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Note 7 - Fair Value (Tables)

9 Months Ended

Sep. 30, 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
September 30, 2022
Securities:
Certificates of deposit		$	—			$	1,488			$	—			$	1,488
Municipal securities			—				383				—				383
U.S. Treasury Notes			162,265				—				—				162,265
U.S. government-sponsored agencies			—				29,750				—				29,750
Mortgage-backed securities – residential			—				4,181				—				4,181
Collateralized mortgage obligations – residential			—				1,272				—				1,272
		$	162,265			$	37,074			$	—			$	199,339
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
September 30, 2022
Foreclosed assets		$	—			$	—			$	524			$	524
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)
September 30, 2022
Foreclosed assets		$	524		Redemption value		Discount applied to valuation			8.4	%
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 September 30, 2022 Using:
		Carrying Amount				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	216,131			$	214,013			$	2,118			$	—			$	216,131
Securities			199,339				162,265				37,074				—				199,339
Loans receivable, net of allowance for loan losses			1,141,799				—				—				1,127,370				1,127,370
FHLB and FRB stock			7,490				—				—				—				N /A
Accrued interest receivable			7,011				420				190				6,401				7,011
Financial liabilities
Certificates of deposit			188,523				—				184,501				—				184,501
Subordinated notes			19,623				—				18,262				—				18,262

						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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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).

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