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Note 17 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

						(Dollars in thousands)
						Fair Value Measurements at December 31, 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		$	5,591			$	-			$	5,591			$	-
Interest rate lock commitments			35				-				35				-
Available-for-sale debt securities:
U.S. government sponsored entities			7,883				-				7,883				-
Collateralized mortgage obligations and residential mortgage-backed securities			123,464				-				123,464				-
Municipal securities			238,670				-				238,670				-
Collateralized debt obligations			1,357				-				-				1,357
Total securities available-for-sale		$	371,374			$	-			$	370,017			$	1,357
Liabilities:
Interest rate swap contracts		$	5,591			$	-			$	5,591			$	-

						(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			56
Ending balance, December 31, 2022		$	1,048
Beginning balance, January 1, 2023		$	1,048
Principal payments			(3	)
Total unrealized gains, included in other comprehensive loss			312
Ending balance, December 31, 2023		$	1,357

Fair Value Measurements, Nonrecurring [Table Text Block]

						(Dollars in thousands)
						Fair Value Measurements at December 31, 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		$	8,673			$	-			$	-			$	8,673

						(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]

		December 31, 2023								Estimated Fair Value Measurements at December 31, 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		$	86,008			$	86,008			$	86,008			$	-			$	-
Loans held-for-sale			340				349				-				349				-
Loans receivable, net			1,493,827				1,412,069				-				-				1,412,069
Federal Home Loan Bank stock			6,547				6,547				-				6,547				-
Accrued interest receivable			8,045				8,045				-				8,045				-
Financial liabilities:
Non-interest bearing deposits			295,594				295,594				295,594				-				-
Interest bearing deposits			1,517,827				1,513,640				985,710				527,930				-
Repurchase agreements			38,124				37,938				31,033				6,905				-
Borrowed funds			80,000				79,791				-				79,791				-
Accrued interest payable			3,065				3,065				-				3,065				-

		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				-
Interest rate swap agreements			8,972				8,972				-				8,972				-
Accrued interest payable			336				336				-				336				-

Trust Preferred Securities Debt [Member]

Notes Tables

Debt Securities, Available-for-Sale, Allowance for Credit Loss [Table Text Block]

		(Dollars in thousands)
		Allowance for
		collateralized debt credit losses
Ending balance, December 31, 2022		$	173
Additions not previously recognized			-
Ending balance, December 31, 2023		$	173

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