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Note 8 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

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

		Carrying Value
(In thousands)		Level 1				Level 2				Level 3				Total
September 30, 2020
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	67,766			$	-			$	67,766
Agency CMO			-				28,153				-				28,153
Agency notes and bonds			-				66,102				-				66,102
Municipal obligations			-				102,013				-				102,013
Total securities available for sale		$	-			$	264,034			$	-			$	264,034
Equity securities		$	1,620			$	-			$	-				1,620
Assets Measured on a Nonrecurring Basis
Impaired loans:
Residential real estate		$	-			$	-			$	1,591			$	1,591
Land			-				-				97				97
Commercial real estate			-				-				1,284				1,284
Commercial business			-				-				298				298
Home equity and second mortgage			-				-				352				352
Total impaired loans		$	-			$	-			$	3,622			$	3,622
Loans held for sale		$	-			$	6,935			$	-			$	6,935
Foreclosed real estate:
Residential real estate		$	-			$	-			$	57			$	57
Total foreclosed real estate		$	-			$	-			$	57			$	57
December 31, 2019
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	69,498			$	-			$	69,498
Agency CMO			-				43,084				-				43,084
Agency notes and bonds			-				64,556				-				64,556
Municipal obligations			-				77,424				-				77,424
Total securities available for sale		$	-			$	254,562			$	-			$	254,562
Equity securities		$	1,746			$	-			$	-				1,746
Assets Measured on a Nonrecurring Basis
Impaired loans:
Residential real estate		$	-			$	-			$	1,910			$	1,910
Land			-				-				115				115
Commercial real estate			-				-				353				353
Commercial business			-				-				249				249
Home equity and second mortgage			-				-				56				56
Other consumer			-				-				48				48
Total impaired loans		$	-			$	-			$	2,731			$	2,731
Loans held for sale		$	-			$	4,176			$	-			$	4,176
Foreclosed real estate:
Residential real estate		$	-			$	-			$	170			$	170
Total foreclosed real estate		$	-			$	-			$	170			$	170

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

		Carrying				Fair				Fair Value Measurements Using
(In thousands)		Value				Value				Level 1				Level 2				Level 3
September 30, 2020
Financial assets:
Cash and cash equivalents		$	134,211			$	134,211			$	134,211			$	-			$	-
Interest-bearing time deposits			6,843				7,176				-				7,176				-
Securities available for sale			264,034				264,034				-				264,034				-
Loans held for sale			6,935				7,001				-				7,001				-
Loans, net			492,128				502,630				-				-				502,630
FHLB and other restricted stock			1,988				N/A				N/A				N/A				N/A
Accrued interest receivable			3,320				3,320				-				3,320				-
Equity securities (included in other assets)			1,620				1,620				1,620				-				-
Financial liabilities:
Deposits			833,399				835,706				-				-				835,706
Accrued interest payable			168				168				-				168				-
December 31, 2019:
Financial assets:
Cash and cash equivalents		$	51,360			$	51,360			$	51,360			$	-			$	-
Interest-bearing time deposits			6,490				6,654				-				6,654				-
Securities available for sale			254,562				254,562				-				254,562				-
Loans held for sale			4,176				4,243				-				4,243				-
Loans, net			466,694				482,119				-				-				482,119
FHLB and other restricted stock			1,988				N/A				N/A				N/A				N/A
Accrued interest receivable			3,076				3,076				-				3,076				-
Equity securities (included in other assets)			1,746				1,746				1,746				-				-
Financial liabilities:
Deposits			722,177				721,729				-				-				721,729
Accrued interest payable			210				210				-				210				-

X

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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