Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 21, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | QUAINT OAK BANCORP INC | ||
Entity Central Index Key | 0001391933 | ||
Trading Symbol | qnto | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 1,977,228 | ||
Entity Public Float | $ 17,287,275 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Due from banks, non-interest-bearing | $ 369 | $ 64 |
Due from banks, interest-bearing | 25,643 | 7,846 |
Cash and cash equivalents | 26,012 | 7,910 |
Investment in interest-earning time deposits | 4,927 | 4,879 |
Investment securities available for sale | 6,680 | 7,912 |
Loans held for sale | 5,103 | 7,006 |
Loans receivable, net of allowance for loan losses (2018 $1,965; 2017 $1,812) | 216,898 | 201,667 |
Accrued interest receivable | 1,153 | 1,021 |
Investment in Federal Home Loan Bank stock, at cost | 1,086 | 1,234 |
Bank-owned life insurance | 3,894 | 3,814 |
Premises and equipment, net | 2,058 | 1,988 |
Goodwill | 515 | 515 |
Other intangible, net of accumulated amortization | 368 | 416 |
Other real estate owned, net | 1,650 | |
Prepaid expenses and other assets | 1,060 | 1,234 |
Total Assets | 271,404 | 239,596 |
Deposits: | ||
Non-interest bearing | 17,542 | 7,956 |
Interest-bearing | 194,369 | 178,265 |
Total deposits | 211,911 | 186,221 |
Federal Home Loan Bank short-term borrowings | 9,000 | 10,000 |
Federal Home Loan Bank long-term borrowings | 15,000 | 18,000 |
Subordinated debt | 7,831 | |
Accrued interest payable | 221 | 167 |
Advances from borrowers for taxes and insurance | 2,568 | 2,423 |
Accrued expenses and other liabilities | 1,037 | 600 |
Total Liabilities | 247,568 | 217,411 |
Stockholders’ Equity | ||
Preferred stock – $0.01 par value, 1,000,000 shares authorized; none issued or outstanding | 0 | 0 |
Common stock – $0.01 par value; 9,000,000 shares authorized; 2,777,250 issued; 1,975,947 and 1,920,024 outstanding at December 31, 2018 and 2017, respectively | 28 | 28 |
Additional paid-in capital | 14,683 | 14,481 |
Treasury stock, at cost: 2018 801,303 shares; 2017 857,226 shares | (4,824) | (4,675) |
Unallocated common stock held by: | ||
Employee Stock Ownership Plan (ESOP) | (185) | (253) |
Recognition & Retention Plan Trust (RRP) | (24) | |
Accumulated other comprehensive loss | (2) | (15) |
Retained earnings | 14,136 | 12,643 |
Total Stockholders' Equity | 23,836 | 22,185 |
Total Liabilities and Stockholders’ Equity | $ 271,404 | $ 239,596 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans receivable, allowance for loan losses | $ 1,965 | $ 1,812 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
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) | 9,000,000 | 9,000,000 |
Common stock, shares issued (in shares) | 2,777,250 | 2,777,250 |
Common stock, shares outstanding (in shares) | 1,975,947 | 1,920,024 |
Treasury stock, at cost, shares (in shares) | 801,303 | 857,226 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Interest Income | ||
Interest on loans, including fees | $ 11,530,000 | $ 10,231,000 |
Interest and dividends on investment securities, interest-bearing deposits with others, and Federal Home Loan Bank stock | 595,000 | 357,000 |
Total Interest Income | 12,125,000 | 10,588,000 |
Interest Expense | ||
Interest on deposits | 3,264,000 | 2,681,000 |
Interest on Federal Home Loan Bank short-term borrowings | 197,000 | 101,000 |
Interest on Federal Home Loan Bank long-term borrowings | 352,000 | 220,000 |
Interest on subordinated debt | 7,000 | |
Total Interest Expense | 3,820,000 | 3,002,000 |
Net Interest Income | 8,305,000 | 7,586,000 |
Provision for Loan Losses | 415,000 | 284,000 |
Net Interest Income after Provision for Loan Losses | 7,890,000 | 7,302,000 |
Non-Interest Income | ||
Insurance commissions | 430,000 | 389,000 |
Income from bank-owned life insurance | 80,000 | 86,000 |
Net gain on the sale of residential mortgage loans | 2,120,000 | 2,094,000 |
Gain on the sale of SBA loans | 105,000 | 48,000 |
Gain (loss) on sales and write-downs of other real estate owned | 63,000 | (68,000) |
Total Non-Interest Income, net | 3,947,000 | 3,442,000 |
Non-Interest Expense | ||
Salaries and employee benefits | 6,407,000 | 5,478,000 |
Directors’ fees and expenses | 208,000 | 204,000 |
Occupancy and equipment | 601,000 | 573,000 |
Data processing | 398,000 | 331,000 |
Professional fees | 365,000 | 367,000 |
FDIC deposit insurance assessment | 186,000 | 174,000 |
Other real estate owned expenses | 20,000 | 14,000 |
Advertising | 217,000 | 195,000 |
Amortization of other intangible | 48,000 | 49,000 |
Other | 716,000 | 687,000 |
Total Non-Interest Expense | 9,166,000 | 8,072,000 |
Income before Income Taxes | 2,671,000 | 2,672,000 |
Income Taxes | 667,000 | 1,205,000 |
Net Income | $ 2,004,000 | $ 1,467,000 |
Earnings per share – basic (in dollars per share) | $ 1.04 | $ 0.79 |
Average shares outstanding - basic (in shares) | 1,923,491 | 1,857,457 |
Earnings per share - diluted (in dollars per share) | $ 1.01 | $ 0.74 |
Average shares outstanding - diluted (in shares) | 1,982,998 | 1,994,832 |
Mortgage Banking and Abstract Fees [Member] | ||
Non-Interest Income | ||
Non-interest revenue | $ 826,000 | $ 730,000 |
Real Estate Sales Commissions [Member] | ||
Non-Interest Income | ||
Non-interest revenue | 192,000 | 99,000 |
Other Fees and Services Fees [Member] | ||
Non-Interest Income | ||
Non-interest revenue | $ 131,000 | $ 64,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Net Income | $ 2,004,000 | $ 1,467,000 |
Other Comprehensive Income: | ||
Unrealized gains on investment securities available for sale | 16,000 | 38,000 |
Income tax effect | (3,000) | (13,000) |
Net other comprehensive income | 13,000 | 25,000 |
Total Comprehensive Income | $ 2,017,000 | $ 1,492,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | The 401(k) Plan [Member]Common Stock [Member] | The 401(k) Plan [Member]Additional Paid-in Capital [Member] | The 401(k) Plan [Member]Treasury Stock [Member] | The 401(k) Plan [Member]Unallocated Common Stock Held by Benefit Plans [Member] | The 401(k) Plan [Member]AOCI Attributable to Parent [Member] | The 401(k) Plan [Member]Retained Earnings [Member] | The 401(k) Plan [Member] | The 2013 Stock Incentive Plan [Member]Common Stock [Member] | The 2013 Stock Incentive Plan [Member]Additional Paid-in Capital [Member] | The 2013 Stock Incentive Plan [Member]Treasury Stock [Member] | The 2013 Stock Incentive Plan [Member]Unallocated Common Stock Held by Benefit Plans [Member] | The 2013 Stock Incentive Plan [Member]AOCI Attributable to Parent [Member] | The 2013 Stock Incentive Plan [Member]Retained Earnings [Member] | The 2013 Stock Incentive Plan [Member] | The 2008 Stock Option Plan [Member]Common Stock [Member] | The 2008 Stock Option Plan [Member]Additional Paid-in Capital [Member] | The 2008 Stock Option Plan [Member]Treasury Stock [Member] | The 2008 Stock Option Plan [Member]Unallocated Common Stock Held by Benefit Plans [Member] | The 2008 Stock Option Plan [Member]AOCI Attributable to Parent [Member] | The 2008 Stock Option Plan [Member]Retained Earnings [Member] | The 2008 Stock Option Plan [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Unallocated Common Stock Held by Benefit Plans [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
BALANCE (in shares) at Dec. 31, 2016 | 1,891,150 | |||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | $ 28,000 | $ 14,240,000 | $ (4,611,000) | $ (367,000) | $ (38,000) | $ 11,538,000 | $ 20,790,000 | |||||||||||||||||||||
Common stock allocated by ESOP (14,428 shares) | 118,000 | 67,000 | 185,000 | |||||||||||||||||||||||||
Treasury stock purchased (in shares) | (29,393) | |||||||||||||||||||||||||||
Treasury stock purchased | (347,000) | (347,000) | ||||||||||||||||||||||||||
Reissuance of treasury stock (in shares) | 7,336 | 5,397 | 45,534 | |||||||||||||||||||||||||
Reissuance of treasury stock | $ 56,000 | $ 38,000 | $ 94,000 | $ (28,000) | $ 28,000 | $ (11,000) | $ 217,000 | $ 206,000 | ||||||||||||||||||||
Stock based compensation expense | 129,000 | 129,000 | ||||||||||||||||||||||||||
Release of 4,864 vested RRP shares | (23,000) | 23,000 | ||||||||||||||||||||||||||
Cash dividends declared | (364,000) | (364,000) | ||||||||||||||||||||||||||
Net Income | 1,467,000 | 1,467,000 | ||||||||||||||||||||||||||
Reclassification of certain income tax effects from accumulated other comprehensive income | (2,000) | 2,000 | ||||||||||||||||||||||||||
Other comprehensive income, net | 25,000 | 25,000 | ||||||||||||||||||||||||||
Cash dividends declared | (364,000) | $ (364,000) | ||||||||||||||||||||||||||
BALANCE (in shares) at Dec. 31, 2017 | 1,920,024 | 1,920,024 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 28,000 | 14,481,000 | (4,675,000) | (277,000) | (15,000) | 12,643,000 | $ 22,185,000 | |||||||||||||||||||||
Common stock allocated by ESOP (14,428 shares) | 124,000 | 68,000 | 192,000 | |||||||||||||||||||||||||
Treasury stock purchased (in shares) | (60,711) | |||||||||||||||||||||||||||
Treasury stock purchased | (795,000) | 2,000 | (793,000) | |||||||||||||||||||||||||
Reissuance of treasury stock (in shares) | 4,793 | 4,997 | 106,844 | |||||||||||||||||||||||||
Reissuance of treasury stock | $ 37,000 | $ 27,000 | $ 64,000 | $ (28,000) | $ 28,000 | $ (57,000) | $ 591,000 | $ 534,000 | ||||||||||||||||||||
Stock based compensation expense | 148,000 | 148,000 | ||||||||||||||||||||||||||
Release of 4,864 vested RRP shares | (22,000) | 22,000 | ||||||||||||||||||||||||||
Cash dividends declared | (511,000) | (511,000) | ||||||||||||||||||||||||||
Net Income | 2,004,000 | 2,004,000 | ||||||||||||||||||||||||||
Other comprehensive income, net | 13,000 | 13,000 | ||||||||||||||||||||||||||
Cash dividends declared | (511,000) | $ (511,000) | ||||||||||||||||||||||||||
BALANCE (in shares) at Dec. 31, 2018 | 1,975,947 | 1,975,947 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 28,000 | $ 14,683,000 | $ (4,824,000) | $ (185,000) | $ (2,000) | $ 14,136,000 | $ 23,836,000 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
AOCI Attributable to Parent [Member] | ||
Release of vested RRP shares (in shares) | 4,664 | 4,864 |
Retained Earnings [Member] | ||
Cash dividends declared, per share (in dollars per share) | $ 0.26 | $ 0.19 |
Common stock allocated by ESOP (in shares) | 14,428 | 14,428 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows from Operating Activities | ||
Net Income | $ 2,004,000 | $ 1,467,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 415,000 | 284,000 |
Depreciation expense | 202,000 | 192,000 |
Amortization of other intangible | 48,000 | 49,000 |
Net amortization of securities premiums | 19,000 | 19,000 |
Accretion of deferred loan fees and costs, net | (348,000) | (333,000) |
Deferred income taxes | (26,000) | 232,000 |
Stock-based compensation expense | 340,000 | 314,000 |
Net gain on loans held for sale | (2,120,000) | (2,094,000) |
Loans held for sale-originations | (100,138,000) | (87,963,000) |
Loans held for sale-proceeds | 104,160,000 | 87,763,000 |
Gain on the sale of SBA loans | (105,000) | (48,000) |
Net (gain) loss on sale and write-downs of other real estate owned | (63,000) | 68,000 |
Increase in the cash surrender value of bank-owned life insurance | (80,000) | (86,000) |
Changes in assets and liabilities which provided (used) cash: | ||
Accrued interest receivable | (132,000) | (159,000) |
Prepaid expenses and other assets | 197,000 | (236,000) |
Accrued interest payable | 54,000 | 25,000 |
Accrued expenses and other liabilities | 437,000 | 86,000 |
Net Cash Provided by (Used in) Operating Activities | 4,864,000 | (420,000) |
Cash Flows from Investing Activities | ||
Purchase of interest-earning time deposits | (809,000) | (1,630,000) |
Redemption of interest-earning time deposits | 761,000 | 2,849,000 |
Principal repayments on investment securities available for sale | 1,230,000 | 1,662,000 |
Net increase in loans receivable | (16,734,000) | (24,763,000) |
Purchase of Federal Home Loan Bank stock | (12,000) | (561,000) |
Redemption of Federal Home Loan Bank stock | 160,000 | 40,000 |
Proceeds from the sale of other real estate owned | 63,000 | 389,000 |
Capitalized expenditures on other real estate owned | (109,000) | (22,000) |
Purchase of premises and equipment | (272,000) | (450,000) |
Net Cash Used in Investing Activities | (15,722,000) | (22,486,000) |
Cash Flows from Financing Activities | ||
Net increase in demand deposits, money markets, and savings accounts | 4,512,000 | 1,244,000 |
Net increase in certificate accounts | 21,178,000 | 7,970,000 |
Increase in advances from borrowers for taxes and insurance | 145,000 | 213,000 |
Net (repayments) proceeds from Federal Home Loan Bank short-term borrowings | (1,000,000) | 3,000,000 |
Proceeds from Federal Home Loan Bank long-term borrowings | 12,000,000 | |
Repayment of Federal Home Loan Bank long-term borrowings | (3,000,000) | (2,500,000) |
Net proceeds from the issuance of subordinated debt | 7,831,000 | |
Dividends paid | (511,000) | (364,000) |
Purchase of treasury stock | (793,000) | (347,000) |
Proceeds from the reissuance of treasury stock | 64,000 | 94,000 |
Proceeds from the exercise of stock options | 534,000 | 206,000 |
Net Cash Provided by Financing Activities | 28,960,000 | 21,516,000 |
Net Increase (Decrease) in Cash and Cash Equivalents | 18,102,000 | (1,390,000) |
Cash and Cash Equivalents-Beginning of Year | 7,910,000 | 9,300,000 |
Cash and Cash Equivalents-End of Year | 26,012,000 | 7,910,000 |
Supplementary Disclosure of Cash Flow and Non-Cash Information: | ||
Cash payments for interest | 3,766,000 | 2,977,000 |
Cash payments for income taxes | 561,000 | 1,139,000 |
Transfer of loans to other real estate owned | $ 1,541,000 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 The consolidated financial statements include the accounts of Quaint Oak Bancorp, Inc., a Pennsylvania chartered corporation (the "Company" or "Quaint Oak Bancorp") and its wholly owned subsidiary, Quaint Oak Bank, a Pennsylvania chartered stock savings bank, along with its wholly owned subsidiaries. At December 31, 2018, five July 2009. February 2019, July 2012 August 2016 The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Pursuant to the Bank’s election under Section 10 two |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 2 Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Company’s most significant estimates are the determination of the allowance for loan losses and valuation of deferred tax assets. Significant Group Concentrations of Credit Risk The Bank has a significant concentration of loans in Philadelphia County, Pennsylvania. The concentration of credit by type of loan is set forth in Note 7. December 31, 2018, one 53% 53% Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include non-interest earning and interest-earning demand deposits and money market accounts with various financial institutions, all of which mature within ninety Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Securities classified as available for sale are those securities that the Company intends to hold for an indefinite period of time but not Securities classified as held to maturity are those debt securities the Company has both the intent and ability to hold to maturity regardless of the changes in market conditions, liquidity needs, or changes in general economic conditions. These securities are carried at cost adjusted for amortization of premium and accretion of discount, which are recognized in interest income using the interest method over the terms of the securities. The Company follows the accounting guidance related to recognition and presentation of other-than-temporary impairment. This accounting guidance specifies that (a) if a company does not not not not not not not no December 31, 2018 2017. Federal Home Loan Bank Stock Federal law requires a member institution of the Federal Home Loan Bank (FHLB) system to hold restricted stock of its district Federal Home Loan Bank according to a predetermined formula. FHLB stock is carried at cost and evaluated for impairment. When evaluating FHLB stock for impairment, its value is determined based on the ultimate recoverability of the par value of the stock. We evaluate our holdings of FHLB stock for impairment each reporting period. No December 31, 2018 2017. Loans Receivable Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of an allowance for loan losses and any deferred fees. Interest income is accrued on the unpaid principal balance. Loan origination fees and costs are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Bank is generally amortizing these amounts over the contractual life of the loan. The loans receivable portfolio is segmented into residential loans, commercial real estate loans, construction loans, commercial business, and consumer loans. The residential loan segment has two one four one four five The accrual of interest is generally discontinued when principal or interest has become 90 no Allowance for Loan Losses The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. Because all identified losses are immediately charged off, no The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may The allowance consists of specific, general and unallocated components. The specific component relates to loans that are identified as impaired. For loans that are identified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These significant factors may A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A loan is considered a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not For loans secured by real estate, estimated fair values are determined primarily through third The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for all loans (except one four $500,000, may not may may not Loans Held for Sale Loans originated by the Bank’s mortgage banking subsidiary, Quaint Oak Mortgage, LLC, are intended for sale in the secondary market and are carried at the lower of cost or fair value. Gains and losses on loan sales (sales proceeds minus carrying value) are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are Bank Owned Life Insurance (“BOLl”) The Company purchases bank owned life insurance as a mechanism for funding various employee benefit costs. The Company is the beneficiary of these policies that insure the lives of certain officers of its subsidiaries. The Company has recognized the cash surrender value under the insurance policies as an asset in the Consolidated Balance Sheets. Changes in the cash surrender value are recorded in non-interest income in the Consolidated Statements of Income. Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the expected useful lives of the related assets that range from three thirty-nine Intangible Assets Intangible assets on the consolidated balance sheets represent the acquisition by Quaint Oak Insurance Agency of the renewal rights to a book of business on August 1, 2016 $1.0 $515,000 $485,000 ten The Company will complete a goodwill and other intangible asset analysis at least on an annual basis or more often if events and circumstances indicate that there may Other Real Estate Owned Other real estate owned or foreclosed assets are comprised of property acquired through a foreclosure proceeding or acceptance of a deed in lieu of foreclosure and loans classified as in-substance foreclosures. A loan is classified as in-substance foreclosure when the Bank has taken possession of the collateral regardless of whether formal foreclosure proceedings take place. Other real estate properties are initially recorded at fair value, net of estimated selling costs at the date of foreclosure, establishing a new cost basis. After foreclosure, valuations are periodically performed by management and the real estate is carried at the lower of cost or fair value less estimated costs to sell. Net revenue and expenses from operations and additions to the valuation allowance are included in other expenses. At December 31, 2018 one $1.7 no December 31, 2017. Advertising Costs The Company expenses all advertising costs as incurred. Advertising costs are included in non-interest expense on the Consolidated Statements of Income. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not December 22, 2017, 2017. 34% 21%. The Company follows guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. A tax position is recognized as a benefit only if it is more likely than not 50 not not no no December 31, 2018 2017. no January 1, 2015. Comprehensive Income (Loss) Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the stockholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). Treasury Stock and Unallocated Common Stock The acquisition of treasury stock by the Company, including unallocated stock held by certain benefit plans, is recorded under the cost method. At the date of subsequent reissue, treasury stock is reduced by the cost of such stock on a first first Share-Based Compensation Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost is measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock option and restricted share plans. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options, while the closing price of the Company’s common stock on the grant date is used for restricted stock awards. At December 31, 2018, two 2013 2018 May 2013 2018. 14. The Company also has an employee stock ownership plan (“ESOP”). This plan is more fully described in Note 14. Earnings Per Share 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, exclusive of unearned ESOP shares, unvested restricted stock (RRP) shares and treasury shares. Stock options and unvested restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent they would have a dilutive effect if converted to common stock, computed using the “treasury stock” method. Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“Topic 606” 606, not not 606. Service Charges on Deposits Insurance Commissions : not one no Off-Balance Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded. Reclassifications Certain items in the 2017 2018 not Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers December 15, 2016, January 1, 2018. not no not 606. In January 2016, 2016 01, Financial Instruments – Overall (Subtopic 825 10 not The Bank has adopted this standard effective January 1, 2018. 18 820 10, no On February 14, 2018, ASU 2018 02 220 H.R.1, 2018 The Company elected to early adopt this accounting standard, which provides a benefit to the financial statements by more accurately aligning the impacts of the items carried in accumulated other comprehensive income with the associated tax effect. The adoption was applied on a modified retrospective basis and resulted in a one $2,000 December 31, 2017. no Recent Accounting Pronouncements Not In February 2016, 2016 02, Leases (Topic 842 one 12 not may December 15, 2018, may not 1% In September 2016, 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments 2016 13 December 15, 2019, December 15, 2018. first one first one In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2019. not In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not In January 2018, 2018 01, Leases (Topic 842 not 842 not 840. 842 842; 842 2016 02. not In July 2018, 2018 09, Codification Improvements not December 15, 2018, not In July 2018, 2018 10 , Codification Improvements to Topic 842, 2016 02, not 842, 842. not 842, 842. not In July 2018, 2018 11, Leases (Topic 842 842 840, may not 606, 842. December 15, 2018, December 15, 2019, December 15, 2020. not In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019. not In November, 2018, 2018 19, Codification Improvements to Topic 326, 2016 13 December 15, 2021, 2016 13 December 15, 2019, December 15, 2020, December 15, 2021, not 326 20. 842, 2018 19 2016 13, 2018 19. not In December 2018, 2018 20, Leases (Topic 842 2016 02, 1 2 3 2016 02, not 2016 02 January 1, 2019, not |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 3 – Earnings Per Share Earnings per share (“EPS”) consists of two not December 31, 2018 2017, The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computations. For the Year Ended December 31, 201 8 201 7 Net Income $ 2,004,000 $ 1,467,000 Weighted average shares outstanding – basic 1,923,491 1,857,457 Effect of dilutive common stock equivalents 59,507 137,375 Adjusted weighted average shares outstanding – diluted 1,982,998 1,994,832 Basic earnings per share $ 1.04 $ 0.79 Diluted earnings per share $ 1.01 $ 0.74 |
Note 4 - Accumulated Other Comp
Note 4 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 4 – Accumu lated Other Comprehensive Loss The following table presents the changes in accumulated other comprehensive loss by component, net of tax, for the years ended December 31, 2018 2017 Unrealized Losses on Investment Securities Available for Sale (1) 201 8 201 7 Balance beginning of the year $ (15 ) $ (38 ) Other comprehensive income before reclassifications 13 25 Amount reclassified from accumulated other comprehensive loss -- -- Total other comprehensive income 13 25 Reclassification of certain income tax effects from accumulated other comprehensive income -- (2 ) Balance end of the year $ (2 ) $ (15 ) ________________________ ( 1 All amounts are net of tax. Amounts in parentheses indicate debits. |
Note 5 - Investment in Interest
Note 5 - Investment in Interest-earning Time Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Investments and Other Noncurrent Assets [Text Block] | Note 5 The investment in interest-earning time deposits as of December 31, 2018 2017, 2018 20 1 7 Due in one year or less $ 1,604 $ 761 Due after one year through five years 3,323 4,118 Total $ 4,927 $ 4,879 |
Note 6 - Investment Securities
Note 6 - Investment Securities Available for Sale | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 6 The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale at December 31, 2018 2017 December 31, 201 8 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 4,844 $ 29 $ -- $ 4,873 Federal Home Loan Mortgage Corporation securities 1,111 -- (29 ) 1,082 Federal National Mortgage Association securities 367 -- -- 367 Total mortgage-backed securities 6,322 29 (29 ) 6,322 Debt securities: U.S. government agency 360 -- (2 ) 358 Total available-for-sale-securities $ 6,682 $ 29 $ (31 ) $ 6,680 December 31, 201 7 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,624 $ 19 $ -- $ 5,643 Federal Home Loan Mortgage Corporation securities 1,377 -- (35 ) 1,342 Federal National Mortgage Association securities 570 -- -- 570 Total mortgage-backed securities 7,571 19 (35 ) 7,555 Debt securities: U.S. government agency 360 -- (3 ) 357 Total available-for-sale-securities $ 7,931 $ 19 $ (38 ) $ 7,912 The amortized cost and fair value of mortgage-backed and debt securities at December 31, 2018, may Available for Sale Amortized Cost Fair Value Due after one year through five years $ 360 $ 358 Due after ten years 6,322 6,322 Total $ 6,682 $ 6,680 The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2018 2017 December 31 , 201 8 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Federal Home Loan Mortgage Corporation mortgage-backed securities 2 $ -- $ -- $ 1,082 $ (29 ) $ 1,082 $ (29 ) Debt securities, U.S. government agency 1 -- -- 358 (2 ) 358 (2 ) Total 3 $ -- $ -- $ 1,440 $ (31 ) $ 1,440 $ (31 ) December 31 , 201 7 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Federal Home Loan Mortgage Corporation mortgage-backed securities 2 $ -- $ -- $ 1,342 $ (35 ) $ 1,342 $ (35 ) Debt securities, U.S. government agency 1 -- -- 357 (3 ) 357 (3 ) Total 3 $ -- $ -- $ 1,699 $ (38 ) $ 1,699 $ (38 ) At December 31, 2018, three 2.12% may not December 31, 2018 no December 31, 2018 2017. |
Note 7 - Loans Receivable, Net
Note 7 - Loans Receivable, Net and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 7 - Loans Receivable, Net and Allowance for Loan Losses The composition of net loans receivable is as follows (in thousands): December 31 , 20 18 December 31, 20 1 7 Real estate loans: One-to-four family residential: Owner occupied $ 6,603 $ 5,681 Non-owner occupied 47,361 51,833 Total one-to-four family residential 53,964 57,514 Multi-family (five or more) residential 23,967 21,715 Commercial real estate 103,819 92,234 Construction 9,998 15,632 Home equity 4,347 5,129 Total real estate loans 196,095 192,224 Commercial business 23,616 11,954 Other consumer 19 138 Total Loans 219,730 204,316 Deferred loan fees and costs (867 ) (837 ) Allowance for loan losses (1,965 ) (1,812 ) Net Loans $ 216,898 $ 201,667 The following tables present the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system as of December 31, 2018 2017 December 31, 201 8 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,421 $ -- $ 182 $ -- $ 6,603 One-to-four family residential non-owner occupied 46,534 -- 827 -- 47,361 Multi-family residential 23,967 -- -- -- 23,967 Commercial real estate 101,821 -- 1,998 -- 103,819 Construction 9,998 -- -- -- 9,998 Home equity 4,347 -- -- -- 4,347 Commercial business 23,149 -- 467 -- 23,616 Other consumer 19 -- -- -- 19 Total $ 216,256 $ -- $ 3,374 $ -- $ 219,730 December 31, 20 1 7 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 5,258 $ 423 $ -- $ -- $ 5,681 One-to-four family residential non-owner occupied 51,372 29 432 -- 51,833 Multi-family residential 21,715 -- -- -- 21,715 Commercial real estate 91,549 399 286 -- 92,234 Construction 13,563 -- 2,069 -- 15,632 Home equity 5,129 -- -- -- 5,129 Commercial business 11,419 535 -- -- 11,954 Other consumer 138 -- -- -- 138 Total $ 200,143 $ 1,386 $ 2,787 $ -- $ 204,316 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not December 31, 2018 December 31 , 20 1 8 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 182 $ 185 $ -- $ 417 $ 23 One-to-four family residential non-owner occupied 265 265 -- 324 17 Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- -- -- Construction -- -- -- 2,050 37 Home equity -- -- -- 44 2 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 68 68 50 162 4 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 5 133 10 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ 182 185 $ -- $ 417 $ 23 One-to-four family residential non-owner occupied 333 333 50 486 21 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 5 133 10 Construction -- -- -- 2,050 37 Home equity -- -- -- 44 2 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 648 $ 651 $ 55 $ 3,130 $ 93 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not December 31, 2017 December 31, 20 1 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 442 442 -- 937 24 Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- 398 38 Construction 2,069 2,069 -- 2,064 58 Home equity 45 45 -- 47 5 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 214 214 70 214 5 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 1 395 9 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 656 656 70 1,151 29 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 1 793 47 Construction 2,069 2,069 -- 2,064 58 Home equity 45 45 -- 47 5 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 2,903 $ 2,903 $ 71 $ 4,055 $ 139 The loan portfolio also includes certain loans that have been modified in a troubled debt restructuring, where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from loss mitigation activities and could include reductions in the interest rate, payment extensions, forbearance, or other actions. At December 31, 2018, two $398,000 December 31, 2018, no six December 31, 2017, eight $714,000 eight not six The following tables present the Company’s TDR loans as of December 31, 2018 2017 December 31, 201 8 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 1 265 -- 265 -- Multi-family residential -- -- -- -- -- Commercial real estate 1 133 -- 133 5 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 2 $ 398 $ -- $ 398 $ 5 December 31, 20 17 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 5 536 -- 536 25 Multi-family residential -- -- -- -- -- Commercial real estate 1 133 -- 133 1 Construction -- -- -- -- -- Home equity 2 45 -- 45 -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 8 $ 714 $ -- $ 714 $ 26 The contractual aging of the TDRs in the tables above as of December 31, 2018 2017 December 31 , 201 8 Accruing Past Due Less than 30 Days Past Due 30-89 Days Greater than 90 Days Non- Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 265 -- -- -- 265 Multi-family residential -- -- -- -- -- Commercial real estate 133 -- -- -- 133 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 398 $ -- $ -- $ -- $ 398 December 31, 201 7 Accruing Past Due Less than 30 Days Past Due 30-89 Days Greater than 90 Days Non- Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 536 -- -- -- 536 Multi-family residential -- -- -- -- -- Commercial real estate 133 -- -- -- 133 Construction -- -- -- -- -- Home equity 45 -- -- -- 45 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 714 $ -- $ -- $ -- $ 714 Any reserve for an impaired TDR loan is based upon the present value of the future expected cash flows discounted at the loan’s original effective rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. At December 31, 2018 no The general practice of the Bank is to work with borrowers so that they are able to pay back their loan in full. If a borrower continues to be delinquent or cannot meet the terms of a TDR modification and the loan is determined to be uncollectible, the loan will be charged off. Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the year ended December 31, 2018 December 31, 2018 ( December 31 , 201 8 1-4 Family Residential Owner Occupied 1-4 Family Residential Non- Owner Occupied Multi- Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Charge-offs -- (47 ) -- -- (215 ) -- -- -- (262 ) Recoveries -- -- -- -- -- -- -- -- -- Provision 3 (58 ) 4 152 254 (6 ) 107 (41 ) 415 Ending balance $ 51 $ 435 $ 156 $ 839 $ 175 $ 21 $ 247 $ 41 $ 1,965 Ending balance evaluated for impairment: Individually $ -- $ 50 $ -- $ 5 $ -- $ -- $ -- $ -- $ 55 Collectively $ 51 $ 385 $ 156 $ 834 $ 175 $ 21 $ 247 $ 41 $ 1,910 Loans receivable: Ending balance $ 6,603 $ 47,361 $ 23,967 $ 103,819 $ 9,998 $ 4,347 $ 23,635 $ 219,730 Ending balance evaluated for impairment: Individually $ 182 $ 333 $ -- $ 133 $ -- $ -- $ -- $ 648 Collectively $ 6,421 $ 47,028 $ 23,967 $ 103,686 $ 9,998 $ 4,347 $ 23,635 $ 219,082 The Bank allocated increased allowance for loan loss provisions to the construction loan portfolio class for the year ended December 31, 2018, December 31, 2018, December 31, 2018, 1 4 December 31, 2018, Following is a summary, by loan portfolio class, of changes in the allowance for loan losses for the year ended December 31, 2017 December 31, 2017 ( December 31, 201 7 1-4 Family Residential Owner Occupied 1-4 Family Residential Non- Owner Occupied Multi- Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 41 $ 503 $ 103 $ 616 $ 138 $ 37 $ 87 $ 80 $ 1,605 Charge-offs -- (56 ) -- (24 ) -- -- -- -- (80 ) Recoveries -- -- -- 3 -- -- -- -- 3 Provision 7 93 49 92 (2 ) (10 ) 53 2 284 Ending balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Ending balance evaluated for impairment: Individually $ -- $ 70 $ -- $ 1 $ -- $ -- $ -- $ -- $ 71 Collectively $ 48 $ 470 $ 152 $ 686 $ 136 $ 27 $ 140 $ 82 $ 1,741 Loans receivable: Ending balance $ 5,681 $ 51,833 $ 21,715 $ 92,234 $ 15,632 $ 5,129 $ 12,092 $ 204,316 Ending balance evaluated for impairment: Individually $ -- $ 656 $ -- $ 133 $ 2,069 $ 45 $ -- $ 2,903 Collectively $ 5,681 $ 51,177 $ 21,715 $ 92,101 $ 13,563 $ 5,084 $ 12,092 $ 201,413 The Bank allocated increased allowance for loan loss provisions to the commercial real estate, commercial business, and multi-family portfolio classes for the year ended December 31, 2017, 1 4 December 31, 2017, The following table presents non-accrual loans by classes of the loan portfolio as of December 31, 2018 2017 December 31, 201 8 December 31, 201 7 One-to-four family residential owner occupied $ 182 $ -- One-to-four family residential non-owner occupied 68 120 Multi-family residential -- -- Commercial real estate -- -- Construction -- 2,069 Home equity -- -- Commercial business -- -- Other consumer -- -- Total $ 250 $ 2,189 Non-performing loans, which consist of non-accruing loans plus accruing loans 90 $1.2 $3.1 December 31, 2018 2017, For the years ended December 31, 2018 2017 no $16,000 $119,000 December 31, 2018 2017, The performance and credit quality of the loan portfolio are also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the past due status as of December 31, 2018 2017 December 31 , 201 8 30- 89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing One-to-four family residential owner occupied $ 1,096 $ 182 $ 1,278 $ 5,325 $ 6,603 $ -- One-to-four family residential non-owner occupied 1,259 68 1,327 46,034 47,361 -- Multi-family residential 371 -- 371 23,596 23,967 -- Commercial real estate 2,070 548 2,618 101,201 103,819 548 Construction 2,231 -- 2,231 7,767 9,998 -- Home equity 31 -- 31 4,316 4,347 -- Commercial business 3 380 383 23,233 23,616 380 Other consumer -- -- -- 19 19 -- Total $ 7,061 $ 1,178 $ 8,239 $ 211,491 $ 219,730 $ 928 December 31, 2017 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 670 $ 423 $ 1,093 $ 4,588 $ 5,681 $ 423 One-to-four family residential non-owner occupied 969 337 1,306 50,527 51,833 217 Multi-family residential 313 - 313 21,402 21,715 - Commercial real estate 505 241 746 91,488 92,234 241 Construction 407 2,069 2,476 13,156 15,632 - Home equity 51 - 51 5,078 5,129 - Commercial business - - - 11,954 11,954 - Other consumer - - - 138 138 - Total $ 2,915 $ 3,070 $ 5,985 $ 198,331 $ 204,316 $ 881 |
Note 8 - Premises and Equipment
Note 8 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 8 The components of premises and equipment at December 31, 2018 2017 2018 2017 Land and land improvements $ 298 $ 299 Buildings 1,456 1,316 Leasehold improvements 439 436 Furniture, fixtures and equipment 1,311 1,180 3,504 3,231 Accumulated depreciation (1,446 ) (1,243 ) Premises and equipment, net $ 2,058 $ 1,988 Depreciation expense for the years ended December 31, 2018 2017 $202,000 $192,000, The Company leases its office at 501 $165,000 $151,000 December 31, 2018 2017, |
Note 9 - Goodwill and Other Int
Note 9 - Goodwill and Other Intangible, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 9 – Goodwill and Other Intangible, Net On August 1, 2016, $1.0 $515,000 $485,000 ten December 31, 2018 $368,000, $117,000. December 31, 2018 2017 $48,000 $49,000, Estimated amortization expense of other intangible for each of the next five 2019 $ 49 2020 49 2021 49 2022 49 2023 49 Thereafter 123 Total $ 368 |
Note 10 - Deposits
Note 10 - Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 10 Deposits and the weighted average interest rate at December 31, 2018 2017 2018 2017 Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Non-interest bearing checking accounts $ 17,542 -- % $ 7,956 -- % Passbook accounts 192 0.15 463 0.15 Savings accounts 1,120 0.20 2,353 0.22 Money market accounts 26,841 0.80 30,411 0.79 Certificate of deposit accounts 166,216 2.10 145,038 1.77 Total $ 211,911 1.69 % $ 186,221 1.47 % A summary of certificates of deposit by maturity at December 31, 2018 Years ending December 31: 2019 $ 47,190 2020 65,451 2021 29,512 2022 8,932 2023 15,131 Total $ 166,216 The aggregate amount of certificates of deposit with a minimum denomination of $250,000 $25.7 $18.5 December 31, 2018 2017, |
Note 11 - Borrowings
Note 11 - Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 11 As of December 31, 2018, $129.1 $24.0 $28.0 December 31, 2018 2017, December 31, 2018, $813,000 no December 31, 2018 2017. Federal Home Loan Bank short-term borrowings and the weighted interest rate consist of the following at December 31, 2018 2017 At or For the Year Ended December 31, 201 8 201 7 FHLB short-term borrowings: Average balance outstanding $ 9,745 $ 8,654 Maximum amount outstanding at any month-end during the period 10,000 11,500 Balance outstanding at end of period 9,000 10,000 Average interest rate during the period 2.02 % 1.17 % Weighted average interest rate at end of period 2.62 % 1.54 % Federal Home Loan Bank long-term borrowings and the weighted interest rate consist of the following at December 31, 2018 2017 December 31, 201 8 December 31, 201 7 Fixed rate borrowings maturing: Amount Weighted Interest Amount Weighted Interest 2018 $ -- - % $ 3,000 1.46 % 2019 3,000 1.86 3,000 1.86 2020 2,000 2.00 2,000 2.00 2021 3,000 2.05 3,000 2.05 2022 3,000 2.18 3,000 2.18 2023 3,000 2.33 3,000 2.33 2024 1,000 2.54 1,000 2.54 Total FHLB long-term debt $ 15,000 2.12 % $ 18,000 2.01 % |
Note 12 - Subordinated Debt
Note 12 - Subordinated Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | Note 12 On December 27, 2018, $8.0 December 31, 2028, 6.50%. may, December 31, 2023, The balance and unamortized issuance costs of subordinated debt at December 31, 2018 Principal Unamortized Debt Issuance Costs Net 6.5% subordinated notes, due December 31, 2028 $ 8,000 $ 169 $ 7,831 All subordinated notes are not |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 13 On December 22, 2017, 2017. 34% 21%. $297,000 December 31, 2017. The components of income tax expense for the years ended December 31, 2018 2017 201 8 201 7 Federal: Current $ 507 $ 911 Deferred (26 ) (65 ) Change in corporate tax rate -- 297 Total federal 481 1,143 State, current 186 62 Total $ 667 $ 1,205 The following table presents the reconciliation between the reported income tax expense and the income tax expense which would be computed by applying the normal federal income tax rate of 21% 34% December 31, 2018 2017, 201 8 201 7 Federal income tax at statutory rate $ 560 $ 907 State tax, net of federal benefit 151 42 Stock compensation expense (33 ) (21 ) Change in corporate tax rate -- 297 Other (11 ) (20 ) Total $ 667 $ 1,205 The components of the net deferred tax asset at December 31, 2018 2017 20 1 8 20 1 7 Deferred tax assets: Allowance for loan losses $ 413 $ 380 Stock-based compensation 7 13 Interest on non-accrual loans 2 5 Unrealized loss on investment securities available for sale -- 4 Deferred loan fees 182 176 Organization cost 1 1 Total deferred tax assets 605 579 Deferred tax liabilities: Bank premises and equipment (93 ) (94 ) Intangible (9 ) (5 ) Total deferred tax liabilities (102 ) (99 ) Net Deferred Tax Asset $ 503 $ 480 The net deferred tax asset at December 31, 2018 2017 $503,000 $480,000, No December 31, 2018 2017, |
Note 14 - Stock Compensation Pl
Note 14 - Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 1 4 – Stock Compensation Plans Employee Stock Ownership Plan The Company maintains an Employee Stock Ownership Plan (ESOP) for the benefit of employees who meet the eligibility requirements of the plan. Using proceeds from a loan from the Company, the ESOP purchased 8%, 222,180 2007. 7.75% 15 Shares of the Company’s common stock purchased by the ESOP are held in a suspense account and reported as unallocated common stock held by the ESOP in stockholders’ equity until released for allocation to participants. As the debt is repaid, shares are released from collateral and are allocated to each eligible participant based on the ratio of each such participant’s base compensation to the total base compensation of eligible plan participants. As the unearned shares are committed to be released and allocated among participants, the Company recognizes compensation expense equal to the average market value of the shares, and the shares become outstanding for earnings per share computations. During the years ended December 31, 2018 2017, $192,000 $185,000 The following table represents the components of the ESOP shares at December 31, 2018 2017: 2018 2017 Allocated shares 179,637 167,643 Unreleased shares 39,677 52,956 Total ESOP shares 219,314 220,599 Fair value of unreleased shares (in thousands) $ 469 $ 688 Recognition and Retention and Stock Incentive Plan s In May 2008, 2008 2008 111,090 $4.68 $520,000. May 8, 2018 December 31, 2018 no May 2013, 2013 “2013 2013 May 2013 195,000 48,750, 25%, may 146,250 May 2018, 2018 “2018 2018 May 2018 155,000 38,750, 25%, may 116,250 As of December 31, 2018, 48,608 2013 2018 11,750 2018 none 2013 2013 2018 five A summary of the status of the shares awarded under the RRP and the 2013 2018 December 31, 2018 2017 December 31, 2018 2017 2018 2017 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the year 10,061 $ 8.10 20,524 $ 8.10 Granted 48,608 13.30 -- -- Vested (9,661 ) 8.10 (10,263 ) 8.10 Forfeited (400 ) 8.10 (200 ) 8.10 Unvested at the end of the year 48,608 $ 13.30 10,061 $ 8.10 Compensation expense on the restricted stock awards is recognized ratably over the five December 31, 2018 2017, $107,000 $84,000 $22,000 $29,000 December 31, 2018 2017, December 31, 2018, $566,000 4.4 Stock Options In May 2008, 2008 May 2013, 2013 “2013 277,726 no February 13, 2018, 2013 2013 May 2013 195,000 48,750, 25%, may 146,250 May 2018, 2018 “2018 2018 May 2018 155,000 38,750, 25%, may 116,250 For grants in May 2008, $5.00 May 2008 May 2018. 422 As of December 31, 2018, 279,836 37,250 none five ten A summary of option activity under the Company’s Option Plan and Stock Incentive Plan for the years ended December 31, 2018 2017 December 31, 2018 2017 201 8 2017 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the year 265,302 $ 6.74 3.2 316,348 $ 6.49 3.8 Granted 136,636 13.30 9.4 -- -- -- Exercised (106,844 ) 5.00 -- (45,534 ) 5.00 -- Forfeited (15,258 ) 6.22 -- (5,512 ) 6.89 -- Outstanding at the end of the period 279,836 $ 10.64 6.8 265,302 $ 6.74 3.2 Exercisable at the end of the period 143,200 $ 8.10 4.4 235,462 $ 6.57 2.9 The estimated fair value of the options granted in May 2018 $1.75 Expected dividend yield 2.11 % Risk-free interest rate 2.96 % Expected life of options (in years) 6.5 Expected stock-price volatility 12.42 % The dividend yield was calculated on the dividend amount and stock price existing at the grant date. The risk free interest rate used was based on the rates of United States Treasury securities with maturities equal to the expected lives of the options. Although the contractual term of the options granted is ten may At December 31, 2018, $330,000 $533,000. December 31, 2017, $1.7 $1.5 December 31, 2018 December 31, 2017. During the years ended December 31, 2018 2017, $41,000 $45,000 $1,000 $4,000 December 31, 2018 2017. December 31, 2018, $193,000 4.4 |
Note 15 - Transactions With Exe
Note 15 - Transactions With Executive Officers and Directors | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 15 Certain directors and executive officers of the Company, their families and their affiliates are customers of the Bank. Any transactions with such parties, including loans and commitments, are in the ordinary course of business at normal terms, including interest rate and collateralization, prevailing at the time and do not None December 31, 2018 2017, |
Note 16 - Financial Instruments
Note 16 - Financial Instruments With Off-balance Sheet Risk | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 16 The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. A summary of the Company's financial instrument commitments at December 31, 2018 2017 2018 2017 Commitments to originate loans $ 17,593 $ 15,921 Unfunded commitments under lines of credit 14,569 19,162 Standby letters of credit 83 183 Commitments to extend credit are agreements to lend to a customer as long as there is no may not may The Company leases its office at 501 one 10 Future minimum annual rental payments required under non-cancelable operating leases are as follows (in thousands): Year Rental Amount 2019 $ 102 2020 100 2021 101 2022 53 2023 38 Thereafter 138 Total $ 532 |
Note 17 - Regulatory Matters
Note 17 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 17 The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth below) of total, Tier 1, 1 1 December 31, 2018, In July 2013 January 1, 2019. 1 1 1 4.5% January 1, 2015. 1 4.0% 6.0% January 1, 2015. 2.5% January 1, 2016 January 1, 2019. 100% 150% 90 1 1 Bank holding companies are generally subject to statutory capital requirements, which were implemented by certain of the new capital regulations described above that became effective on January 1, 2015. On December 27, 2018, $8.0 12 $6.5 1 December 31, 2018 no December 31, 2018 not The Bank’s actual capital amounts and ratios at December 31, 2018 2017 Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 20 1 8 : Total capital (to risk-weighted assets) $ 29,778 15.49 % $ > > % $ > > % Tier 1 capital (to risk-weighted assets) 27,786 14.45 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 27,786 14.45 > > > > Tier 1 capital (to average assets) 27,786 10.92 > > > > Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 20 17 : Total capital (to risk-weighted assets) $ 21,674 12.31 % $ > > % $ > > % Tier 1 capital (to risk-weighted assets) 19,835 11.26 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 19,835 11.26 > > > > Tier 1 capital (to average assets) 19,835 8.54 > > > > Under the Dodd-Frank Wall Street Reform and Consumer Protection Act the Board of Governors of the Federal Reserve System as the primary regulator for the Company is authorized to extend leverage capital requirements and risk based capital requirements applicable to depository institutions and bank holding companies to thrift holding companies. Legislation adopted in late 2014 Banking regulations place certain restrictions on dividends paid by the Bank to the Company. The Company is dependent upon dividends from the Bank to provide funds for the payment of dividends to the Company’s shareholders, interest payments on the subordinated debt and other general corporate purposes. The Bank’s ability to pay cash dividends directly or indirectly to the Company is governed by federal law, regulations and related guidance. These include the requirement that the Bank must receive approval to declare a dividend if the total amount of all dividends, including the proposed dividend, declared by the Bank in any current year exceeds the total of the Bank’s net income for the current year to date, combined with its retained net income for the previous two The Bank may not may In 2018 2017, $750,000 $250,000, December 31, 2018, December 31, 2018 2017 $2.6 |
Note 18 - Fair Value Measuremen
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 18 Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair values estimates may not not may Fair value is determined at one not not not not The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Valuations derived from valuation techniques in which one This hierarchy requires the use of observable market data when available. The methods of determining the fair value if assets and liabilities presented in this note are consistent with our methodologies disclosed in Note 17 2017 10 2016 01. 2016 01, 3 The following is a discussion of assets and liabilities measured at fair value on a recurring and non-recurring basis and valuation techniques applied: Investment Securities Available For Sale: 1 2 We may Impaired Loans: 3 Other Real Estate Owned: 3 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2018 ( Dec ember 3 1 , 201 8 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 4,873 $ -- $ 4,873 $ -- Federal Home Loan Mortgage Corporation mortgage-backed securities 1,082 -- 1,082 -- Federal National Mortgage Association mortgage- backed securities 367 -- 367 -- Debt securities, U.S. government agency 358 -- 358 -- Total investment securities available for sale $ 6,680 $ -- $ 6,680 $ -- Total recurring fair value measurements $ 6,680 $ -- $ 6,680 $ -- Nonrecurring fair value measurements Impaired loans $ 593 $ -- $ -- $ 593 Other Real Estate Owned 1,650 -- -- 1,650 Total nonrecurring fair value measurements $ 2,243 $ -- $ -- $ 2,243 The table below sets forth the financial assets and liabilities that were accounted for on a recurring and nonrecurring basis by level within the fair value hierarchy as of December 31, 2017 ( Dec ember 3 1, 201 7 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,643 $ -- $ 5,643 $ -- Federal Home Loan Mortgage Corporation mortgage-backed securities 1,342 -- 1,342 -- Federal National Mortgage Association mortgage- backed securities 570 -- 570 -- Debt securities, U.S. government agency 357 -- 357 -- Total investment securities available for sale $ 7,912 $ -- $ 7,912 $ -- Total recurring fair value measurements $ 7,912 $ -- $ 7,912 $ -- Nonrecurring fair value measurements Impaired loans $ 2,832 $ -- $ -- $ 2,832 Total nonrecurring fair value measurements $ 2,832 $ -- $ -- $ 2,832 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has used Level 3 December 31, 2018 2017 December 31 , 201 8 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 648 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 73% (8%) Other real estate owned $ 1,650 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 12% (12%) December 31 , 201 7 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 2,832 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 27% (1%) ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 ( 2 Appraisals may The estimated fair values of the Company’s financial instruments that are not December 31, 2018 2017 Fair Value Measurements at December 31, 201 8 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 4,927 $ 4,927 $ -- $ -- $ 4,927 Loans held for sale 5,103 5,254 -- 5,254 -- Loans receivable, net 216,898 214,351 -- -- 214,351 Financial Liabilities Deposits 211,911 212,320 45,695 -- 166,625 FHLB long-term borrowings 15,000 14,973 -- -- 14,973 Subordinated debt 7,831 7,831 -- -- 7,831 Fair Value Measurements at December 31, 201 7 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 4,879 $ 4,912 $ -- $ -- $ 4,912 Loans held for sale 7,006 7,232 -- 7,232 -- Loans receivable, net 201,667 202,803 -- -- 202,803 Financial Liabilities Deposits 186,221 187,309 41,183 -- 146,126 FHLB long-term borrowings 18,000 16,982 -- -- 16,982 For cash and cash equivalents, accrued interest receivable, investment in FHLB stock, bank-owned life insurance, FHLB short-term borrowings, and accrued interest payable, the carrying value is a reasonable estimate of the fair value and are considered Level 1 |
Note 19 - Quaint Oak Bancorp, I
Note 19 - Quaint Oak Bancorp, Inc. (Parent Company Only) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 1 9 – Quaint Oak Bancorp, Inc. (Parent Company Only) Condensed financial statements of Quaint Oak Bancorp, Inc. are as follows (in thousands): Balance Sheets December 31, 2018 2017 Assets Cash and cash equivalents $ 1,596 $ 211 Investment in Quaint Oak Bank 28,454 20,552 Premises and equipment, net 1,588 1,423 Other assets 29 10 Total Assets $ 31,667 $ 22,196 Liabilities and Stockholders’ Equity Subordinated debt $ 7,831 $ -- Other liabilities -- 11 Stockholders’ equity 23,836 22,185 Total Liabilities and Stockholders’ Equity $ 31,667 $ 22,196 Statements of Income For the Year Ended December 31, 2018 2017 Income Dividends from subsidiary $ 750 $ 250 Rental income 151 149 Total Income 901 399 Expenses Occupancy and equipment expense 116 101 Interest on subordinated debt 7 -- Other expenses 116 96 Total Expenses 239 197 Net Income Before Income Taxes 662 202 Equity in Undistributed Net Income of Subsidiary 1,324 1,246 Income Tax Benefit 18 19 Net Income $ 2,004 $ 1,467 Comprehensive Income $ 2,017 $ 1,492 Statements of Cash Flows For the Year Ended December 31, 2018 2017 Operating Activities Net income $ 2,004 $ 1,467 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed net income in subsidiary (1,324 ) (1,246 ) Depreciation expense 44 38 Stock-based compensation expense 340 314 Increase in other assets (84 ) (13 ) Decrease in other liabilities (11 ) (5 ) Net cash provided by operating activities 969 555 Investing Activities Investment in subsidiary (6,500 ) -- Purchase of property and equipment (209 ) (139 ) Net cash used in investing activities (6,709 ) (139 ) Financing Activities Net proceeds from the issuance of subordinated debt 7,831 -- Dividends paid (511 ) (364 ) Purchase of treasury stock (793 ) (347 ) Proceeds from the reissuance of treasury stock 64 94 Proceeds from the exercise of stock options 534 206 Net cash provided by (used in) financing activities 7,125 (411 ) Net Increase in Cash and Cash Equivalents 1,385 5 Cash and Cash Equivalents-Beginning of Year 211 206 Cash and Cash Equivalents-End of Year $ 1,596 $ 211 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Company’s most significant estimates are the determination of the allowance for loan losses and valuation of deferred tax assets. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Significant Group Concentrations of Credit Risk The Bank has a significant concentration of loans in Philadelphia County, Pennsylvania. The concentration of credit by type of loan is set forth in Note 7. December 31, 2018, one 53% 53% |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include non-interest earning and interest-earning demand deposits and money market accounts with various financial institutions, all of which mature within ninety |
Investment, Policy [Policy Text Block] | Investment Securities Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Securities classified as available for sale are those securities that the Company intends to hold for an indefinite period of time but not Securities classified as held to maturity are those debt securities the Company has both the intent and ability to hold to maturity regardless of the changes in market conditions, liquidity needs, or changes in general economic conditions. These securities are carried at cost adjusted for amortization of premium and accretion of discount, which are recognized in interest income using the interest method over the terms of the securities. The Company follows the accounting guidance related to recognition and presentation of other-than-temporary impairment. This accounting guidance specifies that (a) if a company does not not not not not not not no December 31, 2018 2017. |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock Federal law requires a member institution of the Federal Home Loan Bank (FHLB) system to hold restricted stock of its district Federal Home Loan Bank according to a predetermined formula. FHLB stock is carried at cost and evaluated for impairment. When evaluating FHLB stock for impairment, its value is determined based on the ultimate recoverability of the par value of the stock. We evaluate our holdings of FHLB stock for impairment each reporting period. No December 31, 2018 2017. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans Receivable Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of an allowance for loan losses and any deferred fees. Interest income is accrued on the unpaid principal balance. Loan origination fees and costs are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Bank is generally amortizing these amounts over the contractual life of the loan. The loans receivable portfolio is segmented into residential loans, commercial real estate loans, construction loans, commercial business, and consumer loans. The residential loan segment has two one four one four five The accrual of interest is generally discontinued when principal or interest has become 90 no |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. Because all identified losses are immediately charged off, no The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may may The allowance consists of specific, general and unallocated components. The specific component relates to loans that are identified as impaired. For loans that are identified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These significant factors may A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A loan is considered a troubled debt restructuring (“TDR”) if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not For loans secured by real estate, estimated fair values are determined primarily through third The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for all loans (except one four $500,000, may not may may not |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale Loans originated by the Bank’s mortgage banking subsidiary, Quaint Oak Mortgage, LLC, are intended for sale in the secondary market and are carried at the lower of cost or fair value. Gains and losses on loan sales (sales proceeds minus carrying value) are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance (“BOLl”) The Company purchases bank owned life insurance as a mechanism for funding various employee benefit costs. The Company is the beneficiary of these policies that insure the lives of certain officers of its subsidiaries. The Company has recognized the cash surrender value under the insurance policies as an asset in the Consolidated Balance Sheets. Changes in the cash surrender value are recorded in non-interest income in the Consolidated Statements of Income. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the expected useful lives of the related assets that range from three thirty-nine |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets on the consolidated balance sheets represent the acquisition by Quaint Oak Insurance Agency of the renewal rights to a book of business on August 1, 2016 $1.0 $515,000 $485,000 ten The Company will complete a goodwill and other intangible asset analysis at least on an annual basis or more often if events and circumstances indicate that there may |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Other Real Estate Owned Other real estate owned or foreclosed assets are comprised of property acquired through a foreclosure proceeding or acceptance of a deed in lieu of foreclosure and loans classified as in-substance foreclosures. A loan is classified as in-substance foreclosure when the Bank has taken possession of the collateral regardless of whether formal foreclosure proceedings take place. Other real estate properties are initially recorded at fair value, net of estimated selling costs at the date of foreclosure, establishing a new cost basis. After foreclosure, valuations are periodically performed by management and the real estate is carried at the lower of cost or fair value less estimated costs to sell. Net revenue and expenses from operations and additions to the valuation allowance are included in other expenses. At December 31, 2018 one $1.7 no December 31, 2017. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses all advertising costs as incurred. Advertising costs are included in non-interest expense on the Consolidated Statements of Income. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not December 22, 2017, 2017. 34% 21%. The Company follows guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. A tax position is recognized as a benefit only if it is more likely than not 50 not not no no December 31, 2018 2017. no January 1, 2015. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the stockholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). |
Treasury Stock and Unallocated Common Stock [Policy Text Block] | Treasury Stock and Unallocated Common Stock The acquisition of treasury stock by the Company, including unallocated stock held by certain benefit plans, is recorded under the cost method. At the date of subsequent reissue, treasury stock is reduced by the cost of such stock on a first first |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost is measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock option and restricted share plans. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options, while the closing price of the Company’s common stock on the grant date is used for restricted stock awards. At December 31, 2018, two 2013 2018 May 2013 2018. 14. The Company also has an employee stock ownership plan (“ESOP”). This plan is more fully described in Note 14. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share 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, exclusive of unearned ESOP shares, unvested restricted stock (RRP) shares and treasury shares. Stock options and unvested restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent they would have a dilutive effect if converted to common stock, computed using the “treasury stock” method. |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“Topic 606” 606, not not 606. Service Charges on Deposits Insurance Commissions : not one no |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Off-Balance Sheet Financial Instruments In the ordinary course of business, the Bank has entered into off-balance sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain items in the 2017 2018 not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers December 15, 2016, January 1, 2018. not no not 606. In January 2016, 2016 01, Financial Instruments – Overall (Subtopic 825 10 not The Bank has adopted this standard effective January 1, 2018. 18 820 10, no On February 14, 2018, ASU 2018 02 220 H.R.1, 2018 The Company elected to early adopt this accounting standard, which provides a benefit to the financial statements by more accurately aligning the impacts of the items carried in accumulated other comprehensive income with the associated tax effect. The adoption was applied on a modified retrospective basis and resulted in a one $2,000 December 31, 2017. no Recent Accounting Pronouncements Not In February 2016, 2016 02, Leases (Topic 842 one 12 not may December 15, 2018, may not 1% In September 2016, 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments 2016 13 December 15, 2019, December 15, 2018. first one first one In January 2017, 2017 04, Simplifying the Test for Goodwill Impairment 2 2, not December 15, 2019. not In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not In January 2018, 2018 01, Leases (Topic 842 not 842 not 840. 842 842; 842 2016 02. not In July 2018, 2018 09, Codification Improvements not December 15, 2018, not In July 2018, 2018 10 , Codification Improvements to Topic 842, 2016 02, not 842, 842. not 842, 842. not In July 2018, 2018 11, Leases (Topic 842 842 840, may not 606, 842. December 15, 2018, December 15, 2019, December 15, 2020. not In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019. not In November, 2018, 2018 19, Codification Improvements to Topic 326, 2016 13 December 15, 2021, 2016 13 December 15, 2019, December 15, 2020, December 15, 2021, not 326 20. 842, 2018 19 2016 13, 2018 19. not In December 2018, 2018 20, Leases (Topic 842 2016 02, 1 2 3 2016 02, not 2016 02 January 1, 2019, not |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Year Ended December 31, 201 8 201 7 Net Income $ 2,004,000 $ 1,467,000 Weighted average shares outstanding – basic 1,923,491 1,857,457 Effect of dilutive common stock equivalents 59,507 137,375 Adjusted weighted average shares outstanding – diluted 1,982,998 1,994,832 Basic earnings per share $ 1.04 $ 0.79 Diluted earnings per share $ 1.01 $ 0.74 |
Note 4 - Accumulated Other Co_2
Note 4 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Losses on Investment Securities Available for Sale (1) 201 8 201 7 Balance beginning of the year $ (15 ) $ (38 ) Other comprehensive income before reclassifications 13 25 Amount reclassified from accumulated other comprehensive loss -- -- Total other comprehensive income 13 25 Reclassification of certain income tax effects from accumulated other comprehensive income -- (2 ) Balance end of the year $ (2 ) $ (15 ) |
Note 5 - Investment in Intere_2
Note 5 - Investment in Interest-earning Time Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Investments in Interest-Earning Time Deposits by Contractual Maturity [Table Text Block] | 2018 20 1 7 Due in one year or less $ 1,604 $ 761 Due after one year through five years 3,323 4,118 Total $ 4,927 $ 4,879 |
Note 6 - Investment Securitie_2
Note 6 - Investment Securities Available for Sale (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | December 31, 201 8 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 4,844 $ 29 $ -- $ 4,873 Federal Home Loan Mortgage Corporation securities 1,111 -- (29 ) 1,082 Federal National Mortgage Association securities 367 -- -- 367 Total mortgage-backed securities 6,322 29 (29 ) 6,322 Debt securities: U.S. government agency 360 -- (2 ) 358 Total available-for-sale-securities $ 6,682 $ 29 $ (31 ) $ 6,680 December 31, 201 7 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Available for Sale: Mortgage-backed securities: Governmental National Mortgage Association securities $ 5,624 $ 19 $ -- $ 5,643 Federal Home Loan Mortgage Corporation securities 1,377 -- (35 ) 1,342 Federal National Mortgage Association securities 570 -- -- 570 Total mortgage-backed securities 7,571 19 (35 ) 7,555 Debt securities: U.S. government agency 360 -- (3 ) 357 Total available-for-sale-securities $ 7,931 $ 19 $ (38 ) $ 7,912 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale Amortized Cost Fair Value Due after one year through five years $ 360 $ 358 Due after ten years 6,322 6,322 Total $ 6,682 $ 6,680 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31 , 201 8 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Federal Home Loan Mortgage Corporation mortgage-backed securities 2 $ -- $ -- $ 1,082 $ (29 ) $ 1,082 $ (29 ) Debt securities, U.S. government agency 1 -- -- 358 (2 ) 358 (2 ) Total 3 $ -- $ -- $ 1,440 $ (31 ) $ 1,440 $ (31 ) December 31 , 201 7 Less than Twelve Months Twelve Months or Greater Total Number of Fair Value Gross Fair Value Gross Fair Value Gross Federal Home Loan Mortgage Corporation mortgage-backed securities 2 $ -- $ -- $ 1,342 $ (35 ) $ 1,342 $ (35 ) Debt securities, U.S. government agency 1 -- -- 357 (3 ) 357 (3 ) Total 3 $ -- $ -- $ 1,699 $ (38 ) $ 1,699 $ (38 ) |
Note 7 - Loans Receivable, Ne_2
Note 7 - Loans Receivable, Net and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31 , 20 18 December 31, 20 1 7 Real estate loans: One-to-four family residential: Owner occupied $ 6,603 $ 5,681 Non-owner occupied 47,361 51,833 Total one-to-four family residential 53,964 57,514 Multi-family (five or more) residential 23,967 21,715 Commercial real estate 103,819 92,234 Construction 9,998 15,632 Home equity 4,347 5,129 Total real estate loans 196,095 192,224 Commercial business 23,616 11,954 Other consumer 19 138 Total Loans 219,730 204,316 Deferred loan fees and costs (867 ) (837 ) Allowance for loan losses (1,965 ) (1,812 ) Net Loans $ 216,898 $ 201,667 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 201 8 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 6,421 $ -- $ 182 $ -- $ 6,603 One-to-four family residential non-owner occupied 46,534 -- 827 -- 47,361 Multi-family residential 23,967 -- -- -- 23,967 Commercial real estate 101,821 -- 1,998 -- 103,819 Construction 9,998 -- -- -- 9,998 Home equity 4,347 -- -- -- 4,347 Commercial business 23,149 -- 467 -- 23,616 Other consumer 19 -- -- -- 19 Total $ 216,256 $ -- $ 3,374 $ -- $ 219,730 December 31, 20 1 7 Pass Special Mention Substandard Doubtful Total One-to-four family residential owner occupied $ 5,258 $ 423 $ -- $ -- $ 5,681 One-to-four family residential non-owner occupied 51,372 29 432 -- 51,833 Multi-family residential 21,715 -- -- -- 21,715 Commercial real estate 91,549 399 286 -- 92,234 Construction 13,563 -- 2,069 -- 15,632 Home equity 5,129 -- -- -- 5,129 Commercial business 11,419 535 -- -- 11,954 Other consumer 138 -- -- -- 138 Total $ 200,143 $ 1,386 $ 2,787 $ -- $ 204,316 |
Impaired Financing Receivables [Table Text Block] | December 31 , 20 1 8 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ 182 $ 185 $ -- $ 417 $ 23 One-to-four family residential non-owner occupied 265 265 -- 324 17 Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- -- -- Construction -- -- -- 2,050 37 Home equity -- -- -- 44 2 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 68 68 50 162 4 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 5 133 10 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ 182 185 $ -- $ 417 $ 23 One-to-four family residential non-owner occupied 333 333 50 486 21 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 5 133 10 Construction -- -- -- 2,050 37 Home equity -- -- -- 44 2 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 648 $ 651 $ 55 $ 3,130 $ 93 December 31, 20 1 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 442 442 -- 937 24 Multi-family residential -- -- -- -- -- Commercial real estate -- -- -- 398 38 Construction 2,069 2,069 -- 2,064 58 Home equity 45 45 -- 47 5 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- With an allowance recorded: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 214 214 70 214 5 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 1 395 9 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total: One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 656 656 70 1,151 29 Multi-family residential -- -- -- -- -- Commercial real estate 133 133 1 793 47 Construction 2,069 2,069 -- 2,064 58 Home equity 45 45 -- 47 5 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 2,903 $ 2,903 $ 71 $ 4,055 $ 139 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | December 31, 201 8 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 1 265 -- 265 -- Multi-family residential -- -- -- -- -- Commercial real estate 1 133 -- 133 5 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 2 $ 398 $ -- $ 398 $ 5 December 31, 20 17 Number of Contracts Recorded Investment Non- Accrual Accruing Related Allowance One-to-four family residential owner occupied -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 5 536 -- 536 25 Multi-family residential -- -- -- -- -- Commercial real estate 1 133 -- 133 1 Construction -- -- -- -- -- Home equity 2 45 -- 45 -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total 8 $ 714 $ -- $ 714 $ 26 |
Contractual Aging of Troubled Debt Restructurings [Table Text Block] | December 31 , 201 8 Accruing Past Due Less than 30 Days Past Due 30-89 Days Greater than 90 Days Non- Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 265 -- -- -- 265 Multi-family residential -- -- -- -- -- Commercial real estate 133 -- -- -- 133 Construction -- -- -- -- -- Home equity -- -- -- -- -- Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 398 $ -- $ -- $ -- $ 398 December 31, 201 7 Accruing Past Due Less than 30 Days Past Due 30-89 Days Greater than 90 Days Non- Accrual Total One-to-four family residential owner occupied $ -- $ -- $ -- $ -- $ -- One-to-four family residential non-owner occupied 536 -- -- -- 536 Multi-family residential -- -- -- -- -- Commercial real estate 133 -- -- -- 133 Construction -- -- -- -- -- Home equity 45 -- -- -- 45 Commercial business -- -- -- -- -- Other consumer -- -- -- -- -- Total $ 714 $ -- $ -- $ -- $ 714 |
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | December 31 , 201 8 1-4 Family Residential Owner Occupied 1-4 Family Residential Non- Owner Occupied Multi- Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Charge-offs -- (47 ) -- -- (215 ) -- -- -- (262 ) Recoveries -- -- -- -- -- -- -- -- -- Provision 3 (58 ) 4 152 254 (6 ) 107 (41 ) 415 Ending balance $ 51 $ 435 $ 156 $ 839 $ 175 $ 21 $ 247 $ 41 $ 1,965 Ending balance evaluated for impairment: Individually $ -- $ 50 $ -- $ 5 $ -- $ -- $ -- $ -- $ 55 Collectively $ 51 $ 385 $ 156 $ 834 $ 175 $ 21 $ 247 $ 41 $ 1,910 Loans receivable: Ending balance $ 6,603 $ 47,361 $ 23,967 $ 103,819 $ 9,998 $ 4,347 $ 23,635 $ 219,730 Ending balance evaluated for impairment: Individually $ 182 $ 333 $ -- $ 133 $ -- $ -- $ -- $ 648 Collectively $ 6,421 $ 47,028 $ 23,967 $ 103,686 $ 9,998 $ 4,347 $ 23,635 $ 219,082 December 31, 201 7 1-4 Family Residential Owner Occupied 1-4 Family Residential Non- Owner Occupied Multi- Family Residential Commercial Real Estate Construction Home Equity Commercial Business and Other Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 41 $ 503 $ 103 $ 616 $ 138 $ 37 $ 87 $ 80 $ 1,605 Charge-offs -- (56 ) -- (24 ) -- -- -- -- (80 ) Recoveries -- -- -- 3 -- -- -- -- 3 Provision 7 93 49 92 (2 ) (10 ) 53 2 284 Ending balance $ 48 $ 540 $ 152 $ 687 $ 136 $ 27 $ 140 $ 82 $ 1,812 Ending balance evaluated for impairment: Individually $ -- $ 70 $ -- $ 1 $ -- $ -- $ -- $ -- $ 71 Collectively $ 48 $ 470 $ 152 $ 686 $ 136 $ 27 $ 140 $ 82 $ 1,741 Loans receivable: Ending balance $ 5,681 $ 51,833 $ 21,715 $ 92,234 $ 15,632 $ 5,129 $ 12,092 $ 204,316 Ending balance evaluated for impairment: Individually $ -- $ 656 $ -- $ 133 $ 2,069 $ 45 $ -- $ 2,903 Collectively $ 5,681 $ 51,177 $ 21,715 $ 92,101 $ 13,563 $ 5,084 $ 12,092 $ 201,413 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, 201 8 December 31, 201 7 One-to-four family residential owner occupied $ 182 $ -- One-to-four family residential non-owner occupied 68 120 Multi-family residential -- -- Commercial real estate -- -- Construction -- 2,069 Home equity -- -- Commercial business -- -- Other consumer -- -- Total $ 250 $ 2,189 |
Past Due Financing Receivables [Table Text Block] | December 31 , 201 8 30- 89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable > 90 Days and Accruing One-to-four family residential owner occupied $ 1,096 $ 182 $ 1,278 $ 5,325 $ 6,603 $ -- One-to-four family residential non-owner occupied 1,259 68 1,327 46,034 47,361 -- Multi-family residential 371 -- 371 23,596 23,967 -- Commercial real estate 2,070 548 2,618 101,201 103,819 548 Construction 2,231 -- 2,231 7,767 9,998 -- Home equity 31 -- 31 4,316 4,347 -- Commercial business 3 380 383 23,233 23,616 380 Other consumer -- -- -- 19 19 -- Total $ 7,061 $ 1,178 $ 8,239 $ 211,491 $ 219,730 $ 928 December 31, 2017 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Loans Receivable 90 Days or More Past Due and Accruing One-to-four family residential owner occupied $ 670 $ 423 $ 1,093 $ 4,588 $ 5,681 $ 423 One-to-four family residential non-owner occupied 969 337 1,306 50,527 51,833 217 Multi-family residential 313 - 313 21,402 21,715 - Commercial real estate 505 241 746 91,488 92,234 241 Construction 407 2,069 2,476 13,156 15,632 - Home equity 51 - 51 5,078 5,129 - Commercial business - - - 11,954 11,954 - Other consumer - - - 138 138 - Total $ 2,915 $ 3,070 $ 5,985 $ 198,331 $ 204,316 $ 881 |
Note 8 - Premises and Equipme_2
Note 8 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2018 2017 Land and land improvements $ 298 $ 299 Buildings 1,456 1,316 Leasehold improvements 439 436 Furniture, fixtures and equipment 1,311 1,180 3,504 3,231 Accumulated depreciation (1,446 ) (1,243 ) Premises and equipment, net $ 2,058 $ 1,988 |
Note 9 - Goodwill and Other I_2
Note 9 - Goodwill and Other Intangible, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2019 $ 49 2020 49 2021 49 2022 49 2023 49 Thereafter 123 Total $ 368 |
Note 10 - Deposits (Tables)
Note 10 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | 2018 2017 Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Non-interest bearing checking accounts $ 17,542 -- % $ 7,956 -- % Passbook accounts 192 0.15 463 0.15 Savings accounts 1,120 0.20 2,353 0.22 Money market accounts 26,841 0.80 30,411 0.79 Certificate of deposit accounts 166,216 2.10 145,038 1.77 Total $ 211,911 1.69 % $ 186,221 1.47 % |
Certificate of Deposit by Maturity [Table Text Block] | Years ending December 31: 2019 $ 47,190 2020 65,451 2021 29,512 2022 8,932 2023 15,131 Total $ 166,216 |
Note 11 - Borrowings (Tables)
Note 11 - Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | At or For the Year Ended December 31, 201 8 201 7 FHLB short-term borrowings: Average balance outstanding $ 9,745 $ 8,654 Maximum amount outstanding at any month-end during the period 10,000 11,500 Balance outstanding at end of period 9,000 10,000 Average interest rate during the period 2.02 % 1.17 % Weighted average interest rate at end of period 2.62 % 1.54 % |
Federal Home Loan Bank Advances [Member] | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 31, 201 8 December 31, 201 7 Fixed rate borrowings maturing: Amount Weighted Interest Amount Weighted Interest 2018 $ -- - % $ 3,000 1.46 % 2019 3,000 1.86 3,000 1.86 2020 2,000 2.00 2,000 2.00 2021 3,000 2.05 3,000 2.05 2022 3,000 2.18 3,000 2.18 2023 3,000 2.33 3,000 2.33 2024 1,000 2.54 1,000 2.54 Total FHLB long-term debt $ 15,000 2.12 % $ 18,000 2.01 % |
Note 12 - Subordinated Debt (Ta
Note 12 - Subordinated Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Principal Unamortized Debt Issuance Costs Net 6.5% subordinated notes, due December 31, 2028 $ 8,000 $ 169 $ 7,831 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 8 201 7 Federal: Current $ 507 $ 911 Deferred (26 ) (65 ) Change in corporate tax rate -- 297 Total federal 481 1,143 State, current 186 62 Total $ 667 $ 1,205 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 8 201 7 Federal income tax at statutory rate $ 560 $ 907 State tax, net of federal benefit 151 42 Stock compensation expense (33 ) (21 ) Change in corporate tax rate -- 297 Other (11 ) (20 ) Total $ 667 $ 1,205 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 20 1 8 20 1 7 Deferred tax assets: Allowance for loan losses $ 413 $ 380 Stock-based compensation 7 13 Interest on non-accrual loans 2 5 Unrealized loss on investment securities available for sale -- 4 Deferred loan fees 182 176 Organization cost 1 1 Total deferred tax assets 605 579 Deferred tax liabilities: Bank premises and equipment (93 ) (94 ) Intangible (9 ) (5 ) Total deferred tax liabilities (102 ) (99 ) Net Deferred Tax Asset $ 503 $ 480 |
Note 14 - Stock Compensation _2
Note 14 - Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | 2018 2017 Allocated shares 179,637 167,643 Unreleased shares 39,677 52,956 Total ESOP shares 219,314 220,599 Fair value of unreleased shares (in thousands) $ 469 $ 688 |
Share-based Compensation, Activity [Table Text Block] | 2018 2017 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested at the beginning of the year 10,061 $ 8.10 20,524 $ 8.10 Granted 48,608 13.30 -- -- Vested (9,661 ) 8.10 (10,263 ) 8.10 Forfeited (400 ) 8.10 (200 ) 8.10 Unvested at the end of the year 48,608 $ 13.30 10,061 $ 8.10 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | 201 8 2017 Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Outstanding at the beginning of the year 265,302 $ 6.74 3.2 316,348 $ 6.49 3.8 Granted 136,636 13.30 9.4 -- -- -- Exercised (106,844 ) 5.00 -- (45,534 ) 5.00 -- Forfeited (15,258 ) 6.22 -- (5,512 ) 6.89 -- Outstanding at the end of the period 279,836 $ 10.64 6.8 265,302 $ 6.74 3.2 Exercisable at the end of the period 143,200 $ 8.10 4.4 235,462 $ 6.57 2.9 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Expected dividend yield 2.11 % Risk-free interest rate 2.96 % Expected life of options (in years) 6.5 Expected stock-price volatility 12.42 % |
Note 16 - Financial Instrumen_2
Note 16 - Financial Instruments With Off-balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Financial Instrument Commitments [Table Text Block] | 2018 2017 Commitments to originate loans $ 17,593 $ 15,921 Unfunded commitments under lines of credit 14,569 19,162 Standby letters of credit 83 183 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Rental Amount 2019 $ 102 2020 100 2021 101 2022 53 2023 38 Thereafter 138 Total $ 532 |
Note 17 - Regulatory Matters (T
Note 17 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 20 1 8 : Total capital (to risk-weighted assets) $ 29,778 15.49 % $ > > % $ > > % Tier 1 capital (to risk-weighted assets) 27,786 14.45 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 27,786 14.45 > > > > Tier 1 capital (to average assets) 27,786 10.92 > > > > Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 20 17 : Total capital (to risk-weighted assets) $ 21,674 12.31 % $ > > % $ > > % Tier 1 capital (to risk-weighted assets) 19,835 11.26 > > > > Common Equity Tier 1 capital (to risk-weighted assets) 19,835 11.26 > > > > Tier 1 capital (to average assets) 19,835 8.54 > > > > |
Note 18 - Fair Value Measurem_2
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Dec ember 3 1 , 201 8 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 4,873 $ -- $ 4,873 $ -- Federal Home Loan Mortgage Corporation mortgage-backed securities 1,082 -- 1,082 -- Federal National Mortgage Association mortgage- backed securities 367 -- 367 -- Debt securities, U.S. government agency 358 -- 358 -- Total investment securities available for sale $ 6,680 $ -- $ 6,680 $ -- Total recurring fair value measurements $ 6,680 $ -- $ 6,680 $ -- Nonrecurring fair value measurements Impaired loans $ 593 $ -- $ -- $ 593 Other Real Estate Owned 1,650 -- -- 1,650 Total nonrecurring fair value measurements $ 2,243 $ -- $ -- $ 2,243 Dec ember 3 1, 201 7 Fair Value Measurements Using: Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring fair value measurements Investment securities available for sale Governmental National Mortgage Association mortgage-backed securities $ 5,643 $ -- $ 5,643 $ -- Federal Home Loan Mortgage Corporation mortgage-backed securities 1,342 -- 1,342 -- Federal National Mortgage Association mortgage- backed securities 570 -- 570 -- Debt securities, U.S. government agency 357 -- 357 -- Total investment securities available for sale $ 7,912 $ -- $ 7,912 $ -- Total recurring fair value measurements $ 7,912 $ -- $ 7,912 $ -- Nonrecurring fair value measurements Impaired loans $ 2,832 $ -- $ -- $ 2,832 Total nonrecurring fair value measurements $ 2,832 $ -- $ -- $ 2,832 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | December 31 , 201 8 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 648 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 73% (8%) Other real estate owned $ 1,650 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 12% (12%) December 31 , 201 7 Quantitative Information About Level 3 Fair Value Measurements Total Fair Value Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 2,832 Appraisal of collateral (1) Appraisal adjustments (2) 0% - 27% (1%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at December 31, 201 8 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 4,927 $ 4,927 $ -- $ -- $ 4,927 Loans held for sale 5,103 5,254 -- 5,254 -- Loans receivable, net 216,898 214,351 -- -- 214,351 Financial Liabilities Deposits 211,911 212,320 45,695 -- 166,625 FHLB long-term borrowings 15,000 14,973 -- -- 14,973 Subordinated debt 7,831 7,831 -- -- 7,831 Fair Value Measurements at December 31, 201 7 Carrying Amount Fair Value Estimate Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Financial Assets Investment in interest-earning time deposits $ 4,879 $ 4,912 $ -- $ -- $ 4,912 Loans held for sale 7,006 7,232 -- 7,232 -- Loans receivable, net 201,667 202,803 -- -- 202,803 Financial Liabilities Deposits 186,221 187,309 41,183 -- 146,126 FHLB long-term borrowings 18,000 16,982 -- -- 16,982 |
Note 19 - Quaint Oak Bancorp,_2
Note 19 - Quaint Oak Bancorp, Inc. (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, 2018 2017 Assets Cash and cash equivalents $ 1,596 $ 211 Investment in Quaint Oak Bank 28,454 20,552 Premises and equipment, net 1,588 1,423 Other assets 29 10 Total Assets $ 31,667 $ 22,196 Liabilities and Stockholders’ Equity Subordinated debt $ 7,831 $ -- Other liabilities -- 11 Stockholders’ equity 23,836 22,185 Total Liabilities and Stockholders’ Equity $ 31,667 $ 22,196 |
Condensed Income Statement [Table Text Block] | For the Year Ended December 31, 2018 2017 Income Dividends from subsidiary $ 750 $ 250 Rental income 151 149 Total Income 901 399 Expenses Occupancy and equipment expense 116 101 Interest on subordinated debt 7 -- Other expenses 116 96 Total Expenses 239 197 Net Income Before Income Taxes 662 202 Equity in Undistributed Net Income of Subsidiary 1,324 1,246 Income Tax Benefit 18 19 Net Income $ 2,004 $ 1,467 Comprehensive Income $ 2,017 $ 1,492 |
Condensed Cash Flow Statement [Table Text Block] | For the Year Ended December 31, 2018 2017 Operating Activities Net income $ 2,004 $ 1,467 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed net income in subsidiary (1,324 ) (1,246 ) Depreciation expense 44 38 Stock-based compensation expense 340 314 Increase in other assets (84 ) (13 ) Decrease in other liabilities (11 ) (5 ) Net cash provided by operating activities 969 555 Investing Activities Investment in subsidiary (6,500 ) -- Purchase of property and equipment (209 ) (139 ) Net cash used in investing activities (6,709 ) (139 ) Financing Activities Net proceeds from the issuance of subordinated debt 7,831 -- Dividends paid (511 ) (364 ) Purchase of treasury stock (793 ) (347 ) Proceeds from the reissuance of treasury stock 64 94 Proceeds from the exercise of stock options 534 206 Net cash provided by (used in) financing activities 7,125 (411 ) Net Increase in Cash and Cash Equivalents 1,385 5 Cash and Cash Equivalents-Beginning of Year 211 206 Cash and Cash Equivalents-End of Year $ 1,596 $ 211 |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Number of Wholly-Owned Subsidiaries | 5 |
Number of Subsidiary Branch Offices | 2 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) | Aug. 01, 2016USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | $ 0 | $ 0 | |
Impairment of Federal Home Loan Bank Stock | $ 0 | 0 | |
Past Due Period of Principal or Interest Payment | 90 days | ||
Threshold for Loans to be Evaluated Annually, Minimum | $ 500,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 1,700,000 | $ 0 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% | |
Number of Share-Based Plans | 2 | ||
Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncement, Estimated Increase in Assets and Liabilities | 1.00% | ||
Adjustments for New Accounting Principle, Early Adoption [Member] | Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member] | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 2,000 | ||
Signature Insurance Services, LLC [Member] | |||
Payments to Acquire Businesses, Gross | $ 1,000,000 | ||
Goodwill, Acquired During Period | 515,000 | ||
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member] | |||
Finite-lived Intangible Assets Acquired | $ 485,000 | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 39 years | ||
Credit Concentration Risk [Member] | Loans Sold [Member] | |||
Number of Investors | 1 | ||
Percentage of Loans Sold From Mortgage Loans Held for Sale | 53.00% | ||
Percentage Gains on Loans Sold From Mortgage Loans Held for Sale | 53.00% |
Note 3 - Earnings Per Share - W
Note 3 - Earnings Per Share - Weighted Average Shares Used in Basic and Dilutive Earnings Per Share Computations (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Net Income | $ 2,004,000 | $ 1,467,000 |
Weighted average shares outstanding – basic (in shares) | 1,923,491 | 1,857,457 |
Effect of dilutive common stock equivalents (in shares) | 59,507 | 137,375 |
Adjusted weighted average shares outstanding – diluted (in shares) | 1,982,998 | 1,994,832 |
Basic earnings per share (in dollars per share) | $ 1.04 | $ 0.79 |
Diluted earnings per share (in dollars per share) | $ 1.01 | $ 0.74 |
Note 4 - Accumulated Other Co_3
Note 4 - Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Balance | $ 22,185 | $ 20,790 | |
Reclassification of certain income tax effects from accumulated other comprehensive income | |||
Balance | 23,836 | 22,185 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Balance | [1] | (15) | (38) |
Other comprehensive income before reclassifications | [1] | 13 | 25 |
Amount reclassified from accumulated other comprehensive loss | [1] | ||
Total other comprehensive income | [1] | 13 | 25 |
Reclassification of certain income tax effects from accumulated other comprehensive income | [1] | (2) | |
Balance | [1] | $ (2) | $ (15) |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Note 5 - Investment in Intere_3
Note 5 - Investment in Interest-earning Time Deposits - Investment in Interest-earnings Time Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Due in one year or less | $ 1,604 | $ 761 |
Due after one year through five years | 3,323 | 4,118 |
Total | $ 4,927 | $ 4,879 |
Note 6 - Investment Securitie_3
Note 6 - Investment Securities Available for Sale (Details Textual) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 3 | 3 |
Percentage of Aggregate Depreciation Held by Debt Securities | 2.12% | |
Other than Temporary Impairment Losses, Investments, Total | $ 0 | $ 0 |
Note 6 - Investment Securitie_4
Note 6 - Investment Securities Available for Sale - Amortized Cost and Fair Value of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Amortized cost | $ 6,682 | $ 7,931 |
Gross unrealized gains | 29 | 19 |
Gross unrealized losses | (31) | (38) |
Loans held for sale | 6,680 | 7,912 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 6,322 | 7,571 |
Gross unrealized gains | 29 | 19 |
Gross unrealized losses | (29) | (35) |
Loans held for sale | 6,322 | 7,555 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 360 | 360 |
Gross unrealized gains | ||
Gross unrealized losses | (2) | (3) |
Loans held for sale | 358 | 357 |
Government National Mortgage Association (GNMA) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 4,844 | 5,624 |
Gross unrealized gains | 29 | 19 |
Gross unrealized losses | ||
Loans held for sale | 4,873 | 5,643 |
Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 1,111 | 1,377 |
Gross unrealized gains | ||
Gross unrealized losses | (29) | (35) |
Loans held for sale | 1,082 | 1,342 |
Federal National Mortgage Association (FNMA) Insured Loans [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 367 | 570 |
Gross unrealized gains | ||
Gross unrealized losses | ||
Loans held for sale | $ 367 | $ 570 |
Note 6 - Investment Securitie_5
Note 6 - Investment Securities Available for Sale - Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Due after one year through five years, amortized cost | $ 360 | |
Due after one year through five years, fair value | 358 | |
Due after ten years, amortized cost | 6,322 | |
Due after ten years, fair value | 6,322 | |
Total, amortized cost | 6,682 | $ 7,931 |
Total, fair value | $ 6,680 | $ 7,912 |
Note 6 - Investment Securitie_6
Note 6 - Investment Securities Available for Sale - Gross Unrealized Losses and Fair Value (Details) $ in Thousands | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Number of securities | 3 | 3 |
Fair value, less than twelve months | ||
Gross unrealized losses, less than twelve months | ||
Fair value, twelve months or greater | 1,440 | 1,699 |
Gross unrealized losses, twelve months or greater | (31) | (38) |
Fair value | 1,440 | 1,699 |
Gross unrealized losses | (31) | (38) |
Fair value | $ 1,440 | $ 1,699 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | ||
Number of securities | 2 | 2 |
Fair value, less than twelve months | ||
Gross unrealized losses, less than twelve months | ||
Fair value, twelve months or greater | 1,082 | 1,342 |
Gross unrealized losses, twelve months or greater | (29) | (35) |
Fair value | 1,082 | 1,342 |
Gross unrealized losses | (29) | (35) |
Fair value | $ 1,082 | $ 1,342 |
US Government Agencies Debt Securities [Member] | ||
Number of securities | 1 | 1 |
Fair value, less than twelve months | ||
Gross unrealized losses, less than twelve months | ||
Fair value, twelve months or greater | 358 | 357 |
Gross unrealized losses, twelve months or greater | (2) | (3) |
Fair value | 358 | 357 |
Gross unrealized losses | (2) | (3) |
Fair value | $ 358 | $ 357 |
Note 7 - Loans Receivable, Ne_3
Note 7 - Loans Receivable, Net and Allowance for Loan Losses (Details Textual) | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Troubled Debt Restructuring, Number of Contracts | 2 | 8 |
Financing Receivable, Modifications, Recorded Investment | $ 398,000 | $ 714,000 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | |
Loans and Leases Receivable, Gross, Total | 219,730,000 | 204,316,000 |
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | 0 | 0 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 16,000 | 119,000 |
Nonperforming Financial Instruments [Member] | ||
Loans and Leases Receivable, Gross, Total | $ 1,200,000 | $ 3,100,000 |
Note 7 - Loans Receivable, Ne_4
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Composition of Net Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 219,730 | $ 204,316 | |
Deferred loan fees and costs | (867) | (837) | |
Allowance for loan losses | (1,965) | (1,812) | $ (1,605) |
Net Loans | 216,898 | 201,667 | |
Real Estate Portfolio Segment [Member] | |||
Loans | 196,095 | 192,224 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | |||
Loans | 6,603 | 5,681 | |
Allowance for loan losses | (51) | (48) | (41) |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | |||
Loans | 47,361 | 51,833 | |
Allowance for loan losses | (435) | (540) | (503) |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Loans [Member] | |||
Loans | 53,964 | 57,514 | |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | |||
Loans | 23,967 | 21,715 | |
Allowance for loan losses | (156) | (152) | (103) |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | |||
Loans | 103,819 | 92,234 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans | 9,998 | 15,632 | |
Allowance for loan losses | (175) | (136) | (138) |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Loans | 4,347 | 5,129 | |
Allowance for loan losses | (21) | (27) | $ (37) |
Commercial Portfolio Segment [Member] | |||
Loans | 23,616 | 11,954 | |
Consumer Portfolio Segment [Member] | |||
Loans | $ 19 | $ 138 |
Note 7 - Loans Receivable, Ne_5
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Loan Portfolio by Credit Rating (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans | $ 219,730 | $ 204,316 |
Pass [Member] | ||
Loans | 216,256 | 200,143 |
Special Mention [Member] | ||
Loans | 1,386 | |
Substandard [Member] | ||
Loans | 3,374 | 2,787 |
Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | ||
Loans | 196,095 | 192,224 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Loans | 6,603 | 5,681 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Pass [Member] | ||
Loans | 6,421 | 5,258 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Special Mention [Member] | ||
Loans | 423 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Substandard [Member] | ||
Loans | 182 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Loans | 47,361 | 51,833 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Pass [Member] | ||
Loans | 46,534 | 51,372 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Special Mention [Member] | ||
Loans | 29 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Substandard [Member] | ||
Loans | 827 | 432 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Loans | 23,967 | 21,715 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Pass [Member] | ||
Loans | 23,967 | 21,715 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Substandard [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Loans | 103,819 | 92,234 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Pass [Member] | ||
Loans | 101,821 | 91,549 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Special Mention [Member] | ||
Loans | 399 | |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Substandard [Member] | ||
Loans | 1,998 | 286 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 9,998 | 15,632 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Loans | 9,998 | 13,563 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Loans | 2,069 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans | 4,347 | 5,129 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Pass [Member] | ||
Loans | 4,347 | 5,129 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Special Mention [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Substandard [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Doubtful [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | 23,616 | 11,954 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 23,149 | 11,419 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | 535 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 467 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans | 19 | 138 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 19 | 138 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans |
Note 7 - Loans Receivable, Ne_6
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Impaired Loans by Loan Portfolio Class (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Related allowance | $ 55 | $ 71 |
Recorded investment | 648 | 2,903 |
Unpaid principal balance | 651 | 2,903 |
Average recorded investment | 3,130 | 4,055 |
Interest income recognized | 93 | 139 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Recorded investment, with no related allowance recorded | 182 | |
Unpaid principal balance, with no related allowance recorded | 185 | |
Average recorded investment, with no related allowance recorded | 417 | |
Interest income recognized, with no related allowance recorded | 23 | |
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | 182 | |
Unpaid principal balance | 185 | |
Average recorded investment | 417 | |
Interest income recognized | 23 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Recorded investment, with no related allowance recorded | 265 | 442 |
Unpaid principal balance, with no related allowance recorded | 265 | 442 |
Average recorded investment, with no related allowance recorded | 324 | 937 |
Interest income recognized, with no related allowance recorded | 17 | 24 |
Recorded investment, with an allowance recorded | 68 | 214 |
Unpaid principal balance, with an allowance recorded | 68 | 214 |
Related allowance | 50 | 70 |
Average recorded investment, with an allowance recorded | 162 | 214 |
Interest income recognized, with an allowance recorded | 4 | 5 |
Recorded investment | 333 | 656 |
Unpaid principal balance | 333 | 656 |
Average recorded investment | 486 | 1,151 |
Interest income recognized | 21 | 29 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | 398 | |
Interest income recognized, with no related allowance recorded | 38 | |
Recorded investment, with an allowance recorded | 133 | 133 |
Unpaid principal balance, with an allowance recorded | 133 | 133 |
Related allowance | 5 | 1 |
Average recorded investment, with an allowance recorded | 133 | 395 |
Interest income recognized, with an allowance recorded | 10 | 9 |
Recorded investment | 133 | 133 |
Unpaid principal balance | 133 | 133 |
Average recorded investment | 133 | 793 |
Interest income recognized | 10 | 47 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded investment, with no related allowance recorded | 2,069 | |
Unpaid principal balance, with no related allowance recorded | 2,069 | |
Average recorded investment, with no related allowance recorded | 2,050 | 2,064 |
Interest income recognized, with no related allowance recorded | 37 | 58 |
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | 2,069 | |
Unpaid principal balance | 2,069 | |
Average recorded investment | 2,050 | 2,064 |
Interest income recognized | 37 | 58 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Recorded investment, with no related allowance recorded | 45 | |
Unpaid principal balance, with no related allowance recorded | 45 | |
Average recorded investment, with no related allowance recorded | 44 | 47 |
Interest income recognized, with no related allowance recorded | 2 | 5 |
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | 45 | |
Unpaid principal balance | 45 | |
Average recorded investment | 44 | 47 |
Interest income recognized | 2 | 5 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized | ||
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no related allowance recorded | ||
Unpaid principal balance, with no related allowance recorded | ||
Average recorded investment, with no related allowance recorded | ||
Interest income recognized, with no related allowance recorded | ||
Recorded investment, with an allowance recorded | ||
Unpaid principal balance, with an allowance recorded | ||
Related allowance | ||
Average recorded investment, with an allowance recorded | ||
Interest income recognized, with an allowance recorded | ||
Recorded investment | ||
Unpaid principal balance | ||
Average recorded investment | ||
Interest income recognized |
Note 7 - Loans Receivable, Ne_7
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Troubled Debt Restructuring Loans (Details) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Troubled debt restructuring, number of contracts | 2 | 8 |
Troubled debt restructuring, recorded investment | $ 398,000 | $ 714,000 |
Troubled debt restructuring, related allowance | 5,000 | 26,000 |
Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 398,000 | $ 714,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Troubled debt restructuring, number of contracts | 1 | 5 |
Troubled debt restructuring, recorded investment | $ 265,000 | $ 536,000 |
Troubled debt restructuring, related allowance | 25,000 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 265,000 | $ 536,000 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Troubled debt restructuring, number of contracts | 1 | 1 |
Troubled debt restructuring, recorded investment | $ 133,000 | $ 133,000 |
Troubled debt restructuring, related allowance | 5,000 | 1,000 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 133,000 | $ 133,000 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Troubled debt restructuring, number of contracts | 2 | |
Troubled debt restructuring, recorded investment | $ 45,000 | |
Troubled debt restructuring, related allowance | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | $ 45,000 | |
Commercial Portfolio Segment [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Commercial Portfolio Segment [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Commercial Portfolio Segment [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Consumer Portfolio Segment [Member] | ||
Troubled debt restructuring, number of contracts | ||
Troubled debt restructuring, recorded investment | ||
Troubled debt restructuring, related allowance | ||
Consumer Portfolio Segment [Member] | Nonaccruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment | ||
Consumer Portfolio Segment [Member] | Accruing Instrument [Member] | ||
Troubled debt restructuring, recorded investment |
Note 7 - Loans Receivable, Ne_8
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Contractual Aging of the TDRs (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 398,000 | 714,000 |
Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 398,000 | 714,000 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 265,000 | 536,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 265,000 | 536,000 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 133,000 | 133,000 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 133,000 | 133,000 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | 45,000 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | 45,000 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Commercial Portfolio Segment [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Consumer Portfolio Segment [Member] | ||
Troubled debt restructurings, non-accrual | ||
Troubled debt restructuring, recorded investment | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Troubled debt restructurings, past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Troubled debt restructurings, past due |
Note 7 - Loans Receivable, Ne_9
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Changes in the Allowance for Loan Losses and Recorded Investment in Loans Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Allowance for loan losses, beginning balance | $ 1,812 | $ 1,605 |
Charge-offs | (262) | (80) |
Recoveries | 3 | |
Provision | 415 | 284 |
Allowance for loan losses, ending balance | 1,965 | 1,812 |
Allowance for loan losses, individually evaluated for impairment | 55 | 71 |
Allowance for loan losses, collectively evaluated for impairment | 1,910 | 1,741 |
Loans receivable, ending balance | 219,730 | 204,316 |
Loans receivable, individually evaluated for impairment | 648 | 2,903 |
Loans receivable, collectively evaluated for impairment | 219,082 | 201,413 |
Real Estate Portfolio Segment [Member] | ||
Loans receivable, ending balance | 196,095 | 192,224 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Allowance for loan losses, beginning balance | 48 | 41 |
Charge-offs | ||
Recoveries | ||
Provision | 3 | 7 |
Allowance for loan losses, ending balance | 51 | 48 |
Allowance for loan losses, individually evaluated for impairment | ||
Allowance for loan losses, collectively evaluated for impairment | 51 | 48 |
Loans receivable, ending balance | 6,603 | 5,681 |
Loans receivable, individually evaluated for impairment | 182 | |
Loans receivable, collectively evaluated for impairment | 6,421 | 5,681 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Allowance for loan losses, beginning balance | 540 | 503 |
Charge-offs | (47) | (56) |
Recoveries | ||
Provision | (58) | 93 |
Allowance for loan losses, ending balance | 435 | 540 |
Allowance for loan losses, individually evaluated for impairment | 50 | 70 |
Allowance for loan losses, collectively evaluated for impairment | 385 | 470 |
Loans receivable, ending balance | 47,361 | 51,833 |
Loans receivable, individually evaluated for impairment | 333 | 656 |
Loans receivable, collectively evaluated for impairment | 47,028 | 51,177 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Allowance for loan losses, beginning balance | 152 | 103 |
Charge-offs | ||
Recoveries | ||
Provision | 4 | 49 |
Allowance for loan losses, ending balance | 156 | 152 |
Allowance for loan losses, individually evaluated for impairment | ||
Allowance for loan losses, collectively evaluated for impairment | 156 | 152 |
Loans receivable, ending balance | 23,967 | 21,715 |
Loans receivable, individually evaluated for impairment | ||
Loans receivable, collectively evaluated for impairment | 23,967 | 21,715 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate and Lines of Credit [Member] | ||
Allowance for loan losses, beginning balance | 687 | 616 |
Charge-offs | (24) | |
Recoveries | 3 | |
Provision | 152 | 92 |
Allowance for loan losses, ending balance | 839 | 687 |
Allowance for loan losses, individually evaluated for impairment | 5 | 1 |
Allowance for loan losses, collectively evaluated for impairment | 834 | 686 |
Loans receivable, ending balance | 103,819 | 92,234 |
Loans receivable, individually evaluated for impairment | 133 | 133 |
Loans receivable, collectively evaluated for impairment | 103,686 | 92,101 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Allowance for loan losses, beginning balance | 136 | 138 |
Charge-offs | (215) | |
Recoveries | ||
Provision | 254 | (2) |
Allowance for loan losses, ending balance | 175 | 136 |
Allowance for loan losses, individually evaluated for impairment | ||
Allowance for loan losses, collectively evaluated for impairment | 175 | 136 |
Loans receivable, ending balance | 9,998 | 15,632 |
Loans receivable, individually evaluated for impairment | 2,069 | |
Loans receivable, collectively evaluated for impairment | 9,998 | 13,563 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Allowance for loan losses, beginning balance | 27 | 37 |
Charge-offs | ||
Recoveries | ||
Provision | (6) | (10) |
Allowance for loan losses, ending balance | 21 | 27 |
Allowance for loan losses, individually evaluated for impairment | ||
Allowance for loan losses, collectively evaluated for impairment | 21 | 27 |
Loans receivable, ending balance | 4,347 | 5,129 |
Loans receivable, individually evaluated for impairment | 45 | |
Loans receivable, collectively evaluated for impairment | 4,347 | 5,084 |
Commercial and Consumer Portfolio Segments [Member] | ||
Allowance for loan losses, beginning balance | 140 | 87 |
Charge-offs | ||
Recoveries | ||
Provision | 107 | 53 |
Allowance for loan losses, ending balance | 247 | 140 |
Allowance for loan losses, individually evaluated for impairment | ||
Allowance for loan losses, collectively evaluated for impairment | 247 | 140 |
Loans receivable, ending balance | 23,635 | 12,092 |
Loans receivable, individually evaluated for impairment | ||
Loans receivable, collectively evaluated for impairment | 23,635 | 12,092 |
Unallocated Financing Receivables [Member] | ||
Allowance for loan losses, beginning balance | 82 | 80 |
Charge-offs | ||
Recoveries | ||
Provision | (41) | 2 |
Allowance for loan losses, ending balance | 41 | 82 |
Allowance for loan losses, individually evaluated for impairment | ||
Allowance for loan losses, collectively evaluated for impairment | 41 | 82 |
Loans receivable, ending balance | ||
Loans receivable, individually evaluated for impairment | ||
Loans receivable, collectively evaluated for impairment |
Note 7 - Loans Receivable, N_10
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Non-accrual Loans by Class of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans | $ 250 | $ 2,189 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Loans | 182 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Loans | 68 | 120 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Loans | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 2,069 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans |
Note 7 - Loans Receivable, N_11
Note 7 - Loans Receivable, Net and Allowance for Loan Losses - Loan Portfolio Summarized by Past Due Status (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans, past due | $ 8,239 | $ 5,985 |
Loans, current | 211,491 | 198,331 |
Loans | 219,730 | 204,316 |
Loans > 90 days and accruing | 928 | 881 |
The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 7,061 | 2,915 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,178 | 3,070 |
Real Estate Portfolio Segment [Member] | ||
Loans | 196,095 | 192,224 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | ||
Loans, past due | 1,278 | 1,093 |
Loans, current | 5,325 | 4,588 |
Loans | 6,603 | 5,681 |
Loans > 90 days and accruing | 423 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 1,096 | 670 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 182 | 423 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | ||
Loans, past due | 1,327 | 1,306 |
Loans, current | 46,034 | 50,527 |
Loans | 47,361 | 51,833 |
Loans > 90 days and accruing | 217 | |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 1,259 | 969 |
Real Estate Portfolio Segment [Member] | One-to-four Family Residential Non-owner Occupied Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 68 | 337 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | ||
Loans, past due | 371 | 313 |
Loans, current | 23,596 | 21,402 |
Loans | 23,967 | 21,715 |
Loans > 90 days and accruing | ||
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 371 | 313 |
Real Estate Portfolio Segment [Member] | Multi-family (Five Or More) Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | ||
Loans, past due | 2,618 | 746 |
Loans, current | 101,201 | 91,488 |
Loans | 103,819 | 92,234 |
Loans > 90 days and accruing | 548 | 241 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 2,070 | 505 |
Real Estate Portfolio Segment [Member] | Commercial Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 548 | 241 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans, past due | 2,231 | 2,476 |
Loans, current | 7,767 | 13,156 |
Loans | 9,998 | 15,632 |
Loans > 90 days and accruing | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 2,231 | 407 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 2,069 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans, past due | 31 | 51 |
Loans, current | 4,316 | 5,078 |
Loans | 4,347 | 5,129 |
Loans > 90 days and accruing | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 31 | 51 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Portfolio Segment [Member] | ||
Loans, past due | 383 | |
Loans, current | 23,233 | 11,954 |
Loans | 23,616 | 11,954 |
Loans > 90 days and accruing | 380 | |
Commercial Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | 3 | |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 380 | |
Consumer Portfolio Segment [Member] | ||
Loans, past due | ||
Loans, current | 19 | 138 |
Loans | 19 | 138 |
Loans > 90 days and accruing | ||
Consumer Portfolio Segment [Member] | The 30 to 89 Days Delinquent [Member] | ||
Loans, past due | ||
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due |
Note 8 - Premises and Equipme_3
Note 8 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 202,000 | $ 192,000 |
Office Facilities and Equipment [Member] | ||
Operating Leases, Rent Expense, Net, Total | $ 165,000 | $ 151,000 |
Note 8 - Premises and Equipme_4
Note 8 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Premises and equipment | $ 3,504 | $ 3,231 |
Accumulated depreciation | (1,446) | (1,243) |
Premises and equipment, net | 2,058 | 1,988 |
Land and Land Improvements [Member] | ||
Premises and equipment | 298 | 299 |
Building [Member] | ||
Premises and equipment | 1,456 | 1,316 |
Leasehold Improvements [Member] | ||
Premises and equipment | 439 | 436 |
Furniture and Fixtures [Member] | ||
Premises and equipment | $ 1,311 | $ 1,180 |
Note 9 - Goodwill and Other I_3
Note 9 - Goodwill and Other Intangible, Net (Details Textual) - USD ($) | Aug. 01, 2016 | Dec. 31, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 368,000 | $ 416,000 | |
Amortization of Intangible Assets, Total | 48,000 | $ 49,000 | |
Other Intangible Assets [Member] | |||
Finite-Lived Intangible Assets, Net, Ending Balance | 368,000 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 117,000 | ||
Signature Insurance Services, LLC [Member] | |||
Payments to Acquire Businesses, Gross | $ 1,000,000 | ||
Goodwill, Acquired During Period | 515,000 | ||
Signature Insurance Services, LLC [Member] | Other Intangible Assets [Member] | |||
Finite-lived Intangible Assets Acquired | $ 485,000 | ||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Note 9 - Goodwill and Other I_4
Note 9 - Goodwill and Other Intangible, Net - Estimated Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2019 | $ 49 | |
2020 | 49 | |
2021 | 49 | |
2022 | 49 | |
2023 | 49 | |
Thereafter | 123 | |
Total | $ 368 | $ 416 |
Note 10 - Deposits (Details Tex
Note 10 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Time Deposits, at or Above FDIC Insurance Limit | $ 25.7 | $ 18.5 |
Note 10 - Deposits - Summary of
Note 10 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Non-interest bearing checking accounts, amount | $ 17,542 | $ 7,956 |
Money market accounts, amount | $ 26,841 | $ 30,411 |
Money market accounts, weighted average interest rate | 0.80% | 0.79% |
Certificate of deposit accounts, amount | $ 166,216 | $ 145,038 |
Certificate of deposit accounts, weighted average interest rate | 2.10% | 1.77% |
Total, amount | $ 211,911 | $ 186,221 |
Total, weighted average interest rate | 1.69% | 1.47% |
Passbook Accounts [Member] | ||
Interest-bearing deposits, amount | $ 192 | $ 463 |
Interest-bearing deposits, weighted average interest rate | 0.15% | 0.15% |
Savings Accounts [Member] | ||
Interest-bearing deposits, amount | $ 1,120 | $ 2,353 |
Interest-bearing deposits, weighted average interest rate | 0.20% | 0.22% |
Note 10 - Deposits - Certificat
Note 10 - Deposits - Certificate of Deposit by Maturity (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 47,190 |
2020 | 65,451 |
2021 | 29,512 |
2022 | 8,932 |
2023 | 15,131 |
Total | $ 166,216 |
Note 11 - Borrowings (Details T
Note 11 - Borrowings (Details Textual) - Line of Credit [Member] - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Federal Home Loan Bank [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 129,100,000 | |
Long-term Line of Credit, Total | 24,000,000 | $ 28,000,000 |
Federal Reserve Bank of Philadelphia [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 813,000 | |
Long-term Line of Credit, Total | $ 0 | $ 0 |
Note 11 - Borrowings - Federal
Note 11 - Borrowings - Federal Home Loan Bank Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Average balance outstanding | $ 9,745 | $ 8,654 |
Maximum amount outstanding at any month-end during the period | 10,000 | 11,500 |
Balance outstanding at end of period | $ 9,000 | $ 10,000 |
Average interest rate during the period | 2.02% | 1.17% |
Weighted average interest rate at end of period | 2.62% | 1.54% |
Note 11 - Borrowings - Federa_2
Note 11 - Borrowings - Federal Home Loan Bank Long-term Borrowings (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
2018, amount | $ 3 | |
2018, weighted interest rate | 1.46% | |
2019, amount | $ 3 | $ 3 |
2019, weighted interest rate | 1.86% | 1.86% |
2020, amount | $ 2 | $ 2 |
2020, weighted interest rate | 2.00% | 2.00% |
2021, amount | $ 3 | $ 3 |
2021, weighted interest rate | 2.05% | 2.05% |
2022, amount | $ 3 | $ 3 |
2022, weighted interest rate | 2.18% | 2.18% |
2023, amount | $ 3 | $ 3 |
2023, weighted interest rate | 2.33% | 2.33% |
2024, amount | $ 1 | $ 1 |
2024, weighted interest rate | 2.54% | 2.54% |
Total FHLB long-term debt, amount | $ 15 | $ 18 |
Total FHLB long-term debt, weighted interest rate | 2.12% | 2.01% |
Note 12 - Subordinated Debt (De
Note 12 - Subordinated Debt (Details Textual) - Subordinated Debt [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 27, 2018 |
Debt Instrument, Face Amount | $ 8 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | 6.50% |
Note 12 - Subordinated Debt - S
Note 12 - Subordinated Debt - Schedule of Subordinated Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Net | $ 7,831 | |
Subordinated Debt [Member] | ||
Principal | 8,000 | |
Unamortized Debt Issuance Costs | 169 | |
Net | $ 7,831 |
Note 12 - Subordinated Debt -_2
Note 12 - Subordinated Debt - Schedule of Subordinated Debt (Details) (Parentheticals) | Dec. 31, 2018 | Dec. 27, 2018 |
Subordinated Debt [Member] | ||
Debt Instrument, Interest Rate | 6.50% | 6.50% |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 297,000 | |
Deferred Tax Assets, Net, Total | 503,000 | 480,000 |
Deferred Tax Assets, Valuation Allowance, Total | $ 0 | $ 0 |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Current | $ 507,000 | $ 911,000 |
Deferred | (26,000) | (65,000) |
Change in corporate tax rate | 297,000 | |
Total federal | 481,000 | 1,143,000 |
State, current | 186,000 | 62,000 |
Total | $ 667,000 | $ 1,205,000 |
Note 13 - Income Taxes - Effect
Note 13 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Federal income tax at statutory rate | $ 560 | $ 907 |
State tax, net of federal benefit | 151 | 42 |
Stock compensation expense | (33) | (21) |
Change in corporate tax rate | 297 | |
Other | (11) | (20) |
Total | $ 667 | $ 1,205 |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Allowance for loan losses | $ 413,000 | $ 380,000 |
Stock-based compensation | 7,000 | 13,000 |
Interest on non-accrual loans | 2,000 | 5,000 |
Unrealized loss on investment securities available for sale | 4,000 | |
Deferred loan fees | 182,000 | 176,000 |
Organization cost | 1,000 | 1,000 |
Total deferred tax assets | 605,000 | 579,000 |
Deferred tax liabilities: | ||
Bank premises and equipment | (93,000) | (94,000) |
Intangible | (9,000) | (5,000) |
Total deferred tax liabilities | (102,000) | (99,000) |
Net Deferred Tax Asset | $ 503,000 | $ 480,000 |
Note 14 - Stock Compensation _3
Note 14 - Stock Compensation Plans (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||
May 31, 2018 | May 31, 2013 | May 31, 2008 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2007 | Mar. 31, 2018 | Dec. 31, 2016 | |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 192,000 | $ 185,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.75 | |||||||
Restricted Stock [Member] | ||||||||
Allocated Share-based Compensation Expense, Total | 107,000 | 84,000 | ||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 22,000 | 29,000 | ||||||
Employee Stock Option [Member] | ||||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 1,000 | 4,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 146 days | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 330,000 | 1,700,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 533,000 | 1,500,000 | ||||||
Allocated Share-based Compensation Expense, Net of Tax | 41,000 | $ 45,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 193,000 | |||||||
Employee Stock Option [Member] | Minimum [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||
The 2008 Recognition and Retention Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | 111,090 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $ 4.68 | |||||||
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $ 520,000 | |||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 195,000 | 0 | ||||||
The 2013 Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 48,750 | |||||||
Percentage of Shares May Be Granted As Restricted Stock Awards | 25.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | |||||||
The 2013 Stock Incentive Plan [Member] | Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 146,250 | |||||||
The 2018 Stock Incentive Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 155,000 | |||||||
The 2018 Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 38,750 | |||||||
Percentage of Shares May Be Granted As Restricted Stock Awards | 25.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 11,750 | |||||||
The 2018 Stock Incentive Plan [Member] | Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 116,250 | |||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 48,608 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 566,000 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years 146 days | |||||||
The RRP and Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 48,608 | 10,061 | 20,524 | |||||
The RRP and Stock Incentive Plan [Member] | Restricted Stock [Member] | Minimum [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||||
The 2008 Stock Option Plan [Member] | Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 277,726 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 5 | |||||||
The Option Plan and Stock Incentive Plan [Member] | Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 37,250 | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 5 | $ 5 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 279,836 | 265,302 | 316,348 | |||||
Employee Stock Ownership Plan [Member] | ||||||||
Percentage of Company Shares Purchased by ESOP | 8.00% | |||||||
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | 222,180 | |||||||
ESOP Loan Interest Rate | 7.75% | |||||||
Employee Stock Ownership Plan (ESOP), Loan Term | 15 years |
Note 14 - Stock Compensation _4
Note 14 - Stock Compensation Plans - Components of the ESOP Shares (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Allocated shares (in shares) | 179,637 | 167,643 |
Unreleased shares (in shares) | 39,677 | 52,956 |
Total ESOP shares (in shares) | 219,314 | 220,599 |
Fair value of unreleased shares (in thousands) | $ 469 | $ 688 |
Note 14 - Stock Compensation _5
Note 14 - Stock Compensation Plans - Status of Shares Under the RRP and Stock Incentive Plan (Details) - The RRP and Stock Incentive Plan [Member] - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Unvested, number of shares (in shares) | 10,061 | 20,524 |
Unvested, weighted average grant date fair value (in dollars per share) | $ 8.10 | $ 8.10 |
Granted, number of shares (in shares) | 48,608 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 13.30 | |
Vested, number of shares (in shares) | (9,661) | (10,263) |
Vested, weighted average grant date fair value (in dollars per share) | $ 8.10 | $ 8.10 |
Forfeited, number of shares (in shares) | (400) | (200) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 8.10 | $ 8.10 |
Unvested, number of shares (in shares) | 48,608 | 10,061 |
Unvested, weighted average grant date fair value (in dollars per share) | $ 13.30 | $ 8.10 |
Note 14 - Stock Compensation _6
Note 14 - Stock Compensation Plans - Summary of Option Activity (Details) - Employee Stock Option [Member] - The Option Plan and Stock Incentive Plan [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding at the beginning of the year, number of shares (in shares) | 265,302 | 316,348 | |
Outstanding at the beginning of the year, weighted average exercise price (in dollars per share) | $ 6.74 | $ 6.49 | |
Outstanding at the beginning of the year, weighted average remaining contractual life (Year) | 6 years 292 days | 3 years 73 days | 3 years 292 days |
Granted, number of shares (in shares) | 136,636 | ||
Granted, weighted average exercise price (in dollars per share) | $ 13.30 | ||
Granted, weighted average remaining contractual life (Year) | 9 years 146 days | ||
Exercised, number of shares (in shares) | (106,844) | (45,534) | |
Exercised, weighted average exercise price (in dollars per share) | $ 5 | $ 5 | |
Forfeited, number of shares (in shares) | (15,258) | (5,512) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 6.22 | $ 6.89 | |
Outstanding at end of period, number of shares (in shares) | 279,836 | 265,302 | 316,348 |
Outstanding at end of period, weighted average exercise price (in dollars per share) | $ 10.64 | $ 6.74 | $ 6.49 |
Exercisable at end of period, number of shares (in shares) | 143,200 | 235,462 | |
Exercisable at end of period, weighted average exercise price (in dollars per share) | $ 8.10 | $ 6.57 | |
Exercisable at end of period, weighted average remaining contractual life (Year) | 4 years 146 days | 2 years 328 days |
Note 14 - Stock Compensation _7
Note 14 - Stock Compensation Plans - Fair Value Assumptions (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Expected dividend yield | 2.11% |
Risk-free interest rate | 2.96% |
Expected life of options (Year) | 6 years 182 days |
Expected stock-price volatility | 12.42% |
Note 15 - Transactions With E_2
Note 15 - Transactions With Executive Officers and Directors (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans and Leases Receivable, Related Parties, Ending Balance | $ 0 | $ 0 |
Note 16 - Financial Instrumen_3
Note 16 - Financial Instruments With Off-balance Sheet Risk (Details Textual) - Office Facilities and Equipment [Member] | Dec. 31, 2018 |
Minimum [Member] | |
Lessee, Operating Lease, Term of Contract | 1 year |
Maximum [Member] | |
Lessee, Operating Lease, Term of Contract | 10 years |
Note 16 - Financial Instrumen_4
Note 16 - Financial Instruments with Off-balance Sheet Risk - Financial Instrument Commitments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loan Origination Commitments [Member] | ||
Contractual obligations | $ 17,593 | $ 15,921 |
Unfunded Commitments Under Lines of Credit [Member] | ||
Contractual obligations | 14,569 | 19,162 |
Standby Letters of Credit [Member] | ||
Contractual obligations | $ 83 | $ 183 |
Note 16 - Financial Instrumen_5
Note 16 - Financial Instruments with Off-balance Sheet Risk - Minimum Rental Commitments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 102 |
2020 | 100 |
2021 | 101 |
2022 | 53 |
2023 | 38 |
Thereafter | 138 |
Total | $ 532 |
Note 17 - Regulatory Matters (D
Note 17 - Regulatory Matters (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 27, 2018 | Dec. 31, 2014 | |
Common Equity Tier 1 Required For Capital Adequacy To Risk Weighted Assets | 4.50% | 4.50% | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% | 4.00% | |
Capital Conservation Buffer | 2.50% | |||
Risk Weighting for Certain Assets | 150.00% | 100.00% | ||
Common Equity Tier 1 Capital | $ 6,500,000 | |||
Payments of Dividends, Total | $ 511,000 | $ 364,000 | ||
Retained Earnings (Accumulated Deficit), Ending Balance | 14,136,000 | 12,643,000 | ||
Quaint Oak Bank [Member] | ||||
Payments of Dividends, Total | 750,000 | $ 250,000 | ||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 2,600,000 | |||
Subordinated Debt [Member] | ||||
Debt Instrument, Face Amount | $ 8,000,000 |
Note 17 - Regulatory Matters -
Note 17 - Regulatory Matters - Compliance With Regulatory Capital Requirements Under Banking Regulations (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2014 |
Total capital (to risk-weighted assets), actual, amount | $ 29,778 | $ 21,674 | |
Total capital (to risk-weighted assets), actual, ratio | 15.49% | 12.31% | |
Total capital (to risk-weighted assets), for capital adequacy, amount | $ 15,378 | $ 14,090 | |
Total capital (to risk-weighted assets), for capital adequacy, ratio | 8.00% | 8.00% | |
Total capital (to risk-weighted assets), to be well capitalized, amount | $ 19,233 | $ 17,613 | |
Total capital (to risk-weighted assets), to be well capitalized, ratio | 10.00% | 10.00% | |
Tier 1 capital (to risk-weighted assets), actual, amount | $ 27,786 | $ 19,835 | |
Tier 1 capital (to risk-weighted assets), actual, ratio | 14.45% | 11.26% | |
Tier 1 capital (to risk-weighted assets), for capital adequacy, amount | $ 11,534 | $ 10,568 | |
Tier 1 capital (to risk-weighted assets), for capital adequacy, ratio | 6.00% | 6.00% | 4.00% |
Tier 1 capital (to risk-weighted assets), to be well capitalized, amount | $ 15,378 | $ 14,090 | |
Tier 1 capital (to risk-weighted assets), to be well capitalized, ratio | 8.00% | 8.00% | |
Common Equity Tier 1 capital (to risk-weighted assets), actual, amount | $ 27,786 | $ 19,835 | |
Common Equity Tier 1 capital (to risk-weighted assets), actual, ratio | 14.45% | 11.26% | |
Common Equity Tier 1 capital (to risk-weighted assets), for capital adequacy, amount | $ 8,650 | $ 7,926 | |
Common Equity Tier 1 capital (to risk-weighted assets), for capital adequacy, ratio | 4.50% | 4.50% | |
Common Equity Tier 1 capital (to risk-weighted assets), to be well capitalized, amount | $ 12,495 | $ 11,449 | |
Common Equity Tier 1 capital (to risk-weighted assets), to be well capitalized, ratio | 6.50% | 6.50% | |
Tier 1 capital (to average assets), actual, amount | $ 27,786 | $ 19,835 | |
Tier 1 capital (to average assets), actual, ratio | 10.92% | 8.54% | |
Tier 1 capital (to average assets), for capital adequacy, amount | $ 10,175 | $ 9,288 | |
Tier 1 capital (to average assets), for capital adequacy, ratio | 4.00% | 4.00% | |
Tier 1 capital (to average assets), to be well capitalized, amount | $ 12,718 | $ 11,610 | |
Tier 1 capital (to average assets), to be well capitalized, ratio | 5.00% | 5.00% |
Note 18 - Fair Value Measurem_3
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments - Financial Assets and Liabilities on a Recurring and Nonrecurring (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Loans held for sale | $ 6,680 | $ 7,912 |
Fair Value, Measurements, Recurring [Member] | ||
Loans held for sale | 6,680 | 7,912 |
Total fair value measurements | 6,680 | 7,912 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held for sale | ||
Total fair value measurements | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held for sale | 6,680 | 7,912 |
Total fair value measurements | 6,680 | 7,912 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | ||
Total fair value measurements | ||
Fair Value, Measurements, Nonrecurring [Member] | ||
Total fair value measurements | 2,243 | 2,832 |
Impaired loans | 593 | 2,832 |
Other Real Estate Owned | 1,650 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total fair value measurements | ||
Impaired loans | ||
Other Real Estate Owned | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total fair value measurements | ||
Impaired loans | ||
Other Real Estate Owned | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total fair value measurements | 2,243 | 2,832 |
Impaired loans | 593 | 2,832 |
Other Real Estate Owned | 1,650 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Loans held for sale | 6,322 | 7,555 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | ||
Loans held for sale | 4,873 | 5,643 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Loans held for sale | 4,873 | 5,643 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held for sale | 4,873 | 5,643 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Government National Mortgage Association (GNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | ||
Loans held for sale | 1,082 | 1,342 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Loans held for sale | 1,082 | 1,342 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held for sale | 1,082 | 1,342 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation (FHLMC) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | ||
Loans held for sale | 367 | 570 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | ||
Loans held for sale | 367 | 570 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held for sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held for sale | 367 | 570 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association (FNMA) Insured Loans [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | ||
US Government Agencies Debt Securities [Member] | ||
Loans held for sale | 358 | 357 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Loans held for sale | 358 | 357 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held for sale | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held for sale | 358 | 357 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale |
Note 18 - Fair Value Measurem_4
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments - Additional Quantitative Information About Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Appraisal of Collateral [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | ||
Total fair value | $ 648 | $ 2,832 | |
Valuation techniques | [1] | Appraisal of collateral | Appraisal of collateral |
Unobservable input | [2] | Appraisal adjustments | Appraisal adjustments |
Other real estate owned, fair value | $ 1,650 | ||
Minimum [Member] | Meaurement Input, Appraisal Adjustments Rate [Member] | |||
Unobservable input, range | 0 | 0 | |
Unobservable input, range | 0 | ||
Maximum [Member] | Meaurement Input, Appraisal Adjustments Rate [Member] | |||
Unobservable input, range | 0.73 | 0.27 | |
Unobservable input, range | 0.12 | ||
Weighted Average [Member] | Meaurement Input, Appraisal Adjustments Rate [Member] | |||
Unobservable input, range | (0.08) | 0.01 | |
Unobservable input, range | (0.12) | ||
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are identifiable. | ||
[2] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. |
Note 18 - Fair Value Measurem_5
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Financial Assets | ||
Investment in interest-earning time deposits | $ 4,927 | $ 4,879 |
Loans held for sale | 6,680 | 7,912 |
Reported Value Measurement [Member] | ||
Financial Assets | ||
Investment in interest-earning time deposits | 4,927 | 4,879 |
Loans held for sale | 5,103 | 7,006 |
Loans receivable, net | 216,898 | 201,667 |
Financial Liabilities | ||
Deposits | 211,911 | 186,221 |
FHLB long-term borrowings | 15,000 | 18,000 |
Subordinated debt | 7,831 | |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets | ||
Investment in interest-earning time deposits | 4,927 | 4,912 |
Loans held for sale | 5,254 | 7,232 |
Loans receivable, net | 214,351 | 202,803 |
Financial Liabilities | ||
Deposits | 212,320 | 187,309 |
FHLB long-term borrowings | 14,973 | 16,982 |
Subordinated debt | 7,831 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets | ||
Investment in interest-earning time deposits | ||
Loans held for sale | ||
Loans receivable, net | ||
Financial Liabilities | ||
Deposits | 45,695 | 41,183 |
FHLB long-term borrowings | ||
Subordinated debt | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets | ||
Investment in interest-earning time deposits | ||
Loans held for sale | 5,254 | 7,232 |
Loans receivable, net | ||
Financial Liabilities | ||
Deposits | ||
FHLB long-term borrowings | ||
Subordinated debt | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets | ||
Investment in interest-earning time deposits | 4,927 | 4,912 |
Loans held for sale | ||
Loans receivable, net | 214,351 | 202,803 |
Financial Liabilities | ||
Deposits | 166,625 | 146,126 |
FHLB long-term borrowings | 14,973 | $ 16,982 |
Subordinated debt | $ 7,831 |
Note 19 - Quaint Oak Bancorp,_3
Note 19 - Quaint Oak Bancorp, Inc. (Parent Company Only) - Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | |||
Cash and cash equivalents | $ 26,012 | $ 7,910 | $ 9,300 |
Premises and equipment, net | 2,058 | 1,988 | |
Other assets | 1,060 | 1,234 | |
Total Assets | 271,404 | 239,596 | |
Liabilities and Stockholders’ Equity | |||
Subordinated debt | 7,831 | ||
Stockholders’ equity | 23,836 | 22,185 | 20,790 |
Total Liabilities and Stockholders’ Equity | 271,404 | 239,596 | |
Parent Company [Member] | |||
Assets | |||
Cash and cash equivalents | 1,596 | 211 | $ 206 |
Investment in Quaint Oak Bank | 28,454 | 20,552 | |
Premises and equipment, net | 1,588 | 1,423 | |
Other assets | 29 | 10 | |
Total Assets | 31,667 | 22,196 | |
Liabilities and Stockholders’ Equity | |||
Subordinated debt | 7,831 | ||
Other liabilities | 11 | ||
Stockholders’ equity | 23,836 | 22,185 | |
Total Liabilities and Stockholders’ Equity | $ 31,667 | $ 22,196 |
Note 19 - Quaint Oak Bancorp,_4
Note 19 - Quaint Oak Bancorp, Inc. (Parent Company Only) - Statements of Income (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Dividends from subsidiary | $ 750,000 | $ 250,000 |
Occupancy and equipment expense | 601,000 | 573,000 |
Interest on subordinated debt | 7,000 | |
Other expenses | 716,000 | 687,000 |
Total Expenses | 9,166,000 | 8,072,000 |
Net Income Before Income Taxes | 2,671,000 | 2,672,000 |
Income Tax Benefit | (667,000) | (1,205,000) |
Net Income | 2,004,000 | 1,467,000 |
Comprehensive Income | 2,017,000 | 1,492,000 |
Parent Company [Member] | ||
Rental income | 151,000 | 149,000 |
Total Income | 901,000 | 399,000 |
Occupancy and equipment expense | 116,000 | 101,000 |
Interest on subordinated debt | 7,000 | |
Other expenses | 116,000 | 96,000 |
Total Expenses | 239,000 | 197,000 |
Net Income Before Income Taxes | 662,000 | 202,000 |
Equity in Undistributed Net Income of Subsidiary | 1,324,000 | 1,246,000 |
Income Tax Benefit | 18,000 | 19,000 |
Net Income | 2,004,000 | 1,467,000 |
Comprehensive Income | $ 2,017,000 | $ 1,492,000 |
Note 19 - Quaint Oak Bancorp,_5
Note 19 - Quaint Oak Bancorp, Inc. (Parent Company Only) - Statements of Cash Flows (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Activities | ||
Net Income | $ 2,004,000 | $ 1,467,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation expense | 202,000 | 192,000 |
Stock-based compensation expense | 340,000 | 314,000 |
Net cash provided by operating activities | 4,864,000 | (420,000) |
Investing Activities | ||
Purchase of property and equipment | (272,000) | (450,000) |
Net cash used in investing activities | (15,722,000) | (22,486,000) |
Financing Activities | ||
Net proceeds from the issuance of subordinated debt | 7,831,000 | |
Dividends paid | (511,000) | (364,000) |
Purchase of treasury stock | (793,000) | (347,000) |
Proceeds from the reissuance of treasury stock | 64,000 | 94,000 |
Proceeds from the exercise of stock options | 534,000 | 206,000 |
Net cash provided by (used in) financing activities | 28,960,000 | 21,516,000 |
Net Increase in Cash and Cash Equivalents | 18,102,000 | (1,390,000) |
Cash and Cash Equivalents-Beginning of Year | 7,910,000 | 9,300,000 |
Cash and Cash Equivalents-End of Year | 26,012,000 | 7,910,000 |
Parent Company [Member] | ||
Operating Activities | ||
Net Income | 2,004,000 | 1,467,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Undistributed net income in subsidiary | (1,324,000) | (1,246,000) |
Depreciation expense | 44,000 | 38,000 |
Stock-based compensation expense | 340,000 | 314,000 |
Increase in other assets | (84,000) | (13,000) |
Decrease in other liabilities | (11,000) | (5,000) |
Net cash provided by operating activities | 969,000 | 555,000 |
Investing Activities | ||
Investment in subsidiary | (6,500,000) | |
Purchase of property and equipment | (209,000) | (139,000) |
Net cash used in investing activities | (6,709,000) | (139,000) |
Financing Activities | ||
Net proceeds from the issuance of subordinated debt | 7,831,000 | |
Dividends paid | (511,000) | (364,000) |
Purchase of treasury stock | (793,000) | (347,000) |
Proceeds from the reissuance of treasury stock | 64,000 | 94,000 |
Proceeds from the exercise of stock options | 534,000 | 206,000 |
Net cash provided by (used in) financing activities | 7,125,000 | (411,000) |
Net Increase in Cash and Cash Equivalents | 1,385,000 | 5,000 |
Cash and Cash Equivalents-Beginning of Year | 211,000 | 206,000 |
Cash and Cash Equivalents-End of Year | $ 1,596,000 | $ 211,000 |