Note 6 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

			Fair Value Measurements at September 30, 2021 Using
Description	Balance as of September 30, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. Government agencies and corporations	$	220,191	$	-	$	220,191	$	-
States and political subdivisions		199,307		-		199,307		-
Mortgage-backed securities		218,752		-		218,752		-
Corporate debt securities		3,236		-		3,236		-
Total securities available for sale	$	641,486	$	-	$	641,486	$	-

			Fair Value Measurements at December 31, 2020 Using
Description	Balance as of December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. Government agencies and corporations	$	91,163	$	-	$	91,163	$	-
States and political subdivisions		203,961		-		203,961		-
Mortgage-backed securities		249,175		-		249,175		-
Corporate debt securities		2,443		-		2,443		-
Total securities available for sale	$	546,742	$	-	$	546,742	$	-

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

				Fair Value Measurements at September 30, 2021 Using
Description	Balance as of September 30, 2021			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Interest rate loan contracts	$	(4	)	$	-	$	-	$	(4	)
Forward contracts	$	3		$	-	$	-	$	3

				Fair Value Measurements at December 31, 2020 Using
Description	Balance as of December 31, 2020			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Interest rate loan contracts	$	1		$	-	$	-	$	1
Forward contracts	$	(11	)	$	-	$	-	$	(11	)

Schedule of Derivative Instruments [Table Text Block]

September 30, 2021	Valuation Technique	Unobservable Input	Range (Weighted Average)
Interest rate loan contracts	Market approach	Pull-through rate			85.00%(2)
Forward contracts	Market approach	Pull-through rate			85.00%(2)
Interest rate loan contracts	Market approach	Current reference price		100.37%	-	101.13%	(100.73%)(1)
Forward contracts	Market approach	Current reference price		100.37%	-	102.67%	(101.21%)(1)

December 31, 2020	Valuation Technique	Unobservable Input	Range (Weighted Average)
Interest rate loan contracts	Market approach	Pull-through rate			87.02%(2)
Forward contracts	Market approach	Pull-through rate			87.02%(2)
Interest rate loan contracts	Market approach	Current reference price		101.91%	-	103.02%	(102.55%)(1)
Forward contracts	Market approach	Current reference price		101.91%	-	103.19%	(102.67%)(1)

Fair Value Measurements, Nonrecurring [Table Text Block]

				Carrying Value
Date	Description	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Assets:
December 31, 2020	Impaired loans net of valuation allowance		970		-		-		970

				Carrying Value
Date	Description	Balance		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Assets:
September 30, 2021	OREO, net of valuation allowance	$	957	$	-	$	-	$	957
December 31, 2020	OREO, net of valuation allowance		1,553		-		-		1,553

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

Impaired Loans	Valuation Technique	Unobservable Input	Range (Weighted Average(1))
December 31, 2020	Present value of cash flows	Discount rate		5.50%	–	6.50%	(5.78%)

September 30, 2021	Valuation Technique	Unobservable Input	Range (Weighted Average(1))
OREO	Discounted appraised value	Selling cost		6.20%(3)

December 31, 2020	Valuation Technique	Unobservable Input	Range (Weighted Average(1))
OREO	Discounted appraised value	Selling cost		4.00%	–	9.23%	(4.54%)(2)
OREO	Discounted appraised value	Discount for lack of marketability and age of appraisal		0.00%	–	7.66%	(0.62%)(1)

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

	September 30, 2021
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	11,728	$	11,728	$	-	$	-
Interest-bearing deposits		118,863		118,863		-		-
Securities		641,486		-		641,486		-
Restricted securities		845		-		845		-
Loans held for sale		235		-		235		-
Loans, net		789,796		-		-		777,049
Accrued interest receivable		5,161		-		5,161		-
Bank-owned life insurance		42,108		-		42,108		-
Forward contracts		3		-		-		3
Financial Liabilities:
Deposits	$	1,432,734	$	-	$	1,350,279	$	82,626
Accrued interest payable		46		-		46		-
Interest rate loan contracts		4		-		-		4

	December 31, 2020
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3
Financial Assets:
Cash and due from banks	$	13,147	$	13,147	$	-	$	-
Interest-bearing deposits		120,725		120,725		-		-
Securities		546,742		-		546,742		-
Restricted securities		1,279		-		1,279		-
Loans held for sale		866		-		866		-
Loans, net		760,318		-		-		752,624
Accrued interest receivable		5,028		-		5,028		-
Bank-owned life insurance		36,444		-		36,444		-
Interest rate loan contracts		1		-		-		1
Financial Liabilities:
Deposits	$	1,297,143	$	-	$	1,207,561	$	89,681
Accrued interest payable		56		-		56		-
Forward contracts		11		-		-		11