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Note 8 - Fair Value Measurements (Tables)

3 Months Ended

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

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 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

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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
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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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

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