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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
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-Publisher FASB
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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

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+ References

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 11
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