XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Investment Securities | 6 Months Ended
--- | ---
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities Available-For-Sale The following table shows investment securities available-for-sale.
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and Federal agencies securities |  | $ | 396,740 |  |  | $ | 3,396 |  |  | $ | (5 | ) |  | $ | 400,131 |
U.S. States and political subdivisions securities |  | 125,917 |  |  | 3,364 |  |  | (63 | ) |  | 129,218 |
Mortgage-backed securities — Federal agencies |  | 239,829 |  |  | 4,982 |  |  | (272 | ) |  | 244,539 |
Corporate debt securities |  | 32,032 |  |  | 398 |  |  | — |  |  | 32,430 |
Foreign government and other securities |  | 800 |  |  | 10 |  |  | — |  |  | 810 |
Total debt securities |  | 795,318 |  |  | 12,150 |  |  | (340 | ) |  | 807,128 |
Marketable equity securities |  | 1,599 |  |  | 5,533 |  |  | (2 | ) |  | 7,130 |
Total investment securities available-for-sale |  | $ | 796,917 |  |  | $ | 17,683 |  |  | $ | (342 | ) |  | $ | 814,258 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and Federal agencies securities |  | $ | 389,457 |  |  | $ | 1,718 |  |  | $ | (1,506 | ) |  | $ | 389,669 |
U.S. States and political subdivisions securities |  | 120,441 |  |  | 2,692 |  |  | (143 | ) |  | 122,990 |
Mortgage-backed securities — Federal agencies |  | 234,400 |  |  | 3,430 |  |  | (1,533 | ) |  | 236,297 |
Corporate debt securities |  | 34,241 |  |  | 199 |  |  | (57 | ) |  | 34,383 |
Foreign government and other securities |  | 800 |  |  | 10 |  |  | (1 | ) |  | 809 |
Total debt securities |  | 779,339 |  |  | 8,049 |  |  | (3,240 | ) |  | 784,148 |
Marketable equity securities |  | 1,893 |  |  | 5,906 |  |  | (220 | ) |  | 7,579 |
Total investment securities available-for-sale |  | $ | 781,232 |  |  | $ | 13,955 |  |  | $ | (3,460 | ) |  | $ | 791,727 |
At June 30, 2016 and December 31, 2015, the residential mortgage-backed securities held by the Company consisted primarily of GNMA, FNMA and FHLMC pass-through certificates which are guaranteed by those respective agencies of the United States government (Government Sponsored Enterprise, GSEs). The following table shows the contractual maturities of investments in debt securities available-for-sale at June 30, 2016. Expected maturities will differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(Dollars in thousands) |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 214,503 |  |  | $ | 215,323 |
Due after one year through five years |  | 318,873 |  |  | 324,549 |
Due after five years through ten years |  | 22,113 |  |  | 22,717 |
Due after ten years |  | — |  |  | — |
Mortgage-backed securities |  | 239,829 |  |  | 244,539 |
Total debt securities available-for-sale |  | $ | 795,318 |  |  | $ | 807,128 |
The following table summarizes gross unrealized losses and fair value by investment category and age.
|  | Less than 12 Months |  | 12 months or Longer |  | Total
(Dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and Federal agencies securities |  | $ | 5,974 |  |  | $ | (5 | ) |  | $ | — |  |  | $ | — |  |  | $ | 5,974 |  |  | $ | (5 | )
U.S. States and political subdivisions securities |  | 7,237 |  |  | (22 | ) |  | 4,474 |  |  | (41 | ) |  | 11,711 |  |  | (63 | )
Mortgage-backed securities - Federal agencies |  | 23,770 |  |  | (78 | ) |  | 15,147 |  |  | (194 | ) |  | 38,917 |  |  | (272 | )
Corporate debt securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Foreign government and other securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total debt securities |  | 36,981 |  |  | (105 | ) |  | 19,621 |  |  | (235 | ) |  | 56,602 |  |  | (340 | )
Marketable equity securities |  | 1 |  |  | — |  |  | 3 |  |  | (2 | ) |  | 4 |  |  | (2 | )
Total investment securities available-for-sale |  | $ | 36,982 |  |  | $ | (105 | ) |  | $ | 19,624 |  |  | $ | (237 | ) |  | $ | 56,606 |  |  | $ | (342 | )
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and Federal agencies securities |  | $ | 151,581 |  |  | $ | (928 | ) |  | $ | 43,372 |  |  | $ | (578 | ) |  | $ | 194,953 |  |  | $ | (1,506 | )
U.S. States and political subdivisions securities |  | 17,040 |  |  | (79 | ) |  | 3,795 |  |  | (64 | ) |  | 20,835 |  |  | (143 | )
Mortgage-backed securities - Federal agencies |  | 78,731 |  |  | (777 | ) |  | 20,592 |  |  | (756 | ) |  | 99,323 |  |  | (1,533 | )
Corporate debt securities |  | 9,340 |  |  | (57 | ) |  | — |  |  | — |  |  | 9,340 |  |  | (57 | )
Foreign government and other securities |  | 99 |  |  | (1 | ) |  | — |  |  | — |  |  | 99 |  |  | (1 | )
Total debt securities |  | 256,791 |  |  | (1,842 | ) |  | 67,759 |  |  | (1,398 | ) |  | 324,550 |  |  | (3,240 | )
Marketable equity securities |  | 427 |  |  | (218 | ) |  | 3 |  |  | (2 | ) |  | 430 |  |  | (220 | )
Total investment securities available-for-sale |  | $ | 257,218 |  |  | $ | (2,060 | ) |  | $ | 67,762 |  |  | $ | (1,400 | ) |  | $ | 324,980 |  |  | $ | (3,460 | )
The initial indication of other-than-temporary-impairment (OTTI) for both debt and equity securities is a decline in fair value below amortized cost. Quarterly, the impaired securities are analyzed on a qualitative and quantitative basis in determining OTTI. Declines in the fair value of available-for-sale debt securities below their cost that are deemed to be other-than-temporary are reflected in earnings as realized losses to the extent the impairment is related to credit losses. The amount of impairment related to other factors is recognized in other comprehensive income. In estimating OTTI losses, the Company considers among other things, (i) the length of time and the extent to which fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) whether it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. At June 30, 2016, the Company does not have the intent to sell any of the available-for-sale securities in the table above and believes that it is more likely than not, that it will not have to sell any such securities before an anticipated recovery of cost. Primarily the unrealized losses on debt securities are due to increases in market rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover on all debt securities as they approach their maturity date or re-pricing date or if market yields for such investments decline. The Company does not believe any of the securities are impaired due to reasons of credit quality. The following table shows the gross realized gains and losses from the securities available-for-sale portfolio, including marketable equity securities. Realized gains and losses of all securities are computed using the specific identification cost basis.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in thousands) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Gross realized gains |  | $ | 85 |  |  | $ | 4 |  |  | $ | 95 |  |  | $ | 4 |
Gross realized losses |  | — |  |  | — |  |  | — |  |  | — |
OTTI losses |  | (294 | ) |  | — |  |  | (294 | ) |  | — |
Net realized (losses) gains |  | $ | (209 | ) |  | $ | 4 |  |  | $ | (199 | ) |  | $ | 4 |
At June 30, 2016 and December 31, 2015, investment securities available-for-sale with carrying values of $249.00 million and $233.14 million, respectively, were pledged as collateral for security repurchase agreements and for other purposes.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: 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=73527792&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration