Note 23 - Renewable Energry Tax Credit Investment	12 Months Ended
Dec. 31, 2023
Notes to Financial Statements
Renewable Energy Tax Credit Investment [Text Block]	(23) RENEWABLE ENERGRY TAX CREDIT INVESTMENT On April 21, 2023, the Bank entered into an agreement to invest in investment tax credits generated by a solar energy producing facility through a limited liability company. At December 31, 2023, the balance of the Bank’s investment was $306,000, and is reflected in other assets on the consolidated balance sheets. The Bank had fully funded its commitment in the solar energy tax credit investment at December 31, 2023. In addition, in order to facilitate the loan to be obtained by the entity constructing the qualified solar energy producing facility, the Bank has obtained a $2.0 million standby letter of credit through the FHLB for the Bank’s total committed investment. The letter of credit was issued June 2, 2023 and expires April 30, 2024. The investment is accounted for using the proportional amortization method. During 2023, the Bank recognized amortization expense of $1.7 million, which was included in income tax expense on the consolidated statements of income. Additionally, during 2023, the Bank recognized tax credits and other tax benefits from its solar energy tax credit investment of $1.8 million, which was included in income tax expense on the consolidated statements of income.

Note 23 - Renewable Energry Tax Credit Investment

12 Months Ended

Dec. 31, 2023

Renewable Energy Tax Credit Investment [Text Block]

(23) RENEWABLE ENERGRY TAX CREDIT INVESTMENT

On April 21, 2023, the Bank entered into an agreement to invest in investment tax credits generated by a solar energy producing facility through a limited liability company. At December 31, 2023, the balance of the Bank’s investment was $306,000, and is reflected in other assets on the consolidated balance sheets. The Bank had fully funded its commitment in the solar energy tax credit investment at December 31, 2023. In addition, in order to facilitate the loan to be obtained by the entity constructing the qualified solar energy producing facility, the Bank has obtained a $2.0 million standby letter of credit through the FHLB for the Bank’s total committed investment. The letter of credit was issued June 2, 2023 and expires April 30, 2024.

The investment is accounted for using the proportional amortization method. During 2023, the Bank recognized amortization expense of $1.7 million, which was included in income tax expense on the consolidated statements of income. Additionally, during 2023, the Bank recognized tax credits and other tax benefits from its solar energy tax credit investment of $1.8 million, which was included in income tax expense on the consolidated statements of income.