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Note 8 - Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

(In thousands)		Notional Amount				Maturity (Years)				Fixed Rate				Variable Rate		Fair Value
September 30, 2022
Classified in Other Assets:
3rd party interest rate swap		$	4,763				6.6				5.25	%		1 Mo. LIBOR + 1.96%		$	124
3rd party interest rate swap			1,372				6.8				4.38	%		1 Mo. LIBOR + 2.00%			105
Classified in Other Liabilities:
Customer interest rate swap		$	4,763				6.6				5.25	%		1 Mo. LIBOR + 1.96%		$	(124	)
Customer interest rate swap			1,372				6.8				4.38	%		1 Mo. LIBOR + 2.00%			(105	)
December 31, 2021
Classified in Other Assets:
Customer interest rate swap		$	4,843				7.3				5.25	%		1 Mo. LIBOR + 1.96%		$	638
Customer interest rate swap			1,398				7.5				4.38	%		1 Mo. LIBOR + 2.00%			100
Classified in Other Liabilities:
3rd party interest rate swap		$	4,843				7.3				5.25	%		1 Mo. LIBOR + 1.96%		$	(638	)
3rd party interest rate swap			1,398				7.5				4.38	%		1 Mo. LIBOR + 2.00%			(100	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

		Three Months Ended				Nine Months Ended
(In thousands)		September 30, 2021				September 30, 2021
Interest rate swap designated as cash flow hedge:
Unrealized gain recognized in accumulated other comprehensive income before reclassifications		$	(104	)		$	149
Amounts reclassified from accumulated other comprehensive income			(64	)			(149	)
Income tax effect on items recognized in accumulated other comprehensive income			44				-
Other comprehensive income		$	(124	)		$	-

X

- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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