Central Pacific Financial (CPF) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 19, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-31567
Entity Registrant Name	CENTRAL PACIFIC FINANCIAL CORP
Entity Incorporation, State or Country Code	HI
Entity Tax Identification Number	99-0212597
Entity Address, Address Line One	220 South King Street
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	544-0500
Title of 12(b) Security	Common stock, No Par Value
Trading Symbol	CPF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,551,800
Entity Central Index Key	0000701347
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 83,947	$ 81,506
Interest-bearing deposits in other banks	118,183	247,401
Investment securities:
Available-for-sale debt securities, at fair value	1,199,482	1,631,699
Held-to-maturity debt securities, at amortized cost; fair value of: 329,503 at March 31, 2022 and none at December 31, 2021	329,507	0
Total investment securities	1,528,989	1,631,699
Loans held for sale	4,677	3,531
Loans	5,174,837	5,101,649
Allowance for credit losses	(64,754)	(68,097)
Loans, net of allowance for credit losses	5,110,083	5,033,552
Premises and equipment, net	79,455	80,354
Accrued interest receivable	16,423	16,709
Investment in unconsolidated entities	31,092	29,679
Mortgage servicing rights	9,480	9,738
Bank-owned life insurance	167,407	169,148
Federal Home Loan Bank stock	8,943	7,964
Right-of-use lease asset	38,435	39,441
Other assets	101,705	68,367
Total assets	7,298,819	7,419,089
Deposits:
Noninterest-bearing demand	2,269,562	2,291,246
Interest-bearing demand	1,433,284	1,415,277
Savings and money market	2,197,647	2,225,903
Time	698,538	706,732
Total deposits	6,599,031	6,639,158
Long-term debt	105,677	105,616
Lease liability	39,610	40,731
Other liabilities	68,123	75,317
Total liabilities	6,812,441	6,860,822
Equity
Preferred stock, no par value, authorized 1,000,000 shares; issued and outstanding: none at March 31, 2022 and December 31, 2021	0	0
Common stock, no par value, authorized 185,000,000 shares; issued and outstanding: 27,584,929 at March 31, 2022 and 27,714,071 at December 31, 2021	421,153	426,091
Additional paid-in capital	98,270	98,073
Retained earnings	54,252	42,015
Accumulated other comprehensive loss	(87,347)	(7,960)
Total shareholders' equity	486,328	558,219
Non-controlling interest	50	48
Total equity	486,378	558,267
Total liabilities and equity	$ 7,298,819	$ 7,419,089

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares	1,000,000	1,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	185,000,000	185,000,000
Common stock, issued shares	27,584,929	27,714,071
Common stock, outstanding shares	27,584,929	27,714,071
Held to maturity, fair value	$ 329,503	$ 0

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest income:
Interest and fees on loans	$ 44,949	$ 46,074
Interest and dividends on investment securities:
Taxable interest	7,134	5,106
Tax-exempt interest	651	514
Dividends	21	18
Interest on deposits in other banks	72	10
Dividends on Federal Home Loan Bank stock	59	59
Total interest income	52,886	51,781
Interest on deposits:
Demand	112	86
Savings and money market	329	274
Time	469	588
Interest on short-term borrowings	0	2
Interest on long-term debt	1,041	1,027
Total interest expense	1,951	1,977
Net interest income	50,935	49,804
(Credit) provision for credit losses	(3,195)	(821)
Net interest income after provision for credit losses	54,130	50,625
Other operating income:
Mortgage banking income	1,172	2,970
Service charges on deposit accounts	1,861	1,478
Other service charges and fees	4,488	3,790
Income from fiduciary activities	1,154	1,231
Income from bank-owned life insurance	539	797
Other	337	445
Total other operating income	9,551	10,711
Other operating expense:
Salaries and employee benefits	20,942	19,827
Net occupancy	3,774	3,764
Equipment	1,082	1,000
Communication	806	769
Legal and professional services	2,626	2,377
Computer software	3,082	3,783
Advertising	1,150	1,658
Other	4,743	4,668
Total other operating expense	38,205	37,846
Income before income taxes	25,476	23,490
Income tax expense	6,038	5,452
Net income	$ 19,438	$ 18,038
Per common share data:
Basic earnings per common share (in dollars per share)	$ 0.70	$ 0.64
Diluted earnings per common share (in dollars per share)	0.70	0.64
Cash dividends declared (in dollars per share)	$ 0.26	$ 0.23
Shares Used in Computation [Abstract]
Basic shares (in shares)	27,591,390	28,108,648
Diluted shares (in shares)	27,874,924	28,313,014

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 19,438	$ 18,038
Other comprehensive (loss) income, net of tax:
Net change in unrealized loss on investment securities	(79,450)	(17,301)
Net change in unrealized loss on derivatives	(37)	0
Defined benefit plans	100	184
Total other comprehensive loss, net of tax	(79,387)	(17,117)
Comprehensive (loss) income	$ (59,949)	$ 921

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Shares Outstanding	Common Stock	Additional Paid-In Capital	Retained Earnings	Accum. Other Comp. Loss	Non- Controlling Interest
Balance (in shares) at Dec. 31, 2020		28,183,340
Balance at beginning of period at Dec. 31, 2020	$ 546,733		$ 442,635	$ 94,842	$ (10,920)	$ 20,128	$ 48
Increase (Decrease) in Shareholders' Equity
Net income	18,038				18,038
Other comprehensive loss	(17,117)					(17,117)
Cash dividends declared	(6,490)				(6,490)
Share-based compensation (in shares)		99,190
Share-based compensation	1,749		870	879
Balance (in shares) at Mar. 31, 2021		28,282,530
Balance at end of period at Mar. 31, 2021	$ 542,913		443,505	95,721	628	3,011	48
Balance (in shares) at Dec. 31, 2021	27,714,071	27,714,071
Balance at beginning of period at Dec. 31, 2021	$ 558,267		426,091	98,073	42,015	(7,960)	48
Increase (Decrease) in Shareholders' Equity
Net income	19,438				19,438
Other comprehensive loss	(79,387)					(79,387)
Cash dividends declared	(7,201)				(7,201)
Common stock sold by directors' deferred compensation plan (net shares)	1,114		1,114
Shares of common stock repurchased and other related costs (in shares)		(234,981)
Common stock repurchased and retired and other related costs	(6,731)		(6,731)
Share-based compensation (in shares)		105,839
Share-based compensation	876		679	197
Non-controlling interest	$ 2						2
Balance (in shares) at Mar. 31, 2022	27,584,929	27,584,929
Balance at end of period at Mar. 31, 2022	$ 486,378		$ 421,153	$ 98,270	$ 54,252	$ (87,347)	$ 50

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Cash dividends declared (in dollars per share) | $ / shares	$ 0.26
Common stock sold by directors' deferred compensation plan, net shares (in shares) | shares	40,670

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 19,438	$ 18,038
Adjustments to reconcile net income to net cash provided by operating activities:
(Credit) provision for credit losses	(3,195)	(821)
Depreciation and amortization of premises and equipment	1,756	1,608
Non-cash lease expense (benefit)	702	(28)
Cash flows from operating leases	(1,506)	(1,599)
Loss on disposal of fixed assets	1	32
Amortization of mortgage servicing rights	534	1,232
Net amortization and accretion of premium/discounts on investment securities	1,401	2,391
Share-based compensation expense	197	879
Net gain on sales of residential mortgage loans	(769)	(2,439)
Proceeds from sales of loans held for sale	31,372	57,439
Originations of loans held for sale	(31,749)	(43,547)
Equity in earnings of unconsolidated entities	(90)	(107)
Distributions from unconsolidated entities	66	181
Net decrease (increase) in cash surrender value of bank-owned life insurance	1,741	(898)
Deferred income taxes	(26,297)	(6,687)
Net tax benefit from share-based compensation	73	131
Net change in other assets and liabilities	15,735	(6,126)
Net cash provided by operating activities	9,410	19,679
Cash flows from investing activities:
Proceeds from maturities of and calls on investment securities available-for-sale	59,471	80,015
Purchases of investment securities available-for-sale	(66,610)	(139,785)
Net loan repayments (originations)	6,377	(138,572)
Purchases of loan portfolios	(79,713)	(36,059)
Purchases of bank-owned life insurance	0	(3,550)
Proceeds from bank-owned life insurance	0	499
Net purchases of premises, equipment and land	(858)	(8,961)
Contributions to unconsolidated entities	(495)	(2,736)
Net proceeds from (purchases) redemption of FHLB stock	(979)	82
Net cash used in investing activities	(82,807)	(249,067)
Cash flows from financing activities:
Net (decrease) increase in deposits	(40,127)	412,832
Net decrease in short-term borrowings	0	(22,000)
Cash dividends paid on common stock	(7,201)	(6,490)
Repurchases of common stock and other related costs	(6,731)	0
Net proceeds from issuance of common stock and stock option exercises	679	870
Net cash (used in) provided by financing activities	(53,380)	385,212
Net (decrease) increase in cash and cash equivalents	(126,777)	155,824
Cash and cash equivalents at beginning of period	328,907	104,067
Cash and cash equivalents at end of period	202,130	259,891
Cash paid during the period for:
Interest	1,266	1,681
Income taxes	3,283	2,445
Supplemental disclosure of non-cash information:
Net change in common stock held by directors’ deferred compensation plan	(1,114)	0
Net transfer of investment securities available-for-sale to held-to-maturity	$ 329,503	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements of Central Pacific Financial Corp. and Subsidiaries (herein referred to as the "Company," "we," "us," or "our") have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements and notes should be read in conjunction with the Company's consolidated financial statements and notes thereto filed on Form 10-K for the fiscal year ended December 31, 2021. In the opinion of management, all adjustments necessary for a fair presentation have been made and include all normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. In January 2020, we acquired a 50% ownership interest in a mortgage loan origination and brokerage company, Oahu HomeLoans, LLC. The bank concluded that the investment meets the consolidation requirements under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 810, "Consolidation." The bank concluded that the entity meets the definition of a variable interest entity and that we are the primary beneficiary of the variable interest entity. Accordingly, the investment has been consolidated into our financial statements. In March 2022, Oahu HomeLoans, LLC was terminated. We have 50% ownership interests in three other mortgage loan origination and brokerage companies which are accounted for using the equity method and are included in investment in unconsolidated entities: Gentry HomeLoans, LLC, Haseko HomeLoans, LLC and Island Pacific HomeLoans, LLC. We have low income housing tax credit partnership investments that are accounted for under the proportional amortization method and are included in investment in unconsolidated entities. During the first quarter of 2022, the Company invested $2.0 million in Swell Financial, Inc. ("Swell"), which included $1.5 million in other intangible assets and services provided in exchange for Swell common stock and $0.5 million in cash in exchange for Swell preferred stock. Swell intends to launch an integrated checking and line-of-credit account in the summer of 2022, with Central Pacific Bank serving as the bank sponsor. The Company does not have the ability to exercise significant influence over Swell and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The investment is included in investments in unconsolidated entities. During the second quarter of 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The investment is accounted for under the cost method and is also included in investment in unconsolidated entities. We also have other non-controlling equity investments in affiliates that are accounted for under the cost method and are included in investment in unconsolidated entities. Our investments in unconsolidated entities accounted for under the equity, proportional amortization and cost methods were $0.2 million, $25.3 million and $5.6 million, respectively, at March 31, 2022 and $0.2 million, $25.9 million and $3.6 million, respectively, at December 31, 2021. Our policy for determining impairment of these investments includes an evaluation of whether a loss in value of an investment is other than temporary. Evidence of a loss in value includes absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. We perform impairment tests whenever indicators of impairment are present. If the value of an investment declines and it is considered other than temporary, the investment is written down to its respective fair value in the period in which this determination is made. The Company sponsors the Central Pacific Bank Foundation, which is not consolidated in the Company's financial statements. Investment Securities Investments in debt securities are designated as trading, available-for-sale ("AFS"), or held-to-maturity ("HTM"). Investments in debt securities are designated as HTM only if we have the positive intent and ability to hold these securities to maturity. HTM securities are reported at amortized cost in the consolidated balance sheets. Trading securities are reported at fair value, with changes in fair value included in net income. Debt securities not classified as HTM or trading are classified as AFS and are reported at fair value, with net unrealized gains and losses, net of applicable taxes, excluded from net income and included in accumulated other comprehensive income (loss) ("AOCI"). Transfers of investment securities from AFS to HTM are accounted for at fair value as of the date of the transfer. The difference between the fair value and the par value at the date of transfer is considered a premium or discount and is accounted for accordingly. Any unrealized gain or loss at the date of the transfer is reported in AOCI, and is amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of any premium or discount, and will offset or mitigate the effect on interest income of the amortization of the premium or discount for that HTM security. Equity securities with readily determinable fair values are carried at fair value, with changes in fair value included in net income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. The Company classifies its investment securities portfolio into the following major security types: mortgage-backed securities ("MBS"), other debt securities and equity securities. The Company’s MBS portfolio is comprised primarily of residential MBS issued by United States of America ("U.S.") government entities and agencies. These securities are either explicitly or implicitly guaranteed by an agency of the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The remainder of the MBS portfolio are commercial MBS issued by U.S government entities and agencies (which there is no minimum credit rating), non-agency residential MBS (which shall meet a minimum credit rating of AAA) and non-agency commercial MBS (which shall meet a minimum credit rating of BBB and meet minimum internal credit guidelines). The Company’s other debt securities portfolio is comprised of obligations issued by U.S. government entities and agencies, obligations issued by states and political subdivisions (which shall meet a minimum credit rating of BBB), and corporate bonds (which shall meet a minimum credit rating of BBB-). Interest income on investment securities includes amortization of premiums and accretion of discounts. We amortize premiums and accrete discounts using the effective interest method over the life of the respective security instrument. Gains and losses on the sale of investment securities are recorded on the trade date and determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual status is reversed against current period interest income. There were no investment securities on nonaccrual status as of March 31, 2022 and the Company did not reverse any accrued interest against interest income during the three months ended March 31, 2022. Allowance for Credit Losses (“ACL”) for AFS Debt Securities AFS debt securities in an unrealized loss position are evaluated for impairment at least quarterly. For AFS debt securities in an unrealized loss position, the Company first assesses whether or not it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the investment security’s amortized cost basis is written down to fair value through net income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In conducting this assessment for debt securities in an unrealized loss position, management evaluates the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the investment security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in AOCI. Changes in the ACL are recorded as a provision for (or reversal of) credit losses. Losses are charged against the ACL when management believes the uncollectibility of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of March 31, 2022, the declines in market values of our AFS debt securities were primarily attributable to changes in interest rates and volatility in the financial markets. Because we have no intent to sell securities in an unrealized loss position and it is not more likely than not that we will be required to sell such securities before recovery of its amortized cost basis, we do not believe a credit loss exists and an ACL was not recorded. The Company has made a policy election to exclude accrued interest receivable from the amortized cost basis of debt securities and report accrued interest receivable together with accrued interest on loans in the consolidated balance sheets. Accrued interest receivable on AFS debt securities totaled $3.6 million and $4.6 million as of March 31, 2022 and December 31, 2021, respectively. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. ACL for HTM Debt Securities Management measures expected credit losses on HTM debt securities on a collective basis by major security type. For pools of such securities with common risk characteristics, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources. Expected credit losses for these securities are estimated using a loss rate methodology which considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Expected credit loss on each security in the HTM portfolio that do not share common risk characteristics with any of the pools of debt securities is individually measured based on net realizable value, or the difference between the discounted value of the expected future cash flows, based on the original effective interest rate, and the recorded amortized cost basis of the security. Securities in the HTM portfolio are issued by or contain collateral issued by U.S. government sponsored enterprises ("GSEs") and carry implicit guarantees from the U.S. government. Due to the implicit guarantee and the long history of no credit losses, no allowance for credit losses was recorded for these securities. Accrued interest on HTM debt securities is reported in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses. Accrued interest receivable on HTM debt securities totaled $0.6 million as of March 31, 2022. The Company did not have any accrued interest receivable on HTM debt securities as of December 31, 2021. Federal Home Loan Bank Stock We are a member of the Federal Home Loan Bank of Des Moines (the "FHLB"). The bank is required to obtain and hold a specific number of shares of capital stock of the FHLB equal to the sum of a membership investment requirement and an activity-based investment requirement. The securities are reported at cost and are presented separately in the consolidated balance sheets. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost, net of the ACL. Amortized cost is the unpaid principal amount outstanding, net of unamortized purchase premiums and discounts, unamortized deferred loan origination fees and costs and cumulative principal charge-offs. Purchase premiums and discounts are generally amortized into interest income over the contractual terms of the underlying loans using the effective interest method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the life of the related loan as an adjustment to yield and are typically amortized using the interest method over the contractual term of the loan, adjusted for actual prepayments. Deferred loan fees and costs on loans paid in full are recognized as a component of interest income on loans. Interest income on loans is accrued at the contractual rate of interest on the unpaid principal balance. Accrued interest receivable on loans totaled $12.2 million and $12.1 million at March 31, 2022 and December 31, 2021, respectively, and is reported together with accrued interest on HTM and AFS debt securities on the consolidated balance sheets. Upon adoption of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” the Company made the accounting policy election to not measure an estimate of credit losses on accrued interest receivable as the Company writes off any uncollectible accrued interest receivable in a timely manner. The Company believes modified loans due to the novel coronavirus disease ("COVID-19") pandemic have distinct risk characteristics that cause them to be monitored and assessed for credit risk differently than their unmodified counterparts. Thus, in the third quarter of 2020, the Company elected to measure a reserve on the accrued interest receivable for loans on active payment forbearance or deferral of $0.2 million, with the offset recorded to provision for credit losses. Due to the significant decline in loans on active forbearance or deferral, the Company reversed the $0.2 million reserve during the second quarter of 2021 and no longer has a reserve on accrued interest receivable as of March 31, 2022. Nonaccrual Loans The Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. Commercial, scored small business, automobile and other consumer loans are generally placed on nonaccrual status when principal and/or interest payments are 90 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. Residential mortgage and home equity loans, are generally placed on nonaccrual status when principal and/or interest payments are 120 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income should management determine that the collectability of such accrued interest is doubtful. All subsequent receipts are applied to principal outstanding and no interest income is recognized unless the financial condition and payment record of the borrowers warrant such recognition and the loan is restored to accrual status. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current for a predetermined period, normally at least six months, and full payment of principal and interest is reasonably assured. Troubled Debt Restructuring (“TDR”) A loan is accounted for and reported as a TDR when two conditions are met: 1) the borrower is experiencing financial difficulty and 2) the Company grants a concession to the borrower experiencing financial difficulty that it would not otherwise consider for a borrower or transaction with similar credit risk characteristics. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of payments, the debt’s original contractual maturity or original expected duration. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR regardless of the accrual or performance status until the loan is paid off. Expected credit losses are estimated on a collective (pool) basis when they share similar risk characteristics. If a TDR financial asset shares similar risk characteristics with other financial assets, it is evaluated with those other financial assets on a collective basis. If it does not share similar risk characteristics with other financial assets, it is evaluated individually. The Company’s ACL reflects all effects of a TDR when an individual asset is specifically identified as a reasonably expected TDR. The Company has determined that a TDR is reasonably expected no later than the point when the lender concludes that modification is the best course of action and it is at least reasonably possible that the troubled borrower will accept some form of concession from the lender to avoid a default. Reasonably expected TDRs and executed TDRs are evaluated to determine the required ACL using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan. Based on the underlying risk characteristics, TDRs performing in accordance with their modified contractual terms may be collectively evaluated. In April 2020, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (“the agencies”) issued a revised interagency statement encouraging financial institutions to work with customers affected by the COVID-19 pandemic and providing additional information regarding loan modifications. The revised interagency statement clarifies the interaction between the interagency statement issued on March 22, 2020 and the temporary relief provided by Section 4013 of the Coronavirus Aid, Relief and Economic Security ("CARES") Act. Section 4013 allows financial institutions to suspend the requirements to classify certain loan modifications as TDRs. The revised statement also provides supervisory interpretations on past due and nonaccrual regulatory reporting of loan modification programs and regulatory capital. Section 4013 and the interagency guidance were applied by the Company to loan modifications made related to the COVID-19 pandemic as eligible and appropriate. The application of the guidance reduced the number of TDRs that were reported. In December 2020, the Consolidated Appropriations Act, 2021 was signed into law. Section 541 of this legislation, “Extension of Temporary Relief From Troubled Debt Restructurings and Insurer Clarification,” extended Section 4013 of the CARES Act to the earlier of January 1, 2022 or 60 days after the termination of the national emergency declared relating to COVID-19. This relief ended on January 1, 2022. Future TDRs are indeterminable and will depend on future developments, which are highly uncertain and cannot be predicted, including the economic recovery, market volatility and other actions taken by governmental authorities and other third parties as a result of the pandemic. ACL for Loans Under the current expected credit loss methodology, the ACL for loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Our policy is to charge off a loan in the period in which the loan is deemed to be uncollectible and all interest previously accrued but not collected is reversed against current period interest income. We consider a loan to be uncollectible when it is probable that a loss has been incurred and the Company can make a reasonable estimate of the loss. In these instances, the likelihood of and/or timeframe for recovery of the amount due is uncertain, weak, or protracted. Subsequent receipts, if any, are credited first to the remaining principal, then to the ACL for loans as recoveries, and finally to unaccrued interest. The ACL for loans represents management's estimate of all expected credit losses over the expected life of our existing loan portfolio. Management estimates the ACL balance using relevant available information about the collectability of cash flows, from internal and external sources, including historical information relating to past events, current conditions, and reasonable and supportable forecasts of future economic conditions. When the Company is unable to forecast future economic events, management may revert to historical information. The Company's methodologies incorporate a reasonable and supportable forecast period of one year and revert to historical loss information on a straight-line basis over a one year reversion period. The Company maintains an ACL at an appropriate level as of a given balance sheet date to absorb management’s best estimate of expected life of loan credit losses. Historical credit loss experience provides the basis for the Company’s expected credit loss estimate. Adjustments to historical loss information may be made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, or when historical asset terms do not reflect the contractual terms of the financial assets being evaluated. The ACL methodology may also consider other adjustments to address changes in conditions, trends, and circumstances such as local industry changes that could have a significant impact on the risk profile of the loan portfolio and provide for adjustments that may not be reflected and/or captured in the historical loss data. These factors include: lending policies, imprecision in forecasting future economic conditions, loan profile, lending staff, problem loan trends, loan review, collateral, credit concentration and other internal and external factors. The Company uses the Moody’s Analytics Baseline forecast service for its economic forecast assumption. The Moody’s Analytics Baseline forecast includes both National and Hawaii specific economic indicators. The Moody’s Analytics forecast service is widely used in the industry and is reasonable and supportable. It is updated at least monthly and includes a variety of upside and downside economic scenarios from the Baseline. Generally the Company will use the most recent Baseline forecast from Moody’s as of the balance sheet date. During times of economic and market volatility or instability, the Company may include a qualitative factor for forecast imprecision that factors in other potential economic scenarios available by Moody’s Analytics or may apply overrides to its statistical models to enhance the reasonableness of its loss estimates. The ACL is measured on a collective or pool basis when similar risk characteristics exist. The Company segments its portfolio generally by Federal Financial Institutions Examination Council ("FFIEC") Call Report codes. Loan pools are further segmented by risk utilizing risk ratings or bands of payment delinquency (including TDR or non-accrual status), depending on what is most appropriate for each segment. Additional sub-segmentation may be utilized to identify groups of loans with unique risk characteristics relative to the rest of the portfolio. The Company relies on a third-party platform which offers multiple methodologies to measure historical life-of-loan losses. The Company has also developed statistical models internally to incorporate future economic conditions and forecast expected credit losses based on various macro-economic indicators such as unemployment and income levels. The Company has identified the following portfolio segments to measure the allowance for credit losses: Loan Segment Historical Lifetime Loss Method Historical Economic Reversion Method Construction Probability of Default/Loss Given Default ("PD/LGD") 2008-Present One Year One Year (straight-line basis) Commercial real estate PD/LGD 2008-Present Multi-family mortgage PD/LGD 2008-Present Commercial, financial and agricultural PD/LGD 2008-Present Home equity lines of credit Loss-Rate Migration 2008-Present Residential mortgage Loss-Rate Migration 2008-Present Consumer - other revolving Loss-Rate Migration 2008-Present Consumer - non-revolving Loss-Rate Migration 2008-Present Purchased Mainland portfolios (Dealer, Other consumer) Weighted-Average Remaining Maturity ("WARM") 2008-Present Below is a description and the risk characteristics of each segment: Construction loans Construction loans include both residential and commercial development projects. Each construction project is evaluated for economic viability and construction loans pose higher credit risks than typical secured loans. Financial strength of the borrower, completion risk (the risk that the project will not be completed on time and within budget) and geographic location are the predominant risk characteristics of this segment. Commercial real estate loans Commercial real estate loans are secured by commercial properties. The predominant risk characteristic of this segment is operating risk, which is the risk that the borrower will be unable to generate sufficient cash flows from the operation of the property. Interest rate conditions and the commercial real estate market through economic cycles also impact risk levels. Multi-family mortgage loans Multi-family mortgage loans can comprise multi-building properties with extensive amenities to a single building with no amenities. The primary risk characteristic of this segment is operating risk or the ability to generate sufficient rental cash flows from the operation of the property within the owner’s strategy and resources. Commercial, financial and agricultural loans Loans in this category consist primarily of term loans and lines of credit to small and middle-market businesses and professionals. The predominant risk characteristics of this segment are the cash flows of the business we lend to, global cash flows including guarantor liquidity, as well as economic and market conditions. The borrower’s business is typically regarded as the principal source of repayment, though our underwriting policy and practice generally requires secondary sources of support or collateral to mitigate risk. Paycheck Protection Program (“PPP”) loans are also in this category and are considered lower risk as they are guaranteed by the Small Business Administration (“SBA”) and may be forgivable in whole or in part in accordance with the requirements of the PPP. Home equity lines of credit Home equity lines of credit include fixed or floating interest rate loans and are primarily secured by single family owner-occupied primary residences in Hawaii. They are underwritten based on a minimum FICO score, maximum debt-to-income ratio, and maximum combined loan-to-value ratio. Home equity lines of credit are monitored based on credit score, delinquency, end of draw period and maturity. Residential mortgage loans Residential mortgage loans include fixed-rate and adjustable-rate loans secured by single family owner-occupied primary residences in Hawaii. Economic conditions such as unemployment levels, future changes in interest rates and other market factors impact the level of credit risk inherent in the portfolio. Consumer loans - other revolving This segment consists of consumer unsecured lines of credit. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Consumer loans - non-revolving This segment consists of consumer non-revolving (term) loans, including auto dealer loans. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Purchased consumer portfolios Credit risk for purchased consumer loans is managed on a pooled basis. The predominant risk characteristics of purchased consumer loans include current and projected economic conditions, employment and income levels, and the quality of purchased consumer loans. Below is a description of the methodologies mentioned above: Probability of Default/Loss Given Default ("PD/LGD") The PD/LGD calculation is based on a cohort methodology whereby loans in the same cohort are tracked over time to identify defaults and corresponding losses. PD/LGD analysis requires a portfolio segmented into pools, and we elected to then further sub-segment by risk characteristics suc h as Risk Rating, TDR status and Nonaccrual status to measure losses accurately. PD measures the count or dollar amount of loans that defaulted in a given cohort. LGD measures the losses related to the loans that defaulted. Total expected loss rate is calculated using the formula 'PD times LGD'. Loss-Rate Migration Loss-rate migration analysis is a cohort-based approach that measures cumulative net charge-offs over a defined time-horizon to calculate a loss rate that will be applied to the loan pool. Loss-rate migration analysis requires the portfolio to be segmented into pools then further sub-segmented by risk characteristics such as days past due, delinquency counters, T DR status and Nonaccrual status to measure loss rates accurately. The key inputs to run a loss-rate migration analysis are the length and frequency of the migration period, the dates for the migration periods to start and the number of migration periods used for the analysis. For each migration period, the analysis will determine the outstanding balance in each segment and/or sub-segment at the start of each period. These loans will then be followed for the length of the migration period to identify the amount of associated charge-offs and recoveries. A loss rate for each migration period is calculated using the formula 'net charge-offs over the period divided by beginning loan balance'. Weighted-Average Remaining Maturity ("WARM") Under the WARM methodology, lifetime losses are calculated by de

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Adopted in 2022 In May 2021, the FASB issued ASU No. 2021-04, "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options" . ASU 2021-04 addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. ASU 2021-04 is effective for fiscal years beginning after December 15, 2021 and interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU 2021-04 effective January 1, 2022 and it did not have a material impact on our consolidated financial statements. In July 2021, the FASB issued ASU No. 2021-05, "Leases (Topic 842), Lessors—Certain Leases with Variable Lease Payments" . ASU 2021-05 updates guidance in Topic 842, to restore long-standing accounting practice for certain sales-type leases with variable payments. ASU 2021-05 is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The Company adopted ASU 2021-05 effective January 1, 2022 and it did not have an impact on our consolidated financial statements as the Company does not have sale-type leases with variable payments. Impact of Other Recently Issued Accounting Pronouncements on Future Filings In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)." This ASU provides optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference LIBOR or other reference rates expected to be discontinued because of reference rate reform. Entities can (1) elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also (2) elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. Finally, entities can (3) make a one-time election to sell and/or reclassify held-to-maturity (“HTM”) debt securities that reference an interest rate affected by reference rate reform. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)," which clarifies that all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in Topic 848. The ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company will elect optional expedients above for applicable contract modifications and hedge accounting for hedging relationships that meet the stated criteria. In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method" . ASU 2022-01 updates guidance in Topic 815, to expand the current last-of-layer method, which will allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments on a prospective basis. ASU 2022-01 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is in the process of evaluating the provisions of this ASU and its effects on our consolidated financial statements, however we currently do not use the last-of-layer hedge accounting method. In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" . ASU 2022-02 updates guidance in Topic 326, to eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty and to require entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost . ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is in the process of evaluating the provisions of this ASU and its effects on our consolidated financial statements and plans on making the adoption for the upcoming effective fiscal period.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES The amortized cost, gross unrealized gains and losses, fair value and related ACL on HTM and AFS debt securities are as follows: (dollars in thousands) Amortized Gross Gross Fair ACL March 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions $ 41,730 $ — $ (1) $ 41,729 $ — Mortgage-backed securities: Residential - U.S. Government-sponsored entities $ 287,777 $ — $ (3) $ 287,774 $ — Total held-to-maturity securities $ 329,507 $ — $ (4) $ 329,503 $ — Available-for-sale: Debt securities: States and political subdivisions $ 178,137 $ 487 $ (14,443) $ 164,181 $ — Corporate securities 36,561 — (3,507) 33,054 — U.S. Treasury obligations and direct obligations of U.S Government agencies 33,275 120 (1,224) 32,171 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 926,988 220 (69,010) 858,198 — Residential - Non-government agencies 11,088 101 (281) 10,908 — Commercial - U.S. Government-sponsored entities 63,074 17 (3,733) 59,358 — Commercial - Non-government agencies 41,333 279 — 41,612 — Total available-for-sale securities $ 1,290,456 $ 1,224 $ (92,198) $ 1,199,482 $ — (dollars in thousands) Amortized Gross Gross Fair ACL December 31, 2021 Available-for-sale: Debt securities: States and political subdivisions $ 235,521 $ 3,156 $ (1,849) $ 236,828 $ — Corporate securities 41,687 24 (1,065) 40,646 — U.S. Treasury obligations and direct obligations of U.S Government agencies 35,833 69 (568) 35,334 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 1,213,910 4,899 (19,993) 1,198,816 — Residential - Non-government agencies 11,942 335 (64) 12,213 — Commercial - U.S. Government-sponsored entities 66,287 756 (1,194) 65,849 — Commercial - Non-government agencies 41,328 685 — 42,013 — Total available-for-sale securities $ 1,646,508 $ 9,924 $ (24,733) $ 1,631,699 $ — During the three months ended March 31, 2022, the Company transferred 41 investment securities that were classified as AFS to HTM. The investment securities had an amortized cost basis of $361.8 million and a fair market value of $329.5 million. On the date of transfer, these securities had a total net unrealized loss of $32.3 million. There was no impact to net income as a result of the reclassification. This transfer was to mitigate the potential future impact to capital through accumulated other comprehensive loss in consideration of a rising interest rate environment and the impact of rising rates on the market value of the investment securities. The Company believes that it maintains sufficient liquidity for future business needs and it has the positive intent and ability to hold these securities to maturity. The amortized cost and estimated fair value of our HTM and AFS debt securities at March 31, 2022 are shown below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. March 31, 2022 (dollars in thousands) Amortized Cost Fair Value Held-to-maturity: Debt securities: Due after ten years $ 41,730 $ 41,729 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 287,777 287,774 Total held-to-maturity securities $ 329,507 $ 329,503 Available-for-sale: Debt securities: Due in one year or less $ 5,614 $ 5,607 Due after one year through five years 20,250 20,432 Due after five years through ten years 83,032 78,488 Due after ten years 139,077 124,879 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 926,988 858,198 Residential - Non-government agencies 11,088 10,908 Commercial - U.S. Government-sponsored entities 63,074 59,358 Commercial - Non-government agencies 41,333 41,612 Total available-for-sale securities $ 1,290,456 $ 1,199,482 The Company did not sell any investment securities during the three months ended March 31, 2022 and 2021. Investment securities with fair value of $408.3 million and $455.8 million at March 31, 2022 and December 31, 2021, respectively, were pledged to secure public funds on deposit and other short-term borrowings. At March 31, 2022 and December 31, 2021, there were no holdings of investment securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders' equity. There were a total of 273 and 153 debt securities which were in an unrealized loss position, without an ACL, at March 31, 2022 and December 31, 2021, respectively. Th e following tables summarize AFS debt securities which were in an unrealized loss position at March 31, 2022 and December 31, 2021, aggregated by major security type and length of time in a continuous unrealized loss position. Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2022 Debt securities: States and political subdivisions $ 163,055 $ (12,432) $ 9,445 $ (2,012) $ 172,500 $ (14,444) Corporate securities 4,696 (325) 28,358 (3,182) 33,054 (3,507) U.S. Treasury obligations and direct obligations of U.S Government agencies 4,808 (54) 19,215 (1,170) 24,023 (1,224) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 951,100 (50,975) 170,132 (18,038) 1,121,232 (69,013) Residential - Non-government agencies 6,336 (137) 852 (144) 7,188 (281) Commercial - U.S. Government-sponsored entities 36,944 (1,104) 14,579 (2,629) 51,523 (3,733) Total temporarily impaired securities $ 1,166,939 $ (65,027) $ 242,581 $ (27,175) $ 1,409,520 $ (92,202) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2021 Debt securities: States and political subdivisions $ 79,360 $ (1,252) $ 10,864 $ (597) $ 90,224 $ (1,849) Corporate securities 8,633 (235) 21,960 (830) 30,593 (1,065) U.S. Treasury obligations and direct obligations of U.S Government agencies 16,103 (415) 10,891 (153) 26,994 (568) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 926,570 (15,883) 114,747 (4,110) 1,041,317 (19,993) Residential - Non-government agencies — — 938 (64) 938 (64) Commercial - U.S. Government-sponsored entities 6,313 (205) 16,281 (989) 22,594 (1,194) Total temporarily impaired securities $ 1,036,979 $ (17,990) $ 175,681 $ (6,743) $ 1,212,660 $ (24,733) The Company has evaluated its AFS investment securities that are in an unrealized loss position and has determined that the unrealized losses on the Company's investment securities are unrelated to credit quality and are primarily attributable to changes in interest rates and volatility in the financial markets since purchase. Investment securities in an unrealized loss position are evaluated on at least a quarterly basis, and include evaluating the changes in the investment securities' ratings issued by rating agencies and changes in the financial condition of the issuer. For mortgage-related securities, delinquency and loss information with respect to the underlying collateral, changes in levels of subordination for the Company's particular position within the repayment structure, and remaining credit enhancement as compared to projected credit losses of the security are also evaluated. All of the investment securities in an unrealized loss position continue to be rated investment grade by one or more major rating agencies. Because we have no intent to sell securities in an unrealized loss position and it is not more likely than not that we will be required to sell such securities before recovery of its amortized cost basis, the Company has not recorded an ACL and unrealized losses on these securities have not been recognized into income. Visa Class B Common Stock As of March 31, 2022, the Company owns 34,631 shares of Class B common stock of Visa, Inc. ("Visa"). These shares were received in 2008 as part of Visa's initial public offering ("IPO"). These shares are transferable only under limited circumstances until they can be converted into shares of the publicly traded Class A common stock. This conversion will not occur until the resolution of certain litigation, which is indemnified by Visa members. Since its IPO, Visa has funded a litigation reserve to settle these litigation claims. At its discretion, Visa may continue to increase the litigation reserve based upon a change in the

LOANS AND CREDIT QUALITY

LOANS AND CREDIT QUALITY	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
LOANS AND CREDIT QUALITY	4. LOANS AND CREDIT QUALITY Loans, excluding loans held for sale, net of ACL under ASC 326 as of March 31, 2022 and December 31, 2021 consisted of the following: (dollars in thousands) March 31, 2022 December 31, 2021 Commercial, financial and agricultural: Small Business Administration Paycheck Protection Program $ 45,938 $ 94,850 Other 544,732 530,383 Real estate: Construction 123,767 123,351 Residential mortgage 1,873,405 1,875,200 Home equity 674,625 635,721 Commercial mortgage 1,245,423 1,222,138 Consumer 669,194 624,115 Gross loans 5,177,084 5,105,758 Net deferred fees (2,247) (4,109) Total loans, net of deferred fees and costs 5,174,837 5,101,649 Allowance for credit losses (64,754) (68,097) Total loans, net of allowance for credit losses $ 5,110,083 $ 5,033,552 There are different types of risk characteristics for the loans in each portfolio segment. The construction and real estate segment's predominant risk characteristics are the collateral and the geographic location of the property collateralizing the loan, as well as the operating cash flow for the commercial real estate properties. The commercial, financial and agricultural segment's predominant risk characteristics are the cash flows of the business we lend to, the global cash flows and liquidity of the guarantors of such losses, as well as economic and market conditions. The consumer segment's predominant risk characteristics are employment and income levels as they relate to the consumer. The bank is a Small Business Administration ("SBA") approved lender and actively participated in assisting customers with loan applications for the SBA’s Paycheck Protection Program, or PPP, which was part of the CARES Act. PPP loans have a two T he SBA began accepting submissions for the initial round of PPP loans on April 3, 2020. In April 2020, the Paycheck Protection Program and Health Care Enhancement Act added an additional round of funding for the PPP. In June 2020, the Paycheck Protection Program Flexibility Act of 2020 was enacted, which among other things, gave borrowers additional time and flexibility to use PPP loan proceeds. Through the end of the second round in August 2020, the Company funded over 7,200 PPP loans totaling $558.9 million and received gross processing fees of $21.2 million. In December 2020, the Consolidated Appropriations Act, 2021 was passed which among other things, included a third round of funding and a new simplified forgiveness procedure for PPP loans of $150,000 or less. During 2021, the Company funded over 4,600 loans totaling $320.9 million in the third round, which ended on May 31, 2021, and received additional gross processing fees of $18.4 million. The Company received forgiveness payments from the SBA and paydowns from borrowers totaling over $846.8 million as of March 31, 2022. A total outstanding balance of $45.9 million and net deferred fees of $1.7 million remain as of March 31, 2022. Although the Company believes that the majority of these loans will ultimately be forgiven by the SBA in accordance with the terms of the program, there could be risks and liabilities by the Company that cannot be determined at this time. The Company did not transfer any loans to the held-for-sale category during the three months ended March 31, 2022 and 2021. The Company did not sell any loans originally held for investment during the three months ended March 31, 2022 and 2021. The Company has purchased loan portfolios, none of which were credit deteriorated since origination at the time of purchase. The following table presents loans purchased by class for the periods presented: (dollars in thousands) U.S. Mainland Consumer - Unsecured U.S. Mainland Consumer - Automobile Total Three Months Ended March 31, 2022 Purchases: Outstanding balance $ 48,142 $ 34,024 $ 82,166 (Discount) premium (4,367) 1,914 (2,453) Purchase price $ 43,775 $ 35,938 $ 79,713 Three Months Ended March 31, 2021 Purchases: Outstanding balance $ 22,534 $ 12,990 $ 35,524 (Discount) premium (131) 666 535 Purchase price $ 22,403 $ 13,656 $ 36,059 Collateral-Dependent Loans In accordance with ASC 326, a loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table presents the amortized cost basis of collateral-dependent loans by class, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of March 31, 2022 and December 31, 2021: (dollars in thousands) Secured by Secured by Secured by Total Allocated March 31, 2022 Real estate: Residential mortgage $ 6,665 $ — $ — $ 6,665 $ — Home equity 820 — — 820 — Total $ 7,485 $ — $ — $ 7,485 $ — (dollars in thousands) Secured by Secured by Secured by Total Allocated December 31, 2021 Real estate: Residential mortgage $ 8,391 $ — $ — $ 8,391 $ — Home equity 786 — — 786 — Total $ 9,177 $ — $ — $ 9,177 $ — Foreclosure Proceedings The Company had $1.0 million and $0.7 million of residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure at March 31, 2022 and December 31, 2021, respectively. The Company did not foreclose on any loans during the three months ended March 31, 2022 and 2021. The Company did not sell any foreclosed properties during the three months ended March 31, 2022 and 2021. Nonaccrual and Past Due Loans For all loan types, the Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. The following tables present by class, the aging of the recorded investment in past due loans as of March 31, 2022 and December 31, 2021. The following tables also present the amortized cost of loans on nonaccrual status for which there was no related ACL under ASC 326 as of March 31, 2022 and December 31, 2021. (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total Nonaccrual March 31, 2022 Commercial, financial and agricultural: SBA PPP $ — $ — $ — $ — $ — $ 44,231 $ 44,231 $ — Other 710 323 592 293 1,918 542,498 544,416 — Real estate: Construction — — — — — 123,317 123,317 — Residential mortgage 7,512 4,538 111 3,804 15,965 1,858,083 1,874,048 3,804 Home equity 135 138 — 820 1,093 675,233 676,326 820 Commercial mortgage — — — — — 1,243,499 1,243,499 — Consumer 3,113 555 621 419 4,708 664,292 669,000 — Total $ 11,470 $ 5,554 $ 1,324 $ 5,336 $ 23,684 $ 5,151,153 $ 5,174,837 $ 4,624 (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total Nonaccrual December 31, 2021 Commercial, financial and agricultural: SBA PPP $ — $ — $ — $ — $ — $ 91,327 $ 91,327 $ — Other 970 604 945 183 2,702 527,419 530,121 — Real estate: Construction 638 — — — 638 122,229 122,867 — Residential mortgage 5,315 — — 4,623 9,938 1,866,042 1,875,980 4,623 Home equity 234 — 44 786 1,064 636,185 637,249 786 Commercial mortgage — — — — — 1,220,204 1,220,204 — Consumer 2,444 712 374 289 3,819 620,082 623,901 — Total $ 9,601 $ 1,316 $ 1,363 $ 5,881 $ 18,161 $ 5,083,488 $ 5,101,649 $ 5,409 In accordance with the " Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)" issued in April 2020, loans with deferrals granted because of COVID-19 were not considered past due and/or reported as nonaccrual if deemed collectible during the deferral period. This relief ended on January 1, 2022. Troubled Debt Restructurings Troubled debt restructurings ("TDRs") included in nonperforming assets at March 31, 2022 consisted of five Hawaii residential mortgage loans with a principal balance of $1.1 million. There were $3.9 million of TDRs still accruing interest at March 31, 2022, $0.1 million of which were more than 90 days delinquent. At December 31, 2021, there were $4.9 million of TDRs still accruing interest, none of which were more than 90 days delinquent. The Company offers various types of concessions when modifying a loan. Concessions made to the original contractual terms of the loan typically consists of the deferral of interest and/or principal payments due to deterioration in the borrowers' financial condition . In these cases, the principal balance on the TDR had matured and/or was in default at the time of restructure, and there were no commitments to lend additional funds to the borrower during the three months ended March 31, 2022 and 2021. The Company did not modify any loans during the three months ended March 31, 2022. The Company modified one commercial, financial and agricultural loan totaling $0.6 million during the three months ended March 31,2021. The loan was paid off during the three months ended June 30, 2021. (dollars in thousands) Number of Recorded Increase in the Three Months Ended March 31, 2021 Commercial, financial and agricultural - Other 1 $ 560 $ — Total 1 $ 560 $ — No loans were modified as a TDR within the previous twelve months that subsequently defaulted during the three months ended March 31, 2022 and 2021. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans by credit risk. This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk rating of loans. Loans not meeting the following criteria that are analyzed individually as part of the described process are considered to be pass-rated loans. Special Mention. Loans classified as special mention, while still adequately protected by the borrower's capital adequacy and payment capability, exhibit distinct weakening trends and/or elevated levels of exposure to external conditions. If left unchecked or uncorrected, these potential weaknesses may result in deteriorated prospects of repayment. These exposures require management's close attention so as to avoid becoming undue or unwarranted credit exposures. Substandard. Loans classified as substandard are inadequately protected by the borrower's current financial condition and payment capability or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the orderly repayment of debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or orderly repayment in full, on the basis of current existing facts, conditions and values, highly questionable and improbable. Possibility of loss is extremely high, but because of certain important and reasonably specific factors that may work to the advantage and strengthening of the exposure, its classification as an estimated loss is deferred until its more exact status may be determined. Loss. Loans classified as loss are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean the loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. Losses are taken in the period in which they surface as uncollectible. The following table presents the amortized cost basis of the Company's loans by class, credit quality indicator and origination year as of March 31, 2022 and December 31, 2021. Revolving loans converted to term as of and during the three months ended March 31, 2022 and 2021 were not material to the total loan portfolio. Amortized Cost of Term Loans by Origination Year (dollars in thousands) 2022 2021 2020 2019 2018 Prior Amortized Cost of Revolving Loans Total March 31, 2022 Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ — $ 41,446 $ 2,785 $ — $ — $ — $ — $ 44,231 Subtotal — 41,446 2,785 — — — — 44,231 Commercial, financial and agricultural - Other: Risk Rating Pass 22,335 116,423 62,923 53,061 50,404 135,034 78,849 519,029 Special Mention 1,720 615 260 2,557 97 8,259 175 13,683 Substandard — — 1,592 320 617 8,425 750 11,704 Subtotal 24,055 117,038 64,775 55,938 51,118 151,718 79,774 544,416 Construction: Risk Rating Pass 1,386 40,722 28,751 3,165 26,372 20,169 1,841 122,406 Substandard — — — — 911 — — 911 Subtotal 1,386 40,722 28,751 3,165 27,283 20,169 1,841 123,317 Residential mortgage: Risk Rating Pass 75,178 664,439 461,369 169,718 70,625 427,838 — 1,869,167 Substandard — — 967 — — 3,914 — 4,881 Subtotal 75,178 664,439 462,336 169,718 70,625 431,752 — 1,874,048 Home equity: Risk Rating Pass 17,421 25,375 12,329 8,607 9,230 9,598 592,763 675,323 Special Mention — — — — — — 183 183 Substandard — — 175 — 79 566 — 820 Subtotal 17,421 25,375 12,504 8,607 9,309 10,164 592,946 676,326 Commercial mortgage: Risk Rating Pass 58,265 227,168 122,565 142,287 121,026 517,380 9,183 1,197,874 Special Mention — 1,174 — 5,736 1,020 9,655 — 17,585 Substandard — — — 1,737 10,227 16,076 — 28,040 Subtotal 58,265 228,342 122,565 149,760 132,273 543,111 9,183 1,243,499 Consumer: Risk Rating Pass 74,303 315,526 85,061 78,307 35,064 23,082 56,454 667,797 Special Mention — — — 163 — — — 163 Substandard — 60 44 178 83 495 — 860 Loss — — — — — 180 — 180 Subtotal 74,303 315,586 85,105 78,648 35,147 23,757 56,454 669,000 Total $ 250,608 $ 1,432,948 $ 778,821 $ 465,836 $ 325,755 $ 1,180,671 $ 740,198 $ 5,174,837 Amortized Cost of Term Loans by Origination Year (dollars in thousands) 2021 2020 2019 2018 2017 Prior Amortized Cost of Revolving Loans Total December 31, 2021 Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ 84,254 $ 7,073 $ — $ — $ — $ — $ — $ 91,327 Subtotal 84,254 7,073 — — — — — 91,327 Commercial, financial and agricultural - Other: Risk Rating Pass $ 122,729 $ 68,021 $ 56,531 $ 52,375 $ 31,817 $ 93,957 $ 79,131 $ 504,561 Special Mention 1,441 1,278 2,443 96 8,671 354 — 14,283 Substandard — 982 393 682 6,623 1,847 750 11,277 Subtotal 124,170 70,281 59,367 53,153 47,111 96,158 79,881 530,121 Construction: Risk Rating Pass 35,236 25,430 3,196 28,333 288 20,090 9,376 121,949 Substandard — — — 918 — — — 918 Subtotal 35,236 25,430 3,196 29,251 288 20,090 9,376 122,867 Residential mortgage: Risk Rating Pass 670,011 478,891 180,687 75,820 92,394 372,539 42 1,870,384 Special Mention — 973 — — — — — 973 Substandard — — — 577 881 3,165 — 4,623 Subtotal 670,011 479,864 180,687 76,397 93,275 375,704 42 1,875,980 Home equity: Risk Rating Pass 26,479 13,008 10,329 10,593 480 7,743 567,600 636,232 Special Mention — — — — — — 187 187 Substandard — 176 — 79 — 575 — 830 Subtotal 26,479 13,184 10,329 10,672 480 8,318 567,787 637,249 Commercial mortgage: Risk Rating Pass 229,108 126,169 146,584 126,014 153,041 387,751 9,472 1,178,139 Special Mention — — 3,106 3,219 283 9,455 — 16,063 Substandard — — 1,760 8,050 1,784 14,408 — 26,002 Subtotal 229,108 126,169 151,450 137,283 155,108 411,614 9,472 1,220,204 Consumer: Risk Rating Pass 308,326 96,066 91,194 41,995 20,719 9,446 55,311 623,057 Special Mention — — 181 — 10 7 — 198 Substandard 10 35 128 80 19 221 — 493 Loss — — — — — 153 — 153 Subtotal 308,336 96,101 91,503 42,075 20,748 9,827 55,311 623,901 Total $ 1,477,594 $ 818,102 $ 496,532 $ 348,831 $ 317,010 $ 921,711 $ 721,869 $ 5,101,649 The following tables present the Company's loans by class and credit quality indicator as of March 31, 2022 and December 31, 2021: (dollars in thousands) Pass Special Mention Substandard Loss Subtotal Net Deferred Fees and Costs Total March 31, 2022 Commercial, financial and agricultural: SBA PPP $ 45,938 $ — $ — $ — $ 45,938 $ (1,707) $ 44,231 Commercial, financial and agricultural: Other 519,345 13,683 11,704 — 544,732 (316) 544,416 Real estate: Construction 122,856 — 911 — 123,767 (450) 123,317 Residential mortgage 1,868,524 — 4,881 — 1,873,405 643 1,874,048 Home equity 673,622 183 820 — 674,625 1,701 676,326 Commercial mortgage 1,199,798 17,585 28,040 — 1,245,423 (1,924) 1,243,499 Consumer 667,991 163 860 180 669,194 (194) 669,000 Total $ 5,098,074 $ 31,614 $ 47,216 $ 180 $ 5,177,084 $ (2,247) $ 5,174,837 (dollars in thousands) Pass Special Mention Substandard Loss Subtotal Net Deferred Fees and Costs Total December 31, 2021 Commercial, financial and agricultural: SBA PPP $ 94,850 $ — $ — $ — $ 94,850 $ (3,523) $ 91,327 Commercial, financial and agricultural: Other 504,823 14,283 11,277 — 530,383 (262) 530,121 Real estate: Construction 122,433 — 918 — 123,351 (484) 122,867 Residential mortgage 1,869,604 973 4,623 — 1,875,200 780 1,875,980 Home equity 634,704 187 830 — 635,721 1,528 637,249 Commercial mortgage 1,180,074 16,062 26,002 — 1,222,138 (1,934) 1,220,204 Consumer 623,271 181 510 153 624,115 (214) 623,901 Total $ 5,029,759 $ 31,686 $ 44,160 $ 153 $ 5,105,758 $ (4,109) $ 5,101,649

ALLOWANCE FOR CREDIT LOSSES AND

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE	3 Months Ended
	Mar. 31, 2022
ALLOWANCE FOR LOAN AND LEASE LOSSES
ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE	5. ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURES The following table presents by class, the activity in the ACL for loans under ASC 326 during the three months ended March 31, 2022 and March 31, 2021: Commercial, Financial and Agricultural Real Estate (dollars in thousands) SBA PPP Other Construction Residential Mortgage Home Equity Commercial Mortgage Consumer Total Three Months Ended March 31, 2022 Beginning balance $ 77 $ 10,314 $ 3,908 $ 12,463 $ 4,509 $ 18,411 $ 18,415 $ 68,097 (Credit) provision for credit losses on loans (41) (848) (72) (1,532) 132 (2,356) 1,786 (2,931) Subtotal 36 9,466 3,836 10,931 4,641 16,055 20,201 65,166 Charge-offs — 254 — — — — 1,216 1,470 Recoveries — 350 — 112 — — 596 1,058 Net charge-offs (recoveries) — (96) — (112) — — 620 412 Ending balance $ 36 $ 9,562 $ 3,836 $ 11,043 $ 4,641 $ 16,055 $ 19,581 $ 64,754 Three Months Ended March 31, 2021 Beginning balance $ 304 $ 18,717 $ 4,277 $ 16,484 $ 5,449 $ 22,163 $ 15,875 $ 83,269 (Credit) provision for credit losses on loans 185 (2,733) 770 (1,233) (207) 563 1,681 (974) Subtotal 489 15,984 5,047 15,251 5,242 22,726 17,556 82,295 Charge-offs — 609 — — — — 1,098 1,707 Recoveries — 89 — 106 9 8 753 965 Net charge-offs (recoveries) — 520 — (106) (9) (8) 345 742 Ending balance $ 489 $ 15,464 $ 5,047 $ 15,357 $ 5,251 $ 22,734 $ 17,211 $ 81,553 The following table presents the activity in the reserve for off-balance sheet credit exposures, included in other liabilities, during the three months ended March 31, 2022 and March 31, 2021. (dollars in thousands) Three Months Ended March 31, 2022 Beginning balance $ 4,804 (Credit) provision for off-balance sheet credit exposures (264) Ending balance $ 4,540 Three Months Ended March 31, 2021 Beginning balance $ 4,884 Provision for off-balance sheet credit exposures 153 Ending balance $ 5,037 In accordance with GAAP, other real estate assets are not included in our assessment of the ACL. In the three months ended March 31, 2022, our provision for credit losses was a credit of $3.2 million, which consisted of a credit to the provision for credit losses on loans of $2.9 million and a credit to the provision for credit losses on off-balance sheet credit exposures of $0.3 million. In the three months ended March 31, 2021, our provision for credit loss was a credit of $0.8 million, which consisted of a credit to the provision for credit losses on loans of $1.0 million, offset by a debit to the provision for credit losses on off-balance sheet credit exposures of $0.2 million.

INVESTMENTS IN UNCONSOLIDATED S

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES	3 Months Ended
	Mar. 31, 2022
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES	6. INVESTMENTS IN UNCONSOLIDATED ENTITIES The components of the Company's investments in unconsolidated entities were as follows: (dollars in thousands) March 31, 2022 December 31, 2021 Investments in low income housing tax credit partnerships, net of amortization $ 25,309 $ 25,916 Investments in common securities of statutory trusts 1,547 1,547 Investments in affiliates 187 162 Other 4,049 2,054 Total $ 31,092 $ 29,679 The Company invests in low-income housing tax credit ("LIHTC") and other partnerships. The Company had commitments to fund LIHTC partnerships totaling $30.3 million and $30.3 million as of March 31, 2022 and December 31, 2021, respectively. Unfunded commitments related to LIHTC partnerships of $14.3 million a nd $14.3 million as of March 31, 2022 and December 31, 2021, respectively, are recorded in other liabilities in the Company's consolidated balance sheets. The investments are accounted for under the proportional amortization method and are included in investments in unconsolidated entities in the Company's consolidated balance sheets. During the first quarter of 2022, the Company invested $2.0 million in Swell Financial, Inc. ("Swell"), which included $1.5 million in other intangible assets and services provided in exchange for Swell common stock and $0.5 million in cash in exchange for Swell preferred stock. Swell intends to launch an integrated checking and line-of-credit account in the summer of 2022, with Central Pacific Bank serving as the bank sponsor. The Company does not have the ability to exercise significant influence over Swell and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The investment is included in investments in unconsolidated entities. During the second quarter of 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The Company had $1.7 million and $1.7 million in unfunded commitments related to the investment as of March 31, 2022 and December 31, 2021, respectively, which are recorded in other liabilities. The investment is accounted for under the cost method and is included in investment in unconsolidated entities. The expected payments for the unfunded commitments as of March 31, 2022 for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, LIHTC partnerships Other partnerships Total 2022 (remainder) $ 6,071 $ 1,653 $ 7,724 2023 8,128 — 8,128 2024 26 — 26 2025 6 — 6 2026 6 — 6 2027 6 — 6 Thereafter 32 — 32 Total unfunded commitments $ 14,275 $ 1,653 $ 15,928 The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the three months ended March 31, 2022 and March 31, 2021: (dollars in thousands) Three Months Ended Three Months Ended Proportional amortization method: Amortization expense recognized in income tax expense $ 607 $ 407 Tax credits recognized in income tax expense 709 474

MORTGAGE SERVICING RIGHTS

MORTGAGE SERVICING RIGHTS	3 Months Ended
	Mar. 31, 2022
OTHER INTANGIBLE ASSETS
MORTGAGE SERVICING RIGHTS	7. MORTGAGE SERVICING RIGHTS The following table presents changes in mortgage servicing rights for the periods presented: (dollars in thousands) Mortgage Balance, January 1, 2022 $ 9,738 Additions 276 Amortization (534) Balance, March 31, 2022 $ 9,480 Balance, January 1, 2021 $ 11,865 Additions 461 Amortization (1,232) Balance, March 31, 2021 $ 11,094 Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans and totaled $0.3 million for the three months ended March 31, 2022, compared to $0.5 million for the three months ended March 31, 2021. Amortization of mortgage servicing rights totaled $0.5 million f or the three months ended March 31, 2022, compared to $1.2 million for the three months ended March 31, 2021. The following tables present the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Three Months Ended Three Months Ended (dollars in thousands) March 31, 2022 March 31, 2021 Fair market value, beginning of period $ 10,504 $ 12,003 Fair market value, end of period 11,166 11,673 Weighted average discount rate 9.5 % 9.6 % Weighted average prepayment speed assumption 18.3 % 17.5 % The gross carrying value and accumulated amortization related to our mortgage servicing rights are presented below: March 31, 2022 December 31, 2021 (dollars in thousands) Gross Accumulated Net Gross Accumulated Net Mortgage servicing rights $ 72,526 $ (63,046) $ 9,480 $ 72,250 $ (62,512) $ 9,738 Based on the mortgage servicing rights held as of March 31, 2022, estimated amortization expense for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2022 (remainder) $ 1,671 2023 1,837 2024 1,506 2025 1,231 2026 1,026 2027 852 Thereafter 1,357 Total $ 9,480

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	8. DERIVATIVES We utilize various designated and undesignated derivative financial instruments to reduce our exposure to movements in interest rates. We measure all derivatives at fair value on our consolidated balance sheet. In each reporting period, we record the derivative instruments in other assets or other liabilities depending on whether the derivatives are in an asset or liability position. For derivative instruments that are designated as cash flow hedging instruments, we record the effective portion of the changes in the fair value of the derivative in AOCI, net of tax, until earnings are affected by the variability of cash flows of the hedged transaction. We immediately recognize the portion of the gain or loss in the fair value of the derivative that represents hedge ineffectiveness in current period earnings. For derivative instruments that are not designated as hedging instruments, changes in the fair value of the derivative are included in current period earnings. Interest Rate Lock and Forward Sale Commitments We enter into interest rate lock commitments on certain mortgage loans that are intended to be sold. To manage interest rate risk on interest rate lock commitments, we also enter into forward loan sale commitments. The interest rate locks and forward loan sale commitments are accounted for as undesignated derivatives and are recorded at their respective fair values in other assets or other liabilities, with changes in fair value recorded in current period earnings. These instruments serve to reduce our exposure to movements in interest rates. At March 31, 2022, we were a party to interest rate lock and forward sale commitments on $0.9 million and $5.7 million of mortgage loans, respectively. Risk Participation Agreements In the first and fourth quarters of 2020, we entered into credit risk participation agreements ("RPA") with financial institution counterparties for interest rate swaps related to loans in which we participate. The risk participation agreements entered into by us and a participant bank provide credit protection to the financial institution counterparties should the borrowers fail to perform on their interest rate derivative contracts with the financial institutions. Back-to-Back Swap Agreements The Company established a program whereby it originates a variable rate loan and enters into a variable-to-fixed interest rate swap with the customer. The Company also enters into an equal and offsetting swap with a highly rated third-party financial institution. These "back-to-back swap agreements" are intended to offset each other and allow the Company to originate a variable rate loan, while providing a contract for fixed interest payments for the customer. The net cash flow for the Company is equal to the interest income received from a variable rate loan originated with the customer. These back-to-back swap agreements are free-standing derivatives and are recorded at fair value on our consolidated balance sheet in other assets or other liabilities. During the three months ended March 31, 2022, the Company had swap agreements with its borrowers with a total notional amount of $32.9 million, offset by swap agreements with third party financial institutions with a total notional amount of $32.9 million. As of March 31, 2022, the Company was in a net cash receive position of $1.7 million for collateral of the back-to-back swap agreements. Interest Rate Swaps During the first quarter of 2022, the Company entered into a forward starting interest rate swap, with an effective date of March 31, 2024. This transaction had a notional amount totaling $115.5 million as of March 31, 2022, and was designated as a fair value hedge of certain municipal debt securities. The Company will pay the counterparty a fixed rate of 2.095% and will receive a floating rate based on the Federal Funds effective rate. The fair value hedge has a maturity date of March 31, 2029. The interest rate swap is carried on the Company’s consolidated balance sheet at its fair value in other assets (when the fair value is positive) or in other liabilities (when the fair value is negative). The changes in the fair value of the interest rate swap are recorded in interest income. The unrealized gains or losses due to changes in fair value of the hedged debt securities due to changes in benchmark interest rates are recorded as an adjustment to the hedged debt securities and offset in the same interest income line item. The following table presents the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheets: Derivative Financial Instruments Not Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate lock and forward sale commitments Other assets / other liabilities $ 149 $ 5 $ 5 $ 4 Risk participation agreements Other assets / other liabilities — — — 16 Back-to-back swap agreements Other assets / other liabilities 1,624 435 1,624 435 Derivative Financial Instruments Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate swap Other assets / other liabilities $ — $ — $ 50 $ — The following table presents the impact of derivative instruments and their location within the consolidated statements of income: Derivative Financial Instruments Location of Gain (Loss) Amount of Gain (Loss) (dollars in thousands) Three Months Ended March 31, 2022 Interest rate lock and forward sale commitments Mortgage banking income 143 Loans held for sale Other income (63) Risk participation agreements Other service charges and fees 16 Back-to-back swap agreements Other service charges and fees — Three Months Ended March 31, 2021 Interest rate lock and forward sale commitments Mortgage banking income 180 Loans held for sale Other income (1) Risk participation agreements Other service charges and fees — Back-to-back swap agreements Other service charges and fees 31

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9. SHORT-TERM BORROWINGS AND LONG-TERM DEBT Federal Home Loan Bank Advances and Other Borrowings The bank is a member of the Federal Home Loan Bank of Des Moines (the "FHLB") and maintained a $1.92 billion line of credit as of March 31, 2022, compared to $1.83 billion at December 31, 2021. At March 31, 2022, $1.89 billion was undrawn under this arrangement, compared to $1.80 billion at December 31, 2021. There were no short-term borrowings under this arrangement at March 31, 2022 and at December 31, 2021. Letters of credit under this arrangement that are used to collateralize certain government deposits totaled $32.2 million at March 31, 2022, compared to $32.2 million at December 31, 2021. There were no long-term borrowings under this arrangement at March 31, 2022 and December 31, 2021. FHLB advances and standby letters of credit available at March 31, 2022 were secured by certain real estate loans with a carrying value of $2.81 billion in accordance with the collateral provisions of the Advances, Security and Deposit Agreement with the FHLB. At March 31, 2022 and December 31, 2021, our bank had additional unused borrowings available at the Federal Reserve discount window of $84.3 million and $55.4 million, respectively. As of March 31, 2022 and December 31, 2021, certain commercial and commercial real estate loans with a carrying value totaling $129.1 million and $131.0 million, respectively, were pledged as collateral on our line of credit with the Federal Reserve discount window. The Federal Reserve does not have the right to sell or repledge these loans. Subordinated Debentures In September 2004, we created a wholly-owned statutory trust, CPB Capital Trust IV ("Trust IV"). Trust IV issued $30.0 million in floating rate trust preferred securities bearing an interest rate of three-month LIBOR plus 2.45% and maturing on December 15, 2034. The principal assets of Trust IV are $30.9 million of the Company's junior subordinated debentures with an identical interest rate and maturity as the Trust IV trust preferred securities. Trust IV issued $0.9 million of common securities to the Company. In December 2004, we created a wholly-owned statutory trust, CPB Statutory Trust V ("Trust V"). Trust V issued $20.0 million in floating rate trust preferred securities bearing an interest rate of three-month LIBOR plus 1.87% and maturing on December 15, 2034. The principal assets of Trust V are $20.6 million of the Company's junior subordinated debentures with an identical interest rate and maturity as the Trust V trust preferred securities. Trust V issued $0.6 million of common securities to the Company. At March 31, 2022 and December 31, 2021, the Company had the following junior subordinated debentures outstanding, which is recorded in long-term debt on the Company's consolidated balance sheets: (dollars in thousands) March 31, 2022 Name of Trust Subordinated Debentures Interest Rate Trust IV $ 30,928 Three month LIBOR + 2.45% Trust V 20,619 Three month LIBOR + 1.87% Total $ 51,547 December 31, 2021 Name of Trust Subordinated Debentures Interest Rate Trust IV $ 30,928 Three month LIBOR + 2.45% Trust V 20,619 Three month LIBOR + 1.87% Total $ 51,547 The Company is not considered the primary beneficiary of Trusts IV and V, therefore the trusts are not considered a variable interest entity and are not consolidated in the Company's financial statements. Rather the subordinated debentures are shown as a liability on the Company's consolidated balance sheets. The Company's investment in the common securities of the trusts are included in investment in unconsolidated entities in the Company's consolidated balance sheets. The floating trust preferred securities, the junior subordinated debentures that are the assets of Trusts IV and V and the common securities issued by Trusts IV and V are redeemable in whole or in part on any interest payment date on or after December 15, 2009 for Trust IV and V, or at any time in whole but not in part within 90 days following the occurrence of certain events. Our obligations with respect to the issuance of the trust preferred securities constitute a full and unconditional guarantee by the Company of each trust's obligations with respect to its trust preferred securities. Subject to certain exceptions and limitations, we may elect from time to time to defer interest payments on the subordinated debentures, which would result in a deferral of distribution payments on the related trust preferred securities, for up to 20 consecutive quarterly periods without default or penalty. The subordinated debentures may be included in Tier 1 capital, with certain limitations applicable, under current regulatory guidelines and interpretations. Subordinated Notes As of March 31, 2022 and December 31, 2021, the Company had the following subordinated notes outstanding: (Dollars in thousands) March 31, 2022 Name Amount of Subordinated Notes Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points. (Dollars in thousands) December 31, 2021 Name of Trust Amount of Subordinated Debentures Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points. On October 20, 2020, the Company completed a $55.0 million private placement of ten-year fixed-to-floating rate subordinated notes, which will be used to support regulatory capital ratios and for general corporate purposes. The Company exchanged the privately placed notes for registered notes with the same terms and in the same aggregate principal amount at the end of the fourth quarter of 2020. The Notes bear a fixed interest rate of 4.75% for the first five years and will reset quarterly thereafter for the remaining five years to the then current three-month Secured Overnight Financing Rate ("SOFR"), as published by the Federal Reserve Bank of New York, plus 456 basis points. The subordinated notes may be included in Tier 2 capital, with certain limitations applicable, under current regulatory guidelines and interpretations. The subordinated notes had a carrying value of $54.1 million, net of unamortized debt issuance costs of $0.9 million, at March 31, 2022.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	10. REVENUE FROM CONTRACTS WITH CUSTOMERS The following presents the Company's other operating income, segregated by revenue streams that are in-scope and out-of-scope of ASC 606, "Revenue from Contracts with Customers" for the three months ended March 31, 2022 and 2021: Three Months Ended (dollars in thousands) 2022 2021 Other operating income: In-scope of ASC 606 Mortgage banking income $ 235 $ 838 Service charges on deposit accounts 1,861 1,478 Other service charges and fees 3,863 3,178 Income on fiduciary activities 1,154 1,231 In-scope other operating income 7,113 6,725 Out-of-scope other operating income 2,438 3,986 Total other operating income $ 9,551 $ 10,711

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	11. SHARE-BASED COMPENSATION Restricted Stock Units Under the Company's 2013 Stock Compensation Plan, we award restricted and performance stock awards and units to our non-officer directors and certain senior management personnel. The awards typically vest over a three or five year period from the date of grant and are subject to forfeiture until performance and employment targets are achieved. Compensation expense is typically measured as the market price of the stock awards on the grant date, and is recognized over the specified vesting periods. The table below presents the activity of restricted stock units for the three months ended March 31, 2022: Shares Weighted Average Grant Date Fair Value Fair Value of Restricted Stock Awards and Units That Vested During the Period Non-vested restricted stock units, beginning of period 485,339 $ 21.95 Changes during the period: Granted 95,155 29.38 Vested (89,304) 24.61 $ 2,652 Forfeited (39,749) 28.00 Non-vested restricted stock units, end of period 451,441 22.46

LEASES

LEASES	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
LEASES	12. OPERATING LEASES We lease certain land and buildings for our bank branches and ATMs. In some instances, a lease may contain renewal options to extend the term of the lease. All renewal options are likely to be exercised and therefore have been recognized as part of our right-of-use assets and lease liabilities in accordance with ASC 842, "Leases" . Certain leases also contain variable payments that are primarily determined based on common area maintenance costs and Hawaii state tax rates. All leases are operating leases and we do not include any short term leases in the calculation of the right-of-use assets and lease liabilities. The most significant assumption related to the Company’s application of ASC 842 was the discount rate assumption. As most of the Company’s lease agreements do not provide for an implicit interest rate, the Company uses the collateralized interest rate that the Company would have to pay to borrow over a similar term to estimate the Company’s lease liability. Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the period indicated: Three Months Ended (dollars in thousands) 2022 2021 Lease cost: Operating lease cost $ 1,390 $ 1,571 Variable lease cost 830 720 Less: sublease income (12) — Total lease cost $ 2,208 $ 2,291 Other information: Operating cash flows from operating leases $ (1,506) $ (1,599) Weighted-average remaining lease term - operating leases 11.49 years 11.78 years Weighted-average discount rate - operating leases 3.92 % 3.89 % The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter: (dollars in thousands) Year Ending December 31, Undiscounted Cash Flows Lease Liability Expense Lease Liability Reduction 2022 (remainder) $ 4,420 $ 1,113 $ 3,307 2023 5,183 1,343 3,840 2024 4,508 1,214 3,294 2025 4,195 1,088 3,107 2026 4,133 968 3,165 2027 4,123 843 3,280 Thereafter 23,253 3,636 19,617 Total $ 49,815 $ 10,205 $ 39,610 In addition, the Company, as lessor, leases certain properties that it owns. All of these leases are operating leases. The following represents lease income related to these leases that was recognized for the period indicated: Three Months Ended (dollars in thousands) 2022 2021 Total rental income recognized $ 951 $ 520 Based on the Company's leases as lessor as of March 31, 2022, estimated lease payments for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2022 (remainder) $ 1,532 2023 923 2024 521 2025 304 2026 171 2027 131 Thereafter 304 Total $ 3,886
LEASES	12. OPERATING LEASES We lease certain land and buildings for our bank branches and ATMs. In some instances, a lease may contain renewal options to extend the term of the lease. All renewal options are likely to be exercised and therefore have been recognized as part of our right-of-use assets and lease liabilities in accordance with ASC 842, "Leases" . Certain leases also contain variable payments that are primarily determined based on common area maintenance costs and Hawaii state tax rates. All leases are operating leases and we do not include any short term leases in the calculation of the right-of-use assets and lease liabilities. The most significant assumption related to the Company’s application of ASC 842 was the discount rate assumption. As most of the Company’s lease agreements do not provide for an implicit interest rate, the Company uses the collateralized interest rate that the Company would have to pay to borrow over a similar term to estimate the Company’s lease liability. Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the period indicated: Three Months Ended (dollars in thousands) 2022 2021 Lease cost: Operating lease cost $ 1,390 $ 1,571 Variable lease cost 830 720 Less: sublease income (12) — Total lease cost $ 2,208 $ 2,291 Other information: Operating cash flows from operating leases $ (1,506) $ (1,599) Weighted-average remaining lease term - operating leases 11.49 years 11.78 years Weighted-average discount rate - operating leases 3.92 % 3.89 % The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter: (dollars in thousands) Year Ending December 31, Undiscounted Cash Flows Lease Liability Expense Lease Liability Reduction 2022 (remainder) $ 4,420 $ 1,113 $ 3,307 2023 5,183 1,343 3,840 2024 4,508 1,214 3,294 2025 4,195 1,088 3,107 2026 4,133 968 3,165 2027 4,123 843 3,280 Thereafter 23,253 3,636 19,617 Total $ 49,815 $ 10,205 $ 39,610 In addition, the Company, as lessor, leases certain properties that it owns. All of these leases are operating leases. The following represents lease income related to these leases that was recognized for the period indicated: Three Months Ended (dollars in thousands) 2022 2021 Total rental income recognized $ 951 $ 520 Based on the Company's leases as lessor as of March 31, 2022, estimated lease payments for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2022 (remainder) $ 1,532 2023 923 2024 521 2025 304 2026 171 2027 131 Thereafter 304 Total $ 3,886

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	13. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the components of other comprehensive loss for the three months ended March 31, 2022 and 2021, by component: (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2022 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (108,448) $ (28,998) $ (79,450) Net unrealized losses on investment securities (108,448) (28,998) (79,450) Net unrealized losses on derivatives: Net unrealized losses arising during the period $ (50) $ (13) $ (37) Net unrealized losses on derivatives (50) (13) (37) Defined benefit plans: Amortization of net actuarial loss 133 36 97 Amortization of net transition obligation 4 1 3 Defined benefit plans, net 137 37 100 Other comprehensive loss $ (108,361) $ (28,974) $ (79,387) (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2021 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (23,619) $ (6,318) $ (17,301) Net unrealized losses on investment securities (23,619) (6,318) (17,301) Defined benefit plans: Amortization of net actuarial loss 246 66 180 Amortization of net transition obligation 5 1 4 Defined benefit plans, net 251 67 184 Other comprehensive loss $ (23,368) $ (6,251) $ (17,117) The following tables present the changes in each component of AOCI, net of tax, for the three months ended March 31, 2022 and 2021: (dollars in thousands) Investment Derivatives Defined AOCI Three Months Ended March 31, 2022 Balance at beginning of period $ (3,666) $ — $ (4,294) $ (7,960) Other comprehensive loss before reclassifications (79,450) (37) — (79,487) Reclassification adjustments from AOCI — — 100 100 Total other comprehensive income (loss) (79,450) (37) 100 (79,387) Balance at end of period $ (83,116) $ (37) $ (4,194) $ (87,347) (dollars in thousands) Investment Derivatives Defined AOCI Three Months Ended March 31, 2021 Balance at beginning of period $ 26,651 $ — $ (6,523) $ 20,128 Other comprehensive loss before reclassifications (17,301) — — (17,301) Reclassification adjustments from AOCI — — 184 184 Total other comprehensive income (loss) (17,301) — 184 (17,117) Balance at end of period $ 9,350 $ — $ (6,339) $ 3,011 The following table presents the amounts reclassified out of each component of AOCI for the three months ended March 31, 2022 and 2021: Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components Three months ended March 31, (dollars in thousands) 2022 2021 Defined benefit retirement and supplemental executive retirement plan items: Amortization of net actuarial loss $ (133) $ (246) Other operating expense - other Amortization of net transition obligation (4) (5) Other operating expense - other Total before tax (137) (251) Tax effect 37 67 Income tax benefit (expense) Net of tax $ (100) $ (184) Total reclassification adjustments from AOCI for the period, net of tax $ (100) $ (184)

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	14. EARNINGS PER SHARE The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated: Three Months Ended (dollars in thousands, except per share data) 2022 2021 Net income $ 19,438 $ 18,038 Weighted average common shares outstanding - basic 27,591,390 28,108,648 Dilutive effect of employee stock options and awards 283,534 204,366 Weighted average common shares outstanding - diluted 27,874,924 28,313,014 Basic earnings per common share $ 0.70 $ 0.64 Diluted earnings per common share $ 0.70 $ 0.64

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	15. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES Disclosures about Fair Value of Financial Instruments Fair value estimates, methods and assumptions are set forth below for our financial instruments. Short-Term Financial Instruments The carrying values of short-term financial instruments are deemed to approximate fair values. Such instruments are considered readily convertible to cash and include cash and due from financial institutions, interest-bearing deposits in other financial institutions, accrued interest receivable, the majority of Federal Home Loan Bank advances and other short-term borrowings, and accrued interest payable. Investment Securities The fair value of investment securities is based on market price quotations received from third-party pricing services. The third-party pricing services utilize pricing models supported with timely market data information. Where quoted market prices are not available, fair values are based on quoted market prices of comparable securities. Loans Fair values of loans are estimated based on discounted cash flows of portfolios of loans with similar financial characteristics including the type of loan, interest terms and repayment history. Fair values are calculated by discounting scheduled cash flows through estimated maturities using estimated market discount rates. Estimated market discount rates are reflective of credit and int erest rate risks inherent in the Company's various loan types and are derived from available market information, as well as specific borrower information. As of March 31, 2022, the weighted average discount rate used in the valuation of loans was 6.44%. In accordance with ASU 2016-01, the fair value of loans are measured based on the notion of exit price. Loans Held for Sale The fair value of loans classified as held for sale are generally based upon quoted prices for similar assets in active markets, acceptance of firm offer letters with agreed upon purchase prices, discounted cash flow models that take into account market observable assumptions, or independent appraisals of the underlying collateral securing the loans. We report the fair values of Hawaii and U.S. Mainland construction and commercial real estate loans, if any, net of applicable selling costs on our consolidated balance sheets. Deposit Liabilities The fair values of deposits with no stated maturity, such as noninterest-bearing demand deposits and interest-bearing demand and savings accounts, are equal to the amount payable on demand. The fair value of time deposits is estimated using discounted cash flow analyses. As of March 31, 2022, the weighted average discount rate used in the valuation of time deposits was 1.24%. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Long-Term Debt The fair value of our long-term debt is estimated by discounting scheduled cash flows over the contractual borrowing period at the estimated market rate for similar borrowing arrangements. As of March 31, 2022, the weighted average discount rate used in the valuation of long-term debt was 6.64%. Derivatives The fair values of derivative financial instruments are based upon current market values, if available. If there are no relevant comparables, fair values are based on pricing models using current assumptions for interest rate swaps and options. Off-Balance Sheet Financial Instruments The fair values of off-balance sheet financial instruments are estimated based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties, current settlement values or quoted market prices of comparable instruments. Limitations Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time our entire holdings of a particular financial instrument. Because no market exists for a significant portion of our financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of future business and the value of assets and liabilities that are not considered financial instruments. For example, significant assets and liabilities that are not considered financial assets or liabilities include deferred tax assets, premises and equipment and intangible assets. Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant March 31, 2022 Financial assets: Cash and due from banks $ 83,947 $ 83,947 $ 83,947 $ — $ — Interest-bearing deposits in other banks 118,183 118,183 118,183 — — Investment securities 1,528,989 1,528,985 — 1,520,904 8,081 Loans held for sale 4,677 4,677 — 4,677 — Loans, net of ACL 5,110,083 4,688,605 — — 4,688,605 Accrued interest receivable 16,423 16,423 16,423 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,269,562 2,269,562 2,269,562 — — Interest-bearing demand and savings and money market 3,630,931 3,630,931 3,630,931 — — Time 698,538 692,253 — — 692,253 Long-term debt 105,677 91,117 — — 91,117 Accrued interest payable (included in other liabilities) 1,807 1,807 1,807 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant March 31, 2022 Derivatives: Interest rate lock commitments $ 899 $ (2) $ (2) $ — $ (2) $ — Forward sale commitments 5,669 146 146 — 146 — Risk participation agreements 37,426 — — — — — Back-to-back swap agreements: Assets 32,919 1,624 1,624 — — 1,624 Liabilities 32,919 (1,624) (1,624) — — (1,624) Interest rate swap 115,545 (50) (50) — — (50) Off-balance sheet financial instruments: Commitments to extend credit 1,308,724 — 1,402 — 1,402 — Standby letters of credit and financial guarantees written 6,058 — 91 — 91 — Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant December 31, 2021 Financial assets: Cash and due from banks $ 81,506 $ 81,506 $ 81,506 $ — $ — Interest-bearing deposits in other banks 247,401 247,401 247,401 — — Investment securities 1,631,699 1,631,699 — 1,623,080 8,619 Loans held for sale 3,531 3,531 — 3,531 — Loans, net of ACL 5,033,552 4,741,379 — — 4,741,379 Accrued interest receivable 16,709 16,709 16,709 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,291,246 2,291,246 2,291,246 — — Interest-bearing demand and savings and money market 3,641,180 3,641,180 3,641,180 — — Time 706,732 704,645 — — 704,645 Long-term debt 105,616 94,588 — — 94,588 Accrued interest payable (included in other liabilities) 1,122 1,122 1,122 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant December 31, 2021 Derivatives: Forward sale commitments 3,525 1 1 — 1 — Risk participation agreements 37,531 (16) (16) — — (16) Back-to-back swap agreements: Assets 33,112 435 435 — — 435 Liabilities 33,112 (435) (435) — — (435) Off-balance sheet financial instruments: Commitments to extend credit 1,266,596 — 1,347 — 1,347 — Standby letters of credit and financial guarantees written 6,634 — 100 — 100 — Fair Value Measurements We group our financial assets and liabilities at fair value into three levels based on the markets in which the financial assets and liabilities are traded and the reliability of the assumptions used to determine fair value as follows: • Level 1 — Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities traded in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. • Level 2 — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models and similar techniques that requires the use of significant judgment or estimation. We base our fair values on the price that we would expect to receive if an asset were sold, or the price that we would expect to pay to transfer a liability in an orderly transaction between market participants at the measurement date. We also maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. We use fair value measurements to record adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale and equity securities and derivatives are recorded at fair value on a recurring basis. From time to time, we may be required to record other financial assets at fair value on a nonrecurring basis such as loans held for sale, impaired loans, mortgage servicing rights, and other real estate owned. These nonrecurring fair value adjustments typically involve application of the lower of cost or fair value accounting or write-downs of individual assets. As discussed in Note 8 - Derivatives, during the three months ended March 31, 2022 the Company entered into an interest rate swap which was measured at fair value using Level 3 inputs. There were no other transfers of financial assets and liabilities into or out of Level 3 of the fair value hierarchy during the three months ended March 31, 2022. The following tables present the fair value of assets and liabilities measured on a recurring basis as of March 31, 2022 and December 31, 2021: Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant March 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions 41,729 — 41,729 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 287,774 — 287,774 — Total held-to-maturity securities 329,503 — 329,503 — Available-for-sale securities: Debt securities: States and political subdivisions $ 164,181 $ — $ 156,952 $ 7,229 Corporate securities 33,054 — 33,054 — U.S. Treasury obligations and direct obligations of U.S Government agencies 32,171 — 32,171 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 858,198 — 858,198 — Residential - Non-government agencies 10,908 — 10,056 852 Commercial - U.S. Government-sponsored entities 59,358 — 59,358 — Commercial - Non-government agencies 41,612 — 41,612 — Total available-for-sale securities 1,199,482 — 1,191,401 8,081 Derivatives: Interest rate lock, forward sale commitments, risk participation agreements, back-to-back swap agreements, and interest rate swap agreements 94 — 144 (50) Total $ 1,529,079 $ — $ 1,521,048 $ 8,031 Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant December 31, 2021 Available-for-sale securities: Debt securities: States and political subdivisions $ 236,828 $ — $ 229,147 $ 7,681 Corporate securities 40,646 — 40,646 — U.S. Treasury obligations and direct obligations of U.S Government agencies 35,334 — 35,334 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 1,198,816 — 1,198,816 — Residential - Non-government agencies 12,213 — 11,275 938 Commercial - U.S. Government-sponsored entities 65,849 — 65,849 — Commercial - Non-government agencies 42,013 — 42,013 — Total available-for-sale securities 1,631,699 — 1,623,080 8,619 Derivatives: Interest rate lock, forward sale commitments, risk participation agreements, back-to-back swap agreements, and interest rate swap agreements (15) — 1 (16) Total $ 1,631,684 $ — $ 1,623,081 $ 8,603 For the three months ended March 31, 2022 and 2021, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Available-For-Sale Debt Securities: (dollars in thousands) States and Political Subdivisions Residential - Non-Government Agencies Total Balance at December 31, 2021 $ 7,681 $ 938 $ 8,619 Principal payments received (55) (5) (60) Unrealized net loss included in other comprehensive income (397) (81) (478) Balance at March 31, 2022 $ 7,229 $ 852 $ 8,081 Balance at December 31, 2020 $ 11,337 $ 989 $ 12,326 Principal payments received (1,973) (5) (1,978) Unrealized net loss included in other comprehensive income (673) (79) (752) Balance at March 31, 2021 $ 8,691 $ 905 $ 9,596 Within the states and political subdivisions available-for-sale debt securities category, the Company held two mortgage revenue bonds issued by the City & County of Honolulu had an aggregate fair value of $7.2 million and $7.7 million at March 31, 2022 and December 31, 2021, respectively. Within the other MBS non-agency category, the Company held two mortgage backed bonds issued by Habitat for Humanity with an aggregate fair value of $0.9 million and $0.9 million at March 31, 2022 and December 31, 2021, respectively. The Company estimates the aggregate fair value of $8.1 million and $8.6 million as of March 31, 2022 and December 31, 2021 , respectively, by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The significant unobservable input used in the fair value measurement of the Company's City & County of Honolulu mortgage revenue bonds and Habitat for Humanity mortgage backed bonds is the weighted average discount rate. As of March 31, 2022, the weighted average discount rate utilized wa s 4.63%, compared to 3.46% at December 31, 2021, which was derived by incorporating a credit spread over the FHLB Fixed-Rate Advance curve. Significant increases (decreases) in the weighted average discount rate could result in a significantly lower (higher) fair value measurement. There were no assets measured on a nonrecurring basis as of March 31, 2022 and December 31, 2021.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	3 Months Ended
	Mar. 31, 2022
Legal Proceedings [Abstract]
LEGAL PROCEEDINGS	16. LEGAL PROCEEDINGSWe are involved in legal actions, but do not believe the ultimate disposition of those actions will have a material adverse impact on our results of operations or consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements of Central Pacific Financial Corp. and Subsidiaries (herein referred to as the "Company," "we," "us," or "our") have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements and notes should be read in conjunction with the Company's consolidated financial statements and notes thereto filed on Form 10-K for the fiscal year ended December 31, 2021. In the opinion of management, all adjustments necessary for a fair presentation have been made and include all normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. In January 2020, we acquired a 50% ownership interest in a mortgage loan origination and brokerage company, Oahu HomeLoans, LLC. The bank concluded that the investment meets the consolidation requirements under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 810, "Consolidation." The bank concluded that the entity meets the definition of a variable interest entity and that we are the primary beneficiary of the variable interest entity. Accordingly, the investment has been consolidated into our financial statements. In March 2022, Oahu HomeLoans, LLC was terminated. We have 50% ownership interests in three other mortgage loan origination and brokerage companies which are accounted for using the equity method and are included in investment in unconsolidated entities: Gentry HomeLoans, LLC, Haseko HomeLoans, LLC and Island Pacific HomeLoans, LLC. We have low income housing tax credit partnership investments that are accounted for under the proportional amortization method and are included in investment in unconsolidated entities. During the first quarter of 2022, the Company invested $2.0 million in Swell Financial, Inc. ("Swell"), which included $1.5 million in other intangible assets and services provided in exchange for Swell common stock and $0.5 million in cash in exchange for Swell preferred stock. Swell intends to launch an integrated checking and line-of-credit account in the summer of 2022, with Central Pacific Bank serving as the bank sponsor. The Company does not have the ability to exercise significant influence over Swell and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The investment is included in investments in unconsolidated entities. During the second quarter of 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The investment is accounted for under the cost method and is also included in investment in unconsolidated entities. We also have other non-controlling equity investments in affiliates that are accounted for under the cost method and are included in investment in unconsolidated entities. Our investments in unconsolidated entities accounted for under the equity, proportional amortization and cost methods were $0.2 million, $25.3 million and $5.6 million, respectively, at March 31, 2022 and $0.2 million, $25.9 million and $3.6 million, respectively, at December 31, 2021. Our policy for determining impairment of these investments includes an evaluation of whether a loss in value of an investment is other than temporary. Evidence of a loss in value includes absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. We perform impairment tests whenever indicators of impairment are present. If the value of an investment declines and it is considered other than temporary, the investment is written down to its respective fair value in the period in which this determination is made. The Company sponsors the Central Pacific Bank Foundation, which is not consolidated in the Company's financial statements.
Reclassification, Policy [Policy Text Block]	Investment Securities Investments in debt securities are designated as trading, available-for-sale ("AFS"), or held-to-maturity ("HTM"). Investments in debt securities are designated as HTM only if we have the positive intent and ability to hold these securities to maturity. HTM securities are reported at amortized cost in the consolidated balance sheets. Trading securities are reported at fair value, with changes in fair value included in net income. Debt securities not classified as HTM or trading are classified as AFS and are reported at fair value, with net unrealized gains and losses, net of applicable taxes, excluded from net income and included in accumulated other comprehensive income (loss) ("AOCI"). Transfers of investment securities from AFS to HTM are accounted for at fair value as of the date of the transfer. The difference between the fair value and the par value at the date of transfer is considered a premium or discount and is accounted for accordingly. Any unrealized gain or loss at the date of the transfer is reported in AOCI, and is amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of any premium or discount, and will offset or mitigate the effect on interest income of the amortization of the premium or discount for that HTM security. Equity securities with readily determinable fair values are carried at fair value, with changes in fair value included in net income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. The Company classifies its investment securities portfolio into the following major security types: mortgage-backed securities ("MBS"), other debt securities and equity securities. The Company’s MBS portfolio is comprised primarily of residential MBS issued by United States of America ("U.S.") government entities and agencies. These securities are either explicitly or implicitly guaranteed by an agency of the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The remainder of the MBS portfolio are commercial MBS issued by U.S government entities and agencies (which there is no minimum credit rating), non-agency residential MBS (which shall meet a minimum credit rating of AAA) and non-agency commercial MBS (which shall meet a minimum credit rating of BBB and meet minimum internal credit guidelines). The Company’s other debt securities portfolio is comprised of obligations issued by U.S. government entities and agencies, obligations issued by states and political subdivisions (which shall meet a minimum credit rating of BBB), and corporate bonds (which shall meet a minimum credit rating of BBB-). Interest income on investment securities includes amortization of premiums and accretion of discounts. We amortize premiums and accrete discounts using the effective interest method over the life of the respective security instrument. Gains and losses on the sale of investment securities are recorded on the trade date and determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual status is reversed against current period interest income. There were no investment securities on nonaccrual status as of March 31, 2022 and the Company did not reverse any accrued interest against interest income during the three months ended March 31, 2022. Allowance for Credit Losses (“ACL”) for AFS Debt Securities AFS debt securities in an unrealized loss position are evaluated for impairment at least quarterly. For AFS debt securities in an unrealized loss position, the Company first assesses whether or not it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the investment security’s amortized cost basis is written down to fair value through net income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In conducting this assessment for debt securities in an unrealized loss position, management evaluates the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the investment security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in AOCI. Changes in the ACL are recorded as a provision for (or reversal of) credit losses. Losses are charged against the ACL when management believes the uncollectibility of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of March 31, 2022, the declines in market values of our AFS debt securities were primarily attributable to changes in interest rates and volatility in the financial markets. Because we have no intent to sell securities in an unrealized loss position and it is not more likely than not that we will be required to sell such securities before recovery of its amortized cost basis, we do not believe a credit loss exists and an ACL was not recorded. The Company has made a policy election to exclude accrued interest receivable from the amortized cost basis of debt securities and report accrued interest receivable together with accrued interest on loans in the consolidated balance sheets. Accrued interest receivable on AFS debt securities totaled $3.6 million and $4.6 million as of March 31, 2022 and December 31, 2021, respectively. Accrued interest receivable on AFS debt securities is excluded from the estimate of credit losses. ACL for HTM Debt Securities Management measures expected credit losses on HTM debt securities on a collective basis by major security type. For pools of such securities with common risk characteristics, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources. Expected credit losses for these securities are estimated using a loss rate methodology which considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Expected credit loss on each security in the HTM portfolio that do not share common risk characteristics with any of the pools of debt securities is individually measured based on net realizable value, or the difference between the discounted value of the expected future cash flows, based on the original effective interest rate, and the recorded amortized cost basis of the security. Securities in the HTM portfolio are issued by or contain collateral issued by U.S. government sponsored enterprises ("GSEs") and carry implicit guarantees from the U.S. government. Due to the implicit guarantee and the long history of no credit losses, no allowance for credit losses was recorded for these securities. Accrued interest on HTM debt securities is reported in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses. Accrued interest receivable on HTM debt securities totaled $0.6 million as of March 31, 2022. The Company did not have any accrued interest receivable on HTM debt securities as of December 31, 2021. Federal Home Loan Bank Stock We are a member of the Federal Home Loan Bank of Des Moines (the "FHLB"). The bank is required to obtain and hold a specific number of shares of capital stock of the FHLB equal to the sum of a membership investment requirement and an activity-based investment requirement. The securities are reported at cost and are presented separately in the consolidated balance sheets. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost, net of the ACL. Amortized cost is the unpaid principal amount outstanding, net of unamortized purchase premiums and discounts, unamortized deferred loan origination fees and costs and cumulative principal charge-offs. Purchase premiums and discounts are generally amortized into interest income over the contractual terms of the underlying loans using the effective interest method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the life of the related loan as an adjustment to yield and are typically amortized using the interest method over the contractual term of the loan, adjusted for actual prepayments. Deferred loan fees and costs on loans paid in full are recognized as a component of interest income on loans. Interest income on loans is accrued at the contractual rate of interest on the unpaid principal balance. Accrued interest receivable on loans totaled $12.2 million and $12.1 million at March 31, 2022 and December 31, 2021, respectively, and is reported together with accrued interest on HTM and AFS debt securities on the consolidated balance sheets. Upon adoption of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” the Company made the accounting policy election to not measure an estimate of credit losses on accrued interest receivable as the Company writes off any uncollectible accrued interest receivable in a timely manner. The Company believes modified loans due to the novel coronavirus disease ("COVID-19") pandemic have distinct risk characteristics that cause them to be monitored and assessed for credit risk differently than their unmodified counterparts. Thus, in the third quarter of 2020, the Company elected to measure a reserve on the accrued interest receivable for loans on active payment forbearance or deferral of $0.2 million, with the offset recorded to provision for credit losses. Due to the significant decline in loans on active forbearance or deferral, the Company reversed the $0.2 million reserve during the second quarter of 2021 and no longer has a reserve on accrued interest receivable as of March 31, 2022. Nonaccrual Loans The Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. Commercial, scored small business, automobile and other consumer loans are generally placed on nonaccrual status when principal and/or interest payments are 90 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. Residential mortgage and home equity loans, are generally placed on nonaccrual status when principal and/or interest payments are 120 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income should management determine that the collectability of such accrued interest is doubtful. All subsequent receipts are applied to principal outstanding and no interest income is recognized unless the financial condition and payment record of the borrowers warrant such recognition and the loan is restored to accrual status. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current for a predetermined period, normally at least six months, and full payment of principal and interest is reasonably assured. Troubled Debt Restructuring (“TDR”) A loan is accounted for and reported as a TDR when two conditions are met: 1) the borrower is experiencing financial difficulty and 2) the Company grants a concession to the borrower experiencing financial difficulty that it would not otherwise consider for a borrower or transaction with similar credit risk characteristics. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of payments, the debt’s original contractual maturity or original expected duration. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR regardless of the accrual or performance status until the loan is paid off. Expected credit losses are estimated on a collective (pool) basis when they share similar risk characteristics. If a TDR financial asset shares similar risk characteristics with other financial assets, it is evaluated with those other financial assets on a collective basis. If it does not share similar risk characteristics with other financial assets, it is evaluated individually. The Company’s ACL reflects all effects of a TDR when an individual asset is specifically identified as a reasonably expected TDR. The Company has determined that a TDR is reasonably expected no later than the point when the lender concludes that modification is the best course of action and it is at least reasonably possible that the troubled borrower will accept some form of concession from the lender to avoid a default. Reasonably expected TDRs and executed TDRs are evaluated to determine the required ACL using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan. Based on the underlying risk characteristics, TDRs performing in accordance with their modified contractual terms may be collectively evaluated. In April 2020, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (“the agencies”) issued a revised interagency statement encouraging financial institutions to work with customers affected by the COVID-19 pandemic and providing additional information regarding loan modifications. The revised interagency statement clarifies the interaction between the interagency statement issued on March 22, 2020 and the temporary relief provided by Section 4013 of the Coronavirus Aid, Relief and Economic Security ("CARES") Act. Section 4013 allows financial institutions to suspend the requirements to classify certain loan modifications as TDRs. The revised statement also provides supervisory interpretations on past due and nonaccrual regulatory reporting of loan modification programs and regulatory capital. Section 4013 and the interagency guidance were applied by the Company to loan modifications made related to the COVID-19 pandemic as eligible and appropriate. The application of the guidance reduced the number of TDRs that were reported. In December 2020, the Consolidated Appropriations Act, 2021 was signed into law. Section 541 of this legislation, “Extension of Temporary Relief From Troubled Debt Restructurings and Insurer Clarification,” extended Section 4013 of the CARES Act to the earlier of January 1, 2022 or 60 days after the termination of the national emergency declared relating to COVID-19. This relief ended on January 1, 2022. Future TDRs are indeterminable and will depend on future developments, which are highly uncertain and cannot be predicted, including the economic recovery, market volatility and other actions taken by governmental authorities and other third parties as a result of the pandemic. ACL for Loans Under the current expected credit loss methodology, the ACL for loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Our policy is to charge off a loan in the period in which the loan is deemed to be uncollectible and all interest previously accrued but not collected is reversed against current period interest income. We consider a loan to be uncollectible when it is probable that a loss has been incurred and the Company can make a reasonable estimate of the loss. In these instances, the likelihood of and/or timeframe for recovery of the amount due is uncertain, weak, or protracted. Subsequent receipts, if any, are credited first to the remaining principal, then to the ACL for loans as recoveries, and finally to unaccrued interest. The ACL for loans represents management's estimate of all expected credit losses over the expected life of our existing loan portfolio. Management estimates the ACL balance using relevant available information about the collectability of cash flows, from internal and external sources, including historical information relating to past events, current conditions, and reasonable and supportable forecasts of future economic conditions. When the Company is unable to forecast future economic events, management may revert to historical information. The Company's methodologies incorporate a reasonable and supportable forecast period of one year and revert to historical loss information on a straight-line basis over a one year reversion period. The Company maintains an ACL at an appropriate level as of a given balance sheet date to absorb management’s best estimate of expected life of loan credit losses. Historical credit loss experience provides the basis for the Company’s expected credit loss estimate. Adjustments to historical loss information may be made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, or when historical asset terms do not reflect the contractual terms of the financial assets being evaluated. The ACL methodology may also consider other adjustments to address changes in conditions, trends, and circumstances such as local industry changes that could have a significant impact on the risk profile of the loan portfolio and provide for adjustments that may not be reflected and/or captured in the historical loss data. These factors include: lending policies, imprecision in forecasting future economic conditions, loan profile, lending staff, problem loan trends, loan review, collateral, credit concentration and other internal and external factors. The Company uses the Moody’s Analytics Baseline forecast service for its economic forecast assumption. The Moody’s Analytics Baseline forecast includes both National and Hawaii specific economic indicators. The Moody’s Analytics forecast service is widely used in the industry and is reasonable and supportable. It is updated at least monthly and includes a variety of upside and downside economic scenarios from the Baseline. Generally the Company will use the most recent Baseline forecast from Moody’s as of the balance sheet date. During times of economic and market volatility or instability, the Company may include a qualitative factor for forecast imprecision that factors in other potential economic scenarios available by Moody’s Analytics or may apply overrides to its statistical models to enhance the reasonableness of its loss estimates. The ACL is measured on a collective or pool basis when similar risk characteristics exist. The Company segments its portfolio generally by Federal Financial Institutions Examination Council ("FFIEC") Call Report codes. Loan pools are further segmented by risk utilizing risk ratings or bands of payment delinquency (including TDR or non-accrual status), depending on what is most appropriate for each segment. Additional sub-segmentation may be utilized to identify groups of loans with unique risk characteristics relative to the rest of the portfolio. The Company relies on a third-party platform which offers multiple methodologies to measure historical life-of-loan losses. The Company has also developed statistical models internally to incorporate future economic conditions and forecast expected credit losses based on various macro-economic indicators such as unemployment and income levels. The Company has identified the following portfolio segments to measure the allowance for credit losses: Loan Segment Historical Lifetime Loss Method Historical Economic Reversion Method Construction Probability of Default/Loss Given Default ("PD/LGD") 2008-Present One Year One Year (straight-line basis) Commercial real estate PD/LGD 2008-Present Multi-family mortgage PD/LGD 2008-Present Commercial, financial and agricultural PD/LGD 2008-Present Home equity lines of credit Loss-Rate Migration 2008-Present Residential mortgage Loss-Rate Migration 2008-Present Consumer - other revolving Loss-Rate Migration 2008-Present Consumer - non-revolving Loss-Rate Migration 2008-Present Purchased Mainland portfolios (Dealer, Other consumer) Weighted-Average Remaining Maturity ("WARM") 2008-Present Below is a description and the risk characteristics of each segment: Construction loans Construction loans include both residential and commercial development projects. Each construction project is evaluated for economic viability and construction loans pose higher credit risks than typical secured loans. Financial strength of the borrower, completion risk (the risk that the project will not be completed on time and within budget) and geographic location are the predominant risk characteristics of this segment. Commercial real estate loans Commercial real estate loans are secured by commercial properties. The predominant risk characteristic of this segment is operating risk, which is the risk that the borrower will be unable to generate sufficient cash flows from the operation of the property. Interest rate conditions and the commercial real estate market through economic cycles also impact risk levels. Multi-family mortgage loans Multi-family mortgage loans can comprise multi-building properties with extensive amenities to a single building with no amenities. The primary risk characteristic of this segment is operating risk or the ability to generate sufficient rental cash flows from the operation of the property within the owner’s strategy and resources. Commercial, financial and agricultural loans Loans in this category consist primarily of term loans and lines of credit to small and middle-market businesses and professionals. The predominant risk characteristics of this segment are the cash flows of the business we lend to, global cash flows including guarantor liquidity, as well as economic and market conditions. The borrower’s business is typically regarded as the principal source of repayment, though our underwriting policy and practice generally requires secondary sources of support or collateral to mitigate risk. Paycheck Protection Program (“PPP”) loans are also in this category and are considered lower risk as they are guaranteed by the Small Business Administration (“SBA”) and may be forgivable in whole or in part in accordance with the requirements of the PPP. Home equity lines of credit Home equity lines of credit include fixed or floating interest rate loans and are primarily secured by single family owner-occupied primary residences in Hawaii. They are underwritten based on a minimum FICO score, maximum debt-to-income ratio, and maximum combined loan-to-value ratio. Home equity lines of credit are monitored based on credit score, delinquency, end of draw period and maturity. Residential mortgage loans Residential mortgage loans include fixed-rate and adjustable-rate loans secured by single family owner-occupied primary residences in Hawaii. Economic conditions such as unemployment levels, future changes in interest rates and other market factors impact the level of credit risk inherent in the portfolio. Consumer loans - other revolving This segment consists of consumer unsecured lines of credit. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Consumer loans - non-revolving This segment consists of consumer non-revolving (term) loans, including auto dealer loans. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Purchased consumer portfolios Credit risk for purchased consumer loans is managed on a pooled basis. The predominant risk characteristics of purchased consumer loans include current and projected economic conditions, employment and income levels, and the quality of purchased consumer loans. Below is a description of the methodologies mentioned above: Probability of Default/Loss Given Default ("PD/LGD") The PD/LGD calculation is based on a cohort methodology whereby loans in the same cohort are tracked over time to identify defaults and corresponding losses. PD/LGD analysis requires a portfolio segmented into pools, and we elected to then further sub-segment by risk characteristics suc h as Risk Rating, TDR status and Nonaccrual status to measure losses accurately. PD measures the count or dollar amount of loans that defaulted in a given cohort. LGD measures the losses related to the loans that defaulted. Total expected loss rate is calculated using the formula 'PD times LGD'. Loss-Rate Migration Loss-rate migration analysis is a cohort-based approach that measures cumulative net charge-offs over a defined time-horizon to calculate a loss rate that will be applied to the loan pool. Loss-rate migration analysis requires the portfolio to be segmented into pools then further sub-segmented by risk characteristics such as days past due, delinquency counters, T DR status and Nonaccrual status to measure loss rates accurately. The key inputs to run a loss-rate migration analysis are the length and frequency of the migration period, the dates for the migration periods to start and the number of migration periods used for the analysis. For each migration period, the analysis will determine the outstanding balance in each segment and/or sub-segment at the start of each period. These loans will then be followed for the length of the migration period to identify the amount of associated charge-offs and recoveries. A loss rate for each migration period is calculated using the formula 'net charge-offs over the period divided by beginning loan balance'. Weighted-Average Remaining Maturity ("WARM") Under the WARM methodology, lifetime losses are calculated by determining the remaining life of the loan pool and then applying a loss rate which includes a forecast component over this remaining life. The methodology considers historical loss experience as well as a loss forecast expectation to estimate credit losses for the remaining balance of the loan pool. The calculated loss rate is applied to the contractual term (adjusted for prepayments) to determine the loan pool’s current expected credit losses. Other If a loan ceases to share similar risk characteristics with other loans in its segment, it will be moved to a different pool sharing similar risk characteristics. Loans that do not share risk characteristics are evaluated on an individual basis based on the fair value of the collateral or other approaches such as discounted cash flow (“DCF”) techniques. Loans evaluated individually are not included in the collective evaluation. Determining the Term Expected credit losses are estimated over the contractual term of the loans and are adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. If such renewal options or extensions are present, these options are evaluated in determining the contractual term. Reserve for Off-Balance Sheet Credit Exposures The Company maintains a separate and distinct reserve for off-balance-sheet credit exposures which is included in other liabilities on the Company’s consolidated balance sheets. The Company estimates the amount of expected losses by calculating a commitment usage factor for letters of credit, non-revolving lines of credit, and revolving lines of credit over the remaining life during which the Company is exposed to credit risk via a contractual obligation to extend credit. Letters of credit are generally unlikely to advance since they are typically in place only to ensure various forms of performance of the borrowers. Many of the letters of credit are cash secured. Non-revolving lines of credit are determined to be likely to advance as these are typically construction lines. Meanwhile, the likelihood of revolving lines of credit advancing varies with each individual borrower. Therefore, the future usage of each line was estimated based on the average line utilization of the revolving line of credit portfolio as a whole. The reserve for off-balance-sheet credit exposures also applies the loss factors for each loan type used in the ACL for loans methodology, which is based on historical losses, economic conditions and reasonable and supportable forecasts. The reserve for off-balance sheet credit exposures is recorded as a provision for credit losses on off-balance sheet credit exposures in the provision for credit losses. Purchased Credit Deteriorated (“PCD”) Financial Assets The Company has purchased financial assets, none of which were credit deteriorated since origination at the time of purchase. The Company does not purchase any financial assets that are greater than 30 days delinquent at the time of purchase. PCD financial assets, if any, are recorded at the amount paid. An ACL for PCD financial assets will be determined using the same methodology as other financial assets. The initial ACL determined on a collective basis is allocated to individual financial assets. The sum of the financial asset’s purchase price and the ACL becomes its initial amortized cost. The difference between the initial amortized costs basis and the par value of the financial asset is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the ACL are recorded through the provision for credit losses.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Accounting Standards Adopted in 2022 In May 2021, the FASB issued ASU No. 2021-04, "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options" . ASU 2021-04 addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. ASU 2021-04 is effective for fiscal years beginning after December 15, 2021 and interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU 2021-04 effective January 1, 2022 and it did not have a material impact on our consolidated financial statements. In July 2021, the FASB issued ASU No. 2021-05, "Leases (Topic 842), Lessors—Certain Leases with Variable Lease Payments" . ASU 2021-05 updates guidance in Topic 842, to restore long-standing accounting practice for certain sales-type leases with variable payments. ASU 2021-05 is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. The Company adopted ASU 2021-05 effective January 1, 2022 and it did not have an impact on our consolidated financial statements as the Company does not have sale-type leases with variable payments. Impact of Other Recently Issued Accounting Pronouncements on Future Filings In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)." This ASU provides optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference LIBOR or other reference rates expected to be discontinued because of reference rate reform. Entities can (1) elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also (2) elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. Finally, entities can (3) make a one-time election to sell and/or reclassify held-to-maturity (“HTM”) debt securities that reference an interest rate affected by reference rate reform. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)," which clarifies that all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in Topic 848. The ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company will elect optional expedients above for applicable contract modifications and hedge accounting for hedging relationships that meet the stated criteria. In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method" . ASU 2022-01 updates guidance in Topic 815, to expand the current last-of-layer method, which will allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments on a prospective basis. ASU 2022-01 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is in the process of evaluating the provisions of this ASU and its effects on our consolidated financial statements, however we currently do not use the last-of-layer hedge accounting method. In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" . ASU 2022-02 updates guidance in Topic 326, to eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty and to require entities to disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost . ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is in the process of evaluating the provisions of this ASU and its effects on our consolidated financial statements and plans on making the adoption for the upcoming effective fiscal period.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of available for sale and held to maturity investment securities	are as follows: (dollars in thousands) Amortized Gross Gross Fair ACL March 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions $ 41,730 $ — $ (1) $ 41,729 $ — Mortgage-backed securities: Residential - U.S. Government-sponsored entities $ 287,777 $ — $ (3) $ 287,774 $ — Total held-to-maturity securities $ 329,507 $ — $ (4) $ 329,503 $ — Available-for-sale: Debt securities: States and political subdivisions $ 178,137 $ 487 $ (14,443) $ 164,181 $ — Corporate securities 36,561 — (3,507) 33,054 — U.S. Treasury obligations and direct obligations of U.S Government agencies 33,275 120 (1,224) 32,171 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 926,988 220 (69,010) 858,198 — Residential - Non-government agencies 11,088 101 (281) 10,908 — Commercial - U.S. Government-sponsored entities 63,074 17 (3,733) 59,358 — Commercial - Non-government agencies 41,333 279 — 41,612 — Total available-for-sale securities $ 1,290,456 $ 1,224 $ (92,198) $ 1,199,482 $ — (dollars in thousands) Amortized Gross Gross Fair ACL December 31, 2021 Available-for-sale: Debt securities: States and political subdivisions $ 235,521 $ 3,156 $ (1,849) $ 236,828 $ — Corporate securities 41,687 24 (1,065) 40,646 — U.S. Treasury obligations and direct obligations of U.S Government agencies 35,833 69 (568) 35,334 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 1,213,910 4,899 (19,993) 1,198,816 — Residential - Non-government agencies 11,942 335 (64) 12,213 — Commercial - U.S. Government-sponsored entities 66,287 756 (1,194) 65,849 — Commercial - Non-government agencies 41,328 685 — 42,013 — Total available-for-sale securities $ 1,646,508 $ 9,924 $ (24,733) $ 1,631,699 $ —
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity	The amortized cost and estimated fair value of our HTM and AFS debt securities at March 31, 2022 are shown below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. March 31, 2022 (dollars in thousands) Amortized Cost Fair Value Held-to-maturity: Debt securities: Due after ten years $ 41,730 $ 41,729 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 287,777 287,774 Total held-to-maturity securities $ 329,507 $ 329,503 Available-for-sale: Debt securities: Due in one year or less $ 5,614 $ 5,607 Due after one year through five years 20,250 20,432 Due after five years through ten years 83,032 78,488 Due after ten years 139,077 124,879 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 926,988 858,198 Residential - Non-government agencies 11,088 10,908 Commercial - U.S. Government-sponsored entities 63,074 59,358 Commercial - Non-government agencies 41,333 41,612 Total available-for-sale securities $ 1,290,456 $ 1,199,482
Schedule of investment securities in an unrealized loss position	There were a total of 273 and 153 debt securities which were in an unrealized loss position, without an ACL, at March 31, 2022 and December 31, 2021, respectively. Th e following tables summarize AFS debt securities which were in an unrealized loss position at March 31, 2022 and December 31, 2021, aggregated by major security type and length of time in a continuous unrealized loss position. Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2022 Debt securities: States and political subdivisions $ 163,055 $ (12,432) $ 9,445 $ (2,012) $ 172,500 $ (14,444) Corporate securities 4,696 (325) 28,358 (3,182) 33,054 (3,507) U.S. Treasury obligations and direct obligations of U.S Government agencies 4,808 (54) 19,215 (1,170) 24,023 (1,224) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 951,100 (50,975) 170,132 (18,038) 1,121,232 (69,013) Residential - Non-government agencies 6,336 (137) 852 (144) 7,188 (281) Commercial - U.S. Government-sponsored entities 36,944 (1,104) 14,579 (2,629) 51,523 (3,733) Total temporarily impaired securities $ 1,166,939 $ (65,027) $ 242,581 $ (27,175) $ 1,409,520 $ (92,202) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2021 Debt securities: States and political subdivisions $ 79,360 $ (1,252) $ 10,864 $ (597) $ 90,224 $ (1,849) Corporate securities 8,633 (235) 21,960 (830) 30,593 (1,065) U.S. Treasury obligations and direct obligations of U.S Government agencies 16,103 (415) 10,891 (153) 26,994 (568) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 926,570 (15,883) 114,747 (4,110) 1,041,317 (19,993) Residential - Non-government agencies — — 938 (64) 938 (64) Commercial - U.S. Government-sponsored entities 6,313 (205) 16,281 (989) 22,594 (1,194) Total temporarily impaired securities $ 1,036,979 $ (17,990) $ 175,681 $ (6,743) $ 1,212,660 $ (24,733)

LOANS AND CREDIT QUALITY (Table

LOANS AND CREDIT QUALITY (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Schedule of loans and leases, excluding loans held for sale	Loans, excluding loans held for sale, net of ACL under ASC 326 as of March 31, 2022 and December 31, 2021 consisted of the following: (dollars in thousands) March 31, 2022 December 31, 2021 Commercial, financial and agricultural: Small Business Administration Paycheck Protection Program $ 45,938 $ 94,850 Other 544,732 530,383 Real estate: Construction 123,767 123,351 Residential mortgage 1,873,405 1,875,200 Home equity 674,625 635,721 Commercial mortgage 1,245,423 1,222,138 Consumer 669,194 624,115 Gross loans 5,177,084 5,105,758 Net deferred fees (2,247) (4,109) Total loans, net of deferred fees and costs 5,174,837 5,101,649 Allowance for credit losses (64,754) (68,097) Total loans, net of allowance for credit losses $ 5,110,083 $ 5,033,552
Financing Receivable, Purchased With Credit Deterioration	The following table presents loans purchased by class for the periods presented: (dollars in thousands) U.S. Mainland Consumer - Unsecured U.S. Mainland Consumer - Automobile Total Three Months Ended March 31, 2022 Purchases: Outstanding balance $ 48,142 $ 34,024 $ 82,166 (Discount) premium (4,367) 1,914 (2,453) Purchase price $ 43,775 $ 35,938 $ 79,713 Three Months Ended March 31, 2021 Purchases: Outstanding balance $ 22,534 $ 12,990 $ 35,524 (Discount) premium (131) 666 535 Purchase price $ 22,403 $ 13,656 $ 36,059
Financing Receivable, Collateral-Dependent	The following table presents the amortized cost basis of collateral-dependent loans by class, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of March 31, 2022 and December 31, 2021: (dollars in thousands) Secured by Secured by Secured by Total Allocated March 31, 2022 Real estate: Residential mortgage $ 6,665 $ — $ — $ 6,665 $ — Home equity 820 — — 820 — Total $ 7,485 $ — $ — $ 7,485 $ — (dollars in thousands) Secured by Secured by Secured by Total Allocated December 31, 2021 Real estate: Residential mortgage $ 8,391 $ — $ — $ 8,391 $ — Home equity 786 — — 786 — Total $ 9,177 $ — $ — $ 9,177 $ —
Schedule of aging of the recorded investment in past due loans and leases, by class	The following tables present by class, the aging of the recorded investment in past due loans as of March 31, 2022 and December 31, 2021. The following tables also present the amortized cost of loans on nonaccrual status for which there was no related ACL under ASC 326 as of March 31, 2022 and December 31, 2021. (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total Nonaccrual March 31, 2022 Commercial, financial and agricultural: SBA PPP $ — $ — $ — $ — $ — $ 44,231 $ 44,231 $ — Other 710 323 592 293 1,918 542,498 544,416 — Real estate: Construction — — — — — 123,317 123,317 — Residential mortgage 7,512 4,538 111 3,804 15,965 1,858,083 1,874,048 3,804 Home equity 135 138 — 820 1,093 675,233 676,326 820 Commercial mortgage — — — — — 1,243,499 1,243,499 — Consumer 3,113 555 621 419 4,708 664,292 669,000 — Total $ 11,470 $ 5,554 $ 1,324 $ 5,336 $ 23,684 $ 5,151,153 $ 5,174,837 $ 4,624 (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total Nonaccrual December 31, 2021 Commercial, financial and agricultural: SBA PPP $ — $ — $ — $ — $ — $ 91,327 $ 91,327 $ — Other 970 604 945 183 2,702 527,419 530,121 — Real estate: Construction 638 — — — 638 122,229 122,867 — Residential mortgage 5,315 — — 4,623 9,938 1,866,042 1,875,980 4,623 Home equity 234 — 44 786 1,064 636,185 637,249 786 Commercial mortgage — — — — — 1,220,204 1,220,204 — Consumer 2,444 712 374 289 3,819 620,082 623,901 — Total $ 9,601 $ 1,316 $ 1,363 $ 5,881 $ 18,161 $ 5,083,488 $ 5,101,649 $ 5,409
Schedule Of Debt Instrument, Deferrals
Schedule of information related to loans modified in a TDR, by class	The Company did not modify any loans during the three months ended March 31, 2022. The Company modified one commercial, financial and agricultural loan totaling $0.6 million during the three months ended March 31,2021. The loan was paid off during the three months ended June 30, 2021. (dollars in thousands) Number of Recorded Increase in the Three Months Ended March 31, 2021 Commercial, financial and agricultural - Other 1 $ 560 $ — Total 1 $ 560 $ —
Schedule of recorded investment in loans and leases, by class and credit indicator	The following table presents the amortized cost basis of the Company's loans by class, credit quality indicator and origination year as of March 31, 2022 and December 31, 2021. Revolving loans converted to term as of and during the three months ended March 31, 2022 and 2021 were not material to the total loan portfolio. Amortized Cost of Term Loans by Origination Year (dollars in thousands) 2022 2021 2020 2019 2018 Prior Amortized Cost of Revolving Loans Total March 31, 2022 Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ — $ 41,446 $ 2,785 $ — $ — $ — $ — $ 44,231 Subtotal — 41,446 2,785 — — — — 44,231 Commercial, financial and agricultural - Other: Risk Rating Pass 22,335 116,423 62,923 53,061 50,404 135,034 78,849 519,029 Special Mention 1,720 615 260 2,557 97 8,259 175 13,683 Substandard — — 1,592 320 617 8,425 750 11,704 Subtotal 24,055 117,038 64,775 55,938 51,118 151,718 79,774 544,416 Construction: Risk Rating Pass 1,386 40,722 28,751 3,165 26,372 20,169 1,841 122,406 Substandard — — — — 911 — — 911 Subtotal 1,386 40,722 28,751 3,165 27,283 20,169 1,841 123,317 Residential mortgage: Risk Rating Pass 75,178 664,439 461,369 169,718 70,625 427,838 — 1,869,167 Substandard — — 967 — — 3,914 — 4,881 Subtotal 75,178 664,439 462,336 169,718 70,625 431,752 — 1,874,048 Home equity: Risk Rating Pass 17,421 25,375 12,329 8,607 9,230 9,598 592,763 675,323 Special Mention — — — — — — 183 183 Substandard — — 175 — 79 566 — 820 Subtotal 17,421 25,375 12,504 8,607 9,309 10,164 592,946 676,326 Commercial mortgage: Risk Rating Pass 58,265 227,168 122,565 142,287 121,026 517,380 9,183 1,197,874 Special Mention — 1,174 — 5,736 1,020 9,655 — 17,585 Substandard — — — 1,737 10,227 16,076 — 28,040 Subtotal 58,265 228,342 122,565 149,760 132,273 543,111 9,183 1,243,499 Consumer: Risk Rating Pass 74,303 315,526 85,061 78,307 35,064 23,082 56,454 667,797 Special Mention — — — 163 — — — 163 Substandard — 60 44 178 83 495 — 860 Loss — — — — — 180 — 180 Subtotal 74,303 315,586 85,105 78,648 35,147 23,757 56,454 669,000 Total $ 250,608 $ 1,432,948 $ 778,821 $ 465,836 $ 325,755 $ 1,180,671 $ 740,198 $ 5,174,837 Amortized Cost of Term Loans by Origination Year (dollars in thousands) 2021 2020 2019 2018 2017 Prior Amortized Cost of Revolving Loans Total December 31, 2021 Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ 84,254 $ 7,073 $ — $ — $ — $ — $ — $ 91,327 Subtotal 84,254 7,073 — — — — — 91,327 Commercial, financial and agricultural - Other: Risk Rating Pass $ 122,729 $ 68,021 $ 56,531 $ 52,375 $ 31,817 $ 93,957 $ 79,131 $ 504,561 Special Mention 1,441 1,278 2,443 96 8,671 354 — 14,283 Substandard — 982 393 682 6,623 1,847 750 11,277 Subtotal 124,170 70,281 59,367 53,153 47,111 96,158 79,881 530,121 Construction: Risk Rating Pass 35,236 25,430 3,196 28,333 288 20,090 9,376 121,949 Substandard — — — 918 — — — 918 Subtotal 35,236 25,430 3,196 29,251 288 20,090 9,376 122,867 Residential mortgage: Risk Rating Pass 670,011 478,891 180,687 75,820 92,394 372,539 42 1,870,384 Special Mention — 973 — — — — — 973 Substandard — — — 577 881 3,165 — 4,623 Subtotal 670,011 479,864 180,687 76,397 93,275 375,704 42 1,875,980 Home equity: Risk Rating Pass 26,479 13,008 10,329 10,593 480 7,743 567,600 636,232 Special Mention — — — — — — 187 187 Substandard — 176 — 79 — 575 — 830 Subtotal 26,479 13,184 10,329 10,672 480 8,318 567,787 637,249 Commercial mortgage: Risk Rating Pass 229,108 126,169 146,584 126,014 153,041 387,751 9,472 1,178,139 Special Mention — — 3,106 3,219 283 9,455 — 16,063 Substandard — — 1,760 8,050 1,784 14,408 — 26,002 Subtotal 229,108 126,169 151,450 137,283 155,108 411,614 9,472 1,220,204 Consumer: Risk Rating Pass 308,326 96,066 91,194 41,995 20,719 9,446 55,311 623,057 Special Mention — — 181 — 10 7 — 198 Substandard 10 35 128 80 19 221 — 493 Loss — — — — — 153 — 153 Subtotal 308,336 96,101 91,503 42,075 20,748 9,827 55,311 623,901 Total $ 1,477,594 $ 818,102 $ 496,532 $ 348,831 $ 317,010 $ 921,711 $ 721,869 $ 5,101,649 The following tables present the Company's loans by class and credit quality indicator as of March 31, 2022 and December 31, 2021: (dollars in thousands) Pass Special Mention Substandard Loss Subtotal Net Deferred Fees and Costs Total March 31, 2022 Commercial, financial and agricultural: SBA PPP $ 45,938 $ — $ — $ — $ 45,938 $ (1,707) $ 44,231 Commercial, financial and agricultural: Other 519,345 13,683 11,704 — 544,732 (316) 544,416 Real estate: Construction 122,856 — 911 — 123,767 (450) 123,317 Residential mortgage 1,868,524 — 4,881 — 1,873,405 643 1,874,048 Home equity 673,622 183 820 — 674,625 1,701 676,326 Commercial mortgage 1,199,798 17,585 28,040 — 1,245,423 (1,924) 1,243,499 Consumer 667,991 163 860 180 669,194 (194) 669,000 Total $ 5,098,074 $ 31,614 $ 47,216 $ 180 $ 5,177,084 $ (2,247) $ 5,174,837 (dollars in thousands) Pass Special Mention Substandard Loss Subtotal Net Deferred Fees and Costs Total December 31, 2021 Commercial, financial and agricultural: SBA PPP $ 94,850 $ — $ — $ — $ 94,850 $ (3,523) $ 91,327 Commercial, financial and agricultural: Other 504,823 14,283 11,277 — 530,383 (262) 530,121 Real estate: Construction 122,433 — 918 — 123,351 (484) 122,867 Residential mortgage 1,869,604 973 4,623 — 1,875,200 780 1,875,980 Home equity 634,704 187 830 — 635,721 1,528 637,249 Commercial mortgage 1,180,074 16,062 26,002 — 1,222,138 (1,934) 1,220,204 Consumer 623,271 181 510 153 624,115 (214) 623,901 Total $ 5,029,759 $ 31,686 $ 44,160 $ 153 $ 5,105,758 $ (4,109) $ 5,101,649

ALLOWANCE FOR CREDIT LOSSES A_2

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Tables)	3 Months Ended
	Mar. 31, 2022
ALLOWANCE FOR LOAN AND LEASE LOSSES
Schedule of activity in the allowance, by class	The following table presents by class, the activity in the ACL for loans under ASC 326 during the three months ended March 31, 2022 and March 31, 2021: Commercial, Financial and Agricultural Real Estate (dollars in thousands) SBA PPP Other Construction Residential Mortgage Home Equity Commercial Mortgage Consumer Total Three Months Ended March 31, 2022 Beginning balance $ 77 $ 10,314 $ 3,908 $ 12,463 $ 4,509 $ 18,411 $ 18,415 $ 68,097 (Credit) provision for credit losses on loans (41) (848) (72) (1,532) 132 (2,356) 1,786 (2,931) Subtotal 36 9,466 3,836 10,931 4,641 16,055 20,201 65,166 Charge-offs — 254 — — — — 1,216 1,470 Recoveries — 350 — 112 — — 596 1,058 Net charge-offs (recoveries) — (96) — (112) — — 620 412 Ending balance $ 36 $ 9,562 $ 3,836 $ 11,043 $ 4,641 $ 16,055 $ 19,581 $ 64,754 Three Months Ended March 31, 2021 Beginning balance $ 304 $ 18,717 $ 4,277 $ 16,484 $ 5,449 $ 22,163 $ 15,875 $ 83,269 (Credit) provision for credit losses on loans 185 (2,733) 770 (1,233) (207) 563 1,681 (974) Subtotal 489 15,984 5,047 15,251 5,242 22,726 17,556 82,295 Charge-offs — 609 — — — — 1,098 1,707 Recoveries — 89 — 106 9 8 753 965 Net charge-offs (recoveries) — 520 — (106) (9) (8) 345 742 Ending balance $ 489 $ 15,464 $ 5,047 $ 15,357 $ 5,251 $ 22,734 $ 17,211 $ 81,553 The following table presents the activity in the reserve for off-balance sheet credit exposures, included in other liabilities, during the three months ended March 31, 2022 and March 31, 2021. (dollars in thousands) Three Months Ended March 31, 2022 Beginning balance $ 4,804 (Credit) provision for off-balance sheet credit exposures (264) Ending balance $ 4,540 Three Months Ended March 31, 2021 Beginning balance $ 4,884 Provision for off-balance sheet credit exposures 153 Ending balance $ 5,037

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Tables)	3 Months Ended
	Mar. 31, 2022
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Schedule of investment in unconsolidated subsidiaries	The components of the Company's investments in unconsolidated entities were as follows: (dollars in thousands) March 31, 2022 December 31, 2021 Investments in low income housing tax credit partnerships, net of amortization $ 25,309 $ 25,916 Investments in common securities of statutory trusts 1,547 1,547 Investments in affiliates 187 162 Other 4,049 2,054 Total $ 31,092 $ 29,679 The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the three months ended March 31, 2022 and March 31, 2021: (dollars in thousands) Three Months Ended Three Months Ended Proportional amortization method: Amortization expense recognized in income tax expense $ 607 $ 407 Tax credits recognized in income tax expense 709 474
Other Commitments	The expected payments for the unfunded commitments as of March 31, 2022 for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, LIHTC partnerships Other partnerships Total 2022 (remainder) $ 6,071 $ 1,653 $ 7,724 2023 8,128 — 8,128 2024 26 — 26 2025 6 — 6 2026 6 — 6 2027 6 — 6 Thereafter 32 — 32 Total unfunded commitments $ 14,275 $ 1,653 $ 15,928

MORTGAGE SERVICING RIGHTS (Tabl

MORTGAGE SERVICING RIGHTS (Tables)	3 Months Ended
	Mar. 31, 2022
OTHER INTANGIBLE ASSETS
Schedule of gross carrying value and accumulated amortization related to intangible assets	The following table presents changes in mortgage servicing rights for the periods presented: (dollars in thousands) Mortgage Balance, January 1, 2022 $ 9,738 Additions 276 Amortization (534) Balance, March 31, 2022 $ 9,480 Balance, January 1, 2021 $ 11,865 Additions 461 Amortization (1,232) Balance, March 31, 2021 $ 11,094 The gross carrying value and accumulated amortization related to our mortgage servicing rights are presented below: March 31, 2022 December 31, 2021 (dollars in thousands) Gross Accumulated Net Gross Accumulated Net Mortgage servicing rights $ 72,526 $ (63,046) $ 9,480 $ 72,250 $ (62,512) $ 9,738
Schedule of fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights	The following tables present the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Three Months Ended Three Months Ended (dollars in thousands) March 31, 2022 March 31, 2021 Fair market value, beginning of period $ 10,504 $ 12,003 Fair market value, end of period 11,166 11,673 Weighted average discount rate 9.5 % 9.6 % Weighted average prepayment speed assumption 18.3 % 17.5 %
Schedule of estimated amortization expense	Based on the mortgage servicing rights held as of March 31, 2022, estimated amortization expense for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2022 (remainder) $ 1,671 2023 1,837 2024 1,506 2025 1,231 2026 1,026 2027 852 Thereafter 1,357 Total $ 9,480

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the location of all assets and liabilities associated with derivative instruments within the consolidated balance sheets	The following table presents the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheets: Derivative Financial Instruments Not Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate lock and forward sale commitments Other assets / other liabilities $ 149 $ 5 $ 5 $ 4 Risk participation agreements Other assets / other liabilities — — — 16 Back-to-back swap agreements Other assets / other liabilities 1,624 435 1,624 435 Derivative Financial Instruments Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate swap Other assets / other liabilities $ — $ — $ 50 $ —
Schedule of the impact of derivative instruments and their location within the consolidated statements of income	The following table presents the impact of derivative instruments and their location within the consolidated statements of income: Derivative Financial Instruments Location of Gain (Loss) Amount of Gain (Loss) (dollars in thousands) Three Months Ended March 31, 2022 Interest rate lock and forward sale commitments Mortgage banking income 143 Loans held for sale Other income (63) Risk participation agreements Other service charges and fees 16 Back-to-back swap agreements Other service charges and fees — Three Months Ended March 31, 2021 Interest rate lock and forward sale commitments Mortgage banking income 180 Loans held for sale Other income (1) Risk participation agreements Other service charges and fees — Back-to-back swap agreements Other service charges and fees 31

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Subordinated Borrowing	At March 31, 2022 and December 31, 2021, the Company had the following junior subordinated debentures outstanding, which is recorded in long-term debt on the Company's consolidated balance sheets: (dollars in thousands) March 31, 2022 Name of Trust Subordinated Debentures Interest Rate Trust IV $ 30,928 Three month LIBOR + 2.45% Trust V 20,619 Three month LIBOR + 1.87% Total $ 51,547 December 31, 2021 Name of Trust Subordinated Debentures Interest Rate Trust IV $ 30,928 Three month LIBOR + 2.45% Trust V 20,619 Three month LIBOR + 1.87% Total $ 51,547
Schedule of Long-term Debt Instruments	As of March 31, 2022 and December 31, 2021, the Company had the following subordinated notes outstanding: (Dollars in thousands) March 31, 2022 Name Amount of Subordinated Notes Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points. (Dollars in thousands) December 31, 2021 Name of Trust Amount of Subordinated Debentures Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Other operating income segregated by revenue streams	The following presents the Company's other operating income, segregated by revenue streams that are in-scope and out-of-scope of ASC 606, "Revenue from Contracts with Customers" for the three months ended March 31, 2022 and 2021: Three Months Ended (dollars in thousands) 2022 2021 Other operating income: In-scope of ASC 606 Mortgage banking income $ 235 $ 838 Service charges on deposit accounts 1,861 1,478 Other service charges and fees 3,863 3,178 Income on fiduciary activities 1,154 1,231 In-scope other operating income 7,113 6,725 Out-of-scope other operating income 2,438 3,986 Total other operating income $ 9,551 $ 10,711

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of activity of restricted stock awards and units	The table below presents the activity of restricted stock units for the three months ended March 31, 2022: Shares Weighted Average Grant Date Fair Value Fair Value of Restricted Stock Awards and Units That Vested During the Period Non-vested restricted stock units, beginning of period 485,339 $ 21.95 Changes during the period: Granted 95,155 29.38 Vested (89,304) 24.61 $ 2,652 Forfeited (39,749) 28.00 Non-vested restricted stock units, end of period 451,441 22.46

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease, Cost [Table Text Block]	Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the period indicated: Three Months Ended (dollars in thousands) 2022 2021 Lease cost: Operating lease cost $ 1,390 $ 1,571 Variable lease cost 830 720 Less: sublease income (12) — Total lease cost $ 2,208 $ 2,291 Other information: Operating cash flows from operating leases $ (1,506) $ (1,599) Weighted-average remaining lease term - operating leases 11.49 years 11.78 years Weighted-average discount rate - operating leases 3.92 % 3.89 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter: (dollars in thousands) Year Ending December 31, Undiscounted Cash Flows Lease Liability Expense Lease Liability Reduction 2022 (remainder) $ 4,420 $ 1,113 $ 3,307 2023 5,183 1,343 3,840 2024 4,508 1,214 3,294 2025 4,195 1,088 3,107 2026 4,133 968 3,165 2027 4,123 843 3,280 Thereafter 23,253 3,636 19,617 Total $ 49,815 $ 10,205 $ 39,610
Operating Lease, Lease Income [Table Text Block]	The following represents lease income related to these leases that was recognized for the period indicated: Three Months Ended (dollars in thousands) 2022 2021 Total rental income recognized $ 951 $ 520
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]	Based on the Company's leases as lessor as of March 31, 2022, estimated lease payments for the remainder of fiscal year 2022, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2022 (remainder) $ 1,532 2023 923 2024 521 2025 304 2026 171 2027 131 Thereafter 304 Total $ 3,886

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of components of other comprehensive income (loss)	The following tables present the components of other comprehensive loss for the three months ended March 31, 2022 and 2021, by component: (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2022 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (108,448) $ (28,998) $ (79,450) Net unrealized losses on investment securities (108,448) (28,998) (79,450) Net unrealized losses on derivatives: Net unrealized losses arising during the period $ (50) $ (13) $ (37) Net unrealized losses on derivatives (50) (13) (37) Defined benefit plans: Amortization of net actuarial loss 133 36 97 Amortization of net transition obligation 4 1 3 Defined benefit plans, net 137 37 100 Other comprehensive loss $ (108,361) $ (28,974) $ (79,387) (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2021 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (23,619) $ (6,318) $ (17,301) Net unrealized losses on investment securities (23,619) (6,318) (17,301) Defined benefit plans: Amortization of net actuarial loss 246 66 180 Amortization of net transition obligation 5 1 4 Defined benefit plans, net 251 67 184 Other comprehensive loss $ (23,368) $ (6,251) $ (17,117)
Schedule of changes in each component of AOCI, net of tax	The following tables present the changes in each component of AOCI, net of tax, for the three months ended March 31, 2022 and 2021: (dollars in thousands) Investment Derivatives Defined AOCI Three Months Ended March 31, 2022 Balance at beginning of period $ (3,666) $ — $ (4,294) $ (7,960) Other comprehensive loss before reclassifications (79,450) (37) — (79,487) Reclassification adjustments from AOCI — — 100 100 Total other comprehensive income (loss) (79,450) (37) 100 (79,387) Balance at end of period $ (83,116) $ (37) $ (4,194) $ (87,347) (dollars in thousands) Investment Derivatives Defined AOCI Three Months Ended March 31, 2021 Balance at beginning of period $ 26,651 $ — $ (6,523) $ 20,128 Other comprehensive loss before reclassifications (17,301) — — (17,301) Reclassification adjustments from AOCI — — 184 184 Total other comprehensive income (loss) (17,301) — 184 (17,117) Balance at end of period $ 9,350 $ — $ (6,339) $ 3,011
Schedule of amounts reclassified out of each component of AOCI	The following table presents the amounts reclassified out of each component of AOCI for the three months ended March 31, 2022 and 2021: Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components Three months ended March 31, (dollars in thousands) 2022 2021 Defined benefit retirement and supplemental executive retirement plan items: Amortization of net actuarial loss $ (133) $ (246) Other operating expense - other Amortization of net transition obligation (4) (5) Other operating expense - other Total before tax (137) (251) Tax effect 37 67 Income tax benefit (expense) Net of tax $ (100) $ (184) Total reclassification adjustments from AOCI for the period, net of tax $ (100) $ (184)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of information used to compute basic and diluted earnings per share	The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated: Three Months Ended (dollars in thousands, except per share data) 2022 2021 Net income $ 19,438 $ 18,038 Weighted average common shares outstanding - basic 27,591,390 28,108,648 Dilutive effect of employee stock options and awards 283,534 204,366 Weighted average common shares outstanding - diluted 27,874,924 28,313,014 Basic earnings per common share $ 0.70 $ 0.64 Diluted earnings per common share $ 0.70 $ 0.64

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of carrying amount and estimated fair value of financial instruments	Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant March 31, 2022 Financial assets: Cash and due from banks $ 83,947 $ 83,947 $ 83,947 $ — $ — Interest-bearing deposits in other banks 118,183 118,183 118,183 — — Investment securities 1,528,989 1,528,985 — 1,520,904 8,081 Loans held for sale 4,677 4,677 — 4,677 — Loans, net of ACL 5,110,083 4,688,605 — — 4,688,605 Accrued interest receivable 16,423 16,423 16,423 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,269,562 2,269,562 2,269,562 — — Interest-bearing demand and savings and money market 3,630,931 3,630,931 3,630,931 — — Time 698,538 692,253 — — 692,253 Long-term debt 105,677 91,117 — — 91,117 Accrued interest payable (included in other liabilities) 1,807 1,807 1,807 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant March 31, 2022 Derivatives: Interest rate lock commitments $ 899 $ (2) $ (2) $ — $ (2) $ — Forward sale commitments 5,669 146 146 — 146 — Risk participation agreements 37,426 — — — — — Back-to-back swap agreements: Assets 32,919 1,624 1,624 — — 1,624 Liabilities 32,919 (1,624) (1,624) — — (1,624) Interest rate swap 115,545 (50) (50) — — (50) Off-balance sheet financial instruments: Commitments to extend credit 1,308,724 — 1,402 — 1,402 — Standby letters of credit and financial guarantees written 6,058 — 91 — 91 — Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant December 31, 2021 Financial assets: Cash and due from banks $ 81,506 $ 81,506 $ 81,506 $ — $ — Interest-bearing deposits in other banks 247,401 247,401 247,401 — — Investment securities 1,631,699 1,631,699 — 1,623,080 8,619 Loans held for sale 3,531 3,531 — 3,531 — Loans, net of ACL 5,033,552 4,741,379 — — 4,741,379 Accrued interest receivable 16,709 16,709 16,709 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,291,246 2,291,246 2,291,246 — — Interest-bearing demand and savings and money market 3,641,180 3,641,180 3,641,180 — — Time 706,732 704,645 — — 704,645 Long-term debt 105,616 94,588 — — 94,588 Accrued interest payable (included in other liabilities) 1,122 1,122 1,122 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant December 31, 2021 Derivatives: Forward sale commitments 3,525 1 1 — 1 — Risk participation agreements 37,531 (16) (16) — — (16) Back-to-back swap agreements: Assets 33,112 435 435 — — 435 Liabilities 33,112 (435) (435) — — (435) Off-balance sheet financial instruments: Commitments to extend credit 1,266,596 — 1,347 — 1,347 — Standby letters of credit and financial guarantees written 6,634 — 100 — 100 —
Schedule of balances of assets and liabilities measured at fair value on a recurring basis	The following tables present the fair value of assets and liabilities measured on a recurring basis as of March 31, 2022 and December 31, 2021: Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant March 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions 41,729 — 41,729 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 287,774 — 287,774 — Total held-to-maturity securities 329,503 — 329,503 — Available-for-sale securities: Debt securities: States and political subdivisions $ 164,181 $ — $ 156,952 $ 7,229 Corporate securities 33,054 — 33,054 — U.S. Treasury obligations and direct obligations of U.S Government agencies 32,171 — 32,171 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 858,198 — 858,198 — Residential - Non-government agencies 10,908 — 10,056 852 Commercial - U.S. Government-sponsored entities 59,358 — 59,358 — Commercial - Non-government agencies 41,612 — 41,612 — Total available-for-sale securities 1,199,482 — 1,191,401 8,081 Derivatives: Interest rate lock, forward sale commitments, risk participation agreements, back-to-back swap agreements, and interest rate swap agreements 94 — 144 (50) Total $ 1,529,079 $ — $ 1,521,048 $ 8,031 Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant December 31, 2021 Available-for-sale securities: Debt securities: States and political subdivisions $ 236,828 $ — $ 229,147 $ 7,681 Corporate securities 40,646 — 40,646 — U.S. Treasury obligations and direct obligations of U.S Government agencies 35,334 — 35,334 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 1,198,816 — 1,198,816 — Residential - Non-government agencies 12,213 — 11,275 938 Commercial - U.S. Government-sponsored entities 65,849 — 65,849 — Commercial - Non-government agencies 42,013 — 42,013 — Total available-for-sale securities 1,631,699 — 1,623,080 8,619 Derivatives: Interest rate lock, forward sale commitments, risk participation agreements, back-to-back swap agreements, and interest rate swap agreements (15) — 1 (16) Total $ 1,631,684 $ — $ 1,623,081 $ 8,603
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	For the three months ended March 31, 2022 and 2021, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Available-For-Sale Debt Securities: (dollars in thousands) States and Political Subdivisions Residential - Non-Government Agencies Total Balance at December 31, 2021 $ 7,681 $ 938 $ 8,619 Principal payments received (55) (5) (60) Unrealized net loss included in other comprehensive income (397) (81) (478) Balance at March 31, 2022 $ 7,229 $ 852 $ 8,081 Balance at December 31, 2020 $ 11,337 $ 989 $ 12,326 Principal payments received (1,973) (5) (1,978) Unrealized net loss included in other comprehensive income (673) (79) (752) Balance at March 31, 2021 $ 8,691 $ 905 $ 9,596

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)segment	Sep. 30, 2021USD ($)	Dec. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Jan. 31, 2020
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 0.2		$ 0.2
Proportional Amortization Investments	25.3		25.9
Cost method investment	$ 5.6		3.6
Number of operating segments | segment	1
Available for sale accrued interest receivable	$ 3.6		4.6
Accrued interest receivable on HTM debt securities	0.6		0
Financing receivable accrued interest receivable	$ 12.2		$ 12.1
Financing Receivable, Accrued Interest, Allowance for Credit Loss		$ 0.2
Provision for Loan, Lease, and Other Losses		$ 0.2
Oahu HomeLoans, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage					50.00%
Haseko Home Loans L L C
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Gentry Home Loans L L C
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Island Pacific HomeLoans, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Swell Financial, Inc.
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 2
Other intangible assets and services provided in exchange for common stock	1.5
Cash in exchange for preferred stock	$ 0.5
JAM FINTOP Banktech Fund, L.P.
Schedule of Equity Method Investments [Line Items]
Equity Method Investments				$ 2

INVESTMENT SECURITIES (Availabl

INVESTMENT SECURITIES (Available for Sale and Held to Maturity Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 329,507
Gross unrealized gains	0
Gross Unrealized Losses	(4)
Held to maturity, fair value	329,503	$ 0
Held-to-maturity, allowance for credit loss	0
Available for Sale
Amortized cost	1,290,456	1,646,508
Gross unrealized gains	1,224	9,924
Gross unrealized losses	(92,198)	(24,733)
Fair value	1,199,482	1,631,699
Available-for-sale, allowance for credit loss	0	0
States and political subdivisions
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	41,730
Gross unrealized gains	0
Gross Unrealized Losses	(1)
Held to maturity, fair value	41,729
Held-to-maturity, allowance for credit loss	0
Available for Sale
Amortized cost	178,137	235,521
Gross unrealized gains	487	3,156
Gross unrealized losses	(14,443)	(1,849)
Fair value	164,181	236,828
Available-for-sale, allowance for credit loss	0	0
Corporate securities
Available for Sale
Amortized cost	36,561	41,687
Gross unrealized gains	0	24
Gross unrealized losses	(3,507)	(1,065)
Fair value	33,054	40,646
Available-for-sale, allowance for credit loss	0	0
U.S. Treasury obligations and direct obligations of U.S Government agencies
Available for Sale
Amortized cost	33,275	35,833
Gross unrealized gains	120	69
Gross unrealized losses	(1,224)	(568)
Fair value	32,171	35,334
Available-for-sale, allowance for credit loss	0	0
Residential - U.S. Government-sponsored entities
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	287,777
Gross unrealized gains	0
Gross Unrealized Losses	(3)
Held to maturity, fair value	287,774
Held-to-maturity, allowance for credit loss	0
Available for Sale
Amortized cost	926,988	1,213,910
Gross unrealized gains	220	4,899
Gross unrealized losses	(69,010)	(19,993)
Fair value	858,198	1,198,816
Available-for-sale, allowance for credit loss	0	0
Residential - Non-government agencies
Available for Sale
Amortized cost	11,088	11,942
Gross unrealized gains	101	335
Gross unrealized losses	(281)	(64)
Fair value	10,908	12,213
Available-for-sale, allowance for credit loss	0	0
Commercial - U.S. Government-sponsored entities
Available for Sale
Amortized cost	63,074	66,287
Gross unrealized gains	17	756
Gross unrealized losses	(3,733)	(1,194)
Fair value	59,358	65,849
Available-for-sale, allowance for credit loss	0	0
Commercial - Non-government agencies
Available for Sale
Amortized cost	41,333	41,328
Gross unrealized gains	279	685
Gross unrealized losses	0	0
Fair value	41,612	42,013
Available-for-sale, allowance for credit loss	$ 0	$ 0

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)securityinvestmentshares	Dec. 31, 2021USD ($)security
Class of Stock [Line Items]
Investment securities classified from available-for-sale to held-to-maturity | investment	41
Investment securities, amortized cost basis	$ 361,800
Held to maturity, fair value	329,503	$ 0
Net unrealized loss from transfer of securities	32,300
Investment securities pledged as collateral	$ 408,300	$ 455,800
Number of investment securities in an unrealized loss position | security	273	153
Common Class B | Visa
Class of Stock [Line Items]
Shares owned (in shares) | shares	34,631

INVESTMENT SECURITIES (Amortize

INVESTMENT SECURITIES (Amortized Cost and Estimated Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Held-to-maturity, Amortized Cost
Due after ten years	$ 41,730
Total held-to-maturity securities	329,507	$ 0
Held-to-maturity, Fair Value
Due after ten years	41,729
Held to maturity, fair value	329,503	0
Available for Sale, Amortized Cost
Due in one year or less	5,614
Due after one year through five years	20,250
Due after five years through ten years	83,032
Due after ten years	139,077
Total	1,290,456	1,646,508
Available for Sale, Estimated Fair Value
Due in one year or less	5,607
Due after one year through five years	20,432
Due after five years through ten years	78,488
Due after ten years	124,879
Available-for-sale debt securities, at fair value	1,199,482	1,631,699
Residential - U.S. Government-sponsored entities
Held-to-maturity, Amortized Cost
Mortgage-backed securities	287,777
Held-to-maturity, Fair Value
Mortgage-backed securities	287,774
Held to maturity, fair value	287,774
Available for Sale, Amortized Cost
Mortgage-backed securities	926,988
Total	926,988	1,213,910
Available for Sale, Estimated Fair Value
Mortgage-backed securities	858,198
Available-for-sale debt securities, at fair value	858,198	1,198,816
Residential - Non-government agencies
Available for Sale, Amortized Cost
Mortgage-backed securities	11,088
Total	11,088	11,942
Available for Sale, Estimated Fair Value
Mortgage-backed securities	10,908
Available-for-sale debt securities, at fair value	10,908	12,213
Commercial - U.S. Government-sponsored entities
Available for Sale, Amortized Cost
Mortgage-backed securities	63,074
Total	63,074	66,287
Available for Sale, Estimated Fair Value
Mortgage-backed securities	59,358
Available-for-sale debt securities, at fair value	59,358	65,849
Commercial - Non-government agencies
Available for Sale, Amortized Cost
Mortgage-backed securities	41,333
Total	41,333	41,328
Available for Sale, Estimated Fair Value
Mortgage-backed securities	41,612
Available-for-sale debt securities, at fair value	$ 41,612	$ 42,013

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities at an Unrealized Loss Position) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
INVESTMENT SECURITIES
Less than 12 months, Fair Value	$ 1,166,939	$ 1,036,979
Less than 12 months, Unrealized Losses	(65,027)	(17,990)
12 months or longer, Fair Value	242,581	175,681
12 months or longer, Unrealized Losses	(27,175)	(6,743)
Total, Fair Value	1,409,520	1,212,660
Total, Unrealized Losses	(92,202)	(24,733)
States and political subdivisions
INVESTMENT SECURITIES
Less than 12 months, Fair Value	163,055	79,360
Less than 12 months, Unrealized Losses	(12,432)	(1,252)
12 months or longer, Fair Value	9,445	10,864
12 months or longer, Unrealized Losses	(2,012)	(597)
Total, Fair Value	172,500	90,224
Total, Unrealized Losses	(14,444)	(1,849)
Corporate securities
INVESTMENT SECURITIES
Less than 12 months, Fair Value	4,696	8,633
Less than 12 months, Unrealized Losses	(325)	(235)
12 months or longer, Fair Value	28,358	21,960
12 months or longer, Unrealized Losses	(3,182)	(830)
Total, Fair Value	33,054	30,593
Total, Unrealized Losses	(3,507)	(1,065)
U.S. Treasury obligations and direct obligations of U.S Government agencies
INVESTMENT SECURITIES
Less than 12 months, Fair Value	4,808	16,103
Less than 12 months, Unrealized Losses	(54)	(415)
12 months or longer, Fair Value	19,215	10,891
12 months or longer, Unrealized Losses	(1,170)	(153)
Total, Fair Value	24,023	26,994
Total, Unrealized Losses	(1,224)	(568)
Residential - U.S. Government-sponsored entities
INVESTMENT SECURITIES
Less than 12 months, Fair Value	951,100	926,570
Less than 12 months, Unrealized Losses	(50,975)	(15,883)
12 months or longer, Fair Value	170,132	114,747
12 months or longer, Unrealized Losses	(18,038)	(4,110)
Total, Fair Value	1,121,232	1,041,317
Total, Unrealized Losses	(69,013)	(19,993)
Residential - Non-government agencies
INVESTMENT SECURITIES
Less than 12 months, Fair Value	6,336	0
Less than 12 months, Unrealized Losses	(137)	0
12 months or longer, Fair Value	852	938
12 months or longer, Unrealized Losses	(144)	(64)
Total, Fair Value	7,188	938
Total, Unrealized Losses	(281)	(64)
Commercial - U.S. Government-sponsored entities
INVESTMENT SECURITIES
Less than 12 months, Fair Value	36,944	6,313
Less than 12 months, Unrealized Losses	(1,104)	(205)
12 months or longer, Fair Value	14,579	16,281
12 months or longer, Unrealized Losses	(2,629)	(989)
Total, Fair Value	51,523	22,594
Total, Unrealized Losses	$ (3,733)	$ (1,194)

LOANS AND CREDIT QUALITY (Loans

LOANS AND CREDIT QUALITY (Loans and Leases) (Details) $ in Thousands	Mar. 27, 2020	Mar. 31, 2022USD ($)propertyloansegment	Mar. 31, 2021USD ($)loancontract	Dec. 31, 2021USD ($)	Aug. 31, 2020USD ($)segment
LOANS AND LEASES
Loans and leases, gross		$ 5,177,084		$ 5,105,758
Net deferred fees		(2,247)		(4,109)
Loans		5,174,837		5,101,649
Financing Receivable, Allowance for Credit Loss		(64,754)		(68,097)
Loans and Leases Receivable, Net Amount		$ 5,110,083		5,033,552
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Number Of Loans Issued By Financial Institutions Through The SBA | segment		4,600			7,200
Loans Issued By Financial Institutions Through The SBA		$ 320,900			$ 558,900
Processing fees from loans issued by financial institutions through the SBA		18,400			$ 21,200
Payment for loans forgiven		846,800
Net transfer of loans to loans held for sale		$ 0	$ 0
Loans And Leases Receivable, Number Of Loans Sold | loan		0	0
Mortgage loans foreclosure, number sold | property		0
Mortgage loans foreclosure, number | loan		0	0
Minimum
LOANS AND LEASES
Debt instrument, term	2 years
Debt Issuance Costs, Percent	1.00%
Maximum
LOANS AND LEASES
Debt instrument, term	5 years
Debt Issuance Costs, Percent	5.00%
Consumer
LOANS AND LEASES
Number of TDRs included in nonperforming assets | contract			1
Recorded Investment (as of Period End)			$ 560
Amount of TDRs still accruing interest			$ 0
Consumer | Consumer
LOANS AND LEASES
Loans and leases, gross		$ 669,194		624,115
Net deferred fees		(194)		(214)
Loans		669,000		623,901
Real Estate | Construction
LOANS AND LEASES
Loans and leases, gross		123,767		123,351
Net deferred fees		(450)		(484)
Loans		123,317		122,867
Real Estate | Residential Mortgage
LOANS AND LEASES
Loans and leases, gross		1,873,405		1,875,200
Net deferred fees		643		780
Loans		1,874,048		1,875,980
Loans in the process of foreclosure		1,000		700
Real Estate | Home Equity
LOANS AND LEASES
Loans and leases, gross		674,625		635,721
Net deferred fees		1,701		1,528
Loans		676,326		637,249
Real Estate | Commercial Mortgage
LOANS AND LEASES
Loans and leases, gross		1,245,423		1,222,138
Net deferred fees		(1,924)		(1,934)
Loans		1,243,499		1,220,204
Commercial, financial and agricultural
LOANS AND LEASES
Number of TDRs included in nonperforming assets | contract			1
Recorded Investment (as of Period End)			$ 560
Amount of TDRs still accruing interest			$ 0
Commercial, financial and agricultural | Small Business Administration Paycheck Protection Program
LOANS AND LEASES
Loans and leases, gross		45,938		94,850
Net deferred fees		(1,707)		(3,523)
Loans		44,231		91,327
Commercial, financial and agricultural | Other
LOANS AND LEASES
Loans and leases, gross		544,732		530,383
Net deferred fees		(316)		(262)
Loans		544,416		530,121
Special Mention
LOANS AND LEASES
Loans and leases, gross		31,614		31,686
Special Mention | Consumer | Consumer
LOANS AND LEASES
Loans and leases, gross		163		181
Special Mention | Real Estate | Construction
LOANS AND LEASES
Loans and leases, gross		0		0
Special Mention | Real Estate | Residential Mortgage
LOANS AND LEASES
Loans and leases, gross		0		973
Special Mention | Real Estate | Home Equity
LOANS AND LEASES
Loans and leases, gross		183		187
Special Mention | Real Estate | Commercial Mortgage
LOANS AND LEASES
Loans and leases, gross		17,585		16,062
Special Mention | Commercial, financial and agricultural | Small Business Administration Paycheck Protection Program
LOANS AND LEASES
Loans and leases, gross		0		0
Special Mention | Commercial, financial and agricultural | Other
LOANS AND LEASES
Loans and leases, gross		13,683		14,283
Substandard
LOANS AND LEASES
Loans and leases, gross		47,216		44,160
Substandard | Consumer | Consumer
LOANS AND LEASES
Loans and leases, gross		860		510
Substandard | Real Estate | Construction
LOANS AND LEASES
Loans and leases, gross		911		918
Substandard | Real Estate | Residential Mortgage
LOANS AND LEASES
Loans and leases, gross		4,881		4,623
Substandard | Real Estate | Home Equity
LOANS AND LEASES
Loans and leases, gross		820		830
Substandard | Real Estate | Commercial Mortgage
LOANS AND LEASES
Loans and leases, gross		28,040		26,002
Substandard | Commercial, financial and agricultural | Small Business Administration Paycheck Protection Program
LOANS AND LEASES
Loans and leases, gross		0		0
Substandard | Commercial, financial and agricultural | Other
LOANS AND LEASES
Loans and leases, gross		11,704		11,277
Loss
LOANS AND LEASES
Loans and leases, gross		180		153
Loss | Consumer | Consumer
LOANS AND LEASES
Loans and leases, gross		180		153
Loss | Real Estate | Construction
LOANS AND LEASES
Loans and leases, gross		0		0
Loss | Real Estate | Residential Mortgage
LOANS AND LEASES
Loans and leases, gross		0		0
Loss | Real Estate | Home Equity
LOANS AND LEASES
Loans and leases, gross		0		0
Loss | Real Estate | Commercial Mortgage
LOANS AND LEASES
Loans and leases, gross		0		0
Loss | Commercial, financial and agricultural | Small Business Administration Paycheck Protection Program
LOANS AND LEASES
Loans and leases, gross		0		0
Loss | Commercial, financial and agricultural | Other
LOANS AND LEASES
Loans and leases, gross		0		0
Pass
LOANS AND LEASES
Loans and leases, gross		5,098,074		5,029,759
Pass | Consumer | Consumer
LOANS AND LEASES
Loans and leases, gross		667,991		623,271
Pass | Real Estate | Construction
LOANS AND LEASES
Loans and leases, gross		122,856		122,433
Pass | Real Estate | Residential Mortgage
LOANS AND LEASES
Loans and leases, gross		1,868,524		1,869,604
Pass | Real Estate | Home Equity
LOANS AND LEASES
Loans and leases, gross		673,622		634,704
Pass | Real Estate | Commercial Mortgage
LOANS AND LEASES
Loans and leases, gross		1,199,798		1,180,074
Pass | Commercial, financial and agricultural | Small Business Administration Paycheck Protection Program
LOANS AND LEASES
Loans and leases, gross		45,938		94,850
Pass | Commercial, financial and agricultural | Other
LOANS AND LEASES
Loans and leases, gross		$ 519,345		$ 504,823

LOANS AND CREDIT QUALITY (Purch

LOANS AND CREDIT QUALITY (Purchases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Outstanding balance	$ 82,166	$ 35,524
(Discount) premium	(2,453)	535
Purchase price	79,713	36,059
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Outstanding balance	48,142	22,534
(Discount) premium	(4,367)	(131)
Purchase price	43,775	22,403
U.S. Mainland Consumer - Automobile
Loans and Leases Receivable Disclosure [Line Items]
Outstanding balance	34,024	12,990
(Discount) premium	1,914	666
Purchase price	$ 35,938	$ 13,656

LOANS AND CREDIT QUALITY (Colla

LOANS AND CREDIT QUALITY (Collateral-Dependent Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	$ 7,485	$ 9,177
Allocated ACL	0	0
Secured by 1-4 Family Residential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	7,485	9,177
Secured by Nonfarm Nonresidential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0	0
Secured by Real Estate and Business Assets
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0	0
Real Estate | Residential Mortgage
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	6,665	8,391
Allocated ACL	0	0
Real Estate | Residential Mortgage | Secured by 1-4 Family Residential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	6,665	8,391
Real Estate | Residential Mortgage | Secured by Nonfarm Nonresidential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0	0
Real Estate | Residential Mortgage | Secured by Real Estate and Business Assets
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0	0
Real Estate | Home Equity
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	820	786
Allocated ACL	0	0
Real Estate | Home Equity | Secured by 1-4 Family Residential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	820	786
Real Estate | Home Equity | Secured by Nonfarm Nonresidential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0	0
Real Estate | Home Equity | Secured by Real Estate and Business Assets
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	$ 0	$ 0

LOANS AND CREDIT QUALITY (Impai

LOANS AND CREDIT QUALITY (Impaired Loans) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)propertyloan	Mar. 31, 2021loan	Dec. 31, 2021USD ($)
Interest income recognized on impaired loans
Mortgage loans foreclosure, number | loan	0	0
Mortgage loans foreclosure, number sold | property	0
Residential Mortgage | Real Estate
Interest income recognized on impaired loans
Loans in the process of foreclosure | $	$ 1		$ 0.7

LOANS AND LEASES (Aging of Reco

LOANS AND LEASES (Aging of Recorded Investment) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	$ 5,174,837	$ 5,101,649
Nonaccrual Loans	5,336	5,881
Total Past Due and Nonaccrual	23,684	18,161
Loans	5,174,837	5,101,649
Nonaccrual Loans with No ACL	4,624	5,409
Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	11,470	9,601
Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	5,554	1,316
Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,324	1,363
Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	5,151,153	5,083,488
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	44,231	91,327
Nonaccrual Loans	0	0
Total Past Due and Nonaccrual	0	0
Loans	44,231	91,327
Nonaccrual Loans with No ACL	0	0
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	44,231	91,327
Commercial, financial and agricultural: | Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	544,416	530,121
Nonaccrual Loans	293	183
Total Past Due and Nonaccrual	1,918	2,702
Loans	544,416	530,121
Nonaccrual Loans with No ACL	0	0
Commercial, financial and agricultural: | Other | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	710	970
Commercial, financial and agricultural: | Other | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	323	604
Commercial, financial and agricultural: | Other | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	592	945
Commercial, financial and agricultural: | Other | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	542,498	527,419
Real Estate | Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	123,317	122,867
Nonaccrual Loans	0	0
Total Past Due and Nonaccrual	0	638
Loans	123,317	122,867
Nonaccrual Loans with No ACL	0	0
Real Estate | Construction | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	638
Real Estate | Construction | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Construction | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Construction | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	123,317	122,229
Real Estate | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,874,048	1,875,980
Nonaccrual Loans	3,804	4,623
Total Past Due and Nonaccrual	15,965	9,938
Nonaccrual Loans with No ACL	3,804	4,623
Real Estate | Real estate, Mortgage - residential | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	7,512	5,315
Real Estate | Real estate, Mortgage - residential | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	4,538	0
Real Estate | Real estate, Mortgage - residential | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	111	0
Real Estate | Real estate, Mortgage - residential | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,858,083	1,866,042
Real Estate | Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	676,326	637,249
Nonaccrual Loans	820	786
Total Past Due and Nonaccrual	1,093	1,064
Loans	676,326	637,249
Nonaccrual Loans with No ACL	820	786
Real Estate | Home Equity | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	135	234
Real Estate | Home Equity | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	138	0
Real Estate | Home Equity | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	44
Real Estate | Home Equity | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	675,233	636,185
Real Estate | Commercial mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,243,499	1,220,204
Nonaccrual Loans	0	0
Total Past Due and Nonaccrual	0	0
Nonaccrual Loans with No ACL	0	0
Real Estate | Commercial mortgage | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Commercial mortgage | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Commercial mortgage | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Commercial mortgage | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,243,499	1,220,204
Consumer | Consumer Loan
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	669,000	623,901
Nonaccrual Loans	419	289
Total Past Due and Nonaccrual	4,708	3,819
Nonaccrual Loans with No ACL	0	0
Consumer | Consumer Loan | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	3,113	2,444
Consumer | Consumer Loan | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	555	712
Consumer | Consumer Loan | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	621	374
Consumer | Consumer Loan | Financial Asset, Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	$ 664,292	$ 620,082

LOANS AND CREDIT QUALITY (Modif

LOANS AND CREDIT QUALITY (Modifications) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)loan	Dec. 31, 2021USD ($)loan	Mar. 31, 2021USD ($)contractloan
Information related to loans modified in a TDR
Number of loan modifications | loan		600,000
Number of loans were modified as a TDR within the previous twelve months that subsequently defaulted | loan	0		0
Accruing Loans Greater  Than 90 Days Past Due
Information related to loans modified in a TDR
Amount of TDRs still accruing interest	$ 100
Commercial, financial and agricultural
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | contract			1
Recorded Investment (as of Period End)			$ 560
Amount of TDRs still accruing interest			$ 0
Consumer
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | contract			1
Recorded Investment (as of Period End)			$ 560
Amount of TDRs still accruing interest			$ 0
Nonperforming Financial Instruments
Information related to loans modified in a TDR
Amount of TDRs still accruing interest	$ 3,900	$ 4,900
Nonperforming Financial Instruments | Resi Mortgage | HAWAII
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	5
Recorded Investment (as of Period End)	$ 1,100

LOANS AND CREDIT QUALITY (Class

LOANS AND CREDIT QUALITY (Class and Credit Indicator) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Recorded investment in the loans and leases, by class and credit indicator
2022	$ 250,608	$ 1,477,594
2021	1,432,948	818,102
2020	778,821	496,532
2019	465,836	348,831
2018	325,755	317,010
Prior	1,180,671	921,711
Amortized Cost of Revolving Loans	740,198	721,869
Total	5,174,837	5,101,649
Loans and leases, gross	5,177,084	5,105,758
Net deferred fees	(2,247)	(4,109)
Loans	5,174,837	5,101,649
Pass
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	5,098,074	5,029,759
Special Mention
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	31,614	31,686
Substandard
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	47,216	44,160
Loss
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	180	153
Small Business Administration Paycheck Protection Program | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
2022	0	84,254
2021	41,446	7,073
2020	2,785	0
2019	0	0
2018	0	0
Prior	0	0
Amortized Cost of Revolving Loans	0	0
Total	44,231	91,327
Loans and leases, gross	45,938	94,850
Net deferred fees	(1,707)	(3,523)
Loans	44,231	91,327
Small Business Administration Paycheck Protection Program | Pass | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
2022	0	84,254
2021	41,446	7,073
2020	2,785	0
2019	0	0
2018	0	0
Prior	0	0
Amortized Cost of Revolving Loans	0	0
Total	44,231	91,327
Loans and leases, gross	45,938	94,850
Small Business Administration Paycheck Protection Program | Special Mention | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Small Business Administration Paycheck Protection Program | Substandard | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Small Business Administration Paycheck Protection Program | Loss | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Other | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
2022	24,055	124,170
2021	117,038	70,281
2020	64,775	59,367
2019	55,938	53,153
2018	51,118	47,111
Prior	151,718	96,158
Amortized Cost of Revolving Loans	79,774	79,881
Total	544,416	530,121
Loans and leases, gross	544,732	530,383
Net deferred fees	(316)	(262)
Loans	544,416	530,121
Other | Pass | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
2022	22,335	122,729
2021	116,423	68,021
2020	62,923	56,531
2019	53,061	52,375
2018	50,404	31,817
Prior	135,034	93,957
Amortized Cost of Revolving Loans	78,849	79,131
Total	519,029	504,561
Loans and leases, gross	519,345	504,823
Other | Special Mention | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
2022	1,720	1,441
2021	615	1,278
2020	260	2,443
2019	2,557	96
2018	97	8,671
Prior	8,259	354
Amortized Cost of Revolving Loans	175	0
Total	13,683	14,283
Loans and leases, gross	13,683	14,283
Other | Substandard | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	982
2020	1,592	393
2019	320	682
2018	617	6,623
Prior	8,425	1,847
Amortized Cost of Revolving Loans	750	750
Total	11,704	11,277
Loans and leases, gross	11,704	11,277
Other | Loss | Commercial, financial and agricultural:
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Construction | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	1,386	35,236
2021	40,722	25,430
2020	28,751	3,196
2019	3,165	29,251
2018	27,283	288
Prior	20,169	20,090
Amortized Cost of Revolving Loans	1,841	9,376
Total	123,317	122,867
Loans and leases, gross	123,767	123,351
Net deferred fees	(450)	(484)
Loans	123,317	122,867
Construction | Pass | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	1,386	35,236
2021	40,722	25,430
2020	28,751	3,196
2019	3,165	28,333
2018	26,372	288
Prior	20,169	20,090
Amortized Cost of Revolving Loans	1,841	9,376
Total	122,406	121,949
Loans and leases, gross	122,856	122,433
Construction | Special Mention | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Construction | Substandard | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	0
2020	0	0
2019	0	918
2018	911	0
Prior	0	0
Amortized Cost of Revolving Loans	0	0
Total	911	918
Loans and leases, gross	911	918
Construction | Loss | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Residential Mortgage | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	75,178	670,011
2021	664,439	479,864
2020	462,336	180,687
2019	169,718	76,397
2018	70,625	93,275
Prior	431,752	375,704
Amortized Cost of Revolving Loans	0	42
Total	1,874,048	1,875,980
Loans and leases, gross	1,873,405	1,875,200
Net deferred fees	643	780
Loans	1,874,048	1,875,980
Residential Mortgage | Pass | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	75,178	670,011
2021	664,439	478,891
2020	461,369	180,687
2019	169,718	75,820
2018	70,625	92,394
Prior	427,838	372,539
Amortized Cost of Revolving Loans	0	42
Total	1,869,167	1,870,384
Loans and leases, gross	1,868,524	1,869,604
Residential Mortgage | Special Mention | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022		0
2021		973
2020		0
2019		0
2018		0
Prior		0
Amortized Cost of Revolving Loans		0
Total		973
Loans and leases, gross	0	973
Residential Mortgage | Substandard | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	0
2020	967	0
2019	0	577
2018	0	881
Prior	3,914	3,165
Amortized Cost of Revolving Loans	0	0
Total	4,881	4,623
Loans and leases, gross	4,881	4,623
Residential Mortgage | Loss | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Home Equity | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	17,421	26,479
2021	25,375	13,184
2020	12,504	10,329
2019	8,607	10,672
2018	9,309	480
Prior	10,164	8,318
Amortized Cost of Revolving Loans	592,946	567,787
Total	676,326	637,249
Loans and leases, gross	674,625	635,721
Net deferred fees	1,701	1,528
Loans	676,326	637,249
Home Equity | Pass | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	17,421	26,479
2021	25,375	13,008
2020	12,329	10,329
2019	8,607	10,593
2018	9,230	480
Prior	9,598	7,743
Amortized Cost of Revolving Loans	592,763	567,600
Total	675,323	636,232
Loans and leases, gross	673,622	634,704
Home Equity | Special Mention | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Amortized Cost of Revolving Loans	183	187
Total	183	187
Loans and leases, gross	183	187
Home Equity | Substandard | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	176
2020	175	0
2019	0	79
2018	79	0
Prior	566	575
Amortized Cost of Revolving Loans	0	0
Total	820	830
Loans and leases, gross	820	830
Home Equity | Loss | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Commercial Mortgage | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	58,265	229,108
2021	228,342	126,169
2020	122,565	151,450
2019	149,760	137,283
2018	132,273	155,108
Prior	543,111	411,614
Amortized Cost of Revolving Loans	9,183	9,472
Total	1,243,499	1,220,204
Loans and leases, gross	1,245,423	1,222,138
Net deferred fees	(1,924)	(1,934)
Loans	1,243,499	1,220,204
Commercial Mortgage | Pass | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	58,265	229,108
2021	227,168	126,169
2020	122,565	146,584
2019	142,287	126,014
2018	121,026	153,041
Prior	517,380	387,751
Amortized Cost of Revolving Loans	9,183	9,472
Total	1,197,874	1,178,139
Loans and leases, gross	1,199,798	1,180,074
Commercial Mortgage | Special Mention | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	1,174	0
2020	0	3,106
2019	5,736	3,219
2018	1,020	283
Prior	9,655	9,455
Amortized Cost of Revolving Loans	0	0
Total	17,585	16,063
Loans and leases, gross	17,585	16,062
Commercial Mortgage | Substandard | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	0
2020	0	1,760
2019	1,737	8,050
2018	10,227	1,784
Prior	16,076	14,408
Amortized Cost of Revolving Loans	0	0
Total	28,040	26,002
Loans and leases, gross	28,040	26,002
Commercial Mortgage | Loss | Real Estate
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Consumer | Consumer
Recorded investment in the loans and leases, by class and credit indicator
2022	74,303	308,336
2021	315,586	96,101
2020	85,105	91,503
2019	78,648	42,075
2018	35,147	20,748
Prior	23,757	9,827
Amortized Cost of Revolving Loans	56,454	55,311
Total	669,000	623,901
Loans and leases, gross	669,194	624,115
Net deferred fees	(194)	(214)
Loans	669,000	623,901
Consumer | Pass | Consumer
Recorded investment in the loans and leases, by class and credit indicator
2022	74,303	308,326
2021	315,526	96,066
2020	85,061	91,194
2019	78,307	41,995
2018	35,064	20,719
Prior	23,082	9,446
Amortized Cost of Revolving Loans	56,454	55,311
Total	667,797	623,057
Loans and leases, gross	667,991	623,271
Consumer | Special Mention | Consumer
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	0
2020	0	181
2019	163	0
2018	0	10
Prior	0	7
Amortized Cost of Revolving Loans	0	0
Total	163	198
Loans and leases, gross	163	181
Consumer | Substandard | Consumer
Recorded investment in the loans and leases, by class and credit indicator
2022	0	10
2021	60	35
2020	44	128
2019	178	80
2018	83	19
Prior	495	221
Amortized Cost of Revolving Loans	0	0
Total	860	493
Loans and leases, gross	860	510
Consumer | Loss | Consumer
Recorded investment in the loans and leases, by class and credit indicator
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	180	153
Amortized Cost of Revolving Loans	0	0
Total	180	153
Loans and leases, gross	$ 180	$ 153

ALLOWANCE FOR CREDIT LOSSES A_3

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in the allowance
Beginning balance	$ 68,097	$ 83,269
(Credit) provision for credit losses	(3,195)	(821)
Subtotal	65,166	82,295
Charge-offs	1,470	1,707
Recoveries	1,058	965
Net charge-offs (recoveries)	412	742
Ending balance	64,754	81,553
(Credit) provision for credit losses on loans	(2,931)	(974)
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Off-balance sheet, credit loss, liability, beginning balance		4,884
(Credit) provision for off-balance sheet credit exposures	(300)	153
Off-balance sheet, credit loss, liability, ending balance	4,540	5,037
Commercial, financial and agricultural:
Changes in the allowance
Beginning balance	77	304
Subtotal	36	489
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	36	489
(Credit) provision for credit losses on loans	(41)	185
Other
Changes in the allowance
Beginning balance	10,314	18,717
Subtotal	9,466	15,984
Charge-offs	254	609
Recoveries	350	89
Net charge-offs (recoveries)	(96)	520
Ending balance	9,562	15,464
(Credit) provision for credit losses on loans	(848)	(2,733)
Construction | Real Estate
Changes in the allowance
Beginning balance	3,908	4,277
Subtotal	3,836	5,047
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	3,836	5,047
(Credit) provision for credit losses on loans	(72)	770
Residential Mortgage | Real Estate
Changes in the allowance
Beginning balance	12,463	16,484
Subtotal	10,931	15,251
Charge-offs	0	0
Recoveries	112	106
Net charge-offs (recoveries)	(112)	(106)
Ending balance	11,043	15,357
(Credit) provision for credit losses on loans	(1,532)	(1,233)
Home Equity | Real Estate
Changes in the allowance
Beginning balance	4,509	5,449
Subtotal	4,641	5,242
Charge-offs	0	0
Recoveries	0	9
Net charge-offs (recoveries)	0	(9)
Ending balance	4,641	5,251
(Credit) provision for credit losses on loans	132	(207)
Commercial Mortgage | Real Estate
Changes in the allowance
Beginning balance	18,411	22,163
Subtotal	16,055	22,726
Charge-offs	0	0
Recoveries	0	8
Net charge-offs (recoveries)	0	(8)
Ending balance	16,055	22,734
(Credit) provision for credit losses on loans	(2,356)	563
Consumer | Consumer
Changes in the allowance
Beginning balance	18,415	15,875
Subtotal	20,201	17,556
Charge-offs	1,216	1,098
Recoveries	596	753
Net charge-offs (recoveries)	620	345
Ending balance	19,581	17,211
(Credit) provision for credit losses on loans	1,786	$ 1,681
Adjusted balance at beginning of period
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Off-balance sheet, credit loss, liability, beginning balance	4,804
(Credit) provision for off-balance sheet credit exposures	$ (264)

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Jun. 30, 2021
Other Commitments [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Investments in Low Income Housing Tax Credit Partnerships	$ 25,309		$ 25,916
Investments in common securities of statutory trusts	1,547		1,547
Investments in affiliates	187		162
Other	4,049		2,054
Investment in unconsolidated subsidiaries	31,092		29,679
Equity Method Investments	200		200
Amortization expense in pretax income	607	$ 407
Income tax credits and adjustments	709	$ 474
2022 (remainder)	7,724
2021	8,128
2022	26
2023	6
2024	6
2025	6
Thereafter	32
Total unfunded commitments	15,928
Fund Commitments
Other Commitments [Line Items]
Funded commitments, LIHTC	30,300		30,300
Unfunded Commitments
Other Commitments [Line Items]
Funded commitments, LIHTC	14,300		14,300
Swell Financial, Inc.
Other Commitments [Line Items]
Equity Method Investments	2,000
JAM FINTOP Banktech Fund, L.P.
Other Commitments [Line Items]
Equity Method Investments				$ 2,000
LIHTC partnerships
Other Commitments [Line Items]
2022 (remainder)	6,071
2021	8,128
2022	26
2023	6
2024	6
2025	6
Thereafter	32
Total unfunded commitments	14,275
Other partnerships
Other Commitments [Line Items]
2022 (remainder)	1,653
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	0
Total unfunded commitments	$ 1,653		$ 1,700

MORTGAGE SERVICING RIGHTS (Deta

MORTGAGE SERVICING RIGHTS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
OTHER INTANGIBLE ASSETS
Income generated as a result of new mortgage servicing rights reported as gains on sale of loans	$ 769	$ 2,439
Mortgage Servicing Rights
OTHER INTANGIBLE ASSETS
Income generated as a result of new mortgage servicing rights reported as gains on sale of loans	300	500
Changes in other intangible assets
Balance, beginning of period	9,738	11,865
Additions	276	461
Amortization	(534)	(1,232)
Balance, end of period	9,480	11,094
Fair market value and key assumptions used in determining the fair market value
Fair market value, beginning of period	10,504	12,003
Fair market value, end of period	11,166	11,673
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value	72,526		$ 72,250
Accumulated Amortization	(63,046)		(62,512)
Other intangible assets	9,480	11,094	9,738
Estimated Amortization Expense
2022 (remainder)	1,671
2021	1,837
2022	1,506
2023	1,231
2024	1,026
2025	852
Thereafter	1,357
Other intangible assets	$ 9,480	$ 11,094	$ 9,738
Measurement Input, Discount Rate | Mortgage Servicing Rights
Fair market value and key assumptions used in determining the fair market value
Weighted average prepayment speed assumption	0.095	0.096
Measurement Input, Constant Prepayment Rate | Mortgage Servicing Rights
Fair market value and key assumptions used in determining the fair market value
Weighted average prepayment speed assumption	0.183	0.175

DERIVATIVES (Additional Informa

DERIVATIVES (Additional Information) (Details) $ in Millions	Mar. 31, 2022USD ($)
Interest rate lock commitments | Derivatives Not Designated as Hedging Instruments
DERIVATIVES
Mortgage loans hedged	$ 0.9
Forward sale commitments | Derivatives Not Designated as Hedging Instruments
DERIVATIVES
Mortgage loans hedged	5.7
Back-to-back swap agreements | Derivatives Not Designated as Hedging Instruments
DERIVATIVES
Notional amount	32.9
Cash pledged as collateral	1.7
Interest Rate Swap | Designated as Hedging Instrument
DERIVATIVES
Notional amount	$ 115.5
Fixed interest rate	2.095%

DERIVATIVES (Balance Sheet) (De

DERIVATIVES (Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives Not Designated as Hedging Instruments | Interest rate lock and forward sale commitments
Asset Derivatives
Fair Value	$ 149	$ 5
Liability Derivatives
Fair Value	5	4
Derivatives Not Designated as Hedging Instruments | Risk participation agreements
Asset Derivatives
Fair Value	0	0
Liability Derivatives
Fair Value	0	16
Derivatives Not Designated as Hedging Instruments | Back-to-back swap agreements
Asset Derivatives
Fair Value	1,624	435
Liability Derivatives
Fair Value	1,624	435
Designated as Hedging Instrument | Interest Rate Swap
Asset Derivatives
Fair Value	0	0
Liability Derivatives
Fair Value	$ 50	$ 0

DERIVATIVES (Income Statement)

DERIVATIVES (Income Statement) (Details) - Derivatives Not Designated as Hedging Instruments - Derivatives Not in Cash Flow Hedging Relationship - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Mortgage banking income | Interest rate lock and forward sale commitments
DERIVATIVES
Unrealized gain (loss) on interest rate locks	$ 143	$ 180
Other service charges and fees | Risk participation agreements
DERIVATIVES
Unrealized gain (loss) on interest rate locks	16	0
Other service charges and fees | Back-to-back swap agreements
DERIVATIVES
Unrealized gain (loss) on interest rate locks	0	31
Other income | Loans held for sale
DERIVATIVES
Unrealized gain (loss) on interest rate locks	$ (63)	$ (1)

SHORT-TERM BORROWINGS AND LON_3

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Narrative (Details)	1 Months Ended		3 Months Ended
	Dec. 31, 2004USD ($)	Sep. 30, 2004USD ($)	Mar. 31, 2022USD ($)period	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Long term borrowings			$ 105,677,000	$ 105,616,000
Federal Home Loan Bank Borrowings
Debt Instrument [Line Items]
Line of Credit, maximum borrowing capacity			1,920,000,000	1,830,000,000
Unused borrowings available			1,890,000,000	1,800,000,000
Letters of Credit, outstanding			32,200,000	32,200,000
Commercial real estate and commercial loans pledged as collateral			2,810,000,000
Federal Reserve discount window line of credit
Debt Instrument [Line Items]
Unused borrowings available			84,300,000	55,400,000
Commercial real estate and commercial loans pledged as collateral			$ 129,100,000	$ 131,000,000
C P B Capital Trust I V [Member]
Debt Instrument [Line Items]
Trust preferred securities issued value		$ 30,000,000
Trust preferred securities, variable rate basis		three-month LIBOR
Trust preferred securities, basis spread on variable rate		2.45%
Common securities issued		$ 900,000
C P B Capital Trust V [Member]
Debt Instrument [Line Items]
Trust preferred securities issued value	$ 20,000,000
Trust preferred securities, variable rate basis	three-month LIBOR
Trust preferred securities, basis spread on variable rate	1.87%
Common securities issued	$ 600,000
Subordinated Debt [Member]
Debt Instrument [Line Items]
Number of periods interest can be deferred | period			20
Subordinated Debt [Member] | C P B Capital Trust I V [Member]
Debt Instrument [Line Items]
Long term borrowings			$ 30,900,000
Subordinated Debt [Member] | C P B Capital Trust V [Member]
Debt Instrument [Line Items]
Long term borrowings			$ 20,600,000
Maximum | Subordinated Debt [Member]
Debt Instrument [Line Items]
Redemption period			90 days

SHORT-TERM BORROWINGS AND LON_4

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Subordinated Debentures (Details) - Junior Subordinated Debt - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Subordinated Debentures	$ 51,547	$ 51,547
Trust IV
Debt Instrument [Line Items]
Subordinated Debentures	30,928	30,928
Trust V
Debt Instrument [Line Items]
Subordinated Debentures	$ 20,619	$ 20,619

SHORT-TERM BORROWINGS AND LON_5

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Subordinated Notes (Details) - USD ($)	Oct. 20, 2020	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt		$ 105,677,000	$ 105,616,000
Subordinated notes | Notes
Debt Instrument [Line Items]
Subordinated notes		$ 55,000,000	$ 55,000,000
Stated interest rate, first five years	4.75%	0.0475%
Debt face amount	$ 55,000,000
Debt instrument, term	10 years
Long-term debt		$ 54,100,000
Unamortized debt issuance costs		$ 900,000
Subordinated notes | Notes | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.56%

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from External Customer [Line Items]
In-scope other operating income	$ 7,113	$ 6,725
Out-of-scope other operating income	2,438	3,986
Total other operating income	9,551	10,711
Loan placement fees
Revenue from External Customer [Line Items]
In-scope other operating income	235	838
Service charges on deposit accounts
Revenue from External Customer [Line Items]
In-scope other operating income	1,861	1,478
Other service charges and fees
Revenue from External Customer [Line Items]
In-scope other operating income	3,863	3,178
Income from fiduciary activities
Revenue from External Customer [Line Items]
In-scope other operating income	$ 1,154	$ 1,231

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - Restricted Stock Awards and Units $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Activity of nonvested shares
Nonvested restricted stock awards and units, beginning of period (in shares) | shares	485,339
Changes during the period:
Granted (in shares) | shares	95,155
Vested (in shares) | shares	(89,304)
Forfeited (in shares) | shares	(39,749)
Nonvested restricted stock awards and units, end of period (in shares) | shares	451,441
Weighted Average Grant Date Fair Value
Nonvested restricted stock awards and units, beginning of period (in dollars per share) | $ / shares	$ 21.95
Changes during the period:
Granted (in dollars per share) | $ / shares	29.38
Vested (in dollars per share) | $ / shares	24.61
Forfeited (in dollars per share) | $ / shares	28
Nonvested restricted stock awards and units, end of period (in dollars per share) | $ / shares	$ 22.46
Fair Value of Restricted Stock Awards and Units That Vested During the Period, Vested | $	$ 2,652

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating Lease, Cost	$ 1,390	$ 1,571
Variable Lease, Cost	830	720
Sublease Income	(12)	0
Lease, Cost	2,208	2,291
Cash flows from operating leases	$ (1,506)	$ (1,599)
Operating Lease, Weighted Average Remaining Lease Term	11 years 5 months 26 days	11 years 9 months 10 days
Operating Lease, Weighted Average Discount Rate, Percent	3.92%	3.89%

LEASES - Lessee, Operating Leas

LEASES - Lessee, Operating Lease Maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Undiscounted Cash Flows
2022 (remainder)	$ 4,420
2021	5,183
2022	4,508
2023	4,195
2024	4,133
2025	4,123
Thereafter	23,253
Total	49,815
Lease Liability Expense
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due Remainder Of The Year	1,113
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due Year Two	1,343
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due Year Three	1,214
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due Year Four	1,088
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due Year Five	968
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due Year Six	843
Lessee, Operating Lease, Liability, Undiscounted Excess Amount, Due After Year Six	3,636
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	10,205
Lease Liability Reduction
Lessee, Operating Lease, Lease Liability Reduction, Due Remainder Of The Year	3,307
Lessee, Operating Lease, Lease Liability Reduction, Year Two	3,840
Lessee, Operating Lease, Lease Liability Reduction, Year Three	3,294
Lessee, Operating Lease, Lease Liability Reduction, Year Four	3,107
Lessee, Operating Lease, Lease Liability Reduction, Year Five	3,165
Lessee, Operating Lease, Lease Liability Reduction, Year Six	3,280
Lessee, Operating Lease, Lease Liability Reduction, After Year Six	19,617
Lessee, Operating Lease, Lease Liability Reduction	$ 39,610

LEASES - Rental Income (Details

LEASES - Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Total rental income recognized	$ 951	$ 520

LEASES - Lessor, Operating Leas

LEASES - Lessor, Operating Lease Maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Leases [Abstract]
2022 (remainder)	$ 1,532
2021	923
2022	521
2023	304
2024	171
2025	131
Thereafter	304
Total	$ 3,886

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Before Tax
Other comprehensive income (loss), before tax	$ (108,361)	$ (23,368)
Tax Effect
Other comprehensive income, tax	(28,974)	(6,251)
Net of Tax
Total other comprehensive loss, net of tax	(79,387)	(17,117)
Net unrealized gains on investment securities
Before Tax
Other comprehensive income (loss) before reclassification, before tax	(108,448)	(23,619)
Other comprehensive income (loss), before tax	(108,448)	(23,619)
Tax Effect
Other comprehensive income (loss) before reclassifications, tax	(28,998)	(6,318)
Other comprehensive income, tax	(28,998)	(6,318)
Net of Tax
Other comprehensive income (loss), before reclassifications, net of tax	(79,450)	(17,301)
Total other comprehensive loss, net of tax	(79,450)	(17,301)
Net unrealized losses on derivatives:
Before Tax
Other comprehensive income (loss) before reclassification, before tax	(50)
Other comprehensive income (loss), before tax	(50)
Tax Effect
Other comprehensive income (loss) before reclassifications, tax	(13)
Other comprehensive income, tax	(13)
Net of Tax
Other comprehensive income (loss), before reclassifications, net of tax	(37)
Total other comprehensive loss, net of tax	(37)
Amortization of net actuarial loss
Before Tax
Reclassification from AOCI, before tax	133	246
Tax Effect
Reclassification from AOCI, tax	36	66
Net of Tax
Reclassification from AOCI, net of tax	97	180
Amortization of net transition obligation
Before Tax
Reclassification from AOCI, before tax	4	5
Tax Effect
Reclassification from AOCI, tax	1	1
Net of Tax
Reclassification from AOCI, net of tax	3	4
Defined benefit plans, net
Before Tax
Other comprehensive income (loss), before tax	(137)	(251)
Tax Effect
Other comprehensive income, tax	(37)	(67)
Net of Tax
Other comprehensive income (loss), before reclassifications, net of tax	0	0
Reclassification from AOCI, net of tax	100	184
Total other comprehensive loss, net of tax	$ 100	$ 184

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in each component of AOCI, net of tax
Balance at beginning of period	$ 558,219
Total other comprehensive loss, net of tax	(79,387)	$ (17,117)
Balance at end of period	486,328
Investment Securities
Changes in each component of AOCI, net of tax
Balance at beginning of period	(3,666)	26,651
Other comprehensive income (loss) before reclassifications	(79,450)	(17,301)
Reclassification adjustments from AOCI	0	0
Total other comprehensive loss, net of tax	(79,450)	(17,301)
Balance at end of period	(83,116)	9,350
Derivatives
Changes in each component of AOCI, net of tax
Balance at beginning of period	0	0
Other comprehensive income (loss) before reclassifications	(37)	0
Reclassification adjustments from AOCI	0	0
Total other comprehensive loss, net of tax	(37)	0
Balance at end of period	(37)	0
Defined Benefit Plans
Changes in each component of AOCI, net of tax
Balance at beginning of period	(4,294)	(6,523)
Other comprehensive income (loss) before reclassifications	0	0
Reclassification adjustments from AOCI	100	184
Total other comprehensive loss, net of tax	100	184
Balance at end of period	(4,194)	(6,339)
Accum. Other Comp. Loss
Changes in each component of AOCI, net of tax
Balance at beginning of period	(7,960)	20,128
Other comprehensive income (loss) before reclassifications	(79,487)	(17,301)
Reclassification adjustments from AOCI	100	184
Total other comprehensive loss, net of tax	(79,387)	(17,117)
Balance at end of period	$ (87,347)	$ 3,011

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassified out of AOCI) (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Amounts reclassified out of each component of accumulated other comprehensive income
Income tax (expenses) benefit	$ (6,038)	$ (5,452)
Total reclassification adjustments from AOCI for the period, net of tax	19,438	18,038
Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total reclassification adjustments from AOCI for the period, net of tax	(100)	(184)
Investment Securities
Amounts reclassified out of each component of accumulated other comprehensive income
Reclassification from AOCI, net of tax	0	0
Defined Benefit Plans
Amounts reclassified out of each component of accumulated other comprehensive income
Reclassification from AOCI, net of tax	(100)	(184)
Defined Benefit Plans | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of defined benefit plan items, before tax	(137)	(251)
Amortization of defined benefit plan items, tax	37	67
Reclassification from AOCI, net of tax	(100)	(184)
Amortization of net actuarial loss
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of defined benefit plan items, before tax	(133)	(246)
Amortization of defined benefit plan items, tax	36	66
Reclassification from AOCI, net of tax	(97)	(180)
Amortization of net actuarial loss | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of defined benefit plan items, before tax	(133)	(246)
Amortization of net transition obligation
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of defined benefit plan items, before tax	(4)	(5)
Amortization of defined benefit plan items, tax	1	1
Reclassification from AOCI, net of tax	(3)	(4)
Amortization of net transition obligation | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of defined benefit plan items, before tax	$ (4)	$ (5)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
SHARE-BASED COMPENSATION
Net income	$ 19,438	$ 18,038
Weighted average shares outstanding - basic	27,591,390	28,108,648
Weighted average shares outstanding - diluted	27,874,924	28,313,014
Basic earnings per common share (in dollars per share)	$ 0.70	$ 0.64
Diluted earnings per common share (in dollars per share)	$ 0.70	$ 0.64
Stock Option
SHARE-BASED COMPENSATION
Dilutive effect of share-based compensation arrangements	283,534	204,366

FAIR VALUE OF FINANCIAL ASSET_3

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Loans, weighted average discount rate, percent	6.44%
Time deposits, weighted average discount rate, percent	1.24%
Long-term debt, weighted average interest rate	6.64%
Financial assets
Cash and due from banks	$ 83,947,000	$ 81,506,000
Interest-bearing deposits in other banks	118,183,000	247,401,000
Loans held for sale	4,677,000	3,531,000
Accrued interest receivable	16,423,000	16,709,000
Deposits:
Noninterest-bearing deposits	2,269,562,000	2,291,246,000
Time deposits	698,538,000	706,732,000
Transfers of financial assets (liability) out of Level 3	0
Interest rate lock commitments
Deposits:
Notional amount	899,000
Forward sale commitments
Deposits:
Notional amount	5,669,000	3,525,000
Risk participation agreements
Deposits:
Notional amount	37,426,000	37,531,000
Assets
Deposits:
Notional amount	32,919,000	33,112,000
Liabilities
Deposits:
Notional amount	32,919,000	33,112,000
Derivative liabilities		(435,000)
Interest Rate Swap
Deposits:
Notional amount	115,545,000
Commitments to extend credit
Deposits:
Off-balance sheet financial instruments, Notional Amount	1,308,724,000	1,266,596,000
Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments, Notional Amount	6,058,000	6,634,000
Carrying Amount
Financial assets
Cash and due from banks	83,947,000	81,506,000
Interest-bearing deposits in other banks	118,183,000	247,401,000
Investment securities	1,528,989,000	1,631,699,000
Loans held for sale	4,677,000	3,531,000
Net loans and leases	5,110,083,000	5,033,552,000
Accrued interest receivable	16,423,000	16,709,000
Deposits:
Noninterest-bearing deposits	2,269,562,000	2,291,246,000
Interest-bearing demand and savings deposits	3,630,931,000	3,641,180,000
Time deposits	698,538,000	706,732,000
Long-term debt	105,677,000	105,616,000
Interest Payable	1,807,000	1,122,000
Carrying Amount | Interest rate lock commitments
Deposits:
Derivative liabilities	(2,000)
Carrying Amount | Risk participation agreements
Deposits:
Assets, Fair Value Disclosure	0	16,000
Carrying Amount | Assets
Deposits:
Derivative liabilities	(1,624,000)	(435,000)
Carrying Amount | Liabilities
Deposits:
Derivative liabilities	(1,624,000)
Carrying Amount | Interest Rate Swap
Deposits:
Derivative liabilities	(50,000)
Carrying Amount | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	0	0
Carrying Amount | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	0	0
Estimated Fair Value
Financial assets
Cash and due from banks	83,947,000	81,506,000
Interest-bearing deposits in other banks	118,183,000	247,401,000
Investment securities	1,528,985,000	1,631,699,000
Loans held for sale	4,677,000	3,531,000
Net loans and leases	4,688,605,000	4,741,379,000
Accrued interest receivable	16,423,000	16,709,000
Deposits:
Noninterest-bearing deposits	2,269,562,000	2,291,246,000
Interest-bearing demand and savings deposits	3,630,931,000	3,641,180,000
Time deposits	692,253,000	704,645,000
Long-term debt	91,117,000	94,588,000
Interest Payable	1,807,000	1,122,000
Estimated Fair Value | Interest rate lock commitments
Deposits:
Derivative liabilities	(2,000)
Estimated Fair Value | Risk participation agreements
Deposits:
Assets, Fair Value Disclosure	0	16,000
Estimated Fair Value | Assets
Deposits:
Derivative liabilities	(1,624,000)	(435,000)
Estimated Fair Value | Liabilities
Deposits:
Derivative liabilities	(1,624,000)
Estimated Fair Value | Interest Rate Swap
Deposits:
Derivative liabilities	(50,000)
Estimated Fair Value | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	1,402,000	1,347,000
Estimated Fair Value | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	91,000	100,000
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets
Cash and due from banks	83,947,000	81,506,000
Interest-bearing deposits in other banks	118,183,000	247,401,000
Investment securities	0	0
Loans held for sale	0	0
Net loans and leases	0	0
Accrued interest receivable	16,423,000	16,709,000
Deposits:
Noninterest-bearing deposits	2,269,562,000	2,291,246,000
Interest-bearing demand and savings deposits	3,630,931,000	3,641,180,000
Time deposits	0	0
Long-term debt	0	0
Interest Payable	1,807,000	1,122,000
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate lock commitments
Deposits:
Derivative liabilities	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Risk participation agreements
Deposits:
Assets, Fair Value Disclosure	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Assets
Deposits:
Derivative liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Liabilities
Deposits:
Derivative liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Swap
Deposits:
Derivative liabilities	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	0	0
Significant Other Observable Inputs (Level 2)
Financial assets
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Investment securities	1,520,904,000	1,623,080,000
Loans held for sale	4,677,000	3,531,000
Net loans and leases	0	0
Accrued interest receivable	0	0
Deposits:
Noninterest-bearing deposits	0	0
Interest-bearing demand and savings deposits	0	0
Time deposits	0	0
Long-term debt	0	0
Interest Payable	0	0
Significant Other Observable Inputs (Level 2) | Interest rate lock commitments
Deposits:
Derivative liabilities	(2,000)
Significant Other Observable Inputs (Level 2) | Risk participation agreements
Deposits:
Assets, Fair Value Disclosure	0	0
Significant Other Observable Inputs (Level 2) | Assets
Deposits:
Derivative liabilities	0	0
Significant Other Observable Inputs (Level 2) | Liabilities
Deposits:
Derivative liabilities	0	0
Significant Other Observable Inputs (Level 2) | Interest Rate Swap
Deposits:
Derivative liabilities	0
Significant Other Observable Inputs (Level 2) | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	1,402,000	1,347,000
Significant Other Observable Inputs (Level 2) | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	91,000	100,000
Significant Unobservable Inputs (Level 3)
Financial assets
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Investment securities	8,081,000	8,619,000
Loans held for sale	0	0
Net loans and leases	4,688,605,000	4,741,379,000
Accrued interest receivable	0	0
Deposits:
Noninterest-bearing deposits	0	0
Interest-bearing demand and savings deposits	0	0
Time deposits	692,253,000	704,645,000
Long-term debt	91,117,000	94,588,000
Interest Payable	0	0
Significant Unobservable Inputs (Level 3) | Interest rate lock commitments
Deposits:
Derivative liabilities	0
Significant Unobservable Inputs (Level 3) | Risk participation agreements
Deposits:
Assets, Fair Value Disclosure	0	16,000
Significant Unobservable Inputs (Level 3) | Assets
Deposits:
Derivative liabilities	(1,624,000)	(435,000)
Significant Unobservable Inputs (Level 3) | Liabilities
Deposits:
Derivative liabilities	(1,624,000)	(435,000)
Significant Unobservable Inputs (Level 3) | Interest Rate Swap
Deposits:
Derivative liabilities	(50,000)
Significant Unobservable Inputs (Level 3) | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	0	0
Significant Unobservable Inputs (Level 3) | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	0	0
Recurring basis | Carrying Amount | Forward sale commitments
Deposits:
Assets, Fair Value Disclosure	146,000	1,000
Recurring basis | Estimated Fair Value | Forward sale commitments
Deposits:
Assets, Fair Value Disclosure	146,000	1,000
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward sale commitments
Deposits:
Assets, Fair Value Disclosure	0	0
Recurring basis | Significant Other Observable Inputs (Level 2) | Forward sale commitments
Deposits:
Assets, Fair Value Disclosure	146,000	1,000
Recurring basis | Significant Unobservable Inputs (Level 3) | Forward sale commitments
Deposits:
Assets, Fair Value Disclosure	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_4

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets and liabilities measured at fair value
Held to maturity, fair value	$ 329,503	$ 0
Available-for-sale debt securities, at fair value	1,199,482	1,631,699
States and political subdivisions
Assets and liabilities measured at fair value
Held to maturity, fair value	41,729
Available-for-sale debt securities, at fair value	164,181	236,828
Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Held to maturity, fair value	287,774
Available-for-sale debt securities, at fair value	858,198	1,198,816
Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	33,054	40,646
U.S. Treasury obligations and direct obligations of U.S Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	32,171	35,334
Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	59,358	65,849
Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	10,908	12,213
Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	41,612	42,013
Recurring basis
Assets and liabilities measured at fair value
Held to maturity, fair value	329,503
Available-for-sale debt securities, at fair value	1,199,482	1,631,699
Total	1,529,079	1,631,684
Recurring basis | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives: Interest rate lock and forward sale commitments	94	(15)
Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Held to maturity, fair value	41,729
Available-for-sale debt securities, at fair value	164,181	236,828
Recurring basis | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Held to maturity, fair value	287,774
Available-for-sale debt securities, at fair value	858,198	1,198,816
Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	33,054	40,646
Recurring basis | U.S. Treasury obligations and direct obligations of U.S Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	32,171	35,334
Recurring basis | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	59,358	65,849
Recurring basis | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	10,908	12,213
Recurring basis | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	41,612	42,013
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets and liabilities measured at fair value
Held to maturity, fair value	0
Available-for-sale debt securities, at fair value	0	0
Total	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives: Interest rate lock and forward sale commitments	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | States and political subdivisions
Assets and liabilities measured at fair value
Held to maturity, fair value	0
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Held to maturity, fair value	0
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury obligations and direct obligations of U.S Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value
Held to maturity, fair value	329,503
Available-for-sale debt securities, at fair value	1,191,401	1,623,080
Total	1,521,048	1,623,081
Recurring basis | Significant Other Observable Inputs (Level 2) | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives: Interest rate lock and forward sale commitments	144	1
Recurring basis | Significant Other Observable Inputs (Level 2) | States and political subdivisions
Assets and liabilities measured at fair value
Held to maturity, fair value	41,729
Available-for-sale debt securities, at fair value	156,952	229,147
Recurring basis | Significant Other Observable Inputs (Level 2) | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Held to maturity, fair value	287,774
Available-for-sale debt securities, at fair value	858,198	1,198,816
Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	33,054	40,646
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. Treasury obligations and direct obligations of U.S Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	32,171	35,334
Recurring basis | Significant Other Observable Inputs (Level 2) | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	59,358	65,849
Recurring basis | Significant Other Observable Inputs (Level 2) | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	10,056	11,275
Recurring basis | Significant Other Observable Inputs (Level 2) | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	41,612	42,013
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets and liabilities measured at fair value
Held to maturity, fair value	0
Available-for-sale debt securities, at fair value	8,081	8,619
Total	8,031	8,603
Recurring basis | Significant Unobservable Inputs (Level 3) | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives: Interest rate lock and forward sale commitments	(50)	(16)
Recurring basis | Significant Unobservable Inputs (Level 3) | States and political subdivisions
Assets and liabilities measured at fair value
Held to maturity, fair value	0
Available-for-sale debt securities, at fair value	7,229	7,681
Recurring basis | Significant Unobservable Inputs (Level 3) | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Held to maturity, fair value	0
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. Treasury obligations and direct obligations of U.S Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	852	938
Recurring basis | Significant Unobservable Inputs (Level 3) | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_5

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Change in Level 3 Assets and Liabilities) (Details 3) - Mortgage revenue bonds $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)security	Mar. 31, 2021USD ($)	Dec. 31, 2021
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	$ 8,619	$ 12,326
Principal payments received	(60)	(1,978)
Unrealized net loss included in other comprehensive income	(478)	(752)
Aggregate fair value / Balance at the end of the period	8,081	9,596
States and political subdivisions
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	7,681	11,337
Principal payments received	(55)	(1,973)
Unrealized net loss included in other comprehensive income	(397)	(673)
Aggregate fair value / Balance at the end of the period	$ 7,229	8,691
Additional disclosures
Number of investment securities held | security	2
Residential - Non-government agencies
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	$ 938	989
Principal payments received	(5)	(5)
Unrealized net loss included in other comprehensive income	(81)	(79)
Aggregate fair value / Balance at the end of the period	$ 852	$ 905
Additional disclosures
Number of investment securities held | security	2
Measurement Input, Discount Rate | Weighted average
Additional disclosures
Weighted average prepayment speed assumption	0.0463		0.0346