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Note 16 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

Financial Assets		At December 31, 2024
Securities available-for-sale:		Level 1				Level 2				Level 3				Total
U.S. agency securities		$	—			$	17,138			$	—			$	17,138
Corporate securities			—				15,126				—				15,126
Municipal bonds			—				70,344				—				70,344
Mortgage-backed securities			—				167,186				—				167,186
Asset-backed securities			—				11,381				—				11,381
Mortgage loans held for sale, at fair value			—				27,835				—				27,835
Loans receivable, at fair value			—				12,728				—				12,728
Derivatives:
Mandatory and best effort forward commitments with investors			—				—				31				31
Interest rate lock commitments with customers			—				—				103				103
Forward TBA mortgage-backed securities			—				180				—				180
Interest rate swaps - cash flow and fair value hedges			—				7,244				—				7,244
Interest rate swaps - dealer offsets to customer swap positions			—				62				—				62
Total assets measured at fair value		$	—			$	329,224			$	134			$	329,358
Financial Liabilities
Derivatives:
Interest rate swaps - customer swap positions		$	—			$	(61	)		$	—			$	(61	)
Total liabilities measured at fair value		$	—			$	(61	)		$	—			$	(61	)

Financial Assets		At December 31, 2023
Securities available-for-sale:		Level 1				Level 2				Level 3				Total
U.S. agency securities		$	—			$	18,018			$	—			$	18,018
Corporate securities			—				12,872				—				12,872
Municipal bonds			—				119,447				—				119,447
Mortgage-backed securities			—				101,248				—				101,248
Asset-backed securities			—				41,348				—				41,348
Mortgage loans held for sale, at fair value			—				25,668				—				25,668
Loans receivable, at fair value			—				15,088				—				15,088
Derivatives:
Interest rate lock commitments with customers			—				—				329				329
Interest rate swaps- cash flow and fair value hedges			—				6,431				—				6,431
Interest rate swaps - dealer offsets to customer swap positions			—				64				—				64
Total assets measured at fair value		$	—			$	340,184			$	329			$	340,513
Financial Liabilities
Derivatives:
Mandatory and best effort forward commitments with investors		$	—			$	—			$	(188	)		$	(188	)
Forward TBA mortgage-backed securities			—				(284	)			—				(284	)
Interest rate swaps - cash flow and fair value hedges			—				(375	)			—				(375	)
Interest rate swaps - customer swap positions			—				(63	)			—				(63	)
Total liabilities measured at fair value		$	—			$	(722	)		$	(188	)		$	(910	)

Fair Value Measurements, Nonrecurring [Table Text Block]

		December 31, 2024
		Level 1				Level 2				Level 3				Total
Collateral dependent loans		$	—			$	—			$	1,130			$	1,130
MSRs			—				—				21,043				21,043

		December 31, 2023
		Level 1			Level 2			Level 3			Total
MSRs		$	—		$	—		$	38,163		$	38,163

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

Level 3		Significant						Weighted Average Rate
Fair Value	Valuation	Unobservable						December 31,				December 31,
Instruments	Techniques	Inputs		Range				2024				2023
RECURRING
Interest rate lock commitments with customers	Quoted market prices	Pull-through expectations			80% - 99%				94.0	%			90.5	%
Individual forward sale commitments with investors	Quoted market prices	Pull-through expectations			80% - 99%				94.0	%			90.5	%
NONRECURRING
MSRs	Industry sources	Pre-payment speeds			0% - 50%				8.3	%			7.2	%

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

						Purchases												Net change in				Net change in
		Beginning				and				Sales and				Ending				fair value for				fair value for
2024		Balance				Issuances				Settlements				Balance				gains/(losses) (1)				gains/(losses) (2)
Interest rate lock commitments with customers		$	329			$	4,279			$	(4,505	)		$	103			$	(226	)		$	—
Individual forward sale commitments with investors			(188	)			(1,626	)			1,845				31				219				—
2023
Interest rate lock commitments with customers		$	107			$	4,291			$	(4,069	)		$	329			$	222			$	—
Individual forward sale commitments with investors			(38	)			66				(216	)			(188	)			(150	)			—
2022
Interest rate lock commitments with customers		$	757			$	3,215			$	(3,865	)		$	107			$	(650	)		$	—
Individual forward sale commitments with investors			808				6,383				(7,229	)			(38	)			(846	)			—

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

		December 31,
		2024								2023
Financial Assets		Carrying				Fair				Carrying				Fair
Level 1 inputs:		Amount				Value				Amount				Value
Cash and cash equivalents		$	31,635			$	31,635			$	65,691			$	65,691
Certificates of deposit at other financial institutions			1,727				1,727				24,167				24,167
Level 2 inputs:
Securities available-for-sale, at fair value			281,175				281,175				292,933				292,933
Securities held-to-maturity, gross			8,500				8,144				8,500				7,666
Loans held for sale, at fair value			27,835				27,835				25,668				25,668
FHLB stock, at cost			15,621				15,621				2,114				2,114
Forward TBA mortgage-backed securities			180				180				—				—
Loans receivable, at fair value			12,728				12,728				15,088				15,088
Interest rate swaps - cash flow and fair value hedges			7,244				7,244				6,431				6,431
Interest rate swaps - dealer offsets to customer swap positions			62				62				64				64
Level 3 inputs:
Loans receivable, gross			2,521,093				2,385,213				2,417,927				2,276,397
MSRs, held at lower of cost or fair value			9,204				21,043				9,090				20,552
MSRs held for sale, held at lower of cost or fair value			—				—				8,086				17,611
Mandatory and best effort forward commitments with investors			31				31
Fair value interest rate locks with customers			103				103				—				—
Financial Liabilities
Level 2 inputs:
Time deposits			1,028,896				1,024,663				1,096,771				1,089,474
Borrowings			307,806				307,408				93,746				93,416
Subordinated notes, excluding unamortized debt issuance costs			50,000				45,504				50,000				43,480
Interest rate swaps - cash flow and fair value hedges			—				—				375				375
Forward TBA mortgage-backed securities			—				—				284				284
Interest rate swaps - customer swap positions			61				61				63				63
Level 3 inputs:
Mandatory and best effort forward commitments with investors			—				—				188				188

X

- Definition

Tabular disclosure of the fair value measurement of assets (liabilities) 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 (liabilities)) 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 (liabilities)) 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 (liability).

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