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Note 11 - Long-term Debt

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Long-Term Debt [Text Block]

NOTE 11 Long‑Term Debt

Long‑term debt as of September 30, 2025 and December 31, 2024 consisted of the following:

		*September 30, 2025*
												*Period End*
		*Face*				*Carrying*						*Interest*				*Maturity*
(dollars in thousands)		*Value*				*Value*				*Interest Rate*		*Rate*				*Date*		*Call Date*
Subordinated notes payable		$	50,000			$	50,000			Fixed			3.50	%		3/30/2031		3/31/2026
Junior subordinated debenture (Trust I)			4,124				3,662			Three-month CME SOFR + 0.26% + 3.10%			7.36	%		6/26/2033		6/26/2008
Junior subordinated debenture (Trust II)			6,186				5,492			Three-month CME SOFR + 0.26% + 1.80%			6.10	%		9/15/2036		9/15/2011
Total long-term debt		$	60,310			$	59,154

		*December 31, 2024*
												*Period End*
		*Face*				*Carrying*						*Interest*				*Maturity*
(dollars in thousands)		*Value*				*Value*				*Interest Rate*		*Rate*				*Date*		*Call Date*
Subordinated notes payable		$	50,000			$	50,000.00			Fixed			3.50	%		3/30/2031		3/31/2026
Junior subordinated debenture (Trust I)			4,124				3,628			Three-month CME SOFR + 0.26% + 3.10%			7.69	%		6/26/2033		6/26/2008
Junior subordinated debenture (Trust II)			6,186				5,441			Three-month CME SOFR + 0.26% + 1.80%			6.42	%		9/15/2036		9/15/2011
Total long-term debt		$	60,310			$	59,069