QNB CORP, 10-K filed on 3/18/2025
Annual Report
v3.25.1
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 28, 2025
Jun. 30, 2024
Cover [Abstract]      
Entity Registrant Name QNB Corp.    
Trading Symbol QNBC    
Security Exchange Name NONE    
Entity Interactive Data Current Yes    
Title of 12(g) Security Common Stock    
Entity File Number 0-17706    
Entity Incorporation, State or Country Code PA    
Entity Tax Identification Number 23-2318082    
Entity Address, Address Line One 15 North Third Street    
Entity Address, Address Line Two P.O. Box 9005    
Entity Address, City or Town Quakertown    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 18951-9005    
City Area Code 215    
Local Phone Number 538-5600    
Document Annual Report true    
Document Transition Report false    
Entity Emerging Growth Company false    
Entity Small Business true    
Document Type 10-K    
Current Fiscal Year End Date --12-31    
Entity Common Stock, Shares Outstanding   3,701,099  
Entity Public Float     $ 73,795,561
Amendment Flag false    
Entity Central Index Key 0000750558    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Filer Category Non-accelerated Filer    
Entity Well-known Seasoned Issuer No    
Document Period End Date Dec. 31, 2024    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
ICFR Auditor Attestation Flag false    
Auditor Firm ID 23    
Auditor Name Baker Tilly US, LLP    
Auditor Opinion

Opinion on the Financial Statements

 

We have audited the accompanying consolidated balance sheets of QNB Corp. and subsidiary (the "Company") as of December 31, 2024 and 2023, the related consolidated statements of income, comprehensive income (loss), shareholders' equity, and cash flows, for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

    
Auditor Location Allentown, Pennsylvania    
Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE

Portions of registrant’s Proxy Statement for the annual meeting of its shareholders to be held May 20, 2025 are incorporated by reference in Part III of this report.

    
v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 11,369,000 $ 11,447,000
Interest-bearing deposits in banks 39,344,000 51,210,000
Total cash and cash equivalents 50,713,000 62,657,000
Investment securities:    
Available-for-sale (amortized cost $626,391 and $576,178) 546,559,000 490,182,000
Equity securities (cost of $0 and $5,695) 0 5,910,000
Restricted investment in stocks 5,436,000 2,730,000
Loans held-for-sale 664,000 549,000
Loans receivable 1,216,048,000 1,093,533,000
Allowance for loan losses (8,744,000) (8,852,000)
Net loans 1,207,304,000 1,084,681,000
Bank-owned life insurance 11,937,000 11,946,000
Premises and equipment, net 17,255,000 14,952,000
Accrued interest receivable 4,965,000 6,101,000
Net deferred tax assets 18,325,000 19,290,000
Other assets 7,736,000 7,320,000
Total assets 1,870,894,000 1,706,318,000
Deposits    
Demand, non-interest bearing 183,499,000 185,098,000
Interest-bearing demand 537,846,000 462,712,000
Money market 250,293,000 222,843,000
Savings 275,445,000 303,079,000
Time less than $100 178,163,000 149,851,000
Time $100 through $250 156,614,000 121,793,000
Time greater than $250 46,681,000 43,337,000
Total deposits 1,628,541,000 1,488,713,000
Short-term borrowings 53,844,000 94,094,000
Long-term debt 30,000,000 20,000,000
Subordinated debt 39,068,000  
Accrued interest payable 7,580,000 5,294,000
Other liabilities 8,512,000 7,393,000
Total liabilities 1,767,545,000 1,615,494,000
Shareholders' Equity    
Common stock, par value $0.625 per share; authorized 10,000,000 shares; 3,905,302 shares and 3,861,940 shares issued; 3,696,616 and 3,653,254 shares outstanding 2,441,000 2,414,000
Surplus 27,633,000 26,439,000
Retained earnings 139,958,000 133,945,000
Accumulated other comprehensive loss, net of tax (62,646,000) (67,937,000)
Treasury stock, at cost; 208,686 and 208,686 shares (4,037,000) (4,037,000)
Total shareholders' equity 103,349,000 90,824,000
Total liabilities and shareholders' equity $ 1,870,894,000 $ 1,706,318,000
v3.25.1
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Available-for-sale, amortized cost $ 626,391 $ 576,178
Equity securities, cost $ 0 $ 5,695
Common stock, par value (in dollars per share) $ 0.625 $ 0.625
Common stock, shares authorized (in shares) 10,000,000 10,000,000
Common stock, shares issued (in shares) 3,905,302 3,861,940
Common stock, shares outstanding (in shares) 3,696,616 3,653,254
Treasury stock, shares (in shares) 208,686 208,686
v3.25.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income      
Interest and fees on loans $ 65,367 $ 53,884 $ 40,922
Interest and dividends on investment securities (AFS & Equity):      
Taxable 14,090 11,794 9,396
Tax-exempt 1,424 1,460 1,965
Interest on interest-bearing balances and other interest income 3,187 1,944 138
Total interest income 84,068 69,082 52,421
Interest on deposits      
Interest-bearing demand 10,019 7,767 2,691
Money market 8,181 4,823 617
Savings 3,651 4,187 2,175
Time less than $100 6,808 3,194 723
Time $100 through $250 6,570 3,859 489
Time greater than $250 2,247 1,171 209
Interest on short-term borrowings 1,148 3,273 861
Interest on long-term debt 1,322 653 159
Interest on subordinated debt 1,260    
Total interest expense 41,206 28,927 7,924
Net interest income 42,862 40,155 44,497
(Reversal of) provision for credit losses (68) (844) (850)
Net interest income after provision for loan losses 42,930 40,999 45,347
Non-interest income      
Net unrealized (loss) gain on investment equity securities (215) 250 (1,026)
Net gain (loss) on sale of investment securities 919 (2,077) 266
Net gain (loss) on investment securities 704 (1,827) (760)
Fees for services to customers 1,770 1,651 1,614
ATM and debit card 2,740 2,735 2,719
Retail brokerage and advisory 476 862 788
Bank-owned life insurance 332 320 361
Merchant 348 394 394
Net gain on sale of loans 29 16 6
Other 514 686 609
Total non-interest income 6,913 4,837 5,731
Non-interest expense      
Salaries and employee benefits 19,741 19,026 17,306
Net occupancy 2,207 2,223 2,195
Furniture and equipment 3,973 3,602 2,917
Marketing 1,044 964 870
Third party services 2,595 2,422 2,474
Telephone, postage and supplies 505 571 748
State taxes 577 367 1,004
FDIC insurance premiums 1,156 1,058 768
Other 3,686 3,876 3,210
Total non-interest expense 35,484 34,109 31,492
Income before income taxes 14,359 11,727 19,586
Provision for income taxes 2,911 2,244 3,665
Net income $ 11,448 $ 9,483 $ 15,921
Earnings per share - basic $ 3.12 $ 2.63 $ 4.47
Earnings per share - diluted 3.12 2.63 4.47
Cash dividends per share $ 1.48 $ 1.48 $ 1.44
v3.25.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income, Before tax amount $ 14,359 $ 11,727 $ 19,586
Net unrealized holding gain/(loss) on available-for-sale securities:      
Unrealized holding (loss)/gain arising during the period, Before tax amount 5,068 14,638 (98,097)
Reclassification adjustment for loss included in net income, Before tax amount 1,096 2,058 139
Unrealized holding gain/(loss) arising during the period, Tax expense (benefit) 643 3,074 (20,600)
Reclassification adjustment for loss included in net income, Tax expense (benefit) 230 432 29
Unrealized holding gain/(loss) arising during the period, Net of tax amount 4,425 11,564 (77,497)
Reclassification adjustment for loss included in net income, Net of tax amount 866 1,626 110
Net unrealized holding gain/(loss) on fair value hedge:      
Other comprehensive income/(loss), Before tax amount 6,164 16,696 (97,958)
Other comprehensive income/(loss), Tax expense (benefit) 873 3,506 (20,571)
Other comprehensive income/(loss), Net of tax amount 5,291 13,190 (77,387)
Total comprehensive income (loss), Before Tax amount 20,523 28,423 (78,372)
Tax expense (benefit) 2,911 2,244 3,665
Total comprehensive income (loss), Tax expense (benefit) 3,784 5,750 (16,906)
Net income 11,448 9,483 15,921
Total comprehensive income (loss), Net of tax amount $ 16,739 $ 22,673 $ (61,466)
v3.25.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Common Stock [Member]
Common Stock [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Additional Paid-in Capital [Member]
Additional Paid-in Capital [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Retained Earnings [Member]
Retained Earnings [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Retained Earnings [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Treasury Stock [Member]
Treasury Stock [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Balance at Dec. 31, 2021 $ 136,494     $ 2,350   $ 23,683   $ 118,163     $ (3,740)   $ (3,962)  
Balance (in shares) at Dec. 31, 2021       3,553,629                    
Net income 15,921             15,921            
Other comprehensive income, net of tax (77,387)                   (77,387)      
Cash dividends declared (5,133)             (5,133)            
Treasury stock purchase (75)                       (75)  
Treasury stock purchase (in shares)       (2,000)                    
Stock issued in connection with dividend reinvestment and stock purchase plan 917     $ 20   897                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       31,531                    
Stock issued for employee stock purchase plan $ 136     $ 3   133                
Stock issued for employee stock purchase plan (in shares) 5,102     5,102                    
Stock-based compensation expense $ 85         85                
Balance at Dec. 31, 2022 $ 70,958 $ 857 $ 71,815 $ 2,373 $ 2,373 24,798 $ 24,798 128,951 $ 857 $ 129,808 (81,127) $ (81,127) (4,037) $ (4,037)
Balance (in shares) at Dec. 31, 2022       3,588,262                    
Accounting Standards Update [Extensible Enumeration] us-gaap:AccountingStandardsUpdate201613Member                          
Net income $ 9,483             9,483            
Other comprehensive income, net of tax 13,190                   13,190      
Cash dividends declared (5,346)             (5,346)            
Stock issued in connection with dividend reinvestment and stock purchase plan 1,363     $ 36   1,327                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       56,622                    
Stock issued for employee stock purchase plan $ 134     $ 4   130                
Stock issued for employee stock purchase plan (in shares) 6,630     6,630                    
Stock issued for Non-Employee Director Compensation       $ 1   (1)                
Stock issued for Non-Employee Director Compensation (in shares)       1,740                    
Stock-based compensation expense $ 185         185                
Balance at Dec. 31, 2023 $ 90,824     $ 2,414   26,439   133,945     (67,937)   (4,037)  
Balance (in shares) at Dec. 31, 2023 3,653,254     3,653,254                    
Net income $ 11,448             11,448            
Other comprehensive income, net of tax 5,291                   5,291      
Cash dividends declared (5,435)             (5,435)            
Stock issued in connection with dividend reinvestment and stock purchase plan 873     $ 21   852                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       32,963                    
Stock issued for employee stock purchase plan $ 149     $ 4   145                
Stock issued for employee stock purchase plan (in shares) 7,339     7,339                    
Stock issued for Non-Employee Director Compensation       $ 2   (2)                
Stock issued for Non-Employee Director Compensation (in shares)       3,060                    
Stock-based compensation expense $ 199         199                
Balance at Dec. 31, 2024 $ 103,349     $ 2,441   $ 27,633   $ 139,958     $ (62,646)   $ (4,037)  
Balance (in shares) at Dec. 31, 2024 3,696,616     3,696,616                    
v3.25.1
Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
O 2022 A1 Dividends [Member]      
Cash dividends declared, per share (in dollars per share)     $ 1.4
O 2023 A Dividends ]Member]      
Cash dividends declared, per share (in dollars per share)   $ 1.48  
O 2024 A Dividends [Member]      
Cash dividends declared, per share (in dollars per share) $ 1.48    
v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 11,448,000 $ 9,483,000 $ 15,921,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,726,000 1,714,000 1,724,000
(Reversal of provision) provision for credit losses (68,000) (844,000) (850,000)
Net (gain) loss on sales of investment debt and equity securities (919,000) 2,077,000 (266,000)
Net unrealized loss (gain) on equity securities 215,000 (250,000) 1,026,000
Net gain on sale of loans (29,000) (16,000) (6,000)
Proceeds from sales of residential mortgages held-for-sale 1,765,000 989,000 304,000
Origination of residential mortgages held-for-sale (1,851,000) (1,522,000) (298,000)
Increase on bank-owned life insurance (332,000) (320,000) (361,000)
Stock-based compensation expense 199,000 185,000 85,000
Amortization of deferred costs on subordinated debt 56,000    
Deferred income tax provision (benefit) 92,000 52,000 (57,000)
Net increase (decrease) in income taxes payable 539,000 (2,094,000) (534,000)
Net decrease (increase) in accrued interest receivable 1,136,000 (1,063,000) (934,000)
Fair value remeasurements on interest rate swap (44,000) (57,000)  
Amortization of mortgage servicing rights and change in valuation allowance 50,000 61,000 71,000
Net amortization of premiums and discounts on investment securities 1,316,000 1,665,000 2,222,000
Net increase in accrued interest payable 2,286,000 4,827,000 256,000
Operating lease payments (633,000) (626,000) (620,000)
Increase in other assets (991,000) (91,000) (298,000)
Increase (decrease) in other liabilities 256,000 287,000 (550,000)
Net cash provided by operating activities 16,217,000 14,457,000 16,835,000
Investing Activities      
Proceeds from payments, maturities and calls of investment debt securities available-for-sale 64,959,000 50,042,000 72,965,000
Proceeds from the sale of investment securities available-for-sale 13,139,000 33,213,000 7,551,000
Purchases of investment securities available-for-sale (130,679,000) (14,381,000) (35,001,000)
Proceeds from the sale of equity securities 8,880,000 8,556,000 1,594,000
Purchases of equity securities (1,170,000) (2,179,000) (1,860,000)
Proceeds from redemption of investment in restricted bank stock 103,000 7,629,000 5,155,000
Purchase of restricted bank stock (2,809,000) (5,166,000) (9,019,000)
Net increase in loans (122,574,000) (53,910,000) (112,718,000)
Net purchases of premises and equipment (3,516,000) (765,000) (552,000)
Redemption of Bank Owned Life Insurance investment 341,000   239,000
Net cash (used) provided in investing activities (173,326,000) 23,039,000 (71,646,000)
Financing Activities      
Net (decrease) increase in non-interest bearing deposits (1,599,000) (46,751,000) (11,157,000)
Net increase (decrease) in interest-bearing deposits 141,427,000 117,095,000 (20,219,000)
Net (decrease) increase in short-term borrowings (40,250,000) (67,233,000) 92,851,000
Issuance of long-term debt 10,000,000 20,000,000  
Repayment of long-term debt   (10,000,000)  
Issuance of subordinated debt 40,000,000    
Treasury stock purchase     (75,000)
Cash dividends paid, net of reinvestment (4,798,000) (4,671,000) (4,498,000)
Proceeds from issuance of common stock 385,000 822,000 418,000
Net cash provided by (used) by financing activities 145,165,000 9,262,000 57,320,000
(Decrease) increase in cash and cash equivalents (11,944,000) 46,758,000 2,509,000
Cash and cash equivalents at beginning of year 62,657,000 15,899,000 13,390,000
Cash and cash equivalents at end of period 50,713,000 62,657,000 15,899,000
Supplemental Cash Flow Disclosures      
Interest paid 38,920,000 24,100,000 7,668,000
Income taxes paid, net of refunds received 2,278,000 4,286,000 4,257,000
Non-cash transactions:      
Cumulative change in accounting principal   857,000  
Trade-date settlements for matured securities   500,000  
Right-of-use assets obtained in exchange for new operating lease liabilities $ 457,000 $ 369,000 $ 43,000
v3.25.1
Cybersecurity Risk Management, Strategy and Governance
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

ITEM 1C. CYBERSECURITY RISK MANAGEMENT, STRATEGY AND GOVERNANCE

 

QNB maintains comprehensive and continually evolving processes for assessing, identifying, and managing material risks from cybersecurity threats, including any potential unauthorized occurrence on, or conducted through, QNB’s information systems that may result in adverse effects on the confidentiality, integrity, or availability of such systems or any information residing on such systems. The processes relating to cybersecurity threats are integrated into the QNB’s overall risk management processes, which are overseen by the entire board of directors and not delegated to any committee or subcommittee of the board.

As part of the QNB’s overall risk management processes, it has established both the Information Technology Committee and the Information Security Committee. The Technology Committee comprises the executive management team, selected department heads, and the Information Security Officer ("ISO"). The Technology Committee reports to the Board of Directors. The second committee is the Information Security Committee, composed of QNB’s Chief Operating Officer (“COO”), the Information Technology Director, and the ISO. The Information Security Committee reports to QNB’s Audit Committee. QNB’s COO presents a detailed report on information systems and cybersecurity matters to the Board of Directors at least once annually. The Board of Directors also receives and reviews copies of minutes of all meetings of the Audit Committee and the Information Technology Committee. The Audit Committee receives minutes from the Information Security Committee and audit reports related to Technology and Cyber control testing.

QNB Bank’s information technology resources are managed by the Information Technology Department, which is responsible for identifying, assessing, and managing material risks from cybersecurity threats. The present COO, who reports directly to the current President and Chief Executive Officer ("CEO"), has been with QNB Bank for over eight years and has over twenty-five years of experience in banking technology and operations. He has an MBA in Management Information Systems and is a current Certified Information Systems Security Professional. QNB’s IT Director and ISO report directly to the COO. Additionally, the ISO has a reporting line to the Audit Committee to ensure independence and transparency. The Information Technology Department is managed by the IT Director. The present IT Director has been employed by QNB Bank in the information technology area for ten years has been in the technology industry for over fifteen years and holds numerous technology certifications. QNB's ISO, whose responsibilities include security relating to QNB’s information systems, is a Certified Information Systems Security Professional and a Certified Information Security Manager. The ISO, among other duties, supervises internal employee training relating to cybersecurity risks, conducts access reviews relating to QNB’s information systems, and monitors implemented checks and balances relating to access to information. Information relating to cybersecurity risks and cybersecurity incidents, if any, is reported by the COO and the ISO and to both the Information Technology Committee and the Information Security Committees. Additionally, cyber security incidents are reported to QNB’s Board of Directors by the COO no less than quarterly.

QNB maintains an Incident Response Plan that provides documented guidelines for handling potential threats and taking appropriate measures, including timely notification of cybersecurity threats and incidents to senior management and the Board of Directors when appropriate. The Incident Response Plan is managed by the Information Security Committee and is reviewed and tested at least annually.

QNB uses third-party vendors to assist in monitoring, detecting, and managing cyber threats, including managed security service monitoring, penetration testing, and vulnerability assessment. The Information Security Committee has established risk management guidelines for third-party vendors. QNB conducts due diligence reviews of third-party vendors before contracts or agreements for the

provision of services are signed and conducts ongoing due diligence and oversight procedures with the frequency of the procedures determined based on a risk assessment of the services provided. Generally, QNB’s agreements with service providers include cybersecurity and data privacy requirements.. All such agreements are reviewed at least annually. QNB cannot guarantee, however, that such agreements, due diligence, and oversight procedures will prevent a cybersecurity incident from impacting information systems. Moreover, as a result of applicable laws and regulations or applicable contractual provisions, QNB may be held responsible for cybersecurity incidents attributed to its service providers in relation to any data that QNB shares with such providers.

To date, QNB has not experienced any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect QNB, including its business strategy, results of operations, or financial condition. As discussed under “Risk Factors” in Item 1A, however, the sophistication of cybersecurity threats continues to increase, and the preventative actions taken by QNB to reduce the risk of cybersecurity threats or incidents may not be sufficient in a particular circumstance. Accordingly, QNB may not be able to anticipate all cybersecurity breaches no matter how well designed or implemented QNB’s cybersecurity controls and procedures are, and QNB may not be able to implement effective preventive measures against such security breaches in a timely manner.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]

QNB maintains comprehensive and continually evolving processes for assessing, identifying, and managing material risks from cybersecurity threats, including any potential unauthorized occurrence on, or conducted through, QNB’s information systems that may result in adverse effects on the confidentiality, integrity, or availability of such systems or any information residing on such systems. The processes relating to cybersecurity threats are integrated into the QNB’s overall risk management processes, which are overseen by the entire board of directors and not delegated to any committee or subcommittee of the board.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

QNB uses third-party vendors to assist in monitoring, detecting, and managing cyber threats, including managed security service monitoring, penetration testing, and vulnerability assessment. The Information Security Committee has established risk management guidelines for third-party vendors. QNB conducts due diligence reviews of third-party vendors before contracts or agreements for the

provision of services are signed and conducts ongoing due diligence and oversight procedures with the frequency of the procedures determined based on a risk assessment of the services provided. Generally, QNB’s agreements with service providers include cybersecurity and data privacy requirements.. All such agreements are reviewed at least annually. QNB cannot guarantee, however, that such agreements, due diligence, and oversight procedures will prevent a cybersecurity incident from impacting information systems. Moreover, as a result of applicable laws and regulations or applicable contractual provisions, QNB may be held responsible for cybersecurity incidents attributed to its service providers in relation to any data that QNB shares with such providers.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] As part of the QNB’s overall risk management processes, it has established both the Information Technology Committee and the Information Security Committee. The Technology Committee comprises the executive management team, selected department heads, and the Information Security Officer ("ISO"). The Technology Committee reports to the Board of Directors. The second committee is the Information Security Committee, composed of QNB’s Chief Operating Officer (“COO”), the Information Technology Director, and the ISO. The Information Security Committee reports to QNB’s Audit Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] QNB’s COO presents a detailed report on information systems and cybersecurity matters to the Board of Directors at least once annually. The Board of Directors also receives and reviews copies of minutes of all meetings of the Audit Committee and the Information Technology Committee. The Audit Committee receives minutes from the Information Security Committee and audit reports related to Technology and Cyber control testing.
Cybersecurity Risk Role of Management [Text Block] QNB’s IT Director and ISO report directly to the COO. Additionally, the ISO has a reporting line to the Audit Committee to ensure independence and transparency. The Information Technology Department is managed by the IT Director. The present IT Director has been employed by QNB Bank in the information technology area for ten years has been in the technology industry for over fifteen years and holds numerous technology certifications. QNB's ISO, whose responsibilities include security relating to QNB’s information systems, is a Certified Information Systems Security Professional and a Certified Information Security Manager. The ISO, among other duties, supervises internal employee training relating to cybersecurity risks, conducts access reviews relating to QNB’s information systems, and monitors implemented checks and balances relating to access to information.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]

QNB maintains comprehensive and continually evolving processes for assessing, identifying, and managing material risks from cybersecurity threats, including any potential unauthorized occurrence on, or conducted through, QNB’s information systems that may result in adverse effects on the confidentiality, integrity, or availability of such systems or any information residing on such systems. The processes relating to cybersecurity threats are integrated into the QNB’s overall risk management processes, which are overseen by the entire board of directors and not delegated to any committee or subcommittee of the board.

As part of the QNB’s overall risk management processes, it has established both the Information Technology Committee and the Information Security Committee. The Technology Committee comprises the executive management team, selected department heads, and the Information Security Officer ("ISO"). The Technology Committee reports to the Board of Directors. The second committee is the Information Security Committee, composed of QNB’s Chief Operating Officer (“COO”), the Information Technology Director, and the ISO. The Information Security Committee reports to QNB’s Audit Committee. QNB’s COO presents a detailed report on information systems and cybersecurity matters to the Board of Directors at least once annually. The Board of Directors also receives and reviews copies of minutes of all meetings of the Audit Committee and the Information Technology Committee. The Audit Committee receives minutes from the Information Security Committee and audit reports related to Technology and Cyber control testing.

Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The present COO, who reports directly to the current President and Chief Executive Officer ("CEO"), has been with QNB Bank for over eight years and has over twenty-five years of experience in banking technology and operations. He has an MBA in Management Information Systems and is a current Certified Information Systems Security Professional. QNB’s IT Director and ISO report directly to the COO. Additionally, the ISO has a reporting line to the Audit Committee to ensure independence and transparency. The Information Technology Department is managed by the IT Director. The present IT Director has been employed by QNB Bank in the information technology area for ten years has been in the technology industry for over fifteen years and holds numerous technology certifications. QNB's ISO, whose responsibilities include security relating to QNB’s information systems, is a Certified Information Systems Security Professional and a Certified Information Security Manager.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Information relating to cybersecurity risks and cybersecurity incidents, if any, is reported by the COO and the ISO and to both the Information Technology Committee and the Information Security Committees. Additionally, cyber security incidents are reported to QNB’s Board of Directors by the COO no less than quarterly.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure                      
Net Income (Loss) $ 3,051 $ 3,338 $ 2,465 $ 2,594 $ 1,134 $ 2,344 $ 1,887 $ 4,118 $ 11,448 $ 9,483 $ 15,921
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Note 1 - Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Significant Accounting Policies

Note 1 - Summary of Significant Accounting Policies

Business

QNB Corp. (the “Company”), through its wholly-owned subsidiary, QNB Bank (the “Bank”), has been serving the residents and businesses of Bucks, Lehigh, and Montgomery counties in Pennsylvania since 1877. The Bank is a Pennsylvania chartered commercial bank. The Company and the Bank are subject to regulations of certain state and Federal agencies. These regulatory agencies periodically examine the Company and the Bank for adherence to laws and regulations.

Segment Reporting

The Company manages and operates its business as a single operating segment. The segment's financial information is the same as presented in the Consolidated Financial Statements. The segment is locally managed and provides a full range of commercial, retail banking and retail brokerage services. The Company's Banking segment is determined by the President and Chief Executive Officer ("CEO") who is the chief operating decision maker (the "CODM"). The CODM evaluates the financial performance of the Company's business components using consolidated revenue, expenses, balance sheet growth and financial ratios to budget and prior periods to determine the allocation of resources and to measure performance. The CODM utilizes consolidated net income to benchmark the Company against its competitors and peer group. This information is used by the CODM to achieve strategic initiatives and allocate resources. Significant revenues are provided by loans, investments and deposits. Significant expenses include interest expense, the provision for credit losses and payroll.

Basis of Presentation

The Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiary, the Bank. The consolidated entity is referred to herein as “QNB”. All significant inter-company accounts and transactions have been eliminated in the Consolidated Financial Statements.

Tabular information, other than share and per share data, is presented in thousands of dollars. Certain prior period amounts have been reclassified to conform with the current year’s presentation.

Use of Estimates

These statements are prepared in accordance with Accounting Principles Generally Accepted in the United States of America (“US GAAP”) and predominant practices within the banking industry. The preparation of these Consolidated Financial Statements requires QNB to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. QNB evaluates estimates on an on-going basis. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the fair value of financial instruments, impairment of investment securities, the determination of impairment of restricted bank stock and the valuation of deferred tax assets and income taxes. QNB bases its estimates on historical experience and various other factors and assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Significant Group Concentrations of Credit Risk

Most of the QNB’s activities are with customers located within Bucks, Montgomery and Lehigh Counties in southeastern Pennsylvania. Note 4 discusses the types of investment securities in which the QNB invests. Note 5 discusses the types of lending in which QNB engages. QNB does not have any significant concentrations to any one industry or customer other than what is discussed in Note 5. Although QNB has a diversified loan portfolio, its debtors’ ability to honor their contracts is influenced by the region’s economy.

Cash and Cash Equivalents

For purposes of the statement of cash flows, cash and cash equivalents consist of cash on hand, cash items in process of collection, amounts due from banks, interest-bearing deposits in the Federal Reserve Bank and other banks and Federal funds sold. QNB maintains a portion of its interest-bearing deposits at various commercial financial institutions. At times, the balances exceed the FDIC insured limits; QNB has not experienced a loss due to the balances exceeding FDIC limits.

Investment Securities

Investment debt securities that QNB has the positive intent and ability to hold to maturity are classified as held-to-maturity securities and reported at amortized cost. Interest is included in interest income. Debt securities not classified as either held-to-maturity securities or trading securities are classified as available-for-sale debt securities and reported at fair value, with unrealized gains and losses, net of tax, excluded from earnings and reported in other comprehensive income or loss, a separate component of shareholders’ equity. Management determines the appropriate classification of securities at the time of purchase.

Available-for-sale debt securities include securities that management intends to use as part of its asset/liability management strategy and that may be sold in response to changes in credit ratings, changes in market interest rates and related changes in the securities’ prepayment risk or to meet liquidity needs.

Premiums and discounts on debt securities are recognized in interest income using a constant yield method. Gains and losses on sales of available-for-sale securities are recorded on the trade date and are computed on the specific identification method and included in non-interest income.

Equity investments with readily determinable fair values are measured at fair value. The changes in fair value are recognized in net income. Dividends are included in interest income.

Impairment of Investment Securities

Securities are evaluated periodically to determine whether a decline in their value is impairment. Management utilizes criteria such as the magnitude and duration of the decline, in addition to the reasons underlying the decline, to determine whether the loss in value is impairment. The term impairment is not intended to indicate that the decline is permanent, it indicates that the prospect for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. For equity securities that do not have readily-determinable fair values, once a decline in value is determined to be impairment, the value of the equity security is reduced and a corresponding charge to earnings is recognized.

QNB follows the accounting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 326-30 as it relates to the recognition and presentation of impairment. This accounting guidance specifies that (a) if a company does not have the intent to sell a debt security prior to recovery and (b) it is more likely than not that it will not have to sell the debt security prior to recovery, the security would not be considered impaired unless there is a credit loss. When an entity does not intend to sell the security, and it is more likely than not, the entity will not have to sell the security before recovery of its cost basis, it will recognize the credit component of an impairment of a debt security in earnings and the remaining portion in other comprehensive income.

Derivatives and Hedges

The fair value hedges are accounted for under Derivatives and Hedging (Topic 815). QNB adopted ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging--Portfolio Layer Method ("ASC 2022-01") as of January 1, 2023. ASC 2022-01 allows for the use of an amortizing notional swap when entering a portfolio layer method hedge. This guidance allows the interest rate swap to be considered a hedge of a single layer of portfolio. QNB's risk management objective with respect to derivative financial instruments is to hedge the risk of changes in the fair value of certain fixed-rate investment securities, included in a closed portfolio, for changes in the Secured Overnight Financing Rate ("SOFR"). The changes in the fair value of each derivative financial instrument is reported in accumulated other comprehensive (loss) income, net of tax, and are reclassified to interest income as interest payments are made or received on the hedged portfolios. QNB assesses the effectiveness of each hedging relationship using a regression analysis of prior periodic changes in fair value of both the hedge and the hedged item. In the assessment of hedge effectiveness, QNB considers the likelihood of the counterparty's compliance with the contractual terms of the hedging derivative that could require the counterparty to make payments (counterparty default risk). If the likelihood that the counterparty will not default ceases to be probable, the hedge may no longer be highly effective and hedge ineffectiveness due to counterparty payment risk will be assessed.

Restricted Investment in Stock

Restricted stock is comprised of Federal Home Loan Bank of Pittsburgh (“FHLB”) in the amount of $3,510,000, the Atlantic Community Bankers Bank in the amount of $12,000, VISA Class B-2 stock with a carrying cost of $0, and Senior Housing Crime Prevention Investment Corporation ("SHCPFIC") preferred stock of $1,000,000 at December 31, 2024. Federal law requires a member institution of the FHLB to hold stock of its district bank according to a predetermined formula. These restricted securities are carried at cost and evaluated for impairment periodically. As of December 31, 2024, there was no impairment associated with these securities.

 

The Bank has a $914,000 non-controlling investment in a discrete class of non-voting limited liability company membership interests

issued by National Energy Improvement Fund, LLC (“NEIF”), a Pennsylvania limited liability company licensed in Pennsylvania as a

consumer discount company. The proceeds of the investment will be used by NEIF to fund a State-sponsored consumer loan program,

the KEEP Home Energy Loan Program, designed to assist Pennsylvania homeowners in reducing their energy costs.
 

The Bank owns 3,251 shares of Visa Class B-2 stock post conversion of its original Class B shares, which was necessary to participate in Visa services in support of the Bank’s credit card, debit card, and related payment programs (permissible activities under banking regulations) as a member institution. Following the resolution of Visa’s covered litigation, shares of Visa’s Class B-2 stock will be converted to Visa Class A shares using a conversion factor (1.5430 as of September 26, 2024), which is periodically adjusted to reflect VISA’s ongoing litigation costs. There is a very limited market for this stock, as only current owners of Class B-2 shares are permitted to transact in Class B-2. Due to the lack of orderly trades and public information of such trades, Visa Class B-2 does not have a readily determinable fair value.

The Bank owns 100 shares of preferred stock of SHCPFIC. These shares are not transferable without the consent of SHCPFIC and does not have a readily determinable fair value.

Loans

Loans are segmented and reported on a pool basis with similar risk characteristics; these segments or pools are identified in Note 5. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are stated at the principal amount outstanding, net of deferred loan fees and costs. Interest income is accrued on the principal amount outstanding. Loan origination and commitment fees net of related direct costs are deferred and amortized to income over the term of the respective loan and loan commitment period as a yield adjustment.

Loans held-for-sale consist of residential mortgage loans and are carried at the lower of aggregate cost or fair value. Net unrealized losses, if any, are recognized through a valuation allowance charged to income. Gains and losses on residential mortgages held-for-sale are included in non-interest income.

Non-Performing Assets

Non-performing assets are comprised of accruing loans past due 90 days or more, non-accrual loans and investment securities, other real estate owned and repossessed assets. Non-accrual loans and investment securities are those on which the accrual of interest has ceased. Loans are placed on non-accrual status immediately if, in the opinion of management, collection is doubtful, or when principal or interest is past due 90 days or more and collateral is insufficient to cover principal and interest. Interest accrued, but not collected at the date a loan is placed on non-accrual status, is reversed and charged against interest income. Loans are returned to an accrual status when the borrower’s ability to make periodic principal and interest payments has returned to normal (i.e. brought current with respect to principal or interest or restructured) and the paying capacity of the borrower and/or the underlying collateral is deemed sufficient to cover principal and interest.

Since the implementation of ASU 326 on January 1, 2023, loan modifications to borrowers experiencing financial difficulty ("FDM") could involve principal forgiveness, term extension, an other-than-insignificant payment delay, interest rate reduction or exchanging or paying off existing debt for new debt with QNB. Any amount forgiven would be charged to the allowance for credit losses. There were $1,000,000 and $0 FDMs at December 31, 2024 and 2023, respectively.

 

Accounting for impairment in the performance of a loan is required when it is probable that all amounts, including both principal and interest, will not be collected in accordance with the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, at the loan’s observable market price or the fair value of the collateral if the loans are collateral dependent. Impairment criteria are applied to the loan portfolio exclusive of smaller homogeneous loans such as residential mortgage and consumer loans which are evaluated collectively for impairment.

Loans are fully charged-off or charged down to net realizable value (fair value of collateral less estimated costs to sell) when deemed uncollectible due to bankruptcy or other factors, or when they reach a defined number of days past due based on loan product, industry practice, terms and other factors.

Loans are considered past due when contractually required principal or interest payments have not been made on the due dates.

Allowance for Credit Losses on Loans and Commitments

QNB maintains an allowance for credit losses on loans ("ACL") , which is intended to absorb probable known and inherent losses in the outstanding loan portfolio. QNB utilizes the Cohort method to calculate its ACL. QNB elected not to measure an allowance for credit losses on accrued interest receivable. The allowance is reduced by actual credit losses and is increased or decreased by the provision (reversal) for loan losses and increased by recoveries of previous losses. The provisions or reversals for credit losses are charged to earnings to bring the total allowance for credit losses on loans to a level considered necessary by management. QNB estimates the ACL via a quantitative analysis and qualitative factors both which consider relevant available information from internal and external sources related to past events and current conditions, as well as the incorporation of reasonable and supportable forecasts.

 

The level of the ACL is determined by assigning specific reserves to all non-accrual loans, except the homogeneous pool of student loans which are measured in the general reserve. An allowance on these non-accrual loans is established when the discounted cash flows (or collateral value) of the loan is lower than the carrying value of that loan. The portion of the allowance that is allocated to non-accrual loans is determined by estimating the inherent loss on each credit after giving consideration to the value of underlying collateral.

 

The general reserve is measured on a pool basis when similar risk characteristics exist; these pools are identified in Note 5. QNB establishes a general valuation allowance for performing loans, including non-accrual student loans. QNB calculates each pool's or segment's historical loss rate using a full economic cycle of loan balance and historical loss experience. The general component is adjusted for qualitative factors. These qualitative risk factors include:

 

1.
Concentrations: QNB adjusts historic loss for concentrations in the current portfolio that were not present during the down-turn of the economic cycle.
2.
Economic Forecast: The QNB utilizes an entire economic cycle of data to determine loss rates by segment. This approach reflects an inherent reversion to the historical losses during life of the loans within the pool considering prepayments and loss experience throughout an entire economic cycle. However, QNB feels it is prudent to maintain a floor in its ACL model to assure that there is enough reserve on hand to sustain any losses upon a possible recession.

 

Management emphasizes loan quality and close monitoring of potential problem credits. Credit risk identification and review processes are utilized in order to assess and monitor the degree of risk in the loan portfolio. QNB’s lending and credit administration staff are charged with reviewing the loan portfolio and identifying changes in the economy or in a borrower’s circumstances which may affect the ability to repay debt or the value of pledged collateral. A loan classification and review system exists that identifies those loans with a higher than normal risk of collectability. Each commercial loan is assigned a grade based upon an assessment of the borrower’s financial capacity to service the debt and the presence and value of collateral for the loan. An independent firm reviews risk assessment and evaluates the adequacy of the ACL. Management meets monthly to review the credit quality of the loan portfolio and quarterly to review the ACL.

 

In addition, various regulatory agencies, as an integral part of their examination process, periodically review QNB's ACL. Such agencies may require QNB to recognize additions to the allowance based on their judgments using information available to them at the time of their examination.

 

Management believes that it uses the best information available to make determinations about the adequacy of the allowance and that it has established its existing ACL in accordance with U.S. GAAP. If circumstances differ substantially from the current calculation, future adjustments to the ACL may be necessary and results of operations could be affected. Because future events affecting borrowers and collateral cannot be predicted with certainty, there can be no assurance that increases to the allowance will not be necessary should the quality of any loans deteriorate.

 

QNB uses the same lending standards and policies in making credit commitments as it does for on-balance sheet instruments. The activity is controlled through credit approvals, control limits, and monitoring procedures. QNB applies the resulting loss factors under the allowance for credit losses on loans to its unused commitments, assuming: additional funding for commercial lines up to the average line usage for non-pass rated lines with no current usage; and, additional funding up to the average line usage for retail lines with no current usage.


Transfers of Financial Assets

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from QNB, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) QNB does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Servicing Assets

Servicing assets are recognized as separate assets when rights are acquired through the sale of financial assets. When mortgage loans are sold, a portion of the cost of originating the loan is allocated to the servicing rights based on relative fair value. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The Company subsequently measures servicing rights using the amortization method where servicing rights are amortized in proportion to and over the period of estimated net servicing income. On a quarterly basis, an independent third party determines the fair value of QNB’s servicing assets. These assets are evaluated for impairment based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranches. If QNB later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the valuation allowance may be recorded as an increase to income. Capitalized servicing rights are reported in other assets and are amortized into other non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets.

Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan and are recorded as other non-interest income when earned and netted against the amortization of mortgage servicing rights.

Premises and Equipment

Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are calculated principally on an accelerated or straight-line basis over the estimated useful lives of the assets, or the shorter of the estimated useful life or lease term for leasehold improvements, as follows:

 

Buildings

 

10 to 39 years

Furniture and equipment

 

3 to 15 years

Leasehold improvements

 

5 to 30 years

 

Expenditures for maintenance and repairs are charged to operations as incurred. Gains or losses upon disposition are reflected in earnings as realized.

 

The “Premises and equipment, net” category on the Consolidated Balance Sheets also includes the right-of-use assets associated with operating leases. The discount rates used in determining the initial value of the right of use assets are based on the FHLB Amortizing Fixed Loan Rate for the term of each lease. QNB typically enters into lease agreements with an initial term of 5 to 10 years and subsequent additional optional terms in increments of 5 years. The lease agreements also contain termination options. None of the leases contain purchase options and none transfer the ownership of the leased asset. QNB has renewed two operating leases during 2024. Operating lease liabilities are included with “Other liabilities” on the Consolidated Balance Sheets. All operating lease costs are included in non-interest expense within “Net occupancy” on the Consolidated Statements of Income. QNB performs an impairment analysis on it right-of-use asset on an annual basis; there were no impairments at December 31, 2024.

 

Bank-Owned Life Insurance

The Bank invests in bank-owned life insurance (“BOLI”) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by the Bank on a select group of employees. The Bank is the owner and beneficiary of the policies. Income from the increase in cash surrender value of the policies as well as the receipt of death benefits is included in non-interest income on the Consolidated Statements of Income. The BOLI policies are an asset that can be liquidated, if necessary, with associated tax costs. However, the Bank intends to hold these policies and, accordingly, has not provided for deferred income taxes on the earnings from the increase in cash surrender value.

The Bank follows the accounting guidance for postretirement benefit aspects of endorsement split-dollar life insurance arrangements which applies to life insurance arrangements that provide an employee with a specified benefit that is not limited to the employee’s active service period, including certain bank-owned life insurance policies. It requires an employer to recognize a liability and related compensation costs for future benefits that extend to postretirement periods. The expense recorded during 2024, 2023 and 2022 was approximately $25,000, $56,000 and $118,000, respectively, and is included in non-interest expense under "Salaries and employee benefits" expense.

Stock-Based Compensation

At December 31, 2024, QNB sponsored 2015 Stock Incentive Plan (the "2015 Plan"), administered by a Board committee, under which both qualified and non-qualified stock options may be granted periodically to certain employees. QNB accounts for all awards granted under stock-based compensation plans in accordance with FASB ASC 718, Compensation - Stock Compensation. Compensation cost has been measured using the fair value of an award on the grant date and is recognized over the service period, which is usually the vesting period.

Stock-based compensation expense related to the 2015 Plan was approximately $87,000, $90,000 and $70,000 for the years ended December 31, 2024, 2023 and 2022, respectively. There were $4,000, $3,000 and $2,000 in tax benefits recognized related to the nonqualified compensation and disqualifying dispositions for the years ended December 31, 2024, 2023 and 2022, respectively.

The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the option and each vesting date. QNB estimated the fair value of stock options on the date of the grant using the Black-Scholes option pricing model. The model requires the use of numerous assumptions, many of which are highly subjective in nature. The following assumptions were used in the option pricing model in determining the fair value of options granted during the periods presented.

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Risk free interest rate

 

 

3.98

%

 

 

3.64

%

 

 

1.25

%

Dividend yield

 

 

5.97

%

 

 

4.80

%

 

 

3.64

%

Volatility

 

 

20.96

%

 

 

20.36

%

 

 

22.68

%

Expected life (years)

 

 

8.19

 

 

 

8.35

 

 

 

4.05

 

 

The weighted average fair value per share of options granted during 2024, 2023 and 2022 was $3.08, $4.11 and $5.20, respectively. The risk-free interest rate was selected based upon yields of U.S. Treasury issues with a term equal to the expected life of the option being valued. Historical information was the primary basis for the selection of the expected dividend yield, expected volatility and expected lives of the options.

Income Taxes

QNB accounts for income taxes under the asset/liability method in accordance with income tax accounting guidance, ASC 740 - Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established against deferred tax assets when, in the judgment of management, it is more likely than not that such deferred tax assets will not become available. Because the judgment about the level of future taxable income is dependent to a great extent on matters that may, at least in part, be beyond QNB’s control, it is at least reasonably possible that management’s judgment about the need for a valuation allowance for deferred taxes could change in the near term.

In connection with the accounting guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions, QNB has evaluated its tax positions as of December 31, 2024. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has more than a 50 percent likelihood of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more-likely-than-not” threshold guidelines, QNB believes no significant uncertain tax positions exist, either individually or in the aggregate, which would give rise to the non-recognition of an existing tax benefit. As of December 31, 2024, QNB had a valuation allowance of $172,000 for unrecognized tax benefits related to non-qualified stock option expense and a state net operating loss as discussed in Note 12. As of December 31, 2024 QNB had no interest expense and no tax penalties. QNB’s policy is to account for interest as a component of interest expense and penalties as a component of other expense. The Company and its subsidiary are subject to U.S. Federal income tax as well as income tax of the Commonwealth of Pennsylvania and the State of New Jersey. Tax years from 2021 to date remain subject to examination by the tax authorities.

Treasury Stock

Common stock shares repurchased are recorded as treasury stock at cost.

Earnings Per Share

Basic earnings per share excludes any dilutive effects of options and is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share gives effect to all dilutive potential common shares that were outstanding during the period. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.

Treasury shares are not deemed outstanding for earnings per share calculations.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity of a business entity during a period due to transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. Comprehensive income (loss) consists of net income and other comprehensive income (loss). For QNB, the primary component of other comprehensive income (loss) is the unrealized holding gains or losses on available-for-sale investment securities.

Advertising Costs

Advertising costs are recorded in the period they are incurred within operating expenses in non-interest expense in the Consolidated Statements of Income.

Financial Instruments with Off-Balance-Sheet Risk

QNB’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of these instruments. QNB uses the same credit policies in making commitments and contractual obligations as it does for on-balance-sheet instruments. QNB reflects its estimate of credit risk for these instruments in “Other liabilities” on the Consolidated Balance Sheet with the corresponding expense recorded in “Provision for credit losses” in the Consolidated Statements of Income.

Subsequent Events

QNB has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2024 through the date the Consolidated Financial Statements are being issued for items that should potentially be recognized or disclosed in these Consolidated Financial Statements. QNB identified the following event:

QNB identified additional weakness in a large commercial relationship that was reported as Substandard at December 31, 2024, primarily caused by continued delays in obtaining necessary approvals from the Department of Environmental Protection. The customer's loans totaled $6,695,000 and had unused commitments of $3,306,000 which comprised mostly for the construction of a commercial property. The relationship was placed on non-accrual status in March 2025. Although the relationship is sufficiently collateralized, QNB is in the process of securing additional collateral to support the customers obligations as they await approvals to move forward on the construction of the project.

Recent Accounting Pronouncements

 

In November 2023, the the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Segment Reporting (Topic 280); Improvements to Reportable Segment Disclosures (ASU 2023-07). ASU 2023-07 enhances segment reporting which includes requiring an entity with a single reportable segment to report additional disclosures about how its chief operating decision maker utilizes information to assess segment performance and allocate resources. ASU 2023-07 was effective for fiscal years beginning after December 15, 2023. QNB adopted ASU 2023-07 as of December 31, 2024 on a retrospective basis. There was no impact to QNB's consolidated financial statements and only minimal additional disclosures.

 

 

On March 6, 2024, the Securities and Exchange Commission (SEC) adopted final rules requiring registrants to disclose climate-related information in registration statements and annual reports. These enhanced and standardized disclosures requires that an entity with a signle reportable segment include material climate-related risks, board oversight and risk management activities descriptions, material impacts of these risks on a registrant’s strategy, business model and outlook, and any material climate-related targets or goals.

 

On June 26, 2024, the FASB voted to issue final rules this year that will require public companies to provide enhanced detailed information about their income statement expenses. Companies will be required to break out certain expense items, such as employee compensation and purchases of inventory, in footnotes to their income statements. The standard will apply to fiscal years that start after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption will be permitted prospectively for the disclosure requirements, with optional retrospective application, for both interim and year-end reporting periods

 

In December 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amendments in this ASU enhance the rate reconciliation and income taxes paid disclosures improving the transparency of income tax disclosures and require: (1) consistent categories and greater disaggregation of information in the rate reconciliation; and (2) income taxes paid disaggregated by jurisdiction. This ASU is effective for the Company's reporting periods beginning after December 15, 2024. The Company does not expect the adoption of this ASU will have a material impact on it's financial statements.
v3.25.1
Note 2 - Earnings Per Share and Share Repurchase Plan
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share and Share Repurchase Plan

Note 2 – Earnings Per Share and Share Repurchase Plan

The following table sets forth the computation of basic and diluted earnings per share:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Numerator for basic and diluted earnings per share - net income

 

$

11,448

 

 

$

9,483

 

 

$

15,921

 

Denominator for basic earnings per share - weighted average shares
   outstanding

 

 

3,672,251

 

 

 

3,610,713

 

 

 

3,564,481

 

Effect of dilutive securities - employee stock options

 

 

1,446

 

 

 

—

 

 

 

—

 

Denominator for diluted earnings per share - adjusted weighted
   average shares outstanding

 

 

3,673,697

 

 

 

3,610,713

 

 

 

3,564,481

 

Earnings per share - basic

 

$

3.12

 

 

$

2.63

 

 

$

4.47

 

Earnings per share - diluted

 

$

3.12

 

 

$

2.63

 

 

$

4.47

 

 

There were 97,275, 121,550, and 109,150 stock options that were anti-dilutive as of December 31, 2024, 2023, and 2022 respectively. These stock options were not included in the above calculation.

QNB’s current stock repurchase plan was originally approved by the Board of Directors on January 21, 2008 and authorized the repurchase of up to 50,000 shares, increased the amount on February 9, 2009 to 100,000 shares, and subsequently increased on April 27, 2021 up to 200,000 shares of its common stock in the open market or privately negotiated transactions. The repurchase authorization has no termination date. There were no shares purchased during the years ended December 31, 2024 and 2023, and 2,000 shares purchased during the year ended December 31, 2022. As of December 31, 2024, 102,000 shares were purchased under this authorization at an average price of $24.93 and a total cost of $2,543,000 and were recorded to Treasury stock.
v3.25.1
Note 3 - Cash and Cash Equivalents
 12 Months Ended
Dec. 31, 2024
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents

Note 3 – Cash and Cash Equivalents

Included in cash and cash equivalents are deposits with the Federal Reserve Bank of Philadelphia. As of December 31, 2024 and 2023, QNB was not required to maintain reserves with the Federal Reserve Bank of Philadelphia. At December 31, 2024 and 2023, there was $0 and $1,850,000, respectively, held as collateral against the fair value hedge held a correspondent bank.
v3.25.1
Note 4 - Investment Securities
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

Note 4 - Investment Securities

Available-For-Sale Debt Securities

The amortized cost and fair values of investment debt securities available-for-sale at December 31, 2024 and 2023 were as follows:

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

 

unrealized

 

 

unrealized

 

 

unrealized

 

 

 

 

 

 

Fair

 

 

holding

 

 

holding

 

 

fair value

 

 

Amortized

 

December 31, 2024

 

value

 

 

gains

 

 

losses

 

 

hedge gains

 

 

cost

 

U.S. Treasuries

 

$

18,010

 

 

$

6

 

 

$

—

 

 

$

—

 

 

$

18,004

 

U.S. Government agency

 

 

66,908

 

 

 

—

 

 

 

(9,051

)

 

 

—

 

 

 

75,959

 

State and municipal

 

 

86,352

 

 

 

—

 

 

 

(20,631

)

 

 

1,566

 

 

 

105,417

 

U.S. Government agencies and sponsored
   enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

198,510

 

 

 

—

 

 

 

(38,902

)

 

 

3,264

 

 

 

234,148

 

Collateralized mortgage obligations (CMOs)

 

 

161,646

 

 

 

31

 

 

 

(15,821

)

 

 

—

 

 

 

177,436

 

Corporate debt and money market funds

 

 

15,133

 

 

 

10

 

 

 

(304

)

 

 

—

 

 

 

15,427

 

Total investment securities available-for-sale

 

$

546,559

 

 

$

47

 

 

$

(84,709

)

 

$

4,830

 

 

$

626,391

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

 

unrealized

 

 

unrealized

 

 

unrealized

 

 

 

 

 

 

Fair

 

 

holding

 

 

holding

 

 

fair value

 

 

Amortized

 

December 31, 2023

 

value

 

 

gains

 

 

losses

 

 

hedge losses

 

 

cost

 

U.S. Treasuries

 

$

6,451

 

 

$

3

 

 

$

—

 

 

$

—

 

 

$

6,448

 

U.S. Government agency

 

 

74,122

 

 

 

—

 

 

 

(10,828

)

 

 

—

 

 

 

84,950

 

State and municipal

 

 

89,189

 

 

 

—

 

 

 

(18,714

)

 

 

(445

)

 

 

108,348

 

U.S. Government agencies and sponsored
   enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

224,238

 

 

 

—

 

 

 

(37,831

)

 

 

(1,304

)

 

 

263,373

 

Collateralized mortgage obligations (CMOs)

 

 

89,973

 

 

 

—

 

 

 

(16,383

)

 

 

—

 

 

 

106,356

 

Corporate debt

 

 

6,209

 

 

 

2

 

 

 

(496

)

 

 

—

 

 

 

6,703

 

Total investment securities available-for-sale

 

$

490,182

 

 

$

5

 

 

$

(84,252

)

 

$

(1,749

)

 

$

576,178

 

 

The amortized cost and fair value of debt securities available-for-sale by contractual maturity at December 31, 2024 are shown in the following table. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities are assigned to categories based on contractual maturity except for state and municipal securities which are based on pre-refunded date, if applicable; and, mortgage-backed securities and CMOs which are dependent upon the interest rate environment and prepayments of the underlying loans.

 

 

 

 

 

 

 

Amortized

 

December 31, 2024

 

Fair value

 

 

cost

 

Due in one year or less

 

$

18,247

 

 

$

18,231

 

Due after one year through five years

 

 

61,991

 

 

 

68,542

 

Due after five years through ten years

 

 

45,479

 

 

 

50,445

 

Due after ten years

 

 

60,686

 

 

 

77,589

 

 

 

 

186,403

 

 

 

214,807

 

Mortgage-backed securities

 

 

198,510

 

 

 

234,148

 

Collateralized mortgage obligations

 

 

161,646

 

 

 

177,436

 

Total investment securities available-for-sale

 

$

546,559

 

 

$

626,391

 

 

Proceeds from sales of investment debt securities available-for-sale were $13,139,000, $33,213,000 and $7,551,000 for the years ended December 31, 2024, 2023 and 2022, respectively.

The following table presents information related to QNB’s gains and losses on the sales of debt securities, and losses recognized for credit impairments of these investments.

 

December 31,

 

2024

 

 

2023

 

 

2022

 

Gross realized gains

 

$

—

 

 

$

—

 

 

$

8

 

Gross realized losses

 

 

(1,096

)

 

 

(2,058

)

 

 

(147

)

Impairment

 

 

—

 

 

 

—

 

 

 

—

 

Total net losses on available-for-sale securities

 

$

(1,096

)

 

$

(2,058

)

 

$

(139

)

 

 

The tax benefit applicable to the net realized losses on debt securities was $230,000 for the year ended December 31, 2024. The tax benefit applicable to the net realized losses on debt securities was $432,000 for the year ended December 31, 2023. The tax benefit applicable to the net realized losses on debt securities was $29,000 for the year ended December 31, 2022.

There were no credit impairment charges recognized for debt securities still held by QNB for the years ended December 31, 2024, 2023 or 2022. The cumulative credit-related impairment charges for debt securities still held by QNB was $1,000.

 

At December 31, 2024 and 2023, investments in debt securities available-for-sale totaling $241,586,000 and $289,935,000, respectively, were pledged as collateral for repurchase agreements and deposits of public funds.

 

Debt securities that have been in a continuous unrealized loss position are as follows:

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasuries

 

 

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

U.S. Government agency

 

 

35

 

 

 

—

 

 

 

—

 

 

 

75,959

 

 

 

(9,051

)

 

 

75,959

 

 

 

(9,051

)

State and municipal

 

 

188

 

 

 

288

 

 

 

(2

)

 

 

84,471

 

 

 

(20,629

)

 

 

84,759

 

 

 

(20,631

)

U.S. Government agencies
   and sponsored enterprises
   (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

153

 

 

 

1

 

 

 

—

 

 

 

234,073

 

 

 

(38,902

)

 

 

234,074

 

 

 

(38,902

)

Collateralized mortgage
   obligations (CMOs)

 

 

154

 

 

 

83,026

 

 

 

(262

)

 

 

78,569

 

 

 

(15,559

)

 

 

161,595

 

 

 

(15,821

)

Corporate debt and money markets

 

 

7

 

 

 

10,672

 

 

 

(28

)

 

 

4,275

 

 

 

(276

)

 

 

14,947

 

 

 

(304

)

Total

 

 

537

 

 

$

93,987

 

 

$

(292

)

 

$

477,347

 

 

$

(84,417

)

 

$

571,334

 

 

$

(84,709

)

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasuries

 

 

1

 

 

$

494

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

494

 

 

$

—

 

U.S. Government agency

 

 

39

 

 

 

—

 

 

 

—

 

 

 

74,122

 

 

 

(10,828

)

 

 

74,122

 

 

 

(10,828

)

State and municipal

 

 

191

 

 

 

380

 

 

 

—

 

 

 

89,238

 

 

 

(18,714

)

 

 

89,618

 

 

 

(18,714

)

U.S. Government agencies
   and sponsored enterprises
   (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

165

 

 

 

1

 

 

 

—

 

 

 

225,500

 

 

 

(37,831

)

 

 

225,501

 

 

 

(37,831

)

Collateralized mortgage
   obligations (CMOs)

 

 

126

 

 

 

—

 

 

 

—

 

 

 

89,973

 

 

 

(16,383

)

 

 

89,973

 

 

 

(16,383

)

Corporate debt

 

 

4

 

 

$

—

 

 

$

—

 

 

$

6,101

 

 

$

(496

)

 

$

6,101

 

 

$

(496

)

Total

 

 

526

 

 

$

875

 

 

$

—

 

 

$

484,934

 

 

$

(84,252

)

 

$

485,809

 

 

$

(84,252

)

 

Management evaluates debt securities, which are comprised of U.S. Government Agencies, state and municipalities, mortgage-backed securities, CMOs and other issuers, for impairment and considers the current economic conditions, the length of time and the extent to which the fair value has been less than cost, interest rates and the bond rating of each security. The unrealized losses at December 31, 2024 in U.S. Government securities, state and municipal securities, mortgage-backed securities, CMOs and corporate debt securities are primarily the results of interest rate fluctuations. If held to maturity, these bonds will mature at par, and QNB will not realize a loss. QNB has the intent to hold the securities and does not believe it will be required to sell the securities before recovery occurs.

 

 

Marketable Equity Securities

QNB’s equity securities consist of investments with readily determinable fair values in large cap stock companies. At December 31, 2024 and 2023, QNB had $0 and $5,910,000, respectively, in equity securities recorded at fair value. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during 2024, 2023 and 2022:

 

December 31,

 

2024

 

 

2023

 

 

2022

 

Net gain (loss) recognized during the period on equity securities

 

$

1,800

 

 

$

231

 

 

$

(621

)

Less: Net gain (loss) recognized during the period on equity securities sold during the period

 

 

2,015

 

 

 

(19

)

 

 

405

 

Net unrealized (loss) gain recognized during the reporting period on equity securities still held at the reporting date

 

$

(215

)

 

$

250

 

 

$

(1,026

)

 

Tax expense applicable to the net realized gains for the year ended December 31, 2024 was $499,000. Tax expense applicable to the net realized gains for the year ended December 31, 2023 was $67,000. Tax benefit applicable to the net realized losses for the year ended December 31, 2022 was $179,000. Proceeds from sale of investment equity securities were $8,880,000, $8,556,000 and $1,594,000 for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.1
Note 5 - Loans Receivable and the Allowance for Credit Losses on Loans
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Loans Receivable and the Allowance for Credit Losses on Loans

Note 5 - Loans Receivable and the Allowance for Credit Losses on Loans

Major classes of loans are as follows:

 

December 31,

 

2024

 

 

2023

 

Commercial:

 

 

 

 

 

 

Commercial and industrial

 

$

153,187

 

 

$

137,086

 

Construction and land development

 

 

129,464

 

 

 

116,173

 

Real estate secured by multi-family properties

 

 

137,461

 

 

 

109,193

 

Real estate secured by owner-occupied properties

 

 

163,955

 

 

 

160,695

 

Real estate secured by other commercial properties

 

 

313,390

 

 

 

265,101

 

Revolving real estate secured by 1-4 family properties-business

 

 

5,652

 

 

 

5,442

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

105,779

 

 

 

103,572

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

3,238

 

 

 

3,445

 

State and political subdivisions

 

 

17,683

 

 

 

18,708

 

Retail:

 

 

 

 

 

 

1-4 family residential mortgages

 

 

114,423

 

 

 

108,906

 

Revolving home equity secured by 1-4 family properties-personal

 

 

48,231

 

 

 

34,231

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

6,561

 

 

 

11,981

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

14,092

 

 

 

15,625

 

Student loans

 

 

1,444

 

 

 

1,662

 

Overdrafts

 

 

209

 

 

 

194

 

Other consumer

 

 

1,782

 

 

 

1,757

 

Total loans

 

 

1,216,551

 

 

 

1,093,771

 

Net unearned (fees) and deferred costs

 

 

(503

)

 

 

(238

)

Allowance for credit losses on loans

 

 

(8,744

)

 

 

(8,852

)

Loans receivable, net

 

$

1,207,304

 

 

$

1,084,681

 

 

Loans secured by commercial real estate include all loans collateralized at least in part by commercial real estate. These loans may not be for the express purpose of conducting commercial real estate transactions.

QNB generally lends in Bucks, Lehigh, and Montgomery counties in southeastern Pennsylvania. To a large extent, QNB makes loans collateralized at least in part by real estate. Its lending activities could be affected by changes in the general economy, the regional economy, or real estate values. Other than disclosed in the table above, at December 31, 2024, there was a concentration of loans to lessors of residential buildings and dwellings of 21.9% of total loans and to lessors of nonresidential buildings of 23.3% of total loans, compared with 21.5% and 24.7% of total loans, respectively, at December 31, 2023. These concentrations were primarily within the commercial real estate categories.

QNB engages in a variety of lending activities, including commercial, residential real estate and consumer transactions. QNB focuses its lending activities on individuals, professionals and small to medium sized businesses. Risks associated with lending activities include economic conditions and changes in interest rates, which can adversely impact both the ability of borrowers to repay their loans and the value of the associated collateral.

Commercial and industrial loans, commercial real estate loans, construction loans and residential real estate loans with a business purpose are generally perceived as having more risk of default than residential real estate loans with a personal purpose and retail loans. These types of loans involve larger loan balances to a single borrower or groups of related borrowers and are more susceptible to a risk of loss during a downturn in the business cycle. These loans may involve greater risk because the availability of funds to repay these loans depends on the successful operation of the borrower’s business. The assets financed are used within the business for its ongoing operation. Repayment of these types of loans generally comes from the cash flow of the business or the ongoing conversions of assets, such as accounts receivable and inventory, to cash. Typical collateral for commercial and industrial loans includes the borrower’s accounts receivable, inventory and machinery and equipment. Commercial real estate and residential real estate loans secured for a business purpose are originated primarily within the southeastern Pennsylvania market area at conservative loan-to-value ratios and often backed by the individual guarantees of the borrowers or owners. Repayment of this kind of loan is dependent upon either the ongoing cash flow of the borrowing entity or the resale of or lease of the subject property. Commercial real estate loans may be affected to a greater extent than residential loans by adverse conditions in real estate markets or the economy because commercial real estate borrowers’ ability to repay their loans depends on successful development of their properties, as well as the factors affecting residential real estate borrowers.

Loans to state and political subdivisions are tax-exempt or taxable loans to municipalities, school districts and housing and industrial development authorities. These loans can be general obligations of the municipality or school district repaid through their taxing authority, revenue obligations repaid through the income generated by the operations of the authority, such as a water or sewer authority, or loans issued to a housing and industrial development agency, for which a private corporation is responsible for payments on the loans.

QNB originates fixed-rate and adjustable-rate real estate-residential mortgage loans for personal purposes that are secured by first liens on the underlying 1-4 family residential properties. Credit risk exposure in this area of lending is minimized by the evaluation of the credit worthiness of the borrower, including debt-to-income ratios, credit scores and adherence to underwriting policies that emphasize conservative loan-to-value ratios of generally no more than 80%. Residential mortgage loans granted in excess of the 80% loan-to-value ratio criterion are generally insured by private mortgage insurance.

The real estate-home equity portfolio consists of fixed-rate home equity loans and variable-rate home equity lines of credit. Risks associated with loans secured by residential properties are generally lower than commercial loans and include general economic risks, such as the strength of the job market, employment stability and the strength of the housing market. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is the greatest risk to repayment.

QNB offers a variety of loans to individuals for personal and household purposes. Consumer loans are generally considered to have greater risk than first or second mortgages on real estate because they may be unsecured, or, if they are secured, the value of the collateral may be difficult to assess and is more likely to decrease in value than real estate. Credit risk in this portfolio is controlled by conservative underwriting standards that consider debt-to-income levels and the creditworthiness of the borrower and, if secured, collateral values.

QNB employs a ten-grade risk rating system related to the credit quality of commercial loans and loans to state and political subdivisions of which the first six categories are pass categories (credits not adversely rated). The following is a description of the internal risk ratings and the likelihood of loss related to each risk rating.

1 - Excellent - no apparent risk

2 - Good - minimal risk

3 - Acceptable - lower risk

4 - Acceptable - average risk

5 - Acceptable – higher risk

6 - Pass watch

7 - Special Mention - potential weaknesses

8 - Substandard - well defined weaknesses

9 - Doubtful - full collection unlikely

10 - Loss - considered uncollectible

QNB maintains a loan review system, which allows for a periodic review of our loan portfolio and the early identification of potential problem loans. Each loan officer assigns a rating to commercial loans and loans to state and political subdivisions at the time the loan is originated. Loans are generally reviewed annually based on the borrower’s fiscal year and the dollar amount of the relationship. Loans with risk ratings of seven through ten are reviewed at least quarterly, and as often as monthly, at management’s discretion. QNB also utilizes an outside loan review firm to review the portfolio on a semi-annual basis to provide the Board of Directors and senior management an independent review of the Bank’s loan portfolio on an ongoing basis. These reviews are designed to recognize deteriorating credits in their earliest stages in an effort to reduce and control risk in the lending function as well as identifying potential shifts in the quality of the loan portfolio. The examinations by the outside loan review firm include the review of lending activities with respect to underwriting and processing new loans, monitoring the risk of existing loans and to provide timely follow-up and corrective action for loans showing signs of deterioration in quality. In addition, the outside firm reviews the methodology for the allowance for credit losses on loans to determine compliance to policy and regulatory guidance.

 

The following tables present the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the QNB’s internal risk rating system as of December 31, 2024 and 2023:

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

24,130

 

 

$

11,476

 

 

$

10,818

 

 

$

4,796

 

 

$

2,513

 

 

$

8,138

 

 

$

86,094

 

 

$

147,965

 

Special mention

 

 

—

 

 

 

392

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,557

 

 

 

2,949

 

Substandard

 

 

—

 

 

 

555

 

 

 

—

 

 

 

113

 

 

 

84

 

 

 

676

 

 

 

845

 

 

 

2,273

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial and industrial

 

$

24,130

 

 

$

12,423

 

 

$

10,818

 

 

$

4,909

 

 

$

2,597

 

 

$

8,814

 

 

$

89,496

 

 

$

153,187

 

Construction and land development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

53,278

 

 

$

33,332

 

 

$

11,404

 

 

$

13,998

 

 

$

3,268

 

 

$

8,056

 

 

$

—

 

 

$

123,336

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

6,094

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

34

 

 

 

—

 

 

 

6,128

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction and land development

 

$

53,278

 

 

$

39,426

 

 

$

11,404

 

 

$

13,998

 

 

$

3,268

 

 

$

8,090

 

 

$

—

 

 

$

129,464

 

Real estate secured by multi-family properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

26,080

 

 

$

17,395

 

 

$

27,638

 

 

$

22,402

 

 

$

9,210

 

 

$

31,488

 

 

$

—

 

 

$

134,213

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

471

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,777

 

 

 

—

 

 

 

3,248

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by multi-family properties

 

$

26,080

 

 

$

17,866

 

 

$

27,638

 

 

$

22,402

 

 

$

9,210

 

 

$

34,265

 

 

$

—

 

 

$

137,461

 

Real estate secured by owner-occupied properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

14,110

 

 

$

14,121

 

 

$

25,747

 

 

$

23,080

 

 

$

14,890

 

 

$

53,062

 

 

$

—

 

 

$

145,010

 

Special mention

 

 

656

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

869

 

 

 

—

 

 

 

1,525

 

Substandard

 

 

745

 

 

 

7,027

 

 

 

1,665

 

 

 

—

 

 

 

2,131

 

 

 

5,852

 

 

 

—

 

 

 

17,420

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by owner-occupied properties

 

$

15,511

 

 

$

21,148

 

 

$

27,412

 

 

$

23,080

 

 

$

17,021

 

 

$

59,783

 

 

$

—

 

 

$

163,955

 

Real estate secured by other commercial properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

42,414

 

 

$

30,132

 

 

$

67,747

 

 

$

40,771

 

 

$

13,624

 

 

$

115,015

 

 

$

—

 

 

$

309,703

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

663

 

 

 

—

 

 

 

—

 

 

 

2,298

 

 

 

726

 

 

 

—

 

 

 

3,687

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by other commercial properties

 

$

42,414

 

 

$

30,795

 

 

$

67,747

 

 

$

40,771

 

 

$

15,922

 

 

$

115,741

 

 

$

—

 

 

$

313,390

 

Revolving real estate secured by 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,652

 

 

$

5,652

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total revolving real estate secured by 1-4 family properties-business

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,652

 

 

$

5,652

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate secured by 1st lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

9,890

 

 

$

16,641

 

 

$

26,410

 

 

$

18,786

 

 

$

8,349

 

 

$

24,375

 

 

$

—

 

 

$

104,451

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

Substandard

 

 

—

 

 

 

—

 

 

 

339

 

 

 

205

 

 

 

145

 

 

 

507

 

 

 

—

 

 

 

1,196

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by 1st lien on 1-4 family properties-business

 

$

9,890

 

 

$

16,641

 

 

$

26,749

 

 

$

19,123

 

 

$

8,494

 

 

$

24,882

 

 

$

—

 

 

$

105,779

 

Real estate secured by junior lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

213

 

 

$

533

 

 

$

574

 

 

$

176

 

 

$

538

 

 

$

855

 

 

$

—

 

 

$

2,889

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

330

 

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

349

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

543

 

 

$

533

 

 

$

593

 

 

$

176

 

 

$

538

 

 

$

855

 

 

$

—

 

 

$

3,238

 

State and political subdivisions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

1,914

 

 

$

1,141

 

 

$

—

 

 

$

3,749

 

 

$

8

 

 

$

10,871

 

 

$

—

 

 

$

17,683

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

1,914

 

 

$

1,141

 

 

$

—

 

 

$

3,749

 

 

$

8

 

 

$

10,871

 

 

$

—

 

 

$

17,683

 

Total Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

172,029

 

 

$

124,771

 

 

$

170,338

 

 

$

127,758

 

 

$

52,400

 

 

$

251,860

 

 

$

91,746

 

 

$

990,902

 

Special mention

 

 

656

 

 

 

392

 

 

 

—

 

 

 

132

 

 

 

—

 

 

 

869

 

 

 

2,557

 

 

 

4,606

 

Substandard

 

 

1,075

 

 

 

14,810

 

 

 

2,023

 

 

 

318

 

 

 

4,658

 

 

 

10,572

 

 

 

845

 

 

 

34,301

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial loans

 

$

173,760

 

 

$

139,973

 

 

$

172,361

 

 

$

128,208

 

 

$

57,058

 

 

$

263,301

 

 

$

95,148

 

 

$

1,029,809

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

23

 

 

$

23

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

20,473

 

 

$

14,439

 

 

$

8,574

 

 

$

5,913

 

 

$

8,626

 

 

$

7,175

 

 

$

70,716

 

 

$

135,916

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,170

 

 

 

1,170

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial and industrial

 

$

20,473

 

 

$

14,439

 

 

$

8,574

 

 

$

5,913

 

 

$

8,626

 

 

$

7,175

 

 

$

71,886

 

 

$

137,086

 

Construction and land development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

46,171

 

 

$

43,472

 

 

$

14,630

 

 

$

3,434

 

 

$

4,028

 

 

$

4,395

 

 

$

—

 

 

$

116,130

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

43

 

 

 

—

 

 

 

43

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction and land development

 

$

46,171

 

 

$

43,472

 

 

$

14,630

 

 

$

3,434

 

 

$

4,028

 

 

$

4,438

 

 

$

—

 

 

$

116,173

 

Real estate secured by multi-family properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

10,826

 

 

$

28,858

 

 

$

23,430

 

 

$

9,808

 

 

$

5,804

 

 

$

27,609

 

 

$

—

 

 

$

106,335

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

704

 

 

 

2,154

 

 

 

—

 

 

 

2,858

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by multi-family properties

 

$

10,826

 

 

$

28,858

 

 

$

23,430

 

 

$

9,808

 

 

$

6,508

 

 

$

29,763

 

 

$

—

 

 

$

109,193

 

Real estate secured by owner-occupied properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

14,430

 

 

$

29,576

 

 

$

26,908

 

 

$

18,693

 

 

$

12,239

 

 

$

53,030

 

 

$

—

 

 

$

154,876

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

 

 

 

—

 

 

 

—

 

 

 

5,819

 

 

 

—

 

 

 

5,819

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by owner-occupied properties

 

$

14,430

 

 

$

29,576

 

 

$

26,908

 

 

$

18,693

 

 

$

12,239

 

 

$

58,849

 

 

$

—

 

 

$

160,695

 

Real estate secured by other commercial properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

32,297

 

 

$

44,526

 

 

$

42,582

 

 

$

17,798

 

 

$

28,947

 

 

$

98,173

 

 

$

—

 

 

$

264,323

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

778

 

 

 

—

 

 

 

778

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by other commercial properties

 

$

32,297

 

 

$

44,526

 

 

$

42,582

 

 

$

17,798

 

 

$

28,947

 

 

$

98,951

 

 

$

—

 

 

$

265,101

 

Revolving real estate secured by 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,442

 

 

$

5,442

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total revolving real estate secured by 1-4 family properties-business

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,442

 

 

$

5,442

 

Real estate secured by 1st lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

14,697

 

 

$

28,596

 

 

$

20,890

 

 

$

9,794

 

 

$

8,441

 

 

$

20,262

 

 

$

—

 

 

$

102,680

 

Special mention

 

 

—

 

 

 

—

 

 

 

137

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

137

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard

 

 

—

 

 

 

189

 

 

 

—

 

 

 

—

 

 

 

423

 

 

 

143

 

 

 

—

 

 

 

755

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by 1st lien on 1-4 family properties-business

 

$

14,697

 

 

$

28,785

 

 

$

21,027

 

 

$

9,794

 

 

$

8,864

 

 

$

20,405

 

 

$

—

 

 

$

103,572

 

Real estate secured by junior lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

558

 

 

$

604

 

 

$

542

 

 

$

580

 

 

$

40

 

 

$

934

 

 

$

—

 

 

$

3,258

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

187

 

 

 

—

 

 

 

187

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

558

 

 

$

604

 

 

$

542

 

 

$

580

 

 

$

40

 

 

$

1,121

 

 

$

—

 

 

$

3,445

 

State and political subdivisions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

707

 

 

$

—

 

 

$

4,247

 

 

$

18

 

 

$

5,444

 

 

$

8,292

 

 

$

—

 

 

$

18,708

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

707

 

 

$

—

 

 

$

4,247

 

 

$

18

 

 

$

5,444

 

 

$

8,292

 

 

$

—

 

 

$

18,708

 

Total Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

140,159

 

 

$

190,071

 

 

$

141,803

 

 

$

66,038

 

 

$

73,569

 

 

$

219,870

 

 

$

76,158

 

 

$

907,668

 

Special mention

 

 

—

 

 

 

—

 

 

 

137

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

137

 

Substandard

 

 

—

 

 

 

189

 

 

 

—

 

 

 

—

 

 

 

1,127

 

 

 

9,124

 

 

 

1,170

 

 

 

11,610

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial loans

 

$

140,159

 

 

$

190,260

 

 

$

141,940

 

 

$

66,038

 

 

$

74,696

 

 

$

228,994

 

 

$

77,328

 

 

$

919,415

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

229

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

84

 

 

$

313

 

 

 

The following tables present the recorded investment in the retail classes of the loan portfolio based on payment activity as of December 31, 2024 and 2023:

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

12,129

 

 

$

12,404

 

 

$

13,901

 

 

$

28,707

 

 

$

18,871

 

 

$

27,643

 

 

$

—

 

 

$

113,655

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

768

 

 

 

—

 

 

 

768

 

Total 1-4 family residential mortgages

 

$

12,129

 

 

$

12,404

 

 

$

13,901

 

 

$

28,707

 

 

$

18,871

 

 

$

28,411

 

 

$

—

 

 

$

114,423

 

Revolving home equity secured by 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

47,918

 

 

$

47,918

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

313

 

 

 

313

 

Total revolving home equity secured by 1-4 family properties-personal

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

48,231

 

 

$

48,231

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate secured by 1st lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

599

 

 

$

721

 

 

$

968

 

 

$

1,027

 

 

$

813

 

 

$

2,315

 

 

$

—

 

 

$

6,443

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

90

 

 

 

—

 

 

 

—

 

 

 

28

 

 

 

—

 

 

 

118

 

Total real estate secured by 1st lien on 1-4 family properties-personal

 

$

599

 

 

$

721

 

 

$

1,058

 

 

$

1,027

 

 

$

813

 

 

$

2,343

 

 

$

—

 

 

$

6,561

 

Real estate secured by junior lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

5,241

 

 

$

3,317

 

 

$

833

 

 

$

958

 

 

$

922

 

 

$

2,804

 

 

$

—

 

 

$

14,075

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

Total real estate secured by junior lien on 1-4 family properties-personal

 

$

5,241

 

 

$

3,317

 

 

$

850

 

 

$

958

 

 

$

922

 

 

$

2,804

 

 

$

—

 

 

$

14,092

 

Student loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,433

 

 

$

—

 

 

$

1,433

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11

 

 

 

—

 

 

 

11

 

Total student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,444

 

 

$

—

 

 

$

1,444

 

Overdrafts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

209

 

 

$

209

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total overdrafts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

209

 

 

$

209

 

Other consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

785

 

 

$

487

 

 

$

127

 

 

$

104

 

 

$

16

 

 

$

32

 

 

$

202

 

 

$

1,753

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

29

 

 

 

—

 

 

 

29

 

Total other consumer

 

$

785

 

 

$

487

 

 

$

127

 

 

$

104

 

 

$

16

 

 

$

61

 

 

$

202

 

 

$

1,782

 

Total Retail Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

18,754

 

 

$

16,929

 

 

$

15,829

 

 

$

30,796

 

 

$

20,622

 

 

$

34,227

 

 

$

48,329

 

 

$

185,486

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

107

 

 

 

—

 

 

 

—

 

 

 

836

 

 

 

313

 

 

 

1,256

 

Total Retail Loans

 

$

18,754

 

 

$

16,929

 

 

$

15,936

 

 

$

30,796

 

 

$

20,622

 

 

$

35,063

 

 

$

48,642

 

 

$

186,742

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

52

 

 

$

—

 

 

$

52

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

101

 

 

 

101

 

Other consumer

 

 

—

 

 

 

4

 

 

 

8

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

7

 

 

 

23

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

12,641

 

 

$

14,635

 

 

$

30,495

 

 

$

20,304

 

 

$

4,526

 

 

$

25,500

 

 

$

—

 

 

$

108,101

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

805

 

 

 

—

 

 

 

805

 

Total 1-4 family residential mortgages

 

$

12,641

 

 

$

14,635

 

 

$

30,495

 

 

$

20,304

 

 

$

4,526

 

 

$

26,305

 

 

$

—

 

 

$

108,906

 

Revolving home equity secured by 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

33,936

 

 

$

33,936

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

295

 

 

 

295

 

Total revolving home equity secured by 1-4 family properties-personal

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

34,231

 

 

$

34,231

 

Real estate secured by 1st lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

2,591

 

 

$

1,613

 

 

$

2,933

 

 

$

1,030

 

 

$

931

 

 

$

2,767

 

 

$

—

 

 

$

11,865

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

116

 

 

 

—

 

 

 

116

 

Total real estate secured by 1st lien on 1-4 family properties-personal

 

$

2,591

 

 

$

1,613

 

 

$

2,933

 

 

$

1,030

 

 

$

931

 

 

$

2,883

 

 

$

—

 

 

$

11,981

 

Real estate secured by junior lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

6,438

 

 

$

1,613

 

 

$

2,184

 

 

$

1,180

 

 

$

676

 

 

$

3,515

 

 

$

—

 

 

$

15,606

 

Nonperforming

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19

 

Total real estate secured by junior lien on 1-4 family properties-personal

 

$

6,438

 

 

$

1,632

 

 

$

2,184

 

 

$

1,180

 

 

$

676

 

 

$

3,515

 

 

$

—

 

 

$

15,625

 

Student loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,645

 

 

$

—

 

 

$

1,645

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Total student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,662

 

 

$

—

 

 

$

1,662

 

Overdrafts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

194

 

 

$

194

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total overdrafts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

194

 

 

$

194

 

Other consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

793

 

 

$

290

 

 

$

245

 

 

$

89

 

 

$

73

 

 

$

41

 

 

$

189

 

 

$

1,720

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

37

 

 

 

—

 

 

 

37

 

Total other consumer

 

$

793

 

 

$

290

 

 

$

245

 

 

$

89

 

 

$

73

 

 

$

78

 

 

$

189

 

 

$

1,757

 

Total Retail Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

22,463

 

 

$

18,151

 

 

$

35,857

 

 

$

22,603

 

 

$

6,206

 

 

$

33,468

 

 

$

34,319

 

 

$

173,067

 

Nonperforming

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

975

 

 

 

295

 

 

 

1,289

 

Total Retail Loans

 

$

22,463

 

 

$

18,170

 

 

$

35,857

 

 

$

22,603

 

 

$

6,206

 

 

$

34,443

 

 

$

34,614

 

 

$

174,356

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

57

 

 

$

—

 

 

$

57

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91

 

 

 

91

 

Other consumer

 

 

—

 

 

 

1

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

14

 

 

Retail revolving lines of credit that were termed out during 2024 and 2023 were $3,394,000 and $4,534,000, respectively; all which are performing.

 

The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio (excluding deferred fees and costs) summarized by the past due status, regardless of whether the loan is on non-accrual status, as of December 31, 2024 and 2023:

 

December 31, 2024

 

30-59 days
past due

 

 

60-89 days
past due

 

 

90 days or
more past
due

 

 

Total past
due loans

 

 

Current

 

 

Total loans
receivable

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

153,187

 

 

$

153,187

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

129,464

 

 

 

129,464

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

137,461

 

 

 

137,461

 

Real estate secured by owner-occupied properties

 

 

150

 

 

 

169

 

 

 

—

 

 

 

319

 

 

 

163,636

 

 

 

163,955

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

313,390

 

 

 

313,390

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,652

 

 

 

5,652

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

105,779

 

 

 

105,779

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,238

 

 

 

3,238

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17,683

 

 

 

17,683

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

114

 

 

 

440

 

 

 

571

 

 

 

1,125

 

 

 

113,298

 

 

 

114,423

 

Revolving home equity secured by 1-4 family properties-personal

 

 

235

 

 

 

42

 

 

 

119

 

 

 

396

 

 

 

47,835

 

 

 

48,231

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

126

 

 

 

—

 

 

 

91

 

 

 

217

 

 

 

6,344

 

 

 

6,561

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

95

 

 

 

—

 

 

 

17

 

 

 

112

 

 

 

13,980

 

 

 

14,092

 

Student loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,444

 

 

 

1,444

 

Overdrafts

 

 

13

 

 

 

—

 

 

 

—

 

 

 

13

 

 

 

196

 

 

 

209

 

Other consumer

 

 

5

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

1,777

 

 

 

1,782

 

Total

 

$

738

 

 

$

651

 

 

$

798

 

 

$

2,187

 

 

$

1,214,364

 

 

$

1,216,551

 

 

 

December 31, 2023

 

30-59 days
past due

 

 

60-89 days
past due

 

 

90 days or
more past
due

 

 

Total past
due loans

 

 

Current

 

 

Total loans
receivable

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

77

 

 

$

—

 

 

$

—

 

 

$

77

 

 

$

137,009

 

 

$

137,086

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

116,173

 

 

 

116,173

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

109,193

 

 

 

109,193

 

Real estate secured by owner-occupied properties

 

 

186

 

 

 

—

 

 

 

—

 

 

 

186

 

 

 

160,509

 

 

 

160,695

 

Real estate secured by other commercial properties

 

 

9,675

 

 

 

—

 

 

 

—

 

 

 

9,675

 

 

 

255,426

 

 

 

265,101

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,442

 

 

 

5,442

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

323

 

 

 

—

 

 

 

—

 

 

 

323

 

 

 

103,249

 

 

 

103,572

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,445

 

 

 

3,445

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18,708

 

 

 

18,708

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

433

 

 

 

381

 

 

 

481

 

 

 

1,295

 

 

 

107,611

 

 

 

108,906

 

Revolving home equity secured by 1-4 family properties-personal

 

 

56

 

 

 

—

 

 

 

129

 

 

 

185

 

 

 

34,046

 

 

 

34,231

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

—

 

 

 

96

 

 

 

—

 

 

 

96

 

 

 

11,885

 

 

 

11,981

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

—

 

 

 

—

 

 

 

18

 

 

 

18

 

 

 

15,607

 

 

 

15,625

 

Student loans

 

 

—

 

 

 

11

 

 

 

6

 

 

 

17

 

 

 

1,645

 

 

 

1,662

 

Overdrafts

 

 

21

 

 

 

2

 

 

 

—

 

 

 

23

 

 

 

171

 

 

 

194

 

Other consumer

 

 

—

 

 

 

8

 

 

 

—

 

 

 

8

 

 

 

1,749

 

 

 

1,757

 

Total

 

$

10,771

 

 

$

498

 

 

$

634

 

 

$

11,903

 

 

$

1,081,868

 

 

$

1,093,771

 

 

As previously discussed, QNB maintains a loan review system, which includes a continuous review of the loan portfolio by internal and external parties to aid in the early identification of potential collateral dependent loans. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as collateral dependent. When placing a loan on non-accrual status, management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. All non-accrual loans, except student loans, are individually evaluated for an allowance for credit losses ("ACL"). This ACL is measured using either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent.

 

An allowance for credit loss is established for a non-accrual loan if its carrying value exceeds its estimated fair value.

 

For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property.

For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable agings or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets.

The following tables disclose the recorded investment in loans receivable that are either on non-accrual status or past due 90 days or more and still accruing interest as of December 31, 2024 and 2023:

 

December 31, 2024

 

90 Days or More Past Due-Still Accruing

 

 

Nonaccrual With No Specifically-Related ACL

 

 

Nonaccrual With Related ACL

 

 

Total Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

27

 

 

$

27

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

—

 

 

 

157

 

 

 

—

 

 

 

157

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

205

 

 

 

—

 

 

 

205

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

330

 

 

 

330

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

768

 

 

 

—

 

 

 

768

 

Revolving home equity secured by 1-4 family properties-personal

 

 

—

 

 

 

313

 

 

 

—

 

 

 

313

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

—

 

 

 

118

 

 

 

—

 

 

 

118

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Student loans

 

 

—

 

 

 

11

 

 

 

—

 

 

 

11

 

Other consumer

 

 

—

 

 

 

29

 

 

 

—

 

 

 

29

 

Total

 

$

—

 

 

$

1,618

 

 

$

357

 

 

$

1,975

 

 

 

December 31, 2023

 

90 Days or More Past Due-Still Accruing

 

 

Nonaccrual With No Specifically-Related ACL

 

 

Nonaccrual With Related ACL

 

 

Total Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

278

 

 

$

33

 

 

$

311

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

—

 

 

 

175

 

 

 

—

 

 

 

175

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

165

 

 

 

165

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

805

 

 

 

—

 

 

 

805

 

Revolving home equity secured by 1-4 family properties-personal

 

 

—

 

 

 

21

 

 

 

274

 

 

 

295

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

—

 

 

 

116

 

 

 

—

 

 

 

116

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

—

 

 

 

19

 

 

 

—

 

 

 

19

 

Student loans

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Other consumer

 

 

—

 

 

 

37

 

 

 

—

 

 

 

37

 

Total

 

$

—

 

 

$

1,468

 

 

$

472

 

 

$

1,940

 

 

 

QNB recognized interest income of $126,000 and $557,000 on non-accrual loans for the years ended December 31, 2024 and 2023, respectively.

 

The following table presents the collateral-dependent loans by loan category at December 31, 2024 and 2023:
 

December 31, 2024

 

Real Estate Secured

 

 

Other (1)

 

 

Deficiency in Collateral

 

 

Total Collateral Dependent Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

27

 

 

$

27

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

157

 

 

 

—

 

 

 

—

 

 

 

157

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

205

 

 

 

—

 

 

 

—

 

 

 

205

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

330

 

 

 

330

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

768

 

 

 

—

 

 

 

—

 

 

 

768

 

Revolving home equity secured by 1-4 family properties-personal

 

 

313

 

 

 

—

 

 

 

—

 

 

 

313

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

118

 

 

 

—

 

 

 

—

 

 

 

118

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

17

 

 

 

—

 

 

 

—

 

 

 

17

 

Other consumer

 

 

—

 

 

 

29

 

 

 

—

 

 

 

29

 

Total

 

$

1,578

 

 

$

29

 

 

$

357

 

 

$

1,964

 

(1) Secured by business assets, personal property and equipment or guarantees
 

 

December 31, 2023

 

Real Estate Secured

 

 

Other (1)

 

 

Deficiency in Collateral

 

 

Total Collateral Dependent Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

278

 

 

$

33

 

 

$

311

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

175

 

 

 

—

 

 

 

—

 

 

 

175

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

 

 

 

 

 

 

—

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

165

 

 

 

165

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

805

 

 

 

—

 

 

 

—

 

 

 

805

 

Revolving home equity secured by 1-4 family properties-personal

 

 

185

 

 

 

—

 

 

 

110

 

 

 

295

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

116

 

 

 

—

 

 

 

—

 

 

 

116

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

19

 

 

 

—

 

 

 

—

 

 

 

19

 

Other consumer

 

 

—

 

 

 

37

 

 

 

—

 

 

 

37

 

Total

 

$

1,300

 

 

$

315

 

 

$

308

 

 

$

1,923

 

(1) Secured by business assets, personal property and equipment or guarantees
 

 

 


 

Activity in the allowance for credit losses on loans for the years ended December 31, 2024, 2023 and 2022 are as follows:

 

Year ended December 31, 2024

 

Beginning balance

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

823

 

 

$

(23

)

 

$

(23

)

 

$

52

 

 

$

829

 

Construction and land development

 

 

1,252

 

 

 

84

 

 

 

—

 

 

 

—

 

 

 

1,336

 

Real estate secured by multi-family properties

 

 

1,735

 

 

 

277

 

 

 

—

 

 

 

—

 

 

 

2,012

 

Real estate secured by owner-occupied properties

 

 

1,001

 

 

 

(148

)

 

 

—

 

 

 

—

 

 

 

853

 

Real estate secured by other commercial properties

 

 

1,167

 

 

 

(25

)

 

 

—

 

 

 

—

 

 

 

1,142

 

Revolving real estate secured by 1-4 family properties-business

 

 

27

 

 

 

(3

)

 

 

—

 

 

 

—

 

 

 

24

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

1,507

 

 

 

(279

)

 

 

—

 

 

 

10

 

 

 

1,238

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

14

 

 

 

325

 

 

 

—

 

 

 

—

 

 

 

339

 

State and political subdivisions

 

 

55

 

 

 

(21

)

 

 

—

 

 

 

—

 

 

 

34

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

427

 

 

 

(108

)

 

 

—

 

 

 

4

 

 

 

323

 

Revolving home equity secured by 1-4 family properties-personal

 

 

138

 

 

 

5

 

 

 

—

 

 

 

—

 

 

 

143

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

182

 

 

 

(151

)

 

 

—

 

 

 

—

 

 

 

31

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

105

 

 

 

(28

)

 

 

—

 

 

 

—

 

 

 

77

 

Student loans

 

 

369

 

 

 

(37

)

 

 

(52

)

 

 

30

 

 

 

310

 

Overdrafts

 

 

16

 

 

 

69

 

 

 

(101

)

 

 

34

 

 

 

18

 

Other consumer

 

 

34

 

 

 

14

 

 

 

(23

)

 

 

10

 

 

 

35

 

Total

 

$

8,852

 

 

$

(49

)

 

$

(199

)

 

$

140

 

 

$

8,744

 

 

Year ended December 31, 2023

 

Beginning balance prior to adoption of ASC 326

 

 

Impact of adopting ASC 326

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

1,316

 

 

$

(70

)

 

$

(771

)

 

$

(313

)

 

$

661

 

 

$

823

 

Construction and land development

 

 

755

 

 

 

(10

)

 

 

507

 

 

 

—

 

 

 

—

 

 

 

1,252

 

Real estate secured by multi-family properties

 

 

995

 

 

 

684

 

 

 

56

 

 

 

—

 

 

 

—

 

 

 

1,735

 

Real estate secured by owner-occupied properties

 

 

1,549

 

 

 

(374

)

 

 

(174

)

 

 

—

 

 

 

—

 

 

 

1,001

 

Real estate secured by other commercial properties

 

 

2,458

 

 

 

(1,128

)

 

 

(163

)

 

 

—

 

 

 

—

 

 

 

1,167

 

Revolving real estate secured by 1-4 family properties-business

 

 

25

 

 

 

7

 

 

 

(5

)

 

 

—

 

 

 

—

 

 

 

27

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

1,210

 

 

 

490

 

 

 

(203

)

 

 

—

 

 

 

10

 

 

 

1,507

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

30

 

 

 

(14

)

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

14

 

State and political subdivisions

 

 

94

 

 

 

(20

)

 

 

(19

)

 

 

—

 

 

 

—

 

 

 

55

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

682

 

 

 

(196

)

 

 

(59

)

 

 

—

 

 

 

—

 

 

 

427

 

Construction-individual

 

 

1

 

 

 

-

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

Revolving home equity secured by 1-4 family properties-personal

 

 

299

 

 

 

(7

)

 

 

(154

)

 

 

—

 

 

 

—

 

 

 

138

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

57

 

 

 

15

 

 

 

110

 

 

 

—

 

 

 

—

 

 

 

182

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

55

 

 

 

29

 

 

 

15

 

 

 

—

 

 

 

6

 

 

 

105

 

Student loans

 

 

454

 

 

 

12

 

 

 

(48

)

 

 

(57

)

 

 

8

 

 

 

369

 

Overdrafts

 

 

8

 

 

 

3

 

 

 

70

 

 

 

(91

)

 

 

26

 

 

 

16

 

Other consumer

 

 

41

 

 

 

(8

)

 

 

13

 

 

 

(14

)

 

 

2

 

 

 

34

 

Unallocated

 

 

502

 

 

 

(502

)

 

 

—

 

 

N/A

 

 

N/A

 

 

 

—

 

Total

 

$

10,531

 

 

$

(1,089

)

 

$

(828

)

 

$

(475

)

 

$

713

 

 

$

8,852

 

 

 

Year ended December 31, 2022

 

Balance,
beginning of
period

 

 

Provision for
(credit to)
loan losses

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

3,368

 

 

$

(2,320

)

 

$

(38

)

 

$

306

 

 

$

1,316

 

Construction

 

 

363

 

 

 

392

 

 

 

—

 

 

 

—

 

 

 

755

 

Secured by commercial real estate

 

 

4,280

 

 

 

722

 

 

 

—

 

 

 

—

 

 

 

5,002

 

Secured by residential real estate

 

 

1,035

 

 

 

160

 

 

 

—

 

 

 

45

 

 

 

1,240

 

State and political subdivisions

 

 

69

 

 

 

25

 

 

 

—

 

 

 

—

 

 

 

94

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

646

 

 

 

37

 

 

 

—

 

 

 

—

 

 

 

683

 

Home equity loans and lines

 

 

376

 

 

 

55

 

 

 

—

 

 

 

6

 

 

 

437

 

Consumer

 

 

542

 

 

 

82

 

 

 

(158

)

 

 

36

 

 

 

502

 

Unallocated

 

 

505

 

 

 

(3

)

 

N/A

 

 

N/A

 

 

 

502

 

Total

 

$

11,184

 

 

$

(850

)

 

$

(196

)

 

$

393

 

 

$

10,531

 

 

 

Since the implementation of ASU 326 on January 1, 2023, the Company may make loan modifications to borrowers experiencing financial difficulty ("FDM"). A FDM could involve principal forgiveness, term extension, an other-than-insignificant payment delay, interest rate reduction or exchanging or paying off existing debt for new debt with the Company. The effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement

methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Any amount forgiven would be charged to the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. In some cases, modifications could include multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by loan class, type of concession granted and the financial effect of the modification:

 

Year ended December 31,

 

2024

Payment Modification to Interest Only for Six Months

 

Amortized Cost Basis

 

 

% of Total Loan Class

 

 

Fiancial Effect

Commercial:

 

 

 

 

 

 

 

 

Real estate secured by owner-occupied properties

 

$

1,000

 

 

 

0.61

%

 

Temporary reduction of principal payments with no extension of term

Total

 

$

1,000

 

 

 

 

 

 

 

 

There were no payment defaults during the 2024 period on FDMs. There were no FDMs in 2023.

There was 3 mortgage loan(s) secured by residential real estate with a recorded investment of $457,000 for which foreclosure proceedings were in process at December 31, 2024. QNB had no loans secured by residential real estate for which foreclosure proceedings were in process as of December 31, 2023.

v3.25.1
Note 6 - Premises and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Premises and Equipment

Note 6 - Premises and Equipment

Premises and equipment, stated at cost less accumulated depreciation and amortization, are summarized below:

 

December 31,

 

2024

 

 

2023

 

Land and buildings

 

$

18,333

 

 

$

16,102

 

Furniture and equipment

 

 

15,429

 

 

 

14,470

 

Leasehold improvements

 

 

3,637

 

 

 

3,632

 

Right-of-use asset

 

 

2,618

 

 

 

2,722

 

Book value

 

 

40,017

 

 

 

36,926

 

Accumulated depreciation and amortization

 

 

(22,762

)

 

 

(21,974

)

Net book value

 

$

17,255

 

 

$

14,952

 

 

Depreciation and amortization expense on premises and equipment, which excludes operating lease costs in the table below, amounted to $1,095,000, $1,714,000, and $1,115,000 for the years ended December 31, 2024, 2023 and 2022, respectively. During 2024 QNB renewed two operating leases and recorded right-of-use assets of $457,000 and operating liabilities of $457,000.

 

The following table summarized the quantitative attributes of QNB’s operating leases:

 

Year ended December 31,

 

2024

 

 

2023

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

631

 

 

$

618

 

Total lease cost

 

 

631

 

 

 

618

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Cashflows from operating leases

 

$

633

 

 

$

626

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

457

 

 

$

369

 

 

 

 

 

 

 

 

Weighted average remaining lease terms:

 

 

 

 

 

 

Operating leases

 

12.1 years

 

 

13.1 years

 

Weighted average discount rates:

 

 

 

 

 

 

Operating leases

 

 

3.09

%

 

 

2.90

%
v3.25.1
Note 7 - Intangible Assets and Loan Servicing
 12 Months Ended
Dec. 31, 2024
Transfers and Servicing of Financial Assets [Abstract]  
Intangible Assets and Loan Servicing

Note 7 - Intangible Assets and Loan Servicing

Loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The unpaid principal balances of mortgage loans serviced for others were $63,411,000 and $68,349,000 at December 31, 2024 and 2023, respectively.

The following table reflects the activity of mortgage servicing rights for the periods indicated:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Balance at beginning of year

 

$

415

 

 

$

469

 

 

$

538

 

Mortgage servicing rights capitalized

 

 

13

 

 

 

7

 

 

 

2

 

Mortgage servicing rights amortized

 

 

(50

)

 

 

(61

)

 

 

(80

)

Fair market value adjustments

 

 

—

 

 

 

—

 

 

 

9

 

Balance at end of year

 

$

378

 

 

$

415

 

 

$

469

 

 

The balance of these mortgage servicing rights is included in "Other assets" at December 31, 2024 and 2023 and the fair value of these rights was $556,000 and $583,000, respectively. The fair value of servicing rights was determined using discount rates ranging from 12.0% to 12.5% for both 2024 and 2023; and prepayment speeds ranging from 90% to 185% for 2024 compared to 104% to 214% for 2023.

The annual estimated amortization expense of intangible assets for each of the five succeeding fiscal years is as follows:

 

2025

 

$

56

 

2026

 

 

49

 

2027

 

 

43

 

2028

 

 

37

 

2029

 

 

33

 

 
v3.25.1
Note 8 - Time Deposits
 12 Months Ended
Dec. 31, 2024
Time Deposit [Abstract]  
Time Deposits

Note 8 - Time Deposits

The aggregate amount of time deposits was $381,458,000 and $314,981,000 at December 31, 2024 and 2023, respectively. Time deposits that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2024 and 2023 were $46,681,000 and $43,337,000, respectively.

At December 31, 2024, the scheduled maturities of time deposits were as follows:

 

2025

 

$

350,836

 

2026

 

 

19,034

 

2027

 

 

7,826

 

2028

 

 

2,402

 

2029

 

 

1,360

 

Thereafter

 

 

—

 

Total time deposits

 

$

381,458

 
v3.25.1
Note 9 - Short-Term Borrowings
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Short-Term Borrowings

Note 9 - Short-Term Borrowings

 

December 31,

 

Securities sold
under agreements
to repurchase (a)

 

 

Other short - term
 borrowings (b)

 

2024

 

 

 

 

 

 

Balance

 

$

18,636

 

 

$

35,208

 

Maximum indebtedness at any month end

 

 

55,088

 

 

 

50,000

 

Daily average indebtedness outstanding

 

 

38,455

 

 

 

10,071

 

Average rate paid for the year

 

 

1.83

%

 

 

4.41

%

Average rate on period-end borrowings

 

 

2.46

 

 

 

4.81

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

Balance

 

$

44,094

 

 

$

50,000

 

Maximum indebtedness at any month end

 

 

69,343

 

 

 

136,799

 

Daily average indebtedness outstanding

 

 

53,154

 

 

 

55,708

 

Average rate paid for the year

 

 

1.39

%

 

 

4.55

%

Average rate on period-end borrowings

 

 

4.59

 

 

 

4.39

 

 

(a)
Securities sold under agreements to repurchase mature overnight. The repurchase agreements were collateralized by U.S. Government mortgage-backed securities and CMOs with an amortized cost of $30,729,000 and $72,012,000 and a fair value of $26,501,000 and $61,650,000 and at December 31, 2024 and 2023 respectively. These securities are held in safekeeping at the Federal Reserve Bank of Boston.
(b)
Other short-term borrowings include Federal funds purchased, overnight and short term borrowings from the FHLB, and short-term FRB borrowings.

During the first quarter of 2023, QNB borrowed $50,000,000 from the FRB under its Bank Term Funding Program and locked in a rate of 4.39%; there are no pre-payment penalties and the funds were paid off in 2024. The Bank has four unsecured Federal funds lines granted by correspondent banks totaling $86,000,000. Federal funds purchased under these lines were $0 at both December 31, 2024 and 2023.
v3.25.1
Note 10 - Long-Term Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long-Term Debt

Note 10 - Long-Term Debt

FHLB advances are collateralized by certain mortgage loans and also require the purchase of FHLB capital stock, which is included within "Restricted investment in stocks" on the Consolidated Balance Sheets. QNB’s FHLB stock was $3,510,000 and $1,718,000 at December 31, 2024 and 2023, respectively.

QNB has a maximum borrowing capacity with the FHLB of approximately $442,339,000. At December 31, 2024 QNB had $30,000,000 in long-term advances outstanding with the FHLB at fixed rates, $35,208,000 in short term borrowings as reported in Note 9 and a letter of credit issued of $283,000. At December 31, 2023 QNB had $20,000,000 in long-term advances outstanding with the FHLB at fixed rates, no short-term borrowings as reported in Note 9 and a letter of credit issued of $283,000.

Long-term advances at the FHLB mature as follows:

 

As of December 31, 2024

 

Balance Maturing

 

 

Weighted-Average Rate

 

2025

 

$

30,000

 

 

 

4.75

%

2026

 

 

—

 

 

 

—

 

2027

 

 

—

 

 

 

—

 

2028

 

 

—

 

 

 

—

 

2029

 

 

—

 

 

 

—

 

Thereafter

 

 

—

 

 

 

—

 

Total long-term debt

 

$

30,000

 

 

 

4.75

%
v3.25.1
Note 11 - Subordinated Debt
 12 Months Ended
Dec. 31, 2024
Subordinated Borrowings [Abstract]  
Subordinated Debt

Note 11 - Subordinated Debt

 

On August 30, 2024, the Company entered into Subordinated Note Purchase Agreements with certain qualified institutional buyers and accredited investors (collectively, the "Subordinated Note Purchasers") pursuant to which the Company issued and sold $40.0 million in aggregate principal amount of its 8.875% Fixed-to-Floating Rate Subordinated Notes due 2034 (the "Subordinated Notes"). The Subordinated Notes were offered and sold by the Company to the Subordinated Note Purchasers in a private offering in reliance on the Section 4(a)(2) exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), and the provisions of Regulation D thereunder. The Company intends to use the proceeds from the offering for general corporate purposes and potential future strategic opportunities.

 

The Subordinated Notes mature on September 1, 2034 and bear interest at a fixed annual rate of 8.875%, payable semi-annually in arrears, to but excluding September 1, 2029. From and including September 1, 2029 to but excluding the maturity date or early redemption date, the interest rate will reset quarterly to an interest rate per annum initially equal to the then-current three-month Secured Overnight Financing Rate published by the Federal Reserve Bank of New York plus 545 basis points, payable quarterly in arrears. The Company is entitled to redeem the Subordinated Notes, in whole or in part, at any time on or after September 1, 2029, and to redeem the Subordinated Notes at any time in whole upon certain other events. Any redemption of the Subordinated Notes will be subject to prior regulatory approval to the extent required.

 

The Subordinated Notes are not subject to any sinking fund and are not convertible into or exchangeable for any other securities or

assets of the Company or any of its subsidiaries. The Subordinated Notes are not subject to redemption at the option of the holders. The Subordinated Notes are unsecured, subordinated obligations of the Company only and are not obligations of, and are not guaranteed by, any subsidiary of the Company. The Subordinated Notes rank junior in right to payment to the Company's current and future senior indebtedness. The Subordinated Notes are intended to qualify as Tier 2 capital for regulatory capital purposes.

 

The carrying cost of the Subordinated Notes on the consolidated balance sheets represents the outstanding balance of the notes net of unamortized origination costs of $932,000 which amortize to interest expense through September 1, 2029.
v3.25.1
Note 12 - Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes

Note 12 - Income Taxes

The components of the provision for income taxes are as follows:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Current Federal income taxes

 

$

2,739

 

 

$

2,109

 

 

$

3,543

 

Current state income taxes

 

 

80

 

 

 

83

 

 

 

180

 

Deferred Federal income taxes (benefits)

 

 

93

 

 

 

71

 

 

 

36

 

Deferred state income taxes (benefits)

 

 

(169

)

 

 

(15

)

 

 

(102

)

Valuation adjustment

 

 

168

 

 

 

(4

)

 

 

8

 

Net provision

 

$

2,911

 

 

$

2,244

 

 

$

3,665

 

 

At December 31, 2024 and 2023, the tax effects of temporary differences that represent the significant portion of deferred tax assets and liabilities are as follows:

 

December 31,

 

2024

 

 

2023

 

Deferred tax assets

 

 

 

 

 

 

Allowance for credit losses on loans

 

$

1,882

 

 

$

1,859

 

Net unrealized holding losses on investment
   securities available-for-sale

 

 

18,226

 

 

 

17,692

 

Net unrealized holding losses on investment
   rate swaps

 

 

—

 

 

 

367

 

Non-accrual interest income

 

 

200

 

 

 

170

 

Leasing liability

 

 

630

 

 

 

637

 

Deferred revenue

 

 

113

 

 

 

—

 

Incurred but not reported medical expense

 

 

34

 

 

 

27

 

Bonus

 

 

192

 

 

 

88

 

State net operating loss carryforward

 

 

171

 

 

 

30

 

Other

 

 

106

 

 

 

61

 

Total deferred tax assets

 

 

21,554

 

 

 

20,931

 

Deferred tax liabilities

 

 

 

 

 

 

Deferred loan income

 

 

531

 

 

 

487

 

Depreciation

 

 

286

 

 

 

215

 

Mortgage servicing rights

 

 

81

 

 

 

87

 

Net unrealized holding losses on investment
   rate swaps

 

 

1,040

 

 

 

—

 

Fair value remeasurements on interest rate swap

 

 

22

 

 

 

12

 

Fair value adjustment on equity securities

 

 

—

 

 

 

61

 

Prepaid expenses

 

 

262

 

 

 

203

 

Right of use asset

 

 

564

 

 

 

572

 

Subordinated debt costs

 

 

263

 

 

 

—

 

Other

 

 

8

 

 

 

—

 

Total deferred tax liabilities

 

 

3,057

 

 

 

1,637

 

Valuation allowance

 

 

172

 

 

 

4

 

Net deferred tax asset

 

$

18,325

 

 

$

19,290

 

 

The ability to realize deferred tax assets is dependent upon a variety of factors, including the generation of future taxable income, the existence of taxes paid and recoverable, the reversal of deferred tax liabilities and tax planning strategies. Based upon these and other factors, management believes it is more likely than not that QNB will realize the benefits of the above deferred tax assets except a $1,000 deferred tax asset related to non-qualified stock option that it is more likely than not that the options will expire unexercised due to the strike price and a $171,000 deferred tax related to a state net operating loss that it is more likely than not that the carryforward period will expire prior to the ability to offset the loss. A valuation allowance was recorded for this amount.

A reconciliation of the tax provision on income before taxes computed at the statutory rates of 21% for 2024, 2023 and 2022 and the actual tax provision was as follows:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

 

 

Dollar

 

 

%

 

 

Dollar

 

 

%

 

 

Dollar

 

 

%

 

Provision at statutory rate

 

$

3,015

 

 

 

21.0

%

 

$

2,463

 

 

 

21.0

%

 

$

4,113

 

 

 

21.0

%

Tax-exempt interest and dividend income

 

 

(194

)

 

 

(1.4

)

 

 

(267

)

 

 

(2.3

)

 

 

(504

)

 

 

(2.6

)

Bank-owned life insurance

 

 

(68

)

 

 

(0.5

)

 

 

(67

)

 

 

(0.6

)

 

 

(75

)

 

 

(0.4

)

Stock-based compensation expense

 

 

27

 

 

 

0.2

 

 

 

26

 

 

 

0.2

 

 

 

20

 

 

 

0.1

 

State income tax

 

 

(47

)

 

 

(0.3

)

 

 

53

 

 

 

0.5

 

 

 

62

 

 

 

0.3

 

Other

 

 

10

 

 

 

0.1

 

 

 

40

 

 

 

0.4

 

 

 

41

 

 

 

0.2

 

Income tax provision

 

 

2,743

 

 

 

19.1

 

 

 

2,248

 

 

 

19.2

 

 

 

3,657

 

 

 

18.7

 

Valuation Adjustment

 

 

168

 

 

 

1.2

 

 

 

(4

)

 

 

(0.1

)

 

 

8

 

 

 

0.0

 

 

 

$

2,911

 

 

 

20.3

%

 

$

2,244

 

 

 

19.1

%

 

$

3,665

 

 

 

18.7

%
v3.25.1
Note 13 - Employee Benefit Plans
 12 Months Ended
Dec. 31, 2024
Compensation Related Costs [Abstract]  
Employee Benefit Plans

Note 13 - Employee Benefit Plans

The QNB Bank Retirement Savings Plan provides for elective employee contributions up to the maximum allowed by the IRS and a matching company contribution limited to 3%. In addition, the plan provides for safe harbor non-elective contributions of 5% of total compensation by QNB. QNB contributed a matching contribution of $400,000, $376,000 and $345,000 for the years ended December 31, 2024, 2023, and 2022, respectively, and a safe harbor contribution of $706,000 for 2024, $669,000 for 2023, and $606,000 for 2022.

QNB’s Employee Stock Purchase Plan (the Plan) offers eligible employees an opportunity to purchase shares of QNB Corp. common stock at a 10% discount from the lesser of fair market value on the first or last day of each offering period (as defined by the Plan). At the 2021 Annual Meeting, shareholders approved the 2021 Employee Stock Purchase Plan (the 2021 Plan), which authorizes the issuance of 30,000 shares. As of December 31, 2024, 18,792 shares were issued under the 2021 Plan. The 2021 Plan expires May 31, 2026.

Shares issued pursuant to the Plan were as follows:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Shares

 

 

7,339

 

 

 

6,630

 

 

 

5,102

 

Price per share

 

$22.00 and $23.20

 

 

$23.10

 

 

$29.48 and $24.21

 

 

QNB implemented the Nonqualified Deferred Compensation Plan (NDCP) during 2023 for the benefit of a select group of its management or highly compensated employees. The purpose of the NDCP is to provide a deferred compensation vehicle to which QNB may credit discretionary amounts on behalf of the participants for recruitment and reward. QNB contributed $136,000 and $108,000 to the NDCP in 2024 and 2023, respectively. The NDCP liability was $244,000 at December 31, 2024.
v3.25.1
Note 14 - Stock Option Plan and Non-Employee Director Compensation Plan
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Option Plan and Non-Employee Director Compensation Plan

Note 14 - Stock Option Plan and Non-Employee Director Compensation Plan

QNB has a stock option plan (the 2015 Plan) administered by a committee which consists of three or more members of QNB’s Board of Directors. The 2015 Plan provides for the granting of either (i) Non-Qualified Stock Options (NQSOs) or (ii) Incentive Stock Options (ISOs). The exercise price of an option, as defined by the 2015 Plan, is the fair market value of QNB’s common stock at the date of grant. The 2015 Plan provides for the exercise either in cash or in securities of the Company or in any combination thereof. The 2015 Plan, which expires March 15, 2025, authorizes the issuance of 300,000 shares. The time period by which any option is exercisable under this Plan is determined by the Committee but shall not commence before the expiration of six months after the date of grant. The 2015 Plan was amended, effective January 1, 2023, to increase the maximum term of any options granted under the plan from five years to ten years, and to also require that awards granted under the Plan will vest 20% each consecutive year commencing on the first anniversary date of the award unless otherwise specified in an award agreement. There were 252,550 options granted, 94,450 options forfeited, 20,825 options exercised and 137,275 options outstanding under the 2015 Plan as of December 31, 2024.

As of December 31, 2024, there was approximately $193,000 of unrecognized compensation cost related to unvested stock option awards granted. That cost is expected to be recognized over the next 27 months.

 

Stock option activity during 2024, 2023, and 2022 was as follows:

 

 

 

Number
of options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual
term
(in years)

 

 

Aggregate
intrinsic
value

 

Outstanding at December 31, 2021

 

 

113,950

 

 

$

37.58

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(34,150

)

 

 

37.07

 

 

 

 

 

 

 

Granted

 

 

29,350

 

 

 

37.26

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

109,150

 

 

 

37.65

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(22,600

)

 

 

43.15

 

 

 

 

 

 

 

Granted

 

 

35,000

 

 

 

29.51

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

121,550

 

 

 

34.29

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(24,275

)

 

 

37.69

 

 

 

 

 

 

 

Granted

 

 

40,000

 

 

 

23.40

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

137,275

 

 

$

30.51

 

 

 

5.24

 

 

$

599

 

Exercisable at December 31, 2024

 

 

45,315

 

 

$

33.74

 

 

 

1.76

 

 

$

58

 

 

As of December 31, 2024, outstanding stock options consist of the following:

 

 

 

Options
outstanding

 

 

Exercise
price

 

 

Remaining life
(in years)

 

 

Options
exercisable

 

 

Exercise
price

 

 

 

 

40,000

 

 

$

23.40

 

 

 

9.13

 

 

 

—

 

 

$

—

 

 

 

 

34,200

 

 

 

29.51

 

 

 

8.13

 

 

 

6,840

 

 

 

29.51

 

 

 

 

19,325

 

 

 

32.50

 

 

 

1.13

 

 

 

19,325

 

 

 

32.50

 

 

 

 

19,150

 

 

 

36.50

 

 

 

0.12

 

 

 

19,150

 

 

 

36.50

 

 

 

 

24,600

 

 

 

37.26

 

 

 

2.12

 

 

 

—

 

 

 

—

 

Outstanding at December 31, 2024

 

 

137,275

 

 

$

30.51

 

 

 

5.24

 

 

 

45,315

 

 

$

33.74

 

 

The intrinsic value related to total stock options exercised during 2024, 2023, and 2022 are as follows:

 

 

 

2024

 

 

2023

 

 

2022

 

Intrinsic value of stock options exercised

 

$

—

 

 

$

—

 

 

$

—

 

 

The QNB Corp. 2023 Non-Employee Director Compensation Plan was approved by shareholders on May 23, 2023 (The "Director Compensation Plan"). The Director Compensation Plan authorized the issuance of 50,000 shares, is effective January 1, 2023 and expires on January 1, 2033. The Plan requires each non-employee director of the QNB, or any subsidiary of QNB designated by the Board (including QNB Bank), to receive $8,000 of their total annual compensation for service as a director in the form of the QNB’s common stock. Under the Director Compensation Plan, commencing with the six-month period ended June 30, 2023, each non-employee director will receive, in addition to any cash compensation otherwise payable, a semi-annual grant of such number of shares of the QNB’s common stock determined by dividing (i) the Semi-Annual Stock Payment Amount of $4,000 by (ii) the market value of a share of common stock determined as of June 30 or December 31 of any year, as applicable. Payments will be made under the Director Compensation Plan only to non-employee directors in office on the applicable payment date. As of December 31, 2024, 4,800 shares were issued to non-employee directors and there were 45,200 shares remaining under the Director Compensation Plan. Stock-based compensation expense related to the Director Compensation Plan was $72,000 and $80,000 for the for the years ended December 31, 2024 and 2023, respectively.
v3.25.1
Note 15 - Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions

Note 15 - Related Party Transactions

QNB has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal shareholders, their immediate families and affiliated companies. The following table presents activity and amounts due from directors, principal officers, and their related interests. All of these transactions were made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable

transactions with other persons. These transactions did not involve more than normal risk of collectability or present any other unfavorable features.

 

Balance, December 31, 2023

 

$

16,547

 

New loans

 

 

20,851

 

Repayments

 

 

(18,306

)

Balance, December 31, 2024

 

$

19,092

 

 

The following table provides additional information regarding transactions with related parties.

 

 December 31,

 

2024

 

 

2023

 

Commitments to extend credit

 

$

5,627

 

 

$

5,763

 

Letters of credit

 

 

2,050

 

 

 

2,050

 

Deposits received

 

 

7,232

 

 

 

6,023

 
v3.25.1
Note 16 - Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 16 - Commitments and Contingencies

Financial instruments with off-balance sheet risk:

In the normal course of business there are various legal proceedings, commitments, and contingent liabilities which are not reflected in the Consolidated Financial Statements. Management does not anticipate any material losses as a result of these transactions and activities. They include, among other things, commitments to extend credit and standby letters of credit. The maximum exposure to credit loss, which represents the possibility of sustaining a loss due to the failure of the other parties to a financial instrument to perform according to the terms of the contract, is represented by the contractual amount of these instruments. QNB uses the same lending standards and policies in making credit commitments as it does for on-balance sheet instruments. The activity is controlled through credit approvals, control limits, and monitoring procedures. QNB applies the resulting loss factors under the allowance for credit losses on loans to its unused commitments, assuming: additional funding for commercial lines up to the average line usage for non-pass rated lines with no current usage; and, additional funding up to the average line usage for retail lines with no current usage. This resulted in an allowance for credit losses on unused commitments of $87,000 at December 31, 2024 and $106,000 at December 31, 2023, which is included in other liabilities on the Consolidated Balance Sheets.

A summary of the Bank's financial instrument commitments is as follows:

 

December 31,

 

2024

 

 

2023

 

Commitments to extend credit and unused lines of credit

 

$

329,509

 

 

$

378,954

 

Standby letters of credit

 

 

19,018

 

 

 

18,820

 

Total financial instrument commitments

 

$

348,527

 

 

$

397,774

 

 

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. QNB evaluates each customer’s creditworthiness on a case-by-case basis.

Standby letters of credit are conditional commitments issued by the Bank to guarantee the financial or performance obligation of a customer to a third party. QNB’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making conditional obligations as it does for on-balance sheet instruments. Standby letters of credit totaling $15,988,000 expire within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. The Bank requires collateral and personal guarantees supporting these letters of credit as deemed necessary. The amount of collateral obtained for letters of credit and commitments to extend credit is based on management’s credit evaluation of the customer. Collateral varies, but may include real estate, accounts receivable, marketable securities, pledged deposits, inventory or equipment. Management believes that the proceeds obtained through a liquidation of such collateral and the enforcement of personal guarantees would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. The amount of the liability as of December 31, 2024 and 2023 for guarantees under standby letters of credit issued is not material.

Other commitments:

QNB has committed to various operating leases for several of their branch and office facilities. Some of these leases include specific provisions relating to rent increases. A maturity analysis of the operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:

 

 

 

Operating Leases

 

2025

 

$

652

 

2026

 

 

504

 

2027

 

 

431

 

2028

 

 

351

 

2029

 

 

273

 

Thereafter

 

 

1,926

 

Total undiscounted cashflows

 

 

4,137

 

Total discount on cashflows

 

 

(1,211

)

Total lease liabilities

 

$

2,926

 

 

Some of the leases contain renewal options to extend the initial terms of the lease for periods ranging from five to ten years and certain leases allow for multiple extensions, the commitment for such renewals is not included above if they have not been exercised as of December 31, 2024. Operating lease costs, which include common area maintenance costs not included in the minimum lease payments above, for the years ended December 31, 2024, 2023 and 2022, was $734,000, $723,000 and $712,000, respectively.

v3.25.1
Note 17 - Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2024
Other Comprehensive Income (Loss), Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)

Note 17 - Accumulated Other Comprehensive Income (Loss)

The following shows the components of accumulated other comprehensive income (loss) during the periods ended December 31, 2024, 2023 and 2022:

 

December 31,

 

2024

 

 

2023

 

 

2022

 

Unrealized net holding loss on available-for-sale securities

 

$

(79,832

)

 

$

(85,996

)

 

$

(102,692

)

Tax effect*

 

 

17,186

 

 

 

18,059

 

 

 

21,565

 

Accumulated other comprehensive (loss) income, net of tax

 

$

(62,646

)

 

$

(67,937

)

 

$

(81,127

)

* At blended rates of federal and state tax rates of 21.5%, 21.0% and 21.0%

 

The following table presents amounts reclassified out of accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022:

 

 

 

Amount reclassified from accumulated other
comprehensive income (loss)

 

 

 

Details about accumulated other comprehensive (loss) income

 

2024

 

 

2023

 

 

2022

 

 

Affected line item in statement of income

Realized net holding loss on available-for-sale securities

 

$

(1,096

)

 

$

(2,058

)

 

$

(139

)

 

Net (loss) gain on sales of investment securities

 

 

 

 

 

 

 

 

 

 

 

 

Tax effect*

 

 

230

 

 

 

432

 

 

 

29

 

 

Provision for income taxes

Total reclassification out of accumulated other
   comprehensive (loss) income, net of tax

 

$

(866

)

 

$

(1,626

)

 

$

(110

)

 

Net of tax

** At blended rates of federal and state tax rates of 21.0%, 21.0% and 21.0%
v3.25.1
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Fair Values of Financial Instruments

Note 18 - Fair Value Measurements and Fair Values of Financial Instruments

FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants (fair values are not adjusted for transaction costs). ASC 820 also establishes a framework (fair value hierarchy) for measuring fair value under US GAAP and expands disclosures about fair value measurements.

ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

 

Level 1:

 

Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

 

 

 

Level 2:

 

Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

 

 

 

Level 3:

 

Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

 

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The measurement of fair value should be consistent with one of the following valuation techniques: market approach, income approach, and/or cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities (including a business). For example, valuation techniques consistent with the market approach often use market multiples derived from a set of comparables. Multiples might lie in ranges with a different multiple for each comparable. The selection of where within the range the appropriate multiple falls requires judgment, considering factors specific to the measurement (qualitative and quantitative). Valuation techniques consistent with the market approach include matrix pricing. Matrix pricing is a mathematical technique used principally to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the security’s relationship to other benchmark quoted securities.

For financial assets measured at fair value on a recurring and nonrecurring basis, the fair value measurements by level within the fair value hierarchy used were as follows:

 

December 31, 2024

 

Quoted prices
in active
markets
for identical
assets
(Level 1)

 

 

Significant
other
observable
input
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries

 

$

—

 

 

$

18,010

 

 

$

—

 

 

$

18,010

 

U.S. Government agency securities

 

 

—

 

 

 

66,908

 

 

 

—

 

 

 

66,908

 

State and municipal securities (1)

 

 

—

 

 

 

86,352

 

 

 

—

 

 

 

86,352

 

U.S. Government agencies and sponsored enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities (1)

 

 

—

 

 

 

198,510

 

 

 

—

 

 

 

198,510

 

Collateralized mortgage obligations (CMOs)

 

 

—

 

 

 

161,646

 

 

 

—

 

 

 

161,646

 

Corporate debt securities and money market funds

 

 

—

 

 

 

15,082

 

 

 

51

 

 

 

15,133

 

Total securities available-for-sale

 

 

—

 

 

 

546,508

 

 

 

51

 

 

 

546,559

 

Equity securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total recurring fair value measurements

 

$

—

 

 

$

546,508

 

 

$

51

 

 

$

546,559

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring fair value measurements *

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

1

 

 

 

1

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

1

 

 

$

1

 

(1) Includes derivatives designated as fair value hedging instruments.

* impairment

 

December 31, 2023

 

Quoted prices
in active
markets
for identical
assets
(Level 1)

 

 

Significant
other
observable
input
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries

 

$

—

 

 

$

6,451

 

 

$

—

 

 

$

6,451

 

U.S. Government agency securities

 

 

—

 

 

 

74,122

 

 

 

—

 

 

 

74,122

 

State and municipal securities (1)

 

 

—

 

 

 

89,189

 

 

 

—

 

 

 

89,189

 

U.S. Government agencies and sponsored enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities (1)

 

 

—

 

 

 

224,238

 

 

 

—

 

 

 

224,238

 

Collateralized mortgage obligations (CMOs)

 

 

—

 

 

 

89,973

 

 

 

—

 

 

 

89,973

 

Corporate debt securities

 

 

—

 

 

 

6,157

 

 

 

52

 

 

 

6,209

 

Total securities available-for-sale

 

 

—

 

 

 

490,130

 

 

 

52

 

 

 

490,182

 

Equity securities

 

 

5,910

 

 

 

—

 

 

 

—

 

 

 

5,910

 

Total recurring fair value measurements

 

$

5,910

 

 

$

490,130

 

 

$

52

 

 

$

496,092

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring fair value measurements *

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

—

 

 

$

—

 

 

$

164

 

 

$

164

 

Mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

7

 

 

 

7

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

171

 

 

$

171

 

(1) Includes derivatives designated as fair value hedging instruments.

* impairment

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which QNB has utilized Level 3 inputs to determine fair value:

 

 

 

Quantitative information about Level 3 fair value measurements

 

December 31, 2024

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
input

 

 

Value or range
of values

 

Collateral dependent loans

 

$

—

 

 

Appraisal of collateral

(1)

 

Appraisal adjustments

(2)

 

-100%

 

 

 

 

 

 

 

 

 

Liquidation expenses

(3)

 

 

0

%

Mortgage servicing rights

 

 

1

 

 

Discounted cash flow

 

 

Remaining term

 

 

0.4 to 29.2 yrs

 

 

 

 

 

 

 

 

 

Prepayment Speeds

 

 

90% to 350%

 

 

 

 

 

 

 

 

 

Discount rate

 

 

12.0% to 12.5%

 

 

 

 

Quantitative information about Level 3 fair value measurements

December 31, 2023

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
input

 

 

Value or range
of values

Collateral dependent loans

 

$

164

 

 

Appraisal of collateral

(1)

 

Appraisal adjustments

(2)

 

-20% to -100%

 

 

 

 

 

 

 

 

Liquidation expenses

(3)

 

-10%

Mortgage servicing rights

 

 

7

 

 

Discounted cash flow

 

 

Remaining term

 

 

1.5 to 29.9 yrs

 

 

 

 

 

 

 

 

Prepayment Speeds

 

 

104% to 214%

 

 

 

 

 

 

 

 

Discount rate

 

 

12.0% to 12.5%

 

(1)
Fair value is primarily determined through appraisals of the underlying collateral by independent parties, which generally includes various level 3 inputs which are not always identifiable.
(2)
Appraisals may be adjusted by management for qualitative factors such as economic conditions and the age of the appraisal. The range is presented as a percent of the initial appraised value.
(3)
Appraisals and pending agreements of sale are adjusted by management for estimated liquidation expenses. The range is presented as a percent of the initial appraised value.

 

The following table presents additional information about the securities available-for-sale measured at fair value on a recurring basis and for which QNB utilized significant unobservable inputs (Level 3 inputs) to determine fair value for the year ended December 31:

 

 

 

Fair value measurements using
significant unobservable inputs (Level 3)

 

Securities available-for-sale

 

2024

 

 

2023

 

Balance, beginning of year

 

$

52

 

 

$

53

 

Payments received

 

 

(3

)

 

 

(1

)

Sale of securities

 

 

—

 

 

 

—

 

Total gains or losses (realized/unrealized)

 

 

 

 

 

 

Included in earnings

 

 

—

 

 

 

—

 

Included in other comprehensive
   income

 

 

2

 

 

 

—

 

Transfers in and/or out of Level 3

 

 

—

 

 

 

—

 

Balance, end of year

 

$

51

 

 

$

52

 

 

There were also no transfers in or out of level 3 for the same periods. There were no losses included in earnings attributable to the change in unrealized gains or losses relating to the available-for-sale securities above with fair value measurements utilizing significant unobservable inputs for the years ended December 31, 2024 and 2023.

The Level 3 securities consist of one collateralized debt obligation security (“PreTSL”), which is backed by trust preferred securities issued by banks. The market for this security at December 31, 2024 was not active and markets for similar securities also are not active. The new issue market is also inactive and there are currently very few market participants who are willing and or able to transact for these securities.

Given conditions in the debt markets today and the absence of observable transactions in the secondary and new issue markets, we determined:

•
The few observable transactions and market quotations that are available are not reliable for purposes of determining fair value at December 31, 2024;
•
An income valuation approach technique (present value technique) that maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs will be equally or more representative of fair value than the market approach valuation technique used at prior measurement dates; and
•
PreTSLs will be classified within Level 3 of the fair value hierarchy because significant adjustments are required to determine fair value at the measurement date.

The Bank used an independent third party to value this security using a discounted cash flow analysis. Based on management’s review of the bond’s single underlying issuer, there are no expected credit losses or prepayments; cashflows used were contractual based on the Bloomberg YA screen. The assumed cashflows have been discounted using an estimated market discount rate based on the 30-year swap rate. The 30-year swap rate is used as the reference rate since it is indicative of market expectation for short-term rates in the future. This is consistent with the 30-year nature of PreTSL securities, which are priced using the 3-month LIBOR as a reference rate. The discount rate of 8.6% includes the risk-free rate, a credit component and a spread for illiquidity.

The following information should not be interpreted as an estimate of the fair value of QNB since a fair value calculation is only provided for a limited portion of QNB’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between QNB’s disclosures and those of other companies may not be meaningful.

The following methods and assumptions were used to estimate the fair values of each major classification of financial instrument and non-financial asset at December 31, 2024 and 2023:

Cash and cash equivalents, accrued interest receivable and accrued interest payable (carried at cost): The carrying amounts reported in the balance sheet approximate those assets’ fair value.

 

Investment securities (including derivative instruments) (carried at fair value): The fair value of securities is primarily determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Level 2 debt securities are valued by a third-party pricing service commonly used in the banking industry. Level 2 fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution date,

market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. For certain securities which are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence (Level 3). In the absence of such evidence, management’s best estimate is used. Management’s best estimate consists of both internal and external support on certain Level 3 investments. Cash flow models using a present value formula that includes assumptions market participants would use along with indicative exit pricing obtained from broker/dealers (where available) were used to support fair values of certain Level 3 investments.

 

The fair value of derivatives instruments designated as fair value hedges are based on estimates QNB would receive or pay to terminate the contracts or agreement, taking into account current interest rates and when appropriate, the credit-worthiness of the counterparties; these values are included in Level 2.

 

Restricted investment in stocks (carried at cost): The fair value of stock in ACBB, the FHLB, the SHCPFIC and VISA Class B-2 is the carrying amount, based on redemption provisions, and considers the limited marketability of such securities.

Loans Held for Sale (carried at lower of cost or fair value): The fair value of loans held for sale is determined, when possible, using quoted secondary market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for the specific attributes of that loan.

Loans Receivable (carried at cost): The fair values of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values.

 

Collateral Dependent Loans (generally collateral value less cost to sell): Collateral dependent loans are loans for which the Company has measured generally based on the fair value of the loan’s collateral, less cost to sell. The value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements.
 

Mortgage Servicing Rights (carried at lower of cost or fair value): The fair value of mortgage servicing rights is based on a valuation model that calculates the present value of estimated net servicing income. The mortgage servicing rights are stratified into tranches based on predominant characteristics, such as interest rate, loan type and investor type. The valuation incorporates assumptions that market participants would use in estimating future net servicing income.

Deposit liabilities (carried at cost): The fair value of deposits with no stated maturity (e.g. demand deposits, interest-bearing demand accounts, money market accounts and savings accounts) are by definition, equal to the amount payable on demand at the reporting date (i.e. their carrying amounts). This approach to estimating fair value excludes the significant benefit that results from the low-cost funding provided by such deposit liabilities, as compared to alternative sources of funding. Deposits with a stated maturity (time deposits) have been valued using the present value of cash flows discounted at rates approximating the current market for similar deposits.

Short-term borrowings (carried at cost): The carrying amount of short-term borrowings approximates their fair values.

Long-term debt (carried at cost): Long-term debt has stated maturities and have been valued using the present value of cash flows discounted at rates approximating the current market for similar debt instruments.

Subordinated debt (carried at cost): Subordinated debt has stated maturities and call dates and have been valued using the present value of cash flows discounted at rates approximating the current market for similar debt instruments.

Off-balance-sheet instruments (disclosed at cost): The fair value for the Bank’s off-balance sheet instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing.

Management uses its best judgment in estimating the fair value of QNB’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of the respective period ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each year end.

The estimated fair values and carrying amounts of QNB’s financial and off-balance sheet instruments are summarized as follows:

 

 

 

 

 

 

 

 

 

Fair value measurements

 

December 31, 2024

 

Carrying
amount

 

 

Fair value

 

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

50,713

 

 

$

50,713

 

 

$

50,713

 

 

$

—

 

 

$

—

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale (1)

 

 

546,559

 

 

 

546,559

 

 

 

—

 

 

 

546,508

 

 

 

51

 

Equity

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Restricted investment in bank stocks

 

 

5,436

 

 

 

5,436

 

 

 

—

 

 

 

5,436

 

 

 

—

 

Loand held for sale

 

 

664

 

 

 

664

 

 

 

—

 

 

 

664

 

 

 

—

 

Net loans

 

 

1,207,304

 

 

 

1,212,780

 

 

 

—

 

 

 

—

 

 

 

1,212,780

 

Mortgage servicing rights

 

 

378

 

 

 

556

 

 

 

—

 

 

 

—

 

 

 

556

 

Accrued interest receivable

 

 

4,965

 

 

 

4,965

 

 

 

—

 

 

 

4,965

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with no stated maturities

 

$

1,247,083

 

 

$

1,247,083

 

 

$

1,247,083

 

 

$

—

 

 

$

—

 

Deposits with stated maturities

 

 

381,458

 

 

 

379,960

 

 

 

—

 

 

 

379,960

 

 

 

—

 

Short-term borrowings

 

 

53,844

 

 

 

53,844

 

 

 

53,844

 

 

 

—

 

 

 

—

 

Long-term debt

 

 

30,000

 

 

 

30,033

 

 

 

—

 

 

 

30,033

 

 

 

—

 

Subordinated debt

 

 

39,068

 

 

 

40,600

 

 

 

—

 

 

 

40,600

 

 

 

—

 

Accrued interest payable

 

 

7,580

 

 

 

7,580

 

 

 

—

 

 

 

7,580

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Standby letters of credit

 

 

—

 

 

 

59

 

 

 

—

 

 

 

59

 

 

 

—

 

(1) Includes derivatives designated as fair value hedging instruments.

 

 

 

 

 

 

 

 

 

Fair value measurements

 

December 31, 2023

 

Carrying
amount

 

 

Fair value

 

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

62,657

 

 

$

62,657

 

 

$

62,657

 

 

$

—

 

 

$

—

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale (1)

 

 

490,182

 

 

 

490,182

 

 

 

—

 

 

 

490,130

 

 

 

52

 

Equity

 

 

5,910

 

 

 

5,910

 

 

 

5,910

 

 

 

—

 

 

 

—

 

Restricted investment in bank stocks

 

 

2,730

 

 

 

2,730

 

 

 

—

 

 

 

2,730

 

 

 

—

 

Loand held for sale

 

 

549

 

 

 

560

 

 

 

—

 

 

 

560

 

 

 

—

 

Net loans

 

 

1,084,681

 

 

 

1,077,544

 

 

 

—

 

 

 

—

 

 

 

1,077,544

 

Mortgage servicing rights

 

 

415

 

 

 

585

 

 

 

—

 

 

 

—

 

 

 

585

 

Accrued interest receivable

 

 

6,101

 

 

 

6,101

 

 

 

—

 

 

 

6,101

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with no stated maturities

 

$

1,173,732

 

 

$

1,173,732

 

 

$

1,173,732

 

 

$

—

 

 

$

—

 

Deposits with stated maturities

 

 

314,981

 

 

 

311,735

 

 

 

—

 

 

 

311,735

 

 

 

—

 

Short-term borrowings

 

 

94,094

 

 

 

94,094

 

 

 

94,094

 

 

 

—

 

 

 

—

 

Long-term debt

 

 

20,000

 

 

 

19,906

 

 

 

—

 

 

 

19,906

 

 

 

—

 

Accrued interest payable

 

 

5,294

 

 

 

5,294

 

 

 

—

 

 

 

5,294

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Standby letters of credit

 

 

—

 

 

 

79

 

 

 

—

 

 

 

79

 

 

 

—

 

(1) Includes derivatives designated as fair value hedging instruments.
v3.25.1
Note 19 - Derivatives and Hedging Activities
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Activities

Note 19 - Derivatives and Hedging Activities

 

QNB's risk management objective with respect to derivative financial instruments is to hedge the risk of changes in the fair value of certain fixed-rate available-for-sale investment securities, included in a closed portfolio, for changes in the Secured Overnight Financing Rate ("SOFR"), to add stability to interest income and to manage its exposure to interest rate movements. The effective and ineffective portions of changes in the fair value of each derivative financial instrument is reported in accumulated other comprehensive (loss) income, net of tax, and are reclassified to interest income as interest payments are made or received on the hedged portfolios. QNB assesses the effectiveness of each hedging relationship using a regression analysis of prior periodic changes in fair value of both the hedge and the hedged item. In the assessment of hedge effectiveness, QNB will consider the likelihood of the counterparty's compliance with the contractual terms of the hedging derivative that could require the counterparty to make payments (counterparty default risk). If the likelihood that the counterparty will not default ceases to be probable, the hedge may no longer be highly effective and hedge ineffectiveness due to counterparty payment risk will be assessed.

 

The following table presents the notional amounts of derivatives designated as fair value hedging instruments at December 31, 2024 and 2023. QNB pledges cash or securities to cover the negative fair value of derivatives instruments. Cash collateral associated with the derivative instruments are not added to or netted against the fair value amounts.

 

 

 

At December 31, 2024

 

 

At December 31, 2023

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

 

Interest Rate Swaps-Fair Value Hedges

 

Balance Sheet Classification

 

Notional Amount

 

 

Amortized Cost of Hedged Portfolio

 

 

Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount of Hedged Asset

 

 

Notional Amount

 

 

Amortized Cost of Hedged Portfolio

 

 

Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount of Hedged Asset

 

Investment Securities Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal securities

 

$

75,000

 

 

$

96,709

 

 

$

1,566

 

 

$

75,000

 

 

$

97,373

 

 

$

(445

)

U.S. Government agencies and GSE mortgage backed securities

 

 

225,000

 

 

 

309,546

 

 

 

3,264

 

 

 

225,000

 

 

 

343,453

 

 

 

(1,304

)

Total

 

$

300,000

 

 

$

406,255

 

 

$

4,830

 

 

$

300,000

 

 

$

440,826

 

 

$

(1,749

)

 

The following table presents amounts of included in the Consolidated Statements on Income for derivatives designated as fair value hedging instruments for the years ended December 31, 2024 and 2023.

 

For the year ended

 

December 31,

 

Income Sheet Classification

 

2024

 

 

2023

 

Interest and dividends on available-for-sale and equity securities:

 

 

 

 

 

 

State and municipal securities

 

 

 

 

 

 

Recognized on fair value hedge

 

$

3,910

 

 

$

2,180

 

Recognized on hedge portfolio

 

 

(2,664

)

 

 

(1,470

)

Recognized on remeasurement of fair value hedge

 

 

10

 

 

 

16

 

U.S. Government agencies and GSE mortgage backed securities

 

 

 

 

 

 

Recognized on fair value hedge

 

 

11,731

 

 

 

6,517

 

Recognized on hedge portfolio

 

 

(8,243

)

 

 

(4,483

)

Recognized on remeasurement of fair value hedge

 

 

34

 

 

 

41

 

Total

 

$

4,778

 

 

$

2,801

 

 

 

 
v3.25.1
Note 19 - Revenue Recognition from Contracts with Customers
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition from Contracts with Customers

Note 20 - Revenue Recognition from Contracts with Customer

 

QNB generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 that significantly affects the determination of the amount and timing of revenue from contracts with customers. The main types of revenue contracts included in non-interest income within the Consolidated Statements of Income are as follows:

 

•
Fees for services to customers—fees include service charges on deposits which are included as liabilities in the consolidated statement of financial position and consist of transaction-based fees, stop payment fees, Automated Clearing House (ACH) fees, account maintenance fees, and overdraft services fees for various retail and business checking customers. These fees are charged as earned on the day of the transaction or within the month of the service, with the exception of Enhanced Account Analysis Fees, which are calculated on the previous month’s activity and assessed on the following month. The Enhanced Account Analysis Fees are currently being accrued; the revenue is currently being recorded in the month it is earned. Service charges on deposits are withdrawn directly from the customer’s account balance.
•
ATM and debit card – fees are recognized at the time the transaction is executed as that is the point in time QNB fulfills the customer’s request.
•
Retail brokerage and advisory—fee income and related expenses are accrued monthly to properly record the revenues in the month they are earned. Advisory fees are collected in advance on a quarterly basis. These advisory fees are received in the first month of the quarter for which the service is being performed and recognized evenly in each month of the quarter. Fees that are transaction based are recognized at the point in time that the transaction is executed (i.e. trade date).
•
Merchant – QNB earns interchange fees from credit/debit cardholder transactions conducted through VISA/MasterCard payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized monthly, concurrently with the transaction processing services provided to the cardholder within the month.
•
Other—includes credit card fees, sales of checks to depositors, miscellaneous fees and gain/losses on sale of other real estate owned (OREO).
•
Credit card fees are recognized monthly, concurrently with the transaction processing services provided to the cardholder within the month.
•
Sales of checks to depositors are commissions earned from a third-party who provides checks to QNB’s customers. There is a pre-paid incentive with the third party which is recognized over the term of the contract. Other commissions on the sales of checks are recorded weekly.
•
Miscellaneous fees, such as wire, cashier check and garnishment fees, are charged as earned on the day of the transaction.
•
Gain (loss) on sales of OREO – QNB records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When QNB finances the sale of OREO to the buyer, QNB assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, QNB adjusts the transaction prices and related gain (loss) on sale if a significant financing component is present.
v3.25.1
Note 21 - Parent Company Financial Information
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Information

Note 21 - Parent Company Financial Information

Condensed financial statements of QNB Corp. only:

 

Balance Sheets

 

 

 

 

 

 

December 31,

 

2024

 

 

2023

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

       Balances with subsidiary or affiliated depository institutions

 

$

1,193

 

 

$

—

 

       Balances with unrelated depository institutions

 

 

3,414

 

 

 

565

 

Investment securities:

 

 

 

 

 

 

Available-for-sale (amortized cost $18,004 and $6,448)

 

 

18,010

 

 

 

6,451

 

Equity securities (cost of $0 and $5,695)

 

 

—

 

 

 

5,910

 

Investment in subsidiary

 

 

120,576

 

 

 

77,173

 

Other assets

 

 

674

 

 

 

752

 

Total assets

 

$

143,867

 

 

$

90,851

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Subordinated debt

 

$

39,068

 

 

$

—

 

Other liabilities

 

 

1,450

 

 

 

27

 

Total liabilities

 

 

40,518

 

 

 

27

 

Shareholders' equity

 

 

103,349

 

 

 

90,824

 

Total liabilities and shareholders' equity

 

$

143,867

 

 

$

90,851

 

 

Statements of Income

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Dividends from subsidiary

 

$

7,023

 

 

$

4,407

 

 

$

4,329

 

Interest, dividend and other income

 

 

733

 

 

 

517

 

 

 

358

 

Securities gains (losses)

 

 

517

 

 

 

(19

)

 

 

405

 

Net unrealized (loss) gain on investment equity securities

 

 

(215

)

 

 

250

 

 

 

(1,026

)

Total income

 

 

8,058

 

 

 

5,155

 

 

 

4,066

 

Expenses

 

 

1,923

 

 

 

661

 

 

 

496

 

Income before applicable income taxes and equity in
   undistributed income of subsidiary

 

 

6,135

 

 

 

4,494

 

 

 

3,570

 

Provision for income tax (benefit) expense

 

 

(99

)

 

 

(1

)

 

 

(235

)

Income before equity in undistributed income of subsidiary

 

 

6,234

 

 

 

4,495

 

 

 

3,805

 

Equity in undistributed income of subsidiary

 

 

5,214

 

 

 

4,988

 

 

 

12,116

 

Net income

 

$

11,448

 

 

$

9,483

 

 

$

15,921

 

 

Statements of Comprehensive Income (Loss)

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

 

 

Before
tax
amount

 

 

Tax
expense
(benefit)

 

 

Net of
tax
amount

 

 

Before
tax
amount

 

 

Tax
expense
(benefit)

 

 

Net of
tax
amount

 

 

Before
tax
amount

 

 

Tax
expense
(benefit)

 

 

Net of
tax
amount

 

Net income

 

$

14,359

 

 

$

2,911

 

 

$

11,448

 

 

$

11,727

 

 

$

2,244

 

 

$

9,483

 

 

$

19,586

 

 

$

3,665

 

 

$

15,921

 

Other comprehensive income/(loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gain/(loss) on available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding (loss)/gain arising during the period

 

 

5,068

 

 

 

643

 

 

 

4,425

 

 

 

14,638

 

 

 

3,074

 

 

 

11,564

 

 

 

(98,097

)

 

 

(20,600

)

 

 

(77,497

)

Reclassification adjustment for loss included in net income

 

 

1,096

 

 

 

230

 

 

 

866

 

 

 

2,058

 

 

 

432

 

 

 

1,626

 

 

 

139

 

 

 

29

 

 

 

110

 

Other comprehensive income/(loss):

 

 

6,164

 

 

 

873

 

 

 

5,291

 

 

 

16,696

 

 

 

3,506

 

 

 

13,190

 

 

 

(97,958

)

 

 

(20,571

)

 

 

(77,387

)

Total comprehensive income (loss)

 

$

20,523

 

 

$

3,784

 

 

$

16,739

 

 

$

28,423

 

 

$

5,750

 

 

$

22,673

 

 

$

(78,372

)

 

$

(16,906

)

 

$

(61,466

)

 

 

Statements of Cash Flows

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Operating Activities

 

 

 

 

 

 

 

 

 

Net income

 

$

11,448

 

 

$

9,483

 

 

$

15,921

 

Adjustments to reconcile net income to net cash provided
   by operating activities:

 

 

 

 

 

 

 

 

 

Equity in undistributed income from subsidiary

 

 

(5,214

)

 

 

(4,988

)

 

 

(12,116

)

Net securities gains (losses)

 

 

(517

)

 

 

19

 

 

 

(405

)

Net unrealized loss (gain) on investment equity securities

 

 

215

 

 

 

(250

)

 

 

1,026

 

Stock-based compensation expense

 

 

199

 

 

 

185

 

 

 

85

 

Accretion of discounts on investment securities

 

 

(349

)

 

 

(174

)

 

 

(6

)

Amortization of deferred costs on subordinated debt

 

 

56

 

 

 

—

 

 

 

—

 

Increase (decrease) in other liabilities

 

 

210

 

 

 

(36

)

 

 

(266

)

Decrease (increase) in other assets

 

 

77

 

 

 

(122

)

 

 

(121

)

Deferred income tax (benefit) provision

 

 

226

 

 

 

42

 

 

 

(285

)

Net cash provided by operating activities

 

 

6,351

 

 

 

4,159

 

 

 

3,833

 

Investing activities

 

 

 

 

 

 

 

 

 

Purchase of investment equity securities

 

 

(1,170

)

 

 

(2,179

)

 

 

(1,860

)

Purchase of investment securities available-for-sale

 

 

(35,783

)

 

 

(14,275

)

 

 

(1,193

)

Proceeds from sale of investment equity securities

 

 

7,382

 

 

 

8,556

 

 

 

1,594

 

Proceeds from maturities of investment securities available-for-sale

 

 

24,575

 

 

 

7,800

 

 

 

900

 

Capital contribution to Bank

 

 

(32,900

)

 

 

—

 

 

 

—

 

Net cash (used) provided by investing activities

 

 

(37,896

)

 

 

(98

)

 

 

(559

)

Financing activities

 

 

 

 

 

 

 

 

 

Issuance of subordinated debt

 

 

40,000

 

 

 

—

 

 

 

—

 

Cash dividend paid

 

 

(4,798

)

 

 

(4,671

)

 

 

(4,498

)

Treasury stock purchase

 

 

—

 

 

 

—

 

 

 

(75

)

Proceeds from issuance of common stock

 

 

385

 

 

 

822

 

 

 

418

 

Net cash provided by (used) by financing activities

 

 

35,587

 

 

 

(3,849

)

 

 

(4,155

)

Increase (decrease) in cash and cash equivalents

 

 

4,042

 

 

 

212

 

 

 

(881

)

Cash and cash equivalents at beginning of year

 

 

565

 

 

 

353

 

 

 

1,234

 

Cash and cash equivalents at end of year

 

$

4,607

 

 

$

565

 

 

$

353

 

 
v3.25.1
Note 20 - Regulatory Restrictions
 12 Months Ended
Dec. 31, 2024
Regulated Operations [Abstract]  
Regulatory Restrictions

Note 22 - Regulatory Restrictions

Dividends payable by the Company and the Bank are subject to various limitations imposed by statutes, regulations and policies adopted by bank regulatory agencies. Under Pennsylvania and Federal banking law, the Bank is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. Under Federal Reserve regulations, the Bank is limited as to the amount it may lend affiliates, including the Company, unless such loans are collateralized by specific obligations.

Both the Company and the Bank are subject to regulatory capital requirements administered by Federal bank regulatory agencies. Failure to meet minimum capital requirements can initiate actions by regulators that could have an effect on the financial statements. Under the framework for prompt corrective action, both the Company and the Bank must meet capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items. The capital amounts and classification are also subject to qualitative judgments by the regulators. Management believes, as of December 31, 2024, that the Company and the Bank met capital adequacy requirements to which they were subject.

The Bank is presently considered to be “well capitalized” under the regulatory framework. To be categorized as well capitalized, the Company and the Bank must maintain minimum ratios set forth in the table below. The Company and the Bank’s actual capital amounts and ratios are presented as follows:

 

 

 

Capital levels

 

 

 

Actual

 

 

Adequately capitalized

 

 

Well capitalized

 

As of December 31, 2024

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

Total risk-based capital (to risk-weighted
   assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

214,826

 

 

 

15.56

%

 

 

110,480

 

 

 

8.00

%

 

 

138,100

 

 

 

10.00

%

Bank

 

 

192,057

 

 

 

13.92

 

 

 

110,396

 

 

8.00

 

 

 

137,995

 

 

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

165,995

 

 

 

12.02

 

 

 

82,860

 

 

6.00

 

 

 

82,860

 

 

6.00

 

Bank

 

 

183,226

 

 

 

13.28

 

 

 

82,797

 

 

6.00

 

 

 

110,396

 

 

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common equity tier 1 capital (to risk-
   weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

165,995

 

 

 

12.02

 

 

 

62,145

 

 

4.50

 

 

N/A

 

 

N/A

 

Bank

 

 

183,226

 

 

 

13.28

 

 

 

62,098

 

 

4.50

 

 

 

89,696

 

 

6.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

165,995

 

 

 

8.70

 

 

 

76,357

 

 

4.00

 

 

N/A

 

 

N/A

 

Bank

 

 

183,226

 

 

 

9.71

 

 

 

75,483

 

 

4.00

 

 

 

94,353

 

 

5.00

 

 

 

 

Capital levels

 

 

 

Actual

 

 

Adequately capitalized

 

 

Well capitalized

 

As of December 31, 2023

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

Total risk-based capital (to risk-weighted
   assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

167,711

 

 

 

13.09

%

 

 

102,513

 

 

 

8.00

%

 

 

128,142

 

 

 

10.00

%

Bank

 

 

154,062

 

 

 

12.20

 

 

 

101,032

 

 

8.00

 

 

 

126,290

 

 

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

158,753

 

 

 

12.39

 

 

 

76,885

 

 

6.00

 

 

 

76,885

 

 

6.00

 

Bank

 

 

145,104

 

 

 

11.49

 

 

 

75,774

 

 

6.00

 

 

 

101,032

 

 

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common equity tier 1 capital (to risk-
   weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

158,753

 

 

 

12.39

 

 

 

57,664

 

 

4.50

 

 

N/A

 

 

N/A

 

Bank

 

 

145,104

 

 

 

11.49

 

 

 

56,830

 

 

4.50

 

 

 

82,088

 

 

6.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

158,753

 

 

 

8.92

 

 

 

71,185

 

 

4.00

 

 

N/A

 

 

N/A

 

Bank

 

 

145,104

 

 

 

8.18

 

 

 

70,961

 

 

4.00

 

 

 

88,701

 

 

5.00

 
v3.25.1
Note 21 - Consolidated Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

Note 23 - Consolidated Quarterly Financial Data (Unaudited)

The unaudited quarterly results of operations for the years ended 2024 and 2023 are in the following table:

 

 

 

Quarters Ended 2024

 

 

Quarters Ended 2023

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Interest income

 

$

19,569

 

 

$

20,345

 

 

$

21,945

 

 

$

22,209

 

 

$

15,463

 

 

$

15,865

 

 

$

18,497

 

 

$

19,257

 

Interest expense

 

 

9,401

 

 

 

9,753

 

 

 

10,818

 

 

 

11,234

 

 

 

5,046

 

 

 

6,532

 

 

 

8,284

 

 

 

9,065

 

Net interest income

 

 

10,168

 

 

 

10,592

 

 

 

11,127

 

 

 

10,975

 

 

 

10,417

 

 

 

9,333

 

 

 

10,213

 

 

 

10,192

 

(Reversal of) provision for credit losses

 

 

(86

)

 

 

114

 

 

 

159

 

 

 

(255

)

 

 

(1,805

)

 

 

209

 

 

 

459

 

 

 

293

 

Non-interest income

 

 

1,836

 

 

 

1,465

 

 

 

1,967

 

 

 

1,645

 

 

 

1,219

 

 

 

1,580

 

 

 

1,755

 

 

 

283

 

Non-interest expense

 

 

8,833

 

 

 

8,934

 

 

 

8,636

 

 

 

9,081

 

 

 

8,200

 

 

 

8,492

 

 

 

8,671

 

 

 

8,746

 

Income before income taxes

 

 

3,257

 

 

 

3,009

 

 

 

4,299

 

 

 

3,794

 

 

 

5,241

 

 

 

2,212

 

 

 

2,838

 

 

 

1,436

 

Provision for income taxes

 

 

663

 

 

 

544

 

 

 

961

 

 

 

743

 

 

 

1,123

 

 

 

325

 

 

 

494

 

 

 

302

 

Net Income

 

$

2,594

 

 

$

2,465

 

 

$

3,338

 

 

$

3,051

 

 

$

4,118

 

 

$

1,887

 

 

$

2,344

 

 

$

1,134

 

Earnings Per Share - basic *

 

$

0.71

 

 

$

0.67

 

 

$

0.91

 

 

$

0.83

 

 

$

1.15

 

 

$

0.52

 

 

$

0.65

 

 

$

0.31

 

Earnings Per Share - diluted *

 

$

0.71

 

 

$

0.67

 

 

$

0.91

 

 

$

0.83

 

 

$

1.15

 

 

$

0.52

 

 

$

0.65

 

 

$

0.31

 

 

* Due to rounding, quarterly earnings per share may not sum to annual earnings per share

v3.25.1
Note 1 - Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Segment Reporting

Segment Reporting

The Company manages and operates its business as a single operating segment. The segment's financial information is the same as presented in the Consolidated Financial Statements. The segment is locally managed and provides a full range of commercial, retail banking and retail brokerage services. The Company's Banking segment is determined by the President and Chief Executive Officer ("CEO") who is the chief operating decision maker (the "CODM"). The CODM evaluates the financial performance of the Company's business components using consolidated revenue, expenses, balance sheet growth and financial ratios to budget and prior periods to determine the allocation of resources and to measure performance. The CODM utilizes consolidated net income to benchmark the Company against its competitors and peer group. This information is used by the CODM to achieve strategic initiatives and allocate resources. Significant revenues are provided by loans, investments and deposits. Significant expenses include interest expense, the provision for credit losses and payroll.
Basis of Presentation

Basis of Presentation

The Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiary, the Bank. The consolidated entity is referred to herein as “QNB”. All significant inter-company accounts and transactions have been eliminated in the Consolidated Financial Statements.

Tabular information, other than share and per share data, is presented in thousands of dollars. Certain prior period amounts have been reclassified to conform with the current year’s presentation.
Use of Estimates

Use of Estimates

These statements are prepared in accordance with Accounting Principles Generally Accepted in the United States of America (“US GAAP”) and predominant practices within the banking industry. The preparation of these Consolidated Financial Statements requires QNB to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. QNB evaluates estimates on an on-going basis. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the fair value of financial instruments, impairment of investment securities, the determination of impairment of restricted bank stock and the valuation of deferred tax assets and income taxes. QNB bases its estimates on historical experience and various other factors and assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Significant Group Concentrations of Credit Risk

Significant Group Concentrations of Credit Risk

Most of the QNB’s activities are with customers located within Bucks, Montgomery and Lehigh Counties in southeastern Pennsylvania. Note 4 discusses the types of investment securities in which the QNB invests. Note 5 discusses the types of lending in which QNB engages. QNB does not have any significant concentrations to any one industry or customer other than what is discussed in Note 5. Although QNB has a diversified loan portfolio, its debtors’ ability to honor their contracts is influenced by the region’s economy.
Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of the statement of cash flows, cash and cash equivalents consist of cash on hand, cash items in process of collection, amounts due from banks, interest-bearing deposits in the Federal Reserve Bank and other banks and Federal funds sold. QNB maintains a portion of its interest-bearing deposits at various commercial financial institutions. At times, the balances exceed the FDIC insured limits; QNB has not experienced a loss due to the balances exceeding FDIC limits.
Trading Securities and Investment Securities

Investment Securities

Investment debt securities that QNB has the positive intent and ability to hold to maturity are classified as held-to-maturity securities and reported at amortized cost. Interest is included in interest income. Debt securities not classified as either held-to-maturity securities or trading securities are classified as available-for-sale debt securities and reported at fair value, with unrealized gains and losses, net of tax, excluded from earnings and reported in other comprehensive income or loss, a separate component of shareholders’ equity. Management determines the appropriate classification of securities at the time of purchase.

Available-for-sale debt securities include securities that management intends to use as part of its asset/liability management strategy and that may be sold in response to changes in credit ratings, changes in market interest rates and related changes in the securities’ prepayment risk or to meet liquidity needs.

Premiums and discounts on debt securities are recognized in interest income using a constant yield method. Gains and losses on sales of available-for-sale securities are recorded on the trade date and are computed on the specific identification method and included in non-interest income.

Equity investments with readily determinable fair values are measured at fair value. The changes in fair value are recognized in net income. Dividends are included in interest income.
Impairment of Investment Securities

Impairment of Investment Securities

Securities are evaluated periodically to determine whether a decline in their value is impairment. Management utilizes criteria such as the magnitude and duration of the decline, in addition to the reasons underlying the decline, to determine whether the loss in value is impairment. The term impairment is not intended to indicate that the decline is permanent, it indicates that the prospect for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. For equity securities that do not have readily-determinable fair values, once a decline in value is determined to be impairment, the value of the equity security is reduced and a corresponding charge to earnings is recognized.

QNB follows the accounting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 326-30 as it relates to the recognition and presentation of impairment. This accounting guidance specifies that (a) if a company does not have the intent to sell a debt security prior to recovery and (b) it is more likely than not that it will not have to sell the debt security prior to recovery, the security would not be considered impaired unless there is a credit loss. When an entity does not intend to sell the security, and it is more likely than not, the entity will not have to sell the security before recovery of its cost basis, it will recognize the credit component of an impairment of a debt security in earnings and the remaining portion in other comprehensive income.

Derivatives and Hedges

Derivatives and Hedges

The fair value hedges are accounted for under Derivatives and Hedging (Topic 815). QNB adopted ASU 2022-01 Derivatives and Hedging (Topic 815): Fair Value Hedging--Portfolio Layer Method ("ASC 2022-01") as of January 1, 2023. ASC 2022-01 allows for the use of an amortizing notional swap when entering a portfolio layer method hedge. This guidance allows the interest rate swap to be considered a hedge of a single layer of portfolio. QNB's risk management objective with respect to derivative financial instruments is to hedge the risk of changes in the fair value of certain fixed-rate investment securities, included in a closed portfolio, for changes in the Secured Overnight Financing Rate ("SOFR"). The changes in the fair value of each derivative financial instrument is reported in accumulated other comprehensive (loss) income, net of tax, and are reclassified to interest income as interest payments are made or received on the hedged portfolios. QNB assesses the effectiveness of each hedging relationship using a regression analysis of prior periodic changes in fair value of both the hedge and the hedged item. In the assessment of hedge effectiveness, QNB considers the likelihood of the counterparty's compliance with the contractual terms of the hedging derivative that could require the counterparty to make payments (counterparty default risk). If the likelihood that the counterparty will not default ceases to be probable, the hedge may no longer be highly effective and hedge ineffectiveness due to counterparty payment risk will be assessed.
Restricted Investment in Stock

Restricted Investment in Stock

Restricted stock is comprised of Federal Home Loan Bank of Pittsburgh (“FHLB”) in the amount of $3,510,000, the Atlantic Community Bankers Bank in the amount of $12,000, VISA Class B-2 stock with a carrying cost of $0, and Senior Housing Crime Prevention Investment Corporation ("SHCPFIC") preferred stock of $1,000,000 at December 31, 2024. Federal law requires a member institution of the FHLB to hold stock of its district bank according to a predetermined formula. These restricted securities are carried at cost and evaluated for impairment periodically. As of December 31, 2024, there was no impairment associated with these securities.

 

The Bank has a $914,000 non-controlling investment in a discrete class of non-voting limited liability company membership interests

issued by National Energy Improvement Fund, LLC (“NEIF”), a Pennsylvania limited liability company licensed in Pennsylvania as a

consumer discount company. The proceeds of the investment will be used by NEIF to fund a State-sponsored consumer loan program,

the KEEP Home Energy Loan Program, designed to assist Pennsylvania homeowners in reducing their energy costs.
 

The Bank owns 3,251 shares of Visa Class B-2 stock post conversion of its original Class B shares, which was necessary to participate in Visa services in support of the Bank’s credit card, debit card, and related payment programs (permissible activities under banking regulations) as a member institution. Following the resolution of Visa’s covered litigation, shares of Visa’s Class B-2 stock will be converted to Visa Class A shares using a conversion factor (1.5430 as of September 26, 2024), which is periodically adjusted to reflect VISA’s ongoing litigation costs. There is a very limited market for this stock, as only current owners of Class B-2 shares are permitted to transact in Class B-2. Due to the lack of orderly trades and public information of such trades, Visa Class B-2 does not have a readily determinable fair value.

The Bank owns 100 shares of preferred stock of SHCPFIC. These shares are not transferable without the consent of SHCPFIC and does not have a readily determinable fair value.

Loans

Loans

Loans are segmented and reported on a pool basis with similar risk characteristics; these segments or pools are identified in Note 5. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are stated at the principal amount outstanding, net of deferred loan fees and costs. Interest income is accrued on the principal amount outstanding. Loan origination and commitment fees net of related direct costs are deferred and amortized to income over the term of the respective loan and loan commitment period as a yield adjustment.

Loans held-for-sale consist of residential mortgage loans and are carried at the lower of aggregate cost or fair value. Net unrealized losses, if any, are recognized through a valuation allowance charged to income. Gains and losses on residential mortgages held-for-sale are included in non-interest income.
Non-Performing Assets

Non-Performing Assets

Non-performing assets are comprised of accruing loans past due 90 days or more, non-accrual loans and investment securities, other real estate owned and repossessed assets. Non-accrual loans and investment securities are those on which the accrual of interest has ceased. Loans are placed on non-accrual status immediately if, in the opinion of management, collection is doubtful, or when principal or interest is past due 90 days or more and collateral is insufficient to cover principal and interest. Interest accrued, but not collected at the date a loan is placed on non-accrual status, is reversed and charged against interest income. Loans are returned to an accrual status when the borrower’s ability to make periodic principal and interest payments has returned to normal (i.e. brought current with respect to principal or interest or restructured) and the paying capacity of the borrower and/or the underlying collateral is deemed sufficient to cover principal and interest.

Since the implementation of ASU 326 on January 1, 2023, loan modifications to borrowers experiencing financial difficulty ("FDM") could involve principal forgiveness, term extension, an other-than-insignificant payment delay, interest rate reduction or exchanging or paying off existing debt for new debt with QNB. Any amount forgiven would be charged to the allowance for credit losses. There were $1,000,000 and $0 FDMs at December 31, 2024 and 2023, respectively.

 

Accounting for impairment in the performance of a loan is required when it is probable that all amounts, including both principal and interest, will not be collected in accordance with the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, at the loan’s observable market price or the fair value of the collateral if the loans are collateral dependent. Impairment criteria are applied to the loan portfolio exclusive of smaller homogeneous loans such as residential mortgage and consumer loans which are evaluated collectively for impairment.

Loans are fully charged-off or charged down to net realizable value (fair value of collateral less estimated costs to sell) when deemed uncollectible due to bankruptcy or other factors, or when they reach a defined number of days past due based on loan product, industry practice, terms and other factors.

Loans are considered past due when contractually required principal or interest payments have not been made on the due dates.
Allowance for Credit Losses on Loans and Commitments

Allowance for Credit Losses on Loans and Commitments

QNB maintains an allowance for credit losses on loans ("ACL") , which is intended to absorb probable known and inherent losses in the outstanding loan portfolio. QNB utilizes the Cohort method to calculate its ACL. QNB elected not to measure an allowance for credit losses on accrued interest receivable. The allowance is reduced by actual credit losses and is increased or decreased by the provision (reversal) for loan losses and increased by recoveries of previous losses. The provisions or reversals for credit losses are charged to earnings to bring the total allowance for credit losses on loans to a level considered necessary by management. QNB estimates the ACL via a quantitative analysis and qualitative factors both which consider relevant available information from internal and external sources related to past events and current conditions, as well as the incorporation of reasonable and supportable forecasts.

 

The level of the ACL is determined by assigning specific reserves to all non-accrual loans, except the homogeneous pool of student loans which are measured in the general reserve. An allowance on these non-accrual loans is established when the discounted cash flows (or collateral value) of the loan is lower than the carrying value of that loan. The portion of the allowance that is allocated to non-accrual loans is determined by estimating the inherent loss on each credit after giving consideration to the value of underlying collateral.

 

The general reserve is measured on a pool basis when similar risk characteristics exist; these pools are identified in Note 5. QNB establishes a general valuation allowance for performing loans, including non-accrual student loans. QNB calculates each pool's or segment's historical loss rate using a full economic cycle of loan balance and historical loss experience. The general component is adjusted for qualitative factors. These qualitative risk factors include:

 

1.
Concentrations: QNB adjusts historic loss for concentrations in the current portfolio that were not present during the down-turn of the economic cycle.
2.
Economic Forecast: The QNB utilizes an entire economic cycle of data to determine loss rates by segment. This approach reflects an inherent reversion to the historical losses during life of the loans within the pool considering prepayments and loss experience throughout an entire economic cycle. However, QNB feels it is prudent to maintain a floor in its ACL model to assure that there is enough reserve on hand to sustain any losses upon a possible recession.

 

Management emphasizes loan quality and close monitoring of potential problem credits. Credit risk identification and review processes are utilized in order to assess and monitor the degree of risk in the loan portfolio. QNB’s lending and credit administration staff are charged with reviewing the loan portfolio and identifying changes in the economy or in a borrower’s circumstances which may affect the ability to repay debt or the value of pledged collateral. A loan classification and review system exists that identifies those loans with a higher than normal risk of collectability. Each commercial loan is assigned a grade based upon an assessment of the borrower’s financial capacity to service the debt and the presence and value of collateral for the loan. An independent firm reviews risk assessment and evaluates the adequacy of the ACL. Management meets monthly to review the credit quality of the loan portfolio and quarterly to review the ACL.

 

In addition, various regulatory agencies, as an integral part of their examination process, periodically review QNB's ACL. Such agencies may require QNB to recognize additions to the allowance based on their judgments using information available to them at the time of their examination.

 

Management believes that it uses the best information available to make determinations about the adequacy of the allowance and that it has established its existing ACL in accordance with U.S. GAAP. If circumstances differ substantially from the current calculation, future adjustments to the ACL may be necessary and results of operations could be affected. Because future events affecting borrowers and collateral cannot be predicted with certainty, there can be no assurance that increases to the allowance will not be necessary should the quality of any loans deteriorate.

 

QNB uses the same lending standards and policies in making credit commitments as it does for on-balance sheet instruments. The activity is controlled through credit approvals, control limits, and monitoring procedures. QNB applies the resulting loss factors under the allowance for credit losses on loans to its unused commitments, assuming: additional funding for commercial lines up to the average line usage for non-pass rated lines with no current usage; and, additional funding up to the average line usage for retail lines with no current usage.
Transfers of Financial Assets Transfers of Financial Assets

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from QNB, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) QNB does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Servicing Assets

Servicing Assets

Servicing assets are recognized as separate assets when rights are acquired through the sale of financial assets. When mortgage loans are sold, a portion of the cost of originating the loan is allocated to the servicing rights based on relative fair value. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The Company subsequently measures servicing rights using the amortization method where servicing rights are amortized in proportion to and over the period of estimated net servicing income. On a quarterly basis, an independent third party determines the fair value of QNB’s servicing assets. These assets are evaluated for impairment based upon the fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the capitalized amount for the tranches. If QNB later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the valuation allowance may be recorded as an increase to income. Capitalized servicing rights are reported in other assets and are amortized into other non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets.

Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan and are recorded as other non-interest income when earned and netted against the amortization of mortgage servicing rights.
Premises and Equipment

Premises and Equipment

Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are calculated principally on an accelerated or straight-line basis over the estimated useful lives of the assets, or the shorter of the estimated useful life or lease term for leasehold improvements, as follows:

 

Buildings

 

10 to 39 years

Furniture and equipment

 

3 to 15 years

Leasehold improvements

 

5 to 30 years

 

Expenditures for maintenance and repairs are charged to operations as incurred. Gains or losses upon disposition are reflected in earnings as realized.

 

The “Premises and equipment, net” category on the Consolidated Balance Sheets also includes the right-of-use assets associated with operating leases. The discount rates used in determining the initial value of the right of use assets are based on the FHLB Amortizing Fixed Loan Rate for the term of each lease. QNB typically enters into lease agreements with an initial term of 5 to 10 years and subsequent additional optional terms in increments of 5 years. The lease agreements also contain termination options. None of the leases contain purchase options and none transfer the ownership of the leased asset. QNB has renewed two operating leases during 2024. Operating lease liabilities are included with “Other liabilities” on the Consolidated Balance Sheets. All operating lease costs are included in non-interest expense within “Net occupancy” on the Consolidated Statements of Income. QNB performs an impairment analysis on it right-of-use asset on an annual basis; there were no impairments at December 31, 2024.
Bank-Owned Life Insurance

Bank-Owned Life Insurance

The Bank invests in bank-owned life insurance (“BOLI”) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by the Bank on a select group of employees. The Bank is the owner and beneficiary of the policies. Income from the increase in cash surrender value of the policies as well as the receipt of death benefits is included in non-interest income on the Consolidated Statements of Income. The BOLI policies are an asset that can be liquidated, if necessary, with associated tax costs. However, the Bank intends to hold these policies and, accordingly, has not provided for deferred income taxes on the earnings from the increase in cash surrender value.

The Bank follows the accounting guidance for postretirement benefit aspects of endorsement split-dollar life insurance arrangements which applies to life insurance arrangements that provide an employee with a specified benefit that is not limited to the employee’s active service period, including certain bank-owned life insurance policies. It requires an employer to recognize a liability and related compensation costs for future benefits that extend to postretirement periods. The expense recorded during 2024, 2023 and 2022 was approximately $25,000, $56,000 and $118,000, respectively, and is included in non-interest expense under "Salaries and employee benefits" expense.

Stock-Based Compensation

Stock-Based Compensation

At December 31, 2024, QNB sponsored 2015 Stock Incentive Plan (the "2015 Plan"), administered by a Board committee, under which both qualified and non-qualified stock options may be granted periodically to certain employees. QNB accounts for all awards granted under stock-based compensation plans in accordance with FASB ASC 718, Compensation - Stock Compensation. Compensation cost has been measured using the fair value of an award on the grant date and is recognized over the service period, which is usually the vesting period.

Stock-based compensation expense related to the 2015 Plan was approximately $87,000, $90,000 and $70,000 for the years ended December 31, 2024, 2023 and 2022, respectively. There were $4,000, $3,000 and $2,000 in tax benefits recognized related to the nonqualified compensation and disqualifying dispositions for the years ended December 31, 2024, 2023 and 2022, respectively.

The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the option and each vesting date. QNB estimated the fair value of stock options on the date of the grant using the Black-Scholes option pricing model. The model requires the use of numerous assumptions, many of which are highly subjective in nature. The following assumptions were used in the option pricing model in determining the fair value of options granted during the periods presented.

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Risk free interest rate

 

 

3.98

%

 

 

3.64

%

 

 

1.25

%

Dividend yield

 

 

5.97

%

 

 

4.80

%

 

 

3.64

%

Volatility

 

 

20.96

%

 

 

20.36

%

 

 

22.68

%

Expected life (years)

 

 

8.19

 

 

 

8.35

 

 

 

4.05

 

 

The weighted average fair value per share of options granted during 2024, 2023 and 2022 was $3.08, $4.11 and $5.20, respectively. The risk-free interest rate was selected based upon yields of U.S. Treasury issues with a term equal to the expected life of the option being valued. Historical information was the primary basis for the selection of the expected dividend yield, expected volatility and expected lives of the options.
Income Taxes

Income Taxes

QNB accounts for income taxes under the asset/liability method in accordance with income tax accounting guidance, ASC 740 - Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established against deferred tax assets when, in the judgment of management, it is more likely than not that such deferred tax assets will not become available. Because the judgment about the level of future taxable income is dependent to a great extent on matters that may, at least in part, be beyond QNB’s control, it is at least reasonably possible that management’s judgment about the need for a valuation allowance for deferred taxes could change in the near term.

In connection with the accounting guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions, QNB has evaluated its tax positions as of December 31, 2024. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has more than a 50 percent likelihood of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more-likely-than-not” threshold guidelines, QNB believes no significant uncertain tax positions exist, either individually or in the aggregate, which would give rise to the non-recognition of an existing tax benefit. As of December 31, 2024, QNB had a valuation allowance of $172,000 for unrecognized tax benefits related to non-qualified stock option expense and a state net operating loss as discussed in Note 12. As of December 31, 2024 QNB had no interest expense and no tax penalties. QNB’s policy is to account for interest as a component of interest expense and penalties as a component of other expense. The Company and its subsidiary are subject to U.S. Federal income tax as well as income tax of the Commonwealth of Pennsylvania and the State of New Jersey. Tax years from 2021 to date remain subject to examination by the tax authorities.
Treasury Stock

Treasury Stock

Common stock shares repurchased are recorded as treasury stock at cost.

Earnings Per Share

Earnings Per Share

Basic earnings per share excludes any dilutive effects of options and is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share gives effect to all dilutive potential common shares that were outstanding during the period. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.

Treasury shares are not deemed outstanding for earnings per share calculations.
Comprehensive Income (Loss)

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity of a business entity during a period due to transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. Comprehensive income (loss) consists of net income and other comprehensive income (loss). For QNB, the primary component of other comprehensive income (loss) is the unrealized holding gains or losses on available-for-sale investment securities.
Advertising Costs

Advertising Costs

Advertising costs are recorded in the period they are incurred within operating expenses in non-interest expense in the Consolidated Statements of Income.
Financial Instruments with Off-Balance-Sheet Risk

Financial Instruments with Off-Balance-Sheet Risk

QNB’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of these instruments. QNB uses the same credit policies in making commitments and contractual obligations as it does for on-balance-sheet instruments. QNB reflects its estimate of credit risk for these instruments in “Other liabilities” on the Consolidated Balance Sheet with the corresponding expense recorded in “Provision for credit losses” in the Consolidated Statements of Income.
Subsequent Events

Subsequent Events

QNB has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2024 through the date the Consolidated Financial Statements are being issued for items that should potentially be recognized or disclosed in these Consolidated Financial Statements. QNB identified the following event:

QNB identified additional weakness in a large commercial relationship that was reported as Substandard at December 31, 2024, primarily caused by continued delays in obtaining necessary approvals from the Department of Environmental Protection. The customer's loans totaled $6,695,000 and had unused commitments of $3,306,000 which comprised mostly for the construction of a commercial property. The relationship was placed on non-accrual status in March 2025. Although the relationship is sufficiently collateralized, QNB is in the process of securing additional collateral to support the customers obligations as they await approvals to move forward on the construction of the project.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

In November 2023, the the Financial Accounting Standards Board (FASB) issued ASU 2023-07, Segment Reporting (Topic 280); Improvements to Reportable Segment Disclosures (ASU 2023-07). ASU 2023-07 enhances segment reporting which includes requiring an entity with a single reportable segment to report additional disclosures about how its chief operating decision maker utilizes information to assess segment performance and allocate resources. ASU 2023-07 was effective for fiscal years beginning after December 15, 2023. QNB adopted ASU 2023-07 as of December 31, 2024 on a retrospective basis. There was no impact to QNB's consolidated financial statements and only minimal additional disclosures.

 

 

On March 6, 2024, the Securities and Exchange Commission (SEC) adopted final rules requiring registrants to disclose climate-related information in registration statements and annual reports. These enhanced and standardized disclosures requires that an entity with a signle reportable segment include material climate-related risks, board oversight and risk management activities descriptions, material impacts of these risks on a registrant’s strategy, business model and outlook, and any material climate-related targets or goals.

 

On June 26, 2024, the FASB voted to issue final rules this year that will require public companies to provide enhanced detailed information about their income statement expenses. Companies will be required to break out certain expense items, such as employee compensation and purchases of inventory, in footnotes to their income statements. The standard will apply to fiscal years that start after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption will be permitted prospectively for the disclosure requirements, with optional retrospective application, for both interim and year-end reporting periods

 

In December 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amendments in this ASU enhance the rate reconciliation and income taxes paid disclosures improving the transparency of income tax disclosures and require: (1) consistent categories and greater disaggregation of information in the rate reconciliation; and (2) income taxes paid disaggregated by jurisdiction. This ASU is effective for the Company's reporting periods beginning after December 15, 2024. The Company does not expect the adoption of this ASU will have a material impact on it's financial statements.
v3.25.1
Note 1 - Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Estimated Useful Lives of Assets Depreciation and amortization are calculated principally on an accelerated or straight-line basis over the estimated useful lives of the assets, or the shorter of the estimated useful life or lease term for leasehold improvements, as follows:

 

Buildings

 

10 to 39 years

Furniture and equipment

 

3 to 15 years

Leasehold improvements

 

5 to 30 years
Assumptions Used in Option Pricing Model The following assumptions were used in the option pricing model in determining the fair value of options granted during the periods presented.

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Risk free interest rate

 

 

3.98

%

 

 

3.64

%

 

 

1.25

%

Dividend yield

 

 

5.97

%

 

 

4.80

%

 

 

3.64

%

Volatility

 

 

20.96

%

 

 

20.36

%

 

 

22.68

%

Expected life (years)

 

 

8.19

 

 

 

8.35

 

 

 

4.05

 
v3.25.1
Note 2 - Earnings Per Share and Share Repurchase Plan (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Numerator for basic and diluted earnings per share - net income

 

$

11,448

 

 

$

9,483

 

 

$

15,921

 

Denominator for basic earnings per share - weighted average shares
   outstanding

 

 

3,672,251

 

 

 

3,610,713

 

 

 

3,564,481

 

Effect of dilutive securities - employee stock options

 

 

1,446

 

 

 

—

 

 

 

—

 

Denominator for diluted earnings per share - adjusted weighted
   average shares outstanding

 

 

3,673,697

 

 

 

3,610,713

 

 

 

3,564,481

 

Earnings per share - basic

 

$

3.12

 

 

$

2.63

 

 

$

4.47

 

Earnings per share - diluted

 

$

3.12

 

 

$

2.63

 

 

$

4.47

 
v3.25.1
Note 4 - Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Debt Securities Available-for-sale

The amortized cost and fair values of investment debt securities available-for-sale at December 31, 2024 and 2023 were as follows:

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

 

unrealized

 

 

unrealized

 

 

unrealized

 

 

 

 

 

 

Fair

 

 

holding

 

 

holding

 

 

fair value

 

 

Amortized

 

December 31, 2024

 

value

 

 

gains

 

 

losses

 

 

hedge gains

 

 

cost

 

U.S. Treasuries

 

$

18,010

 

 

$

6

 

 

$

—

 

 

$

—

 

 

$

18,004

 

U.S. Government agency

 

 

66,908

 

 

 

—

 

 

 

(9,051

)

 

 

—

 

 

 

75,959

 

State and municipal

 

 

86,352

 

 

 

—

 

 

 

(20,631

)

 

 

1,566

 

 

 

105,417

 

U.S. Government agencies and sponsored
   enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

198,510

 

 

 

—

 

 

 

(38,902

)

 

 

3,264

 

 

 

234,148

 

Collateralized mortgage obligations (CMOs)

 

 

161,646

 

 

 

31

 

 

 

(15,821

)

 

 

—

 

 

 

177,436

 

Corporate debt and money market funds

 

 

15,133

 

 

 

10

 

 

 

(304

)

 

 

—

 

 

 

15,427

 

Total investment securities available-for-sale

 

$

546,559

 

 

$

47

 

 

$

(84,709

)

 

$

4,830

 

 

$

626,391

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

 

unrealized

 

 

unrealized

 

 

unrealized

 

 

 

 

 

 

Fair

 

 

holding

 

 

holding

 

 

fair value

 

 

Amortized

 

December 31, 2023

 

value

 

 

gains

 

 

losses

 

 

hedge losses

 

 

cost

 

U.S. Treasuries

 

$

6,451

 

 

$

3

 

 

$

—

 

 

$

—

 

 

$

6,448

 

U.S. Government agency

 

 

74,122

 

 

 

—

 

 

 

(10,828

)

 

 

—

 

 

 

84,950

 

State and municipal

 

 

89,189

 

 

 

—

 

 

 

(18,714

)

 

 

(445

)

 

 

108,348

 

U.S. Government agencies and sponsored
   enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

224,238

 

 

 

—

 

 

 

(37,831

)

 

 

(1,304

)

 

 

263,373

 

Collateralized mortgage obligations (CMOs)

 

 

89,973

 

 

 

—

 

 

 

(16,383

)

 

 

—

 

 

 

106,356

 

Corporate debt

 

 

6,209

 

 

 

2

 

 

 

(496

)

 

 

—

 

 

 

6,703

 

Total investment securities available-for-sale

 

$

490,182

 

 

$

5

 

 

$

(84,252

)

 

$

(1,749

)

 

$

576,178

 
Investment Securities by Contractual Maturity The amortized cost and fair value of debt securities available-for-sale by contractual maturity at December 31, 2024 are shown in the following table.

 

 

 

 

 

Amortized

 

December 31, 2024

 

Fair value

 

 

cost

 

Due in one year or less

 

$

18,247

 

 

$

18,231

 

Due after one year through five years

 

 

61,991

 

 

 

68,542

 

Due after five years through ten years

 

 

45,479

 

 

 

50,445

 

Due after ten years

 

 

60,686

 

 

 

77,589

 

 

 

 

186,403

 

 

 

214,807

 

Mortgage-backed securities

 

 

198,510

 

 

 

234,148

 

Collateralized mortgage obligations

 

 

161,646

 

 

 

177,436

 

Total investment securities available-for-sale

 

$

546,559

 

 

$

626,391

 
Realized Gain (Loss) on Investments

The following table presents information related to QNB’s gains and losses on the sales of debt securities, and losses recognized for credit impairments of these investments.

 

December 31,

 

2024

 

 

2023

 

 

2022

 

Gross realized gains

 

$

—

 

 

$

—

 

 

$

8

 

Gross realized losses

 

 

(1,096

)

 

 

(2,058

)

 

 

(147

)

Impairment

 

 

—

 

 

 

—

 

 

 

—

 

Total net losses on available-for-sale securities

 

$

(1,096

)

 

$

(2,058

)

 

$

(139

)
Debt Securities in a Continuous Unrealized Loss Position

Debt securities that have been in a continuous unrealized loss position are as follows:

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasuries

 

 

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

U.S. Government agency

 

 

35

 

 

 

—

 

 

 

—

 

 

 

75,959

 

 

 

(9,051

)

 

 

75,959

 

 

 

(9,051

)

State and municipal

 

 

188

 

 

 

288

 

 

 

(2

)

 

 

84,471

 

 

 

(20,629

)

 

 

84,759

 

 

 

(20,631

)

U.S. Government agencies
   and sponsored enterprises
   (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

153

 

 

 

1

 

 

 

—

 

 

 

234,073

 

 

 

(38,902

)

 

 

234,074

 

 

 

(38,902

)

Collateralized mortgage
   obligations (CMOs)

 

 

154

 

 

 

83,026

 

 

 

(262

)

 

 

78,569

 

 

 

(15,559

)

 

 

161,595

 

 

 

(15,821

)

Corporate debt and money markets

 

 

7

 

 

 

10,672

 

 

 

(28

)

 

 

4,275

 

 

 

(276

)

 

 

14,947

 

 

 

(304

)

Total

 

 

537

 

 

$

93,987

 

 

$

(292

)

 

$

477,347

 

 

$

(84,417

)

 

$

571,334

 

 

$

(84,709

)

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasuries

 

 

1

 

 

$

494

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

494

 

 

$

—

 

U.S. Government agency

 

 

39

 

 

 

—

 

 

 

—

 

 

 

74,122

 

 

 

(10,828

)

 

 

74,122

 

 

 

(10,828

)

State and municipal

 

 

191

 

 

 

380

 

 

 

—

 

 

 

89,238

 

 

 

(18,714

)

 

 

89,618

 

 

 

(18,714

)

U.S. Government agencies
   and sponsored enterprises
   (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

165

 

 

 

1

 

 

 

—

 

 

 

225,500

 

 

 

(37,831

)

 

 

225,501

 

 

 

(37,831

)

Collateralized mortgage
   obligations (CMOs)

 

 

126

 

 

 

—

 

 

 

—

 

 

 

89,973

 

 

 

(16,383

)

 

 

89,973

 

 

 

(16,383

)

Corporate debt

 

 

4

 

 

$

—

 

 

$

—

 

 

$

6,101

 

 

$

(496

)

 

$

6,101

 

 

$

(496

)

Total

 

 

526

 

 

$

875

 

 

$

—

 

 

$

484,934

 

 

$

(84,252

)

 

$

485,809

 

 

$

(84,252

)
Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during 2024, 2023 and 2022:

 

December 31,

 

2024

 

 

2023

 

 

2022

 

Net gain (loss) recognized during the period on equity securities

 

$

1,800

 

 

$

231

 

 

$

(621

)

Less: Net gain (loss) recognized during the period on equity securities sold during the period

 

 

2,015

 

 

 

(19

)

 

 

405

 

Net unrealized (loss) gain recognized during the reporting period on equity securities still held at the reporting date

 

$

(215

)

 

$

250

 

 

$

(1,026

)
v3.25.1
Note 5 - Loans Receivable and the Allowance for Credit Losses on Loans (Tables)
 12 Months Ended
Dec. 31, 2024
Payment Modification to Interest The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by loan class, type of concession granted and the financial effect of the modification:

 

Year ended December 31,

 

2024

Payment Modification to Interest Only for Six Months

 

Amortized Cost Basis

 

 

% of Total Loan Class

 

 

Fiancial Effect

Commercial:

 

 

 

 

 

 

 

 

Real estate secured by owner-occupied properties

 

$

1,000

 

 

 

0.61

%

 

Temporary reduction of principal payments with no extension of term

Total

 

$

1,000

 

 

 

 

 

 
Retail and Commercial Loans [Member]  
Major Classes of Loans

Major classes of loans are as follows:

 

December 31,

 

2024

 

 

2023

 

Commercial:

 

 

 

 

 

 

Commercial and industrial

 

$

153,187

 

 

$

137,086

 

Construction and land development

 

 

129,464

 

 

 

116,173

 

Real estate secured by multi-family properties

 

 

137,461

 

 

 

109,193

 

Real estate secured by owner-occupied properties

 

 

163,955

 

 

 

160,695

 

Real estate secured by other commercial properties

 

 

313,390

 

 

 

265,101

 

Revolving real estate secured by 1-4 family properties-business

 

 

5,652

 

 

 

5,442

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

105,779

 

 

 

103,572

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

3,238

 

 

 

3,445

 

State and political subdivisions

 

 

17,683

 

 

 

18,708

 

Retail:

 

 

 

 

 

 

1-4 family residential mortgages

 

 

114,423

 

 

 

108,906

 

Revolving home equity secured by 1-4 family properties-personal

 

 

48,231

 

 

 

34,231

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

6,561

 

 

 

11,981

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

14,092

 

 

 

15,625

 

Student loans

 

 

1,444

 

 

 

1,662

 

Overdrafts

 

 

209

 

 

 

194

 

Other consumer

 

 

1,782

 

 

 

1,757

 

Total loans

 

 

1,216,551

 

 

 

1,093,771

 

Net unearned (fees) and deferred costs

 

 

(503

)

 

 

(238

)

Allowance for credit losses on loans

 

 

(8,744

)

 

 

(8,852

)

Loans receivable, net

 

$

1,207,304

 

 

$

1,084,681

 
Internal Risk Ratings and Payment Activity

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

24,130

 

 

$

11,476

 

 

$

10,818

 

 

$

4,796

 

 

$

2,513

 

 

$

8,138

 

 

$

86,094

 

 

$

147,965

 

Special mention

 

 

—

 

 

 

392

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,557

 

 

 

2,949

 

Substandard

 

 

—

 

 

 

555

 

 

 

—

 

 

 

113

 

 

 

84

 

 

 

676

 

 

 

845

 

 

 

2,273

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial and industrial

 

$

24,130

 

 

$

12,423

 

 

$

10,818

 

 

$

4,909

 

 

$

2,597

 

 

$

8,814

 

 

$

89,496

 

 

$

153,187

 

Construction and land development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

53,278

 

 

$

33,332

 

 

$

11,404

 

 

$

13,998

 

 

$

3,268

 

 

$

8,056

 

 

$

—

 

 

$

123,336

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

6,094

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

34

 

 

 

—

 

 

 

6,128

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction and land development

 

$

53,278

 

 

$

39,426

 

 

$

11,404

 

 

$

13,998

 

 

$

3,268

 

 

$

8,090

 

 

$

—

 

 

$

129,464

 

Real estate secured by multi-family properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

26,080

 

 

$

17,395

 

 

$

27,638

 

 

$

22,402

 

 

$

9,210

 

 

$

31,488

 

 

$

—

 

 

$

134,213

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

471

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,777

 

 

 

—

 

 

 

3,248

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by multi-family properties

 

$

26,080

 

 

$

17,866

 

 

$

27,638

 

 

$

22,402

 

 

$

9,210

 

 

$

34,265

 

 

$

—

 

 

$

137,461

 

Real estate secured by owner-occupied properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

14,110

 

 

$

14,121

 

 

$

25,747

 

 

$

23,080

 

 

$

14,890

 

 

$

53,062

 

 

$

—

 

 

$

145,010

 

Special mention

 

 

656

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

869

 

 

 

—

 

 

 

1,525

 

Substandard

 

 

745

 

 

 

7,027

 

 

 

1,665

 

 

 

—

 

 

 

2,131

 

 

 

5,852

 

 

 

—

 

 

 

17,420

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by owner-occupied properties

 

$

15,511

 

 

$

21,148

 

 

$

27,412

 

 

$

23,080

 

 

$

17,021

 

 

$

59,783

 

 

$

—

 

 

$

163,955

 

Real estate secured by other commercial properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

42,414

 

 

$

30,132

 

 

$

67,747

 

 

$

40,771

 

 

$

13,624

 

 

$

115,015

 

 

$

—

 

 

$

309,703

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

663

 

 

 

—

 

 

 

—

 

 

 

2,298

 

 

 

726

 

 

 

—

 

 

 

3,687

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by other commercial properties

 

$

42,414

 

 

$

30,795

 

 

$

67,747

 

 

$

40,771

 

 

$

15,922

 

 

$

115,741

 

 

$

—

 

 

$

313,390

 

Revolving real estate secured by 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,652

 

 

$

5,652

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total revolving real estate secured by 1-4 family properties-business

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,652

 

 

$

5,652

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate secured by 1st lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

9,890

 

 

$

16,641

 

 

$

26,410

 

 

$

18,786

 

 

$

8,349

 

 

$

24,375

 

 

$

—

 

 

$

104,451

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

Substandard

 

 

—

 

 

 

—

 

 

 

339

 

 

 

205

 

 

 

145

 

 

 

507

 

 

 

—

 

 

 

1,196

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by 1st lien on 1-4 family properties-business

 

$

9,890

 

 

$

16,641

 

 

$

26,749

 

 

$

19,123

 

 

$

8,494

 

 

$

24,882

 

 

$

—

 

 

$

105,779

 

Real estate secured by junior lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

213

 

 

$

533

 

 

$

574

 

 

$

176

 

 

$

538

 

 

$

855

 

 

$

—

 

 

$

2,889

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

330

 

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

349

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

543

 

 

$

533

 

 

$

593

 

 

$

176

 

 

$

538

 

 

$

855

 

 

$

—

 

 

$

3,238

 

State and political subdivisions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

1,914

 

 

$

1,141

 

 

$

—

 

 

$

3,749

 

 

$

8

 

 

$

10,871

 

 

$

—

 

 

$

17,683

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

1,914

 

 

$

1,141

 

 

$

—

 

 

$

3,749

 

 

$

8

 

 

$

10,871

 

 

$

—

 

 

$

17,683

 

Total Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

172,029

 

 

$

124,771

 

 

$

170,338

 

 

$

127,758

 

 

$

52,400

 

 

$

251,860

 

 

$

91,746

 

 

$

990,902

 

Special mention

 

 

656

 

 

 

392

 

 

 

—

 

 

 

132

 

 

 

—

 

 

 

869

 

 

 

2,557

 

 

 

4,606

 

Substandard

 

 

1,075

 

 

 

14,810

 

 

 

2,023

 

 

 

318

 

 

 

4,658

 

 

 

10,572

 

 

 

845

 

 

 

34,301

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial loans

 

$

173,760

 

 

$

139,973

 

 

$

172,361

 

 

$

128,208

 

 

$

57,058

 

 

$

263,301

 

 

$

95,148

 

 

$

1,029,809

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

23

 

 

$

23

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

20,473

 

 

$

14,439

 

 

$

8,574

 

 

$

5,913

 

 

$

8,626

 

 

$

7,175

 

 

$

70,716

 

 

$

135,916

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,170

 

 

 

1,170

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial and industrial

 

$

20,473

 

 

$

14,439

 

 

$

8,574

 

 

$

5,913

 

 

$

8,626

 

 

$

7,175

 

 

$

71,886

 

 

$

137,086

 

Construction and land development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

46,171

 

 

$

43,472

 

 

$

14,630

 

 

$

3,434

 

 

$

4,028

 

 

$

4,395

 

 

$

—

 

 

$

116,130

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

43

 

 

 

—

 

 

 

43

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction and land development

 

$

46,171

 

 

$

43,472

 

 

$

14,630

 

 

$

3,434

 

 

$

4,028

 

 

$

4,438

 

 

$

—

 

 

$

116,173

 

Real estate secured by multi-family properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

10,826

 

 

$

28,858

 

 

$

23,430

 

 

$

9,808

 

 

$

5,804

 

 

$

27,609

 

 

$

—

 

 

$

106,335

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

704

 

 

 

2,154

 

 

 

—

 

 

 

2,858

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by multi-family properties

 

$

10,826

 

 

$

28,858

 

 

$

23,430

 

 

$

9,808

 

 

$

6,508

 

 

$

29,763

 

 

$

—

 

 

$

109,193

 

Real estate secured by owner-occupied properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

14,430

 

 

$

29,576

 

 

$

26,908

 

 

$

18,693

 

 

$

12,239

 

 

$

53,030

 

 

$

—

 

 

$

154,876

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

 

 

 

—

 

 

 

—

 

 

 

5,819

 

 

 

—

 

 

 

5,819

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by owner-occupied properties

 

$

14,430

 

 

$

29,576

 

 

$

26,908

 

 

$

18,693

 

 

$

12,239

 

 

$

58,849

 

 

$

—

 

 

$

160,695

 

Real estate secured by other commercial properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

32,297

 

 

$

44,526

 

 

$

42,582

 

 

$

17,798

 

 

$

28,947

 

 

$

98,173

 

 

$

—

 

 

$

264,323

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

778

 

 

 

—

 

 

 

778

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by other commercial properties

 

$

32,297

 

 

$

44,526

 

 

$

42,582

 

 

$

17,798

 

 

$

28,947

 

 

$

98,951

 

 

$

—

 

 

$

265,101

 

Revolving real estate secured by 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,442

 

 

$

5,442

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total revolving real estate secured by 1-4 family properties-business

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,442

 

 

$

5,442

 

Real estate secured by 1st lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

14,697

 

 

$

28,596

 

 

$

20,890

 

 

$

9,794

 

 

$

8,441

 

 

$

20,262

 

 

$

—

 

 

$

102,680

 

Special mention

 

 

—

 

 

 

—

 

 

 

137

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

137

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Substandard

 

 

—

 

 

 

189

 

 

 

—

 

 

 

—

 

 

 

423

 

 

 

143

 

 

 

—

 

 

 

755

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by 1st lien on 1-4 family properties-business

 

$

14,697

 

 

$

28,785

 

 

$

21,027

 

 

$

9,794

 

 

$

8,864

 

 

$

20,405

 

 

$

—

 

 

$

103,572

 

Real estate secured by junior lien on 1-4 family properties-business:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

558

 

 

$

604

 

 

$

542

 

 

$

580

 

 

$

40

 

 

$

934

 

 

$

—

 

 

$

3,258

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

187

 

 

 

—

 

 

 

187

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

558

 

 

$

604

 

 

$

542

 

 

$

580

 

 

$

40

 

 

$

1,121

 

 

$

—

 

 

$

3,445

 

State and political subdivisions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

707

 

 

$

—

 

 

$

4,247

 

 

$

18

 

 

$

5,444

 

 

$

8,292

 

 

$

—

 

 

$

18,708

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by junior lien on 1-4 family properties-business

 

$

707

 

 

$

—

 

 

$

4,247

 

 

$

18

 

 

$

5,444

 

 

$

8,292

 

 

$

—

 

 

$

18,708

 

Total Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

140,159

 

 

$

190,071

 

 

$

141,803

 

 

$

66,038

 

 

$

73,569

 

 

$

219,870

 

 

$

76,158

 

 

$

907,668

 

Special mention

 

 

—

 

 

 

—

 

 

 

137

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

137

 

Substandard

 

 

—

 

 

 

189

 

 

 

—

 

 

 

—

 

 

 

1,127

 

 

 

9,124

 

 

 

1,170

 

 

 

11,610

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial loans

 

$

140,159

 

 

$

190,260

 

 

$

141,940

 

 

$

66,038

 

 

$

74,696

 

 

$

228,994

 

 

$

77,328

 

 

$

919,415

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

229

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

84

 

 

$

313

 

 

 

The following tables present the recorded investment in the retail classes of the loan portfolio based on payment activity as of December 31, 2024 and 2023:

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

12,129

 

 

$

12,404

 

 

$

13,901

 

 

$

28,707

 

 

$

18,871

 

 

$

27,643

 

 

$

—

 

 

$

113,655

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

768

 

 

 

—

 

 

 

768

 

Total 1-4 family residential mortgages

 

$

12,129

 

 

$

12,404

 

 

$

13,901

 

 

$

28,707

 

 

$

18,871

 

 

$

28,411

 

 

$

—

 

 

$

114,423

 

Revolving home equity secured by 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

47,918

 

 

$

47,918

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

313

 

 

 

313

 

Total revolving home equity secured by 1-4 family properties-personal

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

48,231

 

 

$

48,231

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate secured by 1st lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

599

 

 

$

721

 

 

$

968

 

 

$

1,027

 

 

$

813

 

 

$

2,315

 

 

$

—

 

 

$

6,443

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

90

 

 

 

—

 

 

 

—

 

 

 

28

 

 

 

—

 

 

 

118

 

Total real estate secured by 1st lien on 1-4 family properties-personal

 

$

599

 

 

$

721

 

 

$

1,058

 

 

$

1,027

 

 

$

813

 

 

$

2,343

 

 

$

—

 

 

$

6,561

 

Real estate secured by junior lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

5,241

 

 

$

3,317

 

 

$

833

 

 

$

958

 

 

$

922

 

 

$

2,804

 

 

$

—

 

 

$

14,075

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

Total real estate secured by junior lien on 1-4 family properties-personal

 

$

5,241

 

 

$

3,317

 

 

$

850

 

 

$

958

 

 

$

922

 

 

$

2,804

 

 

$

—

 

 

$

14,092

 

Student loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,433

 

 

$

—

 

 

$

1,433

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11

 

 

 

—

 

 

 

11

 

Total student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,444

 

 

$

—

 

 

$

1,444

 

Overdrafts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

209

 

 

$

209

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total overdrafts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

209

 

 

$

209

 

Other consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

785

 

 

$

487

 

 

$

127

 

 

$

104

 

 

$

16

 

 

$

32

 

 

$

202

 

 

$

1,753

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

29

 

 

 

—

 

 

 

29

 

Total other consumer

 

$

785

 

 

$

487

 

 

$

127

 

 

$

104

 

 

$

16

 

 

$

61

 

 

$

202

 

 

$

1,782

 

Total Retail Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

18,754

 

 

$

16,929

 

 

$

15,829

 

 

$

30,796

 

 

$

20,622

 

 

$

34,227

 

 

$

48,329

 

 

$

185,486

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

107

 

 

 

—

 

 

 

—

 

 

 

836

 

 

 

313

 

 

 

1,256

 

Total Retail Loans

 

$

18,754

 

 

$

16,929

 

 

$

15,936

 

 

$

30,796

 

 

$

20,622

 

 

$

35,063

 

 

$

48,642

 

 

$

186,742

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

52

 

 

$

—

 

 

$

52

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

101

 

 

 

101

 

Other consumer

 

 

—

 

 

 

4

 

 

 

8

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

7

 

 

 

23

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

12,641

 

 

$

14,635

 

 

$

30,495

 

 

$

20,304

 

 

$

4,526

 

 

$

25,500

 

 

$

—

 

 

$

108,101

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

805

 

 

 

—

 

 

 

805

 

Total 1-4 family residential mortgages

 

$

12,641

 

 

$

14,635

 

 

$

30,495

 

 

$

20,304

 

 

$

4,526

 

 

$

26,305

 

 

$

—

 

 

$

108,906

 

Revolving home equity secured by 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

33,936

 

 

$

33,936

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

295

 

 

 

295

 

Total revolving home equity secured by 1-4 family properties-personal

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

34,231

 

 

$

34,231

 

Real estate secured by 1st lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

2,591

 

 

$

1,613

 

 

$

2,933

 

 

$

1,030

 

 

$

931

 

 

$

2,767

 

 

$

—

 

 

$

11,865

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

116

 

 

 

—

 

 

 

116

 

Total real estate secured by 1st lien on 1-4 family properties-personal

 

$

2,591

 

 

$

1,613

 

 

$

2,933

 

 

$

1,030

 

 

$

931

 

 

$

2,883

 

 

$

—

 

 

$

11,981

 

Real estate secured by junior lien on 1-4 family properties-personal:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

6,438

 

 

$

1,613

 

 

$

2,184

 

 

$

1,180

 

 

$

676

 

 

$

3,515

 

 

$

—

 

 

$

15,606

 

Nonperforming

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19

 

Total real estate secured by junior lien on 1-4 family properties-personal

 

$

6,438

 

 

$

1,632

 

 

$

2,184

 

 

$

1,180

 

 

$

676

 

 

$

3,515

 

 

$

—

 

 

$

15,625

 

Student loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,645

 

 

$

—

 

 

$

1,645

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Total student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,662

 

 

$

—

 

 

$

1,662

 

Overdrafts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

194

 

 

$

194

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total overdrafts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

194

 

 

$

194

 

Other consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

793

 

 

$

290

 

 

$

245

 

 

$

89

 

 

$

73

 

 

$

41

 

 

$

189

 

 

$

1,720

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

37

 

 

 

—

 

 

 

37

 

Total other consumer

 

$

793

 

 

$

290

 

 

$

245

 

 

$

89

 

 

$

73

 

 

$

78

 

 

$

189

 

 

$

1,757

 

Total Retail Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

22,463

 

 

$

18,151

 

 

$

35,857

 

 

$

22,603

 

 

$

6,206

 

 

$

33,468

 

 

$

34,319

 

 

$

173,067

 

Nonperforming

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

975

 

 

 

295

 

 

 

1,289

 

Total Retail Loans

 

$

22,463

 

 

$

18,170

 

 

$

35,857

 

 

$

22,603

 

 

$

6,206

 

 

$

34,443

 

 

$

34,614

 

 

$

174,356

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

57

 

 

$

—

 

 

$

57

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91

 

 

 

91

 

Other consumer

 

 

—

 

 

 

1

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

14

 
Past Due Loans The following table presents the classes of the loan portfolio (excluding deferred fees and costs) summarized by the past due status, regardless of whether the loan is on non-accrual status, as of December 31, 2024 and 2023:

 

December 31, 2024

 

30-59 days
past due

 

 

60-89 days
past due

 

 

90 days or
more past
due

 

 

Total past
due loans

 

 

Current

 

 

Total loans
receivable

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

153,187

 

 

$

153,187

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

129,464

 

 

 

129,464

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

137,461

 

 

 

137,461

 

Real estate secured by owner-occupied properties

 

 

150

 

 

 

169

 

 

 

—

 

 

 

319

 

 

 

163,636

 

 

 

163,955

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

313,390

 

 

 

313,390

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,652

 

 

 

5,652

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

105,779

 

 

 

105,779

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,238

 

 

 

3,238

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17,683

 

 

 

17,683

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

114

 

 

 

440

 

 

 

571

 

 

 

1,125

 

 

 

113,298

 

 

 

114,423

 

Revolving home equity secured by 1-4 family properties-personal

 

 

235

 

 

 

42

 

 

 

119

 

 

 

396

 

 

 

47,835

 

 

 

48,231

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

126

 

 

 

—

 

 

 

91

 

 

 

217

 

 

 

6,344

 

 

 

6,561

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

95

 

 

 

—

 

 

 

17

 

 

 

112

 

 

 

13,980

 

 

 

14,092

 

Student loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,444

 

 

 

1,444

 

Overdrafts

 

 

13

 

 

 

—

 

 

 

—

 

 

 

13

 

 

 

196

 

 

 

209

 

Other consumer

 

 

5

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

1,777

 

 

 

1,782

 

Total

 

$

738

 

 

$

651

 

 

$

798

 

 

$

2,187

 

 

$

1,214,364

 

 

$

1,216,551

 

 

 

December 31, 2023

 

30-59 days
past due

 

 

60-89 days
past due

 

 

90 days or
more past
due

 

 

Total past
due loans

 

 

Current

 

 

Total loans
receivable

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

77

 

 

$

—

 

 

$

—

 

 

$

77

 

 

$

137,009

 

 

$

137,086

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

116,173

 

 

 

116,173

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

109,193

 

 

 

109,193

 

Real estate secured by owner-occupied properties

 

 

186

 

 

 

—

 

 

 

—

 

 

 

186

 

 

 

160,509

 

 

 

160,695

 

Real estate secured by other commercial properties

 

 

9,675

 

 

 

—

 

 

 

—

 

 

 

9,675

 

 

 

255,426

 

 

 

265,101

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,442

 

 

 

5,442

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

323

 

 

 

—

 

 

 

—

 

 

 

323

 

 

 

103,249

 

 

 

103,572

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,445

 

 

 

3,445

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18,708

 

 

 

18,708

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

433

 

 

 

381

 

 

 

481

 

 

 

1,295

 

 

 

107,611

 

 

 

108,906

 

Revolving home equity secured by 1-4 family properties-personal

 

 

56

 

 

 

—

 

 

 

129

 

 

 

185

 

 

 

34,046

 

 

 

34,231

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

—

 

 

 

96

 

 

 

—

 

 

 

96

 

 

 

11,885

 

 

 

11,981

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

—

 

 

 

—

 

 

 

18

 

 

 

18

 

 

 

15,607

 

 

 

15,625

 

Student loans

 

 

—

 

 

 

11

 

 

 

6

 

 

 

17

 

 

 

1,645

 

 

 

1,662

 

Overdrafts

 

 

21

 

 

 

2

 

 

 

—

 

 

 

23

 

 

 

171

 

 

 

194

 

Other consumer

 

 

—

 

 

 

8

 

 

 

—

 

 

 

8

 

 

 

1,749

 

 

 

1,757

 

Total

 

$

10,771

 

 

$

498

 

 

$

634

 

 

$

11,903

 

 

$

1,081,868

 

 

$

1,093,771

 
Non-accrual Loans

The following tables disclose the recorded investment in loans receivable that are either on non-accrual status or past due 90 days or more and still accruing interest as of December 31, 2024 and 2023:

 

December 31, 2024

 

90 Days or More Past Due-Still Accruing

 

 

Nonaccrual With No Specifically-Related ACL

 

 

Nonaccrual With Related ACL

 

 

Total Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

27

 

 

$

27

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

—

 

 

 

157

 

 

 

—

 

 

 

157

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

205

 

 

 

—

 

 

 

205

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

330

 

 

 

330

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

768

 

 

 

—

 

 

 

768

 

Revolving home equity secured by 1-4 family properties-personal

 

 

—

 

 

 

313

 

 

 

—

 

 

 

313

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

—

 

 

 

118

 

 

 

—

 

 

 

118

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Student loans

 

 

—

 

 

 

11

 

 

 

—

 

 

 

11

 

Other consumer

 

 

—

 

 

 

29

 

 

 

—

 

 

 

29

 

Total

 

$

—

 

 

$

1,618

 

 

$

357

 

 

$

1,975

 

 

 

December 31, 2023

 

90 Days or More Past Due-Still Accruing

 

 

Nonaccrual With No Specifically-Related ACL

 

 

Nonaccrual With Related ACL

 

 

Total Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

278

 

 

$

33

 

 

$

311

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

—

 

 

 

175

 

 

 

—

 

 

 

175

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

165

 

 

 

165

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

805

 

 

 

—

 

 

 

805

 

Revolving home equity secured by 1-4 family properties-personal

 

 

—

 

 

 

21

 

 

 

274

 

 

 

295

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

—

 

 

 

116

 

 

 

—

 

 

 

116

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

—

 

 

 

19

 

 

 

—

 

 

 

19

 

Student loans

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Other consumer

 

 

—

 

 

 

37

 

 

 

—

 

 

 

37

 

Total

 

$

—

 

 

$

1,468

 

 

$

472

 

 

$

1,940

 
Collateral-dependent Loans By Loan Category

The following table presents the collateral-dependent loans by loan category at December 31, 2024 and 2023:
 

December 31, 2024

 

Real Estate Secured

 

 

Other (1)

 

 

Deficiency in Collateral

 

 

Total Collateral Dependent Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

27

 

 

$

27

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

157

 

 

 

—

 

 

 

—

 

 

 

157

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

205

 

 

 

—

 

 

 

—

 

 

 

205

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

330

 

 

 

330

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

768

 

 

 

—

 

 

 

—

 

 

 

768

 

Revolving home equity secured by 1-4 family properties-personal

 

 

313

 

 

 

—

 

 

 

—

 

 

 

313

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

118

 

 

 

—

 

 

 

—

 

 

 

118

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

17

 

 

 

—

 

 

 

—

 

 

 

17

 

Other consumer

 

 

—

 

 

 

29

 

 

 

—

 

 

 

29

 

Total

 

$

1,578

 

 

$

29

 

 

$

357

 

 

$

1,964

 

(1) Secured by business assets, personal property and equipment or guarantees
 

 

December 31, 2023

 

Real Estate Secured

 

 

Other (1)

 

 

Deficiency in Collateral

 

 

Total Collateral Dependent Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

278

 

 

$

33

 

 

$

311

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

175

 

 

 

—

 

 

 

—

 

 

 

175

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Revolving real estate secured by 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

—

 

 

 

 

 

 

 

 

 

—

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

—

 

 

 

—

 

 

 

165

 

 

 

165

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

805

 

 

 

—

 

 

 

—

 

 

 

805

 

Revolving home equity secured by 1-4 family properties-personal

 

 

185

 

 

 

—

 

 

 

110

 

 

 

295

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

116

 

 

 

—

 

 

 

—

 

 

 

116

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

19

 

 

 

—

 

 

 

—

 

 

 

19

 

Other consumer

 

 

—

 

 

 

37

 

 

 

—

 

 

 

37

 

Total

 

$

1,300

 

 

$

315

 

 

$

308

 

 

$

1,923

 
(1) Secured by business assets, personal property and equipment or guarantees
Allowance for Credit Losses on Loans

Activity in the allowance for credit losses on loans for the years ended December 31, 2024, 2023 and 2022 are as follows:

 

Year ended December 31, 2024

 

Beginning balance

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

823

 

 

$

(23

)

 

$

(23

)

 

$

52

 

 

$

829

 

Construction and land development

 

 

1,252

 

 

 

84

 

 

 

—

 

 

 

—

 

 

 

1,336

 

Real estate secured by multi-family properties

 

 

1,735

 

 

 

277

 

 

 

—

 

 

 

—

 

 

 

2,012

 

Real estate secured by owner-occupied properties

 

 

1,001

 

 

 

(148

)

 

 

—

 

 

 

—

 

 

 

853

 

Real estate secured by other commercial properties

 

 

1,167

 

 

 

(25

)

 

 

—

 

 

 

—

 

 

 

1,142

 

Revolving real estate secured by 1-4 family properties-business

 

 

27

 

 

 

(3

)

 

 

—

 

 

 

—

 

 

 

24

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

1,507

 

 

 

(279

)

 

 

—

 

 

 

10

 

 

 

1,238

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

14

 

 

 

325

 

 

 

—

 

 

 

—

 

 

 

339

 

State and political subdivisions

 

 

55

 

 

 

(21

)

 

 

—

 

 

 

—

 

 

 

34

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

427

 

 

 

(108

)

 

 

—

 

 

 

4

 

 

 

323

 

Revolving home equity secured by 1-4 family properties-personal

 

 

138

 

 

 

5

 

 

 

—

 

 

 

—

 

 

 

143

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

182

 

 

 

(151

)

 

 

—

 

 

 

—

 

 

 

31

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

105

 

 

 

(28

)

 

 

—

 

 

 

—

 

 

 

77

 

Student loans

 

 

369

 

 

 

(37

)

 

 

(52

)

 

 

30

 

 

 

310

 

Overdrafts

 

 

16

 

 

 

69

 

 

 

(101

)

 

 

34

 

 

 

18

 

Other consumer

 

 

34

 

 

 

14

 

 

 

(23

)

 

 

10

 

 

 

35

 

Total

 

$

8,852

 

 

$

(49

)

 

$

(199

)

 

$

140

 

 

$

8,744

 

 

Year ended December 31, 2023

 

Beginning balance prior to adoption of ASC 326

 

 

Impact of adopting ASC 326

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

1,316

 

 

$

(70

)

 

$

(771

)

 

$

(313

)

 

$

661

 

 

$

823

 

Construction and land development

 

 

755

 

 

 

(10

)

 

 

507

 

 

 

—

 

 

 

—

 

 

 

1,252

 

Real estate secured by multi-family properties

 

 

995

 

 

 

684

 

 

 

56

 

 

 

—

 

 

 

—

 

 

 

1,735

 

Real estate secured by owner-occupied properties

 

 

1,549

 

 

 

(374

)

 

 

(174

)

 

 

—

 

 

 

—

 

 

 

1,001

 

Real estate secured by other commercial properties

 

 

2,458

 

 

 

(1,128

)

 

 

(163

)

 

 

—

 

 

 

—

 

 

 

1,167

 

Revolving real estate secured by 1-4 family properties-business

 

 

25

 

 

 

7

 

 

 

(5

)

 

 

—

 

 

 

—

 

 

 

27

 

Real estate secured by 1st lien on 1-4 family properties-business

 

 

1,210

 

 

 

490

 

 

 

(203

)

 

 

—

 

 

 

10

 

 

 

1,507

 

Real estate secured by junior lien on 1-4 family properties-business

 

 

30

 

 

 

(14

)

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

14

 

State and political subdivisions

 

 

94

 

 

 

(20

)

 

 

(19

)

 

 

—

 

 

 

—

 

 

 

55

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

682

 

 

 

(196

)

 

 

(59

)

 

 

—

 

 

 

—

 

 

 

427

 

Construction-individual

 

 

1

 

 

 

-

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

Revolving home equity secured by 1-4 family properties-personal

 

 

299

 

 

 

(7

)

 

 

(154

)

 

 

—

 

 

 

—

 

 

 

138

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

 

57

 

 

 

15

 

 

 

110

 

 

 

—

 

 

 

—

 

 

 

182

 

Real estate secured by junior lien on 1-4 family properties-personal

 

 

55

 

 

 

29

 

 

 

15

 

 

 

—

 

 

 

6

 

 

 

105

 

Student loans

 

 

454

 

 

 

12

 

 

 

(48

)

 

 

(57

)

 

 

8

 

 

 

369

 

Overdrafts

 

 

8

 

 

 

3

 

 

 

70

 

 

 

(91

)

 

 

26

 

 

 

16

 

Other consumer

 

 

41

 

 

 

(8

)

 

 

13

 

 

 

(14

)

 

 

2

 

 

 

34

 

Unallocated

 

 

502

 

 

 

(502

)

 

 

—

 

 

N/A

 

 

N/A

 

 

 

—

 

Total

 

$

10,531

 

 

$

(1,089

)

 

$

(828

)

 

$

(475

)

 

$

713

 

 

$

8,852

 

 

 

Year ended December 31, 2022

 

Balance,
beginning of
period

 

 

Provision for
(credit to)
loan losses

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

3,368

 

 

$

(2,320

)

 

$

(38

)

 

$

306

 

 

$

1,316

 

Construction

 

 

363

 

 

 

392

 

 

 

—

 

 

 

—

 

 

 

755

 

Secured by commercial real estate

 

 

4,280

 

 

 

722

 

 

 

—

 

 

 

—

 

 

 

5,002

 

Secured by residential real estate

 

 

1,035

 

 

 

160

 

 

 

—

 

 

 

45

 

 

 

1,240

 

State and political subdivisions

 

 

69

 

 

 

25

 

 

 

—

 

 

 

—

 

 

 

94

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

646

 

 

 

37

 

 

 

—

 

 

 

—

 

 

 

683

 

Home equity loans and lines

 

 

376

 

 

 

55

 

 

 

—

 

 

 

6

 

 

 

437

 

Consumer

 

 

542

 

 

 

82

 

 

 

(158

)

 

 

36

 

 

 

502

 

Unallocated

 

 

505

 

 

 

(3

)

 

N/A

 

 

N/A

 

 

 

502

 

Total

 

$

11,184

 

 

$

(850

)

 

$

(196

)

 

$

393

 

 

$

10,531

 
v3.25.1
Note 6 - Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Premises and Equipment

Premises and equipment, stated at cost less accumulated depreciation and amortization, are summarized below:

 

December 31,

 

2024

 

 

2023

 

Land and buildings

 

$

18,333

 

 

$

16,102

 

Furniture and equipment

 

 

15,429

 

 

 

14,470

 

Leasehold improvements

 

 

3,637

 

 

 

3,632

 

Right-of-use asset

 

 

2,618

 

 

 

2,722

 

Book value

 

 

40,017

 

 

 

36,926

 

Accumulated depreciation and amortization

 

 

(22,762

)

 

 

(21,974

)

Net book value

 

$

17,255

 

 

$

14,952

 
Summary of Quantitative Attributes of Operating Leases

The following table summarized the quantitative attributes of QNB’s operating leases:

 

Year ended December 31,

 

2024

 

 

2023

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

631

 

 

$

618

 

Total lease cost

 

 

631

 

 

 

618

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Cashflows from operating leases

 

$

633

 

 

$

626

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

457

 

 

$

369

 

 

 

 

 

 

 

 

Weighted average remaining lease terms:

 

 

 

 

 

 

Operating leases

 

12.1 years

 

 

13.1 years

 

Weighted average discount rates:

 

 

 

 

 

 

Operating leases

 

 

3.09

%

 

 

2.90

%
v3.25.1
Note 7 - Intangible Assets and Loan Servicing (Tables)
 12 Months Ended
Dec. 31, 2024
Transfers and Servicing of Financial Assets [Abstract]  
Activity of Mortgage Servicing Rights

The following table reflects the activity of mortgage servicing rights for the periods indicated:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Balance at beginning of year

 

$

415

 

 

$

469

 

 

$

538

 

Mortgage servicing rights capitalized

 

 

13

 

 

 

7

 

 

 

2

 

Mortgage servicing rights amortized

 

 

(50

)

 

 

(61

)

 

 

(80

)

Fair market value adjustments

 

 

—

 

 

 

—

 

 

 

9

 

Balance at end of year

 

$

378

 

 

$

415

 

 

$

469

 
Annual Estimated Amortization Expense of Intangible Assets

The annual estimated amortization expense of intangible assets for each of the five succeeding fiscal years is as follows:

 

2025

 

$

56

 

2026

 

 

49

 

2027

 

 

43

 

2028

 

 

37

 

2029

 

 

33

 
v3.25.1
Note 8 - Time Deposits (Tables)
 12 Months Ended
Dec. 31, 2024
Time Deposit [Abstract]  
Schedule of Maturities of Time Deposits

At December 31, 2024, the scheduled maturities of time deposits were as follows:

 

2025

 

$

350,836

 

2026

 

 

19,034

 

2027

 

 

7,826

 

2028

 

 

2,402

 

2029

 

 

1,360

 

Thereafter

 

 

—

 

Total time deposits

 

$

381,458

 
v3.25.1
Note 9 - Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings

December 31,

 

Securities sold
under agreements
to repurchase (a)

 

 

Other short - term
 borrowings (b)

 

2024

 

 

 

 

 

 

Balance

 

$

18,636

 

 

$

35,208

 

Maximum indebtedness at any month end

 

 

55,088

 

 

 

50,000

 

Daily average indebtedness outstanding

 

 

38,455

 

 

 

10,071

 

Average rate paid for the year

 

 

1.83

%

 

 

4.41

%

Average rate on period-end borrowings

 

 

2.46

 

 

 

4.81

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

Balance

 

$

44,094

 

 

$

50,000

 

Maximum indebtedness at any month end

 

 

69,343

 

 

 

136,799

 

Daily average indebtedness outstanding

 

 

53,154

 

 

 

55,708

 

Average rate paid for the year

 

 

1.39

%

 

 

4.55

%

Average rate on period-end borrowings

 

 

4.59

 

 

 

4.39

 

 

(a)
Securities sold under agreements to repurchase mature overnight. The repurchase agreements were collateralized by U.S. Government mortgage-backed securities and CMOs with an amortized cost of $30,729,000 and $72,012,000 and a fair value of $26,501,000 and $61,650,000 and at December 31, 2024 and 2023 respectively. These securities are held in safekeeping at the Federal Reserve Bank of Boston.
(b)
Other short-term borrowings include Federal funds purchased, overnight and short term borrowings from the FHLB, and short-term FRB borrowings.
v3.25.1
Note 10 - Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long-term Advances at FHLB Mature

Long-term advances at the FHLB mature as follows:

 

As of December 31, 2024

 

Balance Maturing

 

 

Weighted-Average Rate

 

2025

 

$

30,000

 

 

 

4.75

%

2026

 

 

—

 

 

 

—

 

2027

 

 

—

 

 

 

—

 

2028

 

 

—

 

 

 

—

 

2029

 

 

—

 

 

 

—

 

Thereafter

 

 

—

 

 

 

—

 

Total long-term debt

 

$

30,000

 

 

 

4.75

%
v3.25.1
Note 12 - Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes are as follows:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Current Federal income taxes

 

$

2,739

 

 

$

2,109

 

 

$

3,543

 

Current state income taxes

 

 

80

 

 

 

83

 

 

 

180

 

Deferred Federal income taxes (benefits)

 

 

93

 

 

 

71

 

 

 

36

 

Deferred state income taxes (benefits)

 

 

(169

)

 

 

(15

)

 

 

(102

)

Valuation adjustment

 

 

168

 

 

 

(4

)

 

 

8

 

Net provision

 

$

2,911

 

 

$

2,244

 

 

$

3,665

 
Schedule of Deferred Tax Assets and Liabilities

December 31,

 

2024

 

 

2023

 

Deferred tax assets

 

 

 

 

 

 

Allowance for credit losses on loans

 

$

1,882

 

 

$

1,859

 

Net unrealized holding losses on investment
   securities available-for-sale

 

 

18,226

 

 

 

17,692

 

Net unrealized holding losses on investment
   rate swaps

 

 

—

 

 

 

367

 

Non-accrual interest income

 

 

200

 

 

 

170

 

Leasing liability

 

 

630

 

 

 

637

 

Deferred revenue

 

 

113

 

 

 

—

 

Incurred but not reported medical expense

 

 

34

 

 

 

27

 

Bonus

 

 

192

 

 

 

88

 

State net operating loss carryforward

 

 

171

 

 

 

30

 

Other

 

 

106

 

 

 

61

 

Total deferred tax assets

 

 

21,554

 

 

 

20,931

 

Deferred tax liabilities

 

 

 

 

 

 

Deferred loan income

 

 

531

 

 

 

487

 

Depreciation

 

 

286

 

 

 

215

 

Mortgage servicing rights

 

 

81

 

 

 

87

 

Net unrealized holding losses on investment
   rate swaps

 

 

1,040

 

 

 

—

 

Fair value remeasurements on interest rate swap

 

 

22

 

 

 

12

 

Fair value adjustment on equity securities

 

 

—

 

 

 

61

 

Prepaid expenses

 

 

262

 

 

 

203

 

Right of use asset

 

 

564

 

 

 

572

 

Subordinated debt costs

 

 

263

 

 

 

—

 

Other

 

 

8

 

 

 

—

 

Total deferred tax liabilities

 

 

3,057

 

 

 

1,637

 

Valuation allowance

 

 

172

 

 

 

4

 

Net deferred tax asset

 

$

18,325

 

 

$

19,290

 
Schedule of Effective Income Tax Rate Reconciliation

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

 

 

Dollar

 

 

%

 

 

Dollar

 

 

%

 

 

Dollar

 

 

%

 

Provision at statutory rate

 

$

3,015

 

 

 

21.0

%

 

$

2,463

 

 

 

21.0

%

 

$

4,113

 

 

 

21.0

%

Tax-exempt interest and dividend income

 

 

(194

)

 

 

(1.4

)

 

 

(267

)

 

 

(2.3

)

 

 

(504

)

 

 

(2.6

)

Bank-owned life insurance

 

 

(68

)

 

 

(0.5

)

 

 

(67

)

 

 

(0.6

)

 

 

(75

)

 

 

(0.4

)

Stock-based compensation expense

 

 

27

 

 

 

0.2

 

 

 

26

 

 

 

0.2

 

 

 

20

 

 

 

0.1

 

State income tax

 

 

(47

)

 

 

(0.3

)

 

 

53

 

 

 

0.5

 

 

 

62

 

 

 

0.3

 

Other

 

 

10

 

 

 

0.1

 

 

 

40

 

 

 

0.4

 

 

 

41

 

 

 

0.2

 

Income tax provision

 

 

2,743

 

 

 

19.1

 

 

 

2,248

 

 

 

19.2

 

 

 

3,657

 

 

 

18.7

 

Valuation Adjustment

 

 

168

 

 

 

1.2

 

 

 

(4

)

 

 

(0.1

)

 

 

8

 

 

 

0.0

 

 

 

$

2,911

 

 

 

20.3

%

 

$

2,244

 

 

 

19.1

%

 

$

3,665

 

 

 

18.7

%
v3.25.1
Note 13 - Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Compensation Related Costs [Abstract]  
Schedule of Shares Issued

Shares issued pursuant to the Plan were as follows:

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Shares

 

 

7,339

 

 

 

6,630

 

 

 

5,102

 

Price per share

 

$22.00 and $23.20

 

 

$23.10

 

 

$29.48 and $24.21

 
v3.25.1
Note 14 - Stock Option Plan and Non-Employee Director Compensation Plan (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity

Stock option activity during 2024, 2023, and 2022 was as follows:

 

 

 

Number
of options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual
term
(in years)

 

 

Aggregate
intrinsic
value

 

Outstanding at December 31, 2021

 

 

113,950

 

 

$

37.58

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(34,150

)

 

 

37.07

 

 

 

 

 

 

 

Granted

 

 

29,350

 

 

 

37.26

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

109,150

 

 

 

37.65

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(22,600

)

 

 

43.15

 

 

 

 

 

 

 

Granted

 

 

35,000

 

 

 

29.51

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

121,550

 

 

 

34.29

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(24,275

)

 

 

37.69

 

 

 

 

 

 

 

Granted

 

 

40,000

 

 

 

23.40

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

137,275

 

 

$

30.51

 

 

 

5.24

 

 

$

599

 

Exercisable at December 31, 2024

 

 

45,315

 

 

$

33.74

 

 

 

1.76

 

 

$

58

 
Outstanding Stock Options

As of December 31, 2024, outstanding stock options consist of the following:

 

 

 

Options
outstanding

 

 

Exercise
price

 

 

Remaining life
(in years)

 

 

Options
exercisable

 

 

Exercise
price

 

 

 

 

40,000

 

 

$

23.40

 

 

 

9.13

 

 

 

—

 

 

$

—

 

 

 

 

34,200

 

 

 

29.51

 

 

 

8.13

 

 

 

6,840

 

 

 

29.51

 

 

 

 

19,325

 

 

 

32.50

 

 

 

1.13

 

 

 

19,325

 

 

 

32.50

 

 

 

 

19,150

 

 

 

36.50

 

 

 

0.12

 

 

 

19,150

 

 

 

36.50

 

 

 

 

24,600

 

 

 

37.26

 

 

 

2.12

 

 

 

—

 

 

 

—

 

Outstanding at December 31, 2024

 

 

137,275

 

 

$

30.51

 

 

 

5.24

 

 

 

45,315

 

 

$

33.74

 
Intrinsic Value Related to Stock Options Exercised

The intrinsic value related to total stock options exercised during 2024, 2023, and 2022 are as follows:

 

 

 

2024

 

 

2023

 

 

2022

 

Intrinsic value of stock options exercised

 

$

—

 

 

$

—

 

 

$

—

 
v3.25.1
Note 15 - Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Schedule of Activity and Amounts Due from Directors, Principal Officers, and Their Related Interests These transactions did not involve more than normal risk of collectability or present any other unfavorable features.

 

Balance, December 31, 2023

 

$

16,547

 

New loans

 

 

20,851

 

Repayments

 

 

(18,306

)

Balance, December 31, 2024

 

$

19,092

 
Schedule of Additional Information Regarding Transactions with Related Parties

The following table provides additional information regarding transactions with related parties.

 

 December 31,

 

2024

 

 

2023

 

Commitments to extend credit

 

$

5,627

 

 

$

5,763

 

Letters of credit

 

 

2,050

 

 

 

2,050

 

Deposits received

 

 

7,232

 

 

 

6,023

 
v3.25.1
Note 16 - Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Financial Instrument Commitments

A summary of the Bank's financial instrument commitments is as follows:

 

December 31,

 

2024

 

 

2023

 

Commitments to extend credit and unused lines of credit

 

$

329,509

 

 

$

378,954

 

Standby letters of credit

 

 

19,018

 

 

 

18,820

 

Total financial instrument commitments

 

$

348,527

 

 

$

397,774

 
Summary of Maturities Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability A maturity analysis of the operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:

 

 

 

Operating Leases

 

2025

 

$

652

 

2026

 

 

504

 

2027

 

 

431

 

2028

 

 

351

 

2029

 

 

273

 

Thereafter

 

 

1,926

 

Total undiscounted cashflows

 

 

4,137

 

Total discount on cashflows

 

 

(1,211

)

Total lease liabilities

 

$

2,926

 
v3.25.1
Note 17 - Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2024
Other Comprehensive Income (Loss), Tax [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)

The following shows the components of accumulated other comprehensive income (loss) during the periods ended December 31, 2024, 2023 and 2022:

 

December 31,

 

2024

 

 

2023

 

 

2022

 

Unrealized net holding loss on available-for-sale securities

 

$

(79,832

)

 

$

(85,996

)

 

$

(102,692

)

Tax effect*

 

 

17,186

 

 

 

18,059

 

 

 

21,565

 

Accumulated other comprehensive (loss) income, net of tax

 

$

(62,646

)

 

$

(67,937

)

 

$

(81,127

)

* At blended rates of federal and state tax rates of 21.5%, 21.0% and 21.0%
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

The following table presents amounts reclassified out of accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022:

 

 

 

Amount reclassified from accumulated other
comprehensive income (loss)

 

 

 

Details about accumulated other comprehensive (loss) income

 

2024

 

 

2023

 

 

2022

 

 

Affected line item in statement of income

Realized net holding loss on available-for-sale securities

 

$

(1,096

)

 

$

(2,058

)

 

$

(139

)

 

Net (loss) gain on sales of investment securities

 

 

 

 

 

 

 

 

 

 

 

 

Tax effect*

 

 

230

 

 

 

432

 

 

 

29

 

 

Provision for income taxes

Total reclassification out of accumulated other
   comprehensive (loss) income, net of tax

 

$

(866

)

 

$

(1,626

)

 

$

(110

)

 

Net of tax

** At blended rates of federal and state tax rates of 21.0%, 21.0% and 21.0%
v3.25.1
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on a Recurring and Nonrecurring Basis

For financial assets measured at fair value on a recurring and nonrecurring basis, the fair value measurements by level within the fair value hierarchy used were as follows:

 

December 31, 2024

 

Quoted prices
in active
markets
for identical
assets
(Level 1)

 

 

Significant
other
observable
input
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries

 

$

—

 

 

$

18,010

 

 

$

—

 

 

$

18,010

 

U.S. Government agency securities

 

 

—

 

 

 

66,908

 

 

 

—

 

 

 

66,908

 

State and municipal securities (1)

 

 

—

 

 

 

86,352

 

 

 

—

 

 

 

86,352

 

U.S. Government agencies and sponsored enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities (1)

 

 

—

 

 

 

198,510

 

 

 

—

 

 

 

198,510

 

Collateralized mortgage obligations (CMOs)

 

 

—

 

 

 

161,646

 

 

 

—

 

 

 

161,646

 

Corporate debt securities and money market funds

 

 

—

 

 

 

15,082

 

 

 

51

 

 

 

15,133

 

Total securities available-for-sale

 

 

—

 

 

 

546,508

 

 

 

51

 

 

 

546,559

 

Equity securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total recurring fair value measurements

 

$

—

 

 

$

546,508

 

 

$

51

 

 

$

546,559

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring fair value measurements *

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

1

 

 

 

1

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

1

 

 

$

1

 

(1) Includes derivatives designated as fair value hedging instruments.

* impairment

 

December 31, 2023

 

Quoted prices
in active
markets
for identical
assets
(Level 1)

 

 

Significant
other
observable
input
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasuries

 

$

—

 

 

$

6,451

 

 

$

—

 

 

$

6,451

 

U.S. Government agency securities

 

 

—

 

 

 

74,122

 

 

 

—

 

 

 

74,122

 

State and municipal securities (1)

 

 

—

 

 

 

89,189

 

 

 

—

 

 

 

89,189

 

U.S. Government agencies and sponsored enterprises (GSEs):

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities (1)

 

 

—

 

 

 

224,238

 

 

 

—

 

 

 

224,238

 

Collateralized mortgage obligations (CMOs)

 

 

—

 

 

 

89,973

 

 

 

—

 

 

 

89,973

 

Corporate debt securities

 

 

—

 

 

 

6,157

 

 

 

52

 

 

 

6,209

 

Total securities available-for-sale

 

 

—

 

 

 

490,130

 

 

 

52

 

 

 

490,182

 

Equity securities

 

 

5,910

 

 

 

—

 

 

 

—

 

 

 

5,910

 

Total recurring fair value measurements

 

$

5,910

 

 

$

490,130

 

 

$

52

 

 

$

496,092

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring fair value measurements *

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

—

 

 

$

—

 

 

$

164

 

 

$

164

 

Mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

7

 

 

 

7

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

171

 

 

$

171

 

(1) Includes derivatives designated as fair value hedging instruments.

* impairment

Quantitative Information about Assets Measured at Fair Value

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which QNB has utilized Level 3 inputs to determine fair value:

 

 

 

Quantitative information about Level 3 fair value measurements

 

December 31, 2024

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
input

 

 

Value or range
of values

 

Collateral dependent loans

 

$

—

 

 

Appraisal of collateral

(1)

 

Appraisal adjustments

(2)

 

-100%

 

 

 

 

 

 

 

 

 

Liquidation expenses

(3)

 

 

0

%

Mortgage servicing rights

 

 

1

 

 

Discounted cash flow

 

 

Remaining term

 

 

0.4 to 29.2 yrs

 

 

 

 

 

 

 

 

 

Prepayment Speeds

 

 

90% to 350%

 

 

 

 

 

 

 

 

 

Discount rate

 

 

12.0% to 12.5%

 

 

 

 

Quantitative information about Level 3 fair value measurements

December 31, 2023

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
input

 

 

Value or range
of values

Collateral dependent loans

 

$

164

 

 

Appraisal of collateral

(1)

 

Appraisal adjustments

(2)

 

-20% to -100%

 

 

 

 

 

 

 

 

Liquidation expenses

(3)

 

-10%

Mortgage servicing rights

 

 

7

 

 

Discounted cash flow

 

 

Remaining term

 

 

1.5 to 29.9 yrs

 

 

 

 

 

 

 

 

Prepayment Speeds

 

 

104% to 214%

 

 

 

 

 

 

 

 

Discount rate

 

 

12.0% to 12.5%

 

(1)
Fair value is primarily determined through appraisals of the underlying collateral by independent parties, which generally includes various level 3 inputs which are not always identifiable.
(2)
Appraisals may be adjusted by management for qualitative factors such as economic conditions and the age of the appraisal. The range is presented as a percent of the initial appraised value.
(3)
Appraisals and pending agreements of sale are adjusted by management for estimated liquidation expenses. The range is presented as a percent of the initial appraised value.
Available-for-sale Securities Measured at Fair Value Using Significant Unobservable Inputs

The following table presents additional information about the securities available-for-sale measured at fair value on a recurring basis and for which QNB utilized significant unobservable inputs (Level 3 inputs) to determine fair value for the year ended December 31:

 

 

 

Fair value measurements using
significant unobservable inputs (Level 3)

 

Securities available-for-sale

 

2024

 

 

2023

 

Balance, beginning of year

 

$

52

 

 

$

53

 

Payments received

 

 

(3

)

 

 

(1

)

Sale of securities

 

 

—

 

 

 

—

 

Total gains or losses (realized/unrealized)

 

 

 

 

 

 

Included in earnings

 

 

—

 

 

 

—

 

Included in other comprehensive
   income

 

 

2

 

 

 

—

 

Transfers in and/or out of Level 3

 

 

—

 

 

 

—

 

Balance, end of year

 

$

51

 

 

$

52

 
Financial and Off-balance Sheet Instruments

The estimated fair values and carrying amounts of QNB’s financial and off-balance sheet instruments are summarized as follows:

 

 

 

 

 

 

 

 

 

Fair value measurements

 

December 31, 2024

 

Carrying
amount

 

 

Fair value

 

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

50,713

 

 

$

50,713

 

 

$

50,713

 

 

$

—

 

 

$

—

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale (1)

 

 

546,559

 

 

 

546,559

 

 

 

—

 

 

 

546,508

 

 

 

51

 

Equity

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Restricted investment in bank stocks

 

 

5,436

 

 

 

5,436

 

 

 

—

 

 

 

5,436

 

 

 

—

 

Loand held for sale

 

 

664

 

 

 

664

 

 

 

—

 

 

 

664

 

 

 

—

 

Net loans

 

 

1,207,304

 

 

 

1,212,780

 

 

 

—

 

 

 

—

 

 

 

1,212,780

 

Mortgage servicing rights

 

 

378

 

 

 

556

 

 

 

—

 

 

 

—

 

 

 

556

 

Accrued interest receivable

 

 

4,965

 

 

 

4,965

 

 

 

—

 

 

 

4,965

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with no stated maturities

 

$

1,247,083

 

 

$

1,247,083

 

 

$

1,247,083

 

 

$

—

 

 

$

—

 

Deposits with stated maturities

 

 

381,458

 

 

 

379,960

 

 

 

—

 

 

 

379,960

 

 

 

—

 

Short-term borrowings

 

 

53,844

 

 

 

53,844

 

 

 

53,844

 

 

 

—

 

 

 

—

 

Long-term debt

 

 

30,000

 

 

 

30,033

 

 

 

—

 

 

 

30,033

 

 

 

—

 

Subordinated debt

 

 

39,068

 

 

 

40,600

 

 

 

—

 

 

 

40,600

 

 

 

—

 

Accrued interest payable

 

 

7,580

 

 

 

7,580

 

 

 

—

 

 

 

7,580

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Standby letters of credit

 

 

—

 

 

 

59

 

 

 

—

 

 

 

59

 

 

 

—

 

(1) Includes derivatives designated as fair value hedging instruments.

 

 

 

 

 

 

 

 

 

Fair value measurements

 

December 31, 2023

 

Carrying
amount

 

 

Fair value

 

 

Quoted
prices in
active
markets for
identical
assets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

62,657

 

 

$

62,657

 

 

$

62,657

 

 

$

—

 

 

$

—

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale (1)

 

 

490,182

 

 

 

490,182

 

 

 

—

 

 

 

490,130

 

 

 

52

 

Equity

 

 

5,910

 

 

 

5,910

 

 

 

5,910

 

 

 

—

 

 

 

—

 

Restricted investment in bank stocks

 

 

2,730

 

 

 

2,730

 

 

 

—

 

 

 

2,730

 

 

 

—

 

Loand held for sale

 

 

549

 

 

 

560

 

 

 

—

 

 

 

560

 

 

 

—

 

Net loans

 

 

1,084,681

 

 

 

1,077,544

 

 

 

—

 

 

 

—

 

 

 

1,077,544

 

Mortgage servicing rights

 

 

415

 

 

 

585

 

 

 

—

 

 

 

—

 

 

 

585

 

Accrued interest receivable

 

 

6,101

 

 

 

6,101

 

 

 

—

 

 

 

6,101

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with no stated maturities

 

$

1,173,732

 

 

$

1,173,732

 

 

$

1,173,732

 

 

$

—

 

 

$

—

 

Deposits with stated maturities

 

 

314,981

 

 

 

311,735

 

 

 

—

 

 

 

311,735

 

 

 

—

 

Short-term borrowings

 

 

94,094

 

 

 

94,094

 

 

 

94,094

 

 

 

—

 

 

 

—

 

Long-term debt

 

 

20,000

 

 

 

19,906

 

 

 

—

 

 

 

19,906

 

 

 

—

 

Accrued interest payable

 

 

5,294

 

 

 

5,294

 

 

 

—

 

 

 

5,294

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Standby letters of credit

 

 

—

 

 

 

79

 

 

 

—

 

 

 

79

 

 

 

—

 

(1) Includes derivatives designated as fair value hedging instruments.
v3.25.1
Note 19 - Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Derivative Instruments

The following table presents the notional amounts of derivatives designated as fair value hedging instruments at December 31, 2024 and 2023. QNB pledges cash or securities to cover the negative fair value of derivatives instruments. Cash collateral associated with the derivative instruments are not added to or netted against the fair value amounts.

 

 

 

At December 31, 2024

 

 

At December 31, 2023

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

 

Interest Rate Swaps-Fair Value Hedges

 

Balance Sheet Classification

 

Notional Amount

 

 

Amortized Cost of Hedged Portfolio

 

 

Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount of Hedged Asset

 

 

Notional Amount

 

 

Amortized Cost of Hedged Portfolio

 

 

Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount of Hedged Asset

 

Investment Securities Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal securities

 

$

75,000

 

 

$

96,709

 

 

$

1,566

 

 

$

75,000

 

 

$

97,373

 

 

$

(445

)

U.S. Government agencies and GSE mortgage backed securities

 

 

225,000

 

 

 

309,546

 

 

 

3,264

 

 

 

225,000

 

 

 

343,453

 

 

 

(1,304

)

Total

 

$

300,000

 

 

$

406,255

 

 

$

4,830

 

 

$

300,000

 

 

$

440,826

 

 

$

(1,749

)

 
Schedule of Derivative Designated as Fair Value Hedging Instruments of Statements on Income

The following table presents amounts of included in the Consolidated Statements on Income for derivatives designated as fair value hedging instruments for the years ended December 31, 2024 and 2023.

 

For the year ended

 

December 31,

 

Income Sheet Classification

 

2024

 

 

2023

 

Interest and dividends on available-for-sale and equity securities:

 

 

 

 

 

 

State and municipal securities

 

 

 

 

 

 

Recognized on fair value hedge

 

$

3,910

 

 

$

2,180

 

Recognized on hedge portfolio

 

 

(2,664

)

 

 

(1,470

)

Recognized on remeasurement of fair value hedge

 

 

10

 

 

 

16

 

U.S. Government agencies and GSE mortgage backed securities

 

 

 

 

 

 

Recognized on fair value hedge

 

 

11,731

 

 

 

6,517

 

Recognized on hedge portfolio

 

 

(8,243

)

 

 

(4,483

)

Recognized on remeasurement of fair value hedge

 

 

34

 

 

 

41

 

Total

 

$

4,778

 

 

$

2,801

 
v3.25.1
Note 21 - Parent Company Financial Information (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet

Balance Sheets

 

 

 

 

 

 

December 31,

 

2024

 

 

2023

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

       Balances with subsidiary or affiliated depository institutions

 

$

1,193

 

 

$

—

 

       Balances with unrelated depository institutions

 

 

3,414

 

 

 

565

 

Investment securities:

 

 

 

 

 

 

Available-for-sale (amortized cost $18,004 and $6,448)

 

 

18,010

 

 

 

6,451

 

Equity securities (cost of $0 and $5,695)

 

 

—

 

 

 

5,910

 

Investment in subsidiary

 

 

120,576

 

 

 

77,173

 

Other assets

 

 

674

 

 

 

752

 

Total assets

 

$

143,867

 

 

$

90,851

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Subordinated debt

 

$

39,068

 

 

$

—

 

Other liabilities

 

 

1,450

 

 

 

27

 

Total liabilities

 

 

40,518

 

 

 

27

 

Shareholders' equity

 

 

103,349

 

 

 

90,824

 

Total liabilities and shareholders' equity

 

$

143,867

 

 

$

90,851

 
Condensed Income Statement

Statements of Income

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Dividends from subsidiary

 

$

7,023

 

 

$

4,407

 

 

$

4,329

 

Interest, dividend and other income

 

 

733

 

 

 

517

 

 

 

358

 

Securities gains (losses)

 

 

517

 

 

 

(19

)

 

 

405

 

Net unrealized (loss) gain on investment equity securities

 

 

(215

)

 

 

250

 

 

 

(1,026

)

Total income

 

 

8,058

 

 

 

5,155

 

 

 

4,066

 

Expenses

 

 

1,923

 

 

 

661

 

 

 

496

 

Income before applicable income taxes and equity in
   undistributed income of subsidiary

 

 

6,135

 

 

 

4,494

 

 

 

3,570

 

Provision for income tax (benefit) expense

 

 

(99

)

 

 

(1

)

 

 

(235

)

Income before equity in undistributed income of subsidiary

 

 

6,234

 

 

 

4,495

 

 

 

3,805

 

Equity in undistributed income of subsidiary

 

 

5,214

 

 

 

4,988

 

 

 

12,116

 

Net income

 

$

11,448

 

 

$

9,483

 

 

$

15,921

 
Condensed Comprehensive Income

Statements of Comprehensive Income (Loss)

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

 

 

Before
tax
amount

 

 

Tax
expense
(benefit)

 

 

Net of
tax
amount

 

 

Before
tax
amount

 

 

Tax
expense
(benefit)

 

 

Net of
tax
amount

 

 

Before
tax
amount

 

 

Tax
expense
(benefit)

 

 

Net of
tax
amount

 

Net income

 

$

14,359

 

 

$

2,911

 

 

$

11,448

 

 

$

11,727

 

 

$

2,244

 

 

$

9,483

 

 

$

19,586

 

 

$

3,665

 

 

$

15,921

 

Other comprehensive income/(loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized holding gain/(loss) on available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding (loss)/gain arising during the period

 

 

5,068

 

 

 

643

 

 

 

4,425

 

 

 

14,638

 

 

 

3,074

 

 

 

11,564

 

 

 

(98,097

)

 

 

(20,600

)

 

 

(77,497

)

Reclassification adjustment for loss included in net income

 

 

1,096

 

 

 

230

 

 

 

866

 

 

 

2,058

 

 

 

432

 

 

 

1,626

 

 

 

139

 

 

 

29

 

 

 

110

 

Other comprehensive income/(loss):

 

 

6,164

 

 

 

873

 

 

 

5,291

 

 

 

16,696

 

 

 

3,506

 

 

 

13,190

 

 

 

(97,958

)

 

 

(20,571

)

 

 

(77,387

)

Total comprehensive income (loss)

 

$

20,523

 

 

$

3,784

 

 

$

16,739

 

 

$

28,423

 

 

$

5,750

 

 

$

22,673

 

 

$

(78,372

)

 

$

(16,906

)

 

$

(61,466

)

 
Condensed Cash Flow Statement

Statements of Cash Flows

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

2024

 

 

2023

 

 

2022

 

Operating Activities

 

 

 

 

 

 

 

 

 

Net income

 

$

11,448

 

 

$

9,483

 

 

$

15,921

 

Adjustments to reconcile net income to net cash provided
   by operating activities:

 

 

 

 

 

 

 

 

 

Equity in undistributed income from subsidiary

 

 

(5,214

)

 

 

(4,988

)

 

 

(12,116

)

Net securities gains (losses)

 

 

(517

)

 

 

19

 

 

 

(405

)

Net unrealized loss (gain) on investment equity securities

 

 

215

 

 

 

(250

)

 

 

1,026

 

Stock-based compensation expense

 

 

199

 

 

 

185

 

 

 

85

 

Accretion of discounts on investment securities

 

 

(349

)

 

 

(174

)

 

 

(6

)

Amortization of deferred costs on subordinated debt

 

 

56

 

 

 

—

 

 

 

—

 

Increase (decrease) in other liabilities

 

 

210

 

 

 

(36

)

 

 

(266

)

Decrease (increase) in other assets

 

 

77

 

 

 

(122

)

 

 

(121

)

Deferred income tax (benefit) provision

 

 

226

 

 

 

42

 

 

 

(285

)

Net cash provided by operating activities

 

 

6,351

 

 

 

4,159

 

 

 

3,833

 

Investing activities

 

 

 

 

 

 

 

 

 

Purchase of investment equity securities

 

 

(1,170

)

 

 

(2,179

)

 

 

(1,860

)

Purchase of investment securities available-for-sale

 

 

(35,783

)

 

 

(14,275

)

 

 

(1,193

)

Proceeds from sale of investment equity securities

 

 

7,382

 

 

 

8,556

 

 

 

1,594

 

Proceeds from maturities of investment securities available-for-sale

 

 

24,575

 

 

 

7,800

 

 

 

900

 

Capital contribution to Bank

 

 

(32,900

)

 

 

—

 

 

 

—

 

Net cash (used) provided by investing activities

 

 

(37,896

)

 

 

(98

)

 

 

(559

)

Financing activities

 

 

 

 

 

 

 

 

 

Issuance of subordinated debt

 

 

40,000

 

 

 

—

 

 

 

—

 

Cash dividend paid

 

 

(4,798

)

 

 

(4,671

)

 

 

(4,498

)

Treasury stock purchase

 

 

—

 

 

 

—

 

 

 

(75

)

Proceeds from issuance of common stock

 

 

385

 

 

 

822

 

 

 

418

 

Net cash provided by (used) by financing activities

 

 

35,587

 

 

 

(3,849

)

 

 

(4,155

)

Increase (decrease) in cash and cash equivalents

 

 

4,042

 

 

 

212

 

 

 

(881

)

Cash and cash equivalents at beginning of year

 

 

565

 

 

 

353

 

 

 

1,234

 

Cash and cash equivalents at end of year

 

$

4,607

 

 

$

565

 

 

$

353

 

 
v3.25.1
Note 22 - Regulatory Restrictions (Tables)
 12 Months Ended
Dec. 31, 2024
Regulated Operations [Abstract]  
Capital Ratios and Regulatory Minimum Requirements The Company and the Bank’s actual capital amounts and ratios are presented as follows:

 

 

 

Capital levels

 

 

 

Actual

 

 

Adequately capitalized

 

 

Well capitalized

 

As of December 31, 2024

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

Total risk-based capital (to risk-weighted
   assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

214,826

 

 

 

15.56

%

 

 

110,480

 

 

 

8.00

%

 

 

138,100

 

 

 

10.00

%

Bank

 

 

192,057

 

 

 

13.92

 

 

 

110,396

 

 

8.00

 

 

 

137,995

 

 

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

165,995

 

 

 

12.02

 

 

 

82,860

 

 

6.00

 

 

 

82,860

 

 

6.00

 

Bank

 

 

183,226

 

 

 

13.28

 

 

 

82,797

 

 

6.00

 

 

 

110,396

 

 

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common equity tier 1 capital (to risk-
   weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

165,995

 

 

 

12.02

 

 

 

62,145

 

 

4.50

 

 

N/A

 

 

N/A

 

Bank

 

 

183,226

 

 

 

13.28

 

 

 

62,098

 

 

4.50

 

 

 

89,696

 

 

6.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

165,995

 

 

 

8.70

 

 

 

76,357

 

 

4.00

 

 

N/A

 

 

N/A

 

Bank

 

 

183,226

 

 

 

9.71

 

 

 

75,483

 

 

4.00

 

 

 

94,353

 

 

5.00

 

 

 

 

Capital levels

 

 

 

Actual

 

 

Adequately capitalized

 

 

Well capitalized

 

As of December 31, 2023

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

Total risk-based capital (to risk-weighted
   assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

167,711

 

 

 

13.09

%

 

 

102,513

 

 

 

8.00

%

 

 

128,142

 

 

 

10.00

%

Bank

 

 

154,062

 

 

 

12.20

 

 

 

101,032

 

 

8.00

 

 

 

126,290

 

 

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

158,753

 

 

 

12.39

 

 

 

76,885

 

 

6.00

 

 

 

76,885

 

 

6.00

 

Bank

 

 

145,104

 

 

 

11.49

 

 

 

75,774

 

 

6.00

 

 

 

101,032

 

 

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common equity tier 1 capital (to risk-
   weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

158,753

 

 

 

12.39

 

 

 

57,664

 

 

4.50

 

 

N/A

 

 

N/A

 

Bank

 

 

145,104

 

 

 

11.49

 

 

 

56,830

 

 

4.50

 

 

 

82,088

 

 

6.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier I capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

158,753

 

 

 

8.92

 

 

 

71,185

 

 

4.00

 

 

N/A

 

 

N/A

 

Bank

 

 

145,104

 

 

 

8.18

 

 

 

70,961

 

 

4.00

 

 

 

88,701

 

 

5.00

 
v3.25.1
Note 23 - Consolidated Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Quarterly Results of Operations

The unaudited quarterly results of operations for the years ended 2024 and 2023 are in the following table:

 

 

 

Quarters Ended 2024

 

 

Quarters Ended 2023

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Interest income

 

$

19,569

 

 

$

20,345

 

 

$

21,945

 

 

$

22,209

 

 

$

15,463

 

 

$

15,865

 

 

$

18,497

 

 

$

19,257

 

Interest expense

 

 

9,401

 

 

 

9,753

 

 

 

10,818

 

 

 

11,234

 

 

 

5,046

 

 

 

6,532

 

 

 

8,284

 

 

 

9,065

 

Net interest income

 

 

10,168

 

 

 

10,592

 

 

 

11,127

 

 

 

10,975

 

 

 

10,417

 

 

 

9,333

 

 

 

10,213

 

 

 

10,192

 

(Reversal of) provision for credit losses

 

 

(86

)

 

 

114

 

 

 

159

 

 

 

(255

)

 

 

(1,805

)

 

 

209

 

 

 

459

 

 

 

293

 

Non-interest income

 

 

1,836

 

 

 

1,465

 

 

 

1,967

 

 

 

1,645

 

 

 

1,219

 

 

 

1,580

 

 

 

1,755

 

 

 

283

 

Non-interest expense

 

 

8,833

 

 

 

8,934

 

 

 

8,636

 

 

 

9,081

 

 

 

8,200

 

 

 

8,492

 

 

 

8,671

 

 

 

8,746

 

Income before income taxes

 

 

3,257

 

 

 

3,009

 

 

 

4,299

 

 

 

3,794

 

 

 

5,241

 

 

 

2,212

 

 

 

2,838

 

 

 

1,436

 

Provision for income taxes

 

 

663

 

 

 

544

 

 

 

961

 

 

 

743

 

 

 

1,123

 

 

 

325

 

 

 

494

 

 

 

302

 

Net Income

 

$

2,594

 

 

$

2,465

 

 

$

3,338

 

 

$

3,051

 

 

$

4,118

 

 

$

1,887

 

 

$

2,344

 

 

$

1,134

 

Earnings Per Share - basic *

 

$

0.71

 

 

$

0.67

 

 

$

0.91

 

 

$

0.83

 

 

$

1.15

 

 

$

0.52

 

 

$

0.65

 

 

$

0.31

 

Earnings Per Share - diluted *

 

$

0.71

 

 

$

0.67

 

 

$

0.91

 

 

$

0.83

 

 

$

1.15

 

 

$

0.52

 

 

$

0.65

 

 

$

0.31

 

 

* Due to rounding, quarterly earnings per share may not sum to annual earnings per share

v3.25.1
Note 1 - Summary of Significant Accounting Policies (Details Textual)
 12 Months Ended
Dec. 31, 2024
USD ($)
Lease
Contract
Segment
$ / shares
shares
Dec. 31, 2023
USD ($)
Contract
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Sep. 26, 2024
Summary of Significant Accounting Policies [Line Items]        
Number of Operating Segments | Segment 1      
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] President and Chief Executive Officer [Member]      
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description The CODM evaluates the financial performance of the Company's business components using consolidated revenue, expenses, balance sheet growth and financial ratios to budget and prior periods to determine the allocation of resources and to measure performance. The CODM utilizes consolidated net income to benchmark the Company against its competitors and peer group. This information is used by the CODM to achieve strategic initiatives and allocate resources. Significant revenues are provided by loans, investments and deposits. Significant expenses include interest expense, the provision for credit losses and payroll.      
Restricted investment in stocks $ 5,436,000 $ 2,730,000    
Conversion factor per share       1.543
Impairment charge of restricted investment $ 0      
Financing receivable, modifications, subsequent default, number of contracts | Contract 0 0    
Loan modifications to borrowers experiencing financial difficulty $ 1,000,000 $ 0    
Lease option to extend description QNB typically enters into lease agreements with an initial term of 5 to 10 years and subsequent additional optional terms in increments of 5 years.      
Lease option to terminate description The lease agreements also contain termination options. None of the leases contain purchase options and none transfer the ownership of the leased asset.      
Number of operating lease renewed | Lease 2      
Lease agreement subsequent additional optional term in increments 5 years      
Lease agreement option to extend on increments true      
Lease option to terminate true      
Impairment on right-of-use asset $ 0      
Other Postretirement Benefit Expense 25,000 56,000 $ 118,000  
Allocated Share-based Compensation Expense 87,000 90,000 70,000  
Employee service Share-based compensation, tax benefit from nonqualified compensation expense and disqualifying dispositions $ 4,000 $ 3,000 $ 2,000  
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value | $ / shares $ 3.08 $ 4.11 $ 5.2  
Unrecognized Tax Benefits $ 0      
Interest accrued 0      
Penalties expense $ 0      
Tax years subject to examination by tax authorities 2021      
Valuation allowance $ 172,000 $ 4,000    
Net loans 1,207,304,000 $ 1,084,681,000    
Commercial Portfolio Segment [Member] | Substandard [Member]        
Summary of Significant Accounting Policies [Line Items]        
Net loans 6,695,000      
Unused commitments $ 3,306,000      
Minimum [Member]        
Summary of Significant Accounting Policies [Line Items]        
Lease agreements initial terms 5 years      
Lease agreement subsequent additional optional term in increments 5 years      
Maximum [Member]        
Summary of Significant Accounting Policies [Line Items]        
Lease agreements initial terms 10 years      
Lease agreement subsequent additional optional term in increments 10 years      
Investment in Federal Home Loan Bank Stock [Member]        
Summary of Significant Accounting Policies [Line Items]        
Restricted investment in stocks $ 3,510,000      
Investment in Atlantic Community Bankers Bank Stock [Member]        
Summary of Significant Accounting Policies [Line Items]        
Restricted investment in stocks 12,000      
VISA Class B-2 Stock [Member]        
Summary of Significant Accounting Policies [Line Items]        
Restricted investment in stocks $ 0      
Number of shares owned | shares 3,251      
Investment in National Energy Improvement Fund, LLC [Member]        
Summary of Significant Accounting Policies [Line Items]        
Restricted investment in stocks $ 914,000      
Investment In SHCPFIC Preferred Stock [Member]        
Summary of Significant Accounting Policies [Line Items]        
Restricted investment in stocks $ 1,000,000      
Number of shares owned | shares 100      
v3.25.1
Note 1 - Schedule of Estimated Useful Lives of Assets (Details)
Dec. 31, 2024
Minimum [Member] | Buildings [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 10 years
Minimum [Member] | Furniture and Equipment Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 3 years
Minimum [Member] | Leasehold Improvements [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 5 years
Maximum [Member] | Buildings [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 39 years
Maximum [Member] | Furniture and Equipment Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 15 years
Maximum [Member] | Leasehold Improvements [Member]  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 30 years
v3.25.1
Note 1 - Assumptions Used in Option Pricing Model (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Risk free interest rate 3.98% 3.64% 1.25%
Dividend yield 5.97% 4.80% 3.64%
Volatility 20.96% 20.36% 22.68%
Expected life (years) 8 years 2 months 8 days 8 years 4 months 6 days 4 years 18 days
v3.25.1
Note 2 - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]                      
Numerator for basic and diluted earnings per share - net income $ 3,051 $ 3,338 $ 2,465 $ 2,594 $ 1,134 $ 2,344 $ 1,887 $ 4,118 $ 11,448 $ 9,483 $ 15,921
Denominator for basic earnings per share - weighted average shares outstanding                 3,672,251 3,610,713 3,564,481
Effect of dilutive securities - employee stock options                 1,446    
Denominator for diluted earnings per share - adjusted weighted average shares outstanding                 3,673,697 3,610,713 3,564,481
Earnings per share - basic $ 0.83 [1] $ 0.91 [1] $ 0.67 [1] $ 0.71 [1] $ 0.31 [1] $ 0.65 [1] $ 0.52 [1] $ 1.15 [1] $ 3.12 $ 2.63 $ 4.47
Earnings per share - diluted $ 0.83 [1] $ 0.91 [1] $ 0.67 [1] $ 0.71 [1] $ 0.31 [1] $ 0.65 [1] $ 0.52 [1] $ 1.15 [1] $ 3.12 $ 2.63 $ 4.47
[1] Due to rounding, quarterly earnings per share may not sum to annual earnings per share
v3.25.1
Note 2 - Earnings Per Share and Share Repurchase Plan (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Apr. 27, 2021
Feb. 09, 2009
Jan. 21, 2008
Earnings Per Share and Share Repurchase Plan [Line Items]            
Treasury stock, shares 208,686 208,686        
Treasury stock, value     $ 75,000      
Board of Directors [Member]            
Earnings Per Share and Share Repurchase Plan [Line Items]            
Stock repurchase plan approved date Jan. 21, 2008          
Share Repurchase Program 1 [Member]            
Earnings Per Share and Share Repurchase Plan [Line Items]            
Treasury stock, shares, acquired 0 0 2,000      
Treasury stock, shares 102,000          
Treasury stock shares average price per share acquired $ 24.93          
Treasury stock, value $ 2,543,000          
Share Repurchase Program 1 [Member] | Maximum [Member]            
Earnings Per Share and Share Repurchase Plan [Line Items]            
Stock repurchase program, number of shares authorized to be repurchased       200,000 100,000 50,000
Employee Stock Option [Member]            
Earnings Per Share and Share Repurchase Plan [Line Items]            
Antidilutive securities excluded from computation of earnings per share, amount 97,275 121,550 109,150      
v3.25.1
Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Cash and Cash Equivalents [Abstract]    
Collateral against fair value hedge $ 0 $ 1,850,000
v3.25.1
Note 4 - Debt Securities Available-for-Sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale $ 546,559 $ 490,182
Investment securities available-for-sale, debt securities gross unrealized holding gains 47 5
Investment securities available-for-sale, debt securities gross unrealized holding losses (84,709) (84,252)
Investment securities available-for-sale, debt securities gross unrealized fair value hedge gains (losses) 4,830 (1,749)
Investment securities available-for-sale, debt securities amortized cost 626,391 576,178
US Treasury Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale 18,010 6,451
Investment securities available-for-sale, debt securities gross unrealized holding gains 6 3
Investment securities available-for-sale, debt securities amortized cost 18,004 6,448
US Government Agencies Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale 66,908 74,122
Investment securities available-for-sale, debt securities gross unrealized holding losses (9,051) (10,828)
Investment securities available-for-sale, debt securities amortized cost 75,959 84,950
US States and Political Subdivisions Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale 86,352 [1] 89,189 [2]
Investment securities available-for-sale, debt securities gross unrealized holding losses (20,631) (18,714)
Investment securities available-for-sale, debt securities gross unrealized fair value hedge gains (losses) 1,566 (445)
Investment securities available-for-sale, debt securities amortized cost 105,417 108,348
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale 198,510 [1] 224,238 [2]
Investment securities available-for-sale, debt securities gross unrealized holding losses (38,902) (37,831)
Investment securities available-for-sale, debt securities gross unrealized fair value hedge gains (losses) 3,264 (1,304)
Investment securities available-for-sale, debt securities amortized cost 234,148 263,373
Collateralized Mortgage Obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale 161,646 89,973
Investment securities available-for-sale, debt securities gross unrealized holding gains 31  
Investment securities available-for-sale, debt securities gross unrealized holding losses (15,821) (16,383)
Investment securities available-for-sale, debt securities amortized cost 177,436 106,356
Corporate Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale   6,209
Investment securities available-for-sale, debt securities gross unrealized holding gains   2
Investment securities available-for-sale, debt securities gross unrealized holding losses   (496)
Investment securities available-for-sale, debt securities amortized cost   $ 6,703
Corporate Debt Securities and Money Market Funds [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Available-for-sale 15,133  
Investment securities available-for-sale, debt securities gross unrealized holding gains 10  
Investment securities available-for-sale, debt securities gross unrealized holding losses (304)  
Investment securities available-for-sale, debt securities amortized cost $ 15,427  
[1] Includes derivatives designated as fair value hedging instruments.
[2] Includes derivatives designated as fair value hedging instruments.
v3.25.1
Note 4 - Investment Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]    
Due in one year or less, Fair value $ 18,247  
Due after one year through five years, Fair value 61,991  
Due after five years through ten years, Fair value 45,479  
Due after ten years, Fair value 60,686  
Total fair value 186,403  
Investment securities available-for-sale, debt securities 546,559 $ 490,182
Due in one year or less, Amortized cost 18,231  
Due after one year through five years, Amortized cost 68,542  
Due after five years through ten years, Amortized cost 50,445  
Due after ten years, Amortized cost 77,589  
Total amortized cost 214,807  
Investment securities available-for-sale, debt securities amortized cost 626,391 576,178
Mortgage-Backed Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Investment securities available-for-sale, debt securities 198,510  
Investment securities available-for-sale, debt securities amortized cost 234,148  
Collateralized Mortgage Obligations [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Investment securities available-for-sale, debt securities 161,646 89,973
Investment securities available-for-sale, debt securities amortized cost $ 177,436 $ 106,356
v3.25.1
Note 4 - Investment Securities (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investment Securities [Line Items]      
Proceeds from sale of investment securities $ 13,139,000 $ 33,213,000 $ 7,551,000
Other than temporary impairment charges recognized for debt securities 0 0 0
Available-for-sale securities pledged as collateral $ 241,586,000 $ 289,935,000  
Debt Securities, Available-for-Sale, Restriction Type [Extensible Enumeration] us-gaap:AssetPledgedAsCollateralMember us-gaap:AssetPledgedAsCollateralMember  
Investment equity securities $ 0 $ 5,910,000  
Unrealized (gains) losses, net of tax (4,425,000) (11,564,000) 77,497,000
Proceeds from sale of investment equity securities 8,880,000 8,556,000 1,594,000
Impairment charges for debt securities held 1,000    
Debt Securities [Member]      
Investment Securities [Line Items]      
Income tax expense (benefit) related to net realized gains (losses) on sales of securities (230,000) (432,000) (29,000)
Equity Securities [Member]      
Investment Securities [Line Items]      
Income tax expense (benefit) related to net recognized gains (losses) on sales of securities $ 499,000 $ 67,000 $ 179,000
v3.25.1
Note 4 - Realized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]      
Gross realized gains $ 0 $ 0 $ 8
Gross realized losses (1,096) (2,058) (147)
Impairment 0 0 0
Total net losses on available-for-sale securities $ (1,096) $ (2,058) $ (139)
v3.25.1
Note 4 - Debt Securities in a Continuous Unrealized Loss Position (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Security
Dec. 31, 2023
USD ($)
Security
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 537 526
Debt Securities in an unrealized loss position less than 12 months, fair value $ 93,987 $ 875
Debt Securities in an unrealized loss position less than 12 months, unrealized losses (292) 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 477,347 484,934
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (84,417) (84,252)
Debt Securities in an unrealized loss position, fair value 571,334 485,809
Debt Securities in an unrealized loss position, unrealized losses $ (84,709) $ (84,252)
US Treasury Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 0 1
Debt Securities in an unrealized loss position less than 12 months, fair value $ 0 $ 494
Debt Securities in an unrealized loss position less than 12 months, unrealized losses 0 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 0 0
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses 0 0
Debt Securities in an unrealized loss position, fair value 0 494
Debt Securities in an unrealized loss position, unrealized losses $ 0 $ 0
US Government Agencies Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 35 39
Debt Securities in an unrealized loss position less than 12 months, fair value $ 0 $ 0
Debt Securities in an unrealized loss position less than 12 months, unrealized losses 0 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 75,959 74,122
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (9,051) (10,828)
Debt Securities in an unrealized loss position, fair value 75,959 74,122
Debt Securities in an unrealized loss position, unrealized losses $ (9,051) $ (10,828)
US States and Political Subdivisions Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 188 191
Debt Securities in an unrealized loss position less than 12 months, fair value $ 288 $ 380
Debt Securities in an unrealized loss position less than 12 months, unrealized losses (2) 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 84,471 89,238
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (20,629) (18,714)
Debt Securities in an unrealized loss position, fair value 84,759 89,618
Debt Securities in an unrealized loss position, unrealized losses $ (20,631) $ (18,714)
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 153 165
Debt Securities in an unrealized loss position less than 12 months, fair value $ 1 $ 1
Debt Securities in an unrealized loss position less than 12 months, unrealized losses 0 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 234,073 225,500
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (38,902) (37,831)
Debt Securities in an unrealized loss position, fair value 234,074 225,501
Debt Securities in an unrealized loss position, unrealized losses $ (38,902) $ (37,831)
Collateralized Mortgage Obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 154 126
Debt Securities in an unrealized loss position less than 12 months, fair value $ 83,026 $ 0
Debt Securities in an unrealized loss position less than 12 months, unrealized losses (262) 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 78,569 89,973
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (15,559) (16,383)
Debt Securities in an unrealized loss position, fair value 161,595 89,973
Debt Securities in an unrealized loss position, unrealized losses $ (15,821) $ (16,383)
Corporate Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security   4
Debt Securities in an unrealized loss position less than 12 months, fair value   $ 0
Debt Securities in an unrealized loss position less than 12 months, unrealized losses   0
Debt Securities in an unrealized loss position 12 months or longer, fair value   6,101
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses   (496)
Debt Securities in an unrealized loss position, fair value   6,101
Debt Securities in an unrealized loss position, unrealized losses   $ (496)
Corporate Debt Securities and Money Market Funds [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 7  
Debt Securities in an unrealized loss position less than 12 months, fair value $ 10,672  
Debt Securities in an unrealized loss position less than 12 months, unrealized losses (28)  
Debt Securities in an unrealized loss position 12 months or longer, fair value 4,275  
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (276)  
Debt Securities in an unrealized loss position, fair value 14,947  
Debt Securities in an unrealized loss position, unrealized losses $ (304)  
v3.25.1
Note 4 - Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Equity Securities [Abstract]      
Net gain (loss) recognized during the period on equity securities $ 1,800 $ 231 $ (621)
Less: Net gain (loss) recognized during the period on equity securities sold during the period 2,015 (19) 405
Net unrealized (loss) gain recognized during the reporting period on equity securities still held at the reporting date $ (215) $ 250 $ (1,026)
v3.25.1
Note 5 - Major Classes of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]        
Loans $ 1,216,551 $ 1,093,771    
Net unearned (fees) and deferred costs (503) (238)    
Allowance for credit losses on loans (8,744) (8,852) $ (10,531) $ (11,184)
Net loans 1,207,304 1,084,681    
State and Political Subdivisions [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 17,683 18,708    
Commercial Portfolio Segment [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 1,029,809 919,415    
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 153,187 137,086    
Allowance for credit losses on loans (829) (823) (1,316) (3,368)
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 129,464 116,173    
Allowance for credit losses on loans (1,336) (1,252)    
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 137,461 109,193    
Allowance for credit losses on loans (2,012) (1,735)    
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 163,955 160,695    
Allowance for credit losses on loans (853) (1,001)    
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 313,390 265,101    
Allowance for credit losses on loans (1,142) (1,167)    
Commercial Portfolio Segment [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 5,652 5,442    
Commercial Portfolio Segment [Member] | Real Estate Secured By 1st Lien on 1-4 Family Properties-Business [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 105,779 103,572    
Commercial Portfolio Segment [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Business [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 3,238 3,445    
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 17,683 18,708    
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 114,423 108,906    
Allowance for credit losses on loans (323) (427) $ (683) $ (646)
Retail Portfolio Segment [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 48,231 34,231    
Retail Portfolio Segment [Member] | Real Estate Secured By First Lein on 1-4 Family Properties-Personal [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 6,561 11,981    
Retail Portfolio Segment [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Personal [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 14,092 15,625    
Retail Portfolio Segment [Member] | Student Loans [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 1,444 1,662    
Retail Portfolio Segment [Member] | Overdrafts [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 209 194    
Allowance for credit losses on loans (18) (16)    
Retail Portfolio Segment [Member] | Other Consumer [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Loans 1,782 1,757    
Allowance for credit losses on loans $ (35) $ (34)    
v3.25.1
Note 5 - Loans Receivable and the Allowance for Loan Losses (Details Textual)
 12 Months Ended
Dec. 31, 2024
USD ($)
Contract
Loan
Dec. 31, 2023
USD ($)
Contract
Loan
Accounts Notes And Loans Receivable [Line Items]    
Interest income on non-accrual loans $ 126,000 $ 557,000
Financing receivable, modifications, subsequent default, number of contracts | Contract 0 0
Retail Portfolio Segment [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Revolving lines of credit $ 3,394,000 $ 4,534,000
Residential Portfolio Segment [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Mortgage loan on real estate number of loan in foreclosure | Loan 3 0
Mortgage loans in process of foreclosure, amount $ 457,000  
Residential Portfolio Segment [Member] | Maximum [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Loan to value ratio 80.00%  
Residential Buildings and Dwellings [Member] | Credit Concentration Risk [Member] | Commercial Real Estate [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Concentration of loans to lessors percentage of total loans 21.90% 21.50%
Nonresidential Buildings [Member] | Credit Concentration Risk [Member] | Commercial Real Estate [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Concentration of loans to lessors percentage of total loans 23.30% 24.70%
v3.25.1
Note 5 - Internal Risk Ratings and Payment Activity (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable Recorded Investment [Line Items]      
Total $ 1,216,551 $ 1,093,771  
Total, Charge-Offs 199 475 $ 196
Commercial and Industrial [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated prior year-2023, Charge-Offs   229  
Revolving, Charge-Offs 23 84  
Total, Charge-Offs 23 313  
State and Political Subdivisions [Member]      
Financing Receivable Recorded Investment [Line Items]      
Total 17,683 18,708  
Student Loans [Member]      
Financing Receivable Recorded Investment [Line Items]      
Prior, Charge-Offs 52 57  
Total, Charge-Offs 52 57  
Overdrafts [Member]      
Financing Receivable Recorded Investment [Line Items]      
Revolving, Charge-Offs 101 91  
Total, Charge-Offs 101 91  
Other Consumer [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated prior year-2023, Charge-Offs 4 1  
Originated two years prior year-2022, Charge-Offs 8 3  
Originated three years prior year-2021, Charge-Offs 4    
Revolving, Charge-Offs 7 10  
Total, Charge-Offs 23 14  
Commercial Portfolio Segment [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 173,760 140,159  
Originated prior year-2023 139,973 190,260  
Originated two years prior year-2022 172,361 141,940  
Originated three years prior year 128,208 66,038  
Originated four years prior year 57,058 74,696  
Prior 263,301 228,994  
Revolving 95,148 77,328  
Total 1,029,809 919,415  
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 24,130 20,473  
Originated prior year-2023 12,423 14,439  
Originated two years prior year-2022 10,818 8,574  
Originated three years prior year 4,909 5,913  
Originated four years prior year 2,597 8,626  
Prior 8,814 7,175  
Revolving 89,496 71,886  
Total 153,187 137,086  
Total, Charge-Offs 23 313 38
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 53,278 46,171  
Originated prior year-2023 39,426 43,472  
Originated two years prior year-2022 11,404 14,630  
Originated three years prior year 13,998 3,434  
Originated four years prior year 3,268 4,028  
Prior 8,090 4,438  
Revolving 0 0  
Total 129,464 116,173  
Total, Charge-Offs 0 0  
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 26,080 10,826  
Originated prior year-2023 17,866 28,858  
Originated two years prior year-2022 27,638 23,430  
Originated three years prior year 22,402 9,808  
Originated four years prior year 9,210 6,508  
Prior 34,265 29,763  
Revolving 0 0  
Total 137,461 109,193  
Total, Charge-Offs 0 0  
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 15,511 14,430  
Originated prior year-2023 21,148 29,576  
Originated two years prior year-2022 27,412 26,908  
Originated three years prior year 23,080 18,693  
Originated four years prior year 17,021 12,239  
Prior 59,783 58,849  
Revolving 0 0  
Total 163,955 160,695  
Total, Charge-Offs 0 0  
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 42,414 32,297  
Originated prior year-2023 30,795 44,526  
Originated two years prior year-2022 67,747 42,582  
Originated three years prior year 40,771 17,798  
Originated four years prior year 15,922 28,947  
Prior 115,741 98,951  
Revolving 0 0  
Total 313,390 265,101  
Total, Charge-Offs 0 0  
Commercial Portfolio Segment [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 5,652 5,442  
Total 5,652 5,442  
Commercial Portfolio Segment [Member] | Real Estate Secured By 1st Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 9,890 14,697  
Originated prior year-2023 16,641 28,785  
Originated two years prior year-2022 26,749 21,027  
Originated three years prior year 19,123 9,794  
Originated four years prior year 8,494 8,864  
Prior 24,882 20,405  
Revolving 0 0  
Total 105,779 103,572  
Commercial Portfolio Segment [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 543 558  
Originated prior year-2023 533 604  
Originated two years prior year-2022 593 542  
Originated three years prior year 176 580  
Originated four years prior year 538 40  
Prior 855 1,121  
Revolving 0 0  
Total 3,238 3,445  
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 1,914 707  
Originated prior year-2023 1,141 0  
Originated two years prior year-2022 0 4,247  
Originated three years prior year 3,749 18  
Originated four years prior year 8 5,444  
Prior 10,871 8,292  
Revolving 0 0  
Total 17,683 18,708  
Commercial Portfolio Segment [Member] | Pass [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 172,029 140,159  
Originated prior year-2023 124,771 190,071  
Originated two years prior year-2022 170,338 141,803  
Originated three years prior year 127,758 66,038  
Originated four years prior year 52,400 73,569  
Prior 251,860 219,870  
Revolving 91,746 76,158  
Total 990,902 907,668  
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial and Industrial [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 24,130 20,473  
Originated prior year-2023 11,476 14,439  
Originated two years prior year-2022 10,818 8,574  
Originated three years prior year 4,796 5,913  
Originated four years prior year 2,513 8,626  
Prior 8,138 7,175  
Revolving 86,094 70,716  
Total 147,965 135,916  
Commercial Portfolio Segment [Member] | Pass [Member] | Construction and Land Development [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 53,278 46,171  
Originated prior year-2023 33,332 43,472  
Originated two years prior year-2022 11,404 14,630  
Originated three years prior year 13,998 3,434  
Originated four years prior year 3,268 4,028  
Prior 8,056 4,395  
Revolving 0 0  
Total 123,336 116,130  
Commercial Portfolio Segment [Member] | Pass [Member] | Real Estate Secured by Multi-Family Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 26,080 10,826  
Originated prior year-2023 17,395 28,858  
Originated two years prior year-2022 27,638 23,430  
Originated three years prior year 22,402 9,808  
Originated four years prior year 9,210 5,804  
Prior 31,488 27,609  
Revolving 0 0  
Total 134,213 106,335  
Commercial Portfolio Segment [Member] | Pass [Member] | Real Estate Secured By Owner-Occupied Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 14,110 14,430  
Originated prior year-2023 14,121 29,576  
Originated two years prior year-2022 25,747 26,908  
Originated three years prior year 23,080 18,693  
Originated four years prior year 14,890 12,239  
Prior 53,062 53,030  
Revolving 0 0  
Total 145,010 154,876  
Commercial Portfolio Segment [Member] | Pass [Member] | Real Estate Secured by Other Commercial Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 42,414 32,297  
Originated prior year-2023 30,132 44,526  
Originated two years prior year-2022 67,747 42,582  
Originated three years prior year 40,771 17,798  
Originated four years prior year 13,624 28,947  
Prior 115,015 98,173  
Revolving 0 0  
Total 309,703 264,323  
Commercial Portfolio Segment [Member] | Pass [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 5,652 5,442  
Total 5,652 5,442  
Commercial Portfolio Segment [Member] | Pass [Member] | Real Estate Secured By 1st Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 9,890 14,697  
Originated prior year-2023 16,641 28,596  
Originated two years prior year-2022 26,410 20,890  
Originated three years prior year 18,786 9,794  
Originated four years prior year 8,349 8,441  
Prior 24,375 20,262  
Revolving 0 0  
Total 104,451 102,680  
Commercial Portfolio Segment [Member] | Pass [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 213 558  
Originated prior year-2023 533 604  
Originated two years prior year-2022 574 542  
Originated three years prior year 176 580  
Originated four years prior year 538 40  
Prior 855 934  
Revolving 0 0  
Total 2,889 3,258  
Commercial Portfolio Segment [Member] | Pass [Member] | State and Political Subdivisions [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 1,914 707  
Originated prior year-2023 1,141 0  
Originated two years prior year-2022 0 4,247  
Originated three years prior year 3,749 18  
Originated four years prior year 8 5,444  
Prior 10,871 8,292  
Revolving 0 0  
Total 17,683 18,708  
Commercial Portfolio Segment [Member] | Special Mention [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 656 0  
Originated prior year-2023 392 0  
Originated two years prior year-2022 0 137  
Originated three years prior year 132 0  
Originated four years prior year 0 0  
Prior 869 0  
Revolving 2,557 0  
Total 4,606 137  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial and Industrial [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 392 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 2,557 0  
Total 2,949 0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Construction and Land Development [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024   0  
Originated prior year-2023   0  
Originated two years prior year-2022   0  
Originated three years prior year   0  
Originated four years prior year   0  
Prior   0  
Revolving   0  
Total   0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Real Estate Secured by Multi-Family Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Real Estate Secured By Owner-Occupied Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 656 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 869 0  
Revolving 0 0  
Total 1,525 0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Real Estate Secured by Other Commercial Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Real Estate Secured By 1st Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 137  
Originated three years prior year 132 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 132 137  
Commercial Portfolio Segment [Member] | Special Mention [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Special Mention [Member] | State and Political Subdivisions [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Substandard [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 1,075 0  
Originated prior year-2023 14,810 189  
Originated two years prior year-2022 2,023 0  
Originated three years prior year 318 0  
Originated four years prior year 4,658 1,127  
Prior 10,572 9,124  
Revolving 845 1,170  
Total 34,301 11,610  
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial and Industrial [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 555 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 113 0  
Originated four years prior year 84 0  
Prior 676 0  
Revolving 845 1,170  
Total 2,273 1,170  
Commercial Portfolio Segment [Member] | Substandard [Member] | Construction and Land Development [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 6,094 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 34 43  
Revolving 0 0  
Total 6,128 43  
Commercial Portfolio Segment [Member] | Substandard [Member] | Real Estate Secured by Multi-Family Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 471 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 704  
Prior 2,777 2,154  
Revolving 0 0  
Total 3,248 2,858  
Commercial Portfolio Segment [Member] | Substandard [Member] | Real Estate Secured By Owner-Occupied Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 745 0  
Originated prior year-2023 7,027 0  
Originated two years prior year-2022 1,665    
Originated three years prior year 0 0  
Originated four years prior year 2,131 0  
Prior 5,852 5,819  
Revolving 0 0  
Total 17,420 5,819  
Commercial Portfolio Segment [Member] | Substandard [Member] | Real Estate Secured by Other Commercial Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 663 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 2,298 0  
Prior 726 778  
Revolving 0 0  
Total 3,687 778  
Commercial Portfolio Segment [Member] | Substandard [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Substandard [Member] | Real Estate Secured By 1st Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 189  
Originated two years prior year-2022 339 0  
Originated three years prior year 205 0  
Originated four years prior year 145 423  
Prior 507 143  
Revolving 0 0  
Total 1,196 755  
Commercial Portfolio Segment [Member] | Substandard [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 330 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 19 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 187  
Revolving 0 0  
Total 349 187  
Commercial Portfolio Segment [Member] | Substandard [Member] | State and Political Subdivisions [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Commercial and Industrial [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Construction and Land Development [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Real Estate Secured by Multi-Family Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Real Estate Secured By Owner-Occupied Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Real Estate Secured by Other Commercial Properties [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Real Estate Secured By 1st Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Business [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial Portfolio Segment [Member] | Doubtful [Member] | State and Political Subdivisions [Member]      
Financing Receivable Recorded Investment [Line Items]      
Originated current year-2024 0 0  
Originated prior year-2023 0 0  
Originated two years prior year-2022 0 0  
Originated three years prior year 0 0  
Originated four years prior year 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
State and Political Subdivisions Portfolio Segment [Member]      
Financing Receivable Recorded Investment [Line Items]      
Total, Charge-Offs $ 0 $ 0 $ 0
v3.25.1
Note 5 - Retail Loans by Credit Quality (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable Recorded Investment [Line Items]    
Total $ 1,216,551,000 $ 1,093,771,000
Retail Portfolio Segment [Member]    
Financing Receivable Recorded Investment [Line Items]    
Revolving 3,394,000 4,534,000
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 12,129,000 12,641,000
Originated prior year-2023 12,404,000 14,635,000
Originated two years prior year-2022 13,901,000 30,495,000
Originated three years prior year 28,707,000 20,304,000
Originated four years prior year 18,871,000 4,526,000
Prior 28,411,000 26,305,000
Revolving 0 0
Total 114,423,000 108,906,000
Retail Portfolio Segment [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 48,231,000 34,231,000
Total 48,231,000 34,231,000
Retail Portfolio Segment [Member] | Real Estate Secured By First Lein on 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 599,000 2,591,000
Originated prior year-2023 721,000 1,613,000
Originated two years prior year-2022 1,058,000 2,933,000
Originated three years prior year 1,027,000 1,030,000
Originated four years prior year 813,000 931,000
Prior 2,343,000 2,883,000
Revolving 0 0
Total 6,561,000 11,981,000
Retail Portfolio Segment [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 5,241,000 6,438,000
Originated prior year-2023 3,317,000 1,632,000
Originated two years prior year-2022 850,000 2,184,000
Originated three years prior year 958,000 1,180,000
Originated four years prior year 922,000 676,000
Prior 2,804,000 3,515,000
Revolving 0 0
Total 14,092,000 15,625,000
Retail Portfolio Segment [Member] | Student Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 1,444,000 1,662,000
Revolving 0 0
Total 1,444,000 1,662,000
Retail Portfolio Segment [Member] | Overdrafts [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 209,000 194,000
Total 209,000 194,000
Retail Portfolio Segment [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 785,000 793,000
Originated prior year-2023 487,000 290,000
Originated two years prior year-2022 127,000 245,000
Originated three years prior year 104,000 89,000
Originated four years prior year 16,000 73,000
Prior 61,000 78,000
Revolving 202,000 189,000
Total 1,782,000 1,757,000
Retail Portfolio Segment [Member] | Total Retail Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 18,754,000 22,463,000
Originated prior year-2023 16,929,000 18,170,000
Originated two years prior year-2022 15,936,000 35,857,000
Originated three years prior year 30,796,000 22,603,000
Originated four years prior year 20,622,000 6,206,000
Prior 35,063,000 34,443,000
Revolving 48,642,000 34,614,000
Total 186,742,000 174,356,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 12,129,000 12,641,000
Originated prior year-2023 12,404,000 14,635,000
Originated two years prior year-2022 13,901,000 30,495,000
Originated three years prior year 28,707,000 20,304,000
Originated four years prior year 18,871,000 4,526,000
Prior 27,643,000 25,500,000
Revolving 0 0
Total 113,655,000 108,101,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 47,918,000 33,936,000
Total 47,918,000 33,936,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Secured By First Lein on 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 599,000 2,591,000
Originated prior year-2023 721,000 1,613,000
Originated two years prior year-2022 968,000 2,933,000
Originated three years prior year 1,027,000 1,030,000
Originated four years prior year 813,000 931,000
Prior 2,315,000 2,767,000
Revolving 0 0
Total 6,443,000 11,865,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 5,241,000 6,438,000
Originated prior year-2023 3,317,000 1,613,000
Originated two years prior year-2022 833,000 2,184,000
Originated three years prior year 958,000 1,180,000
Originated four years prior year 922,000 676,000
Prior 2,804,000 3,515,000
Revolving 0 0
Total 14,075,000 15,606,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Student Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 1,433,000 1,645,000
Revolving 0 0
Total 1,433,000 1,645,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Overdrafts [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 209,000 194,000
Total 209,000 194,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 785,000 793,000
Originated prior year-2023 487,000 290,000
Originated two years prior year-2022 127,000 245,000
Originated three years prior year 104,000 89,000
Originated four years prior year 16,000 73,000
Prior 32,000 41,000
Revolving 202,000 189,000
Total 1,753,000 1,720,000
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Total Retail Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 18,754,000 22,463,000
Originated prior year-2023 16,929,000 18,151,000
Originated two years prior year-2022 15,829,000 35,857,000
Originated three years prior year 30,796,000 22,603,000
Originated four years prior year 20,622,000 6,206,000
Prior 34,227,000 33,468,000
Revolving 48,329,000 34,319,000
Total 185,486,000 173,067,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 768,000 805,000
Revolving 0 0
Total 768,000 805,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Construction - Individual [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 0 0
Total 0 0
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 313,000 295,000
Total 313,000 295,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Secured By First Lein on 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 90,000 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 28,000 116,000
Revolving 0 0
Total 118,000 116,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Secured By Junior Lien on 1-4 Family Properties-Personal [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 19,000
Originated two years prior year-2022 17,000 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 0 0
Total 17,000 19,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Student Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 11,000 17,000
Revolving 0 0
Total 11,000 17,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 0
Originated two years prior year-2022 0 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 29,000 37,000
Revolving 0 0
Total 29,000 37,000
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Total Retail Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 0 0
Originated prior year-2023 0 19,000
Originated two years prior year-2022 107,000 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 836,000 975,000
Revolving 313,000 295,000
Total $ 1,256,000 $ 1,289,000
v3.25.1
Note 5 - Past Due Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans $ 1,216,551 $ 1,093,771
Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 738 10,771
Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 651 498
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 798 634
Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 2,187 11,903
Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,214,364 1,081,868
State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17,683 18,708
State and Political Subdivisions [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
State and Political Subdivisions [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
State and Political Subdivisions [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
State and Political Subdivisions [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,029,809 919,415
Commercial Portfolio Segment [Member] | Commercial and industrial    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 153,187 137,086
Commercial Portfolio Segment [Member] | Commercial and industrial | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 77
Commercial Portfolio Segment [Member] | Commercial and industrial | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Commercial and industrial | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Commercial and industrial | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 77
Commercial Portfolio Segment [Member] | Commercial and industrial | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 153,187 137,009
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 129,464 116,173
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 129,464 116,173
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 137,461 109,193
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 137,461 109,193
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 163,955 160,695
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 150 186
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 169 0
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 319 186
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 163,636 160,509
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 313,390 265,101
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 9,675
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 9,675
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 313,390 255,426
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 5,652 5,442
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 5,652 5,442
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 105,779 103,572
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 323
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 323
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 105,779 103,249
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 3,238 3,445
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 3,238 3,445
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17,683 18,708
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17,683 18,708
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 114,423 108,906
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 114 433
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 440 381
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 571 481
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,125 1,295
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 113,298 107,611
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 48,231 34,231
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 235 56
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 42 0
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 119 129
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 396 185
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 47,835 34,046
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 6,561 11,981
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 126 0
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 96
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 91 0
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 217 96
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 6,344 11,885
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 14,092 15,625
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 95 0
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17 18
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 112 18
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 13,980 15,607
Retail Portfolio Segment [Member] | Student Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,444 1,662
Retail Portfolio Segment [Member] | Student Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Student Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 11
Retail Portfolio Segment [Member] | Student Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 6
Retail Portfolio Segment [Member] | Student Loans [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 17
Retail Portfolio Segment [Member] | Student Loans [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,444 1,645
Retail Portfolio Segment [Member] | Overdrafts [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 209 194
Retail Portfolio Segment [Member] | Overdrafts [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 13 21
Retail Portfolio Segment [Member] | Overdrafts [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 2
Retail Portfolio Segment [Member] | Overdrafts [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Overdrafts [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 13 23
Retail Portfolio Segment [Member] | Overdrafts [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 196 171
Retail Portfolio Segment [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,782 1,757
Retail Portfolio Segment [Member] | Other Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 5 0
Retail Portfolio Segment [Member] | Other Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 8
Retail Portfolio Segment [Member] | Other Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Other Consumer [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 5 8
Retail Portfolio Segment [Member] | Other Consumer [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans $ 1,777 $ 1,749
v3.25.1
Note 5 - Non-accrual Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable $ 0 $ 0
Loans receivable 1,975 1,940
Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 1,618 1,468
Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 357 472
Commercial Portfolio Segment [Member] | Commercial and industrial    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 27 311
Commercial Portfolio Segment [Member] | Commercial and industrial | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 278
Commercial Portfolio Segment [Member] | Commercial and industrial | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 27 33
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Owner-Occupied Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 157 175
Commercial Portfolio Segment [Member] | Real Estate Secured by Owner-Occupied Properties [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 157 175
Commercial Portfolio Segment [Member] | Real Estate Secured by Owner-Occupied Properties [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 205 0
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 205 0
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 330 165
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 330 165
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 0 0
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 768 805
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 768 805
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 313 295
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 313 21
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 274
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 118 116
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 118 116
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 17 19
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 17 19
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Retail Portfolio Segment [Member] | Student Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 11 17
Retail Portfolio Segment [Member] | Student Loans [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 11 17
Retail Portfolio Segment [Member] | Student Loans [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Retail Portfolio Segment [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 29 37
Retail Portfolio Segment [Member] | Other Consumer [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 29 37
Retail Portfolio Segment [Member] | Other Consumer [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable $ 0 $ 0
v3.25.1
Note 5 - Collateral-dependent Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Commercial Portfolio Segment [Member] | Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured $ 0 $ 0
Other 0 278
Deficiency in Collateral 27 33
Total Collateral Dependent Nonaccrual Loans 27 311
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 0 0
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 157 175
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 157 175
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 0 0
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 0 0
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 205 0
Other 0  
Deficiency in Collateral 0  
Total Collateral Dependent Nonaccrual Loans 205 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 330 165
Total Collateral Dependent Nonaccrual Loans 330 165
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 0 0
Retail Portfolio Segment [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 1,578 1,300
Other 29 315
Deficiency in Collateral 357 308
Total Collateral Dependent Nonaccrual Loans 1,964 1,923
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 768 805
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 768 805
Retail Portfolio Segment [Member] | Revolving home equity secured by 1-4 family properties-personal    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 313 185
Other 0 0
Deficiency in Collateral 0 110
Total Collateral Dependent Nonaccrual Loans 313 295
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 118 116
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 118 116
Retail Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-personal    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 17 19
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 17 19
Retail Portfolio Segment [Member] | Other Consumer [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 29 37
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans $ 29 $ 37
v3.25.1
Note 5 - Allowance for Credit Losses on Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period $ 8,852 $ 10,531 $ 11,184
Provision for (credit to) loan losses (49) (828) (850)
Charge-offs (199) (475) (196)
Recoveries 140 713 393
Allowance for loan losses, end of period 8,744 8,852 10,531
Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   10,531  
Allowance for loan losses, end of period     10,531
Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (1,089)  
Allowance for loan losses, end of period     (1,089)
Commercial And Industrial [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Charge-offs (23) (313)  
Student Loans [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Charge-offs (52) (57)  
Overdrafts [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Charge-offs (101) (91)  
Other Consumer [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Charge-offs (23) (14)  
Commercial Portfolio Segment [Member] | Commercial And Industrial [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 823 1,316 3,368
Provision for (credit to) loan losses (23) (771) (2,320)
Charge-offs (23) (313) (38)
Recoveries 52 661 306
Allowance for loan losses, end of period 829 823 1,316
Commercial Portfolio Segment [Member] | Commercial And Industrial [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   1,316  
Allowance for loan losses, end of period     1,316
Commercial Portfolio Segment [Member] | Commercial And Industrial [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (70)  
Allowance for loan losses, end of period     (70)
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 1,252    
Provision for (credit to) loan losses 84 507  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 1,336 1,252  
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   755  
Allowance for loan losses, end of period     755
Commercial Portfolio Segment [Member] | Construction and Land Development [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (10)  
Allowance for loan losses, end of period     (10)
Commercial Portfolio Segment [Member] | Construction Loans [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   755 363
Provision for (credit to) loan losses     392
Charge-offs     0
Recoveries     0
Allowance for loan losses, end of period     755
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 1,735    
Provision for (credit to) loan losses 277 56  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 2,012 1,735  
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   995  
Allowance for loan losses, end of period     995
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   684  
Allowance for loan losses, end of period     684
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 1,001    
Provision for (credit to) loan losses (148) (174)  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 853 1,001  
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   1,549  
Allowance for loan losses, end of period     1,549
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (374)  
Allowance for loan losses, end of period     (374)
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 1,167    
Provision for (credit to) loan losses (25) (163)  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 1,142 1,167  
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   2,458  
Allowance for loan losses, end of period     2,458
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (1,128)  
Allowance for loan losses, end of period     (1,128)
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 27    
Provision for (credit to) loan losses (3) (5)  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 24 27  
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   25  
Allowance for loan losses, end of period     25
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   7  
Allowance for loan losses, end of period     7
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 1,507    
Provision for (credit to) loan losses (279) (203)  
Charge-offs 0 0  
Recoveries 10 10  
Allowance for loan losses, end of period 1,238 1,507  
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   1,210  
Allowance for loan losses, end of period     1,210
Commercial Portfolio Segment [Member] | Real estate secured by 1st lein on 1-4 family properties-business | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   490  
Allowance for loan losses, end of period     490
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 14    
Provision for (credit to) loan losses 325 (2)  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 339 14  
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   30  
Allowance for loan losses, end of period     30
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (14)  
Allowance for loan losses, end of period     (14)
Commercial Portfolio Segment [Member] | Secured by Commercial Real Estate [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   5,002 4,280
Provision for (credit to) loan losses     722
Charge-offs     0
Recoveries     0
Allowance for loan losses, end of period     5,002
Commercial Portfolio Segment [Member] | Secured by Residential Real Estate [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   1,240 1,035
Provision for (credit to) loan losses     160
Charge-offs     0
Recoveries     45
Allowance for loan losses, end of period     1,240
State and Political Subdivisions Portfolio Segment [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 55 94 69
Provision for (credit to) loan losses (21) (19) 25
Charge-offs 0 0 0
Recoveries 0 0 0
Allowance for loan losses, end of period 34 55 94
State and Political Subdivisions Portfolio Segment [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   94  
Allowance for loan losses, end of period     94
State and Political Subdivisions Portfolio Segment [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (20)  
Allowance for loan losses, end of period     (20)
Retail Portfolio Segment [Member] | Consumer Loans [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   502 542
Provision for (credit to) loan losses     82
Charge-offs     (158)
Recoveries     36
Allowance for loan losses, end of period     502
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 427 683 646
Provision for (credit to) loan losses (108) (59) 37
Charge-offs 0 0 0
Recoveries 4 0 0
Allowance for loan losses, end of period 323 427 683
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   682  
Allowance for loan losses, end of period     682
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (196)  
Allowance for loan losses, end of period     (196)
Retail Portfolio Segment [Member] | Construction - Individual [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 0    
Provision for (credit to) loan losses   (1)  
Charge-offs   0  
Recoveries   0  
Allowance for loan losses, end of period   0  
Retail Portfolio Segment [Member] | Construction - Individual [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   1  
Allowance for loan losses, end of period     1
Retail Portfolio Segment [Member] | Construction - Individual [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   0  
Allowance for loan losses, end of period     0
Retail Portfolio Segment [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 138    
Provision for (credit to) loan losses 5 (154)  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 143 138  
Retail Portfolio Segment [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   299  
Allowance for loan losses, end of period     299
Retail Portfolio Segment [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (7)  
Allowance for loan losses, end of period     (7)
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 182    
Provision for (credit to) loan losses (151) 110  
Charge-offs 0 0  
Recoveries 0 0  
Allowance for loan losses, end of period 31 182  
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   57  
Allowance for loan losses, end of period     57
Retail Portfolio Segment [Member] | Real Estate Secured By 1st Lein on 1-4 Family Properties-Personal [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   15  
Allowance for loan losses, end of period     15
Retail Portfolio Segment [Member] | Real Estate Secured By Junior Lein On 1-4 Family Properties-Personal [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 105    
Provision for (credit to) loan losses (28) 15  
Charge-offs 0 0  
Recoveries 0 6  
Allowance for loan losses, end of period 77 105  
Retail Portfolio Segment [Member] | Real Estate Secured By Junior Lein On 1-4 Family Properties-Personal [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   55  
Allowance for loan losses, end of period     55
Retail Portfolio Segment [Member] | Real Estate Secured By Junior Lein On 1-4 Family Properties-Personal [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   29  
Allowance for loan losses, end of period     29
Retail Portfolio Segment [Member] | Student Loans [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 369    
Provision for (credit to) loan losses (37) (48)  
Charge-offs (52) (57)  
Recoveries 30 8  
Allowance for loan losses, end of period 310 369  
Retail Portfolio Segment [Member] | Student Loans [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   454  
Allowance for loan losses, end of period     454
Retail Portfolio Segment [Member] | Student Loans [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   12  
Allowance for loan losses, end of period     12
Retail Portfolio Segment [Member] | Overdrafts [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 16    
Provision for (credit to) loan losses 69 70  
Charge-offs (101) (91)  
Recoveries 34 26  
Allowance for loan losses, end of period 18 16  
Retail Portfolio Segment [Member] | Overdrafts [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   8  
Allowance for loan losses, end of period     8
Retail Portfolio Segment [Member] | Overdrafts [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   3  
Allowance for loan losses, end of period     3
Retail Portfolio Segment [Member] | Other Consumer [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period 34    
Provision for (credit to) loan losses 14 13  
Charge-offs (23) (14)  
Recoveries 10 2  
Allowance for loan losses, end of period 35 34  
Retail Portfolio Segment [Member] | Other Consumer [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   41  
Allowance for loan losses, end of period     41
Retail Portfolio Segment [Member] | Other Consumer [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   (8)  
Allowance for loan losses, end of period     (8)
Retail Portfolio Segment [Member] | Home Equity Loans and Lines [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   437 376
Provision for (credit to) loan losses     55
Charge-offs     0
Recoveries     6
Allowance for loan losses, end of period     437
Unallocated Financing Receivables [Member]      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period $ 0 502 505
Provision for (credit to) loan losses   0 (3)
Charge-offs     0
Recoveries     0
Allowance for loan losses, end of period   0 502
Unallocated Financing Receivables [Member] | Prior to adoption of ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   502  
Allowance for loan losses, end of period     502
Unallocated Financing Receivables [Member] | Impact of adopting ASC 326      
Financing Receivable Allowance For Credit Losses [Line Items]      
Allowance for loan losses, beginning of period   $ (502)  
Allowance for loan losses, end of period     $ (502)
v3.25.1
Note 5 - Specific Reserve for Loans Modified as TDR's (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Receivables [Abstract]    
Unpaid principal balance $ 1,000,000 $ 0
v3.25.1
Note 5 - Payment Modification to Interest (Details) - Commercial Portfolio Segment [Member]
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Financing Receivable, Modified [Line Items]  
Amortized Cost Basis $ 1,000
Real Estate Secured By Owner-Occupied Properties [Member]  
Financing Receivable, Modified [Line Items]  
Amortized Cost Basis $ 1,000
Percentage of Total Loan Class 0.61%
v3.25.1
Note 6 - Premises and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Book value $ 40,017 $ 36,926
Accumulated depreciation and amortization (22,762) (21,974)
Net book value 17,255 14,952
Land and Building [Member]    
Property, Plant and Equipment [Line Items]    
Book value 18,333 16,102
Furniture and Equipment Member]    
Property, Plant and Equipment [Line Items]    
Book value 15,429 14,470
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Book value 3,637 3,632
Right-of-Use Asset [Member]    
Property, Plant and Equipment [Line Items]    
Book value $ 2,618 $ 2,722
v3.25.1
Note 6 - Premises and Equipment (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Abstract]      
Depreciation $ 1,095,000 $ 1,714,000 $ 1,115,000
Operating liabilities $ 457,000    
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other liabilities    
Right-of-use assets $ 457,000    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Premises and equipment, net    
v3.25.1
Note 6 - Summary of Quantitative Attributes of Operating Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lease cost      
Operating lease cost $ 631 $ 618  
Total lease cost 631 618  
Cash paid for amounts included in the measurement of lease liabilities:      
Cashflows from operating leases 633 626 $ 620
Right-of-use assets obtained in exchange for new operating lease liabilities $ 457 $ 369 $ 43
Weighted average remaining lease terms:      
Operating leases 12 years 1 month 6 days 13 years 1 month 6 days  
Weighted average discount rates:      
Operating leases 3.09% 2.90%  
v3.25.1
Note 7 - Intangible Assets and Loan Servicing (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Intangible Assets and Loan Servicing Details [Line Items]    
Servicing asset loans unpaid principal balance $ 63,411,000 $ 68,349,000
Servicing asset at fair value, amount $ 556,000 $ 585,000
Minimum [Member]    
Intangible Assets and Loan Servicing Details [Line Items]    
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, discount rate 12.00% 12.00%
Minimum [Member] | Measurement Input, Prepayment Rate    
Intangible Assets and Loan Servicing Details [Line Items]    
Prepayment speeds 90.00% 104.00%
Maximum [Member]    
Intangible Assets and Loan Servicing Details [Line Items]    
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, discount rate 12.50% 12.50%
Maximum [Member] | Measurement Input, Prepayment Rate    
Intangible Assets and Loan Servicing Details [Line Items]    
Prepayment speeds 185.00% 214.00%
Other Assets [Member]    
Intangible Assets and Loan Servicing Details [Line Items]    
Servicing asset at fair value, amount $ 556,000 $ 583,000
v3.25.1
Note 7 - Activity of Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Transfers and Servicing of Financial Assets [Abstract]      
Balance at beginning of year $ 415 $ 469 $ 538
Mortgage servicing rights capitalized 13 7 2
Mortgage servicing rights amortized (50) (61) (80)
Fair market value adjustments 0 0 9
Balance at end of year $ 378 $ 415 $ 469
v3.25.1
Note 7 - Annual Estimated Amortization Expense of Intangible Assets (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
2025 $ 56
2026 49
2027 43
2028 37
2029 $ 33
v3.25.1
Note 8 - Time Deposits (Details Textual) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Time Deposit [Abstract]    
Total time deposits $ 381,458,000 $ 314,981,000
Time greater than $250 $ 46,681,000 $ 43,337,000
v3.25.1
Note 8 - Time Deposits - Schedule of Maturities of Time Deposits (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Maturities of Time Deposits [Abstract]    
2025 $ 350,836,000  
2026 19,034,000  
2027 7,826,000  
2028 2,402,000  
2029 1,360,000  
Total time deposits $ 381,458,000 $ 314,981,000
v3.25.1
Note 9 - Schedule of Short-Term Borrowings (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Short-term Borrowings [Line Items]    
Balance $ 53,844 $ 94,094
Securities Sold under Agreements to Repurchase [Member]    
Short-term Borrowings [Line Items]    
Balance [1] 18,636 44,094
Maximum indebtedness at any month end [1] 55,088 69,343
Daily average indebtedness outstanding [1] $ 38,455 $ 53,154
Average rate paid for the year [1] 1.83% 1.39%
Average rate on period-end borrowings [1] 2.46% 4.59%
Other Short Term Debt [Member]    
Short-term Borrowings [Line Items]    
Balance [2] $ 35,208 $ 50,000
Maximum indebtedness at any month end [2] 50,000 136,799
Daily average indebtedness outstanding [2] $ 10,071 $ 55,708
Average rate paid for the year [2] 4.41% 4.55%
Average rate on period-end borrowings [2] 4.81% 4.39%
[1] Securities sold under agreements to repurchase mature overnight. The repurchase agreements were collateralized by U.S. Government mortgage-backed securities and CMOs with an amortized cost of $30,729,000 and $72,012,000 and a fair value of $26,501,000 and $61,650,000 and at December 31, 2024 and 2023 respectively. These securities are held in safekeeping at the Federal Reserve Bank of Boston.
[2] Other short-term borrowings include Federal funds purchased, overnight and short term borrowings from the FHLB, and short-term FRB borrowings.
v3.25.1
Note 9 - Short-Term Borrowings (Details Textual)
 3 Months Ended
Mar. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
Federalfund
Dec. 31, 2023
USD ($)
Short-term Borrowings [Line Items]      
Available-for-sale Securities Pledged as Collateral   $ 241,586,000 $ 289,935,000
Federal Funds Unsecured Number of Lines | Federalfund   4  
Borrowed fund interest rate 4.39%    
Federal Funds Unsecured Lines   $ 86,000,000  
Borrowed fund from FRB under bank term funding program $ 50,000,000    
Pre-payment penalties $ 0    
Federal Funds Purchased   0 0
Securities Sold under Agreements to Repurchase [Member]      
Short-term Borrowings [Line Items]      
Available for Sale Securities Pledged as Collateral Amortized Cost   30,729,000 72,012,000
Available-for-sale Securities Pledged as Collateral   $ 26,501,000 $ 61,650,000
v3.25.1
Note 10 - Long-Term Debt (Details Textual) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Long Term Debt [Line Items]    
FHLB stock $ 3,510,000 $ 1,718,000
Maximum borrowing capacity with FHLB 442,339,000  
Long-term advances outstanding with FHLB 30,000,000 20,000,000
Borrowings outstanding with FHLB 30,000,000  
Other Short Term Debt [Member]    
Long Term Debt [Line Items]    
Borrowings outstanding with FHLB 35,208,000 0
Letter of Credit [Member]    
Long Term Debt [Line Items]    
Borrowings outstanding with FHLB $ 283,000 $ 283,000
v3.25.1
Note 10 - Long-term Advances at FHLB Mature (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Advance from Federal Home Loan Bank, Fiscal Year Maturity [Abstract]  
2025 $ 30,000
Total long-term debt $ 30,000
2025 4.75%
Total long-term debt 4.75%
v3.25.1
Note 11 - Subordinated Debt (Details Textual) - USD ($)
Aug. 30, 2024
Mar. 31, 2023
Debt Instrument [Line Items]    
Interest fixed annual rate   4.39%
Subordinated Debt [Member]    
Debt Instrument [Line Items]    
Issued of aggregate principal amount $ 40,000,000  
Debt instrument basis point and interest rate 545.00%  
Debt instrument maturity date Sep. 01, 2034  
Interest fixed annual rate 8.875%  
Debt instrument, frequency of periodic payment semi-annually  
Unamortized origination costs $ 932,000  
Subordinated Debt [Member] | Fixed to Floating Rate [Member]    
Debt Instrument [Line Items]    
Debt instrument basis point and interest rate 8.875%  
v3.25.1
Note 12 - Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Provision For Income Taxes [Abstract]                      
Current Federal income taxes                 $ 2,739 $ 2,109 $ 3,543
Current state income taxes                 80 83 180
Deferred Federal income taxes (benefits)                 93 71 36
Deferred state income taxes (benefits)                 (169) (15) (102)
Valuation adjustment                 168 (4) 8
Net provision $ 743 $ 961 $ 544 $ 663 $ 302 $ 494 $ 325 $ 1,123 $ 2,911 $ 2,244 $ 3,665
v3.25.1
Note 12 - Deferred Tax Assets and Liabilities (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets    
Allowance for credit losses on loans $ 1,882,000 $ 1,859,000
Net unrealized holding losses on investment securities available-for-sale 18,226,000 17,692,000
Net unrealized holding losses on investment rate swaps 0 367,000
Non-accrual interest income 200,000 170,000
Leasing liability 630,000 637,000
Deferred revenue 113,000 0
Incurred but not reported medical expense 34,000 27,000
Bonus 192,000 88,000
State net operating loss carryforward 171,000 30,000
Other 106,000 61,000
Total deferred tax assets 21,554,000 20,931,000
Deferred tax liabilities    
Deferred loan income 531,000 487,000
Depreciation 286,000 215,000
Mortgage servicing rights 81,000 87,000
Net unrealized holding losses on investment rate swaps 1,040,000 0
Fair value adjustment on equity securities 0 61,000
Fair value remeasurements on interest rate swap 22,000 12,000
Prepaid expenses 262,000 203,000
Right of use asset 564,000 572,000
Subordinated debt costs 263,000 0
Other 8,000 0
Total deferred tax liabilities 3,057,000 1,637,000
Valuation allowance 172,000 4,000
Net deferred tax asset $ 18,325,000 $ 19,290,000
v3.25.1
Note 12 - Income Taxes (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Effective Income Tax Rate Reconciliation [Line Items]      
Deferred tax assets, valuation allowance $ 172,000 $ 4,000  
Effective income tax rate reconciliation, at federal statutory income tax rate, percent 21.00% 21.00% 21.00%
State      
Effective Income Tax Rate Reconciliation [Line Items]      
Deferred tax related to net operating loss $ 171,000    
Non-qualified Stock Option      
Effective Income Tax Rate Reconciliation [Line Items]      
Deferred tax assets, valuation allowance $ 1,000    
v3.25.1
Note 12 - Reconciliation of the Tax Provision (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation Of The Tax Provision [Abstract]                      
Provision at statutory rate                 $ 3,015 $ 2,463 $ 4,113
Tax-exempt interest and dividend income                 (194) (267) (504)
Bank-owned life insurance                 (68) (67) (75)
Stock-based compensation expense                 27 26 20
State income tax                 (47) 53 62
Other                 10 40 41
Income tax provision                 2,743 2,248 3,657
Valuation Adjustment                 168 (4) 8
Net provision $ 743 $ 961 $ 544 $ 663 $ 302 $ 494 $ 325 $ 1,123 $ 2,911 $ 2,244 $ 3,665
Provision at statutory rate                 21.00% 21.00% 21.00%
Tax-exempt interest and dividend income                 (1.40%) (2.30%) (2.60%)
Bank-owned life insurance                 (0.50%) (0.60%) (0.40%)
Stock-based compensation expense                 0.20% 0.20% 0.10%
State income tax                 (0.30%) 0.50% 0.30%
Other                 0.10% 0.40% 0.20%
Income tax provision                 19.10% 19.20% 18.70%
Valuation Adjustment                 1.20% (0.10%) 0.00%
Net provision                 20.30% 19.10% 18.70%
v3.25.1
Note 13 - Employee Benefit Plans (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Employee Benefit Plans [Line Items]      
Defined contribution plan, plan name QNB Bank Retirement Savings Plan    
Matching company contribution 3.00%    
Safe harbor non-elective contributions 5.00%    
Matching contribution, amount $ 400,000 $ 376,000 $ 345,000
Safe harbor contribution, amount 706,000 669,000 $ 606,000
Nonqualified defined contribution plan contribution amount 136,000 $ 108,000  
Nonqualified defined contribution plan liability $ 244,000    
Employee Stock Purchase Plan 2016 [Member]      
Employee Benefit Plans [Line Items]      
Discount rate on common stock 10.00%    
Employee Stock Purchase Plan 2021 [Member]      
Employee Benefit Plans [Line Items]      
Shares authorized for issuance 30,000    
Shares issued 18,792    
Expiration date May 31, 2026    
v3.25.1
Note 13 - Schedule of Shares Issued (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Employee Benefit Plans (Details) - Employee Stock Purchase Plan [Line Items]      
Shares 7,339 6,630 5,102
Price per share   $ 23.10  
Maximum [Member]      
Employee Benefit Plans (Details) - Employee Stock Purchase Plan [Line Items]      
Price per share $ 23.2   $ 29.48
Minimum [Member]      
Employee Benefit Plans (Details) - Employee Stock Purchase Plan [Line Items]      
Price per share $ 22   $ 24.21
v3.25.1
Note 14 - Stock Option Plan and Non-Employee Director Compensation Plan (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Allocated share-based compensation expense $ 87,000 $ 90,000 $ 70,000  
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized $ 193,000      
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition 27 months      
Share-based compensation arrangement by share-based payment award, options, grants in period, gross 40,000 35,000 29,350  
Share-based compensation arrangement by share-based payment award, options, forfeitures in period 24,275 22,600 34,150  
Share-based compensation arrangement by share-based payment award, options, outstanding, number 137,275 121,550 109,150 113,950
Non-Employee [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share-based compensation arrangement by share-based payment award, number of shares authorized 50,000      
Share-based compensation arrangement by share-based payment award, shares issued 4,800      
Stock repurchase program remaining number of shares 45,200      
Annual stock based compensation service fee $ 8,000,000      
Semi annual stock based compensation payment $ 4,000,000      
The 2015 Plan [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share-based compensation arrangement by share-based payment award, number of shares authorized 300,000      
Share-based compensation arrangement by share-based payment award, options, grants in period, gross 252,550      
Share-based compensation arrangement by share-based payment award, options, forfeitures in period 94,450      
Share-based compensation arrangement by share-based payment award, options, exercises in period 20,825      
Share-based compensation arrangement by share-based payment award, options, outstanding, number 137,275      
Director Compensation Plan [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Allocated share-based compensation expense $ 72,000 $ 80,000    
Employee Stock Option | The 2015 Plan [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share-based compensation arrangement by share-based payment award, period options can be exercised after grant date 6 months      
Employee Stock Option | The 2015 Plan [Member] | First Anniversary [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage 20.00%      
Employee Stock Option | The 2015 Plan [Member] | Maximum [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Share-based compensation arrangement by share-based payment award, expiration period 10 years      
v3.25.1
Note 14 - Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]      
Outstanding-Number of options (in shares) 121,550 109,150 113,950
Forfeited-Number of options (in shares) (24,275) (22,600) (34,150)
Granted-Number of options (in shares) 40,000 35,000 29,350
Outstanding ending-Number of options (in shares) 137,275 121,550 109,150
Exercisable-Number of options (in shares) 45,315    
Outstanding-Weighted average exercise price (in dollars per share) $ 34.29 $ 37.65 $ 37.58
Forfeited-Weighted average exercise price (in dollars per share) 37.69 43.15 37.07
Granted-Weighted average exercise price (in dollars per share) 23.4 29.51 37.26
Outstanding ending-Weighted average exercise price (in dollars per share) 30.51 $ 34.29 $ 37.65
Exercisable-Weighted average exercise price (in dollars per share) $ 33.74    
Outstanding ending-Weighted average remaining contractual term 5 years 2 months 26 days    
Exercisable-Weighted average remaining contractual term 1 year 9 months 3 days    
Outstanding ending-Aggregate intrinsic value $ 599    
Exercisable-Aggregate intrinsic value $ 58    
v3.25.1
Note 14 - Outstanding Stock Options (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Options outstanding 137,275 121,550 109,150 113,950
Exercise price, outstanding $ 30.51 $ 34.29 $ 37.65 $ 37.58
Remaining life 5 years 2 months 26 days      
Options exercisable 45,315      
Exercise price, exercisable $ 33.74      
Exercise Price $23.40 [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Options outstanding 40,000      
Exercise price, outstanding $ 23.4      
Remaining life 9 years 1 month 17 days      
Exercise Price $29.51 [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Options outstanding 34,200      
Exercise price, outstanding $ 29.51      
Remaining life 8 years 1 month 17 days      
Options exercisable 6,840      
Exercise price, exercisable $ 29.51      
Exercise Price $32.50 [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Options outstanding 19,325      
Exercise price, outstanding $ 32.5      
Remaining life 1 year 1 month 17 days      
Options exercisable 19,325      
Exercise price, exercisable $ 32.5      
Exercise Price $36.50 [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Options outstanding 19,150      
Exercise price, outstanding $ 36.5      
Remaining life 1 month 13 days      
Options exercisable 19,150      
Exercise price, exercisable $ 36.5      
Exercise Price $37.26 [Member]        
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]        
Options outstanding 24,600      
Exercise price, outstanding $ 37.26      
Remaining life 2 years 1 month 13 days      
v3.25.1
Note 14 - Schedule of Activity and Amounts Due from Directors, Principal Officers, and Their Related Interests (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Related Party Transactions [Abstract]  
Balance, December 31, 2021 $ 16,547
New loans 20,851
Repayments (18,306)
Balance, December 31, 2022 $ 19,092
v3.25.1
Note 14 - Schedule of Additional Information Regarding Transactions with Related Parties (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Related Party Transactions [Abstract]    
Commitments to extend credit $ 5,627 $ 5,763
Letters of credit 2,050 2,050
Deposits received $ 7,232 $ 6,023
v3.25.1
Note 15 - Financial Instrument Commitments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Commitments And Contingencies Disclosure [Line Items]    
Total financial instrument commitments $ 348,527 $ 397,774
Commitments to Extend Credit [Member]    
Commitments And Contingencies Disclosure [Line Items]    
Total financial instrument commitments 329,509 378,954
Standby Letters of Credit [Member]    
Commitments And Contingencies Disclosure [Line Items]    
Total financial instrument commitments $ 19,018 $ 18,820
v3.25.1
Note 16 - Commitments and Contingencies (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Commitments And Contingencies Disclosure [Line Items]      
Allowance for credit losses on unused commitments $ 87,000 $ 106,000  
Lessee leasing arrangements, operating leases, renewal term 5 years    
Operating lease cost $ 734,000 $ 723,000 $ 712,000
Maximum [Member]      
Commitments And Contingencies Disclosure [Line Items]      
Standby letters of credit expiration period 1 year    
Lessee leasing arrangements, operating leases, renewal term 10 years    
Minimum [Member]      
Commitments And Contingencies Disclosure [Line Items]      
Lessee leasing arrangements, operating leases, renewal term 5 years    
Standby Letters of Credit [Member]      
Commitments And Contingencies Disclosure [Line Items]      
Financial instrument commitments expire within one year $ 15,988,000    
v3.25.1
Note 15 - Summary of Maturities Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Operating Leases  
2025 $ 652
2026 504
2027 431
2028 351
2029 273
Thereafter 1,926
Total undiscounted cashflows 4,137
Total discount on cashflows (1,211)
Total lease liabilities $ 2,926
Operating Lease, Liability, Statement of Financial Position [Extensible List] Other liabilities
v3.25.1
Note 17 - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]      
Tax effect [1] $ 17,186 $ 18,059 $ 21,565
Accumulated other comprehensive (loss) income, net of tax (62,646) (67,937) (81,127)
Unrealized Net Holding Loss On Available-for-sale Securities [Member]      
Accumulated Other Comprehensive Income Loss [Line Items]      
Accumulated other comprehensive loss $ (79,832) $ (85,996) $ (102,692)
[1] At blended rates of federal and state tax rates of 21.5%, 21.0% and 21.0%
v3.25.1
Note 17 - Accumulated Other Comprehensive Income (Loss) (Details Textual)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Provision at statutory rate 21.50% 21.00% 21.00%
Reclassification out of Accumulated Other Comprehensive (Loss) Income      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Provision at statutory rate 21.00% 21.00% 21.00%
v3.25.1
Note 17 - Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]                      
Income before income taxes $ 3,794 $ 4,299 $ 3,009 $ 3,257 $ 1,436 $ 2,838 $ 2,212 $ 5,241 $ 14,359 $ 11,727 $ 19,586
Tax effect (743) (961) (544) (663) (302) (494) (325) (1,123) (2,911) (2,244) (3,665)
Net income $ 3,051 $ 3,338 $ 2,465 $ 2,594 $ 1,134 $ 2,344 $ 1,887 $ 4,118 11,448 9,483 15,921
Reclassification out of Accumulated Other Comprehensive (Loss) Income                      
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]                      
Realized net holding loss on available-for-sale securities                 (1,096) (2,058) (139)
Tax effect [1]                 230 432 29
Net income                 $ (866) $ (1,626) $ (110)
[1] At blended rates of federal and state tax rates of 21.0%, 21.0% and 21.0%
v3.25.1
Note 18 - Financial Assets Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale $ 546,559,000 $ 490,182,000
Equity securities 0 5,910,000
US Treasury Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 18,010,000 6,451,000
US Government Agencies Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 66,908,000 74,122,000
US States and Political Subdivisions Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 86,352,000 [1] 89,189,000 [2]
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 198,510,000 [1] 224,238,000 [2]
Collateralized Mortgage Obligations [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 161,646,000 89,973,000
Corporate Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale   6,209,000
Corporate Debt Securities and Money Market Funds [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 15,133,000  
Fair Value, Inputs, Level 1 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Equity securities 0 5,910,000
Fair Value, Inputs, Level 2 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 546,508,000 490,130,000
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 18,010,000 6,451,000
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 66,908,000 74,122,000
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 86,352,000 [1] 89,189,000 [2]
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 198,510,000 [1] 224,238,000 [2]
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 161,646,000 89,973,000
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale   6,157,000
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities and Money Market Funds [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 15,082,000  
Fair Value, Inputs, Level 3 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 51,000 52,000
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale   52,000
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities and Money Market Funds [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 51,000  
Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 546,559,000 496,092,000
Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements   5,910,000
Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 546,508,000 490,130,000
Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 51,000 52,000
Nonrecurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 1,000 171,000
Nonrecurring [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements   164,000
Nonrecurring [Member] | Mortgage Servicing Rights [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 1,000 7,000
Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 1,000 171,000
Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements   164,000
Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage Servicing Rights [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements $ 1,000 $ 7,000
[1] Includes derivatives designated as fair value hedging instruments.
[2] Includes derivatives designated as fair value hedging instruments.
v3.25.1
Note 18 - Quantitative Information about Assets Measured at Fair Value (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Measurement Input, Prepayment Speeds | Minimum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs 90.00% 104.00%
Measurement Input, Prepayment Speeds | Maximum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs 185.00% 214.00%
Nonrecurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements $ 1 $ 171
Nonrecurring [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements   164
Nonrecurring [Member] | Mortgage Servicing Rights [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements 1 7
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements 1 171
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements   164
Fair Value, Inputs, Level 3 [Member] | Nonrecurring [Member] | Mortgage Servicing Rights [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements $ 1 $ 7
Fair Value, Inputs, Level 3 [Member] | Appraisal Valuation Technique [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value liquidation inputs [1],[2] 0.00% (10.00%)
Fair Value, Inputs, Level 3 [Member] | Appraisal Valuation Technique [Member] | Measurement Input, Comparability Adjustment [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs [2],[3] (1)  
Fair Value, Inputs, Level 3 [Member] | Appraisal Valuation Technique [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs [2],[3]   (0.20)
Fair Value, Inputs, Level 3 [Member] | Appraisal Valuation Technique [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs [2],[3]   (1)
Fair Value, Inputs, Level 3 [Member] | Appraisal Valuation Technique [Member] | Nonrecurring [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements [2]   $ 164
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Expected Term [Member] | Minimum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value expected term 4 months 24 days 1 year 6 months
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Expected Term [Member] | Maximum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value expected term 29 years 2 months 12 days 29 years 10 months 24 days
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Prepayment Speeds | Minimum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs 90.00% 104.00%
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Prepayment Speeds | Maximum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs 350.00% 214.00%
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs 12.00% 12.00%
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Nonrecurring fair value range of value inputs 12.50% 12.50%
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Nonrecurring [Member] | Mortgage Servicing Rights [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements $ 1 $ 7
[1] Appraisals and pending agreements of sale are adjusted by management for estimated liquidation expenses. The range is presented as a percent of the initial appraised value.
[2] Fair value is primarily determined through appraisals of the underlying collateral by independent parties, which generally includes various level 3 inputs which are not always identifiable.
[3] Appraisals may be adjusted by management for qualitative factors such as economic conditions and the age of the appraisal. The range is presented as a percent of the initial appraised value.
v3.25.1
Note 18 - Available-for-sale Securities Measured at Fair Value Using Significant Unobservable Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Balance, beginning of year $ 52 $ 53
Payments received (3) (1)
Sale of securities 0 0
Included in earnings 0 0
Included in other comprehensive income 2 0
Transfers in and/or out of Level 3 0 0
Balance, end of year $ 51 $ 52
v3.25.1
Note 18 - Fair Value Measurements and Fair Values of Financial Instruments (Details Textual)
 12 Months Ended
Dec. 31, 2024
USD ($)
Issuer
Security
Dec. 31, 2023
USD ($)
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Number of underlying issuers | Issuer 1  
Expected credit losses or prepayments $ 0  
Swap rate period 30 years  
Measurement Input, Discount Rate [Member]    
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Discount rate 0.086  
Fair Value, Inputs, Level 3 [Member]    
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Fair value, measurement with unobservable inputs reconciliation, recurring basis, asset, gain (loss) included in earnings $ 0 $ 0
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations [Member]    
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Number of trust preferred securities | Security 1  
Maximum [Member]    
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Fair value, measurement with unobservable inputs reconciliation, recurring basis, asset, gain (loss) included in earnings $ 0 $ 0
Investment, Variable Interest Rate, Type [Extensible Enumeration] LIBOR [Member] LIBOR [Member]
v3.25.1
Note 18 - Financial and Off-balance Sheet Instruments (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Cash and cash equivalents $ 50,713,000 $ 62,657,000
Available-for-sale 546,559,000 490,182,000
Equity securities 0 5,910,000
Restricted investment in stocks 5,436,000 2,730,000
Loans held for sale 664,000 549,000
Net loans 1,207,304,000 1,084,681,000
Mortgage servicing rights 378,000 415,000
Accrued interest receivable 4,965,000 6,101,000
Deposits 1,628,541,000 1,488,713,000
Federal Funds Purchased and Securities Sold under Agreements to Repurchase 53,844,000 94,094,000
Long-term debt 30,000,000 20,000,000
Subordinated debt 39,068,000  
Accrued interest payable 7,580,000 5,294,000
Cash and cash equivalents 50,713,000 62,657,000
Restricted investment in bank stocks 5,436,000 2,730,000
Loans held for sale 664,000 560,000
Net loans 1,212,780,000 1,077,544,000
Mortgage servicing rights 556,000 585,000
Accrued interest receivable 4,965,000 6,101,000
Short-term borrowings 53,844,000 94,094,000
Long-term debt 30,033,000 19,906,000
Subordinated debt 40,600,000  
Accrued interest payable 7,580,000 5,294,000
Fair Value, Inputs, Level 1 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Equity securities 0 5,910,000
Cash and cash equivalents 50,713,000 62,657,000
Short-term borrowings 53,844,000 94,094,000
Fair Value, Inputs, Level 2 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Available-for-sale 546,508,000 490,130,000
Restricted investment in bank stocks 5,436,000 2,730,000
Loans held for sale 664,000 560,000
Accrued interest receivable 4,965,000 6,101,000
Long-term debt 30,033,000 19,906,000
Subordinated debt 40,600,000  
Accrued interest payable 7,580,000 5,294,000
Fair Value, Inputs, Level 3 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Available-for-sale 51,000 52,000
Net loans 1,212,780,000 1,077,544,000
Mortgage servicing rights 556,000 585,000
Standby Letters of Credit [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Commitments to extend credit 59,000 79,000
Standby Letters of Credit [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Commitments to extend credit 59,000 79,000
With No Stated Maturities [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits 1,247,083,000 1,173,732,000
Deposits 1,247,083,000 1,173,732,000
With No Stated Maturities [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits 1,247,083,000 1,173,732,000
With Stated Maturities [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits 381,458,000 314,981,000
Deposits 379,960,000 311,735,000
With Stated Maturities [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits $ 379,960,000 $ 311,735,000
v3.25.1
Note 19 - Schedule of Notional Amounts of Derivative Instruments (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]    
Notional amount $ 300,000 $ 300,000
Amortized cost of hedged portfolio 406,255 440,826
Cumulative amount of fair value hedging adjustment included in carrying amount of hedged asset 4,830 (1,749)
State and Municipal Securities [Member]    
Derivative [Line Items]    
Notional amount 75,000 75,000
Amortized cost of hedged portfolio 96,709 97,373
Cumulative amount of fair value hedging adjustment included in carrying amount of hedged asset 1,566 (445)
U.S. Government agencies and GSE mortgage backed securities    
Derivative [Line Items]    
Notional amount 225,000 225,000
Amortized cost of hedged portfolio 309,546 343,453
Cumulative amount of fair value hedging adjustment included in carrying amount of hedged asset $ 3,264 $ (1,304)
v3.25.1
Note 19 - Schedule of Derivative Designated as Fair Value Hedging Instruments of Statements on Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative [Line Items]                      
Total $ 22,209 $ 21,945 $ 20,345 $ 19,569 $ 19,257 $ 18,497 $ 15,865 $ 15,463 $ 84,068 $ 69,082 $ 52,421
Designated as Hedging Instrument [Member]                      
Derivative [Line Items]                      
Total                 4,778 2,801  
Designated as Hedging Instrument [Member] | State and Municipal Securities [Member]                      
Derivative [Line Items]                      
Recognized on fair value hedge                 3,910 2,180  
Recognized on hedge portfolio                 (2,664) (1,470)  
Recognized on remeasurement of fair value hedge                 10 16  
Designated as Hedging Instrument [Member] | U.S. Government agencies and GSE mortgage backed securities                      
Derivative [Line Items]                      
Recognized on fair value hedge                 11,731 6,517  
Recognized on hedge portfolio                 (8,243) (4,483)  
Recognized on remeasurement of fair value hedge                 $ 34 $ 41  
v3.25.1
Note 21 - Condensed Balance Sheet (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets        
Cash and cash equivalents $ 50,713,000 $ 62,657,000    
Investment securities:        
Available-for-sale (amortized cost $626,391 and $576,178) 546,559,000 490,182,000    
Equity securities (cost of $0 and $5,695) 0 5,910,000    
Other assets 7,736,000 7,320,000    
Total assets 1,870,894,000 1,706,318,000    
Liabilities        
Subordinated Debt 39,068,000      
Other liabilities 8,512,000 7,393,000    
Total liabilities 1,767,545,000 1,615,494,000    
Shareholders' equity 103,349,000 90,824,000 $ 70,958,000 $ 136,494,000
Total liabilities and shareholders' equity 1,870,894,000 1,706,318,000    
Parent Company [Member]        
Assets        
Balance with subsidiary or affiliated depository institutions 1,193,000 0    
Balances with unrelated depository institutions 3,414,000 565,000    
Investment securities:        
Available-for-sale (amortized cost $626,391 and $576,178) 18,010,000 6,451,000    
Equity securities (cost of $0 and $5,695) 0 5,910,000    
Investment in subsidiary 120,576,000 77,173,000    
Other assets 674,000 752,000    
Total assets 143,867,000 90,851,000    
Liabilities        
Subordinated Debt 39,068,000 0    
Other liabilities 1,450,000 27,000    
Total liabilities 40,518,000 27,000    
Shareholders' equity 103,349,000 90,824,000    
Total liabilities and shareholders' equity $ 143,867,000 $ 90,851,000    
v3.25.1
Note 21 - Condensed Balance Sheet (Parentheticals) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Condensed Balance Sheet Statements Captions [Line Items]    
Available-for-sale, amortized cost $ 626,391 $ 576,178
Equity securities, cost 0 5,695
Parent Company [Member]    
Condensed Balance Sheet Statements Captions [Line Items]    
Available-for-sale, amortized cost 18,004 6,448
Equity securities, cost $ 0 $ 5,695
v3.25.1
Note 21 - Condensed Statement of Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Income Statements, Captions [Line Items]                      
Securities gains (losses)                 $ 2,015 $ (19) $ 405
Net unrealized (loss) gain on investment equity securities                 (215) 250 (1,026)
Provision for income taxes $ 743 $ 961 $ 544 $ 663 $ 302 $ 494 $ 325 $ 1,123 2,911 2,244 3,665
Net income $ 3,051 $ 3,338 $ 2,465 $ 2,594 $ 1,134 $ 2,344 $ 1,887 $ 4,118 11,448 9,483 15,921
Parent Company [Member]                      
Condensed Income Statements, Captions [Line Items]                      
Dividends from subsidiary                 7,023 4,407 4,329
Interest, dividend and other income                 733 517 358
Securities gains (losses)                 517 (19) 405
Net unrealized (loss) gain on investment equity securities                 (215) 250 (1,026)
Total income                 8,058 5,155 4,066
Expenses                 1,923 661 496
Income before applicable income taxes and equity in undistributed income of subsidiary                 6,135 4,494 3,570
Provision for income taxes                 (99) (1) (235)
Income before equity in undistributed income of subsidiary                 6,234 4,495 3,805
Equity in undistributed income of subsidiary                 5,214 4,988 12,116
Net income                 $ 11,448 $ 9,483 $ 15,921
v3.25.1
Note 21 - Condensed Statement of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Statement of Income Captions [Line Items]                      
Net income, Before tax amount $ 3,794 $ 4,299 $ 3,009 $ 3,257 $ 1,436 $ 2,838 $ 2,212 $ 5,241 $ 14,359 $ 11,727 $ 19,586
Net unrealized holding gain/(loss) on available-for-sale securities:                      
Unrealized holding (loss)/gain arising during the period, Before tax amount                 5,068 14,638 (98,097)
Reclassification adjustment for loss included in net income, Before tax amount                 1,096 2,058 139
Other comprehensive income/(loss), Before tax amount                 6,164 16,696 (97,958)
Unrealized holding gain/(loss) arising during the period, Tax expense (benefit)                 643 3,074 (20,600)
Reclassification adjustment for loss included in net income, Tax expense (benefit)                 230 432 29
Other comprehensive income/(loss), Tax expense (benefit)                 873 3,506 (20,571)
Unrealized holding gain/(loss) arising during the period, Net of tax amount                 4,425 11,564 (77,497)
Reclassification adjustment for loss included in net income, Net of tax amount                 866 1,626 110
Other comprehensive income/(loss), Net of tax amount                 5,291 13,190 (77,387)
Total comprehensive income (loss), Before tax amount                 20,523 28,423 (78,372)
Total comprehensive income (loss), Tax expense (benefit)                 3,784 5,750 (16,906)
Net income $ 3,051 $ 3,338 $ 2,465 $ 2,594 $ 1,134 $ 2,344 $ 1,887 $ 4,118 11,448 9,483 15,921
Total comprehensive income (loss), Net of tax amount                 16,739 22,673 (61,466)
Parent Company [Member]                      
Condensed Statement of Income Captions [Line Items]                      
Net income, Before tax amount                 14,359 11,727 19,586
Net unrealized holding gain/(loss) on available-for-sale securities:                      
Reclassification adjustment for loss included in net income, Before tax amount                 1,096 2,058 139
Unrealized holding (loss)/gain arising during the period, Before tax amount                 5,068 14,638 (98,097)
Reclassification adjustment for loss included in net income, Tax expense (benefit)                 230 432 29
Unrealized holding gain/(loss) arising during the period, Tax expense (benefit)                 643 3,074 (20,600)
Reclassification adjustment for loss included in net income, Net of tax amount                 866 1,626 110
Unrealized holding (loss)/gain arising during the period, Net of tax amount                 4,425 11,564 (77,497)
Tax expense (benefit)                 2,911 2,244 3,665
Net income                 $ 11,448 $ 9,483 $ 15,921
v3.25.1
Note 21 - Condensed Statement of Cash Flows (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities                      
Net income $ 3,051,000 $ 3,338,000 $ 2,465,000 $ 2,594,000 $ 1,134,000 $ 2,344,000 $ 1,887,000 $ 4,118,000 $ 11,448,000 $ 9,483,000 $ 15,921,000
Adjustments to reconcile net income to net cash provided by operating activities:                      
Net unrealized loss (gain) on investmewnt equity securities                 215,000 (250,000) 1,026,000
Stock-based compensation expense                 199,000 185,000 85,000
Accretion of discounts on investment securities                 1,316,000 1,665,000 2,222,000
Amortization of deferred costs on subordinated debt                 56,000    
Increase (decrease) in other liabilities                 256,000 287,000 (550,000)
Decrease (increase) in other assets                 (991,000) (91,000) (298,000)
Deferred income tax (benefit) provision                 92,000 52,000 (57,000)
Net cash provided by operating activities                 16,217,000 14,457,000 16,835,000
Investing activities                      
Purchase of investment equity securities                 (1,170,000) (2,179,000) (1,860,000)
Purchase of investment securities available-for-sale                 (130,679,000) (14,381,000) (35,001,000)
Proceeds from sale of investment equity securities                 8,880,000 8,556,000 1,594,000
Proceeds from maturities of investment securities available-for-sale                 64,959,000 50,042,000 72,965,000
Net cash (used) provided in investing activities                 (173,326,000) 23,039,000 (71,646,000)
Financing activities                      
Issuance of subordinated debt                 40,000,000    
Cash dividend paid                 (4,798,000) (4,671,000) (4,498,000)
Treasury stock purchase                     (75,000)
Proceeds from issuance of common stock                 385,000 822,000 418,000
Net cash provided by (used) by financing activities                 145,165,000 9,262,000 57,320,000
(Decrease) increase in cash and cash equivalents                 (11,944,000) 46,758,000 2,509,000
Cash and cash equivalents at beginning of year       62,657,000       15,899,000 62,657,000 15,899,000 13,390,000
Cash and cash equivalents at end of period 50,713,000       62,657,000       50,713,000 62,657,000 15,899,000
Parent Company [Member]                      
Operating Activities                      
Net income                 11,448,000 9,483,000 15,921,000
Adjustments to reconcile net income to net cash provided by operating activities:                      
Equity in undistributed income from subsidiary                 (5,214,000) (4,988,000) (12,116,000)
Net securities gains (losses)                 (517,000) 19,000 (405,000)
Net unrealized loss (gain) on investmewnt equity securities                 215,000 (250,000) 1,026,000
Stock-based compensation expense                 199,000 185,000 85,000
Accretion of discounts on investment securities                 (349,000) (174,000) (6,000)
Amortization of deferred costs on subordinated debt                 56,000 0 0
Increase (decrease) in other liabilities                 210,000 (36,000) (266,000)
Decrease (increase) in other assets                 77,000 (122,000) (121,000)
Deferred income tax (benefit) provision                 226,000 42,000 (285,000)
Net cash provided by operating activities                 6,351,000 4,159,000 3,833,000
Investing activities                      
Purchase of investment equity securities                 (1,170,000) (2,179,000) (1,860,000)
Purchase of investment securities available-for-sale                 (35,783,000) (14,275,000) (1,193,000)
Proceeds from sale of investment equity securities                 7,382,000 8,556,000 1,594,000
Proceeds from maturities of investment securities available-for-sale                 24,575,000 7,800,000 900,000
Capital contribution to Bank                 (32,900,000) 0 0
Net cash (used) provided in investing activities                 (37,896,000) (98,000) (559,000)
Financing activities                      
Issuance of subordinated debt                 40,000,000 0 0
Cash dividend paid                 (4,798,000) (4,671,000) (4,498,000)
Treasury stock purchase                 0 0 (75,000)
Proceeds from issuance of common stock                 385,000 822,000 418,000
Net cash provided by (used) by financing activities                 35,587,000 (3,849,000) (4,155,000)
(Decrease) increase in cash and cash equivalents                 4,042,000 212,000 (881,000)
Cash and cash equivalents at beginning of year       $ 565,000       $ 353,000 565,000 353,000 1,234,000
Cash and cash equivalents at end of period $ 4,607,000       $ 565,000       $ 4,607,000 $ 565,000 $ 353,000
v3.25.1
Note 20 - Capital Ratios and Regulatory Minimum Requirements (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
The Company [Member]    
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]    
Capital $ 214,826 $ 167,711
Tier 1 capital 165,995 158,753
Common equity tier 1 capital 165,995 158,753
Tier 1 leverage capital $ 165,995 $ 158,753
Capital to risk-weighted assets 0.1556 0.1309
Tier 1 capital to risk-weighted assets 0.1202 0.1239
Common equity tier 1 capital to risk-weighted assets 12.02% 12.39%
Tier 1 leverage capital to average assets 0.087 0.0892
Capital required for capital adequacy $ 110,480 $ 102,513
Tier 1 capital required for capital adequacy 82,860 76,885
Common equity tier 1 capital required for capital adequacy 62,145 57,664
Tier 1 leverage capital required for capital adequacy $ 76,357 $ 71,185
Capital required for capital adequacy to risk-weighted assets 0.08 0.08
Tier 1 capital required for capital adequacy to risk-weighted assets 0.06 0.06
Common equity tier 1 capital required for capital adequacy to risk-weighted assets 4.50% 4.50%
Tier 1 leverage capital required for capital adequacy to average assets 0.04 0.04
Capital required to be well capitalized $ 138,100 $ 128,142
Tier 1 capital required to be well capitalized $ 82,860 $ 76,885
Capital required to be well capitalized to risk-weighted assets 0.10 0.10
Tier 1 capital required to be well capitalized to risk-weighted assets 0.06 0.06
Bank [Member]    
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]    
Capital $ 192,057 $ 154,062
Tier 1 capital 183,226 145,104
Common equity tier 1 capital 183,226 145,104
Tier 1 leverage capital $ 183,226 $ 145,104
Capital to risk-weighted assets 0.1392 0.122
Tier 1 capital to risk-weighted assets 0.1328 0.1149
Common equity tier 1 capital to risk-weighted assets 13.28% 11.49%
Tier 1 leverage capital to average assets 0.0971 0.0818
Capital required for capital adequacy $ 110,396 $ 101,032
Tier 1 capital required for capital adequacy 82,797 75,774
Common equity tier 1 capital required for capital adequacy 62,098 56,830
Tier 1 leverage capital required for capital adequacy $ 75,483 $ 70,961
Capital required for capital adequacy to risk-weighted assets 0.08 0.08
Tier 1 capital required for capital adequacy to risk-weighted assets 0.06 0.06
Common equity tier 1 capital required for capital adequacy to risk-weighted assets 4.50% 4.50%
Tier 1 leverage capital required for capital adequacy to average assets 0.04 0.04
Capital required to be well capitalized $ 137,995 $ 126,290
Tier 1 capital required to be well capitalized 110,396 101,032
Common equity tier 1 capital required to be well capitalized 89,696 82,088
Tier 1 leverage capital required to be well capitalized $ 94,353 $ 88,701
Capital required to be well capitalized to risk-weighted assets 0.10 0.10
Tier 1 capital required to be well capitalized to risk-weighted assets 0.08 0.08
Common equity tier 1 capital required to be well capitalized to risk-weighted assets 6.50% 6.50%
Tier 1 leverage capital required to be well capitalized to average assets 0.05 0.05
v3.25.1
Note 21 - Unaudited Quarterly Results of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unaudited Quarterly Results Of Operations [Abstract]                      
Interest income $ 22,209 $ 21,945 $ 20,345 $ 19,569 $ 19,257 $ 18,497 $ 15,865 $ 15,463 $ 84,068 $ 69,082 $ 52,421
Interest expense 11,234 10,818 9,753 9,401 9,065 8,284 6,532 5,046 41,206 28,927 7,924
Net interest income 10,975 11,127 10,592 10,168 10,192 10,213 9,333 10,417 42,862 40,155 44,497
(Reversal of) provision for credit losses (255) 159 114 (86) 293 459 209 (1,805) (68) (844) (850)
Non-interest income 1,645 1,967 1,465 1,836 283 1,755 1,580 1,219 6,913 4,837 5,731
Non-interest expense 9,081 8,636 8,934 8,833 8,746 8,671 8,492 8,200 35,484 34,109 31,492
Income before income taxes 3,794 4,299 3,009 3,257 1,436 2,838 2,212 5,241 14,359 11,727 19,586
Provision for income taxes 743 961 544 663 302 494 325 1,123 2,911 2,244 3,665
Net income $ 3,051 $ 3,338 $ 2,465 $ 2,594 $ 1,134 $ 2,344 $ 1,887 $ 4,118 $ 11,448 $ 9,483 $ 15,921
Earnings Per Share - basic $ 0.83 [1] $ 0.91 [1] $ 0.67 [1] $ 0.71 [1] $ 0.31 [1] $ 0.65 [1] $ 0.52 [1] $ 1.15 [1] $ 3.12 $ 2.63 $ 4.47
Earnings Per Share - diluted $ 0.83 [1] $ 0.91 [1] $ 0.67 [1] $ 0.71 [1] $ 0.31 [1] $ 0.65 [1] $ 0.52 [1] $ 1.15 [1] $ 3.12 $ 2.63 $ 4.47
[1] Due to rounding, quarterly earnings per share may not sum to annual earnings per share