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Note 10 - FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 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)
September 30, 2025:
Securities AFS:
U.S. treasuries and govt. sponsored agency securities		$	14,208		$	—		$	14,208		$	—
Residential mortgage-backed and related securities			57,108			—			57,108			—
Municipal securities			161,490			—			161,490			—
Asset-backed securities			4,918			—			4,918			—
Corporate securities			33,625			—			33,625			—
Securities trading			83,225			—			—			83,225
Derivatives			207,775			—			207,775			—
Total assets measured at fair value		$	562,349		$	—		$	479,124		$	83,225

Derivatives		$	230,742		$	—		$	230,742		$	—
Total liabilities measured at fair value		$	230,742		$	—		$	230,742		$	—


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)

September 30, 2025:
Loans/leases evaluated individually		$	48,207		$	—		$	—		$	48,207
OREO			—			—			—			—
		$	48,207		$	—		$	—		$	48,207

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							Nine months ended
	September 30, 2025			September 30, 2024				September 30, 2025			September 30, 2024

	(dollars in thousands)

Balance at the beginning of the period	$	82,900		$	22,362			$	83,529		$	22,369
Trading securities purchased		—			36,670				—			36,670
Paydowns		(42)			—				(123)			—
Premium amortization		(240)			(147)				(711)			(407)
Fair value gain (loss)		607			(200)				530			53
Balance at the end of the period	$	83,225		$	58,685			$	83,225		$	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,
		2025			2024			Valuation Technique		Unobservable Input		Range

		(dollars in thousands)

Loans/leases evaluated individually		$	48,207		$	54,434		Appraisal of collateral		Appraisal adjustments		-10.00	%	to		-30.00	%
OREO			—			714		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, 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		$	77,581		$	77,581		$	91,732		$	91,732
Federal funds sold		Level 2			22,200			22,200			27,150			27,150
Interest-bearing deposits at financial institutions		Level 2			137,833			137,833			143,442			143,442
Investment securities:
HTM		Level 2			954,115			855,044			835,797			800,583
AFS		Level 2			271,349			271,349			281,109			281,109
Trading		Level 3			83,225			83,225			83,529			83,529
Loans/leases receivable, net		Level 3			50,402			48,207			50,402			54,434
Loans/leases receivable, net		Level 2			7,039,749			6,791,653			6,644,161			6,325,156
Derivatives		Level 2			207,775			207,775			186,781			186,781

Deposits:
Nonmaturity deposits		Level 2			6,138,705			6,138,705			5,835,362			5,835,362
Time deposits		Level 2			1,241,363			1,241,426			1,225,825			1,222,482
Short-term borrowings		Level 2			2,850			2,850			1,800			1,800
FHLB advances		Level 2			290,383			291,276			285,383			285,196
Other borrowings		Level 2			130,609			121,275			—			—
Subordinated notes		Level 2			234,027			237,668			233,489			238,873
Junior subordinated debentures		Level 2			48,958			42,531			48,860			41,638
Derivatives		Level 2			230,742			230,742			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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