XML 25 R14.htm IDEA: XBRL DOCUMENT v3.24.3

Note 6 - Leases

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

NOTE 6 – LEASES

The Company has operating leases for retail bank and home lending branches, loan production offices, and certain equipment. These leases have remaining terms ranging from two months to five years and nine months, with some including options to extend for up to five years.

The components of lease cost (included in occupancy expense on the Consolidated Statements of Income) for the three and nine months ended September 30, 2024 and 2023 are as follows:

		Three Months Ended September 30,
Lease cost:		2024				2023
Operating lease cost		$	464			$	476
Short-term lease cost			2				5
Total lease cost		$	466			$	481

		Nine Months Ended September 30,
Lease cost:		2024				2023
Operating lease cost		$	1,414			$	1,357
Short-term lease cost			10				14
Total lease cost		$	1,424			$	1,371

The following tables provide supplemental information related to operating leases at or for the three and nine months ended September 30, 2024 and 2023:

		At or For the Three months Ended September 30,
Cash paid for amounts included in the measurement of lease liabilities:		2024				2023
Operating cash flows from operating leases		$	483			$	486
Weighted average remaining lease term- operating leases (in years)			3.5				4.2
Weighted average discount rate- operating leases			3.01	%			2.93	%

		At or For the Nine Months Ended September 30,
Cash paid for amounts included in the measurement of lease liabilities:		2024				2023
Operating cash flows from operating leases		$	1,462			$	1,392
Weighted average remaining lease term- operating leases (in years)			3.5				4.2
Weighted average discount rate- operating leases			3.01	%			2.93	%

The Company’s leases typically do not contain a discount rate implicit in the lease contract.  As an alternative, the discount rate used in determining the lease liability for each individual lease was the FHLB of Des Moines’ fixed-advance rate.

Maturities of operating lease liabilities at  September 30, 2024 for future periods are as follows:

Remainder of 2024		$	479
2025			1,628
2026			1,475
2027			1,173
2028			428
Thereafter			954
Total lease payments			6,137
Less imputed interest			(589	)
Total		$	5,548

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureTextBlockAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

+ Details

Name:	us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration