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

9 Months Ended

Sep. 30, 2025

Notes Tables

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

						September 30, 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		$	399,128			$	-			$	399,128			$	-
Residential mortgage pass-through securities			607,899				-				607,899				-
Commercial mortgage pass-through securities			26,807				-				26,807				-
Obligations of U.S. states and political subdivisions			211,765				-				205,193				6,572
Corporate bonds and notes			5,999				-				5,999				-
Asset-backed securities			550				-				550				-
Other securities			54				54				-				-
Total available-for-sale			1,252,202				54				1,245,576				6,572
Equity securities			20,133				10,022				10,111				-
Derivatives			19,505				-				19,505				-
Total assets		$	1,291,840			$	10,076			$	1,275,192			$	6,572

						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 subdivisions			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:		September 30, 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		$	723			$	-			$	-			$	723
Commercial real estate			617				-				-				617

						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]

		Obligations of U.S. states and political subdivisions
		(dollars in thousands)
Beginning balance, January 1, 2025		$	6,526
Principal paydowns			(235	)
Change in unrealized gain (loss)			281
Ending balance, September 30, 2025		$	6,572

		Obligations of U.S. states and political subdivisions
		(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]

September 30, 2025
		Fair Value			Valuation Techniques		Unobservable Input		Rate
Securities available-for-sale:					(dollars in thousands)
Obligations of U.S. states and political subdivisions		$	6,572		Discounted cash flows		Discount rate			4.6	%

December 31, 2024
		Fair Value			Valuation Techniques		Unobservable Input		Rate
Securities available-for-sale:					(dollars in thousands)
Obligations of U.S. states and political subdivisions		$	6,526		Discounted cash flows		Discount rate			5.0	%

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

September 30, 2025
(dollars in thousands)		Fair Value				Valuation Techniques	Unobservable Input		Range (weighted average)
Commercial loans		$	723			Appraisals of collateral value	Adjustment for comparable sales		-5% to +15% (+8.1%)
Commercial real estate loans			617			Appraisals of collateral value	Adjustment for comparable sales		-10% to +5% (-2.2%)

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)
September 30, 2025
Financial assets:
Cash and due from banks		$	542,734			$	542,734			$	542,734			$	-			$	-
Securities available-for-sale			1,252,202				1,252,202				54				1,245,576				6,572
Restricted investments in bank stocks			51,516				n/a				n/a				n/a				n/a
Equity securities			20,133				20,133				10,022				10,111				-
Net loans			11,147,137				11,049,532				-				-				11,049,532
Derivatives - interest rate contracts			19,505				19,505				-				19,505				-
Accrued interest receivable			60,630				60,630				-				5,168				55,462
			.
Financial liabilities:
Noninterest-bearing deposits			2,513,102				2,513,102				2,513,102				-				-
Interest-bearing deposits			8,856,193				8,848,658				5,878,241				2,970,417				-
Borrowings			833,443				833,702				-				833,702				-
Subordinated debentures			201,677				202,734				-				202,734				-
Accrued interest payable			18,035				18,035				-				18,035				-
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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