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Note 7 - FAIR VALUE (Tables) | 9 Months Ended
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Sep. 30, 2023
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)
September 30, 2023: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities AFS: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. treasuries and govt. sponsored agency securities | ​ | $ | 16,002 | ​ | $ | — | ​ | $ | 16,002 | ​ | $ | —
Residential mortgage-backed and related securities | ​ |  | 57,946 | ​ |  | — | ​ |  | 57,946 | ​ |  | —
Municipal securities | ​ |  | 149,772 | ​ |  | — | ​ |  | 149,772 | ​ |  | —
Asset-backed securities | ​ | ​ | 16,326 | ​ | ​ | — | ​ | ​ | 16,326 | ​ | ​ | —
Other securities | ​ |  | 41,233 | ​ |  | — | ​ |  | 41,233 | ​ |  | —
Derivatives | ​ |  | 291,295 | ​ |  | — | ​ |  | 291,295 | ​ |  | —
Total assets measured at fair value | ​ | $ | 572,574 | ​ | $ | — | ​ | $ | 572,574 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives | ​ | $ | 320,220 | ​ | $ | — | ​ | $ | 320,220 | ​ | $ | —
Total liabilities measured at fair value | ​ | $ | 320,220 | ​ | $ | — | ​ | $ | 320,220 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
December 31, 2022: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Securities AFS: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. govt. sponsored agency securities | ​ | $ | 16,981 | ​ | $ | — | ​ | $ | 16,981 | ​ | $ | —
Residential mortgage-backed and related securities | ​ |  | 66,215 | ​ |  | — | ​ |  | 66,215 | ​ |  | —
Municipal securities | ​ |  | 193,178 | ​ |  | — | ​ |  | 193,178 | ​ |  | —
Asset-backed securities | ​ | ​ | 18,728 | ​ | ​ | — | ​ | ​ | 18,728 | ​ | ​ | —
Other securities | ​ |  | 45,858 | ​ |  | — | ​ |  | 45,858 | ​ |  | —
Derivatives | ​ |  | 177,631 | ​ |  | — | ​ |  | 177,631 | ​ |  | —
Total assets measured at fair value | ​ | $ | 518,591 | ​ | $ | — | ​ | $ | 518,591 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives | ​ | $ | 200,701 | ​ | $ | — | ​ | $ | 200,701 | ​ | $ | —
Total liabilities measured at fair value | ​ | $ | 200,701 | ​ | $ | — | ​ | $ | 200,701 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | 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)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2023: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Loans/leases evaluated individually | ​ | $ | 35,197 | ​ | $ | — | ​ | $ | — | ​ | $ | 35,197
Loans receivable held for sale in preparation for securitization | ​ | ​ | 277,995 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 277,995
OREO | ​ |  | 120 | ​ |  | — | ​ |  | — | ​ |  | 120
​ | ​ | $ | 313,312 | ​ | $ | — | ​ | $ | — | ​ | $ | 313,312
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Loans/leases evaluated individually | ​ | $ | 30,765 | ​ | $ | — | ​ | $ | — | ​ | $ | 30,765
OREO | ​ |  | 144 | ​ |  | — | ​ |  | — | ​ |  | 144
​ | ​ | $ | 30,909 | ​ | $ | — | ​ | $ | — | ​ | $ | 30,909
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of assets measured at fair value, valuation techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quantitative Information about Level Fair Value Measurements |
​ | ​ | Fair Value | ​ | Fair Value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | September 30, | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ |  | 2023 |  | 2022 |  | Valuation Technique |  | Unobservable Input |  | Range | ​
​ | ​ | (dollars in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans/leases evaluated individually | ​ | $ | 35,197 | ​ | $ | 30,765 |  | Appraisal of collateral |  | Appraisal adjustments |  | -10.00 | % | to |  | -30.00 | %
Loans receivable held for sale in preparation for securitization | ​ | ​ | 277,995 | ​ | ​ | — | ​ | Market prices for similar loans | ​ | Market price adjustments | ​ | ​ | ​ | n/a | ​ | ​ | ​
OREO | ​ |  | 130 | ​ |  | 144 |  | Appraisal of collateral |  | Appraisal adjustments |  | 0.00 | % | to |  | -35.00 | %
Schedule of assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value | ​ | As of September 30, 2023 | ​ | As of December 31, 2022
​ | ​ | Hierarchy | ​ | Carrying | ​ | Estimated | ​ | Carrying | ​ | Estimated
​ |  | Level |  | Value |  | Fair Value |  | Value |  | Fair Value
​ | ​ | ​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks |  | Level 1 | ​ | $ | 104,265 | ​ | $ | 104,265 | ​ | $ | 59,723 | ​ | $ | 59,723
Federal funds sold |  | Level 2 | ​ |  | 20,300 | ​ |  | 20,300 | ​ |  | 56,910 | ​ |  | 56,910
Interest-bearing deposits at financial institutions |  | Level 2 | ​ |  | 60,350 | ​ |  | 60,350 | ​ |  | 67,360 | ​ |  | 67,360
Investment securities: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
HTM |  | Level 2 | ​ |  | 615,115 | ​ |  | 524,819 | ​ |  | 587,142 | ​ |  | 535,636
AFS |  | Level 2 | ​ |  | 281,279 | ​ |  | 281,279 | ​ |  | 340,960 | ​ |  | 340,960
Loans/leases receivable, net |  | Level 3 | ​ |  | 310,585 | ​ |  | 313,192 | ​ |  | 28,486 | ​ |  | 30,765
Loans/leases receivable, net |  | Level 2 | ​ |  | 6,208,053 | ​ |  | 5,907,226 | ​ |  | 6,022,679 | ​ |  | 5,896,443
Derivatives |  | Level 2 | ​ |  | 291,295 | ​ |  | 291,295 | ​ |  | 177,631 | ​ |  | 177,631
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Nonmaturity deposits |  | Level 2 | ​ |  | 5,522,283 | ​ |  | 5,522,283 | ​ |  | 5,199,633 | ​ |  | 5,199,633
Time deposits |  | Level 2 | ​ |  | 972,569 | ​ |  | 966,026 | ​ |  | 784,584 | ​ |  | 766,294
Short-term borrowings |  | Level 2 | ​ |  | 470 | ​ |  | 470 | ​ |  | 129,630 | ​ |  | 129,630
FHLB advances |  | Level 2 | ​ |  | 430,000 | ​ |  | 429,450 | ​ |  | 415,000 | ​ |  | 415,000
Subordinated notes | ​ | Level 2 | ​ | ​ | 232,958 | ​ | ​ | 249,002 | ​ | ​ | 232,662 | ​ | ​ | 250,613
Junior subordinated debentures |  | Level 2 | ​ |  | 48,698 | ​ |  | 40,204 | ​ |  | 48,602 | ​ |  | 41,545
Derivatives |  | Level 2 | ​ |  | 320,220 | ​ |  | 320,220 | ​ |  | 200,701 | ​ |  | 200,701
​

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -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 + 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + 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 -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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