XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Fair Value Measurement (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2016
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present our assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at September 30, 2016 and December 31, 2015. There were no transfers between Level 1 and Level 2 for items measured at fair value on a recurring basis during the periods presented.
| September 30, 2016
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total
ASSETS |  |  |  |
Securities available-for-sale: |  |  |  |
U.S. Treasury securities | $ | — |  | $ | 15,056 |  | $ | — |  | $ | 15,056 |
Obligations of U.S. government corporations and agencies | — |  | 250,924 |  | — |  | 250,924 |
Collateralized mortgage obligations of U.S. government corporations and agencies | — |  | 137,460 |  | — |  | 137,460 |
Residential mortgage-backed securities of U.S. government corporations and agencies | — |  | 36,285 |  | — |  | 36,285 |
Commercial mortgage-backed securities of U.S. government corporations and agencies | — |  | 88,499 |  | — |  | 88,499 |
Obligations of states and political subdivisions | — |  | 132,536 |  | — |  | 132,536 |
Marketable equity securities | — |  | 10,368 |  | — |  | 10,368 |
Total securities available-for-sale | — |  | 671,128 |  | — |  | 671,128 |
Trading securities held in a Rabbi Trust | 4,312 |  | — |  | — |  | 4,312 |
Total securities | 4,312 |  | 671,128 |  | — |  | 675,440 |
Derivative financial assets: |  |  |  |
Interest rate swap contracts - commercial loans | — |  | 15,255 |  | — |  | 15,255 |
Interest rate lock commitments - mortgage loans | — |  | 739 |  | — |  | 739 |
Total Assets | $ | 4,312 |  | $ | 687,122 |  | $ | — |  | $ | 691,434 |
LIABILITIES |  |  |  |
Derivative financial liabilities: |  |  |  |
Interest rate swap contracts - commercial loans | $ | — |  | $ | 15,202 |  | $ | — |  | $ | 15,202 |
Forward sale contracts - mortgage loans | — |  | 98 |  | — |  | 98 |
Total Liabilities | $ | — |  | $ | 15,300 |  | $ | — |  | $ | 15,300 |
| December 31, 2015
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total
ASSETS |  |  |  |
Securities available-for-sale: |  |  |  |
U.S. Treasury securities | $ | — |  | $ | 14,941 |  | $ | — |  | $ | 14,941 |
Obligations of U.S. government corporations and agencies | — |  | 263,303 |  | — |  | 263,303 |
Collateralized mortgage obligations of U.S. government corporations and agencies | — |  | 128,835 |  | — |  | 128,835 |
Residential mortgage-backed securities of U.S. government corporations and agencies | — |  | 40,125 |  | — |  | 40,125 |
Commercial mortgage-backed securities of U.S. government corporations and agencies | — |  | 69,204 |  | — |  | 69,204 |
Obligations of states and political subdivisions | — |  | 134,886 |  | — |  | 134,886 |
Marketable equity securities | — |  | 9,669 |  | — |  | 9,669 |
Total securities available-for-sale | — |  | 660,963 |  | — |  | 660,963 |
Trading securities held in a Rabbi Trust | 4,021 |  | — |  | — |  | 4,021 |
Total securities | 4,021 |  | 660,963 |  | — |  | 664,984 |
Derivative financial assets: |  |  |  |
Interest rate swap contracts - commercial loans | — |  | 11,295 |  | — |  | 11,295 |
Interest rate lock commitments - mortgage loans | — |  | 261 |  | — |  | 261 |
Total Assets | $ | 4,021 |  | $ | 672,519 |  | $ | — |  | $ | 676,540 |
LIABILITIES |  |  |  |
Derivative financial liabilities: |  |  |  |
Interest rate swap contracts - commercial loans | $ | — |  | $ | 11,276 |  | $ | — |  | $ | 11,276 |
Forward sale contracts - mortgage loans | — |  | 5 |  | — |  | 5 |
Total Liabilities | $ | — |  | $ | 11,281 |  | $ | — |  | $ | 11,281 |
Assets Measured at Estimated Fair Value on Nonrecurring Basis by Fair Value Hierarchy | The following table presents our assets that are measured at fair value on a nonrecurring basis by the fair value hierarchy level as of the dates presented:
| September 30, 2016 |  | December 31, 2015
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total |  | Level 1 | Level 2 | Level 3 | Total
ASSETS(1) |  |  |  |  |  |  |  |  |
Impaired loans | — |  | — |  | 9,000 |  | 9,000 |  |  | — |  | — |  | 9,373 |  | 9,373 |
Other real estate owned | — |  | — |  | 181 |  | 181 |  |  | — |  | — |  | 158 |  | 158 |
Mortgage servicing rights | — |  | — |  | 3,253 |  | 3,253 |  |  | — |  | — |  | 3,396 |  | 3,396 |
Total Assets | $ | — |  | $ | — |  | $ | 12,434 |  | $ | 12,434 |  |  | $ | — |  | $ | — |  | $ | 12,927 |  | $ | 12,927 |
(1)This table presents only the nonrecurring items that are recorded at fair value in our financial statements.
Carrying Values and Fair Values of Financial Instruments | The carrying values and fair values of our financial instruments at September 30, 2016 and December 31, 2015 are presented in the following tables:
| Carrying Value(1) | Fair Value Measurements at September 30, 2016
(dollars in thousands) | Total | Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |
Cash and due from banks, including interest-bearing deposits | $ | 125,163 |  | $ | 125,163 |  | $ | 125,163 |  | $ | — |  | $ | — |
Securities available-for-sale | 671,128 |  | 671,128 |  | — |  | 671,128 |  | — |
Loans held for sale | 11,695 |  | 12,176 |  | — |  | — |  | 12,176 |
Portfolio loans, net of unearned income | 5,418,234 |  | 5,406,298 |  | — |  | — |  | 5,406,298 |
Bank owned life insurance | 71,523 |  | 71,523 |  | — |  | 71,523 |  | — |
FHLB and other restricted stock | 28,331 |  | 28,331 |  | — |  | — |  | 28,331 |
Trading securities held in a Rabbi Trust | 4,312 |  | 4,312 |  | 4,312 |  | — |  | — |
Mortgage servicing rights | 3,252 |  | 3,253 |  | — |  | — |  | 3,253 |
Interest rate swap contracts - commercial loans | 15,255 |  | 15,255 |  | — |  | 15,255 |  | — |
Interest rate lock commitments - mortgage loans | 739 |  | 739 |  | — |  | 739 |  | — |
LIABILITIES |  |  |  |  |
Deposits | $ | 5,145,431 |  | $ | 5,151,031 |  | $ | — |  | $ | — |  | $ | 5,151,031 |
Securities sold under repurchase agreements | 40,949 |  | 40,949 |  | — |  | — |  | 40,949 |
Short-term borrowings | 565,000 |  | 565,000 |  | — |  | — |  | 565,000 |
Long-term borrowings | 15,303 |  | 16,111 |  | — |  | — |  | 16,111 |
Junior subordinated debt securities | 45,619 |  | 45,619 |  | — |  | — |  | 45,619 |
Interest rate swap contracts - commercial loans | 15,202 |  | 15,202 |  | — |  | 15,202 |  | — |
Forward sale contracts - mortgage loans | 98 |  | 98 |  | — |  | 98 |  | — |
(1) As reported in the Consolidated Balance Sheets |  |  |  |  |
| Carrying Value(1) | Fair Value Measurements at December 31, 2015
(dollars in thousands) | Total | Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |
Cash and due from banks, including interest-bearing deposits | $ | 99,399 |  | $ | 99,399 |  | $ | 99,399 |  | $ | — |  | $ | — |
Securities available-for-sale | 660,963 |  | 660,963 |  | — |  | 660,963 |  | — |
Loans held for sale | 35,321 |  | 35,500 |  | — |  | — |  | 35,500 |
Portfolio loans, net of unearned income | 5,027,612 |  | 5,001,004 |  | — |  | — |  | 5,001,004 |
Bank owned life insurance | 70,175 |  | 70,175 |  | — |  | 70,175 |  | — |
FHLB and other restricted stock | 23,032 |  | 23,032 |  | — |  | — |  | 23,032 |
Trading securities held in a Rabbi Trust | 4,021 |  | 4,021 |  | 4,021 |  | — |  | — |
Mortgage servicing rights | 3,237 |  | 3,396 |  | — |  | — |  | 3,396 |
Interest rate swap contracts - commercial loans | 11,295 |  | 11,295 |  | — |  | 11,295 |  | — |
Interest rate lock commitments - mortgage loans | 261 |  | 261 |  | — |  | 261 |  | — |
LIABILITIES |  |  |  |  |
Deposits | $ | 4,876,611 |  | $ | 4,881,718 |  | $ | — |  | $ | — |  | $ | 4,881,718 |
Securities sold under repurchase agreements | 62,086 |  | 62,086 |  | — |  | — |  | 62,086 |
Short-term borrowings | 356,000 |  | 356,000 |  | — |  | — |  | 356,000 |
Long-term borrowings | 117,043 |  | 117,859 |  | — |  | — |  | 117,859 |
Junior subordinated debt securities | 45,619 |  | 45,619 |  | — |  | — |  | 45,619 |
Interest rate swap contracts - commercial loans | 11,276 |  | 11,276 |  | — |  | 11,276 |  | — |
Forward sale contracts - mortgage loans | 5 |  | 5 |  | — |  | 5 |  | — |
(1) As reported in the Consolidated Balance Sheets |  |  |  |  |

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration