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Note 12 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

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

						Fair Value Measurements at June 30, 2020
Description		Balance as of June 30, 2020				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Securities available for sale
U.S. agency and mortgage-backed securities		$	94,820			$	—			$	94,820			$	—
Obligations of states and political subdivisions			28,373				—				28,373				—
Total assets		$	123,193			$	—			$	123,193			$	—
Liabilities:
Derivatives - cash flow hedges		$	31			$	—			$	31			$	—
Total liabilities		$	31			$	—			$	31			$	—

						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)
Assets:
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				—
Total assets		$	120,983			$	—			$	120,983			$	—

Fair Value Measurements, Nonrecurring [Table Text Block]

						Fair Value Measurements at June 30, 2020
Description		Balance as of June 30, 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		$	4,502			$	—			$	—			$	4,502

						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 June 30, 2020

Fair Value

Valuation Technique

Unobservable Input

Range (Weighted Average) (1)

Impaired loans, net

$

212

Property appraisals

Selling cost

10.00

%

Impaired loans, net

4,290

Present value of cash flows

Discount rate

5.75

%

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

10.00

%

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

						Fair Value Measurements at June 30, 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		$	108,279			$	108,279			$	—			$	—			$	108,279
Securities available for sale			123,193				—				123,193				—				123,193
Securities held to maturity			16,211				—				15,148				1,589				16,737
Restricted securities			1,848				—				1,848				—				1,848
Loans held for sale			170				—				170				—				170
Loans, net			645,220				—				—				650,607				650,607
Bank owned life insurance			17,661				—				17,661				—				17,661
Accrued interest receivable			3,863				—				3,863				—				3,863
Financial Liabilities
Deposits		$	839,015			$	—			$	724,738			$	115,413			$	840,151
Subordinated debt			9,982				—				—				10,173				10,173
Junior subordinated debt			9,279				—				—				8,988				8,988
Derivatives - cash flow hedges			31				—				31				—				31
Accrued interest payable			154				—				154				—				154

						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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+ References

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