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Note 8 - Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2023
Notes Tables |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
June 30, 2023 |
|  |  |  |  |  |  |  |  |  | Quoted prices |  |  | Significant |  |  | Significant |
|  |  |  |  |  |  |  |  |  | in active |  |  | other |  |  | other |
|  | Carrying |  |  | Estimated |  |  | markets |  |  | observable inputs |  |  | unobservable inputs |
(dollars in thousands) |  | amount |  |  | fair value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 69,632 |  |  | $ | 69,632 |  |  | $ | 69,632 |  |  | $ | - |  |  | $ | - |
Held-to-maturity securities |  |  | 223,479 |  |  |  | 192,084 |  |  |  | - |  |  |  | 192,084 |  |  |  | - |
Available-for-sale debt securities |  |  | 380,785 |  |  |  | 380,785 |  |  |  | - |  |  |  | 380,785 |  |  |  | - |
Restricted investments in bank stock |  |  | 3,728 |  |  |  | 3,728 |  |  |  | - |  |  |  | 3,728 |  |  |  | - |
Loans and leases, net |  |  | 1,611,314 |  |  |  | 1,476,610 |  |  |  | - |  |  |  | - |  |  |  | 1,476,610 |
Loans held-for-sale |  |  | 1,808 |  |  |  | 1,851 |  |  |  | - |  |  |  | 1,851 |  |  |  | - |
Accrued interest receivable |  |  | 8,343 |  |  |  | 8,343 |  |  |  | - |  |  |  | 8,343 |  |  |  | - |
Interest rate swaps |  |  | 203 |  |  |  | 203 |  |  |  | - |  |  |  | 203 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits with no stated maturities |  |  | 1,971,520 |  |  |  | 1,971,520 |  |  |  | - |  |  |  | 1,971,520 |  |  |  | - |
Time deposits |  |  | 180,472 |  |  |  | 176,501 |  |  |  | - |  |  |  | 176,501 |  |  |  | - |
Short-term borrowings |  |  | 76,111 |  |  |  | 76,114 |  |  |  | - |  |  |  | 76,114 |  |  |  | - |
Secured borrowings |  |  | 7,498 |  |  |  | 7,632 |  |  |  | - |  |  |  | - |  |  |  | 7,632 |
Accrued interest payable |  |  | 1,378 |  |  |  | 1,378 |  |  |  | - |  |  |  | 1,378 |  |  |  | - |
Interest rate swaps |  |  | 203 |  |  |  | 203 |  |  |  | - |  |  |  | 203 |  |  |  | - |
December 31, 2022 |
|  |  |  |  |  |  |  |  |  | Quoted prices |  |  | Significant |  |  | Significant |
|  |  |  |  |  |  |  |  |  | in active |  |  | other |  |  | other |
|  | Carrying |  |  | Estimated |  |  | markets |  |  | observable inputs |  |  | unobservable inputs |
(dollars in thousands) |  | amount |  |  | fair value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 29,091 |  |  | $ | 29,091 |  |  | $ | 29,091 |  |  | $ | - |  |  | $ | - |
Held-to-maturity securities |  |  | 222,744 |  |  |  | 187,280 |  |  |  | - |  |  |  | 187,280 |  |  |  | - |
Available-for-sale debt securities |  |  | 420,862 |  |  |  | 420,862 |  |  |  | - |  |  |  | 420,862 |  |  |  | - |
Restricted investments in bank stock |  |  | 5,268 |  |  |  | 5,268 |  |  |  | - |  |  |  | 5,268 |  |  |  | - |
Loans and leases, net |  |  | 1,547,025 |  |  |  | 1,440,151 |  |  |  | - |  |  |  | - |  |  |  | 1,440,151 |
Loans held-for-sale |  |  | 1,637 |  |  |  | 1,660 |  |  |  | - |  |  |  | 1,660 |  |  |  | - |
Accrued interest receivable |  |  | 8,487 |  |  |  | 8,487 |  |  |  | - |  |  |  | 8,487 |  |  |  | - |
Interest rate swaps |  |  | 213 |  |  |  | 213 |  |  |  | - |  |  |  | 213 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits with no stated maturities |  |  | 2,049,689 |  |  |  | 2,049,689 |  |  |  | - |  |  |  | 2,049,689 |  |  |  | - |
Time deposits |  |  | 117,224 |  |  |  | 113,252 |  |  |  | - |  |  |  | 113,252 |  |  |  | - |
Short-term borrowings |  |  | 12,940 |  |  |  | 12,940 |  |  |  | - |  |  |  | 12,940 |  |  |  | - |
Secured borrowings |  |  | 7,619 |  |  |  | 7,275 |  |  |  | - |  |  |  | - |  |  |  | 7,275 |
Accrued interest payable |  |  | 448 |  |  |  | 448 |  |  |  | - |  |  |  | 448 |  |  |  | - |
Interest rate swaps |  |  | 213 |  |  |  | 213 |  |  |  | - |  |  |  | 213 |  |  |  | - |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  | Total carrying value |  |  | Quoted prices in active markets |  |  | Significant other observable inputs |  |  | Significant other unobservable inputs |
(dollars in thousands) |  | June 30, 2023 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency - GSE |  | $ | 26,946 |  |  | $ | - |  |  | $ | 26,946 |  |  | $ | - |
Obligations of states and political subdivisions |  |  | 151,987 |  |  |  | - |  |  |  | 151,987 |  |  |  | - |
MBS - GSE residential |  |  | 201,852 |  |  |  | - |  |  |  | 201,852 |  |  |  | - |
Total available-for-sale debt securities |  | $ | 380,785 |  |  | $ | - |  |  | $ | 380,785 |  |  | $ | - |
|  | Total carrying value |  |  | Quoted prices in active markets |  |  | Significant other observable inputs |  |  | Significant other unobservable inputs |
(dollars in thousands) |  | December 31, 2022 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency - GSE |  | $ | 31,533 |  |  | $ | - |  |  | $ | 31,533 |  |  | $ | - |
Obligations of states and political subdivisions |  |  | 171,894 |  |  |  | - |  |  |  | 171,894 |  |  |  | - |
MBS - GSE residential |  |  | 217,435 |  |  |  | - |  |  |  | 217,435 |  |  |  | - |
Total available-for-sale debt securities |  | $ | 420,862 |  |  | $ | - |  |  | $ | 420,862 |  |  | $ | - |
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  |  |  |  |  |  | Quoted prices in |  |  | Significant other |  |  | Significant other |
|  |  | Total carrying value |  |  | active markets |  |  | observable inputs |  |  | unobservable inputs |
(dollars in thousands) | Valuation techniques |  | at June 30, 2023 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Individually evaluated loans | Fair value of collateral appraised value |  | $ | 311 |  |  | $ | - |  |  | $ | - |  |  | $ | 311 |
Individually evaluated loans | Discount cash flow |  |  | 405 |  |  |  |  |  |  |  |  |  |  |  | 405 |
Other real estate owned | Fair value of asset less selling costs |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Total |  | $ | 717 |  |  | $ | - |  |  | $ | - |  |  | $ | 717 |
|  |  |  |  |  | Quoted prices in |  |  | Significant other |  |  | Significant other |
|  | Total carrying value |  |  | active markets |  |  | observable inputs |  |  | unobservable inputs |
(dollars in thousands) |  | at December 31, 2022 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Impaired loans |  | $ | 1,515 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,515 |
Other real estate owned |  |  | 168 |  |  |  | - |  |  |  | - |  |  |  | 168 |
Total |  | $ | 1,683 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,683 |

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