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Note 16 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

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

		Fair Value Measurements as of March 3 1 , 201 9 Using
		Totals At March 3 1 , 2019				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Investment securities, available-for-sale
Mortgage-backed securities:
Residential		$	70,759			$	—			$	70,759			$	—
Commercial			52,786				—				52,786				—
Obligations of states and political subdivisions			5,608				—				5,608				—
U.S. Treasury securities			79				—				79				—

		Fair Value Measurements as of December 31, 2018 Using
		Totals At December 31, 2018				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Investment securities, available-for-sale
Mortgage-backed securities:
Residential		$	72,455			$	—			$	72,455			$	—
Commercial			54,289				—				54,289				—
Obligations of states and political subdivisions			5,664				—				5,664				—
U.S. Treasury securities			79				—				79				—

Fair Value Assets Measured On Nonrecurring Basis [Table Text Block]

		Fair Value Measurements as of March 3 1 , 2019 Using
		Totals At March 3 1 , 2019				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Impaired loans		$	352			$	—			$	—			$	352
OREO			1,222				—				—				1,222
Assets held-for-sale			198				—				—				198

		Fair Value Measurements as of December 31, 201 8 Using
		Totals At December 31, 201 8				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Impaired loans		$	665			$	—			$	—			$	665
OREO			1,505				—				—				1,505
Assets held-for-sale			198				—				—				198

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

		Level 3 Significant Unobservable Input Assumptions
		Fair Value March 3 1 , 2019				Valuation Technique		Unobservable Input		Quantitative Range of Unobservable Inputs (Weighted Average)
		(Dollars in Thousands)
Non-recurring fair value measurements:
Impaired loans		$	352			Multiple data points, including discount to appraised value of collateral based on recent market activity		Appraisal comparability adjustment (discount)		9%	-	10%	(9.5%	)
OREO		$	1,222			Discount to appraised value of property based on recent market activity for sales of similar properties		Appraisal comparability adjustment (discount)		9%	-	10%	(9.5%	)
Assets held-for-sale		$	198			Discount to appraised value of property based on recent market activity for sales of similar properties		Appraisal comparability adjustment (discount)		9%	-	10%	(9.5%	)

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

		March 3 1 , 2019
		Carrying Amount				Estimated Fair Value				Level 1				Level 2				Level 3
		(Dollars in Thousands)
Assets:
Cash and cash equivalents		$	60,046			$	60,046			$	60,046			$	—			$	—
Investment securities available-for-sale			127,185				127,185				—				127,185				—
Investment securities held-to-maturity			20,840				20,467				—				20,467				—
Federal funds sold			15,080				15,080								15,080
Federal Home Loan Bank stock			713				713				—				—				713
Loans, net of allowance for loan and lease losses			502,760				512,378				—				—				512,378
Liabilities:
Deposits			703,361				702,185				—				702,185				—

		December 31, 2018
		Carrying Amount				Estimated Fair Value				Level 1				Level 2				Level 3
		(Dollars in Thousands)
Assets:
Cash and cash equivalents		$	49,599			$	49,599			$	49,599			$	—			$	—
Investment securities available-for-sale			132,487				132,487				—				132,487				—
Investment securities held-to-maturity			21,462				20,852				—				20,852				—
Federal funds sold			8,354				8,354				—				8,354				—
Federal Home Loan Bank stock			703				703				—				—				703
Loans, net of allowance for loan and lease losses			514,867				516,420				—				—				516,420
Liabilities:
Deposits			704,725				702,832				—				702,832				—
Short-term borrowings			527				527				—				527				—

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

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-Topic 820
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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

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