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NOTE 6 - FAIR VALUE (Tables) | 6 Months Ended
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Jun. 30, 2020
Notes Tables |
Schedule of assets measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements at Reporting Date Using
​ | ​ | ​ | ​ | ​ | Quoted Prices | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets for | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs
​ |  | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ | ​ | (dollars in thousands)
June 30, 2020: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities AFS: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. govt. sponsored agency securities | ​ | $ | 17,472 | ​ | $ | — | ​ | $ | 17,472 | ​ | $ | —
Residential mortgage-backed and related securities | ​ |  | 145,672 | ​ |  | — | ​ |  | 145,672 | ​ |  | —
Municipal securities | ​ |  | 101,266 | ​ |  | — | ​ |  | 101,266 | ​ |  | —
Asset-backed securities | ​ | ​ | 39,797 | ​ | ​ | — | ​ | ​ | 39,797 | ​ | ​ | —
Other securities | ​ |  | 18,700 | ​ |  | — | ​ |  | 18,700 | ​ |  | —
Derivatives | ​ |  | 225,164 | ​ |  | — | ​ |  | 225,164 | ​ |  | —
Total assets measured at fair value | ​ | $ | 548,071 | ​ | $ | — | ​ | $ | 548,071 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives | ​ | $ | 233,589 | ​ | $ | — | ​ | $ | 233,589 | ​ | $ | —
Total liabilities measured at fair value | ​ | $ | 233,589 | ​ | $ | — | ​ | $ | 233,589 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
December 31, 2019: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Securities AFS: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. govt. sponsored agency securities | ​ | $ | 20,078 | ​ | $ | — | ​ | $ | 20,078 | ​ | $ | —
Residential mortgage-backed and related securities | ​ |  | 120,587 | ​ |  | — | ​ |  | 120,587 | ​ |  | —
Municipal securities | ​ |  | 48,257 | ​ |  | — | ​ |  | 48,257 | ​ |  | —
Asset-backed securities | ​ | ​ | 16,887 | ​ | ​ | — | ​ | ​ | 16,887 | ​ | ​ | —
Other securities | ​ |  | 4,886 | ​ |  | — | ​ |  | 4,886 | ​ |  | —
Derivatives | ​ |  | 87,827 | ​ |  | — | ​ |  | 87,827 | ​ |  | —
Total assets measured at fair value | ​ | $ | 298,522 | ​ | $ | — | ​ | $ | 298,522 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives | ​ | $ | 88,437 | ​ | $ | — | ​ | $ | 88,437 | ​ | $ | —
Total liabilities measured at fair value | ​ | $ | 88,437 | ​ | $ | — | ​ | $ | 88,437 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Fair Value Measurements at Reporting Date Using
​ | ​ | ​ | ​ | ​ | Quoted Prices | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets for | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs
​ |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | (dollars in thousands)
June 30, 2020: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Impaired loans/leases | ​ | $ | 5,821 | ​ | $ | — | ​ | $ | — | ​ | $ | 5,821
OREO | ​ |  | 170 | ​ |  | — | ​ |  | — | ​ |  | 170
​ | ​ | $ | 5,991 | ​ | $ | — | ​ | $ | — | ​ | $ | 5,991
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2019: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Impaired loans/leases | ​ | $ | 3,394 | ​ | $ | — | ​ | $ | — | ​ | $ | 3,394
OREO | ​ |  | 4,459 | ​ |  | — | ​ |  | — | ​ |  | 4,459
​ | ​ | $ | 7,853 | ​ | $ | — | ​ | $ | — | ​ | $ | 7,853
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of assets measured at fair value, valuation techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quantitative Information about Level Fair Value Measurements |
​ | ​ | Fair Value | ​ | Fair Value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | June 30, | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ |  | 2020 |  | 2019 |  | Valuation Technique |  | Unobservable Input |  | Range | ​
​ | ​ | (dollars in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans/leases | ​ | $ | 5,821 | ​ | $ | 3,394 |  | Appraisal of collateral |  | Appraisal adjustments |  | (10.00) | % | to |  | (30.00) | %
OREO | ​ |  | 170 | ​ |  | 4,459 |  | Appraisal of collateral |  | Appraisal adjustments |  | 0.00 | % | to |  | (35.00) | %
Schedule of assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value | ​ | As of June 30, 2020 | ​ | As of December 31, 2019
​ | ​ | Hierarchy | ​ | Carrying | ​ | Estimated | ​ | Carrying | ​ | Estimated
​ |  | Level |  | Value |  | Fair Value |  | Value |  | Fair Value
​ | ​ | ​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks |  | Level 1 | ​ | $ | 88,577 | ​ | $ | 88,577 | ​ | $ | 76,254 | ​ | $ | 76,254
Federal funds sold |  | Level 2 | ​ |  | 2,125 | ​ |  | 2,125 | ​ |  | 9,800 | ​ |  | 9,800
Interest-bearing deposits at financial institutions |  | Level 2 | ​ |  | 140,775 | ​ |  | 140,775 | ​ |  | 147,891 | ​ |  | 147,891
Investment securities: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
HTM |  | Level 2 | ​ |  | 425,976 | ​ |  | 445,068 | ​ |  | 400,646 | ​ |  | 426,545
AFS |  | * | ​ |  | 322,907 | ​ |  | 322,907 | ​ |  | 210,695 | ​ |  | 210,695
Loans/leases receivable, net |  | Level 3 | ​ |  | 5,390 | ​ |  | 5,821 | ​ |  | 3,143 | ​ |  | 3,394
Loans/leases receivable, net |  | Level 2 | ​ |  | 4,074,042 | ​ |  | 4,049,076 | ​ |  | 3,651,061 | ​ |  | 3,606,520
Derivatives |  | Level 2 | ​ |  | 225,164 | ​ |  | 225,164 | ​ |  | 87,827 | ​ |  | 87,827
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Nonmaturity deposits |  | Level 2 | ​ |  | 3,674,337 | ​ |  | 3,674,337 | ​ |  | 3,184,726 | ​ |  | 3,184,726
Time deposits |  | Level 2 | ​ |  | 675,438 | ​ |  | 682,827 | ​ |  | 726,325 | ​ |  | 742,444
Short-term borrowings |  | Level 2 | ​ |  | 124,818 | ​ |  | 124,818 | ​ |  | 13,423 | ​ |  | 13,423
FHLB advances |  | Level 2 | ​ |  | 145,000 | ​ |  | 146,788 | ​ |  | 159,300 | ​ |  | 159,193
Subordinated notes | ​ | Level 2 | ​ | ​ | 68,516 | ​ | ​ | 68,705 | ​ | ​ | 68,394 | ​ | ​ | 68,563
Junior subordinated debentures |  | Level 2 | ​ |  | 37,916 | ​ |  | 30,458 | ​ |  | 37,838 | ​ |  | 30,477
Derivatives |  | Level 2 | ​ |  | 233,589 | ​ |  | 233,589 | ​ |  | 88,437 | ​ |  | 88,437

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: 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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + 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 http://asc.fasb.org/extlink&oid=117815213&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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