NOTE 6 - FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Schedule of assets measured at fair value

			FairValue Measurements at Reporting Date Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
	(dollars in thousands)
March 31, 2020:
Securities AFS:
U.S. govt. sponsored agency securities	$	19,457	$	—	$	19,457	$	—
Residential mortgage-backed and related securities		122,853		—		122,853		—
Municipal securities		63,431		—		63,431		—
Asset-backed securities		28,499				28,499
Other securities		19,048		—		19,048		—
Derivatives		195,973		—		195,973		—
Total assets measured at fair value	$	449,261	$	—	$	449,261	$	—
Derivatives	$	203,744	$	—	$	203,744	$	—
Total liabilities measured at fair value	$	203,744	$	—	$	203,744	$	—
December 31, 2019:
Securities AFS:
U.S. govt. sponsored agency securities	$	20,078	$	—	$	20,078	$	—
Residential mortgage-backed and related securities		120,587		—		120,587		—
Municipal securities		48,257		—		48,257		—
Asset-backed securities		16,887				16,887
Other securities		4,886		—		4,886		—
Derivatives		87,827		—		87,827		—
Total assets measured at fair value	$	298,522	$	—	$	298,522	$	—
Derivatives	$	88,437	$	—	$	88,437	$	—
Total liabilities measured at fair value	$	88,437	$	—	$	88,437	$	—

			Fair Value Measurements at Reporting Date Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
March 31, 2020:
Impaired loans/leases	$	6,062	$	—	$	—	$	6,062
OREO		3,562		—		—		3,562
	$	9,624	$	—	$	—	$	9,624
December 31, 2019:
Impaired loans/leases	$	3,394	$	—	$	—	$	3,394
OREO		4,459		—		—		4,459
	$	7,853	$	—	$	—	$	7,853

Schedule of assets measured at fair value, valuation techniques

	Quantitative Informationabout Level Fair ValueMeasurements
	Fair Value		Fair Value
	March 31,		December 31,
	2020		2019		Valuation Technique	Unobservable Input	Range
	(dollars in thousands)
Impaired loans/leases	$	6,062	$	3,394	Appraisal of collateral	Appraisal adjustments	(10.00)	%	to	(30.00)	%
OREO		3,562		4,459	Appraisal of collateral	Appraisal adjustments	0.00	%	to	(35.00)	%

Schedule of assets and liabilities measured at fair value

	Fair Value	As of March 31, 2020				As of December 31, 2019
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
		(dollars in thousands)
Cash and due from banks	Level 1	$	169,827	$	169,827	$	76,254	$	76,254
Federal funds sold	Level 2		4,695		4,695		9,800		9,800
Interest-bearing deposits at financial institutions	Level 2		202,013		202,013		147,891		147,891
Investment securities:
HTM	Level 2		431,283		450,401		400,646		426,545
AFS	*		253,288		253,288		210,695		210,695
Loans/leases receivable, net	Level 3		5,613		6,062		3,143		3,394
Loans/leases receivable, net	Level 2		3,656,822		3,624,689		3,651,061		3,606,520
Derivatives	Level 2		195,973		195,973		87,827		87,827
Deposits:
Nonmaturity deposits	Level 2		3,292,795		3,292,795		3,184,726		3,184,726
Time deposits	Level 2		877,683		887,294		726,325		742,444
Short-term borrowings	Level 2		43,067		43,067		13,423		13,423
FHLB advances	Level 2		95,000		96,515		159,300		159,193
Subordinated notes	Level 2		68,455		68,673		68,394		68,563
Junior subordinated debentures	Level 2		37,877		30,541		37,838		30,477
Derivatives	Level 2		203,744		203,744		88,437		88,437