Note 7 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Notes Tables

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

(Dollars in Thousands)			Carrying value at March 31, 2018
Description	Balance as of March 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government agency securities	$	12,406	$	–	$	12,406	$	–
Mortgage-backed securities and CMO’s		21,425		–		21,425		–
Corporate securities		6,618		–		6,618		–
Municipal securities		9,122		–		9,122		–

(Dollars in Thousands)			Carrying value at December 31, 2017
Description	Balance as of December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government agency securities	$	13,435	$	–	$	13,435	$	–
Mortgage-backed securities and CMO’s		23,981		–		23,981		–
Corporate securities		7,067		–		7,067		–
Municipal securities		10,861		–		10,861		–

Fair Value Measurements, Nonrecurring [Table Text Block]

(Dollars in Thousands)			Carrying value at March 31, 2018
Description	Balance as of March 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Loans held for sale	$	592	$	–	$	592	$	–
Other real estate owned		3,625		–		–		3,625

(Dollars in Thousands)			Carrying value at December 31, 2017
Description	Balance as of December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Loans held for sale	$	1,587	$	–	$	1,587	$	–
Other real estate owned		3,249		–		–		3,249

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

(Dollars in Thousands)	Quantitative information about Level 3 Fair Value Measurements for March 31, 2018
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Other real estate owned	$	2,769	Discounted appraised value	Selling cost		6%	-	10%	(7%	)
				Discount for lack of marketability and age of appraisal		0%	-	43%	(1%	)
	$	856	Internal evaluations	Internal evaluations		21%	-	21%	(21%	)

(Dollars in Thousands)	Quantitative information about Level 3 Fair Value Measurements for December 31, 2017
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Other real estate owned	$	2,254	Discounted appraised value	Selling cost		6%	-	10%	(8%	)
				Discount for lack of marketability and age of appraisal		0%	-	43%	(7%	)
	$	995	Internal evaluations	Internal evaluations		19%	-	19%	(19%	)

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

(Dollars in Thousands)			Fair value at March 31, 2018
Description	Carrying value as of March 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Approximate Fair Values
Financial assets
Cash and due from banks	$	16,906	$	16,906	$	–	$	–	$	16,906
Federal funds sold		187		187		–		–		187
Securities available for sale		49,571		–		49,571		–		49,571
Restricted equity securities		2,447		–		2,447		–		2,447
Loans held for sale		592		–		592		–		592
Loans, net		451,730		–		–		442,811		442,811
Bank owned life insurance		8,721		–		8,721		–		8,721
Accrued income		2,528		–		2,528		–		2,528
Financial liabilities
Total deposits		476,308		–		475,686		–		475,686
FHLB borrowings		12,794		–		12,787		–		12,787
Subordinated notes		7,262		–		7,785		–		7,785
Other borrowings		580		–		580		–		580
Accrued interest payable		508		–		508		–		508

(Dollars in Thousands)			Fair value at December 31, 2017
Description	Carrying value as of December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Approximate Fair Values
Financial assets
Cash and due from banks	$	21,714	$	21,714	$	–	$	–	$	21,714
Federal funds sold		180		180		–		–		180
Securities available for sale		55,344		–		55,344		–		55,344
Restricted equity securities		2,371		–		2,371		–		2,371
Loans held for sale		1,587		–		1,587		–		1,587
Loans, net		440,437		–		–		438,449		438,449
Bank owned life insurance		8,669		–		8,669		–		8,669
Accrued income		2,681		–		2,681		–		2,681
Financial liabilities
Total deposits		477,320		–		477,599		–		477,599
FHLB borrowings		11,028		–		11,150		–		11,150
Subordinated notes		7,254		–		7,890		–		7,890
Other borrowings		1,558		–		1,558		–		1,558
Accrued interest payable		368		–		368		–		368