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Note 21 - Fair Value (Tables)

12 Months Ended

Dec. 31, 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)
December 31, 2024:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities		$	20,591		$	—		$	20,591		$	—
Residential mortgage-backed and related securities			50,042			—			50,042			—
Municipal securities			164,575			—			164,575			—
Asset-backed securities			9,224			—			9,224			—
Other securities			36,677			—			36,677			—
Securities trading			83,529			—			—			83,529
Derivatives			186,781			—			186,781			—
Total assets measured at fair value		$	551,419		$	—		$	467,890		$	83,529

Derivatives		$	214,823		$	—		$	214,823		$	—
Total liabilities measured at fair value		$	214,823		$	—		$	214,823		$	—


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)

December 31, 2024:
Loans/leases evaluated individually		$	54,434		$	—		$	—		$	54,434
OREO			714			—			—			714
		$	55,148		$	—		$	—		$	55,148

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
		Year Ended			Year Ended
		December 31, 2024			December 31, 2023


Balance at the beginning of the period		$	22,369		$	—
Trading securities purchased			60,233			22,369
Paydowns			(13)
Premium amortization			(616)			—
Fair value gain (loss)			1,556			—
Balance at the end of the period		$	83,529		$	22,369

Schedule of assets measured at fair value, valuation techniques


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

		(dollars in thousands)

Loans/leases evaluated individually		$	54,434		$	33,656		Appraisal of collateral		Appraisal adjustments		-10.00	%	to		-30.00	%
OREO			714			1,455		Appraisal of collateral		Appraisal adjustments		0.00	%	to		-35.00	%

Schedule of assets and liabilities measured at fair value


		Fair Value		As of December 31, 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		$	91,732		$	91,732		$	97,123		$	97,123
Federal funds sold		Level 2			27,150			27,150			35,450			35,450
Interest-bearing deposits at financial institutions		Level 2			143,442			143,442			104,919			104,919
Investment securities:
HTM		Level 2			835,797			800,583			683,504			680,279
AFS		Level 2			281,109			281,109			299,655			299,655
Trading		Level 3			83,529			83,529			22,369			22,369
Loans/leases receivable, net		Level 3			50,402			54,434			31,163			33,656
Loans/leases receivable, net		Level 2			6,644,161			6,325,156			6,425,053			6,125,433
Derivatives		Level 2			186,781			186,781			187,341			187,341

Deposits:
Nonmaturity deposits		Level 2			5,835,362			5,835,362			5,504,323			5,504,323
Time deposits		Level 2			1,225,825			1,222,482			1,009,682			996,746
Short-term borrowings		Level 2			1,800			1,800			1,500			1,500
FHLB advances		Level 2			285,383			285,196			435,000			437,178
Subordinated notes		Level 2			233,489			238,873			233,064			240,235
Junior subordinated debentures		Level 2			48,860			41,638			48,731			40,397
Derivatives		Level 2			214,823			214,823			215,735			215,735

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.

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