Note 15 - Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

(dollars in thousands)	2019			2018
Change in benefit obligation
Benefit obligation at beginning of year	$	4,493		$	5,223
Interest cost		182			173
Actuarial (gain) loss		827			(824	)
Benefits paid		(267	)		(79	)
Settlement (gain) loss		(13	)		-
Benefit obligation at end of year		5,222			4,493
Change in plan assets
Fair value of plan assets at beginning of year		8,092			8,513
Actual return on plan assets		1,332			(342	)
Benefits paid		(267	)		(79	)
Fair value of plan assets at end of year		9,157			8,092
Funded status at the end of the year	$	3,935		$	3,599

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

(dollars in thousands)	2019			2018
Amounts recognized in the Balance Sheet
Plan benefit cost	$	5,169		$	4,912
Unrecognized net actuarial loss		(1,234	)		(1,313	)
Amount recognized in other assets	$	3,935		$	3,599
Amounts recognized in accumulated comprehensive income (loss)
Unrecognized net actuarial loss	$	(1,234	)	$	(1,313	)
Deferred taxes		259			275
Amount recognized in accumulated comprehensive income (loss), net	$	(975	)	$	(1,038	)
Prepaid benefit detail
Benefit obligation	$	(5,222	)	$	(4,493	)
Fair value of assets		9,157			8,092
Unrecognized net actuarial loss		1,234			1,313
Prepaid benefit cost		5,169			4,912
Components of net periodic pension cost
Interest cost	$	182		$	173
Expected return on plan assets		(551	)		(576	)
Recognized net loss due to settlement		71			-
Recognized net actuarial loss		41			30
Net periodic benefit expense		(257	)		(373	)
Additional disclosure information
Accumulated benefit obligation	$	5,222		$	4,493
Vested benefit obligation	$	5,222		$	4,493
Discount rate used for net periodic pension cost		4.25	%		3.50	%
Discount rate used for disclosure		3.25	%		4.25	%
Expected return on plan assets		7.00	%		7.00	%
Rate of compensation increase		N/A			N/A
Average remaining service (years)		11			12

Schedule of Allocation of Plan Assets [Table Text Block]

(dollars in thousands)	Total		Level 1		Level 2		Level 3
December 31, 2019
Cash equivalents and short term investments	$	-	$	-	$	-	$	-
Mutual funds – equities		4,749		4,749		-		-
Mutual funds – fixed income		4,408		4,408		-		-
Total assets at fair value	$	9,157	$	9,157	$	-	$	-
December 31, 2018
Cash equivalents and short term investments	$	-	$	-	$	-	$	-
Mutual funds – equities		3,848		3,848		-		-
Mutual funds – fixed income		4,244		4,244		-		-
Total assets at fair value	$	8,092	$	8,092	$	-	$	-

Schedule of Expected Benefit Payments [Table Text Block]

(dollars in thousands)	Pension Benefits
2020	$	430
2021		275
2022		230
2023		1,206
2024		425
2025 – 2029		1,303
	$	3,869

Schedule of Weighted Average Number of Shares [Table Text Block]

	2019			2018
Mutual funds – fixed income		48	%		52	%
Mutual funds – equity		52	%		48	%
Cash and equivalents		0	%		0	%
Total		100	%		100	%

Schedule of Net Funded Status [Table Text Block]

	2019 Valuation			2018 Valuation
Source	Report			Report
Bank of Floyd Plan		103.97	%		106.44	%