Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | Apr. 28, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001303942 | |
Entity Registrant Name | BankFinancial CORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 0-51331 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 75-3199276 | |
Entity Address, Address Line One | 60 North Frontage Road | |
Entity Address, City or Town | Burr Ridge | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60527 | |
City Area Code | 800 | |
Local Phone Number | 894-6900 | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Trading Symbol | BFIN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 12,693,993 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from other financial institutions | $ 19,963 | $ 12,046 |
Interest-bearing deposits in other financial institutions | 57,042 | 54,725 |
Cash and cash equivalents | 77,005 | 66,771 |
Securities, at fair value | 170,239 | 210,338 |
Loans receivable, net of allowance for credit losses: March 31, 2023, $10,032 and December 31, 2022, $8,129 | 1,225,288 | 1,226,743 |
Foreclosed assets, net | 1,393 | 476 |
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost | 7,490 | 7,490 |
Premises held-for-sale | 1,246 | 0 |
Premises and equipment, net | 22,955 | 24,956 |
Accrued interest receivable | 8,316 | 7,338 |
Bank-owned life insurance | 18,731 | 18,815 |
Deferred taxes | 5,395 | 5,480 |
Other assets | 6,052 | 7,035 |
Total assets | 1,544,110 | 1,575,442 |
Liabilities | ||
Noninterest-bearing | 287,493 | 280,625 |
Interest-bearing | 1,027,721 | 1,094,309 |
Total deposits | 1,315,214 | 1,374,934 |
Borrowings | 35,000 | 0 |
Subordinated notes, net of unamortized issuance costs | 19,645 | 19,634 |
Advance payments by borrowers for taxes and insurance | 7,321 | 8,674 |
Accrued interest payable and other liabilities | 14,571 | 20,529 |
Total liabilities | 1,391,751 | 1,423,771 |
Stockholders’ equity | ||
Preferred stock, $0.01 par value, 25,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $0.01 par value, 100,000,000 shares authorized; 12,693,993 shares issued at March 31, 2023 and 12,742,597 shares issued at December 31, 2022 | 127 | 127 |
Additional paid-in capital | 85,346 | 85,848 |
Retained earnings | 71,449 | 71,808 |
Accumulated other comprehensive loss | (4,563) | (6,112) |
Total stockholders’ equity | 152,359 | 151,671 |
Total liabilities and stockholders’ equity | $ 1,544,110 | $ 1,575,442 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Allowance for loan losses | $ 10,032 | $ 8,129 |
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common Stock, shares issued (in shares) | 12,693,993 | 12,742,597 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Interest and dividend income | |||
Loans, including fees | $ 14,393,000 | $ 10,813,000 | |
Securities | 1,114,000 | 299,000 | |
Other | 653,000 | 306,000 | |
Total interest income | 16,160,000 | 11,418,000 | |
Interest expense | |||
Deposits | 2,300,000 | 445,000 | |
Borrowings and Subordinated notes | 360,000 | 198,000 | |
Total interest expense | 2,660,000 | 643,000 | |
Net interest income | 13,500,000 | 10,775,000 | |
Provision for credit losses - loans | 85,000 | 276,000 | |
Recovery of credit losses - unfunded commitments | (37,000) | 0 | |
Provision for credit losses | 48,000 | 276,000 | |
Net interest income after provision for credit losses | 13,452,000 | 10,499,000 | |
Noninterest income | |||
Deposit service charges and fees | 816,000 | 781,000 | |
Loan servicing fees | [1] | 129,000 | 101,000 |
Trust and insurance commissions and annuities income | 367,000 | 338,000 | |
(Loss) earnings on bank-owned life insurance | [1] | (84,000) | 28,000 |
Losses on sales of securities | [1] | (454,000) | 0 |
Valuation adjustment on bank premises held-for-sale | [1] | (553,000) | 0 |
Other | [1] | 92,000 | 196,000 |
Total noninterest income | 313,000 | 1,444,000 | |
Noninterest expense | |||
Compensation and benefits | 5,555,000 | 5,480,000 | |
Office occupancy and equipment | 2,038,000 | 2,134,000 | |
Advertising and public relations | 190,000 | 142,000 | |
Information technology | 849,000 | 851,000 | |
Professional fees | 317,000 | 373,000 | |
Supplies, telephone, and postage | 359,000 | 347,000 | |
FDIC insurance premiums | 154,000 | 116,000 | |
Other | 830,000 | 846,000 | |
Total noninterest expense | 10,292,000 | 10,289,000 | |
Income before income taxes | 3,473,000 | 1,654,000 | |
Income tax expense | 840,000 | 386,000 | |
Net income | $ 2,633,000 | $ 1,268,000 | |
Basic and diluted earnings per common share (in dollars per share) | $ 0.21 | $ 0.10 | |
Basic and diluted weighted average common shares outstanding (in shares) | 12,721,841 | 13,204,041 | |
[1]Not within the scope of ASC 606 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income | $ 2,633 | $ 1,268 |
Unrealized holding gain (loss) on securities arising during the period | 1,641 | (4,065) |
Tax effect | (427) | 1,088 |
Unrealized holding gain (loss) on securities, net of tax | 1,214 | (2,977) |
Reclassification adjustment for loss included in net income | 454 | 0 |
Tax effect, included in income tax expense | (119) | 0 |
Reclassification adjustment for loss included in net income, net of tax | 335 | 0 |
Other comprehensive gain (loss), net of tax | 1,549 | (2,977) |
Comprehensive income (loss) | $ 4,182 | $ (1,709) |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2021 | $ 132 | $ 90,709 | $ 66,545 | $ 80 | $ 157,466 | |||||
Net income | 0 | 0 | 1,268 | 0 | 1,268 | |||||
Other comprehensive income (loss), net of tax effect | 0 | 0 | 0 | (2,977) | (2,977) | |||||
Repurchase and retirement of common stock | 0 | (539) | 0 | 0 | (539) | |||||
Cash dividends declared on common stock | 0 | 0 | (1,323) | 0 | (1,323) | |||||
Balance at Mar. 31, 2022 | 132 | 90,170 | 66,490 | (2,897) | 153,895 | |||||
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022 | $ 0 | $ 0 | $ (1,719) | $ 0 | $ (1,719) | |||||
Balance at Dec. 31, 2022 | 127 | 85,848 | 71,808 | (6,112) | 151,671 | |||||
Net income | 0 | 0 | 2,633 | 0 | 2,633 | |||||
Other comprehensive income (loss), net of tax effect | 0 | 0 | 0 | 1,549 | 1,549 | |||||
Repurchase and retirement of common stock | 0 | (502) | 0 | 0 | (502) | |||||
Cash dividends declared on common stock | 0 | 0 | (1,273) | 0 | (1,273) | |||||
Balance at Mar. 31, 2023 | $ 127 | $ 85,346 | $ 71,449 | $ (4,563) | $ 152,359 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Repurchase and retirement of common stock (in shares) | 48,604 | 50,000 |
Cash dividends declared on common stock (in dollars per share) | $ 0.10 | $ 0.10 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Cash flows from operating activities | |||
Net income | $ 2,633,000 | $ 1,268,000 | |
Adjustments to reconcile net income to net cash from operating activities | |||
Provision for credit losses - loans | 85,000 | 276,000 | |
Recovery of credit losses - unfunded commitments | (37,000) | 0 | |
Depreciation and amortization | 216,000 | 489,000 | |
Net change in net deferred loan origination costs | (83,000) | (194,000) | |
Losses on sales of securities | [1] | 454,000 | 0 |
Valuation adjustment on bank premises held-for-sale | [1] | 553,000 | 0 |
Loss on disposal of premises and equipment | 4,000 | 0 | |
Gain on sale of foreclosed assets | 0 | (6,000) | |
Foreclosed assets valuation adjustments | 0 | (8,000) | |
(Loss) earnings on bank-owned life insurance | [1] | 84,000 | (28,000) |
Net change in: | |||
Accrued interest receivable | (978,000) | (1,242,000) | |
Other assets | 1,132,000 | (334,000) | |
Accrued interest payable and other liabilities | (6,338,000) | (8,220,000) | |
Net cash from operating activities | (2,275,000) | (7,999,000) | |
Cash flows from (used in) investing activities | |||
Proceeds from maturities | 0 | 1,488,000 | |
Proceeds from principal repayments | 170,000 | 325,000 | |
Proceeds from sale of securities | 42,631,000 | 0 | |
Purchases of securities | (744,000) | (52,778,000) | |
Net change in loans receivable | (1,387,000) | (11,227,000) | |
Proceeds from sale of foreclosed assets | 4,000 | 45,000 | |
Proceeds from sale of premises and equipment | 3,000 | 0 | |
Purchase of premises and equipment, net | (320,000) | (402,000) | |
Net cash from (used in) investing activities | 40,357,000 | (62,549,000) | |
Cash flows from financing activities | |||
Deposits | (59,720,000) | (26,826,000) | |
Borrowings | 35,000,000 | 0 | |
Advance payments by borrowers for taxes and insurance | (1,353,000) | (1,924,000) | |
Repurchase and retirement of common stock | (502,000) | (539,000) | |
Cash dividends paid on common stock | (1,273,000) | (1,323,000) | |
Net cash from financing activities | (27,848,000) | (30,612,000) | |
Net change in cash and cash equivalents | 10,234,000 | (101,160,000) | |
Beginning cash and cash equivalents | 66,771,000 | 502,162,000 | |
Ending cash and cash equivalents | 77,005,000 | 401,002,000 | |
Supplemental disclosures of cash flow information: | |||
Interest paid | 2,411,000 | 456,000 | |
Income taxes paid | 1,000 | 16,000 | |
Income taxes refunded | 0 | 3,000 | |
Assets transferred to premises held-for-sale | 1,799,000 | 0 | |
Loans transferred to foreclosed assets | $ 921,000 | $ 274,000 | |
[1]Not within the scope of ASC 606 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 Basis of Presentation three March 31, 2023 not may December 31, 2023 Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Use of Estimates Factored Receivables: 4 may third March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Factoring fees are recognized in interest income as incurred by the customer and deducted from the customer's reserve balances. Other factoring-related fees, which include wire transfer fees, broker fees, and other similar fees, are reported by the Company as loan servicing fees in noninterest income. Allowance for Credit Losses: January 1, 2023, 326” No. 2016 13, Financial Instruments Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 326 326 326 The Company adopted ASC 326 January 1, 2023 326 January 1, 2023 Post ASC 326 Adoption Pre-ASC 326 Adoption Pre-tax impact of ASC 326 Adoption Assets: Allowance One-to-four family residential real estate $ 380 $ 281 $ 99 Multi-family mortgage 4,647 4,017 630 Nonresidential real estate 1,300 1,234 66 Commercial loans and leases 3,670 2,548 1,122 Consumer 39 49 (10) Total allowance for credit losses $ 10,036 $ 8,129 $ 1,907 Liabilities: Unfunded commitment reserve $ 417 $ — $ 417 The allowance for credit losses (“ACL”) is evaluated on a regular basis and established through charges to earnings in the form of a provision for credit losses. When a loan or portion of a loan is determined to be uncollectible, the portion deemed uncollectible is charged against the allowance and subsequent recoveries, if any, are credited to the allowance. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. a. Portfolio Segmentation ( Pooled Loans ) Portfolio segmentation is defined as the pooling of loans based upon similar risk characteristics such that quantitative methodologies and qualitative adjustment factors for estimating the allowance for credit losses is constructed for each segment. The allowance for credit losses for Pooled Loans estimate is based upon periodic review of the collectability of the loans quantitatively correlating historical loan experience with reasonable and supportable forecasts using forward looking information. Adjustments to the quantitative evaluation may b. Individually Evaluated Loans The Company establishes a specific loss reserve for individually evaluated loans which do not c. Accrued Interest Receivable Upon adoption of ASC 326 January 1, 2023, ● Presenting accrued interest receivable balances separately within another line item on the Consolidated Statements of Financial Condition. ● Continuing our policy to fully reserve accrued interest receivable by reversing interest income. For commercial loans, the reserve is established upon becoming 90 120 not ● Not d. Reserve for Unfunded Commitments The reserve for unfunded commitments (the “Unfunded Commitment Reserve”) represents the expected credit losses on off-balance sheet commitments such as unfunded commitments to extend credit and standby letters of credit. However, a liability is not Troubled Debt Restructurings and Vintage Disclosures: 2022 02 “Financial Instruments—Credit Losses (Topic 326 326. 310 20 January 1, 2023. Reclassifications These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2022 |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 2 Amounts reported in earnings per share reflect earnings available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the period. Three Months Ended March 31, 2023 2022 Net income available to common stockholders $ 2,633 $ 1,268 Basic and diluted weighted average common shares outstanding 12,721,841 13,204,041 Basic and diluted earnings per common share $ 0.21 $ 0.10 |
Note 3 - Securities
Note 3 - Securities | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale Securities March 31, 2023 Certificates of deposit $ 2,977 $ — $ — $ 2,977 Municipal securities 240 — (13 ) 227 U.S. Treasury Notes 128,137 — (5,772 ) 122,365 U.S. government-sponsored agencies 40,000 — (261 ) 39,739 Mortgage-backed securities - residential 3,880 25 (124 ) 3,781 Collateralized mortgage obligations - residential 1,171 — (21 ) 1,150 $ 176,405 $ 25 $ (6,191 ) $ 170,239 December 31, 2022 Certificates of deposit $ 2,233 $ — $ — $ 2,233 Municipal securities 240 — (15 ) 225 U.S. Treasury Notes 170,906 — (7,803 ) 163,103 U.S. government-sponsored agencies 40,000 — (301 ) 39,699 Mortgage-backed securities - residential 3,997 27 (143 ) 3,881 Collateralized mortgage obligations - residential 1,223 — (26 ) 1,197 $ 218,599 $ 27 $ (8,288 ) $ 210,338 Mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities and agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support. The amortized cost and fair values of securities available-for-sale by contractual maturity are shown below. Securities not may may March 31, 2023 Amortized Cost Fair Value Due in one year or less $ 63,028 $ 61,858 Due after one year through five years 108,326 103,450 171,354 165,308 Mortgage-backed securities - residential 3,880 3,781 Collateralized mortgage obligations - residential 1,171 1,150 $ 176,405 $ 170,239 Securities available-for-sale with unrealized losses not Less than 12 Months 12 Months or More Total Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss March 31, 2023 Municipal securities — $ — $ — 1 $ 227 $ (13 ) 1 $ 227 $ (13 ) U.S. Treasury Notes 2 4,170 (53 ) 179 118,195 (5,719 ) 181 122,365 (5,772 ) U.S. government-sponsored agencies 9 39,739 (261 ) — — — 9 39,739 (261 ) Mortgage-backed securities - residential 14 2,414 (78 ) 2 539 (46 ) 16 2,953 (124 ) Collateralized mortgage obligations - residential 4 256 (4 ) 4 894 (17 ) 8 1,150 (21 ) 29 $ 46,579 $ (396 ) 186 $ 119,855 $ (5,795 ) 215 $ 166,434 $ (6,191 ) December 31, 2022 Municipal securities 1 $ 225 $ (15 ) — $ — $ — 1 $ 225 $ (15 ) U.S. Treasury Notes 147 104,439 (4,104 ) 53 58,664 (3,699 ) 200 163,103 (7,803 ) U.S. government-sponsored agencies 9 39,699 (301 ) — — — 9 39,699 (301 ) Mortgage-backed securities - residential 18 3,016 (143 ) — — — 18 3,016 (143 ) Collateralized mortgage obligations - residential 5 1,009 (18 ) 1 171 (8 ) 6 1,180 (26 ) 180 $ 148,388 $ (4,581 ) 54 $ 58,835 $ (3,707 ) 234 $ 207,223 $ (8,288 ) The Company evaluates marketable investment securities with significant declines in fair value on a quarterly basis to determine whether they should be considered impaired under current accounting guidance, which generally provides that if a marketable security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the security is impaired. U.S. Treasury Notes, U.S. government-sponsored agencies and certain other available-for-sale securities that the Company holds in its investment portfolio were in an unrealized loss position at March 31, 2023 not uality, it is not We reviewed the available-for-sale securities in an unrealized loss position within the guidelines of ASC 326 no The proceeds from sales of securities and the associated losses were as follows: Three Months Ended March 31, 2023 2022 Proceeds $ 42,631 $ — Gross gains — — Gross losses (454 ) — |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 The summary of loans receivable by class of loans is as follows: March 31, 2023 December 31, 2022 One-to-four family residential real estate $ 21,475 $ 23,133 Multi-family mortgage 544,673 537,394 Nonresidential real estate 123,360 119,705 Commercial loans and leases 544,216 553,056 Consumer 1,596 1,584 1,235,320 1,234,872 Allowance for credit losses (10,032 ) (8,129 ) Loans, net $ 1,225,288 $ 1,226,743 Net deferred loan origination costs included in the table above were $1.7 million as of March 31, 2023 December 31, 2022 Allowance for Credit Losses - Loans The following table represents the activity in the ACL by class of loans: One-to-four family residential real estate Multi-family mortgage Nonresidential real estate Commercial loans and leases Consumer Total For the three months ended March 31, 2023 Beginning balance, prior to adoption of ASC 326 $ 281 $ 4,017 $ 1,234 $ 2,548 $ 49 $ 8,129 Impact of adopting ASC 326 99 630 66 1,122 (10 ) 1,907 Beginning balance, after adoption of ASC 326 380 4,647 1,300 3,670 39 10,036 Provision for (recovery of) credit losses (31 ) 62 47 (16 ) 23 85 Loans charged off — — — (79 ) (22 ) (101 ) Recoveries 5 5 — 1 1 12 $ 354 $ 4,714 $ 1,347 $ 3,576 $ 41 $ 10,032 March 31, 2022 Beginning balance $ 331 $ 3,377 $ 1,311 $ 1,652 $ 44 $ 6,715 Provision for (recovery of) credit losses (14 ) 8 (162 ) 425 19 276 Loans charged off (4 ) — (192 ) — (18 ) (214 ) Recoveries 2 5 — 1 1 9 $ 315 $ 3,390 $ 957 $ 2,078 $ 46 $ 6,786 As of March 31, 2023 The following tables present the balance in the ACL and loans receivable by class of loans based on evaluation method. Allocation of a portion of the ACL to one not One-to-four family residential real estate Multi-family mortgage Nonresidential real estate Commercial loans and leases Consumer Total March 31, 2023 Loans: Loans individually evaluated $ 89 $ 148 $ — $ 8,848 $ — $ 9,085 Loans collectively evaluated 21,386 544,525 123,360 535,368 1,596 1,226,235 $ 21,475 $ 544,673 $ 123,360 $ 544,216 $ 1,596 $ 1,235,320 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 354 4,714 1,347 3,576 41 10,032 $ 354 $ 4,714 $ 1,347 $ 3,576 $ 41 $ 10,032 One-to-four family residential real estate Multi-family mortgage Nonresidential real estate Commercial loans and leases Consumer Total December 31, 2022 Loans: Loans individually evaluated $ 752 $ 473 $ — $ 1,487 $ — $ 2,712 Loans collectively evaluated 22,381 536,921 119,705 551,569 1,584 1,232,160 $ 23,133 $ 537,394 $ 119,705 $ 553,056 $ 1,584 $ 1,234,872 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 281 4,017 1,234 2,548 49 8,129 $ 281 $ 4,017 $ 1,234 $ 2,548 $ 49 $ 8,129 Individually Evaluated Loans The following tables present loans individually evaluated by class of loans: Three Months Ended March 31, 2023 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized March 31, 2023 With no related allowance recorded: One-to-four family residential real estate $ 87 $ 89 $ — $ — $ 78 $ 2 Multi-family mortgage 133 148 — — 49 — Commercial loans and leases 8,958 8,848 50 — 3,714 — $ 9,178 $ 9,085 $ 50 $ — $ 3,841 $ 2 Year ended December 31, 2022 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized December 31, 2022 With no related allowance recorded: One-to-four family residential real estate $ 752 $ 752 $ — $ — $ 1,143 $ 29 Multi-family mortgage 473 473 — — 590 27 Commercial loans and leases 1,606 1,487 49 — 445 47 $ 2,831 $ 2,712 $ 49 $ — $ 2,178 $ 103 Nonaccrual Loans The following tables present the recorded investment in nonaccrual loans and loans 90 Nonaccrual Loans Past Due Over 90 Days Still Accruing March 31, 2023 One-to-four family residential real estate $ 55 $ — Commercial loans and leases 8,807 — $ 8,862 $ — December 31, 2022 One-to-four family residential real estate $ 92 $ — Commercial loans and leases 1,310 238 Consumer 5 — $ 1,407 $ 238 Nonaccrual loans and individually evaluated loans are defined differently. Some loans may may one The Company’s reserve for uncollected loan interest was $241,000 and $38,000 at March 31, 2023 December 31, 2022 Past Due Loans The following tables present the aging of the recorded investment of loans by portfolio segment: 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total March 31, 2023 One-to-four family residential real estate loans $ 496 $ 16 $ — $ 512 $ 55 $ 20,908 $ 21,475 Multi-family mortgage: Senior notes 786 148 — 934 — 500,517 501,451 Junior notes 362 185 — 547 — 42,675 43,222 Nonresidential real estate: Owner occupied — — — — — 22,264 22,264 Non-owner occupied — — — — — 101,096 101,096 Commercial loans and leases: Commercial 5,106 1,139 — 6,245 384 278,775 285,404 Equipment finance - Government 6,421 423 — 6,844 8,420 187,672 202,936 Equipment finance - Corporate Investment-grade 794 — — 794 3 55,079 55,876 Consumer 6 5 — 11 — 1,585 1,596 $ 13,971 $ 1,916 $ — $ 15,887 $ 8,862 $ 1,210,571 $ 1,235,320 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total December 31, 2022 One-to-four family residential real estate loans $ 411 $ 19 $ — $ 430 $ 92 $ 22,611 $ 23,133 Multi-family mortgage: Senior notes 31 — — 31 — 494,957 494,988 Junior notes — — — — — 42,406 42,406 Nonresidential real estate: Owner occupied — — — — — 22,617 22,617 Non-owner occupied — — — — — 97,088 97,088 Commercial loans and leases: Commercial 2,424 336 111 2,871 1,310 279,272 283,453 Equipment finance - Government 2,034 5,106 — 7,140 — 204,443 211,583 Equipment finance - Corporate Investment-grade — 81 127 208 — 57,812 58,020 Consumer 12 4 — 16 5 1,563 1,584 $ 4,912 $ 5,546 $ 238 $ 10,696 $ 1,407 $ 1,222,769 $ 1,234,872 At March 31, 2023 2022 02 “Financial Instruments—Credit Losses (Topic 326 At December 31, 2022 not 4013 2020 35 340 10 340 10, no December 31, 2022. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Risk ratings are updated any time the situation warrants. The Company uses the following definitions for risk ratings: Pass. Watch. not Special Mention. may not not Substandard. may not not Nonaccrual. one Based on the most recent analysis performed, the risk categories of loans by class of loans are as follows: Pass Watch Special Mention Substandard Substandard Nonaccrual Total March 31, 2023 One-to-four family residential real estate $ 21,080 $ 44 $ 16 $ 280 $ 55 $ 21,475 Multi-family mortgage 541,885 2,640 — 148 — 544,673 Nonresidential real estate 120,351 3,009 — — — 123,360 Commercial loans and leases 505,882 14,283 11,398 3,846 8,807 544,216 Consumer 1,581 5 5 5 — 1,596 $ 1,190,779 $ 19,981 $ 11,419 $ 4,279 $ 8,862 $ 1,235,320 Pass Watch Special Mention Substandard Substandard Nonaccrual Total December 31, 2022 One-to-four family residential real estate $ 22,648 $ 62 $ 4 $ 327 $ 92 $ 23,133 Multi-family mortgage 534,253 3,141 — — — 537,394 Nonresidential real estate 116,635 3,070 — — — 119,705 Commercial loans and leases 523,889 22,299 1,517 4,041 1,310 553,056 Consumer 1,559 12 4 4 5 1,584 $ 1,198,984 $ 28,584 $ 1,525 $ 4,372 $ 1,407 $ 1,234,872 Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving loans Total March 31, 2023 One-to-four family residential real estate loans: Risk-rating Pass $ — $ 151 $ — $ 200 $ — $ 16,109 $ 4,620 $ 21,080 Watch — — — — — 44 — 44 Special mention — — — — — 16 — 16 Substandard — — — — — 128 152 280 Nonaccrual — — — — — 26 29 55 $ — $ 151 $ — $ 200 $ — $ 16,323 $ 4,801 $ 21,475 One-to-four family residential real estate loans: Current period recoveries $ — $ — $ — $ — $ — $ 5 $ — $ 5 $ — $ — $ — $ — $ — $ 5 $ — $ 5 Multi-family mortgage: Risk rating Pass $ 20,500 $ 217,091 $ 125,506 $ 63,839 $ 23,907 $ 82,363 $ 8,679 $ 541,885 Watch — — — — — 2,640 — 2,640 Substandard — — — — — 148 — 148 $ 20,500 $ 217,091 $ 125,506 $ 63,839 $ 23,907 $ 85,151 $ 8,679 $ 544,673 Multi-family mortgage: Current period recoveries $ — $ — $ — $ — $ — $ 5 $ — $ 5 $ — $ — $ — $ — $ — $ 5 $ — $ 5 Nonresidential real estate: Risk rating Pass $ 8,759 $ 54,580 $ 22,232 $ 8,660 $ 10,171 $ 15,695 $ 254 $ 120,351 Watch — 1,030 1,632 — — 347 — 3,009 $ 8,759 $ 55,610 $ 23,864 $ 8,660 $ 10,171 $ 16,042 $ 254 $ 123,360 Commercial loans and leases : Risk rating Pass $ 23,848 $ 213,313 $ 102,419 $ 65,130 $ 9,314 $ 5,771 $ 86,087 $ 505,882 Watch 393 121 43 1,648 33 65 11,980 14,283 Special mention — 11,050 — — — — 348 11,398 Substandard — — — 40 58 — 3,748 3,846 Nonaccrual — 8,494 4 306 3 — — 8,807 $ 24,241 $ 232,978 $ 102,466 $ 67,124 $ 9,408 $ 5,836 $ 102,163 $ 544,216 Commercial loans and leases : Current period gross charge-offs $ — $ (79 ) $ — $ — $ — $ — $ — $ (79 ) Current period recoveries — — — — — 1 — 1 $ — $ (79 ) $ — $ — $ — $ 1 $ — $ (78 ) Consumer: Risk rating Pass $ 84 $ 134 $ 247 $ 160 $ 335 $ 5 $ 616 $ 1,581 Watch — — — — — — 5 5 Special mention — — — — — — 5 5 Substandard — — — — — — 5 5 $ 84 $ 134 $ 247 $ 160 $ 335 $ 5 $ 631 $ 1,596 Consumer: Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ (22 ) $ (22 ) Current period recoveries — — — — — — 1 1 $ — $ — $ — $ — $ — $ — $ (21 ) $ (21 ) |
Note 5 - Foreclosed Assets
Note 5 - Foreclosed Assets | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Foreclosed Assets [Text Block] | NOTE 5 Real estate that is acquired through foreclosure or a deed in lieu of foreclosure is classified as other real estate owned ("OREO") until it is sold. When real estate is acquired through foreclosure or by deed in lieu of foreclosure, it is recorded at its fair value, less the estimated costs of disposal. If the fair value of the property is less than the loan balance, the difference is charged against the allowance for credit losses. Assets are classified as foreclosed when physical possession of the collateral is taken regardless of whether foreclosure proceedings have taken place. Other foreclosed assets received in satisfaction of borrowers’ debts are initially recorded at fair value of the asset less estimated costs to sell. March 31, 2023 December 31, 2022 Balance Valuation Allowance Net Balance Balance Valuation Allowance Net Balance Other real estate owned $ 472 $ — $ 472 $ 472 $ — $ 472 Other foreclosed assets 921 — 921 4 — 4 $ 1,393 $ — $ 1,393 $ 476 $ — $ 476 The following represents the roll forward of foreclosed assets: For the Three Months Ended March 31, 2023 2022 Beginning balance $ 476 $ 725 New foreclosed assets 921 274 Valuation reductions from sales — 8 Sales (4 ) (39 ) Ending balance $ 1,393 $ 968 Activity in the valuation allowance is as follows: For the Three Months Ended March 31, 2023 2022 Beginning balance $ — $ 227 Reductions from sales — (8 ) Ending balance $ — $ 219 The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $5,000 at March 31, 2023 were in process at December 31, 2022 March 31, 2023 March 31, 2023 no |
Note 6 - Borrowings and Subordi
Note 6 - Borrowings and Subordinated Notes | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 6 Borrowings and subordinated notes were as follows: March 31, 2023 December 31, 2022 Contractual Contractual Rate Amount Rate Amount Fixed-rate advance from FHLB, due April 7, 2023 4.88 % $ 10,000 — % $ — Fixed-rate advance from FHLB, due September 16, 2024 4.55 % 5,000 — % — Fixed-rate advance from FHLB, due March 17, 2025 4.27 % 5,000 — % — Fixed-rate advance from FHLB, due September 17, 2025 4.20 % 5,000 — % — Fixed-rate advance from FHLB, due March 17, 2026 4.15 % 5,000 Fixed-rate advance from FHLB, due September 17, 2026 4.06 % 5,000 — % — Subordinated notes, due May 15, 2031 3.75 % 19,645 3.75 % 19,634 Line of credit, due March 29, 2024 7.50 % — 6.75 % — In 2021, May 15, 2031 ( March 31, 2023 December 31, 2022 The Notes bear interest at a fixed annual rate of 3.75%, from and including the date of issuance to May 14, 2026, May 15, 2026 may May 15, 2031 May 15, 2026, Principal and interest payments due on the Notes are subject to acceleration only in limited circumstances in the case of certain bankruptcy and insolvency-related events with respect to the Company. The Notes are unsecured, subordinated obligations of the Company and generally rank junior in right of payment to the Company’s current and future senior indebtedness. The Notes qualify as Tier 2 In 2020, any established a $5.0 million unsecured line of credit with a correspondent bank. Interest is payable at a rate of Prime Rate as published in the Wall Street Journal minus 0.50%, with a minimum rate of 2.40%. The line of credit has been extended since its original maturity date and the current maturity date is March 29, 2024. March 31, 2023 December 31, 2022 |
Note 7 - Fair Value
Note 7 - Fair Value | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 7– Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may • Level 1 • Level 2 1 not • Level 3 The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Securities 1 2 Loans Evaluated Individually: not not 3. Foreclosed assets: no may The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value March 31, 2023 Securities: Certificates of deposit $ — $ 2,977 $ — $ 2,977 Municipal securities — 227 — 227 U.S. Treasury Notes 122,365 — — 122,365 U.S. government-sponsored agencies — 39,739 — 39,739 Mortgage-backed securities – residential — 3,781 — 3,781 Collateralized mortgage obligations – residential — 1,150 — 1,150 $ 122,365 $ 47,874 $ — $ 170,239 December 31, 2022 Securities: Certificates of deposit $ — $ 2,233 $ — $ 2,233 Municipal securities — 225 — 225 U.S. Treasury Notes 163,103 — — 163,103 U.S. government-sponsored agencies — 39,699 — 39,699 Mortgage-backed securities – residential — 3,881 — 3,881 Collateralized mortgage obligations – residential — 1,197 — 1,197 $ 163,103 $ 47,235 $ — $ 210,338 At March 31, 2023 December 31, 2022 no Foreclosed assets are carried at the lower of cost or fair value less costs to sell. At March 31, 2023 and December 31, 2022 there were no valuation allowances. In January 2023, The carrying amount and estimated fair value of financial instruments are as follows: Fair Value Measurements at March 31, 2023 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 77,005 $ 76,432 $ 573 $ — $ 77,005 Securities 170,239 122,365 47,874 — 170,239 Loans receivable, net of allowance for credit losses 1,225,288 — — 1,185,493 1,185,493 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 8,316 304 477 7,535 8,316 Financial liabilities Certificates of deposit 193,365 — 189,910 — 189,910 Borrowings 35,000 — 35,088 — 35,088 Subordinated notes 19,645 — 17,000 — 17,000 Fair Value Measurements at December 31, 2022 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 66,771 $ 65,967 $ 804 $ — $ 66,771 Securities 210,338 163,103 47,235 — 210,338 Loans receivable, net of allowance for credit losses 1,226,743 — — 1,198,616 1,198,616 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 7,338 514 477 6,347 7,338 Financial liabilities Certificates of deposit 186,524 — 182,398 — 182,398 Subordinated notes 19,634 — 17,800 — 17,800 Loans third may not While the above estimates are based on management’s judgment of the most appropriate factors, as of the balance sheet date, there is no may not In addition, other assets and liabilities that are not not |
Note 8 - Revenue From Contracts
Note 8 - Revenue From Contracts With Customers | 3 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 8 All of the Company's revenue from contracts with customers within the scope of ASC 606 606 Three Months Ended March 31, 2023 2022 Deposit service charges and fees $ 816 $ 781 Loan servicing fees (1) 129 101 Trust and insurance commissions and annuities income 367 338 (Loss) earnings on bank-owned life insurance (1) (84 ) 28 Losses on sales of securities (1) (454 ) — Valuation adjustment on bank premises held-for-sale (1) (553 ) — Other (1) 92 196 Total noninterest income $ 313 $ 1,444 ( 1 Not 606 A description of the Company's revenue streams accounted for under ASC 606 Deposit service charges and fees: Interchange income: three March 31, 2023 2022 Trust and insurance commissions and annuities income: i.e Gains/losses on sales of foreclosed assets and other assets: for the three March 31, 2023 2022 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation three March 31, 2023 not may December 31, 2023 Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Loans and Loan Income [Policy Text Block] | Factored Receivables: 4 may third March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Factoring fees are recognized in interest income as incurred by the customer and deducted from the customer's reserve balances. Other factoring-related fees, which include wire transfer fees, broker fees, and other similar fees, are reported by the Company as loan servicing fees in noninterest income. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses: January 1, 2023, 326” No. 2016 13, Financial Instruments Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 326 326 326 The Company adopted ASC 326 January 1, 2023 326 January 1, 2023 Post ASC 326 Adoption Pre-ASC 326 Adoption Pre-tax impact of ASC 326 Adoption Assets: Allowance One-to-four family residential real estate $ 380 $ 281 $ 99 Multi-family mortgage 4,647 4,017 630 Nonresidential real estate 1,300 1,234 66 Commercial loans and leases 3,670 2,548 1,122 Consumer 39 49 (10) Total allowance for credit losses $ 10,036 $ 8,129 $ 1,907 Liabilities: Unfunded commitment reserve $ 417 $ — $ 417 The allowance for credit losses (“ACL”) is evaluated on a regular basis and established through charges to earnings in the form of a provision for credit losses. When a loan or portion of a loan is determined to be uncollectible, the portion deemed uncollectible is charged against the allowance and subsequent recoveries, if any, are credited to the allowance. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. a. Portfolio Segmentation ( Pooled Loans ) Portfolio segmentation is defined as the pooling of loans based upon similar risk characteristics such that quantitative methodologies and qualitative adjustment factors for estimating the allowance for credit losses is constructed for each segment. The allowance for credit losses for Pooled Loans estimate is based upon periodic review of the collectability of the loans quantitatively correlating historical loan experience with reasonable and supportable forecasts using forward looking information. Adjustments to the quantitative evaluation may b. Individually Evaluated Loans The Company establishes a specific loss reserve for individually evaluated loans which do not c. Accrued Interest Receivable Upon adoption of ASC 326 January 1, 2023, ● Presenting accrued interest receivable balances separately within another line item on the Consolidated Statements of Financial Condition. ● Continuing our policy to fully reserve accrued interest receivable by reversing interest income. For commercial loans, the reserve is established upon becoming 90 120 not ● Not d. Reserve for Unfunded Commitments The reserve for unfunded commitments (the “Unfunded Commitment Reserve”) represents the expected credit losses on off-balance sheet commitments such as unfunded commitments to extend credit and standby letters of credit. However, a liability is not |
Troubled Debt Restructuring and Vintage Disclosures [Policy Text Block] | Troubled Debt Restructurings and Vintage Disclosures: 2022 02 “Financial Instruments—Credit Losses (Topic 326 326. 310 20 January 1, 2023. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2022 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | January 1, 2023 Post ASC 326 Adoption Pre-ASC 326 Adoption Pre-tax impact of ASC 326 Adoption Assets: Allowance One-to-four family residential real estate $ 380 $ 281 $ 99 Multi-family mortgage 4,647 4,017 630 Nonresidential real estate 1,300 1,234 66 Commercial loans and leases 3,670 2,548 1,122 Consumer 39 49 (10) Total allowance for credit losses $ 10,036 $ 8,129 $ 1,907 Liabilities: Unfunded commitment reserve $ 417 $ — $ 417 |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2023 2022 Net income available to common stockholders $ 2,633 $ 1,268 Basic and diluted weighted average common shares outstanding 12,721,841 13,204,041 Basic and diluted earnings per common share $ 0.21 $ 0.10 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale Securities March 31, 2023 Certificates of deposit $ 2,977 $ — $ — $ 2,977 Municipal securities 240 — (13 ) 227 U.S. Treasury Notes 128,137 — (5,772 ) 122,365 U.S. government-sponsored agencies 40,000 — (261 ) 39,739 Mortgage-backed securities - residential 3,880 25 (124 ) 3,781 Collateralized mortgage obligations - residential 1,171 — (21 ) 1,150 $ 176,405 $ 25 $ (6,191 ) $ 170,239 December 31, 2022 Certificates of deposit $ 2,233 $ — $ — $ 2,233 Municipal securities 240 — (15 ) 225 U.S. Treasury Notes 170,906 — (7,803 ) 163,103 U.S. government-sponsored agencies 40,000 — (301 ) 39,699 Mortgage-backed securities - residential 3,997 27 (143 ) 3,881 Collateralized mortgage obligations - residential 1,223 — (26 ) 1,197 $ 218,599 $ 27 $ (8,288 ) $ 210,338 |
Investments Classified by Contractual Maturity Date [Table Text Block] | March 31, 2023 Amortized Cost Fair Value Due in one year or less $ 63,028 $ 61,858 Due after one year through five years 108,326 103,450 171,354 165,308 Mortgage-backed securities - residential 3,880 3,781 Collateralized mortgage obligations - residential 1,171 1,150 $ 176,405 $ 170,239 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss March 31, 2023 Municipal securities — $ — $ — 1 $ 227 $ (13 ) 1 $ 227 $ (13 ) U.S. Treasury Notes 2 4,170 (53 ) 179 118,195 (5,719 ) 181 122,365 (5,772 ) U.S. government-sponsored agencies 9 39,739 (261 ) — — — 9 39,739 (261 ) Mortgage-backed securities - residential 14 2,414 (78 ) 2 539 (46 ) 16 2,953 (124 ) Collateralized mortgage obligations - residential 4 256 (4 ) 4 894 (17 ) 8 1,150 (21 ) 29 $ 46,579 $ (396 ) 186 $ 119,855 $ (5,795 ) 215 $ 166,434 $ (6,191 ) December 31, 2022 Municipal securities 1 $ 225 $ (15 ) — $ — $ — 1 $ 225 $ (15 ) U.S. Treasury Notes 147 104,439 (4,104 ) 53 58,664 (3,699 ) 200 163,103 (7,803 ) U.S. government-sponsored agencies 9 39,699 (301 ) — — — 9 39,699 (301 ) Mortgage-backed securities - residential 18 3,016 (143 ) — — — 18 3,016 (143 ) Collateralized mortgage obligations - residential 5 1,009 (18 ) 1 171 (8 ) 6 1,180 (26 ) 180 $ 148,388 $ (4,581 ) 54 $ 58,835 $ (3,707 ) 234 $ 207,223 $ (8,288 ) |
Gain (Loss) on Securities [Table Text Block] | Three Months Ended March 31, 2023 2022 Proceeds $ 42,631 $ — Gross gains — — Gross losses (454 ) — |
Note 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2023 December 31, 2022 One-to-four family residential real estate $ 21,475 $ 23,133 Multi-family mortgage 544,673 537,394 Nonresidential real estate 123,360 119,705 Commercial loans and leases 544,216 553,056 Consumer 1,596 1,584 1,235,320 1,234,872 Allowance for credit losses (10,032 ) (8,129 ) Loans, net $ 1,225,288 $ 1,226,743 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | One-to-four family residential real estate Multi-family mortgage Nonresidential real estate Commercial loans and leases Consumer Total For the three months ended March 31, 2023 Beginning balance, prior to adoption of ASC 326 $ 281 $ 4,017 $ 1,234 $ 2,548 $ 49 $ 8,129 Impact of adopting ASC 326 99 630 66 1,122 (10 ) 1,907 Beginning balance, after adoption of ASC 326 380 4,647 1,300 3,670 39 10,036 Provision for (recovery of) credit losses (31 ) 62 47 (16 ) 23 85 Loans charged off — — — (79 ) (22 ) (101 ) Recoveries 5 5 — 1 1 12 $ 354 $ 4,714 $ 1,347 $ 3,576 $ 41 $ 10,032 March 31, 2022 Beginning balance $ 331 $ 3,377 $ 1,311 $ 1,652 $ 44 $ 6,715 Provision for (recovery of) credit losses (14 ) 8 (162 ) 425 19 276 Loans charged off (4 ) — (192 ) — (18 ) (214 ) Recoveries 2 5 — 1 1 9 $ 315 $ 3,390 $ 957 $ 2,078 $ 46 $ 6,786 |
Financing Receivable and Allowance for Loan Losses Based on Impairment Method [Table Text Block] | One-to-four family residential real estate Multi-family mortgage Nonresidential real estate Commercial loans and leases Consumer Total March 31, 2023 Loans: Loans individually evaluated $ 89 $ 148 $ — $ 8,848 $ — $ 9,085 Loans collectively evaluated 21,386 544,525 123,360 535,368 1,596 1,226,235 $ 21,475 $ 544,673 $ 123,360 $ 544,216 $ 1,596 $ 1,235,320 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 354 4,714 1,347 3,576 41 10,032 $ 354 $ 4,714 $ 1,347 $ 3,576 $ 41 $ 10,032 One-to-four family residential real estate Multi-family mortgage Nonresidential real estate Commercial loans and leases Consumer Total December 31, 2022 Loans: Loans individually evaluated $ 752 $ 473 $ — $ 1,487 $ — $ 2,712 Loans collectively evaluated 22,381 536,921 119,705 551,569 1,584 1,232,160 $ 23,133 $ 537,394 $ 119,705 $ 553,056 $ 1,584 $ 1,234,872 ACL: Loans individually evaluated $ — $ — $ — $ — $ — $ — Loans collectively evaluated 281 4,017 1,234 2,548 49 8,129 $ 281 $ 4,017 $ 1,234 $ 2,548 $ 49 $ 8,129 |
Impaired Financing Receivables [Table Text Block] | Three Months Ended March 31, 2023 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized March 31, 2023 With no related allowance recorded: One-to-four family residential real estate $ 87 $ 89 $ — $ — $ 78 $ 2 Multi-family mortgage 133 148 — — 49 — Commercial loans and leases 8,958 8,848 50 — 3,714 — $ 9,178 $ 9,085 $ 50 $ — $ 3,841 $ 2 Year ended December 31, 2022 Loan Balance Recorded Investment Partial Charge-off Allowance for Credit Losses Allocated Average Investment Interest Income Recognized December 31, 2022 With no related allowance recorded: One-to-four family residential real estate $ 752 $ 752 $ — $ — $ 1,143 $ 29 Multi-family mortgage 473 473 — — 590 27 Commercial loans and leases 1,606 1,487 49 — 445 47 $ 2,831 $ 2,712 $ 49 $ — $ 2,178 $ 103 |
Financing Receivable, Nonaccrual [Table Text Block] | Nonaccrual Loans Past Due Over 90 Days Still Accruing March 31, 2023 One-to-four family residential real estate $ 55 $ — Commercial loans and leases 8,807 — $ 8,862 $ — December 31, 2022 One-to-four family residential real estate $ 92 $ — Commercial loans and leases 1,310 238 Consumer 5 — $ 1,407 $ 238 |
Financing Receivable, Past Due [Table Text Block] | 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total March 31, 2023 One-to-four family residential real estate loans $ 496 $ 16 $ — $ 512 $ 55 $ 20,908 $ 21,475 Multi-family mortgage: Senior notes 786 148 — 934 — 500,517 501,451 Junior notes 362 185 — 547 — 42,675 43,222 Nonresidential real estate: Owner occupied — — — — — 22,264 22,264 Non-owner occupied — — — — — 101,096 101,096 Commercial loans and leases: Commercial 5,106 1,139 — 6,245 384 278,775 285,404 Equipment finance - Government 6,421 423 — 6,844 8,420 187,672 202,936 Equipment finance - Corporate Investment-grade 794 — — 794 3 55,079 55,876 Consumer 6 5 — 11 — 1,585 1,596 $ 13,971 $ 1,916 $ — $ 15,887 $ 8,862 $ 1,210,571 $ 1,235,320 30-59 Days Past Due 60-89 Days Past Due Greater Than 89 Days Past Due Total Past Due Nonaccrual Current Total December 31, 2022 One-to-four family residential real estate loans $ 411 $ 19 $ — $ 430 $ 92 $ 22,611 $ 23,133 Multi-family mortgage: Senior notes 31 — — 31 — 494,957 494,988 Junior notes — — — — — 42,406 42,406 Nonresidential real estate: Owner occupied — — — — — 22,617 22,617 Non-owner occupied — — — — — 97,088 97,088 Commercial loans and leases: Commercial 2,424 336 111 2,871 1,310 279,272 283,453 Equipment finance - Government 2,034 5,106 — 7,140 — 204,443 211,583 Equipment finance - Corporate Investment-grade — 81 127 208 — 57,812 58,020 Consumer 12 4 — 16 5 1,563 1,584 $ 4,912 $ 5,546 $ 238 $ 10,696 $ 1,407 $ 1,222,769 $ 1,234,872 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Watch Special Mention Substandard Substandard Nonaccrual Total March 31, 2023 One-to-four family residential real estate $ 21,080 $ 44 $ 16 $ 280 $ 55 $ 21,475 Multi-family mortgage 541,885 2,640 — 148 — 544,673 Nonresidential real estate 120,351 3,009 — — — 123,360 Commercial loans and leases 505,882 14,283 11,398 3,846 8,807 544,216 Consumer 1,581 5 5 5 — 1,596 $ 1,190,779 $ 19,981 $ 11,419 $ 4,279 $ 8,862 $ 1,235,320 Pass Watch Special Mention Substandard Substandard Nonaccrual Total December 31, 2022 One-to-four family residential real estate $ 22,648 $ 62 $ 4 $ 327 $ 92 $ 23,133 Multi-family mortgage 534,253 3,141 — — — 537,394 Nonresidential real estate 116,635 3,070 — — — 119,705 Commercial loans and leases 523,889 22,299 1,517 4,041 1,310 553,056 Consumer 1,559 12 4 4 5 1,584 $ 1,198,984 $ 28,584 $ 1,525 $ 4,372 $ 1,407 $ 1,234,872 Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving loans Total March 31, 2023 One-to-four family residential real estate loans: Risk-rating Pass $ — $ 151 $ — $ 200 $ — $ 16,109 $ 4,620 $ 21,080 Watch — — — — — 44 — 44 Special mention — — — — — 16 — 16 Substandard — — — — — 128 152 280 Nonaccrual — — — — — 26 29 55 $ — $ 151 $ — $ 200 $ — $ 16,323 $ 4,801 $ 21,475 One-to-four family residential real estate loans: Current period recoveries $ — $ — $ — $ — $ — $ 5 $ — $ 5 $ — $ — $ — $ — $ — $ 5 $ — $ 5 Multi-family mortgage: Risk rating Pass $ 20,500 $ 217,091 $ 125,506 $ 63,839 $ 23,907 $ 82,363 $ 8,679 $ 541,885 Watch — — — — — 2,640 — 2,640 Substandard — — — — — 148 — 148 $ 20,500 $ 217,091 $ 125,506 $ 63,839 $ 23,907 $ 85,151 $ 8,679 $ 544,673 Multi-family mortgage: Current period recoveries $ — $ — $ — $ — $ — $ 5 $ — $ 5 $ — $ — $ — $ — $ — $ 5 $ — $ 5 Nonresidential real estate: Risk rating Pass $ 8,759 $ 54,580 $ 22,232 $ 8,660 $ 10,171 $ 15,695 $ 254 $ 120,351 Watch — 1,030 1,632 — — 347 — 3,009 $ 8,759 $ 55,610 $ 23,864 $ 8,660 $ 10,171 $ 16,042 $ 254 $ 123,360 Commercial loans and leases : Risk rating Pass $ 23,848 $ 213,313 $ 102,419 $ 65,130 $ 9,314 $ 5,771 $ 86,087 $ 505,882 Watch 393 121 43 1,648 33 65 11,980 14,283 Special mention — 11,050 — — — — 348 11,398 Substandard — — — 40 58 — 3,748 3,846 Nonaccrual — 8,494 4 306 3 — — 8,807 $ 24,241 $ 232,978 $ 102,466 $ 67,124 $ 9,408 $ 5,836 $ 102,163 $ 544,216 Commercial loans and leases : Current period gross charge-offs $ — $ (79 ) $ — $ — $ — $ — $ — $ (79 ) Current period recoveries — — — — — 1 — 1 $ — $ (79 ) $ — $ — $ — $ 1 $ — $ (78 ) Consumer: Risk rating Pass $ 84 $ 134 $ 247 $ 160 $ 335 $ 5 $ 616 $ 1,581 Watch — — — — — — 5 5 Special mention — — — — — — 5 5 Substandard — — — — — — 5 5 $ 84 $ 134 $ 247 $ 160 $ 335 $ 5 $ 631 $ 1,596 Consumer: Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ (22 ) $ (22 ) Current period recoveries — — — — — — 1 1 $ — $ — $ — $ — $ — $ — $ (21 ) $ (21 ) |
Note 5 - Foreclosed Assets (Tab
Note 5 - Foreclosed Assets (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Other Real Estate Owned and Other Foreclosed Assets [Table Text Block] | March 31, 2023 December 31, 2022 Balance Valuation Allowance Net Balance Balance Valuation Allowance Net Balance Other real estate owned $ 472 $ — $ 472 $ 472 $ — $ 472 Other foreclosed assets 921 — 921 4 — 4 $ 1,393 $ — $ 1,393 $ 476 $ — $ 476 |
Roll Forward of Foreclosed Assets [Table Text Block] | For the Three Months Ended March 31, 2023 2022 Beginning balance $ 476 $ 725 New foreclosed assets 921 274 Valuation reductions from sales — 8 Sales (4 ) (39 ) Ending balance $ 1,393 $ 968 |
Foreclosed Assets, Valuation Allowance [Table Text Block] | For the Three Months Ended March 31, 2023 2022 Beginning balance $ — $ 227 Reductions from sales — (8 ) Ending balance $ — $ 219 |
Note 6 - Borrowings and Subor_2
Note 6 - Borrowings and Subordinated Notes (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Federal Home Loan Bank, Advances [Table Text Block] | March 31, 2023 December 31, 2022 Contractual Contractual Rate Amount Rate Amount Fixed-rate advance from FHLB, due April 7, 2023 4.88 % $ 10,000 — % $ — Fixed-rate advance from FHLB, due September 16, 2024 4.55 % 5,000 — % — Fixed-rate advance from FHLB, due March 17, 2025 4.27 % 5,000 — % — Fixed-rate advance from FHLB, due September 17, 2025 4.20 % 5,000 — % — Fixed-rate advance from FHLB, due March 17, 2026 4.15 % 5,000 Fixed-rate advance from FHLB, due September 17, 2026 4.06 % 5,000 — % — Subordinated notes, due May 15, 2031 3.75 % 19,645 3.75 % 19,634 Line of credit, due March 29, 2024 7.50 % — 6.75 % — |
Note 7 - Fair Value (Tables)
Note 7 - Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value March 31, 2023 Securities: Certificates of deposit $ — $ 2,977 $ — $ 2,977 Municipal securities — 227 — 227 U.S. Treasury Notes 122,365 — — 122,365 U.S. government-sponsored agencies — 39,739 — 39,739 Mortgage-backed securities – residential — 3,781 — 3,781 Collateralized mortgage obligations – residential — 1,150 — 1,150 $ 122,365 $ 47,874 $ — $ 170,239 December 31, 2022 Securities: Certificates of deposit $ — $ 2,233 $ — $ 2,233 Municipal securities — 225 — 225 U.S. Treasury Notes 163,103 — — 163,103 U.S. government-sponsored agencies — 39,699 — 39,699 Mortgage-backed securities – residential — 3,881 — 3,881 Collateralized mortgage obligations – residential — 1,197 — 1,197 $ 163,103 $ 47,235 $ — $ 210,338 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at March 31, 2023 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 77,005 $ 76,432 $ 573 $ — $ 77,005 Securities 170,239 122,365 47,874 — 170,239 Loans receivable, net of allowance for credit losses 1,225,288 — — 1,185,493 1,185,493 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 8,316 304 477 7,535 8,316 Financial liabilities Certificates of deposit 193,365 — 189,910 — 189,910 Borrowings 35,000 — 35,088 — 35,088 Subordinated notes 19,645 — 17,000 — 17,000 Fair Value Measurements at December 31, 2022 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 66,771 $ 65,967 $ 804 $ — $ 66,771 Securities 210,338 163,103 47,235 — 210,338 Loans receivable, net of allowance for credit losses 1,226,743 — — 1,198,616 1,198,616 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 7,338 514 477 6,347 7,338 Financial liabilities Certificates of deposit 186,524 — 182,398 — 182,398 Subordinated notes 19,634 — 17,800 — 17,800 |
Note 8 - Revenue From Contrac_2
Note 8 - Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2023 2022 Deposit service charges and fees $ 816 $ 781 Loan servicing fees (1) 129 101 Trust and insurance commissions and annuities income 367 338 (Loss) earnings on bank-owned life insurance (1) (84 ) 28 Losses on sales of securities (1) (454 ) — Valuation adjustment on bank premises held-for-sale (1) (553 ) — Other (1) 92 196 Total noninterest income $ 313 $ 1,444 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Mar. 31, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Factored Receivable Unpaid Principal Balance | $ 7,700,000 | $ 7,000,000 | |||
Factored Receivable, Customer Reserves | 1,700,000 | 1,400,000 | |||
Retained Earnings (Accumulated Deficit) | 71,449,000 | 71,808,000 | |||
Financing Receivable, Allowance for Credit Loss | $ 10,032,000 | 8,129,000 | $ 6,786,000 | $ 6,715,000 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Off-Balance-Sheet, Credit Loss, Liability | $ 417,000 | ||||
Accounting Standards Update 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Loss | 8,129,000 | 8,129,000 | |||
Off-Balance-Sheet, Credit Loss, Liability | 0 | ||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Retained Earnings (Accumulated Deficit) | (1,700,000) | ||||
Financing Receivable, Allowance for Credit Loss | 1,907,000 | $ 1,907,000 | |||
Off-Balance-Sheet, Credit Loss, Liability | 417,000 | ||||
Deferred Tax Assets, Gross | $ 604,000 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Summary of Adoption of New Accounting Standards (Details) - USD ($) | Mar. 31, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Allowance for loan losses | $ 10,032,000 | $ 8,129,000 | $ 6,786,000 | $ 6,715,000 | |
Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses | 3,576,000 | 2,548,000 | 2,078,000 | 1,652,000 | |
Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses | 41,000 | 49,000 | 46,000 | 44,000 | |
One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 354,000 | 281,000 | 315,000 | 331,000 | |
Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 4,714,000 | 4,017,000 | 3,390,000 | 3,377,000 | |
Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | $ 1,347,000 | 1,234,000 | $ 957,000 | $ 1,311,000 | |
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||||
Unfunded commitment reserve | $ 417,000 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Unfunded commitment reserve | 417,000 | ||||
Accounting Standards Update 2016-13 [Member] | |||||
Allowance for loan losses | 8,129,000 | 8,129,000 | |||
Unfunded commitment reserve | 0 | ||||
Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses | 2,548,000 | 2,548,000 | |||
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses | 49,000 | 49,000 | |||
Accounting Standards Update 2016-13 [Member] | One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 281,000 | 281,000 | |||
Accounting Standards Update 2016-13 [Member] | Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 4,017,000 | 4,017,000 | |||
Accounting Standards Update 2016-13 [Member] | Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 1,234,000 | 1,234,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||||
Allowance for loan losses | 10,036,000 | 10,036,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses | 3,670,000 | 3,670,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses | 39,000 | 39,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 380,000 | 380,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 4,647,000 | 4,647,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 1,300,000 | 1,300,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||
Allowance for loan losses | 1,907,000 | 1,907,000 | |||
Unfunded commitment reserve | 417,000 | ||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses | 1,122,000 | 1,122,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses | (10,000) | (10,000) | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 99,000 | 99,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | 630,000 | 630,000 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | |||||
Allowance for loan losses | $ 66,000 | $ 66,000 |
Note 2 - Earnings Per Share - E
Note 2 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net income available to common stockholders | $ 2,633 | $ 1,268 |
Basic and diluted weighted average common shares outstanding (in shares) | 12,721,841 | 13,204,041 |
Basic and diluted earnings per common share (in dollars per share) | $ 0.21 | $ 0.10 |
Note 3 - Securities - Fair Valu
Note 3 - Securities - Fair Value of Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Amortized cost | $ 176,405 | $ 218,599 |
Gross unrealized gains | 25 | 27 |
Gross unrealized losses | (6,191) | (8,288) |
Fair value | 170,239 | 210,338 |
Certificates of Deposit [Member] | ||
Amortized cost | 2,977 | 2,233 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | 2,977 | 2,233 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 240 | 240 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (13) | (15) |
Fair value | 227 | 225 |
US Treasury Securities [Member] | ||
Amortized cost | 128,137 | 170,906 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (5,772) | (7,803) |
Fair value | 122,365 | 163,103 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Amortized cost | 40,000 | 40,000 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (261) | (301) |
Fair value | 39,739 | 39,699 |
Residential Mortgage-Backed Securities [Member] | ||
Amortized cost | 3,880 | 3,997 |
Gross unrealized gains | 25 | 27 |
Gross unrealized losses | (124) | (143) |
Fair value | 3,781 | 3,881 |
Collateralized Mortgage-Backed Securities [Member] | ||
Amortized cost | 1,171 | 1,223 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (21) | (26) |
Fair value | $ 1,150 | $ 1,197 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities By Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Due in one year or less, amortized cost | $ 63,028 | |
Due in one year or less, fair value | 61,858 | |
Due after one year through five years, amortized cost | 108,326 | |
Due after one year through five years | 103,450 | |
Amortized cost, single maturity date, amortized cost | 171,354 | |
Fair value, single maturity date | 165,308 | |
Amortized cost | 176,405 | $ 218,599 |
Fair value | 170,239 | 210,338 |
Residential Mortgage-Backed Securities [Member] | ||
Amortized cost, without single maturity date, amortized cost | 3,880 | |
Fair value, without single maturity date | 3,781 | |
Amortized cost | 3,880 | 3,997 |
Fair value | 3,781 | 3,881 |
Collateralized Mortgage-Backed Securities [Member] | ||
Amortized cost, without single maturity date, amortized cost | 1,171 | |
Fair value, without single maturity date | 1,150 | |
Amortized cost | 1,171 | 1,223 |
Fair value | $ 1,150 | $ 1,197 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities With Unrealized Losses (Details) $ in Thousands | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Count, less than 12 months | 29 | 180 |
Collateralized mortgage obligations - residential, fair value | $ 46,579 | $ 148,388 |
Unrealized loss, less than 12 months | $ (396) | $ (4,581) |
Count, 12 months or more | 186 | 54 |
Fair value, 12 months or more | $ 119,855 | $ 58,835 |
Unrealized loss, 12 months or more | $ (5,795) | $ (3,707) |
Count, total | 215 | 234 |
Fair value, total | $ 166,434 | $ 207,223 |
Unrealized loss, total | $ (6,191) | $ (8,288) |
US States and Political Subdivisions Debt Securities [Member] | ||
Count, less than 12 months | 0 | 1 |
Collateralized mortgage obligations - residential, fair value | $ 0 | $ 225 |
Unrealized loss, less than 12 months | $ 0 | $ (15) |
Count, 12 months or more | 1 | 0 |
Fair value, 12 months or more | $ 227 | $ 0 |
Unrealized loss, 12 months or more | $ (13) | $ 0 |
Count, total | 1 | 1 |
Fair value, total | $ 227 | $ 225 |
Unrealized loss, total | $ (13) | $ (15) |
US Treasury Securities [Member] | ||
Count, less than 12 months | 2 | 147 |
Collateralized mortgage obligations - residential, fair value | $ 4,170 | $ 104,439 |
Unrealized loss, less than 12 months | $ (53) | $ (4,104) |
Count, 12 months or more | 179 | 53 |
Fair value, 12 months or more | $ 118,195 | $ 58,664 |
Unrealized loss, 12 months or more | $ (5,719) | $ (3,699) |
Count, total | 181 | 200 |
Fair value, total | $ 122,365 | $ 163,103 |
Unrealized loss, total | $ (5,772) | $ (7,803) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Count, less than 12 months | 9 | 9 |
Collateralized mortgage obligations - residential, fair value | $ 39,739 | $ 39,699 |
Unrealized loss, less than 12 months | $ (261) | $ (301) |
Count, 12 months or more | 0 | 0 |
Fair value, 12 months or more | $ 0 | $ 0 |
Unrealized loss, 12 months or more | $ 0 | $ 0 |
Count, total | 9 | 9 |
Fair value, total | $ 39,739 | $ 39,699 |
Unrealized loss, total | $ (261) | $ (301) |
Residential Mortgage-Backed Securities [Member] | ||
Count, less than 12 months | 14 | 18 |
Collateralized mortgage obligations - residential, fair value | $ 2,414 | $ 3,016 |
Unrealized loss, less than 12 months | $ (78) | $ (143) |
Count, 12 months or more | 2 | 0 |
Fair value, 12 months or more | $ 539 | $ 0 |
Unrealized loss, 12 months or more | $ (46) | $ 0 |
Count, total | 16 | 18 |
Fair value, total | $ 2,953 | $ 3,016 |
Unrealized loss, total | $ (124) | $ (143) |
Collateralized Mortgage-Backed Securities [Member] | ||
Count, less than 12 months | 4 | 5 |
Collateralized mortgage obligations - residential, fair value | $ 256 | $ 1,009 |
Unrealized loss, less than 12 months | $ (4) | $ (18) |
Count, 12 months or more | 4 | 1 |
Fair value, 12 months or more | $ 894 | $ 171 |
Unrealized loss, 12 months or more | $ (17) | $ (8) |
Count, total | 8 | 6 |
Fair value, total | $ 1,150 | $ 1,180 |
Unrealized loss, total | $ (21) | $ (26) |
Note 3 - Securities - Proceeds
Note 3 - Securities - Proceeds and Gains and Losses From Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Proceeds from sale of securities | $ 42,631 | $ 0 |
Gross gains | 0 | 0 |
Gross losses | $ (454) | $ 0 |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) Pure in Thousands | 3 Months Ended | |||
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Financing Receivable, Unamortized Loan Cost (Fee) | $ 1,700,000 | $ 1,600,000 | ||
Financing Receivable, Allowance for Credit Loss | 10,032,000 | 8,129,000 | $ 6,786,000 | $ 6,715,000 |
Reserve for Uncollected Loan Interest | $ 241,000 | $ 38,000 | ||
Financing Receivable, Modified, Number of Contracts | 0 | |||
Unfunded Loan Commitment [Member] | Other Liabilities [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 380,000 |
Note 4 - Loans Receivable - Loa
Note 4 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans receivable | $ 1,235,320 | $ 1,234,872 | ||
Allowance for credit losses | (10,032) | (8,129) | $ (6,786) | $ (6,715) |
Loans, net | 1,225,288 | 1,226,743 | ||
Commercial Portfolio Segment [Member] | ||||
Loans receivable | 544,216 | 553,056 | ||
Allowance for credit losses | (3,576) | (2,548) | (2,078) | (1,652) |
Consumer Portfolio Segment [Member] | ||||
Loans receivable | 1,596 | 1,584 | ||
Allowance for credit losses | (41) | (49) | (46) | (44) |
One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | ||||
Loans receivable | 21,475 | 23,133 | ||
Allowance for credit losses | (354) | (281) | (315) | (331) |
Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | ||||
Loans receivable | 544,673 | 537,394 | ||
Allowance for credit losses | (4,714) | (4,017) | (3,390) | (3,377) |
Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | ||||
Loans receivable | 123,360 | 119,705 | ||
Allowance for credit losses | $ (1,347) | $ (1,234) | $ (957) | $ (1,311) |
Note 4 - Loans Receivable - Act
Note 4 - Loans Receivable - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Beginning balance | $ 8,129 | $ 6,715 |
Provision for credit losses - loans | 85 | 276 |
Loans charged off | (101) | (214) |
Recoveries | 12 | 9 |
Total ending allowance balance | 10,032 | 6,786 |
Accounting Standards Update 2016-13 [Member] | ||
Beginning balance | 8,129 | |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | 1,907 | |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Beginning balance | 10,036 | |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Beginning balance | 281 | 331 |
Provision for credit losses - loans | (31) | (14) |
Loans charged off | 0 | (4) |
Recoveries | 5 | 2 |
Total ending allowance balance | 354 | 315 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | ||
Beginning balance | 281 | |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | 99 | |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Beginning balance | 380 | |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Beginning balance | 4,017 | 3,377 |
Provision for credit losses - loans | 62 | 8 |
Loans charged off | 0 | 0 |
Recoveries | 5 | 5 |
Total ending allowance balance | 4,714 | 3,390 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Accounting Standards Update 2016-13 [Member] | ||
Beginning balance | 4,017 | |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | 630 | |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Beginning balance | 4,647 | |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Beginning balance | 1,234 | 1,311 |
Provision for credit losses - loans | 47 | (162) |
Loans charged off | 0 | (192) |
Recoveries | 0 | 0 |
Total ending allowance balance | 1,347 | 957 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | ||
Beginning balance | 1,234 | |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | 66 | |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Beginning balance | 1,300 | |
Commercial Portfolio Segment [Member] | ||
Beginning balance | 2,548 | 1,652 |
Provision for credit losses - loans | (16) | 425 |
Loans charged off | (79) | 0 |
Recoveries | 1 | 1 |
Total ending allowance balance | 3,576 | 2,078 |
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | ||
Beginning balance | 2,548 | |
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | 1,122 | |
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Beginning balance | 3,670 | |
Consumer Portfolio Segment [Member] | ||
Beginning balance | 49 | 44 |
Provision for credit losses - loans | 23 | 19 |
Loans charged off | (22) | (18) |
Recoveries | 1 | 1 |
Total ending allowance balance | 41 | $ 46 |
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | ||
Beginning balance | 49 | |
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Beginning balance | (10) | |
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | ||
Beginning balance | $ 39 |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses and Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loan balances, individually evaluated for impairment | $ 9,085 | $ 2,712 | ||
Loan balances, collectively evaluated for impairment | 1,226,235 | 1,232,160 | ||
Loans receivable | 1,235,320 | 1,234,872 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 10,032 | 8,129 | ||
Allowance for loan losses | 10,032 | 8,129 | $ 6,786 | $ 6,715 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||||
Loan balances, individually evaluated for impairment | 89 | 752 | ||
Loan balances, collectively evaluated for impairment | 21,386 | 22,381 | ||
Loans receivable | 21,475 | 23,133 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 354 | 281 | ||
Allowance for loan losses | 354 | 281 | 315 | 331 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||||
Loan balances, individually evaluated for impairment | 148 | 473 | ||
Loan balances, collectively evaluated for impairment | 544,525 | 536,921 | ||
Loans receivable | 544,673 | 537,394 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 4,714 | 4,017 | ||
Allowance for loan losses | 4,714 | 4,017 | 3,390 | 3,377 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||||
Loan balances, individually evaluated for impairment | 0 | 0 | ||
Loan balances, collectively evaluated for impairment | 123,360 | 119,705 | ||
Loans receivable | 123,360 | 119,705 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 1,347 | 1,234 | ||
Allowance for loan losses | 1,347 | 1,234 | 957 | 1,311 |
Commercial Portfolio Segment [Member] | ||||
Loan balances, individually evaluated for impairment | 8,848 | 1,487 | ||
Loan balances, collectively evaluated for impairment | 535,368 | 551,569 | ||
Loans receivable | 544,216 | 553,056 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 3,576 | 2,548 | ||
Allowance for loan losses | 3,576 | 2,548 | 2,078 | 1,652 |
Consumer Portfolio Segment [Member] | ||||
Loan balances, individually evaluated for impairment | 0 | 0 | ||
Loan balances, collectively evaluated for impairment | 1,596 | 1,584 | ||
Loans receivable | 1,596 | 1,584 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, collectively evaluated for impairment | 41 | 49 | ||
Allowance for loan losses | $ 41 | $ 49 | $ 46 | $ 44 |
Note 4 - Loans Receivable - L_2
Note 4 - Loans Receivable - Loans Individually Evaluated for Impairment By Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Loan balance, with no allowance recorded | $ 9,178 | $ 2,831 |
Recorded investment, with no allowance recorded | 9,085 | 2,712 |
Partial charge-off, with no allowance recorded | 50 | 49 |
One-to-four family residential real estate | 3,841 | 2,178 |
Interest income recognized, with no allowance recorded | 2 | 103 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loan balance, with no allowance recorded | 87 | 752 |
Recorded investment, with no allowance recorded | 89 | 752 |
Partial charge-off, with no allowance recorded | 0 | 0 |
One-to-four family residential real estate | 78 | 1,143 |
Interest income recognized, with no allowance recorded | 2 | 29 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loan balance, with no allowance recorded | 133 | 473 |
Recorded investment, with no allowance recorded | 148 | 473 |
Partial charge-off, with no allowance recorded | 0 | 0 |
One-to-four family residential real estate | 49 | 590 |
Interest income recognized, with no allowance recorded | 0 | 27 |
Real Estate Portfolio [Member] | Commercial leases [Member] | ||
Loan balance, with no allowance recorded | 8,958 | |
Recorded investment, with no allowance recorded | 8,848 | |
Partial charge-off, with no allowance recorded | 50 | |
One-to-four family residential real estate | 3,714 | |
Interest income recognized, with no allowance recorded | $ 0 | |
Commercial Portfolio Segment [Member] | ||
Loan balance, with no allowance recorded | 1,606 | |
Recorded investment, with no allowance recorded | 1,487 | |
Partial charge-off, with no allowance recorded | 49 | |
One-to-four family residential real estate | 445 | |
Interest income recognized, with no allowance recorded | $ 47 |
Note 4 - Loans Receivable - Rec
Note 4 - Loans Receivable - Recorded Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Recorded investment | $ 8,862 | $ 1,407 |
Loans past due over 90 days, still accruing | 0 | 238 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Recorded investment | 55 | 92 |
Loans past due over 90 days, still accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Recorded investment | 8,807 | 1,310 |
Loans past due over 90 days, still accruing | 0 | 238 |
Consumer Portfolio Segment [Member] | ||
Recorded investment | $ 0 | 5 |
Loans past due over 90 days, still accruing | $ 0 |
Note 4 - Loans Receivable - Agi
Note 4 - Loans Receivable - Aging of the Recorded Investment of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Loans receivable | $ 1,235,320 | $ 1,234,872 |
Loans receivable, nonaccrual | 8,862 | 1,407 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 21,475 | 23,133 |
Loans receivable, nonaccrual | 55 | 92 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 544,673 | 537,394 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 501,451 | 494,988 |
Loans receivable, nonaccrual | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 43,222 | 42,406 |
Loans receivable, nonaccrual | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 22,264 | 22,617 |
Loans receivable, nonaccrual | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 101,096 | 97,088 |
Loans receivable, nonaccrual | 0 | 0 |
Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 285,404 | 283,453 |
Loans receivable, nonaccrual | 384 | 1,310 |
Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 202,936 | 211,583 |
Loans receivable, nonaccrual | 8,420 | 0 |
Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 55,876 | 58,020 |
Loans receivable, nonaccrual | 3 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,596 | 1,584 |
Loans receivable, nonaccrual | 0 | 5 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans receivable | 13,971 | 4,912 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 496 | 411 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 786 | 31 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 362 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 5,106 | 2,424 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 6,421 | 2,034 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 794 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 6 | 12 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans receivable | 1,916 | 5,546 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 16 | 19 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 148 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 185 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 1,139 | 336 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 423 | 5,106 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 0 | 81 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 5 | 4 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans receivable | 0 | 238 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 0 | 111 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 0 | 127 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Loans receivable | 15,887 | 10,696 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 512 | 430 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 934 | 31 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 547 | 0 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 0 | 0 |
Financial Asset, Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 6,245 | 2,871 |
Financial Asset, Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 6,844 | 7,140 |
Financial Asset, Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 794 | 208 |
Financial Asset, Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 11 | 16 |
Financial Asset, Not Past Due [Member] | ||
Loans receivable | 1,210,571 | 1,222,769 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 20,908 | 22,611 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Senior Mortgage Notes [Member] | ||
Loans receivable | 500,517 | 494,957 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Junior Mortgage Notes [Member] | ||
Loans receivable | 42,675 | 42,406 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 22,264 | 22,617 |
Financial Asset, Not Past Due [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 101,096 | 97,088 |
Financial Asset, Not Past Due [Member] | Commercial Loans and Leases [Member] | Commercial Loans [Member] | ||
Loans receivable | 278,775 | 279,272 |
Financial Asset, Not Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Government [Member] | ||
Loans receivable | 187,672 | 204,443 |
Financial Asset, Not Past Due [Member] | Commercial Loans and Leases [Member] | Equipment Finance Leases, Investment-rated [Member] | ||
Loans receivable | 55,079 | 57,812 |
Financial Asset, Not Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 1,585 | $ 1,563 |
Note 4 - Loans Receivable - Ris
Note 4 - Loans Receivable - Risk Categories of Loans By Class of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Loans receivable | $ 1,235,320 | $ 1,234,872 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 21,475 | 23,133 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 151 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 200 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 16,323 | |
Financing Receivable, revolving | 4,801 | |
Current period recoveries, current year | 0 | |
Current period recoveries, one year before | 0 | |
Current period recoveries, two years before | 0 | |
Current period recoveries, three years before | 0 | |
Current period recoveries, four years before | 0 | |
Current period recoveries, prior | 5 | |
Current period recoveries, revolving | 0 | |
Current period recoveries, total | 5 | |
Recoveries (charge-offs), net, current year | 0 | |
Recoveries (charge-offs), net, one year before | 0 | |
Recoveries (charge-offs), net, two year before | 0 | |
Recoveries (charge-offs), net, three years before | 0 | |
Recoveries (charge-offs), net, four years before | 0 | |
Recoveries (charge-offs), net, prior | 5 | |
Recoveries (charge-offs), net, revolving | 0 | |
Recoveries (charge-offs), net, total | 5 | |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 544,673 | 537,394 |
Financing Receivable, current year | 20,500 | |
Financing Receivable, one year before | 217,091 | |
Financing Receivable, two years before | 125,506 | |
Financing Receivable, three years before | 63,839 | |
Financing Receivable, four years before | 23,907 | |
Financing Receivable, prior | 85,151 | |
Financing Receivable, revolving | 8,679 | |
Current period recoveries, current year | 0 | |
Current period recoveries, one year before | 0 | |
Current period recoveries, two years before | 0 | |
Current period recoveries, three years before | 0 | |
Current period recoveries, four years before | 0 | |
Current period recoveries, prior | 5 | |
Current period recoveries, revolving | 0 | |
Current period recoveries, total | 5 | |
Recoveries (charge-offs), net, current year | 0 | |
Recoveries (charge-offs), net, one year before | 0 | |
Recoveries (charge-offs), net, two year before | 0 | |
Recoveries (charge-offs), net, three years before | 0 | |
Recoveries (charge-offs), net, four years before | 0 | |
Recoveries (charge-offs), net, prior | 5 | |
Recoveries (charge-offs), net, revolving | 0 | |
Recoveries (charge-offs), net, total | 5 | |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 123,360 | 119,705 |
Financing Receivable, current year | 8,759 | |
Financing Receivable, one year before | 55,610 | |
Financing Receivable, two years before | 23,864 | |
Financing Receivable, three years before | 8,660 | |
Financing Receivable, four years before | 10,171 | |
Financing Receivable, prior | 16,042 | |
Financing Receivable, revolving | 254 | |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 544,216 | 553,056 |
Financing Receivable, current year | 24,241 | |
Financing Receivable, one year before | 232,978 | |
Financing Receivable, two years before | 102,466 | |
Financing Receivable, three years before | 67,124 | |
Financing Receivable, four years before | 9,408 | |
Financing Receivable, prior | 5,836 | |
Financing Receivable, revolving | 102,163 | |
Current period recoveries, current year | 0 | |
Current period recoveries, one year before | 0 | |
Current period recoveries, two years before | 0 | |
Current period recoveries, three years before | 0 | |
Current period recoveries, four years before | 0 | |
Current period recoveries, prior | 1 | |
Current period recoveries, revolving | 0 | |
Current period recoveries, total | 1 | |
Recoveries (charge-offs), net, current year | 0 | |
Recoveries (charge-offs), net, one year before | (79) | |
Recoveries (charge-offs), net, two year before | 0 | |
Recoveries (charge-offs), net, three years before | 0 | |
Recoveries (charge-offs), net, four years before | 0 | |
Recoveries (charge-offs), net, prior | 1 | |
Recoveries (charge-offs), net, revolving | 0 | |
Recoveries (charge-offs), net, total | (78) | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | (79) | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | (79) | |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,596 | 1,584 |
Financing Receivable, current year | 84 | |
Financing Receivable, one year before | 134 | |
Financing Receivable, two years before | 247 | |
Financing Receivable, three years before | 160 | |
Financing Receivable, four years before | 335 | |
Financing Receivable, prior | 5 | |
Financing Receivable, revolving | 631 | |
Current period recoveries, current year | 0 | |
Current period recoveries, one year before | 0 | |
Current period recoveries, two years before | 0 | |
Current period recoveries, three years before | 0 | |
Current period recoveries, four years before | 0 | |
Current period recoveries, prior | 0 | |
Current period recoveries, revolving | 1 | |
Current period recoveries, total | 1 | |
Recoveries (charge-offs), net, current year | 0 | |
Recoveries (charge-offs), net, one year before | 0 | |
Recoveries (charge-offs), net, two year before | 0 | |
Recoveries (charge-offs), net, three years before | 0 | |
Recoveries (charge-offs), net, four years before | 0 | |
Recoveries (charge-offs), net, prior | 0 | |
Recoveries (charge-offs), net, revolving | (21) | |
Recoveries (charge-offs), net, total | (21) | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | 0 | |
Current period gross charge-offs | (22) | |
Current period gross charge-offs | (22) | |
Pass [Member] | ||
Loans receivable | 1,190,779 | 1,198,984 |
Pass [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 21,080 | 22,648 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 151 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 200 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 16,109 | |
Financing Receivable, revolving | 4,620 | |
Pass [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 541,885 | 534,253 |
Financing Receivable, current year | 20,500 | |
Financing Receivable, one year before | 217,091 | |
Financing Receivable, two years before | 125,506 | |
Financing Receivable, three years before | 63,839 | |
Financing Receivable, four years before | 23,907 | |
Financing Receivable, prior | 82,363 | |
Financing Receivable, revolving | 8,679 | |
Pass [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 120,351 | 116,635 |
Financing Receivable, current year | 8,759 | |
Financing Receivable, one year before | 54,580 | |
Financing Receivable, two years before | 22,232 | |
Financing Receivable, three years before | 8,660 | |
Financing Receivable, four years before | 10,171 | |
Financing Receivable, prior | 15,695 | |
Financing Receivable, revolving | 254 | |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 505,882 | 523,889 |
Financing Receivable, current year | 23,848 | |
Financing Receivable, one year before | 213,313 | |
Financing Receivable, two years before | 102,419 | |
Financing Receivable, three years before | 65,130 | |
Financing Receivable, four years before | 9,314 | |
Financing Receivable, prior | 5,771 | |
Financing Receivable, revolving | 86,087 | |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,581 | 1,559 |
Financing Receivable, current year | 84 | |
Financing Receivable, one year before | 134 | |
Financing Receivable, two years before | 247 | |
Financing Receivable, three years before | 160 | |
Financing Receivable, four years before | 335 | |
Financing Receivable, prior | 5 | |
Financing Receivable, revolving | 616 | |
Watch [Member] | ||
Loans receivable | 19,981 | 28,584 |
Watch [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 44 | 62 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 44 | |
Financing Receivable, revolving | 0 | |
Watch [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 2,640 | 3,141 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 2,640 | |
Financing Receivable, revolving | 0 | |
Watch [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 3,009 | 3,070 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 1,030 | |
Financing Receivable, two years before | 1,632 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 347 | |
Financing Receivable, revolving | 0 | |
Watch [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 14,283 | 22,299 |
Financing Receivable, current year | 393 | |
Financing Receivable, one year before | 121 | |
Financing Receivable, two years before | 43 | |
Financing Receivable, three years before | 1,648 | |
Financing Receivable, four years before | 33 | |
Financing Receivable, prior | 65 | |
Financing Receivable, revolving | 11,980 | |
Watch [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 5 | 12 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 5 | |
Special Mention [Member] | ||
Loans receivable | 11,419 | 1,525 |
Special Mention [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 16 | 4 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 16 | |
Financing Receivable, revolving | 0 | |
Special Mention [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 11,398 | 1,517 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 11,050 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 348 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 5 | 4 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 5 | |
Substandard [Member] | ||
Loans receivable | 4,279 | 4,372 |
Substandard [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 280 | 327 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 128 | |
Financing Receivable, revolving | 152 | |
Substandard [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 148 | 0 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 148 | |
Financing Receivable, revolving | 0 | |
Substandard [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 3,846 | 4,041 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 40 | |
Financing Receivable, four years before | 58 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 3,748 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 5 | 4 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 5 | |
Substandard Nonaccrual [Member] | ||
Loans receivable | 8,862 | 1,407 |
Substandard Nonaccrual [Member] | Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loans receivable | 55 | 92 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 0 | |
Financing Receivable, two years before | 0 | |
Financing Receivable, three years before | 0 | |
Financing Receivable, four years before | 0 | |
Financing Receivable, prior | 26 | |
Financing Receivable, revolving | 29 | |
Substandard Nonaccrual [Member] | Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 0 | 0 |
Substandard Nonaccrual [Member] | Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 0 | 0 |
Substandard Nonaccrual [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 8,807 | 1,310 |
Financing Receivable, current year | 0 | |
Financing Receivable, one year before | 8,494 | |
Financing Receivable, two years before | 4 | |
Financing Receivable, three years before | 306 | |
Financing Receivable, four years before | 3 | |
Financing Receivable, prior | 0 | |
Financing Receivable, revolving | 0 | |
Substandard Nonaccrual [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 0 | $ 5 |
Note 5 - Foreclosed Assets (Det
Note 5 - Foreclosed Assets (Details Textual) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Mortgage Loans in Process of Foreclosure, Amount | $ 5,000 | $ 0 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 1,393,000 | 476,000 |
Foreclosed Residential Real Estate Properties, Physical Possession Without Title [Member] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 0 |
Note 5 - Foreclosed Assets - Re
Note 5 - Foreclosed Assets - Real Estate Acquired Through Foreclosure (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Other real estate owned, gross | $ 472 | $ 472 |
Other real estate owned, valuation allowance | 0 | 0 |
Other real estate owned | 472 | 472 |
Other foreclosed assets, gross | 921 | 4 |
Other foreclosed assets, valuation allowance | 0 | 0 |
Other foreclosed assets | 921 | 4 |
Other real estate owned and other foreclosed assets, gross | 1,393 | 476 |
Other real estate owned and other foreclosed assets, valuation allowance | 0 | 0 |
Total | $ 1,393 | $ 476 |
Note 5 - Foreclosed Assets- Rol
Note 5 - Foreclosed Assets- Roll Forward of Foreclosed Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Beginning balance | $ 476 | $ 725 |
New foreclosed assets | 921 | 274 |
Valuation reductions from sales | 0 | 8 |
Sales | (4) | (39) |
Ending balance | $ 1,393 | $ 968 |
Note 5 - Foreclosed Assets - Ac
Note 5 - Foreclosed Assets - Activity in the Valuation Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Beginning balance | $ 0 | $ 227 |
Reductions from sales | 0 | (8) |
Ending balance | $ 0 | $ 219 |
Note 6 - Borrowings and Subor_3
Note 6 - Borrowings and Subordinated Notes (Details Textual) - USD ($) | 12 Months Ended | |||
Apr. 14, 2021 | Dec. 31, 2020 | Mar. 31, 2023 | Dec. 31, 2022 | |
Federal Home Loan Bank Advances [Member] | ||||
Debt, Long-term and Short-term, Combined Amount, Total | $ 0 | $ 0 | ||
Line of Credit [Member] | Unsecured Debt [Member] | ||||
Line of Credit, Current | $ 5,000,000 | |||
Debt Instrument, Prime Rate Floor | 2.40% | |||
Prime Rate [Member] | Line of Credit [Member] | Unsecured Debt [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||
The 3.75 Percent Fixed-to-Floating Rate Subordinated Notes [Member] | ||||
Debt Instrument, Face Amount | $ 20,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |||
Debt Issuance Costs, Net, Total | $ 441,000 | $ 355,000 | $ 366,000 | |
Debt Instrument, Term (Year) | 10 years | |||
The 3.75 Percent Fixed-to-Floating Rate Subordinated Notes [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.99% |
Note 6 - Borrowings and Subor_4
Note 6 - Borrowings and Subordinated Notes - Advances From the FHLB (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Subordinated notes, net of unamortized issuance costs | $ 19,645 | $ 19,634 |
Line of credit, due March 31, 2022, interest rate | 7.50% | 6.75% |
Line of credit, due March 29, 2024 | $ 0 | $ 0 |
Subordinated Debt [Member] | ||
Subordinated notes, due May 15, 2031 | 3.75% | 3.75% |
Subordinated notes, net of unamortized issuance costs | $ 19,645 | $ 19,634 |
Fix Rate Advance Due April 7, 2023 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.88% | 0% |
Fixed-rate advance from FHLB | $ 10,000 | $ 0 |
Fix Rate Advance Due September 16, 2024 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.55% | 0% |
Fixed-rate advance from FHLB | $ 5,000 | $ 0 |
Fix Rate Advance Due March 17, 2025 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.27% | 0% |
Fixed-rate advance from FHLB | $ 5,000 | $ 0 |
Fix Rate Advance Due September 17, 2025 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.20% | 0% |
Fixed-rate advance from FHLB | $ 5,000 | $ 0 |
Fix Rate Advance Due March 17, 2026 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.15% | |
Fixed-rate advance from FHLB | $ 5,000 | |
Fix Rate Advance Due September 17, 2026 [Member] | ||
Fixed-rate advance from FHLB, interest rate | 4.06% | 0% |
Fixed-rate advance from FHLB | $ 5,000 | $ 0 |
Note 7 - Fair Value (Details Te
Note 7 - Fair Value (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Valuation Reserve on Premises Held-for-sale | [1] | $ 553,000 | $ 0 |
[1]Not within the scope of ASC 606 |
Note 7 - Fair Value - Financial
Note 7 - Fair Value - Financial Assets At Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Securities | $ 170,239 | $ 210,338 |
Certificates of Deposit [Member] | ||
Securities | 2,977 | 2,233 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 227 | 225 |
US Treasury and Government [Member] | ||
Securities | 122,365 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 39,739 | 39,699 |
Residential Mortgage-Backed Securities [Member] | ||
Securities | 3,781 | 3,881 |
Collateralized Mortgage-Backed Securities [Member] | ||
Securities | 1,150 | 1,197 |
US Treasury Securities [Member] | ||
Securities | 122,365 | 163,103 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | 122,365 | 163,103 |
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Securities | 122,365 | |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Securities | 163,103 | |
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 47,874 | 47,235 |
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ||
Securities | 2,977 | 2,233 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 227 | 225 |
Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Securities | 0 | |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 39,739 | 39,699 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities | 3,781 | 3,881 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities | 1,150 | 1,197 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | ||
Securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage-Backed Securities [Member] | ||
Securities | $ 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Securities | $ 0 |
Note 7 - Fair Value - Carrying
Note 7 - Fair Value - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Securities | $ 170,239 | $ 210,338 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | 122,365 | 163,103 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 47,874 | 47,235 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | 0 | 0 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 77,005 | 66,771 |
Securities | 170,239 | 210,338 |
Loans receivable, net of allowance for credit losses | 1,225,288 | 1,226,743 |
FHLB and FRB stock | 7,490 | 7,490 |
Accrued interest receivable | 8,316 | 7,338 |
Certificates of deposit | 193,365 | 186,524 |
Borrowings | 35,000 | |
Subordinated notes | 19,645 | 19,634 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 77,005 | 66,771 |
Securities | 170,239 | 210,338 |
Loans receivable, net of allowance for credit losses | 1,185,493 | 1,198,616 |
Accrued interest receivable | 8,316 | 7,338 |
Certificates of deposit | 189,910 | 182,398 |
Borrowings | 35,088 | |
Subordinated notes | 17,000 | 17,800 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 76,432 | 65,967 |
Securities | 122,365 | 163,103 |
Loans receivable, net of allowance for credit losses | 0 | 0 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 304 | 514 |
Certificates of deposit | 0 | 0 |
Borrowings | 0 | |
Subordinated notes | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 573 | 804 |
Securities | 47,874 | 47,235 |
Loans receivable, net of allowance for credit losses | 0 | 0 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 477 | 477 |
Certificates of deposit | 189,910 | 182,398 |
Borrowings | 35,088 | |
Subordinated notes | 17,000 | 17,800 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Securities | 0 | 0 |
Loans receivable, net of allowance for credit losses | 1,185,493 | 1,198,616 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 7,535 | 6,347 |
Certificates of deposit | 0 | 0 |
Borrowings | 0 | |
Subordinated notes | $ 0 | $ 0 |
Note 8 - Revenue From Contrac_3
Note 8 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 816,000 | $ 781,000 |
Credit and Debit Card [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 334,000 | $ 360,000 |
Note 8 - Revenue From Contrac_4
Note 8 - Revenue From Contracts With Customers - Noninterest Income (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Deposit service charges and fees | $ 816,000 | $ 781,000 | |
Loan servicing fees | [1] | 129,000 | 101,000 |
(Loss) earnings on bank-owned life insurance | [1] | (84,000) | 28,000 |
Losses on sales of securities | [1] | (454,000) | 0 |
Valuation adjustment on bank premises held-for-sale | [1] | (553,000) | 0 |
Other | [1] | 92,000 | 196,000 |
Total noninterest income | 313,000 | 1,444,000 | |
Deposit Account [Member] | |||
Deposit service charges and fees | 816,000 | 781,000 | |
Bank Servicing [Member] | |||
Deposit service charges and fees | $ 367,000 | $ 338,000 | |
[1]Not within the scope of ASC 606 |