XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.23.3

Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Carrying Values and Estimated Fair Values of Financial Instruments | The following table presents the carrying values and estimated fair values of our financial instruments as of the periods shown:
(Dollars in thousands) |  | Carrying Value |  | Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level I) |  | Significant Other Observable Inputs (Level II) |  | Significant Unobservable Inputs (Level III)
September 30, 2023 |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 587,100 |  |  | $ | 587,100 |  |  | $ | 587,100 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 311,537 |  |  | 311,537 |  |  | 98,100 |  |  | 188,797 |  |  | 24,640 |
Equity securities |  | 40,835 |  |  | 40,835 |  |  | 4,647 |  |  | — |  |  | 36,188 |
Loans held-for-sale |  | 7,603 |  |  | 7,603 |  |  | — |  |  | 7,603 |  |  | — |
Loans receivable, net |  | 2,246,157 |  |  | 2,139,689 |  |  | — |  |  | — |  |  | 2,124,865 |
Servicing rights |  | 1,736 |  |  | 1,753 |  |  | — |  |  | — |  |  | 1,753 |
Interest rate swaps |  | 12,974 |  |  | 12,974 |  |  | — |  |  | 12,974 |  |  | — |
Fair value hedge |  | 204 |  |  | 204 |  |  | — |  |  | 204 |  |  | — |
Accrued interest receivable |  | 15,630 |  |  | 15,630 |  |  | — |  |  | 2,190 |  |  | 13,440 |
FHLB Stock |  | 2,122 |  |  | 2,122 |  |  | — |  |  | 2,122 |  |  | — |
Bank-owned life insurance |  | 44,109 |  |  | 44,109 |  |  | — |  |  | 44,109 |  |  | — |
Embedded derivative |  | 648 |  |  | 648 |  |  | — |  |  | — |  |  | 648 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 3,038,889 |  |  | $ | 2,670,272 |  |  | $ | — |  |  | $ | 2,670,272 |  |  | $ | — |
Repurchase agreements |  | 4,502 |  |  | 4,502 |  |  | — |  |  | 4,502 |  |  | — |
Interest rate swaps |  | 10,609 |  |  | 10,609 |  |  | — |  |  | 10,609 |  |  | — |
Accrued interest payable |  | 2,123 |  |  | 2,123 |  |  | — |  |  | 2,123 |  |  | — |
Senior term loan |  | 8,473 |  |  | 8,363 |  |  | — |  |  | 8,363 |  |  | — |
Subordinated debt |  | 73,478 |  |  | 56,417 |  |  | — |  |  | 56,417 |  |  | — |
December 31, 2022 |  |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 40,280 |  |  | $ | 40,280 |  |  | $ | 40,280 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 379,814 |  |  | 379,814 |  |  | — |  |  | 344,471 |  |  | 35,343 |
Equity securities |  | 38,744 |  |  | 38,744 |  |  | 5,382 |  |  | — |  |  | 33,362 |
Loans held-for-sale |  | 23,126 |  |  | 24,898 |  |  | — |  |  | 24,898 |  |  | — |
Loans receivable, net |  | 2,348,808 |  |  | 2,285,427 |  |  | — |  |  | — |  |  | 2,285,427 |
Servicing rights |  | 1,616 |  |  | 1,634 |  |  | — |  |  | — |  |  | 1,634 |
Interest rate swaps |  | 8,427 |  |  | 8,427 |  |  | — |  |  | 8,427 |  |  | — |
Accrued interest receivable |  | 12,617 |  |  | 12,617 |  |  | — |  |  | 2,778 |  |  | 9,839 |
Bank-owned life insurance |  | 43,239 |  |  | 43,239 |  |  | — |  |  | 43,239 |  |  | — |
FHLB Stock |  | 9,966 |  |  | 9,966 |  |  | — |  |  | 9,966 |  |  | — |
Embedded derivative |  | 787 |  |  | 787 |  |  | — |  |  | — |  |  | 787 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,570,482 |  |  | $ | 2,226,037 |  |  | $ | — |  |  | $ | 2,226,037 |  |  | $ | — |
Repurchase agreements |  | 10,037 |  |  | 10,037 |  |  | — |  |  | 10,037 |  |  | — |
Fair value hedge |  | 572 |  |  | 572 |  |  | — |  |  | 572 |  |  | — |
Interest rate swaps |  | 8,427 |  |  | 8,427 |  |  | — |  |  | 8,427 |  |  | — |
Accrued interest payable |  | 2,558 |  |  | 2,558 |  |  | — |  |  | 2,558 |  |  | — |
FHLB and other borrowings |  | 102,333 |  |  | 102,006 |  |  | — |  |  | 102,006 |  |  | — |
Senior term loan |  | 9,765 |  |  | 9,765 |  |  | — |  |  | 9,765 |  |  | — |
Subordinated debt |  | 73,286 |  |  | 64,330 |  |  | — |  |  | 64,330 |  |  | — |

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