Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables’ present information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated.

December 31, 2021			Fair Value Measurements
(Dollars in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
Financial Assets:
Cash and cash equivalents	$	715,460	$	715,460	$	-	$	-	$	715,460
Investment securities available-for-sale		270,454		10,214		260,240		-		270,454
Investment securities held-to-maturity		737,052		-		681,588		44,446		726,034
Non-marketable securities		15,549		-		-		15,549		15,549
Loans and leases, net		3,176,170		-		-		3,179,857		3,179,857
Bank-owned life insurance		71,411		71,411		-		-		71,411
Financial Liabilities:
Total deposits	$	4,640,152	$	4,247,666	$	-	$	391,732	$	4,639,398
Subordinated debentures		10,310		-		6,890		-		6,890

December 31, 2020			Fair Value Measurements
(Dollars in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
Financial Assets:
Cash and cash equivalents	$	383,837	$	383,837	$	-	$	-	$	383,837
Investment securities available-for-sale		807,732		15,470		792,262		-		807,732
Investment securities held-to-maturity		68,933		-		26,262		43,787		70,049
Non-marketable securities		12,693		-		-		12,693		12,693
Loans and leases, net		3,040,730		-		-		3,045,911		3,045,911
Bank-owned life insurance		69,235		69,235		-		-		69,235
Financial Liabilities:
Total deposits	$	4,060,267	$	3,638,400	$	-	$	422,840	$	4,061,240
Subordinated debentures		10,310		-		6,888		-		6,888

Assets Measured at Fair Value on a Recurring and Non-recurring Basis

The following tables present information about the Bank’s assets and liabilities measured at fair value on a recurring and non-recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value for the periods indicated.

December 31, 2021			Fair Value Measurements
(Dollars in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
Fair valued on a recurring basis:
Investment securities available-for-sale
U.S. Treasury notes	$	10,089	$	10,089	$	-	$	-	$	10,089
U.S. Government-sponsored securities		6,374		-		6,374		-		6,374
Mortgage-backed securities		251,120		-		251,120		-		251,120
Collateralized Mortgage Obligations		2,436		-		2,436		-		2,436
Other		435		125		310		-		435
Fair valued on a non-recurring basis:
Individually evaluated loans	$	2,562	$	-	$	-	$	2,562	$	2,562
Other Real Estate		873		-		-		873		873

December 31, 2020			Fair Value Measurements
(Dollars in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
Fair valued on a recurring basis:
Investment securities available-for-sale
U.S. Treasury notes	$	15,288	$	15,288	$	-	$	-	$	15,288
U.S. Government-sponsored securities		8,160		-		8,160		-		8,160
Mortgage-backed securities		732,720		-		732,720		-		732,720
Collateralized Mortgage Obligations		5,153		-		5,153		-		5,153
Corporate securities		45,919		-		45,919		-		45,919
Other		492		182		310		-		492
Fair valued on a non-recurring basis:
Individually evaluated loans	$	3,269	$	-	$	-	$	3,269	$	3,269
Other Real Estate		873		-		-		873		873