v3.26.1
Note 5 - Fair Value Presentation (Tables)
6 Months Ended
Jun. 30, 2026
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
   

June 30, 2026

 

(Dollars in thousands)

 

Level 1

   

Level 2

   

Level 3

   

Total

 

Assets:

                               

Investment securities available-for-sale:

                               

Collateralized Mortgage Backed

  $     $ 15,134     $     $ 15,134  

Subordinated Debt

          10,659       750       11,409  

Preferred Stock

                475       475  

Municipal Securities:

                               

Taxable

          7,683             7,683  

Tax-exempt

          20,602             20,602  

U.S. Government Agencies

          1,811             1,811  

Derivative asset – interest rate swap on loans

          9,402             9,402  

Total

  $     $ 65,291     $ 1,225     $ 66,516  

Liabilities:

                               

Derivative liability – interest rate swap on loans

  $     $ 9,402     $     $ 9,402  

Total

  $     $ 9,402     $     $ 9,402  
   

December 31, 2025

 

(Dollars in thousands)

 

Level 1

   

Level 2

   

Level 3

   

Total

 

Assets:

                               

Investment securities available-for-sale:

                               

Collateralized Mortgage Backed

  $     $ 16,053     $     $ 16,053  

Subordinated Debt

          10,456       750       11,206  

Preferred Stock

                468       468  

Municipal Securities:

                               

Taxable

          7,689             7,689  

Tax-exempt

          20,451             20,451  

U.S. Government Agencies

          2,087             2,087  

Derivative asset – interest rate swap on loans

          9,931             9,931  

Total

  $     $ 66,667     $ 1,218     $ 67,885  

Liabilities:

                               

Derivative liability – interest rate swap on loans

  $     $ 9,931     $     $ 9,931  

Total

  $     $ 9,931     $     $ 9,931  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Reconciliation of Level 3 Inputs

 

(Dollars in thousands)

 

December 31, 2025 fair value

  $ 1,218  

Change in fair value (1)

    7  

June 30, 2026 fair value

  $ 1,225  
Fair Value Measurements, Nonrecurring [Table Text Block]

June 30, 2026

 

(Dollars in thousands)

 

Level 1

   

Level 2

   

Level 3

   

Total

   

Assets:

                                 

Collateral dependent loans with a specific reserve:

                                 

Consumer secured loans

  $     $     $ 12     $ 12    

Other real estate owned

                900       900    

Property held for sale

                2,760       2,760    

Total

  $     $     $ 3,672     $ 3,672    
                                   

December 31, 2025

   

(Dollars in thousands)

  Level 1     Level 2     Level 3     Total    

Assets:

                                 

Other real estate owned

  $     $     $ 1,697     $ 1,697    

Property held for sale

                2,728       2,728    

Total

  $     $     $ 4,425     $ 4,425    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
   

Fair Value Measurements at June 30, 2026

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Collateral dependent loans with a specific reserve:

                     

Consumer secured loans

  $ 12  

Liquidation value

 

Discount to reflect estimated selling costs

    10% - 30%  

Other real estate owned

    900  

Appraisals

 

Discount to reflect current market conditions and estimated selling costs

    6% - 10%  

Property held for sale

    2,760  

Transaction price

 

Estimated selling costs

    1% - 5%  

Total

  $ 3,672                
   

Fair Value Measurements at December 31, 2025

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Other real estate owned

  $ 1,697  

Appraisals

 

Discount to reflect current market conditions and estimated selling costs

    6% - 10%  

Property held for sale

    2,728  

Transaction price

 

Estimated selling costs

    1% - 5%  

Total

  $ 4,425                
Fair Value, by Balance Sheet Grouping [Table Text Block]

June 30, 2026

 

Carrying

   

Estimated

   

Quoted Prices in Active Markets for Identical Assets

   

Significant Other Observable Inputs

   

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

   

Fair Value

   

Level 1

   

Level 2

   

Level 3

 

Assets:

                                       

Cash and cash equivalents

  $ 109,281     $ 109,281     $ 109,281     $     $  

Securities:

                                       

Available-for-sale

    57,114       57,114             55,889       1,225  

Held-to-maturity

    13,785       13,766             13,766        

Restricted securities

    6,998       6,998             6,998        

Loans, net

    1,928,372       1,926,103                   1,926,103  

Derivative asset – interest rate swap on loans

    9,402       9,402             9,402        

Bank owned life insurance

    41,396       41,396             41,396        

Accrued interest receivable

    11,354       11,354             11,354        

Liabilities:

                                       

Deposits

  $ 1,934,305     $ 1,932,644     $     $ 1,165,440     $ 767,204  

Subordinated debt, net

    70,100       68,918             68,918        

Derivative liability – interest rate swaps on loans

    9,402       9,402             9,402        

Accrued interest payable

    3,043       3,043             3,043        

December 31, 2025

 

Carrying

   

Estimated

   

Quoted Prices in Active Markets for Identical Assets

   

Significant Other Observable Inputs

   

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

   

Fair Value

   

Level 1

   

Level 2

   

Level 3

 

Assets:

                                       

Cash and cash equivalents

  $ 162,756     $ 162,756     $ 162,756     $     $  

Securities:

                                       

Available-for-sale

    57,954       57,954             56,736       1,218  

Held-to-maturity

    13,798       13,754             13,754        

Restricted securities

    7,005       7,005             7,005        

Loans, net

    1,841,833       1,829,264                   1,829,264  

Derivative asset – interest rate swap on loans

    9,931       9,931             9,931        

Bank owned life insurance

    40,752       40,752             40,752        

Accrued interest receivable

    10,562       10,562             10,562        

Liabilities:

                                       

Deposits

  $ 1,899,184     $ 1,900,529     $     $ 1,119,340     $ 781,189  

Subordinated debt, net

    69,936       67,816             67,816        

Derivative liability – interest rate swaps on loans

    9,931       9,931             9,931        

Accrued interest payable

    2,532       2,532             2,532