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Note Q - Acquisition of Corporate Trust Business
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Business Combination Disclosure [Text Block]

NOTE Q: ACQUISITION OF CORPORATE TRUST BUSINESS

On March 17, 2022, the bank subsidiary signed a definitive agreement with Trustmark National Bank (“Trustmark”) to acquire substantially all of the Trustmark’s corporate trust business for a purchase price of $650,000. This book of business was added to the bank subsidiary’s existing corporate trust portfolio in its Asset Management and Trust Services Department. The purchase was approved by the Federal Deposit Insurance Corporation and closed on August 15, 2022, during the third quarter of 2022.