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Note 12 - Fair Value Measurements and Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

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

(In Thousands)
						March 31, 2020
		Quoted Prices				Other
		in Active				Observable				Unobservable				Total
		Markets				Inputs				Inputs				Fair
		(Level 1)				(Level 2)				(Level 3)				Value
Recurring fair value measurements
AVAILABLE-FOR-SALE DEBT SECURITIES:
Obligations of U.S. Government agencies		$	0			$	16,408			$	0			$	16,408
Obligations of states and political subdivisions:
Tax-exempt			0				81,072				0				81,072
Taxable			0				37,074				0				37,074
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies:
Residential pass-through securities			0				55,752				0				55,752
Residential collateralized mortgage obligations			0				103,556				0				103,556
Commercial mortgage-backed securities			0				48,554				0				48,554
Total available for sale debt Securities			0				342,416				0				342,416
Marketable equity security			994				0				0				994
Servicing rights			0				0				1,226				1,226
Total recurring fair value measurements		$	994			$	342,416			$	1,226			$	344,636
Nonrecurring fair value measurements
Impaired loans with a valuation allowance		$	0			$	0			$	6,709			$	6,709
Valuation allowance			0				0				(2,227	)			(2,227	)
Impaired loans, net			0				0				4,482				4,482
Foreclosed assets held for sale			0				0				1,685				1,685
Total nonrecurring fair value measurements		$	0			$	0			$	6,167			$	6,167

(In Thousands)
						December 31, 2019
		Quoted Prices				Other
		in Active				Observable				Unobservable				Total
		Markets				Inputs				Inputs				Fair
		(Level 1)				(Level 2)				(Level 3)				Value
Recurring fair value measurements
AVAILABLE-FOR-SALE DEBT SECURITIES:
Obligations of U.S. Government agencies		$	0			$	17,000			$	0			$	17,000
Obligations of states and political subdivisions:
Tax-exempt			0				70,760				0				70,760
Taxable			0				36,303				0				36,303
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies:
Residential pass-through securities			0				59,210				0				59,210
Residential collateralized mortgage obligations			0				114,723				0				114,723
Commercial mortgage-backed securities			0				48,727				0				48,727
Total available-for-sale debt securities			0				346,723				0				346,723
Marketable equity security			979				0				0				979
Servicing rights			0				0				1,277				1,277
Total recurring fair value measurements		$	979			$	346,723			$	1,277			$	348,979
Nonrecurring fair value measurements
Impaired loans with a valuation allowance		$	0			$	0			$	3,375			$	3,375
Valuation allowance			0				0				(1,051	)			(1,051	)
Impaired loans, net			0				0				2,324				2,324
Foreclosed assets held for sale			0				0				2,886				2,886
Total nonrecurring fair value measurements		$	0			$	0			$	5,210			$	5,210

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

(In Thousands)
		3 Months Ended March 31,
		2020				2019
Servicing rights balance, beginning of period		$	1,277			$	1,404
Issuances of servicing rights			75				20
Unrealized losses included in earnings			(126	)			(77	)
Servicing rights balance, end of period		$	1,226			$	1,347

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

(In Thousands)
		Fair Value		March 31, 2020								December 31, 2019
		Hierarchy		Carrying				Fair				Carrying				Fair
		Level		Amount				Value				Amount				Value
Financial assets:
Cash and cash equivalents		Level 1		$	28,598			$	28,598			$	31,122			$	31,122
Certificates of deposit		Level 2			4,080				4,249				4,080				4,227
Restricted equity securities (included in Other Assets)		Level 2			9,396				9,396				10,321				10,321
Loans, net		Level 3			1,156,143				1,172,452				1,172,386				1,181,000
Accrued interest receivable		Level 2			5,192				5,192				5,001				5,001
Financial liabilities:
Deposits with no stated maturity		Level 2			893,596				893,596				877,965				877,965
Time deposits		Level 2			356,316				358,248				374,695				376,738
Short-term borrowings		Level 2			37,607				37,540				86,220				86,166
Long-term borrowings		Level 2			72,944				72,797				52,127				52,040
Accrued interest payable		Level 2			369				369				311				311

Fair Value, Nonrecurring [Member]

Notes Tables

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

																	Weighte d
						Valuation											Average
		Balance at				Allowance at				Fair Value at			Valuation		Unobservable		Discount at
Asset		3 /31/ 20				3 /31/ 20				3 /31/ 20			Technique		Inputs		3 /31/ 20
Impaired loans:
Residential mortgage loans - first and junior liens		$	730			$	194			$	536		Sales comparison		Discount to appraised value			32	%
Commercial:
Commercial and industrial			3,572				1,265				2,307		Liquidation of assets		Discount to appraised value			35	%
Commercial and industrial			815				60				755		Liquidation of accounts receivable		Discount to borrower's financial statement value			16	%
Commercial construction and land			1,255				674				581		Sales comparison		Discount to appraised value			48	%
Loans secured by farmland			337				34				303		Sales comparison		Discount to appraised value			42	%
Total impaired loans		$	6,709			$	2,227			$	4,482
Foreclosed assets held for sale - real estate:
Residential (1-4 family)		$	130			$	0			$	130		Sales comparison		Discount to appraised value			61	%
Land			70				0				70		Sales comparison		Discount to appraised value			53	%
Commercial real estate			1,485				0				1,485		Sales comparison		Discount to appraised value			34	%
Total foreclosed assets held for sale		$	1,685			$	0			$	1,685

																	Weighted
						Valuation											Average
		Balance at				Allowance at				Fair Value at			Valuation		Unobservable		Discount at
Asset		12/31/19				12/31/19				12/31/19			Technique		Inputs		12/31/19
Impaired loans:
Residential mortgage loans - first and junior liens		$	732			$	176			$	556		Sales comparison		Discount to appraised value			30	%
Commercial:
Commercial and industrial			106				89				17		Sales comparison		Discount to appraised value			69	%
Commercial and industrial			798				60				738		Liquidation of accounts receivable		Discount to borrower's financial statement value			15	%
Commercial construction and land			1,261				678				583		Sales comparison		Discount to appraised value			47	%
Loans secured by farmland			478				48				430		Sales comparison		Discount to appraised value			46	%
Total impaired loans		$	3,375			$	1,051			$	2,324
Foreclosed assets held for sale - real estate:
Residential (1-4 family)		$	292			$	0			$	292		Sales comparison		Discount to appraised value			46	%
Land			70				0				70		Sales comparison		Discount to appraised value			53	%
Commercial real estate			2,524				0				2,524		Sales comparison		Discount to appraised value			39	%
Total foreclosed assets held for sale		$	2,886			$	0			$	2,886

Fair Value, Recurring [Member]

Notes Tables

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

			Fair Value at
			3/31/20				Valuation		Unobservable			Method or Value As of
Asset			(In Thousands)				Technique		Input(s)			3/31/20
Servicing rights			$	1,226			Discounted cash flow		Discount rate				12.50	%		Rate used through modeling period
									Loan prepayment speeds				213.00	%		Weighted-average PSA
									Servicing fees				0.25	%		of loan balances
													4.00	%		of payments are late
													5.00	%		late fees assessed
												$	1.94			Miscellaneous fees per account per month
									Servicing costs			$	6.00			Monthly servicing cost per account
												$	24.00			Additional monthly servicing cost per loan on loans more than 30 days delinquent
													1.50	%		of loans more than 30 days delinquent
													3.00	%		annual increase in servicing costs

			Fair Value at
			12/31/19				Valuation		Unobservable			Method or Value As of
Asset			(In Thousands)				Technique		Input(s)			12/31/19
Servicing rights			$	1,277			Discounted cash flow		Discount rate				12.50	%		Rate used through modeling period
									Loan prepayment speeds				183.00	%		Weighted-average PSA
									Servicing fees				0.25	%		of loan balances
													4.00	%		of payments are late
													5.00	%		late fees assessed
												$	1.94			Miscellaneous fees per account per month
									Servicing costs			$	6.00			Monthly servicing cost per account
												$	24.00			Additional monthly servicing cost per loan on loans more than 30 days delinquent
													1.50	%		of loans more than 30 days delinquent
													3.00	%		annual increase in servicing costs

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