FAIR VALUE MEASUREMENTS - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt securities:
Available for sale debt securities, at fair value	$ 593,427	$ 607,348
Held to maturity	2,891	2,874
Equity securities	10,506	10,340
Carrying Amount
Financial Assets:
Cash and cash equivalents	516,913	185,895
Debt securities:
Available for sale debt securities, at fair value	593,427	607,348
Held to maturity	3,080	3,108
Equity securities	10,506	10,340
Loans receivable, net	6,987,565	6,973,760
Accrued interest receivable	23,873	24,306
FHLB stock	46,007	32,694
Interest rate swaps	11,763	21,323
Financial liabilities:
Deposits	5,649,494	5,839,340
FHLB advances	1,701,647	1,208,147
Junior subordinated deferrable interest debentures	61,857	61,857
Senior debt	94,816	94,785
Accrued interest payable	7,430	3,964
Interest rate swaps	18,053	2,136
Fair Value
Financial Assets:
Cash and cash equivalents	516,913	185,895
Debt securities:
Available for sale debt securities, at fair value	593,427	607,348
Held to maturity	2,891	2,874
Equity securities	10,506	10,340
Loans receivable, net	6,662,388	6,743,783
Accrued interest receivable	23,873	24,306
Interest rate swaps	11,763	21,323
Financial liabilities:
Deposits	5,618,781	5,789,929
FHLB advances	1,670,831	1,153,511
Junior subordinated deferrable interest debentures	57,653	56,967
Senior debt	93,128	94,652
Accrued interest payable	7,430	3,964
Interest rate swaps	18,053	2,136
Fair Value \| Level 1
Financial Assets:
Cash and cash equivalents	516,913	185,895
Debt securities:
Available for sale debt securities, at fair value	0	0
Held to maturity	0	0
Equity securities	0	0
Loans receivable, net	0	0
Accrued interest receivable	580	58
Interest rate swaps	0	0
Financial liabilities:
Deposits	2,013,853	2,449,966
FHLB advances	0	0
Junior subordinated deferrable interest debentures	0	0
Senior debt	0	0
Accrued interest payable	0	0
Interest rate swaps	0	0
Fair Value \| Level 2
Financial Assets:
Cash and cash equivalents	0	0
Debt securities:
Available for sale debt securities, at fair value	593,427	607,348
Held to maturity	2,891	2,874
Equity securities	10,506	10,340
Loans receivable, net	0	0
Accrued interest receivable	2,027	4,171
Interest rate swaps	11,763	21,323
Financial liabilities:
Deposits	3,604,928	3,339,963
FHLB advances	1,670,831	1,153,511
Junior subordinated deferrable interest debentures	57,653	56,967
Senior debt	93,128	94,652
Accrued interest payable	7,430	3,964
Interest rate swaps	18,053	2,136
Fair Value \| Level 3
Financial Assets:
Cash and cash equivalents	0	0
Debt securities:
Available for sale debt securities, at fair value	0	0
Held to maturity	0	0
Equity securities	0	0
Loans receivable, net	6,662,388	6,743,783
Accrued interest receivable	21,266	20,077
Interest rate swaps	0	0
Financial liabilities:
Deposits	0	0
FHLB advances	0	0
Junior subordinated deferrable interest debentures	0	0
Senior debt	0	0
Accrued interest payable	0	0
Interest rate swaps	$ 0	$ 0

Luther Burbank Corp 10-Q