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Note 9 - FAIR VALUE (Tables)
9 Months Ended
Sep. 30, 2022
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, 2022:

 

  

 

  

 

  

 

  

Securities AFS:

 

  

 

  

 

  

 

  

U.S. treasuries and govt. sponsored agency securities

$

20,527

$

$

20,527

$

Residential mortgage-backed and related securities

 

68,844

 

 

68,844

 

Municipal securities

 

185,343

 

 

185,343

 

Asset-backed securities

19,630

19,630

Other securities

 

45,393

 

 

45,393

 

Derivatives

 

185,037

 

 

185,037

 

Total assets measured at fair value

$

524,774

$

$

524,774

$

 

  

 

  

 

  

 

  

Derivatives

$

209,479

$

$

209,479

$

Total liabilities measured at fair value

$

209,479

$

$

209,479

$

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

December 31, 2021:

 

  

 

  

 

  

 

  

Securities AFS:

 

  

 

  

 

  

 

  

U.S. govt. sponsored agency securities

$

23,328

$

$

23,328

$

Residential mortgage-backed and related securities

 

94,323

 

 

94,323

 

Municipal securities

 

168,266

 

 

168,266

 

Asset-backed securities

27,124

27,124

Other securities

 

24,789

 

 

24,789

 

Derivatives

 

222,220

 

 

222,220

 

Total assets measured at fair value

$

560,050

$

$

560,050

$

 

  

 

  

 

  

 

  

Derivatives

$

225,135

$

$

225,135

$

Total liabilities measured at fair value

$

225,135

$

$

225,135

$

    

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, 2022:

 

  

 

  

 

  

 

  

Loans/leases evaluated individually

$

29,665

$

$

$

29,665

OREO

 

191

 

 

 

191

$

29,856

$

$

$

29,856

December 31, 2021:

 

  

 

  

 

  

 

  

Loans/leases evaluated individually

$

6,618

$

$

$

6,618

Schedule of assets measured at fair value, valuation techniques

Quantitative Information about Level Fair Value Measurements

 

Fair Value

Fair Value

 

September 30, 

December 31, 

 

    

2022

    

2021

    

Valuation Technique

    

Unobservable Input

    

Range

(dollars in thousands)

Loans/leases evaluated individually

$

29,665

$

6,618

 

Appraisal of collateral

 

Appraisal adjustments

 

-10.00

%  

to

 

-30.00

%

OREO

 

191

 

 

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, 2022

As of December 31, 2021

Hierarchy

Carrying

Estimated

Carrying

Estimated

    

Level

    

Value

    

Fair Value

    

Value

    

Fair Value

(dollars in thousands)

Cash and due from banks

 

Level 1

$

86,282

$

86,282

$

37,490

$

37,490

Federal funds sold

 

Level 2

 

28,210

 

28,210

 

12,370

 

12,370

Interest-bearing deposits at financial institutions

 

Level 2

 

42,833

 

42,833

 

75,292

 

75,292

Investment securities:

 

  

 

 

 

 

HTM

 

Level 2

 

539,713

 

511,447

 

472,385

 

522,297

AFS

 

Level 2

 

339,737

 

339,737

 

337,830

 

337,830

Loans/leases receivable, net

 

Level 3

 

27,468

 

29,665

 

6,128

 

6,618

Loans/leases receivable, net

 

Level 2

 

5,890,653

 

5,838,442

 

4,595,283

 

4,478,899

Derivatives

 

Level 2

 

185,037

 

185,037

 

222,220

 

222,220

Deposits:

 

  

 

 

 

 

Nonmaturity deposits

 

Level 2

 

5,247,595

 

5,247,595

 

4,501,424

 

4,501,424

Time deposits

 

Level 2

 

693,440

 

674,507

 

421,348

 

419,453

Short-term borrowings

 

Level 2

 

85,180

 

85,180

 

3,800

 

3,800

FHLB advances

 

Level 2

 

335,000

 

334,732

 

15,000

 

15,000

Subordinated notes

Level 2

232,743

251,677

113,850

116,203

Junior subordinated debentures

 

Level 2

 

48,568

 

42,094

 

38,155

 

31,072

Derivatives

 

Level 2

 

209,479

 

209,479

 

225,135

 

225,135