Note 9 - Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2023

Notes Tables

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

			Fair Value Measurements at September 30, 2023, Using:
	Carrying Value		Level 1		Level 2		Level 3		Total Fair Value
Financial assets:
Cash and cash equivalents	$	90,567	$	90,567	$	-	$	-	$	90,567
Investment securities		438,265		-		438,265		-		438,265
Loans held for sale		-		-		-		-		-
Loans, net		948,719		-		-		906,961		906,961
FHLB stock		6,234		-		-		-		N/A
FRB Stock		1,370		-		-		-		N/A
Accrued interest receivable		7,958		90		2,570		5,298		7,958
Financial liabilities:
Deposits		1,402,486		1,312,179		90,814		-		1,402,993
Repurchase agreements		16,145		-		16,145		-		16,145
Note Payable		10,000		-		-		8,682		8,682
Accrued interest payable		782		22		687		73		782

			Fair Value Measurements at December 31, 2022 Using:
	Carrying Value		Level 1		Level 2		Level 3		Total Fair Value
Financial assets:
Cash and cash equivalents	$	183,426	$	183,426	$	-	$	-	$	183,426
Investment securities		444,703		-		444,703		-		444,703
Interest rate swaps		2,002		-		2,002		-		2,002
Loans held for sale		2,301		-		2,301		-		2,301
Loans, net		903,968		-		-		884,814		884,814
FHLB stock		4,964		-		-		-		N/A
FRB Stock		1,364		-		-		-		N/A
Accrued interest receivable		7,433		63		2,309		5,061		7,433
Financial liabilities:
Deposits		1,457,809		1,408,623		49,627		-		1,458,250
Repurchase agreements		18,624		-		18,624		-		18,624
Junior subordinated deferrable interest debentures		10,310		-		-		7,770		7,770
Accrued interest payable		81		16		40		25		81

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

			Fair Value Measurements at
			September 30, 2023 Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Total Fair Value		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Treasury securities	$	9,796	$	-	$	9,796	$	-
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential		212,178		-		212,178		-
U.S. Government agencies collateralized by mortgage obligations-commercial		101,288		-		101,288		-
Obligations of states and political subdivisions		115,003		-		115,003		-
	$	438,265	$	-	$	438,265	$	-

			Fair Value Measurements at
			December 31, 2022 Using
			Quoted
			Prices in
			Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Total Fair Value		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Treasury securities	$	9,707	$	-	$	9,707	$	-
U.S. Government-sponsored agencies collateralized by mortgage obligations - residential		214,408		-		214,408		-
U.S. Government-agencies collateralized by mortgage obligations - commercial		99,581		-		99,581		-
Obligations of states and political subdivisions		121,007		-		121,007		-
Interest rate swaps		2,002		-		2,002		-
	$	446,705	$	-	$	446,705	$	-

Fair Value Measurements, Nonrecurring [Table Text Block]

			Fair Value Measurements at
			September 30, 2023 Using
			Quoted
			Prices in						Total
			Active		Significant				Losses
			Markets for		Other		Significant		Nine Months
			Identical		Observable		Unobservable		Ended
			Assets		Inputs		Inputs		September 30,
	Total Fair Value		(Level 1)		(Level 2)		(Level 3)		2023
Assets:
Impaired loans
Commercial		29		-		-		29		28
Other Real Estate:
RE – Residential		440	$	-	$	-	$	440	$	-

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

	Fair Value		Fair Value		Valuation		Range (Weighted Average)					Range (Weighted Average)
Description	9/30/2023		12/31/2022		Technique	Significant Unobservable Input	9/30/2023					12/31/2022
Impaired Loans:
Commercial	$	29		-	Third Party appraisals	Management Adjustments to Reflect Current Conditions and Selling Costs		49	%	(47	%)
Other Real Estate:
RE – Residential	$	440	$	-	Third Party appraisals	Management Adjustments to Reflect Current Conditions and Selling Costs		11% -38%		(18	%)