Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Values of Financial Instruments

Schedule of carrying amount and estimated fair values of financial instruments

	December 31, 2022
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
Financial assets:
Cash and due from banks	$	56,632	$	56,632	$	56,632	$	-	$	-
Interest earning deposits with financial institutions		58,545		58,545		58,545		-		-
Securities available-for-sale		1,539,359		1,539,359		212,129		1,291,219		36,011
FHLBC and FRBC stock		20,530		20,530		-		20,530		-
Loans held-for-sale		491		491		-		491		-
Net loans		3,820,129		3,681,387		-		-		3,681,387
Mortgage servicing rights		11,189		11,189		-		-		11,189
Interest rate swap agreements		6,391		6,391		-		6,391		-
Interest rate lock commitments and forward contracts		76		76		-		76		-
Interest receivable on securities and loans		22,661		22,661		-		22,661		-
Financial liabilities:
Noninterest bearing deposits	$	2,051,702	$	2,051,702	$	2,051,702	$	-	$	-
Interest bearing deposits		3,059,021		3,042,740		-		3,042,740		-
Securities sold under repurchase agreements		32,156		32,156		-		32,156		-
Other short-term borrowings		90,000		90,000		-		90,000		-
Junior subordinated debentures		25,773		21,907		-		21,907		-
Subordinated debentures		59,297		52,322		-		52,322		-
Senior notes		44,585		44,248		44,248		-		-
Note payable and other borrowings		9,000		8,984		-		8,984		-
Interest rate swap agreements		12,264		12,264		-		12,264		-
Interest payable on deposits and borrowings		1,657		1,657		-		1,657		-

	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	$	2,087,649	$	2,087,649	$	2,087,649	$	-	$	-
Interest bearing deposits		3,378,583		3,375,930		-		3,375,930		-
Securities sold under repurchase agreements		50,337		50,337		-		50,337		-
Other short-term borrowings		-		-		-		-		-
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		-