Note 7 - Fair Value (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

(Dollar amounts in thousands)			(Level 1)		(Level 2)		(Level 3)
Description	Total		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
June 30, 2020:
Securities available-for-sale
U.S. government sponsored entities and agencies	$	1,022	$	—	$	1,022	$	—
U.S. agency mortgage-backed securities: residential		19,145		—		19,145		—
U.S. agency collateralized mortgage obligations: residential		20,631		—		20,631		—
State and political subdivision		38,062		—		38,062		—
Corporate debt securities		12,527		—		8,505		4,022
Total available-for-sale securities	$	91,387	$	—	$	87,365	$	4,022
Equity securities	$	14	$	14	$	—	$	—
December 31, 2019:
Securities available-for-sale
U.S. government sponsored entities and agencies	$	7,077	$	—	$	7,077	$	—
U.S. agency mortgage-backed securities: residential		41,075		—		41,075		—
U.S. agency collateralized mortgage obligations: residential		32,837		—		32,837		—
State and political subdivisions		27,796		—		27,796		—
Corporate debt securities		11,322		—		7,300		4,022
Total available-for-sale securities	$	120,107	$	—	$	116,085	$	4,022
Equity securities	$	19	$	19	$	—	$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(Dollar amounts in thousands)	Three months ended June 30,					Six months ended June 30,
	2020		2019			2020		2019
Balance at the beginning of the period	$	4,022	$	3,500		$	4,022	$	3,500
Total gains or losses (realized/unrealized):
Included in earnings		—		—			—		—
Included in other comprehensive income		—		—			—		—
Transfers in and/or out of Level 3		—		(500	)		—		(500	)
Balance at the end of the period	$	4,022	$	3,000		$	4,022	$	3,000

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

(Dollar amounts in thousands)			(Level 1)		(Level 2)		(Level 3)
Description	Total		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
June 30, 2020:
Impaired commercial business loans	$	60	$	—	$	—	$	60
Other real estate owned		9		—		—		9
Total	$	69	$	—	$	—	$	69
December 31, 2019:
Other real estate owned	$	88	$	—	$	—	$	88
Total	$	88	$	—	$	—	$	88

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

(Dollar amounts in thousands)			Valuation	Unobservable	Weighted
			Techniques(s)	Input(s)	Average
June 30, 2020:
Impaired commercial business loans	$	60	Liquidation value of business assets	Adjustment for differences between comparable sales		10	%
Other real estate owned		9	Sales comparison approach	Adjustment for differences between comparable sales		10	%
December 31, 2019:
Other real estate owned	$	88	Sales comparison approach	Adjustment for differences between comparable sales		10	%

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

(Dollar amounts in thousands)
	Carrying		Fair Value Measurements using:
Description	Amount		Total		Level 1		Level 2		Level 3
June 30, 2020:
Financial Assets:
Cash and cash equivalents	$	25,834	$	25,834	$	25,834	$	—	$	—
Interest earning time deposits		6,462		6,462		—		6,462		—
Securities - available-for-sale		91,387		91,387		—		87,365		4,022
Securities - equities		14		14		14		—		—
Loans, net		803,732		801,735		—		—		801,735
Federal bank stock		6,181		N/A		N/A		N/A		N/A
Accrued interest receivable		3,449		3,449		57		361		3,031
Total	$	937,058	$	928,881	$	25,905	$	94,188	$	808,788
Financial Liabilities:
Deposits		868,712		874,599		670,755		203,844		—
Borrowed funds		32,050		33,268		—		33,268		—
Accrued interest payable		574		574		50		524		—
Total	$	901,336	$	908,441	$	670,805	$	237,636	$	—

December 31, 2019:
Financial Assets:
Cash and cash equivalents	$	14,986	$	14,986	$	14,986	$	—	$	—
Interest earning time deposits		9,698		9,698		—		9,698		—
Securities - available-for-sale		120,107		120,107		—		116,085		4,022
Securities - equities		19		19		19		—		—
Loans, net		695,348		697,990		—		—		697,990
Federal bank stock		5,790		N/A		N/A		N/A		N/A
Accrued interest receivable		2,600		2,600		78		419		2,103
Total	$	848,548	$	845,400	$	15,083	$	126,202	$	704,115
Financial Liabilities:
Deposits		787,124		793,999		569,357		224,642		—
Borrowed funds		28,550		29,133		—		29,133		—
Accrued interest payable		616		616		51		565		—
Total	$	816,290	$	823,748	$	569,408	$	254,340	$	—