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Disclosures About Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Disclosures About Fair Value of Financial Instruments  
Schedule of fair value measurements of assets recognized in the accompanying statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements

    

    

Fair Value Measurements Using

Quoted Prices

in Active

Markets

Other

Significant

for Identical

Observable

Unobservable

 

 

Assets

 

Inputs

Inputs

     

Fair Value

     

(Level 1)

     

(Level 2)

     

(Level 3)

 

(In Thousands)

December 31, 2022

Available-for-sale securities

Agency mortgage-backed securities

$

286,482

$

$

286,482

$

Agency collateralized mortgage obligations

 

78,474

 

 

78,474

 

States and political subdivisions securities

 

57,495

 

 

57,495

 

Small Business Administration securities

 

68,141

 

 

68,141

 

Interest rate derivative asset

 

11,061

 

 

11,061

 

Interest rate derivative liability

 

(42,097)

 

 

(42,097)

 

December 31, 2021

 

 

  

 

 

  

Available-for-sale securities

Agency mortgage-backed securities

$

229,441

$

$

229,441

$

Agency collateralized mortgage obligations

 

204,277

 

 

204,277

 

States and political subdivisions securities

 

40,015

 

 

40,015

 

Small Business Administration securities

 

27,299

 

 

27,299

 

Interest rate derivative asset

 

2,816

 

 

2,816

 

Interest rate derivative liability

 

(2,895)

 

 

(2,895)

 

Schedule of fair value measurements of assets measured at fair value on a nonrecurring basis

    

Fair Value Measurements Using

Quoted

Prices

in Active

Markets

Other

Significant

 

 

for Identical

 

Observable

Unobservable

 

 

Assets

 

Inputs

Inputs

    

Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

 

(In Thousands)

December 31, 2022

Collateral-dependent loans

$

785

$

$

$

785

Foreclosed assets held for sale

$

$

$

$

December 31, 2021

 

 

  

 

  

 

Collateral-dependent loans

$

1,712

$

$

$

1,712

Foreclosed assets held for sale

$

315

$

$

$

315

Schedule of estimated fair values of the Company's financial instruments not recorded at fair value on the statements of financial condition

    

December 31, 2022

    

December 31, 2021

Carrying

Fair

Hierarchy

Carrying

Fair

Hierarchy

    

Amount

    

Value

    

Level

    

Amount

    

Value

    

Level

(Dollars in Thousands)

Financial assets

Cash and cash equivalents

$

168,520

$

168,520

 

1

$

717,267

$

717,267

 

1

Held-to-maturity securities

202,495

177,765

2

2

Mortgage loans held for sale

 

4,811

 

4,811

 

2

 

8,735

 

8,735

 

2

Loans, net of allowance for credit losses

 

4,506,836

 

4,391,084

 

3

 

4,007,500

 

4,001,362

 

3

Interest receivable

 

19,107

 

19,107

 

3

 

10,705

 

10,705

 

3

Investment in FHLB stock and other assets

 

30,814

 

30,814

 

3

 

6,655

 

6,655

 

3

Financial liabilities

Deposits

 

4,684,910

 

4,672,913

 

3

 

4,552,101

 

4,552,202

 

3

Short-term borrowings

 

266,426

 

266,426

 

3

 

138,955

 

138,955

 

3

Subordinated debentures

 

25,774

 

25,774

 

3

 

25,774

 

25,774

 

3

Subordinated notes

 

74,281

 

72,000

 

2

 

73,984

 

81,000

 

2

Interest payable

 

3,010

 

3,010

 

3

 

646

 

646

 

3

Unrecognized financial instruments (net of contractual value)

 

 

 

 

 

 

Commitments to originate loans

 

 

 

3

 

 

 

3

Letters of credit

 

73

 

73

 

3

 

50

 

50

 

3

Lines of credit

 

 

 

3

 

 

 

3