QNB CORP, 10-Q filed on 11/7/2024
Quarterly Report
v3.24.3
Document And Entity Information - shares
 9 Months Ended
Sep. 30, 2024
Oct. 31, 2024
Cover [Abstract]    
Entity Registrant Name QNB Corp.  
Trading Symbol QNBC  
Title of 12(g) Security Common Stock  
Security Exchange Name NONE  
Document Type 10-Q  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   3,686,442
Amendment Flag false  
Entity Central Index Key 0000750558  
Entity Filer Category Non-accelerated Filer  
Document Period End Date Sep. 30, 2024  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Document Quarterly Report true  
Document Transition Report false  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
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  
v3.24.3
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 17,084,000 $ 11,447,000
Interest-bearing deposits in banks 87,148,000 51,210,000
Total cash and cash equivalents 104,232,000 62,657,000
Investments:    
Available-for-sale (amortized cost $584,642 and $576,178) 510,036,000 490,182,000
Equity securities (cost of $1,416 and $5,695) 2,760,000 5,910,000
Restricted investment in stocks 4,085,000 2,730,000
Loans held-for-sale 294,000 549,000
Loans receivable 1,171,361,000 1,093,533,000
Allowance for credit losses on loans (8,987,000) (8,852,000)
Loans receivable, net 1,162,374,000 1,084,681,000
Bank-owned life insurance 11,858,000 11,946,000
Premises and equipment, net 17,000,000 14,952,000
Accrued interest receivable 4,472,000 6,101,000
Net deferred tax assets 16,841,000 19,290,000
Other assets 7,611,000 7,320,000
Total assets 1,841,563,000 1,706,318,000
Deposits    
Demand, non-interest bearing 190,240,000 185,098,000
Interest-bearing demand 541,116,000 462,712,000
Money market 242,017,000 222,843,000
Savings 272,276,000 303,079,000
Time less than $100 178,055,000 149,851,000
Time $100 through $250 154,966,000 121,793,000
Time greater than $250 47,614,000 43,337,000
Total deposits 1,626,284,000 1,488,713,000
Short-term borrowings 22,918,000 94,094,000
Long-term debt 30,000,000 20,000,000
Subordinated debt 39,030,000  
Accrued interest payable 4,738,000 5,294,000
Other liabilities 13,253,000 7,393,000
Total liabilities 1,736,223,000 1,615,494,000
Shareholders' Equity    
Common stock, par value $0.625 per share; authorized 10,000,000 shares; 3,895,128 shares and 3,861,940 shares issued; 3,686,442 and 3,653,254 shares outstanding 2,435,000 2,414,000
Surplus 27,278,000 26,439,000
Retained earnings 138,271,000 133,945,000
Accumulated other comprehensive loss, net of tax (58,607,000) (67,937,000)
Treasury stock, at cost; 208,686 and 208,686 shares (4,037,000) (4,037,000)
Total shareholders' equity 105,340,000 90,824,000
Total liabilities and shareholders' equity $ 1,841,563,000 $ 1,706,318,000
v3.24.3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Available-for-sale, amortized cost $ 584,642 $ 576,178
Equity securities, cost $ 1,416 $ 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) 3,895,128 3,861,940
Common stock, shares outstanding (in shares) 3,686,442 3,653,254
Treasury stock, shares (in shares) 208,686 208,686
v3.24.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Interest and fees on loans $ 16,736 $ 13,833 $ 47,976 $ 39,399
Interest and dividends on available-for-sale & equity securities:        
Taxable 3,550 3,443 10,289 8,179
Tax-exempt 355 362 1,071 1,101
Interest on interest-bearing balances and other interest income 1,304 859 2,523 1,146
Total interest income 21,945 18,497 61,859 49,825
Interest on deposits        
Interest-bearing demand 2,721 2,437 7,230 5,390
Money market 2,132 1,527 6,196 2,913
Savings 896 1,038 2,769 3,208
Time less than $100 1,846 947 5,027 1,960
Time of $100 through $250 1,777 996 4,790 2,676
Time greater than $250 573 377 1,709 767
Interest on short-term borrowings 186 740 1,010 2,518
Interest on long-term debt 364 222 918 430
Interest on subordinated debt 323   323  
Total interest expense 10,818 8,284 29,972 19,862
Net interest income 11,127 10,213 31,887 29,963
Provision (reversal) for credit losses 159 459 187 (1,137)
Net interest income after provision (reversal) for credit losses 10,968 9,754 31,700 31,100
Non-interest income        
Net gain (loss) on sales and calls of available-for-sale and equity securities 224 131 (495) 185
Unrealized gain (loss) on equity securities 143 (138) 1,129 (654)
Fees for services to customers 469 421 1,316 1,237
ATM and debit card 691 685 2,032 2,048
Retail brokerage and advisory 139 219 358 655
Bank-owned life insurance 80 81 252 245
Merchant 84 99 266 298
Net gain on sale of loans 19 4 32 5
Other 118 253 378 535
Total non-interest income 1,967 1,755 5,268 4,554
Non-interest expense        
Salaries and employee benefits 4,650 4,971 14,662 14,309
Net occupancy 540 594 1,653 1,683
Furniture and equipment 991 910 2,874 2,665
Marketing 197 216 691 678
Third party services 661 592 1,946 1,837
Telephone, postage and supplies 120 134 369 434
State taxes 149 60 465 244
FDIC insurance premiums 341 274 1,028 745
Other 987 920 2,715 2,768
Total non-interest expense 8,636 8,671 26,403 25,363
Income before income taxes 4,299 2,838 10,565 10,291
Provision for income taxes 961 494 2,168 1,942
Net income $ 3,338 $ 2,344 $ 8,397 $ 8,349
Earnings per share - basic $ 0.91 $ 0.65 $ 2.29 $ 2.32
Earnings per share - diluted 0.91 0.65 2.29 2.32
Cash dividends per share $ 0.37 $ 0.37 $ 1.11 $ 1.11
v3.24.3
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income, Before tax amount $ 4,299 $ 2,838 $ 10,565 $ 10,291
Net unrealized holding gains (losses) on available-for-sale securities:        
Unrealized holding gains (losses) arising during the period, Before tax amount 18,464 (19,229) 13,526 (15,206)
Reclassification adjustment for gains included in net income, Before tax amount     1,096 257
Unrealized holding gains (losses) arising during the period, Tax expense (benefit) 3,568 (4,038) 2,531 (3,193)
Reclassification adjustment for gains included in net income, Tax expense (benefit)     230 54
Unrealized holding gains (losses) arising during the period, Net of tax amount 14,896 (15,191) 10,995 (12,013)
Reclassification adjustment for gains included in net income, Net of tax amount     866 203
Net unrealized holding gains on fair value hedge:        
Unrealized holding gains (losses) arising during the period, Before tax amount (10,846) 8,350 (3,104) 10,559
Unrealized holding gains (losses) arising during the period, Tax expense (benefit) (2,300) 1,753 (674) 2,217
Unrealized holding gains (losses) arising during the period, Net of tax amount (8,546) 6,597 (2,430) 8,342
Reclassification adjustment for fair value remeasurements included in net income, Before tax amount (150) 26 (128) 64
Reclassification adjustment for fair value remeasurements included in net income, Tax expense (benefit) (31) 5 (27) 13
Reclassification adjustment for fair value remeasurements included in net income, Net of tax amount (119) 21 (101) 51
Other comprehensive income (loss), Before tax amount 7,468 (10,853) 11,390 (4,326)
Other comprehensive income (loss), Tax expense (benefit) 1,237 (2,280) 2,060 (909)
Other comprehensive income (loss), Net of tax amount 6,231 (8,573) 9,330 (3,417)
Other comprehensive income (loss), Before tax amount 11,767 (8,015) 21,955 5,965
Tax expense (benefit) 961 494 2,168 1,942
Other comprehensive income (loss), Tax expense (benefit) 2,198 (1,786) 4,228 1,033
Net Income (Loss) 3,338 2,344 8,397 8,349
Other comprehensive income (loss), Net of tax amount $ 9,569 $ (6,229) $ 17,727 $ 4,932
v3.24.3
Consolidated Statement of Shareholders' Equity (Unaudited) - 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 Loss [Member]
Accumulated Other Comprehensive 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, 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 (Loss) $ 8,349             8,349            
Other comprehensive income (loss), net of tax (3,417)                   (3,417)      
Cash dividends declared (3,997)             (3,997)            
Stock issued in connection with dividend reinvestment and stock purchase plan 1,131     $ 30   1,101                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       47,409                    
Stock issued for employee stock purchase plan 66     $ 2   64                
Stock issued for employee stock purchase plan (in shares)       3,187                    
Stock issued for Non-Employee Director Compensation       $ 1   (1)                
Stock issued for Non-Employee Director Compensation (in shares)       1,740                    
Stock-based compensation expense 134         134                
Balance at Sep. 30, 2023 74,081     $ 2,406   26,096   134,160     (84,544)   (4,037)  
Balance (in shares) at Sep. 30, 2023       3,640,598                    
Balance at Jun. 30, 2023 80,945     $ 2,387   25,414   133,152     (75,971)   (4,037)  
Balance (in shares) at Jun. 30, 2023       3,610,920                    
Net Income (Loss) 2,344             2,344            
Other comprehensive income (loss), net of tax (8,573)                   (8,573)      
Cash dividends declared (1,336)             (1,336)            
Stock issued in connection with dividend reinvestment and stock purchase plan 658     $ 18   640                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       27,938                    
Stock issued for employee stock purchase plan       $ 1   (1)                
Stock issued for employee stock purchase plan (in shares)       1,740                    
Stock-based compensation expense 43         43                
Balance at Sep. 30, 2023 74,081     $ 2,406   26,096   134,160     (84,544)   (4,037)  
Balance (in shares) at Sep. 30, 2023       3,640,598                    
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 (Loss) $ 8,397             8,397            
Other comprehensive income (loss), net of tax 9,330                   9,330      
Cash dividends declared (4,071)             (4,071)            
Stock issued in connection with dividend reinvestment and stock purchase plan 657     $ 17   640                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       26,348                    
Stock issued for employee stock purchase plan 74     $ 2   72                
Stock issued for employee stock purchase plan (in shares)       3,780                    
Stock issued for Non-Employee Director Compensation       $ 2   (2)                
Stock issued for Non-Employee Director Compensation (in shares)       3,060                    
Stock-based compensation expense 129         129                
Balance at Sep. 30, 2024 $ 105,340     $ 2,435   27,278   138,271     (58,607)   (4,037)  
Balance (in shares) at Sep. 30, 2024 3,686,442     3,686,442                    
Balance at Jun. 30, 2024 $ 96,885     $ 2,429   27,036   136,295     (64,838)   (4,037)  
Balance (in shares) at Jun. 30, 2024       3,677,967                    
Net Income (Loss) 3,338             3,338            
Other comprehensive income (loss), net of tax 6,231                   6,231      
Cash dividends declared (1,362)             (1,362)            
Stock issued in connection with dividend reinvestment and stock purchase plan 206     $ 5   201                
Stock issued in connection with dividend reinvestment and stock purchase plan (in shares)       6,945                    
Stock issued for Non-Employee Director Compensation       $ 1   (1)                
Stock issued for Non-Employee Director Compensation (in shares)       1,530                    
Stock-based compensation expense 42         42                
Balance at Sep. 30, 2024 $ 105,340     $ 2,435   $ 27,278   $ 138,271     $ (58,607)   $ (4,037)  
Balance (in shares) at Sep. 30, 2024 3,686,442     3,686,442                    
v3.24.3
Consolidated Statement of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
O 2024 Q3 Dividends [Member]        
Cash dividends declared, per share (in dollars per share) $ 0.37      
O 2023 Q3 Dividends [Member]        
Cash dividends declared, per share (in dollars per share)   $ 0.37    
O 2024 M9 Dividends [Member]        
Cash dividends declared, per share (in dollars per share)     $ 1.11  
O 2023 M9 Dividends [Member]        
Cash dividends declared, per share (in dollars per share)       $ 1.11
v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 8,397,000 $ 8,349,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,216,000 1,246,000
Provision (reversal of provision) for credit losses 187,000 (1,137,000)
Net loss (gain) on calls and sales of debt and equity securities 495,000 (185,000)
Net unrealized (gain) loss on equity securities (1,129,000) 654,000
Net gain on sale of loans (32,000) (5,000)
Proceeds from sales of residential mortgages held-for-sale 1,466,000 640,000
Origination of residential mortgages held-for-sale (1,179,000) (1,081,000)
Increase in cash surrender value of bank-owned life insurance (252,000) (245,000)
Stock-based compensation expense 129,000 134,000
Deferred income tax expense (benefit) 389,000 (102,000)
Net increase (decrease) in income taxes payable 66,000 (1,189,000)
Net decrease (increase) in accrued interest receivable 1,629,000 (552,000)
Fair value remeasurements on interest rate swap (128,000) 64,000
Amortization of mortgage servicing rights and change in valuation allowance 34,000 44,000
Net amortization of premiums and discounts on investment securities 1,044,000 1,289,000
Net amortization of deferred costs on subordinated debt 17,000  
Net (decrease) increase in accrued interest payable (556,000) 2,812,000
Operating lease payments (474,000) (469,000)
Increase in other assets (379,000) (1,595,000)
Decrease in other liabilities (1,240,000) (247,000)
Net cash provided by operating activities 9,700,000 8,425,000
Investing Activities    
Proceeds from payments, maturities and calls of investments available-for-sale 38,693,000 38,040,000
Proceeds from the sale of investments available-for-sale 13,139,000 9,081,000
Proceeds from the sale of equity securities 6,050,000 8,180,000
Purchases of investments available-for-sale (56,223,000) (11,922,000)
Purchases of equity securities (1,170,000) (1,101,000)
Proceeds from redemption of investment in restricted stock 45,000 7,629,000
Purchases of restricted stock (1,400,000) (5,166,000)
Net increase in loans (77,886,000) (20,847,000)
Net purchases of premises and equipment (2,769,000) (617,000)
Redemption of Bank Owned Life Insurance investment 341,000  
Net cash (used in) provided by investing activities (81,180,000) 23,277,000
Financing Activities    
Net increase (decrease) in non-interest bearing deposits 5,142,000 (39,623,000)
Net increase in interest-bearing deposits 132,429,000 104,587,000
Net decrease in short-term borrowings (71,176,000) (64,624,000)
Proceeds from long-term debt 10,000,000 20,000,000
Repayment of long-term debt   (10,000,000)
Proceeds from subordinated debt 40,000,000  
Cash dividends paid, net of reinvestment (3,597,000) (3,485,000)
Proceeds from issuance of common stock 257,000 685,000
Net cash provided by financing activities 113,055,000 7,540,000
Increase in cash and cash equivalents 41,575,000 39,242,000
Cash and cash equivalents at beginning of year 62,657,000 15,899,000
Cash and cash equivalents at end of period 104,232,000 55,141,000
Supplemental Cash Flow Disclosures    
Interest paid 30,528,000 17,051,000
Net income taxes paid 1,712,000 3,232,000
Non-cash transactions:    
Trade-date settlement for purchased securities (6,085,000)  
Cumulative change in accounting principal   857,000
Right-of-use assets obtained in exchange for new operating lease liabilities $ 457,000 $ 369,000
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure        
Net Income (Loss) $ 3,338 $ 2,344 $ 8,397 $ 8,349
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 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
v3.24.3
Note 1 - Basis of Presentation
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation

1. BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements include the accounts of QNB Corp. and its wholly-owned subsidiary, QNB Bank (the “Bank”). The consolidated entity is referred to herein as “QNB” or the “Company”. All significant intercompany accounts and transactions are eliminated in the consolidated financial statements.

These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in QNB's 2023 Annual Report incorporated in the Form 10-K. Operating results for the three- and nine-month periods ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.

The unaudited consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair presentation of the results of operations for the period and are of a normal and recurring nature.

Tabular information, other than share and per share data, is presented in thousands of dollars.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from such estimates.

 

QNB has evaluated events and transactions occurring subsequent to the balance sheet date of September 30, 2024 for items that should potentially be recognized or disclosed in these consolidated financial statements and has not identified any subsequent event.
v3.24.3
Note 2 - Recent Accounting Pronouncements
 9 Months Ended
Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recent Accounting Pronouncements

2. RECENT ACCOUNTING PRONOUNCEMENTS

 

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 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. Management has not completed its evaluation of the impact of this rule on the Company's operations as of September 30, 2024.

 

On June 26, 2024, the Financial Accounting Standards Board (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.
v3.24.3
Note 3 - Stock-Based Compensation and Shareholders' Equity
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation and Shareholders' Equity

3. STOCK-BASED COMPENSATION AND SHAREHOLDERS’ EQUITY

QNB maintains a 2015 Stock Incentive Plan (the "2015 Plan"), administered by a Board committee (the “Committee”), under which both qualified and non-qualified stock options may be granted periodically to certain employees. 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 $24,000 and $23,000 for the three months ended September 30, 2024 and 2023, respectively. Stock-based compensation expense related to the 2015 Plan was $63,000 and $67,000 for the nine months ended

September 30, 2024 and 2023, respectively. At September 30, 2024, there was approximately $217,000 of unrecognized compensation cost related to unvested share-based compensation award grants that is expected to be recognized over the next 27 months.

Options are granted to certain employees at prices equal to the market value of the stock on the date the options are granted. The 2015 Plan authorized the issuance of 300,000 shares. The time period during which any option is exercisable under the 2015 Plan is determined by the Committee but shall not commence before the expiration of six months after the date of grant or continue beyond the expiration of five years after the date the option is awarded. The granted options vest after a three-year period. 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. As of September 30, 2024, there were 252,550 options granted, 94,450 options forfeited, 20,825 options exercised, and 137,275 options outstanding under this Plan. The 2015 Plan expires on February 24, 2025.

The following assumptions were used in the option pricing model in determining the fair value of options granted during the period:

 

For the Nine Months Ended September 30,

 

2024

 

 

2023

 

Risk free interest rate

 

 

3.98

%

 

 

3.64

%

Dividend yield

 

 

5.97

%

 

 

4.80

%

Volatility

 

 

20.96

%

 

 

20.36

%

Expected life (years)

 

 

8.19

 

 

 

8.35

 

 

The risk-free interest rate was selected based upon yields of U.S. Treasury securities with a term approximating the expected life of the option being valued. Historical information was the basis for the selection of the expected dividend yield, expected volatility and expected lives of the options.

The fair market value of options granted in the nine months ended September 30, 2024 and 2023 was $3.08 and $4.11, respectively.

Stock option activity during the nine months ended September 30, 2024 and 2023 is as follows:

 

 

Number
of options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual term
(in years)

 

 

Aggregate
intrinsic value

 

Outstanding at December 31, 2023

 

 

121,550

 

 

$

34.29

 

 

 

 

 

$

—

 

Granted

 

 

40,000

 

 

 

23.40

 

 

 

 

 

 

244

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

—

 

Forfeited

 

 

(24,275

)

 

 

37.69

 

 

 

 

 

 

—

 

Outstanding at September 30, 2024

 

 

137,275

 

 

$

30.51

 

 

 

5.49

 

 

$

244

 

Exercisable at September 30, 2024

 

 

45,315

 

 

$

33.74

 

 

 

2.01

 

 

$

—

 

 

 

 

 

Number
of options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual term
(in years)

 

 

Aggregate
intrinsic value

 

Outstanding at December 31, 2022

 

 

109,150

 

 

$

37.65

 

 

 

 

 

$

—

 

Granted

 

 

35,000

 

 

 

29.51

 

 

 

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

—

 

Forfeited

 

 

(22,600

)

 

 

43.15

 

 

 

 

 

 

—

 

Outstanding at September 30, 2023

 

 

121,550

 

 

$

34.29

 

 

 

4.09

 

 

$

—

 

Exercisable at September 30, 2023

 

 

41,375

 

 

$

37.37

 

 

 

0.85

 

 

$

—

 

 

QNB maintains a 2021 Employee Stock Purchase Plan (the "2021 ESPP") offering 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). Stock-based compensation expense related to the 2021 ESPP was $13,000 and $7,000 for the nine months ended September 30, 2024 and 2023, respectively. The 2021 ESPP authorized the issuance of 30,000 shares. As of September 30, 2024, 17,674 shares were issued under the 2021 ESPP Plan. The 2021 ESPP Plan expires May 31, 2026.

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 September 30, 2024, 4,800 shares were issued to non-employee directors and there were 45,200 shares remaining under the Plan. Stock-based compensation expense related to the Director Compensation Plan was $53,000 for the nine months ended September 30, 2024 and $60,000 for the nine months ended September 30, 2023.
v3.24.3
Note 4 - Earnings Per Share & Share Repurchase Plan
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share & Share Repurchase Plan

4. EARNINGS PER SHARE & SHARE REPURCHASE PLAN

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

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator for basic and diluted earnings per share - net income

 

$

3,338

 

 

$

2,344

 

 

$

8,397

 

 

$

8,349

 

Denominator for basic earnings per share - weighted
   average shares outstanding

 

 

3,679,799

 

 

 

3,613,230

 

 

 

3,666,937

 

 

 

3,600,137

 

Effect of dilutive securities - employee stock options

 

 

2,974

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

3,682,773

 

 

 

3,613,230

 

 

 

3,666,937

 

 

 

3,600,137

 

Earnings per share - basic

 

$

0.91

 

 

$

0.65

 

 

$

2.29

 

 

$

2.32

 

Earnings per share - diluted

 

 

0.91

 

 

 

0.65

 

 

 

2.29

 

 

 

2.32

 

 

 

There were 97,275 and 121,550 stock options that were anti-dilutive for the three-month periods ended September 30, 2024 and 2023, respectively. There were 137,275 and 121,550 stock options that were anti-dilutive for the nine-month periods ended September 30, 2024 and 2023, 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, increased in amount on February 9, 2009 to 100,000 shares, and subsequently increased on April 27, 2021 to up to 200,000 shares of common stock in the open market or privately negotiated transactions. The repurchase authorization has no termination date. There were 0 and 0 shares repurchased during the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, 102,000 shares were repurchased under this authorization at an average price of $24.93 and a total cost of approximately $2,543,000.
v3.24.3
Note 5 - Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2024
Other Comprehensive Loss, Tax [Abstract]  
Comprehensive Income (Loss)

5. COMPREHENSIVE INCOME (LOSS)

The following shows the components of accumulated other comprehensive loss at September 30, 2024 and December 31, 2023:

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Unrealized net holding losses on available-for-sale
   securities

 

$

(69,625

)

 

$

(84,247

)

Unrealized net holding losses on fair value hedge

 

 

(4,981

)

 

 

(1,749

)

Accumulated other loss

 

 

(74,606

)

 

 

(85,996

)

Tax effect

 

 

15,999

 

 

 

18,059

 

Accumulated other comprehensive loss, net of tax

 

$

(58,607

)

 

$

(67,937

)

 

 

 

 

 

 

 

 

The following table presents amounts reclassified out of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023:

 

For the Three Months Ended September 30,

 

Amount reclassified from
accumulated other
comprehensive loss

 

 

 

Details about accumulated other comprehensive loss

 

2024

 

 

2023

 

 

Affected line item in statement of income

Unrealized net holding gains (losses) on available-for-sale securities

 

$

—

 

 

$

—

 

 

Net gain (loss) on sales of investments available-for-sale

Fair value remeasurements on fair value hedges

 

 

150

 

 

 

(26

)

 

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

 

 

 

150

 

 

 

(26

)

 

 

Tax effect

 

 

(31

)

 

 

5

 

 

Provision for income taxes

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

 

$

119

 

 

$

(21

)

 

Net of tax

 

For the Nine Months Ended September 30,

 

Amount reclassified from
accumulated other
comprehensive loss

 

 

 

Details about accumulated other comprehensive loss

 

2024

 

 

2023

 

 

Affected line item in statement of income

Unrealized net holding losses on available-for-sale securities

 

$

(1,096

)

 

$

(257

)

 

Net gain (loss) on sales of investments available-for-sale

Fair value remeasurements on fair value hedges

 

 

128

 

 

 

(64

)

 

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

 

 

 

(968

)

 

 

(321

)

 

 

Tax effect

 

 

203

 

 

 

67

 

 

Provision for income taxes

Total reclassification out of accumulated other comprehensive loss, net of tax

 

$

(765

)

 

$

(254

)

 

Net of tax
v3.24.3
Note 6 - Investment Securities
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

6. INVESTMENT SECURITIES

Available-For-Sale Securities

The amortized cost and estimated fair values of investment securities available-for-sale at September 30, 2024 and December 31, 2023 were as follows:

 

 

 

Fair

 

 

Gross unrealized holding

 

 

Gross unrealized holding

 

 

Gross unrealized fair value hedge

 

 

Amortized

 

September 30, 2024

 

value

 

 

gains

 

 

losses

 

 

gains (1)

 

 

cost

 

U.S. Treasury

 

$

19,005

 

 

$

20

 

 

$

—

 

 

$

—

 

 

$

18,985

 

U.S. Government agency

 

 

68,241

 

 

 

—

 

 

 

(7,716

)

 

 

—

 

 

 

75,957

 

State and municipal

 

 

87,414

 

 

 

—

 

 

 

(16,845

)

 

 

(1,368

)

 

 

105,627

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

205,742

 

 

 

—

 

 

 

(31,182

)

 

 

(3,613

)

 

 

240,537

 

Collateralized mortgage obligations (CMOs)

 

 

123,173

 

 

 

—

 

 

 

(13,668

)

 

 

—

 

 

 

136,841

 

Corporate debt and money market funds

 

 

6,461

 

 

 

22

 

 

 

(256

)

 

 

—

 

 

 

6,695

 

Total investment debt securities available-for-sale

 

$

510,036

 

 

$

42

 

 

$

(69,667

)

 

$

(4,981

)

 

$

584,642

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

 

unrealized

 

 

unrealized

 

 

unrealized

 

 

 

 

 

 

Fair

 

 

holding

 

 

holding

 

 

fair value hedge

 

 

Amortized

 

December 31, 2023

 

value

 

 

gains

 

 

losses

 

 

losses (1)

 

 

cost

 

U.S. Treasury

 

$

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 and money market funds

 

 

6,209

 

 

 

2

 

 

 

(496

)

 

 

—

 

 

 

6,703

 

Total investment debt securities available-for-sale

 

$

490,182

 

 

$

5

 

 

$

(84,252

)

 

$

(1,749

)

 

$

576,178

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) See Note 12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The amortized cost and estimated fair value of securities available-for-sale by contractual maturity at September 30, 2024 is 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. Maturities for mortgage-backed securities and collateralized mortgage obligations are dependent upon the interest rate environment and prepayments of the underlying loans.

 

 

 

 

 

 

 

 

September 30, 2024

 

Fair value

 

 

Amortized cost

 

Due in one year or less

 

$

21,210

 

 

$

21,180

 

Due after one year through five years

 

 

57,700

 

 

 

63,288

 

Due after five years through ten years

 

 

33,018

 

 

 

38,835

 

Due after ten years

 

 

69,193

 

 

 

83,961

 

 

 

 

181,121

 

 

 

207,264

 

Residential mortgage-backed securities

 

 

205,742

 

 

 

240,537

 

Collateralized mortgage obligations

 

 

123,173

 

 

 

136,841

 

Total

 

$

510,036

 

 

$

584,642

 

 

 

 

Proceeds from sales of investment securities available-for-sale were approximately $0 and $0 for the three months ended September 30, 2024 and 2023, respectively. Proceeds from sales of investment securities available-for-sale were approximately $13,139,000 and $9,081,000 for the nine months ended September 30, 2024 and 2023, respectively.

At September 30, 2024 and December 31, 2023, investment securities available-for-sale totaling approximately $261,595,000 and $289,935,000, respectively, were pledged as collateral for repurchase agreements and deposits of public funds.

The following table presents information related to the Company’s gains and losses on the sales and calls of securities available-for-sale, and losses recognized for the impairment of these investments. Gains and losses on available-for-sale securities are computed on the specific identification method and included in non-interest income. Gross realized losses on debt securities are net of impairment charges:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Gross realized gains

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Gross realized losses

 

 

—

 

 

 

 

 

 

(1,096

)

 

 

(257

)

Impairment

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total net gains (losses) on AFS securities

 

$

—

 

 

$

—

 

 

$

(1,096

)

 

$

(257

)

 

 

The tax applicable to the net realized losses for both of the three-month periods ended September30, 2024 and 2023 was $0 and $0, respectively. The tax applicable to the net realized losses for both of the nine-month periods ended September 30, 2024 and 2023 was $236,000 and $54,000, respectively.

QNB follows the accounting guidance in FASB ASC 326-10 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 loss. No credit impairments were recognized on debt securities during the three or nine months ended September 30, 2024 and 2023, respectively.

 

The following table indicates the length of time individual debt securities have been in a continuous unrealized loss position as of September 30, 2024 and December 31, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

September 30, 2024

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasury

 

 

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

U.S. Government agency

 

 

35

 

 

 

—

 

 

 

—

 

 

 

68,241

 

 

 

(7,716

)

 

 

68,241

 

 

 

(7,716

)

State and municipal

 

 

187

 

 

 

—

 

 

 

—

 

 

 

88,428

 

 

 

(16,845

)

 

 

88,428

 

 

 

(16,845

)

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

 

 

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

152

 

 

 

—

 

 

 

—

 

 

 

209,232

 

 

 

(31,182

)

 

 

209,232

 

 

 

(31,182

)

Collateralized mortgage obligations (CMOs)

 

 

134

 

 

 

24,116

 

 

 

(176

)

 

 

83,609

 

 

 

(13,492

)

 

 

107,725

 

 

 

(13,668

)

Corporate debt and money market funds

 

 

3

 

 

 

—

 

 

 

—

 

 

 

6,301

 

 

 

(256

)

 

 

6,301

 

 

 

(256

)

Total

 

 

511

 

 

$

24,116

 

 

$

(176

)

 

$

455,811

 

 

$

(69,491

)

 

$

479,927

 

 

$

(69,667

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2023

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasury

 

 

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 and money markets

 

 

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. Treasury, U.S. Government agencies, state and municipalities, mortgage-backed securities, CMOs and corporate debt securities, for impairment and considers the current economic conditions, interest rates and the bond rating of each security. The unrealized losses at September 30, 2024 in U.S. Government agency securities, state and municipal securities, mortgage-backed securities, CMOs and corporate debt securities are primarily the result 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.

QNB holds one pooled trust preferred security as of September 30, 2024. This security has a total amortized cost of approximately $57,000 and a fair value of $51,000. The pooled trust preferred security is available-for-sale and is carried at fair value.

Marketable Equity Securities

The Company’s investment in marketable equity securities primarily consists of investments with readily determinable fair values in large cap stock companies. Changes in fair value is recorded in unrealized gain/(losses) in non-interest income.

In April 2024, Visa, Inc. commenced an initial exchange offer for all of its outstanding shares of Class B-1 common stock for a combination of Class B-2 and Class C common shares. The exchange offer was optional for current Class B-1 holders and expired at 11:59 pm on May 3, 2024. QNB elected to participate in the exchange offer including a required makewhole agreement pursuant to which participating Class B-1 stockholders agree to reimburse Visa for future obligations relating to certain litigation which, but for

participation in the exchange offer, would have otherwise been the responsibility of the Class B-1 stockholder as a result of its ownership of the Class B-1 common stock. QNB had 6,502 Class B-1 common shares with a cost basis of $0. Under the exchange offer, QNB received 3,251 shares of Class B-2 common shares and 1,290 Class C shares. The Class C shares were converted into Class A shares. QNB recorded an unrealized gain on the Class A shares in 2024 of $1,419,000 and a reserve of the makewhole agreement of $85,000.

At September 30, 2024 and December 31, 2023, QNB had $2,760,000 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 the three and nine months ended September 30, 2024 and 2023:

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net gains (losses) recognized during the period on equity securities

 

$

367

 

 

$

(7

)

 

$

1,730

 

 

$

(212

)

Less: Net gains recognized during the period on equity securities sold during the period

 

 

224

 

 

 

131

 

 

 

601

 

 

 

442

 

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

 

$

143

 

 

$

(138

)

 

$

1,129

 

 

$

(654

)

Taxes applicable to the net gains (losses) recognized for the three months ended September 30, 2024 resulted in an expense of $99,000 compared to a benefit of $2,000 for the three months ended September 30, 2023. Taxes applicable to the net gains (losses) recognized for the nine months ended September 30, 2024 resulted in an expense of 392,000 compared to a benefit of $61,000 for the nine months ended September 30, 2023. Proceeds from sales of investment equity securities were $6,050,000 and $8,180,000 for the nine months ended September 30, 2024 and 2023, respectively.

v3.24.3
Note 7 - Restricted Investments in Stock
 9 Months Ended
Sep. 30, 2024
Schedule of Investments [Abstract]  
Restricted Investments in Stock

7. RESTRICTED INVESTMENTS IN STOCK

 

Restricted investment in stocks includes Federal Home Loan Bank of Pittsburgh (“FHLB”) with a carrying cost of $2,102,000, Atlantic Community Bankers Bank (“ACBB”) stock with a carrying cost 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 September 30, 2024. FHLB and ACBB stock was issued to the Bank as a requirement to facilitate the Bank’s participation in borrowing and other banking services. The SHCPFIC stock was issued to the Bank to enable its participation in a Community Reinvestment Act qualified investment. The Bank owns 100 shares of preferred stock of SHCPFIC. These shares are not transferable without the consent of SHCPFIC and do not have a readily determinable fair value.The Bank’s investment in FHLB stock may fluctuate, as it is based on the member banks’ use of FHLB’s services.

 

The Bank has a $971,000 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 common 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 (1.5653 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 stock does not have a readily determinable fair value.

 

These restricted investments are carried at cost and evaluated for impairment periodically. As of September 30, 2024, there was no impairment associated with these shares.
v3.24.3
Note 8 - Loans & Allowance for Credit Losses on Loans
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Loans & Allowance for Credit Losses on Loans

8. LOANS & ALLOWANCE FOR CREDIT LOSSES ON LOANS

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 and 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 consists of residential mortgage loans that 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.

The Company maintains an allowance for credit losses on loans, which is intended to absorb probable known and inherent losses in the outstanding loan portfolio. 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 loan losses to a level considered necessary by management.

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

1.
Concentrations: The Company adjusts historic loss for concentrations in the current commercial portfolio that were not present during the down-turn of economic cycle.
2.
Economic Forecast: The Company 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, the Company feels it is prudent to maintain a floor in its model to assure that there is enough reserve on hand to sustain any losses upon an upcoming 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. The Company’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 allowance for loan losses. Management meets monthly to review the credit quality of the loan portfolio and quarterly to review the allowance for loan losses.

In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company's allowance for credit losses on loans. Such agencies may require the Company 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 allowance for credit losses on loans in accordance with Accounting Principles Generally Accepted in the United States of America (U.S. GAAP.) If circumstances differ substantially from the current calculation, future adjustments to the allowance for credit losses on loans 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.

Major classes of loans are as follows:

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Commercial:

 

 

 

 

 

 

Commercial and industrial

 

$

148,530

 

 

$

137,086

 

Construction and land development

 

 

115,819

 

 

 

116,173

 

Real estate secured by multi-family properties

 

 

127,898

 

 

 

109,193

 

Real estate secured by owner-occupied properties

 

 

164,329

 

 

 

160,695

 

Real estate secured by other commercial properties

 

 

302,099

 

 

 

265,101

 

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

 

 

5,662

 

 

 

5,442

 

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

 

 

103,912

 

 

 

103,572

 

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

 

 

2,748

 

 

 

3,445

 

State and political subdivisions

 

 

17,921

 

 

 

18,708

 

Retail:

 

 

 

 

 

 

1-4 family residential mortgages

 

 

111,383

 

 

 

108,906

 

Construction-individual

 

 

—

 

 

 

—

 

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

 

 

47,671

 

 

 

34,231

 

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

 

 

6,981

 

 

 

11,981

 

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

 

 

13,239

 

 

 

15,625

 

Student loans

 

 

1,565

 

 

 

1,662

 

Overdrafts

 

 

325

 

 

 

194

 

Other consumer

 

 

1,737

 

 

 

1,757

 

Total loans

 

 

1,171,819

 

 

 

1,093,771

 

Net unearned (fees) costs

 

 

(458

)

 

 

(238

)

Allowance for credit losses on loans

 

 

(8,987

)

 

 

(8,852

)

Loans receivable, net

 

$

1,162,374

 

 

$

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.

The Company engages in a variety of lending activities, including commercial, residential real estate and consumer transactions. The Company 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 consumer 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 kinds 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 eastern 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 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.

The Company 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.

The Company 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.

The Company 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

The Company 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 risk rating to all loans in the portfolio 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. The Company 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 Company’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 adequacy of the allowance for credit losses on loans.

The following tables present the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system as of September 30, 2024 and December 31, 2023:

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

18,866

 

 

$

17,273

 

 

$

11,648

 

 

$

5,566

 

 

$

3,177

 

 

$

9,074

 

 

$

77,276

 

 

$

142,880

 

Special mention

 

 

—

 

 

 

554

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

554

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

104

 

 

 

715

 

 

 

4,145

 

 

 

5,096

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial and industrial

 

$

18,866

 

 

$

17,827

 

 

$

11,648

 

 

$

5,698

 

 

$

3,281

 

 

$

9,789

 

 

$

81,421

 

 

$

148,530

 

Construction and land development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

34,676

 

 

$

35,756

 

 

$

14,048

 

 

$

13,866

 

 

$

3,270

 

 

$

8,206

 

 

$

—

 

 

$

109,822

 

Special mention

 

 

—

 

 

 

5,961

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,961

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

36

 

 

 

—

 

 

 

36

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction and land development

 

$

34,676

 

 

$

41,717

 

 

$

14,048

 

 

$

13,866

 

 

$

3,270

 

 

$

8,242

 

 

$

—

 

 

$

115,819

 

Real estate secured by multi-family properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

15,374

 

 

$

17,306

 

 

$

27,911

 

 

$

22,647

 

 

$

9,444

 

 

$

31,942

 

 

$

—

 

 

$

124,624

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

476

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,798

 

 

 

—

 

 

 

3,274

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by multi-family properties

 

$

15,374

 

 

$

17,782

 

 

$

27,911

 

 

$

22,647

 

 

$

9,444

 

 

$

34,740

 

 

$

—

 

 

$

127,898

 

Real estate secured by owner-occupied properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

10,051

 

 

$

13,901

 

 

$

27,785

 

 

$

25,145

 

 

$

15,501

 

 

$

58,324

 

 

$

—

 

 

$

150,707

 

Special mention

 

 

62

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

51

 

 

 

—

 

 

 

113

 

Substandard

 

 

—

 

 

 

3,874

 

 

 

921

 

 

 

495

 

 

 

2,156

 

 

 

6,063

 

 

 

—

 

 

 

13,509

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by owner-occupied properties

 

$

10,113

 

 

$

17,775

 

 

$

28,706

 

 

$

25,640

 

 

$

17,657

 

 

$

64,438

 

 

$

—

 

 

$

164,329

 

Real estate secured by other commercial properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

24,479

 

 

$

30,236

 

 

$

69,229

 

 

$

41,135

 

 

$

14,873

 

 

$

118,418

 

 

$

—

 

 

$

298,370

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

667

 

 

 

—

 

 

 

—

 

 

 

2,324

 

 

 

738

 

 

 

—

 

 

 

3,729

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by other commercial properties

 

$

24,479

 

 

$

30,903

 

 

$

69,229

 

 

$

41,135

 

 

$

17,197

 

 

$

119,156

 

 

$

—

 

 

$

302,099

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,662

 

 

$

5,662

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,662

 

 

$

5,662

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

8,292

 

 

$

14,313

 

 

$

26,467

 

 

$

18,992

 

 

$

8,471

 

 

$

26,024

 

 

$

—

 

 

$

102,559

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

133

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

133

 

Substandard

 

 

—

 

 

 

—

 

 

 

342

 

 

 

210

 

 

 

146

 

 

 

522

 

 

 

—

 

 

 

1,220

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

8,292

 

 

$

14,313

 

 

$

26,809

 

 

$

19,335

 

 

$

8,617

 

 

$

26,546

 

 

$

—

 

 

$

103,912

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

15

 

 

$

540

 

 

$

563

 

 

$

182

 

 

$

545

 

 

$

884

 

 

$

—

 

 

$

2,729

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

15

 

 

$

540

 

 

$

582

 

 

$

182

 

 

$

545

 

 

$

884

 

 

$

—

 

 

$

2,748

 

State and political subdivisions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

410

 

 

$

949

 

 

$

—

 

 

$

3,930

 

 

$

10

 

 

$

12,622

 

 

$

—

 

 

$

17,921

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

410

 

 

$

949

 

 

$

—

 

 

$

3,930

 

 

$

10

 

 

$

12,622

 

 

$

—

 

 

$

17,921

 

Total Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

112,163

 

 

$

130,274

 

 

$

177,651

 

 

$

131,463

 

 

$

55,291

 

 

$

265,494

 

 

$

82,938

 

 

$

955,274

 

Special mention

 

 

62

 

 

 

6,515

 

 

 

—

 

 

 

133

 

 

 

—

 

 

 

51

 

 

 

—

 

 

 

6,761

 

Substandard

 

 

—

 

 

 

5,017

 

 

 

1,282

 

 

 

837

 

 

 

4,730

 

 

 

10,872

 

 

 

4,145

 

 

 

26,883

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial loans

 

$

112,225

 

 

$

141,806

 

 

$

178,933

 

 

$

132,433

 

 

$

60,021

 

 

$

276,417

 

 

$

87,083

 

 

$

988,918

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

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

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

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

 

 

 

For retail loans, the Company evaluates credit quality based on the performance of the individual credits. The following tables present the recorded investment in the retail classes of the loan portfolio based on payment activity as of September 30, 2024 and December 31, 2023:

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

7,365

 

 

$

12,495

 

 

$

14,210

 

 

$

28,987

 

 

$

19,231

 

 

$

28,474

 

 

$

—

 

 

$

110,762

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

621

 

 

 

—

 

 

 

621

 

Total 1-4 family residential mortgages

 

$

7,365

 

 

$

12,495

 

 

$

14,210

 

 

$

28,987

 

 

$

19,231

 

 

$

29,095

 

 

$

—

 

 

$

111,383

 

Construction-individual:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction-individual

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

47,351

 

 

$

47,351

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

320

 

 

 

320

 

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

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

47,671

 

 

$

47,671

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

656

 

 

$

738

 

 

$

992

 

 

$

1,070

 

 

$

868

 

 

$

2,536

 

 

$

—

 

 

$

6,860

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

92

 

 

 

—

 

 

 

—

 

 

 

29

 

 

 

—

 

 

 

121

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

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

 

$

656

 

 

$

738

 

 

$

1,084

 

 

$

1,070

 

 

$

868

 

 

$

2,565

 

 

$

—

 

 

$

6,981

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

3,834

 

 

$

3,453

 

 

$

939

 

 

$

1,009

 

 

$

1,002

 

 

$

2,985

 

 

$

—

 

 

$

13,222

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

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

 

$

3,834

 

 

$

3,453

 

 

$

956

 

 

$

1,009

 

 

$

1,002

 

 

$

2,985

 

 

$

—

 

 

$

13,239

 

Student loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,525

 

 

$

—

 

 

$

1,525

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

40

 

 

 

—

 

 

 

40

 

Total student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,565

 

 

$

—

 

 

$

1,565

 

Overdrafts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

325

 

 

$

325

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total overdrafts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

325

 

 

$

325

 

Other consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

601

 

 

$

545

 

 

$

160

 

 

$

127

 

 

$

33

 

 

$

41

 

 

$

199

 

 

$

1,706

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

31

 

 

 

—

 

 

 

31

 

Total other consumer

 

$

601

 

 

$

545

 

 

$

160

 

 

$

127

 

 

$

33

 

 

$

72

 

 

$

199

 

 

$

1,737

 

Total Retail Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

12,456

 

 

$

17,231

 

 

$

16,301

 

 

$

31,193

 

 

$

21,134

 

 

$

35,561

 

 

$

47,875

 

 

$

181,751

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

109

 

 

 

—

 

 

 

—

 

 

 

721

 

 

 

320

 

 

 

1,150

 

Total Retail Loans

 

$

12,456

 

 

$

17,231

 

 

$

16,410

 

 

$

31,193

 

 

$

21,134

 

 

$

36,282

 

 

$

48,195

 

 

$

182,901

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

23

 

 

$

—

 

 

$

23

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

75

 

 

 

75

 

Other consumer

 

 

—

 

 

 

4

 

 

 

8

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

6

 

 

 

22

 

 

 

 

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

 

Construction-individual:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction-individual

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

57

 

 

$

—

 

 

$

57

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91

 

 

 

91

 

Other consumer

 

 

—

 

 

 

1

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

14

 

 

Revolving home equity lines of credit secured by 1-4 family properties termed out during 2024 and 2023 were $2,477,000 and $4,534,000; all of 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 summarized by the past due status as of September 30, 2024 and December 31, 2023:

 

September 30, 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

 

$

2

 

 

$

—

 

 

$

—

 

 

$

2

 

 

$

148,528

 

 

$

148,530

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

115,819

 

 

 

115,819

 

Real estate secured by multi-family properties

 

 

476

 

 

 

—

 

 

 

—

 

 

 

476

 

 

 

127,422

 

 

 

127,898

 

Real estate secured by owner-occupied properties

 

 

171

 

 

 

—

 

 

 

—

 

 

 

171

 

 

 

164,158

 

 

 

164,329

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

302,099

 

 

 

302,099

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,662

 

 

 

5,662

 

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

 

 

135

 

 

 

—

 

 

 

—

 

 

 

135

 

 

 

103,777

 

 

 

103,912

 

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

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

2,747

 

 

 

2,748

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17,921

 

 

 

17,921

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

312

 

 

 

418

 

 

 

730

 

 

 

110,653

 

 

 

111,383

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

49

 

 

 

120

 

 

 

—

 

 

 

169

 

 

 

47,502

 

 

 

47,671

 

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

 

 

128

 

 

 

—

 

 

 

92

 

 

 

220

 

 

 

6,761

 

 

 

6,981

 

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

 

 

—

 

 

 

96

 

 

 

17

 

 

 

113

 

 

 

13,126

 

 

 

13,239

 

Student loans

 

 

—

 

 

 

—

 

 

 

29

 

 

 

29

 

 

 

1,536

 

 

 

1,565

 

Overdrafts

 

 

16

 

 

 

4

 

 

 

—

 

 

 

20

 

 

 

305

 

 

 

325

 

Other consumer

 

 

—

 

 

 

5

 

 

 

—

 

 

 

5

 

 

 

1,732

 

 

 

1,737

 

Total

 

$

978

 

 

$

537

 

 

$

556

 

 

$

2,071

 

 

$

1,169,748

 

 

$

1,171,819

 

 

 

 

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

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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, the Company 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 impaired loans. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. 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 less costs to sell if the loan is collateral dependent.

An ACL is established for a non-accrual loan if its carrying value exceeds its estimated fair value. The estimated fair values of the majority of the Company’s non-accrual loans are measured based on the estimated fair value of the loan’s collateral less costs to sell.

For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. When a real estate secured loan becomes individually evaluated, 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 discloses 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 September 30, 2024 and December 31, 2023:

 

September 30, 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

 

$

—

 

 

$

—

 

 

$

29

 

 

$

29

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

—

 

 

 

308

 

 

 

—

 

 

 

308

 

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

 

 

—

 

 

 

209

 

 

 

—

 

 

 

209

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

621

 

 

 

—

 

 

 

621

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

—

 

 

 

186

 

 

 

134

 

 

 

320

 

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

 

 

—

 

 

 

121

 

 

 

—

 

 

 

121

 

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

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Student loans

 

 

—

 

 

 

40

 

 

 

—

 

 

 

40

 

Other consumer

 

 

—

 

 

 

31

 

 

 

—

 

 

 

31

 

Total

 

$

—

 

 

$

1,533

 

 

$

163

 

 

$

1,696

 

 

 

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

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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 $51,000 and $557,000 on non-accrual loans during the nine months ended September 30, 2024 and 2023, respectively.

 

The following tables present the collateral-dependent loans by loan category at September 30, 2024 and December 31, 2023:

 

September 30, 2024

 

Real Estate Secured

 

 

Other (1)

 

 

Deficiency in Collateral

 

 

Total Collateral Dependent Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

29

 

 

$

29

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

308

 

 

 

—

 

 

 

—

 

 

 

308

 

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

 

 

209

 

 

 

 

 

 

 

 

 

209

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

621

 

 

 

—

 

 

 

—

 

 

 

621

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

229

 

 

 

—

 

 

 

91

 

 

 

320

 

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

 

 

121

 

 

 

—

 

 

 

—

 

 

 

121

 

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

 

 

17

 

 

 

—

 

 

 

—

 

 

 

17

 

Other consumer

 

 

—

 

 

 

31

 

 

 

—

 

 

 

31

 

Total

 

$

1,505

 

 

$

31

 

 

$

120

 

 

$

1,656

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

 

 

 

 

Activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2024 and 2023 are as follows:

 

For the Three Months Ended September 30, 2024

 

Balance, beginning of period

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

920

 

 

$

(8

)

 

$

—

 

 

$

12

 

 

$

924

 

Construction and land development

 

 

1,388

 

 

 

(90

)

 

 

—

 

 

 

—

 

 

 

1,298

 

Real estate secured by multi-family properties

 

 

1,818

 

 

 

203

 

 

 

—

 

 

 

—

 

 

 

2,021

 

Real estate secured by owner-occupied properties

 

 

970

 

 

 

(62

)

 

 

—

 

 

 

—

 

 

 

908

 

Real estate secured by other commercial properties

 

 

1,246

 

 

 

41

 

 

 

—

 

 

 

—

 

 

 

1,287

 

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

 

 

23

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

27

 

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

 

 

1,298

 

 

 

(16

)

 

 

—

 

 

 

2

 

 

 

1,284

 

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

 

 

11

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11

 

State and political subdivisions

 

 

44

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

47

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

380

 

 

 

11

 

 

 

—

 

 

 

3

 

 

 

394

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

166

 

 

 

9

 

 

 

—

 

 

 

—

 

 

 

175

 

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

 

 

134

 

 

 

(5

)

 

 

—

 

 

 

—

 

 

 

129

 

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

 

 

79

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

82

 

Student loans

 

 

336

 

 

 

15

 

 

 

(17

)

 

 

2

 

 

 

336

 

Overdrafts

 

 

13

 

 

 

29

 

 

 

(22

)

 

 

8

 

 

 

28

 

Other consumer

 

 

32

 

 

 

17

 

 

 

(14

)

 

 

1

 

 

 

36

 

Total

 

$

8,858

 

 

$

154

 

 

$

(53

)

 

$

28

 

 

$

8,987

 

 

 

 

For the Three Months Ended September 30, 2023

 

Balance, beginning of period

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

795

 

 

$

256

 

 

$

(273

)

 

$

11

 

 

$

789

 

Construction and land development

 

 

854

 

 

 

234

 

 

 

—

 

 

 

—

 

 

 

1,088

 

Real estate secured by multi-family properties

 

 

1,624

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

1,709

 

Real estate secured by owner-occupied properties

 

 

985

 

 

 

20

 

 

 

—

 

 

 

—

 

 

 

1,005

 

Real estate secured by other commercial properties

 

 

1,228

 

 

 

(102

)

 

 

—

 

 

 

—

 

 

 

1,126

 

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

 

 

37

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

36

 

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

 

 

1,277

 

 

 

(2

)

 

 

—

 

 

 

3

 

 

 

1,278

 

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

 

 

234

 

 

 

(24

)

 

 

—

 

 

 

—

 

 

 

210

 

State and political subdivisions

 

 

51

 

 

 

5

 

 

 

—

 

 

 

—

 

 

 

56

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

433

 

 

 

(17

)

 

 

—

 

 

 

—

 

 

 

416

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

234

 

 

 

(103

)

 

 

—

 

 

 

—

 

 

 

131

 

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

 

 

67

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

70

 

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

 

 

86

 

 

 

109

 

 

 

—

 

 

 

2

 

 

 

197

 

Student loans

 

 

418

 

 

 

(36

)

 

 

—

 

 

 

2

 

 

 

384

 

Overdrafts

 

 

13

 

 

 

15

 

 

 

(21

)

 

 

7

 

 

 

14

 

Other consumer

 

 

29

 

 

 

10

 

 

 

(6

)

 

 

—

 

 

 

33

 

Total

 

$

8,365

 

 

$

452

 

 

$

(300

)

 

$

25

 

 

$

8,542

 

 

For the Nine Months Ended September 30, 2024

 

Balance, beginning of period

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

823

 

 

$

87

 

 

$

(23

)

 

$

37

 

 

$

924

 

Construction and land development

 

 

1,252

 

 

 

46

 

 

 

—

 

 

 

—

 

 

 

1,298

 

Real estate secured by multi-family properties

 

 

1,735

 

 

 

286

 

 

 

—

 

 

 

—

 

 

 

2,021

 

Real estate secured by owner-occupied properties

 

 

1,001

 

 

 

(93

)

 

 

—

 

 

 

—

 

 

 

908

 

Real estate secured by other commercial properties

 

 

1,167

 

 

 

120

 

 

 

—

 

 

 

—

 

 

 

1,287

 

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

 

 

27

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27

 

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

 

 

1,507

 

 

 

(230

)

 

 

—

 

 

 

7

 

 

 

1,284

 

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

 

 

14

 

 

 

(3

)

 

 

—

 

 

 

—

 

 

 

11

 

State and political subdivisions

 

 

55

 

 

 

(8

)

 

 

—

 

 

 

—

 

 

 

47

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

427

 

 

 

(36

)

 

 

—

 

 

 

3

 

 

 

394

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

138

 

 

 

37

 

 

 

—

 

 

 

—

 

 

 

175

 

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

 

 

182

 

 

 

(53

)

 

 

—

 

 

 

—

 

 

 

129

 

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

 

 

105

 

 

 

(23

)

 

 

—

 

 

 

—

 

 

 

82

 

Student loans

 

 

369

 

 

 

(20

)

 

 

(23

)

 

 

10

 

 

 

336

 

Overdrafts

 

 

16

 

 

 

65

 

 

 

(75

)

 

 

22

 

 

 

28

 

Other consumer

 

 

34

 

 

 

18

 

 

 

(22

)

 

 

6

 

 

 

36

 

Total

 

$

8,852

 

 

$

193

 

 

$

(143

)

 

$

85

 

 

$

8,987

 

 

For the Nine Months Ended September 30, 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

)

 

$

(759

)

 

$

(313

)

 

$

615

 

 

$

789

 

Construction and land development

 

 

755

 

 

 

(10

)

 

 

343

 

 

 

—

 

 

 

—

 

 

 

1,088

 

Real estate secured by multi-family properties

 

 

995

 

 

 

684

 

 

 

30

 

 

 

—

 

 

 

—

 

 

 

1,709

 

Real estate secured by owner-occupied properties

 

 

1,549

 

 

 

(374

)

 

 

(170

)

 

 

—

 

 

 

—

 

 

 

1,005

 

Real estate secured by other commercial properties

 

 

2,458

 

 

 

(1,128

)

 

 

(204

)

 

 

—

 

 

 

—

 

 

 

1,126

 

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

 

 

25

 

 

 

7

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

36

 

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

 

 

1,210

 

 

 

490

 

 

 

(430

)

 

 

—

 

 

 

8

 

 

 

1,278

 

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

 

 

30

 

 

 

(14

)

 

 

194

 

 

 

—

 

 

 

—

 

 

 

210

 

State and political subdivisions

 

 

94

 

 

 

(20

)

 

 

(18

)

 

 

—

 

 

 

—

 

 

 

56

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

682

 

 

 

(196

)

 

 

(70

)

 

 

—

 

 

 

—

 

 

 

416

 

Construction-individual

 

 

1

 

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

299

 

 

 

(7

)

 

 

(161

)

 

 

—

 

 

 

—

 

 

 

131

 

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

 

 

57

 

 

 

15

 

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

70

 

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

 

 

55

 

 

 

29

 

 

 

107

 

 

 

—

 

 

 

6

 

 

 

197

 

Student loans

 

 

454

 

 

 

12

 

 

 

(45

)

 

 

(43

)

 

 

6

 

 

 

384

 

Overdrafts

 

 

8

 

 

 

3

 

 

 

54

 

 

 

(73

)

 

 

22

 

 

 

14

 

Other consumer

 

 

41

 

 

 

(8

)

 

 

9

 

 

 

(9

)

 

 

—

 

 

 

33

 

Unallocated

 

 

502

 

 

 

(502

)

 

 

—

 

 

N/A

 

 

N/A

 

 

 

—

 

Total

 

$

10,531

 

 

$

(1,089

)

 

$

(1,119

)

 

$

(438

)

 

$

657

 

 

$

8,542

 

Since the implementation of ASC 326 on January 1, 2023, the Company may give 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. Any amount forgiven would be charged to the allowance for credit losses. There were no FDMs in 2024 or 2023.

The Company has one relationship secured by residential real estate totaling $341,000 for which foreclosure proceedings are in process at September 30, 2024.
v3.24.3
Note 9 - Fair Value Measurements and Disclosures
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Disclosures

9. FAIR VALUE MEASUREMENTS AND DISCLOSURES

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 U.S. 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.

The following table sets forth QNB’s financial assets measured at fair value on a recurring and nonrecurring basis and the fair value measurements by level within the fair value hierarchy as of September 30, 2024:

 

September 30, 2024

 

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

 

 

Significant other observable inputs
(Level 2)

 

 

Significant unobservable inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

—

 

 

$

19,005

 

 

$

—

 

 

$

19,005

 

U.S. Government agency securities

 

 

—

 

 

 

68,241

 

 

 

—

 

 

 

68,241

 

State and municipal securities (1)

 

 

—

 

 

 

87,414

 

 

 

—

 

 

 

87,414

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities (1)

 

 

—

 

 

 

205,742

 

 

 

—

 

 

 

205,742

 

Collateralized mortgage obligations (CMOs)

 

 

—

 

 

 

123,173

 

 

 

—

 

 

 

123,173

 

Corporate debt securities and money market funds

 

 

—

 

 

 

6,410

 

 

 

51

 

 

 

6,461

 

Total debt securities available-for-sale

 

 

—

 

 

 

509,985

 

 

 

51

 

 

 

510,036

 

Equity securities

 

 

2,760

 

 

 

—

 

 

 

—

 

 

 

2,760

 

Total recurring fair value measurements

 

$

2,760

 

 

$

509,985

 

 

$

51

 

 

$

512,796

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

—

 

 

$

—

 

 

$

43

 

 

$

43

 

Mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

5

 

 

 

5

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

48

 

 

$

48

 

 

December 31, 2023

 

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

 

 

Significant other observable inputs
(Level 2)

 

 

Significant unobservable inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Debt 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 debt 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 as discussed in Note 12

 

 

 

There were no transfers in and out of Level 1, Level 2, or Level 3 fair value measurements during the three or nine months ended September 30, 2024. 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 three- or nine-month periods ended September 30, 2024.

 

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

 

September 30, 2024

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
inputs

 

 

Value or range
of values

 

Collateral dependent loans

 

$

43

 

 

Appraisal of collateral

(1)

 

Appraisal adjustments

(2)

 

-20% to -100%

 

 

 

 

 

 

 

 

 

Liquidation expenses

(3)

 

 

-10

%

Mortgage servicing rights

 

 

5

 

 

Discounted cash flow

 

 

Remaining term

 

 

1 to 30 years

 

 

 

 

 

 

 

 

 

Prepayment speeds

 

 

105% to 201%

 

 

 

 

 

 

 

 

 

Discount rate

 

 

12.0% to 12.5%

 

 

 

 

Quantitative information about Level 3 fair value measurements

December 31, 2023

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
inputs

 

 

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

 

 

2 to 30 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 available-for-sale securities 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 nine months ended September 30, 2024 and 2023:

 

 

 

Fair value measurements
using significant
unobservable inputs
(Level 3)

 

 

 

2024

 

 

2023

 

Balance, January 1,

 

$

52

 

 

$

53

 

Payments received

 

 

(1

)

 

 

(1

)

Total gains or losses (realized/unrealized)

 

 

 

 

 

 

Included in earnings

 

 

—

 

 

 

—

 

Included in other comprehensive (loss) income

 

 

—

 

 

 

—

 

Transfers in and/or out of Level 3

 

 

—

 

 

 

—

 

Balance, September 30,

 

$

51

 

 

$

52

 

 

The Level 3 securities consist of one collateralized debt obligation security, the PreTSL security, which is backed by trust preferred securities issued by banks. The market for this security at September 30, 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 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 September 30, 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
•
The PreTSL will be classified within Level 3 of the fair value hierarchy because significant adjustments are required to determine fair value at the measurement date.

QNB used an independent third party to value this security using a discounted cash flow analysis. Based on management’s review of the bond’s three underlying issuers, 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 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 the PreTSL security, which is priced using the 3-month LIBOR as a reference rate. The discount rate of 7.90% 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 the entire Company 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 September 30, 2024 and December 31, 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 Atlantic Community Bankers Bank, the Federal Home Loan Bank, VISA Class B-2 SHCPFIC and NEIF is the carrying amount, based on redemption provisions, and considers the limited marketability of and restrictions on 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 liquidity, 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). 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 values for QNB’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 the Company’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 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 period end.

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

 

 

 

 

 

 

 

 

 

Fair value measurements

 

September 30, 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

 

$

104,232

 

 

$

104,232

 

 

$

104,232

 

 

$

—

 

 

$

—

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale (1)

 

 

510,036

 

 

 

510,036

 

 

 

—

 

 

 

509,985

 

 

 

51

 

Equities

 

 

2,760

 

 

 

2,760

 

 

 

2,760

 

 

 

—

 

 

 

—

 

Restricted investment in stocks

 

 

4,085

 

 

 

4,085

 

 

 

—

 

 

 

4,085

 

 

 

—

 

Loans held for sale

 

 

294

 

 

 

298

 

 

 

—

 

 

 

298

 

 

 

—

 

Net loans

 

 

1,162,374

 

 

 

1,178,681

 

 

 

—

 

 

 

—

 

 

 

1,178,681

 

Mortgage servicing rights

 

 

392

 

 

 

561

 

 

 

—

 

 

 

—

 

 

 

561

 

Accrued interest receivable

 

 

4,472

 

 

 

4,472

 

 

 

—

 

 

 

4,472

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with no stated maturities

 

$

1,245,649

 

 

$

1,245,649

 

 

$

1,245,649

 

 

$

—

 

 

$

—

 

Deposits with stated maturities

 

 

380,635

 

 

 

379,723

 

 

 

—

 

 

 

379,723

 

 

 

—

 

Short-term borrowings

 

 

22,918

 

 

 

22,918

 

 

 

22,918

 

 

 

—

 

 

 

—

 

Long-term debt

 

 

30,000

 

 

 

30,060

 

 

 

—

 

 

 

30,060

 

 

 

—

 

Subordinated debt

 

 

39,030

 

 

 

39,700

 

 

 

—

 

 

 

39,700

 

 

 

—

 

Accrued interest payable

 

 

4,738

 

 

 

4,738

 

 

 

—

 

 

 

4,738

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Standby letters of credit

 

 

—

 

 

 

36

 

 

 

—

 

 

 

36

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

—

 

Loans 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 as discussed in Note 12

 

 

 

 

 
v3.24.3
Note 10 - Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

10. 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 $99,000 at September 30, 2024 and $106,000 at December 31, 2023, which is included in other liabilities on the Consolidated Balance Sheets.

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

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Commitments to extend credit and unused lines of credit

 

$

387,142

 

 

$

378,954

 

Standby letters of credit

 

 

18,457

 

 

 

18,820

 

Total financial instrument commitments

 

$

405,599

 

 

$

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 Company 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 Company uses the same credit policies in making conditional obligations as it does for on-balance sheet instruments. Standby letters of credit of $12,741,000 will 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 Company requires collateral and personal guarantees supporting these letters of credit as deemed necessary. 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 September 30, 2024 and December 31, 2023 for guarantees under standby letters of credit issued is not material.

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.

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. 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. There were two lease renewals during the nine months ended September 30, 2024.
v3.24.3
Note 11 - Regulatory Restrictions
 9 Months Ended
Sep. 30, 2024
Regulated Operations [Abstract]  
Regulatory Restrictions

11. REGULATORY RESTRICTIONS

Dividends payable by QNB and the Bank are subject to various limitations imposed by statutes, regulations and policies adopted by bank regulatory agencies. Under Federal and Pennsylvania 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 QNB, unless such loans are collateralized by specific obligations.

Both QNB and the Bank are subject to regulatory capital requirements administered by Federal banking 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, 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 September 30, 2024, that QNB and the Bank met capital adequacy requirements to which they were subject.

As of the most recent notification, the primary regulator of the Bank considered it to be “well capitalized” under the regulatory framework. There are no conditions or events since that notification that management believes have changed the classification. To be categorized as well capitalized, bank holding companies and insured depository institutions must maintain minimum ratios as set forth in the following table below.

The Company and the Bank’s actual capital amounts and ratios are presented as follows:

 

 

 

Capital levels

 

 

 

Actual

 

 

Adequately capitalized

 

 

Well capitalized

 

September 30, 2024

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

$

213,025

 

 

 

15.99

%

 

$

106,610

 

 

 

8.00

%

 

$

133,262

 

 

 

10.00

%

Bank

 

 

190,951

 

 

 

14.38

 

 

 

106,265

 

 

8.00

 

 

 

132,831

 

 

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

$

163,939

 

 

 

12.30

 

 

 

79,957

 

 

6.00

 

 

 

79,957

 

 

6.00

 

Bank

 

 

181,865

 

 

 

13.69

 

 

 

79,699

 

 

6.00

 

 

 

106,265

 

 

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

163,939

 

 

 

12.30

 

 

 

59,968

 

 

4.50

 

 

N/A

 

 

N/A

 

Bank

 

 

181,865

 

 

 

13.69

 

 

 

59,774

 

 

4.50

 

 

 

86,340

 

 

6.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

163,939

 

 

 

8.83

 

 

 

74,241

 

 

4.00

 

 

N/A

 

 

N/A

 

Bank

 

 

181,865

 

 

 

9.89

 

 

 

73,542

 

 

4.00

 

 

 

91,927

 

 

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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

$

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 1 capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

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 1 capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

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

 
v3.24.3
Note 12 - Derivatives and Hedging Activities
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Activities

12. 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 investment securities, included in a closed portfolio, for changes in the Secured Overnight Financing Rate ("SOFR"). The effective 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 tables present the notional amounts of derivatives designated as fair value hedging instruments at September 30, 2024, and December 31, 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.

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

 

 

At September 30, 2024

 

 

At December 31, 2023

 

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

 

 

$

96,878

 

 

$

(1,368

)

 

$

75,000

 

 

$

97,373

 

 

$

(445

)

U.S. Government agencies and GSE mortgage backed securities

 

 

225,000

 

 

 

317,863

 

 

 

(3,613

)

 

 

225,000

 

 

 

343,453

 

 

 

(1,304

)

Total

 

$

300,000

 

 

$

414,741

 

 

$

(4,981

)

 

$

300,000

 

 

$

440,826

 

 

$

(1,749

)

 

The following table presents amounts included in the Consolidated Statements on Income for derivatives designated as fair value hedging instruments for the three and nine months ended September 30, 2024 and 2023.

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

Income Sheet Classification

 

2024

 

 

2023

 

 

2024

 

 

2023

 

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

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal securities

 

 

 

 

 

 

 

 

 

 

 

 

Recognized on fair value hedge

 

$

1,007

 

 

$

976

 

 

$

3,017

 

 

$

1,166

 

Recognized on hedge portfolio

 

 

(661

)

 

 

(660

)

 

 

(1,989

)

 

 

(794

)

Recognized on remeasurement of fair value hedge

 

 

57

 

 

 

(21

)

 

 

47

 

 

 

(35

)

U.S. Government agencies and GSE mortgage backed securities

 

 

 

 

 

 

 

 

 

 

 

 

Recognized on fair value hedge

 

 

3,075

 

 

 

2,916

 

 

 

9,070

 

 

 

3,485

 

Recognized on hedge portfolio

 

 

(2,106

)

 

 

(2,015

)

 

 

(6,182

)

 

 

(2,422

)

Recognized on remeasurement of fair value hedge

 

 

93

 

 

 

(6

)

 

 

81

 

 

 

(30

)

Total

 

$

1,465

 

 

$

1,190

 

 

$

4,044

 

 

$

1,370

 

 

The following table presents amounts included in accumulated other comprehensive gain (loss) income for derivatives designated as fair value hedging instruments at September 30, 2024 and December 31, 2023.

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

Balance Sheet Classification

 

At September 30, 2024

 

 

At December 31, 2023

 

Net unrealized holding losses on fair value hedge, net of tax

 

$

(3,913

)

 

$

(1,382

)

Total

 

$

(3,913

)

 

$

(1,382

)
v3.24.3
Note 13 - Subordinated Debt
 9 Months Ended
Sep. 30, 2024
Subordinated Borrowings [Abstract]  
Subordinated Debt

13. 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 balance sheet represents the outstanding balance of the notes net of unamortized origination costs of $970,000 which are amortized to interest expense through September 1, 2029.
v3.24.3
Note 3 - Stock-based Compensation and Shareholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
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 period:

 

For the Nine Months Ended September 30,

 

2024

 

 

2023

 

Risk free interest rate

 

 

3.98

%

 

 

3.64

%

Dividend yield

 

 

5.97

%

 

 

4.80

%

Volatility

 

 

20.96

%

 

 

20.36

%

Expected life (years)

 

 

8.19

 

 

 

8.35

 
Stock Option Activity

Stock option activity during the nine months ended September 30, 2024 and 2023 is as follows:

 

 

Number
of options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual term
(in years)

 

 

Aggregate
intrinsic value

 

Outstanding at December 31, 2023

 

 

121,550

 

 

$

34.29

 

 

 

 

 

$

—

 

Granted

 

 

40,000

 

 

 

23.40

 

 

 

 

 

 

244

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

—

 

Forfeited

 

 

(24,275

)

 

 

37.69

 

 

 

 

 

 

—

 

Outstanding at September 30, 2024

 

 

137,275

 

 

$

30.51

 

 

 

5.49

 

 

$

244

 

Exercisable at September 30, 2024

 

 

45,315

 

 

$

33.74

 

 

 

2.01

 

 

$

—

 

 

 

 

 

Number
of options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
remaining
contractual term
(in years)

 

 

Aggregate
intrinsic value

 

Outstanding at December 31, 2022

 

 

109,150

 

 

$

37.65

 

 

 

 

 

$

—

 

Granted

 

 

35,000

 

 

 

29.51

 

 

 

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

—

 

Forfeited

 

 

(22,600

)

 

 

43.15

 

 

 

 

 

 

—

 

Outstanding at September 30, 2023

 

 

121,550

 

 

$

34.29

 

 

 

4.09

 

 

$

—

 

Exercisable at September 30, 2023

 

 

41,375

 

 

$

37.37

 

 

 

0.85

 

 

$

—

 
v3.24.3
Note 4 - Earnings Per Share & Share Repurchase Plan (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

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

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator for basic and diluted earnings per share - net income

 

$

3,338

 

 

$

2,344

 

 

$

8,397

 

 

$

8,349

 

Denominator for basic earnings per share - weighted
   average shares outstanding

 

 

3,679,799

 

 

 

3,613,230

 

 

 

3,666,937

 

 

 

3,600,137

 

Effect of dilutive securities - employee stock options

 

 

2,974

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

3,682,773

 

 

 

3,613,230

 

 

 

3,666,937

 

 

 

3,600,137

 

Earnings per share - basic

 

$

0.91

 

 

$

0.65

 

 

$

2.29

 

 

$

2.32

 

Earnings per share - diluted

 

 

0.91

 

 

 

0.65

 

 

 

2.29

 

 

 

2.32

 
v3.24.3
Note 5 - Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2024
Other Comprehensive Loss, Tax [Abstract]  
Components of Accumulated Other Comprehensive Loss

The following shows the components of accumulated other comprehensive loss at September 30, 2024 and December 31, 2023:

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Unrealized net holding losses on available-for-sale
   securities

 

$

(69,625

)

 

$

(84,247

)

Unrealized net holding losses on fair value hedge

 

 

(4,981

)

 

 

(1,749

)

Accumulated other loss

 

 

(74,606

)

 

 

(85,996

)

Tax effect

 

 

15,999

 

 

 

18,059

 

Accumulated other comprehensive loss, net of tax

 

$

(58,607

)

 

$

(67,937

)

 

 

 

 

 

 

 
Amounts Reclassified Out of Accumulated Other Comprehensive Loss

The following table presents amounts reclassified out of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023:

 

For the Three Months Ended September 30,

 

Amount reclassified from
accumulated other
comprehensive loss

 

 

 

Details about accumulated other comprehensive loss

 

2024

 

 

2023

 

 

Affected line item in statement of income

Unrealized net holding gains (losses) on available-for-sale securities

 

$

—

 

 

$

—

 

 

Net gain (loss) on sales of investments available-for-sale

Fair value remeasurements on fair value hedges

 

 

150

 

 

 

(26

)

 

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

 

 

 

150

 

 

 

(26

)

 

 

Tax effect

 

 

(31

)

 

 

5

 

 

Provision for income taxes

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

 

$

119

 

 

$

(21

)

 

Net of tax

 

For the Nine Months Ended September 30,

 

Amount reclassified from
accumulated other
comprehensive loss

 

 

 

Details about accumulated other comprehensive loss

 

2024

 

 

2023

 

 

Affected line item in statement of income

Unrealized net holding losses on available-for-sale securities

 

$

(1,096

)

 

$

(257

)

 

Net gain (loss) on sales of investments available-for-sale

Fair value remeasurements on fair value hedges

 

 

128

 

 

 

(64

)

 

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

 

 

 

(968

)

 

 

(321

)

 

 

Tax effect

 

 

203

 

 

 

67

 

 

Provision for income taxes

Total reclassification out of accumulated other comprehensive loss, net of tax

 

$

(765

)

 

$

(254

)

 

Net of tax
v3.24.3
Note 6 - Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Debt Securities Available-for-sale

The amortized cost and estimated fair values of investment securities available-for-sale at September 30, 2024 and December 31, 2023 were as follows:

 

 

 

Fair

 

 

Gross unrealized holding

 

 

Gross unrealized holding

 

 

Gross unrealized fair value hedge

 

 

Amortized

 

September 30, 2024

 

value

 

 

gains

 

 

losses

 

 

gains (1)

 

 

cost

 

U.S. Treasury

 

$

19,005

 

 

$

20

 

 

$

—

 

 

$

—

 

 

$

18,985

 

U.S. Government agency

 

 

68,241

 

 

 

—

 

 

 

(7,716

)

 

 

—

 

 

 

75,957

 

State and municipal

 

 

87,414

 

 

 

—

 

 

 

(16,845

)

 

 

(1,368

)

 

 

105,627

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

205,742

 

 

 

—

 

 

 

(31,182

)

 

 

(3,613

)

 

 

240,537

 

Collateralized mortgage obligations (CMOs)

 

 

123,173

 

 

 

—

 

 

 

(13,668

)

 

 

—

 

 

 

136,841

 

Corporate debt and money market funds

 

 

6,461

 

 

 

22

 

 

 

(256

)

 

 

—

 

 

 

6,695

 

Total investment debt securities available-for-sale

 

$

510,036

 

 

$

42

 

 

$

(69,667

)

 

$

(4,981

)

 

$

584,642

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

 

unrealized

 

 

unrealized

 

 

unrealized

 

 

 

 

 

 

Fair

 

 

holding

 

 

holding

 

 

fair value hedge

 

 

Amortized

 

December 31, 2023

 

value

 

 

gains

 

 

losses

 

 

losses (1)

 

 

cost

 

U.S. Treasury

 

$

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 and money market funds

 

 

6,209

 

 

 

2

 

 

 

(496

)

 

 

—

 

 

 

6,703

 

Total investment debt securities available-for-sale

 

$

490,182

 

 

$

5

 

 

$

(84,252

)

 

$

(1,749

)

 

$

576,178

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) See Note 12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Investment Securities by Contractual Maturity The amortized cost and estimated fair value of securities available-for-sale by contractual maturity at September 30, 2024 is shown in the following table.

 

 

 

 

 

 

 

 

September 30, 2024

 

Fair value

 

 

Amortized cost

 

Due in one year or less

 

$

21,210

 

 

$

21,180

 

Due after one year through five years

 

 

57,700

 

 

 

63,288

 

Due after five years through ten years

 

 

33,018

 

 

 

38,835

 

Due after ten years

 

 

69,193

 

 

 

83,961

 

 

 

 

181,121

 

 

 

207,264

 

Residential mortgage-backed securities

 

 

205,742

 

 

 

240,537

 

Collateralized mortgage obligations

 

 

123,173

 

 

 

136,841

 

Total

 

$

510,036

 

 

$

584,642

 

 

 
Realized Gain (Loss) on Investments The following table presents information related to the Company’s gains and losses on the sales and calls of securities available-for-sale, and losses recognized for the impairment of these investments.

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Gross realized gains

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Gross realized losses

 

 

—

 

 

 

 

 

 

(1,096

)

 

 

(257

)

Impairment

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total net gains (losses) on AFS securities

 

$

—

 

 

$

—

 

 

$

(1,096

)

 

$

(257

)
Debt Securities in a Continuous Unrealized Loss Position

The following table indicates the length of time individual debt securities have been in a continuous unrealized loss position as of September 30, 2024 and December 31, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

September 30, 2024

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasury

 

 

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

U.S. Government agency

 

 

35

 

 

 

—

 

 

 

—

 

 

 

68,241

 

 

 

(7,716

)

 

 

68,241

 

 

 

(7,716

)

State and municipal

 

 

187

 

 

 

—

 

 

 

—

 

 

 

88,428

 

 

 

(16,845

)

 

 

88,428

 

 

 

(16,845

)

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

 

 

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed

 

 

152

 

 

 

—

 

 

 

—

 

 

 

209,232

 

 

 

(31,182

)

 

 

209,232

 

 

 

(31,182

)

Collateralized mortgage obligations (CMOs)

 

 

134

 

 

 

24,116

 

 

 

(176

)

 

 

83,609

 

 

 

(13,492

)

 

 

107,725

 

 

 

(13,668

)

Corporate debt and money market funds

 

 

3

 

 

 

—

 

 

 

—

 

 

 

6,301

 

 

 

(256

)

 

 

6,301

 

 

 

(256

)

Total

 

 

511

 

 

$

24,116

 

 

$

(176

)

 

$

455,811

 

 

$

(69,491

)

 

$

479,927

 

 

$

(69,667

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or longer

 

 

Total

 

 

 

No. of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2023

 

securities

 

 

value

 

 

losses

 

 

value

 

 

losses

 

 

value

 

 

losses

 

U.S. Treasury

 

 

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 and money markets

 

 

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 the three and nine months ended September 30, 2024 and 2023:

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net gains (losses) recognized during the period on equity securities

 

$

367

 

 

$

(7

)

 

$

1,730

 

 

$

(212

)

Less: Net gains recognized during the period on equity securities sold during the period

 

 

224

 

 

 

131

 

 

 

601

 

 

 

442

 

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

 

$

143

 

 

$

(138

)

 

$

1,129

 

 

$

(654

)
v3.24.3
Note 8 - Loans & Allowance for Credit Losses on Loans (Tables) - Retail and Commercial Loans [Member]
 9 Months Ended
Sep. 30, 2024
Major Classes of Loans

Major classes of loans are as follows:

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Commercial:

 

 

 

 

 

 

Commercial and industrial

 

$

148,530

 

 

$

137,086

 

Construction and land development

 

 

115,819

 

 

 

116,173

 

Real estate secured by multi-family properties

 

 

127,898

 

 

 

109,193

 

Real estate secured by owner-occupied properties

 

 

164,329

 

 

 

160,695

 

Real estate secured by other commercial properties

 

 

302,099

 

 

 

265,101

 

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

 

 

5,662

 

 

 

5,442

 

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

 

 

103,912

 

 

 

103,572

 

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

 

 

2,748

 

 

 

3,445

 

State and political subdivisions

 

 

17,921

 

 

 

18,708

 

Retail:

 

 

 

 

 

 

1-4 family residential mortgages

 

 

111,383

 

 

 

108,906

 

Construction-individual

 

 

—

 

 

 

—

 

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

 

 

47,671

 

 

 

34,231

 

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

 

 

6,981

 

 

 

11,981

 

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

 

 

13,239

 

 

 

15,625

 

Student loans

 

 

1,565

 

 

 

1,662

 

Overdrafts

 

 

325

 

 

 

194

 

Other consumer

 

 

1,737

 

 

 

1,757

 

Total loans

 

 

1,171,819

 

 

 

1,093,771

 

Net unearned (fees) costs

 

 

(458

)

 

 

(238

)

Allowance for credit losses on loans

 

 

(8,987

)

 

 

(8,852

)

Loans receivable, net

 

$

1,162,374

 

 

$

1,084,681

 
Internal Risk Ratings and Payment Activity

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Commercial Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

18,866

 

 

$

17,273

 

 

$

11,648

 

 

$

5,566

 

 

$

3,177

 

 

$

9,074

 

 

$

77,276

 

 

$

142,880

 

Special mention

 

 

—

 

 

 

554

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

554

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

104

 

 

 

715

 

 

 

4,145

 

 

 

5,096

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial and industrial

 

$

18,866

 

 

$

17,827

 

 

$

11,648

 

 

$

5,698

 

 

$

3,281

 

 

$

9,789

 

 

$

81,421

 

 

$

148,530

 

Construction and land development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

34,676

 

 

$

35,756

 

 

$

14,048

 

 

$

13,866

 

 

$

3,270

 

 

$

8,206

 

 

$

—

 

 

$

109,822

 

Special mention

 

 

—

 

 

 

5,961

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,961

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

36

 

 

 

—

 

 

 

36

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction and land development

 

$

34,676

 

 

$

41,717

 

 

$

14,048

 

 

$

13,866

 

 

$

3,270

 

 

$

8,242

 

 

$

—

 

 

$

115,819

 

Real estate secured by multi-family properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

15,374

 

 

$

17,306

 

 

$

27,911

 

 

$

22,647

 

 

$

9,444

 

 

$

31,942

 

 

$

—

 

 

$

124,624

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

476

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,798

 

 

 

—

 

 

 

3,274

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by multi-family properties

 

$

15,374

 

 

$

17,782

 

 

$

27,911

 

 

$

22,647

 

 

$

9,444

 

 

$

34,740

 

 

$

—

 

 

$

127,898

 

Real estate secured by owner-occupied properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

10,051

 

 

$

13,901

 

 

$

27,785

 

 

$

25,145

 

 

$

15,501

 

 

$

58,324

 

 

$

—

 

 

$

150,707

 

Special mention

 

 

62

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

51

 

 

 

—

 

 

 

113

 

Substandard

 

 

—

 

 

 

3,874

 

 

 

921

 

 

 

495

 

 

 

2,156

 

 

 

6,063

 

 

 

—

 

 

 

13,509

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by owner-occupied properties

 

$

10,113

 

 

$

17,775

 

 

$

28,706

 

 

$

25,640

 

 

$

17,657

 

 

$

64,438

 

 

$

—

 

 

$

164,329

 

Real estate secured by other commercial properties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

24,479

 

 

$

30,236

 

 

$

69,229

 

 

$

41,135

 

 

$

14,873

 

 

$

118,418

 

 

$

—

 

 

$

298,370

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

667

 

 

 

—

 

 

 

—

 

 

 

2,324

 

 

 

738

 

 

 

—

 

 

 

3,729

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total real estate secured by other commercial properties

 

$

24,479

 

 

$

30,903

 

 

$

69,229

 

 

$

41,135

 

 

$

17,197

 

 

$

119,156

 

 

$

—

 

 

$

302,099

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,662

 

 

$

5,662

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

5,662

 

 

$

5,662

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

8,292

 

 

$

14,313

 

 

$

26,467

 

 

$

18,992

 

 

$

8,471

 

 

$

26,024

 

 

$

—

 

 

$

102,559

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

133

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

133

 

Substandard

 

 

—

 

 

 

—

 

 

 

342

 

 

 

210

 

 

 

146

 

 

 

522

 

 

 

—

 

 

 

1,220

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

8,292

 

 

$

14,313

 

 

$

26,809

 

 

$

19,335

 

 

$

8,617

 

 

$

26,546

 

 

$

—

 

 

$

103,912

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

15

 

 

$

540

 

 

$

563

 

 

$

182

 

 

$

545

 

 

$

884

 

 

$

—

 

 

$

2,729

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

19

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

15

 

 

$

540

 

 

$

582

 

 

$

182

 

 

$

545

 

 

$

884

 

 

$

—

 

 

$

2,748

 

State and political subdivisions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

410

 

 

$

949

 

 

$

—

 

 

$

3,930

 

 

$

10

 

 

$

12,622

 

 

$

—

 

 

$

17,921

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

$

410

 

 

$

949

 

 

$

—

 

 

$

3,930

 

 

$

10

 

 

$

12,622

 

 

$

—

 

 

$

17,921

 

Total Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

112,163

 

 

$

130,274

 

 

$

177,651

 

 

$

131,463

 

 

$

55,291

 

 

$

265,494

 

 

$

82,938

 

 

$

955,274

 

Special mention

 

 

62

 

 

 

6,515

 

 

 

—

 

 

 

133

 

 

 

—

 

 

 

51

 

 

 

—

 

 

 

6,761

 

Substandard

 

 

—

 

 

 

5,017

 

 

 

1,282

 

 

 

837

 

 

 

4,730

 

 

 

10,872

 

 

 

4,145

 

 

 

26,883

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial loans

 

$

112,225

 

 

$

141,806

 

 

$

178,933

 

 

$

132,433

 

 

$

60,021

 

 

$

276,417

 

 

$

87,083

 

 

$

988,918

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

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

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

December 31, 2023

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

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

 

 

 

F

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Retail Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

7,365

 

 

$

12,495

 

 

$

14,210

 

 

$

28,987

 

 

$

19,231

 

 

$

28,474

 

 

$

—

 

 

$

110,762

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

621

 

 

 

—

 

 

 

621

 

Total 1-4 family residential mortgages

 

$

7,365

 

 

$

12,495

 

 

$

14,210

 

 

$

28,987

 

 

$

19,231

 

 

$

29,095

 

 

$

—

 

 

$

111,383

 

Construction-individual:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction-individual

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

47,351

 

 

$

47,351

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

320

 

 

 

320

 

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

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

47,671

 

 

$

47,671

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

656

 

 

$

738

 

 

$

992

 

 

$

1,070

 

 

$

868

 

 

$

2,536

 

 

$

—

 

 

$

6,860

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

92

 

 

 

—

 

 

 

—

 

 

 

29

 

 

 

—

 

 

 

121

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

September 30, 2024

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

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

 

$

656

 

 

$

738

 

 

$

1,084

 

 

$

1,070

 

 

$

868

 

 

$

2,565

 

 

$

—

 

 

$

6,981

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

3,834

 

 

$

3,453

 

 

$

939

 

 

$

1,009

 

 

$

1,002

 

 

$

2,985

 

 

$

—

 

 

$

13,222

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

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

 

$

3,834

 

 

$

3,453

 

 

$

956

 

 

$

1,009

 

 

$

1,002

 

 

$

2,985

 

 

$

—

 

 

$

13,239

 

Student loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,525

 

 

$

—

 

 

$

1,525

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

40

 

 

 

—

 

 

 

40

 

Total student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,565

 

 

$

—

 

 

$

1,565

 

Overdrafts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

325

 

 

$

325

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total overdrafts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

325

 

 

$

325

 

Other consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

601

 

 

$

545

 

 

$

160

 

 

$

127

 

 

$

33

 

 

$

41

 

 

$

199

 

 

$

1,706

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

31

 

 

 

—

 

 

 

31

 

Total other consumer

 

$

601

 

 

$

545

 

 

$

160

 

 

$

127

 

 

$

33

 

 

$

72

 

 

$

199

 

 

$

1,737

 

Total Retail Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

12,456

 

 

$

17,231

 

 

$

16,301

 

 

$

31,193

 

 

$

21,134

 

 

$

35,561

 

 

$

47,875

 

 

$

181,751

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

109

 

 

 

—

 

 

 

—

 

 

 

721

 

 

 

320

 

 

 

1,150

 

Total Retail Loans

 

$

12,456

 

 

$

17,231

 

 

$

16,410

 

 

$

31,193

 

 

$

21,134

 

 

$

36,282

 

 

$

48,195

 

 

$

182,901

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Period Gross Charge-Offs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

23

 

 

$

—

 

 

$

23

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

75

 

 

 

75

 

Other consumer

 

 

—

 

 

 

4

 

 

 

8

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

6

 

 

 

22

 

 

 

 

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

 

Construction-individual:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Nonperforming

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total construction-individual

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

57

 

 

$

—

 

 

$

57

 

Overdrafts

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91

 

 

 

91

 

Other consumer

 

 

—

 

 

 

1

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

14

 

 

Revolving home equity lines of credit secured by 1-4 family properties termed out during 2024 and 2023 were $2,477,000 and $4,534,000; all of which are performing.

Past Due Loans The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2024 and December 31, 2023:

 

September 30, 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

 

$

2

 

 

$

—

 

 

$

—

 

 

$

2

 

 

$

148,528

 

 

$

148,530

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

115,819

 

 

 

115,819

 

Real estate secured by multi-family properties

 

 

476

 

 

 

—

 

 

 

—

 

 

 

476

 

 

 

127,422

 

 

 

127,898

 

Real estate secured by owner-occupied properties

 

 

171

 

 

 

—

 

 

 

—

 

 

 

171

 

 

 

164,158

 

 

 

164,329

 

Real estate secured by other commercial properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

302,099

 

 

 

302,099

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,662

 

 

 

5,662

 

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

 

 

135

 

 

 

—

 

 

 

—

 

 

 

135

 

 

 

103,777

 

 

 

103,912

 

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

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

2,747

 

 

 

2,748

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17,921

 

 

 

17,921

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

312

 

 

 

418

 

 

 

730

 

 

 

110,653

 

 

 

111,383

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

49

 

 

 

120

 

 

 

—

 

 

 

169

 

 

 

47,502

 

 

 

47,671

 

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

 

 

128

 

 

 

—

 

 

 

92

 

 

 

220

 

 

 

6,761

 

 

 

6,981

 

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

 

 

—

 

 

 

96

 

 

 

17

 

 

 

113

 

 

 

13,126

 

 

 

13,239

 

Student loans

 

 

—

 

 

 

—

 

 

 

29

 

 

 

29

 

 

 

1,536

 

 

 

1,565

 

Overdrafts

 

 

16

 

 

 

4

 

 

 

—

 

 

 

20

 

 

 

305

 

 

 

325

 

Other consumer

 

 

—

 

 

 

5

 

 

 

—

 

 

 

5

 

 

 

1,732

 

 

 

1,737

 

Total

 

$

978

 

 

$

537

 

 

$

556

 

 

$

2,071

 

 

$

1,169,748

 

 

$

1,171,819

 

 

 

 

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

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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 discloses 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 September 30, 2024 and December 31, 2023:

 

September 30, 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

 

$

—

 

 

$

—

 

 

$

29

 

 

$

29

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

—

 

 

 

308

 

 

 

—

 

 

 

308

 

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

 

 

—

 

 

 

209

 

 

 

—

 

 

 

209

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

—

 

 

 

621

 

 

 

—

 

 

 

621

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

—

 

 

 

186

 

 

 

134

 

 

 

320

 

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

 

 

—

 

 

 

121

 

 

 

—

 

 

 

121

 

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

 

 

—

 

 

 

17

 

 

 

—

 

 

 

17

 

Student loans

 

 

—

 

 

 

40

 

 

 

—

 

 

 

40

 

Other consumer

 

 

—

 

 

 

31

 

 

 

—

 

 

 

31

 

Total

 

$

—

 

 

$

1,533

 

 

$

163

 

 

$

1,696

 

 

 

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

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 
Allowance for Loan Losses

Activity in the allowance for credit losses on loans for the three and nine months ended September 30, 2024 and 2023 are as follows:

 

For the Three Months Ended September 30, 2024

 

Balance, beginning of period

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

920

 

 

$

(8

)

 

$

—

 

 

$

12

 

 

$

924

 

Construction and land development

 

 

1,388

 

 

 

(90

)

 

 

—

 

 

 

—

 

 

 

1,298

 

Real estate secured by multi-family properties

 

 

1,818

 

 

 

203

 

 

 

—

 

 

 

—

 

 

 

2,021

 

Real estate secured by owner-occupied properties

 

 

970

 

 

 

(62

)

 

 

—

 

 

 

—

 

 

 

908

 

Real estate secured by other commercial properties

 

 

1,246

 

 

 

41

 

 

 

—

 

 

 

—

 

 

 

1,287

 

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

 

 

23

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

27

 

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

 

 

1,298

 

 

 

(16

)

 

 

—

 

 

 

2

 

 

 

1,284

 

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

 

 

11

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11

 

State and political subdivisions

 

 

44

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

47

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

380

 

 

 

11

 

 

 

—

 

 

 

3

 

 

 

394

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

166

 

 

 

9

 

 

 

—

 

 

 

—

 

 

 

175

 

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

 

 

134

 

 

 

(5

)

 

 

—

 

 

 

—

 

 

 

129

 

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

 

 

79

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

82

 

Student loans

 

 

336

 

 

 

15

 

 

 

(17

)

 

 

2

 

 

 

336

 

Overdrafts

 

 

13

 

 

 

29

 

 

 

(22

)

 

 

8

 

 

 

28

 

Other consumer

 

 

32

 

 

 

17

 

 

 

(14

)

 

 

1

 

 

 

36

 

Total

 

$

8,858

 

 

$

154

 

 

$

(53

)

 

$

28

 

 

$

8,987

 

 

 

 

For the Three Months Ended September 30, 2023

 

Balance, beginning of period

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

795

 

 

$

256

 

 

$

(273

)

 

$

11

 

 

$

789

 

Construction and land development

 

 

854

 

 

 

234

 

 

 

—

 

 

 

—

 

 

 

1,088

 

Real estate secured by multi-family properties

 

 

1,624

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

1,709

 

Real estate secured by owner-occupied properties

 

 

985

 

 

 

20

 

 

 

—

 

 

 

—

 

 

 

1,005

 

Real estate secured by other commercial properties

 

 

1,228

 

 

 

(102

)

 

 

—

 

 

 

—

 

 

 

1,126

 

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

 

 

37

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

36

 

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

 

 

1,277

 

 

 

(2

)

 

 

—

 

 

 

3

 

 

 

1,278

 

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

 

 

234

 

 

 

(24

)

 

 

—

 

 

 

—

 

 

 

210

 

State and political subdivisions

 

 

51

 

 

 

5

 

 

 

—

 

 

 

—

 

 

 

56

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

433

 

 

 

(17

)

 

 

—

 

 

 

—

 

 

 

416

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

234

 

 

 

(103

)

 

 

—

 

 

 

—

 

 

 

131

 

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

 

 

67

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

70

 

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

 

 

86

 

 

 

109

 

 

 

—

 

 

 

2

 

 

 

197

 

Student loans

 

 

418

 

 

 

(36

)

 

 

—

 

 

 

2

 

 

 

384

 

Overdrafts

 

 

13

 

 

 

15

 

 

 

(21

)

 

 

7

 

 

 

14

 

Other consumer

 

 

29

 

 

 

10

 

 

 

(6

)

 

 

—

 

 

 

33

 

Total

 

$

8,365

 

 

$

452

 

 

$

(300

)

 

$

25

 

 

$

8,542

 

For the Nine Months Ended September 30, 2024

 

Balance, beginning of period

 

 

Credit loss expense (reversal)

 

 

Charge-offs

 

 

Recoveries

 

 

Balance, end
of period

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

823

 

 

$

87

 

 

$

(23

)

 

$

37

 

 

$

924

 

Construction and land development

 

 

1,252

 

 

 

46

 

 

 

—

 

 

 

—

 

 

 

1,298

 

Real estate secured by multi-family properties

 

 

1,735

 

 

 

286

 

 

 

—

 

 

 

—

 

 

 

2,021

 

Real estate secured by owner-occupied properties

 

 

1,001

 

 

 

(93

)

 

 

—

 

 

 

—

 

 

 

908

 

Real estate secured by other commercial properties

 

 

1,167

 

 

 

120

 

 

 

—

 

 

 

—

 

 

 

1,287

 

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

 

 

27

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27

 

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

 

 

1,507

 

 

 

(230

)

 

 

—

 

 

 

7

 

 

 

1,284

 

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

 

 

14

 

 

 

(3

)

 

 

—

 

 

 

—

 

 

 

11

 

State and political subdivisions

 

 

55

 

 

 

(8

)

 

 

—

 

 

 

—

 

 

 

47

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

427

 

 

 

(36

)

 

 

—

 

 

 

3

 

 

 

394

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

138

 

 

 

37

 

 

 

—

 

 

 

—

 

 

 

175

 

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

 

 

182

 

 

 

(53

)

 

 

—

 

 

 

—

 

 

 

129

 

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

 

 

105

 

 

 

(23

)

 

 

—

 

 

 

—

 

 

 

82

 

Student loans

 

 

369

 

 

 

(20

)

 

 

(23

)

 

 

10

 

 

 

336

 

Overdrafts

 

 

16

 

 

 

65

 

 

 

(75

)

 

 

22

 

 

 

28

 

Other consumer

 

 

34

 

 

 

18

 

 

 

(22

)

 

 

6

 

 

 

36

 

Total

 

$

8,852

 

 

$

193

 

 

$

(143

)

 

$

85

 

 

$

8,987

 

For the Nine Months Ended September 30, 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

)

 

$

(759

)

 

$

(313

)

 

$

615

 

 

$

789

 

Construction and land development

 

 

755

 

 

 

(10

)

 

 

343

 

 

 

—

 

 

 

—

 

 

 

1,088

 

Real estate secured by multi-family properties

 

 

995

 

 

 

684

 

 

 

30

 

 

 

—

 

 

 

—

 

 

 

1,709

 

Real estate secured by owner-occupied properties

 

 

1,549

 

 

 

(374

)

 

 

(170

)

 

 

—

 

 

 

—

 

 

 

1,005

 

Real estate secured by other commercial properties

 

 

2,458

 

 

 

(1,128

)

 

 

(204

)

 

 

—

 

 

 

—

 

 

 

1,126

 

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

 

 

25

 

 

 

7

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

36

 

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

 

 

1,210

 

 

 

490

 

 

 

(430

)

 

 

—

 

 

 

8

 

 

 

1,278

 

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

 

 

30

 

 

 

(14

)

 

 

194

 

 

 

—

 

 

 

—

 

 

 

210

 

State and political subdivisions

 

 

94

 

 

 

(20

)

 

 

(18

)

 

 

—

 

 

 

—

 

 

 

56

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

682

 

 

 

(196

)

 

 

(70

)

 

 

—

 

 

 

—

 

 

 

416

 

Construction-individual

 

 

1

 

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

299

 

 

 

(7

)

 

 

(161

)

 

 

—

 

 

 

—

 

 

 

131

 

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

 

 

57

 

 

 

15

 

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

70

 

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

 

 

55

 

 

 

29

 

 

 

107

 

 

 

—

 

 

 

6

 

 

 

197

 

Student loans

 

 

454

 

 

 

12

 

 

 

(45

)

 

 

(43

)

 

 

6

 

 

 

384

 

Overdrafts

 

 

8

 

 

 

3

 

 

 

54

 

 

 

(73

)

 

 

22

 

 

 

14

 

Other consumer

 

 

41

 

 

 

(8

)

 

 

9

 

 

 

(9

)

 

 

—

 

 

 

33

 

Unallocated

 

 

502

 

 

 

(502

)

 

 

—

 

 

N/A

 

 

N/A

 

 

 

—

 

Total

 

$

10,531

 

 

$

(1,089

)

 

$

(1,119

)

 

$

(438

)

 

$

657

 

 

$

8,542

 
Collateral-dependent Loans By Loan Category

The following tables present the collateral-dependent loans by loan category at September 30, 2024 and December 31, 2023:

 

September 30, 2024

 

Real Estate Secured

 

 

Other (1)

 

 

Deficiency in Collateral

 

 

Total Collateral Dependent Nonaccrual Loans

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

—

 

 

$

—

 

 

$

29

 

 

$

29

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by multi-family properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate secured by owner-occupied properties

 

 

308

 

 

 

—

 

 

 

—

 

 

 

308

 

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

 

 

209

 

 

 

 

 

 

 

 

 

209

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

State and political subdivisions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Retail:

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

 

621

 

 

 

—

 

 

 

—

 

 

 

621

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 

 

229

 

 

 

—

 

 

 

91

 

 

 

320

 

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

 

 

121

 

 

 

—

 

 

 

—

 

 

 

121

 

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

 

 

17

 

 

 

—

 

 

 

—

 

 

 

17

 

Other consumer

 

 

—

 

 

 

31

 

 

 

—

 

 

 

31

 

Total

 

$

1,505

 

 

$

31

 

 

$

120

 

 

$

1,656

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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

 

Construction-individual

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

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

 
v3.24.3
Note 9 - Fair Value Measurements and Disclosures (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on a Recurring and Nonrecurring Basis

The following table sets forth QNB’s financial assets measured at fair value on a recurring and nonrecurring basis and the fair value measurements by level within the fair value hierarchy as of September 30, 2024:

 

September 30, 2024

 

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

 

 

Significant other observable inputs
(Level 2)

 

 

Significant unobservable inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

—

 

 

$

19,005

 

 

$

—

 

 

$

19,005

 

U.S. Government agency securities

 

 

—

 

 

 

68,241

 

 

 

—

 

 

 

68,241

 

State and municipal securities (1)

 

 

—

 

 

 

87,414

 

 

 

—

 

 

 

87,414

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities (1)

 

 

—

 

 

 

205,742

 

 

 

—

 

 

 

205,742

 

Collateralized mortgage obligations (CMOs)

 

 

—

 

 

 

123,173

 

 

 

—

 

 

 

123,173

 

Corporate debt securities and money market funds

 

 

—

 

 

 

6,410

 

 

 

51

 

 

 

6,461

 

Total debt securities available-for-sale

 

 

—

 

 

 

509,985

 

 

 

51

 

 

 

510,036

 

Equity securities

 

 

2,760

 

 

 

—

 

 

 

—

 

 

 

2,760

 

Total recurring fair value measurements

 

$

2,760

 

 

$

509,985

 

 

$

51

 

 

$

512,796

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

—

 

 

$

—

 

 

$

43

 

 

$

43

 

Mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

5

 

 

 

5

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

48

 

 

$

48

 

 

December 31, 2023

 

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

 

 

Significant other observable inputs
(Level 2)

 

 

Significant unobservable inputs
(Level 3)

 

 

Balance at end
of period

 

Recurring fair value measurements

 

 

 

 

 

 

 

 

 

 

 

 

Debt 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 debt 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 as discussed in Note 12

 

 

 
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

 

September 30, 2024

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
inputs

 

 

Value or range
of values

 

Collateral dependent loans

 

$

43

 

 

Appraisal of collateral

(1)

 

Appraisal adjustments

(2)

 

-20% to -100%

 

 

 

 

 

 

 

 

 

Liquidation expenses

(3)

 

 

-10

%

Mortgage servicing rights

 

 

5

 

 

Discounted cash flow

 

 

Remaining term

 

 

1 to 30 years

 

 

 

 

 

 

 

 

 

Prepayment speeds

 

 

105% to 201%

 

 

 

 

 

 

 

 

 

Discount rate

 

 

12.0% to 12.5%

 

 

 

 

Quantitative information about Level 3 fair value measurements

December 31, 2023

 

Fair value

 

 

Valuation
techniques

 

 

Unobservable
inputs

 

 

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

 

 

2 to 30 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 available-for-sale securities 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 nine months ended September 30, 2024 and 2023:

 

 

 

Fair value measurements
using significant
unobservable inputs
(Level 3)

 

 

 

2024

 

 

2023

 

Balance, January 1,

 

$

52

 

 

$

53

 

Payments received

 

 

(1

)

 

 

(1

)

Total gains or losses (realized/unrealized)

 

 

 

 

 

 

Included in earnings

 

 

—

 

 

 

—

 

Included in other comprehensive (loss) income

 

 

—

 

 

 

—

 

Transfers in and/or out of Level 3

 

 

—

 

 

 

—

 

Balance, September 30,

 

$

51

 

 

$

52

 
Financial and Off-balance Sheet Instruments

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

 

 

 

 

 

 

 

 

 

Fair value measurements

 

September 30, 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

 

$

104,232

 

 

$

104,232

 

 

$

104,232

 

 

$

—

 

 

$

—

 

Investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale (1)

 

 

510,036

 

 

 

510,036

 

 

 

—

 

 

 

509,985

 

 

 

51

 

Equities

 

 

2,760

 

 

 

2,760

 

 

 

2,760

 

 

 

—

 

 

 

—

 

Restricted investment in stocks

 

 

4,085

 

 

 

4,085

 

 

 

—

 

 

 

4,085

 

 

 

—

 

Loans held for sale

 

 

294

 

 

 

298

 

 

 

—

 

 

 

298

 

 

 

—

 

Net loans

 

 

1,162,374

 

 

 

1,178,681

 

 

 

—

 

 

 

—

 

 

 

1,178,681

 

Mortgage servicing rights

 

 

392

 

 

 

561

 

 

 

—

 

 

 

—

 

 

 

561

 

Accrued interest receivable

 

 

4,472

 

 

 

4,472

 

 

 

—

 

 

 

4,472

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits with no stated maturities

 

$

1,245,649

 

 

$

1,245,649

 

 

$

1,245,649

 

 

$

—

 

 

$

—

 

Deposits with stated maturities

 

 

380,635

 

 

 

379,723

 

 

 

—

 

 

 

379,723

 

 

 

—

 

Short-term borrowings

 

 

22,918

 

 

 

22,918

 

 

 

22,918

 

 

 

—

 

 

 

—

 

Long-term debt

 

 

30,000

 

 

 

30,060

 

 

 

—

 

 

 

30,060

 

 

 

—

 

Subordinated debt

 

 

39,030

 

 

 

39,700

 

 

 

—

 

 

 

39,700

 

 

 

—

 

Accrued interest payable

 

 

4,738

 

 

 

4,738

 

 

 

—

 

 

 

4,738

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Standby letters of credit

 

 

—

 

 

 

36

 

 

 

—

 

 

 

36

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

—

 

Loans 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 as discussed in Note 12

 

 

 

 

 
v3.24.3
Note 10 - Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Financial Instrument Commitments

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

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Commitments to extend credit and unused lines of credit

 

$

387,142

 

 

$

378,954

 

Standby letters of credit

 

 

18,457

 

 

 

18,820

 

Total financial instrument commitments

 

$

405,599

 

 

$

397,774

 
v3.24.3
Note 11 - Regulatory Restrictions (Tables)
 9 Months Ended
Sep. 30, 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

 

September 30, 2024

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

$

213,025

 

 

 

15.99

%

 

$

106,610

 

 

 

8.00

%

 

$

133,262

 

 

 

10.00

%

Bank

 

 

190,951

 

 

 

14.38

 

 

 

106,265

 

 

8.00

 

 

 

132,831

 

 

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

$

163,939

 

 

 

12.30

 

 

 

79,957

 

 

6.00

 

 

 

79,957

 

 

6.00

 

Bank

 

 

181,865

 

 

 

13.69

 

 

 

79,699

 

 

6.00

 

 

 

106,265

 

 

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

163,939

 

 

 

12.30

 

 

 

59,968

 

 

4.50

 

 

N/A

 

 

N/A

 

Bank

 

 

181,865

 

 

 

13.69

 

 

 

59,774

 

 

4.50

 

 

 

86,340

 

 

6.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

163,939

 

 

 

8.83

 

 

 

74,241

 

 

4.00

 

 

N/A

 

 

N/A

 

Bank

 

 

181,865

 

 

 

9.89

 

 

 

73,542

 

 

4.00

 

 

 

91,927

 

 

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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

$

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 1 capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

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 1 capital (to average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company

 

 

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

 
v3.24.3
Note 12 - Derivatives and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Derivative Instruments

The following tables present the notional amounts of derivatives designated as fair value hedging instruments at September 30, 2024, and December 31, 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.

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

 

 

At September 30, 2024

 

 

At December 31, 2023

 

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

 

 

$

96,878

 

 

$

(1,368

)

 

$

75,000

 

 

$

97,373

 

 

$

(445

)

U.S. Government agencies and GSE mortgage backed securities

 

 

225,000

 

 

 

317,863

 

 

 

(3,613

)

 

 

225,000

 

 

 

343,453

 

 

 

(1,304

)

Total

 

$

300,000

 

 

$

414,741

 

 

$

(4,981

)

 

$

300,000

 

 

$

440,826

 

 

$

(1,749

)

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

The following table presents amounts included in the Consolidated Statements on Income for derivatives designated as fair value hedging instruments for the three and nine months ended September 30, 2024 and 2023.

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

Income Sheet Classification

 

2024

 

 

2023

 

 

2024

 

 

2023

 

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

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal securities

 

 

 

 

 

 

 

 

 

 

 

 

Recognized on fair value hedge

 

$

1,007

 

 

$

976

 

 

$

3,017

 

 

$

1,166

 

Recognized on hedge portfolio

 

 

(661

)

 

 

(660

)

 

 

(1,989

)

 

 

(794

)

Recognized on remeasurement of fair value hedge

 

 

57

 

 

 

(21

)

 

 

47

 

 

 

(35

)

U.S. Government agencies and GSE mortgage backed securities

 

 

 

 

 

 

 

 

 

 

 

 

Recognized on fair value hedge

 

 

3,075

 

 

 

2,916

 

 

 

9,070

 

 

 

3,485

 

Recognized on hedge portfolio

 

 

(2,106

)

 

 

(2,015

)

 

 

(6,182

)

 

 

(2,422

)

Recognized on remeasurement of fair value hedge

 

 

93

 

 

 

(6

)

 

 

81

 

 

 

(30

)

Total

 

$

1,465

 

 

$

1,190

 

 

$

4,044

 

 

$

1,370

 

 
Schedule of Derivative Designated as Fair Value Hedging Instruments of Accumulated Other Comprehensive (Loss) Income

The following table presents amounts included in accumulated other comprehensive gain (loss) income for derivatives designated as fair value hedging instruments at September 30, 2024 and December 31, 2023.

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

Balance Sheet Classification

 

At September 30, 2024

 

 

At December 31, 2023

 

Net unrealized holding losses on fair value hedge, net of tax

 

$

(3,913

)

 

$

(1,382

)

Total

 

$

(3,913

)

 

$

(1,382

)
v3.24.3
Note 3 - Stock-Based Compensation and Shareholders' Equity (Details Textual) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Allocated share-based compensation expense $ 24,000 $ 23,000 $ 63,000 $ 67,000    
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized $ 217,000   $ 217,000      
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    
Share-based compensation arrangement by share-based payment award, options, forfeitures in period     24,275 22,600    
Share-based compensation arrangement by share-based payment award, options, outstanding, number 137,275 121,550 137,275 121,550 121,550 109,150
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value     $ 3.08 $ 4.11    
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   50,000      
Share-based compensation arrangement by share-based payment award, shares issued     4,800      
Stock repurchase program remaining number of shares 45,200   45,200      
Annual stock based compensation service fee     $ 8,000      
Semi annual stock based compensation payment     $ 4,000      
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   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   137,275      
Employee Stock Purchase Plan 2021 [Member]            
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Allocated share-based compensation expense     $ 13,000 $ 7,000    
Share-based compensation arrangement by share-based payment award, number of shares authorized 30,000   30,000      
Share-based compensation arrangement by share-based payment award, shares issued     17,674      
Discount rate on common stock     10.00%      
Expiration date     May 31, 2026      
Director Compensation Plan [Member]            
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]            
Allocated share-based compensation expense     $ 53,000 $ 60,000    
Employee Stock Option [Member] | 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      
Share-based compensation arrangement by share-based payment award, expiration period     5 years      
Share-based compensation arrangement by share-based payment award, award vesting period     3 years      
Employee Stock Option [Member] | 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 [Member] | 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      
v3.24.3
Note 3 - Assumptions Used in Option Pricing Model (Details)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]    
Risk free interest rate 3.98% 3.64%
Dividend yield 5.97% 4.80%
Volatility 20.96% 20.36%
Expected life (years) 8 years 2 months 8 days 8 years 4 months 6 days
v3.24.3
Note 3 - Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]    
Outstanding-Number of options (in shares) 121,550 109,150
Granted-Number of options (in shares) 40,000 35,000
Forfeited-Number of options (in shares) (24,275) (22,600)
Outstanding ending-Number of options (in shares) 137,275 121,550
Exercisable-Number of options (in shares) 45,315 41,375
Outstanding-Weighted average exercise price (in dollars per share) $ 34.29 $ 37.65
Granted-Weighted average exercise price (in dollars per share) 23.4 29.51
Forfeited-Weighted average exercise price (in dollars per share) 37.69 43.15
Outstanding ending-Weighted average exercise price (in dollars per share) 30.51 34.29
Exercisable-Weighted average exercise price (in dollars per share) $ 33.74 $ 37.37
Outstanding ending-Weighted average remaining contractual term 5 years 5 months 26 days 4 years 1 month 2 days
Exercisable-Weighted average remaining contractual term 2 years 3 days 10 months 6 days
Outstanding ending-Aggregate intrinsic value $ 244  
Granted-Aggregate intrinsic value $ 244  
v3.24.3
Note 4 - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Earnings Per Share [Abstract]        
Numerator for basic and diluted earnings per share - net income $ 3,338 $ 2,344 $ 8,397 $ 8,349
Denominator for basic earnings per share - weighted average shares outstanding 3,679,799 3,613,230 3,666,937 3,600,137
Effect of dilutive securities - employee stock options 2,974      
Denominator for diluted earnings per share - adjusted weighted average shares outstanding 3,682,773 3,613,230 3,666,937 3,600,137
Earnings per share - basic $ 0.91 $ 0.65 $ 2.29 $ 2.32
Earnings per share - diluted $ 0.91 $ 0.65 $ 2.29 $ 2.32
v3.24.3
Note 4 - Earnings Per Share & Share Repurchase Plan (Details Textual) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Apr. 29, 2021
Feb. 09, 2009
Earnings Per Share and Share Repurchase Plan [Line Items]              
Treasury stock, shares 208,686   208,686   208,686    
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      
Treasury stock, shares 102,000   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
Employee Stock Option [Member]              
Earnings Per Share and Share Repurchase Plan [Line Items]              
Antidilutive securities excluded from computation of earnings per share, amount 97,275 121,550 137,275 121,550      
v3.24.3
Note 5 - Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Loss [Line Items]    
Accumulated other loss $ (74,606) $ (85,996)
Tax effect 15,999 18,059
Accumulated other comprehensive loss, net of tax (58,607) (67,937)
Unrealized Net Holding Losses on Available-for-sale Securities [Member]    
Accumulated Other Comprehensive Loss [Line Items]    
Accumulated other loss (69,625) (84,247)
Unrealized Net Holding Losses on Fair Value Hedge [Member]    
Accumulated Other Comprehensive Loss [Line Items]    
Accumulated other loss $ (4,981) $ (1,749)
v3.24.3
Note 5 - Amounts Reclassified Out of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Reclassification Adjustment Out Of Accumulated Other Comprehensive Loss [Line Items]        
Income before income taxes $ 4,299 $ 2,838 $ 10,565 $ 10,291
Tax effect (961) (494) (2,168) (1,942)
Net income 3,338 2,344 8,397 8,349
Reclassification out of Accumulated Other Comprehensive Gain (Loss)        
Reclassification Adjustment Out Of Accumulated Other Comprehensive Loss [Line Items]        
Unrealized net holding gains (losses) on available-for-sale securities 0 0 (1,096) (257)
Interest and dividends on available-for-sale & equity securities 150 (26) 128 (64)
Income before income taxes 150 (26) (968) (321)
Tax effect (31) 5 203 67
Net income $ 119 $ (21) $ (765) $ (254)
v3.24.3
Note 6 - Available-for-Sale (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value $ 510,036 $ 490,182
Investment securities available-for-sale, debt securities gross unrealized holding gains 42 5
Investment securities available-for-sale, debt securities gross unrealized holding losses (69,667) (84,252)
Investment securities available-for-sale, debt securities gross unrealized fair value hedge gains (losses) (4,981) (1,749)
Investment securities available-for-sale, debt securities amortized cost 584,642 576,178
US Treasury Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value 19,005 6,451
Investment securities available-for-sale, debt securities gross unrealized holding gains 20 3
Investment securities available-for-sale, debt securities amortized cost 18,985 6,448
US Government Agencies Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value 68,241 74,122
Investment securities available-for-sale, debt securities gross unrealized holding losses (7,716) (10,828)
Investment securities available-for-sale, debt securities amortized cost 75,957 84,950
US States and Political Subdivisions Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value 87,414 89,189
Investment securities available-for-sale, debt securities gross unrealized holding losses (16,845) (18,714)
Investment securities available-for-sale, debt securities gross unrealized fair value hedge gains (losses) (1,368) (445)
Investment securities available-for-sale, debt securities amortized cost 105,627 108,348
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value 205,742 224,238
Investment securities available-for-sale, debt securities gross unrealized holding losses (31,182) (37,831)
Investment securities available-for-sale, debt securities gross unrealized fair value hedge gains (losses) (3,613) (1,304)
Investment securities available-for-sale, debt securities amortized cost 240,537 263,373
Collateralized Mortgage Obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value 123,173 89,973
Investment securities available-for-sale, debt securities gross unrealized holding losses (13,668) (16,383)
Investment securities available-for-sale, debt securities amortized cost 136,841 106,356
Corporate Debt Securities and Money Market Funds [Member]    
Schedule Of Available For Sale Securities [Line Items]    
Investment debt securities available-for-sale, Fair value 6,461 6,209
Investment securities available-for-sale, debt securities gross unrealized holding gains 22 2
Investment securities available-for-sale, debt securities gross unrealized holding losses (256) (496)
Investment securities available-for-sale, debt securities amortized cost $ 6,695 $ 6,703
v3.24.3
Note 6 - Investment Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]    
Due in one year or less, Fair value $ 21,210  
Due after one year through five years, Fair value 57,700  
Due after five years through ten years, Fair value 33,018  
Due after ten years, Fair value 69,193  
Total fair value 181,121  
Investment securities available-for-sale, debt securities 510,036 $ 490,182
Due in one year or less, Amortized cost 21,180  
Due after one year through five years, Amortized cost 63,288  
Due after five years through ten years, Amortized cost 38,835  
Due after ten years, Amortized cost 83,961  
Total amortized cost 207,264  
Investment securities available-for-sale, debt securities amortized cost 584,642 576,178
Residential Mortgage-Backed Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Investment securities available-for-sale, debt securities 205,742  
Investment securities available-for-sale, debt securities amortized cost 240,537  
Collateralized Mortgage Obligations [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Investment securities available-for-sale, debt securities 123,173 89,973
Investment securities available-for-sale, debt securities amortized cost $ 136,841 $ 106,356
v3.24.3
Note 6 - Investment Securities (Details Textual)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Security
shares
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Security
shares
Sep. 30, 2023
USD ($)
Aug. 07, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Investment Securities [Line Items]            
Proceeds from sale of investment securities $ 0 $ 0 $ 13,139,000 $ 9,081,000    
Available-for-sale securities pledged as collateral $ 261,595,000   $ 261,595,000     $ 289,935,000
Debt Securities, Available-for-Sale, Restriction Type [Extensible Enumeration] us-gaap:AssetPledgedAsCollateralMember   us-gaap:AssetPledgedAsCollateralMember     us-gaap:AssetPledgedAsCollateralMember
Other than temporary impairment, credit losses recognized in earnings $ 0 0 $ 0 0    
Available-for-sale, amortized cost 584,642,000   584,642,000     $ 576,178,000
Available-for-sale 510,036,000   510,036,000     490,182,000
Investment equity securities $ 2,760,000   2,760,000     $ 5,910,000
Proceeds from sale of investment equity securities     $ 6,050,000 8,180,000    
Common stock shares | shares 3,895,128   3,895,128     3,861,940
Common stock , carrying basis         $ 0  
Unrealized gain (loss) on equity securities $ 143,000 (138,000) $ 1,129,000 (654,000)    
Securities for reverse of makewhole agreement $ 85,000   $ 85,000      
Pooled Trust Preferred Security [Member]            
Investment Securities [Line Items]            
Number of trust preferred securities | Security 1   1      
Available-for-sale, amortized cost $ 57,000   $ 57,000      
Available-for-sale 51,000   51,000      
Equity Securities [Member]            
Investment Securities [Line Items]            
Income tax expense (benefit) related to net recognized gains (losses) on sales of securities 99,000 (2,000) 392,000 (61,000)    
Debt Securities [Member]            
Investment Securities [Line Items]            
Income tax expense (benefit) related to net realized gains (losses) on sales of securities $ 0 $ (0) (236,000) $ (54,000)    
Common Class B-1 [Member]            
Investment Securities [Line Items]            
Common stock shares | shares         6,502  
Common Class B-2 [Member]            
Investment Securities [Line Items]            
Common stock shares | shares         3,251  
Common Class A [Member]            
Investment Securities [Line Items]            
Unrealized gain (loss) on equity securities     $ 1,419,000      
Common Class C [Member]            
Investment Securities [Line Items]            
Common stock shares | shares         1,290  
v3.24.3
Note 6 - Realized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]        
Gross realized gains $ 0 $ 0 $ 0 $ 0
Gross realized losses 0   (1,096) (257)
Impairment 0 0 0 0
Total net gains (losses) on AFS securities $ 0 $ 0 $ (1,096) $ (257)
v3.24.3
Note 6 - Debt Securities in a Continuous Unrealized Loss Position (Details)
$ in Thousands
Sep. 30, 2024
USD ($)
Security
Dec. 31, 2023
USD ($)
Security
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 511 526
Debt Securities in an unrealized loss position less than 12 months, fair value $ 24,116 $ 875
Debt Securities in an unrealized loss position less than 12 months, unrealized losses (176) 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 455,811 484,934
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (69,491) (84,252)
Debt Securities in an unrealized loss position, fair value 479,927 485,809
Debt Securities in an unrealized loss position, unrealized losses $ (69,667) $ (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 68,241 74,122
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (7,716) (10,828)
Debt Securities in an unrealized loss position, fair value 68,241 74,122
Debt Securities in an unrealized loss position, unrealized losses $ (7,716) $ (10,828)
US States and Political Subdivisions Debt Securities [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 187 191
Debt Securities in an unrealized loss position less than 12 months, fair value $ 0 $ 380
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 88,428 89,238
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (16,845) (18,714)
Debt Securities in an unrealized loss position, fair value 88,428 89,618
Debt Securities in an unrealized loss position, unrealized losses $ (16,845) $ (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 152 165
Debt Securities in an unrealized loss position less than 12 months, fair value $ 0 $ 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 209,232 225,500
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (31,182) (37,831)
Debt Securities in an unrealized loss position, fair value 209,232 225,501
Debt Securities in an unrealized loss position, unrealized losses $ (31,182) $ (37,831)
Collateralized Mortgage Obligations [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 134 126
Debt Securities in an unrealized loss position less than 12 months, fair value $ 24,116 $ 0
Debt Securities in an unrealized loss position less than 12 months, unrealized losses (176) 0
Debt Securities in an unrealized loss position 12 months or longer, fair value 83,609 89,973
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (13,492) (16,383)
Debt Securities in an unrealized loss position, fair value 107,725 89,973
Debt Securities in an unrealized loss position, unrealized losses $ (13,668) $ (16,383)
Corporate Debt Securities and Money Market Funds [Member]    
Schedule Of Available For Sale Securities [Line Items]    
No. of debt securities | Security 3 4
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 6,301 6,101
Debt Securities in an unrealized loss position 12 months or longer, unrealized losses (256) (496)
Debt Securities in an unrealized loss position, fair value 6,301 6,101
Debt Securities in an unrealized loss position, unrealized losses $ (256) $ (496)
v3.24.3
Note 6 - Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Equity Securities [Abstract]        
Net (loss) gains recognized during the period on equity securities $ 367 $ (7) $ 1,730 $ (212)
Less: Net (losses) gains recognized during the period on equity securities sold during the period 224 131 601 442
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date $ 143 $ (138) $ 1,129 $ (654)
v3.24.3
Note 7 - Restricted Investments in Stock (Details Textual)
 9 Months Ended
Sep. 30, 2024
USD ($)
shares
Sep. 26, 2024
Dec. 31, 2023
USD ($)
Schedule of Investments [Line Items]      
Restricted investment in stocks $ 4,085,000   $ 2,730,000
Conversion factor per share   1.5653  
Impairment charge of restricted investment 0    
Investment in Federal Home Loan Bank Stock [Member]      
Schedule of Investments [Line Items]      
Restricted investment in stocks 2,102,000    
Investment in Atlantic Community Bankers Bank Stock [Member]      
Schedule of Investments [Line Items]      
Restricted investment in stocks 12,000    
Investment In SHCPFIC Preferred Stock [Member]      
Schedule of Investments [Line Items]      
Restricted investment in stocks $ 1,000,000    
Number of shares owned | shares 100    
Investment in National Energy Improvement Fund, LLC [Member]      
Schedule of Investments [Line Items]      
Restricted investment in stocks $ 971,000    
VISA Class B-2 Stock [Member]      
Schedule of Investments [Line Items]      
Restricted investment in stocks $ 0    
Number of shares owned | shares 3,251    
v3.24.3
Note 8 - Loans & Allowance for Credit Losses on Loans (Details Textual)
 9 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
Contract
Loan
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Contract
Accounts Notes And Loans Receivable [Line Items]      
Financing receivable, modifications, subsequent default, number of contracts | Contract 0   0
Interest income on non-accrual loans $ 51,000 $ 557,000  
Residential Portfolio Segment [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Mortgage loan on real estate number of loan in foreclosure | Loan 1    
Mortgage loans in process of foreclosure, amount $ 341,000    
Residential Portfolio Segment [Member] | Maximum [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Loan to value ratio 80.00%    
Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Revolving lines of credit $ 2,477,000   $ 4,534,000
v3.24.3
Note 8 - Major Classes of Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Accounts Notes And Loans Receivable [Line Items]          
Loans $ 1,171,819   $ 1,093,771    
Net unearned (fees) costs (458)   (238)    
Allowance for credit losses on loans (8,987) $ (8,858) (8,852) $ (8,542) $ (8,365)
Loans receivable, net 1,162,374   1,084,681    
State and Political Subdivisions [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 17,921   18,708    
Commercial Portfolio Segment [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 988,918   919,415    
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 148,530   137,086    
Allowance for credit losses on loans (924) (920) (823) (789) (795)
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 115,819   116,173    
Allowance for credit losses on loans (1,298) (1,388) (1,252) (1,088) (854)
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 127,898   109,193    
Allowance for credit losses on loans (2,021) (1,818) (1,735) (1,709) (1,624)
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 164,329   160,695    
Allowance for credit losses on loans (908) (970) (1,001) (1,005) (985)
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 302,099   265,101    
Allowance for credit losses on loans (1,287) (1,246) (1,167) (1,126) (1,228)
Commercial Portfolio Segment [Member] | Revolving Real Estate Secured By 1-4 Family Properties-Business [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 5,662   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 103,912   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 2,748   3,445    
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 17,921   18,708    
Retail Portfolio Segment [Member] | Revolving Home Equity Secured By 1-4 Family Properties-Personal [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 47,671   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 6,981   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 13,239   15,625    
Retail Portfolio Segment [Member] | Student Loans [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 1,565   1,662    
Retail Portfolio Segment [Member] | Overdrafts [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 325   194    
Allowance for credit losses on loans (28) (13) (16) (14) (13)
Retail Portfolio Segment [Member] | Other Consumer [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 1,737   1,757    
Allowance for credit losses on loans (36) (32) (34) (33) (29)
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]          
Accounts Notes And Loans Receivable [Line Items]          
Loans 111,383   108,906    
Allowance for credit losses on loans $ (394) $ (380) $ (427) $ (416) $ (433)
v3.24.3
Note 8 - Internal Risk Ratings and Payment Activity (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Financing Receivable Recorded Investment [Line Items]          
Total $ 1,171,819   $ 1,171,819   $ 1,093,771
Total, Charge-Offs 53 $ 300 143 $ 438  
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 17,921   17,921   18,708
Overdrafts [Member]          
Financing Receivable Recorded Investment [Line Items]          
Revolving, Charge-Offs     75   91
Total, Charge-Offs     75   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     6   10
Total, Charge-Offs     22   14
Student Loans [Member]          
Financing Receivable Recorded Investment [Line Items]          
Prior, Charge-Offs     23   57
Total, Charge-Offs     23   57
Commercial Portfolio Segment [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 112,225   112,225   140,159
Originated prior year-2023 141,806   141,806   190,260
Originated two years prior year-2022 178,933   178,933   141,940
Originated three years prior year 132,433   132,433   66,038
Originated four years prior year 60,021   60,021   74,696
Prior 276,417   276,417   228,994
Revolving 87,083   87,083   77,328
Total 988,918   988,918   919,415
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 18,866   18,866   20,473
Originated prior year-2023 17,827   17,827   14,439
Originated two years prior year-2022 11,648   11,648   8,574
Originated three years prior year 5,698   5,698   5,913
Originated four years prior year 3,281   3,281   8,626
Prior 9,789   9,789   7,175
Revolving 81,421   81,421   71,886
Total 148,530   148,530   137,086
Total, Charge-Offs 0 273 23 313  
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 34,676   34,676   46,171
Originated prior year-2023 41,717   41,717   43,472
Originated two years prior year-2022 14,048   14,048   14,630
Originated three years prior year 13,866   13,866   3,434
Originated four years prior year 3,270   3,270   4,028
Prior 8,242   8,242   4,438
Revolving 0   0   0
Total 115,819   115,819   116,173
Total, Charge-Offs 0 0 0 0  
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-Family Properties [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 15,374   15,374   10,826
Originated prior year-2023 17,782   17,782   28,858
Originated two years prior year-2022 27,911   27,911   23,430
Originated three years prior year 22,647   22,647   9,808
Originated four years prior year 9,444   9,444   6,508
Prior 34,740   34,740   29,763
Revolving 0   0  
Total 127,898   127,898   109,193
Total, Charge-Offs 0 0 0 0  
Commercial Portfolio Segment [Member] | Real Estate Secured By Owner-Occupied Properties [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 10,113   10,113   14,430
Originated prior year-2023 17,775   17,775   29,576
Originated two years prior year-2022 28,706   28,706   26,908
Originated three years prior year 25,640   25,640   18,693
Originated four years prior year 17,657   17,657   12,239
Prior 64,438   64,438   58,849
Revolving 0   0   0
Total 164,329   164,329   160,695
Total, Charge-Offs 0 0 0 0  
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 24,479   24,479   32,297
Originated prior year-2023 30,903   30,903   44,526
Originated two years prior year-2022 69,229   69,229   42,582
Originated three years prior year 41,135   41,135   17,798
Originated four years prior year 17,197   17,197   28,947
Prior 119,156   119,156   98,951
Revolving 0   0   0
Total 302,099   302,099   265,101
Total, Charge-Offs 0 0 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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 5,662   5,662   5,442
Total 5,662   5,662   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 8,292   8,292   14,697
Originated prior year-2023 14,313   14,313   28,785
Originated two years prior year-2022 26,809   26,809   21,027
Originated three years prior year 19,335   19,335   9,794
Originated four years prior year 8,617   8,617   8,864
Prior 26,546   26,546   20,405
Revolving 0   0   0
Total 103,912   103,912   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 15   15   558
Originated prior year-2023 540   540   604
Originated two years prior year-2022 582   582   542
Originated three years prior year 182   182   580
Originated four years prior year 545   545   40
Prior 884   884   1,121
Revolving 0   0   0
Total 2,748   2,748   3,445
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 410   410   707
Originated prior year-2023 949   949   0
Originated two years prior year-2022 0   0   4,247
Originated three years prior year 3,930   3,930   18
Originated four years prior year 10   10   5,444
Prior 12,622   12,622   8,292
Revolving 0   0   0
Total 17,921   17,921   18,708
Commercial Portfolio Segment [Member] | Pass [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 112,163   112,163   140,159
Originated prior year-2023 130,274   130,274   190,071
Originated two years prior year-2022 177,651   177,651   141,803
Originated three years prior year 131,463   131,463   66,038
Originated four years prior year 55,291   55,291   73,569
Prior 265,494   265,494   219,870
Revolving 82,938   82,938   76,158
Total 955,274   955,274   907,668
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial and Industrial [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 18,866   18,866   20,473
Originated prior year-2023 17,273   17,273   14,439
Originated two years prior year-2022 11,648   11,648   8,574
Originated three years prior year 5,566   5,566   5,913
Originated four years prior year 3,177   3,177   8,626
Prior 9,074   9,074   7,175
Revolving 77,276   77,276   70,716
Total 142,880   142,880   135,916
Commercial Portfolio Segment [Member] | Pass [Member] | Construction and Land Development [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 34,676   34,676   46,171
Originated prior year-2023 35,756   35,756   43,472
Originated two years prior year-2022 14,048   14,048   14,630
Originated three years prior year 13,866   13,866   3,434
Originated four years prior year 3,270   3,270   4,028
Prior 8,206   8,206   4,395
Revolving 0   0   0
Total 109,822   109,822   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 15,374   15,374   10,826
Originated prior year-2023 17,306   17,306   28,858
Originated two years prior year-2022 27,911   27,911   23,430
Originated three years prior year 22,647   22,647   9,808
Originated four years prior year 9,444   9,444   5,804
Prior 31,942   31,942   27,609
Revolving 0   0  
Total 124,624   124,624   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 10,051   10,051   14,430
Originated prior year-2023 13,901   13,901   29,576
Originated two years prior year-2022 27,785   27,785   26,908
Originated three years prior year 25,145   25,145   18,693
Originated four years prior year 15,501   15,501   12,239
Prior 58,324   58,324   53,030
Revolving 0   0   0
Total 150,707   150,707   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 24,479   24,479   32,297
Originated prior year-2023 30,236   30,236   44,526
Originated two years prior year-2022 69,229   69,229   42,582
Originated three years prior year 41,135   41,135   17,798
Originated four years prior year 14,873   14,873   28,947
Prior 118,418   118,418   98,173
Revolving 0   0   0
Total 298,370   298,370   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 5,662   5,662   5,442
Total 5,662   5,662   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 8,292   8,292   14,697
Originated prior year-2023 14,313   14,313   28,596
Originated two years prior year-2022 26,467   26,467   20,890
Originated three years prior year 18,992   18,992   9,794
Originated four years prior year 8,471   8,471   8,441
Prior 26,024   26,024   20,262
Revolving 0   0   0
Total 102,559   102,559   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 15   15   558
Originated prior year-2023 540   540   604
Originated two years prior year-2022 563   563   542
Originated three years prior year 182   182   580
Originated four years prior year 545   545   40
Prior 884   884   934
Revolving 0   0   0
Total 2,729   2,729   3,258
Commercial Portfolio Segment [Member] | Pass [Member] | State and Political Subdivisions [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 410   410   707
Originated prior year-2023 949   949   0
Originated two years prior year-2022 0   0   4,247
Originated three years prior year 3,930   3,930   18
Originated four years prior year 10   10   5,444
Prior 12,622   12,622   8,292
Revolving 0   0   0
Total 17,921   17,921   18,708
Commercial Portfolio Segment [Member] | Special Mention [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 62   62  
Originated prior year-2023 6,515   6,515  
Originated two years prior year-2022 0   0   137
Originated three years prior year 133   133  
Originated four years prior year 0   0  
Prior 51   51  
Revolving 0   0  
Total 6,761   6,761   137
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial and Industrial [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 0   0   0
Originated prior year-2023 554   554   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 554   554   0
Commercial Portfolio Segment [Member] | Special Mention [Member] | Construction and Land Development [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 0   0   0
Originated prior year-2023 5,961   5,961   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 5,961   5,961   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 62   62   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 51   51   0
Revolving 0   0   0
Total 113   113   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   137
Originated three years prior year 133   133   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 133   133   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   0   0
Commercial Portfolio Segment [Member] | Substandard [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 0   0  
Originated prior year-2023 5,017   5,017   189
Originated two years prior year-2022 1,282   1,282  
Originated three years prior year 837   837  
Originated four years prior year 4,730   4,730   1,127
Prior 10,872   10,872   9,124
Revolving 4,145   4,145   1,170
Total 26,883   26,883   11,610
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial and Industrial [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 0   0   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 132   132   0
Originated four years prior year 104   104   0
Prior 715   715   0
Revolving 4,145   4,145   1,170
Total 5,096   5,096   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 36   36   43
Revolving 0   0   0
Total 36   36   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 476   476  
Originated two years prior year-2022 0   0  
Originated three years prior year 0   0  
Originated four years prior year 0   0   704
Prior 2,798   2,798   2,154
Revolving 0   0  
Total 3,274   3,274   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 0   0   0
Originated prior year-2023 3,874   3,874   0
Originated two years prior year-2022 921   921    
Originated three years prior year 495   495   0
Originated four years prior year 2,156   2,156   0
Prior 6,063   6,063   5,819
Revolving 0   0   0
Total 13,509   13,509   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   0
Originated prior year-2023 667   667   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 2,324   2,324   0
Prior 738   738   778
Revolving 0   0   0
Total 3,729   3,729   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   189
Originated two years prior year-2022 342   342   0
Originated three years prior year 210   210   0
Originated four years prior year 146   146   423
Prior 522   522   143
Revolving 0   0   0
Total 1,220   1,220   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 0   0   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 19   19   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   187
Revolving 0   0   0
Total 19   19   187
Commercial Portfolio Segment [Member] | Substandard [Member] | State and Political Subdivisions [Member]          
Financing Receivable Recorded Investment [Line Items]          
Originated current year-2024 0   0   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   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   0
Originated prior year-2023 0   0   0
Originated two years prior year-2022 0   0   0
Originated three years prior year 0   0   0
Originated four years prior year 0   0   0
Prior 0   0   0
Revolving 0   0   0
Total 0   0   $ 0
State and Political Subdivisions Portfolio Segment [Member]          
Financing Receivable Recorded Investment [Line Items]          
Total, Charge-Offs $ 0 $ 0 $ 0 $ 0  
v3.24.3
Note 8 - Retail Loans by Credit Quality (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable Recorded Investment [Line Items]    
Total $ 1,171,819 $ 1,093,771
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 7,365 12,641
Originated prior year-2023 12,495 14,635
Originated two years prior year-2022 14,210 30,495
Originated three years prior year 28,987 20,304
Originated four years prior year 19,231 4,526
Prior 29,095 26,305
Revolving 0 0
Total 111,383 108,906
Retail Portfolio Segment [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] | 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 47,671 34,231
Total 47,671 34,231
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 656 2,591
Originated prior year-2023 738 1,613
Originated two years prior year-2022 1,084 2,933
Originated three years prior year 1,070 1,030
Originated four years prior year 868 931
Prior 2,565 2,883
Revolving 0 0
Total 6,981 11,981
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 3,834 6,438
Originated prior year-2023 3,453 1,632
Originated two years prior year-2022 956 2,184
Originated three years prior year 1,009 1,180
Originated four years prior year 1,002 676
Prior 2,985 3,515
Revolving 0 0
Total 13,239 15,625
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 1,565 1,662
Revolving 0 0
Total 1,565 1,662
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 325 194
Total 325 194
Retail Portfolio Segment [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 601 793
Originated prior year-2023 545 290
Originated two years prior year-2022 160 245
Originated three years prior year 127 89
Originated four years prior year 33 73
Prior 72 78
Revolving 199 189
Total 1,737 1,757
Retail Portfolio Segment [Member] | Total Retail Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 12,456 22,463
Originated prior year-2023 17,231 18,170
Originated two years prior year-2022 16,410 35,857
Originated three years prior year 31,193 22,603
Originated four years prior year 21,134 6,206
Prior 36,282 34,443
Revolving 48,195 34,614
Total 182,901 174,356
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 7,365 12,641
Originated prior year-2023 12,495 14,635
Originated two years prior year-2022 14,210 30,495
Originated three years prior year 28,987 20,304
Originated four years prior year 19,231 4,526
Prior 28,474 25,500
Revolving 0 0
Total 110,762 108,101
Retail Portfolio Segment [Member] | Performing 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] | 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 47,351 33,936
Total 47,351 33,936
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 656 2,591
Originated prior year-2023 738 1,613
Originated two years prior year-2022 992 2,933
Originated three years prior year 1,070 1,030
Originated four years prior year 868 931
Prior 2,536 2,767
Revolving 0 0
Total 6,860 11,865
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 3,834 6,438
Originated prior year-2023 3,453 1,613
Originated two years prior year-2022 939 2,184
Originated three years prior year 1,009 1,180
Originated four years prior year 1,002 676
Prior 2,985 3,515
Revolving 0 0
Total 13,222 15,606
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 1,525 1,645
Revolving 0 0
Total 1,525 1,645
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 325 194
Total 325 194
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 601 793
Originated prior year-2023 545 290
Originated two years prior year-2022 160 245
Originated three years prior year 127 89
Originated four years prior year 33 73
Prior 41 41
Revolving 199 189
Total 1,706 1,720
Retail Portfolio Segment [Member] | Performing Financial Instruments [Member] | Total Retail Loans [Member]    
Financing Receivable Recorded Investment [Line Items]    
Originated current year-2024 12,456 22,463
Originated prior year-2023 17,231 18,151
Originated two years prior year-2022 16,301 35,857
Originated three years prior year 31,193 22,603
Originated four years prior year 21,134 6,206
Prior 35,561 33,468
Revolving 47,875 34,319
Total 181,751 173,067
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 621 805
Revolving 0 0
Total 621 805
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 320 295
Total 320 295
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 92 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 29 116
Revolving 0 0
Total 121 116
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
Originated two years prior year-2022 17 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 0 0
Revolving 0 0
Total 17 19
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 40 17
Revolving 0 0
Total 40 17
Retail Portfolio Segment [Member] | Nonperforming 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 0 0
Total 0 0
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 31 37
Revolving 0 0
Total 31 37
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
Originated two years prior year-2022 109 0
Originated three years prior year 0 0
Originated four years prior year 0 0
Prior 721 975
Revolving 320 295
Total $ 1,150 $ 1,289
v3.24.3
Note 8 - Past Due Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans $ 1,171,819 $ 1,093,771
Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 978 10,771
Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 537 498
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 556 634
Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 2,071 11,903
Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,169,748 1,081,868
State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17,921 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 988,918 919,415
Commercial Portfolio Segment [Member] | Commercial and industrial    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 148,530 137,086
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 2 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 2 77
Commercial Portfolio Segment [Member] | Commercial and industrial | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 148,528 137,009
Commercial Portfolio Segment [Member] | Construction and Land Development [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 115,819 116,173
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 115,819 116,173
Commercial Portfolio Segment [Member] | Real Estate Secured by Multi-family Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 127,898 109,193
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 476 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 476 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 127,422 109,193
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 164,329 160,695
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 171 186
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 0 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 171 186
Commercial Portfolio Segment [Member] | Real estate secured by owner-occupied properties | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 164,158 160,509
Commercial Portfolio Segment [Member] | Real Estate Secured by Other Commercial Properties [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 302,099 265,101
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 302,099 255,426
Commercial Portfolio Segment [Member] | Revolving real estate secured by 1-4 family properties-business    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 5,662 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 5,662 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 103,912 103,572
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 135 323
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 135 323
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 103,777 103,249
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 2,748 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 1 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 1 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 2,747 3,445
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17,921 18,708
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 17,921 18,708
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 111,383 108,906
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 0 433
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 312 381
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 418 481
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 730 1,295
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 110,653 107,611
Retail Portfolio Segment [Member] | Construction-individual [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Construction-individual [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] | Construction-individual [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Construction-individual [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] | Construction-individual [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 0 0
Retail Portfolio Segment [Member] | Construction-individual [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 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 47,671 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 49 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 120 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 0 129
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 169 185
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 47,502 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 6,981 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 128 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 92 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 220 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 6,761 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 13,239 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 0 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 96 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 113 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 13,126 15,607
Retail Portfolio Segment [Member] | Student Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,565 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 29 6
Retail Portfolio Segment [Member] | Student Loans [Member] | Financing Receivables, Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 29 17
Retail Portfolio Segment [Member] | Student Loans [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,536 1,645
Retail Portfolio Segment [Member] | Overdrafts [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 325 194
Retail Portfolio Segment [Member] | Overdrafts [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 16 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 4 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 20 23
Retail Portfolio Segment [Member] | Overdrafts [Member] | Current Loans [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 305 171
Retail Portfolio Segment [Member] | Other Consumer [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans 1,737 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 0 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 5 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 1,732 1,749
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans $ 111,383 $ 108,906
v3.24.3
Note 8 - Non-accrual Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable   $ 0
Loans receivable   1,940
Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable   1,468
Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable   472
State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable   0
Loans receivable   0
State and Political Subdivisions [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable   0
State and Political Subdivisions [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable   0
Commercial Portfolio Segment [Member] | Commercial and industrial    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable $ 0 0
Loans receivable 29 311
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 29 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 308 175
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 308 175
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 209 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 209 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 0 165
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 0 165
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0  
Loans receivable 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  
Commercial Portfolio Segment [Member] | State and Political Subdivisions [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0  
Retail Portfolio Segment [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0  
Loans receivable 1,696  
Retail Portfolio Segment [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 1,533  
Retail Portfolio Segment [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 163  
Retail Portfolio Segment [Member] | 1-4 Family Residential Mortgages [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 621 805
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 621 805
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] | Construction-individual [Member]    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Loans receivable 0 0
Retail Portfolio Segment [Member] | Construction-individual [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 0 0
Retail Portfolio Segment [Member] | Construction-individual [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 320 295
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 186 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 134 274
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 121 116
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 121 116
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 40 17
Retail Portfolio Segment [Member] | Student Loans [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 40 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 31 37
Retail Portfolio Segment [Member] | Other Consumer [Member] | Nonaccrual With No Specifically-Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable 31 37
Retail Portfolio Segment [Member] | Other Consumer [Member] | Nonaccrual With Related ACL    
Financing Receivable Recorded Investment Past Due [Line Items]    
Loans receivable $ 0 $ 0
v3.24.3
Note 8 - Collateral-dependent Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 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 29 33
Total Collateral Dependent Nonaccrual Loans 29 311
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 308 175
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 308 175
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 209 0
Total Collateral Dependent Nonaccrual Loans 209 0
Commercial Portfolio Segment [Member] | Real estate secured by junior lein on 1-4 family properties-business [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 0 0
Other 0 0
Deficiency in Collateral 0 165
Total Collateral Dependent Nonaccrual Loans 0 165
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 1,505 1,300
Other 31 315
Deficiency in Collateral 120 308
Total Collateral Dependent Nonaccrual Loans 1,656 1,923
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 621 805
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 621 805
Retail Portfolio Segment [Member] | Construction-individual [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] | Revolving home equity secured by 1-4 family properties-personal    
Financing Receivable, Past Due [Line Items]    
Real Estate Secured 229 185
Other 0 0
Deficiency in Collateral 91 110
Total Collateral Dependent Nonaccrual Loans 320 295
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 121 116
Other 0 0
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans 121 116
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 31 37
Deficiency in Collateral 0 0
Total Collateral Dependent Nonaccrual Loans $ 31 $ 37
v3.24.3
Note 8 - Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period $ 8,858 $ 8,365 $ 8,852    
Provision for (credit to) loan losses 154 452 193 $ (1,119)  
Charge-offs (53) (300) (143) (438)  
Recoveries 28 25 85 657  
Allowance for loan losses, end of period 8,987 8,542 8,987 8,542 $ 8,852
Prior to adoption of ASC 326          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period       10,531 10,531
Impact of adopting ASC 326          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period       (1,089) (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     (23)   (57)
Overdrafts [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Charge-offs     (75)   (91)
Other Consumer [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Charge-offs     (22)   (14)
Commercial Portfolio Segment [Member] | Commercial And Industrial [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 920 795 823    
Provision for (credit to) loan losses (8) 256 87 (759)  
Charge-offs 0 (273) (23) (313)  
Recoveries 12 11 37 615  
Allowance for loan losses, end of period 924 789 924 789 823
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 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) (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 1,388 854 1,252    
Provision for (credit to) loan losses (90) 234 46 343  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 1,298 1,088 1,298 1,088 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       755 755
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) (10)
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 1,818 1,624 1,735    
Provision for (credit to) loan losses 203 85 286 30  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 2,021 1,709 2,021 1,709 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       995 995
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       684 684
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 970 985 1,001    
Provision for (credit to) loan losses (62) 20 (93) (170)  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 908 1,005 908 1,005 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 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) (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 1,246 1,228 1,167    
Provision for (credit to) loan losses 41 (102) 120 (204)  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 1,287 1,126 1,287 1,126 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 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) (1,128)
Commercial Portfolio Segment [Member] | Revolving Real Estate Secured By Family Properties-business [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 23 37 27    
Provision for (credit to) loan losses 4 (1) 0 4  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 27 36 27 36 27
Commercial Portfolio Segment [Member] | Revolving Real Estate Secured By Family Properties-business [Member] | Prior to adoption of ASC 326          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period       25 25
Commercial Portfolio Segment [Member] | Revolving Real Estate Secured By Family Properties-business [Member] | Impact of adopting ASC 326          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period       7 7
Commercial Portfolio Segment [Member] | Real Estate Secured By 1st Lein On Family Properties-Business [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 1,298 1,277 1,507    
Provision for (credit to) loan losses (16) (2) (230) (430)  
Charge-offs 0 0 0 0  
Recoveries 2 3 7 8  
Allowance for loan losses, end of period 1,284 1,278 1,284 1,278 1,507
Commercial Portfolio Segment [Member] | Real Estate Secured By 1st Lein On Family Properties-Business [Member] | Prior to adoption of ASC 326          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period       1,210 1,210
Commercial Portfolio Segment [Member] | Real Estate Secured By 1st Lein On Family Properties-Business [Member] | Impact of adopting ASC 326          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period       490 490
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 11 234 14    
Provision for (credit to) loan losses 0 (24) (3) 194  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 11 210 11 210 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 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) (14)
State and Political Subdivisions Portfolio Segment [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 44 51 55    
Provision for (credit to) loan losses 3 5 (8) (18)  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 47 56 47 56 55
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 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) (20)
Retail Portfolio Segment [Member] | Family Residential Mortgages [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 380 433 427    
Provision for (credit to) loan losses 11 (17) (36) (70)  
Charge-offs 0 0 0 0  
Recoveries 3 0 3 0  
Allowance for loan losses, end of period 394 416 394 416 427
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       682 682
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) (196)
Retail Portfolio Segment [Member] | Construction - Individual [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 0 0 0    
Provision for (credit to) loan losses 0 0 0 (1)  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 0 0 0 0 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 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 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 166 234 138    
Provision for (credit to) loan losses 9 (103) 37 (161)  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 175 131 175 131 138
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       299 299
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) (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 134 67 182    
Provision for (credit to) loan losses (5) 3 (53) (2)  
Charge-offs 0 0 0 0  
Recoveries 0 0 0 0  
Allowance for loan losses, end of period 129 70 129 70 182
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 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 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 79 86 105    
Provision for (credit to) loan losses 3 109 (23) 107  
Charge-offs 0 0 0 0  
Recoveries 0 2 0 6  
Allowance for loan losses, end of period 82 197 82 197 105
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 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 29
Retail Portfolio Segment [Member] | Student Loans [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 336 418 369    
Provision for (credit to) loan losses 15 (36) (20) (45)  
Charge-offs (17) 0 (23) (43)  
Recoveries 2 2 10 6  
Allowance for loan losses, end of period 336 384 336 384 369
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       454 454
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 12
Retail Portfolio Segment [Member] | Overdrafts [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 13 13 16    
Provision for (credit to) loan losses 29 15 65 54  
Charge-offs (22) (21) (75) (73)  
Recoveries 8 7 22 22  
Allowance for loan losses, end of period 28 14 28 14 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 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 3
Retail Portfolio Segment [Member] | Other Consumer [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Allowance for loan losses, beginning of period 32 29 34    
Provision for (credit to) loan losses 17 10 18 9  
Charge-offs (14) (6) (22) (9)  
Recoveries 1 0 6 0  
Allowance for loan losses, end of period $ 36 33 $ 36 33 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 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) (8)
Unallocated Financing Receivables [Member]          
Financing Receivable Allowance For Credit Losses [Line Items]          
Provision for (credit to) loan losses       0  
Allowance for loan losses, end of period   $ 0   0  
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       502 502
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) $ (502)
v3.24.3
Note 9 - Financial Assets Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale $ 510,036,000 $ 490,182,000
Equity securities 2,760,000 5,910,000
US Treasury Securities [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 19,005,000 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 68,241,000 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 87,414,000 89,189,000
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 205,742,000 224,238,000
Collateralized Mortgage Obligations [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Available-for-sale 123,173,000 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 6,461,000 6,209,000
Fair Value, Inputs, Level 1 [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Equity securities 2,760,000 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 509,985,000 490,130,000
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 19,005,000 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 68,241,000 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 87,414,000 89,189,000
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 205,742,000 224,238,000
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 123,173,000 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 6,410,000  
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 512,796,000 496,092,000
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 2,760,000 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 509,985,000 490,130,000
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 48,000 171,000
Nonrecurring [Member] | Collateral Dependent Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 43,000 164,000
Nonrecurring [Member] | Mortgage Servicing Rights [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Asset fair value measurements 5,000 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 48,000 171,000
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 43,000 164,000
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 $ 5,000 $ 7,000
v3.24.3
Note 9 - Fair Value Measurements and Disclosures (Details Textual)
 9 Months Ended
Sep. 30, 2024
USD ($)
Security
Issuer
Sep. 30, 2023
USD ($)
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Number of underlying issuers | Issuer 3  
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 0.079  
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  
Investment, Variable Interest Rate, Type [Extensible Enumeration] LIBOR [Member]  
v3.24.3
Note 9 - Quantitative Information about Assets Measured at Fair Value (Details)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Loans held-for-sale $ 298 $ 560
Nonrecurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]    
Asset fair value measurements 48 171
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 43 164
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 5 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 48 171
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 43 164
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 $ 5 $ 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] (10.00%) (10.00%)
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) (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) (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] $ 43 $ 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 1 year 2 years
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 30 years 30 years
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] | Measurement Input, Prepayment Speeds [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 105.00% 104.00%
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow Valuation Technique [Member] | Measurement Input, Prepayment Speeds [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 201.00% 214.00%
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 $ 5 $ 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.
v3.24.3
Note 9 - Available-for-sale Securities Measured at Fair Value Using Significant Unobservable Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]    
Balance, beginning of year $ 52 $ 53
Payments received (1) (1)
Included in earnings 0 0
Included in other comprehensive (loss) income 0 0
Transfers in and/or out of Level 3 0 0
Balance, end of year $ 51 $ 52
v3.24.3
Note 9 - Financial and Off-balance Sheet Instruments (Details) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Cash and cash equivalents $ 104,232,000 $ 62,657,000
Available-for-sale 510,036,000 490,182,000
Equity securities 2,760,000 5,910,000
Restricted investment in stocks 4,085,000 2,730,000
Loans held for sale 294,000 549,000
Net loans 1,162,374,000 1,084,681,000
Mortgage servicing rights 392,000 415,000
Accrued interest receivable 4,472,000 6,101,000
Deposits 1,626,284,000 1,488,713,000
Short-term borrowings 22,918,000 94,094,000
Long-term debt 30,000,000 20,000,000
Subordinated debt 39,030,000  
Accrued interest payable 4,738,000 5,294,000
Cash and cash equivalents 104,232,000 62,657,000
Restricted investment in stocks 4,085,000 2,730,000
Loans held for sale 298,000 560,000
Net loans 1,178,681,000 1,077,544,000
Mortgage servicing rights 561,000 585,000
Accrued interest receivable 4,472,000 6,101,000
Short-term borrowings 22,918,000 94,094,000
Long-term debt 30,060,000 19,906,000
Subordinated debt 39,700,000  
Accrued interest payable 4,738,000 5,294,000
Fair Value, Inputs, Level 1 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Equity securities 2,760,000 5,910,000
Cash and cash equivalents 104,232,000 62,657,000
Short-term borrowings 22,918,000 94,094,000
Fair Value, Inputs, Level 2 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Available-for-sale 509,985,000 490,130,000
Restricted investment in stocks 4,085,000 2,730,000
Loans held for sale 298,000 560,000
Accrued interest receivable 4,472,000 6,101,000
Long-term debt 30,060,000 19,906,000
Subordinated debt 39,700,000  
Accrued interest payable 4,738,000 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 1,178,681,000 1,077,544,000
Mortgage servicing rights 561,000 585,000
Standby Letters of Credit [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Commitments to extend credit 36,000 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 36,000 79,000
With No Stated Maturities [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits 1,245,649,000 1,173,732,000
Deposits 1,245,649,000 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 1,245,649,000 1,173,732,000
With Stated Maturities [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits 380,635,000 314,981,000
Deposits 379,723,000 311,735,000
With Stated Maturities [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Deposits $ 379,723,000 $ 311,735,000
v3.24.3
Note 10 - Financial Instrument Commitments (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Commitments And Contingencies Disclosure [Line Items]    
Total financial instrument commitments $ 405,599 $ 397,774
Commitments to Extend Credit [Member]    
Commitments And Contingencies Disclosure [Line Items]    
Total financial instrument commitments 387,142 378,954
Standby Letters of Credit [Member]    
Commitments And Contingencies Disclosure [Line Items]    
Total financial instrument commitments $ 18,457 $ 18,820
v3.24.3
Note 10 - Commitments and Contingencies (Details Textual)
 9 Months Ended
Sep. 30, 2024
USD ($)
Lease
Dec. 31, 2023
USD ($)
Commitments And Contingencies Disclosure [Line Items]    
Allowance for credit losses on unused commitments $ 99,000 $ 106,000
Number of lease renewals | Lease 2  
Standby Letters of Credit [Member]    
Commitments And Contingencies Disclosure [Line Items]    
Financial instrument commitments expire within one year $ 12,741,000  
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  
v3.24.3
Note 11 - Capital Ratios and Regulatory Minimum Requirements (Details)
$ in Thousands
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
The Company [Member]    
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]    
Capital $ 213,025 $ 167,711
Tier 1 capital 163,939 158,753
Common equity tier 1 capital 163,939 158,753
Tier 1 leverage capital $ 163,939 $ 158,753
Capital to risk-weighted assets 0.1599 0.1309
Tier 1 capital to risk-weighted assets 0.1230 0.1239
Common equity tier 1 capital to risk-weighted assets 12.30% 12.39%
Tier 1 leverage capital to average assets 0.0883 0.0892
Capital required for capital adequacy $ 106,610 $ 102,513
Tier 1 capital required for capital adequacy 79,957 76,885
Common equity tier 1 capital required for capital adequacy 59,968 57,664
Tier 1 leverage capital required for capital adequacy $ 74,241 $ 71,185
Capital required for capital adequacy to risk-weighted assets 0.0800 0.0800
Tier 1 capital required for capital adequacy to risk-weighted assets 0.0600 0.0600
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 0.0400 0.0400
Capital required to be well capitalized $ 133,262 $ 128,142
Tier 1 capital required to be well capitalized $ 79,957 $ 76,885
Capital required to be well capitalized to risk-weighted assets 0.1000 0.1000
Tier 1 capital required to be well capitalized to risk-weighted assets 0.0600 0.0600
Bank [Member]    
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]    
Capital $ 190,951 $ 154,062
Tier 1 capital 181,865 145,104
Common equity tier 1 capital 181,865 145,104
Tier 1 leverage capital $ 181,865 $ 145,104
Capital to risk-weighted assets 0.1438 0.1220
Tier 1 capital to risk-weighted assets 0.1369 0.1149
Common equity tier 1 capital to risk-weighted assets 13.69% 11.49%
Tier 1 leverage capital to average assets 0.0989 0.0818
Capital required for capital adequacy $ 106,265 $ 101,032
Tier 1 capital required for capital adequacy 79,699 75,774
Common equity tier 1 capital required for capital adequacy 59,774 56,830
Tier 1 leverage capital required for capital adequacy $ 73,542 $ 70,961
Capital required for capital adequacy to risk-weighted assets 0.0800 0.0800
Tier 1 capital required for capital adequacy to risk-weighted assets 0.0600 0.0600
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 0.0400 0.0400
Capital required to be well capitalized $ 132,831 $ 126,290
Tier 1 capital required to be well capitalized 106,265 101,032
Common equity tier 1 capital required to be well capitalized 86,340 82,088
Tier 1 leverage capital required to be well capitalized $ 91,927 $ 88,701
Capital required to be well capitalized to risk-weighted assets 0.1000 0.1000
Tier 1 capital required to be well capitalized to risk-weighted assets 0.0800 0.0800
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 0.0500 0.0500
v3.24.3
Note 12 - Schedule of Notional Amounts of Derivative Instruments (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Derivative [Line Items]    
Notional amount $ 300,000 $ 300,000
Amortized cost of hedged portfolio 414,741 440,826
Cumulative amount of fair value hedging adjustment included in carrying amount of hedged asset (4,981) (1,749)
State and Municipal Securities [Member]    
Derivative [Line Items]    
Notional amount 75,000 75,000
Amortized cost of hedged portfolio 96,878 97,373
Cumulative amount of fair value hedging adjustment included in carrying amount of hedged asset (1,368) (445)
U.S. Government agencies and GSE mortgage backed securities    
Derivative [Line Items]    
Notional amount 225,000 225,000
Amortized cost of hedged portfolio 317,863 343,453
Cumulative amount of fair value hedging adjustment included in carrying amount of hedged asset $ (3,613) $ (1,304)
v3.24.3
Note 12 - Schedule of Derivative Designated as Fair Value Hedging Instruments of Statements on Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Derivative [Line Items]        
Total $ 21,945 $ 18,497 $ 61,859 $ 49,825
Designated as Hedging Instrument [Member]        
Derivative [Line Items]        
Total 1,465 1,190 4,044 1,370
Designated as Hedging Instrument [Member] | State and Municipal Securities [Member]        
Derivative [Line Items]        
Recognized on fair value hedge 1,007 976 3,017 1,166
Recognized on hedge portfolio (661) (660) (1,989) (794)
Recognized on remeasurement of fair value hedge 57 (21) 47 (35)
Designated as Hedging Instrument [Member] | U.S. Government agencies and GSE mortgage backed securities        
Derivative [Line Items]        
Recognized on fair value hedge 3,075 2,916 9,070 3,485
Recognized on hedge portfolio (2,106) (2,015) (6,182) (2,422)
Recognized on remeasurement of fair value hedge $ 93 $ (6) $ 81 $ (30)
v3.24.3
Note 12 - Schedule of Derivative Designated as Fair Value Hedging Instruments of Accumulated Other Comprehensive (Loss) Income (Details) - Designated as Hedging Instrument [Member] - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Derivative [Line Items]    
Total $ (3,913) $ (1,382)
Accumulated Other Comprehensive Income (Loss) [Member]    
Derivative [Line Items]    
Total $ (3,913) $ (1,382)
v3.24.3
Note 13 - Subordinated Debt (Details Textual) - Subordinated Debt [Member]
Aug. 30, 2024
USD ($)
Debt Instrument [Line Items]  
Issued of aggregate principal amount $ 40,000,000
Debt instrument basis point and interest rate 5.45%
Debt instrument, frequency of periodic payment semi-annually
Debt instrument maturity date Sep. 01, 2034
Interest fixed annual rate 8.875%
Unamortized origination costs $ 970,000
Fixed to Floating Rate [Member]  
Debt Instrument [Line Items]  
Debt instrument basis point and interest rate 8.875%