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Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Values of Financial Instruments

Schedule of carrying amount and estimated fair values of financial instruments


		September 30, 2022
		Carrying			Fair
		Amount			Value			Level 1			Level 2			Level 3
Financial assets:
Cash and due from banks		$	64,903		$	64,903		$	64,903		$	-		$	-
Interest earning deposits with financial institutions			51,251			51,251			51,251			-			-
Securities available-for-sale			1,609,759			1,609,759			211,097			1,385,353			13,309
FHLBC and FRBC stock			19,413			19,413			-			19,413			-
Loans held-for-sale			1,297			1,297			-			1,297			-
Net loans			3,820,487			3,694,682			-			-			3,694,682
Mortgage servicing rights			11,461			11,461			-			-			11,461
Interest rate swap agreements			6,602			6,602			-			6,602			-
Interest rate lock commitments and forward contracts			188			188			-			188			-
Interest receivable on securities and loans			20,133			20,133			-			20,133			-

Financial liabilities:
Noninterest bearing deposits		$	2,098,144		$	2,098,144		$	2,098,144		$	-		$	-
Interest bearing deposits			3,183,215			3,166,428			-			3,166,428			-
Securities sold under repurchase agreements			35,497			35,497			-			35,497			-
Other short-term borrowings			25,000			25,000			-			25,000			-
Junior subordinated debentures			25,773			21,650			-			21,650			-
Subordinated debentures			59,275			51,985			-			51,985			-
Senior notes			44,559			44,469			44,469			-			-
Note payable and other borrowings			10,000			9,970			-			9,970			-
Interest rate swap agreements			12,277			12,277			-			12,277			-
Interest payable on deposits and borrowings			2,067			2,067			-			2,067			-


		December 31, 2021
		Carrying			Fair
		Amount			Value			Level 1			Level 2			Level 3
Financial assets:
Cash and due from banks		$	38,565		$	38,565		$	38,565		$	-		$	-
Interest earning deposits with financial institutions			713,542			713,542			713,542			-			-
Securities available-for-sale			1,693,632			1,693,632			202,339			1,476,057			15,236
FHLBC and FRBC stock			13,257			13,257			-			13,257			-
Loans held-for-sale			4,737			4,737			-			4,737			-
Net loans			3,376,523			3,407,596			-			-			3,407,596
Mortgage servicing rights			7,097			7,097			-			-			7,097
Interest rate swap agreements			3,494			3,494			-			3,494			-
Interest rate lock commitments and forward contracts			508			508			-			508			-
Interest receivable on securities and loans			13,431			13,431			-			13,431			-

Financial liabilities:
Noninterest bearing deposits		$	2,093,494		$	2,093,494		$	2,093,494		$	-		$	-
Interest bearing deposits			3,372,738			3,375,930			-			3,375,930			-
Securities sold under repurchase agreements			50,377			50,377			-			50,377			-
Junior subordinated debentures			25,773			18,557			-			18,557			-
Subordinated debentures			59,212			60,111			-			60,111			-
Senior notes			44,480			44,480			44,480			-			-
Note payable and other borrowings			19,074			19,411			-			19,411			-
Interest rate swap agreements			6,788			6,788			-			6,788			-
Interest payable on deposits and borrowings			1,706			1,706			-			1,706			-