Note 11 - Shareholders' Equity

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Equity [Text Block]

Note 11. Shareholders’ Equity

(in thousands, except share data)

The following summarizes the activity in the capital structure of the Company:

								Accumulated
	Number				Additional			Other
	of Shares		Common		Paid-In			Comprehensive			Retained
	Issued		Stock		Capital			(Loss) Income			Earnings			Total
Balance, January 1, 2023		5,603,570	$	1,122	$	18,448		$	(83,070	)	$	102,525		$	39,025
FASB ASU 2016-13 adoption adjustment												(984	)		(984	)
Net income		-		-		-			-			1,140			1,140
Dividends paid ($0.24 per share)		-		-		-			-			(1,346	)		(1,346	)
Restricted stock granted		3,868		-		-			-			-			-
Stock compensation expense		-		-		40			-			-			40
Other comprehensive loss, net		-		-		-			3,248			-			3,248
Balance, March 31, 2023		5,607,438	$	1,122	$	18,488		$	(79,822	)	$	101,335		$	41,123
Net income		-		-		-			-			300			300
Dividends paid ($0.16 per share)		-		-		-			-			(898	)		(898	)
Restricted stock granted		9,000		1		(1	)		-			-			-
Stock compensation expense		-		-		32			-			-			32
Other comprehensive loss, net		-		-		-			(416	)		-			(416	)
Balance, June 30, 2023		5,616,438	$	1,123	$	18,519		$	(80,238	)	$	100,737		$	40,141
Net income		-		-		-			-			1,207			1,207
Dividends paid ($0.16 per share)		-		-		-			-			(899	)		(899	)
Stock compensation expense		-		-		35			-			-			35
Other comprehensive income, net		-		-		-			(6,139	)		-			(6,139	)
Balance, September 30, 2023		5,616,438	$	1,123	$	18,554		$	(86,377	)	$	101,045		$	34,345

								Accumulated
	Number				Additional			Other
	of Shares		Common		Paid-In			Comprehensive			Retained
	Issued		Stock		Capital			Income (Loss)			Earnings			Total
Balance, January 1, 2022		5,595,320	$	1,120	$	18,293		$	(11,795	)	$	98,282		$	105,900
Net income		-		-		-			-			2,036			2,036
Dividends paid ($0.24 per share)		-		-		-			-			(1,343	)		(1,343	)
Stock compensation expense		-		-		39			-			-			39
Other comprehensive loss, net		-		-		-			(43,682	)		-			(43,682	)
Balance, March 31, 2022		5,595,320	$	1,120	$	18,332		$	(55,477	)	$	98,975		$	62,950
Net income		-		-		-			-			2,541			2,541
Dividends paid ($0.24 per share)		-		-		-			-			(1,345	)		(1,345	)
Restricted stock granted		8,250		1		(1	)		-			-			-
Stock compensation expense		-		-		39			-			-			39
Other comprehensive income, net		-		-		-			(38,259	)		-			(38,259	)
Balance, June 30, 2022		5,603,570		1,121		18,370			(93,736	)		100,171			25,926
Net income		-		-		-			-			2,580			2,580
Dividends paid ($0.24 per share)		-		-		-			-			(1,345	)		(1,345	)
Stock compensation expense		-		-		39			-			-			39
Other comprehensive loss, net		-		-		-			5,437			-			5,437
Balance, September 30, 2022		5,603,570	$	1,121	$	18,409		$	(88,299	)	$	101,406		$	32,637