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Note 8 - FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2025

LOANS/LEASES RECEIVABLE

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)
March 31, 2025:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities		$	17,487		$	—		$	17,487		$	—
Residential mortgage-backed and related securities			43,194			—			43,194			—
Municipal securities			158,759			—			158,759			—
Asset-backed securities			7,764			—			7,764			—
Corporate securities			37,037			—			37,037			—
Securities trading			82,445			—			—			82,445
Derivatives			180,997			—			180,997			—
Total assets measured at fair value		$	527,683		$	—		$	445,238		$	82,445

Derivatives		$	206,925		$	—		$	206,925		$	—
Total liabilities measured at fair value		$	206,925		$	—		$	206,925		$	—


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			—
Corporate 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		$	—


					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)

March 31, 2025:
Loans/leases evaluated individually		$	54,859		$	—		$	—		$	54,859
OREO			434			—			—			434
		$	55,293		$	—		$	—		$	55,293

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

Schedule of changes in fair value of trading securities



	Three Months Ended March 31,
	2025			2024

	(dollars in thousands)

Balance at the beginning of the period	$	83,529		$	22,369
Paydowns		(40)			—
Premium amortization		(235)			(130)
Fair value gain (loss)		(809)			19
Balance at the end of the period	$	82,445		$	22,258

Schedule of assets measured at fair value, valuation techniques


		Quantitative Information about Level Fair Value Measurements
		Fair Value			Fair Value
		March 31,			December 31,
		2025			2024			Valuation Technique		Unobservable Input		Range

		(dollars in thousands)

Loans/leases evaluated individually		$	54,859		$	54,434		Appraisal of collateral		Appraisal adjustments		-10.00	%	to		-30.00	%
OREO			434			714		Appraisal of collateral		Appraisal adjustments		0.00	%	to		-35.00	%

Schedule of assets and liabilities measured at fair value


		Fair Value		As of March 31, 2025						As of December 31, 2024
		Hierarchy		Carrying			Estimated			Carrying			Estimated
		Level		Value			Fair Value			Value			Fair Value

				(dollars in thousands)

Cash and due from banks		Level 1		$	98,994		$	98,994		$	91,732		$	91,732
Federal funds sold		Level 2			8,900			8,900			27,150			27,150
Interest-bearing deposits at financial institutions		Level 2			216,816			216,816			143,442			143,442
Investment securities:
HTM		Level 2			874,031			791,104			835,797			800,583
AFS		Level 2			264,241			264,241			281,109			281,109
Trading		Level 3			82,445			82,445			83,529			83,529
Loans/leases receivable, net		Level 3			50,795			54,859			50,402			54,434
Loans/leases receivable, net		Level 2			6,682,018			6,394,629			6,644,161			6,325,156
Derivatives		Level 2			180,997			180,997			186,781			186,781

Deposits:
Nonmaturity deposits		Level 2			6,132,030			6,132,030			5,835,362			5,835,362
Time deposits		Level 2			1,205,360			1,203,059			1,225,825			1,222,482
Short-term borrowings		Level 2			2,050			2,050			1,800			1,800
FHLB advances		Level 2			145,383			146,082			285,383			285,196
Subordinated notes		Level 2			233,595			238,739			233,489			238,873
Junior subordinated debentures		Level 2			48,893			42,060			48,860			41,638
Derivatives		Level 2			206,925			206,925			214,823			214,823

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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