v3.25.2
Note 9 - Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Notes Tables  
Fair Value, by Balance Sheet Grouping [Table Text Block]
      

Fair Value Measurements at June 30, 2025, Using:

 
  

Carrying Value

  

Level 1

  

Level 2

  

Level 3

  

Total Fair Value

 

Financial assets:

                    

Cash and cash equivalents

 $79,266  $79,266  $-  $-  $79,266 

Investment securities

  439,676   -   439,676   -   439,676 

Loans, net

  1,006,873   -   -   971,530   971,530 

FHLB stock

  6,234   -   6,234   -   6,234 

FRB Stock

  1,384   -   1,384   -   1,384 

Financial liabilities:

                    

Deposits

  1,366,827   1,240,043   -   125,532   1,365,575 

Repurchase agreements

  14,940   -   14,940   -   14,940 

Borrowings

  15,000   -   -   14,202   14,202 
      

Fair Value Measurements at December 31, 2024 Using:

 

Financial assets:

  Carrying Value   Level 1   Level 2   Level 3   Total Fair Value 

Cash and cash equivalents

 $82,018  $82,018  $-  $-  $82,018 

Investment securities

  437,735   -   437,735   -   437,735 

Loans, net

  1,005,375   -   -   981,114   981,114 

FHLB stock

  6,234   -   6,234   -   6,234 

FRB Stock

  1,380   -   1,380   -   1,380 

Financial liabilities:

                    

Deposits

  1,371,101   1,276,912   -   94,161   1,371,073 

Repurchase agreements

  22,073   -   22,073   -   22,073 

Borrowings

  15,000   -   -   13,967   13,967 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
      

Fair Value Measurements at

 
      

June 30, 2025 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. Government-sponsored agencies collateralized by mortgage obligations- residential

  222,524   -   222,524   - 

U.S. Government agencies collateralized by mortgage obligations-commercial

  129,241   -   129,241   - 

Obligations of states and political subdivisions

  87,911   -   87,911   - 
  $439,676  $-  $439,676  $- 
      

Fair Value Measurements at

 
      

December 31, 2024 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. Government-sponsored agencies collateralized by mortgage obligations - residential

  228,391   -   228,391   - 

U.S. Government-agencies collateralized by mortgage obligations - commercial

  121,870   -   121,870   - 

Obligations of states and political subdivisions

  87,474   -   87,474   - 
  $437,735  $-  $437,735  $- 
Fair Value Measurements, Nonrecurring [Table Text Block]
      

Fair Value Measurements at

     
      

June 30, 2025 Using

     
  

Total Fair Value

  

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

  

Significant Other Observable Inputs (Level 2)

  

Significant Unobservable Inputs (Level 3)

  

Total Losses Six Months Ended June 30, 2025

 
                     

Assets:

                    

Collateral-dependent loans

                    

Commercial

 $24  $-  $-  $24  $- 

Agricultural

  2,060   -   -   2,060   931 

Total

 $2,084  $-  $-  $2,084  $931 
                     

Other Real Estate Owned:

                    

RE – Residential

 $91  $-  $-  $91  $- 
      

Fair Value Measurements at

     
      

December 31, 2024 Using

     
  

Total Fair Value

  

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

  

Significant Other Observable Inputs (Level 2)

  

Significant Unobservable Inputs (Level 3)

  

Total Losses Six Months Ended June 30, 2024

 

Assets:

                    

Collateral-dependent loans

                    

Commercial

 $24  $-  $-  $24  $- 
                     

Other Real Estate Owned:

                    

RE – Residential

 $91  $-  $-  $91  $- 
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
                   
            

Range

  

Range

 
  

Fair Value

  

Fair Value

 

Valuation

  

(Weighted Average)

  

(Weighted Average)

 

Description

 

6/30/2025

  

12/31/2024

 

Technique

Significant Unobservable Input

 

6/30/2025

  

12/31/2024

 

Collateral-dependent loans:

                  

Commercial

 $24  $24 

Third Party appraisals

Management Adjustments to Reflect Current Conditions and Selling Costs

  54%  53%

Agricultural

  2,060   - 

Third Party appraisals

Management Adjustments to Reflect Current Conditions and Selling Costs

  (2% - 100%) 31%     

Total

 $2,084  $24         
                   

Other Real Estate:

                  

RE – Residential

 $91  $91 

Third Party appraisals

Management Adjustments to Reflect Current Conditions and Selling Costs

  60%  60%