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Fair Value Disclosures (Tables)

9 Months Ended

Sep. 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 September 30, 2025 and December 31, 2024, classified using the fair value hierarchy:

			At September 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			$	—					$	293,205					$	—					$	293,205
Collateralized mortgage obligations			—						1,449						—						1,449
Corporate bonds			—						73,739						—						73,739
Total available-for-sale securities			—						368,393						—						368,393
Equity securities:
Money market mutual funds			2,413						—						—						2,413
Total equity securities			2,413						—						—						2,413
Loans held for sale			—						6,330						—						6,330
Interest rate locks with customers*			—						304						—						304
Total assets			$	2,413					$	375,027					$	—					$	377,440
Liabilities:
Credit derivatives*			$	—					$	—					$	97					$	97
Forward loan sale commitments*			—						14						—						14
Total liabilities			$	—					$	14					$	97					$	111

* 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 nine months ended September 30, 2025 and 2024:

			Nine Months Ended September 30, 2025
(Dollars in thousands)			Balance at December 31, 2024						Additions																		Increase in value						Balance at September 30, 2025
Credit derivatives			$	(67)					$	(531)																	$	500					$	(98)
Net total			$	(67)					$	(531)																	$	500					$	(98)

			Nine Months Ended September 30, 2024
(Dollars in thousands)			Balance at December 31, 2023						Additions																								Increase in value						Balance at September 30, 2024
Credit derivatives			$	(186)					$	(297)																							$	360					$	(123)
Net total			$	(186)					$	(297)																							$	360					$	(123)

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 nine months ended September 30, 2025 and 2024:

			Nine Months Ended September 30, 2025
(Dollars in thousands)			Balance at December 31, 2024												Payment of Contingent Consideration						Adjustment of Contingent Consideration						Balance at September 30, 2025
Paul I. Sheaffer Insurance Agency			$	635											$	635					$	—					$	—
Total contingent consideration liability			$	635											$	635					$	—					$	—

			Nine Months Ended September 30, 2024
(Dollars in thousands)			Balance at December 31, 2023												Payment of Contingent Consideration						Adjustment of Contingent Consideration						Balance at September 30, 2024
Paul I. Sheaffer Insurance Agency			$	1,224											$	635					$	38					$	627
Total contingent consideration liability			$	1,224											$	635					$	38					$	627

Assets Measured at Fair Value on Non-Recurring Basis

The following table represents assets measured at fair value on a non-recurring basis at September 30, 2025 and December 31, 2024:

			At September 30, 2025
(Dollars in thousands)			Level 1						Level 2						Level 3						Assets at Fair Value
Individually analyzed loans held for investment			$	—					$	—					$	23,903					$	23,903
Other real estate owned			—						—						23,926						23,926
Repossessed assets			—						—						40						40
Total			$	—					$	—					$	47,869					$	47,869

			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 September 30, 2025 and December 31, 2024. The disclosed fair values are classified using the fair value hierarchy.

			At September 30, 2025
(Dollars in thousands)			Level 1						Level 2						Level 3						Fair Value						Carrying Amount
Assets:
Cash and short-term interest-earning assets			$	816,739					$	—					$	—					$	816,739					$	816,739
Held-to-maturity securities			—						111,904						—						111,904						126,040
Federal Home Loan Bank, Federal Reserve Bank and other stock			NA						NA						NA						NA						39,617
Net loans and leases held for investment			—						—						6,673,498						6,673,498						6,675,052
Servicing rights			—						—						10,474						10,474						6,585
Total assets			$	816,739					$	111,904					$	6,683,972					$	7,612,615					$	7,664,033
Liabilities:
Deposits:
Demand and savings deposits, non-maturity			$	5,760,210					$	—					$	—					$	5,760,210					$	5,760,210
Time deposits			—						1,460,762						—						1,460,762						1,457,933
Total deposits			5,760,210						1,460,762						—						7,220,972						7,218,143
Short-term borrowings			11,951						—						—						11,951						11,951
Long-term debt			—						201,129						—						201,129						200,000
Subordinated notes			—						130,500						—						130,500						129,597
Total liabilities			$	5,772,161					$	1,792,391					$	—					$	7,564,552					$	7,559,691

			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

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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.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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