$VBFC
Village Bank & Trust Financial Corp.

2023 Q2 Form 10-Q Financial Statement

#000155837023009514 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $9.320M $9.026M
YoY Change 1.7% 8.08%
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 $145.0K $140.0K
YoY Change 5.07% 5.26%
% of Gross Profit
Operating Expenses $7.807M $7.161M
YoY Change 21.62% 16.55%
Operating Profit
YoY Change
Interest Expense $1.975M $1.218M
YoY Change 381.71% 199.26%
% of Operating Profit
Other Income/Expense, Net $2.417M $2.308M
YoY Change 15.31% 6.95%
Pretax Income $1.513M $1.865M
YoY Change -44.88% -15.5%
Income Tax $274.0K $325.0K
% Of Pretax Income 18.11% 17.43%
Net Earnings $1.239M $1.540M
YoY Change -43.42% -14.44%
Net Earnings / Revenue 13.29% 17.06%
Basic Earnings Per Share $0.83 $1.04
Diluted Earnings Per Share $0.83 $1.04
COMMON SHARES
Basic Shares Outstanding 1.486M 1.484M
Diluted Shares Outstanding 1.486M 1.484M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $25.98M $24.13M
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 $11.89M $11.81M
YoY Change 2.53% 0.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $754.7M $734.8M
YoY Change 0.27% -3.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $270.0K $212.0K
YoY Change 342.62% 231.25%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $45.00M $35.00M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.27M $35.21M
YoY Change 74113.11% 54918.75%
LONG-TERM LIABILITIES
Long-Term Debt $14.46M $14.46M
YoY Change 0.17% 0.22%
Other Long-Term Liabilities $2.525M $3.224M
YoY Change -25.78% -32.38%
Total Long-Term Liabilities $16.99M $17.69M
YoY Change -4.78% -7.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.27M $35.21M
Total Long-Term Liabilities $16.99M $17.69M
Total Liabilities $690.6M $670.9M
YoY Change -0.27% -4.56%
SHAREHOLDERS EQUITY
Retained Earnings $13.14M $12.14M
YoY Change 85.46% 137.92%
Common Stock $5.883M $5.881M
YoY Change 0.79% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $64.01M $63.88M
YoY Change
Total Liabilities & Shareholders Equity $754.7M $734.8M
YoY Change 0.27% -3.87%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $1.239M $1.540M
YoY Change -43.42% -14.44%
Depreciation, Depletion And Amortization $145.0K $140.0K
YoY Change 5.07% 5.26%
Cash From Operating Activities -$3.607M $2.096M
YoY Change -405.68% -256.53%
INVESTING ACTIVITIES
Capital Expenditures $229.0K $198.0K
YoY Change -2181.82% 500.0%
Acquisitions
YoY Change
Other Investing Activities -$14.44M -$2.478M
YoY Change 161.76% -94.13%
Cash From Investing Activities -$14.67M -$2.676M
YoY Change 165.38% -93.66%
FINANCING ACTIVITIES
Cash Dividend Paid $237.0K
YoY Change 15.05%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.13M 8.036M
YoY Change -317.86% -58.62%
NET CHANGE
Cash From Operating Activities -3.607M 2.096M
Cash From Investing Activities -14.67M -2.676M
Cash From Financing Activities 20.13M 8.036M
Net Change In Cash 1.848M 7.456M
YoY Change -113.6% -130.9%
FREE CASH FLOW
Cash From Operating Activities -$3.607M $2.096M
Capital Expenditures $229.0K $198.0K
Free Cash Flow -$3.836M $1.898M
YoY Change -422.08% -238.34%

Facts In Submission

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CY2022Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-400000
CY2023Q1 vbfc Gain Loss On Loans Held For Sale
GainLossOnLoansHeldForSale
611000
CY2022Q1 vbfc Gain Loss On Loans Held For Sale
GainLossOnLoansHeldForSale
1211000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
102000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
90000
CY2023Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
25187000
CY2022Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
43859000
CY2023Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
24160000
CY2022Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
45014000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
39000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-66000
CY2023Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
68000
CY2022Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
66000
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-77000
CY2022Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-65000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
615000
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-942000
CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
142000
CY2022Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-4000
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
334000
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1692000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2096000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1339000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
2652000
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
52363000
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2564000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2467000
CY2023Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
1667000
CY2022Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-7640000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
198000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
33000
CY2023Q1 vbfc Payments To Acquire Restricted Stock
PaymentsToAcquireRestrictedStock
626000
CY2022Q1 vbfc Payments To Acquire Restricted Stock
PaymentsToAcquireRestrictedStock
20000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2676000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42212000
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
237000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
206000
CY2023Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-6727000
CY2022Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
19625000
CY2023Q1 us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
15000000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8036000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19419000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7456000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-24132000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16678000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92616000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24134000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68484000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1076000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
411000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
168000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
161000
CY2023Q1 vbfc Unrealized Loss On Securities Available For Sale
UnrealizedLossOnSecuritiesAvailableForSale
1876000
CY2022Q1 vbfc Unrealized Loss On Securities Available For Sale
UnrealizedLossOnSecuritiesAvailableForSale
-4566000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
263000
CY2023Q1 vbfc Minimum Pension Adjustments Through Noncash Payments Amount
MinimumPensionAdjustmentsThroughNoncashPaymentsAmount
3000
CY2022Q1 vbfc Minimum Pension Adjustments Through Noncash Payments Amount
MinimumPensionAdjustmentsThroughNoncashPaymentsAmount
3000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3370000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3370000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1540000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
1800000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1484000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1457000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1484000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1457000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.24
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.24
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
10658
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6264
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
147827000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
112000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11986000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
135953000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
147603000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
40000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
13790000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
133853000
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
8044000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
240000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
116619000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
11746000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
124663000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
11986000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
63242000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4809000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
63361000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
8981000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
126603000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
13790000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
68
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
124663000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
11986000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
29916000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
29200000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
35264000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
32982000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
16656000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
15429000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
65991000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
58342000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
147827000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
135953000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
539818000
CY2023Q1 vbfc Percentage Of Class Of Loans To Loan Portfolio
PercentageOfClassOfLoansToLoanPortfolio
1.000
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
538427000
CY2022Q4 vbfc Percentage Of Class Of Loans To Loan Portfolio
PercentageOfClassOfLoansToLoanPortfolio
1.000
CY2023Q1 vbfc Financing Receivable Unamortized Loan Commitment Origination Fee Costs
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeCosts
-647000
CY2022Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-588000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
3272000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3370000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
537193000
CY2022Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
535645000
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
589000
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
654000
CY2023Q1 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
9000
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
538427000
CY2023Q1 vbfc Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff
3000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
3000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
17902000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
100785000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
111530000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
51926000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
37373000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
166088000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
54214000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
539818000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
539818000
CY2023Q1 vbfc Financing Receivable And Net Investment In Lease Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableAndNetInvestmentInLeaseRecordedInvestment90DaysPastDueAndStillAccruing
1871000
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
538427000
CY2022Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
1725000
CY2023Q1 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
1857000
CY2023Q1 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
1956000
CY2022Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
6903000
CY2022Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
7023000
CY2022Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
408000
CY2022Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
408000
CY2022Q4 vbfc Impaired Financing Receivable With Related Allowance
ImpairedFinancingReceivableWithRelatedAllowance
9000
CY2023Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
1857000
CY2023Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
1956000
CY2022Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
7311000
CY2022Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
7431000
CY2022Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
9000
CY2023Q1 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
301000
CY2022Q1 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
320000
CY2022Q1 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
6000
CY2023Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6199000
CY2023Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
26000
CY2022Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
9704000
CY2022Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
77000
CY2022Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
5163000
CY2022 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
24
CY2022 vbfc Financing Receivable Modifications Number Of Contracts New Identifications
FinancingReceivableModificationsNumberOfContractsNewIdentifications
0
us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0
CY2023Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0
CY2022 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3370000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
23000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
3000
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
9000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
3272000
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3423000
CY2022Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-400000
CY2022Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
9000
CY2022Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
389000
CY2022Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3403000
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3423000
CY2022 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-300000
CY2022 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
217000
CY2022 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
464000
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3370000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
23000
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-400000
CY2023Q1 us-gaap Provision For Other Losses
ProvisionForOtherLosses
-23000
CY2023Q1 us-gaap Percentage Of Interest Bearing Domestic Deposits To Deposits Other Time Deposit
PercentageOfInterestBearingDomesticDepositsToDepositsOtherTimeDeposit
0.063
CY2022Q4 us-gaap Interest Bearing Domestic Deposit Other Time Deposit
InterestBearingDomesticDepositOtherTimeDeposit
39784000
CY2022Q4 us-gaap Percentage Of Interest Bearing Domestic Deposits To Deposits Other Time Deposit
PercentageOfInterestBearingDomesticDepositsToDepositsOtherTimeDeposit
0.064
CY2023Q1 us-gaap Deposits
Deposits
618016000
CY2023Q1 vbfc Percentage Of Domestic Deposits Liability Total
PercentageOfDomesticDepositsLiabilityTotal
1.000
CY2022Q4 us-gaap Deposits
Deposits
624743000
CY2022Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-400000
CY2023Q1 vbfc Financing Receivable Allowance For Credit Loss Excluding Accrued Interest And Off Balance Sheet Credit Loss Liability
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestAndOffBalanceSheetCreditLossLiability
3530000
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CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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CY2023Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
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CY2023Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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CY2022Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
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CY2022Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2022Q4 vbfc Percentage Of Domestic Deposits Liability Total
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CY2023Q1 us-gaap Federal Home Loan Bank Stock
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CY2023Q1 us-gaap Federal Home Loan Bank Advances Long Term
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CY2022Q4 us-gaap Federal Home Loan Bank Advances Long Term
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CY2023Q1 us-gaap Other Borrowings
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CY2022Q4 us-gaap Other Borrowings
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 vbfc Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited Fair Value
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2022Q1 vbfc Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited Fair Value
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CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2023Q1 vbfc Share Based Compensation Arrangement By Share Based Payment Award Options Exercised During Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedDuringPeriodFairValue
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CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2022Q1 vbfc Share Based Compensation Arrangement By Share Based Payment Award Options Exercised During Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedDuringPeriodFairValue
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2023Q1 vbfc Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingFairValue
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2022Q1 vbfc Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingFairValue
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
7583000
CY2023Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
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CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2023Q1 us-gaap Revenues
Revenues
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CY2023Q1 us-gaap Interest Expense
InterestExpense
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CY2023Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3448000
CY2023Q1 us-gaap Noninterest Expense Commission Expense
NoninterestExpenseCommissionExpense
187000
CY2023Q1 us-gaap Other Expenses
OtherExpenses
2308000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
7161000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1865000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
325000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1540000
CY2023Q1 us-gaap Assets
Assets
734797000
CY2022Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
6268000
CY2022Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1211000
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
872000
CY2022Q1 us-gaap Revenues
Revenues
8351000
CY2022Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-400000
CY2022Q1 us-gaap Interest Expense
InterestExpense
407000
CY2022Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3524000
CY2022Q1 us-gaap Noninterest Expense Commission Expense
NoninterestExpenseCommissionExpense
455000
CY2022Q1 us-gaap Other Expenses
OtherExpenses
2158000
CY2022Q1 us-gaap Operating Expenses
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6144000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2207000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
407000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
1800000
CY2022Q1 us-gaap Assets
Assets
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CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
17000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
19000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Banking Regulation Capital Conservation Buffer Common Equity Tier One Risk Based Capital Actual
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0.025
CY2023Q1 us-gaap Banking Regulation Capital Conservation Buffer Tier One Risk Based Capital Actual
BankingRegulationCapitalConservationBufferTierOneRiskBasedCapitalActual
0.025
CY2023Q1 us-gaap Banking Regulation Capital Conservation Buffer Total Risk Based Capital Actual
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0.025
CY2023Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
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0.04
CY2016Q1 vbfc Capital Conservation Buffer Percentage
CapitalConservationBufferPercentage
0.00625
CY2019Q1 vbfc Capital Conservation Buffer Percentage
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0.025
CY2023Q1 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Well Capitalized Minimum
BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioWellCapitalizedMinimum
0.065
CY2023Q1 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q1 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2023Q1 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
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0.050
CY2023Q1 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Capital Adequacy Minimum
BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum
0.045
CY2023Q1 us-gaap Banking Regulation Capital Conservation Buffer Common Equity Tier One Risk Based Capital Actual
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0.025
CY2023Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
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CY2023Q1 us-gaap Banking Regulation Capital Conservation Buffer Tier One Risk Based Capital Actual
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0.025
CY2023Q1 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
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CY2023Q1 us-gaap Banking Regulation Capital Conservation Buffer Total Risk Based Capital Actual
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0.025
CY2023Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
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CY2023Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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136918000
CY2022Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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CY2023Q1 us-gaap Loans Held For Sale Fair Value Disclosure
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1900000
CY2023Q1 vbfc Loans Held For Sale Unpaid Principal Balance
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1800000
CY2022Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
2300000
CY2022Q4 vbfc Loans Held For Sale Unpaid Principal Balance
LoansHeldForSaleUnpaidPrincipalBalance
2200000

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