Disclosure about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The carrying amount and fair value of the Corporation’s financial instruments are as follows:

		As of December 31,
		2020				2019
(dollars in thousands)	Fair Value Hierarchy Level(1)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Cash and cash equivalents	Level 1	$	96,313	$	96,313	$	53,931	$	53,931
Investment securities - available for sale	See Note 23	1,174,964		1,174,964		1,005,984		1,005,984
Investment securities - trading	See Note 23	8,623		8,623		8,621		8,621
Investment securities – held to maturity	Level 2	14,759		15,186		12,577		12,661
Loans held for sale	Level 2	6,000		6,000		4,249		4,249
Net portfolio loans and leases	Level 3	3,574,702		3,489,322		3,666,711		3,596,268
Mortgage servicing rights	Level 3	2,626		2,632		4,450		4,838
Interest rate swaps	Level 2	113,848		113,848		47,627		47,627
FX Forwards	Level 2	52		52		—		—
Risk participation agreements purchased	Level 2	342		342		90		90
Other assets	Level 3	45,847		45,847		52,908		52,908
Total financial assets		$	5,038,076	$	4,953,129	$	4,857,148	$	4,787,177
Financial liabilities:
Deposits	Level 2	$	4,376,254	$	4,379,021	$	3,842,245	$	3,842,014
Short-term borrowings	Level 2	72,161		72,161		493,219		493,219
Long-term FHLB advances	Level 2	39,906		40,441		52,269		52,380
Subordinated notes	Level 2	98,883		90,735		98,705		97,199
Junior subordinated debentures	Level 2	21,935		27,812		21,753		25,652
Interest rate swaps	Level 2	113,848		113,848		47,627		47,627
FX Forwards	Level 2	70		70		—		—
Risk participation agreements sold	Level 2	30		30		16		16
Other liabilities	Level 3	45,734		45,734		50,251		50,251
Total financial liabilities		$	4,768,821	$	4,769,852	$	4,606,085	$	4,608,358

(1) See Note 23, “Fair Value Measurement,” in the accompanying Notes to the Consolidated Financial Statements in this Annual Report on Form 10-K for a description of hierarchy levels.