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Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the assets and liabilities measured at fair value on a recurring basis at December 31, 2024 and 2023, classified using the fair value hierarchy:
 At December 31, 2024
(Dollars in thousands)Level 1Level 2Level 3Assets/
Liabilities at
Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions$ $1,295 $ $1,295 
Residential mortgage-backed securities 283,381  283,381 
Collateralized mortgage obligations 1,685  1,685 
Corporate bonds 71,000  71,000 
Total available-for-sale securities 357,361  357,361 
Equity securities:
Money market mutual funds2,506   2,506 
Total equity securities2,506   2,506 
Loans held for sale 16,653  16,653 
Interest rate locks with customers* 214  214 
Forward loan sale commitments* 12  12 
Total assets$2,506 $374,240 $ $376,746 
Liabilities:
Contingent consideration liability$ $ $635 $635 
Credit derivatives*  67 67 
Total liabilities$ $ $702 $702 
*Such financial instruments are recorded at fair value as further described in Note 18, "Derivative Instruments and Hedging Activities."
The $67 thousand of credit derivatives liability represents the Credit Valuation Adjustment ("CVA"), which is obtained from real-time financial market data, of 135 interest rate swaps with a current notional amount of $860.4 million. The December 31, 2024, CVA is calculated using a 40% loss given default rate on the most recent investment grade credit curve.

The contingent consideration liability resulting from the Sheaffer acquisition was calculated using a discount rate of 8.3% on the acquisition date. During the year ended December 31, 2024, the Corporation paid $635 thousand in contingent consideration related to this acquisition. The contingent consideration liability was $635 thousand at December 31, 2024. The remaining potential cash payment that could result from the contingent consideration arrangement for the Sheaffer acquisition range from $0 to a maximum of $635 thousand through the measurement period ended November 30, 2024, to be made in the first quarter of 2025.
 At December 31, 2023
(Dollars in thousands)Level 1Level 2Level 3Assets/
Liabilities at
Fair Value
Assets:
Available-for-sale securities:
State and political subdivisions$— $2,301 $— $2,301 
Residential mortgage-backed securities— 264,552 — 264,552 
Collateralized mortgage obligations— 2,001 — 2,001 
Corporate bonds— 82,699 — 82,699 
Total available-for-sale securities— 351,553 — 351,553 
Equity securities:
Equity securities - financial services industry764 — — 764 
Money market mutual funds2,529 — — 2,529 
Total equity securities3,293 — — 3,293 
Loans held for sale— 11,637 — 11,637 
Interest rate locks with customers*— 717 — 717 
Total assets$3,293 $363,907 $— $367,200 
Liabilities:
Contingent consideration liability$— $— $1,224 $1,224 
Interest rate swaps*— 5,779 — 5,779 
Credit derivatives*— — 186 186 
Forward loan sale commitments*— 427 — 427 
Total liabilities$— $6,206 $1,410 $7,616 
*Such financial instruments are recorded at fair value as further described in Note 18, "Derivative Instruments and Hedging Activities."
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Level 3 Rollforward
The following table includes a rollforward of loans and credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the years ended December 31, 2024 and 2023.
 For the Year Ended December 31, 2024
(Dollars in thousands)Balance at December 31, 2023AdditionsPayments receivedIncrease in valueBalance at December 31, 2024
Credit derivatives(186)(443) 562 (67)
Net total $(186)$(443)$ $562 $(67)
 For the Year Ended December 31, 2023
(Dollars in thousands)Balance at
December 31,
2022
AdditionsPayments receivedIncrease in valueBalance at December 31, 2023
Credit derivatives(360)(988)— 1,162 (186)
Net total $(360)$(988)$— $1,162 $(186)
Contingent Consideration Liability Change in Amount
The following table presents the change in the balance of the contingent consideration liability related to acquisitions for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the years ended December 31, 2024 and 2023:
 For the Year Ended December 31, 2024
(Dollars in thousands)Balance at December 31, 2023Payment of
Contingent
Consideration
Adjustment
of Contingent
Consideration
Balance at December 31, 2024
Paul I. Sheaffer Insurance Agency$1,224 $635 $46 $635 
Total contingent consideration liability$1,224 $635 $46 $635 
 For the Year Ended December 31, 2023
(Dollars in thousands)Balance at
December 31,
2022
Payment of
Contingent
Consideration
Adjustment
of Contingent
Consideration
Balance at December 31, 2023
Paul I. Sheaffer Insurance Agency1,765 635 94 1,224 
Total contingent consideration liability$1,765 $635 $94 $1,224 
Assets Measured at Fair Value on Non-Recurring Basis
The Corporation may be required to periodically measure certain assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or changes in the value of individual assets. The following table represents assets measured at fair value on a non-recurring basis at December 31, 2024 and 2023:
 At December 31, 2024
(Dollars in thousands)Level 1Level 2Level 3Assets at
Fair Value
Individually analyzed loans held for investment$ $ $10,111 $10,111 
Other real estate owned  20,141 20,141 
Repossessed assets  76 76 
Total$ $ $30,328 $30,328 
 At December 31, 2023
(Dollars in thousands)Level 1Level 2Level 3Assets at
Fair Value
Individually analyzed loans held for investment$— $— $18,960 $18,960 
Other real estate owned— — 19,032 19,032 
Total$— $— $37,992 $37,992 
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 consolidated balance sheet but for which the fair value is required to be disclosed at December 31, 2024 and 2023. The disclosed fair values are classified using the fair value hierarchy.
 At December 31, 2024
(Dollars in thousands)Level 1Level 2Level 3Fair
Value
Carrying
Amount
Assets:
Cash and short-term interest-earning assets$328,844 $ $ $328,844 $328,844 
Held-to-maturity securities 115,007  115,007 134,111 
Federal Home Loan Bank, Federal Reserve Bank and other stockN/AN/AN/AN/A38,980 
Net loans and leases held for investment  6,586,054 6,586,054 6,729,381 
Servicing rights  12,710 12,710 6,990 
Total assets$328,844 $115,007 $6,598,764 $7,042,615 $7,238,306 
Liabilities:
Deposits:
Demand and savings deposits, non-maturity$5,305,553 $ $ $5,305,553 $5,305,553 
Time deposits 1,458,774  1,458,774 1,453,706 
Total deposits5,305,553 1,458,774  6,764,327 6,759,259 
Short-term borrowings11,181   11,181 11,181 
Long-term debt 225,475  225,475 225,000 
Subordinated notes 147,500  147,500 149,261 
Total liabilities$5,316,734 $1,831,749 $ $7,148,483 $7,144,701 
 At December 31, 2023
(Dollars in thousands)Level 1Level 2Level 3Fair
Value
Carrying
Amount
Assets:
Cash and short-term interest-earning assets$249,799 $— $— $249,799 $249,799 
Held-to-maturity securities— 128,277 — 128,277 145,777 
Federal Home Loan Bank, Federal Reserve Bank and other stockN/AN/AN/AN/A40,499 
Net loans and leases held for investment— — 6,290,455 6,290,455 6,462,867 
Servicing rights— — 17,724 17,724 8,982 
Total assets$249,799 $128,277 $6,308,179 $6,686,255 $6,907,924 
Liabilities:
Deposits:
Demand and savings deposits, non-maturity$5,221,989 $— $— $5,221,989 $5,221,989 
Time deposits— 1,153,775 — 1,153,775 1,153,792 
Total deposits5,221,989 1,153,775 — 6,375,764 6,375,781 
Short-term borrowings6,306 — — 6,306 6,306 
Long-term debt— 310,817 — 310,817 310,000 
Subordinated notes— 140,500 — 140,500 148,761 
Total liabilities$5,228,295 $1,605,092 $— $6,833,387 $6,840,848