Note 8 - Fair Value Measurements and Disclosures (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Financial Assets Measured at Fair Value on a Recurring and Nonrecurring Basis

March 31, 2017	Quotedprices in active markets for identical assets (Level 1)		Significant other observable input (Level 2)		Significant unobservable inputs (Level 3)		Balance at end of period
Recurring fair value measurements
Trading Securities
State and municipal securities	$	—	$	2,358	$	—	$	2,358
Securities available-for-sale
U.S. Government agency securities		—	$	70,646		—	$	70,646
State and municipal securities		—		75,728		—		75,728
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed securities		—		142,230		—		142,230
Collateralized mortgage obligations (CMOs)		—		77,106		—		77,106
Pooled trust preferred securities		—		—	$	2,423		2,423
Corporate debt securities		—		8,056		—		8,056
Equity securities	$	6,107		—		—		6,107
Total securities available-for-sale	$	6,107	$	373,766	$	2,423	$	382,296
Total recurring fair value measurements	$	6,107	$	376,124	$	2,423	$	384,654
Nonrecurring fair value measurements
Impaired loans	$	—	$	—	$	3,003	$	3,003
Mortgage servicing rights		—		—		43		43
Total nonrecurring fair value measurements	$	—	$	—	$	3,046	$	3,046

December 31, 2016	Quoted prices in active markets for identical assets (Level 1)		Significant other observable input (Level 2)		Significant unobservable inputs (Level 3)		Balance at end of period
Recurring fair value measurements
Trading Securities
State and municipal securities	$	—	$	3,596	$	—	$	3,596
Securities available-for-sale
U.S. Government agency securities		—	$	76,650		—	$	76,650
State and municipal securities		—		72,295		—		72,295
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed securities		—		145,301		—		145,301
Collateralized mortgage obligations (CMOs)		—		77,415		—		77,415
Pooled trust preferred securities		—		—	$	2,281		2,281
Corporate debt securities		—		8,030		—		8,030
Equity securities	$	8,503		—		—		8,503
Total securities available-for-sale	$	8,503	$	379,691	$	2,281	$	390,475
Total recurring fair value measurements	$	8,503	$	383,287	$	2,281	$	394,071
Nonrecurring fair value measurements
Impaired loans	$	—	$	—	$	2,899	$	2,899
Mortgage servicing rights		—		—		58		58
Total nonrecurring fair value measurements	$	—	$	—	$	2,957	$	2,957

Quantitative Information about Assets Measured at Fair Value

	Quantitative information about Level 3 fair value measurements
March 31, 2017	Fair value		Valuation techniques		Unobservable input		Value or range of values
Impaired loans	$	1,281	Appraisal of collateral	(1)	Appraisal adjustments	(2)	-10% to -80%
					Liquidation expenses	(3)	-10%
Impaired loans		24	Used commercial vehicle and equipment guides		Guide value discounts	(4)	0% to -25%
Impaired loans		1,698	Financial statement values for UCC collateral		Financial statement value discounts	(5)	-20% to -50%
Mortgage servicing rights		43	Discounted cash flow		Remaining term		2 to 27 yrs
					Discount rate		14% to 16%

	Quantitative information about Level 3 fair value measurements
December 31, 2016	Fair value		Valuation techniques		Unobservable input		Value or range of values
Impaired loans	$	938	Appraisal of collateral	(1)	Appraisal adjustments	(2)	-10% to -80%
					Liquidation expenses	(3)	-10%
Impaired loans		76	Used commercial vehicle and equipment guides		Guide value discounts	(4)	0% to -25%
Impaired loans		1,880	Financial statement values for UCC collateral		Financial statement value discounts	(5)	-20% to -50%
Impaired loans		5	Agreement of sale	(6)
Mortgage servicing rights		58	Discounted cash flow		Remaining term		2 to 27 yrs
					Discount rate		14% to 16%

Available-for-sale Securities Measured at Fair Value Using Significant Unobservable Inputs

	Fair value measurements using significant unobservable inputs (Level 3)
	2017			2016
Balance, January 1,	$	2,281		$	2,653
Payments received		(34	)		(71	)
Total gains or losses (realized/unrealized)
Included in earnings		—			—
Included in other comprehensive income		176			73
Transfers in and/or out of Level 3		—			—
Balance, March 31,	$	2,423		$	2,655

Financial and Off-balance Sheet Instruments

					Fair value measurements
March 31, 2017	Carrying amount		Fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets
Cash and cash equivalents	$	20,542	$	20,542	$	20,542		—		—
Investment securities:
Trading		2,358		2,358		—	$	2,358		—
Available-for-sale		382,296		382,296		6,107		373,766	$	2,423
Restricted investment in bank stocks		910		910		—		910		—
Loans held-for-sale		903		925		—		925		—
Net loans		651,320		649,870		—		—		649,870
Mortgage servicing rights		494		595		—		—		595
Accrued interest receivable		2,774		2,774		—		2,774		—
Financial liabilities
Deposits with no stated maturities	$	716,424	$	716,424	$	716,424		—	$	—
Deposits with stated maturities		226,467		225,847		—	$	225,847		—
Short-term borrowings		45,265		45,265		45,265		—		—
Accrued interest payable		303		303		—		303		—
Off-balance sheet instruments
Commitments to extend credit	$	—	$	—	$	—	$	—	$	—
Standby letters of credit		—		—		—		—		—

					Fair value measurements
December 31, 2016	Carrying amount		Fair value		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Financial assets
Cash and cash equivalents	$	10,721	$	10,721	$	10,721		—		—
Investment securities:
Trading		3,596		3,596		—	$	3,596		—
Available-for-sale		390,475		390,475		8,503		379,691	$	2,281
Restricted investment in bank stocks		1,017		1,017		—		1,017		—
Loans held-for-sale		789		789		—		789		—
Net loans		625,685		626,052		—		—		626,052
Mortgage servicing rights		498		579		—		—		579
Accrued interest receivable		3,128		3,128		—		3,128		—
Financial liabilities
Deposits with no stated maturities	$	687,773	$	687,773	$	687,773		—	$	—
Deposits with stated maturities		225,582		225,403		—	$	225,403		—
Short-term borrowings		52,660		52,660		52,660		—		—
Accrued interest payable		335		335		—		335		—
Off-balance sheet instruments
Commitments to extend credit	$	—	$	—	$	—	$	—	$	—
Standby letters of credit		—		—		—		—		—