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Note 15 - Regulatory Matters | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 15. Regulatory Matters The Company and the Banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Banks’ financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Banks must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Regulators also have the ability to impose higher limits than those specified by capital adequacy guidelines if they so deem necessary. Management believes, as of December 31, 2023 and 2022, that the Company and each subsidiary bank met all capital adequacy requirements to which they are subject. The Company’s and each of the subsidiary bank’s actual capital amounts and ratios as of December 31, 2023 and 2022 are also presented in the tables. (dollars in thousands)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | For Capital |  |  | Prompt Corrective |
|  | Actual |  |  | Adequacy Purposes |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk- weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 218,049 |  |  |  | 14.0 | % |  | $ | 164,005 |  |  |  | 10.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 16,232 |  |  |  | 13.6 |  |  |  | 12,510 |  |  |  | 10.50 |  |  |  | 11,914 |  |  |  | 10.0 | %
First National Bank |  |  | 112,057 |  |  |  | 13.9 |  |  |  | 84,863 |  |  |  | 10.50 |  |  |  | 80,822 |  |  |  | 10.0 |
Iowa State Savings Bank |  |  | 26,691 |  |  |  | 15.7 |  |  |  | 17,854 |  |  |  | 10.50 |  |  |  | 17,004 |  |  |  | 10.0 |
Reliance State Bank |  |  | 28,755 |  |  |  | 11.9 |  |  |  | 25,293 |  |  |  | 10.50 |  |  |  | 24,089 |  |  |  | 10.0 |
State Bank & Trust |  |  | 22,283 |  |  |  | 16.0 |  |  |  | 14,597 |  |  |  | 10.50 |  |  |  | 13,902 |  |  |  | 10.0 |
United Bank & Trust |  |  | 12,989 |  |  |  | 16.1 |  |  |  | 8,486 |  |  |  | 10.50 |  |  |  | 8,082 |  |  |  | 10.0 |
Tier 1 capital (to risk- weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 200,187 |  |  |  | 12.8 | % |  | $ | 132,766 |  |  |  | 8.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 15,309 |  |  |  | 12.8 |  |  |  | 10,127 |  |  |  | 8.50 |  |  |  | 9,532 |  |  |  | 8.0 | %
First National Bank |  |  | 102,634 |  |  |  | 12.7 |  |  |  | 68,699 |  |  |  | 8.50 |  |  |  | 64,658 |  |  |  | 8.0 |
Iowa State Savings Bank |  |  | 24,619 |  |  |  | 14.5 |  |  |  | 14,453 |  |  |  | 8.50 |  |  |  | 13,603 |  |  |  | 8.0 |
Reliance State Bank |  |  | 25,937 |  |  |  | 10.8 |  |  |  | 20,476 |  |  |  | 8.50 |  |  |  | 19,271 |  |  |  | 8.0 |
State Bank & Trust |  |  | 20,676 |  |  |  | 14.9 |  |  |  | 11,817 |  |  |  | 8.50 |  |  |  | 11,122 |  |  |  | 8.0 |
United Bank & Trust |  |  | 11,979 |  |  |  | 14.8 |  |  |  | 6,870 |  |  |  | 8.50 |  |  |  | 6,466 |  |  |  | 8.0 |
Tier 1 capital (to average- assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 200,187 |  |  |  | 9.0 | % |  | $ | 88,992 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 15,309 |  |  |  | 9.6 |  |  |  | 6,393 |  |  |  | 4.00 |  |  |  | 7,991 |  |  |  | 5.0 | %
First National Bank |  |  | 102,634 |  |  |  | 8.8 |  |  |  | 46,878 |  |  |  | 4.00 |  |  |  | 58,597 |  |  |  | 5.0 |
Iowa State Savings Bank |  |  | 24,619 |  |  |  | 9.6 |  |  |  | 10,234 |  |  |  | 4.00 |  |  |  | 12,792 |  |  |  | 5.0 |
Reliance State Bank |  |  | 25,937 |  |  |  | 8.3 |  |  |  | 12,464 |  |  |  | 4.00 |  |  |  | 15,580 |  |  |  | 5.0 |
State Bank & Trust |  |  | 20,676 |  |  |  | 9.6 |  |  |  | 8,573 |  |  |  | 4.00 |  |  |  | 10,717 |  |  |  | 5.0 |
United Bank & Trust |  |  | 11,979 |  |  |  | 9.5 |  |  |  | 5,039 |  |  |  | 4.00 |  |  |  | 6,299 |  |  |  | 5.0 |
Common equity tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 200,187 |  |  |  | 12.8 | % |  | $ | 109,337 |  |  |  | 7.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 15,309 |  |  |  | 12.8 |  |  |  | 8,340 |  |  |  | 7.00 |  |  |  | 7,744 |  |  |  | 6.5 | %
First National Bank |  |  | 102,634 |  |  |  | 12.7 |  |  |  | 56,576 |  |  |  | 7.00 |  |  |  | 52,534 |  |  |  | 6.5 |
Iowa State Savings Bank |  |  | 24,619 |  |  |  | 14.5 |  |  |  | 11,903 |  |  |  | 7.00 |  |  |  | 11,052 |  |  |  | 6.5 |
Reliance State Bank |  |  | 25,937 |  |  |  | 10.8 |  |  |  | 16,862 |  |  |  | 7.00 |  |  |  | 15,658 |  |  |  | 6.5 |
State Bank & Trust |  |  | 20,676 |  |  |  | 14.9 |  |  |  | 9,731 |  |  |  | 7.00 |  |  |  | 9,036 |  |  |  | 6.5 |
United Bank & Trust |  |  | 11,979 |  |  |  | 14.8 |  |  |  | 5,657 |  |  |  | 7.00 |  |  |  | 5,253 |  |  |  | 6.5 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | For Capital |  |  | Prompt Corrective |
|  | Actual |  |  | Adequacy Purposes |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk- weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 215,799 |  |  |  | 14.1 | % |  | $ | 160,370 |  |  |  | 10.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 15,962 |  |  |  | 12.9 |  |  |  | 12,984 |  |  |  | 10.50 |  |  |  | 12,366 |  |  |  | 10.0 | %
First National Bank |  |  | 110,887 |  |  |  | 14.2 |  |  |  | 82,089 |  |  |  | 10.50 |  |  |  | 78,180 |  |  |  | 10.0 |
Iowa State Savings Bank |  |  | 25,398 |  |  |  | 15.5 |  |  |  | 17,210 |  |  |  | 10.50 |  |  |  | 16,390 |  |  |  | 10.0 |
Reliance State Bank |  |  | 28,385 |  |  |  | 12.4 |  |  |  | 24,103 |  |  |  | 10.50 |  |  |  | 22,955 |  |  |  | 10.0 |
State Bank & Trust |  |  | 22,011 |  |  |  | 14.7 |  |  |  | 15,716 |  |  |  | 10.50 |  |  |  | 14,968 |  |  |  | 10.0 |
United Bank & Trust |  |  | 12,633 |  |  |  | 15.1 |  |  |  | 8,759 |  |  |  | 10.50 |  |  |  | 8,342 |  |  |  | 10.0 |
Tier 1 capital (to risk- weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 199,069 |  |  |  | 13.0 | % |  | $ | 129,823 |  |  |  | 8.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,990 |  |  |  | 12.1 |  |  |  | 10,511 |  |  |  | 8.50 |  |  |  | 9,893 |  |  |  | 8.0 | %
First National Bank |  |  | 101,976 |  |  |  | 13.0 |  |  |  | 66,453 |  |  |  | 8.50 |  |  |  | 62,544 |  |  |  | 8.0 |
Iowa State Savings Bank |  |  | 24,113 |  |  |  | 14.7 |  |  |  | 13,932 |  |  |  | 8.50 |  |  |  | 13,112 |  |  |  | 8.0 |
Reliance State Bank |  |  | 25,647 |  |  |  | 11.2 |  |  |  | 19,512 |  |  |  | 8.50 |  |  |  | 18,364 |  |  |  | 8.0 |
State Bank & Trust |  |  | 20,392 |  |  |  | 13.6 |  |  |  | 12,723 |  |  |  | 8.50 |  |  |  | 11,974 |  |  |  | 8.0 |
United Bank & Trust |  |  | 11,677 |  |  |  | 14.0 |  |  |  | 7,090 |  |  |  | 8.50 |  |  |  | 6,673 |  |  |  | 8.0 |
Tier 1 capital (to average- assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 199,069 |  |  |  | 9.1 | % |  | $ | 87,392 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,990 |  |  |  | 8.7 |  |  |  | 6,868 |  |  |  | 4.00 |  |  |  | 8,585 |  |  |  | 5.0 | %
First National Bank |  |  | 101,976 |  |  |  | 8.9 |  |  |  | 45,582 |  |  |  | 4.00 |  |  |  | 56,978 |  |  |  | 5.0 |
Iowa State Savings Bank |  |  | 24,113 |  |  |  | 9.3 |  |  |  | 10,423 |  |  |  | 4.00 |  |  |  | 13,029 |  |  |  | 5.0 |
Reliance State Bank |  |  | 25,647 |  |  |  | 8.5 |  |  |  | 12,001 |  |  |  | 4.00 |  |  |  | 15,001 |  |  |  | 5.0 |
State Bank & Trust |  |  | 20,392 |  |  |  | 9.1 |  |  |  | 8,932 |  |  |  | 4.00 |  |  |  | 11,165 |  |  |  | 5.0 |
United Bank & Trust |  |  | 11,677 |  |  |  | 8.9 |  |  |  | 5,274 |  |  |  | 4.00 |  |  |  | 6,592 |  |  |  | 5.0 |
Common equity tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 199,069 |  |  |  | 13.0 | % |  | $ | 106,913 |  |  |  | 7.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,990 |  |  |  | 12.1 |  |  |  | 8,656 |  |  |  | 7.00 |  |  |  | 8,038 |  |  |  | 6.5 | %
First National Bank |  |  | 101,976 |  |  |  | 13.0 |  |  |  | 54,726 |  |  |  | 7.00 |  |  |  | 50,817 |  |  |  | 6.5 |
Iowa State Savings Bank |  |  | 24,113 |  |  |  | 14.7 |  |  |  | 11,473 |  |  |  | 7.00 |  |  |  | 10,654 |  |  |  | 6.5 |
Reliance State Bank |  |  | 25,647 |  |  |  | 11.2 |  |  |  | 16,069 |  |  |  | 7.00 |  |  |  | 14,921 |  |  |  | 6.5 |
State Bank & Trust |  |  | 20,392 |  |  |  | 13.6 |  |  |  | 10,477 |  |  |  | 7.00 |  |  |  | 9,729 |  |  |  | 6.5 |
United Bank & Trust |  |  | 11,677 |  |  |  | 14.0 |  |  |  | 5,839 |  |  |  | 7.00 |  |  |  | 5,422 |  |  |  | 6.5 |
The Company and the Banks are subject to the rules of the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules include the implementation of a 2.5 percent capital conservation buffer that is added to the minimum requirements for capital adequacy purposes. A banking organization with a capital conservation buffer of less than the required amount will be subject to limitations on capital distributions, including dividend payments, and certain discretionary bonus payments to executive officers. At December 31, 2023 and 2022, the capital ratios for the Company and the Banks were sufficient to meet the conservation buffer. Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by the Banks to the Company. Dividends paid by each Bank to the Company would be prohibited if the effect thereof would cause the Bank’s capital to be reduced below applicable minimum capital requirements. Management believes that these restrictions currently do not have a significant impact on the Company.

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