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Note 11 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	66,512			$	-			$	66,512
Agency CMO			-				52,312				-				52,312
Agency notes and bonds			-				121,835				-				121,835
Treasury notes and bonds			34,383				-				-				34,383
Municipal obligations			-				133,427				-				133,427
Total securities available for sale		$	34,383			$	374,086			$	-			$	408,469
Equity securities		$	990			$	-			$	-				990
Assets Measured on a Nonrecurring Basis
Collateral dependent loans:
1-4 Family Residential Construction		$	-			$	-			$	37			$	37
Commercial Business			-				-				770				770
Total collateral dependent loans		$	-			$	-			$	807			$	807
December 31, 2023
Assets Measured on a Recurring Basis
Securities available for sale:
Agency mortgage-backed securities		$	-			$	72,044			$	-			$	72,044
Agency CMO			-				25,173				-				25,173
Agency notes and bonds			-				129,505				-				129,505
Treasury notes and bonds			63,084				-				-				63,084
Municipal obligations			-				147,465				-				147,465
Total securities available for sale		$	63,084			$	374,187			$	-			$	437,271
Equity securities		$	1,260			$	-			$	-				1,260
Assets Measured on a Nonrecurring Basis
Collateral dependent loans:
1-4 Family Residential Mortgage		$	-			$	-			$	27			$	27
1-4 Family Residential Construction			-				-				27				27
Total collateral dependent loans		$	-			$	-			$	54			$	54

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, 2024
Financial assets:
Cash and cash equivalents		$	89,939			$	89,939			$	89,939			$	-			$	-
Interest-bearing time deposits			2,695				2,744				-				2,744				-
Securities available for sale			408,469				408,469				34,383				374,086				-
Securities held to maturity			7,000				4,688				-				4,688				-
Loans held for sale			678				692				-				692				-
Loans, net			630,607				636,068				-				-				636,068
FHLB and other restricted stock			1,836				N/A				N/A				N/A				N/A
Accrued interest receivable			4,218				4,218				-				4,218				-
Equity securities (included in other assets)			990				990				990				-				-
Financial liabilities:
Deposits			1,030,249				1,029,528				-				-				1,029,528
Borrowed funds			33,625				33,627				-				33,627				-
Accrued interest payable			2,502				2,502				-				2,502				-
December 31, 2023
Financial assets:
Cash and cash equivalents		$	38,670			$	38,670			$	38,670			$	-			$	-
Interest-bearing time deposits			3,920				3,925				-				3,925				-
Securities available for sale			437,271				437,271				63,084				374,187				-
Securities held to maturity			7,000				4,446				-				4,446				-
Loans held for sale			800				811				-				811				-
Loans, net			614,409				609,243				-				-				609,243
FHLB and other restricted stock			1,836				N/A				N/A				N/A				N/A
Accrued interest receivable			4,788				4,788				-				4,788				-
Equity securities (included in other assets)			1,260				1,260				1,260				-				-
Financial liabilities:
Deposits			1,025,211				1,023,813				-				-				1,023,813
Borrowed funds			21,500				21,470				-				21,470				-
Accrued interest payable			1,209				1,209				-				1,209				-

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://www.xbrl.org/2003/role/disclosureRef
-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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-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 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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