Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 10, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001075706 | |
Entity Registrant Name | CITIZENS HOLDING CO /MS/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-15375 | |
Entity Incorporation, State or Country Code | MS | |
Entity Tax Identification Number | 64-0666512 | |
Entity Address, Address Line One | 521 Main Street | |
Entity Address, City or Town | Philadelphia | |
Entity Address, State or Province | MS | |
Entity Address, Postal Zip Code | 39350 | |
City Area Code | 601 | |
Local Phone Number | 656-4692 | |
Title of 12(b) Security | Common Stock, $0.20 par value | |
Trading Symbol | CIZN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,616,438 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Assets | |||
Cash and due from banks | $ 14,061 | $ 26,948 | |
Interest bearing deposits with other banks | 130,320 | 1,646 | |
Cash and cash equivalents | 144,381 | 28,594 | |
Held to maturity, amortized cost | 392,133 | 406,590 | |
Investment securities available-for-sale, at fair value | 183,535 | 201,322 | |
Loans held for investment (LHFI) (1) | [1] | 587,238 | 585,591 |
Ending Balance, September 30, 2022 | [1] | 6,390 | 5,264 |
Net LHFI | 580,848 | 580,327 | |
Premises and equipment, net | 27,353 | 27,705 | |
Other real estate owned, net | 974 | 1,179 | |
Accrued interest receivable | 4,712 | 4,864 | |
Cash surrender value of life insurance | 26,191 | 25,724 | |
Deferred tax assets, net | 31,417 | 29,574 | |
Identifiable intangible assets, net | 13,359 | 13,442 | |
Other assets | 9,107 | 4,682 | |
Total Assets | 1,414,010 | 1,324,003 | |
Deposits: | |||
Non-interest bearing deposits | 277,949 | 299,112 | |
Interest bearing deposits | 916,748 | 827,290 | |
Total deposits | 1,194,697 | 1,126,402 | |
Securities sold under agreement to repurchase | 151,089 | 127,574 | |
Borrowings on secured line of credit | 18,000 | 18,000 | |
Deferred compensation payable | 10,120 | 9,868 | |
Other liabilities | 5,759 | 3,134 | |
Total liabilities | 1,379,665 | 1,284,978 | |
Shareholders' Equity | |||
Common stock, $0.20 par value, 22,500,000 shares authorized, Issued and outstanding: 5,616,438 shares - September 30, 2023; 5,603,570 shares - December 31, 2022 | 1,123 | 1,122 | |
Additional paid-in capital | 18,554 | 18,448 | |
Accumulated other comprehensive loss, net of tax benefit of $28,717 at September 30, 2023 and $29,355 at December 31, 2022 | (86,377) | (83,070) | |
Retained earnings | 101,045 | 102,525 | |
Total shareholders' equity | 34,345 | 39,025 | |
Total liabilities and shareholders' equity | $ 1,414,010 | $ 1,324,003 | |
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.2 | $ 0.2 |
Common Stock, Shares Authorized (in shares) | 22,500,000 | 22,500,000 |
Common Stock, Shares, Issued (in shares) | 5,616,438 | 5,603,570 |
Common Stock, Shares, Outstanding (in shares) | 5,616,438 | 5,603,570 |
AOCI Tax, Attributable to Parent | $ 28,717 | $ 29,355 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest Income | ||||
Interest and fees on loans | $ 8,503 | $ 6,855 | $ 23,355 | $ 19,891 |
Interest on securities | ||||
Taxable | 2,218 | 2,130 | 6,786 | 5,728 |
Nontaxable | 1,058 | 1,057 | 3,193 | 2,987 |
Other interest | 1,040 | 80 | 1,676 | 130 |
Total interest income | 12,819 | 10,122 | 35,010 | 28,736 |
Interest Expense | ||||
Deposits | 3,481 | 496 | 7,751 | 1,580 |
Other borrowed funds | 1,906 | 577 | 4,735 | 1,057 |
Total interest expense | 5,387 | 1,073 | 12,486 | 2,637 |
Net Interest Income | 7,432 | 9,049 | 22,524 | 26,099 |
Provision for (reversal of) credit losses (PCL) | 98 | (53) | 562 | 96 |
Net Interest Income After PCL | 7,334 | 9,102 | 21,962 | 26,003 |
Other Income | ||||
Other operating income, net | 1,105 | 747 | 1,817 | 2,012 |
Total other income | 3,205 | 2,877 | 7,829 | 8,173 |
Other Expense | ||||
Salaries and employee benefits | 4,655 | 4,506 | 14,060 | 13,357 |
Occupancy expense | 1,935 | 1,968 | 5,636 | 5,454 |
Other expense | 2,494 | 2,462 | 7,125 | 6,858 |
Total other expense | 9,084 | 8,936 | 26,821 | 25,669 |
Income Before Income Taxes | 1,455 | 3,043 | 2,970 | 8,507 |
Income taxes | 248 | 463 | 323 | 1,350 |
Net Income | $ 1,207 | $ 2,580 | $ 2,647 | $ 7,157 |
Earings Per Share | ||||
-Basic (in dollars per share) | $ 0.22 | $ 0.46 | $ 0.47 | $ 1.28 |
-Diluted (in dollars per share) | 0.22 | 0.46 | 0.47 | 1.28 |
Dividends paid, per share (in dollars per share) | $ 0.16 | $ 0.24 | $ 0.56 | $ 0.72 |
Deposit Account [Member] | ||||
Other Income | ||||
Service charges on deposit accounts | $ 994 | $ 1,019 | $ 2,798 | $ 2,931 |
Financial Service, Other [Member] | ||||
Other Income | ||||
Service charges on deposit accounts | $ 1,106 | $ 1,111 | $ 3,214 | $ 3,230 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net income | $ 1,207 | $ 2,580 | $ 2,647 | $ 7,157 |
Other comprehensive (loss) income | ||||
Unrealized holding (losses) gains during the period | (9,949) | 6,805 | (8,492) | (102,377) |
Income tax effect | 2,482 | (1,698) | 2,119 | 25,543 |
Net unrealized (losses) gains | (7,467) | 5,107 | (6,373) | (76,834) |
Amortization of net unrealized losses on securities transferred from AFS to HTM | 1,128 | 439 | 3,445 | 439 |
Income tax effect | 281 | 109 | 860 | 109 |
Net unrealized gains | 847 | 330 | 2,585 | 330 |
Derivitave Instruments | ||||
Unrealized holding gains during the period | 641 | 0 | 641 | 0 |
Income tax effect | (160) | 0 | (160) | 0 |
Net unrealized gains | 481 | 0 | 481 | 0 |
Total other comprehensive (loss) income | 6,139 | (5,437) | 3,307 | 76,504 |
Comprehensive (loss) income | $ (4,932) | $ 8,017 | $ (660) | $ (69,347) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Operating Activities | ||
Net cash provided by operating activities | $ 4,386 | $ 10,864 |
Investing Activities | ||
Proceeds from maturities, paydowns and calls of securities available-for-sale | 8,654 | 36,692 |
Proceeds from maturities, paydowns and calls of securities held-to-maturity | 16,449 | 2,332 |
Purchases of investment securities | 0 | (122,120) |
Purchases of bank premises and equipment | (633) | (2,211) |
Net change in FHLB stock | (317) | (784) |
Proceeds from sale of other real estate owned | 324 | 1,155 |
Proceeds from death benefit of bank-owned life insurance | 0 | 813 |
Net change in loans | (1,743) | (6,359) |
Net cash provided by (used in) investing activities | 22,734 | (90,482) |
Financing Activities | ||
Net change in deposits | 68,295 | 23,044 |
Net change in securities sold under agreement to repurchase | 23,515 | 17,159 |
Payment of dividends | (3,143) | (4,033) |
Net cash provided by financing activities | 88,667 | 36,170 |
Net increase (decrease) in cash and cash equivalents | 115,787 | (43,448) |
Cash and cash equivalents, beginning of period | 28,594 | 79,236 |
Cash and cash equivalents, end of period | $ 144,381 | $ 35,788 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1. (in thousands, except share and per share data) Nature of Business Citizens Holding Company (referred to herein as the “Company”) owns and operates The Citizens Bank of Philadelphia (the “Bank”). As a state bank, the Bank is subject to regulations of the Mississippi Department of Banking and Consumer Finance and the Federal Deposit Insurance Company. The Company is also subject to the regulations of the Federal Reserve. The area served by the Bank is east central Mississippi, along with southern and northern counties of Mississippi and their surrounding areas. Services are provided at multiple branch offices. Significant Accounting Policies Derivative Instruments and Hedging Activities 815. Fair value hedges are utilized to mitigate the exposure to future interest rate risk. For the Company’s derivatives designated as fair value hedges, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same line item as the earnings effect of the hedged item. Basis of Presentation These interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). However, these interim consolidated financial statements do not September 30, 2023 not may The interim consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, The Citizens Bank of Philadelphia. All significant intercompany transactions have been eliminated in consolidation. For further information and significant accounting policies of the Company, see the Notes to Consolidated Financial Statements of Citizens Holding Company included in the Company’s Annual Report on Form 10 December 31, 2022, March 16, 2023. Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses (“ACL”) and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, or other real estate owned (“OREO”). In connection with the determination of the ACL and valuation of foreclosed real estate, management obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans and to value foreclosed real estate, future additions to the allowance or adjustments to the valuation may may may Impact of Recently-Issued Accounting Standards and Pronouncements: In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13” 326, Financial Instruments - Credit Losses 326” not 2016 13 2016 13” 326 2016 13 The Company adopted ASU 2016 13 January 1, 2023 one December 31, 2022 Impact of FASB ASU January 1, 2023 (as reported) 2016-13 Adoption (adjusted) Assets: ACL $ (5,264 ) $ (634 ) $ (5,898 ) Deferred tax assets, net 29,574 327 29,901 Liabilities: ACL on off-balance sheet exposures - 677 2 677 Shareholders' equity: Retained earnings $ 102,525 $ (984 ) $ 101,541 2 The allowance for credit losses on unfunded loan commitments is included in "Other liabilities" in the accompanying consolidated balance sheet. The related provision for credit losses on unfunded loan commitments is included in "Provision for credit losses" in the accompanying consolidated statements of income for the three nine September 30, 2023. Additionally, the Company made an accounting policy election to exclude accrued interest receivable from the amortized cost basis of loans and thus the measurement of the ACL in the Company’s loan portfolio. Accrued interest receivable on loans is reported as a component of accrued interest receivable on the Consolidated Balance Sheets and totaled $2,038 and $1,981 at September 30, 2023 December 31, 2022, |
Note 2 - Commitments and Contin
Note 2 - Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 2. (in thousands) In the ordinary course of business, the Company enters into commitments to extend credit to its customers. The unused portion of these commitments is not September 30, 2023, December 31, 2022. September 30, 2023 December 31, 2022. not not not The Company is a party to lawsuits and other claims that arise in the ordinary course of business, all of which are being vigorously contested. In the regular course of business, management evaluates estimated losses or costs related to litigation, and provisions are made for anticipated losses whenever management believes that such losses are probable and can be reasonably estimated. At the present time, management believes, based on the advice of legal counsel, that the final resolution of pending legal proceedings will not |
Note 3 - Net Income Per Share
Note 3 - Net Income Per Share | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 3. (in thousands, except share and per share data) Net income per share - basic has been computed based on the weighted average number of shares outstanding during each period. Net income per share - diluted has been computed based on the weighted average number of shares outstanding during each period plus the dilutive effect of outstanding stock options and restricted stock using the treasury stock method. Net income per share was computed as follows: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2023 2022 2023 2022 Basic weighted average shares outstanding 5,603,570 5,595,320 5,600,082 5,591,771 Dilutive effect of stock based compensation - - 8 - Diluted weighted average shares outstanding 5,603,570 5,595,320 5,600,090 5,591,771 Net income $ 1,207 $ 2,580 $ 2,647 $ 7,157 Net income per share-basic $ 0.22 $ 0.46 $ 0.47 $ 1.28 Net income per share-diluted $ 0.22 $ 0.46 $ 0.47 $ 1.28 |
Note 4 - Equity Compensation Pl
Note 4 - Equity Compensation Plans | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 4. (in thousands, except per share data) The Company has adopted the 2013 “2013 2013 No options were outstanding under the 2013 September 30, 2023. During 2023, 2013 one April 28, 2024 one During 2023, 2013 four March 1, 2027 four |
Note 5 - Income Taxes
Note 5 - Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 5. (in thousands) For the three September 30, 2023 2022, three September 30, 2023 2022, For the nine September 30, 2023 2022, nine September 30, 2023 2022, The provision for income taxes includes both federal and state income taxes and differs from the statutory rate due to favorable permanent differences primarily related to tax free municipal investments. |
Note 6 - Securities Available-f
Note 6 - Securities Available-for-Sale and Held-to-Maturity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 6. (in thousands) The amortized cost and estimated fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized were as follows: Gross Gross September 30, 2023 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities available-for-sale Mortgage backed securities $ 99,084 $ - $ 13,135 $ 85,949 State, County, Municipals 133,595 - 36,433 97,162 Other securities 500 - 76 424 Total $ 233,179 $ - $ 49,644 $ 183,535 December 31, 2022 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities available-for-sale Mortgage backed securities $ 107,055 $ - $ 10,083 $ 96,972 State, County, Municipals 134,906 - 30,993 103,913 Other securities 500 - 63 437 Total $ 242,461 $ - $ 41,139 $ 201,322 The amortized cost and estimated fair value of securities held-to-maturity and the corresponding amounts of gross unrealized gains and losses recognized were as follows: Gross Gross September 30, 2023 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities held-to-maturity Obligations of U.S. Government agencies $ 4,049 $ - $ 616 $ 3,433 Mortgage backed securities 295,177 - 40,991 254,186 State, County, Municipals 92,907 - 11,663 81,244 Total $ 392,133 $ - $ 53,270 $ 338,863 Gross Gross December 31, 2022 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities held-to-maturity Obligations of U.S. Government agencies $ 4,002 $ - $ 367 $ 3,635 Mortgage backed securities 309,748 - 24,654 285,094 State, County, Municipals 92,840 - 6,277 86,563 Total $ 406,590 $ - $ 31,298 $ 375,292 During the third 2022, The securities were transferred at fair value, which became the cost basis for the securities held-to-maturity. The net unrealized holding loss is amortized over the remaining life of the securities in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. There were no gains or losses recognized as a result of the transfer. At September 30, 2023, December 31, 2022. ACL on Securities ASU 2016 13 Under ASU 2016 13, In order to comply with ASU 2016 13, zero ● High credit rating ● Long history with no ● Guaranteed by a sovereign entity ● Widely recognized as “risk-free rate” ● Can print its own currency The Company will continuously monitor any changes in economic conditions, credit downgrades, changes to explicit or implicit guarantees granted to certain debt issuers, and any other relevant information that would indicate potential credit deterioration and prompt the Company to reconsider its zero At the date of adoption, the Company’s estimated allowance for credit losses on securities available-for-sale and held-to-maturity under ASU 2016 13 not Securities Available-for-Sale ASU 2016 13 not Quarterly, the Company evaluates if any security has a fair value less than its amortized cost. Once these securities are identified, in order to determine whether a decline in fair value resulted from a credit loss or other factors, the Company performs further analysis to ensure that the changes in unrealized losses are, in fact, temporary in nature by correlating the changes to the yield curve movement. Should it be determined that a credit loss exists, the credit portion of the allowance will be measured using a discounted cash flow (“DCF”) analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss the Company records will be limited to the amount by which the amortized cost exceeds the fair value. The DCF analysis utilizes contractual maturities, as well as third At September 30, 2023, not no no Securities Held-to-Maturity ASU 2016 13 ● The portfolio is segmented into agency and non-agency securities. ● The non-agency securities consists primarily of municipal securities. Each individual segment is categorized by third As discussed above, the Company has determined that for certain classes of securities it would be appropriate to conclude the expected credit loss to be zero, which include debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. This assumption will be reviewed quarterly. The Company is using an internally built model to verify the accuracy of third At September 30, 2023, no September 30, 2023. At September 30, 2023, 30 September 30, 2023. The Company monitors the credit quality of municipal securities held-to-maturity on a quarterly basis through credit ratings. The following table presents the amortized cost of the Company’s securities held-to-maturity by credit rating, as determined by Moody’s Investor Services, at September 30, 2023 December 31, 2022: September 30, 2023 December 31, 2022 Aaa $ 16,831 $ 18,096 Aa1 to Aa3 41,478 40,174 Not Rated (1) 34,598 34,570 $ 92,907 $ 92,840 ( 1 Not not s rating as of the dates reported above. However, all not s rating agency. The tables below show the Company’s gross unrealized losses and fair value of available-for-sale and held-to-maturity investments for which an ACL has not September 30, 2023 December 31, 2022. September 30, 2023 Available-for-sale Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Mortgage backed securities $ 5,839 $ 243 $ 80,110 $ 12,892 $ 85,949 $ 13,135 State, County, Municipal 6,869 404 90,293 36,029 $ 97,162 36,433 Other securities - - 424 76 424 76 Total $ 12,708 $ 647 $ 170,827 $ 48,997 $ 183,535 $ 49,644 Held-to-maturity Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Obligations of U.S. government agencies $ - $ - $ 3,433 $ 616 $ 3,433 $ 616 Mortgage backed securities - - 254,186 40,991 254,186 40,991 State, County, Municipal - - 81,244 11,663 81,244 11,663 Total $ - $ - $ 338,863 $ 53,270 $ 338,863 $ 53,270 December 31, 2022 Available-for-sale Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Mortgage backed securities $ 70,652 $ 3,838 $ 26,320 $ 6,245 $ 96,972 $ 10,083 State, County, Municipal 45,200 9,027 58,713 21,966 103,913 30,993 Other securities - - 437 63 437 63 Total $ 115,852 $ 12,865 $ 85,470 $ 28,274 $ 201,322 $ 41,139 Held-to-maturity Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Obligations of U.S. government agencies $ - $ - $ 3,635 $ 367 $ 3,635 $ 367 Mortgage backed securities 17,882 1,332 267,212 23,322 285,094 24,654 State, County, Municipal 15,059 781 71,504 5,496 86,563 6,277 Total $ 32,941 $ 2,113 $ 342,351 $ 29,185 $ 375,292 $ 31,298 The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not not not not may Contractual Maturities The amortized cost and estimated fair value of securities by contractual maturity at September 30, 2023 may Available-for-sale Held-to-maturity Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value Due in one year or less $ 500 $ 424 $ - $ - Due after one year through five years 2,930 2,802 - - Due after five years through ten years 5,514 4,855 - - Due after ten years 125,151 89,505 96,956 84,677 Residential mortgage backed securities 86,538 73,922 237,052 205,398 Commercial mortgage backed securities 12,546 12,027 58,125 48,788 Total $ 233,179 $ 183,535 $ 392,133 $ 338,863 Securities Pledged At September 30, 2023 December 31, 2022, |
Note 7- LHFI and ACL
Note 7- LHFI and ACL | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 7. (in thousands, except number of loans) The composition of LHFI at September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Loans secured by real estate: Land Development and Construction $ 61,754 $ 52,731 Farmland 10,994 11,437 1-4 Family Mortgages 94,567 92,148 Commercial Real Estate 322,623 316,541 Total Real Estate Loans 489,938 472,857 Business Loans: Commercial and Industrial Loans 79,957 96,500 Farm Production and Other Farm Loans 359 504 Total Business Loans 80,316 97,004 Consumer Loans: Consumer Loans 13,973 12,992 Credit Cards 3,011 2,738 Total Consumer Loans 16,984 15,730 Gross LHFI 587,238 585,591 Less Allowance for credit losses (6,390 ) (5,264 ) Net LHFI $ 580,848 $ 580,327 Nonaccrual and Past Due LHFI The amortized cost basis of period-end, nonaccrual and past due LHFI, segregated by class, were as follows: Nonaccrual With No Allowance for Credit Loss Nonaccrual Loans Past Due 90 Days or More Still Accruing September 30, 2023 Loans secured by real estate: Land Development and Construction $ 248 $ 248 $ - Farmland 26 104 - 1-4 Family Mortgages 77 1,803 - Commercial Real Estate - 508 - Total Real Estate Loans 351 2,663 - Business Loans: Commercial and Industrial Loans 124 301 - Farm Production and Other Farm Loans - - - Total Business Loans 124 301 - Consumer Loans: Consumer Loans - 45 - Credit Cards - - 10 Total Consumer Loans - 45 10 Total $ 475 $ 3,009 $ 10 The following disclosures are presented under GAAP in effect prior to the adoption of CECL. The Company has included these disclosures to address the applicable prior period. Nonaccrual Loans Past Due 90 Days or More Still Accruing December 31, 2022 Loans secured by real estate: Land Development and Construction $ - $ 4 Farmland 117 - 1-4 Family Mortgages 1,720 - Commercial Real Estate 846 95 Total Real Estate Loans 2,683 99 Business Loans: Commercial and Industrial Loans 281 - Farm Production and Other Farm Loans - - Total Business Loans 281 - Consumer Loans: Consumer Loans 24 - Credit Cards - 12 Total Consumer Loans 24 12 Total $ 2,988 $ 111 No three nine September 30, 2023 2022. An aging analysis of the amortized cost basis of LHFI (including nonaccrual LHFI), segregated by class, was as follows: September 30, 2023 30 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Loans Total Loans secured by real estate: Land Development and Construction $ - $ 248 $ 248 $ 61,506 $ 61,754 Farmland 17 26 43 10,951 10,994 1-4 Family Mortgages 1,451 285 1,736 92,831 94,567 Commercial Real Estate 650 67 717 321,906 322,623 Total Real Estate Loans 2,118 626 2,744 487,194 489,938 Business Loans: Commercial and Industrial Loans 81 266 347 79,610 79,957 Farm Production and Other Farm Loans 5 - 5 354 359 Total Business Loans 86 266 352 79,964 80,316 Consumer Loans: Consumer Loans 67 - 67 13,906 13,973 Credit Cards 53 10 63 2,948 3,011 Total Consumer Loans 120 10 130 16,854 16,984 Total $ 2,324 $ 902 $ 3,226 $ 584,012 $ 587,238 December 31, 2022 30 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Loans Total Loans secured by real estate: Land Development and Construction $ - $ 4 $ 4 $ 52,727 $ 52,731 Farmland 38 30 68 11,369 11,437 1-4 Family Mortgages 1,799 439 2,238 89,910 92,148 Commercial Real Estate 933 486 1,419 315,122 316,541 Total Real Estate Loans 2,770 959 3,729 469,128 472,857 Business Loans: Commercial and Industrial Loans 109 277 386 96,114 96,500 Farm Production and Other Farm Loans 4 - 4 500 504 Total Business Loans 113 277 390 96,614 97,004 Consumer Loans: Consumer Loans 66 23 89 12,903 12,992 Credit Cards 56 12 68 2,670 2,738 Total Consumer Loans 122 35 157 15,573 15,730 Total $ 3,005 $ 1,271 $ 4,276 $ 581,315 $ 585,591 Impaired LHFI Prior to the adoption of FASB ASC Topic 326, $100 310 10 50 20 No September 30, 2023 2022. The following disclosures are presented under GAAP in effect prior to the adoption of CECL that are no Loans formerly accounted for under FASB ASC 310 20, 310 20” 310, 310” December 31, 2022: Recorded Recorded Unpaid Investment Investment Total Average Principal With No With Recorded Related Recorded Balance Allowance Allowance Investment Allowance Investment Real Estate: Land Development and Construction $ - $ - $ - $ - $ - $ 86 Farmland 30 30 - 30 - 32 1-4 Family Mortgages 190 190 - 190 - 479 Commercial Real Estate 3,023 795 2,066 2,861 116 1,996 Total Real Estate Loans 3,243 1,015 2,066 3,081 116 $ 2,593 Business Loans: Commercial and Industrial Loans 304 196 - 196 - $ 214 Total Business Loans 304 196 - 196 - $ 214 Total Loans $ 3,547 $ 1,211 $ 2,066 $ 3,277 $ 116 $ 2,807 Loan Modifications The Company adopted ASU 2022 02, 326 January 1, 2023. January 1, 2023 Based on the guidance in ASU 2022 02, not not The Company had no third 2023. At September 30, 2023, September 30, 2023, September 30, 2023. The allocated ACL attributable to modified loans was $159 at September 30, 2023. September 30, 2023. There were no loans modified within the last twelve three nine September, 2023. At September 30, 2023 December 31, 2022, 1 4 Collateral-Dependent Loans The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of September 30, 2023: September 30, 2023 Bonds Inventory Real Estate Receivables Total Loans secured by real estate: Land Development and Construction $ - $ - $ 248 $ - $ 248 Farmland - - 26 - 26 1-4 Family Mortgages - - 300 - 300 Commercial Real Estate - - 2,418 - 2,418 Total Real Estate Loans - - 2,992 - 2,992 Business Loans: Commercial and Industrial Loans 1,300 92 - 32 1,424 Farm Production and Other Farm Loans - - - - - Total Business Loans 1,300 92 - 32 1,424 Total $ 1,300 $ 92 $ 2,992 $ 32 $ 4,416 A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The following provides a qualitative description by class of loan of the collateral that secures the Company’s collateral-dependent LHFI: ● Loans secured by real estate – Loans within these loan classes are secured by liens on real estate properties. There have been no ● Business loans – Loans within this loan class are primarily secured by inventory, accounts receivables, equipment and other non-real estate collateral. There have been no Credit Quality Indicators The Company utilizes a risk grading matrix to assign a risk grade to each of its loans when originated and is updated as factors related to the strength of the loan changes. Loans are graded on a scale of 1 9. 9 Grade 1. Grade 2. may Grade 3. Grade 4. one may not Grade 5. may Grade 6. may, not no Grade 7. not not Grade 8. may may Grade 9. not not no not may These internally assigned grades are updated on a continual basis throughout the course of the year and represent management’s most updated judgment regarding grades at September 30, 2023. The following table details the amortized cost basis of LHFI, segregated by loan origination year, grade and class, as of September 30, 2023: Term Loans Amortized Cost Basis by Origination Year September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Total Loans Loans secured by real estate: Land Development and Construction Satisfactory - Categories 1-4 $ 21,605 $ 4,646 $ 1,290 $ 12,469 $ 881 $ 232 $ 19,083 $ 60,206 Special Mention - Category 5 & 6 - 356 679 - - - - 1,035 Substandard - Category 7 - 513 - - - - - 513 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Land Development and Construction 21,605 5,515 1,969 12,469 881 232 19,083 61,754 Farmland Satisfactory - Categories 1-4 1,345 1,590 1,273 1,906 3,042 570 899 10,625 Special Mention - Category 5 & 6 - - 84 - 132 38 - 254 Substandard - Category 7 - 33 10 6 19 47 - 115 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Farmland 1,345 1,623 1,367 1,912 3,193 655 899 10,994 1-4 Family Mortgages Satisfactory - Categories 1-4 8,940 19,417 11,949 11,415 9,723 7,040 19,995 88,479 Special Mention - Category 5 & 6 552 189 95 485 299 785 201 2,606 Substandard - Category 7 137 35 274 267 82 2,057 549 3,401 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - 81 - - 81 Total 1-4 Family Mortgages 9,629 19,641 12,318 12,167 10,185 9,882 20,745 94,567 Commercial Real Estate Satisfactory - Categories 1-4 40,527 51,865 58,617 53,373 25,109 32,905 17,180 279,576 Special Mention - Category 5 & 6 9,262 2,439 2,227 931 4,566 297 4,131 23,853 Substandard - Category 7 - 67 3,654 - 265 15,208 - 19,194 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Commercial Real Estate 49,789 54,371 64,498 54,304 29,940 48,410 21,311 322,623 Total Real Estate Loans 82,368 81,150 80,152 80,852 44,199 59,179 62,038 489,938 Business Loans: Commercial and Industrial Loans Satisfactory - Categories 1-4 9,013 21,619 4,729 14,344 6,263 10,431 8,839 75,238 Special Mention - Category 5 & 6 - 121 - 277 4 453 2,151 3,006 Substandard - Category 7 - 17 92 - 38 731 835 1,713 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Commercial & Industrial 9,013 21,757 4,821 14,621 6,305 11,615 11,825 79,957 Farm Production and Other Farm Loans Satisfactory - Categories 1-4 - 185 - - - 90 78 353 Special Mention - Category 5 & 6 - - - - - - - - Substandard - Category 7 - - 5 - - 1 - 6 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Farm Production & Other Farm - 185 5 - - 91 78 359 Total Business Loans 9,013 21,942 4,826 14,621 6,305 11,706 11,903 80,316 Consumer Loans: Satisfactory - Categories 1-4 5,936 3,930 1,656 733 881 207 257 13,600 Special Mention - Category 5 & 6 - - - - - - - - Substandard - Category 7 307 36 29 1 - - - 373 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Consumer Loans 6,243 3,966 1,685 734 881 207 257 13,973 Credit Cards Performing - - - - - - 3,001 3,001 Nonperforming - - - - - - 10 10 Total Credit Card - - - - - - 3,011 3,011 Gross LHFI $ 97,624 $ 107,058 $ 86,663 $ 96,207 $ 51,385 $ 71,092 $ 77,209 $ 587,238 Less ACL (6,390 ) Net LHFI $ 580,848 There were no three nine September 30, 2023. The following disclosures are presented under GAAP in effect prior to the adoption of CECL. The Company has included these disclosures to address the applicable prior period. A discussion of the Company’s policies regarding internal risk-rating of loans is discussed above and is applicable to these tables. The following table presents the Company’s loan portfolio by internal risk-rating grades as of December 31, 2022: Special Satisfactory Mention Substandard Doubtful Loss Total 1,2,3,4 5,6 7 8 9 Loans Real Estate: Land Development and Construction $ 50,015 $ 2,427 $ 289 $ - $ - $ 52,731 Farmland 10,832 269 336 - - 11,437 1-4 Family Mortgages 85,861 1,816 4,471 - - 92,148 Commercial Real Estate 274,901 7,975 33,665 - - 316,541 Total Real Estate Loans 421,609 12,487 38,761 - - 472,857 Business Loans: Commercial and Industrial Loans 91,016 4,902 577 - 5 96,500 Farm Production and Other Farm Loans 491 - 13 - - 504 Total Business Loans 91,507 4,902 590 - 5 97,004 Consumer Loans: Other Consumer Loans 12,934 7 51 - - 12,992 Credit Cards 2,670 - 68 - - 2,738 Total Consumer Loans 15,604 7 119 - - 15,730 Total Loans $ 528,720 $ 17,396 $ 39,470 $ - $ 5 $ 585,591 |
Note 8 - ACL on LHFI
Note 8 - ACL on LHFI | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 8. The Company’s ACL methodology for LHFI is based upon guidance within ASC Subtopic 326 20 The methodology for estimating the amount of expected credit losses reported in the ACL has two not The loans secured by real estate segment includes loans for both commercial and residential properties. The underwriting process for these loans includes analysis of the financial position and strength of both the borrower and guarantor, experience with similar projects in the past, market demand and prospects for successful completion of the proposed project within the established budget and schedule, values of underlying collateral, availability of permanent financing, maximum loan-to-value ratios, minimum equity requirements, acceptable amortization periods and minimum debt service coverage requirements, based on property type. The borrower’s financial strength and capacity to repay their obligations remain the primary focus of underwriting. Financial strength is evaluated based upon analytical tools that consider historical and projected cash flows and performance in addition to a financial analysis of any proposed project. Additional support offered by guarantors is also considered. Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity and availability of long-term financing. The business loan segment includes loans within the Company’s geographic markets made to many types of businesses for various purposes, such as short term working capital loans that are usually secured by accounts receivable and inventory and term financing for equipment and fixed asset purchases that are secured by those assets. The Company’s credit underwriting process for commercial and industrial loans includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information and evaluation of underlying collateral to support the credit. The consumer LHFI portfolio segment is comprised of loans that are centrally underwritten based on a credit scoring system as well as an evaluation of the borrower’s repayment capacity, credit, and collateral. Property appraisals are obtained to assist in evaluating collateral. Loan-to-value and debt-to-income ratios, loan amount, and lien position are also considered in assessing whether to originate a loan. These borrowers are particularly susceptible to downturns in economic trends such as conditions that negatively affect housing prices and demand and levels of unemployment. The following table provides a description of each of the Company’s portfolio segments, loan classes, loan pools and the ACL methodology and loss drivers: Portfolio Segment Loan Class Methodology Loss Drivers Loans secured by real estate Land Development and Construction Loss Rate CRE Price Index, Real GDP, US Unemployment Farmland Loss Rate CRE Price Index, Real GDP, US Unemployment 1 4 Loss Rate CRE Price Index, Real GDP, US Unemployment Commercial Real Estate Loss Rate CRE Price Index, Real GDP, US Unemployment Business loans Commercial and Industrial Loans Loss Rate US Unemployment, Nominal GDP Farm Production and Other Farm Loans Loss Rate US Unemployment, Nominal GDP Consumer loans Consumer Loans Loss Rate Moody's Expected Consumer Credit Loss Model Credit Cards WARM Company loss history Overdrafts WARM Company loss history The Loss Rate model is designed to operate at the portfolio segment level. These segments are relatively homogenous groups of loans with similar characteristics. Based on the average inputs of each segment, the model then calculates both quarterly and lifetime loss rates for the entire segment by loan. The lifetime loss rate is then multiplied by the amortized cost of each loan within a class to get a quantitative reserve. The Company chose the Weighted Average Remaining Maturity (“WARM”) method for two The Company determined that reasonable and supportable forecasts could be made for a twelve four 326. In addition to the items mentioned above, the Company incorporates qualitative factors into the ACL methodology, including the following: ● Lending expertise ● Risk tolerance measured through lending policy requirements ● Quality of the loan review system ● Changes in collateral valuations ● External factors within the Company’s operating region, including economic conditions ● Impact of competition The qualitative reserve is calculated by taking the quantitative reserve rate and multiplying this rate by the qualitative factor (“Q-factor”) scalar. The Q-factor scalar takes the average of all the Q-factors selected for a specific loan class. Each Q-factor is given a rating between 0 100 0 no 100 The following table details activity in the ACL by portfolio segment for the three nine September 30, 2023: Real Business Estate Loans Consumer Total Beginning Balance, January 1, 2023 $ 4,154 $ 713 $ 397 $ 5,264 FASB ASU 2016-13 adoption adjustment 665 56 (86 ) 635 PCL (46 ) 112 (19 ) 47 Chargeoffs 1 - 32 33 Recoveries 26 7 71 104 Net recoveries (25 ) (7 ) (39 ) (71 ) Ending Balance March 31, 2023 $ 4,798 $ 888 $ 331 $ 6,017 PCL 564 (222 ) 30 372 Chargeoffs 18 67 34 119 Recoveries 46 5 60 111 Net recoveries (28 ) 62 (26 ) 8 Ending Balance June 30, 2023 $ 5,334 $ 728 $ 335 $ 6,397 PCL 218 (127 ) 14 105 Chargeoffs 2 5 59 66 Recoveries 124 22 32 178 Net recoveries (122 ) (17 ) 27 (112 ) Ending Balance September 30, 2023 $ 5,430 $ 584 $ 376 $ 6,390 Period end allowance allocated to: Loans individually evaluated for impairment $ 158 $ - $ - $ 158 Loans collectively evaluated for impairment 5,272 584 376 6,232 Ending Balance, September 30, 2023 $ 5,430 $ 584 $ 376 $ 6,390 September 30, 2023 Loans individually evaluated for specific impairment $ 2,993 $ 1,424 $ - $ 4,417 Loans collectively evaluated for general impairment 486,945 78,892 16,984 582,821 $ 489,938 $ 80,316 $ 16,984 $ 587,238 The following table details activity in the ACL by portfolio segment, based on the Company’s former allowance methodology prior to the adoption of ASC 326, three nine September 30, 2022: Real Business Estate Loans Consumer Total Beginning Balance, January 1, 2022 $ 3,622 $ 645 $ 246 $ 4,513 PCL 170 57 (134 ) 93 Chargeoffs - 56 26 82 Recoveries 50 5 197 252 Net chargeoffs (recoveries) (50 ) 51 (171 ) (170 ) Ending Balance March 31, 2022 $ 3,842 $ 651 $ 283 $ 4,776 PCL 81 8 (33 ) 56 Chargeoffs 1 - 20 21 Recoveries 60 15 160 235 Net recoveries (59 ) (15 ) (140 ) (214 ) Ending Balance June 30, 2022 $ 3,982 $ 674 $ 390 $ 5,046 PCL (20 ) (27 ) (6 ) (53 ) Chargeoffs 6 5 11 22 Recoveries 23 6 68 97 Net recoveries (17 ) (1 ) (57 ) (75 ) Ending Balance September 30, 2022 $ 3,979 $ 648 $ 441 $ 5,068 Period end allowance allocated to: Loans individually evaluated for impairment $ - $ - $ - $ - Loans collectively evaluated for impairment 3,979 648 441 5,068 Ending Balance, September 30, 2022 $ 3,979 $ 648 $ 441 $ 5,068 September 30, 2022 Loans individually evaluated for specific impairment $ 1,286 $ 196 $ - $ 1,482 Loans collectively evaluated for general impairment 473,280 88,339 15,564 577,183 $ 474,566 $ 88,535 $ 15,564 $ 578,665 The Company recorded a provision for credit losses of $105 during the third 2023, third 2022. The following table represents gross charge-offs by year of origination for the date presented: Revolving Total Charge- 2023 2022 2021 2020 2019 Prior Loans Offs Gross Charge-Offs September 30, 2023 Loans secured by real estate: Commercial Real Estate $ - $ - $ - $ - $ 5 $ 16 $ - $ 21 Total Real Estate Loans - - - - 5 16 - 21 Business Loans Commercial and Industrial Loans 5 - - - - 67 - 72 Total Business Loans 5 - - - - 67 - 72 Total Consumer Loans 5 28 2 4 - - - 39 Total Credit Card - - - - - - 86 86 Net LHFI $ 10 $ 28 $ 2 $ 4 $ 5 $ 83 $ 86 $ 218 ACL for Off-Balance Sheet Credit Exposure The Company maintains a separate ACL for Off-Balance Sheet Credit Exposure, which is included in the “Other liabilities” line item on the Consolidated Balance Sheets. The Company estimates the amount of expected losses on off-balance sheet credit exposure by calculating a likelihood of funding over the contractual period for exposures that are not No The following table provides a roll-forward of the ACL for off-balance sheet credit exposure for the period presented: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2023 2023 ACL for off-balance sheet credit exposure: Beginning balance $ 681 $ - FASB ASU 2016-13 adoption adjustment - 677 PCL for off-balance sheet credit exposure 230 234 Ending Balance $ 911 $ 911 The Company recorded a PCL for off-balance sheet credit exposure for the three nine September 30, 2023 |
Note 9 - Derivative Instruments
Note 9 - Derivative Instruments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 9. The company uses certain derivative instruments to meet the needs of customers as well as to manage the interest rate risk associated with certain transactions. Derivatives designated as fair value hedges Fair value hedges protect against changes in the fair value of an asset, liability, or firm commitment. The Company enters into interest rate swap agreements to manage interest rate exposure on certain of the Company’s fixed-rate investment portfolio. The agreements convert the fixed interest rates to variable interest rates. The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented: Balance Sheet September 30,2023 December 31, 2022 Location Notional Amount Fair Value Notional Amount Fair Value Derivative Assets: Interest rate swaps Other Assets $ 66,600 $ 641 $ - $ - The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented: Amount of Gain (Loss) Recognized in Income Income Statement Three Months Ended September 30, Nine Months Ended September 30, Location 2023 2022 2023 2022 Derivative assets: Interest rate swaps - investment securities Interest Income $ 106 $ - $ 106 $ - Derivative assets - hedged items: Interest rate swaps - investment securities Interest Income $ (106 ) $ - $ (106 ) $ - |
Note 10 - Secured Line of Credi
Note 10 - Secured Line of Credit | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note 10. (in thousands) On June 9, 2021, first July 1, 2021, September 30, 2023, June 9, 2024, September 30, 2023 December 31, 2022 Funded balance $ 18,000 $ 18,000 Unfunded balance 2,000 2,000 Total credit facility $ 20,000 $ 20,000 |
Note 11 - Shareholders' Equity
Note 11 - Shareholders' Equity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 11. Equity (in thousands, except share data) The following summarizes the activity in the capital structure of the Company: Accumulated Number Additional Other of Shares Common Paid-In Comprehensive Retained Issued Stock Capital (Loss) Income Earnings Total Balance, January 1, 2023 5,603,570 $ 1,122 $ 18,448 $ (83,070 ) $ 102,525 $ 39,025 FASB ASU 2016-13 adoption adjustment (984 ) (984 ) Net income - - - - 1,140 1,140 Dividends paid ($0.24 per share) - - - - (1,346 ) (1,346 ) Restricted stock granted 3,868 - - - - - Stock compensation expense - - 40 - - 40 Other comprehensive loss, net - - - 3,248 - 3,248 Balance, March 31, 2023 5,607,438 $ 1,122 $ 18,488 $ (79,822 ) $ 101,335 $ 41,123 Net income - - - - 300 300 Dividends paid ($0.16 per share) - - - - (898 ) (898 ) Restricted stock granted 9,000 1 (1 ) - - - Stock compensation expense - - 32 - - 32 Other comprehensive loss, net - - - (416 ) - (416 ) Balance, June 30, 2023 5,616,438 $ 1,123 $ 18,519 $ (80,238 ) $ 100,737 $ 40,141 Net income - - - - 1,207 1,207 Dividends paid ($0.16 per share) - - - - (899 ) (899 ) Stock compensation expense - - 35 - - 35 Other comprehensive income, net - - - (6,139 ) - (6,139 ) Balance, September 30, 2023 5,616,438 $ 1,123 $ 18,554 $ (86,377 ) $ 101,045 $ 34,345 Accumulated Number Additional Other of Shares Common Paid-In Comprehensive Retained Issued Stock Capital Income (Loss) Earnings Total Balance, January 1, 2022 5,595,320 $ 1,120 $ 18,293 $ (11,795 ) $ 98,282 $ 105,900 Net income - - - - 2,036 2,036 Dividends paid ($0.24 per share) - - - - (1,343 ) (1,343 ) Stock compensation expense - - 39 - - 39 Other comprehensive loss, net - - - (43,682 ) - (43,682 ) Balance, March 31, 2022 5,595,320 $ 1,120 $ 18,332 $ (55,477 ) $ 98,975 $ 62,950 Net income - - - - 2,541 2,541 Dividends paid ($0.24 per share) - - - - (1,345 ) (1,345 ) Restricted stock granted 8,250 1 (1 ) - - - Stock compensation expense - - 39 - - 39 Other comprehensive income, net - - - (38,259 ) - (38,259 ) Balance, June 30, 2022 5,603,570 1,121 18,370 (93,736 ) 100,171 25,926 Net income - - - - 2,580 2,580 Dividends paid ($0.24 per share) - - - - (1,345 ) (1,345 ) Stock compensation expense - - 39 - - 39 Other comprehensive loss, net - - - 5,437 - 5,437 Balance, September 30, 2022 5,603,570 $ 1,121 $ 18,409 $ (88,299 ) $ 101,406 $ 32,637 |
Note 12 - Fair Values of Financ
Note 12 - Fair Values of Financial Instruments | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 12. (in thousands) The fair value topic of the ASC establishes a framework for measuring fair value and requires enhanced disclosures about fair value measurements. This topic clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. This topic also requires disclosure about how fair value was determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices in active markets for identical assets and liabilities included in Level 1 not Level 3 Unobservable inputs for an asset or liability, such as discounted cash flow models or valuations. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents assets and liabilities that were measured at fair value on a recurring basis as of September 30, 2023: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Derivative instruments $ - $ 641 $ - $ 641 Securities available-for-sale Mortgage-backed securities - 85,949 - 85,949 State, county and municipal - 97,162 - 97,162 Other securities - 424 - 424 Total $ - $ 184,176 $ - $ 184,176 The following table presents assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2022: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Securities available-for-sale Mortgage-backed securities $ - $ 96,972 $ - $ 96,972 State, county and municipal - 103,913 - 103,913 Other securities - 437 - 437 Total $ - $ 201,322 $ - $ 201,322 The Company recorded no nine September 30, 2023 December 31, 2022 Loans Individually Evaluated For Impairment Loans considered individually evaluated are reserved for at the time the loan is identified as impaired taking into account the fair value of the collateral less estimated selling costs. Collateral may not may not 3. may 25% Other real estate owned OREO is primarily comprised of real estate acquired in partial or full satisfaction of loans. OREO is recorded at its estimated fair value less estimated selling and closing costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the ACL. Subsequent changes in fair value are reported as adjustments to the carrying amount and are recorded against earnings. The Company outsources the valuation of OREO with material balances to third third 25% The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the balance sheets as of the dates presented and the level within the fair value hierarchy each is classified: September 30, 2023 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Loans individually evaluated for impairment $ - $ - $ 2,483 $ 2,483 Total $ - $ - $ 2,483 $ 2,483 December 31, 2022 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Loans individually evaluated for impairment $ - $ - $ 2,074 $ 2,074 Total $ - $ - $ 2,074 $ 2,074 Individually evaluated loans, whose fair value was remeasured during the period, with a carrying value of $2,641 and $2,190, had an allocated ACL of $158 and $116 at September 30, 2023 December 31, 2022, After monitoring the carrying amounts for subsequent declines or impairments after foreclosure, management determined that no three nine September 30, 2023 December 31, 2022, The financial instruments topic of the ASC requires disclosure of financial instruments’ fair values, as well as the methodology and significant assumptions used in estimating fair values. In cases where quoted market prices are not not September 30, 2023: Quoted Prices in Active Significant Markets for Other Significant Total Carrying Identical Observable Unobservable Fair September 30, 2023 Value Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 14,061 $ 14,061 $ - $ - $ 14,061 Interest bearing deposits with banks 130,320 130,320 - - 130,320 Securities held-to-maturity 392,133 - 338,863 - 338,863 Securities available-for-sale 183,535 - 183,535 - 183,535 Net LHFI 580,848 - - 546,924 546,924 Derivative instruments 641 - 641 - 641 Financial liabilities Deposits $ 1,194,697 $ 958,179 $ 212,108 $ - $ 1,170,287 Securities sold under agreement to repurchase 151,089 151,089 - - 151,089 Borrowings on secured line of credit 18,000 18,000 - - 18,000 The following represents the carrying value and estimated fair value of the Company’s financial instruments at December 31, 2022: Quoted Prices in Active Significant Markets for Other Significant Total Carrying Identical Observable Unobservable Fair December 31, 2022 Value Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 26,948 $ 26,948 $ - $ - $ 26,948 Interest bearing deposits with banks 1,646 1,646 - - 1,646 Securities held-to-maturity 406,590 - 375,292 - 375,292 Securities available-for-sale 201,322 - 201,322 - 201,322 Net LHFI 580,327 - - 541,173 541,173 Financial liabilities Deposits $ 1,126,402 $ 947,479 $ 178,902 $ - $ 1,126,381 Securities sold under agreement to repurchase 127,574 127,574 - - 127,574 Borrowings on secured line of credit 18,000 18,000 - - 18,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Derivatives, Policy [Policy Text Block] | Derivative Instruments and Hedging Activities 815. Fair value hedges are utilized to mitigate the exposure to future interest rate risk. For the Company’s derivatives designated as fair value hedges, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same line item as the earnings effect of the hedged item. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation These interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). However, these interim consolidated financial statements do not September 30, 2023 not may The interim consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, The Citizens Bank of Philadelphia. All significant intercompany transactions have been eliminated in consolidation. For further information and significant accounting policies of the Company, see the Notes to Consolidated Financial Statements of Citizens Holding Company included in the Company’s Annual Report on Form 10 December 31, 2022, March 16, 2023. |
Use of Estimates, Policy [Policy Text Block] | Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses (“ACL”) and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, or other real estate owned (“OREO”). In connection with the determination of the ACL and valuation of foreclosed real estate, management obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans and to value foreclosed real estate, future additions to the allowance or adjustments to the valuation may may may |
New Accounting Pronouncements, Policy [Policy Text Block] | Impact of Recently-Issued Accounting Standards and Pronouncements: In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13” 326, Financial Instruments - Credit Losses 326” not 2016 13 2016 13” 326 2016 13 The Company adopted ASU 2016 13 January 1, 2023 one December 31, 2022 Impact of FASB ASU January 1, 2023 (as reported) 2016-13 Adoption (adjusted) Assets: ACL $ (5,264 ) $ (634 ) $ (5,898 ) Deferred tax assets, net 29,574 327 29,901 Liabilities: ACL on off-balance sheet exposures - 677 2 677 Shareholders' equity: Retained earnings $ 102,525 $ (984 ) $ 101,541 2 The allowance for credit losses on unfunded loan commitments is included in "Other liabilities" in the accompanying consolidated balance sheet. The related provision for credit losses on unfunded loan commitments is included in "Provision for credit losses" in the accompanying consolidated statements of income for the three nine September 30, 2023. Additionally, the Company made an accounting policy election to exclude accrued interest receivable from the amortized cost basis of loans and thus the measurement of the ACL in the Company’s loan portfolio. Accrued interest receivable on loans is reported as a component of accrued interest receivable on the Consolidated Balance Sheets and totaled $2,038 and $1,981 at September 30, 2023 December 31, 2022, |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | December 31, 2022 Impact of FASB ASU January 1, 2023 (as reported) 2016-13 Adoption (adjusted) Assets: ACL $ (5,264 ) $ (634 ) $ (5,898 ) Deferred tax assets, net 29,574 327 29,901 Liabilities: ACL on off-balance sheet exposures - 677 2 677 Shareholders' equity: Retained earnings $ 102,525 $ (984 ) $ 101,541 |
Note 3 - Net Income Per Share (
Note 3 - Net Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Nine Months Ended September 30, Ended September 30, 2023 2022 2023 2022 Basic weighted average shares outstanding 5,603,570 5,595,320 5,600,082 5,591,771 Dilutive effect of stock based compensation - - 8 - Diluted weighted average shares outstanding 5,603,570 5,595,320 5,600,090 5,591,771 Net income $ 1,207 $ 2,580 $ 2,647 $ 7,157 Net income per share-basic $ 0.22 $ 0.46 $ 0.47 $ 1.28 Net income per share-diluted $ 0.22 $ 0.46 $ 0.47 $ 1.28 |
Note 6 - Securities Available_2
Note 6 - Securities Available-for-Sale and Held-to-Maturity (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Debt Securities, Available-for-Sale [Table Text Block] | Gross Gross September 30, 2023 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities available-for-sale Mortgage backed securities $ 99,084 $ - $ 13,135 $ 85,949 State, County, Municipals 133,595 - 36,433 97,162 Other securities 500 - 76 424 Total $ 233,179 $ - $ 49,644 $ 183,535 December 31, 2022 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities available-for-sale Mortgage backed securities $ 107,055 $ - $ 10,083 $ 96,972 State, County, Municipals 134,906 - 30,993 103,913 Other securities 500 - 63 437 Total $ 242,461 $ - $ 41,139 $ 201,322 Gross Gross September 30, 2023 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities held-to-maturity Obligations of U.S. Government agencies $ 4,049 $ - $ 616 $ 3,433 Mortgage backed securities 295,177 - 40,991 254,186 State, County, Municipals 92,907 - 11,663 81,244 Total $ 392,133 $ - $ 53,270 $ 338,863 Gross Gross December 31, 2022 Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value Securities held-to-maturity Obligations of U.S. Government agencies $ 4,002 $ - $ 367 $ 3,635 Mortgage backed securities 309,748 - 24,654 285,094 State, County, Municipals 92,840 - 6,277 86,563 Total $ 406,590 $ - $ 31,298 $ 375,292 |
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block] | September 30, 2023 December 31, 2022 Aaa $ 16,831 $ 18,096 Aa1 to Aa3 41,478 40,174 Not Rated (1) 34,598 34,570 $ 92,907 $ 92,840 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2023 Available-for-sale Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Mortgage backed securities $ 5,839 $ 243 $ 80,110 $ 12,892 $ 85,949 $ 13,135 State, County, Municipal 6,869 404 90,293 36,029 $ 97,162 36,433 Other securities - - 424 76 424 76 Total $ 12,708 $ 647 $ 170,827 $ 48,997 $ 183,535 $ 49,644 Held-to-maturity Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Obligations of U.S. government agencies $ - $ - $ 3,433 $ 616 $ 3,433 $ 616 Mortgage backed securities - - 254,186 40,991 254,186 40,991 State, County, Municipal - - 81,244 11,663 81,244 11,663 Total $ - $ - $ 338,863 $ 53,270 $ 338,863 $ 53,270 December 31, 2022 Available-for-sale Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Mortgage backed securities $ 70,652 $ 3,838 $ 26,320 $ 6,245 $ 96,972 $ 10,083 State, County, Municipal 45,200 9,027 58,713 21,966 103,913 30,993 Other securities - - 437 63 437 63 Total $ 115,852 $ 12,865 $ 85,470 $ 28,274 $ 201,322 $ 41,139 Held-to-maturity Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Obligations of U.S. government agencies $ - $ - $ 3,635 $ 367 $ 3,635 $ 367 Mortgage backed securities 17,882 1,332 267,212 23,322 285,094 24,654 State, County, Municipal 15,059 781 71,504 5,496 86,563 6,277 Total $ 32,941 $ 2,113 $ 342,351 $ 29,185 $ 375,292 $ 31,298 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-sale Held-to-maturity Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value Due in one year or less $ 500 $ 424 $ - $ - Due after one year through five years 2,930 2,802 - - Due after five years through ten years 5,514 4,855 - - Due after ten years 125,151 89,505 96,956 84,677 Residential mortgage backed securities 86,538 73,922 237,052 205,398 Commercial mortgage backed securities 12,546 12,027 58,125 48,788 Total $ 233,179 $ 183,535 $ 392,133 $ 338,863 |
Note 7- LHFI and ACL (Tables)
Note 7- LHFI and ACL (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Financing Receivable, Nonaccrual [Table Text Block] | Nonaccrual With No Allowance for Credit Loss Nonaccrual Loans Past Due 90 Days or More Still Accruing September 30, 2023 Loans secured by real estate: Land Development and Construction $ 248 $ 248 $ - Farmland 26 104 - 1-4 Family Mortgages 77 1,803 - Commercial Real Estate - 508 - Total Real Estate Loans 351 2,663 - Business Loans: Commercial and Industrial Loans 124 301 - Farm Production and Other Farm Loans - - - Total Business Loans 124 301 - Consumer Loans: Consumer Loans - 45 - Credit Cards - - 10 Total Consumer Loans - 45 10 Total $ 475 $ 3,009 $ 10 Nonaccrual Loans Past Due 90 Days or More Still Accruing December 31, 2022 Loans secured by real estate: Land Development and Construction $ - $ 4 Farmland 117 - 1-4 Family Mortgages 1,720 - Commercial Real Estate 846 95 Total Real Estate Loans 2,683 99 Business Loans: Commercial and Industrial Loans 281 - Farm Production and Other Farm Loans - - Total Business Loans 281 - Consumer Loans: Consumer Loans 24 - Credit Cards - 12 Total Consumer Loans 24 12 Total $ 2,988 $ 111 |
Impaired Financing Receivables [Table Text Block] | Recorded Recorded Unpaid Investment Investment Total Average Principal With No With Recorded Related Recorded Balance Allowance Allowance Investment Allowance Investment Real Estate: Land Development and Construction $ - $ - $ - $ - $ - $ 86 Farmland 30 30 - 30 - 32 1-4 Family Mortgages 190 190 - 190 - 479 Commercial Real Estate 3,023 795 2,066 2,861 116 1,996 Total Real Estate Loans 3,243 1,015 2,066 3,081 116 $ 2,593 Business Loans: Commercial and Industrial Loans 304 196 - 196 - $ 214 Total Business Loans 304 196 - 196 - $ 214 Total Loans $ 3,547 $ 1,211 $ 2,066 $ 3,277 $ 116 $ 2,807 |
Schedule of Collateral Dependent Loans [Table Text Block] | September 30, 2023 Bonds Inventory Real Estate Receivables Total Loans secured by real estate: Land Development and Construction $ - $ - $ 248 $ - $ 248 Farmland - - 26 - 26 1-4 Family Mortgages - - 300 - 300 Commercial Real Estate - - 2,418 - 2,418 Total Real Estate Loans - - 2,992 - 2,992 Business Loans: Commercial and Industrial Loans 1,300 92 - 32 1,424 Farm Production and Other Farm Loans - - - - - Total Business Loans 1,300 92 - 32 1,424 Total $ 1,300 $ 92 $ 2,992 $ 32 $ 4,416 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Term Loans Amortized Cost Basis by Origination Year September 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Total Loans Loans secured by real estate: Land Development and Construction Satisfactory - Categories 1-4 $ 21,605 $ 4,646 $ 1,290 $ 12,469 $ 881 $ 232 $ 19,083 $ 60,206 Special Mention - Category 5 & 6 - 356 679 - - - - 1,035 Substandard - Category 7 - 513 - - - - - 513 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Land Development and Construction 21,605 5,515 1,969 12,469 881 232 19,083 61,754 Farmland Satisfactory - Categories 1-4 1,345 1,590 1,273 1,906 3,042 570 899 10,625 Special Mention - Category 5 & 6 - - 84 - 132 38 - 254 Substandard - Category 7 - 33 10 6 19 47 - 115 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Farmland 1,345 1,623 1,367 1,912 3,193 655 899 10,994 1-4 Family Mortgages Satisfactory - Categories 1-4 8,940 19,417 11,949 11,415 9,723 7,040 19,995 88,479 Special Mention - Category 5 & 6 552 189 95 485 299 785 201 2,606 Substandard - Category 7 137 35 274 267 82 2,057 549 3,401 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - 81 - - 81 Total 1-4 Family Mortgages 9,629 19,641 12,318 12,167 10,185 9,882 20,745 94,567 Commercial Real Estate Satisfactory - Categories 1-4 40,527 51,865 58,617 53,373 25,109 32,905 17,180 279,576 Special Mention - Category 5 & 6 9,262 2,439 2,227 931 4,566 297 4,131 23,853 Substandard - Category 7 - 67 3,654 - 265 15,208 - 19,194 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Commercial Real Estate 49,789 54,371 64,498 54,304 29,940 48,410 21,311 322,623 Total Real Estate Loans 82,368 81,150 80,152 80,852 44,199 59,179 62,038 489,938 Business Loans: Commercial and Industrial Loans Satisfactory - Categories 1-4 9,013 21,619 4,729 14,344 6,263 10,431 8,839 75,238 Special Mention - Category 5 & 6 - 121 - 277 4 453 2,151 3,006 Substandard - Category 7 - 17 92 - 38 731 835 1,713 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Commercial & Industrial 9,013 21,757 4,821 14,621 6,305 11,615 11,825 79,957 Farm Production and Other Farm Loans Satisfactory - Categories 1-4 - 185 - - - 90 78 353 Special Mention - Category 5 & 6 - - - - - - - - Substandard - Category 7 - - 5 - - 1 - 6 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Farm Production & Other Farm - 185 5 - - 91 78 359 Total Business Loans 9,013 21,942 4,826 14,621 6,305 11,706 11,903 80,316 Consumer Loans: Satisfactory - Categories 1-4 5,936 3,930 1,656 733 881 207 257 13,600 Special Mention - Category 5 & 6 - - - - - - - - Substandard - Category 7 307 36 29 1 - - - 373 Doubtful - Category 8 - - - - - - - - Loss 9 - - - - - - - - Total Consumer Loans 6,243 3,966 1,685 734 881 207 257 13,973 Credit Cards Performing - - - - - - 3,001 3,001 Nonperforming - - - - - - 10 10 Total Credit Card - - - - - - 3,011 3,011 Gross LHFI $ 97,624 $ 107,058 $ 86,663 $ 96,207 $ 51,385 $ 71,092 $ 77,209 $ 587,238 Less ACL (6,390 ) Net LHFI $ 580,848 Special Satisfactory Mention Substandard Doubtful Loss Total 1,2,3,4 5,6 7 8 9 Loans Real Estate: Land Development and Construction $ 50,015 $ 2,427 $ 289 $ - $ - $ 52,731 Farmland 10,832 269 336 - - 11,437 1-4 Family Mortgages 85,861 1,816 4,471 - - 92,148 Commercial Real Estate 274,901 7,975 33,665 - - 316,541 Total Real Estate Loans 421,609 12,487 38,761 - - 472,857 Business Loans: Commercial and Industrial Loans 91,016 4,902 577 - 5 96,500 Farm Production and Other Farm Loans 491 - 13 - - 504 Total Business Loans 91,507 4,902 590 - 5 97,004 Consumer Loans: Other Consumer Loans 12,934 7 51 - - 12,992 Credit Cards 2,670 - 68 - - 2,738 Total Consumer Loans 15,604 7 119 - - 15,730 Total Loans $ 528,720 $ 17,396 $ 39,470 $ - $ 5 $ 585,591 |
Financial Assets Non Purchased Loans [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2023 December 31, 2022 Loans secured by real estate: Land Development and Construction $ 61,754 $ 52,731 Farmland 10,994 11,437 1-4 Family Mortgages 94,567 92,148 Commercial Real Estate 322,623 316,541 Total Real Estate Loans 489,938 472,857 Business Loans: Commercial and Industrial Loans 79,957 96,500 Farm Production and Other Farm Loans 359 504 Total Business Loans 80,316 97,004 Consumer Loans: Consumer Loans 13,973 12,992 Credit Cards 3,011 2,738 Total Consumer Loans 16,984 15,730 Gross LHFI 587,238 585,591 Less Allowance for credit losses (6,390 ) (5,264 ) Net LHFI $ 580,848 $ 580,327 |
Financial Assets Non Purchased Loans [Member] | |
Notes Tables | |
Financing Receivable, Past Due [Table Text Block] | September 30, 2023 30 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Loans Total Loans secured by real estate: Land Development and Construction $ - $ 248 $ 248 $ 61,506 $ 61,754 Farmland 17 26 43 10,951 10,994 1-4 Family Mortgages 1,451 285 1,736 92,831 94,567 Commercial Real Estate 650 67 717 321,906 322,623 Total Real Estate Loans 2,118 626 2,744 487,194 489,938 Business Loans: Commercial and Industrial Loans 81 266 347 79,610 79,957 Farm Production and Other Farm Loans 5 - 5 354 359 Total Business Loans 86 266 352 79,964 80,316 Consumer Loans: Consumer Loans 67 - 67 13,906 13,973 Credit Cards 53 10 63 2,948 3,011 Total Consumer Loans 120 10 130 16,854 16,984 Total $ 2,324 $ 902 $ 3,226 $ 584,012 $ 587,238 December 31, 2022 30 - 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Loans Total Loans secured by real estate: Land Development and Construction $ - $ 4 $ 4 $ 52,727 $ 52,731 Farmland 38 30 68 11,369 11,437 1-4 Family Mortgages 1,799 439 2,238 89,910 92,148 Commercial Real Estate 933 486 1,419 315,122 316,541 Total Real Estate Loans 2,770 959 3,729 469,128 472,857 Business Loans: Commercial and Industrial Loans 109 277 386 96,114 96,500 Farm Production and Other Farm Loans 4 - 4 500 504 Total Business Loans 113 277 390 96,614 97,004 Consumer Loans: Consumer Loans 66 23 89 12,903 12,992 Credit Cards 56 12 68 2,670 2,738 Total Consumer Loans 122 35 157 15,573 15,730 Total $ 3,005 $ 1,271 $ 4,276 $ 581,315 $ 585,591 |
Note 8 - ACL on LHFI (Tables)
Note 8 - ACL on LHFI (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Real Business Estate Loans Consumer Total Beginning Balance, January 1, 2023 $ 4,154 $ 713 $ 397 $ 5,264 FASB ASU 2016-13 adoption adjustment 665 56 (86 ) 635 PCL (46 ) 112 (19 ) 47 Chargeoffs 1 - 32 33 Recoveries 26 7 71 104 Net recoveries (25 ) (7 ) (39 ) (71 ) Ending Balance March 31, 2023 $ 4,798 $ 888 $ 331 $ 6,017 PCL 564 (222 ) 30 372 Chargeoffs 18 67 34 119 Recoveries 46 5 60 111 Net recoveries (28 ) 62 (26 ) 8 Ending Balance June 30, 2023 $ 5,334 $ 728 $ 335 $ 6,397 PCL 218 (127 ) 14 105 Chargeoffs 2 5 59 66 Recoveries 124 22 32 178 Net recoveries (122 ) (17 ) 27 (112 ) Ending Balance September 30, 2023 $ 5,430 $ 584 $ 376 $ 6,390 Period end allowance allocated to: Loans individually evaluated for impairment $ 158 $ - $ - $ 158 Loans collectively evaluated for impairment 5,272 584 376 6,232 Ending Balance, September 30, 2023 $ 5,430 $ 584 $ 376 $ 6,390 September 30, 2023 Loans individually evaluated for specific impairment $ 2,993 $ 1,424 $ - $ 4,417 Loans collectively evaluated for general impairment 486,945 78,892 16,984 582,821 $ 489,938 $ 80,316 $ 16,984 $ 587,238 Real Business Estate Loans Consumer Total Beginning Balance, January 1, 2022 $ 3,622 $ 645 $ 246 $ 4,513 PCL 170 57 (134 ) 93 Chargeoffs - 56 26 82 Recoveries 50 5 197 252 Net chargeoffs (recoveries) (50 ) 51 (171 ) (170 ) Ending Balance March 31, 2022 $ 3,842 $ 651 $ 283 $ 4,776 PCL 81 8 (33 ) 56 Chargeoffs 1 - 20 21 Recoveries 60 15 160 235 Net recoveries (59 ) (15 ) (140 ) (214 ) Ending Balance June 30, 2022 $ 3,982 $ 674 $ 390 $ 5,046 PCL (20 ) (27 ) (6 ) (53 ) Chargeoffs 6 5 11 22 Recoveries 23 6 68 97 Net recoveries (17 ) (1 ) (57 ) (75 ) Ending Balance September 30, 2022 $ 3,979 $ 648 $ 441 $ 5,068 Period end allowance allocated to: Loans individually evaluated for impairment $ - $ - $ - $ - Loans collectively evaluated for impairment 3,979 648 441 5,068 Ending Balance, September 30, 2022 $ 3,979 $ 648 $ 441 $ 5,068 September 30, 2022 Loans individually evaluated for specific impairment $ 1,286 $ 196 $ - $ 1,482 Loans collectively evaluated for general impairment 473,280 88,339 15,564 577,183 $ 474,566 $ 88,535 $ 15,564 $ 578,665 |
Financing Receivable, Allowance for Credit Loss, Net Charge-offs [Table Text Block] | Revolving Total Charge- 2023 2022 2021 2020 2019 Prior Loans Offs Gross Charge-Offs September 30, 2023 Loans secured by real estate: Commercial Real Estate $ - $ - $ - $ - $ 5 $ 16 $ - $ 21 Total Real Estate Loans - - - - 5 16 - 21 Business Loans Commercial and Industrial Loans 5 - - - - 67 - 72 Total Business Loans 5 - - - - 67 - 72 Total Consumer Loans 5 28 2 4 - - - 39 Total Credit Card - - - - - - 86 86 Net LHFI $ 10 $ 28 $ 2 $ 4 $ 5 $ 83 $ 86 $ 218 |
Off-Balance-Sheet Credit Exposure [Table Text Block] | For the Three Months For the Nine Months Ended September 30, Ended September 30, 2023 2023 ACL for off-balance sheet credit exposure: Beginning balance $ 681 $ - FASB ASU 2016-13 adoption adjustment - 677 PCL for off-balance sheet credit exposure 230 234 Ending Balance $ 911 $ 911 |
Note 9 - Derivative Instrumen_2
Note 9 - Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | Balance Sheet September 30,2023 December 31, 2022 Location Notional Amount Fair Value Notional Amount Fair Value Derivative Assets: Interest rate swaps Other Assets $ 66,600 $ 641 $ - $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Amount of Gain (Loss) Recognized in Income Income Statement Three Months Ended September 30, Nine Months Ended September 30, Location 2023 2022 2023 2022 Derivative assets: Interest rate swaps - investment securities Interest Income $ 106 $ - $ 106 $ - Derivative assets - hedged items: Interest rate swaps - investment securities Interest Income $ (106 ) $ - $ (106 ) $ - |
Note 10 - Secured Line of Cre_2
Note 10 - Secured Line of Credit (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | September 30, 2023 December 31, 2022 Funded balance $ 18,000 $ 18,000 Unfunded balance 2,000 2,000 Total credit facility $ 20,000 $ 20,000 |
Note 11 - Shareholders' Equity
Note 11 - Shareholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Accumulated Number Additional Other of Shares Common Paid-In Comprehensive Retained Issued Stock Capital (Loss) Income Earnings Total Balance, January 1, 2023 5,603,570 $ 1,122 $ 18,448 $ (83,070 ) $ 102,525 $ 39,025 FASB ASU 2016-13 adoption adjustment (984 ) (984 ) Net income - - - - 1,140 1,140 Dividends paid ($0.24 per share) - - - - (1,346 ) (1,346 ) Restricted stock granted 3,868 - - - - - Stock compensation expense - - 40 - - 40 Other comprehensive loss, net - - - 3,248 - 3,248 Balance, March 31, 2023 5,607,438 $ 1,122 $ 18,488 $ (79,822 ) $ 101,335 $ 41,123 Net income - - - - 300 300 Dividends paid ($0.16 per share) - - - - (898 ) (898 ) Restricted stock granted 9,000 1 (1 ) - - - Stock compensation expense - - 32 - - 32 Other comprehensive loss, net - - - (416 ) - (416 ) Balance, June 30, 2023 5,616,438 $ 1,123 $ 18,519 $ (80,238 ) $ 100,737 $ 40,141 Net income - - - - 1,207 1,207 Dividends paid ($0.16 per share) - - - - (899 ) (899 ) Stock compensation expense - - 35 - - 35 Other comprehensive income, net - - - (6,139 ) - (6,139 ) Balance, September 30, 2023 5,616,438 $ 1,123 $ 18,554 $ (86,377 ) $ 101,045 $ 34,345 Accumulated Number Additional Other of Shares Common Paid-In Comprehensive Retained Issued Stock Capital Income (Loss) Earnings Total Balance, January 1, 2022 5,595,320 $ 1,120 $ 18,293 $ (11,795 ) $ 98,282 $ 105,900 Net income - - - - 2,036 2,036 Dividends paid ($0.24 per share) - - - - (1,343 ) (1,343 ) Stock compensation expense - - 39 - - 39 Other comprehensive loss, net - - - (43,682 ) - (43,682 ) Balance, March 31, 2022 5,595,320 $ 1,120 $ 18,332 $ (55,477 ) $ 98,975 $ 62,950 Net income - - - - 2,541 2,541 Dividends paid ($0.24 per share) - - - - (1,345 ) (1,345 ) Restricted stock granted 8,250 1 (1 ) - - - Stock compensation expense - - 39 - - 39 Other comprehensive income, net - - - (38,259 ) - (38,259 ) Balance, June 30, 2022 5,603,570 1,121 18,370 (93,736 ) 100,171 25,926 Net income - - - - 2,580 2,580 Dividends paid ($0.24 per share) - - - - (1,345 ) (1,345 ) Stock compensation expense - - 39 - - 39 Other comprehensive loss, net - - - 5,437 - 5,437 Balance, September 30, 2022 5,603,570 $ 1,121 $ 18,409 $ (88,299 ) $ 101,406 $ 32,637 |
Note 12 - Fair Values of Fina_2
Note 12 - Fair Values of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Derivative instruments $ - $ 641 $ - $ 641 Securities available-for-sale Mortgage-backed securities - 85,949 - 85,949 State, county and municipal - 97,162 - 97,162 Other securities - 424 - 424 Total $ - $ 184,176 $ - $ 184,176 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Securities available-for-sale Mortgage-backed securities $ - $ 96,972 $ - $ 96,972 State, county and municipal - 103,913 - 103,913 Other securities - 437 - 437 Total $ - $ 201,322 $ - $ 201,322 |
Fair Value Measurements, Nonrecurring [Table Text Block] | September 30, 2023 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Loans individually evaluated for impairment $ - $ - $ 2,483 $ 2,483 Total $ - $ - $ 2,483 $ 2,483 December 31, 2022 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Totals Loans individually evaluated for impairment $ - $ - $ 2,074 $ 2,074 Total $ - $ - $ 2,074 $ 2,074 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Quoted Prices in Active Significant Markets for Other Significant Total Carrying Identical Observable Unobservable Fair September 30, 2023 Value Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 14,061 $ 14,061 $ - $ - $ 14,061 Interest bearing deposits with banks 130,320 130,320 - - 130,320 Securities held-to-maturity 392,133 - 338,863 - 338,863 Securities available-for-sale 183,535 - 183,535 - 183,535 Net LHFI 580,848 - - 546,924 546,924 Derivative instruments 641 - 641 - 641 Financial liabilities Deposits $ 1,194,697 $ 958,179 $ 212,108 $ - $ 1,170,287 Securities sold under agreement to repurchase 151,089 151,089 - - 151,089 Borrowings on secured line of credit 18,000 18,000 - - 18,000 Quoted Prices in Active Significant Markets for Other Significant Total Carrying Identical Observable Unobservable Fair December 31, 2022 Value Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 26,948 $ 26,948 $ - $ - $ 26,948 Interest bearing deposits with banks 1,646 1,646 - - 1,646 Securities held-to-maturity 406,590 - 375,292 - 375,292 Securities available-for-sale 201,322 - 201,322 - 201,322 Net LHFI 580,327 - - 541,173 541,173 Financial liabilities Deposits $ 1,126,402 $ 947,479 $ 178,902 $ - $ 1,126,381 Securities sold under agreement to repurchase 127,574 127,574 - - 127,574 Borrowings on secured line of credit 18,000 18,000 - - 18,000 |
Note 1 - Nature of Business a_3
Note 1 - Nature of Business and Summary of Significant Accounting Policies (Details Textual) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price (in dollars per share) | $ 2,038 | $ 1,981 |
Note 1 - Nature of Business a_4
Note 1 - Nature of Business and Summary of Significant Accounting Policies- Schedule of New Accounting Pronouncements (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |||
Less Allowance for credit losses | $ (6,390) | [1] | $ (6,397) | $ (6,017) | $ (5,264) | [1] | $ (5,068) | $ (5,046) | $ (4,776) | $ (4,513) | ||
Deferred tax assets, net | 31,417 | 29,574 | ||||||||||
ACL on off-balance sheet exposures | 911 | 681 | 0 | |||||||||
Retained earnings | $ 101,045 | 102,525 | ||||||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||||||
ACL on off-balance sheet exposures | $ 0 | 677 | ||||||||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||||||||
Less Allowance for credit losses | $ (634) | $ (635) | ||||||||||
Deferred tax assets, net | 327 | |||||||||||
ACL on off-balance sheet exposures | [2] | 677 | ||||||||||
Retained earnings | (984) | |||||||||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||||||||||||
Less Allowance for credit losses | (5,898) | |||||||||||
Deferred tax assets, net | 29,901 | |||||||||||
ACL on off-balance sheet exposures | 677 | |||||||||||
Retained earnings | $ 101,541 | |||||||||||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation.[2]The allowance for credit losses on unfunded loan commitments is included in "Other liabilities" in the accompanying consolidated balance sheet. The related provision for credit losses on unfunded loan commitments is included in "Provision for credit losses" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2023. |
Note 2 - Commitments and Cont_2
Note 2 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Unused Commitments to Extend Credit | $ 80,885 | $ 75,602 |
Letters of Credit Outstanding, Amount | $ 3,476 | $ 5,438 |
Note 3 - Net Income Per Share -
Note 3 - Net Income Per Share - Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Basic weighted average shares outstanding (in shares) | 5,603,570 | 5,595,320 | 5,600,082 | 5,591,771 | ||||
Dilutive effect of stock based compensation (in shares) | 0 | 0 | 8 | 0 | ||||
Diluted weighted average shares outstanding (in shares) | 5,603,570 | 5,595,320 | 5,600,090 | 5,591,771 | ||||
Net income | $ 1,207 | $ 300 | $ 1,140 | $ 2,580 | $ 2,541 | $ 2,036 | $ 2,647 | $ 7,157 |
-Basic (in dollars per share) | $ 0.22 | $ 0.46 | $ 0.47 | $ 1.28 | ||||
-Diluted (in dollars per share) | $ 0.22 | $ 0.46 | $ 0.47 | $ 1.28 |
Note 4 - Equity Compensation _2
Note 4 - Equity Compensation Plans (Details Textual) - Incentive Compensation Plan 2013 [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 9,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year |
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants in Period, Grant Date Fair Value | $ | $ 112 |
Restricted Stock [Member] | Chief Executive Officer [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 3,868 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years |
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants in Period, Grant Date Fair Value | $ | $ 60 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income Tax Expense (Benefit) | $ 248 | $ 463 | $ 323 | $ 1,350 |
Effective Income Tax Rate Reconciliation, Percent | 17.04% | 15.22% | 10.88% | 15.87% |
Note 6 - Securities Available_3
Note 6 - Securities Available-for-Sale and Held-to-Maturity (Details Textual) - USD ($) $ / shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Jan. 01, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Dec. 31, 2022 | |
Debt Securities Reclassification Adjustment From Available For Sale To Held To Maturity Securities | $ 413,921,000 | |||
Debt Securities Available for sale Unrealized Holding Loss On Transferred Securities Before Tax | 71,319,000 | |||
Debt Securities Available for sale Unrealized Holding Loss On Transferred Securities Net Of Tax | $ 53,525,000 | |||
Debt Securities, Available-for-Sale, Gain (Loss) | $ 0 | |||
Debt Securities Available For Sale Unrealized Gain Loss On Transfer Before Tax | 66,167 | $ 69,612,000 | ||
Debt Securities Available For Sale Unrealized Gain Loss On Transfer Net Of Tax | 49,659 | 52,244,000 | ||
Debt Securities, Expected Credit Loss | $ 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 392,133,000 | 406,590,000 | ||
Debt Securities Held To Maturity 30 Days Or More Past Due | 0 | |||
Debt Securities, Held-to-Maturity, Nonaccrual | 0 | |||
State, County and Municipal [Member] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | $ 92,907,000 | 92,840,000 | ||
Asset Not Pledged as Collateral [Member] | ||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 392,133 | |||
Asset Pledged as Collateral [Member] | ||||
Debt Securities | $ 416,098,000 | $ 462,954,000 |
Note 6 - Securities Available_4
Note 6 - Securities Available-for-Sale and Held-to-Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Available for sale, amortized cost | $ 233,179 | $ 242,461 |
Available for sale, gross unrealized gains | 0 | 0 |
Available for sale, gross unrealized losses | 49,644 | 41,139 |
Available for sale, fair value | 183,535 | 201,322 |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 392,133 | 406,590 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | 53,270 | 31,298 |
Held to maturity, fair value | 338,863 | 375,292 |
Held to maturity, amortized cost | 392,133 | 406,590 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | 53,270 | 31,298 |
Mortgage backed securities | 338,863 | 375,292 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale, amortized cost | 99,084 | 107,055 |
Available for sale, gross unrealized gains | 0 | 0 |
Available for sale, gross unrealized losses | 13,135 | 10,083 |
Available for sale, fair value | 85,949 | 96,972 |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 295,177 | 309,748 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | 40,991 | 24,654 |
Held to maturity, fair value | 254,186 | 285,094 |
Held to maturity, amortized cost | 295,177 | 309,748 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | 40,991 | 24,654 |
Mortgage backed securities | 254,186 | 285,094 |
State, County and Municipal [Member] | ||
Available for sale, amortized cost | 133,595 | 134,906 |
Available for sale, gross unrealized gains | 0 | 0 |
Available for sale, gross unrealized losses | 36,433 | 30,993 |
Available for sale, fair value | 97,162 | 103,913 |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 92,907 | 92,840 |
Held to maturity, gross unrealized gains | 0 | |
Held to maturity, gross unrealized losses | 6,277 | |
Held to maturity, fair value | 86,563 | |
Held to maturity, amortized cost | 92,907 | 92,840 |
Held to maturity, gross unrealized gains | 0 | |
Held to maturity, gross unrealized losses | 6,277 | |
Mortgage backed securities | 86,563 | |
Other Debt Obligations [Member] | ||
Available for sale, amortized cost | 500 | 500 |
Available for sale, gross unrealized gains | 0 | 0 |
Available for sale, gross unrealized losses | 76 | 63 |
Available for sale, fair value | 424 | 437 |
US Government Agencies Debt Securities [Member] | ||
Available for sale, amortized cost | 4,049 | |
Available for sale, gross unrealized gains | 0 | |
Available for sale, gross unrealized losses | 616 | |
Available for sale, fair value | 3,433 | |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 4,002 | |
Held to maturity, gross unrealized gains | 0 | |
Held to maturity, gross unrealized losses | 367 | |
Held to maturity, fair value | 3,635 | |
Held to maturity, amortized cost | 4,002 | |
Held to maturity, gross unrealized gains | 0 | |
Held to maturity, gross unrealized losses | 367 | |
Mortgage backed securities | $ 3,635 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 92,907 | |
Held to maturity, gross unrealized gains | 0 | |
Held to maturity, gross unrealized losses | 11,663 | |
Held to maturity, fair value | 81,244 | |
Held to maturity, amortized cost | 92,907 | |
Held to maturity, gross unrealized gains | 0 | |
Held to maturity, gross unrealized losses | 11,663 | |
Mortgage backed securities | $ 81,244 |
Note 6 - Securities Available_5
Note 6 - Securities Available-for-Sale and Held-to-Maturity - Credit Rating (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Held to maturity, amortized cost | $ 392,133 | $ 406,590 | |
State, County and Municipal [Member] | |||
Held to maturity, amortized cost | 92,907 | 92,840 | |
State, County and Municipal [Member] | Moody's, Aaa Rating [Member] | |||
Held to maturity, amortized cost | 16,831 | 18,096 | |
State, County and Municipal [Member] | Moody's, Aa 1 To A3 Rating [Member] | |||
Held to maturity, amortized cost | 41,478 | 40,174 | |
State, County and Municipal [Member] | Not Rated [Member] | |||
Held to maturity, amortized cost | [1] | $ 34,598 | $ 34,570 |
[1]Not rated securities were municipals that did not have a current Moody’s rating as of the dates reported above. However, all not rated securities are investment grade and are rated between AAA and AA- by Standard and Poor’s rating agency. |
Note 6 - Securities Available_6
Note 6 - Securities Available-for-Sale and Held-to-Maturity - Summary of Unrealized Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Available for sale securities, unrealized loss position, less than 12 months, fair value | $ 12,708 | $ 115,852 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 647 | 12,865 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 170,827 | 85,470 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized losses | 48,997 | 28,274 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 183,535 | 201,322 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized loses | 49,644 | 41,139 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 647 | 12,865 |
Held to maturity, less than 12 months fair value | 0 | |
Held to maturity, more than 12 months fair value | 338,863 | |
Held to maturity, more than 12 months, unrealized losses | 53,270 | |
Held to maturity, fair value | 338,863 | |
Held to maturity, unrealized losses | 53,270 | |
Held to maturity securities, unrealized loss position, less than 12 months, unrealized losses | 0 | |
Held to maturity, less than 12 months fair value | 32,941 | |
Held to maturity, less than 12 months unrealized losses | 2,113 | |
Held to maturity, more than 12 months fair value | 342,351 | |
Held to maturity, more than 12 months, unrealized losses | 29,185 | |
Held to maturity, fair value | 375,292 | |
Held to maturity, unrealized losses | 31,298 | |
Held to maturity, less than 12 months unrealized losses | 2,113 | |
Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale securities, unrealized loss position, less than 12 months, fair value | 5,839 | 70,652 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 243 | 3,838 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 80,110 | 26,320 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized losses | 12,892 | 6,245 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 85,949 | 96,972 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized loses | 13,135 | 10,083 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 243 | 3,838 |
Held to maturity, less than 12 months fair value | 0 | |
Held to maturity, more than 12 months fair value | 254,186 | |
Held to maturity, more than 12 months, unrealized losses | 40,991 | |
Held to maturity, fair value | 254,186 | |
Held to maturity, unrealized losses | 40,991 | |
Held to maturity securities, unrealized loss position, less than 12 months, unrealized losses | 0 | |
Held to maturity, less than 12 months fair value | 17,882 | |
Held to maturity, less than 12 months unrealized losses | 1,332 | |
Held to maturity, more than 12 months fair value | 267,212 | |
Held to maturity, more than 12 months, unrealized losses | 23,322 | |
Held to maturity, fair value | 285,094 | |
Held to maturity, unrealized losses | 24,654 | |
Held to maturity, less than 12 months unrealized losses | 1,332 | |
US Government Agencies Debt Securities [Member] | ||
Held to maturity, less than 12 months fair value | 0 | |
Held to maturity, more than 12 months fair value | 3,433 | |
Held to maturity, more than 12 months, unrealized losses | 616 | |
Held to maturity, fair value | 3,433 | |
Held to maturity, unrealized losses | 616 | |
Held to maturity securities, unrealized loss position, less than 12 months, unrealized losses | 0 | |
Held to maturity, less than 12 months fair value | 0 | |
Held to maturity, less than 12 months unrealized losses | 0 | |
Held to maturity, more than 12 months fair value | 3,635 | |
Held to maturity, more than 12 months, unrealized losses | 367 | |
Held to maturity, fair value | 3,635 | |
Held to maturity, unrealized losses | 367 | |
Held to maturity, less than 12 months unrealized losses | 0 | |
State, County and Municipal [Member] | ||
Available for sale securities, unrealized loss position, less than 12 months, fair value | 6,869 | 45,200 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 404 | 9,027 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 90,293 | 58,713 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized losses | 36,029 | 21,966 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 97,162 | 103,913 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized loses | 36,433 | 30,993 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 404 | 9,027 |
Held to maturity, less than 12 months fair value | 0 | |
Held to maturity, more than 12 months fair value | 81,244 | |
Held to maturity, more than 12 months, unrealized losses | 11,663 | |
Held to maturity, fair value | 81,244 | |
Held to maturity, unrealized losses | 11,663 | |
Held to maturity securities, unrealized loss position, less than 12 months, unrealized losses | 0 | |
Other Securities [Member] | ||
Available for sale securities, unrealized loss position, less than 12 months, fair value | 0 | 0 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | 0 | 0 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 424 | 437 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized losses | 76 | 63 |
Available for sale securities, unrealized loss position, more than 12 months, fair value | 424 | 437 |
Available for sale securities, unrealized loss position, more than 12 months, unrealized loses | 76 | 63 |
Available for sale securities, unrealized loss position, less than 12 months, unrealized losses | $ 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held to maturity, less than 12 months fair value | 15,059 | |
Held to maturity, less than 12 months unrealized losses | 781 | |
Held to maturity, more than 12 months fair value | 71,504 | |
Held to maturity, more than 12 months, unrealized losses | 5,496 | |
Held to maturity, fair value | 86,563 | |
Held to maturity, unrealized losses | 6,277 | |
Held to maturity, less than 12 months unrealized losses | $ 781 |
Note 6 - Securities Available_7
Note 6 - Securities Available-for-Sale and Held-to-Maturity- Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Due in one year or less, amortized cost | $ 500 | |
Due in one year or less, estimated fair value | 424 | |
Due in one year or less, amortized cost | 0 | |
Due in one year or less, fair value | 0 | |
Due after one year through five years, amortized cost | 2,930 | |
Due after one year through five years, estimated fair value | 2,802 | |
Due after one year through five years, amortized cost | 0 | |
Due after one year through five years, fair value | 0 | |
Due after five years through ten years, amortized cost | 5,514 | |
Due after five years through ten years, estimated fair value | 4,855 | |
Due after five years through ten years, amortized cost | 0 | |
Due after five years through ten years, fair value | 0 | |
Due after ten years, amortized cost | 125,151 | |
Due after ten years | 89,505 | |
Due after ten years, amortized cost | 96,956 | |
Due after ten years, fair value | 84,677 | |
Available for sale, amortized cost | 233,179 | $ 242,461 |
Investment securities available-for-sale, at fair value | 183,535 | 201,322 |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 392,133 | 406,590 |
Mortgage backed securities | 338,863 | $ 375,292 |
Residential Mortgage-Backed Securities [Member] | ||
Available for sale, amortized cost | 86,538 | |
Investment securities available-for-sale, at fair value | 73,922 | |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 237,052 | |
Mortgage backed securities | 205,398 | |
Commercial Mortgage-Backed Securities [Member] | ||
Available for sale, amortized cost | 12,546 | |
Investment securities available-for-sale, at fair value | 12,027 | |
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 58,125 | |
Mortgage backed securities | $ 48,788 |
Note 7- LHFI and ACL (Details T
Note 7- LHFI and ACL (Details Textual) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Financing Receivable, Modified, Accumulated | $ 2,641 |
Financing Receivable, Modified, Unused Commitments | 0 |
Financing Receivable, Modified, Allowance for Credit Loss | 159 |
Financing Receivable, Modified, Commitment to Lend | 0 |
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 |
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | |
Mortgage Loans in Process of Foreclosure, Amount | $ 0 |
Note 7- LHFI and ACL- Compositi
Note 7- LHFI and ACL- Composition of Net Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||
Financing Receivable, before Allowance for Credit Loss | $ 587,238 | [1] | $ 585,591 | [1] | $ 578,665 | |||||
Less Allowance for credit losses | (6,390) | [1] | $ (6,397) | $ (6,017) | (5,264) | [1] | (5,068) | $ (5,046) | $ (4,776) | $ (4,513) |
Net LHFI | 580,848 | 580,327 | ||||||||
Financial Assets Non Purchased Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 587,238 | 585,591 | ||||||||
Less Allowance for credit losses | (6,390) | |||||||||
Net LHFI | 580,848 | |||||||||
Financial Assets Non Purchased Loans [Member] | Credit Card Receivable [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 3,011 | |||||||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 489,938 | 474,566 | ||||||||
Less Allowance for credit losses | (5,430) | (5,334) | (4,798) | (4,154) | (3,979) | (3,982) | (3,842) | (3,622) | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 489,938 | 472,857 | ||||||||
Commercial Real Estate Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | Land Development And Construction Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 61,754 | 52,731 | ||||||||
Commercial Real Estate Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | Farmland Loan [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 10,994 | 11,437 | ||||||||
Commercial Real Estate Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | Family Mortgages 1-4 [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 94,567 | 92,148 | ||||||||
Commercial Real Estate Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | Commercial Real Estate [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 322,623 | 316,541 | ||||||||
Business Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 97,004 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 96,500 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 504 | |||||||||
Business Loans [Member] | Financial Assets Non Purchased Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 80,316 | 97,004 | ||||||||
Business Loans [Member] | Financial Assets Non Purchased Loans [Member] | Farmland Loan [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 359 | 504 | ||||||||
Business Loans [Member] | Financial Assets Non Purchased Loans [Member] | Commercial and Industrial Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 79,957 | 96,500 | ||||||||
Business Loans [Member] | Financial Assets Non Purchased Loans [Member] | Farm Production And Other Farm Loans Member | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 359 | 504 | ||||||||
Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 16,984 | 15,730 | 15,564 | |||||||
Less Allowance for credit losses | (376) | $ (335) | $ (331) | (397) | $ (441) | $ (390) | $ (283) | $ (246) | ||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 12,992 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 2,738 | |||||||||
Consumer Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 16,984 | 15,730 | ||||||||
Consumer Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | Other Consumer Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 13,973 | 12,992 | ||||||||
Consumer Portfolio Segment [Member] | Financial Assets Non Purchased Loans [Member] | Credit Card Receivable [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | $ 3,011 | $ 2,738 | ||||||||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Note 7 - LHFI and ACL - Nonaccr
Note 7 - LHFI and ACL - Nonaccrual and Past Due (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Nonaccrual, no allowance | $ 475,000 | $ 2,988,000 |
Nonaccrual | 3,009,000 | 111,000 |
Loans past due 90 days or more | 10,000 | |
Real Estate Segment [Member] | ||
Nonaccrual, no allowance | 351,000 | 2,683,000 |
Nonaccrual | 2,663 | 99,000 |
Loans past due 90 days or more | 0 | |
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | ||
Nonaccrual, no allowance | 248,000 | 0 |
Nonaccrual | 248,000 | 4,000 |
Loans past due 90 days or more | 0 | |
Real Estate Segment [Member] | Farmland Loan [Member] | ||
Nonaccrual, no allowance | 26,000 | 117,000 |
Nonaccrual | 104,000 | 0 |
Loans past due 90 days or more | 0 | |
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | ||
Nonaccrual, no allowance | 77,000 | 1,720,000 |
Nonaccrual | 1,803,000 | 0 |
Loans past due 90 days or more | 0 | |
Real Estate Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual, no allowance | 0 | 846,000 |
Nonaccrual | 508,000 | 95,000 |
Loans past due 90 days or more | 0 | |
Business Loans [Member] | ||
Nonaccrual, no allowance | 124,000 | 281,000 |
Nonaccrual | 301,000 | 0 |
Loans past due 90 days or more | 0 | |
Business Loans [Member] | Commercial and Industrial Loans [Member] | ||
Nonaccrual, no allowance | 124,000 | 281,000 |
Nonaccrual | 301,000 | 0 |
Loans past due 90 days or more | 0 | |
Business Loans [Member] | Farm Production And Other Farm Loans Member | ||
Nonaccrual, no allowance | 0 | 0 |
Nonaccrual | 0 | 0 |
Loans past due 90 days or more | 0 | |
Consumer Portfolio Segment [Member] | ||
Nonaccrual, no allowance | 0 | 24,000 |
Nonaccrual | 45,000 | 12,000 |
Loans past due 90 days or more | 10,000 | |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Nonaccrual, no allowance | 0 | 24,000 |
Nonaccrual | 45,000 | 0 |
Loans past due 90 days or more | 0 | |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Nonaccrual, no allowance | 0 | 0 |
Nonaccrual | 0 | $ 12,000 |
Loans past due 90 days or more | $ 10,000 |
Note 7 - LHFI and ACL - Aging A
Note 7 - LHFI and ACL - Aging Analysis of Past Due Loans, Segregated by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | ||
Financing Receivable, before Allowance for Credit Loss | $ 587,238 | [1] | $ 585,591 | [1] | $ 578,665 |
Real Estate Segment [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 472,857 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 52,731 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 11,437 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 92,148 | ||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 316,541 | ||||
Business Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 97,004 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 96,500 | ||||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 16,984 | 15,730 | $ 15,564 | ||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 12,992 | ||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,738 | ||||
Financial Assets Non Purchased Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 587,238 | 585,591 | |||
Financial Assets Non Purchased Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,324 | 3,005 | |||
Financial Assets Non Purchased Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 902 | 1,271 | |||
Financial Assets Non Purchased Loans [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 3,226 | 4,276 | |||
Financial Assets Non Purchased Loans [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 584,012 | 581,315 | |||
Financial Assets Non Purchased Loans [Member] | Credit Card Receivable [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 3,011 | ||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 489,938 | 472,857 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,118 | 2,770 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 626 | 959 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,744 | 3,729 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 487,194 | 469,128 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 61,754 | 52,731 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 248 | 4 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 248 | 4 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 61,506 | 52,727 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 10,994 | 11,437 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 17 | 38 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 26 | 30 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 43 | 68 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 10,951 | 11,369 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 94,567 | 92,148 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,451 | 1,799 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 285 | 439 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,736 | 2,238 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 92,831 | 89,910 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 322,623 | 316,541 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 650 | 933 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 67 | 486 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 717 | 1,419 | |||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 321,906 | 315,122 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 80,316 | 97,004 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 86 | 113 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 266 | 277 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 352 | 390 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 79,964 | 96,614 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farmland Loan [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 359 | 504 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farmland Loan [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 5 | 4 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farmland Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 0 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farmland Loan [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 5 | 4 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farmland Loan [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 354 | 500 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 79,957 | 96,500 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 81 | 109 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 266 | 277 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 347 | 386 | |||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 79,610 | 96,114 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 16,984 | 15,730 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 120 | 122 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 10 | 35 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 130 | 157 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 16,854 | 15,573 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 13,973 | 12,992 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 67 | 66 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | 23 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 67 | 89 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 13,906 | 12,903 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 3,011 | 2,738 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 53 | 56 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 10 | 12 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 63 | 68 | |||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial Asset, Not Past Due [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | $ 2,948 | $ 2,670 | |||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Note 7 - LHFI and ACL - Impaire
Note 7 - LHFI and ACL - Impaired Loans (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Unpaid Principal Balance | $ 3,547 |
Investment with no allowance | 1,211 |
Recorded investment with allowance | 2,066 |
Recorded Investment | 3,277 |
Related allowance | 116 |
Average recorded investment | 2,807 |
Real Estate Segment [Member] | |
Unpaid Principal Balance | 3,243 |
Investment with no allowance | 1,015 |
Recorded investment with allowance | 2,066 |
Recorded Investment | 3,081 |
Related allowance | 116 |
Average recorded investment | 2,593 |
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | |
Unpaid Principal Balance | 0 |
Investment with no allowance | 0 |
Recorded investment with allowance | 0 |
Recorded Investment | 0 |
Related allowance | 0 |
Average recorded investment | 86 |
Real Estate Segment [Member] | Farmland Loan [Member] | |
Unpaid Principal Balance | 30 |
Investment with no allowance | 30 |
Recorded investment with allowance | 0 |
Recorded Investment | 30 |
Related allowance | 0 |
Average recorded investment | 32 |
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | |
Unpaid Principal Balance | 190 |
Investment with no allowance | 190 |
Recorded investment with allowance | 0 |
Recorded Investment | 190 |
Related allowance | 0 |
Average recorded investment | 479 |
Real Estate Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | |
Unpaid Principal Balance | 3,023 |
Investment with no allowance | 795 |
Recorded investment with allowance | 2,066 |
Recorded Investment | 2,861 |
Related allowance | 116 |
Average recorded investment | 1,996 |
Business Loans [Member] | |
Unpaid Principal Balance | 304 |
Investment with no allowance | 196 |
Recorded investment with allowance | 0 |
Recorded Investment | 196 |
Related allowance | 0 |
Average recorded investment | 214 |
Business Loans [Member] | Commercial and Industrial Loans [Member] | |
Unpaid Principal Balance | 304 |
Investment with no allowance | 196 |
Recorded investment with allowance | 0 |
Recorded Investment | 196 |
Related allowance | 0 |
Average recorded investment | $ 214 |
Note 7 - LHFI and ACL - Collate
Note 7 - LHFI and ACL - Collateral-dependent Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | ||
Financing Receivable, before Allowance for Credit Loss | $ 587,238 | [1] | $ 585,591 | [1] | $ 578,665 |
Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,300 | ||||
Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 92 | ||||
Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,992 | ||||
Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 32 | ||||
Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 4,416 | ||||
Real Estate Segment [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 472,857 | ||||
Real Estate Segment [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,992 | ||||
Real Estate Segment [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,992 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 52,731 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 248 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 248 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 11,437 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 26 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Farmland Loan [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 26 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 92,148 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 300 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 300 | ||||
Real Estate Segment [Member] | Commercial and Industrial Loans [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Commercial and Industrial Loans [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Commercial and Industrial Loans [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,418 | ||||
Real Estate Segment [Member] | Commercial and Industrial Loans [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Real Estate Segment [Member] | Commercial and Industrial Loans [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 2,418 | ||||
Business Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 97,004 | ||||
Business Loans [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,300 | ||||
Business Loans [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 92 | ||||
Business Loans [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Business Loans [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 32 | ||||
Business Loans [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,424 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 96,500 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,300 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 92 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 32 | ||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 1,424 | ||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | |||||
Financing Receivable, before Allowance for Credit Loss | $ 504 | ||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Bonds [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Inventory [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Real Estate [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Collateral Receivables [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | 0 | ||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Collateral Pledged [Member] | |||||
Financing Receivable, before Allowance for Credit Loss | $ 0 | ||||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Note 7 - LHFI and ACL - Risk of
Note 7 - LHFI and ACL - Risk of Loans (Details) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||
Loans held for investment (LHFI) (1) | $ 587,238,000 | [1] | $ 585,591,000 | [1] | $ 578,665,000 | |||||
Less Allowance for credit losses | (6,390,000) | [1] | $ (6,397,000) | $ (6,017,000) | (5,264,000) | [1] | (5,068,000) | $ (5,046,000) | $ (4,776,000) | $ (4,513,000) |
Net LHFI | 580,848,000 | 580,327,000 | ||||||||
Financing Receivable, before Allowance for Credit Loss | 587,238,000 | [1] | 585,591,000 | [1] | 578,665,000 | |||||
Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 528,720,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 528,720,000 | |||||||||
Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 17,396,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 17,396,000 | |||||||||
Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 39,470,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 39,470,000 | |||||||||
Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 5,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 5,000 | |||||||||
Real Estate Segment [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 472,857,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 472,857,000 | |||||||||
Real Estate Segment [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 421,609,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 421,609,000 | |||||||||
Real Estate Segment [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 12,487,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 12,487,000 | |||||||||
Real Estate Segment [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 38,761,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 38,761,000 | |||||||||
Real Estate Segment [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 52,731,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 52,731,000 | |||||||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 50,015,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 50,015,000 | |||||||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 2,427,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 2,427,000 | |||||||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 289,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 289,000 | |||||||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Farmland Loan [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 11,437,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 11,437,000 | |||||||||
Real Estate Segment [Member] | Farmland Loan [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 10,832,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 10,832,000 | |||||||||
Real Estate Segment [Member] | Farmland Loan [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 269,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 269,000 | |||||||||
Real Estate Segment [Member] | Farmland Loan [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 336,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 336,000 | |||||||||
Real Estate Segment [Member] | Farmland Loan [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Farmland Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 92,148,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 92,148,000 | |||||||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 85,861,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 85,861,000 | |||||||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 1,816,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 1,816,000 | |||||||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 4,471,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 4,471,000 | |||||||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 316,541,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 316,541,000 | |||||||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 274,901,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 274,901,000 | |||||||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 7,975,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 7,975,000 | |||||||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 33,665,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 33,665,000 | |||||||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Real Estate Segment [Member] | Commercial Real Estate [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Business Loans [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 97,004,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 97,004,000 | |||||||||
Business Loans [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 91,507,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 91,507,000 | |||||||||
Business Loans [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 4,902,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 4,902,000 | |||||||||
Business Loans [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 590,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 590,000 | |||||||||
Business Loans [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Business Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 5,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 5,000 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 96,500,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 96,500,000 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 91,016,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 91,016,000 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 4,902,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 4,902,000 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 577,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 577,000 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 5,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 5,000 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | ||||||||||
Loans held for investment (LHFI) (1) | 504,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 504,000 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 491,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 491,000 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 13,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 13,000 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Business Loans [Member] | Farm Production And Other Farm Loans Member | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 16,984,000 | 15,730,000 | 15,564,000 | |||||||
Less Allowance for credit losses | (376,000) | $ (335,000) | $ (331,000) | (397,000) | (441,000) | $ (390,000) | $ (283,000) | $ (246,000) | ||
Financing Receivable, before Allowance for Credit Loss | 16,984,000 | 15,730,000 | $ 15,564,000 | |||||||
Consumer Portfolio Segment [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 15,604,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 15,604,000 | |||||||||
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 7,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 7,000 | |||||||||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 119,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 119,000 | |||||||||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 12,992,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 12,992,000 | |||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 12,934,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 12,934,000 | |||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 7,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 7,000 | |||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 51,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 51,000 | |||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 2,738,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 2,738,000 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Pass [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 2,670,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 2,670,000 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Special Mention [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Substandard [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 68,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 68,000 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Doubtful [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | ||||||||||
Loans originated in current year | 97,624,000 | |||||||||
Loans originated before latest fiscal year | 107,058,000 | |||||||||
Loans originated two years before latest fiscal year | 86,663,000 | |||||||||
Loans originated three years before latest fiscal year | 96,207,000 | |||||||||
Loans originated four years before latest fiscal year | 51,385,000 | |||||||||
Loans originated five or more years before latest fiscal year | 71,092,000 | |||||||||
Loans originated, revolving loans | 77,209,000 | |||||||||
Loans held for investment (LHFI) (1) | 587,238,000 | 585,591,000 | ||||||||
Loans originated in current year | 97,624,000 | |||||||||
Loans originated two years before latest fiscal year | 86,663,000 | |||||||||
Less Allowance for credit losses | (6,390,000) | |||||||||
Net LHFI | 580,848,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 587,238,000 | 585,591,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Credit Card Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 3,011,000 | |||||||||
Loans held for investment (LHFI) (1) | 3,011,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 3,011,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | ||||||||||
Loans originated in current year | 82,368,000 | |||||||||
Loans originated before latest fiscal year | 81,150,000 | |||||||||
Loans originated two years before latest fiscal year | 80,152,000 | |||||||||
Loans originated three years before latest fiscal year | 80,852,000 | |||||||||
Loans originated four years before latest fiscal year | 44,199,000 | |||||||||
Loans originated five or more years before latest fiscal year | 59,179,000 | |||||||||
Loans originated, revolving loans | 62,038,000 | |||||||||
Loans held for investment (LHFI) (1) | 489,938,000 | 472,857,000 | ||||||||
Loans originated in current year | 82,368,000 | |||||||||
Loans originated two years before latest fiscal year | 80,152,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 489,938,000 | 472,857,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | ||||||||||
Loans originated in current year | 21,605,000 | |||||||||
Loans originated before latest fiscal year | 5,515,000 | |||||||||
Loans originated two years before latest fiscal year | 1,969,000 | |||||||||
Loans originated three years before latest fiscal year | 12,469,000 | |||||||||
Loans originated four years before latest fiscal year | 881,000 | |||||||||
Loans originated five or more years before latest fiscal year | 232,000 | |||||||||
Loans originated, revolving loans | 19,083,000 | |||||||||
Loans held for investment (LHFI) (1) | 61,754,000 | 52,731,000 | ||||||||
Loans originated in current year | 21,605,000 | |||||||||
Loans originated two years before latest fiscal year | 1,969,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 61,754,000 | 52,731,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 21,605,000 | |||||||||
Loans originated before latest fiscal year | 4,646,000 | |||||||||
Loans originated two years before latest fiscal year | 1,290,000 | |||||||||
Loans originated three years before latest fiscal year | 12,469,000 | |||||||||
Loans originated four years before latest fiscal year | 881,000 | |||||||||
Loans originated five or more years before latest fiscal year | 232,000 | |||||||||
Loans originated, revolving loans | 19,083,000 | |||||||||
Loans held for investment (LHFI) (1) | 60,206,000 | |||||||||
Loans originated in current year | 21,605,000 | |||||||||
Loans originated two years before latest fiscal year | 1,290,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 60,206,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Special Mention [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 356,000 | |||||||||
Loans originated two years before latest fiscal year | 679,000 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 1,035,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 679,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 1,035,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Substandard [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 513,000 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 513,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 513,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Land Development And Construction Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | ||||||||||
Loans originated in current year | 1,345,000 | |||||||||
Loans originated before latest fiscal year | 1,623,000 | |||||||||
Loans originated two years before latest fiscal year | 1,367,000 | |||||||||
Loans originated three years before latest fiscal year | 1,912,000 | |||||||||
Loans originated four years before latest fiscal year | 3,193,000 | |||||||||
Loans originated five or more years before latest fiscal year | 655,000 | |||||||||
Loans originated, revolving loans | 899,000 | |||||||||
Loans held for investment (LHFI) (1) | 10,994,000 | 11,437,000 | ||||||||
Loans originated in current year | 1,345,000 | |||||||||
Loans originated two years before latest fiscal year | 1,367,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 10,994,000 | 11,437,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 1,345,000 | |||||||||
Loans originated before latest fiscal year | 1,590,000 | |||||||||
Loans originated two years before latest fiscal year | 1,273,000 | |||||||||
Loans originated three years before latest fiscal year | 1,906,000 | |||||||||
Loans originated four years before latest fiscal year | 3,042,000 | |||||||||
Loans originated five or more years before latest fiscal year | 570,000 | |||||||||
Loans originated, revolving loans | 899,000 | |||||||||
Loans held for investment (LHFI) (1) | 10,625,000 | |||||||||
Loans originated in current year | 1,345,000 | |||||||||
Loans originated two years before latest fiscal year | 1,273,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 10,625,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Special Mention [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 84,000 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 132,000 | |||||||||
Loans originated five or more years before latest fiscal year | 38,000 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 254,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 84,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 254,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Substandard [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 33,000 | |||||||||
Loans originated two years before latest fiscal year | 10,000 | |||||||||
Loans originated three years before latest fiscal year | 6,000 | |||||||||
Loans originated four years before latest fiscal year | 19,000 | |||||||||
Loans originated five or more years before latest fiscal year | 47,000 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 115,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 10,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 115,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Farmland Loan [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | ||||||||||
Loans originated in current year | 9,629,000 | |||||||||
Loans originated before latest fiscal year | 19,641,000 | |||||||||
Loans originated two years before latest fiscal year | 12,318,000 | |||||||||
Loans originated three years before latest fiscal year | 12,167,000 | |||||||||
Loans originated four years before latest fiscal year | 10,185,000 | |||||||||
Loans originated five or more years before latest fiscal year | 9,882,000 | |||||||||
Loans originated, revolving loans | 20,745,000 | |||||||||
Loans held for investment (LHFI) (1) | 94,567,000 | 92,148,000 | ||||||||
Loans originated in current year | 9,629,000 | |||||||||
Loans originated two years before latest fiscal year | 12,318,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 94,567,000 | 92,148,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 8,940,000 | |||||||||
Loans originated before latest fiscal year | 19,417,000 | |||||||||
Loans originated two years before latest fiscal year | 11,949,000 | |||||||||
Loans originated three years before latest fiscal year | 11,415,000 | |||||||||
Loans originated four years before latest fiscal year | 9,723,000 | |||||||||
Loans originated five or more years before latest fiscal year | 7,040,000 | |||||||||
Loans originated, revolving loans | 19,995,000 | |||||||||
Loans held for investment (LHFI) (1) | 88,479,000 | |||||||||
Loans originated in current year | 8,940,000 | |||||||||
Loans originated two years before latest fiscal year | 11,949,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 88,479,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Special Mention [Member] | ||||||||||
Loans originated in current year | 552,000 | |||||||||
Loans originated before latest fiscal year | 189,000 | |||||||||
Loans originated two years before latest fiscal year | 95,000 | |||||||||
Loans originated three years before latest fiscal year | 485,000 | |||||||||
Loans originated four years before latest fiscal year | 299,000 | |||||||||
Loans originated five or more years before latest fiscal year | 785,000 | |||||||||
Loans originated, revolving loans | 201,000 | |||||||||
Loans held for investment (LHFI) (1) | 2,606,000 | |||||||||
Loans originated in current year | 552,000 | |||||||||
Loans originated two years before latest fiscal year | 95,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 2,606,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Substandard [Member] | ||||||||||
Loans originated in current year | 137,000 | |||||||||
Loans originated before latest fiscal year | 35,000 | |||||||||
Loans originated two years before latest fiscal year | 274,000 | |||||||||
Loans originated three years before latest fiscal year | 267,000 | |||||||||
Loans originated four years before latest fiscal year | 82,000 | |||||||||
Loans originated five or more years before latest fiscal year | 2,057,000 | |||||||||
Loans originated, revolving loans | 549,000 | |||||||||
Loans held for investment (LHFI) (1) | 3,401,000 | |||||||||
Loans originated in current year | 137,000 | |||||||||
Loans originated two years before latest fiscal year | 274,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 3,401,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Family Mortgages 1-4 [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 81,000 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 81,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 81,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | ||||||||||
Loans originated in current year | 49,789,000 | |||||||||
Loans originated before latest fiscal year | 54,371,000 | |||||||||
Loans originated two years before latest fiscal year | 64,498,000 | |||||||||
Loans originated three years before latest fiscal year | 54,304,000 | |||||||||
Loans originated four years before latest fiscal year | 29,940,000 | |||||||||
Loans originated five or more years before latest fiscal year | 48,410,000 | |||||||||
Loans originated, revolving loans | 21,311,000 | |||||||||
Loans held for investment (LHFI) (1) | 322,623,000 | 316,541,000 | ||||||||
Loans originated in current year | 49,789,000 | |||||||||
Loans originated two years before latest fiscal year | 64,498,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 322,623,000 | 316,541,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 40,527,000 | |||||||||
Loans originated before latest fiscal year | 51,865,000 | |||||||||
Loans originated two years before latest fiscal year | 58,617,000 | |||||||||
Loans originated three years before latest fiscal year | 53,373,000 | |||||||||
Loans originated four years before latest fiscal year | 25,109,000 | |||||||||
Loans originated five or more years before latest fiscal year | 32,905,000 | |||||||||
Loans originated, revolving loans | 17,180,000 | |||||||||
Loans held for investment (LHFI) (1) | 279,576,000 | |||||||||
Loans originated in current year | 40,527,000 | |||||||||
Loans originated two years before latest fiscal year | 58,617,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 279,576,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||||||||||
Loans originated in current year | 9,262,000 | |||||||||
Loans originated before latest fiscal year | 2,439,000 | |||||||||
Loans originated two years before latest fiscal year | 2,227,000 | |||||||||
Loans originated three years before latest fiscal year | 931,000 | |||||||||
Loans originated four years before latest fiscal year | 4,566,000 | |||||||||
Loans originated five or more years before latest fiscal year | 297,000 | |||||||||
Loans originated, revolving loans | 4,131,000 | |||||||||
Loans held for investment (LHFI) (1) | 23,853,000 | |||||||||
Loans originated in current year | 9,262,000 | |||||||||
Loans originated two years before latest fiscal year | 2,227,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 23,853,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 67,000 | |||||||||
Loans originated two years before latest fiscal year | 3,654,000 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 265,000 | |||||||||
Loans originated five or more years before latest fiscal year | 15,208,000 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 19,194,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 3,654,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 19,194,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Real Estate Segment [Member] | Commercial Real Estate [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | ||||||||||
Loans originated in current year | 9,013,000 | |||||||||
Loans originated before latest fiscal year | 21,942,000 | |||||||||
Loans originated two years before latest fiscal year | 4,826,000 | |||||||||
Loans originated three years before latest fiscal year | 14,621,000 | |||||||||
Loans originated four years before latest fiscal year | 6,305,000 | |||||||||
Loans originated five or more years before latest fiscal year | 11,706,000 | |||||||||
Loans originated, revolving loans | 11,903,000 | |||||||||
Loans held for investment (LHFI) (1) | 80,316,000 | 97,004,000 | ||||||||
Loans originated in current year | 9,013,000 | |||||||||
Loans originated two years before latest fiscal year | 4,826,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 80,316,000 | 97,004,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farmland Loan [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 359,000 | 504,000 | ||||||||
Financing Receivable, before Allowance for Credit Loss | 359,000 | 504,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | ||||||||||
Loans originated in current year | 9,013,000 | |||||||||
Loans originated before latest fiscal year | 21,757,000 | |||||||||
Loans originated two years before latest fiscal year | 4,821,000 | |||||||||
Loans originated three years before latest fiscal year | 14,621,000 | |||||||||
Loans originated four years before latest fiscal year | 6,305 | |||||||||
Loans originated five or more years before latest fiscal year | 11,615,000 | |||||||||
Loans originated, revolving loans | 11,825,000 | |||||||||
Loans held for investment (LHFI) (1) | 79,957,000 | 96,500,000 | ||||||||
Loans originated in current year | 9,013,000 | |||||||||
Loans originated two years before latest fiscal year | 4,821,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 79,957,000 | 96,500,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 9,013,000 | |||||||||
Loans originated before latest fiscal year | 21,619,000 | |||||||||
Loans originated two years before latest fiscal year | 4,729,000 | |||||||||
Loans originated three years before latest fiscal year | 14,344,000 | |||||||||
Loans originated four years before latest fiscal year | 6,263,000 | |||||||||
Loans originated five or more years before latest fiscal year | 10,431,000 | |||||||||
Loans originated, revolving loans | 8,839,000 | |||||||||
Loans held for investment (LHFI) (1) | 75,238,000 | |||||||||
Loans originated in current year | 9,013,000 | |||||||||
Loans originated two years before latest fiscal year | 4,729,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 75,238,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Special Mention [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 121,000 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 277,000 | |||||||||
Loans originated four years before latest fiscal year | 4,000 | |||||||||
Loans originated five or more years before latest fiscal year | 453,000 | |||||||||
Loans originated, revolving loans | 2,151,000 | |||||||||
Loans held for investment (LHFI) (1) | 3,006,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 3,006,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Substandard [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 17,000 | |||||||||
Loans originated two years before latest fiscal year | 92,000 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 38,000 | |||||||||
Loans originated five or more years before latest fiscal year | 731,000 | |||||||||
Loans originated, revolving loans | 835,000 | |||||||||
Loans held for investment (LHFI) (1) | 1,713,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 92,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 1,713,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Commercial and Industrial Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farm Production And Other Farm Loans Member | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 185,000 | |||||||||
Loans originated two years before latest fiscal year | 5,000 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 91,000 | |||||||||
Loans originated, revolving loans | 78,000 | |||||||||
Loans held for investment (LHFI) (1) | 359,000 | 504,000 | ||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 5,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 359,000 | 504,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farm Production And Other Farm Loans Member | Pass [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 185,000 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 90,000 | |||||||||
Loans originated, revolving loans | 78,000 | |||||||||
Loans held for investment (LHFI) (1) | 353,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 353,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farm Production And Other Farm Loans Member | Special Mention [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farm Production And Other Farm Loans Member | Substandard [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 5,000 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 1,000 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 6,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 5,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 6,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farm Production And Other Farm Loans Member | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Business Loans [Member] | Farm Production And Other Farm Loans Member | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 16,984,000 | 15,730,000 | ||||||||
Financing Receivable, before Allowance for Credit Loss | 16,984,000 | 15,730,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | ||||||||||
Loans originated in current year | 6,243,000 | |||||||||
Loans originated before latest fiscal year | 3,966,000 | |||||||||
Loans originated two years before latest fiscal year | 1,685,000 | |||||||||
Loans originated three years before latest fiscal year | 734,000 | |||||||||
Loans originated four years before latest fiscal year | 881,000 | |||||||||
Loans originated five or more years before latest fiscal year | 207,000 | |||||||||
Loans originated, revolving loans | 257,000 | |||||||||
Loans held for investment (LHFI) (1) | 13,973,000 | 12,992,000 | ||||||||
Loans originated in current year | 6,243,000 | |||||||||
Loans originated two years before latest fiscal year | 1,685,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 13,973,000 | 12,992,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 5,936,000 | |||||||||
Loans originated before latest fiscal year | 3,930,000 | |||||||||
Loans originated two years before latest fiscal year | 1,656,000 | |||||||||
Loans originated three years before latest fiscal year | 733,000 | |||||||||
Loans originated four years before latest fiscal year | 881,000 | |||||||||
Loans originated five or more years before latest fiscal year | 207,000 | |||||||||
Loans originated, revolving loans | 257,000 | |||||||||
Loans held for investment (LHFI) (1) | 13,600,000 | |||||||||
Loans originated in current year | 5,936,000 | |||||||||
Loans originated two years before latest fiscal year | 1,656,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 13,600,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Special Mention [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Substandard [Member] | ||||||||||
Loans originated in current year | 307,000 | |||||||||
Loans originated before latest fiscal year | 36,000 | |||||||||
Loans originated two years before latest fiscal year | 29,000 | |||||||||
Loans originated three years before latest fiscal year | 1,000 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 373,000 | |||||||||
Loans originated in current year | 307,000 | |||||||||
Loans originated two years before latest fiscal year | 29,000 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 373,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Doubtful [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 0 | |||||||||
Loans held for investment (LHFI) (1) | 0 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 0 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||||||||
Loans held for investment (LHFI) (1) | 3,011,000 | 2,738,000 | ||||||||
Financing Receivable, before Allowance for Credit Loss | 3,011,000 | $ 2,738,000 | ||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Pass [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 3,001,000 | |||||||||
Loans held for investment (LHFI) (1) | 3,001,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | 3,001,000 | |||||||||
Financial Assets Non Purchased Loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Unlikely to be Collected Financing Receivable [Member] | ||||||||||
Loans originated in current year | 0 | |||||||||
Loans originated before latest fiscal year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Loans originated three years before latest fiscal year | 0 | |||||||||
Loans originated four years before latest fiscal year | 0 | |||||||||
Loans originated five or more years before latest fiscal year | 0 | |||||||||
Loans originated, revolving loans | 10,000 | |||||||||
Loans held for investment (LHFI) (1) | 10,000 | |||||||||
Loans originated in current year | 0 | |||||||||
Loans originated two years before latest fiscal year | 0 | |||||||||
Financing Receivable, before Allowance for Credit Loss | $ 10,000 | |||||||||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Note 8 - ACL on LHFI (Details T
Note 8 - ACL on LHFI (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | |
Financing Receivable, Credit Loss, Expense (Reversal) | $ 105 | $ 372 | $ 47 | $ (53) | $ 56 | $ 93 | |
Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | $ (230) | $ (234) |
Note 8 - ACL on LHFI - Allowanc
Note 8 - ACL on LHFI - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | |||||
Balance | $ 6,397 | $ 6,017 | $ 5,264 | [1] | $ 5,046 | $ 4,776 | $ 4,513 | $ 5,264 | [1] | ||||
PCL | 105 | 372 | 47 | (53) | 56 | 93 | |||||||
Chargeoffs | 66 | 119 | 33 | 22 | 21 | 82 | 218 | ||||||
Recoveries | 178 | 111 | 104 | 97 | 235 | 252 | |||||||
Net recoveries | (112) | 8 | (71) | (75) | (214) | (170) | |||||||
Balance | 6,390 | [1] | 6,397 | 6,017 | 5,068 | 5,046 | 4,776 | 6,390 | [1] | ||||
Balance | 6,390 | [1] | 6,397 | 6,017 | 5,068 | 5,046 | 4,776 | 6,390 | [1] | $ 5,264 | [1] | ||
Loans individually evaluated for impairment | 158 | 0 | 158 | ||||||||||
Loans collectively evaluated for impairment | 6,232 | 5,068 | 6,232 | ||||||||||
Loans individually evaluated for specific impairment | 4,417 | 1,482 | 4,417 | ||||||||||
Loans collectively evaluated for general impairment | 582,821 | 577,183 | 582,821 | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 587,238 | [1] | 578,665 | 587,238 | [1] | 585,591 | [1] | ||||||
Ending Balance, September 30, 2022 | 6,390 | [1] | 6,397 | 6,017 | 5,068 | 5,046 | 4,776 | 6,390 | [1] | 5,264 | [1] | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||||||||
Balance | 635 | 635 | |||||||||||
Balance | $ 634 | 635 | |||||||||||
Ending Balance, September 30, 2022 | $ 634 | 635 | |||||||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||||||||
Balance | 5,334 | 4,798 | 4,154 | 3,982 | 3,842 | 3,622 | 4,154 | ||||||
PCL | 218 | 564 | (46) | (20) | 81 | 170 | |||||||
Chargeoffs | 2 | 18 | 1 | 6 | 1 | 0 | 21 | ||||||
Recoveries | 124 | 46 | 26 | 23 | 60 | 50 | |||||||
Net recoveries | (122) | (28) | (25) | (17) | (59) | (50) | |||||||
Balance | 5,430 | 5,334 | 4,798 | 3,979 | 3,982 | 3,842 | 5,430 | ||||||
Balance | 5,430 | 5,334 | 4,798 | 3,979 | 3,982 | 3,842 | 5,430 | 4,154 | |||||
Loans individually evaluated for impairment | 158 | 0 | 158 | ||||||||||
Loans collectively evaluated for impairment | 5,272 | 3,979 | 5,272 | ||||||||||
Loans individually evaluated for specific impairment | 2,993 | 1,286 | 2,993 | ||||||||||
Loans collectively evaluated for general impairment | 486,945 | 473,280 | 486,945 | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 489,938 | 474,566 | 489,938 | ||||||||||
Ending Balance, September 30, 2022 | 5,430 | 5,334 | 4,798 | 3,979 | 3,982 | 3,842 | 5,430 | 4,154 | |||||
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||||||||
Balance | 665 | 665 | |||||||||||
Balance | 665 | ||||||||||||
Ending Balance, September 30, 2022 | 665 | ||||||||||||
Commercial Portfolio Segment [Member] | |||||||||||||
Balance | 728 | 888 | 713 | 674 | 651 | 645 | 713 | ||||||
PCL | (127) | (222) | 112 | (27) | 8 | 57 | |||||||
Chargeoffs | 5 | 67 | 0 | 5 | 0 | 56 | |||||||
Recoveries | 22 | 5 | 7 | 6 | 15 | 5 | |||||||
Net recoveries | (17) | 62 | (7) | (1) | (15) | 51 | |||||||
Balance | 584 | 728 | 888 | 648 | 674 | 651 | 584 | ||||||
Balance | 584 | 728 | 888 | 648 | 674 | 651 | 584 | 713 | |||||
Loans individually evaluated for impairment | 0 | 0 | 0 | ||||||||||
Loans collectively evaluated for impairment | 584 | 648 | 584 | ||||||||||
Loans individually evaluated for specific impairment | 1,424 | 196 | 1,424 | ||||||||||
Loans collectively evaluated for general impairment | 78,892 | 88,339 | 78,892 | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 80,316 | 88,535 | 80,316 | ||||||||||
Ending Balance, September 30, 2022 | 584 | 728 | 888 | 648 | 674 | 651 | 584 | 713 | |||||
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||||||||
Balance | 56 | 56 | |||||||||||
Balance | 56 | ||||||||||||
Ending Balance, September 30, 2022 | 56 | ||||||||||||
Consumer Portfolio Segment [Member] | |||||||||||||
Balance | 335 | 331 | 397 | 390 | 283 | 246 | 397 | ||||||
PCL | 14 | 30 | (19) | (6) | (33) | (134) | |||||||
Chargeoffs | 59 | 34 | 32 | 11 | 20 | 26 | |||||||
Recoveries | 32 | 60 | 71 | 68 | 160 | 197 | |||||||
Net recoveries | 27 | (26) | (39) | (57) | (140) | (171) | |||||||
Balance | 376 | 335 | 331 | 441 | 390 | 283 | 376 | ||||||
Balance | 376 | 335 | 331 | 441 | 390 | 283 | 376 | 397 | |||||
Loans individually evaluated for impairment | 0 | 0 | 0 | ||||||||||
Loans collectively evaluated for impairment | 376 | 441 | 376 | ||||||||||
Loans individually evaluated for specific impairment | 0 | 0 | 0 | ||||||||||
Loans collectively evaluated for general impairment | 16,984 | 15,564 | 16,984 | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 16,984 | 15,564 | 16,984 | 15,730 | |||||||||
Ending Balance, September 30, 2022 | $ 376 | $ 335 | 331 | $ 441 | $ 390 | $ 283 | 376 | 397 | |||||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |||||||||||||
Balance | $ (86) | $ (86) | |||||||||||
Balance | (86) | ||||||||||||
Ending Balance, September 30, 2022 | $ (86) | ||||||||||||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Note 8 - ACL on LHFI - Net Char
Note 8 - ACL on LHFI - Net Charge-offs (Recoveries) by Portfolio (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | |
2023 charge-off | $ 10 | ||||||
2022 charge-off | 28 | ||||||
2021 charge-off | 2 | ||||||
2020 charge-off | 4 | ||||||
2019 charge-off | 5 | ||||||
Prior, charge-off | 83 | ||||||
Revolving loans | 86 | ||||||
Chargeoffs | $ 66 | $ 119 | $ 33 | $ 22 | $ 21 | $ 82 | 218 |
Commercial Real Estate Portfolio Segment [Member] | |||||||
2023 charge-off | 0 | ||||||
2022 charge-off | 0 | ||||||
2021 charge-off | 0 | ||||||
2020 charge-off | 0 | ||||||
2019 charge-off | 5 | ||||||
Prior, charge-off | 16 | ||||||
Revolving loans | 0 | ||||||
Chargeoffs | 2 | 18 | 1 | 6 | 1 | 0 | 21 |
Real Estate Loan [Member] | |||||||
2023 charge-off | 0 | ||||||
2022 charge-off | 0 | ||||||
2021 charge-off | 0 | ||||||
2020 charge-off | 0 | ||||||
2019 charge-off | 5 | ||||||
Prior, charge-off | 16 | ||||||
Revolving loans | 0 | ||||||
Chargeoffs | 21 | ||||||
Business Loans [Member] | |||||||
2023 charge-off | 5 | ||||||
2022 charge-off | 0 | ||||||
2021 charge-off | 0 | ||||||
2020 charge-off | 0 | ||||||
2019 charge-off | 0 | ||||||
Prior, charge-off | 67 | ||||||
Revolving loans | 0 | ||||||
Chargeoffs | 72 | ||||||
Business Loans [Member] | Commercial and Industrial Loans [Member] | |||||||
2023 charge-off | 5 | ||||||
2022 charge-off | 0 | ||||||
2021 charge-off | 0 | ||||||
2020 charge-off | 0 | ||||||
2019 charge-off | 0 | ||||||
Prior, charge-off | 67 | ||||||
Revolving loans | 0 | ||||||
Chargeoffs | 72 | ||||||
Consumer Portfolio Segment [Member] | |||||||
Chargeoffs | $ 59 | $ 34 | $ 32 | $ 11 | $ 20 | $ 26 | |
Consumer Portfolio Segment [Member] | Other Consumer Loans [Member] | |||||||
2023 charge-off | 5 | ||||||
2022 charge-off | 28 | ||||||
2021 charge-off | 2 | ||||||
2020 charge-off | 4 | ||||||
2019 charge-off | 0 | ||||||
Prior, charge-off | 0 | ||||||
Revolving loans | 0 | ||||||
Chargeoffs | 39 | ||||||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||||
2023 charge-off | 0 | ||||||
2022 charge-off | 0 | ||||||
2021 charge-off | 0 | ||||||
2020 charge-off | 0 | ||||||
2019 charge-off | 0 | ||||||
Prior, charge-off | 0 | ||||||
Revolving loans | 86 | ||||||
Chargeoffs | $ 86 |
Note 8 - ACL on LHFI - Recorded
Note 8 - ACL on LHFI - Recorded Investment in Loans Related to Balance in Allowance for Possible Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Balance | $ 681 | $ 0 |
PCL for off-balance sheet credit exposure | 230 | 234 |
Balance | 911 | 911 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Balance | $ 0 | $ 677 |
Note 9 - Derivative Instrumen_3
Note 9 - Derivative Instruments - Fair Value Hedges (Details) - Interest Rate Swap [Member] - Fair Value Hedging [Member] - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Notional amount | $ 66,600 | $ 0 |
Fair value | $ 641 | $ 0 |
Note 9 - Derivative Instrumen_4
Note 9 - Derivative Instruments - Amount of Gain (Loss) Recognized in Income (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest rate swaps - investment securities | $ 106 | $ 0 | $ 106 | $ 0 |
Fair Value Hedging [Member] | ||||
Interest rate swaps - investment securities | $ (106) | $ 0 | $ (106) | $ 0 |
Note 10 - Secured Line of Cre_3
Note 10 - Secured Line of Credit (Details Textual) - USD ($) $ in Millions | Sep. 30, 2023 | Jun. 09, 2021 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 20 | |
Line of Credit Facility, Interest Rate at Period End | 8.25% | 3.25% |
Percentage of Unusual Line Fee, Rate | 0.25% |
Note 10 - Secured Line of Cre_4
Note 10 - Secured Line of Credit - Secured Line of Credit (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Total credit facility | $ 18 | $ 18 |
Letter of Credit [Member] | ||
Total credit facility | 20 | 20 |
Letter of Credit [Member] | Funded Balance [Member] | ||
Total credit facility | 18 | 18 |
Letter of Credit [Member] | Unfunded Balance [Member] | ||
Total credit facility | $ 2 | $ 2 |
Note 11 - Shareholders' Equit_2
Note 11 - Shareholders' Equity - Summary of Capital Structure Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Balance | $ 40,141 | $ 41,123 | $ 39,025 | $ 25,926 | $ 62,950 | $ 105,900 | $ 39,025 | $ 105,900 |
Net income | 1,207 | 300 | 1,140 | 2,580 | 2,541 | 2,036 | 2,647 | 7,157 |
Dividends paid ($0.24 per share) | (899) | (898) | (1,346) | (1,345) | (1,345) | (1,343) | ||
Restricted stock granted | 0 | 0 | 0 | |||||
Stock compensation expense | 35 | 32 | 40 | 39 | 39 | 39 | ||
Other comprehensive loss, net | (6,139) | (416) | 3,248 | 5,437 | (38,259) | (43,682) | (3,307) | (76,504) |
Balance | 34,345 | 40,141 | 41,123 | 32,637 | 25,926 | 62,950 | 34,345 | 32,637 |
Balance, September 30, 2023 | 34,345 | $ 40,141 | 41,123 | $ 32,637 | $ 25,926 | $ 62,950 | 34,345 | $ 32,637 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||
Balance | $ (984) | $ (984) | ||||||
Balance, September 30, 2023 | ||||||||
Common Stock [Member] | ||||||||
Balance (in shares) | 5,607,438 | 5,603,570 | 5,603,570 | 5,595,320 | 5,595,320 | 5,603,570 | 5,595,320 | |
Balance | 1,123 | $ 1,122 | $ 1,122 | $ 1,121 | $ 1,120 | $ 1,120 | $ 1,122 | $ 1,120 |
Net income | 0 | 0 | 0 | 0 | 0 | 0 | ||
Dividends paid ($0.24 per share) | $ 0 | 0 | $ 0 | 0 | $ 0 | 0 | ||
Restricted stock granted (in shares) | 9,000 | 3,868 | 8,250 | |||||
Restricted stock granted | 1 | $ 0 | $ 1 | |||||
Stock compensation expense | $ 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive loss, net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Balance | $ 1,123 | 1,123 | $ 1,122 | $ 1,121 | $ 1,121 | $ 1,120 | $ 1,123 | $ 1,121 |
Balance (in shares) | 5,616,438 | 5,607,438 | 5,603,570 | 5,603,570 | 5,595,320 | 5,616,438 | 5,603,570 | |
Balance, September 30, 2023 | $ 1,123 | 1,123 | $ 1,122 | $ 1,121 | $ 1,121 | $ 1,120 | $ 1,123 | $ 1,121 |
Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||
Balance | ||||||||
Balance, September 30, 2023 | ||||||||
Additional Paid-in Capital [Member] | ||||||||
Balance | 18,519 | 18,488 | 18,448 | 18,370 | 18,332 | 18,293 | 18,448 | 18,293 |
Net income | 0 | 0 | 0 | 0 | 0 | 0 | ||
Dividends paid ($0.24 per share) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restricted stock granted | (1) | 0 | (1) | |||||
Stock compensation expense | 35 | 32 | 40 | 39 | 39 | 39 | ||
Other comprehensive loss, net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Balance | 18,554 | 18,519 | 18,488 | 18,409 | 18,370 | 18,332 | 18,554 | 18,409 |
Balance, September 30, 2023 | 18,554 | 18,519 | 18,488 | 18,409 | 18,370 | 18,332 | 18,554 | 18,409 |
Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||
Balance | ||||||||
Balance, September 30, 2023 | ||||||||
AOCI Attributable to Parent [Member] | ||||||||
Balance | (80,238) | (79,822) | (83,070) | (93,736) | (55,477) | (11,795) | (83,070) | (11,795) |
Net income | 0 | 0 | 0 | 0 | 0 | 0 | ||
Dividends paid ($0.24 per share) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Restricted stock granted | 0 | 0 | 0 | |||||
Stock compensation expense | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive loss, net | (6,139) | (416) | 3,248 | 5,437 | (38,259) | (43,682) | ||
Balance | (86,377) | (80,238) | (79,822) | (88,299) | (93,736) | (55,477) | (86,377) | (88,299) |
Balance, September 30, 2023 | (86,377) | (80,238) | (79,822) | (88,299) | (93,736) | (55,477) | (86,377) | (88,299) |
AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||
Balance | ||||||||
Balance, September 30, 2023 | ||||||||
Retained Earnings [Member] | ||||||||
Balance | 100,737 | 101,335 | 102,525 | 100,171 | 98,975 | 98,282 | 102,525 | 98,282 |
Net income | 1,207 | 300 | 1,140 | 2,580 | 2,541 | 2,036 | ||
Dividends paid ($0.24 per share) | (899) | (898) | (1,346) | (1,345) | (1,345) | (1,343) | ||
Restricted stock granted | 0 | 0 | 0 | |||||
Stock compensation expense | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other comprehensive loss, net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Balance | 101,045 | 100,737 | 101,335 | 101,406 | 100,171 | 98,975 | 101,045 | 101,406 |
Balance, September 30, 2023 | $ 101,045 | $ 100,737 | 101,335 | $ 101,406 | $ 100,171 | $ 98,975 | 101,045 | $ 101,406 |
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||||
Balance | $ (984) | $ (984) | ||||||
Balance, September 30, 2023 |
Note 11 - Shareholders' Equit_3
Note 11 - Shareholders' Equity - Summary of Capital Structure Activity (Details) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Dividends paid, per share (in dollars per share) | $ 0.16 | $ 0.24 | $ 0.56 | $ 0.72 |
Note 12 - Fair Values of Fina_3
Note 12 - Fair Values of Financial Instruments (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||
Financing Receivable, before Allowance for Credit Loss | $ 587,238 | [1] | $ 585,591 | [1] | $ 578,665 | |||||
Financing Receivable, Allowance for Credit Loss | 6,390 | [1] | $ 6,397 | $ 6,017 | 5,264 | [1] | $ 5,068 | $ 5,046 | $ 4,776 | $ 4,513 |
Impaired Loans [Member] | ||||||||||
Financing Receivable, before Allowance for Credit Loss | 2,641 | 2,190 | ||||||||
Financing Receivable, Allowance for Credit Loss | $ 158 | $ 116 | ||||||||
[1]Effective January 1, 2023, Citizens adopted FASB ASU 2016-13 using the modified restrospective approach. Therefore prior period balances are presented under legacy GAAP and may not be comparable to current period presentation. |
Note 12 - Fair Values of Fina_4
Note 12 - Fair Values of Financial Instruments - Investment Securities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Available for sale, fair value | $ 183,535 | $ 201,322 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale, fair value | 85,949 | 96,972 |
State, County and Municipal [Member] | ||
Available for sale, fair value | 97,162 | 103,913 |
Other Debt Obligations [Member] | ||
Available for sale, fair value | 424 | 437 |
Fair Value, Recurring [Member] | ||
Derivative instruments | 641 | |
Available for sale, fair value | 184,176 | 201,322 |
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale, fair value | 85,949 | 96,972 |
Fair Value, Recurring [Member] | State, County and Municipal [Member] | ||
Available for sale, fair value | 97,162 | 103,913 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | ||
Available for sale, fair value | 424 | 437 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative instruments | 0 | |
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | State, County and Municipal [Member] | ||
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Debt Obligations [Member] | ||
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative instruments | 641 | |
Available for sale, fair value | 184,176 | 201,322 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale, fair value | 85,949 | 96,972 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | State, County and Municipal [Member] | ||
Available for sale, fair value | 97,162 | 103,913 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Debt Obligations [Member] | ||
Available for sale, fair value | 424 | 437 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative instruments | 0 | |
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | State, County and Municipal [Member] | ||
Available for sale, fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | ||
Available for sale, fair value | $ 0 | $ 0 |
Note 12 - Fair Values of Fina_5
Note 12 - Fair Values of Financial Instruments - Assets Measured on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Loans individually evaluated for impairment | $ 2,483 | $ 2,074 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans individually evaluated for impairment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Loans individually evaluated for impairment | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans individually evaluated for impairment | $ 2,483 | $ 2,074 |
Note 12 - Fair Values of Fina_6
Note 12 - Fair Values of Financial Instruments - Carrying Value and Estimated Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Investment securities available-for-sale, at fair value | $ 183,535 | $ 201,322 |
Reported Value Measurement [Member] | ||
Interest bearing deposits with banks | 130,320 | 1,646 |
Securities held-to-maturity | 392,133 | 406,590 |
Investment securities available-for-sale, at fair value | 183,535 | 201,322 |
Net LHFI | 580,848 | 580,327 |
Derivative instruments | 641 | |
Deposits | 1,194,697 | 1,126,402 |
Securities sold under agreement to repurchase | 151,089 | 127,574 |
Borrowings on secured line of credit | 18,000 | 18,000 |
Reported Value Measurement [Member] | Cash [Member] | ||
Cash and due from banks | 14,061 | 26,948 |
Estimate of Fair Value Measurement [Member] | ||
Interest bearing deposits with banks | 130,320 | 1,646 |
Securities held-to-maturity | 338,863 | 375,292 |
Investment securities available-for-sale, at fair value | 183,535 | 201,322 |
Net LHFI | 546,924 | 541,173 |
Derivative instruments | 641 | |
Deposits | 1,170,287 | 1,126,381 |
Securities sold under agreement to repurchase | 151,089 | 127,574 |
Borrowings on secured line of credit | 18,000 | 18,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Interest bearing deposits with banks | 130,320 | 1,646 |
Securities held-to-maturity | 0 | 0 |
Investment securities available-for-sale, at fair value | 0 | 0 |
Net LHFI | 0 | 0 |
Derivative instruments | 0 | |
Deposits | 958,179 | 947,479 |
Securities sold under agreement to repurchase | 151,089 | 127,574 |
Borrowings on secured line of credit | 18,000 | 18,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Interest bearing deposits with banks | 0 | 0 |
Securities held-to-maturity | 338,863 | 375,292 |
Investment securities available-for-sale, at fair value | 183,535 | 201,322 |
Net LHFI | 0 | 0 |
Derivative instruments | 641 | |
Deposits | 212,108 | 178,902 |
Securities sold under agreement to repurchase | 0 | 0 |
Borrowings on secured line of credit | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Interest bearing deposits with banks | 0 | 0 |
Securities held-to-maturity | 0 | 0 |
Investment securities available-for-sale, at fair value | 0 | 0 |
Net LHFI | 546,924 | 541,173 |
Derivative instruments | 0 | |
Deposits | 0 | 0 |
Securities sold under agreement to repurchase | 0 | 0 |
Borrowings on secured line of credit | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Cash [Member] | ||
Cash and due from banks | 14,061 | 26,948 |
Estimate of Fair Value Measurement [Member] | Cash [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 14,061 | 26,948 |
Estimate of Fair Value Measurement [Member] | Cash [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Cash [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | $ 0 | $ 0 |