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Note 12 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

						Fair Value Measurements at September 30, 2021
Description		Balance as of September 30, 2021				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. Treasury securities		$	19,976			$	—			$	19,976			$	—
U.S. agency and mortgage-backed securities			173,261				—				173,261				—
Obligations of states and political subdivisions			71,327				—				71,327				—
Corporate debt securities			2,036				—				2,036				—
Total securities available for sale		$	266,600			$	—			$	266,600			$	—
Derivatives - cash flow hedges			990				—				990				—
Total assets		$	267,590			$	—			$	267,590			$	—

						Fair Value Measurements at December 31, 2020
Description		Balance as of December 31, 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		$	101,598			$	—			$	101,598			$	—
Obligations of states and political subdivisions			38,627				—				38,627				—
Total securities available for sale		$	140,225			$	—			$	140,225			$	—
Derivatives - cash flow hedges			431				—				431				—
Total assets		$	140,656			$	—			$	140,656			$	—

Fair Value Measurements, Nonrecurring [Table Text Block]

						Fair Value Measurements at September 30, 2021
Description		Balance as of September 30, 2021				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired loans, net		$	1,451			$	—			$	—			$	1,451

						Fair Value Measurements at December 31, 2020
Description		Balance as of December 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		$	3,595			$	—			$	—			$	3,595

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

Quantitative information about Level 3 Fair Value Measurements for September 30, 2021

Fair Value

Valuation Technique

Unobservable Input

Range (Weighted Average) (1)

Impaired loans, net

$

1,451

Present value of cash flows

Discount rate

6.50

%

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

Fair Value

Valuation Technique

Unobservable Input

Range (Weighted Average) (1)

Impaired loans, net

$

2,205

Property appraisals

Selling cost

10.00

%

Impaired loans, net

1,390

Present value of cash flows

Discount rate

6.50

%

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

						Fair Value Measurements at September 30, 2021 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		$	195,230			$	195,230			$	—			$	—			$	195,230
Securities available for sale			266,600				—				266,600				—				266,600
Securities held to maturity			10,046				—				10,262				—				10,262
Restricted securities			1,813				—				1,813				—				1,813
Loans, net			816,977				—				—				823,227				823,227
Bank owned life insurance			24,141				—				24,141				—				24,141
Accrued interest receivable			3,823				—				3,823				—				3,823
Derivatives - cash flow hedges			990				—				990				—				990
Financial Liabilities
Deposits		$	1,212,570			$	—			$	1,064,150			$	148,681			$	1,212,831
Subordinated debt			9,993				—				—			$	10,935				10,935
Junior subordinated debt			9,279				—				—			$	10,824				10,824
Accrued interest payable			232				—				232				—				232

						Fair Value Measurements at December 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		$	127,297			$	127,297			$	—			$	—			$	127,297
Securities available for sale			140,225				—				140,225				—				140,225
Securities held to maturity			14,234				—				13,138				1,605				14,743
Restricted securities			1,875				—				1,875				—				1,875
Loans held for sale			245				—				245				—				245
Loans, net			622,429				—				—				633,638				633,638
Bank owned life insurance			17,916				—				17,916				—				17,916
Accrued interest receivable			2,717				—				2,717				—				2,717
Derivatives - cash flow hedges			431				—				431				—				431
Financial Liabilities
Deposits		$	842,461			$	—			$	742,264			$	101,154			$	843,418
Subordinated debt			9,991				—				—				10,304				10,304
Junior subordinated debt			9,279				—				—				10,364				10,364
Accrued interest payable			134				—				134				—				134

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- Definition

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