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Note 20 - Disclosures About Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Fair Value Measurements and Financial Instruments Disclosure [Text Block]
(
20
)       
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS
 
The following table summarizes the carrying value and estimated fair value of financial instruments and the level within the fair value hierarchy (see Note
19
) in which the fair value measurements fall at
December 31, 2018
and
2017:
 
            Fair Value Measurements Using
(
In thousands
)
  
Carrying

Value		  
Fair

Value		  
Level 1
  
Level 2
  
Level 3
                     
December 31, 2018:                                        
                                         
Financial assets:                                        
Cash and cash equivalents   $
41,112
 
   $
41,112
 
   $
41,112
 
   $
–
 
   $
–
 
Interest-bearing time deposits    
7,710
 
    
7,650
 
    
–
 
    
7,650
 
    
–
 
Securities available for sale    
261,841
 
    
261,841
 
    
–
 
    
261,841
 
    
–
 
Loans held for sale    
2,849
 
    
2,900
 
    
–
 
    
2,900
 
    
–
 
Loans, net    
434,260
 
    
427,200
 
    
–
 
    
–
 
    
427,200
 
FHLB and other restricted stock    
1,988
 
    
N/A  
 
    
N/A
 
    
N/A
 
    
N/A
 
Accrued interest receivable    
2,828
 
    
2,828
 
    
–
 
    
2,828
 
    
–
 
Equity securities (included in other assets)    
1,715
 
    
1,715
 
    
1,715
 
    
–
 
    
–
 
                                         
Financial liabilities:                                        
Deposits    
701,646
 
    
699,864
 
    
–
 
    
–
 
    
699,864
 
Accrued interest payable    
150
 
    
150
 
    
–
 
    
150
 
    
–
 
                                         
December 31, 2017:                                        
                                         
Financial assets:                                        
Cash and cash equivalents   $
25,915
 
   $
25,915
 
   $
25,915
 
   $
–
 
   $
–
 
Interest-bearing time deposits    
9,258
 
    
9,220
 
    
–
 
    
9,220
 
    
–
 
Securities available for sale    
271,172
 
    
271,172
 
    
–
 
    
271,172
 
    
–
 
Securities held to maturity    
1
 
    
1
 
    
–
 
    
1
 
    
–
 
Loans held for sale    
2,630
 
    
2,678
 
    
–
 
    
2,678
 
    
–
 
Loans, net    
409,618
 
    
404,931
 
    
–
 
    
–
 
    
404,931
 
FHLB and other restricted stock    
1,979
 
    
N/A  
 
    
N/A
 
    
N/A
 
    
N/A
 
Accrued interest receivable    
2,694
 
    
2,694
 
    
–
 
    
2,694
 
    
–
 
                                         
Financial liabilities:                                        
Deposits    
664,562
 
    
663,006
 
    
–
 
    
–
 
    
663,006
 
FHLB advances    
10,000
 
    
10,000
 
    
–
 
    
10,000
 
    
–
 
Accrued interest payable    
107
 
    
107
 
    
–
 
    
107
 
    
–
 
 
The carrying amounts in the preceding table are included in the consolidated balance sheets under the applicable captions. In accordance with the Company’s adoption of ASU
2016
-
01
effective
January 1, 2018,
the table above for
December 31, 2018
presents the fair values measured using an exit price notion. The fair value of loans at
December 31, 2017
was measured using an entry price notion. The contractual or notional amounts of financial instruments with off-balance-sheet risk are disclosed in Note
16,
and the fair value of these instruments is considered immaterial.