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Note 11 - Fair Value of Financial Instruments and Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value, Inputs, Level 3 [Member]  
Notes Tables  
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
 
 
 
 
 
Valuation
 
Unobservable
 
Range
 
 
 
Fair Value
 
Techniques
 
Inputs
 
Weighted Avg
 
                       
State, County and Municipal
 
$
929
 
Discounted Cash Flow
 
Discount Rate
  N/A*  
Fair Value, by Balance Sheet Grouping [Table Text Block]
 
 
Fair Value Measurements at
 
 
 
March 31, 2016
 
 
 
Carrying
 
 
Estimated
 
 
Level
 
 
Level
 
 
Level
 
 
 
Value
 
 
Fair Value
 
 
1
 
 
2
 
 
3
 
                                         
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Short-Term Investments
 
$
48,912
 
 
$
48,912
 
 
$
48,912
 
 
$
-
 
 
$
-
 
Investment Securities Available for Sale
 
 
308,840
 
 
 
308,840
 
 
 
-
 
 
 
307,911
 
 
 
929
 
Federal Home Loan Bank Stock
 
 
2,755
 
 
 
2,755
 
 
 
2,755
 
 
 
-
 
 
 
-
 
Loans, Net
 
 
744,356
 
 
 
745,279
 
 
 
-
 
 
 
739,092
 
 
 
6,187
 
Bank-Owned Life Insurance
 
 
14,985
 
 
 
14,985
 
 
 
14,985
 
 
 
-
 
 
 
-
 
                                         
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits
 
 
1,000,043
 
 
 
1,001,576
 
 
 
609,595
 
 
 
391,981
 
 
 
-
 
Subordinated Debentures
 
 
24,229
 
 
 
24,229
 
 
 
-
 
 
 
24,229
 
 
 
-
 
Other Borrowed Money
 
 
40,000
 
 
 
41,640
 
 
 
-
 
 
 
41,640
 
 
 
-
 
 
 
Fair Value Measurements at
 
 
 
December 31, 2015
 
 
 
Carrying
 
 
Estimated
 
 
Level
 
 
Level
 
 
Level
 
 
 
Value
 
 
Fair Value
 
 
1
 
 
2
 
 
3
 
                                         
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Short-Term Investments
  $ 60,872     $ 60,872     $ 60,872     $ -     $ -  
Investment Securities Available for Sale
    296,149       296,149       -       295,219       930  
Federal Home Loan Bank Stock
    2,731       2,731       2,731       -       -  
Loans, Net
    749,675       750,412       -       741,867       8,545  
Bank-Owned Life Insurance
    14,830       14,830       14,830       -       -  
                                         
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits
    1,011,554       1,013,111       611,822       401,289       -  
Subordinated Debentures
    24,229       24,229       -       24,229       -  
Other Borrowed Money
    40,000       40,421       -       40,421       -  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
Significant
 
 
 
 
 
 
 
Active
Markets for
 
 
Significant Other
 
 
Unobservable
 
 
 
Total Fair
 
 
Identical Assets
 
 
Observable
 
 
Inputs
 
March 31, 2016
 
Value
 
 
(Level 1)
 
 
Inputs (Level 2)
 
 
(Level 3)
 
                                 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government Agencies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed
 
$
303,810
 
 
$
-
 
 
$
303,810
 
 
$
-
 
State, County and Municipal
 
 
5,030
 
 
 
-
 
 
 
4,101
 
 
 
929
 
 
 
$
308,840
 
 
$
-
 
 
$
307,911
 
 
$
929
 
                                 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired Loans
 
$
6,187
 
 
$
-
 
 
$
-
 
 
$
6,187
 
                                 
Other Real Estate
 
$
2,941
 
 
$
-
 
 
$
-
 
 
$
2,941
 
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using 
 
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
Significant
 
 
 
 
 
 
 
Active Markets for
 
 
Significant Other
 
 
Unobservable
 
 
 
Total Fair
 
 
Identical Assets
 
 
Observable
 
 
Inputs
 
December 31, 2015
 
Value
 
 
(Level 1)
 
 
Inputs (Level 2)
 
 
(Level 3)
 
                                 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government Agencies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed
  $ 291,050     $ -     $ 291,050     $ -  
State, County and Municipal
    5,099       -       4,169       930  
    $ 296,149     $ -     $ 295,219     $ 930  
                                 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired Loans
  $ 8,545     $ -     $ -     $ 8,545  
                                 
Other Real Estate
  $ 2,536     $ -     $ -     $ 2,536  
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
 
 
March 31,
 
Valuation
 
Unobservable
 
Range
 
 
 
2016
 
Techniques
 
Inputs
 
Weighted Avg
 
                         
Commercial
 
$
24
 
Sales Comparison
 
Adjustment for Differences
 
 
(31.77
)%
-
34.00%
 
 
 
 
 
 
 
 
Between the Comparable Sales
 
 
1.12%
 
 
                         
 
 
 
 
 
 
 
Management Adjustments for
 
 
0.00%
-
10.00%
 
 
 
 
 
 
 
 
Age of Appraisals and/or Current
 
 
5.00%
 
 
 
 
 
 
 
 
 
Market Conditions
 
 
 
 
 
                         
 
 
 
 
 
Income Approach
 
Capitalization Rate
 
 
11.00%
 
 
                         
Real Estate
                       
Commercial Construction
 
 
51
 
Sales Comparison
 
Adjustment for Differences
 
 
(5.00
)%
99.00%
 
 
 
 
 
 
 
 
Between the Comparable Sales
 
 
47.00
%
 
 
                         
 
 
 
 
 
 
 
Management Adjustments for
 
 
0.00%
10.00%
 
 
 
 
 
 
 
 
Age of Appraisals and/or Current
 
 
5.00%
 
 
 
 
 
 
 
 
 
Market Conditions
 
 
 
 
 
                         
Residential Real Estate
 
 
436
 
Sales Comparison
 
Adjustment for Differences
 
 
(22.00
)%
0.00%
 
 
 
 
 
 
 
 
Between the Comparable Sales
 
 
(11.00)%
 
 
                         
 
 
 
 
 
 
 
Management Adjustments for
 
 
0.00%
-
40.00%
 
 
 
 
 
 
 
 
Age of Appraisals and/or Current
 
 
20.00%
 
 
 
 
 
 
 
 
 
Market Conditions
 
 
 
 
 
                         
Commercial Real Estate
 
 
5,325
 
Sales Comparison
 
Adjustment for Differences
 
 
(31.77
)%
34.00%
 
 
 
 
 
 
 
 
Between the Comparable Sales
 
 
1.12%
 
 
                         
 
 
 
 
 
 
 
Management Adjustments for
 
 
0.00%
-
90.00%
 
 
 
 
 
 
 
 
Age of Appraisals and/or Current
 
 
45.00%
 
 
 
 
 
 
 
 
 
Market Conditions
 
 
 
 
 
                         
 
 
 
 
 
Income Approach
 
Capitalization Rate
 
 
10.33%
 
 
                         
Farmland
 
 
351
 
Sales Comparison
 
Adjustment for Differences
 
 
(27.00
)%
-
15.00%
 
 
 
 
 
 
 
 
Between the Comparable Sales
 
 
(6.00)%
 
 
                         
 
 
 
 
 
 
 
Management Adjustments for
 
 
10.00%
-
75.00%
 
 
 
 
 
 
 
 
Age of Appraisals and/or Current
 
 
42.50%
 
 
 
 
 
 
 
 
 
Market Conditions
 
 
 
 
 
                         
Other Real Estate Owned
 
 
2,941
 
Sales Comparison
 
Adjustment for Differences
 
 
(50.80
)%
142.90% 
 
 
 
 
 
 
 
 
 
Between the Comparable Sales
 
 
46.05%
 
 
                         
 
 
 
 
 
 
 
Management Adjustments for
 
 
0.62%
-
72.75%
 
 
 
 
 
 
 
 
Age of Appraisals and/or Current
 
 
29.23%
 
 
 
 
 
 
 
 
 
Market Conditions
 
 
 
 
 
                         
 
 
 
 
 
Income Approach
 
Discount Rate
 
 
12.50%
 
 
 
 
December 31,
 
Valuation
 
Unobservable
 
Range
 
 
 
2015
 
Techniques
 
Inputs
 
Weighted Avg
 
                         
Commercial
  $ 28  
Sales Comparison
 
Adjustment for Differences
  (31.77)% - 34.00%  
             
Between the Comparable Sales
    1.12%    
                         
             
Management Adjustment for
  0.00% 10.00%  
             
Age of Appraisals and/or Current
    5.00%    
             
Market Conditions
         
                         
         
Income Approach
 
Capitalization Rate
    11.00%    
                         
Real Estate
                       
Commercial Construction
    51  
Sales Comparison
 
Adjustment for Differences
  (5.00)% 99.00%  
             
Between the Comparable Sales
    47.00%    
                         
             
Management Adjustments for
  0.00% 10.00%  
             
Age of Appraisals and/or Current
    5.00%    
             
Market Conditions
         
                         
Residential Real Estate
    767  
Sales Comparison
 
Adjustment for Differences
  (22.00)%  10.80%  
             
Between the Comparable Sales
    5.60%    
                         
             
Management Adjustments for
  0.00%  -  25.00%  
             
Age of Appraisals and/or Current
    12.50%    
             
Market Conditions
         
                         
Commercial Real Estate
    7,348  
Sales Comparison
 
Adjustment for differences
  (31.77)% 34.00%  
             
Between the comparable Sales
    1.12%    
                         
             
Management Adjustments for
  0.00% - 10.00%  
             
Age of Appraisals and/or Current
    5.00%    
             
Market Conditions
         
                         
         
Income Approach
 
Capitalization Rate
    10.25%    
                         
Farmland
    351  
Sales Comparison
 
Adjustment for Differences
  (27.00)% 15.00%  
             
Between the Comparable Sales
    (6.00)%    
                         
             
Management Adjustments for
  10.00%  -  75.00%  
             
Age of Appraisals and/or Current
    42.50%    
             
Market Conditions
         
                         
Other Real Estate Owned
    2,536  
Sales Comparison
 
Adjustment for Differences
  (50.80)% 142.90%  
             
Between the Comparable Sales
    46.05%    
                         
             
Management Adjustment for
  15.53% 72.75%  
             
Age of Appraisals and/or Current
    43.37%    
             
Market Conditions
         
                         
         
Income Approach
 
Discount Rate
    12.50%    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
 
 
Available for Sale Securities
 
 
 
March 31, 2016
 
 
December 31, 2015
 
                 
Balance, Beginning
 
$
930
 
  $ 948  
Transfers out of Level 3
 
 
-
 
    -  
Loss on OTTI Impairment Included
in Noninterest Income
 
 
-
 
    -  
Unrealized Gains included in Other
Comprehensive Income (Loss)
 
 
(1
)
    (18 )
                 
                 
Balance, Ending
 
$
929
 
  $ 930