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DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2022

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of fair value measurements of assets recognized in the accompanying statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements


					Fair value measurements using
					Quoted prices
					in active
					markets			Other			Significant
					for identical			observable			unobservable
					assets			inputs			inputs
		Fair value			(Level 1)			(Level 2)			(Level 3)

		(In Thousands)
September 30, 2022
Available-for-sale securities
Agency mortgage-backed securities		$	288,255		$	—		$	288,255		$	—
Agency collateralized mortgage obligations			70,776			—			70,776			—
States and political subdivisions securities			62,329			—			65,362			—
Small Business Administration securities			61,447			—			66,642			—
Interest rate derivative asset			11,627			—			11,627			—
Interest rate derivative liability			(11,321)			—			(11,321)			—

December 31, 2021
Available-for-sale securities
Agency mortgage-backed securities		$	229,441		$	—		$	229,441		$	—
Agency collateralized mortgage obligations			204,277			—			204,277			—
States and political subdivisions securities			40,015			—			40,015			—
Small Business Administration securities			27,299			—			27,299			—
Interest rate derivative asset			2,816			—			2,816			—
Interest rate derivative liability			(2,895)			—			(2,895)			—

Schedule of fair value measurements of assets measured at fair value on a nonrecurring basis


					Fair Value Measurements Using
					Quoted prices
					in active
					markets			Other			Significant
					for identical			observable			unobservable
					assets			inputs			inputs
		Fair value			(Level 1)			(Level 2)			(Level 3)

		(In Thousands)
September 30, 2022
Collateral-dependent loans		$	256		$	—		$	—		$	256

Foreclosed assets held for sale		$	—		$	—		$	—		$	—

December 31, 2021
Collateral-dependent loans		$	1,712		$	—		$	—		$	1,712

Foreclosed assets held for sale		$	315		$	—		$	—		$	315

Schedule of estimated fair values of the Company's financial instruments not recorded at fair value on the statements of financial condition


		September 30, 2022									December 31, 2021
		Carrying			Fair			Hierarchy		Carrying			Fair			Hierarchy
		Amount			Value			Level		Amount			Value			Level

		(In Thousands)
Financial assets
Cash and cash equivalents		$	189,006		$	189,006		1		$	717,267		$	717,267		1
Held-to-maturity securities			206,485			180,411		2			—			—		2
Mortgage loans held for sale			4,097			4,097		2			8,735			8,735		2
Loans, net of allowance for credit losses			4,497,109			4,422,371		3			4,007,500			4,001,362		3
Interest receivable			13,787			13,787		3			10,705			10,705		3
Investment in FHLBank stock and other assets			31,254			31,254		3			6,655			6,655		3

Financial liabilities
Deposits			4,739,118			4,721,574		3			4,552,101			4,552,202		3
Short-term borrowings			223,306			223,306		3			138,955			138,955		3
Subordinated debentures			25,774			25,774		3			25,774			25,774		3
Subordinated notes			74,207			72,188		2			73,984			81,000		2
Interest payable			2,632			2,632		3			646			646		3

Unrecognized financial instruments (net of contractual value)
Commitments to originate loans			—			—		3			—			—		3
Letters of credit			47			47		3			50			50		3
Lines of credit			—			—		3			—			—		3