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v3.23.2

Note 14 - Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2023
Notes Tables |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  |  |  |  |  | (Dollars in thousands) |
|  |  |  |  | Fair Value Measurements at June 30, 2023 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 |  | $ | 8,492 |  |  | $ | - |  |  | $ | 8,492 |  |  | $ | - |
Interest rate lock commitments |  |  | 87 |  |  |  | - |  |  |  | 87 |  |  |  | - |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entities |  |  | 7,673 |  |  |  | - |  |  |  | 7,673 |  |  |  | - |
U.S. treasury securities |  |  | 124 |  |  |  | - |  |  |  | 124 |  |  |  | - |
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 127,661 |  |  |  | - |  |  |  | 127,661 |  |  |  | - |
Municipal securities |  |  | 231,603 |  |  |  | - |  |  |  | 231,603 |  |  |  | - |
Collateralized debt obligations |  |  | 1,075 |  |  |  | - |  |  |  | - |  |  |  | 1,075 |
Total securities available-for-sale |  | $ | 368,136 |  |  | $ | - |  |  | $ | 367,061 |  |  | $ | 1,075 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts |  | $ | 8,492 |  |  | $ | - |  |  | $ | 8,492 |  |  | $ | - |
|  |  |  |  |  | (Dollars in thousands) |
|  |  |  |  |  | Fair Value Measurements at December 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 |  | $ | 8,972 |  |  | $ | - |  |  | $ | 8,972 |  |  | $ | - |
Interest rate lock commitments |  |  | 38 |  |  |  | - |  |  |  | 38 |  |  |  | - |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entities |  |  | 7,625 |  |  |  | - |  |  |  | 7,625 |  |  |  | - |
U.S. treasury securities |  |  | 389 |  |  |  | - |  |  |  | 389 |  |  |  | - |
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 134,116 |  |  |  | - |  |  |  | 134,116 |  |  |  | - |
Municipal securities |  |  | 227,718 |  |  |  | - |  |  |  | 227,718 |  |  |  | - |
Collateralized debt obligations |  |  | 1,048 |  |  |  | - |  |  |  | - |  |  |  | 1,048 |
Total securities available-for-sale |  | $ | 370,896 |  |  | $ | - |  |  | $ | 369,848 |  |  | $ | 1,048 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts |  | $ | 8,972 |  |  | $ | - |  |  | $ | 8,972 |  |  | $ | - |
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, 2022 |  | $ | 992 |
Principal payments |  |  | - |
Total unrealized gains, included in other comprehensive income. |  |  | (20 | )
Ending balance, June 30, 2022 |  | $ | 972 |
Beginning balance, January 1, 2023 |  | $ | 1,048 |
Principal payments |  |  | - |
Total unrealized gains, included in other comprehensive loss |  |  | 27 |
Ending balance, June 30, 2023 |  | $ | 1,075 |
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  |  |  |  |  | (Dollars in thousands) |
|  |  |  |  |  | Fair Value Measurements at June 30, 2023 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) |
Collateral dependent loans |  | $ | 6,945 |  |  | $ | - |  |  | $ | - |  |  | $ | 6,945 |
|  |  |  |  |  | (Dollars in thousands) |
|  |  |  |  |  | Fair Value Measurements at December 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 |  | $ | 2,620 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,620 |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  | June 30, 2023 |  |  | Estimated Fair Value Measurements at June 30, 2023 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 |  | $ | 115,673 |  |  | $ | 115,673 |  |  | $ | 115,673 |  |  | $ | - |  |  | $ | - |
Loans held-for-sale |  |  | 1,832 |  |  |  | 1,859 |  |  |  | - |  |  |  | 1,859 |  |  |  | - |
Loans receivable, net |  |  | 1,514,654 |  |  |  | 1,422,459 |  |  |  | - |  |  |  | - |  |  |  | 1,422,459 |
Federal Home Loan Bank stock |  |  | 6,547 |  |  |  | 6,547 |  |  |  | - |  |  |  | 6,547 |  |  |  | - |
Accrued interest receivable |  |  | 7,714 |  |  |  | 7,714 |  |  |  | - |  |  |  | 7,714 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing deposits |  |  | 315,671 |  |  |  | 315,671 |  |  |  | 315,671 |  |  |  | - |  |  |  | - |
Interest bearing deposits |  |  | 1,479,476 |  |  |  | 1,476,202 |  |  |  | 974,771 |  |  |  | 501,431 |  |  |  | - |
Repurchase agreements |  |  | 46,402 |  |  |  | 46,226 |  |  |  | 39,420 |  |  |  | 6,806 |  |  |  | - |
Borrowed funds |  |  | 150,000 |  |  |  | 149,147 |  |  |  | - |  |  |  | 149,147 |  |  |  | - |
Accrued interest payable |  |  | 1,630 |  |  |  | 1,630 |  |  |  | - |  |  |  | 1,630 |  |  |  | - |
|  | December 31, 2022 |  |  | Estimated Fair Value Measurements at December 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 |  | $ | 31,282 |  |  | $ | 31,282 |  |  | $ | 31,282 |  |  | $ | - |  |  | $ | - |
Certificates of deposit in other financial institutions |  |  | 2,456 |  |  |  | 2,404 |  |  |  | - |  |  |  | 2,404 |  |  |  | - |
Loans held-for-sale |  |  | 1,543 |  |  |  | 1,555 |  |  |  | - |  |  |  | 1,555 |  |  |  | - |
Loans receivable, net |  |  | 1,500,734 |  |  |  | 1,437,496 |  |  |  | - |  |  |  | - |  |  |  | 1,437,496 |
Federal Home Loan Bank stock |  |  | 6,547 |  |  |  | 6,547 |  |  |  | - |  |  |  | 6,547 |  |  |  | - |
Accrued interest receivable |  |  | 7,421 |  |  |  | 7,421 |  |  |  | - |  |  |  | 7,421 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing deposits |  |  | 359,092 |  |  |  | 359,092 |  |  |  | 359,092 |  |  |  | - |  |  |  | - |
Interest bearing deposits |  |  | 1,415,925 |  |  |  | 1,414,738 |  |  |  | 1,052,807 |  |  |  | 361,931 |  |  |  | - |
Repurchase agreements |  |  | 15,503 |  |  |  | 15,361 |  |  |  | 7,975 |  |  |  | 7,386 |  |  |  | - |
Borrowed funds |  |  | 120,000 |  |  |  | 119,689 |  |  |  | - |  |  |  | 119,689 |  |  |  | - |
Accrued interest payable |  |  | 336 |  |  |  | 336 |  |  |  | - |  |  |  | 336 |  |  |  | - |

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