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Note 17 - Subsequent Events | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Subsequent Events [Text Block] | NOTE 17 – SUBSEQUENT EVENTS In January, 2023, the Company closed two branch offices. One branch office location is under contract for sale to close in the second quarter of 2023. The remaining branch office location is under consideration for acquisition by a local governmental unit at the Company’s offering price; however, no firm contract for sale has been executed. The Company will evaluate the accounting treatment of these facilities closures and the status of asset dispositions as of March 31, 2023. The Company received notice of events occurring in February 2023 that are expected to disrupt the timely repayment of a U.S. Government finance transaction, within our commercial loans and leases – government equipment finance portfolio, with aggregate principal balance of $8.4 million as of December 31, 2022. After evaluation of the known circumstances, the Company concluded that the collection of principal and interest is reasonably assured. The Company downgraded the loan to a classification of Substandard to reflect the increased risk. The Company received notice in February 2023 of potential events that may disrupt the timely repayment of a U.S. Government finance transaction, within our commercial loans and leases – government equipment finance portfolio, with aggregate principal balance of $10.5 million as of December 31, 2022. After evaluation of the known circumstances, the Company concluded that the collection of principal and interest is reasonably assured. The Company downgraded the loan to a classification of Special Mention to reflect the increased risk. The Company will continue to evaluate all facts and circumstances with respect to these credit exposures to determine the appropriate credit risk rating and accounting treatment in accordance with ASC Topic 310 - Receivables and ASC Topic 326 - Credit Losses.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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