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Impairment of Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2017
Impairment of Investment Securities Disclosure [Abstract] |
Schedule of Unrealized Losses and Estimated Fair Values | The following table presents the gross unrealized losses and estimated fair values at December 31, 2017 for both available for sale and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:
| Less Than 12 Months |  | 12 Months or More |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 5,584 |  |  | $ | (21 | ) |  | $ | — |  |  | $ | — |  |  | $ | 5,584 |  |  | $ | (21 | )
Mortgage-Backed Securities – Commercial | 48,322 |  |  | (962 | ) |  | 32,683 |  |  | (894 | ) |  | 81,005 |  |  | (1,856 | )
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 351,222 |  |  | (2,295 | ) |  | 400,984 |  |  | (9,746 | ) |  | 752,206 |  |  | (12,041 | )
Mortgage-Backed Securities – Commercial | 13,985 |  |  | (71 | ) |  | — |  |  | — |  |  | 13,985 |  |  | (71 | )
Other Government-Sponsored Enterprises | 997 |  |  | (1 | ) |  | 99 |  |  | — |  |  | 1,096 |  |  | (1 | )
Obligations of States and Political Subdivisions | 7,144 |  |  | (32 | ) |  | 3,653 |  |  | (129 | ) |  | 10,797 |  |  | (161 | )
Corporate Securities | 3,993 |  |  | (4 | ) |  | — |  |  | — |  |  | 3,993 |  |  | (4 | )
Pooled Trust Preferred Collateralized Debt Obligations | — |  |  | — |  |  | 19,120 |  |  | (4,379 | ) |  | 19,120 |  |  | (4,379 | )
Total Securities | $ | 431,247 |  |  | $ | (3,386 | ) |  | $ | 456,539 |  |  | $ | (15,148 | ) |  | $ | 887,786 |  |  | $ | (18,534 | )
At December 31, 2017, pooled trust preferred collateralized debt obligations accounted for 24% of unrealized losses due to changes in interest rates and the illiquid market for this type of investment. Fixed income securities issued by U.S. Government-sponsored enterprises comprised 65% of total unrealized losses due to changes in market interest rates. Government agencies and obligations of state and political subdivisions each account for 10% of total unrealized losses as a result of changes in market interest rates. At December 31, 2017, there were 98 debt securities in an unrealized loss position, 30 of which related to residential mortgage-backed securities with an unrealized loss of 12 months or more. There were no equity securities in an unrealized loss position at December 31, 2017. The following table presents the gross unrealized losses and estimated fair value at December 31, 2016 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position:
| Less Than 12 Months |  | 12 Months or More |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 4,898 |  |  | $ | (11 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4,898 |  |  | $ | (11 | )
Mortgage-Backed Securities – Commercial | 33,883 |  |  | (561 | ) |  | — |  |  | — |  |  | 33,883 |  |  | (561 | )
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 670,708 |  |  | (11,630 | ) |  | 56,200 |  |  | (2,202 | ) |  | 726,908 |  |  | (13,832 | )
Mortgage-Backed Securities – Commercial | 14,534 |  |  | (142 | ) |  | — |  |  | — |  |  | 14,534 |  |  | (142 | )
Other Government-Sponsored Enterprises | 16,632 |  |  | (69 | ) |  | — |  |  | — |  |  | 16,632 |  |  | (69 | )
Obligations of States and Political Subdivisions | 33,277 |  |  | (762 | ) |  | — |  |  | — |  |  | 33,277 |  |  | (762 | )
Pooled Trust Preferred Collateralized Debt Obligations | — |  |  | — |  |  | 28,952 |  |  | (7,124 | ) |  | 28,952 |  |  | (7,124 | )
Total Securities | $ | 773,932 |  |  | $ | (13,175 | ) |  | $ | 85,152 |  |  | $ | (9,326 | ) |  | $ | 859,084 |  |  | $ | (22,501 | )
Pooled Trust Preferred Collateralized Debt Obligations | The following table provides additional information related to our pooled trust preferred collateralized debt obligations as of December 31, 2017:
Deal | Class |  | Book Value |  | Estimated Fair Value |  | Unrealized Gain (Loss) |  | Moody’s/ Fitch Ratings |  | Number of Banks |  | Deferrals and Defaults as a % of Current Collateral |  | Excess Subordination as a % of Current Performing Collateral
(dollars in thousands)
PreTSL IV | Mezzanine |  | $ | 1,817 |  |  | $ | 1,405 |  |  | $ | (412 | ) |  | Ba1/BB |  | 6 |  |  | 18.05 | % |  | 72.13 | %
PreTSL VIII | Mezzanine |  | 2,043 |  |  | 2,228 |  |  | 185 |  |  | C/C |  | 26 |  |  | 38.52 |  |  | 0.00 |
PreTSL IX | Mezzanine |  | 2,448 |  |  | 2,052 |  |  | (396 | ) |  | B1/C |  | 37 |  |  | 27.83 |  |  | 19.46 |
PreTSL X | Mezzanine |  | 1,863 |  |  | 2,125 |  |  | 262 |  |  | Caa1/C |  | 41 |  |  | 27.93 |  |  | 1.62 |
PreTSL XII | Mezzanine |  | 6,097 |  |  | 5,209 |  |  | (888 | ) |  | B3/C |  | 63 |  |  | 23.35 |  |  | 0.00 |
PreTSL XIV | Mezzanine |  | 13,136 |  |  | 10,453 |  |  | (2,683 | ) |  | Ba2/CCC |  | 49 |  |  | 12.95 |  |  | 39.26 |
MMCap I | Mezzanine |  | 95 |  |  | 174 |  |  | 79 |  |  | Ca/C |  | 7 |  |  | 69.35 |  |  | 69.99 |
Total |  |  | $ | 27,499 |  |  | $ | 23,646 |  |  | $ | (3,853 | ) |  |  |  |  |  |  |  |
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold | The table below provides a cumulative roll forward of credit losses recognized in earnings for debt securities held and not intended to be sold for the years ended December 31:
| 2017 |  | 2016 |  | 2015
| (dollars in thousands)
Balance, beginning (a) | $ | 17,056 |  |  | $ | 24,851 |  |  | $ | 26,246 |
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized | — |  |  | — |  |  | — |
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized | — |  |  | — |  |  | — |
Increases in cash flows expected to be collected, recognized over the remaining life of the security (b) | (890 | ) |  | (1,124 | ) |  | (1,177 | )
Reduction for debt securities called during the period | (3,958 | ) |  | (6,671 | ) |  | (218 | )
Balance, ending | $ | 12,208 |  |  | $ | 17,056 |  |  | $ | 24,851 |
(a) | The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods.
(b) | Represents the increase in cash flows recognized either as principal payments or interest income during the period.

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27340-111563 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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