FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2021

FAIR VALUE DISCLOSURES [Abstract]

Assets (Liabilities) Measured at Fair Value on Recurring and Non-Recurring Basis

The following table summarizes fair value measurements:

	Level 1		Level 2			Level 3		Total
June 30, 2021
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	—		$	—	$	—
State and municipal		—		278,815			—		278,815
Mortgage-backed securities		—		347,575			—		347,575
Collateralized mortgage obligations		—		107,920			—		107,920
Asset-backed and other amortizing securities		—		30,891			—		30,891
Other securities		—		12,412			—		12,412
Loans held for sale (mandatory)		—		51,486			—		51,486
Mortgage servicing rights		—		—			15,977		15,977
Asset derivatives		—		7,051			—		7,051
Liability derivatives		—		(1,290	)		—		(1,290	)
Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			9,775		9,775
Other real estate owned		—		—			1,146		1,146
December 31, 2020
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	4,753		$	—	$	4,753
State and municipal		—		272,607			—		272,607
Mortgage-backed securities		—		373,362			—		373,362
Collateralized mortgage obligations		—		106,715			—		106,715
Asset-backed and other amortizing securities		—		33,572			—		33,572
Other securities		—		12,078			—		12,078
Loans held for sale (mandatory)		—		80,174			—		80,174
Mortgage servicing rights		—		—			9,049		9,049
Asset derivatives		—		6,734			—		6,734
Liability derivatives		—		(4,357	)		—		(4,357	)
Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			11,926		11,926
Other real estate owned		—		—			1,353		1,353

Quantitative Information about Non-Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about non-recurring Level 3 fair value measurements:

	Fair Value		Valuation Techniques		Unobservable Inputs		Range of Discounts
June 30, 2021				12		12
Impaired loans	$	9,775	Third party appraisals or inspections		Collateral discounts and selling costs			0%-100	%
Other real estate owned		1,146	Third party appraisals or inspections		Collateral discounts and selling costs			15%-66	%
Mortgage servicing rights		15,977	Discounted cash flows		Conditional prepayment rate			5.69	%
					Discount rate			9.15	%
December 31, 2020
Impaired loans	$	11,926	Third party appraisals or inspections		Collateral discounts and selling costs			0%-100	%
Other real estate owned		1,353	Third party appraisals or inspections		Collateral discounts and selling costs			15%-66	%
Mortgage servicing rights		9,049	Discounted cash flows		Conditional prepayment rate			4.48	%
					Discount rate			9.72	%

Estimated Fair Values, and Related Carrying Amounts of Financial Instruments

The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows:

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
June 30, 2021
Financial assets:
Cash and cash equivalents	$	383,949	$	383,949	$	—	$	—	$	383,949
Loans, net		2,260,499		—		—		2,305,203		2,305,203
Accrued interest receivable		11,981		—		11,981		—		11,981
Bank-owned life insurance		71,631		—		71,361		—		71,361
Financial liabilities:
Deposits	$	3,158,495	$	2,931,301	$	229,785	$	—	$	3,161,086
Accrued interest payable		1,951		—		1,951		—		1,951
Notes payable & other borrowings		—		—		—		—		—
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,682		—		77,846		—		77,846

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
December 31, 2020
Financial assets:
Cash and cash equivalents	$	300,307	$	300,307	$	—	$	—	$	300,307
Loans, net		2,176,030		—		—		2,179,573		2,179,573
Accrued interest receivable		15,233		—		15,233		—		15,233
Bank-owned life insurance		70,731		—		70,731		—		70,731
Financial liabilities:
Deposits	$	2,974,351	$	2,649,830	$	329,609	$	—	$	2,979,439
Accrued interest payable		2,113		—		2,113		—		2,113
Notes payable & other borrowings		75,000		—		75,000		—		75,000
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,589		—		76,889		—		76,889