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Note 8 - FAIR VALUE (Tables) | 9 Months Ended
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Sep. 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)
September 30, 2024: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities AFS: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. treasuries and govt. sponsored agency securities | ​ | $ | 18,621 | ​ | $ | — | ​ | $ | 18,621 | ​ | $ | —
Residential mortgage-backed and related securities | ​ |  | 53,487 | ​ |  | — | ​ |  | 53,487 | ​ |  | —
Municipal securities | ​ |  | 171,162 | ​ |  | — | ​ |  | 171,162 | ​ |  | —
Asset-backed securities | ​ | ​ | 10,455 | ​ | ​ | — | ​ | ​ | 10,455 | ​ | ​ | —
Other securities | ​ |  | 38,140 | ​ |  | — | ​ |  | 38,140 | ​ |  | —
Securities trading | ​ | ​ | 58,685 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 58,685
Derivatives | ​ |  | 261,913 | ​ |  | — | ​ |  | 261,913 | ​ |  | —
Total assets measured at fair value | ​ | $ | 612,463 | ​ | $ | — | ​ | $ | 553,778 | ​ | $ | 58,685
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivatives | ​ | $ | 285,769 | ​ | $ | — | ​ | $ | 285,769 | ​ | $ | —
Total liabilities measured at fair value | ​ | $ | 285,769 | ​ | $ | — | ​ | $ | 285,769 | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
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)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2024: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Loans/leases evaluated individually | ​ | $ | 36,118 | ​ | $ | — | ​ | $ | — | ​ | $ | 36,118
Loans receivable held for sale in preparation for securitization | ​ | ​ | 165,941 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 165,941
OREO | ​ | ​ | 399 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 399
Other repossessed assets | ​ |  | 610 | ​ |  | — | ​ |  | — | ​ |  | 610
​ | ​ | $ | 203,068 | ​ | $ | — | ​ | $ | — | ​ | $ | 203,068
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Loans/leases evaluated individually | ​ | $ | 33,656 | ​ | $ | — | ​ | $ | — | ​ | $ | 33,656
OREO | ​ |  | 1,455 | ​ |  | — | ​ |  | — | ​ |  | 1,455
​ | ​ | $ | 35,111 | ​ | $ | — | ​ | $ | — | ​ | $ | 35,111
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of changes in fair value of trading securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | For the | ​ | ​ | ​ | For the | ​
​ | Three Months Ended | ​ | ​ | ​ | Nine Months Ended | ​
​ | September 30, 2024 | ​ | ​ | ​ | September 30, 2024 | ​
​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at the beginning of the period | $ | 22,362 | ​ | ​ | $ | 22,369 | ​
Trading securities purchased | ​ | 36,670 | ​ | ​ | ​ | 36,670 | ​
Fair value gain (loss) | ​ | (347) | ​ | ​ | ​ | (354) | ​
Balance at the end of the period | $ | 58,685 | ​ | ​ | $ | 58,685 | ​
Schedule of assets measured at fair value, valuation techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quantitative Information about Level Fair Value Measurements |
​ | ​ | Fair Value | ​ | Fair Value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | September 30, | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ |  | 2024 |  | 2023 |  | Valuation Technique |  | Unobservable Input |  | Range | ​
​ | ​ | (dollars in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans/leases evaluated individually | ​ | $ | 36,118 | ​ | $ | 33,656 | ​ | Appraisal of collateral | ​ | Appraisal adjustments | ​ | -10.00 | % | to | ​ | -30.00 | %
Loans receivable held for sale in preparation for securitization | ​ | ​ | 165,941 | ​ | ​ | — | ​ | 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 | ​ |  | 610 | ​ |  | — |  | Average auction prices |  | Market price adjustments |  | ​ | ​ | n/a | ​ | ​ | ​
Schedule of assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value | ​ | As of September 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 | ​ | $ | 103,840 | ​ | $ | 103,840 | ​ | $ | 97,123 | ​ | $ | 97,123
Federal funds sold |  | Level 2 | ​ |  | 13,200 | ​ |  | 13,200 | ​ |  | 35,450 | ​ |  | 35,450
Interest-bearing deposits at financial institutions |  | Level 2 | ​ |  | 145,959 | ​ |  | 145,959 | ​ |  | 104,919 | ​ |  | 104,919
Investment securities: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
HTM |  | Level 2 | ​ |  | 795,496 | ​ |  | 791,659 | ​ |  | 683,504 | ​ |  | 680,279
AFS |  | Level 2 | ​ |  | 291,865 | ​ |  | 291,865 | ​ |  | 299,655 | ​ |  | 299,655
Trading | ​ | Level 3 | ​ | ​ | 58,685 | ​ | ​ | 58,685 | ​ | ​ | 22,369 | ​ | ​ | 22,369
Loans/leases receivable, net |  | Level 3 | ​ |  | 33,443 | ​ |  | 36,118 | ​ |  | 31,163 | ​ |  | 33,656
Loans/leases receivable, net |  | Level 2 | ​ |  | 6,709,038 | ​ |  | 6,483,278 | ​ |  | 6,425,053 | ​ |  | 6,125,433
Derivatives |  | Level 2 | ​ |  | 261,913 | ​ |  | 261,913 | ​ |  | 187,341 | ​ |  | 187,341
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits: |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Nonmaturity deposits |  | Level 2 | ​ |  | 5,749,506 | ​ |  | 5,749,506 | ​ |  | 5,504,323 | ​ |  | 5,504,323
Time deposits |  | Level 2 | ​ |  | 1,235,127 | ​ |  | 1,235,442 | ​ |  | 1,009,682 | ​ |  | 996,746
Short-term borrowings |  | Level 2 | ​ |  | 2,750 | ​ |  | 2,750 | ​ |  | 1,500 | ​ |  | 1,500
FHLB advances |  | Level 2 | ​ |  | 375,383 | ​ |  | 377,501 | ​ |  | 435,000 | ​ |  | 437,178
Subordinated notes | ​ | Level 2 | ​ | ​ | 233,383 | ​ | ​ | 238,978 | ​ | ​ | 233,064 | ​ | ​ | 240,235
Junior subordinated debentures |  | Level 2 | ​ |  | 48,828 | ​ |  | 41,114 | ​ |  | 48,731 | ​ |  | 40,397
Derivatives |  | Level 2 | ​ |  | 285,769 | ​ |  | 285,769 | ​ |  | 215,735 | ​ |  | 215,735
​

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + 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://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -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/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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