XML 61 R47.htm IDEA: XBRL DOCUMENT v3.22.1

Note 21 - Fair Value and Interest Rate Risk (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

(In thousands)			December 31, 2021								December 31, 2020
	Fair Value Hierarchy		Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Financial Assets:
Cash and noninterest bearing balances due from banks	Level 1		$	3,264			$	3,264			$	3,006			$	3,006
Interest-bearing deposits due from banks	Level 1			43,781				43,781				31,630				31,630
Available-for-sale securities	Level 2			81,161				81,161				49,262				49,262
Available-for-sale securities	Level 3			13,180				13,180				-				-
Other investments	Level 2			4,450				4,450				4,450				4,450
Federal Reserve Bank stock	Level 2			2,843				2,843				2,783				2,783
Federal Home Loan Bank stock	Level 2			4,184				4,184				4,503				4,503
Loans receivable, net	Level 3			729,583				727,733				719,596				716,822
Loans held for sale	Level 2			3,129				3,506				1,217				1,343
SBA servicing assets	Level 3			584				617				316				375
Other real estate owned	Level 2			-				-				1,906				1,906
Accrued interest receivable	Level 2			5,822				5,822				6,620				6,620
Interest rate swap receivable	Level 2			738				738				1,187				1,187
Financial assets, total			$	892,719			$	891,279			$	826,476			$	823,887
Financial Liabilities:
Demand deposits	Level 2		$	226,713			$	226,713			$	158,676			$	158,676
Savings deposits	Level 2			109,744				109,744				98,635				98,635
Money market deposits	Level 2			164,518				164,518				146,389				146,389
NOW accounts	Level 2			34,741				34,741				30,529				30,529
Time deposits	Level 2			195,830				195,048				210,140				210,882
Brokered deposits	Level 1			17,016				17,003				41,287				41,643
FHLB borrowings	Level 2			90,000				93,643				90,000				97,293
Senior notes	Level 2			12,000				12,045				11,927				12,028
Subordinated debt	Level 2			9,811				9,947				9,782				10,125
Junior subordinated debt owed to unconsolidated trust	Level 2			8,119				8,119				8,110				8,110
Note payable	Level 3			791				775				994				997
Accrued interest payable	Level 2			343				343				572				572
Interest rate swap liability	Level 2			738				738				1,187				1,187
Financial liabilities, total			$	870,364			$	873,377			$	808,228			$	817,066

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

(In thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
December 31, 2021:
U. S. Government agency and mortgage-backed securities		$	-			$	66,629			$	-			$	66,629
Corporate bonds			-				3,741				13,180				16,921
Subordinated notes			-				4,626				-				4,626
SBA loan pools			-				5,603				-				5,603
Municipal bonds			-				562				-				562
Available-for-sale securities		$	-			$	81,161			$	13,180			$	94,341
Interest rate swap receivable		$	-			$	738			$	-			$	738
Interest rate swap liability		$	-			$	738			$	-			$	738
December 31, 2020:
U. S. Government agency and mortgage-backed securities		$	-			$	16,833			$	-			$	16,833
Corporate bonds			-				17,290				-				17,290
Subordinated notes			-				9,005				-				9,005
SBA loan pools			-				5,567				-				5,567
Municipal bonds			-				567				-				567
Available-for-sale securities		$	-			$	49,262			$	-			$	49,262
Interest rate swap receivable		$	-			$	1,187			$	-			$	1,187
Interest rate swap liability		$	-			$	1,187			$	-			$	1,187

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(In thousands)
		Year Ended December 31, 2021
Level 3 fair value, beginning of year		$	-
Purchases			14,000
Realized gain (loss)			-
Unrealized loss			(820	)
Transfers in and /or out of Level 3			-
Level 3 fair value, end of year		$	13,180

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

(In thousands)		Fair Value			Valuation Methodology		Unobservable Inputs		Range of Inputs
December 31, 2021:
Impaired loans, net		$	20,920		Real Estate Appraisals		Discount for appraisal type		5.8%	-	20%
SBA servicing assets			617		Discounted Cash Flows		Market discount rates		14.73%	-	14.90%
December 31, 2020:
Impaired loans, net		$	22,971		Real Estate Appraisals		Discount for appraisal type		5.8%	-	20%
Other Real Estate Owned			1,906		Real Estate Appraisals		Discount for appraisal type			5.84%
SBA servicing assets			375		Discounted Cash Flows		Market discount rates		14.73%	-	14.90%

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

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

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
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