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Fair Values of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Values of Financial Instruments

Schedule of carrying amount and estimated fair values of financial instruments


		June 30, 2024
		Carrying			Fair
		Amount			Value			Level 1			Level 2			Level 3
Financial assets:
Cash and due from banks		$	54,888		$	54,888		$	54,888		$	-		$	-
Interest earning deposits with financial institutions			66,004			66,004			66,004			-			-
Securities available-for-sale			1,173,661			1,173,661			191,274			967,193			15,194
FHLBC and FRBC stock			32,005			32,005			-			32,005			-
Loans held-for-sale			2,291			2,291			-			2,291			-
Net loans			3,934,326			3,857,223			-			-			3,857,223
Mortgage servicing rights			10,488			10,488			-			-			10,488
Interest rate swap and rate cap agreements			6,051			6,051			-			6,051			-
Interest rate lock commitments and forward contracts			64			64			-			64			-
Interest receivable on securities and loans			26,086			26,086			-			26,086			-

Financial liabilities:
Noninterest bearing deposits		$	1,728,487		$	1,728,487		$	1,728,487		$	-		$	-
Interest bearing deposits			2,793,241			2,783,984			-			2,783,984			-
Securities sold under repurchase agreements			46,542			46,542			-			46,542			-
Other short-term borrowings			330,000			330,000			-			330,000			-
Junior subordinated debentures			25,773			20,620			-			20,620			-
Subordinated debentures			59,425			50,075			-			50,075			-
Interest rate swap and rate cap agreements			7,827			7,827			-			7,827			-
Interest payable on deposits and borrowings			3,483			3,483			-			3,483			-


		December 31, 2023
		Carrying			Fair
		Amount			Value			Level 1			Level 2			Level 3
Financial assets:
Cash and due from banks		$	55,534		$	55,534		$	55,534		$	-		$	-
Interest earning deposits with financial institutions			44,611			44,611			44,611			-			-
Securities available-for-sale			1,192,829			1,192,829			169,574			1,007,926			15,329
FHLBC and FRBC stock			33,355			33,355			-			33,355			-
Loans held-for-sale			1,322			1,322			-			1,322			-
Net loans			3,998,689			3,876,381			-			-			3,876,381
Mortgage servicing rights			10,344			10,344			-			-			10,344
Interest rate swap and rate cap agreements			5,302			5,302			-			5,302			-
Interest receivable on securities and loans			27,159			27,159			-			27,159			-

Financial liabilities:
Noninterest bearing deposits		$	1,834,891		$	1,834,891		$	1,834,891		$	-		$	-
Interest bearing deposits			2,735,855			2,726,223			-			2,726,223			-
Securities sold under repurchase agreements			26,470			26,470			-			26,470			-
Other short-term borrowings			405,000			405,000			-			405,000			-
Junior subordinated debentures			25,773			20,361			-			20,361			-
Subordinated debentures			59,382			47,982			-			47,982			-
Interest rate swap and rate cap agreements			8,234			8,324			-			8,324			-
Interest rate lock commitments and forward contracts			10			10			-			10			-
Interest payable on deposits and borrowings			2,962			2,962			-			2,962			-