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Note 12 - Fair Value (Tables)
 6 Months Ended
Jun. 30, 2024
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
      

(Dollars in thousands)

 
      

Fair Value Measurements at June 30, 2024 Using

 

(Dollars in thousands)

 

Estimated
Fair
Value

  

Quoted Prices in

Active Markets for

Identical Assets
(Level 1)

  

Significant Other

Observable Inputs
(Level 2)

  

Significant

Unobservable

Inputs
(Level 3)

 

Assets:

                

Interest rate swap contracts

 $5,696  $-  $5,696  $- 

Interest rate lock commitments

  37   -   37   - 

Available-for-sale debt securities:

                

U.S. government sponsored entities

  7,888   -   7,888   - 

Collateralized mortgage obligations and residential mortgage-backed securities

  114,781   -   114,781   - 

Municipal securities

  215,545   -   215,545   - 

Collateralized debt obligations

  1,371   -   -   1,371 

Total securities available-for-sale

 $339,585  $-  $338,214  $1,371 
                 

Liabilities:

                

Interest rate swap contracts

 $5,696  $-  $5,696  $- 
      

(Dollars in thousands)

 
      

Fair Value Measurements at December 31, 2023 Using

 

(Dollars in thousands)

 

Estimated
Fair
Value

  

Quoted Prices in

Active Markets for

Identical Assets
(Level 1)

  

Significant Other

Observable Inputs
(Level 2)

  

Significant

Unobservable

Inputs
(Level 3)

 

Assets:

                

Interest rate swap contracts

 $5,591  $-  $5,591  $- 

Interest rate lock commitments

  35   -   35   - 

Available-for-sale debt securities:

                

U.S. government sponsored entities

  7,883   -   7,883   - 

Collateralized mortgage obligations and residential mortgage-backed securities

  123,464   -   123,464   - 

Municipal securities

  238,670   -   238,670   - 

Collateralized debt obligations

  1,357   -   -   1,357 

Total securities available-for-sale

 $371,374  $-  $370,017  $1,357 
                 

Liabilities:

                

Interest rate swap contracts

 $5,591  $-  $5,591  $- 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
  

(Dollars in thousands)

 
  

Estimated Fair Value
Measurements Using
Significant Unobservable
Inputs
(Level 3)

 
  

Available-for-
sale securities

 

Beginning balance, January 1, 2023

 $1,048 

Principal payments

  - 

Total unrealized gains, included in other comprehensive income

  27 

Ending balance, June 30, 2023

 $1,075 
     

Beginning balance, January 1, 2024

 $1,357 

Principal payments

  (7)

Total unrealized gains, included in other comprehensive loss

  21 

Ending balance, June 30, 2024

 $1,371 
Fair Value Measurements, Nonrecurring [Table Text Block]
      

(Dollars in thousands)

 
      

Fair Value Measurements at June 30, 2024 Using

 

(Dollars in thousands)

 

Estimated
Fair
Value

  

Quoted Prices in Active Markets for Identical Assets
(Level 1)

  

Significant Other Observable Inputs
(Level 2)

  

Significant Unobservable Inputs
(Level 3)

 

Collateral dependent loans

 $872  $-  $-  $872 
      

(Dollars in thousands)

 
      

Fair Value Measurements at December 31, 2023 Using

 

(Dollars in thousands)

 

Estimated
Fair
Value

  

Quoted Prices in Active Markets for Identical Assets
(Level 1)

  

Significant Other Observable Inputs
(Level 2)

  

Significant Unobservable Inputs
(Level 3)

 

Collateral dependent loans

 $8,673  $-  $-  $8,673 
Fair Value, by Balance Sheet Grouping [Table Text Block]
  

June 30, 2024

  

Estimated Fair Value Measurements at

June 30, 2024 Using

 

(Dollars in thousands)

 

Carrying
Value

  

Estimated
Fair Value

  

 

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 cash equivalents

 $83,207  $83,207  $83,207  $-  $- 

Loans held-for-sale

  1,185   1,198   -   1,198   - 

Loans receivable, net

  1,488,068   1,435,954   -   -   1,435,954 

Federal Home Loan Bank stock

  6,547   6,547   -   6,547   - 

Accrued interest receivable

  7,695   7,695   -   7,695   - 
                     

Financial liabilities:

                    

Non-interest bearing deposits

  286,784   286,784   286,784   -   - 

Interest bearing deposits

  1,469,970   1,468,431   928,805   539,626   - 

Repurchase agreements

  42,973   42,816   35,537   7,279   - 

Borrowed funds

  85,000   84,849   -   84,849   - 

Accrued interest payable

  1,565   1,565   -   1,565   - 
  

December 31, 2023

  

Estimated Fair Value Measurements at

December 31, 2023 Using

 

(Dollars in thousands)

 

Carrying
Value

  

Estimated
Fair Value

  

 

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 cash equivalents

 $86,008  $86,008  $86,008  $-  $- 

Loans held-for-sale

  340   349   -   349   - 

Loans receivable, net

  1,493,827   1,412,069   -   -   1,412,069 

Federal Home Loan Bank stock

  6,547   6,547   -   6,547   - 

Accrued interest receivable

  8,045   8,045   -   8,045   - 
                     

Financial liabilities:

                    

Non-interest bearing deposits

  295,594   295,594   295,594   -   - 

Interest bearing deposits

  1,517,827   1,513,640   985,710   527,930   - 

Repurchase agreements

  38,124   37,938   31,033   6,905   - 

Borrowed funds

  80,000   79,791   -   79,791   - 

Accrued interest payable

  3,065   3,065   -   3,065   -