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Note 5 - Loans Receivable (Tables)
6 Months Ended
Jun. 30, 2024
Notes Tables  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

(Dollars in thousands)

        
  

June 30, 2024

  

December 31, 2023

 

Loans secured by real estate:

        

Residential real estate

 $475,371  $484,948 

Home equity

  48,435   46,599 

Commercial real estate

  529,421   503,202 

Construction and land development

  88,699   115,227 

Multifamily

  219,841   219,917 

Total loans secured by real estate

  1,361,767   1,369,893 

Commercial business

  98,402   97,386 

Consumer

  611   610 

Manufactured homes

  28,721   30,845 

Government

  14,014   10,021 

Loans receivable

  1,503,515   1,508,755 

Add (less):

        

Net deferred loan origination costs

  3,053   3,705 

Loan clearing/(unapplied) funds

  (171)  135 

Loans receivable, net of deferred fees and costs..

 $1,506,398  $1,512,595 
Financing Receivable, Past Due [Table Text Block]

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater Than 90 Days Past Due and Accruing

  

Total Past Due and Accruing

  

Current

  

Accruing Loans

  

Non-accrual Loans

  

Total Loans Receivable

 

June 30, 2024

                                

Residential real estate

 $5,796  $1,004  $93  $6,893  $465,983  $472,877  $2,494  $475,371 

Home equity

  80   4   -   84   47,901   47,984   451   48,435 

Commercial real estate

  4,006   189   201   4,396   522,514   526,910   2,511   529,421 

Construction and land development

  1,038   -   -   1,038   87,661   88,699   -   88,699 

Multifamily

  4,033   915   -   4,948   211,815   216,763   3,078   219,841 

Commercial business

  150   116   -   265   95,592   95,857   2,545   98,402 

Consumer

  -   -   -   -   611   611   -   611 

Manufactured homes

  247   215   -   462   28,259   28,721   -   28,721 

Government

  -   -   -   -   14,014   14,014   -   14,014 

Total

 $15,349  $2,443  $294  $18,086  $1,474,350  $1,492,436  $11,079  $1,503,515 
                                 

December 31, 2023

                                

Residential real estate

 $5,857  $4,362  $1,131  $11,350  $471,905  $483,255  $1,693  $484,948 

Home equity

  226   18   -   244   45,887   46,131   468   46,599 

Commercial real estate

  3,168   262   712   4,142   498,227   502,369   833   503,202 

Construction and land development

  2,523   -   -   2,523   112,704   115,227   -   115,227 

Multifamily

  5,333   -   -   5,333   210,869   216,202   3,715   219,917 

Commercial business

  105   29   -   134   94,355   94,489   2,897   97,386 

Consumer

  12   -   -   12   596   608   2   610 

Manufactured homes

  634   379   -   1,013   29,832   30,845   -   30,845 

Government

  -   -   -   -   10,021   10,021   -   10,021 

Total

 $17,858  $5,050  $1,843  $24,751  $1,474,396  $1,499,147  $9,608  $1,508,755 
Financing Receivable Credit Quality Indicators [Table Text Block]

June 30, 2024

 

2024

  

2023

  

2022

  

2021

  

2020

  

Prior

  

Revolving

  

Revolving

Converted to

Term

  

Total

 

Total Loans Receivable

 $59,052  $148,865  $312,351  $320,044  $222,859  $348,625  $89,980  $1,741  $1,503,515 

Total current period gross charge-off

 $(44) $-  $-  $-  $-  $(65) $-  $-  $(109)
                                     

Residential real estate

                                    

Pass (1-6)

 $6,131  $26,332  $94,478  $103,636  $108,437  $127,982  $2,003  $-  $469,000 

Special Mention (7)

  -   195   368   660   408   1,757   -   -   3,387 

Substandard (8)

  -   205   891   149   576   1,163   -   -   2,984 

Total

 $6,131  $26,732  $95,737  $104,445  $109,421  $130,903  $2,003  $-  $475,371 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Home equity

                                    

Pass (1-6)

 $161  $74  $108  $116  $6  $2,824  $43,839  $287  $47,417 

Special Mention (7)

  -   10   -   -   4   15   530   -   559 

Substandard (8)

  -   -   148   -   -   67   89   156   460 

Total

 $161  $84  $257  $116  $10  $2,906  $44,458  $443  $48,435 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Commercial real estate

                                    

Pass (1-6)

 $17,181  $63,455  $126,214  $97,321  $55,651  $158,310  $2,765  $-  $520,896 

Special Mention (7)

  493   -   -   2,406   422   2,492   201   -   6,014 

Substandard (8)

  -   -   909   -   220   1,256   126   -   2,511 

Total

 $17,675  $63,455  $127,123  $99,726  $56,293  $162,057  $3,092  $-  $529,421 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Construction and land development

                                 

Pass (1-6)

 $20,911  $37,868  $9,609  $9,098  $403  $8  $3,115  $1,298  $82,309 

Special Mention (7)

  -   -   -   1,725   2,497   -   -   -   4,222 

Substandard (8)

  -   365   -   1,803   -   -   -   -   2,168 

Total

 $20,911  $38,232  $9,609  $12,626  $2,900  $8  $3,115  $1,298  $88,699 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Multifamily

                                    

Pass (1-6)

 $-  $9,710  $61,191  $76,783  $39,251  $24,351  $565  $-  $211,852 

Special Mention (7)

  -   -   794   3,012   465   121   -   -   4,392 

Substandard (8)

  -   -   -   1,358   1,536   703   -   -   3,597 

Total

 $-  $9,710  $61,985  $81,153  $41,252  $25,175  $565  $-  $219,841 

Current period gross charge-off

  -   -   -   -   -   (65)  -   -   (65)
                                     

Commercial business

                                    

Pass (1-6)

 $7,050  $10,366  $11,920  $8,154  $4,529  $15,111  $36,318  $-  $93,449 

Special Mention (7)

  -   43   1,038   49   -   850   429   -   2,408 

Substandard (8)

  -   37   1,080   223   191   1,014   -   -   2,545 

Total

 $7,050  $10,446  $14,038  $8,425  $4,720  $16,976  $36,747  $-  $98,402 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Consumer

                                    

Pass (1-6)

 $238  $206  $58  $71  $2  $36  $-  $-  $611 

Substandard (8)

  -   -   -   -   -   -   -   -   - 

Total

 $238  $206  $58  $71  $2  $36  $-  $-  $611 

Current period gross charge-off

  (44)  -   -   -   -   -   -   -   (44)
                                     

Manufactured homes

                                    

Pass (1-6)

 $-  $-  $1,909  $12,137  $8,261  $6,414  $-  $-  $28,721 

Substandard (8)

  -   -   -   -   -   -   -   -   - 

Total

 $-  $-  $1,909  $12,137  $8,261  $6,414  $-  $-  $28,721 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Government

                                    

Pass (1-6)

 $6,885  $-  $1,635  $1,344  $-  $4,150  $-  $-  $14,014 

Total

 $6,885  $-  $1,635  $1,344  $-  $4,150  $-  $-  $14,014 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 

December 31, 2023

 

2023

  

2022

  

2021

  

2020

  

2019

  

Prior

  

Revolving

  

Revolving Converted to Term

  

Total

 

Total Loans Receivable

 $148,105  $323,820  $321,183  $234,861  $108,683  $274,027  $94,893  $3,183  $1,508,755 

Total current period gross charge-off

 $-  $(40) $-  $(25) $(41) $(909) $(27) $-   (1,042)
                                     

Residential real estate

                                    

Pass (1-6)

 $20,740  $97,671  $106,778  $115,001  $23,873  $113,987  $1,716  $-  $479,766 

Special Mention (7)

  405   -   473   173   431   1,602   -   -   3,084 

Substandard (8)

  -   786   152   471   217   472   -   -   2,098 

Total

 $21,145  $98,457  $107,403  $115,645  $24,521  $116,061  $1,716  $-  $484,948 

Current period gross charge-off

  -   (40)  -   (25)  (39)  (893)  -   -   (997)
                                     

Home equity

                                    

Pass (1-6)

 $110  $114  $101  $14  $61  $2,051  $42,801  $700  $45,952 

Special Mention (7)

  -   -   -   -   4   31   70   63   168 

Substandard (8)

  -   161   -   -   -   67   251   -   479 

Total

 $110  $275  $101  $14  $65  $2,149  $43,122  $763  $46,599 

Current period gross charge-off

  -   -   -   -   -   (16)  (27)  -   (43)
                                     

Commercial real estate

                                    

Pass (1-6)

 $52,880  $127,607  $90,108  $55,236  $56,255  $108,489  $2,649  $-  $493,224 

Special Mention (7)

  -   69   2,429   1,274   1,123   2,397   142   -   7,434 

Substandard (8)

  -   -   -   230   -   2,314   -   -   2,544 

Total

 $52,880  $127,676  $92,537  $56,740  $57,378  $113,200  $2,791  $-  $503,202 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Construction and land development

                                    

Pass (1-6)

 $48,518  $24,948  $13,411  $1,732  $4,284  $473  $12,539  $2,420  $108,325 

Special Mention (7)

  365   76   4,205   2,256   -   -   -   -   6,902 

Substandard (8)

  -   -   -   -   -   -   -   -   - 

Total

 $48,883  $25,024  $17,616  $3,988  $4,284  $473  $12,539  $2,420  $115,227 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Multifamily

                                    

Pass (1-6)

 $9,333  $53,493  $78,122  $41,773  $13,156  $19,609  $186  $-  $215,672 

Substandard (8)

  -   -   1,666   1,562   -   1,017   -   -   4,245 

Total

 $9,333  $53,493  $79,788  $43,335  $13,156  $20,626  $186  $-  $219,917 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Commercial business

                                    

Pass (1-6)

 $13,110  $13,774  $9,327  $5,705  $4,105  $12,905  $33,954  $-  $92,880 

Special Mention (7)

  373   197   58   -   129   436   417   -   1,610 

Substandard (8)

  43   1,094   256   214   -   1,121   168   -   2,896 

Total

 $13,526  $15,065  $9,641  $5,919  $4,234  $14,462  $34,539  $-  $97,386 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Consumer

                                    

Pass (1-6)

 $338  $73  $108  $4  $14  $71  $-  $-  $608 

Substandard (8)

  -   -   -   2   -   -   -   -   2 

Total

 $338  $73  $108  $6  $14  $71  $-  $-  $610 

Current period gross charge-off

  -   -   -   -   (2)  -   -   -   (2)
                                     

Manufactured homes

                                    

Pass (1-6)

 $-  $1,942  $12,556  $9,214  $5,031  $2,102  $-  $-  $30,845 

Total

 $-  $1,942  $12,556  $9,214  $5,031  $2,102  $-  $-  $30,845 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
                                     

Government

                                    

Pass (1-6)

 $1,890  $1,815  $1,433  $-  $-  $4,883  $-  $-  $10,021 

Total

 $1,890  $1,815  $1,433  $-  $-  $4,883  $-  $-  $10,021 

Current period gross charge-off

  -   -   -   -   -   -   -   -   - 
Financing Receivable, Modified [Table Text Block]
  

For the three months ended June 30, 2024

 

(Dollars in thousands)

 

Payment

Delay

  

Term

Extension

  

Interest

Rate

Reduction

  

Combination Term

Extension and

Interest Rate

Reduction

  

% of Total

Segment

Financing

Receivables

 

Residential Real Estate

 $132  $241  $-  $-   0.08%

Total

 $132  $241  $-  $-   0.02%

(Dollars in thousands)

 

Current

  

30-59 Days

Past Due

  

60-89

Days Past

Due

  

Greater Than 90

Days Past Due

 

Residential Real Estate

 $241  $-  $132  $- 

Total

 $241  $-  $132  $- 
  

For the six months ended June 30, 2024

 

(Dollars in thousands)

 

Payment

Delay

  

Term

Extension

  

Interest

Rate

Reduction

  

Combination Term

Extension and

Interest Rate

Reduction

  

% of Total

Segment

Financing

Receivables

 

Residential Real Estate

 $132  $1,491  $-  $-   0.34%

Total

 $132  $1,491  $-  $-   0.11%

(Dollars in thousands)

 

Current

  

30-59 Days

Past Due

  

60-89

Days Past

Due

  

Greater Than 90

Days Past Due

 

Residential Real Estate

 $1,296  $195  $132  $- 

Total

 $1,296  $195  $132  $- 
  For the year ended December 31, 2023 

(Dollars in thousands)

 

Payment

Delay

  

Term

Extension

  

Interest

Rate

Reduction

  

Combination Term

Extension and

Interest Rate

Reduction

  

% of Total

Segment

Financing

Receivables

 

Residential Real Estate

 $-  $868  $-  $-   0.18%

Total

 $-  $868  $-  $-   0.06%

(Dollars in thousands)

 

Current

  

30-59 Days

Past Due

  

60-89

Days Past

Due

  

Greater Than 90

Days Past Due

 

Residential Real Estate

 $868  $-  $-  $- 

Total

 $868  $-  $-  $- 
Schedule of Accretable Yield from Financing Receivables [Table Text Block]

(dollars in thousands)

 

Total

 

2023

 $245 

2024

  431 

(dollars in thousands)

 

Total

 

Remainder of 2024

 $337 

2025

  652 

2026

  482 

2027

  311 

2028

  295 

2029 and thereafter

  2,696 

Total

 $4,773 
Financing Receivable, Allowance for Credit Loss [Table Text Block]

(Dollars in thousands)

 

Beginning Balance

  

Charge-offs

  

Recoveries

  

Provisions

  

Ending Balance

 
                     

Allowance for credit losses:

                    

Residential real estate

 $4,017  $-  $10  $270  $4,297 

Home equity

  737   -   -   (10)  727 

Commercial real estate

  7,256   -   2   (355)  6,903 

Construction and land development

  3,456   -   -   (389)  3,067 

Multifamily

  957   (65)  31   (44)  879 

Commercial business

  2,135   -   7   63   2,205 

Consumer

  6   (26)  5   20   5 

Manufactured homes

  173   -   -   (16)  157 

Government

  68   -   -   22   90 

Total

 $18,805  $(91) $55  $(439) $18,330 

(Dollars in thousands)

 

Beginning Balance

  

Charge-offs

  

Recoveries

  

Provisions

  

Ending Balance

 
                     

Allowance for credit losses:

                    

Residential real estate

 $5,068  $-  $11  $(225) $4,854 

Home equity

  643   -   -   37   680 

Commercial real estate

  7,119   (360)  1   271   7,031 

Construction and land development

  3,229   -   -   370   3,599 

Multifamily

  1,059   -   86   (125)  1,020 

Commercial business

  2,095   (368)  101   222   2,050 

Consumer

  64   (21)  3   11   57 

Manufactured homes

  216   -   -   (50)  166 

Government

  75   -   -   (25)  50 

Total

 $19,568  $(749) $202  $486  $19,507 

(Dollars in thousands)

 

Beginning Balance

  

Charge-offs

  

Recoveries

  

Provisions

  

Ending Balance

 
                     

Allowance for credit losses:

                    

Residential real estate

 $3,984  $-  $20  $293  $4,297 

Home equity

  698   -   -   29   727 

Commercial real estate

  7,045   -   2   (144)  6,903 

Construction and land development

  4,206   -   -   (1,139)  3,067 

Multifamily

  933   (65)  31   (20)  879 

Commercial business

  1,649   -   9   548   2,205 

Consumer

  7   (44)  6   36   5 

Manufactured homes

  181   -   -   (24)  157 

Government

  65   -   -   25   90 

Total

 $18,768  $(109) $68  $(397) $18,330 

(Dollars in thousands)

 

Beginning Balance

  

Adoption of ASC 326

  

PCD Gross-up

  

Charge-offs

  

Recoveries

  

Provisions

  

Ending Balance

 
                             

Allowance for credit losses:

                            

Residential real estate

 $3,021  $1,688  $535  $-  $63  $(453) $4,854 

Home equity

  410   99   29   -   -   142   680 

Commercial real estate

  5,784   1,003   443   (372)  1   172   7,031 

Construction and land development

  1,253   1,735   -   -   -   611   3,599 

Multifamily

  1,007   141   -   -   86   (214)  1,020 

Commercial business

  1,365   320   5   (443)  148   655   2,050 

Consumer

  57   5   17   (40)  6   12   57 

Manufactured homes

  -   112   -   -   -   54   166 

Government

  -   55   -   -   -   (5)  50 

Total

 $12,897  $5,158  $1,029  $(855) $304  $974  $19,507 
Schedule of Collateral Dependent Loans [Table Text Block]

(Dollars in thousands)

 

June 30, 2024

     
                         
  

Real Estate

  

Equipment/Inventory

  

Accounts Receivable

  

Other

  

Total

  

ACL Allocation

 

Commercial Business

  -   1,375   1,428   159   2,961   1,218 

Commercial Real Estate

  2,511   -   -   -   2,511   79 

Construction Land Development

  2,168   -   -   -   2,168   - 

Multifamily

  3,597   -   -   -   3,597   - 
  $8,276  $1,375  $1,428  $159  $11,237  $1,297 

(Dollars in thousands)

 

December 31, 2023

     
                         
  

Real Estate

  

Equipment/Inventory

  

Accounts Receivable

  

Other

  

Total

  

ACL Allocation

 

Residential Real Estate

 $30  $-  $-  $-  $-  $30 

Commercial Business

  -   1,583   1,557   192   3,332   738 

Commercial Real Estate

  2,541   -   -   -   2,541   53 

Multifamily

  4,244   -   -   -   4,244   85 
  $6,815  $1,583  $1,557  $192  $10,117  $906 
Financing Receivable, Nonaccrual [Table Text Block]

As of June 30, 2024

 

Nonaccrual with

No Allowance for

Credit Loss

  

Nonaccrual with

Allowance for

Credit Loss

  

Nonaccrual Loans

in Total

  

Loans Past Due

over 90 Days Still

Accruing

 

Residential real estate

 $770  $1,724   2,494  $93 

Home equity

  148   303   451   - 

Commercial real estate

  1,906   605   2,511   201 

Construction and land development

  -   -   -   - 

Multifamily

  3,078   -   3,078   - 

Commercial business

  1,397   1,148   2,545   - 

Consumer

  -   -   -   - 

Manufactured homes

  -   -   -   - 

Government

  -   -   -   - 

Total

 $7,298  $3,781  $11,079  $294 

As of December 31, 2023

 

Nonaccrual with

No Allowance for

Credit Loss

  

Nonaccrual with

Allowance for

Credit Loss

  

Nonaccrual Loans

in Total

  

Loans Past Due

over 90 Days Still

Accruing

 

Residential real estate

 $442  $1,251  $1,693  $1,131 

Home equity

  161   307   468   - 

Commercial real estate

  603   230   833   712 

Construction and land development

  -   -   -   - 

Multifamily

  2,357   1,358   3,715   - 

Commercial business

  1,724   1,173   2,897   - 

Consumer

  -   2   -   - 

Manufactured homes

  -   -   -   - 

Government

  -   -   -   - 

Total

 $5,287  $4,321  $9,608  $1,843 
Schedule of Changes in Liability for Credit Loss on Unfunded Commitments [Table Text Block]
  

Three months ended,

  

Three months ended,

 

(Dollars in thousands)

 

June 30, 2024

  

June 30, 2023

 

Balance, beginning of period

 $3,399  $3,108 

Adoption of ASC 326

  -   - 

Provision

  515   28 

Balance, end of period

 $3,914  $3,136 
  

Six months ended,

  

Six months ended,

 

(Dollars in thousands)

 

June 30, 2024

  

June 30, 2023

 

Balance, beginning of period

 $3,441  $3,108 

Adoption of ASC 326

  -   - 

Provision

  473   28 

Balance, end of period

 $3,914  $3,136