Note 14 - Subsequent Events

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

Note

14.

Subsequent Events

The CARES Act provides for Paycheck Protection Program ("PPP") loans to be made by banks to small businesses impacted by COVID-

19,

to cover payroll and other operating expenses. Loans extended under the PPP are fully guaranteed by the U.S. Small Business Administration (SBA). Subsequent to

March 31, 2020,

the Company did

not

approve any PPP loans.

Section

4013

of the CARES Act also allows financial institutions to grant short term payment relief to borrowers impacted by COVID-

19

and permits a financial institution to elect to suspend troubled debt restructuring accounting for relief granted under the Act. Subsequent to

March 31, 2020

and through

June 8, 2020,

the Company received approximately

240

additional requests for payment relief on loan balances totaling approximately

$219

million, predominately for commercial real estate loans and commercial industrial loans. The Company continues to thoroughly evaluate incoming deferral requests and if appropriate, will grant payment deferrals considering regulatory guidance. These deferrals are

not

considered troubled debt restructurings based on section

4013

of the CARES Act and interagency guidance issued in

March

of

2020.