XML 50 R35.htm IDEA: XBRL DOCUMENT v3.25.1
Note 8 - Fair Value (Tables)
3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
      

Fair Value Measurements at March 31, 2025 Using:

 
      

Quoted

         
      

Prices in

  

Significant

     
      

Active Markets

  

Other

  

Significant

 
      

for Identical

  

Observable

  

Unobservable

 
  

Carrying

  

Assets

  

Inputs

  

Inputs

 

(In Thousands of Dollars)

 

Value

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

Financial Assets

                

Investment securities available-for sale

                

U.S. Treasury and U.S. government sponsored entities

 $108,059  $0  $108,059  $0 

State and political subdivisions

  490,791   0   490,791   0 

Corporate bonds

  17,200   0   15,788   1,412 

Mortgage-backed securities-residential

  517,369   0   517,369   0 

Collateralized mortgage obligations

  145,625   0   145,625   0 

Small Business Administration

  2,369   0   2,369   0 

Total investment securities

  1,281,413   0   1,280,001   1,412 
                 

Equity securities

  299   299   0   0 

Loans held for sale

  2,973   0   2,973   0 

Interest rate swaps

  2,574   0   2,574   0 

Interest rate lock commitments

  56   0   56   0 

Financial Liabilities

                

Interest rate swaps

  2,574   0   2,574   0 

Fair value hedge derivative

  647   0   647   0 

Mortgage banking derivative

  14   0   14   0 
      

Fair Value Measurements at December 31, 2024 Using:

 
      

Quoted

         
      

Prices in

  

Significant

     
      

Active Markets

  

Other

  

Significant

 
      

for Identical

  

Observable

  

Unobservable

 
  

Carrying

  

Assets

  

Inputs

  

Inputs

 

(In Thousands of Dollars)

 

Value

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

Financial Assets

                

Investment securities available-for sale

                

U.S. Treasury and U.S. government sponsored entities

 $115,107  $0  $115,107  $0 

State and political subdivisions

  504,880   0   504,880   0 

Corporate bonds

  17,448   0   16,039   1,409 

Mortgage-backed securities-residential

  492,867   0   492,867   0 

Collateralized mortgage obligations

  133,776   0   133,776   0 

Small Business Administration

  2,475   0   2,475   0 

Total investment securities

  1,266,553   0   1,265,144   1,409 
                 

Equity securities

  277   277   0   0 

Loans held for sale

  5,005   0   5,005   0 

Interest rate swaps

  3,766   0   3,766   0 

Interest rate lock commitments

  19   0   19   0 

Mortgage banking derivative

  17   0   17   0 

Financial Liabilities

                

Interest rate swaps

  3,766   0   3,766   0 

Fair value hedge derivative

  168   0   168   0 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
  

Three Months ended

 
  

March 31,

 

(In Thousands of Dollars)

 

2025

  

2024

 

Beginning Balance

 $1,409  $1,340 

Transfers between levels

  0   0 

Acquired and/or purchased

  0   0 

Discount accretion (premium amortization)

  14   13 

Repayments, calls and maturities

  0   0 

Changes in unrealized gains (losses)

  (11)  (13)

Ending Balance

 $1,412  $1,340 
Fair Value Measurements, Nonrecurring [Table Text Block]
      

Fair Value Measurements at March 31, 2025 Using:

 
      

Quoted

         
      

Prices in

  

Significant

     
      

Active Markets

  

Other

  

Significant

 
      

for Identical

  

Observable

  

Unobservable

 
  

Carrying

  

Assets

  

Inputs

  

Inputs

 

(In Thousands of Dollars)

 

Value

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

Financial Assets

                

Individually evaluated loans

                

Commercial real estate

                

Non-owner occupied

 $6,471  $0  $0  $6,470 

Other

  1,038   0   0   1,038 

Commercial and industrial

  2,223   0   0   2,223 

1–4 family residential

  370   0   0   370 

Mortgage servicing rights

  876   0   876   0 
      

Fair Value Measurements at December 31, 2024 Using:

 
      

Quoted

         
      

Prices in

  

Significant

     
      

Active Markets

  

Other

  

Significant

 
      

for Identical

  

Observable

  

Unobservable

 
  

Carrying

  

Assets

  

Inputs

  

Inputs

 

(In Thousands of Dollars)

 

Value

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

Financial Assets

                

Individually evaluated loans

                

Commercial real estate

                

Non-owner occupied

 $7,286  $0  $0  $7,286 

Commercial and industrial

  2,418   0   0   2,418 

1–4 family residential

  1,132   0   0   1,132 

Mortgage servicing rights

  403   0   403   0 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
         

Range

     

Valuation

 

Unobservable

 

(Weighted

March 31, 2025

 

Fair value

 

Technique(s)

 

Input(s)

 

Average)

Individually evaluated loans

         

Commercial real estate

 $7,509 

Income Approach

 

Adjustment for difference between cap rates of comparable sales

 (55.38%) - 68.24% (40.25%)

Commercial

  2,223 

Quoted price for collateral

 

Offer Price

 12.61%

Residential

  370 

Sales comparison

 

Adjustment for differences between comparable sales

 (19.11%) - 13.04% 3.62%
         

Range

     

Valuation

 

Unobservable

 

(Weighted

December 31, 2024

 

Fair value

 

Technique(s)

 

Input(s)

 

Average)

Individually evaluated loans

         

Commercial real estate

 $7,286 

Income approach

 

Adjustment for difference between cap rates of comparable sales

 (56.03%) - 69.02% (40.71%)

Commercial

  2,418 

Quoted price for collateral

 

Offer Price

 6.67%

Residential

  1,132 

Sales comparison

 

Adjustment for differences between comparable sales

 (8.91%) - (6.22%) (7.16%)
Fair Value Disclosure of Asset and Liability Not Measured at Fair Value [Table Text Block]
     Fair Value Measurements at March 31, 2025 Using: 
  

Carrying

    

(In Thousands of Dollars)

 

Amount

  

Level 1

  

Level 2

  

Level 3

  

Total

 

Financial assets

                    

Cash and cash equivalents

 $113,256  $18,464  $94,792  $0  $113,256 

Regulatory stock

  24,328   n/a   n/a   n/a   n/a 

Loans, net

  3,215,842   0   0   3,097,826   3,097,826 

Financial liabilities

                    

Deposits

  4,481,288   3,581,812   897,733   0   4,479,545 

Short-term borrowings

  102,000   0   102,000   0   102,000 

Long-term borrowings

  86,275   0   75,892   0   75,892 
     Fair Value Measurements at December 31, 2024 Using: 
  

Carrying

    

(In Thousands of Dollars)

 

Amount

  

Level 1

  

Level 2

  

Level 3

  

Total

 

Financial assets

                    

Cash and cash equivalents

 $85,738  $20,426  $65,312  $0  $85,738 

Regulatory stock

  30,669   n/a   n/a   n/a   n/a 

Loans, net

  3,232,483   0   0   3,082,292   3,082,292 

Financial liabilities

                    

Deposits

  4,266,779   3,429,116   835,967   0   4,265,083 

Short-term borrowings

  305,000   0   305,000   0   305,000 

Long-term borrowings

  86,150   0   78,721   0   78,721