Annual report pursuant to Section 13 and 15(d)

Note 21 - Fair Value Measurement (Tables)

v3.20.4
Note 21 - Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2020
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
   

Fair Value Measurements at December 31, 2020 Using

 
   

Quoted Prices in

                         
   

Active Markets

   

Significant Other

   

Significant

         
   

for Identical

   

Observable Inputs

   

Unobservable

         
   

Assets (Level 1)

   

(Level 2)

   

Inputs (Level 3)

   

Total

 

Assets Measured on a Recurring Basis:

 

(In Thousands)

 

Available-for-sale securities:

                               

U.S. Treasury securities

  $ -     $ 14,357     $ -     $ 14,357  

Government agency securities

    -       15,458       -       15,458  

Mortgage-backed securities

    -       495,109       -       495,109  

State and municipal securities

    -       38,115       -       38,115  

Corporate debt

    -       323,650       -       323,650  

Total available-for-sale debt securities

    -       886,689       -       886,689  

Interest rate cap derivative

    -       139       -       139  

Total assets at fair value

  $ -     $ 886,828     $ -     $ 886,828  
   

Fair Value Measurements at December 31, 2019 Using

 
   

Quoted Prices in

                         
   

Active Markets

   

Significant Other

   

Significant

         
   

for Identical

   

Observable Inputs

   

Unobservable

         
   

Assets (Level 1)

   

(Level 2)

   

Inputs (Level 3)

   

Total

 

Assets Measured on a Recurring Basis:

 

(In Thousands)

 

Available-for-sale securities

                               

U.S. Treasury securities

  $ -     $ 49,210     $ -     $ 49,210  

Government agency securities

    -       18,386       -       18,386  

Mortgage-backed securities

    -       474,054       -       474,054  

State and municipal securities

    -       57,272       -       57,272  

Corporate debt

    -       160,477       -       160,477  

Total assets at fair value

  $ -     $ 759,399     $ -     $ 759,399  
Fair Value Measurements, Nonrecurring [Table Text Block]
   

Fair Value Measurements at December 31, 2020 Using

 
   

Quoted Prices in

                         
   

Active Markets

   

Significant Other

   

Significant

         
   

for Identical

   

Observable

   

Unobservable

         
   

Assets (Level 1)

   

Inputs (Level 2)

   

Inputs (Level 3)

   

Total

 

Assets Measured on a Nonrecurring Basis:

 

(In Thousands)

 

Loans individually evaluated

  $ -       -     $ 80,817     $ 80,817  

Other real estate owned and repossessed assets

    -       -       6,497       6,497  

Total assets at fair value

    -       -     $ 87,314     $ 87,314  
   

Fair Value Measurements at December 31, 2019 Using

 
   

Quoted Prices in

                         
   

Active Markets

   

Significant Other

   

Significant

         
   

for Identical

   

Observable

   

Unobservable

         
   

Assets (Level 1)

   

Inputs (Level 2)

   

Inputs (Level 3)

   

Total

 

Assets Measured on a Nonrecurring Basis:

 

(In Thousands)

 

Loans individually evaluated

  $ -     $ -     $ 33,344     $ 33,344  

Other real estate owned and repossessed assets

    -       -       8,178       8,178  

Total assets at fair value

  $ -     $ -     $ 41,522     $ 41,522  
Fair Value, by Balance Sheet Grouping [Table Text Block]
   

December 31,

 
   

2020

   

2019

 
   

Carrying Amount

   

Fair Value

   

Carrying Amount

   

Fair Value

 
   

(In Thousands)

 

Financial Assets:

                               

Level 1 Inputs:

                               

Cash and cash equivalents

  $ 2,209,640     $ 2,209,640     $ 530,127     $ 530,127  
                                 

Level 2 Inputs:

                               

Federal funds sold

    1,771       1,771       100,473       100,473  

Mortgage loans held for sale

    14,425       14,497       6,312       6,322  
                                 

Level 3 Inputs:

                               

Debt securities held to maturity

    250       250       250       250  

Loans, net

    8,377,746       8,387,718       7,184,867       7,132,542  
                                 

Financial Liabilities:

                               

Level 2 Inputs:

                               

Deposits

  $ 9,975,724     $ 9,987,665     $ 7,530,433     $ 7,534,984  

Federal funds purchased

    851,545       851,545       470,749       470,749  

Other borrowings

    64,748       65,560       64,703       65,048