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Note 11 - Derivative Financial Instruments | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 11. Derivative Financial Instruments Fair Value Hedges The Company uses interest rate swaps to convert certain long term fixed rate loans to floating rates to hedge interest rate risk exposure. The Company uses hedge accounting in accordance with ASC 815, with the unrealized gains and losses, representing the change in fair value of the derivative and the change in fair value of the risk being hedged on the related loan, being recorded in the consolidated statements of income. The ineffective portions of the unrealized gains or losses, if any, are recorded in interest income and interest expense in the consolidated statements of income. The Company was required to pledge $1.0 million and $1.5 million of securities as collateral for these fair value hedges at September 30, 2022, and December 31, 2021, respectively. The table below identifies the notional amount, fair value and balance sheet category of the Company's fair value hedges at September 30, 2021, and December 31, 2021 (in thousands):
|  | Notional Amount |  |  | Fair Value |  | Balance Sheet Category
September 30, 2022 |  |  |  |  |  |  |  |  |
Fair value hedges |  | $ | 9,408 |  |  | $ | 1,165 |  | Other assets
December 31, 2021 |  |  |  |  |  |  |  |  |
Fair value hedges |  | $ | 20,399 |  |  | $ | (527 | ) | Other liabilities

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI https://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008 + Details
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- References No definition available. + Details
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