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Note 10 - Subordinated Debentures (Tables)
12 Months Ended
Dec. 31, 2023
Notes Tables  
Schedule of Subordinated Debentures [Table Text Block]
 

Issue

 

Principal

  

Unamortized

  

Recorded

 

Stated Rate

 

December 31, 2023

 

Stated

(dollars in thousands)

Date

 

Amount

  

Valuation Reserve

  

Value

 

Description

 

Effective Rate

 

Maturity

Subordinated debentures

                   

TFC Trust

December 22, 2006

 $5,155  $1,189  $3,966 

Three-month CME Term SOFR plus 0.26% (a) plus 1.65%,

  7.30%

March 15, 2037

FAIC Trust

December 15, 2004

  7,217   842   6,375 

Three-month CME Term SOFR 0.26% (a) plus 2.25%

  7.90%

December 15, 2034

PGBH Trust

December 15, 2004

  5,155   558   4,597 

Three-month CME Term SOFR 0.26% (a) plus 2.10%

  7.75%

December 15, 2034

Total

 $17,527  $2,589  $14,938