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Fair Values of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2023
Fair Values of Financial Instruments [Abstract]  
Estimated Recorded Book Balances and Fair Values
The estimated recorded book balances and fair values follow:
Fair Value Using
Recorded
Book
Balance
Fair ValueQuoted
Prices
in Active
Markets
for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Un-
observable
Inputs
(Level 3)
(In thousands)
September 30, 2023
Assets
Cash and due from banks$58,567 $58,567 $58,567 $— $— 
Interest bearing deposits68,894 68,894 68,894 — — 
Securities available for sale684,641 684,641 — 684,641 — 
Securities held to maturity358,899 309,199 — 309,199 — 
Federal Home Loan Bank and Federal      
Reserve Bank Stock16,821 NANANANA
Net loans and loans held for sale3,699,970 3,306,342 — 13,979 3,292,363 
Accrued interest receivable18,229 18,229 90 6,177 11,962 
Derivative financial instruments49,227 49,227 — 49,227 — 
     
Liabilities     
Deposits with no stated maturity (1)$3,771,900 $3,771,900 $3,771,900 $— $— 
Deposits with stated maturity (1)813,712 807,830 — 807,830 — 
Other borrowings50,014 49,539 — 49,539 — 
Subordinated debt39,491 38,883 — 38,883 — 
Subordinated debentures39,711 39,190 — 39,190 — 
Accrued interest payable6,449 6,449 465 5,984 — 
Derivative financial instruments23,183 23,183 — 23,183 — 
     
December 31, 2022     
Assets     
Cash and due from banks$70,180 $70,180 $70,180 $— $— 
Interest bearing deposits4,191 4,191 4,191 — — 
Securities available for sale779,347 779,347 — 779,347 — 
Securities held to maturity374,818 335,418 — 335,418 — 
Federal Home Loan Bank and Federal      
Reserve Bank Stock17,653 NANANANA
Net loans and loans held for sale3,459,802 3,185,518 20,367 26,518 3,138,633 
Accrued interest receivable16,513 16,513 6,503 10,009 
Derivative financial instruments39,747 39,747 — 39,747 — 
Liabilities     
Deposits with no stated maturity (1)$3,798,848 $3,798,848 $3,798,848 $— $— 
Deposits with stated maturity (1)580,221 573,739 — 573,739 — 
Other borrowings86,006 86,006 — 86,006 — 
Subordinated debt39,433 41,058 — 41,058 — 
Subordinated debentures39,660 38,982 — 38,982 — 
Accrued interest payable2,287 2,287 415 1,872 — 
Derivative financial instruments19,127 19,127 — 19,127 — 
(1)
Deposits with no stated maturity include reciprocal deposits with a recorded book balance of $700.312 million and $555.781 million at September 30, 2023 and December 31, 2022, respectively. Deposits with a stated maturity include reciprocal deposits with a recorded book balance of $99.571 million and $46.794 million at September 30, 2023 and December 31, 2022, respectively.