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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Fair value of assets and liabilities  
Schedule of Recurring Level III Assets
The following table represents recurring Level III assets:
(Dollars in thousands)Interest Rate Lock CommitmentsMunicipal SecuritiesTotal
Balance at December 31, 2020$— $43,679 $43,679 
Purchase of securities— 3,862 3,862 
Maturities/calls— (5,214)(5,214)
Unrealized gain (loss) included in other comprehensive income— (564)(564)
Balance at December 31, 2021$— $41,763 $41,763 
Balance at December 31, 2019$1,660 $37,259 $38,919 
Realized and unrealized income (loss) included in earnings(1,660)3 (1,657)
Purchase of securities— 22,228 22,228 
Maturities/calls— (15,778)(15,778)
Unrealized gain (loss) included in other comprehensive income— (33)(33)
Balance at December 31, 2020$— $43,679 $43,679 
Quantitative Information About the Level III Significant Unobservable Inputs for Assets and Liabilities Measured at Fair Value
The following tables presents quantitative information about the Level III significant unobservable inputs for assets and liabilities measured at fair value at December 31, 2021 and 2020:
 Quantitative Information about Level III Fair Value Measurements
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable Input Range
December 31, 2021
Nonrecurring measurements:
Impaired loans$21,980 
Appraisal of collateral 1
Appraisal adjustments 2
10% - 20%
   
Liquidation expense 2
5% - 10%
Other real estate owned$2,330 
Appraisal of collateral 1
Appraisal adjustments 2
10% - 20%
   
Liquidation expense 2
5% - 10%
Other debt securities$7,500 Net asset valueCost minus impairment—%
Equity securities$32,155 Net asset valueCost minus impairment—%
Recurring measurements:
Municipal securities 5
$41,763 
Appraisal of bond 3
Bond appraisal adjustment 4
1% - 20%
 Quantitative Information about Level III Fair Value Measurements
(Dollars in thousands)Fair ValueValuation TechniqueUnobservable Input Range
December 31, 2020
Nonrecurring measurements:
Impaired loans$14,098 
Appraisal of collateral 1
Appraisal adjustments 2
20% - 62%
   
Liquidation expense 2
5% - 10%
Other real estate owned$5,730 
Appraisal of collateral 1
Appraisal adjustments 2
20% - 30%
   
Liquidation expense 2
5% - 10%
Other debt securities$7,500 Net asset valueCost minus impairment—%
Equity securities$27,113 Net asset valueCost minus impairment—%
Recurring measurements:
Municipal securities 5
$43,679 
Appraisal of bond 3
Bond appraisal adjustment 4
5% - 15%
1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level III inputs which are not identifiable.
2 Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted-average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.
3 Fair value determined through independent analysis of liquidity, rating, yield and duration.
4 Appraisals may be adjusted for qualitative factors, such as local economic conditions, liquidity, marketability and legal structure.
5 Municipal securities classified as Level III instruments are comprised of TIF bonds related to certain local municipal securities.
Recurring  
Fair value of assets and liabilities  
Financial Assets and Liabilities Measured at Fair Value
The following tables present the assets reported on the consolidated statements of financial condition at their fair value on a recurring basis as of December 31, 2021 and 2020 by level within the fair value hierarchy:
 December 31, 2021
(Dollars in thousands)Level ILevel IILevel IIITotal
Assets:
     United States government agency securities$— $40,437 $— $40,437 
     United States sponsored mortgage-backed securities— 76,108 — 76,108 
     United States treasury securities— 110,389 — 110,389 
     Municipal securities— 133,249 41,763 175,012 
     Corporate debt securities— 11,142 — 11,142 
     Other debt securities— 7,500 — 7,500 
     Other securities— 878 — 878 
     Equity securities247 — — 247 
     Interest rate swap— 6,702 — 6,702 
     Fair value hedge— 1,552 — 1,552 
     Bank-owned life insurance— 42,257 — 42,257 
Liabilities:
     Interest rate swap— 6,702 — 6,702 
Fair value hedge— 807 — 807 
 December 31, 2020
(Dollars in thousands)Level ILevel IILevel IIITotal
Assets:
     United States government agency securities$— $56,992 $— $56,992 
     United States sponsored mortgage-backed securities— 95,769 — 95,769 
     United States treasury securities— 3,123 — 3,123 
     Municipal securities— 188,208 43,679 231,887 
     Corporate debt securities— 17,548 — 17,548 
     Other securities— 18,476 — 18,476 
     Equity securities472 — — 472 
     Loans held-for-sale— 1,062 — 1,062 
Interest rate swap— 13,822 — 13,822 
     Fair value hedge— 2,215 — 2,215 
Liabilities:
     Interest rate swap— 13,822 — 13,822 
     Fair value hedge— 2,141 — 2,141 
Non-recurring  
Fair value of assets and liabilities  
Financial Assets and Liabilities Measured at Fair Value
Assets measured at fair value on a nonrecurring basis as of December 31, 2021 and 2020 are included in the table below:
December 31, 2021
(Dollars in thousands)Level ILevel IILevel IIITotal
Impaired loans$— $— $21,980 $21,980 
Other real estate owned— — 2,330 2,330 
Other debt securities— — 7,500 7,500 
Equity securities— — 32,155 32,155 
December 31, 2020
(Dollars in thousands)Level ILevel IILevel IIITotal
Impaired loans$— $— $14,098 $14,098 
Other real estate owned— — 5,730 5,730 
Other debt securities— — 7,500 7,500 
Equity securities— — 27,113 27,113