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Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value of Recurring Basis
The following table presents the assets and liabilities measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020, classified using the fair value hierarchy:
 At June 30, 2021
(Dollars in thousands)Level 1Level 2Level 3Assets/
Liabilities at
Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions$— $3,312 $— $3,312 
Residential mortgage-backed securities— 176,159 — 176,159 
Collateralized mortgage obligations— 4,130 — 4,130 
Corporate bonds— 81,561 9,700 91,261 
Total available-for-sale securities— 265,162 9,700 274,862 
Equity securities:
Equity securities - financial services industry956 — — 956 
Money market mutual funds1,916 — — 1,916 
Total equity securities2,872 — — 2,872 
Loans*— — 118 118 
Loans held for sale— 27,322 — 27,322 
Interest rate locks with customers*— 1,662 — 1,662 
Total assets$2,872 $294,146 $9,818 $306,836 
Liabilities:
Interest rate swaps*$— $383 $— $383 
Credit derivatives*— — 369 369 
Forward loan sale commitments*— 267 — 267 
Total liabilities$— $650 $369 $1,019 
* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $9.7 million of corporate bonds was comprised of one investment grade bond and the Corporation utilizes a third party to estimate fair value. The value is derived from a discounted cash flow analysis which utilizes a probability of default input. The $369 thousand of credit derivatives liability represents the Credit Valuation Adjustment (CVA), which is obtained from real-time financial market data, of 116 interest rate swaps with a current notional amount of $730.9 million. The June 30, 2021 CVA assumes a zero-deal recovery percentage based on the most recent index credit curve.
 At December 31, 2020
(Dollars in thousands)Level 1Level 2Level 3Assets/
Liabilities at
Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions$— $13,537 $— $13,537 
Residential mortgage-backed securities— 114,163 — 114,163 
Collateralized mortgage obligations— 5,321 — 5,321 
Corporate bonds— 76,019 9,600 85,619 
Total available-for-sale securities— 209,040 9,600 218,640 
Equity securities:
Equity securities - financial services industry818 — — 818 
Money market mutual funds2,461 — — 2,461 
Total equity securities3,279 — — 3,279 
Loans*— — 187 187 
Loans held for sale— 37,039 — 37,039 
Interest rate locks with customers*— 2,894 — 2,894 
Total assets$3,279 $248,973 $9,787 $262,039 
Liabilities:
Contingent consideration liability$— $— $55 $55 
Interest rate swaps*— 541 — 541 
Credit derivatives*— — 535 535 
Forward loan sale commitments*— 752 — 752 
Total liabilities$— $1,293 $590 $1,883 
* 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 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 six months ended June 30, 2021 and 2020:
 Six Months Ended June 30, 2021
(Dollars in thousands)Balance at
December 31,
2020		AdditionsPayments receivedIncrease (decrease) in valueBalance at June 30, 2021
Corporate bonds$9,600 $— $— $100 $9,700 
Loans187 — (65)(4)118 
Credit derivatives(535)(1,213)— 1,379 (369)
Net total $9,252 $(1,213)$(65)$1,475 $9,449 
 Six Months Ended June 30, 2020
(Dollars in thousands)Balance at
December 31,
2019		AdditionsPayments receivedIncrease (decrease) in valueBalance at June 30, 2020
Loans$317 $— $(60)$(2)$255 
Credit derivatives(176)(2,541)— 1,805 (912)
Net total$141 $(2,541)$(60)$1,803 $(657)
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, 2021 and 2020:
 Six Months Ended June 30, 2021
(Dollars in thousands)Balance at
December 31,
2020		Contingent
Consideration
from New
Acquisition		Payment of
Contingent
Consideration		Adjustment
of Contingent
Consideration		Balance at June 30, 2021
Girard Partners$55 $— $58 $3 $— 
Total contingent consideration liability$55 $— $58 $3 $— 
 Six Months Ended June 30, 2020
(Dollars in thousands)Balance at
December 31,
2019		Contingent
Consideration
from New
Acquisition		Payment of
Contingent
Consideration		Adjustment
of Contingent
Consideration		Balance at June 30, 2020
Girard Partners$160 $— $61 $10 $109 
Total contingent consideration liability$160 $— $61 $10 $109 
Assets Measured at Fair Value on Non-Recurring Basis
The Corporation may be required to periodically measure certain assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or changes in the value of loans held for investment analyzed on an individual basis. The following table represents assets measured at fair value on a non-recurring basis at June 30, 2021 and December 31, 2020:
 At June 30, 2021
(Dollars in thousands)Level 1Level 2Level 3Assets at
Fair Value
Individually analyzed loans held for investment$— $— $33,142 $33,142 
Other real estate owned— — 279 279 
Total$— $— $33,421 $33,421 
 At December 31, 2020
(Dollars in thousands)Level 1Level 2Level 3Assets at
Fair Value
Individually analyzed loans held for investment$— $— $30,900 $30,900 
Other real estate owned— — 7,355 7,355 
Total$— $— $38,255 $38,255 
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, 2021 and December 31, 2020. The disclosed fair values are classified using the fair value hierarchy.
 At June 30, 2021
(Dollars in thousands)Level 1Level 2Level 3Fair
Value		Carrying
Amount
Assets:
Cash and short-term interest-earning assets$203,449 $— $— $203,449 $203,449 
Held-to-maturity securities— 123,119 — 123,119 119,692 
Federal Home Loan Bank, Federal Reserve Bank and other stockNANANANA25,228 
Net loans and leases held for investment— — 5,317,505 5,317,505 5,226,485 
Servicing rights— — 9,793 9,793 7,433 
Total assets$203,449 $123,119 $5,327,298 $5,653,866 $5,582,287 
Liabilities:
Deposits:
Demand and savings deposits, non-maturity$4,826,481 $— $— $4,826,481 $4,826,481 
Time deposits— 500,436 — 500,436 492,223 
Total deposits4,826,481 500,436 — 5,326,917 5,318,704 
Short-term borrowings— 25,251 — 25,251 25,251 
Long-term debt— 96,976 — 96,976 95,000 
Subordinated notes— 106,500 — 106,500 98,719 
Total liabilities$4,826,481 $729,163 $— $5,555,644 $5,537,674 
 At December 31, 2020
(Dollars in thousands)Level 1Level 2Level 3Fair
Value		Carrying
Amount
Assets:
Cash and short-term interest-earning assets$219,858 $— $— $219,858 $219,858 
Held-to-maturity securities— 156,325 — 156,325 151,257 
Federal Home Loan Bank, Federal Reserve Bank and other stockNANANANA28,183 
Net loans and leases held for investment— — 5,338,782 5,338,782 5,192,710 
Servicing rights— — 6,783 6,783 6,408 
Total assets$219,858 $156,325 $5,345,565 $5,721,748 $5,598,416 
Liabilities:
Deposits:
Demand and savings deposits, non-maturity$4,678,940 $— $— $4,678,940 $4,678,940 
Time deposits— 574,018 — 574,018 563,775 
Total deposits4,678,940 574,018 — 5,252,958 5,242,715 
Short-term borrowings— 17,906 — 17,906 17,906 
Long-term debt— 112,968 — 112,968 110,000 
Subordinated notes— 190,045 — 190,045 183,515 
Total liabilities$4,678,940 $894,937 $— $5,573,877 $5,554,136