XML 61 R50.htm IDEA: XBRL DOCUMENT

Note 23 - Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

		*September 30, 2024*
(dollars in thousands)		*Level 1*				*Level 2*				*Level 3*				*Total*
Trading		$	2,708			$	—			$	—			$	2,708
Available-for-sale
U.S. treasury and government agencies			—				739				—				739
Mortgage backed securities
Residential agency			—				414,388				—				414,388
Commercial			—				1,401				—				1,401
Asset backed securities			—				20				—				20
Corporate bonds			—				49,455				—				49,455
Total available-for-sale investment securities		$	—			$	466,003			$	—			$	466,003
Other assets
Derivatives		$	—			$	12,177			$	—			$	12,177
Other liabilities
Derivatives		$	—			$	13,329			$	—			$	13,329

		*December 31, 2023*
(dollars in thousands)		*Level 1*				*Level 2*				*Level 3*				*Total*
Available-for-sale
U.S. treasury and government agencies		$	—			$	1,120			$	—			$	1,120
Mortgage backed securities
Residential agency			—				435,594				—				435,594
Commercial			—				1,353				—				1,353
Asset backed securities			—				25				—				25
Corporate bonds			—				48,644				—				48,644
Total available-for-sale investment securities		$	—			$	486,736			$	—			$	486,736
Other assets
Derivatives		$	—			$	8,512			$	—			$	8,512
Other liabilities
Derivatives		$	—			$	9,180			$	—			$	9,180

Fair Value Measurements, Nonrecurring [Table Text Block]

		*September 30, 2024*
(dollars in thousands)		*Level 1*				*Level 2*				*Level 3*				*Total*
Collateral dependent loans		$	—			$	—			$	28,930			$	28,930
Servicing rights			—				—				1,874				1,874

		December 31, 2023
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Collateral dependent loans		$	—			$	—			$	3,998			$	3,998
Foreclosed assets			—				—				32				32
Servicing rights			—				—				2,062				2,062

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

				*September 30, 2024*
(dollars in thousands)												*Weighted*
Asset Type	*Valuation Technique*	*Unobservable Input*		*Fair Value*				*Range*				*Average*
Individually evaluated	Appraisal value	Property specific adjustment		$	28,930				10.0	%			10.0	%
Servicing rights	Discounted cash flows	Prepayment speed assumptions			1,874				100 - 847				169
		Discount rate							10.5	%			10.5	%

				*December 31, 2023*
(dollars in thousands)												*Weighted*
Asset Type	*Valuation Technique*	*Unobservable Input*		*Fair Value*				*Range*				*Average*
Individually evaluated	Appraisal value	Property specific adjustment		$	3,998				10.0	%			10.0	%
Foreclosed assets	Appraisal value	Property specific adjustment ⁽¹⁾			32				N/A				N/A
Servicing rights	Discounted cash flows	Prepayment speed assumptions			2,062				85 - 151				104
		Discount rate							11.1	%			11.1	%

Fair Value, by Balance Sheet Grouping [Table Text Block]

		*September 30, 2024*
		*Carrying*				*Estimated Fair Value*
(dollars in thousands)		*Amount*				*Level 1*				*Level 2*				*Level 3*				*Total*
Financial Assets
Cash and cash equivalents		$	65,975			$	65,975			$	—			$	—			$	65,975
Investment securities held-to-maturity			281,913				—				249,862				—				249,862
Loans, net			2,993,201				—				—				2,864,072				2,864,072
Accrued interest receivable			16,469				16,469				—				—				16,469
Bank-owned life insurance			35,793				—				35,793				—				35,793
Financial Liabilities
Noninterest-bearing deposits		$	657,547			$	—			$	657,547			$	—			$	657,547
Interest-bearing deposits			2,177,556				—				2,177,556				—				2,177,556
Time deposits			488,447				—				487,291				—				487,291
Short-term borrowings			244,700				244,700				—				—				244,700
Long-term debt			59,041				—				58,210				—				58,210
Accrued interest payable			7,636				7,636				—				—				7,636

		December 31, 2023
		Carrying				Estimated Fair Value
(dollars in thousands)		Amount				Level 1				Level 2				Level 3				Total
Financial Assets
Cash and cash equivalents		$	129,893			$	129,893			$	—			$	—			$	129,893
Investment securities held-to-maturity			299,728				—				258,617				—				258,617
Loans, net			2,723,740				—				—				2,590,535				2,590,535
Accrued interest receivable			15,700				15,700				—				—				15,700
Bank-owned life insurance			33,236				—				33,236				—				33,236
Financial Liabilities
Noninterest-bearing deposits		$	728,082			$	—			$	728,082			$	—			$	728,082
Interest-bearing deposits			1,955,967				—				1,955,967				—				1,955,967
Time deposits			411,562				—				408,910				—				408,910
Short-term borrowings			314,170				314,170				—				—				314,170
Long-term debt			58,956				—				57,437				—				57,437
Accrued interest payable			6,826				6,826				—				—				6,826