Note 13 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Notes Tables

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

	Fair Value Measurements at June 30, 2023
			Quoted Prices in Active Markets		Significant Other Observable		Significant Other Unobservable
			for Identical Assets		Inputs		Inputs
(in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Financial assets:
Available-for-sale debt securities:
U.S. treasuries	$	32,302	$	-	$	32,302	$	-
Obligations of state and political subdivisions		208,735		-		208,735		-
U.S. government/government-sponsored agencies:
Collateralized mortgage obligations - residential		77,451		-		77,451		-
Collateralized mortgage obligations - commercial		3,313		-		3,313		-
Mortgage-backed securities		17,963		-		17,963		-
Private collateralized mortgage obligations		68,241		-		68,241		-
Corporate debt securities		30,385		-		23,786		6,599
Asset-backed securities		13,836		-		13,836		-
Negotiable certificates of deposit		651		-		651		-
Subtotal available-for-sale debt securities		452,877		-		446,278		6,599
Equity securities, at fair value		6,337		6,337		-		-
Derivative assets		2,192		-		2,192		-
Total financial assets	$	461,406	$	6,337	$	448,470	$	6,599
Financial liabilities:
Derivative liabilities	$	1,417	$	-	$	1,417	$	-
Total financial liabilities	$	1,417	$	-	$	1,417	$	-

	Fair Value Measurements at December 31, 2022
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Other Unobservable Inputs
(in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Financial assets:
Available-for-sale debt securities:
U.S. treasuries	$	32,134	$	-	$	32,134	$	-
Obligations of state and political subdivisions		220,782		-		220,782		-
U.S. government/government-sponsored agencies:
Collateralized mortgage obligations - residential		80,407		-		80,407		-
Collateralized mortgage obligations - commercial		3,329		-		3,329		-
Mortgage-backed securities		20,663		-		20,663		-
Private collateralized mortgage obligations		72,507		-		72,507		-
Corporate debt securities		30,672		-		22,736		7,936
Asset-backed securities		14,941		-		14,941		-
Negotiable certificates of deposit		656		-		656		-
Subtotal available-for-sale debt securities		476,091		-		468,155		7,936
Equity securities, at fair value		7,717		7,717		-		-
Derivative assets		2,104		-		2,104
Total financial assets	$	485,912	$	7,717	$	470,259	$	7,936
Financial liabilities:
Derivative liabilities	$	931	$	-	$	931	$	-
Total financial liabilities	$	931	$	-	$	931	$	-

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

Fair Value Measurements
Using Significant Unobservable Inputs (Level 3)
	Corporate Debt Securities						Corporate Debt Securities
	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(in thousands)	2023			2022			2023			2022
Balance, beginning of period	$	8,012		$	11,265		$	7,936		$	12,345
Additions		-			-			-			-
Redemptions		-			(2,066	)		-			(2,066	)
Transfer to Level 2		(853	)		-			(853	)		(756	)
Sales		-			-			-			-
Total gains (losses) (realized/unrealized):
Included in earnings		-			-			-			-
Included in other comprehensive loss		(560	)		(1,169	)		(484	)		(1,493	)
Balance at June 30,	$	6,599		$	8,030		$	6,599		$	8,030

Fair Value Measurements, Nonrecurring [Table Text Block]

	June 30, 2023
	Fair Value Measurement						Quantitative Information
	Recorded		Valuation		Fair		Valuation	Unobservable	Value/
(in thousands)	Investment		Allowance		Value		Technique	Inputs	Range
Individually evaluated loans - collateral dependent	$	2,743	$	-	$	2,743	Appraisal of collateral	Selling costs		10.0	%
Individually evaluated loans - other		664		-		664	Discounted cash flows	Discount rate		3.13% - 9.50%

	December 31, 2022
	Fair Value Measurement						Quantitative Information
	Recorded		Valuation		Fair		Valuation	Unobservable	Value/
(in thousands)	Investment		Allowance		Value		Technique	Inputs	Range
Individually evaluated loans - collateral dependent	$	1,902	$	8	$	1,894	Appraisal of collateral	Selling costs		10.0	%
Individually evaluated loans - other		5,698		26		5,672	Discounted cash flows	Discount rate		3.00% - 10.25%

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

	Fair Value	June 30, 2023				December 31, 2022
(in thousands)	Measurement	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:
Cash and cash equivalents	Level 1	$	105,000	$	105,000	$	41,916	$	41,916
Available-for-sale debt securities	See previous table		452,877		452,877		476,091		476,091
Equity securities	Level 1		6,337		6,337		7,717		7,717
Restricted stock	Level 2		9,325		9,325		8,545		8,545
Loans held for sale	Level 2		-		-		60		60
Loans and leases, net	Level 3		1,187,722		1,136,605		1,110,124		1,079,266
Accrued interest receivable	Level 2		6,329		6,329		5,957		5,957
Servicing rights	Level 3		211		610		254		621
Derivative assets	Level 2		2,049		2,192		1,946		2,104
Financial liabilities:
Deposits	Level 2		1,476,064		1,470,879		1,420,647		1,416,272
Borrowed funds	Level 2		242,022		241,655		182,360		182,108
Accrued interest payable	Level 2		1,089		1,089		171		171
Derivative liabilities	Level 2		1,433		1,417		921		931