XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 7 - Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 7 - LEASES The following table represents the classification of the Company's right of use and lease liabilities:
| Statement of Financial Condition Location |  | December 31, 2023 |  |  | December 31, 2022 |
Operating Lease Right of Use Asset: |  |  |  |  |  |  |  |  |
Gross carrying amount |  | $ | 7,671 |  |  | $ | 7,671 |
New lease obligation |  |  | 1,354 |  |  |  | — |
Accumulated amortization |  |  | (5,082 | ) |  |  | (3,964 | )
Net recorded value | Other assets |  | $ | 3,943 |  |  | $ | 3,707 |
Operating Lease Liabilities: |  |  |  |  |  |  |  |  |
Right of use lease obligations | Other liabilities |  | $ | 3,943 |  |  | $ | 3,707 |
Lease amortization expense was $1.1 million and $1.2 million for the years ended December 31, 2023 and 2022, respectively. At December 31, 2023, the weighted-average remaining lease term for the Company's operating leases was 5.8 years and the weighted-average discount rate used in the measurement of the Company's operating lease liabilities was 3.24%. For each operating lease, the discount rate is the FHLB fixed rate advance rate for the term most closely aligning with the remaining lease term at inception.
|  | For the year ended December 31, 2023 |  |  | For the year ended December 31, 2022 |
Lease cost: |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 1,118 |  |  | $ | 1,170 |
Short-term lease cost |  |  | 138 |  |  |  | 114 |
Sublease income |  |  | (25 | ) |  |  | (28 | )
Total lease cost |  | $ | 1,231 |  |  | $ | 1,256 |
Other information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 1,304 |  |  | $ | 1,296 |
Future minimum payments under non-cancellable operating leases with terms longer than 12 months, are as follows at December 31, 2023. Future minimum payments on shorter term leases are excluded as the amounts are insignificant.
Twelve months ending December 31, |  |  |  |
2024 |  | $ | 1,131 |
2025 |  |  | 992 |
2026 |  |  | 948 |
2027 |  |  | 322 |
2028 |  |  | 329 |
Thereafter |  |  | 1,071 |
Total future minimum operating lease payments |  |  | 4,793 |
Amounts representing interest |  |  | (850 | )
Present value of net future minimum operating lease payments |  | $ | 3,943 |

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