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Note 7 - Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

						March 31, 2025
						Fair Value Measurements at Reporting Date Using
		Total Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Recurring fair value measurements: Assets
Investment securities:
Available-for-sale:
Federal agency obligations		$	102,761			$	-			$	102,761			$	-
Residential mortgage pass-through securities			388,349				-				388,349				-
Commercial mortgage pass-through securities			21,051				-				21,051				-
Obligations of U.S. states and political subdivision			118,657				-				112,020				6,637
Corporate bonds and notes			5,004				-				5,004				-
Asset-backed securities			859				-				859				-
Other securities			125				125				-				-
Total available-for-sale			636,806				125				630,044				6,637
Equity securities			18,859				9,893				8,966				-
Derivatives			28,914				-				28,914				-
Total assets		$	684,579			$	10,018			$	667,924			$	6,637

						December 31, 2024
						Fair Value Measurements at Reporting Date Using
		Total Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Recurring fair value measurements: Assets
Investment securities:
Available-for-sale:
Federal agency obligations		$	84,670			$	-			$	84,670			$	-
Residential mortgage pass- through securities			378,838				-				378,838				-
Commercial mortgage pass-through securities			20,892				-				20,892				-
Obligations of U.S. states and political subdivision			122,404				-				115,878				6,526
Corporate bonds and notes			4,987				-				4,987				-
Asset-backed securities			885				-				885				-
Other securities			171				171				-				-
Total available-for-sale		$	612,847			$	171			$	606,150			$	6,526
Equity securities			20,092				9,739				10,353				-
Derivatives			37,398				-				37,398				-
Total assets		$	670,337			$	9,910			$	653,901			$	6,526

Fair Value Measurements, Nonrecurring [Table Text Block]

						Fair Value Measurements at Reporting Date Using
Assets measured at fair value on a nonrecurring basis:		March 31, 2025				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent loans:		(dollars in thousands)
Commercial		$	732			$	-			$	-			$	732
Commercial real estate			633				-				-				633

						Fair Value Measurements at Reporting Date Using
Assets measured at fair value on a nonrecurring basis:		December 31, 2024				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent loans:		(dollars in thousands)
Commercial		$	726			$	-			$	-			$	726
Commercial real estate			2,913				-				-				2,913

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Municipal Securities
		(dollars in thousands)
Beginning balance, January 1, 2025		$	6,526
Principal paydowns			(78	)
Change in unrealized gain (loss)			189
Ending balance, March 31, 2025		$	6,637

		Municipal Securities
		(dollars in thousands)
Beginning balance, January 1, 2024		$	7,122
Principal paydowns			(304	)
Changes in unrealized loss			(292	)
Ending balance, December 31, 2024		$	6,526

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

March 31, 2025
		Fair Value			Valuation Techniques		Unobservable Input		Rate
Securities available-for-sale:					(dollars in thousands)
Municipal securities		$	6,637		Discounted cash flows		Discount rate			4.7	%

December 31, 2024
		Fair Value			Valuation Techniques		Unobservable Input		Rate
Securities available-for-sale:					(dollars in thousands)
Municipal securities		$	6,526		Discounted cash flows		Discount rate			5.0	%

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

March 31, 2025
(dollars in thousands)		Fair Value				Valuation Techniques	Unobservable Input		Range (weighted average)
Commercial loans		$	732			Appraisals of collateral value	Adjustment for comparable sales		-10% to +5% (-4.3%)
Commercial real estate loans			633			Appraisals of collateral value	Adjustment for comparable sales		-10% to +5% (-2.17%)

December 31, 2024
(dollars in thousands)		Fair Value				Valuation Techniques	Unobservable Input		Range (weighted average)
Commercial loans		$	726			Appraisals of collateral value	Adjustment for comparable sales			-10% to +5% (-4.3%)
Commercial real estate loans			2,913			Appraisals of collateral value	Adjustment for comparable sales		-40% to +0% (-14.3%)

Fair Value, by Balance Sheet Grouping [Table Text Block]

										Fair Value Measurements
		Carrying Amount				Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(dollars in thousands)
March 31, 2025
Financial assets:
Cash and due from banks		$	292,603			$	292,603			$	292,603			$	-			$	-
Securities available-for-sale			636,806				636,806				125				630,044				6,637
Restricted investments in bank stocks			37,031				n/a				n/a				n/a				n/a
Equity securities			18,859				18,859				9,893				8,966				-
Net loans			8,118,731				7,944,604				-				-				7,944,604
Derivatives - interest rate contracts			28,914				28,914				-				28,914				-
Accrued interest receivable			46,740				46,740				-				5,271				41,469
			.
Financial liabilities:
Noninterest-bearing deposits			1,319,196				1,319,196				1,319,196				-				-
Interest-bearing deposits			6,448,034				6,434,530				3,897,811				2,536,719				-
Borrowings			613,053				612,806				-				612,806				-
Subordinated debentures			80,071				79,795				-				79,795				-
Accrued interest payable			9,514				9,514				-				9,514				-
December 31, 2024
Financial assets:
Cash and due from banks		$	356,488			$	356,488			$	356,488			$	-			$	-
Investment securities available-for-sale			612,847				612,847				171				606,150				6,526
Restricted investment in bank stocks			40,449				n/a				n/a				n/a				n/a
Equity securities			20,092				20,092				9,739				10,353				-
Net loans			8,192,125				7,980,038				-				-				7,980,038
Derivatives - interest rate contracts			37,398				37,398				-				37,398				-
Accrued interest receivable			45,498				45,498				-				5,444				40,054
Financial liabilities:
Noninterest-bearing deposits			1,422,044				1,422,044				1,422,044				-				-
Interest-bearing deposits			6,398,070				6,387,896				3,840,870				2,547,026				-
Borrowings			688,064				687,273				-				687,273				-
Subordinated debentures			79,944				77,968				-				77,968				-
Accrued interest payable			9,320				9,320				-				9,320				-

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