XML 19 R10.htm IDEA: XBRL DOCUMENT v3.22.1
Noncontrolling Interest
3 Months Ended
Mar. 31, 2022
Noncontrolling Interest [Abstract]  
Noncontrolling Interest

Note 3 – Noncontrolling Interest

In 2013, the Company’s subsidiary bank issued a total of $10.7 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B and Series C. The preferred stock qualifies as Tier 1 capital at the bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income.