FAIR VALUE MEASUREMENTS (Tables) |
9 Months Ended |
|---|---|
Sep. 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
September 30, 2023
ASSETS:
Securities Available for
U.S. Government Treasury
$
20,309
$
-
$
-
$
20,309
U.S. Government Agency
-
148,962
-
148,962
States and Political Subdivisions
-
40,195
-
40,195
Mortgage-Backed Securities
-
60,602
-
60,602
Corporate Debt Securities
-
55,725
-
55,725
Equity Securities
-
508
-
508
Loans Held for Sale
-
34,013
-
34,013
Interest Rate Swap Derivative
-
6,748
-
6,748
Mortgage Banking Hedge Derivative
-
180
-
180
Mortgage Banking IRLC Derivative
-
-
859
859
December 31, 2022
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 |
September 30, 2023
Carrying
Level 1
Level 2
Level 3
(Dollars in Thousands)
Value
Inputs
Inputs
Inputs
ASSETS:
Cash
$
72,379
$
72,379
$
-
$
-
Short-Term Investments
95,119
95,119
-
-
Investment Securities, Held to Maturity
632,076
433,150
149,498
-
Equity Securities
(1)
3,077
-
3,077
-
Other Equity Securities
(2)
2,848
-
2,848
-
Mortgage Servicing Rights
704
-
-
1,182
Loans, Net of Allowance for Credit Losses
2,676,098
-
-
2,472,305
LIABILITIES:
Deposits
$
3,540,445
$
-
$
3,081,702
$
-
Short-Term
41,696
-
41,696
-
Subordinated Notes Payable
52,887
-
44,910
-
Long-Term Borrowings
364
-
362
-
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.
(2)
Accounted for under the equity method – not readily
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