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Note 8 - FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities		$	20,101		$	—		$	20,101		$	—
Residential mortgage-backed and related securities			54,708			—			54,708			—
Municipal securities			165,268			—			165,268			—
Asset-backed securities			12,721			—			12,721			—
Other securities			37,414			—			37,414			—
Securities trading			22,362			—			—			22,362
Derivatives			194,354			—			194,354			—
Total assets measured at fair value		$	506,928		$	—		$	484,566		$	22,362

Derivatives		$	221,798		$	—		$	221,798		$	—
Total liabilities measured at fair value		$	221,798		$	—		$	221,798		$	—


December 31, 2023:
Securities AFS:
U.S. govt. sponsored agency securities		$	14,973		$	—		$	14,973		$	—
Residential mortgage-backed and related securities			59,196			—			59,196			—
Municipal securities			170,987			—			170,987			—
Asset-backed securities			15,423			—			15,423			—
Other securities			39,076			—			39,076			—
Securities trading			22,369			—			—			22,369
Derivatives			187,341			—			187,341			—
Total assets measured at fair value		$	509,365		$	—		$	486,996		$	22,369

Derivatives		$	215,735		$	—		$	215,735		$	—
Total liabilities measured at fair value		$	215,735		$	—		$	215,735		$	—


					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, 2024:
Loans/leases evaluated individually		$	33,910		$	—		$	—		$	33,910
Loans receivable held for sale in preparation for securitization			243,193			—			—			243,193
OREO			399			—			—			399
Other repossessed assets			576			—			—			576
		$	278,078		$	—		$	—		$	278,078

December 31, 2023:
Loans/leases evaluated individually		$	33,656		$	—		$	—		$	33,656
OREO			1,455			—			—			1,455
		$	35,111		$	—		$	—		$	35,111

Schedule of assets measured at fair value, valuation techniques


		Quantitative Information about Level Fair Value Measurements
		Fair Value			Fair Value
		June 30,			December 31,
		2024			2023			Valuation Technique		Unobservable Input		Range

		(dollars in thousands)

Loans/leases evaluated individually		$	33,910		$	33,656		Appraisal of collateral		Appraisal adjustments		-10.00	%	to		-30.00	%
Loans receivable held for sale in preparation for securitization			243,193			—		Market prices for similar loans		Market price adjustments				n/a
OREO			399			1,455		Appraisal of collateral		Appraisal adjustments		0.00	%	to		-35.00	%
Other repossessed assets			576			—		Average auction prices		Market price adjustments				n/a

Schedule of assets and liabilities measured at fair value


		Fair Value		As of June 30, 2024						As of December 31, 2023
		Hierarchy		Carrying			Estimated			Carrying			Estimated
		Level		Value			Fair Value			Value			Fair Value

				(dollars in thousands)

Cash and due from banks		Level 1		$	92,173		$	92,173		$	97,123		$	97,123
Federal funds sold		Level 2			8,150			8,150			35,450			35,450
Interest-bearing deposits at financial institutions		Level 2			94,112			94,112			104,919			104,919
Investment securities:
HTM		Level 2			720,625			696,447			683,504			680,279
AFS		Level 2			290,212			290,212			299,655			299,655
Trading		Level 3			22,362			22,362			22,369			22,369
Loans/leases receivable, net		Level 3			31,398			33,910			31,163			33,656
Loans/leases receivable, net		Level 2			6,735,282			6,468,550			6,425,053			6,125,433
Derivatives		Level 2			194,354			194,354			187,341			187,341

Deposits:
Nonmaturity deposits		Level 2			5,688,913			5,688,913			5,504,323			5,504,323
Time deposits		Level 2			1,075,754			1,071,579			1,009,682			996,746
Short-term borrowings		Level 2			1,600			1,600			1,500			1,500
FHLB advances		Level 2			485,000			485,231			435,000			437,178
Subordinated notes		Level 2			233,276			239,136			233,064			240,235
Junior subordinated debentures		Level 2			48,795			40,718			48,731			40,397
Derivatives		Level 2			221,798			221,798			215,735			215,735