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Note 5 - Debt Securities (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Marketable Securities [Table Text Block]

		*December 31, 2022*
						*Unrealized*
Dollars in thousands		*Amortized Cost*				*Gains*				*Losses*				*Fair Value*
Debt Securities Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations		$	20,446			$	83			$	310			$	20,219
Residential mortgage-backed securities:
Government-sponsored agencies			55,184				80				3,808				51,456
Nongovernment-sponsored entities			65,860				48				4,291				61,617
State and political subdivisions
General obligations			82,410				9				19,924				62,495
Various tax revenues			10,699				—				2,591				8,108
Other revenues			29,044				—				6,580				22,464
Corporate debt securities			33,409				44				1,825				31,628
Asset-backed securities			20,009				—				533				19,476
Total taxable debt securities			317,061				264				39,862				277,463
Tax-exempt debt securities
State and political subdivisions
General obligations			93,910				281				6,719				87,472
Water and sewer revenues			17,560				120				1,154				16,526
Lease revenues			7,411				47				411				7,047
Various tax revenues			7,851				—				1,115				6,736
Other revenues			11,274				9				1,326				9,957
Total tax-exempt debt securities			138,006				457				10,725				127,738
Total debt securities available for sale		$	455,067			$	721			$	50,587			$	405,201

		*December 31, 2021*
						*Unrealized*
Dollars in thousands		*Amortized Cost*				*Gains*				*Losses*				*Fair Value*
Debt Securities Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations		$	36,820			$	169			$	360			$	36,629
Residential mortgage-backed securities:
Government-sponsored agencies			61,646				1,153				588				62,211
Nongovernment-sponsored entities			26,839				26				279				26,586
State and political subdivisions
General obligations			78,627				377				1,323				77,681
Water and sewer revenues			9,839				294				—				10,133
Lease revenues			6,401				215				26				6,590
Income tax revenues			6,487				250				3				6,734
Sales tax revenues			6,909				19				99				6,829
Various tax revenues			13,031				218				203				13,046
Utility revenues			7,153				137				130				7,160
Other revenues			9,291				331				9				9,613
Corporate debt securities			30,524				78				324				30,278
Asset-backed securities			24,873				97				87				24,883
Total taxable debt securities			318,440				3,364				3,431				318,373
Tax-exempt debt securities
State and political subdivisions
General obligations			47,583				1,526				270				48,839
Water and sewer revenues			10,618				375				15				10,978
Lease revenues			7,974				553				31				8,496
Other revenues			14,028				405				16				14,417
Total tax-exempt debt securities			80,203				2,859				332				82,730
Total debt securities available for sale		$	398,643			$	6,223			$	3,763			$	401,103

Summary of Volume of State and Political Subdivision Securities Held in Portfolio [Table Text Block]

		*December 31, 2022*
						*Unrealized*
Dollars in thousands		*Amortized Cost*				*Gains*				*Losses*				*Fair Value*

California		$	47,586			$	—			$	11,020			$	36,566
Texas			38,457				228				5,089				33,596
Michigan			23,956				55				2,489				21,522
Washington			20,655				11				1,784				18,882
Oregon			15,760				—				4,173				11,587

Schedule of Realized Gain (Loss) [Table Text Block]

Dollars in thousands		*Proceeds from*												*Gross realized*
						*Calls and*				*Principal*
Years ended December 31,		*Sales*				*Maturities*				*Payments*				*Gains*				*Losses*
2022		$	69,211			$	1,875			$	37,860			$	288			$	996
2021			64,932				8,070				29,869				1,210				785
2020			124,809				3,525				24,654				3,489				17

Investments Classified by Contractual Maturity Date [Table Text Block]

Dollars in thousands		*Amortized Cost*				*Fair Value*
Due in one year or less		$	43,819			$	42,123
Due from one to five years			85,057				80,169
Due from five to ten years			73,253				66,365
Due after ten years			252,938				216,544
Total		$	455,067			$	405,201

Schedule of Unrealized Loss on Investments [Table Text Block]

		*2022*
						*Less than 12 months*								*12 months or more*								*Total*
Dollars in thousands		*# of securities in loss position*				*Fair Value*				*Unrealized Loss*				*Fair Value*				*Unrealized Loss*				*Fair Value*				*Unrealized Loss*
Taxable debt securities
U.S. Government agencies and corporations			28			$	8,012			$	99			$	9,577			$	211			$	17,589			$	310
Residential mortgage-backed securities:
Government-sponsored agencies			58				21,831				1,104				19,459				2,704				41,290				3,808
Nongovernment-sponsored entities			27				35,727				2,974				10,041				1,317				45,768				4,291
State and political subdivisions:
General obligations			56				11,258				1,476				49,858				18,448				61,116				19,924
Various tax revenues			7				1,352				276				6,756				2,315				8,108				2,591
Other revenues			23				6,361				1,040				16,103				5,540				22,464				6,580
Corporate debt securities			20				8,308				591				13,072				1,234				21,380				1,825
Asset-backed securities			13				11,680				277				7,796				256				19,476				533
Tax-exempt debt securities
State and political subdivisions:
General obligations			52				50,671				1,823				26,062				4,896				76,733				6,719
Water and sewer revenues			13				8,800				403				4,471				751				13,271				1,154
Lease revenues			2				3,330				11				1,985				400				5,315				411
Various tax revenues			4				3,597				439				3,139				676				6,736				1,115
Other revenues			7				2,900				393				4,812				933				7,712				1,326
Total			310			$	173,827			$	10,906			$	173,131			$	39,681			$	346,958			$	50,587

		*2021*
						*Less than 12 months*								*12 months or more*								*Total*
Dollars in thousands		*# of securities in loss position*				*Fair Value*				*Unrealized Loss*				*Fair Value*				*Unrealized Loss*				*Fair Value*				*Unrealized Loss*
Taxable debt securities
U.S. Government agencies and corporations			41			$	6,630			$	23			$	21,061			$	337			$	27,691			$	360
Residential mortgage-backed securities:
Government-sponsored agencies			19				19,828				376				6,886				212				26,714				588
Nongovernment-sponsored entities			6				4,345				61				7,591				218				11,936				279
State and political subdivisions:
General obligations			41				62,543				1,286				1,055				37				63,598				1,323
Lease revenues			2				1,564				14				494				12				2,058				26
Income tax revenues			1				721				3				—				—				721				3
Sales tax revenues			2				6,052				99				—				—				6,052				99
Various tax revenues			5				8,389				203				—				—				8,389				203
Utility revenues			3				5,175				130				—				—				5,175				130
Other revenues			1				744				9				—				—				744				9
Corporate debt securities			10				10,534				314				990				10				11,524				324
Asset-backed securities			8				10,522				86				751				1				11,273				87
Tax-exempt debt securities
State and political subdivisions:
General obligations			13				25,555				261				853				9				26,408				270
Water and sewer revenues			1				904				15				—				—				904				15
Lease revenues			1				2,396				31				—				—				2,396				31
Other revenues			3				3,558				15				156				1				3,714				16
Total			157			$	169,460			$	2,926			$	39,837			$	837			$	209,297			$	3,763

Debt Securities, Held-to-Maturity [Table Text Block]

		*December 31, 2022*
		*Amortized*				*Unrealized*								*Estimated*
Dollars in thousands		*Cost*				*Gains*				*Losses*				*Fair Value*
Debt Securities Held to Maturity
Tax-exempt debt securities
State and political subdivisions
General obligations		$	70,401			$	—			$	6,480			$	63,921
Water and sewer revenues			8,006				—				672				7,334
Lease revenues			4,234				—				534				3,700
Sales tax revenues			4,515				—				689				3,826
Various tax revenues			5,511				—				871				4,640
Other revenues			3,496				—				290				3,206
Total Debt Securities Held to Maturity		$	96,163			$	—			$	9,536			$	86,627

		*December 31, 2021*
		*Amortized*				*Unrealized*								*Estimated*
Dollars in thousands		*Cost*				*Gains*				*Losses*				*Fair Value*
Debt Securities Held to Maturity
Tax-exempt debt securities
State and political subdivisions
General obligations		$	71,807			$	2,583			$	—			$	74,390
Water and sewer revenues			8,192				210				—				8,402
Lease revenues			4,316				74				—				4,390
Sales tax revenues			4,582				106				—				4,688
Other revenues			9,163				214				5				9,372
Total Debt Securities Held to Maturity		$	98,060			$	3,187			$	5			$	101,242

Summary of Volume of State and Political Subdivision Securities Held to Maturity [Table Text Block]

		*December 31, 2022*
		*Amortized*				*Unrealized*								*Estimated*
Dollars in thousands		*Cost*				*Gains*				*Losses*				*Fair Value*
Texas		$	15,101			$	—			$	1,301			$	13,800
California			9,665				—				759				8,906
Pennsylvania			8,479				—				726				7,753
Florida			7,465				—				1,020				6,445
Michigan			6,904				—				797				6,107

Debt Securities Held to Maturity by Credit Rating [Table Text Block]

		*December 31, 2022*
Dollars in thousands		*AAA*				AA				A				*BBB*				*Below Investment Grade*
Tax-exempt state and political subdivisions		$	12,846			$	75,932			$	7,385			$	—			$	—

		*December 31, 2021*
Dollars in thousands		*AAA*				AA				A				*BBB*				*Below Investment Grade*
Tax-exempt state and political subdivisions		$	15,450			$	75,119			$	7,491			$	—			$	—

Held to Maturity Investments Classified by Contractual Maturity Date [Table Text Block]

Dollars in thousands		*Amortized Cost*				*Estimated Fair Value*
Due in one year or less		$	—			$	—
Due from one to five years			—				—
Due from five to ten years			2,811				2,613
Due after ten years			93,352				84,014
Total		$	96,163			$	86,627