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v3.23.1

Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2023
Fair Value Measurements |
Tables of Financial Instruments Measured At Fair Value on Recurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasuries | ​ | $ | 72,154 | ​ | $ | — | ​ | $ | — | ​ | $ | 72,154
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 222,209 | ​ | ​ | — | ​ | ​ | 222,209
Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises | ​ |  | — | ​ |  | 398,282 | ​ |  | — | ​ |  | 398,282
Municipal securities | ​ | ​ | — | ​ | ​ | 154 | ​ | ​ | — | ​ | ​ | 154
Corporate debt | ​ | ​ | — | ​ |  | 1,892 | ​ |  | — | ​ |  | 1,892
Loans held for sale | ​ |  | — | ​ |  | 24,594 | ​ |  | — | ​ |  | 24,594
Interest rate swap derivatives | ​ |  | — | ​ |  | 35,603 | ​ |  | — | ​ |  | 35,603
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 707 | ​ | ​ | 707
Total assets at fair value | ​ | $ | 72,154 | ​ | $ | 682,734 | ​ | $ | 707 | ​ | $ | 755,595
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap derivatives | ​ | $ | — | ​ | $ | 10,042 | ​ | $ | — | ​ | $ | 10,042
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 318 | ​ | ​ | 318
Total liabilities at fair value | ​ | $ | — | ​ | $ | 10,042 | ​ | $ | 318 | ​ | $ | 10,360
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasuries | ​ | $ | 71,388 | ​ | $ | — | ​ | $ | — | ​ | $ | 71,388
Mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises | ​ | ​ | — | ​ | ​ | 226,131 | ​ | ​ | — | ​ | ​ | 226,131
Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises | ​ |  | — | ​ |  | 405,926 | ​ |  | — | ​ |  | 405,926
Municipal securities | ​ | ​ | — | ​ | ​ | 153 | ​ | ​ | — | ​ | ​ | 153
Corporate debt | ​ | ​ | — | ​ |  | 1,920 | ​ |  | — | ​ | ​ | 1,920
Loans held for sale | ​ |  | — | ​ |  | 22,767 | ​ |  | — | ​ |  | 22,767
Interest rate swap derivatives | ​ |  | — | ​ |  | 44,821 | ​ |  | — | ​ |  | 44,821
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 407 | ​ | ​ | 407
Total assets at fair value | ​ | $ | 71,388 | ​ | $ | 701,718 | ​ | $ | 407 | ​ | $ | 773,513
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap derivatives | ​ | $ | — | ​ | $ | 12,589 | ​ | $ | — | ​ | $ | 12,589
Mortgage banking derivatives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 278 | ​ | ​ | 278
Total liabilities at fair value | ​ | $ | — | ​ | $ | 12,589 | ​ | $ | 278 | ​ | $ | 12,867
​
Table of Changes in Level 3 Financial Instruments | ​
​ | ​ | ​ | ​
​ |  | ​ | Mortgage banking
​ | ​ | ​ | derivatives, net
Balance at December 31, 2022 | ​ | $ | 129
Loss included in earnings, net | ​ | ​ | 296
Fees and costs included in earnings, net | ​ |  | (36)
Balance at March 31, 2023 | ​ | $ | 389
​
Table of Assets Recorded at Fair Value On a Non-Recurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
​ | ​ | Total | ​ | Losses from fair value changes
Individually evaluated loans | ​ | $ | 19,577 | ​ | $ | 325
Other real estate owned |  | ​ | 3,458 |  | ​ | 13
Total | ​ | $ | 23,035 | ​ | $ | 338
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2022
​ | ​ | Total | ​ | Losses from fair value changes
Individually evaluated loans | ​ | $ | 14,104 | ​ | $ | 634
Other real estate owned |  | ​ | 5,063 | ​ | ​ | 188
Total | ​ | $ | 19,167 | ​ | $ | 822
​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + 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/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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