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Note 5 - Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2020
Notes Tables |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] |
|  |  |  |  |  | September 30, 2020 |  |  |  |  |
(Dollar amounts in thousands) |  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
Assets measured on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subordinated debt |  | $ | - |  |  | $ | 16,598 |  |  | $ | - |  |  | $ | 16,598 |
Obligations of states and political subdivisions |  |  | - |  |  |  | 81,303 |  |  |  | - |  |  |  | 81,303 |
Mortgage-backed securities in government-sponsored entities |  |  | - |  |  |  | 15,067 |  |  |  | - |  |  |  | 15,067 |
Total debt securities |  |  | - |  |  |  | 112,968 |  |  |  | - |  |  |  | 112,968 |
Equity securities in financial institutions |  |  | 553 |  |  |  | - |  |  |  | - |  |  |  | 553 |
Total |  | $ | 553 |  |  | $ | 112,968 |  |  | $ | - |  |  | $ | 113,521 |
|  |  |  |  |  | December 31, 2019 |  |  |  |  |
(Dollar amounts in thousands) |  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
Assets measured on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subordinated debt |  | $ | - |  |  | $ | 4,126 |  |  | $ | - |  |  | $ | 4,126 |
Obligations of states and political subdivisions |  |  | - |  |  |  | 82,977 |  |  |  | - |  |  |  | 82,977 |
Mortgage-backed securities in government-sponsored entities |  |  | - |  |  |  | 18,630 |  |  |  | - |  |  |  | 18,630 |
Total debt securities |  |  | - |  |  |  | 105,733 |  |  |  | - |  |  |  | 105,733 |
Equity securities in financial institutions |  |  | 710 |  |  |  | - |  |  |  | - |  |  |  | 710 |
Total |  | $ | 710 |  |  | $ | 105,733 |  |  | $ | - |  |  | $ | 106,443 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] |
|  |  |  |  |  | September 30, 2020 |  |  |  |  |
(Dollar amounts in thousands) |  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
Assets measured on a non-recurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | - |  |  | $ | - |  |  | $ | 4,126 |  |  | $ | 4,126 |
Other real estate owned |  |  | - |  |  |  | - |  |  |  | 6,992 |  |  |  | 6,992 |
|  |  |  |  |  | December 31, 2019 |  |  |  |  |
(Dollar amounts in thousands) |  | Level I |  |  | Level II |  |  | Level III |  |  | Total |
Assets measured on a non-recurring basis: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | - |  |  | $ | - |  |  | $ | 5,166 |  |  | $ | 5,166 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
|  | Quantitative Information about Level III Fair Value Measurements |
(Dollar amounts in thousands) |  |  |  |  |  |
|  | Fair Value Estimate |  | Valuation Techniques | Unobservable Input |  | Range (Weighted Average) |
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 4,126 |  | Appraisal of collateral (1) | Appraisal adjustments (2) |  |  | 18.6% | to | 46.2% | (23.1%) |
Other real estate owned |  | $ | 6,992 |  | Appraisal of collateral (1) | Appraisal adjustments (2) |  |  |  | 19.9% |  |  |
|  | Quantitative Information about Level III Fair Value Measurements |
(Dollar amounts in thousands) |  |  |  |  |  |  |  |  |  |
|  | Fair Value Estimate |  | Valuation Techniques | Unobservable Input |  | Range (Weighted Average) |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 5,166 |  | Appraisal of collateral (1) | Appraisal adjustments (2) |  |  | 40.3% | to | 47.4% | (41.8%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  | September 30, 2020 |
|  | Carrying |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
|  | Value |  |  | Level I |  |  | Level II |  |  | Level III |  |  | Fair Value |
|  | (Dollar amounts in thousands) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 52,981 |  |  | $ | 52,981 |  |  | $ | - |  |  | $ | - |  |  | $ | 52,981 |
Loans held for sale |  |  | 10,457 |  |  |  | - |  |  |  | 10,457 |  |  |  | - |  |  |  | 10,457 |
Net loans |  |  | 1,113,037 |  |  |  | - |  |  |  | - |  |  |  | 1,113,962 |  |  |  | 1,113,962 |
Bank-owned life insurance |  |  | 16,832 |  |  |  | 16,832 |  |  |  | - |  |  |  | - |  |  |  | 16,832 |
Federal Home Loan Bank stock |  |  | 5,207 |  |  |  | 5,207 |  |  |  | - |  |  |  | - |  |  |  | 5,207 |
Accrued interest receivable |  |  | 5,998 |  |  |  | 5,998 |  |  |  | - |  |  |  | - |  |  |  | 5,998 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,193,963 |  |  | $ | 864,550 |  |  | $ | - |  |  | $ | 334,172 |  |  | $ | 1,198,722 |
Short-term borrowings |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other borrowings |  |  | 17,100 |  |  |  | - |  |  |  | - |  |  |  | 13,149 |  |  |  | 13,149 |
Accrued interest payable |  |  | 788 |  |  |  | 788 |  |  |  | - |  |  |  | - |  |  |  | 788 |
|  | December 31, 2019 |
|  | Carrying |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
|  | Value |  |  | Level I |  |  | Level II |  |  | Level III |  |  | Fair Value |
|  | (Dollar amounts in thousands) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 35,113 |  |  | $ | 35,113 |  |  | $ | - |  |  | $ | - |  |  | $ | 35,113 |
Loans held for sale |  |  | 1,220 |  |  |  | - |  |  |  | 1,220 |  |  |  | - |  |  |  | 1,220 |
Net loans |  |  | 977,490 |  |  |  | - |  |  |  | - |  |  |  | 974,213 |  |  |  | 974,213 |
Bank-owned life insurance |  |  | 16,511 |  |  |  | 16,511 |  |  |  | - |  |  |  | - |  |  |  | 16,511 |
Federal Home Loan Bank stock |  |  | 3,848 |  |  |  | 3,848 |  |  |  | - |  |  |  | - |  |  |  | 3,848 |
Accrued interest receivable |  |  | 3,471 |  |  |  | 3,471 |  |  |  | - |  |  |  | - |  |  |  | 3,471 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,020,843 |  |  | $ | 652,043 |  |  | $ | - |  |  | $ | 371,193 |  |  | $ | 1,023,236 |
Short-term borrowings |  |  | 5,075 |  |  |  | 5,075 |  |  |  | - |  |  |  | - |  |  |  | 5,075 |
Other borrowings |  |  | 12,750 |  |  |  | - |  |  |  | - |  |  |  | 12,783 |  |  |  | 12,783 |
Accrued interest payable |  |  | 917 |  |  |  | 917 |  |  |  | - |  |  |  | - |  |  |  | 917 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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