XML 45 R33.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Fair Value of Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of 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)
June 30, 2024 |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 455,517 |  |  | $ | 455,517 |  |  | $ | 455,517 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 361,254 |  |  | 361,254 |  |  | — |  |  | 335,825 |  |  | 25,429 |
Equity securities |  | 41,261 |  |  | 41,261 |  |  | 3,775 |  |  | — |  |  | 37,486 |
Loans receivable, net |  | 2,184,709 |  |  | 2,328,900 |  |  | — |  |  | — |  |  | 2,328,900 |
Servicing rights |  | 1,570 |  |  | 1,602 |  |  | — |  |  | — |  |  | 1,602 |
Interest rate swaps |  | 7,428 |  |  | 7,428 |  |  | — |  |  | 7,428 |  |  | — |
Fair value hedge |  | 405 |  |  | 405 |  |  | — |  |  | 405 |  |  | — |
Accrued interest receivable |  | 15,815 |  |  | 15,815 |  |  | — |  |  | 3,111 |  |  | 12,704 |
FHLB Stock |  | 2,152 |  |  | 2,152 |  |  | — |  |  | 2,152 |  |  | — |
Embedded derivative |  | 648 |  |  | 648 |  |  | — |  |  | — |  |  | 648 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,882,852 |  |  | $ | 2,883,717 |  |  | $ | — |  |  | $ | 2,883,717 |  |  | $ | — |
Repurchase agreements |  | 2,366 |  |  | 2,366 |  |  | — |  |  | 2,366 |  |  | — |
Interest rate swaps |  | 7,428 |  |  | 7,428 |  |  | — |  |  | 7,428 |  |  | — |
Accrued interest payable |  | 2,594 |  |  | 2,594 |  |  | — |  |  | 2,594 |  |  | — |
Senior term loan |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Subordinated debt |  | 73,663 |  |  | 60,382 |  |  | — |  |  | 60,382 |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 398,229 |  |  | $ | 398,229 |  |  | $ | 398,229 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 345,275 |  |  | 345,275 |  |  | — |  |  | 319,530 |  |  | 25,745 |
Equity securities |  | 41,086 |  |  | 41,086 |  |  | 3,590 |  |  | — |  |  | 37,496 |
Loans held-for-sale |  | 629 |  |  | 629 |  |  | — |  |  | 629 |  |  | — |
Loans receivable, net |  | 2,295,470 |  |  | 2,230,279 |  |  | — |  |  | — |  |  | 2,230,279 |
Servicing rights |  | 1,768 |  |  | 1,799 |  |  | — |  |  | — |  |  | 1,799 |
Interest rate swaps |  | 6,249 |  |  | 6,249 |  |  | — |  |  | 6,249 |  |  | — |
Accrued interest receivable |  | 15,267 |  |  | 15,267 |  |  | — |  |  | 2,836 |  |  | 12,431 |
FHLB Stock |  | 2,094 |  |  | 2,094 |  |  | — |  |  | 2,094 |  |  | — |
Embedded derivative |  | 648 |  |  | 648 |  |  | — |  |  | — |  |  | 648 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,901,476 |  |  | $ | 2,587,246 |  |  | $ | — |  |  | $ | 2,587,246 |  |  | $ | — |
Repurchase agreements |  | 4,821 |  |  | 4,821 |  |  | — |  |  | 4,821 |  |  | — |
Interest rate swaps |  | 6,249 |  |  | 6,249 |  |  | — |  |  | 6,249 |  |  | — |
Fair value hedge |  | 6,111 |  |  | 6,111 |  |  | — |  |  | 6,111 |  |  | — |
Accrued interest payable |  | 2,385 |  |  | 2,385 |  |  | — |  |  | 2,385 |  |  | — |
FHLB and other borrowings |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Senior term loan |  | 6,786 |  |  | 6,786 |  |  | — |  |  | 6,786 |  |  | — |
Subordinated debt |  | 73,540 |  |  | 57,234 |  |  | — |  |  | 57,234 |  |  | — |

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 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