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FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2022

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)
June 30, 2022
Financial assets:
Cash and due from banks			$	108,389					$	108,389					$	108,389					$	—					$	—
Interest-bearing deposits in other banks			22,741						22,741						22,741						—						—
Investment securities			1,450,738						1,422,938						—						1,415,158						7,780
Loans held for sale			535						535						—						535						—
Loans, net of ACL			5,236,422						4,689,510						—						—						4,689,510
Accrued interest receivable			17,146						17,146						17,146						—						—
Financial liabilities:
Deposits:
Noninterest-bearing demand			2,282,967						2,282,967						2,282,967						—						—
Interest-bearing demand and savings and money market			3,658,712						3,658,712						3,658,712						—						—
Time			680,382						671,198						—						—						671,198
Long-term debt			105,738						96,798						—						—						96,798
Accrued interest payable (included in other liabilities)			1,185						1,185						1,185						—						—

																					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)
June 30, 2022
Derivatives:
Forward sale commitments			$	532					$	—					$	—					$	—					$	—					$	—
Risk participation agreements			37,229						—						—						—						—						—
Back-to-back swap agreements:
Assets			32,727						2,958						2,958						—						—						2,958
Liabilities			(32,727)						(2,958)						(2,958)						—						—						(2,958)
Interest rate swap agreements			115,545						2,724						2,724						—						2,724						—
Off-balance sheet financial instruments:
Commitments to extend credit			1,376,686						—						1,378						—						1,378						—
Standby letters of credit and financial guarantees written			5,228						—						78						—						78						—

															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 banks			$	81,506					$	81,506					$	81,506					$	—					$	—
Interest-bearing deposits in other banks			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 demand			2,291,246						2,291,246						2,291,246						—						—
Interest-bearing demand and savings and money market			3,641,180						3,641,180						3,641,180						—						—
Time			706,732						704,645						—						—						704,645
Long-term debt			105,616						94,588						—						—						94,588
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
Derivatives:
Forward sale commitments			$	3,525					$	1					$	1					$	—					$	1					$	—
Risk participation agreements			37,531						(16)						(16)						—						—						(16)
Back-to-back swap agreements:
Assets			33,112						435						435						—						—						435
Liabilities			33,112						(435)						(435)						—						—						(435)
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						—

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

The following tables present the fair value of assets and liabilities measured on a recurring basis as of June 30, 2022 and December 31, 2021:

									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)
June 30, 2022
Available-for-sale securities:
Debt securities:
States and political subdivisions			$	149,113					$	—					$	142,115					$	6,998
Corporate securities			31,144						—						31,144						—
U.S. Treasury obligations and direct obligations of U.S. Government agencies			29,685						—						29,685						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			472,096						—						472,096						—
Residential - Non-government agencies			9,883						—						9,101						782
Commercial - U.S. Government-sponsored entities			54,162						—						54,162						—
Commercial - Non-government agencies			41,290						—						41,290						—
Total available-for-sale securities			787,373						—						779,593						7,780
Derivatives:
Forward sale commitments			—						—						—						—
Risk participation agreements			—						—						—						—
Back-to-back swap agreements			—						—						—						—
Interest rate swap agreements			2,724						—						2,724						—
Total			$	790,097					$	—					$	782,317					$	7,780

									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 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			1,198,816						—						1,198,816						—
Residential - Non-government agencies			12,213						—						11,275						938
Commercial - U.S. Government-sponsored entities			65,849						—						65,849						—
Commercial - Non-government agencies			42,013						—						42,013						—
Total available-for-sale securities			1,631,699						—						1,623,080						8,619
Derivatives:
Interest rate lock commitments			1						—						1						—
Forward sale commitments			(16)						—						—						(16)
Risk participation agreements			—						—						—						—
Back-to-back swap agreements			—						—						—						—
Interest rate swap agreements			—						—						—						—
Total			$	1,631,684					$	—					$	1,623,081					$	8,603

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

For the six months ended June 30, 2022 and 2021, 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 at December 31, 2021			$	7,681					$	938					$	8,619
Principal payments received			(88)						(11)						(99)
Unrealized net loss included in other comprehensive income			(595)						(145)						(740)
Balance at June 30, 2022			$	6,998					$	782					$	7,780
Balance at December 31, 2020			$	11,337					$	989					$	12,326
Principal payments received			(2,734)						(11)						(2,745)
Unrealized net loss included in other comprehensive income			(633)						(38)						(671)
Balance at June 30, 2021			$	7,970					$	940					$	8,910

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

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- 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

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- 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

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