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OVLY Oak Valley Bancorp

Document And Entity Information

Document And Entity Information - shares9 Months Ended
Sep. 30, 2020Nov. 02, 2020
Document Information [Line Items]
Entity Central Index Key0001431567
Entity Registrant NameOak Valley Bancorp
Amendment Flagfalse
Current Fiscal Year End Date--12-31
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2020
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateSep. 30,
2020
Document Transition Reportfalse
Entity File Number001-34142
Entity Incorporation, State or Country CodeCA
Entity Tax Identification Number26-2326676
Entity Address, Address Line One125 N. Third Ave
Entity Address, City or TownOakdale
Entity Address, State or ProvinceCA
Entity Address, Postal Zip Code95361
City Area Code209
Local Phone Number848-2265
Title of 12(b) SecurityCommon Stock
Trading SymbolOVLY
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding8,218,873

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)Sep. 30, 2020Dec. 31, 2019
ASSETS
Cash and due from banks $ 120,890,000 $ 133,809,000
Federal funds sold21,910,000 13,785,000
Cash and cash equivalents142,800,000 147,594,000
Securities - available for sale226,912,000 190,088,000
Securities - equity investments3,418,000 3,297,000
Loans, net of allowance for loan losses of $11,635 and $9,146 at September 30, 2020 and December 31, 2019, respectively1,009,032,000 741,047,000
Cash surrender value of life insurance25,154,000 24,631,000
Bank premises and equipment, net15,756,000 15,229,000
Other real estate owned137,000 0
Goodwill and other intangible assets, net3,764,000 3,837,000
Interest receivable and other assets22,078,000 22,062,000
Assets, Total1,449,051,000 1,147,785,000
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits1,311,188,000 1,019,929,000
Interest payable and other liabilities13,881,000 15,286,000
Total liabilities1,325,069,000 1,035,215,000
Shareholders’ equity
Common stock, no par value; 50,000,000 shares authorized, 8,218,873 and 8,210,147 shares issued and outstanding at at September 30, 2020 and December 31, 2019, respectively25,435,000 25,435,000
Additional paid-in capital4,084,000 3,777,000
Retained earnings87,700,000 80,961,000
Accumulated other comprehensive income, net of tax6,763,000 2,397,000
Total shareholders’ equity123,982,000 112,570,000
Liabilities and Equity, Total $ 1,449,051,000 $ 1,147,785,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in ThousandsSep. 30, 2020Dec. 31, 2019
Net of allowance for loan loss $ 11,635 $ 9,146
Common stock, par value (in dollars per share) $ 0 $ 0
Common stock, shares authorized (in shares)50,000,000 50,000,000
Common stock, shares issued (in shares)8,218,873 8,210,147
Common stock, shares outstanding (in shares)8,218,873 8,210,147

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
INTEREST INCOME
Interest and fees on loans $ 10,302 $ 8,878 $ 28,912 $ 25,920
Interest on securities1,398 1,463 4,356 4,526
Interest on federal funds sold4 46 51 153
Interest on deposits with banks25 442 421 1,274
Total interest income11,729 10,829 33,740 31,873
INTEREST EXPENSE
Deposits272 384 877 1,189
FHLB advances2 0 34 0
Total interest expense274 384 911 1,189
Net interest income11,455 10,445 32,829 30,684
Provision for loan losses193 240 2,503 335
Net interest income after provision for loan losses11,262 10,205 30,326 30,349
NON-INTEREST INCOME
Earnings on cash surrender value of life insurance174 174 524 426
Gains on calls of available-for-sale securities0 27 1 137
Other359 300 1,002 1,010
Total non-interest income1,228 1,275 3,535 3,792
NON-INTEREST EXPENSE
Salaries and employee benefits4,410 4,333 12,958 13,217
Occupancy expenses951 911 2,705 2,658
Data processing fees533 477 1,532 1,396
Regulatory assessments (FDIC & DFPI)111 28 213 240
Other operating expenses1,496 1,408 4,416 4,189
Total non-interest expense7,501 7,157 21,824 21,700
Net income before provision for income taxes4,989 4,323 12,037 12,441
Total provision for income taxes1,241 1,092 2,999 3,144
Net Income $ 3,748 $ 3,231 $ 9,038 $ 9,297
Net income per share (in dollars per share) $ 0.46 $ 0.40 $ 1.11 $ 1.15
Net income per diluted share (in dollars per share) $ 0.46 $ 0.40 $ 1.11 $ 1.15
Deposit Account [Member]
NON-INTEREST INCOME
Other income $ 303 $ 415 $ 959 $ 1,211
Debit Card [Member]
NON-INTEREST INCOME
Other income365 355 971 955
Mortgage Banking [Member]
NON-INTEREST INCOME
Other income $ 27 $ 4 $ 78 $ 53

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Net income $ 3,748 $ 3,231 $ 9,038 $ 9,297
Other comprehensive income:
Unrealized holding gains arising during the period1,916 742 6,198 4,276
Less: reclassification for net gains included in net income0 (27)(1)(137)
Other comprehensive income, before tax1,916 715 6,197 4,139
Tax expense related to items of other comprehensive income(566)(212)(1,831)(1,224)
Total other comprehensive income1,350 503 4,366 2,915
Comprehensive income $ 5,098 $ 3,734 $ 13,404 $ 12,212

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in ThousandsCommon Stock [Member]Additional Paid-in Capital [Member]Retained Earnings [Member]AOCI Attributable to Parent [Member]Total
Balances (in shares) at Dec. 31, 20188,194,805
Balances at Dec. 31, 2018 $ 25,429 $ 3,358 $ 70,686 $ (435) $ 99,038
Stock options exercised (in shares)1,000
Stock options exercised $ 6 6
Restricted stock issued (in shares)26,095
Restricted stock issued 0
Restricted stock forfeited (in shares)(4,500)
Restricted stock forfeited 0
Restricted stock surrendered for tax withholding (in shares)(6,763)
Restricted stock surrendered for tax withholding (121) (121)
Cash dividends declared (2,214) (2,214)
Stock based compensation 399 399
Other comprehensive income (loss) 2,915 2,915
Net income 9,297
Restricted stock forfeited 0
Balances (in shares) at Sep. 30, 20198,210,637
Balances at Sep. 30, 2019 $ 25,435 3,636 77,769 2,480 109,320
Balances (in shares) at Jun. 30, 20198,208,853
Balances at Jun. 30, 2019 $ 25,435 3,524 75,647 1,977 106,583
Stock options exercised (in shares)
Stock options exercised 0
Restricted stock issued (in shares)5,250
Restricted stock issued 0
Restricted stock forfeited (in shares)(3,000)
Restricted stock forfeited 0
Restricted stock surrendered for tax withholding (in shares)(466)
Restricted stock surrendered for tax withholding (6) (6)
Cash dividends declared (1,109) (1,109)
Stock based compensation 118 118
Other comprehensive income (loss) 503 503
Net income 3,231
Restricted stock forfeited 0
Balances (in shares) at Sep. 30, 20198,210,637
Balances at Sep. 30, 2019 $ 25,435 3,636 77,769 2,480 109,320
Balances (in shares) at Dec. 31, 20198,210,147
Balances at Dec. 31, 2019 $ 25,435 3,777 80,961 2,397 112,570
Restricted stock issued (in shares)17,756
Restricted stock issued 0
Restricted stock forfeited (in shares)(2,400)
Restricted stock forfeited 0
Restricted stock surrendered for tax withholding (in shares)(6,630)
Restricted stock surrendered for tax withholding (109) (109)
Cash dividends declared (2,299) (2,299)
Stock based compensation 416 416
Other comprehensive income (loss) 4,366 4,366
Net income 9,038 9,038
Restricted stock forfeited 0
Balances (in shares) at Sep. 30, 20208,218,873
Balances at Sep. 30, 2020 $ 25,435 4,084 87,700 6,763 123,982
Balances (in shares) at Jun. 30, 20208,215,407
Balances at Jun. 30, 2020 $ 25,435 3,957 85,102 5,413 119,907
Restricted stock issued (in shares)3,750
Restricted stock issued 0
Restricted stock surrendered for tax withholding (in shares)(284)
Restricted stock surrendered for tax withholding (3) (3)
Cash dividends declared (1,150) (1,150)
Stock based compensation 130 130
Other comprehensive income (loss) 1,350 1,350
Net income 3,748 3,748
Balances (in shares) at Sep. 30, 20208,218,873
Balances at Sep. 30, 2020 $ 25,435 $ 4,084 $ 87,700 $ 6,763 $ 123,982

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Cash dividends declared, per share (in dollars per share) $ 0.140 $ 0.135 $ 0.140 $ 0.135

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 9,038 $ 9,297
Adjustments to reconcile net income to net cash from operating activities:
Provision for loan losses2,503 335
Increase in deferred fees/costs, net5,391 113
Depreciation870 816
Amortization of investment securities, net444 715
Stock based compensation416 399
Gain on calls of available for sale securities(1)(137)
Earnings on cash surrender value of life insurance(524)(426)
Increase in interest payable and other liabilities11 4,977
(Increase) decrease in interest receivable(1,836)556
Decrease (increase) in other assets61 (4,524)
Net cash from operating activities16,375 12,121
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available for sale securities(67,627)(23,860)
Purchases of equity securities(62)(68)
Proceeds from maturities, calls, and principal paydowns of securities available for sale36,498 40,423
Investment in LIHTC(1,416)(512)
Net increase in loans(276,016)(20,674)
Purchase of FHLB Stock0 (404)
Purchase of BOLI policies0 (5,000)
Purchases of premises and equipment(1,397)(946)
Net cash used in investing activities(310,020)(11,041)
CASH FLOWS FROM FINANCING ACTIVITIES:
FHLB advanced funds50,000 0
FHLB payments(50,000)0
Shareholder cash dividends paid(2,299)(2,214)
Net increase (decrease) in demand deposits and savings accounts296,292 (5,270)
Net decrease in time deposits(5,033)(3,232)
Proceeds from exercise of stock options0 6
Tax withholding payments on vested restricted shares surrendered(109)(121)
Net cash from (used in) financing activities288,851 (10,831)
NET DECREASE IN CASH AND CASH EQUIVALENTS(4,794)(9,751)
CASH AND CASH EQUIVALENTS, beginning of period147,594 126,145
CASH AND CASH EQUIVALENTS, end of period142,800 116,394
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest909 1,200
Income taxes2,754 3,420
NON-CASH INVESTING ACTIVITIES:
Real estate acquired through foreclosure137 0
Change in unrealized gain on securities6,197 4,139
Change in contributions payable to LIHTC limited partner investment(590)(511)
Lease right-of-use assets538 4,550
NON-CASH FINANCING ACTIVITIES:
Present value of lease obligations $ (487) $ (4,947)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Basis of Accounting [Text Block]NOTE 1 On July 3, 2008 The consolidated financial statements include the accounts of the parent company and its wholly-owned bank subsidiary. Unless otherwise stated, the “Company” refers to the consolidated entity, Oak Valley Bancorp, while the “Bank” refers to Oak Valley Community Bank. All material intercompany transactions have been eliminated. The interim consolidated financial statements included in this report are unaudited but reflect all adjustments which, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the interim periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three nine September 30, 2020 not no 10 December 31, 2019. Oak Valley Community Bank is a California state-chartered bank. The Company was incorporated under the laws of the State of California on May 31, 1990 May 28, 1991. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates reflected in the Company’s consolidated financial statements include the allowance for loan losses and fair value measurements. The estimates and assumptions may may 19

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]NOTE 2 In June 2016, No. 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, October 2019, three January 1, 2023. not In January 2017, 2017 04 , Intangibles Goodwill and Other (Subtopic 350 Simplifying the Test for Goodwill Impairment second December 15, 2019. January 1, 2020 19 September 30, 2020. no not In August 2018, 2018 13, Fair Value Measurement (Subtopic 820 Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . 2018 13 2018 13 December 15, 2019. 2018 13 may first March 31, 2020, not In April 2019, 2019 04, Codification Improvements to Topic 326, 815, 825, January 1, 2020 not In May 2019, 2019 05, Financial Instruments - Credit Losses (Topic 326 not 2016 13, 2016 13 In March 2020, 2020 04 Reference Rate Reform (Subtopic 848 March 12, 2020 December 31, 2022.

Note 3 - Securities

Note 3 - Securities9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]NOTE 3 – SECURITIES Equity Securities The Company held equity securities with fair values of $3,418,000 and $3,297,000 as of September 30, 2020 December 31, 2019, three nine September 30, 2020 2019. 2016 01, three nine September 30, 2020, 2019. Debt Securities Debt securities have been classified in the financial statements as available for sale. The amortized cost and estimated fair values of debt securities as of September 30, 2020 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 24,580 $ 945 $ (9 ) $ 25,516 Collateralized mortgage obligations 1,332 20 (57 ) 1,295 Municipalities 122,879 9,425 (1 ) 132,303 SBA pools 5,283 5 (30 ) 5,258 Corporate debt 14,228 211 (419 ) 14,020 Asset backed securities 49,009 369 (858 ) 48,520 $ 217,311 $ 10,975 $ (1,374 ) $ 226,912 The following tables detail the gross unrealized losses and fair values of debt securities aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2020. (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 99 (1 ) $ 1,214 $ (8 ) $ 1,313 $ (9 ) Collateralized mortgage obligations 584 (57 ) 0 0 584 (57 ) Municipalities 1 (1 ) 0 0 1 (1 ) SBA pools 0 0 4,055 (30 ) 4,055 (30 ) Corporate debt 0 0 8,081 (419 ) 8,081 (419 ) Asset backed securities 15,921 (188 ) 24,333 (670 ) 40,254 (858 ) Total temporarily impaired securities $ 16,605 $ (247 ) $ 37,683 $ (1,127 ) $ 54,288 $ (1,374 ) As of September 30, 2020, 12 September 30, 2020, 12 third no not not The amortized cost and estimated fair value of debt securities as of September 30, 2020, may (dollars in thousands) Amortized Fair Cost Value Available-for-sale securities: Due in one year or less $ 17,985 $ 18,136 Due after one year through five years 80,469 85,593 Due after five years through ten years 52,764 55,849 Due after ten years 66,093 67,334 $ 217,311 $ 226,912 The amortized cost and estimated fair values of debt securities as of December 31, 2019 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 31,180 $ 566 $ (17 ) $ 31,729 Collateralized mortgage obligations 1,618 5 (9 ) 1,614 Municipalities 86,826 3,746 (1 ) 90,571 SBA pools 6,419 9 (33 ) 6,395 Corporate debt 19,253 173 (458 ) 18,968 Asset backed securities 41,389 76 (654 ) 40,811 $ 186,685 $ 4,575 $ (1,172 ) $ 190,088 The following tables detail the gross unrealized losses and fair values of debt securities segregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2019. (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 3,934 (11 ) $ 1,535 $ (6 ) $ 5,469 $ (17 ) Collateralized mortgage obligations 0 0 650 (9 ) 650 (9 ) Municipalities 0 0 411 (1 ) 411 (1 ) SBA pools 1,423 (7 ) 3,545 (26 ) 4,968 (33 ) Corporate debt 2,994 (6 ) 8,859 (452 ) 11,853 (458 ) Asset backed securities 12,891 (233 ) 21,313 (421 ) 34,204 (654 ) Total temporarily impaired securities $ 21,242 $ (257 ) $ 36,313 $ (915 ) $ 57,555 $ (1,172 ) At December 31, 2019, 12 December 31, 2019, 12 The Company recognized no gains on called securities during the three September 30, 2020 nine September 30, 2020, 2019. nine September 30, 2020 2019. Debt securities carried at $154,586,000 and $123,381,000 as of September 30, 2020 December 31, 2019,

Note 4 - Loans

Note 4 - Loans9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]NOTE 4 – LOANS The Company’s customers are primarily located in Stanislaus, San Joaquin, Tuolumne, Inyo, and Mono Counties. As of September 30, 2020, (in thousands) September 30, 2020 December 31, 2019 Commercial real estate: Commercial real estate- construction $ 36,737 $ 53,169 Commercial real estate- mortgages 527,827 475,146 Land 5,493 8,367 Farmland 79,693 70,320 Commercial and industrial 317,316 77,704 Consumer 712 1,274 Consumer residential 33,329 36,647 Agriculture 25,743 28,358 Total loans 1,026,850 750,985 Less: Deferred loan fees and costs, net (6,183 ) (792 ) Allowance for loan losses (11,635 ) (9,146 ) Net loans $ 1,009,032 $ 741,047 Paycheck Protection Program. April 16, 2020, $350 $310 April 27, 2020 August 8, 2020. September 30, 2020, not two June 5, 2020, five 1%. 2021. September 30, 2020, no COVID- 19 Loan Payment Deferrals 19 six first 2020. September 30, 2020, no 19 not Loan Origination/Risk Management. Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Underwriting standards are designed to promote relationship banking rather than transactional banking. Once it is determined that the borrower’s management possesses sound ethics and solid business acumen, the Company’s management examines current and projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily made based on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not may may may may Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may third September 30, 2020 December 31, 2019, With respect to loans to developers and builders that are secured by non-owner occupied properties that the Company may may may Agricultural production, real estate and development lending is susceptible to credit risks including adverse weather conditions, pest and disease, as well as market price fluctuations and foreign competition. Agricultural loan underwriting standards are maintained by following Company policies and procedures in place to minimize risk in this lending segment. These standards consist of limiting credit to experienced farmers who have demonstrated farm management capabilities, requiring cash flow projections displaying margins sufficient for repayment from normal farm operations along with equity injected as required by policy, as well as providing adequate secondary repayment and sponsorship including satisfactory collateral support. Credit enhancement obtained through government guarantee programs may The Company originates consumer loans utilizing common underwriting criteria specified in policy. To monitor and manage consumer loan risk, policies and procedures are developed and modified, as needed, jointly by line and staff personnel. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Additionally, trend and outlook reports are reviewed by management on a regular basis. Underwriting standards for 1 4 not The Company maintains an independent loan review program that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Bank’s policies and procedures. Non-Accrual and Past Due Loans. not may may not Non-accrual loans, segregated by class of loans, were as follows: (in thousands) September 30, 2020 December 31, 2019 Commercial real estate: Commercial real estate- construction $ 0 $ 0 Commercial real estate- mortgages 0 0 Land 757 855 Farmland 0 0 Commercial and industrial 0 0 Consumer 0 0 Consumer residential 0 248 Agriculture 0 0 Total non-accrual loans $ 757 $ 1,103 Had non-accrual loans performed in accordance with their original contract terms, the Company would have recognized additional interest income of approximately $9,000 and $29,000 in the three nine September 30, 2020, 2019. The following table analyzes past due loans including the past due non-accrual loans in the above table, segregated by class of loans, as of September 30, 2020 ( September 30, 2020 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 36,737 $ 36,737 $ 0 Commercial R.E. - mortgages 0 0 0 0 527,827 527,827 0 Land 0 0 0 0 5,493 5,493 0 Farmland 0 0 0 0 79,693 79,693 0 Commercial and industrial 0 0 0 0 317,316 317,316 0 Consumer 0 0 0 0 712 712 0 Consumer residential 0 0 0 0 33,329 33,329 0 Agriculture 0 0 0 0 25,743 25,743 0 Total $ 0 $ 0 $ 0 $ 0 $ 1,026,850 $ 1,026,850 $ 0 The following table analyzes past due loans including the past due non-accrual loans in the above table, segregated by class of loans, as of December 31, 2019 December 31, 2019 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 53,169 $ 53,169 $ 0 Commercial R.E. - mortgages 0 0 0 0 475,146 475,146 0 Land 0 0 0 0 8,367 8,367 0 Farmland 0 0 111 111 70,209 70,320 0 Commercial and industrial 0 0 0 0 77,704 77,704 0 Consumer 2 0 0 2 1,272 1,274 0 Consumer residential 0 0 137 137 36,510 36,647 0 Agriculture 0 0 0 0 28,358 28,358 0 Total $ 2 $ 0 $ 248 $ 250 $ 750,735 $ 750,985 $ 0 Impaired Loans. three nine September 30, 2020 2019. Impaired loans as of September 30, 2020 (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance September 30, 2020 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 805 0 757 757 680 Farmland 0 0 0 0 0 Commercial and Industrial 0 0 0 0 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 0 0 0 0 0 Total $ 805 $ 0 $ 757 $ 757 $ 680 Average recorded investment in impaired loans outstanding as of September 30, 2020 2019 (in thousands) Average Recorded Investment for the Average Recorded Investment for the 2020 2019 2020 2019 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 Land 769 890 802 901 Farmland 0 0 0 0 Commercial and Industrial 0 0 0 0 Consumer 0 0 0 0 Consumer residential 22 126 117 51 Agriculture 0 0 0 0 Total $ 791 $ 1,016 $ 919 $ 952 Impaired loans as of December 31, 2019 (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment December 31, 2019 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 0 Land 873 0 855 855 680 892 Farmland 0 0 0 0 0 0 Commercial and Industrial 0 0 0 0 0 0 Consumer 0 0 0 0 0 0 Consumer residential 312 248 0 248 0 113 Agriculture 0 0 0 0 0 0 Total $ 1,185 $ 248 $ 855 $ 1,103 $ 680 $ 1,005 Troubled Debt Restructurings – As of September 30, 2020, September 30, 2020 not 19 December 31, 2019, September 30, 2020 December 31, 2019, September 30, 2020 December 31, 2019. During the nine September 30, 2020, three nine September 30, 2019, one There were no loans modified as troubled debt restructurings within the previous twelve nine September 30, 2020 2019. ninety Loan Risk Grades– The Company grades loans using the following letter system: 1 2 3A 3B 3C 4 5 6 7 8 1. Exceptional Loan 1 ● A high level of liquidity and whose debt-servicing capacity exceeds expected obligations by a substantial margin. ● Where leverage is below average for the industry and earnings are consistent or growing without severe vulnerability to economic cycles. ● Also included in this rating (but not one 2. Quality Loan No 2 ● Unquestionable debt-servicing capacity to cover all obligations in the ordinary course of business from well-defined primary and secondary sources. ● Consistent strong earnings. ● A solid equity base. 3A. Better than Acceptable Loan 3 three three 3 3A ● Strong earnings with no three ● Long term experienced management with depth and defined management succession. ● The loan has no ● Loan-to-value on real estate secured transactions is 10% 20% ● Very liquid balance sheet that may ● Little to no 3B. Acceptable Loan 3B 3A 3C not ● Are those where the borrower has average financial strengths, a history of profitable operations and experienced management. ● Are those where the borrower can be expected to handle normal credit needs in a satisfactory manner. 3C. Marginally Acceptable Loan 3C 3Bs ● Requires collateral. ● A credit facility where the borrower has average financial strengths, but usually lacks reliable secondary sources of repayment other than the subject collateral. ● Other common characteristics can include some or all of the following: minimal background experience of management, lacking continuity of management, a start-up operation, erratic historical profitability (acceptable reasons-well identified), lack of or marginal sponsorship of guarantor, and government guaranteed loans. 4 ( W ). Watch Acceptable Loan may ● Any unexpected short-term adverse financial performance from budgeted projections or a prior period’s results (i.e., declining profits, sales, margins, cash flow, or increased reliance on leverage, including adverse balance sheet ratios, trade debt issues, etc.). ● Any managerial or personal problems with company management, decline in the entire industry or local economic conditions, or failure to provide financial information or other documentation as requested. ● Issues regarding delinquency, overdrafts, or renewals. ● Any other issues that cause concern for the company. ● Loans to individuals or loans supported by guarantors with marginal net worth and/or marginal collateral. ● Weaknesses that are identified are short-term in nature. ● Loans in this category are usually accounts the Bank would want to retain providing a positive turnaround can be expected within a reasonable time frame. Grade 4 5 . Special Mention Loan may, ● The lending officer may ● Questions exist regarding the condition of and/or control over collateral. ● Economic or market conditions may ● A declining trend in the obligor’s operations or an imbalanced position in the balance sheet exists, but not 6 . Substandard Loan not not 7 . Doubtful Loan one may may may not 25 40 65 A proper classification of such a credit would show 40 percent substandard, 25 percent doubtful, and 35 percent loss. A credit classified as doubtful should be resolved within a ‘reasonable’ period of time. Reasonable is generally defined as the period between examinations. In other words, a credit classified as doubtful at an examination should be cleared up before the next exam. However, there may 8 . Loss not not no not may not As of September 30, 2020 December 31, 2019, 7 Doubtful or 8 The following table presents weighted average risk grades of the Company’s loan portfolio: September 30, 2020 December 31, 2019 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.13 3.00 Commercial real estate - mortgages 3.10 3.02 Land 4.02 3.72 Farmland 3.07 3.04 Commercial and industrial 3.01 3.05 Consumer 1.78 2.29 Consumer residential 3.00 3.02 Agriculture 3.11 3.17 Total gross loans 3.07 3.03 The following table presents risk grade totals by class of loans as of September 30, 2020 December 31, 2019. 1 4 (in thousands) Commercial R.E. Commercial R.E. Land Farmland Commercial and Industrial Consumer Consumer Residential Agriculture Total September 30, 2020 Pass $ 36,737 $ 518,731 $ 4,736 $ 78,268 $ 315,665 $ 689 $ 33,291 $ 24,418 $ 1,012,535 Special mention - 9,096 - 365 - - - 1,153 10,614 Substandard - - 757 1,060 1,651 23 38 172 3,701 Total loans $ 36,737 $ 527,827 $ 5,493 $ 79,693 $ 317,316 $ 712 $ 33,329 $ 25,743 $ 1,026,850 December 31, 2019 Pass $ 53,169 $ 471,594 $ 7,512 $ 69,002 $ 74,960 $ 1,249 $ 36,470 $ 26,512 $ 740,468 Special mention - 3,552 - 1,207 550 - - 1,846 7,155 Substandard - - 855 111 2,194 25 177 - 3,362 Total loans $ 53,169 $ 475,146 $ 8,367 $ 70,320 $ 77,704 $ 1,274 $ 36,647 $ 28,358 $ 750,985 Allowance for Loan Losses. 310, 450, not The level of the allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and unidentified losses inherent in the current loan portfolio. Portions of the allowance may The Company’s allowance for loan losses consists of three 310 450 450 The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor’s ability to repay; (ii) the underlying collateral, if any; and (iii) the economic environment and industry in which the borrower operates. This analysis is performed at the relationship manager level for all commercial loans. When a loan has a calculated grade of 5 Historical valuation allowances are calculated based on the historical loss experience of specific types of loans and the internal risk grade of such loans at the time they were charged-off. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are periodically updated based on actual charge-off experience. A historical valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio and the total dollar amount of the loans in the pool. The Company’s pools of similar loans include similarly risk-graded groups of commercial and industrial loans, commercial real estate loans, consumer residential, consumer and agriculture. General valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Bank and the Company. In general, such valuation allowances are determined by evaluating, among other things: (i) the experience, ability and effectiveness of the Bank’s lending management and staff; (ii) the effectiveness of the Bank’s loan policies, procedures and internal controls; (iii) changes in asset quality; (iv) changes in loan portfolio volume; (v) the composition and concentrations of credit; (vi) the impact of competition on loan structuring and pricing; (vii) the effectiveness of the internal loan review function; (viii) the impact of environmental risks on portfolio risks; and (ix) the impact of rising interest rates on portfolio risk. Management evaluates the degree of risk that each one Included in the general valuation allowances are allocations for groups of similar loans with risk characteristics that exceed certain concentration limits established by management. Concentration risk limits have been established, among other things, for certain industry concentrations, large balance and highly leveraged credit relationships that exceed specified risk grades, and loans originated with policy exceptions that exceed specified risk grades. Loans identified as losses by management, internal loan review and/or bank examiners are charged-off. Furthermore, consumer loan accounts are charged-off automatically based on regulatory requirements. The following table details activity in the allowance for loan losses by portfolio segment for the three nine September 30, 2020 2019. one not For the Three and Nine Months Ended September 30, 2020 2019 (in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2020 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 8,943 $ 1,072 $ 34 $ 321 $ 541 $ 532 $ 11,443 Charge-offs 0 0 (5 ) 0 0 0 (5 ) Recoveries 0 0 4 0 0 0 4 Provision for (reversal of) loan losses 227 (43 ) (11 ) 16 (31 ) 35 193 Ending balance $ 9,170 $ 1,029 $ 22 $ 337 $ 510 $ 567 $ 11,635 (in thousands) Commercial Commercial Consumer Nine Months Ended September 30, 2020 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 7,170 $ 1,000 $ 38 $ 306 $ 525 $ 107 $ 9,146 Charge-offs 0 0 (22 ) (2 ) 0 0 (24 ) Recoveries 0 0 9 1 0 0 10 Provision for (reversal of) loan losses 2,000 29 (3 ) 32 (15 ) 460 2,503 Ending balance $ 9,170 $ 1,029 $ 22 $ 337 $ 510 $ 567 $ 11,635 Commercial Commercial Consumer Three Months Ended September 30, 2019 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,675 $ 1,095 $ 33 $ 292 $ 672 $ 3 $ 8,770 Charge-offs 0 0 (6 ) 0 0 0 (6 ) Recoveries 0 0 1 0 0 0 1 Provision for (reversal of) loan losses 210 (77 ) 6 26 33 42 240 Ending balance $ 6,885 $ 1,018 $ 34 $ 318 $ 705 $ 45 $ 9,005 Commercial Commercial Consumer Nine Months Ended September 30, 2019 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,580 $ 1,065 $ 39 $ 304 $ 693 $ 4 $ 8,685 Charge-offs 0 0 (20 ) 0 0 0 (20 ) Recoveries 0 0 4 1 0 0 5 Provision for (reversal of) loan losses 305 (47 ) 11 13 12 41 335 Ending balance $ 6,885 $ 1,018 $ 34 $ 318 $ 705 $ 45 $ 9,005 The following table details the allowance for loan losses and ending gross loan balances as of September 30, 2020 December 31, 2019, (in thousands) Commercial Commercial Consumer September 30, 2020 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 8,490 1,029 22 337 510 567 10,955 $ 9,170 $ 1,029 $ 22 $ 337 $ 510 $ 567 $ 11,635 Ending gross loan balances: Individually evaluated for impairment $ 757 $ 0 $ 0 $ 0 $ 0 $ 0 $ 757 Collectively evaluated for impairment 648,993 317,316 712 33,329 25,743 0 1,026,093 $ 649,750 $ 317,316 $ 712 $ 33,329 $ 25,743 $ 0 $ 1,026,850 December 31, 2019 Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 6,490 1,000 38 306 525 107 8,466 $ 7,170 $ 1,000 $ 38 $ 306 $ 525 $ 107 $ 9,146 Ending gross loan balances: Individually evaluated for impairment $ 855 $ 0 $ 0 $ 248 $ 0 $ 0 $ 1,103 Collectively evaluated for impairment 606,147 77,704 1,274 36,399 28,358 0 749,882 $ 607,002 $ 77,704 $ 1,274 $ 36,647 $ 28,358 $ 0 $ 750,985 Changes in the reserve for off-balance-sheet commitments were as follows: (in thousands) THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2020 2019 2020 2019 Balance, beginning of period $ 419 $ 480 $ 427 $ 396 Provision (Reversal) to Operations for Off Balance Sheet Commitments (32 ) (47 ) (40 ) 37 Balance, end of period $ 387 $ 433 $ 387 $ 433 The method for calculating the reserve for off-balance-sheet loan commitments is based on a reserve percentage which is less than other outstanding loan types because they are at a lower risk level. This reserve percentage, based on many factors including historical losses and existing economic conditions, is evaluated by management periodically and is applied to the total undisbursed loan commitment balance to calculate the reserve for off-balance-sheet commitments. Reserves for off-balance-sheet commitments are recorded in interest payable and other liabilities on the condensed consolidated balance sheets. At September 30, 2020 December 31, 2019,

Note 5 - Leases

Note 5 - Leases9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]NOTE 5 — LEASES We have historically entered into a number of lease arrangements under which we are the lessee. We have elected the practical expedient to rely on our original lease classification at the commencement of each lease contract, and not No. 2016 02, Leases (Topic 842 January 1, 2019. 1 2 $5,000 not not not twelve no January 1, 2019. September 30, 2020, Most of our office leases include one not not The Company determined the operating lease liability as of January 1, 2019, January 1, 2019, January 1, 2019, January 1, 2019 January 1, 2019 For the three nine September 30, 2020,

Note 6 - Financial Instruments

Note 6 - Financial Instruments and Fair Value Measurements9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]NOTE 6 Fair values of financial instruments — September 30, 2020 December 31, 2019. not We determine the fair values of our financial instruments based on the fair value hierarchy established under applicable accounting guidance which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value: Level 1: Level 2: Level 3: In certain cases, the inputs used to measure fair value may no three nine September 30, 2020 2019. Following is a description of valuation methodologies used for assets and liabilities in the tables below: Cash and cash equivalents – 1 Restricted Equity Securities- 2 Loans receivable not 3 Deposit liabilities 3 Interest receivable and payable - 2 Off-balance-sheet instruments 3 The estimated fair values of the Company’s financial instruments not September 30, 2020
Hierarchy
(in thousands) Carrying Fair Valuation
Amount Value Level
Financial assets:
Cash and cash equivalents 142,800 142,800 1
Restricted equity securities 4,758 4,758 2
Loans, net 1,009,032 1,017,792 3
Interest receivable 5,293 5,293 2
Financial liabilities:
Deposits (1,311,188 ) (1,311,245 ) 3
Interest payable (18 ) (18 ) 2
Off-balance-sheet assets (liabilities):
Commitments and standby letters of credit (1,488 ) 3 The estimated fair values of the Company’s financial instruments not December 31, 2019
Hierarchy
(in thousands) Carrying Fair Valuation
Amount Value Level
Financial assets:
Cash and cash equivalents $ 147,594 $ 147,594 1
Restricted equity securities 4,761 4,761 2
Loans, net 741,047 742,484 3
Interest receivable 3,457 3,457 2
Financial liabilities:
Deposits (1,019,929 ) (1,019,654 ) 3
Interest payable (50 ) (50 ) 2
Off-balance-sheet assets (liabilities):
Commitments and standby letters of credit (1,647 ) 3 The following table presents the carrying value of recurring and nonrecurring financial instruments that were measured at fair value and that were still held in the condensed consolidated balance sheets at each respective period end, by level within the fair value hierarchy as of September 30, 2020 December 31, 2019.
Fair Value Measurements as of September 30, 2020 Using
(in thousands) September 30, 2020 Quoted Prices Significant Significant
Assets and liabilities measured on a recurring basis:
Available-for-sale securities:
U.S. agencies $ 25,516 $ 0 $ 25,516 $ 0
Collateralized mortgage obligations 1,295 0 1,295 0
Municipalities 132,303 0 132,303 0
SBA pools 5,258 0 5,258 0
Corporate debt 14,020 0 14,020 0
Asset backed securities 48,520 0 48,520 0
Equity Securities:
Mutual fund $ 3,418 $ 3,418 $ 0 $ 0
Assets and liabilities measured on a non-recurring basis:
Impaired loans:
Land $ 77 $ 0 $ 0 $ 77
Other real estate owned 137 0 0 137
Fair Value Measurements at Dec ember 3 1 , 201 9 Using
(in thousands) Dec ember 3 1 , 201 9 Quoted Prices Significant Significant
Assets and liabilities measured on a recurring basis:
Available-for-sale securities:
U.S. agencies $ 31,729 $ 0 $ 31,729 $ 0
Collateralized mortgage obligations 1,614 0 1,614 0
Municipalities 90,571 0 90,571 0
SBA pools 6,395 0 6,395 0
Corporate debt 18,968 0 18,968 0
Asset backed securities 40,811 0 40,811 0
Equity Securities:
Mutual fund $ 3,297 $ 3,297 $ 0 $ 0
Assets and liabilities measured on a non-recurring basis:
Impaired loans:
Land $ 175 $ 0 $ 0 $ 175
Consumer residential 248 0 0 248 Available-for-sale and equity securities - not 1 2 3 Impaired loans 820 310, Accounting by Creditors for Impairment of a Loan not not 3. not no 3. There have been no nine September 30, 2020.

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]NOTE 7 – EARNINGS PER SHARE Earnings per share (“EPS”) are based upon the weighted average number of common shares outstanding during each year. The following table shows: ( 1 2 3 two not The Company’s calculation of basic and diluted EPS for the three nine September 30, 2020 2019 THREE MONTHS ENDED (In thousands) SEPTEMBER 3 0 , 20 20 201 9 BASIC EARNINGS PER SHARE Net income $ 3,748 $ 3,231 Weighted average shares outstanding 8,126 8,105 Net income per common share $ 0.46 $ 0.40 DILUTED EARNINGS PER SHARE Net income $ 3,748 $ 3,231 Weighted average shares outstanding 8,126 8,105 Effect of dilutive non-vested restricted shares 8 15 Weighted average shares of common stock and common stock equivalents 8,134 8,120 Net income per diluted common share $ 0.46 $ 0.40 NINE MONTHS ENDED (In thousands) SEPTEMBER 30, 2020 2019 BASIC EARNINGS PER SHARE Net income $ 9,038 $ 9,297 Weighted average shares outstanding 8,122 8,100 Net income per common share $ 1.11 $ 1.15 DILUTED EARNINGS PER SHARE Net income $ 9,038 $ 9,297 Weighted average shares outstanding 8,122 8,100 Effect of dilutive non-vested restricted shares 11 13 Weighted average shares of common stock and common stock equivalents 8,133 8,113 Net income per diluted common share $ 1.11 $ 1.15

Note 8 - Risks and Uncertaintie

Note 8 - Risks and Uncertainties9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Effect of Covid-19 Pandemic [Text Block]NOTE 8 – RISKS AND UNCERTAINTIES The coronavirus (“COVID- 19” September 30, 2020, not not The most significant impact of COVID- 19 19 no first nine 2020 19 19 may not Increased demand for liquidity by clients is another impact that could occur should the COVID- 19 September 30, 2020, 19, The extent to which the COVID- 19 may 1A, 19.

Note 3 - Securities (Tables)

Note 3 - Securities (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Available-for-sale Securities [Table Text Block](dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 24,580 $ 945 $ (9 ) $ 25,516 Collateralized mortgage obligations 1,332 20 (57 ) 1,295 Municipalities 122,879 9,425 (1 ) 132,303 SBA pools 5,283 5 (30 ) 5,258 Corporate debt 14,228 211 (419 ) 14,020 Asset backed securities 49,009 369 (858 ) 48,520 $ 217,311 $ 10,975 $ (1,374 ) $ 226,912 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: U.S. agencies $ 31,180 $ 566 $ (17 ) $ 31,729 Collateralized mortgage obligations 1,618 5 (9 ) 1,614 Municipalities 86,826 3,746 (1 ) 90,571 SBA pools 6,419 9 (33 ) 6,395 Corporate debt 19,253 173 (458 ) 18,968 Asset backed securities 41,389 76 (654 ) 40,811 $ 186,685 $ 4,575 $ (1,172 ) $ 190,088
Schedule of Unrealized Loss on Investments [Table Text Block](dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 99 (1 ) $ 1,214 $ (8 ) $ 1,313 $ (9 ) Collateralized mortgage obligations 584 (57 ) 0 0 584 (57 ) Municipalities 1 (1 ) 0 0 1 (1 ) SBA pools 0 0 4,055 (30 ) 4,055 (30 ) Corporate debt 0 0 8,081 (419 ) 8,081 (419 ) Asset backed securities 15,921 (188 ) 24,333 (670 ) 40,254 (858 ) Total temporarily impaired securities $ 16,605 $ (247 ) $ 37,683 $ (1,127 ) $ 54,288 $ (1,374 ) (dollars in thousands) Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. agencies $ 3,934 (11 ) $ 1,535 $ (6 ) $ 5,469 $ (17 ) Collateralized mortgage obligations 0 0 650 (9 ) 650 (9 ) Municipalities 0 0 411 (1 ) 411 (1 ) SBA pools 1,423 (7 ) 3,545 (26 ) 4,968 (33 ) Corporate debt 2,994 (6 ) 8,859 (452 ) 11,853 (458 ) Asset backed securities 12,891 (233 ) 21,313 (421 ) 34,204 (654 ) Total temporarily impaired securities $ 21,242 $ (257 ) $ 36,313 $ (915 ) $ 57,555 $ (1,172 )
Investments Classified by Contractual Maturity Date [Table Text Block](dollars in thousands) Amortized Fair Cost Value Available-for-sale securities: Due in one year or less $ 17,985 $ 18,136 Due after one year through five years 80,469 85,593 Due after five years through ten years 52,764 55,849 Due after ten years 66,093 67,334 $ 217,311 $ 226,912

Note 4 - Loans (Tables)

Note 4 - Loans (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block](in thousands) September 30, 2020 December 31, 2019 Commercial real estate: Commercial real estate- construction $ 36,737 $ 53,169 Commercial real estate- mortgages 527,827 475,146 Land 5,493 8,367 Farmland 79,693 70,320 Commercial and industrial 317,316 77,704 Consumer 712 1,274 Consumer residential 33,329 36,647 Agriculture 25,743 28,358 Total loans 1,026,850 750,985 Less: Deferred loan fees and costs, net (6,183 ) (792 ) Allowance for loan losses (11,635 ) (9,146 ) Net loans $ 1,009,032 $ 741,047
Financing Receivable, Nonaccrual [Table Text Block](in thousands) September 30, 2020 December 31, 2019 Commercial real estate: Commercial real estate- construction $ 0 $ 0 Commercial real estate- mortgages 0 0 Land 757 855 Farmland 0 0 Commercial and industrial 0 0 Consumer 0 0 Consumer residential 0 248 Agriculture 0 0 Total non-accrual loans $ 757 $ 1,103
Financing Receivable, Past Due [Table Text Block]September 30, 2020 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 36,737 $ 36,737 $ 0 Commercial R.E. - mortgages 0 0 0 0 527,827 527,827 0 Land 0 0 0 0 5,493 5,493 0 Farmland 0 0 0 0 79,693 79,693 0 Commercial and industrial 0 0 0 0 317,316 317,316 0 Consumer 0 0 0 0 712 712 0 Consumer residential 0 0 0 0 33,329 33,329 0 Agriculture 0 0 0 0 25,743 25,743 0 Total $ 0 $ 0 $ 0 $ 0 $ 1,026,850 $ 1,026,850 $ 0 December 31, 2019 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Greater Than 90 Days Past Due and Still Accruing Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 53,169 $ 53,169 $ 0 Commercial R.E. - mortgages 0 0 0 0 475,146 475,146 0 Land 0 0 0 0 8,367 8,367 0 Farmland 0 0 111 111 70,209 70,320 0 Commercial and industrial 0 0 0 0 77,704 77,704 0 Consumer 2 0 0 2 1,272 1,274 0 Consumer residential 0 0 137 137 36,510 36,647 0 Agriculture 0 0 0 0 28,358 28,358 0 Total $ 2 $ 0 $ 248 $ 250 $ 750,735 $ 750,985 $ 0
Impaired Financing Receivables [Table Text Block](in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance September 30, 2020 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 Land 805 0 757 757 680 Farmland 0 0 0 0 0 Commercial and Industrial 0 0 0 0 0 Consumer 0 0 0 0 0 Consumer residential 0 0 0 0 0 Agriculture 0 0 0 0 0 Total $ 805 $ 0 $ 757 $ 757 $ 680 (in thousands) Average Recorded Investment for the Average Recorded Investment for the 2020 2019 2020 2019 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 Land 769 890 802 901 Farmland 0 0 0 0 Commercial and Industrial 0 0 0 0 Consumer 0 0 0 0 Consumer residential 22 126 117 51 Agriculture 0 0 0 0 Total $ 791 $ 1,016 $ 919 $ 952 (in thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Recorded Investment December 31, 2019 Commercial real estate: Commercial R.E. - construction $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Commercial R.E. - mortgages 0 0 0 0 0 0 Land 873 0 855 855 680 892 Farmland 0 0 0 0 0 0 Commercial and Industrial 0 0 0 0 0 0 Consumer 0 0 0 0 0 0 Consumer residential 312 248 0 248 0 113 Agriculture 0 0 0 0 0 0 Total $ 1,185 $ 248 $ 855 $ 1,103 $ 680 $ 1,005
Financing Receivable Credit Quality Indicators [Table Text Block](in thousands) Commercial R.E. Commercial R.E. Land Farmland Commercial and Industrial Consumer Consumer Residential Agriculture Total September 30, 2020 Pass $ 36,737 $ 518,731 $ 4,736 $ 78,268 $ 315,665 $ 689 $ 33,291 $ 24,418 $ 1,012,535 Special mention - 9,096 - 365 - - - 1,153 10,614 Substandard - - 757 1,060 1,651 23 38 172 3,701 Total loans $ 36,737 $ 527,827 $ 5,493 $ 79,693 $ 317,316 $ 712 $ 33,329 $ 25,743 $ 1,026,850 December 31, 2019 Pass $ 53,169 $ 471,594 $ 7,512 $ 69,002 $ 74,960 $ 1,249 $ 36,470 $ 26,512 $ 740,468 Special mention - 3,552 - 1,207 550 - - 1,846 7,155 Substandard - - 855 111 2,194 25 177 - 3,362 Total loans $ 53,169 $ 475,146 $ 8,367 $ 70,320 $ 77,704 $ 1,274 $ 36,647 $ 28,358 $ 750,985
Financing Receivable, Allowance for Credit Loss [Table Text Block](in thousands) Commercial Commercial Consumer Three Months Ended September 30, 2020 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 8,943 $ 1,072 $ 34 $ 321 $ 541 $ 532 $ 11,443 Charge-offs 0 0 (5 ) 0 0 0 (5 ) Recoveries 0 0 4 0 0 0 4 Provision for (reversal of) loan losses 227 (43 ) (11 ) 16 (31 ) 35 193 Ending balance $ 9,170 $ 1,029 $ 22 $ 337 $ 510 $ 567 $ 11,635 (in thousands) Commercial Commercial Consumer Nine Months Ended September 30, 2020 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 7,170 $ 1,000 $ 38 $ 306 $ 525 $ 107 $ 9,146 Charge-offs 0 0 (22 ) (2 ) 0 0 (24 ) Recoveries 0 0 9 1 0 0 10 Provision for (reversal of) loan losses 2,000 29 (3 ) 32 (15 ) 460 2,503 Ending balance $ 9,170 $ 1,029 $ 22 $ 337 $ 510 $ 567 $ 11,635 Commercial Commercial Consumer Three Months Ended September 30, 2019 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,675 $ 1,095 $ 33 $ 292 $ 672 $ 3 $ 8,770 Charge-offs 0 0 (6 ) 0 0 0 (6 ) Recoveries 0 0 1 0 0 0 1 Provision for (reversal of) loan losses 210 (77 ) 6 26 33 42 240 Ending balance $ 6,885 $ 1,018 $ 34 $ 318 $ 705 $ 45 $ 9,005 Commercial Commercial Consumer Nine Months Ended September 30, 2019 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Beginning balance $ 6,580 $ 1,065 $ 39 $ 304 $ 693 $ 4 $ 8,685 Charge-offs 0 0 (20 ) 0 0 0 (20 ) Recoveries 0 0 4 1 0 0 5 Provision for (reversal of) loan losses 305 (47 ) 11 13 12 41 335 Ending balance $ 6,885 $ 1,018 $ 34 $ 318 $ 705 $ 45 $ 9,005 (in thousands) Commercial Commercial Consumer September 30, 2020 Real Estate and Industrial Consumer Residential Agriculture Unallocated Total Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 8,490 1,029 22 337 510 567 10,955 $ 9,170 $ 1,029 $ 22 $ 337 $ 510 $ 567 $ 11,635 Ending gross loan balances: Individually evaluated for impairment $ 757 $ 0 $ 0 $ 0 $ 0 $ 0 $ 757 Collectively evaluated for impairment 648,993 317,316 712 33,329 25,743 0 1,026,093 $ 649,750 $ 317,316 $ 712 $ 33,329 $ 25,743 $ 0 $ 1,026,850 December 31, 2019 Allowance for loan losses for loans: Individually evaluated for impairment $ 680 $ 0 $ 0 $ 0 $ 0 $ 0 $ 680 Collectively evaluated for impairment 6,490 1,000 38 306 525 107 8,466 $ 7,170 $ 1,000 $ 38 $ 306 $ 525 $ 107 $ 9,146 Ending gross loan balances: Individually evaluated for impairment $ 855 $ 0 $ 0 $ 248 $ 0 $ 0 $ 1,103 Collectively evaluated for impairment 606,147 77,704 1,274 36,399 28,358 0 749,882 $ 607,002 $ 77,704 $ 1,274 $ 36,647 $ 28,358 $ 0 $ 750,985
Change in Allowance for Loan Losses [Table Text Block](in thousands) THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2020 2019 2020 2019 Balance, beginning of period $ 419 $ 480 $ 427 $ 396 Provision (Reversal) to Operations for Off Balance Sheet Commitments (32 ) (47 ) (40 ) 37 Balance, end of period $ 387 $ 433 $ 387 $ 433
Weighted Average [Member]
Notes Tables
Financing Receivable Credit Quality Indicators [Table Text Block]September 30, 2020 December 31, 2019 Weighted Average Risk Grade Weighted Average Risk Grade Commercial real estate: Commercial real estate - construction 3.13 3.00 Commercial real estate - mortgages 3.10 3.02 Land 4.02 3.72 Farmland 3.07 3.04 Commercial and industrial 3.01 3.05 Consumer 1.78 2.29 Consumer residential 3.00 3.02 Agriculture 3.11 3.17 Total gross loans 3.07 3.03

Note 6 - Financial Instrument_2

Note 6 - Financial Instruments and Fair Value Measurements (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]Hierarchy
(in thousands) Carrying Fair Valuation
Amount Value Level
Financial assets:
Cash and cash equivalents 142,800 142,800 1
Restricted equity securities 4,758 4,758 2
Loans, net 1,009,032 1,017,792 3
Interest receivable 5,293 5,293 2
Financial liabilities:
Deposits (1,311,188 ) (1,311,245 ) 3
Interest payable (18 ) (18 ) 2
Off-balance-sheet assets (liabilities):
Commitments and standby letters of credit (1,488 ) 3
Hierarchy
(in thousands) Carrying Fair Valuation
Amount Value Level
Financial assets:
Cash and cash equivalents $ 147,594 $ 147,594 1
Restricted equity securities 4,761 4,761 2
Loans, net 741,047 742,484 3
Interest receivable 3,457 3,457 2
Financial liabilities:
Deposits (1,019,929 ) (1,019,654 ) 3
Interest payable (50 ) (50 ) 2
Off-balance-sheet assets (liabilities):
Commitments and standby letters of credit (1,647 ) 3
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]Fair Value Measurements as of September 30, 2020 Using
(in thousands) September 30, 2020 Quoted Prices Significant Significant
Assets and liabilities measured on a recurring basis:
Available-for-sale securities:
U.S. agencies $ 25,516 $ 0 $ 25,516 $ 0
Collateralized mortgage obligations 1,295 0 1,295 0
Municipalities 132,303 0 132,303 0
SBA pools 5,258 0 5,258 0
Corporate debt 14,020 0 14,020 0
Asset backed securities 48,520 0 48,520 0
Equity Securities:
Mutual fund $ 3,418 $ 3,418 $ 0 $ 0
Assets and liabilities measured on a non-recurring basis:
Impaired loans:
Land $ 77 $ 0 $ 0 $ 77
Other real estate owned 137 0 0 137
Fair Value Measurements at Dec ember 3 1 , 201 9 Using
(in thousands) Dec ember 3 1 , 201 9 Quoted Prices Significant Significant
Assets and liabilities measured on a recurring basis:
Available-for-sale securities:
U.S. agencies $ 31,729 $ 0 $ 31,729 $ 0
Collateralized mortgage obligations 1,614 0 1,614 0
Municipalities 90,571 0 90,571 0
SBA pools 6,395 0 6,395 0
Corporate debt 18,968 0 18,968 0
Asset backed securities 40,811 0 40,811 0
Equity Securities:
Mutual fund $ 3,297 $ 3,297 $ 0 $ 0
Assets and liabilities measured on a non-recurring basis:
Impaired loans:
Land $ 175 $ 0 $ 0 $ 175
Consumer residential 248 0 0 248

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]THREE MONTHS ENDED (In thousands) SEPTEMBER 3 0 , 20 20 201 9 BASIC EARNINGS PER SHARE Net income $ 3,748 $ 3,231 Weighted average shares outstanding 8,126 8,105 Net income per common share $ 0.46 $ 0.40 DILUTED EARNINGS PER SHARE Net income $ 3,748 $ 3,231 Weighted average shares outstanding 8,126 8,105 Effect of dilutive non-vested restricted shares 8 15 Weighted average shares of common stock and common stock equivalents 8,134 8,120 Net income per diluted common share $ 0.46 $ 0.40 NINE MONTHS ENDED (In thousands) SEPTEMBER 30, 2020 2019 BASIC EARNINGS PER SHARE Net income $ 9,038 $ 9,297 Weighted average shares outstanding 8,122 8,100 Net income per common share $ 1.11 $ 1.15 DILUTED EARNINGS PER SHARE Net income $ 9,038 $ 9,297 Weighted average shares outstanding 8,122 8,100 Effect of dilutive non-vested restricted shares 11 13 Weighted average shares of common stock and common stock equivalents 8,133 8,113 Net income per diluted common share $ 1.11 $ 1.15

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)Jul. 03, 2008shares
Conversion of Stock Shares Converted for Each Outstanding Share of Wholly Owned Subsidiary (in shares)1

Note 3 - Securities (Details Te

Note 3 - Securities (Details Textual)3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Dec. 31, 2019USD ($)
Equity Securities, FV-NI $ 3,418,000 $ 3,418,000 $ 3,297,000
Equity Securities, FV-NI, Realized Gain (Loss), Total0 $ 0 0 $ 0
Equity Securities, FV-NI, Unrealized Gain (Loss), Total $ (7,000)18,000 $ 59,000 108,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions4 4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions9 9
Debt Securities, Available-for-sale, Realized Gain $ 0 $ 27,000 $ 1,000 $ 137,000
Number of Debt Securities, Available-for-sale, Sold0 0
Security Owned and Pledged as Collateral, Fair Value, Total $ 154,586,000 $ 154,586,000 $ 123,381,000
US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions2 2 3
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions3 3 3
SBA Pool [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions7 7 5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions2
Asset-backed Securities [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions14 14 11
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions8
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions1 1
Collateralized Mortgage Obligations [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions1 1
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions2

Note 3 - Securities - Amortized

Note 3 - Securities - Amortized Cost and Estimated Fair Values of Debt Securities (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Available-for-sale securities, amortized cost $ 217,311 $ 186,685
Available-for-sale securities, gross unrealized gains10,975 4,575
Available-for-sale securities, gross unrealized losses(1,374)(1,172)
Available-for-sale securities, fair market value226,912 190,088
US Government Agencies Debt Securities [Member]
Available-for-sale securities, amortized cost24,580 31,180
Available-for-sale securities, gross unrealized gains945 566
Available-for-sale securities, gross unrealized losses(9)(17)
Available-for-sale securities, fair market value25,516 31,729
Collateralized Mortgage Obligations [Member]
Available-for-sale securities, amortized cost1,332 1,618
Available-for-sale securities, gross unrealized gains20 5
Available-for-sale securities, gross unrealized losses(57)(9)
Available-for-sale securities, fair market value1,295 1,614
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, amortized cost122,879 86,826
Available-for-sale securities, gross unrealized gains9,425 3,746
Available-for-sale securities, gross unrealized losses(1)(1)
Available-for-sale securities, fair market value132,303 90,571
SBA Pool [Member]
Available-for-sale securities, amortized cost5,283 6,419
Available-for-sale securities, gross unrealized gains5 9
Available-for-sale securities, gross unrealized losses(30)(33)
Available-for-sale securities, fair market value5,258 6,395
Corporate Debt Securities [Member]
Available-for-sale securities, amortized cost14,228 19,253
Available-for-sale securities, gross unrealized gains211 173
Available-for-sale securities, gross unrealized losses(419)(458)
Available-for-sale securities, fair market value14,020 18,968
Asset-backed Securities [Member]
Available-for-sale securities, amortized cost49,009 41,389
Available-for-sale securities, gross unrealized gains369 76
Available-for-sale securities, gross unrealized losses(858)(654)
Available-for-sale securities, fair market value $ 48,520 $ 40,811

Note 3 - Securities - Securitie

Note 3 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Less than 12 months, fair value $ 16,605 $ 21,242
Less than 12 months, unrealized loss(247)(257)
12 months or more, fair value37,683 36,313
12 months or more, unrealized loss(1,127)(915)
Fair value54,288 57,555
Unrealized loss(1,374)(1,172)
US Government Agencies Debt Securities [Member]
Less than 12 months, fair value99 3,934
Less than 12 months, unrealized loss(1)(11)
12 months or more, fair value1,214 1,535
12 months or more, unrealized loss(8)(6)
Fair value1,313 5,469
Unrealized loss(9)(17)
Collateralized Mortgage Obligations [Member]
Less than 12 months, fair value584 0
Less than 12 months, unrealized loss(57)0
12 months or more, fair value0 650
12 months or more, unrealized loss0 (9)
Fair value584 650
Unrealized loss(57)(9)
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months, fair value1 0
Less than 12 months, unrealized loss(1)0
12 months or more, fair value0 411
12 months or more, unrealized loss0 (1)
Fair value1 411
Unrealized loss(1)(1)
SBA Pool [Member]
Less than 12 months, fair value0 1,423
Less than 12 months, unrealized loss0 (7)
12 months or more, fair value4,055 3,545
12 months or more, unrealized loss(30)(26)
Fair value4,055 4,968
Unrealized loss(30)(33)
Corporate Debt Securities [Member]
Less than 12 months, fair value0 2,994
Less than 12 months, unrealized loss0 (6)
12 months or more, fair value8,081 8,859
12 months or more, unrealized loss(419)(452)
Fair value8,081 11,853
Unrealized loss(419)(458)
Asset-backed Securities [Member]
Less than 12 months, fair value15,921 12,891
Less than 12 months, unrealized loss(188)(233)
12 months or more, fair value24,333 21,313
12 months or more, unrealized loss(670)(421)
Fair value40,254 34,204
Unrealized loss $ (858) $ (654)

Note 3 - Securities - Contractu

Note 3 - Securities - Contractual Maturity or Call Date (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Due in one year or less, amortized cost $ 17,985
Due in one year or less, fair value18,136
Due after one year through five years, amortized cost80,469
Due after one year through five years, fair value85,593
Due after five years through ten years, amortized cost52,764
Due after five years through ten years, fair value55,849
Due after ten years, amortized cost66,093
Due after ten years, fair value67,334
Amortized cost217,311 $ 186,685
Fair Value $ 226,912 $ 190,088

Note 4 - Loans (Details Textual

Note 4 - Loans (Details Textual)3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Mar. 31, 2020Dec. 31, 2019USD ($)
Financing Receivable, Paycheck Protection Program Loans Originated $ 261,960,000 $ 261,960,000
Financing Receivable, Number of Paycheck Protection Program Loans Originated1,677 1,677
Financing Receivable, Number of Payment Deferrals7 7 0
Financing Receivable, Deferred Payments $ 25,151,000 $ 25,151,000
Loans and Leases Receivable, Percentage of Outstanding Principal Balance Secured by Owner Occupied Properties36.00%36.00%39.00%
Underwriting Standards, Loan to Value Percentage80.00%80.00%
Underwriting Standards, Housing Percentage36.00%36.00%
Underwriting Standards, Total Debt Ratio42.00%42.00%
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans $ 9,000 $ 14,000 $ 29,000 $ 48,000
Impaired Financing Receivable, Interest Income, Accrual Method, Total $ 0 $ 0 $ 0 $ 0
Financing Receivable, Modifications, Number of Contracts Held1 1 1
Financing Receivable, Troubled Debt Restructuring $ 757,000 $ 757,000 $ 855,000
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend0 0 0
Allowance for Credit Losses, Trouble Debt Restructurings $ 680,000 $ 680,000 680,000
Financing Receivable, Modifications, Number of Contracts1 0 1
Financing Receivable, Troubled Debt Restructuring, Postmodification $ 906,000 $ 906,000
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts0 0
Financing Receivable Modifications, Period Contractually Past Due for Loan to Be Considered in Payment Default (Day)90 days
Loans and Leases Receivable, Minimum Cash Collateral Percent110.00%110.00%
Loans and Leases Receivable, Gross, Total $ 1,026,850,000 $ 1,026,850,000 750,985,000
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged1,026,850,000 $ 1,026,850,000 750,985,000
Substandard [Member]
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category40.00%
Loans and Leases Receivable, Gross, Total3,701,000 $ 3,701,000 3,362,000
Doubtful [Member]
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category25.00%
Unlikely to be Collected Financing Receivable [Member]
Financing Receivable Rating Example, Percentage of Loans Classified in Rating Category35.00%
Loans and Leases Receivable, Gross, Total $ 0 $ 0 0
Minimum [Member]
Financing Receivable, Rating Example Disbursement to Unsecured Creditors by Illusory Company in Liquidation, Percentage40.00%
Maximum [Member]
Financing Receivable, Rating Example Disbursement to Unsecured Creditors by Illusory Company in Liquidation, Percentage65.00%
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans63.00%63.00%
Loans and Leases Receivable, Gross, Total $ 649,750,000 $ 649,750,000 607,002,000
Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans31.00%31.00%
Loans and Leases Receivable, Gross, Total $ 317,316,000 $ 317,316,000 77,704,000
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans and Leases Receivable, Gross, Total1,651,000 1,651,000 2,194,000
Commercial and Industrial [Member]
Financing Receivable, Paycheck Protection Program Loans Originated $ 244,198,000 $ 244,198,000
Residential Real Estate and Other Consumer Loans [Member]
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans3.00%3.00%
Agriculture [Member]
Loans and Leases Receivable, Gross Carrying Amount As Percentage of Total Loans3.00%3.00%
Loans and Leases Receivable, Gross, Total $ 25,743,000 $ 25,743,000 28,358,000
Agriculture [Member] | Substandard [Member]
Loans and Leases Receivable, Gross, Total $ 172,000 $ 172,000 $ 0

Note 4 - Loans - Loans (Details

Note 4 - Loans - Loans (Details) - USD ($) $ in ThousandsSep. 30, 2020Jun. 30, 2020Dec. 31, 2019Sep. 30, 2019Jun. 30, 2019Dec. 31, 2018
Loans $ 1,026,850 $ 750,985
Deferred loan fees and costs, net(6,183)(792)
Allowance for loan losses(11,635) $ (11,443)(9,146) $ (9,005) $ (8,770) $ (8,685)
Net loans1,009,032 741,047
Commercial Real Estate Portfolio Segment [Member]
Loans649,750 607,002
Allowance for loan losses(9,170)(8,943)(7,170)(6,885)(6,675)(6,580)
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans36,737 53,169
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Loans527,827 475,146
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Loans5,493 8,367
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Loans79,693 70,320
Commercial Portfolio Segment [Member]
Loans317,316 77,704
Allowance for loan losses(1,029)(1,072)(1,000)(1,018)(1,095)(1,065)
Consumer Portfolio Segment [Member]
Loans712 1,274
Allowance for loan losses(22)(34)(38)(34)(33)(39)
Residential Portfolio Segment [Member]
Loans33,329 36,647
Allowance for loan losses(337)(321)(306)(318)(292)(304)
Agriculture [Member]
Loans25,743 28,358
Allowance for loan losses $ (510) $ (541) $ (525) $ (705) $ (672) $ (693)

Note 4 - Loans - Non Accrual Lo

Note 4 - Loans - Non Accrual Loans (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Non-accrual loans $ 757 $ 1,103
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Non-accrual loans0 0
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Non-accrual loans0 0
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Non-accrual loans757 855
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Non-accrual loans0 0
Commercial Portfolio Segment [Member]
Non-accrual loans0 0
Consumer Portfolio Segment [Member]
Non-accrual loans0 0
Residential Portfolio Segment [Member]
Non-accrual loans0 248
Agriculture [Member]
Non-accrual loans $ 0 $ 0

Note 4 - Loans - Aging of Past

Note 4 - Loans - Aging of Past Due Loans (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Past due $ 0 $ 250
Current1,026,850 750,735
Loans1,026,850 750,985
Greater than 90 days past due and still accruing0 0
Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 2
Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 248
Commercial Real Estate Portfolio Segment [Member]
Loans649,750 607,002
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Past due0 0
Current36,737 53,169
Loans36,737 53,169
Greater than 90 days past due and still accruing0 0
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Past due0 0
Current527,827 475,146
Loans527,827 475,146
Greater than 90 days past due and still accruing0 0
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Past due0 0
Current5,493 8,367
Loans5,493 8,367
Greater than 90 days past due and still accruing0 0
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Past due0 111
Current79,693 70,209
Loans79,693 70,320
Greater than 90 days past due and still accruing0 0
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 111
Commercial Portfolio Segment [Member]
Past due0 0
Current317,316 77,704
Loans317,316 77,704
Greater than 90 days past due and still accruing0 0
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 0
Consumer Portfolio Segment [Member]
Past due0 2
Current712 1,272
Loans712 1,274
Greater than 90 days past due and still accruing0 0
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 2
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 0
Residential Portfolio Segment [Member]
Past due0 137
Current33,329 36,510
Loans33,329 36,647
Greater than 90 days past due and still accruing0 0
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due0 137
Agriculture [Member]
Past due0 0
Current25,743 28,358
Loans25,743 28,358
Greater than 90 days past due and still accruing0 0
Agriculture [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Past due0 0
Agriculture [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Past due0 0
Agriculture [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Past due $ 0 $ 0

Note 4 - Loans - Impaired Loans

Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Unpaid contractual principal $ 805 $ 805 $ 1,185
Recorded investment with no allowance0 0 248
Recorded investment with allowance757 757 855
Total recorded investment757 757 1,103
Related allowance680 680 680
Average recorded investment791 $ 1,016 919 $ 952 1,005
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Unpaid contractual principal0 0 0
Recorded investment with no allowance0 0 0
Recorded investment with allowance0 0 0
Total recorded investment0 0 0
Related allowance0 0 0
Average recorded investment0 0 0 0 0
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Unpaid contractual principal0 0 0
Recorded investment with no allowance0 0 0
Recorded investment with allowance0 0 0
Total recorded investment0 0 0
Related allowance0 0 0
Average recorded investment0 0 0 0 0
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Unpaid contractual principal805 805 873
Recorded investment with no allowance0 0 0
Recorded investment with allowance757 757 855
Total recorded investment757 757 855
Related allowance680 680 680
Average recorded investment769 890 802 901 892
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Unpaid contractual principal0 0 0
Recorded investment with no allowance0 0 0
Recorded investment with allowance0 0 0
Total recorded investment0 0 0
Related allowance0 0 0
Average recorded investment0 0 0 0 0
Commercial Portfolio Segment [Member]
Unpaid contractual principal0 0 0
Recorded investment with no allowance0 0 0
Recorded investment with allowance0 0 0
Total recorded investment0 0 0
Related allowance0 0 0
Average recorded investment0 0 0 0 0
Consumer Portfolio Segment [Member]
Unpaid contractual principal0 0 0
Recorded investment with no allowance0 0 0
Recorded investment with allowance0 0 0
Total recorded investment0 0 0
Related allowance0 0 0
Average recorded investment0 0 0 0 0
Residential Portfolio Segment [Member]
Unpaid contractual principal0 0 312
Recorded investment with no allowance0 0 248
Recorded investment with allowance0 0 0
Total recorded investment0 0 248
Related allowance0 0 0
Average recorded investment22 126 117 51 113
Agriculture [Member]
Unpaid contractual principal0 0 0
Recorded investment with no allowance0 0 0
Recorded investment with allowance0 0 0
Total recorded investment0 0 0
Related allowance0 0 0
Average recorded investment $ 0 $ 0 $ 0 $ 0 $ 0

Note 4 - Loans - Weighted Avera

Note 4 - Loans - Weighted Average Risk Grades of Loan Portfolio (Details)9 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2019
Weighted average risk grade of loans3.073.03
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Weighted average risk grade of loans3.133
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Weighted average risk grade of loans3.103.02
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Weighted average risk grade of loans4.023.72
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Weighted average risk grade of loans3.073.04
Commercial Portfolio Segment [Member]
Weighted average risk grade of loans3.013.05
Consumer Portfolio Segment [Member]
Weighted average risk grade of loans1.782.29
Residential Portfolio Segment [Member]
Weighted average risk grade of loans3 3.02
Agriculture [Member]
Weighted average risk grade of loans3.113.17

Note 4 - Loans - Loans by Credi

Note 4 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Loans $ 1,026,850 $ 750,985
Commercial Real Estate Portfolio Segment [Member]
Loans649,750 607,002
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans36,737 53,169
Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Loans527,827 475,146
Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Loans5,493 8,367
Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Loans79,693 70,320
Commercial Portfolio Segment [Member]
Loans317,316 77,704
Consumer Portfolio Segment [Member]
Loans712 1,274
Residential Portfolio Segment [Member]
Loans33,329 36,647
Agriculture [Member]
Loans25,743 28,358
Pass [Member]
Loans1,012,535 740,468
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans36,737 53,169
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Loans518,731 471,594
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Loans4,736 7,512
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Loans78,268 69,002
Pass [Member] | Commercial Portfolio Segment [Member]
Loans315,665 74,960
Pass [Member] | Consumer Portfolio Segment [Member]
Loans689 1,249
Pass [Member] | Residential Portfolio Segment [Member]
Loans33,291 36,470
Pass [Member] | Agriculture [Member]
Loans24,418 26,512
Special Mention [Member]
Loans10,614 7,155
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans0 0
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Loans9,096 3,552
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Loans0 0
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Loans365 1,207
Special Mention [Member] | Commercial Portfolio Segment [Member]
Loans0 550
Special Mention [Member] | Consumer Portfolio Segment [Member]
Loans0 0
Special Mention [Member] | Residential Portfolio Segment [Member]
Loans0 0
Special Mention [Member] | Agriculture [Member]
Loans1,153 1,846
Substandard [Member]
Loans3,701 3,362
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member]
Loans0 0
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Mortgage Loans [Member]
Loans0 0
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Loans [Member]
Loans757 855
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loans [Member]
Loans1,060 111
Substandard [Member] | Commercial Portfolio Segment [Member]
Loans1,651 2,194
Substandard [Member] | Consumer Portfolio Segment [Member]
Loans23 25
Substandard [Member] | Residential Portfolio Segment [Member]
Loans38 177
Substandard [Member] | Agriculture [Member]
Loans $ 172 $ 0

Note 4 - Loans - Allowance for

Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Dec. 31, 2019
Beginning balance $ 11,443 $ 8,770 $ 9,146 $ 8,685
Charge-offs(5)(6)(24)(20)
Recoveries4 1 10 5
Provision for loan losses193 240 2,503 335
Ending balance11,635 9,005 11,635 9,005
Individually evaluated for impairment $ 680 $ 680
Collectively evaluated for impairment10,955 8,466
Loans and Leases Receivable, Allowance, Ending Balance11,443 9,005 9,146 8,685 11,635 9,146
Individually evaluated for impairment757 1,103
Collectively evaluated for impairment1,026,093 749,882
Loans and Leases Receivable, Gross, Total1,026,850 750,985
Commercial Real Estate Portfolio Segment [Member]
Beginning balance8,943 6,675 7,170 6,580
Charge-offs0 0 0 0
Recoveries0 0 0 0
Provision for loan losses227 210 2,000 305
Ending balance9,170 6,885 9,170 6,885
Individually evaluated for impairment680 680
Collectively evaluated for impairment8,490 6,490
Loans and Leases Receivable, Allowance, Ending Balance9,170 6,885 7,170 6,580 9,170 7,170
Individually evaluated for impairment757 855
Collectively evaluated for impairment648,993 606,147
Loans and Leases Receivable, Gross, Total649,750 607,002
Commercial Portfolio Segment [Member]
Beginning balance1,072 1,095 1,000 1,065
Charge-offs0 0 0 0
Recoveries0 0 0 0
Provision for loan losses(43)(77)29 (47)
Ending balance1,029 1,018 1,029 1,018
Individually evaluated for impairment0 0
Collectively evaluated for impairment1,029 1,000
Loans and Leases Receivable, Allowance, Ending Balance1,029 1,018 1,000 1,065 1,029 1,000
Individually evaluated for impairment0 0
Collectively evaluated for impairment317,316 77,704
Loans and Leases Receivable, Gross, Total317,316 77,704
Consumer Portfolio Segment [Member]
Beginning balance34 33 38 39
Charge-offs(5)(6)(22)(20)
Recoveries4 1 9 4
Provision for loan losses(11)6 (3)11
Ending balance22 34 22 34
Individually evaluated for impairment0 0
Collectively evaluated for impairment22 38
Loans and Leases Receivable, Allowance, Ending Balance22 34 38 39 22 38
Individually evaluated for impairment0 0
Collectively evaluated for impairment712 1,274
Loans and Leases Receivable, Gross, Total712 1,274
Residential Portfolio Segment [Member]
Beginning balance321 292 306 304
Charge-offs0 0 (2)0
Recoveries0 0 1 1
Provision for loan losses16 26 32 13
Ending balance337 318 337 318
Individually evaluated for impairment0 0
Collectively evaluated for impairment337 306
Loans and Leases Receivable, Allowance, Ending Balance337 318 306 304 337 306
Individually evaluated for impairment0 248
Collectively evaluated for impairment33,329 36,399
Loans and Leases Receivable, Gross, Total33,329 36,647
Agriculture [Member]
Beginning balance541 672 525 693
Charge-offs0 0 0 0
Recoveries0 0 0 0
Provision for loan losses(31)33 (15)12
Ending balance510 705 510 705
Individually evaluated for impairment0 0
Collectively evaluated for impairment510 525
Loans and Leases Receivable, Allowance, Ending Balance510 705 525 693 510 525
Individually evaluated for impairment0 0
Collectively evaluated for impairment25,743 28,358
Loans and Leases Receivable, Gross, Total25,743 28,358
Unallocated Financing Receivables [Member]
Beginning balance532 3 107 4
Charge-offs0 0 0 0
Recoveries0 0 0 0
Provision for loan losses35 42 460 41
Ending balance567 45 567 45
Individually evaluated for impairment0 0
Collectively evaluated for impairment567 107
Loans and Leases Receivable, Allowance, Ending Balance $ 567 $ 45 $ 107 $ 4 567 107
Individually evaluated for impairment0 0
Collectively evaluated for impairment0 0
Loans and Leases Receivable, Gross, Total $ 0 $ 0

Note 4 - Loans - Changes in the

Note 4 - Loans - Changes in the Allowance, Off-balance-sheet Commitments (Details) - SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Balance, beginning of period $ 419 $ 480 $ 427 $ 396
Provision (Reversal) to Operations for Off Balance Sheet Commitments(32)(47)(40)37
Balance, end of period $ 387 $ 433 $ 387 $ 433

Note 5 - Leases (Details Textua

Note 5 - Leases (Details Textual) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Jan. 01, 2020
Operating Lease, Right-of-Use Asset $ 4,850,000 $ 4,850,000
Operating Lease, Weighted Average Remaining Lease Term (Year)7 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent3.12%
Operating Lease, Expense $ 294,000 $ 275,000 $ 838,000 $ 820,000
Interest Payable and Other Liabilities [Member]
Operating Lease, Liability, Total $ 5,246,000
Interest Receivable and Other Assets [Member]
Operating Lease, Right-of-Use Asset $ 4,817,000

Note 6 - Financial Instrument_3

Note 6 - Financial Instruments and Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member]
Cash and cash equivalents $ 142,800 $ 147,594
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member]
Cash and cash equivalents142,800 147,594
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member]
Restricted equity securities4,758 4,761
Interest receivable5,293 3,457
Interest payable(18)(50)
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Restricted equity securities4,758 4,761
Interest receivable5,293 3,457
Interest payable(18)(50)
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member]
Loans, net1,009,032 741,047
Deposits(1,311,188)(1,019,929)
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member]
Loans, net1,017,792 742,484
Deposits(1,311,245)(1,019,654)
Commitments and standby letters of credit $ (1,488) $ (1,647)

Note 6 - Financial Instrument_4

Note 6 - Financial Instruments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring and Non Recurring Basis (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Available-for-sale securities, fair market value $ 226,912,000 $ 190,088,000
Equity Securities3,418,000 3,297,000
Other real estate owned137,000
Fair Value, Inputs, Level 1 [Member]
Other real estate owned0
Fair Value, Inputs, Level 2 [Member]
Other real estate owned0
Fair Value, Inputs, Level 3 [Member]
Other real estate owned137,000
Fair Value, Nonrecurring [Member] | Consumer Portfolio Segment [Member]
Impaired loans248,000
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Consumer Portfolio Segment [Member]
Impaired loans0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Consumer Portfolio Segment [Member]
Impaired loans0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Consumer Portfolio Segment [Member]
Impaired loans248,000
US Government Agencies Debt Securities [Member]
Available-for-sale securities, fair market value25,516,000 31,729,000
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities, fair market value25,516,000 31,729,000
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair market value0 0
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair market value25,516,000 31,729,000
US Government Agencies Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities, fair market value0 0
Collateralized Mortgage Obligations [Member]
Available-for-sale securities, fair market value1,295,000 1,614,000
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member]
Available-for-sale securities, fair market value1,295,000 1,614,000
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair market value0 0
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair market value1,295,000 1,614,000
Collateralized Mortgage Obligations [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities, fair market value0 0
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, fair market value132,303,000 90,571,000
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities, fair market value132,303,000 90,571,000
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair market value0 0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair market value132,303,000 90,571,000
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities, fair market value0 0
SBA Pool [Member]
Available-for-sale securities, fair market value5,258,000 6,395,000
SBA Pool [Member] | Fair Value, Recurring [Member]
Available-for-sale securities, fair market value5,258,000 6,395,000
SBA Pool [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair market value0 0
SBA Pool [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair market value5,258,000 6,395,000
SBA Pool [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities, fair market value0 0
Corporate Debt Securities [Member]
Available-for-sale securities, fair market value14,020,000 18,968,000
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities, fair market value14,020,000 18,968,000
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair market value0 0
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair market value14,020,000 18,968,000
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities, fair market value0 0
Asset-backed Securities [Member]
Available-for-sale securities, fair market value48,520,000 40,811,000
Asset-backed Securities [Member] | Fair Value, Recurring [Member]
Available-for-sale securities, fair market value48,520,000 40,811,000
Asset-backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities, fair market value0 0
Asset-backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities, fair market value48,520,000 40,811,000
Asset-backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities, fair market value0 0
Mutual Fund [Member] | Fair Value, Recurring [Member]
Equity Securities3,418,000 3,297,000
Mutual Fund [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Equity Securities3,418,000 3,297,000
Mutual Fund [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Equity Securities0 0
Mutual Fund [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Equity Securities0 0
Land Loans [Member] | Fair Value, Nonrecurring [Member]
Impaired loans77,000 175,000
Land Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Impaired loans0 0
Land Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Impaired loans0 0
Land Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Impaired loans $ 77,000 $ 175,000

Note 7 - Earnings Per Share (De

Note 7 - Earnings Per Share (Details Textual)9 Months Ended
Sep. 30, 2020
Number Of Forms Of Outstanding Common Stock2

Note 7 - Earnings Per Share - E

Note 7 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Net income $ 3,748 $ 3,231 $ 9,038 $ 9,297
Weighted average shares outstanding (in shares)8,126 8,105 8,122 8,100
Net income per common share (in dollars per share) $ 0.46 $ 0.40 $ 1.11 $ 1.15
Effect of dilutive non-vested restricted shares (in shares)8 15 11 13
Weighted average shares of common stock and common stock equivalents (in shares)8,134 8,120 8,133 8,113
Net income per diluted common share (in dollars per share) $ 0.46 $ 0.40 $ 1.11 $ 1.15

Note 8 - Risks and Uncertaint_2

Note 8 - Risks and Uncertainties (Details Textual)Sep. 30, 2020
Administrative Staff [Member]
Effect of COVID-19, Percent of Staff Working Remotely10.00%