Note 3 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

			Fair Value Measurements at December 31, 2021 Using:
									Total Fair
	Carrying Value		Level 1		Level 2		Level 3		Value
Financial assets:
Cash and cash equivalents	$	380,584,000	$	380,584,000					$	380,584,000
Investment securities		305,914,000			$	305,914,000				305,914,000
Interest rate swaps		607,000				607,000				607,000
Loan, held for sale		31,277,000				33,284,000				33,284,000
Loans, net		829,385,000					$	844,764,000		844,764,000
FHLB stock		4,450,000								N/A
FRB Stock		1,358,000								N/A
Accrued interest receivable		5,800,000		3,000		1,082,000		4,715,000		5,800,000
Financial liabilities:
Deposits		1,438,999,000		1,374,637,000		65,398,000				1,440,035,000
Repurchase agreements		17,283,000				17,283,000				17,283,000
Junior subordinated deferrable interest debentures		10,310,000						7,342,000		7,342,000
Accrued interest payable		78,000		9,000		56,000		13,000		78,000

			Fair Value Measurements at December 31, 2020 Using:
									Total Fair
	Carrying Value		Level 1		Level 2		Level 3		Value
Financial assets:
Cash and cash equivalents	$	184,909,000	$	184,909,000					$	184,909,000
Investment securities		179,613,000			$	179,613,000				179,613,000
Interest rate swaps		141,000				141,000				141,000
Loan, held for sale		693,000				693,000				693,000
Loans, net		700,102,000					$	716,375,000		716,375,000
FHLB stock		3,667,000								N/A
FRB Stock		651,000								N/A
Accrued interest receivable		5,402,000		10,000		633,000		4,759,000		5,402,000
Financial liabilities:
Deposits		973,974,000		933,658,000		41,891,000				975,549,000
Repurchase agreements		13,878,000				13,878,000				13,878,000
FHLB advances		5,000,000				4,996,000				4,996,000
Junior subordinated deferrable interest debentures		10,310,000						7,340,000		7,340,000
Accrued interest payable		69,000		9,000		44,000		16,000		69,000

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

			Fair Value Measurements at
			December 31, 2021 Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Total Fair		Assets		Inputs		Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Government-sponsored agencies collateralized by mortgage obligations-residential	$	151,034,000	$	-	$	151,034,000	$	-
U.S. Government agencies collateralized by mortgage obligations-commercial		57,225,000		-		57,225,000		-
Obligations of states and political subdivisions		97,655,000		-		97,655,000		-
	$	305,914,000	$	-	$	305,914,000	$	-

			Fair Value Measurements at
			December 31, 2020 Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Total Fair		Assets		Inputs		Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Government-sponsored agencies collateralized by mortgage obligations-residential	$	110,674,000	$	-	$	110,674,000	$	-
U.S. Government agencies collateralized by mortgage obligations-commercial		10,472,000		-		10,472,000		-
Obligations of states and political subdivisions		58,467,000		-		58,467,000		-
	$	179,613,000	$	-	$	179,613,000	$	-

Fair Value Measurements, Nonrecurring [Table Text Block]

			Fair Value Measurements at December 31, 2021 Using:
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Total		Assets		Inputs		Inputs		Total
	Fair Value		(Level 1)		(Level 2)		(Level 3)		Losses
Assets:
Other real estate:
Real estate – commercial	$	487,000		-		-	$	487,000		(37,000	)

			Fair Value Measurements at December 31, 2020 Using:
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	Total		Assets		Inputs		Inputs		Total
	Fair Value		(Level 1)		(Level 2)		(Level 3)		Losses
Assets:
Impaired loans:
Real estate - commercial	$	11,000	$	-	$	-	$	11,000	$	(143,000	)
Total impaired loans		11,000		-		-		11,000		(143,000	)
Other real estate:
Real estate – commercial	$	347,000		-		-	$	347,000		-
Real estate – residential		56,000		-		-		56,000		-
Total other real estate		403,000		-		-		403,000	$	-
Total	$	414,000	$	-	$	-	$	414,000	$	(143,000	)

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

							Range					Range
	Fair Value		Fair Value		Valuation		(Weighted Average)					(Weighted Average)
Description	12/31/2021		12/31/2020		Technique	Significant Unobservable Input	12/31/2021					12/31/2020
Impaired Loans:
RE – Commercial	$	-	$	11	Third Party appraisals	Management Adjustments to Reflect Current Conditions and Selling Costs		0	%	(0	%)		28%-80%		(61	%)
Other Real Estate:
RE – Residential	$	-	$	56	Third Party appraisals	Management Adjustments to Reflect Current Conditions and Selling Costs		0	%	(0	%)		47	%	(47	%)
RE – Commercial	$	487	$	347	Third Party appraisals	Management Adjustments to Reflect Current Conditions and Selling Costs		17% - 51%		(37	%)		16% - 17%		(16	%)