Note 4 - Fair Value (Tables)
|
6 Months Ended |
Jun. 30, 2023 |
|---|
| Notes Tables |
|
| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
| |
|
Fair |
|
|
Quoted Prices in
Active Markets
for Identical
Assets |
|
|
Significant Other
Observable
Inputs |
|
|
Significant
Unobservable
Inputs |
|
| |
|
Value |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
| June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available for sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury and federal agency securities |
|
$ |
240,181 |
|
|
$ |
— |
|
|
$ |
240,181 |
|
|
$ |
— |
|
| U.S. Agency MBS and CMOs |
|
|
116,149 |
|
|
|
— |
|
|
|
116,149 |
|
|
|
— |
|
| Tax-exempt state and municipal bonds |
|
|
34,611 |
|
|
|
— |
|
|
|
34,611 |
|
|
|
— |
|
| Taxable state and municipal bonds |
|
|
110,181 |
|
|
|
— |
|
|
|
110,181 |
|
|
|
— |
|
| Corporate bonds and other debt securities |
|
|
11,715 |
|
|
|
— |
|
|
|
11,715 |
|
|
|
— |
|
| Other equity securities |
|
|
1,300 |
|
|
|
— |
|
|
|
1,300 |
|
|
|
— |
|
| Loans held for sale |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Interest rate swaps |
|
|
6,000 |
|
|
|
— |
|
|
|
6,000 |
|
|
|
— |
|
| Total assets measured at fair value on recurring basis |
|
$ |
520,137 |
|
|
$ |
— |
|
|
$ |
520,137 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate swaps |
|
|
(6,000 |
) |
|
|
— |
|
|
|
(6,000 |
) |
|
|
— |
|
| Total liabilities measured at fair value on recurring basis |
|
$ |
(6,000 |
) |
|
$ |
— |
|
|
$ |
(6,000 |
) |
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available for sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury and federal agency securities |
|
$ |
224,634 |
|
|
$ |
— |
|
|
$ |
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 |
|
|
|
— |
|
|
|
11,924 |
|
|
|
— |
|
| Other equity securities |
|
|
1,304 |
|
|
|
— |
|
|
|
1,304 |
|
|
|
— |
|
| Loans held for sale |
|
|
215 |
|
|
|
— |
|
|
|
215 |
|
|
|
— |
|
| Interest rate swaps |
|
|
6,463 |
|
|
|
— |
|
|
|
6,463 |
|
|
|
— |
|
| Total assets measured at fair value on recurring basis |
|
$ |
507,239 |
|
|
$ |
— |
|
|
$ |
507,239 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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] |
| |
|
Fair |
|
|
Quoted Prices in
Active Markets
for Identical
Assets |
|
|
Significant Other
Observable
Inputs |
|
|
Significant
Unobservable
Inputs |
|
| |
|
Value |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
| June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral dependent loans |
|
$ |
910 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
910 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Impaired loans |
|
$ |
328 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
328 |
|
|
| Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
| |
|
Asset Fair
Value |
|
Valuation
Technique |
|
Unobservable
Inputs |
|
Range (%) |
|
| June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral dependent loans |
|
$ |
910 |
|
Sales comparison approach |
|
Adjustment for differences
between comparable sales |
|
1.5 |
to |
20.0 |
|
| |
|
|
|
|
Income approach |
|
Capitalization rate |
|
9.5 |
to |
11.0 |
|
| |
|
Asset Fair
Value |
|
Valuation
Technique |
|
Unobservable
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 |
|
9.5 |
to |
11.0 |
|
|
| Fair Value, by Balance Sheet Grouping [Table Text Block] |
| |
Level in |
|
June 30, 2023 |
|
|
December 31, 2022 |
|
| |
Fair Value
Hierarchy |
|
Carrying
Amount |
|
|
Fair
Value |
|
|
Carrying
Amount |
|
|
Fair
Value |
|
| Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and due from banks |
Level 1 |
|
$ |
40,255 |
|
|
$ |
40,255 |
|
|
$ |
51,215 |
|
|
$ |
51,215 |
|
| Federal funds sold and other short-term investments |
Level 1 |
|
|
343,676 |
|
|
|
343,676 |
|
|
|
703,955 |
|
|
|
703,955 |
|
| Securities held to maturity - U.S. Treasury |
Level 2 |
|
|
251,266 |
|
|
|
238,104 |
|
|
|
251,307 |
|
|
|
237,630 |
|
| Securities held to maturity - tax-exempt and municipal |
Level 3 |
|
|
89,134 |
|
|
|
87,250 |
|
|
|
97,458 |
|
|
|
95,020 |
|
| FHLB stock |
Level 3 |
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
| Loans, net |
Level 2 |
|
|
1,253,557 |
|
|
|
1,233,454 |
|
|
|
1,162,135 |
|
|
|
1,131,387 |
|
| Bank owned life insurance |
Level 3 |
|
|
53,791 |
|
|
|
53,791 |
|
|
|
53,345 |
|
|
|
53,345 |
|
| Accrued interest receivable |
Level 2 |
|
|
7,499 |
|
|
|
7,499 |
|
|
|
7,606 |
|
|
|
7,606 |
|
| Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
Level 2 |
|
|
(2,321,545 |
) |
|
|
(2,323,329 |
) |
|
|
(2,615,142 |
) |
|
|
(2,615,860 |
) |
| Other borrowed funds |
Level 2 |
|
|
(30,000 |
) |
|
|
(28,785 |
) |
|
|
(30,000 |
) |
|
|
(28,666 |
) |
| Accrued interest payable |
Level 2 |
|
|
(365 |
) |
|
|
(365 |
) |
|
|
(114 |
) |
|
|
(114 |
) |
| Off-balance sheet credit-related items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loan commitments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|