XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.19.1

Note 11 - Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Notes Tables |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  | Fair Value Measurements at |
|  | March 31, 2019 |
|  | Carrying |  |  | Estimated |  |  | Level |  |  | Level |  |  | Level |
|  | Value |  |  | Fair Value |  |  | 1 |  |  | 2 |  |  | 3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Short-Term Investments |  | $ | 85,705 |  |  | $ | 85,705 |  |  | $ | 85,705 |  |  | $ | - |  |  | $ | - |
Investment Securities Available for Sale |  |  | 357,889 |  |  |  | 357,889 |  |  |  | - |  |  |  | 353,992 |  |  |  | 3,897 |
Federal Home Loan Bank Stock |  |  | 2,782 |  |  |  | 2,782 |  |  |  | 2,782 |  |  |  | - |  |  |  | - |
Loans, Net |  |  | 772,889 |  |  |  | 769,078 |  |  |  | - |  |  |  | 767,370 |  |  |  | 1,708 |
Bank-Owned Life Insurance |  |  | 17,184 |  |  |  | 17,184 |  |  |  | 17,184 |  |  |  | - |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 1,111,678 |  |  |  | 1,113,541 |  |  |  | 773,179 |  |  |  | 340,362 |  |  |  | - |
Subordinated Debentures |  |  | 24,229 |  |  |  | 24,229 |  |  |  | - |  |  |  | 24,229 |  |  |  | - |
Other Borrowed Money |  |  | 39,000 |  |  |  | 39,112 |  |  |  | - |  |  |  | 39,112 |  |  |  | - |
|  | Fair Value Measurements at |
|  | December 31, 2018 |
|  | Carrying |  |  | Estimated |  |  | Level |  |  | Level |  |  | Level |
|  | Value |  |  | Fair Value |  |  | 1 |  |  | 2 |  |  | 3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Short-Term Investments |  | $ | 60,155 |  |  | $ | 60,155 |  |  | $ | 60,155 |  |  | $ | - |  |  | $ | - |
Investment Securities Available for Sale |  |  | 353,066 |  |  |  | 353,066 |  |  |  | - |  |  |  | 348,788 |  |  |  | 4,278 |
Federal Home Loan Bank Stock |  |  | 2,978 |  |  |  | 2,978 |  |  |  | 2,978 |  |  |  | - |  |  |  | - |
Loans, Net |  |  | 774,249 |  |  |  | 769,809 |  |  |  | - |  |  |  | 766,457 |  |  |  | 3,352 |
Bank-Owned Life Insurance |  |  | 17,598 |  |  |  | 17,598 |  |  |  | 17,598 |  |  |  | - |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 1,085,125 |  |  |  | 1,086,503 |  |  |  | 744,094 |  |  |  | 342,409 |  |  |  | - |
Subordinated Debentures |  |  | 24,229 |  |  |  | 24,229 |  |  |  | - |  |  |  | 24,229 |  |  |  | - |
Other Borrowed Money |  |  | 44,000 |  |  |  | 44,032 |  |  |  | - |  |  |  | 44,032 |  |  |  | - |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  |  |  |  |  | Quoted Prices in |  |  |  |  |  |  | Significant |
|  |  |  |  |  | Active Markets for |  |  | Significant Other |  |  | Unobservable |
|  | Total Fair |  |  | Identical Assets |  |  | Observable |  |  | Inputs |
March 31, 2019 |  | Value |  |  | (Level 1) |  |  | Inputs (Level 2) |  |  | (Level 3) |
Recurring Securities Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government Agencies Mortgage-Backed |  | $ | 351,138 |  |  | $ | - |  |  | $ | 347,456 |  |  | $ | 3,682 |
State, County and Municipal |  |  | 3,895 |  |  |  | - |  |  |  | 3,680 |  |  |  | 215 |
Corporate Bonds |  |  | 2,856 |  |  |  | - |  |  |  | 2,856 |  |  |  | - |
|  | $ | 357,889 |  |  | $ | - |  |  | $ | 353,992 |  |  | $ | 3,897 |
Nonrecurring |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired Loans |  | $ | 1,708 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,708 |
Other Real Estate |  | $ | 1,123 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,123 |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  |  |  |  |  | Quoted Prices in |  |  |  |  |  |  | Significant |
|  |  |  |  |  | Active Markets for |  |  | Significant Other |  |  | Unobservable |
|  | Total Fair |  |  | Identical Assets |  |  | Observable |  |  | Inputs |
December 31, 2018 |  | Value |  |  | (Level 1) |  |  | Inputs (Level 2) |  |  | (Level 3) |
Recurring Securities Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government Agencies Mortgage-Backed |  | $ | 346,205 |  |  | $ | - |  |  | $ | 342,142 |  |  | $ | 4,063 |
State, County and Municipal |  |  | 3,989 |  |  |  | - |  |  |  | 3,775 |  |  |  | 214 |
Corporate Bonds |  |  | 2,872 |  |  |  | - |  |  |  | 2,872 |  |  |  | - |
|  | $ | 353,066 |  |  | $ | - |  |  | $ | 348,789 |  |  | $ | 4,277 |
Nonrecurring |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired Loans |  | $ | 3,352 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,352 |
Other Real Estate |  | $ | 1,183 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,183 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
|  |  |  |  | Valuation |  | Unobservable |  | Range |
|  | March 31, 2019 |  | Techniques |  | Inputs |  | Weighted Avg |
Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate |  |  | 215 |  | Sales Comparison |  | Adjustment for Differences |  | (10.86)% | - | 6.70% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | (2.08)% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 0.00% | - | 25.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 12.50% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Commercial Real Estate |  |  | 1,166 |  | Income Approach |  | Capitalization Rate |  |  | 10.50% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 0.00% | - | 10.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 5.00% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Farmland |  |  | 327 |  | Sales Comparison |  | Adjustment for Differences |  | (71.00)% | - | (3.50)% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | (37.25)% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 10.00% | - | 80.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 45.00% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Other Real Estate Owned |  |  | 1,123 |  | Sales Comparison |  | Adjustment for Differences |  | (30.00)% | - | 25.02% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | (2.49)% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 9.82% | - | 99.39% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 38.12% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
|  |  |  |  | Income Approach |  | Discount Rate |  |  | 10.00% |  |
|  |  |  |  | Valuation |  | Unobservable |  | Range |
|  | December 31, 2018 |  | Techniques |  | Inputs |  | Weighted Avg |
Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial Construction |  | $ | 360 |  | Sales Comparison |  | Adjustment for Differences |  | (6.00)% | - | 1,975.00% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | 984.20% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 0.00% | - | 10.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 5.00% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Residential Real Estate |  |  | 213 |  | Sales Comparison |  | Adjustment for Differences |  | (10.86)% | - | 6.70% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | (2.08)% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 0.00% | - | 25.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 12.50% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Commercial Real Estate |  |  | 2,415 |  | Sales Comparison |  | Adjustment for Differences |  | (60.00)% | - | 80.00% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | 10.00% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 0.00% | - | 35.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 17.50% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
|  |  |  |  | Income Approach |  | Capitalization Rate |  |  | 10.13% |  |
Farmland |  |  | 328 |  | Sales Comparison |  | Adjustment for Differences |  | (71.00)% | - | (3.50)% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | (37.25)% |  |
|  |  |  |  |  |  | Management Adjustments for |  | 10.00% | - | 80.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 45.00% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Commercial |  |  | 36 |  | Sales Contract |  | Adjustment for Estimated Costs |  | 0.00% | - | 0.00% |
|  |  |  |  |  |  | to Sell |  |  | (0.00)% |  |
|  |  |  |  |  |  | Management Adjustment for |  | 0.00% | - | 15.00% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 15.00% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
Other Real Estate Owned |  |  | 1,183 |  | Sales Comparison |  | Adjustment for Differences |  | (30.00)% | - | 25.02% |
|  |  |  |  |  |  | Between the Comparable Sales |  |  | (2.49)% |  |
|  |  |  |  |  |  | Management Adjustment for |  | 9.82% | - | 99.39% |
|  |  |  |  |  |  | Age of Appraisals and/or Current |  |  | 35.26% |  |
|  |  |  |  |  |  | Market Conditions |  |  |  |  |
|  |  |  |  | Income Approach |  | Capitalization Rate |  |  | 10.00% |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
|  | Available for Sale Securities |
|  | March 31, 2019 |  |  | December 31, 2018 |
Balance, Beginning |  | $ | 4,277 |  |  | $ | 7,298 |
Transfers out of Level 3 |  |  | - |  |  |  | (2,009 | )
Maturities |  |  | - |  |  |  | - |
Purchases |  |  | - |  |  |  | - |
Paydowns |  |  | (390 | ) |  |  | (886 | )
Unrealized Gains included in Other |  |  |  |  |  |  |  |
Comprehensive Income (Loss) |  |  | 10 |  |  |  | (126 | )
Balance, Ending |  | $ | 3,897 |  |  | $ | 4,277 |
Fair Value, Inputs, Level 3 [Member] |
Notes Tables |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
|  |  |  |  |  |  | Unobservable |  | Range |
March 31, 2019 |  | Fair Value |  | Valuation Techniques |  | Inputs |  | (Weighted Avg) |
State, County and Municipal |  | $ | 215 |  | Discounted Cash Flow |  | Discount Rate or Yield |  |  | N/A* |
U. S. Government Agencies Mortgage -Backed |  |  | 3,682 |  | Fundamental Analysis |  | Discount Rate or Yield |  |  | N/A* |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |