Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | HMN FINANCIAL INC | |
Entity Central Index Key | 0000921183 | |
Trading Symbol | hmnf | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 4,732,575 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 115,391 | $ 86,269 |
Securities available for sale | 179,278 | 148,090 |
Loans held for sale | 7,256 | 6,186 |
Loans receivable, net | 641,787 | 642,630 |
Accrued interest receivable | 2,374 | 3,102 |
Mortgage servicing rights, net | 3,114 | 3,043 |
Premises and equipment, net | 9,945 | 10,133 |
Goodwill | 802 | 802 |
Core deposit intangible | 32 | 57 |
Prepaid expenses and other assets | 8,819 | 7,241 |
Deferred tax asset, net | 2,507 | 2,027 |
Total assets | 971,305 | 909,580 |
Liabilities and Stockholders’ Equity | ||
Deposits | 855,478 | 795,204 |
Accrued interest payable | 145 | 140 |
Customer escrows | 2,971 | 1,998 |
Accrued expenses and other liabilities | 7,647 | 8,986 |
Total liabilities | 866,241 | 806,328 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Serial-preferred stock ($.01 par value): authorized 500,000 shares; issued 0 | 0 | 0 |
Common stock ($.01 par value): authorized 16,000,000 shares; issued 9,128,662 | 91 | 91 |
Additional paid-in capital | 40,405 | 40,480 |
Retained earnings, subject to certain restrictions | 121,267 | 117,849 |
Accumulated other comprehensive income | 41 | 1,282 |
Unearned employee stock ownership plan shares | (1,401) | (1,450) |
Treasury stock, at cost 4,377,829 and 4,359,552 shares | (55,339) | (55,000) |
Total stockholders’ equity | 105,064 | 103,252 |
Total liabilities and stockholders’ equity | 971,305 | 909,580 |
Collateralized Mortgage Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 133,505 | 101,464 |
Other Debt Obligations [Member] | ||
Assets | ||
Securities available for sale | $ 45,773 | $ 46,626 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Securities available for sale, amortized cost | $ 179,220 | $ 146,312 |
Serial-preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Serial-preferred stock, shares authorized (in shares) | 500,000 | 500,000 |
Serial-preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 16,000,000 | 16,000,000 |
Common stock, shares issued (in shares) | 9,128,662 | 9,128,662 |
Treasury stock, shares (in shares) | 4,377,829 | 4,359,552 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | $ 133,434 | $ 99,821 |
Other Debt Obligations [Member] | ||
Securities available for sale, amortized cost | $ 45,786 | $ 46,491 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest income: | ||
Loans receivable | $ 7,360 | $ 7,240 |
Securities available for sale: | ||
Mortgage-backed and related | 391 | 289 |
Other marketable | 107 | 212 |
Other | 31 | 103 |
Total interest income | 7,889 | 7,844 |
Interest expense: | ||
Deposits | 453 | 892 |
Total interest expense | 453 | 892 |
Net interest income | 7,436 | 6,952 |
Provision for loan losses | (576) | 460 |
Net interest income after provision for loan losses | 8,012 | 6,492 |
Non-interest income: | ||
Gain on sales of loans | 1,773 | 1,134 |
Other | 348 | 291 |
Total non-interest income | 3,255 | 2,471 |
Non-interest expense: | ||
Compensation and benefits | 3,821 | 4,047 |
Occupancy and equipment | 1,107 | 1,123 |
Data processing | 347 | 308 |
Professional services | 203 | 487 |
Other | 1,001 | 1,036 |
Total non-interest expense | 6,479 | 7,001 |
Income before income tax expense | 4,788 | 1,962 |
Income tax expense | 1,370 | 577 |
Net income | 3,418 | 1,385 |
Other comprehensive (loss) income, net of tax | (1,241) | 1,275 |
Comprehensive income available to common stockholders | $ 2,177 | $ 2,660 |
Basic earnings per share (in dollars per share) | $ 0.75 | $ 0.30 |
Diluted earnings per share (in dollars per share) | $ 0.74 | $ 0.30 |
Financial Service [Member] | ||
Non-interest income: | ||
Revenue from Contract with Customer | $ 739 | $ 714 |
Bank Servicing [Member] | ||
Non-interest income: | ||
Revenue from Contract with Customer | $ 395 | $ 332 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Unearned Employee Stock Ownership Plan Shares [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2019 | $ 91 | $ 40,365 | $ 107,547 | $ 46 | $ (1,643) | $ (53,758) | $ 92,648 |
Net income | 1,385 | 1,385 | |||||
Other comprehensive income (loss), net of tax | 1,275 | 1,275 | |||||
Stock repurchases | (360) | (360) | |||||
Restricted stock awards | (117) | 117 | 0 | ||||
Amortization of restricted stock awards | 46 | 46 | |||||
Earned employee stock ownership plan shares | 53 | 48 | 101 | ||||
Stock awards withheld for tax withholding | (60) | (60) | |||||
Balance at Mar. 31, 2020 | 91 | 40,347 | 108,932 | 1,321 | (1,595) | (54,061) | 95,035 |
Balance at Dec. 31, 2020 | 91 | 40,480 | 117,849 | 1,282 | (1,450) | (55,000) | 103,252 |
Net income | 3,418 | 3,418 | |||||
Other comprehensive income (loss), net of tax | (1,241) | (1,241) | |||||
Stock repurchases | 0 | (523) | (523) | ||||
Restricted stock awards | (184) | 184 | 0 | ||||
Amortization of restricted stock awards | 60 | 60 | |||||
Earned employee stock ownership plan shares | 49 | 49 | 98 | ||||
Balance at Mar. 31, 2021 | $ 91 | $ 40,405 | $ 121,267 | $ 41 | $ (1,401) | $ (55,339) | $ 105,064 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 3,418 | $ 1,385 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Provision for loan losses | (576) | 460 |
Depreciation | 254 | 291 |
Amortization of premiums, net | 181 | 16 |
Amortization of deferred loan (fees) costs | (625) | 2 |
Amortization of core deposit intangible | 300 | 300 |
Amortization of purchased loan fair value adjustments | (5) | (4) |
Amortization of mortgage servicing rights | 297 | 228 |
Capitalized mortgage servicing rights | (368) | (262) |
Securities (gains) losses, net | (53) | 57 |
Loss on sales of real estate | 0 | 2 |
Gain on sales of loans | (1,773) | (1,134) |
Proceeds from sale of loans held for sale | 50,040 | 29,514 |
Disbursements on loans held for sale | (46,156) | (29,133) |
Amortization of restricted stock awards | 60 | 46 |
Amortization of unearned Employee Stock Ownership Plan shares | 49 | 48 |
Earned Employee Stock Ownership Plan shares priced above original cost | 49 | 53 |
Decrease in accrued interest receivable | 728 | 15 |
Increase (decrease) in accrued interest payable | 5 | (76) |
(Increase) decrease in other assets | (1,586) | 505 |
(Decrease) increase in other liabilities | (1,295) | 30 |
Other, net | 2 | 0 |
Net cash provided by operating activities | 2,671 | 2,068 |
Cash flows from investing activities: | ||
Principal collected on securities available for sale | 7,498 | 2,633 |
Proceeds collected on maturities of securities available for sale | 25,682 | 25,875 |
Purchases of securities available for sale | (66,268) | (20,102) |
Purchase of Federal Home Loan Bank stock | (159) | (79) |
Proceeds from sales of real estate owned | 0 | 34 |
Net increase in loans receivable | (960) | (22,818) |
Purchases of premises and equipment | (66) | (202) |
Net cash used by investing activities | (34,273) | (14,659) |
Cash flows from financing activities: | ||
Increase in deposits | 60,274 | 3,649 |
Purchase of treasury stock | (523) | (360) |
Stock awards withheld for tax withholding | 0 | (60) |
Increase in customer escrows | 973 | 707 |
Net cash provided by financing activities | 60,724 | 3,936 |
Increase (decrease) in cash and cash equivalents | 29,122 | (8,655) |
Cash and cash equivalents, beginning of period | 86,269 | 44,399 |
Cash and cash equivalents, end of period | 115,391 | 35,744 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | 448 | 968 |
Cash paid for income taxes | 1,921 | 0 |
Supplemental noncash flow disclosures: | ||
Loans transferred to loans held for sale | 3,008 | 969 |
Transfer of loans to real estate | 0 | 139 |
Core Deposits [Member] | ||
Adjustments to reconcile net income to cash provided by operating activities: | ||
Amortization of core deposit intangible | $ 25 | $ 25 |
Note 1 - HMN Financial, Inc.
Note 1 - HMN Financial, Inc. | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ( 1 HMN Financial, Inc. HMN Financial, Inc. (HMN or the Company) is a stock savings bank holding company that owns 100 two The consolidated financial statements included herein are for HMN, the Bank, OIA and HPH. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Note 2 - Basis of Preparation
Note 2 - Basis of Preparation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | ( 2 Basis of Preparation The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10 not three March 31, 2021 not may |
Note 3 - New Accounting Standar
Note 3 - New Accounting Standards | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | ( 3 New Accounting Standards In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 not December 15, 2019, On November 26, 2019, 2019 11, Codification Improvements to Topic 326, Credit Losses 2016 13 first 2020 first 2023. may December 15, 2018, not first 2023. On February 6, 2020, 2020 02, Financial Instruments-Credit Losses (Topic 326 842 No. 119 No. 2016 02, 842 Leases (Topic 842 not 326 326. 326 first 2023. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 4 Fair Value Measurements ASC 820, Fair Value Measurements three Level 1 Level 2 not Level 3 not not The following table summarizes the assets and liabilities of the Company for which fair values are determined on a recurring basis as of March 31, 2021 December 31, 2020. Carrying Value at March 31, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 179,278 0 179,278 0 Equity securities 201 0 201 0 Mortgage loan commitments (27 ) 0 (27 ) 0 Total $ 179,452 0 179,452 0 Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 148,090 0 148,090 0 Equity securities 149 0 149 0 Mortgage loan commitments 261 0 261 0 Total $ 148,500 0 148,500 0 The Company may March 31, 2021 December 31, 2020. Carrying Value at March 31, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Three Months Ended March 31, 2021 Total Losses Loans held for sale $ 7,256 0 7,256 0 (113 ) Mortgage servicing rights, net 3,114 0 3,114 0 0 Impaired loans 2,752 0 2,752 0 (5 ) Real estate, net 666 0 666 0 0 Total $ 13,788 0 13,788 0 (118 ) Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Year Ended December 31, 2020 Total Gains (Losses) Loans held for sale $ 6,186 0 6,186 0 28 Mortgage servicing rights, net 3,043 0 3,043 0 0 Impaired loans 2,888 0 2,888 0 (76 ) Real estate, net 636 0 636 0 0 Total $ 12,753 0 12,753 0 (48 ) |
Note 5 - Fair Value of Financia
Note 5 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | ( 5 Fair Value of Financial Instruments ASC 825, Disclosures about Fair Values of Financial Instruments March 31, 2021 December 31, 2020 no The estimated fair value of the Company's financial instruments as of March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Fair Value Hierarchy Fair Value Hierarchy (Dollars in thousands) Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Amount Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Amount Financial assets: Cash and cash equivalents $ 115,391 115,391 115,391 86,269 86,269 86,269 Securities available for sale 179,278 179,278 179,278 148,090 148,090 148,090 Equity securities 201 201 201 149 149 149 Loans held for sale 7,256 7,256 7,256 6,186 6,186 6,186 Loans receivable, net 641,787 646,961 646,961 642,630 648,275 648,275 Federal Home Loan Bank stock 1,092 1,092 1,092 932 932 932 Accrued interest receivable 2,374 2,374 2,374 3,102 3,102 3,102 Financial liabilities: Deposits 855,478 855,955 855,955 795,204 795,927 795,927 Accrued interest payable 145 145 145 140 140 140 Off-balance sheet financial instruments: Commitments to extend credit (27 ) (27 ) 199,178 261 261 180,330 Commitments to sell loans 69 69 27,496 (44 ) (44 ) 24,746 Cash and Cash Equivalents The carrying amount of cash and cash equivalents approximates their fair value. Securities Available for Sale The fair values of securities were based upon quoted market prices. Equity Securities The fair values of equity securities were based upon quoted market prices. Loans Held for Sale The fair values of loans held for sale were based upon quoted market prices for loans with similar interest rates and terms to maturity. Loans Receivable The fair value of the loan portfolio, with the exception of the adjustable rate portfolio, was calculated by discounting the scheduled cash flows through the estimated maturity using anticipated prepayment speeds and using discount rates that reflect the credit and interest rate risk inherent in each loan portfolio. The fair value of the adjustable loan portfolio was estimated by grouping the loans with similar characteristics and comparing the characteristics of each group to the prices quoted for similar types of loans in the secondary market. The fair value disclosures for both the fixed and adjustable rate portfolios were adjusted to reflect the exit price amount anticipated to be received from the sale of the portfolio in an open market transaction. FHLB Stock The carrying amount of FHLB stock approximates its fair value. Accrued Interest Receivable The carrying amount of accrued interest receivable approximates its fair value since it is short-term in nature and does not Deposits The fair value of demand deposits, savings accounts and certain money market account deposits is the amount payable on demand at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. The fair value disclosures for all of the deposits were adjusted to reflect the exit price amount anticipated to be received from the sale of the deposits in an open market transaction . Accrued Interest Payable The carrying amount of accrued interest payable approximates its fair value since it is short-term in nature. Commitments to Extend Credit The fair values of commitments to extend credit are estimated using the fees normally charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counter parties. Commitments to Sell Loans The fair values of commitments to sell loans are estimated using the quoted market prices for loans with similar interest rates and terms to maturity. |
Note 6 - Other Comprehensive (L
Note 6 - Other Comprehensive (Loss) Income | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 6 Other Comprehensive (Loss) Income Other comprehensive (loss) income is defined as the change in equity during a period from transactions and other events from non-owner sources. Comprehensive income is the total of net income and other comprehensive loss or income, which for the Company is comprised of unrealized losses or gains on securities available for sale. The components of other comprehensive (loss) income and the related tax effects were as follows: For the period ended March 31, (Dollars in thousands) 2021 2020 Securities available for sale: Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Gross unrealized (losses) gains arising during the period $ (1,721 ) (480 ) (1,241 ) 1,770 495 1,275 Other comprehensive (loss) income $ (1,721 ) (480 ) (1,241 ) 1,770 495 1,275 |
Note 7 - Securities Available f
Note 7 - Securities Available for Sale | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 7 Securities Available For Sale The following table shows the gross unrealized losses and fair values for the securities available for sale portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2021 December 31, 2020. Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2021 Mortgage backed securities: Federal National Mortgage Association (FNMA) 10 $ 48,284 (591 ) 0 $ 0 0 $ 48,284 (591 ) Federal Home Loan Mortgage Corporation (FHLMC) 8 38,717 (448 ) 0 0 0 38,717 (448 ) Other marketable securities: U.S. Government agency obligations 6 29,922 (74 ) 0 0 0 29,922 (74 ) Corporate preferred stock 0 0 0 1 630 (70 ) 630 (70 ) Total temporarily impaired securities 24 $ 116,923 (1,113 ) 1 $ 630 (70 ) $ 117,553 (1,183 ) Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2020 Mortgage backed securities: FNMA 1 $ 4,956 (3 ) 0 $ 0 0 $ 4,956 (3 ) Other marketable securities: Corporate preferred stock 0 0 0 1 630 (70 ) 630 (70 ) Total temporarily impaired securities 1 $ 4,956 (3 ) 1 $ 630 (70 ) $ 5,586 (73 ) The Company reviews its investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the market liquidity for the investment, the financial condition and near-term prospects of the issuer, including any specific events which may March 31, 2021 March 31, 2021 not March 31, 2021 not may A summary of securities available for sale at March 31, 2021 December 31, 2020 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2021 Mortgage-backed securities: FNMA $ 83,797 878 (591 ) 84,084 FHLMC 49,563 227 (448 ) 49,342 Collateralized mortgage obligations: FNMA 74 5 0 79 133,434 1,110 (1,039 ) 133,505 Other marketable securities: U.S. Government agency obligations 45,007 130 (74 ) 45,063 Municipal obligations 79 1 0 80 Corporate preferred stock 700 0 (70 ) 630 45,786 131 (144 ) 45,773 $ 179,220 1,241 (1,183 ) 179,278 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2020 Mortgage-backed securities: FNMA $ 68,699 1,313 (3 ) 70,009 FHLMC 31,025 327 0 31,352 Collateralized mortgage obligations: FNMA 97 6 0 103 99,821 1,646 (3 ) 101,464 Other marketable securities: U.S. Government agency obligations 45,029 204 0 45,233 Municipal obligations 725 1 0 726 Corporate obligations 37 0 0 37 Corporate preferred stock 700 0 (70 ) 630 46,491 205 (70 ) 46,626 $ 146,312 1,851 (73 ) 148,090 The following table indicates amortized cost and estimated fair value of securities available for sale at March 31, 2021 (Dollars in thousands) Amortized Cost Fair Value Due less than one year $ 66,817 66,871 Due after one year through five years 94,695 94,760 Due after five years through ten years 16,898 16,907 Due after ten years 810 740 Total $ 179,220 179,278 The allocation of mortgage-backed securities in the table above is based upon the anticipated future cash flow of the securities using estimated mortgage prepayment speeds. The allocation of other marketable securities that have call features is based on the anticipated cash flows to the expected call date if it is anticipated that the security will be called, or to the maturity date if it is not |
Note 8 - Loans Receivable, Net
Note 8 - Loans Receivable, Net | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 8 Loans Receivable, Net A summary of loans receivable at March 31, 2021 December 31, 2020 (Dollars in thousands) March 31, 2021 December 31, 2020 Single family $ 136,681 135,023 Commercial real estate: Real estate rental and leasing 195,926 202,400 Other 179,505 178,304 375,431 380,704 Consumer 49,827 55,391 Commercial business 91,398 82,673 Total loans 653,337 653,791 Less: Unamortized discounts 12 12 Net deferred loan fees 1,406 450 Allowance for loan losses 10,132 10,699 Total loans receivable, net $ 641,787 642,630 |
Note 9 - Allowance for Loan Los
Note 9 - Allowance for Loan Losses and Credit Quality Information | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Allowance For Loan Losses And Credit Quality Information [Text Block] | ( 9 Allowance for Loan Losses and Credit Quality Information The allowance for loan losses is summarized as follows: (Dollars in thousands) Single Family Commercial Real Estate Consumer Commercial Business Total Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Provision for losses (191 ) (222 ) (171 ) 8 (576 ) Charge-offs 0 0 (31 ) 0 (31 ) Recoveries 0 0 2 38 40 Balance, March 31, 2021 $ 839 7,073 1,189 1,031 10,132 Balance, December 31, 2019 $ 857 5,060 1,507 1,140 8,564 Provision for losses 80 479 87 (186 ) 460 Charge-offs 0 0 (12 ) 0 (12 ) Recoveries 0 0 1 23 24 Balance, March 31, 2020 $ 937 5,539 1,583 977 9,036 Allocated to: Specific reserves $ 29 95 100 14 238 General reserves 1,001 7,200 1,289 971 10,461 Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Allocated to: Specific reserves $ 29 86 78 12 205 General reserves 810 6,987 1,111 1,019 9,927 Balance, March 31, 2021 $ 839 7,073 1,189 1,031 10,132 Loans receivable at December 31, 2020: Individually reviewed for impairment $ 857 1,484 750 35 3,126 Collectively reviewed for impairment 134,166 379,220 54,641 82,638 650,665 Ending balance $ 135,023 380,704 55,391 82,673 653,791 Loans receivable at March 31, 2021: Individually reviewed for impairment $ 852 1,408 660 37 2,957 Collectively reviewed for impairment 135,829 374,023 49,167 91,361 650,380 Ending balance $ 136,681 375,431 49,827 91,398 653,337 The following table summarizes the amount of classified and unclassified loans at March 31, 2021 December 31, 2020: March 31, 2021 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 1,207 1,956 28 0 3,191 133,490 136,681 Commercial real estate: Real estate rental and leasing 8,845 2,454 0 0 11,299 184,627 195,926 Other 8,292 5,440 0 0 13,732 165,773 179,505 Consumer 0 538 107 15 660 49,167 49,827 Commercial business 2,801 2,212 0 0 5,013 86,385 91,398 $ 21,145 12,600 135 15 33,895 619,442 653,337 December 31, 2020 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 1,219 2,845 29 0 4,093 130,930 135,023 Commercial real estate: Real estate rental and leasing 8,065 3,483 0 0 11,548 190,852 202,400 Other 8,774 9,750 0 0 18,524 159,780 178,304 Consumer 0 600 132 18 750 54,641 55,391 Commercial business 1,968 2,482 0 0 4,450 78,223 82,673 $ 20,026 19,160 161 18 39,365 614,426 653,791 Classified loans represent special mention, substandard (performing and non-performing), and non-performing loans categorized as doubtful and loss. Loans classified as special mention are loans that have potential weaknesses that, if left uncorrected, may not may not The aging of past due loans at March 31, 2021 December 31, 2020 (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Loans Total Loans Loans 90 Days or More Past Due and Still Accruing March 31, 2021 Single family $ 1,034 0 297 1,331 135,350 136,681 0 Commercial real estate: Real estate rental and leasing 0 0 0 0 195,926 195,926 0 Other 0 0 0 0 179,505 179,505 0 Consumer 305 25 291 621 49,206 49,827 0 Commercial business 0 0 0 0 91,398 91,398 0 $ 1,339 25 588 1,952 651,385 653,337 0 December 31, 2020 Single family $ 626 38 298 962 134,061 135,023 0 Commercial real estate: Real estate rental and leasing 0 0 0 0 202,400 202,400 0 Other 0 0 0 0 178,304 178,304 0 Consumer 458 66 279 803 54,588 55,391 0 Commercial business 0 0 0 0 82,673 82,673 0 $ 1,084 104 577 1,765 652,026 653,791 0 Impaired loans include loans that are non-performing (non-accruing) and loans that have been modified in a troubled debt restructuring (TDR). The following table summarizes impaired loans and related allowances as of March 31, 2021 December 31, 2020: March 31, 2021 December 31, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance Loans with no related allowance recorded: Single family $ 737 756 0 740 759 0 Commercial real estate: Real estate rental and leasing 1,071 1,721 0 932 1,582 0 Other 198 198 0 211 211 0 Consumer 512 512 0 574 574 0 Loans with an allowance recorded: Single family 115 115 29 117 117 29 Commercial real estate: Real estate rental and leasing 0 0 0 166 166 5 Other 139 139 86 175 175 90 Consumer 148 148 78 176 176 100 Commercial business 37 588 12 35 586 14 Total: Single family 852 871 29 857 876 29 Commercial real estate: Real estate rental and leasing 1,071 1,721 0 1,098 1,748 5 Other 337 337 86 386 386 90 Consumer 660 660 78 750 750 100 Commercial business 37 588 12 35 586 14 $ 2,957 4,177 205 3,126 4,346 238 The following table summarizes the average recorded investment and interest income recognized on impaired loans during the three March 31, 2021 2020: March 31, 2021 March 31, 2020 (Dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Loans with no related allowance recorded: Single family $ 739 6 564 5 Commercial real estate: Real estate rental and leasing 1,002 0 0 0 Other 205 0 279 2 Consumer 543 1 694 5 Loans with an allowance recorded: Single family 116 0 425 6 Commercial real estate: Real estate rental and leasing 83 0 182 0 Other 157 0 975 20 Consumer 162 0 196 2 Commercial business 36 0 433 2 Total: Single family 855 6 989 11 Commercial real estate: Real estate rental and leasing 1,085 0 182 0 Other 362 0 1,254 22 Consumer 705 1 890 7 Commercial business 36 0 433 2 $ 3,043 7 3,748 42 At March 31, 2021 December 31, 2020, $2.5 $2.7 $0.2 no $2.1 March 31, 2021 December 31, 2020. The non-accrual loans at March 31, 2021 December 31, 2020 (Dollars in thousands) March 31, 2021 December 31, 2020 Single family $ 497 $ 502 Commercial real estate: Real estate rental and leasing 1,071 1,098 Other 337 386 Consumer 612 689 Commercial business 8 9 $ 2,525 $ 2,684 At March 31, 2021 December 31, 2020, $1.6 $1.5 first 2021, not $0.1 March 31, 2021. first 2020, none $0.4 March 31, 2020. The following table summarizes TDRs at March 31, 2021 December 31, 2020: March 31, 2021 December, 31, 2020 (Dollars in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Single family $ 355 253 608 355 257 612 Commercial real estate 0 337 337 0 211 211 Consumer 49 538 587 62 568 630 Commercial business 28 0 28 25 0 25 $ 432 1,128 1,560 442 1,036 1,478 As of March 31, 2021, $1.4 75%. December 31, 2020, $1.1 TDR concessions can include reduction of interest rates, extension of maturity dates, forgiveness of principal and/or interest due, or acceptance of real estate or other assets in full or partial satisfaction of the debt. Loan modifications are not twelve twelve When a loan is modified in a TDR, there may may three March 31, 2021 March 31, 2020. Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (Dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled debt restructurings: Single family 0 $ 0 0 1 $ 94 101 Commercial real estate: Other 1 139 139 2 293 293 Commercial business 1 14 14 0 0 0 Total 2 $ 153 153 3 $ 387 394 There were no twelve March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020. The Company considers a loan to have defaulted when it becomes 90 six six may TDRs are reviewed for impairment following the same methodology as other impaired loans. For loans that are collateral-dependent, the value of the collateral is reviewed and additional reserves may not may $0.2 1.7%, $10.1 March 31, 2021 $0.1 0.9%, $10.7 December 31, 2020. The Coronavirus Aid, Relief, and Economic Security Act March 27, 2020 Interagency Statement on Loan Modification and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus April 7, 2020. 4013 December 31, 2021. 19 March 31, 2021 $34.5 4013 $29.2 one $5.3 may may may may |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | ( 10 Intangible Assets The Company's intangible assets consist of core deposit intangibles, goodwill and mortgage servicing rights. A summary of mortgage servicing activity is as follows: (Dollars in thousands) Three Months Ended March 31, 2021 Twelve Months Ended December 31, 2020 Three Months Ended March 31, 2020 Balance, beginning of period $ 3,043 2,172 2,172 Originations 368 2,189 262 Amortization (297 ) (1,318 ) (228 ) Balance, end of period $ 3,114 3,043 2,206 Fair value of mortgage servicing rights $ 4,073 3,378 2,745 All of the loans sold where the Company continues to service the loans are serviced for FNMA under the individual loan sale program. The following is a summary of the risk characteristics of the loans being serviced for FNMA at March 31, 2021: Weighted Weighted Loan Average Average Principal Interest Remaining Number (Dollars in thousands) Balance Rate Term (months) of Loans Original term 30 year fixed rate $ 400,702 3.55 % 312 2,628 Original term 15 year fixed rate 122,675 2.93 142 1,100 Amortization expense for intangible assets was $0.3 three March 31, 2021 March 31, 2020. March 31, 2021 December 31, 2020 March 31, 2021 Gross Unamortized Carrying Accumulated Intangible (Dollars in thousands) Amount Amortization Assets Mortgage servicing rights $ 5,692 (2,578 ) 3,114 Core deposit intangible 574 (542 ) 32 Goodwill 802 0 802 Total $ 7,068 (3,120 ) 3,948 December 31, 2020 Gross Unamortized Carrying Accumulated Intangible (Dollars in thousands) Amount Amortization Assets Mortgage servicing rights $ 5,691 (2,648 ) 3,043 Core deposit intangible 574 (517 ) 57 Goodwill 802 0 802 Total $ 7,067 (3,165 ) 3,902 The following table indicates the estimated future amortization expense for intangible assets: (Dollars in thousands) Mortgage Servicing Rights Core Deposit Intangible Total Intangible Assets Year ending December 31, 2021 $ 650 22 672 2022 605 10 615 2023 557 0 557 2024 508 0 508 2025 407 0 407 Thereafter 387 0 387 Total $ 3,114 32 3,146 No not may Projections of amortization are based on existing asset balances and the existing interest rate environment as of March 31, 2021. may |
Note 11 - Leases
Note 11 - Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 11 Leases The Company accounts for its leases in accordance with ASU 2016 02, 842 March 31, 2021 $3.0 Operating lease right-of-use assets represent the Company's right to use an underlying asset during the lease term and operating lease liabilities represent its obligation to make lease payments arising from the lease. Right-of-use assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company's incremental borrowing rate at the lease commencement date. Because the Company only has operating leases and the right-of-use asset is offset by a lease payment obligation liability, the lease payments are the only amount that is recorded in occupancy expense in the consolidated statements of comprehensive income. The Company's leases relate to office space and bank branches with remaining lease terms between seventeen forty-nine three ten not not The table below summarizes the Company's net lease cost for the three March 31, 2021 2020. (Dollars in thousands) Three Months Ended Three Months Ended Operating lease cost $ 225 222 The table below summarizes other information related to the Company's operating leases: (Dollars in thousands) Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 225 222 Weighted-average remaining lease term – operating leases, in years 3.5 4.5 Weighted-average discount rate – operating leases 2.19 % 2.19 % The table below summarizes the maturity of remaining lease liabilities at March 31, 2021: (Dollars in thousands) March 31, 2021 2021 $ 674 2022 932 2023 807 2024 729 2025 15 2026 and thereafter 0 Total lease payments 3,157 Less: Interest (123 ) Present value of lease liabilities $ 3,034 |
Note 12 - Earnings Per Common S
Note 12 - Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 12 Earnings per Common Share The following table reconciles the weighted average shares outstanding and the earnings available to common stockholders used for basic and diluted earnings per common share: Three Months Ended March 31, March 31, (Dollars in thousands, except per share data) 2021 2020 Weighted average number of common shares outstanding used in basic earnings per common share calculation 4,560,743 4,625,908 Net dilutive effect of: Restricted stock awards and options 28,681 27,718 Weighted average number of shares outstanding adjusted for effect of dilutive securities 4,589,424 4,653,626 Income available to common stockholders $ 3,418 1,385 Basic earnings per common share $ 0.75 0.30 Diluted earnings per common share $ 0.74 0.30 |
Note 13 - Regulatory Capital an
Note 13 - Regulatory Capital and Oversight | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 13 Regulatory Capital and Oversight The Bank is subject to the Basel III regulatory capital requirements. The Basel III requirements, among other things, (i) apply a set of capital requirements to the Bank, including requirements relating to common equity as a component of core capital, (ii) implement a “capital conservation buffer” against risk and a higher minimum Tier 1 The Board of Governors of the Federal Reserve System amended its Small Bank Holding Company Policy Statement (Policy Statement), to exempt small bank holding companies with assets less than $3 Quantitative measures established by regulations to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table and defined in the regulation) of Common Equity Tier 1 1 1 The Bank's average total assets for the first 2021 $932.0 $931.2 $666.6 March 31, 2021 Actual Required to be Adequately Capitalized Excess Capital To Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Amount Percent of Assets (1) Amount Percent of Assets (1) Amount Percent of Assets (1) Amount Percent of Assets (1) March 31, 2021 Common equity Tier 1 capital $ 93,092 13.97 % $ 29,997 4.50 % $ 63,095 9.47 % $ 43,329 6.50 % Tier 1 leverage 93,092 10.00 37,250 4.00 55,842 6.00 46,562 5.00 Tier 1 risk-based capital 93,092 13.97 39,996 6.00 53,096 7.97 53,328 8.00 Total risk-based capital 101,446 15.22 53,328 8.00 48,118 7.22 66,660 10.00 ( 1 1 The Bank must maintain a capital conservation buffer of 2.50% 1 March 31, 2021, no |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | ( 14 Stockholders Equity The Company was authorized to repurchase up to $4.0 March 31, 2021. not 29,400 $0.5 first 2021. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 15 Commitments and Contingencies The Bank issues standby letters of credit which guarantee the performance of customers to third March 31, 2021 $5.1 18 may not From time to time, the Company is party to legal proceedings arising out of its lending and deposit operations. The Company is, and expects to become, engaged in foreclosure proceedings, collection actions, and other litigation as part of its normal banking activities. Among the various current litigation matters, the Company is involved in a bankruptcy litigation claim where the bankruptcy trustee is attempting to recover $1.9 not $0 $0.9 not may may Based on the Company's current understanding of all of the outstanding legal matters, management does not |
Note 16 - Business Segments
Note 16 - Business Segments | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 16 Business Segments The Bank has been identified as a reportable operating segment in accordance with the provisions of ASC 280. not The Company evaluates performance and allocates resources based on the segment's net income, return on average assets and return on average equity. Each corporation is managed separately with its own officers and board of directors. The following table sets forth certain information about the reconciliations of reported profit and assets for each of the Company's reportable segments. (Dollars in thousands) Home Federal Savings Bank Other Eliminations Consolidated Total At or for the quarter ended March 31, 2021: Interest income - external customers $ 7,889 0 0 7,889 Non-interest income - external customers 3,254 1 0 3,255 Intersegment interest income 0 8 (8 ) 0 Intersegment non-interest income 58 3,594 (3,652 ) 0 Interest expense 461 0 (8 ) 453 Provision for loan losses (576 ) 0 0 (576 ) Non-interest expense 6,309 228 (58 ) 6,479 Income tax expense (benefit) 1,413 (43 ) 0 1,370 Net income 3,594 3,418 (3,594 ) 3,418 Total assets 970,641 105,195 (104,531 ) 971,305 At or for the quarter ended March 31, 2020: Interest income - external customers $ 7,844 0 0 7,844 Non-interest income - external customers 2,471 0 0 2,471 Intersegment interest income 0 15 (15 ) 0 Intersegment non-interest income 59 1,524 (1,583 ) 0 Interest expense 907 0 (15 ) 892 Provision for loan losses 460 0 0 460 Non-interest expense 6,874 186 (59 ) 7,001 Income tax expense (benefit) 609 (32 ) 0 577 Net income 1,524 1,385 (1,524 ) 1,385 Total assets 783,615 95,197 (94,612 ) 784,200 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Carrying Value at March 31, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 179,278 0 179,278 0 Equity securities 201 0 201 0 Mortgage loan commitments (27 ) 0 (27 ) 0 Total $ 179,452 0 179,452 0 Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale $ 148,090 0 148,090 0 Equity securities 149 0 149 0 Mortgage loan commitments 261 0 261 0 Total $ 148,500 0 148,500 0 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Carrying Value at March 31, 2021 (Dollars in thousands) Total Level 1 Level 2 Level 3 Three Months Ended March 31, 2021 Total Losses Loans held for sale $ 7,256 0 7,256 0 (113 ) Mortgage servicing rights, net 3,114 0 3,114 0 0 Impaired loans 2,752 0 2,752 0 (5 ) Real estate, net 666 0 666 0 0 Total $ 13,788 0 13,788 0 (118 ) Carrying Value at December 31, 2020 (Dollars in thousands) Total Level 1 Level 2 Level 3 Year Ended December 31, 2020 Total Gains (Losses) Loans held for sale $ 6,186 0 6,186 0 28 Mortgage servicing rights, net 3,043 0 3,043 0 0 Impaired loans 2,888 0 2,888 0 (76 ) Real estate, net 636 0 636 0 0 Total $ 12,753 0 12,753 0 (48 ) |
Note 5 - Fair Value of Financ_2
Note 5 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2021 December 31, 2020 Fair Value Hierarchy Fair Value Hierarchy (Dollars in thousands) Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Amount Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Contract Amount Financial assets: Cash and cash equivalents $ 115,391 115,391 115,391 86,269 86,269 86,269 Securities available for sale 179,278 179,278 179,278 148,090 148,090 148,090 Equity securities 201 201 201 149 149 149 Loans held for sale 7,256 7,256 7,256 6,186 6,186 6,186 Loans receivable, net 641,787 646,961 646,961 642,630 648,275 648,275 Federal Home Loan Bank stock 1,092 1,092 1,092 932 932 932 Accrued interest receivable 2,374 2,374 2,374 3,102 3,102 3,102 Financial liabilities: Deposits 855,478 855,955 855,955 795,204 795,927 795,927 Accrued interest payable 145 145 145 140 140 140 Off-balance sheet financial instruments: Commitments to extend credit (27 ) (27 ) 199,178 261 261 180,330 Commitments to sell loans 69 69 27,496 (44 ) (44 ) 24,746 |
Note 6 - Other Comprehensive _2
Note 6 - Other Comprehensive (Loss) Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | For the period ended March 31, (Dollars in thousands) 2021 2020 Securities available for sale: Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Gross unrealized (losses) gains arising during the period $ (1,721 ) (480 ) (1,241 ) 1,770 495 1,275 Other comprehensive (loss) income $ (1,721 ) (480 ) (1,241 ) 1,770 495 1,275 |
Note 7 - Securities Available_2
Note 7 - Securities Available for Sale (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2021 Mortgage backed securities: Federal National Mortgage Association (FNMA) 10 $ 48,284 (591 ) 0 $ 0 0 $ 48,284 (591 ) Federal Home Loan Mortgage Corporation (FHLMC) 8 38,717 (448 ) 0 0 0 38,717 (448 ) Other marketable securities: U.S. Government agency obligations 6 29,922 (74 ) 0 0 0 29,922 (74 ) Corporate preferred stock 0 0 0 1 630 (70 ) 630 (70 ) Total temporarily impaired securities 24 $ 116,923 (1,113 ) 1 $ 630 (70 ) $ 117,553 (1,183 ) Less Than Twelve Months Twelve Months or More Total (Dollars in thousands) # of Investments Fair Value Unrealized Losses # of Investments Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2020 Mortgage backed securities: FNMA 1 $ 4,956 (3 ) 0 $ 0 0 $ 4,956 (3 ) Other marketable securities: Corporate preferred stock 0 0 0 1 630 (70 ) 630 (70 ) Total temporarily impaired securities 1 $ 4,956 (3 ) 1 $ 630 (70 ) $ 5,586 (73 ) |
Available-for-sale Securities [Table Text Block] | (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2021 Mortgage-backed securities: FNMA $ 83,797 878 (591 ) 84,084 FHLMC 49,563 227 (448 ) 49,342 Collateralized mortgage obligations: FNMA 74 5 0 79 133,434 1,110 (1,039 ) 133,505 Other marketable securities: U.S. Government agency obligations 45,007 130 (74 ) 45,063 Municipal obligations 79 1 0 80 Corporate preferred stock 700 0 (70 ) 630 45,786 131 (144 ) 45,773 $ 179,220 1,241 (1,183 ) 179,278 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2020 Mortgage-backed securities: FNMA $ 68,699 1,313 (3 ) 70,009 FHLMC 31,025 327 0 31,352 Collateralized mortgage obligations: FNMA 97 6 0 103 99,821 1,646 (3 ) 101,464 Other marketable securities: U.S. Government agency obligations 45,029 204 0 45,233 Municipal obligations 725 1 0 726 Corporate obligations 37 0 0 37 Corporate preferred stock 700 0 (70 ) 630 46,491 205 (70 ) 46,626 $ 146,312 1,851 (73 ) 148,090 |
Available-for-sale Securities [Member] | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | (Dollars in thousands) Amortized Cost Fair Value Due less than one year $ 66,817 66,871 Due after one year through five years 94,695 94,760 Due after five years through ten years 16,898 16,907 Due after ten years 810 740 Total $ 179,220 179,278 |
Note 8 - Loans Receivable, Net
Note 8 - Loans Receivable, Net (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Summary of Loans Receivable [Table Text Block] | (Dollars in thousands) March 31, 2021 December 31, 2020 Single family $ 136,681 135,023 Commercial real estate: Real estate rental and leasing 195,926 202,400 Other 179,505 178,304 375,431 380,704 Consumer 49,827 55,391 Commercial business 91,398 82,673 Total loans 653,337 653,791 Less: Unamortized discounts 12 12 Net deferred loan fees 1,406 450 Allowance for loan losses 10,132 10,699 Total loans receivable, net $ 641,787 642,630 |
Note 9 - Allowance for Loan L_2
Note 9 - Allowance for Loan Losses and Credit Quality Information (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (Dollars in thousands) Single Family Commercial Real Estate Consumer Commercial Business Total Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Provision for losses (191 ) (222 ) (171 ) 8 (576 ) Charge-offs 0 0 (31 ) 0 (31 ) Recoveries 0 0 2 38 40 Balance, March 31, 2021 $ 839 7,073 1,189 1,031 10,132 Balance, December 31, 2019 $ 857 5,060 1,507 1,140 8,564 Provision for losses 80 479 87 (186 ) 460 Charge-offs 0 0 (12 ) 0 (12 ) Recoveries 0 0 1 23 24 Balance, March 31, 2020 $ 937 5,539 1,583 977 9,036 Allocated to: Specific reserves $ 29 95 100 14 238 General reserves 1,001 7,200 1,289 971 10,461 Balance, December 31, 2020 $ 1,030 7,295 1,389 985 10,699 Allocated to: Specific reserves $ 29 86 78 12 205 General reserves 810 6,987 1,111 1,019 9,927 Balance, March 31, 2021 $ 839 7,073 1,189 1,031 10,132 Loans receivable at December 31, 2020: Individually reviewed for impairment $ 857 1,484 750 35 3,126 Collectively reviewed for impairment 134,166 379,220 54,641 82,638 650,665 Ending balance $ 135,023 380,704 55,391 82,673 653,791 Loans receivable at March 31, 2021: Individually reviewed for impairment $ 852 1,408 660 37 2,957 Collectively reviewed for impairment 135,829 374,023 49,167 91,361 650,380 Ending balance $ 136,681 375,431 49,827 91,398 653,337 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2021 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 1,207 1,956 28 0 3,191 133,490 136,681 Commercial real estate: Real estate rental and leasing 8,845 2,454 0 0 11,299 184,627 195,926 Other 8,292 5,440 0 0 13,732 165,773 179,505 Consumer 0 538 107 15 660 49,167 49,827 Commercial business 2,801 2,212 0 0 5,013 86,385 91,398 $ 21,145 12,600 135 15 33,895 619,442 653,337 December 31, 2020 Classified Unclassified (Dollars in thousands) Special Mention Substandard Doubtful Loss Total Total Total Loans Single family $ 1,219 2,845 29 0 4,093 130,930 135,023 Commercial real estate: Real estate rental and leasing 8,065 3,483 0 0 11,548 190,852 202,400 Other 8,774 9,750 0 0 18,524 159,780 178,304 Consumer 0 600 132 18 750 54,641 55,391 Commercial business 1,968 2,482 0 0 4,450 78,223 82,673 $ 20,026 19,160 161 18 39,365 614,426 653,791 |
Financing Receivable, Past Due [Table Text Block] | (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Loans Total Loans Loans 90 Days or More Past Due and Still Accruing March 31, 2021 Single family $ 1,034 0 297 1,331 135,350 136,681 0 Commercial real estate: Real estate rental and leasing 0 0 0 0 195,926 195,926 0 Other 0 0 0 0 179,505 179,505 0 Consumer 305 25 291 621 49,206 49,827 0 Commercial business 0 0 0 0 91,398 91,398 0 $ 1,339 25 588 1,952 651,385 653,337 0 December 31, 2020 Single family $ 626 38 298 962 134,061 135,023 0 Commercial real estate: Real estate rental and leasing 0 0 0 0 202,400 202,400 0 Other 0 0 0 0 178,304 178,304 0 Consumer 458 66 279 803 54,588 55,391 0 Commercial business 0 0 0 0 82,673 82,673 0 $ 1,084 104 577 1,765 652,026 653,791 0 |
Impaired Financing Receivables [Table Text Block] | March 31, 2021 December 31, 2020 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance Loans with no related allowance recorded: Single family $ 737 756 0 740 759 0 Commercial real estate: Real estate rental and leasing 1,071 1,721 0 932 1,582 0 Other 198 198 0 211 211 0 Consumer 512 512 0 574 574 0 Loans with an allowance recorded: Single family 115 115 29 117 117 29 Commercial real estate: Real estate rental and leasing 0 0 0 166 166 5 Other 139 139 86 175 175 90 Consumer 148 148 78 176 176 100 Commercial business 37 588 12 35 586 14 Total: Single family 852 871 29 857 876 29 Commercial real estate: Real estate rental and leasing 1,071 1,721 0 1,098 1,748 5 Other 337 337 86 386 386 90 Consumer 660 660 78 750 750 100 Commercial business 37 588 12 35 586 14 $ 2,957 4,177 205 3,126 4,346 238 March 31, 2021 March 31, 2020 (Dollars in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Loans with no related allowance recorded: Single family $ 739 6 564 5 Commercial real estate: Real estate rental and leasing 1,002 0 0 0 Other 205 0 279 2 Consumer 543 1 694 5 Loans with an allowance recorded: Single family 116 0 425 6 Commercial real estate: Real estate rental and leasing 83 0 182 0 Other 157 0 975 20 Consumer 162 0 196 2 Commercial business 36 0 433 2 Total: Single family 855 6 989 11 Commercial real estate: Real estate rental and leasing 1,085 0 182 0 Other 362 0 1,254 22 Consumer 705 1 890 7 Commercial business 36 0 433 2 $ 3,043 7 3,748 42 |
Financing Receivable, Nonaccrual [Table Text Block] | (Dollars in thousands) March 31, 2021 December 31, 2020 Single family $ 497 $ 502 Commercial real estate: Real estate rental and leasing 1,071 1,098 Other 337 386 Consumer 612 689 Commercial business 8 9 $ 2,525 $ 2,684 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | March 31, 2021 December, 31, 2020 (Dollars in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Single family $ 355 253 608 355 257 612 Commercial real estate 0 337 337 0 211 211 Consumer 49 538 587 62 568 630 Commercial business 28 0 28 25 0 25 $ 432 1,128 1,560 442 1,036 1,478 |
Financial Effects of Troubled Debt Restructurings and Difference Between Outstanding Recorded Balance Pre Modification and Post Modification [Table Text Block] | Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (Dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled debt restructurings: Single family 0 $ 0 0 1 $ 94 101 Commercial real estate: Other 1 139 139 2 293 293 Commercial business 1 14 14 0 0 0 Total 2 $ 153 153 3 $ 387 394 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Servicing Liability at Amortized Cost [Table Text Block] | (Dollars in thousands) Three Months Ended March 31, 2021 Twelve Months Ended December 31, 2020 Three Months Ended March 31, 2020 Balance, beginning of period $ 3,043 2,172 2,172 Originations 368 2,189 262 Amortization (297 ) (1,318 ) (228 ) Balance, end of period $ 3,114 3,043 2,206 Fair value of mortgage servicing rights $ 4,073 3,378 2,745 |
Summary of Risk Characteristics of Loans Being Serviced [Table Text Block] | Weighted Weighted Loan Average Average Principal Interest Remaining Number (Dollars in thousands) Balance Rate Term (months) of Loans Original term 30 year fixed rate $ 400,702 3.55 % 312 2,628 Original term 15 year fixed rate 122,675 2.93 142 1,100 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | March 31, 2021 Gross Unamortized Carrying Accumulated Intangible (Dollars in thousands) Amount Amortization Assets Mortgage servicing rights $ 5,692 (2,578 ) 3,114 Core deposit intangible 574 (542 ) 32 Goodwill 802 0 802 Total $ 7,068 (3,120 ) 3,948 December 31, 2020 Gross Unamortized Carrying Accumulated Intangible (Dollars in thousands) Amount Amortization Assets Mortgage servicing rights $ 5,691 (2,648 ) 3,043 Core deposit intangible 574 (517 ) 57 Goodwill 802 0 802 Total $ 7,067 (3,165 ) 3,902 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (Dollars in thousands) Mortgage Servicing Rights Core Deposit Intangible Total Intangible Assets Year ending December 31, 2021 $ 650 22 672 2022 605 10 615 2023 557 0 557 2024 508 0 508 2025 407 0 407 Thereafter 387 0 387 Total $ 3,114 32 3,146 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | (Dollars in thousands) Three Months Ended Three Months Ended Operating lease cost $ 225 222 |
Other Information Related to Operating Leases [Table Text Block] | (Dollars in thousands) Three Months Ended Three Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 225 222 Weighted-average remaining lease term – operating leases, in years 3.5 4.5 Weighted-average discount rate – operating leases 2.19 % 2.19 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (Dollars in thousands) March 31, 2021 2021 $ 674 2022 932 2023 807 2024 729 2025 15 2026 and thereafter 0 Total lease payments 3,157 Less: Interest (123 ) Present value of lease liabilities $ 3,034 |
Note 12 - Earnings Per Common_2
Note 12 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, March 31, (Dollars in thousands, except per share data) 2021 2020 Weighted average number of common shares outstanding used in basic earnings per common share calculation 4,560,743 4,625,908 Net dilutive effect of: Restricted stock awards and options 28,681 27,718 Weighted average number of shares outstanding adjusted for effect of dilutive securities 4,589,424 4,653,626 Income available to common stockholders $ 3,418 1,385 Basic earnings per common share $ 0.75 0.30 Diluted earnings per common share $ 0.74 0.30 |
Note 13 - Regulatory Capital _2
Note 13 - Regulatory Capital and Oversight (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Required to be Adequately Capitalized Excess Capital To Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Amount Percent of Assets (1) Amount Percent of Assets (1) Amount Percent of Assets (1) Amount Percent of Assets (1) March 31, 2021 Common equity Tier 1 capital $ 93,092 13.97 % $ 29,997 4.50 % $ 63,095 9.47 % $ 43,329 6.50 % Tier 1 leverage 93,092 10.00 37,250 4.00 55,842 6.00 46,562 5.00 Tier 1 risk-based capital 93,092 13.97 39,996 6.00 53,096 7.97 53,328 8.00 Total risk-based capital 101,446 15.22 53,328 8.00 48,118 7.22 66,660 10.00 |
Note 16 - Business Segments (Ta
Note 16 - Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (Dollars in thousands) Home Federal Savings Bank Other Eliminations Consolidated Total At or for the quarter ended March 31, 2021: Interest income - external customers $ 7,889 0 0 7,889 Non-interest income - external customers 3,254 1 0 3,255 Intersegment interest income 0 8 (8 ) 0 Intersegment non-interest income 58 3,594 (3,652 ) 0 Interest expense 461 0 (8 ) 453 Provision for loan losses (576 ) 0 0 (576 ) Non-interest expense 6,309 228 (58 ) 6,479 Income tax expense (benefit) 1,413 (43 ) 0 1,370 Net income 3,594 3,418 (3,594 ) 3,418 Total assets 970,641 105,195 (104,531 ) 971,305 At or for the quarter ended March 31, 2020: Interest income - external customers $ 7,844 0 0 7,844 Non-interest income - external customers 2,471 0 0 2,471 Intersegment interest income 0 15 (15 ) 0 Intersegment non-interest income 59 1,524 (1,583 ) 0 Interest expense 907 0 (15 ) 892 Provision for loan losses 460 0 0 460 Non-interest expense 6,874 186 (59 ) 7,001 Income tax expense (benefit) 609 (32 ) 0 577 Net income 1,524 1,385 (1,524 ) 1,385 Total assets 783,615 95,197 (94,612 ) 784,200 |
Note 1 - HMN Financial, Inc. (D
Note 1 - HMN Financial, Inc. (Details Textual) | 3 Months Ended |
Mar. 31, 2021 | |
Percentage Of Ownership In Subsidiaries | 100.00% |
Number of Wholly Owned Subsidiaries | 2 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Securities available for sale | $ 179,278 | $ 148,090 |
Fair Value, Recurring [Member] | ||
Securities available for sale | 179,278 | 148,090 |
Equity securities | 201 | 149 |
Mortgage loan commitments | (27) | 261 |
Total | 179,452 | 148,500 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale | 0 | 0 |
Equity securities | 0 | 0 |
Mortgage loan commitments | 0 | 0 |
Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale | 179,278 | 148,090 |
Equity securities | 201 | 149 |
Mortgage loan commitments | (27) | 261 |
Total | 179,452 | 148,500 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale | 0 | 0 |
Equity securities | 0 | 0 |
Mortgage loan commitments | 0 | 0 |
Total | $ 0 | $ 0 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Assets Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Loans held for sale, Total gains (losses) | $ (113) | $ 28 |
Mortgage servicing rights, Total gains (losses) | 0 | 0 |
Impaired loanss, Total gains (losses) | (5) | (76) |
Real estate, net (2), Total gains (losses) | 0 | 0 |
Total, Total gains (losses) | (118) | (48) |
Fair Value, Nonrecurring [Member] | ||
Loans held for sale | 7,256 | 6,186 |
Mortgage servicing rights, net | 3,114 | 3,043 |
Impaired loans | 2,752 | 2,888 |
Real estate, net | 666 | 636 |
Total | 13,788 | 12,753 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Loans held for sale | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 |
Impaired loans | 0 | 0 |
Real estate, net | 0 | 0 |
Total | 0 | 0 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Loans held for sale | 7,256 | 6,186 |
Mortgage servicing rights, net | 3,114 | 3,043 |
Impaired loans | 2,752 | 2,888 |
Real estate, net | 666 | 636 |
Total | 13,788 | 12,753 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans held for sale | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 |
Impaired loans | 0 | 0 |
Real estate, net | 0 | 0 |
Total | $ 0 | $ 0 |
Note 5 - Fair Value of Financ_3
Note 5 - Fair Value of Financial Instruments - Estimated Fair Value of Company's Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Securities available for sale | $ 179,278 | $ 148,090 |
Loans receivable, net | 641,787 | 642,630 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 115,391 | 86,269 |
Securities available for sale | 179,278 | 148,090 |
Equity securities | 201 | 149 |
Loans held for sale | 7,256 | 6,186 |
Loans receivable, net | 641,787 | 642,630 |
Federal Home Loan Bank stock | 1,092 | 932 |
Accrued interest receivable | 2,374 | 3,102 |
Deposits | 855,478 | 795,204 |
Accrued interest payable | 145 | 140 |
Commitments to extend credit | (27) | 261 |
Commitments to sell loans | 69 | (44) |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 115,391 | 86,269 |
Securities available for sale | 179,278 | 148,090 |
Equity securities | 201 | 149 |
Loans held for sale | 7,256 | 6,186 |
Loans receivable, net | 646,961 | 648,275 |
Federal Home Loan Bank stock | 1,092 | 932 |
Accrued interest receivable | 2,374 | 3,102 |
Deposits | 855,955 | 795,927 |
Accrued interest payable | 145 | 140 |
Commitments to extend credit | (27) | 261 |
Commitments to sell loans | 69 | (44) |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 115,391 | 86,269 |
Securities available for sale | ||
Equity securities | ||
Loans held for sale | ||
Loans receivable, net | ||
Federal Home Loan Bank stock | ||
Accrued interest receivable | ||
Deposits | ||
Accrued interest payable | ||
Commitments to extend credit | ||
Commitments to sell loans | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Securities available for sale | 179,278 | 148,090 |
Equity securities | 201 | 149 |
Loans held for sale | 7,256 | 6,186 |
Loans receivable, net | 646,961 | 648,275 |
Federal Home Loan Bank stock | 1,092 | 932 |
Accrued interest receivable | 2,374 | 3,102 |
Deposits | 855,955 | 795,927 |
Accrued interest payable | 145 | 140 |
Commitments to extend credit | ||
Commitments to sell loans | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Securities available for sale | ||
Equity securities | ||
Loans held for sale | ||
Loans receivable, net | ||
Federal Home Loan Bank stock | ||
Accrued interest receivable | ||
Deposits | ||
Accrued interest payable | ||
Commitments to extend credit | ||
Commitments to sell loans | ||
Portion at Other than Fair Value Measurement [Member] | ||
Cash and cash equivalents | ||
Securities available for sale | ||
Equity securities | ||
Loans held for sale | ||
Loans receivable, net | ||
Federal Home Loan Bank stock | ||
Accrued interest receivable | ||
Deposits | ||
Accrued interest payable | ||
Commitments to extend credit | 199,178 | 180,330 |
Commitments to sell loans | $ 27,496 | $ 24,746 |
Note 6 - Other Comprehensive _3
Note 6 - Other Comprehensive (Loss) Income - Components of Other Comprehensive (Loss) Income and Related Tax Effects (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Gross unrealized (losses) gains arising during the period, before tax | $ (1,721) | $ 1,770 |
Gross unrealized (losses) gains arising during the period, tax | (480) | 495 |
Gross unrealized (losses) gains arising during the period, net of tax | (1,241) | 1,275 |
Other comprehensive income (loss), before tax | (1,721) | 1,770 |
Other comprehensive income (loss), tax | (480) | 495 |
Other comprehensive income (loss), net of tax | $ (1,241) | $ 1,275 |
Note 7 - Securities Available_3
Note 7 - Securities Available for Sale (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 |
Note 7 - Securities Available_4
Note 7 - Securities Available for Sale - Securities in a Continuous Unrealized Loss Position (Details) $ in Thousands | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Less Than Twelve Months # of Investments | 24 | 1 |
Less Than Twelve Months Fair Value | $ 116,923 | $ 4,956 |
Less Than Twelve Months Unrealized Losses | $ (1,113) | $ (3) |
Twelve Months or More # of Investments | 1 | 1 |
Twelve Months or More Fair Value | $ 630 | $ 630 |
Twelve Months or More Unrealized Losses | (70) | (70) |
Total fair value | 117,553 | 5,586 |
Total temporarily impaired securities | $ (1,183) | $ (73) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Less Than Twelve Months # of Investments | 10 | |
Less Than Twelve Months Fair Value | $ 48,284 | |
Less Than Twelve Months Unrealized Losses | $ (591) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 48,284 | |
Total temporarily impaired securities | $ (591) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Less Than Twelve Months # of Investments | 8 | |
Less Than Twelve Months Fair Value | $ 38,717 | |
Less Than Twelve Months Unrealized Losses | $ (448) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 38,717 | |
Total temporarily impaired securities | $ (448) | |
Collateralized Mortgage Backed Securities [Member] | Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Less Than Twelve Months # of Investments | 1 | |
Less Than Twelve Months Fair Value | $ 4,956 | |
Less Than Twelve Months Unrealized Losses | $ (3) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 4,956 | |
Total temporarily impaired securities | $ (3) | |
Other Marketable Securities [Member] | Preferred Stock [Member] | ||
Less Than Twelve Months # of Investments | 0 | 0 |
Less Than Twelve Months Fair Value | $ 0 | $ 0 |
Less Than Twelve Months Unrealized Losses | $ 0 | $ 0 |
Twelve Months or More # of Investments | 1 | 1 |
Twelve Months or More Fair Value | $ 630 | $ 630 |
Twelve Months or More Unrealized Losses | (70) | (70) |
Total fair value | 630 | 630 |
Total temporarily impaired securities | $ (70) | $ (70) |
Other Marketable Securities [Member] | US Government Agencies Debt Securities [Member] | ||
Less Than Twelve Months # of Investments | 6 | |
Less Than Twelve Months Fair Value | $ 29,922 | |
Less Than Twelve Months Unrealized Losses | $ (74) | |
Twelve Months or More # of Investments | 0 | |
Twelve Months or More Fair Value | $ 0 | |
Twelve Months or More Unrealized Losses | 0 | |
Total fair value | 29,922 | |
Total temporarily impaired securities | $ (74) |
Note 7 - Securities Available_5
Note 7 - Securities Available for Sale - Summary of Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Securities available for sale, amortized cost | $ 179,220 | $ 146,312 |
Investment securities available for sale, gross unrealized gains | 1,241 | 1,851 |
Investment securities available for sale, gross unrealized losses | (1,183) | (73) |
Securities available for sale | 179,278 | 148,090 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | 133,434 | 99,821 |
Investment securities available for sale, gross unrealized gains | 1,110 | 1,646 |
Investment securities available for sale, gross unrealized losses | (1,039) | (3) |
Securities available for sale | 133,505 | 101,464 |
Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 45,786 | 46,491 |
Investment securities available for sale, gross unrealized gains | 131 | 205 |
Investment securities available for sale, gross unrealized losses | (144) | (70) |
Securities available for sale | 45,773 | 46,626 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 83,797 | 68,699 |
Investment securities available for sale, gross unrealized gains | 878 | 1,313 |
Investment securities available for sale, gross unrealized losses | (591) | (3) |
Securities available for sale | 84,084 | 70,009 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, amortized cost | 74 | 97 |
Investment securities available for sale, gross unrealized gains | 5 | 6 |
Investment securities available for sale, gross unrealized losses | 0 | 0 |
Securities available for sale | 79 | 103 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale, amortized cost | 49,563 | 31,025 |
Investment securities available for sale, gross unrealized gains | 227 | 327 |
Investment securities available for sale, gross unrealized losses | (448) | 0 |
Securities available for sale | 49,342 | 31,352 |
US Government Agencies Debt Securities [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 45,007 | 45,029 |
Investment securities available for sale, gross unrealized gains | 130 | 204 |
Investment securities available for sale, gross unrealized losses | (74) | 0 |
Securities available for sale | 45,063 | 45,233 |
US States and Political Subdivisions Debt Securities [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 79 | 725 |
Investment securities available for sale, gross unrealized gains | 1 | 1 |
Investment securities available for sale, gross unrealized losses | 0 | 0 |
Securities available for sale | 80 | 726 |
Preferred Stock [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 700 | 700 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | (70) | (70) |
Securities available for sale | $ 630 | 630 |
Corporate Debt Securities [Member] | Other Marketable Securities [Member] | ||
Securities available for sale, amortized cost | 37 | |
Investment securities available for sale, gross unrealized gains | 0 | |
Investment securities available for sale, gross unrealized losses | 0 | |
Securities available for sale | $ 37 |
Note 7 - Securities Available_6
Note 7 - Securities Available for Sale - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Due less than one year, amortized cost | $ 66,817 | |
Due less than one year, fair value | 66,871 | |
Due after one year through five years, amortized cost | 94,695 | |
Due after one year through five years, fair value | 94,760 | |
Due after five years through ten years, amortized cost | 16,898 | |
Due after five years through ten years, fair value | 16,907 | |
Due after ten years, amortized cost | 810 | |
Due after ten years, fair value | 740 | |
Total, amortized cost | 179,220 | $ 146,312 |
Total, fair value | $ 179,278 | $ 148,090 |
Note 8 - Loans Receivable, Ne_2
Note 8 - Loans Receivable, Net - Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Loans receivable | $ 653,337 | $ 653,791 | ||
Unamortized discounts | 12 | 12 | ||
Net deferred loan fees | 1,406 | 450 | ||
Allowance for loan losses | 10,132 | 10,699 | $ 9,036 | $ 8,564 |
Total loans receivable, net | 641,787 | 642,630 | ||
Residential Portfolio Segment [Member] | ||||
Loans receivable | 136,681 | 135,023 | ||
Allowance for loan losses | 839 | 1,030 | 937 | 857 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans receivable | 375,431 | 380,704 | ||
Allowance for loan losses | 7,073 | 7,295 | 5,539 | 5,060 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Loans receivable | 195,926 | 202,400 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||||
Loans receivable | 179,505 | 178,304 | ||
Consumer Portfolio Segment [Member] | ||||
Loans receivable | 49,827 | 55,391 | ||
Allowance for loan losses | 1,189 | 1,389 | 1,583 | 1,507 |
Commercial Portfolio Segment [Member] | ||||
Loans receivable | 91,398 | 82,673 | ||
Allowance for loan losses | $ 1,031 | $ 985 | $ 977 | $ 1,140 |
Note 9 - Allowance for Loan L_3
Note 9 - Allowance for Loan Losses and Credit Quality Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 2,525 | $ 2,684 | ||
Impaired Financing Receivable, Related Allowance | 205 | 238 | ||
Loan Receivable for Which Value of Collateral Sufficient to Repay | 2,100 | 2,100 | ||
Financing Receivable, Troubled Debt Restructuring | 1,560 | 1,478 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 1,400 | 1,100 | ||
Loan to Value Ratio | 75.00% | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | ||
Financing Receivable, Troubled Debt Restructuring, Reserves | $ 200 | $ 100 | ||
Percentage Reserves For Loan Losses On Troubled Debt Restructurings | 1.70% | 0.90% | ||
Loans and Leases Receivable, Allowance, Ending Balance | $ 10,132 | 9,036 | $ 10,699 | $ 8,564 |
Financing Receivable, Deferred Loans with Granted Loan Modifications | 34,500 | |||
Financing Receivable, Deferred Loans with Granted Loan Modifications, Interest Only Payments, Amount | 29,200 | |||
Financing Receivable, Deferred Loans with Granted Loan Modifications, Loan Amortization Period Increased, Amount | 5,300 | |||
Nonperforming Financial Instruments [Member] | ||||
Impaired Financing Receivable, Related Allowance | 200 | 200 | ||
Financing Receivable, Troubled Debt Restructuring | 1,128 | 1,036 | ||
Nonperforming Financial Instruments [Member] | Classified [Member] | ||||
Financing Receivable, Troubled Debt Restructuring | 100 | 400 | ||
Performing Financial Instruments [Member] | ||||
Financing Receivable, Troubled Debt Restructuring | $ 432 | $ 442 | ||
Performing Financial Instruments [Member] | Classified [Member] | ||||
Financing Receivable, Troubled Debt Restructuring | $ 0 |
Note 9 - Allowance for Loan L_4
Note 9 - Allowance for Loan Losses and Credit Quality Information - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 10,699 | $ 8,564 | ||
Provision for losses | (576) | 460 | ||
Charge-offs | (31) | (12) | ||
Recoveries | 40 | 24 | ||
Balance | 10,132 | 9,036 | ||
Specific reserves | $ 205 | $ 238 | ||
General reserves | 9,927 | 10,461 | ||
Balance | 10,699 | 9,036 | 10,132 | 10,699 |
Individually reviewed for impairment | 2,957 | 3,126 | ||
Collectively reviewed for impairment | 650,380 | 650,665 | ||
Ending balance | 653,337 | 653,791 | ||
Residential Portfolio Segment [Member] | ||||
Balance | 1,030 | 857 | ||
Provision for losses | (191) | 80 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Balance | 839 | 937 | ||
Specific reserves | 29 | 29 | ||
General reserves | 810 | 1,001 | ||
Balance | 839 | 937 | 839 | 1,030 |
Individually reviewed for impairment | 852 | 857 | ||
Collectively reviewed for impairment | 135,829 | 134,166 | ||
Ending balance | 136,681 | 135,023 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 7,295 | 5,060 | ||
Provision for losses | (222) | 479 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Balance | 7,073 | 5,539 | ||
Specific reserves | 86 | 95 | ||
General reserves | 6,987 | 7,200 | ||
Balance | 7,073 | 5,539 | 7,073 | 7,295 |
Individually reviewed for impairment | 1,408 | 1,484 | ||
Collectively reviewed for impairment | 374,023 | 379,220 | ||
Ending balance | 375,431 | 380,704 | ||
Consumer Portfolio Segment [Member] | ||||
Balance | 1,389 | 1,507 | ||
Provision for losses | (171) | 87 | ||
Charge-offs | (31) | (12) | ||
Recoveries | 2 | 1 | ||
Balance | 1,189 | 1,583 | ||
Specific reserves | 78 | 100 | ||
General reserves | 1,111 | 1,289 | ||
Balance | 1,189 | 1,583 | 1,189 | 1,389 |
Individually reviewed for impairment | 660 | 750 | ||
Collectively reviewed for impairment | 49,167 | 54,641 | ||
Ending balance | 49,827 | 55,391 | ||
Commercial Portfolio Segment [Member] | ||||
Balance | 985 | 1,140 | ||
Provision for losses | 8 | (186) | ||
Charge-offs | 0 | 0 | ||
Recoveries | 38 | 23 | ||
Balance | 1,031 | 977 | ||
Specific reserves | 12 | 14 | ||
General reserves | 1,019 | 971 | ||
Balance | $ 1,031 | $ 977 | 1,031 | 985 |
Individually reviewed for impairment | 37 | 35 | ||
Collectively reviewed for impairment | 91,361 | 82,638 | ||
Ending balance | $ 91,398 | $ 82,673 |
Note 9 - Allowance for Loan L_5
Note 9 - Allowance for Loan Losses and Credit Quality Information - Classified and Unclassified Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loans receivable | $ 653,337 | $ 653,791 |
Classified [Member] | ||
Loans receivable | 33,895 | 39,365 |
Classified [Member] | Special Mention [Member] | ||
Loans receivable | 21,145 | 20,026 |
Classified [Member] | Substandard [Member] | ||
Loans receivable | 12,600 | 19,160 |
Classified [Member] | Doubtful [Member] | ||
Loans receivable | 135 | 161 |
Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 15 | 18 |
Unclassified [Member] | ||
Loans receivable | 619,442 | 614,426 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 136,681 | 135,023 |
Residential Portfolio Segment [Member] | Classified [Member] | ||
Loans receivable | 3,191 | 4,093 |
Residential Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | ||
Loans receivable | 1,207 | 1,219 |
Residential Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | ||
Loans receivable | 1,956 | 2,845 |
Residential Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | ||
Loans receivable | 28 | 29 |
Residential Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 0 | 0 |
Residential Portfolio Segment [Member] | Unclassified [Member] | ||
Loans receivable | 133,490 | 130,930 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 375,431 | 380,704 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 195,926 | 202,400 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 179,505 | 178,304 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Real Estate Loan [Member] | ||
Loans receivable | 11,299 | 11,548 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 13,732 | 18,524 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | Real Estate Loan [Member] | ||
Loans receivable | 8,845 | 8,065 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 8,292 | 8,774 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | Real Estate Loan [Member] | ||
Loans receivable | 2,454 | 3,483 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 5,440 | 9,750 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unclassified [Member] | Real Estate Loan [Member] | ||
Loans receivable | 184,627 | 190,852 |
Commercial Real Estate Portfolio Segment [Member] | Unclassified [Member] | Commercial Real Estate Other [Member] | ||
Loans receivable | 165,773 | 159,780 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 49,827 | 55,391 |
Consumer Portfolio Segment [Member] | Classified [Member] | ||
Loans receivable | 660 | 750 |
Consumer Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Consumer Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | ||
Loans receivable | 538 | 600 |
Consumer Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | ||
Loans receivable | 107 | 132 |
Consumer Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 15 | 18 |
Consumer Portfolio Segment [Member] | Unclassified [Member] | ||
Loans receivable | 49,167 | 54,641 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 91,398 | 82,673 |
Commercial Portfolio Segment [Member] | Classified [Member] | ||
Loans receivable | 5,013 | 4,450 |
Commercial Portfolio Segment [Member] | Classified [Member] | Special Mention [Member] | ||
Loans receivable | 2,801 | 1,968 |
Commercial Portfolio Segment [Member] | Classified [Member] | Substandard [Member] | ||
Loans receivable | 2,212 | 2,482 |
Commercial Portfolio Segment [Member] | Classified [Member] | Doubtful [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Classified [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Unclassified [Member] | ||
Loans receivable | $ 86,385 | $ 78,223 |
Note 9 - Allowance for Loan L_6
Note 9 - Allowance for Loan Losses and Credit Quality Information - Aging of Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loans past due | $ 1,952 | $ 1,765 |
Current loans | 651,385 | 652,026 |
Loans receivable | 653,337 | 653,791 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans past due | 1,331 | 962 |
Current loans | 135,350 | 134,061 |
Loans receivable | 136,681 | 135,023 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 375,431 | 380,704 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans past due | 0 | 0 |
Current loans | 195,926 | 202,400 |
Loans receivable | 195,926 | 202,400 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans past due | 0 | 0 |
Current loans | 179,505 | 178,304 |
Loans receivable | 179,505 | 178,304 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans past due | 621 | 803 |
Current loans | 49,206 | 54,588 |
Loans receivable | 49,827 | 55,391 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans past due | 0 | 0 |
Current loans | 91,398 | 82,673 |
Loans receivable | 91,398 | 82,673 |
Loans 90 days or more past due and still accruing | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 1,339 | 1,084 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans past due | 1,034 | 626 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans past due | 305 | 458 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 25 | 104 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans past due | 0 | 38 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans past due | 25 | 66 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 588 | 577 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Loans past due | 297 | 298 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Loans past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Loans past due | 291 | 279 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans past due | $ 0 | $ 0 |
Note 9 - Allowance for Loan L_7
Note 9 - Allowance for Loan Losses and Credit Quality Information - Impaired Loans and Related Allowances (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Related allowance | $ 205 | $ 238 | |
Recorded investment | 2,957 | 3,126 | |
Unpaid principal balance | 4,177 | 4,346 | |
Average recorded investment | 3,043 | $ 3,748 | |
Interest income recognized | 7 | 42 | |
Residential Portfolio Segment [Member] | |||
Recorded investment, with no related allowance | 737 | 740 | |
Unpaid principal balance, with no related allowance | 756 | 759 | |
Recorded investment, with related allowance | 115 | 117 | |
Unpaid principal balance, with related allowance | 115 | 117 | |
Related allowance | 29 | 29 | |
Recorded investment | 852 | 857 | |
Unpaid principal balance | 871 | 876 | |
Average recorded investment, with no related allowance | 739 | 564 | |
Interest income recognized, with no related allowance | 6 | 5 | |
Average recorded investment, with related allowance | 116 | 425 | |
Interest income recognized, with related allowance | 0 | 6 | |
Average recorded investment | 855 | 989 | |
Interest income recognized | 6 | 11 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Related allowance | 86 | 95 | |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Recorded investment, with no related allowance | 1,071 | 932 | |
Unpaid principal balance, with no related allowance | 1,721 | 1,582 | |
Recorded investment, with related allowance | 0 | 166 | |
Unpaid principal balance, with related allowance | 0 | 166 | |
Related allowance | 0 | 5 | |
Recorded investment | 1,071 | 1,098 | |
Unpaid principal balance | 1,721 | 1,748 | |
Average recorded investment, with no related allowance | 1,002 | 0 | |
Interest income recognized, with no related allowance | 0 | 0 | |
Average recorded investment, with related allowance | 83 | 182 | |
Interest income recognized, with related allowance | 0 | 0 | |
Average recorded investment | 1,085 | 182 | |
Interest income recognized | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | |||
Recorded investment, with no related allowance | 198 | 211 | |
Unpaid principal balance, with no related allowance | 198 | 211 | |
Recorded investment, with related allowance | 139 | 175 | |
Unpaid principal balance, with related allowance | 139 | 175 | |
Related allowance | 86 | 90 | |
Recorded investment | 337 | 386 | |
Unpaid principal balance | 337 | 386 | |
Average recorded investment, with no related allowance | 205 | 279 | |
Interest income recognized, with no related allowance | 0 | 2 | |
Average recorded investment, with related allowance | 157 | 975 | |
Interest income recognized, with related allowance | 0 | 20 | |
Average recorded investment | 362 | 1,254 | |
Interest income recognized | 0 | 22 | |
Consumer Portfolio Segment [Member] | |||
Recorded investment, with no related allowance | 512 | 574 | |
Unpaid principal balance, with no related allowance | 512 | 574 | |
Recorded investment, with related allowance | 148 | 176 | |
Unpaid principal balance, with related allowance | 148 | 176 | |
Related allowance | 78 | 100 | |
Recorded investment | 660 | 750 | |
Unpaid principal balance | 660 | 750 | |
Average recorded investment, with no related allowance | 543 | 694 | |
Interest income recognized, with no related allowance | 1 | 5 | |
Average recorded investment, with related allowance | 162 | 196 | |
Interest income recognized, with related allowance | 0 | 2 | |
Average recorded investment | 705 | 890 | |
Interest income recognized | 1 | 7 | |
Commercial Portfolio Segment [Member] | |||
Recorded investment, with related allowance | 37 | 35 | |
Unpaid principal balance, with related allowance | 588 | 586 | |
Related allowance | 12 | 14 | |
Recorded investment | 37 | 35 | |
Unpaid principal balance | 588 | $ 586 | |
Average recorded investment, with related allowance | 36 | 433 | |
Interest income recognized, with related allowance | 0 | 2 | |
Average recorded investment | 36 | 433 | |
Interest income recognized | $ 0 | $ 2 |
Note 9 - Allowance for Loan L_8
Note 9 - Allowance for Loan Losses and Credit Quality Information - Non-accrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Non-accrual loans | $ 2,525 | $ 2,684 |
Residential Portfolio Segment [Member] | ||
Non-accrual loans | 497 | 502 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Non-accrual loans | 1,071 | 1,098 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Non-accrual loans | 337 | 386 |
Consumer Portfolio Segment [Member] | ||
Non-accrual loans | 612 | 689 |
Commercial Portfolio Segment [Member] | ||
Non-accrual loans | $ 8 | $ 9 |
Note 9 - Allowance for Loan L_9
Note 9 - Allowance for Loan Losses and Credit Quality Information - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Troubled debt restructurings | $ 1,560 | $ 1,478 |
Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 432 | 442 |
Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 1,128 | 1,036 |
Residential Portfolio Segment [Member] | ||
Troubled debt restructurings | 608 | 612 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 355 | 355 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 253 | 257 |
Commercial Real Estate Portfolio Segment [Member] | ||
Troubled debt restructurings | 337 | 211 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 337 | 211 |
Consumer Portfolio Segment [Member] | ||
Troubled debt restructurings | 587 | 630 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 49 | 62 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | 538 | 568 |
Commercial Portfolio Segment [Member] | ||
Troubled debt restructurings | 28 | 25 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Troubled debt restructurings | 28 | 25 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | $ 0 | $ 0 |
Note 9 - Allowance for Loan _10
Note 9 - Allowance for Loan Losses and Credit Quality Information - Financial Effects of Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | |
Number of Contracts | 2 | 3 |
Pre- modification Outstanding Recorded Investment | $ 153 | $ 387 |
Post- modification Outstanding Recorded Investment | $ 153 | $ 394 |
Residential Portfolio Segment [Member] | ||
Number of Contracts | 0 | 1 |
Pre- modification Outstanding Recorded Investment | $ 0 | $ 94 |
Post- modification Outstanding Recorded Investment | $ 0 | $ 101 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Other [Member] | ||
Number of Contracts | 1 | 2 |
Pre- modification Outstanding Recorded Investment | $ 139 | $ 293 |
Post- modification Outstanding Recorded Investment | $ 139 | $ 293 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 1 | 0 |
Pre- modification Outstanding Recorded Investment | $ 14 | $ 0 |
Post- modification Outstanding Recorded Investment | $ 14 | $ 0 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Amortization of Intangible Assets, Total | $ 0.3 | $ 0.3 |
Note 10 - Intangible Assets - M
Note 10 - Intangible Assets - Mortgage Servicing Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Balance, beginning of period | $ 3,043 | $ 2,172 | $ 2,172 |
Originations | 368 | 262 | 2,189 |
Amortization | (297) | (228) | (1,318) |
Balance, end of period | 3,114 | 2,206 | 3,043 |
Fair value of mortgage servicing rights | $ 4,073 | $ 2,745 | $ 3,378 |
Note 10 - Intangible Assets - R
Note 10 - Intangible Assets - Risk Characteristics of Loans Being Serviced (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Original Term Thirty Year Fixed Rate [Member] | |
Loan Principal Balance | $ 400,702 |
Weighted Average Interest Rate | 3.55% |
Weighted Average Remaining Term (Month) | 26 years |
Number of Loans | 2,628 |
Original Term Fifteen Year Fixed Rate [Member] | |
Loan Principal Balance | $ 122,675 |
Weighted Average Interest Rate | 2.93% |
Weighted Average Remaining Term (Month) | 11 years 300 days |
Number of Loans | 1,100 |
Note 10 - Intangible Assets - G
Note 10 - Intangible Assets - Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Finite-lived intangible assets, accumulated amortization | $ (3,120) | $ (3,165) |
Finite-lived intangible assets, unamortized intangible assets | 3,146 | |
Goodwill, gross carrying amount | 802 | 802 |
Goodwill, accumulated impairment | 0 | 0 |
Goodwill | 802 | 802 |
Intangible assets (including goodwill), gross carrying amount | 7,068 | 7,067 |
Intangible assets, unamortized intangible assets | 3,948 | 3,902 |
Mortgage Servicing Rights [Member] | ||
Finite-lived intangible assets, gross carrying amount | 5,692 | 5,691 |
Finite-lived intangible assets, accumulated amortization | (2,578) | (2,648) |
Finite-lived intangible assets, unamortized intangible assets | 3,114 | 3,043 |
Core Deposits [Member] | ||
Finite-lived intangible assets, gross carrying amount | 574 | 574 |
Finite-lived intangible assets, accumulated amortization | (542) | (517) |
Finite-lived intangible assets, unamortized intangible assets | $ 32 | $ 57 |
Note 10 - Intangible Assets - E
Note 10 - Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
2021 | $ 672 | |
2022 | 615 | |
2023 | 557 | |
2024 | 508 | |
2025 | 407 | |
Thereafter | 387 | |
Total | 3,146 | |
Mortgage Servicing Rights [Member] | ||
2021 | 650 | |
2022 | 605 | |
2023 | 557 | |
2024 | 508 | |
2025 | 407 | |
Thereafter | 387 | |
Total | 3,114 | $ 3,043 |
Core Deposits [Member] | ||
2021 | 22 | |
2022 | 10 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
Thereafter | 0 | |
Total | $ 32 | $ 57 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) $ in Thousands | Mar. 31, 2021USD ($) |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 1 year 150 days |
Lessee, Operating Lease, Renewal Term (Year) | 3 years |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Month) | 4 years 30 days |
Lessee, Operating Lease, Renewal Term (Year) | 10 years |
Other Assets [Member] | |
Operating Lease, Right-of-Use Asset | $ 3,000 |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 3,034 |
Note 11 - Leases - Operating Le
Note 11 - Leases - Operating Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating lease cost | $ 225 | $ 222 |
Note 11 - Leases - Summary of O
Note 11 - Leases - Summary of Other Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | $ 225 | $ 222 |
Weighted-average remaining lease term – operating leases (Year) | 3 years 182 days | 4 years 182 days |
Weighted-average discount rate – operating leases | 2.19% | 2.19% |
Note 11 - Leases - Maturity of
Note 11 - Leases - Maturity of Remaining Lease Liabilities (Details) $ in Thousands | Mar. 31, 2021USD ($) |
2021 | $ 674 |
2022 | 932 |
2023 | 807 |
2024 | 729 |
2025 | 15 |
2026 and thereafter | 0 |
Total lease payments | 3,157 |
Less: Interest | (123) |
Other Liabilities [Member] | |
Operating Lease, Liability, Total | $ 3,034 |
Note 12 - Earnings Per Common_3
Note 12 - Earnings Per Common Share - Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Weighted average number of common shares outstanding used in basic earnings per common share calculation (in shares) | 4,560,743 | 4,625,908 |
Restricted stock awards and options (in shares) | 28,681 | 27,718 |
Weighted average number of shares outstanding adjusted for effect of dilutive securities (in shares) | 4,589,424 | 4,653,626 |
Net income | $ 3,418 | $ 1,385 |
Basic earnings per share (in dollars per share) | $ 0.75 | $ 0.30 |
Diluted earnings per share (in dollars per share) | $ 0.74 | $ 0.30 |
Note 13 - Regulatory Capital _3
Note 13 - Regulatory Capital and Oversight (Details Textual) $ in Millions | Mar. 31, 2021USD ($) | Mar. 01, 2021 |
Banks Tangible Assets | $ 932 | |
Adjusted Assets | 931.2 | |
Banking Regulation, Risk-Weighted Assets, Actual | $ 666.6 | |
Banking Regulation, Capital Conservation Buffer, Common Equity Tier One Risk-Based Capital, Actual | 0.025 |
Note 13 - Regulatory Capital _4
Note 13 - Regulatory Capital and Oversight - Capital Amounts and Ratios (Details) $ in Thousands | Mar. 31, 2021USD ($) | |
Common equity tier 1 capital, actual amount | $ 93,092 | |
Common equity tier 1 capital, actual percent of asset | 0.1397 | [1] |
Common equity tier 1 capital, amount required to be adequately capitalized | $ 29,997 | |
Common equity tier 1 capital, percent of assets required to be adequately capitalized | 0.045 | [1] |
Common equity tier 1 capital, excess capital amount | $ 63,095 | |
Common equity tier 1 capital, excess capital percent of assets | 0.0947 | [1] |
Common equity tier 1 capital, amount to be well capitalized under prompt corrective action provisions | $ 43,329 | |
Common equity tier 1 capital, percent of assets to be well capitalized under prompt corrective action provisions | 0.065 | [1] |
Tier 1 leverage, actual amount | $ 93,092 | |
Tier 1 leverage, actual percent of asset | 0.1 | [1] |
Tier 1 leverage, amount required to be adequately capitalized | $ 37,250 | |
Tier 1 leverage, percent of assets required to be adequately capitalized | 0.04 | [1] |
Tier 1 leverage, excess capital amount | $ 55,842 | |
Tier 1 leverage, excess capital percent of assets | 0.06 | [1] |
Tier 1 leverage, amount to be well capitalized under prompt corrective action provisions | $ 46,562 | |
Tier 1 leverage, percent of assets to be well capitalized under prompt corrective action provisions | 0.05 | [1] |
Tier 1 risk-based capital, actual amount | $ 93,092 | |
Tier 1 risk-based capital, actual percent of asset | 0.1397 | [1] |
Tier 1 risk-based capital, amount required to be adequately capitalized | $ 39,996 | |
Tier 1 risk-based capital, percent of assets required to be adequately capitalized | 0.06 | [1] |
Tier 1 risk-based capital, excess capital amount | $ 53,096 | |
Tier 1 risk-based capital, excess capital percent of assets | 0.0797 | [1] |
Tier 1 risk-based capital, amount to be well capitalized under prompt corrective action provisions | $ 53,328 | |
Tier 1 risk-based capital, percent of assets to be well capitalized under prompt corrective action provisions | 0.08 | [1] |
Total risk-based capital, actual amount | $ 101,446 | |
Total risk-based capital, actual percent of asset | 0.1522 | [1] |
Total risk-based capital, amount required to be adequately capitalized | $ 53,328 | |
Total risk-based capital, percent of assets required to be adequately capitalized | 0.08 | [1] |
Total risk-based capital, excess capital amount | $ 48,118 | |
Total risk-based capital, excess capital percent of assets | 0.0722 | [1] |
Total risk-based capital, amount to be well capitalized under prompt corrective action provisions | $ 66,660 | |
Total risk-based capital, percent of assets to be well capitalized under prompt corrective action provisions | 0.1 | [1] |
[1] | Based upon the Bank's adjusted total assets for the purpose of the Tier 1 leverage capital ratio and risk-weighted assets for the purpose of the risk-based capital ratios. |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Dividends, Common Stock, Cash | $ 0 | |
Treasury Stock, Value, Acquired, Cost Method | 523 | $ 360 |
New Share Repurchase Program [Member] | ||
Stock Repurchase Program, Authorized Amount | $ 4,000 | |
Treasury Stock, Shares, Acquired (in shares) | 29,400 | |
Treasury Stock, Value, Acquired, Cost Method | $ 500 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Letters of Credit Issued and Available Amount | $ 5,100 |
Loss Contingency, Damages Sought, Value | 1,900 |
Minimum [Member] | |
Loss Contingency, Estimate of Possible Loss | 0 |
Maximum [Member] | |
Loss Contingency, Estimate of Possible Loss | $ 900 |
Note 16 - Business Segments - P
Note 16 - Business Segments - Profit and Assets for the Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Interest income - external customers | $ 7,889 | $ 7,844 | |
Non-interest income - external customers | 3,255 | 2,471 | |
Intersegment interest income | 0 | 0 | |
Intersegment non-interest income | 0 | 0 | |
Interest expense | 453 | 892 | |
Provision for loan losses | (576) | 460 | |
Non-interest expense | 6,479 | 7,001 | |
Income tax expense | 1,370 | 577 | |
Net income | 3,418 | 1,385 | |
Total assets | 971,305 | 784,200 | $ 909,580 |
Consolidation, Eliminations [Member] | |||
Interest income - external customers | 0 | 0 | |
Non-interest income - external customers | 0 | 0 | |
Intersegment interest income | (8) | (1,583) | |
Intersegment non-interest income | (3,652) | (15) | |
Interest expense | (8) | (15) | |
Provision for loan losses | 0 | 0 | |
Non-interest expense | (58) | (59) | |
Income tax expense | 0 | 0 | |
Net income | (3,594) | (1,524) | |
Total assets | (104,531) | (94,612) | |
Home Federal Savings Bank [Member] | Operating Segments [Member] | |||
Interest income - external customers | 7,889 | 7,844 | |
Non-interest income - external customers | 3,254 | 2,471 | |
Intersegment interest income | 0 | 59 | |
Intersegment non-interest income | 58 | 0 | |
Interest expense | 461 | 907 | |
Provision for loan losses | (576) | 460 | |
Non-interest expense | 6,309 | 6,874 | |
Income tax expense | 1,413 | 609 | |
Net income | 3,594 | 1,524 | |
Total assets | 970,641 | 783,615 | |
Other Segments [Member] | Operating Segments [Member] | |||
Interest income - external customers | 0 | 0 | |
Non-interest income - external customers | 1 | 0 | |
Intersegment interest income | 8 | 1,524 | |
Intersegment non-interest income | 3,594 | 15 | |
Interest expense | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Non-interest expense | 228 | 186 | |
Income tax expense | (43) | (32) | |
Net income | 3,418 | 1,385 | |
Total assets | $ 105,195 | $ 95,197 |