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Securities Available-for-Sale (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Composition of Securities Available-for-Sale
The following table presents the amortized cost and fair value of available-for-sale securities as of the dates presented:
 
June 30, 2017
 
December 31, 2016
(dollars in thousands)
Amortized
Cost

 
Gross
Unrealized
Gains

 
Gross
Unrealized
Losses

 
Fair
Value

 
Amortized
Cost

 
Gross
Unrealized
Gains

 
Gross
Unrealized
Losses

 
Fair
Value

U.S. treasury securities
$
24,917

 
$
2

 
$
(33
)
 
$
24,886

 
$
24,891

 
$
47

 
$
(127
)
 
$
24,811

Obligations of U.S. government corporations and agencies
210,459

 
1,328

 
(353
)
 
211,434

 
230,989

 
1,573

 
(383
)
 
232,179

Collateralized mortgage obligations of U.S. government corporations and agencies
120,272

 
527

 
(596
)
 
120,203

 
130,046

 
465

 
(734
)
 
129,777

Residential mortgage-backed securities of U.S. government corporations and agencies
33,850

 
948

 
(187
)
 
34,611

 
36,606

 
984

 
(232
)
 
37,358

Commercial mortgage-backed securities of U.S. government corporations and agencies
162,981

 
646

 
(1,214
)
 
162,413

 
127,311

 
243

 
(1,950
)
 
125,604

Obligations of states and political subdivisions
125,464

 
5,642

 
—

 
131,106

 
128,783

 
3,772

 
(46
)
 
132,509

Debt Securities
677,943

 
9,093

 
(2,383
)
 
684,653

 
678,626

 
7,084

 
(3,472
)
 
682,238

Marketable equity securities
3,815

 
921

 
(1
)
 
4,735

 
7,579

 
3,670

 
—

 
11,249

Total
$
681,758

 
$
10,014

 
$
(2,384
)
 
$
689,388

 
$
686,205

 
$
10,754

 
$
(3,472
)
 
$
693,487
Fair Value and Age of Gross Unrealized Losses by Investment Category
The following tables present the fair value and the age of gross unrealized losses by investment category as of the dates presented:
 
June 30, 2017
 
Less Than 12 Months
 
12 Months or More
 
Total
(dollars in thousands)
Number of Securities
 
Fair Value

 
Unrealized
Losses

 
Number of Securities
 
Fair Value

 
Unrealized
Losses

 
Number of Securities
 
Fair Value

 
Unrealized
Losses

U.S. Treasury securities
3
 
$
19,881

 
$
(33
)
 
—
 
$
—

 
$
—

 
3
 
$
19,881

 
$
(33
)
Obligations of U.S. government corporations and agencies
8
 
72,242

 
(353
)
 
—
 
—

 
—

 
8
 
72,242

 
(353
)
Collateralized mortgage obligations of U.S. government corporations and agencies
8
 
65,731

 
(596
)
 
—
 
—

 
—

 
8
 
65,731

 
(596
)
Residential mortgage-backed securities of U.S. government corporations and agencies
2
 
9,374

 
(187
)
 
—
 
—

 
—

 
2
 
9,374

 
(187
)
Commercial mortgage-backed securities of U.S. government corporations and agencies
7
 
67,084

 
(1,214
)
 
—
 
—

 
—

 
7
 
67,084

 
(1,214
)
Obligations of states and political subdivisions
—
 
—

 
—

 
—
 
—

 
—

 
—
 
—

 
—

Debt Securities
28
 
234,312

 
(2,383
)
 
—
 
—

 
—

 
28
 
234,312

 
(2,383
)
Marketable equity securities
1
 
70

 
(1
)
 
—
 
—

 
—

 
1
 
70

 
(1
)
Total Temporarily Impaired Securities
29
 
$
234,382

 
$
(2,384
)
 
—
 
$
—

 
$
—

 
29
 
$
234,382

 
$
(2,384
)


 
December 31, 2016
 
Less Than 12 Months
 
12 Months or More
 
Total
(dollars in thousands)
Number of Securities
 
Fair Value

 
Unrealized
Losses

 
Number of Securities
 
Fair Value

 
Unrealized
Losses

 
Number of Securities
 
Fair Value

 
Unrealized
Losses

U.S. Treasury securities
1
 
$
9,811

 
$
(127
)
 
—
 
$
—

 
$
—

 
1
 
$
9,811

 
$
(127
)
Obligations of U.S. government corporations and agencies
7
 
62,483

 
(383
)
 
—
 
—

 
—

 
7
 
62,483

 
(383
)
Collateralized mortgage obligations of U.S. government corporations and agencies
10
 
83,031

 
(734
)
 
—
 
—

 
—

 
10
 
83,031

 
(734
)
Residential mortgage-backed securities of U.S. government corporations and agencies
2
 
10,022

 
(232
)
 
—
 
—

 
—

 
2
 
10,022

 
(232
)
Commercial mortgage-backed securities of U.S. government corporations and agencies
10
 
96,576

 
(1,950
)
 
—
 
—

 
—

 
10
 
96,576

 
(1,950
)
Obligations of states and political subdivisions
1
 
5,577

 
(46
)
 
—
 
—

 
—

 
1
 
5,577

 
(46
)
Debt Securities
31
 
267,500

 
(3,472
)
 
—
 
—

 
—

 
31
 
267,500

 
(3,472
)
Marketable equity securities
—
 
—

 
—

 
—
 
—

 
—

 
—
 
—

 
—

Total Temporarily Impaired Securities
31
 
$
267,500

 
$
(3,472
)
 
—
 
$
—

 
$
—

 
31
 
$
267,500

 
$
(3,472
)
Unrealized Gains and Losses, Net of Tax on Securities Available for Sale
The following table displays net unrealized gains and losses, net of tax, on securities available for sale included in accumulated other comprehensive (loss)/income, for the periods presented:
 
June 30, 2017
 
December 31, 2016
(dollars in thousands)
Gross Unrealized Gains

 
Gross Unrealized Losses

 
Net Unrealized Gains/ (Losses)

 
Gross Unrealized Gains

 
Gross Unrealized Losses

 
Net Unrealized Gains/ (Losses)

Total unrealized gains/(losses) on securities available-for-sale
$
10,014

 
$
(2,384
)
 
$
7,630

 
$
10,754

 
$
(3,472
)
 
$
7,282

Income tax expense/(benefit)
(3,517
)
 
837

 
(2,680
)
 
(3,776
)
 
1,219

 
(2,557
)
Net unrealized gains/(losses), net of tax included in accumulated other comprehensive income/(loss)
$
6,497

 
$
(1,547
)
 
$
4,950

 
$
6,978

 
$
(2,253
)
 
$
4,725
Amortized Cost and Fair Value of Available-for-Sale Securities
The amortized cost and fair value of securities available-for-sale at June 30, 2017 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
June 30, 2017
(dollars in thousands)
Amortized
Cost

 
Fair Value

Obligations of the U.S. Treasury, U.S. government corporations and agencies, and obligations of states and political subdivisions

 

Due in one year or less
$
61,661

 
$
61,805

Due after one year through five years
180,806

 
182,760

Due after five years through ten years
58,782

 
60,214

Due after ten years
59,591

 
62,647

 
360,840

 
367,426

Collateralized mortgage obligations of U.S. government corporations and agencies
120,272

 
120,203

Residential mortgage-backed securities of U.S. government corporations and agencies
33,850

 
34,611

Commercial mortgage-backed securities of U.S. government corporations and agencies
162,981

 
162,413

Debt Securities
677,943

 
684,653

Marketable equity securities
3,815

 
4,735

Total
$
681,758

 
$
689,388