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Note 8 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

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
June 30, 2022
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	93,309			$	-			$	93,309
Agency CMO			-				8,007				-				8,007
Agency notes and bonds			-				132,637				-				132,637
Treasury notes and bonds			-				76,594				-				76,594
Municipal obligations			-				148,073				-				148,073
Total securities available for sale		$	-			$	458,620			$	-			$	458,620
Equity securities		$	1,845			$	-			$	-				1,845
Assets Measured on a Nonrecurring Basis
Impaired loans:
Residential real estate		$	-			$	-			$	27			$	27
Home equity and second mortgage			-				-				281				281
Total impaired loans		$	-			$	-			$	308			$	308
December 31, 2021
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	102,736			$	-			$	102,736
Agency CMO			-				7,961				-				7,961
Agency notes and bonds			-				129,096				-				129,096
Treasury notes and bonds			-				49,794				-				49,794
Municipal obligations			-				157,748				-				157,748
Total securities available for sale		$	-			$	447,335			$	-			$	447,335
Equity securities		$	1,881			$	-			$	-				1,881
Assets Measured on a Nonrecurring Basis
Impaired loans:
Home equity and second mortgage		$	-			$	-			$	281			$	281
Total impaired loans		$	-			$	-			$	281			$	281
Foreclosed real estate:
Residential real estate		$	-			$	-			$	36			$	36
Total foreclosed real estate		$	-			$	-			$	36			$	36

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
June 30, 2022:
Financial assets:
Cash and cash equivalents		$	124,068			$	124,068			$	124,068			$	-			$	-
Interest-bearing time deposits			4,386				4,340				-				4,340				-
Securities available for sale			458,620				458,620				-				458,620				-
Securities held to maturity			7,000				6,276				-				6,276				-
Loans held for sale			606				617				-				617				-
Loans, net			527,309				520,160				-				-				520,160
FHLB and other restricted stock			1,836				N/A				N/A				N/A				N/A
Accrued interest receivable			3,808				3,808				-				3,808				-
Equity securities (included in other assets)			1,845				1,845				1,845				-				-
Financial liabilities:
Deposits			1,084,643				1,083,125				-				-				1,083,125
Accrued interest payable			79				79				-				79				-
December 31, 2021:
Financial assets:
Cash and cash equivalents		$	172,509			$	172,509			$	172,509			$	-			$	-
Interest-bearing time deposits			4,839				4,965				-				4,965				-
Securities available for sale			447,335				447,335				-				447,335				-
Securities held to maturity			2,000				2,004				-				2,004				-
Loans held for sale			2,413				2,459				-				2,459				-
Loans, net			483,287				481,961				-				-				481,961
FHLB and other restricted stock			1,988				N/A				N/A				N/A				N/A
Accrued interest receivable			3,430				3,430				-				3,430				-
Equity securities (included in other assets)			1,881				1,881				1,881				-				-
Financial liabilities:
Deposits			1,035,562				1,035,406				-				-				1,035,406
Accrued interest payable			97				97				-				97				-

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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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