2024 Q2 Form 10-Q Financial Statement

#000095017024054392 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $41.59M $39.04M
YoY Change 31.64% 36.27%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $940.0K $800.0K
YoY Change 10.59% 20.12%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $19.02M $17.45M
YoY Change 53.73% 81.63%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $9.970M $7.555M
YoY Change 0.96% 16.7%
Income Tax $2.327M $1.745M
% Of Pretax Income 23.34% 23.1%
Net Earnings $7.643M $5.810M
YoY Change 0.1% 13.77%
Net Earnings / Revenue 18.38% 14.88%
Basic Earnings Per Share $1.00 $0.76
Diluted Earnings Per Share $0.99 $0.75
COMMON SHARES
Basic Shares Outstanding 7.664M 7.667M
Diluted Shares Outstanding 7.728M 7.740M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $176.5M $213.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $44.95M $45.54M
YoY Change 5.21% 10.9%
Goodwill $27.82M $27.82M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $12.41M $12.53M
YoY Change 46.04% 112.31%
Other Assets $30.38M $30.78M
YoY Change -4.18% 9.16%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.424B $3.369B
YoY Change 11.0% 12.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.00M $10.23M
YoY Change 18.3% -6.18%
Accrued Expenses $3.118M $3.264M
YoY Change -13.39% -9.33%
Deferred Revenue
YoY Change
Short-Term Debt $15.32M $14.59M
YoY Change -58.14% -12.65%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.44M $28.08M
YoY Change -40.53% -10.01%
LONG-TERM LIABILITIES
Long-Term Debt $39.53M $39.51M
YoY Change -23.25% -23.13%
Other Long-Term Liabilities $4.242M $4.484M
YoY Change 6.05% 12.1%
Total Long-Term Liabilities $43.77M $43.99M
YoY Change -21.14% -20.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.44M $28.08M
Total Long-Term Liabilities $43.77M $43.99M
Total Liabilities $3.212B $3.166B
YoY Change 9.32% 11.43%
SHAREHOLDERS EQUITY
Retained Earnings $134.0M $126.3M
YoY Change 21.4% 22.99%
Common Stock $144.9M $144.9M
YoY Change 30.06% 30.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.238M $453.0K
YoY Change 69.82% -28.1%
Treasury Stock Shares
Shareholders Equity $208.2M $197.7M
YoY Change
Total Liabilities & Shareholders Equity $3.424B $3.369B
YoY Change 11.0% 12.7%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $7.643M $5.810M
YoY Change 0.1% 13.77%
Depreciation, Depletion And Amortization $940.0K $800.0K
YoY Change 10.59% 20.12%
Cash From Operating Activities $4.598M $7.428M
YoY Change 4498.0% 45.59%
INVESTING ACTIVITIES
Capital Expenditures $222.0K $1.120M
YoY Change -90.55% -26.02%
Acquisitions
YoY Change
Other Investing Activities -$85.67M $2.740M
YoY Change -22.59% -102.75%
Cash From Investing Activities -$85.89M $1.620M
YoY Change -23.99% -101.6%
FINANCING ACTIVITIES
Cash Dividend Paid $3.833M
YoY Change 19.48%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 43.88M 132.3M
YoY Change -55.17% -6.8%
NET CHANGE
Cash From Operating Activities 4.598M 7.428M
Cash From Investing Activities -85.89M 1.620M
Cash From Financing Activities 43.88M 132.3M
Net Change In Cash -37.41M 141.4M
YoY Change 149.07% 207.86%
FREE CASH FLOW
Cash From Operating Activities $4.598M $7.428M
Capital Expenditures $222.0K $1.120M
Free Cash Flow $4.376M $6.308M
YoY Change -294.49% 75.81%

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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6474000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1745000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1367000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
5810000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
5107000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.76
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.5
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.48
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
5810000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
5107000
CY2024Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-5263000
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
12607000
CY2024Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-1321000
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
3166000
CY2024Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
-1432000
CY2024Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-360000
CY2024Q1 us-gaap Oci Debt Securities Available For Sale Transfer To Held To Maturity Adjustment From Aoci For Amortization Of Gain Loss Before Tax
OciDebtSecuritiesAvailableForSaleTransferToHeldToMaturityAdjustmentFromAociForAmortizationOfGainLossBeforeTax
82000
CY2023Q1 us-gaap Oci Debt Securities Available For Sale Transfer To Held To Maturity Adjustment From Aoci For Amortization Of Gain Loss Before Tax
OciDebtSecuritiesAvailableForSaleTransferToHeldToMaturityAdjustmentFromAociForAmortizationOfGainLossBeforeTax
2896000
CY2024Q1 us-gaap Oci Debt Securities Available For Sale Transfer To Held To Maturity Adjustment From Aoci For Amortization Of Gain Loss Tax
OciDebtSecuritiesAvailableForSaleTransferToHeldToMaturityAdjustmentFromAociForAmortizationOfGainLossTax
21000
CY2023Q1 us-gaap Oci Debt Securities Available For Sale Transfer To Held To Maturity Adjustment From Aoci For Amortization Of Gain Loss Tax
OciDebtSecuritiesAvailableForSaleTransferToHeldToMaturityAdjustmentFromAociForAmortizationOfGainLossTax
727000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2931000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7272000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2879000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
12379000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
198338000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
5810000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2931000
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
6806
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
158000
CY2024Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3476
CY2024Q1 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
118000
CY2024Q1 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
4865
CY2024Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
165000
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
CY2024Q1 us-gaap Dividends Common Stock
DividendsCommonStock
3833000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
138000
CY2024Q1 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
-1000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
197726000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
5810000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
5107000
CY2023Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
1311000
CY2024Q1 ck0001641601 Provision For Losses On Foreclosed Assets
ProvisionForLossesOnForeclosedAssets
15000
CY2023Q1 ck0001641601 Provision For Losses On Foreclosed Assets
ProvisionForLossesOnForeclosedAssets
30000
CY2024Q1 us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
648000
CY2023Q1 us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
746000
CY2024Q1 ck0001641601 Accretion Of Discount On Securities
AccretionOfDiscountOnSecurities
102000
CY2023Q1 ck0001641601 Accretion Of Discount On Securities
AccretionOfDiscountOnSecurities
116000
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-1432000
CY2024Q1 ck0001641601 Accretion Of Discount On Acquired Loans
AccretionOfDiscountOnAcquiredLoans
2000
CY2023Q1 ck0001641601 Accretion Of Discount On Acquired Loans
AccretionOfDiscountOnAcquiredLoans
3000
CY2024Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
1117000
CY2023Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
969000
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
139000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
186000
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
18000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
19000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
138000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
134000
CY2024Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
341000
CY2023Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
310000
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
666000
CY2023Q1 ck0001641601 Loss Gain On Sale Of Foreclosed Assets
LossGainOnSaleOfForeclosedAssets
45000
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
99000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-114000
CY2024Q1 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
-41000
CY2023Q1 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
2023000
CY2024Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-1000
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
40000
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-601000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
549000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2061000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1072000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7428000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5102000
CY2023Q1 ck0001641601 Proceeds From Interest Bearing Deposits In Banks
ProceedsFromInterestBearingDepositsInBanks
245000
CY2024Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
33681000
CY2024Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
10610000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
10072000
CY2024Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
13562000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
4943000
CY2024Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
1115000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
1172000
CY2024Q1 ck0001641601 Payments For Proceeds From Loan Principal Originations
PaymentsForProceedsFromLoanPrincipalOriginations
30014000
CY2023Q1 ck0001641601 Payments For Proceeds From Loan Principal Originations
PaymentsForProceedsFromLoanPrincipalOriginations
106407000
CY2024Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
3000
CY2023Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
426000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1120000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1514000
CY2024Q1 ck0001641601 Payments For Proceeds From Restricted Equity Securities Net
PaymentsForProceedsFromRestrictedEquitySecuritiesNet
-907000
CY2023Q1 ck0001641601 Payments For Proceeds From Restricted Equity Securities Net
PaymentsForProceedsFromRestrictedEquitySecuritiesNet
219000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1620000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-101168000
CY2024Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
163107000
CY2023Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
149735000
CY2024Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-2143000
CY2023Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
8523000
CY2023Q1 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
70000000
CY2024Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
25000000
CY2023Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
70000000
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
12000000
CY2023Q1 ck0001641601 Repayment Of Federal Reserve Bank Discount Window Borrowings Financing Activities
RepaymentOfFederalReserveBankDiscountWindowBorrowingsFinancingActivities
25000000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
158000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
254000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
118000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
472000
CY2024Q1 us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
165000
CY2023Q1 us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
159000
CY2024Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
3833000
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
3208000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
132336000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
141991000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
141384000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45925000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
72547000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
74826000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
213931000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
120751000
CY2024Q1 ck0001641601 Interest Paid To Depositors
InterestPaidToDepositors
14384000
CY2023Q1 ck0001641601 Interest Paid To Depositors
InterestPaidToDepositors
7696000
CY2024Q1 ck0001641601 Interest Paid On Borrowings
InterestPaidOnBorrowings
2752000
CY2023Q1 ck0001641601 Interest Paid On Borrowings
InterestPaidOnBorrowings
1835000
CY2024Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
850000
CY2023Q1 ck0001641601 Restricted Stock Grants In Non Cash Transactions
RestrictedStockGrantsInNonCashTransactions
53000
CY2024Q1 us-gaap Reclassifications
Reclassifications
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 2 – Reclassifications</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain prior period amounts have been reclassified to conform to the presentation used in 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. These reclassifications had no material effect on the operations, financial condition or cash flows of the Company.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
5810000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
5107000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7662887
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6666765
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
77294
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
91882
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7740181
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6758647
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.76
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
671255000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
32000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
86849000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
584438000
CY2024Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
125711000
CY2024Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
25173000
CY2024Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
100538000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
703915000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
111000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
82935000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
621091000
CY2023Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
126793000
CY2023Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
23619000
CY2023Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
103174000
CY2024Q1 ck0001641601 Non Cash Transaction Transfer Of Securities From Available For Sale To Held To Maturity
NonCashTransactionTransferOfSecuritiesFromAvailableForSaleToHeldToMaturity
2540000
CY2023 ck0001641601 Non Cash Transaction Transfer Of Securities From Available For Sale To Held To Maturity
NonCashTransactionTransferOfSecuritiesFromAvailableForSaleToHeldToMaturity
2620000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
7729000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
42000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
567463000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
86807000
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
575192000
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
86849000
CY2024Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
95192000
CY2024Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
25173000
CY2024Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
95192000
CY2024Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
25173000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
4643000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
38000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
611525000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
82897000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
616168000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
82935000
CY2023Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
97829000
CY2023Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
23619000
CY2023Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
97829000
CY2023Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
23619000
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
318
CY2024Q1 ck0001641601 Available For Sale Securities And Held To Maturity Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesAndHeldToMaturityUnrealizedLossPositionAccumulatedLoss
112000000
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
0
CY2024Q1 us-gaap Held To Maturity Securities Transferred Security Unrealized Gain Loss
HeldToMaturitySecuritiesTransferredSecurityUnrealizedGainLoss
0
CY2024Q1 ck0001641601 Interest Receivable On Securities
InterestReceivableOnSecurities
2100000
CY2024Q1 ck0001641601 Pledged Financial Instrument Not Separately Reported Securities For Federal Home Loan Bank
PledgedFinancialInstrumentNotSeparatelyReportedSecuritiesForFederalHomeLoanBank
366200000
CY2023Q4 ck0001641601 Pledged Financial Instrument Not Separately Reported Securities For Federal Home Loan Bank
PledgedFinancialInstrumentNotSeparatelyReportedSecuritiesForFederalHomeLoanBank
268200000
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CY2024Q1 ck0001641601 Financing Receivable Allowance For Credit Losses Collectively Evaluated
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CY2024Q1 ck0001641601 Financing Receivable Collectively Evaluated
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CY2022Q4 us-gaap Loans And Leases Receivable Allowance
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CY2023Q1 us-gaap Provision For Loan And Lease Losses
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CY2023Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
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CY2023Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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CY2023Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2023Q1 ck0001641601 Financing Receivable Allowance For Credit Losses Collectively Evaluated
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CY2023Q1 us-gaap Loans And Leases Receivable Allowance
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CY2023Q1 ck0001641601 Financing Receivable Collectively Evaluated
FinancingReceivableCollectivelyEvaluated
1907660000
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CY2024Q1 ck0001641601 Financing Receivable With No Related Allowance Recorded Investment
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CY2024Q1 ck0001641601 Financing Receivable With Related Allowance Recorded Investment
FinancingReceivableWithRelatedAllowanceRecordedInvestment
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CY2023Q4 ck0001641601 Financing Receivable With No Related Allowance Recorded Investment
FinancingReceivableWithNoRelatedAllowanceRecordedInvestment
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CY2023Q4 ck0001641601 Financing Receivable With Related Allowance Recorded Investment
FinancingReceivableWithRelatedAllowanceRecordedInvestment
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CY2024Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
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CY2024Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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4357000
CY2024Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
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2277904000
CY2024Q1 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
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FinancingReceivableRecordedInvestmentNonaccrualStatus
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CY2023Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
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2248228000
CY2023Q4 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
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CY2024Q1 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
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CY2024Q1 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
577772000
CY2024Q1 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
720627000
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FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
271027000
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186492000
CY2024Q1 us-gaap Financing Receivable Revolving
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CY2024Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
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2277904000
CY2024Q1 us-gaap Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
45000
CY2024Q1 us-gaap Financing Receivable Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
35000
CY2024Q1 us-gaap Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
50000
CY2024Q1 us-gaap Financing Receivable Originated More Than Five Years Before Current Fiscal Year Writeoff
FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2023Q4 us-gaap Financing Receivable Originated In Current Fiscal Year
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559028000
CY2023Q4 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
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CY2023Q4 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
281059000
CY2023Q4 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
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80303000
CY2023Q4 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
121064000
CY2023Q4 us-gaap Financing Receivable Revolving
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CY2023Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
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2248228000
CY2023 us-gaap Financing Receivable Year One Originated Current Fiscal Year Writeoff
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CY2023 us-gaap Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
166000
CY2023 us-gaap Financing Receivable Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
197000
CY2023 us-gaap Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
15000
CY2023 us-gaap Financing Receivable Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
23000
CY2023 us-gaap Financing Receivable Originated More Than Five Years Before Current Fiscal Year Writeoff
FinancingReceivableOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff
338000
CY2023 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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1027000
CY2024Q1 ck0001641601 Number Of Transfers
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0
CY2023Q1 ck0001641601 Cumulative Adjustment To Retained Earnings
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24000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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80000
CY2023Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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8000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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80000
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48000
CY2024Q1 us-gaap Temporary Equity Value Excluding Additional Paid In Capital
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4480000
CY2023Q4 us-gaap Temporary Equity Value Excluding Additional Paid In Capital
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4480000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
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3104000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3243000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3264000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3407000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y5M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y6M
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0600
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0600
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
770000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
648000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
449000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
401000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
333000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
1667000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4268000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1004000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3264000

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