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Note 14 - Fair Value (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]

		(Dollars in Thousands)
		Collateralized
		debt obligations
		other-than-temporary
(Dollars in thousands)		impairment
Ending balance, December 31, 2019		$	173
Additions not previously recognized			-
Ending balance, September 30, 2020		$	173

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

						Fair Value Measurements at September 30, 2020, Using
(Dollars in thousands)		Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Available-for-sale debt securities:
Money market fund		$	26,789			$	26,789			$	-			$	-
U.S. government sponsored entities			4,989								4,989
Collateralized mortgage obligations and residential mortgage-backed securities			128,963				-				128,963				-
Municipal securities			162,561				-				162,561				-
Collateralized debt obligations			879				-				-				879
Total securities available-for-sale		$	324,181			$	26,789			$	296,513			$	879

						Fair Value Measurements at December 31, 2019, Using
(Dollars in thousands)		Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Available-for-sale debt securities:
Money market fund		$	9,670			$	9,670			$	-			$	-
U.S. government sponsored entities			13,058				-				13,058				-
Collateralized mortgage obligations and residential mortgage-backed securities			150,988				-				150,988				-
Municipal securities			102,427				-				102,427				-
Collateralized debt obligations			1,076				-				-				1,076
Total securities available-for-sale		$	277,219			$	9,670			$	266,473			$	1,076

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(Dollars in thousands)		Estimated Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
		Available-for- sale securities
Beginning balance, January 1, 2019		$	2,049
Principal payments			(38	)
Total unrealized gains, included in other comprehensive income			52
Transfers in and/or (out) of Level 3			(987	)
Ending balance, December 31, 2019		$	1,076
Beginning balance, January 1, 2020		$	1,076
Principal payments			(16	)
Total unrealized losses, included in other comprehensive income..			(181	)
Sale out of Level 3			-
Ending balance, September 30, 2020		$	879

Fair Value Measurements, Nonrecurring [Table Text Block]

						(Dollars in thousands)
						Fair Value Measurements at September 30, 2020, Using
(Dollars in thousands)		Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired loans		$	10,985			$	-			$	-			$	10,985
Foreclosed real estate			501				-				-				501

						(Dollars in thousands)
						Fair Value Measurements at December 31, 2019, Using
(Dollars in thousands)		Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired loans		$	7,052			$	-			$	-			$	7,052
Foreclosed real estate			1,083				-				-				1,083

Fair Value, by Balance Sheet Grouping [Table Text Block]

		September 30, 2020								Estimated Fair Value Measurements at September 30, 2020 Using
(Dollars in thousands)		Carrying Value				Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents		$	84,447			$	84,447			$	84,447			$	-			$	-
Certificates of deposit in other financial institutions			1,901				1,872				-				1,872				-
Securities available-for-sale			324,181				324,181				4,989				318,313				879
Loans held-for-sale			5,538				5,721				5,721				-				-
Loans receivable, net			965,226				986,847				-				-				986,847
Federal Home Loan Bank stock			3,918				3,918				-				3,918				-
Interest rate swap agreements			4,062				4,062				-				4,062				-
Accrued interest receivable			4,714				4,714				-				4,714				-
Financial liabilities:
Non-interest bearing deposits			258,170				258,170				258,170				-				-
Interest bearing deposits			1,022,486				1,023,402				737,047				286,355				-
Repurchase agreements			19,145				19,149				17,411				1,738				-
Borrowed funds			12,000				12,072				-				12,072				-
Interest rate swap agreements			4,062				4,062				-				4,062				-
Accrued interest payable			62				62				-				62				-

		December 31, 2019								Estimated Fair Value Measurements at December 31, 2019 Using
(Dollars in thousands)		Carrying Value				Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents		$	47,258			$	47,258			$	47,258			$	-			$	-
Certificates of deposit in other financial institutions			2,170				2,137				-				2,137				-
Securities available-for-sale			277,219				277,219				9,670				266,473				1,076
Loans held-for-sale			6,091				6,204				6,204				-				-
Loans receivable, net			897,870				917,174				-				-				917,174
Federal Home Loan Bank stock			3,912				3,912				-				3,912				-
Interest rate swap agreements			1,358				1,358				-				1,358				-
Accrued interest receivable			4,029				4,029				-				4,029				-
Financial liabilities:
Non-interest bearing deposits			172,094				172,094				172,094				-				-
Interest bearing deposits			982,276				982,241				654,573				327,668				-
Repurchase agreements			11,499				11,499				9,721				1,778				-
Borrowed funds			14,000				14,108				-				14,108				-
Interest rate swap agreements			1,358				1,358				-				1,358				-
Accrued interest payable			179				179				-				179				-

X

- 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).

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Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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