Note 7 - FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2023

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)
March 31, 2023:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities	$	19,320	$	—	$	19,320	$	—
Residential mortgage-backed and related securities		63,104		—		63,104		—
Municipal securities		170,590		—		170,590		—
Asset-backed securities		17,967		—		17,967		—
Other securities		44,496		—		44,496		—
Derivatives		130,350		—		130,350		—
Total assets measured at fair value	$	445,827	$	—	$	445,827	$	—
Derivatives	$	150,401	$	—	$	150,401	$	—
Total liabilities measured at fair value	$	150,401	$	—	$	150,401	$	—
December 31, 2022:
Securities AFS:
U.S. govt. sponsored agency securities	$	16,981	$	—	$	16,981	$	—
Residential mortgage-backed and related securities		66,215		—		66,215		—
Municipal securities		193,178		—		193,178		—
Asset-backed securities		18,728		—		18,728		—
Other securities		45,858		—		45,858		—
Derivatives		177,631		—		177,631		—
Total assets measured at fair value	$	518,591	$	—	$	518,591	$	—
Derivatives	$	200,701	$	—	$	200,701	$	—
Total liabilities measured at fair value	$	200,701	$	—	$	200,701	$	—

			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, 2023:
Loans/leases evaluated individually	$	42,354	$	—	$	—	$	42,354
Loans receivable held for sale		139,224		—		—		139,224
OREO		66		—		—		66
	$	181,644	$	—	$	—	$	181,644
December 31, 2022:
Loans/leases evaluated individually	$	30,765	$	—	$	—	$	30,765
OREO		144		—		—		144
	$	30,909	$	—	$	—	$	30,909

Schedule of assets measured at fair value, valuation techniques

	Quantitative Information about Level Fair Value Measurements
	Fair Value		Fair Value
	March 31,		December 31,
	2023		2022		Valuation Technique	Unobservable Input	Range
	(dollars in thousands)
Loans/leases evaluated individually	$	42,354	$	30,765	Appraisal of collateral	Appraisal adjustments	-10.00	%	to	-30.00	%
Loans receivable held for sale		139,224		—	Market prices for similar loans	Market price adjustments			n/a
OREO		66		144	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, 2023				As of December 31, 2022
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
		(dollars in thousands)
Cash and due from banks	Level 1	$	64,295	$	64,295	$	59,723	$	59,723
Federal funds sold	Level 2		16,365		16,365		56,910		56,910
Interest-bearing deposits at financial institutions	Level 2		237,632		237,632		67,360		67,360
Investment securities:
HTM	Level 2		561,969		528,966		587,142		535,636
AFS	Level 2		315,477		315,477		340,960		340,960
Loans/leases receivable, net	Level 3		178,441		181,578		28,486		30,765
Loans/leases receivable, net	Level 2		5,925,008		5,749,501		6,022,679		5,896,443
Derivatives	Level 2		130,350		130,350		177,631		177,631
Deposits:
Nonmaturity deposits	Level 2		5,288,242		5,288,242		5,199,633		5,199,633
Time deposits	Level 2		1,213,421		1,201,496		784,584		766,294
Short-term borrowings	Level 2		1,100		1,100		129,630		129,630
FHLB advances	Level 2		135,000		138,588		415,000		415,000
Subordinated notes	Level 2		232,746		249,647		232,662		250,613
Junior subordinated debentures	Level 2		48,634		40,368		48,602		41,545
Derivatives	Level 2		150,401		150,401		200,701		200,701