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Note 2 - Acquisition Activity (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

ASSETS
Cash and due from banks		$	52,524
Investment securities, available for sale			-
Certificate of deposit in other financial institutions			245
Total Loans			450,757
Premises and equipment, net			13,896
FHLB stock			1,303
Goodwill			11,286
Core deposit intangible			3,220
Interest receivable			1,836
Other assets			7,978
Total assets purchased		$	543,045
Common shares issued			37,981
Cash paid			18,725
Total purchase price		$	56,706

LIABILITIES
Deposits
Non-interest bearing		$	32,095
NOW accounts			63,639
Savings and money market			184,149
Certificates of deposits			195,153
Total Deposits			475,036
Interest payable			75
Other liabilities			11,228
Total liabilities assumed		$	486,339

Business Acquisition, Pro Forma Information [Table Text Block]

		For the twelve months ended				For the twelve months ended
(in thousands)		December 31, 2022				December 31, 2021
Selected Financial Data
Interest income		$	73,730			$	70,585
Interest expense			(4,987	)			(3,538	)
Recovery of (provision for) loan losses			-				(1,181	)
Non-interest income			11,648				16,607
Non-interest expense (1)			(60,228	)			(57,290	)
Income before provision for income taxes			20,163				25,183
Income tax expense			(2,235	)			(3,525	)
Net income		$	17,928			$	21,658
Earnings per common share:
Basic		$	4.29			$	6.23
Diluted		$	4.28			$	6.23

Business Combination, Separately Recognized Transactions [Table Text Block]

(in thousands)		Twelve months ended
Noninterest expense:		December 31, 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)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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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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