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Note 12 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

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

						Fair Value Measurements at March 31, 2020
Description		Balance as of March 31, 2020				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Securities available for sale
U.S. agency and mortgage-backed securities		$	102,597			$	—			$	102,597			$	—
Obligations of states and political subdivisions			26,063				—				26,063				—
		$	128,660			$	—			$	128,660			$	—

						Fair Value Measurements at December 31, 2019
Description		Balance as of December 31, 2019				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Securities available for sale
U.S. agency and mortgage-backed securities		$	94,905			$	—			$	94,905			$	—
Obligations of states and political subdivisions			26,078				—				26,078				—
		$	120,983			$	—			$	120,983			$	—

Fair Value Measurements, Nonrecurring [Table Text Block]

						Fair Value Measurements at March 31, 2020
Description		Balance as of March 31, 2020				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired loans, net		$	212			$	—			$	—			$	212

						Fair Value Measurements at December 31, 2019
Description		Balance as of December 31, 2019				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired loans, net		$	406			$	—			$	—			$	406

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

Quantitative information about Level 3 Fair Value Measurements for March 31, 2020

Fair Value

Valuation Technique

Unobservable Input

Range (Weighted Average) (1)

Impaired loans, net

$

212

Property appraisals

Selling cost

10

%

Quantitative information about Level 3 Fair Value Measurements for December 31, 2019

Fair Value

Valuation Technique

Unobservable Input

Range (Weighted Average) (1)

Impaired loans, net

$

406

Property appraisals

Selling cost

10

%

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

						Fair Value Measurements at March 31, 2020 Using
		Carrying Amount				Quoted Prices in Active Markets for Identical Assets Level 1				Significant Other Observable Inputs Level 2				Significant Unobservable Inputs Level 3				Fair Value
Financial Assets
Cash and short-term investments		$	48,090			$	48,090			$	—			$	—			$	48,090
Securities available for sale			128,660				—				128,660				—				128,660
Securities held to maturity			17,086				—				15,972				1,654				17,626
Restricted securities			1,848				—				1,848				—				1,848
Loans held for sale			621				—				621				—				621
Loans, net			576,283				—				—				581,013				581,013
Bank owned life insurance			17,562				—				17,562				—				17,562
Accrued interest receivable			2,124				—				2,124				—				2,124
Financial Liabilities
Deposits		$	720,627			$	—			$	605,217			$	116,338			$	721,555
Subordinated debt			4,987				—				—				5,489				5,489
Junior subordinated debt			9,279				—				—				8,510				8,510
Accrued interest payable			169				—				169				—				169

						Fair Value Measurements at December 31, 2019 Using
		Carrying Amount				Quoted Prices in Active Markets for Identical Assets Level 1				Significant Other Observable Inputs Level 2				Significant Unobservable Inputs Level 3				Fair Value
Financial Assets
Cash and short-term investments		$	45,785			$	45,785			$	—			$	—			$	45,785
Securities available for sale			120,983				—				120,983				—				120,983
Securities held to maturity			17,627				—				16,134				1,512				17,646
Restricted securities			1,806				—				1,806				—				1,806
Loans held for sale			167				—				167				—				167
Loans, net			569,412				—				—				572,910				572,910
Bank owned life insurance			17,447				—				17,447				—				17,447
Accrued interest receivable			2,065				—				2,065				—				2,065
Financial Liabilities
Deposits		$	706,442			$	—			$	588,878			$	117,071			$	705,949
Subordinated debt			4,983				—				—				5,023				5,023
Junior subordinated debt			9,279				—				—				9,724				9,724
Accrued interest payable			184				—				184				—				184

X

- 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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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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+ References

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