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Note 6 - Fair Value Measurements (Tables)

3 Months Ended

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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