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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Summary of assets measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022 |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs |  | Total Fair Value
​ | ​ | ​ | (dollars in thousands)
Debt securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 154,515 | ​ | $ | — | ​ | $ | — | ​ | $ | 154,515
U.S. government agency | ​ | ​ | — | ​ | ​ | 55,157 | ​ | ​ | — | ​ | ​ | 55,157
Municipal | ​ | ​ | — | ​ | ​ | 243,829 | ​ | ​ | — | ​ | ​ | 243,829
Mortgage-backed: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agency residential | ​ | ​ | — | ​ | ​ | 195,441 | ​ | ​ | — | ​ | ​ | 195,441
Agency commercial | ​ | ​ | — | ​ | ​ | 132,888 | ​ | ​ | — | ​ | ​ | 132,888
Corporate | ​ | ​ | — | ​ | ​ | 61,694 | ​ | ​ | — | ​ | ​ | 61,694
Equity securities with readily determinable fair values | ​ | ​ | 3,029 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,029
Mortgage servicing rights | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10,147 | ​ | ​ | 10,147
Derivative financial assets | ​ | ​ | — | ​ | ​ | 7,610 | ​ | ​ | — | ​ | ​ | 7,610
Derivative financial liabilities | ​ | ​ | — | ​ | ​ | 6,981 | ​ | ​ | — | ​ | ​ | 6,981
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021 |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs |  | Total Fair Value
​ | ​ | ​ | (dollars in thousands)
Debt securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 108,976 | ​ | $ | — | ​ | $ | — | ​ | $ | 108,976
U.S. government agency | ​ | ​ | — | ​ | ​ | 128,105 | ​ | ​ | — | ​ | ​ | 128,105
Municipal | ​ | ​ | — | ​ | ​ | 297,077 | ​ | ​ | — | ​ | ​ | 297,077
Mortgage-backed: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agency residential | ​ | ​ | — | ​ | ​ | 179,466 | ​ | ​ | — | ​ | ​ | 179,466
Agency commercial | ​ | ​ | — | ​ | ​ | 164,061 | ​ | ​ | — | ​ | ​ | 164,061
Corporate | ​ | ​ | — | ​ | ​ | 64,483 | ​ | ​ | — | ​ | ​ | 64,483
Equity securities with readily determinable fair values | ​ | ​ | 3,443 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,443
Mortgage servicing rights | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,994 | ​ | ​ | 7,994
Derivative financial assets | ​ | ​ | — | ​ | ​ | 8,697 | ​ | ​ | — | ​ | ​ | 8,697
Derivative financial liabilities | ​ | ​ | — | ​ | ​ | 9,377 | ​ | ​ | — | ​ | ​ | 9,377
​
Schedule of quantitative information about the unobservable inputs used in recurring Level 3 fair value measurements | ​ The following tables present additional information about the unobservable inputs used in the fair value measurement of the mortgage servicing rights (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022 |  | Fair Value |  | Valuation Technique |  | Unobservable Inputs |  | Range (Weighted Average)
Mortgage servicing rights | ​ | $ | 10,147 | ​ | Discounted cash flows | ​ | Constant pre-payment rates (CPR) | ​ | 5.3% to 59.7% (8.2%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | Discount rate | ​ | 9.0% to 11.7% (9.3%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021 | ​ | Fair Value | ​ | Valuation Technique | ​ | Unobservable Inputs | ​ | Range (Weighted Average)
Mortgage servicing rights | ​ | $ | 7,994 | ​ | Discounted cash flows | ​ | Constant pre-payment rates (CPR) | ​ | 7.0% to 88.9% (11.7%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | Discount rate | ​ | 9.0% to 11.0% (9.0%)
​
Summary of assets measured at fair value on a nonrecurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022 |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs |  | Total Fair Value
​ | ​ | ​ | (dollars in thousands)
Loans held for sale | ​ | $ | — | ​ | $ | 615 | ​ | $ | — | ​ | $ | 615
Collateral-dependent impaired loans | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,460 | ​ | ​ | 17,460
Bank premises held for sale | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 235 | ​ | ​ | 235
Foreclosed assets | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,030 | ​ | ​ | 3,030
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021 |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs |  | Total Fair Value
​ | ​ | ​ | (dollars in thousands)
Loans held for sale | ​ | $ | — | ​ | $ | 4,942 | ​ | $ | — | ​ | $ | 4,942
Collateral-dependent impaired loans | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 22,423 | ​ | ​ | 22,423
Bank premises held for sale | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,452 | ​ | ​ | 1,452
Foreclosed assets | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,278 | ​ | ​ | 3,278
​
Schedule of quantitative information about the unobservable inputs used in non-recurring Level 3 fair value measurements | ​ The following tables present quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements (dollars in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022 |  | Fair Value |  | Valuation Technique |  | Unobservable Inputs |  | Range (Weighted Average)
Collateral-dependent impaired loans | ​ | $ | 17,460 | ​ | Appraisal of collateral | ​ | Appraisal adjustments | ​ | Not meaningful
Bank premises held for sale | ​ | ​ | 235 | ​ | Appraisal | ​ | Appraisal adjustments | ​ | 7% (7%)
Foreclosed assets | ​ | ​ | 3,030 | ​ | Appraisal | ​ | Appraisal adjustments | ​ | 7% (7%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021 | ​ | Fair Value | ​ | Valuation Technique | ​ | Unobservable Inputs | ​ | Range (Weighted Average)
Collateral-dependent impaired loans | ​ | $ | 22,423 | ​ | Appraisal of collateral | ​ | Appraisal adjustments | ​ | Not meaningful
Bank premises held for sale | ​ | ​ | 1,452 | ​ | Appraisal | ​ | Appraisal adjustments | ​ | 7% (7%)
Foreclosed assets | ​ | ​ | 3,278 | ​ | Appraisal | ​ | Appraisal adjustments | ​ | 7% (7%)
​
Summary information on the carrying amounts and estimated fair values of the Company's financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value | ​ | December 31, 2022 | ​ | December 31, 2021
​ | ​ | Hierarchy | ​ | Carrying | ​ | Estimated | ​ | Carrying | ​ | Estimated
​ |  | Level |  | Amount |  | Fair Value |  | Amount |  | Fair Value
​ | ​ | ​ | ​ | ​ | (dollars in thousands)
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | Level 1 | ​ | $ | 114,159 | ​ | $ | 114,159 | ​ | $ | 409,268 | ​ | $ | 409,268
Debt securities held-to-maturity | ​ | Level 2 | ​ | ​ | 541,600 | ​ | ​ | 478,801 | ​ | ​ | 336,185 | ​ | ​ | 336,027
Restricted stock | ​ | Level 3 | ​ | ​ | 7,965 | ​ | ​ | 7,965 | ​ | ​ | 2,739 | ​ | ​ | 2,739
Loans, net | ​ | Level 3 | ​ | ​ | 2,594,920 | ​ | ​ | 2,566,930 | ​ | ​ | 2,475,753 | ​ | ​ | 2,494,686
Investments in unconsolidated subsidiaries | ​ | Level 3 | ​ | ​ | 1,165 | ​ | ​ | 1,165 | ​ | ​ | 1,165 | ​ | ​ | 1,165
Accrued interest receivable | ​ | Level 2 | ​ | ​ | 19,506 | ​ | ​ | 19,506 | ​ | ​ | 14,901 | ​ | ​ | 14,901
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Time deposits | ​ | Level 3 | ​ | ​ | 262,968 | ​ | ​ | 253,619 | ​ | ​ | 328,208 | ​ | ​ | 327,779
Securities sold under agreements to repurchase | ​ | Level 2 | ​ | ​ | 43,081 | ​ | ​ | 43,081 | ​ | ​ | 61,256 | ​ | ​ | 61,256
Subordinated notes | ​ | Level 3 | ​ | ​ | 39,395 | ​ | ​ | 37,205 | ​ | ​ | 39,316 | ​ | ​ | 41,602
Junior subordinated debentures | ​ | Level 3 | ​ | ​ | 37,780 | ​ | ​ | 37,030 | ​ | ​ | 37,714 | ​ | ​ | 33,640
Accrued interest payable | ​ | Level 2 | ​ | ​ | 1,363 | ​ | ​ | 1,363 | ​ | ​ | 1,043 | ​ | ​ | 1,043
​

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 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 (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 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 (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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