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Note 8 - Fair Value (Tables)

9 Months Ended

Sep. 30, 2025

Notes Tables

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

						Fair Value Measurements at September 30, 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		$	94,952			$	0			$	94,952			$	0
State and political subdivisions			495,794				0				495,794				0
Corporate bonds			16,471				0				15,513				958
Mortgage-backed securities-residential			535,759				0				535,759				0
Collateralized mortgage obligations			156,652				0				156,652				0
Small Business Administration			2,138				0				2,138				0
Total investment securities		$	1,301,766			$	0			$	1,300,808			$	958
Equity securities			368				368				0				0
Loans held for sale			4,975				0				4,975				0
Interest rate swaps			1,075				0				1,075				0
Interest rate lock commitments			165				0				165				0
Forward sales contract			1				0				1				0
Financial Liabilities
Interest rate swaps			1,075				0				1,075				0
Fair value hedge derivative			542				0				542				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
Forward sales contract			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								Nine Months Ended
		September 30,								September 30,
(In Thousands of Dollars)		2025				2024				2025				2024
Beginning Balance		$	1,419			$	1,397			$	1,409			$	1,340
Transfers between levels			0				0				0				0
Acquired and/or purchased			0				0				0				0
Discount accretion (premium amortization)			15				13				44				39
Repayments, calls and maturities			(430	)			0				(430	)			0
Changes in unrealized gains (losses)			(46	)			8				(65	)			39
Ending Balance		$	958			$	1,418			$	958			$	1,418

Fair Value Measurements, Nonrecurring [Table Text Block]

						Fair Value Measurements at September 30, 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		$	14,014			$	0			$	0			$	14,014
Other			6,801				0				0				6,801
Commercial and industrial			2,165				0				0				2,165
1–4 family residential			760				0				0				760
Consumer indirect			35				0				0				35
Mortgage servicing rights			986				0				986				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
September 30, 2025		Fair value			Technique(s)		Input(s)		Average)
Individually evaluated loans
Commercial real estate		$	20,815		Income Approach		Adjustment for difference between cap rates of comparable sales		(54.18%) - 64.63% (42.16%)
Commercial			2,165		Quoted price for collateral		Offer Price		10.09%
Residential			760		Sales comparison		Adjustment for differences between comparable sales		(19.40%) - 24.95% (10.22%)
Consumer indirect			35		Sales comparison		Adjustment for differences between comparable sales		(0.59%) - 0.59% 0.00%

									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 September 30, 2025 Using:
		Carrying
(In Thousands of Dollars)		Amount				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	92,345			$	23,812			$	68,533			$	0			$	92,345
Restricted stock			27,469				n/a				n/a				n/a				n/a
Loans, net			3,298,252				0				0				3,210,416				3,210,416
Financial liabilities
Deposits			4,400,515				3,609,979				790,541				0				4,400,520
Short-term borrowings			235,000				0				235,000				0				235,000
Long-term borrowings			86,581				0				79,296				0				79,296

						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
Restricted 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

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