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Note 8 - Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Notes Tables |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
March 31, 2024 |
|  |  |  |  |  |  |  |  |  | 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 |  | $ | 72,733 |  |  | $ | 72,733 |  |  | $ | 72,733 |  |  | $ | - |  |  | $ | - |
Held-to-maturity securities |  |  | 224,612 |  |  |  | 193,973 |  |  |  | - |  |  |  | 193,973 |  |  |  | - |
Available-for-sale debt securities |  |  | 334,404 |  |  |  | 334,404 |  |  |  | - |  |  |  | 334,404 |  |  |  | - |
Restricted investments in bank stock |  |  | 3,959 |  |  |  | 3,959 |  |  |  | - |  |  |  | 3,959 |  |  |  | - |
Loans and leases, net |  |  | 1,678,142 |  |  |  | 1,529,828 |  |  |  | - |  |  |  | - |  |  |  | 1,529,828 |
Loans held-for-sale |  |  | 271 |  |  |  | 277 |  |  |  | - |  |  |  | 277 |  |  |  | - |
Accrued interest receivable |  |  | 9,398 |  |  |  | 9,398 |  |  |  | - |  |  |  | 9,398 |  |  |  | - |
Interest rate swaps |  |  | 210 |  |  |  | 210 |  |  |  | - |  |  |  | 210 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits with no stated maturities |  |  | 1,946,488 |  |  |  | 1,946,488 |  |  |  | - |  |  |  | 1,946,488 |  |  |  | - |
Time deposits |  |  | 269,508 |  |  |  | 266,635 |  |  |  | - |  |  |  | 266,635 |  |  |  | - |
Short-term borrowings |  |  | 25,000 |  |  |  | 25,000 |  |  |  | - |  |  |  | 25,000 |  |  |  | - |
Secured borrowings |  |  | 7,299 |  |  |  | 7,802 |  |  |  | - |  |  |  | - |  |  |  | 7,802 |
Accrued interest payable |  |  | 2,369 |  |  |  | 2,369 |  |  |  | - |  |  |  | 2,369 |  |  |  | - |
Interest rate swaps |  |  | 857 |  |  |  | 857 |  |  |  | - |  |  |  | 857 |  |  |  | - |
December 31, 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 |  | $ | 111,949 |  |  | $ | 111,949 |  |  | $ | 111,949 |  |  | $ | - |  |  | $ | - |
Held-to-maturity securities |  |  | 224,233 |  |  |  | 197,176 |  |  |  | - |  |  |  | 197,176 |  |  |  | - |
Available-for-sale debt securities |  |  | 344,040 |  |  |  | 344,040 |  |  |  | - |  |  |  | 344,040 |  |  |  | - |
Restricted investments in bank stock |  |  | 3,905 |  |  |  | 3,905 |  |  |  | - |  |  |  | 3,905 |  |  |  | - |
Loans and leases, net |  |  | 1,666,292 |  |  |  | 1,532,195 |  |  |  | - |  |  |  | - |  |  |  | 1,532,195 |
Loans held-for-sale |  |  | 1,457 |  |  |  | 1,483 |  |  |  | - |  |  |  | 1,483 |  |  |  | - |
Accrued interest receivable |  |  | 9,092 |  |  |  | 9,092 |  |  |  | - |  |  |  | 9,092 |  |  |  | - |
Interest rate swaps |  |  | 171 |  |  |  | 171 |  |  |  | - |  |  |  | 171 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits with no stated maturities |  |  | 1,945,456 |  |  |  | 1,945,456 |  |  |  | - |  |  |  | 1,945,456 |  |  |  | - |
Time deposits |  |  | 212,969 |  |  |  | 210,423 |  |  |  | - |  |  |  | 210,423 |  |  |  | - |
Short-term borrowings |  |  | 117,000 |  |  |  | 117,010 |  |  |  | - |  |  |  | 117,010 |  |  |  | - |
Secured borrowings |  |  | 7,372 |  |  |  | 8,067 |  |  |  | - |  |  |  | - |  |  |  | 8,067 |
Accrued interest payable |  |  | 3,042 |  |  |  | 3,042 |  |  |  | - |  |  |  | 3,042 |  |  |  | - |
Interest rate swaps |  |  | 2,332 |  |  |  | 2,332 |  |  |  | - |  |  |  | 2,332 |  |  |  | - |
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) |  | March 31, 2024 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency - GSE |  | $ | 27,431 |  |  | $ | - |  |  | $ | 27,431 |  |  | $ | - |
Obligations of states and political subdivisions |  |  | 121,072 |  |  |  | - |  |  |  | 121,072 |  |  |  | - |
MBS - GSE residential |  |  | 185,901 |  |  |  | - |  |  |  | 185,901 |  |  |  | - |
Total available-for-sale debt securities |  | $ | 334,404 |  |  | $ | - |  |  | $ | 334,404 |  |  | $ | - |
Interest rate swaps |  |  | 210 |  |  |  | - |  |  |  | 210 |  |  |  | - |
Total assets |  | $ | 334,614 |  |  | $ | - |  |  | $ | 334,614 |  |  | $ | - |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 857 |  |  | $ | - |  |  | $ | 857 |  |  | $ | - |
Total liabilities |  | $ | 857 |  |  | $ | - |  |  | $ | 857 |  |  | $ | - |
|  | Total carrying value |  |  | Quoted prices in active markets |  |  | Significant other observable inputs |  |  | Significant other unobservable inputs |
(dollars in thousands) |  | December 31, 2023 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency - GSE |  | $ | 27,545 |  |  | $ | - |  |  | $ | 27,545 |  |  | $ | - |
Obligations of states and political subdivisions |  |  | 122,797 |  |  |  | - |  |  |  | 122,797 |  |  |  | - |
MBS - GSE residential |  |  | 193,698 |  |  |  | - |  |  |  | 193,698 |  |  |  | - |
Total available-for-sale debt securities |  | $ | 344,040 |  |  | $ | - |  |  | $ | 344,040 |  |  | $ | - |
Interest rate swaps |  |  | 171 |  |  |  | - |  |  |  | 171 |  |  |  | - |
Total assets |  | $ | 344,211 |  |  | $ | - |  |  | $ | 344,211 |  |  | $ | - |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 2,332 |  |  | $ | - |  |  | $ | 2,332 |  |  | $ | - |
Total liabilities |  | $ | 2,332 |  |  | $ | - |  |  | $ | 2,332 |  |  | $ | - |
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 March 31, 2024 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Individually evaluated loans | Fair value of collateral appraised value |  | $ | 392 |  |  | $ | - |  |  | $ | - |  |  | $ | 392 |
Other real estate owned | Fair value of asset less selling costs |  |  | 220 |  |  |  | - |  |  |  | - |  |  |  | 220 |
Total |  | $ | 612 |  |  | $ | - |  |  | $ | - |  |  | $ | 612 |
|  |  |  |  |  |  | Quoted prices in |  |  | Significant other |  |  | Significant other |
|  |  | Total carrying value |  |  | active markets |  |  | observable inputs |  |  | unobservable inputs |
(dollars in thousands) |  |  | at December 31, 2023 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Individually evaluated loans | Fair value of collateral appraised value |  | $ | 120 |  |  | $ | - |  |  | $ | - |  |  | $ | 120 |
Other real estate owned | Fair value of asset less selling costs |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Total |  | $ | 121 |  |  | $ | - |  |  | $ | - |  |  | $ | 121 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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