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Note 9 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Notes Tables

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

Financial Assets		At June 30, 2025
Securities available-for-sale:		Level 1				Level 2				Level 3				Total
U.S. agency securities		$	—			$	17,695			$	—			$	17,695
Corporate securities			—				15,359				—				15,359
Municipal bonds			—				68,522				—				68,522
Mortgage-backed securities			—				190,516				—				190,516
Asset-backed securities			—				10,600				—				10,600
Mortgage loans held for sale, at fair value			—				53,630				—				53,630
Loans receivable, at fair value			—				13,240				—				13,240
Derivatives:
Interest rate lock commitments with customers			—				—				409				409
Interest rate swaps - cash flow and fair value hedges			—				2,614				—				2,614
Interest rate swaps - dealer offsets to customer swap positions			—				42				—				42
Total assets measured at fair value		$	—			$	372,218			$	409			$	372,627
Financial Liabilities
Derivatives:
Interest rate swaps - customer swap positions		$	—			$	(41	)		$	—			$	(41	)
Interest rate swaps - cash flow and fair value hedges			—				(633	)			—				(633	)
Mandatory and best effort forward commitments with investors			—				—				(162	)			(162	)
Forward TBA mortgage-backed securities			—				(394	)			—				(394	)
Total liabilities measured at fair value		$	—			$	(1,068	)		$	(162	)		$	(1,230	)

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	)

Fair Value Measurements, Nonrecurring [Table Text Block]

		June 30, 2025
		Level 1				Level 2				Level 3				Total
Collateral dependent loans		$	—			$	—			$	1,388			$	1,388
MSRs			—				—				20,464				20,464

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

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

Level 3				Significant						Weighted Average Rate
Fair Value		Valuation		Unobservable						June 30,				December 31,
Instruments		Techniques		Inputs		Range				2025				2024
RECURRING
Interest rate lock commitments with customers		Quoted market prices		Pull-through expectations			80% - 99%				89.7	%			94.0	%
Individual forward sale commitments with investors		Quoted market prices		Pull-through expectations			80% - 99%				89.7	%			94.0	%
NONRECURRING
Collateral dependent loans		Fair value of underlying collateral		Discount applied to the obtained appraisal			0% - 25%				—	%			—	%
MSRs		Industry sources		Pre-payment speeds			0% - 50%				9.2	%			8.3	%

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

						Purchases												Net change in				Net change in
Three Months Ended		Beginning				and				Sales and				Ending				fair value for				fair value for
June 30, 2025		Balance				Issuances				Settlements				Balance				gains/(losses) (1)				gains/(losses) (2)
Interest rate lock commitments with customers		$	439			$	1,099			$	(1,129	)		$	409			$	(30	)		$	—
Individual forward sale commitments with investors			(60	)			(169	)			67				(162	)			(102	)			—
June 30, 2024
Interest rate lock commitments with customers		$	251			$	693			$	(566	)		$	378			$	127			$	—
Individual forward sale commitments with investors			(73	)			36				(279	)			(316	)			(243	)			—

						Purchases												Net change in				Net change in
Six Months Ended		Beginning				and				Sales and				Ending				fair value for				fair value for
June 30, 2025		Balance				Issuances				Settlements				Balance				gains/(losses) (1)				gains/(losses) (2)
Interest rate lock commitments with customers		$	103			$	2,240			$	(1,934	)		$	409			$	306			$	—
Individual forward sale commitments with investors			31				(253	)			60				(162	)			(193	)			—
June 30, 2024
Interest rate lock commitments with customers		$	329			$	1,658			$	(1,609	)		$	378			$	49			$	—
Individual forward sale commitments with investors			(188	)			21				(149	)			(316	)			128				—

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

		June 30, 2025								December 31, 2024
Financial Assets		Carrying				Fair				Carrying				Fair
Level 1 inputs:		Amount				Value				Amount				Value
Cash and cash equivalents		$	33,195			$	33,195			$	31,635			$	31,635
Certificates of deposit at other financial institutions			248				248				1,727				1,727
Level 2 inputs:
Securities available-for-sale, at fair value			302,692				302,692				281,175				281,175
Securities held-to-maturity, gross			31,782				31,776				8,500				8,144
Loans held for sale, at fair value			53,630				53,630				27,835				27,835
Forward TBA mortgage-backed securities			—				—				180				180
Loans receivable, at fair value			13,240				13,240				12,728				12,728
Interest rate swaps - cash flow and fair value hedges			2,614				2,614				7,244				7,244
Interest rate swaps - dealer offsets to customer swap positions			42				42				62				62
Level 3 inputs:
Loans receivable, gross			2,601,221				2,480,330				2,521,093				2,385,213
MSRs, held at lower of cost or fair value			8,652				20,464				9,204				21,043
Mandatory and best effort forward commitments with investors			—				—				31				31
Fair value interest rate locks with customers			409				409				103				103
Financial Liabilities
Level 2 inputs:
Time deposits			1,177,646				1,175,427				1,028,896				1,024,663
Borrowings			234,305				232,645				307,806				307,408
Subordinated notes, excluding unamortized debt issuance costs			50,000				48,745				50,000				45,504
Interest rate swaps - cash flow and fair value hedges			633				633				—				—
Forward TBA mortgage-backed securities			162				162				—				—
Interest rate swaps - customer swap positions			41				41				61				61
Level 3 inputs:
Mandatory and best effort forward commitments with investors			394				394				—				—

X

- Definition

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