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Note 8 - Fair Values of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

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

						*Quoted Prices in*				*Significant Other*				*Significant*
						*Active Markets for*				*Observable*				*Unobservable*
		*Estimated*				*Identical Assets*				*Inputs*				*Inputs*
		*Fair Value*				*(Level 1)*				*(Level 2)*				*(Level 3)*
June 30, 2022
Assets:
Obligations of the U.S. Treasury and U.S. government agencies and corporations		$	27,734			$	—			$	27,734			$	—
Obligations of state and political subdivisions			17,120				—				10,881				6,239
Corporate bonds			28,767				—				28,281				486
Residential mortgage-backed securities			270,254				—				270,254				—
Commercial mortgage-backed securities			77,410				—				77,410				—
Equity securities			2,160				2,160				—				—
Total assets		$	423,445			$	2,160			$	414,560			$	6,725

December 31, 2021
Assets:
Obligations of the U.S. Treasury and U.S. government agencies and corporations		$	21,268			$	—			$	21,268			$	—
Obligations of state and political subdivisions			32,585				—				10,471				22,114
Corporate bonds			27,667				—				27,179				488
Residential mortgage-backed securities			199,904				—				199,904				—
Commercial mortgage-backed securities			74,085				—				74,085				—
Equity securities			1,810				1,810				—				—
Derivative financial instruments			2,599				—				2,599				—
Total assets		$	359,918			$	1,810			$	335,506			$	22,602

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

		*Obligations of State and*
		*Political Subdivisions*				*Corporate Bonds*
Balance at December 31, 2021		$	22,114			$	488
Realized gains (losses) included in earnings			—				—
Unrealized losses included in other comprehensive (loss) income			(1,200	)			(2	)
Purchases			—				—
Sales			—				—
Maturities, prepayments, and calls			(4,840	)			—
Transfers into level 3			—				—
Transfers out of level 3			(9,835	)			—
Balance at June 30, 2022		$	6,239			$	486

		*Obligations of State and*
		*Political Subdivisions*
Balance at December 31, 2020		$	18,516
Realized gains (losses) included in earnings			—
Unrealized losses included in other comprehensive income (loss)			(632	)
Purchases			—
Sales			—
Maturities, prepayments, and calls			—
Transfers into level 3			—
Transfers out of level 3			—
Balance at June 30, 2021		$	17,884

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

		*Estimated*
		*Fair Value*				*Valuation Technique*		*Unobservable Inputs*		*Range of Discounts*
June 30, 2022
Obligations of state and political subdivisions		$	6,239			Option-adjusted discounted cash flow model; present value of expected future cash flow model		Bond appraisal adjustment⁽¹⁾		0% - 10%
Corporate bonds			486			Option-adjusted discounted cash flow model; present value of expected future cash flow model		Bond appraisal adjustment⁽¹⁾		3%

December 31, 2021
Obligations of state and political subdivisions		$	22,114			Option-adjusted discounted cash flow model; present value of expected future cash flow model		Bond appraisal adjustment⁽¹⁾		0% - 2%
Corporate bonds			488			Option-adjusted discounted cash flow model; present value of expected future cash flow model		Bond appraisal adjustment⁽¹⁾		2%

Estimated

Weighted Average

Fair Value

Valuation Technique

Unobservable Inputs

Range of Discounts

Discount

June 30, 2022

Impaired loans

$

2,324

Discounted cash flows; underlying collateral value

Collateral discounts and estimated costs to sell

31% - 100%

34%

December 31, 2021

Impaired loans

$

12,703

Discounted cash flows; underlying collateral value

Collateral discounts and estimated costs to sell

10% - 100%

60%

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

		*June 30, 2022*
		*Carrying*				*Estimated*
		*Amount*				*Fair Value*				*Level 1*				*Level 2*				*Level 3*
Financial assets:
Cash and due from banks		$	50,450			$	50,450			$	50,450			$	—			$	—
Federal funds sold			500				500				500				—				—
Investment securities			430,986				430,865				—				417,468				13,397
Equity securities			22,639				22,639				2,160				20,479				—
Loans, net of allowance			1,894,441				1,889,177				—				—				1,889,177

Financial liabilities:
Deposits, noninterest-bearing		$	615,779			$	615,779			$	—			$	615,779			$	—
Deposits, interest-bearing			1,446,891				1,307,327				—				—				1,307,327
FHLB short-term advances and repurchase agreements			161,447				161,447				—				161,447				—
FHLB long-term advances			78,500				77,763				—				—				77,763
Junior subordinated debt			8,452				8,452				—				—				8,452
Subordinated debt			45,000				41,282				—				41,282				—

		*December 31, 2021*
		*Carrying*				*Estimated*
		*Amount*				*Fair Value*				*Level 1*				*Level 2*				*Level 3*
Financial assets:
Cash and due from banks		$	96,541			$	96,541			$	96,541			$	—			$	—
Federal funds sold			500				500				500				—				—
Investment securities			365,764				366,236				—				336,357				29,879
Equity securities			16,803				16,803				1,810				14,993				—
Loans, net of allowance			1,851,153				1,866,657				—				—				1,866,657
Loans held for sale			620				625				—				—				625
Derivative financial instruments			2,599				2,599				—				2,599				—

Financial liabilities:
Deposits, noninterest-bearing		$	585,465			$	585,465			$	—			$	585,465			$	—
Deposits, interest-bearing			1,534,801				1,538,052				—				—				1,538,052
Repurchase agreements			5,783				5,783				—				5,783				—
FHLB long-term advances			78,500				77,229				—				—				77,229
Junior subordinated debt			8,384				8,384				—				—				8,384
Subordinated debt			43,600				38,545				—				38,545				—