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Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2019
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 December 31, 2019 and 2018, classified using the fair value hierarchy:
 At December 31, 2019
(Dollars in thousands)Level 1Level 2Level 3Assets/
Liabilities at
Fair Value
Assets:
Available-for-sale securities:
U.S. government corporations and agencies$—  $300  $—  $300  
State and political subdivisions—  34,595  —  34,595  
Residential mortgage-backed securities—  118,460  —  118,460  
Collateralized mortgage obligations—  2,361  —  2,361  
Corporate bonds—  91,208  —  91,208  
Total available-for-sale securities—  246,924  —  246,924  
Equity securities:
Equity securities - financial services industry1,004  —  —  1,004  
Money market mutual funds1,619  —  —  1,619  
Total equity securities2,623  —  —  2,623  
Loans*—  —  317  317  
Interest rate locks with customers*—  399  —  399  
Total assets$2,623  $247,323  $317  $250,263  
Liabilities:
Contingent consideration liability$—  $—  $160  $160  
Interest rate swaps*—  249  —  249  
Credit derivatives*—  —  176  176  
Forward loan sale commitments*—  19  —  19  
Total liabilities$—  $268  $336  $604  
 At December 31, 2018
(Dollars in thousands)Level 1Level 2Level 3Assets/
Liabilities at
Fair Value
Assets:
Available-for-sale securities:
U.S. government corporations and agencies$—  $15,315  $—  $15,315  
State and political subdivisions—  65,415  —  65,415  
Residential mortgage-backed securities—  151,762  —  151,762  
Collateralized mortgage obligations—  2,888  —  2,888  
Corporate bonds—  67,398  25,729  93,127  
Total available-for-sale securities—  302,778  25,729  328,507  
Equity securities:
Equity securities - financial services industry924  —  —  924  
Money market mutual funds1,241  —  —  1,241  
Total equity securities2,165  —  —  2,165  
Loans*—  —  1,779  1,779  
Interest rate swaps*—  189  —  189  
Interest rate locks with customers*—  490  —  490  
Total assets$2,165  $303,457  $27,508  $333,130  
Liabilities:
Contingent consideration liability$—  $—  $259  $259  
Interest rate swaps*—  20  —  20  
Credit derivatives*—  —  72  72  
Forward loan sale commitments*—  150  —  150  
Total liabilities$—  $170  $331  $501  
*Such financial instruments are recorded at fair value as further described in Note 17, "Derivative Instruments and Hedging Activities."
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table includes a rollforward of corporate bonds, loans and credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the years ended December 31, 2019 and 2018.
 For the Year Ended December 31, 2019
(Dollars in thousands)Balance at
December 31,
2018
Purchases/additionsSalesPayments receivedPremium amortization, net(Decrease) increase in valueTransfer from Level 3Balance at December 31, 2019
Corporate bonds$25,729  $—  $—  $—  $—  $675  $(26,404) $—  
Loans1,779  —  —  (1,461) —  (1) —  317  
Credit derivatives(72) (1,454) —  —  —  1,350  —  (176) 
Net total $27,436  $(1,454) $—  $(1,461) $—  $2,024  $(26,404) $141  

 For the Year Ended December 31, 2018
(Dollars in thousands)Balance at
December 31,
2017
Purchases/additionsSalesPayments receivedPremium amortization, net(Decrease) increase in valueTransfer from Level 3Balance at December 31, 2018
Corporate bonds$27,986  $—  $—  $—  $—  $(2,257) $—  $25,729  
Loans1,958  —  —  (148) —  (31) —  1,779  
Credit derivatives(36) (299) —  —  —  263  —  (72) 
Net total $29,908  $(299) $—  $(148) $—  $(2,025) $—  $27,436  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table includes a rollforward of corporate bonds, loans and credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the years ended December 31, 2019 and 2018.
 For the Year Ended December 31, 2019
(Dollars in thousands)Balance at
December 31,
2018
Purchases/additionsSalesPayments receivedPremium amortization, net(Decrease) increase in valueTransfer from Level 3Balance at December 31, 2019
Corporate bonds$25,729  $—  $—  $—  $—  $675  $(26,404) $—  
Loans1,779  —  —  (1,461) —  (1) —  317  
Credit derivatives(72) (1,454) —  —  —  1,350  —  (176) 
Net total $27,436  $(1,454) $—  $(1,461) $—  $2,024  $(26,404) $141  

 For the Year Ended December 31, 2018
(Dollars in thousands)Balance at
December 31,
2017
Purchases/additionsSalesPayments receivedPremium amortization, net(Decrease) increase in valueTransfer from Level 3Balance at December 31, 2018
Corporate bonds$27,986  $—  $—  $—  $—  $(2,257) $—  $25,729  
Loans1,958  —  —  (148) —  (31) —  1,779  
Credit derivatives(36) (299) —  —  —  263  —  (72) 
Net total $29,908  $(299) $—  $(148) $—  $(2,025) $—  $27,436  
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 years ended December 31, 2019 and 2018:
 For the Year Ended December 31, 2019
(Dollars in thousands)Balance at
December 31,
2018
Contingent
Consideration
from New
Acquisition
Payment of
Contingent
Consideration
Adjustment
of Contingent
Consideration
Balance at December 31, 2019
Girard Partners$259  —  129  30  $160  
Total contingent consideration liability$259  $—  $129  $30  $160  

 For the Year Ended December 31, 2018
(Dollars in thousands)Balance at
December 31,
2017
Contingent
Consideration
from New
Acquisition
Payment of
Contingent
Consideration
Adjustment
of Contingent
Consideration
Balance at December 31, 2018
Girard Partners$339  $—  $131  $51  $259  
Total contingent consideration liability$339  $—  $131  $51  $259  
Assets Measured at Fair Value on Non-Recurring Basis
The Corporation may be required to periodically measure certain assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or impairment charges of individual assets. The following table represents assets measured at fair value on a non-recurring basis at December 31, 2019 and 2018:
 At December 31, 2019
(Dollars in thousands)Level 1Level 2Level 3Assets at
Fair Value
Impaired loans held for investment$—  $—  $36,018  $36,018  
Impaired leases held for investment—  —  277  277  
Other real estate owned—  —  516  516  
Total$—  $—  $36,811  $36,811  

 At December 31, 2018
(Dollars in thousands)Level 1Level 2Level 3Assets at
Fair Value
Impaired loans held for investment$—  $—  $25,166  $25,166  
Other real estate owned—  —  1,187  1,187  
Total$—  $—  $26,353  $26,353  
Assets, Liabilities and Off-Balance Sheet Items Not Measured at Fair Value
The following table presents assets and liabilities and off-balance sheet items not measured at fair value on a recurring or non-recurring basis in the Corporation’s consolidated balance sheets but for which the fair value is required to be disclosed at December 31, 2019 and 2018. The disclosed fair values are classified using the fair value hierarchy.
 At December 31, 2019
(Dollars in thousands)Level 1Level 2Level 3Fair
Value
Carrying
Amount
Assets:
Cash and short-term interest-earning assets$125,128  $—  $—  $125,128  $125,128  
Held-to-maturity securities—  194,886  —  194,886  192,052  
Federal Home Loan Bank, Federal Reserve Bank and other stockN/A  N/A  N/A  N/A  28,254  
Loans held for sale—  5,560  —  5,560  5,504  
Net loans and leases held for investment—  —  4,309,208  4,309,208  4,314,893  
Servicing rights—  —  9,340  9,340  6,626  
Total assets$125,128  $200,446  $4,318,548  $4,644,122  $4,672,457  
Liabilities:
Deposits:
Demand and savings deposits, non-maturity$3,754,065  $—  $—  $3,754,065  $3,754,065  
Time deposits—  609,387  —  609,387  606,010  
Total deposits3,754,065  609,387  —  4,363,452  4,360,075  
Short-term borrowings—  18,680  —  18,680  18,680  
Long-term debt—  151,343  —  151,343  150,098  
Subordinated notes—  96,663  —  96,663  94,818  
Total liabilities$3,754,065  $876,073  $—  $4,630,138  $4,623,671  
Off-Balance-Sheet:
Commitments to extend credit$—  $(8,070) $—  $(8,070) $—  

 At December 31, 2018
(Dollars in thousands)Level 1Level 2Level 3Fair
Value
Carrying
Amount
Assets:
Cash and short-term interest-earning assets$109,420  $—  $—  $109,420  $109,420  
Held-to-maturity securities—  141,575  —  141,575  142,634  
Federal Home Loan Bank, Federal Reserve Bank and other stockN/A  N/A  N/A  N/A  28,337  
Loans held for sale—  1,798  —  1,798  1,754  
Net loans and leases held for investment—  —  3,924,329  3,924,329  3,950,265  
Servicing rights—  —  11,496  11,496  6,768  
Total assets$109,420  $143,373  $3,935,825  $4,188,618  $4,239,178  
Liabilities:
Deposits:
Demand and savings deposits, non-maturity$3,215,856  $—  $—  $3,215,856  $3,215,856  
Time deposits—  664,738  —  664,738  670,077  
Total deposits3,215,856  664,738  —  3,880,594  3,885,933  
Short-term borrowings—  189,768  —  189,768  189,768  
Long-term debt—  144,021  —  144,021  145,330  
Subordinated notes—  95,113  —  95,113  94,574  
Total liabilities$3,215,856  $1,093,640  $—  $4,309,496  $4,315,605  
Off-Balance-Sheet:
Commitments to extend credit$—  $(2,516) $—  $(2,516) $—