Note 10 - Employee Benefits	9 Months Ended
Sep. 30, 2022
Notes to Financial Statements
Compensation and Employee Benefit Plans, Other than Share-Based Compensation [Text Block]	10. Employee Benefits *Bank-Owned Life Insurance (BOLI)* The Company has purchased single premium BOLI policies on certain officers. The policies are recorded at their cash surrender values. Increases in cash surrender values are included in non-interest income in the consolidated statements of income. As a result of the acquisition of Landmark, the Company added BOLI with a value of $7.2 million during 2021. The policies’ cash surrender value totaled $53.7 million and $52.7 million, respectively, as of September 30, 2022 and December 31, 2021 and is reflected as an asset on the consolidated balance sheets. For the nine months ended September 30, 2022 and 2021, the Company has recorded income of $965 thousand and $899 thousand, respectively. *Officer Life Insurance* In 2017, the Bank entered into separate split dollar life insurance arrangements (Split Dollar Agreements) with eleven officers. This plan provides each officer a specified death benefit should the officer die while in the Bank’s employ. The Bank paid the insurance premiums in March 2017 and the arrangements were effective in March 2017. In March 2019, the Bank entered into a new Split Dollar Agreement with one officer. In January 2021, the Bank entered into Split Dollar Agreements with fifteen officers. The Bank owns the policies and all cash values thereunder. Upon death of the covered employee, the agreed-upon amount of death proceeds from the policies will be paid directly to the insured’s beneficiary. As of September 30, 2022, the policies had total death benefits of $53.7 million of which $7.8 million would have been paid to the officer’s beneficiaries and the remaining $45.9 million would have been paid to the Bank. In addition, four executive officers have the opportunity to retain a split dollar benefit equal to two times their highest base salary after separation from service if the vesting requirements are met. As of September 30, 2022 and December 31, 2021, the Company had a balance in accrued expenses of $252 thousand and $200 thousand for the split dollar benefit. *Supplemental Executive Retirement plan (SERP)* On March 29, 2017, the Bank entered into separate supplemental executive retirement agreements (individually the “SERP Agreement”) with five officers, pursuant to which the Bank will credit an amount to a SERP account established on each participant’s behalf while they are actively employed by the Bank for each calendar month from March 1, 2017 until retirement. On March 20, 2019, the Bank entered into a SERP Agreement with one officer, pursuant to which the Bank will credit an amount to a SERP account established for the participant’s behalf while they are actively employed by the Bank for each calendar month from March 1, 2019 until normal retirement age. As a result of the acquisition of Landmark, the Company added $1.0 million in accrued SERP expenses to the consolidated balance sheets. As of September 30, 2022 and December 31, 2021, the Company had a balance in accrued expenses of $3.9 million and $3.6 million in connection with the SERP.

Note 10 - Employee Benefits

9 Months Ended

Sep. 30, 2022

Compensation and Employee Benefit Plans, Other than Share-Based Compensation [Text Block]

10. Employee Benefits

Bank-Owned Life Insurance (BOLI)

The Company has purchased single premium BOLI policies on certain officers. The policies are recorded at their cash surrender values. Increases in cash surrender values are included in non-interest income in the consolidated statements of income. As a result of the acquisition of Landmark, the Company added BOLI with a value of $7.2 million during 2021. The policies’ cash surrender value totaled $53.7 million and $52.7 million, respectively, as of September 30, 2022 and December 31, 2021 and is reflected as an asset on the consolidated balance sheets. For the nine months ended September 30, 2022 and 2021, the Company has recorded income of $965 thousand and $899 thousand, respectively.

Officer Life Insurance

In 2017, the Bank entered into separate split dollar life insurance arrangements (Split Dollar Agreements) with eleven officers. This plan provides each officer a specified death benefit should the officer die while in the Bank’s employ. The Bank paid the insurance premiums in March 2017 and the arrangements were effective in March 2017. In March 2019, the Bank entered into a new Split Dollar Agreement with one officer. In January 2021, the Bank entered into Split Dollar Agreements with fifteen officers. The Bank owns the policies and all cash values thereunder. Upon death of the covered employee, the agreed-upon amount of death proceeds from the policies will be paid directly to the insured’s beneficiary. As of September 30, 2022, the policies had total death benefits of $53.7 million of which $7.8 million would have been paid to the officer’s beneficiaries and the remaining $45.9 million would have been paid to the Bank. In addition, four executive officers have the opportunity to retain a split dollar benefit equal to two times their highest base salary after separation from service if the vesting requirements are met. As of September 30, 2022 and December 31, 2021, the Company had a balance in accrued expenses of $252 thousand and $200 thousand for the split dollar benefit.

Supplemental Executive Retirement plan (SERP)

On March 29, 2017, the Bank entered into separate supplemental executive retirement agreements (individually the “SERP Agreement”) with five officers, pursuant to which the Bank will credit an amount to a SERP account established on each participant’s behalf while they are actively employed by the Bank for each calendar month from March 1, 2017 until retirement. On March 20, 2019, the Bank entered into a SERP Agreement with one officer, pursuant to which the Bank will credit an amount to a SERP account established for the participant’s behalf while they are actively employed by the Bank for each calendar month from March 1, 2019 until normal retirement age. As a result of the acquisition of Landmark, the Company added $1.0 million in accrued SERP expenses to the consolidated balance sheets. As of September 30, 2022 and December 31, 2021, the Company had a balance in accrued expenses of $3.9 million and $3.6 million in connection with the SERP.