Securities (Tables)

9 Months Ended

Sep. 30, 2016

Gain (Loss) on Investments [Line Items]

Reconciliation of fair value of securities

The following table presents a summary of the amortized cost and gross unrealized holding gains and losses recorded in other comprehensive income and fair value of securities available for sale and securities held to maturity for the periods below:



	September 30, 2016									December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Available for sale securities
U.S. government agency securities	$	24,502	$	804	$	—		$	25,306	$	29,958	$	261	$	(4	)	$	30,215
Agency mortgage-backed securities	178,095		7,481		(3		)	185,573		207,693		4,227		(983		)	210,937
Agency collateralized mortgage obligations	107,466		1,286		(156		)	108,596		64,157		179		(752		)	63,584
State, county, and municipal securities	4,255		105		—			4,360		4,543		116		—			4,659
Single issuer trust preferred securities issued by banks	2,324		4		(31		)	2,297		2,865		8		(81		)	2,792
Pooled trust preferred securities issued by banks and insurers	2,200		—		(662		)	1,538		2,217		—		(645		)	1,572
Small business administration pooled securities	38,678		1,202		—			39,880		40,472		87		(110		)	40,449
Equity securities	19,000		701		(243		)	19,458		13,235		374		(568		)	13,041
Total available for sale securities	$	376,520	$	11,583	$	(1,095	)	$	387,008	$	365,140	$	5,252	$	(3,143	)	$	367,249
Held to maturity securities
U.S. Treasury securities	$	1,008	$	81	$	—		$	1,089	$	1,009	$	55	$	—		$	1,064
Agency mortgage-backed securities	148,822		6,309		—			155,131		167,134		3,460		(219		)	170,375
Agency collateralized mortgage obligations	246,744		4,072		(556		)	250,260		267,348		1,195		(3,652		)	264,891
State, county, and municipal securities	—		—		—			—		225		2		—			227
Single issuer trust preferred securities issued by banks	1,500		47		—			1,547		1,500		22		—			1,522
Small business administration pooled securities	32,689		1,118		—			33,807		35,291		437		(64		)	35,664
Corporate debt securities	—		—		—			—		5,000		6		—			5,006
Total held to maturity securities	$	430,763	$	11,627	$	(556	)	$	441,834	$	477,507	$	5,177	$	(3,935	)	$	478,749
Total	$	807,283	$	23,210	$	(1,651	)	$	828,842	$	842,647	$	10,429	$	(7,078	)	$	845,998

Schedule of contractual maturities of securities

A schedule of the contractual maturities of securities available for sale and securities held to maturity as of September 30, 2016 is presented below:



	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(Dollars in thousands)
Due in one year or less	$	999	$	1,003	$	11	$	11
Due after one year to five years	30,422		31,258		16,099		16,739
Due after five to ten years	86,511		89,455		24,594		25,602
Due after ten years	239,588		245,834		390,059		399,482
Total debt securities	$	357,520	$	367,550	$	430,763	$	441,834
Equity securities	$	19,000	$	19,458	$	—	$	—
Total	$	376,520	$	387,008	$	430,763	$	441,834

Schedule of gross unrealized losses and fair value of investments

The following tables show the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company has not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:



	September 30, 2016
		Less than 12 months					12 months or longer					Total
	# of holdings	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
Agency mortgage-backed securities	2	$	1,016	$	(3	)	$	—	$	—		$	1,016	$	(3	)
Agency collateralized mortgage obligations	9	14,530		(30		)	51,578		(682		)	66,108		(712		)
Single issuer trust preferred securities issued by banks and insurers	2	—		—			2,048		(31		)	2,048		(31		)
Pooled trust preferred securities issued by banks and insurers	1	—		—			1,537		(662		)	1,537		(662		)
Equity securities	21	515		(16		)	6,903		(227		)	7,418		(243		)
Total temporarily impaired securities	35	$	16,061	$	(49	)	$	62,066	$	(1,602	)	$	78,127	$	(1,651	)



	December 31, 2015
		Less than 12 months					12 months or longer					Total
	# of holdings	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
U.S.government agency securities	3	$	1,990	$	(4	)	$	—	$	—		$	1,990	$	(4	)
Agency mortgage-backed securities	57	112,648		(1,062		)	4,297		(140		)	116,945		(1,202		)
Agency collateralized mortgage obligations	23	147,707		(1,420		)	80,927		(2,984		)	228,634		(4,404		)
Single issuer trust preferred securities issued by banks and insurers	2	1,018		(33		)	1,018		(48		)	2,036		(81		)
Pooled trust preferred securities issued by banks and insurers	1	—		—			1,572		(645		)	1,572		(645		)
Small business administration pooled securities	3	37,986		(174		)	—		—			37,986		(174		)
Equity securities	34	3,481		(189		)	4,971		(379		)	8,452		(568		)
Total temporarily impaired securities	123	$	304,830	$	(2,882	)	$	92,785	$	(4,196	)	$	397,615	$	(7,078	)

Schedule of Other Than Temporary Impairment [Table Text Block]

The following table shows the total OTTI that the Company recorded for the periods indicated:



	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
	(Dollars in thousands)
Gross change in OTTI recorded on certain investments	$	—	$	—	$	—	$	84
Portion of OTTI recognized in OCI	—		—		—		(84		)
Total credit related OTTI recognized in earnings	$	—	$	—	$	—	$	—

Summary of cumulative credit related component of OTTI

The following table shows the cumulative credit related component of OTTI for the periods indicated:



	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
	(Dollars in thousands)
Balance at beginning of period	$	—	$	—	$	—	$	(9,997	)
Add
Incurred on securities not previously impaired	—		—		—		—
Incurred on securities previously impaired	—		—		—		—
Less
Securities sold during the period	—		—		—		9,997
Reclassification due to changes in Company's intent	—		—		—		—
Increases in cash flow expected to be collected	—		—		—		—
Balance at end of period	$	—	$	—	$	—	$	—