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Fair Value Disclosures (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the assets and liabilities measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024, classified using the fair value hierarchy:
| At June 30, 2025
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Assets/ Liabilities at Fair Value
Assets: |
Available-for-sale securities: |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | — |  |  | $ | 291,158 |  |  | $ | — |  |  | $ | 291,158 |
Collateralized mortgage obligations | — |  |  | 1,541 |  |  | — |  |  | 1,541 |
Corporate bonds | — |  |  | 73,722 |  |  | — |  |  | 73,722 |
Total available-for-sale securities | — |  |  | 366,421 |  |  | — |  |  | 366,421 |
Equity securities: |  |  |  |  |  |  |
Money market mutual funds | 1,801 |  |  | — |  |  | — |  |  | 1,801 |
Total equity securities | 1,801 |  |  | — |  |  | — |  |  | 1,801 |
Loans held for sale | — |  |  | 17,774 |  |  | — |  |  | 17,774 |
Interest rate locks with customers* | — |  |  | 359 |  |  | — |  |  | 359 |
Total assets | $ | 1,801 |  |  | $ | 384,554 |  |  | $ | — |  |  | $ | 386,355 |
Liabilities: |  |  |  |  |  |  |
Credit derivatives* | $ | — |  |  | $ | — |  |  | $ | 79 |  |  | $ | 79 |
Forward loan sale commitments* | — |  |  | 51 |  |  | — |  |  | 51 |
Total liabilities | $ | — |  |  | $ | 51 |  |  | $ | 79 |  |  | $ | 130 |
* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."
| At December 31, 2024
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Assets/ Liabilities at Fair Value
Assets: |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |
State and political subdivisions | $ | — |  |  | $ | 1,295 |  |  | $ | — |  |  | $ | 1,295 |
Residential mortgage-backed securities | — |  |  | 283,381 |  |  | — |  |  | 283,381 |
Collateralized mortgage obligations | — |  |  | 1,685 |  |  | — |  |  | 1,685 |
Corporate bonds | — |  |  | 71,000 |  |  | — |  |  | 71,000 |
Total available-for-sale securities | — |  |  | 357,361 |  |  | — |  |  | 357,361 |
Equity securities: |  |  |  |  |  |  |
Money market mutual funds | 2,506 |  |  | — |  |  | — |  |  | 2,506 |
Total equity securities | 2,506 |  |  | — |  |  | — |  |  | 2,506 |
Loans held for sale | — |  |  | 16,653 |  |  | — |  |  | 16,653 |
Interest rate locks with customers* | — |  |  | 214 |  |  | — |  |  | 214 |
Forward loan sale commitments* | — |  |  | 12 |  |  | — |  |  | 12 |
Total assets | $ | 2,506 |  |  | $ | 374,240 |  |  | $ | — |  |  | $ | 376,746 |
Liabilities: |  |  |  |  |  |  |
Contingent consideration liability | $ | — |  |  | $ | — |  |  | $ | 635 |  |  | $ | 635 |
Credit derivatives* | — |  |  | — |  |  | 67 |  |  | 67 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 702 |  |  | $ | 702 |
* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."
Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Level 3 Rollforward | The following table includes a roll forward of credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the six months ended June 30, 2025 and 2024:
| Six Months Ended June 30, 2025
(Dollars in thousands) | Balance at December 31, 2024 |  | Additions |  |  |  |  |  | Increase in value |  | Balance at June 30, 2025
Credit derivatives | $ | (67) |  |  | $ | (164) |  |  |  |  |  |  | $ | 152 |  |  | $ | (79) |
Net total | $ | (67) |  |  | $ | (164) |  |  |  |  |  |  | $ | 152 |  |  | $ | (79) |
| Six Months Ended June 30, 2024
(Dollars in thousands) | Balance at December 31, 2023 |  | Additions |  |  |  |  |  |  |  | Increase in value |  | Balance at June 30, 2024
Credit derivatives | $ | (186) |  |  | $ | (268) |  |  |  |  |  |  |  |  | $ | 338 |  |  | $ | (116) |
Net total | $ | (186) |  |  | $ | (268) |  |  |  |  |  |  |  |  | $ | 338 |  |  | $ | (116) |
Contingent Consideration Liability Change In Amount | The following table presents the change in the balance of the contingent consideration liability related to acquisitions for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the six months ended June 30, 2025 and 2024:
| Six Months Ended June 30, 2025
(Dollars in thousands) | Balance at December 31, 2024 |  |  |  | Payment of Contingent Consideration |  | Adjustment of Contingent Consideration |  | Balance at June 30, 2025
Paul I. Sheaffer Insurance Agency | $ | 635 |  |  |  |  | $ | 635 |  |  | $ | — |  |  | $ | — |
Total contingent consideration liability | $ | 635 |  |  |  |  | $ | 635 |  |  | $ | — |  |  | $ | — |
| Six Months Ended June 30, 2024
(Dollars in thousands) | Balance at December 31, 2023 |  |  |  | Payment of Contingent Consideration |  | Adjustment of Contingent Consideration |  | Balance at June 30, 2024
Paul I. Sheaffer Insurance Agency | $ | 1,224 |  |  |  |  | $ | 635 |  |  | $ | 25 |  |  | $ | 614 |
Total contingent consideration liability | $ | 1,224 |  |  |  |  | $ | 635 |  |  | $ | 25 |  |  | $ | 614 |
Assets Measured at Fair Value on Non-Recurring Basis | The following table represents assets measured at fair value on a non-recurring basis at June 30, 2025 and December 31, 2024:
| At June 30, 2025
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Assets at Fair Value
Individually analyzed loans held for investment | $ | — |  |  | $ | — |  |  | $ | 24,660 |  |  | $ | 24,660 |
Other real estate owned | — |  |  | — |  |  | 22,471 |  |  | 22,471 |
Repossessed assets | — |  |  | — |  |  | 80 |  |  | 80 |
Total | $ | — |  |  | $ | — |  |  | $ | 47,211 |  |  | $ | 47,211 |
| At December 31, 2024
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Assets at Fair Value
Individually analyzed loans held for investment | $ | — |  |  | $ | — |  |  | $ | 10,111 |  |  | $ | 10,111 |
Other real estate owned | — |  |  | — |  |  | 20,141 |  |  | 20,141 |
Repossessed assets | — |  |  | — |  |  | 76 |  |  | 76 |
Total | $ | — |  |  | $ | — |  |  | $ | 30,328 |  |  | $ | 30,328 |
Assets, Liabilities and Off-Balance Sheet Items Not Measured at Fair Value | The following table presents assets and liabilities not measured at fair value on a recurring or non-recurring basis in the Corporation’s condensed consolidated balance sheets but for which the fair value is required to be disclosed at June 30, 2025 and December 31, 2024. The disclosed fair values are classified using the fair value hierarchy.
| At June 30, 2025
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |  | Carrying Amount
Assets: |  |  |  |  |  |  |  |  |
Cash and short-term interest-earning assets | $ | 160,365 |  |  | $ | — |  |  | $ | — |  |  | $ | 160,365 |  |  | $ | 160,365 |
Held-to-maturity securities | — |  |  | 113,166 |  |  | — |  |  | 113,166 |  |  | 128,455 |
Federal Home Loan Bank, Federal Reserve Bank and other stock | NA |  | NA |  | NA |  | NA |  | 36,482 |
Net loans and leases held for investment | — |  |  | — |  |  | 6,627,734 |  |  | 6,627,734 |  |  | 6,689,536 |
Servicing rights | — |  |  | — |  |  | 11,424 |  |  | 11,424 |  |  | 6,909 |
Total assets | $ | 160,365 |  |  | $ | 113,166 |  |  | $ | 6,639,158 |  |  | $ | 6,912,689 |  |  | $ | 7,021,747 |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Demand and savings deposits, non-maturity | $ | 5,081,701 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,081,701 |  |  | $ | 5,081,701 |
Time deposits | — |  |  | 1,502,566 |  |  | — |  |  | 1,502,566 |  |  | 1,500,959 |
Total deposits | 5,081,701 |  |  | 1,502,566 |  |  | — |  |  | 6,584,267 |  |  | 6,582,660 |
Short-term borrowings | 6,271 |  |  | — |  |  | — |  |  | 6,271 |  |  | 6,271 |
Long-term debt | — |  |  | 201,508 |  |  | — |  |  | 201,508 |  |  | 200,000 |
Subordinated notes | — |  |  | 150,000 |  |  | — |  |  | 150,000 |  |  | 149,511 |
Total liabilities | $ | 5,087,972 |  |  | $ | 1,854,074 |  |  | $ | — |  |  | $ | 6,942,046 |  |  | $ | 6,938,442 |
| At December 31, 2024
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |  | Carrying Amount
Assets: |  |  |  |  |  |  |  |  |
Cash and short-term interest-earning assets | $ | 328,844 |  |  | $ | — |  |  | $ | — |  |  | $ | 328,844 |  |  | $ | 328,844 |
Held-to-maturity securities | — |  |  | 115,007 |  |  | — |  |  | 115,007 |  |  | 134,111 |
Federal Home Loan Bank, Federal Reserve Bank and other stock | NA |  | NA |  | NA |  | NA |  | 38,980 |
Net loans and leases held for investment | — |  |  | — |  |  | 6,586,054 |  |  | 6,586,054 |  |  | 6,729,381 |
Servicing rights | — |  |  | — |  |  | 12,710 |  |  | 12,710 |  |  | 6,990 |
Total assets | $ | 328,844 |  |  | $ | 115,007 |  |  | $ | 6,598,764 |  |  | $ | 7,042,615 |  |  | $ | 7,238,306 |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Demand and savings deposits, non-maturity | $ | 5,305,553 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,305,553 |  |  | $ | 5,305,553 |
Time deposits | — |  |  | 1,458,774 |  |  | — |  |  | 1,458,774 |  |  | 1,453,706 |
Total deposits | 5,305,553 |  |  | 1,458,774 |  |  | — |  |  | 6,764,327 |  |  | 6,759,259 |
Short-term borrowings | 11,181 |  |  | — |  |  | — |  |  | 11,181 |  |  | 11,181 |
Long-term debt | — |  |  | 225,475 |  |  | — |  |  | 225,475 |  |  | 225,000 |
Subordinated notes | — |  |  | 147,500 |  |  | — |  |  | 147,500 |  |  | 149,261 |
Total liabilities | $ | 5,316,734 |  |  | $ | 1,831,749 |  |  | $ | — |  |  | $ | 7,148,483 |  |  | $ | 7,144,701 |

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- 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/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- 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/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- 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/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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