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Note 12 - Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 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 |  | $ | 5,696 |  |  | $ | - |  |  | $ | 5,696 |  |  | $ | - |
Interest rate lock commitments |  |  | 37 |  |  |  | - |  |  |  | 37 |  |  |  | - |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entities |  |  | 7,888 |  |  |  | - |  |  |  | 7,888 |  |  |  | - |
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 114,781 |  |  |  | - |  |  |  | 114,781 |  |  |  | - |
Municipal securities |  |  | 215,545 |  |  |  | - |  |  |  | 215,545 |  |  |  | - |
Collateralized debt obligations |  |  | 1,371 |  |  |  | - |  |  |  | - |  |  |  | 1,371 |
Total securities available-for-sale |  | $ | 339,585 |  |  | $ | - |  |  | $ | 338,214 |  |  | $ | 1,371 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts |  | $ | 5,696 |  |  | $ | - |  |  | $ | 5,696 |  |  | $ | - |
|  |  |  |  |  | (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 |  |  | 27 |
Ending balance, June 30, 2023 |  | $ | 1,075 |
Beginning balance, January 1, 2024 |  | $ | 1,357 |
Principal payments |  |  | (7 | )
Total unrealized gains, included in other comprehensive loss |  |  | 21 |
Ending balance, June 30, 2024 |  | $ | 1,371 |
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  |  |  |  |  | (Dollars in thousands) |
|  |  |  |  |  | Fair Value Measurements at June 30, 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 |  | $ | 872 |  |  | $ | - |  |  | $ | - |  |  | $ | 872 |
|  |  |  |  |  | (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] |
|  | June 30, 2024 |  |  | Estimated Fair Value Measurements at June 30, 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 |  | $ | 83,207 |  |  | $ | 83,207 |  |  | $ | 83,207 |  |  | $ | - |  |  | $ | - |
Loans held-for-sale |  |  | 1,185 |  |  |  | 1,198 |  |  |  | - |  |  |  | 1,198 |  |  |  | - |
Loans receivable, net |  |  | 1,488,068 |  |  |  | 1,435,954 |  |  |  | - |  |  |  | - |  |  |  | 1,435,954 |
Federal Home Loan Bank stock |  |  | 6,547 |  |  |  | 6,547 |  |  |  | - |  |  |  | 6,547 |  |  |  | - |
Accrued interest receivable |  |  | 7,695 |  |  |  | 7,695 |  |  |  | - |  |  |  | 7,695 |  |  |  | - |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing deposits |  |  | 286,784 |  |  |  | 286,784 |  |  |  | 286,784 |  |  |  | - |  |  |  | - |
Interest bearing deposits |  |  | 1,469,970 |  |  |  | 1,468,431 |  |  |  | 928,805 |  |  |  | 539,626 |  |  |  | - |
Repurchase agreements |  |  | 42,973 |  |  |  | 42,816 |  |  |  | 35,537 |  |  |  | 7,279 |  |  |  | - |
Borrowed funds |  |  | 85,000 |  |  |  | 84,849 |  |  |  | - |  |  |  | 84,849 |  |  |  | - |
Accrued interest payable |  |  | 1,565 |  |  |  | 1,565 |  |  |  | - |  |  |  | 1,565 |  |  |  | - |
|  | 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 |  |  |  | - |

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- 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
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- 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
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- 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
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