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Note 13 - Fair Value (Tables)

3 Months Ended

Mar. 31, 2021

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, 2020		$	173
Additions not previously recognized			-
Ending balance, March 31, 2021		$	173

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

						Fair Value Measurements at March 31, 2021 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:
U.S. government sponsored entities			12,617				-				12,617				-
U.S. treasury securities			402				-				402				-
Collateralized mortgage obligations and residential mortgage-backed securities			188,122				-				188,122				-
Municipal securities			220,783				-				220,783				-
Collateralized debt obligations			944				-				-				944
Total securities available-for-sale		$	422,868			$	-			$	421,924			$	944

						Fair Value Measurements at December 31, 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		$	52,941			$	52,941			$	-			$	-
U.S. government sponsored entities			7,860				-				7,860				-
Collateralized mortgage obligations and residential mortgage-backed securities			154,736				-				154,736				-
Municipal securities			194,203				-				194,203				-
Collateralized debt obligations			929				-				-				929
Total securities available-for-sale		$	410,669			$	52,941			$	356,799			$	929

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, 2020		$	1,076
Principal payments			(20	)
Total unrealized gains, included in other comprehensive income			(127	)
Ending balance, December 31, 2020		$	929
Beginning balance, January 1, 2021		$	929
Principal payments			(5	)
Total unrealized losses, included in other comprehensive income			20
Ending balance, March 31, 2021		$	944

Fair Value Measurements, Nonrecurring [Table Text Block]

						(Dollars in thousands)
						Fair Value Measurements at March 31, 2021 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		$	10,334			$	-			$	-			$	10,334
Foreclosed real estate			491				-				-				491

						(Dollars in thousands)
						Fair Value Measurements at December 31, 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		$	10,046			$	-			$	-			$	10,046
Foreclosed real estate			538				-				-				538

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

		March 31, 2021								Estimated Fair Value Measurements at March 31, 2021 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		$	68,009			$	68,009			$	68,009			$	-			$	-
Certificates of deposit in other financial institutions			1,474				1,522				-				1,522				-
Securities available-for-sale			422,868				422,868				-				421,924				944
Loans held-for-sale			4,256				4,364				4,364				-				-
Loans receivable, net			961,007				983,783				-				-				983,783
Federal Home Loan Bank stock			3,918				3,918				-				3,918				-
Interest rate swap agreements			3,391				3,391				-				3,391				-
Accrued interest receivable			4,997				4,997				-				4,997				-
Financial liabilities:
Non-interest bearing deposits			286,969				286,969				286,969				-				-
Interest bearing deposits			1,079,725				1,081,621				797,644				283,977				-
Repurchase agreements			15,917				15,928				14,182				1,746				-
Interest rate swap agreements			3,391				3,391				-				3,391				-
Accrued interest payable			45				45				-				45				-

		December 31, 2020								Estimated Fair Value Measurements at December 31, 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		$	19,922			$	19,922			$	19,922			$	-			$	-
Certificates of deposit in other financial institutions			1,897				1,868				-				1,868				-
Securities available-for-sale			410,669				410,669				52,941				356,799				929
Loans held-for-sale			11,329				11,660				11,660				-				-
Loans receivable, net			954,120				984,270				-				-				984,270
Federal Home Loan Bank stock			3,918				3,918				-				3,918				-
Interest rate swap agreements			3,638				3,638				-				3,638				-
Accrued interest receivable			4,713				4,713				-				4,713				-
Financial liabilities:
Non-interest bearing deposits			241,620				241,620				241,620				-				-
Interest bearing deposits			1,060,719				1,061,294				775,891				285,403				-
Repurchase agreements			13,711				13,713				11,976				1,737				-
Borrowed funds			6,149				6,018				-				6,018				-
Interest rate swap agreements			3,638				3,638				-				3,638				-
Accrued interest payable			54				54				-				54				-

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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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