FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2024

FAIR VALUE DISCLOSURES [Abstract]

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

The following table summarizes fair value measurements as of the dates indicated below (dollars in thousands):

	Level 1		Level 2			Level 3		Total
December 31, 2024
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
State and municipal	$	—	$	173,297		$	—	$	173,297
Residential mortgage-backed securities		—		264,096			—		264,096
Commercial mortgage-backed securities		—		40,360			—		40,360
Commercial collateralized mortgage obligations		—		73,483			—		73,483
Asset-backed and other amortizing securities		—		14,581			—		14,581
Other securities		—		11,423			—		11,423
Loans held for sale (mandatory)		—		13,791			—		13,791
Mortgage servicing rights		—		—			26,292		26,292
Asset derivatives		—		15,998			—		15,998
Liability derivatives		—		(12	)		—		(12	)
Assets measured at fair value on a non-recurring basis:
Loans held for investment		—		—			20,566		20,566

	Level 1		Level 2			Level 3		Total
December 31, 2023
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
State and municipal	$	—	$	180,575		$	—	$	180,575
Residential mortgage-backed securities		—		300,704			—		300,704
Commercial mortgage-backed securities		—		41,748			—		41,748
Commercial collateralized mortgage obligations		—		71,930			—		71,930
Asset-backed and other amortizing securities		—		17,040			—		17,040
Other securities		—		10,765			—		10,765
Loans held for sale (mandatory)		—		6,615			—		6,615
Mortgage servicing rights		—		—			26,569		26,569
Asset derivatives		—		17,230			—		17,230
Liability derivatives		—		(432	)		—		(432	)
Assets measured at fair value on a non-recurring basis:
Loans held for investment		—		—			1,482		1,482

Quantitative Information about Recurring ad Non-Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31 (dollars in thousands):

	Fair Value		Valuation Techniques	Unobservable Inputs	Range of Discounts
December 31, 2024
Non-recurring
Loans held for investment	$	20,566	Third party appraisals or inspections	Collateral discounts and selling costs		20	%
Recurring:
Mortgage servicing rights		26,292	Discounted cash flows	Constant prepayment rate		7.16	%
				Discount rate		10.17	%
December 31, 2023
Non-recurring
Loans held for investment	$	1,482	Third party appraisals or inspections	Collateral discounts and selling costs		20%-100	%
Recurring:
Mortgage servicing rights		26,569	Discounted cash flows	Constant prepayment rate		7.46	%
				Discount rate		10.66	%

Estimated Fair Values, and Related Carrying Amounts of Financial Instruments

The estimated fair values, and related carrying amounts, of the Company’s financial instruments that are not previously disclosed in the recurring fair values section are as follows as of December 31 (dollars in thousands):

	Carrying Amount		Level 1		Level 2		Level 3		Total
December 31, 2024
Financial assets:
Cash and cash equivalents	$	359,082	$	359,082	$	—	$	—	$	359,082
Loans held for investment, net		3,011,817		—		—		2,937,678		2,937,678
Loans held for sale (best efforts)		6,751		—		6,875		—		6,875
Accrued interest receivable		21,687		—		21,687		—		21,687
Financial liabilities:
Deposits		3,620,876		—		3,621,106		—		3,621,106
Accrued interest payable		6,108		—		6,108		—		6,108
Junior subordinated deferrable interest debentures		46,393		—		34,285		—		34,285
Subordinated debt		63,961		—		60,969		—		60,969

	Carrying Amount		Level 1		Level 2		Level 3		Total
December 31, 2023
Financial assets:
Cash and cash equivalents	$	330,158	$	330,158	$	—	$	—	$	330,158
Loans held for investment, net		2,971,797		—		—		2,848,536		2,848,536
Loans held for sale (best efforts)		7,884		—		7,977		—		7,977
Accrued interest receivable		20,881		—		20,881		—		20,881
Financial liabilities:
Deposits		3,626,153		—		3,625,321		—		3,625,321
Accrued interest payable		5,057		—		5,057		—		5,057
Junior subordinated deferrable interest debentures		46,393		—		33,098		—		33,098
Subordinated debt		63,775		—		57,497		—		57,497