Note 8 - FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities	$	20,101	$	—	$	20,101	$	—
Residential mortgage-backed and related securities		54,708		—		54,708		—
Municipal securities		165,268		—		165,268		—
Asset-backed securities		12,721		—		12,721		—
Other securities		37,414		—		37,414		—
Securities trading		22,362		—		—		22,362
Derivatives		194,354		—		194,354		—
Total assets measured at fair value	$	506,928	$	—	$	484,566	$	22,362
Derivatives	$	221,798	$	—	$	221,798	$	—
Total liabilities measured at fair value	$	221,798	$	—	$	221,798	$	—
December 31, 2023:
Securities AFS:
U.S. govt. sponsored agency securities	$	14,973	$	—	$	14,973	$	—
Residential mortgage-backed and related securities		59,196		—		59,196		—
Municipal securities		170,987		—		170,987		—
Asset-backed securities		15,423		—		15,423		—
Other securities		39,076		—		39,076		—
Securities trading		22,369		—		—		22,369
Derivatives		187,341		—		187,341		—
Total assets measured at fair value	$	509,365	$	—	$	486,996	$	22,369
Derivatives	$	215,735	$	—	$	215,735	$	—
Total liabilities measured at fair value	$	215,735	$	—	$	215,735	$	—

			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, 2024:
Loans/leases evaluated individually	$	33,910	$	—	$	—	$	33,910
Loans receivable held for sale in preparation for securitization		243,193		—		—		243,193
OREO		399		—		—		399
Other repossessed assets		576		—		—		576
	$	278,078	$	—	$	—	$	278,078
December 31, 2023:
Loans/leases evaluated individually	$	33,656	$	—	$	—	$	33,656
OREO		1,455		—		—		1,455
	$	35,111	$	—	$	—	$	35,111

Schedule of assets measured at fair value, valuation techniques

	Quantitative Information about Level Fair Value Measurements
	Fair Value		Fair Value
	June 30,		December 31,
	2024		2023		Valuation Technique	Unobservable Input	Range
	(dollars in thousands)
Loans/leases evaluated individually	$	33,910	$	33,656	Appraisal of collateral	Appraisal adjustments	-10.00	%	to	-30.00	%
Loans receivable held for sale in preparation for securitization		243,193		—	Market prices for similar loans	Market price adjustments			n/a
OREO		399		1,455	Appraisal of collateral	Appraisal adjustments	0.00	%	to	-35.00	%
Other repossessed assets		576		—	Average auction prices	Market price adjustments			n/a

Schedule of assets and liabilities measured at fair value

	Fair Value	As of June 30, 2024				As of December 31, 2023
	Hierarchy	Carrying		Estimated		Carrying		Estimated
	Level	Value		Fair Value		Value		Fair Value
		(dollars in thousands)
Cash and due from banks	Level 1	$	92,173	$	92,173	$	97,123	$	97,123
Federal funds sold	Level 2		8,150		8,150		35,450		35,450
Interest-bearing deposits at financial institutions	Level 2		94,112		94,112		104,919		104,919
Investment securities:
HTM	Level 2		720,625		696,447		683,504		680,279
AFS	Level 2		290,212		290,212		299,655		299,655
Trading	Level 3		22,362		22,362		22,369		22,369
Loans/leases receivable, net	Level 3		31,398		33,910		31,163		33,656
Loans/leases receivable, net	Level 2		6,735,282		6,468,550		6,425,053		6,125,433
Derivatives	Level 2		194,354		194,354		187,341		187,341
Deposits:
Nonmaturity deposits	Level 2		5,688,913		5,688,913		5,504,323		5,504,323
Time deposits	Level 2		1,075,754		1,071,579		1,009,682		996,746
Short-term borrowings	Level 2		1,600		1,600		1,500		1,500
FHLB advances	Level 2		485,000		485,231		435,000		437,178
Subordinated notes	Level 2		233,276		239,136		233,064		240,235
Junior subordinated debentures	Level 2		48,795		40,718		48,731		40,397
Derivatives	Level 2		221,798		221,798		215,735		215,735