XML 101 R59.htm IDEA: XBRL DOCUMENT v3.22.0.1

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of carrying amount and estimated fair value of financial instruments

															Fair Value Measurement Using
(Dollars in thousands)			Carrying Amount						Estimated Fair Value						Quoted Prices in Active  Markets for  Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2021
Financial assets:
Cash and due from financial institutions			$	81,506					$	81,506					$	81,506					$	—					$	—
Interest-bearing deposits in other financial institutions			247,401						247,401						247,401						—						—
Investment securities			1,631,699						1,631,699						—						1,623,080						8,619
Loans held for sale			3,531						3,531						—						3,531						—
Loans, net of ACL			5,033,552						4,741,379						—						—						4,741,379
Accrued interest receivable			16,709						16,709						16,709						—						—
Financial liabilities:
Deposits:
Noninterest-bearing deposits			2,291,246						2,291,246						2,291,246						—						—
Interest-bearing demand and savings deposits			3,641,180						3,641,180						3,641,180						—						—
Time deposits			706,732						704,645						—						—						704,645
FHLB advances and other short-term borrowings			—						—						—						—						—
Long-term debt			105,616						94,558						—						—						94,558
Accrued interest payable (included in other liabilities)			1,122						1,122						1,122						—						—

																					Fair Value Measurement Using
(Dollars in thousands)			Notional Amount						Carrying Amount						Estimated Fair Value						Quoted Prices in Active  Markets for  Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2021
Off-balance sheet financial instruments:
Commitments to extend credit			$	1,266,596					$	—					$	1,347					$	—					$	1,347					$	—
Standby letters of credit and financial guarantees written			6,634						—						100						—						100						—
Derivatives:
Back-to-back swap agreements:
Assets			33,112						435						435						—						—						435
Liabilities			33,112						(435)						(435)						—						—						(435)
Forward sale commitments			3,525						1						1						—						1						—
Risk participation agreements			37,531						(16)						(16)						—						—						(16)

															Fair Value Measurement Using
(Dollars in thousands)			Carrying Amount						Estimated Fair Value						Quoted Prices in Active  Markets for  Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2020
Financial assets:
Cash and due from financial institutions			$	97,546					$	97,546					$	97,546					$	—					$	—
Interest-bearing deposits in other financial institutions			6,521						6,521						6,521						—						—
Investment securities			1,183,960						1,183,960						1,351						1,170,283						12,326
Loans held for sale			16,687						16,687						—						16,687						—
Loans, net of ACL			4,880,844						4,795,776						—						—						4,795,776
Accrued interest receivable			20,224						20,224						20,224						—						—
Financial liabilities:
Deposits:
Noninterest-bearing deposits			1,790,269						1,790,269						1,790,269						—						—
Interest-bearing demand and savings deposits			3,106,931						3,106,931						3,106,931						—						—
Time deposits			898,918						899,562						—						—						899,562
FHLB advances and other short-term borrowings			22,000						22,000						—						22,000						—
Long-term debt			105,385						92,488						—						—						92,488
Accrued interest payable (included in other liabilities)			1,727						1,727						1,727						—						—

																					Fair Value Measurement Using
(Dollars in thousands)			Notional Amount						Carrying Amount						Estimated Fair Value						Quoted Prices in Active  Markets for  Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2020
Off-balance sheet financial instruments:
Commitments to extend credit			$	1,176,065					$	1,313					$	1,313					$	—					$	1,313					$	—
Standby letters of credit and financial guarantees written			10,544						158						158						—						158						—
Derivatives:
Interest rate lock commitments			714						18						18						—						18						—
Forward sale commitments			16,603						(115)						(115)						—						(115)						—
Risk participation agreements			37,762						(48)						(48)						—						—						(48)

Schedule of balances of assets and liabilities measured at fair value on a recurring basis

The following table below presents the fair value of assets and liabilities measured on a recurring basis:

									Fair Value at Reporting Date Using
(Dollars in thousands)			Fair Value						Quoted Prices in Active  Markets for  Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2021
Available-for-sale investment securities:
Debt securities:
States and political subdivisions			$	236,828					$	—					$	229,147					$	7,681
Corporate securities			40,646						—						40,646						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			35,334						—						35,334						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")			1,198,816						—						1,198,816						—
Residential - Non-government sponsored entities ("Non-GSEs")			12,213						—						11,275						938
Commercial - U.S. GSEs and agencies			65,849						—						65,849						—
Commercial - Non-GSEs			42,013						—						42,013						—
Total investment securities			1,631,699						—						1,623,080						8,619
Derivatives: Interest rate lock commitments, forward sale commitments, risk participation agreements, and back-to-back swap agreements			(15)						—						1						(16)
Total			$	1,631,684					$	—					$	1,623,081					$	8,603

									Fair Value at Reporting Date Using
(Dollars in thousands)			Fair Value						Quoted Prices in Active  Markets for  Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2020
Available-for-sale investment securities:
Debt securities:
States and political subdivisions			$	168,766					$	—					$	157,429					$	11,337
Corporate securities			48,008						—						48,008						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			33,145						—						33,145						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")			778,826						—						778,826						—
Residential - Non-government sponsored entities ("Non-GSEs")			23,423						—						22,434						989
Commercial - U.S. GSEs and agencies			87,469						—						87,469						—
Commercial - Non-GSEs			42,972						—						42,972						—
Equity securities			1,351						1,351						—						—
Total investment securities			1,183,960						1,351						1,170,283						12,326
Derivatives: Interest rate lock commitments, forward sale commitments, risk participation agreements, and back-to-back swap agreements			(145)						—						(97)						(48)
Total			$	1,183,815					$	1,351					$	1,170,186					$	12,278

Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

			Available-For-Sale Debt Securities:
(Dollars in thousands)			States and Political Subdivisions						Residential - Non-Government Agencies						Total
Balance as of December 31, 2019			$	11,255					$	—					$	11,255
Principal payments received			(428)						—						(428)
Purchases			—						989						989
Unrealized net gain included in other comprehensive income			510						—						510
Balance as of December 31, 2020			11,337						989						12,326
Principal payments received			(2,841)						(22)						(2,863)
Purchases			—						—						—
Unrealized net loss included in other comprehensive income			(815)						(29)						(844)
Balance as of December 31, 2021			$	7,681					$	938					$	8,619

X

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) whether recognized or not in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition and the measurements of those instruments, assets and liabilities. Such disclosures about the financial instruments, assets and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

No definition available.

+ Details

Name:	cpf_FairValueByBalanceSheetGroupingAndOffBalanceSheetRisksTableTextBlock
Namespace Prefix:	cpf_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration