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Securities (Tables) | 6 Months Ended
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Jun. 30, 2016
Cash and Cash Equivalents [Abstract] |
Securities Available for Sale | Securities available for sale at June 30, 2016 and December 31, 2015 are as follows:
|  |  |  |  | June 30, 2016 |  |  |  |  |  |  |  |  | December 31, 2015 |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Fair |  |  | Amortized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |  |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
U.S. Gov’t sponsored entities |  | $ | 139,061 |  |  | $ | 2,732 |  |  | $ | (4 | ) |  | $ | 141,789 |  |  | $ | 141,300 |  |  | $ | 1,579 |  |  | $ | (1,128 | ) |  | $ | 141,751 |
State & political subdivisions |  |  | 156,731 |  |  |  | 8,108 |  |  |  | (194 | ) |  |  | 164,645 |  |  |  | 165,828 |  |  |  | 6,234 |  |  |  | (243 | ) |  |  | 171,819 |
Residential & multi-family mortgage |  |  | 145,782 |  |  |  | 1,792 |  |  |  | (716 | ) |  |  | 146,858 |  |  |  | 160,316 |  |  |  | 1,060 |  |  |  | (3,394 | ) |  |  | 157,982 |
Corporate notes & bonds |  |  | 18,188 |  |  |  | 199 |  |  |  | (1,463 | ) |  |  | 16,924 |  |  |  | 19,794 |  |  |  | 165 |  |  |  | (1,271 | ) |  |  | 18,688 |
Pooled trust preferred |  |  | 800 |  |  |  | 902 |  |  |  | 0 |  |  |  | 1,702 |  |  |  | 800 |  |  |  | 2,613 |  |  |  | 0 |  |  |  | 3,413 |
Pooled SBA |  |  | 47,394 |  |  |  | 872 |  |  |  | (179 | ) |  |  | 48,087 |  |  |  | 51,556 |  |  |  | 760 |  |  |  | (907 | ) |  |  | 51,409 |
Other equity securities |  |  | 1,020 |  |  |  | 0 |  |  |  | (24 | ) |  |  | 996 |  |  |  | 1,020 |  |  |  | 0 |  |  |  | (39 | ) |  |  | 981 |
Total |  | $ | 508,976 |  |  | $ | 14,605 |  |  | $ | (2,580 | ) |  | $ | 521,001 |  |  | $ | 540,614 |  |  | $ | 12,411 |  |  | $ | (6,982 | ) |  | $ | 546,043 |
Trading Securities | Trading securities at June 30, 2016 and December 31, 2015 are as follows:
|  | June 30, 2016 |  |  | December 31, 2015 |
Corporate equity securities |  | $ | 3,037 |  |  | $ | 3,389 |
Mutual funds |  |  | 888 |  |  |  | 750 |
Certificates of deposit |  |  | 255 |  |  |  | 253 |
Corporate notes and bonds |  |  | 202 |  |  |  | 130 |
U.S. Government sponsored entities |  |  | 56 |  |  |  | 54 |
Total |  | $ | 4,438 |  |  | $ | 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 June 30, 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): June 30, 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 |  | $ | 0 |  |  | $ | 0 |  |  | $ | 6,398 |  |  | $ | (4 | ) |  | $ | 6,398 |  |  | $ | (4 | )
State & political subdivisions |  |  | 271 |  |  |  | (194 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 271 |  |  |  | (194 | )
Residential & multi-family mortgage |  |  | 7,907 |  |  |  | (81 | ) |  |  | 58,084 |  |  |  | (635 | ) |  |  | 65,991 |  |  |  | (716 | )
Corporate notes & bonds |  |  | 0 |  |  |  | 0 |  |  |  | 7,940 |  |  |  | (1,463 | ) |  |  | 7,940 |  |  |  | (1,463 | )
Pooled SBA |  |  | 0 |  |  |  | 0 |  |  |  | 25,840 |  |  |  | (179 | ) |  |  | 25,840 |  |  |  | (179 | )
Other equity securities |  |  | 0 |  |  |  | 0 |  |  |  | 996 |  |  |  | (24 | ) |  |  | 996 |  |  |  | (24 | )
|  | $ | 8,178 |  |  | $ | (275 | ) |  | $ | 99,258 |  |  | $ | (2,305 | ) |  | $ | 107,436 |  |  | $ | (2,580 | )
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 and six months ended June 30, 2016 and 2015 is as follows:
|  | 2016 |  |  | 2015 |
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 |  |  | $ | 4,054 |
Credit losses previously recognized on securities sold during the period |  |  | (1,983 | ) |  |  | 0 |
Additional credit loss for which other-than-temporary impairment was not previously recognized |  |  | 0 |  |  |  | 0 |
Additional credit loss for which other-than-temporary impairment was previously recognized |  |  | 0 |  |  |  | 0 |
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period |  | $ | 2,071 |  |  | $ | 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 June 30, 2016 |  | $ | 4,420 |  |  | $ | 1,005 |  |  | $ | 0 |
Six months ended June 30, 2016 |  |  | 4,420 |  |  |  | 1,005 |  |  |  | 0 |
Three months ended June 30, 2015 |  |  | 15,580 |  |  |  | 472 |  |  |  | 0 |
Six months ended June 30, 2015 |  |  | 48,529 |  |  |  | 608 |  |  |  | (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 June 30, 2016:
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
1 year or less |  | $ | 34,631 |  |  | $ | 34,518 |
1 year – 5 years |  |  | 185,702 |  |  |  | 192,456 |
5 years – 10 years |  |  | 73,600 |  |  |  | 76,503 |
After 10 years |  |  | 20,847 |  |  |  | 21,583 |
|  |  | 314,780 |  |  |  | 325,060 |
Residential and multi-family mortgage |  |  | 145,782 |  |  |  | 146,858 |
Pooled SBA |  |  | 47,394 |  |  |  | 48,087 |
Total debt securities |  | $ | 507,956 |  |  | $ | 520,005 |

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