XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 are as follows:
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
(Dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
June 30, 2017 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | 133,704 |  |  | $ | 564 |  |  | $ | (463 | ) |  | $ | 133,805 |
U.S. Treasury notes |  |  | 4,830 |  |  |  | 43 |  |  |  | — |  |  |  | 4,873 |
Mortgage-backed securities, residential |  |  | 22,233 |  |  |  | 389 |  |  |  | (115 | ) |  |  | 22,507 |
Asset backed securities |  |  | 12,889 |  |  |  | 21 |  |  |  | (111 | ) |  |  | 12,799 |
State and municipal |  |  | 25,361 |  |  |  | 23 |  |  |  | (233 | ) |  |  | 25,151 |
Corporate bonds |  |  | 25,793 |  |  |  | 114 |  |  |  | (3 | ) |  |  | 25,904 |
SBA pooled securities |  |  | 144 |  |  |  | — |  |  |  | — |  |  |  | 144 |
Mutual fund |  |  | 2,000 |  |  |  | 23 |  |  |  | — |  |  |  | 2,023 |
Total available for sale securities |  | $ | 226,954 |  |  | $ | 1,177 |  |  | $ | (925 | ) |  | $ | 227,206 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrecognized |  |  | Unrecognized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Held to maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO securities |  | $ | 26,036 |  |  | $ | 948 |  |  | $ | (618 | ) |  | $ | 26,366 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
(Dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
December 31, 2016 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | 180,945 |  |  | $ | 640 |  |  | $ | (643 | ) |  | $ | 180,942 |
Mortgage-backed securities, residential |  |  | 24,710 |  |  |  | 453 |  |  |  | (173 | ) |  |  | 24,990 |
Asset backed securities |  |  | 13,031 |  |  |  | 30 |  |  |  | (159 | ) |  |  | 12,902 |
State and municipal |  |  | 27,339 |  |  |  | 6 |  |  |  | (708 | ) |  |  | 26,637 |
Corporate bonds |  |  | 27,287 |  |  |  | 106 |  |  |  | (3 | ) |  |  | 27,390 |
SBA pooled securities |  |  | 156 |  |  |  | 1 |  |  |  | — |  |  |  | 157 |
Mutual fund |  |  | 2,000 |  |  |  | 11 |  |  |  | — |  |  |  | 2,011 |
Total available for sale securities |  | $ | 275,468 |  |  | $ | 1,247 |  |  | $ | (1,686 | ) |  | $ | 275,029 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrecognized |  |  | Unrecognized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Held to maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO securities |  | $ | 29,352 |  |  | $ | 1,527 |  |  | $ | (58 | ) |  | $ | 30,821 |
Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity | The amortized cost and estimated fair value of securities at June 30, 2017, 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 |  | $ | 56,482 |  |  | $ | 56,454 |  |  | $ | — |  |  | $ | — |
Due from one year to five years |  |  | 111,026 |  |  |  | 111,240 |  |  |  | — |  |  |  | — |
Due from five years to ten years |  |  | 6,859 |  |  |  | 6,790 |  |  |  | 12,875 |  |  |  | 13,513 |
Due after ten years |  |  | 15,321 |  |  |  | 15,249 |  |  |  | 13,161 |  |  |  | 12,853 |
|  |  | 189,688 |  |  |  | 189,733 |  |  |  | 26,036 |  |  |  | 26,366 |
Mortgage-backed securities, residential |  |  | 22,233 |  |  |  | 22,507 |  |  |  | — |  |  |  | — |
Asset backed securities |  |  | 12,889 |  |  |  | 12,799 |  |  |  | — |  |  |  | — |
SBA pooled securities |  |  | 144 |  |  |  | 144 |  |  |  | — |  |  |  | — |
Mutual fund |  |  | 2,000 |  |  |  | 2,023 |  |  |  | — |  |  |  | — |
|  | $ | 226,954 |  |  | $ | 227,206 |  |  | $ | 26,036 |  |  | $ | 26,366 |
Schedule of Proceeds from Sales of Securities and the Associated Gross Gains and Losses | Proceeds from sales of securities and the associated gross gains and losses for the three and six months ended June 30, 2017 and 2016 are as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(Dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Proceeds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,345 |
Gross gains |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |
Gross losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Schedule of Information Pertaining to Securities with Gross Unrealized and Unrecognized Losses | Information pertaining to securities with gross unrealized and unrecognized losses at June 30, 2017 and December 31, 2016, 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 |
June 30, 2017 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | 58,439 |  |  | $ | (463 | ) |  | $ | — |  |  | $ | — |  |  | $ | 58,439 |  |  | $ | (463 | )
U.S. Treasury notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-backed securities, residential |  |  | 6,472 |  |  |  | (115 | ) |  |  | — |  |  |  | — |  |  |  | 6,472 |  |  |  | (115 | )
Asset backed securities |  |  | 4,882 |  |  |  | (75 | ) |  |  | 4,922 |  |  |  | (36 | ) |  |  | 9,804 |  |  |  | (111 | )
State and municipal |  |  | 22,700 |  |  |  | (233 | ) |  |  | — |  |  |  | — |  |  |  | 22,700 |  |  |  | (233 | )
Corporate bonds |  |  | 372 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 372 |  |  |  | (3 | )
SBA pooled securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual fund |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 92,865 |  |  | $ | (889 | ) |  | $ | 4,922 |  |  | $ | (36 | ) |  | $ | 97,787 |  |  | $ | (925 | )
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
(Dollars in thousands) |  | Fair |  |  | Unrecognized |  |  | Fair |  |  | Unrecognized |  |  | Fair |  |  | Unrecognized |
June 30, 2017 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Held to maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO securities |  | $ | 7,846 |  |  | $ | (618 | ) |  | $ | — |  |  | $ | — |  |  | $ | 7,846 |  |  | $ | (618 | )
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
(Dollars in thousands) |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
December 31, 2016 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Government agency obligations |  | $ | 95,362 |  |  | $ | (643 | ) |  | $ | — |  |  | $ | — |  |  | $ | 95,362 |  |  | $ | (643 | )
Mortgage-backed securities, residential |  |  | 6,594 |  |  |  | (173 | ) |  |  | — |  |  |  | — |  |  |  | 6,594 |  |  |  | (173 | )
Asset backed securities |  |  | — |  |  |  | — |  |  |  | 7,946 |  |  |  | (159 | ) |  |  | 7,946 |  |  |  | (159 | )
State and municipal |  |  | 25,771 |  |  |  | (708 | ) |  |  | — |  |  |  | — |  |  |  | 25,771 |  |  |  | (708 | )
Corporate bonds |  |  | 372 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 372 |  |  |  | (3 | )
SBA pooled securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mutual fund |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 128,099 |  |  | $ | (1,527 | ) |  | $ | 7,946 |  |  | $ | (159 | ) |  | $ | 136,045 |  |  | $ | (1,686 | )
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
(Dollars in thousands) |  | Fair |  |  | Unrecognized |  |  | Fair |  |  | Unrecognized |  |  | Fair |  |  | Unrecognized |
December 31, 2016 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Held to maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CLO securities |  | $ | 3,323 |  |  | $ | (58 | ) |  | $ | — |  |  | $ | — |  |  | $ | 3,323 |  |  | $ | (58 | )

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26626-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26610-111562 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration