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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]  
Held-to-maturity Securities
Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:.
 
2017
 
2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
3,925

 
$
—

 
$
(14
)
 
$
3,911

 
$
4,297

 
$
—

 
$
(4
)
 
$
4,293

Mortgage-Backed Securities – Commercial
58,249

 
—

 
(1,394
)
 
56,855

 
34,444

 
—

 
(561
)
 
33,883

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
305,126

 
10

 
(2,552
)
 
302,584

 
280,430

 
5

 
(2,527
)
 
277,908

Mortgage-Backed Securities – Commercial
14,056

 
—

 
(71
)
 
13,985

 
14,675

 
—

 
(142
)
 
14,533

Obligations of States and Political Subdivisions
40,540

 
335

 
(161
)
 
40,714

 
38,667

 
55

 
(721
)
 
38,001

Debt Securities Issued by Foreign Governments
200

 
—

 
—

 
200

 
—

 
—

 
—

 
—

Total Securities Held to Maturity
$
422,096

 
$
345

 
$
(4,192
)
 
$
418,249

 
$
372,513

 
$
60

 
$
(3,955
)
 
$
368,618
Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale
Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:
 
2017
 
2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
10,556

 
$
789

 
$
(7
)
 
$
11,338

 
$
15,143

 
$
1,481

 
$
(7
)
 
$
16,617

Mortgage-Backed Securities – Commercial
24,611

 
—

 
(462
)
 
24,149

 
—

 
—

 
—

 
—

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
632,422

 
2,622

 
(9,489
)
 
625,555

 
683,601

 
4,557

 
(11,305
)
 
676,853

Mortgage-Backed Securities – Commercial
—

 
—

 
—

 
—

 
1

 
—

 
—

 
1

Other Government-Sponsored Enterprises
1,098

 
—

 
(1
)
 
1,097

 
16,700

 
—

 
(69
)
 
16,631

Obligations of States and Political Subdivisions
27,083

 
327

 
—

 
27,410

 
27,075

 
195

 
(41
)
 
27,229

Corporate Securities
15,907

 
590

 
(4
)
 
16,493

 
5,903

 
416

 
—

 
6,319

Pooled Trust Preferred Collateralized Debt Obligations
27,499

 
526

 
(4,379
)
 
23,646

 
39,989

 
427

 
(7,124
)
 
33,292

Total Debt Securities
739,176

 
4,854

 
(14,342
)
 
729,688

 
788,412

 
7,076

 
(18,546
)
 
776,942

Equities
1,670

 
—

 
—

 
1,670

 
1,670

 
—

 
—

 
1,670

Total Securities Available for Sale
$
740,846

 
$
4,854

 
$
(14,342
)
 
$
731,358

 
$
790,082

 
$
7,076

 
$
(18,546
)
 
$
778,612

The amortized cost and estimated fair value of debt securities available for sale at December 31, 2017, by contractual maturity, are shown below:
 
Amortized
Cost
 
Estimated
Fair Value
 
(dollars in thousands)
Due within 1 year
$
1,098

 
$
1,097

Due after 1 but within 5 years
13,989

 
14,020

Due after 5 but within 10 years
27,083

 
27,410

Due after 10 years
29,417

 
26,119

 
71,587

 
68,646

Mortgage-Backed Securities (a)
667,589

 
661,042

Total Debt Securities
$
739,176

 
$
729,688

 
(a)
Mortgage Backed Securities include an amortized cost of $35.2 million and a fair value of $35.5 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.4 million and a fair value of $625.6 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale
(a)
Mortgage Backed Securities include an amortized cost of $35.2 million and a fair value of $35.5 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.4 million and a fair value of $625.6 million
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2017, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
 
Amortized
Cost
 
Estimated
Fair Value
 
(dollars in thousands)
Due within 1 year
$
87

 
$
87

Due after 1 but within 5 years
3,663

 
3,660

Due after 5 but within 10 years
35,361

 
35,534

Due after 10 years
1,629

 
1,633

 
40,740

 
40,914

Mortgage-Backed Securities (a)
381,356

 
377,335

Total Debt Securities
$
422,096

 
$
418,249

(a)
Mortgage Backed Securities include an amortized cost of $62.2 million and a fair value of $60.8 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $319.2 million and a fair value of $316.6 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.