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Note 5 - Acquisition Activity (Tables) | 9 Months Ended
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Sep. 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 nine months ended |  |  | For the nine months ended |
(in thousands) |  | September 30, 2023 |  |  | September 30, 2022 |  |  | September 30, 2023 |  |  | September 30, 2022 |
Selected Financial Data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 21,778 |  |  | $ | 18,539 |  |  | $ | 63,527 |  |  | $ | 53,868 |
Interest expense |  |  | (8,645 | ) |  |  | (1,032 | ) |  |  | (21,687 | ) |  |  | (1,934 | )
Provision for loan losses |  |  | (244 | ) |  |  | - |  |  |  | (1,246 | ) |  |  | - |
Non-interest income |  |  | 2,397 |  |  |  | 2,630 |  |  |  | 8,011 |  |  |  | 8,809 |
Non-interest expense (1) |  |  | (13,493 | ) |  |  | (15,010 | ) |  |  | (41,715 | ) |  |  | (44,583 | )
Income before provision for income taxes |  |  | 1,793 |  |  |  | 5,127 |  |  |  | 6,890 |  |  |  | 16,160 |
Income tax expense |  |  | 398 |  |  |  | (571 | ) |  |  | (21 | ) |  |  | (2,190 | )
Net income |  | $ | 2,191 |  |  | $ | 4,556 |  |  | $ | 6,869 |  |  | $ | 13,970 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.52 |  |  | $ | 1.07 |  |  | $ | 1.60 |  |  | $ | 3.36 |
Diluted |  | $ | 0.51 |  |  | $ | 1.07 |  |  | $ | 1.60 |  |  | $ | 3.35 |
Business Combination, Separately Recognized Transactions [Table Text Block] |
(in thousands) |  | Nine months ended |
Noninterest expense: |  | September 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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