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Note 5 - Financial Instruments

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Financial Instruments Disclosure [Text Block]

Note 5 – Financial Instruments

Financial instruments as of the dates indicated were as follows:

										Quoted Prices
										In Active				Significant
										Markets for				Other				Significant
										Identical				Observable				Unobservable
(Dollars in thousands)		Carrying				Estimated				Assets				Inputs				Inputs
		Amount				Fair Value				(Level 1)				(Level 2)				(Level 3)
September 30, 2021
Assets
Cash and cash equivalents		$	59,780			$	59,780			$	59,780			$	-			$	-
Equity securities at fair value			8,419				8,419				6,723				-				1,696
Securities available for sale			1,028,115				1,028,115				-				1,009,082				19,033
Federal Home Loan Bank and Federal
Reserve Bank stock			8,004				8,004				-				8,004				-
Loans held for sale			7,505				7,730				-				7,730				-
Loans to other financial institutions			38,728				38,728				-				38,728				-
Loans, net			980,602				978,685				-				-				978,685
Accrued interest receivable			8,969				8,969				-				8,969				-
Interest rate lock commitments			438				438				-				438				-

Liabilities
Noninterest-bearing deposits			543,165				543,165				-				543,165				-
Interest-bearing deposits			1,468,985				1,469,300				-				1,469,300				-
Subordinated debentures			34,956				34,415				-				34,415				-
Accrued interest payable			202				202				-				202				-

December 31, 2020
Assets
Cash and due from banks		$	79,519			$	79,519			$	79,519			$	-			$	-
Equity securities at fair value			2,896				2,896				1,411				-				1,485
Securities available for sale			574,787				574,787				-				563,364				11,423
Federal Home Loan Bank and Federal
Reserve Bank stock			8,004				8,004				-				8,004				-
Loans held for sale			12,921				13,350				-				13,350				-
Loans to other financial institutions			35,209				35,209				-				35,209				-
Loans, net			1,062,075				1,057,786				-				-				1,057,786
Accrued interest receivable			6,521				6,521				-				6,521				-
Interest rate lock commitments			842				842				-				842				-

Liabilities
Noninterest-bearing deposits			477,654				477,654				-				477,654				-
Interest-bearing deposits			1,196,924				1,197,964				-				1,197,964				-
Borrowings			9,327				9,143				-				9,143				-
Subordinated debentures			3,089				3,089				-				3,089				-
Accrued interest payable			183				183				-				183				-