XML 39 R27.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Note 11 - Fair Value Measurement (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Notes Tables |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  | Fair Value Measurements at March 31, 2024 Using |  |  |  |  |
|  | Quoted Prices in |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Active Markets |  |  | Significant Other |  |  | Significant |  |  |  |  |
|  | for Identical |  |  | Observable Inputs |  |  | Unobservable |  |  |  |  |
|  | Assets (Level 1) |  |  | (Level 2) |  |  | Inputs (Level 3) |  |  | Total |
Assets Measured on a Recurring Basis: |  | (In Thousands) |
Available for sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 493,969 |  |  | $ | - |  |  | $ | - |  |  | $ | 493,969 |
Mortgage-backed securities |  |  | - |  |  |  | 254,915 |  |  |  | - |  |  |  | 254,915 |
State and municipal securities |  |  | - |  |  |  | 9,958 |  |  |  | - |  |  |  | 9,958 |
Corporate debt |  |  | - |  |  |  | 315,086 |  |  |  | - |  |  |  | 315,086 |
Total available-for-sale debt securities |  |  | 493,969 |  |  |  | 579,959 |  |  |  | - |  |  |  | 1,073,929 |
Total assets at fair value |  | $ | 493,969 |  |  | $ | 579,959 |  |  | $ | - |  |  | $ | 1,073,929 |
|  | Fair Value Measurements at December 31, 2023 Using |  |  |  |  |
|  | Quoted Prices in |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Active Markets |  |  | Significant Other |  |  | Significant |  |  |  |  |
|  | for Identical |  |  | Observable Inputs |  |  | Unobservable |  |  |  |  |
|  | Assets (Level 1) |  |  | (Level 2) |  |  | Inputs (Level 3) |  |  | Total |
Assets Measured on a Recurring Basis: |  | (In Thousands) |
Available for sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 340,807 |  |  | $ | - |  |  | $ | - |  |  | $ | 340,807 |
Mortgage-backed securities |  |  | - |  |  |  | 215,485 |  |  |  | - |  |  |  | 215,485 |
State and municipal securities |  |  | - |  |  |  | 10,223 |  |  |  | - |  |  |  | 10,223 |
Corporate debt |  |  | - |  |  |  | 326,808 |  |  |  | 6,860 |  |  |  | 333,668 |
Total available-for-sale debt securities |  |  | 340,807 |  |  |  | 552,516 |  |  |  | 6,860 |  |  |  | 900,183 |
Total assets at fair value |  | $ | 340,807 |  |  | $ | 552,516 |  |  | $ | 6,860 |  |  | $ | 900,183 |
Fair Value Measurements, Nonrecurring [Table Text Block] |
|  | Fair Value Measurements at March 31, 2024 Using |  |  |  |  |
|  | Quoted Prices in |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Active Markets |  |  | Significant Other |  |  | Significant |  |  |  |  |
|  | for Identical |  |  | Observable |  |  | Unobservable |  |  |  |  |
|  | Assets (Level 1) |  |  | Inputs (Level 2) |  |  | Inputs (Level 3) |  |  | Total |
Assets Measured on a Nonrecurring Basis: |  | (In Thousands) |
Loans individually evaluated |  | $ | - |  |  | $ | - |  |  | $ | 81,871 |  |  | $ | 81,871 |
Other real estate owned and repossessed assets |  |  | - |  |  |  | - |  |  |  | 490 |  |  |  | 490 |
Total assets at fair value |  | $ | - |  |  | $ | - |  |  | $ | 82,361 |  |  | $ | 82,361 |
|  | Fair Value Measurements at December 31, 2023 Using |  |  |  |  |
|  | Quoted Prices in |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Active Markets |  |  | Significant Other |  |  | Significant |  |  |  |  |
|  | for Identical |  |  | Observable |  |  | Unobservable |  |  |  |  |
|  | Assets (Level 1) |  |  | Inputs (Level 2) |  |  | Inputs (Level 3) |  |  | Total |
Assets Measured on a Nonrecurring Basis: |  | (In Thousands) |
Loans individually evaluated |  | $ | - |  |  | $ | - |  |  | $ | 70,735 |  |  | $ | 70,735 |
Other real estate owned |  |  | - |  |  |  | - |  |  |  | 995 |  |  |  | 995 |
Total assets at fair value |  | $ | - |  |  | $ | - |  |  | $ | 71,730 |  |  | $ | 71,730 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
|  | For the period ended March 31, |
|  | 2024 |  |  | 2023 |
|  | Available-for-sale Securities |  |  | Available-for-sale Securities |
|  | (In Thousands) |
Fair value, beginning of period |  | $ | 6,860 |  |  | $ | 10,860 |
Transfers into Level 3 |  |  | - |  |  |  | - |
Total realized gains included in income |  |  | - |  |  |  | - |
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end |  |  | (1,329 | ) |  |  | 160 |
Purchases |  |  | - |  |  |  | - |
Transfers out of Level 3 |  |  | (5,531 | ) |  |  | (4,160 | )
Fair value, end of period |  | $ | - |  |  | $ | 6,860 |
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | Carrying |  |  |  |  |  |  | Carrying |  |  |  |  |
|  | Amount |  |  | Fair Value |  |  | Amount |  |  | Fair Value |
|  | (In Thousands) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1 Inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,280,274 |  |  | $ | 1,280,274 |  |  | $ | 2,030,513 |  |  | $ | 2,030,513 |
Held to maturity U.S. Treasury securities |  |  | 393,932 |  |  |  | 368,868 |  |  |  | 508,985 |  |  |  | 484,267 |
Level 2 Inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal funds sold |  |  | 170,625 |  |  |  | 170,625 |  |  |  | 100,575 |  |  |  | 100,575 |
Held to maturity debt securities |  |  | 473,514 |  |  |  | 416,152 |  |  |  | 473,429 |  |  |  | 422,674 |
Mortgage loans held for sale |  |  | 7,592 |  |  |  | 7,592 |  |  |  | 5,071 |  |  |  | 5,071 |
Restricted equity securities |  |  | 11,300 |  |  |  | 11,300 |  |  |  | 10,226 |  |  |  | 10,226 |
Level 3 Inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Held to maturity debt securities |  |  | 250 |  |  |  | 250 |  |  |  | 250 |  |  |  | 250 |
Loans, net |  |  | 11,642,933 |  |  |  | 11,195,399 |  |  |  | 11,505,512 |  |  |  | 11,032,819 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 2 Inputs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 12,751,448 |  |  | $ | 12,743,505 |  |  | $ | 13,273,511 |  |  | $ | 13,266,640 |
Federal funds purchased |  |  | 1,345,328 |  |  |  | 1,345,328 |  |  |  | 1,256,724 |  |  |  | 1,256,724 |
Other borrowings |  |  | 64,737 |  |  |  | 58,337 |  |  |  | 64,735 |  |  |  | 58,083 |

X
- 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
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration