FAIR VALUE MEASUREMENTS (Tables) |
6 Months Ended |
|---|---|
Jun. 30, 2023 | |
| 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
(Dollars in Thousands)
Inputs
Inputs
Inputs
Value
June 30, 2023, as restated
ASSETS:
Securities Available for
U.S. Government Treasury
$
20,250
$
-
$
-
$
20,250
U.S. Government Agency
-
164,240
-
164,240
States and Political Subdivisions
-
40,879
-
40,879
Mortgage-Backed Securities
-
66,132
-
66,132
Corporate Debt Securities
-
87,364
-
87,364
Equity Securities
-
460
-
460
Loans Held for Sale
-
44,659
-
44,659
Interest Rate Swap Derivative
-
5,979
-
5,979
Mortgage Banking Hedge Derivative
-
100
-
100
Mortgage Banking IRLC Derivative
-
-
1,270
1,270
LIABILITIES:
December 31, 2022, as restated
ASSETS:
Securities Available for
U.S. Government Treasury
$
22,050
$
-
$
-
$
22,050
U.S. Government Agency
-
186,052
-
186,052
States and Political Subdivisions
-
40,329
-
40,329
Mortgage-Backed Securities
-
69,405
-
69,405
Corporate Debt Securities
-
88,236
-
88,236
Loans Held for Sale
-
26,909
-
26,909
Interest Rate Swap Derivative
-
6,195
-
6,195
Mortgage Banking Hedge Derivative
-
187
-
187
Mortgage Banking IRLC Derivative
-
-
819
819
|
| Schedule of financial instruments with estimated fair values |
(As Restated)
June 30, 2023
Carrying
Level 1
Level 2
Level 3
(Dollars in Thousands)
Value
Inputs
Inputs
Inputs
ASSETS:
Cash
$
83,679
$
83,679
$
-
$
-
Short-Term Investments
285,129
285,129
-
-
Investment Securities, Held to Maturity
641,398
432,157
163,062
-
Equity Securities
(1)
1,243
-
1,243
-
Other Equity Securities
(2)
2,848
-
2,848
-
Mortgage Servicing Rights
565
-
-
1,013
Loans, Net of Allowance for Credit Losses
2,655,269
-
-
2,476,509
LIABILITIES:
Deposits
$
3,788,866
$
-
$
3,289,733
$
-
Short-Term
50,673
-
50,673
-
Subordinated Notes Payable
52,887
-
45,563
-
Long-Term Borrowings
414
-
412
-
(As Restated)
December 31, 2022
Carrying
Level 1
Level 2
Level 3
(Dollars in Thousands)
Value
Inputs
Inputs
Inputs
ASSETS:
Cash
$
72,114
$
72,114
$
-
$
-
Short-Term Investments
528,536
528,536
-
-
Investment Securities, Held to Maturity
660,774
431,733
180,968
-
Equity Securities
(1)
10
-
10
-
Other Equity Securities
(2)
2,848
-
2,848
-
Mortgage Servicing Rights
2,599
-
-
4,491
Loans, Net of Allowance for Credit Losses
2,522,617
-
-
2,377,229
LIABILITIES:
Deposits
$
3,939,317
$
-
$
3,310,383
$
-
Short-Term
56,793
-
56,793
-
Subordinated Notes Payable
52,887
-
45,763
-
Long-Term Borrowings
513
-
513
-
Not readily marketable securities - reflected
(2)
Accounted for under the equity method – not readily
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