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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2016
Amortized Cost and Fair Value of Available-for-Sale Securities, Including Gross Unrealized Gains and Losses | The following tables present the amortized cost and fair value of available-for-sale securities, including gross unrealized gains and losses, as of the dates indicated:
|  | December 31, 2016 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. Agency securities |  | $ | 1,342 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 1,345 |
Municipal securities |  |  | 111,659 |  |  |  | 2,258 |  |  |  | (586 | ) |  |  | 113,331 |
Single issue trust preferred securities |  |  | 22,104 |  |  |  | — |  |  |  | (2,165 | ) |  |  | 19,939 |
Mortgage-backed Agency securities |  |  | 31,290 |  |  |  | 66 |  |  |  | (465 | ) |  |  | 30,891 |
Equity securities |  |  | 55 |  |  |  | 18 |  |  |  | — |  |  |  | 73 |
Total securities available for sale |  | $ | 166,450 |  |  | $ | 2,345 |  |  | $ | (3,216 | ) |  | $ | 165,579 |
|  | December 31, 2015 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. Agency securities |  | $ | 31,414 |  |  | $ | 39 |  |  | $ | (751 | ) |  | $ | 30,702 |
Municipal securities |  |  | 124,880 |  |  |  | 4,155 |  |  |  | (357 | ) |  |  | 128,678 |
Single issue trust preferred securities |  |  | 55,882 |  |  |  | — |  |  |  | (8,050 | ) |  |  | 47,832 |
Corporate securities |  |  | 70,571 |  |  |  | — |  |  |  | (238 | ) |  |  | 70,333 |
Certificates of deposit |  |  | 5,000 |  |  |  | — |  |  |  | — |  |  |  | 5,000 |
Mortgage-backed Agency securities |  |  | 84,576 |  |  |  | 155 |  |  |  | (1,175 | ) |  |  | 83,556 |
Equity securities |  |  | 66 |  |  |  | 6 |  |  |  | — |  |  |  | 72 |
Total securities available for sale |  | $ | 372,389 |  |  | $ | 4,355 |  |  | $ | (10,571 | ) |  | $ | 366,173 |
Amortized Cost, Fair Value, and Weighted-Average Yield of Securities by Contractual Maturity | The following table presents the amortized cost and fair value of held-to-maturity securities, by contractual maturity, as of December 31, 2016. Actual maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without penalties.
(Amounts in thousands) |  | U.S. Agency Securities |  |  | Corporate Notes |  |  | Total |
Amortized cost maturity: |  |  |  |  |  |  |  |  |  |  |  |
One year or less |  | $ | 18,756 |  |  | $ | 3,095 |  |  | $ | 21,851 |
After one year through five years |  |  | 17,985 |  |  |  | 7,297 |  |  |  | 25,282 |
After five years through ten years |  |  | — |  |  |  | — |  |  |  | — |
After ten years |  |  | — |  |  |  | — |  |  |  | — |
Total amortized cost |  | $ | 36,741 |  |  | $ | 10,392 |  |  | $ | 47,133 |
Fair value maturity: |  |  |  |  |  |  |  |  |  |  |  |
One year or less |  | $ | 18,768 |  |  | $ | 3,096 |  |  | $ | 21,864 |
After one year through five years |  |  | 18,097 |  |  |  | 7,305 |  |  |  | 25,402 |
After five years through ten years |  |  | — |  |  |  | — |  |  |  | — |
After ten years |  |  | — |  |  |  | — |  |  |  | — |
Total fair value |  | $ | 36,865 |  |  | $ | 10,401 |  |  | $ | 47,266 |
Amortized Cost and Fair Value of Held-to-Maturity Securities, Including Gross Unrealized Gains and Losses | The following tables present the amortized cost and fair value of held-to-maturity securities, including gross unrealized gains and losses, as of the dates indicated:
|  | December 31, 2016 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. Agency securities |  | $ | 36,741 |  |  | $ | 124 |  |  | $ | — |  |  | $ | 36,865 |
Corporate securities |  |  | 10,392 |  |  |  | 11 |  |  |  | (2 | ) |  |  | 10,401 |
Total securities held to maturity |  | $ | 47,133 |  |  | $ | 135 |  |  | $ | (2 | ) |  | $ | 47,266 |
|  | December 31, 2015 |
(Amounts in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. Agency securities |  | $ | 61,863 |  |  | $ | 75 |  |  | $ | (106 | ) |  | $ | 61,832 |
Municipal securities |  |  | 190 |  |  |  | 3 |  |  |  | — |  |  |  | 193 |
Corporate securities |  |  | 10,488 |  |  |  | — |  |  |  | (23 | ) |  |  | 10,465 |
Total securities held to maturity |  | $ | 72,541 |  |  | $ | 78 |  |  | $ | (129 | ) |  | $ | 72,490 |
Amortized Cost and Fair Value of Municipal Securities by State, Including Gross Unrealized Gains and Losses | The following tables present municipal securities, by state, for the states where the largest volume of these securities are held in the Company’s portfolio. The tables also present the amortized cost and fair value of the municipal securities, including gross unrealized gains and losses, as of the dates indicated.
|  | December 31, 2016 |
(Amounts in thousands) |  | Percent of Municipal Portfolio |  |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
New York |  |  | 11.66 | % |  | $ | 12,876 |  |  | $ | 334 |  |  | $ | — |  |  | $ | 13,210 |
Minnesota |  |  | 9.70 | % |  |  | 10,796 |  |  |  | 232 |  |  |  | (40 | ) |  |  | 10,988 |
Wisconsin |  |  | 8.66 | % |  |  | 9,786 |  |  |  | 74 |  |  |  | (42 | ) |  |  | 9,818 |
Ohio |  |  | 8.50 | % |  |  | 9,599 |  |  |  | 125 |  |  |  | (88 | ) |  |  | 9,636 |
Massachusetts |  |  | 8.45 | % |  |  | 9,355 |  |  |  | 229 |  |  |  | (10 | ) |  |  | 9,574 |
New Jersey |  |  | 7.14 | % |  |  | 7,891 |  |  |  | 202 |  |  |  | — |  |  |  | 8,093 |
Connecticut |  |  | 6.90 | % |  |  | 7,628 |  |  |  | 190 |  |  |  | — |  |  |  | 7,818 |
Texas |  |  | 6.55 | % |  |  | 7,397 |  |  |  | 130 |  |  |  | (103 | ) |  |  | 7,424 |
Iowa |  |  | 5.66 | % |  |  | 6,467 |  |  |  | 36 |  |  |  | (88 | ) |  |  | 6,415 |
Other |  |  | 26.78 | % |  |  | 29,864 |  |  |  | 706 |  |  |  | (215 | ) |  |  | 30,355 |
Total |  |  | 100.00 | % |  | $ | 111,659 |  |  | $ | 2,258 |  |  | $ | (586 | ) |  | $ | 113,331 |
|  | December 31, 2015 |
(Amounts in thousands) |  | Percent of Municipal Portfolio |  |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
New York |  |  | 11.38 | % |  | $ | 14,062 |  |  | $ | 602 |  |  | $ | — |  |  | $ | 14,664 |
Minnesota |  |  | 8.72 | % |  |  | 11,011 |  |  |  | 283 |  |  |  | (64 | ) |  |  | 11,230 |
Wisconsin |  |  | 8.69 | % |  |  | 10,797 |  |  |  | 420 |  |  |  | (14 | ) |  |  | 11,203 |
Ohio |  |  | 8.38 | % |  |  | 10,416 |  |  |  | 388 |  |  |  | — |  |  |  | 10,804 |
Connecticut |  |  | 7.76 | % |  |  | 9,786 |  |  |  | 217 |  |  |  | (5 | ) |  |  | 9,998 |
New Jersey |  |  | 7.69 | % |  |  | 9,554 |  |  |  | 378 |  |  |  | (22 | ) |  |  | 9,910 |
Massachusetts |  |  | 7.60 | % |  |  | 9,479 |  |  |  | 315 |  |  |  | — |  |  |  | 9,794 |
Texas |  |  | 6.04 | % |  |  | 7,651 |  |  |  | 208 |  |  |  | (75 | ) |  |  | 7,784 |
Other |  |  | 5.03 | % |  |  | 6,471 |  |  |  | 75 |  |  |  | (60 | ) |  |  | 6,486 |
Total |  |  | 28.71 | % |  |  | 35,843 |  |  |  | 1,272 |  |  |  | (117 | ) |  |  | 36,998 |
|  |  | 100.00 | % |  | $ | 125,070 |  |  | $ | 4,158 |  |  | $ | (357 | ) |  | $ | 128,871 |
Available-For-Sale Securities in Continuous Unrealized Loss Position | The following tables present the fair values and unrealized losses for available-for-sale securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer as of the dates indicated:
|  | December 31, 2016 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Amounts in thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Municipal securities |  | $ | 24,252 |  |  | $ | (527 | ) |  | $ | 715 |  |  | $ | (59 | ) |  | $ | 24,967 |  |  | $ | (586 | )
Single issue trust preferred securities |  |  | — |  |  |  | — |  |  |  | 19,939 |  |  |  | (2,165 | ) |  |  | 19,939 |  |  |  | (2,165 | )
Mortgage-backed Agency securities |  |  | 12,834 |  |  |  | (166 | ) |  |  | 11,851 |  |  |  | (299 | ) |  |  | 24,685 |  |  |  | (465 | )
Total |  | $ | 37,086 |  |  | $ | (693 | ) |  | $ | 32,505 |  |  | $ | (2,523 | ) |  | $ | 69,591 |  |  | $ | (3,216 | )
|  | December 31, 2015 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Amounts in thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Agency securities |  | $ | 4,441 |  |  | $ | (5 | ) |  | $ | 23,922 |  |  | $ | (746 | ) |  | $ | 28,363 |  |  | $ | (751 | )
Municipal securities |  |  | 8,126 |  |  |  | (48 | ) |  |  | 10,393 |  |  |  | (309 | ) |  |  | 18,519 |  |  |  | (357 | )
Single issue trust preferred securities |  |  | — |  |  |  | — |  |  |  | 47,832 |  |  |  | (8,050 | ) |  |  | 47,832 |  |  |  | (8,050 | )
Corporate securities |  |  | 70,333 |  |  |  | (238 | ) |  |  | — |  |  |  | — |  |  |  | 70,333 |  |  |  | (238 | )
Mortgage-backed Agency securities |  |  | 27,050 |  |  |  | (253 | ) |  |  | 37,291 |  |  |  | (922 | ) |  |  | 64,341 |  |  |  | (1,175 | )
Total |  | $ | 109,950 |  |  | $ | (544 | ) |  | $ | 119,438 |  |  | $ | (10,027 | ) |  | $ | 229,388 |  |  | $ | (10,571 | )
Held to Maturity Securities in Continuous Unrealized Loss Position | The following tables present the fair values and unrealized losses for held-to-maturity securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer as of the dates indicated:
|  | December 31, 2016 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Amounts in thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Corporate securities |  | $ | 3,533 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |  |  | $ | 3,533 |  |  | $ | (2 | )
Total |  | $ | 3,533 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |  |  | $ | 3,533 |  |  | $ | (2 | )
|  | December 31, 2015 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Amounts in thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Agency securities |  | $ | 43,723 |  |  | $ | (106 | ) |  | $ | — |  |  | $ | — |  |  | $ | 43,723 |  |  | $ | (106 | )
Corporate securities |  |  | 6,851 |  |  |  | (23 | ) |  |  | — |  |  |  | — |  |  |  | 6,851 |  |  |  | (23 | )
Total |  | $ | 50,574 |  |  | $ | (129 | ) |  | $ | — |  |  | $ | — |  |  | $ | 50,574 |  |  | $ | (129 | )
Credit Losses Recognized in Earnings for Debt Securities Where Portion of Impairment Recognized in OCI | The following table presents the changes in credit-related losses recognized in earnings on debt securities where a portion of the impairment was recognized in OCI during the periods indicated:
|  | Year Ended December 31, |
(Amounts in thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Beginning balance (1) |  | $ | — |  |  | $ | — |  |  | $ | 7,798 |
Additions for credit losses on securities not previously recognized |  |  | 4,646 |  |  |  | — |  |  |  | — |
Additions for credit losses on securities previously recognized |  |  | — |  |  |  | — |  |  |  | 705 |
Reduction for securities sold/realized losses |  |  | (4,646 | ) |  |  | — |  |  |  | (8,503 | )
Ending balance |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) | The beginning balance includes credit-related losses included in OTTI charges recognized on debt securities in prior periods.
Net Loss or Gain from Sale of Securities | The following table presents the gross realized gains and losses from the sale of available-for-sale securities for the periods indicated:
|  | Year Ended December 31, |
(Amounts in thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Gross realized gains |  | $ | 757 |  |  | $ | 363 |  |  | $ | 2,257 |
Gross realized losses |  |  | (422 | ) |  |  | (219 | ) |  |  | (3,642 | )
Net gain (loss) on sale of securities |  | $ | 335 |  |  | $ | 144 |  |  | $ | (1,385 | )
Held-to-maturity Securities |
Amortized Cost, Fair Value, and Weighted-Average Yield of Securities by Contractual Maturity | The following table presents the amortized cost and fair value of available-for-sale securities, by contractual maturity, as of December 31, 2016. Actual maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without penalties.
(Amounts in thousands) |  | U.S. Agency Securities |  |  | Municipal Securities |  |  | Corporate Notes |  |  | Total |
Amortized cost maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One year or less |  | $ | — |  |  | $ | 1,135 |  |  | $ | — |  |  | $ | 1,135 |
After one year through five years |  |  | 1 |  |  |  | 1,035 |  |  |  | — |  |  |  | 1,036 |
After five years through ten years |  |  | — |  |  |  | 88,449 |  |  |  | — |  |  |  | 88,449 |
After ten years |  |  | 1,341 |  |  |  | 21,040 |  |  |  | 22,104 |  |  |  | 44,485 |
Amortized cost |  | $ | 1,342 |  |  | $ | 111,659 |  |  | $ | 22,104 |  |  |  | 135,105 |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,290 |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 55 |
Total amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 166,450 |
Fair value maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One year or less |  | $ | — |  |  | $ | 1,141 |  |  | $ | — |  |  | $ | 1,141 |
After one year through five years |  |  | 1 |  |  |  | 1,059 |  |  |  | — |  |  |  | 1,060 |
After five years through ten years |  |  | — |  |  |  | 90,360 |  |  |  | — |  |  |  | 90,360 |
After ten years |  |  | 1,344 |  |  |  | 20,771 |  |  |  | 19,939 |  |  |  | 42,054 |
Fair value |  | $ | 1,345 |  |  | $ | 113,331 |  |  | $ | 19,939 |  |  |  | 134,615 |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30,891 |
Equity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 73 |
Total fair value |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 165,579 |

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