XML 44 R28.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Investment Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2014
Investments Debt And Equity Securities [Abstract] |
Summary of Investment Securities Available for Sale | The following is a summary of investment securities available for sale as of June 30, 2014 and December 31, 2013:
|  | Amortized Cost |  |  | Gross Unrealized Gain |  |  | Gross Unrealized Loss |  |  | Estimated Fair Value |
|  | (In thousands) |
June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities (1) |  | $ | 215,542 |  |  | $ | 1,103 |  |  | $ | 2,010 |  |  | $ | 214,635 |
Collateralized mortgage obligations (1) |  |  | 160,422 |  |  |  | 240 |  |  |  | 1,037 |  |  |  | 159,625 |
U.S. government agency securities |  |  | 80,960 |  |  |  | — |  |  |  | 3,096 |  |  |  | 77,864 |
Municipal bonds-tax exempt |  |  | 4,350 |  |  |  | 97 |  |  |  | — |  |  |  | 4,447 |
Municipal bonds-taxable |  |  | 16,718 |  |  |  | 158 |  |  |  | 145 |  |  |  | 16,731 |
Corporate bonds |  |  | 17,017 |  |  |  | 11 |  |  |  | 103 |  |  |  | 16,925 |
SBA loan pool securities |  |  | 13,222 |  |  |  | — |  |  |  | 661 |  |  |  | 12,561 |
Other securities |  |  | 3,030 |  |  |  | — |  |  |  | 91 |  |  |  | 2,939 |
Equity security |  |  | 250 |  |  |  | — |  |  |  | — |  |  |  | 250 |
Total securities available for sale |  | $ | 511,511 |  |  | $ | 1,609 |  |  | $ | 7,143 |  |  | $ | 505,977 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities (1) |  | $ | 222,768 |  |  | $ | 317 |  |  | $ | 6,026 |  |  | $ | 217,059 |
Collateralized mortgage obligations (1) |  |  | 130,636 |  |  |  | 274 |  |  |  | 3,217 |  |  |  | 127,693 |
U.S. government agency securities |  |  | 90,852 |  |  |  | — |  |  |  | 7,316 |  |  |  | 83,536 |
Municipal bonds-tax exempt |  |  | 13,857 |  |  |  | 110 |  |  |  | 30 |  |  |  | 13,937 |
Municipal bonds-taxable |  |  | 33,361 |  |  |  | 73 |  |  |  | 1,080 |  |  |  | 32,354 |
Corporate bonds |  |  | 21,013 |  |  |  | 8 |  |  |  | 186 |  |  |  | 20,835 |
U.S. treasury bills |  |  | 19,998 |  |  |  | — |  |  |  | 1 |  |  |  | 19,997 |
SBA loan pool securities |  |  | 13,598 |  |  |  | — |  |  |  | 969 |  |  |  | 12,629 |
Other securities |  |  | 3,030 |  |  |  | — |  |  |  | 144 |  |  |  | 2,886 |
Total securities available for sale |  | $ | 549,113 |  |  | $ | 782 |  |  | $ | 18,969 |  |  | $ | 530,926 |
(1) | Collateralized by residential mortgages and guaranteed by U.S. government sponsored entities
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity | The amortized cost and estimated fair value of investment securities as of June 30, 2014, by contractual maturity, are shown below. Although mortgage-backed securities and collateralized mortgage obligations have contractual maturities through 2063, expected maturities may 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 |
|  | Amortized |  |  | Estimated |
|  | Cost |  |  | Fair Value |
|  | (In thousands) |
Within one year |  | $ | 699 |  |  | $ | 728 |
Over one year through five years |  |  | 27,879 |  |  |  | 27,642 |
Over five years through ten years |  |  | 74,439 |  |  |  | 72,430 |
Over ten years |  |  | 32,280 |  |  |  | 30,667 |
Mortgage-backed securities |  |  | 215,542 |  |  |  | 214,635 |
Collateralized mortgage obligations |  |  | 160,422 |  |  |  | 159,625 |
Equity security |  |  | 250 |  |  |  | 250 |
Total |  | $ | 511,511 |  |  | $ | 505,977 |
Available for Sale Securities, Continuous Unrealized Loss Position, Fair value | Gross unrealized losses on investment securities available for sale, the estimated fair value of the related securities and the number of securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows as of June 30, 2014 and December 31, 2013:
|  | Holding Period |
|  | Less Than 12 Months |  |  | 12 Months or More |  |  | Total |
|  | Gross |  |  | Estimated |  |  | Number |  |  | Gross |  |  | Estimated |  |  | Number |  |  | Gross |  |  | Estimated |  |  | Number |
|  | Unrealized |  |  | Fair |  |  | of |  |  | Unrealized |  |  | Fair |  |  | of |  |  | Unrealized |  |  | Fair |  |  | of |
|  | Loss |  |  | Value |  |  | Securities |  |  | Loss |  |  | Value |  |  | Securities |  |  | Loss |  |  | Value |  |  | Securities |
|  | (In thousands, except number of securities) |
June 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 220 |  |  | $ | 21,601 |  |  |  | 5 |  |  | $ | 1,790 |  |  | $ | 68,558 |  |  |  | 24 |  |  | $ | 2,010 |  |  | $ | 90,159 |  |  |  | 29 |
Collateralized mortgage obligations |  |  | 363 |  |  |  | 67,236 |  |  |  | 16 |  |  |  | 674 |  |  |  | 19,818 |  |  |  | 9 |  |  |  | 1,037 |  |  |  | 87,054 |  |  |  | 25 |
U.S. government agency securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,096 |  |  |  | 74,864 |  |  |  | 27 |  |  |  | 3,096 |  |  |  | 74,864 |  |  |  | 27 |
Municipal bonds-taxable |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 145 |  |  |  | 6,996 |  |  |  | 7 |  |  |  | 145 |  |  |  | 6,996 |  |  |  | 7 |
Corporate bonds |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 103 |  |  |  | 7,885 |  |  |  | 2 |  |  |  | 103 |  |  |  | 7,885 |  |  |  | 2 |
SBA loan pool securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 661 |  |  |  | 12,561 |  |  |  | 4 |  |  |  | 661 |  |  |  | 12,561 |  |  |  | 4 |
Other securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 91 |  |  |  | 2,935 |  |  |  | 5 |  |  |  | 91 |  |  |  | 2,935 |  |  |  | 5 |
Total |  | $ | 583 |  |  | $ | 88,837 |  |  |  | 21 |  |  | $ | 6,560 |  |  | $ | 193,617 |  |  |  | 78 |  |  | $ | 7,143 |  |  | $ | 282,454 |  |  |  | 99 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 3,437 |  |  | $ | 170,324 |  |  |  | 51 |  |  | $ | 2,589 |  |  | $ | 30,947 |  |  |  | 12 |  |  | $ | 6,026 |  |  | $ | 201,271 |  |  |  | 63 |
Collateralized mortgage obligations |  |  | 2,353 |  |  |  | 87,026 |  |  |  | 27 |  |  |  | 864 |  |  |  | 14,657 |  |  |  | 7 |  |  |  | 3,217 |  |  |  | 101,683 |  |  |  | 34 |
U.S. government agency securities |  |  | 3,942 |  |  |  | 50,932 |  |  |  | 19 |  |  |  | 3,374 |  |  |  | 32,606 |  |  |  | 12 |  |  |  | 7,316 |  |  |  | 83,538 |  |  |  | 31 |
Municipal bonds-tax exempt |  |  | 30 |  |  |  | 8,562 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30 |  |  |  | 8,562 |  |  |  | 5 |
Municipal bonds-taxable |  |  | 787 |  |  |  | 22,817 |  |  |  | 16 |  |  |  | 293 |  |  |  | 3,813 |  |  |  | 4 |  |  |  | 1,080 |  |  |  | 26,630 |  |  |  | 20 |
Corporate bonds |  |  | 9 |  |  |  | 5,024 |  |  |  | 1 |  |  |  | 177 |  |  |  | 11,803 |  |  |  | 3 |  |  |  | 186 |  |  |  | 16,827 |  |  |  | 4 |
U.S. treasury bills |  |  | 1 |  |  |  | 19,996 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 19,996 |  |  |  | 2 |
SBA loan pool securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 969 |  |  |  | 12,629 |  |  |  | 4 |  |  |  | 969 |  |  |  | 12,629 |  |  |  | 4 |
Other securities |  |  | 48 |  |  |  | 1,957 |  |  |  | 3 |  |  |  | 96 |  |  |  | 929 |  |  |  | 3 |  |  |  | 144 |  |  |  | 2,886 |  |  |  | 6 |
Total |  | $ | 10,607 |  |  | $ | 366,638 |  |  |  | 124 |  |  | $ | 8,362 |  |  | $ | 107,384 |  |  |  | 45 |  |  | $ | 18,969 |  |  | $ | 474,022 |  |  |  | 169 |
Realized Gains and Losses on Sales of Investment Securities | Realized gains and losses on sales of investment securities, proceeds from sales of investment securities and tax expense on sales of investment securities were as follows for the periods indicated:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
|  | (In thousands) |
Gross realized gains on sales of investment securities |  | $ | 365 |  |  | $ | 304 |  |  | $ | 1,786 |  |  | $ | 313 |
Gross realized losses on sales of investment securities |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Net realized gains on sales of investment securities |  | $ | 364 |  |  | $ | 303 |  |  | $ | 1,785 |  |  | $ | 312 |
Proceeds from sales of investment securities |  | $ | 45,843 |  |  | $ | 15,764 |  |  | $ | 131,077 |  |  | $ | 24,764 |
Tax expense on sales of investment securities |  | $ | 153 |  |  | $ | 127 |  |  | $ | 751 |  |  | $ | 131 |

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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
- Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration