Note 22 - Commitments -

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Commitments Disclosure [Text Block]

Note 22 – Commitments –

SBIC Capital Commitment

The SBIC is a program initiated by the SBA in 1958 to assist in the funding of small business loans. The program is a joint venture between investors with venture capital, the SBA, and small business borrowers. Investors are responsible for funding the first portion of the capital requirements, with the remaining requirement being funded by the SBA. The funds are then lent to small business borrowers.

The Bank has agreed to participate as an investor with McLarty Capital Partners SBIC, L.P. (“McLarty”), McLarty Capital Partners SBIC II, L.P. (“McLarty II”), Firmament Capital Partners SBIC III, L.P. (“Firmament”), Bluehenge Capital Secured Debt SBIC, L.P. (“Bluehenge”), Bluehenge Capital Secured Debt SBIC II, L.P. (“Bluehenge, II”), New Louisiana Angel Fund 2, LLC (“New Louisiana”) and Pharos Capital Partners IV-A, L.P. (“Pharos”). As part of the TCBI acquisition, the Bank acquired investments in and committed to invest further in Bluehenge Capital Secured Debt SBIC, L.P. (included with prior Bluehenge investments), Valesco Fund II, LP (“Valesco”) and GP Capital Partners, LP (“GP Capital”). Details of these commitments at December 31, 2022 are below.

	Total Capital				Remaining Unfunded
	Commitment		Capital Called		Capital Commitment
McLarty	$	2,000	$	1,802	$	198
McLarty II		2,500		2,222		278
Firmament		2,500		1,707		793
Bluehenge		2,500		2,312		188
Bluehenge, II		2,500		359		2,141
New Louisiana		50		50		-
Pharos		1,000		395		605
Valesco		1,000		737		263
GP Capital		1,000		316		684
	$	15,050	$	9,900	$	5,150

Fintech Fund Commitment

The Company has agreed to invest in certain Fintech funds. As part of the TCBI acquisition, the Company acquired investments in and committed to invest further in any remaining unfunded capital commitments in Work America Capital Fund I, LP and SBRE I, LLC. During the year ended December 31, 2022, SBRE I, LLC was fully redeemed. Details of these commitments at December 31, 2022 are below.

	Total Capital				Remaining Unfunded
	Commitment		Capital Called		Capital Commitment
BankTech Ventures, LP	$	500	$	110	$	390
Jam Fintop BankTech, LP		1,000		348		652
Ledyard Capital Managers, LLC		1,000		1,000		-
Mendon Ventures Banktech Fund I, LP		1,500		904		596
Castle Creek Launchpad Fund I, LP		1,500		236		1,264
Work America Capital Fund I, LP		700		700		-
	$	6,200	$	3,298	$	2,902

Federal Home Loan Bank Letters of Credit

The Bank had outstanding letters of credit on behalf of others from the FHLB of $173.7 million and $223.9 million at December 31, 2022 and 2021, respectively. The outstanding letters of credit as of December 31, 2022 are as follows:

Seven letters of credit totaling $146.5 million expire in January 2023.

One letter of credit of $403,000 expires in March 2023.

One letter of credit of $87,000 expires in May 2023.

One letter of credit of $197,000 expires in November 2023.

One letter of credit of $329,000 expires in December 2023.

One letter of credit of $22.8 million expires in April 2024.

One letter of credit totaling $3.3 million expires in August 2024.