Note 4 - Fair Value (Tables)
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9 Months Ended |
Sep. 30, 2023 |
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| Notes Tables |
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| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
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Quoted Prices in |
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Active Markets |
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Significant Other |
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Significant |
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for Identical |
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Observable |
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Unobservable |
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Fair |
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Assets |
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Inputs |
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Inputs |
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Value |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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| September 30, 2023 |
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| Available for sale securities |
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| U.S. Treasury and federal agency securities |
|
$ |
240,113 |
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|
$ |
— |
|
|
$ |
240,113 |
|
|
$ |
— |
|
| U.S. Agency MBS and CMOs |
|
|
109,962 |
|
|
|
— |
|
|
|
109,962 |
|
|
|
— |
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| Tax-exempt state and municipal bonds |
|
|
33,249 |
|
|
|
— |
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|
33,249 |
|
|
|
— |
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| Taxable state and municipal bonds |
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|
108,209 |
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|
— |
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|
108,209 |
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— |
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| Corporate bonds and other debt securities |
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11,744 |
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|
— |
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|
11,744 |
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|
— |
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| Other equity securities |
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|
1,260 |
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|
— |
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|
1,260 |
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|
— |
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| Loans held for sale |
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— |
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— |
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— |
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— |
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| Interest rate swaps |
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|
6,812 |
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— |
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|
6,812 |
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— |
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| Total assets measured at fair value on recurring basis |
|
$ |
511,349 |
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|
$ |
— |
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|
$ |
511,349 |
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|
$ |
— |
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|
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| Interest rate swaps |
|
$ |
(6,812 |
) |
|
$ |
— |
|
|
$ |
(6,812 |
) |
|
$ |
— |
|
| Total liabilities measured at fair value on recurring basis |
|
$ |
(6,812 |
) |
|
$ |
— |
|
|
$ |
(6,812 |
) |
|
$ |
— |
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| December 31, 2022 |
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| Available for sale securities |
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| U.S. Treasury and federal agency securities |
|
$ |
224,634 |
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|
$ |
— |
|
|
$ |
224,634 |
|
|
$ |
— |
|
| U.S. Agency MBS and CMOs |
|
|
113,818 |
|
|
|
— |
|
|
|
113,818 |
|
|
|
— |
|
| Tax-exempt state and municipal bonds |
|
|
36,710 |
|
|
|
— |
|
|
|
36,710 |
|
|
|
— |
|
| Taxable state and municipal bonds |
|
|
112,171 |
|
|
|
— |
|
|
|
112,171 |
|
|
|
— |
|
| Corporate bonds and other debt securities |
|
|
11,924 |
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— |
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|
11,924 |
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|
— |
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| Other equity securities |
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|
1,304 |
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— |
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|
1,304 |
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|
— |
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| Loans held for sale |
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|
215 |
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— |
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|
215 |
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— |
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| Interest rate swaps |
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|
6,463 |
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|
— |
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|
6,463 |
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|
|
— |
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| Total assets measured at fair value on recurring basis |
|
$ |
507,239 |
|
|
$ |
— |
|
|
$ |
507,239 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Interest rate swaps |
|
$ |
(6,463 |
) |
|
$ |
— |
|
|
$ |
(6,463 |
) |
|
$ |
— |
|
| Total liabilities measured at fair value on recurring basis |
|
$ |
(6,463 |
) |
|
$ |
— |
|
|
$ |
(6,463 |
) |
|
$ |
— |
|
|
| Fair Value Measurements, Nonrecurring [Table Text Block] |
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Quoted Prices in |
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|
Active Markets |
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|
Significant Other |
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|
Significant |
|
| |
|
|
|
|
|
for Identical |
|
|
Observable |
|
|
Unobservable |
|
| |
|
Fair |
|
|
Assets |
|
|
Inputs |
|
|
Inputs |
|
| |
|
Value |
|
|
(Level 1) |
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|
(Level 2) |
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|
(Level 3) |
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| September 30, 2023 |
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| Collateral dependent loans |
|
$ |
27 |
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|
$ |
— |
|
|
$ |
— |
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|
$ |
27 |
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| December 31, 2022 |
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| Impaired loans |
|
$ |
328 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
328 |
|
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| Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
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|
Asset Fair |
|
Valuation |
|
Unobservable |
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|
Value |
|
Technique |
|
Inputs |
|
Range (%) |
|
| September 30, 2023 |
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|
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|
| Collateral dependent loans |
|
$ |
27 |
|
Sales comparison approach |
|
Adjustment for differences between comparable sales |
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|
2.0 to 41.0 |
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|
Income approach |
|
Capitalization rate |
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|
7.5 to 8.5 |
|
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|
Asset Fair |
|
Valuation |
|
Unobservable |
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|
|
| |
|
Value |
|
Technique |
|
Inputs |
|
Range (%) |
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
| Impaired Loans |
|
$ |
328 |
|
Sales comparison approach |
|
Adjustment for differences between comparable sales |
|
|
1.5 to 20.0 |
|
| |
|
|
|
|
Income approach |
|
Capitalization rate |
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|
9.5 to 11.0 |
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|
| Fair Value, by Balance Sheet Grouping [Table Text Block] |
| |
Level in |
|
September 30, 2023 |
|
|
December 31, 2022 |
|
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Fair Value |
|
Carrying |
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Fair |
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Carrying |
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Fair |
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| |
Hierarchy |
|
Amount |
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|
Value |
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|
Amount |
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|
Value |
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| Financial assets |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and due from banks |
Level 1 |
|
$ |
40,687 |
|
|
$ |
40,687 |
|
|
$ |
51,215 |
|
|
$ |
51,215 |
|
| Federal funds sold and other short-term investments |
Level 1 |
|
|
469,786 |
|
|
|
469,786 |
|
|
|
703,955 |
|
|
|
703,955 |
|
| Securities held to maturity - U.S. Treasury |
Level 2 |
|
|
251,248 |
|
|
|
238,971 |
|
|
|
251,307 |
|
|
|
237,630 |
|
| Securities held to maturity - tax-exempt and municipal |
Level 3 |
|
|
78,755 |
|
|
|
75,487 |
|
|
|
97,458 |
|
|
|
95,020 |
|
| FHLB stock |
Level 3 |
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
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|
10,211 |
|
| Loans, net |
Level 2 |
|
|
1,274,262 |
|
|
|
1,249,319 |
|
|
|
1,162,135 |
|
|
|
1,131,387 |
|
| Bank owned life insurance |
Level 3 |
|
|
54,043 |
|
|
|
54,043 |
|
|
|
53,345 |
|
|
|
53,345 |
|
| Accrued interest receivable |
Level 2 |
|
|
9,957 |
|
|
|
9,957 |
|
|
|
7,606 |
|
|
|
7,606 |
|
| Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
Level 2 |
|
|
(2,445,586 |
) |
|
|
(2,447,649 |
) |
|
|
(2,615,142 |
) |
|
|
(2,615,860 |
) |
| Other borrowed funds |
Level 2 |
|
|
(30,000 |
) |
|
|
(29,006 |
) |
|
|
(30,000 |
) |
|
|
(28,666 |
) |
| Accrued interest payable |
Level 2 |
|
|
(554 |
) |
|
|
(554 |
) |
|
|
(114 |
) |
|
|
(114 |
) |
| Off-balance sheet credit-related items |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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| Loan commitments |
|
|
— |
|
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|
— |
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|
— |
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|
— |
|
|