Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2013

Summary of Fair Value of Assets Measured on a Recurring and Non-Recurring Basis

The following tables summarize the assets at September 30, 2013 and December 31, 2012 that are recognized on the Corporation’s balance sheet using fair value measurement determined based on the differing levels of input.

Fair value of assets measured on a recurring and non-recurring basis as of September 30, 2013:

(dollars in millions)	Total		Level 1		Level 2		Level 3
Assets Measured at Fair Value on a Recurring Basis:
Investment securities available for sale:
U.S. Treasury securities	$	0.1	$	0.1	$	—	$	—
Obligations of the U.S. government agencies		90.9		—		90.9		—
Obligations of state & political subdivisions		40.1		—		40.1		—
Mortgage-backed securities		124.3		—		124.3		—
Collateralized mortgage obligations		47.3		—		47.3		—
Mutual funds		11.5		11.5		—		—
Other investments		5.7		—		5.7		—
Total investment securities available for sale		319.9		11.6		308.3		—
Trading securities		2.4		—		2.4		—
Total assets measured on a recurring basis at fair value	$	322.3	$	11.6	$	310.7	$	—
Assets Measured at Fair Value on a Non-Recurring Basis
Mortgage servicing rights	$	0.8	$	—	$	—	$	0.8
Impaired loans and leases		18.1		—		—		18.1
Other real estate owned (“OREO”)		1.3		—		—		1.3
Total assets measured on a non-recurring basis at fair value	$	20.2	$	—	$	—	$	20.2

Fair value of assets measured on a recurring and non-recurring basis as of December 31, 2012:

(dollars in millions)	Total		Level 1		Level 2		Level 3
Assets Measured at Fair Value on a Recurring Basis:
Investment securities available for sale:
Obligations of the U.S. government agencies	$	73.9	$	—	$	73.9	$	—
Obligations of state & political subdivisions		30.4		—		30.4		—
Mortgage-backed securities		131.8		—		131.8		—
Collateralized mortgage obligations		62.7		—		62.7		—
Mutual funds		13.6		13.6		—		—
Other investments		4.2		—		4.2		—
Total investment securities available for sale		316.6		13.6		303.0		—
Trading securities		1.4		—		1.4		—
Total assets measured on a recurring basis at fair value	$	318.0	$	13.6	$	304.4	$	—
Assets Measured at Fair Value on a Non-Recurring Basis
Mortgage servicing rights	$	0.9	$	—	$	—	$	0.9
Impaired loans and leases		19.7		—		—		19.7
OREO		0.9		—		—		0.9
Total assets measured on a non-recurring basis at fair value	$	21.5	$	—	$	—	$	21.5