Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Fair Value by Balance Sheet Grouping

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

		June 30, 2021				December 31, 2020
(dollars in thousands)	Fair Value Hierarchy Level(1)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Cash and cash equivalents	Level 1	$	113,899	$	113,899	$	96,313	$	96,313
Investment securities - available for sale	See Note 20	728,738		728,738		1,174,964		1,174,964
Investment securities - trading	See Note 20	8,266		8,266		8,623		8,623
Investment securities – held to maturity	Level 2	12,532		12,761		14,759		15,186
Loans held for sale	Level 2	653		653		6,000		6,000
Net portfolio loans and leases	Level 3	3,578,248		3,512,883		3,574,702		3,489,322
MSRs	Level 3	2,173		2,173		2,626		2,632
Interest rate swaps	Level 2	87,483		87,483		113,848		113,848
FX forwards	Level 2	20		20		52		52
RPAs purchased	Level 2	230		230		342		342
Other assets	Level 3	36,057		36,057		45,847		45,847
Total financial assets		$	4,568,299	$	4,503,163	$	5,038,076	$	4,953,129
Financial liabilities:
Deposits	Level 2	$	3,959,745	$	3,960,432	$	4,376,254	$	4,379,021
Short-term borrowings	Level 2	21,553		21,553		72,161		72,161
Long-term FHLB advances	Level 2	39,976		40,171		39,906		40,441
Subordinated notes	Level 2	98,973		91,800		98,883		90,735
Junior subordinated debentures	Level 2	22,030		19,512		21,935		27,812
Interest rate swaps	Level 2	87,483		87,483		113,848		113,848
FX forwards	Level 2	3		3		70		70
RPAs sold	Level 2	18		18		30		30
Other liabilities	Level 3	45,507		45,507		45,734		45,734
Total financial liabilities		$	4,275,288	$	4,266,479	$	4,768,821	$	4,769,852

(1) See Note 20 in the Notes to Unaudited Consolidated Financial Statements above for a description of hierarchy levels.