MAINSTREET BANCSHARES, INC., 10-Q filed on 5/9/2025
Quarterly Report
v3.25.1
Document And Entity Information - shares
 3 Months Ended
Mar. 31, 2025
May 01, 2025
Document Information [Line Items]    
Entity Central Index Key 0001693577  
Entity Registrant Name MainStreet Bancshares, Inc.  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2025  
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 001-38817  
Entity Incorporation, State or Country Code VA  
Entity Tax Identification Number 81-2871064  
Entity Address, Address Line One 10089 Fairfax Boulevard  
Entity Address, City or Town Fairfax  
Entity Address, State or Province VA  
Entity Address, Postal Zip Code 22030  
City Area Code 703  
Local Phone Number 481-4567  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   7,704,037
Depositary Shares [Member]    
Document Information [Line Items]    
Title of 12(b) Security Depositary Shares (each representing a 1/40th interest in a share of 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock)  
Trading Symbol MNSBP  
Security Exchange Name NASDAQ  
Common Stock [Member]    
Document Information [Line Items]    
Title of 12(b) Security Common Stock  
Trading Symbol MNSB  
Security Exchange Name NASDAQ  
v3.25.1
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets [Abstract]    
Cash and due from banks $ 18,385 $ 21,351
Interest-bearing deposits at other financial institutions 159,582 161,866
Federal funds sold 24,673 24,491
Cash and cash equivalents 202,640 207,708
Investment securities available-for-sale (AFS), at fair value 55,935 55,747
Investment securities held-to-maturity (HTM), at amortized cost, net of allowance for credit losses of $0 and $0, respectively 15,657 16,078
Restricted securities, at amortized cost 33,611 30,623
Loans, net of allowance for credit losses of $19,460 and $19,450, respectively 1,811,789 1,810,556
Premises and equipment, net 13,020 13,287
Accrued interest and other receivables 9,607 11,311
Bank owned life insurance 39,809 39,507
Other Assets 40,777 43,281
Total Assets 2,222,845 2,228,098
Liabilities [Abstract]    
Non-interest bearing demand deposits 345,319 324,307
Interest-bearing demand deposits 106,033 139,780
Savings and NOW deposits 124,049 64,337
Money market deposits 511,925 560,082
Time deposits 820,999 819,288
Total deposits 1,908,325 1,907,794
Subordinated debt, net 72,138 73,039
Allowance for credit losses on off-balance sheet credit exposure 287 287
Other Liabilities 32,477 38,987
Total Liabilities 2,013,227 2,020,107
Stockholders’ Equity    
Preferred stock, $1.00 par value, 2,000,000 shares authorized; 28,750 shares issued and outstanding at March 31, 2025 and December 31, 2024 27,263 27,263
Common stock, $4.00 par value, 15,000,000 shares authorized; issued and outstanding 7,703,197 shares (including 251,042 nonvested shares) at March 31, 2025 and 7,603,765 shares (including 237,717 nonvested shares) at December 31, 2024 29,810 29,466
Capital surplus 67,612 67,823
Retained earnings 92,305 91,150
Accumulated other comprehensive loss (7,372) (7,711)
Total Stockholders’ Equity 209,618 207,991
Total Liabilities and Stockholders’ Equity $ 2,222,845 $ 2,228,098
v3.25.1
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Allowance for credit losses $ 0 $ 0
Allowance for credit loss $ 19,460 $ 19,450
Preferred Stock, Par or Stated Value Per Share (in dollars per share) $ 1 $ 1
Preferred Stock, Shares Authorized (in shares) 2,000,000 2,000,000
Preferred Stock, Shares Issued (in shares) 28,750 28,750
Preferred Stock, Shares Outstanding (in shares) 28,750 28,750
Common stock, par value (in dollars per share) $ 4 $ 4
Common stock, shares authorized (in shares) 15,000,000 15,000,000
Common stock, shares outstanding (in shares) 7,703,197 7,603,765
Common stock, shares issued (in shares) 7,703,197 7,603,765
Common stock, shares nonvested (in shares) 251,042 237,717
v3.25.1
Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest Income    
Interest and fees on loans [1] $ 31,111 $ 30,582
Interest and dividends on investments securities    
U.S. government agencies 37 30
Mortgage-backed securities 86 102
Other 233 239
Interest on interest-bearing deposits at other financial institutions 946 889
Interest on federal funds sold 223 293
Total Interest Income 32,963 32,469
Interest Expense    
Interest on interest-bearing demand deposits 1,048 1,814
Interest on savings and NOW deposits 221 157
Interest on money market deposits 5,276 5,092
Interest on time deposits 9,031 8,808
Interest on federal funds purchased 65 107
Interest on Federal Home Loan Bank advances 0 46
Interest on subordinated debt 812 820
Total Interest Expense 16,453 16,844
Net Interest Income 16,510 15,625
Provision For Credit Losses - Loans 0 164
Recovery of Credit Losses - Off-Balance Sheet Credit Exposure 0 (359)
Net Interest Income After Provision For (Recovery of) Credit Losses 16,510 15,820
Non-Interest Income    
Deposit account service charges 530 469
Bank owned life insurance income 302 292
Gain on retirement of subordinated debt 60 0
Other fee income 47 35
Total Non-Interest Income 939 796
Non-Interest Expense    
Salaries and employee benefits 8,385 7,488
Furniture and equipment expenses 1,016 935
Advertising and marketing 481 454
Occupancy expenses 396 435
Outside services 1,173 774
Franchise Tax 524 557
FDIC Insurance 360 330
Data Processing 362 312
Administrative expenses 229 242
Other operating expenses 1,388 954
Total Non-Interest Expense 14,314 12,481
Income Before Income Taxes 3,135 4,135
Income Tax Expense 682 830
Net Income 2,453 3,305
Preferred Stock Dividends 539 539
Net Income Available to Common Shareholders $ 1,914 $ 2,766
Earnings Per Common Share:    
Basic (in dollars per share) $ 0.25 $ 0.36
Diluted (in dollars per share) $ 0.25 $ 0.36
US States and Political Subdivisions Debt Securities [Member]    
Interest and dividends on investments securities    
Tax-exempt securities $ 263 $ 270
Taxable securities $ 64 $ 64
[1] Includes transfer pricing on average deposits outstanding for the period
v3.25.1
Unaudited Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Comprehensive Income, net of taxes    
Net Income $ 2,453 $ 3,305
Other comprehensive income (loss), net of tax expense (benefit):    
Unrealized gain (loss) on available-for-sale securities arising during the period (net of tax expense (benefit), $101 and ($109), respectively, for the three months ended March 31). 339 (452)
Other comprehensive income (loss) 339 (452)
Comprehensive Income $ 2,792 $ 2,853
v3.25.1
Unaudited Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Unrealized gain (loss) on available for sale securities arising during the period, tax benefit $ 101 $ (109)
v3.25.1
Unaudited Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Cumulative Effect, Period of Adoption, Adjustment [Member]
Preferred Stock [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Common Stock [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Additional Paid-in Capital [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Retained Earnings [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
AOCI Attributable to Parent [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Total
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2023 $ 0 $ 0 $ 0 $ (217) $ 0 $ (217)            
Balance at Dec. 31, 2023             $ 27,263 $ 29,198 $ 65,985 $ 106,549 $ (7,478) $ 221,517
Vesting of restricted stock             0 408 (408) 0 0 0
Stock based compensation expense             0 0 690 0 0 690
Common stock repurchased             0 (92) (327) 0 0 (419)
Dividends on preferred stock             0 0 0 (539) 0 (539)
Dividends on common stock             0 0 0 (764) 0 (764)
Net Income             0 0 0 3,305 0 3,305
Other comprehensive income             0 0 0 0 (452) (452)
Balance at Mar. 31, 2024             27,263 29,514 65,940 108,334 (7,930) 223,121
Balance at Dec. 31, 2024             27,263 29,466 67,823 91,150 (7,711) 207,991
Vesting of restricted stock             0 444 (444) 0 0 0
Stock based compensation expense             0 0 579 0 0 579
Common stock repurchased             0 (100) (346) 0 0 (446)
Dividends on preferred stock             0 0 0 (539) 0 (539)
Dividends on common stock             0 0 0 (759) 0 (759)
Net Income             0 0 0 2,453 0 2,453
Other comprehensive income             0 0 0 0 339 339
Balance at Mar. 31, 2025             $ 27,263 $ 29,810 $ 67,612 $ 92,305 $ (7,372) $ 209,618
v3.25.1
Unaudited Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dividends on preferred stock, per share (in dollars per share) $ 0.47 $ 0.47
Dividends on common stock, per share (in dollars per share) $ 0.1 $ 0.1
v3.25.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income $ 2,453 $ 3,305
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion, net 1,090 750
Amortization of right-of-use assets 129 123
Deferred income tax expense (benefit) (212) 490
Gain on retirement of subordinated debt (60) 0
Loss on disposal of premises and equipment 0 13
Recovery of credit losses, net 0 (195)
Stock based compensation expense 579 690
Income from bank owned life insurance (302) (292)
Subordinated debt amortization expense 99 99
Change in:    
Accrued interest receivable and other receivables 1,704 1,663
Other assets 2,481 (4,634)
Other liabilities (6,510) 1,631
Net cash provided by operating activities 1,451 3,643
Cash Flows from Investing Activities    
Payments, available-for-sale securities 682 579
Purchases, available-for-sale securities (502) 0
Maturities 370 0
Calls 35 0
Purchases of restricted securities (3,531) (110)
Purchases of restricted investment in bank stock (132) (1,500)
Redemption of restricted investment in bank stock 0 1,425
Net increase in loan portfolio (1,233) (22,137)
Proceeds from sale of premises and equipment 0 83
Purchase of premises and equipment (55) (607)
Computer software developed 0 (1,034)
Net cash used in investing activities (4,366) (23,301)
Cash Flows from Financing Activities    
Net increase (decrease) in non-interest bearing demand deposits 21,012 (15,661)
Net increase (decrease) in interest bearing demand, savings, and time deposits (20,481) 62,269
Net decrease in federal funds purchased 0 (15,000)
Retirement of subordinated debt (940) 0
Cash dividends paid on preferred stock (539) (539)
Cash dividends paid on common stock (759) (764)
Repurchases of common stock (446) (419)
Net cash (used in) provided by financing activities (2,153) 29,886
Increase (decrease) in Cash and Cash Equivalents (5,068) 10,228
Cash and Cash Equivalents, beginning of period 207,708 114,513
Cash and Cash Equivalents, end of period 202,640 124,741
Supplementary Disclosure of Cash Flow Information    
Cash paid during the period for interest 16,203 16,279
Cash paid during the period for income taxes 0 0
Net unrealized gain (loss) on securities available-for-sale 440 (561)
Net cumulative change in accounting principle $ 0 $ (217)
v3.25.1
Note 1 - Organization, Basis of Presentation and Impact of Recently Issued Accounting Pronouncements
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

Note 1. Organization, Basis of Presentation and Impact of Recently Issued Accounting Pronouncements

 

Organization

 

MainStreet Bancshares, Inc. (the “Company”) is a financial holding company incorporated under the laws of the Commonwealth of Virginia whose primary activity is the ownership and management of MainStreet Bank (the “Bank”). On October 12, 2021, the Company filed an election with the Federal Reserve Board to be a financial holding company in order to engage in a broader range of financial activities than are permitted for bank holding companies generally. The Company is authorized to issue 15,000,000 shares of common stock with a par value of $4.00 per share. Additionally, the Company is authorized to issue 2,000,000 shares of preferred stock at a par value $1.00 per share. There are currently 28,750 shares of preferred stock outstanding. The Company is regulated under the Bank Holding Company Act of 1956, as amended (“BHC Act”) and is subject to inspection, examination, and supervision by the Board of Governors of the Federal Reserve System (the “Federal Reserve”).

 

On April 18, 2019, the Company completed the registration of its common stock with the Securities Exchange Commission (the “SEC”) through its filing of a General Form for Registration of Securities on Form 10 (“Form 10”), pursuant to Section 12(b) of the Securities Exchange Act of 1934. The Company was considered an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, or the “JOBS Act,” and as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act” through the quarter ended September 30, 2024. The Company is no longer considered an emerging growth company but is an accelerated filer effective with the filing of the December 31, 2024 form 10-K. We are also a “smaller reporting company” as defined in Exchange Act Rule 12b-2. As such, we may elect to comply with certain reduced public company reporting requirements in future reports that we file with the SEC.

 

The Company was approved to list shares of our common stock on the Nasdaq Capital Market under our current symbol “MNSB” as of April 22, 2019. We were approved to list depositary shares of preferred stock on the Nasdaq Capital Market under the symbol “MNSBP” as of September 16, 2020. Each depositary share represents a 1/40th ownership interest in a share of 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock.

 

In  September 2021, MainStreet Bancshares, Inc. established MainStreet Community Capital, LLC, a wholly owned subsidiary, to be a community development entity (“CDE”). This CDE will be an intermediary vehicle for the provision of loans and investments in Low-Income Communities (“LICs”). In   January 2022, the Community Development Financial Institutions Fund (“CDFI”) of the United States Department of the Treasury certified MainStreet Community Capital, LLC as a registered CDE. MainStreet Community Capital's primary business objective will be to apply for and receive New Market Tax Credit ("NMTC") allocations that are awarded and distributed annually.

 

In the first quarter of 2025, the Company decided to pivot away from its Banking-as-a-service initiative and its fintech core platform Avenu, to focus on core community banking activities. Originally developed to increase low cost deposits and non-interest income, the timeline for expected return on invested capital extended beyond the Company's expected plan. 

 

The Bank is headquartered in Fairfax, Virginia where it also operates a branch. The Bank was incorporated on March 28, 2003, and received its charter from the Bureau of Financial Institutions of the Commonwealth of Virginia (the “Bureau”) on March 16, 2004. The Bank commenced regular operations on May 26, 2004, and is supervised by the Bureau and the Federal Reserve. The Bank is a member of the Federal Reserve System and the Federal Deposit Insurance Corporation. The Bank places special emphasis on serving the needs of retail customers, small and medium-sized businesses and professionals in the Washington, D.C. metropolitan area.

 

Basis of Presentation

 

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) for interim information and with the instructions to the Quarterly Report on Form 10-Q, as applicable to a smaller reporting company. Accordingly, they do not include all the information and notes required by US GAAP for complete financial statements.

 

The financial statements are unaudited; but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation thereof. The balances as of December 31, 2024 have been derived from the audited consolidated financial statements. These interim period financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto contained in the Form 10-K for the year ended December 31, 2024, filed by the Company with the SEC on March 14, 2025. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025, or any other period. The Company’s significant accounting policies followed in preparation of the unaudited consolidated financial statements, are disclosed in Note 1 of the 2024 Form 10-K. There have been no significant changes to the application of significant accounting policies since December 31, 2024.

 

Use of estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from the estimates.

 

Recently Adopted Accounting Developments

 

In  November 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendments in this ASU are intended to improve reportable segment disclosure requirements primarily through enhanced disclosure about significant segment expenses. This ASU requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), an amount for other segment items by reportable segment and a description of its composition, all annual disclosures about a reportable segment profit or loss and assets currently required by FASB ASU Topic 280 in interim periods, and the title and position of the CODM and how the CODM uses the reportable measures. Additionally, this ASU requires that at least one of the reportable segment profit and loss measures should be the measure that is most consistent with the measurement principals used in an entity's consolidated financial statements. Lastly, this ASU requires public business entities with a single reportable segment to provide all disclosures required by these amendments in this ASU and all existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after  December 15, 2023, and interim periods within fiscal years beginning after  December 15, 2024. On  December 31, 2024, the Company adopted ASU 2023-07. Refer to Note 9 for updated interim disclosures due to the adoption of ASU 2023-07.

 

In March 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-01, “Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards”. This ASU provides an illustrative example intended to demonstrate how entities that account for profits interest and similar awards would determine whether a profits interest award should be accounted for in accordance with Topic 718. ASU 2024-01 was effective for the Company on January 1, 2025 and there was no material impact to the consolidated financial statements. 

 

In March 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-02, “Codification Improvements – Amendments to Remove References to the Concepts Statements”. This ASU contains amendments to the Codification that remove references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references were used in prior Statements to provide guidance in certain topical areas. ASU 2024-02 was effective for the Company on January 1, 2025 and there was no material impact to the consolidated financial statements. 

 

Impact of Recently Issued Accounting Pronouncements

 

In  October 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.” This ASU incorporates certain U.S. Securities and Exchange Commission (SEC) disclosure requirements into the FASB Accounting Standards Codification. The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC removes that related disclosure from its rules. For all other entities, the amendments will be effective two years later. However, if by  June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity. The Company does not expect the adoption of ASU 2023-06 to have a material impact on its consolidated financial statements.

 

In  December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amendments in this ASU require an entity to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, which is greater than five percent of the amount computed by multiplying pretax income by the entity’s applicable statutory rate, on an annual basis. Additionally, the amendments in this ASU require an entity to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions that are equal to or greater than five percent of total income taxes paid (net of refunds received). Lastly, the amendments in this ASU require an entity to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. This ASU is effective for annual periods beginning after  December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis; however, retrospective application is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements.

 

In   November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 requires public companies to disclose, in the notes to the financial statements, specific information about certain costs and expenses at each interim and annual reporting period. This includes disclosing amounts related to employee compensation, depreciation, and intangible asset amortization. In addition, public companies will need to provide qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. In January 2025, the FASB subsequently issued ASU 2025-01, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date”, which amends the effective date of ASU 2024-03 to clarify that all public business entities are required to adopt the guidance in ASU 2024-03 in annual reporting periods beginning after  December 15, 2026, and interim periods within annual reporting periods beginning after  December 15, 2027. Early adoption of ASU 2024-03 is permitted. Implementation of ASU 2024-03  may be applied prospectively or retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements.

 
v3.25.1
Note 2 - Investment Securities
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Investment [Text Block]

Note 2. Investment Securities

 

The following tables summarize the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at March 31, 2025 and December 31, 2024 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss. The Company did not record an allowance for credit losses ("ACL") on its securities available-for-sale or held-to-maturity portfolio as of March 31, 2025 and  December 31, 2024.

 

Investment securities available-for-sale was comprised of the following:

 

  

March 31, 2025

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Collateralized Mortgage Backed

 $21,134  $6  $(3,652) $17,488 

Subordinated Debt

  8,970   —   (926)  8,044 

Preferred Stock

  456   —   —   456 

Municipal Securities:

                

Taxable

  10,617   —   (2,164)  8,453 

Tax-exempt

  21,988   —   (2,820)  19,168 

U.S. Governmental Agencies

  2,344   5   (23)  2,326 

Total

 $65,509  $11  $(9,585) $55,935 

 

Investment securities held-to-maturity was comprised of the following:

 

  

March 31, 2025

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Municipal Securities:

                

Tax-exempt

 $13,157  $2  $(292) $12,867 

Subordinated Debt

  2,500   —   (13)  2,487 

Total

 $15,657  $2  $(305) $15,354 

 

Investment securities available-for-sale was comprised of the following:

 

  

December 31, 2024

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Collateralized Mortgage Backed

 $21,298  $—  $(4,105) $17,193 

Subordinated Debt

  8,971   —   (1,064)  7,907 

Preferred Stock

  453   —   —   453 

Municipal Securities:

                

Taxable

  10,623   —   (2,422)  8,201 

Tax-exempt

  22,024   —   (2,403)  19,621 

U.S. Governmental Agencies

  2,392   4   (24)  2,372 

Total

 $65,761  $4  $(10,018) $55,747 

 

Investment securities held-to-maturity was comprised of the following:

 

  

December 31, 2024

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Municipal Securities:

                

Tax-exempt

 $13,578  $1  $(200) $13,379 

Subordinated Debt

  2,500   —   (14)  2,486 

Total

 $16,078  $1  $(214) $15,865 

 

For HTM securities, the Company evaluates the credit risk of its securities on at least a quarterly basis. The primary indicators of credit quality for the Company’s HTM portfolio are security type and credit rating, which is influenced by a number of factors including obligor cash flow, geography, seniority, and others. The majority of the Company’s HTM securities with credit risk are obligations of states and political subdivisions. The Company’s HTM securities ACL was immaterial at   March 31, 2025 and  December 31, 2024.

 

The following table presents the amortized cost of HTM securities as of  March 31, 2025 and  December 31, 2024 by security type and credit rating:

 

(Dollars in thousands)

 

Municipal Securities

  

Subordinated Debt

  

Total HTM securities

 

March 31, 2025

            

Credit Rating:

            

AAA/AA/A

 $13,157  $—  $13,157 

Not Rated - Non Agency

  —   2,500   2,500 

Total

 $13,157  $2,500  $15,657 

December 31, 2024

            

Credit Rating:

            

AAA/AA/A

 $13,578  $—  $13,578 

Not Rated - Non Agency

  —   2,500  $2,500 

Total

 $13,578  $2,500  $16,078 

 

As of  March 31, 2025 and  December 31, 2024, the Company had no securities held-to-maturity that were past due 30 days or more as to principal or interest payments. The Company had no securities held-to-maturity classified as nonaccrual as of  March 31, 2025 and  December 31, 2024.

 

The scheduled maturities of securities available-for-sale and held-to-maturity at  March 31, 2025 were as follows:

 

  

March 31, 2025

 
  

Available-for-Sale

  

Held-to-Maturity

 

(Dollars in thousands)

 

Amortized Cost

  

Fair Value

  

Amortized Cost

  

Fair Value

 

Due in one year or less

 $1,000  $995  $—  $— 

Due from one to five years

  —   —   4,016   3,984 

Due from after five to ten years

  14,458   13,188   5,939   5,869 

Due after ten years

  50,051   41,752   5,702   5,501 

Total

 $65,509  $55,935  $15,657  $15,354 

 

The scheduled maturities of securities available-for-sale and held-to-maturity at  December 31, 2024 were as follows:

 

  

December 31, 2024

 
  

Available-for-Sale

  

Held-to-Maturity

 

(Dollars in thousands)

 

Amortized Cost

  

Fair Value

  

Amortized Cost

  

Fair Value

 

Due in one year or less

 $1,000  $993  $370  $370 

Due from one to five years

  —   —   4,017   3,973 

Due from after five to ten years

  14,430   12,997   5,945   5,886 

Due after ten years

  50,331   41,757   5,746   5,636 

Total

 $65,761  $55,747  $16,078  $15,865 

 

Securities with a fair value of $396,000 and $394,000 were pledged at March 31, 2025 and December 31, 2024, respectively. 

 

The following tables summarize the fair value and unrealized loss positions of securities available-for-sale as of March 31, 2025 and December 31, 2024, aggregated by security type and length of time that individual securities have been in a continuous loss position:

 

  

March 31, 2025

 
  

Less than 12 Months

  

12 Months or Longer

  

Total

 

(Dollars in thousands)

 

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

 

Available-for-sale:

                        

Collateralized Mortgage Backed

 $—  $—  $16,896  $(3,652) $16,896  $(3,652)

Subordinated Debt

  215   (34)  7,329   (892)  7,544   (926)

Municipal securities:

                        

Taxable

  —   —   8,453   (2,164)  8,453   (2,164)

Tax-exempt

  3,018   (46)  16,150   (2,774)  19,168   (2,820)

U.S. Governmental Agencies

  —   —   609   (23)  609   (23)

Total

 $3,233  $(80) $49,437  $(9,505) $52,670  $(9,585)

 

  

December 31, 2024

 
  

Less than 12 Months

  

12 Months or Longer

  

Total

 

(Dollars in thousands)

 

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

 

Available-for-sale:

                        

Collateralized Mortgage Backed

 $—  $—  $17,105  $(4,105) $17,105  $(4,105)

Subordinated Debt

  215   (35)  7,191   (1,029)  7,406   (1,064)

Municipal Securities:

                        

Taxable

  —   —   8,201   (2,422)  8,201   (2,422)

Tax-exempt

  2,658   (36)  16,593   (2,367)  19,251   (2,403)

U.S. Government Agencies

  —   —   614   (24)  614   (24)

Total

 $2,873  $(71) $49,704  $(9,947) $52,577  $(10,018)

 

The factors considered in evaluating securities for impairment include whether the Bank intends to sell the security, whether it is more likely than not that the Bank will be required to sell the security before recovery of its amortized cost basis, and whether the Bank expects to recover the security’s entire amortized cost basis. These unrealized losses are primarily attributable to current financial market conditions for these types of investments, particularly changes in interest rates, causing bond prices to decline, and are not attributable to credit deterioration. The following description provides the number of investment positions in an unrealized loss position and approximate duration of that loss position.

 

At  March 31, 2025, there were six tax-exempt municipal securities with a fair value totaling $3.0 million and one subordinated debt security totaling $215,000 in an unrealized loss position of less than 12 months. At  March 31, 2025, there were twenty-two collateralized mortgage backed securities with fair values totaling $16.9 million, nineteen subordinated debt securities totaling $7.3 million, twenty-eight tax-exempt municipal securities with a fair value totaling $16.2 million, eleven taxable municipal securities with fair values totaling $8.5 million, and six government agency securities with a fair value totaling $609,000 in an unrealized loss position of more than 12 months.   

 

The Company periodically invests in New Market Tax Credit (NMTC) opportunities, related primarily to certain community development projects. The Company receives tax credits related to these investments, for which the Company typically acts as a limited partner and therefore does not exert control over the operating or financial policies of the partnerships. These tax credits are subject to recapture by taxing authorities based on compliance features required to be met at the project level. On  January 1, 2024, the Company transitioned from the equity method of accounting and began applying the proportional amortization method of accounting to its qualifying new markets tax credit investments in addition to its low income housing tax credit partnerships already subject to the proportional amortization method. At March 31, 2025 and December 31, 2024, the balance of the investments in new market tax credits was $12.4 million and $9.4 million. These balances are reflected in the restricted securities at amortized cost line on the consolidated statements of financial condition. During the three-month period ended  March 31, 2025 and 2024, the Company recognized amortization expense of $501,000 and $263,000, respectively, which was included within the income tax expense line item on the consolidated statements of income and the depreciation, amortization, and accretion, net line item on the consolidated statements of cash flows. 

 

Restricted equity securities also consist of the Federal Reserve Bank and Federal Home Loan Bank of Atlanta (“FHLB”) stock in the amount of $5.3 million and $1.5 million respectively, as of  March 31, 2025, compared to $5.3 million and $1.4 million, respectively, as of  December 31, 2024; $126,800 in Community Bankers Bank stock as of  March 31, 2025 and  December 31, 2024; Low-Income Housing Tax Credits (“LIHTC”) in the amount of $7.4 million and $7.6 million as of  March 31, 2025 and  December 31, 2024; and nonmarketable securities in the amount of $6.7 million as of  March 31, 2025 and  December 31, 2024. 

 

 

  
v3.25.1
Note 3 - Loans Receivable
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Allowance for Credit Losses [Text Block]

Note 3. Loans Receivable

 

Loans receivable were comprised of the following:

 

(Dollars in thousands)

 

March 31, 2025

  

December 31, 2024

 

Residential Real Estate:

        

Single Family

 $204,692  $204,357 

Multifamily

  246,407   234,884 

Farmland

  225   240 

Commercial Real Estate:

        

Owner Occupied

  380,894   372,412 

Non-Owner Occupied

  552,455   525,792 

Construction and Land Development

  344,816   393,385 

Commercial – Non Real Estate:

        

Commercial & Industrial

  105,180   102,354 

Consumer – Non Real Estate:

        

Unsecured

  287   343 

Secured

  1,045   1,231 

Total Gross Loans

  1,836,001   1,834,998 

Less: Unearned Fees, net

  (4,752)  (4,992)

Less: Allowance for Credit Losses - Loans

  (19,460)  (19,450)

Net Loans

 $1,811,789  $1,810,556 

 

The unsecured consumer loans above include $287,000 and $343,000 of overdrafts reclassified as loans at March 31, 2025 and December 31, 2024, respectively.

 

The following tables present the amortized cost basis by segments of the loan portfolio summarized by aging categories as of March 31, 2025 and December 31, 2024:

 

  

March 31, 2025

 

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater than 90 Days Past Due and Still Accruing

  

Nonaccrual

  

Current

  

Total Loans Receivable

 

Residential Real Estate:

                        

Single Family

 $4,264  $1,676  $—  $4,897  $193,855  $204,692 

Multifamily

  —   —   —   606   245,801   246,407 

Farmland

  —   —   —   —   225   225 

Commercial Real Estate:

                        

Owner Occupied

  4,500   —   —   —   376,394   380,894 

Non-Owner Occupied

  —   —   —   11,160   541,295   552,455 

Construction and Land Development

  25,822   3,793   —   35   315,166   344,816 

Commercial – Non Real Estate:

                        

Commercial & Industrial

  —   —   —   4,966   100,214   105,180 

Consumer – Non Real Estate:

                        

Unsecured

  —   —   —   —   287   287 

Secured

  —   —   —   —   1,045   1,045 

Total

 $34,586  $5,469  $—  $21,664  $1,774,282  $1,836,001 

 

  

December 31, 2024

 

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater than 90 Days Past Due and Still Accruing

  

Nonaccrual

  

Current

  

Total Loans Receivable

 

Residential Real Estate:

                        

Single Family

 $—  $62  $—  $1,162  $203,133  $204,357 

Multifamily

  —   —   —   —   234,884   234,884 

Farmland

  —   —   —   —   240   240 

Commercial Real Estate:

                        

Owner Occupied

  —   —   —   —   372,412   372,412 

Non-Owner Occupied

  —   —   —   11,160   514,632   525,792 

Construction and Land Development

  —   —   —   4,235   389,150   393,385 

Commercial – Non Real Estate:

                        

Commercial & Industrial

  —   —   —   5,093   97,261   102,354 

Consumer – Non Real Estate:

                        

Unsecured

  —   —   —   —   343   343 

Secured

  —   —   —   —   1,231   1,231 

Total

 $—  $62  $—  $21,650  $1,813,286  $1,834,998 

 

The following tables summarize the activity in the allowance for credit losses on loans by loan class for the three months ended March 31, 2025 and 2024.

 

Allowance for Credit Losses By Portfolio Segment

 

  

Real Estate

             

For the three months ended March 31, 2025

 

Residential

  

Commercial

  

Construction

  

Commercial

  

Consumer

  

Total

 

(Dollars in thousands)

                        

Beginning Balance

 $2,478  $11,321  $4,648  $993  $10  $19,450 

Charge-offs

  —   —   —   —   —   — 

Recoveries

  2   —   —   7   1   10 

Provision for (recovery of) credit losses

  12   74   (546)  463   (3)  — 

Ending Balance

 $2,492  $11,395  $4,102  $1,463  $8  $19,460 

 

  

Real Estate

             

For the three months ended March 31, 2024

 

Residential

  

Commercial

  

Construction

  

Commercial

  

Consumer

  

Total

 

(Dollars in thousands)

                        

Beginning Balance

 $2,594  $8,888  $3,575  $1,435  $14  $16,506 

Charge-offs

  (132)  —   —   —   (9)  (141)

Recoveries

  —   —   —   —   2   2 

Provision for (recovery of) credit losses

  6   860   (248)  (466)  12   164 

Ending Balance

 $2,468  $9,748  $3,327  $969  $19  $16,531 

 

The following table is a summary of the Company's nonaccrual loans by major categories for the periods indicated.

 

  

March 31, 2025

 

(Dollars in thousands)

 

Nonaccrual Loans with No Allowance

  

Nonaccrual Loans with an Allowance

  

Total Nonaccrual Loans

 

Residential Real Estate:

            

Single Family

 $4,897  $—  $4,897 

Multifamily

  606   —   606 

Commercial Real Estate:

            

Non Owner-Occupied

  11,160   —   11,160 

Construction and Land Development

  35   —   35 

Commercial & Industrial

  4,597   369   4,966 

Total

 $21,295  $369  $21,664 

 

  

December 31, 2024

 

(Dollars in thousands)

 

Nonaccrual Loans with No Allowance

  

Nonaccrual Loans with an Allowance

  

Total Nonaccrual Loans

 

Residential Real Estate:

            

Single Family

 $1,162  $—  $1,162 

Commercial Real Estate:

            

Non Owner-Occupied

  11,160   —   11,160 

Construction and Land Development

  4,235   —   4,235 

Commercial & Industrial

  5,093   —   5,093 

Total

 $21,650  $—  $21,650 

 

The following table represents the accrued interest receivables written off by reversing interest income during the three months ended March 31, 2025. 

 

  

For the three months ended March 31,

 
  

2025

 

(Dollars in thousands)

    

Residential Real Estate:

    

Single Family

 $90 

Multifamily

  14 

Total

 $104 

 

  

For the three months ended March 31,

 
  

2024

 

(Dollars in thousands)

    

Residential Real Estate:

    

Single Family

 $8 

Construction and Land Development

  297 

Commercial & Industrial

  94 

Total

 $399 

 

 

The Company has certain loans for which repayment is dependent upon the operation or sale of collateral, as the borrower is experiencing financial difficulty. The underlying collateral can vary based upon the type of loan. The following provides more detail about the types of collateral that secure collateral dependent loans:

 

●Residential real estate loans, including equity lines of credit, are typically secured by first mortgages, and in some cases could be secured by a second mortgage.
●Commercial real estate loans can be secured by either owner-occupied commercial real estate or non-owner-occupied investment commercial real estate. Typically, owner-occupied commercial real estate loans are secured by office buildings, warehouses, manufacturing facilities and other commercial and industrial properties occupied by operating companies. Non-owner-occupied commercial real estate loans are generally secured by office buildings and complexes, retail facilities, multifamily complexes, land under development, industrial properties, as well as other commercial or industrial real estate where our borrower is the lessor.
●Construction and land development loans are secured by real property where loan funds will be used to acquire land and to construct or improve appropriately zoned real property for the creation of income producing or owner-user commercial properties.
●Commercial and industrial loans are generally secured by equipment, inventory, accounts receivable, and other commercial property.
●Consumer loans are generally secured by automobiles, motorcycles, recreational vehicles and other personal property. Some consumer loans are unsecured and have no underlying collateral.


The following table details the amortized cost of collateral dependent loans for the periods indicated:

 

(Dollars in thousands)

 

March 31, 2025

 

Residential Real Estate:

    

Single Family

 $9,169 

Multifamily

  3,773 

Commercial Real Estate:

    

Non-Owner Occupied

  11,477 

Construction and Land Development

  25,811 

Commercial & Industrial

  8,712 

Total

 $58,942 

    

(Dollars in thousands)

 

December 31, 2024

 

Residential Real Estate:

    

Single Family

 $5,484 

Multifamily

  3,197 

Commercial Real Estate:

    

Non-Owner Occupied

  11,488 

Construction and Land Development

  28,374 

Commercial & Industrial

  8,880 

Total

 $57,423 

  

As of  March 31, 2025, there were two residential real estate loans totaling $592,600 in the process of foreclosure.

 

The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company uses a weighted average remaining life model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification.

 

Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Company modifies loans by providing principal forgiveness on certain loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses.

 

In some cases, the Company will modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. 

 

The following table shows the amortized cost basis of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of loans and type of concession granted and describes the financial effect of the modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2025 and March 31, 2024. 

 

  

March 31, 2025

 
             

(Dollars in thousands)

 

Amortized Cost Basis

  

% of Total Loan Type

  

Financial Effect

 

Commercial & Industrial

 $4,272   4.1%  Interest rate decrease; extended term for eight months 

Total

 $4,272         

 

  

March 31, 2024

 
             

(Dollars in thousands)

 

Amortized Cost Basis

  

% of Total Loan Type

  

Financial Effect

 

Residential Real Estate:

            

Single Family

 $364   0.2% 

Deferred loan payment for three months

 

Construction and Land Development

  12,057   2.9% 

Extended term on interest only payments for six months

 

Commercial & Industrial

  743   1.0% 

Extended term on interest only payments for three months

 

Total

 $13,164         

 

The Company monitors loan payments on performing and non-performing loans on an ongoing basis to determine if a loan is considered to have a payment default. Of the loans modified during the 12 months prior to borrowers experiencing financial difficulties, only one relationship consisting of two loans for $14.2 million was over 30 days past due as of March 31, 2025 and none were in payment default as of March 31, 2025. Of the loans modified during the 12 months prior to March 31, 2024, to borrowers experiencing financial difficulties, none were past due or in payment default as of March 31, 2024.

 

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Credit quality risk ratings include regulatory classifications of Pass, Watch, Criticized (Special Mention), Classified (Substandard), Doubtful, and Loss. Loans classified as Pass have quality metrics to support that the loan will be repaid according to the terms established. Loans classified as Watch have similar characteristics as Pass loans with some emerging signs of financial weaknesses that should be monitored closer. Loans classified as Watch are included in the Pass totals in the following tables. Loans classified as Criticized have potential weaknesses that deserve management’s close attention. If uncorrected, the potential weaknesses  may result in deterioration of prospects for repayment. Loans classified as Classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They include loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified Doubtful have all the weaknesses inherent in Classified loans with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as a Loss are considered uncollectible and are charged to the allowance for credit losses. Loans not classified are rated Pass.

 

The following tables summarize the amortized cost basis by aggregate Pass and categories of Criticized and Classified within the Company’s internal risk rating system by year of origination as of March 31, 2025 and December 31, 2024.  The following tables also summarize gross charge-offs, by year of origination as of and for the three months ended March 31, 2025 and as of and for the year ended  December 31, 2024.

 

  

Term Loans Amortized Cost Basis by Origination Year

             

March 31, 2025

                                    

(Dollars in thousands)

 

2025

  

2024

  

2023

  

2022

  

2021

  

Prior

  

Revolving Loans

  

Revolving Loans converted to term

  

Total

 

Residential Real Estate - Single Family

                                    

Pass

 $1,964  $15,955  $43,061  $16,734  $29,971  $59,102  $24,778  $—  $191,565 

Criticized

  —   500   —   —   —   3,436   —   —   3,936 

Classified

  —   200   —   1,371   6,217   1,332   71   —   9,191 

Total Residential Real Estate - Single Family

 $1,964  $16,655  $43,061  $18,105  $36,188  $63,870  $24,849  $—  $204,692 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Residential Real Estate - Multifamily

                                    

Pass

 $—  $13,128  $13,028  $69,437  $27,106  $61,848  $604  $—  $185,151 

Criticized

  —   —   26,250   —   11,703   19,514   —   —   57,467 

Classified

  —   —   —   —   3,183   606   —   —   3,789 

Total Residential Real Estate - Multifamily

 $—  $13,128  $39,278  $69,437  $41,992  $81,968  $604  $—  $246,407 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Residential Real Estate - Farmland

                                    

Pass

 $—  $95  $—  $—  $—  $130  $—  $—  $225 

Total Residential Real Estate - Farmland

 $—  $95  $—  $—  $—  $130  $—  $—  $225 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Owner Occupied

                                    

Pass

 $19,244  $35,372  $66,516  $80,812  $37,480  $111,270  $24,637  $—  $375,331 

Criticized

  —   —   4,500   —   1,063   —   —   —   5,563 

Total Commercial Real Estate - Owner Occupied

 $19,244  $35,372  $71,016  $80,812  $38,543  $111,270  $24,637  $—  $380,894 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Non-Owner Occupied

                                    

Pass

 $4,122  $42,290  $7,470  $191,776  $55,513  $191,387  $32,859  $—  $525,417 

Criticized

  —   —   —   —   —   15,560   —   —   15,560 

Classified

  —   —   11,160   —   —   318   —   —   11,478 

Total Commercial Real Estate - Non-Owner Occupied

 $4,122  $42,290  $18,630  $191,776  $55,513  $207,265  $32,859  $—  $552,455 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Construction and Land Development

                                    

Pass

 $612  $652  $5,358  $18,417  $476  $829  $292,437  $—  $318,781 

Classified

  —   —   —   1,950   —   —   24,085   —   26,035 

Total Construction and Land Development

 $612  $652  $5,358  $20,367  $476  $829  $316,522  $—  $344,816 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial & Industrial

                                    

Pass

 $4,943  $34,033  $6,595  $10,043  $3,191  $8,651  $28,965  $—  $96,421 

Criticized

  —   —   —   —   —   —   50   —   50 

Classified

  —   312   —   —   3,705   1,545   3,147   —   8,709 

Total Commercial & Industrial

 $4,943  $34,345  $6,595  $10,043  $6,896  $10,196  $32,162  $—  $105,180 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Consumer - Unsecured

                                    

Pass

 $—  $—  $—  $—  $—  $—  $287  $—  $287 

Total Consumer - Unsecured

 $—  $—  $—  $—  $—  $—  $287  $—  $287 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Consumer - Secured

                                    

Pass

 $71  $178  $38  $148  $—  $512  $98  $—  $1,045 

Total Consumer - Secured

 $71  $178  $38  $148  $—  $512  $98  $—  $1,045 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Total

                                    

Pass

 $30,956  $141,703  $142,066  $387,367  $153,737  $433,729  $404,665  $—  $1,694,223 

Criticized

  —   500   30,750   —   12,766   38,510   50   —   82,576 

Classified

  —   512   11,160   3,321   13,105   3,801   27,303   —   59,202 

Total

 $30,956  $142,715  $183,976  $390,688  $179,608  $476,040  $432,018  $—  $1,836,001 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 

 

  

Term Loans Amortized Cost Basis by Origination Year

             

December 31, 2024

                                    

(Dollars in thousands)

 

2024

  

2023

  

2022

  

2021

  

2020

  

Prior

  

Revolving Loans

  

Revolving Loans converted to term

  

Total

 

Residential Real Estate - Single Family

                                    

Pass

 $18,439  $44,460  $17,803  $26,055  $29,482  $32,065  $24,643  $—  $192,947 

Criticized

  500   —   393   1,596   3,436   —   —   —   5,925 

Classified

  200   —   —   3,507   1,338   —   440   —   5,485 

Total Residential Real Estate - Single Family

 $19,139  $44,460  $18,196  $31,158  $34,256  $32,065  $25,083  $—  $204,357 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $132  $—  $—  $132 
                                     

Residential Real Estate - Multifamily

                                    

Pass

 $12,163  $5,314  $69,629  $24,693  $38,226  $23,199  $390  $—  $173,614 

Criticized

  —   26,250   —   11,703   606   19,514   —   —   58,073 

Classified

  —   —   —   3,197   —   —   —   —   3,197 

Total Residential Real Estate - Multifamily

 $12,163  $31,564  $69,629  $39,593  $38,832  $42,713  $390  $—  $234,884 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Residential Real Estate - Farmland

                                    

Pass

 $106  $—  $—  $—  $—  $134  $—  $—  $240 

Total Residential Real Estate - Farmland

 $106  $—  $—  $—  $—  $134  $—  $—  $240 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Owner Occupied

                                    

Pass

 $35,483  $67,043  $81,427  $41,167  $38,446  $79,425  $24,921  $—  $367,912 

Criticized

  —   4,500   —   —   —   —   —   —   4,500 

Classified

  —   —   —   —   —   —   —   —   — 

Total Commercial Real Estate - Owner Occupied

 $35,483  $71,543  $81,427  $41,167  $38,446  $79,425  $24,921  $—  $372,412 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Non-Owner Occupied

                                    

Pass

 $46,243  $7,549  $154,994  $58,931  $46,057  $152,963  $31,903  $—  $498,640 

Criticized

  —   —   —   —   15,664   —   —   —   15,664 

Classified

  —   11,160   —   —   328   —   —   —   11,488 

Total Commercial Real Estate - Non-Owner Occupied

 $46,243  $18,709  $154,994  $58,931  $62,049  $152,963  $31,903  $—  $525,792 

Current period gross charge-offs

 $—  $740  $—  $—  $—  $—  $—  $—  $740 
                                     

Construction and Land Development

                                    

Pass

 $3,149  $5,358  $19,680  $8,849  $718  $234  $325,885  $—  $363,873 

Criticized

  —   —   —   —   —   —   1,138   —   1,138 

Classified

  —   —   1,950   —   —   —   26,424   —   28,374 

Total Construction and Land Development

 $3,149  $5,358  $21,630  $8,849  $718  $234  $353,447  $—  $393,385 

Current period gross charge-offs

 $—  $289  $—  $259  $3,136  $—  $—  $—  $3,684 
                                     

Commercial & Industrial

                                    

Pass

 $32,769  $7,197  $10,237  $3,793  $2,026  $7,550  $29,902  $—  $93,474 

Classified

  319   —   —   3,712   —   1,600   3,249   —   8,880 

Total Commercial & Industrial

 $33,088  $7,197  $10,237  $7,505  $2,026  $9,150  $33,151  $—  $102,354 

Current period gross charge-offs

 $4  $—  $—  $—  $—  $—  $—  $—  $4 
                                     

Consumer - Unsecured

                                    

Pass

 $—  $—  $—  $—  $—  $—  $343  $—  $343 

Total Consumer - Unsecured

 $—  $—  $—  $—  $—  $—  $343  $—  $343 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Consumer - Secured

                                    

Pass

 $187  $41  $184  $—  $13  $721  $85  $—  $1,231 

Total Consumer - Secured

 $187  $41  $184  $—  $13  $721  $85  $—  $1,231 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $9  $—  $—  $9 
                                     

Total

                                    

Pass

 $148,539  $136,962  $353,954  $163,488  $154,968  $296,291  $438,072  $—  $1,692,274 

Criticized

  500   30,750   393   13,299   19,706   19,514   1,138   —   85,300 

Classified

  519   11,160   1,950   10,416   1,666   1,600   30,113   —   57,424 

Total

 $149,558  $178,872  $356,297  $187,203  $176,340  $317,405  $469,323  $—  $1,834,998 

Current period gross charge-offs

 $4  $1,029  $—  $259  $3,136  $141  $—  $—  $4,569 

 

Unfunded Commitments

 

The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not unconditionally cancellable (i.e., the commitment cannot be canceled at any time). The allowance for off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding study derived from internal information, and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for credit losses on loans. The allowance for credit losses for unfunded loan commitments of $287,000 and $650,000 at March 31, 2025 and March 31, 2024, is separately classified on the balance sheet.


The following table presents the balance and activity in the allowance for credit losses for off-balance sheet credit exposure for the three months ended March 31, 2025 and 2024, respectively. 

 

Three months ended March 31, 2025

 

Total Allowance for Credit Losses on Off-Balance Sheet Credit Exposure

 

(Dollars in thousands)

   

Balance, December 31, 2024

 $287 

Balance, March 31, 2025

 $287 

 

Three months ended March 31, 2024

 

Total Allowance for Credit Losses on Off-Balance Sheet Credit Exposure

 

(Dollars in thousands)

   

Balance, December 31, 2023

 $1,009 

Recovery of off-balance sheet credit losses, net

  (359)

Balance, March 31, 2024

 $650 

 
v3.25.1
Note 4 - Derivatives and Risk Management Activities
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Derivative Instruments and Hedging Activities Disclosure [Text Block]

Note 4. Derivatives and Risk Management Activities

 

The Company uses derivative financial instruments (“derivatives”) primarily to assist customers with their risk management objectives. The Company classifies these items as free standing derivatives consisting of customer accommodation interest rate loan swaps (“interest rate loan swaps”). The Company enters into interest rate swaps with certain qualifying commercial loan customers to meet their interest rate risk management needs. The Company simultaneously enters into interest rate swaps with dealer counterparties, with identical notional amounts and terms. The net result of these interest rate swaps is that the customer pays a fixed rate of interest and the Company receives a floating rate. These back-to-back interest rate loan swaps qualify as financial derivatives with fair values reported in “Other assets” and “Other liabilities” in the consolidated financial statements. Changes in fair value are recorded in other noninterest expense and net to zero because of the identical amounts and terms of the interest rate loan swaps.

 

The following tables summarize key elements of the Company’s derivative instruments as of March 31, 2025 and December 31, 2024.

 

March 31, 2025

                    

Customer-related interest rate contracts

                    

(Dollars in thousands)

 

Notional Amount

  

Number of Positions

  

Assets

  

Liabilities

  

Collateral Pledges

 

Matched interest rate swap with borrower

 $215,165   39  $—  $17,233  $— 

Matched interest rate swap with counterparty

 $215,165   39  $17,233  $—  $— 

 

December 31, 2024

                    

Customer-related interest rate contracts

                    

(Dollars in thousands)

 

Notional Amount

  

Number of Positions

  

Assets

  

Liabilities

  

Collateral Pledges

 

Matched interest rate swap with borrower

 $230,417   43  $—  $21,715  $— 

Matched interest rate swap with counterparty

 $230,417   43  $21,715  $—  $— 

 

The Company is able to recognize fee income upon execution of the interest rate swap contract. The Company did not record any interest rate swap fee income for the three months ended March 31, 2025 or 2024. 

 
v3.25.1
Note 5 - Fair Value Presentation
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

Note 5. Fair Value Presentation

 

In accordance with FASB ASC 820, “Fair Value Measurements and Disclosure”, the Bank uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Bank’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

 

The fair value guidance provides a consistent definition of fair value, which focuses on exit price in the principal or most advantageous market for the asset or liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is the most representative of fair value under current market conditions.

 

In accordance with the guidance, a hierarchy of valuation techniques is based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Bank’s market assumptions. The three levels of the fair value hierarchy under FASB ASC 820 based on these two types of inputs are as follows:

 

Level 1 –Valuation is based on quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.

 

Level 2 –Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market.

 

Level 3 –Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market.

 

The following describes the valuation techniques used by the Bank to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the financial statements:

 

Securities available for sale

 

Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Third party vendors compile prices from various sources and may determine the fair value of identical or similar securities by using pricing models that consider observable market data (Level 2). In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. As of March 31, 2025, and December 31, 2024, the Bank’s entire portfolio of available for sale securities are considered to be Level 2 securities, with the exception of one subordinated debt security and one preferred stock security which are considered Level 3.

 

Derivative asset (liability) – interest rate swaps on loans

 

As discussed in “Note 4: “Derivatives and Risk Management Activities”, the Bank recognizes interest rate swaps at fair value on a recurring basis. The Bank has contracted with a third party vendor to provide valuations for these interest rate swaps using standard valuation techniques and therefore classifies such interest rate swaps as Level 2.

 

The following tables provide the fair value for assets required to be measured and reported at fair value on a recurring basis as of March 31, 2025 and December 31, 2024:

 

  

March 31, 2025

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Investment securities available-for-sale:

                

Collateralized Mortgage Backed

 $—  $17,488  $—  $17,488 

Subordinated Debt

  —   7,794   250   8,044 

Preferred Stock

  —   —   456   456 

Municipal Securities:

                

Taxable

  —   8,453   —   8,453 

Tax-exempt

  —   19,168   —   19,168 

U.S. Government Agencies

  —   2,326   —   2,326 

Derivative asset – interest rate swap on loans

  —   17,233   —   17,233 

Total

 $—  $72,462  $706  $73,168 

Liabilities:

                

Derivative liability – interest rate swap on loans

 $—  $17,233  $—  $17,233 

Total

 $—  $17,233  $—  $17,233 

 

  

December 31, 2024

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Investment securities available-for-sale:

                

Collateralized Mortgage Backed

 $—  $17,193  $—  $17,193 

Subordinated Debt

  —   7,657   250   7,907 

Preferred Stock

  —   —   453   453 

Municipal Securities:

                

Taxable

  —   8,201   —   8,201 

Tax-exempt

  —   19,621   —   19,621 

U.S. Government Agencies

  —   2,372   —   2,372 

Derivative asset – interest rate swap on loans

  —   21,715   —   21,715 

Total

 $—  $76,759  $703  $77,462 

Liabilities:

                

Derivative liability – interest rate swap on loans

 $—  $21,715  $—  $21,715 

Total

 $—  $21,715  $—  $21,715 

 

The table below shows the activity to the fair value of level three instruments during the three months ended March 31, 2025. 

 

Reconciliation of Level 3 Inputs

 

(Dollars in thousands)

 

December 31, 2024 fair value

 $703 

Change in fair value (1)

  3 

March 31, 2025 fair value

 $706 

(1) - The change in fair value from December 31, 2024 to March 31, 2025 is due to accretion of the underlying security given that it was purchased at a discount. The change in fair value is not due to fluctuating market conditions. 

 

Certain assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets.

 

The Company did not have any assets that were measured at fair value on a nonrecurring basis as  December 31, 2024. The following table summarizes the value of the Bank's assets as of   March 31, 2025 that were measured at fair value on a nonrecurring basis during the period:

 

  March 31, 2025 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Collateral dependent loans with a specific reserve

                

Commercial & Industrial

 $—  $—  $134  $134 

Total

 $—  $—  $134  $134 
                 

 

  

Fair Value Measurements at March 31, 2025

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Collateral dependent loans with a specific reserve

    

 

 

 

    

Commercial & Industrial

 $134 

Appraisals/Discounted Cash Flows

 

Discount to reflect current market conditions or cash flows and estimated selling costs.

  3% - 10% 

Total

 $134        

 

Fair Value of Financial Instruments

 

FASB ASC 825, Financial Instruments, requires disclosure about fair value of financial instruments, including those financial assets and financial liabilities that are not required to be measured and reported at fair value on a recurring or nonrecurring basis. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. In accordance with ASU 2016-01, the Company uses the exit price notion, rather than the entry price notion, in calculating the fair values of financial instruments not measured at fair value on a recurring basis.

 

The following tables reflect the carrying amounts and estimated fair values of the Company’s financial instruments whether or not recognized on the Consolidated Statement of Financial Condition at fair value.

 

March 31, 2025

 

Carrying

  

Estimated

  

Quoted Prices in Active Markets for Identical Assets

  

Significant Other Observable Inputs

  

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 

Assets:

                    

Cash and cash equivalents

 $202,640  $202,640  $202,640  $—  $— 

Securities:

                    

Available-for-sale

  55,935   55,935   —   55,229   706 

Held-to-maturity

  15,657   15,354   —   15,354   — 

Restricted securities

  33,611   33,611   —   33,611   — 

Loans, net

  1,811,789   1,808,292   —   —   1,808,292 

Derivative asset – interest rate swap on loans

  17,233   17,233   —   17,233   — 

Bank owned life insurance

  39,809   39,809   —   39,809   — 

Accrued interest receivable

  9,107   9,107   —   9,107   — 

Liabilities:

                    

Deposits

 $1,908,325  $1,908,604  $—  $1,087,326  $821,278 

Subordinated debt, net

  72,138   67,658   —   67,658   — 

Derivative liability – interest rate swaps on loans

  17,233   17,233   —   17,233   — 

Accrued interest payable

  3,065   3,065   —   3,065   — 

 

December 31, 2024

 

Carrying

  

Estimated

  

Quoted Prices in Active Markets for Identical Assets

  

Significant Other Observable Inputs

  

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 

Assets:

                    

Cash and cash equivalents

 $207,708  $207,708  $207,708  $—  $— 

Securities:

                    

Available-for-sale

  55,747   55,747   —   55,044   703 

Held-to-maturity

  16,078   15,865   —   15,865   — 

Restricted equity securities

  30,623   30,623   —   30,623   — 

Loans, net

  1,810,556   1,806,846   —   —   1,806,846 

Derivative asset – interest rate swap on loans

  21,715   21,715   —   21,715   — 

Bank owned life insurance

  39,507   39,507   —   39,507   — 

Accrued interest receivable

  9,059   9,059   —   9,059   — 

Liabilities:

                    

Deposits

 $1,907,794  $1,910,018  $—  $1,088,506  $821,512 

Subordinated debt, net

  73,039   67,239   —   67,239   — 

Derivative liability – interest rate swaps on loans

  21,715   21,715   —   21,715   — 

Accrued interest payable

  3,362   3,362   —   3,362   — 

 

The above 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 the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. Assumptions utilized in the aggregation of fair value of our loan portfolio include prepayment rates, probability of default and loss given default, and discount rates on cash flows. Our third party valuation utilizes average data by homogenous loan segments nationwide and may not properly reflect the characteristics of our specific portfolio. There were no changes in methodologies or transfers between levels at March 31, 2025 and December 31, 2024.

 
v3.25.1
Note 6 - Earnings Per Common Share
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 6. Earnings Per Common Share

 

Basic earnings per common share excludes dilution and is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock which then shared in the earnings of the Company. There were no such potentially dilutive securities outstanding in 2025 or 2024.

 

The weighted average number of shares used in the calculation of basic and diluted earnings per common share includes unvested restricted shares of the Company’s common stock outstanding. Applicable guidance requires that outstanding un-vested share-based payment awards that contain voting rights and rights to non-forfeitable dividends participate in undistributed earnings with common shareholders.

 

  

For the Three Months Ended March 31,

 

(Dollars in thousands, except for share and per share data)

 

2025

  

2024

 

Net income

 $2,453  $3,305 

Preferred stock dividends

  (539)  (539)

Net income available to common shareholders

 $1,914  $2,766 

Weighted average number of common shares issued, basic and diluted

  7,636,191   7,611,990 

Earnings per common share:

        

Basic and diluted earnings per common share

 $0.25  $0.36 

 
v3.25.1
Note 7 - Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]

Note 7. Accumulated Other Comprehensive Loss

 

The following table presents the cumulative balances of the components of accumulated other comprehensive loss, net of deferred taxes, as of March 31, 2025 and December 31, 2024:

 

(Dollars in thousands)

  March 31, 2025   December 31, 2024 

Unrealized loss on investment securities available-for-sale

 $(9,574) $(10,014)

Tax benefit

  2,202   2,303 

Total accumulated other comprehensive loss

 $(7,372) $(7,711)

 
v3.25.1
Note 8 - Leases
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

Note 8. Leases

 

Lessee Arrangements -  Right-of-use assets and lease liabilities are included in other assets and other liabilities, respectively, in the Consolidated Statements of Financial Condition.

 

Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. The incremental borrowing rate was equal to the rate of borrowing from the FHLB that aligned with the term of the lease contract. Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor.

 

The Company’s long-term lease agreements are classified as operating leases. Certain of these leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations.

 

The following table presents the balance of leases as of March 31, 2025 and December 31, 2024, and activity in leases for the three months ended March 31, 2025 and 2024, respectively:

 

  

As of March 31,

  

As of December 31,

 

(Dollars in thousands)

 

2025

  

2024

 

Lease liabilities

 $6,349  $6,474 

Right-of-use assets

 $5,632  $5,761 

Weighted-average remaining lease term – operating leases (in months).

  143.2   145.4 

Weighted-average discount rate – operating leases

  2.81%  2.81%

 

  

For the three months ended March 31,

 

(Dollars in thousands)

 

2025

  

2024

 

Lease Cost

        

Operating lease cost

 $174  $171 

Total lease costs

 $174  $171 

Cash paid for amounts included in measurement of lease liabilities

 $170  $163 

 

As of  March 31, 2025 and  December 31, 2024, all of the Company’s lease obligations are classified as operating leases. The Company does not have any finance lease obligations.

 

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities as of  March 31, 2025 is as follows:

 

(Dollars in thousands)

    

2025

 $522 

2026

  709 

2027

  588 

2028

  594 

2029

  605 

Thereafter

  4,363 

Total undiscounted cash flows

  7,381 

Discount

  (1,032)

Lease liabilities

 $6,349 

 

Lessor Arrangements - The Company is the lessor for five operating leases. One lease is extended on a month-to-month basis while four of these leases have arrangements for over twelve months with an option to extend the lease terms. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. The Company's leases generally do not contain non-lease components. Total rent income on these operating leases is approximately $10,000 per month.

 
v3.25.1
Note 9 - Segment Reporting
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 9: Segment Reporting

 

Segment performance is evaluated using income before income taxes. Indirect expenses are allocated on revenue. Transactions among segments are made at fair value. Information reported internally for performance assessment by the chief operating decision makers follows, inclusive of reconciliations of significant segment totals to the financial statements:

 

  

Three months ended March 31, 2025

 

(Dollars in thousands)

 

Core Banking

  

Financial Technology

  

Consolidated

 

Interest income - loans, including fees - (1)

 $30,776  $335  $31,111 

Interest income - investments, other

  1,852   —   1,852 

Service charge income

  308   222   530 

Other fee income

  409   —   409 

Total

 $33,345  $557  $33,902 

Less:

            

Total consolidated interest expense

  16,406   47   16,453 

Segment gross profit

 $16,939  $510  $17,449 

Less:

            

Salaries and employee benefits

  6,894   1,491   8,385 

Furniture and equipment expenses

  718   298   1,016 

Advertising and marketing

  417   64   481 

Outside services

  399   774   1,173 

Other operating expenses

  3,150   109   3,259 

Total non-interest expense

  11,578   2,736   14,314 

Segment profit (loss)

 $5,361  $(2,226) $3,135 
             

Segment assets

  2,222,779   66   2,222,845 

(1) - Includes transfer pricing on average deposits outstanding for the period

 

  

Three months ended March 31, 2024

 

(Dollars in thousands)

 

Core Banking

  

Financial Technology

  

Consolidated

 

Interest income - loans, including fees - (1)

 $30,092  $490  $30,582 

Interest income - investments, other

  1,887   —   1,887 

Service charge income

  315   154   469 

Other fee income

  327   —   327 

Total

 $32,621  $644  $33,265 

Less:

            

Total consolidated interest expense

  16,838   6   16,844 

Segment gross profit

 $15,783  $638  $16,421 

Less:

            

Provision for credit losses

  (195)  —   (195)

Salaries and employee benefits

  7,117   371   7,488 

Furniture and equipment expenses

  779   156   935 

Advertising and marketing

  427   27   454 

Outside services

  371   403   774 

Other operating expenses

  2,723   107   2,830 

Total non-interest expense

  11,222   1,064   12,286 

Segment profit (loss)

 $4,561  $(426) $4,135 
             

Segment assets

  2,054,247   15,768   2,070,015 

(1) - Includes transfer pricing on average deposits outstanding for the period

 

The Software as a Service (SaaS) solution related to Avenu was deployed in October 2024. Once the software was deployed, the capitalization of certain costs ceased. During the three months ended March 31, 2025, costs that were incurred related to the software were expensed rather than capitalized, which caused the fluctuation in the segment loss for the Financial Technology segment compared to the three months ended March 31, 2024.

 
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual [Table]  
Material Terms of Trading Arrangement [Text Block]

Item 5 - Other Information 

 

During the fiscal quarter ended March 31, 2025, none of the Company's directors or executive officers informed the Company of the adoption, modification, or termination of any contract, instruction, or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any non-Rule 10b5-1 trading arrangement. 
Rule 10b5-1 Arrangement Adopted [Flag] false
Non-Rule 10b5-1 Arrangement Adopted [Flag] false
Rule 10b5-1 Arrangement Terminated [Flag] false
Non-Rule 10b5-1 Arrangement Terminated [Flag] false
v3.25.1
Note 2 - Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Debt Securities, Available-for-Sale [Table Text Block]
  

March 31, 2025

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Collateralized Mortgage Backed

 $21,134  $6  $(3,652) $17,488 

Subordinated Debt

  8,970   —   (926)  8,044 

Preferred Stock

  456   —   —   456 

Municipal Securities:

                

Taxable

  10,617   —   (2,164)  8,453 

Tax-exempt

  21,988   —   (2,820)  19,168 

U.S. Governmental Agencies

  2,344   5   (23)  2,326 

Total

 $65,509  $11  $(9,585) $55,935 
  

December 31, 2024

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Collateralized Mortgage Backed

 $21,298  $—  $(4,105) $17,193 

Subordinated Debt

  8,971   —   (1,064)  7,907 

Preferred Stock

  453   —   —   453 

Municipal Securities:

                

Taxable

  10,623   —   (2,422)  8,201 

Tax-exempt

  22,024   —   (2,403)  19,621 

U.S. Governmental Agencies

  2,392   4   (24)  2,372 

Total

 $65,761  $4  $(10,018) $55,747 
Debt Securities, Held-to-Maturity [Table Text Block]
  

March 31, 2025

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Municipal Securities:

                

Tax-exempt

 $13,157  $2  $(292) $12,867 

Subordinated Debt

  2,500   —   (13)  2,487 

Total

 $15,657  $2  $(305) $15,354 
  

December 31, 2024

 

(Dollars in thousands)

 

Amortized Cost

  

Gross Unrealized Gains

  

Gross Unrealized Losses

  

Fair Value

 

Municipal Securities:

                

Tax-exempt

 $13,578  $1  $(200) $13,379 

Subordinated Debt

  2,500   —   (14)  2,486 

Total

 $16,078  $1  $(214) $15,865 
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block]

(Dollars in thousands)

 

Municipal Securities

  

Subordinated Debt

  

Total HTM securities

 

March 31, 2025

            

Credit Rating:

            

AAA/AA/A

 $13,157  $—  $13,157 

Not Rated - Non Agency

  —   2,500   2,500 

Total

 $13,157  $2,500  $15,657 

December 31, 2024

            

Credit Rating:

            

AAA/AA/A

 $13,578  $—  $13,578 

Not Rated - Non Agency

  —   2,500  $2,500 

Total

 $13,578  $2,500  $16,078 
Investments Classified by Contractual Maturity Date [Table Text Block]
  

March 31, 2025

 
  

Available-for-Sale

  

Held-to-Maturity

 

(Dollars in thousands)

 

Amortized Cost

  

Fair Value

  

Amortized Cost

  

Fair Value

 

Due in one year or less

 $1,000  $995  $—  $— 

Due from one to five years

  —   —   4,016   3,984 

Due from after five to ten years

  14,458   13,188   5,939   5,869 

Due after ten years

  50,051   41,752   5,702   5,501 

Total

 $65,509  $55,935  $15,657  $15,354 
  

December 31, 2024

 
  

Available-for-Sale

  

Held-to-Maturity

 

(Dollars in thousands)

 

Amortized Cost

  

Fair Value

  

Amortized Cost

  

Fair Value

 

Due in one year or less

 $1,000  $993  $370  $370 

Due from one to five years

  —   —   4,017   3,973 

Due from after five to ten years

  14,430   12,997   5,945   5,886 

Due after ten years

  50,331   41,757   5,746   5,636 

Total

 $65,761  $55,747  $16,078  $15,865 
Gain (Loss) on Securities [Table Text Block]
  

March 31, 2025

 
  

Less than 12 Months

  

12 Months or Longer

  

Total

 

(Dollars in thousands)

 

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

 

Available-for-sale:

                        

Collateralized Mortgage Backed

 $—  $—  $16,896  $(3,652) $16,896  $(3,652)

Subordinated Debt

  215   (34)  7,329   (892)  7,544   (926)

Municipal securities:

                        

Taxable

  —   —   8,453   (2,164)  8,453   (2,164)

Tax-exempt

  3,018   (46)  16,150   (2,774)  19,168   (2,820)

U.S. Governmental Agencies

  —   —   609   (23)  609   (23)

Total

 $3,233  $(80) $49,437  $(9,505) $52,670  $(9,585)
  

December 31, 2024

 
  

Less than 12 Months

  

12 Months or Longer

  

Total

 

(Dollars in thousands)

 

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

  

Fair Value

  

Unrealized Loss

 

Available-for-sale:

                        

Collateralized Mortgage Backed

 $—  $—  $17,105  $(4,105) $17,105  $(4,105)

Subordinated Debt

  215   (35)  7,191   (1,029)  7,406   (1,064)

Municipal Securities:

                        

Taxable

  —   —   8,201   (2,422)  8,201   (2,422)

Tax-exempt

  2,658   (36)  16,593   (2,367)  19,251   (2,403)

U.S. Government Agencies

  —   —   614   (24)  614   (24)

Total

 $2,873  $(71) $49,704  $(9,947) $52,577  $(10,018)
v3.25.1
Note 3 - Loans Receivable (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

(Dollars in thousands)

 

March 31, 2025

  

December 31, 2024

 

Residential Real Estate:

        

Single Family

 $204,692  $204,357 

Multifamily

  246,407   234,884 

Farmland

  225   240 

Commercial Real Estate:

        

Owner Occupied

  380,894   372,412 

Non-Owner Occupied

  552,455   525,792 

Construction and Land Development

  344,816   393,385 

Commercial – Non Real Estate:

        

Commercial & Industrial

  105,180   102,354 

Consumer – Non Real Estate:

        

Unsecured

  287   343 

Secured

  1,045   1,231 

Total Gross Loans

  1,836,001   1,834,998 

Less: Unearned Fees, net

  (4,752)  (4,992)

Less: Allowance for Credit Losses - Loans

  (19,460)  (19,450)

Net Loans

 $1,811,789  $1,810,556 
Financing Receivable, Past Due [Table Text Block]
  

March 31, 2025

 

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater than 90 Days Past Due and Still Accruing

  

Nonaccrual

  

Current

  

Total Loans Receivable

 

Residential Real Estate:

                        

Single Family

 $4,264  $1,676  $—  $4,897  $193,855  $204,692 

Multifamily

  —   —   —   606   245,801   246,407 

Farmland

  —   —   —   —   225   225 

Commercial Real Estate:

                        

Owner Occupied

  4,500   —   —   —   376,394   380,894 

Non-Owner Occupied

  —   —   —   11,160   541,295   552,455 

Construction and Land Development

  25,822   3,793   —   35   315,166   344,816 

Commercial – Non Real Estate:

                        

Commercial & Industrial

  —   —   —   4,966   100,214   105,180 

Consumer – Non Real Estate:

                        

Unsecured

  —   —   —   —   287   287 

Secured

  —   —   —   —   1,045   1,045 

Total

 $34,586  $5,469  $—  $21,664  $1,774,282  $1,836,001 
  

December 31, 2024

 

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater than 90 Days Past Due and Still Accruing

  

Nonaccrual

  

Current

  

Total Loans Receivable

 

Residential Real Estate:

                        

Single Family

 $—  $62  $—  $1,162  $203,133  $204,357 

Multifamily

  —   —   —   —   234,884   234,884 

Farmland

  —   —   —   —   240   240 

Commercial Real Estate:

                        

Owner Occupied

  —   —   —   —   372,412   372,412 

Non-Owner Occupied

  —   —   —   11,160   514,632   525,792 

Construction and Land Development

  —   —   —   4,235   389,150   393,385 

Commercial – Non Real Estate:

                        

Commercial & Industrial

  —   —   —   5,093   97,261   102,354 

Consumer – Non Real Estate:

                        

Unsecured

  —   —   —   —   343   343 

Secured

  —   —   —   —   1,231   1,231 

Total

 $—  $62  $—  $21,650  $1,813,286  $1,834,998 
Financing Receivable, Allowance for Credit Loss [Table Text Block]
  

Real Estate

             

For the three months ended March 31, 2025

 

Residential

  

Commercial

  

Construction

  

Commercial

  

Consumer

  

Total

 

(Dollars in thousands)

                        

Beginning Balance

 $2,478  $11,321  $4,648  $993  $10  $19,450 

Charge-offs

  —   —   —   —   —   — 

Recoveries

  2   —   —   7   1   10 

Provision for (recovery of) credit losses

  12   74   (546)  463   (3)  — 

Ending Balance

 $2,492  $11,395  $4,102  $1,463  $8  $19,460 
  

Real Estate

             

For the three months ended March 31, 2024

 

Residential

  

Commercial

  

Construction

  

Commercial

  

Consumer

  

Total

 

(Dollars in thousands)

                        

Beginning Balance

 $2,594  $8,888  $3,575  $1,435  $14  $16,506 

Charge-offs

  (132)  —   —   —   (9)  (141)

Recoveries

  —   —   —   —   2   2 

Provision for (recovery of) credit losses

  6   860   (248)  (466)  12   164 

Ending Balance

 $2,468  $9,748  $3,327  $969  $19  $16,531 
Financing Receivable, Nonaccrual [Table Text Block]
  

March 31, 2025

 

(Dollars in thousands)

 

Nonaccrual Loans with No Allowance

  

Nonaccrual Loans with an Allowance

  

Total Nonaccrual Loans

 

Residential Real Estate:

            

Single Family

 $4,897  $—  $4,897 

Multifamily

  606   —   606 

Commercial Real Estate:

            

Non Owner-Occupied

  11,160   —   11,160 

Construction and Land Development

  35   —   35 

Commercial & Industrial

  4,597   369   4,966 

Total

 $21,295  $369  $21,664 
  

December 31, 2024

 

(Dollars in thousands)

 

Nonaccrual Loans with No Allowance

  

Nonaccrual Loans with an Allowance

  

Total Nonaccrual Loans

 

Residential Real Estate:

            

Single Family

 $1,162  $—  $1,162 

Commercial Real Estate:

            

Non Owner-Occupied

  11,160   —   11,160 

Construction and Land Development

  4,235   —   4,235 

Commercial & Industrial

  5,093   —   5,093 

Total

 $21,650  $—  $21,650 
Financing Receivable, Accrued Interest, Writeoff [Table Text Block]
  

For the three months ended March 31,

 
  

2025

 

(Dollars in thousands)

    

Residential Real Estate:

    

Single Family

 $90 

Multifamily

  14 

Total

 $104 
  

For the three months ended March 31,

 
  

2024

 

(Dollars in thousands)

    

Residential Real Estate:

    

Single Family

 $8 

Construction and Land Development

  297 

Commercial & Industrial

  94 

Total

 $399 

 
Financing Receivable, Collateral Dependent Loans [Table Text Block]

(Dollars in thousands)

 

March 31, 2025

 

Residential Real Estate:

    

Single Family

 $9,169 

Multifamily

  3,773 

Commercial Real Estate:

    

Non-Owner Occupied

  11,477 

Construction and Land Development

  25,811 

Commercial & Industrial

  8,712 

Total

 $58,942 

(Dollars in thousands)

 

December 31, 2024

 

Residential Real Estate:

    

Single Family

 $5,484 

Multifamily

  3,197 

Commercial Real Estate:

    

Non-Owner Occupied

  11,488 

Construction and Land Development

  28,374 

Commercial & Industrial

  8,880 

Total

 $57,423 
Financing Receivable, Modified [Table Text Block]
  

March 31, 2025

 
             

(Dollars in thousands)

 

Amortized Cost Basis

  

% of Total Loan Type

  

Financial Effect

 

Commercial & Industrial

 $4,272   4.1%  Interest rate decrease; extended term for eight months 

Total

 $4,272         
  

March 31, 2024

 
             

(Dollars in thousands)

 

Amortized Cost Basis

  

% of Total Loan Type

  

Financial Effect

 

Residential Real Estate:

            

Single Family

 $364   0.2% 

Deferred loan payment for three months

 

Construction and Land Development

  12,057   2.9% 

Extended term on interest only payments for six months

 

Commercial & Industrial

  743   1.0% 

Extended term on interest only payments for three months

 

Total

 $13,164         
Financing Receivable Credit Quality Indicators [Table Text Block]
  

Term Loans Amortized Cost Basis by Origination Year

             

March 31, 2025

                                    

(Dollars in thousands)

 

2025

  

2024

  

2023

  

2022

  

2021

  

Prior

  

Revolving Loans

  

Revolving Loans converted to term

  

Total

 

Residential Real Estate - Single Family

                                    

Pass

 $1,964  $15,955  $43,061  $16,734  $29,971  $59,102  $24,778  $—  $191,565 

Criticized

  —   500   —   —   —   3,436   —   —   3,936 

Classified

  —   200   —   1,371   6,217   1,332   71   —   9,191 

Total Residential Real Estate - Single Family

 $1,964  $16,655  $43,061  $18,105  $36,188  $63,870  $24,849  $—  $204,692 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Residential Real Estate - Multifamily

                                    

Pass

 $—  $13,128  $13,028  $69,437  $27,106  $61,848  $604  $—  $185,151 

Criticized

  —   —   26,250   —   11,703   19,514   —   —   57,467 

Classified

  —   —   —   —   3,183   606   —   —   3,789 

Total Residential Real Estate - Multifamily

 $—  $13,128  $39,278  $69,437  $41,992  $81,968  $604  $—  $246,407 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Residential Real Estate - Farmland

                                    

Pass

 $—  $95  $—  $—  $—  $130  $—  $—  $225 

Total Residential Real Estate - Farmland

 $—  $95  $—  $—  $—  $130  $—  $—  $225 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Owner Occupied

                                    

Pass

 $19,244  $35,372  $66,516  $80,812  $37,480  $111,270  $24,637  $—  $375,331 

Criticized

  —   —   4,500   —   1,063   —   —   —   5,563 

Total Commercial Real Estate - Owner Occupied

 $19,244  $35,372  $71,016  $80,812  $38,543  $111,270  $24,637  $—  $380,894 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Non-Owner Occupied

                                    

Pass

 $4,122  $42,290  $7,470  $191,776  $55,513  $191,387  $32,859  $—  $525,417 

Criticized

  —   —   —   —   —   15,560   —   —   15,560 

Classified

  —   —   11,160   —   —   318   —   —   11,478 

Total Commercial Real Estate - Non-Owner Occupied

 $4,122  $42,290  $18,630  $191,776  $55,513  $207,265  $32,859  $—  $552,455 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Construction and Land Development

                                    

Pass

 $612  $652  $5,358  $18,417  $476  $829  $292,437  $—  $318,781 

Classified

  —   —   —   1,950   —   —   24,085   —   26,035 

Total Construction and Land Development

 $612  $652  $5,358  $20,367  $476  $829  $316,522  $—  $344,816 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial & Industrial

                                    

Pass

 $4,943  $34,033  $6,595  $10,043  $3,191  $8,651  $28,965  $—  $96,421 

Criticized

  —   —   —   —   —   —   50   —   50 

Classified

  —   312   —   —   3,705   1,545   3,147   —   8,709 

Total Commercial & Industrial

 $4,943  $34,345  $6,595  $10,043  $6,896  $10,196  $32,162  $—  $105,180 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Consumer - Unsecured

                                    

Pass

 $—  $—  $—  $—  $—  $—  $287  $—  $287 

Total Consumer - Unsecured

 $—  $—  $—  $—  $—  $—  $287  $—  $287 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Consumer - Secured

                                    

Pass

 $71  $178  $38  $148  $—  $512  $98  $—  $1,045 

Total Consumer - Secured

 $71  $178  $38  $148  $—  $512  $98  $—  $1,045 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Total

                                    

Pass

 $30,956  $141,703  $142,066  $387,367  $153,737  $433,729  $404,665  $—  $1,694,223 

Criticized

  —   500   30,750   —   12,766   38,510   50   —   82,576 

Classified

  —   512   11,160   3,321   13,105   3,801   27,303   —   59,202 

Total

 $30,956  $142,715  $183,976  $390,688  $179,608  $476,040  $432,018  $—  $1,836,001 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
  

Term Loans Amortized Cost Basis by Origination Year

             

December 31, 2024

                                    

(Dollars in thousands)

 

2024

  

2023

  

2022

  

2021

  

2020

  

Prior

  

Revolving Loans

  

Revolving Loans converted to term

  

Total

 

Residential Real Estate - Single Family

                                    

Pass

 $18,439  $44,460  $17,803  $26,055  $29,482  $32,065  $24,643  $—  $192,947 

Criticized

  500   —   393   1,596   3,436   —   —   —   5,925 

Classified

  200   —   —   3,507   1,338   —   440   —   5,485 

Total Residential Real Estate - Single Family

 $19,139  $44,460  $18,196  $31,158  $34,256  $32,065  $25,083  $—  $204,357 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $132  $—  $—  $132 
                                     

Residential Real Estate - Multifamily

                                    

Pass

 $12,163  $5,314  $69,629  $24,693  $38,226  $23,199  $390  $—  $173,614 

Criticized

  —   26,250   —   11,703   606   19,514   —   —   58,073 

Classified

  —   —   —   3,197   —   —   —   —   3,197 

Total Residential Real Estate - Multifamily

 $12,163  $31,564  $69,629  $39,593  $38,832  $42,713  $390  $—  $234,884 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Residential Real Estate - Farmland

                                    

Pass

 $106  $—  $—  $—  $—  $134  $—  $—  $240 

Total Residential Real Estate - Farmland

 $106  $—  $—  $—  $—  $134  $—  $—  $240 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Owner Occupied

                                    

Pass

 $35,483  $67,043  $81,427  $41,167  $38,446  $79,425  $24,921  $—  $367,912 

Criticized

  —   4,500   —   —   —   —   —   —   4,500 

Classified

  —   —   —   —   —   —   —   —   — 

Total Commercial Real Estate - Owner Occupied

 $35,483  $71,543  $81,427  $41,167  $38,446  $79,425  $24,921  $—  $372,412 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Commercial Real Estate - Non-Owner Occupied

                                    

Pass

 $46,243  $7,549  $154,994  $58,931  $46,057  $152,963  $31,903  $—  $498,640 

Criticized

  —   —   —   —   15,664   —   —   —   15,664 

Classified

  —   11,160   —   —   328   —   —   —   11,488 

Total Commercial Real Estate - Non-Owner Occupied

 $46,243  $18,709  $154,994  $58,931  $62,049  $152,963  $31,903  $—  $525,792 

Current period gross charge-offs

 $—  $740  $—  $—  $—  $—  $—  $—  $740 
                                     

Construction and Land Development

                                    

Pass

 $3,149  $5,358  $19,680  $8,849  $718  $234  $325,885  $—  $363,873 

Criticized

  —   —   —   —   —   —   1,138   —   1,138 

Classified

  —   —   1,950   —   —   —   26,424   —   28,374 

Total Construction and Land Development

 $3,149  $5,358  $21,630  $8,849  $718  $234  $353,447  $—  $393,385 

Current period gross charge-offs

 $—  $289  $—  $259  $3,136  $—  $—  $—  $3,684 
                                     

Commercial & Industrial

                                    

Pass

 $32,769  $7,197  $10,237  $3,793  $2,026  $7,550  $29,902  $—  $93,474 

Classified

  319   —   —   3,712   —   1,600   3,249   —   8,880 

Total Commercial & Industrial

 $33,088  $7,197  $10,237  $7,505  $2,026  $9,150  $33,151  $—  $102,354 

Current period gross charge-offs

 $4  $—  $—  $—  $—  $—  $—  $—  $4 
                                     

Consumer - Unsecured

                                    

Pass

 $—  $—  $—  $—  $—  $—  $343  $—  $343 

Total Consumer - Unsecured

 $—  $—  $—  $—  $—  $—  $343  $—  $343 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $—  $—  $—  $— 
                                     

Consumer - Secured

                                    

Pass

 $187  $41  $184  $—  $13  $721  $85  $—  $1,231 

Total Consumer - Secured

 $187  $41  $184  $—  $13  $721  $85  $—  $1,231 

Current period gross charge-offs

 $—  $—  $—  $—  $—  $9  $—  $—  $9 
                                     

Total

                                    

Pass

 $148,539  $136,962  $353,954  $163,488  $154,968  $296,291  $438,072  $—  $1,692,274 

Criticized

  500   30,750   393   13,299   19,706   19,514   1,138   —   85,300 

Classified

  519   11,160   1,950   10,416   1,666   1,600   30,113   —   57,424 

Total

 $149,558  $178,872  $356,297  $187,203  $176,340  $317,405  $469,323  $—  $1,834,998 

Current period gross charge-offs

 $4  $1,029  $—  $259  $3,136  $141  $—  $—  $4,569 
Off-Balance-Sheet Credit Exposure [Table Text Block]

Three months ended March 31, 2025

 

Total Allowance for Credit Losses on Off-Balance Sheet Credit Exposure

 

(Dollars in thousands)

   

Balance, December 31, 2024

 $287 

Balance, March 31, 2025

 $287 

Three months ended March 31, 2024

 

Total Allowance for Credit Losses on Off-Balance Sheet Credit Exposure

 

(Dollars in thousands)

   

Balance, December 31, 2023

 $1,009 

Recovery of off-balance sheet credit losses, net

  (359)

Balance, March 31, 2024

 $650 
v3.25.1
Note 4 - Derivatives and Risk Management Activities (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Derivative Instruments [Table Text Block]

March 31, 2025

                    

Customer-related interest rate contracts

                    

(Dollars in thousands)

 

Notional Amount

  

Number of Positions

  

Assets

  

Liabilities

  

Collateral Pledges

 

Matched interest rate swap with borrower

 $215,165   39  $—  $17,233  $— 

Matched interest rate swap with counterparty

 $215,165   39  $17,233  $—  $— 

December 31, 2024

                    

Customer-related interest rate contracts

                    

(Dollars in thousands)

 

Notional Amount

  

Number of Positions

  

Assets

  

Liabilities

  

Collateral Pledges

 

Matched interest rate swap with borrower

 $230,417   43  $—  $21,715  $— 

Matched interest rate swap with counterparty

 $230,417   43  $21,715  $—  $— 
v3.25.1
Note 5 - Fair Value Presentation (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
  

March 31, 2025

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Investment securities available-for-sale:

                

Collateralized Mortgage Backed

 $—  $17,488  $—  $17,488 

Subordinated Debt

  —   7,794   250   8,044 

Preferred Stock

  —   —   456   456 

Municipal Securities:

                

Taxable

  —   8,453   —   8,453 

Tax-exempt

  —   19,168   —   19,168 

U.S. Government Agencies

  —   2,326   —   2,326 

Derivative asset – interest rate swap on loans

  —   17,233   —   17,233 

Total

 $—  $72,462  $706  $73,168 

Liabilities:

                

Derivative liability – interest rate swap on loans

 $—  $17,233  $—  $17,233 

Total

 $—  $17,233  $—  $17,233 
  

December 31, 2024

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Investment securities available-for-sale:

                

Collateralized Mortgage Backed

 $—  $17,193  $—  $17,193 

Subordinated Debt

  —   7,657   250   7,907 

Preferred Stock

  —   —   453   453 

Municipal Securities:

                

Taxable

  —   8,201   —   8,201 

Tax-exempt

  —   19,621   —   19,621 

U.S. Government Agencies

  —   2,372   —   2,372 

Derivative asset – interest rate swap on loans

  —   21,715   —   21,715 

Total

 $—  $76,759  $703  $77,462 

Liabilities:

                

Derivative liability – interest rate swap on loans

 $—  $21,715  $—  $21,715 

Total

 $—  $21,715  $—  $21,715 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Reconciliation of Level 3 Inputs

 

(Dollars in thousands)

 

December 31, 2024 fair value

 $703 

Change in fair value (1)

  3 

March 31, 2025 fair value

 $706 
Fair Value Measurements, Nonrecurring [Table Text Block]
  March 31, 2025 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Collateral dependent loans with a specific reserve

                

Commercial & Industrial

 $—  $—  $134  $134 

Total

 $—  $—  $134  $134 
                 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
  

Fair Value Measurements at March 31, 2025

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Collateral dependent loans with a specific reserve

    

 

 

 

    

Commercial & Industrial

 $134 

Appraisals/Discounted Cash Flows

 

Discount to reflect current market conditions or cash flows and estimated selling costs.

  3% - 10% 

Total

 $134        
Fair Value, by Balance Sheet Grouping [Table Text Block]

March 31, 2025

 

Carrying

  

Estimated

  

Quoted Prices in Active Markets for Identical Assets

  

Significant Other Observable Inputs

  

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 

Assets:

                    

Cash and cash equivalents

 $202,640  $202,640  $202,640  $—  $— 

Securities:

                    

Available-for-sale

  55,935   55,935   —   55,229   706 

Held-to-maturity

  15,657   15,354   —   15,354   — 

Restricted securities

  33,611   33,611   —   33,611   — 

Loans, net

  1,811,789   1,808,292   —   —   1,808,292 

Derivative asset – interest rate swap on loans

  17,233   17,233   —   17,233   — 

Bank owned life insurance

  39,809   39,809   —   39,809   — 

Accrued interest receivable

  9,107   9,107   —   9,107   — 

Liabilities:

                    

Deposits

 $1,908,325  $1,908,604  $—  $1,087,326  $821,278 

Subordinated debt, net

  72,138   67,658   —   67,658   — 

Derivative liability – interest rate swaps on loans

  17,233   17,233   —   17,233   — 

Accrued interest payable

  3,065   3,065   —   3,065   — 

December 31, 2024

 

Carrying

  

Estimated

  

Quoted Prices in Active Markets for Identical Assets

  

Significant Other Observable Inputs

  

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 

Assets:

                    

Cash and cash equivalents

 $207,708  $207,708  $207,708  $—  $— 

Securities:

                    

Available-for-sale

  55,747   55,747   —   55,044   703 

Held-to-maturity

  16,078   15,865   —   15,865   — 

Restricted equity securities

  30,623   30,623   —   30,623   — 

Loans, net

  1,810,556   1,806,846   —   —   1,806,846 

Derivative asset – interest rate swap on loans

  21,715   21,715   —   21,715   — 

Bank owned life insurance

  39,507   39,507   —   39,507   — 

Accrued interest receivable

  9,059   9,059   —   9,059   — 

Liabilities:

                    

Deposits

 $1,907,794  $1,910,018  $—  $1,088,506  $821,512 

Subordinated debt, net

  73,039   67,239   —   67,239   — 

Derivative liability – interest rate swaps on loans

  21,715   21,715   —   21,715   — 

Accrued interest payable

  3,362   3,362   —   3,362   — 
v3.25.1
Note 6 - Earnings Per Common Share (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
  

For the Three Months Ended March 31,

 

(Dollars in thousands, except for share and per share data)

 

2025

  

2024

 

Net income

 $2,453  $3,305 

Preferred stock dividends

  (539)  (539)

Net income available to common shareholders

 $1,914  $2,766 

Weighted average number of common shares issued, basic and diluted

  7,636,191   7,611,990 

Earnings per common share:

        

Basic and diluted earnings per common share

 $0.25  $0.36 
v3.25.1
Note 7 - Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(Dollars in thousands)

  March 31, 2025   December 31, 2024 

Unrealized loss on investment securities available-for-sale

 $(9,574) $(10,014)

Tax benefit

  2,202   2,303 

Total accumulated other comprehensive loss

 $(7,372) $(7,711)
v3.25.1
Note 8 - Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Lease, Cost [Table Text Block]
  

As of March 31,

  

As of December 31,

 

(Dollars in thousands)

 

2025

  

2024

 

Lease liabilities

 $6,349  $6,474 

Right-of-use assets

 $5,632  $5,761 

Weighted-average remaining lease term – operating leases (in months).

  143.2   145.4 

Weighted-average discount rate – operating leases

  2.81%  2.81%
  

For the three months ended March 31,

 

(Dollars in thousands)

 

2025

  

2024

 

Lease Cost

        

Operating lease cost

 $174  $171 

Total lease costs

 $174  $171 

Cash paid for amounts included in measurement of lease liabilities

 $170  $163 
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

(Dollars in thousands)

    

2025

 $522 

2026

  709 

2027

  588 

2028

  594 

2029

  605 

Thereafter

  4,363 

Total undiscounted cash flows

  7,381 

Discount

  (1,032)

Lease liabilities

 $6,349 
v3.25.1
Note 9 - Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
  

Three months ended March 31, 2025

 

(Dollars in thousands)

 

Core Banking

  

Financial Technology

  

Consolidated

 

Interest income - loans, including fees - (1)

 $30,776  $335  $31,111 

Interest income - investments, other

  1,852   —   1,852 

Service charge income

  308   222   530 

Other fee income

  409   —   409 

Total

 $33,345  $557  $33,902 

Less:

            

Total consolidated interest expense

  16,406   47   16,453 

Segment gross profit

 $16,939  $510  $17,449 

Less:

            

Salaries and employee benefits

  6,894   1,491   8,385 

Furniture and equipment expenses

  718   298   1,016 

Advertising and marketing

  417   64   481 

Outside services

  399   774   1,173 

Other operating expenses

  3,150   109   3,259 

Total non-interest expense

  11,578   2,736   14,314 

Segment profit (loss)

 $5,361  $(2,226) $3,135 
             

Segment assets

  2,222,779   66   2,222,845 
  

Three months ended March 31, 2024

 

(Dollars in thousands)

 

Core Banking

  

Financial Technology

  

Consolidated

 

Interest income - loans, including fees - (1)

 $30,092  $490  $30,582 

Interest income - investments, other

  1,887   —   1,887 

Service charge income

  315   154   469 

Other fee income

  327   —   327 

Total

 $32,621  $644  $33,265 

Less:

            

Total consolidated interest expense

  16,838   6   16,844 

Segment gross profit

 $15,783  $638  $16,421 

Less:

            

Provision for credit losses

  (195)  —   (195)

Salaries and employee benefits

  7,117   371   7,488 

Furniture and equipment expenses

  779   156   935 

Advertising and marketing

  427   27   454 

Outside services

  371   403   774 

Other operating expenses

  2,723   107   2,830 

Total non-interest expense

  11,222   1,064   12,286 

Segment profit (loss)

 $4,561  $(426) $4,135 
             

Segment assets

  2,054,247   15,768   2,070,015 
v3.25.1
Note 1 - Organization, Basis of Presentation and Impact of Recently Issued Accounting Pronouncements (Details Textual)
 3 Months Ended
Mar. 31, 2025
$ / shares
shares
Dec. 31, 2024
$ / shares
shares
Oct. 12, 2021
$ / shares
shares
Common Stock, Shares Authorized (in shares) 15,000,000 15,000,000 15,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares $ 4 $ 4 $ 4
Preferred Stock, Shares Authorized (in shares) 2,000,000 2,000,000 2,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares $ 1 $ 1 $ 1
Preferred Stock, Shares Outstanding, Ending Balance (in shares) 28,750 28,750  
Depositary Shares, Fractional Interest in Preferred Stock, Denominator 40    
Series A Fixed-rate Non-cumulative Perpetual Preferred Stock [Member]      
Preferred Stock, Dividend Rate, Percentage 7.50%    
v3.25.1
Note 2 - Investment Securities (Details Textual)
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss $ 0   $ 0
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 15,657,000   16,078,000
Debt Securities, Held-to-Maturity, Nonaccrual 0   0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months 3,233,000   2,873,000
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer 49,437,000   49,704,000
Amortization Method Qualified New Market Tax Credit Investments Amortization 501,000 $ 263,000  
Non-Marketable Equity Securities 6,700,000   6,700,000
Debt Securities, Available-for-Sale, Allowance for Credit Loss 0   0
Federal Reserve Bank [Member]      
Equity Securities, FV-NI, Restricted 5,300,000   5,300,000
Federal Home Loan Bank of Atlanta [Member]      
Equity Securities, FV-NI, Restricted 1,500,000   1,400,000
Community Bankers Bank Stock [Member]      
Equity Securities, FV-NI, Restricted $ 126,800   126,800
Municipal Bonds [Member]      
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions 6    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months $ 3,000,000    
Subordinated Debt [Member]      
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss $ 2,500,000   2,500,000
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions 1    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months $ 215,000   215,000
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions 19    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer $ 7,329,000   7,191,000
Collateralized Mortgage-Backed Securities [Member]      
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months $ 0   0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions 22    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer $ 16,896,000   17,105,000
Nontaxable Municipal Bonds [Member]      
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 13,157,000   13,578,000
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months $ 3,018,000   2,658,000
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions 28    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer $ 16,150,000   16,593,000
Taxable Municipal Bonds [Member]      
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months $ 0   0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions 11    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer $ 8,453,000   8,201,000
US Government Agencies Debt Securities [Member]      
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months $ 0   0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions 6    
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer $ 609,000   614,000
New Market Tax Credits [Member]      
Amortization Method Qualified New Market Tax Credit Investments 12,400,000   9,400,000
Low Income Housing Tax Credits [Member]      
Investment, Proportional Amortization Method, Elected, Amount 7,400,000   7,600,000
Asset Pledged as Collateral [Member]      
Debt Securities, Available-for-Sale, Restricted 396,000   394,000
Financial Asset, Equal to or Greater than 30 Days Past Due [Member]      
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss $ 0   $ 0
v3.25.1
Note 2 - Investment Securities - Schedule of Available-for-sale Investment Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Amortized cost, available-for-sale $ 65,509 $ 65,761
Gross unrealized gains, available-for-sale 11 4
Gross unrealized losses, available-for-sale (9,585) (10,018)
Fair value, available-for-sale 55,935 55,747
Collateralized Mortgage-Backed Securities [Member]    
Amortized cost, available-for-sale 21,134 21,298
Gross unrealized gains, available-for-sale 6 0
Gross unrealized losses, available-for-sale (3,652) (4,105)
Fair value, available-for-sale 17,488 17,193
Subordinated Debt [Member]    
Amortized cost, available-for-sale 8,970 8,971
Gross unrealized gains, available-for-sale 0 0
Gross unrealized losses, available-for-sale (926) (1,064)
Fair value, available-for-sale 8,044 7,907
Preferred Stocks [Member]    
Amortized cost, available-for-sale 456 453
Gross unrealized gains, available-for-sale 0 0
Gross unrealized losses, available-for-sale 0 0
Fair value, available-for-sale 456 453
Taxable Municipal Bonds [Member]    
Amortized cost, available-for-sale 10,617 10,623
Gross unrealized gains, available-for-sale 0 0
Gross unrealized losses, available-for-sale (2,164) (2,422)
Fair value, available-for-sale 8,453 8,201
Nontaxable Municipal Bonds [Member]    
Amortized cost, available-for-sale 21,988 22,024
Gross unrealized gains, available-for-sale 0 0
Gross unrealized losses, available-for-sale (2,820) (2,403)
Fair value, available-for-sale 19,168 19,621
US Government Agencies Debt Securities [Member]    
Amortized cost, available-for-sale 2,344 2,392
Gross unrealized gains, available-for-sale 5 4
Gross unrealized losses, available-for-sale (23) (24)
Fair value, available-for-sale $ 2,326 $ 2,372
v3.25.1
Note 2 - Investment Securities - Schedule of Held-to-maturity Investment Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss $ 15,657 $ 16,078
Gross unrealized gains, held-to-maturity 2 1
Gross unrealized losses, held-to-maturity (305) (214)
Fair value, held-to-maturity 15,354 15,865
Nontaxable Municipal Bonds [Member]    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 13,157 13,578
Gross unrealized gains, held-to-maturity 2 1
Gross unrealized losses, held-to-maturity (292) (200)
Fair value, held-to-maturity 12,867 13,379
Subordinated Debt [Member]    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 2,500 2,500
Gross unrealized gains, held-to-maturity 0 0
Gross unrealized losses, held-to-maturity (13) (14)
Fair value, held-to-maturity $ 2,487 $ 2,486
v3.25.1
Note 2 - Investment Securities - Schedule of Held-to-maturity Investment Securities with Credit Rating (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Held-to-maturity, Amortized cost $ 15,657 $ 16,078
Standard & Poor's, AAA Rating [Member]    
Held-to-maturity, Amortized cost 13,157 13,578
Not Rated - Non Agency [Member]    
Held-to-maturity, Amortized cost 2,500 2,500
Nontaxable Municipal Bonds [Member]    
Held-to-maturity, Amortized cost 13,157 13,578
Nontaxable Municipal Bonds [Member] | Standard & Poor's, AAA Rating [Member]    
Held-to-maturity, Amortized cost 13,157 13,578
Nontaxable Municipal Bonds [Member] | Not Rated - Non Agency [Member]    
Held-to-maturity, Amortized cost 0 0
Subordinated Debt [Member]    
Held-to-maturity, Amortized cost 2,500 2,500
Subordinated Debt [Member] | Standard & Poor's, AAA Rating [Member]    
Held-to-maturity, Amortized cost 0 0
Subordinated Debt [Member] | Not Rated - Non Agency [Member]    
Held-to-maturity, Amortized cost $ 2,500 $ 2,500
v3.25.1
Note 2 - Investment Securities - Schedule of Maturities of Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Due in one year or less, available-for-sale, amortized cost $ 1,000 $ 1,000
Due in one year or less, available-for-sale, fair value 995 993
Due in one year or less, held-to-maturity, amortized cost 0 370
Due in one year or less, held-to-maturity, fair value 0 370
Due from one to five years, available-for-sale, amortized cost 0 0
Due from one to five years, available-for-sale, fair value 0 0
Due from one to five years, held-to-maturity, amortized cost 4,016 4,017
Due from one to five years, held-to-maturity, fair value 3,984 3,973
Due from after five to ten years, available-for-sale, amortized cost 14,458 14,430
Due from after five to ten years, available-for-sale, fair value 13,188 12,997
Due from after five to ten years, held-to-maturity, amortized cost 5,939 5,945
Due from after five to ten years, held-to-maturity, fair value 5,869 5,886
Due after ten years, available-for-sale, amortized cost 50,051 50,331
Due after ten years, available-for-sale, fair value 41,752 41,757
Due after ten years, held-to-maturity, amortized cost 5,702 5,746
Due after ten years, held-to-maturity, fair value 5,501 5,636
Total, available-for-sale, amortized cost 65,509 65,761
Total, available-for-sale, fair value 55,935 55,747
Total, held-to-maturity, amortized cost 15,657 16,078
Total, held-to-maturity, fair value $ 15,354 $ 15,865
v3.25.1
Note 2 - Investment Securities - Summary of Unrealized Loss Positions (Details) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Available-for-sale, less than 12 months, fair value $ 3,233,000 $ 2,873,000
Available-for-sale, less than 12 months, unrealized loss (80,000) (71,000)
Available-for-sale, more than 12 months, fair value 49,437,000 49,704,000
Available-for-sale, more than 12 months, unrealized loss (9,505,000) (9,947,000)
Available-for-sale, fair value 52,670,000 52,577,000
Available-for-sale, unrealized loss (9,585,000) (10,018,000)
Collateralized Mortgage-Backed Securities [Member]    
Available-for-sale, less than 12 months, fair value 0 0
Available-for-sale, less than 12 months, unrealized loss 0 0
Available-for-sale, more than 12 months, fair value 16,896,000 17,105,000
Available-for-sale, more than 12 months, unrealized loss (3,652,000) (4,105,000)
Available-for-sale, fair value 16,896,000 17,105,000
Available-for-sale, unrealized loss (3,652,000) (4,105,000)
Subordinated Debt [Member]    
Available-for-sale, less than 12 months, fair value 215,000 215,000
Available-for-sale, less than 12 months, unrealized loss (34,000) (35,000)
Available-for-sale, more than 12 months, fair value 7,329,000 7,191,000
Available-for-sale, more than 12 months, unrealized loss (892,000) (1,029,000)
Available-for-sale, fair value 7,544,000 7,406,000
Available-for-sale, unrealized loss (926,000) (1,064,000)
Taxable Municipal Bonds [Member]    
Available-for-sale, less than 12 months, fair value 0 0
Available-for-sale, less than 12 months, unrealized loss 0 0
Available-for-sale, more than 12 months, fair value 8,453,000 8,201,000
Available-for-sale, more than 12 months, unrealized loss (2,164,000) (2,422,000)
Available-for-sale, fair value 8,453,000 8,201,000
Available-for-sale, unrealized loss (2,164,000) (2,422,000)
Nontaxable Municipal Bonds [Member]    
Available-for-sale, less than 12 months, fair value 3,018,000 2,658,000
Available-for-sale, less than 12 months, unrealized loss (46,000) (36,000)
Available-for-sale, more than 12 months, fair value 16,150,000 16,593,000
Available-for-sale, more than 12 months, unrealized loss (2,774,000) (2,367,000)
Available-for-sale, fair value 19,168,000 19,251,000
Available-for-sale, unrealized loss (2,820,000) (2,403,000)
US Government Agencies Debt Securities [Member]    
Available-for-sale, less than 12 months, fair value 0 0
Available-for-sale, less than 12 months, unrealized loss 0 0
Available-for-sale, more than 12 months, fair value 609,000 614,000
Available-for-sale, more than 12 months, unrealized loss (23,000) (24,000)
Available-for-sale, fair value 609,000 614,000
Available-for-sale, unrealized loss $ (23,000) $ (24,000)
v3.25.1
Note 3 - Loans Receivable (Details Textual)
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Deposit Liabilities Reclassified as Loans Receivable $ 287,000   $ 343,000  
Loans in Process of Foreclosure, Amount 2      
Mortgage Loans in Process of Foreclosure, Amount $ 592,600      
Financing Receivable, Modified, Subsequent Default 0 $ 0    
Off-Balance-Sheet, Credit Loss, Liability 287,000 650,000 $ 287,000 $ 1,009,000
Other Liabilities [Member]        
Off-Balance-Sheet, Credit Loss, Liability $ 287,000 650,000    
Financial Asset, Over 30 Days Past Due [Member]        
Financing Receivable, Modified, Number of Loans 2      
Financing Receivable, Modified in Period, Amount $ 14,200,000      
Financial Asset, Past Due [Member]        
Financing Receivable, Modified in Period, Amount   $ 0    
v3.25.1
Note 3 - Loans Receivable - Schedule of Loans Receivable (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Total Gross Loans $ 1,836,001 $ 1,834,998    
Less: Unearned Fees, net (4,752) (4,992)    
Less: Allowance for Credit Losses - Loans (19,460) (19,450) $ (16,531) $ (16,506)
Net Loans 1,811,789 1,810,556    
Residential Portfolio Segment [Member]        
Less: Allowance for Credit Losses - Loans (2,492) (2,478) (2,468) (2,594)
Residential Portfolio Segment [Member] | Single Family [Member]        
Total Gross Loans 204,692 204,357    
Residential Portfolio Segment [Member] | Multifamily [Member]        
Total Gross Loans 246,407 234,884    
Residential Portfolio Segment [Member] | Farmland [Member]        
Total Gross Loans 225 240    
Commercial Real Estate Portfolio Segment [Member]        
Less: Allowance for Credit Losses - Loans (11,395) (11,321) (9,748) (8,888)
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member]        
Total Gross Loans 380,894 372,412    
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]        
Total Gross Loans 552,455 525,792    
Construction and Land Development [Member]        
Total Gross Loans 344,816 393,385    
Less: Allowance for Credit Losses - Loans (4,102) (4,648) (3,327) (3,575)
Commercial Portfolio Segment [Member]        
Less: Allowance for Credit Losses - Loans (1,463) (993) (969) (1,435)
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]        
Total Gross Loans 105,180 102,354    
Consumer Portfolio Segment [Member]        
Less: Allowance for Credit Losses - Loans (8) (10) $ (19) $ (14)
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member]        
Total Gross Loans 287 343    
Consumer Portfolio Segment [Member] | Secured [Member]        
Total Gross Loans $ 1,045 $ 1,231    
v3.25.1
Note 3 - Loans Receivable - Segments of the Loan Portfolio by Aging Categories (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Total Gross Loans $ 1,836,001 $ 1,834,998
Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 34,586 0
Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 5,469 62
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Financial Asset, Past Due [Member]    
Total Gross Loans 21,664 21,650
Financial Asset, Not Past Due [Member]    
Total Gross Loans 1,774,282 1,813,286
Residential Portfolio Segment [Member] | Single Family [Member]    
Total Gross Loans 204,692 204,357
Residential Portfolio Segment [Member] | Single Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 4,264 0
Residential Portfolio Segment [Member] | Single Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 1,676 62
Residential Portfolio Segment [Member] | Single Family [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Single Family [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 4,897 1,162
Residential Portfolio Segment [Member] | Single Family [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 193,855 203,133
Residential Portfolio Segment [Member] | Multifamily [Member]    
Total Gross Loans 246,407 234,884
Residential Portfolio Segment [Member] | Multifamily [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Multifamily [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Multifamily [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Multifamily [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 606 0
Residential Portfolio Segment [Member] | Multifamily [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 245,801 234,884
Residential Portfolio Segment [Member] | Farmland [Member]    
Total Gross Loans 225 240
Residential Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 0 0
Residential Portfolio Segment [Member] | Farmland [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 225 240
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member]    
Total Gross Loans 380,894 372,412
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 4,500 0
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 0 0
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 376,394 372,412
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Total Gross Loans 552,455 525,792
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 11,160 11,160
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 541,295 514,632
Construction and Land Development [Member]    
Total Gross Loans 344,816 393,385
Construction and Land Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 25,822 0
Construction and Land Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 3,793 0
Construction and Land Development [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Construction and Land Development [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 35 4,235
Construction and Land Development [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 315,166 389,150
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]    
Total Gross Loans 105,180 102,354
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 4,966 5,093
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 100,214 97,261
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member]    
Total Gross Loans 287 343
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Unsecured, Non Real Estate [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans 287 343
Consumer Portfolio Segment [Member] | Secured [Member]    
Total Gross Loans 1,045 1,231
Consumer Portfolio Segment [Member] | Secured [Member] | Financial Asset, 30 to 59 Days Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Secured [Member] | Financial Asset, 60 to 89 Days Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Secured [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Secured [Member] | Financial Asset, Past Due [Member]    
Total Gross Loans 0 0
Consumer Portfolio Segment [Member] | Secured [Member] | Financial Asset, Not Past Due [Member]    
Total Gross Loans $ 1,045 $ 1,231
v3.25.1
Note 3 - Loans Receivable - Summary of Activity in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Beginning Balance $ 19,450 $ 16,506 $ 16,506
Charge-offs 0 (141) (4,569)
Recoveries 10 2  
Provision For Credit Losses - Loans 0 164  
Ending Balance 19,460 16,531 19,450
Residential Portfolio Segment [Member]      
Beginning Balance 2,478 2,594 2,594
Charge-offs 0 (132)  
Recoveries 2 0  
Provision For Credit Losses - Loans 12 6  
Ending Balance 2,492 2,468 2,478
Commercial Real Estate Portfolio Segment [Member]      
Beginning Balance 11,321 8,888 8,888
Charge-offs 0 0  
Recoveries 0 0  
Provision For Credit Losses - Loans 74 860  
Ending Balance 11,395 9,748 11,321
Construction and Land Development [Member]      
Beginning Balance 4,648 3,575 3,575
Charge-offs 0 0  
Recoveries 0 0  
Provision For Credit Losses - Loans (546) (248)  
Ending Balance 4,102 3,327 4,648
Commercial Portfolio Segment [Member]      
Beginning Balance 993 1,435 1,435
Charge-offs 0 0  
Recoveries 7 0  
Provision For Credit Losses - Loans 463 (466)  
Ending Balance 1,463 969 993
Consumer Portfolio Segment [Member]      
Beginning Balance 10 14 14
Charge-offs 0 (9)  
Recoveries 1 2  
Provision For Credit Losses - Loans (3) 12  
Ending Balance $ 8 $ 19 $ 10
v3.25.1
Note 3 - Loans Receivable - Summary of Nonaccrual Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Nonaccrual, no allowance $ 21,295 $ 21,650
Nonaccrual, with allowance 369 0
Nonaccrual 21,664 21,650
Residential Portfolio Segment [Member] | Single Family [Member]    
Nonaccrual, no allowance 4,897 1,162
Nonaccrual, with allowance 0 0
Nonaccrual 4,897 1,162
Residential Portfolio Segment [Member] | Multifamily [Member]    
Nonaccrual, no allowance 606  
Nonaccrual, with allowance 0  
Nonaccrual 606  
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Nonaccrual, no allowance 11,160 11,160
Nonaccrual, with allowance 0 0
Nonaccrual 11,160 11,160
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member]    
Nonaccrual, no allowance 35 4,235
Nonaccrual, with allowance 0 0
Nonaccrual 35 4,235
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]    
Nonaccrual, no allowance 4,597 5,093
Nonaccrual, with allowance 369 0
Nonaccrual $ 4,966 $ 5,093
v3.25.1
Note 3 - Loans Receivable - Accrued Interest Receivable Written Off of Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Accrued Interest, Writeoff $ 104 $ 399
Residential Portfolio Segment [Member] | Single Family [Member]    
Accrued Interest, Writeoff 90 8
Residential Portfolio Segment [Member] | Multifamily [Member]    
Accrued Interest, Writeoff $ 14  
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member]    
Accrued Interest, Writeoff   297
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]    
Accrued Interest, Writeoff   $ 94
v3.25.1
Note 3 - Loans Receivable - Schedule of Collateral Dependent Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Collateral dependent loans $ 1,836,001 $ 1,834,998
Residential Portfolio Segment [Member] | Single Family [Member]    
Collateral dependent loans 204,692 204,357
Residential Portfolio Segment [Member] | Multifamily [Member]    
Collateral dependent loans 246,407 234,884
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Collateral dependent loans 552,455 525,792
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]    
Collateral dependent loans 105,180 102,354
Collateral Pledged [Member]    
Collateral dependent loans 58,942 57,423
Collateral Pledged [Member] | Residential Portfolio Segment [Member] | Single Family [Member]    
Collateral dependent loans 9,169 5,484
Collateral Pledged [Member] | Residential Portfolio Segment [Member] | Multifamily [Member]    
Collateral dependent loans 3,773 3,197
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]    
Collateral dependent loans 11,477 11,488
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member]    
Collateral dependent loans 25,811 28,374
Collateral Pledged [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]    
Collateral dependent loans $ 8,712 $ 8,880
v3.25.1
Note 3 - Loans Receivable - Summary of Modified Financing Receivables (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Amortized Cost Basis $ 4,272 $ 13,164
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Extended Maturity on Interest Only Payments [Member]    
Amortized Cost Basis $ 4,272 $ 743
% of Total Loan Type 4.10% 1.00%
Term increase (Month) 8 months 3 months
Residential Portfolio Segment [Member] | Single Family [Member] | Extended Maturity [Member]    
Amortized Cost Basis   $ 364
% of Total Loan Type   0.20%
Term increase (Month)   3 months
Commercial Real Estate Portfolio Segment [Member] | Construction and Land Development [Member] | Extended Maturity and Interest Rate Reduction [Member]    
Amortized Cost Basis   $ 12,057
% of Total Loan Type   2.90%
Term increase (Month)   6 months
v3.25.1
Note 3 - Loans Receivable - Summary of Credit Quality Indicators (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Financing Receivable, Year One $ 30,956   $ 149,558
Financing Receivable, Year Two 142,715   178,872
Financing Receivable, Year Three 183,976   356,297
Financing Receivable, Year Four 390,688   187,203
Financing Receivable, Year Five 179,608   176,340
Financing Receivable Prior 476,040   317,405
Financing Receivable, Revolving 432,018   469,323
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 1,836,001   1,834,998
Current period gross write-offs, current 0   4
Current period gross write-offs, year one 0   1,029
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   259
Current period gross write-offs, year four 0   3,136
Current period gross write-offs, prior 0   141
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total (0) $ 141 4,569
Pass [Member]      
Financing Receivable, Year One 30,956   148,539
Financing Receivable, Year Two 141,703   136,962
Financing Receivable, Year Three 142,066   353,954
Financing Receivable, Year Four 387,367   163,488
Financing Receivable, Year Five 153,737   154,968
Financing Receivable Prior 433,729   296,291
Financing Receivable, Revolving 404,665   438,072
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 1,694,223   1,692,274
Criticized [Member]      
Financing Receivable, Year One 0   500
Financing Receivable, Year Two 500   30,750
Financing Receivable, Year Three 30,750   393
Financing Receivable, Year Four 0   13,299
Financing Receivable, Year Five 12,766   19,706
Financing Receivable Prior 38,510   19,514
Financing Receivable, Revolving 50   1,138
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 82,576   85,300
Classified [Member]      
Financing Receivable, Year One 0   519
Financing Receivable, Year Two 512   11,160
Financing Receivable, Year Three 11,160   1,950
Financing Receivable, Year Four 3,321   10,416
Financing Receivable, Year Five 13,105   1,666
Financing Receivable Prior 3,801   1,600
Financing Receivable, Revolving 27,303   30,113
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 59,202   57,424
Residential Portfolio Segment [Member]      
Current period gross write-offs, total (0) 132  
Residential Portfolio Segment [Member] | Single Family [Member]      
Financing Receivable, Year One 1,964   19,139
Financing Receivable, Year Two 16,655   44,460
Financing Receivable, Year Three 43,061   18,196
Financing Receivable, Year Four 18,105   31,158
Financing Receivable, Year Five 36,188   34,256
Financing Receivable Prior 63,870   32,065
Financing Receivable, Revolving 24,849   25,083
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 204,692   204,357
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   132
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   132
Residential Portfolio Segment [Member] | Single Family [Member] | Pass [Member]      
Financing Receivable, Year One 1,964   18,439
Financing Receivable, Year Two 15,955   44,460
Financing Receivable, Year Three 43,061   17,803
Financing Receivable, Year Four 16,734   26,055
Financing Receivable, Year Five 29,971   29,482
Financing Receivable Prior 59,102   32,065
Financing Receivable, Revolving 24,778   24,643
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 191,565   192,947
Residential Portfolio Segment [Member] | Single Family [Member] | Criticized [Member]      
Financing Receivable, Year One 0   500
Financing Receivable, Year Two 500   0
Financing Receivable, Year Three 0   393
Financing Receivable, Year Four 0   1,596
Financing Receivable, Year Five 0   3,436
Financing Receivable Prior 3,436   0
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 3,936   5,925
Residential Portfolio Segment [Member] | Single Family [Member] | Classified [Member]      
Financing Receivable, Year One 0   200
Financing Receivable, Year Two 200   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 1,371   3,507
Financing Receivable, Year Five 6,217   1,338
Financing Receivable Prior 1,332   0
Financing Receivable, Revolving 71   440
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 9,191   5,485
Residential Portfolio Segment [Member] | Multifamily [Member]      
Financing Receivable, Year One 0   12,163
Financing Receivable, Year Two 13,128   31,564
Financing Receivable, Year Three 39,278   69,629
Financing Receivable, Year Four 69,437   39,593
Financing Receivable, Year Five 41,992   38,832
Financing Receivable Prior 81,968   42,713
Financing Receivable, Revolving 604   390
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 246,407   234,884
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   0
Residential Portfolio Segment [Member] | Multifamily [Member] | Pass [Member]      
Financing Receivable, Year One 0   12,163
Financing Receivable, Year Two 13,128   5,314
Financing Receivable, Year Three 13,028   69,629
Financing Receivable, Year Four 69,437   24,693
Financing Receivable, Year Five 27,106   38,226
Financing Receivable Prior 61,848   23,199
Financing Receivable, Revolving 604   390
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 185,151   173,614
Residential Portfolio Segment [Member] | Multifamily [Member] | Criticized [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   26,250
Financing Receivable, Year Three 26,250   0
Financing Receivable, Year Four 0   11,703
Financing Receivable, Year Five 11,703   606
Financing Receivable Prior 19,514   19,514
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 57,467   58,073
Residential Portfolio Segment [Member] | Multifamily [Member] | Classified [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   3,197
Financing Receivable, Year Five 3,183   0
Financing Receivable Prior 606   0
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 3,789   3,197
Residential Portfolio Segment [Member] | Farmland [Member]      
Financing Receivable, Year One 0   106
Financing Receivable, Year Two 95   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 0   0
Financing Receivable Prior 130   134
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 225   240
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   0
Residential Portfolio Segment [Member] | Farmland [Member] | Pass [Member]      
Financing Receivable, Year One 0   106
Financing Receivable, Year Two 95   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 0   0
Financing Receivable Prior 130   134
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 225   240
Commercial Real Estate Portfolio Segment [Member]      
Current period gross write-offs, total (0) (0)  
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member]      
Financing Receivable, Year One 19,244   35,483
Financing Receivable, Year Two 35,372   71,543
Financing Receivable, Year Three 71,016   81,427
Financing Receivable, Year Four 80,812   41,167
Financing Receivable, Year Five 38,543   38,446
Financing Receivable Prior 111,270   79,425
Financing Receivable, Revolving 24,637   24,921
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 380,894   372,412
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   0
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Pass [Member]      
Financing Receivable, Year One 19,244   35,483
Financing Receivable, Year Two 35,372   67,043
Financing Receivable, Year Three 66,516   81,427
Financing Receivable, Year Four 80,812   41,167
Financing Receivable, Year Five 37,480   38,446
Financing Receivable Prior 111,270   79,425
Financing Receivable, Revolving 24,637   24,921
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 375,331   367,912
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Criticized [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   4,500
Financing Receivable, Year Three 4,500   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 1,063   0
Financing Receivable Prior 0   0
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 5,563   4,500
Commercial Real Estate Portfolio Segment [Member] | Owner-occupied [Member] | Classified [Member]      
Financing Receivable, Year One     0
Financing Receivable, Year Two     0
Financing Receivable, Year Three     0
Financing Receivable, Year Four     0
Financing Receivable, Year Five     0
Financing Receivable Prior     0
Financing Receivable, Revolving     0
Financing Receivable, revolving converted to term     0
Collateral dependent loans     0
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member]      
Financing Receivable, Year One 4,122   46,243
Financing Receivable, Year Two 42,290   18,709
Financing Receivable, Year Three 18,630   154,994
Financing Receivable, Year Four 191,776   58,931
Financing Receivable, Year Five 55,513   62,049
Financing Receivable Prior 207,265   152,963
Financing Receivable, Revolving 32,859   31,903
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 552,455   525,792
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   740
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   740
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Pass [Member]      
Financing Receivable, Year One 4,122   46,243
Financing Receivable, Year Two 42,290   7,549
Financing Receivable, Year Three 7,470   154,994
Financing Receivable, Year Four 191,776   58,931
Financing Receivable, Year Five 55,513   46,057
Financing Receivable Prior 191,387   152,963
Financing Receivable, Revolving 32,859   31,903
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 525,417   498,640
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Criticized [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 0   15,664
Financing Receivable Prior 15,560   0
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 15,560   15,664
Commercial Real Estate Portfolio Segment [Member] | Non-owner Occupied [Member] | Classified [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   11,160
Financing Receivable, Year Three 11,160   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 0   328
Financing Receivable Prior 318   0
Financing Receivable, Revolving 0   0
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 11,478   11,488
Construction [Member] | Construction and Land Development [Member]      
Financing Receivable, Year One 612   3,149
Financing Receivable, Year Two 652   5,358
Financing Receivable, Year Three 5,358   21,630
Financing Receivable, Year Four 20,367   8,849
Financing Receivable, Year Five 476   718
Financing Receivable Prior 829   234
Financing Receivable, Revolving 316,522   353,447
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 344,816   393,385
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   289
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   259
Current period gross write-offs, year four 0   3,136
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   3,684
Construction [Member] | Construction and Land Development [Member] | Pass [Member]      
Financing Receivable, Year One 612   3,149
Financing Receivable, Year Two 652   5,358
Financing Receivable, Year Three 5,358   19,680
Financing Receivable, Year Four 18,417   8,849
Financing Receivable, Year Five 476   718
Financing Receivable Prior 829   234
Financing Receivable, Revolving 292,437   325,885
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 318,781   363,873
Construction [Member] | Construction and Land Development [Member] | Criticized [Member]      
Financing Receivable, Year One     0
Financing Receivable, Year Two     0
Financing Receivable, Year Three     0
Financing Receivable, Year Four     0
Financing Receivable, Year Five     0
Financing Receivable Prior     0
Financing Receivable, Revolving     1,138
Financing Receivable, revolving converted to term     0
Collateral dependent loans     1,138
Construction [Member] | Construction and Land Development [Member] | Classified [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   0
Financing Receivable, Year Three 0   1,950
Financing Receivable, Year Four 1,950   0
Financing Receivable, Year Five 0   0
Financing Receivable Prior 0   0
Financing Receivable, Revolving 24,085   26,424
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 26,035   28,374
Commercial Portfolio Segment [Member]      
Current period gross write-offs, total (0) (0)  
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]      
Financing Receivable, Year One 4,943   33,088
Financing Receivable, Year Two 34,345   7,197
Financing Receivable, Year Three 6,595   10,237
Financing Receivable, Year Four 10,043   7,505
Financing Receivable, Year Five 6,896   2,026
Financing Receivable Prior 10,196   9,150
Financing Receivable, Revolving 32,162   33,151
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 105,180   102,354
Current period gross write-offs, current 0   4
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   4
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member]      
Financing Receivable, Year One 4,943   32,769
Financing Receivable, Year Two 34,033   7,197
Financing Receivable, Year Three 6,595   10,237
Financing Receivable, Year Four 10,043   3,793
Financing Receivable, Year Five 3,191   2,026
Financing Receivable Prior 8,651   7,550
Financing Receivable, Revolving 28,965   29,902
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 96,421   93,474
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Criticized [Member]      
Financing Receivable, Year One 0    
Financing Receivable, Year Two 0    
Financing Receivable, Year Three 0    
Financing Receivable, Year Four 0    
Financing Receivable, Year Five 0    
Financing Receivable Prior 0    
Financing Receivable, Revolving 50    
Financing Receivable, revolving converted to term 0    
Collateral dependent loans 50    
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Classified [Member]      
Financing Receivable, Year One 0   319
Financing Receivable, Year Two 312   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   3,712
Financing Receivable, Year Five 3,705   0
Financing Receivable Prior 1,545   1,600
Financing Receivable, Revolving 3,147   3,249
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 8,709   8,880
Consumer Portfolio Segment [Member]      
Current period gross write-offs, total (0) $ 9  
Consumer Portfolio Segment [Member] | Unsecured [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 0   0
Financing Receivable Prior 0   0
Financing Receivable, Revolving 287   343
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 287   343
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   0
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   0
Consumer Portfolio Segment [Member] | Unsecured [Member] | Pass [Member]      
Financing Receivable, Year One 0   0
Financing Receivable, Year Two 0   0
Financing Receivable, Year Three 0   0
Financing Receivable, Year Four 0   0
Financing Receivable, Year Five 0   0
Financing Receivable Prior 0   0
Financing Receivable, Revolving 287   343
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 287   343
Consumer Portfolio Segment [Member] | Secured [Member]      
Financing Receivable, Year One 71   187
Financing Receivable, Year Two 178   41
Financing Receivable, Year Three 38   184
Financing Receivable, Year Four 148   0
Financing Receivable, Year Five 0   13
Financing Receivable Prior 512   721
Financing Receivable, Revolving 98   85
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans 1,045   1,231
Current period gross write-offs, current 0   0
Current period gross write-offs, year one 0   0
Current period gross write-offs, year two 0   0
Current period gross write-offs, year three 0   0
Current period gross write-offs, year four 0   0
Current period gross write-offs, prior 0   9
Current period gross write-offs, revolving 0   0
Current period gross write-offs, revolving converted to term 0   0
Current period gross write-offs, total 0   9
Consumer Portfolio Segment [Member] | Secured [Member] | Pass [Member]      
Financing Receivable, Year One 71   187
Financing Receivable, Year Two 178   41
Financing Receivable, Year Three 38   184
Financing Receivable, Year Four 148   0
Financing Receivable, Year Five 0   13
Financing Receivable Prior 512   721
Financing Receivable, Revolving 98   85
Financing Receivable, revolving converted to term 0   0
Collateral dependent loans $ 1,045   $ 1,231
v3.25.1
Note 3 - Loans Receivable - Off-balance Sheet Credit Exposure (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Balance $ 287 $ 1,009
Recovery of Credit Losses - Off-Balance Sheet Credit Exposure 0 (359)
Balance $ 287 $ 650
v3.25.1
Note 4 - Derivatives and Risk Management Activities (Details Textual) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Derivative, Excluded Component, Gain, Recognized in Earnings $ 0 $ 0
v3.25.1
Note 4 - Derivatives and Risk Management Activities - Summary of Derivative Instruments (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Matched Interest Rate Swap with Borrower [Member]    
Notional amount $ 215,165 $ 230,417
Positions 39 43
Derivative assets $ 0 $ 0
Derivative liabilities 17,233 21,715
Collateral pledges 0 0
Matched Interest Rate Swap With Counterparty [Member]    
Notional amount $ 215,165 $ 230,417
Positions 39 43
Derivative assets $ 17,233 $ 21,715
Derivative liabilities 0 0
Collateral pledges   $ 0
Collateral pledges $ 0  
v3.25.1
Note 4 - Derivatives and Risk Management Activities - Summary of Derivative Instruments (Details) (Parentheticals)
Mar. 31, 2025
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other Assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities
v3.25.1
Note 5 - Fair Value Presentation (Details Textual) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Nonrecurring [Member]    
Assets, Fair Value Disclosure $ 134 $ 0
v3.25.1
Note 5 - Fair Value Presentation - Fair Value Measured on a Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Available-for-sale $ 55,935 $ 55,747
Collateralized Mortgage-Backed Securities [Member]    
Available-for-sale 17,488 17,193
Subordinated Debt [Member]    
Available-for-sale 8,044 7,907
Preferred Stocks [Member]    
Available-for-sale 456 453
Taxable Municipal Bonds [Member]    
Available-for-sale 8,453 8,201
Nontaxable Municipal Bonds [Member]    
Available-for-sale 19,168 19,621
US Government Agencies Debt Securities [Member]    
Available-for-sale 2,326 2,372
Fair Value, Recurring [Member]    
Total 73,168 77,462
Total 17,233 21,715
Fair Value, Recurring [Member] | Interest Rate Swap [Member]    
Derivative asset – interest rate swap on loans 17,233 21,715
Derivative liability – interest rate swaps on loans 17,233 21,715
Fair Value, Recurring [Member] | Collateralized Mortgage-Backed Securities [Member]    
Available-for-sale 17,488 17,193
Fair Value, Recurring [Member] | Subordinated Debt [Member]    
Available-for-sale 8,044 7,907
Fair Value, Recurring [Member] | Preferred Stocks [Member]    
Available-for-sale 456 453
Fair Value, Recurring [Member] | Taxable Municipal Bonds [Member]    
Available-for-sale 8,453 8,201
Fair Value, Recurring [Member] | Nontaxable Municipal Bonds [Member]    
Available-for-sale 19,168 19,621
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member]    
Available-for-sale 2,326 2,372
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Total 0 0
Total 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]    
Derivative asset – interest rate swap on loans 0 0
Derivative liability – interest rate swaps on loans 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage-Backed Securities [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Subordinated Debt [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Preferred Stocks [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Taxable Municipal Bonds [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Nontaxable Municipal Bonds [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Total 72,462 76,759
Total 17,233 21,715
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]    
Derivative asset – interest rate swap on loans 17,233 21,715
Derivative liability – interest rate swaps on loans 17,233 21,715
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage-Backed Securities [Member]    
Available-for-sale 17,488 17,193
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Debt [Member]    
Available-for-sale 7,794 7,657
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Preferred Stocks [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Taxable Municipal Bonds [Member]    
Available-for-sale 8,453 8,201
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Nontaxable Municipal Bonds [Member]    
Available-for-sale 19,168 19,621
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member]    
Available-for-sale 2,326 2,372
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Total 706 703
Total 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]    
Derivative asset – interest rate swap on loans 0 0
Derivative liability – interest rate swaps on loans 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage-Backed Securities [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Subordinated Debt [Member]    
Available-for-sale 250 250
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Preferred Stocks [Member]    
Available-for-sale 456 453
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Taxable Municipal Bonds [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Nontaxable Municipal Bonds [Member]    
Available-for-sale 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member]    
Available-for-sale $ 0 $ 0
v3.25.1
Note 5 - Fair Value Presentation - Schedule of Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
December 31, 2024 fair value $ 703
Change in fair value (1) 3 [1]
March 31, 2025 fair value $ 706
[1] The change in fair value from December 31, 2024 to March 31, 2025 is due to accretion of the underlying security given that it was purchased at a discount. The change in fair value is not due to fluctuating market conditions.
v3.25.1
Note 5 - Fair Value Presentation - Summary of Assets and Liabilities Measured on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets, fair value $ 134 $ 0
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Collateral Pledged [Member]    
Collateral dependent loans, fair value 134  
Fair Value, Inputs, Level 1 [Member]    
Assets, fair value 0  
Fair Value, Inputs, Level 1 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Collateral Pledged [Member]    
Collateral dependent loans, fair value 0  
Fair Value, Inputs, Level 2 [Member]    
Assets, fair value 0  
Fair Value, Inputs, Level 2 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Collateral Pledged [Member]    
Collateral dependent loans, fair value 0  
Fair Value, Inputs, Level 3 [Member]    
Assets, fair value 134  
Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Collateral Pledged [Member]    
Collateral dependent loans, fair value $ 134  
v3.25.1
Note 5 - Fair Value Presentation - Valuation Techniques for Assets and Liabilities Measured on Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member]
$ in Thousands
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Assets, fair value $ 134 $ 0
Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member]    
Collateral dependent loans, measurement input 0.03  
Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member]    
Collateral dependent loans, measurement input 0.10  
Collateral Pledged [Member] | Valuation Technique, Discounted Cash Flow [Member]    
Collateral dependent loans, fair value $ 134  
v3.25.1
Note 5 - Fair Value Presentation - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Available-for-sale $ 55,935 $ 55,747
Restricted securities 33,611 30,623
Reported Value Measurement [Member]    
Cash and cash equivalents 202,640 207,708
Available-for-sale 55,935 55,747
Held-to-maturity 15,657 16,078
Restricted securities 33,611 30,623
Loans, net 1,811,789 1,810,556
Derivative asset – interest rate swap on loans 17,233 21,715
Bank owned life insurance 39,809 39,507
Accrued interest receivable 9,107 9,059
Deposits 1,908,325 1,907,794
Subordinated debt, net 72,138 73,039
Derivative liability – interest rate swaps on loans 17,233 21,715
Accrued interest payable 3,065 3,362
Estimate of Fair Value Measurement [Member]    
Cash and cash equivalents 202,640 207,708
Available-for-sale 55,935 55,747
Held-to-maturity 15,354 15,865
Restricted securities 33,611 30,623
Loans, net 1,808,292 1,806,846
Derivative asset – interest rate swap on loans 17,233 21,715
Bank owned life insurance 39,809 39,507
Accrued interest receivable 9,107 9,059
Deposits 1,908,604 1,910,018
Subordinated debt, net 67,658 67,239
Derivative liability – interest rate swaps on loans 17,233 21,715
Accrued interest payable 3,065 3,362
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]    
Cash and cash equivalents 202,640 207,708
Available-for-sale 0 0
Held-to-maturity 0 0
Restricted securities 0 0
Loans, net 0 0
Derivative asset – interest rate swap on loans 0 0
Bank owned life insurance 0 0
Accrued interest receivable 0 0
Deposits 0 0
Subordinated debt, net 0 0
Derivative liability – interest rate swaps on loans 0 0
Accrued interest payable 0 0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]    
Cash and cash equivalents 0 0
Available-for-sale 55,229 55,044
Held-to-maturity 15,354 15,865
Restricted securities 33,611 30,623
Loans, net 0 0
Derivative asset – interest rate swap on loans 17,233 21,715
Bank owned life insurance 39,809 39,507
Accrued interest receivable 9,107 9,059
Deposits 1,087,326 1,088,506
Subordinated debt, net 67,658 67,239
Derivative liability – interest rate swaps on loans 17,233 21,715
Accrued interest payable 3,065 3,362
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]    
Cash and cash equivalents 0 0
Available-for-sale 706 703
Held-to-maturity 0 0
Restricted securities 0 0
Loans, net 1,808,292 1,806,846
Derivative asset – interest rate swap on loans 0 0
Bank owned life insurance 0 0
Accrued interest receivable 0 0
Deposits 821,278 821,512
Subordinated debt, net 0 0
Derivative liability – interest rate swaps on loans 0 0
Accrued interest payable $ 0 $ 0
v3.25.1
Note 6 - Earnings Per Common Share (Details Textual) - shares
shares in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Weighted Average Number of Shares Outstanding, Diluted, Adjustment (in shares) 0 0
v3.25.1
Note 6 - Earnings Per Common Share - Calculation of Basic and Dilutes Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net Income $ 2,453 $ 3,305
Preferred stock dividends (539) (539)
Net income available to common shareholders $ 1,914 $ 2,766
Weighted average number of common shares issued, basic and diluted (in shares) 7,636,191 7,611,990
Earnings Per Common Share:    
Basic and diluted earnings per common share (in dollars per share) $ 0.25 $ 0.36
v3.25.1
Note 7 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Unrealized loss on investment securities available-for-sale $ (9,574) $ (10,014)
Tax benefit 2,202 2,303
Total accumulated other comprehensive loss $ (7,372) $ (7,711)
v3.25.1
Note 8 - Leases (Details Textual)
 3 Months Ended
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Finance Lease, Liability $ 0 $ 0
Lessor, Operating Lease, Number of Leases 5  
Operating Lease, Lease Income Per Month $ 10,000  
v3.25.1
Note 8 - Leases - Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Lease liabilities $ 6,349   $ 6,474
Right-of-use assets $ 5,632   $ 5,761
Weighted-average remaining lease term – operating leases (in months). (Month) 143 months 6 days   145 months 12 days
Weighted-average discount rate – operating leases 2.81%   2.81%
Operating lease cost $ 174 $ 171  
Total lease costs 174 171  
Cash paid for amounts included in measurement of lease liabilities $ 170 $ 163  
v3.25.1
Note 8 - Leases - Lease Cost (Details) (Parentheticals)
Mar. 31, 2025
Dec. 31, 2024
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities Other Liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Other Assets
v3.25.1
Note 8 - Leases - Maturity Analysis of Operating Lease Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
2025 $ 522  
2026 709  
2027 588  
2028 594  
2029 605  
Thereafter 4,363  
Total undiscounted cash flows 7,381  
Discount (1,032)  
Lease liabilities $ 6,349 $ 6,474
v3.25.1
Note 8 - Leases - Maturity Analysis of Operating Lease Liabilities (Details) (Parentheticals)
Mar. 31, 2025
Dec. 31, 2024
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities Other Liabilities
v3.25.1
Note 9 - Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Interest and fees on loans [1] $ 31,111 $ 30,582  
Interest income - investments, other 1,852 1,887  
Service charge income 530 469  
Other fee income 409 327  
Total 33,902 33,265  
Total consolidated interest expense 16,453 16,844  
Segment gross profit 17,449 16,421  
Salaries and employee benefits 8,385 7,488  
Furniture and equipment expenses 1,016 935  
Advertising and marketing 481 454  
Outside services 1,173 774  
Other operating expenses 3,259 2,830  
Total non-interest expense 14,314 12,286  
Income Before Income Taxes 3,135 4,135  
Segment assets 2,222,845 2,070,015 $ 2,228,098
Recovery of credit losses, net 0 (195)  
Core Banking Segment [Member]      
Interest and fees on loans [1] 30,776 30,092  
Interest income - investments, other 1,852 1,887  
Service charge income 308 315  
Other fee income 409 327  
Total 33,345 32,621  
Total consolidated interest expense 16,406 16,838  
Segment gross profit 16,939 15,783  
Salaries and employee benefits 6,894 7,117  
Furniture and equipment expenses 718 779  
Advertising and marketing 417 427  
Outside services 399 371  
Other operating expenses 3,150 2,723  
Total non-interest expense 11,578 11,222  
Income Before Income Taxes 5,361 4,561  
Segment assets 2,222,779 2,054,247  
Recovery of credit losses, net   (195)  
Financial Technology Segment [Member]      
Interest and fees on loans [1] 335 490  
Interest income - investments, other 0 0  
Service charge income 222 154  
Other fee income 0 0  
Total 557 644  
Total consolidated interest expense 47 6  
Segment gross profit 510 638  
Salaries and employee benefits 1,491 371  
Furniture and equipment expenses 298 156  
Advertising and marketing 64 27  
Outside services 774 403  
Other operating expenses 109 107  
Total non-interest expense 2,736 1,064  
Income Before Income Taxes (2,226) (426)  
Segment assets $ 66 15,768  
Recovery of credit losses, net   $ 0  
[1] Includes transfer pricing on average deposits outstanding for the period