XML 54 R44.htm IDEA: XBRL DOCUMENT
v3.24.3

Note 16 - Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Notes Tables |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at the End of |
|  |  |  |  |  | the Reporting Period Using |
|  |  |  |  |  | Quoted Prices |  |  | Significant |  |  |  |  |
|  |  |  |  |  | in Active |  |  | Other |  |  | Significant |
|  |  |  |  |  | Markets for |  |  | Observable |  |  | Unobservable |
|  | Fair Value |  |  | Identical Assets |  |  | Inputs |  |  | Inputs |
|  | Measurements |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities with a readily determinable fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 94 |  |  |  | 94 |  |  |  | — |  |  |  | — |
Mutual funds measured at net asset value |  |  | 1,294 |  |  |  | 1,294 |  |  |  | — |  |  |  | — |
Debt securities, available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury notes |  |  | 65,572 |  |  |  | 65,572 |  |  |  | — |  |  |  | — |
U.S. Agency notes |  |  | 83,308 |  |  |  | — |  |  |  | 83,308 |  |  |  | — |
Corporate bonds |  |  | 6,862 |  |  |  | — |  |  |  | 6,862 |  |  |  | — |
U.S. Agency mortgage-backed securities |  |  | 68,339 |  |  |  | — |  |  |  | 68,339 |  |  |  | — |
Municipal securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-taxable |  |  | 4,374 |  |  |  | — |  |  |  | 4,374 |  |  |  | — |
Taxable |  |  | 34,167 |  |  |  | — |  |  |  | 34,167 |  |  |  | — |
Total recurring fair value measurements |  | $ | 264,010 |  |  |  | 66,960 |  |  |  | 197,050 |  |  |  | — |
Nonrecurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  | $ | 1,678 |  |  |  | — |  |  |  | — |  |  |  | 1,678 |
Total nonrecurring fair value measurements |  | $ | 1,678 |  |  |  | — |  |  |  | — |  |  |  | 1,678 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities with a readily determinable fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 96 |  |  |  | 96 |  |  |  | — |  |  |  | — |
Mutual funds measured at net asset value |  |  | 1,240 |  |  |  | 1,240 |  |  |  | — |  |  |  | — |
Debt securities, available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury notes |  |  | 68,202 |  |  |  | 68,202 |  |  |  | — |  |  |  | — |
U.S. Agency notes |  |  | 80,901 |  |  |  | — |  |  |  | 80,901 |  |  |  | — |
Corporate bonds |  |  | 6,534 |  |  |  | — |  |  |  | 6,534 |  |  |  | — |
U.S. Agency mortgage-backed securities |  |  | 72,790 |  |  |  | — |  |  |  | 72,790 |  |  |  | — |
Municipal securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-taxable |  |  | 7,171 |  |  |  | — |  |  |  | 7,171 |  |  |  | — |
Taxable |  |  | 41,003 |  |  |  | — |  |  |  | 41,003 |  |  |  | — |
Total recurring fair value measurements |  | $ | 277,937 |  |  |  | 69,538 |  |  |  | 208,399 |  |  |  | — |
Nonrecurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  | $ | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total nonrecurring fair value measurements |  | $ | — |  |  |  | — |  |  |  | — |  |  |  | — |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] |
|  |  |  |  |  |  |  |  | Range
|  |  |  |  | Valuation |  | Unobservable |  |  |  |  |  | Weighted
|  | Fair Value |  | Technique |  | Inputs |  | High |  | Low |  | Average
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  | $ | 1,678 |  | Estimated sales price |  | Adjustments for comparable properties, discounts to reflect current market conditions |  | Not applicable |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  | $ | — |  | Estimated sales price |  | Adjustments for comparable properties, discounts to reflect current market conditions |  | Not applicable |  |  |  |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  |  |  |  |  |  |  |  |  | Fair Value Measurements at the End of |
|  |  |  |  |  |  |  |  |  | the Reporting Period Using |
|  |  |  |  |  |  |  |  |  | Quoted |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Prices |  |  | Significant |  |  |  |  |
|  |  |  |  |  |  |  |  |  | in Active |  |  | Other |  |  | Significant |
|  |  |  |  |  |  |  |  |  | Markets for |  |  | Observable |  |  | Unobservable |
|  | Carrying |  |  | Fair |  |  | Identical Assets |  |  | Inputs |  |  | Inputs |
|  | Amount |  |  | Value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FINANCIAL ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 39,374 |  |  |  | 39,374 |  |  |  | 39,374 |  |  |  | — |  |  |  | — |
Debt securities, held-to-maturity, net |  |  | 18,730 |  |  |  | 17,675 |  |  |  | — |  |  |  | 17,675 |  |  |  | — |
Loans, net |  |  | 1,707,193 |  |  |  | 1,700,822 |  |  |  | — |  |  |  | — |  |  |  | 1,700,822 |
Loans held-for-sale |  |  | 35,687 |  |  |  | 35,687 |  |  |  | — |  |  |  | 35,687 |  |  |  | — |
Accrued interest receivable |  |  | 9,450 |  |  |  | 9,450 |  |  |  | — |  |  |  | 9,450 |  |  |  | — |
FINANCIAL LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 1,917,005 |  |  |  | 1,930,109 |  |  |  | 1,383,859 |  |  |  | 546,250 |  |  |  | — |
Short-term borrowings |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Long-term debt |  |  | 155,662 |  |  |  | 155,964 |  |  |  | — |  |  |  | 155,964 |  |  |  | — |
Accrued interest payable |  |  | 2,127 |  |  |  | 2,127 |  |  |  | — |  |  |  | 2,127 |  |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FINANCIAL ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 39,723 |  |  |  | 39,723 |  |  |  | 39,723 |  |  |  | — |  |  |  | — |
Debt securities, held-to-maturity, net |  |  | 16,858 |  |  |  | 15,679 |  |  |  | — |  |  |  | — |  |  |  | 15,679 |
Loans, net |  |  | 1,712,946 |  |  |  | 1,534,406 |  |  |  | — |  |  |  | — |  |  |  | 1,534,406 |
Accrued interest receivable |  |  | 8,405 |  |  |  | 8,405 |  |  |  | — |  |  |  | 8,405 |  |  |  | — |
FINANCIAL LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 1,824,389 |  |  |  | 1,824,105 |  |  |  | 1,485,418 |  |  |  | 338,687 |  |  |  | — |
Short-term borrowings |  |  | 97,395 |  |  |  | 97,395 |  |  |  | — |  |  |  | 97,395 |  |  |  | — |
Long-term debt |  |  | 113,123 |  |  |  | 112,986 |  |  |  | — |  |  |  | 112,986 |  |  |  | — |
Accrued interest payable |  |  | 1,697 |  |  |  | 1,697 |  |  |  | — |  |  |  | 1,697 |  |  |  | — |
The methodology to derive the fair value of loans at September 30, 2024 is consistent with the methodology utilized to determine the fair value of loans acquired in the Company’s recent acquisitions of CNNB and EFBI The fair values of off-balance-sheet financial instruments such as loan commitments and letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements. The fair values of such instruments were not material at September 30, 2024 and December 31, 2023.

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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/2003/role/disclosureRef -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
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration