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Note 10 - Commitments and Contingent Liabilities | 3 Months Ended
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Mar. 31, 2025
Notes to Financial Statements |
Commitments and Contingencies Disclosure [Text Block] | Note 10: Commitments and Contingent Liabilities Loan commitments are agreements to lend to a customer provided there is no violation of any condition established in the agreement. Certain agreements provide the Company the right to cancel or reduce its obligations to lend to customers. The portions that are not unconditionally cancellable by the Company aggregated $25,555 thousand at March 31, 2025 and $26,292 thousand at December 31, 2024. Commitments generally have fixed expiration dates or other termination clauses. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future funding requirements. Loan commitments are subject to the Company’s normal credit policies and collateral requirements. Unfunded loan commitments were $184,043 thousand at March 31, 2025 and $171,672 thousand at December 31, 2024. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. Standby letters of credit are primarily issued to support customers’ short-term financing requirements and must meet the Company’s normal credit policies and collateral requirements. Financial and performance standby letters of credit outstanding totaled $917 thousand at March 31, 2025 and $1,926 thousand at December 31, 2024. The Company had no commitments for commercial and similar letters of credit at March 31, 2025 or at December 31, 2024. The Company had $1,000 thousand in outstanding full recourse guarantees to a third party credit card company at March 31, 2025 and December 31, 2024, respectively. At March 31, 2025, the Company had a reserve for unfunded commitments of $201 thousand for the above-mentioned loan commitments of $25,555 thousand that are not unconditionally cancellable by the Company. The Company’s reserve for unfunded commitments was $201 thousand at December 31, 2024. The reserve for unfunded commitments is included in other liabilities. Due to the nature of its business, the Company is subject to various threatened or filed legal cases. Based on the advice of legal counsel, the Company does not expect such cases will have a material, adverse effect on its financial position or results of operations. Legal liabilities are accrued when obligations become probable and the amount can be reasonably estimated.

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