Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivatives by Balance Sheet Location

The following table presents the fair values of derivative instruments in the Corporation’s Consolidated Balance Sheets as of the dates indicated:

(Dollars in thousands)	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet Location	Mar 31, 2013		Dec 31, 2012		Balance Sheet Location	Mar 31, 2013		Dec 31, 2012
Derivatives Designated as Cash Flow Hedging Instruments:
Interest rate risk management contracts:
Interest rate swap contracts	Other assets		$—		$—	Other liabilities		$1,438		$1,619
Derivatives not Designated as Hedging Instruments:
Forward loan commitments:
Commitments to originate fixed-rate mortgage loans to be sold	Other assets	1,666		2,513		Other liabilities	71		—
Commitments to sell fixed-rate mortgage loans	Other assets	149		—		Other liabilities	2,369		4,191
Customer related derivative contracts:
Interest rate swaps with customers	Other assets	3,375		3,851		Other liabilities	—		—
Mirror swaps with counterparties	Other assets	—		—		Other liabilities	3,457		3,952
Total			$5,190		$6,364			$7,335		$9,762

Derivative Instruments Effect in Statements of Income and Changes in Shareholders' Equity

The following tables present the effect of derivative instruments in the Corporation’s Consolidated Statements of Income and Changes in Shareholders’ Equity for the periods indicated:

(Dollars in thousands)	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)		Location of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Gain (Loss) Recognized in Income (Ineffective Portion)
Periods ended March 31,	2013	2012		2013		2012
Derivatives in Cash Flow Hedging Relationships:
Interest rate risk management contracts:
Interest rate swap contracts	$120	$35	Interest Expense		$—	$—
Total	$120	$35			$—	$—

(Dollars in thousands)		Gain (Loss) Recognized in Income
Periods ended March 31,	Location of Gain (Loss) Recognized in Income	2013			2012
Derivatives not Designated as Hedging Instruments:
Forward loan commitments:
Commitments to originate fixed-rate mortgage loans to be sold	Net gains on loan sales & commissions on loans originated for others		($918	)		($49	)
Commitments to sell fixed-rate mortgage loans	Net gains on loan sales & commissions on loans originated for others	1,971			280
Customer related derivative contracts:
Interest rate swaps with customers	Net gains (losses) on interest rate swaps	(4		)	211
Mirror swaps with counterparties	Net gains (losses) on interest rate swaps	23			(183		)
Total			$1,072			$259