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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments [Table Text Block]

The following tables present information related to the Company’s investment securities at March 31, 2015 and December 31, 2014.

		March 31, 2015
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		March 31, 2015
		(in thousands)
Investment securities available-for-sale:
Federal agency obligations		$	30,774			$	463			$	(4	)		$	31,233
Residential mortgage pass-through securities			57,300				1,737				(9	)			59,028
Commercial mortgage pass-through securities			3,027				55				—				3,082
Obligations of U.S. states and political subdivisions			8,197				238				—				8,435
Trust preferred securities			16,086				648				(278	)			16,456
Corporate bonds and notes			110,671				6,190				(22	)			116,839
Asset-backed securities			26,045				127				(80	)			26,092
Certificates of deposit			2,097				31				(5	)			2,123
Equity securities			376				—				(56	)			320
Other securities			12,474				89				(50	)			12,513
Total		$	267,047			$	9,578			$	(504	)		$	276,121
Investment securities held-to-maturity:
U.S. Treasury and agency securities		$	28,315			$	1,507			$	—			$	29,822
Federal agency obligations			35,393				586				(30	)			35,949
Residential mortgage-backed securities			5,542				26				(13	)			5,555
Commercial mortgage-backed securities			4,124				86				—				4,210
Obligations of U.S. states and political subdivisions			119,384				4,966				(46	)			124,304
Corporate bonds and notes			38,962				1,472				(11	)			40,423
Total		$	231,720			$	8,643			$	(100	)		$	240,263
Total investment securities		$	498,767			$	18,221			$	(604	)		$	516,384

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		December 31, 2014
		(in thousands)
Investment securities available-for-sale:
Federal agency obligations		$	32,650			$	217			$	(50	)		$	32,817
Residential mortgage pass-through securities			58,836				1,531				(11	)			60,356
Commercial mortgage pass-through securities			3,042				4				—				3,046
Obligations of U.S. states and political subdivisions			8,201				205				—				8,406
Trust preferred securities			16,086				489				(269	)			16,306
Corporate bonds and notes			119,838				5,950				(11	)			125,777
Asset-backed securities			27,393				140				(31	)			27,502
Certificates of deposit			2,098				27				(2	)			2,123
Equity securities			376				—				(69	)			307
Other securities			12,941				33				(82	)			12,892
Total		$	281,461			$	8,596			$	(525	)		$	289,532
Investment securities held-to-maturity:
U.S. Treasury and agency securities		$	28,264			$	920			$	—			$	29,184
Federal agency obligations			27,103				322				(28	)			27,397
Residential mortgage-backed securities			5,955				28				—				5,983
Commercial mortgage-backed securities			4,266				50				—				4,316
Obligations of U.S. states and political subdivisions			120,144				4,512				(60	)			124,596
Corporate bonds and notes			38,950				1,026				(7	)			39,969
Total		$	224,682			$	6,858			$	(95	)		$	231,445
Total investment securities		$	506,143			$	15,454			$	(620	)		$	520,977

Investments Classified by Contractual Maturity Date [Table Text Block]

The following table presents information for investment securities available-for-sale at March 31, 2015, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer.

		March 31, 2015
		Amortized Cost				Fair Value
		(in thousands)
Investment securities available-for-sale:
Due in one year or less		$	23,891			$	24,248
Due after one year through five years			32,274				33,611
Due after five years through ten years			83,910				88,819
Due after ten years			53,795				54,500
Residential mortgage pass-through securities			57,300				59,028
Commercial mortgage pass-through securities			3,027				3,082
Equity securities			376				320
Other securities			12,474				12,513
Total		$	267,047			$	276,121
Investment securities held-to-maturity:
Due in one year or less		$	4,991			$	5,020
Due after one year through five years			9,207				9,401
Due after five years through ten years			71,916				75,354
Due after ten years			135,940				140,723
Residential mortgage-backed securities			5,542				5,555
Commercial mortgage-backed securities			4,124				4,210
Total		$	231,720			$	240,263
Total investment securities		$	498,767			$	516,384

Schedule of Realized Gain (Loss) [Table Text Block]

Gross gains and losses from the sales, calls, and maturities of investment securities for the three months ended March 31, 2015 and 2014 were as follows:

		Three Months Ended March 31,
(in thousands)		2015				2014
Proceeds		$	9,537			$	50,611
Gross gains on sales of investment securities			506				1,432
Gross losses on sales of investment securities			—				(17	)
Net gains on sales of investment securities			506				1,415
Less: tax provision on net gains			207				380
Total		$	299			$	1,035

Schedule of Preferred Security and Associated Ratings [Table Text Block]

The following table presents detailed information for each single issuer trust preferred security held by the Company at March 31, 2015, of which all but one has at least one rating below investment grade (in thousands):

Issuer		Amortized Cost				Fair Value				Gross Unrealized Gain (Loss)				Lowest Credit Rating Assigned
Countrywide Capital IV		$	1,771			$	1,819			$	48			BB
Countrywide Capital V			2,747				2,848				101			BB
Countrywide Capital V			250				259				9			BB
Nationsbank Cap Trust III			1,575				1,297				(278	)		BB
Morgan Stanley Cap Trust IV			2,500				2,567				67			BB
Morgan Stanley Cap Trust IV			1,743				1,795				52			BB
Goldman Sachs			1,000				1,252				252			BB
Stifel Financial			4,500				4,619				119			BBB-
Total		$	16,086			$	16,456			$	370

Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at March 31, 2015 and December 31, 2014:

		March 31, 2015
		Total								Less than 12 Months								12 Months or Longer
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(in thousands)
Investment securities available-for-sale:
Federal agency obligation		$	1,656			$	(4	)		$	1,357			$	(1	)		$	299			$	(3	)
Residential mortgage pass-through securities			1,026				(9	)			1,026				(9	)			—				—
Trust preferred securities			1,297				(278	)			—				—				1,297				(278	)
Corporate bonds and notes			3,935				(22	)			3,935				(22	)			—				—
Asset-backed securities			9,698				(80	)			9,698				(80	)			—				—
Certificates of deposit			217				(5	)			217				(5	)			—				—
Equity securities			320				(56	)			—				—				320				(56	)
Other securities			5,477				(50	)			—				—				5,477				(50	)
Total		$	23,626			$	(504	)		$	16,233			$	(117	)		$	7,393			$	(387	)
Investment securities held-to-maturity:
Federal agency obligation		$	6,422			$	(30	)		$	6,422			$	(30	)		$	—			$	—
Residential mortgage pass-through securities			3,660				(13	)			3,660				(13	)			—				—
Obligations of U.S. states and political subdivisions			7,336				(46	)			7,336				(46	)			—				—
Corporate bonds and notes			3,720				(11	)			3,720				(11	)			—				—
Total		$	21,138			$	(100	)		$	21,138			$	(100	)		$	—			$	—
Total temporarily impaired securities		$	44,764			$	(604	)		$	37,371			$	(217	)		$	7,393			$	(387	)

		December 31, 2014
		Total								Less than 12 Months								12 Months or Longer
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(in thousands)
Investment securities available-for-sale:
Federal agency obligation		$	6,755			$	(50	)		$	2,770			$	(9	)		$	3,985			$	(41	)
Residential mortgage pass-through securities			5,694				(11	)			5,694				(11	)			—				—
Trust preferred securities			1,307				(269	)			—				—				1,307				(269	)
Corporate bonds and notes			1,961				(11	)			1,961				(11	)			—				—
Asset-backed securities			9,773				(31	)			9,773				(31	)			—				—
Certificates of deposit			369				(2	)			369				(2	)			—				—
Equity securities			307				(69	)			—				—				307				(69	)
Other securities			5,417				(82	)			1,978				(21	)			3,439				(61	)
Total		$	31,583			$	(525	)		$	22,545			$	(85	)		$	9,038			$	(440	)
Investment securities held-to-maturity:
Federal agency obligation		$	3,228			$	(28	)		$	3,228			$	(28	)		$	—			$	—
Obligations of U.S. states and political subdivisions			8,341				(60	)			1,401				(3	)			6,940				(57	)
Corporate bonds and notes			993				(7	)			993				(7	)			—				—
Total		$	12,562			$	(95	)		$	5,622			$	(38	)		$	6,940			$	(57	)
Total temporarily impaired securities		$	44,145			$	(620	)		$	28,167			$	(123	)		$	15,978			$	(497	)

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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.

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