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Note 1 - Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Estimated Useful Lives of Assets Depreciation and amortization are calculated principally on an accelerated or straight-line basis over the estimated useful lives of the assets, or the shorter of the estimated useful life or lease term for leasehold improvements, as follows:

 

Buildings

 

10 to 39 years

Furniture and equipment

 

3 to 15 years

Leasehold improvements

 

5 to 30 years

Assumptions Used in Option Pricing Model

Year ended December 31,

 

2023

 

 

2022

 

 

2021

 

Risk free interest rate

 

 

3.64

%

 

 

1.25

%

 

 

0.20

%

Dividend yield

 

 

4.80

%

 

 

3.64

%

 

 

4.17

%

Volatility

 

 

20.36

%

 

 

22.68

%

 

 

21.14

%

Expected life (years)

 

 

8.35

 

 

 

4.05

 

 

 

4.03

 

Impact of Adoption The following table illustrates the impact of ASC 326:

January 1, 2023

 

 

As Reported under ASC 326

 

 

Pre-ASC 326 Adoption

 

 

Impact of ASC 326 Adoption

 

Assets:

 

 

 

 

 

 

 

 

Commercial loans:

 

 

 

 

 

 

 

 

Revolving real estate secured by 1-4 family properties

$

5,255

 

 

$

 

 

$

5,255

 

Retail loans:

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

105,524

 

 

 

105,654

 

 

 

(130

)

Construction-individual

 

130

 

 

 

 

 

 

130

 

Revolving home equity secured by 1-4 family properties

 

36,732

 

 

 

41,987

 

 

 

(5,255

)

Allowance for credit losses on loans (ACL):

 

 

 

 

 

 

 

 

Commercial:

 

 

 

 

 

 

 

 

Commercial and industrial

 

(1,246

)

 

 

(1,316

)

 

 

70

 

Construction and land development

 

(745

)

 

 

(755

)

 

 

10

 

Real estate secured by multi-family properties

 

(1,679

)

 

 

(995

)

 

 

(684

)

Real estate secured by owner-occupied properties

 

(1,175

)

 

 

(1,549

)

 

 

374

 

Real estate secured by other commercial properties

 

(1,330

)

 

 

(2,458

)

 

 

1,128

 

Revolving real estate secured by 1-4 family properties-business

 

(32

)

 

 

(25

)

 

 

(7

)

Real estate secured by 1st lien on 1-4 family properties-business

 

(1,700

)

 

 

(1,210

)

 

 

(490

)

Real estate secured by junior lien on 1-4 family properties-business

 

(16

)

 

 

(30

)

 

 

14

 

State and political subdivisions

 

(74

)

 

 

(94

)

 

 

20

 

Retail:

 

 

 

 

 

 

 

 

1-4 family residential mortgages

 

(486

)

 

 

(682

)

 

 

196

 

Construction-individual

 

(1

)

 

 

(1

)

 

 

 

Revolving home equity secured by 1-4 family properties-personal

 

(292

)

 

 

(299

)

 

 

7

 

Real estate secured by 1st lien on 1-4 family properties-personal

 

(72

)

 

 

(57

)

 

 

(15

)

Real estate secured by junior lien on 1-4 family properties-personal

 

(84

)

 

 

(55

)

 

 

(29

)

Student loans

 

(466

)

 

 

(454

)

 

 

(12

)

Overdrafts

 

(11

)

 

 

(8

)

 

 

(3

)

Other consumer

 

(33

)

 

 

(41

)

 

 

8

 

Unallocated

 

 

 

 

(502

)

 

 

502

 

Total ACL

 

(9,442

)

 

 

(10,531

)

 

 

1,089

 

Deferred tax assets

 

4,540

 

 

 

4,767

 

 

 

(227

)

Liabilities:

 

 

 

 

 

 

 

 

Allowance for credit losses on unused commitments

$

122

 

 

$

117

 

 

$

5

 

Equity:

 

 

 

 

 

 

 

 

Retained earnings

$

129,808

 

 

$

128,951

 

 

$

857