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Note 5 - Acquisition Activity (Tables) | 6 Months Ended
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Jun. 30, 2023
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 |  |  | 11,286 |  | Other liabilities |  |  | 11,228 |
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 |  | 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, 2023 |  |  | June 30, 2022 |  |  | June 30, 2023 |  |  | June 30, 2022 |
Selected Financial Data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 21,613 |  |  | $ | 17,740 |  |  | $ | 41,749 |  |  | $ | 35,329 |
Interest expense |  |  | (7,574 | ) |  |  | (442 | ) |  |  | (13,042 | ) |  |  | (902 | )
Provision for loan losses |  |  | (514 | ) |  |  | - |  |  |  | (1,002 | ) |  |  | - |
Non-interest income |  |  | 3,006 |  |  |  | 2,896 |  |  |  | 5,614 |  |  |  | 6,179 |
Non-interest expense (1) |  |  | (13,995 | ) |  |  | (15,176 | ) |  |  | (28,222 | ) |  |  | (29,573 | )
Income before provision for income taxes |  |  | 2,536 |  |  |  | 5,018 |  |  |  | 5,097 |  |  |  | 11,033 |
Income tax expense |  |  | (98 | ) |  |  | (587 | ) |  |  | (419 | ) |  |  | (1,619 | )
Net income |  | $ | 2,438 |  |  | $ | 4,431 |  |  | $ | 4,678 |  |  | $ | 9,414 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.57 |  |  | $ | 1.04 |  |  | $ | 1.10 |  |  | $ | 2.29 |
Diluted |  | $ | 0.57 |  |  | $ | 1.04 |  |  | $ | 1.10 |  |  | $ | 2.28 |
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 |

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- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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