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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

 

The table below shows the following information for the past five fiscal years: (i) “total” compensation for our named executive officers (“NEOs”) for purposes of the “Summary compensation table”; (ii) the “Compensation actually paid” to named executive officers (calculated using rules required by the SEC); (iii) our total shareholder return (“TSR”); (iv) the TSR of the S&P U.S. BMI Banks Index; (v) our net income; and (vi) our return on average tangible common equity. “Compensation actually paid” does not represent the value of cash and shares of the Company’s common stock received by named executive officers during the year, but rather is an amount calculated under SEC rules and includes, among other things, year-over-year changes in the value of unvested equity-based awards. As a result of the calculation methodology required by the SEC, “Compensation actually paid” amounts below differ from compensation actually received by the individuals.

 

Year  “Summary
compensation
table” total for
CEO(1)		  Compensation
actually paid to
CEO(2)		  Average
“Summary
compensation
table” total for
other NEOs(1)		  Average
compensation
actually paid to
other NEOs(2)		  Company
TSR(3)		  Peer group
TSR(3)		  Net income
(in
thousands)		  Return on
average
tangible
common
equity(4)		 
2024  $924,318  $710,087  $443,009  $390,799  121.93  143.68  $8.498  2.63%
2023  $927,073  $894,021  $517,313  $490,183  110.97  107.32  $27,380  10.30%
2022  $992,140  $1,002,424  $537,708  $529,093  113.83  98.38  $38,090  14.80%
2021  $1,009,089  $1,201,076  $587,389  $622,866  112.19  118.61  $43,519  12.94%
2020  $979,298  $941,198  $511,529  $517,386  75.70  87.24  $29,354  14.80%

 

(1)The CEO for each year reported was Craig W. Best. The other named executive officers, or NEOs, for each year reported were: Thomas P. Tulaney, Neal D. Koplin, Timothy H. Kirtley and John R. Anderson III.
(2)SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):

 

Year   Executive(s)   “Summary
compensation
table” total		   Deduct
change in
pension
value		     Add
pension
services
costs		     Deduct
stock
awards		     Add year-
end value of
unvested
equity
awards
granted in
year		     Change in
value of
unvested
equity
awards
granted in
prior years		     Change in
value of equity
awards
granted in
prior years
which vested in
year		     Deduct value
of equity
awards
granted in
prior years
that failed to
vest		     Add
dividends		  
2024   CEO   $ 924,318     –       –     $ (49,609 )   $ 63,003     $ 72,280     $ (5,273 )   $ (299,408 )   $ 4,776  
    Other NEOs   $ 443,009   $ (26,637 )   $ (38,302 )   $ (21,843 )   $ 27,740     $ 31,760     $ (2,226 )   $ (24,788 )   $ 2,086  
2023   CEO   $ 927,073   $ (6,996 )     –     $ (223,175 )   $ 248,711     $ (14,394 )   $ (15,868 )   $ (24,883 )   $ 3,553  
    Other NEOs   $ 517,313   $ (66,964 )   $ 50,329     $ (96,684 )   $ 107,737     $ (6,206 )   $ (6,569 )   $ (10,290 )   $ 1,518  
2022   CEO   $ 992,140     –       –     $ (217,333 )   $ 235,405     $ (4,312 )   $ (6,823 )     –     $ 3,347  
    Other NEOs   $ 537,708   $ (60,394 )   $ 47,076     $ (94,081 )   $ 101,904     $ (1,778 )   $ (2,734 )     –     $ 1,393  
2021   CEO   $ 1,009,089     –       –     $ (217,311 )   $ 269,351     $ 73,039     $ 63,721       –     $ 3,187  
    Other NEOs   $ 587,389   $ (111,305 )   $ 70,743     $ (89,845 )   $ 111,360     $ 29,005     $ 24,260       –     $ 1,258  
2020   CEO   $ 979,298   $ (20,310 )     –     $ (207,701 )   $ 237,686     $ (62,229 )   $ 48,255     $ (36,604 )   $ 2,802  
    Other NEOs   $ 511,529   $ (55,588 )   $ 70,743     $ (82,707 )   $ 94,647     $ (23,185 )   $ 10,956     $ (10,007 )   $ 998  

 

(3)TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the S&P U.S. BMI Banks Index.
(4)Return on average tangible common equity (ROATCE), a non-GAAP measure, is equal to net income divided by the difference of average stockholders’ equity minus average intangible assets.
        
Company Selected Measure Name Return on average tangible common equity        
Named Executive Officers, Footnote (1)The CEO for each year reported was Craig W. Best. The other named executive officers, or NEOs, for each year reported were: Thomas P. Tulaney, Neal D. Koplin, Timothy H. Kirtley and John R. Anderson III.        
Peer Group Issuers, Footnote (3)TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the S&P U.S. BMI Banks Index.        
PEO Total Compensation Amount $ 924,318 $ 927,073 $ 992,140 $ 1,009,089 $ 979,298
PEO Actually Paid Compensation Amount $ 710,087 894,021 1,002,424 1,201,076 941,198
Adjustment To PEO Compensation, Footnote (2)SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
Year   Executive(s)   “Summary
compensation
table” total		   Deduct
change in
pension
value		     Add
pension
services
costs		     Deduct
stock
awards		     Add year-
end value of
unvested
equity
awards
granted in
year		     Change in
value of
unvested
equity
awards
granted in
prior years		     Change in
value of equity
awards
granted in
prior years
which vested in
year		     Deduct value
of equity
awards
granted in
prior years
that failed to
vest		     Add
dividends		  
2024   CEO   $ 924,318     –       –     $ (49,609 )   $ 63,003     $ 72,280     $ (5,273 )   $ (299,408 )   $ 4,776  
    Other NEOs   $ 443,009   $ (26,637 )   $ (38,302 )   $ (21,843 )   $ 27,740     $ 31,760     $ (2,226 )   $ (24,788 )   $ 2,086  
2023   CEO   $ 927,073   $ (6,996 )     –     $ (223,175 )   $ 248,711     $ (14,394 )   $ (15,868 )   $ (24,883 )   $ 3,553  
    Other NEOs   $ 517,313   $ (66,964 )   $ 50,329     $ (96,684 )   $ 107,737     $ (6,206 )   $ (6,569 )   $ (10,290 )   $ 1,518  
2022   CEO   $ 992,140     –       –     $ (217,333 )   $ 235,405     $ (4,312 )   $ (6,823 )     –     $ 3,347  
    Other NEOs   $ 537,708   $ (60,394 )   $ 47,076     $ (94,081 )   $ 101,904     $ (1,778 )   $ (2,734 )     –     $ 1,393  
2021   CEO   $ 1,009,089     –       –     $ (217,311 )   $ 269,351     $ 73,039     $ 63,721       –     $ 3,187  
    Other NEOs   $ 587,389   $ (111,305 )   $ 70,743     $ (89,845 )   $ 111,360     $ 29,005     $ 24,260       –     $ 1,258  
2020   CEO   $ 979,298   $ (20,310 )     –     $ (207,701 )   $ 237,686     $ (62,229 )   $ 48,255     $ (36,604 )   $ 2,802  
    Other NEOs   $ 511,529   $ (55,588 )   $ 70,743     $ (82,707 )   $ 94,647     $ (23,185 )   $ 10,956     $ (10,007 )   $ 998  
        
Non-PEO NEO Average Total Compensation Amount $ 443,009 517,313 537,708 587,389 511,529
Non-PEO NEO Average Compensation Actually Paid Amount $ 390,799 490,183 529,093 622,866 517,386
Adjustment to Non-PEO NEO Compensation Footnote (2)SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
Year   Executive(s)   “Summary
compensation
table” total		   Deduct
change in
pension
value		     Add
pension
services
costs		     Deduct
stock
awards		     Add year-
end value of
unvested
equity
awards
granted in
year		     Change in
value of
unvested
equity
awards
granted in
prior years		     Change in
value of equity
awards
granted in
prior years
which vested in
year		     Deduct value
of equity
awards
granted in
prior years
that failed to
vest		     Add
dividends		  
2024   CEO   $ 924,318     –       –     $ (49,609 )   $ 63,003     $ 72,280     $ (5,273 )   $ (299,408 )   $ 4,776  
    Other NEOs   $ 443,009   $ (26,637 )   $ (38,302 )   $ (21,843 )   $ 27,740     $ 31,760     $ (2,226 )   $ (24,788 )   $ 2,086  
2023   CEO   $ 927,073   $ (6,996 )     –     $ (223,175 )   $ 248,711     $ (14,394 )   $ (15,868 )   $ (24,883 )   $ 3,553  
    Other NEOs   $ 517,313   $ (66,964 )   $ 50,329     $ (96,684 )   $ 107,737     $ (6,206 )   $ (6,569 )   $ (10,290 )   $ 1,518  
2022   CEO   $ 992,140     –       –     $ (217,333 )   $ 235,405     $ (4,312 )   $ (6,823 )     –     $ 3,347  
    Other NEOs   $ 537,708   $ (60,394 )   $ 47,076     $ (94,081 )   $ 101,904     $ (1,778 )   $ (2,734 )     –     $ 1,393  
2021   CEO   $ 1,009,089     –       –     $ (217,311 )   $ 269,351     $ 73,039     $ 63,721       –     $ 3,187  
    Other NEOs   $ 587,389   $ (111,305 )   $ 70,743     $ (89,845 )   $ 111,360     $ 29,005     $ 24,260       –     $ 1,258  
2020   CEO   $ 979,298   $ (20,310 )     –     $ (207,701 )   $ 237,686     $ (62,229 )   $ 48,255     $ (36,604 )   $ 2,802  
    Other NEOs   $ 511,529   $ (55,588 )   $ 70,743     $ (82,707 )   $ 94,647     $ (23,185 )   $ 10,956     $ (10,007 )   $ 998  
        
Compensation Actually Paid vs. Total Shareholder Return

 

        
Compensation Actually Paid vs. Net Income

       
Compensation Actually Paid vs. Company Selected Measure

       
Tabular List, Table

Company’s Most Important Financial Performance Measures

 

The following were the most important financial performance measures, as determined by the Company, that link compensation actually paid to our CEO and other NEOs to the Company’s performance for the most recently completed fiscal year.

 

Earnings per share (EPS) growth Asset growth
Revenue growthRatio of non-performing assets to average
Expense to asset ratioloans plus other real estate owned
Loan growthRatio of net charge-offs to average loans
Deposit growth 

 

Each of these financial performance measures has been used in our incentive programs to determine the level of payout. Due to the pendency of the FNCB merger during the first half of 2024, however, the committee did not set specific performance goals for 2024, but relied on the provisions of the Cash Incentive Plan which allow the committee to award cash bonuses at such times and in such amounts as determined by the committee in its discretion from time to time.

        
Total Shareholder Return Amount $ 121.93 110.97 113.83 112.19 75.7
Peer Group Total Shareholder Return Amount 143.68 107.32 98.38 118.61 87.24
Net Income (Loss) $ 8,498 $ 27,380,000 $ 38,090,000 $ 43,519,000 $ 29,354,000
Company Selected Measure Amount 2.63 10.3 14.8 12.94 14.8
PEO Name Craig W. Best        
Measure:: 1          
Pay vs Performance Disclosure          
Name Earnings per share (EPS) growth        
Non-GAAP Measure Description (4)Return on average tangible common equity (ROATCE), a non-GAAP measure, is equal to net income divided by the difference of average stockholders’ equity minus average intangible assets.        
Measure:: 2          
Pay vs Performance Disclosure          
Name Revenue growth        
Measure:: 3          
Pay vs Performance Disclosure          
Name Expense to asset ratio        
Measure:: 4          
Pay vs Performance Disclosure          
Name Loan growth        
Measure:: 5          
Pay vs Performance Disclosure          
Name Deposit growth        
Measure:: 6          
Pay vs Performance Disclosure          
Name Asset growth        
Measure:: 7          
Pay vs Performance Disclosure          
Name Ratio of non-performing assets to averageloans plus other real estate owned        
Measure:: 8          
Pay vs Performance Disclosure          
Name Ratio of net charge-offs to average loans        
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (6,996) $ (20,310)
PEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (49,609) (223,175) (217,333) (217,311) (207,701)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 63,003 248,711 235,405 269,351 237,686
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 72,280 (14,394) (4,312) 73,039 (62,229)
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (5,273) (15,868) (6,823) 63,721 48,255
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (299,408) (24,883) (36,604)
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,776 3,553 3,347 3,187 2,802
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (26,637) (66,964) (60,394) (111,305) (55,588)
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (38,302) 50,329 47,076 70,743 70,743
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (21,843) (96,684) (94,081) (89,845) (82,707)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 27,740 107,737 101,904 111,360 94,647
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 31,760 (6,206) (1,778) 29,005 (23,185)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,226) (6,569) (2,734) 24,260 10,956
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (24,788) (10,290) (10,007)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 2,086 $ 1,518 $ 1,393 $ 1,258 $ 998