Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 29, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001478454 | |
Entity Registrant Name | Eagle Bancorp Montana, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-34682 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-1449820 | |
Entity Address, Address Line One | 1400 Prospect Avenue | |
Entity Address, City or Town | Helena | |
Entity Address, State or Province | MT | |
Entity Address, Postal Zip Code | 59601 | |
City Area Code | 406 | |
Local Phone Number | 442-3080 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock par value $0.01 per share | |
Trading Symbol | EBMT | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 6,776,703 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS: | ||
Cash and due from banks | $ 16,320 | $ 14,455 |
Interest-bearing deposits in banks | 71,609 | 47,733 |
Federal funds sold | 7,011 | 7,614 |
Total cash and cash equivalents | 94,940 | 69,802 |
Securities available-for-sale | 240,033 | 162,946 |
Federal Home Loan Bank ("FHLB") stock | 1,702 | 2,060 |
Federal Reserve Bank ("FRB") stock | 2,974 | 2,974 |
Mortgage loans held-for-sale, at fair value | 42,059 | 54,615 |
Loans receivable, net of allowance for loan losses of $12,200 at September 30, 2021 and $11,600 at December 31, 2020 | 872,705 | 829,503 |
Accrued interest and dividends receivable | 6,218 | 5,765 |
Mortgage servicing rights, net | 12,941 | 10,105 |
Premises and equipment, net | 66,537 | 58,762 |
Cash surrender value of life insurance, net | 36,265 | 27,753 |
Goodwill | 20,798 | 20,798 |
Core deposit intangible, net | 1,919 | 2,343 |
Other assets | 7,832 | 10,208 |
Total assets | 1,406,923 | 1,257,634 |
LIABILITIES: | ||
Noninterest-bearing | 367,127 | 318,389 |
Interest-bearing | 827,422 | 714,694 |
Total deposits | 1,194,549 | 1,033,083 |
Accrued expenses and other liabilities | 19,745 | 24,295 |
Deferred tax liability, net | 1,256 | 457 |
FHLB advances and other borrowings | 5,000 | 17,070 |
Other long-term debt: | ||
Principal amount | 30,155 | 30,155 |
Unamortized debt issuance costs | (305) | (364) |
Total other long-term debt, net | 29,850 | 29,791 |
Total liabilities | 1,250,400 | 1,104,696 |
SHAREHOLDERS' EQUITY: | ||
Preferred stock (par value $0.01 per share; 1,000,000 shares authorized; no shares issued or outstanding) | 0 | 0 |
Common stock (par value $0.01 per share; 20,000,000 shares authorized; 7,110,833 shares issued; 6,776,703 and 6,775,447 shares outstanding at September 30, 2021, and December 31, 2020, respectively) | 71 | 71 |
Additional paid-in capital | 80,957 | 77,602 |
Unallocated common stock held by Employee Stock Ownership Plan ("ESOP") | (5,883) | (145) |
Treasury stock, at cost (334,130 and 335,386 shares at September 30, 2021 and December 31, 2020, respectively) | (7,631) | (4,423) |
Retained earnings | 84,505 | 73,982 |
Accumulated other comprehensive income, net of tax | 4,504 | 5,851 |
Total shareholders' equity | 156,523 | 152,938 |
Total liabilities and shareholders' equity | $ 1,406,923 | $ 1,257,634 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Allowance for loan losses | $ 12.2 | $ 11.6 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, share authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 7,110,833 | 7,110,833 |
Common stock, shares outstanding (in shares) | 6,776,703 | 6,775,447 |
Treasury stock, shares (in shares) | 334,130 | 335,386 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
INTEREST AND DIVIDEND INCOME: | ||||
Interest and fees on loans | $ 11,619 | $ 11,340 | $ 33,660 | $ 33,832 |
Securities available-for-sale | 1,094 | 874 | 2,989 | 2,853 |
FHLB and FRB dividends | 62 | 95 | 194 | 284 |
Other interest income | 32 | 30 | 90 | 134 |
Total interest and dividend income | 12,807 | 12,339 | 36,933 | 37,103 |
INTEREST EXPENSE: | ||||
Deposits | 350 | 779 | 1,118 | 3,063 |
FHLB advances and other borrowings | 37 | 261 | 152 | 1,066 |
Other long-term debt | 389 | 521 | 1,168 | 1,296 |
Total interest expense | 776 | 1,561 | 2,438 | 5,425 |
NET INTEREST INCOME | 12,031 | 10,778 | 34,495 | 31,678 |
Loan loss provision | 255 | 854 | 576 | 2,751 |
NET INTEREST INCOME AFTER LOAN LOSS PROVISION | 11,776 | 9,924 | 33,919 | 28,927 |
NONINTEREST INCOME: | ||||
Appreciation in cash surrender value of life insurance | 181 | 160 | 512 | 480 |
Net gain on sale of available-for-sale securities | 11 | 0 | 11 | 1,068 |
Other noninterest income | 608 | 817 | 1,798 | 1,892 |
Total noninterest income | 13,353 | 14,971 | 38,054 | 36,973 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 12,262 | 11,325 | 37,093 | 28,274 |
Occupancy and equipment expense | 1,665 | 1,280 | 4,746 | 3,677 |
Data processing | 1,171 | 1,168 | 3,666 | 3,507 |
Advertising | 326 | 208 | 850 | 624 |
Amortization of core deposit intangible | 144 | 165 | 431 | 495 |
Loan costs | 654 | 566 | 2,126 | 1,211 |
Federal Deposit Insurance Corporation ("FDIC") insurance premiums | 81 | 75 | 243 | 147 |
Postage | 93 | 76 | 302 | 260 |
Professional and examination fees | 790 | 389 | 1,400 | 1,081 |
Acquisition costs | 35 | 0 | 35 | 157 |
Other noninterest expense | 1,579 | 1,093 | 4,158 | 4,893 |
Total noninterest expense | 18,800 | 16,345 | 55,050 | 44,326 |
INCOME BEFORE PROVISION FOR INCOME TAXES | 6,329 | 8,550 | 16,923 | 21,574 |
Provision for income taxes | 1,583 | 2,170 | 4,231 | 5,532 |
NET INCOME | $ 4,746 | $ 6,380 | $ 12,692 | $ 16,042 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.73 | $ 0.94 | $ 1.90 | $ 2.36 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.73 | $ 0.94 | $ 1.89 | $ 2.35 |
Deposit Account [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | $ 318 | $ 282 | $ 884 | $ 814 |
Bank Servicing [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | 11,665 | 13,305 | 33,360 | 31,596 |
Debit Card [Member] | ||||
NONINTEREST INCOME: | ||||
Noninterest income revenue | $ 570 | $ 407 | $ 1,489 | $ 1,123 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 4,746 | $ 6,380 | $ 12,692 | $ 16,042 |
OTHER ITEMS OF COMPREHENSIVE (LOSS) INCOME BEFORE TAX: | ||||
Change in fair value of securities available-for-sale | (578) | 1,263 | (1,818) | 6,074 |
Reclassification for net realized gains on investment securities available-for-sale | (11) | 0 | (11) | (1,068) |
Total other comprehensive (loss) income | (589) | 1,263 | (1,829) | 5,006 |
Income tax benefit (provision) related to securities available-for-sale | 155 | (332) | 482 | (1,318) |
COMPREHENSIVE INCOME | $ 4,312 | $ 7,311 | $ 11,345 | $ 19,730 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Dutch Auction Tender Offer [Member]Preferred Stock [Member] | Dutch Auction Tender Offer [Member]Common Stock [Member] | Dutch Auction Tender Offer [Member]Additional Paid-in Capital [Member] | Dutch Auction Tender Offer [Member]Unallocated ESOP Shares [Member] | Dutch Auction Tender Offer [Member]Treasury Stock [Member] | Dutch Auction Tender Offer [Member]Retained Earnings [Member] | Dutch Auction Tender Offer [Member]AOCI Attributable to Parent [Member] | Dutch Auction Tender Offer [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Unallocated ESOP Shares [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2019 | $ 0 | $ 67 | $ 68,826 | $ (311) | $ (3,643) | $ 55,391 | $ 1,329 | $ 121,659 | ||||||||
Net income | 0 | 0 | 0 | 0 | 0 | 16,042 | 0 | 16,042 | ||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | 3,688 | 3,688 | ||||||||
Dividends paid | 0 | 0 | 0 | 0 | 0 | (1,955) | 0 | (1,955) | ||||||||
Stock compensation expense | 0 | 0 | 226 | 0 | 0 | 0 | 0 | 226 | ||||||||
ESOP shares allocated | 0 | 0 | 97 | 126 | 0 | 0 | 0 | 223 | ||||||||
Treasury stock purchased | 0 | 0 | 0 | 0 | (987) | 0 | 0 | (987) | ||||||||
Stock issued in connection with Western Holding Company of Wolf Point acquisition | 0 | 4 | 8,463 | 0 | 0 | 0 | 0 | 8,467 | ||||||||
Balance at Sep. 30, 2020 | 0 | 71 | 77,612 | (185) | (4,630) | 69,478 | 5,017 | 147,363 | ||||||||
Balance at Jun. 30, 2020 | 0 | 71 | 77,506 | (227) | (3,664) | 63,757 | 4,086 | 141,529 | ||||||||
Net income | 0 | 0 | 0 | 0 | 0 | 6,380 | 0 | 6,380 | ||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | 931 | 931 | ||||||||
Dividends paid | 0 | 0 | 0 | 0 | 0 | (659) | 0 | (659) | ||||||||
Stock compensation expense | 0 | 0 | 78 | 0 | 0 | 0 | 0 | 78 | ||||||||
ESOP shares allocated | 0 | 0 | 28 | 42 | 0 | 0 | 0 | 70 | ||||||||
Treasury stock purchased | 0 | 0 | 0 | 0 | (966) | 0 | 0 | (966) | ||||||||
Balance at Sep. 30, 2020 | 0 | 71 | 77,612 | (185) | (4,630) | 69,478 | 5,017 | 147,363 | ||||||||
Balance at Dec. 31, 2020 | 0 | 71 | 77,602 | (145) | (4,423) | 73,982 | 5,851 | 152,938 | ||||||||
Net income | 0 | 0 | 0 | 0 | 0 | 12,692 | 0 | 12,692 | ||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | (1,347) | (1,347) | ||||||||
Dividends paid | 0 | 0 | 0 | 0 | 0 | (2,169) | 0 | (2,169) | ||||||||
Stock compensation expense | 0 | 0 | 270 | 0 | 0 | 0 | 0 | 270 | ||||||||
ESOP shares allocated | 0 | 0 | 156 | 262 | 0 | 0 | 0 | 418 | ||||||||
Treasury stock purchased | $ 0 | $ 0 | $ 0 | $ 0 | $ (6,279) | $ 0 | $ 0 | $ (6,279) | ||||||||
Sale of shares to ESOP | 0 | 0 | 2,929 | (6,000) | 3,071 | 0 | 0 | 0 | ||||||||
Balance at Sep. 30, 2021 | 0 | 71 | 80,957 | (5,883) | (7,631) | 84,505 | 4,504 | 156,523 | ||||||||
Balance at Jun. 30, 2021 | 0 | 71 | 80,820 | (6,061) | (7,631) | 80,607 | 4,938 | 152,744 | ||||||||
Net income | 0 | 0 | 0 | 0 | 0 | 4,746 | 0 | 4,746 | ||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | (434) | (434) | ||||||||
Dividends paid | 0 | 0 | 0 | 0 | 0 | (848) | 0 | (848) | ||||||||
Stock compensation expense | 0 | 0 | 90 | 0 | 0 | 0 | 0 | 90 | ||||||||
ESOP shares allocated | 0 | 0 | 47 | 178 | 0 | 0 | 0 | 225 | ||||||||
Balance at Sep. 30, 2021 | $ 0 | $ 71 | $ 80,957 | $ (5,883) | $ (7,631) | $ 84,505 | $ 4,504 | $ 156,523 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Dutch Auction Tender Offer [Member] | ||||
Treasury stock purchased, shares (in shares) | 250,000 | |||
Treasury stock, average cost per share (in dollars per share) | $ 25.12 | |||
Dividends paid, per share (in dollars per share) | $ 0.1250 | $ 0.0975 | $ 0.3200 | $ 0.2875 |
ESOP shares allocated or committed to be released for allocation, shares (in shares) | 9,831 | 4,154 | 18,139 | 12,462 |
Treasury stock purchased, shares (in shares) | 61,495 | 62,776 | ||
Treasury stock, average cost per share (in dollars per share) | $ 15.70 | $ 15.73 | ||
ESOP shares issued (in shares) | 251,256 | |||
ESOP average price per share (in dollars per share) | $ 23.88 |
Condensed Consolidated Statem_7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 12,692,000 | $ 16,042,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Loan loss provision | 576,000 | 2,751,000 |
(Recovery) impairment of servicing rights | (702,000) | 878,000 |
Depreciation | 2,137,000 | 1,813,000 |
Net amortization of investment securities premiums and discounts | 874,000 | 749,000 |
Amortization of mortgage servicing rights | 2,881,000 | 2,476,000 |
Amortization of right-of-use assets | 457,000 | 347,000 |
Amortization of core deposit intangible | 431,000 | 495,000 |
Compensation expense related to restricted stock awards | 270,000 | 226,000 |
ESOP compensation expense for allocated shares | 418,000 | 223,000 |
Deferred income tax provision | 1,281,000 | 22,000 |
Net gain on sale of loans | (36,261,000) | (24,432,000) |
Originations of loans held-for-sale | (814,854,000) | (636,767,000) |
Proceeds from sales of loans held-for-sale | 863,671,000 | 645,327,000 |
Net gain on sale of available-for-sale securities | (11,000) | (1,068,000) |
Net loss on sale of real estate owned and other repossessed assets | 0 | 9,000 |
Net gain on sale/disposal of premises and equipment | (70,000) | (4,000) |
Net appreciation in cash surrender value of life insurance | (512,000) | (480,000) |
Net change in: | ||
Accrued interest and dividends receivable | (453,000) | (1,030,000) |
Other assets | 1,707,000 | (7,807,000) |
Accrued expenses and other liabilities | (1,710,000) | 3,936,000 |
Net cash provided by operating activities | 32,822,000 | 3,706,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sales | 3,910,000 | 18,149,000 |
Maturities, principal payments and calls | 8,906,000 | 32,553,000 |
Purchases | (95,762,000) | (40,145,000) |
FHLB stock redeemed | 358,000 | 2,081,000 |
FRB stock purchased | 0 | (373,000) |
Net cash received from acquisitions | 0 | 5,044,000 |
Loan origination and principal collection, net | (48,901,000) | (30,040,000) |
Purchases of bank owned life insurance | (8,000,000) | (845,000) |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | 16,000 | 28,000 |
Proceeds from sale of premises and equipment | 1,379,000 | 13,000 |
Purchases of premises and equipment, net | (10,538,000) | (15,693,000) |
Net cash used in investing activities | (148,632,000) | (29,228,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposits | 161,466,000 | 102,765,000 |
Net short-term advances from FRB Payroll Protection Program Loan Funding facility | 0 | 23,786,000 |
Net short-term payments to FHLB and other borrowings | 0 | (27,000,000) |
Long-term advances from FHLB and other borrowings | 0 | 10,000,000 |
Payments on long-term FHLB and other borrowings | (12,070,000) | (37,859,000) |
Proceeds from issuance of subordinated debentures | 0 | 15,000,000 |
Repayment of subordinated debentures | 0 | (10,000,000) |
Payments for debt issuance costs | 0 | (335,000) |
Purchase of treasury stock | (6,279,000) | (987,000) |
Dividends paid | (2,169,000) | (1,955,000) |
Net cash provided by financing activities | 140,948,000 | 73,415,000 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 25,138,000 | 47,893,000 |
CASH AND CASH EQUIVALENTS, beginning of period | 69,802,000 | 24,918,000 |
CASH AND CASH EQUIVALENTS, end of period | 94,940,000 | 72,811,000 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 3,052,000 | 5,652,000 |
Cash paid during the period for income taxes | 3,940,000 | 5,200,000 |
NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
(Decrease) increase in fair value of securities available-for-sale | (1,829,000) | 5,006,000 |
Mortgage servicing rights recognized | 5,015,000 | 4,133,000 |
Right-of-use assets obtained in exchange for lease liabilities | 1,140,000 | 104,000 |
Loans transferred to real estate and other assets acquired in foreclosure | 108,000 | 37,000 |
Stock issued in connection with acquisitions | 0 | 8,467,000 |
Sale of shares from Eagle to ESOP in exchange for loan | $ 6,000,000 | $ 0 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Eagle Bancorp Montana, Inc. (“Eagle” or the “Company”), is a Delaware corporation that holds 100% of the capital stock of Opportunity Bank of Montana (“OBMT” or the “Bank”), formerly American Federal Savings Bank (“AFSB”). The Bank was founded in 1922 1975, October 2014 In September 2017, January 31, 2018, two In August 2018, January 1, 2019, four In August 2019, January 1, 2020. one The Bank currently h as 23 Recent Events During 2021, 10 three September 30, 2021, two September 30, 2021. The Company completed a modified "Dutch auction" tender offer (the "Tender Offer") in June 2021. The Company sold 251,256 shares of common stock to the Employee Stock Ownership Plan ("ESOP") at a price of $23.88 per share in June 2021. ten ten Basis of Financial Statement Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10 10 X 10 December 31, 2020 March 10, 2021. The results of operations for the nine September 30, 2021 not December 31, 2021 Principles of Consolidation The condensed consolidated financial statements include Eagle, th e Bank, OHF, Eagle Bancorp Statutory Trust I (the “Trust”) and WFS. Reclassifications Certain prior period amounts were reclassified to conform to the presentation for 2021 no Subsequent Events The Company has evaluated events and transactions subsequent to September 30, 2021 On October 1, 2021, fourth 2021. |
Note 2 - Mergers and Acquisitio
Note 2 - Mergers and Acquisitions | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2. Effective January 1, 2020, This transaction was accounted for under the acquisition method of accounting. All of the assets acquired and liabilities assumed were recognized at their acquisition-date fair value, while transaction costs and restructuring costs associated with the business combinations were expensed as incurred. Determining the fair value of assets and liabilities is a complicated process involving significant judgement regarding methods and assumptions used to calculate estimated fair values. The excess of the acquisition consideration over the fair value of assets acquired and liabilities assumed, if any, is allocated to goodwill. The goodwill recorded is not The following table summarizes the fair values of the assets acquired and liabilities assumed, consideration paid and the resulting goodwill. WHC January 1, 2020 (In Thousands) Assets acquired: Cash and cash equivalents $ 11,544 Securities available-for-sale 43,710 Loans receivable 43,424 Premises and equipment 740 Cash surrender value of life insurance 2,131 Core deposit intangible 208 Other assets 1,874 Total assets acquired $ 103,631 Liabilities assumed: Deposits $ 86,572 Accrued expenses and other liabilities 4,554 Other borrowings 2,500 Total liabilities assumed $ 93,626 Net assets acquired $ 10,005 Consideration paid: Cash $ 6,500 Common stock issued ( 395,850 8,467 Total consideration paid $ 14,967 Goodwill resulting from acquisition $ 4,962 Goodwill recorded for the WHC acquisition during the three March 31, 2020 WHC investments were written up $425,000 to fair value on the date of acquisition based on market prices obtained from an independent third For acquisitions, the fair value analysis of the loan portfolios resulted in a valuation adjustment for each loan based on an amortization schedule of expected cash flow. Individual amortization schedules were used for each loan over a certain amount and those with specifically identified loss exposure. The remainder of the loans were grouped by type and risk rating into loan pools (based on loan type, fixed or variable interest rate, revolving or term payments and risk rating). Yield inputs for the amortization schedules included contractual interest rates, estimated prepayment speeds, liquidity adjustments and market yields. Credit inputs for the amortization schedules included probability of payment default, loss given default rates and individually identified loss exposure. The total accretable discount on WHC acquired loans was $1,166,000 as of January 1, 2020. December 31, 2020 three nine September 30, 2021 September 30, 2021 January 1, 2020. Fair value adjustments of $590,000 were recorded for WHC related to premises and equipment. The Company used independent third Core deposit intangible assets of $208,000 were recorded for WHC and are being amortized using an accelerated method over the estimated useful lives of the related deposits of 10 years from date of acquisition. For acquisitions, the core deposit intangible value is a function of the difference between the cost of the acquired core deposits and the alternative cost of funds. These cash flow streams were discounted to present value. The fair value of other deposit accounts acquired were valued by estimating future cash flows to be received or paid from individual or homogenous groups of assets and liabilities and then discounting those cash flows to a present value using rates of return that were available in financial markets for similar financial instruments on or near the acquisition date. Direct costs related to the acquisition were expensed as incurred. There were no acquisition costs recorded related to the WHC acquisition during the three nine September 30, 2021 December 31, 2020 Operations of acquired entities have been included in the condensed consolidated financial statements since date of acquisition. The Company does not not September 30, 2021 January 1, 2020 |
Note 3 - Investment Securities
Note 3 - Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3. INVESTMENT SECURITIES The amortized cost and fair values of securities, together with unrealized gains and losses, were as follows: September 30, 2021 December 31, 2020 Gross Gross Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains (Losses) Value Cost Gains (Losses) Value (In Thousands) Available-for-Sale: U.S. government obligations $ 1,748 $ 20 $ - $ 1,768 $ 2,214 $ 31 $ - $ 2,245 U.S. treasury obligations 33,148 615 (12 ) 33,751 5,153 504 - 5,657 Municipal obligations 113,975 5,000 (114 ) 118,861 92,914 6,175 (1 ) 99,088 Corporate obligations 10,558 158 - 10,716 10,579 91 (7 ) 10,663 Mortgage-backed securities 15,585 165 (50 ) 15,700 7,513 161 (5 ) 7,669 Collateralized mortgage obligations 53,117 602 (397 ) 53,322 30,339 852 (2 ) 31,189 Asset-backed securities 5,790 125 - 5,915 6,293 142 - 6,435 Total $ 233,921 $ 6,685 $ (573 ) $ 240,033 $ 155,005 $ 7,956 $ (15 ) $ 162,946 Proceeds from sale of available-for-sale securities and the associated gross realized gains and losses were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In Thousands) Proceeds from sale of available-for-sale securities $ 3,910 $ - $ 3,910 $ 18,149 Gross realized gain on sale of available-for-sale securities 11 $ - 11 1,068 Gross realized loss on sale of available-for-sale securities - - - - Net realized gain on sale of available-for-sale securities $ 11 $ - $ 11 $ 1,068 The amortized cost and fair value of securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may September 30, 2021 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 3,308 $ 3,329 Due from one to five years 13,623 14,102 Due from five to ten years 47,815 48,703 Due after ten years 100,473 104,877 165,219 171,011 Mortgage-backed securities 15,585 15,700 Collateralized mortgage obligations 53,117 53,322 Total $ 233,921 $ 240,033 As of September 30, 2021 December 31, 2020 $22,259,000 The Company’s investment securities that have been in a continuous unrealized loss position for less than twelve twelve September 30, 2021 Less Than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. treasury obligations $ 10,533 $ (12 ) $ - $ - Municipal obligations 8,962 (114 ) - - Corporate obligations - - - - Mortgage-backed securities and collateralized mortgage obligations 33,706 (439 ) 1,413 (8 ) Total $ 53,201 $ (565 ) $ 1,413 $ (8 ) December 31, 2020 Less Than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. treasury obligations $ - $ - $ - $ - Municipal obligations 282 (1 ) - - Corporate obligations 4,243 (7 ) - - Mortgage-backed securities and collateralized mortgage obligations 3,180 (2 ) 1,501 (5 ) Total $ 7,705 $ (10 ) $ 1,501 $ (5 ) Unrealized losses associated with investments are believed to be caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of the securities and not not not nine September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 not |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4. LOANS RECEIVABLE Loans receivable consisted of the following: September 30, December 31, 2021 2020 (In Thousands) Real estate loans: Residential 1-4 family $ 142,921 $ 157,092 Commercial real estate 522,953 447,867 Other loans: Home equity 52,990 56,563 Consumer 18,940 20,168 Commercial 149,199 161,451 Total 887,003 843,141 Deferred loan fees, net (2,098 ) (2,038 ) Allowance for loan losses (12,200 ) (11,600 ) Total loans, net $ 872,705 $ 829,503 Within the commercial real estate loan category above, $10,459,000 and $11,084,000 was guaranteed by the United States Department of Agriculture Rural Development at September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Allowance for loan losses activity was as follows: Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning Balance, July 1, 2021 $ 1,544 $ 7,127 $ 522 $ 363 $ 2,344 $ 11,900 Charge-offs - - - (4 ) - (4 ) Recoveries - 6 - 1 42 49 Provision 26 155 8 3 63 255 Ending balance, September 30, 2021 $ 1,570 $ 7,288 $ 530 $ 363 $ 2,449 $ 12,200 Allowance for loan losses: Beginning balance, January 1, 2021 $ 1,506 $ 6,951 $ 515 $ 364 $ 2,264 $ 11,600 Charge-offs - (35 ) - (14 ) (6 ) (55 ) Recoveries - 15 - 7 57 79 Provision 64 357 15 6 134 576 Ending balance, September 30, 2021 $ 1,570 $ 7,288 $ 530 $ 363 $ 2,449 $ 12,200 Ending balance, September 30, 2021 allocated to loans individually evaluated for impairment $ 199 $ - $ - $ - $ 109 $ 308 Ending balance, September 30, 2021 allocated to loans collectively evaluated for impairment $ 1,371 $ 7,288 $ 530 $ 363 $ 2,340 $ 11,892 Loans receivable: Ending balance, September 30, 2021 $ 142,921 $ 522,953 $ 52,990 $ 18,940 $ 149,199 $ 887,003 Ending balance, September 30, 2021 of loans individually evaluated for impairment $ 1,122 $ 4,341 $ 121 $ 78 $ 2,111 $ 7,773 Ending balance, September 30, 2021 of loans collectively evaluated for impairment $ 141,799 $ 518,612 $ 52,869 $ 18,862 $ 147,088 $ 879,230 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, July 1, 2020 $ 1,369 $ 6,096 $ 491 $ 371 $ 2,173 $ 10,500 Charge-offs - - - (14 ) (67 ) (81 ) Recoveries - 2 - 2 23 27 Provision 92 623 13 9 117 854 Ending balance, September 30, 2020 $ 1,461 $ 6,721 $ 504 $ 368 $ 2,246 $ 11,300 Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,301 $ 4,826 $ 477 $ 284 $ 1,712 $ 8,600 Charge-offs - (18 ) - (25 ) (85 ) (128 ) Recoveries - 10 - 13 54 77 Provision 160 1,903 27 96 565 2,751 Ending balance, September 30, 2020 $ 1,461 $ 6,721 $ 504 $ 368 $ 2,246 $ 11,300 Ending balance, September 30, 2020 allocated to loans individually evaluated for impairment $ 296 $ - $ - $ - $ - $ 296 Ending balance, September 30, 2020 allocated to loans collectively evaluated for impairment $ 1,165 $ 6,721 $ 504 $ 368 $ 2,246 $ 11,004 Loans receivable: Ending balance, September 30, 2020 $ 152,835 $ 432,473 $ 61,460 $ 20,694 $ 183,611 $ 851,073 Ending balance, September 30, 2020 of loans individually evaluated for impairment $ 1,128 $ 3,998 $ 115 $ 163 $ 2,118 $ 7,522 Ending balance, September 30, 2020 of loans collectively evaluated for impairment $ 151,707 $ 428,475 $ 61,345 $ 20,531 $ 181,493 $ 843,551 Internal classification of the loan portfolio was as follows: September 30, 2021 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 98,560 $ 219 $ 469 $ 199 $ - $ 99,447 Residential 1-4 family construction 43,137 - 337 - - 43,474 Commercial real estate 374,699 3,200 2,172 - - 380,071 Commercial construction and development 78,058 - - - - 78,058 Farmland 62,410 276 2,091 47 - 64,824 Other loans: Home equity 52,559 264 167 - - 52,990 Consumer 18,861 - 79 - - 18,940 Commercial 94,057 954 543 - - 95,554 Agricultural 51,691 387 1,512 55 - 53,645 Total $ 874,032 $ 5,300 $ 7,370 $ 301 $ - $ 887,003 December 31, 2020 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,746 $ - $ 857 199 $ - $ 110,802 Residential 1-4 family construction 45,953 - 337 - - 46,290 Commercial real estate 311,756 2,568 2,344 - - 316,668 Commercial construction and development 65,231 14 36 - - 65,281 Farmland 63,565 136 2,164 53 - 65,918 Other loans: Home equity 56,177 274 112 - - 56,563 Consumer 20,017 - 151 - - 20,168 Commercial 107,810 829 570 - - 109,209 Agricultural 50,371 355 1,395 121 - 52,242 Total $ 830,626 $ 4,176 $ 7,966 $ 373 $ - $ 843,141 The following tables include information regarding delinquencies within the loan portfolio. September 30, 2021 Loans Past Due and Still Accruing 90 Days 30-89 Days and Nonaccrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 2 $ - $ 2 $ 785 $ 98,660 $ 99,447 Residential 1-4 family construction - - - 337 43,137 43,474 Commercial real estate 241 - 241 507 379,323 380,071 Commercial construction and development - - - - 78,058 78,058 Farmland 38 - 38 2,273 62,513 64,824 Other loans: Home equity - - - 121 52,869 52,990 Consumer 67 - 67 78 18,795 18,940 Commercial 31 34 65 534 94,955 95,554 Agricultural - - - 1,498 52,147 53,645 Total $ 379 $ 34 $ 413 $ 6,133 $ 880,457 $ 887,003 December 31, 2020 Loans Past Due and Still Accruing 90 Days 30-89 Days and Nonaccrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 693 $ 34 $ 727 $ 684 $ 109,391 $ 110,802 Residential 1-4 family construction 853 170 1,023 337 44,930 46,290 Commercial real estate 274 - 274 631 315,763 316,668 Commercial construction and development - - - 36 65,245 65,281 Farmland 179 - 179 2,245 63,494 65,918 Other loans: Home equity 53 - 53 111 56,399 56,563 Consumer 72 - 72 151 19,945 20,168 Commercial 553 6 559 537 108,113 109,209 Agricultural 71 182 253 1,542 50,447 52,242 Total $ 2,748 $ 392 $ 3,140 $ 6,274 $ 833,727 $ 843,141 The following tables include information regarding impaired loans. September 30, 2021 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 785 $ 867 $ 199 Residential 1-4 family construction 337 387 - Commercial real estate 2,068 2,116 - Commercial construction and development - - - Farmland 2,273 2,333 - Other loans: Home equity 121 150 - Consumer 78 87 - Commercial 534 658 - Agricultural 1,577 2,162 109 Total $ 7,773 $ 8,760 $ 308 December 31, 2020 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 1,204 $ 1,267 $ 296 Residential 1-4 family construction 337 387 - Commercial real estate 2,264 2,328 - Commercial construction and development 50 50 - Farmland 2,245 2,262 - Other loans: Home equity 111 136 - Consumer 151 171 - Commercial 537 664 - Agricultural 1,702 2,268 54 Total $ 8,601 $ 9,533 $ 350 Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Average Recorded Investment Average Recorded Investment (In Thousands) (In Thousands) Real estate loans: Residential 1-4 family $ 715 $ 860 $ 994 $ 704 Residential 1-4 family construction 337 337 337 337 Commercial real estate 2,239 2,561 2,166 1,565 Commercial construction and development - 54 25 32 Farmland 2,125 1,345 2,259 956 Other loans: Home equity 126 153 116 107 Consumer 78 181 114 160 Commercial 536 731 536 746 Agricultural 1,366 1,470 1,640 975 Total $ 7,522 $ 7,692 $ 8,187 $ 5,582 Interest income recognized on impaired loans for the three nine September 30, 2021 2020 is considered insignificant. Interest payments received on a cash basis related to impaired loans were and for September 30, 2021 and December 31, 2020 , respectively. As of September 30, 2021 December 31, 2020 During the three September 30, 2021 , there were two nine September 30, 2021 there were three two first 2021 . The commercial real estate loan was paid off during the three September 30, 2021. During the three September 30, 2020 , there were no new TDR loans. During the nine September 30, 2020 , there were three nine September 30, 2021 September 30, 2021 were $1,561,000 and $79,000, respectively. There were no loans modified as TDRs that defaulted during the three nine September 30, 2021 where the default occurred within 12 90 As of September 30, 2021 , the Company had no commitments to lend additional funds to loan customers whose terms had been modified in TDRs. The Company has offered borrowers accommodations due to the impact from COVID- 19, 90 not Security Act ("CARES Act"). In addition, the Montana Board of Investments ("MBOI") offered 12 September 30, 2021 , remaining loan modifications for five nonresidential borrowers represented $98,000 in loans. As of December 31, 2020 , loan modifications for 40 borrowers represented $28,994,000. |
Note 5 - Mortgage Servicing Rig
Note 5 - Mortgage Servicing Rights | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 5 . MORTGAGE SERVICING RIGHTS The Company is servicing mortgage loans for the benefit of others which are not September 30, 2021 December 31, 2020 three September 30, 2021 2020 nine September 30, 2021 2020 Custodial balances maintained in connection with the foregoing loan servicing are included in noninterest checking deposits and were $20,947,000 and $15,853,000 at September 30, 2021 December 31, 2020 The following table is a summary of activity in mortgage servicing rights: As of or For the Three Months Ended September 30, 2021 2020 (In Thousands) Mortgage servicing rights: Beginning balance $ 12,232 $ 9,550 Mortgage servicing rights capitalized 1,662 1,700 Amortization of mortgage servicing rights (863 ) (854 ) Ending balance $ 13,031 $ 10,396 Valuation allowance: Beginning balance $ (104 ) $ (1,216 ) Recovery of mortgage servicing rights 14 338 Ending balance $ (90 ) $ (878 ) Mortgage servicing rights, net $ 12,941 $ 9,518 As of or For the Nine Months Ended September 30, 2021 2020 (In Thousands) Mortgage servicing rights: Beginning balance $ 10,897 $ 8,739 Mortgage servicing rights capitalized 5,015 4,133 Amortization of mortgage servicing rights (2,881 ) (2,476 ) Ending balance 13,031 10,396 Valuation allowance: Beginning balance (792 ) - Recovery (impairment) of mortgage servicing rights 702 (878 ) Ending balance (90 ) (878 ) Mortgage servicing rights, net $ 12,941 $ 9,518 Impairment expense on mortgage servicing rights of $878,000 was recorded during the nine September 30, 2020, nine September 30, 2021. three September 30, 2021 2020 The fair values of these rights were $13,666,000 and $10,105,000 at September 30, 2021 December 31, 2020 September 30, December 31, 2021 2020 Key assumptions: Discount rate 12 % 12 % Prepayment speed range 192-272 % 221-328 % Weighted average prepayment speed 214 % 281 % |
Note 6 - Deposits
Note 6 - Deposits | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 6 . DEPOSITS Deposits are summarized as follows: September 30, December 31, 2021 2020 (In Thousands) Noninterest checking $ 367,127 $ 318,389 Interest-bearing checking 198,130 160,614 Savings 213,895 179,868 Money market 261,866 202,407 Time certificates of deposit 153,531 171,805 Total $ 1,194,549 $ 1,033,083 Time certificates of deposit ("CDs") include $0 September 30, 2021 December 31, 2020 |
Note 7 - Other Long-term Debt
Note 7 - Other Long-term Debt | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 7 . OTHER LONG-TERM DEBT Other long-term debt consisted of the following: September 30, 2021 December 31, 2020 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Senior notes fixed at 5.75% 2022 $ 10,000 $ (15 ) $ 10,000 $ (48 ) Subordinated debentures fixed at 5.50% 2030 15,000 (290 ) 15,000 (316 ) Subordinated debentures variable at 3-Month Libor plus 1.42% 2035 5,155 - 5,155 - Total other long-term debt $ 30,155 $ (305 ) $ 30,155 $ (364 ) In June 2020, 2030 July 1, 2025, three July 1, 2025. 2 In February 2017, 5.75% 2022. not In June 2015, 2025 6.75% June 19, 2020. July 10, 2020. In September 2005, December 2005. 6.02% December 2010 three 1.42%, September 30, 2021 December 31, 2020 may five December 2035 1 |
Note 8 - Accumulated Other Comp
Note 8 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 8. The following table includes information regarding the activity in accumulated other comprehensive income (loss). Unrealized Gains (Losses) on Securities Available-for-Sale (In Thousands) Balance at July 1, 2021 $ 4,938 Other comprehensive loss, before reclassifications and income taxes (578 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (11 ) Income tax benefit 155 Total other comprehensive loss (434 ) Balance at September 30, 2021 $ 4,504 Balance at July 1, 2020 $ 4,086 Other comprehensive income, before reclassifications and income taxes 1,263 Amounts reclassified from accumulated other comprehensive income, before income taxes - Income tax provision (332 ) Total other comprehensive income 931 Balance at September 30, 2020 $ 5,017 Balance at January 1, 2021 $ 5,851 Other comprehensive loss, before reclassifications and income taxes (1,818 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (11 ) Income tax benefit 482 Total other comprehensive loss (1,347 ) Balance at September 30, 2021 $ 4,504 Balance at January 1, 2020 $ 1,329 Other comprehensive income, before reclassifications and income taxes 6,074 Amounts reclassified from accumulated other comprehensive income, before income taxes (1,068 ) Income tax provision (1,318 ) Total other comprehensive income 3,688 Balance at September 30, 2020 $ 5,017 |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9. EARNINGS PER SHARE The computations of basic and diluted earnings per share are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (Dollars in Thousands, Except Per Share Data) Basic weighted average shares outstanding 6,525,509 6,776,417 6,691,256 6,804,495 Dilutive effect of stock compensation 18,535 37,322 18,120 29,434 Diluted weighted average shares outstanding 6,544,044 6,813,739 6,709,376 6,833,929 Net income available to common shareholders $ 4,746 $ 6,380 $ 12,692 $ 16,042 Basic earnings per share $ 0.73 $ 0.94 $ 1.90 $ 2.36 Diluted earnings per share $ 0.73 $ 0.94 $ 1.89 $ 2.35 There were no anti-dilutive shares a September 30, 2021 December 31, 2020 |
Note 10 - Derivatives and Hedgi
Note 10 - Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 10. The Company enters into commitments to originate and sell mortgage loans. The Bank uses derivatives to hedge the risk of changes in fair values of interest rate lock commitments and mortgage loans held-for-sale. An optimal amount of mortgage loans are sold directly into bulk commitments with investors at the time an interest rate is locked, other loans are sold on an individual best efforts basis at the time an interest rate is locked, and the remaining balance of locked loans are hedged using To-Be-Announced (“TBA”) mortgage-backed securities or bulk mandatory forward loan sale commitments. Derivatives are accounted for as free-standing or economic derivatives and are measured at fair value. Derivatives are recorded as either other assets or other liabilities on the condensed consolidated statements of condition. Derivatives are summarized as follows: September 30, 2021 December 31, 2020 Notional Fair Value Notional Fair Value Amount Asset Liability Amount Asset Liability (In Thousands) Interest rate lock commitments $ 125,318 $ 2,328 $ - $ 227,977 $ 6,017 $ - Forward TBA mortgage-backed securities 101,000 680 - 180,000 - 1,056 Changes in the fair value of the derivatives are recorded in mortgage banking, net within noninterest income on the condensed consolidated statements of income . Net gains three September 30, 2021 three September 30, 2020 Net losses of nine September 30, 2021 nine September 30, 2020 |
Note 11 - Fair Value of Financi
Note 11 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE 11 . FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Assets and liabilities that are measured at fair value are grouped in three The fair value hierarchy is as follows: ■ Level 1 ■ Level 2 not ■ Level 3 may A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy at the reporting date, is set forth below. Available-for-Sale Securities 1 2 2 may not Loans Held-for-Sale not 2 Derivative Instruments 3 2 Impaired Loans not 3 Real Estate and Other Repossessed Assets third 3 Mortgage Servicing Rights third 3 The following tables summarize financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value. September 30, 2021 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities: U.S. government obligations $ - $ 1,768 $ - $ 1,768 U.S. treasury obligations 33,751 - - 33,751 Municipal obligations - 118,861 - 118,861 Corporate obligations - 10,716 - 10,716 Mortgage-backed securities - 15,700 - 15,700 Collateralized mortgage obligations - 53,322 - 53,322 Asset-backed securities - 5,915 - 5,915 Loans held-for-sale - 42,059 - 42,059 Interest rate lock commitments - - 2,328 2,328 Forward TBA mortgage-backed securities - 680 - 680 December 31, 2020 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities: U.S. government obligations $ - $ 2,245 $ - $ 2,245 U.S. treasury obligations 5,657 - - 5,657 Municipal obligations - 99,088 - 99,088 Corporate obligations - 10,663 - 10,663 Mortgage-backed securities - 7,669 - 7,669 Collateralized mortgage obligations - 31,189 - 31,189 Asset-backed securities - 6,435 - 6,435 Loans held-for-sale - 54,615 - 54,615 Interest rate lock commitments - - 6,017 6,017 Financial liabilities: Forward TBA mortgage-backed securities - 1,056 - 1,056 Certain financial assets may The following table summarizes financial assets measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting periods presented: September 30, 2021 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 71 $ 71 Real estate and other repossessed assets - - 117 117 Mortgage servicing rights - - 13,666 13,666 December 31, 2020 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 728 $ 728 Real estate and other repossessed assets - - - - Mortgage servicing rights - - 10,105 10,105 The following table represents the Banks’s Level 3 Principal Significant Range of Valuation Unobservable Significant Input Instrument Technique Inputs Values Impaired loans Fair value of underlying collateral Discount applied to the obtained appraisal 10 - 30% Real estate and other repossessed assets Fair value of collateral Discount applied to the obtained appraisal 10 - 30% Mortgage servicing rights Discounted cash flows Discount rate 10 - 15% Prepayment speeds 180 - 330% Interest rate lock commitments Internal pricing model Pull-through expectations 85 - 95% The following tables provide a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3 nine September 30, 2021 Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Interest Rate Lock Commitments Interest Rate Lock Commitments (In Thousands) (In Thousands) Beginning balance $ 2,949 $ 5,501 $ 6,017 $ 554 Purchases and issuances (5,710 ) 8,360 (17,596 ) 21,061 Sales and settlements 5,089 (6,713 ) 13,907 (14,467 ) Ending balance $ 2,328 $ 7,148 $ 2,328 $ 7,148 Net change in unrealized gains relating to items held at end of period $ (621 ) $ 1,647 $ (3,689 ) $ 6,594 The tables below summarize the estimated fair values of financial instruments of the Company, whether or not September 30, 2021 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 94,940 $ - $ - $ 94,940 $ 94,940 FHLB stock 1,702 - - 1,702 1,702 FRB stock 2,974 - - 2,974 2,974 Loans receivable, gross - - 892,161 892,161 884,905 Accrued interest and dividends receivable 6,218 - - 6,218 6,218 Mortgage servicing rights - - 13,666 13,666 12,941 Financial liabilities: Non-maturing interest-bearing deposits - 673,891 - 673,891 673,891 Noninterest-bearing deposits 367,127 - - 367,127 367,127 Time certificates of deposit - - 153,823 153,823 153,531 Accrued expenses and other liabilities 19,745 - - 19,745 19,745 FHLB advances and other borrowings - - 5,023 5,023 5,000 Other long-term debt - - 29,371 29,371 30,155 December 31, 2020 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 69,802 $ - $ - $ 69,802 $ 69,802 FHLB stock 2,060 - - 2,060 2,060 FRB stock 2,974 - - 2,974 2,974 Loans receivable, gross - - 847,579 847,579 841,103 Accrued interest and dividends receivable 5,765 - - 5,765 5,765 Mortgage servicing rights - - 10,105 10,105 10,105 Financial liabilities: Non-maturing interest-bearing deposits - 542,889 - 542,889 542,889 Noninterest-bearing deposits 318,389 - - 318,389 318,389 Time certificates of deposit - - 172,561 172,561 171,805 Accrued expenses and other liabilities 23,239 - - 23,239 23,239 FHLB advances and other borrowings - - 17,217 17,217 17,070 Other long-term debt - - 29,414 29,414 30,155 |
Note 12 - Recent Accounting Pro
Note 12 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | NOTE 12 . RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements In August 2018, No. 2018 13, 820 no January 1, 2020 not Recently Issued Accounting Pronouncements In September 2016, No. 2016 13, 326 In October 2019, December 15, 2022, first The Company believes the amendments in this update will have an impact on the Company’s condensed consolidated financial statements and is continuing to evaluate the significance of that impact, even though the adoption date has been deferred. In that regard, we have established a working group composed of individuals from the finance and credit administration areas of the Company. We are currently developing an implementation plan, including assessment of processes, segmentation of the loan portfolio and identifying and adding data fields necessary for analysis. The adoption of this standard is likely to result in an increase in the allowance for loan and lease losses as a result of changing from an “incurred loss” model to an “expected loss” model. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics and quality of our loan and securities portfolios, as well as the general economic conditions and forecasts as of the adoption date. In January 2017, No. 2017 04, 350 2 January 1, 2023 In March 2020, No. 2020 04, 848 December 31, 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Recent Events [Policy Text Block] | Recent Events During 2021, 10 three September 30, 2021, two September 30, 2021. The Company completed a modified "Dutch auction" tender offer (the "Tender Offer") in June 2021. The Company sold 251,256 shares of common stock to the Employee Stock Ownership Plan ("ESOP") at a price of $23.88 per share in June 2021. ten ten |
Basis of Presentation and Use of Estimates [Policy Text Block] | Basis of Financial Statement Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10 10 X 10 December 31, 2020 March 10, 2021. The results of operations for the nine September 30, 2021 not December 31, 2021 |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include Eagle, th e Bank, OHF, Eagle Bancorp Statutory Trust I (the “Trust”) and WFS. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain prior period amounts were reclassified to conform to the presentation for 2021 no |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events The Company has evaluated events and transactions subsequent to September 30, 2021 On October 1, 2021, fourth 2021. |
Note 2 - Mergers and Acquisit_2
Note 2 - Mergers and Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | WHC January 1, 2020 (In Thousands) Assets acquired: Cash and cash equivalents $ 11,544 Securities available-for-sale 43,710 Loans receivable 43,424 Premises and equipment 740 Cash surrender value of life insurance 2,131 Core deposit intangible 208 Other assets 1,874 Total assets acquired $ 103,631 Liabilities assumed: Deposits $ 86,572 Accrued expenses and other liabilities 4,554 Other borrowings 2,500 Total liabilities assumed $ 93,626 Net assets acquired $ 10,005 Consideration paid: Cash $ 6,500 Common stock issued ( 395,850 8,467 Total consideration paid $ 14,967 Goodwill resulting from acquisition $ 4,962 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Marketable Securities [Table Text Block] | September 30, 2021 December 31, 2020 Gross Gross Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains (Losses) Value Cost Gains (Losses) Value (In Thousands) Available-for-Sale: U.S. government obligations $ 1,748 $ 20 $ - $ 1,768 $ 2,214 $ 31 $ - $ 2,245 U.S. treasury obligations 33,148 615 (12 ) 33,751 5,153 504 - 5,657 Municipal obligations 113,975 5,000 (114 ) 118,861 92,914 6,175 (1 ) 99,088 Corporate obligations 10,558 158 - 10,716 10,579 91 (7 ) 10,663 Mortgage-backed securities 15,585 165 (50 ) 15,700 7,513 161 (5 ) 7,669 Collateralized mortgage obligations 53,117 602 (397 ) 53,322 30,339 852 (2 ) 31,189 Asset-backed securities 5,790 125 - 5,915 6,293 142 - 6,435 Total $ 233,921 $ 6,685 $ (573 ) $ 240,033 $ 155,005 $ 7,956 $ (15 ) $ 162,946 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In Thousands) Proceeds from sale of available-for-sale securities $ 3,910 $ - $ 3,910 $ 18,149 Gross realized gain on sale of available-for-sale securities 11 $ - 11 1,068 Gross realized loss on sale of available-for-sale securities - - - - Net realized gain on sale of available-for-sale securities $ 11 $ - $ 11 $ 1,068 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2021 Amortized Fair Cost Value (In Thousands) Due in one year or less $ 3,308 $ 3,329 Due from one to five years 13,623 14,102 Due from five to ten years 47,815 48,703 Due after ten years 100,473 104,877 165,219 171,011 Mortgage-backed securities 15,585 15,700 Collateralized mortgage obligations 53,117 53,322 Total $ 233,921 $ 240,033 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2021 Less Than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. treasury obligations $ 10,533 $ (12 ) $ - $ - Municipal obligations 8,962 (114 ) - - Corporate obligations - - - - Mortgage-backed securities and collateralized mortgage obligations 33,706 (439 ) 1,413 (8 ) Total $ 53,201 $ (565 ) $ 1,413 $ (8 ) December 31, 2020 Less Than 12 Months 12 Months or Longer Gross Gross Fair Unrealized Fair Unrealized Value Losses Value Losses (In Thousands) U.S. treasury obligations $ - $ - $ - $ - Municipal obligations 282 (1 ) - - Corporate obligations 4,243 (7 ) - - Mortgage-backed securities and collateralized mortgage obligations 3,180 (2 ) 1,501 (5 ) Total $ 7,705 $ (10 ) $ 1,501 $ (5 ) |
Note 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2021 2020 (In Thousands) Real estate loans: Residential 1-4 family $ 142,921 $ 157,092 Commercial real estate 522,953 447,867 Other loans: Home equity 52,990 56,563 Consumer 18,940 20,168 Commercial 149,199 161,451 Total 887,003 843,141 Deferred loan fees, net (2,098 ) (2,038 ) Allowance for loan losses (12,200 ) (11,600 ) Total loans, net $ 872,705 $ 829,503 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning Balance, July 1, 2021 $ 1,544 $ 7,127 $ 522 $ 363 $ 2,344 $ 11,900 Charge-offs - - - (4 ) - (4 ) Recoveries - 6 - 1 42 49 Provision 26 155 8 3 63 255 Ending balance, September 30, 2021 $ 1,570 $ 7,288 $ 530 $ 363 $ 2,449 $ 12,200 Allowance for loan losses: Beginning balance, January 1, 2021 $ 1,506 $ 6,951 $ 515 $ 364 $ 2,264 $ 11,600 Charge-offs - (35 ) - (14 ) (6 ) (55 ) Recoveries - 15 - 7 57 79 Provision 64 357 15 6 134 576 Ending balance, September 30, 2021 $ 1,570 $ 7,288 $ 530 $ 363 $ 2,449 $ 12,200 Ending balance, September 30, 2021 allocated to loans individually evaluated for impairment $ 199 $ - $ - $ - $ 109 $ 308 Ending balance, September 30, 2021 allocated to loans collectively evaluated for impairment $ 1,371 $ 7,288 $ 530 $ 363 $ 2,340 $ 11,892 Loans receivable: Ending balance, September 30, 2021 $ 142,921 $ 522,953 $ 52,990 $ 18,940 $ 149,199 $ 887,003 Ending balance, September 30, 2021 of loans individually evaluated for impairment $ 1,122 $ 4,341 $ 121 $ 78 $ 2,111 $ 7,773 Ending balance, September 30, 2021 of loans collectively evaluated for impairment $ 141,799 $ 518,612 $ 52,869 $ 18,862 $ 147,088 $ 879,230 Residential Commercial Home 1-4 Family Real Estate Equity Consumer Commercial Total (In Thousands) Allowance for loan losses: Beginning balance, July 1, 2020 $ 1,369 $ 6,096 $ 491 $ 371 $ 2,173 $ 10,500 Charge-offs - - - (14 ) (67 ) (81 ) Recoveries - 2 - 2 23 27 Provision 92 623 13 9 117 854 Ending balance, September 30, 2020 $ 1,461 $ 6,721 $ 504 $ 368 $ 2,246 $ 11,300 Allowance for loan losses: Beginning balance, January 1, 2020 $ 1,301 $ 4,826 $ 477 $ 284 $ 1,712 $ 8,600 Charge-offs - (18 ) - (25 ) (85 ) (128 ) Recoveries - 10 - 13 54 77 Provision 160 1,903 27 96 565 2,751 Ending balance, September 30, 2020 $ 1,461 $ 6,721 $ 504 $ 368 $ 2,246 $ 11,300 Ending balance, September 30, 2020 allocated to loans individually evaluated for impairment $ 296 $ - $ - $ - $ - $ 296 Ending balance, September 30, 2020 allocated to loans collectively evaluated for impairment $ 1,165 $ 6,721 $ 504 $ 368 $ 2,246 $ 11,004 Loans receivable: Ending balance, September 30, 2020 $ 152,835 $ 432,473 $ 61,460 $ 20,694 $ 183,611 $ 851,073 Ending balance, September 30, 2020 of loans individually evaluated for impairment $ 1,128 $ 3,998 $ 115 $ 163 $ 2,118 $ 7,522 Ending balance, September 30, 2020 of loans collectively evaluated for impairment $ 151,707 $ 428,475 $ 61,345 $ 20,531 $ 181,493 $ 843,551 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2021 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 98,560 $ 219 $ 469 $ 199 $ - $ 99,447 Residential 1-4 family construction 43,137 - 337 - - 43,474 Commercial real estate 374,699 3,200 2,172 - - 380,071 Commercial construction and development 78,058 - - - - 78,058 Farmland 62,410 276 2,091 47 - 64,824 Other loans: Home equity 52,559 264 167 - - 52,990 Consumer 18,861 - 79 - - 18,940 Commercial 94,057 954 543 - - 95,554 Agricultural 51,691 387 1,512 55 - 53,645 Total $ 874,032 $ 5,300 $ 7,370 $ 301 $ - $ 887,003 December 31, 2020 Special Pass Mention Substandard Doubtful Loss Total (In Thousands) Real estate loans: Residential 1-4 family $ 109,746 $ - $ 857 199 $ - $ 110,802 Residential 1-4 family construction 45,953 - 337 - - 46,290 Commercial real estate 311,756 2,568 2,344 - - 316,668 Commercial construction and development 65,231 14 36 - - 65,281 Farmland 63,565 136 2,164 53 - 65,918 Other loans: Home equity 56,177 274 112 - - 56,563 Consumer 20,017 - 151 - - 20,168 Commercial 107,810 829 570 - - 109,209 Agricultural 50,371 355 1,395 121 - 52,242 Total $ 830,626 $ 4,176 $ 7,966 $ 373 $ - $ 843,141 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2021 Loans Past Due and Still Accruing 90 Days 30-89 Days and Nonaccrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 2 $ - $ 2 $ 785 $ 98,660 $ 99,447 Residential 1-4 family construction - - - 337 43,137 43,474 Commercial real estate 241 - 241 507 379,323 380,071 Commercial construction and development - - - - 78,058 78,058 Farmland 38 - 38 2,273 62,513 64,824 Other loans: Home equity - - - 121 52,869 52,990 Consumer 67 - 67 78 18,795 18,940 Commercial 31 34 65 534 94,955 95,554 Agricultural - - - 1,498 52,147 53,645 Total $ 379 $ 34 $ 413 $ 6,133 $ 880,457 $ 887,003 December 31, 2020 Loans Past Due and Still Accruing 90 Days 30-89 Days and Nonaccrual Current Total Past Due Greater Total Loans Loans Loans (In Thousands) Real estate loans: Residential 1-4 family $ 693 $ 34 $ 727 $ 684 $ 109,391 $ 110,802 Residential 1-4 family construction 853 170 1,023 337 44,930 46,290 Commercial real estate 274 - 274 631 315,763 316,668 Commercial construction and development - - - 36 65,245 65,281 Farmland 179 - 179 2,245 63,494 65,918 Other loans: Home equity 53 - 53 111 56,399 56,563 Consumer 72 - 72 151 19,945 20,168 Commercial 553 6 559 537 108,113 109,209 Agricultural 71 182 253 1,542 50,447 52,242 Total $ 2,748 $ 392 $ 3,140 $ 6,274 $ 833,727 $ 843,141 |
Impaired Financing Receivables [Table Text Block] | September 30, 2021 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 785 $ 867 $ 199 Residential 1-4 family construction 337 387 - Commercial real estate 2,068 2,116 - Commercial construction and development - - - Farmland 2,273 2,333 - Other loans: Home equity 121 150 - Consumer 78 87 - Commercial 534 658 - Agricultural 1,577 2,162 109 Total $ 7,773 $ 8,760 $ 308 December 31, 2020 Unpaid Recorded Principal Related Investment Balance Allowance (In Thousands) Real estate loans: Residential 1-4 family $ 1,204 $ 1,267 $ 296 Residential 1-4 family construction 337 387 - Commercial real estate 2,264 2,328 - Commercial construction and development 50 50 - Farmland 2,245 2,262 - Other loans: Home equity 111 136 - Consumer 151 171 - Commercial 537 664 - Agricultural 1,702 2,268 54 Total $ 8,601 $ 9,533 $ 350 Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Average Recorded Investment Average Recorded Investment (In Thousands) (In Thousands) Real estate loans: Residential 1-4 family $ 715 $ 860 $ 994 $ 704 Residential 1-4 family construction 337 337 337 337 Commercial real estate 2,239 2,561 2,166 1,565 Commercial construction and development - 54 25 32 Farmland 2,125 1,345 2,259 956 Other loans: Home equity 126 153 116 107 Consumer 78 181 114 160 Commercial 536 731 536 746 Agricultural 1,366 1,470 1,640 975 Total $ 7,522 $ 7,692 $ 8,187 $ 5,582 |
Note 5 - Mortgage Servicing R_2
Note 5 - Mortgage Servicing Rights (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Activities in Mortgage Servicing Rights [Table Text Block] | As of or For the Three Months Ended September 30, 2021 2020 (In Thousands) Mortgage servicing rights: Beginning balance $ 12,232 $ 9,550 Mortgage servicing rights capitalized 1,662 1,700 Amortization of mortgage servicing rights (863 ) (854 ) Ending balance $ 13,031 $ 10,396 Valuation allowance: Beginning balance $ (104 ) $ (1,216 ) Recovery of mortgage servicing rights 14 338 Ending balance $ (90 ) $ (878 ) Mortgage servicing rights, net $ 12,941 $ 9,518 As of or For the Nine Months Ended September 30, 2021 2020 (In Thousands) Mortgage servicing rights: Beginning balance $ 10,897 $ 8,739 Mortgage servicing rights capitalized 5,015 4,133 Amortization of mortgage servicing rights (2,881 ) (2,476 ) Ending balance 13,031 10,396 Valuation allowance: Beginning balance (792 ) - Recovery (impairment) of mortgage servicing rights 702 (878 ) Ending balance (90 ) (878 ) Mortgage servicing rights, net $ 12,941 $ 9,518 |
Mortgage Servicing Rights [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | September 30, December 31, 2021 2020 Key assumptions: Discount rate 12 % 12 % Prepayment speed range 192-272 % 221-328 % Weighted average prepayment speed 214 % 281 % |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | September 30, December 31, 2021 2020 (In Thousands) Noninterest checking $ 367,127 $ 318,389 Interest-bearing checking 198,130 160,614 Savings 213,895 179,868 Money market 261,866 202,407 Time certificates of deposit 153,531 171,805 Total $ 1,194,549 $ 1,033,083 |
Note 7 - Other Long-term Debt (
Note 7 - Other Long-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, 2021 December 31, 2020 Unamortized Unamortized Debt Debt Principal Issuance Principal Issuance Amount Costs Amount Costs (In Thousands) Senior notes fixed at 5.75% 2022 $ 10,000 $ (15 ) $ 10,000 $ (48 ) Subordinated debentures fixed at 5.50% 2030 15,000 (290 ) 15,000 (316 ) Subordinated debentures variable at 3-Month Libor plus 1.42% 2035 5,155 - 5,155 - Total other long-term debt $ 30,155 $ (305 ) $ 30,155 $ (364 ) |
Note 8 - Accumulated Other Co_2
Note 8 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) on Securities Available-for-Sale (In Thousands) Balance at July 1, 2021 $ 4,938 Other comprehensive loss, before reclassifications and income taxes (578 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (11 ) Income tax benefit 155 Total other comprehensive loss (434 ) Balance at September 30, 2021 $ 4,504 Balance at July 1, 2020 $ 4,086 Other comprehensive income, before reclassifications and income taxes 1,263 Amounts reclassified from accumulated other comprehensive income, before income taxes - Income tax provision (332 ) Total other comprehensive income 931 Balance at September 30, 2020 $ 5,017 Balance at January 1, 2021 $ 5,851 Other comprehensive loss, before reclassifications and income taxes (1,818 ) Amounts reclassified from accumulated other comprehensive income, before income taxes (11 ) Income tax benefit 482 Total other comprehensive loss (1,347 ) Balance at September 30, 2021 $ 4,504 Balance at January 1, 2020 $ 1,329 Other comprehensive income, before reclassifications and income taxes 6,074 Amounts reclassified from accumulated other comprehensive income, before income taxes (1,068 ) Income tax provision (1,318 ) Total other comprehensive income 3,688 Balance at September 30, 2020 $ 5,017 |
Note 9 - Earnings Per Share (Ta
Note 9 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (Dollars in Thousands, Except Per Share Data) Basic weighted average shares outstanding 6,525,509 6,776,417 6,691,256 6,804,495 Dilutive effect of stock compensation 18,535 37,322 18,120 29,434 Diluted weighted average shares outstanding 6,544,044 6,813,739 6,709,376 6,833,929 Net income available to common shareholders $ 4,746 $ 6,380 $ 12,692 $ 16,042 Basic earnings per share $ 0.73 $ 0.94 $ 1.90 $ 2.36 Diluted earnings per share $ 0.73 $ 0.94 $ 1.89 $ 2.35 |
Note 10 - Derivatives and Hed_2
Note 10 - Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | September 30, 2021 December 31, 2020 Notional Fair Value Notional Fair Value Amount Asset Liability Amount Asset Liability (In Thousands) Interest rate lock commitments $ 125,318 $ 2,328 $ - $ 227,977 $ 6,017 $ - Forward TBA mortgage-backed securities 101,000 680 - 180,000 - 1,056 |
Note 11 - Fair Value of Finan_2
Note 11 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2021 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities: U.S. government obligations $ - $ 1,768 $ - $ 1,768 U.S. treasury obligations 33,751 - - 33,751 Municipal obligations - 118,861 - 118,861 Corporate obligations - 10,716 - 10,716 Mortgage-backed securities - 15,700 - 15,700 Collateralized mortgage obligations - 53,322 - 53,322 Asset-backed securities - 5,915 - 5,915 Loans held-for-sale - 42,059 - 42,059 Interest rate lock commitments - - 2,328 2,328 Forward TBA mortgage-backed securities - 680 - 680 December 31, 2020 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Financial assets: Available-for-sale securities: U.S. government obligations $ - $ 2,245 $ - $ 2,245 U.S. treasury obligations 5,657 - - 5,657 Municipal obligations - 99,088 - 99,088 Corporate obligations - 10,663 - 10,663 Mortgage-backed securities - 7,669 - 7,669 Collateralized mortgage obligations - 31,189 - 31,189 Asset-backed securities - 6,435 - 6,435 Loans held-for-sale - 54,615 - 54,615 Interest rate lock commitments - - 6,017 6,017 Financial liabilities: Forward TBA mortgage-backed securities - 1,056 - 1,056 |
Fair Value Measurements, Nonrecurring [Table Text Block] | September 30, 2021 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 71 $ 71 Real estate and other repossessed assets - - 117 117 Mortgage servicing rights - - 13,666 13,666 December 31, 2020 Level 1 Level 2 Level 3 Total Fair Inputs Inputs Inputs Value (In Thousands) Impaired loans $ - $ - $ 728 $ 728 Real estate and other repossessed assets - - - - Mortgage servicing rights - - 10,105 10,105 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Interest Rate Lock Commitments Interest Rate Lock Commitments (In Thousands) (In Thousands) Beginning balance $ 2,949 $ 5,501 $ 6,017 $ 554 Purchases and issuances (5,710 ) 8,360 (17,596 ) 21,061 Sales and settlements 5,089 (6,713 ) 13,907 (14,467 ) Ending balance $ 2,328 $ 7,148 $ 2,328 $ 7,148 Net change in unrealized gains relating to items held at end of period $ (621 ) $ 1,647 $ (3,689 ) $ 6,594 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2021 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 94,940 $ - $ - $ 94,940 $ 94,940 FHLB stock 1,702 - - 1,702 1,702 FRB stock 2,974 - - 2,974 2,974 Loans receivable, gross - - 892,161 892,161 884,905 Accrued interest and dividends receivable 6,218 - - 6,218 6,218 Mortgage servicing rights - - 13,666 13,666 12,941 Financial liabilities: Non-maturing interest-bearing deposits - 673,891 - 673,891 673,891 Noninterest-bearing deposits 367,127 - - 367,127 367,127 Time certificates of deposit - - 153,823 153,823 153,531 Accrued expenses and other liabilities 19,745 - - 19,745 19,745 FHLB advances and other borrowings - - 5,023 5,023 5,000 Other long-term debt - - 29,371 29,371 30,155 December 31, 2020 Total Level 1 Level 2 Level 3 Estimated Carrying Inputs Inputs Inputs Fair Value Amount (In Thousands) Financial assets: Cash and cash equivalents $ 69,802 $ - $ - $ 69,802 $ 69,802 FHLB stock 2,060 - - 2,060 2,060 FRB stock 2,974 - - 2,974 2,974 Loans receivable, gross - - 847,579 847,579 841,103 Accrued interest and dividends receivable 5,765 - - 5,765 5,765 Mortgage servicing rights - - 10,105 10,105 10,105 Financial liabilities: Non-maturing interest-bearing deposits - 542,889 - 542,889 542,889 Noninterest-bearing deposits 318,389 - - 318,389 318,389 Time certificates of deposit - - 172,561 172,561 171,805 Accrued expenses and other liabilities 23,239 - - 23,239 23,239 FHLB advances and other borrowings - - 17,217 17,217 17,070 Other long-term debt - - 29,414 29,414 30,155 |
Impaired Loans and Real Estate and Other Repossessed Assets [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Principal Significant Range of Valuation Unobservable Significant Input Instrument Technique Inputs Values Impaired loans Fair value of underlying collateral Discount applied to the obtained appraisal 10 - 30% Real estate and other repossessed assets Fair value of collateral Discount applied to the obtained appraisal 10 - 30% Mortgage servicing rights Discounted cash flows Discount rate 10 - 15% Prepayment speeds 180 - 330% Interest rate lock commitments Internal pricing model Pull-through expectations 85 - 95% |
Note 1 - Organization and Sum_2
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) | Jun. 23, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Jan. 01, 2019 | Jan. 31, 2018 |
Treasury Stock, Shares, Acquired (in shares) | 61,495 | 62,776 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ 966,000 | $ 987,000 | ||||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 15.70 | $ 15.73 | ||||||
Stock Issued During Period, Shares, Employee Stock Ownership Plan (in shares) | 251,256 | 251,256 | ||||||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased (in dollars per share) | $ 23.88 | $ 23.88 | ||||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | $ 6,000,000 | $ 0 | ||||||
Debt Instrument, Face Amount | $ 30,155,000 | $ 30,155,000 | ||||||
Employee Stock Ownership Plan (ESOP), Period for Allocation of Shares (Year) | 10 years | |||||||
ESOP Loan [Member] | ||||||||
Debt Instrument, Face Amount | $ 6,000,000 | |||||||
Debt Instrument, Term (Year) | 10 years | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||
Dutch Auction Tender Offer [Member] | ||||||||
Treasury Stock, Shares, Acquired (in shares) | 250,000 | 250,000 | ||||||
Treasury Stock, Acquired, Cost per Share, Net of Fees (in dollars per share) | $ 24 | |||||||
Treasury Stock, Value, Acquired, Cost Method | $ 6,279,000 | $ 6,279,000 | ||||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 25.12 | $ 25.12 | ||||||
Opportunity Bank of Montana [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||||
TwinCo Acquisition [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||||
Big Muddy Bancorp Acquisition [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||||
Opportunity Housing Fund, LLC [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||||
Investments, Total | $ 935,000 |
Note 2 - Mergers and Acquisit_3
Note 2 - Mergers and Acquisitions (Details Textual) - USD ($) | Jan. 01, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,919,000 | $ 1,919,000 | $ 2,343,000 | ||||
Business Combination, Acquisition Related Costs | 35,000 | $ 0 | 35,000 | $ 157,000 | |||
WHC [Member] | |||||||
Business Combination, Consideration Transferred, Total | $ 14,967,000 | ||||||
Payments to Acquire Businesses, Gross | 6,500,000 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 8,467,000 | ||||||
Goodwill, Acquired During Period | $ 4,962,000 | ||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Investments | 425,000 | ||||||
Business Combination, Acquired Loans Discount | 1,166,000 | 457,000 | 457,000 | ||||
Business Combination, Accretion of Loan Discount | 42,000 | 149,000 | 560,000 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | 590,000 | ||||||
Business Combination, Acquisition Related Costs | $ 0 | $ 0 | $ 157,000 | ||||
WHC [Member] | Core Deposits [Member] | |||||||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 208,000 | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years |
Note 2 - Mergers and Acquisit_4
Note 2 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) | Jan. 01, 2020 | Sep. 30, 2021 | Dec. 31, 2020 |
Goodwill resulting from acquisition | $ 20,798,000 | $ 20,798,000 | |
WHC [Member] | |||
Cash and cash equivalents | $ 11,544,000 | ||
Securities available-for-sale | 43,710,000 | ||
Loans receivable | 43,424,000 | ||
Premises and equipment | 740,000 | ||
Cash surrender value of life insurance | 2,131,000 | ||
Core deposit intangible | 208,000 | ||
Other assets | 1,874,000 | ||
Total assets acquired | 103,631,000 | ||
Deposits | 86,572,000 | ||
Accrued expenses and other liabilities | 4,554,000 | ||
Other borrowings | 2,500,000 | ||
Total liabilities assumed | 93,626,000 | ||
Net assets acquired | 10,005,000 | ||
Cash | 6,500,000 | ||
Common stock issued (395,850 shares) | 8,467,000 | ||
Total consideration paid | 14,967,000 | ||
Goodwill resulting from acquisition | $ 4,962,000 |
Note 2 - Mergers and Acquisit_5
Note 2 - Mergers and Acquisitions - Assets Acquired and Liabilities Assumed (Details) (Parentheticals) | Jan. 01, 2020shares |
WHC [Member] | |
Common stock issued, shares (in shares) | 395,850 |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Pledged Financial Instruments, Not Separately Reported, Securities, Total | $ 22,259,000 | $ 19,716,000 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 25 | 8 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Securities available-for-sale, amortized cost | $ 233,921 | $ 155,005 |
Securities available-for-sale, gross unrealized gains | 6,685 | 7,956 |
Securities available-for-sale, gross unrealized losses | (573) | (15) |
Securities available-for-sale | 240,033 | 162,946 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 1,748 | 2,214 |
Securities available-for-sale, gross unrealized gains | 20 | 31 |
Securities available-for-sale, gross unrealized losses | 0 | 0 |
Securities available-for-sale | 1,768 | 2,245 |
US Treasury and Government [Member] | ||
Securities available-for-sale, amortized cost | 33,148 | 5,153 |
Securities available-for-sale, gross unrealized gains | 615 | 504 |
Securities available-for-sale, gross unrealized losses | (12) | 0 |
Securities available-for-sale | 33,751 | 5,657 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 113,975 | 92,914 |
Securities available-for-sale, gross unrealized gains | 5,000 | 6,175 |
Securities available-for-sale, gross unrealized losses | (114) | (1) |
Securities available-for-sale | 118,861 | 99,088 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 10,558 | 10,579 |
Securities available-for-sale, gross unrealized gains | 158 | 91 |
Securities available-for-sale, gross unrealized losses | 0 | (7) |
Securities available-for-sale | 10,716 | 10,663 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 15,585 | 7,513 |
Securities available-for-sale, gross unrealized gains | 165 | 161 |
Securities available-for-sale, gross unrealized losses | (50) | (5) |
Securities available-for-sale | 15,700 | 7,669 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale, amortized cost | 53,117 | 30,339 |
Securities available-for-sale, gross unrealized gains | 602 | 852 |
Securities available-for-sale, gross unrealized losses | (397) | (2) |
Securities available-for-sale | 53,322 | 31,189 |
Asset-backed Securities [Member] | ||
Securities available-for-sale, amortized cost | 5,790 | 6,293 |
Securities available-for-sale, gross unrealized gains | 125 | 142 |
Securities available-for-sale, gross unrealized losses | 0 | 0 |
Securities available-for-sale | $ 5,915 | $ 6,435 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities - Proceeds From Sale of Available-for-sale Securities and the Associated Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Proceeds from sale of available-for-sale securities | $ 3,910 | $ 0 | $ 3,910 | $ 18,149 |
Gross realized gain on sale of available-for-sale securities | 11 | 0 | 11 | 1,068 |
Gross realized loss on sale of available-for-sale securities | 0 | 0 | 0 | 0 |
Net realized gain on sale of available-for-sale securities | $ 11 | $ 0 | $ 11 | $ 1,068 |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available for sale securities, due in one year or less, amortized cost | $ 3,308 | |
Available for sale securities, due in one year or less, fair value | 3,329 | |
Available for sale securities, due from one to five years, amortized cost | 13,623 | |
Available for sale securities, due from one to five years, fair value | 14,102 | |
Available for sale securities, due from five to ten years, amortized cost | 47,815 | |
Available for sale securities, due from five to ten years, fair value | 48,703 | |
Available for sale securities, due after ten years, amortized cost | 100,473 | |
Available for sale securities, due after ten years, fair value | 104,877 | |
Total available for sale securities debt maturities, amortized cost | 165,219 | |
Total available for sale securities, debt maturities, fair value | 171,011 | |
Securities available-for-sale, amortized cost | 233,921 | $ 155,005 |
Securities available-for-sale | 240,033 | 162,946 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale securities, without single maturity, amortized cost | 15,585 | |
Available for sale securities, without single maturity, fair value | 15,700 | |
Securities available-for-sale, amortized cost | 15,585 | 7,513 |
Securities available-for-sale | 15,700 | 7,669 |
Collateralized Mortgage Obligations [Member] | ||
Available for sale securities, without single maturity, amortized cost | 53,117 | |
Available for sale securities, without single maturity, fair value | 53,322 | |
Securities available-for-sale, amortized cost | 53,117 | 30,339 |
Securities available-for-sale | $ 53,322 | $ 31,189 |
Note 3 - Investment Securitie_6
Note 3 - Investment Securities - Investment Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | $ 53,201 | $ 7,705 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (565) | (10) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 1,413 | 1,501 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | (8) | (5) |
US Treasury and Government [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 10,533 | 0 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (12) | 0 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 0 | 0 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 8,962 | 282 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (114) | (1) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 0 | 0 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | 0 | 0 |
Corporate Debt Securities [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 0 | 4,243 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | 0 | (7) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 0 | 0 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | 0 | 0 |
Mortgage-backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale debt securities, continuous unrealized loss position less than 12 months, fair value | 33,706 | 3,180 |
Available for sale debt securities, continuous unrealized loss position less than 12 months, gross unrealized losses | (439) | (2) |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, fair value | 1,413 | 1,501 |
Available for sale debt securities, continuous unrealized loss position for 12 months or longer, gross unrealized losses | $ (8) | $ (5) |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Loans and Leases Receivable, Gross, Total | $ 887,003,000 | $ 851,073,000 | $ 887,003,000 | $ 851,073,000 | $ 843,141,000 | |
Loans and Leases Receivable, Deferred Income, Total | 2,098,000 | 2,098,000 | 2,038,000 | |||
Interest Received on Past Due Loans, Applied to Principal | 407,000 | 327,000 | ||||
Financing Receivable, Troubled Debt Restructuring | $ 2,116,000 | $ 2,116,000 | $ 1,824,000 | |||
Financing Receivable, Modifications, Number of Contracts | 2 | 0 | 3 | 3 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | ||||
Financing Receivable, Number of Payment Deferrals | 5 | 5 | 40 | |||
Financing Receivable, Principal and Interest Deferred Payments | $ 98,000 | $ 98,000 | $ 28,994,000 | |||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 522,953,000 | $ 432,473,000 | 522,953,000 | $ 432,473,000 | 447,867,000 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 115,000 | 1,633,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 64,824,000 | 64,824,000 | 65,918,000 | |||
Financing Receivable, Troubled Debt Restructuring, Premodification | 391,000 | 391,000 | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan 2 [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring, Premodification | 70,000 | 70,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 78,058,000 | 78,058,000 | 65,281,000 | |||
Financing Receivable, Troubled Debt Restructuring, Premodification | 94,000 | |||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 380,071,000 | 380,071,000 | 316,668,000 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Rural Development [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 10,459,000 | 10,459,000 | 11,084,000 | |||
Commercial Real Estate Portfolio Segment [Member] | United States Department of Agriculture Farm Service Agency [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 5,644,000 | 5,644,000 | 6,533,000 | |||
Commercial Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 149,199,000 | $ 183,611,000 | 149,199,000 | 183,611,000 | 161,451,000 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 53,645,000 | 53,645,000 | 52,242,000 | |||
Financing Receivable, Troubled Debt Restructuring | 1,561,000 | 1,561,000 | 79,000 | |||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 160,000 | |||||
Commercial Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member] | ||||||
Loans and Leases Receivable, Gross, Total | 8,464,000 | 8,464,000 | 29,581,000 | |||
Loans and Leases Receivable, Deferred Income, Total | $ 605,000 | $ 605,000 | $ 613,000 |
Note 4 - Loans Receivable - Sum
Note 4 - Loans Receivable - Summary of Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Loans receivable | $ 887,003 | $ 843,141 | $ 851,073 | |||
Deferred loan fees, net | (2,098) | (2,038) | ||||
Allowance for loan losses | (12,200) | $ (11,900) | (11,600) | (11,300) | $ (10,500) | $ (8,600) |
Total loans, net | 872,705 | 829,503 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans receivable | 142,921 | 157,092 | 152,835 | |||
Allowance for loan losses | (1,570) | (1,544) | (1,506) | (1,461) | (1,369) | (1,301) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable | 522,953 | 447,867 | 432,473 | |||
Allowance for loan losses | (7,288) | (7,127) | (6,951) | (6,721) | (6,096) | (4,826) |
Home Equity Portfolio Segment [Member] | ||||||
Loans receivable | 52,990 | 56,563 | 61,460 | |||
Allowance for loan losses | (530) | (522) | (515) | (504) | (491) | (477) |
Consumer Portfolio Segment [Member] | ||||||
Loans receivable | 18,940 | 20,168 | 20,694 | |||
Allowance for loan losses | (363) | (363) | (364) | (368) | (371) | (284) |
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 149,199 | 161,451 | 183,611 | |||
Allowance for loan losses | $ (2,449) | $ (2,344) | $ (2,264) | $ (2,246) | $ (2,173) | $ (1,712) |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Allowance for loan losses, beginning balance | $ 11,900 | $ 10,500 | $ 11,600 | $ 8,600 | |
Charge-offs | (4) | (81) | (55) | (128) | |
Recoveries | 49 | 27 | 79 | 77 | |
Provision | 255 | 854 | 576 | 2,751 | |
Allowance for loan losses, ending balance | 12,200 | 11,300 | 12,200 | 11,300 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 308 | 296 | 308 | 296 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 11,892 | 11,004 | 11,892 | 11,004 | |
Loans receivable | 887,003 | 851,073 | 887,003 | 851,073 | $ 843,141 |
Loans receivable, ending balance, loans individually evaluated for impairment | 7,773 | 7,522 | 7,773 | 7,522 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 879,230 | 843,551 | 879,230 | 843,551 | |
Residential Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 1,544 | 1,369 | 1,506 | 1,301 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | 26 | 92 | 64 | 160 | |
Allowance for loan losses, ending balance | 1,570 | 1,461 | 1,570 | 1,461 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 199 | 296 | 199 | 296 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 1,371 | 1,165 | 1,371 | 1,165 | |
Loans receivable | 142,921 | 152,835 | 142,921 | 152,835 | 157,092 |
Loans receivable, ending balance, loans individually evaluated for impairment | 1,122 | 1,128 | 1,122 | 1,128 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 141,799 | 151,707 | 141,799 | 151,707 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 7,127 | 6,096 | 6,951 | 4,826 | |
Charge-offs | 0 | 0 | (35) | (18) | |
Recoveries | 6 | 2 | 15 | 10 | |
Provision | 155 | 623 | 357 | 1,903 | |
Allowance for loan losses, ending balance | 7,288 | 6,721 | 7,288 | 6,721 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 7,288 | 6,721 | 7,288 | 6,721 | |
Loans receivable | 522,953 | 432,473 | 522,953 | 432,473 | 447,867 |
Loans receivable, ending balance, loans individually evaluated for impairment | 4,341 | 3,998 | 4,341 | 3,998 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 518,612 | 428,475 | 518,612 | 428,475 | |
Home Equity Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 522 | 491 | 515 | 477 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | 8 | 13 | 15 | 27 | |
Allowance for loan losses, ending balance | 530 | 504 | 530 | 504 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 530 | 504 | 530 | 504 | |
Loans receivable | 52,990 | 61,460 | 52,990 | 61,460 | 56,563 |
Loans receivable, ending balance, loans individually evaluated for impairment | 121 | 115 | 121 | 115 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 52,869 | 61,345 | 52,869 | 61,345 | |
Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 363 | 371 | 364 | 284 | |
Charge-offs | (4) | (14) | (14) | (25) | |
Recoveries | 1 | 2 | 7 | 13 | |
Provision | 3 | 9 | 6 | 96 | |
Allowance for loan losses, ending balance | 363 | 368 | 363 | 368 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 363 | 368 | 363 | 368 | |
Loans receivable | 18,940 | 20,694 | 18,940 | 20,694 | 20,168 |
Loans receivable, ending balance, loans individually evaluated for impairment | 78 | 163 | 78 | 163 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | 18,862 | 20,531 | 18,862 | 20,531 | |
Commercial Portfolio Segment [Member] | |||||
Allowance for loan losses, beginning balance | 2,344 | 2,173 | 2,264 | 1,712 | |
Charge-offs | 0 | (67) | (6) | (85) | |
Recoveries | 42 | 23 | 57 | 54 | |
Provision | 63 | 117 | 134 | 565 | |
Allowance for loan losses, ending balance | 2,449 | 2,246 | 2,449 | 2,246 | |
Allowance for loan losses, ending balance, allocated to loans individually evaluated for impairment | 109 | 0 | 109 | 0 | |
Allowance for loan losses, ending balance, allocated to loans collectively evaluated for impairment | 2,340 | 2,246 | 2,340 | 2,246 | |
Loans receivable | 149,199 | 183,611 | 149,199 | 183,611 | $ 161,451 |
Loans receivable, ending balance, loans individually evaluated for impairment | 2,111 | 2,118 | 2,111 | 2,118 | |
Loans receivable, ending balance, loans collectively evaluated for impairment | $ 147,088 | $ 181,493 | $ 147,088 | $ 181,493 |
Note 4 - Loans Receivable - Int
Note 4 - Loans Receivable - Internal Classification of the Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Loans receivable | $ 887,003 | $ 843,141 | $ 851,073 |
Residential Portfolio Segment [Member] | |||
Loans receivable | 142,921 | 157,092 | 152,835 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 99,447 | 110,802 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 43,474 | 46,290 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 522,953 | 447,867 | 432,473 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 380,071 | 316,668 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 78,058 | 65,281 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 64,824 | 65,918 | |
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 52,990 | 56,563 | 61,460 |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 18,940 | 20,168 | 20,694 |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 149,199 | 161,451 | $ 183,611 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 95,554 | 109,209 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 53,645 | 52,242 | |
Pass [Member] | |||
Loans receivable | 874,032 | 830,626 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 98,560 | 109,746 | |
Pass [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 43,137 | 45,953 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 374,699 | 311,756 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 78,058 | 65,231 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 62,410 | 63,565 | |
Pass [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 52,559 | 56,177 | |
Pass [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 18,861 | 20,017 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 94,057 | 107,810 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 51,691 | 50,371 | |
Special Mention [Member] | |||
Loans receivable | 5,300 | 4,176 | |
Special Mention [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 219 | 0 | |
Special Mention [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 3,200 | 2,568 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 14 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 276 | 136 | |
Special Mention [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 264 | 274 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 954 | 829 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 387 | 355 | |
Substandard [Member] | |||
Loans receivable | 7,370 | 7,966 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 469 | 857 | |
Substandard [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 337 | 337 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 2,172 | 2,344 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 36 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 2,091 | 2,164 | |
Substandard [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 167 | 112 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 79 | 151 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 543 | 570 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 1,512 | 1,395 | |
Doubtful [Member] | |||
Loans receivable | 301 | 373 | |
Doubtful [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 199 | 199 | |
Doubtful [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 47 | 53 | |
Doubtful [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 0 | 0 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 55 | 121 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Home Equity Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Consumer Portfolio Segment [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 0 | 0 | |
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | $ 0 | $ 0 |
Note 4 - Loans Receivable - Del
Note 4 - Loans Receivable - Delinquencies Within the Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Loans receivable | $ 887,003 | $ 843,141 | $ 851,073 |
Non-accrual Loans | 6,133 | 6,274 | |
Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 379 | 2,748 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 34 | 392 | |
Financial Asset, Past Due [Member] | |||
Loans receivable | 413 | 3,140 | |
Financial Asset, Not Past Due [Member] | |||
Loans receivable | 880,457 | 833,727 | |
Residential Portfolio Segment [Member] | |||
Loans receivable | 142,921 | 157,092 | 152,835 |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||
Loans receivable | 99,447 | 110,802 | |
Non-accrual Loans | 785 | 684 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 2 | 693 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 34 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 2 | 727 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 98,660 | 109,391 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||
Loans receivable | 43,474 | 46,290 | |
Non-accrual Loans | 337 | 337 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 0 | 853 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 170 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 0 | 1,023 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 43,137 | 44,930 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans receivable | 522,953 | 447,867 | 432,473 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||
Loans receivable | 380,071 | 316,668 | |
Non-accrual Loans | 507 | 631 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 241 | 274 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 241 | 274 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 379,323 | 315,763 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans receivable | 78,058 | 65,281 | |
Non-accrual Loans | 0 | 36 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 78,058 | 65,245 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Loans receivable | 64,824 | 65,918 | |
Non-accrual Loans | 2,273 | 2,245 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 38 | 179 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 38 | 179 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 62,513 | 63,494 | |
Home Equity Portfolio Segment [Member] | |||
Loans receivable | 52,990 | 56,563 | 61,460 |
Non-accrual Loans | 121 | 111 | |
Home Equity Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 0 | 53 | |
Home Equity Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Home Equity Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 0 | 53 | |
Home Equity Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 52,869 | 56,399 | |
Consumer Portfolio Segment [Member] | |||
Loans receivable | 18,940 | 20,168 | 20,694 |
Non-accrual Loans | 78 | 151 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 67 | 72 | |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 0 | |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 67 | 72 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 18,795 | 19,945 | |
Commercial Portfolio Segment [Member] | |||
Loans receivable | 149,199 | 161,451 | $ 183,611 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans receivable | 95,554 | 109,209 | |
Non-accrual Loans | 534 | 537 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 31 | 553 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 34 | 6 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 65 | 559 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | 94,955 | 108,113 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||
Loans receivable | 53,645 | 52,242 | |
Non-accrual Loans | 1,498 | 1,542 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||
Loans receivable | 0 | 71 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Loans receivable | 0 | 182 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financial Asset, Past Due [Member] | |||
Loans receivable | 0 | 253 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Loans receivable | $ 52,147 | $ 50,447 |
Note 4 - Loans Receivable - Imp
Note 4 - Loans Receivable - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Recorded investment | $ 7,773 | $ 7,773 | $ 8,601 | ||
Unpaid principal balance | 8,760 | 8,760 | 9,533 | ||
Related allowance | 308 | 308 | 350 | ||
Average recorded investment | 7,522 | $ 7,692 | 8,187 | $ 5,582 | |
Residential Portfolio Segment [Member] | One-to-Four Family Loans [Member] | |||||
Recorded investment | 785 | 785 | 1,204 | ||
Unpaid principal balance | 867 | 867 | 1,267 | ||
Related allowance | 199 | 199 | 296 | ||
Average recorded investment | 715 | 860 | 994 | 704 | |
Residential Portfolio Segment [Member] | One-to-Four Family Construction [Member] | |||||
Recorded investment | 337 | 337 | 337 | ||
Unpaid principal balance | 387 | 387 | 387 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 337 | 337 | 337 | 337 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Loan [Member] | |||||
Recorded investment | 2,068 | 2,068 | 2,264 | ||
Unpaid principal balance | 2,116 | 2,116 | 2,328 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 2,239 | 2,561 | 2,166 | 1,565 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Recorded investment | 0 | 0 | 50 | ||
Unpaid principal balance | 0 | 0 | 50 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 0 | 54 | 25 | 32 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||||
Recorded investment | 2,273 | 2,273 | 2,245 | ||
Unpaid principal balance | 2,333 | 2,333 | 2,262 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 2,125 | 1,345 | 2,259 | 956 | |
Home Equity Portfolio Segment [Member] | |||||
Recorded investment | 121 | 121 | 111 | ||
Unpaid principal balance | 150 | 150 | 136 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 126 | 153 | 116 | 107 | |
Consumer Portfolio Segment [Member] | |||||
Recorded investment | 78 | 78 | 151 | ||
Unpaid principal balance | 87 | 87 | 171 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 78 | 181 | 114 | 160 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Recorded investment | 534 | 534 | 537 | ||
Unpaid principal balance | 658 | 658 | 664 | ||
Related allowance | 0 | 0 | 0 | ||
Average recorded investment | 536 | 731 | 536 | 746 | |
Commercial Portfolio Segment [Member] | Agricultural Loan [Member] | |||||
Recorded investment | 1,577 | 1,577 | 1,702 | ||
Unpaid principal balance | 2,162 | 2,162 | 2,268 | ||
Related allowance | 109 | 109 | $ 54 | ||
Average recorded investment | $ 1,366 | $ 1,470 | $ 1,640 | $ 975 |
Note 5 - Mortgage Servicing R_3
Note 5 - Mortgage Servicing Rights (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Loans Serviced During the Period | $ 1,748,096,000 | $ 1,473,971,000 | |||
Fees and Commissions, Mortgage Banking and Servicing | $ 1,060,000 | $ 815,000 | 2,984,000 | $ 2,320,000 | |
Escrow Deposit | 20,947,000 | 20,947,000 | 15,853,000 | ||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | (14,000) | $ (338,000) | (702,000) | $ 878,000 | |
Mortgage Servicing Rights Measured at Fair Value | $ 13,666,000 | $ 13,666,000 | $ 10,105,000 |
Note 5 - Mortgage Servicing R_4
Note 5 - Mortgage Servicing Rights - Schedule of Activity in Mortgage Servicing Rights (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Mortgage servicing rights, net | $ 12,941 | $ 12,941 | $ 10,105 | ||
Mortgage Servicing Rights [Member] | |||||
Beginning balance | 12,232 | $ 9,550 | 10,897 | $ 8,739 | |
Mortgage servicing rights capitalized | 1,662 | 1,700 | 5,015 | 4,133 | |
Amortization of mortgage servicing rights | (863) | (854) | (2,881) | (2,476) | |
Ending balance | 13,031 | 10,396 | 13,031 | 10,396 | |
Beginning balance | (104) | (1,216) | (792) | 0 | |
Recovery of mortgage servicing rights | 14 | 338 | 702 | (878) | |
Ending balance | (90) | (878) | (90) | (878) | |
Mortgage servicing rights, net | $ 12,941 | $ 9,518 | $ 12,941 | $ 9,518 |
Note 5 - Mortgage Servicing R_5
Note 5 - Mortgage Servicing Rights - Fair Value of Servicing Rights (Details) - Mortgage Servicing Rights [Member] | Sep. 30, 2021 | Dec. 31, 2020 |
Measurement Input, Discount Rate [Member] | ||
Valuation assumptions | 0.12 | 0.12 |
Measurement Input, Prepayment Rate [Member] | Minimum [Member] | ||
Valuation assumptions | 1.92 | 2.21 |
Measurement Input, Prepayment Rate [Member] | Maximum [Member] | ||
Valuation assumptions | 2.72 | 3.28 |
Measurement Input, Weighted Average Prepayment Rate [Member] | ||
Valuation assumptions | 2.14 | 2.81 |
Note 6 - Deposits (Details Text
Note 6 - Deposits (Details Textual) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Time Deposits, Total | $ 153,531,000 | $ 171,805,000 |
Brokered Deposits [Member] | ||
Time Deposits, Total | $ 0 | $ 495,000 |
Note 6 - Deposits - Summary of
Note 6 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Noninterest checking | $ 367,127 | $ 318,389 |
Interest-bearing checking | 198,130 | 160,614 |
Savings | 213,895 | 179,868 |
Money market | 261,866 | 202,407 |
Time certificates of deposit | 153,531 | 171,805 |
Total deposits | $ 1,194,549 | $ 1,033,083 |
Note 7 - Other Long-term Debt_2
Note 7 - Other Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 30, 2020 | Feb. 28, 2017 | Jun. 30, 2015 | Dec. 31, 2010 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2005 | |
Debt Instrument, Face Amount | $ 30,155,000 | $ 30,155,000 | |||||
First Tennessee Bank, N.A. [Member] | |||||||
Temporary Equity, Liquidation Preference | $ 5,155,000 | ||||||
Trust Preferred Securities, Maximum Dividend Deferring Period (Year) | 5 years | ||||||
Eagle Bancorp Statutory Trust I [Member] | Subordinated Debt [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.02% | ||||||
Eagle Bancorp Statutory Trust I [Member] | Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.55% | 1.66% | |||||
London Interbank Offered Rate (LIBOR) [Member] | Eagle Bancorp Statutory Trust I [Member] | Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.42% | ||||||
5.50% Subordinated Notes Due in 2030 [Member] | |||||||
Debt Instrument, Face Amount | $ 15,000,000 | $ 15,000,000 | $ 15,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | |||||
Debt Instrument, Maturity Year | 2030 | ||||||
5.50% Subordinated Notes Due in 2030 [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 5.09% | ||||||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | |||||||
Debt Instrument, Face Amount | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | 5.75% | ||||
Debt Instrument, Maturity Year | 2022 | 2022 | 2022 | ||||
6.75% Subordinated Notes Due in 2025 [Member] | |||||||
Debt Instrument, Face Amount | $ 10,000,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.75% | ||||||
Debt Instrument, Maturity Year | 2025 | ||||||
Eagle Bancorp Statutory Trust I [Member] | |||||||
Subordinated Debt, Ending Balance | $ 5,155,000 |
Note 7 - Other Long-term Debt -
Note 7 - Other Long-term Debt - Summary of Other Long-term Debt (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Feb. 28, 2017 |
Principal amount | $ 30,155,000 | $ 30,155,000 | ||
Unamortized debt issuance costs | (305,000) | (364,000) | ||
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Principal amount | 10,000,000 | 10,000,000 | $ 10,000,000 | |
Unamortized debt issuance costs | (15,000) | (48,000) | ||
5.50% Subordinated Notes Due in 2030 [Member] | ||||
Principal amount | 15,000,000 | 15,000,000 | $ 15,000,000 | |
Unamortized debt issuance costs | (290,000) | (316,000) | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Principal amount | 5,155,000 | 5,155,000 | ||
Unamortized debt issuance costs | $ 0 | $ 0 |
Note 7 - Other Long-term Debt_3
Note 7 - Other Long-term Debt - Summary of Other Long-term Debt (Details) (Parentheticals) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Feb. 28, 2017 | Sep. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | |
5.75% Senior Unsecured Notes Due February 15, 2022 [Member] | ||||
Debt instrument, fixed interest rate | 5.75% | 5.75% | 5.75% | |
Debt instrument, maturity year | 2022 | 2022 | 2022 | |
5.50% Subordinated Notes Due in 2030 [Member] | ||||
Debt instrument, fixed interest rate | 5.50% | 5.50% | ||
Debt instrument, maturity year | 2030 | |||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | ||||
Debt instrument, maturity year | 2035 | 2035 | ||
Variable Interest Rate Subordinated Debentures Due in 2035 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt instrument, interest rate at 3-month LIBOR | 1.42% | 1.42% |
Note 8 - Accumulated Other Co_3
Note 8 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 152,744 | $ 141,529 | $ 152,938 | $ 121,659 |
Balance | 156,523 | 147,363 | 156,523 | 147,363 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Balance | 4,938 | 4,086 | 5,851 | 1,329 |
Other comprehensive income (loss), before reclassifications and income taxes | (578) | 1,263 | (1,818) | 6,074 |
Amounts reclassified from accumulated other comprehensive income, before income taxes | (11) | 0 | (11) | (1,068) |
Income tax provision (benefit) | 155 | (332) | 482 | (1,318) |
Total other comprehensive income (loss) | (434) | 931 | (1,347) | 3,688 |
Balance | $ 4,504 | $ 5,017 | $ 4,504 | $ 5,017 |
Note 9 - Earnings Per Share (De
Note 9 - Earnings Per Share (Details Textual) - shares shares in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 0 |
Note 9 - Earnings Per Share - C
Note 9 - Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Basic weighted average shares outstanding (in shares) | 6,525,509 | 6,776,417 | 6,691,256 | 6,804,495 |
Dilutive effect of stock compensation (in shares) | 18,535 | 37,322 | 18,120 | 29,434 |
Diluted weighted average shares outstanding (in shares) | 6,544,044 | 6,813,739 | 6,709,376 | 6,833,929 |
Net income available to common shareholders | $ 4,746 | $ 6,380 | $ 12,692 | $ 16,042 |
Basic earnings per share (in dollars per share) | $ 0.73 | $ 0.94 | $ 1.90 | $ 2.36 |
Diluted earnings per share (in dollars per share) | $ 0.73 | $ 0.94 | $ 1.89 | $ 2.35 |
Note 10 - Derivatives and Hed_3
Note 10 - Derivatives and Hedging Activities (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Unrealized Gain (Loss) on Derivatives | $ 373,000 | $ 2,961,000 | $ (1,953,000) | $ 6,363,000 |
Note 10 - Derivatives and Hed_4
Note 10 - Derivatives and Hedging Activities - Derivatives (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Interest Rate Lock Commitments [Member] | ||
Notional amount | $ 125,318 | $ 227,977 |
Fair value, asset | 2,328 | 6,017 |
Fair value, liability | 0 | 0 |
Interest Rate Forward Commitments [Member] | ||
Notional amount | 101,000 | 180,000 |
Fair value, asset | 680 | 0 |
Fair value, liability | $ 0 | $ 1,056 |
Note 11 - Fair Value of Finan_3
Note 11 - Fair Value of Financial Instruments - Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-sale securities | $ 240,033 | $ 162,946 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 1,768 | 2,245 |
US Treasury and Government [Member] | ||
Available-for-sale securities | 33,751 | 5,657 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 118,861 | 99,088 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | 10,716 | 10,663 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 15,700 | 7,669 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 53,322 | 31,189 |
Asset-backed Securities [Member] | ||
Available-for-sale securities | 5,915 | 6,435 |
Fair Value, Recurring [Member] | ||
Loans held-for-sale | 42,059 | 54,615 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 1,768 | 2,245 |
Fair Value, Recurring [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 33,751 | 5,657 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 118,861 | 99,088 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 10,716 | 10,663 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 15,700 | 7,669 |
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 53,322 | 31,189 |
Fair Value, Recurring [Member] | Asset-backed Securities [Member] | ||
Available-for-sale securities | 5,915 | 6,435 |
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member] | ||
Interest rate lock commitments | 2,328 | 6,017 |
Fair Value, Recurring [Member] | Forward TBA Mortgage-backed Securities [Member] | ||
Derivative liabilities | 680 | 1,056 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 33,751 | 5,657 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Lock Commitments [Member] | ||
Interest rate lock commitments | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Forward TBA Mortgage-backed Securities [Member] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held-for-sale | 42,059 | 54,615 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 1,768 | 2,245 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 118,861 | 99,088 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 10,716 | 10,663 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 15,700 | 7,669 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 53,322 | 31,189 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ||
Available-for-sale securities | 5,915 | 6,435 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Lock Commitments [Member] | ||
Interest rate lock commitments | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Forward TBA Mortgage-backed Securities [Member] | ||
Derivative liabilities | 680 | 1,056 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Lock Commitments [Member] | ||
Interest rate lock commitments | 2,328 | 6,017 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Forward TBA Mortgage-backed Securities [Member] | ||
Derivative liabilities | $ 0 | $ 0 |
Note 11 - Fair Value of Finan_4
Note 11 - Fair Value of Financial Instruments - Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Impaired loans | $ 71 | $ 728 |
Real estate and other repossessed assets | 117 | 0 |
Mortgage servicing rights | 13,666 | 10,105 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Real estate and other repossessed assets | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Real estate and other repossessed assets | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 71 | 728 |
Real estate and other repossessed assets | 117 | 0 |
Mortgage servicing rights | $ 13,666 | $ 10,105 |
Note 11 - Fair Value of Finan_5
Note 11 - Fair Value of Financial Instruments - Financial Assets and Liabilities, Valuation Techniques and Significant Unobservable Inputs (Details) | Sep. 30, 2021 |
Measurement Input, Discount Rate [Member] | Valuation, Market Approach [Member] | Minimum [Member] | |
Impaired loans, input | 0.10 |
Real estate and other repossessed assets | 0.10 |
Measurement Input, Discount Rate [Member] | Valuation, Market Approach [Member] | Maximum [Member] | |
Impaired loans, input | 0.30 |
Real estate and other repossessed assets | 0.30 |
Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |
Mortgage servicing rights, input | 0.10 |
Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |
Mortgage servicing rights, input | 0.15 |
Measurement Input, Prepayment Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |
Mortgage servicing rights, input | 1.80 |
Measurement Input, Prepayment Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |
Mortgage servicing rights, input | 3.30 |
Measurement Input, Pull-through Expectations [Member] | Valuation, Income Approach [Member] | Minimum [Member] | |
Interest rate lock commitments, input | 0.85 |
Measurement Input, Pull-through Expectations [Member] | Valuation, Income Approach [Member] | Maximum [Member] | |
Interest rate lock commitments, input | 0.95 |
Note 11 - Fair Value of Finan_6
Note 11 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs on Recurring Basis (Details) - Interest Rate Lock Commitments [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Beginning balance | $ 2,949 | $ 5,501 | $ 6,017 | $ 554 |
Purchases and issuances | (5,710) | 8,360 | (17,596) | 21,061 |
Sales and settlements | 5,089 | (6,713) | 13,907 | (14,467) |
Ending balance | 2,328 | 7,148 | 2,328 | 7,148 |
Net change in unrealized gains relating to items held at end of period | $ (621) | $ 1,647 | $ (3,689) | $ 6,594 |
Note 11 - Fair Value of Finan_7
Note 11 - Fair Value of Financial Instruments - Estimated Fair Value and Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | $ 94,940 | $ 69,802 |
FHLB stock | 1,702 | 2,060 |
FRB stock | 2,974 | 2,974 |
Loans receivable, gross | 892,161 | 847,579 |
Accrued interest and dividends receivable | 6,218 | 5,765 |
Mortgage servicing rights | 13,666 | 10,105 |
Non-maturing interest-bearing deposits | 673,891 | 542,889 |
Noninterest-bearing deposits | 367,127 | 318,389 |
Time certificates of deposit | 153,823 | 172,561 |
Accrued expenses and other liabilities | 19,745 | 23,239 |
FHLB advances and other borrowings | 5,023 | 17,217 |
Other long-term debt | 29,371 | 29,414 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 94,940 | 69,802 |
FHLB stock | 1,702 | 2,060 |
FRB stock | 2,974 | 2,974 |
Loans receivable, gross | 884,905 | 841,103 |
Accrued interest and dividends receivable | 6,218 | 5,765 |
Mortgage servicing rights | 12,941 | 10,105 |
Non-maturing interest-bearing deposits | 673,891 | 542,889 |
Noninterest-bearing deposits | 367,127 | 318,389 |
Time certificates of deposit | 153,531 | 171,805 |
Accrued expenses and other liabilities | 19,745 | 23,239 |
FHLB advances and other borrowings | 5,000 | 17,070 |
Other long-term debt | 30,155 | 30,155 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 94,940 | 69,802 |
FHLB stock | 1,702 | 2,060 |
FRB stock | 2,974 | 2,974 |
Loans receivable, gross | 0 | 0 |
Accrued interest and dividends receivable | 6,218 | 5,765 |
Mortgage servicing rights | 0 | 0 |
Non-maturing interest-bearing deposits | 0 | 0 |
Noninterest-bearing deposits | 367,127 | 318,389 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 19,745 | 23,239 |
FHLB advances and other borrowings | 0 | 0 |
Other long-term debt | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 0 | 0 |
FHLB stock | 0 | 0 |
FRB stock | 0 | 0 |
Loans receivable, gross | 0 | 0 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Non-maturing interest-bearing deposits | 673,891 | 542,889 |
Noninterest-bearing deposits | 0 | 0 |
Time certificates of deposit | 0 | 0 |
Accrued expenses and other liabilities | 0 | 0 |
FHLB advances and other borrowings | 0 | 0 |
Other long-term debt | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 0 | 0 |
FHLB stock | 0 | 0 |
FRB stock | 0 | 0 |
Loans receivable, gross | 892,161 | 847,579 |
Accrued interest and dividends receivable | 0 | 0 |
Mortgage servicing rights | 13,666 | 10,105 |
Non-maturing interest-bearing deposits | 0 | 0 |
Noninterest-bearing deposits | 0 | 0 |
Time certificates of deposit | 153,823 | 172,561 |
Accrued expenses and other liabilities | 0 | 0 |
FHLB advances and other borrowings | 5,023 | 17,217 |
Other long-term debt | $ 29,371 | $ 29,414 |