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Note 5 - Loan Restructurings

9 Months Ended

Sep. 30, 2025

Financing Receivable Restructurings [Text Block]

Loan Restructurings

The Company evaluates all loan restructurings according to the accounting guidance for loan modifications to determine if the restructuring results in a new loan or a continuation of the existing loan. Loan modifications to borrowers experiencing financial difficulty that result in a direct change in the timing or amount of contractual cash flows include situations where there is principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions, and combinations of the listed modifications. Therefore, the disclosures related to loan restructurings are only for modifications that directly affect cash flows.

Any restructuring of a loan in which the borrower has experienced financial difficulty and the terms of the loan are more favorable than would generally be considered for borrowers with the same credit characteristics would be individually evaluated. Otherwise, the restructured loan remains in the appropriate segment in the ACL model.

The following table presents the amortized cost basis of loans that were both experiencing financial difficulty and modified during the three and nine months ended September 30, 2025 and September 30, 2024, by class and type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:

Three Months Ended September 30, 2025	Amortized Cost
(In Thousands of Dollars)	Payment Deferral		Term Extension		Interest Rate Reduction		Combination Payment Deferral and Interest Rate Reduction		Combination Term Extension and Interest Rate Reduction		Total		% of Total Class of Financing Receivable
Commercial real estate
Other	$	111	$	0	$	482		510	$	0	$	1,103		0.37	%
Residential real estate
Home equity lines of credit		0		0		277		0		0	$	277		0.16	%
Total modifications to borrowers experiencing financial difficulty	$	111	$	0	$	759	$	510	$	0	$	1,380		0.04	%

Nine Months Ended September 30, 2025	Amortized Cost
(In Thousands of Dollars)	Payment Deferral		Term Extension		Interest Rate Reduction		Combination Payment Deferral and Interest Rate Reduction		Combination Term Extension and Interest Rate Reduction		Total		% of Total Class of Financing Receivable
Commercial real estate
Non-owner occupied	$	0	$	11,128	$	0	$	0	$	0	$	11,128		1.52	%
Other		111		0		482		510		0	$	1,103		0.37	%
Commercial
Commercial and industrial		124		0		0		0		58	$	182		0.05	%
Residential real estate
1-4 family residential		103		0		0		0		0	$	103		0.01	%
Home equity lines of credit		0		14		277		0		75	$	366		0.21	%
Total modifications to borrowers experiencing financial difficulty	$	338	$	11,142	$	759	$	510	$	133	$	12,882		0.39	%

Three Months Ended September 30, 2024	Amortized Cost
							Combination				% of Total
							Term Extension				Class of
	Payment		Principal		Interest Rate		and Interest				Financing
(In Thousands of Dollars)	Deferral		Forgiveness		Reduction		Rate Reduction		Total		Receivable
Residential real estate
Home equity lines of credit	$	0	$	0	$	0	$	0	$	0		0.00	%
Total modifications to borrowers experiencing financial difficulty	$	0	$	0	$	0	$	0	$	0		0.00	%

Nine Months Ended September 30, 2024	Amortized Cost
							Combination				% of Total
							Term Extension				Class of
	Payment		Principal		Interest Rate		and Interest				Financing
(In Thousands of Dollars)	Deferral		Forgiveness		Reduction		Rate Reduction		Total		Receivable
Residential real estate
Home equity lines of credit	$	0	$	0	$	29	$	20	$	49		0.03	%
Total modifications to borrowers experiencing financial difficulty	$	0	$	0	$	29	$	20	$	49		0.00	%

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2025 and September 30, 2024:

Payment Deferral

Term Extension

Interest Rate Reduction

Weighted-Average

Weighted-Average Years

Weighted-Average

Principal Deferred

Added to the Life

Contractual Interest Rate

Three Months Ended September 30, 2025

From

Commercial real estate

Other

6.81

5.25

Residential real estate

Home equity lines of credit

7.75

5.00

	Payment Deferral		Term Extension		Interest Rate Reduction
	Weighted-Average		Weighted-Average Years		Weighted-Average
	Principal Deferred		Added to the Life		Contractual Interest Rate
Nine Months Ended September 30, 2025					From			To
Commercial real estate
Non-owner occupied				1
Other	$	16				6.81	%		5.25	%
Commercial
Commercial and industrial		112		6		10.25	%		8.00	%
Residential real estate
1-4 family residential		6
Home equity lines of credit				9		7.75	%		4.79	%

Payment Deferral

Term Extension

Interest Rate Reduction

Weighted-Average

Weighted-Average Years

Weighted-Average

Principal Deferred

Added to the Life

Contractual Interest Rate

Three Months Ended September 30, 2024

From

Residential real estate

Home Equity Lines of Credit

0.00

Payment Deferral

Term Extension

Interest Rate Reduction

Weighted-Average

Weighted-Average Years

Weighted-Average

Principal Deferred

Added to the Life

Contractual Interest Rate

Nine Months Ended September 30, 2024

From

Residential real estate

1-4 family residential

10.45

5.91

The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans that have been modified in the three and nine months ended September 30, 2025 and September 30, 2024:

Three Months Ended September 30, 2025	Payment status (Amortized cost Basis)
			30-89		90+
(In Thousands of Dollars)	Current		Days past due		Days past due
Accrual restructured loans
Commercial real estate
Other	$	0	$	0	$	0
Residential real estate
Home equity lines of credit		0		0		0
Total accruing restructured loans	$	0	$	0	$	0

Nonaccrual restructured loans
Commercial real estate
Other	$	1,103	$	0	$	0
Residential real estate
Home equity lines of credit		277		0		0
Total nonaccrual restructured loans	$	1,380	$	0	$	0
Total restructured loans	$	1,380	$	0	$	0

Nine Months Ended September 30, 2025	Payment status (Amortized cost Basis)
			30-89		90+
(In Thousands of Dollars)	Current		Days past due		Days past due
Accrual restructured loans
Commercial real estate
Non-owner occupied	$	11,154	$	0	$	0
Other		0		0		0
Commercial
Commercial and industrial		0		0		0
Residential real estate
1-4 family residential		103		0		0
Home equity lines of credit		88		0		0
Total accruing restructured loans	$	11,345	$	0	$	0

Nonaccrual restructured loans
Commercial real estate
Non-owner occupied	$	0	$	0	$	0
Other		1,103		0		0
Commercial
Commercial and industrial		54		0		0
Residential real estate
1-4 family residential		0		0		0
Home equity lines of credit		277		0		0
Total nonaccrual restructured loans	$	1,434	$	0	$	0
Total restructured loans	$	12,779	$	0	$	0

Three Months Ended September 30, 2024	Payment status (Amortized cost Basis)
			30-89		90+
(In Thousands of Dollars)	Current		Days past due		Days past due
Accrual restructured loans
Residential real estate
Home equity lines of credit	$	0	$	0	$	0
Total accruing restructured loans	$	0	$	0	$	0

Nonaccrual restructured loans
Total nonaccrual restructured loans	$	0	$	0	$	0
Total restructured loans	$	0	$	0	$	0

Nine Months Ended September 30, 2024	Payment status (Amortized cost Basis)
			30-89		90+
(In Thousands of Dollars)	Current		Days past due		Days past due
Accrual restructured loans
Residential real estate
Home equity lines of credit	$	0	$	20	$	0
Total accruing restructured loans	$	0	$	20	$	0

Nonaccrual restructured loans
Residential real estate
Home equity lines of credit		0		0		29
Total nonaccrual restructured loans	$	0	$	0	$	29
Total restructured loans	$	0	$	20	$	29

As of September 30, 2025, the Company had no commitments to lend any additional funds on restructured loans.

The following table presents the amortized cost basis of loans that had a payment default during the three and nine months ended September 30, 2025 and September 30, 2024, and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty. For purposes of this disclosure a default occurs when within 12 months of the original modification, a loan is 30 days contractually past due under the modified terms:

Three Months Ended September 30, 2025	Amortized Cost
							Combination
							Term Extension
	Payment		Term		Interest Rate		and Interest Rate
(In Thousands of Dollars)	Deferral		Extension		Reduction		Reduction
Commercial
Commercial and industrial	$	0	$	0	$	0	$	0
Residential real estate
Home equity lines of credit		0		0		0		0
Total modifications to borrowers experiencing financial difficulty	$	0	$	0	$	0	$	0

Nine Months Ended September 30, 2025	Amortized Cost
							Combination
							Term Extension
	Payment		Term		Interest Rate		and Interest Rate
(In Thousands of Dollars)	Deferral		Extension		Reduction		Reduction
Commercial
Commercial and industrial	$	124	$	0	$	0	$	0
Residential real estate
Home equity lines of credit		0		0		0		19
Total modifications to borrowers experiencing financial difficulty	$	124	$	0	$	0	$	19

Three Months Ended September 30, 2024	Amortized Cost
							Combination
							Term Extension
	Payment		Term		Interest Rate		and Interest Rate
(In Thousands of Dollars)	Deferral		Extension		Reduction		Reduction
Residential real estate
1-4 family residential	$	0	$	37	$	0	$	0
Home equity lines of credit		0		0		29		20
Total modifications to borrowers experiencing financial difficulty	$	0	$	37	$	29	$	20

Nine Months Ended September 30, 2024	Amortized Cost
							Combination
							Term Extension
	Payment		Term		Interest Rate		and Interest Rate
(In Thousands of Dollars)	Deferral		Extension		Reduction		Reduction
Residential real estate
1-4 family residential	$	0	$	37	$	0	$	0
Home equity lines of credit		0		0		29		20
Total modifications to borrowers experiencing financial difficulty	$	0	$	37	$	29	$	20

Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance of the credit losses is adjusted by the same amount.