Note 7 - Fair Value (Tables)

9 Months Ended

Sep. 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
September 30, 2020:
Securities available-for-sale
U.S. government sponsored entities and agencies	$	1,017	$	—	$	1,017	$	—
U.S. agency mortgage-backed securities: residential		19,692		—		19,692		—
U.S. agency collateralized mortgage obligations: residential		20,859		—		20,859		—
State and political subdivision		45,561		—		45,561		—
Corporate debt securities		12,523		—		9,001		3,522
Total available-for-sale securities	$	99,652	$	—	$	96,130	$	3,522
Equity securities	$	12	$	12	$	—	$	—
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 September 30,					Nine months ended September 30,
	2020			2019		2020			2019
Balance at the beginning of the period	$	4,022		$	3,000	$	4,022		$	3,500
Total gains or losses (realized/unrealized):
Included in earnings		—			—		—			—
Included in other comprehensive income		—			—		—			—
Purchased into Level 3		—			500		—			500
Transfers in and/or out of Level 3		(500	)		—		(500	)		(500	)
Balance at the end of the period	$	3,522		$	3,500	$	3,522		$	3,500

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
September 30, 2020:
Impaired commercial business loans	$	54	$	—	$	—	$	54
Other real estate owned		34		—		—		34
Total	$	88	$	—	$	—	$	88
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
September 30, 2020:
Impaired commercial business loans	$	54	Liquidation value of business assets	Adjustment for differences between comparable sales		10	%
Other real estate owned		34	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
September 30, 2020:
Financial Assets:
Cash and cash equivalents	$	21,903	$	21,903	$	21,903	$	—	$	—
Interest earning time deposits		6,412		6,412		—		6,412		—
Securities - available-for-sale		99,652		99,652		—		96,130		3,522
Securities - equities		12		12		12		—		—
Loans held for sale		314		314		—		314		—
Loans, net		831,386		829,528		—		—		829,528
Federal bank stock		5,799		N/A		N/A		N/A		N/A
Accrued interest receivable		4,231		4,231		81		497		3,653
Total	$	969,709	$	962,052	$	21,996	$	103,353	$	836,703
Financial Liabilities:
Deposits		899,516		905,239		707,194		198,045		—
Borrowed funds		32,050		32,298		—		32,298		—
Accrued interest payable		534		534		36		498		—
Total	$	932,100	$	938,071	$	707,230	$	230,841	$	—

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	$	—