Note 8 - FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities	$	14,442	$	—	$	14,442	$	—
Residential mortgage-backed and related securities		56,071		—		56,071		—
Municipal securities		166,693		—		166,693		—
Asset-backed securities		14,285		—		14,285		—
Other securities		39,489		—		39,489		—
Securities trading		22,258		—		—		22,258
Derivatives		183,888		—		183,888		—
Total assets measured at fair value	$	497,126	$	—	$	474,868	$	22,258
Derivatives	$	211,677	$	—	$	211,677	$	—
Total liabilities measured at fair value	$	211,677	$	—	$	211,677	$	—
December 31, 2023:
Securities AFS:
U.S. govt. sponsored agency securities	$	14,973	$	—	$	14,973	$	—
Residential mortgage-backed and related securities		59,196		—		59,196		—
Municipal securities		170,987		—		170,987		—
Asset-backed securities		15,423		—		15,423		—
Other securities		39,076		—		39,076		—
Securities trading		22,369		—		—		22,369
Derivatives		187,341		—		187,341		—
Total assets measured at fair value	$	509,365	$	—	$	486,996	$	22,369
Derivatives	$	215,735	$	—	$	215,735	$	—
Total liabilities measured at fair value	$	215,735	$	—	$	215,735	$	—

			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, 2024:
Loans/leases evaluated individually	$	33,949	$	—	$	—	$	33,949
Loans receivable held for sale in preparation for securitization		274,816		—		—		274,816
OREO		847		—		—		847
Other repossessed assets		1,082		—		—		1,082
	$	310,694	$	—	$	—	$	310,694
December 31, 2023:
Loans/leases evaluated individually	$	33,656	$	—	$	—	$	33,656
OREO		1,455		—		—		1,455
	$	35,111	$	—	$	—	$	35,111

Schedule of assets measured at fair value, valuation techniques

	Quantitative Information about Level Fair Value Measurements
	Fair Value		Fair Value
	March 31,		December 31,
	2024		2023		Valuation Technique	Unobservable Input	Range
	(dollars in thousands)
Loans/leases evaluated individually	$	33,949	$	33,656	Appraisal of collateral	Appraisal adjustments	-10.00	%	to	-30.00	%
Loans receivable held for sale in preparation for securitization		274,816		—	Market prices for similar loans	Market price adjustments			n/a
OREO		847		1,455	Appraisal of collateral	Appraisal adjustments	0.00	%	to	-35.00	%
Other repossessed assets		1,082		—	Average auction prices	Market price adjustments			n/a

Schedule of assets and liabilities measured at fair value

	Fair Value	As of March 31, 2024				As of December 31, 2023
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
		(dollars in thousands)
Cash and due from banks	Level 1	$	80,988	$	80,988	$	97,123	$	97,123
Federal funds sold	Level 2		4,150		4,150		35,450		35,450
Interest-bearing deposits at financial institutions	Level 2		72,870		72,870		104,919		104,919
Investment securities:
HTM	Level 2		718,623		696,170		683,504		680,279
AFS	Level 2		290,980		290,980		299,655		299,655
Trading	Level 3		22,258		22,258		22,369		22,369
Loans/leases receivable, net	Level 3		31,434		33,949		31,163		33,656
Loans/leases receivable, net	Level 2		6,532,432		6,255,402		6,425,053		6,125,433
Derivatives	Level 2		183,888		183,888		187,341		187,341
Deposits:
Nonmaturity deposits	Level 2		5,669,912		5,669,912		5,504,323		5,504,323
Time deposits	Level 2		1,136,863		1,129,488		1,009,682		996,746
Short-term borrowings	Level 2		2,700		2,700		1,500		1,500
FHLB advances	Level 2		205,000		205,962		435,000		437,178
Subordinated notes	Level 2		233,170		239,256		233,064		240,235
Junior subordinated debentures	Level 2		48,763		40,567		48,731		40,397
Derivatives	Level 2		211,677		211,677		215,735		215,735