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Note 5 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

						September 30, 2021
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
Subordinated debt		$	-			$	20,933			$	11,687			$	32,620
Obligations of states and political subdivisions			-				119,048				-				119,048
Mortgage-backed securities in government-sponsored entities			-				11,389				-				11,389
Total debt securities			-				151,370				11,687				163,057
Equity securities in financial institutions			833				-				-				833
Total		$	833			$	151,370			$	11,687			$	163,890

						December 31, 2020
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
Subordinated debt		$	-			$	14,047			$	7,250			$	21,297
Obligations of states and political subdivisions			-				78,302				-				78,302
Mortgage-backed securities in government-sponsored entities			-				14,761				-				14,761
Total debt securities			-				107,110				7,250				114,360
Equity securities in financial institutions			609				-				-				609
Total		$	609			$	107,110			$	7,250			$	114,969

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

						September 30, 2021
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a non-recurring basis:
Impaired loans		$	-			$	-			$	5,390			$	5,390
Other real estate owned			-				-				6,992				6,992

						December 31, 2020
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a non-recurring basis:
Impaired loans		$	-			$	-			$	4,111			$	4,111
Other real estate owned			-				-				6,992				6,992

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, 2021
Impaired loans		$	5,390		Appraisal of collateral (1)	Appraisal adjustments (2)		25.0%	to	72.2%	(38.7%)
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, 2020
Impaired loans		$	4,111		Appraisal of collateral (1)	Appraisal adjustments (2)		17.6%	to	48.5%	(22.7%)
Other real estate owned		$	6,992		Appraisal of collateral (1)	Appraisal adjustments (2)			19.9%

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

		September 30, 2021
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Cash and cash equivalents		$	132,351			$	132,351			$	-			$	-			$	132,351
Loans held for sale			676				-				1,105				-				1,105
Net loans			996,048				-				-				986,527				986,527
Bank-owned life insurance			16,954				16,954				-				-				16,954
Federal Home Loan Bank stock			4,399				4,399				-				-				4,399
Accrued interest receivable			4,392				4,392				-				-				4,392
Financial liabilities:
Deposits		$	1,200,557			$	988,883			$	-			$	213,479			$	1,202,362
Other borrowings			12,966				-				-				12,966				12,966
Accrued interest payable			305				305				-				-				305

		December 31, 2020
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Cash and cash equivalents		$	112,417			$	112,417			$	-			$	-			$	112,417
Loans held for sale			878				-				878				-				878
Net loans			1,090,626				-				-				1,089,573				1,089,573
Bank-owned life insurance			16,938				16,938				-				-				16,938
Federal Home Loan Bank stock			5,057				5,057				-				-				5,057
Accrued interest receivable			5,210				5,210				-				-				5,210
Financial liabilities:
Deposits		$	1,225,200			$	929,450			$	-			$	299,651			$	1,229,101
Other borrowings			17,038				-				-				15,250				15,250
Accrued interest payable			580				580				-				-				580

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

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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

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-Topic 820
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-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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