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Note 6 - Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2021
Notes Tables |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at March 31, 2021 Using |
Description |  | Balance as of March 31, 2021 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
U.S. Government agencies and corporations |  | $ | 130,225 |  |  | $ | - |  |  | $ | 130,225 |  |  | $ | - |
States and political subdivisions |  |  | 199,185 |  |  |  | - |  |  |  | 199,185 |  |  |  | - |
Mortgage-backed securities |  |  | 239,796 |  |  |  | - |  |  |  | 239,796 |  |  |  | - |
Corporate debt securities |  |  | 2,153 |  |  |  | - |  |  |  | 2,153 |  |  |  | - |
Total securities available for sale |  | $ | 571,359 |  |  | $ | - |  |  | $ | 571,539 |  |  | $ | - |
|  |  |  |  |  | Fair Value Measurements at December 31, 2020 Using |
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) |
U.S. Government agencies and corporations |  | $ | 91,163 |  |  | $ | - |  |  | $ | 91,163 |  |  | $ | - |
States and political subdivisions |  |  | 203,961 |  |  |  | - |  |  |  | 203,961 |  |  |  | - |
Mortgage-backed securities |  |  | 249,175 |  |  |  | - |  |  |  | 249,175 |  |  |  | - |
Corporate debt securities |  |  | 2,443 |  |  |  | - |  |  |  | 2,443 |  |  |  | - |
Total securities available for sale |  | $ | 546,742 |  |  | $ | - |  |  | $ | 546,742 |  |  | $ | - |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at March 31, 2021 Using |
Description |  | Balance as of March 31, 2021 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Interest rate loan contracts |  | $ | (1 | ) |  | $ | - |  |  | $ | - |  |  | $ | (1 | )
Forward contracts |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |
|  |  |  |  |  | Fair Value Measurements at December 31, 2020 Using |
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) |
Interest rate loan contracts |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |
Forward contracts |  | $ | (11 | ) |  | $ | - |  |  | $ | - |  |  | $ | (11 | )
Schedule of Derivative Instruments [Table Text Block] |
March 31, 2021 | Valuation Technique | Unobservable Input | Range (Weighted Average) |
Interest rate loan contracts | Market approach | Pull-through rate |  |  | 83.00% | (1)
Forward contracts | Market approach | Pull-through rate |  |  | 83.00% | (1)
Interest rate loan contracts | Market approach | Current reference price |  |  | 101.57% | (2)
Forward contracts | Market approach | Current reference price | 98.51% | - | 101.57% | (99.30%)
December 31, 2020 | Valuation Technique | Unobservable Input | Range (Weighted Average)
Interest rate loan contracts | Market approach | Pull-through rate |  |  | 87.02% | (1)
Forward contracts | Market approach | Pull-through rate |  |  | 87.02% | (1)
Interest rate loan contracts | Market approach | Current reference price | 101.91% | - | 103.02% | (102.55%)(2)
Forward contracts | Market approach | Current reference price | 101.91% | - | 103.19% | (102.67%)(2)
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  |  |  |  |  |  | Carrying Value |
Date | Description |  | Balance |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
| Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2021 | Impaired loans net of valuation allowance |  | $ | 357 |  |  | $ | - |  |  | $ | - |  |  | $ | 357 |
December 31, 2020 | Impaired loans net of valuation allowance |  |  | 970 |  |  |  | - |  |  |  | - |  |  |  | 970 |
|  |  |  |  |  |  | Carrying Value |
Date | Description |  | Balance |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
| Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2021 | OREO net of valuation allowance |  | $ | 957 |  |  | $ | - |  |  | $ | - |  |  | $ | 957 |
December 31, 2020 | OREO net of valuation allowance |  |  | 1,553 |  |  |  | - |  |  |  | - |  |  |  | 1,553 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] |
Impaired Loans | Valuation Technique | Unobservable Input | Range (Weighted Average(1)) |
March 31, 2021 | Present value of cash flows | Discount rate | 6.00% | – | 6.50% | (6.26% | )
December 31, 2020 | Present value of cash flows | Discount rate | 5.50% | – | 6.50% | (5.78% | )
March 31, 2021 | Valuation Technique | Unobservable Input |  | Range (Weighted Average) |
OREO | Discounted appraised value | Selling cost |  |  | 6.20% | (3)
December 31, 2020 | Valuation Technique | Unobservable Input | Range (Weighted Average(1))
OREO | Discounted appraised value | Selling cost | 4.00%(2) | – | 9.23% | (4.54%)
OREO | Discounted appraised value | Discount for lack of marketability and age of appraisal | 0.00% | – | 7.66% | (0.62%)(1)
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  | March 31, 2021 |
|  | Carrying Amount |  |  | Quoted Prices in Active Markets for Identical Assets Level 1 |  |  | Significant Other Observable Inputs Level 2 |  |  | Significant Unobservable Inputs Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 12,677 |  |  | $ | 12,677 |  |  | $ | - |  |  | $ | - |
Interest-bearing deposits |  |  | 135,142 |  |  |  | 135,142 |  |  |  | - |  |  |  | - |
Securities |  |  | 571,359 |  |  |  | - |  |  |  | 571,359 |  |  |  | - |
Restricted securities |  |  | 845 |  |  |  | - |  |  |  | 845 |  |  |  | - |
Loans held for sale |  |  | 424 |  |  |  | - |  |  |  | 424 |  |  |  | - |
Loans, net |  |  | 770,824 |  |  |  | - |  |  |  | - |  |  |  | 765,123 |
Accrued interest receivable |  |  | 5,367 |  |  |  | - |  |  |  | 5,367 |  |  |  | - |
Bank-owned life insurance |  |  | 36,650 |  |  |  | - |  |  |  | 36,650 |  |  |  | - |
Forward contracts |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,358,588 |  |  | $ | - |  |  | $ | 1,268,939 |  |  | $ | 89,827 |
Accrued interest payable |  |  | 49 |  |  |  | - |  |  |  | 49 |  |  |  | - |
Interest rate loan contracts |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
|  | December 31, 2020 |
|  | Carrying Amount |  |  | Quoted Prices in Active Markets for Identical Assets Level 1 |  |  | Significant Other Observable Inputs Level 2 |  |  | Significant Unobservable Inputs Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 13,147 |  |  | $ | 13,147 |  |  | $ | - |  |  | $ | - |
Interest-bearing deposits |  |  | 120,725 |  |  |  | 120,725 |  |  |  | - |  |  |  | - |
Securities |  |  | 546,742 |  |  |  | - |  |  |  | 546,742 |  |  |  | - |
Restricted securities |  |  | 1,279 |  |  |  | - |  |  |  | 1,279 |  |  |  | - |
Loans held for sale |  |  | 866 |  |  |  | - |  |  |  | 866 |  |  |  | - |
Loans, net |  |  | 760,318 |  |  |  | - |  |  |  | - |  |  |  | 752,624 |
Accrued interest receivable |  |  | 5,028 |  |  |  | - |  |  |  | 5,028 |  |  |  | - |
Bank-owned life insurance |  |  | 36,444 |  |  |  | - |  |  |  | 36,444 |  |  |  | - |
Interest rate loan contracts |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,297,143 |  |  | $ | - |  |  | $ | 1,207,561 |  |  | $ | 89,681 |
Accrued interest payable |  |  | 56 |  |  |  | - |  |  |  | 56 |  |  |  | - |
Forward contracts |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | 11 |

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