XML 41 R31.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

Note 12 - Fair Value (Tables)

3 Months Ended

Mar. 31, 2024

Notes Tables

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

						(Dollars in thousands)
						Fair Value Measurements at March 31, 2024 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		$	5,810			$	-			$	5,810			$	-
Interest rate lock commitments			43				-				43				-
Available-for-sale debt securities:
U.S. government sponsored entities			7,866				-				7,866				-
Collateralized mortgage obligations and residential mortgage-backed securities			117,897				-				117,897				-
Municipal securities			219,028				-				219,028				-
Collateralized debt obligations			1,442				-				-				1,442
Total securities available-for-sale		$	346,233			$	-			$	344,791			$	1,442
Liabilities:
Interest rate swap contracts		$	5,810			$	-			$	5,810			$	-

						(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			$	-

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, 2023		$	1,048
Principal payments			-
Total unrealized gains, included in other comprehensive income			(31	)
Ending balance, March 31, 2023		$	1,017
Beginning balance, January 1, 2024		$	1,357
Principal payments			(4	)
Total unrealized gains, included in other comprehensive loss			89
Ending balance, March 31, 2024		$	1,442

Fair Value Measurements, Nonrecurring [Table Text Block]

						(Dollars in thousands)
						Fair Value Measurements at March 31, 2024 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		$	1,402			$	-			$	-			$	1,402

						(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

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

		March 31, 2024								Estimated Fair Value Measurements at March 31, 2024 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		$	71,780			$	71,780			$	71,780			$	-			$	-
Loans held-for-sale			667				675				-				675				-
Loans receivable, net			1,489,446				1,390,210				-				-				1,390,210
Federal Home Loan Bank stock			6,547				6,547				-				6,547				-
Accrued interest receivable			7,583				7,583				-				7,583				-
Financial liabilities:
Non-interest bearing deposits			296,959				296,959				296,959				-				-
Interest bearing deposits			1,450,519				1,447,505				919,195				528,310				-
Repurchase agreements			41,137				40,893				33,655				7,238				-
Borrowed funds			90,000				89,822				-				89,822				-
Accrued interest payable			712				712				-				712				-

		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				-

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).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration