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Securities (Tables) | 3 Months Ended
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Mar. 31, 2016
Cash and Cash Equivalents [Abstract] |
Securities Available for Sale | Securities available for sale at March 31, 2016 and December 31, 2015 are as follows:
|  |  |  |  | March 31, 2016 |  |  |  |  |  |  |  |  | December 31, 2015 |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Fair |  |  | Amortized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |  |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
U.S. Gov’t sponsored entities |  | $ | 139,178 |  |  | $ | 2,372 |  |  | $ | (48 | ) |  | $ | 141,502 |  |  | $ | 141,300 |  |  | $ | 1,579 |  |  | $ | (1,128 | ) |  | $ | 141,751 |
State & political subdivisions |  |  | 163,663 |  |  |  | 7,572 |  |  |  | (194 | ) |  |  | 171,041 |  |  |  | 165,828 |  |  |  | 6,234 |  |  |  | (243 | ) |  |  | 171,819 |
Residential & multi-family mortgage |  |  | 153,587 |  |  |  | 1,463 |  |  |  | (1,523 | ) |  |  | 153,527 |  |  |  | 160,316 |  |  |  | 1,060 |  |  |  | (3,394 | ) |  |  | 157,982 |
Corporate notes & bonds |  |  | 19,788 |  |  |  | 199 |  |  |  | (1,886 | ) |  |  | 18,101 |  |  |  | 19,794 |  |  |  | 165 |  |  |  | (1,271 | ) |  |  | 18,688 |
Pooled trust preferred |  |  | 800 |  |  |  | 2,309 |  |  |  | 0 |  |  |  | 3,109 |  |  |  | 800 |  |  |  | 2,613 |  |  |  | 0 |  |  |  | 3,413 |
Pooled SBA |  |  | 50,000 |  |  |  | 913 |  |  |  | (465 | ) |  |  | 50,448 |  |  |  | 51,556 |  |  |  | 760 |  |  |  | (907 | ) |  |  | 51,409 |
Other equity securities |  |  | 1,020 |  |  |  | 0 |  |  |  | (27 | ) |  |  | 993 |  |  |  | 1,020 |  |  |  | 0 |  |  |  | (39 | ) |  |  | 981 |
Total |  | $ | 528,036 |  |  | $ | 14,828 |  |  | $ | (4,143 | ) |  | $ | 538,721 |  |  | $ | 540,614 |  |  | $ | 12,411 |  |  | $ | (6,982 | ) |  | $ | 546,043 |
Trading Securities | Trading securities at March 31, 2016 and December 31, 2015 are as follows:
|  | March 31, 2016 |  |  | December 31, 2015 |
Corporate equity securities |  | $ | 3,356 |  |  | $ | 3,389 |
Mutual funds |  |  | 851 |  |  |  | 750 |
Certificates of deposit |  |  | 255 |  |  |  | 253 |
Corporate notes and bonds |  |  | 175 |  |  |  | 130 |
U.S. Government sponsored entities |  |  | 55 |  |  |  | 54 |
Total |  | $ | 4,692 |  |  | $ | 4,576 |
Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position | Securities with unrealized losses at March 31, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): March 31, 2016
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
U.S. Gov’t sponsored entities |  | $ | 12,014 |  |  | $ | (21 | ) |  | $ | 10,385 |  |  | $ | (27 | ) |  | $ | 22,399 |  |  | $ | (48 | )
State & political subdivisions |  |  | 1,871 |  |  |  | (194 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,871 |  |  |  | (194 | )
Residential & multi-family mortgage |  |  | 43,223 |  |  |  | (488 | ) |  |  | 53,225 |  |  |  | (1,035 | ) |  |  | 96,448 |  |  |  | (1,523 | )
Corporate notes & bonds |  |  | 0 |  |  |  | 0 |  |  |  | 7,525 |  |  |  | (1,886 | ) |  |  | 7,525 |  |  |  | (1,886 | )
Pooled SBA |  |  | 1,379 |  |  |  | (1 | ) |  |  | 26,940 |  |  |  | (464 | ) |  |  | 28,319 |  |  |  | (465 | )
Other equity securities |  |  | 0 |  |  |  | 0 |  |  |  | 993 |  |  |  | (27 | ) |  |  | 993 |  |  |  | (27 | )
|  | $ | 58,487 |  |  | $ | (704 | ) |  | $ | 99,068 |  |  | $ | (3,439 | ) |  | $ | 157,555 |  |  | $ | (4,143 | )
December 31, 2015
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
U.S. Gov’t sponsored entities |  | $ | 65,675 |  |  | $ | (640 | ) |  | $ | 31,923 |  |  | $ | (488 | ) |  | $ | 97,598 |  |  | $ | (1,128 | )
State & political subdivisions |  |  | 9,103 |  |  |  | (234 | ) |  |  | 2,478 |  |  |  | (9 | ) |  |  | 11,581 |  |  |  | (243 | )
Residential & multi-family mortgage |  |  | 69,631 |  |  |  | (1,562 | ) |  |  | 50,351 |  |  |  | (1,832 | ) |  |  | 119,982 |  |  |  | (3,394 | )
Corporate notes & bonds |  |  | 5,027 |  |  |  | (2 | ) |  |  | 8,144 |  |  |  | (1,269 | ) |  |  | 13,171 |  |  |  | (1,271 | )
Pooled SBA |  |  | 2,908 |  |  |  | (28 | ) |  |  | 27,127 |  |  |  | (879 | ) |  |  | 30,035 |  |  |  | (907 | )
Other equity securities |  |  | 0 |  |  |  | 0 |  |  |  | 981 |  |  |  | (39 | ) |  |  | 981 |  |  |  | (39 | )
|  | $ | 152,344 |  |  | $ | (2,466 | ) |  | $ | 121,004 |  |  | $ | (4,516 | ) |  | $ | 273,348 |  |  | $ | (6,982 | )
Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses | A roll-forward of the other-than-temporary impairment amount related to credit losses for the three months ended March 31, 2016 and 2015 is as follows:
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period |  | $ | 4,054 |
Additional credit loss for which other-than-temporary impairment was not previously recognized |  |  | 0 |
Additional credit loss for which other-than-temporary impairment was previously recognized |  |  | 0 |
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period |  | $ | 4,054 |
Information Pertaining to Security Sales | Information pertaining to security sales on available for sale securities is as follows:
|  | Proceeds |  |  | Gross Gains |  |  | Gross Losses |
Three months ended March 31, 2016 |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Three months ended March 31, 2015 |  | $ | 32,949 |  |  | $ | 136 |  |  | $ | 117 |
Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities | The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at March 31, 2016:
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
1 year or less |  | $ | 30,700 |  |  | $ | 30,547 |
1 year – 5 years |  |  | 192,864 |  |  |  | 199,213 |
5 years – 10 years |  |  | 76,842 |  |  |  | 79,312 |
After 10 years |  |  | 23,023 |  |  |  | 24,681 |
|  |  | 323,429 |  |  |  | 333,753 |
Residential and multi-family mortgage |  |  | 153,587 |  |  |  | 153,527 |
Pooled SBA |  |  | 50,000 |  |  |  | 50,448 |
Total debt securities |  | $ | 527,016 |  |  | $ | 537,728 |

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