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Note 5 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Notes Tables

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

Description		Total				Level 1				Level 2				Level 3
2025
Assets
Securities available-for-sale
U.S. government treasuries		$	158,963			$	158,963			$	-			$	-
U.S. government agencies			86,624				-				86,624				-
U.S. government mortgage-backed securities			89,240				-				89,240				-
State and political subdivisions			245,561				-				245,561				-
Corporate bonds			60,028				-				60,028				-
Loans receivable			7,990				-				7,990				-
Derivative financial instruments			876				-				876				-
Liabilities
Derivative financial instruments		$	351			$	-			$	351			$	-
2024
Assets
Securities available-for-sale
U.S. government treasuries		$	167,715			$	167,715			$	-			$	-
U.S. government agencies			83,433				-				83,433				-
U.S. government mortgage-backed securities			91,050				-				91,050				-
State and political subdivisions			245,562				-				245,562				-
Corporate bonds			60,753				-				60,753				-
Loans receivable			7,923				-				7,923				-
Derivative financial instruments			996				-				996				-
Liabilities
Derivative financial instruments		$	248			$	-			$	248			$	-

Fair Value Measurements, Nonrecurring [Table Text Block]

Description		Total				Level 1				Level 2				Level 3
2025
Collateral dependent loans		$	-			$	-			$	-			$	-
2024
Collateral dependent loans		$	385			$	-			$	-			$	385

As of March 31, 2025, individually analyzed collateral dependent loans with a carrying value of $1.2 million were reduced by a specific reserve of $1.2 million, resulting in no reported fair value. As of December 31, 2024, individually analyzed collateral dependent loans with a carrying value of $483 thousand were reduced by a specific reserve of $98 thousand resulting in a reporting fair value of $385 thousand.

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

		2025
		Estimated			Valuation	Unobservable
		Fair Value			Techniques	Inputs		Range
Collateral dependent loans		$	-		Fair value of collateral	Valuation adjustments			0% - 20%

		2024
		Estimated			Valuation	Unobservable
		Fair Value			Techniques	Inputs		Range
Collateral dependent loans		$	385		Fair value of collateral	Valuation adjustments			0% - 25%

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

			2025								2024
	Fair Value						Estimated								Estimated
	Hierarchy		Carrying				Fair				Carrying				Fair
	Level		Amount				Value				Amount				Value
Financial assets:
Cash and cash equivalents	Level 1		$	163,391			$	163,391			$	101,227			$	101,227
Interest-bearing time deposits	Level 1			5,166				5,034				6,166				5,938
Securities available-for-sale	See previous table			640,416				640,416				648,513				648,513
FHLB and FRB stock	Level 2			3,384				3,384				3,883				3,883
Loans receivable, net	Level 3			1,306,230				1,268,007				1,303,917				1,261,703
Loans held for sale	Level 2			540				540				342				342
Accrued income receivable	Level 1			12,240				12,240				13,864				13,864
Derivative financial instruments	Level 2			876				876				996				996
Financial liabilities:
Deposits	Level 2		$	1,906,384			$	1,906,459			$	1,846,682			$	1,848,472
Securities sold under agreements to repurchase	Level 1			45,774				45,774				52,412				52,412
Other borrowings	Level 2			35,802				35,508				46,952				46,543
Accrued interest payable	Level 1			2,555				2,555				3,208				3,208
Derivative financial instruments	Level 2			351				351				248				248

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- Definition

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