Note 8 - Fair Value (Tables)

3 Months Ended

Mar. 31, 2026

Notes Tables

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

						*Fair Value Measurements at March 31, 2026 Using:*
						Quoted
						Prices in				Significant
						Active Markets				Other				Significant
						for Identical				Observable				Unobservable
		Carrying				Assets				Inputs				Inputs
(In Thousands of Dollars)		Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets
Investment securities available-for sale
U.S. Treasury and U.S. government sponsored entities		$	94,898			$	0			$	94,898			$	0
State and political subdivisions			625,956				0				625,956				0
Corporate bonds			32,073				0				31,099				974
Mortgage-backed securities-residential			552,731				0				552,731				0
Collateralized mortgage obligations			176,660				0				176,660				0
Small Business Administration			1,880				0				1,880				0
Total investment securities		$	1,484,198			$	0			$	1,483,224			$	974

Equity securities			876				876				0				0
Loans held for sale			1,919				0				1,919				0
Interest rate swaps			958				0				958				0
Interest rate lock commitments			52				0				52				0
Forward sales contract			51				0				51				0
Financial Liabilities
Interest rate swaps			958				0				958				0
Fair value hedge derivative			324				0				324				0

						*Fair Value Measurements at December 31, 2025 Using:*
						Quoted
						Prices in				Significant
						Active Markets				Other				Significant
						for Identical				Observable				Unobservable
		Carrying				Assets				Inputs				Inputs
(In Thousands of Dollars)		Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets
Investment securities available-for sale
U.S. Treasury and U.S. government sponsored entities		$	95,295			$	0			$	95,295			$	0
State and political subdivisions			503,697				0				503,697				0
Corporate bonds			13,045				0				11,827				1,218
Mortgage-backed securities-residential			547,134				0				547,134				0
Collateralized mortgage obligations			182,216				0				182,216				0
Small Business Administration			2,070				0				2,070				0
Total investment securities			1,343,457				0				1,342,239				1,218

Equity securities			370				370				0				0
Loans held for sale			1,516				0				1,516				0
Interest rate swaps			911				0				911				0
Interest rate lock commitments			71				0				71				0
Financial Liabilities
Interest rate swaps			911				0				911				0
Forward sales contract			15				0				15				0
Fair value hedge derivative			529				0				529				0

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

		*Three Months ended*
		*March 31,*
(In Thousands of Dollars)		2026				2025
Beginning Balance		$	1,218			$	1,409
Transfers between levels			0				0
Acquired and/or purchased			0				0
Discount accretion (premium amortization)			4				14
Repayments, calls and maturities			(250	)			0
Changes in unrealized gains (losses)			2				(11	)
Ending Balance		$	974			$	1,412

Fair Value Measurements, Nonrecurring [Table Text Block]

						*Fair Value Measurements at March 31, 2026 Using:*
						Quoted
						Prices in				Significant
						Active Markets				Other				Significant
						for Identical				Observable				Unobservable
		Carrying				Assets				Inputs				Inputs
(In Thousands of Dollars)		Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets
Collateral dependent loans
Commercial real estate
Owner occupied		$	1,964			$	0			$	0			$	1,964
Non-owner occupied			11,196				0				0				11,196
Farmland			1,558				0				0				1,558
Commercial
Commercial and industrial			8,161				0				0				8,161
Agricultural			7				0				0				7
Residential real estate
1–4 family residential			97				0				0				97
Home equity lines of credit			208				0				0				208
Mortgage servicing rights			179				0				179				0

						*Fair Value Measurements at December 31, 2025 Using:*
						Quoted
						Prices in				Significant
						Active Markets				Other				Significant
						for Identical				Observable				Unobservable
		Carrying				Assets				Inputs				Inputs
(In Thousands of Dollars)		Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets
Collateral dependent loans
Commercial real estate
Non-owner occupied		$	7,626			$	0			$	0			$	7,626
Farmland			1,558				0				0				1,558
Commercial and industrial
Commercial and industrial			2,137				0				0				2,137
Residential real estate
1–4 family residential			295				0				0				295
Home equity lines of credit			302				0				0				302
Mortgage servicing rights			988				0				988				0

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

									Range
					Valuation		Unobservable		(Weighted
March 31, 2026		Fair value			Technique(s)		Input(s)		Average)
Collateral dependent loans
Commercial real estate		$	14,718		Income Approach		Adjustment for difference between cap rates of comparable sales		(63.33%) - 46.49% 8.56%
Commercial			8,168		Quoted price for collateral		Offer Price		7.58%
Residential			305		Sales comparison		Adjustment for differences between comparable sales		(20.40%) - 14.44% (4.92%)

									Range
					Valuation		Unobservable		(Weighted
December 31, 2025		Fair value			Technique(s)		Input(s)		Average)
Collateral dependent loans
Commercial real estate		$	9,184		Income approach		Adjustment for difference between cap rates of comparable sales		(57.94%) - 41.77% 15.31%
Commercial			2,137		Quoted price for collateral		Offer Price		9.14%
Residential			597		Sales comparison		Adjustment for differences between comparable sales		(11.58%) - 14.18% (6.26%)

Fair Value Disclosure of Asset and Liability Not Measured at Fair Value [Table Text Block]

						*Fair Value Measurements at March 31, 2026 Using:*
		Carrying
(In Thousands of Dollars)		Amount				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	186,083			$	38,220			$	147,863			$	0			$	186,083
Restricted stock			37,788				n/a				n/a				n/a				n/a
Loans, net			4,745,380				0				0				4,648,787				4,648,787
Financial liabilities
Deposits			5,921,385				5,004,550				918,094				0				5,922,644
Short-term borrowings			341,000				0				341,000				0				341,000
Long-term borrowings			94,108				0				89,203				0				89,203

						*Fair Value Measurements at December 31, 2025 Using:*
		Carrying
(In Thousands of Dollars)		Amount				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	92,357			$	20,486			$	71,871			$	0			$	92,357
Restricted stock			29,531				n/a				n/a				n/a				n/a
Loans, net			3,267,902				0				0				3,190,808				3,190,808
Financial liabilities
Deposits			4,342,778				3,576,017				768,246				0				4,344,263
Short-term borrowings			281,000				0				281,000				0				281,000
Long-term borrowings			86,733				0				80,998				0				80,998

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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