Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

The following tables present the Corporation’s assets measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018:

As of March 31, 2019
(dollars in thousands)	Total		Level 1		Level 2		Level 3
Investment securities available for sale:
U.S. Treasury securities	$	100	$	100	$	—	$	—
Obligations of U.S. government & agencies	186,746		—		186,746		—
Obligations of state & political subdivisions	8,638		—		8,638		—
Mortgage-backed securities	322,913		—		322,913		—
Collateralized mortgage obligations	40,486		—		40,486		—
Other investment securities	1,100		—		1,100		—
Total investment securities available for sale	$	559,983	$	100	$	559,883	$	—
Investment securities trading:
Mutual funds	$	8,189	$	8,189	$	—	$	—
Derivatives:
Interest rate swaps	$	23,405	$	—	$	23,405	$	—
RPAs purchased	87		—		87		—
FX forwards	7		—		7		—
Total derivatives	$	23,499	$	—	$	23,499	$	—
Total recurring fair value measurements	$	591,671	$	8,289	$	583,382	$	—

As of December 31, 2018
(dollars in thousands)	Total		Level 1		Level 2		Level 3
Investment securities available for sale:
U.S. Treasury securities	$	200,013	$	200,013	$	—	$	—
Obligations of U.S. government & agencies	195,855		—		195,855		—
Obligations of state & political subdivisions	11,332		—		11,332		—
Mortgage-backed securities	289,890		—		289,890		—
Collateralized mortgage obligations	39,252		—		39,252		—
Other investment securities	1,100		—		1,100		—
Total investment securities available for sale	$	737,442	$	200,013	$	537,429	$	—
Investment securities trading:
Mutual funds	$	7,502	$	7,502	$	—	$	—
Derivatives:
Interest rate swaps	$	12,550	$	—	$	12,550	$	—
RPAs purchased	71		—		71		—
Total derivatives	$	12,621	$	—	$	12,621	$	—
Total recurring fair value measurements	$	757,565	$	207,515	$	550,050	$	—

The following tables present the Corporation’s assets measured at fair value on a non-recurring basis as of March 31, 2019 and December 31, 2018:

As of March 31, 2019
(dollars in thousands)	Total		Level 1		Level 2		Level 3
MSRs	$	5,754	$	—	$	—	$	5,754
Impaired loans and leases	23,815		—		—		23,815
OREO	84		—		—		84
Total non-recurring fair value measurements	$	29,653	$	—	$	—	$	29,653

As of December 31, 2018
(dollars in thousands)	Total		Level 1		Level 2		Level 3
MSRs	$	6,277	$	—	$	—	$	6,277
Impaired loans and leases	22,112		—		—		22,112
OREO	417		—		—		417
Total non-recurring fair value measurements	$	28,806	$	—	$	—	$	28,806