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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value |
Schedule of assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ | ​ | Fair Value Measurements Using
​ | ​ | Significant Unobservable Inputs (Level 3)
(Dollar amounts in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
U.S. Government agencies | ​ | $ | — | ​ | $ | 89,933 | ​ | $ | — | ​ | $ | 89,933
Mortgage Backed Securities-residential | ​ |  | — | ​ |  | 556,690 | ​ |  | — | ​ |  | 556,690
Mortgage Backed Securities-commercial | ​ |  | — | ​ |  | 7,284 | ​ |  | — | ​ |  | 7,284
Collateralized mortgage obligations | ​ |  | — | ​ |  | 180,956 | ​ |  | — | ​ |  | 180,956
State and municipal | ​ |  | — | ​ |  | 351,373 | ​ |  | 1,180 | ​ |  | 352,553
Municipal taxable | ​ |  | — | ​ |  | 32,628 | ​ |  | — | ​ |  | 32,628
U.S. Treasury | ​ |  | — | ​ |  | 2,151 | ​ |  | — | ​ |  | 2,151
Collateralized debt obligations | ​ |  | — | ​ |  | — | ​ |  | 3,024 | ​ |  | 3,024
TOTAL | ​ | $ | — | ​ | $ | 1,221,015 | ​ | $ | 4,204 | ​ | $ | 1,225,219
Derivative Assets | ​ | ​ | ​ | ​ | ​ | 3,608 | ​ |  |  | ​ |  |
Derivative Liabilities | ​ | ​ | ​ | ​ |  | (3,608) | ​ |  |  | ​ |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022
​ | ​ | Fair Value Measurements Using
​ | ​ | Significant Unobservable Inputs (Level 3)
(Dollar amounts in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
U.S. Government agencies | ​ | $ | — | ​ | $ | 98,473 | ​ | $ | — | ​ | $ | 98,473
Mortgage Backed Securities-residential | ​ | ​ | — | ​ | ​ | 620,248 | ​ | ​ | — | ​ | ​ | 620,248
Mortgage Backed Securities-commercial |  | ​ | — |  | ​ | 9,677 |  | ​ | — |  | ​ | 9,677
Collateralized mortgage obligations |  | ​ | — |  | ​ | 203,485 |  | ​ | — |  | ​ | 203,485
State and municipal |  | ​ | — |  | ​ | 358,608 |  | ​ | 1,545 |  | ​ | 360,153
Municipal taxable |  | ​ | — |  | ​ | 32,515 |  | ​ | — |  | ​ | 32,515
U.S. Treasury |  | ​ | — |  | ​ | 2,944 |  | ​ | — |  | ​ | 2,944
Collateralized debt obligations |  | ​ | — |  | ​ | — |  | ​ | 2,986 |  | ​ | 2,986
TOTAL | ​ | $ | — | ​ | $ | 1,325,950 | ​ | $ | 4,531 | ​ | $ | 1,330,481
Derivative Assets | ​ | ​ | ​ | ​ | ​ | 2,838 | ​ |  |  | ​ |  |
Derivative Liabilities | ​ | ​ | ​ | ​ |  | (2,838) | ​ |  |  | ​ |  |
Schedule of fair value measurements using significant unobservable inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Three Months Ended
​ | ​ | September 30, 2023
​ |  | State and |  | ​ | ​ |  | ​ | ​
​ | ​ | municipal | ​ | Collateralized | ​ | ​ | ​
(Dollar amounts in thousands) |  | obligations |  | debt obligations |  | Total
Beginning balance, July 1 | ​ | $ | 1,180 | ​ | $ | 2,941 | ​ | $ | 4,121
Total realized/unrealized gains or losses | ​ |  | ​ | ​ | ​ | ​ | ​ |  |
Included in earnings | ​ |  | — | ​ |  | — | ​ |  | —
Included in other comprehensive income | ​ |  | — | ​ |  | 83 | ​ |  | 83
Transfers | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | — | ​ |  | — | ​ |  | —
Ending balance, September 30 | ​ | $ | 1,180 | ​ | $ | 3,024 | ​ | $ | 4,204
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Nine Months Ended
​ | ​ | September 30, 2023
​ |  | State and |  | ​ | ​ |  | ​ | ​
​ | ​ | municipal | ​ | Collateralized | ​ | ​ | ​
(Dollar amounts in thousands) |  | obligations |  | debt obligations |  | Total
Beginning balance, January 1 | ​ | $ | 1,545 | ​ | $ | 2,986 | ​ | $ | 4,531
Total realized/unrealized gains or losses | ​ |  | ​ | ​ | ​ | ​ | ​ |  |
Included in earnings | ​ |  | — | ​ |  | — | ​ |  | —
Included in other comprehensive income | ​ |  | — | ​ |  | 38 | ​ |  | 38
Transfers | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | (365) | ​ |  | — | ​ |  | (365)
Ending balance, September 30 | ​ | $ | 1,180 | ​ | $ | 3,024 | ​ | $ | 4,204
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Year Ended
​ | ​ | December 31, 2022
​ | ​ | State and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | municipal | ​ | Collateralized | ​ | ​ | ​
(Dollar amounts in thousands) |  | obligations |  | debt obligations | ​ | Total
Beginning balance, January 1 | ​ | $ | 1,895 | ​ | $ | 3,359 | ​ | $ | 5,254
Total realized/unrealized gains or losses |  | ​ |  |  | ​ |  | ​ | ​ |
Included in earnings |  | ​ | — |  | ​ | — | ​ | ​ | —
Included in other comprehensive income |  | ​ | — |  | ​ | (373) | ​ | ​ | (373)
Purchases |  | ​ | — |  | ​ | — | ​ | ​ | —
Settlements |  | ​ | (350) |  | ​ | — | ​ | ​ | (350)
Ending balance, December 31 | ​ | $ | 1,545 | ​ | $ | 2,986 | ​ | $ | 4,531
Quantitative information about recurring and non-recurring Level 3 | The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at September 30, 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range |
State and municipal obligations | ​ | $ | 1,180 |  | Discounted cash flow |  | Discount rate |  | 4.04%-4.44 | %
Collateralized debt obligations | ​ | $ | 3,024 |  | Discounted cash flow |  | Discount rate |  | 7.22 | %
Collateral dependent loans | ​ | $ | 1,812 |  | Discounted cash flow |  | Discount rate for age of appraisal and market conditions |  | 0.00%-50.00 | %
​ The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range |
State and municipal obligations | ​ | $ | 1,545 |  | Discounted cash flow |  | Discount rate |  | 3.73%-4.44 | %
Collateralized debt obligations | ​ | $ | 2,986 |  | Discounted cash flow |  | Discount rate |  | 5.34 | %
Collateral dependent loans | ​ | ​ | 4,477 |  | Discounted cash flow |  | Discount rate for age of appraisal and market conditions |  | 0.00%-50.00 | %
Schedule of carrying amount and estimated fair value of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023
​ | ​ | Carrying | ​ | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks | ​ | $ | 74,668 | ​ | $ | 25,257 | ​ | $ | 49,411 | ​ | $ | — | ​ | $ | 74,668
Federal funds sold | ​ | ​ | 688 | ​ | ​ | — | ​ | ​ | 688 | ​ | ​ | — | ​ | ​ | 688
Securities available-for-sale | ​ |  | 1,225,219 | ​ |  | — | ​ |  | 1,221,015 | ​ |  | 4,204 | ​ |  | 1,225,219
Restricted stock | ​ |  | 15,398 | ​ |  | n/a |  | ​ | n/a |  | ​ | n/a |  | ​ | n/a
Loans, net | ​ |  | 3,078,592 | ​ |  | — | ​ |  | — | ​ |  | 2,901,310 | ​ |  | 2,901,310
Accrued interest receivable | ​ |  | 22,546 | ​ |  | — | ​ |  | 6,837 | ​ |  | 15,709 | ​ |  | 22,546
Deposits | ​ |  | (4,040,995) | ​ |  | — | ​ |  | (4,035,772) | ​ |  | — | ​ |  | (4,035,772)
Short-term borrowings | ​ |  | (132,734) | ​ |  | — | ​ |  | (132,734) | ​ |  | — | ​ |  | (132,734)
Other borrowings | ​ |  | (84,578) | ​ |  | — | ​ |  | (84,614) | ​ |  | — | ​ |  | (84,614)
Accrued interest payable | ​ |  | (1,929) | ​ |  | — | ​ |  | (1,929) | ​ |  | — | ​ |  | (1,929)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022
​ | ​ | Carrying | ​ | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks | ​ | $ | 222,517 | ​ | $ | 29,400 | ​ | $ | 193,117 | ​ | $ | — | ​ | $ | 222,517
Federal funds sold | ​ | ​ | 9,374 | ​ | ​ | — | ​ | ​ | 9,374 | ​ | ​ | — | ​ | ​ | 9,374
Securities available-for-sale |  | ​ | 1,330,481 |  | ​ | — |  | ​ | 1,325,950 |  | ​ | 4,531 |  | ​ | 1,330,481
Restricted stock |  | ​ | 15,378 |  | ​ | n/a |  | ​ | n/a |  | ​ | n/a |  | ​ | n/a
Loans, net |  | ​ | 3,027,659 |  | ​ | — |  | ​ | — |  | ​ | 2,930,680 |  | ​ | 2,930,680
Accrued interest receivable |  | ​ | 21,288 |  | ​ | — |  | ​ | 5,529 |  | ​ | 15,759 |  | ​ | 21,288
Deposits |  | ​ | (4,368,871) |  | ​ | — |  | ​ | (4,369,402) |  | ​ | — |  | ​ | (4,369,402)
Short-term borrowings |  | ​ | (70,875) |  | ​ | — |  | ​ | (70,875) |  | ​ | — |  | ​ | (70,875)
Other borrowings |  | ​ | (9,589) |  | ​ | — |  | ​ | (8,788) |  | ​ | — |  | ​ | (8,788)
Accrued interest payable |  | ​ | (483) |  | ​ | — |  | ​ | (483) |  | ​ | — |  | ​ | (483)
​

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + 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 for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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