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Note 2 - Investment Securities | 3 Months Ended
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Mar. 31, 2026
Notes to Financial Statements |
Investment in Debt and Equity Securities and Other Trading Assets [Text Block] | NOTE 2. INVESTMENT SECURITIES The amortized cost and fair values of securities, together with unrealized gains and losses, were as follows:
|  | March 31, 2026 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  |  |  |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | ACL |  |  | Value |
|  | (In Thousands) |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 4,023 |  |  | $ | 61 |  |  | $ | (116 | ) |  | $ | - |  |  | $ | 3,968 |
U.S. treasury obligations |  |  | 47,675 |  |  |  | - |  |  |  | (3,749 | ) |  |  | - |  |  |  | 43,926 |
Municipal obligations |  |  | 126,641 |  |  |  | 1 |  |  |  | (10,826 | ) |  |  | - |  |  |  | 115,816 |
Corporate obligations |  |  | 2,000 |  |  |  | - |  |  |  | (30 | ) |  |  | - |  |  |  | 1,970 |
Mortgage-backed securities |  |  | 26,684 |  |  |  | 157 |  |  |  | (1,064 | ) |  |  | - |  |  |  | 25,777 |
Collateralized mortgage obligations |  |  | 81,569 |  |  |  | 37 |  |  |  | (4,707 | ) |  |  | - |  |  |  | 76,899 |
Asset-backed securities |  |  | 6,487 |  |  |  | 45 |  |  |  | (1 | ) |  |  | - |  |  |  | 6,531 |
Total |  | $ | 295,079 |  |  | $ | 301 |  |  | $ | (20,493 | ) |  | $ | - |  |  | $ | 274,887 |
|  | December 31, 2025 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  |  |  |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | ACL |  |  | Value |
|  | (In Thousands) |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency obligations |  | $ | 4,179 |  |  | $ | 62 |  |  | $ | (86 | ) |  | $ | - |  |  | $ | 4,155 |
U.S. treasury obligations |  |  | 47,665 |  |  |  | - |  |  |  | (3,357 | ) |  |  | - |  |  |  | 44,308 |
Municipal obligations |  |  | 127,469 |  |  |  | 53 |  |  |  | (9,198 | ) |  |  | - |  |  |  | 118,324 |
Corporate obligations |  |  | 2,000 |  |  |  | - |  |  |  | (29 | ) |  |  | - |  |  |  | 1,971 |
Mortgage-backed securities |  |  | 27,222 |  |  |  | 180 |  |  |  | (908 | ) |  |  | - |  |  |  | 26,494 |
Collateralized mortgage obligations |  |  | 83,907 |  |  |  | 49 |  |  |  | (4,295 | ) |  |  | - |  |  |  | 79,661 |
Asset-backed securities |  |  | 6,720 |  |  |  | 60 |  |  |  | (1 | ) |  |  | - |  |  |  | 6,779 |
Total |  | $ | 299,162 |  |  | $ | 404 |  |  | $ | (17,874 | ) |  | $ | - |  |  | $ | 281,692 |
There was no sales activity for available-for-sale securities during the three months ended March 31, 2026 or 2025. The amortized cost and fair value of securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | March 31, 2026 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
|  | (In Thousands) |
Due in one year or less |  | $ | 1,186 |  |  | $ | 1,184 |
Due from one to five years |  |  | 52,910 |  |  |  | 49,717 |
Due from five to ten years |  |  | 68,858 |  |  |  | 61,270 |
Due after ten years |  |  | 63,872 |  |  |  | 60,040 |
|  |  | 186,826 |  |  |  | 172,211 |
Mortgage-backed securities |  |  | 26,684 |  |  |  | 25,777 |
Collateralized mortgage obligations |  |  | 81,569 |  |  |  | 76,899 |
Total |  | $ | 295,079 |  |  | $ | 274,887 |
As of March 31, 2026 and December 31, 2025, securities with a fair value of $19,694,000 and $19,976,000, respectively, were pledged to secure public deposits and for other purposes required or permitted by law. The Company’s investment securities that have been in a continuous unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve or more months were as follows:
|  | March 31, 2026 |
|  | Less than 12 Months |  |  | 12 Months or Longer |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  | (In Thousands) |
U.S. government and agency obligations |  | $ | - |  |  | $ | - |  |  | $ | 1,811 |  |  | $ | (116 | )
U.S. treasury obligations |  |  | - |  |  |  | - |  |  |  | 43,926 |  |  |  | (3,749 | )
Municipal obligations |  |  | 17,226 |  |  |  | (541 | ) |  |  | 97,723 |  |  |  | (10,285 | )
Corporate obligations |  |  | - |  |  |  | - |  |  |  | 1,970 |  |  |  | (30 | )
Mortgage-backed securities and collateralized mortgage obligations |  |  | 11,492 |  |  |  | (97 | ) |  |  | 70,783 |  |  |  | (5,674 | )
Asset-backed securities |  |  | 1,356 |  |  |  | - |  |  |  | 147 |  |  |  | (1 | )
Total |  | $ | 30,074 |  |  | $ | (638 | ) |  | $ | 216,360 |  |  | $ | (19,855 | )
|  | December 31, 2025 |
|  | Less than 12 months |  |  | 12 months or Longer |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  | (In Thousands) |
U.S. government and agency obligations |  | $ | - |  |  | $ | - |  |  | $ | 1,848 |  |  | $ | (86 | )
U.S. treasury obligations |  |  | - |  |  |  | - |  |  |  | 44,308 |  |  |  | (3,357 | )
Municipal obligations |  |  | 4,250 |  |  |  | (101 | ) |  |  | 107,365 |  |  |  | (9,097 | )
Corporate obligations |  |  | - |  |  |  | - |  |  |  | 1,971 |  |  |  | (29 | )
Mortgage-backed securities and collateralized mortgage obligations |  |  | 5,961 |  |  |  | (42 | ) |  |  | 73,924 |  |  |  | (5,161 | )
Asset-backed securities |  |  | - |  |  |  | - |  |  |  | 164 |  |  |  | (1 | )
Total |  | $ | 10,211 |  |  | $ | (143 | ) |  | $ | 229,580 |  |  | $ | (17,731 | )
As of March 31, 2026 and December 31, 2025, 252 and 241 securities, respectively, were in unrealized loss positions. Based on analysis of available-for-sale debt securities with unrealized losses as of March 31, 2026, the Company determined the decline in value was unrelated to credit losses and was primarily caused by changes in interest rates and market spreads subsequent to the initial purchase of the securities. Management does not intend to sell and the Company is not likely to be required to sell these securities prior to maturity. As a result, no ACL was recorded on available-for-sale securities at March 31, 2026 and December 31, 2025. As part of this determination, consideration was given to the extent to which fair value was less than amortized cost, rating downgrades by a rating agency and other factors.

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