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Fair Value Measurement and Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule Of Financial Assets (Liabilities) Measured At Fair Value On a Recurring Basis | The following tables present financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023:
|  | Assets and Liabilities Measured at Fair Value on a Recurring Basis as of September 30, 2024
($ in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
AFS debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 641,573 |  |  | $ | — |  |  | $ | — |  |  | $ | 641,573 |
U.S. government agency and U.S. government-sponsored enterprise debt securities |  | — |  |  | 272,448 |  |  | — |  |  | 272,448 |
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (1): |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | — |  |  | 444,877 |  |  | — |  |  | 444,877 |
Residential mortgage-backed securities |  | — |  |  | 6,867,924 |  |  | — |  |  | 6,867,924 |
Municipal securities |  | — |  |  | 260,298 |  |  | — |  |  | 260,298 |
Non-agency mortgage-backed securities: |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | — |  |  | 316,513 |  |  | — |  |  | 316,513 |
Residential mortgage-backed securities |  | — |  |  | 479,327 |  |  | — |  |  | 479,327 |
Corporate debt securities |  | — |  |  | 531,819 |  |  | — |  |  | 531,819 |
Foreign government bonds |  | — |  |  | 238,869 |  |  | — |  |  | 238,869 |
Asset-backed securities |  | — |  |  | 35,735 |  |  | — |  |  | 35,735 |
Collateralized loan obligations (“CLOs”) |  | — |  |  | 44,494 |  |  | — |  |  | 44,494 |
Total AFS debt securities |  | $ | 641,573 |  |  | $ | 9,492,304 |  |  | $ | — |  |  | $ | 10,133,877 |
Affordable housing partnership, tax credit and CRA investments, net: |  |  |  |  |  |  |  |
Equity securities |  | $ | 21,345 |  |  | $ | 4,244 |  |  | $ | — |  |  | $ | 25,589 |
Total affordable housing partnership, tax credit and CRA investments, net |  | $ | 21,345 |  |  | $ | 4,244 |  |  | $ | — |  |  | $ | 25,589 |
Other assets: |  |  |  |  |  |  |  |
Equity securities (2) |  | $ | 7,852 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,852 |
Total other assets |  | $ | 7,852 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,852 |
Derivative assets: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 391,410 |  |  | $ | — |  |  | $ | 391,410 |
Foreign exchange contracts |  | — |  |  | 33,966 |  |  | — |  |  | 33,966 |
Equity contracts |  | — |  |  | — |  |  | 232 |  |  | 232 |
Commodity contracts |  | — |  |  | 64,980 |  |  | — |  |  | 64,980 |
Gross derivative assets |  | $ | — |  |  | $ | 490,356 |  |  | $ | 232 |  |  | $ | 490,588 |
Netting adjustments (3) |  | $ | — |  |  | $ | (345,608) |  |  | $ | — |  |  | $ | (345,608) |
Net derivative assets |  | $ | — |  |  | $ | 144,748 |  |  | $ | 232 |  |  | $ | 144,980 |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 327,038 |  |  | $ | — |  |  | $ | 327,038 |
Foreign exchange contracts |  | — |  |  | 33,651 |  |  | — |  |  | 33,651 |
Equity contracts (4) |  | — |  |  | — |  |  | 15,119 |  |  | 15,119 |
Credit contracts |  | — |  |  | 32 |  |  | — |  |  | 32 |
Commodity contracts |  | — |  |  | 90,002 |  |  | — |  |  | 90,002 |
Gross derivative liabilities |  | $ | — |  |  | $ | 450,723 |  |  | $ | 15,119 |  |  | $ | 465,842 |
Netting adjustments (3) |  | $ | — |  |  | $ | (95,347) |  |  | $ | — |  |  | $ | (95,347) |
Net derivative liabilities |  | $ | — |  |  | $ | 355,376 |  |  | $ | 15,119 |  |  | $ | 370,495 |
Refer to footnotes on the following page.
|  | Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2023
($ in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
AFS debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 1,060,375 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,060,375 |
U.S. government agency and U.S. government-sponsored enterprise debt securities |  | — |  |  | 364,446 |  |  | — |  |  | 364,446 |
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (1): |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | — |  |  | 468,259 |  |  | — |  |  | 468,259 |
Residential mortgage-backed securities |  | — |  |  | 1,727,594 |  |  | — |  |  | 1,727,594 |
Municipal securities |  | — |  |  | 261,016 |  |  | — |  |  | 261,016 |
Non-agency mortgage-backed securities: |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | — |  |  | 367,516 |  |  | — |  |  | 367,516 |
Residential mortgage-backed securities |  | — |  |  | 553,671 |  |  | — |  |  | 553,671 |
Corporate debt securities |  | — |  |  | 502,425 |  |  | — |  |  | 502,425 |
Foreign government bonds |  | — |  |  | 227,874 |  |  | — |  |  | 227,874 |
Asset-backed securities |  | — |  |  | 42,300 |  |  | — |  |  | 42,300 |
CLOs |  | — |  |  | 612,861 |  |  | — |  |  | 612,861 |
Total AFS debt securities |  | $ | 1,060,375 |  |  | $ | 5,127,962 |  |  | $ | — |  |  | $ | 6,188,337 |
Affordable housing partnership, tax credit and CRA investments, net: |  |  |  |  |  |  |  |
Equity securities |  | $ | 20,509 |  |  | $ | 4,150 |  |  | $ | — |  |  | $ | 24,659 |
Total affordable housing partnership, tax credit and CRA investments, net |  | $ | 20,509 |  |  | $ | 4,150 |  |  | $ | — |  |  | $ | 24,659 |
Derivative assets: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 473,907 |  |  | $ | — |  |  | $ | 473,907 |
Foreign exchange contracts |  | — |  |  | 57,072 |  |  | — |  |  | 57,072 |
Credit contracts |  | — |  |  | 1 |  |  | — |  |  | 1 |
Equity contracts |  | — |  |  | — |  |  | 336 |  |  | 336 |
Commodity contracts |  | — |  |  | 79,604 |  |  | — |  |  | 79,604 |
Gross derivative assets |  | $ | — |  |  | $ | 610,584 |  |  | $ | 336 |  |  | $ | 610,920 |
Netting adjustments (3) |  | $ | — |  |  | $ | (312,792) |  |  | $ | — |  |  | $ | (312,792) |
Net derivative assets |  | $ | — |  |  | $ | 297,792 |  |  | $ | 336 |  |  | $ | 298,128 |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | 433,936 |  |  | $ | — |  |  | $ | 433,936 |
Foreign exchange contracts |  | — |  |  | 42,564 |  |  | — |  |  | 42,564 |
Equity contracts (4) |  | — |  |  | — |  |  | 15,119 |  |  | 15,119 |
Credit contracts |  | — |  |  | 25 |  |  | — |  |  | 25 |
Commodity contracts |  | — |  |  | 121,670 |  |  | — |  |  | 121,670 |
Gross derivative liabilities |  | $ | — |  |  | $ | 598,195 |  |  | $ | 15,119 |  |  | $ | 613,314 |
Netting adjustments (3) |  | $ | — |  |  | $ | (76,170) |  |  | $ | — |  |  | $ | (76,170) |
Net derivative liabilities |  | $ | — |  |  | $ | 522,025 |  |  | $ | 15,119 |  |  | $ | 537,144 |
(1)Includes Government National Mortgage Association (“GNMA”) AFS debt securities totaling $6.3 billion and $1.2 billion of fair value as of September 30, 2024 and December 31, 2023, respectively. (2)Consists of exchange-traded equity securities. For additional information, see Assets and Liabilities Measured at Fair Value on a Recurring Basis — Equity Securities in Note 3 — Fair Value Measurement and Fair Value of Financial Instruments in this Form 10-Q. (3)Represents the balance sheet netting of derivative assets and liabilities and related cash collateral under master netting agreements or similar agreements. See Note 6 — Derivatives to the Consolidated Financial Statements in this Form 10-Q for additional information. (4)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in its investment in Rayliant.
Schedule Of Reconciliation Of The Beginning And Ending Balances Of Equity Contracts Measured At Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) | The following table provides a reconciliation of the beginning and ending balances of these equity contracts for the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |  |  |
($ in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 240 |  |  | $ | 263 |  |  | $ | 336 |  |  | $ | 323 |  |  |  |  |  |  |  |  |
Total losses included in earnings (1) |  | (8) |  |  | (3) |  |  | (104) |  |  | (63) |  |  |  |  |  |  |  |  |
Issuances |  | — |  |  | 92 |  |  | — |  |  | 92 |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 232 |  |  | $ | 352 |  |  | $ | 232 |  |  | $ | 352 |  |  |  |  |  |  |  |  |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity contracts (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 15,119 |  |  | $ | — |  |  | $ | 15,119 |  |  | $ | — |  |  |  |  |  |  |  |  |
Issuances |  | — |  |  | 15,119 |  |  | — |  |  | 15,119 |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 15,119 |  |  | $ | 15,119 |  |  | $ | 15,119 |  |  | $ | 15,119 |  |  |  |  |  |  |  |  |
(1)Includes unrealized losses recorded in Lending fees on the Consolidated Statement of Income. (2)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in its investment in Rayliant.
Schedule Of Quantitative Information About Significant Unobservable Inputs Used In The Valuation Of Level 3 Fair Value Measurements | The following table presents quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements as of September 30, 2024 and December 31, 2023. The significant unobservable inputs presented in the table below are those that the Company considers significant to the fair value of the Level 3 assets. The Company considers unobservable inputs to be significant if, by their exclusion, the fair value of the Level 3 assets would be impacted by a predetermined percentage change.
($ in thousands) |  | Fair Value Measurements (Level 3) |  | Valuation Technique |  | Unobservable Inputs |  | Range of Inputs |  | Weighted-Average of Inputs |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |
Equity contracts |  | $ | 232 |  |  | Black-Scholes option pricing model |  | Equity volatility |  | 36% — 53% |  | 47 | % | (1)
|  |  |  |  |  | Liquidity discount |  | 47% |  | 47 | % |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |
Equity contracts (2) |  | $ | 15,119 |  |  | Internal model |  | Payout % designated based on operating revenue and operating EBITDA of investee |  | 84% |  | 84 | % |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |
Equity contracts |  | $ | 336 |  |  | Black-Scholes option pricing model |  | Equity volatility |  | 37% — 48% |  | 45 | % | (1)
|  |  |  |  |  | Liquidity discount |  | 47% |  | 47 | % |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |
Equity contracts (2) |  | $ | 15,119 |  |  | Internal model |  | Payout % designated based on operating revenue and operating EBITDA of investee |  | 84% |  | 84 | % |
(1)Weighted-average of inputs is calculated based on the fair value of equity contracts as of both September 30, 2024 and December 31, 2023. (2)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in its investment in Rayliant. The following table presents the quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements that are measured on a nonrecurring basis as of September 30, 2024 and December 31, 2023:
($ in thousands) |  | Fair Value Measurements (Level 3) |  | Valuation Techniques |  | Unobservable Inputs |  | Range of Inputs |  | Weighted-Average of Inputs |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Loans held-for-investment |  | $ | 6,484 |  |  | Fair value of collateral |  | Discount |  | 20% — 55% |  | 45 | % | (1)
|  | $ | 8,099 |  |  | Fair value of collateral |  | Contract value |  | NM |  | NM |
|  | $ | 43,543 |  |  | Fair value of property |  | Selling cost |  | 8% — 20% |  | 10 | % | (1)
OREO |  | $ | 8,565 |  |  | Fair value of property |  | Selling cost |  | 8% |  | 8 | % |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Loans held-for-investment |  | $ | 16,328 |  |  | Fair value of collateral |  | Discount |  | 15% — 75% |  | 45 | % | (1)
|  | $ | 3,009 |  |  | Fair value of collateral |  | Contract value |  | NM |  | NM |
|  | $ | 26,555 |  |  | Fair value of property |  | Selling cost |  | 8% |  | 8 | % |
Affordable housing partnership, tax credit and CRA investments, net |  | $ | 868 |  |  | Individual analysis of each investment |  | Expected future tax benefits and distributions |  | NM |  | NM |
NM — Not meaningful. (1)Weighted-average of inputs is based on the relative fair value of the respective assets as of September 30, 2024 and December 31, 2023.
Schedule Of Carrying Amounts Of Assets That Were Still Held And Had Fair Value Adjustments Measured On a Nonrecurring Basis | The following tables present the carrying amounts of assets that were still held and had fair value adjustments measured on a nonrecurring basis as of September 30, 2024 and December 31, 2023:
|  | Assets Measured at Fair Value on a Nonrecurring Basis as of September 30, 2024
($ in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value Measurements
Loans held-for-investment: |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |
Commercial and industrial (“C&I”) |  | $ | — |  |  | $ | — |  |  | $ | 40,767 |  |  | $ | 40,767 |
Commercial real estate (“CRE”): |  |  |  |  |  |  |  |
CRE |  | — |  |  | — |  |  | 1,773 |  |  | 1,773 |
Multifamily residential |  | — |  |  | — |  |  | 4,161 |  |  | 4,161 |
Construction and land |  | — |  |  | — |  |  | 11,316 |  |  | 11,316 |
Total commercial |  | — |  |  | — |  |  | 58,017 |  |  | 58,017 |
Consumer: |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |
Single-family residential |  | — |  |  | — |  |  | 109 |  |  | 109 |
Total consumer |  | — |  |  | — |  |  | 109 |  |  | 109 |
Total loans held-for-investment |  | $ | — |  |  | $ | — |  |  | $ | 58,126 |  |  | $ | 58,126 |
OREO (1) |  | $ | — |  |  | $ | — |  |  | $ | 8,565 |  |  | $ | 8,565 |
(1)Represents the carrying value of OREO property that was written down subsequent to its initial classification as OREO and is included in Other assets on the Consolidated Balance Sheet.
|  | Assets Measured at Fair Value on a Nonrecurring Basis as of December 31, 2023
($ in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value Measurements
Loans held-for-investment: |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |
C&I |  | $ | — |  |  | $ | — |  |  | $ | 22,035 |  |  | $ | 22,035 |
CRE: |  |  |  |  |  |  |  |
CRE |  | — |  |  | — |  |  | 22,653 |  |  | 22,653 |
Total commercial |  | — |  |  | — |  |  | 44,688 |  |  | 44,688 |
Consumer: |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |
Home equity lines of credit (“HELOCs”) |  | — |  |  | — |  |  | 1,204 |  |  | 1,204 |
Total consumer |  | — |  |  | — |  |  | 1,204 |  |  | 1,204 |
Total loans held-for-investment |  | $ | — |  |  | $ | — |  |  | $ | 45,892 |  |  | $ | 45,892 |
Affordable housing partnership, tax credit and CRA investments, net |  | $ | — |  |  | $ | — |  |  | $ | 868 |  |  | $ | 868 |
Schedule Of Increase (Decrease) In Fair Value Of Assets For Which a Fair Value Adjustment Was Recognized, Nonrecurring Basis | The following table presents the change in the fair value of certain assets held at the end of the respective reporting periods, for which a nonrecurring fair value adjustment was recognized for the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |  |  |
($ in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |  |  |  |  |
Loans held-for-investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | (266) |  |  | $ | 366 |  |  | $ | (16,025) |  |  | $ | (4,437) |  |  |  |  |  |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 89 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Multifamily residential |  | (49) |  |  | — |  |  | (49) |  |  | — |  |  |  |  |  |  |  |  |
Construction and land |  | (145) |  |  | (10,413) |  |  | (2,289) |  |  | (10,413) |  |  |  |  |  |  |  |  |
Total CRE |  | (105) |  |  | (10,413) |  |  | (2,338) |  |  | (10,413) |  |  |  |  |  |  |  |  |
Total commercial |  | (371) |  |  | (10,047) |  |  | (18,363) |  |  | (14,850) |  |  |  |  |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 10 |  |  | — |  |  | (1,396) |  |  | — |  |  |  |  |  |  |  |  |
HELOCs |  | — |  |  | (41) |  |  | — |  |  | (41) |  |  |  |  |  |  |  |  |
Total consumer |  | 10 |  |  | (41) |  |  | (1,396) |  |  | (41) |  |  |  |  |  |  |  |  |
Total loans held-for-investment |  | $ | (361) |  |  | $ | (10,088) |  |  | $ | (19,759) |  |  | $ | (14,891) |  |  |  |  |  |  |  |  |
Affordable housing partnership, tax credit and CRA investments, net |  | $ | — |  |  | $ | (790) |  |  | $ | — |  |  | $ | (1,577) |  |  |  |  |  |  |  |  |
OREO |  | $ | — |  |  | $ | — |  |  | $ | (2,576) |  |  | $ | — |  |  |  |  |  |  |  |  |
Schedule Of The Carrying And Fair Value Estimates Per The Fair Value Hierarchy Of Financial Instruments Measured On a Nonrecurring Basis | The following tables present the fair value estimates for financial instruments as of September 30, 2024 and December 31, 2023, excluding financial instruments recorded at fair value on a recurring basis as they are included in the tables presented elsewhere in this Note. The carrying amounts in the following tables are recorded on the Consolidated Balance Sheet under the indicated captions, except for accrued interest receivable, restricted equity securities, at cost, and mortgage servicing rights that are included in Other assets, and accrued interest payable which is included in Accrued expenses and other liabilities. These financial instruments are measured on an amortized cost basis on the Company’s Consolidated Balance Sheet.
|  | September 30, 2024
($ in thousands) |  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Estimated Fair Value
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4,860,073 |  |  | $ | 4,860,073 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,860,073 |
Interest-bearing deposits with banks |  | $ | 116,101 |  |  | $ | — |  |  | $ | 116,101 |  |  | $ | — |  |  | $ | 116,101 |
Resale agreements |  | $ | 425,000 |  |  | $ | — |  |  | $ | 350,151 |  |  | $ | — |  |  | $ | 350,151 |
HTM debt securities |  | $ | 2,928,399 |  |  | $ | 505,144 |  |  | $ | 2,005,208 |  |  | $ | — |  |  | $ | 2,510,352 |
Restricted equity securities, at cost |  | $ | 164,908 |  |  | $ | — |  |  | $ | 164,908 |  |  | $ | — |  |  | $ | 164,908 |
Loans held-for-investment, net |  | $ | 52,556,696 |  |  | $ | — |  |  | $ | — |  |  | $ | 51,255,590 |  |  | $ | 51,255,590 |
Mortgage servicing rights |  | $ | 5,563 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,416 |  |  | $ | 9,416 |
Accrued interest receivable |  | $ | 323,788 |  |  | $ | — |  |  | $ | 323,788 |  |  | $ | — |  |  | $ | 323,788 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Demand, checking, savings and money market deposits |  | $ | 38,483,004 |  |  | $ | — |  |  | $ | 38,483,004 |  |  | $ | — |  |  | $ | 38,483,004 |
Time deposits |  | $ | 23,217,111 |  |  | $ | — |  |  | $ | 23,220,896 |  |  | $ | — |  |  | $ | 23,220,896 |
FHLB advances |  | $ | 3,500,000 |  |  | $ | — |  |  | $ | 3,504,340 |  |  | $ | — |  |  | $ | 3,504,340 |
Long-term debt |  | $ | 31,923 |  |  | $ | — |  |  | $ | 30,334 |  |  | $ | — |  |  | $ | 30,334 |
Accrued interest payable |  | $ | 64,151 |  |  | $ | — |  |  | $ | 64,151 |  |  | $ | — |  |  | $ | 64,151 |
|  | December 31, 2023
($ in thousands) |  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Estimated Fair Value
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4,614,984 |  |  | $ | 4,614,984 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,614,984 |
Interest-bearing deposits with banks |  | $ | 10,498 |  |  | $ | — |  |  | $ | 10,498 |  |  | $ | — |  |  | $ | 10,498 |
Resale agreements |  | $ | 785,000 |  |  | $ | — |  |  | $ | 699,056 |  |  | $ | — |  |  | $ | 699,056 |
HTM debt securities |  | $ | 2,956,040 |  |  | $ | 488,551 |  |  | $ | 1,965,420 |  |  | $ | — |  |  | $ | 2,453,971 |
Restricted equity securities, at cost |  | $ | 79,811 |  |  | $ | — |  |  | $ | 79,811 |  |  | $ | — |  |  | $ | 79,811 |
Loans held-for-sale |  | $ | 116 |  |  | $ | — |  |  | $ | 116 |  |  | $ | — |  |  | $ | 116 |
Loans held-for-investment, net |  | $ | 51,542,039 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,256,565 |  |  | $ | 50,256,565 |
Mortgage servicing rights |  | $ | 6,602 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,470 |  |  | $ | 9,470 |
Accrued interest receivable |  | $ | 331,490 |  |  | $ | — |  |  | $ | 331,490 |  |  | $ | — |  |  | $ | 331,490 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Demand, checking, savings and money market deposits |  | $ | 38,048,974 |  |  | $ | — |  |  | $ | 38,048,974 |  |  | $ | — |  |  | $ | 38,048,974 |
Time deposits |  | $ | 18,043,464 |  |  | $ | — |  |  | $ | 18,004,951 |  |  | $ | — |  |  | $ | 18,004,951 |
BTFP borrowings |  | $ | 4,500,000 |  |  | $ | — |  |  | $ | 4,500,000 |  |  | $ | — |  |  | $ | 4,500,000 |
Long-term debt |  | $ | 148,249 |  |  | $ | — |  |  | $ | 150,896 |  |  | $ | — |  |  | $ | 150,896 |
Accrued interest payable |  | $ | 205,430 |  |  | $ | — |  |  | $ | 205,430 |  |  | $ | — |  |  | $ | 205,430 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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