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Note 13 - Fair Value (Tables)

3 Months Ended

Mar. 31, 2022

Notes Tables

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

		(Dollars in thousands)
		Collateralized debt obligations
		other-than-temporary impairment
Ending balance, December 31, 2021		$	173
Additions not previously recognized			-
Ending balance,March 31, 2022		$	173

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

						(Dollars in thousands)
						Fair Value Measurements at March 31, 2022 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)
Assets:
Interest rate swap contracts		$	4,990			$	-			$	4,990			$	-
Interest rate lock commitments			166				-				166				-
Available-for-sale debt securities:
U.S. government sponsored entities			8,202				-				8,202				-
U.S. treasury securities			199				-				199				-
Collateralized mortgage obligations and residential mortgage-backed securities			164,123				-				164,123				-
Municipal securities			290,824				-				290,824				-
Collateralized debt obligations			972				-				-				972
Total securities available-for-sale		$	464,320			$	-			$	463,348			$	972
Liabilities:
Interest rate swap contracts		$	4,990			$	-			$	4,990			$	-

						(Dollars in thousands)
						Fair Value Measurements at December 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)
Assets:
Interest rate swap contracts		$	2,686			$	-			$	2,686			$	-
Interest rate lock commitments			141				-				141				-
Available-for-sale debt securities:
U.S. government sponsored entities			8,669				-				8,669				-
U.S. treasury securities			400				-				400				-
Collateralized mortgage obligations and residential mortgage-backed securities			184,701				-				184,701				-
Municipal securities			332,127				-				332,127				-
Collateralized debt obligations			992				-				-				992
Total securities available-for-sale		$	526,889			$	-			$	525,897			$	992
Liabilities:
Interest rate swap contracts		$	2,686			$	-			$	2,686			$	-

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, 2021		$	929
Principal payments			(5	)
Total unrealized losses, included in other comprehensive income			20
Ending balance, March 31, 2021		$	944
Beginning balance, January 1, 2022		$	992
Principal payments			-
Total unrealized gains, included in other comprehensive income			(20	)
Ending balance, March 31, 2022		$	972

Fair Value Measurements, Nonrecurring [Table Text Block]

						(Dollars in thousands)
						Fair Value Measurements at March 31, 2022 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		$	151			$	-			$	-			$	151

						(Dollars in thousands)
						Fair Value Measurements at December 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		$	896			$	-			$	-			$	896

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

		March 31, 2022								Estimated Fair Value Measurements at March 31, 2022 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		$	54,501			$	54,501			$	54,501			$	-			$	-
Certificates of deposit in other financial institutions			1,731				1,650				-				1,650				-
Loans held-for-sale			1,420				1,445				-				1,445				-
Loans receivable, net			1,426,341				1,382,030				-				-				1,382,030
Federal Home Loan Bank stock			3,038				3,038				-				3,038				-
Accrued interest receivable			7,427				7,427				-				7,427				-
Financial liabilities:
Non-interest bearing deposits			380,515				380,515				380,515				-				-
Interest bearing deposits			1,514,696				1,513,699				1,084,309				429,390				-
Repurchase agreements			23,239				23,150				12,939				10,211				-
Borrowed funds			5				5				5				-				-
Accrued interest payable			42				42				-				42				-

		December 31, 2021								Estimated Fair Value Measurements at December 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		$	33,176			$	33,176			$	33,176			$	-			$	-
Certificates of deposit in other financial institutions			1,709				1,737				-				1,737				-
Loans held-for-sale			4,987				5,065				-				5,065				-
Loans receivable, net			953,377				951,744				-				-				951,744
Federal Home Loan Bank stock			3,247				3,247				-				3,247				-
Accrued interest receivable			5,444				5,444				-				5,444				-
Financial liabilities:
Non-interest bearing deposits			295,294				295,294				295,294				-				-
Interest bearing deposits			1,138,907				1,139,126				899,690				239,436				-
Repurchase agreements			14,581				14,579				12,842				1,737				-
Borrowed funds			-				-				-				-				-
Accrued interest payable			22				22				-				22				-

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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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