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Note 11 - Subsequent Events
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 11. Subsequent Events

 

On October 3, 2022, First Bank Financial Services, Inc., a wholly owned subsidiary of the Bank, received proceeds totaling $3.1 million from the sale of its interest in a broker-dealer of investments. First Bank Financial Services, Inc. expects to record a gain on the sale of the investment totaling $2.9 million in the fourth quarter of 2022. The gain has not been reflected on the Company’s income statement for the three or nine months ended September 30, 2022.

 

On October 12, 2022 the Board of Directors of the Company authorized a stock repurchase plan pursuant to which the Company is authorized to repurchase up to $5.0 million of the Company’s outstanding common stock through December 31, 2023.  Through November 10, 2022, there have been no stock repurchases under the plan.