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Investment Securities Available-for-Sale (Tables)
 6 Months Ended
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of available-for-sale securities reconciliation

Amortized cost and estimated fair value of securities available-for-sale are summarized as follows:

 

          Gross     Gross     Estimated  
June 30, 2018   Amortized     Unrealized     Unrealized     Fair  
(dollars in thousands)   Cost     Gains     Losses     Value  
U. S. agency securities   $ 225,610     $ 8     $ 5,467     $ 220,151  
Residential mortgage backed securities     389,504       283       9,481       380,306  
Municipal bonds     48,292       584       672       48,204  
Corporate bonds     8,004       60       1       8,063  
Other equity investments     218       —       —       218  
    $ 671,628     $ 935     $ 15,621     $ 656,942  

 

          Gross     Gross     Estimated  
December 31, 2017   Amortized     Unrealized     Unrealized     Fair  
(dollars in thousands)   Cost     Gains     Losses     Value  
U. S. agency securities   $ 198,115     $ 283     $ 2,414     $ 195,984  
Residential mortgage backed securities     322,067       187       4,418       317,836  
Municipal bonds     60,976       1,295       214       62,057  
Corporate bonds     13,010       163       —       13,173  
Other equity investments     218       —       —       218  
    $ 594,386     $ 1,928     $ 7,046     $ 589,268  
Schedule of gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in a continuous unrealized loss position

Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in a continuous unrealized loss position are as follows:

 

       Less than   12 Months     
       12 Months   or Greater   Total 
       Estimated       Estimated       Estimated     
June 30, 2018  Number of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
(dollars in thousands)  Securities   Value   Losses   Value   Losses   Value   Losses 
U. S. agency securities   56   $142,970   $3,004   $64,860   $2,463   $207,830   $5,467 
Residential mortgage backed securities   157    181,775    3,812    144,061    5,669    325,836    9,481 
Municipal bonds   13    23,059    672    —    —    23,059    672 
Corporate bonds   1    1,499    1    —    —    1,499    1 
    227   $349,303   $7,489   $208,921   $8,132   $558,224   $15,621 

 

       Less than   12 Months     
       12 Months   or Greater   Total 
       Estimated       Estimated       Estimated     
December 31, 2017  Number of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
(dollars in thousands)  Securities   Value   Losses   Value   Losses   Value   Losses 
U. S. agency securities   38   $102,264   $1,073   $55,093   $1,341   $157,357   $2,414 
Residential mortgage backed securities   137    152,350    1,306    147,953    3,112    300,303    4,418 
Municipal bonds   8    17,446    214    —    —    17,446    214 
    183   $272,060   $2,593   $203,046   $4,453   $475,106   $7,046 
Schedule of available-for-sale securities by contractual maturity

The amortized cost and estimated fair value of investments available-for-sale at June 30, 2018 and December 31, 2017 by contractual maturity are shown in the table below. Expected maturities for residential mortgage backed securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. 

 

   June 30, 2018   December 31, 2017 
   Amortized   Estimated   Amortized   Estimated 
(dollars in thousands)  Cost   Fair Value   Cost   Fair Value 
U. S. agency securities maturing:                    
   One year or less  $111,981   $108,302   $109,893   $108,198 
   After one year through five years   91,692    90,544    74,106    73,916 
   Five years through ten years   21,937    21,305    14,116    13,870 
Residential mortgage backed securities   389,504    380,306    322,067    317,836 
Municipal bonds maturing:                    
   One year or less   6,118    6,197    5,068    5,171 
   After one year through five years   16,880    17,056    19,405    19,879 
   Five years through ten years   24,226    23,797    35,432    35,846 
   After ten years   1,068    1,154    1,071    1,161 
Corporate bonds maturing:                    
   After one year through five years   6,504    6,563    11,510    11,673 
   After ten years   1,500    1,500    1,500    1,500 
Other equity investments   218    218    218    218 
   $671,628   $656,942   $594,386   $589,268