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NOTE 7 - FAIR VALUE (Tables)
9 Months Ended
Sep. 30, 2020
Notes Tables  
Schedule of assets measured at fair value

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)

September 30, 2020:

 

  

 

  

 

  

 

  

Securities AFS:

 

  

 

  

 

  

 

  

U.S. govt. sponsored agency securities

$

18,437

$

$

18,437

$

Residential mortgage-backed and related securities

 

134,147

 

 

134,147

 

Municipal securities

 

135,233

 

 

135,233

 

Asset-backed securities

40,665

40,665

Other securities

 

18,714

 

 

18,714

 

Derivatives

 

236,381

 

 

236,381

 

Total assets measured at fair value

$

583,577

$

$

583,577

$

 

  

 

  

 

  

 

  

Derivatives

$

244,510

$

$

244,510

$

Total liabilities measured at fair value

$

244,510

$

$

244,510

$

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

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)

September 30, 2020:

 

  

 

  

 

  

 

  

Impaired loans/leases

$

11,226

$

$

$

11,226

OREO

 

135

 

 

 

135

$

11,361

$

$

$

11,361

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 Information about Level Fair Value Measurements

 

Fair Value

Fair Value

 

September 30, 

December 31, 

 

    

2020

    

2019

    

Valuation Technique

    

Unobservable Input

    

Range

(dollars in thousands)

Impaired loans/leases

$

11,226

$

3,394

 

Appraisal of collateral

 

Appraisal adjustments

 

(10.00)

%  

to

 

(30.00)

%

OREO

 

135

 

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 September 30, 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

$

68,932

$

68,932

$

76,254

$

76,254

Federal funds sold

 

Level 2

 

530

 

530

 

9,800

 

9,800

Interest-bearing deposits at financial institutions

 

Level 2

 

302,138

 

302,138

 

147,891

 

147,891

Investment securities:

 

  

 

 

 

 

HTM

 

Level 2

 

434,892

 

460,199

 

400,646

 

426,545

AFS

 

*

 

347,196

 

347,196

 

210,695

 

210,695

Loans/leases receivable, net

 

Level 3

 

10,394

 

11,226

 

3,143

 

3,394

Loans/leases receivable, net

 

Level 2

 

4,158,001

 

4,142,232

 

3,651,061

 

3,606,520

Derivatives

 

Level 2

 

236,381

 

236,381

 

87,827

 

87,827

Deposits:

 

  

 

 

 

 

Nonmaturity deposits

 

Level 2

 

4,116,250

 

4,116,250

 

3,184,726

 

3,184,726

Time deposits

 

Level 2

 

556,018

 

562,068

 

726,325

 

742,444

Short-term borrowings

 

Level 2

 

30,430

 

30,430

 

13,423

 

13,423

FHLB advances

 

Level 2

 

40,000

 

40,182

 

159,300

 

159,193

Subordinated notes

Level 2

118,577

118,724

68,394

68,563

Junior subordinated debentures

 

Level 2

 

37,955

 

30,487

 

37,838

 

30,477

Derivatives

 

Level 2

 

244,510

 

244,510

 

88,437

 

88,437