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Fair Value Measurements (Tables)
3 Months Ended
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