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Note 5 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

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

						September 30, 2024
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
Subordinated debt		$	-			$	25,883			$	6,650			$	32,533
Obligations of states and political subdivisions			-				129,467				-				129,467
Mortgage-backed securities in government-sponsored entities			-				7,895				-				7,895
Total investment securities available for sale			-				163,245				6,650				169,895
Equity securities			785				-				-				785
Total		$	785			$	163,245			$	6,650			$	170,680

						December 31, 2023
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a recurring basis:
Subordinated debt		$	-			$	23,118			$	8,801			$	31,919
Obligations of states and political subdivisions			-				132,542				-				132,542
Mortgage-backed securities in government-sponsored entities			-				6,318				-				6,318
Total investment securities available for sale			-				161,978				8,801				170,779
Equity securities			814				-				-				814
Total		$	814			$	161,978			$	8,801			$	171,593

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Subordinated debt
(Dollar amounts in thousands)		September 30, 2024				December 31, 2023
Beginning of year		$	8,801			$	8,737
Purchases, sales, settlements:
Purchases			-				1,000
Transfers out of Level III (1)			(2,250	)			(1,000	)
Net change in unrealized loss on investment securities available-for-sale			99				64
Balance at end of period		$	6,650			$	8,801

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

						September 30, 2024
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a non-recurring basis:
Collateral-dependent loans		$	-			$	-			$	4,155			$	4,155

						December 31, 2023
(Dollar amounts in thousands)		Level I				Level II				Level III				Total
Assets measured on a non-recurring basis:
Collateral-dependent loans		$	-			$	-			$	3,361			$	3,361

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, 2024
Collateral-dependent loans		$	4,155		Appraisal of collateral (1)	Appraisal adjustments (2)			10.4% - 23.9%

		Quantitative Information about Level III Fair Value Measurements
(Dollar amounts in thousands)
		Fair Value Estimate			Valuation Techniques	Unobservable Input		Range (Weighted Average)
December 31, 2023
Collateral-dependent loans		$	3,361		Appraisal of collateral (1)	Appraisal adjustments (2)			20.1	%

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

		September 30, 2024
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Net loans		$	1,482,005			$	-			$	-			$	1,436,941			$	1,436,941
Mortgage servicing rights			1,528												2,598				2,598
Financial liabilities:
Non-maturing deposits		$	1,185,538			$	1,185,538			$	-			$	-			$	1,185,538
Time deposits			327,231				-				-				326,913				326,913
Other borrowings			11,711				-				-				11,711				11,711

		December 31, 2023
		Carrying																Total
		Value				Level I				Level II				Level III				Fair Value
		(Dollar amounts in thousands)
Financial assets:
Net loans		$	1,456,437			$	-			$	-			$	1,370,657			$	1,370,657
Mortgage servicing rights			1,636												2,781				2,781
Financial liabilities:
Non-maturing deposits		$	1,092,287			$	1,092,287			$	-			$	-			$	1,092,287
Time deposits			334,315				-				-				331,638				331,638
Other borrowings			11,862				-				-				11,862				11,862

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