Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Values of Financial Instruments

Schedule of carrying amount and estimated fair values of financial instruments

	September 30, 2022
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
Financial assets:
Cash and due from banks	$	64,903	$	64,903	$	64,903	$	-	$	-
Interest earning deposits with financial institutions		51,251		51,251		51,251		-		-
Securities available-for-sale		1,609,759		1,609,759		211,097		1,385,353		13,309
FHLBC and FRBC stock		19,413		19,413		-		19,413		-
Loans held-for-sale		1,297		1,297		-		1,297		-
Net loans		3,820,487		3,694,682		-		-		3,694,682
Mortgage servicing rights		11,461		11,461		-		-		11,461
Interest rate swap agreements		6,602		6,602		-		6,602		-
Interest rate lock commitments and forward contracts		188		188		-		188		-
Interest receivable on securities and loans		20,133		20,133		-		20,133		-
Financial liabilities:
Noninterest bearing deposits	$	2,098,144	$	2,098,144	$	2,098,144	$	-	$	-
Interest bearing deposits		3,183,215		3,166,428		-		3,166,428		-
Securities sold under repurchase agreements		35,497		35,497		-		35,497		-
Other short-term borrowings		25,000		25,000		-		25,000		-
Junior subordinated debentures		25,773		21,650		-		21,650		-
Subordinated debentures		59,275		51,985		-		51,985		-
Senior notes		44,559		44,469		44,469		-		-
Note payable and other borrowings		10,000		9,970		-		9,970		-
Interest rate swap agreements		12,277		12,277		-		12,277		-
Interest payable on deposits and borrowings		2,067		2,067		-		2,067		-

	December 31, 2021
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
Financial assets:
Cash and due from banks	$	38,565	$	38,565	$	38,565	$	-	$	-
Interest earning deposits with financial institutions		713,542		713,542		713,542		-		-
Securities available-for-sale		1,693,632		1,693,632		202,339		1,476,057		15,236
FHLBC and FRBC stock		13,257		13,257		-		13,257		-
Loans held-for-sale		4,737		4,737		-		4,737		-
Net loans		3,376,523		3,407,596		-		-		3,407,596
Mortgage servicing rights		7,097		7,097		-		-		7,097
Interest rate swap agreements		3,494		3,494		-		3,494		-
Interest rate lock commitments and forward contracts		508		508		-		508		-
Interest receivable on securities and loans		13,431		13,431		-		13,431		-
Financial liabilities:
Noninterest bearing deposits	$	2,093,494	$	2,093,494	$	2,093,494	$	-	$	-
Interest bearing deposits		3,372,738		3,375,930		-		3,375,930		-
Securities sold under repurchase agreements		50,377		50,377		-		50,377		-
Junior subordinated debentures		25,773		18,557		-		18,557		-
Subordinated debentures		59,212		60,111		-		60,111		-
Senior notes		44,480		44,480		44,480		-		-
Note payable and other borrowings		19,074		19,411		-		19,411		-
Interest rate swap agreements		6,788		6,788		-		6,788		-
Interest payable on deposits and borrowings		1,706		1,706		-		1,706		-