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Note 7 - Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2022
Notes Tables |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  | Fair Value Measurements Using |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | — |  |  | $ | 1,240 |  |  | $ | — |  |  | $ | 1,240 |
Municipal securities |  |  | — |  |  |  | 390 |  |  |  | — |  |  |  | 390 |
U.S. Treasury Notes |  |  | 125,005 |  |  |  | — |  |  |  | — |  |  |  | 125,005 |
Mortgage-backed securities – residential |  |  | — |  |  |  | 4,538 |  |  |  | — |  |  |  | 4,538 |
Collateralized mortgage obligations – residential |  |  | — |  |  |  | 1,461 |  |  |  | — |  |  |  | 1,461 |
|  | $ | 125,005 |  |  | $ | 7,629 |  |  | $ | — |  |  | $ | 132,634 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | — |  |  | $ | 2,728 |  |  | $ | — |  |  | $ | 2,728 |
U.S. Treasury Notes |  |  | 76,553 |  |  |  | — |  |  |  | — |  |  |  | 76,553 |
Mortgage-backed securities - residential |  |  | — |  |  |  | 4,833 |  |  |  | — |  |  |  | 4,833 |
Collateralized mortgage obligations – residential |  |  | — |  |  |  | 1,580 |  |  |  | — |  |  |  | 1,580 |
|  | $ | 76,553 |  |  | $ | 9,141 |  |  | $ | — |  |  | $ | 85,694 |
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  | Fair Value Measurement Using |  |  |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreclosed assets |  | $ | — |  |  | $ | — |  |  | $ | 694 |  |  | $ | 694 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | — |  |  | $ | — |  |  | $ | 267 |  |  | $ | 267 |
Foreclosed assets |  | $ | — |  |  | $ | — |  |  | $ | 725 |  |  | $ | 725 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] |
|  | Fair Value |  | Valuation Technique(s) |  | Significant Unobservable Input(s) |  | Range (Weighted Average) |  |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Foreclosed assets |  | $ | 694 |  | Redemption value |  | Discount applied to valuation |  |  | 7.6 | % |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 267 |  | Sales comparison |  | Discount applied to valuation |  |  | 22.0 | % |
Foreclosed assets |  | $ | 725 |  | Redemption value |  | Discount applied to valuation |  |  | 15.6 | % |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at March 31, 2022 Using: |  |  |  |  |
|  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 401,002 |  |  | $ | 356,112 |  |  | $ | 44,890 |  |  | $ | — |  |  | $ | 401,002 |
Securities |  |  | 132,634 |  |  |  | 125,005 |  |  |  | 7,629 |  |  |  | — |  |  |  | 132,634 |
Loans receivable, net of allowance for loan losses |  |  | 1,055,069 |  |  |  | — |  |  |  | — |  |  |  | 1,051,511 |  |  |  | 1,051,511 |
FHLB and FRB stock |  |  | 7,490 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | N /A |
Accrued interest receivable |  |  | 5,890 |  |  |  | 251 |  |  |  | 83 |  |  |  | 5,556 |  |  |  | 5,890 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 200,141 |  |  |  | — |  |  |  | 198,123 |  |  |  | — |  |  |  | 198,123 |
Borrowings |  |  | 5,000 |  |  |  | — |  |  |  | 4,999 |  |  |  | — |  |  |  | 4,999 |
Subordinated notes |  |  | 19,601 |  |  |  | — |  |  |  | 19,408 |  |  |  | — |  |  |  | 19,408 |
|  |  |  |  |  | Fair Value Measurements at December 31, 2021 Using: |  |  |  |  |
|  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 502,162 |  |  | $ | 448,552 |  |  | $ | 53,610 |  |  | $ | — |  |  | $ | 502,162 |
Securities |  |  | 85,694 |  |  |  | 76,553 |  |  |  | 9,141 |  |  |  | — |  |  |  | 85,694 |
Loans receivable, net of allowance for loan losses |  |  | 1,044,207 |  |  |  | — |  |  |  | — |  |  |  | 1,039,298 |  |  |  | 1,039,298 |
FHLB and FRB stock |  |  | 7,490 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | N /A |
Accrued interest receivable |  |  | 4,648 |  |  |  | 79 |  |  |  | 13 |  |  |  | 4,556 |  |  |  | 4,648 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 206,918 |  |  |  | — |  |  |  | 206,530 |  |  |  | — |  |  |  | 206,530 |
Borrowings |  |  | 5,000 |  |  |  | — |  |  |  | 4,999 |  |  |  | — |  |  |  | 4,999 |
Subordinated notes |  |  | 19,590 |  |  |  | — |  |  |  | 20,240 |  |  |  | — |  |  |  | 20,240 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + 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 (b) -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 (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 3: 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 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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