10-Q

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 Form 10-Q

☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended March 31, 2022

or

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to __________

Commission File Number: 0-7617

 UNIVEST FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Pennsylvania	23-1886144
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

14 North Main Street, Souderton, Pennsylvania 18964

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (215) 721-2400

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of class	Trading symbol	Name of exchange on which registered
Common Stock, $5 par value	UVSP	The NASDAQ Stock Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Common Stock, $5 par value	29,593,105
(Title of Class)	(Number of shares outstanding at May 2, 2022)

Table of Contents

UNIVEST FINANCIAL CORPORATION AND SUBSIDIARIES

INDEX

 

			Page Number
Part I.	Financial Information:
	Item 1.	Financial Statements (Unaudited)
		Condensed Consolidated Balance Sheets at March 31, 2022 and December 31, 2021	2
		Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2022 and 2021	3
		Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2022 and 2021	4
		Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2022 and 2021	5
		Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2022 and 2021	6
		Notes to Condensed Consolidated Financial Statements	7
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	41
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	56
	Item 4.	Controls and Procedures	56
Part II.	Other Information
	Item 1.	Legal Proceedings	56
	Item 1A.	Risk Factors	56
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	57
	Item 3.	Defaults Upon Senior Securities	57
	Item 4.	Mine Safety Disclosures	57
	Item 5.	Other Information	57
	Item 6.	Exhibits	58
Signatures			59

1

Table of Contents

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

	(UNAUDITED)
(Dollars in thousands, except share data)	At March 31, 2022		At December 31, 2021
ASSETS
Cash and due from banks	$	57,307	$	49,202
Interest-earning deposits with other banks	716,474		840,948
Cash and cash equivalents	773,781		890,150
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	166,339		176,983
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	349,994		317,007
Investments in equity securities	2,569		2,999
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost	26,330		28,186
Loans held for sale	14,521		21,600
Loans and leases held for investment	5,400,786		5,310,017
Less: Allowance for credit losses, loans and leases	(68,286)		(71,924)
Net loans and leases held for investment	5,332,500		5,238,093
Premises and equipment, net	50,429		56,882
Operating lease right-of-use assets	30,498		30,407
Goodwill	175,510		175,510
Other intangibles, net of accumulated amortization	11,784		11,848
Bank owned life insurance	119,398		118,699
Accrued interest receivable and other assets	54,087		54,057
Total assets	$	7,107,740	$	7,122,421
LIABILITIES
Noninterest-bearing deposits	$	2,136,467	$	2,065,423
Interest-bearing deposits	3,911,465		3,989,701
Total deposits	6,047,932		6,055,124
Short-term borrowings	18,976		20,106
Long-term debt	95,000		95,000
Subordinated notes	98,952		98,874
Operating lease liabilities	33,566		33,453
Accrued interest payable and other liabilities	39,459		46,070
Total liabilities	6,333,885		6,348,627
SHAREHOLDERS’ EQUITY
Common stock, $5 par value: 48,000,000 shares authorized at March 31, 2022 and December 31, 2021; 31,556,799 shares issued at March 31, 2022 and December 31, 2021; 29,636,425 and 29,500,542 shares outstanding at March 31, 2022 and December 31, 2021, respectively	157,784		157,784
Additional paid-in capital	297,945		299,181
Retained earnings	389,332		375,124
Accumulated other comprehensive loss, net of tax benefit	(31,909)		(16,353)
Treasury stock, at cost; 1,920,374 and 2,056,257 shares at March 31, 2022 and December 31, 2021, respectively	(39,297)		(41,942)
Total shareholders’ equity	773,855		773,794
Total liabilities and shareholders’ equity	$	7,107,740	$	7,122,421

Note: See accompanying notes to the unaudited condensed consolidated financial statements.

2

Table of Contents

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended
	March 31,
(Dollars in thousands, except per share data)	2022		2021
Interest income
Interest and fees on loans and leases	$	48,106	$	49,663
Interest and dividends on investment securities:
Taxable	2,365		1,303
Exempt from federal income taxes	15		87
Interest on deposits with other banks	357		56
Interest and dividends on other earning assets	355		348
Total interest income	51,198		51,457
Interest expense
Interest on deposits	2,891		3,400
Interest on short-term borrowings	2		2
Interest on long-term debt and subordinated notes	1,645		2,641
Total interest expense	4,538		6,043
Net interest income	46,660		45,414
Reversal of provision for credit losses	(3,450)		(11,283)
Net interest income after provision for credit losses	50,110		56,697
Noninterest income
Trust fee income	2,102		2,034
Service charges on deposit accounts	1,504		1,282
Investment advisory commission and fee income	5,152		4,697
Insurance commission and fee income	5,570		4,955
Other service fee income	2,756		2,192
Bank owned life insurance income	699		717
Net gain on sales of investment securities	30		65
Net gain on mortgage banking activities	1,929		5,938
Other income	728		1,370
Total noninterest income	20,470		23,250
Noninterest expense
Salaries, benefits and commissions	28,245		24,780
Net occupancy	2,716		2,739
Equipment	982		946
Data processing	3,567		3,050
Professional fees	2,138		1,748
Marketing and advertising	425		280
Deposit insurance premiums	893		636
Intangible expenses	341		249
Other expense	6,105		5,112
Total noninterest expense	45,412		39,540
Income before income taxes	25,168		40,407
Income tax expense	4,851		7,804
Net income	$	20,317	$	32,603
Net income per share:
Basic	$	0.69	$	1.11
Diluted	0.68		1.11

Note: See accompanying notes to the unaudited condensed consolidated financial statements.

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Table of Contents

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended March 31,
(Dollars in thousands)	2022						2021
	Before Tax Amount		Tax Expense (Benefit)		Net of Tax Amount		Before Tax Amount		Tax Expense (Benefit)		Net of Tax Amount
Income	$	25,168	$	4,851	$	20,317	$	40,407	$	7,804	$	32,603
Other comprehensive income:
Net unrealized (losses) gains on available-for-sale investment securities:
Net unrealized holding (losses) gains arising during the period	(20,369)		(4,278)		(16,091)		2,194		461		1,733
Provision (reversal of provision) for credit losses	346		73		273		(384)		(81)		(303)
Less: reclassification adjustment for net gains on sales realized in net income (1)	(30)		(6)		(24)		(65)		(14)		(51)
Total net unrealized (losses) gains on available-for-sale investment securities	(20,053)		(4,211)		(15,842)		1,745		366		1,379
Net unrealized gains on interest rate swaps used in cash flow hedges:
Net unrealized holding gains arising during the period	76		16		60		6		1		5
Less: reclassification adjustment for net losses realized in net income (2)	68		14		54		76		16		60
Total net unrealized gains on interest rate swaps used in cash flow hedges	144		30		114		82		17		65
Defined benefit pension plans:
Amortization of net actuarial loss included in net periodic pension costs (3)	218		46		172		329		69		260
Total defined benefit pension plans	218		46		172		329		69		260
Other comprehensive (loss) income	(19,691)		(4,135)		(15,556)		2,156		452		1,704
Total comprehensive income	$	5,477	$	716	$	4,761	$	42,563	$	8,256	$	34,307

(1) Included in net gain on sales of investment securities on the condensed consolidated statements of income (before tax amount).

(2) Included in interest expense on demand deposits on the condensed consolidated statements of income (before tax amount).

(3) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (before tax amount). See Note 8, "Retirement Plans and Other Postretirement Benefits" for additional details.

Note: See accompanying notes to the unaudited condensed consolidated financial statements.

4

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands, except per share data)	Common Shares Outstanding	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Treasury Stock		Total
Three Months Ended March 31, 2022
Balance at December 31, 2021	29,500,542	$	157,784	$	299,181	$	375,124	$	(16,353)	$	(41,942)	$	773,794
Net income	—	—		—		20,317		—		—		20,317
Other comprehensive loss, net of income tax benefit	—	—		—		—		(15,556)		—		(15,556)
Cash dividends declared ($0.20 per share)	—	—		—		(5,905)		—		—		(5,905)
Stock-based compensation	—	—		1,073		(204)		—		—		869
Stock issued under dividend reinvestment and employee stock purchase plans	21,843	—		59		—		—		564		623
Vesting of restricted stock units	88,259	—		(2,418)		—		—		1,555		(863)
Exercise of stock options	25,781	—		50		—		—		526		576
Balance at March 31, 2022	29,636,425	$	157,784	$	297,945	$	389,332	$	(31,909)	$	(39,297)	$	773,855

(Dollars in thousands, except per share data)	Common Shares Outstanding	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive (Loss) Income		Treasury Stock		Total
Three Months Ended March 31, 2021
Balance at December 31, 2020	29,295,052	$	157,784	$	296,186	$	306,899	$	(22,144)	$	(46,253)	$	692,472
Net income	—	—		—		32,603		—		—		32,603
Other comprehensive income, net of income tax	—	—		—		—		1,704		—		1,704
Cash dividends declared ($0.20 per share)	—	—		—		(5,864)		—		—		(5,864)
Stock-based compensation	—	—		878		(56)		—		—		822
Stock issued under dividend reinvestment and employee stock purchase plans	23,311	—		65		(1)		—		545		609
Vesting of restricted stock units, net of shares withheld to cover income taxes	42,619	—		(1,126)		—		—		771		(355)
Exercise of stock options	36,286	—		17		—		—		742		759
Cancellations of performance-based restricted stock awards	(7,199)	—		157		—		—		(157)		—
Purchases of treasury stock	(10,494)	—		—		—		—		(295)		(295)
Balance at March 31, 2021	29,379,575	$	157,784	$	296,177	$	333,581	$	(20,440)	$	(44,647)	$	722,455

Note: See accompanying note to the unaudited condensed consolidated financial statements.

5

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Cash flows from operating activities:
Net income	$	20,317	$	32,603
Adjustments to reconcile net income to net cash provided by operating activities:
Reversal of provision for credit losses	(3,450)		(11,283)
Depreciation of premises and equipment	1,101		1,173
Net amortization of investment securities premiums and discounts	472		768
Net gain on sales of investment securities	(30)		(65)
Net gain on mortgage banking activities	(1,929)		(5,938)
Bank owned life insurance income	(699)		(717)
Stock-based compensation	934		874
Intangible expenses	341		249
Other adjustments to reconcile net income to cash used in operating activities	(910)		(2,036)
Originations of loans held for sale	(73,541)		(142,877)
Proceeds from the sale of loans held for sale	82,616		163,052
Contributions to pension and other postretirement benefit plans	(63)		(66)
Decrease (increase) in accrued interest receivable and other assets	4,316		(5,488)
Decrease in accrued interest payable and other liabilities	(5,535)		(376)
Net cash provided by operating activities	23,940		29,873
Cash flows from investing activities:
Proceeds from sale of premises and equipment	6,170		—
Purchases of premises and equipment	(676)		(1,311)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity	14,335		20,197
Proceeds from maturities, calls and principal repayments of securities available-for-sale	8,501		12,708
Proceeds from sales of securities available-for-sale	1,530		1,563
Purchases of investment securities held-to-maturity	(3,936)		(4,625)
Purchases of investment securities available-for-sale	(63,634)		(32,540)
Proceeds from sales of money market mutual funds	2,508		2,020
Purchases of money market mutual funds	(2,077)		(2,150)
Net decrease in other investments	1,856		2,612
Net increase in loans and leases	(90,783)		(108,296)
Net cash used in investing activities	(126,206)		(109,822)
Cash flows from financing activities:
Net (decrease) increase in deposits	(7,200)		68,869
Net (decrease) increase in short-term borrowings	(1,130)		8,770
Repayment of long-term debt	—		(15,000)
Repayment of subordinated debt	—		(10,000)
Payment of contingent consideration on acquisitions	—		(29)
Payment for shares withheld to cover taxes on vesting of restricted stock units	(863)		(355)
Purchases of treasury stock	—		(295)
Stock issued under dividend reinvestment and employee stock purchase plans	623		609
Proceeds from exercise of stock options	576		759
Cash dividends paid	(6,109)		(5,920)
Net cash (used in) provided by financing activities	(14,103)		47,408
Net decrease in cash and cash equivalents	(116,369)		(32,541)
Cash and cash equivalents at beginning of year	890,150		219,858
Cash and cash equivalents at end of period	$	773,781	$	187,317
Supplemental disclosures of cash flow information:
Cash paid for interest	$	5,559	$	6,856
Cash paid for income taxes, net of refunds	28		130
Non cash transactions:
Transfer of loans to other real estate owned	$	—	$	126

Note: See accompanying notes to the unaudited condensed consolidated financial statements.

6

UNIVEST FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to the Condensed Consolidated Financial Statements (Unaudited)

Note 1. Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Univest Financial Corporation (the Corporation) and its wholly owned subsidiaries. The Corporation’s direct subsidiary is Univest Bank and Trust Co. (the Bank). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations for interim financial information. The accompanying unaudited consolidated financial statements reflect all adjustments, which are of a normal recurring nature and are, in the opinion of management, necessary for a fair presentation of the financial statements for the interim periods presented. Certain prior period amounts have been reclassified to conform to the current-period presentation. Operating results for the three-month period ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ended December 31, 2022 or for any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 25, 2022.

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes include the fair value measurement of investment securities available-for-sale and the calculation of the allowance for credit losses.

Accounting Pronouncements Adopted in 2022

In January 2020, the FASB issued ASU No. 2020-01, "Investments—Equity Securities (Topic 321): Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." This ASU 2020-01 clarifies the interactions between ASC 321, ASC 323 and ASC 815 and addresses accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. This ASU became effective on January 1, 2022 for the Corporation. The adoption of this ASU did not have a material impact on the Corporation's financial statements.

In August 2020, the FASB issued ASU No. 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)." This guidance simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU also simplify the guidance in ASC 815-40 by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and require entities to presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. This ASU became effective on January 1, 2022 for the Corporation. The adoption of this ASU did not have a material impact on the Corporation's financial statements.

In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method." ASU 2022-01 addresses and clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-12 that established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. This ASU allows entities to designate multiple hedging relationships with a single closed portfolio, including both prepayable and non-prepayable financial assets, and therefore a larger portion of the interest rate risk associated with such a portfolio is eligible to be hedged.

7

This ASU is effective for fiscal years beginning after December 15, 2022 or January 1, 2023 for the Corporation, including interim periods within those fiscal years. Early adoption, however, is permitted if an entity has adopted the amendments in ASU 2017-12. The Corporation has elected to early adopt this ASU, and the adoption of this ASU did not have a material impact on the Corporation's financial statements.

Recent Accounting Pronouncements Yet to Be Adopted

In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted CECL and enhance the disclosure requirements for modifications of receivables made with borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs by year of origination for financing receivables and net investment in leases in the existing vintage disclosures. This ASU is effective for fiscal years beginning after December 15, 2022 or January 1, 2023 for the Corporation, including interim periods within those fiscal years for entities that have adopted CECL. Early adoption is permitted if an entity has adopted CECL. The Corporation is in the process of evaluating the amendments but does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements.

Note 2. Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share. For additional information on the calculation of basic and diluted earnings per share, see Note 1, "Summary of Significant Accounting Policies - Earnings per Share" of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021.

	Three Months Ended
	March 31,
(Dollars and shares in thousands, except per share data)	2022		2021
Numerator:
Net income	$	20,317	$	32,603
Net income allocated to unvested restricted stock awards	—		(37)
Net income allocated to common shares	$	20,317	$	32,566
Denominator:
Weighted average shares outstanding	29,542		29,329
Average unvested restricted stock awards	—		(32)
Denominator for basic earnings per share—weighted-average shares outstanding	29,542		29,297
Effect of dilutive securities—employee stock options and restricted stock units	196		135
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,738		29,432
Basic earnings per share	$	0.69	$	1.11
Diluted earnings per share	$	0.68	$	1.11
Average antidilutive options and restricted stock units excluded from computation of diluted earnings per share	249		315

8

Note 3. Investment Securities

The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at March 31, 2022 and December 31, 2021, by contractual maturity within each type:

	At March 31, 2022
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
Within 1 year	$	2,000	$	8	$	—	$	—	$	2,008
	2,000		8		—		—		2,008
Residential mortgage-backed securities:
After 1 year to 5 years	1,188		—		(16)		—		1,172
After 5 years to 10 years	5,858		7		(32)		—		5,833
Over 10 years	157,293		268		(8,650)		—		148,911
	164,339		275		(8,698)		—		155,916
Total	$	166,339	$	283	$	(8,698)	$	—	$	157,924
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years	$	2,326	$	1	$	(15)	$	—	$	2,312
	2,326		1		(15)		—		2,312
Residential mortgage-backed securities:
Within 1 year	21		—		—		—		21
After 1 year to 5 years	370		—		(4)		—		366
After 5 years to 10 years	3,533		—		(48)		—		3,485
Over 10 years	271,817		32		(19,033)		—		252,816
	275,741		32		(19,085)		—		256,688
Collateralized mortgage obligations:
After 5 years to 10 years	439		—		(7)		—		432
Over 10 years	2,631		—		(116)		—		2,515
	3,070		—		(123)		—		2,947
Corporate bonds:
Within 1 year	1,500		—		—		—		1,500
After 1 year to 5 years	29,726		64		(561)		(85)		29,144
After 5 years to 10 years	60,497		—		(1,904)		(1,190)		57,403
	91,723		64		(2,465)		(1,275)		88,047
Total	$	372,860	$	97	$	(21,688)	$	(1,275)	$	349,994

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	At December 31, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
Within 1 year	$	6,999	$	34	$	—	$	—	$	7,033
	6,999		34		—		—		7,033
Residential mortgage-backed securities:
After 5 years to 10 years	5,208		194		—		—		5,402
Over 10 years	164,776		2,175		(984)		—		165,967
	169,984		2,369		(984)		—		171,369
Total	$	176,983	$	2,403	$	(984)	$	—	$	178,402
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years	$	2,326	$	7	$	—	$	—	$	2,333
	2,326		7		—		—		2,333
Residential mortgage-backed securities:
Within 1 year	31		—		—		—		31
After 1 year to 5 years	153		5		—		—		158
After 5 years to 10 years	2,286		82		—		—		2,368
Over 10 years	220,153		671		(2,276)		—		218,548
	222,623		758		(2,276)		—		221,105
Collateralized mortgage obligations:
After 5 years to 10 years	481		7		—		—		488
Over 10 years	2,813		—		(23)		—		2,790
	3,294		7		(23)		—		3,278
Corporate bonds:
Within 1 year	2,500		4		—		—		2,504
After 1 year to 5 years	28,731		755		(67)		(51)		29,368
After 5 years to 10 years	60,000		—		(703)		(878)		58,419
	91,231		759		(770)		(929)		90,291
Total	$	319,474	$	1,531	$	(3,069)	$	(929)	$	317,007

Expected maturities may differ from contractual maturities because debt issuers may have the right to call or prepay obligations without call or prepayment penalties and mortgage-backed securities typically prepay at a rate faster than contractually due.

Securities with a carrying value of $439.9 million and $281.7 million at March 31, 2022 and December 31, 2021, respectively, were pledged to secure public funds deposits and other contractual obligations. There were no pledged securities to secure credit derivatives and interest rate swaps at March 31, 2022. Securities of $23.0 million were pledged to secure credit derivatives and interest rate swaps at December 31, 2021. See Note 11, "Derivative Instruments and Hedging Activities" for additional information.

The following table presents information related to sales of securities available-for-sale during the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Securities available-for-sale:
Proceeds from sales	$	1,530	$	1,563
Gross realized gains on sales	30		65
Tax expense related to net realized gains on sales	6		14

At March 31, 2022 and December 31, 2021, there were no reportable investments in any single issuer representing more than 10% of shareholders’ equity.

10

The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2022 and December 31, 2021, by the length of time those securities were in a continuous loss position.

	Less than Twelve Months				Twelve Months or Longer				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
At March 31, 2022
Securities Held-to-Maturity
Residential mortgage-backed securities	$	129,937	$	(8,276)	$	3,872	$	(422)	$	133,809	$	(8,698)
Total	$	129,937	$	(8,276)	$	3,872	$	(422)	$	133,809	$	(8,698)
Securities Available-for-Sale
State and political subdivisions	$	1,281	$	(15)	$	—	$	—	$	1,281	$	(15)
Residential mortgage-backed securities	205,772		(13,887)		48,596		(5,198)		254,368		(19,085)
Collateralized mortgage obligations	2,947		(123)		—		—		2,947		(123)
Corporate bonds	1,280		(1)		—		—		1,280		(1)
Total	$	211,280	$	(14,026)	$	48,596	$	(5,198)	$	259,876	$	(19,224)
At December 31, 2021
Securities Held-to-Maturity
Residential mortgage-backed securities	$	89,837	$	(984)	$	—	$	—	$	89,837	$	(984)
Total	$	89,837	$	(984)	$	—	$	—	$	89,837	$	(984)
Securities Available-for-Sale
Residential mortgage-backed securities	$	164,326	$	(1,816)	$	12,097	$	(460)	$	176,423	$	(2,276)
Collateralized mortgage obligations	2,790		(23)		—		—		2,790		(23)
Corporate bonds	779		(1)		—		—		779		(1)
Total	$	167,895	$	(1,840)	$	12,097	$	(460)	$	179,992	$	(2,300)

At March 31, 2022, the fair value of held-to-maturity securities in an unrealized loss position for which an allowance for credit losses has not been recorded was $133.8 million, including unrealized losses of $8.7 million. These holdings were comprised of fifty-nine federal agency mortgage-backed securities, which are U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The Corporation did not recognize any credit losses on held-to-maturity debt securities for the three months ended March 31, 2022. Accrued interest receivable on held-to-maturity debt securities totaled $351 thousand at March 31, 2022 and is included within Accrued interest receivable and other assets on the condensed consolidated balance sheet. This amount is excluded from the estimate of expected credit losses.

At March 31, 2022, the fair value of available-for-sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded was $259.9 million, including unrealized losses of $19.2 million. These holdings were comprised of (1) eighty-seven federal agency mortgage-backed securities, which are U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses, (2) three investment grade corporate bonds, (3) two collateralized mortgage obligation bonds and (4) one state and political subdivisions bond. The Corporation does not intend to sell the securities in an unrealized loss position and is unlikely to be required to sell these securities before a recovery of fair value, which may be maturity. The Corporation concluded that the decline in fair value of these securities was not indicative of a credit loss. Accrued interest receivable on available-for-sale debt securities totaled $821 thousand at March 31, 2022 and is included within Accrued interest receivable and other assets on the condensed consolidated balance sheet. This amount is excluded from the estimate of expected credit losses.

11

The table below presents a rollforward by major security type for the three months ended March 31, 2022 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)	Corporate Bonds
Three months ended March 31, 2022
Securities Available-for-Sale
Beginning balance	$	(929)
Additions for securities for which no previous expected credit losses were recognized	(45)
Change in securities for which a previous expected credit loss was recognized	(301)
Ending balance	$	(1,275)
Three months ended March 31, 2021
Securities Available-for-Sale
Beginning balance	$	(869)
Additions for securities for which no previous expected credit losses were recognized	(19)
Change in securities for which a previous expected credit loss was recognized	403
Ending balance	$	(485)

At March 31, 2022, the fair value of available-for-sale securities in an unrealized loss position for which an allowance for credit losses has been recorded was $74.1 million, including unrealized losses of $3.7 million, and allowance for credit losses of $1.3 million. These holdings were comprised of thirty-three investment grade corporate bonds which fluctuate in value based on changes in market conditions. For these securities, fluctuations were primarily due to changes in the interest rate environment. The Corporation does not have the intent to sell these securities and it is not likely that it will be required to sell the securities before their anticipated recovery. The underlying issuers continue to make timely principal and interest payments on the securities.

The Corporation recognized a $1 thousand and a $115 thousand net gain on equity securities during the three months ended March 31, 2022 and 2021, respectively, in other noninterest income. There were no sales of equity securities during the three months ended March 31, 2022 or 2021.

Note 4. Loans and Leases

Summary of Major Loan and Lease Categories

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
Commercial, financial and agricultural	$	932,485	$	956,396
Paycheck Protection Program	10,298		31,748
Real estate-commercial	2,816,737		2,718,535
Real estate-construction	285,083		283,918
Real estate-residential secured for business purpose	412,486		409,900
Real estate-residential secured for personal purpose	568,735		540,566
Real estate-home equity secured for personal purpose	160,134		158,909
Loans to individuals	26,249		25,504
Lease financings	188,579		184,541
Total loans and leases held for investment, net of deferred income	$	5,400,786	$	5,310,017
Less: Allowance for credit losses, loans and leases	(68,286)		(71,924)
Net loans and leases held for investment	$	5,332,500	$	5,238,093
Imputed interest on lease financings, included in the above table	$	(19,204)	$	(19,104)
Net deferred costs, included in the above table	4,324		3,408
Overdraft deposits included in the above table	3,286		4,268

12

Age Analysis of Past Due Loans and Leases

The following presents, by class of loans and leases held for investment, an aging of past due loans and leases, loans and leases which are current and nonaccrual loans and leases at March 31, 2022 and December 31, 2021:

	Accruing Loans and Leases
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or more Past Due		Total Past Due		Current		Total Accruing Loans and Leases		Nonaccrual Loans and Leases		Total Loans and Leases Held for Investment
At March 31, 2022
Commercial, financial and agricultural	$	4,880	$	—	$	—	$	4,880	$	927,157	$	932,037	$	448	$	932,485
Paycheck Protection Program	—		—		—		—		10,298		10,298		—		10,298
Real estate—commercial real estate and construction:
Commercial real estate	2,833		—		—		2,833		2,787,493		2,790,326		26,411		2,816,737
Construction	—		—		—		—		285,083		285,083		—		285,083
Real estate—residential and home equity:
Residential secured for business purpose	294		89		—		383		410,983		411,366		1,120		412,486
Residential secured for personal purpose	1,112		—		—		1,112		565,364		566,476		2,259		568,735
Home equity secured for personal purpose	77		20		—		97		159,548		159,645		489		160,134
Loans to individuals	34		14		185		233		26,016		26,249		—		26,249
Lease financings	221		124		89		434		187,996		188,430		149		188,579
Total	$	9,451	$	247	$	274	$	9,972	$	5,359,938	$	5,369,910	$	30,876	$	5,400,786

	Accruing Loans and Leases
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or more Past Due		Total Past Due		Current		Total Accruing Loans and Leases		Nonaccrual Loans and Leases		Total Loans and Leases Held for Investment
At December 31, 2021
Commercial, financial and agricultural	$	3,407	$	894	$	—	$	4,301	$	951,647	$	955,948	$	448	$	956,396
Paycheck Protection Program	367		—		—		367		31,381		31,748		—		31,748
Real estate—commercial real estate and construction:
Commercial real estate	234		—		—		234		2,690,401		2,690,635		27,900		2,718,535
Construction	—		—		—		—		283,918		283,918		—		283,918
Real estate—residential and home equity:
Residential secured for business purpose	542		—		216		758		406,955		407,713		2,187		409,900
Residential secured for personal purpose	2,976		162		—		3,138		535,379		538,517		2,049		540,566
Home equity secured for personal purpose	646		129		—		775		157,589		158,364		545		158,909
Loans to individuals	90		27		180		297		25,207		25,504		—		25,504
Lease financings	774		397		102		1,273		183,187		184,460		81		184,541
Total	$	9,036	$	1,609	$	498	$	11,143	$	5,265,664	$	5,276,807	$	33,210	$	5,310,017

13

Nonperforming Loans and Leases

The following presents, by class of loans and leases, nonperforming loans and leases at March 31, 2022 and December 31, 2021.

	At March 31, 2022								At December 31, 2021
(Dollars in thousands)	Nonaccrual Loans and Leases*		Accruing Troubled Debt Restructured Loans and Lease Modifications		Loans and Leases 90 Days or more Past Due and Accruing Interest		Total Nonperforming Loans and Leases		Nonaccrual Loans and Leases*		Accruing Troubled Debt Restructured Loans and Lease Modifications		Loans and Leases 90 Days or more Past Due and Accruing Interest		Total Nonperforming Loans and Leases
Commercial, financial and agricultural	$	448	$	—	$	—	$	448	$	448	$	—	$	—	$	448
Real estate—commercial real estate and construction:
Commercial real estate	26,411		—		—		26,411		27,900		—		—		27,900
Real estate—residential and home equity:
Residential secured for business purpose	1,120		—		—		1,120		2,187		—		216		2,403
Residential secured for personal purpose	2,259		—		—		2,259		2,049		—		—		2,049
Home equity secured for personal purpose	489		51		—		540		545		51		—		596
Loans to individuals	—		—		185		185		—		—		180		180
Lease financings	149		—		89		238		81		—		102		183
Total	$	30,876	$	51	$	274	$	31,201	$	33,210	$	51	$	498	$	33,759

*Includes nonaccrual troubled debt restructured loans of $830 thousand and $758 thousand at March 31, 2022 and December 31, 2021, respectively.

14

The following table presents the amortized cost basis of loans and leases held for investment on nonaccrual status and loans and leases held for investment 90 days or more past due and still accruing as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	Nonaccrual With No ACL		Nonaccrual With ACL		Total Nonaccrual		Loans and Leases 90 Days or more Past Due and Accruing Interest
At March 31, 2022
Commercial, financial and agricultural	$	448	$	—	$	448	$	—
Real estate-commercial	21,597		4,814		26,411		—
Real estate-residential secured for business purpose	1,120		—		1,120		—
Real estate-residential secured for personal purpose	2,259		—		2,259		—
Real estate-home equity secured for personal purpose	489		—		489		—
Loans to individuals	—		—		—		185
Lease financings	—		149		149		89
Total	$	25,913	$	4,963	$	30,876	$	274
At December 31, 2021
Commercial, financial and agricultural	$	448	$	—	$	448	$	—
Real estate-commercial	27,818		82		27,900		—
Real estate-residential secured for business purpose	2,187		—		2,187		216
Real estate-residential secured for personal purpose	2,049		—		2,049		—
Real estate-home equity secured for personal purpose	545		—		545		—
Loans to individuals	—		—		—		180
Lease financings	—		81		81		102
Total	$	33,047	$	163	$	33,210	$	498

For the three months ended March 31, 2022, $14 thousand of interest income was recognized on nonaccrual loans and leases.

The following table presents, by class of loans and leases, the amortized cost basis of collateral-dependent nonaccrual loans and leases and type of collateral as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	Real Estate		Other (1)		None (2)		Total
At March 31, 2022
Commercial, financial and agricultural	$	273	$	—	$	175	$	448
Real estate-commercial	26,411		—		—		26,411
Real estate-residential secured for business purpose	1,120		—		—		1,120
Real estate-residential secured for personal purpose	2,259		—		—		2,259
Real estate-home equity secured for personal purpose	489		—		—		489
Lease financings	—		149		—		149
Total	$	30,552	$	149	$	175	$	30,876
(Dollars in thousands)	Real Estate		Other (1)		None (2)		Total
At December 31, 2021
Commercial, financial and agricultural	$	273	$	—	$	175	$	448
Real estate-commercial	27,900		—		—		27,900
Real estate-residential secured for business purpose	2,187		—		—		2,187
Real estate-residential secured for personal purpose	2,049		—		—		2,049
Real estate-home equity secured for personal purpose	545		—		—		545
Lease financings	—		81		—		81
Total	$	32,954	$	81	$	175	$	33,210

(1) Collateral consists of business assets, including accounts receivable, personal property and equipment.

(2) Loans fully guaranteed by the SBA.

15

Credit Quality Indicators

The Corporation categorizes risk based on relevant information about the ability of the borrower to service their debt. Loans with a relationship balance of less than $1 million are reviewed when necessary based on their performance, primarily when such loans are delinquent. Loans with relationships greater than $1 million are reviewed at least annually. Loan relationships with a higher risk profile or classified as special mention or substandard are reviewed at least quarterly. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2021. The following is a description of the internal risk ratings and the likelihood of loss related to the credit quality of Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real estate-commercial loans, Real estate-construction loans and Real estate-residential secured for a business purpose loans.

1.Pass—Loans considered satisfactory with no indications of deterioration

2.Special Mention—Potential weakness that deserves management's close attention

3.Substandard—Well-defined weakness or weaknesses that jeopardize the liquidation of the debt

4.Doubtful—Collection or liquidation in-full, on the basis of current existing facts, conditions and values, highly questionable and improbable

16

Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real estate-commercial loans, Real estate-construction loans and Real estate-residential secured for a business purpose loans by credit quality indicator at March 31, 2022 and December 31, 2021.

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
At March 31, 2022
Commercial, Financial and Agricultural
Risk Rating
1. Pass	$	61,928	$	189,868	$	66,196	$	43,083	$	41,794	$	63,584	$	428,551	$	895,004
2. Special Mention	—		2,251		4,340		2,193		5,605		1,462		16,565		32,416
3. Substandard	—		—		—		—		—		200		4,865		5,065
Total	$	61,928	$	192,119	$	70,536	$	45,276	$	47,399	$	65,246	$	449,981	$	932,485
Paycheck Protection Program
Risk Rating
1. Pass	$	12	$	10,221	$	61	$	—	$	—	$	—	$	—	$	10,294
2. Special Mention	—		—		4		—		—		—		—		4
3. Substandard	—		—		—		—		—		—		—		—
Total	$	12	$	10,221	$	65	$	—	$	—	$	—	$	—	$	10,298
Real Estate-Commercial
Risk Rating
1. Pass	$	217,789	$	781,652	$	840,423	$	385,224	$	145,916	$	326,313	$	45,914	$	2,743,231
2. Special Mention	912		2,542		5,877		22,938		8,724		5,366		73		46,432
3. Substandard	—		—		22,087		3,499		237		1,251		—		27,074
Total	$	218,701	$	784,194	$	868,387	$	411,661	$	154,877	$	332,930	$	45,987	$	2,816,737
Real Estate-Construction
Risk Rating
1. Pass	$	27,984	$	120,060	$	42,327	$	35,566	$	—	$	273	$	9,913	$	236,123
2. Special Mention	—		23,889		500		4,571		20,000		—		—		48,960
3. Substandard	—		—		—		—		—		—		—		—
Total	$	27,984	$	143,949	$	42,827	$	40,137	$	20,000	$	273	$	9,913	$	285,083
Real Estate-Residential Secured for Business Purpose
Risk Rating
1. Pass	$	30,735	$	143,361	$	81,059	$	47,555	$	31,457	$	46,896	$	29,087	$	410,150
2. Special Mention	—		—		253		—		—		960		—		1,213
3. Substandard	—		—		—		—		43		929		151		1,123
Total	$	30,735	$	143,361	$	81,312	$	47,555	$	31,500	$	48,785	$	29,238	$	412,486
Totals By Risk Rating
1. Pass	$	338,448	$	1,245,162	$	1,030,066	$	511,428	$	219,167	$	437,066	$	513,465	$	4,294,802
2. Special Mention	912		28,682		10,974		29,702		34,329		7,788		16,638		129,025
3. Substandard	—		—		22,087		3,499		280		2,380		5,016		33,262
Total	$	339,360	$	1,273,844	$	1,063,127	$	544,629	$	253,776	$	447,234	$	535,119	$	4,457,089

17

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
At December 31, 2021
Commercial, Financial and Agricultural
Risk Rating
1. Pass	$	215,197	$	79,739	$	69,618	$	52,507	$	23,253	$	49,827	$	442,288	$	932,429
2. Special Mention	1,001		3,459		2,389		394		428		1,231		10,162		19,064
3. Substandard	—		—		—		—		16		200		4,687		4,903
Total	$	216,198	$	83,198	$	72,007	$	52,901	$	23,697	$	51,258	$	457,137	$	956,396
Paycheck Protection Program
Risk Rating
1. Pass	$	31,554	$	194	$	—	$	—	$	—	$	—	$	—	$	31,748
2. Special Mention	—		—		—		—		—		—		—		—
3. Substandard	—		—		—		—		—		—		—		—
Total	$	31,554	$	194	$	—	$	—	$	—	$	—	$	—	$	31,748
Real Estate-Commercial
Risk Rating
1. Pass	$	802,878	$	858,426	$	407,944	$	155,892	$	195,756	$	172,702	$	48,354	$	2,641,952
2. Special Mention	2,567		14,338		23,134		—		916		5,630		98		46,683
3. Substandard	—		22,055		3,405		1,995		1,110		1,335		—		29,900
Total	$	805,445	$	894,819	$	434,483	$	157,887	$	197,782	$	179,667	$	48,452	$	2,718,535
Real Estate-Construction
Risk Rating
1. Pass	$	137,622	$	59,952	$	38,592	$	9,995	$	198	$	—	$	8,543	$	254,902
2. Special Mention	4,684		500		3,832		20,000		—		—		—		29,016
3. Substandard	—		—		—		—		—		—		—		—
Total	$	142,306	$	60,452	$	42,424	$	29,995	$	198	$	—	$	8,543	$	283,918
Real Estate-Residential Secured for Business Purpose
Risk Rating
1. Pass	$	154,423	$	84,982	$	51,970	$	34,373	$	28,852	$	25,819	$	25,564	$	405,983
2. Special Mention	210		352		—		—		73		1,093		—		1,728
3. Substandard	—		—		—		45		24		1,549		571		2,189
Total	$	154,633	$	85,334	$	51,970	$	34,418	$	28,949	$	28,461	$	26,135	$	409,900
Totals By Risk Rating
1. Pass	$	1,341,674	$	1,083,293	$	568,124	$	252,767	$	248,059	$	248,348	$	524,749	$	4,267,014
2. Special Mention	8,462		18,649		29,355		20,394		1,417		7,954		10,260		96,491
3. Substandard	—		22,055		3,405		2,040		1,150		3,084		5,258		36,992
Total	$	1,350,136	$	1,123,997	$	600,884	$	275,201	$	250,626	$	259,386	$	540,267	$	4,400,497

The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021. The Corporation had no loans with a risk rating of Doubtful included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021.

18

The Corporation monitors the credit risk profile by payment activity for the following classifications of loans and leases: Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2021. Loans and leases past due 90 days or more, loans and leases on nonaccrual status and troubled debt restructured loans and lease modifications are considered nonperforming. Nonperforming loans and leases are reviewed monthly. Performing loans and leases have a nominal to moderate risk of loss. Performing loans and leases are reviewed only if the loan becomes 60 days or more past due.

Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings by credit quality indicator at March 31, 2022 and December 31, 2021.

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
At March 31, 2022
Real Estate-Residential Secured for Personal Purpose
Payment Performance
1. Performing	$	54,140	$	216,048	$	156,027	$	29,247	$	20,629	$	90,321	$	64	$	566,476
2. Nonperforming	—		52		621		—		371		1,215		—		2,259
Total	$	54,140	$	216,100	$	156,648	$	29,247	$	21,000	$	91,536	$	64	$	568,735
Real Estate-Home Equity Secured for Personal Purpose
Payment Performance
1. Performing	$	302	$	943	$	665	$	359	$	340	$	2,086	$	154,899	$	159,594
2. Nonperforming	—		—		—		—		171		57		312		540
Total	$	302	$	943	$	665	$	359	$	511	$	2,143	$	155,211	$	160,134
Loans to Individuals
Payment Performance
1. Performing	$	387	$	1,169	$	785	$	560	$	368	$	1,569	$	21,226	$	26,064
2. Nonperforming	—		—		—		—		—		185		—		185
Total	$	387	$	1,169	$	785	$	560	$	368	$	1,754	$	21,226	$	26,249
Lease Financings
Payment Performance
1. Performing	$	21,441	$	78,330	$	46,930	$	25,318	$	13,314	$	3,008	$	—	$	188,341
2. Nonperforming	—		162		14		35		17		10		—		238
Total	$	21,441	$	78,492	$	46,944	$	25,353	$	13,331	$	3,018	$	—	$	188,579
Totals by Payment Performance
1. Performing	$	76,270	$	296,490	$	204,407	$	55,484	$	34,651	$	96,984	$	176,189	$	940,475
2. Nonperforming	—		214		635		35		559		1,467		312		3,222
Total	$	76,270	$	296,704	$	205,042	$	55,519	$	35,210	$	98,451	$	176,501	$	943,697

19

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
At December 31, 2021
Real Estate-Residential Secured for Personal Purpose
Payment Performance
1. Performing	$	219,680	$	162,609	$	34,102	$	23,065	$	19,912	$	78,960	$	189	$	538,517
2. Nonperforming	53		634		—		371		—		991		—		2,049
Total	$	219,733	$	163,243	$	34,102	$	23,436	$	19,912	$	79,951	$	189	$	540,566
Real Estate-Home Equity Secured for Personal Purpose
Payment Performance
1. Performing	$	961	$	876	$	370	$	415	$	704	$	1,655	$	153,332	$	158,313
2. Nonperforming	—		—		—		173		—		60		363		596
Total	$	961	$	876	$	370	$	588	$	704	$	1,715	$	153,695	$	158,909
Loans to Individuals
Payment Performance
1. Performing	$	1,376	$	893	$	722	$	466	$	100	$	1,673	$	20,094	$	25,324
2. Nonperforming	—		—		—		—		—		180		—		180
Total	$	1,376	$	893	$	722	$	466	$	100	$	1,853	$	20,094	$	25,504
Lease Financings
Payment Performance
1. Performing	$	83,161	$	51,808	$	28,405	$	16,389	$	4,204	$	391	$	—	$	184,358
2. Nonperforming	—		14		64		58		7		40		—		183
Total	$	83,161	$	51,822	$	28,469	$	16,447	$	4,211	$	431	$	—	$	184,541
Totals by Payment Performance
1. Performing	$	305,178	$	216,186	$	63,599	$	40,335	$	24,920	$	82,679	$	173,615	$	906,512
2. Nonperforming	53		648		64		602		7		1,271		363		3,008
Total	$	305,231	$	216,834	$	63,663	$	40,937	$	24,927	$	83,950	$	173,978	$	909,520

The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021.

20

Allowance for Credit Losses on Loans and Leases and Recorded Investment in Loans and Leases

The allowance for credit losses (ACL) on loans decreased during the three months ended March 31, 2022 primarily due to favorable changes in economic-related assumptions, which were impacted by the ongoing recovery from the COVID-19 pandemic, partially offset by loan growth. There were no changes to the reasonable and supportable forecast period, the reversion period, or any significant methodology changes during the three months ended March 31, 2022. The following presents, by portfolio segment, a summary of the activity in the allowance for credit losses, loans and leases, for the three months ended March 31, 2022 and 2021:

(Dollars in thousands)	Beginning balance		Provision (reversal of provision) for credit losses		Charge-offs		Recoveries		Ending balance
Three Months Ended March 31, 2022
Allowance for credit losses, loans and leases:
Commercial, Financial and Agricultural	$	13,536	$	(1,671)	$	(214)	$	189	$	11,840
Paycheck Protection Program	2		(1)		—		—		1
Real Estate-Commercial	41,095		(669)		—		—		40,426
Real Estate-Construction	4,575		(941)		—		—		3,634
Real Estate-Residential Secured for Business Purpose	6,482		(328)		—		48		6,202
Real Estate-Residential Secured for Personal Purpose	2,403		189		—		—		2,592
Real Estate-Home Equity Secured for Personal Purpose	1,028		(53)		—		1		976
Loans to Individuals	363		57		(75)		24		369
Lease Financings	2,290		5		(59)		10		2,246
Unallocated	150		(150)		N /A		N/A		—
Total	$	71,924	$	(3,562)	$	(348)	$	272	$	68,286
Three Months Ended March 31, 2021
Allowance for credit losses, loans and leases:
Commercial, Financial and Agricultural	$	13,584	$	(3,078)	$	(338)	$	65	$	10,233
Real Estate-Commercial	52,230		(6,771)		—		—		45,459
Real Estate-Construction	3,298		(499)		—		—		2,799
Real Estate-Residential Secured for Business Purpose	7,317		(679)		—		54		6,692
Real Estate-Residential Secured for Personal Purpose	3,055		1		—		—		3,056
Real Estate-Home Equity Secured for Personal Purpose	1,176		79		—		2		1,257
Loans to Individuals	533		(58)		(56)		28		447
Lease Financings	1,701		(254)		(91)		48		1,404
Unallocated	150		—		N/A		N/A		150
Total	$	83,044	$	(11,259)	$	(485)	$	197	$	71,497

N/A – Not applicable

21

The following presents, by portfolio segment, the balance in the ACL on loans and leases, disaggregated on the basis of whether the loan or lease was measured for credit loss as a pooled loan or lease or if it was individually analyzed for a reserve at March 31, 2022 and 2021:

	Allowance for credit losses, loans and leases						Loans and leases held for investment
(Dollars in thousands)	Ending balance: individually analyzed		Ending balance: pooled		Total ending balance		Ending balance: individually analyzed		Ending balance: pooled		Loans measured at fair value		Total ending balance
At March 31, 2022
Commercial, Financial and Agricultural	$	—	$	11,840	$	11,840	$	448	$	932,037	$	—	$	932,485
Paycheck Protection Program	—		1		1		—		10,298		—		10,298
Real Estate-Commercial	954		39,472		40,426		26,411		2,790,313		13		2,816,737
Real Estate-Construction	—		3,634		3,634		—		285,083		—		285,083
Real Estate-Residential Secured for Business Purpose	—		6,202		6,202		1,120		411,366		—		412,486
Real Estate-Residential Secured for Personal Purpose	—		2,592		2,592		2,259		566,476		—		568,735
Real Estate-Home Equity Secured for Personal Purpose	—		976		976		489		159,645		—		160,134
Loans to Individuals	—		369		369		—		26,249		—		26,249
Lease Financings	—		2,246		2,246		—		188,579		—		188,579
Unallocated	N/A		—		—		N/A		N/A		N/A		N/A
Total	$	954	$	67,332	$	68,286	$	30,727	$	5,370,046	$	13	$	5,400,786
At March 31, 2021
Commercial, Financial and Agricultural	$	253	$	9,980	$	10,233	$	2,006	$	869,990	$	—	$	871,996
Paycheck Protection Program	—		—		—		—		528,452		—		528,452
Real Estate-Commercial	—		45,459		45,459		22,026		2,509,522		152		2,531,700
Real Estate-Construction	—		2,799		2,799		—		249,652		—		249,652
Real Estate-Residential Secured for Business Purpose	3		6,689		6,692		2,859		384,942		—		387,801
Real Estate-Residential Secured for Personal Purpose	25		3,031		3,056		1,867		492,482		—		494,349
Real Estate-Home Equity Secured for Personal Purpose	—		1,257		1,257		1,089		161,440		—		162,529
Loans to Individuals	—		447		447		—		25,468		—		25,468
Lease Financings	—		1,404		1,404		—		163,059		—		163,059
Unallocated	N/A		150		150		N/A		N/A		N/A		N/A
Total	$	281	$	71,216	$	71,497	$	29,847	$	5,385,007	$	152	$	5,415,006

N/A – Not applicable

22

Troubled Debt Restructured Loans

The following presents, by class of loans, information regarding troubled debt restructurings of accruing and nonaccrual loans.

	Three Months Ended March 31, 2022					Three Months Ended March 31, 2021
(Dollars in thousands)	Number of Loans	Pre- Restructuring Outstanding Recorded Investment		Post- Restructuring Outstanding Recorded Investment		Number of Loans	Pre- Restructuring Outstanding Recorded Investment		Post- Restructuring Outstanding Recorded Investment
Accruing Troubled Debt Restructured Loans:
Total	—	$	—	$	—	—	$	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Real estate—residential secured for business purpose	1	$	87	$	87	—	—		—
Total	1	$	87	$	87	—	$	—	$	—

The Corporation modified certain loans and leases via principal and/or interest deferrals in accordance with Section 4013 of the CARES Act, the Consolidated Appropriations Act, 2021 and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus and have not categorized these modifications as troubled debt restructurings. These loans and leases had a combined principal balance of approximately $2.7 million as of March 31, 2022, which represents approximately 0.1% of the loan portfolio, excluding PPP loans.

The following presents, by class of loans, information regarding the types of concessions granted on accruing and nonaccrual loans that were restructured during the three months ended March 31, 2022 and 2021.

	Maturity Date Extension
(Dollars in thousands)	No. of Loans	Amount
Three Months Ended March 31, 2022
Accruing Troubled Debt Restructured Loans:
Total	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Real estate—residential secured for business purpose	1	$	87
Total	1	$	87
Three Months Ended March 31, 2021
Accruing Troubled Debt Restructured Loans:
Total	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Total	—	$	—

There were no accruing or nonaccrual troubled debt restructured loans for which there were payment defaults within twelve months of the restructuring date for the three months ended March 31, 2022 or March 31, 2021.

There were no consumer mortgages collateralized by residential real estate property that were in the process of foreclosure at March 31, 2022 or December 31, 2021.

There was no foreclosed residential real estate property included in other real estate owned at March 31, 2022 or December 31, 2021.

23

Lease Financings

The following presents the schedule of minimum lease payments receivable:

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
2022 (excluding the three months ended March 31, 2022)	$	53,014	$	67,458
2023	59,657		54,859
2024	43,803		39,019
2025	28,588		24,426
2026	14,730		11,039
Thereafter	3,985		2,951
Total future minimum lease payments receivable	203,777		199,752
Plus: Unguaranteed residual	1,258		1,186
Plus: Initial direct costs	2,748		2,707
Less: Imputed interest	(19,204)		(19,104)
Lease financings	$	188,579	$	184,541

Note 5. Goodwill and Other Intangible Assets

The Corporation has goodwill from acquisitions which is deemed to be an indefinite intangible asset and is not amortized. Changes in the carrying amount of the Corporation's goodwill by business segment for the three months ended March 31, 2022 were as follows:

(Dollars in thousands)	Banking		Wealth Management		Insurance		Consolidated
Balance at December 31, 2021	$	138,476	$	15,434	$	21,600	$	175,510
Addition to goodwill from acquisitions	—		—		—		—
Balance at March 31, 2022	$	138,476	$	15,434	$	21,600	$	175,510

The Corporation also has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The following table reflects the components of intangible assets at the dates indicated:

	At March 31, 2022						At December 31, 2021
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	6,788	$	5,566	$	1,222	$	6,788	$	5,425	$	1,363
Customer related intangibles	8,493		6,053		2,440		8,493		5,886		2,607
Servicing rights	27,274		19,152		8,122		26,560		18,682		7,878
Total amortized intangible assets	$	42,555	$	30,771	$	11,784	$	41,841	$	29,993	$	11,848

(1) Included within accumulated amortization is a valuation allowance of $7 thousand and $13 thousand on servicing rights at March 31, 2022 and December 31, 2021, respectively.

24

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2022 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	849
2023		845
2024		648
2025		469
2026		319
Thereafter		532
Total		$	3,662

The aggregate fair value of servicing rights was $15.1 million and $11.3 million at March 31, 2022 and December 31, 2021, respectively. The fair value of these rights was determined using a discount rate of 10.2% at March 31, 2022 and December 31, 2021.

Changes in the servicing rights balance are summarized as follows:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Beginning of period	$	7,878	$	6,408
Servicing rights capitalized	714		1,313
Amortization of servicing rights	(476)		(792)
Changes in valuation allowance	6		86
End of period	$	8,122	$	7,015
Loans serviced for others	$	1,440,562	$	1,255,124

Activity in the valuation allowance for servicing rights was as follows:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Valuation allowance, beginning of period	$	(13)	$	(87)
Reductions	6		86
Valuation allowance, end of period	$	(7)	$	(1)

The estimated amortization expense of servicing rights for the remainder of 2022 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	1,130
2023		994
2024		871
2025		762
2026		664
Thereafter		3,701
Total		$	8,122

25

Note 6. Deposits

Deposits and their respective weighted average interest rate at March 31, 2022 and December 31, 2021 consisted of the following:

	At March 31, 2022				At December 31, 2021
	Weighted Average Interest Rate		Amount		Weighted Average Interest Rate		Amount
	(Dollars in thousands)
Noninterest-bearing deposits	—	%	$	2,136,467	—	%	$	2,065,423
Demand deposits	0.21		2,404,300		0.17		2,493,604
Savings deposits	0.08		1,040,890		0.04		1,011,931
Time deposits	1.05		466,275		1.06		484,166
Total	0.18	%	$	6,047,932	0.16	%	$	6,055,124

Deposits are insured up to applicable limits by the Deposit Insurance Fund of the FDIC, which is currently up to $250 thousand per account owner. The aggregate amount of time deposits in denominations over $250 thousand was $110.6 million at March 31, 2022 and $119.9 million at December 31, 2021.

At March 31, 2022, the scheduled maturities of time deposits are as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	198,418
2023		181,608
2024		50,943
2025		15,075
2026		3,576
Thereafter		16,655
Total		$	466,275

Note 7. Borrowings

The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less.

	At March 31, 2022				At December 31, 2021
(Dollars in thousands)	Balance at End of Period		Weighted Average Interest Rate at End of Period		Balance at End of Period		Weighted Average Interest Rate at End of Period
Short-term borrowings:
Customer repurchase agreements	$	18,976	0.05	%	$	20,106	0.05	%
Long-term debt:
FHLB advances	$	95,000	1.34	%	$	95,000	1.34	%
Subordinated notes	$	98,952	5.31	%	$	98,874	5.31	%

The Corporation, through the Bank, has a credit facility with the Federal Home Loan Bank (the FHLB) with a maximum borrowing capacity of approximately $2.5 billion. All borrowings and letters of credit from the FHLB are secured by qualifying commercial real estate and residential mortgage loans, investments and other assets. At March 31, 2022 and December 31, 2021, the Bank had outstanding short-term letters of credit with the FHLB totaling $620.0 million and $831.8 million, respectively, which were utilized to collateralize public funds deposits and other secured deposits. The maximum borrowing capacity with the FHLB changes as a function of the Bank’s qualifying collateral assets as well as the FHLB’s internal credit rating of the Bank. The available borrowing capacity from the FHLB totaled $1.8 billion at March 31, 2022.    

The Corporation, through the Bank, holds collateral at the Federal Reserve Bank of Philadelphia to provide access to the Discount Window Lending program. The collateral, consisting of investment securities, was valued at $74.5 million and $28.8

26

million at March 31, 2022 and December 31, 2021, respectively. At March 31, 2022 and December 31, 2021, the Corporation had no outstanding borrowings under the Discount Window Lending program.

The Corporation has a $10.0 million committed line of credit with a correspondent bank. At March 31, 2022 and December 31, 2021, the Corporation had no outstanding borrowings under this line.

The Corporation and the Bank had $2.6 billion and $2.5 billion of committed borrowing capacity at March 31, 2022 and December 31, 2021, respectively, of which $1.9 billion and $1.6 billion was available as of March 31, 2022 and December 31, 2021, respectively. The Corporation, through the Bank, also maintained uncommitted funding sources from correspondent banks of $400.0 million at March 31, 2022 and December 31, 2021, which were fully available. Future availability under these lines is subject to the prerogatives of the granting banks and may be withdrawn at will.

Long-term advances with the FHLB of Pittsburgh mature as follows:

(Dollars in thousands)	As of March 31, 2022		Weighted Average Rate
Remainder of 2022	$	—	—	%
2023	35,000		1.94
2024	60,000		0.98
2025	—		—
2026	—		—
Thereafter	—		—
Total	$	95,000	1.34	%

Note 8. Retirement Plans and Other Postretirement Benefits

Information with respect to the Retirement Plans and Other Postretirement Benefits follows: 

	Three Months Ended March 31,
	2022		2021		2022		2021
(Dollars in thousands)	Retirement Plans				Other Post Retirement Benefits
Service cost	$	137	$	130	$	30	$	36
Interest cost	390		354		24		21
Expected loss on plan assets	(933)		(892)		—		—
Amortization of net actuarial loss	204		317		14		12
Net periodic benefit (income) cost	$	(202)	$	(91)	$	68	$	69

The components of net periodic benefit cost other than the service cost component are included in other noninterest expense in the condensed consolidated statements of income.

The Corporation expects to make contributions of $156 thousand to the Retirement Plans and $96 thousand to Other Postretirement Benefit plans in 2022. During the three months ended March 31, 2022, the Corporation contributed $39 thousand to its non-qualified retirement plans and $24 thousand to its other postretirement plans. During the three months ended March 31, 2022, $697 thousand was paid to participants from the retirement plans and $24 thousand was paid to participants from the other postretirement plans.

Note 9. Stock-Based Incentive Plan

The Corporation maintains the 2013 Long-Term Incentive Plan, which replaced the expired 2003 Long-Term Incentive Plan. In December 2018, the Corporation's Board of Directors approved an Amended and Restated Univest 2013 Long-Term Incentive Plan (the Plan) to permit the issuance of restricted stock units.

27

The following is a summary of the Corporation's stock option activity and related information for the three months ended March 31, 2022:

(Dollars in thousands, except per share data)	Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value at March 31, 2022
Outstanding at December 31, 2021	351,252	$	25.74
Expired	(1,500)	14.80
Forfeited	(3,000)	28.33
Exercised	(25,781)	22.33
Outstanding at March 31, 2022	320,971	26.05		4.8	$	610
Exercisable at March 31, 2022	320,971	26.05		4.8	610

The Corporation did not issue stock options during the three months ended March 31, 2022 or March 31, 2021.

The following is a summary of nonvested restricted stock units at March 31, 2022 including changes during the three months then ended:

(Dollars in thousands, except per share data)	Nonvested Stock Units	Weighted Average Grant Date Fair Value
Nonvested stock units at December 31, 2021	358,134	$	23.61
Granted	164,319	28.36
Cancelled by performance factor	(555)	23.18
Vested	(118,834)	23.29
Forfeited	(1,864)	25.17
Nonvested stock units at March 31, 2022	401,200	$	25.61

Certain information regarding restricted stock units is summarized below for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands, except per share data)	2022		2021
Restricted stock units granted	164,319		139,007
Weighted average grant date fair value	$	28.36	$	27.67
Intrinsic value of units granted	$	4,660	$	3,847
Restricted stock units vested	118,834		85,731
Weighted average grant date fair value	$	23.29	$	22.68
Intrinsic value of units vested	$	3,377	$	2,354

The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested restricted stock units at March 31, 2022 is presented below:

(Dollars in thousands)	Unrecognized Compensation Cost		Weighted-Average Period Remaining (Years)
Restricted stock units	$	8,241	2.3

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The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Stock-based compensation expense:
Stock options	$	—	$	62
Restricted stock units	934		812
Employee stock purchase plan	25		23
Total	$	959	$	897
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	$	1	$	33

Note 10. Accumulated Other Comprehensive (Loss) Income

The following table shows the components of accumulated other comprehensive (loss) income, net of taxes, for the periods presented:

(Dollars in thousands)	Net Unrealized (Losses) Gains on Available-for-Sale Investment Securities		Net Change Related to Derivatives Used for Cash Flow Hedges		Net Change Related to Defined Benefit Pension Plans		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2021	$	(1,216)	$	(159)	$	(14,978)	$	(16,353)
Other comprehensive income	(15,842)		114		172		(15,556)
Balance, March 31, 2022	$	(17,058)	$	(45)	$	(14,806)	$	(31,909)
Balance, December 31, 2020	$	(1,379)	$	(421)	$	(20,344)	$	(22,144)
Other comprehensive income	1,379		65		260		1,704
Balance, March 31, 2021	$	—	$	(356)	$	(20,084)	$	(20,440)

Note 11. Derivative Instruments and Hedging Activities

Interest Rate Swaps

The Corporation periodically uses interest rate swap agreements to modify interest rate characteristics from variable to fixed or fixed to variable in order to reduce the impact of interest rate changes on future net interest income. The Corporation’s credit exposure on interest rate swaps includes fair value and any collateral that is held by a third party.

In 2014, the Corporation entered into an amortizing interest rate swap classified as a cash flow hedge with a notional amount of $20.0 million to hedge a portion of the debt financing of a pool of 10-year fixed rate loans that were originated in 2013 with balances totaling $29.1 million at time of the hedge. A brokered money market demand account with a balance exceeding the amortizing interest rate swap balance is being used for the cash flow hedge. Under the terms of the swap agreement, the Corporation pays a fixed rate of 2.10% and receives a floating rate of one-month LIBOR. The swap matures in November 2022. The Corporation performed an assessment of the hedge for effectiveness at the inception of the hedge and on a recurring basis to determine that the derivative has been and is expected to continue to be highly effective in offsetting changes in cash flows of the hedged item. At March 31, 2022, approximately $40 thousand in net deferred losses, net of tax, recorded in accumulated other comprehensive loss are expected to be reclassified into earnings during the next twelve months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to March 31, 2022. At March 31, 2022, the notional amount of the interest rate swap was $14.4 million and the fair value was a liability of $57 thousand.

The Corporation has an interest rate swap with a current notional amount of $11 thousand, for a 15-year fixed rate loan that is earning interest at 7.43%. The Corporation pays a fixed rate of 7.43% and receives a floating rate based on the one-month LIBOR plus 224 basis points. The swap matures in April 2022. The interest rate swap is carried at fair value in accordance with FASB ASC 815 "Derivatives and Hedging." The loan is carried at fair value under the fair value option as permitted by FASB ASC 825 "Financial Instruments."

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Credit Derivatives

The Corporation has agreements with third-party financial institutions whereby the third-party financial institution enters into interest rate derivative contracts with loan customers referred to them by the Corporation. By the terms of the agreements, the third-party financial institution has recourse to the Corporation for any exposure created under each swap contract in the event the customer defaults on the swap agreement and the agreement is in a paying position to the third-party financial institution. These transactions represent credit derivatives and are a customary arrangement that allows the Corporation to provide access to interest rate swap transactions for customers without issuing the swap.

At March 31, 2022, the Corporation had 126 variable-rate to fixed-rate interest rate swap transactions between the third-party financial institution and customers with a current notional amount of $769.3 million and remaining maturities ranging from 1 month to 12 years. At March 31, 2022, the fair value of the Corporation's interest rate swap credit derivatives was a liability of $457 thousand. At March 31, 2022, the fair value of the swaps to the customers was a net liability of $2.1 million and all but one of these swaps were in paying positions to the third-party financial institution.

The maximum potential payments by the Corporation to the third-party financial institution under these credit derivatives are not estimable as they are contingent on future interest rates and the agreement does not provide for a limitation of the maximum potential payment amount.

Mortgage Banking Derivatives

Derivative loan commitments represent agreements for delayed delivery of financial instruments in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified instrument at a specified price or yield. The Corporation’s derivative loan commitments are commitments to sell loans secured by 1-to 4-family residential properties whose predominant risk characteristic is interest rate risk.

Derivatives Tables

The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the condensed consolidated balance sheets at March 31, 2022 and December 31, 2021. The Corporation pledges cash or securities to cover the negative fair value of derivative instruments. Cash collateral associated with derivative instruments are not added to or netted against the fair value amounts.

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2022
Interest rate swap - cash flow hedge	$	14,393		$	—	Other liabilities	$	57
Total	$	14,393		$	—		$	57
At December 31, 2021
Interest rate swap - cash flow hedge	$	14,611		$	—	Other liabilities	$	202
Total	$	14,611		$	—		$	202

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The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the condensed consolidated balance sheets at March 31, 2022 and December 31, 2021:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2022
Interest rate swap	$	11		$	—	Other liabilities	$	2
Credit derivatives	769,329			—		Other liabilities	457
Interest rate locks with customers	39,524			—		Other liabilities	245
Forward loan sale commitments	54,045		Other assets	806			—
Total	$	862,909		$	806		$	704
At December 31, 2021
Interest rate swap	$	46		$	—	Other liabilities	$	2
Credit derivatives	755,576			—		Other liabilities	381
Interest rate locks with customers	33,876		Other assets	765			—
Forward loan sale commitments	55,476		Other assets	87			—
Total	$	844,974		$	852		$	383

The following table presents amounts included in the condensed consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended
		March 31,
(Dollars in thousands)		2022		2021
Interest rate swap—cash flow hedge—net interest payments	Interest expense	$	68	$	76
Total net loss		$	(68)	$	(76)

The following table presents amounts included in the condensed consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended
		March 31,
(Dollars in thousands)		2022		2021
Credit derivatives	Other noninterest income	$	450	$	1,107
Interest rate locks with customers	Net loss on mortgage banking activities	(1,010)		(1,730)
Forward loan sale commitments	Net gain on mortgage banking activities	719		1,974
Total net gain		$	159	$	1,351

The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at March 31, 2022 and December 31, 2021:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At March 31, 2022		At December 31, 2021
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(45)	$	(159)
Total		$	(45)	$	(159)

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Note 12. Fair Value Disclosures

Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Corporation determines the fair value of financial instruments based on the fair value hierarchy. The Corporation maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Corporation. Unobservable inputs are inputs that reflect the Corporation’s assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances, including assumptions about risk. Three levels of inputs are used to measure fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement.

Level 1: Valuations are based on quoted prices in active markets for identical assets or liabilities that the Corporation can access at the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.

Level 2: Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3: Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Assets and liabilities utilizing Level 3 inputs include: financial instruments whose value is determined using pricing models, discounted cash-flow methodologies, or similar techniques, as well as instruments for which the fair value calculation requires significant management judgment or estimation.

Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Investment Securities

Where quoted prices are available in an active market for identical instruments, investment securities are classified within Level 1 of the valuation hierarchy. Level 1 investment securities include U.S. Treasury securities, most equity securities and money market mutual funds. Mutual funds are registered investment companies which are valued at net asset value of shares on a market exchange at the end of each trading day. Level 2 of the valuation hierarchy includes securities issued by U.S. Government sponsored enterprises, mortgage-backed securities, collateralized mortgage obligations, corporate and municipal bonds and certain equity securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. In cases where there is limited activity or less transparency around inputs to the valuation, investment securities are classified within Level 3 of the valuation hierarchy.

Fair values for securities are determined using independent pricing services and market-participating brokers. The Corporation’s independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the pricing service’s evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. If at any time, the pricing service determines that it does not have sufficient verifiable information to value a particular security, the Corporation will utilize valuations from another pricing service. Management has a sufficient understanding of the third-party service’s valuation models, assumptions and inputs used in determining the fair value of securities to enable management to maintain an appropriate system of internal control.

On a quarterly basis, the Corporation reviews changes, as submitted by the pricing service, in the market value of its security portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. If, upon the Corporation’s review or in comparing with another service, a material difference between pricing evaluations were to exist, the Corporation may submit an inquiry to the current pricing service regarding the data used to determine the valuation of a particular security. If the Corporation determines there is market information that would support a different valuation than from the current pricing service’s evaluation, the Corporation may utilize and change the security's valuation. There were no material differences in valuations noted at March 31, 2022.

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Loans Held for Sale

The fair value of our loans held for sale is based on estimates using Level 2 inputs. These inputs are based on pricing information obtained from wholesale mortgage banks and brokers and applied to loans with similar interest rates and maturities.

Derivative Financial Instruments

The fair values of derivative financial instruments are based upon the estimated amount the Corporation would receive or pay to terminate the contracts or agreements, taking into account current interest rates and, when appropriate, the current creditworthiness of the counterparties. Interest rate swaps and mortgage banking derivative financial instruments are classified within Level 2 of the valuation hierarchy. Credit derivatives are valued based on credit worthiness of the underlying borrower which is a significant unobservable input and therefore classified in Level 3 of the valuation hierarchy.

One commercial loan associated with an interest rate swap is classified in Level 3 of the valuation hierarchy at March 31, 2022 since lending credit risk is not an observable input for this loan.

Contingent Consideration Liability

The Corporation estimates the fair value of the contingent consideration liability by using a discounted cash flow model of future contingent payments based on projected revenue related to the acquired business. The estimated fair value of the contingent consideration liability is reviewed on a quarterly basis and any valuation adjustments resulting from a change of estimated future contingent payments based on projected revenue of the acquired business affecting the contingent consideration liability will be recorded through noninterest expense. Due to the significant unobservable input related to the projected revenue, the contingent consideration liability is classified within Level 3 of the valuation hierarchy. An increase in the projected revenue may result in a higher fair value of the contingent consideration liability. Alternatively, a decrease in the projected revenue may result in a lower estimated fair value of the contingent consideration liability.

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The following table presents the assets and liabilities measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021, classified using the fair value hierarchy:

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/ Liabilities at Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions	$	—	$	2,312	$	—	$	2,312
Residential mortgage-backed securities	—		256,688		—		256,688
Collateralized mortgage obligations	—		2,947		—		2,947
Corporate bonds	—		88,047		—		88,047
Total available-for-sale securities	—		349,994		—		349,994
Equity securities:
Equity securities - financial services industry	980		—		—		980
Money market mutual funds	1,589		—		—		1,589
Total equity securities	2,569		—		—		2,569
Loans*	—		—		13		13
Loans held for sale	—		14,521		—		14,521
Forward loan sale commitments*	—		806		—		806
Total assets	$	2,569	$	365,321	$	13	$	367,903
Liabilities:
Contingent consideration liability	$	—	$	—	$	1,663	$	1,663
Interest rate swaps*	—		59		—		59
Credit derivatives*	—		—		457		457
Interest rate locks with customers*	—		245		—		245
Total liabilities	$	—	$	304	$	2,120	$	2,424

* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $457 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which was obtained from real-time financial market data, of 126 interest rate swaps with a notional amount of $769.3 million. The March 31, 2022 CVA assumed a zero-deal recovery percentage based on the most recent index credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was $1.6 million, which was calculated using a discount rate of 8.3%. The potential cash payments that could result from the contingent consideration arrangement for the acquisition ranged from $0 to a maximum of $1.9 million over the three-year period ending November 30, 2024.

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	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/ Liabilities at Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions	$	—	$	2,333	$	—	$	2,333
Residential mortgage-backed securities	—		221,105		—		221,105
Collateralized mortgage obligations	—		3,278		—		3,278
Corporate bonds	—		90,291		—		90,291
Total available-for-sale securities	—		317,007		—		317,007
Equity securities:
Equity securities - financial services industry	979		—		—		979
Money market mutual funds	2,020		—		—		2,020
Total equity securities	2,999		—		—		2,999
Loans*	—		—		48		48
Loans held for sale	—		21,600		—		21,600
Interest rate locks with customers*	—		765		—		765
Forward loan sale commitments*	—		87		—		87
Total assets	$	2,999	$	339,459	$	48	$	342,506
Liabilities:
Contingent consideration liability	$	—	$	—	$	1,629	$	1,629
Interest rate swaps*	—		204		—		204
Credit derivatives*	—		—		381		381
Total liabilities	$	—	$	204	$	2,010	$	2,214

* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $381 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which was obtained from real-time financial market data, of 125 interest rate swaps with a notional amount of $755.6 million. The December 31, 2021 CVA assumed a zero-deal recovery percentage based on the most recent index credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was $1.6 million, which was calculated using a discount rate of 8.3%. The potential cash payments that could result from the contingent consideration arrangement for the acquisition ranged from $0 to a maximum of $1.9 million over the three-year period ending November 30, 2024.

The following table includes a roll forward 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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
(Dollars in thousands)	Balance at December 31, 2021		Additions		Payments received		Increase (decrease) in value		Balance at March 31, 2022
Loans	$	48	$	—	$	(35)	$	—	$	13
Credit derivatives	(381)		(526)		—		450		(457)
Net total	$	(333)	$	(526)	$	(35)	$	450	$	(444)

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	Three Months Ended March 31, 2021
(Dollars in thousands)	Balance at December 31, 2020		Additions		Payments received		Increase (decrease) in value		Balance at March 31, 2021
Corporate bonds	$	9,600	$	—	$	—	$	—	$	9,600
Loans	187		—		(33)		(2)		152
Credit derivatives	(535)		(843)		—		1,107		(271)
Net total	$	9,252	$	(843)	$	(33)	$	1,105	$	9,481

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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
(Dollars in thousands)	Balance at December 31, 2021		Payment of Contingent Consideration		Adjustment of Contingent Consideration		Balance at March 31, 2022
Paul I. Sheaffer Insurance Agency	$	1,629	$	—	$	34	$	1,663
Total contingent consideration liability	$	1,629	$	—	$	34	$	1,663

	Three Months Ended March 31, 2021
(Dollars in thousands)	Balance at December 31, 2020		Payment of Contingent Consideration		Adjustment of Contingent Consideration		Balance at March 31, 2021
Girard Partners	$	55	$	29	$	2	$	28
Total contingent consideration liability	$	55	$	29	$	2	$	28

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 March 31, 2022 and December 31, 2021:

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets at Fair Value
Individually analyzed loans held for investment	$	—	$	—	$	29,773	$	29,773
Other real estate owned	—		—		279		279
Total	$	—	$	—	$	30,052	$	30,052

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets at Fair Value
Individually analyzed loans held for investment	$	—	$	—	$	33,118	$	33,118
Other real estate owned	—		—		279		279
Total	$	—	$	—	$	33,397	$	33,397

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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 March 31, 2022 and December 31, 2021. The disclosed fair values are classified using the fair value hierarchy.

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Fair Value		Carrying Amount
Assets:
Cash and short-term interest-earning assets	$	773,781	$	—	$	—	$	773,781	$	773,781
Held-to-maturity securities	—		157,924		—		157,924		166,339
Federal Home Loan Bank, Federal Reserve Bank and other stock	NA		NA		NA		NA		26,330
Net loans and leases held for investment	—		—		5,290,440		5,290,440		5,302,714
Servicing rights	—		—		15,106		15,106		8,122
Total assets	$	773,781	$	157,924	$	5,305,546	$	6,237,251	$	6,277,286
Liabilities:
Deposits:
Demand and savings deposits, non-maturity	$	5,581,657	$	—	$	—	$	5,581,657	$	5,581,657
Time deposits	—		460,580		—		460,580		466,275
Total deposits	5,581,657		460,580		—		6,042,237		6,047,932
Short-term borrowings	—		18,976		—		18,976		18,976
Long-term debt	—		93,343		—		93,343		95,000
Subordinated notes	—		102,250		—		102,250		98,952
Total liabilities	$	5,581,657	$	675,149	$	—	$	6,256,806	$	6,260,860

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Fair Value		Carrying Amount
Assets:
Cash and short-term interest-earning assets	$	890,150	$	—	$	—	$	890,150	$	890,150
Held-to-maturity securities	—		178,402		—		178,402		176,983
Federal Home Loan Bank, Federal Reserve Bank and other stock	NA		NA		NA		NA		28,186
Net loans and leases held for investment	—		—		5,244,504		5,244,504		5,204,927
Servicing rights	—		—		11,331		11,331		7,878
Total assets	$	890,150	$	178,402	$	5,255,835	$	6,324,387	$	6,308,124
Liabilities:
Deposits:
Demand and savings deposits, non-maturity	$	5,570,958	$	—	$	—	$	5,570,958	$	5,570,958
Time deposits	—		487,874		—		487,874		484,166
Total deposits	5,570,958		487,874		—		6,058,832		6,055,124
Short-term borrowings	—		20,106		—		20,106		20,106
Long-term debt	—		95,707		—		95,707		95,000
Subordinated notes	—		107,000		—		107,000		98,874
Total liabilities	$	5,570,958	$	710,687	$	—	$	6,281,645	$	6,269,104

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The following valuation methods and assumptions were used by the Corporation in estimating the fair value for financial instruments measured at fair value on a non-recurring basis and financial instruments 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:

Cash and short-term interest-earning assets: The carrying amounts reported in the balance sheet for cash and due from banks, interest-earning deposits with other banks and other short-term investments is their stated value. Cash and short-term interest-earning assets are classified within Level 1 in the fair value hierarchy.

Held-to-maturity securities: Fair values for the held-to-maturity investment securities are estimated by using pricing models or quoted prices of securities with similar characteristics and are classified in Level 2 in the fair value hierarchy.

Federal Home Loan Bank, Federal Reserve Bank and other stock: It is not practical to determine the fair values of Federal Home Loan Bank, Federal Reserve Bank and other stock, due to restrictions placed on their transferability.

Loans held for sale: Loans held for sale are carried at the lower of cost or estimated fair value. The fair value of the Corporation’s mortgage loans held for sale are generally determined using a pricing model based on current market information obtained from external sources, including interest rates, bids or indications provided by market participants on specific loans that are actively marketed for sale. These loans are primarily residential mortgage loans and are generally classified in Level 2 due to the observable pricing data.

Loans and leases held for investment: The fair values for loans and leases held for investment are estimated using discounted cash flow analyses, using a discount rate based on current interest rates at which similar loans with similar terms would be made to borrowers, adjusted as appropriate to consider credit, liquidity and marketability factors to arrive at a fair value that represents the Corporation's exit price at which these instruments would be sold or transferred. Loans and leases are classified within Level 3 in the fair value hierarchy since credit risk is not an observable input.

Individually analyzed loans and leases held for investment: For individually analyzed loans and leases, the Corporation uses a variety of techniques to measure fair value, such as using the current appraised value of the collateral, agreements of sale, discounting the contractual cash flows, and analyzing market data that the Corporation may adjust due to specific characteristics of the loan/lease or collateral. At March 31, 2022, individually analyzed loans held for investment had a carrying amount of $30.7 million with a valuation allowance of $954 thousand. At December 31, 2021, individually analyzed loans held for investment had a carrying amount of $33.1 million with a valuation allowance of $11 thousand. The Corporation had no individually analyzed leases at March 31, 2022 or December 31, 2021.

Servicing rights: The Corporation estimates the fair value of servicing rights using discounted cash flow models that calculate the present value of estimated future net servicing income. The model uses readily available prepayment speed assumptions for the interest rates of the portfolios serviced. Servicing rights are classified within Level 3 in the fair value hierarchy based upon management's assessment of the inputs. The Corporation reviews the servicing rights portfolio on a quarterly basis for impairment and the servicing rights are carried at the lower of amortized cost or estimated fair value. At March 31, 2022, servicing rights had a net carrying amount of $8.1 million, which included a valuation allowance of $7 thousand. At December 31, 2021, servicing rights had a net carrying amount of $7.9 million, which included a valuation allowance of $13 thousand.

Goodwill and other identifiable assets: Certain non-financial assets subject to measurement at fair value on a non-recurring basis include goodwill and other identifiable intangible assets. During the three months ended March 31, 2022, there were no required valuation adjustments of goodwill and other identifiable intangible assets.

Other real estate owned: Other real estate owned (OREO) represents properties that the Corporation has acquired through foreclosure by either accepting a deed in lieu of foreclosure, or by taking possession of assets that were used as loan collateral. The Corporation reports OREO at the lower of cost or fair value less cost to sell, adjusted periodically based on a current appraisal or an executed agreement of sale. Capital improvement expenses associated with the construction or repair of the property are capitalized as part of the cost of the OREO asset. Write-downs and any gain or loss upon the sale of OREO is recorded in other noninterest income. OREO is reported in other assets on the condensed consolidated balance sheet. At March 31, 2022 and December 31, 2021, OREO had a carrying amount of $279 thousand. Other real estate owned is classified within Level 3 of the valuation hierarchy due to the unique characteristics of the collateral for each loan.

Deposit liabilities: The fair values for demand and savings accounts, with no stated maturities, is the amount payable on demand at the reporting date (carrying value) and are classified within Level 1 in the fair value hierarchy. The fair values for

38

time deposits with fixed maturities are estimated by discounting the final maturity using interest rates currently offered for deposits with similar remaining maturities. Time deposits are classified within Level 2 in the fair value hierarchy.

Short-term borrowings: The fair value of short-term borrowings are estimated using current market rates for similar borrowings and are classified within Level 2 in the fair value hierarchy.

Long-term debt: The fair value of long-term debt is estimated by using discounted cash flow analysis, based on current market rates for debt with similar terms and remaining maturities. Long-term debt is classified within Level 2 in the fair value hierarchy.

Subordinated notes: The fair value of the subordinated notes are estimated by discounting the principal balance using the treasury yield curve for the term to the call date as the Corporation has the option to call the subordinated notes. The subordinated notes are classified within Level 2 in the fair value hierarchy.

Note 13. Segment Reporting

At March 31, 2022, the Corporation had three reportable business segments: Banking, Wealth Management and Insurance. The Corporation determines the segments based primarily upon product and service offerings, through the types of income generated and the regulatory environment. This is strategically how the Corporation operates and has positioned itself in the marketplace. Accordingly, significant operating decisions are based upon analysis of each of these segments. The parent holding company and intercompany eliminations are included in the "Other" segment.

Each segment generates revenue from a variety of products and services it provides. Examples of products and services provided for each reportable segment are indicated as follows:

● The Banking segment provides financial services to individuals, businesses, municipalities and nonprofit organizations. These services include a full range of banking services such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing.

● The Wealth Management segment offers investment advisory, financial planning, trust and brokerage services. The Wealth Management segment serves a diverse client base of private families and individuals, municipal pension plans, retirement plans, trusts and guardianships.

● The Insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, employee benefit solutions, personal insurance lines and human resources consulting.

The following table provides total assets by reportable business segment as of the dates indicated.

(Dollars in thousands)	At March 31, 2022		At December 31, 2021		At March 31, 2021
Banking	$	6,997,081	$	7,005,952	$	6,313,108
Wealth Management	53,174		54,076		48,016
Insurance	42,240		40,649		37,075
Other	15,245		21,744		18,466
Consolidated assets	$	7,107,740	$	7,122,421	$	6,416,665

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The following tables provide reportable segment-specific information and reconciliations to consolidated financial information for the three months ended March 31, 2022 and 2021.

	Three Months Ended
	March 31, 2022
(Dollars in thousands)	Banking		Wealth Management		Insurance		Other		Consolidated
Interest income	$	51,189	$	1	$	—	$	8	$	51,198
Interest expense	3,180		30		—		1,328		4,538
Net interest income (expense)	48,009		(29)		—		(1,320)		46,660
Reversal of provision for credit losses	(3,450)		—		—		—		(3,450)
Noninterest income	7,370		7,305		5,764		31		20,470
Noninterest expense	36,488		4,709		3,865		350		45,412
Intersegment (revenue) expense*	(433)		211		222		—		—
Income (loss) before income taxes	22,774		2,356		1,677		(1,639)		25,168
Income tax expense (benefit)	4,543		492		358		(542)		4,851
Net income (loss)	$	18,231	$	1,864	$	1,319	$	(1,097)	$	20,317
Net capital expenditures	$	(5,592)	$	63	$	15	$	20	$	(5,494)

	Three Months Ended
	March 31, 2021
(Dollars in thousands)	Banking		Wealth Management		Insurance		Other		Consolidated
Interest income	$	51,449	$	—	$	—	$	8	$	51,457
Interest expense	3,719		31		—		2,293		6,043
Net interest income (expense)	47,730		(31)		—		(2,285)		45,414
Reversal of provision for credit losses	(11,283)		—		—		—		(11,283)
Noninterest income	11,230		6,773		5,105		142		23,250
Noninterest expense	30,601		4,086		3,304		1,549		39,540
Intersegment (revenue) expense*	(323)		164		159		—		—
Income (loss) before income taxes	39,965		2,492		1,641		(3,692)		40,407
Income tax expense (benefit)	8,255		514		351		(1,316)		7,804
Net income (loss)	$	31,710	$	1,978	$	1,290	$	(2,376)	$	32,603
Net capital expenditures	$	1,111	$	5	$	9	$	62	$	1,187

*Includes an allocation of general and administrative expenses from both the parent holding company and the Bank. These expenses are generally allocated based upon number of employees and square footage utilized.

Note 14. Contingencies

The Corporation is periodically subject to various pending and threatened legal actions, which involve claims for monetary relief. Based upon information presently available to the Corporation, it is the Corporation's opinion that any legal and financial responsibility arising from such claims will not have a material adverse effect on the Corporation's results of operations, financial position or cash flows.

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Item 2.     Management’s Discussion and Analysis of Financial Condition and Results of Operations

(All dollar amounts presented in tables are in thousands, except per share data. “BP” equates to “basis points”; "NM" equates to “not meaningful”; “—” equates to “zero” or “doesn’t round to a reportable number”; and “N/A” equates to “not applicable.” Certain prior period amounts have been reclassified to conform to the current-year presentation.)

Forward-Looking Statements

The information contained in this report may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words "believe" "anticipate," "estimate," "expect," "project," "target," "goal" and similar expressions are intended to identify forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include but are not limited to: statements of our goals, intentions and expectations; statements regarding our business plans, prospects, growth and operating strategies; statements regarding the quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to certain risks, uncertainties and assumptions, including but not limited to those set forth below:

•Operating, legal and regulatory risks;

•Economic, political and competitive forces;

•Legislative, regulatory and accounting changes;

•Demand for our financial products and services in our market area;

•Major catastrophes such as earthquakes, floods or other natural or human disasters and infectious disease outbreaks, including the current coronavirus (COVID-19) pandemic, the related disruption to local, regional and global economic activity and financial markets, and the impact that any of the foregoing may have on us and our customers and other constituencies;

•Inflation or volatility in interest rates;

•Fluctuations in real estate values in our market area;

•The composition and credit quality of our loan and investment portfolios;

•Changes in the level and direction of loan delinquencies, classified and criticized loans and charge-offs and changes in estimates of the adequacy of the allowance for credit losses;

•Economic assumptions utilized to calculate the allowance for credit losses;

•Our ability to access cost-effective funding;

•Our ability to implement our business strategies;

•Our ability to manage market risk, credit risk and operational risk;

•Timing and amount of revenue and expenditures;

•Adverse changes in the securities markets;

•The anticipated impact of any military conflict, terrorist act or other geopolitical acts;

•Our ability to enter new markets successfully and capitalize on growth opportunities;

•Competition for loans, deposits and employees;

•System failures or cyber-security breaches of our information technology infrastructure and those of our third-party service providers;

•The failure to maintain current technologies and/or to successfully implement future information technology enhancements;

•Our ability to retain key employees;

•Other risks and uncertainties, including those occurring in the U.S. and world financial systems; and

•The risk that our analysis of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

Given the ongoing and dynamic nature of the COVID-19 pandemic, it is difficult to predict the continued impact of the COVID-19 pandemic on our business. The extent of such impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and abated. As a result of the COVID-19 pandemic and the related adverse local and national economic consequences, our forward-looking statements are also subject to the following risks, uncertainties and assumptions:

•Demand for our products and services may decline;

•If the economy worsens, loan delinquencies, problem assets, and foreclosures may increase;

•Collateral for loans, especially real estate, may decline in value;

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•Our allowance for credit losses on loans and leases may have to be increased if economic conditions worsen or borrowers experience financial difficulties;

•The net worth and liquidity of loan guarantors may decline, impairing their ability to honor commitments to us;

•A material decrease in net income or a net loss over several quarters could result in the elimination of or a decrease in the rate of our quarterly cash dividend;

•Our wealth management revenues may decline with market turmoil;

•Our cyber security risks are increased as the result of an increase in the number of employees working remotely; and

•FDIC premiums may increase if the agency experiences additional resolution costs.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, expected or projected. These and other risk factors are more fully described in this report and in the Univest Financial Corporation Annual Report on Form 10-K for the year ended December 31, 2021 under the section entitled "Item 1A - Risk Factors," and from time to time in other filings made by the Corporation with the SEC.

These forward-looking statements speak only at the date of the report. The Corporation expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Corporation’s expectations with regard to any change in events, conditions or circumstances on which any such statement is based.

Critical Accounting Policies

Management, in order to prepare the Corporation’s financial statements in conformity with U.S. generally accepted accounting principles, is required to make estimates and assumptions that affect the amounts reported in the Corporation’s financial statements. There are uncertainties inherent in making these estimates and assumptions. Certain critical accounting policies could materially affect the results of operations and financial position of the Corporation should changes in circumstances require a change in related estimates or assumptions. The Corporation has identified the fair value measurement of investment securities available-for-sale and the calculation of the allowance for credit losses on loans and leases as critical accounting policies. For more information on these critical accounting policies, please refer to the Corporation’s 2021 Annual Report on Form 10-K.

General

The Corporation is a Pennsylvania corporation, organized in 1973 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956. The Corporation owns all of the capital stock of Univest Bank and Trust Co. The consolidated financial statements include the accounts of the Corporation, the Bank and its subsidiaries.

The Bank is engaged in domestic banking services for individuals, businesses, municipalities and non-profit organizations. Through its wholly-owned subsidiaries, the Bank provides a variety of financial services throughout its markets of operation. The Bank is the parent company of Girard Investment Services, LLC, a full-service registered introducing broker-dealer and a licensed insurance agency, Girard Advisory Services, LLC, a registered investment advisory firm, and Girard Pension Services, LLC, a registered investment advisor, which provides investment consulting and management services to municipal entities. The Bank is also the parent company of Univest Insurance, LLC, an independent insurance agency and Univest Capital, Inc., an equipment financing business.

The Corporation earns revenue primarily from the margins and fees generated from lending and depository services as well as fee-based income from trust, insurance, mortgage banking and investment services. The Corporation seeks to achieve adequate and reliable earnings through business growth while maintaining adequate levels of capital and liquidity and limiting exposure to credit and interest rate risk.

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Executive Overview

The Corporation’s consolidated net income, earnings per share and return on average assets and average equity were as follows:

	Three Months Ended
	March 31,						Change
(Dollars in thousands, except per share data)	2022			2021			Amount		Percent
Net income	$	20,317		$	32,603		$	(12,286)	(37.7)	%
Net income per share:
Basic	$	0.69		$	1.11		$	(0.42)	(37.8)
Diluted	0.68			1.11			(0.43)		(38.7)
Return on average assets	1.17		%	2.07		%	(90 BP)		(43.5)
Return on average equity	10.64		%	18.90		%	(826 BP)		(43.7)

The Corporation reported net income of $20.3 million, or $0.68 diluted earnings per share, for the three months ended March 31, 2022, compared to net income of $32.6 million, or $1.11 diluted earnings per share, for the three months ended March 31, 2021.

During the three months ended March 31, 2022, the Corporation recorded a reversal of provision for credit losses of $3.5 million, of which $5.7 million (after-tax benefit of $4.5 million), or $0.15 diluted earnings per share, was attributable to favorable changes in economic-related assumptions within the Corporation's CECL model, partially offset by increases in reserves for loans, unfunded commitments and investment securities. The reversal of provision for credit losses for the three months ended March 31, 2021 was $11.3 million, of which $12.9 million (after-tax benefit of $10.2 million), or $0.35 diluted earnings per share, was attributable to favorable changes in economic-related assumptions within the Corporation’s CECL model partially offset by a reserve increase attributable to loan growth.

As of March 31, 2022, $10.3 million in PPP loan originations remained outstanding. During the first quarter of 2022, $591 thousand was recorded as net interest income related to these loans, of which $552 thousand was the result of recognition of associated net deferred loan fees upon forgiveness and pay downs of PPP loans totaling $22.0 million. As of March 31, 2022, the Corporation had $272 thousand of net deferred fees on the balance sheet related to PPP loans, which represented approximately 1.5% of the initial deferred fee amount.

Results of Operations

Net Interest Income

Net interest income is the difference between interest earned on loans and leases and investment securities and interest paid on deposits and borrowings. Net interest income is the principal source of the Corporation’s revenue. Table 1 presents the Corporation’s average balances, tax-equivalent interest income, interest expense, tax-equivalent yields earned on average assets, cost of average liabilities, and shareholders’ equity on a tax-equivalent basis for the three months ended March 31, 2022 and 2021. The tax-equivalent net interest margin is tax-equivalent net interest income as a percentage of average interest-earning assets. The tax-equivalent net interest spread represents the weighted average tax-equivalent yield on interest-earning assets less the weighted average cost of interest-bearing liabilities. The effect of net interest-free funding sources represents the effect on the net interest margin of net funding provided by noninterest-earning assets, noninterest-bearing liabilities and shareholders’ equity. Table 2 analyzes the changes in the tax-equivalent net interest income for the periods broken down by their rate and volume components.

Three months ended March 31, 2022 versus 2021

Net interest income on a tax-equivalent basis for the three months ended March 31, 2022 was $47.2 million, an increase of $1.2 million, or 2.6%, compared to $46.0 million for the three months ended March 31, 2021. The increase in tax-equivalent net interest income for the three months ended March 31, 2022 compared to the comparable period in the prior year was due to loan and investment balance growth outpacing declines in yield on interest-bearing assets and a decrease in the cost of interest-bearing liabilities, offset by a decrease in PPP loan income.

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The net interest margin, on a tax-equivalent basis, was 2.89% for the three months ended March 31, 2022 compared to 3.12% for the three months ended March 31, 2021. Excess liquidity reduced the net interest margin by approximately 33 basis points for the three months ended March 31, 2022 compared to eleven basis points for the three months ended March 31, 2021. This excess liquidity was primarily driven by strong growth of deposit balances since the beginning of the COVID-19 pandemic, primarily due to the various pandemic-related stimulus initiatives. PPP loans had a favorable impact on net interest margin of three and four basis points for the three months ended March 31, 2022 and March 31, 2021, respectively. As PPP loans are forgiven, the associated deferred fees are recognized in earnings, which occurred with greater frequency in 2021 as compared to 2022. Excluding the impact of excess liquidity and PPP loans, the net interest margin, on a tax-equivalent basis, was 3.19% for the three months ended March 31, 2022 and 2021.

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Table 1—Average Balances and Interest Rates—Tax-Equivalent Basis

	Three Months Ended March 31,
	2022							2021
(Dollars in thousands)	Average Balance			Income/ Expense		Average Rate		Average Balance			Income/ Expense		Average Rate
Assets:
Interest-earning deposits with other banks	$	733,173		$	357	0.20	%	$	237,548		$	56	0.10	%
U.S. government obligations	5,222			26		2.02		6,998			36		2.09
Obligations of states and political subdivisions*	2,332			19		3.30		11,544			105		3.69
Other debt and equity securities	514,574			2,339		1.84		355,827			1,267		1.44
Federal Home Loan Bank, Federal Reserve Bank and other stock	27,115			355		5.31		26,368			348		5.35
Total interest-earning deposits, investments and other interest-earning assets	1,282,416			3,096		0.98		638,285			1,812		1.15
Commercial, financial and agricultural loans	901,555			7,571		3.41		782,208			6,798		3.52
Paycheck Protection Program loans	18,402			591		13.02		506,939			4,524		3.62
Real estate—commercial and construction loans	2,904,602			25,820		3.61		2,621,981			24,458		3.78
Real estate—residential loans	1,116,356			9,882		3.59		1,037,000			9,873		3.86
Loans to individuals	25,799			238		3.74		26,447			265		4.06
Municipal loans and leases*	242,508			2,434		4.07		245,638			2,530		4.18
Lease financings	135,476			2,075		6.21		105,684			1,737		6.67
Gross loans and leases	5,344,698			48,611		3.69		5,325,897			50,185		3.82
Total interest-earning assets	6,627,114			51,707		3.16		5,964,182			51,997		3.54
Cash and due from banks	53,698							55,311
Allowance for credit losses, loans and leases	(72,067)							(83,254)
Premises and equipment, net	53,948							55,826
Operating lease right-of-use assets	30,394							34,033
Other assets	354,893							357,365
Total assets	$	7,047,980						$	6,383,463
Liabilities:
Interest-bearing checking deposits	$	881,462		$	443	0.20		$	817,940		$	490	0.24
Money market savings	1,542,581			904		0.24		1,243,673			853		0.28
Regular savings	1,021,550			238		0.09		959,232			298		0.13
Time deposits	473,589			1,306		1.12		525,800			1,759		1.36
Total time and interest-bearing deposits	3,919,182			2,891		0.30		3,546,645			3,400		0.39
Short-term borrowings	17,636			2		0.05		17,894			2		0.05
Long-term debt	95,000			317		1.35		101,333			348		1.39
Subordinated notes	98,911			1,328		5.45		183,340			2,293		5.07
Total borrowings	211,547			1,647		3.16		302,567			2,643		3.54
Total interest-bearing liabilities	4,130,729			4,538		0.45		3,849,212			6,043		0.64
Noninterest-bearing deposits	2,065,633							1,749,502
Operating lease liabilities	33,452							37,415
Accrued expenses and other liabilities	43,808							47,598
Total liabilities	6,273,622							5,683,727
Shareholders’ Equity:
Common stock	157,784							157,784
Additional paid-in capital	298,975							296,136
Retained earnings and other equity	317,599							245,816
Total shareholders’ equity	774,358							699,736
Total liabilities and shareholders’ equity	$	7,047,980						$	6,383,463
Net interest income				$	47,169						$	45,954
Net interest spread						2.71							2.90
Effect of net interest-free funding sources						0.18							0.22
Net interest margin						2.89	%						3.12	%
Ratio of average interest-earning assets to average interest-bearing liabilities	160.43		%					154.95		%

*Obligations of states and political subdivisions and municipal loans and leases are tax-exempt earning assets.

Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.

Net interest income includes net deferred (costs) fees of $(136) thousand and $2.3 million for the three months ended March 31, 2022 and 2021, respectively.

Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the three months ended March 31, 2022 and 2021 have been calculated using the Corporation's federal applicable rate of 21%.

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Table 2—Analysis of Changes in Net Interest Income

The rate-volume variance analysis set forth in the table below compares changes in tax-equivalent net interest income for the periods indicated by their rate and volume components. The change in interest income/expense due to both volume and rate has been allocated proportionately.

	Three Months Ended
	March 31, 2022 Versus 2021
(Dollars in thousands)	Volume Change		Rate Change		Total
Interest income:
Interest-earning deposits with other banks	$	203	$	98	$	301
U.S. government obligations	(9)		(1)		(10)
Obligations of states and political subdivisions	(76)		(10)		(86)
Other debt and equity securities	661		411		1,072
Federal Home Loan Bank, Federal Reserve Bank and other stock	10		(3)		7
Interest on deposits, investments and other earning assets	789		495		1,284
Commercial, financial and agricultural loans	994		(221)		773
Paycheck Protection Program loans	(7,426)		3,493		(3,933)
Real estate—commercial and construction loans	2,512		(1,150)		1,362
Real estate—residential loans	726		(717)		9
Loans to individuals	(6)		(21)		(27)
Municipal loans and leases	(31)		(65)		(96)
Lease financings	464		(126)		338
Interest and fees on loans and leases	(2,767)		1,193		(1,574)
Total interest income	(1,978)		1,688		(290)
Interest expense:
Interest-bearing checking deposits	37		(84)		(47)
Money market savings	186		(135)		51
Regular savings	23		(83)		(60)
Time deposits	(163)		(290)		(453)
Total time and interest-bearing deposits	83		(592)		(509)
Long-term debt	(21)		(10)		(31)
Subordinated notes	(1,126)		161		(965)
Interest on borrowings	(1,147)		151		(996)
Total interest expense	(1,064)		(441)		(1,505)
Net interest income	$	(914)	$	2,129	$	1,215

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Provision for Credit Losses

The reversal of the provision for credit losses for the three months ended March 31, 2022 was $3.5 million, of which $5.7 million (after-tax benefit of $4.5 million) was attributable to favorable changes in economic-related assumptions within the Corporation's CECL model, partially offset by increases in reserves for loans, unfunded commitments and investment securities. The reversal of the provision for credit losses for the three months ended March 31, 2021 was $11.3 million, of which $12.9 million (after-tax benefit of $10.2 million) was attributable to favorable changes in economic-related assumptions within the Corporation's CECL model partially offset by a reserve increase attributable to loan growth.

Noninterest Income

The following table presents noninterest income for the three months ended March 31, 2022 and 2021:

	Three Months Ended
	March 31,				Change
(Dollars in thousands)	2022		2021		Amount		Percent
Trust fee income	$	2,102	$	2,034	$	68	3.3	%
Service charges on deposit accounts	1,504		1,282		222		17.3
Investment advisory commission and fee income	5,152		4,697		455		9.7
Insurance commission and fee income	5,570		4,955		615		12.4
Other service fee income	2,756		2,192		564		25.7
Bank owned life insurance income	699		717		(18)		(2.5)
Net gain on sales of investment securities	30		65		(35)		(53.8)
Net gain on mortgage banking activities	1,929		5,938		(4,009)		(67.5)
Other income	728		1,370		(642)		(46.9)
Total noninterest income	$	20,470	$	23,250	$	(2,780)	(12.0	%)

Three months ended March 31, 2022 versus 2021

Noninterest income for the three months ended March 31, 2022 was $20.5 million, a decrease of $2.8 million, or 12.0%, from the three months ended March 31, 2021.

The net gain on mortgage banking activities decreased $4.0 million, or 67.5%, for the three months ended March 31, 2022 from the comparable period in the prior year. The decrease for the three months ended March 31, 2022 was primarily due to a decrease in loan sales and a contraction of margins. Other income decreased $642 thousand, or 46.9%, for the three months ended March 31, 2022 from the comparable period in the prior year, primarily due to a decrease of $657 thousand in fees on risk participation agreements for interest rate swaps driven by a decrease in customer demand.

Investment advisory commission and fee income increased $455 thousand, or 9.7%, for the three months ended March 31, 2022 from the comparable period in the prior year, primarily due to new customer relationships and appreciation of assets under management, as a majority of investment advisory fees are billed based on the prior quarter-end assets under management balance. Insurance commission and fee income increased $615 thousand, or 12.4%, for the three months ended March 31, 2022 from the comparable period in the prior year, primarily due to incremental revenue attributable to the insurance agency the Corporation acquired in the fourth quarter of 2021.

Other service fee income increased $564 thousand, or 25.7%, for the three months ended March 31, 2022 from the comparable period in the prior year. Interchange fee income increased $176 thousand for the three months ended March 31, 2022 from the comparable period in the prior year, due to increased customer activity. Mortgage servicing fees increased $262 thousand for the three months ended March 31, 2022 from the comparable period in the prior year, driven by reduced amortization as a result of a decrease in prepayment speeds.

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Noninterest Expense

The following table presents noninterest expense for the three months ended March 31, 2022 and 2021:

	Three Months Ended
	March 31,				Change
(Dollars in thousands)	2022		2021		Amount		Percent
Salaries, benefits and commissions	$	28,245	$	24,780	$	3,465	14.0	%
Net occupancy	2,716		2,739		(23)		(0.8)
Equipment	982		946		36		3.8
Data processing	3,567		3,050		517		17.0
Professional fees	2,138		1,748		390		22.3
Marketing and advertising	425		280		145		51.8
Deposit insurance premiums	893		636		257		40.4
Intangible expenses	341		249		92		36.9
Other expense	6,105		5,112		993		19.4
Total noninterest expense	$	45,412	$	39,540	$	5,872	14.9	%

Three months ended March 31, 2022 versus 2021

Noninterest expense for the three months ended March 31, 2022 was $45.4 million, an increase of $5.9 million, or 14.9%, from the three months ended March 31, 2021.

Salaries, benefits and commissions increased $3.5 million, or 14.0%, for the three months ended March 31, 2022 from the comparable period in the prior year. These increases reflect our continued investment in revenue producing staff across all business lines, including the acquisition of the Paul I. Sheaffer insurance agency, and annual merit increases. Additionally, during the three months ended March 31, 2022, we incurred $387 thousand of short-term incremental guaranties related to the hiring of new producers in our Mortgage Banking line of business. Finally, the three months ended March 31, 2022 was benefited by $582 thousand of incremental capitalized compensation related to the origination of PPP loans.

Data processing expenses increased $517 thousand, or 17.0%, for the three months ended March 31, 2022 from the comparable period in the prior year, primarily due to continued investments in our end-to-end loan origination solution for loans below $1.0 million, customer relationship management software, internal infrastructure improvements, outsourced data processing solutions, and our digital transformation initiative.

Professional fees increased $390 thousand, or 22.3%, for the three months ended March 31, 2022 from the comparable period in the prior year, primarily attributable to $658 thousand in consultant fees spent in support of our digital transformation initiative, as compared to our $276 thousand investment in support of our Diversity, Equity and Inclusion training initiatives during the three months ended March 31, 2021. Deposit insurance premiums increased $257 thousand, or 40.4%, for the three months ended March 31, 2022 from the comparable period in the prior year, attributable to an increased assessment base primarily driven by excess liquidity.

Other expense increased $993 thousand, or 19.4%, for the three months ended March 31, 2022 from the comparable period in the prior year, driven by increases in recruiting costs of $282 thousand due to increased hiring activity and travel and entertainment expenses of $265 thousand, which have begun to normalize as the markets we operate in continue to remain open. Additionally, we incurred costs of $330 thousand as a result of a customer who was defrauded.

Tax Provision

The Corporation recognized a tax expense of $4.9 million and $7.8 million for the three months ended March 31, 2022 and 2021, respectively, resulting in an effective rate of 19.3% for both periods. The effective tax rates for the three months ended March 31, 2022 and 2021 were favorably impacted by eight and four basis points, respectively, of discrete tax benefits resulting from equity compensation awards vesting in the respective quarters. Additionally, the effective tax rates for the three months ended March 31, 2022 and 2021 reflected the benefits of tax-exempt income from investments in municipal securities and loans and leases.

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Financial Condition

Assets

The following table presents assets at the dates indicated:

	At March 31, 2022		At December 31, 2021		Change
(Dollars in thousands)					Amount		Percent
Cash and cash equivalents	$	773,781	$	890,150	$	(116,369)	(13.1	%)
Investment securities, net of allowance for credit losses	518,902		496,989		21,913		4.4
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost	26,330		28,186		(1,856)		(6.6)
Loans held for sale	14,521		21,600		(7,079)		(32.8)
Loans and leases held for investment	5,400,786		5,310,017		90,769		1.7
Allowance for credit losses, loans and leases	(68,286)		(71,924)		3,638		(5.1)
Premises and equipment, net	50,429		56,882		(6,453)		(11.3)
Operating lease right-of-use assets	30,498		30,407		91		0.3
Goodwill and other intangibles, net	187,294		187,358		(64)		—
Bank owned life insurance	119,398		118,699		699		0.6
Accrued interest receivable and other assets	54,087		54,057		30		0.1
Total assets	$	7,107,740	$	7,122,421	$	(14,681)	(0.2	%)

Cash and Interest-Earning Deposits

Cash and interest-earning deposits decreased $116.4 million, or 13.1%, from December 31, 2021, primarily due to decreased interest earning deposits at the Federal Reserve Bank of $120.4 million as the Corporation used excess liquidity to fund securities and loan growth.

Investment Securities

Total investment securities at March 31, 2022 increased $21.9 million, or 4.4%, from December 31, 2021. Purchases of $69.6 million, primarily residential mortgage-backed securities, were partially offset by maturities and pay-downs of $22.8 million, decreases in the fair value of available-for-sale investment securities of $20.1 million, sales of $4.0 million, net amortization of purchased premiums and discounts of $491 thousand and a provision for credit losses of $346 thousand.

Loans and Leases

Gross loans and leases held for investment increased $90.8 million, or 1.7%, from December 31, 2021. Gross loans and leases held for investment, excluding PPP loans, at March 31, 2022 increased $112.2 million or 2.1% from December 31, 2021. The growth in gross loans and leases held for investment, excluding PPP loans, was primarily due to increases in commercial real estate and residential mortgage loans.

Asset Quality

The Bank's strategy for credit risk management focuses on having well-defined credit policies and uniform underwriting criteria and providing prompt attention to potential problem loans and leases. Performance of the loan and lease portfolio is monitored on a regular basis by Bank management and lending officers.

Nonaccrual loans and leases and accruing troubled debt restructured loans are loans or leases for which it is probable that not all principal and interest payments due will be collectible in accordance with the original contractual terms. Factors considered by management in determining accrual status include payment status, borrower cash flows, collateral value and the probability of collecting scheduled principal and interest payments when due.

At March 31, 2022, nonaccrual loans and leases and accruing troubled debt restructured loans were $30.9 million and had a related allowance for credit losses on loans and leases of $954 thousand. At December 31, 2021, nonaccrual loans and leases and accruing troubled debt restructured loans were $33.3 million and had a related allowance for credit losses on loans and

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leases of $11 thousand. Individual reserves have been established based on current facts and management's judgements about the ultimate outcome of these credits, including the most recent known data available on any related underlying collateral and the borrower's cash flows. The amount of individual reserve needed for these credits could change in future periods subject to changes in facts and judgements related to these credits.

Net loan and lease charge-offs for the three months ended March 31, 2022 were $76 thousand compared to $288 thousand for the same period in the prior year.

Other real estate owned was $279 thousand at March 31, 2022 and December 31, 2021.

Table 3—Nonaccrual and Past Due Loans and Leases; Troubled Debt Restructured Loans and Lease Modifications; Other Real Estate Owned; and Related Ratios

The following table details information pertaining to the Corporation’s nonperforming assets at the dates indicated.

(Dollars in thousands)	At March 31, 2022			At December 31, 2021
Nonaccrual loans and leases, including nonaccrual troubled debt restructured loans and lease modifications*	$	30,876		$	33,210
Accruing troubled debt restructured loans and lease modifications not included in the above	51			51
Accruing loans and leases, 90 days or more past due	274			498
Total nonperforming loans and leases	$	31,201		$	33,759
Other real estate owned	279			279
Total nonperforming assets	$	31,480		$	34,038
*Nonaccrual troubled debt restructured loans and lease modifications in nonaccrual loans and leases in the above table	$	830		$	758
Loans and leases held for investment	$	5,400,786		$	5,310,017
Allowance for credit losses, loans and leases	68,286			71,924
Allowance for credit losses, loans and leases / loans and leases held for investment	1.26		%	1.35		%
Nonaccrual loans and leases (including nonaccrual troubled debt restructured loans and lease modifications) / loans and leases held for investment	0.57		%	0.63		%
Allowance for credit losses, loans and leases / nonaccrual loans and leases	221.16		%	216.57		%

The following table provides additional information on the Corporation’s nonaccrual loans held for investment:

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
Total nonaccrual loans and leases, including nonaccrual troubled debt restructured loans and lease modifications	$	30,876	$	33,210
Nonaccrual loans and leases with partial charge-offs	1,417		1,429
Life-to-date partial charge-offs on nonaccrual loans and leases	534		536
Specific reserves on individually analyzed loans	954		11

The Corporation modified certain loans and leases via principal and/or interest deferrals in accordance with Section 4013 of the CARES Act, the Consolidated Appropriations Act, 2021 and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus and have not categorized these modifications as troubled debt restructurings. As of March 31, 2022, there were four loan modifications outstanding with principal balances totaling $2.7 million, which represented approximately 0.1% of the loan portfolio, excluding PPP loans. As of December 31, 2021, there were nine loan and lease modifications outstanding with principal balances totaling $6.2 million, which represented approximately 0.1% of the loan portfolio, excluding PPP loans. See Table 4 below for a breakdown of these loans by industry.

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Table 4—Loan Concentration

The following table provides summarized detail related to outstanding commercial loan balances, excluding PPP loans, segmented by industry description, and certain loan modifications segmented by industry description for commercial loans and segmented by loan category for other loan types as of March 31, 2022:

(Dollars in thousands)	As of March 31, 2022
Industry Description	Total Outstanding Balance (excl PPP)		% of Commercial Loan Portfolio		$ Balance of Modified Loans (1)		Modified Loans as a % of Portfolio (excl PPP) (1)
CRE - Retail	$	359,125	8.1	%	$	—	—	%
Animal Production	310,747		7.0		—		—
CRE - Multi-family	244,480		5.5		—		—
CRE - 1-4 Family Residential Investment	234,653		5.3		—		—
CRE - Office	231,125		5.2		—		—
Hotels & Motels (Accommodation)	186,497		4.2		1,437		0.8
Nursing and Residential Care Facilities	168,896		3.8		—		—
CRE - Industrial / Warehouse	160,318		3.6		—		—
Education	151,238		3.4		—		—
Specialty Trade Contractors	133,455		3.0		—		—
CRE - Mixed-Use - Residential	116,479		2.6		—		—
CRE - Medical Office	108,836		2.4		—		—
Homebuilding (tract developers, remodelers)	101,112		2.3		—		—
Merchant Wholesalers, Durable Goods	93,073		2.1		—		—
Motor Vehicle and Parts Dealers	89,723		2.0		—		—
Crop Production	85,886		1.9		—		—
Food Manufacturing	78,597		1.8		—		—
Wood Product Manufacturing	77,165		1.7		—		—
Rental and Leasing Services	72,878		1.6		—		—
Food Services and Drinking Places	71,327		1.6		473		0.7
Administrative and Support Services	69,578		1.6		—		—
Merchant Wholesalers, Nondurable Goods	64,564		1.5		—		—
Personal and Laundry Services	61,402		1.4		—		—
Fabricated Metal Product Manufacturing	60,398		1.4		—		—
Religious Organizations, Advocacy Groups	56,869		1.3		—		—
Miniwarehouse / Self-Storage	54,382		1.2		—		—
Repair and Maintenance	53,267		1.2		—		—
Industries with >$50 million in outstandings	$	3,496,070	78.6	%	$	1,910	0.1	%
Industries with <$50 million in outstandings	$	950,721	21.4	%	$	790	0.1	%
Total Commercial Loans	$	4,446,791	100.0	%	$	2,700	0.1	%
Consumer Loans and Lease Financings	Total Outstanding Balance				$ Balance of Modified Loans (1)		Modified Loans as a % of Portfolio (excl PPP) (1)
Real Estate-Residential Secured for Personal Purpose	$	568,735			$	—	—	%
Real Estate-Home Equity Secured for Personal Purpose	160,134				—		—
Loans to Individuals	26,249				—		—
Lease Financings	188,579				—		—
Total Consumer Loans and Lease Financings	$	943,697			$	—	—	%
Total	$	5,390,488			$	2,700	0.1	%

(1) Loan modifications referenced above were made in accordance with Section 4013 of the CARES Act, the Consolidated Appropriations Act, 2021 and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus and therefore were not classified as TDRs as of March 31, 2022.

Goodwill and Other Intangible Assets

Goodwill and other intangible assets have been recorded on the books of the Corporation in connection with acquisitions. The Corporation has core deposit and customer-related intangibles and servicing rights, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The amortization of intangible assets was $784 thousand and $1.0 million for the three months ended March 31, 2022 and 2021, respectively. See Note 5 to the Condensed Unaudited Consolidated Financial Statements, "Goodwill and Other Intangible Assets," for a summary of intangible assets at March 31, 2022 and December 31, 2021.

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The Corporation also has goodwill with a net carrying value of $175.5 million at March 31, 2022 and December 31, 2021, which is deemed to be an indefinite intangible asset and is not amortized. The Corporation completes a goodwill impairment analysis on an annual basis, or more often if events and circumstances indicate that there may be impairment. The Corporation also completes an impairment test for other identifiable intangible assets on an annual basis or more often if events and circumstances indicate there may be impairment. There was no impairment of goodwill or identifiable intangibles during the three months ended March 31, 2022 and 2021. There can be no assurance that future impairment assessments or tests will not result in a charge to earnings.

Liabilities

The following table presents liabilities at the dates indicated:

(Dollars in thousands)	At March 31, 2022		At December 31, 2021		Change
					Amount		Percent
Deposits	$	6,047,932	$	6,055,124	$	(7,192)	(0.1	%)
Short-term borrowings	18,976		20,106		(1,130)		(5.6)
Long-term debt	95,000		95,000		—		—
Subordinated notes	98,952		98,874		78		0.1
Operating lease liabilities	33,566		33,453		113		0.3
Accrued interest payable and other liabilities	39,459		46,070		(6,611)		(14.3)
Total liabilities	$	6,333,885	$	6,348,627	$	(14,742)	(0.2	%)

Deposits

Total deposits decreased $7.2 million, or 0.1%, from December 31, 2021, primarily due to decreases in consumer and public funds deposits offset by an increase in commercial deposits.

Borrowings

Total borrowings decreased $1.1 million, or 0.5%, from December 31, 2021, due to a decrease in short-term customer repurchase agreements.

Accrued Interest Payable and Other Liabilities

Other liabilities decreased $6.6 million, or 14.3%, from December 31, 2021, due to the payment in the first quarter of $5.9 million of annual incentive payments that were previously accrued.

Shareholders’ Equity

The following table presents total shareholders’ equity at the dates indicated:

(Dollars in thousands)	At March 31, 2022		At December 31, 2021		Change
					Amount		Percent
Common stock	$	157,784	$	157,784	$	—	—	%
Additional paid-in capital	297,945		299,181		(1,236)		(0.4)
Retained earnings	389,332		375,124		14,208		3.8
Accumulated other comprehensive loss	(31,909)		(16,353)		(15,556)		95.1
Treasury stock	(39,297)		(41,942)		2,645		(6.3)
Total shareholders’ equity	$	773,855	$	773,794	$	61	—	%

Retained earnings at March 31, 2022 increased by $14.2 million primarily due to net income of $20.3 million offset by $5.9 million of cash dividends paid for the three months ended March 31, 2022. Treasury stock decreased $2.6 million from December 31, 2021 primarily due to stock issued under the dividend reinvestment and employee stock purchase plans and stock-based incentive plan activity. Accumulated other comprehensive loss increased by $15.6 million, primarily attributable to decreases in the fair value of available-for-sale investment securities of $15.8 million, net of tax.

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Discussion of Segments

The Corporation has three operating segments: Banking, Wealth Management and Insurance. Detailed segment information appears in Note 13, "Segment Reporting" included in the Notes to the Condensed Unaudited Consolidated Financial Statements under Item 1 of this Quarterly Report on Form 10-Q.

The Banking segment reported pre-tax income of $22.8 million and $40.0 million for the three months ended March 31, 2022 and 2021, respectively. See the section of this MD&A under the headings "Results of Operations" and "Financial Condition" for a discussion of key items impacting the Banking Segment.

The Wealth Management segment reported pre-tax income of $2.4 million and $2.5 million for the three months ended March 31, 2022 and 2021, respectively. Noninterest income was $7.3 million and $6.8 million for the three months ended March 31, 2022 and 2021, respectively. The decrease in pre-tax income for the three months ended March 31, 2022 compared to the three months ended March 31, 2021 was primarily due to increases in commission expense driven by increased production and salary expense as we continue to invest in revenue producing positions. The increase in noninterest income for the three months ended March 31, 2022 compared to the three months ended March 31, 2022 was primarily due to appreciation of assets under management and supervision, as a majority of investment advisory fees are billed based on the prior quarter-end assets under management and supervision balance. Assets under management and supervision were $4.6 billion as of March 31, 2022, $4.9 billion as of December 31, 2021, $4.2 billion as of March 31, 2021 and $4.1 billion as of December 31, 2020.

The Insurance segment reported pre-tax income of $1.7 million and $1.6 million for the three months ended March 31, 2022 and 2021, respectively. Noninterest income was $5.8 million and $5.1 million for the three months ended March 31, 2022 and 2021, respectively. The increase in pre-tax income and noninterest income for the three months ended March 31, 2022 was primarily due to incremental revenue attributable to the insurance agency the Corporation acquired in the fourth quarter of 2021.

Capital Adequacy

Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum capital amounts and ratios as set forth in the following table. To comply with the regulatory definition of well capitalized, a depository institution must maintain minimum capital amounts and ratios as set forth in the following table.

Under current rules, in order to avoid limitations on capital distributions (including dividend payments and certain discretionary bonus payments to executive officers), a banking organization must hold a capital conservation buffer comprised of common equity Tier 1 capital above its minimum risk-based capital requirements in an amount greater than 2.50% of total risk-weighted assets. The Corporation's and Bank's intent is to maintain capital levels in excess of the capital conservation buffer, which requires Tier 1 Capital to Risk Weighted Assets to exceed 8.50% and Total Capital to Risk Weighted Assets to exceed 10.50%. The Corporation and the Bank were in compliance with these requirements at March 31, 2022.

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Table 5—Regulatory Capital

The Corporation's and Bank's actual and required capital ratios as of March 31, 2022 and December 31, 2021 under regulatory capital rules were as follows.

	Actual				For Capital Adequacy Purposes				To Be Well-Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
At March 31, 2022
Total Capital (to Risk-Weighted Assets):
Corporation	$	799,147	13.73	%	$	465,560	8.00	%	$	581,951	10.00	%
Bank	680,330		11.72		464,357		8.00		580,447		10.00
Tier 1 Capital (to Risk-Weighted Assets):
Corporation	644,487		11.07		349,170		6.00		465,560		8.00
Bank	624,622		10.76		348,268		6.00		464,357		8.00
Tier 1 Common Capital (to Risk-Weighted Assets):
Corporation	644,487		11.07		261,878		4.50		378,268		6.50
Bank	624,622		10.76		261,201		4.50		377,290		6.50
Tier 1 Capital (to Average Assets):
Corporation	644,487		9.35		275,811		4.00		344,764		5.00
Bank	624,622		9.09		274,997		4.00		343,746		5.00
At December 31, 2021
Total Capital (to Risk-Weighted Assets):
Corporation	$	786,300	13.77	%	$	456,902	8.00	%	$	571,128	10.00	%
Bank	660,436		11.61		455,178		8.00		568,973		10.00
Tier 1 Capital (to Risk-Weighted Assets):
Corporation	633,023		11.08		342,677		6.00		456,902		8.00
Bank	606,033		10.65		341,384		6.00		455,178		8.00
Tier 1 Common Capital (to Risk-Weighted Assets):
Corporation	633,023		11.08		257,008		4.50		371,233		6.50
Bank	606,033		10.65		256,038		4.50		369,832		6.50
Tier 1 Capital (to Average Assets):
Corporation	633,023		9.13		277,297		4.00		346,622		5.00
Bank	606,033		8.77		276,471		4.00		345,588		5.00

At March 31, 2022 and December 31, 2021, management believes that the Corporation and the Bank continued to meet all capital adequacy requirements to which they are subject. At March 31, 2022, the Bank was categorized as "well capitalized" under the regulatory framework for prompt corrective action. There are no conditions or events since that management believes have changed the Bank’s category.

In December 2018, the Federal Reserve announced that a banking organization that experiences a reduction in retained earnings due to the CECL adoption as of the beginning of the fiscal year in which CECL was adopted may elect to phase in the regulatory capital impact of adopting CECL. Transitional amounts are calculated for the following items: retained earnings, temporary difference deferred tax assets and credit loss allowances eligible for inclusion in regulatory capital. When calculating regulatory capital ratios, 25% of the transitional amounts are phased in during the first year. An additional 25% of the transitional amounts are phased in over each of the next two years and at the beginning of the fourth year, the day-one effects of CECL are completely reflected in regulatory capital.

Additionally, in March 2020, the Office of the Comptroller of the Currency, the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation announced the 2020 CECL interim final rule (IFR) designed to allow eligible firms to better focus on supporting lending to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the coronavirus (COVID-19). The 2020 CECL IFR allows corporations that adopt CECL before December 31, 2020 to defer 100 percent of the day-one transitional amounts

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described above through December 31, 2021 for regulatory capital purposes. Additionally, the 2020 CECL IFR allows electing firms to defer through December 31, 2021 the approximate portion of the post day-one allowance attributable to CECL relative to the incurred loss methodology. This is calculated by applying a 25% scaling factor to the CECL provision.

The Corporation adopted the transition guidance and the 2020 CECL IFR relief and applied these effects to regulatory capital.

Asset/Liability Management

The primary functions of Asset/Liability Management are to assure adequate earnings, capital and liquidity while maintaining an appropriate balance between interest-earning assets and interest-bearing liabilities. Management's objective with regard to interest rate risk is to understand the Corporation's sensitivity to changes in interest rates and develop and implement strategies to minimize volatility while maximizing net interest income.

The Corporation uses gap analysis and earnings at risk simulation modeling to quantify exposure to interest rate risk. The Corporation uses the gap analysis to identify and monitor long-term rate exposure and uses a simulation model to measure short-term rate exposure. The Corporation runs various earnings simulation scenarios to quantify the impact of declining or rising interest rates on net interest income over a one-year and two-year horizon. The simulation uses expected cash flows and repricing characteristics for all financial instruments at a point in time and incorporates company-developed, market-based assumptions regarding growth, pricing, and optionality such as prepayment speeds. As interest rates increase, fixed-rate assets tend to decrease in value; conversely, as interest rates decline, fixed-rate assets tend to increase in value.

Liquidity

The Corporation, in its role as a financial intermediary, is exposed to certain liquidity risks. Liquidity refers to the Corporation’s ability to ensure that sufficient cash flows and liquid assets are available to satisfy demand for loans, deposit withdrawals, repayment of borrowings, certificates of deposit at maturity, operating expenses and capital expenditures. The Corporation manages liquidity risk by measuring and monitoring liquidity sources and estimated funding needs on a daily basis. The Corporation has a contingency funding plan in place to address liquidity needs in the event of an institution-specific or a systemic financial crisis.

Sources of Funds

Core deposits continue to be the largest significant funding source for the Corporation. These deposits are primarily generated from individuals, businesses, municipalities and non-profit customers located in our primary service areas. The Corporation faces increased competition for these deposits from a large array of financial market participants, including banks, credit unions, savings institutions, mutual funds, security dealers and others.

As part of its diversified funding strategy, the Corporation also utilizes a mix of short-term and long-term wholesale funding providers. Wholesale funding includes federal funds purchases from correspondent banks, secured borrowing lines from the Federal Home Loan Bank of Pittsburgh, the Federal Reserve Bank of Philadelphia and, at times, brokered deposits and other similar sources.

Cash Requirements

The Corporation has cash requirements for various financial obligations, including contractual obligations and commitments that require cash payments. The most significant contractual obligation, in both the under and over one-year time period, is for the Bank to repay certificates of deposit and long-term borrowings. The Bank anticipates meeting these obligations by utilizing on-balance sheet liquidity and continuing to provide convenient depository and cash management services through its financial center network, thereby replacing these contractual obligations with similar fund sources at rates that are competitive in our market. The Bank will also use borrowings and brokered deposits to meet its obligations.

Commitments to extend credit are the Bank’s most significant commitment in both the under and over one-year time periods. These commitments do not necessarily represent future cash requirements in that these commitments often expire without being drawn upon.

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Recent Accounting Pronouncements

For information regarding recent accounting pronouncements, refer to Note 1 to the Condensed Consolidated Financial Statements, "Summary of Significant Accounting Policies."

Item 3.    Quantitative and Qualitative Disclosures About Market Risk

No material changes in the Corporation’s market risk occurred during the current period. A detailed discussion of market risk is provided in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021.

Item 4.    Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Management is responsible for the disclosure controls and procedures of the Corporation. Disclosure controls and procedures are controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods required by the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be so disclosed by an issuer is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. As of the end of the period covered by this report, an evaluation was performed under the supervision and with the participation of the Corporation’s management, including the Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial and Accounting Officer), of the effectiveness of the design and operation of the Corporation’s disclosure controls and procedures. Based on that evaluation, the Corporation’s Chief Executive Officer and Chief Financial Officer concluded that the disclosure controls and procedures were effective as of March 31, 2022.

Changes in Internal Control over Financial Reporting

There were no changes in the Corporation's internal control over financial reporting (as defined in Rule 13a-15(f)) during the quarter ended March 31, 2022 that materially affected, or are reasonably likely to materially affect, the Corporation’s internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1.    Legal Proceedings

The Corporation is periodically subject to various pending and threatened legal actions, which involve claims for monetary relief. Based upon information presently available to the Corporation, it is the Corporation's opinion that any legal and financial responsibility arising from such claims will not have a material adverse effect on the Corporation's results of operations, financial position or cash flows.

Item 1A. Risk Factors

There have been no material changes in risk factors applicable to the Corporation from those disclosed in "Risk Factors" in Item 1A of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021.

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Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information on repurchases by the Corporation of its common stock under the Corporation's Board approved program.

ISSUER PURCHASES OF EQUITY SECURITIES
Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
January 1 – 31, 2022	—	$	—	—	679,174
February 1 – 28, 2022	—	—		—	679,174
March 1 – 31, 2022	—	—		—	679,174
Total	—	$	—	—

1.On May 27, 2015, the Corporation's Board of Directors approved the repurchase of 1,000,000 shares, or approximately 5% of the Corporation's common stock outstanding as of May 27, 2015. The stock repurchase plan does not include normal treasury activity such as purchases to fund the dividend reinvestment, employee stock purchase and equity compensation plans. The program has no scheduled expiration date and the Board of Directors has the right to suspend or discontinue the program at any time.

In addition to the repurchases disclosed above, participants in the Corporation's stock-based incentive plans may have shares withheld to cover income taxes upon the vesting of restricted stock awards and may use a stock swap to exercise stock options. Shares withheld to cover income taxes upon the vesting of restricted stock awards and stock swaps to exercise stock options are repurchased pursuant to the terms of the applicable plan and not under the Corporation's share repurchase program. Shares repurchased pursuant to these plans during the three months ended March 31, 2022 were as follows:

Period	Total Number of Shares Purchased	Average Price Paid per Share
January 1 – 31, 2022	—	$	—
February 1 – 28, 2022	—	—
March 1 – 31, 2022	—	—
Total	—	$	—

Item 3.    Defaults Upon Senior Securities

None.

Item 4.    Mine Safety Disclosures

Not Applicable.

 Item 5.    Other Information

None.

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Item 6.    Exhibits

 

a.	Exhibits
	Exhibit 3.1	Amended and Restated Articles of Incorporation are incorporated by reference to Exhibit 3.1 of Form 10-K, filed with the SEC on February 28, 2019.
	Exhibit 3.2	Amended By-Laws are incorporated by reference to Exhibit 3.2 of Form 8-K, filed with the SEC on April 27, 2022.
	Exhibit 31.1	Certification of Jeffrey M. Schweitzer, President and Chief Executive Officer of the Corporation, pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002.
	Exhibit 31.2	Certification of Brian J. Richardson, Senior Executive Vice President and Chief Financial Officer of the Corporation, pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002.
	Exhibit 32.1	Certification of Jeffrey M. Schweitzer, President and Chief Executive Officer of the Corporation, pursuant to 18 United States Code Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002.
	Exhibit 32.2	Certification of Brian J. Richardson, Senior Executive Vice President and Chief Financial Officer of the Corporation, pursuant to 18 United States Code Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002.
	Exhibit 101	The following financial statements from the Corporation's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, formatted in Inline XBRL: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Income, (iii) Condensed Consolidated Statements of Comprehensive Income, (iv) Condensed Consolidated Statements of Changes in Shareholders' Equity, (v) Condensed Consolidated Statements of Cash Flows, and (vi) Notes to the Condensed Unaudited Consolidated Financial Statements, tagged as blocks of text and including detailed tags.
	Exhibit 104	The cover page from the Corporation's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, formatted in Inline XBRL.

58

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	Univest Financial Corporation
	(Registrant)
Date: May 3, 2022	/s/ Jeffrey M. Schweitzer
	Jeffrey M. Schweitzer President and Chief Executive Officer (Principal Executive Officer)
Date: May 3, 2022	/s/ Brian J. Richardson
	Brian J. Richardson Senior Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

59

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Jeffrey M. Schweitzer, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Univest Financial Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date: May 3, 2022

/s/ Jeffrey M. Schweitzer

Jeffrey M. Schweitzer

President and Chief Executive Officer
(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Brian J. Richardson, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of Univest Financial Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Date: May 3, 2022

/s/ Brian J. Richardson

Brian J. Richardson

Senior Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Univest Financial Corporation on Form 10-Q for the period ended March 31, 2022, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Corporation.

A signed original of this written statement required by Section 906 has been provided to Univest Financial Corporation and will be retained by Univest Financial Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

/s/ Jeffrey M. Schweitzer

Jeffrey M. Schweitzer

President and Chief Executive Officer
(Principal Executive Officer)

May 3, 2022

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Univest Financial Corporation on Form 10-Q for the period ended March 31, 2022, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Corporation.

A signed original of this written statement required by Section 906 has been provided to Univest Financial Corporation and will be retained by Univest Financial Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

/s/ Brian J. Richardson

Brian J. Richardson

Senior Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)

May 3, 2022

XML

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	0-7617
Entity Registrant Name	UNIVEST FINANCIAL CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-1886144
Entity Address, Address Line One	14 North Main Street
Entity Address, City or Town	Souderton
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18964
City Area Code	215
Local Phone Number	721-2400
Title of 12(b) Security	Common Stock, $5 par value
Trading Symbol	UVSP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,593,105
Entity Central Index Key	0000102212
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

XML

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 57,307	$ 49,202
Interest-earning deposits with other banks	716,474	840,948
Cash and cash equivalents	773,781	890,150
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	166,339	176,983
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	349,994	317,007
Investments in equity securities	2,569	2,999
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost	26,330	28,186
Loans held for sale	14,521	21,600
Loans and leases held for investment	5,400,786	5,310,017
Less: Allowance for credit losses, loans and leases	(68,286)	(71,924)
Net loans and leases held for investment	5,332,500	5,238,093
Premises and equipment, net	50,429	56,882
Operating lease right-of-use assets	30,498	30,407
Goodwill	175,510	175,510
Other intangibles, net of accumulated amortization	11,784	11,848
Bank owned life insurance	119,398	118,699
Accrued interest receivable and other assets	54,087	54,057
Total assets	7,107,740	7,122,421
LIABILITIES
Noninterest-bearing deposits	2,136,467	2,065,423
Interest-bearing deposits	3,911,465	3,989,701
Deposits, Total	6,047,932	6,055,124
Short-term borrowings	18,976	20,106
Long-term debt	95,000	95,000
Subordinated notes	98,952	98,874
Operating lease liabilities	33,566	33,453
Accrued interest payable and other liabilities	39,459	46,070
Total liabilities	6,333,885	6,348,627
SHAREHOLDERS' EQUITY
Common stock, $5 par value: 48,000,000 shares authorized at March 31, 2022 and December 31, 2021; 31,556,799 shares issued at March 31, 2022 and December 31, 2021; 29,636,425 and 29,500,542 shares outstanding at March 31, 2022 and December 31, 2021, respectively	157,784	157,784
Additional paid-in capital	297,945	299,181
Retained earnings	389,332	375,124
Accumulated other comprehensive loss, net of tax benefit	(31,909)	(16,353)
Treasury stock, at cost; 1,920,374 and 2,056,257 shares at March 31, 2022 and December 31, 2021, respectively	(39,297)	(41,942)
Total shareholders’ equity	773,855	773,794
Total liabilities and shareholders’ equity	$ 7,107,740	$ 7,122,421

XML

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	$ 157,924	$ 178,402
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	(1,275)	(929)
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	$ 372,860	$ 319,474
Common stock, par value	$ 5	$ 5
Common stock, shares authorized	48,000,000	48,000,000
Common stock, shares issued	31,556,799	31,556,799
Common stock, shares outstanding	29,636,425	29,500,542
Treasury stock, shares	1,920,374	2,056,257

XML

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest income
Interest and fees on loans and leases	$ 48,106	$ 49,663
Interest and dividends on investment securities:
Taxable	2,365	1,303
Exempt from federal income taxes	15	87
Interest on deposits with other banks	357	56
Interest and dividends on other earning assets	355	348
Total interest income	51,198	51,457
Interest expense
Interest on deposits	2,891	3,400
Interest on short-term borrowings	2	2
Interest on long-term debt and subordinated notes	1,645	2,641
Total interest expense	4,538	6,043
Net interest income	46,660	45,414
Reversal of provision for credit losses	(3,450)	(11,283)
Net interest income after provision for credit losses	50,110	56,697
Disaggregation of Revenue [Line Items]
Insurance commission and fee income	5,570	4,955
Bank owned life insurance income	699	717
Net gain on sales of investment securities	30	65
Net gain on mortgage banking activities	1,929	5,938
Other income	728	1,370
Noninterest income	20,470	23,250
Noninterest expense
Salaries, benefits and commissions	28,245	24,780
Net occupancy	2,716	2,739
Equipment	982	946
Data processing	3,567	3,050
Professional fees	2,138	1,748
Marketing and advertising	425	280
Deposit insurance premiums	893	636
Intangible expenses	341	249
Other expense	6,105	5,112
Total noninterest expense	45,412	39,540
Income (loss) before tax amount	25,168	40,407
Income tax expense	4,851	7,804
Net income	$ 20,317	$ 32,603
Net income per share:
Basic (in dollars per share)	$ 0.69	$ 1.11
Diluted (in dollars per share)	$ 0.68	$ 1.11
Trust fee income
Disaggregation of Revenue [Line Items]
Noninterest income	$ 2,102	$ 2,034
Service charges on deposit accounts
Disaggregation of Revenue [Line Items]
Noninterest income	1,504	1,282
Investment advisory commission and fee income
Disaggregation of Revenue [Line Items]
Noninterest income	5,152	4,697
Other service fee income
Disaggregation of Revenue [Line Items]
Noninterest income	$ 2,756	$ 2,192

XML

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Before Tax Amount
Income (loss) before tax amount		$ 25,168	$ 40,407
Net unrealized gains (losses) on available-for-sale investment securities, before tax amount
Net unrealized holding (losses) gains arising during the period		(20,369)	2,194
Provision (reversal of provision) for credit losses		(346)	384
Less: reclassification adjustment for net gains on sales realized in net income	[1]	(30)	(65)
Other comprehensive income (loss), securities, available-for-sale, adjustment, before tax		(20,053)	1,745
Net unrealized gains (losses) on interest rate swaps used in cash flow hedges, before tax amount
Net unrealized holding gains arising during the period		76	6
Less: reclassification adjustment for net losses realized in net income (2)	[2]	68	76
Total net unrealized gains on interest rate swaps used in cash flow hedges		144	82
Defined benefit pension plans, Before Tax Amount
Amortization of net actuarial loss included in net periodic pension costs	[3]	218	329
Total defined benefit pension plans		218	329
Other comprehensive income (loss), before tax amount		(19,691)	2,156
Total comprehensive income (loss), before tax amount		5,477	42,563
Tax Expense (Benefit)
Income tax expense		4,851	7,804
Net unrealized gains (losses) on available-for-sale investment securities, tax expense (benefit)
Other comprehensive income (loss), securities, available-for-sale, unrealized holding gain (loss) arising during period, tax		(4,278)	461
Provision (reversal of provision) for credit losses		(73)	81
Less: reclassification adjustment for net gains on sales realized in net income	[1]	(6)	(14)
Total net unrealized (losses) gains on available-for-sale investment securities		(4,211)	366
Net unrealized gains (losses) on interest rate swaps used in cash flow hedges, tax expense (benefit)
Net unrealized holding gains arising during the period		16	1
Less: reclassification adjustment for net losses realized in net income (2)	[2]	14	16
Total net unrealized gains on interest rate swaps used in cash flow hedges		30	17
Defined benefit pension plans, tax expense (benefit)
Amortization of net actuarial loss included in net periodic pension costs	[3]	46	69
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax		46	69
Other comprehensive income (loss), tax expense (benefit)		(4,135)	452
Total comprehensive income (loss), tax expense (benefit)		716	8,256
Net of Tax Amount
Net income		20,317	32,603
Net unrealized gains (losses) on available-for-sale investment securities, net of tax amount
Net unrealized holding (losses) gains arising during the period		(16,091)	1,733
Provision (reversal of provision) for credit losses		(273)	303
Less: reclassification adjustment for net gains on sales realized in net income	[1]	(24)	(51)
Other comprehensive income (loss), securities, available-for-sale, adjustment, after tax		(15,842)	1,379
Net unrealized gains (losses) on interest rate swaps used in cash flow hedges, net of tax amount
Net unrealized holding gains arising during the period		60	5
Less: reclassification adjustment for net losses realized in net income (2)	[2]	54	60
Total net unrealized gains on interest rate swaps used in cash flow hedges		114	65
Defined benefit pension plans, net of tax amount
Amortization of net actuarial loss included in net periodic pension costs	[3]	172	260
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, after tax		172	260
Other comprehensive income (loss), net of tax amount		(15,556)	1,704
Total comprehensive income (loss), net of tax amount		$ 4,761	$ 34,307

[1] (1) Included in net gain on sales of investment securities on the condensed consolidated statements of income (before tax amount).

[2] (2) Included in interest expense on demand deposits on the condensed consolidated statements of income (before tax amount).

[3] (3) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (before tax amount). See Note 8, "Retirement Plans and Other Postretirement Benefits" for additional details. Note: See accompanying notes to the unaudited condensed consolidated financial statements.

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Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]
Beginning balance at Dec. 31, 2020	$ 692,472	$ 157,784	$ 296,186	$ 306,899	$ (22,144)	$ (46,253)
Beginning balance, shares at Dec. 31, 2020		29,295,052
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	32,603	$ 0	0	32,603	0	0
Other comprehensive income, net of income tax	1,704	0	0	0	1,704	0
Cash dividends declared	(5,864)	0	0	(5,864)	0	0
Stock-based compensation	822	0	878	(56)	0	0
Stock issued under dividend reinvestment and employee stock purchase plans	609	$ 0	65	(1)	0	545
Stock issued under dividend reinvestment and employee stock purchase plans, shares		23,311
Vesting of restricted stock units	(355)	$ 0	(1,126)			771
Vesting of restricted stock unit awards, shares		42,619
Exercise of stock options	759	$ 0	17	0	0	742
Shares under option, exercised		36,286
Cancellation of performance-based restricted stock awards	0	$ 0	157	0	0	(157)
Cancellation of performance-based restricted stock awards, shares		(7,199)
Purchases of treasury stock	(295)	$ 0	0	0	0	(295)
Purchases of treasury stock, shares		(10,494)
Ending balance at Mar. 31, 2021	$ 722,455	$ 157,784	296,177	333,581	(20,440)	(44,647)
Ending balance, shares at Mar. 31, 2021		29,379,575
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared, per share	$ 0.20
Beginning balance at Dec. 31, 2021	$ 773,794	$ 157,784	299,181	375,124	(16,353)	(41,942)
Beginning balance, shares at Dec. 31, 2021		29,500,542
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,317	$ 0	0	20,317	0	0
Other comprehensive income, net of income tax	(15,556)	0	0	0	(15,556)	0
Cash dividends declared	(5,905)	0	0	(5,905)	0	0
Stock-based compensation	869	0	1,073	(204)	0	0
Stock issued under dividend reinvestment and employee stock purchase plans	623	$ 0	59	0	0	564
Stock issued under dividend reinvestment and employee stock purchase plans, shares		21,843
Vesting of restricted stock units	(863)	$ 0	(2,418)	0	0	1,555
Vesting of restricted stock unit awards, shares		88,259
Exercise of stock options	$ 576	$ 0	50	0	0	526
Shares under option, exercised	25,781	25,781
Ending balance at Mar. 31, 2022	$ 773,855	$ 157,784	$ 297,945	$ 389,332	$ (31,909)	$ (39,297)
Ending balance, shares at Mar. 31, 2022		29,636,425
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared, per share	$ 0.20

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Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.20	$ 0.20

XML

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 20,317	$ 32,603
Adjustments to reconcile net income to net cash provided by operating activities:
Reversal of provision for credit losses	(3,450)	(11,283)
Depreciation of premises and equipment	1,101	1,173
Net amortization of investment securities premiums and discounts	472	768
Net gain on sales of investment securities	(30)	(65)
Net gain on mortgage banking activities	(1,929)	(5,938)
Bank owned life insurance income	(699)	(717)
Stock-based compensation	934	874
Intangible expenses	341	249
Other adjustments to reconcile net income to cash used in operating activities	(910)	(2,036)
Originations of loans held for sale	(73,541)	(142,877)
Proceeds from the sale of loans held for sale	82,616	163,052
Contributions to pension and other postretirement benefit plans	(63)	(66)
Decrease (increase) in accrued interest receivable and other assets	4,316	(5,488)
Decrease in accrued interest payable and other liabilities	(5,535)	(376)
Net cash provided by operating activities	23,940	29,873
Cash flows from investing activities:
Proceeds from sale of premises and equipment	6,170	0
Purchases of premises and equipment	(676)	(1,311)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity	14,335	20,197
Proceeds from maturities, calls and principal repayments of securities available-for-sale	8,501	12,708
Proceeds from sales of securities available-for-sale	1,530	1,563
Purchases of investment securities held-to-maturity	(3,936)	(4,625)
Purchases of investment securities available-for-sale	(63,634)	(32,540)
Proceeds from sales of money market mutual funds	2,508	2,020
Purchases of money market mutual funds	(2,077)	(2,150)
Net decrease in other investments	1,856	2,612
Net increase in loans and leases	(90,783)	(108,296)
Net cash used in investing activities	(126,206)	(109,822)
Cash flows from financing activities:
Net (decrease) increase in deposits	(7,200)	68,869
Net (decrease) increase in short-term borrowings	(1,130)	8,770
Repayment of long-term debt	0	(15,000)
Repayment of subordinated debt	0	(10,000)
Payment of contingent consideration on acquisitions	0	(29)
Payment, Tax Withholding, Share-based Payment Arrangement	(863)	(355)
Purchases of treasury stock	0	(295)
Stock issued under dividend reinvestment and employee stock purchase plans	623	609
Proceeds from exercise of stock options	576	759
Cash dividends paid	(6,109)	(5,920)
Net cash (used in) provided by financing activities	(14,103)	47,408
Net decrease in cash and cash equivalents	(116,369)	(32,541)
Cash and cash equivalents at beginning of year	890,150	219,858
Cash and cash equivalents at end of period	773,781	187,317
Supplemental disclosures of cash flow information:
Cash paid for interest	5,559	6,856
Cash paid for income taxes, net of refunds	28	130
Transfer of loans to other real estate owned	$ 0	$ 126

XML

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Univest Financial Corporation (the Corporation) and its wholly owned subsidiaries. The Corporation’s direct subsidiary is Univest Bank and Trust Co. (the Bank). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations for interim financial information. The accompanying unaudited consolidated financial statements reflect all adjustments, which are of a normal recurring nature and are, in the opinion of management, necessary for a fair presentation of the financial statements for the interim periods presented. Certain prior period amounts have been reclassified to conform to the current-period presentation. Operating results for the three-month period ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ended December 31, 2022 or for any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 25, 2022.

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes include the fair value measurement of investment securities available-for-sale and the calculation of the allowance for credit losses.

Accounting Pronouncements Adopted in 2022

In January 2020, the FASB issued ASU No. 2020-01, "Investments—Equity Securities (Topic 321): Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." This ASU 2020-01 clarifies the interactions between ASC 321, ASC 323 and ASC 815 and addresses accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. This ASU became effective on January 1, 2022 for the Corporation. The adoption of this ASU did not have a material impact on the Corporation's financial statements.

In August 2020, the FASB issued ASU No. 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)." This guidance simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU also simplify the guidance in ASC 815-40 by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and require entities to presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. This ASU became effective on January 1, 2022 for the Corporation. The adoption of this ASU did not have a material impact on the Corporation's financial statements.

In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method." ASU 2022-01 addresses and clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-12 that established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. This ASU allows entities to designate multiple hedging relationships with a single closed portfolio, including both prepayable and non-prepayable financial assets, and therefore a larger portion of the interest rate risk associated with such a portfolio is eligible to be hedged.

This ASU is effective for fiscal years beginning after December 15, 2022 or January 1, 2023 for the Corporation, including interim periods within those fiscal years. Early adoption, however, is permitted if an entity has adopted the amendments in ASU 2017-12. The Corporation has elected to early adopt this ASU, and the adoption of this ASU did not have a material impact on the Corporation's financial statements.

Recent Accounting Pronouncements Yet to Be Adopted

In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted CECL and enhance the disclosure requirements for modifications of receivables made with borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs by year of origination for financing receivables and net investment in leases in the existing vintage disclosures. This ASU is effective for fiscal years beginning after December 15, 2022 or January 1, 2023 for the Corporation, including interim periods within those fiscal years for entities that have adopted CECL. Early adoption is permitted if an entity has adopted CECL. The Corporation is in the process of evaluating the amendments but does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements.

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Earnings per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share, Basic and Diluted [Abstract]

Earnings Per Share

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share. For additional information on the calculation of basic and diluted earnings per share, see Note 1, "Summary of Significant Accounting Policies - Earnings per Share" of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021.

	Three Months Ended
	March 31,
(Dollars and shares in thousands, except per share data)	2022		2021
Numerator:
Net income	$	20,317	$	32,603
Net income allocated to unvested restricted stock awards	—		(37)
Net income allocated to common shares	$	20,317	$	32,566
Denominator:
Weighted average shares outstanding	29,542		29,329
Average unvested restricted stock awards	—		(32)
Denominator for basic earnings per share—weighted-average shares outstanding	29,542		29,297
Effect of dilutive securities—employee stock options and restricted stock units	196		135
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,738		29,432
Basic earnings per share	$	0.69	$	1.11
Diluted earnings per share	$	0.68	$	1.11
Average antidilutive options and restricted stock units excluded from computation of diluted earnings per share	249		315

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Investment Securities

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investments Securities

Investment Securities

The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at March 31, 2022 and December 31, 2021, by contractual maturity within each type:

	At March 31, 2022
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
Within 1 year	$	2,000	$	8	$	—	$	—	$	2,008
	2,000		8		—		—		2,008
Residential mortgage-backed securities:
After 1 year to 5 years	1,188		—		(16)		—		1,172
After 5 years to 10 years	5,858		7		(32)		—		5,833
Over 10 years	157,293		268		(8,650)		—		148,911
	164,339		275		(8,698)		—		155,916
Total	$	166,339	$	283	$	(8,698)	$	—	$	157,924
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years	$	2,326	$	1	$	(15)	$	—	$	2,312
	2,326		1		(15)		—		2,312
Residential mortgage-backed securities:
Within 1 year	21		—		—		—		21
After 1 year to 5 years	370		—		(4)		—		366
After 5 years to 10 years	3,533		—		(48)		—		3,485
Over 10 years	271,817		32		(19,033)		—		252,816
	275,741		32		(19,085)		—		256,688
Collateralized mortgage obligations:
After 5 years to 10 years	439		—		(7)		—		432
Over 10 years	2,631		—		(116)		—		2,515
	3,070		—		(123)		—		2,947
Corporate bonds:
Within 1 year	1,500		—		—		—		1,500
After 1 year to 5 years	29,726		64		(561)		(85)		29,144
After 5 years to 10 years	60,497		—		(1,904)		(1,190)		57,403
	91,723		64		(2,465)		(1,275)		88,047
Total	$	372,860	$	97	$	(21,688)	$	(1,275)	$	349,994

	At December 31, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
Within 1 year	$	6,999	$	34	$	—	$	—	$	7,033
	6,999		34		—		—		7,033
Residential mortgage-backed securities:
After 5 years to 10 years	5,208		194		—		—		5,402
Over 10 years	164,776		2,175		(984)		—		165,967
	169,984		2,369		(984)		—		171,369
Total	$	176,983	$	2,403	$	(984)	$	—	$	178,402
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years	$	2,326	$	7	$	—	$	—	$	2,333
	2,326		7		—		—		2,333
Residential mortgage-backed securities:
Within 1 year	31		—		—		—		31
After 1 year to 5 years	153		5		—		—		158
After 5 years to 10 years	2,286		82		—		—		2,368
Over 10 years	220,153		671		(2,276)		—		218,548
	222,623		758		(2,276)		—		221,105
Collateralized mortgage obligations:
After 5 years to 10 years	481		7		—		—		488
Over 10 years	2,813		—		(23)		—		2,790
	3,294		7		(23)		—		3,278
Corporate bonds:
Within 1 year	2,500		4		—		—		2,504
After 1 year to 5 years	28,731		755		(67)		(51)		29,368
After 5 years to 10 years	60,000		—		(703)		(878)		58,419
	91,231		759		(770)		(929)		90,291
Total	$	319,474	$	1,531	$	(3,069)	$	(929)	$	317,007

Expected maturities may differ from contractual maturities because debt issuers may have the right to call or prepay obligations without call or prepayment penalties and mortgage-backed securities typically prepay at a rate faster than contractually due.

Securities with a carrying value of $439.9 million and $281.7 million at March 31, 2022 and December 31, 2021, respectively, were pledged to secure public funds deposits and other contractual obligations. There were no pledged securities to secure credit derivatives and interest rate swaps at March 31, 2022. Securities of $23.0 million were pledged to secure credit derivatives and interest rate swaps at December 31, 2021. See Note 11, "Derivative Instruments and Hedging Activities" for additional information.

The following table presents information related to sales of securities available-for-sale during the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Securities available-for-sale:
Proceeds from sales	$	1,530	$	1,563
Gross realized gains on sales	30		65
Tax expense related to net realized gains on sales	6		14

At March 31, 2022 and December 31, 2021, there were no reportable investments in any single issuer representing more than 10% of shareholders’ equity.

The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2022 and December 31, 2021, by the length of time those securities were in a continuous loss position.

	Less than Twelve Months				Twelve Months or Longer				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
At March 31, 2022
Securities Held-to-Maturity
Residential mortgage-backed securities	$	129,937	$	(8,276)	$	3,872	$	(422)	$	133,809	$	(8,698)
Total	$	129,937	$	(8,276)	$	3,872	$	(422)	$	133,809	$	(8,698)
Securities Available-for-Sale
State and political subdivisions	$	1,281	$	(15)	$	—	$	—	$	1,281	$	(15)
Residential mortgage-backed securities	205,772		(13,887)		48,596		(5,198)		254,368		(19,085)
Collateralized mortgage obligations	2,947		(123)		—		—		2,947		(123)
Corporate bonds	1,280		(1)		—		—		1,280		(1)
Total	$	211,280	$	(14,026)	$	48,596	$	(5,198)	$	259,876	$	(19,224)
At December 31, 2021
Securities Held-to-Maturity
Residential mortgage-backed securities	$	89,837	$	(984)	$	—	$	—	$	89,837	$	(984)
Total	$	89,837	$	(984)	$	—	$	—	$	89,837	$	(984)
Securities Available-for-Sale
Residential mortgage-backed securities	$	164,326	$	(1,816)	$	12,097	$	(460)	$	176,423	$	(2,276)
Collateralized mortgage obligations	2,790		(23)		—		—		2,790		(23)
Corporate bonds	779		(1)		—		—		779		(1)
Total	$	167,895	$	(1,840)	$	12,097	$	(460)	$	179,992	$	(2,300)

At March 31, 2022, the fair value of held-to-maturity securities in an unrealized loss position for which an allowance for credit losses has not been recorded was $133.8 million, including unrealized losses of $8.7 million. These holdings were comprised of fifty-nine federal agency mortgage-backed securities, which are U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The Corporation did not recognize any credit losses on held-to-maturity debt securities for the three months ended March 31, 2022. Accrued interest receivable on held-to-maturity debt securities totaled $351 thousand at March 31, 2022 and is included within Accrued interest receivable and other assets on the condensed consolidated balance sheet. This amount is excluded from the estimate of expected credit losses.

At March 31, 2022, the fair value of available-for-sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded was $259.9 million, including unrealized losses of $19.2 million. These holdings were comprised of (1) eighty-seven federal agency mortgage-backed securities, which are U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses, (2) three investment grade corporate bonds, (3) two collateralized mortgage obligation bonds and (4) one state and political subdivisions bond. The Corporation does not intend to sell the securities in an unrealized loss position and is unlikely to be required to sell these securities before a recovery of fair value, which may be maturity. The Corporation concluded that the decline in fair value of these securities was not indicative of a credit loss. Accrued interest receivable on available-for-sale debt securities totaled $821 thousand at March 31, 2022 and is included within Accrued interest receivable and other assets on the condensed consolidated balance sheet. This amount is excluded from the estimate of expected credit losses.

The table below presents a rollforward by major security type for the three months ended March 31, 2022 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)	Corporate Bonds
Three months ended March 31, 2022
Securities Available-for-Sale
Beginning balance	$	(929)
Additions for securities for which no previous expected credit losses were recognized	(45)
Change in securities for which a previous expected credit loss was recognized	(301)
Ending balance	$	(1,275)
Three months ended March 31, 2021
Securities Available-for-Sale
Beginning balance	$	(869)
Additions for securities for which no previous expected credit losses were recognized	(19)
Change in securities for which a previous expected credit loss was recognized	403
Ending balance	$	(485)

At March 31, 2022, the fair value of available-for-sale securities in an unrealized loss position for which an allowance for credit losses has been recorded was $74.1 million, including unrealized losses of $3.7 million, and allowance for credit losses of $1.3 million. These holdings were comprised of thirty-three investment grade corporate bonds which fluctuate in value based on changes in market conditions. For these securities, fluctuations were primarily due to changes in the interest rate environment. The Corporation does not have the intent to sell these securities and it is not likely that it will be required to sell the securities before their anticipated recovery. The underlying issuers continue to make timely principal and interest payments on the securities.

The Corporation recognized a $1 thousand and a $115 thousand net gain on equity securities during the three months ended March 31, 2022 and 2021, respectively, in other noninterest income. There were no sales of equity securities during the three months ended March 31, 2022 or 2021.

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Loans and Leases

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Loans and Leases

Loans and Leases

Summary of Major Loan and Lease Categories

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
Commercial, financial and agricultural	$	932,485	$	956,396
Paycheck Protection Program	10,298		31,748
Real estate-commercial	2,816,737		2,718,535
Real estate-construction	285,083		283,918
Real estate-residential secured for business purpose	412,486		409,900
Real estate-residential secured for personal purpose	568,735		540,566
Real estate-home equity secured for personal purpose	160,134		158,909
Loans to individuals	26,249		25,504
Lease financings	188,579		184,541
Total loans and leases held for investment, net of deferred income	$	5,400,786	$	5,310,017
Less: Allowance for credit losses, loans and leases	(68,286)		(71,924)
Net loans and leases held for investment	$	5,332,500	$	5,238,093
Imputed interest on lease financings, included in the above table	$	(19,204)	$	(19,104)
Net deferred costs, included in the above table	4,324		3,408
Overdraft deposits included in the above table	3,286		4,268

Age Analysis of Past Due Loans and Leases

The following presents, by class of loans and leases held for investment, an aging of past due loans and leases, loans and leases which are current and nonaccrual loans and leases at March 31, 2022 and December 31, 2021:

	Accruing Loans and Leases
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or more Past Due		Total Past Due		Current		Total Accruing Loans and Leases		Nonaccrual Loans and Leases		Total Loans and Leases Held for Investment
At March 31, 2022
Commercial, financial and agricultural	$	4,880	$	—	$	—	$	4,880	$	927,157	$	932,037	$	448	$	932,485
Paycheck Protection Program	—		—		—		—		10,298		10,298		—		10,298
Real estate—commercial real estate and construction:
Commercial real estate	2,833		—		—		2,833		2,787,493		2,790,326		26,411		2,816,737
Construction	—		—		—		—		285,083		285,083		—		285,083
Real estate—residential and home equity:
Residential secured for business purpose	294		89		—		383		410,983		411,366		1,120		412,486
Residential secured for personal purpose	1,112		—		—		1,112		565,364		566,476		2,259		568,735
Home equity secured for personal purpose	77		20		—		97		159,548		159,645		489		160,134
Loans to individuals	34		14		185		233		26,016		26,249		—		26,249
Lease financings	221		124		89		434		187,996		188,430		149		188,579
Total	$	9,451	$	247	$	274	$	9,972	$	5,359,938	$	5,369,910	$	30,876	$	5,400,786

	Accruing Loans and Leases
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or more Past Due		Total Past Due		Current		Total Accruing Loans and Leases		Nonaccrual Loans and Leases		Total Loans and Leases Held for Investment
At December 31, 2021
Commercial, financial and agricultural	$	3,407	$	894	$	—	$	4,301	$	951,647	$	955,948	$	448	$	956,396
Paycheck Protection Program	367		—		—		367		31,381		31,748		—		31,748
Real estate—commercial real estate and construction:
Commercial real estate	234		—		—		234		2,690,401		2,690,635		27,900		2,718,535
Construction	—		—		—		—		283,918		283,918		—		283,918
Real estate—residential and home equity:
Residential secured for business purpose	542		—		216		758		406,955		407,713		2,187		409,900
Residential secured for personal purpose	2,976		162		—		3,138		535,379		538,517		2,049		540,566
Home equity secured for personal purpose	646		129		—		775		157,589		158,364		545		158,909
Loans to individuals	90		27		180		297		25,207		25,504		—		25,504
Lease financings	774		397		102		1,273		183,187		184,460		81		184,541
Total	$	9,036	$	1,609	$	498	$	11,143	$	5,265,664	$	5,276,807	$	33,210	$	5,310,017

Nonperforming Loans and Leases

The following presents, by class of loans and leases, nonperforming loans and leases at March 31, 2022 and December 31, 2021.

	At March 31, 2022								At December 31, 2021
(Dollars in thousands)	Nonaccrual Loans and Leases*		Accruing Troubled Debt Restructured Loans and Lease Modifications		Loans and Leases 90 Days or more Past Due and Accruing Interest		Total Nonperforming Loans and Leases		Nonaccrual Loans and Leases*		Accruing Troubled Debt Restructured Loans and Lease Modifications		Loans and Leases 90 Days or more Past Due and Accruing Interest		Total Nonperforming Loans and Leases
Commercial, financial and agricultural	$	448	$	—	$	—	$	448	$	448	$	—	$	—	$	448
Real estate—commercial real estate and construction:
Commercial real estate	26,411		—		—		26,411		27,900		—		—		27,900
Real estate—residential and home equity:
Residential secured for business purpose	1,120		—		—		1,120		2,187		—		216		2,403
Residential secured for personal purpose	2,259		—		—		2,259		2,049		—		—		2,049
Home equity secured for personal purpose	489		51		—		540		545		51		—		596
Loans to individuals	—		—		185		185		—		—		180		180
Lease financings	149		—		89		238		81		—		102		183
Total	$	30,876	$	51	$	274	$	31,201	$	33,210	$	51	$	498	$	33,759

*Includes nonaccrual troubled debt restructured loans of $830 thousand and $758 thousand at March 31, 2022 and December 31, 2021, respectively.

The following table presents the amortized cost basis of loans and leases held for investment on nonaccrual status and loans and leases held for investment 90 days or more past due and still accruing as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	Nonaccrual With No ACL		Nonaccrual With ACL		Total Nonaccrual		Loans and Leases 90 Days or more Past Due and Accruing Interest
At March 31, 2022
Commercial, financial and agricultural	$	448	$	—	$	448	$	—
Real estate-commercial	21,597		4,814		26,411		—
Real estate-residential secured for business purpose	1,120		—		1,120		—
Real estate-residential secured for personal purpose	2,259		—		2,259		—
Real estate-home equity secured for personal purpose	489		—		489		—
Loans to individuals	—		—		—		185
Lease financings	—		149		149		89
Total	$	25,913	$	4,963	$	30,876	$	274
At December 31, 2021
Commercial, financial and agricultural	$	448	$	—	$	448	$	—
Real estate-commercial	27,818		82		27,900		—
Real estate-residential secured for business purpose	2,187		—		2,187		216
Real estate-residential secured for personal purpose	2,049		—		2,049		—
Real estate-home equity secured for personal purpose	545		—		545		—
Loans to individuals	—		—		—		180
Lease financings	—		81		81		102
Total	$	33,047	$	163	$	33,210	$	498

For the three months ended March 31, 2022, $14 thousand of interest income was recognized on nonaccrual loans and leases.

The following table presents, by class of loans and leases, the amortized cost basis of collateral-dependent nonaccrual loans and leases and type of collateral as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	Real Estate		Other (1)		None (2)		Total
At March 31, 2022
Commercial, financial and agricultural	$	273	$	—	$	175	$	448
Real estate-commercial	26,411		—		—		26,411
Real estate-residential secured for business purpose	1,120		—		—		1,120
Real estate-residential secured for personal purpose	2,259		—		—		2,259
Real estate-home equity secured for personal purpose	489		—		—		489
Lease financings	—		149		—		149
Total	$	30,552	$	149	$	175	$	30,876
(Dollars in thousands)	Real Estate		Other (1)		None (2)		Total
At December 31, 2021
Commercial, financial and agricultural	$	273	$	—	$	175	$	448
Real estate-commercial	27,900		—		—		27,900
Real estate-residential secured for business purpose	2,187		—		—		2,187
Real estate-residential secured for personal purpose	2,049		—		—		2,049
Real estate-home equity secured for personal purpose	545		—		—		545
Lease financings	—		81		—		81
Total	$	32,954	$	81	$	175	$	33,210

(1) Collateral consists of business assets, including accounts receivable, personal property and equipment.

(2) Loans fully guaranteed by the SBA.

Credit Quality Indicators

The Corporation categorizes risk based on relevant information about the ability of the borrower to service their debt. Loans with a relationship balance of less than $1 million are reviewed when necessary based on their performance, primarily when such loans are delinquent. Loans with relationships greater than $1 million are reviewed at least annually. Loan relationships with a higher risk profile or classified as special mention or substandard are reviewed at least quarterly. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2021. The following is a description of the internal risk ratings and the likelihood of loss related to the credit quality of Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real estate-commercial loans, Real estate-construction loans and Real estate-residential secured for a business purpose loans.

1.Pass—Loans considered satisfactory with no indications of deterioration

2.Special Mention—Potential weakness that deserves management's close attention

3.Substandard—Well-defined weakness or weaknesses that jeopardize the liquidation of the debt

4.Doubtful—Collection or liquidation in-full, on the basis of current existing facts, conditions and values, highly questionable and improbable

Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real estate-commercial loans, Real estate-construction loans and Real estate-residential secured for a business purpose loans by credit quality indicator at March 31, 2022 and December 31, 2021.

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
At March 31, 2022
Commercial, Financial and Agricultural
Risk Rating
1. Pass	$	61,928	$	189,868	$	66,196	$	43,083	$	41,794	$	63,584	$	428,551	$	895,004
2. Special Mention	—		2,251		4,340		2,193		5,605		1,462		16,565		32,416
3. Substandard	—		—		—		—		—		200		4,865		5,065
Total	$	61,928	$	192,119	$	70,536	$	45,276	$	47,399	$	65,246	$	449,981	$	932,485
Paycheck Protection Program
Risk Rating
1. Pass	$	12	$	10,221	$	61	$	—	$	—	$	—	$	—	$	10,294
2. Special Mention	—		—		4		—		—		—		—		4
3. Substandard	—		—		—		—		—		—		—		—
Total	$	12	$	10,221	$	65	$	—	$	—	$	—	$	—	$	10,298
Real Estate-Commercial
Risk Rating
1. Pass	$	217,789	$	781,652	$	840,423	$	385,224	$	145,916	$	326,313	$	45,914	$	2,743,231
2. Special Mention	912		2,542		5,877		22,938		8,724		5,366		73		46,432
3. Substandard	—		—		22,087		3,499		237		1,251		—		27,074
Total	$	218,701	$	784,194	$	868,387	$	411,661	$	154,877	$	332,930	$	45,987	$	2,816,737
Real Estate-Construction
Risk Rating
1. Pass	$	27,984	$	120,060	$	42,327	$	35,566	$	—	$	273	$	9,913	$	236,123
2. Special Mention	—		23,889		500		4,571		20,000		—		—		48,960
3. Substandard	—		—		—		—		—		—		—		—
Total	$	27,984	$	143,949	$	42,827	$	40,137	$	20,000	$	273	$	9,913	$	285,083
Real Estate-Residential Secured for Business Purpose
Risk Rating
1. Pass	$	30,735	$	143,361	$	81,059	$	47,555	$	31,457	$	46,896	$	29,087	$	410,150
2. Special Mention	—		—		253		—		—		960		—		1,213
3. Substandard	—		—		—		—		43		929		151		1,123
Total	$	30,735	$	143,361	$	81,312	$	47,555	$	31,500	$	48,785	$	29,238	$	412,486
Totals By Risk Rating
1. Pass	$	338,448	$	1,245,162	$	1,030,066	$	511,428	$	219,167	$	437,066	$	513,465	$	4,294,802
2. Special Mention	912		28,682		10,974		29,702		34,329		7,788		16,638		129,025
3. Substandard	—		—		22,087		3,499		280		2,380		5,016		33,262
Total	$	339,360	$	1,273,844	$	1,063,127	$	544,629	$	253,776	$	447,234	$	535,119	$	4,457,089

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
At December 31, 2021
Commercial, Financial and Agricultural
Risk Rating
1. Pass	$	215,197	$	79,739	$	69,618	$	52,507	$	23,253	$	49,827	$	442,288	$	932,429
2. Special Mention	1,001		3,459		2,389		394		428		1,231		10,162		19,064
3. Substandard	—		—		—		—		16		200		4,687		4,903
Total	$	216,198	$	83,198	$	72,007	$	52,901	$	23,697	$	51,258	$	457,137	$	956,396
Paycheck Protection Program
Risk Rating
1. Pass	$	31,554	$	194	$	—	$	—	$	—	$	—	$	—	$	31,748
2. Special Mention	—		—		—		—		—		—		—		—
3. Substandard	—		—		—		—		—		—		—		—
Total	$	31,554	$	194	$	—	$	—	$	—	$	—	$	—	$	31,748
Real Estate-Commercial
Risk Rating
1. Pass	$	802,878	$	858,426	$	407,944	$	155,892	$	195,756	$	172,702	$	48,354	$	2,641,952
2. Special Mention	2,567		14,338		23,134		—		916		5,630		98		46,683
3. Substandard	—		22,055		3,405		1,995		1,110		1,335		—		29,900
Total	$	805,445	$	894,819	$	434,483	$	157,887	$	197,782	$	179,667	$	48,452	$	2,718,535
Real Estate-Construction
Risk Rating
1. Pass	$	137,622	$	59,952	$	38,592	$	9,995	$	198	$	—	$	8,543	$	254,902
2. Special Mention	4,684		500		3,832		20,000		—		—		—		29,016
3. Substandard	—		—		—		—		—		—		—		—
Total	$	142,306	$	60,452	$	42,424	$	29,995	$	198	$	—	$	8,543	$	283,918
Real Estate-Residential Secured for Business Purpose
Risk Rating
1. Pass	$	154,423	$	84,982	$	51,970	$	34,373	$	28,852	$	25,819	$	25,564	$	405,983
2. Special Mention	210		352		—		—		73		1,093		—		1,728
3. Substandard	—		—		—		45		24		1,549		571		2,189
Total	$	154,633	$	85,334	$	51,970	$	34,418	$	28,949	$	28,461	$	26,135	$	409,900
Totals By Risk Rating
1. Pass	$	1,341,674	$	1,083,293	$	568,124	$	252,767	$	248,059	$	248,348	$	524,749	$	4,267,014
2. Special Mention	8,462		18,649		29,355		20,394		1,417		7,954		10,260		96,491
3. Substandard	—		22,055		3,405		2,040		1,150		3,084		5,258		36,992
Total	$	1,350,136	$	1,123,997	$	600,884	$	275,201	$	250,626	$	259,386	$	540,267	$	4,400,497

The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021. The Corporation had no loans with a risk rating of Doubtful included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021.

The Corporation monitors the credit risk profile by payment activity for the following classifications of loans and leases: Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2021. Loans and leases past due 90 days or more, loans and leases on nonaccrual status and troubled debt restructured loans and lease modifications are considered nonperforming. Nonperforming loans and leases are reviewed monthly. Performing loans and leases have a nominal to moderate risk of loss. Performing loans and leases are reviewed only if the loan becomes 60 days or more past due.

Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings by credit quality indicator at March 31, 2022 and December 31, 2021.

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
At March 31, 2022
Real Estate-Residential Secured for Personal Purpose
Payment Performance
1. Performing	$	54,140	$	216,048	$	156,027	$	29,247	$	20,629	$	90,321	$	64	$	566,476
2. Nonperforming	—		52		621		—		371		1,215		—		2,259
Total	$	54,140	$	216,100	$	156,648	$	29,247	$	21,000	$	91,536	$	64	$	568,735
Real Estate-Home Equity Secured for Personal Purpose
Payment Performance
1. Performing	$	302	$	943	$	665	$	359	$	340	$	2,086	$	154,899	$	159,594
2. Nonperforming	—		—		—		—		171		57		312		540
Total	$	302	$	943	$	665	$	359	$	511	$	2,143	$	155,211	$	160,134
Loans to Individuals
Payment Performance
1. Performing	$	387	$	1,169	$	785	$	560	$	368	$	1,569	$	21,226	$	26,064
2. Nonperforming	—		—		—		—		—		185		—		185
Total	$	387	$	1,169	$	785	$	560	$	368	$	1,754	$	21,226	$	26,249
Lease Financings
Payment Performance
1. Performing	$	21,441	$	78,330	$	46,930	$	25,318	$	13,314	$	3,008	$	—	$	188,341
2. Nonperforming	—		162		14		35		17		10		—		238
Total	$	21,441	$	78,492	$	46,944	$	25,353	$	13,331	$	3,018	$	—	$	188,579
Totals by Payment Performance
1. Performing	$	76,270	$	296,490	$	204,407	$	55,484	$	34,651	$	96,984	$	176,189	$	940,475
2. Nonperforming	—		214		635		35		559		1,467		312		3,222
Total	$	76,270	$	296,704	$	205,042	$	55,519	$	35,210	$	98,451	$	176,501	$	943,697

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
At December 31, 2021
Real Estate-Residential Secured for Personal Purpose
Payment Performance
1. Performing	$	219,680	$	162,609	$	34,102	$	23,065	$	19,912	$	78,960	$	189	$	538,517
2. Nonperforming	53		634		—		371		—		991		—		2,049
Total	$	219,733	$	163,243	$	34,102	$	23,436	$	19,912	$	79,951	$	189	$	540,566
Real Estate-Home Equity Secured for Personal Purpose
Payment Performance
1. Performing	$	961	$	876	$	370	$	415	$	704	$	1,655	$	153,332	$	158,313
2. Nonperforming	—		—		—		173		—		60		363		596
Total	$	961	$	876	$	370	$	588	$	704	$	1,715	$	153,695	$	158,909
Loans to Individuals
Payment Performance
1. Performing	$	1,376	$	893	$	722	$	466	$	100	$	1,673	$	20,094	$	25,324
2. Nonperforming	—		—		—		—		—		180		—		180
Total	$	1,376	$	893	$	722	$	466	$	100	$	1,853	$	20,094	$	25,504
Lease Financings
Payment Performance
1. Performing	$	83,161	$	51,808	$	28,405	$	16,389	$	4,204	$	391	$	—	$	184,358
2. Nonperforming	—		14		64		58		7		40		—		183
Total	$	83,161	$	51,822	$	28,469	$	16,447	$	4,211	$	431	$	—	$	184,541
Totals by Payment Performance
1. Performing	$	305,178	$	216,186	$	63,599	$	40,335	$	24,920	$	82,679	$	173,615	$	906,512
2. Nonperforming	53		648		64		602		7		1,271		363		3,008
Total	$	305,231	$	216,834	$	63,663	$	40,937	$	24,927	$	83,950	$	173,978	$	909,520

The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021.

Allowance for Credit Losses on Loans and Leases and Recorded Investment in Loans and Leases

The allowance for credit losses (ACL) on loans decreased during the three months ended March 31, 2022 primarily due to favorable changes in economic-related assumptions, which were impacted by the ongoing recovery from the COVID-19 pandemic, partially offset by loan growth. There were no changes to the reasonable and supportable forecast period, the reversion period, or any significant methodology changes during the three months ended March 31, 2022. The following presents, by portfolio segment, a summary of the activity in the allowance for credit losses, loans and leases, for the three months ended March 31, 2022 and 2021:

(Dollars in thousands)	Beginning balance		Provision (reversal of provision) for credit losses		Charge-offs		Recoveries		Ending balance
Three Months Ended March 31, 2022
Allowance for credit losses, loans and leases:
Commercial, Financial and Agricultural	$	13,536	$	(1,671)	$	(214)	$	189	$	11,840
Paycheck Protection Program	2		(1)		—		—		1
Real Estate-Commercial	41,095		(669)		—		—		40,426
Real Estate-Construction	4,575		(941)		—		—		3,634
Real Estate-Residential Secured for Business Purpose	6,482		(328)		—		48		6,202
Real Estate-Residential Secured for Personal Purpose	2,403		189		—		—		2,592
Real Estate-Home Equity Secured for Personal Purpose	1,028		(53)		—		1		976
Loans to Individuals	363		57		(75)		24		369
Lease Financings	2,290		5		(59)		10		2,246
Unallocated	150		(150)		N /A		N/A		—
Total	$	71,924	$	(3,562)	$	(348)	$	272	$	68,286
Three Months Ended March 31, 2021
Allowance for credit losses, loans and leases:
Commercial, Financial and Agricultural	$	13,584	$	(3,078)	$	(338)	$	65	$	10,233
Real Estate-Commercial	52,230		(6,771)		—		—		45,459
Real Estate-Construction	3,298		(499)		—		—		2,799
Real Estate-Residential Secured for Business Purpose	7,317		(679)		—		54		6,692
Real Estate-Residential Secured for Personal Purpose	3,055		1		—		—		3,056
Real Estate-Home Equity Secured for Personal Purpose	1,176		79		—		2		1,257
Loans to Individuals	533		(58)		(56)		28		447
Lease Financings	1,701		(254)		(91)		48		1,404
Unallocated	150		—		N/A		N/A		150
Total	$	83,044	$	(11,259)	$	(485)	$	197	$	71,497

N/A – Not applicable

The following presents, by portfolio segment, the balance in the ACL on loans and leases, disaggregated on the basis of whether the loan or lease was measured for credit loss as a pooled loan or lease or if it was individually analyzed for a reserve at March 31, 2022 and 2021:

	Allowance for credit losses, loans and leases						Loans and leases held for investment
(Dollars in thousands)	Ending balance: individually analyzed		Ending balance: pooled		Total ending balance		Ending balance: individually analyzed		Ending balance: pooled		Loans measured at fair value		Total ending balance
At March 31, 2022
Commercial, Financial and Agricultural	$	—	$	11,840	$	11,840	$	448	$	932,037	$	—	$	932,485
Paycheck Protection Program	—		1		1		—		10,298		—		10,298
Real Estate-Commercial	954		39,472		40,426		26,411		2,790,313		13		2,816,737
Real Estate-Construction	—		3,634		3,634		—		285,083		—		285,083
Real Estate-Residential Secured for Business Purpose	—		6,202		6,202		1,120		411,366		—		412,486
Real Estate-Residential Secured for Personal Purpose	—		2,592		2,592		2,259		566,476		—		568,735
Real Estate-Home Equity Secured for Personal Purpose	—		976		976		489		159,645		—		160,134
Loans to Individuals	—		369		369		—		26,249		—		26,249
Lease Financings	—		2,246		2,246		—		188,579		—		188,579
Unallocated	N/A		—		—		N/A		N/A		N/A		N/A
Total	$	954	$	67,332	$	68,286	$	30,727	$	5,370,046	$	13	$	5,400,786
At March 31, 2021
Commercial, Financial and Agricultural	$	253	$	9,980	$	10,233	$	2,006	$	869,990	$	—	$	871,996
Paycheck Protection Program	—		—		—		—		528,452		—		528,452
Real Estate-Commercial	—		45,459		45,459		22,026		2,509,522		152		2,531,700
Real Estate-Construction	—		2,799		2,799		—		249,652		—		249,652
Real Estate-Residential Secured for Business Purpose	3		6,689		6,692		2,859		384,942		—		387,801
Real Estate-Residential Secured for Personal Purpose	25		3,031		3,056		1,867		492,482		—		494,349
Real Estate-Home Equity Secured for Personal Purpose	—		1,257		1,257		1,089		161,440		—		162,529
Loans to Individuals	—		447		447		—		25,468		—		25,468
Lease Financings	—		1,404		1,404		—		163,059		—		163,059
Unallocated	N/A		150		150		N/A		N/A		N/A		N/A
Total	$	281	$	71,216	$	71,497	$	29,847	$	5,385,007	$	152	$	5,415,006

N/A – Not applicable

Troubled Debt Restructured Loans

The following presents, by class of loans, information regarding troubled debt restructurings of accruing and nonaccrual loans.

	Three Months Ended March 31, 2022					Three Months Ended March 31, 2021
(Dollars in thousands)	Number of Loans	Pre- Restructuring Outstanding Recorded Investment		Post- Restructuring Outstanding Recorded Investment		Number of Loans	Pre- Restructuring Outstanding Recorded Investment		Post- Restructuring Outstanding Recorded Investment
Accruing Troubled Debt Restructured Loans:
Total	—	$	—	$	—	—	$	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Real estate—residential secured for business purpose	1	$	87	$	87	—	—		—
Total	1	$	87	$	87	—	$	—	$	—

The Corporation modified certain loans and leases via principal and/or interest deferrals in accordance with Section 4013 of the CARES Act, the Consolidated Appropriations Act, 2021 and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus and have not categorized these modifications as troubled debt restructurings. These loans and leases had a combined principal balance of approximately $2.7 million as of March 31, 2022, which represents approximately 0.1% of the loan portfolio, excluding PPP loans.

The following presents, by class of loans, information regarding the types of concessions granted on accruing and nonaccrual loans that were restructured during the three months ended March 31, 2022 and 2021.

	Maturity Date Extension
(Dollars in thousands)	No. of Loans	Amount
Three Months Ended March 31, 2022
Accruing Troubled Debt Restructured Loans:
Total	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Real estate—residential secured for business purpose	1	$	87
Total	1	$	87
Three Months Ended March 31, 2021
Accruing Troubled Debt Restructured Loans:
Total	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Total	—	$	—

There were no accruing or nonaccrual troubled debt restructured loans for which there were payment defaults within twelve months of the restructuring date for the three months ended March 31, 2022 or March 31, 2021.

There were no consumer mortgages collateralized by residential real estate property that were in the process of foreclosure at March 31, 2022 or December 31, 2021.

There was no foreclosed residential real estate property included in other real estate owned at March 31, 2022 or December 31, 2021.

Lease Financings

The following presents the schedule of minimum lease payments receivable:

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
2022 (excluding the three months ended March 31, 2022)	$	53,014	$	67,458
2023	59,657		54,859
2024	43,803		39,019
2025	28,588		24,426
2026	14,730		11,039
Thereafter	3,985		2,951
Total future minimum lease payments receivable	203,777		199,752
Plus: Unguaranteed residual	1,258		1,186
Plus: Initial direct costs	2,748		2,707
Less: Imputed interest	(19,204)		(19,104)
Lease financings	$	188,579	$	184,541

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Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The Corporation has goodwill from acquisitions which is deemed to be an indefinite intangible asset and is not amortized. Changes in the carrying amount of the Corporation's goodwill by business segment for the three months ended March 31, 2022 were as follows:

(Dollars in thousands)	Banking		Wealth Management		Insurance		Consolidated
Balance at December 31, 2021	$	138,476	$	15,434	$	21,600	$	175,510
Addition to goodwill from acquisitions	—		—		—		—
Balance at March 31, 2022	$	138,476	$	15,434	$	21,600	$	175,510

The Corporation also has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The following table reflects the components of intangible assets at the dates indicated:

	At March 31, 2022						At December 31, 2021
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	6,788	$	5,566	$	1,222	$	6,788	$	5,425	$	1,363
Customer related intangibles	8,493		6,053		2,440		8,493		5,886		2,607
Servicing rights	27,274		19,152		8,122		26,560		18,682		7,878
Total amortized intangible assets	$	42,555	$	30,771	$	11,784	$	41,841	$	29,993	$	11,848

(1) Included within accumulated amortization is a valuation allowance of $7 thousand and $13 thousand on servicing rights at March 31, 2022 and December 31, 2021, respectively.

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2022 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	849
2023		845
2024		648
2025		469
2026		319
Thereafter		532
Total		$	3,662

The aggregate fair value of servicing rights was $15.1 million and $11.3 million at March 31, 2022 and December 31, 2021, respectively. The fair value of these rights was determined using a discount rate of 10.2% at March 31, 2022 and December 31, 2021.

Changes in the servicing rights balance are summarized as follows:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Beginning of period	$	7,878	$	6,408
Servicing rights capitalized	714		1,313
Amortization of servicing rights	(476)		(792)
Changes in valuation allowance	6		86
End of period	$	8,122	$	7,015
Loans serviced for others	$	1,440,562	$	1,255,124

Activity in the valuation allowance for servicing rights was as follows:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Valuation allowance, beginning of period	$	(13)	$	(87)
Reductions	6		86
Valuation allowance, end of period	$	(7)	$	(1)

The estimated amortization expense of servicing rights for the remainder of 2022 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	1,130
2023		994
2024		871
2025		762
2026		664
Thereafter		3,701
Total		$	8,122

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Deposits

3 Months Ended

Mar. 31, 2022

Deposits [Abstract]

Deposits

Deposits

Deposits and their respective weighted average interest rate at March 31, 2022 and December 31, 2021 consisted of the following:

	At March 31, 2022				At December 31, 2021
	Weighted Average Interest Rate		Amount		Weighted Average Interest Rate		Amount
	(Dollars in thousands)
Noninterest-bearing deposits	—	%	$	2,136,467	—	%	$	2,065,423
Demand deposits	0.21		2,404,300		0.17		2,493,604
Savings deposits	0.08		1,040,890		0.04		1,011,931
Time deposits	1.05		466,275		1.06		484,166
Total	0.18	%	$	6,047,932	0.16	%	$	6,055,124

Deposits are insured up to applicable limits by the Deposit Insurance Fund of the FDIC, which is currently up to $250 thousand per account owner. The aggregate amount of time deposits in denominations over $250 thousand was $110.6 million at March 31, 2022 and $119.9 million at December 31, 2021.

At March 31, 2022, the scheduled maturities of time deposits are as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	198,418
2023		181,608
2024		50,943
2025		15,075
2026		3,576
Thereafter		16,655
Total		$	466,275

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Borrowings

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Borrowings

Borrowings

The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less.

	At March 31, 2022				At December 31, 2021
(Dollars in thousands)	Balance at End of Period		Weighted Average Interest Rate at End of Period		Balance at End of Period		Weighted Average Interest Rate at End of Period
Short-term borrowings:
Customer repurchase agreements	$	18,976	0.05	%	$	20,106	0.05	%
Long-term debt:
FHLB advances	$	95,000	1.34	%	$	95,000	1.34	%
Subordinated notes	$	98,952	5.31	%	$	98,874	5.31	%

The Corporation, through the Bank, has a credit facility with the Federal Home Loan Bank (the FHLB) with a maximum borrowing capacity of approximately $2.5 billion. All borrowings and letters of credit from the FHLB are secured by qualifying commercial real estate and residential mortgage loans, investments and other assets. At March 31, 2022 and December 31, 2021, the Bank had outstanding short-term letters of credit with the FHLB totaling $620.0 million and $831.8 million, respectively, which were utilized to collateralize public funds deposits and other secured deposits. The maximum borrowing capacity with the FHLB changes as a function of the Bank’s qualifying collateral assets as well as the FHLB’s internal credit rating of the Bank. The available borrowing capacity from the FHLB totaled $1.8 billion at March 31, 2022.    

The Corporation, through the Bank, holds collateral at the Federal Reserve Bank of Philadelphia to provide access to the Discount Window Lending program. The collateral, consisting of investment securities, was valued at $74.5 million and $28.8

million at March 31, 2022 and December 31, 2021, respectively. At March 31, 2022 and December 31, 2021, the Corporation had no outstanding borrowings under the Discount Window Lending program.

The Corporation has a $10.0 million committed line of credit with a correspondent bank. At March 31, 2022 and December 31, 2021, the Corporation had no outstanding borrowings under this line.

The Corporation and the Bank had $2.6 billion and $2.5 billion of committed borrowing capacity at March 31, 2022 and December 31, 2021, respectively, of which $1.9 billion and $1.6 billion was available as of March 31, 2022 and December 31, 2021, respectively. The Corporation, through the Bank, also maintained uncommitted funding sources from correspondent banks of $400.0 million at March 31, 2022 and December 31, 2021, which were fully available. Future availability under these lines is subject to the prerogatives of the granting banks and may be withdrawn at will.

Long-term advances with the FHLB of Pittsburgh mature as follows:

(Dollars in thousands)	As of March 31, 2022		Weighted Average Rate
Remainder of 2022	$	—	—	%
2023	35,000		1.94
2024	60,000		0.98
2025	—		—
2026	—		—
Thereafter	—		—
Total	$	95,000	1.34	%

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Retirement Plans and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Retirement Plans and Other Postretirement Benefits

Retirement Plans and Other Postretirement Benefits

Information with respect to the Retirement Plans and Other Postretirement Benefits follows: 

	Three Months Ended March 31,
	2022		2021		2022		2021
(Dollars in thousands)	Retirement Plans				Other Post Retirement Benefits
Service cost	$	137	$	130	$	30	$	36
Interest cost	390		354		24		21
Expected loss on plan assets	(933)		(892)		—		—
Amortization of net actuarial loss	204		317		14		12
Net periodic benefit (income) cost	$	(202)	$	(91)	$	68	$	69

The components of net periodic benefit cost other than the service cost component are included in other noninterest expense in the condensed consolidated statements of income.

The Corporation expects to make contributions of $156 thousand to the Retirement Plans and $96 thousand to Other Postretirement Benefit plans in 2022. During the three months ended March 31, 2022, the Corporation contributed $39 thousand to its non-qualified retirement plans and $24 thousand to its other postretirement plans. During the three months ended March 31, 2022, $697 thousand was paid to participants from the retirement plans and $24 thousand was paid to participants from the other postretirement plans.

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Stock-Based Incentive Plan

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Share-Based Incentive Plan

Stock-Based Incentive PlanThe Corporation maintains the 2013 Long-Term Incentive Plan, which replaced the expired 2003 Long-Term Incentive Plan. In December 2018, the Corporation's Board of Directors approved an Amended and Restated Univest 2013 Long-Term Incentive Plan (the Plan) to permit the issuance of restricted stock units.

The following is a summary of the Corporation's stock option activity and related information for the three months ended March 31, 2022:

(Dollars in thousands, except per share data)	Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value at March 31, 2022
Outstanding at December 31, 2021	351,252	$	25.74
Expired	(1,500)	14.80
Forfeited	(3,000)	28.33
Exercised	(25,781)	22.33
Outstanding at March 31, 2022	320,971	26.05		4.8	$	610
Exercisable at March 31, 2022	320,971	26.05		4.8	610

The Corporation did not issue stock options during the three months ended March 31, 2022 or March 31, 2021.

The following is a summary of nonvested restricted stock units at March 31, 2022 including changes during the three months then ended:

(Dollars in thousands, except per share data)	Nonvested Stock Units	Weighted Average Grant Date Fair Value
Nonvested stock units at December 31, 2021	358,134	$	23.61
Granted	164,319	28.36
Cancelled by performance factor	(555)	23.18
Vested	(118,834)	23.29
Forfeited	(1,864)	25.17
Nonvested stock units at March 31, 2022	401,200	$	25.61

Certain information regarding restricted stock units is summarized below for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands, except per share data)	2022		2021
Restricted stock units granted	164,319		139,007
Weighted average grant date fair value	$	28.36	$	27.67
Intrinsic value of units granted	$	4,660	$	3,847
Restricted stock units vested	118,834		85,731
Weighted average grant date fair value	$	23.29	$	22.68
Intrinsic value of units vested	$	3,377	$	2,354

The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested restricted stock units at March 31, 2022 is presented below:

(Dollars in thousands)	Unrecognized Compensation Cost		Weighted-Average Period Remaining (Years)
Restricted stock units	$	8,241	2.3

The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Stock-based compensation expense:
Stock options	$	—	$	62
Restricted stock units	934		812
Employee stock purchase plan	25		23
Total	$	959	$	897
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	$	1	$	33

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Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

Accumulated Other Comprehensive (Loss) Income

The following table shows the components of accumulated other comprehensive (loss) income, net of taxes, for the periods presented:

(Dollars in thousands)	Net Unrealized (Losses) Gains on Available-for-Sale Investment Securities		Net Change Related to Derivatives Used for Cash Flow Hedges		Net Change Related to Defined Benefit Pension Plans		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2021	$	(1,216)	$	(159)	$	(14,978)	$	(16,353)
Other comprehensive income	(15,842)		114		172		(15,556)
Balance, March 31, 2022	$	(17,058)	$	(45)	$	(14,806)	$	(31,909)
Balance, December 31, 2020	$	(1,379)	$	(421)	$	(20,344)	$	(22,144)
Other comprehensive income	1,379		65		260		1,704
Balance, March 31, 2021	$	—	$	(356)	$	(20,084)	$	(20,440)

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Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

Interest Rate Swaps

The Corporation periodically uses interest rate swap agreements to modify interest rate characteristics from variable to fixed or fixed to variable in order to reduce the impact of interest rate changes on future net interest income. The Corporation’s credit exposure on interest rate swaps includes fair value and any collateral that is held by a third party.

In 2014, the Corporation entered into an amortizing interest rate swap classified as a cash flow hedge with a notional amount of $20.0 million to hedge a portion of the debt financing of a pool of 10-year fixed rate loans that were originated in 2013 with balances totaling $29.1 million at time of the hedge. A brokered money market demand account with a balance exceeding the amortizing interest rate swap balance is being used for the cash flow hedge. Under the terms of the swap agreement, the Corporation pays a fixed rate of 2.10% and receives a floating rate of one-month LIBOR. The swap matures in November 2022. The Corporation performed an assessment of the hedge for effectiveness at the inception of the hedge and on a recurring basis to determine that the derivative has been and is expected to continue to be highly effective in offsetting changes in cash flows of the hedged item. At March 31, 2022, approximately $40 thousand in net deferred losses, net of tax, recorded in accumulated other comprehensive loss are expected to be reclassified into earnings during the next twelve months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to March 31, 2022. At March 31, 2022, the notional amount of the interest rate swap was $14.4 million and the fair value was a liability of $57 thousand.

The Corporation has an interest rate swap with a current notional amount of $11 thousand, for a 15-year fixed rate loan that is earning interest at 7.43%. The Corporation pays a fixed rate of 7.43% and receives a floating rate based on the one-month LIBOR plus 224 basis points. The swap matures in April 2022. The interest rate swap is carried at fair value in accordance with FASB ASC 815 "Derivatives and Hedging." The loan is carried at fair value under the fair value option as permitted by FASB ASC 825 "Financial Instruments."

Credit Derivatives

The Corporation has agreements with third-party financial institutions whereby the third-party financial institution enters into interest rate derivative contracts with loan customers referred to them by the Corporation. By the terms of the agreements, the third-party financial institution has recourse to the Corporation for any exposure created under each swap contract in the event the customer defaults on the swap agreement and the agreement is in a paying position to the third-party financial institution. These transactions represent credit derivatives and are a customary arrangement that allows the Corporation to provide access to interest rate swap transactions for customers without issuing the swap.

At March 31, 2022, the Corporation had 126 variable-rate to fixed-rate interest rate swap transactions between the third-party financial institution and customers with a current notional amount of $769.3 million and remaining maturities ranging from 1 month to 12 years. At March 31, 2022, the fair value of the Corporation's interest rate swap credit derivatives was a liability of $457 thousand. At March 31, 2022, the fair value of the swaps to the customers was a net liability of $2.1 million and all but one of these swaps were in paying positions to the third-party financial institution.

The maximum potential payments by the Corporation to the third-party financial institution under these credit derivatives are not estimable as they are contingent on future interest rates and the agreement does not provide for a limitation of the maximum potential payment amount.

Mortgage Banking Derivatives

Derivative loan commitments represent agreements for delayed delivery of financial instruments in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified instrument at a specified price or yield. The Corporation’s derivative loan commitments are commitments to sell loans secured by 1-to 4-family residential properties whose predominant risk characteristic is interest rate risk.

Derivatives Tables

The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the condensed consolidated balance sheets at March 31, 2022 and December 31, 2021. The Corporation pledges cash or securities to cover the negative fair value of derivative instruments. Cash collateral associated with derivative instruments are not added to or netted against the fair value amounts.

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2022
Interest rate swap - cash flow hedge	$	14,393		$	—	Other liabilities	$	57
Total	$	14,393		$	—		$	57
At December 31, 2021
Interest rate swap - cash flow hedge	$	14,611		$	—	Other liabilities	$	202
Total	$	14,611		$	—		$	202

The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the condensed consolidated balance sheets at March 31, 2022 and December 31, 2021:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2022
Interest rate swap	$	11		$	—	Other liabilities	$	2
Credit derivatives	769,329			—		Other liabilities	457
Interest rate locks with customers	39,524			—		Other liabilities	245
Forward loan sale commitments	54,045		Other assets	806			—
Total	$	862,909		$	806		$	704
At December 31, 2021
Interest rate swap	$	46		$	—	Other liabilities	$	2
Credit derivatives	755,576			—		Other liabilities	381
Interest rate locks with customers	33,876		Other assets	765			—
Forward loan sale commitments	55,476		Other assets	87			—
Total	$	844,974		$	852		$	383

The following table presents amounts included in the condensed consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended
		March 31,
(Dollars in thousands)		2022		2021
Interest rate swap—cash flow hedge—net interest payments	Interest expense	$	68	$	76
Total net loss		$	(68)	$	(76)

The following table presents amounts included in the condensed consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended
		March 31,
(Dollars in thousands)		2022		2021
Credit derivatives	Other noninterest income	$	450	$	1,107
Interest rate locks with customers	Net loss on mortgage banking activities	(1,010)		(1,730)
Forward loan sale commitments	Net gain on mortgage banking activities	719		1,974
Total net gain		$	159	$	1,351

The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at March 31, 2022 and December 31, 2021:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At March 31, 2022		At December 31, 2021
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(45)	$	(159)
Total		$	(45)	$	(159)

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Fair Value Disclosures

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value Disclosures

Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Corporation determines the fair value of financial instruments based on the fair value hierarchy. The Corporation maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Corporation. Unobservable inputs are inputs that reflect the Corporation’s assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances, including assumptions about risk. Three levels of inputs are used to measure fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement.

Level 1: Valuations are based on quoted prices in active markets for identical assets or liabilities that the Corporation can access at the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.

Level 2: Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3: Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Assets and liabilities utilizing Level 3 inputs include: financial instruments whose value is determined using pricing models, discounted cash-flow methodologies, or similar techniques, as well as instruments for which the fair value calculation requires significant management judgment or estimation.

Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Investment Securities

Where quoted prices are available in an active market for identical instruments, investment securities are classified within Level 1 of the valuation hierarchy. Level 1 investment securities include U.S. Treasury securities, most equity securities and money market mutual funds. Mutual funds are registered investment companies which are valued at net asset value of shares on a market exchange at the end of each trading day. Level 2 of the valuation hierarchy includes securities issued by U.S. Government sponsored enterprises, mortgage-backed securities, collateralized mortgage obligations, corporate and municipal bonds and certain equity securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. In cases where there is limited activity or less transparency around inputs to the valuation, investment securities are classified within Level 3 of the valuation hierarchy.

Fair values for securities are determined using independent pricing services and market-participating brokers. The Corporation’s independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the pricing service’s evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. If at any time, the pricing service determines that it does not have sufficient verifiable information to value a particular security, the Corporation will utilize valuations from another pricing service. Management has a sufficient understanding of the third-party service’s valuation models, assumptions and inputs used in determining the fair value of securities to enable management to maintain an appropriate system of internal control.

On a quarterly basis, the Corporation reviews changes, as submitted by the pricing service, in the market value of its security portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. If, upon the Corporation’s review or in comparing with another service, a material difference between pricing evaluations were to exist, the Corporation may submit an inquiry to the current pricing service regarding the data used to determine the valuation of a particular security. If the Corporation determines there is market information that would support a different valuation than from the current pricing service’s evaluation, the Corporation may utilize and change the security's valuation. There were no material differences in valuations noted at March 31, 2022.

Loans Held for Sale

The fair value of our loans held for sale is based on estimates using Level 2 inputs. These inputs are based on pricing information obtained from wholesale mortgage banks and brokers and applied to loans with similar interest rates and maturities.

Derivative Financial Instruments

The fair values of derivative financial instruments are based upon the estimated amount the Corporation would receive or pay to terminate the contracts or agreements, taking into account current interest rates and, when appropriate, the current creditworthiness of the counterparties. Interest rate swaps and mortgage banking derivative financial instruments are classified within Level 2 of the valuation hierarchy. Credit derivatives are valued based on credit worthiness of the underlying borrower which is a significant unobservable input and therefore classified in Level 3 of the valuation hierarchy.

One commercial loan associated with an interest rate swap is classified in Level 3 of the valuation hierarchy at March 31, 2022 since lending credit risk is not an observable input for this loan.

Contingent Consideration Liability

The Corporation estimates the fair value of the contingent consideration liability by using a discounted cash flow model of future contingent payments based on projected revenue related to the acquired business. The estimated fair value of the contingent consideration liability is reviewed on a quarterly basis and any valuation adjustments resulting from a change of estimated future contingent payments based on projected revenue of the acquired business affecting the contingent consideration liability will be recorded through noninterest expense. Due to the significant unobservable input related to the projected revenue, the contingent consideration liability is classified within Level 3 of the valuation hierarchy. An increase in the projected revenue may result in a higher fair value of the contingent consideration liability. Alternatively, a decrease in the projected revenue may result in a lower estimated fair value of the contingent consideration liability.

The following table presents the assets and liabilities measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021, classified using the fair value hierarchy:

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/ Liabilities at Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions	$	—	$	2,312	$	—	$	2,312
Residential mortgage-backed securities	—		256,688		—		256,688
Collateralized mortgage obligations	—		2,947		—		2,947
Corporate bonds	—		88,047		—		88,047
Total available-for-sale securities	—		349,994		—		349,994
Equity securities:
Equity securities - financial services industry	980		—		—		980
Money market mutual funds	1,589		—		—		1,589
Total equity securities	2,569		—		—		2,569
Loans*	—		—		13		13
Loans held for sale	—		14,521		—		14,521
Forward loan sale commitments*	—		806		—		806
Total assets	$	2,569	$	365,321	$	13	$	367,903
Liabilities:
Contingent consideration liability	$	—	$	—	$	1,663	$	1,663
Interest rate swaps*	—		59		—		59
Credit derivatives*	—		—		457		457
Interest rate locks with customers*	—		245		—		245
Total liabilities	$	—	$	304	$	2,120	$	2,424

* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $457 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which was obtained from real-time financial market data, of 126 interest rate swaps with a notional amount of $769.3 million. The March 31, 2022 CVA assumed a zero-deal recovery percentage based on the most recent index credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was $1.6 million, which was calculated using a discount rate of 8.3%. The potential cash payments that could result from the contingent consideration arrangement for the acquisition ranged from $0 to a maximum of $1.9 million over the three-year period ending November 30, 2024.

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/ Liabilities at Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions	$	—	$	2,333	$	—	$	2,333
Residential mortgage-backed securities	—		221,105		—		221,105
Collateralized mortgage obligations	—		3,278		—		3,278
Corporate bonds	—		90,291		—		90,291
Total available-for-sale securities	—		317,007		—		317,007
Equity securities:
Equity securities - financial services industry	979		—		—		979
Money market mutual funds	2,020		—		—		2,020
Total equity securities	2,999		—		—		2,999
Loans*	—		—		48		48
Loans held for sale	—		21,600		—		21,600
Interest rate locks with customers*	—		765		—		765
Forward loan sale commitments*	—		87		—		87
Total assets	$	2,999	$	339,459	$	48	$	342,506
Liabilities:
Contingent consideration liability	$	—	$	—	$	1,629	$	1,629
Interest rate swaps*	—		204		—		204
Credit derivatives*	—		—		381		381
Total liabilities	$	—	$	204	$	2,010	$	2,214

* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $381 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which was obtained from real-time financial market data, of 125 interest rate swaps with a notional amount of $755.6 million. The December 31, 2021 CVA assumed a zero-deal recovery percentage based on the most recent index credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was $1.6 million, which was calculated using a discount rate of 8.3%. The potential cash payments that could result from the contingent consideration arrangement for the acquisition ranged from $0 to a maximum of $1.9 million over the three-year period ending November 30, 2024.

The following table includes a roll forward 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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
(Dollars in thousands)	Balance at December 31, 2021		Additions		Payments received		Increase (decrease) in value		Balance at March 31, 2022
Loans	$	48	$	—	$	(35)	$	—	$	13
Credit derivatives	(381)		(526)		—		450		(457)
Net total	$	(333)	$	(526)	$	(35)	$	450	$	(444)

	Three Months Ended March 31, 2021
(Dollars in thousands)	Balance at December 31, 2020		Additions		Payments received		Increase (decrease) in value		Balance at March 31, 2021
Corporate bonds	$	9,600	$	—	$	—	$	—	$	9,600
Loans	187		—		(33)		(2)		152
Credit derivatives	(535)		(843)		—		1,107		(271)
Net total	$	9,252	$	(843)	$	(33)	$	1,105	$	9,481

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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
(Dollars in thousands)	Balance at December 31, 2021		Payment of Contingent Consideration		Adjustment of Contingent Consideration		Balance at March 31, 2022
Paul I. Sheaffer Insurance Agency	$	1,629	$	—	$	34	$	1,663
Total contingent consideration liability	$	1,629	$	—	$	34	$	1,663

	Three Months Ended March 31, 2021
(Dollars in thousands)	Balance at December 31, 2020		Payment of Contingent Consideration		Adjustment of Contingent Consideration		Balance at March 31, 2021
Girard Partners	$	55	$	29	$	2	$	28
Total contingent consideration liability	$	55	$	29	$	2	$	28

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 March 31, 2022 and December 31, 2021:

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets at Fair Value
Individually analyzed loans held for investment	$	—	$	—	$	29,773	$	29,773
Other real estate owned	—		—		279		279
Total	$	—	$	—	$	30,052	$	30,052

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets at Fair Value
Individually analyzed loans held for investment	$	—	$	—	$	33,118	$	33,118
Other real estate owned	—		—		279		279
Total	$	—	$	—	$	33,397	$	33,397

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 March 31, 2022 and December 31, 2021. The disclosed fair values are classified using the fair value hierarchy.

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Fair Value		Carrying Amount
Assets:
Cash and short-term interest-earning assets	$	773,781	$	—	$	—	$	773,781	$	773,781
Held-to-maturity securities	—		157,924		—		157,924		166,339
Federal Home Loan Bank, Federal Reserve Bank and other stock	NA		NA		NA		NA		26,330
Net loans and leases held for investment	—		—		5,290,440		5,290,440		5,302,714
Servicing rights	—		—		15,106		15,106		8,122
Total assets	$	773,781	$	157,924	$	5,305,546	$	6,237,251	$	6,277,286
Liabilities:
Deposits:
Demand and savings deposits, non-maturity	$	5,581,657	$	—	$	—	$	5,581,657	$	5,581,657
Time deposits	—		460,580		—		460,580		466,275
Total deposits	5,581,657		460,580		—		6,042,237		6,047,932
Short-term borrowings	—		18,976		—		18,976		18,976
Long-term debt	—		93,343		—		93,343		95,000
Subordinated notes	—		102,250		—		102,250		98,952
Total liabilities	$	5,581,657	$	675,149	$	—	$	6,256,806	$	6,260,860

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Fair Value		Carrying Amount
Assets:
Cash and short-term interest-earning assets	$	890,150	$	—	$	—	$	890,150	$	890,150
Held-to-maturity securities	—		178,402		—		178,402		176,983
Federal Home Loan Bank, Federal Reserve Bank and other stock	NA		NA		NA		NA		28,186
Net loans and leases held for investment	—		—		5,244,504		5,244,504		5,204,927
Servicing rights	—		—		11,331		11,331		7,878
Total assets	$	890,150	$	178,402	$	5,255,835	$	6,324,387	$	6,308,124
Liabilities:
Deposits:
Demand and savings deposits, non-maturity	$	5,570,958	$	—	$	—	$	5,570,958	$	5,570,958
Time deposits	—		487,874		—		487,874		484,166
Total deposits	5,570,958		487,874		—		6,058,832		6,055,124
Short-term borrowings	—		20,106		—		20,106		20,106
Long-term debt	—		95,707		—		95,707		95,000
Subordinated notes	—		107,000		—		107,000		98,874
Total liabilities	$	5,570,958	$	710,687	$	—	$	6,281,645	$	6,269,104

The following valuation methods and assumptions were used by the Corporation in estimating the fair value for financial instruments measured at fair value on a non-recurring basis and financial instruments 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:

Cash and short-term interest-earning assets: The carrying amounts reported in the balance sheet for cash and due from banks, interest-earning deposits with other banks and other short-term investments is their stated value. Cash and short-term interest-earning assets are classified within Level 1 in the fair value hierarchy.

Held-to-maturity securities: Fair values for the held-to-maturity investment securities are estimated by using pricing models or quoted prices of securities with similar characteristics and are classified in Level 2 in the fair value hierarchy.

Federal Home Loan Bank, Federal Reserve Bank and other stock: It is not practical to determine the fair values of Federal Home Loan Bank, Federal Reserve Bank and other stock, due to restrictions placed on their transferability.

Loans held for sale: Loans held for sale are carried at the lower of cost or estimated fair value. The fair value of the Corporation’s mortgage loans held for sale are generally determined using a pricing model based on current market information obtained from external sources, including interest rates, bids or indications provided by market participants on specific loans that are actively marketed for sale. These loans are primarily residential mortgage loans and are generally classified in Level 2 due to the observable pricing data.

Loans and leases held for investment: The fair values for loans and leases held for investment are estimated using discounted cash flow analyses, using a discount rate based on current interest rates at which similar loans with similar terms would be made to borrowers, adjusted as appropriate to consider credit, liquidity and marketability factors to arrive at a fair value that represents the Corporation's exit price at which these instruments would be sold or transferred. Loans and leases are classified within Level 3 in the fair value hierarchy since credit risk is not an observable input.

Individually analyzed loans and leases held for investment: For individually analyzed loans and leases, the Corporation uses a variety of techniques to measure fair value, such as using the current appraised value of the collateral, agreements of sale, discounting the contractual cash flows, and analyzing market data that the Corporation may adjust due to specific characteristics of the loan/lease or collateral. At March 31, 2022, individually analyzed loans held for investment had a carrying amount of $30.7 million with a valuation allowance of $954 thousand. At December 31, 2021, individually analyzed loans held for investment had a carrying amount of $33.1 million with a valuation allowance of $11 thousand. The Corporation had no individually analyzed leases at March 31, 2022 or December 31, 2021.

Servicing rights: The Corporation estimates the fair value of servicing rights using discounted cash flow models that calculate the present value of estimated future net servicing income. The model uses readily available prepayment speed assumptions for the interest rates of the portfolios serviced. Servicing rights are classified within Level 3 in the fair value hierarchy based upon management's assessment of the inputs. The Corporation reviews the servicing rights portfolio on a quarterly basis for impairment and the servicing rights are carried at the lower of amortized cost or estimated fair value. At March 31, 2022, servicing rights had a net carrying amount of $8.1 million, which included a valuation allowance of $7 thousand. At December 31, 2021, servicing rights had a net carrying amount of $7.9 million, which included a valuation allowance of $13 thousand.

Goodwill and other identifiable assets: Certain non-financial assets subject to measurement at fair value on a non-recurring basis include goodwill and other identifiable intangible assets. During the three months ended March 31, 2022, there were no required valuation adjustments of goodwill and other identifiable intangible assets.

Other real estate owned: Other real estate owned (OREO) represents properties that the Corporation has acquired through foreclosure by either accepting a deed in lieu of foreclosure, or by taking possession of assets that were used as loan collateral. The Corporation reports OREO at the lower of cost or fair value less cost to sell, adjusted periodically based on a current appraisal or an executed agreement of sale. Capital improvement expenses associated with the construction or repair of the property are capitalized as part of the cost of the OREO asset. Write-downs and any gain or loss upon the sale of OREO is recorded in other noninterest income. OREO is reported in other assets on the condensed consolidated balance sheet. At March 31, 2022 and December 31, 2021, OREO had a carrying amount of $279 thousand. Other real estate owned is classified within Level 3 of the valuation hierarchy due to the unique characteristics of the collateral for each loan.

Deposit liabilities: The fair values for demand and savings accounts, with no stated maturities, is the amount payable on demand at the reporting date (carrying value) and are classified within Level 1 in the fair value hierarchy. The fair values for

time deposits with fixed maturities are estimated by discounting the final maturity using interest rates currently offered for deposits with similar remaining maturities. Time deposits are classified within Level 2 in the fair value hierarchy.

Short-term borrowings: The fair value of short-term borrowings are estimated using current market rates for similar borrowings and are classified within Level 2 in the fair value hierarchy.

Long-term debt: The fair value of long-term debt is estimated by using discounted cash flow analysis, based on current market rates for debt with similar terms and remaining maturities. Long-term debt is classified within Level 2 in the fair value hierarchy.

Subordinated notes: The fair value of the subordinated notes are estimated by discounting the principal balance using the treasury yield curve for the term to the call date as the Corporation has the option to call the subordinated notes. The subordinated notes are classified within Level 2 in the fair value hierarchy.

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Segment Reporting

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

At March 31, 2022, the Corporation had three reportable business segments: Banking, Wealth Management and Insurance. The Corporation determines the segments based primarily upon product and service offerings, through the types of income generated and the regulatory environment. This is strategically how the Corporation operates and has positioned itself in the marketplace. Accordingly, significant operating decisions are based upon analysis of each of these segments. The parent holding company and intercompany eliminations are included in the "Other" segment.

Each segment generates revenue from a variety of products and services it provides. Examples of products and services provided for each reportable segment are indicated as follows:

● The Banking segment provides financial services to individuals, businesses, municipalities and nonprofit organizations. These services include a full range of banking services such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing.

● The Wealth Management segment offers investment advisory, financial planning, trust and brokerage services. The Wealth Management segment serves a diverse client base of private families and individuals, municipal pension plans, retirement plans, trusts and guardianships.

● The Insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, employee benefit solutions, personal insurance lines and human resources consulting.

The following table provides total assets by reportable business segment as of the dates indicated.

(Dollars in thousands)	At March 31, 2022		At December 31, 2021		At March 31, 2021
Banking	$	6,997,081	$	7,005,952	$	6,313,108
Wealth Management	53,174		54,076		48,016
Insurance	42,240		40,649		37,075
Other	15,245		21,744		18,466
Consolidated assets	$	7,107,740	$	7,122,421	$	6,416,665

The following tables provide reportable segment-specific information and reconciliations to consolidated financial information for the three months ended March 31, 2022 and 2021.

	Three Months Ended
	March 31, 2022
(Dollars in thousands)	Banking		Wealth Management		Insurance		Other		Consolidated
Interest income	$	51,189	$	1	$	—	$	8	$	51,198
Interest expense	3,180		30		—		1,328		4,538
Net interest income (expense)	48,009		(29)		—		(1,320)		46,660
Reversal of provision for credit losses	(3,450)		—		—		—		(3,450)
Noninterest income	7,370		7,305		5,764		31		20,470
Noninterest expense	36,488		4,709		3,865		350		45,412
Intersegment (revenue) expense*	(433)		211		222		—		—
Income (loss) before income taxes	22,774		2,356		1,677		(1,639)		25,168
Income tax expense (benefit)	4,543		492		358		(542)		4,851
Net income (loss)	$	18,231	$	1,864	$	1,319	$	(1,097)	$	20,317
Net capital expenditures	$	(5,592)	$	63	$	15	$	20	$	(5,494)

	Three Months Ended
	March 31, 2021
(Dollars in thousands)	Banking		Wealth Management		Insurance		Other		Consolidated
Interest income	$	51,449	$	—	$	—	$	8	$	51,457
Interest expense	3,719		31		—		2,293		6,043
Net interest income (expense)	47,730		(31)		—		(2,285)		45,414
Reversal of provision for credit losses	(11,283)		—		—		—		(11,283)
Noninterest income	11,230		6,773		5,105		142		23,250
Noninterest expense	30,601		4,086		3,304		1,549		39,540
Intersegment (revenue) expense*	(323)		164		159		—		—
Income (loss) before income taxes	39,965		2,492		1,641		(3,692)		40,407
Income tax expense (benefit)	8,255		514		351		(1,316)		7,804
Net income (loss)	$	31,710	$	1,978	$	1,290	$	(2,376)	$	32,603
Net capital expenditures	$	1,111	$	5	$	9	$	62	$	1,187

*Includes an allocation of general and administrative expenses from both the parent holding company and the Bank. These expenses are generally allocated based upon number of employees and square footage utilized.

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Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies Disclosure	ContingenciesThe Corporation is periodically subject to various pending and threatened legal actions, which involve claims for monetary relief. Based upon information presently available to the Corporation, it is the Corporation's opinion that any legal and financial responsibility arising from such claims will not have a material adverse effect on the Corporation's results of operations, financial position or cash flows.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation and Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Univest Financial Corporation (the Corporation) and its wholly owned subsidiaries. The Corporation’s direct subsidiary is Univest Bank and Trust Co. (the Bank). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations for interim financial information. The accompanying unaudited consolidated financial statements reflect all adjustments, which are of a normal recurring nature and are, in the opinion of management, necessary for a fair presentation of the financial statements for the interim periods presented. Certain prior period amounts have been reclassified to conform to the current-period presentation. Operating results for the three-month period ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ended December 31, 2022 or for any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 25, 2022.

Use of Estimates

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes include the fair value measurement of investment securities available-for-sale and the calculation of the allowance for credit losses.

Recent Accounting Pronouncements

Accounting Pronouncements Adopted in 2022

In January 2020, the FASB issued ASU No. 2020-01, "Investments—Equity Securities (Topic 321): Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." This ASU 2020-01 clarifies the interactions between ASC 321, ASC 323 and ASC 815 and addresses accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. This ASU became effective on January 1, 2022 for the Corporation. The adoption of this ASU did not have a material impact on the Corporation's financial statements.

In August 2020, the FASB issued ASU No. 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)." This guidance simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU also simplify the guidance in ASC 815-40 by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and require entities to presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. This ASU became effective on January 1, 2022 for the Corporation. The adoption of this ASU did not have a material impact on the Corporation's financial statements.

In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method." ASU 2022-01 addresses and clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amends the guidance in ASU 2017-12 that established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. This ASU allows entities to designate multiple hedging relationships with a single closed portfolio, including both prepayable and non-prepayable financial assets, and therefore a larger portion of the interest rate risk associated with such a portfolio is eligible to be hedged.

This ASU is effective for fiscal years beginning after December 15, 2022 or January 1, 2023 for the Corporation, including interim periods within those fiscal years. Early adoption, however, is permitted if an entity has adopted the amendments in ASU 2017-12. The Corporation has elected to early adopt this ASU, and the adoption of this ASU did not have a material impact on the Corporation's financial statements.

Recent Accounting Pronouncements Yet to Be Adopted

In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted CECL and enhance the disclosure requirements for modifications of receivables made with borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs by year of origination for financing receivables and net investment in leases in the existing vintage disclosures. This ASU is effective for fiscal years beginning after December 15, 2022 or January 1, 2023 for the Corporation, including interim periods within those fiscal years for entities that have adopted CECL. Early adoption is permitted if an entity has adopted CECL. The Corporation is in the process of evaluating the amendments but does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements.

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Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share, Basic and Diluted [Abstract]

Summary of Computation for Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share. For additional information on the calculation of basic and diluted earnings per share, see Note 1, "Summary of Significant Accounting Policies - Earnings per Share" of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2021.

	Three Months Ended
	March 31,
(Dollars and shares in thousands, except per share data)	2022		2021
Numerator:
Net income	$	20,317	$	32,603
Net income allocated to unvested restricted stock awards	—		(37)
Net income allocated to common shares	$	20,317	$	32,566
Denominator:
Weighted average shares outstanding	29,542		29,329
Average unvested restricted stock awards	—		(32)
Denominator for basic earnings per share—weighted-average shares outstanding	29,542		29,297
Effect of dilutive securities—employee stock options and restricted stock units	196		135
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,738		29,432
Basic earnings per share	$	0.69	$	1.11
Diluted earnings per share	$	0.68	$	1.11
Average antidilutive options and restricted stock units excluded from computation of diluted earnings per share	249		315

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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of HTM Securities and Available For Sale securities by Contractual Maturities

The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at March 31, 2022 and December 31, 2021, by contractual maturity within each type:

	At March 31, 2022
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
Within 1 year	$	2,000	$	8	$	—	$	—	$	2,008
	2,000		8		—		—		2,008
Residential mortgage-backed securities:
After 1 year to 5 years	1,188		—		(16)		—		1,172
After 5 years to 10 years	5,858		7		(32)		—		5,833
Over 10 years	157,293		268		(8,650)		—		148,911
	164,339		275		(8,698)		—		155,916
Total	$	166,339	$	283	$	(8,698)	$	—	$	157,924
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years	$	2,326	$	1	$	(15)	$	—	$	2,312
	2,326		1		(15)		—		2,312
Residential mortgage-backed securities:
Within 1 year	21		—		—		—		21
After 1 year to 5 years	370		—		(4)		—		366
After 5 years to 10 years	3,533		—		(48)		—		3,485
Over 10 years	271,817		32		(19,033)		—		252,816
	275,741		32		(19,085)		—		256,688
Collateralized mortgage obligations:
After 5 years to 10 years	439		—		(7)		—		432
Over 10 years	2,631		—		(116)		—		2,515
	3,070		—		(123)		—		2,947
Corporate bonds:
Within 1 year	1,500		—		—		—		1,500
After 1 year to 5 years	29,726		64		(561)		(85)		29,144
After 5 years to 10 years	60,497		—		(1,904)		(1,190)		57,403
	91,723		64		(2,465)		(1,275)		88,047
Total	$	372,860	$	97	$	(21,688)	$	(1,275)	$	349,994

	At December 31, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
Within 1 year	$	6,999	$	34	$	—	$	—	$	7,033
	6,999		34		—		—		7,033
Residential mortgage-backed securities:
After 5 years to 10 years	5,208		194		—		—		5,402
Over 10 years	164,776		2,175		(984)		—		165,967
	169,984		2,369		(984)		—		171,369
Total	$	176,983	$	2,403	$	(984)	$	—	$	178,402
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years	$	2,326	$	7	$	—	$	—	$	2,333
	2,326		7		—		—		2,333
Residential mortgage-backed securities:
Within 1 year	31		—		—		—		31
After 1 year to 5 years	153		5		—		—		158
After 5 years to 10 years	2,286		82		—		—		2,368
Over 10 years	220,153		671		(2,276)		—		218,548
	222,623		758		(2,276)		—		221,105
Collateralized mortgage obligations:
After 5 years to 10 years	481		7		—		—		488
Over 10 years	2,813		—		(23)		—		2,790
	3,294		7		(23)		—		3,278
Corporate bonds:
Within 1 year	2,500		4		—		—		2,504
After 1 year to 5 years	28,731		755		(67)		(51)		29,368
After 5 years to 10 years	60,000		—		(703)		(878)		58,419
	91,231		759		(770)		(929)		90,291
Total	$	319,474	$	1,531	$	(3,069)	$	(929)	$	317,007

Information Related to Sales of Securities Available-for-Sale

The following table presents information related to sales of securities available-for-sale during the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Securities available-for-sale:
Proceeds from sales	$	1,530	$	1,563
Gross realized gains on sales	30		65
Tax expense related to net realized gains on sales	6		14

Amount of Securities in Unrealized Loss Position

The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2022 and December 31, 2021, by the length of time those securities were in a continuous loss position.

	Less than Twelve Months				Twelve Months or Longer				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
At March 31, 2022
Securities Held-to-Maturity
Residential mortgage-backed securities	$	129,937	$	(8,276)	$	3,872	$	(422)	$	133,809	$	(8,698)
Total	$	129,937	$	(8,276)	$	3,872	$	(422)	$	133,809	$	(8,698)
Securities Available-for-Sale
State and political subdivisions	$	1,281	$	(15)	$	—	$	—	$	1,281	$	(15)
Residential mortgage-backed securities	205,772		(13,887)		48,596		(5,198)		254,368		(19,085)
Collateralized mortgage obligations	2,947		(123)		—		—		2,947		(123)
Corporate bonds	1,280		(1)		—		—		1,280		(1)
Total	$	211,280	$	(14,026)	$	48,596	$	(5,198)	$	259,876	$	(19,224)
At December 31, 2021
Securities Held-to-Maturity
Residential mortgage-backed securities	$	89,837	$	(984)	$	—	$	—	$	89,837	$	(984)
Total	$	89,837	$	(984)	$	—	$	—	$	89,837	$	(984)
Securities Available-for-Sale
Residential mortgage-backed securities	$	164,326	$	(1,816)	$	12,097	$	(460)	$	176,423	$	(2,276)
Collateralized mortgage obligations	2,790		(23)		—		—		2,790		(23)
Corporate bonds	779		(1)		—		—		779		(1)
Total	$	167,895	$	(1,840)	$	12,097	$	(460)	$	179,992	$	(2,300)

Available-for-sale Securities, Allowance for Credit Loss Rollforward

The table below presents a rollforward by major security type for the three months ended March 31, 2022 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)	Corporate Bonds
Three months ended March 31, 2022
Securities Available-for-Sale
Beginning balance	$	(929)
Additions for securities for which no previous expected credit losses were recognized	(45)
Change in securities for which a previous expected credit loss was recognized	(301)
Ending balance	$	(1,275)
Three months ended March 31, 2021
Securities Available-for-Sale
Beginning balance	$	(869)
Additions for securities for which no previous expected credit losses were recognized	(19)
Change in securities for which a previous expected credit loss was recognized	403
Ending balance	$	(485)

XML

Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Summary of Major Loan and Lease Categories

Summary of Major Loan and Lease Categories

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
Commercial, financial and agricultural	$	932,485	$	956,396
Paycheck Protection Program	10,298		31,748
Real estate-commercial	2,816,737		2,718,535
Real estate-construction	285,083		283,918
Real estate-residential secured for business purpose	412,486		409,900
Real estate-residential secured for personal purpose	568,735		540,566
Real estate-home equity secured for personal purpose	160,134		158,909
Loans to individuals	26,249		25,504
Lease financings	188,579		184,541
Total loans and leases held for investment, net of deferred income	$	5,400,786	$	5,310,017
Less: Allowance for credit losses, loans and leases	(68,286)		(71,924)
Net loans and leases held for investment	$	5,332,500	$	5,238,093
Imputed interest on lease financings, included in the above table	$	(19,204)	$	(19,104)
Net deferred costs, included in the above table	4,324		3,408
Overdraft deposits included in the above table	3,286		4,268

Schedule of Age Analysis of Past Due Loans and Leases

Age Analysis of Past Due Loans and Leases

The following presents, by class of loans and leases held for investment, an aging of past due loans and leases, loans and leases which are current and nonaccrual loans and leases at March 31, 2022 and December 31, 2021:

	Accruing Loans and Leases
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or more Past Due		Total Past Due		Current		Total Accruing Loans and Leases		Nonaccrual Loans and Leases		Total Loans and Leases Held for Investment
At March 31, 2022
Commercial, financial and agricultural	$	4,880	$	—	$	—	$	4,880	$	927,157	$	932,037	$	448	$	932,485
Paycheck Protection Program	—		—		—		—		10,298		10,298		—		10,298
Real estate—commercial real estate and construction:
Commercial real estate	2,833		—		—		2,833		2,787,493		2,790,326		26,411		2,816,737
Construction	—		—		—		—		285,083		285,083		—		285,083
Real estate—residential and home equity:
Residential secured for business purpose	294		89		—		383		410,983		411,366		1,120		412,486
Residential secured for personal purpose	1,112		—		—		1,112		565,364		566,476		2,259		568,735
Home equity secured for personal purpose	77		20		—		97		159,548		159,645		489		160,134
Loans to individuals	34		14		185		233		26,016		26,249		—		26,249
Lease financings	221		124		89		434		187,996		188,430		149		188,579
Total	$	9,451	$	247	$	274	$	9,972	$	5,359,938	$	5,369,910	$	30,876	$	5,400,786

	Accruing Loans and Leases
(Dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or more Past Due		Total Past Due		Current		Total Accruing Loans and Leases		Nonaccrual Loans and Leases		Total Loans and Leases Held for Investment
At December 31, 2021
Commercial, financial and agricultural	$	3,407	$	894	$	—	$	4,301	$	951,647	$	955,948	$	448	$	956,396
Paycheck Protection Program	367		—		—		367		31,381		31,748		—		31,748
Real estate—commercial real estate and construction:
Commercial real estate	234		—		—		234		2,690,401		2,690,635		27,900		2,718,535
Construction	—		—		—		—		283,918		283,918		—		283,918
Real estate—residential and home equity:
Residential secured for business purpose	542		—		216		758		406,955		407,713		2,187		409,900
Residential secured for personal purpose	2,976		162		—		3,138		535,379		538,517		2,049		540,566
Home equity secured for personal purpose	646		129		—		775		157,589		158,364		545		158,909
Loans to individuals	90		27		180		297		25,207		25,504		—		25,504
Lease financings	774		397		102		1,273		183,187		184,460		81		184,541
Total	$	9,036	$	1,609	$	498	$	11,143	$	5,265,664	$	5,276,807	$	33,210	$	5,310,017

Schedule of Nonperforming Loans and Leases

Nonperforming Loans and Leases

The following presents, by class of loans and leases, nonperforming loans and leases at March 31, 2022 and December 31, 2021.

	At March 31, 2022								At December 31, 2021
(Dollars in thousands)	Nonaccrual Loans and Leases*		Accruing Troubled Debt Restructured Loans and Lease Modifications		Loans and Leases 90 Days or more Past Due and Accruing Interest		Total Nonperforming Loans and Leases		Nonaccrual Loans and Leases*		Accruing Troubled Debt Restructured Loans and Lease Modifications		Loans and Leases 90 Days or more Past Due and Accruing Interest		Total Nonperforming Loans and Leases
Commercial, financial and agricultural	$	448	$	—	$	—	$	448	$	448	$	—	$	—	$	448
Real estate—commercial real estate and construction:
Commercial real estate	26,411		—		—		26,411		27,900		—		—		27,900
Real estate—residential and home equity:
Residential secured for business purpose	1,120		—		—		1,120		2,187		—		216		2,403
Residential secured for personal purpose	2,259		—		—		2,259		2,049		—		—		2,049
Home equity secured for personal purpose	489		51		—		540		545		51		—		596
Loans to individuals	—		—		185		185		—		—		180		180
Lease financings	149		—		89		238		81		—		102		183
Total	$	30,876	$	51	$	274	$	31,201	$	33,210	$	51	$	498	$	33,759

*Includes nonaccrual troubled debt restructured loans of $830 thousand and $758 thousand at March 31, 2022 and December 31, 2021, respectively.

Nonaccrual Loan and Lease Data

The following table presents the amortized cost basis of loans and leases held for investment on nonaccrual status and loans and leases held for investment 90 days or more past due and still accruing as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	Nonaccrual With No ACL		Nonaccrual With ACL		Total Nonaccrual		Loans and Leases 90 Days or more Past Due and Accruing Interest
At March 31, 2022
Commercial, financial and agricultural	$	448	$	—	$	448	$	—
Real estate-commercial	21,597		4,814		26,411		—
Real estate-residential secured for business purpose	1,120		—		1,120		—
Real estate-residential secured for personal purpose	2,259		—		2,259		—
Real estate-home equity secured for personal purpose	489		—		489		—
Loans to individuals	—		—		—		185
Lease financings	—		149		149		89
Total	$	25,913	$	4,963	$	30,876	$	274
At December 31, 2021
Commercial, financial and agricultural	$	448	$	—	$	448	$	—
Real estate-commercial	27,818		82		27,900		—
Real estate-residential secured for business purpose	2,187		—		2,187		216
Real estate-residential secured for personal purpose	2,049		—		2,049		—
Real estate-home equity secured for personal purpose	545		—		545		—
Loans to individuals	—		—		—		180
Lease financings	—		81		81		102
Total	$	33,047	$	163	$	33,210	$	498

For the three months ended March 31, 2022, $14 thousand of interest income was recognized on nonaccrual loans and leases.

The following table presents, by class of loans and leases, the amortized cost basis of collateral-dependent nonaccrual loans and leases and type of collateral as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	Real Estate		Other (1)		None (2)		Total
At March 31, 2022
Commercial, financial and agricultural	$	273	$	—	$	175	$	448
Real estate-commercial	26,411		—		—		26,411
Real estate-residential secured for business purpose	1,120		—		—		1,120
Real estate-residential secured for personal purpose	2,259		—		—		2,259
Real estate-home equity secured for personal purpose	489		—		—		489
Lease financings	—		149		—		149
Total	$	30,552	$	149	$	175	$	30,876
(Dollars in thousands)	Real Estate		Other (1)		None (2)		Total
At December 31, 2021
Commercial, financial and agricultural	$	273	$	—	$	175	$	448
Real estate-commercial	27,900		—		—		27,900
Real estate-residential secured for business purpose	2,187		—		—		2,187
Real estate-residential secured for personal purpose	2,049		—		—		2,049
Real estate-home equity secured for personal purpose	545		—		—		545
Lease financings	—		81		—		81
Total	$	32,954	$	81	$	175	$	33,210

(1) Collateral consists of business assets, including accounts receivable, personal property and equipment.

(2) Loans fully guaranteed by the SBA.

Summary of Commercial Credit Quality Indicators

Credit Quality Indicators

The Corporation categorizes risk based on relevant information about the ability of the borrower to service their debt. Loans with a relationship balance of less than $1 million are reviewed when necessary based on their performance, primarily when such loans are delinquent. Loans with relationships greater than $1 million are reviewed at least annually. Loan relationships with a higher risk profile or classified as special mention or substandard are reviewed at least quarterly. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2021. The following is a description of the internal risk ratings and the likelihood of loss related to the credit quality of Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real estate-commercial loans, Real estate-construction loans and Real estate-residential secured for a business purpose loans.

1.Pass—Loans considered satisfactory with no indications of deterioration

2.Special Mention—Potential weakness that deserves management's close attention

3.Substandard—Well-defined weakness or weaknesses that jeopardize the liquidation of the debt

4.Doubtful—Collection or liquidation in-full, on the basis of current existing facts, conditions and values, highly questionable and improbable

Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real estate-commercial loans, Real estate-construction loans and Real estate-residential secured for a business purpose loans by credit quality indicator at March 31, 2022 and December 31, 2021.

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
At March 31, 2022
Commercial, Financial and Agricultural
Risk Rating
1. Pass	$	61,928	$	189,868	$	66,196	$	43,083	$	41,794	$	63,584	$	428,551	$	895,004
2. Special Mention	—		2,251		4,340		2,193		5,605		1,462		16,565		32,416
3. Substandard	—		—		—		—		—		200		4,865		5,065
Total	$	61,928	$	192,119	$	70,536	$	45,276	$	47,399	$	65,246	$	449,981	$	932,485
Paycheck Protection Program
Risk Rating
1. Pass	$	12	$	10,221	$	61	$	—	$	—	$	—	$	—	$	10,294
2. Special Mention	—		—		4		—		—		—		—		4
3. Substandard	—		—		—		—		—		—		—		—
Total	$	12	$	10,221	$	65	$	—	$	—	$	—	$	—	$	10,298
Real Estate-Commercial
Risk Rating
1. Pass	$	217,789	$	781,652	$	840,423	$	385,224	$	145,916	$	326,313	$	45,914	$	2,743,231
2. Special Mention	912		2,542		5,877		22,938		8,724		5,366		73		46,432
3. Substandard	—		—		22,087		3,499		237		1,251		—		27,074
Total	$	218,701	$	784,194	$	868,387	$	411,661	$	154,877	$	332,930	$	45,987	$	2,816,737
Real Estate-Construction
Risk Rating
1. Pass	$	27,984	$	120,060	$	42,327	$	35,566	$	—	$	273	$	9,913	$	236,123
2. Special Mention	—		23,889		500		4,571		20,000		—		—		48,960
3. Substandard	—		—		—		—		—		—		—		—
Total	$	27,984	$	143,949	$	42,827	$	40,137	$	20,000	$	273	$	9,913	$	285,083
Real Estate-Residential Secured for Business Purpose
Risk Rating
1. Pass	$	30,735	$	143,361	$	81,059	$	47,555	$	31,457	$	46,896	$	29,087	$	410,150
2. Special Mention	—		—		253		—		—		960		—		1,213
3. Substandard	—		—		—		—		43		929		151		1,123
Total	$	30,735	$	143,361	$	81,312	$	47,555	$	31,500	$	48,785	$	29,238	$	412,486
Totals By Risk Rating
1. Pass	$	338,448	$	1,245,162	$	1,030,066	$	511,428	$	219,167	$	437,066	$	513,465	$	4,294,802
2. Special Mention	912		28,682		10,974		29,702		34,329		7,788		16,638		129,025
3. Substandard	—		—		22,087		3,499		280		2,380		5,016		33,262
Total	$	339,360	$	1,273,844	$	1,063,127	$	544,629	$	253,776	$	447,234	$	535,119	$	4,457,089

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
At December 31, 2021
Commercial, Financial and Agricultural
Risk Rating
1. Pass	$	215,197	$	79,739	$	69,618	$	52,507	$	23,253	$	49,827	$	442,288	$	932,429
2. Special Mention	1,001		3,459		2,389		394		428		1,231		10,162		19,064
3. Substandard	—		—		—		—		16		200		4,687		4,903
Total	$	216,198	$	83,198	$	72,007	$	52,901	$	23,697	$	51,258	$	457,137	$	956,396
Paycheck Protection Program
Risk Rating
1. Pass	$	31,554	$	194	$	—	$	—	$	—	$	—	$	—	$	31,748
2. Special Mention	—		—		—		—		—		—		—		—
3. Substandard	—		—		—		—		—		—		—		—
Total	$	31,554	$	194	$	—	$	—	$	—	$	—	$	—	$	31,748
Real Estate-Commercial
Risk Rating
1. Pass	$	802,878	$	858,426	$	407,944	$	155,892	$	195,756	$	172,702	$	48,354	$	2,641,952
2. Special Mention	2,567		14,338		23,134		—		916		5,630		98		46,683
3. Substandard	—		22,055		3,405		1,995		1,110		1,335		—		29,900
Total	$	805,445	$	894,819	$	434,483	$	157,887	$	197,782	$	179,667	$	48,452	$	2,718,535
Real Estate-Construction
Risk Rating
1. Pass	$	137,622	$	59,952	$	38,592	$	9,995	$	198	$	—	$	8,543	$	254,902
2. Special Mention	4,684		500		3,832		20,000		—		—		—		29,016
3. Substandard	—		—		—		—		—		—		—		—
Total	$	142,306	$	60,452	$	42,424	$	29,995	$	198	$	—	$	8,543	$	283,918
Real Estate-Residential Secured for Business Purpose
Risk Rating
1. Pass	$	154,423	$	84,982	$	51,970	$	34,373	$	28,852	$	25,819	$	25,564	$	405,983
2. Special Mention	210		352		—		—		73		1,093		—		1,728
3. Substandard	—		—		—		45		24		1,549		571		2,189
Total	$	154,633	$	85,334	$	51,970	$	34,418	$	28,949	$	28,461	$	26,135	$	409,900
Totals By Risk Rating
1. Pass	$	1,341,674	$	1,083,293	$	568,124	$	252,767	$	248,059	$	248,348	$	524,749	$	4,267,014
2. Special Mention	8,462		18,649		29,355		20,394		1,417		7,954		10,260		96,491
3. Substandard	—		22,055		3,405		2,040		1,150		3,084		5,258		36,992
Total	$	1,350,136	$	1,123,997	$	600,884	$	275,201	$	250,626	$	259,386	$	540,267	$	4,400,497

The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021. The Corporation had no loans with a risk rating of Doubtful included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021.

Summary of Credit Exposure

The Corporation monitors the credit risk profile by payment activity for the following classifications of loans and leases: Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2021. Loans and leases past due 90 days or more, loans and leases on nonaccrual status and troubled debt restructured loans and lease modifications are considered nonperforming. Nonperforming loans and leases are reviewed monthly. Performing loans and leases have a nominal to moderate risk of loss. Performing loans and leases are reviewed only if the loan becomes 60 days or more past due.

Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings by credit quality indicator at March 31, 2022 and December 31, 2021.

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
At March 31, 2022
Real Estate-Residential Secured for Personal Purpose
Payment Performance
1. Performing	$	54,140	$	216,048	$	156,027	$	29,247	$	20,629	$	90,321	$	64	$	566,476
2. Nonperforming	—		52		621		—		371		1,215		—		2,259
Total	$	54,140	$	216,100	$	156,648	$	29,247	$	21,000	$	91,536	$	64	$	568,735
Real Estate-Home Equity Secured for Personal Purpose
Payment Performance
1. Performing	$	302	$	943	$	665	$	359	$	340	$	2,086	$	154,899	$	159,594
2. Nonperforming	—		—		—		—		171		57		312		540
Total	$	302	$	943	$	665	$	359	$	511	$	2,143	$	155,211	$	160,134
Loans to Individuals
Payment Performance
1. Performing	$	387	$	1,169	$	785	$	560	$	368	$	1,569	$	21,226	$	26,064
2. Nonperforming	—		—		—		—		—		185		—		185
Total	$	387	$	1,169	$	785	$	560	$	368	$	1,754	$	21,226	$	26,249
Lease Financings
Payment Performance
1. Performing	$	21,441	$	78,330	$	46,930	$	25,318	$	13,314	$	3,008	$	—	$	188,341
2. Nonperforming	—		162		14		35		17		10		—		238
Total	$	21,441	$	78,492	$	46,944	$	25,353	$	13,331	$	3,018	$	—	$	188,579
Totals by Payment Performance
1. Performing	$	76,270	$	296,490	$	204,407	$	55,484	$	34,651	$	96,984	$	176,189	$	940,475
2. Nonperforming	—		214		635		35		559		1,467		312		3,222
Total	$	76,270	$	296,704	$	205,042	$	55,519	$	35,210	$	98,451	$	176,501	$	943,697

	Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
At December 31, 2021
Real Estate-Residential Secured for Personal Purpose
Payment Performance
1. Performing	$	219,680	$	162,609	$	34,102	$	23,065	$	19,912	$	78,960	$	189	$	538,517
2. Nonperforming	53		634		—		371		—		991		—		2,049
Total	$	219,733	$	163,243	$	34,102	$	23,436	$	19,912	$	79,951	$	189	$	540,566
Real Estate-Home Equity Secured for Personal Purpose
Payment Performance
1. Performing	$	961	$	876	$	370	$	415	$	704	$	1,655	$	153,332	$	158,313
2. Nonperforming	—		—		—		173		—		60		363		596
Total	$	961	$	876	$	370	$	588	$	704	$	1,715	$	153,695	$	158,909
Loans to Individuals
Payment Performance
1. Performing	$	1,376	$	893	$	722	$	466	$	100	$	1,673	$	20,094	$	25,324
2. Nonperforming	—		—		—		—		—		180		—		180
Total	$	1,376	$	893	$	722	$	466	$	100	$	1,853	$	20,094	$	25,504
Lease Financings
Payment Performance
1. Performing	$	83,161	$	51,808	$	28,405	$	16,389	$	4,204	$	391	$	—	$	184,358
2. Nonperforming	—		14		64		58		7		40		—		183
Total	$	83,161	$	51,822	$	28,469	$	16,447	$	4,211	$	431	$	—	$	184,541
Totals by Payment Performance
1. Performing	$	305,178	$	216,186	$	63,599	$	40,335	$	24,920	$	82,679	$	173,615	$	906,512
2. Nonperforming	53		648		64		602		7		1,271		363		3,008
Total	$	305,231	$	216,834	$	63,663	$	40,937	$	24,927	$	83,950	$	173,978	$	909,520

The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at March 31, 2022 or December 31, 2021.

Summary of Activity in the Allowance for Credit Losses, Loans and Leases

Allowance for Credit Losses on Loans and Leases and Recorded Investment in Loans and Leases

The allowance for credit losses (ACL) on loans decreased during the three months ended March 31, 2022 primarily due to favorable changes in economic-related assumptions, which were impacted by the ongoing recovery from the COVID-19 pandemic, partially offset by loan growth. There were no changes to the reasonable and supportable forecast period, the reversion period, or any significant methodology changes during the three months ended March 31, 2022. The following presents, by portfolio segment, a summary of the activity in the allowance for credit losses, loans and leases, for the three months ended March 31, 2022 and 2021:

(Dollars in thousands)	Beginning balance		Provision (reversal of provision) for credit losses		Charge-offs		Recoveries		Ending balance
Three Months Ended March 31, 2022
Allowance for credit losses, loans and leases:
Commercial, Financial and Agricultural	$	13,536	$	(1,671)	$	(214)	$	189	$	11,840
Paycheck Protection Program	2		(1)		—		—		1
Real Estate-Commercial	41,095		(669)		—		—		40,426
Real Estate-Construction	4,575		(941)		—		—		3,634
Real Estate-Residential Secured for Business Purpose	6,482		(328)		—		48		6,202
Real Estate-Residential Secured for Personal Purpose	2,403		189		—		—		2,592
Real Estate-Home Equity Secured for Personal Purpose	1,028		(53)		—		1		976
Loans to Individuals	363		57		(75)		24		369
Lease Financings	2,290		5		(59)		10		2,246
Unallocated	150		(150)		N /A		N/A		—
Total	$	71,924	$	(3,562)	$	(348)	$	272	$	68,286
Three Months Ended March 31, 2021
Allowance for credit losses, loans and leases:
Commercial, Financial and Agricultural	$	13,584	$	(3,078)	$	(338)	$	65	$	10,233
Real Estate-Commercial	52,230		(6,771)		—		—		45,459
Real Estate-Construction	3,298		(499)		—		—		2,799
Real Estate-Residential Secured for Business Purpose	7,317		(679)		—		54		6,692
Real Estate-Residential Secured for Personal Purpose	3,055		1		—		—		3,056
Real Estate-Home Equity Secured for Personal Purpose	1,176		79		—		2		1,257
Loans to Individuals	533		(58)		(56)		28		447
Lease Financings	1,701		(254)		(91)		48		1,404
Unallocated	150		—		N/A		N/A		150
Total	$	83,044	$	(11,259)	$	(485)	$	197	$	71,497

N/A – Not applicable

Schedule of Allowance for Loan and Lease Credit Losses and Recorded Investment in Loans and Leases

The following presents, by portfolio segment, the balance in the ACL on loans and leases, disaggregated on the basis of whether the loan or lease was measured for credit loss as a pooled loan or lease or if it was individually analyzed for a reserve at March 31, 2022 and 2021:

	Allowance for credit losses, loans and leases						Loans and leases held for investment
(Dollars in thousands)	Ending balance: individually analyzed		Ending balance: pooled		Total ending balance		Ending balance: individually analyzed		Ending balance: pooled		Loans measured at fair value		Total ending balance
At March 31, 2022
Commercial, Financial and Agricultural	$	—	$	11,840	$	11,840	$	448	$	932,037	$	—	$	932,485
Paycheck Protection Program	—		1		1		—		10,298		—		10,298
Real Estate-Commercial	954		39,472		40,426		26,411		2,790,313		13		2,816,737
Real Estate-Construction	—		3,634		3,634		—		285,083		—		285,083
Real Estate-Residential Secured for Business Purpose	—		6,202		6,202		1,120		411,366		—		412,486
Real Estate-Residential Secured for Personal Purpose	—		2,592		2,592		2,259		566,476		—		568,735
Real Estate-Home Equity Secured for Personal Purpose	—		976		976		489		159,645		—		160,134
Loans to Individuals	—		369		369		—		26,249		—		26,249
Lease Financings	—		2,246		2,246		—		188,579		—		188,579
Unallocated	N/A		—		—		N/A		N/A		N/A		N/A
Total	$	954	$	67,332	$	68,286	$	30,727	$	5,370,046	$	13	$	5,400,786
At March 31, 2021
Commercial, Financial and Agricultural	$	253	$	9,980	$	10,233	$	2,006	$	869,990	$	—	$	871,996
Paycheck Protection Program	—		—		—		—		528,452		—		528,452
Real Estate-Commercial	—		45,459		45,459		22,026		2,509,522		152		2,531,700
Real Estate-Construction	—		2,799		2,799		—		249,652		—		249,652
Real Estate-Residential Secured for Business Purpose	3		6,689		6,692		2,859		384,942		—		387,801
Real Estate-Residential Secured for Personal Purpose	25		3,031		3,056		1,867		492,482		—		494,349
Real Estate-Home Equity Secured for Personal Purpose	—		1,257		1,257		1,089		161,440		—		162,529
Loans to Individuals	—		447		447		—		25,468		—		25,468
Lease Financings	—		1,404		1,404		—		163,059		—		163,059
Unallocated	N/A		150		150		N/A		N/A		N/A		N/A
Total	$	281	$	71,216	$	71,497	$	29,847	$	5,385,007	$	152	$	5,415,006

N/A – Not applicable

Schedule of Accruing and Nonaccruing Troubled Debt Restructured Loans

The following presents, by class of loans, information regarding troubled debt restructurings of accruing and nonaccrual loans.

	Three Months Ended March 31, 2022					Three Months Ended March 31, 2021
(Dollars in thousands)	Number of Loans	Pre- Restructuring Outstanding Recorded Investment		Post- Restructuring Outstanding Recorded Investment		Number of Loans	Pre- Restructuring Outstanding Recorded Investment		Post- Restructuring Outstanding Recorded Investment
Accruing Troubled Debt Restructured Loans:
Total	—	$	—	$	—	—	$	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Real estate—residential secured for business purpose	1	$	87	$	87	—	—		—
Total	1	$	87	$	87	—	$	—	$	—

Schedule of Concessions Granted on Accruing and Nonaccrual Troubled Loans

The following presents, by class of loans, information regarding the types of concessions granted on accruing and nonaccrual loans that were restructured during the three months ended March 31, 2022 and 2021.

	Maturity Date Extension
(Dollars in thousands)	No. of Loans	Amount
Three Months Ended March 31, 2022
Accruing Troubled Debt Restructured Loans:
Total	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Real estate—residential secured for business purpose	1	$	87
Total	1	$	87
Three Months Ended March 31, 2021
Accruing Troubled Debt Restructured Loans:
Total	—	$	—
Nonaccrual Troubled Debt Restructured Loans:
Total	—	$	—

Schedule of Lease Payments Receivables

The following presents the schedule of minimum lease payments receivable:

(Dollars in thousands)	At March 31, 2022		At December 31, 2021
2022 (excluding the three months ended March 31, 2022)	$	53,014	$	67,458
2023	59,657		54,859
2024	43,803		39,019
2025	28,588		24,426
2026	14,730		11,039
Thereafter	3,985		2,951
Total future minimum lease payments receivable	203,777		199,752
Plus: Unguaranteed residual	1,258		1,186
Plus: Initial direct costs	2,748		2,707
Less: Imputed interest	(19,204)		(19,104)
Lease financings	$	188,579	$	184,541

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Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill

The Corporation has goodwill from acquisitions which is deemed to be an indefinite intangible asset and is not amortized. Changes in the carrying amount of the Corporation's goodwill by business segment for the three months ended March 31, 2022 were as follows:

(Dollars in thousands)	Banking		Wealth Management		Insurance		Consolidated
Balance at December 31, 2021	$	138,476	$	15,434	$	21,600	$	175,510
Addition to goodwill from acquisitions	—		—		—		—
Balance at March 31, 2022	$	138,476	$	15,434	$	21,600	$	175,510

Components of Intangible Assets

The Corporation also has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The following table reflects the components of intangible assets at the dates indicated:

	At March 31, 2022						At December 31, 2021
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	6,788	$	5,566	$	1,222	$	6,788	$	5,425	$	1,363
Customer related intangibles	8,493		6,053		2,440		8,493		5,886		2,607
Servicing rights	27,274		19,152		8,122		26,560		18,682		7,878
Total amortized intangible assets	$	42,555	$	30,771	$	11,784	$	41,841	$	29,993	$	11,848

(1) Included within accumulated amortization is a valuation allowance of $7 thousand and $13 thousand on servicing rights at March 31, 2022 and December 31, 2021, respectively.

Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2022 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	849
2023		845
2024		648
2025		469
2026		319
Thereafter		532
Total		$	3,662

Changes In Servicing Rights

Changes in the servicing rights balance are summarized as follows:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Beginning of period	$	7,878	$	6,408
Servicing rights capitalized	714		1,313
Amortization of servicing rights	(476)		(792)
Changes in valuation allowance	6		86
End of period	$	8,122	$	7,015
Loans serviced for others	$	1,440,562	$	1,255,124

Activity In Valuation Allowance For Servicing Rights

Activity in the valuation allowance for servicing rights was as follows:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Valuation allowance, beginning of period	$	(13)	$	(87)
Reductions	6		86
Valuation allowance, end of period	$	(7)	$	(1)

Estimated Amortization Expense of Servicing Rights

The estimated amortization expense of servicing rights for the remainder of 2022 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	1,130
2023		994
2024		871
2025		762
2026		664
Thereafter		3,701
Total		$	8,122

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Deposits (Tables)

3 Months Ended

Mar. 31, 2022

Deposits [Abstract]

Schedule of Components of Weighted Average Interest Rate and Balance of Deposits

Deposits and their respective weighted average interest rate at March 31, 2022 and December 31, 2021 consisted of the following:

	At March 31, 2022				At December 31, 2021
	Weighted Average Interest Rate		Amount		Weighted Average Interest Rate		Amount
	(Dollars in thousands)
Noninterest-bearing deposits	—	%	$	2,136,467	—	%	$	2,065,423
Demand deposits	0.21		2,404,300		0.17		2,493,604
Savings deposits	0.08		1,040,890		0.04		1,011,931
Time deposits	1.05		466,275		1.06		484,166
Total	0.18	%	$	6,047,932	0.16	%	$	6,055,124

Schedule Of Maturities Of Time Deposits

At March 31, 2022, the scheduled maturities of time deposits are as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2022		$	198,418
2023		181,608
2024		50,943
2025		15,075
2026		3,576
Thereafter		16,655
Total		$	466,275

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Borrowings (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Summary of Borrowings by Type

The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less.

	At March 31, 2022				At December 31, 2021
(Dollars in thousands)	Balance at End of Period		Weighted Average Interest Rate at End of Period		Balance at End of Period		Weighted Average Interest Rate at End of Period
Short-term borrowings:
Customer repurchase agreements	$	18,976	0.05	%	$	20,106	0.05	%
Long-term debt:
FHLB advances	$	95,000	1.34	%	$	95,000	1.34	%
Subordinated notes	$	98,952	5.31	%	$	98,874	5.31	%

Schedule of Maturities of Long-Term FHLB Advances

Long-term advances with the FHLB of Pittsburgh mature as follows:

(Dollars in thousands)	As of March 31, 2022		Weighted Average Rate
Remainder of 2022	$	—	—	%
2023	35,000		1.94
2024	60,000		0.98
2025	—		—
2026	—		—
Thereafter	—		—
Total	$	95,000	1.34	%

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Retirement Plans and Other Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost (Income)

Information with respect to the Retirement Plans and Other Postretirement Benefits follows: 

	Three Months Ended March 31,
	2022		2021		2022		2021
(Dollars in thousands)	Retirement Plans				Other Post Retirement Benefits
Service cost	$	137	$	130	$	30	$	36
Interest cost	390		354		24		21
Expected loss on plan assets	(933)		(892)		—		—
Amortization of net actuarial loss	204		317		14		12
Net periodic benefit (income) cost	$	(202)	$	(91)	$	68	$	69

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Stock-Based Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Status of Options Granted Under Long-Term Incentive Plan

The following is a summary of the Corporation's stock option activity and related information for the three months ended March 31, 2022:

(Dollars in thousands, except per share data)	Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value at March 31, 2022
Outstanding at December 31, 2021	351,252	$	25.74
Expired	(1,500)	14.80
Forfeited	(3,000)	28.33
Exercised	(25,781)	22.33
Outstanding at March 31, 2022	320,971	26.05		4.8	$	610
Exercisable at March 31, 2022	320,971	26.05		4.8	610

Summary of Nonvested Restricted Stock Units

The following is a summary of nonvested restricted stock units at March 31, 2022 including changes during the three months then ended:

(Dollars in thousands, except per share data)	Nonvested Stock Units	Weighted Average Grant Date Fair Value
Nonvested stock units at December 31, 2021	358,134	$	23.61
Granted	164,319	28.36
Cancelled by performance factor	(555)	23.18
Vested	(118,834)	23.29
Forfeited	(1,864)	25.17
Nonvested stock units at March 31, 2022	401,200	$	25.61

Certain Information Regarding Restricted Stock

Certain information regarding restricted stock units is summarized below for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands, except per share data)	2022		2021
Restricted stock units granted	164,319		139,007
Weighted average grant date fair value	$	28.36	$	27.67
Intrinsic value of units granted	$	4,660	$	3,847
Restricted stock units vested	118,834		85,731
Weighted average grant date fair value	$	23.29	$	22.68
Intrinsic value of units vested	$	3,377	$	2,354

Schedule of Unrecognized Compensation Cost, Nonvested Restricted Stock Units

The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested restricted stock units at March 31, 2022 is presented below:

(Dollars in thousands)	Unrecognized Compensation Cost		Weighted-Average Period Remaining (Years)
Restricted stock units	$	8,241	2.3

Compensation Expense Related to Stock Incentive Plans Recognized

The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands)	2022		2021
Stock-based compensation expense:
Stock options	$	—	$	62
Restricted stock units	934		812
Employee stock purchase plan	25		23
Total	$	959	$	897
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	$	1	$	33

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Accumulated Other Comprehensive (Loss) Income (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive (Loss) Income, Net of Taxes

The following table shows the components of accumulated other comprehensive (loss) income, net of taxes, for the periods presented:

(Dollars in thousands)	Net Unrealized (Losses) Gains on Available-for-Sale Investment Securities		Net Change Related to Derivatives Used for Cash Flow Hedges		Net Change Related to Defined Benefit Pension Plans		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2021	$	(1,216)	$	(159)	$	(14,978)	$	(16,353)
Other comprehensive income	(15,842)		114		172		(15,556)
Balance, March 31, 2022	$	(17,058)	$	(45)	$	(14,806)	$	(31,909)
Balance, December 31, 2020	$	(1,379)	$	(421)	$	(20,344)	$	(22,144)
Other comprehensive income	1,379		65		260		1,704
Balance, March 31, 2021	$	—	$	(356)	$	(20,084)	$	(20,440)

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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts and Fair Value of Derivatives Designated as Hedging Instruments

The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the condensed consolidated balance sheets at March 31, 2022 and December 31, 2021. The Corporation pledges cash or securities to cover the negative fair value of derivative instruments. Cash collateral associated with derivative instruments are not added to or netted against the fair value amounts.

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2022
Interest rate swap - cash flow hedge	$	14,393		$	—	Other liabilities	$	57
Total	$	14,393		$	—		$	57
At December 31, 2021
Interest rate swap - cash flow hedge	$	14,611		$	—	Other liabilities	$	202
Total	$	14,611		$	—		$	202

Notional Amounts and Fair Value of Derivatives Not Designated as Hedging Instruments

The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the condensed consolidated balance sheets at March 31, 2022 and December 31, 2021:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2022
Interest rate swap	$	11		$	—	Other liabilities	$	2
Credit derivatives	769,329			—		Other liabilities	457
Interest rate locks with customers	39,524			—		Other liabilities	245
Forward loan sale commitments	54,045		Other assets	806			—
Total	$	862,909		$	806		$	704
At December 31, 2021
Interest rate swap	$	46		$	—	Other liabilities	$	2
Credit derivatives	755,576			—		Other liabilities	381
Interest rate locks with customers	33,876		Other assets	765			—
Forward loan sale commitments	55,476		Other assets	87			—
Total	$	844,974		$	852		$	383

Income for Derivatives Designated as Hedging Instruments

The following table presents amounts included in the condensed consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended
		March 31,
(Dollars in thousands)		2022		2021
Interest rate swap—cash flow hedge—net interest payments	Interest expense	$	68	$	76
Total net loss		$	(68)	$	(76)

Income for Derivatives Not Designated as Hedging Instruments

The following table presents amounts included in the condensed consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended
		March 31,
(Dollars in thousands)		2022		2021
Credit derivatives	Other noninterest income	$	450	$	1,107
Interest rate locks with customers	Net loss on mortgage banking activities	(1,010)		(1,730)
Forward loan sale commitments	Net gain on mortgage banking activities	719		1,974
Total net gain		$	159	$	1,351

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at March 31, 2022 and December 31, 2021:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At March 31, 2022		At December 31, 2021
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(45)	$	(159)
Total		$	(45)	$	(159)

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Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 and December 31, 2021, classified using the fair value hierarchy:

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/ Liabilities at Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions	$	—	$	2,312	$	—	$	2,312
Residential mortgage-backed securities	—		256,688		—		256,688
Collateralized mortgage obligations	—		2,947		—		2,947
Corporate bonds	—		88,047		—		88,047
Total available-for-sale securities	—		349,994		—		349,994
Equity securities:
Equity securities - financial services industry	980		—		—		980
Money market mutual funds	1,589		—		—		1,589
Total equity securities	2,569		—		—		2,569
Loans*	—		—		13		13
Loans held for sale	—		14,521		—		14,521
Forward loan sale commitments*	—		806		—		806
Total assets	$	2,569	$	365,321	$	13	$	367,903
Liabilities:
Contingent consideration liability	$	—	$	—	$	1,663	$	1,663
Interest rate swaps*	—		59		—		59
Credit derivatives*	—		—		457		457
Interest rate locks with customers*	—		245		—		245
Total liabilities	$	—	$	304	$	2,120	$	2,424

* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $457 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which was obtained from real-time financial market data, of 126 interest rate swaps with a notional amount of $769.3 million. The March 31, 2022 CVA assumed a zero-deal recovery percentage based on the most recent index credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was $1.6 million, which was calculated using a discount rate of 8.3%. The potential cash payments that could result from the contingent consideration arrangement for the acquisition ranged from $0 to a maximum of $1.9 million over the three-year period ending November 30, 2024.

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/ Liabilities at Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions	$	—	$	2,333	$	—	$	2,333
Residential mortgage-backed securities	—		221,105		—		221,105
Collateralized mortgage obligations	—		3,278		—		3,278
Corporate bonds	—		90,291		—		90,291
Total available-for-sale securities	—		317,007		—		317,007
Equity securities:
Equity securities - financial services industry	979		—		—		979
Money market mutual funds	2,020		—		—		2,020
Total equity securities	2,999		—		—		2,999
Loans*	—		—		48		48
Loans held for sale	—		21,600		—		21,600
Interest rate locks with customers*	—		765		—		765
Forward loan sale commitments*	—		87		—		87
Total assets	$	2,999	$	339,459	$	48	$	342,506
Liabilities:
Contingent consideration liability	$	—	$	—	$	1,629	$	1,629
Interest rate swaps*	—		204		—		204
Credit derivatives*	—		—		381		381
Total liabilities	$	—	$	204	$	2,010	$	2,214

* Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

The $381 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which was obtained from real-time financial market data, of 125 interest rate swaps with a notional amount of $755.6 million. The December 31, 2021 CVA assumed a zero-deal recovery percentage based on the most recent index credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was $1.6 million, which was calculated using a discount rate of 8.3%. The potential cash payments that could result from the contingent consideration arrangement for the acquisition ranged from $0 to a maximum of $1.9 million over the three-year period ending November 30, 2024.

Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Level 3 Rollforward

The following table includes a roll forward 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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
(Dollars in thousands)	Balance at December 31, 2021		Additions		Payments received		Increase (decrease) in value		Balance at March 31, 2022
Loans	$	48	$	—	$	(35)	$	—	$	13
Credit derivatives	(381)		(526)		—		450		(457)
Net total	$	(333)	$	(526)	$	(35)	$	450	$	(444)

	Three Months Ended March 31, 2021
(Dollars in thousands)	Balance at December 31, 2020		Additions		Payments received		Increase (decrease) in value		Balance at March 31, 2021
Corporate bonds	$	9,600	$	—	$	—	$	—	$	9,600
Loans	187		—		(33)		(2)		152
Credit derivatives	(535)		(843)		—		1,107		(271)
Net total	$	9,252	$	(843)	$	(33)	$	1,105	$	9,481

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 three months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022
(Dollars in thousands)	Balance at December 31, 2021		Payment of Contingent Consideration		Adjustment of Contingent Consideration		Balance at March 31, 2022
Paul I. Sheaffer Insurance Agency	$	1,629	$	—	$	34	$	1,663
Total contingent consideration liability	$	1,629	$	—	$	34	$	1,663

	Three Months Ended March 31, 2021
(Dollars in thousands)	Balance at December 31, 2020		Payment of Contingent Consideration		Adjustment of Contingent Consideration		Balance at March 31, 2021
Girard Partners	$	55	$	29	$	2	$	28
Total contingent consideration liability	$	55	$	29	$	2	$	28

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 March 31, 2022 and December 31, 2021:

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets at Fair Value
Individually analyzed loans held for investment	$	—	$	—	$	29,773	$	29,773
Other real estate owned	—		—		279		279
Total	$	—	$	—	$	30,052	$	30,052

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets at Fair Value
Individually analyzed loans held for investment	$	—	$	—	$	33,118	$	33,118
Other real estate owned	—		—		279		279
Total	$	—	$	—	$	33,397	$	33,397

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 March 31, 2022 and December 31, 2021. The disclosed fair values are classified using the fair value hierarchy.

	At March 31, 2022
(Dollars in thousands)	Level 1		Level 2		Level 3		Fair Value		Carrying Amount
Assets:
Cash and short-term interest-earning assets	$	773,781	$	—	$	—	$	773,781	$	773,781
Held-to-maturity securities	—		157,924		—		157,924		166,339
Federal Home Loan Bank, Federal Reserve Bank and other stock	NA		NA		NA		NA		26,330
Net loans and leases held for investment	—		—		5,290,440		5,290,440		5,302,714
Servicing rights	—		—		15,106		15,106		8,122
Total assets	$	773,781	$	157,924	$	5,305,546	$	6,237,251	$	6,277,286
Liabilities:
Deposits:
Demand and savings deposits, non-maturity	$	5,581,657	$	—	$	—	$	5,581,657	$	5,581,657
Time deposits	—		460,580		—		460,580		466,275
Total deposits	5,581,657		460,580		—		6,042,237		6,047,932
Short-term borrowings	—		18,976		—		18,976		18,976
Long-term debt	—		93,343		—		93,343		95,000
Subordinated notes	—		102,250		—		102,250		98,952
Total liabilities	$	5,581,657	$	675,149	$	—	$	6,256,806	$	6,260,860

	At December 31, 2021
(Dollars in thousands)	Level 1		Level 2		Level 3		Fair Value		Carrying Amount
Assets:
Cash and short-term interest-earning assets	$	890,150	$	—	$	—	$	890,150	$	890,150
Held-to-maturity securities	—		178,402		—		178,402		176,983
Federal Home Loan Bank, Federal Reserve Bank and other stock	NA		NA		NA		NA		28,186
Net loans and leases held for investment	—		—		5,244,504		5,244,504		5,204,927
Servicing rights	—		—		11,331		11,331		7,878
Total assets	$	890,150	$	178,402	$	5,255,835	$	6,324,387	$	6,308,124
Liabilities:
Deposits:
Demand and savings deposits, non-maturity	$	5,570,958	$	—	$	—	$	5,570,958	$	5,570,958
Time deposits	—		487,874		—		487,874		484,166
Total deposits	5,570,958		487,874		—		6,058,832		6,055,124
Short-term borrowings	—		20,106		—		20,106		20,106
Long-term debt	—		95,707		—		95,707		95,000
Subordinated notes	—		107,000		—		107,000		98,874
Total liabilities	$	5,570,958	$	710,687	$	—	$	6,281,645	$	6,269,104

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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting

The following table provides total assets by reportable business segment as of the dates indicated.

(Dollars in thousands)	At March 31, 2022		At December 31, 2021		At March 31, 2021
Banking	$	6,997,081	$	7,005,952	$	6,313,108
Wealth Management	53,174		54,076		48,016
Insurance	42,240		40,649		37,075
Other	15,245		21,744		18,466
Consolidated assets	$	7,107,740	$	7,122,421	$	6,416,665

The following tables provide reportable segment-specific information and reconciliations to consolidated financial information for the three months ended March 31, 2022 and 2021.

	Three Months Ended
	March 31, 2022
(Dollars in thousands)	Banking		Wealth Management		Insurance		Other		Consolidated
Interest income	$	51,189	$	1	$	—	$	8	$	51,198
Interest expense	3,180		30		—		1,328		4,538
Net interest income (expense)	48,009		(29)		—		(1,320)		46,660
Reversal of provision for credit losses	(3,450)		—		—		—		(3,450)
Noninterest income	7,370		7,305		5,764		31		20,470
Noninterest expense	36,488		4,709		3,865		350		45,412
Intersegment (revenue) expense*	(433)		211		222		—		—
Income (loss) before income taxes	22,774		2,356		1,677		(1,639)		25,168
Income tax expense (benefit)	4,543		492		358		(542)		4,851
Net income (loss)	$	18,231	$	1,864	$	1,319	$	(1,097)	$	20,317
Net capital expenditures	$	(5,592)	$	63	$	15	$	20	$	(5,494)

	Three Months Ended
	March 31, 2021
(Dollars in thousands)	Banking		Wealth Management		Insurance		Other		Consolidated
Interest income	$	51,449	$	—	$	—	$	8	$	51,457
Interest expense	3,719		31		—		2,293		6,043
Net interest income (expense)	47,730		(31)		—		(2,285)		45,414
Reversal of provision for credit losses	(11,283)		—		—		—		(11,283)
Noninterest income	11,230		6,773		5,105		142		23,250
Noninterest expense	30,601		4,086		3,304		1,549		39,540
Intersegment (revenue) expense*	(323)		164		159		—		—
Income (loss) before income taxes	39,965		2,492		1,641		(3,692)		40,407
Income tax expense (benefit)	8,255		514		351		(1,316)		7,804
Net income (loss)	$	31,710	$	1,978	$	1,290	$	(2,376)	$	32,603
Net capital expenditures	$	1,111	$	5	$	9	$	62	$	1,187

*Includes an allocation of general and administrative expenses from both the parent holding company and the Bank. These expenses are generally allocated based upon number of employees and square footage utilized.

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Earnings per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share, Basic and Diluted [Abstract]
Net income	$ 20,317	$ 32,603
Net income allocated to unvested restricted stock awards	0	(37)
Net income allocated to common shares	$ 20,317	$ 32,566
Weighted average shares outstanding	29,542	29,329
Average unvested restricted stock awards	0	(32)
Denominator for basic earnings per share—weighted-average shares outstanding	29,542	29,297
Effect of dilutive securities—employee stock options and restricted stock units	196	135
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	29,738	29,432
Basic earnings per share	$ 0.69	$ 1.11
Diluted earnings per share	$ 0.68	$ 1.11
Average antidilutive options and restricted stock units excluded from computation of diluted earnings per share	249	315

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Investment Securities - Narrative (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) Investment	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) Investment	Dec. 31, 2020 USD ($)
Debt Securities, Available-for-sale [Line Items]
Carrying value of securities pledged to secure public deposits and other contractual obligations	$ 439,900		$ 281,700
Pledging requirements for credit derivatives and SWAP agreements - securities		$ 0	$ 23,000
Number of investments in non federal issuer representing more than 10% of shareholder's equity | Investment	0		0
Maximum investment in any single non-federal issuer representing shareholders equity	10.00%		10.00%
Fair value HTM in unrealized loss with no ACL	$ 133,809		$ 89,837
Unrealized loss included in fair value of securities HTM in unrealized loss position for which an ACL has not been recorded	8,698		984
Fair value AFS in unrealized loss with no ACL	259,876		179,992
Unrealized loss included in fair value of securities AFS in unrealized loss position for which an ACL has not been recorded	19,224		2,300
Fair value of securities AFS in unrealized loss position for which an ACL has been recorded, net of allowance	74,100
Unrealized loss position included in fair value of securities AFS in unrealized loss position for which an ACL has been recorded	3,700
Debt securities, available-for-sale, allowance for credit loss	(1,275)		(929)
Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Fair value AFS in unrealized loss with no ACL	1,280		779
Unrealized loss included in fair value of securities AFS in unrealized loss position for which an ACL has not been recorded	1		1
Debt securities, available-for-sale, allowance for credit loss	$ (1,275)	(485)	$ (929)	$ (869)
Number of securities | Investment	33
Available-for-sale Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Accrued interest receivable	$ 821
Debt securities, available-for-sale, allowance for credit loss	(1,300)
Held-to-maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Accrued interest receivable	351
Other Noninterest Income [Member] | Equity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Net realized gain on investment securities	$ 1	$ 115

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Investment Securities - Held-to-Maturity and Available-for-Sale, Scheduled Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	$ 166,339	$ 176,983
Securities Held-to-Maturity, Gross Unrealized Gains	283	2,403
Securities Held-to-Maturity, Gross Unrealized Losses	(8,698)	(984)
Securities Held-to-maturity, Allowance for Credit Loss	0	0
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	157,924	178,402
Debt Securities, Available-for-sale [Abstract]
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	372,860	319,474
Securities Available-for-Sale, Gross Unrealized Gain	97	1,531
Securities Available-for-Sale, Gross Unrealized Losses	(21,688)	(3,069)
Debt securities, available-for-sale, allowance for credit loss	(1,275)	(929)
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	349,994	317,007
U.S. Government Corporations and Agencies [Member]
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Securities Held-to-Maturity, Amortized Cost, Within 1 Year	2,000	6,999
Securities Held-to-Maturity, Gross Unrealized Gains, Within 1 Year	8	34
Securities Held-to-Maturity, Gross Unrealized Losses, Within 1 Year	0	0
Securities Held to Maturity, Allowance for Credit Loss, Within 1 Year	0	0
Securities Held-to-Maturity, Fair Value, Within 1 Year	2,008	7,033
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	2,000	6,999
Securities Held-to-Maturity, Gross Unrealized Gains	8	34
Securities Held-to-Maturity, Gross Unrealized Losses	0	0
Securities Held-to-maturity, Allowance for Credit Loss	0	0
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	2,008	7,033
State and Political Subdivisions [Member]
Debt Securities, Available-for-sale [Abstract]
Securities Available-for-Sale, Amortized Cost, After 1 Year to 5 Years	2,326	2,326
Securities Available-for-Sale,Gross Unrealized Gain, After 1 Year to 5 Years	1	7
Securities Available-for-Sale, Gross Unrealized Losses, After 1 Year to 5 Years	(15)	0
Securities Available-for-sale, Allowance for Credit Loss, After 1 Year to 5 Years	0	0
Securities Available-for-Sale, Fair Value, After 1 Year to 5 Years	2,312	2,333
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,326	2,326
Securities Available-for-Sale, Gross Unrealized Gain	1	7
Securities Available-for-Sale, Gross Unrealized Losses	(15)	0
Debt securities, available-for-sale, allowance for credit loss	0	0
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,312	2,333
Residential Mortgage-Backed Securities [Member]
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Securities Held-to-Maturity, Amortized Cost, After 1 Year to 5 Years	1,188
Securities Held-to-Maturity, Gross Unrealized Gains, After 1 Year to 5 Years	0
Securities Held-to-Maturity, Gross Unrealized Losses, After 1 Year to 5 Years	(16)
Securities Held-to-Maturity, Allowance for Credit Loss, After 1 Year to 5 Years	0
Securities Held-to-Maturity, Fair Value, After 1 Year to 5 Years	1,172
Securities Held-to-Maturity, Amortized Cost, After 5 Years to 10 Years	5,858	5,208
Securities Held-to-Maturity, Gross Unrealized Gains, After 5 Years to 10 Years	7	194
Securities Held-to-Maturity, Gross Unrealized Losses, After 5 Years to 10 Years	(32)	0
Securities, Held-to-Maturity, Allowance for Credit Loss, After 5 Years To 10 Years	0	0
Securities Held-to-Maturity, Fair Value, After 5 Years to 10 Years	5,833	5,402
Securities Held-to-Maturity, Amortized Cost, Over 10 Years	157,293	164,776
Securities Held-to-Maturity, Gross Unrealized Gain, Over 10 Years	268	2,175
Securities Held-to-Maturity, Gross Unrealized Losses, Over 10 Years	(8,650)	(984)
Securities Held-to-maturity, Allowance for Credit Loss, Over 10 Years	0	0
Securities Held-to-Maturity, Fair Value, After 10 years	148,911	165,967
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	164,339	169,984
Securities Held-to-Maturity, Gross Unrealized Gains	275	2,369
Securities Held-to-Maturity, Gross Unrealized Losses	(8,698)	(984)
Securities Held-to-maturity, Allowance for Credit Loss	0	0
Investment securities held-to-maturity (fair value $157,924 and $178,402 at March 31, 2022 and December 31, 2021, respectively)	155,916	171,369
Debt Securities, Available-for-sale [Abstract]
Securities Available-for-Sale, Amortized Cost, Within 1 Year	21	31
Securities Available-for-Sale,Gross Unrealized Gain, Within 1 Year	0	0
Securities Available-for-Sale, Gross Unrealized Losses, Within 1 Year	0	0
Securities Available-for-Sale, Allowance for Credit Loss, Within 1 Year	0	0
Securities Available-for-Sale, Fair Value, Within 1 Year	21	31
Securities Available-for-Sale, Amortized Cost, After 1 Year to 5 Years	370	153
Securities Available-for-Sale,Gross Unrealized Gain, After 1 Year to 5 Years	0	5
Securities Available-for-Sale, Gross Unrealized Losses, After 1 Year to 5 Years	(4)	0
Securities Available-for-sale, Allowance for Credit Loss, After 1 Year to 5 Years	0	0
Securities Available-for-Sale, Fair Value, After 1 Year to 5 Years	366	158
Securities Available-for-Sale, Amortized Cost, After 5 Years to 10 Years	3,533	2,286
Securities Available-for-Sale,Gross Unrealized Gain, After 5 Years to 10 Years	0	82
Securities Available-for-Sale, Gross Unrealized Losses, After 5 Years to 10 Years	(48)	0
Securities Available-for-Sale, Allowance for Credit Loss, After 5 Years to 10 Years	0	0
Securities Available-for-Sale, Fair Value, After 5 Years to 10 Years	3,485	2,368
Securities Available-for-Sale, Amortized Cost, Over 10 Years	271,817	220,153
Securities Available-for-Sale,Gross Unrealized Gain, Over 10 Years	32	671
Securities Available-for-Sale, Gross Unrealized Losses, Over 10 Years	(19,033)	(2,276)
Securities Available-for-Sale, Allowance for Credit Loss, After 10 Years	0	0
Securities Available-for-Sale, Fair Value, Over 10 Years	252,816	218,548
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	275,741	222,623
Securities Available-for-Sale, Gross Unrealized Gain	32	758
Securities Available-for-Sale, Gross Unrealized Losses	(19,085)	(2,276)
Debt securities, available-for-sale, allowance for credit loss	0	0
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	256,688	221,105
Collateralized Mortgage Obligations [Member]
Debt Securities, Available-for-sale [Abstract]
Securities Available-for-Sale, Amortized Cost, After 5 Years to 10 Years	439	481
Securities Available-for-Sale,Gross Unrealized Gain, After 5 Years to 10 Years	0	7
Securities Available-for-Sale, Gross Unrealized Losses, After 5 Years to 10 Years	(7)	0
Securities Available-for-Sale, Allowance for Credit Loss, After 5 Years to 10 Years	0	0
Securities Available-for-Sale, Fair Value, After 5 Years to 10 Years	432	488
Securities Available-for-Sale, Amortized Cost, Over 10 Years	2,631	2,813
Securities Available-for-Sale,Gross Unrealized Gain, Over 10 Years	0	0
Securities Available-for-Sale, Gross Unrealized Losses, Over 10 Years	(116)	(23)
Securities Available-for-Sale, Allowance for Credit Loss, After 10 Years	0	0
Securities Available-for-Sale, Fair Value, Over 10 Years	2,515	2,790
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	3,070	3,294
Securities Available-for-Sale, Gross Unrealized Gain	0	7
Securities Available-for-Sale, Gross Unrealized Losses	(123)	(23)
Debt securities, available-for-sale, allowance for credit loss	0	0
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,947	3,278
Corporate Bonds [Member]
Debt Securities, Available-for-sale [Abstract]
Securities Available-for-Sale, Amortized Cost, Within 1 Year	1,500	2,500
Securities Available-for-Sale,Gross Unrealized Gain, Within 1 Year	0	4
Securities Available-for-Sale, Gross Unrealized Losses, Within 1 Year	0	0
Securities Available-for-Sale, Allowance for Credit Loss, Within 1 Year	0	0
Securities Available-for-Sale, Fair Value, Within 1 Year	1,500	2,504
Securities Available-for-Sale, Amortized Cost, After 1 Year to 5 Years	29,726	28,731
Securities Available-for-Sale,Gross Unrealized Gain, After 1 Year to 5 Years	64	755
Securities Available-for-Sale, Gross Unrealized Losses, After 1 Year to 5 Years	(561)	(67)
Securities Available-for-sale, Allowance for Credit Loss, After 1 Year to 5 Years	(85)	(51)
Securities Available-for-Sale, Fair Value, After 1 Year to 5 Years	29,144	29,368
Securities Available-for-Sale, Amortized Cost, After 5 Years to 10 Years	60,497	60,000
Securities Available-for-Sale,Gross Unrealized Gain, After 5 Years to 10 Years	0	0
Securities Available-for-Sale, Gross Unrealized Losses, After 5 Years to 10 Years	(1,904)	(703)
Securities Available-for-Sale, Allowance for Credit Loss, After 5 Years to 10 Years	(1,190)	(878)
Securities Available-for-Sale, Fair Value, After 5 Years to 10 Years	57,403	58,419
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	91,723	91,231
Securities Available-for-Sale, Gross Unrealized Gain	64	759
Securities Available-for-Sale, Gross Unrealized Losses	(2,465)	(770)
Debt securities, available-for-sale, allowance for credit loss	(1,275)	(929)	$ (485)	$ (869)
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	$ 88,047	$ 90,291

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Investment Securities - Information Related to Sales of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Securities available-for-sale:
Proceeds from sales	$ 1,530	$ 1,563
Gross realized gains on sales	30	65
Tax expense related to net realized gains on sales	$ 6	$ 14

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Investment Securities - Amount of Securities in Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than twelve months, fair value	$ 129,937	$ 89,837
Debt securities, held-to-maturity, continuous unrealized loss position, less than 12 months, accumulated loss	(8,276)	(984)
Twelve months or longer, fair value	3,872	0
Debt securities, held-to-maturity, continuous unrealized loss position, 12 months or longer, accumulated loss	(422)	0
Total, fair value	133,809	89,837
Debt securities, held-to-maturity, unrealized loss position, accumulated loss	(8,698)	(984)
Debt Securities, Available-for-sale, Unrealized Gain (Loss) [Abstract]
Less than twelve months, fair value	211,280	167,895
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(14,026)	(1,840)
Twelve months or longer, fair value	48,596	12,097
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, accumulated loss	(5,198)	(460)
Total, fair value	259,876	179,992
Available-for-sale securities, continuous unrealized loss position, accumulated loss	(19,224)	(2,300)
Residential Mortgage-Backed Securities [Member]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than twelve months, fair value	129,937	89,837
Debt securities, held-to-maturity, continuous unrealized loss position, less than 12 months, accumulated loss	(8,276)	(984)
Twelve months or longer, fair value	3,872	0
Debt securities, held-to-maturity, continuous unrealized loss position, 12 months or longer, accumulated loss	(422)	0
Total, fair value	133,809	89,837
Debt securities, held-to-maturity, unrealized loss position, accumulated loss	(8,698)	(984)
Debt Securities, Available-for-sale, Unrealized Gain (Loss) [Abstract]
Less than twelve months, fair value	205,772	164,326
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(13,887)	(1,816)
Twelve months or longer, fair value	48,596	12,097
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, accumulated loss	(5,198)	(460)
Total, fair value	254,368	176,423
Available-for-sale securities, continuous unrealized loss position, accumulated loss	(19,085)	(2,276)
State and Political Subdivisions [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss) [Abstract]
Less than twelve months, fair value	1,281
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(15)
Twelve months or longer, fair value	0
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, accumulated loss	0
Total, fair value	1,281
Available-for-sale securities, continuous unrealized loss position, accumulated loss	(15)
Collateralized Mortgage Obligations [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss) [Abstract]
Less than twelve months, fair value	2,947	2,790
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(123)	(23)
Twelve months or longer, fair value	0	0
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, accumulated loss	0	0
Total, fair value	2,947	2,790
Available-for-sale securities, continuous unrealized loss position, accumulated loss	(123)	(23)
Corporate Bonds [Member]
Debt Securities, Available-for-sale, Unrealized Gain (Loss) [Abstract]
Less than twelve months, fair value	1,280	779
Available-for-sale securities, continuous unrealized loss position, less than 12 months, accumulated loss	(1)	(1)
Twelve months or longer, fair value	0	0
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, accumulated loss	0	0
Total, fair value	1,280	779
Available-for-sale securities, continuous unrealized loss position, accumulated loss	$ (1)	$ (1)

XML

Investment Securities - Allowance for Credit Loss Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Securities, available-for-sale, allowance for credit loss, beginning balance	$ 929
Securities, available-for-sale, allowance for credit loss, ending balance	1,275
Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Securities, available-for-sale, allowance for credit loss, beginning balance	929	$ 869
Additions for securities for which no previous expected credit losses were recognized	(45)	(19)
Change in securities for which a previous expected credit loss was recognized	(301)	403
Securities, available-for-sale, allowance for credit loss, ending balance	$ 1,275	$ 485

XML

Loans and Leases - Narrative (Details) $ in Millions	Mar. 31, 2022 USD ($)
Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Amount of loan relationship balance, loans reviewed annually	$ 1
Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Amount of loan relationship balance, loans reviewed on a performance basis	$ 1

XML

Loans and Leases - Summary of Major Loan and Lease Categories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	$ 5,400,786	$ 5,310,017	$ 5,415,006
Loans and Leases Receivable, Allowance	(68,286)	(71,924)
Net loans and leases held for investment	5,332,500	5,238,093
Unearned lease income	19,204	19,104
Net deferred costs, included in the above table	4,324	3,408
Overdraft deposits included in the above table	3,286	4,268
Commercial Financial And Agricultural [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	932,485	956,396	871,996
Paycheck Protection Program Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	10,298	31,748	528,452
Real-Estate Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	2,816,737	2,718,535	2,531,700
Real-Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	285,083	283,918	249,652
Real Estate Residential Secured For Business Purpose [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	412,486	409,900	387,801
Real Estate-Residential Secured For Personal Purpose [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	568,735	540,566	494,349
Real Estate Home Equity Secured For Personal Purpose [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	160,134	158,909	162,529
Loans to Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	26,249	25,504	25,468
Lease Financings [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases held for investment	$ 188,579	$ 184,541	$ 163,059

XML

Loans and Leases - Age Analysis of Past Due Loans and Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	$ 4,457,089	$ 4,400,497
Accruing loans and leases	5,369,910	5,276,807
Nonaccrual loans and lease	30,876	33,210
Loans and leases held for investment	5,400,786	5,310,017	$ 5,415,006
Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	9,451	9,036
Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	247	1,609
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	274	498
Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	9,972	11,143
Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	5,359,938	5,265,664
Commercial Financial And Agricultural [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	932,485	956,396
Accruing loans and leases	932,037	955,948
Nonaccrual loans and lease	448	448
Loans and leases held for investment	932,485	956,396	871,996
Commercial Financial And Agricultural [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	4,880	3,407
Commercial Financial And Agricultural [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	894
Commercial Financial And Agricultural [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Commercial Financial And Agricultural [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	4,880	4,301
Commercial Financial And Agricultural [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	927,157	951,647
Paycheck Protection Program Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	10,298	31,748
Accruing loans and leases	10,298	31,748
Nonaccrual loans and lease	0	0
Loans and leases held for investment	10,298	31,748	528,452
Paycheck Protection Program Loans | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	367
Paycheck Protection Program Loans | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Paycheck Protection Program Loans | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Paycheck Protection Program Loans | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	367
Paycheck Protection Program Loans | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	10,298	31,381
Real-Estate Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	2,816,737	2,718,535
Accruing loans and leases	2,790,326	2,690,635
Nonaccrual loans and lease	26,411	27,900
Loans and leases held for investment	2,816,737	2,718,535	2,531,700
Real-Estate Commercial [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	2,833	234
Real-Estate Commercial [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real-Estate Commercial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real-Estate Commercial [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	2,833	234
Real-Estate Commercial [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	2,787,493	2,690,401
Real-Estate Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	285,083	283,918
Accruing loans and leases	285,083	283,918
Nonaccrual loans and lease	0	0
Loans and leases held for investment	285,083	283,918	249,652
Real-Estate Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real-Estate Construction [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real-Estate Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real-Estate Construction [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real-Estate Construction [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	285,083	283,918
Real Estate Residential Secured For Business Purpose [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	412,486	409,900
Accruing loans and leases	411,366	407,713
Nonaccrual loans and lease	1,120	2,187
Loans and leases held for investment	412,486	409,900	387,801
Real Estate Residential Secured For Business Purpose [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	294	542
Real Estate Residential Secured For Business Purpose [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	89	0
Real Estate Residential Secured For Business Purpose [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	216
Real Estate Residential Secured For Business Purpose [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	383	758
Real Estate Residential Secured For Business Purpose [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	410,983	406,955
Real Estate-Residential Secured For Personal Purpose [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	568,735	540,566
Accruing loans and leases	566,476	538,517
Nonaccrual loans and lease	2,259	2,049
Loans and leases held for investment	568,735	540,566	494,349
Real Estate-Residential Secured For Personal Purpose [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	1,112	2,976
Real Estate-Residential Secured For Personal Purpose [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	162
Real Estate-Residential Secured For Personal Purpose [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real Estate-Residential Secured For Personal Purpose [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	1,112	3,138
Real Estate-Residential Secured For Personal Purpose [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	565,364	535,379
Real Estate Home Equity Secured For Personal Purpose [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	160,134	158,909
Accruing loans and leases	159,645	158,364
Nonaccrual loans and lease	489	545
Loans and leases held for investment	160,134	158,909	162,529
Real Estate Home Equity Secured For Personal Purpose [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	77	646
Real Estate Home Equity Secured For Personal Purpose [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	20	129
Real Estate Home Equity Secured For Personal Purpose [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	0	0
Real Estate Home Equity Secured For Personal Purpose [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	97	775
Real Estate Home Equity Secured For Personal Purpose [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	159,548	157,589
Loans to Individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	26,249	25,504
Accruing loans and leases	26,249	25,504
Nonaccrual loans and lease	0	0
Loans and leases held for investment	26,249	25,504	25,468
Loans to Individuals [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	34	90
Loans to Individuals [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	14	27
Loans to Individuals [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	185	180
Loans to Individuals [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	233	297
Loans to Individuals [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	26,016	25,207
Lease Financings [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	188,579	184,541
Accruing loans and leases	188,430	184,460
Nonaccrual loans and lease	149	81
Loans and leases held for investment	188,579	184,541	$ 163,059
Lease Financings [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	221	774
Lease Financings [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	124	397
Lease Financings [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	89	102
Lease Financings [Member] | Financial Asset Not Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	434	1,273
Lease Financings [Member] | Financial Asset Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financial receivables, gross	$ 187,996	$ 183,187

XML

Loans and Leases - Nonperforming Loans and Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	$ 30,876	$ 33,210
Accruing troubled debt restructured loans and lease modifications	51	51
Loans and lease 90 days or more past due and accruing interest	274	498
Total nonperforming loans and leases	31,201	33,759
Nonaccrual troubled debt restructured loans and lease modifications	830	758
Commercial Financial And Agricultural [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	448	448
Accruing troubled debt restructured loans and lease modifications	0	0
Loans and lease 90 days or more past due and accruing interest	0	0
Total nonperforming loans and leases	448	448
Real-Estate Commercial [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	26,411	27,900
Accruing troubled debt restructured loans and lease modifications	0	0
Loans and lease 90 days or more past due and accruing interest	0	0
Total nonperforming loans and leases	26,411	27,900
Real Estate Residential Secured For Business Purpose [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	1,120	2,187
Accruing troubled debt restructured loans and lease modifications	0	0
Loans and lease 90 days or more past due and accruing interest	0	216
Total nonperforming loans and leases	1,120	2,403
Real Estate-Residential Secured For Personal Purpose [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	2,259	2,049
Accruing troubled debt restructured loans and lease modifications	0	0
Loans and lease 90 days or more past due and accruing interest	0	0
Total nonperforming loans and leases	2,259	2,049
Real Estate Home Equity Secured For Personal Purpose [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	489	545
Accruing troubled debt restructured loans and lease modifications	51	51
Loans and lease 90 days or more past due and accruing interest	0	0
Total nonperforming loans and leases	540	596
Loans to Individuals [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	0	0
Accruing troubled debt restructured loans and lease modifications	0	0
Loans and lease 90 days or more past due and accruing interest	185	180
Total nonperforming loans and leases	185	180
Lease Financings [Member]
Nonperforming Loans And Leases [Line Items]
Nonaccrual loans and lease	149	81
Accruing troubled debt restructured loans and lease modifications	0	0
Loans and lease 90 days or more past due and accruing interest	89	102
Total nonperforming loans and leases	$ 238	$ 183

XML

Loans and Leases - Nonaccrual (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	$ 25,913	$ 33,047
Nonaccrual With ACL	4,963	163
Nonaccrual loans and lease	30,876	33,210
Loans and Leases 90 Days or more Past Due and Accruing Interest	274	498
Interest income recognized on nonaccrual loans and leases	14
Commercial Financial And Agricultural [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	448	448
Nonaccrual With ACL	0	0
Nonaccrual loans and lease	448	448
Loans and Leases 90 Days or more Past Due and Accruing Interest	0	0
Real-Estate Commercial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	21,597	27,818
Nonaccrual With ACL	4,814	82
Nonaccrual loans and lease	26,411	27,900
Loans and Leases 90 Days or more Past Due and Accruing Interest	0	0
Real Estate Residential Secured For Business Purpose [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	1,120	2,187
Nonaccrual With ACL	0	0
Nonaccrual loans and lease	1,120	2,187
Loans and Leases 90 Days or more Past Due and Accruing Interest	0	216
Real Estate Residential Secured For Personal Purpose [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	2,259	2,049
Nonaccrual With ACL	0	0
Nonaccrual loans and lease	2,259	2,049
Loans and Leases 90 Days or more Past Due and Accruing Interest	0	0
Real Estate Home Equity Secured For Personal Purpose [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	489	545
Nonaccrual With ACL	0	0
Nonaccrual loans and lease	489	545
Loans and Leases 90 Days or more Past Due and Accruing Interest	0	0
Loans to Individuals [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	0	0
Nonaccrual With ACL	0	0
Nonaccrual loans and lease	0	0
Loans and Leases 90 Days or more Past Due and Accruing Interest	185	180
Lease Financings [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual With No ACL	0	0
Nonaccrual With ACL	149	81
Nonaccrual loans and lease	149	81
Loans and Leases 90 Days or more Past Due and Accruing Interest	$ 89	$ 102

XML

Loans and Leases - Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	$ 30,876	$ 33,210
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	30,552	32,954
Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	149	81
None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	175	175
Commercial Financial And Agricultural [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	448	448
Commercial Financial And Agricultural [Member] | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	273	273
Commercial Financial And Agricultural [Member] | Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Commercial Financial And Agricultural [Member] | None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	175	175
Real-Estate Commercial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	26,411	27,900
Real-Estate Commercial [Member] | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	26,411	27,900
Real-Estate Commercial [Member] | Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real-Estate Commercial [Member] | None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real Estate Residential Secured For Business Purpose [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	1,120	2,187
Real Estate Residential Secured For Business Purpose [Member] | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	1,120	2,187
Real Estate Residential Secured For Business Purpose [Member] | Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real Estate Residential Secured For Business Purpose [Member] | None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real Estate Residential Secured For Personal Purpose [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	2,259	2,049
Real Estate Residential Secured For Personal Purpose [Member] | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	2,259	2,049
Real Estate Residential Secured For Personal Purpose [Member] | Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real Estate Residential Secured For Personal Purpose [Member] | None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real Estate Home Equity Secured For Personal Purpose [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	489	545
Real Estate Home Equity Secured For Personal Purpose [Member] | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	489	545
Real Estate Home Equity Secured For Personal Purpose [Member] | Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Real Estate Home Equity Secured For Personal Purpose [Member] | None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Lease Financings [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	149	81
Lease Financings [Member] | Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	0	0
Lease Financings [Member] | Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	149	81
Lease Financings [Member] | None
Financing Receivable, Allowance for Credit Loss [Line Items]
Total nonaccrual loans	$ 0	$ 0

XML

Loans and Leases - Credit Quality (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 339,360	$ 1,350,136
2021	1,273,844	1,123,997
2020	1,063,127	600,884
2019	544,629	275,201
2018	253,776	250,626
Prior	447,234	259,386
Revolving loans amortized cost basis	535,119	540,267
Total	4,457,089	4,400,497
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	338,448	1,341,674
2021	1,245,162	1,083,293
2020	1,030,066	568,124
2019	511,428	252,767
2018	219,167	248,059
Prior	437,066	248,348
Revolving loans amortized cost basis	513,465	524,749
Total	4,294,802	4,267,014
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	912	8,462
2021	28,682	18,649
2020	10,974	29,355
2019	29,702	20,394
2018	34,329	1,417
Prior	7,788	7,954
Revolving loans amortized cost basis	16,638	10,260
Total	129,025	96,491
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	22,055
2020	22,087	3,405
2019	3,499	2,040
2018	280	1,150
Prior	2,380	3,084
Revolving loans amortized cost basis	5,016	5,258
Total	33,262	36,992
Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	53
2021	214	648
2020	635	64
2019	35	602
2018	559	7
Prior	1,467	1,271
Revolving loans amortized cost basis	312	363
Total	3,222	3,008
Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	76,270	305,178
2021	296,490	216,186
2020	204,407	63,599
2019	55,484	40,335
2018	34,651	24,920
Prior	96,984	82,679
Revolving loans amortized cost basis	176,189	173,615
Total	940,475	906,512
Commercial Financial And Agricultural [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	61,928	216,198
2021	192,119	83,198
2020	70,536	72,007
2019	45,276	52,901
2018	47,399	23,697
Prior	65,246	51,258
Revolving loans amortized cost basis	449,981	457,137
Total	932,485	956,396
Commercial Financial And Agricultural [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	61,928	215,197
2021	189,868	79,739
2020	66,196	69,618
2019	43,083	52,507
2018	41,794	23,253
Prior	63,584	49,827
Revolving loans amortized cost basis	428,551	442,288
Total	895,004	932,429
Commercial Financial And Agricultural [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	1,001
2021	2,251	3,459
2020	4,340	2,389
2019	2,193	394
2018	5,605	428
Prior	1,462	1,231
Revolving loans amortized cost basis	16,565	10,162
Total	32,416	19,064
Commercial Financial And Agricultural [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	16
Prior	200	200
Revolving loans amortized cost basis	4,865	4,687
Total	5,065	4,903
Paycheck Protection Program Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	12	31,554
2021	10,221	194
2020	65	0
2019	0	0
2018	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	10,298	31,748
Paycheck Protection Program Loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	12	31,554
2021	10,221	194
2020	61	0
2019	0	0
2018	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	10,294	31,748
Paycheck Protection Program Loans | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	4	0
2019	0	0
2018	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	4	0
Paycheck Protection Program Loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	0	0
Real-Estate Commercial [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	218,701	805,445
2021	784,194	894,819
2020	868,387	434,483
2019	411,661	157,887
2018	154,877	197,782
Prior	332,930	179,667
Revolving loans amortized cost basis	45,987	48,452
Total	2,816,737	2,718,535
Real-Estate Commercial [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	217,789	802,878
2021	781,652	858,426
2020	840,423	407,944
2019	385,224	155,892
2018	145,916	195,756
Prior	326,313	172,702
Revolving loans amortized cost basis	45,914	48,354
Total	2,743,231	2,641,952
Real-Estate Commercial [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	912	2,567
2021	2,542	14,338
2020	5,877	23,134
2019	22,938	0
2018	8,724	916
Prior	5,366	5,630
Revolving loans amortized cost basis	73	98
Total	46,432	46,683
Real-Estate Commercial [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	22,055
2020	22,087	3,405
2019	3,499	1,995
2018	237	1,110
Prior	1,251	1,335
Revolving loans amortized cost basis	0	0
Total	27,074	29,900
Real-Estate Construction [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	27,984	142,306
2021	143,949	60,452
2020	42,827	42,424
2019	40,137	29,995
2018	20,000	198
Prior	273	0
Revolving loans amortized cost basis	9,913	8,543
Total	285,083	283,918
Real-Estate Construction [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	27,984	137,622
2021	120,060	59,952
2020	42,327	38,592
2019	35,566	9,995
2018	0	198
Prior	273	0
Revolving loans amortized cost basis	9,913	8,543
Total	236,123	254,902
Real-Estate Construction [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	4,684
2021	23,889	500
2020	500	3,832
2019	4,571	20,000
2018	20,000	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	48,960	29,016
Real-Estate Construction [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	0	0
Real Estate Residential Secured For Business Purpose [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	30,735	154,633
2021	143,361	85,334
2020	81,312	51,970
2019	47,555	34,418
2018	31,500	28,949
Prior	48,785	28,461
Revolving loans amortized cost basis	29,238	26,135
Total	412,486	409,900
Real Estate Residential Secured For Business Purpose [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	30,735	154,423
2021	143,361	84,982
2020	81,059	51,970
2019	47,555	34,373
2018	31,457	28,852
Prior	46,896	25,819
Revolving loans amortized cost basis	29,087	25,564
Total	410,150	405,983
Real Estate Residential Secured For Business Purpose [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	210
2021	0	352
2020	253	0
2019	0	0
2018	0	73
Prior	960	1,093
Revolving loans amortized cost basis	0	0
Total	1,213	1,728
Real Estate Residential Secured For Business Purpose [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	45
2018	43	24
Prior	929	1,549
Revolving loans amortized cost basis	151	571
Total	1,123	2,189
Real Estate Residential Secured For Personal Purpose [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	54,140	219,733
2021	216,100	163,243
2020	156,648	34,102
2019	29,247	23,436
2018	21,000	19,912
Prior	91,536	79,951
Revolving loans amortized cost basis	64	189
Total	568,735	540,566
Real Estate Residential Secured For Personal Purpose [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	53
2021	52	634
2020	621	0
2019	0	371
2018	371	0
Prior	1,215	991
Revolving loans amortized cost basis	0	0
Total	2,259	2,049
Real Estate Residential Secured For Personal Purpose [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	54,140	219,680
2021	216,048	162,609
2020	156,027	34,102
2019	29,247	23,065
2018	20,629	19,912
Prior	90,321	78,960
Revolving loans amortized cost basis	64	189
Total	566,476	538,517
Real Estate Home Equity Secured For Personal Purpose [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	302	961
2021	943	876
2020	665	370
2019	359	588
2018	511	704
Prior	2,143	1,715
Revolving loans amortized cost basis	155,211	153,695
Total	160,134	158,909
Real Estate Home Equity Secured For Personal Purpose [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	173
2018	171	0
Prior	57	60
Revolving loans amortized cost basis	312	363
Total	540	596
Real Estate Home Equity Secured For Personal Purpose [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	302	961
2021	943	876
2020	665	370
2019	359	415
2018	340	704
Prior	2,086	1,655
Revolving loans amortized cost basis	154,899	153,332
Total	159,594	158,313
Loans to Individuals [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	387	1,376
2021	1,169	893
2020	785	722
2019	560	466
2018	368	100
Prior	1,754	1,853
Revolving loans amortized cost basis	21,226	20,094
Total	26,249	25,504
Loans to Individuals [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	185	180
Revolving loans amortized cost basis	0	0
Total	185	180
Loans to Individuals [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	387	1,376
2021	1,169	893
2020	785	722
2019	560	466
2018	368	100
Prior	1,569	1,673
Revolving loans amortized cost basis	21,226	20,094
Total	26,064	25,324
Lease Financings [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	21,441	83,161
2021	78,492	51,822
2020	46,944	28,469
2019	25,353	16,447
2018	13,331	4,211
Prior	3,018	431
Revolving loans amortized cost basis	0	0
Total	188,579	184,541
Lease Financings [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	162	14
2020	14	64
2019	35	58
2018	17	7
Prior	10	40
Revolving loans amortized cost basis	0	0
Total	238	183
Lease Financings [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	21,441	83,161
2021	78,330	51,808
2020	46,930	28,405
2019	25,318	16,389
2018	13,314	4,204
Prior	3,008	391
Revolving loans amortized cost basis	0	0
Total	$ 188,341	$ 184,358

XML

Loans and Leases - Credit Quality Indicators (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	$ 5,400,786,000	$ 5,310,017,000	$ 5,415,006,000
2022	339,360,000	1,350,136,000
2021	1,273,844,000	1,123,997,000
2020	1,063,127,000	600,884,000
2019	544,629,000	275,201,000
2018	253,776,000	250,626,000
Prior	447,234,000	259,386,000
Revolving loans amortized cost basis	535,119,000	540,267,000
Total	4,457,089,000	4,400,497,000
Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	76,270,000	305,178,000
2021	296,490,000	216,186,000
2020	204,407,000	63,599,000
2019	55,484,000	40,335,000
2018	34,651,000	24,920,000
Prior	96,984,000	82,679,000
Revolving loans amortized cost basis	176,189,000	173,615,000
Total	940,475,000	906,512,000
Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	53,000
2021	214,000	648,000
2020	635,000	64,000
2019	35,000	602,000
2018	559,000	7,000
Prior	1,467,000	1,271,000
Revolving loans amortized cost basis	312,000	363,000
Total	3,222,000	3,008,000
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	338,448,000	1,341,674,000
2021	1,245,162,000	1,083,293,000
2020	1,030,066,000	568,124,000
2019	511,428,000	252,767,000
2018	219,167,000	248,059,000
Prior	437,066,000	248,348,000
Revolving loans amortized cost basis	513,465,000	524,749,000
Total	4,294,802,000	4,267,014,000
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	912,000	8,462,000
2021	28,682,000	18,649,000
2020	10,974,000	29,355,000
2019	29,702,000	20,394,000
2018	34,329,000	1,417,000
Prior	7,788,000	7,954,000
Revolving loans amortized cost basis	16,638,000	10,260,000
Total	129,025,000	96,491,000
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	22,055,000
2020	22,087,000	3,405,000
2019	3,499,000	2,040,000
2018	280,000	1,150,000
Prior	2,380,000	3,084,000
Revolving loans amortized cost basis	5,016,000	5,258,000
Total	33,262,000	36,992,000
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	0
Commercial Financial And Agricultural [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	932,485,000	956,396,000	871,996,000
2022	61,928,000	216,198,000
2021	192,119,000	83,198,000
2020	70,536,000	72,007,000
2019	45,276,000	52,901,000
2018	47,399,000	23,697,000
Prior	65,246,000	51,258,000
Revolving loans amortized cost basis	449,981,000	457,137,000
Total	932,485,000	956,396,000
Commercial Financial And Agricultural [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	61,928,000	215,197,000
2021	189,868,000	79,739,000
2020	66,196,000	69,618,000
2019	43,083,000	52,507,000
2018	41,794,000	23,253,000
Prior	63,584,000	49,827,000
Revolving loans amortized cost basis	428,551,000	442,288,000
Total	895,004,000	932,429,000
Commercial Financial And Agricultural [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	1,001,000
2021	2,251,000	3,459,000
2020	4,340,000	2,389,000
2019	2,193,000	394,000
2018	5,605,000	428,000
Prior	1,462,000	1,231,000
Revolving loans amortized cost basis	16,565,000	10,162,000
Total	32,416,000	19,064,000
Commercial Financial And Agricultural [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	16,000
Prior	200,000	200,000
Revolving loans amortized cost basis	4,865,000	4,687,000
Total	5,065,000	4,903,000
Real-Estate Commercial [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	2,816,737,000	2,718,535,000	2,531,700,000
2022	218,701,000	805,445,000
2021	784,194,000	894,819,000
2020	868,387,000	434,483,000
2019	411,661,000	157,887,000
2018	154,877,000	197,782,000
Prior	332,930,000	179,667,000
Revolving loans amortized cost basis	45,987,000	48,452,000
Total	2,816,737,000	2,718,535,000
Real-Estate Commercial [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	217,789,000	802,878,000
2021	781,652,000	858,426,000
2020	840,423,000	407,944,000
2019	385,224,000	155,892,000
2018	145,916,000	195,756,000
Prior	326,313,000	172,702,000
Revolving loans amortized cost basis	45,914,000	48,354,000
Total	2,743,231,000	2,641,952,000
Real-Estate Commercial [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	912,000	2,567,000
2021	2,542,000	14,338,000
2020	5,877,000	23,134,000
2019	22,938,000	0
2018	8,724,000	916,000
Prior	5,366,000	5,630,000
Revolving loans amortized cost basis	73,000	98,000
Total	46,432,000	46,683,000
Real-Estate Commercial [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	22,055,000
2020	22,087,000	3,405,000
2019	3,499,000	1,995,000
2018	237,000	1,110,000
Prior	1,251,000	1,335,000
Revolving loans amortized cost basis	0	0
Total	27,074,000	29,900,000
Real-Estate Construction [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	285,083,000	283,918,000	249,652,000
2022	27,984,000	142,306,000
2021	143,949,000	60,452,000
2020	42,827,000	42,424,000
2019	40,137,000	29,995,000
2018	20,000,000	198,000
Prior	273,000	0
Revolving loans amortized cost basis	9,913,000	8,543,000
Total	285,083,000	283,918,000
Real-Estate Construction [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	27,984,000	137,622,000
2021	120,060,000	59,952,000
2020	42,327,000	38,592,000
2019	35,566,000	9,995,000
2018	0	198,000
Prior	273,000	0
Revolving loans amortized cost basis	9,913,000	8,543,000
Total	236,123,000	254,902,000
Real-Estate Construction [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	4,684,000
2021	23,889,000	500,000
2020	500,000	3,832,000
2019	4,571,000	20,000,000
2018	20,000,000	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	48,960,000	29,016,000
Real-Estate Construction [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Revolving loans amortized cost basis	0	0
Total	0	0
Real Estate Residential Secured For Business Purpose [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	412,486,000	409,900,000	387,801,000
2022	30,735,000	154,633,000
2021	143,361,000	85,334,000
2020	81,312,000	51,970,000
2019	47,555,000	34,418,000
2018	31,500,000	28,949,000
Prior	48,785,000	28,461,000
Revolving loans amortized cost basis	29,238,000	26,135,000
Total	412,486,000	409,900,000
Real Estate Residential Secured For Business Purpose [Member] | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2022	30,735,000	154,423,000
2021	143,361,000	84,982,000
2020	81,059,000	51,970,000
2019	47,555,000	34,373,000
2018	31,457,000	28,852,000
Prior	46,896,000	25,819,000
Revolving loans amortized cost basis	29,087,000	25,564,000
Total	410,150,000	405,983,000
Real Estate Residential Secured For Business Purpose [Member] | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	210,000
2021	0	352,000
2020	253,000	0
2019	0	0
2018	0	73,000
Prior	960,000	1,093,000
Revolving loans amortized cost basis	0	0
Total	1,213,000	1,728,000
Real Estate Residential Secured For Business Purpose [Member] | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	45,000
2018	43,000	24,000
Prior	929,000	1,549,000
Revolving loans amortized cost basis	151,000	571,000
Total	1,123,000	2,189,000
Real Estate-Residential Secured For Personal Purpose [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	568,735,000	540,566,000	494,349,000
2022	54,140,000	219,733,000
2021	216,100,000	163,243,000
2020	156,648,000	34,102,000
2019	29,247,000	23,436,000
2018	21,000,000	19,912,000
Prior	91,536,000	79,951,000
Revolving loans amortized cost basis	64,000	189,000
Total	568,735,000	540,566,000
Real Estate-Residential Secured For Personal Purpose [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	54,140,000	219,680,000
2021	216,048,000	162,609,000
2020	156,027,000	34,102,000
2019	29,247,000	23,065,000
2018	20,629,000	19,912,000
Prior	90,321,000	78,960,000
Revolving loans amortized cost basis	64,000	189,000
Total	566,476,000	538,517,000
Real Estate-Residential Secured For Personal Purpose [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	53,000
2021	52,000	634,000
2020	621,000	0
2019	0	371,000
2018	371,000	0
Prior	1,215,000	991,000
Revolving loans amortized cost basis	0	0
Total	2,259,000	2,049,000
Real Estate Home Equity Secured For Personal Purpose [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	160,134,000	158,909,000	162,529,000
2022	302,000	961,000
2021	943,000	876,000
2020	665,000	370,000
2019	359,000	588,000
2018	511,000	704,000
Prior	2,143,000	1,715,000
Revolving loans amortized cost basis	155,211,000	153,695,000
Total	160,134,000	158,909,000
Real Estate Home Equity Secured For Personal Purpose [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	302,000	961,000
2021	943,000	876,000
2020	665,000	370,000
2019	359,000	415,000
2018	340,000	704,000
Prior	2,086,000	1,655,000
Revolving loans amortized cost basis	154,899,000	153,332,000
Total	159,594,000	158,313,000
Real Estate Home Equity Secured For Personal Purpose [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	173,000
2018	171,000	0
Prior	57,000	60,000
Revolving loans amortized cost basis	312,000	363,000
Total	540,000	596,000
Loans to Individuals [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	26,249,000	25,504,000	25,468,000
2022	387,000	1,376,000
2021	1,169,000	893,000
2020	785,000	722,000
2019	560,000	466,000
2018	368,000	100,000
Prior	1,754,000	1,853,000
Revolving loans amortized cost basis	21,226,000	20,094,000
Total	26,249,000	25,504,000
Loans to Individuals [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	387,000	1,376,000
2021	1,169,000	893,000
2020	785,000	722,000
2019	560,000	466,000
2018	368,000	100,000
Prior	1,569,000	1,673,000
Revolving loans amortized cost basis	21,226,000	20,094,000
Total	26,064,000	25,324,000
Loans to Individuals [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	185,000	180,000
Revolving loans amortized cost basis	0	0
Total	185,000	180,000
Lease Financings [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and leases held for investment	188,579,000	184,541,000	$ 163,059,000
2022	21,441,000	83,161,000
2021	78,492,000	51,822,000
2020	46,944,000	28,469,000
2019	25,353,000	16,447,000
2018	13,331,000	4,211,000
Prior	3,018,000	431,000
Revolving loans amortized cost basis	0	0
Total	188,579,000	184,541,000
Lease Financings [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	21,441,000	83,161,000
2021	78,330,000	51,808,000
2020	46,930,000	28,405,000
2019	25,318,000	16,389,000
2018	13,314,000	4,204,000
Prior	3,008,000	391,000
Revolving loans amortized cost basis	0	0
Total	188,341,000	184,358,000
Lease Financings [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	162,000	14,000
2020	14,000	64,000
2019	35,000	58,000
2018	17,000	7,000
Prior	10,000	40,000
Revolving loans amortized cost basis	0	0
Total	238,000	183,000
Financing Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2022	76,270,000	305,231,000
2021	296,704,000	216,834,000
2020	205,042,000	63,663,000
2019	55,519,000	40,937,000
2018	35,210,000	24,927,000
Prior	98,451,000	83,950,000
Revolving loans amortized cost basis	176,501,000	173,978,000
Total	$ 943,697,000	$ 909,520,000

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Loans and Leases - Allowance for Credit Losses, Loans and Leases, Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 71,924	$ 83,044
Provision (reversal of provision) for loan and lease losses	(3,562)	11,259
Charge-offs	(348)	(485)
Recoveries	272	197
Ending balance	68,286	71,497
Commercial Financial And Agricultural [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	13,536	13,584
Provision (reversal of provision) for loan and lease losses	1,671	(3,078)
Charge-offs	(214)	(338)
Recoveries	189	65
Ending balance	11,840	10,233
Paycheck Protection Program Loans
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2
Provision (reversal of provision) for loan and lease losses	(1)
Charge-offs	0
Recoveries	0
Ending balance	1	0
Real-Estate Commercial [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	41,095	52,230
Provision (reversal of provision) for loan and lease losses	(669)	6,771
Charge-offs	0	0
Recoveries	0	0
Ending balance	40,426	45,459
Real-Estate Construction [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,575	3,298
Provision (reversal of provision) for loan and lease losses	941	499
Charge-offs	0	0
Recoveries	0	0
Ending balance	3,634	2,799
Real Estate Residential Secured For Business Purpose [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	6,482	7,317
Provision (reversal of provision) for loan and lease losses	(328)	679
Charge-offs	0	0
Recoveries	48	54
Ending balance	6,202	6,692
Real Estate Residential Secured For Personal Purpose [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,403	3,055
Provision (reversal of provision) for loan and lease losses	189	(1)
Charge-offs	0	0
Recoveries	0	0
Ending balance	2,592	3,056
Real Estate Home Equity Secured For Personal Purpose [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,028	1,176
Provision (reversal of provision) for loan and lease losses	(53)	(79)
Charge-offs	0	0
Recoveries	1	2
Ending balance	976	1,257
Loans to Individuals [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	363	533
Provision (reversal of provision) for loan and lease losses	(57)	(58)
Charge-offs	(75)	(56)
Recoveries	24	28
Ending balance	369	447
Lease Financings [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,290	1,701
Provision (reversal of provision) for loan and lease losses	(5)	(254)
Charge-offs	(59)	(91)
Recoveries	10	48
Ending balance	2,246	1,404
Unallocated [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	150	150
Provision (reversal of provision) for loan and lease losses	(150)	0
Ending balance	$ 0	$ 150

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Loans and Leases - Allowance for Loan and Lease Losses and Recorded Investment in Loans and Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	$ 954		$ 281
Ending balance: pooled	67,332		71,216
Financing Receivable, Allowance for Credit Loss	68,286	$ 71,924	71,497	$ 83,044
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	30,727		29,847
Ending balance: pooled	5,370,046		5,385,007
Loans measured at fair value	13		152
Total loans and leases held for investment	5,400,786	5,310,017	5,415,006
Commercial Financial And Agricultural [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		253
Ending balance: pooled	11,840		9,980
Financing Receivable, Allowance for Credit Loss	11,840	13,536	10,233	13,584
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	448		2,006
Ending balance: pooled	932,037		869,990
Loans measured at fair value	0		0
Total loans and leases held for investment	932,485	956,396	871,996
Paycheck Protection Program Loans
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	1		0
Financing Receivable, Allowance for Credit Loss	1	2	0
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	10,298		528,452
Loans measured at fair value	0		0
Total loans and leases held for investment	10,298	31,748	528,452
Real-Estate Commercial [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	954		0
Ending balance: pooled	39,472		45,459
Financing Receivable, Allowance for Credit Loss	40,426	41,095	45,459	52,230
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	26,411		22,026
Ending balance: pooled	2,790,313		2,509,522
Loans measured at fair value	13		152
Total loans and leases held for investment	2,816,737	2,718,535	2,531,700
Real-Estate Construction [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	3,634		2,799
Financing Receivable, Allowance for Credit Loss	3,634	4,575	2,799	3,298
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	285,083		249,652
Loans measured at fair value	0		0
Total loans and leases held for investment	285,083	283,918	249,652
Real Estate Residential Secured For Business Purpose [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		3
Ending balance: pooled	6,202		6,689
Financing Receivable, Allowance for Credit Loss	6,202	6,482	6,692	7,317
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	1,120		2,859
Ending balance: pooled	411,366		384,942
Loans measured at fair value	0		0
Total loans and leases held for investment	412,486	409,900	387,801
Real Estate Residential Secured For Personal Purpose [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		25
Ending balance: pooled	2,592		3,031
Financing Receivable, Allowance for Credit Loss	2,592	2,403	3,056	3,055
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	2,259		1,867
Ending balance: pooled	566,476		492,482
Loans measured at fair value	0		0
Total loans and leases held for investment	568,735	540,566	494,349
Real Estate Home Equity Secured For Personal Purpose [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	976		1,257
Financing Receivable, Allowance for Credit Loss	976	1,028	1,257	1,176
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	489		1,089
Ending balance: pooled	159,645		161,440
Loans measured at fair value	0		0
Total loans and leases held for investment	160,134	158,909	162,529
Loans to Individuals [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	369		447
Financing Receivable, Allowance for Credit Loss	369	363	447	533
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	26,249		25,468
Loans measured at fair value	0		0
Total loans and leases held for investment	26,249	25,504	25,468
Lease Financings [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	2,246		1,404
Financing Receivable, Allowance for Credit Loss	2,246	2,290	1,404	1,701
Loans and leases held for investment [Abstract]
Ending balance: individually analyzed	0		0
Ending balance: pooled	188,579		163,059
Loans measured at fair value	0		0
Total loans and leases held for investment	188,579	184,541	163,059
Unallocated [Member]
Allowance For Credit Losses, Loans And Leases [Abstract]
Ending balance: pooled	0		150
Financing Receivable, Allowance for Credit Loss	$ 0	$ 150	$ 150	$ 150

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Loans and Leases - Accruing and Nonaccruing Troubled Debt Restructured Loans with Payment Defaults (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) loan	Mar. 31, 2021 USD ($) loan
Accrual Troubled Debt Restructuring Loans [Member]
Financing Receivables Troubled Debt Restructurings That Subsequently Defaulted [Abstract]
Number of loans | loan	0	0
Pre-restructuring outstanding recorded investment	$ 0	$ 0
Post-restructuring outstanding recorded investment	$ 0	$ 0
Nonaccrual Troubled Debt Restructuring Loans [Member]
Financing Receivables Troubled Debt Restructurings That Subsequently Defaulted [Abstract]
Number of loans | loan	1	0
Pre-restructuring outstanding recorded investment	$ 87	$ 0
Post-restructuring outstanding recorded investment	$ 87	$ 0
Nonaccrual Troubled Debt Restructuring Loans [Member] | Real Estate Residential Secured For Business Purpose [Member]
Financing Receivables Troubled Debt Restructurings That Subsequently Defaulted [Abstract]
Number of loans | loan	1	0
Pre-restructuring outstanding recorded investment	$ 87	$ 0
Post-restructuring outstanding recorded investment	$ 87	$ 0

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Loans and Leases - Schedule of Concessions Granted on Accruing and Nonaccrual Troubled Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) loan	Mar. 31, 2021 loan
Accrual Troubled Debt Restructuring Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans	0	0
Nonaccrual Troubled Debt Restructuring Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans	1	0
Nonaccrual Troubled Debt Restructuring Loans [Member] | Maturity Date Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans	1
Financing receivable modifications, recorded investments | $	$ 87
Real Estate Residential Secured For Business Purpose [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans	1	0
Real Estate Residential Secured For Business Purpose [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | Maturity Date Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of loans	1
Financing receivable modifications, recorded investments | $	$ 87

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Loans and Leases - Lease Payments Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
2022 (excluding the three months ended March 31, 2022)	$ 53,014	$ 67,458
2023	59,657	54,859
2024	43,803	39,019
2025	28,588	24,426
2026	14,730	11,039
Thereafter	3,985	2,951
Total future minimum lease payments receivable	203,777	199,752
Plus: Unguaranteed residual	1,258	1,186
Plus: Initial direct costs	2,748	2,707
Less: Imputed interest	(19,204)	(19,104)
Lease financings	$ 188,579	$ 184,541

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Goodwill and Other Intangible Assets - Narrative (Details) - Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Aggregate fair value of servicing rights	$ 15,100	$ 11,300
Range of discount rates used for valuation of servicing rights	10.20%	10.20%

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Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Goodwill [Line Items]
Goodwill, beginning balance	$ 175,510
Goodwill, acquired during period	0
Goodwill, ending balance	175,510
Banking1
Goodwill [Line Items]
Goodwill, beginning balance	138,476
Goodwill, acquired during period	0
Goodwill, ending balance	138,476
Wealth Management [Member]
Goodwill [Line Items]
Goodwill, beginning balance	15,434
Goodwill, acquired during period	0
Goodwill, ending balance	15,434
Insurance [Member]
Goodwill [Line Items]
Goodwill, beginning balance	21,600
Goodwill, acquired during period	0
Goodwill, ending balance	$ 21,600

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Goodwill and Other Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 42,555	$ 41,841
Accumulated amortization	(30,771)	(29,993)
Net carrying amount	11,784	11,848
Core Deposits [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	6,788	6,788
Accumulated amortization	(5,566)	(5,425)
Net carrying amount	1,222	1,363
Customer Related Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	8,493	8,493
Accumulated amortization	(6,053)	(5,886)
Net carrying amount	2,440	2,607
Servicing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	27,274	26,560
Accumulated amortization	(19,152)	(18,682)
Net carrying amount	8,122	7,878
Valuation allowance included in accumulated amortization	$ 7	$ 13	$ 1	$ 87

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Goodwill and Other Intangible Assets - Estimated Amortization Expense for Core Deposit and Customer Related Intangibles (Details) - Core Deposits And Customer Related Intangible Assets $ in Thousands	Mar. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Remainder of 2022	$ 849
2023	845
2024	648
2025	469
2026	319
Thereafter	532
Total: Estimated amortization expense for core deposit and customer related intangibles	$ 3,662

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Goodwill and Other Intangible Assets - Changes in Servicing Rights (Details) - Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Beginning of period	$ 7,878	$ 6,408
Servicing rights capitalized	714	1,313
Amortization of servicing rights	(476)	(792)
Changes in valuation allowance	6	86
End of period	8,122	7,015
Residential mortgage and SBA loans serviced for others	$ 1,440,562	$ 1,255,124

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Goodwill and Other Intangible Assets - Activity In Valuation Allowance For Servicing Rights (Details) - Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward]
Valuation allowance, beginning of period	$ (13)	$ (87)
Reductions	6	86
Valuation allowance, end of period	$ (7)	$ (1)

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Goodwill and Other Intangible Assets - Estimated Amortization Expense of Servicing Rights (Details) - Servicing Rights [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Remainder of 2022	$ 1,130
2023	994
2024	871
2025	762
2026	664
Thereafter	3,701
Total: Estimated amortization expense of servicing rights	$ 8,122	$ 7,878	$ 7,015	$ 6,408

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Deposits - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Deposits [Abstract]
Aggregate amount of time deposits in denominations over $250 thousand	$ 110.6	$ 119.9

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Deposits - Schedule of Components of Weighted Average Interest Rate and Balance of Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Weighted Average Rate Domestic Deposit Liabilities [Abstract]
Noninterest-bearing deposits	0.00%	0.00%
Demand deposits	0.21%	0.17%
Savings deposits	0.08%	0.04%
Time deposits	1.05%	1.06%
Total deposits	0.18%	0.16%
Deposits [Abstract]
Noninterest-bearing deposits	$ 2,136,467	$ 2,065,423
Interest-bearing Domestic Deposit, Demand	2,404,300	2,493,604
Deposits, Savings Deposits	1,040,890	1,011,931
Time Deposits	466,275	484,166
Deposits, Total	$ 6,047,932	$ 6,055,124

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Deposits - Schedule of Maturities of Time Deposits (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposits [Abstract]
Remainder of 2022	$ 198,418
2023	181,608
2024	50,943
2025	15,075
2026	3,576
Thereafter	16,655
Time Deposits, Total	$ 466,275	$ 484,166

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Borrowings - Additional Information (Detail) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Maximum borrowing capacity with FHLB	$ 2,500,000,000
Outstanding short-term letters of credit	620,000,000	$ 831,800,000
Available borrowing capacity from the Federal Home Loan Bank	1,800,000,000
Investment securities collateral for Federal Reserve Bank Discount Window Lending program	74,500,000	28,800,000
Outstanding amount of federal fund line of credit with Federal Reserve Bank of Philadelphia	0	0
Amount of maintained line of credit with correspondent bank - parent company	10,000,000	10,000,000
Outstanding amount of line of credit with correspondent bank - parent company	0	0
Total committed borrowing capacity	2,600,000,000	2,500,000,000
Total committed borrowing capacity available	1,900,000,000	$ 1,600,000,000
Amount of maintained federal fund lines of credit with correspondent banks	$ 400,000,000

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Borrowings - Summary of Borrowings By Type (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Borrowings [Line Items]
Balance at end of period	$ 18,976	$ 20,106
Federal Home Loan Bank Advances [Member]
Schedule of Borrowings [Line Items]
Balance at end of period	$ 95,000	$ 95,000
Weighted average interest rate	1.34%	1.34%
Subordinated Debt [Member]
Schedule of Borrowings [Line Items]
Balance at end of period	$ 98,952	$ 98,874
Weighted average interest rate	5.31%	5.31%
Customer Repurchase Agreements [Member]
Schedule of Borrowings [Line Items]
Balance at end of period	$ 18,976	$ 20,106
Weighted average interest rate	0.05%	0.05%

XML

Borrowings - Schedule of Maturities of Long-term FHLB Advances (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 0
2023	35,000
2024	60,000
2025	0
2026	0
Thereafter	0
Total advances	$ 95,000
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate of Amounts Due [Abstract]
Remainder of 2022 weighted average interest rate	0.00%
2023 weighted average interest rate	1.94%
2024 weighted average interest rate	0.98%
2025 weighted average interest rate	0.00%
2026 weighted average interest rate	0.00%
Thereafter weighted average interest rate	0.00%
Weighted average interest rate	1.34%

XML

Retirement Plans and Other Post Retirement Benefits - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Other Post Retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions for next fiscal year		$ 96
Defined benefit plan, contributions by employer	$ 24
Defined benefit plan, benefits paid	24
Nonqualified Plan [Member] | Retirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions for next fiscal year		$ 156
Defined benefit plan, contributions by employer	39
Defined benefit plan, benefits paid	$ 697

XML

Retirement Plans and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Retirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 137	$ 130
Interest cost	390	354
Expected loss on plan assets	(933)	(892)
Amortization of net actuarial loss	204	317
Net periodic benefit (income) cost	(202)	(91)
Other Post Retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	30	36
Interest cost	24	21
Expected loss on plan assets	0	0
Amortization of net actuarial loss	14	12
Net periodic benefit (income) cost	$ 68	$ 69

XML

Stock-Based Incentive Plan - Status of Options Granted Under Long-Term Incentive Plan (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) $ / shares shares
Shares Under Option
Shares under option, outstanding, beginning balance | shares	351,252
Shares under option, expired | shares	(1,500)
Shares under option, forfeited | shares	(3,000)
Shares under option, exercised | shares	(25,781)
Shares under option, outstanding, ending balance | shares	320,971
Shares under options, exercisable at March 31, 2022 | shares	320,971
Weighted Average Exercise Price Per Share [Abstract]
Weighted average exercise price per share, outstanding, beginning balance | $ / shares	$ 25.74
Weighted average exercise price per share, outstanding, expired | $ / shares	14.80
Weighted average exercise price per share, outstanding, forfeited | $ / shares	28.33
Weighted average exercise price per share, outstanding, exercised | $ / shares	22.33
Weighted average exercise price per share, outstanding, ending balance | $ / shares	26.05
Weighted average exercise price per share, exercisable at March 31, 2022 | $ / shares	$ 26.05
Weighted average remaining contractual life, outstanding at March 31, 2022	4 years 9 months 18 days
Weighted average remaining contractual life, exerciseable at March 31, 2022	4 years 9 months 18 days
Aggregated intrinsic value, outstanding at March 31, 2022 | $	$ 610
Aggregated intrinsic value, exercisable at March 31, 2022 | $	$ 610

XML

Stock-Based Incentive Plan - Summary of Nonvested Restricted Stock Units (Detail)	3 Months Ended
	Mar. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested share units, beginning balance | shares	358,134
Nonvested share units, granted | shares	164,319
nonvested share units, cancelled by performance factor | shares	(555)
Nonvested share units, vested | shares	(118,834)
Nonvested share units, cancelled or forfeited | shares	(1,864)
Nonvested share units, ending balance | shares	401,200
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, beginning balance | $ / shares	$ 23.61
Weighted average grant date fair value, granted | $ / shares	$ 28.36
Weighted average grant date fair value, cancelled by performance factor | $ / shares	23.18
Weighted average grant date fair value, vested | $ / shares	$ 23.29
Weighted average grant date fair value, cancelled or forfeited | $ / shares	25.17
Weighted average grant date fair value, ending balance | $ / shares	$ 25.61

XML

Stock-Based Incentive Plan - Certain Information Regarding Restricted Stock Units (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted	164,319
Weighted average grant date fair value	$ 28.36
Restricted stock units vested	118,834
Weighted average grant date fair value	$ 23.29
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted	164,319	139,007
Weighted average grant date fair value	$ 28.36	$ 27.67
Intrinsic value of units granted	$ 4,660	$ 3,847
Restricted stock units vested	118,834	85,731
Weighted average grant date fair value	$ 23.29	$ 22.68
Intrinsic value of units vested	$ 3,377	$ 2,354

XML

Stock-Based Incentive Plan - Schedule of Unrecognized Compensation Cost, Nonvested Units (Detail) - Restricted Stock Units (RSUs) [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 8,241
Weighted-average period remaining (years)	2 years 3 months 18 days

XML

Stock-Based Incentive Plan - Compensation Expense Related to Stock Incentive Plans Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Total expense	$ 959	$ 897
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	1	33
Stock Options [Member]
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Total expense	0	62
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Total expense	934	812
Employee Stock Purchase Plan [Member]
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Total expense	$ 25	$ 23

XML

Accumulated Other Comprehensive (Loss) Income - Components of Accumulated Other Comprehensive (Loss) Income, Net of Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	$ (16,353)
Other comprehensive (loss) income	(15,556)	$ 1,704
Ending balance	(31,909)
Net Unrealized Holding (Losses) Gains on Available-for-Sale Investment Securities [Member]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	(1,216)	(1,379)
Other comprehensive (loss) income	(15,842)	1,379
Ending balance	(17,058)	0
Net Change Related to Derivatives Used for Cash Flow Hedge [Member]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	(159)	(421)
Other comprehensive (loss) income	114	65
Ending balance	(45)	(356)
Net Change Related to Defined Benefit Pension Plan [Member]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	(14,978)	(20,344)
Other comprehensive (loss) income	172	260
Ending balance	(14,806)	(20,084)
Accumulated Other Comprehensive (Loss) Income [Member]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	(16,353)	(22,144)
Other comprehensive (loss) income	(15,556)	1,704
Ending balance	$ (31,909)	$ (20,440)

XML

Derivative Instruments and Hedging Activities- Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2022 USD ($) instrument	Jun. 30, 2015	Dec. 31, 2021 USD ($)	Dec. 31, 2015 USD ($)
Derivative [Line Items]
Loans receivable with fixed rates of interest maturity period		10 years
Loans receivable with fixed rates				$ 29,100
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 14,393		$ 14,611
Derivative liabilities	57		202
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	862,909		844,974
Derivative liabilities	704		383
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 11		46
Loans receivable with fixed rates of interest maturity period	15 years
Derivative fixed interest rate	7.43%
Loans receivable fixed interest rate (percentage)	7.43%
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Derivative liabilities	$ 2		2
Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 769,329		755,576
Derivative number of instruments held | instrument	126
Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Derivative liabilities	$ 457		381
Underlying derivative at fair value	457
Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount				$ 20,000
Derivative fixed interest rate				2.10%
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months	40
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	14,393		14,611
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Derivative liabilities	$ 57		$ 202
Minimum [Member] | Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative remaining maturity	1 month
Maximum [Member] | Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative remaining maturity	12 years
One-Month LIBOR [Member] | Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Basis points	2.24%
Customer [Member] | Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Underlying derivative at fair value	$ 2,100

XML

Derivative Instruments and Hedging Activities - Derivatives Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss)	$ 114	$ 65
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount				$ 20,000
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	14,393		$ 14,611
Derivative assets	0		0
Derivative liabilities	57		202
Total net gain (loss)	(68)	(76)
Gain (loss) recognized in other comprehensive income (loss)	(45)		(159)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	14,393		14,611
Gain (loss) recognized in other comprehensive income (loss)	(45)		(159)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total net gain (loss)	68	$ 76
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Other Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	0		0
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities	$ 57		$ 202

XML

Derivative Instruments and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Notional amount	$ 862,909		$ 844,974
Derivative assets	806		852
Derivative liabilities	704		383
Derivative instruments not designated as hedging instruments, gain (loss), net	159	$ 1,351
Interest Rate Swap [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Notional amount	11		46
Interest Rate Swap [Member] | Other Assets [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative assets	0		0
Interest Rate Swap [Member] | Other Liabilities [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative liabilities	2		2
Credit Risk Contract [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Notional amount	769,329		755,576
Credit Risk Contract [Member] | Other Noninterest Income [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	450	1,107
Credit Risk Contract [Member] | Other Assets [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative assets	0		0
Credit Risk Contract [Member] | Other Liabilities [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative liabilities	457		381
Interest Rate Locks With Customers [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Notional amount	39,524		33,876
Interest Rate Locks With Customers [Member] | Mortgage Banking Activities [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	(1,010)	(1,730)
Interest Rate Locks With Customers [Member] | Other Assets [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative assets	0		765
Interest Rate Locks With Customers [Member] | Other Liabilities [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative liabilities	245		0
Forward Loan Sale Commitments [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Notional amount	54,045		55,476
Forward Loan Sale Commitments [Member] | Mortgage Banking Activities [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	719	$ 1,974
Forward Loan Sale Commitments [Member] | Other Assets [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative assets	806		87
Forward Loan Sale Commitments [Member] | Other Liabilities [Member]
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items]
Derivative liabilities	$ 0		$ 0

XML

Fair Value Disclosures - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing rights carrying amount before valuation allowance	$ 8,100	$ 7,900
Other real estate owned	279
Held for Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of individually analyzed loans and leases held for investment	30,700	33,100
Valuation allowance of individually analyzed loans and leases held for investment	954	11
Lease Financings [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of individually analyzed loans and leases held for investment	$ 0	$ 0

XML

Fair Value Disclosures- Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	$ 349,994	$ 317,007
Investments in equity securities	2,569	2,999
Total assets	13		$ 152
Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	349,994	317,007
Investments in equity securities	2,569	2,999
Total assets	367,903	342,506
Liabilities
Total liabilities	2,424	2,214
Contingent Consideration Liability [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	1,663	1,629
Interest Rate Swap [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	59	204
Credit Risk Contract [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	457	381
Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	245
State and Political Subdivisions [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,312	2,333
Residential Mortgage-Backed Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	256,688	221,105
Collateralized Mortgage Obligations [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,947	3,278
Corporate Bonds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	88,047	90,291
Equity Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	980	979
Money Market Mutual Funds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	1,589	2,020
Loans | Fair Value Measure on Recurring Basis [Member]
Assets
Loans	13	48
Loans Held for Sale [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Loans Held-for-sale	14,521	21,600
Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset		765
Forward Loan Sale Commitments [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset	806	87
Level 1 [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Investments in equity securities	2,569	2,999
Total assets	2,569	2,999
Liabilities
Total liabilities	0	0
Level 1 [Member] | Contingent Consideration Liability [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0	0
Level 1 [Member] | Interest Rate Swap [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0	0
Level 1 [Member] | Credit Risk Contract [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0	0
Level 1 [Member] | Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0
Level 1 [Member] | State and Political Subdivisions [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 1 [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 1 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 1 [Member] | Corporate Bonds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 1 [Member] | Equity Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	980	979
Level 1 [Member] | Money Market Mutual Funds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	1,589	2,020
Level 1 [Member] | Loans | Fair Value Measure on Recurring Basis [Member]
Assets
Loans	0	0
Level 1 [Member] | Loans Held for Sale [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Loans Held-for-sale	0	0
Level 1 [Member] | Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset		0
Level 1 [Member] | Forward Loan Sale Commitments [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset	0	0
Level 2 [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	349,994	317,007
Investments in equity securities	0	0
Total assets	365,321	339,459
Liabilities
Total liabilities	304	204
Level 2 [Member] | Contingent Consideration Liability [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0	0
Level 2 [Member] | Interest Rate Swap [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	59	204
Level 2 [Member] | Credit Risk Contract [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0	0
Level 2 [Member] | Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	245
Level 2 [Member] | State and Political Subdivisions [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,312	2,333
Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	256,688	221,105
Level 2 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	2,947	3,278
Level 2 [Member] | Corporate Bonds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	88,047	90,291
Level 2 [Member] | Equity Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	0	0
Level 2 [Member] | Money Market Mutual Funds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	0	0
Level 2 [Member] | Loans | Fair Value Measure on Recurring Basis [Member]
Assets
Loans	0	0
Level 2 [Member] | Loans Held for Sale [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Loans Held-for-sale	14,521	21,600
Level 2 [Member] | Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset		765
Level 2 [Member] | Forward Loan Sale Commitments [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset	806	87
Level 3 [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Investments in equity securities	0	0
Total assets	13	48
Liabilities
Total liabilities	2,120	2,010
Level 3 [Member] | Contingent Consideration Liability [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	1,663	1,629
Level 3 [Member] | Interest Rate Swap [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0	0
Level 3 [Member] | Credit Risk Contract [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	457	381
Level 3 [Member] | Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Liabilities
Derivative liabilities	0
Level 3 [Member] | State and Political Subdivisions [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 3 [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 3 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 3 [Member] | Corporate Bonds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investment securities available-for-sale (amortized cost $372,860 and $319,474, net of allowance for credit losses of $1,275 and $929 at March 31, 2022 and December 31, 2021, respectively)	0	0
Level 3 [Member] | Equity Securities [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	0	0
Level 3 [Member] | Money Market Mutual Funds [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Investments in equity securities	0	0
Level 3 [Member] | Loans | Fair Value Measure on Recurring Basis [Member]
Assets
Loans	13	48
Level 3 [Member] | Loans Held for Sale [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Loans Held-for-sale	0	0
Level 3 [Member] | Interest Rate Locks With Customers [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset		0
Level 3 [Member] | Forward Loan Sale Commitments [Member] | Fair Value Measure on Recurring Basis [Member]
Assets
Derivative asset	$ 0	$ 0

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Fair Value Disclosures - Level 3 Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Net Asset (Liability) Value [Roll Forward]
Beginning balance	$ (333)	$ 9,252
Purchases/additions	(526)	(843)
Payments received	(35)	(33)
Increase (decrease) in value	450	1,105
Ending balance	(444)	9,481
Derivative Financial Instruments, Liabilities [Member] | Credit Risk Contract [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(381)	(535)
Additions	(526)	(843)
Payments received	0	0
Increase (decrease) in value	450	1,107
Ending balance	(457)	(271)
Corporate Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		9,600
Purchases/additions		0
Payments received		0
Increase (decrease) in value		0
Ending balance		9,600
Loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	48	187
Purchases/additions	0	0
Payments received	(35)	(33)
Increase (decrease) in value	0	(2)
Ending balance	$ 13	$ 152

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Fair Value Disclosures - Change in Contingent Consideration Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Change in Contingent Consideration Liability [Roll Forward]
Beginning balance	$ 1,629	$ 55
Payment of contingent consideration	0	29
Adjustment of contingent consideration	34	2
Ending balance	1,663	28
Paul I. Scheaffer Insurance Agency [Member]
Change in Contingent Consideration Liability [Roll Forward]
Beginning balance	1,629
Payment of contingent consideration	0
Adjustment of contingent consideration	34
Ending balance	$ 1,663
Girard Partners [Member]
Change in Contingent Consideration Liability [Roll Forward]
Beginning balance		55
Payment of contingent consideration		29
Adjustment of contingent consideration		2
Ending balance		$ 28

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Fair Value Disclosures - Assets Measured at Fair Value on Non-recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other real estate owned	$ 279
Total assets	13		$ 152
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans held for investment	29,773	$ 33,118
Other real estate owned	279	279
Total assets	30,052	33,397
Fair Value, Nonrecurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans held for investment	0	0
Other real estate owned	0	0
Total assets	0	0
Fair Value, Nonrecurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans held for investment	0	0
Other real estate owned	0	0
Total assets	0	0
Fair Value, Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Individually analyzed loans held for investment	29,773	33,118
Other real estate owned	279	279
Total assets	$ 30,052	$ 33,397

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Fair Value Disclosures - Assets, Liabilities and Off-balance Sheet Items Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Assets:
Held-to-maturity securities	$ 157,924	$ 178,402
Total assets	13		$ 152
Deposits:
Time Deposits	466,275	484,166
Subordinated notes	98,952	98,874
Estimate of Fair Value Measurement [Member]
Assets:
Cash and short-term interest-earning assets	773,781	890,150
Held-to-maturity securities	157,924	178,402
Net loans and leases held for investment	5,290,440	5,244,504
Servicing rights	15,106	11,331
Total assets	6,237,251	6,324,387
Deposits:
Demand and savings deposits, non-maturity	5,581,657	5,570,958
Time Deposits	460,580	487,874
Total deposits	6,042,237	6,058,832
Short-term borrowings	18,976	20,106
Long-term debt	93,343	95,707
Subordinated notes	102,250	107,000
Total liabilities	6,256,806	6,281,645
Estimate of Fair Value Measurement [Member] | Level 1 [Member]
Assets:
Cash and short-term interest-earning assets	773,781	890,150
Held-to-maturity securities	0	0
Net loans and leases held for investment	0	0
Servicing rights	0	0
Total assets	773,781	890,150
Deposits:
Demand and savings deposits, non-maturity	5,581,657	5,570,958
Time Deposits	0	0
Total deposits	5,581,657	5,570,958
Short-term borrowings	0	0
Long-term debt	0	0
Subordinated notes	0	0
Total liabilities	5,581,657	5,570,958
Estimate of Fair Value Measurement [Member] | Level 2 [Member]
Assets:
Cash and short-term interest-earning assets	0	0
Held-to-maturity securities	157,924	178,402
Net loans and leases held for investment	0	0
Servicing rights	0	0
Total assets	157,924	178,402
Deposits:
Demand and savings deposits, non-maturity	0	0
Time Deposits	460,580	487,874
Total deposits	460,580	487,874
Short-term borrowings	18,976	20,106
Long-term debt	93,343	95,707
Subordinated notes	102,250	107,000
Total liabilities	675,149	710,687
Estimate of Fair Value Measurement [Member] | Level 3 [Member]
Assets:
Cash and short-term interest-earning assets	0	0
Held-to-maturity securities	0	0
Net loans and leases held for investment	5,290,440	5,244,504
Servicing rights	15,106	11,331
Total assets	5,305,546	5,255,835
Deposits:
Demand and savings deposits, non-maturity	0	0
Time Deposits	0	0
Total deposits	0	0
Short-term borrowings	0	0
Long-term debt	0	0
Subordinated notes	0	0
Total liabilities	0	0
Carrying Amount [Member]
Assets:
Cash and short-term interest-earning assets	773,781	890,150
Held-to-maturity securities	166,339	176,983
Federal Home Loan Bank, Federal Reserve Bank and other stock	26,330	28,186
Net loans and leases held for investment	5,302,714	5,204,927
Servicing rights	8,122	7,878
Total assets	6,277,286	6,308,124
Deposits:
Demand and savings deposits, non-maturity	5,581,657	5,570,958
Time Deposits	466,275	484,166
Total deposits	6,047,932	6,055,124
Short-term borrowings	18,976	20,106
Long-term debt	95,000	95,000
Subordinated notes	98,952	98,874
Total liabilities	$ 6,260,860	$ 6,269,104

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Segment Reporting - Schedule of Segment Reporting (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) segment	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting [Abstract]
Reportable business segments | segment	3
Segment Reporting Information [Line Items]
Total assets	$ 7,107,740	$ 6,416,665	$ 7,122,421
Interest income	51,198	51,457
Interest expense	4,538	6,043
Net interest income	46,660	45,414
Provision (reversal of provision) for credit losses	(3,450)	(11,283)
Noninterest income	20,470	23,250
Noninterest Expense	45,412	39,540
Intersegment (revenues) expense	0	0
Income before income taxes	25,168	40,407
Income tax expense	4,851	7,804
Net income	20,317	32,603
Net capital expenditures	(5,494)	(1,187)
Banking1
Segment Reporting Information [Line Items]
Total assets	6,997,081	6,313,108	7,005,952
Interest income	51,189	51,449
Interest expense	3,180	3,719
Net interest income	48,009	47,730
Provision (reversal of provision) for credit losses	(3,450)	(11,283)
Noninterest income	7,370	11,230
Noninterest Expense	36,488	30,601
Intersegment (revenues) expense	(433)	(323)
Income before income taxes	22,774	39,965
Income tax expense	4,543	8,255
Net income	18,231	31,710
Net capital expenditures	(5,592)	(1,111)
Wealth Management [Member]
Segment Reporting Information [Line Items]
Total assets	53,174	48,016	54,076
Interest income	1	0
Interest expense	30	31
Net interest income	(29)	(31)
Provision (reversal of provision) for credit losses	0	0
Noninterest income	7,305	6,773
Noninterest Expense	4,709	4,086
Intersegment (revenues) expense	211	164
Income before income taxes	2,356	2,492
Income tax expense	492	514
Net income	1,864	1,978
Net capital expenditures	(63)	(5)
Insurance [Member]
Segment Reporting Information [Line Items]
Total assets	42,240	37,075	40,649
Interest income	0	0
Interest expense	0	0
Net interest income	0	0
Provision (reversal of provision) for credit losses	0	0
Noninterest income	5,764	5,105
Noninterest Expense	3,865	3,304
Intersegment (revenues) expense	222	159
Income before income taxes	1,677	1,641
Income tax expense	358	351
Net income	1,319	1,290
Net capital expenditures	(15)	(9)
Other Segments [Member]
Segment Reporting Information [Line Items]
Total assets	15,245	18,466	$ 21,744
Interest income	8	8
Interest expense	1,328	2,293
Net interest income	(1,320)	(2,285)
Provision (reversal of provision) for credit losses	0	0
Noninterest income	31	142
Noninterest Expense	350	1,549
Intersegment (revenues) expense	0	0
Income before income taxes	(1,639)	(3,692)
Income tax expense	(542)	(1,316)
Net income	(1,097)	(2,376)
Net capital expenditures	$ (20)	$ (62)