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Note 21 - Qualified Affordable Housing Project Investments | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Affordable Housing Program [Text Block] | NOTE 21 – QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company began investing in qualified affordable housing projects in 2016. At December 31, 2023 and December 31, 2022, the balance of the investment for qualified affordable housing projects was $6.4 million and $7.6 million, respectively. This balance is reflected in the accrued interest and other assets line on the consolidated balance sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled $2.3 million and $2.6 million at December 31, 2023 and December 31, 2022. The Company expects to fulfill these commitments between 2024 and 2038. During the years ended December 31, 2023, 2022 and 2021, the Company recognized amortization expense of $1.1 million, $1.1 million, and $1.0 million, respectively, which was included within income tax expense on the consolidated statements of income. During the years ended December 31, 2023, 2022 and 2021, the Company recognized tax credits from its investment in affordable housing tax credits of $1.0 million, $991,000 and $1.0 million, respectively. The Company had no impairment losses during the years ended December 31, 2023, 2022 and 2021.

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