v3.25.1
Note 22 - Fair Value of Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
  

March 31, 2025

 

(dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Trading

 $3,047  $  $  $3,047 

Available-for-sale

                

U.S. treasury and government agencies

    

10,676

     

10,676

 

Mortgage backed securities

                

Residential agency

    

501,700

     

501,700

 

Commercial

    

1,274

     

1,274

 

Asset backed securities

    

18

     

18

 

Corporate bonds

    

54,060

     

54,060

 

Total available-for-sale investment securities

 $  $567,728  $  $567,728 

Servicing rights

 $  $  $7,351  $7,351 

Other assets

                

Derivatives

 $  $9,985  $  $9,985 

Other liabilities

                

Derivatives

 $  $9,765  $  $9,765 
  

December 31, 2024

 

(dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Trading

 $3,309  $  $  $3,309 

Available-for-sale

                

U.S. treasury and government agencies

     30,707      30,707 

Mortgage backed securities

                

Residential agency

     503,706      503,706 

Commercial

     1,251      1,251 

Asset backed securities

     19      19 

Corporate bonds

     52,370      52,370 

Total available-for-sale investment securities

 $  $588,053  $  $588,053 

Servicing rights

 $  $  $7,918  $7,918 

Other assets

                

Derivatives

 $  $9,105  $  $9,105 

Other liabilities

                

Derivatives

 $  $8,600  $  $8,600 
Fair Value Measurements, Nonrecurring [Table Text Block]
  

March 31, 2025

 

(dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Collateral dependent loans

 $  $  $28,300  $28,300 

Foreclosed assets

        493   493 
  

December 31, 2024

 

(dollars in thousands)

 

Level 1

  

Level 2

  

Level 3

  

Total

 

Collateral dependent loans

 $  $  $34,088  $34,088 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
    

March 31, 2025

 

(dollars in thousands)

           

Weighted

 

Asset Type

Valuation Technique

Unobservable Input

 

Fair Value

  

Range

  

Average

 

Individually evaluated

Appraisal value

Property specific adjustment

 $28,300   10 - 35%  34.3%

Foreclosed assets

Appraisal value

Property specific adjustment

  493   10.0%  10.0%

Servicing rights

Discounted cash flows

Prepayment speed assumptions

  7,351   110 - 439   191 
  

Discount rate

      10.5%  10.5%
    

December 31, 2024

 

(dollars in thousands)

           

Weighted

 

Asset Type

Valuation Technique

Unobservable Input

 

Fair Value

  

Range

  

Average

 

Individually evaluated

Appraisal value

Property specific adjustment

 $34,088   10 - 35%  28.9%

Servicing rights

Discounted cash flows

Prepayment speed assumptions

  7,918   103 - 495   165 
  

Discount rate

      10.5%  10.5%
Fair Value, by Balance Sheet Grouping [Table Text Block]
  

March 31, 2025

 
  

Carrying

  

Estimated Fair Value

 

(dollars in thousands)

 

Amount

  

Level 1

  

Level 2

  

Level 3

  

Total

 

Financial Assets

                    

Cash and cash equivalents

 $82,979  $82,979  $  $  $82,979 

Investment securities held-to-maturity

  268,631      234,575      234,575 

Loans, net

  4,023,554         3,987,760   3,987,760 

Accrued interest receivable

  20,505   20,505         20,505 

Bank-owned life insurance

  36,392      36,392      36,392 

Servicing rights

  7,351         7,351   7,351 

Financial Liabilities

                    

Noninterest-bearing deposits

 $889,270  $  $889,270  $  $889,270 

Interest-bearing deposits

  2,932,499      2,932,499      2,932,499 

Time deposits

  663,522      663,919      663,919 

Short-term borrowings

  200,000   200,000         200,000 

Long-term debt

  59,098      59,379      59,379 

Accrued interest payable

  9,141   9,141         9,141 
  

December 31, 2024

 
  

Carrying

  

Estimated Fair Value

 

(dollars in thousands)

 

Amount

  

Level 1

  

Level 2

  

Level 3

  

Total

 

Financial Assets

                    

Cash and cash equivalents

 $61,239  $61,239  $  $  $61,239 

Investment securities held-to-maturity

  275,585      236,986      236,986 

Loans, net

  3,932,605         3,872,186   3,872,186 

Accrued interest receivable

  20,075   20,075         20,075 

Bank-owned life insurance

  36,033      36,033      36,033 

Servicing rights

  7,918         7,918   7,918 

Financial Liabilities

                    

Noninterest-bearing deposits

 $903,466  $  $903,466  $  $903,466 

Interest-bearing deposits

  2,767,979      2,767,979      2,767,979 

Time deposits

  706,965      696,976      696,976 

Short-term borrowings

  238,960   238,960         238,960 

Long-term debt

  59,069      59,078      59,078 

Accrued interest payable

  11,343   11,343         11,343