total capital (to risk weighted assets) Consolidated 293,900 17.9 131,561 8.0 172,673 10.5 N/A N/A Bank 285,559 17.4 131,540 8.0 172,647 10.5 164,426 10.0 Tier 1 capital (to average assets) Consolidated 278,615 9.7 114,589 4.0 N/A N/A N/A N/A Bank 270,274 9.4 114,582 4.0 N/A N/A 143,227 5.0 |
Note 19 - Condensed Financial_2
Note 19 - Condensed Financial Statements (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 2023 2022 ASSETS Cash and cash equivalents $ 8,827 $ 8,092 Investment in Bank subsidiary 278,013 238,697 Investment in other subsidiaries — — Other assets 245 249 Total assets $ 287,085 $ 247,038 LIABILITIES AND SHAREHOLDERS' EQUITY Long-term debt — — Other liabilities — — Total liabilities $ — $ — Total shareholders' equity 287,085 247,038 Total liabilities and shareholders' equity $ 287,085 $ 247,038 |
Condensed Income Statement [Table Text Block] | 2023 2022 INCOME Dividends from subsidiaries $ 12,735 $ 11,913 Other — — Total income 12,735 11,913 EXPENSE Interest expense — — Other expense 887 801 Total expense 887 801 Income before income tax and equity in undistributed earnings of subsidiaries 11,848 11,112 Equity in undistributed earnings of subsidiaries 31,189 23,445 Income before income tax 43,037 34,557 Income tax benefit (187 ) (174 ) Net income $ 43,224 $ 34,731 Comprehensive income $ 51,870 $ 3,452 |
Condensed Cash Flow Statement [Table Text Block] | 2023 2022 Cash flows from operating activities Net income $ 43,224 $ 34,731 Adjustments to reconcile net income to net cash from operating activities: Equity in undistributed earnings of subsidiaries (31,189 ) (23,445 ) Stock compensation expense 124 114 Change in other assets 4 — Change in other liabilities — (17 ) Net cash from operating activities 12,163 11,383 Cash flows from investing activities Investment in subsidiaries — — Net cash from investing activities — — Cash flows from financing activities Repayment of other borrowings — — Cash dividends paid (11,285 ) (10,915 ) Repurchases of shares (143 ) (207 ) Net cash from financing activities (11,428 ) (11,122 ) Net change in cash and cash equivalents 735 261 Cash and cash equivalents at beginning of year 8,092 7,831 Cash and cash equivalents at end of year $ 8,827 $ 8,092 |
Note 20 - Quarterly Financial_2
Note 20 - Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Earnings Per Common Share Interest Income Net Interest Income Provision for Credit Losses Net Income Basic Diluted 2023 First quarter $ 27,266 $ 22,616 $ — $ 12,004 $ 0.35 $ 0.35 Second quarter 27,120 21,146 300 10,312 0.30 0.30 Third quarter 29,787 22,244 (150 ) 11,413 0.33 0.33 Fourth quarter 29,638 21,441 400 9,495 0.28 0.28 2022 First quarter $ 13,143 $ 12,665 $ (1,500 ) $ 6,000 $ 0.18 $ 0.18 Second quarter 15,435 14,843 — 6,568 0.19 0.19 Third quarter 20,875 19,771 — 10,045 0.29 0.29 Fourth quarter 25,454 22,867 375 12,118 0.35 0.35 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Jan. 01, 2023 USD ($) | Dec. 31, 2021 USD ($) | |
Number Of Full Service Branch Offices | 26 | |||
Financing Receivable, Allowance for Credit Loss | $ 17,442,000 | $ 15,285,000 | $ 15,889,000 | |
Retained Earnings (Accumulated Deficit) | 89,760,000 | 59,036,000 | ||
Deferred Income Tax Assets, Net | 7,202,000 | 9,712,000 | ||
Restricted Cash and Cash Equivalents | 0 | 0 | ||
Interest Receivable | 8,976,000 | 7,606,000 | ||
Increase (Decrease) in Loan, Held-for-Sale | 0 | 4,000,000 | ||
Tangible Asset Impairment Charges | $ 0 | |||
Stock Dividends Threshold | 20% | |||
Stock Dividend Threshold or Less | 20% | |||
Number of Operating Segments | 1 | |||
Interest Rate Swap [Member] | ||||
Derivative, Number of Instruments Held | 2 | |||
Derivative Asset, Notional Amount | $ 108,200,000 | 125,300,000 | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 4,900,000 | 6,500,000 | ||
Derivative Asset, Subject to Master Netting Arrangement, Liability Offset | 4,900,000 | 6,500,000 | ||
Loans and Finance Receivables [Member] | ||||
Interest Receivable | 5,300,000 | 4,000,000 | ||
Maximum [Member] | ||||
Peer Group Assets | $ 3,000,000,000 | |||
Maximum [Member] | Building and Building Improvements [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 40 years | |||
Maximum [Member] | Office Equipment [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 15 years | |||
Minimum [Member] | ||||
Peer Group Assets | $ 1,000,000,000 | |||
Minimum [Member] | Building and Building Improvements [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||
Minimum [Member] | Office Equipment [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||
Mortgages [Member] | ||||
Period After Which Interest Income on Delinquent Loans is Discontinued (Year) | 90 years | |||
Debt Securities [Member] | ||||
Interest Receivable | $ 3,400,000 | 3,400,000 | ||
Interest Rate Lock Commitments [Member] | ||||
Credit Risk Derivatives, at Fair Value, Net | 1,000,000 | 0 | ||
Collateralized Mortgage-Backed Securities [Member] | ||||
Credit Risk Derivatives, at Fair Value, Net | 17,000,000 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 7,164,000 | 7,180,000 | 8,051,000 | |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 6,871,000 | 5,596,000 | 5,176,000 | |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 3,375,000 | 2,458,000 | $ 2,633,000 | |
Consumer Portfolio Segment [Member] | Maximum [Member] | ||||
Financing Receivable, Threshold Period Past Due, Writeoff (Year) | 120 years | |||
Credit Concentration Risk [Member] | Loans Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Concentration Risk, Percentage | 44% | |||
Credit Concentration Risk [Member] | Loans Receivable [Member] | Commercial Portfolio Segment [Member] | ||||
Concentration Risk, Percentage | 38% | |||
Credit Concentration Risk [Member] | Loans Receivable [Member] | Residential Real Estate And Consumer Loans [Member] | ||||
Concentration Risk, Percentage | 18% | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 1,476,000 | $ 1,500,000 | ||
Off-Balance-Sheet, Credit Loss, Liability | 62,000 | |||
Retained Earnings (Accumulated Deficit) | 1,200,000 | |||
Deferred Income Tax Assets, Net | $ 323,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | (212,000) | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | 1,299,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 389,000 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) | 12 Months Ended | ||
Jan. 01, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Proceeds From Sale Of Securities | $ 0 | $ 0 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 402 | 444 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position | $ 454,951,000 | $ 464,449,000 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss | $ 29,433,000 | $ 40,143,000 | |
Held-to-Maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 58 | 76 | |
Debt Securities, Held-to-Maturity, Unrealized Loss Positions, Fair Value | $ 288,895,000 | $ 317,022,000 | |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Losses | 9,709,000 | 16,530,000 | |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Fair Value | 317,000,000 | ||
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | 16,500,000 | ||
Equity Method Investments, Fair Value Disclosure | 1,300,000 | 1,300,000 | |
Asset Pledged as Collateral [Member] | Public Deposits Letters Of Credit And For Other Purposes [Member] | |||
Debt Securities | 3,700,000 | 3,500,000 | |
US Treasury Securities [Member] | |||
Debt Securities, Held-to-Maturity, Unrealized Loss Positions, Fair Value | 242,709,000 | 237,630,000 | |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Losses | $ 8,520,000 | $ 13,677,000 | |
Number of Securities Reclassified | 10 | ||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Amortized Cost | $ 123,500,000 | ||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Unrealized Gain | $ 113,000 |
Note 2 - Securities - Amortized
Note 2 - Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 |
Amortized cost | $ 537,894 | $ 539,318 | |
Gross unrealized gains | 337 | 82 | |
Gross unrealized losses | (29,433) | (40,143) | |
Securities available for sale, at fair value | 508,798 | 499,257 | $ 499,257 |
Amortized cost | 331,523 | 348,765 | 348,765 |
Gross unrealized gains | 284 | 415 | |
Gross unrealized losses | (9,709) | (16,530) | |
Fair value | 322,098 | 332,650 | 332,650 |
Held-to-maturity, amortized cost, due in one year or less | 153,581 | ||
Held-to-maturity, fair value, due in one year or less | 151,849 | ||
Available-for-sale, amortized cost, due in one year or less | 126,515 | ||
Available-for-sale, fair value, due in one year or less | 124,986 | ||
Held-to-maturity, amortized cost, due from one to five years | 165,867 | ||
Held-to-maturity, fair value, due from one to five years | 158,034 | ||
Available-for-sale, amortized cost, due from one to five years | 281,413 | ||
Available-for-sale, fair value, due from one to five years | 266,356 | ||
Held-to-maturity, amortized cost, due from five to ten years | 12,075 | ||
Held-to-maturity, fair value, due from five to ten years | 12,215 | ||
Available-for-sale, amortized cost, due from five to ten years | 6,199 | ||
Available-for-sale, fair value, due from five to ten years | 6,120 | ||
Held-to-maturity, amortized cost, due after ten years | 0 | ||
Held-to-maturity, fair value, due after ten years | 0 | ||
Available-for-sale, amortized cost, due after ten years | 0 | ||
Available-for-sale, fair value, due after ten years | 0 | ||
Securities held to maturity (fair value 2023 - $322,098 and 2022 - $332,650) | 331,523 | 348,765 | 348,765 |
Debt securities, held to maturity, fair value | 322,098 | 332,650 | 332,650 |
Held-to-maturity, amortized cost | 331,523 | 348,765 | 348,765 |
Held-to-maturity, fair value | 322,098 | 332,650 | 332,650 |
Available-for-sale, amortized cost | 537,894 | 539,318 | |
Available-for-sale, fair value | 508,798 | $ 499,257 | 499,257 |
US Treasury and Government [Member] | |||
Amortized cost | 256,234 | 240,921 | |
Gross unrealized gains | 25 | 23 | |
Gross unrealized losses | (10,767) | (16,310) | |
Securities available for sale, at fair value | 245,492 | 224,634 | |
Available-for-sale, amortized cost | 256,234 | 240,921 | |
Available-for-sale, fair value | 245,492 | 224,634 | |
US Government Agencies Debt Securities [Member] | |||
Amortized cost | 123,767 | 128,165 | |
Gross unrealized gains | 173 | 0 | |
Gross unrealized losses | (12,604) | (14,347) | |
Securities available for sale, at fair value | 111,336 | 113,818 | |
Amortized cost | 0 | ||
Fair value | 0 | ||
Securities held to maturity (fair value 2023 - $322,098 and 2022 - $332,650) | 0 | ||
Debt securities, held to maturity, fair value | 0 | ||
Held-to-maturity, amortized cost | 0 | ||
Held-to-maturity, fair value | 0 | ||
Available-for-sale, amortized cost | 123,767 | 128,165 | |
Available-for-sale, fair value | 111,336 | 113,818 | |
Nontaxable Municipal Bonds [Member] | |||
Amortized cost | 30,850 | 37,198 | |
Gross unrealized gains | 31 | 10 | |
Gross unrealized losses | (284) | (498) | |
Securities available for sale, at fair value | 30,597 | 36,710 | |
Amortized cost | 80,294 | 97,458 | |
Gross unrealized gains | 284 | 415 | |
Gross unrealized losses | (1,189) | (2,853) | |
Fair value | 79,389 | 95,020 | |
Securities held to maturity (fair value 2023 - $322,098 and 2022 - $332,650) | 80,294 | 97,458 | |
Debt securities, held to maturity, fair value | 79,389 | 95,020 | |
Held-to-maturity, amortized cost | 80,294 | 97,458 | |
Held-to-maturity, fair value | 79,389 | 95,020 | |
Available-for-sale, amortized cost | 30,850 | 37,198 | |
Available-for-sale, fair value | 30,597 | 36,710 | |
Taxable Municipal Bonds [Member] | |||
Amortized cost | 115,516 | 120,647 | |
Gross unrealized gains | 105 | 49 | |
Gross unrealized losses | (5,545) | (8,525) | |
Securities available for sale, at fair value | 110,076 | 112,171 | |
Available-for-sale, amortized cost | 115,516 | 120,647 | |
Available-for-sale, fair value | 110,076 | 112,171 | |
Corporate Bonds And Other Debt Securities [Member] | |||
Amortized cost | 11,527 | 12,387 | |
Gross unrealized gains | 3 | 0 | |
Gross unrealized losses | (233) | (463) | |
Securities available for sale, at fair value | 11,297 | 11,924 | |
Available-for-sale, amortized cost | 11,527 | 12,387 | |
Available-for-sale, fair value | 11,297 | 11,924 | |
US Treasury Securities [Member] | |||
Amortized cost | 251,229 | 251,307 | |
Gross unrealized gains | 0 | 0 | |
Gross unrealized losses | (8,520) | (13,677) | |
Fair value | 242,709 | 237,630 | |
Securities held to maturity (fair value 2023 - $322,098 and 2022 - $332,650) | 251,229 | 251,307 | |
Debt securities, held to maturity, fair value | 242,709 | 237,630 | |
Held-to-maturity, amortized cost | 251,229 | 251,307 | |
Held-to-maturity, fair value | $ 242,709 | $ 237,630 |
Note 2 - Securities - Schedule
Note 2 - Securities - Schedule of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Available-for-sale, fair value, less than 12 months | $ 37,328 | $ 322,393 |
Available-for-sale, accumulated loss, less than 12 months | (161) | (15,211) |
Available-for-sale, fair value, more than 12 months | 417,623 | 142,056 |
Available-for-sale, accumulated loss, more than 12 months | (29,272) | (24,932) |
Available-for-sale, fair value | 454,951 | 464,449 |
Available-for-sale, accumulated loss | (29,433) | (40,143) |
Held-to-maturity, fair value, less than 12 months | 673 | 295,301 |
Held-to-maturity, accumulated loss, less than 12 months | (2) | (15,991) |
Held-to-maturity, fair value, more than 12 months | 288,222 | 21,721 |
Held-to-maturity, accumulated loss, more than 12 months | (9,707) | (539) |
Held-for-maturity, fair value | 288,895 | 317,022 |
Held-for-sale, accumulated loss | (9,709) | (16,530) |
US Treasury and Government [Member] | ||
Available-for-sale, fair value, less than 12 months | 15,615 | 144,796 |
Available-for-sale, accumulated loss, less than 12 months | (41) | (6,230) |
Available-for-sale, fair value, more than 12 months | 215,712 | 66,008 |
Available-for-sale, accumulated loss, more than 12 months | (10,726) | (10,080) |
Available-for-sale, fair value | 231,327 | 210,804 |
Available-for-sale, accumulated loss | (10,767) | (16,310) |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale, fair value, less than 12 months | 8,574 | 64,427 |
Available-for-sale, accumulated loss, less than 12 months | (52) | (4,789) |
Available-for-sale, fair value, more than 12 months | 83,893 | 41,340 |
Available-for-sale, accumulated loss, more than 12 months | (12,552) | (9,558) |
Available-for-sale, fair value | 92,467 | 105,767 |
Available-for-sale, accumulated loss | (12,604) | (14,347) |
Nontaxable Municipal Bonds [Member] | ||
Available-for-sale, fair value, less than 12 months | 8,472 | 31,337 |
Available-for-sale, accumulated loss, less than 12 months | (50) | (498) |
Available-for-sale, fair value, more than 12 months | 13,296 | 0 |
Available-for-sale, accumulated loss, more than 12 months | (234) | 0 |
Available-for-sale, fair value | 21,768 | 31,337 |
Available-for-sale, accumulated loss | (284) | (498) |
Held-to-maturity, fair value, less than 12 months | 673 | 57,671 |
Held-to-maturity, accumulated loss, less than 12 months | (2) | (2,314) |
Held-to-maturity, fair value, more than 12 months | 45,513 | 21,721 |
Held-to-maturity, accumulated loss, more than 12 months | (1,187) | (539) |
Held-for-maturity, fair value | 46,186 | 79,392 |
Held-for-sale, accumulated loss | (1,189) | (2,853) |
Taxable Municipal Bonds [Member] | ||
Available-for-sale, fair value, less than 12 months | 4,667 | 71,165 |
Available-for-sale, accumulated loss, less than 12 months | (18) | (3,337) |
Available-for-sale, fair value, more than 12 months | 93,900 | 33,452 |
Available-for-sale, accumulated loss, more than 12 months | (5,527) | (5,188) |
Available-for-sale, fair value | 98,567 | 104,617 |
Available-for-sale, accumulated loss | (5,545) | (8,525) |
Corporate Bonds And Other Debt Securities [Member] | ||
Available-for-sale, fair value, less than 12 months | 0 | 10,668 |
Available-for-sale, accumulated loss, less than 12 months | 0 | (357) |
Available-for-sale, fair value, more than 12 months | 10,822 | 1,256 |
Available-for-sale, accumulated loss, more than 12 months | (233) | (106) |
Available-for-sale, fair value | 10,822 | 11,924 |
Available-for-sale, accumulated loss | (233) | (463) |
US Treasury Securities [Member] | ||
Held-to-maturity, fair value, less than 12 months | 0 | 237,630 |
Held-to-maturity, accumulated loss, less than 12 months | 0 | (13,677) |
Held-to-maturity, fair value, more than 12 months | 242,709 | 0 |
Held-to-maturity, accumulated loss, more than 12 months | (8,520) | 0 |
Held-for-maturity, fair value | 242,709 | 237,630 |
Held-for-sale, accumulated loss | $ (8,520) | $ (13,677) |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Credit Losses (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Financing Receivable, Unamortized Loan Cost (Fee) | $ 1,300,000 | $ 1,300,000 |
Financing Receivable, Deferred Commitment Fee | 1,500,000 | 1,400,000 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modified, Accumulated | 2,584,000 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 628,000 | 449,000 |
Financing Receivable, Write Down on Financing Receivable | $ 0 | |
Contractual Interest Rate Reduction [Member] | ||
Financing Receivable, Modified, Percent of Loans Balance | 50% | |
Financing Receivable, Modified, Accumulated | $ 1,600,000 | |
Extended Maturity [Member] | ||
Financing Receivable, Modified, Percent of Loans Balance | 36% | |
Financing Receivable, Modified, Accumulated | $ 1,200,000 | |
Capitalized Interest, Renewals Below Market Rate, and A-B Note Restructures [Member] | ||
Financing Receivable, Modified, Accumulated | $ 471,000 |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Credit Losses - Schedule of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Total loans | $ 1,338,386 | $ 1,177,748 | |
Allowance for credit losses | (17,442) | (15,285) | $ (15,889) |
Net loans | 1,320,944 | 1,162,463 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Total loans | 585,099 | 537,603 | |
Allowance for credit losses | (7,164) | (7,180) | (8,051) |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | |||
Total loans | 5,809 | 7,234 | |
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | |||
Total loans | 800 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | |||
Total loans | 39,534 | 36,270 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | |||
Total loans | 84 | 103 | |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | |||
Total loans | 123,875 | 112,791 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | |||
Total loans | 260,188 | 259,281 | |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | |||
Total loans | 154,809 | 121,924 | |
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | |||
Total loans | 800 | 0 | |
Consumer Portfolio Segment [Member] | |||
Total loans | 246,313 | 198,429 | |
Allowance for credit losses | (3,375) | (2,458) | $ (2,633) |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | |||
Total loans | 189,818 | 139,148 | |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | |||
Total loans | 129 | 121 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Total loans | 53,039 | 56,321 | |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | |||
Total loans | $ 3,327 | $ 2,839 |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Balance | $ 15,285 | $ 15,889 | $ 15,285 | $ 15,889 | |||||||
Charge-offs | (116) | (164) | |||||||||
Recoveries | 247 | 685 | |||||||||
Provision (benefit) for credit losses | $ 400 | $ (150) | $ 300 | 0 | $ 375 | $ 0 | $ 0 | (1,500) | 550 | [1] | (1,125) |
Ending Balance | 17,442 | 15,285 | 17,442 | 15,285 | |||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||||
Balance | 1,476 | 1,476 | |||||||||
Ending Balance | 1,476 | 1,476 | |||||||||
Commercial Portfolio Segment [Member] | |||||||||||
Balance | 5,596 | 5,176 | 5,596 | 5,176 | |||||||
Charge-offs | 0 | (38) | |||||||||
Recoveries | 33 | 191 | |||||||||
Provision (benefit) for credit losses | (57) | [1] | 267 | ||||||||
Ending Balance | 6,871 | 5,596 | 6,871 | 5,596 | |||||||
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||||
Balance | 1,299 | 1,299 | |||||||||
Ending Balance | 1,299 | 1,299 | |||||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||||||
Balance | 7,180 | 8,051 | 7,180 | 8,051 | |||||||
Charge-offs | 0 | 0 | |||||||||
Recoveries | 100 | 300 | |||||||||
Provision (benefit) for credit losses | 96 | [1] | (1,171) | ||||||||
Ending Balance | 7,164 | 7,180 | 7,164 | 7,180 | |||||||
Commercial Real Estate Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||||
Balance | (212) | (212) | |||||||||
Ending Balance | (212) | (212) | |||||||||
Consumer Portfolio Segment [Member] | |||||||||||
Balance | 2,458 | 2,633 | 2,458 | 2,633 | |||||||
Charge-offs | (116) | (126) | |||||||||
Recoveries | 114 | 194 | |||||||||
Provision (benefit) for credit losses | 530 | [1] | (243) | ||||||||
Ending Balance | 3,375 | 2,458 | 3,375 | 2,458 | |||||||
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||||
Balance | 389 | 389 | |||||||||
Ending Balance | 389 | 389 | |||||||||
Unallocated Financing Receivables [Member] | |||||||||||
Balance | 51 | $ 29 | 51 | 29 | |||||||
Charge-offs | 0 | 0 | |||||||||
Recoveries | 0 | 0 | |||||||||
Provision (benefit) for credit losses | (19) | [1] | 22 | ||||||||
Ending Balance | $ 32 | 51 | 32 | 51 | |||||||
Unallocated Financing Receivables [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||||
Balance | $ 0 | $ 0 | |||||||||
Ending Balance | $ 0 | $ 0 | |||||||||
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Credit Losses - Gross Chargeoffs by Origination Year (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Chargeoffs, originated current year | $ 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 116 | |
Charge-offs | 116 | $ 164 |
Commercial Portfolio Segment [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | 38 |
Commercial Real Estate Portfolio Segment [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Consumer Portfolio Segment [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 116 | |
Charge-offs | 116 | $ 126 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 0 | |
Charge-offs | 0 | |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Chargeoffs, originated current year | 0 | |
Chargeoffs, originated prior year | 0 | |
Chargeoffs, originated two years prior | 0 | |
Chargeoffs, originated three years prior | 0 | |
Chargeoffs, originated four years prior | 0 | |
Chargeoffs, originated in prior years | 0 | |
Chargeoffs, revolving | 116 | |
Charge-offs | $ 116 |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Credit Losses - Schedule of Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Total loans | $ 1,338,386 | $ 1,177,748 | |
Allowance for credit loss | 17,442 | 15,285 | $ 15,889 |
Real Estate [Member] | |||
Total loans | 1,454 | ||
Other Collateral Loan [Member] | |||
Total loans | 0 | ||
Collateral Pledged [Member] | |||
Allowance for credit loss | 17 | ||
Commercial Portfolio Segment [Member] | |||
Total loans | 506,974 | 441,716 | |
Allowance for credit loss | 6,871 | 5,596 | 5,176 |
Commercial Portfolio Segment [Member] | Real Estate [Member] | |||
Total loans | 0 | ||
Commercial Portfolio Segment [Member] | Other Collateral Loan [Member] | |||
Total loans | 0 | ||
Commercial Portfolio Segment [Member] | Collateral Pledged [Member] | |||
Allowance for credit loss | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Total loans | 585,099 | 537,603 | |
Allowance for credit loss | 7,164 | 7,180 | 8,051 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | |||
Total loans | 5,809 | 7,234 | |
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | |||
Total loans | 800 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | |||
Total loans | 39,534 | 36,270 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | |||
Total loans | 84 | 103 | |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | |||
Total loans | 123,875 | 112,791 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | |||
Total loans | 260,188 | 259,281 | |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | |||
Total loans | 154,809 | 121,924 | |
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | |||
Total loans | 800 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | |||
Total loans | 1,454 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Residential Developed [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Unsecured to Residential Developers [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Vacant and Unimproved [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Commercial Development [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Residential Improved [Member] | |||
Total loans | 26 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Commercial Improved [Member] | |||
Total loans | 292 | ||
Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Manufacturing and Industrial [Member] | |||
Total loans | 1,136 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Residential Developed [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Unsecured to Residential Developers [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Vacant and Unimproved [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Commercial Development [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Residential Improved [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Commercial Improved [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Collateral Loan [Member] | Manufacturing and Industrial [Member] | |||
Total loans | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | |||
Allowance for credit loss | 17 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Residential Developed [Member] | |||
Allowance for credit loss | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Unsecured to Residential Developers [Member] | |||
Allowance for credit loss | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Vacant and Unimproved [Member] | |||
Allowance for credit loss | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Commercial Development [Member] | |||
Allowance for credit loss | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Residential Improved [Member] | |||
Allowance for credit loss | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Commercial Improved [Member] | |||
Allowance for credit loss | 17 | ||
Commercial Real Estate Portfolio Segment [Member] | Collateral Pledged [Member] | Manufacturing and Industrial [Member] | |||
Allowance for credit loss | 0 | ||
Consumer Portfolio Segment [Member] | |||
Total loans | 246,313 | 198,429 | |
Allowance for credit loss | 3,375 | 2,458 | $ 2,633 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | |||
Total loans | 189,818 | 139,148 | |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | |||
Total loans | 129 | 121 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Total loans | 53,039 | 56,321 | |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | |||
Total loans | 3,327 | $ 2,839 | |
Consumer Portfolio Segment [Member] | Real Estate [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Residential Mortgage [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Unsecured Financing Receivable [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Home Equity Loan [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Real Estate [Member] | Other Financing Receivables [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Residential Mortgage [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Unsecured Financing Receivable [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Home Equity Loan [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Other Collateral Loan [Member] | Other Financing Receivables [Member] | |||
Total loans | 0 | ||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | |||
Allowance for credit loss | 0 | ||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Residential Mortgage [Member] | |||
Allowance for credit loss | 0 | ||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Unsecured Financing Receivable [Member] | |||
Allowance for credit loss | 0 | ||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Home Equity Loan [Member] | |||
Allowance for credit loss | 0 | ||
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | Other Financing Receivables [Member] | |||
Allowance for credit loss | $ 0 |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Credit Losses - Allowance for Credit Loss and Recorded Investment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Individually reviewed for impairment, allowance for credit loss | $ 295 | ||
Collectively evaluated for impairment, allowance for credit loss | 14,990 | ||
Total ending allowance balance | $ 17,442 | 15,285 | $ 15,889 |
Individually reviewed for impairment | 7,007 | ||
Collectively evaluated for impairment | 1,170,741 | ||
Total ending loans balance | 1,338,386 | 1,177,748 | |
Commercial Portfolio Segment [Member] | |||
Individually reviewed for impairment, allowance for credit loss | 55 | ||
Collectively evaluated for impairment, allowance for credit loss | 5,541 | ||
Total ending allowance balance | 6,871 | 5,596 | 5,176 |
Individually reviewed for impairment | 3,603 | ||
Collectively evaluated for impairment | 438,113 | ||
Total ending loans balance | 506,974 | 441,716 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Individually reviewed for impairment, allowance for credit loss | 20 | ||
Collectively evaluated for impairment, allowance for credit loss | 7,160 | ||
Total ending allowance balance | 7,164 | 7,180 | 8,051 |
Individually reviewed for impairment | 518 | ||
Collectively evaluated for impairment | 537,085 | ||
Total ending loans balance | 585,099 | 537,603 | |
Consumer Portfolio Segment [Member] | |||
Individually reviewed for impairment, allowance for credit loss | 220 | ||
Collectively evaluated for impairment, allowance for credit loss | 2,238 | ||
Total ending allowance balance | 3,375 | 2,458 | 2,633 |
Individually reviewed for impairment | 2,886 | ||
Collectively evaluated for impairment | 195,543 | ||
Total ending loans balance | 246,313 | 198,429 | |
Unallocated Financing Receivables [Member] | |||
Individually reviewed for impairment, allowance for credit loss | 0 | ||
Collectively evaluated for impairment, allowance for credit loss | 51 | ||
Total ending allowance balance | $ 32 | 51 | $ 29 |
Individually reviewed for impairment | 0 | ||
Collectively evaluated for impairment | 0 | ||
Total ending loans balance | $ 0 |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Credit Losses - Loans Individually Evaluated for Impairment (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Unpaid principal, no related allowance | $ 3,309 |
Recorded investment, no related allowance | 3,309 |
Average recorded investment, no related allowance | 2,371 |
Unpaid principal, with related allowance | 3,698 |
Recorded investment, with related allowance | 3,698 |
Allowance allocated | 295 |
Average recorded investment, with related allowance | 3,745 |
Unpaid principal | 7,007 |
Recorded investment | 7,007 |
Average recorded investment | 6,116 |
Commercial Portfolio Segment [Member] | |
Unpaid principal, no related allowance | 3,278 |
Recorded investment, no related allowance | 3,278 |
Average recorded investment, no related allowance | 2,338 |
Unpaid principal, with related allowance | 325 |
Recorded investment, with related allowance | 325 |
Allowance allocated | 55 |
Average recorded investment, with related allowance | 365 |
Commercial Real Estate Portfolio Segment [Member] | |
Unpaid principal, no related allowance | 31 |
Recorded investment, no related allowance | 31 |
Average recorded investment, no related allowance | 33 |
Unpaid principal, with related allowance | 487 |
Recorded investment, with related allowance | 487 |
Allowance allocated | 20 |
Average recorded investment, with related allowance | 498 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | |
Unpaid principal, no related allowance | 31 |
Recorded investment, no related allowance | 31 |
Average recorded investment, no related allowance | 33 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | |
Unpaid principal, with related allowance | 307 |
Recorded investment, with related allowance | 307 |
Allowance allocated | 9 |
Average recorded investment, with related allowance | 313 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | |
Unpaid principal, with related allowance | 180 |
Recorded investment, with related allowance | 180 |
Allowance allocated | 11 |
Average recorded investment, with related allowance | 185 |
Consumer Portfolio Segment [Member] | |
Unpaid principal, no related allowance | 0 |
Recorded investment, no related allowance | 0 |
Average recorded investment, no related allowance | 0 |
Unpaid principal, with related allowance | 2,886 |
Recorded investment, with related allowance | 2,886 |
Allowance allocated | 220 |
Average recorded investment, with related allowance | 2,882 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | |
Unpaid principal, with related allowance | 2,653 |
Recorded investment, with related allowance | 2,653 |
Allowance allocated | 202 |
Average recorded investment, with related allowance | 2,619 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | |
Unpaid principal, with related allowance | 29 |
Recorded investment, with related allowance | 29 |
Allowance allocated | 2 |
Average recorded investment, with related allowance | 29 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | |
Unpaid principal, with related allowance | 204 |
Recorded investment, with related allowance | 204 |
Allowance allocated | 16 |
Average recorded investment, with related allowance | $ 234 |
Note 3 - Loans and Allowance_10
Note 3 - Loans and Allowance for Credit Losses - Schedule of Nonaccrual Financing Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Nonaccrual with no allowance | $ 0 | $ 0 |
Nonaccrual with allowance | 1 | 78 |
Nonaccrual | 1 | 78 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 1 | 78 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 1 | 78 |
Nonaccrual | 1 | 78 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 1 | 78 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 1 | 78 |
Nonaccrual | 1 | 78 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 1 | 78 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Nonaccrual with no allowance | 0 | 0 |
Nonaccrual with allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Over 90 days accruing | 0 | 0 |
Nonperforming loans | $ 0 | $ 0 |
Note 3 - Loans and Allowance_11
Note 3 - Loans and Allowance for Credit Losses - Past Due Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Total loans | $ 1,338,386 | $ 1,177,748 |
Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 44 | 95 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 77 |
Financial Asset, Past Due [Member] | ||
Total loans | 44 | 172 |
Financial Asset, Not Past Due [Member] | ||
Total loans | 1,338,342 | 1,177,576 |
Commercial Portfolio Segment [Member] | ||
Total loans | 506,974 | 441,716 |
Commercial Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 506,974 | 441,716 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans | 585,099 | 537,603 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Total loans | 5,809 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Total loans | 39,534 | 36,270 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Total loans | 84 | 103 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Total loans | 123,875 | 112,791 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Total loans | 260,188 | 259,281 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 154,809 | 121,924 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Developed [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Development [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Developed [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Development [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Developed [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Commercial Development [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Improved [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 0 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 585,099 | 537,532 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Developed [Member] | ||
Total loans | 5,809 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Vacant and Unimproved [Member] | ||
Total loans | 39,534 | 36,270 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Commercial Development [Member] | ||
Total loans | 84 | 103 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Improved [Member] | ||
Total loans | 123,875 | 112,791 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Commercial Improved [Member] | ||
Total loans | 260,188 | 259,210 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 154,809 | 121,924 |
Consumer Portfolio Segment [Member] | ||
Total loans | 246,313 | 198,429 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 129 | 121 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Total loans | 189,818 | 139,148 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Total loans | 53,039 | 56,321 |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Total loans | 3,327 | 2,839 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | ||
Total loans | 44 | 24 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 44 | 0 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 0 | 24 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 To 89 Days Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Total loans | 44 | 101 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 44 | 77 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 0 | 24 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Total loans | 246,269 | 198,328 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 129 | 121 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Mortgage [Member] | ||
Total loans | 189,774 | 139,071 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Home Equity Loan [Member] | ||
Total loans | 53,039 | 56,297 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Other Financing Receivables [Member] | ||
Total loans | $ 3,327 | $ 2,839 |
Note 3 - Loans and Allowance_12
Note 3 - Loans and Allowance for Credit Losses - Modified Financing Receivables (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Accruing - nonaccrual at modification | $ 0 |
Accruing - accruing at modification | 3,313 |
Accruing - upgraded to accruing after six consecutive payments | 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing | $ 3,313 |
Commercial Portfolio Segment [Member] | |
Number of loans | 2 |
Recorded balance | $ 244 |
Percentage of total loans | 0.02% |
Commercial Real Estate Portfolio Segment [Member] | |
Number of loans | 3 |
Recorded balance | $ 485 |
Percentage of total loans | 0.04% |
Consumer Portfolio Segment [Member] | |
Number of loans | 31 |
Recorded balance | $ 2,584 |
Percentage of total loans | 0.19% |
Note 3 - Loans and Allowance_13
Note 3 - Loans and Allowance for Credit Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Total loans | $ 1,338,386 | $ 1,177,748 |
Commercial Portfolio Segment [Member] | ||
Originated current year | 127,824 | |
Originated prior year | 93,051 | |
Originated two years prior | 32,862 | |
Originated three years prior | 17,309 | |
Originated four years prior | 13,897 | |
Originated years prior | 77,830 | |
Revolving | 144,201 | |
Total loans | 506,974 | 441,716 |
Commercial Portfolio Segment [Member] | Excellent [Member] | ||
Total loans | 15,040 | |
Commercial Portfolio Segment [Member] | Above Average [Member] | ||
Total loans | 21,451 | |
Commercial Portfolio Segment [Member] | Good Quality [Member] | ||
Total loans | 175,762 | |
Commercial Portfolio Segment [Member] | Acceptable Risk [Member] | ||
Originated current year | 83,219 | |
Originated prior year | 41,778 | |
Originated two years prior | 18,081 | |
Originated three years prior | 12,245 | |
Originated four years prior | 1,954 | |
Originated years prior | 42,601 | |
Revolving | 70,902 | |
Total loans | 270,780 | 220,987 |
Commercial Portfolio Segment [Member] | Marginally Acceptable [Member] | ||
Originated current year | 0 | |
Originated prior year | 1,254 | |
Originated two years prior | 49 | |
Originated three years prior | 269 | |
Originated four years prior | 2 | |
Originated years prior | 1,559 | |
Revolving | 8,459 | |
Total loans | 11,592 | 8,309 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 5 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 18 | |
Revolving | 0 | |
Total loans | 23 | 167 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Loss [Member] | ||
Total loans | 0 | |
Commercial Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | ||
Originated current year | 44,605 | |
Originated prior year | 50,019 | |
Originated two years prior | 14,727 | |
Originated three years prior | 4,795 | |
Originated four years prior | 11,941 | |
Originated years prior | 33,652 | |
Revolving | 64,840 | |
Total loans | 224,579 | |
Consumer Portfolio Segment [Member] | ||
Originated current year | 73,844 | |
Originated prior year | 40,856 | |
Originated two years prior | 26,162 | |
Originated three years prior | 10,270 | |
Originated four years prior | 5,122 | |
Originated years prior | 29,496 | |
Revolving | 60,563 | |
Total loans | 246,313 | 198,429 |
Consumer Portfolio Segment [Member] | Residential Mortgage [Member] | ||
Originated current year | 71,574 | |
Originated prior year | 39,537 | |
Originated two years prior | 25,400 | |
Originated three years prior | 9,588 | |
Originated four years prior | 4,868 | |
Originated years prior | 27,510 | |
Revolving | 11,341 | |
Total loans | 189,818 | 139,148 |
Consumer Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 11 | |
Originated four years prior | 13 | |
Originated years prior | 0 | |
Revolving | 105 | |
Total loans | 129 | 121 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Originated current year | 518 | |
Originated prior year | 661 | |
Originated two years prior | 217 | |
Originated three years prior | 451 | |
Originated four years prior | 209 | |
Originated years prior | 1,866 | |
Revolving | 49,117 | |
Total loans | 53,039 | 56,321 |
Consumer Portfolio Segment [Member] | Other Financing Receivables [Member] | ||
Originated current year | 1,752 | |
Originated prior year | 658 | |
Originated two years prior | 545 | |
Originated three years prior | 220 | |
Originated four years prior | 32 | |
Originated years prior | 120 | |
Revolving | 0 | |
Total loans | 3,327 | 2,839 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Residential Mortgage [Member] | ||
Originated current year | 71,574 | |
Originated prior year | 39,537 | |
Originated two years prior | 25,400 | |
Originated three years prior | 9,588 | |
Originated four years prior | 4,868 | |
Originated years prior | 27,510 | |
Revolving | 11,341 | |
Total loans | 189,818 | 139,071 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Unsecured Financing Receivable [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 11 | |
Originated four years prior | 13 | |
Originated years prior | 0 | |
Revolving | 105 | |
Total loans | 129 | 121 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Loan [Member] | ||
Originated current year | 518 | |
Originated prior year | 661 | |
Originated two years prior | 217 | |
Originated three years prior | 451 | |
Originated four years prior | 209 | |
Originated years prior | 1,866 | |
Revolving | 49,117 | |
Total loans | 53,039 | 56,321 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Other Financing Receivables [Member] | ||
Originated current year | 1,752 | |
Originated prior year | 658 | |
Originated two years prior | 545 | |
Originated three years prior | 220 | |
Originated four years prior | 32 | |
Originated years prior | 120 | |
Revolving | 0 | |
Total loans | 3,327 | 2,839 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Residential Mortgage [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 77 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Unsecured Financing Receivable [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Loan [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Other Financing Receivables [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Total loans | 585,099 | 537,603 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured Financing Receivable [Member] | ||
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Residential Developed [Member] | ||
Originated current year | 887 | |
Originated prior year | 102 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 4,820 | |
Total loans | 5,809 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 800 | |
Total loans | 800 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 5,213 | |
Originated prior year | 8,433 | |
Originated two years prior | 10,423 | |
Originated three years prior | 14,514 | |
Originated four years prior | 154 | |
Originated years prior | 70 | |
Revolving | 727 | |
Total loans | 39,534 | 36,270 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 84 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 84 | 103 |
Commercial Real Estate Portfolio Segment [Member] | Residential Improved [Member] | ||
Originated current year | 7,814 | |
Originated prior year | 14,300 | |
Originated two years prior | 35,722 | |
Originated three years prior | 9,581 | |
Originated four years prior | 7,269 | |
Originated years prior | 19,699 | |
Revolving | 29,490 | |
Total loans | 123,875 | 112,791 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Improved [Member] | ||
Originated current year | 25,102 | |
Originated prior year | 54,206 | |
Originated two years prior | 70,295 | |
Originated three years prior | 49,616 | |
Originated four years prior | 37,745 | |
Originated years prior | 16,619 | |
Revolving | 6,605 | |
Total loans | 260,188 | 259,281 |
Commercial Real Estate Portfolio Segment [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 25,008 | |
Originated prior year | 67,755 | |
Originated two years prior | 17,770 | |
Originated three years prior | 13,829 | |
Originated four years prior | 9,728 | |
Originated years prior | 19,567 | |
Revolving | 1,152 | |
Total loans | 154,809 | 121,924 |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Commercial Development [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Residential Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Commercial Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Vacant and Unimproved [Member] | ||
Total loans | 1,231 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Commercial Development [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Residential Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Commercial Improved [Member] | ||
Total loans | 17,802 | |
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 11,422 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Vacant and Unimproved [Member] | ||
Total loans | 18,406 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Commercial Development [Member] | ||
Total loans | 103 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Residential Improved [Member] | ||
Total loans | 25,585 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Commercial Improved [Member] | ||
Total loans | 83,769 | |
Commercial Real Estate Portfolio Segment [Member] | Good Quality [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 32,977 | |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Residential Developed [Member] | ||
Originated current year | 887 | |
Originated prior year | 102 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 4,820 | |
Total loans | 5,809 | 7,234 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 2,961 | |
Originated prior year | 1,315 | |
Originated two years prior | 729 | |
Originated three years prior | 7,811 | |
Originated four years prior | 154 | |
Originated years prior | 0 | |
Revolving | 207 | |
Total loans | 13,177 | 16,633 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Residential Improved [Member] | ||
Originated current year | 2,106 | |
Originated prior year | 545 | |
Originated two years prior | 34,461 | |
Originated three years prior | 1,173 | |
Originated four years prior | 7,021 | |
Originated years prior | 15,188 | |
Revolving | 28,771 | |
Total loans | 89,265 | 87,176 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Commercial Improved [Member] | ||
Originated current year | 11,627 | |
Originated prior year | 34,347 | |
Originated two years prior | 20,551 | |
Originated three years prior | 30,722 | |
Originated four years prior | 24,118 | |
Originated years prior | 2,033 | |
Revolving | 1,754 | |
Total loans | 125,152 | 151,641 |
Commercial Real Estate Portfolio Segment [Member] | Acceptable Risk [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 16,604 | |
Originated prior year | 26,292 | |
Originated two years prior | 12,028 | |
Originated three years prior | 7,412 | |
Originated four years prior | 5,467 | |
Originated years prior | 12,924 | |
Revolving | 350 | |
Total loans | 81,077 | 73,566 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 1,324 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 1,324 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Residential Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 26 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 26 | 30 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Commercial Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 22 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 1,761 | |
Originated years prior | 3,060 | |
Revolving | 0 | |
Total loans | 4,843 | 5,762 |
Commercial Real Estate Portfolio Segment [Member] | Marginally Acceptable [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 167 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 295 | |
Revolving | 0 | |
Total loans | 462 | 1,646 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Residential Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Commercial Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 292 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 292 | 307 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 232 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 2,592 | |
Revolving | 0 | |
Total loans | 2,824 | 2,313 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Residential Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Commercial Improved [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Residential Developed [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Unsecured to Residential Developers [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Vacant and Unimproved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Commercial Development [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Residential Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Commercial Improved [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | Manufacturing and Industrial [Member] | ||
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Residential Developed [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Unsecured to Residential Developers [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 800 | |
Total loans | 800 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Vacant and Unimproved [Member] | ||
Originated current year | 928 | |
Originated prior year | 7,118 | |
Originated two years prior | 9,694 | |
Originated three years prior | 6,703 | |
Originated four years prior | 0 | |
Originated years prior | 70 | |
Revolving | 520 | |
Total loans | 25,033 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Commercial Development [Member] | ||
Originated current year | 0 | |
Originated prior year | 84 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 84 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Residential Improved [Member] | ||
Originated current year | 5,708 | |
Originated prior year | 13,755 | |
Originated two years prior | 1,235 | |
Originated three years prior | 8,408 | |
Originated four years prior | 248 | |
Originated years prior | 4,511 | |
Revolving | 719 | |
Total loans | 34,584 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Commercial Improved [Member] | ||
Originated current year | 13,475 | |
Originated prior year | 19,837 | |
Originated two years prior | 49,452 | |
Originated three years prior | 18,894 | |
Originated four years prior | 11,866 | |
Originated years prior | 11,526 | |
Revolving | 4,851 | |
Total loans | 129,901 | |
Commercial Real Estate Portfolio Segment [Member] | Excellent, Above Average, and Good Quality [Member] | Manufacturing and Industrial [Member] | ||
Originated current year | 8,005 | |
Originated prior year | 41,463 | |
Originated two years prior | 5,742 | |
Originated three years prior | 6,417 | |
Originated four years prior | 4,261 | |
Originated years prior | 3,756 | |
Revolving | 802 | |
Total loans | 70,446 | |
Commercial Segment [Member] | ||
Originated current year | 191,848 | |
Originated prior year | 237,931 | |
Originated two years prior | 167,072 | |
Originated three years prior | 104,849 | |
Originated four years prior | 68,793 | |
Originated years prior | 133,785 | |
Revolving | 187,795 | |
Total loans | 1,092,073 | 979,319 |
Commercial Segment [Member] | Excellent [Member] | ||
Total loans | 15,040 | |
Commercial Segment [Member] | Above Average [Member] | ||
Total loans | 51,906 | |
Commercial Segment [Member] | Good Quality [Member] | ||
Total loans | 336,602 | |
Commercial Segment [Member] | Acceptable Risk [Member] | ||
Originated current year | 117,404 | |
Originated prior year | 104,379 | |
Originated two years prior | 85,850 | |
Originated three years prior | 59,363 | |
Originated four years prior | 38,714 | |
Originated years prior | 72,746 | |
Revolving | 106,804 | |
Total loans | 585,260 | 557,237 |
Commercial Segment [Member] | Marginally Acceptable [Member] | ||
Originated current year | 1,491 | |
Originated prior year | 1,276 | |
Originated two years prior | 75 | |
Originated three years prior | 269 | |
Originated four years prior | 1,763 | |
Originated years prior | 4,914 | |
Revolving | 8,459 | |
Total loans | 18,247 | 15,747 |
Commercial Segment [Member] | Substandard [Member] | ||
Originated current year | 232 | |
Originated prior year | 0 | |
Originated two years prior | 297 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 2,610 | |
Revolving | 0 | |
Total loans | 3,139 | 2,787 |
Commercial Segment [Member] | Doubtful [Member] | ||
Originated current year | 0 | |
Originated prior year | 0 | |
Originated two years prior | 0 | |
Originated three years prior | 0 | |
Originated four years prior | 0 | |
Originated years prior | 0 | |
Revolving | 0 | |
Total loans | 0 | 0 |
Commercial Segment [Member] | Loss [Member] | ||
Total loans | $ 0 | |
Commercial Segment [Member] | Excellent, Above Average, and Good Quality [Member] | ||
Originated current year | 72,721 | |
Originated prior year | 132,276 | |
Originated two years prior | 80,850 | |
Originated three years prior | 45,217 | |
Originated four years prior | 28,316 | |
Originated years prior | 53,515 | |
Revolving | 72,532 | |
Total loans | $ 485,427 |
Note 4 - Other Real Estate Ow_3
Note 4 - Other Real Estate Owned (Details Textual) $ in Thousands | Dec. 31, 2023 USD ($) |
Mortgage Loans in Process of Foreclosure, Amount | $ 0 |
Note 4 - Other Real Estate Ow_4
Note 4 - Other Real Estate Owned - Schedule of Other Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning balance | $ 2,343 | $ 2,369 | |
Additions, transfers from loans | 0 | 0 | |
Proceeds from sales of other real estate owned and repossessed assets | (2,699) | (47) | |
Valuation allowance reversal upon sale | 0 | (26) | |
Gain (loss) on sales of other real estate owned and repossessed assets | 356 | 47 | |
Other Real Estate and Foreclosed Assets Gross | 0 | 2,343 | |
Less: valuation allowance | 0 | 0 | $ (26) |
Other real estate owned - net | $ 0 | $ 2,343 |
Note 4 - Other Real Estate Ow_5
Note 4 - Other Real Estate Owned - Activity in Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning balance | $ 0 | $ 26 |
Additions charged to expense | 0 | 0 |
Reversals upon sale | 0 | (26) |
Ending balance | $ 0 | $ 0 |
Note 5 - Fair Value - Assets an
Note 5 - Fair Value - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available for sale, at fair value | $ 508,798 | $ 499,257 | $ 499,257 |
Fair Value, Recurring [Member] | |||
Loans held for sale | 0 | 215 | |
Interest rate swaps | 4,856 | 6,463 | |
Total assets measured at fair value on recurring basis | 514,972 | 507,239 | |
Interest rate swaps | (4,856) | (6,463) | |
Total liabilities measured at fair value on recurring basis | (4,856) | (6,463) | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale, at fair value | 0 | ||
Loans held for sale | 0 | 0 | |
Interest rate swaps | 0 | 0 | |
Total assets measured at fair value on recurring basis | 0 | 0 | |
Interest rate swaps | 0 | 0 | |
Total liabilities measured at fair value on recurring basis | 0 | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale, at fair value | 245,492 | ||
Loans held for sale | 0 | 215 | |
Interest rate swaps | 4,856 | 6,463 | |
Total assets measured at fair value on recurring basis | 514,972 | 507,239 | |
Interest rate swaps | (4,856) | (6,463) | |
Total liabilities measured at fair value on recurring basis | (4,856) | (6,463) | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale, at fair value | 0 | ||
Loans held for sale | 0 | 0 | |
Interest rate swaps | 0 | 0 | |
Total assets measured at fair value on recurring basis | 0 | 0 | |
Interest rate swaps | 0 | 0 | |
Total liabilities measured at fair value on recurring basis | 0 | 0 | |
US Treasury and Government [Member] | |||
Securities available for sale, at fair value | 245,492 | 224,634 | |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | |||
Securities available for sale, at fair value | 245,492 | 224,634 | |
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale, at fair value | 0 | ||
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale, at fair value | 224,634 | ||
US Treasury and Government [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale, at fair value | 0 | ||
US Government Agencies Debt Securities [Member] | |||
Securities available for sale, at fair value | 111,336 | 113,818 | |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | |||
Securities available for sale, at fair value | 111,336 | 113,818 | |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale, at fair value | 111,336 | 113,818 | |
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Nontaxable Municipal Bonds [Member] | |||
Securities available for sale, at fair value | 30,597 | 36,710 | |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | |||
Securities available for sale, at fair value | 30,597 | 36,710 | |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale, at fair value | 30,597 | 36,710 | |
Nontaxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Taxable Municipal Bonds [Member] | |||
Securities available for sale, at fair value | 110,076 | 112,171 | |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | |||
Securities available for sale, at fair value | 110,076 | 112,171 | |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale, at fair value | 110,076 | 112,171 | |
Taxable Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Corporate Bonds And Other Debt Securities [Member] | |||
Securities available for sale, at fair value | 11,297 | 11,924 | |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | |||
Securities available for sale, at fair value | 11,297 | 11,924 | |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale, at fair value | 11,297 | 11,924 | |
Corporate Bonds And Other Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale, at fair value | 0 | 0 | |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | |||
Other equity securities | 1,318 | 1,304 | |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Other equity securities | 0 | 0 | |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Other equity securities | 1,318 | 1,304 | |
Other Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other equity securities | $ 0 | $ 0 |
Note 5 - Fair Value - Assets Me
Note 5 - Fair Value - Assets Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Impaired Loans [Member] | ||
Loans, fair value | $ 328 | |
Collateral Pledged [Member] | ||
Loans, fair value | $ 303 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | ||
Loans, fair value | 328 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Loans, fair value | $ 328 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | ||
Loans, fair value | 303 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans, fair value | 0 | |
Fair Value, Nonrecurring [Member] | Collateral Pledged [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, fair value | $ 303 |
Note 5 - Fair Value - Valuation
Note 5 - Fair Value - Valuation Techniques (Details) $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Impaired Loans [Member] | ||
Loans, fair value | $ 328 | |
Impaired Loans [Member] | Measurement Input, Comparability Adjustment [Member] | Valuation, Market Approach [Member] | Minimum [Member] | ||
Loans receivable, measurement input | 0.015 | |
Impaired Loans [Member] | Measurement Input, Comparability Adjustment [Member] | Valuation, Market Approach [Member] | Maximum [Member] | ||
Loans receivable, measurement input | 0.20 | |
Impaired Loans [Member] | Measurement Input, Comparability Adjustment [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | ||
Loans receivable, measurement input | 0.183 | |
Collateral Pledged [Member] | ||
Loans, fair value | $ 303 | |
Collateral Pledged [Member] | Measurement Input, Comparability Adjustment [Member] | Valuation, Market Approach [Member] | Minimum [Member] | ||
Loans receivable, measurement input | 0.02 | |
Collateral Pledged [Member] | Measurement Input, Comparability Adjustment [Member] | Valuation, Market Approach [Member] | Maximum [Member] | ||
Loans receivable, measurement input | 0.41 | |
Collateral Pledged [Member] | Measurement Input, Comparability Adjustment [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | ||
Loans receivable, measurement input | 0.375 | |
Collateral Pledged [Member] | Measurement Input, Cap Rate [Member] | Valuation, Income Approach [Member] | Minimum [Member] | ||
Loans receivable, measurement input | 0.075 | 0.095 |
Collateral Pledged [Member] | Measurement Input, Cap Rate [Member] | Valuation, Income Approach [Member] | Maximum [Member] | ||
Loans receivable, measurement input | 0.085 | 0.11 |
Collateral Pledged [Member] | Measurement Input, Cap Rate [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | ||
Loans receivable, measurement input | 0.084 | 0.109 |
Note 5 - Fair Value - Carrying
Note 5 - Fair Value - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Cash and due from banks | $ 32,317 | $ 51,215 |
Federal funds sold and other short-term investments | 418,035 | 703,955 |
Bank-owned life insurance | 54,249 | 53,345 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 51,215 | |
Federal funds sold and other short-term investments | 703,955 | |
FHLB stock | 10,211 | |
Loans, fair value | 1,162,135 | |
Bank-owned life insurance | 53,345 | |
Accrued interest receivable | 7,606 | |
Deposits | (2,615,142) | |
Other borrowed funds | (30,000) | |
Accrued interest payable | (114) | |
Off-balance sheet credit-related items | 0 | 0 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 51,215 | |
Federal funds sold and other short-term investments | 703,955 | |
FHLB stock | 10,211 | |
Loans, fair value | 1,131,387 | |
Bank-owned life insurance | 53,345 | |
Accrued interest receivable | 7,606 | |
Deposits | (2,615,860) | |
Other borrowed funds | (28,666) | |
Accrued interest payable | (114) | |
Off-balance sheet credit-related items | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and due from banks | 32,317 | |
Federal funds sold and other short-term investments | 418,035 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 32,317 | |
Federal funds sold and other short-term investments | 418,035 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Loans, fair value | 1,320,641 | |
Accrued interest receivable | 8,976 | |
Deposits | (2,415,730) | |
Other borrowed funds | (30,000) | |
Accrued interest payable | (672) | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | US Treasury and Government [Member] | ||
Securities held to maturity | 251,229 | 251,307 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Loans, fair value | 1,308,900 | |
Accrued interest receivable | 8,976 | |
Deposits | (2,417,784) | |
Other borrowed funds | (29,354) | |
Accrued interest payable | (672) | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | US Treasury and Government [Member] | ||
Securities held to maturity | 242,709 | 237,630 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
FHLB stock | 10,211 | |
Bank-owned life insurance | 54,249 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | Nontaxable Municipal Bonds [Member] | ||
Securities held to maturity | 80,294 | 97,458 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
FHLB stock | 10,211 | |
Bank-owned life insurance | 54,249 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Nontaxable Municipal Bonds [Member] | ||
Securities held to maturity | $ 79,389 | $ 95,020 |
Note 6 - Derivatives (Details T
Note 6 - Derivatives (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Derivative Liability | $ 0 | $ 0 |
Derivative Liability, Fair Value of Collateral | 1,800 | 1,700 |
Interest Rate Swap [Member] | ||
Derivative Asset, Notional Amount | 108,200 | 125,300 |
Other Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | 4,856 | 6,463 |
Other Assets [Member] | Interest Rate Swap [Member] | ||
Derivative Asset, Notional Amount | $ 54,095 | $ 62,661 |
Note 6 - Derivatives - Schedule
Note 6 - Derivatives - Schedule of Derivatives (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Derivative assets, notional amount | $ 108,200 | $ 125,300 |
Derivative assets, fair value | 4,900 | 6,500 |
Other Assets [Member] | ||
Derivative assets, notional amount | 54,095 | 62,661 |
Derivative assets, fair value | 4,856 | 6,463 |
Other Liabilities [Member] | ||
Derivative liabilities, notional amount | 54,095 | 62,661 |
Derivative liabilities, fair value | $ 4,856 | $ 6,463 |
Note 7 - Premise and Equipmen_3
Note 7 - Premise and Equipment - Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Depreciation | $ 2.1 | $ 2.3 |
Note 7 - Premise and Equipmen_4
Note 7 - Premise and Equipment - Year End (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment, Gross | $ 78,783 | $ 79,093 |
Less accumulated depreciation | (40,179) | (38,787) |
Property, Plant and Equipment, Net | 38,604 | 40,306 |
Land [Member] | ||
Property, Plant and Equipment, Gross | 15,556 | 15,861 |
Building [Member] | ||
Property, Plant and Equipment, Gross | 45,016 | 44,879 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Gross | 248 | 248 |
Office Equipment [Member] | ||
Property, Plant and Equipment, Gross | 17,878 | 18,055 |
Construction in Progress [Member] | ||
Property, Plant and Equipment, Gross | $ 85 | $ 50 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) | 12 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Number of Offices Leased | 4 | |
Operating Lease, Weighted Average Discount Rate, Percent | 1.87% | 0.58% |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 2 years 7 months 6 days | 2 years 2 months 12 days |
Operating Lease, Expense | $ 478,000 | $ 451,000 |
Other Assets [Member] | ||
Operating Lease, Right-of-Use Asset | 775,000 | 625,000 |
Accrued Expenses and Other Liabilities [Member] | ||
Operating Lease, Liability | $ 797,000 | $ 627,000 |
Note 8 - Leases - Future Undisc
Note 8 - Leases - Future Undiscounted Lease Payments for Operating Leases (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
2024 | $ 388,000 | |
2025 | 295,000 | |
2026 | 56,000 | |
2027 | 56,000 | |
2028 | 27,000 | |
Thereafter | 0 | |
Total undiscounted lease payments | 822,000 | |
Effect of discounting | (25,000) | |
Accrued Expenses and Other Liabilities [Member] | ||
Present value of estimated lease payments (lease liability) | $ 797,000 | $ 627,000 |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Time Deposit Liability, Uninsured | $ 93.4 | $ 29.7 |
Note 9 - Deposits - Schedule of
Note 9 - Deposits - Schedule of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Noninterest-bearing | $ 643,035 | $ 834,879 |
Interest bearing demand | 639,689 | 760,889 |
Savings and money market accounts | 820,530 | 922,418 |
Certificates of deposit | 312,476 | 96,956 |
Total deposits | $ 2,415,730 | $ 2,615,142 |
Note 9 - Deposits - Maturity Di
Note 9 - Deposits - Maturity Distribution of Certificates of Deposit (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
2024 | $ 303,495 | |
2025 | 8,138 | |
2026 | 537 | |
2027 | 207 | |
2028 | 38 | |
Thereafter | 61 | |
Time Deposits | $ 312,476 | $ 96,956 |
Note 10 - Other Borrowed Fund_2
Note 10 - Other Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 473,100 | $ 446,100 |
Advance from Federal Home Loan Bank | 30,000 | 30,000 |
Financing Receivable, after Allowance for Credit Loss | 1,320,944 | 1,162,463 |
Federal Reserve Bank Advances [Member] | ||
Short-Term Debt | 0 | 0 |
Debt Instrument, Unused Borrowing Capacity, Amount | 1,100 | 5,500 |
Federal Reserve Bank Advances [Member] | Asset Pledged as Collateral [Member] | ||
Financing Receivable, after Allowance for Credit Loss | 1,100 | 5,800 |
Putable Advances [Member] | ||
Advance from Federal Home Loan Bank | 20,000 | $ 20,000 |
Bank Term Funding Program [Member] | Federal Reserve Bank Advances [Member] | ||
Debt Instrument, Unused Borrowing Capacity, Amount | 631,200 | |
Financing Receivable, after Allowance for Credit Loss | $ 0 |
Note 10 - Other Borrowed Fund_3
Note 10 - Other Borrowed Funds - Federal Home Loan Bank Advances (Details) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Advance from Federal Home Loan Bank | $ 30 | $ 30 |
Single Maturity Fixed Rate Advances [Member] | ||
Advance from Federal Home Loan Bank | $ 10 | $ 10 |
Maturities | 2024 | |
Weighted average interest rate | 2.63% | 2.63% |
Maturities | 2024 | |
Putable Advances [Member] | ||
Advance from Federal Home Loan Bank | $ 20 | $ 20 |
Maturities | 2024 | |
Weighted average interest rate | 1.81% | 1.81% |
Maturities | 2024 |
Note 10 - Other Borrowed Fund_4
Note 10 - Other Borrowed Funds - Schedule of FHLB Advance Repayments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
2024 | $ 30,000 | |
2025 | 0 | |
2026 | 0 | |
2027 | 0 | |
2028 | 0 | |
Thereafter | 0 | |
Advance from Federal Home Loan Bank | $ 30,000 | $ 30,000 |
Note 11 - Related Party Trans_3
Note 11 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Principal Officers Directors And Their Affiliates [Member] | ||
Related Party Deposit Liabilities | $ 127.7 | $ 153.3 |
Director [Member] | Swap [Member] | ||
Derivative Asset, Notional Amount | $ 9.5 | $ 10.7 |
Note 11 - Related Party Trans_4
Note 11 - Related Party Transactions - Loans to Principal Officers, Directors, and Their Affiliates (Details) - Principal Officers Directors And Their Affiliates [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning balance | $ 25,907 | $ 25,779 |
New loans and renewals | 50,100 | 14,535 |
Repayments and renewals | (52,510) | (14,407) |
Effect of changes in related parties | 0 | 0 |
Ending balance | $ 23,497 | $ 25,907 |
Note 12 - Stock-Based Compens_3
Note 12 - Stock-Based Compensation (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Restricted Stock [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | |
Share-Based Payment Arrangement, Expense | $ 820,000 | $ 703,000 |
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 1,300,000 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months 29 days | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 877,000,000 | $ 732,000,000 |
Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 0.33% | |
Stock Incentive Plan of 2015 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 1,500,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 895,698 |
Note 12 - Stock-Based Compens_4
Note 12 - Stock-Based Compensation - Schedule of Restricted Stock Awards (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | |
Outstanding at January 1, 2023 (in shares) | shares | 158,087 |
Outstanding at January 1, 2023 (in dollars per share) | $ / shares | $ 9.62 |
Outstanding at January 1, 2023 | $ | $ 1,783,221 |
Granted, shares (in shares) | shares | 82,860 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 9.81 |
Granted, aggregate intrinsic value | $ | $ 934,661 |
Vested, shares (in shares) | shares | (94,834) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 9.25 |
Vested, aggregate intrinsic value | $ | $ (1,069,728) |
Forfeited, shares (in shares) | shares | (5,008) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 8.98 |
Forfeited, aggregate intrinsic value | $ | $ (56,490) |
Outstanding at December 31, 2023 (in shares) | shares | 141,105 |
Outstanding at December 31, 2023 (in dollars per share) | $ / shares | $ 10.01 |
Outstanding at December 31, 2023 | $ | $ 1,591,664 |
Note 13 - Employee Benefits (De
Note 13 - Employee Benefits (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match One | 100% | |
Defined Contribution Plan, Employee Contribution at Threshold | 3% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match Two | 50% | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 5% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 790,000 | $ 755,000 |
Note 14 - Earnings Per Common_3
Note 14 - Earnings Per Common Share - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net income | $ 9,495 | $ 11,413 | $ 10,312 | $ 12,004 | $ 12,118 | $ 10,045 | $ 6,568 | $ 6,000 | $ 43,224 | $ 34,731 |
Weighted average shares outstanding, including participating stock awards - Basic (in shares) | 34,301,650 | 34,259,604 | ||||||||
Weighted average shares outstanding - Diluted (in shares) | 34,301,650 | 34,259,604 | ||||||||
Basic and diluted earnings per common share (in dollars per share) | $ 0.28 | $ 0.33 | $ 0.3 | $ 0.35 | $ 0.35 | $ 0.29 | $ 0.19 | $ 0.18 | $ 1.26 | $ 1.01 |
Note 15 - Federal Income Taxe_2
Note 15 - Federal Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Note 15 - Federal Income Taxe_3
Note 15 - Federal Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Current | $ 9,988 | $ 7,567 |
Deferred income tax expense | 535 | 766 |
Income Tax Expense (Benefit) | $ 10,523 | $ 8,333 |
Note 15 - Federal Income Taxe_4
Note 15 - Federal Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Statutory rate | 21% | 21% |
Statutory rate applied to income before taxes | $ 11,287 | $ 9,044 |
Tax-exempt interest income | (483) | (589) |
Bank-owned life insurance | (190) | (184) |
Other, net | (91) | 62 |
Income Tax Expense (Benefit) | $ 10,523 | $ 8,333 |
Note 15 - Federal Income Taxe_5
Note 15 - Federal Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Allowance for credit losses | $ 3,663 | $ 3,210 |
Nonaccrual loan interest | 13 | 12 |
Unrealized loss on securities available for sale | 6,095 | 8,394 |
Other | 262 | 257 |
Gross deferred tax assets | 10,033 | 11,873 |
Valuation allowance | 0 | 0 |
Total net deferred tax assets | 10,033 | 11,873 |
Depreciation | (1,003) | (1,098) |
Prepaid expenses | (303) | (309) |
Net deferred loan costs | (35) | (21) |
Accretion | (1,139) | (414) |
Other | (351) | (319) |
Gross deferred tax liabilities | (2,831) | (2,161) |
Deferred tax asset - net | $ 7,202 | $ 9,712 |
Note 16 - Commitments and Off_3
Note 16 - Commitments and Off Balance-sheet Risk (Details Textual) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Fair Value Disclosure, off-Balance-Sheet Risks, Face Amount, Liability | $ 0 | $ 0 |
Commitment To Sell Mortgage Backed Securities [Member] | ||
Fair Value Disclosure, off-Balance-Sheet Risks, Face Amount, Liability | $ 1,300,000 | $ 0 |
Commitments to Make Loans at Fixed Rates | 60% | |
Other Liabilities [Member] | ||
Reserve for Unfunded Loan Commitments | $ 69,000 |
Note 16 - Commitments and Off_4
Note 16 - Commitments and Off Balance-sheet Risk - Schedule of Off Balance-sheet Risks (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Commitments to Extend Credit [Member] | ||
Off-balance sheet credit-related items | $ 86,209 | $ 77,384 |
Letter of Credit [Member] | ||
Off-balance sheet credit-related items | 10,384 | 13,455 |
Unused lines of Credit [Member] | ||
Off-balance sheet credit-related items | $ 693,392 | $ 745,674 |
Note 18 - Shareholders' Equit_2
Note 18 - Shareholders' Equity (Details Textual) | Dec. 31, 2023 | Dec. 31, 2022 |
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.045 | 0.045 |
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Capital Conservation Buffer | 0.025 | |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier 1 Risk-Based Capital, Actual | 0.07 | 0.07 |
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.06 | 0.06 |
Banking Regulation, Capital Conservation Buffer, Tier 1 Risk-Based Capital, Actual | 0.085 | 0.085 |
Banking Regulation, Capital Conservation Buffer, Total Risk-Based Capital, Actual | 0.105 | 0.105 |
Banking Regulation, Tier 1 Leverage Capital Ratio, Capital Adequacy, Minimum | 0.04 | 0.04 |
Note 18 - Shareholders' Equit_3
Note 18 - Shareholders' Equity - Regulatory Capital (Details) $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
CET1 capital, actual amount | $ 310,015 | $ 278,615 |
CET1 capital, actual ratio | 0.177 | 0.169 |
CET1 capital, minimum capital adequacy amount | $ 78,836 | $ 74,003 |
CET1 capital, minimum capital adequacy ratio | 0.045 | 0.045 |
CET1 capital, minimum capital adequacy with capital buffer amount | $ 122,634 | $ 115,116 |
CET1 capital, minimum capital adequacy with capital buffer ratio | 0.07 | 0.07 |
Tier 1 capital, actual amount | $ 310,015 | $ 278,615 |
Tier 1 capital, actual ratio | 0.177 | 0.169 |
Tier 1 capital, minimum capital adequacy amount | $ 105,115 | $ 98,670 |
Tier 1 capital, minimum capital adequacy ratio | 0.06 | 0.06 |
Tier 1 capital, minimum capital adequacy with capital buffer amount | $ 148,913 | $ 139,783 |
Tier 1 capital, minimum capital adequacy with capital buffer ratio | 0.085 | 0.085 |
Total capital, actual amount | $ 327,457 | $ 293,900 |
Total capital, actual ratio | 0.187 | 0.179 |
Total capital, minimum capital adequacy amount | $ 140,153 | $ 131,561 |
Total capital, minimum capital adequacy ratio | 0.08 | 0.08 |
Total capital, minimum capital adequacy with capital buffer amount | $ 183,951 | $ 172,673 |
Total capital, minimum capital adequacy with capital buffer ratio | 0.105 | 0.105 |
Tier 1 leverage capital, actual amount | $ 310,015 | $ 278,615 |
Tier 1 leverage capital, actual ratio | 0.114 | 0.097 |
Tier 1 leverage capital, minimum capital adequacy amount | $ 109,284 | $ 114,589 |
Tier 1 leverage capital, minimum capital adequacy ratio | 0.04 | 0.04 |
Subsidiaries [Member] | ||
CET1 capital, actual amount | $ 300,943 | $ 270,274 |
CET1 capital, actual ratio | 0.172 | 0.164 |
CET1 capital, minimum capital adequacy amount | $ 78,825 | $ 73,992 |
CET1 capital, minimum capital adequacy ratio | 0.045 | 0.045 |
CET1 capital, minimum capital adequacy with capital buffer amount | $ 122,617 | $ 115,098 |
CET1 capital, minimum capital adequacy with capital buffer ratio | 0.07 | 0.07 |
CET1 capital, well capitalized amount | $ 113,859 | $ 106,877 |
CET1 capital, well capitalized ratio | 0.065 | 0.065 |
Tier 1 capital, actual amount | $ 300,943 | $ 270,274 |
Tier 1 capital, actual ratio | 0.172 | 0.164 |
Tier 1 capital, minimum capital adequacy amount | $ 105,100 | $ 98,655 |
Tier 1 capital, minimum capital adequacy ratio | 0.06 | 0.06 |
Tier 1 capital, minimum capital adequacy with capital buffer amount | $ 148,892 | $ 139,762 |
Tier 1 capital, minimum capital adequacy with capital buffer ratio | 0.085 | 0.085 |
Tier 1 capital, well capitalized amount | $ 140,134 | $ 131,540 |
Tier 1 capital, well capitalized ratio | 0.08 | 0.08 |
Total capital, actual amount | $ 318,385 | $ 285,559 |
Total capital, actual ratio | 0.182 | 0.174 |
Total capital, minimum capital adequacy amount | $ 140,134 | $ 131,540 |
Total capital, minimum capital adequacy ratio | 0.08 | 0.08 |
Total capital, minimum capital adequacy with capital buffer amount | $ 183,925 | $ 172,647 |
Total capital, minimum capital adequacy with capital buffer ratio | 0.105 | 0.105 |
Total capital, well capitalized amount | $ 175,167 | $ 164,426 |
Total capital, well capitalized ratio | 0.10 | 0.10 |
Tier 1 leverage capital, actual amount | $ 300,943 | $ 270,274 |
Tier 1 leverage capital, actual ratio | 0.11 | 0.094 |
Tier 1 leverage capital, minimum capital adequacy amount | $ 109,283 | $ 114,582 |
Tier 1 leverage capital, minimum capital adequacy ratio | 0.04 | 0.04 |
Tier 1 leverage capital, well capitalized amount | $ 136,604 | $ 143,227 |
Tier 1 leverage capital, well capitalized ratio | 0.05 | 0.05 |
Note 19 - Condensed Financial_3
Note 19 - Condensed Financial Statements (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
ASSETS | |||
Cash and cash equivalents | $ 450,352 | $ 755,170 | |
Other assets | 17,840 | 17,526 | |
Total assets | 2,748,699 | 2,906,919 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Total liabilities | 2,461,614 | 2,659,881 | |
Total shareholders' equity | 287,085 | 247,038 | $ 254,005 |
Total liabilities and shareholders' equity | 2,748,699 | 2,906,919 | |
Parent Company [Member] | |||
ASSETS | |||
Cash and cash equivalents | 8,827 | 8,092 | |
Investment in Bank subsidiary | 278,013 | 238,697 | |
Investment in other subsidiaries | 0 | 0 | |
Other assets | 245 | 249 | |
Total assets | 287,085 | 247,038 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Long-term debt | 0 | 0 | |
Other liabilities | 0 | 0 | |
Total liabilities | 0 | 0 | |
Total shareholders' equity | 287,085 | 247,038 | |
Total liabilities and shareholders' equity | $ 287,085 | $ 247,038 |
Note 19 - Condensed Financial_4
Note 19 - Condensed Financial Statements (Parent Company Only) - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
EXPENSE | ||||||||||
Interest expense | $ 26,364 | $ 4,760 | ||||||||
Income before income tax | 53,747 | 43,064 | ||||||||
Income tax expense | 10,523 | 8,333 | ||||||||
Net income | $ 9,495 | $ 11,413 | $ 10,312 | $ 12,004 | $ 12,118 | $ 10,045 | $ 6,568 | $ 6,000 | 43,224 | 34,731 |
Comprehensive income | 51,870 | 3,452 | ||||||||
Parent Company [Member] | ||||||||||
INCOME | ||||||||||
Dividends from subsidiaries | 12,735 | 11,913 | ||||||||
Other | 0 | 0 | ||||||||
Total income | 12,735 | 11,913 | ||||||||
EXPENSE | ||||||||||
Interest expense | 0 | 0 | ||||||||
Other expense | 887 | 801 | ||||||||
Total expense | 887 | 801 | ||||||||
Income before income tax and equity in undistributed earnings of subsidiaries | 11,848 | 11,112 | ||||||||
Equity in undistributed earnings of subsidiaries | 31,189 | 23,445 | ||||||||
Income before income tax | 43,037 | 34,557 | ||||||||
Income tax expense | (187) | (174) | ||||||||
Net income | 43,224 | 34,731 | ||||||||
Comprehensive income | $ 51,870 | $ 3,452 |
Note 19 - Condensed Financial_5
Note 19 - Condensed Financial Statements (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities | ||||||||||
Net income | $ 9,495 | $ 11,413 | $ 10,312 | $ 12,004 | $ 12,118 | $ 10,045 | $ 6,568 | $ 6,000 | $ 43,224 | $ 34,731 |
Adjustments to reconcile net income to net cash from operating activities: | ||||||||||
Stock compensation expense | 820 | 703 | ||||||||
Net cash from operating activities | 43,800 | 34,800 | ||||||||
Cash flows from investing activities | ||||||||||
Net cash for investing activities | (137,778) | (402,480) | ||||||||
Cash flows from financing activities | ||||||||||
Cash dividends paid | (11,285) | (10,915) | ||||||||
Repurchase of shares for taxes withheld on vested restricted stock | (143) | (207) | ||||||||
Net cash for financing activities | (210,840) | (28,938) | ||||||||
Net change in cash and cash equivalents | (304,818) | (396,618) | ||||||||
Parent Company [Member] | ||||||||||
Cash flows from operating activities | ||||||||||
Net income | 43,224 | 34,731 | ||||||||
Adjustments to reconcile net income to net cash from operating activities: | ||||||||||
Equity in undistributed earnings of subsidiaries | (31,189) | (23,445) | ||||||||
Stock compensation expense | 124 | 114 | ||||||||
Change in other assets | 4 | 0 | ||||||||
Change in other liabilities | 0 | (17) | ||||||||
Net cash from operating activities | 12,163 | 11,383 | ||||||||
Cash flows from investing activities | ||||||||||
Investment in subsidiaries | 0 | 0 | ||||||||
Net cash for investing activities | 0 | 0 | ||||||||
Cash flows from financing activities | ||||||||||
Repayment of other borrowings | 0 | 0 | ||||||||
Cash dividends paid | (11,285) | (10,915) | ||||||||
Repurchase of shares for taxes withheld on vested restricted stock | (143) | (207) | ||||||||
Net cash for financing activities | (11,428) | (11,122) | ||||||||
Net change in cash and cash equivalents | 735 | 261 | ||||||||
Cash and cash equivalents at beginning of year | $ 8,092 | $ 7,831 | 8,092 | 7,831 | ||||||
Cash and cash equivalents at end of year | $ 8,827 | $ 8,092 | $ 8,827 | $ 8,092 |
Note 20 - Quarterly Financial_3
Note 20 - Quarterly Financial Data - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Interest income | $ 29,638 | $ 29,787 | $ 27,120 | $ 27,266 | $ 25,454 | $ 20,875 | $ 15,435 | $ 13,143 | $ 113,811 | $ 74,906 | |
Net interest income | 21,441 | 22,244 | 21,146 | 22,616 | 22,867 | 19,771 | 14,843 | 12,665 | 87,447 | 70,146 | |
Provision for loan losses | 400 | (150) | 300 | 0 | 375 | 0 | 0 | (1,500) | 550 | [1] | (1,125) |
Net income | $ 9,495 | $ 11,413 | $ 10,312 | $ 12,004 | $ 12,118 | $ 10,045 | $ 6,568 | $ 6,000 | $ 43,224 | $ 34,731 | |
Basic (in dollars per share) | $ 0.28 | $ 0.33 | $ 0.3 | $ 0.35 | $ 0.35 | $ 0.29 | $ 0.19 | $ 0.18 | $ 1.26 | $ 1.01 | |
Diluted (in dollars per share) | $ 0.28 | $ 0.33 | $ 0.3 | $ 0.35 | $ 0.35 | $ 0.29 | $ 0.19 | $ 0.18 | |||
[1]Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology. |