Note 6 - Renewable Energy Tax Credit Investment	6 Months Ended
Jun. 30, 2024
Notes to Financial Statements
Renewable Energy Tax Credit Investment [Text Block]	6. Renewable Energy Tax Credit Investment On April 17, 2024 and April 21, 2023, the Bank entered into agreements to invest in investment tax credits generated by a solar energy producing facilities through limited liability companies. At June 30, 2024 and December 31, 2023, the balance of the Bank’s investments in the limited liability companies was $1.5 million and $306,000, respectively, and was reflected in other assets on the consolidated balance sheets. The unfunded commitment related to the solar energy tax credit investments was $2.0 million at June 30, 2024 and is reflected in other liabilities on the consolidated balance sheets. The Bank expects to fulfill the commitment as capital calls are made by December 31, 2024. The Bank had fully funded its commitment in the solar energy tax credit investment at December 31, 2023. The investment is accounted for using the proportional amortization method. During the three month period ended June 30, 2024, the Bank recognized amortization expense of $337,000 as a component of income tax expense on the consolidated statements of income. Additionally, during the three month period ended June 30, 2024, the Bank recognized income tax credits and other income tax benefits from its solar energy tax credit investment of $425,000, which was included in income tax expense on the consolidated statements of income. During the six month period ended June 30, 2024, the Bank recognized amortization expense of $842,000 as a component of income tax expense on the consolidated statements of income. Additionally, during the six month period ended June 30, 2024, the Bank recognized income tax credits and other income tax benefits from its solar energy tax credit investment of $1.0 million, which was included in income tax expense on the consolidated statements of income. The Bank did not recognize any amortization, income tax credits or other income tax benefits related to its solar energy tax credit investments during the three and six months ended June 30, 2023.

Note 6 - Renewable Energy Tax Credit Investment

6 Months Ended

Jun. 30, 2024

Renewable Energy Tax Credit Investment [Text Block]

6. Renewable Energy Tax Credit Investment

On April 17, 2024 and April 21, 2023, the Bank entered into agreements to invest in investment tax credits generated by a solar energy producing facilities through limited liability companies. At June 30, 2024 and December 31, 2023, the balance of the Bank’s investments in the limited liability companies was $1.5 million and $306,000, respectively, and was reflected in other assets on the consolidated balance sheets. The unfunded commitment related to the solar energy tax credit investments was $2.0 million at June 30, 2024 and is reflected in other liabilities on the consolidated balance sheets. The Bank expects to fulfill the commitment as capital calls are made by December 31, 2024. The Bank had fully funded its commitment in the solar energy tax credit investment at December 31, 2023.

The investment is accounted for using the proportional amortization method. During the three month period ended June 30, 2024, the Bank recognized amortization expense of $337,000 as a component of income tax expense on the consolidated statements of income. Additionally, during the three month period ended June 30, 2024, the Bank recognized income tax credits and other income tax benefits from its solar energy tax credit investment of $425,000, which was included in income tax expense on the consolidated statements of income. During the six month period ended June 30, 2024, the Bank recognized amortization expense of $842,000 as a component of income tax expense on the consolidated statements of income. Additionally, during the six month period ended June 30, 2024, the Bank recognized income tax credits and other income tax benefits from its solar energy tax credit investment of $1.0 million, which was included in income tax expense on the consolidated statements of income. The Bank did not recognize any amortization, income tax credits or other income tax benefits related to its solar energy tax credit investments during the three and six months ended June 30, 2023.