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Note 11 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	77,546			$	-			$	77,546
Agency CMO			-				13,984				-				13,984
Agency notes and bonds			-				135,600				-				135,600
Treasury notes and bonds			-				79,062				-				79,062
Municipal obligations			-				149,550				-				149,550
Total securities available for sale		$	-			$	455,742			$	-			$	455,742
Equity securities		$	1,512			$	-			$	-				1,512
Assets Measured on a Nonrecurring Basis
Collateral dependent loans:
1-4 Family Residential Mortgage		$	-			$	-			$	27			$	27
Total collateral dependent loans		$	-			$	-			$	27			$	27
Foreclosed real estate:
1-4 Family Residential Mortgage		$	-			$	-			$	63			$	63
Total foreclosed real estate		$	-			$	-			$	63			$	63
December 31, 2022
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	83,863			$	-			$	83,863
Agency CMO			-				9,353				-				9,353
Agency notes and bonds			-				137,981				-				137,981
Treasury notes and bonds			-				78,732				-				78,732
Municipal obligations			-				150,890				-				150,890
Total securities available for sale		$	-			$	460,819			$	-			$	460,819
Equity securities		$	1,467			$	-			$	-				1,467

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, 2023:
Financial assets:
Cash and cash equivalents		$	47,471			$	47,471			$	47,471			$	-			$	-
Interest-bearing time deposits			4,654				4,597				-				4,597				-
Securities available for sale			455,742				455,742				-				455,742				-
Securities held to maturity			7,000				4,748				-				4,748				-
Loans held for sale			996				1,005				-				1,005				-
Loans, net			582,944				578,635				-				-				578,635
FHLB and other restricted stock			1,836				N/A				N/A				N/A				N/A
Accrued interest receivable			4,336				4,336				-				4,336				-
Equity securities (included in other assets)			1,512				1,512				1,512				-				-
Financial liabilities:
Deposits			1,042,441				1,040,115				-				-				1,040,115
Borrowed funds			13,000				13,000								13,000
Accrued interest payable			705				705				-				705				-
December 31, 2022:
Financial assets:
Cash and cash equivalents		$	66,298			$	66,298			$	66,298			$	-			$	-
Interest-bearing time deposits			3,677				3,638				-				3,638				-
Securities available for sale			460,819				460,819				-				460,819				-
Securities held to maturity			7,000				5,311				-				5,311				-
Loans held for sale			793				803				-				803				-
Loans, net			557,958				554,634				-				-				554,634
FHLB and other restricted stock			1,836				N/A				N/A				N/A				N/A
Accrued interest receivable			4,285				4,285				-				4,285				-
Equity securities (included in other assets)			1,467				1,467				1,467				-				-
Financial liabilities:
Deposits			1,060,396				1,058,122				-				-				1,058,122
Accrued interest payable			123				123				-				123				-

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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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