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Note 6 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

						Fair Value Measurement Using
June 30, 2024		Balance				Level 1				Level 2				Level 3
U.S. government agencies and corporations		$	308,813			$	-			$	308,813			$	-
States and political subdivisions			146,002				-				146,002				-
Mortgage-backed securities			143,746				-				143,746				-
Corporate debt securities			5,657				-				5,657				-
U.S. treasury			978				-				978				-
Total securities available for sale		$	605,196			$	-			$	605,196			$	-

						Fair Value Measurement Using
December 31, 2023		Balance				Level 1				Level 2				Level 3
U.S. government agencies and corporations		$	311,844			$	-			$	311,844			$	-
States and political subdivisions			149,893				-				149,893				-
Mortgage-backed securities			150,151				-				150,151				-
Corporate debt securities			5,750				-				5,750				-
U.S. treasury			963				-				963				-
Total securities available for sale		$	618,601			$	-			$	618,601			$	-

						Fair Value Measurement Using
June 30, 2024		Balance				(Level 1)				(Level 2)				(Level 3)
Interest rate loan contract		$	1			$	-			$	-			$	1
Forward sale commitment		$	(2	)		$	-			$	-			$	(2	)

June 30, 2024	Valuation Technique	Unobservable Input		Range (Weighted Average)
Interest rate loan contract	Market approach	Pull-through rate			100%			(1)
Forward sale commitment	Market approach	Pull-through rate			100%			(1)
Interest rate loan contract	Market approach	Current reference price			101.21%			(3)
Forward sale commitment	Market approach	Current reference price			100.08%	-	102.00%	(101.12%)(2)

						Fair Value Measurement Using
December 31, 2023		Balance				(Level 1)				(Level 2)				(Level 3)
Interest rate loan contract		$	3			$	-			$	-			$	3
Forward sale commitment		$	(4	)		$	-			$	-			$	(4	)

December 31, 2023	Valuation Technique	Unobservable Input		Range (Weighted Average)
Interest rate loan contract	Market approach	Pull-through rate			100%			(1)
Forward sale commitment	Market approach	Pull-through rate			100%			(1)
Interest rate loan contract	Market approach	Current reference price			102.64%			(3)
Forward sale commitment	Market approach	Current reference price			101.60%	-	102.64%	(101.98%)(2)

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

						Estimated Fair Value
June 30, 2024		Carrying Amount				Level 1				Level 2				Level 3
Financial assets:
Cash and due from banks		$	14,908			$	14,908			$	-			$	-
Federal funds sold			3,499				3,499
Interest-bearing deposits			80,477				80,477				-				-
Securities available for sale			605,196				-				605,196				-
Restricted stock, at cost			1,752				-				1,752				-
Mortgage loans held for sale			125				-				125				-
Loans, net			978,865				-				-				919,403
Accrued interest receivable			6,615				-				6,615				-
Bank-owned life insurance			46,775				-				46,775				-
Interest rate loan contract			1				-				-				1
Financial liabilities:
Deposits		$	1,645,052			$	-			$	1,340,993			$	303,497
Accrued interest payable			2,525				-				2,525				-
Forward sale commitment			2				-				-				2

						Estimated Fair Value
December 31, 2023		Carrying Amount				Level 1				Level 2				Level 3
Financial assets:
Cash and due from banks		$	12,967			$	12,967			$	-			$	-
Interest-bearing deposits			73,636				73,636				-				-
Securities available for sale			618,601				-				618,601				-
Restricted stock, at cost			1,264				-				1,264				-
Mortgage loans held for sale			406				-				406				-
Loans, net			847,552				-				-				793,800
Accrued interest receivable			6,313				-				6,313				-
Bank-owned life insurance			43,583				-				43,583				-
Interest rate loan contract			3				-				-				3
Financial liabilities:
Deposits		$	1,503,972			$	-			$	1,280,732			$	222,374
Accrued interest payable			1,416				-				1,416				-
Forward sale commitment			4				-				-				4

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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