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Note 2 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Notes Tables

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

		Fair Value Measurements at September 30, 2017 Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities			----			$	13,579				----
Agency mortgage-backed securities, residential			----				92,966				----

		Fair Value Measurements at December 31, 2016 Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities			----			$	10,544				----
Agency mortgage-backed securities, residential			----				85,946				----

		Fair Value Measurements at September 30, 2017, Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Residential real estate			----				----			$	94
Commercial real estate:
Nonowner-occupied			----				----				2,602
Other real estate owned:
Commercial real estate:
Construction			----				----				754

		Fair Value Measurements at December 31, 2016, Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans :
Commercial real estate :
Owner-occupied			----				----			$	3,536
Nonowner-occupied			----				----				1,985
Commercial and industrial			----				----				298
Other real estate owned :
Commercial real estate :
Construction			----				----				754

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

September 30, 2017

Fair Value

Valuation Technique(s)

Unobservable Input(s)

Range

(Weighted Average)

Impaired loans:

Residential real estate

$

94

Sales approach

Adjustment to comparables

10%

10%

Commercial real estate:

Nonowner-occupied

2,602

Sales approach

Adjustment to comparables

0%

to

250%

51.4%

Income approach

Capitalization Rate

8%

8%

Other real estate owned:

Commercial real estate:

Construction

754

Sales approach

Adjustment to comparables

0%

to

30%

11.7%

December 31, 2016		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range				(Weighted Average)
Impaired loans:
Commercial real estate:
Owner-occupied		$	3,536		Sales approach		Adjustment to comparables		0%	to	65%			13.7%
					Cost approach		Adjustment to comparables		0%	to	29.5%			14.8%
Nonowner-occupied			1,985		Sales approach		Adjustment to comparables		0%	to	250%			58.6%
Commercial and industrial			298		Sales approach		Adjustment to comparables		0.9%	to	9.7%			5.2%
Other real estate owned:
Commercial real estate:
Construction			754		Sales approach		Adjustment to comparables		0%	to	30%			11.7%

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

						Fair Value Measurements at September 30, 2017 Using:
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents		$	50,402			$	50,402			$	----			$	----			$	50,402
Certificates of deposit in financial institutions			1,820				----				1,820				----				1,820
Securities available for sale			106,545				----				106,545				----				106,545
Securities held to maturity			18,168				----				9,586				9,236				18,822
Restricted investments in bank stocks			7,506				N/A				N/A				N/A				N/A
Loans, net			770,644				----				----				772,063				772,063
Accrued interest receivable			2,532				----				394				2,138				2,532
Financial liabilities:
Deposits			849,181				233,178				616,081				----				849,259
Other borrowed funds			36,775				----				36,070				----				36,070
Subordinated debentures			8,500				----				6,377				----				6,377
Accrued interest payable			690				3				687				----				690

						Fair Value Measurements at December 31, 201 6 Using:
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents		$	40,166			$	40,166			$	----			$	----			$	40,166
Certificates of deposit in financial institutions			1,670				----				1,670				----				1,670
Securities available for sale			96,490				----				96,490				----				96,490
Securities held to maturity			18,665				----				9,541				9,630				19,171
Restricted investments in bank stocks			7,506				N/A				N/A				N/A				N/A
Loans, net			727,202				----				----				727,079				727,079
Accrued interest receivable			2,315				----				224				2,091				2,315
Financial liabilities:
Deposits			790,452				209,576				581,340				----				790,916
Other borrowed funds			37,085				----				35,948				----				35,948
Subordinated debentures			8,500				----				5,821				----				5,821
Accrued interest payable			513				4				509				----				513

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- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

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+ References

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