Quarterly report [Sections 13 or 15(d)]

Note 12 - Fair Value Measurement (Tables)

v3.25.2
Note 12 - Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
   

Fair Value Measurements at June 30, 2025 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 debt securities:

                               

U.S. Treasury securities

  $ 701,482     $ -     $ -     $ 701,482  

Mortgage-backed securities

    -       178,151       -       178,151  

State and municipal securities

    -       9,639       -       9,639  

Corporate debt

    -       338,579       -       338,579  

Total available-for-sale debt securities

    701,482       526,369       -       1,227,851  

Total assets at fair value

  $ 701,482     $ 526,369     $ -     $ 1,227,851  
   

Fair Value Measurements at December 31, 2024 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 debt securities:

                               

U.S. Treasury securities

  $ 617,486     $ -     $ -     $ 617,486  

Government agency securities

    -       -       -       -  

Mortgage-backed securities

    -       219,274       -       219,274  

State and municipal securities

    -       9,517       -       9,517  

Corporate debt

    -       315,123       -       315,123  

Total available-for-sale debt securities

    617,486       543,914       -       1,161,400  

Total assets at fair value

  $ 617,486     $ 543,914     $ -     $ 1,161,400  
Fair Value Measurements, Nonrecurring [Table Text Block]
   

Fair Value Measurements at June 30, 2025

         
   

Quoted Prices in Active Markets for Identical Assets (Level 1)

   

Significant Other Observable Inputs (Level 2)

   

Significant Unobservable Inputs (Level 3)

   

Total

 

Assets Measured on a Nonrecurring Basis:

  (In Thousands)  

Loans individually evaluated

  $ -     $ -     $ 94,792     $ 94,792  

Other real estate owned and repossessed assets

    -       -       311       311  

Total assets at fair value

  $ -     $ -     $ 95,103     $ 95,103  
   

Fair Value Measurements at December 31, 2024

         
   

Quoted Prices in Active Markets for Identical Assets (Level 1)

   

Significant Other Observable Inputs (Level 2)

   

Significant Unobservable Inputs (Level 3)

   

Total

 

Assets Measured on a Nonrecurring Basis:

  (In Thousands)  

Loans individually evaluated

  $ -     $ -     $ 95,667     $ 95,667  

Other real estate owned and repossessed assets

    -       -       2,531       2,531  

Total assets at fair value

  $ -     $ -     $ 98,198     $ 98,198  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
   

For the Three Months Ended June 30,

   

For the Six Months Ended June 30,

 
   

2025

   

2024

   

2025

   

2024

 
   

Available-for-sale Securities

   

Available-for-sale Securities

   

Available-for-sale Securities

   

Available-for-sale Securities

 
   

(In Thousands)

 

Fair value, beginning of period

  $ -     $ -     $ -     $ 6,860  

Transfers into Level 3

    -       -       -       -  

Total realized gains included in income

    -       -       -       -  

Changes in unrealized gains/losses included in other

comprehensive income for assets and liabilities still held at period-end

    -       -       -       (1,329 )

Purchases

    -       -       -       -  

Transfers out of Level 3

    -       -       -       (5,531 )

Fair value, end of period

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

June 30, 2025

 

Carrying / Notional Amount

   

Estimated Fair Value

   

Quoted Market Prices in an Active Market (Level 1)

   

Models with Significant Observable Market Parameters (Level 2)

   

Models with Significant Unobservable Market Parameters (Level 3)

 
   

(In Thousands)

 

Financial Assets:

                                       

Cash and cash equivalents

  $ 1,704,904     $ 1,704,904     $ 1,704,904     $ -     $ -  

Held to maturity U.S. Treasury securities

    249,511       236,162       236,162       -       -  

Federal funds sold

    6,000       6,000       -       6,000       -  

Held to maturity debt securities

    436,641       393,443       -       393,443       -  

Mortgage loans held for sale

    22,131       22,131       -       22,131       -  

Restricted equity securities

    12,156       12,156       -       12,156       -  

Held to maturity debt securities

    500       500       -       -       500  

Loans, net

    13,062,601       12,776,566       -       -       12,776,566  

Financial Liabilities:

                                       

Deposits

  $ 13,862,319     $ 13,860,040     $ -     $ 13,860,040     $ -  

Federal funds purchased

    1,599,135       1,599,135       -       1,599,135       -  

Other borrowings

    64,747       59,669       -       59,669       -  

December 31, 2024

 

Carrying / Notional Amount

   

Estimated Fair Value

   

Quoted Market Prices in an Active Market (Level 1)

   

Models with Significant Observable Market Parameters (Level 2)

   

Models with Significant Unobservable Market Parameters (Level 3)

 
   

(In Thousands)

 

Financial Assets:

                                       

Cash and cash equivalents

  $ 2,375,589     $ 2,375,589     $ 2,375,589     $ -     $ -  

Held to maturity U.S. Treasury securities

    249,403       229,771       229,771       -       -  

Federal funds sold

    1,045       1,045       -       1,045       -  

Held to maturity debt securities

    465,200       409,475       -       409,475       -  

Mortgage loans held for sale

    9,211       9,211       -       9,211       -  

Restricted equity securities

    11,300       11,300       -       11,300       -  

Held to maturity debt securities

    250       250       -       -       250  

Loans, net

    12,441,378       12,013,721       -       -       12,013,721  

Financial Liabilities:

                                       

Deposits

  $ 13,543,459     $ 13,540,438     $ -     $ 13,540,438     $ -  

Federal funds purchased

    1,993,728       1,993,728       -       1,993,728       -  

Other borrowings

    64,743       59,130       -       59,130       -