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Securities (Tables) | 9 Months Ended
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Sep. 30, 2016
Investments Debt And Equity Securities [Abstract] |
Schedule of Amortized Cost of Securities and Their Approximate Fair Values | Securities have been classified in the financial statements as available for sale or held to maturity. The amortized cost of securities and their approximate fair values at September 30, 2016 and December 31, 2015 are as follows:
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
(Dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
September 30, 2016 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | 189,313 |  |  | $ | 1,374 |  |  | $ | (117 | ) |  | $ | 190,570 |
Mortgage-backed securities, residential |  |  | 25,834 |  |  |  | 596 |  |  |  | (17 | ) |  |  | 26,413 |
Asset backed securities |  |  | 13,111 |  |  |  | 33 |  |  |  | (181 | ) |  |  | 12,963 |
State and municipal |  |  | 28,933 |  |  |  | 40 |  |  |  | (109 | ) |  |  | 28,864 |
Corporate bonds |  |  | 27,323 |  |  |  | 277 |  |  |  | — |  |  |  | 27,600 |
SBA pooled securities |  |  | 162 |  |  |  | 2 |  |  |  | — |  |  |  | 164 |
Total available for sale securities |  | $ | 284,676 |  |  | $ | 2,322 |  |  | $ | (424 | ) |  | $ | 286,574 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrecognized |  |  | Unrecognized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Held to maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO securities |  | $ | 29,316 |  |  | $ | 1,595 |  |  | $ | (62 | ) |  | $ | 30,849 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
(Dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
December 31, 2015 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | 90,533 |  |  | $ | 518 |  |  | $ | (17 | ) |  | $ | 91,034 |
Mortgage-backed securities, residential |  |  | 28,006 |  |  |  | 361 |  |  |  | (27 | ) |  |  | 28,340 |
Asset backed securities |  |  | 17,957 |  |  |  | 24 |  |  |  | (455 | ) |  |  | 17,526 |
State and municipal |  |  | 1,509 |  |  |  | 17 |  |  |  | — |  |  |  | 1,526 |
Corporate bonds |  |  | 24,542 |  |  |  | 74 |  |  |  | (57 | ) |  |  | 24,559 |
SBA pooled securities |  |  | 183 |  |  |  | 1 |  |  |  | — |  |  |  | 184 |
Total available for sale securities |  | $ | 162,730 |  |  | $ | 995 |  |  | $ | (556 | ) |  | $ | 163,169 |
Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity | The amortized cost and estimated fair value of securities at September 30, 2016, by contractual maturity, are shown below. 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.
|  | Available for Sale Securities |  |  | Held to Maturity Securities |
|  | Amortized |  |  | Fair |  |  | Amortized |  |  | Fair |
(Dollars in thousands) |  | Cost |  |  | Value |  |  | Cost |  |  | Value |
Due in one year or less |  | $ | 83,649 |  |  | $ | 83,724 |  |  | $ | — |  |  | $ | — |
Due from one year to five years |  |  | 135,401 |  |  |  | 136,797 |  |  |  | — |  |  |  | — |
Due from five years to ten years |  |  | 5,443 |  |  |  | 5,449 |  |  |  | 8,454 |  |  |  | 9,011 |
Due after ten years |  |  | 21,076 |  |  |  | 21,064 |  |  |  | 20,862 |  |  |  | 21,838 |
|  |  | 245,569 |  |  |  | 247,034 |  |  |  | 29,316 |  |  |  | 30,849 |
Mortgage-backed securities, residential |  |  | 25,834 |  |  |  | 26,413 |  |  |  | — |  |  |  | — |
Asset backed securities |  |  | 13,111 |  |  |  | 12,963 |  |  |  | — |  |  |  | — |
SBA pooled securities |  |  | 162 |  |  |  | 164 |  |  |  | — |  |  |  | — |
|  | $ | 284,676 |  |  | $ | 286,574 |  |  | $ | 29,316 |  |  | $ | 30,849 |
Schedule of Information Pertaining to Securities with Gross Unrealized Losses | Information pertaining to securities with gross unrealized losses at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are summarized as follows:
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
(Dollars in thousands) |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
September 30, 2016 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | 81,449 |  |  | $ | (117 | ) |  | $ | — |  |  | $ | — |  |  | $ | 81,449 |  |  | $ | (117 | )
Mortgage-backed securities, residential |  |  | 2,169 |  |  |  | (17 | ) |  |  | — |  |  |  | — |  |  |  | 2,169 |  |  |  | (17 | )
Asset backed securities |  |  | — |  |  |  | — |  |  |  | 8,019 |  |  |  | (181 | ) |  |  | 8,019 |  |  |  | (181 | )
State and municipal |  |  | 23,506 |  |  |  | (109 | ) |  |  | — |  |  |  | — |  |  |  | 23,506 |  |  |  | (109 | )
Corporate bonds |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SBA pooled securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 107,124 |  |  | $ | (243 | ) |  | $ | 8,019 |  |  | $ | (181 | ) |  | $ | 115,143 |  |  | $ | (424 | )
Held to maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO securities |  | $ | 1,634 |  |  | $ | (62 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,634 |  |  | $ | (62 | )
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
(Dollars in thousands) |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
December 31, 2015 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Government agency obligations |  | $ | 10,029 |  |  | $ | (17 | ) |  | $ | — |  |  | $ | — |  |  | $ | 10,029 |  |  | $ | (17 | )
Mortgage-backed securities, residential |  |  | 4,948 |  |  |  | (27 | ) |  |  | — |  |  |  | — |  |  |  | 4,948 |  |  |  | (27 | )
Asset backed securities |  |  | 8,031 |  |  |  | (416 | ) |  |  | 4,605 |  |  |  | (39 | ) |  |  | 12,636 |  |  |  | (455 | )
State and municipal |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Corporate bonds |  |  | 10,434 |  |  |  | (57 | ) |  |  | — |  |  |  | — |  |  |  | 10,434 |  |  |  | (57 | )
SBA pooled securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 33,442 |  |  | $ | (517 | ) |  | $ | 4,605 |  |  | $ | (39 | ) |  | $ | 38,047 |  |  | $ | (556 | )

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