XML 51 R42.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Measurements  
Tables of Financial Instruments Measured At Fair Value on Recurring Basis

The tables below present the financial instruments measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 in the consolidated statements of financial condition utilizing the hierarchy structure described above:

June 30, 2023

Level 1

Level 2

Level 3

Total

Assets:

    

    

    

    

    

    

    

    

Investment securities available-for-sale:

U.S. Treasuries

$

71,575

$

$

$

71,575

Mortgage-backed securities:

Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises

211,205

211,205

Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises

 

 

373,780

 

 

373,780

Municipal securities

153

153

Corporate debt

 

1,841

 

 

1,841

Loans held for sale

 

 

25,172

 

 

25,172

Interest rate swap derivatives

 

 

44,061

 

 

44,061

Mortgage banking derivatives

394

394

Total assets at fair value

$

71,575

$

656,212

$

394

$

728,181

Liabilities:

Interest rate swap derivatives

$

$

12,829

$

$

12,829

Mortgage banking derivatives

133

133

Total liabilities at fair value

$

$

12,829

$

133

$

12,962

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

The table below details the changes in level 3 financial instruments during the six months ended June 30, 2023:

    

Mortgage banking

derivatives, net

Balance at December 31, 2022

$

129

Loss included in earnings, net

68

Fees and costs included in earnings, net

 

64

Balance at June 30, 2023

$

261

Table of Assets Recorded at Fair Value On a Non-Recurring Basis

The tables below provide information regarding losses from assets recorded at fair value on a non-recurring basis during the six months ended June 30, 2023 and 2022:

June 30, 2023

Total

Losses from fair value changes

Individually evaluated loans

$

55,569

$

679

Other real estate owned

    

3,458

    

13

Total

$

59,027

$

692

June 30, 2022

Total

Losses from fair value changes

Individually evaluated loans

$

14,916

$

1,085

Other real estate owned

    

4,992

188

Mortgage servicing rights

8,795

39

Total

$

28,703

$

1,312