NOTE 6 - FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of assets measured at fair value

			Fair Value Measurements at Reporting Date Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
	(dollars in thousands)
June 30, 2020:
Securities AFS:
U.S. govt. sponsored agency securities	$	17,472	$	—	$	17,472	$	—
Residential mortgage-backed and related securities		145,672		—		145,672		—
Municipal securities		101,266		—		101,266		—
Asset-backed securities		39,797		—		39,797		—
Other securities		18,700		—		18,700		—
Derivatives		225,164		—		225,164		—
Total assets measured at fair value	$	548,071	$	—	$	548,071	$	—
Derivatives	$	233,589	$	—	$	233,589	$	—
Total liabilities measured at fair value	$	233,589	$	—	$	233,589	$	—
December 31, 2019:
Securities AFS:
U.S. govt. sponsored agency securities	$	20,078	$	—	$	20,078	$	—
Residential mortgage-backed and related securities		120,587		—		120,587		—
Municipal securities		48,257		—		48,257		—
Asset-backed securities		16,887		—		16,887		—
Other securities		4,886		—		4,886		—
Derivatives		87,827		—		87,827		—
Total assets measured at fair value	$	298,522	$	—	$	298,522	$	—
Derivatives	$	88,437	$	—	$	88,437	$	—
Total liabilities measured at fair value	$	88,437	$	—	$	88,437	$	—

			Fair Value Measurements at Reporting Date Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
	Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
June 30, 2020:
Impaired loans/leases	$	5,821	$	—	$	—	$	5,821
OREO		170		—		—		170
	$	5,991	$	—	$	—	$	5,991
December 31, 2019:
Impaired loans/leases	$	3,394	$	—	$	—	$	3,394
OREO		4,459		—		—		4,459
	$	7,853	$	—	$	—	$	7,853

Schedule of assets measured at fair value, valuation techniques

	Quantitative Information about Level Fair Value Measurements
	Fair Value		Fair Value
	June 30,		December 31,
	2020		2019		Valuation Technique	Unobservable Input	Range
	(dollars in thousands)
Impaired loans/leases	$	5,821	$	3,394	Appraisal of collateral	Appraisal adjustments	(10.00)	%	to	(30.00)	%
OREO		170		4,459	Appraisal of collateral	Appraisal adjustments	0.00	%	to	(35.00)	%

Schedule of assets and liabilities measured at fair value

	Fair Value	As of June 30, 2020				As of December 31, 2019
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
		(dollars in thousands)
Cash and due from banks	Level 1	$	88,577	$	88,577	$	76,254	$	76,254
Federal funds sold	Level 2		2,125		2,125		9,800		9,800
Interest-bearing deposits at financial institutions	Level 2		140,775		140,775		147,891		147,891
Investment securities:
HTM	Level 2		425,976		445,068		400,646		426,545
AFS	*		322,907		322,907		210,695		210,695
Loans/leases receivable, net	Level 3		5,390		5,821		3,143		3,394
Loans/leases receivable, net	Level 2		4,074,042		4,049,076		3,651,061		3,606,520
Derivatives	Level 2		225,164		225,164		87,827		87,827
Deposits:
Nonmaturity deposits	Level 2		3,674,337		3,674,337		3,184,726		3,184,726
Time deposits	Level 2		675,438		682,827		726,325		742,444
Short-term borrowings	Level 2		124,818		124,818		13,423		13,423
FHLB advances	Level 2		145,000		146,788		159,300		159,193
Subordinated notes	Level 2		68,516		68,705		68,394		68,563
Junior subordinated debentures	Level 2		37,916		30,458		37,838		30,477
Derivatives	Level 2		233,589		233,589		88,437		88,437