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Note 6 - Leases | 6 Months Ended
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Jun. 30, 2025
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 6 - LEASES The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The leases have remaining terms up to 14 years. At June 30, 2025, the Company had lease right-of-use assets and lease liabilities totaling $23.7 million and $24.7 million, respectively, compared to $26.1 million and $27.1 million, respectively, at December 31, 2024, which are reflected in other assets and other liabilities, respectively, in the Company’s Consolidated Balance Sheets. Maturities of operating lease liabilities are as follows:
|  | June 30, 2025 |
|  | (In Thousands) |
2025 (remaining) |  | $ | 2,755 |
2026 |  |  | 4,862 |
2027 |  |  | 4,223 |
2028 |  |  | 3,361 |
2029 |  |  | 2,795 |
thereafter |  |  | 10,963 |
Total lease payments |  |  | 28,958 |
Less: imputed interest |  |  | (4,264 | )
Present value of operating lease liabilities |  | $ | 24,694 |
As of June 30, 2025, the weighted average remaining term of operating leases and the weighted average discount rate used in the measurement of operating lease liabilities was 7.6 years and 3.81%, respectively, compared to 7.9 years and 3.74%, respectively, as of June 30, 2024. Operating cash flows related to leases were $1.5 million and $3.0 million for the three and six months ended June 30, 2025, respectively, compared to $1.4 million and $2.8 million for the three and six months ended June 30, 2024, respectively. Lease costs during the three and six months ended June 30, 2025 and June 30, 2024 were as follows (in thousands):
|  | Three Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Operating lease cost |  | $ | 1,491 |  |  | $ | 1,401 |
Short-term lease cost |  |  | 18 |  |  |  | - |
Variable lease cost |  |  | 225 |  |  |  | 220 |
Sublease income |  |  | (5 | ) |  |  | (5 | )
Net lease cost |  | $ | 1,729 |  |  | $ | 1,616 |
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Operating lease cost |  | $ | 2,982 |  |  | $ | 2,795 |
Short-term lease cost |  |  | 34 |  |  |  | - |
Variable lease cost |  |  | 452 |  |  |  | 433 |
Sublease income |  |  | (11 | ) |  |  | (11 | )
Net lease cost |  | $ | 3,457 |  |  | $ | 3,217 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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