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Note 9 - Fair Value of Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2020
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
  

(Amounts in thousands)

 
      

Fair Value Measurements at September 30, 2020 Using

 
  

September 30,

             

Description

 

2020

  

Level 1

  

Level 2

  

Level 3

 

ASSETS

                

U.S. Government agencies and corporations

 $—  $—  $—  $— 

Obligations of states and political subdivisions

  88,411   —   88,411   — 

U.S. Government-sponsored mortgage-backed securities

  67,915   —   67,915   — 

U.S. Government-sponsored collateralized mortgage obligations

  5,616   —   5,616   — 

U.S. Government-guaranteed small business administration pools

  5,635   —   5,635   — 

Loans held for sale

  6,564   6,564   —   — 

Interest rate derivatives

  4,239   —   4,239   — 
                 

LIABILITIES

                

Interest rate derivatives

 $4,239  $—  $4,239  $— 
  

(Amounts in thousands)

 
      

Fair Value Measurements at December 31, 2019 Using

 
  

December 31,

             

Description

 

2019

  

Level 1

  

Level 2

  

Level 3

 

ASSETS

                

U.S. Government agencies and corporations

 $3,310  $—  $3,310  $— 

Obligations of states and political subdivisions

  69,626   —   69,626   — 

U.S. Government-sponsored mortgage-backed securities

  48,237   —   48,237   — 

U.S. Government-sponsored collateralized mortgage obligations

  8,481   —   8,481   — 

U.S. Government-guaranteed small business administration pools

  6,477   —   6,477   — 

Loans held for sale

  4,890   4,890   —   — 

Interest rate derivatives

  1,422   —   1,422   — 
                 

LIABILITIES

                

Interest rate derivatives

 $1,422  $—  $1,422  $— 
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
  

(Amounts in thousands)

 
  

Fair value at September 30,

 

Valuation

 

Significant Unobservable

    
  

2020

 

Technique

 

Input

 

Range of Inputs

 

Impaired loans

 $233 

Appraisal of Collateral

 

Appraisal Adjustments

  (76)%
       

Liquidation Expenses

  (10)%
  

(Amounts in thousands)

 
  

Fair value at December 31,

 

Valuation

 

Significant Unobservable

    
  

2019

 

Technique

 

Input

 

Range of Inputs

 

Impaired loans

 $405 

Appraisal of Collateral

 

Appraisal Adjustments

  (76)%
       

Liquidation Expenses

  (10)%
Fair Value, by Balance Sheet Grouping [Table Text Block]
  

(Amounts in thousands)

 
  

September 30, 2020

 
  

Carrying

                 
  

Amount

  

Level 1

  

Level 2

  

Level 3

  

Fair Value

 

ASSETS:

                    

Cash and cash equivalents

 $48,633  $48,633  $—  $—  $48,633 

Net loans

  528,101   —   —   530,052   530,052 

Bank-owned life insurance

  21,046   21,046   —   —   21,046 

Accrued interest receivable

  2,471   2,471   —   —   2,471 
                     

LIABILITIES:

                    

Demand, savings and money market deposits

 $571,060  $571,060  $—  $—  $571,060 

Time deposits

  109,580   —   —   110,833   110,833 

Securities sold under agreements to repurchase

  1,088   1,088   —   —   1,088 

Federal Home Loan Bank advances - short term

  7,000   —   —   7,002   7,002 

Federal Home Loan Bank advances - long term

  24,000   —   —   24,472   24,472 

Subordinated debt

  5,155   —   —   4,537   4,537 

Accrued interest payable

  411   411   —   —   411 
  

(Amounts in thousands)

 
  

December 31, 2019

 
  

Carrying

                 
  

Amount

  

Level 1

  

Level 2

  

Level 3

  

Fair Value

 

ASSETS:

                    

Cash and cash equivalents

 $27,815  $27,815  $—  $—  $27,815 

Net loans

  514,251   —   —   517,787   517,787 

Bank-owned life insurance

  17,768   17,768   —   —   17,768 

Accrued interest receivable

  2,336   2,336   —   —   2,336 
                     

LIABILITIES:

                    

Demand, savings and money market deposits

 $476,358  $476,358  $—  $—  $476,358 

Time deposits

  142,023   —   —   143,485   143,485 

Securities sold under agreements to repurchase

  1,922   1,922   —   —   1,922 

Federal Home Loan Bank advances - short term

  —   —   —   —   — 

Federal Home Loan Bank advances - long term

  24,000   —   —   24,005   24,005 

Subordinated debt

  5,155   —   —   4,835   4,835 

Accrued interest payable

  510   510   —   —   510