v3.25.2
Note 6 - Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

 

 

 

 

Fair Value Measurement Using

 

June 30, 2025

 

Balance

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. government agencies and corporations

 

$

303,421

 

 

$

-

 

 

$

303,421

 

 

$

-

 

States and political subdivisions

 

 

148,236

 

 

 

-

 

 

 

148,236

 

 

 

-

 

Mortgage-backed securities

 

 

132,538

 

 

 

-

 

 

 

132,538

 

 

 

-

 

Corporate debt securities

 

 

5,826

 

 

 

-

 

 

 

5,826

 

 

 

-

 

Total securities available for sale

 

$

590,021

 

 

$

-

 

 

$

590,021

 

 

$

-

 

 

 

 

 

 

Fair Value Measurement Using

 

December 31, 2024

 

Balance

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

U.S. government agencies and corporations

 

$

311,124

 

 

$

-

 

 

$

311,124

 

 

$

-

 

States and political subdivisions

 

 

145,734

 

 

 

-

 

 

 

145,734

 

 

 

-

 

Mortgage-backed securities

 

 

138,298

 

 

 

-

 

 

 

138,298

 

 

 

-

 

Corporate debt securities

 

 

5,743

 

 

 

-

 

 

 

5,743

 

 

 

-

 

U.S. treasury

 

 

999

 

 

 

-

 

 

 

999

 

 

 

-

 

Total securities available for sale

 

$

601,898

 

 

$

-

 

 

$

601,898

 

 

$

-

 

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

 

 

 

 

Estimated Fair Value

 

June 30, 2025

 

Carrying Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

9,798

 

 

$

9,798

 

 

$

-

 

 

$

-

 

Interest-bearing deposits

 

 

83,051

 

 

 

83,051

 

 

 

-

 

 

 

-

 

Securities available for sale

 

 

590,021

 

 

 

-

 

 

 

590,021

 

 

 

-

 

Restricted stock, at cost

 

 

1,848

 

 

 

-

 

 

 

1,848

 

 

 

-

 

Mortgage loans held for sale

 

 

1,072

 

 

 

-

 

 

 

1,072

 

 

 

-

 

Loans, net

 

 

1,000,275

 

 

 

-

 

 

 

-

 

 

 

953,810

 

Accrued interest receivable

 

 

6,413

 

 

 

-

 

 

 

6,413

 

 

 

-

 

Bank-owned life insurance

 

 

47,958

 

 

 

-

 

 

 

47,958

 

 

 

-

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,627,675

 

 

$

-

 

 

$

1,299,117

 

 

$

327,378

 

Accrued interest payable

 

 

1,522

 

 

 

-

 

 

 

1,522

 

 

 

-

 

 

 

 

 

 

Estimated Fair Value

 

December 31, 2024

 

Carrying Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

13,564

 

 

$

13,564

 

 

$

-

 

 

$

-

 

Interest-bearing deposits

 

 

94,254

 

 

 

94,254

 

 

 

-

 

 

 

-

 

Federal funds sold

 

 

299

 

 

 

299

 

 

 

-

 

 

 

-

 

Securities available for sale

 

 

601,898

 

 

 

-

 

 

 

601,898

 

 

 

-

 

Restricted stock, at cost

 

 

1,848

 

 

 

-

 

 

 

1,848

 

 

 

-

 

Mortgage loans held for sale

 

 

619

 

 

 

-

 

 

 

619

 

 

 

-

 

Loans, net

 

 

977,688

 

 

 

-

 

 

 

-

 

 

 

927,581

 

Accrued interest receivable

 

 

6,469

 

 

 

-

 

 

 

6,469

 

 

 

-

 

Bank-owned life insurance

 

 

47,369

 

 

 

-

 

 

 

47,369

 

 

 

-

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,644,752

 

 

$

-

 

 

$

1,332,138

 

 

$

312,811

 

Accrued interest payable

 

 

1,462

 

 

 

-

 

 

 

1,462

 

 

 

-