Note 4 - Fair Value (Tables)
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3 Months Ended |
Mar. 31, 2024 |
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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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| March 31, 2024 |
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| Available for sale securities |
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|
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|
|
|
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|
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|
|
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|
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| U.S. Treasury and federal agency securities |
|
$ |
235,081 |
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|
$ |
— |
|
|
$ |
235,081 |
|
|
$ |
— |
|
| Agency MBS and CMOs |
|
|
107,032 |
|
|
|
— |
|
|
|
107,032 |
|
|
|
— |
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| Tax-exempt state and municipal bonds |
|
|
30,281 |
|
|
|
— |
|
|
|
30,281 |
|
|
|
— |
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| Taxable state and municipal bonds |
|
|
107,501 |
|
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|
— |
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|
107,501 |
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— |
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| Corporate bonds and other debt securities |
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|
11,319 |
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|
— |
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|
11,319 |
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|
— |
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| Other equity securities |
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|
1,307 |
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|
|
— |
|
|
|
1,307 |
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|
|
— |
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| Loans held for sale |
|
|
— |
|
|
|
— |
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|
|
— |
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|
— |
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| Interest rate swaps |
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|
5,553 |
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|
— |
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|
5,553 |
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|
— |
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| Total assets measured at fair value on recurring basis |
|
$ |
498,074 |
|
|
$ |
— |
|
|
$ |
498,074 |
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|
$ |
— |
|
| |
|
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|
|
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|
|
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|
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| Interest rate swaps |
|
$ |
(5,553 |
) |
|
$ |
— |
|
|
$ |
(5,553 |
) |
|
$ |
— |
|
| Total liabilities measured at fair value on recurring basis |
|
$ |
(5,553 |
) |
|
$ |
— |
|
|
$ |
(5,553 |
) |
|
$ |
— |
|
| |
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| December 31, 2023 |
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| Available for sale securities |
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|
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| U.S. Treasury and federal agency securities |
|
$ |
245,492 |
|
|
$ |
— |
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|
$ |
245,492 |
|
|
$ |
— |
|
| Agency MBS and CMOs |
|
|
111,336 |
|
|
|
— |
|
|
|
111,336 |
|
|
|
— |
|
| Tax-exempt state and municipal bonds |
|
|
30,597 |
|
|
|
— |
|
|
|
30,597 |
|
|
|
— |
|
| Taxable state and municipal bonds |
|
|
110,076 |
|
|
|
— |
|
|
|
110,076 |
|
|
|
— |
|
| Corporate bonds and other debt securities |
|
|
11,297 |
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|
|
— |
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|
11,297 |
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|
|
— |
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| Other equity securities |
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|
1,318 |
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|
— |
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|
1,318 |
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|
— |
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| Loans held for sale |
|
|
— |
|
|
|
— |
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|
— |
|
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|
— |
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| Interest rate swaps |
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|
4,856 |
|
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— |
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|
4,856 |
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|
— |
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| Total assets measured at fair value on recurring basis |
|
$ |
514,972 |
|
|
$ |
— |
|
|
$ |
514,972 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Interest rate swaps |
|
$ |
(4,856 |
) |
|
$ |
— |
|
|
$ |
(4,856 |
) |
|
$ |
— |
|
| Total liabilities measured at fair value on recurring basis |
|
$ |
(4,856 |
) |
|
$ |
— |
|
|
$ |
(4,856 |
) |
|
$ |
— |
|
|
| Fair Value Measurements, Nonrecurring [Table Text Block] |
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Quoted Prices in |
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|
| |
|
|
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|
Active Markets |
|
|
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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| March 31, 2024 |
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|
|
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| Collateral dependent loans |
|
$ |
300 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
300 |
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| December 31, 2023 |
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| Collateral dependent loans |
|
$ |
303 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
303 |
|
|
| Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
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|
Asset Fair |
|
Valuation |
|
Unobservable |
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|
|
|
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|
Value |
|
Technique |
|
Inputs |
|
Range % (Weighted Average) |
|
| March 31, 2024 |
|
|
|
|
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|
|
|
|
|
| Collateral dependent loans |
|
$ |
300 |
|
Sales comparison approach |
|
Adjustment for differences between comparable sales |
|
|
2.0 to 41.0 (37.7) |
|
| |
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|
|
Income approach |
|
Capitalization rate |
|
|
7.5 to 8.5 (8.4) |
|
| |
|
Asset Fair |
|
Valuation |
|
Unobservable |
|
|
|
|
| |
|
Value |
|
Technique |
|
Inputs |
|
Range % (Weighted Average) |
|
| December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
| Collateral dependent loans |
|
$ |
303 |
|
Sales comparison approach |
|
Adjustment for differences between comparable sales |
|
|
2.0 to 41.0 (37.5) |
|
| |
|
|
|
|
Income approach |
|
Capitalization rate |
|
|
7.5 to 8.5 (8.4) |
|
|
| Fair Value, by Balance Sheet Grouping [Table Text Block] |
| |
Level in |
|
March 31, 2024 |
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|
December 31, 2023 |
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| |
Fair Value |
|
Carrying |
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Fair |
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|
Carrying |
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|
Fair |
|
| |
Hierarchy |
|
Amount |
|
|
Value |
|
|
Amount |
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|
Value |
|
| Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and due from banks |
Level 1 |
|
$ |
27,081 |
|
|
$ |
27,081 |
|
|
$ |
32,317 |
|
|
$ |
32,317 |
|
| Federal funds sold and other short-term investments |
Level 1 |
|
|
331,400 |
|
|
|
331,400 |
|
|
|
418,035 |
|
|
|
418,035 |
|
| Securities held to maturity - U.S. Treasury |
Level 2 |
|
|
221,211 |
|
|
|
213,266 |
|
|
|
251,229 |
|
|
|
242,709 |
|
| Securities held to maturity - tax-exempt and municipal |
Level 3 |
|
|
79,540 |
|
|
|
78,385 |
|
|
|
80,294 |
|
|
|
79,389 |
|
| FHLB stock |
Level 3 |
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
| Loans, net |
Level 2 |
|
|
1,324,768 |
|
|
|
1,299,904 |
|
|
|
1,320,641 |
|
|
|
1,308,900 |
|
| Bank owned life insurance |
Level 3 |
|
|
54,535 |
|
|
|
54,535 |
|
|
|
54,249 |
|
|
|
54,249 |
|
| Accrued interest receivable |
Level 2 |
|
|
10,266 |
|
|
|
10,266 |
|
|
|
8,976 |
|
|
|
8,976 |
|
| Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
Level 2 |
|
|
(2,284,401 |
) |
|
|
(2,286,250 |
) |
|
|
(2,415,730 |
) |
|
|
(2,417,784 |
) |
| Other borrowed funds |
Level 2 |
|
|
(20,000 |
) |
|
|
(19,566 |
) |
|
|
(30,000 |
) |
|
|
(29,354 |
) |
| Accrued interest payable |
Level 2 |
|
|
(687 |
) |
|
|
(687 |
) |
|
|
(672 |
) |
|
|
(672 |
) |
| Off-balance sheet credit-related items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loan commitments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|