Note 12 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

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

	Fair Value Measurements at March 31, 2020
					Significant		Significant
			Quoted Prices		Other		Other
			in Active Markets		Observable		Unobservable
			for Identical Assets		Inputs		Inputs
(in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Available-for-sale debt securities:
Obligations of state and political subdivisions	$	149,798	$	-	$	149,798	$	-
U.S. government/government-sponsored agencies:
Collateralized mortgage obligations - residential		79,211		-		79,211		-
Collateralized mortgage obligations - commercial		13,989		-		13,989		-
Mortgage-backed securities		18,793		-		18,793		-
Private collateralized mortgage obligations		23,765		-		23,765		-
Corporate debt securities		9,584		-		1,904		7,680
Asset-backed securities		6,802		-		6,802		-
Negotiable certificates of deposit		696		-		696		-
Subtotal available-for-sale debt securities		302,638		-		294,958		7,680
Equity securities, at fair value		934		934		-		-
Total assets	$	303,572	$	934	$	294,958	$	7,680
Derivative liabilities	$	14	$	-	$	14	$	-
Total liabilities	$	14	$	-	$	14	$	-

	Fair Value Measurements at December 31, 2019
					Significant		Significant
			Quoted Prices		Other		Other
			in Active Markets		Observable		Unobservable
			for Identical Assets		Inputs		Inputs
(in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Available-for-sale debt securities:
Obligations of state and political subdivisions	$	117,763	$	-	$	117,763	$	-
U.S. government/government-sponsored agencies:
Collateralized mortgage obligations - residential		80,294		-		80,294		-
Collateralized mortgage obligations - commercial		17,723		-		17,723		-
Mortgage-backed securities		18,485		-		18,485		-
Private collateralized mortgage obligations		25,075		-		25,075		-
Corporate debt securities		7,182		-		2,032		5,150
Asset-backed securities		5,621		-		5,621		-
Negotiable certificates of deposit		696		-		696		-
Subtotal available-for-sale debt securities		272,839		-		267,689		5,150
Equity securities, at fair value		920		920		-		-
Total assets	$	273,759	$	920	$	267,689	$	5,150

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

Fair Value Measurements
Using Significant Unobservable Inputs (Level 3)
	Corporate Debt Securities
	For the Three Months Ended March 31,
(in thousands)	2020			2019
Balance at January 1,	$	5,150		$	3,929
Additions		3,000			-
Payments Received		-			-
Sales		-			-
Total gains or losses (realized/unrealized):
Included in earnings		-			-
Included in other comprehensive income (loss)		(470	)		41
Balance at March 31,	$	7,680		$	3,970

Fair Value Measurements, Nonrecurring [Table Text Block]

	March 31, 2020
	Fair Value Measurement						Quantitative Information
	Recorded		Valuation		Fair		Valuation	Unobservable	Value/
(in thousands)	Investment		Allowance		Value		Technique	Inputs	Range
Impaired loans - collateral dependent	$	7,142	$	354	$	6,788	Appraisal of collateral	Selling cost		10.0	%
Impaired loans - other		7,983		69		7,914	Discounted cash flows	Discount rate		3.99%-7.49%

	December 31, 2019
	Fair Value Measurement						Quantitative Information
	Recorded		Valuation		Fair		Valuation	Unobservable	Value/
(in thousands)	Investment		Allowance		Value		Technique	Inputs	Range
Impaired loans - collateral dependent	$	7,721	$	376	$	7,345	Appraisal of collateral	Selling cost		10.0	%
Impaired loans - other		8,065		97		7,968	Discounted cash flows	Discount rate		3.99%-7.49%
Other real estate owned		289		-		289	Appraisal of collateral	Selling cost		10.0	%

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

	Fair Value	March 31, 2020				December 31, 2019
(in thousands)	Measurement	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets
Cash and short term investments	Level 1	$	45,547	$	45,547	$	34,565	$	34,565
Available-for-sale debt securities	See previous table		302,638		302,638		272,839		272,839
Equity securities, at fair value	Level 1		934		934		920		920
Restricted stock	Level 2		4,224		4,224		3,804		3,804
Loans held for sale	Level 2		470		470		1,061		1,061
Loans, net	Level 3		825,028		815,991		819,529		810,074
Accrued interest receivable	Level 2		3,387		3,387		3,234		3,234
Equity securities without readily determinable fair values	Level 3		1,658		1,658		1,658		1,658
Servicing rights	Level 3		338		805		356		790
Financial liabilities
Deposits	Level 2		1,001,562		1,003,411		1,001,709		1,001,829
Borrowed funds	Level 2		98,244		98,626		57,219		57,234
Accrued interest payable	Level 2		261		261		258		258
Derivative liabilities	Level 2		14		14		-		-