XML 45 R33.htm IDEA: XBRL DOCUMENT
v3.23.3

Fair Value of Assets and Liabilities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Fair Value of Assets and Liabilities [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | Significant |  | Significant
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | Other | ​ | Other
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
Description | ​ | Fair Value | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
September 30, 2023: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available-for-sale: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 73,733 | ​ | $ | — | ​ | $ | 73,733 | ​ | $ | —
U.S. Government-sponsored enterprises (GSEs) | ​ | ​ | 60,953 | ​ | ​ | — | ​ | ​ | 60,953 | ​ | ​ | —
Municipal securities | ​ |  | 17,505 | ​ |  | — | ​ |  | 17,505 | ​ |  | —
Other debt securities | ​ |  | 30,626 | ​ |  | — | ​ |  | 30,626 | ​ |  | —
Mortgage-backed securities (GSEs) | ​ |  | 202,314 | ​ |  | — | ​ |  | 202,314 | ​ |  | —
Total securities available-for-sale | ​ | ​ | 385,131 | ​ | ​ | — | ​ | ​ | 385,131 | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 16,191 | ​ | ​ | — | ​ | ​ | 16,191 | ​ | ​ | —
Total assets at fair value | ​ | $ | 401,322 | ​ | $ | — | ​ | $ | 401,322 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments and interest rate swap agreements | ​ | $ | 17,647 | ​ | $ | — | ​ | $ | 17,647 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury | ​ | $ | 223,653 | ​ | $ | — | ​ | $ | 223,653 | ​ | $ | —
U.S. Government-sponsored enterprises (GSEs) | ​ | ​ | 1,575 | ​ | ​ | — | ​ | ​ | 1,575 | ​ | ​ | —
Municipal securities | ​ |  | 18,611 | ​ |  | — | ​ |  | 18,611 | ​ |  | —
Other debt securities | ​ |  | 30,551 | ​ |  | — | ​ |  | 30,551 | ​ |  | —
Mortgage-backed securities (GSEs) | ​ |  | 209,503 | ​ |  | — | ​ |  | 209,503 | ​ |  | —
Total securities available-for-sale | ​ | ​ | 483,893 | ​ | ​ | — | ​ | ​ | 483,893 | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 11,834 | ​ | ​ | — | ​ | ​ | 11,834 | ​ | ​ | —
Total assets at fair value | ​ | $ | 495,727 | ​ | $ | — | ​ | $ | 495,727 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivative financial instruments and interest rate swap agreements | ​ | $ | 13,110 | ​ | $ | — | ​ | $ | 13,110 | ​ | $ | —
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | Significant |  | Significant
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | Other | ​ | Other
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
​ | ​ | Fair Value | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
September 30, 2023: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Collateral dependent loans | ​ | $ | 4,315 | ​ | $ | — | ​ | $ | — | ​ | $ | 4,315
Other real estate owned | ​ |  | 271 | ​ |  | — | ​ |  | — | ​ |  | 271
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Collateral dependent loans | ​ | $ | 1,536 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,536
Other real estate owned | ​ |  | 915 | ​ |  | — | ​ |  | — | ​ |  | 915
​
Fair Value Measurement Inputs and Valuation Techniques | ​ For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  | ​ |  | Weighted | ​
​ | ​ | ​ | ​ | ​ | Valuation | ​ | Significant Other | ​ | Average of | ​
​ | ​ | Fair Value | ​ | Technique | ​ | Unobservable Input | ​ | Input | ​
September 30, 2023: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateral dependent loans | ​ | $ | 4,315 |  | Appraisal |  | Appraisal discounts |  | 39 | %
Other real estate owned | ​ |  | 271 |  | Appraisal |  | Appraisal discounts |  | 26 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateral dependent loans | ​ | $ | 1,536 |  | Appraisal |  | Appraisal discounts |  | 25 | %
Other real estate owned | ​ |  | 915 |  | Appraisal |  | Appraisal discounts |  | 29 | %
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value of the Company’s financial instruments are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements Using
​ |  | Carrying |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Estimated
​ | ​ | Amount | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Fair Value
September 30, 2023: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 400,258 |  | $ | 400,258 |  | $ | — |  | $ | — | ​ | $ | 400,258
Securities available-for-sale | ​ |  | 385,131 |  | ​ | — |  | ​ | 385,131 |  | ​ | — | ​ |  | 385,131
Securities held-to-maturity | ​ | ​ | 282,313 | ​ | ​ | — | ​ | ​ | 256,325 | ​ | ​ | — | ​ | ​ | 256,325
Other investments | ​ |  | 13,805 |  | ​ | N/A |  | ​ | N/A |  | ​ | N/A | ​ |  | N/A
Loans and leases, net and loans held for sale | ​ |  | 3,348,046 |  | ​ | — |  | ​ | — |  | ​ | 3,210,772 | ​ |  | 3,210,772
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 16,191 | ​ | ​ | — | ​ | ​ | 16,191 | ​ | ​ | — | ​ | ​ | 16,191
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ |  | ​ |  |  | ​ |  |  | ​ |  | ​ |  |
Noninterest-bearing demand deposits | ​ |  | 923,763 |  | ​ | — |  | ​ | 923,763 |  | ​ | — | ​ |  | 923,763
Interest-bearing demand deposits | ​ |  | 993,717 |  | ​ | — |  | ​ | 993,717 |  | ​ | — | ​ |  | 993,717
Money market and savings deposits | ​ |  | 1,766,409 |  | ​ | — |  | ​ | 1,766,409 |  | ​ | — | ​ |  | 1,766,409
Time deposits | ​ |  | 562,620 |  | ​ | — |  | ​ | 558,744 |  | ​ | — | ​ |  | 558,744
Borrowings | ​ | ​ | 14,117 | ​ | ​ | — | ​ | ​ | 14,117 | ​ | ​ | — | ​ | ​ | 14,117
Subordinated debt | ​ |  | 42,078 |  | ​ | — |  | ​ | — |  | ​ | 39,650 | ​ |  | 39,650
Derivative financial instruments and interest rate swap agreements | ​ |  | 17,647 |  | ​ | — |  | ​ | 17,647 |  | ​ | — | ​ |  | 17,647
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2022: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 266,424 |  | $ | 266,424 |  | $ | — |  | $ | — | ​ | $ | 266,424
Securities available-for-sale | ​ |  | 483,893 |  | ​ | — |  | ​ | 483,893 |  | ​ | — | ​ |  | 483,893
Securities held-to-maturity | ​ | ​ | 285,949 | ​ | ​ | — | ​ | ​ | 260,613 | ​ | ​ | ​ | ​ | ​ | 260,613
Other investments | ​ |  | 15,530 |  | ​ | N/A |  | ​ | N/A |  | ​ | N/A | ​ |  | N/A
Loans and leases, net and loans held for sale | ​ |  | 3,232,045 |  | ​ | — |  | ​ | — |  | ​ | 3,143,921 | ​ |  | 3,143,921
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 11,834 | ​ | ​ | — | ​ | ​ | 11,834 | ​ | ​ | — | ​ | ​ | 11,834
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ |  | ​ |  |  | ​ |  |  | ​ |  | ​ |  |
Noninterest-bearing demand deposits | ​ |  | 1,072,449 |  | ​ | — |  | ​ | 1,072,449 |  | ​ | — | ​ |  | 1,072,449
Interest-bearing demand deposits | ​ |  | 965,911 |  | ​ | — |  | ​ | 965,911 |  | ​ | — | ​ |  | 965,911
Money market and savings deposits | ​ |  | 1,583,481 |  | ​ | — |  | ​ | 1,583,481 |  | ​ | — | ​ |  | 1,583,481
Time deposits | ​ |  | 455,259 |  | ​ | — |  | ​ | 451,899 |  | ​ | — | ​ |  | 451,899
Borrowings | ​ | ​ | 41,860 | ​ | ​ | — | ​ | ​ | 41,860 | ​ | ​ | — | ​ | ​ | 41,860
Subordinated debt | ​ |  | 42,015 |  | ​ | — |  | ​ | — |  | ​ | 40,439 | ​ |  | 40,439
Derivative financial instruments and interest rate swap agreements | ​ |  | 13,110 |  | ​ | — |  | ​ | 13,110 |  | ​ | — | ​ |  | 13,110
​

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

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

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: 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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration