v3.26.1
Note 5 - Financial Instruments and Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Notes Tables  
Fair Value, by Balance Sheet Grouping [Table Text Block]
                   

Hierarchy

 

(in thousands)

 

Carrying

   

Fair

   

Valuation

 
   

Amount

   

Value

   

Level

 

Financial assets:

                       

Cash and cash equivalents

  $ 201,603       201,603       1  

Restricted equity securities

    7,061       7,061       2  

Loans, net

    1,132,713       1,091,466       3  

Interest receivable

    8,473       8,473       2  
                         

Financial liabilities:

                       

Deposits

    (1,780,996 )     (1,780,767 )     3  

Interest payable

    (306 )     (306 )     2  
                   

Hierarchy

 

(in thousands)

 

Carrying

   

Fair

   

Valuation

 
   

Amount

   

Value

   

Level

 

Financial assets:

                       

Cash and cash equivalents

  $ 232,179     $ 232,179       1  

Restricted equity securities

    7,061       7,061       2  

Loans, net

    1,129,606       1,085,650       3  

Interest receivable

    8,879       8,879       2  
                         

Financial liabilities:

                       

Deposits

    (1,792,962

)

    (1,792,794

)

    3  

Interest payable

    (268

)

    (268

)

    2  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
   

Fair Value Measurements as of March 31, 2026 Using

 

(in thousands)

 

March 31, 2026

   

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

   

Significant
Other
Observable
Inputs
(Level 2)

   

Significant
Unobservable
Inputs
(Level 3)

 

Assets and liabilities measured on a recurring basis:

                               

Available-for-sale securities:

                               

U.S. agencies

  $ 113,792     $ 0     $ 113,792     $ 0  

Collateralized mortgage obligations

    36,522       0       36,522       0  

Municipalities

    342,738       0       342,738       0  

SBA pools

    524       0       524       0  

Corporate debt

    35,324       0       35,324       0  

Asset-backed securities

    26,147       0       26,147       0  
                                 

Equity Securities:

                               

Mutual fund

  $ 3,434     $ 3,434     $ 0     $ 0  
                                 

Assets and liabilities measured on a non-recurring basis:

                               

Collateral dependent loans

  $ 2,847     $ 0     $ 0     $ 2,847  
   

Fair Value Measurements at December 31, 2025 Using

 

(in thousands)

 

December 31, 2025

   

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

   

Significant
Other
Observable
Inputs
(Level 2)

   

Significant
Unobservable
Inputs
(Level 3)

 

Assets and liabilities measured on a recurring basis:

                               

Available-for-sale securities:

                               

U.S. agencies

  $ 101,537     $ 0     $ 101,537     $ 0  

Collateralized mortgage obligations

    34,793       0       34,793       0  

Municipalities

    338,468       0       338,468       0  

SBA pools

    559       0       559       0  

Corporate debt

    40,412       0       40,412       0  

Asset backed securities

    27,763       0       27,763       0  
                                 

Equity Securities:

                               

Mutual fund

  $ 3,424     $ 3,424     $ 0     $ 0  
                                 

Assets and liabilities measured on a non-recurring basis:

                               

Collateral dependent loans

  $ 3,298     $ 0     $ 0     $ 3,298