XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.26.1

Note 11 - Leases | 6 Months Ended
--- | ---
Jun. 30, 2026
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | 11. LEASES The Company leases nine branch and administrative locations under operating leases expiring on various dates through 2035. Leases with an initial term of 12 months or less are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term. The Company had no financing leases as of June 30, 2026. Most leases include options to renew, with renewal terms that can extend the lease term from 3 to 10 years. The exercise of lease renewal options is at the Company’s sole discretion. Most leases are currently in the extension period. For the remaining leases with options to renew, the Company has not included the extended lease terms in the calculation of lease liabilities as the options are not reasonably certain of being exercised. Certain lease agreements include rental payments that are adjusted periodically for inflation. The Company's lease agreements do not contain any residual value guarantees or restrictive covenants. The Company uses its FHLB advance fixed rates, which are its incremental borrowing rates for secured borrowings, as the discount rates to calculate lease liabilities. The Company had right-of-use assets totaling $5,202,000 and $5,393,000 as of June 30, 2026 and December 31, 2025, respectively. Right-of-use assets are included in Interest receivable and other assets on the condensed consolidated balance sheets. The Company had lease liabilities totaling $5,684,000 and $5,795,000 as of June 30, 2026 and December 31, 2025, respectively. Lease liabilities are included in Interest payable and other liabilities on the condensed consolidated balance sheets. The Company recognized lease expense totaling $293,000 and $283,000 for the three-month periods ended June 30, 2026 and 2025, respectively, and $585,000 and $567,000 for the six-month periods ended June 30, 2026 and 2025, respectively. Lease expense includes operating lease costs, short-term lease costs and variable lease costs. Lease expense is included in occupancy and equipment expense on the condensed consolidated statements of income. The table below summarizes the maturity of remaining lease liabilities at June 30, 2026:
(in thousands) |  | June 30, 2026 |
2026 (remaining 6 months) |  | $ | 550 |
2027 |  |  | 1,102 |
2028 |  |  | 1,149 |
2029 |  |  | 1,103 |
2030 |  |  | 777 |
2031 and thereafter |  |  | 1,740 |
Total lease payments |  |  | 6,421 |
Less: interest |  |  | (737 | )
Present value of lease liabilities |  | $ | 5,684 |
The following table presents supplemental cash flow information related to leases for the three and six months ended June 30, 2026 and 2025:
|  | Three months ended |  |  | Six months ended |
|  | June 30, |  |  | June 30, |
(in thousands) |  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 273 |  |  | $ | 262 |  |  | $ | 551 |  |  | $ | 523 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 344 |  |  | $ | — |  |  | $ | 344 |  |  | $ | — |
The following table presents the weighted average operating lease term and discount rate as of June 30, 2026 and December 31, 2025:
|  | June 30, 2026 |  |  | December 31, 2025 |
Weighted-average remaining lease term – operating leases, in years |  |  | 6.11 |  |  |  | 6.52 |
Weighted-average discount rate – operating leases |  |  | 3.60 | % |  |  | 3.51 | %

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration