v3.26.1
Note 5 - Fair Value Presentation (Tables)
 3 Months Ended
Mar. 31, 2026
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
  

March 31, 2026

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Investment securities available-for-sale:

                

Collateralized Mortgage Backed

 $—  $15,634  $—  $15,634 

Subordinated Debt

  —   10,255   750   11,005 

Preferred Stock

  —   —   471   471 

Municipal Securities:

                

Taxable

  —   7,670   —   7,670 

Tax-exempt

  —   20,204   —   20,204 

U.S. Government Agencies

  —   2,037   —   2,037 

Derivative asset – interest rate swap on loans

  —   10,100   —   10,100 

Total

 $—  $65,900  $1,221  $67,121 

Liabilities:

                

Derivative liability – interest rate swap on loans

 $—  $10,100  $—  $10,100 

Total

 $—  $10,100  $—  $10,100 
  

December 31, 2025

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Assets:

                

Investment securities available-for-sale:

                

Collateralized Mortgage Backed

 $—  $16,053  $—  $16,053 

Subordinated Debt

  —   10,456   750   11,206 

Preferred Stock

  —   —   468   468 

Municipal Securities:

                

Taxable

  —   7,689   —   7,689 

Tax-exempt

  —   20,451   —   20,451 

U.S. Government Agencies

  —   2,087   —   2,087 

Derivative asset – interest rate swap on loans

  —   9,931   —   9,931 

Total

 $—  $66,667  $1,218  $67,885 

Liabilities:

                

Derivative liability – interest rate swap on loans

 $—  $9,931  $—  $9,931 

Total

 $—  $9,931  $—  $9,931 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Reconciliation of Level 3 Inputs

 

(Dollars in thousands)

 

December 31, 2025 fair value

 $1,218 

Change in fair value (1)

  3 

March 31, 2026 fair value

 $1,221 
Fair Value Measurements, Nonrecurring [Table Text Block]

March 31, 2026

 

(Dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

  

Assets:

                 

Other Real Estate Owned

 $—  $—  $1,094  $1,094  

Property held for sale

  —   —   2,745   2,745  

Total

 $—  $—  $3,839  $3,839  
                  

December 31, 2025

  

(Dollars in thousands)

 Level 1  Level 2  Level 3  Total  

Assets:

                 

Other Real Estate Owned

 $—  $—  $1,697  $1,697  

Property held for sale

  —   —   2,728   2,728  

Total

 $—  $—  $4,425  $4,425  
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
  

Fair Value Measurements at March 31, 2026

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Other Real Estate Owned

 $1,094 

Appraisals

 

Discount to reflect current market conditions and estimated selling costs

  6% - 10% 

Property held for sale

 $2,745 

Transaction price

 

Estimated selling costs

  1% - 5% 

Total

 $3,839        
  

Fair Value Measurements at December 31, 2025

 

(Dollars in thousands)

 

Fair Value

 

Valuation Technique(s)

 

Unobservable Inputs

 

Range of Inputs

 

Other Real Estate Owned

 $1,697 

Appraisals

 

Discount to reflect current market conditions and estimated selling costs

  6% - 10% 

Property held for sale

 $2,728 

Transaction price

 

Estimated selling costs

  1% - 5% 

Total

 $4,425        
Fair Value, by Balance Sheet Grouping [Table Text Block]

March 31, 2026

 

Carrying

  

Estimated

  

Quoted Prices in Active Markets for Identical Assets

  

Significant Other Observable Inputs

  

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 

Assets:

                    

Cash and cash equivalents

 $168,115  $168,115  $168,115  $—  $— 

Securities:

                    

Available-for-sale

  57,021   57,021   —   55,800   1,221 

Held-to-maturity

  13,790   13,699   —   13,699   — 

Restricted securities

  6,998   6,998   —   6,998   — 

Loans, net

  1,850,961   1,845,508   —   —   1,845,508 

Derivative asset – interest rate swap on loans

  10,100   10,100   —   10,100   — 

Bank owned life insurance

  41,071   41,071   —   41,071   — 

Accrued interest receivable

  10,388   10,388   —   10,388   — 

Liabilities:

                    

Deposits

 $1,914,725  $1,914,231  $—  $1,164,284  $749,947 

Subordinated debt, net

  70,035   68,238   —   68,238   — 

Derivative liability – interest rate swaps on loans

  10,100   10,100   —   10,100   — 

Accrued interest payable

  2,529   2,529   —   2,529   — 

December 31, 2025

 

Carrying

  

Estimated

  

Quoted Prices in Active Markets for Identical Assets

  

Significant Other Observable Inputs

  

Significant Unobservable Inputs

 

(Dollars in thousands)

 

Amount

  

Fair Value

  

Level 1

  

Level 2

  

Level 3

 

Assets:

                    

Cash and cash equivalents

 $162,756  $162,756  $162,756  $—  $— 

Securities:

                    

Available-for-sale

  57,954   57,954   —   56,736   1,218 

Held-to-maturity

  13,798   13,754   —   13,754   — 

Restricted securities

  7,005   7,005   —   7,005   — 

Loans, net

  1,841,833   1,829,264   —   —   1,829,264 

Derivative asset – interest rate swap on loans

  9,931   9,931   —   9,931   — 

Bank owned life insurance

  40,752   40,752   —   40,752   — 

Accrued interest receivable

  10,562   10,562   —   10,562   — 

Liabilities:

                    

Deposits

 $1,899,184  $1,900,529  $—  $1,119,340  $781,189 

Subordinated debt, net

  69,936   67,816   —   67,816   — 

Derivative liability – interest rate swaps on loans

  9,931   9,931   —   9,931   — 

Accrued interest payable

  2,532   2,532   —   2,532   —