Note 5 - Fair Value (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Notes Tables |
|
| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
| |
|
Fair Value |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
| December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Available for sale securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury and federal agency securities |
|
$ |
245,492 |
|
|
$ |
— |
|
|
$ |
245,492 |
|
|
$ |
— |
|
| U.S. 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 |
|
|
|
— |
|
|
|
11,297 |
|
|
|
— |
|
| Other equity securities |
|
|
1,318 |
|
|
|
— |
|
|
|
1,318 |
|
|
|
— |
|
| Loans held for sale |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Interest rate swaps |
|
|
4,856 |
|
|
|
— |
|
|
|
4,856 |
|
|
|
— |
|
| Total assets measured at fair value on recurring basis |
|
$ |
514,972 |
|
|
$ |
— |
|
|
$ |
514,972 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate swaps |
|
$ |
(4,856 |
) |
|
$ |
— |
|
|
$ |
(4,856 |
) |
|
$ |
— |
|
| Total liabilities measured at fair value on recurring basis |
|
$ |
(4,856 |
) |
|
$ |
— |
|
|
$ |
(4,856 |
) |
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 Value |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
| December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Collateral-dependent loans |
|
$ |
303 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
303 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 % (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) |
|
| |
|
Asset Fair Value |
|
Valuation Technique |
|
Unobservable Inputs |
|
Range % (Weighted Average) |
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
| Impaired loans |
|
$ |
328 |
|
Sales comparison approach |
|
Adjustment for differences between comparable sales |
|
|
1.5 to 20.0 (18.3) |
|
| |
|
|
|
|
Income approach |
|
Capitalization rate |
|
|
9.5 to 11.0 (10.9) |
|
|
| Fair Value, by Balance Sheet Grouping [Table Text Block] |
| |
|
|
2023 |
|
|
2022 |
|
| |
Level in Fair Value Hierarchy |
|
Carrying Amount |
|
|
Fair Value |
|
|
Carrying Amount |
|
|
Fair Value |
|
| Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and due from banks |
Level 1 |
|
$ |
32,317 |
|
|
$ |
32,317 |
|
|
$ |
51,215 |
|
|
$ |
51,215 |
|
| Federal funds sold and other short-term investments |
Level 1 |
|
|
418,035 |
|
|
|
418,035 |
|
|
|
703,955 |
|
|
|
703,955 |
|
| Securities held to maturity - U.S. Treasury |
Level 2 |
|
|
251,229 |
|
|
|
242,709 |
|
|
|
251,307 |
|
|
|
237,630 |
|
| Securities held to maturity - tax-exempt and muni |
Level 3 |
|
|
80,294 |
|
|
|
79,389 |
|
|
|
97,458 |
|
|
|
95,020 |
|
| FHLB stock |
Level 3 |
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
|
|
10,211 |
|
| Loans, net |
Level 2 |
|
|
1,320,641 |
|
|
|
1,308,900 |
|
|
|
1,162,135 |
|
|
|
1,131,387 |
|
| Bank owned life insurance |
Level 3 |
|
|
54,249 |
|
|
|
54,249 |
|
|
|
53,345 |
|
|
|
53,345 |
|
| Accrued interest receivable |
Level 2 |
|
|
8,976 |
|
|
|
8,976 |
|
|
|
7,606 |
|
|
|
7,606 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
Level 2 |
|
|
(2,415,730 |
) |
|
|
(2,417,784 |
) |
|
|
(2,615,142 |
) |
|
|
(2,615,860 |
) |
| Other borrowed funds |
Level 2 |
|
|
(30,000 |
) |
|
|
(29,354 |
) |
|
|
(30,000 |
) |
|
|
(28,666 |
) |
| Accrued interest payable |
Level 2 |
|
|
(672 |
) |
|
|
(672 |
) |
|
|
(114 |
) |
|
|
(114 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Off-balance sheet credit-related items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loan commitments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|