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Note 11 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 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
September 30, 2023
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	72,073			$	-			$	72,073
Agency CMO			-				22,815				-				22,815
Agency notes and bonds			-				134,992				-				134,992
Treasury notes and bonds			-				73,714				-				73,714
Municipal obligations			-				136,486				-				136,486
Total securities available for sale		$	-			$	440,080			$	-			$	440,080
Equity securities		$	1,381			$	-			$	-				1,381
Assets Measured on a Nonrecurring Basis
Collateral dependent loans:
1-4 Family Residential Mortgage		$	-			$	-			$	27			$	27
Total collateral dependent loans		$	-			$	-			$	27			$	27
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
September 30, 2023:
Financial assets:
Cash and cash equivalents		$	31,430			$	31,430			$	31,430			$	-			$	-
Interest-bearing time deposits			4,165				4,119				-				4,119				-
Securities available for sale			440,080				440,080				-				440,080				-
Securities held to maturity			7,000				4,472				-				4,472				-
Loans held for sale			1,360				1,379				-				1,379				-
Loans, net			602,319				598,364				-				-				598,364
FHLB and other restricted stock			1,836				N/A				N/A				N/A				N/A
Accrued interest receivable			4,317				4,317				-				4,317				-
Equity securities (included in other assets)			1,381				1,381				1,381				-				-
Financial liabilities:
Deposits			1,017,491				1,015,375				-				-				1,015,375
Borrowed funds			28,000				27,946								27,946
Accrued interest payable			1,506				1,506				-				1,506				-
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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