NOTE 7 - FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities	$	23,689	$	—	$	23,689	$	—
Residential mortgage-backed and related securities		100,744		—		100,744		—
Municipal securities		166,359		—		166,359		—
Asset-backed securities		30,607		—		30,607		—
Other securities		23,317		—		23,317		—
Derivatives		198,393		—		198,393		—
Total assets measured at fair value	$	543,109	$	—	$	543,109	$	—
Derivatives	$	201,450	$	—	$	201,450	$	—
Total liabilities measured at fair value	$	201,450	$	—	$	201,450	$	—
December 31, 2020:
Securities AFS:
U.S. govt. sponsored agency securities	$	15,336	$	—	$	15,336	$	—
Residential mortgage-backed and related securities		132,842		—		132,842		—
Municipal securities		152,408		—		152,408		—
Asset-backed securities		40,683		—		40,683		—
Other securities		20,697		—		20,697		—
Derivatives		222,757		—		222,757		—
Total assets measured at fair value	$	584,723	$	—	$	584,723	$	—
Derivatives	$	229,270	$	—	$	229,270	$	—
Total liabilities measured at fair value	$	229,270	$	—	$	229,270	$	—

			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, 2021:
Loans/leases evaluated individually	$	65,027	$	—	$	—	$	65,027
OREO		—		—		—		—
	$	65,027	$	—	$	—	$	65,027
December 31, 2020:
Loans/leases evaluated individually	$	9,926	$	—	$	—	$	9,926
OREO		22		—		—		22
	$	9,948	$	—	$	—	$	9,948

Schedule of assets measured at fair value, valuation techniques

	Quantitative Information about Level Fair Value Measurements
	Fair Value		Fair Value
	September 30,		December 31,
	2021		2020		Valuation Technique	Unobservable Input	Range
	(dollars in thousands)
Loans/leases evaluated individually	$	65,027	$	9,926	Appraisal of collateral	Appraisal adjustments	-10.00	%	to	-30.00	%
OREO		—		22	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, 2021				As of December 31, 2020
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
		(dollars in thousands)
Cash and due from banks	Level 1	$	57,310	$	57,310	$	61,329	$	61,329
Federal funds sold	Level 2		6,985		6,985		9,080		9,080
Interest-bearing deposits at financial institutions	Level 2		63,841		63,841		86,596		86,596
Investment securities:
HTM	Level 2		484,003		531,279		476,165		521,277
AFS	Level 2		344,716		344,716		361,966		361,966
Loans/leases receivable, net	Level 3		60,210		65,027		9,191		9,926
Loans/leases receivable, net	Level 2		4,458,850		4,361,433		4,157,562		4,112,735
Derivatives	Level 2		198,393		198,393		222,757		222,757
Deposits:
Nonmaturity deposits	Level 2		4,426,844		4,426,844		4,138,478		4,138,478
Time deposits	Level 2		444,984		440,549		460,659		465,681
Short-term borrowings	Level 2		1,600		1,600		5,430		5,430
FHLB advances	Level 2		30,000		30,000		15,000		14,998
Subordinated notes	Level 2		113,811		116,321		118,691		112,406
Junior subordinated debentures	Level 2		38,103		30,912		37,993		30,618
Derivatives	Level 2		201,450		201,450		229,270		229,270