Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.2
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value measurements [Abstract]  
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis
Level 1
 
Level 2
 
Level 3
 
Total
 
Fair
 
(Dollars in Thousands)
Inputs
Inputs
Inputs
Value
June 30, 2022
ASSETS:
Securities Available for
 
Sale:
U.S. Government Treasury
$
177,895
$
-
$
-
$
177,895
U.S. Government Agency
-
210,684
-
210,684
States and Political Subdivisions
-
42,357
-
42,357
Mortgage-Backed Securities
-
77,821
-
77,821
Corporate Debt Securities
-
85,321
-
85,321
Other Securities
 
-
7,327
-
7,327
Loans Held for Sale
-
48,708
-
48,708
Interest Rate Swap Derivative
-
5,046
-
5,046
Mortgage Banking IRLC Derivative
-
-
934
934
Mortgage Servicing Rights
-
-
9,336
9,336
LIABILITIES:
Mortgage Banking Hedge Derivative
$
-
$
45
$
-
$
45
December 31, 2021
ASSETS:
Securities Available for
 
Sale:
U.S. Government Treasury
$
187,868
$
-
$
-
$
187,868
U.S. Government Agency
-
237,578
-
237,578
States and Political Subdivisions
-
46,980
-
46,980
Mortgage-Backed Securities
-
88,869
-
88,869
Corporate Debt Securities
-
86,222
-
86,222
Other Securities
-
7,094
-
7,094
Loans Held for Sale
-
52,532
-
52,532
Interest Rate Swap Derivative
-
2,050
-
2,050
Mortgage Banking IRLC Derivative
-
-
1,258
1,258
Mortgage Servicing Rights
-
-
4,718
4,718
LIABILITIES:
Mortgage Banking Hedge Derivative
$
-
$
7
$
-
$
7
Schedule of financial instruments with estimated fair values
June 30, 2022
Carrying
Level 1
Level 2
Level 3
(Dollars in Thousands)
Value
Inputs
Inputs
Inputs
ASSETS:
Cash
$
91,209
$
91,209
$
-
$
-
Short-Term Investments
603,315
603,315
-
-
Investment Securities, Available
 
for Sale
601,405
177,895
423,510
-
Investment Securities, Held to Maturity
528,258
289,708
209,255
-
Equity Securities
(1)
900
-
900
-
Loans Held for Sale
48,708
-
48,708
-
Other Equity Securities
(2)
2,848
-
2,848
-
Interest Rate Swap Derivative
5,046
-
5,046
-
Mortgage Servicing Rights
5,086
-
-
9,336
Mortgage Banking IRLC Derivative
934
-
-
934
Loans, Net of Allowance for Credit Losses
2,192,372
-
-
2,127,117
LIABILITIES:
Deposits
$
3,786,258
$
-
$
3,335,175
$
-
Short-Term
 
Borrowings
39,463
-
39,462
-
Subordinated Notes Payable
52,887
-
46,121
-
Long-Term Borrowings
612
-
627
-
Mortgage Banking Hedge Derivative
45
-
45
-
December 31, 2021
Carrying
Level 1
Level 2
Level 3
(Dollars in Thousands)
Value
Inputs
Inputs
Inputs
ASSETS:
Cash
$
65,313
$
65,313
$
-
$
-
Short-Term Investments
970,041
970,041
-
-
Investment Securities, Available
 
for Sale
654,611
187,868
466,743
-
Investment Securities, Held to Maturity
339,601
113,877
225,822
-
Equity Securities
(1)
861
-
861
-
Loans Held for Sale
52,532
-
52,532
-
Other Equity Securities
(2)
2,848
-
2,848
-
Interest Rate Swap Derivative
2,050
-
2,050
-
Mortgage Servicing Rights
3,774
-
-
4,718
Mortgage Banking IRLC Derivative
1,258
-
-
1,258
Loans, Net of Allowance for Credit Losses
1,909,859
-
-
1,903,640
LIABILITIES:
Deposits
$
3,712,862
$
-
$
3,713,478
$
-
Short-Term
 
Borrowings
34,557
-
34,557
-
Subordinated Notes Payable
52,887
-
42,609
-
Long-Term Borrowings
884
-
938
-
Mortgage Banking Hedge Derivative
7
-
7
-
Not readily marketable securities - reflected
 
in other assets.
(2)
Accounted for under the equity method – not readily
 
marketable securities – reflected in other assets.