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Note 3 - Acquisition Activity (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

ASSETS					LIABILITIES
Cash and due from banks		$	52,524		Deposits
Investment securities, available for sale			-		Non-interest bearing		$	32,095
Certificate of deposit in other financial institutions			245		NOW accounts			63,639
					Savings and money market			184,149
Total Loans			450,757		Certificates of deposits			195,153
					Total Deposits			475,036
Premises and equipment, net			13,896
FHLB stock			1,303		Interest payable			75
Goodwill			11,506		Other liabilities			11,228
Core deposit intangible			3,220
Interest receivable			1,836
Other assets			7,758
Total assets purchased		$	543,045
Common shares issued			37,981
Cash paid			18,725
Total purchase price		$	56,706		Total liabilities assumed		$	486,339

Business Acquisition, Pro Forma Information [Table Text Block]

		For the three months ended				For the three months ended				For the six months ended				For the six months ended
(in thousands)		June 30, 2022				June 30, 2021				June 30, 2022				June 30, 2021
Selected Financial Data
Interest income		$	17,740			$	17,263			$	35,329			$	34,654
Interest expense			(442	)			(998	)			(902	)			(2,189	)
Recovery of (provision for) loan losses			-				(816	)			-				(1,094	)
Non-interest income			2,896				3,902				6,179				8,418
Non-interest expense (1)			(15,176	)			(13,831	)			(29,573	)			(26,776	)
Income before provision for income taxes			5,018				5,520				11,033				13,013
Income tax expense			(587	)			(639	)			(1,619	)			(1,812	)
Net income		$	4,431			$	4,881			$	9,414			$	11,201
Earnings per common share:
Basic		$	1.04			$	1.40			$	2.29			$	3.22
Diluted		$	1.04			$	1.40			$	2.28			$	3.22

Business Combination, Separately Recognized Transactions [Table Text Block]

(in thousands)		Six months ended
Noninterest expense:		June 30, 2022
Compensation and benefits		$	132
Data processing			1,929
Marketing			135
Other			656
Period merger expense		$	2,852

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
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- Definition

Tabular disclosure of transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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